Tian1110 personal page - To The Moon

Tian1110

Tian1110

No personal profile

179Follow

0Followers

0Topic

0Badge

2021-04-20

6666

Li Xiang: The self-developed autonomous driving system can compete with Huawei and Tesla next year

2021-04-10

+1

Biden seeks 8.4% increase in fiscal year 2022 budget

2021-05-26

6666667

2021-04-29

666666666

Sorry, the original content has been removed

2021-04-02

Hi

Sister Wood: China's "disruptive innovation platform" is on the rise

2021-06-12

66666666

2021-05-23

66666666

2021-05-02

666666

Watch out for American traps! Behind the arrogance of Apple and Tesla, are they really the creators of the future world

2021-04-30

6666

Three departments in Guangdong jointly held an administrative guidance meeting for Internet platform enterprises

2021-04-20

6666666

Technology giants are building cars one after another, which is actually just a stepping stone

2021-04-19

6666666

Nio CEO Li Bin: Optimistic about electric vehicle sales this year

2021-04-19

666666

What is Nio's intention to join hands with Sinopec?

2021-04-19

6666

Wall Street's loan-to-deposit ratios repeat the post-Lehman crisis period, what happens next

2021-04-19

66666666

Car companies talk about chip shortages: It seems that the "firefighting team" frequently changes suppliers

2021-04-15

66666

TSMC's Q1 revenue and profit exceeded expectations, and gross profit margin approached the expected upper limit

2021-04-15

666666

Dismantling TuSimple: 6 questions to understand the world's first autonomous driving stock

2021-04-15

Good ?

Spokesperson of the Ministry of Commerce: For e-commerce companies, adhere to equal emphasis on development and standardization

2021-04-15

Good ?

Female version of Buffett Cathie Wood buys a lot of Coinbase

2021-04-09

Good

298 cases in a single season! Why is the "backdoor" of US stocks so crazy?

2021-04-08

Good

Tesla's short-term changes have pulled up, now up more than 2%

Go to Tiger App to see more news

{"i18n":{"language":"en_US"},"userPageInfo":{"id":"3577411653478803","uuid":"3577411653478803","gmtCreate":1614317629583,"gmtModify":1617288400655,"name":"Tian1110","pinyin":"tian1110","introduction":"","introductionEn":null,"signature":"","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":0,"headSize":179,"tweetSize":146,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":3,"name":"书生虎","nameTw":"書生虎","represent":"努力向上","factor":"发布10条非转发主帖,其中5条获得他人回复或点赞","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":"success","userBadges":[{"badgeId":"1026c425416b44e0aac28c11a0848493-3","templateUuid":"1026c425416b44e0aac28c11a0848493","name":" Tiger Idol","description":"Join the tiger community for 1500 days","bigImgUrl":"https://static.tigerbbs.com/8b40ae7da5bf081a1c84df14bf9e6367","smallImgUrl":"https://static.tigerbbs.com/f160eceddd7c284a8e1136557615cfad","grayImgUrl":"https://static.tigerbbs.com/11792805c468334a9b31c39f95a41c6a","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2025.04.07","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001},{"badgeId":"a83d7582f45846ffbccbce770ce65d84-1","templateUuid":"a83d7582f45846ffbccbce770ce65d84","name":"Real Trader","description":"Completed a transaction","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100}],"userBadgeCount":2,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":11,"crmLevelSwitch":0,"location":null,"starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"hot","tweets":[{"id":186628053,"gmtCreate":1623494109772,"gmtModify":1704205086676,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"66666666","listText":"66666666","text":"66666666","images":[{"img":"https://static.tigerbbs.com/8cfdeb54b388b6fced9f0649a6e44a7d","width":"1125","height":"3068"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/186628053","isVote":1,"tweetType":1,"viewCount":2037,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":136228965,"gmtCreate":1622021866557,"gmtModify":1704366239289,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"6666667","listText":"6666667","text":"6666667","images":[{"img":"https://static.tigerbbs.com/ef25cd9c2434d91887178e98029a7614","width":"1125","height":"3313"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/136228965","isVote":1,"tweetType":1,"viewCount":1623,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":133572409,"gmtCreate":1621776888701,"gmtModify":1704362309659,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"66666666","listText":"66666666","text":"66666666","images":[{"img":"https://static.tigerbbs.com/68f8e0b9519b169259581c8d4fb34bf9","width":"1125","height":"3068"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/133572409","isVote":1,"tweetType":1,"viewCount":1831,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":108081672,"gmtCreate":1619961366496,"gmtModify":1704336793447,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"666666","listText":"666666","text":"666666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/108081672","repostId":"2132893595","repostType":2,"repost":{"id":"2132893595","kind":"news","pubTimestamp":1619959470,"share":"https://ttm.financial/m/news/2132893595?lang=en_US&edition=fundamental","pubTime":"2021-05-02 20:44","market":"us","language":"zh","title":"Watch out for American traps! Behind the arrogance of Apple and Tesla, are they really the creators of the future world","url":"https://stock-news.laohu8.com/highlight/detail?id=2132893595","media":"腾讯新闻","summary":"在一些路人的视角中，无论是苹果还是特斯拉，都是资本的丑陋，慢待消费者已经是常态！亮眼的数据足以说明，在大量铁粉的眼中，苹果和特斯拉都是未来技术的象征，是未来世界的创造者。警惕美国陷阱首先得承认，苹果和特斯拉在中国市场的确取得非常大的成功。","content":"<p><html><body><article>From<a href=\"https://laohu8.com/S/AAPL\">Apple</a>To<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>If we think about it carefully, we will find a very interesting phenomenon.</p><p>From the perspective of some passers-by, whether it is Apple or Tesla, capital is ugly, and it is the norm to treat consumers slowly!</p><p>As a result, no matter how public opinion blows, consumers in the Chinese market still choose Apple and Tesla with their feet. According to data from Apple's second fiscal quarter report, Apple's revenue in Greater China was 17.728 billion, an increase of 87% year-on-year. Similarly, in March, Tesla model 3 ranked first in the domestic mid-level sedan market with sales of 25,352 units, a year-on-year increase of 149.53%.</p><p>The dazzling data is enough to show that in the eyes of a large number of iron fans, Apple and Tesla are both symbols of future technology and creators of the future world.</p><p>Beware of American traps</p><p>First of all, we must admit that Apple and Tesla have indeed achieved great success in the Chinese market. To explore the success behind this, I use Tesla as an example.</p><p>The book \"The American Trap\" writes that the U.S. Department of Justice uses domestic laws as a tool to directly force European motor industry giants<a href=\"https://laohu8.com/S/0J2R.UK\">Alstom</a>Group sells power equipment business to US<a href=\"https://laohu8.com/S/GE\">General Electric</a>Inc.</p><p>This \"America first\" model means that the United States gathers national strength, exercises the power of industry supervision, and suppresses overseas competitors.</p><p>Tesla also grew up under this background of \"America first\".</p><p>At that time, the Prius, a mass-produced model with Toyota's gasoline-electric hybrid technology, captured the United States with high quality and low fuel consumption<a href=\"https://laohu8.com/S/600617\">National New Energy</a>Car market. In response to Toyota's sudden attack, the U.S. Congress supported domestic new energy vehicle manufacturing with a policy loan of US $25 billion, of which the little-known Tesla received a loan of US $465 million.</p><p>As a Tesla Series A investor, Musk smelled a rare new energy business opportunity and became Tesla CEO in 2008.</p><p>Since then, Tesla has been cheating with this legendary figure!</p><p>Faced with Toyota's advantages in new energy vehicles, the National Highway Traffic Safety Administration of the United States first began to attack Toyota by public opinion on the grounds that \"the front floor mats of some Toyota models may slide\". Subsequently, major media began to report wildly that \"Toyota's throttle design is defective\".</p><p>Toyota, aware of the serious development of the situation, began to recall cars on a large scale, and many named cars also suspended sales in the North American market.</p><p>Immediately afterwards, the National Highway Traffic Safety Administration announced that \"the braking system of Toyota Prius may be out of control, and owners are advised to suspend the use of the car.\"</p><p>Under a combination of state, media, consumers, etc., Toyota realized the real intention of the US government. Therefore, it chose to reach a strategic cooperation agreement with the \"weakest\" Tesla. Tesla used this to obtain Toyota's funds and \"lean production\" production technology.</p><p>Since then, Tesla has begun to take off, and Toyota can only \"disappear\" in the North American market.</p><p>It is not difficult to see that Tesla still benefits from the protection of the \"American nationwide system\"!</p><p>Are Apple and Tesla really creating future technologies?</p><p>Explosive technological iteration and exquisite brand marketing model make Tesla expected to become the \"next Apple company\" in China and even the world after Apple.</p><p>Tesla's stock price soared 10 times in a year,<span>Total Market Capitalization</span>It is as high as 700 billion US dollars, exceeding the combined market value of traditional giants such as Toyota and Volkswagen. Investors' expectations once exceeded Apple at its peak.</p><p>However, if we think about it carefully, do Apple and Tesla really deserve their name? Is it really a technology that creates the future?</p><p>Apple is indeed the pioneer of mobile Internet access and the creator of closed IOS ecosystem. However, after so many years, is the performance and user experience of the current Apple phones really much higher than those of Android phones? Naturally not, but Apple still maintains its brand value.</p><p>The future technology in Tesla's mouth is only pure electric and autonomous driving, but now, it's not just \"the moon in the water and the flower in the mirror\". Many consumers who don't understand technology just look very powerful. In fact, Tesla technology itself has many problems.</p><p>Tesla, which uses a time-sharing operating system with linux kernel + consumer-grade chips, is difficult to achieve the security and real-time performance required by car regulations.</p><p>There are problems with these technology choices themselves. No matter how time-sharing systems develop, they will not become real-time systems, and no matter how consumer-grade chips develop, they will not become industrial-grade requirements. Not to mention autonomous driving, it is impossible to produce anything disruptive without more than ten years.</p><p>This disruptive future technology can definitely not be solved by Tesla and Apple alone, but requires the joint efforts of the entire academia and industry.</p><p>Concluding remarks</p><p>Global American companies such as Tesla and Apple will inevitably not be protected by the \"America First\" policy. Relying on various legal proceedings and reputation disputes to bring down domestic companies, such as the two-year Tesla lawsuit<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>In the case of new employees, another example is the encircled Apple tax.</p><p>Domestic enterprises have to beware of this \"American trap\".</p><p>Moreover, the constant export of American culture has given the public the illusion that all high-tech products are from the United States. This illusion, for a long time in the past, has contributed to the indifference of American enterprises towards consumers and their contempt for local culture. As a result, there have been many cases in which \"domestic consumers are trampled on and still pay the bill\".</p><p>The root cause is a lack of confidence in one's own culture!</p><p>But I believe that in the huge Chinese market, Tesla, Apple,<a href=\"https://laohu8.com/S/NKE\">Nike</a>Wait, is not an indispensable part of it.</p><p>Pay attention to meditation technology, a person who looks at the world in meditation!</p><p></article></body></html></p>","source":"tencent","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Watch out for American traps! Behind the arrogance of Apple and Tesla, are they really the creators of the future world</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\">\nWatch out for American traps! Behind the arrogance of Apple and Tesla, are they really the creators of the future world\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">腾讯新闻</strong><span class=\"h-time small\">2021-05-02 20:44</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><body><article>From<a href=\"https://laohu8.com/S/AAPL\">Apple</a>To<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>If we think about it carefully, we will find a very interesting phenomenon.</p><p>From the perspective of some passers-by, whether it is Apple or Tesla, capital is ugly, and it is the norm to treat consumers slowly!</p><p>As a result, no matter how public opinion blows, consumers in the Chinese market still choose Apple and Tesla with their feet. According to data from Apple's second fiscal quarter report, Apple's revenue in Greater China was 17.728 billion, an increase of 87% year-on-year. Similarly, in March, Tesla model 3 ranked first in the domestic mid-level sedan market with sales of 25,352 units, a year-on-year increase of 149.53%.</p><p>The dazzling data is enough to show that in the eyes of a large number of iron fans, Apple and Tesla are both symbols of future technology and creators of the future world.</p><p>Beware of American traps</p><p>First of all, we must admit that Apple and Tesla have indeed achieved great success in the Chinese market. To explore the success behind this, I use Tesla as an example.</p><p>The book \"The American Trap\" writes that the U.S. Department of Justice uses domestic laws as a tool to directly force European motor industry giants<a href=\"https://laohu8.com/S/0J2R.UK\">Alstom</a>Group sells power equipment business to US<a href=\"https://laohu8.com/S/GE\">General Electric</a>Inc.</p><p>This \"America first\" model means that the United States gathers national strength, exercises the power of industry supervision, and suppresses overseas competitors.</p><p>Tesla also grew up under this background of \"America first\".</p><p>At that time, the Prius, a mass-produced model with Toyota's gasoline-electric hybrid technology, captured the United States with high quality and low fuel consumption<a href=\"https://laohu8.com/S/600617\">National New Energy</a>Car market. In response to Toyota's sudden attack, the U.S. Congress supported domestic new energy vehicle manufacturing with a policy loan of US $25 billion, of which the little-known Tesla received a loan of US $465 million.</p><p>As a Tesla Series A investor, Musk smelled a rare new energy business opportunity and became Tesla CEO in 2008.</p><p>Since then, Tesla has been cheating with this legendary figure!</p><p>Faced with Toyota's advantages in new energy vehicles, the National Highway Traffic Safety Administration of the United States first began to attack Toyota by public opinion on the grounds that \"the front floor mats of some Toyota models may slide\". Subsequently, major media began to report wildly that \"Toyota's throttle design is defective\".</p><p>Toyota, aware of the serious development of the situation, began to recall cars on a large scale, and many named cars also suspended sales in the North American market.</p><p>Immediately afterwards, the National Highway Traffic Safety Administration announced that \"the braking system of Toyota Prius may be out of control, and owners are advised to suspend the use of the car.\"</p><p>Under a combination of state, media, consumers, etc., Toyota realized the real intention of the US government. Therefore, it chose to reach a strategic cooperation agreement with the \"weakest\" Tesla. Tesla used this to obtain Toyota's funds and \"lean production\" production technology.</p><p>Since then, Tesla has begun to take off, and Toyota can only \"disappear\" in the North American market.</p><p>It is not difficult to see that Tesla still benefits from the protection of the \"American nationwide system\"!</p><p>Are Apple and Tesla really creating future technologies?</p><p>Explosive technological iteration and exquisite brand marketing model make Tesla expected to become the \"next Apple company\" in China and even the world after Apple.</p><p>Tesla's stock price soared 10 times in a year,<span>Total Market Capitalization</span>It is as high as 700 billion US dollars, exceeding the combined market value of traditional giants such as Toyota and Volkswagen. Investors' expectations once exceeded Apple at its peak.</p><p>However, if we think about it carefully, do Apple and Tesla really deserve their name? Is it really a technology that creates the future?</p><p>Apple is indeed the pioneer of mobile Internet access and the creator of closed IOS ecosystem. However, after so many years, is the performance and user experience of the current Apple phones really much higher than those of Android phones? Naturally not, but Apple still maintains its brand value.</p><p>The future technology in Tesla's mouth is only pure electric and autonomous driving, but now, it's not just \"the moon in the water and the flower in the mirror\". Many consumers who don't understand technology just look very powerful. In fact, Tesla technology itself has many problems.</p><p>Tesla, which uses a time-sharing operating system with linux kernel + consumer-grade chips, is difficult to achieve the security and real-time performance required by car regulations.</p><p>There are problems with these technology choices themselves. No matter how time-sharing systems develop, they will not become real-time systems, and no matter how consumer-grade chips develop, they will not become industrial-grade requirements. Not to mention autonomous driving, it is impossible to produce anything disruptive without more than ten years.</p><p>This disruptive future technology can definitely not be solved by Tesla and Apple alone, but requires the joint efforts of the entire academia and industry.</p><p>Concluding remarks</p><p>Global American companies such as Tesla and Apple will inevitably not be protected by the \"America First\" policy. Relying on various legal proceedings and reputation disputes to bring down domestic companies, such as the two-year Tesla lawsuit<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>In the case of new employees, another example is the encircled Apple tax.</p><p>Domestic enterprises have to beware of this \"American trap\".</p><p>Moreover, the constant export of American culture has given the public the illusion that all high-tech products are from the United States. This illusion, for a long time in the past, has contributed to the indifference of American enterprises towards consumers and their contempt for local culture. As a result, there have been many cases in which \"domestic consumers are trampled on and still pay the bill\".</p><p>The root cause is a lack of confidence in one's own culture!</p><p>But I believe that in the huge Chinese market, Tesla, Apple,<a href=\"https://laohu8.com/S/NKE\">Nike</a>Wait, is not an indispensable part of it.</p><p>Pay attention to meditation technology, a person who looks at the world in meditation!</p><p></article></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2021050220485679bcbcfb&s=b\">腾讯新闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/78edc8337704ffd6760fab4583246af8","relate_stocks":{"TSLA":"特斯拉","AAPL":"苹果","09086":"华夏纳指-U","03086":"华夏纳指","00572":"未来世界控股"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2021050220485679bcbcfb&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2132893595","content_text":"从苹果到特斯拉，我们仔细回想一下，就会发现一个很有意思的现象。在一些路人的视角中，无论是苹果还是特斯拉，都是资本的丑陋，慢待消费者已经是常态！结果，任凭舆论怎么吹打，中国市场的消费者还是用脚选择了苹果和特斯拉。苹果第二财季报告数据显示，苹果在大中华区营收为177.28亿，同比去年同期增长87%。同样，3月份，特斯拉model 3以25352辆的销量位居国内中级轿车市场第一，同比上涨149.53%。亮眼的数据足以说明，在大量铁粉的眼中，苹果和特斯拉都是未来技术的象征，是未来世界的创造者。警惕美国陷阱首先得承认，苹果和特斯拉在中国市场的确取得非常大的成功。为了探究这背后的成功，我以特斯拉举例说明。《美国陷阱》一书中写到，美国司法部以国内法作为工具，直接迫使欧洲电机产业巨人阿尔斯通集团将电力设备业务卖给美国通用电气公司。这种”美国优先“模式，就是美国集国家力量，行行业监管之权，打压海外竞争对手。特斯拉，也正是在这种”美国优先“的大背景下成长起来的。当时，丰田油电混动技术量产车型普锐斯，以高质量和低油耗一举攻下美国新能源车市场。为了应对丰田的突然袭击，美国国会以250亿美元的政策性贷款，扶持国内新能源汽车制造，其中鲜有名气的特斯拉获得了4.65亿美元贷款。作为特斯拉A轮投资人的马斯克，嗅到了难得的新能源商机，并于2008年担任特斯拉CEO。从此，特斯拉便与这个传奇人物一同开挂！面对丰田在新能源汽车上的优势，美国国家公路交通安全管理局首先以”丰田部分车型的前排脚垫可能发生滑动“为由，开始对丰田进行舆论攻击。随后，各大媒体又开始疯狂报道，”丰田的油门设计存在缺陷“。意识事态发展严重的丰田，开始大规模召回汽车，多个被点名的汽车也暂停在北美市场销售。紧接着，美国国家公路交通安全管理局宣布，”丰田普锐斯的制动系统存在失控可能，建议车主暂停用车。“国家、媒体、消费者等一套组合拳之下，丰田意识到美国政府的真正用意。于是，选择与”最弱“的特斯拉达成战略合作协议。特斯拉便以此获得了丰田的资金和“精益生产”的生产工艺。从此，特斯拉开始腾飞，丰田只能在北美市场”烟消云散“。不难看出，特斯拉依然得益于”美国举国制度“的庇护！苹果、特斯拉，真是缔造了未来技术吗爆发式的技术迭代和精妙的品牌营销模式，使得特斯拉有望成为继苹果之后，成为中国乃至全球的”下一个苹果公司“。特斯拉股价一年之内暴涨10倍，总市值高达7000亿美元，超过丰田、大众等传统巨头的市值总和，投资者的期望一度超过巅峰时期的苹果。然而，我们仔细想想，苹果、特斯拉，真的是名至实归吗？真是缔造未来技术吗？苹果的确是移动上网的开创者，也是封闭IOS生态的缔造者。但是，这样多年过去，现在的苹果手机真的比一众安卓手机的性能、用户体验高出很多吗？自然不是，但是苹果依然保持着其品牌价值。特斯拉口中的未来技术也只是纯电动和自动驾驶，可是事到如今，不还只是”水中月、镜中花“。很多不懂技术的消费者，只是看着很厉害，其实特斯拉技术本身存在很多问题。采用linux内核的分时操作系统+消费级芯片的特斯拉，很难做到车规级所要求的安全性和实时性。这些技术选择本身存在的问题。分时系统怎么发展都不会变成实时系统，消费级芯片怎么发展也不会变成工业级要求。自动驾驶更不用说，没有个十几年，根本搞不出颠覆性的东西。这种颠覆性的未来技术，绝对不是单靠特斯拉和苹果能够解决，需要整个学术界、产业界的共同努力。结束语特斯拉、苹果这种全球化的美国企业，难免不会得到”美国优先“政策的庇护。依托各种法律诉讼和名誉纷争来拖垮国内企业的手段，比如长达两年的特斯拉状告小鹏汽车新员工一案，再比如被围剿的苹果税。国内企业不得不提防这种”美国陷阱“。而且，不断向外输出的美国文化，让大众产生了高科技的都是出自美国的幻觉。这种幻觉，在过去很长一段时间，助长了美国企业对待消费者的冷漠态度和对本土文化的蔑视态度。从而，出现了不少”国内消费者被践踏且依然买单“的案例。究其根源，是对自己的文化缺乏自信！但是我相信，在巨大的中国市场，特斯拉、苹果、耐克等，并非是其中不可或缺的一环。关注静心科技，一个静心看待世界的人！","news_type":1,"symbols_score_info":{"TSLA":1,"AAPL":1,"03086":0.6,"09086":0.6,"00572":0.6}},"isVote":1,"tweetType":1,"viewCount":1934,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":103238838,"gmtCreate":1619785373424,"gmtModify":1704272327148,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"6666","listText":"6666","text":"6666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/103238838","repostId":"1171332325","repostType":4,"repost":{"id":"1171332325","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":1619783662,"share":"https://ttm.financial/m/news/1171332325?lang=en_US&edition=fundamental","pubTime":"2021-04-30 19:54","market":"us","language":"zh","title":"Three departments in Guangdong jointly held an administrative guidance meeting for Internet platform enterprises","url":"https://stock-news.laohu8.com/highlight/detail?id=1171332325","media":"老虎资讯综合","summary":"阿里、腾讯、京东等与会","content":"<p>According to Zhongxin.com, the Guangdong Provincial Market Supervision Administration, together with the Office of Guangdong Provincial Network Security and Information Commission and the Guangdong Provincial Taxation Bureau of State Taxation Administration of The People's Republic of China, held an administrative guidance meeting for Internet platform enterprises.</p><p>The meeting pointed out that Guangdong's platform economy is developing rapidly, the market scale continues to expand, and the overall situation of the platform economy is improving. However, with the rapid development, risks and hidden dangers are gradually accumulating, and the harm cannot be ignored, so it is urgent to regulate according to law. Problems such as forcing \"choose one from the other\", \"pinching mergers and acquisitions\", burning money to seize the market of \"community group buying\", \"big data killing\", \"counterfeiting and shoddy\", \"information leakage\", \"consumer fraud\", \"false propaganda\" and \"network pyramid schemes\" must be seriously rectified.</p><p><a href=\"https://laohu8.com/S/BABA\">Alibaba</a>、<a href=\"https://laohu8.com/S/00700\">Tencent Holdings</a>、<a href=\"https://laohu8.com/S/JD\">JD.com</a>、<a href=\"https://laohu8.com/S/VIPS\">Vipshop</a>、<a href=\"https://laohu8.com/S/002024\">Suning.com</a>Representatives of many Internet platform companies such as No. 1 Pharmacy attended the meeting.</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>Three departments in Guangdong jointly held an administrative guidance meeting for Internet platform 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\">\nThree departments in Guangdong jointly held an administrative guidance meeting for Internet platform enterprises\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\">2021-04-30 19:54</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>According to Zhongxin.com, the Guangdong Provincial Market Supervision Administration, together with the Office of Guangdong Provincial Network Security and Information Commission and the Guangdong Provincial Taxation Bureau of State Taxation Administration of The People's Republic of China, held an administrative guidance meeting for Internet platform enterprises.</p><p>The meeting pointed out that Guangdong's platform economy is developing rapidly, the market scale continues to expand, and the overall situation of the platform economy is improving. However, with the rapid development, risks and hidden dangers are gradually accumulating, and the harm cannot be ignored, so it is urgent to regulate according to law. Problems such as forcing \"choose one from the other\", \"pinching mergers and acquisitions\", burning money to seize the market of \"community group buying\", \"big data killing\", \"counterfeiting and shoddy\", \"information leakage\", \"consumer fraud\", \"false propaganda\" and \"network pyramid schemes\" must be seriously rectified.</p><p><a href=\"https://laohu8.com/S/BABA\">Alibaba</a>、<a href=\"https://laohu8.com/S/00700\">Tencent Holdings</a>、<a href=\"https://laohu8.com/S/JD\">JD.com</a>、<a href=\"https://laohu8.com/S/VIPS\">Vipshop</a>、<a href=\"https://laohu8.com/S/002024\">Suning.com</a>Representatives of many Internet platform companies such as No. 1 Pharmacy attended the meeting.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/21f1b41cc853acfa05723ca08856323c","relate_stocks":{"00700":"腾讯控股","09988":"阿里巴巴-W","09618":"京东集团-SW","JD":"京东","BABA":"阿里巴巴"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171332325","content_text":"据中新网报道，广东省市场监督管理局会同广东省网络安全和信息化委员会办公室、国家税务总局广东省税务局召开互联网平台企业行政指导会。\n会议指出，广东平台经济发展迅猛，市场规模持续扩大，平台经济总体态势向好。但在快速发展的同时，风险与隐患也逐渐累积，危害不容忽视，依法规范刻不容缓。强迫实施“二选一”、实施“掐尖并购”、烧钱抢占“社区团购”市场、实施“大数据杀熟”、“假冒伪劣”、“信息泄露”、“消费欺诈”、“虚假宣传”、“网络传销”等问题必须严肃整治。\n阿里巴巴、腾讯控股、京东、唯品会、苏宁易购、壹号大药房等多家互联网平台企业代表参加会议。","news_type":1,"symbols_score_info":{"09988":0.9,"00700":0.9,"09618":0.9,"BABA":0.9,"JD":0.9}},"isVote":1,"tweetType":1,"viewCount":1856,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":109313675,"gmtCreate":1619663994497,"gmtModify":1704727639065,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"666666666","listText":"666666666","text":"666666666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/109313675","repostId":"2131306661","repostType":4,"isVote":1,"tweetType":1,"viewCount":1920,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":371139923,"gmtCreate":1618918712362,"gmtModify":1704716839819,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"6666666","listText":"6666666","text":"6666666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/371139923","repostId":"1115381700","repostType":4,"repost":{"id":"1115381700","kind":"news","pubTimestamp":1618916552,"share":"https://ttm.financial/m/news/1115381700?lang=en_US&edition=fundamental","pubTime":"2021-04-20 19:02","market":"us","language":"zh","title":"Technology giants are building cars one after another, which is actually just a stepping stone","url":"https://stock-news.laohu8.com/highlight/detail?id=1115381700","media":"锐问 Record","summary":"加入中国电动车俱乐部，要先搞定2张门票。","content":"<p>In the past six months, the headlines of China's auto industry have come from big technology companies. The Shanghai Auto Show, which officially opened on April 19, is no exception.</p><p>Huawei, a smartphone manufacturer that claims not to build cars and wants to be a first-tier supplier, released a customized new model in conjunction with ARCFOX on this day. Zhiji Automobile, jointly built by SAIC and Ali, will also release its first mass-produced car.</p><p>Unlike the new forces investing in car manufacturing in the past five years, smartphone manufacturer Xiaomi and major Internet companies<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>, they all have to build cars themselves. In the future, this team may also have Didi Chuxing.</p><p>Technology giants are increasingly in urgent need of a new field to become a new growth point after the era of smartphones. Smart electric vehicles are one of the new directions they are looking for.</p><p>But from investing to building a car yourself, has it become easier to realize this wish?</p><p><b>To join the China Electric Vehicle Club, you must first get 2 tickets</b></p><p>In China, want to be like<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>To build a smart pure electric vehicle, the new company first needs two licenses. One piece is used to build factories and cars, led by the National Development and Reform Commission; One piece is used to build a company and sell cars, which is under the management of the Ministry of Industry and Information Technology.</p><p><img src=\"https://static.tigerbbs.com/67adccefb368ef6b178d50400188ab85\" tg-width=\"550\" tg-height=\"334\" referrerpolicy=\"no-referrer\">How many steps are there to become a dual-qualified electric vehicle company? Information source: National Development and Reform Commission, Ministry of Industry and Information Technology</p><p>But the application conditions seem to be gradually relaxing.</p><p>The first license plate is hard to get. In June 2017, China<a href=\"https://laohu8.com/S/600617\">National New Energy</a>In the controversy over automobile overcapacity, the National Development and Reform Commission no longer announced the approval information of new projects, and there was news that the approval had been substantially suspended. Now, even if access for new companies to build factories and build cars is reopened, they still face time-consuming approval cycles.</p><p>But it's not that there's no solution at all. Yao Lijuan, a partner at King & Wood Mallesons, believes that it will be easier for traditional car manufacturers that already have experience in manufacturing complete vehicles or parts to apply for production qualifications. In addition to independently applying for qualifications, for new car-making forces, they can also choose OEM production or directly acquire existing car manufacturers.</p><p>Among them, the automobile OEM model is gradually being recognized by policies.</p><p>In May 2018,<a href=\"https://laohu8.com/S/NIO\">Nio</a>Since the delivery of the first batch of mass-produced ES8, car owners have successively picked the \"JAC\" tail logo. Because according to the \"Measures for the Administration of External Identification of Automobile Products\" implemented in 2005, the rear of the car must have a modern factory brand.</p><p>In this regard, Li Bin, CEO of Nio, once said that the state's mandatory requirement for passenger cars to paste the name of manufacturer is out of date. For start-ups in the brand cultivation period, this regulation adds additional difficulty and also increases communication costs.</p><p>In other words, at that time, automobile OEM was still in the gray area of supervision.</p><p>It was not until December 2018 in the \"Measures for the Administration of Road Motor Vehicle Manufacturers and Product Access\" that the Ministry of Industry and Information Technology affirmed the automobile OEM model at the policy level for the first time, and also put forward new requirements. For example, new car companies that have not obtained production qualifications need to produce 30,000 vehicles by OEM before they are eligible to apply for qualifications and build factories.</p><p>The draft OEM management measures have not yet been released. However, in May 2020, at the second \"Ministerial Channel\" question-and-answer press conference of the Third Session of the 13th National People's Congress, Miao Wei, Minister of the Ministry of Industry and Information Technology, mentioned the orderly liberalization of OEM production of new energy companies, as well as the research and development of innovative new energy vehicle companies, implement brand authorization pilots.</p><p><img src=\"https://static.tigerbbs.com/d8124e0022f80c4d05da77d77d848146\" tg-width=\"550\" tg-height=\"445\" referrerpolicy=\"no-referrer\">At present, there are 18 companies on the market that have obtained this qualification. Source: According to public information, Tram Exchange</p><p>The process of applying for qualifications is slow and full of uncertainties, and the faster and more expensive way is to directly acquire an already qualified company. Zhao Gang, vice president of Leapmotor, once said, \"In the industry now, a qualification is about 400 million.\"</p><p>This price does not include the invisible debt behind the acquisition company that is difficult to figure out. For example, in September 2018, BYTON 1 yuan acquired FAW Huali and took over the latter's 800 million yuan debt. Later, BYTON couldn't raise money, and it was busy paying off debts due to money shortage.</p><p>Later,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Acquired Chongqing Lifan, and Evergrande acquired Guoneng. For new companies, there are fewer and fewer qualifications that can be acquired, and the asking price of suitable qualifications will only be higher.</p><p>Nio insists on the OEM model. Its co-founder Qin Lihong once said, \"We also like qualifications, but if you ask me to spend 1 billion to buy an empty shell, I will definitely not do it. We will not obtain production qualifications by acquiring shell resources.\"</p><p>In September last year, the application conditions for the second license were also relaxed.</p><p>In September 2020, the new regulations of the Ministry of Industry, Information and Information Technology of China's \"Regulations on the Administration of New Energy Vehicle Manufacturers and Product Access\" deleted the requirement of \"design and development capabilities\". In other words, if technology companies such as Xiaomi or Baidu want to apply for a company to build electric vehicles, they are no longer required to independently develop core technologies-batteries, motors and electronic controls.</p><p>Song Jian, executive vice president of Tsinghua University Automotive Engineering Development Research Institute, believes that the new regulations have lowered the entry threshold for enterprises and their products, and more new players are bound to enter the market to build cars, especially RMB players.</p><p>They can buy R&D technology, production technology, safety technology, etc., and even directly buy a traditional car factory, and successfully put products with reliable quality and users' favorite products on the market.</p><p>But after entering 2020, China's electric vehicle market has become cruel. No matter how fast the production car is pushed, the window period has closed. With the end of subsidies and the introduction of foreign capital, new companies are bound to face more intense competition. Xiaomi, Baidu, and Didi may face competitors not only Tesla, Nio, and XPeng, but also Volkswagen, General Motors, and Toyota.</p><p><b>The stepping stone to building a car is still a bit hard</b></p><p>Generally speaking, new companies will concentrate their superior resources to make a good car, and then push new models at a certain frequency. Tesla spent three years polishing the Model S before launching a new car in two years. Nio, Ideal, and XPeng also spent about four years each building their first production car.</p><p>But not all companies can succeed. If you are willing to spend money, you may not be able to build a good car. Dyson, which built hair dryers, spent four years and 2.5 billion pounds (about 22.7 billion yuan) to abandon its car-building plan.</p><p>Dyson and Old<a href=\"https://laohu8.com/S/GLP\">Partners Global</a>Peter Gammack, vice president of design and technology, personally checked the body design, trial and error. But car design pays attention to precision, and the learning curve is steep. Therefore, they also hired many people in the auto industry to point out the problems.</p><p>Since 2016, Dyson has added two more automotive professionals to its board of directors. Comprising,<a href=\"https://laohu8.com/S/AMLN.UK\">Aston Martin</a>Ian Minards, former chief engineer, and Ian Robertson, a key supporter of BMW's electric vehicle plan.</p><p><img src=\"https://static.tigerbbs.com/647a748492535a79d1257995c247452e\" tg-width=\"550\" tg-height=\"364\" referrerpolicy=\"no-referrer\">Dyson Concept EV</p><p>Even with a bunch of automotive professionals checking the gate, the Dyson concept car still adopts a series of radical designs. Including a low roof, larger wheels, frameless window glass, and a \"suicide\" door that only luxury cars are equipped with.</p><p>In addition to research and development and planning of new models, OEMs are also responsible for integrating complete vehicles. The supplier is responsible for developing and producing parts. Although the number of parts of electric vehicles is smaller than that of fuel vehicles, every innovative design will increase the difficulty and cost of supplier development. The difficulty for OEMs to manage suppliers will also increase exponentially.</p><p>For big tires alone, Dyson has discussed the feasibility with several suppliers. In the end, only two tire manufacturers felt it could be done-Princestone of Japan and Michelin of France.</p><p>The more special design is inside the car. Dyson hired a group of engineers who had never been exposed to automobile air-conditioning systems, and built a set that could heat and cool this 7-seat SUV in zones, and also save electricity.</p><p>In addition to the body design, there is no need to stop to charge during urban journeys, and longer battery life is also the main selling point of Dyson. To this end, they have to independently develop suspension for more batteries, and make more space on it.</p><p>Similar to Dyson, major Chinese technology companies may not have to worry about brand appeal, and powerful suppliers are happy to cooperate. However, once the cost of difficult car design exceeds expectations, one car will lose money, and no amount of money will be able to fill the hole.</p><p>They may also fail to deliver goods on schedule, do not meet quality requirements, and have unclear standards, resulting in delays in projects. In China, the 15 engineering prototype vehicles handed over to the Ministry of Industry and Information Technology for inspection still need to meet safety regulations, and a professional team must know how to communicate with national ministries and commissions.</p><p>Due to the different sizes and processes of each model, the requirements for the production line are also different. Car companies usually put one or two models in one factory for centralized production. Leaner to invest and manage. To this end, Dyson specially purchased and repaired an airport, its warehouse and runway.</p><p>For new companies, if a new factory is put into production, it is necessary to synchronize the progress of civil engineering, including obtaining environmental impact assessment, fire protection, and civil engineering accreditation qualifications. Imported equipment should also follow up logistics. Once any link gets stuck, the capital flow needs to keep up.</p><p>In the end, James Dyson once lamented to the reporter of the Financial Times that he spent a lot of effort on research and development, but finally found that the mass production cost was too high. Batteries, battery management, electronics and cooling systems are much more expensive than internal combustion engines. \"To level the income and expenditure, an electric car has to sell at least $300,000.\"</p><p>It is already easier to mass-produce high-end models than low-end models. Buy one<a href=\"https://laohu8.com/S/RRN.UK\">Rolls-Royce</a>People believe in manufacturing technology; People who buy a Toyota Corolla are after failure-free, fuel-efficient and smooth. With an annual output of hundreds of thousands, reliability is the primary goal of automobiles.</p><p>In February of this year, Tesla CEO Musk also admitted that it is difficult to ensure that the details do not go wrong when the production capacity is ramping up. In a public interview, he advised consumers to either buy at the beginning or wait until the output stabilizes before buying.</p><p>A person close to Xiaomi's automobile research project once told Caixin that Xiaomi pursues cost-effectiveness, and it is likely to build cars in volume. Therefore, mass production is very important. But can car companies fully supply? Can supply chains such as batteries and chips keep up? I'm afraid the car companies themselves cannot guarantee these problems.</p><p>It is still a complicated project for a technology company to build a car that will continue to drive in rain, snow, wind and snow for 15 years.</p><p><b>Now no one has found a better way to make money except selling cars</b></p><p>In the era of fuel vehicles, traditional car manufacturers have established a 4S store distribution network to make a fortune when selling complete vehicles and another when repairing and maintaining them. Moreover, selling accessories is far more profitable than selling complete vehicles. In addition, supporting auto finance, such as loans to buy cars, is also an important source of profit.</p><p>An electric vehicle is more like an electronic device and requires less maintenance. Direct store sales can indeed ensure the sales experience and maximize profits. Looking at Tesla's 2020 books, the revenue was US $31.5 billion, 94% of which came from selling cars. The remaining 6% comes from selling regulatory points, software, and even brand peripherals.</p><p>Every extra car sold will dilute the cost of developing a model. However, since selling cars for 12 years, Tesla has suffered losses so far. Last year, it made $721 million by selling environmental supervision points to traditional car manufacturers. The previous year, it still lost $862 million on the books.</p><p>It seems that the era of electric vehicles has not yet arrived.</p><p>For consumers, purchasing electric vehicles may not be the best choice at this stage. \"Car Review No. 38\" once calculated that in China, if car purchase and electricity price subsidies are not considered, and depreciation is included, buying an electric vehicle is not more cost-effective than a fuel vehicle at this stage.</p><p><img src=\"https://static.tigerbbs.com/da93ed97c8c172097f872e34eed8f4f2\" tg-width=\"550\" tg-height=\"295\" referrerpolicy=\"no-referrer\"></p><p>Most of the reasons why people buy electric vehicles do not come from the manufacturer's product strength itself. In the 2021 McKinsey China Automobile Consumption Report, more than half of consumers' willingness to buy electric vehicles is based on some controversial views.</p><p>For example, 68% of respondents believe that electric vehicles are more environmentally friendly. However, until there is better battery recycling technology, electric vehicles are not necessarily more environmentally friendly.</p><p>Driven by policies such as environmental protection, battery costs have not dropped, and technology companies' cross-border manufacturing of electric vehicles cannot completely subvert the traditional automobile industry. But only when more people use their own hardware will they be likely to make money from technology in the future.</p><p>Last year, Tesla won the sales championship in China's pure electric vehicle market, selling 137,000 Model 3s. According to Wang Yongqing, general manager of Shanghai GM, it is difficult for traditional car companies to give up 95% of the existing fuel vehicle market. For pure electric vehicles with distinctive characteristics, the cash flow brought by higher selling prices can also support their bold application of new technologies.</p><p><img src=\"https://static.tigerbbs.com/2ec80237966c03fbc31c3e4dba9586fd\" tg-width=\"550\" tg-height=\"309\" referrerpolicy=\"no-referrer\">Top 10 best-selling pure electric vehicle models in China in 2020 Data source: China Association of Automobile Manufacturers</p><p>Building and selling cars is just a stepping stone. What is more noteworthy is that major technology companies are developing autonomous driving technology.</p><p>In December 2020, there were constant rumors<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Finally, there are new rumors about the construction plan. Apple is indeed still working on a complete vehicle. This may be a self-driving car based on the modern electric vehicle platform E-GMP. The car chip has evolved from the A12 bionic chip and is equipped with breakthrough battery technology.</p><p>May be involved in Xiaomi's car manufacturing<a href=\"https://laohu8.com/S/688169\">Stone Technology</a>, is also independently developing multi-line lidar. This technology can be used not only in its flagship product, sweeping robots, but also in self-driving cars. The Jihu Alpha S equipped with Huawei'S ADS autonomous driving system has been unveiled at the Shanghai Auto Show and is expected to be delivered within this year.</p><p>Tesla, Uber, Google, and Apple have all envisioned the same future.</p><p>Robots will eventually rule the transportation industry. Unmanned vehicles carry passengers on the road and through the air, and drones are responsible for delivering goods. And companies with driverless technology will be at the center of all this. Better integration of hardware, software and services will become its core competitiveness.</p><p>By then, as Tesla CEO elon musk once envisioned-the company's profit growth will mainly come from self-driving travel services and paid software. If then, Tesla would still be the best-selling smart electric car brand.</p>","source":"lsy1616056435833","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>Technology giants are building cars one after another, which is actually just a stepping stone</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\">\nTechnology giants are building cars one after another, which is actually just a stepping stone\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">锐问 Record</strong><span class=\"h-time small\">2021-04-20 19:02</span>\n</p>\n</h4>\n</header>\n<article>\n<p>In the past six months, the headlines of China's auto industry have come from big technology companies. The Shanghai Auto Show, which officially opened on April 19, is no exception.</p><p>Huawei, a smartphone manufacturer that claims not to build cars and wants to be a first-tier supplier, released a customized new model in conjunction with ARCFOX on this day. Zhiji Automobile, jointly built by SAIC and Ali, will also release its first mass-produced car.</p><p>Unlike the new forces investing in car manufacturing in the past five years, smartphone manufacturer Xiaomi and major Internet companies<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>, they all have to build cars themselves. In the future, this team may also have Didi Chuxing.</p><p>Technology giants are increasingly in urgent need of a new field to become a new growth point after the era of smartphones. Smart electric vehicles are one of the new directions they are looking for.</p><p>But from investing to building a car yourself, has it become easier to realize this wish?</p><p><b>To join the China Electric Vehicle Club, you must first get 2 tickets</b></p><p>In China, want to be like<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>To build a smart pure electric vehicle, the new company first needs two licenses. One piece is used to build factories and cars, led by the National Development and Reform Commission; One piece is used to build a company and sell cars, which is under the management of the Ministry of Industry and Information Technology.</p><p><img src=\"https://static.tigerbbs.com/67adccefb368ef6b178d50400188ab85\" tg-width=\"550\" tg-height=\"334\" referrerpolicy=\"no-referrer\">How many steps are there to become a dual-qualified electric vehicle company? Information source: National Development and Reform Commission, Ministry of Industry and Information Technology</p><p>But the application conditions seem to be gradually relaxing.</p><p>The first license plate is hard to get. In June 2017, China<a href=\"https://laohu8.com/S/600617\">National New Energy</a>In the controversy over automobile overcapacity, the National Development and Reform Commission no longer announced the approval information of new projects, and there was news that the approval had been substantially suspended. Now, even if access for new companies to build factories and build cars is reopened, they still face time-consuming approval cycles.</p><p>But it's not that there's no solution at all. Yao Lijuan, a partner at King & Wood Mallesons, believes that it will be easier for traditional car manufacturers that already have experience in manufacturing complete vehicles or parts to apply for production qualifications. In addition to independently applying for qualifications, for new car-making forces, they can also choose OEM production or directly acquire existing car manufacturers.</p><p>Among them, the automobile OEM model is gradually being recognized by policies.</p><p>In May 2018,<a href=\"https://laohu8.com/S/NIO\">Nio</a>Since the delivery of the first batch of mass-produced ES8, car owners have successively picked the \"JAC\" tail logo. Because according to the \"Measures for the Administration of External Identification of Automobile Products\" implemented in 2005, the rear of the car must have a modern factory brand.</p><p>In this regard, Li Bin, CEO of Nio, once said that the state's mandatory requirement for passenger cars to paste the name of manufacturer is out of date. For start-ups in the brand cultivation period, this regulation adds additional difficulty and also increases communication costs.</p><p>In other words, at that time, automobile OEM was still in the gray area of supervision.</p><p>It was not until December 2018 in the \"Measures for the Administration of Road Motor Vehicle Manufacturers and Product Access\" that the Ministry of Industry and Information Technology affirmed the automobile OEM model at the policy level for the first time, and also put forward new requirements. For example, new car companies that have not obtained production qualifications need to produce 30,000 vehicles by OEM before they are eligible to apply for qualifications and build factories.</p><p>The draft OEM management measures have not yet been released. However, in May 2020, at the second \"Ministerial Channel\" question-and-answer press conference of the Third Session of the 13th National People's Congress, Miao Wei, Minister of the Ministry of Industry and Information Technology, mentioned the orderly liberalization of OEM production of new energy companies, as well as the research and development of innovative new energy vehicle companies, implement brand authorization pilots.</p><p><img src=\"https://static.tigerbbs.com/d8124e0022f80c4d05da77d77d848146\" tg-width=\"550\" tg-height=\"445\" referrerpolicy=\"no-referrer\">At present, there are 18 companies on the market that have obtained this qualification. Source: According to public information, Tram Exchange</p><p>The process of applying for qualifications is slow and full of uncertainties, and the faster and more expensive way is to directly acquire an already qualified company. Zhao Gang, vice president of Leapmotor, once said, \"In the industry now, a qualification is about 400 million.\"</p><p>This price does not include the invisible debt behind the acquisition company that is difficult to figure out. For example, in September 2018, BYTON 1 yuan acquired FAW Huali and took over the latter's 800 million yuan debt. Later, BYTON couldn't raise money, and it was busy paying off debts due to money shortage.</p><p>Later,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Acquired Chongqing Lifan, and Evergrande acquired Guoneng. For new companies, there are fewer and fewer qualifications that can be acquired, and the asking price of suitable qualifications will only be higher.</p><p>Nio insists on the OEM model. Its co-founder Qin Lihong once said, \"We also like qualifications, but if you ask me to spend 1 billion to buy an empty shell, I will definitely not do it. We will not obtain production qualifications by acquiring shell resources.\"</p><p>In September last year, the application conditions for the second license were also relaxed.</p><p>In September 2020, the new regulations of the Ministry of Industry, Information and Information Technology of China's \"Regulations on the Administration of New Energy Vehicle Manufacturers and Product Access\" deleted the requirement of \"design and development capabilities\". In other words, if technology companies such as Xiaomi or Baidu want to apply for a company to build electric vehicles, they are no longer required to independently develop core technologies-batteries, motors and electronic controls.</p><p>Song Jian, executive vice president of Tsinghua University Automotive Engineering Development Research Institute, believes that the new regulations have lowered the entry threshold for enterprises and their products, and more new players are bound to enter the market to build cars, especially RMB players.</p><p>They can buy R&D technology, production technology, safety technology, etc., and even directly buy a traditional car factory, and successfully put products with reliable quality and users' favorite products on the market.</p><p>But after entering 2020, China's electric vehicle market has become cruel. No matter how fast the production car is pushed, the window period has closed. With the end of subsidies and the introduction of foreign capital, new companies are bound to face more intense competition. Xiaomi, Baidu, and Didi may face competitors not only Tesla, Nio, and XPeng, but also Volkswagen, General Motors, and Toyota.</p><p><b>The stepping stone to building a car is still a bit hard</b></p><p>Generally speaking, new companies will concentrate their superior resources to make a good car, and then push new models at a certain frequency. Tesla spent three years polishing the Model S before launching a new car in two years. Nio, Ideal, and XPeng also spent about four years each building their first production car.</p><p>But not all companies can succeed. If you are willing to spend money, you may not be able to build a good car. Dyson, which built hair dryers, spent four years and 2.5 billion pounds (about 22.7 billion yuan) to abandon its car-building plan.</p><p>Dyson and Old<a href=\"https://laohu8.com/S/GLP\">Partners Global</a>Peter Gammack, vice president of design and technology, personally checked the body design, trial and error. But car design pays attention to precision, and the learning curve is steep. Therefore, they also hired many people in the auto industry to point out the problems.</p><p>Since 2016, Dyson has added two more automotive professionals to its board of directors. Comprising,<a href=\"https://laohu8.com/S/AMLN.UK\">Aston Martin</a>Ian Minards, former chief engineer, and Ian Robertson, a key supporter of BMW's electric vehicle plan.</p><p><img src=\"https://static.tigerbbs.com/647a748492535a79d1257995c247452e\" tg-width=\"550\" tg-height=\"364\" referrerpolicy=\"no-referrer\">Dyson Concept EV</p><p>Even with a bunch of automotive professionals checking the gate, the Dyson concept car still adopts a series of radical designs. Including a low roof, larger wheels, frameless window glass, and a \"suicide\" door that only luxury cars are equipped with.</p><p>In addition to research and development and planning of new models, OEMs are also responsible for integrating complete vehicles. The supplier is responsible for developing and producing parts. Although the number of parts of electric vehicles is smaller than that of fuel vehicles, every innovative design will increase the difficulty and cost of supplier development. The difficulty for OEMs to manage suppliers will also increase exponentially.</p><p>For big tires alone, Dyson has discussed the feasibility with several suppliers. In the end, only two tire manufacturers felt it could be done-Princestone of Japan and Michelin of France.</p><p>The more special design is inside the car. Dyson hired a group of engineers who had never been exposed to automobile air-conditioning systems, and built a set that could heat and cool this 7-seat SUV in zones, and also save electricity.</p><p>In addition to the body design, there is no need to stop to charge during urban journeys, and longer battery life is also the main selling point of Dyson. To this end, they have to independently develop suspension for more batteries, and make more space on it.</p><p>Similar to Dyson, major Chinese technology companies may not have to worry about brand appeal, and powerful suppliers are happy to cooperate. However, once the cost of difficult car design exceeds expectations, one car will lose money, and no amount of money will be able to fill the hole.</p><p>They may also fail to deliver goods on schedule, do not meet quality requirements, and have unclear standards, resulting in delays in projects. In China, the 15 engineering prototype vehicles handed over to the Ministry of Industry and Information Technology for inspection still need to meet safety regulations, and a professional team must know how to communicate with national ministries and commissions.</p><p>Due to the different sizes and processes of each model, the requirements for the production line are also different. Car companies usually put one or two models in one factory for centralized production. Leaner to invest and manage. To this end, Dyson specially purchased and repaired an airport, its warehouse and runway.</p><p>For new companies, if a new factory is put into production, it is necessary to synchronize the progress of civil engineering, including obtaining environmental impact assessment, fire protection, and civil engineering accreditation qualifications. Imported equipment should also follow up logistics. Once any link gets stuck, the capital flow needs to keep up.</p><p>In the end, James Dyson once lamented to the reporter of the Financial Times that he spent a lot of effort on research and development, but finally found that the mass production cost was too high. Batteries, battery management, electronics and cooling systems are much more expensive than internal combustion engines. \"To level the income and expenditure, an electric car has to sell at least $300,000.\"</p><p>It is already easier to mass-produce high-end models than low-end models. Buy one<a href=\"https://laohu8.com/S/RRN.UK\">Rolls-Royce</a>People believe in manufacturing technology; People who buy a Toyota Corolla are after failure-free, fuel-efficient and smooth. With an annual output of hundreds of thousands, reliability is the primary goal of automobiles.</p><p>In February of this year, Tesla CEO Musk also admitted that it is difficult to ensure that the details do not go wrong when the production capacity is ramping up. In a public interview, he advised consumers to either buy at the beginning or wait until the output stabilizes before buying.</p><p>A person close to Xiaomi's automobile research project once told Caixin that Xiaomi pursues cost-effectiveness, and it is likely to build cars in volume. Therefore, mass production is very important. But can car companies fully supply? Can supply chains such as batteries and chips keep up? I'm afraid the car companies themselves cannot guarantee these problems.</p><p>It is still a complicated project for a technology company to build a car that will continue to drive in rain, snow, wind and snow for 15 years.</p><p><b>Now no one has found a better way to make money except selling cars</b></p><p>In the era of fuel vehicles, traditional car manufacturers have established a 4S store distribution network to make a fortune when selling complete vehicles and another when repairing and maintaining them. Moreover, selling accessories is far more profitable than selling complete vehicles. In addition, supporting auto finance, such as loans to buy cars, is also an important source of profit.</p><p>An electric vehicle is more like an electronic device and requires less maintenance. Direct store sales can indeed ensure the sales experience and maximize profits. Looking at Tesla's 2020 books, the revenue was US $31.5 billion, 94% of which came from selling cars. The remaining 6% comes from selling regulatory points, software, and even brand peripherals.</p><p>Every extra car sold will dilute the cost of developing a model. However, since selling cars for 12 years, Tesla has suffered losses so far. Last year, it made $721 million by selling environmental supervision points to traditional car manufacturers. The previous year, it still lost $862 million on the books.</p><p>It seems that the era of electric vehicles has not yet arrived.</p><p>For consumers, purchasing electric vehicles may not be the best choice at this stage. \"Car Review No. 38\" once calculated that in China, if car purchase and electricity price subsidies are not considered, and depreciation is included, buying an electric vehicle is not more cost-effective than a fuel vehicle at this stage.</p><p><img src=\"https://static.tigerbbs.com/da93ed97c8c172097f872e34eed8f4f2\" tg-width=\"550\" tg-height=\"295\" referrerpolicy=\"no-referrer\"></p><p>Most of the reasons why people buy electric vehicles do not come from the manufacturer's product strength itself. In the 2021 McKinsey China Automobile Consumption Report, more than half of consumers' willingness to buy electric vehicles is based on some controversial views.</p><p>For example, 68% of respondents believe that electric vehicles are more environmentally friendly. However, until there is better battery recycling technology, electric vehicles are not necessarily more environmentally friendly.</p><p>Driven by policies such as environmental protection, battery costs have not dropped, and technology companies' cross-border manufacturing of electric vehicles cannot completely subvert the traditional automobile industry. But only when more people use their own hardware will they be likely to make money from technology in the future.</p><p>Last year, Tesla won the sales championship in China's pure electric vehicle market, selling 137,000 Model 3s. According to Wang Yongqing, general manager of Shanghai GM, it is difficult for traditional car companies to give up 95% of the existing fuel vehicle market. For pure electric vehicles with distinctive characteristics, the cash flow brought by higher selling prices can also support their bold application of new technologies.</p><p><img src=\"https://static.tigerbbs.com/2ec80237966c03fbc31c3e4dba9586fd\" tg-width=\"550\" tg-height=\"309\" referrerpolicy=\"no-referrer\">Top 10 best-selling pure electric vehicle models in China in 2020 Data source: China Association of Automobile Manufacturers</p><p>Building and selling cars is just a stepping stone. What is more noteworthy is that major technology companies are developing autonomous driving technology.</p><p>In December 2020, there were constant rumors<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Finally, there are new rumors about the construction plan. Apple is indeed still working on a complete vehicle. This may be a self-driving car based on the modern electric vehicle platform E-GMP. The car chip has evolved from the A12 bionic chip and is equipped with breakthrough battery technology.</p><p>May be involved in Xiaomi's car manufacturing<a href=\"https://laohu8.com/S/688169\">Stone Technology</a>, is also independently developing multi-line lidar. This technology can be used not only in its flagship product, sweeping robots, but also in self-driving cars. The Jihu Alpha S equipped with Huawei'S ADS autonomous driving system has been unveiled at the Shanghai Auto Show and is expected to be delivered within this year.</p><p>Tesla, Uber, Google, and Apple have all envisioned the same future.</p><p>Robots will eventually rule the transportation industry. Unmanned vehicles carry passengers on the road and through the air, and drones are responsible for delivering goods. And companies with driverless technology will be at the center of all this. Better integration of hardware, software and services will become its core competitiveness.</p><p>By then, as Tesla CEO elon musk once envisioned-the company's profit growth will mainly come from self-driving travel services and paid software. If then, Tesla would still be the best-selling smart electric car brand.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://finance.sina.com.cn/tech/csj/2021-04-20/doc-ikmyaawc0804418.shtml\">锐问 Record</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/747a43d33fdea5605f94cd4071257af1","relate_stocks":{"BIDU":"百度","AAPL":"苹果","01810":"小米集团-W","09888":"百度集团-SW"},"source_url":"http://finance.sina.com.cn/tech/csj/2021-04-20/doc-ikmyaawc0804418.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115381700","content_text":"最近半年，中国汽车业的头条新闻都来自科技大公司。4月19日正式开幕的上海车展也不例外。\n声称不造车，想做一级供应商的智能手机厂商华为，这天联合北汽极狐（ARCFOX）发布了定制的新车型。上汽和阿里联合打造的智已汽车也要发布首款量产车。\n和过去5年里，投资造车新势力不同，智能手机厂商小米和互联网大公司百度，都要亲自下场造车。未来，这个队伍可能还有滴滴出行。\n科技巨头们越来越迫切需要一个新领域，成为智能手机时代之后的新增长点。智能电动汽车是它们找的新方向之一。\n但从投资到亲自造车，想要实现这一愿望变容易了么？\n加入中国电动车俱乐部，要先搞定2张门票\n在中国，想要像特斯拉一样造智能纯电动汽车，新公司首先需要两块牌照。一块用来建厂造车，由国家发改委主导；一块用来建公司，卖车，归工信部管。\n成为双资质电动车企，一共分几步？信息来源：发改委、工信部\n但申请条件似乎在逐渐放宽。\n第一块牌照很难拿。2017年6月，中国新能源汽车产能过剩的争议中，发改委不再公布新项目审批信息，一度传出审批实质上已暂停的消息。现在，即使新公司建厂造车的准入重新开放，它们也面临耗时的审批周期。\n可也不是完全没有解决方案。金杜律师事务所合伙人姚丽娟认为，申请生产资质的话，已经有整车或者零部件制造经验的传统车厂会更容易些。除了独立申请资质外，对造车新势力来说，还可以选择代工生产或者直接收购现有汽车生产企业。\n其中，汽车代工模式正在逐渐被政策认可。\n2018年5月，蔚来交付首批量产ES8以来，陆续出现过车主抠“江淮”尾标。因为照2005年施行的《汽车产品外部标识管理办法》，车尾必须出现代工厂品牌。\n对此，蔚来CEO李斌曾表示，国家强制要求乘用车粘贴生产企业名称的规定已经不合时宜，对于处在品牌培育期的初创企业，这项规定增加了额外的难度，同时也增加了沟通成本。\n换句话说，当时汽车代工还在监管的灰色地带。\n直到2018年12月《道路机动车辆生产企业及产品准入管理办法》中，工信部才首次在政策层面肯定了汽车代工模式，同时也提了新要求。比如，未获得生产资质的新造车企业需先代工生产3万辆，才有资格申请资质以及建设工厂。\n代工管理办法草案目前尚未出台。不过，2020年5月，第十三届全国人大三次会议第二场“部长通道”问答记者会上，工信部部长苗圩提到，有序放开新能源企业代工生产，以及对于研发创新型新能源汽车企业，实行品牌授权试点。\n目前，市面上拿到这一资质的公司共18家。来源：据公开信息整理，电车汇\n申请资质进程缓慢，充满不确定性，而更快，也更花钱的办法是直接收购一家已经有资质的公司。零跑汽车副总裁赵刚曾表示，“现在行业里，一个资质大概4个亿。”\n这一价格不包括收购企业背后难以摸清的隐形债务。比如，2018年9月，拜腾1元收购一汽华利，接管后者8亿元债务。后来，拜腾融不到钱，闹钱荒还要忙着还债。\n后来，理想汽车收购重庆力帆，恒大收购国能。对新入场的公司而言，可收购的资质已经越来越少，其中合适的资质要价只会更高。\n而蔚来坚持代工模式。其联合创始人秦力洪曾表示，“资质我们也喜欢，但你让我花10个亿去买个空壳，我肯定不干。我们不会通过收购壳资源获得生产资质。”\n去年9月，第二块牌照的申请条件也放宽了。\n2020年9月，中国工信和信息化部《新能源汽车生产企业及产品准入管理规定》新规，删除了关于“设计开发能力” 的要求。也就是说，小米或者百度这些科技公司想要申请一家公司造电动车，不再要求必须自主研发核心技术——电池、电机和电控。\n清华大学汽车工程开发研究院常务副院长宋健认为，新规降低了企业及其产品的准入门槛，更多新玩家势必进场造车，特别是人民币玩家。\n他们能购买研发技术、生产技术、安全技术等，甚至直接买下一家传统车厂，顺利将质量可靠、用户喜爱的产品投向市场。\n可进入2020年后，中国电动汽车市场变得残酷起来。量产车推得再快，窗口期也已经关闭。补贴结束，外资引入，新公司势必面临更激烈的竞争。小米、百度、滴滴可能面对的竞争对手，不只有特斯拉、蔚来、小鹏，还有大众、通用和丰田。\n造车这块敲门砖，还是有点硬\n一般来说，新入场的公司会集中优势资源做好一辆车，再按照一定频率推新车型。特斯拉花3年打磨 Model S，才开始两年推一款新车。蔚来、理想、小鹏也各自花了约4年时间打造第一款量产车。\n但不是所有公司都能成功。肯花钱也不一定能造好车。造电吹风的戴森耗了四年时间，花了25亿英镑（约227亿元人民币），放弃了造车计划。\n戴森和老伙伴全球设计和技术副总裁彼得·盖马克（Peter Gammack）亲自把关车身设计，反复试验。但汽车设计讲究精度，学习曲线陡峭。因此，他们还聘用了很多汽车业人士，用来指出问题所在。\n2016年起，戴森董事会里多了两位汽车专业人士。包括，阿斯顿马丁前总工程师Ian Minards和宝马电动车计划的重要支持者Ian Robertson。\n戴森概念电动车\n即使有一帮汽车专业人士把关，戴森概念车还是采用了一系列激进的设计。包括低矮的车顶、更大的车轮、无框的窗玻璃，以及豪车才会配置的“自杀”门。\n除了研发、规划新车型，主机厂还要负责集成整车。而供应商负责开发、生产零部件。虽然电动汽车的零部件数量比燃油车要少，但每一个创新的设计，都会增加供应商开发难度和成本。主机厂管理供应商的难度，也会指数级上升。\n光是大轮胎，戴森就和好几家供应商讨论过可行性。最后只有两家轮胎制造商觉得可以做到——日本的普林斯通和法国的米其林。\n更特别的设计在汽车内部。戴森请了一批从未接触过汽车空气调节系统的工程师，搞了一套能给这辆7座SUV分区加热、制冷的，而且还要做到省电。\n除了车身设计，不用在城市旅途中停下来充电，更长的续航时间也是戴森汽车主打的卖点。为此，他们不得不为更多的电池，自主研发悬架，并在上面腾出更多的空间。\n和戴森类似，中国科技大公司或许也不用担心品牌号召力，有实力的供应商乐得合作。但高难度的汽车设计，一旦成本超出预期，造一台亏一台，有多少钱都填不上这个窟窿。\n它们还有可能无法如期交货，不按质量要求行事，标准扯不清楚，导致项目一拖再拖。在中国，交给工信部检验的15辆工程样车，还需要满足安全法规，要有专业团队懂得和国家部委上下沟通。\n由于每款车型的尺寸、工艺不同，对生产线的要求也不同。车企通常会把一、两个车型放在一个工厂集中生产。投资和管理起来更加精益。为此，戴森专门购买并修复了一座机场，及其仓库和跑道。\n对新公司来说，如果有新厂投产，还要同步土建进度，包括拿到环评，消防，土建认可资格。进口设备也要跟进物流。一旦哪个环节卡壳，资金流需要跟得上。\n最终，詹姆斯·戴森曾对《金融时报》的记者感慨，花了很多力气研发，但最后发现量产成本太高了。电池，电池管理，电子设备和冷却系统比内燃机要贵得多。“要收支打平，电动车至少得卖30万美元一辆。”\n而量产高端车型已经比中低端车型容易。买一辆劳斯莱斯的人，信奉的是制造工艺；买一辆丰田卡罗拉的人，追求的是不出故障、省油和平顺。年产数十万以后，可靠性是汽车的首要目标。\n今年2月，特斯拉CEO马斯克也承认，在产能爬坡时，保证细节不出错很难。他曾在公开采访中，建议消费者，要么一开始就买，要么等产量稳定下来再买。\n一位接近小米汽车调研项目的人士曾对《财新》表示，小米追求性价比，它造车大概率要走量的。因此规模量产很重要。但车企能否充分供应？电池、芯片等供应链是不是能跟上？这些问题恐怕车企自己都无法保证。\n科技公司要制造一辆要在雨雪、风雪中持续行驶15年的汽车，至今仍是一项复杂的工程。\n现在除了卖车，没谁找到更好的赚钱办法\n燃油车时代，传统车厂建立4S店经销网络，卖整车时赚一笔钱，维修保养时再赚一笔。而且，卖配件远比卖整车更赚钱。除此之外，配套的汽车金融，比如贷款买车，也是其重要的利润来源。\n电动车更像一台电子设备，不太需要保养。直接开店销售的确更能保证销售体验和利润最大化。翻开特斯拉2020年的账簿，收入315亿美元，其中94%正来自卖车。剩下6%来自出售监管积分、卖软件，甚至是卖品牌周边。\n每多卖一辆车，就会摊薄研发一个车型的成本。不过，卖车12年以来，特斯拉亏损至今。去年，它靠把环保监管积分卖给传统车厂，才赚了7.21亿美元。前一年还账面上都还亏着8.62亿美元。\n属于电动汽车的时代似乎还没有来。\n对消费者来说，现阶段，购置电动车可能也还不是最优选择。《38号车评》曾测算过，在中国，如果不考虑购车和电价补贴，算上折旧，现阶段买电动车并不比燃油车划算。\n\n人们购买电动车的理由，大多还不来自制造商的产品力本身。2021年麦肯锡中国汽车消费报告中，过半的消费者购买电动车的意愿，基于一些尚存争议的观点。\n例如，68%的受访者认为，电动车更环保。然而，在没有更好的电池回收技术前，电动车不一定更环保。\n环保等政策驱动下，电池成本没降下来，科技公司跨界造电动汽车还不能完全颠覆传统的汽车行业。但也只有当更多人使用自己的硬件时，它们未来才有可能靠技术赚钱。\n去年，特斯拉在中国纯电动车市场拿了个销售冠军，卖掉了13.7万辆Model 3。在上海通用总经理王永清看来，传统车企很难放弃现有95%的燃油车市场。而特点鲜明的纯电动车，较高售价带来的现金流，还能支撑其大胆应用新技术。\n2020年，中国卖得最好的纯电动车车型Top10  数据来源：中国汽车工业协会\n造车，卖车只是一块敲门砖。更值得留意的是，科技大公司都正在研发自动驾驶技术。\n2020年12月，一直传言不断的苹果造计划终于有了新传言。苹果确实仍在开发一款整车。这可能是一款基于现代电动车平台E-GMP的自动驾驶汽车，汽车芯片由A12仿生芯片进化而来，并搭载突破性的电池技术。\n可能参与小米造车的石头科技，也正在自主研发多线激光雷达。这一技术既可以用于其主打产品扫地机器人，也许还能用在自动驾驶汽车上。而搭载华为ADS自动驾驶系统的极狐阿尔法S已经亮相上海车展，预计今年年内交付。\n特斯拉、Uber、Google、苹果都曾设想过同一个未来。\n机器人最终会统治交通运输业。无人车载着乘客在道路上和空中穿梭，无人机负责送货。而拥有无人驾驶技术的公司将成为这一切的中心。更好的硬件，软件和服务集成在一起会成为其核心竞争力。\n到时，像特斯拉CEO埃隆·马斯克曾设想的那样——公司利润增长将主要来源于自动驾驶出行服务和付费软件。如果那时，特斯拉还是卖得最好的智能电动汽车品牌。","news_type":1,"symbols_score_info":{"09888":0.9,"BIDU":0.9,"01810":0.9,"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":2226,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":371130725,"gmtCreate":1618918693467,"gmtModify":1704716839497,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"6666","listText":"6666","text":"6666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/371130725","repostId":"1184442046","repostType":4,"repost":{"id":"1184442046","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":1618917047,"share":"https://ttm.financial/m/news/1184442046?lang=en_US&edition=fundamental","pubTime":"2021-04-20 19:10","market":"us","language":"zh","title":"Li Xiang: The self-developed autonomous driving system can compete with Huawei and Tesla next year","url":"https://stock-news.laohu8.com/highlight/detail?id=1184442046","media":"老虎资讯综合","summary":"4月20日，$理想汽车(LI)$李想在$微博(WB)$表示，理想汽车现在和以后，所有车型的辅助驾驶和自动驾驶都是完全标配的，包含软件、数据服务、地图服务、算力硬件、传感器等，既不收软件激活的费用，也不收订阅的费用，无论什么价位的车都一样标配。我们自研的自动驾驶系统（标配508Tops算力和激光雷达）明年完全可以和华为、$特斯拉(TSLA)$正面较量。","content":"<p>April 20th,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Li Xiangzai<a href=\"https://laohu8.com/S/WB\">Weibo</a>He said that now and in the future, assisted driving and autonomous driving of all models of Li Auto are completely standard, including software, data services, map services, computing hardware, sensors, etc. There is neither a software activation fee nor a subscription fee. The cost is the same standard no matter what price car is. Our self-developed autonomous driving system (standard with 508Tops computing power and lidar) can fully compete with Huawei,<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Head-on contest.<img src=\"https://static.tigerbbs.com/64a04147bce69bc63c37360a86e5a019\" tg-width=\"1274\" tg-height=\"656\" referrerpolicy=\"no-referrer\"></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>Li Xiang: The self-developed autonomous driving system can compete with Huawei and Tesla next year</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\">\nLi Xiang: The self-developed autonomous driving system can compete with Huawei and Tesla next year\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\">2021-04-20 19:10</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>April 20th,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Li Xiangzai<a href=\"https://laohu8.com/S/WB\">Weibo</a>He said that now and in the future, assisted driving and autonomous driving of all models of Li Auto are completely standard, including software, data services, map services, computing hardware, sensors, etc. There is neither a software activation fee nor a subscription fee. The cost is the same standard no matter what price car is. Our self-developed autonomous driving system (standard with 508Tops computing power and lidar) can fully compete with Huawei,<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Head-on contest.<img src=\"https://static.tigerbbs.com/64a04147bce69bc63c37360a86e5a019\" tg-width=\"1274\" tg-height=\"656\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/2c0ab7d3f5d89bb403311ca0a8e68f8e","relate_stocks":{"LI":"理想汽车"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184442046","content_text":"4月20日，理想汽车李想在微博表示，理想汽车现在和以后，所有车型的辅助驾驶和自动驾驶都是完全标配的，包含软件、数据服务、地图服务、算力硬件、传感器等，既不收软件激活的费用，也不收订阅的费用，无论什么价位的车都一样标配。我们自研的自动驾驶系统（标配508Tops算力和激光雷达）明年完全可以和华为、特斯拉正面较量。","news_type":1,"symbols_score_info":{"LI":0.9}},"isVote":1,"tweetType":1,"viewCount":2029,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":373139540,"gmtCreate":1618829314380,"gmtModify":1704715462441,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"6666666","listText":"6666666","text":"6666666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/373139540","repostId":"1159886435","repostType":4,"repost":{"id":"1159886435","kind":"news","pubTimestamp":1618824851,"share":"https://ttm.financial/m/news/1159886435?lang=en_US&edition=fundamental","pubTime":"2021-04-19 17:34","market":"us","language":"zh","title":"Nio CEO Li Bin: Optimistic about electric vehicle sales this year","url":"https://stock-news.laohu8.com/highlight/detail?id=1159886435","media":"新浪财经","summary":"蔚来汽车CEO李斌表示，3月份是中国智能电动汽车市场的里程碑，电动汽车首次占到新车销量的10%以上；购买电动汽车的个人用户越来越多，这是一个很好的开始。李斌表示对今年的市场非常乐观，包括下半年。\n此外","content":"<p><a href=\"https://laohu8.com/S/NIO\">Nio</a>Automobile CEO Li Bin said that March was a milestone in China's smart electric vehicle market, with electric vehicles accounting for more than 10% of new car sales for the first time; The growing number of individual users buying electric vehicles is a great place to start. Li Bin said that he is very optimistic about the market this year, including the second half of the year.</p><p>In addition, Li Bin also mentioned that established car brands are also launching competitive products, but in general, they are latecomers in the field of smart electric vehicles, and there is still a lot of work to be done. Xiaomi, Huawei and<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Technology companies are also entering the market. This market needs to be viewed holistically and competition is welcomed because it can promote innovation. Many new companies are entering the market, but this is a very long-term market.</p><p>At the on-site meeting of the 2021 Shanghai Auto Show, Nio Automobile Li Bin also told the media that the manufacturing and testing work of the ET7 is in full swing. Up to now, Nio has deployed a total of 203 battery swap stations, 144 supercharging stations, nearly 1,100 supercharging piles, more than 1,800 destination charging piles, and more than 380,000 third-party fast charging piles have been connected across the country.</p>","source":"XLCJ","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>Nio CEO Li Bin: Optimistic about electric vehicle sales this year</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\">\nNio CEO Li Bin: Optimistic about electric vehicle sales this year\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\">2021-04-19 17:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p><a href=\"https://laohu8.com/S/NIO\">Nio</a>Automobile CEO Li Bin said that March was a milestone in China's smart electric vehicle market, with electric vehicles accounting for more than 10% of new car sales for the first time; The growing number of individual users buying electric vehicles is a great place to start. Li Bin said that he is very optimistic about the market this year, including the second half of the year.</p><p>In addition, Li Bin also mentioned that established car brands are also launching competitive products, but in general, they are latecomers in the field of smart electric vehicles, and there is still a lot of work to be done. Xiaomi, Huawei and<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Technology companies are also entering the market. This market needs to be viewed holistically and competition is welcomed because it can promote innovation. Many new companies are entering the market, but this is a very long-term market.</p><p>At the on-site meeting of the 2021 Shanghai Auto Show, Nio Automobile Li Bin also told the media that the manufacturing and testing work of the ET7 is in full swing. Up to now, Nio has deployed a total of 203 battery swap stations, 144 supercharging stations, nearly 1,100 supercharging piles, more than 1,800 destination charging piles, and more than 380,000 third-party fast charging piles have been connected across the country.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.sina.com.cn/7x24/2021-04-19/doc-ikmxzfmk7701918.shtml\">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/feebf0ff4401232c3ecc332f566f18e0","relate_stocks":{"NIO":"蔚来"},"source_url":"https://finance.sina.com.cn/7x24/2021-04-19/doc-ikmxzfmk7701918.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159886435","content_text":"蔚来汽车CEO李斌表示，3月份是中国智能电动汽车市场的里程碑，电动汽车首次占到新车销量的10%以上；购买电动汽车的个人用户越来越多，这是一个很好的开始。李斌表示对今年的市场非常乐观，包括下半年。\n此外，李斌还提到，老牌汽车品牌也在推出有竞争力的产品，但总的来说，他们是智能电动汽车领域的后来者，还有很多工作要做。小米、华为和百度等科技公司也在进入市场。需要全面看待这个市场，欢迎竞争，因为这可以促进创新。许多新公司正在进入市场，但这是一个非常长期的市场。\n在2021上海车展现场会上，蔚来汽车李斌还向媒体表示，ET7的生产制造及测试工作正紧锣密鼓的展开。截至目前，蔚来已在全国累计部署203座换电站，144座超充站，近1100根超充桩，超过1800根目的地充电桩，并且接入了超过38万根第三方快充桩。","news_type":1,"symbols_score_info":{"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":1858,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":373139183,"gmtCreate":1618829297842,"gmtModify":1704715461471,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"666666","listText":"666666","text":"666666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/373139183","repostId":"2128867739","repostType":4,"repost":{"id":"2128867739","kind":"news","pubTimestamp":1618825029,"share":"https://ttm.financial/m/news/2128867739?lang=en_US&edition=fundamental","pubTime":"2021-04-19 17:37","market":"us","language":"zh","title":"What is Nio's intention to join hands with Sinopec?","url":"https://stock-news.laohu8.com/highlight/detail?id=2128867739","media":"Donews","summary":"4月15日，造车新势力代表品牌蔚来汽车官方宣布，旗下第二代换电站在北京中石化朝英站正式落成。据介绍，这是蔚来汽车与中国石化合作建设的首座换电站。\n蔚来方面介绍，蔚来第二代换电站是全球首个量产实现车辆自","content":"<p>On April 15, representative brands of new car-making forces<a href=\"https://laohu8.com/S/NIO\">Nio</a>Automobile officially announced that its second-generation battery swap station is in Beijing<a href=\"https://laohu8.com/S/SNP\">Sinopec</a>Chaoying Station was officially completed. According to reports, this is Nio Automobile and<a href=\"https://laohu8.com/S/600028\">Sinopec</a>The first battery swap station jointly constructed.</p><p>According to Nio, Nio's second-generation battery swap station is the world's first mass-produced battery swap station to realize automatic parking of vehicles. It is a software-defined device-cloud combination<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Battery swap system. A total of 239 sensors and 4 cloud systems are deployed throughout the second-generation battery swap station to work together to comprehensively deepen the application of visual recognition technology.</p><p>Nio's second-generation battery swap station adopts visual fusion positioning technology, uses leading deep learning AI algorithms, combined with trajectory planning control algorithms, and motor torque control technology individually adapted to the ramp of the battery swap station to realize AVP automatic parking and entry. Nio car owners can use this battery swap station to realize functions such as AVP automatic parking and entry, one-click self-service battery swap in the car, and automatic adjustment of vehicle posture.</p><p>The battery swap station adopts the SAP flexible battery swap platform. After automatically identifying the wheelbase of the vehicle model, it adjusts the position of the wheel's Y-direction positioning V-groove, and is compatible with battery swapping of vehicles with different wheelbases. The unlocking electric platform combined with VI technology for precise positioning can achieve visual judgment in 1 second, correction and alignment in 10 seconds, and unlocking in 20 seconds. Fully automatic control can quickly complete battery unlocking.</p><p>It is reported that the battery compartment of Nio's second-generation battery swap station can accommodate 13 batteries, and the daily service capacity of a single station can reach 312 times. It also adopts a constant temperature 22-degree water cooling system in the whole warehouse to ensure that the charging speed and safety of the batteries in the station are not affected by temperature. Reasonably utilize the space at the bottom next to the battery swap platform, increase the recycled battery cache compartment, and double the transmission time.</p><p>For a long time, there have been many disputes about the battery swap mode of electric vehicles. In the early stage of popularization of electric vehicles, there were frequent accidents after battery replacement.<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>It only made a short-term attempt, and only Nio insisted on battery replacement.</p><p>Now, Nio and Sinopec have joined forces to exchange electricity. What does it intend to do? What does this model of combining oil and electricity mean?</p><p>Range anxiety of electric vehicles</p><p>The problem of mileage anxiety is very obvious in the early stages of electric vehicle development. Especially when the temperature is low, it is easy for electric vehicles to suddenly run out of power. Electric vehicles parked halfway through the road often become a street scene.</p><p>On the one hand, the range anxiety of electric vehicles comes from the endurance of electric vehicles themselves. The other aspect comes from charging time. In the early days, the battery life of electric vehicles was often 300 kilometers in the official test, but it actually ran more than 200 kilometers. When the weather was cold, it was discounted. In the end, I was afraid to go to the suburbs, not to mention running long distances.</p><p>Later, with the advancement of battery technology and motor technology, especially the extensive application of high-energy batteries, the battery life of electric vehicles is now generally very long, with 500 kilometers and 600 kilometers already very common. Although the danger of the battery has been compromised, the battery life is no longer a big problem.</p><p>In contrast, the problem of fast charging has not improved so much. It is not that charging cannot be done so fast, but that super fast charging requires too high power infrastructure.</p><p>Tesla's super fast charging requires 250KW. If a few of these charging piles are placed in the community, the capacity of the community will be full. Difficult to popularize.</p><p>Moreover, even if it is called super fast charging, this super fast charging is still slow compared to the refueling speed. Compared with slow charging overnight, fast charging takes 30 minutes and 1 hour is already super fast.</p><p>However, it only takes a few minutes to refuel. When it comes to long-distance travel, after running hundreds of kilometers on the highway, even if there is a super fast charging station and no other cars occupy the charging position, you still have to wait for an hour.</p><p>This has caused electric vehicles to run long distances with tenterhooks, poor planning, and trouble if the distance is too far. This kind of range anxiety is difficult to alleviate, and only by replacing batteries can it compete with refueling.</p><p>Only when battery replacement is popularized can the problem of mileage anxiety be solved.</p><p>Nio's Abacus</p><p>Tesla's success lies in the fact that Tesla sells charging and cars together, which solves the problem of user charging. Tesla's own battery life and parking space charging can meet daily car needs.</p><p>However, when it comes to long distances, Tesla still has some problems.</p><p>To charge on long-distance roads, you must first find a place to install charging piles on the highway, then connect electricity, and slowly distribute them along the highway. This difficulty is very great for a car company.</p><p>However, due to the demand for fuel vehicles, there are gas stations all the way on the highway. Gas stations are available every once in a while. Gas stations also have plenty of space for vehicles to enter and exit.</p><p>Nio used the site of Sinopec gas station through cooperation. This abacus is too precise.</p><p>Unlike charging stations, Nio's battery swap mode only takes a few minutes to replace the battery, and the replaced battery can be charged slowly</p><p>In this way, there is no problem of queuing up for charging.</p><p>Electric vehicle battery swapping is a very dangerous job, but Nio was designed to swap batteries from the beginning, and implemented automatic battery swapping in the second-generation battery swapping station, so that there is no need to arrange many technicians.</p><p>Nio's second-generation battery swap station is equivalent to a battery swap vending machine, but it only uses Sinopec's site. This system is unique to the brand. It constitutes a very large competitive advantage for Nio's electric vehicles.</p><p>Except for gasoline-electric hybrid models, other pure electric models cannot compete with Nio. This is a big benefit to Nio's car sales.</p><p>There are certain hidden concerns about security</p><p>At present, Nio still uses ternary batteries. Although ternary battery packs are well protected, there are still some dangers.</p><p>Moreover, in the battery swap mode, Nio does not know whether the replaced battery pack has any problems such as collisions during driving.</p><p>The earliest fire problem in Tesla was because a hard object on the ground touched the battery pack, causing a short circuit.</p><p>In addition, during the charging and discharging process, it is also the time when the battery pack is prone to thermal runaway.</p><p>All domestic electric vehicles have had problems.</p><p>Nio's second-generation battery swap station has 13 battery packs together. If one of these battery packs goes wrong, it can easily trigger a chain reaction. The energy of the battery pack is huge, and because the thermal decomposition and combustion of ternary materials can be self-sustaining and do not require external oxygen, once a fire breaks out, it will be very violent and difficult to put out the fire.</p><p>Therefore, the electric vehicle fire accidents we saw and the burned wreckage were very ugly. There's nothing left after it's burned.</p><p>The gas station is precisely a place where fireworks are strictly prohibited. If there is a problem with the battery in the electric vehicle or charging station, causing a gas station fire, the consequences will be devastating.</p><p>Therefore, this cooperation has certain potential safety hazards, and it is necessary to isolate and protect the second-generation batteries with sufficient safety.</p><p>Gas stations should also carry out risk protection for battery swap stations. It is necessary to ensure that in the extreme case of all 13 batteries burning and exploding, gas stations have enough space and protection to isolate battery swap stations.</p>","source":"dns","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>What is Nio's intention to join hands with Sinopec?</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\">\nWhat is Nio's intention to join hands with Sinopec?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Donews</strong><span class=\"h-time small\">2021-04-19 17:37</span>\n</p>\n</h4>\n</header>\n<article>\n<p>On April 15, representative brands of new car-making forces<a href=\"https://laohu8.com/S/NIO\">Nio</a>Automobile officially announced that its second-generation battery swap station is in Beijing<a href=\"https://laohu8.com/S/SNP\">Sinopec</a>Chaoying Station was officially completed. According to reports, this is Nio Automobile and<a href=\"https://laohu8.com/S/600028\">Sinopec</a>The first battery swap station jointly constructed.</p><p>According to Nio, Nio's second-generation battery swap station is the world's first mass-produced battery swap station to realize automatic parking of vehicles. It is a software-defined device-cloud combination<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Battery swap system. A total of 239 sensors and 4 cloud systems are deployed throughout the second-generation battery swap station to work together to comprehensively deepen the application of visual recognition technology.</p><p>Nio's second-generation battery swap station adopts visual fusion positioning technology, uses leading deep learning AI algorithms, combined with trajectory planning control algorithms, and motor torque control technology individually adapted to the ramp of the battery swap station to realize AVP automatic parking and entry. Nio car owners can use this battery swap station to realize functions such as AVP automatic parking and entry, one-click self-service battery swap in the car, and automatic adjustment of vehicle posture.</p><p>The battery swap station adopts the SAP flexible battery swap platform. After automatically identifying the wheelbase of the vehicle model, it adjusts the position of the wheel's Y-direction positioning V-groove, and is compatible with battery swapping of vehicles with different wheelbases. The unlocking electric platform combined with VI technology for precise positioning can achieve visual judgment in 1 second, correction and alignment in 10 seconds, and unlocking in 20 seconds. Fully automatic control can quickly complete battery unlocking.</p><p>It is reported that the battery compartment of Nio's second-generation battery swap station can accommodate 13 batteries, and the daily service capacity of a single station can reach 312 times. It also adopts a constant temperature 22-degree water cooling system in the whole warehouse to ensure that the charging speed and safety of the batteries in the station are not affected by temperature. Reasonably utilize the space at the bottom next to the battery swap platform, increase the recycled battery cache compartment, and double the transmission time.</p><p>For a long time, there have been many disputes about the battery swap mode of electric vehicles. In the early stage of popularization of electric vehicles, there were frequent accidents after battery replacement.<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>It only made a short-term attempt, and only Nio insisted on battery replacement.</p><p>Now, Nio and Sinopec have joined forces to exchange electricity. What does it intend to do? What does this model of combining oil and electricity mean?</p><p>Range anxiety of electric vehicles</p><p>The problem of mileage anxiety is very obvious in the early stages of electric vehicle development. Especially when the temperature is low, it is easy for electric vehicles to suddenly run out of power. Electric vehicles parked halfway through the road often become a street scene.</p><p>On the one hand, the range anxiety of electric vehicles comes from the endurance of electric vehicles themselves. The other aspect comes from charging time. In the early days, the battery life of electric vehicles was often 300 kilometers in the official test, but it actually ran more than 200 kilometers. When the weather was cold, it was discounted. In the end, I was afraid to go to the suburbs, not to mention running long distances.</p><p>Later, with the advancement of battery technology and motor technology, especially the extensive application of high-energy batteries, the battery life of electric vehicles is now generally very long, with 500 kilometers and 600 kilometers already very common. Although the danger of the battery has been compromised, the battery life is no longer a big problem.</p><p>In contrast, the problem of fast charging has not improved so much. It is not that charging cannot be done so fast, but that super fast charging requires too high power infrastructure.</p><p>Tesla's super fast charging requires 250KW. If a few of these charging piles are placed in the community, the capacity of the community will be full. Difficult to popularize.</p><p>Moreover, even if it is called super fast charging, this super fast charging is still slow compared to the refueling speed. Compared with slow charging overnight, fast charging takes 30 minutes and 1 hour is already super fast.</p><p>However, it only takes a few minutes to refuel. When it comes to long-distance travel, after running hundreds of kilometers on the highway, even if there is a super fast charging station and no other cars occupy the charging position, you still have to wait for an hour.</p><p>This has caused electric vehicles to run long distances with tenterhooks, poor planning, and trouble if the distance is too far. This kind of range anxiety is difficult to alleviate, and only by replacing batteries can it compete with refueling.</p><p>Only when battery replacement is popularized can the problem of mileage anxiety be solved.</p><p>Nio's Abacus</p><p>Tesla's success lies in the fact that Tesla sells charging and cars together, which solves the problem of user charging. Tesla's own battery life and parking space charging can meet daily car needs.</p><p>However, when it comes to long distances, Tesla still has some problems.</p><p>To charge on long-distance roads, you must first find a place to install charging piles on the highway, then connect electricity, and slowly distribute them along the highway. This difficulty is very great for a car company.</p><p>However, due to the demand for fuel vehicles, there are gas stations all the way on the highway. Gas stations are available every once in a while. Gas stations also have plenty of space for vehicles to enter and exit.</p><p>Nio used the site of Sinopec gas station through cooperation. This abacus is too precise.</p><p>Unlike charging stations, Nio's battery swap mode only takes a few minutes to replace the battery, and the replaced battery can be charged slowly</p><p>In this way, there is no problem of queuing up for charging.</p><p>Electric vehicle battery swapping is a very dangerous job, but Nio was designed to swap batteries from the beginning, and implemented automatic battery swapping in the second-generation battery swapping station, so that there is no need to arrange many technicians.</p><p>Nio's second-generation battery swap station is equivalent to a battery swap vending machine, but it only uses Sinopec's site. This system is unique to the brand. It constitutes a very large competitive advantage for Nio's electric vehicles.</p><p>Except for gasoline-electric hybrid models, other pure electric models cannot compete with Nio. This is a big benefit to Nio's car sales.</p><p>There are certain hidden concerns about security</p><p>At present, Nio still uses ternary batteries. Although ternary battery packs are well protected, there are still some dangers.</p><p>Moreover, in the battery swap mode, Nio does not know whether the replaced battery pack has any problems such as collisions during driving.</p><p>The earliest fire problem in Tesla was because a hard object on the ground touched the battery pack, causing a short circuit.</p><p>In addition, during the charging and discharging process, it is also the time when the battery pack is prone to thermal runaway.</p><p>All domestic electric vehicles have had problems.</p><p>Nio's second-generation battery swap station has 13 battery packs together. If one of these battery packs goes wrong, it can easily trigger a chain reaction. The energy of the battery pack is huge, and because the thermal decomposition and combustion of ternary materials can be self-sustaining and do not require external oxygen, once a fire breaks out, it will be very violent and difficult to put out the fire.</p><p>Therefore, the electric vehicle fire accidents we saw and the burned wreckage were very ugly. There's nothing left after it's burned.</p><p>The gas station is precisely a place where fireworks are strictly prohibited. If there is a problem with the battery in the electric vehicle or charging station, causing a gas station fire, the consequences will be devastating.</p><p>Therefore, this cooperation has certain potential safety hazards, and it is necessary to isolate and protect the second-generation batteries with sufficient safety.</p><p>Gas stations should also carry out risk protection for battery swap stations. It is necessary to ensure that in the extreme case of all 13 batteries burning and exploding, gas stations have enough space and protection to isolate battery swap stations.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.chinaventure.com.cn/news/78-20210419-361673.html\">Donews</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a3b92523152bd36c422721756606e549","relate_stocks":{"NIO":"蔚来"},"source_url":"https://www.chinaventure.com.cn/news/78-20210419-361673.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2128867739","content_text":"4月15日，造车新势力代表品牌蔚来汽车官方宣布，旗下第二代换电站在北京中石化朝英站正式落成。据介绍，这是蔚来汽车与中国石化合作建设的首座换电站。\n蔚来方面介绍，蔚来第二代换电站是全球首个量产实现车辆自动泊入的换电站，是由软件定义的端云结合的智能换电系统。第二代换电站全站共布置239个传感器、4大云端系统协同作业，全面深化视觉识别技术应用。\n蔚来第二代换电站采用视觉融合定位技术，运用领先的深度学习AI算法，结合轨迹规划控制算法，针对换电站坡道单独适配的电机扭矩控制技术，实现AVP自动泊车入站。蔚来车主可通过这座换电站实现AVP自动泊车入站、车内一键自助换电、自动调整车辆姿态等功能。\n该换电站采用SAP柔性换电平台，自动识别车型轴距后，调节车轮Y向定位V型槽位置，且兼容不同轴距车型换电。加解锁电平台结合VI技术精准定位，做到1秒视觉判断、10秒校正对准、20秒解锁，全自动控制快速完成电池解锁。\n据悉，蔚来第二代换电站电池仓内可容纳13块电池，单站日服务能力可达312次，并采用全仓恒温22度水冷系统，确保站内电池充电速度和安全不受气温影响。合理利用换电平台旁驻足底部空间，增加回收电池缓存仓，成倍缩短传送时间。\n长期以来，对于电动车的换电模式，各方争议都比较多。早期电动车普及阶段，有过换电后事故频频的情况。特斯拉也仅仅做了短期尝试，只有蔚来坚持做换电。\n如今，蔚来与中石化联手换电，它意欲何为呢?这种油电联手的模式意味着什么呢?\n电动车的里程焦虑\n里程焦虑问题，在电动车发展初期非常明显。尤其在温度较低的时候，电动车很容易突然没电。停在半路的电动车往往会成为街头一景。\n电动车的里程焦虑，一方面来自于电动车自身的续航能力。另外一方面来自于充电时间。电动车早期的续航往往是官方测试300公里，实际跑起来200多公里，天冷再打折扣，最后去趟郊区都提心吊胆，不用说跑长途了。\n后来随着电池技术、电机技术的进步，尤其是高能量电池的大量应用，现在电动车的续航普遍都很长了，500公里，600公里的已经很常见了。虽然电池的危险性有所妥协，但是续航已经不是太大问题。\n相比之下，快充问题进步没有那么大，并不是充电做不了那么快，而是要做超级快充对电力基础设施要求太高。\n特斯拉的超级快充要250KW，这种充电桩放到小区里面，安装几个，小区的容量就满了。难以普及。\n而且，即使叫超级快充，这个超级快相比加油速度也是龟速。相比慢充充一夜，快充30分钟，1个小时已经超级快了。\n但是，加油只要几分钟。到了长途旅行的时候，跑高速几百公里后，即使有超级快充站，没有其他车占用充电位置，也要等一个小时。\n这造成了电动车跑长途提心吊胆，规划不周，距离过远都要出麻烦。这种里程焦虑很难缓解，只有换电才可能和加油拼速度。\n也只有换电普及，才可能解决里程焦虑问题。\n蔚来的算盘\n特斯拉的成功，在于特斯拉是充电和车一起卖，解决了用户充电的问题。特斯拉本身的续航加上车位充电，是可以满足日常用车需求的。\n但是，真正到了长途，特斯拉还是有点问题。\n长途路上充电，首先你要在高速路上找到安装充电桩的地方，然后要配上电，还要沿着高速路慢慢布点，这个难度对于一家车企来说是很大的。\n但是，因为燃油车的需求，在高速路上一路都有加油站。加油站是每隔一段就有的。加油站为了车辆进出也有足够多的空间。\n蔚来通过合作用上中石化加油站的场地。这个算盘打的太精了。\n与充电站不同，蔚来的换电模式只要几分钟就可以换好电池，换好的电池可以慢慢充\n这样就没有排队充电的问题。\n电动车换电是一个危险性很高的工作，但是蔚来一开始就是换电设计，在二代换电站中又实现了自动换电，这样就不用安排很多技术人员。\n蔚来的二代换电站，相当于一个换电的自动售货机，只是利用中石化的场地。这个系统是品牌独有的。对蔚来的电动车构成非常大的竞争优势。\n除了油电混合车型，其他纯电车型无法与蔚来竞争。这对蔚来的汽车销售有很大好处。\n安全性存在一定隐忧\n目前，蔚来用的还是三元电池，三元电池包虽然做了很稳妥的保护，但是危险性还是有的。\n而且换电模式下，蔚来并不知道换下来的电池包，在行驶过程中有没有碰撞等问题。\n特斯拉最早出现起火问题，就是因为地面硬物触碰了电池包，造成短路。\n另外，在充放电过程中，也是电池包容易出现热失控的时候。\n这个国内的电动车都出过问题。\n蔚来的二代换电站是13个电池包在一起，这些电池包如果有一个出问题，很容易引发连锁反应。电池包的能量是巨大的，而且由于三元材料热分解燃烧可以自持，并不需要外界的氧气，一旦起火就会非常猛烈，难以救火。\n所以，我们看到的电动车起火事故，燃烧过后的残骸都非常难看。烧完了以后剩不下什么。\n而加油站，恰恰是一个严禁烟火的地方，如果电动车或者充电站里面的电池出问题，引发了加油站火灾，后果是毁灭性的。\n所以，这个合作存在一定的安全隐患，需要对二代换电的电池做足够安全的隔离和保护。\n加油站，也应该对换电站进行风险防护，要保障13块电池全部燃烧爆炸的极端情况下，加油站有足够多的空间和防护，隔离换电站。","news_type":1,"symbols_score_info":{"NIO":0.9,"SNP":0.9}},"isVote":1,"tweetType":1,"viewCount":1723,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":373130586,"gmtCreate":1618829283945,"gmtModify":1704715460663,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"6666","listText":"6666","text":"6666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/373130586","repostId":"1151263601","repostType":4,"repost":{"id":"1151263601","kind":"news","pubTimestamp":1618825416,"share":"https://ttm.financial/m/news/1151263601?lang=en_US&edition=fundamental","pubTime":"2021-04-19 17:43","market":"us","language":"zh","title":"Wall Street's loan-to-deposit ratios repeat the post-Lehman crisis period, what happens next","url":"https://stock-news.laohu8.com/highlight/detail?id=1151263601","media":"人民币交易与研究","summary":"美国各银行贷款明显萎缩，存款大幅增加。","content":"<p>Recently, the first-quarter financial reports released by American banks have shown a worrying sign, that is, the loans of American banks have shrunk significantly and the deposits have increased significantly. According to statistics, since the global financial crisis, bank loans have not grown, while total deposits have doubled.<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>In this regard, it was warned that whether the long-term weakness in bank lending after Lehman's bankruptcy will be repeated in the current post-virus cycle will be a key factor in determining long-term inflation and liquidity conditions. So far, the trajectory of bank lending has more similarities than differences with the post-Lehman crisis period.</p><p>JPMorgan Chase strategist Nick Panigirtzoglou recently elaborated on \"the challenges posed by weak bank lending\" in his latest \"Cash Flow and Liquidity\" report. He wrote, \"A common feature of this week's earnings reports of U.S. banks is weak loan growth. In fact, the weekly data released by the Federal Reserve in the first half of the year shows that the rate of lending by U.S. banks is still negative, which has been weak since last summer.\"</p><p>The first-quarter financial reports released by American banks last week showed a worrying sign, that is, the loans of American banks shrank significantly and the deposits increased significantly. JPMorgan Chase's latest earnings report showed that its total deposits rose 24% year-on-year in the first quarter and 6% from the fourth quarter of last year to $2.278 trillion, while the total loans issued by the bank were basically the same as the previous quarter. It was $1.011 trillion, down 4% from the same period last year.</p><p>In other words, for the first time in JPMorgan's history, deposits exceeded loans by 100%, and the loan-to-deposit ratio fell below 50% in a row in the third quarter after falling sharply after the pandemic in novel coronavirus pneumonia.</p><p><a href=\"https://laohu8.com/S/BAC\">Bank of America</a>An even more alarming divergence has emerged between total deposits and loans, with the bank's loans continuing to shrink at an alarming rate and now reaching $911 billion, below levels seen during the Great Financial Crisis, while deposits hit a record high of $1.88 trillion. In other words, Bank of America has had zero lending growth for 12 years!</p><p>Citibank and<a href=\"https://laohu8.com/S/WFC\">Wells Fargo</a>Not much better.</p><p>According to the financial reports of various banks, ZEROHEDGE, a financial blog, obtained the exploded diagram of the total loans and total deposits of the above four major banks:</p><p><img src=\"https://static.tigerbbs.com/063f2915452b694fb817f299dcf99225\" tg-width=\"1080\" tg-height=\"590\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/91eb994e5258aaee060b113a0f17a628\" tg-width=\"1080\" tg-height=\"592\" referrerpolicy=\"no-referrer\"></p><p>The results show that bank lending has not grown since the global financial crisis, while total deposits have doubled!</p><p>This ongoing weakness comes after the onset of the virus crisis, following a brief surge in bank lending in the second quarter of 2020, which is reminiscent of the trajectory of U.S. bank lending after the Lehman crisis, Panigirtzoglou writes. After the Lehman crisis broke out, driven by enterprises and consumers' use of bank credit lines, the lending speed of American banks soared briefly, but until mid-2011, the lending speed of American banks basically remained negative. Although it entered the positive territory after 2011, the lending speed of American banks has been far lower than the level before the Lehman crisis, which is an important feature of the theory of long-term stagnation.</p><p>While the future trajectory of bank lending is critical to determining long-term inflation and liquidity conditions, it remains to be seen whether the prolonged bank lending weakness after the Lehman crisis will repeat itself in the current post-virus cycle, JPMorgan admits.</p><p>The bank pointed out that the resurgence of the long-term weakness in bank lending in the post-Lehman era will cast doubt on the view that inflation will continue to rise in the next few years. It will also drag down future money supply and liquidity creation, i.e. a key driver of asset price increases is suppressed.</p><p>Looking ahead, the Fed will reduce its bond purchases in 2022 or at any time. That could lead to a further slowdown in money creation over the next few years unless bank lending improves, avoiding a prolonged post-Lehman weakness, according to JPMorgan.</p><p>Whether the prolonged weakness in bank lending following Lehman's failure will repeat itself in the current post-virus cycle will be a key factor in determining long-term inflation and liquidity conditions, JPMorgan warned. So far, the trajectory of bank lending has more similarities than differences with the post-Lehman crisis period.</p>","source":"lsy1574157197600","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>Wall Street's loan-to-deposit ratios repeat the post-Lehman crisis period, what happens next</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\">\nWall Street's loan-to-deposit ratios repeat the post-Lehman crisis period, what happens next\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">人民币交易与研究</strong><span class=\"h-time small\">2021-04-19 17:43</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Recently, the first-quarter financial reports released by American banks have shown a worrying sign, that is, the loans of American banks have shrunk significantly and the deposits have increased significantly. According to statistics, since the global financial crisis, bank loans have not grown, while total deposits have doubled.<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>In this regard, it was warned that whether the long-term weakness in bank lending after Lehman's bankruptcy will be repeated in the current post-virus cycle will be a key factor in determining long-term inflation and liquidity conditions. So far, the trajectory of bank lending has more similarities than differences with the post-Lehman crisis period.</p><p>JPMorgan Chase strategist Nick Panigirtzoglou recently elaborated on \"the challenges posed by weak bank lending\" in his latest \"Cash Flow and Liquidity\" report. He wrote, \"A common feature of this week's earnings reports of U.S. banks is weak loan growth. In fact, the weekly data released by the Federal Reserve in the first half of the year shows that the rate of lending by U.S. banks is still negative, which has been weak since last summer.\"</p><p>The first-quarter financial reports released by American banks last week showed a worrying sign, that is, the loans of American banks shrank significantly and the deposits increased significantly. JPMorgan Chase's latest earnings report showed that its total deposits rose 24% year-on-year in the first quarter and 6% from the fourth quarter of last year to $2.278 trillion, while the total loans issued by the bank were basically the same as the previous quarter. It was $1.011 trillion, down 4% from the same period last year.</p><p>In other words, for the first time in JPMorgan's history, deposits exceeded loans by 100%, and the loan-to-deposit ratio fell below 50% in a row in the third quarter after falling sharply after the pandemic in novel coronavirus pneumonia.</p><p><a href=\"https://laohu8.com/S/BAC\">Bank of America</a>An even more alarming divergence has emerged between total deposits and loans, with the bank's loans continuing to shrink at an alarming rate and now reaching $911 billion, below levels seen during the Great Financial Crisis, while deposits hit a record high of $1.88 trillion. In other words, Bank of America has had zero lending growth for 12 years!</p><p>Citibank and<a href=\"https://laohu8.com/S/WFC\">Wells Fargo</a>Not much better.</p><p>According to the financial reports of various banks, ZEROHEDGE, a financial blog, obtained the exploded diagram of the total loans and total deposits of the above four major banks:</p><p><img src=\"https://static.tigerbbs.com/063f2915452b694fb817f299dcf99225\" tg-width=\"1080\" tg-height=\"590\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/91eb994e5258aaee060b113a0f17a628\" tg-width=\"1080\" tg-height=\"592\" referrerpolicy=\"no-referrer\"></p><p>The results show that bank lending has not grown since the global financial crisis, while total deposits have doubled!</p><p>This ongoing weakness comes after the onset of the virus crisis, following a brief surge in bank lending in the second quarter of 2020, which is reminiscent of the trajectory of U.S. bank lending after the Lehman crisis, Panigirtzoglou writes. After the Lehman crisis broke out, driven by enterprises and consumers' use of bank credit lines, the lending speed of American banks soared briefly, but until mid-2011, the lending speed of American banks basically remained negative. Although it entered the positive territory after 2011, the lending speed of American banks has been far lower than the level before the Lehman crisis, which is an important feature of the theory of long-term stagnation.</p><p>While the future trajectory of bank lending is critical to determining long-term inflation and liquidity conditions, it remains to be seen whether the prolonged bank lending weakness after the Lehman crisis will repeat itself in the current post-virus cycle, JPMorgan admits.</p><p>The bank pointed out that the resurgence of the long-term weakness in bank lending in the post-Lehman era will cast doubt on the view that inflation will continue to rise in the next few years. It will also drag down future money supply and liquidity creation, i.e. a key driver of asset price increases is suppressed.</p><p>Looking ahead, the Fed will reduce its bond purchases in 2022 or at any time. That could lead to a further slowdown in money creation over the next few years unless bank lending improves, avoiding a prolonged post-Lehman weakness, according to JPMorgan.</p><p>Whether the prolonged weakness in bank lending following Lehman's failure will repeat itself in the current post-virus cycle will be a key factor in determining long-term inflation and liquidity conditions, JPMorgan warned. So far, the trajectory of bank lending has more similarities than differences with the post-Lehman crisis period.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.sina.com.cn/stock/usstock/c/2021-04-19/doc-ikmyaawc0577288.shtml\">人民币交易与研究</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/cb5398fed733ffbbc94ab1b9a49946a8","relate_stocks":{"C":"花旗","JPM":"摩根大通","BAC":"美国银行","WFC":"富国银行"},"source_url":"https://finance.sina.com.cn/stock/usstock/c/2021-04-19/doc-ikmyaawc0577288.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151263601","content_text":"近日，美国各银行陆续公布的一季度财报显示出一大令人担忧的迹象，即美国各银行贷款明显萎缩，存款大幅增加。据统计，自全球金融危机以来，银行贷款没有增长，而存款总额却翻了一番。摩根大通对此警告称，雷曼破产后银行放贷的长期疲弱状况是否会在当前病毒爆发后的周期中重演，将是决定长期通胀和流动性状况的关键因素。到目前为止，银行放贷的轨迹与后雷曼危机时期的相似之处多于差异。摩根大通策略师尼克·潘尼吉尔佐格罗（Nick Panigirtzoglou）近日在其最新的“现金流和流动性”报告中阐述了“银行贷款疲软带来的挑战”。他写道，“本周美国各银行收益报告的一个共同特征是贷款增长疲软。实际上，美联储上半年发布的每周数据就显示，美国各银行放贷的速度仍处于负数，自去年夏天以来一直持续疲软。”美国各银行上周陆续公布的一季度财报显示出一大令人担忧的迹象，即美国各银行贷款明显萎缩，存款大幅增加。摩根大通最新盈利报告显示，第一季度其存款总额同比上升了24%，较去年第四季度增长了6%，至2.278万亿美元， 而该银行发放的贷款总额与上一季度基本持平，为1.011万亿美元，比去年同期下降了4%。换句话说，在摩根大通历史上，存款首次超过贷款100%，贷存比在新冠肺炎疫情后大幅下降后，第三季度连续下降到50%以下。美国银行的总存款和贷款之间出现了更加惊人的分歧，该银行的贷款继续以惊人的速度萎缩，目前已达到9110亿美元，低于大金融危机期间的水平，而存款创下了历史新高，达到1.88万亿美元。换句话说，美国银行已经12年贷款零增长了！花旗银行和富国银行也好不到哪里去。金融博客ZEROHEDGE根据各银行财报，得到以上四大银行贷款总额和和总存款的分解图：结果显示，自全球金融危机以来，银行贷款没有增长，而存款总额却翻了一番！Panigirtzoglou写道，这种持续的疲软是在病毒危机爆发后，即2020年第二季度银行放贷短暂飙升之后出现的，这让人想起了雷曼危机后美国银行放贷的轨迹。雷曼危机爆发后，在企业和消费者利用银行信贷额度的推动下，美国各银行放贷速度一度短暂飙升，但直到2011年年中，美国各银行放贷速度基本保持在负增长。尽管在2011年之后进入了正区间，但美国各银行放贷速度一直远低于雷曼危机前的水平，这是长期停滞论的一个重要特征。摩根大通坦言，尽管银行贷款的未来轨迹对于决定长期通胀和流动性状况至关重要，雷曼危机后长期的银行贷款疲软是否会在当前的后病毒周期中重演还有待观察。该行指出，后雷曼时期银行放贷的长期疲软重现，将使人们对未来几年通胀持续上涨的观点产生怀疑。这还将拖累未来的货币供应和流动性创造，即资产价格上涨的一个关键驱动因素被压制。展望未来，美联储将在2022年或任何时候缩减购债规模。摩根大通表示，这可能会导致未来几年货币创造进一步放缓，除非银行放贷有所改善，避免出现后雷曼时期的长期疲软。摩根大通警告称，雷曼破产后银行放贷的长期疲弱状况是否会在当前病毒爆发后的周期中重演，将是决定长期通胀和流动性状况的关键因素。到目前为止，银行放贷的轨迹与后雷曼危机时期的相似之处多于差异。","news_type":1,"symbols_score_info":{"BAC":0.9,"C":0.9,"JPM":0.9,"WFC":0.9}},"isVote":1,"tweetType":1,"viewCount":882,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":373130978,"gmtCreate":1618829256794,"gmtModify":1704715460017,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"66666666","listText":"66666666","text":"66666666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/373130978","repostId":"2128600328","repostType":4,"repost":{"id":"2128600328","kind":"news","pubTimestamp":1618825861,"share":"https://ttm.financial/m/news/2128600328?lang=en_US&edition=fundamental","pubTime":"2021-04-19 17:51","market":"sh","language":"zh","title":"Car companies talk about chip shortages: It seems that the \"firefighting team\" frequently changes suppliers","url":"https://stock-news.laohu8.com/highlight/detail?id=2128600328","media":"第一财经","summary":"芯片短缺的问题令全球汽车行业的高管感到不安，一些汽车制造商不得不调整装配线，同时芯片供应链的中断也打击了中国汽车企业的生产。在上海车展期间，汽车企业领导者再次将努力解决半导体供应链的问题提上议程。\n德","content":"<p><div>The chip shortage has rattled executives in the global auto industry, with some automakers having to adjust assembly lines, while chip supply chain disruptions have also hit production by Chinese automakers. During the Shanghai Auto Show, automotive leaders once again put efforts to solve the problems of the semiconductor supply chain on the agenda. Dr. Stephan Woellenstein, CEO of Volkswagen China, told reporters on Sunday that the weekly or even monthly losses caused by the chip shortage have been incalculable to the company. \"We are like a fire brigade, and in some cases we have switched to another...</p><p><a href=\"https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/jjxw/2021-04-19/doc-ikmxzfmk7728884.shtml\">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>Car companies talk about chip shortages: It seems that the \"firefighting team\" frequently changes suppliers</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\">\nCar companies talk about chip shortages: It seems that the \"firefighting team\" frequently changes suppliers\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\">2021-04-19 17:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div>The chip shortage has rattled executives in the global auto industry, with some automakers having to adjust assembly lines, while chip supply chain disruptions have also hit production by Chinese automakers. During the Shanghai Auto Show, automotive leaders once again put efforts to solve the problems of the semiconductor supply chain on the agenda. Dr. Stephan Woellenstein, CEO of Volkswagen China, told reporters on Sunday that the weekly or even monthly losses caused by the chip shortage have been incalculable to the company. \"We are like a fire brigade, and in some cases we have switched to another...</p><p><a href=\"https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/jjxw/2021-04-19/doc-ikmxzfmk7728884.shtml\">Web link</a></div></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/jjxw/2021-04-19/doc-ikmxzfmk7728884.shtml\">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/f5e8aba7de194dc92d26747c1cfec057","relate_stocks":{"GM":"通用汽车","TSM":"台积电"},"source_url":"https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/jjxw/2021-04-19/doc-ikmxzfmk7728884.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2128600328","content_text":"芯片短缺的问题令全球汽车行业的高管感到不安，一些汽车制造商不得不调整装配线，同时芯片供应链的中断也打击了中国汽车企业的生产。在上海车展期间，汽车企业领导者再次将努力解决半导体供应链的问题提上议程。\n德国大众汽车中国区CEO冯思瀚（Stephan Woellenstein）博士周日对记者表示，因为芯片短缺给该公司造成每周甚至每月的损失已经难以估量。“我们就好像是救火队，在某些情况下，我们已改用另一种芯片，也就是说改变了供应商。”冯思瀚表示。\n\n中国汽车库存将持续下降\n大众汽车是中国最大的外国汽车制造商，该公司希望在中国的汽车年销售量达400万辆。去年，中国市场的汽车年销量超过2500万辆。中国对于包括大众汽车和通用汽车在内的汽车制造商来说是最重要的市场之一。\n大众汽车全球CEO赫伯特·迪斯（Herbert Diess）上周在汉诺威工业博览会上表示，关键半导体零部件的持续短缺是影响全球汽车行业从新冠危机中复苏的“唯一”因素。\n“美国，巴西和中国的需求正在回升，我们也在努力通过欧洲订单量的增涨来实现复苏目标。”迪斯表示，“目前唯一限制和减缓这种复苏的因素是全球各种半导体的供应情况。”此前，大众汽车已经表示，将直接与芯片厂商锁定芯片供应合同。\n中国汽车经销商协会表示，由于芯片短缺打击了整个汽车生产，预计中国的汽车库存将继续下降。该协会还表示，某些车型的供应可能无法满足需求。 中国汽车工业协会也表示，芯片供应短缺造成今年前两个月中国汽车产量减少了5％至8％，该协会预计从今年第三季度开始，芯片短缺的影响有望缓解。\n此前，包括日产汽车、福特汽车和中国的蔚来汽车等汽车制造商都公开表示，由于芯片供应短缺，他们削减了产量。麦肯锡的数据显示，2019年汽车行业约占全球4290亿美元规模半导体市场的十分之一，恩智浦半导体（NXP）、德国英飞凌和瑞萨电子是该行业的主要供应商。\n今年3月，瑞萨电子在日本的芯片工厂发生大火，这使得半导体的短缺状况进一步恶化。瑞萨电子周一表示，周六工厂已经重启生产，预计将于5月底前恢复受损工厂失去的产能。\n瑞萨电子在车用微控制器芯片方面占据了全球市场近三分之一的份额。瑞萨电子CEO柴田英利（Hidetoshi Shibata）在新闻发布会上称，计划4月底前恢复工厂一半的产能，产能全面恢复预计需要70天左右的时间。\n“日本火灾，美国得克萨斯的极寒气候等因素造成了芯片的短缺问题严重，我们每天都在面临为客户提供足够芯片的挑战。”自动驾驶供应商安波福亚太区总裁杨晓明在上海车展召开前对第一财经记者表示，“芯片给行业带来的已经不是短期的影响了，寻求长期应对的方法是肯定的。”\n杨晓明表示，目前需要对整个行业的商业模式进行重新思考。“我们也在思考如何应对突发事件对全球供应链的冲击，如何在发挥平台化优势的同时，还要考虑如何把目前单一的供应链的模式变得更加柔性。”杨晓明说道，“这并不是说一家供应商不行再换另外一家，而是要找到一种可持续的方案，但这仍然需要时间。”\n杨晓明对记者表示，安波福与合作伙伴每天都在研究芯片的紧张程度。“过去我们跟主要的芯片合作厂商的关系相对简单，但是现在我们开始研究供应链的本质，不单单是芯片设计厂商的瓶颈，也包括分包和晶圆厂的瓶颈。”他说道，“现在我们已经看到，供给汽车使用的晶圆是有瓶颈的，尤其是在需求急剧增加的情况下，晶圆厂的供应挑战很大。至于什么时候能够结束，现在还很难预测。”\n行业重审供应链本质\n芯片的制造从平板大小的硅片开始，电路被蚀刻到硅片中，通过一系列复杂的化学过程在硅片表面上堆积。每个晶圆上都有数百甚至数千个指甲大小的芯片，必须将它们切成单个芯片，然后放入包装中。\n芯片制造过程复杂，供应链尤其长，而且非常耗费人力。生产单个计算机芯片大约需要1000个步骤，经历70次边境的跨越，并且需要大量专业企业的合作，目前这些公司大多数都在亚洲，并且很多企业都是公众未知的。\n以包装步骤为例，一家韩国的生产汽车芯片包装组件公司需要将其产品出口到马来西亚或泰国，以供英飞凌或者NXP等客户使用。英飞凌和NXP等公司负责为德国的博世和大陆集团等汽车供应商提供组装和包装芯片，而博世和大陆集团再向汽车制造商提供最终产品。\n美国总统拜登上周召集半导体行业高管讨论芯片危机的解决方案。拜登政府提议投入500亿美元支持芯片制造和研究，作为2万亿美元基础设施提案的一部分。这些资金大部分将用于英特尔、三星和台积电等晶圆厂，用于建设数十亿美元的先进芯片制造工厂。\n根据行业数据，目前全球80％以上的芯片生产都在亚洲，美国仅占全球半导体产能的12％，低于90年代的37％。\n但行业高管表示，要完全重建芯片整个产业链代价高昂，因此解决更广泛的供应链至关重要。安森美半导体（On Semiconductor）高级副总裁戴维·索莫（David Somo）表示：“要在某个特定的地方从上游到下游重建整个供应链几乎是不可能的，这代价太高了。”\n过去长期以来，美国大量的资金都流向了先进以及高利润率的芯片设计领域，将芯片的包装和生产外包给亚洲企业。在芯片短缺问题日益突出的背景下，一些人士认为，美国不仅需要支持新的尖端晶圆厂，而且还需要支持较旧的技术。\n美国芯片包装公司Promex公司CEO迪克·奥特（Dick Otte）表示：“重建美国的汽车芯片包装业非常重要，如果能做到这一点美国芯片产业链重建才有未来，否则只是浪费时间。”\n去年10月，位于美国明尼苏达州的芯片铸造厂SkyWater Technology接管了佛罗里达州的一家工厂，计划建造先进的包装生产线。\n密歇根大学电气与计算机工程学教授托尼·列维（Tony Levi）表示，重建美国包装业不仅可以使芯片公司及其客户免受地缘因素的影响，还可以帮助他们缩短制造新的芯片所涉及的漫长周期。“美国芯片公司可以更频繁地创建较小规模的芯片制造流程，从而加快创新速度，并有可能创造出更大的生产能力。”列维教授表示。","news_type":1,"symbols_score_info":{"TSM":0.9,"GM":0.9}},"isVote":1,"tweetType":1,"viewCount":740,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":347136790,"gmtCreate":1618473844910,"gmtModify":1704711371003,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"66666","listText":"66666","text":"66666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/347136790","repostId":"2127003228","repostType":4,"repost":{"id":"2127003228","kind":"highlight","pubTimestamp":1618472046,"share":"https://ttm.financial/m/news/2127003228?lang=en_US&edition=fundamental","pubTime":"2021-04-15 15:34","market":"us","language":"zh","title":"TSMC's Q1 revenue and profit exceeded expectations, and gross profit margin approached the expected upper limit","url":"https://stock-news.laohu8.com/highlight/detail?id=2127003228","media":"华尔街见闻","summary":"4月15日，为苹果、AMD等众多厂商代工芯片的全球第一大的芯片代工商台积电发布了一季度的财报，营收达到了预期并创下新高，净利润接近50亿美元，同比增长明显。\n财报数据显示：\n\n 主营业务收入方面，台积","content":"<p>April 15, for<a href=\"https://laohu8.com/S/AAPL\">Apple</a>、<a href=\"https://laohu8.com/S/AMD\">AMD</a>The world's largest chip foundry that manufactures chips from many manufacturers<a href=\"https://laohu8.com/S/TSM\">TSMC</a>The financial report for the first quarter was released, and the revenue reached expectations and hit a new high. The net profit was close to US $5 billion, a significant year-on-year increase.</p><p>Financial report data shows:</p><p>In terms of main business income, TSMC's revenue in the first quarter was US $12.919 billion, a year-on-year increase of 16.7% and a quarter-on-quarter increase of 0.2%. In terms of gross profit, TSMC's gross profit in the first quarter was US $6.767 billion, a year-on-year increase of 18.1%, but a month-on-month decrease of 2.8%. The gross profit margin was 52.4%, a year-on-year increase of 1.4%, and a month-on-month decrease of 1.6%. In terms of net profit, TSMC's net profit in the first quarter was US $4.981 billion, a year-on-year increase of 19.4%, but like gross profit, it was not as good as the previous quarter, falling 2.2% month-on-month.<img src=\"https://static.tigerbbs.com/7780f6783d94f7846de41ff8f99a4b3f\" tg-width=\"640\" tg-height=\"423\" referrerpolicy=\"no-referrer\"></p><p>Although TSMC's gross profit and net profit in the first quarter were lower than those in the previous quarter, they still met market expectations.</p><p>And,<b>TSMC's first-quarter revenue and net income also beat analyst estimates</b>。 Analysts on average expect TSMC's first-quarter revenue to be NT $360.5 billion and net profit to be NT $136.2 billion.</p><p>In the financial report for the fourth quarter of last year released on January 15, TSMC expected the gross profit margin in the first quarter to be 50.5%-52.5%, while<b>The final gross profit margin of 52.4% is close to the expected upper limit</b>。 In its financial report for the fourth quarter of last year, TSMC expected revenue in the first quarter to be between US $12.7 billion and US $13 billion, while<b>The final $12.919 billion is also close to the upper limit of expectations</b>。</p><p><h2>Production capacity is in short supply</h2>In the first quarter, TSMC's 5nm shipments accounted for 14% of total wafer revenue, and 7nm accounted for 35%. Overall, advanced technologies (7nm and more advanced technologies) account for 49% of total wafer revenue.</p><p>Apple's iPhone,<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>A surge in demand for chips used in TVs and connected cars has pushed TSMC at the heart of a tight global supply chain. Although Taiwan's largest chipmaker keeps its fabs utilized at over 100%, the company's production capacity is insufficient to meet the needs of all its customers.</p><p>It is worth noting that there was a sudden power outage at TSMC Nanke Fab14 P7 factory yesterday morning. The industry estimates that 30,000 wafers will be affected, and the loss amount will be less than NT $1 billion (approximately RMB 230 million).</p><p>At present, the world's advanced process chips are in short supply, and TSMC's first-quarter revenue also exceeded analysts' expectations, setting a record for three consecutive quarters.</p><p><h2>Increase capital expenditure</h2>It is worth mentioning that under the background of the shortage of semiconductor chip production capacity, TSMC, as the global foundry leader, continues to increase capital expenditures. Because the pressure of production capacity exceeding demand has risen sharply, TSMC held a legal conference today. It is expected that production capacity will remain tight throughout this year, and said that the capital expenditure for this year will be US $30 billion.</p><p>At the beginning of this year, TSMC expected capital expenditures of 25 billion to 28 billion US dollars in 2021. This increase is 10-20%. Just at the beginning of this month, TSMC announced that it would invest US $100 billion in the next three years to aggressively expand production.</p><p>Cathay Futures analyst Felix Hsu said in a note released on April 7 that due to better-than-expected semiconductor demand over the long term,<b>TSMC is likely to achieve a compound annual growth rate (CAGR) of 15% with US $100 billion in capital expenditures over the next three years</b>。 He expects TSMC's second-quarter guidance to be higher than the consensus estimate.</p><p>As major U.S. automakers and other device suppliers face chronic chip shortages, U.S. Biden proposed to spend $50 billion to support U.S. semiconductor research and manufacturing. The initiative could help TSMC's plans to build a high-end wafer fab in Arizona this year, which could cost $12 billion.</p><p>Shares of TSMC have more than doubled in the past year. The stock rose 1.1% on Thursday ahead of the company's earnings report.</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>TSMC's Q1 revenue and profit exceeded expectations, and gross profit margin approached the expected upper limit</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\">\nTSMC's Q1 revenue and profit exceeded expectations, and gross profit margin approached the expected upper limit\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\">2021-04-15 15:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p>April 15, for<a href=\"https://laohu8.com/S/AAPL\">Apple</a>、<a href=\"https://laohu8.com/S/AMD\">AMD</a>The world's largest chip foundry that manufactures chips from many manufacturers<a href=\"https://laohu8.com/S/TSM\">TSMC</a>The financial report for the first quarter was released, and the revenue reached expectations and hit a new high. The net profit was close to US $5 billion, a significant year-on-year increase.</p><p>Financial report data shows:</p><p>In terms of main business income, TSMC's revenue in the first quarter was US $12.919 billion, a year-on-year increase of 16.7% and a quarter-on-quarter increase of 0.2%. In terms of gross profit, TSMC's gross profit in the first quarter was US $6.767 billion, a year-on-year increase of 18.1%, but a month-on-month decrease of 2.8%. The gross profit margin was 52.4%, a year-on-year increase of 1.4%, and a month-on-month decrease of 1.6%. In terms of net profit, TSMC's net profit in the first quarter was US $4.981 billion, a year-on-year increase of 19.4%, but like gross profit, it was not as good as the previous quarter, falling 2.2% month-on-month.<img src=\"https://static.tigerbbs.com/7780f6783d94f7846de41ff8f99a4b3f\" tg-width=\"640\" tg-height=\"423\" referrerpolicy=\"no-referrer\"></p><p>Although TSMC's gross profit and net profit in the first quarter were lower than those in the previous quarter, they still met market expectations.</p><p>And,<b>TSMC's first-quarter revenue and net income also beat analyst estimates</b>。 Analysts on average expect TSMC's first-quarter revenue to be NT $360.5 billion and net profit to be NT $136.2 billion.</p><p>In the financial report for the fourth quarter of last year released on January 15, TSMC expected the gross profit margin in the first quarter to be 50.5%-52.5%, while<b>The final gross profit margin of 52.4% is close to the expected upper limit</b>。 In its financial report for the fourth quarter of last year, TSMC expected revenue in the first quarter to be between US $12.7 billion and US $13 billion, while<b>The final $12.919 billion is also close to the upper limit of expectations</b>。</p><p><h2>Production capacity is in short supply</h2>In the first quarter, TSMC's 5nm shipments accounted for 14% of total wafer revenue, and 7nm accounted for 35%. Overall, advanced technologies (7nm and more advanced technologies) account for 49% of total wafer revenue.</p><p>Apple's iPhone,<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>A surge in demand for chips used in TVs and connected cars has pushed TSMC at the heart of a tight global supply chain. Although Taiwan's largest chipmaker keeps its fabs utilized at over 100%, the company's production capacity is insufficient to meet the needs of all its customers.</p><p>It is worth noting that there was a sudden power outage at TSMC Nanke Fab14 P7 factory yesterday morning. The industry estimates that 30,000 wafers will be affected, and the loss amount will be less than NT $1 billion (approximately RMB 230 million).</p><p>At present, the world's advanced process chips are in short supply, and TSMC's first-quarter revenue also exceeded analysts' expectations, setting a record for three consecutive quarters.</p><p><h2>Increase capital expenditure</h2>It is worth mentioning that under the background of the shortage of semiconductor chip production capacity, TSMC, as the global foundry leader, continues to increase capital expenditures. Because the pressure of production capacity exceeding demand has risen sharply, TSMC held a legal conference today. It is expected that production capacity will remain tight throughout this year, and said that the capital expenditure for this year will be US $30 billion.</p><p>At the beginning of this year, TSMC expected capital expenditures of 25 billion to 28 billion US dollars in 2021. This increase is 10-20%. Just at the beginning of this month, TSMC announced that it would invest US $100 billion in the next three years to aggressively expand production.</p><p>Cathay Futures analyst Felix Hsu said in a note released on April 7 that due to better-than-expected semiconductor demand over the long term,<b>TSMC is likely to achieve a compound annual growth rate (CAGR) of 15% with US $100 billion in capital expenditures over the next three years</b>。 He expects TSMC's second-quarter guidance to be higher than the consensus estimate.</p><p>As major U.S. automakers and other device suppliers face chronic chip shortages, U.S. Biden proposed to spend $50 billion to support U.S. semiconductor research and manufacturing. The initiative could help TSMC's plans to build a high-end wafer fab in Arizona this year, which could cost $12 billion.</p><p>Shares of TSMC have more than doubled in the past year. The stock rose 1.1% on Thursday ahead of the company's earnings report.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3627892\">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/975836d8c6eb511241583dccb0d387f2","relate_stocks":{"TSM":"台积电"},"source_url":"https://wallstreetcn.com/articles/3627892","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2127003228","content_text":"4月15日，为苹果、AMD等众多厂商代工芯片的全球第一大的芯片代工商台积电发布了一季度的财报，营收达到了预期并创下新高，净利润接近50亿美元，同比增长明显。\n财报数据显示：\n\n 主营业务收入方面，台积电一季度营收129.19亿美元，同比增长16.7%，环比增长0.2%。毛利润方面，台积电一季度毛利67.67亿美元，同比增长18.1%，但环比下滑了2.8%，毛利润率为52.4%，同比提升1.4%，环比下滑1.6%。净利润方面，台积电一季度净利润49.81亿美元，同比增长19.4%，但同毛利润一样，也不及上一季度，环比下滑2.2%。\n\n\n虽然台积电一季度的毛利润和净利润不及上一季度，但依旧达市场预期。\n并且，台积电第一季度营收和净利润也超出了分析师预期。分析师平均预计，台积电第一季度营收为新台币3605亿新台币，净利为1362亿新台币。\n在1月15日发布的去年四季度财报中，台积电预计一季度的毛利率在50.5%-52.5%，而最终的52.4%的毛利率，接近预期上限。而在去年四季度的财报中，台积电预计一季度的营收在127亿美元-130亿美元，而最终的129.19亿美元，也接近预期上限。\n产能供不应求\n一季度，台积电5nm出货量占晶圆总营收的14%，7nm占35%。整体而言，先进技术（7nm和更先进技术）占晶圆总营收的49%。\n苹果公司的iPhone、智能电视和联网汽车中使用的芯片需求激增，促使台积电成为了全球供应链紧俏的核心。尽管台湾这家最大芯片制造商将其晶圆厂的利用率保持在超过100％，但该公司产能不足以满足其所有客户的需求。\n值得注意的是，昨日台积电南科Fab14 P7厂区上午突然停电，业界预估有3万片晶圆受影响，损失金额在10亿新台币（约合2.3亿人民币）以内。\n目前，全球先进制程芯片正处于供不应求的局面，台积电第一季度营收也超出了分析师预期，连续三季度创下纪录。\n上调资本开支\n值得一提的是，半导体芯片产能紧缺背景下，作为全球代工龙头的台积电不断上调资本开支。因为产能供不应求压力陡升，台积电在今日召开法说会，预计今年全年产能仍将紧张，并表示今年全年资本支出为300亿美元。\n今年年初，台积电预计2021年资本支出250亿-280亿美元。本次上调幅度达10-20%。而就在本月初，台积电宣布将在未来3年投入1000亿美元大举扩产。\nCathay Futures分析师Felix Hsu在4月7日发布的一份报告中表示，由于半导体需求长期好于预期，台积电在未来三年1000亿美元资本支出下，很可能实现15％的复合年增长率（CAGR）。他预计台积电第二季度指引将高于共识预测。\n由于美国主要的汽车制造商和其他装置供应商面临着芯片长期短缺的问题，美国拜登提议将以500亿美元用于支持美国的半导体研究和制造。该倡议可能有助于台积电今年在亚利桑那州建设高端晶圆厂的计划，该工厂可能耗资120亿美元。\n台积电的股价在过去一年中增长了一倍以上。在该公司发布财报之前，该股周四上涨了1.1％。","news_type":1,"symbols_score_info":{"TSM":0.9}},"isVote":1,"tweetType":1,"viewCount":713,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":347136433,"gmtCreate":1618473827822,"gmtModify":1704711370197,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"666666","listText":"666666","text":"666666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/347136433","repostId":"1111977847","repostType":4,"repost":{"id":"1111977847","kind":"news","pubTimestamp":1618472047,"share":"https://ttm.financial/m/news/1111977847?lang=en_US&edition=fundamental","pubTime":"2021-04-15 15:34","market":"us","language":"zh","title":"Dismantling TuSimple: 6 questions to understand the world's first autonomous driving stock","url":"https://stock-news.laohu8.com/highlight/detail?id=1111977847","media":"甲子光年","summary":"文/高雅\n就在今天晚上，“全球自动驾驶第一股”要来了。如果不出意外，美东时间4月15日，图森未来（以下简称“图森”）将在纳斯达克上市，股票代码TSP。\n与此前看客们的期待不同，“全球自动驾驶第一股”率","content":"<p>Text/Elegant</p><p>Just tonight, \"the world's first autonomous driving stock\" is coming. If nothing else happens, TuSimple (hereinafter referred to as \"TuSimple\") will be listed on Nasdaq on April 15, Eastern Time, under the stock code TSP.</p><p>Different from the previous expectations of spectators, the \"world's first autonomous driving stock\" was the first to liberate the hands of truck drivers. On March 23 this year, Tucson, a self-driving truck company, submitted an IPO application; On the 7th of this month, it further determined the price range and quantity of stock issuance.</p><p>In this listing, Tucson is preparing to issue 33.78 million ADSs, including 27.02 million shares issued by the company and existing shareholders<a href=\"https://laohu8.com/S/SINA\">SINA</a>6.75 million shares sold. Tucson has established an issue price range of $35 to $39. According to previous disclosures, Tucson hopes to raise 800-1 billion US dollars. If it goes public smoothly, Tucson's overall valuation will be about $5 billion to $7 billion.</p><p>Some analysts believe that Tucson is likely to be able to sell an additional $1 billion in shares \"because investors have an appetite\". The autonomous driving track is currently booming financing. According to the previous exclusive news of \"Jiazi Lightnian\", the autonomous driving company Xidi Zhijia completed two financings within three months, and the latest round of financing far exceeded plan. Xidi Smart Driving is just a microcosm of the entire track. In the first two months of 2021 alone, there have been 24 investment and financing events in the autonomous driving industry, and the total amount of investment and financing disclosed is 17.64 billion yuan.</p><p>With the listing of Tucson, Nasdaq will also welcome the world's first listed autonomous driving company. The close contact between autonomous driving and the stock market kicked off. In the listing competition, Tucson successfully took the lead.</p><p>\"Jiazi Guangnian\" dismantled Tucson's prospectus to see what kind of company it is:</p><p>The driverless track is hot, and this is a good time to land in the secondary market. Tucson successfully took the lead;</p><p>To seize the world's first autonomous driving stock, Tucson wants to prepare food and grass for subsequent business development. According to its plan, Tucson will expand its autonomous freight network (AFN) throughout the continental United States by 2024;</p><p>For the purpose of the funds raised from the listing, Tucson has no R&D and product investment in its current plan;</p><p>Compared with the passenger track, the driverless truck market seems to be a blue ocean. However, the technology landing and commercialization only started, and the marathon only started;</p><p>Tucson is still losing money and has no current profit plans;</p><p>Tucson's largest outside shareholder is Sun Dream Inc., an affiliate of Sina. How did this established Internet company invest in an autonomous driving company? Intriguing.</p><p><b>1. Who is Tucson?</b></p><p>Tucson is a driverless truck brand. Founded in September 2015, it wants to empower the global logistics and transportation industry through artificial intelligence.</p><p>This company claims that its vision is to revolutionize the global trucking market of about $4 trillion. According to the report of consulting firm Armstrong & Associates, the total U.S. freight market has annual revenue of $100 million, and truck freight accounts for 80%. The United States is Tucson's main market right now.</p><p>To achieve this goal, Tucson has developed technologies for semi-trucks, namely commercially available L4 autonomous driving solutions based on computer vision, unmanned transportation solutions for high-speed scenarios and container trucks in ports, plus autonomous freight networks (AFN), Tucson believes will make long-distance trucking safer, more reliable, more efficient and more environmentally friendly.</p><p>The so-called L4 level unmanned driving (High Automation) means that the vehicle can automatically plan the driving route, avoid traffic congestion, etc. under the control of the driving computer, and the owner can operate without intervening.</p><p>In 2020, Tucson earned $1.84 million; That figure was $9,000 in 2018. In fact, similar companies in autonomous driving have ushered in good days recently. In addition to the gradual maturity of technology and the general increase in acceptance, the epidemic has reduced contact between people.</p><p>The current \"TuSimple Future Co., Ltd.\", formerly known as \"Beijing TuSimple Internet Technology Co., Ltd.\" In 2017, the company changed its name to \"TuSimple\", and its business also shifted from providing technical services to autonomous driving. At that time, founder Chen Mo took a fancy to the hot autonomous driving. Chen Mo advertises himself as \"a pragmatist\" and will choose the road closest to money.</p><p>This is also Chen Mo's fifth venture. Before founding Tucson, Chen Mo participated in the operation of three companies successively, namely Sky Advertising (a building advertising platform), Deep Blue Brothers (page game chess platform) and Cheguo.com (automobile O2O trading platform). However, in addition to taking the lead, starting a business also requires a little luck. The first three ventures collapsed in the middle of the road until Tucson came into existence.</p><p>Tucson's technical background comes from another founding member, CTO Hou Xiaodi, who is a Ph.D. in computing and nervous system at Caltech. He founded the theory of visual attention mechanism based on the frequency domain, and was called the prototype of \"campus hacker\" by the media.</p><p><b>2. Why did you choose a truck?</b></p><p>Autonomous driving can be divided into passenger field and commercial field. The semi-truck selected by Tucson belongs to the commercial field of unmanned driving. Domestic analysts often regard Tucson, Zhijia, and Pony.ai as the \"three treasures of new forces\" in the unmanned freight market.</p><p>The market space of passenger cars is far larger than that of commercial vehicles. Chen Mo once told the media that their (passenger car) market is nearly 10 times that of ours. This makes the track in the passenger field more crowded. An entrepreneur in the autonomous driving industry told \"Jiazi Lightnian\" that from<a href=\"https://laohu8.com/S/GOOG\">Google</a>、<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Entrepreneurs coming out of the direction of autonomous driving will give priority to passenger car projects. For example, Wang Jin, founder of WeRide (formerly Jingchi Technology), and Lou Tiancheng, founder of Pony.ai, both chose the passenger field.</p><p>However, because passenger cars are directly related to people, safety issues have become a higher threshold, making it more difficult to implement and commercialize. In 2018, he developed autonomous driving in the field of passenger cars<a href=\"https://laohu8.com/S/V03.SI\">Startups</a>Many of them didn't make it to this day.</p><p>Relatively speaking, the commercial field is actually easier to land. Chris Urmson, the pioneer of Google's autonomous vehicle and the founder of Aurora, once explained this: If you have a person in the back seat of your autonomous driving vehicle, there will be many concerns. If there is a roll of toilet paper behind it, it will be much less difficult to implement.</p><p>At the same time, as far as the driverless truck market is concerned, the market space is actually not small. McKinsey's data gives evidence: by using driverless truck systems, the overall operating costs of the U.S. trucking industry will drop by about 45%, saving about 85 billion to 125 billion dollars. In China, the situation is exactly the same. Tucson described his career as \"an industry worth $800 billion\" in his recruitment column in official website.</p><p>There are relatively few competitors in the unmanned truck freight market. Sam Abuelsamid, principal research analyst at Guidehouse Insights and senior contributor to Forbes, once said when evaluating Tucson: In the AV (autonomous) truck industry, they must be one of the leaders, if not the leaders.</p><p>It's a fairly small group. In order to avoid fierce competition from passenger cars, some self-driving companies have turned to truck freight. Since April 2019, Pony.ai has also begun to focus on the truck freight market. Previously, it focused on the passenger car market.</p><p><b>3. What to use to attract investors?</b></p><p>In the process of capital markets, Tucson took the lead. Zhijia Technology is Tucson's direct competitor. Bloomberg previously reported that Zhijia wants to go public as a SPAC in early 2021, but there has been no new progress so far.</p><p>\"Taking the lead\" is also very Chen Mo's style. Previously, when he talked on the phone with Yuan Hongming, chairman of Shaanxi Automobile, he said: If others do it first, if you slow down, wouldn't the market be occupied?</p><p>What does Tucson rely on to attract investors in the secondary market after successfully taking the lead? Transforming the truck market isn't that sexy, and driverless is not a familiar thing.</p><p>One of the cards Tucson has played is high growth. In 2020, it received more than 5,700 intentional pre-orders, and its financial revenue increased by 160% year-on-year. However, this is because the base is relatively small. Even for the whole year of 2020, Tucson's total revenue is only $1.843 million.</p><p>Possible growth in the future is the bigger temptation Tucson gives. In 2020, Tucson launched the world's first driverless freight network (AFN), which is the basis for its commercialization. It says this in the prospectus: It is expected that by 2024, we will map the entire 46,000-mile U.S. interstate highway system.</p><p>In other words, in three years, its AFN route will be 16 times that of today, and L4 autonomous semi-trucks can be seen on major transportation routes in the 48 states of the United States. But the premise is that this plan is successfully achieved.</p><p>If we look at the use of funds raised, it is difficult to judge how Tucson will promote its above-mentioned plan. According to the prospectus, Tucson will mainly use the funds raised from the IPO in the following three aspects: improving financial flexibility and visibility in the market, and hopes to use the net proceeds from this offering for working capital and other general corporate purposes.</p><p>For the financing purposes of autonomous driving companies, the common destinations of funds are team expansion, product promotion and research and development assistance. For example, the latest round of financing of US $500 million by autonomous driving company Momenta is mainly used for product strategy, pushing its product \"flywheel\" further; The financing of Zhijia Technology in February this year will be focused on strengthening cooperation, mainly to build a complete sales and support network; Funding from self-driving delivery company Nuro last November will be used to scale up teams and manufacturing. Tucson apparently didn't choose this regular route.</p><p><b>4. How about commercialization capabilities?</b></p><p>In the prospectus, Tucson said it was the \"first and only\" company to implement L4-level truck autonomous driving technology on highways and surface streets.</p><p>However, \"Jiazi Lightnian\" found that if \"highways\", \"ground streets\" and \"trucks\" are not limited, there are still many companies that say that they have implemented L4 autonomous driving technology, and each company has its own scenario. For example, Pony.ai demonstrated its L4 self-driving heavy truck software and hardware system in November last year.</p><p>In addition, the advantages emphasized by Tucson in the prospectus include: 28,000 miles (approximately 4.506 million kilometers) of road test kilometers, and parts suppliers in tier 1 (including major operators such as Schneider Nationa, U.S. Xpress and Werner Enterprises) and semi-truck original equipment manufacturers Navistar and TRATON cooperate to jointly create an autonomous freight ecosystem, etc.</p><p>This is not without doubt. Domestic autonomous driving industry insiders ask: In this case, why doesn't Tucson provide services to domestic companies? \"On the one hand, the policy environment between China and the United States is different. Autonomous driving depends on the technology of control-by-wire, and whether the technical capabilities of control-by-wire are sufficient or not is on the other hand.\"</p><p>At this stage, in fact, no company can truly achieve commercialization, and players in the industry compete more for commercialization potential.</p><p>Pre-orders have become one of the important indicators to measure commercialization. One of the highlights of Tucson's prospectus is that it has received more than 5,700 pre-orders of intention within 4 months. But like Tucson, Zhijia has also received pre-orders. According to the latest news, PlusDrive (Zhijia Technology's commercial vehicle autonomous driving system) has received more than 10,000 pre-orders for deployment by large fleets and heavy truck OEMs. The delivery time of Zhijia is set for 2021.</p><p>Car companies are running desperately, trying to seize the opportunity. According to the mass production schedule of autonomous vehicles given in the \"Intelligent Connected Vehicle Technology Roadmap 2.0\" released in November last year, it is to achieve the large-scale application of highly autonomous driving technology in 2030. In other words, the official plan to realize L4 is still about 10 years away.</p><p>Even if car companies develop self-driving cars with L4 and above, countries around the world are still exploring the responsibility allocation rules for L4 and above levels. This is also a hurdle that commercialization needs to overcome.</p><p><b>5. There is no timetable for profit</b></p><p>Not only Tucson, but also the marathon of the entire autonomous driving industry has only taken the first step. In terms of profitability, Tucson's statement in the prospectus is: There is no plan yet.</p><p>Like most technology companies, Tucson is still losing money. According to Tucson's prospectus, as of December 31, 2020, Tucson had a total loss of US $405.2 million (approximately RMB 2.64 billion) in five years, and a loss of US $177.9 million (approximately RMB 1.16 billion) in 2020 alone. From 2018 to 2020, Tucson's annual net loss was about twice that of the previous year.</p><p>Losses are likely to continue. Chen Mo once said that it would take about $1 billion to make money from driverless truck freight.</p><p>The AFN ecosystem is still in the early stages of development and commercialization, and there is still a way to go before it can become profitable. In 2020, the surge in Tucson's annual revenue is closely related to the more than 5,700 undelivered pre-orders, but about 75% of these orders are placed by customers who operate commercial truck fleets, which is far from truly market-oriented operations. There is still a distance.</p><p>Autonomous driving is an industry that requires continuous investment in research and development and maintaining innovation capabilities. According to data from research firm PitchBook, startups in the autonomous driving industry spend an average of US $1.6 million (equivalent to 105.1 billion yuan) per month. WeRide CEO Han Xu also revealed the company's spending speed: 300 million US dollars in three years and 500 million US dollars in five years.</p><p>Currently, of Tucson's 839 employees, 673 are R&D personnel, accounting for 80%. From 2018 to 2020, the company's R&D expenditures were US $32.278 million, US $63.619 million and US $132 million respectively, accounting for more than 70% of the total expenditures, and there is a slight upward trend.</p><p>As the commercialization process unfolds, operating costs may continue to increase, which may be delayed<a href=\"https://laohu8.com/S/06838\">When profitable</a>Interval. In the three years from 2018 to 2020, Tucson's marketing expenses were US $1.085 million, US $814,000, and US $1.313 million respectively, accounting for a small proportion of expenditures. However, after the mass production of L4 trucks is truly realized, marketing and market expansion expenses may also rise. Investors also need to consider these factors when calculating the possibility of profitability.</p><p>Take Waymo, a subsidiary of Google, as an example. It provides driverless taxi services to 1,500 passengers in Phoenix, USA every month, but the revenue of this service is only tens of thousands of dollars. Revenue of this scale is almost negligible, but it currently burns Google $1 billion every year. However, people's vision is in the future, according to<a href=\"https://laohu8.com/S/UBS\">UBS</a>(UBS) predicts that by 2030, Waymo's revenue could reach $114 billion.</p><p>The future of Tucson needs to be based on the mass production of half-cards. At present, Tucson's semi-truck test vehicle still needs to be equipped with a safety officer and driver to get on the road. Chen Mo once said that technically, it is a prerequisite for mass production to remove safety officers. Only when the hardware reliability reaches the standard can it be possible to remove the safety officer. For example, only when the power supply of the machine can reach 4000 watt hours can the machine run continuously without downtime, but the current hardware cannot reach this level. If the technical level is insufficient, mass production cannot be achieved, and if mass production cannot be achieved, there is no commercialization.</p><p><b>6. Who holds Tucson?</b></p><p>Before the IPO, TuSimple had completed a total of 10 rounds of financing and raised more than US $650 million. Sina,<a href=\"https://laohu8.com/S/NVDA\">Nvidia</a>, UPS, Navistar, Korean first-class automobile supplier Mando,<a href=\"https://laohu8.com/S/0P6N.UK\">Volkswagen Group</a>TRATON, CDH Investment, etc. are all shareholders of Tucson.</p><p>According to the information in the prospectus, Chen Mo, co-founder and chairman of TuSimple, held 9% of Class A shares and 50% of Class B shares before the IPO; Co-founder and CTO Hou Xiaodi holds 8.3% of Class A shares and 50% of Class B shares.</p><p>Sun Dream Inc., an affiliate of Sina, is Tucson's largest outside shareholder, holding 31 million shares, accounting for about 20% of Class A shares. Sina CEO Cao Guowei and CFO Zhang Yi are both directors of Tucson. In Tucson's A round to D round of financing, Sina Microventure Capital participated in the investment.</p><p>The reason why Sina initially invested in Tucson was probably that it valued its pre-transformation product, that is, the image recognition technology of online advertising, but it didn't expect to become a shareholder of an autonomous driving company.</p><p>After the IPO, Chen Mo will hold 7.6% of the company's Class A shares and 50% of Class B shares; Hou Xiaodi holds 7.1% of Class A shares and 50% of Class B shares. Sun Dream Inc. holds 13.1% of the Class A shares.</p><p>In addition, truck manufacturer Navistar International Corp. (NYSE: NAV) also holds 10.2 million Class A shares (6.5%) in Tucson. After listing, Navistar's shareholding ratio is 5.4%.</p><p>Among the investors in the secondary market, there are also many well-known institutions betting on Tucson. In the subscription news of this IPO,<a href=\"https://laohu8.com/S/BLK\">BlackRock</a>Three investment institutions, BlackRock, Fidelity and Capital World Investors, participated in the IPO subscription as cornerstone investors, subscribing for an average of 3,378,378 shares, and the maximum total subscription of 10,135,134 shares.</p>","source":"lsy1569753395102","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>Dismantling TuSimple: 6 questions to understand the world's first autonomous driving stock</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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\">\nDismantling TuSimple: 6 questions to understand the world's first autonomous driving stock\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">甲子光年</strong><span class=\"h-time small\">2021-04-15 15:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Text/Elegant</p><p>Just tonight, \"the world's first autonomous driving stock\" is coming. If nothing else happens, TuSimple (hereinafter referred to as \"TuSimple\") will be listed on Nasdaq on April 15, Eastern Time, under the stock code TSP.</p><p>Different from the previous expectations of spectators, the \"world's first autonomous driving stock\" was the first to liberate the hands of truck drivers. On March 23 this year, Tucson, a self-driving truck company, submitted an IPO application; On the 7th of this month, it further determined the price range and quantity of stock issuance.</p><p>In this listing, Tucson is preparing to issue 33.78 million ADSs, including 27.02 million shares issued by the company and existing shareholders<a href=\"https://laohu8.com/S/SINA\">SINA</a>6.75 million shares sold. Tucson has established an issue price range of $35 to $39. According to previous disclosures, Tucson hopes to raise 800-1 billion US dollars. If it goes public smoothly, Tucson's overall valuation will be about $5 billion to $7 billion.</p><p>Some analysts believe that Tucson is likely to be able to sell an additional $1 billion in shares \"because investors have an appetite\". The autonomous driving track is currently booming financing. According to the previous exclusive news of \"Jiazi Lightnian\", the autonomous driving company Xidi Zhijia completed two financings within three months, and the latest round of financing far exceeded plan. Xidi Smart Driving is just a microcosm of the entire track. In the first two months of 2021 alone, there have been 24 investment and financing events in the autonomous driving industry, and the total amount of investment and financing disclosed is 17.64 billion yuan.</p><p>With the listing of Tucson, Nasdaq will also welcome the world's first listed autonomous driving company. The close contact between autonomous driving and the stock market kicked off. In the listing competition, Tucson successfully took the lead.</p><p>\"Jiazi Guangnian\" dismantled Tucson's prospectus to see what kind of company it is:</p><p>The driverless track is hot, and this is a good time to land in the secondary market. Tucson successfully took the lead;</p><p>To seize the world's first autonomous driving stock, Tucson wants to prepare food and grass for subsequent business development. According to its plan, Tucson will expand its autonomous freight network (AFN) throughout the continental United States by 2024;</p><p>For the purpose of the funds raised from the listing, Tucson has no R&D and product investment in its current plan;</p><p>Compared with the passenger track, the driverless truck market seems to be a blue ocean. However, the technology landing and commercialization only started, and the marathon only started;</p><p>Tucson is still losing money and has no current profit plans;</p><p>Tucson's largest outside shareholder is Sun Dream Inc., an affiliate of Sina. How did this established Internet company invest in an autonomous driving company? Intriguing.</p><p><b>1. Who is Tucson?</b></p><p>Tucson is a driverless truck brand. Founded in September 2015, it wants to empower the global logistics and transportation industry through artificial intelligence.</p><p>This company claims that its vision is to revolutionize the global trucking market of about $4 trillion. According to the report of consulting firm Armstrong & Associates, the total U.S. freight market has annual revenue of $100 million, and truck freight accounts for 80%. The United States is Tucson's main market right now.</p><p>To achieve this goal, Tucson has developed technologies for semi-trucks, namely commercially available L4 autonomous driving solutions based on computer vision, unmanned transportation solutions for high-speed scenarios and container trucks in ports, plus autonomous freight networks (AFN), Tucson believes will make long-distance trucking safer, more reliable, more efficient and more environmentally friendly.</p><p>The so-called L4 level unmanned driving (High Automation) means that the vehicle can automatically plan the driving route, avoid traffic congestion, etc. under the control of the driving computer, and the owner can operate without intervening.</p><p>In 2020, Tucson earned $1.84 million; That figure was $9,000 in 2018. In fact, similar companies in autonomous driving have ushered in good days recently. In addition to the gradual maturity of technology and the general increase in acceptance, the epidemic has reduced contact between people.</p><p>The current \"TuSimple Future Co., Ltd.\", formerly known as \"Beijing TuSimple Internet Technology Co., Ltd.\" In 2017, the company changed its name to \"TuSimple\", and its business also shifted from providing technical services to autonomous driving. At that time, founder Chen Mo took a fancy to the hot autonomous driving. Chen Mo advertises himself as \"a pragmatist\" and will choose the road closest to money.</p><p>This is also Chen Mo's fifth venture. Before founding Tucson, Chen Mo participated in the operation of three companies successively, namely Sky Advertising (a building advertising platform), Deep Blue Brothers (page game chess platform) and Cheguo.com (automobile O2O trading platform). However, in addition to taking the lead, starting a business also requires a little luck. The first three ventures collapsed in the middle of the road until Tucson came into existence.</p><p>Tucson's technical background comes from another founding member, CTO Hou Xiaodi, who is a Ph.D. in computing and nervous system at Caltech. He founded the theory of visual attention mechanism based on the frequency domain, and was called the prototype of \"campus hacker\" by the media.</p><p><b>2. Why did you choose a truck?</b></p><p>Autonomous driving can be divided into passenger field and commercial field. The semi-truck selected by Tucson belongs to the commercial field of unmanned driving. Domestic analysts often regard Tucson, Zhijia, and Pony.ai as the \"three treasures of new forces\" in the unmanned freight market.</p><p>The market space of passenger cars is far larger than that of commercial vehicles. Chen Mo once told the media that their (passenger car) market is nearly 10 times that of ours. This makes the track in the passenger field more crowded. An entrepreneur in the autonomous driving industry told \"Jiazi Lightnian\" that from<a href=\"https://laohu8.com/S/GOOG\">Google</a>、<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Entrepreneurs coming out of the direction of autonomous driving will give priority to passenger car projects. For example, Wang Jin, founder of WeRide (formerly Jingchi Technology), and Lou Tiancheng, founder of Pony.ai, both chose the passenger field.</p><p>However, because passenger cars are directly related to people, safety issues have become a higher threshold, making it more difficult to implement and commercialize. In 2018, he developed autonomous driving in the field of passenger cars<a href=\"https://laohu8.com/S/V03.SI\">Startups</a>Many of them didn't make it to this day.</p><p>Relatively speaking, the commercial field is actually easier to land. Chris Urmson, the pioneer of Google's autonomous vehicle and the founder of Aurora, once explained this: If you have a person in the back seat of your autonomous driving vehicle, there will be many concerns. If there is a roll of toilet paper behind it, it will be much less difficult to implement.</p><p>At the same time, as far as the driverless truck market is concerned, the market space is actually not small. McKinsey's data gives evidence: by using driverless truck systems, the overall operating costs of the U.S. trucking industry will drop by about 45%, saving about 85 billion to 125 billion dollars. In China, the situation is exactly the same. Tucson described his career as \"an industry worth $800 billion\" in his recruitment column in official website.</p><p>There are relatively few competitors in the unmanned truck freight market. Sam Abuelsamid, principal research analyst at Guidehouse Insights and senior contributor to Forbes, once said when evaluating Tucson: In the AV (autonomous) truck industry, they must be one of the leaders, if not the leaders.</p><p>It's a fairly small group. In order to avoid fierce competition from passenger cars, some self-driving companies have turned to truck freight. Since April 2019, Pony.ai has also begun to focus on the truck freight market. Previously, it focused on the passenger car market.</p><p><b>3. What to use to attract investors?</b></p><p>In the process of capital markets, Tucson took the lead. Zhijia Technology is Tucson's direct competitor. Bloomberg previously reported that Zhijia wants to go public as a SPAC in early 2021, but there has been no new progress so far.</p><p>\"Taking the lead\" is also very Chen Mo's style. Previously, when he talked on the phone with Yuan Hongming, chairman of Shaanxi Automobile, he said: If others do it first, if you slow down, wouldn't the market be occupied?</p><p>What does Tucson rely on to attract investors in the secondary market after successfully taking the lead? Transforming the truck market isn't that sexy, and driverless is not a familiar thing.</p><p>One of the cards Tucson has played is high growth. In 2020, it received more than 5,700 intentional pre-orders, and its financial revenue increased by 160% year-on-year. However, this is because the base is relatively small. Even for the whole year of 2020, Tucson's total revenue is only $1.843 million.</p><p>Possible growth in the future is the bigger temptation Tucson gives. In 2020, Tucson launched the world's first driverless freight network (AFN), which is the basis for its commercialization. It says this in the prospectus: It is expected that by 2024, we will map the entire 46,000-mile U.S. interstate highway system.</p><p>In other words, in three years, its AFN route will be 16 times that of today, and L4 autonomous semi-trucks can be seen on major transportation routes in the 48 states of the United States. But the premise is that this plan is successfully achieved.</p><p>If we look at the use of funds raised, it is difficult to judge how Tucson will promote its above-mentioned plan. According to the prospectus, Tucson will mainly use the funds raised from the IPO in the following three aspects: improving financial flexibility and visibility in the market, and hopes to use the net proceeds from this offering for working capital and other general corporate purposes.</p><p>For the financing purposes of autonomous driving companies, the common destinations of funds are team expansion, product promotion and research and development assistance. For example, the latest round of financing of US $500 million by autonomous driving company Momenta is mainly used for product strategy, pushing its product \"flywheel\" further; The financing of Zhijia Technology in February this year will be focused on strengthening cooperation, mainly to build a complete sales and support network; Funding from self-driving delivery company Nuro last November will be used to scale up teams and manufacturing. Tucson apparently didn't choose this regular route.</p><p><b>4. How about commercialization capabilities?</b></p><p>In the prospectus, Tucson said it was the \"first and only\" company to implement L4-level truck autonomous driving technology on highways and surface streets.</p><p>However, \"Jiazi Lightnian\" found that if \"highways\", \"ground streets\" and \"trucks\" are not limited, there are still many companies that say that they have implemented L4 autonomous driving technology, and each company has its own scenario. For example, Pony.ai demonstrated its L4 self-driving heavy truck software and hardware system in November last year.</p><p>In addition, the advantages emphasized by Tucson in the prospectus include: 28,000 miles (approximately 4.506 million kilometers) of road test kilometers, and parts suppliers in tier 1 (including major operators such as Schneider Nationa, U.S. Xpress and Werner Enterprises) and semi-truck original equipment manufacturers Navistar and TRATON cooperate to jointly create an autonomous freight ecosystem, etc.</p><p>This is not without doubt. Domestic autonomous driving industry insiders ask: In this case, why doesn't Tucson provide services to domestic companies? \"On the one hand, the policy environment between China and the United States is different. Autonomous driving depends on the technology of control-by-wire, and whether the technical capabilities of control-by-wire are sufficient or not is on the other hand.\"</p><p>At this stage, in fact, no company can truly achieve commercialization, and players in the industry compete more for commercialization potential.</p><p>Pre-orders have become one of the important indicators to measure commercialization. One of the highlights of Tucson's prospectus is that it has received more than 5,700 pre-orders of intention within 4 months. But like Tucson, Zhijia has also received pre-orders. According to the latest news, PlusDrive (Zhijia Technology's commercial vehicle autonomous driving system) has received more than 10,000 pre-orders for deployment by large fleets and heavy truck OEMs. The delivery time of Zhijia is set for 2021.</p><p>Car companies are running desperately, trying to seize the opportunity. According to the mass production schedule of autonomous vehicles given in the \"Intelligent Connected Vehicle Technology Roadmap 2.0\" released in November last year, it is to achieve the large-scale application of highly autonomous driving technology in 2030. In other words, the official plan to realize L4 is still about 10 years away.</p><p>Even if car companies develop self-driving cars with L4 and above, countries around the world are still exploring the responsibility allocation rules for L4 and above levels. This is also a hurdle that commercialization needs to overcome.</p><p><b>5. There is no timetable for profit</b></p><p>Not only Tucson, but also the marathon of the entire autonomous driving industry has only taken the first step. In terms of profitability, Tucson's statement in the prospectus is: There is no plan yet.</p><p>Like most technology companies, Tucson is still losing money. According to Tucson's prospectus, as of December 31, 2020, Tucson had a total loss of US $405.2 million (approximately RMB 2.64 billion) in five years, and a loss of US $177.9 million (approximately RMB 1.16 billion) in 2020 alone. From 2018 to 2020, Tucson's annual net loss was about twice that of the previous year.</p><p>Losses are likely to continue. Chen Mo once said that it would take about $1 billion to make money from driverless truck freight.</p><p>The AFN ecosystem is still in the early stages of development and commercialization, and there is still a way to go before it can become profitable. In 2020, the surge in Tucson's annual revenue is closely related to the more than 5,700 undelivered pre-orders, but about 75% of these orders are placed by customers who operate commercial truck fleets, which is far from truly market-oriented operations. There is still a distance.</p><p>Autonomous driving is an industry that requires continuous investment in research and development and maintaining innovation capabilities. According to data from research firm PitchBook, startups in the autonomous driving industry spend an average of US $1.6 million (equivalent to 105.1 billion yuan) per month. WeRide CEO Han Xu also revealed the company's spending speed: 300 million US dollars in three years and 500 million US dollars in five years.</p><p>Currently, of Tucson's 839 employees, 673 are R&D personnel, accounting for 80%. From 2018 to 2020, the company's R&D expenditures were US $32.278 million, US $63.619 million and US $132 million respectively, accounting for more than 70% of the total expenditures, and there is a slight upward trend.</p><p>As the commercialization process unfolds, operating costs may continue to increase, which may be delayed<a href=\"https://laohu8.com/S/06838\">When profitable</a>Interval. In the three years from 2018 to 2020, Tucson's marketing expenses were US $1.085 million, US $814,000, and US $1.313 million respectively, accounting for a small proportion of expenditures. However, after the mass production of L4 trucks is truly realized, marketing and market expansion expenses may also rise. Investors also need to consider these factors when calculating the possibility of profitability.</p><p>Take Waymo, a subsidiary of Google, as an example. It provides driverless taxi services to 1,500 passengers in Phoenix, USA every month, but the revenue of this service is only tens of thousands of dollars. Revenue of this scale is almost negligible, but it currently burns Google $1 billion every year. However, people's vision is in the future, according to<a href=\"https://laohu8.com/S/UBS\">UBS</a>(UBS) predicts that by 2030, Waymo's revenue could reach $114 billion.</p><p>The future of Tucson needs to be based on the mass production of half-cards. At present, Tucson's semi-truck test vehicle still needs to be equipped with a safety officer and driver to get on the road. Chen Mo once said that technically, it is a prerequisite for mass production to remove safety officers. Only when the hardware reliability reaches the standard can it be possible to remove the safety officer. For example, only when the power supply of the machine can reach 4000 watt hours can the machine run continuously without downtime, but the current hardware cannot reach this level. If the technical level is insufficient, mass production cannot be achieved, and if mass production cannot be achieved, there is no commercialization.</p><p><b>6. Who holds Tucson?</b></p><p>Before the IPO, TuSimple had completed a total of 10 rounds of financing and raised more than US $650 million. Sina,<a href=\"https://laohu8.com/S/NVDA\">Nvidia</a>, UPS, Navistar, Korean first-class automobile supplier Mando,<a href=\"https://laohu8.com/S/0P6N.UK\">Volkswagen Group</a>TRATON, CDH Investment, etc. are all shareholders of Tucson.</p><p>According to the information in the prospectus, Chen Mo, co-founder and chairman of TuSimple, held 9% of Class A shares and 50% of Class B shares before the IPO; Co-founder and CTO Hou Xiaodi holds 8.3% of Class A shares and 50% of Class B shares.</p><p>Sun Dream Inc., an affiliate of Sina, is Tucson's largest outside shareholder, holding 31 million shares, accounting for about 20% of Class A shares. Sina CEO Cao Guowei and CFO Zhang Yi are both directors of Tucson. In Tucson's A round to D round of financing, Sina Microventure Capital participated in the investment.</p><p>The reason why Sina initially invested in Tucson was probably that it valued its pre-transformation product, that is, the image recognition technology of online advertising, but it didn't expect to become a shareholder of an autonomous driving company.</p><p>After the IPO, Chen Mo will hold 7.6% of the company's Class A shares and 50% of Class B shares; Hou Xiaodi holds 7.1% of Class A shares and 50% of Class B shares. Sun Dream Inc. holds 13.1% of the Class A shares.</p><p>In addition, truck manufacturer Navistar International Corp. (NYSE: NAV) also holds 10.2 million Class A shares (6.5%) in Tucson. After listing, Navistar's shareholding ratio is 5.4%.</p><p>Among the investors in the secondary market, there are also many well-known institutions betting on Tucson. In the subscription news of this IPO,<a href=\"https://laohu8.com/S/BLK\">BlackRock</a>Three investment institutions, BlackRock, Fidelity and Capital World Investors, participated in the IPO subscription as cornerstone investors, subscribing for an average of 3,378,378 shares, and the maximum total subscription of 10,135,134 shares.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://finance.sina.com.cn/tech/csj/2021-04-15/doc-ikmyaawa9815441.shtml\">甲子光年</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c360efedfdf306e30d535692b886657e","relate_stocks":{},"source_url":"http://finance.sina.com.cn/tech/csj/2021-04-15/doc-ikmyaawa9815441.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111977847","content_text":"文/高雅\n就在今天晚上，“全球自动驾驶第一股”要来了。如果不出意外，美东时间4月15日，图森未来（以下简称“图森”）将在纳斯达克上市，股票代码TSP。\n与此前看客们的期待不同，“全球自动驾驶第一股”率先解放的，是货车司机们的双手。今年3月23日，自动驾驶卡车企业图森递交了IPO申请；本月7日，其进一步确定了股票发行价格区间和发售数量。\n此次上市，图森准备发行3,378万股ADS，其中包含公司发行的2,702万股和现有股东新浪出售的675万股。图森已确定的发行价区间为35美元到39美元。按此前披露，图森希望能募集8~10亿美元。如果顺利上市，图森的整体估值约为50~70亿美元。\n有分析师认为，图森很可能能多出售10亿美元的股票，“因为投资人有胃口”。自动驾驶赛道当下融资火热。据“甲子光年”此前的独家消息，自动驾驶公司希迪智驾在三个月内完成了两次融资，最新一轮融资也远超计划。希迪智驾只是整个赛道的一个缩影，仅在2021的前两个月，自动驾驶行业的投融资事件已有24起，披露投融资总金额为176.4亿元。\n随着图森上市，纳斯达克也将迎来全球第一家上市的自动驾驶公司。自动驾驶与股市的亲密接触拉开序幕。在上市这场竞逐赛中，图森抢跑成功。\n“甲子光年”拆解了图森的招股书，来看看这是家什么样的企业：\n无人驾驶赛道火热，此时是登陆二级市场的好时候，图森抢跑成功；\n抢占全球自动驾驶第一股，图森是要为后续业务开展准备粮草。按其计划，到2024年图森要在整个美国大陆扩展其自主货运网络（AFN）；\n上市募集的资金用途，图森目前的计划中没有研发和产品投入；\n相比乘用赛道，无人驾驶货车市场似乎是片蓝海。但技术落地、商业化才起步，马拉松才开跑；\n图森仍在亏损，目前没有盈利计划；\n图森最大的外部股东是新浪的关联公司Sun Dream Inc.。这家老牌互联网公司怎么投出了一家自动驾驶公司？耐人寻味。\n1.图森是谁？\n图森是一个无人驾驶卡车品牌。它成立于2015年9月，想要通过人工智能为全球物流运输业赋能。\n这家公司宣称，其愿景是彻底变革约4万亿美元全球卡车运输市场。咨询机构Armstrong & Assocates的报告称，其中美国总货运市场年收入为1亿美元，卡车货运又占80%。美国是图森目前的主要市场。\n为实现这个目的，图森开发了针对半卡车的技术，即计算机视觉为主的可商用L4级自动驾驶解决方案、高速场景及港内集装箱卡车的无人驾驶运输解决方案，加上自动驾驶货运网络(AFN)，图森相信将使长途卡车运输更加安全、可靠、高效、环保。\n所谓L4级无人驾驶（High Automation），是指车辆在行车电脑的控制下能自动规划行驶路线、躲避交通拥堵路段等，车主可以不介入操作。\n2020年，图森收入184万美元；2018年这个数字为9000美元。实际上自动驾驶的同类公司近期都迎来了好日子，除了技术逐渐走向成熟、接受度普遍提高，还有疫情减少了人和人之间的接触。\n现在的“图森未来有限公司”，前身是“北京图森互联科技有限责任公司”。2017年时公司更名为“图森未来”，业务也从提供技术服务转向自动驾驶。当时，创始人陈墨看上了火热的自动驾驶。陈墨标榜自己是“一名实用主义者”，会选择离钱最近的道路。\n这也是陈墨的第五次创业。在创立图森之前，陈墨先后参与运营了三家公司，分别是苍穹广告（一家楼宇广告平台）、深蓝兄弟（页游棋牌平台）和车国网（汽车O2O交易平台）。只不过，创业除了要抢先机，还需要一点运气。前三次创业先后中道崩殂，直到有了图森。\n图森的技术底色则来源于另一位创始成员、CTO侯晓迪，后者是加州理工计算与神经系统的博士，创立了基于频域的视觉注意机制理论，被媒体称为是“校园黑客”的原型。\n2.为什么选了卡车？\n自动驾驶可以被分为乘用领域和商用领域。图森选择的半卡属于无人驾驶的商用领域。国内分析人士常把图森、智加、小马智行看作是无人货运市场的“新势力三宝”。\n乘用车的市场空间远远大于商用车。陈墨就曾对媒体表示，他们（乘用车）的市场是我们的将近10倍。这造成了乘用领域的赛道更拥挤。一位自动驾驶行业的创业者告诉“甲子光年”，此前从谷歌、百度自动驾驶方向出来的创业者都会优先选乘用车项目。比如文远知行（原景驰科技）创始人王劲、小马智行创始人楼天城都选择了乘用领域。\n但乘用车因为与人直接相关，安全问题成了一道较高的门槛，导致其落地和商业化难度更高。曾在2018年发力乘用车领域的自动驾驶创业公司，有不少没能撑到今天。\n相对而言，商用领域其实更好落地。Google无人车的开创者、Aurora创始人克里斯·厄姆森曾经这样解释：如果你的自动驾驶后座上是个人，那顾虑会很多。如果后面就是一卷卫生纸，那实现起来难度就会小得多。\n同时，仅无人驾驶货车市场而言，其实市场空间不小。麦肯锡的数据给出了佐证：通过利用无人驾驶货车系统，美国卡车运输业的整体运营成本将下降约45%，可节省约850亿至1250亿美元。在中国，情况也如出一辙。图森在自己官网的招聘栏目中，将自己的事业描述为“一个价值8000亿美元的产业”。\n无人卡车货运市场竞争者相对较少。Guidehouse Insights首席研究分析师、《福布斯》资深撰稿人萨姆·阿伯萨米德(Sam Abuelsamid)评价图森时就曾说过：在AV（自动驾驶）卡车行业，他们即使不是领导者，也肯定是领导者之一。\n这是一个相当小的群体。为避开乘用车的激烈竞争，也有自动驾驶企业转向卡车货运的。2019年4月起，小马智行也开始发力卡车货运市场，此前其专注的是乘用车市场。\n3.拿什么吸引投资人？\n在资本市场的进程中，图森抢先了一步。智加科技是图森的直接竞争对手，此前彭博社就报道过智加想在2021年初以SPAC方式上市的消息，不过迄今没有新的进展。\n“抢先”也很有陈默的风格。此前其与陕汽董事长袁宏明通电话时就曾说过：要是别人先做起来了，您慢一步，市场不就被占光了？\n抢跑成功的图森，靠什么吸引二级市场投资人？变革卡车市场并不那么性感，无人驾驶也不是耳熟能详的事情。\n图森打出来的一张牌，是高增长。2020年它拿到了5700多个意向预订单，财务收入同比增长160%。不过，这是因为基数比较小，即使2020年全年，图森的总收入也不过184.3万美元。\n未来的可能增长是图森给出的更大诱惑。2020年，图森启动了全球首个无人驾驶货运网络（AFN），这是其商业化的基础。它在招股书中这么说：预计到2024年，我们将绘制整个4.6万英里的美国州际公路系统。\n也就是说，3年后其AFN的路线将是今天的16倍，到时候美国48个州的主要运输路线上都可以看到L4自主半卡车。但前提是，这个计划要顺利达成。\n如果从募资资金的用途看，还很难判断图森将如何推动它的上述规划。按招股书披露，图森将IPO募集的资金主要用于以下三方面：提高财务灵活性以及在市场上的知名度，并希望将此次发行的净收益用于营运资金和其他一般公司用途。\n自动驾驶公司的融资用途，常见的资金去向为扩建团队、产品推广和助力研发。比如自动驾驶公司Momenta最新一轮5亿美元的融资主要用于产品战略，将其产品“飞轮”推往更远的地方；智加科技今年2月的融资将放在强化合作上，主要用于构建完善的销售和支持网络；自动驾驶送货公司Nuro去年11月的融资将用于扩大团队和制造规模。图森显然没有选择这条常规路线。\n4.商业化能力怎么样？\n在招股书中，图森说自己是“第一家也是唯一一家”在高速公路和地面街道上实现L4级别卡车自动驾驶技术的公司。\n但“甲子光年”发现，如果不限定“高速公路”、“地面街道”和“卡车”，说自己实现了L4级自动驾驶技术的还有很多家，每家都有各自的场景。比如小马智行去年11月就展示了L4级自动驾驶重卡软硬件系统。\n此外，图森在招股书中强调的优势还包括：2.8万英里（约合450.6万公里）的路测公里数、和处于tier 1的零部件供应商（其中包括Schneider Nationa，U.S.Xpress和Werner Enterprises等主要运营商）以及半卡车原始设备制造商Navistar和TRATON合作，共同打造自动驾驶的货运生态等等。\n对此，并不是没有质疑。国内自动驾驶业内人士就问：既然如此，为什么图森没给国内的公司提供服务呢？“中美的政策环境不一样是一方面，自动驾驶还要看线控的技术，线控的技术能力够不够是另一方面。”\n在当前这个阶段，实际上还没有哪一家公司能真正实现商业化，行业内的选手比拼的更多是商业化的潜力。\n预订单成了衡量商业化落地的重要指标之一。图森招股书中的一大亮点是，其在4个月内获得了5700多个意向预订单。但与图森一样，智加也拿到预订单，按照最新消息，PlusDrive（智加科技商用车自动驾驶系统）已获得超过10,000台可供大型车队及重卡主机厂部署的预定单。智加的交付时间定在了2021年。\n车企们都在拼命奔跑，试图抢占先机。按照去年11月发布的《智能网联汽车技术路线图2.0》给出的自动驾驶车型量产时间表，是在2030年实现高度自动驾驶技术的规模应用。也就是说，实现L4的官方计划大约还有10年。\n即使车企研发出了具备L4及以上的自动驾驶汽车，目前世界各国对L4以上级别的责任分配规则仍还在探索中。这也是商业化需要迈过的一道坎儿。\n5.盈利还没有时间表\n不仅图森，自动驾驶整个行业的马拉松也才迈出第一步。表现在盈利上，图森在招股书中的表述是：还没有计划。\n像大部分科技公司一样，图森仍处于亏损状态。据图森招股书，截至2020年12月31日，图森5年共计亏损4.052亿美元（约为人民币26.4亿），仅2020年全年就亏损了1.779亿美元（约为人民币11.6亿）。从2018年到2020年，图森每年的净亏损额度都是上一年的两倍左右。\n亏损极有可能还将持续。陈默曾说过，要实现无人驾驶卡车货运赚钱，大概需要10亿美元。\nAFN生态系统目前仍处于开发和商业化早期的阶段，要想实现盈利还有一段路要走。2020年，图森全年营收的暴增与那5700多个未交付的预订单紧密相关，但这些订单中大约75%是由运营商用卡车车队的客户提出的，离着真正市场化运营还有距离。\n自动驾驶是一个需要不断投入研发、保持创新能力的行业。据研究机构PitchBook数据，自动驾驶行业里的创业公司平均每月耗掉160万美金（折合1051亿元人民币）。文远知行CEO韩旭也曾透露过公司的花钱速度：3年3亿美元，5年5亿美元。\n目前，图森839名员工中，673人都是研发人员，占比80%。2018至2020年，公司的研发支出分别为3227.8万美元、6361.9万美元和1.32亿美元，在总支出中的占比都超过七成，而且有略微上升的势头。\n随着商业化过程的展开，运营成本可能持续增加，这可能延后盈利时间。在2018至2020年的三年间，图森的营销费用分别为108.5万美元、81.4万美元、131.3万美元，占支出比重较小。但真正实现L4卡车量产后，营销、市场拓展费用也有可能水涨船高，投资人们在计算盈利可能性时也需要考虑这些因素。\n以谷歌旗下的Waymo为例，每个月给美国凤凰城1500名乘客提供无人驾驶出租车服务，但这项服务的营收不过区区上万美元。这样规模的营收几乎可以忽略不计，但目前每年都要烧掉谷歌10亿美元。不过人们的眼光在未来，据瑞银(UBS)预测，到2030年，Waymo的营收可能达到1140亿美元。\n图森的未来，需要建立在半卡的量产基础上。目前，图森的半卡测试车还需要配备一位安全员和司机才能上路。陈墨曾表示，技术上可以去掉安全员是量产的前提。只有硬件可靠性达标时，才有可能去掉安全员。比如，在机器供电可以达到4000瓦时，机器才可以持续运行、不出现宕机的情况，而目前的硬件还无法达到这个水平。技术水平不足就无法实现量产，没法量产就谈不上商业化。\n6.谁在持有图森？\n在IPO之前，图森已经累计获得完成10轮融资、累计募资超过6.5亿美元，新浪、英伟达、UPS、Navistar、韩国汽车一级供应商万都、大众集团TRATON、鼎晖投资等都是图森的股东。\n按招股书信息，IPO之前图森未来联合创始人、董事长陈默持有9%的A类股，50%的B类股；联合创始人、CTO侯晓迪持有8.3%的A类股，及50%的B类股。\n新浪的关联公司Sun Dream Inc.是图森最大的外部股东，持有3,100万股股票，占A级股比例约20%。新浪CEO曹国伟、CFO张怿都是图森董事。在图森A轮到D轮的融资中，新浪微创投均参与投资。\n新浪最初投资图森的原因，很可能是看重其转型前的产品，即在线广告的图像识别技术，没想到成了一家自动驾驶公司的股东。\nIPO后，陈默将持有公司7.6%的A类股，及50%的B类股；侯晓迪持有7.1%的A类股，及50%的B类股。Sun Dream Inc.持股13.1%的A类股。\n此外，卡车制造商Navistar International Corp.（NYSE：NAV）也持有图森1020万A类股（6.5%），上市之后，Navistar的持股比例为5.4%。\n二级市场的投资人中，也不乏知名机构押注图森的。此次IPO的认购消息中，贝莱德（BlackRock）、富达（Fidelity）和资本世界投资者(Capital World Investors)三家投资机构作为基石投资者参与IPO认购，平均认购3,378,378股，最高一共认购10,135,134股。","news_type":1,"symbols_score_info":{"TSP":0.9}},"isVote":1,"tweetType":1,"viewCount":642,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":347136606,"gmtCreate":1618473804105,"gmtModify":1704711369066,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"Good ?&nbsp;","listText":"Good ?&nbsp;","text":"Good ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/347136606","repostId":"1158737349","repostType":4,"repost":{"id":"1158737349","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":1618472281,"share":"https://ttm.financial/m/news/1158737349?lang=en_US&edition=fundamental","pubTime":"2021-04-15 15:38","market":"hk","language":"zh","title":"Spokesperson of the Ministry of Commerce: For e-commerce companies, adhere to equal emphasis on development and standardization","url":"https://stock-news.laohu8.com/highlight/detail?id=1158737349","media":"老虎资讯综合","summary":"针对近日$阿里巴巴(BABA)$集团被罚180亿元引发外界关注一事，商务部新闻发言人高峰表示：关于电子商务行业，我们始终坚持发展与规范并重的原则。我们支持企业创新发展、良性竞争，同时也致力于营造公平竞争的市场环境，这有利于行业整体的可持续性。\n\n此前，商务部公开征求《移动电子商务服务类商品经营规范》行业标准（征求意见稿）意见。","content":"<p>For recent days<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>The group was fined 18 billion yuan, which attracted the attention of the outside world. Gao Feng, spokesman of the Ministry of Commerce, said: Regarding the e-commerce industry, we always adhere to the principle of paying equal attention to development and standardization. We support the innovative development and healthy competition of enterprises, and at the same time, we are committed to creating a fair competitive market environment, which is conducive to the overall sustainability of the industry.</p><p>Previously, the Ministry of Commerce publicly solicited opinions on the industry standard (draft for comments) of \"Mobile E-commerce Service Commodity Operation Specifications\".</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>Spokesperson of the Ministry of Commerce: For e-commerce companies, adhere to equal emphasis on development and standardization</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\">\nSpokesperson of the Ministry of Commerce: For e-commerce companies, adhere to equal emphasis on development and standardization\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\">2021-04-15 15:38</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>For recent days<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>The group was fined 18 billion yuan, which attracted the attention of the outside world. Gao Feng, spokesman of the Ministry of Commerce, said: Regarding the e-commerce industry, we always adhere to the principle of paying equal attention to development and standardization. We support the innovative development and healthy competition of enterprises, and at the same time, we are committed to creating a fair competitive market environment, which is conducive to the overall sustainability of the industry.</p><p>Previously, the Ministry of Commerce publicly solicited opinions on the industry standard (draft for comments) of \"Mobile E-commerce Service Commodity Operation Specifications\".</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/995418fbbbc235e75883dec898dccaa8","relate_stocks":{"09988":"阿里巴巴-W","BABA":"阿里巴巴"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158737349","content_text":"针对近日阿里巴巴集团被罚180亿元引发外界关注一事，商务部新闻发言人高峰表示：关于电子商务行业，我们始终坚持发展与规范并重的原则。我们支持企业创新发展、良性竞争，同时也致力于营造公平竞争的市场环境，这有利于行业整体的可持续性。此前，商务部公开征求《移动电子商务服务类商品经营规范》行业标准（征求意见稿）意见。","news_type":1,"symbols_score_info":{"09988":0.9,"BABA":0.9}},"isVote":1,"tweetType":1,"viewCount":518,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":347136304,"gmtCreate":1618473795308,"gmtModify":1704711368580,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"Good ?&nbsp;","listText":"Good ?&nbsp;","text":"Good ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/347136304","repostId":"1144322767","repostType":4,"repost":{"id":"1144322767","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":1618470804,"share":"https://ttm.financial/m/news/1144322767?lang=en_US&edition=fundamental","pubTime":"2021-04-15 15:13","market":"us","language":"zh","title":"Female version of Buffett Cathie Wood buys a lot of Coinbase","url":"https://stock-news.laohu8.com/highlight/detail?id=1144322767","media":"老虎资讯综合","summary":"4月15日讯，Cathie wood领导的方舟投资管理公司（ARK）在周三购买了749205股Coinbase的股票，该股昨日登陆纳斯达克。其中ARK Innovation ETF增持了512535股","content":"<p>On April 15, ARK Investment Management (ARK), led by Cathie wood, purchased 749,205 shares of Coinbase on Wednesday, and the stock landed on Nasdaq yesterday. among<a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>Increased its holdings by 512,535 shares, accounting for 0.76% of this ETF,<a href=\"https://laohu8.com/S/ARKF\">ARK Fintech Innovation ETF</a>Added 89,589 shares, accounting for about 0.76% of this ETF,<a href=\"https://laohu8.com/S/ARKW\">ARK Next Generation Internet ETF</a>It added 147081 shares, or approximately 0.76% of this ETF. ARK Sold 242755 Shares<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Shares to balance its portfolio, but Tesla remains its largest holding target, and ARK recently raised its price target on Tesla stock to $3,000.</p><p><img src=\"https://static.tigerbbs.com/2821934ec2f5164b134ce7fbcfa02af5\" tg-width=\"840\" tg-height=\"470\"></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>Female version of Buffett Cathie Wood buys a lot of Coinbase</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\">\nFemale version of Buffett Cathie Wood buys a lot of Coinbase\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\">2021-04-15 15:13</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On April 15, ARK Investment Management (ARK), led by Cathie wood, purchased 749,205 shares of Coinbase on Wednesday, and the stock landed on Nasdaq yesterday. among<a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>Increased its holdings by 512,535 shares, accounting for 0.76% of this ETF,<a href=\"https://laohu8.com/S/ARKF\">ARK Fintech Innovation ETF</a>Added 89,589 shares, accounting for about 0.76% of this ETF,<a href=\"https://laohu8.com/S/ARKW\">ARK Next Generation Internet ETF</a>It added 147081 shares, or approximately 0.76% of this ETF. ARK Sold 242755 Shares<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Shares to balance its portfolio, but Tesla remains its largest holding target, and ARK recently raised its price target on Tesla stock to $3,000.</p><p><img src=\"https://static.tigerbbs.com/2821934ec2f5164b134ce7fbcfa02af5\" tg-width=\"840\" tg-height=\"470\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/65c311493c987421f591a33023f76079","relate_stocks":{"COIN":"Coinbase Global, Inc."},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1144322767","content_text":"4月15日讯，Cathie wood领导的方舟投资管理公司（ARK）在周三购买了749205股Coinbase的股票，该股昨日登陆纳斯达克。其中ARK Innovation ETF增持了512535股，占该ETF的0.76%，ARK Fintech Innovation ETF增持了89589股，约占该ETF的0.76% ，ARK Next Generation Internet ETF增持了147081股，约占该ETF的0.76% 。ARK出售了242755股特斯拉股份，以平衡其投资组合，但特斯拉仍是其最大的持仓标的，最近ARK将特斯拉股票的目标价格提高到3000美元。","news_type":1,"symbols_score_info":{"COIN":0.9}},"isVote":1,"tweetType":1,"viewCount":617,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":346368199,"gmtCreate":1617998685711,"gmtModify":1704705786401,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"+1","listText":"+1","text":"+1","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/346368199","repostId":"1183093361","repostType":4,"repost":{"id":"1183093361","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":1617980447,"share":"https://ttm.financial/m/news/1183093361?lang=en_US&edition=fundamental","pubTime":"2021-04-09 23:00","market":"us","language":"zh","title":"Biden seeks 8.4% increase in fiscal year 2022 budget","url":"https://stock-news.laohu8.com/highlight/detail?id=1183093361","media":"老虎资讯综合","summary":"周五晚间消息称，美国总统拜登寻求将2022财年预算增加8.4％，至1.52万亿美元。2022财政年度将于2021年10月开始。拜登的预算计划寻求在国内重点项目上的开支增加16%，这一要求是拜登数万亿美","content":"<p>It was reported on Friday night that U.S. President Joe Biden is seeking to increase the fiscal year 2022 budget by 8.4% to $1.52 trillion. Fiscal year 2022 will begin in October 2021.</p><p>Biden's budget plan seeks a 16% increase in spending on key domestic projects, a request that comes on top of Biden's multi-trillion-dollar new infrastructure spending. U.S. administration officials added that Biden's initial budget proposal did not include a $2 trillion infrastructure proposal or tax reform.</p><p>The details of the budget proposal are as follows:</p><p>$1.21 billion to address gun violence. 2. Increase spending by $14 billion on climate change to reach net-zero emissions by 2050 3. A 20% increase in the budget of the National Science Foundation, and an additional $500 million for climate and energy research. The budget seeks to increase non-defense discretionary spending by $769 billion in fiscal 2022, a 16% increase from fiscal 2021 levels; Increase defense spending by US $753 billion, an increase of 1.7% from fiscal year 2021 In addition, US Treasury Secretary Yellen said that according to US President Biden's budget, the US Internal Revenue Service's law enforcement funding will increase by US $900 million in fiscal year 2022. The budget request also includes $13.2 billion for the IRS, an increase of $1.2 billion or 10.4% from fiscal 2021.</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>Biden seeks 8.4% increase in fiscal year 2022 budget</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\">\nBiden seeks 8.4% increase in fiscal year 2022 budget\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\">2021-04-09 23:00</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>It was reported on Friday night that U.S. President Joe Biden is seeking to increase the fiscal year 2022 budget by 8.4% to $1.52 trillion. Fiscal year 2022 will begin in October 2021.</p><p>Biden's budget plan seeks a 16% increase in spending on key domestic projects, a request that comes on top of Biden's multi-trillion-dollar new infrastructure spending. U.S. administration officials added that Biden's initial budget proposal did not include a $2 trillion infrastructure proposal or tax reform.</p><p>The details of the budget proposal are as follows:</p><p>$1.21 billion to address gun violence. 2. Increase spending by $14 billion on climate change to reach net-zero emissions by 2050 3. A 20% increase in the budget of the National Science Foundation, and an additional $500 million for climate and energy research. The budget seeks to increase non-defense discretionary spending by $769 billion in fiscal 2022, a 16% increase from fiscal 2021 levels; Increase defense spending by US $753 billion, an increase of 1.7% from fiscal year 2021 In addition, US Treasury Secretary Yellen said that according to US President Biden's budget, the US Internal Revenue Service's law enforcement funding will increase by US $900 million in fiscal year 2022. The budget request also includes $13.2 billion for the IRS, an increase of $1.2 billion or 10.4% from fiscal 2021.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a06fb8b1db7037b689423e44b4d5b305","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1183093361","content_text":"周五晚间消息称，美国总统拜登寻求将2022财年预算增加8.4％，至1.52万亿美元。2022财政年度将于2021年10月开始。拜登的预算计划寻求在国内重点项目上的开支增加16%，这一要求是拜登数万亿美元的新基础设施开支的基础上提出的。美国政府官员补充表示，拜登的初步预算提案不包括2万亿美元的基础设施提案或税收改革。预算提案的细节如下：1. 21亿美元用于解决枪支暴力问题。2. 在气候变化方面增加140亿美元的支出，以在2050年前达到净零排放3. 增加20%用于国家科学基金会的预算，还有5亿美元用于气候和能源研究4. 预算寻求在2022财年增加7690亿美元的非国防可自由支配支出，比2021财年水平增加16%；增加7530亿美元的国防支出，较2021财年增加1.7%此外，美国财长耶伦表示，根据美国总统拜登的预算，美国国税局的执法经费将在2022财年增加9亿美元。预算要求还包括为国税局提供132亿美元，较2021财年增加了12亿美元或10.4%。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":625,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":346937291,"gmtCreate":1617979224213,"gmtModify":1704705620536,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/346937291","repostId":"1174854738","repostType":4,"repost":{"id":"1174854738","kind":"news","pubTimestamp":1617975823,"share":"https://ttm.financial/m/news/1174854738?lang=en_US&edition=fundamental","pubTime":"2021-04-09 21:43","market":"us","language":"zh","title":"298 cases in a single season! Why is the \"backdoor\" of US stocks so crazy?","url":"https://stock-news.laohu8.com/highlight/detail?id=1174854738","media":"e公司官微","summary":"“此前通常都是一些不太知名的企业热衷于SPAC，但是近几个月来，知名投行和顶级企业也在快速加入SPAC军团，带动了这一金融产品越来越热。”德勤中国全国上市业务组华北区主管合伙人林国恩对证券时报记者介绍","content":"<p>\"Previously, some lesser-known companies were usually keen on SPAC, but in recent months, well-known investment banks and top companies have also rapidly joined the SPAC army, which has driven this financial product to become more and more popular.\" Deloitte China Lin Guoen, managing partner of the North China Region of the National Listing Business Group, told the Securities Times reporter, \"Now more and more Deloitte customers are also consulting us about the business content of SPAC, forcing us to conduct more and more in-depth research on it.\"</p><p>Statistics show that in the first quarter of this year, the number of SPAC listings and the amount of financing in the U.S. market have exceeded that of the whole of last year. Deloitte predicts that this year's SPAC transactions will set a new record.</p><p>Against the background of the continued popularity of SPACs, Hong Kong and other places have recently reported news about studying the feasibility of SPACs. But at the same time, the United States is considered to be ushering in a time window for tightening regulations. Some investment bankers told reporters that the listing of SPACs in the future may have new variations in some regions.</p><p><b>1. SPAC heat wave</b></p><p>On April 6, Faraday Future officially submitted S4 listing documents to the US Securities and Exchange Commission. This means that Jia Yueting, who is burdened with huge debts, has taken another step closer to the door of securitization. If progress goes smoothly, according to the investment bank's forecast, Faraday Future is expected to land on Nasdaq in the second quarter, and the listing and trading process may be completed within May.</p><p>It is worth noting that Faraday Future's road to connect with the capital market is not the usual IPO channel, but a plan to merge with a certain SPAC company Property Solutions and list under the stock code \"FFIE\". Property Solutions, a special purpose acquisition company, hopes to raise more than $400 million to support the deal, which will value the company at about $3 billion after the merger.</p><p>According to industry management, as a \"special purpose acquisition company\", SPAC is a listed \"shell company\" by raising funds from mutual funds, hedge funds, etc. The company has no other substantial assets except funds. SPAC companies help them achieve their listing purposes by looking for unlisted target companies, investing in and acquiring them. If the merger and acquisition is not completed within 18 or 24 months, then the \"shell company\" will face liquidation, returning all funds in the escrow account to investors in full with interest.</p><p>Faraday Future is not the first SPAC listing in the United States. In 2019, Richard, the nearly seventy-year-old founder of Virgin Group, once rang the bronze bell for the company's listing, and his annual income was only a few hundred thousand dollars<a href=\"https://laohu8.com/S/SPCE\">Virgin Galactic</a>The listing was achieved by merging it with a SPAC company with the stock code IPOA. After ringing the bell,<a href=\"https://laohu8.com/S/SPCE\">Virgin Galactic</a>The stock price tripled in three months, and once rose from $10 to more than $60 in the following year.</p><p>In addition, the SPAC company of Li Zekai, the son of Li Ka-shing, who has established his own business, also successfully IPO on Nasdaq last year, code-named BTWN. In March,<a href=\"https://laohu8.com/S/00017\">New World Development</a>Vice Chairman and Chief Executive Officer Zheng Zhigang was also revealed to plan to set up a SPAC to list in the United States, hoping to raise up to US $400 million.</p><p>From the perspective of Li Zekai, Zheng Zhigang or Jia Yueting, both the corporate side and the capital side are catching up with the \"heat wave\" of SPAC. This listing model will explode in the U.S. stock market in 2020, and will be even hotter in 2021. Statistics show that the number of SPAC listings from 2018 to 2020 was 46, 59 and 248 respectively. In the first quarter of this year, it reached an astonishing 298, which means that the number of issuances and financing amount in the first quarter of this year alone have exceeded The whole year of last year, and this year's SPAC transactions are bound to set a new record.</p><p><img src=\"https://static.tigerbbs.com/95c4ecff8be0fd9ff5b441383a911064\" tg-width=\"635\" tg-height=\"188\" referrerpolicy=\"no-referrer\"></p><p>(Source: Deloitte quoted from SPACInsider, as of March 31, 2021, including additional financing amounts arising from the exercise of the over-allotment option)</p><p>With the help of the SPAC trend, some Chinese companies have completed listings through SPACs in recent years. With<a href=\"https://laohu8.com/S/300058\">Blue cursor</a>For example, in 2020, the company achieved a curve listing by injecting some of its overseas assets into a special purpose acquisition company listed on the New York Stock Exchange. This is the first SPAC attempt among A-share companies.<a href=\"https://laohu8.com/S/300058\">Blue cursor</a>The person in charge revealed at the time, \"During our communication, we found that there are not a few SPACs in the US market that are interested in Chinese companies.\"</p><p>Since the beginning of this year, there has also been news that Chinese autonomous driving companies such as Zhijia Technology, TuSimple, and Hesai Technology are seeking SPAC listing, but so far, no relevant response has been received from the aforementioned entities.</p><p>But what is certain is that this wave has been mapped to the domestic industrial chain ecosystem. Lin Guoen told a reporter from the Securities Times that the number of customers consulting Deloitte about SPAC operations has increased significantly. \"It turns out that some relatively unknown companies usually conduct SPACs. Recently, well-known investment banks are also rapidly joining the SPAC army, including<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>, Morgan Stanley and other well-known investment banks, as well as leading entity giants such as LV Group. Deloitte has done very little on SPACs before, mainly because of the greater risks. Since the beginning of this year, the company has also been actively studying the SPAC market ecology. \"</p><p>An investment banker in Beijing also told a reporter from the Securities Times that judging from the cases he has come into contact with, major family offices and internationally renowned investment banks are beginning to seize this part of the market. \" The enthusiasm of Chinese companies and institutions to participate in SPACs is increasing, and more and more investment institutions have publicly expressed their services. \"</p><p><b>2. Capital blind box</b></p><p>In 2020, SPACs suddenly emerged in the U.S. capital market. A total of 248 SPACs were listed, accounting for 52.7% of the number of U.S. stock IPOs that year. It became a milestone in the capital market and was called the \"first year of SPACs\" by the market. This has attracted other leading markets around the world to follow suit. In February of this year, news came out in the market that the Hong Kong Stock Exchange was conducting research on the listing of SPACs, and the stock price of the Hong Kong Stock Exchange recorded a rise that day.</p><p>The aforementioned investment banker analyzed, \"The core reason why SPAC is hot is mainly due to two reasons. On the one hand, the time period is short, and the listing financing can be realized in as short as 3 months, which is very attractive to issuers and investors. On the other hand, the financing success rate and valuation are relatively high, because SPAC only needs the consent of both parties to the acquisition, and the price is negotiated, and there are no other uncertain factors.\"</p><p>Since there are natural advantages in SPAC listing, why didn't it suddenly receive attention until the past two years? In the view of the aforementioned investment bankers, on the one hand, it is related to the fact that the low interest rate environment in the past two years has significantly reduced the time cost of investing in SPACs, and the more direct reason is the speed of listing and financing.</p><p>\"After all, for companies that want to go public, SPAC is by no means a perfect listing model. After all, after the acquisition is completed, the property rights and control rights of the founder of the target company will be sharply diluted, which has led to so many years after the birth of SPAC. Over the years, any company that can go public on the IPO path is reluctant to go public through the SPAC model. However, under the influence of the epidemic, the revenue and valuation of some companies that hope to seek listing have undergone major changes. Whether they want an intangible IPO or a faster realization model has become a new topic before them. \"The person analyzed.</p><p>Although the SPAC model has advantages, the related risks are accompanied by these advantages. \" First of all, companies listed through SPACs often do not meet the requirements of traditional IPOs, and some companies even only have a preliminary idea, even reaching the \"PPT stage\". In addition, the current SPAC market is hot and there is a bubble in valuation, which will undoubtedly bring hidden dangers to companies and investors. \"<a href=\"https://laohu8.com/S/601818\">China Everbright Bank</a>Zhou Maohua, a financial analyst, told reporters.</p><p>In the view of the aforementioned investment bankers, \"The essence of SPAC is that a shell company completes an IPO and raises funds through a special channel allowed by U.S. regulation, and then uses the funds to acquire a target company with actual business. The listing of the target company is realized by grafting flowers and trees. In a sense, a shell company listed on SPAC is more like a blind box in the investment circle, because investors will not know what assets they ultimately hold before the SPAC completes the merger.\"</p><p>Lin Guoen believes that although there are asset injection operations, the shell buying operations of SPAC and A-share market are completely different. \" At present, the SPAC model is still only operating in a few mature capital markets such as the United States. \"</p><p><b>3. Will the tightening window come?</b></p><p>It is worth noting that under the background of the continued popularity of SPACs, on the one hand, some exchanges plan to introduce this model to enhance market attractiveness; But on the other hand, due to the increase in associated risks and bubbles, U.S. regulators may also be opening a window of time to tighten monitoring of SPACs.</p><p>According to the latest reports from overseas media, U.S. regulators have sent letters to major Wall Street banks, requesting information about SPAC transactions and requiring banks to voluntarily provide this information, which has not yet reached the level of formal investigation.</p><p>\"From the perspective of industrial laws, financial products have been surviving and developing within the quadrant permitted by policies and determined by market needs. The higher the speculation and risk of financial products, the greater the restrictions and constraints they will be subject to policies. \"Zhou Maohua told reporters.</p><p>According to the aforementioned investment bankers, the current market attitude towards SPACs is somewhat divided. On the one hand, this model is being competed by companies and institutions. On the other hand, some market voices believe that it is more like the product of this quick success and instant benefit. It is a corporate financing solution hoarded in the \"big water release era\", and it is not ruled out that it will become a new one. The round of \"King of Bubbles\". \" Judging from its future trend, it still depends on the regulatory attitude of various places. For example, if the Hong Kong Stock Exchange believes that SPAC is feasible, it will inevitably be more favored by Chinese technology companies, which may trigger a new round of listing boom. But at present, everything is still unknown. \"</p>","source":"lsy1568961593943","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>298 cases in a single season! Why is the \"backdoor\" of US stocks so crazy?</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\">\n298 cases in a single season! Why is the \"backdoor\" of US stocks so crazy?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">e公司官微</strong><span class=\"h-time small\">2021-04-09 21:43</span>\n</p>\n</h4>\n</header>\n<article>\n<p>\"Previously, some lesser-known companies were usually keen on SPAC, but in recent months, well-known investment banks and top companies have also rapidly joined the SPAC army, which has driven this financial product to become more and more popular.\" Deloitte China Lin Guoen, managing partner of the North China Region of the National Listing Business Group, told the Securities Times reporter, \"Now more and more Deloitte customers are also consulting us about the business content of SPAC, forcing us to conduct more and more in-depth research on it.\"</p><p>Statistics show that in the first quarter of this year, the number of SPAC listings and the amount of financing in the U.S. market have exceeded that of the whole of last year. Deloitte predicts that this year's SPAC transactions will set a new record.</p><p>Against the background of the continued popularity of SPACs, Hong Kong and other places have recently reported news about studying the feasibility of SPACs. But at the same time, the United States is considered to be ushering in a time window for tightening regulations. Some investment bankers told reporters that the listing of SPACs in the future may have new variations in some regions.</p><p><b>1. SPAC heat wave</b></p><p>On April 6, Faraday Future officially submitted S4 listing documents to the US Securities and Exchange Commission. This means that Jia Yueting, who is burdened with huge debts, has taken another step closer to the door of securitization. If progress goes smoothly, according to the investment bank's forecast, Faraday Future is expected to land on Nasdaq in the second quarter, and the listing and trading process may be completed within May.</p><p>It is worth noting that Faraday Future's road to connect with the capital market is not the usual IPO channel, but a plan to merge with a certain SPAC company Property Solutions and list under the stock code \"FFIE\". Property Solutions, a special purpose acquisition company, hopes to raise more than $400 million to support the deal, which will value the company at about $3 billion after the merger.</p><p>According to industry management, as a \"special purpose acquisition company\", SPAC is a listed \"shell company\" by raising funds from mutual funds, hedge funds, etc. The company has no other substantial assets except funds. SPAC companies help them achieve their listing purposes by looking for unlisted target companies, investing in and acquiring them. If the merger and acquisition is not completed within 18 or 24 months, then the \"shell company\" will face liquidation, returning all funds in the escrow account to investors in full with interest.</p><p>Faraday Future is not the first SPAC listing in the United States. In 2019, Richard, the nearly seventy-year-old founder of Virgin Group, once rang the bronze bell for the company's listing, and his annual income was only a few hundred thousand dollars<a href=\"https://laohu8.com/S/SPCE\">Virgin Galactic</a>The listing was achieved by merging it with a SPAC company with the stock code IPOA. After ringing the bell,<a href=\"https://laohu8.com/S/SPCE\">Virgin Galactic</a>The stock price tripled in three months, and once rose from $10 to more than $60 in the following year.</p><p>In addition, the SPAC company of Li Zekai, the son of Li Ka-shing, who has established his own business, also successfully IPO on Nasdaq last year, code-named BTWN. In March,<a href=\"https://laohu8.com/S/00017\">New World Development</a>Vice Chairman and Chief Executive Officer Zheng Zhigang was also revealed to plan to set up a SPAC to list in the United States, hoping to raise up to US $400 million.</p><p>From the perspective of Li Zekai, Zheng Zhigang or Jia Yueting, both the corporate side and the capital side are catching up with the \"heat wave\" of SPAC. This listing model will explode in the U.S. stock market in 2020, and will be even hotter in 2021. Statistics show that the number of SPAC listings from 2018 to 2020 was 46, 59 and 248 respectively. In the first quarter of this year, it reached an astonishing 298, which means that the number of issuances and financing amount in the first quarter of this year alone have exceeded The whole year of last year, and this year's SPAC transactions are bound to set a new record.</p><p><img src=\"https://static.tigerbbs.com/95c4ecff8be0fd9ff5b441383a911064\" tg-width=\"635\" tg-height=\"188\" referrerpolicy=\"no-referrer\"></p><p>(Source: Deloitte quoted from SPACInsider, as of March 31, 2021, including additional financing amounts arising from the exercise of the over-allotment option)</p><p>With the help of the SPAC trend, some Chinese companies have completed listings through SPACs in recent years. With<a href=\"https://laohu8.com/S/300058\">Blue cursor</a>For example, in 2020, the company achieved a curve listing by injecting some of its overseas assets into a special purpose acquisition company listed on the New York Stock Exchange. This is the first SPAC attempt among A-share companies.<a href=\"https://laohu8.com/S/300058\">Blue cursor</a>The person in charge revealed at the time, \"During our communication, we found that there are not a few SPACs in the US market that are interested in Chinese companies.\"</p><p>Since the beginning of this year, there has also been news that Chinese autonomous driving companies such as Zhijia Technology, TuSimple, and Hesai Technology are seeking SPAC listing, but so far, no relevant response has been received from the aforementioned entities.</p><p>But what is certain is that this wave has been mapped to the domestic industrial chain ecosystem. Lin Guoen told a reporter from the Securities Times that the number of customers consulting Deloitte about SPAC operations has increased significantly. \"It turns out that some relatively unknown companies usually conduct SPACs. Recently, well-known investment banks are also rapidly joining the SPAC army, including<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>, Morgan Stanley and other well-known investment banks, as well as leading entity giants such as LV Group. Deloitte has done very little on SPACs before, mainly because of the greater risks. Since the beginning of this year, the company has also been actively studying the SPAC market ecology. \"</p><p>An investment banker in Beijing also told a reporter from the Securities Times that judging from the cases he has come into contact with, major family offices and internationally renowned investment banks are beginning to seize this part of the market. \" The enthusiasm of Chinese companies and institutions to participate in SPACs is increasing, and more and more investment institutions have publicly expressed their services. \"</p><p><b>2. Capital blind box</b></p><p>In 2020, SPACs suddenly emerged in the U.S. capital market. A total of 248 SPACs were listed, accounting for 52.7% of the number of U.S. stock IPOs that year. It became a milestone in the capital market and was called the \"first year of SPACs\" by the market. This has attracted other leading markets around the world to follow suit. In February of this year, news came out in the market that the Hong Kong Stock Exchange was conducting research on the listing of SPACs, and the stock price of the Hong Kong Stock Exchange recorded a rise that day.</p><p>The aforementioned investment banker analyzed, \"The core reason why SPAC is hot is mainly due to two reasons. On the one hand, the time period is short, and the listing financing can be realized in as short as 3 months, which is very attractive to issuers and investors. On the other hand, the financing success rate and valuation are relatively high, because SPAC only needs the consent of both parties to the acquisition, and the price is negotiated, and there are no other uncertain factors.\"</p><p>Since there are natural advantages in SPAC listing, why didn't it suddenly receive attention until the past two years? In the view of the aforementioned investment bankers, on the one hand, it is related to the fact that the low interest rate environment in the past two years has significantly reduced the time cost of investing in SPACs, and the more direct reason is the speed of listing and financing.</p><p>\"After all, for companies that want to go public, SPAC is by no means a perfect listing model. After all, after the acquisition is completed, the property rights and control rights of the founder of the target company will be sharply diluted, which has led to so many years after the birth of SPAC. Over the years, any company that can go public on the IPO path is reluctant to go public through the SPAC model. However, under the influence of the epidemic, the revenue and valuation of some companies that hope to seek listing have undergone major changes. Whether they want an intangible IPO or a faster realization model has become a new topic before them. \"The person analyzed.</p><p>Although the SPAC model has advantages, the related risks are accompanied by these advantages. \" First of all, companies listed through SPACs often do not meet the requirements of traditional IPOs, and some companies even only have a preliminary idea, even reaching the \"PPT stage\". In addition, the current SPAC market is hot and there is a bubble in valuation, which will undoubtedly bring hidden dangers to companies and investors. \"<a href=\"https://laohu8.com/S/601818\">China Everbright Bank</a>Zhou Maohua, a financial analyst, told reporters.</p><p>In the view of the aforementioned investment bankers, \"The essence of SPAC is that a shell company completes an IPO and raises funds through a special channel allowed by U.S. regulation, and then uses the funds to acquire a target company with actual business. The listing of the target company is realized by grafting flowers and trees. In a sense, a shell company listed on SPAC is more like a blind box in the investment circle, because investors will not know what assets they ultimately hold before the SPAC completes the merger.\"</p><p>Lin Guoen believes that although there are asset injection operations, the shell buying operations of SPAC and A-share market are completely different. \" At present, the SPAC model is still only operating in a few mature capital markets such as the United States. \"</p><p><b>3. Will the tightening window come?</b></p><p>It is worth noting that under the background of the continued popularity of SPACs, on the one hand, some exchanges plan to introduce this model to enhance market attractiveness; But on the other hand, due to the increase in associated risks and bubbles, U.S. regulators may also be opening a window of time to tighten monitoring of SPACs.</p><p>According to the latest reports from overseas media, U.S. regulators have sent letters to major Wall Street banks, requesting information about SPAC transactions and requiring banks to voluntarily provide this information, which has not yet reached the level of formal investigation.</p><p>\"From the perspective of industrial laws, financial products have been surviving and developing within the quadrant permitted by policies and determined by market needs. The higher the speculation and risk of financial products, the greater the restrictions and constraints they will be subject to policies. \"Zhou Maohua told reporters.</p><p>According to the aforementioned investment bankers, the current market attitude towards SPACs is somewhat divided. On the one hand, this model is being competed by companies and institutions. On the other hand, some market voices believe that it is more like the product of this quick success and instant benefit. It is a corporate financing solution hoarded in the \"big water release era\", and it is not ruled out that it will become a new one. The round of \"King of Bubbles\". \" Judging from its future trend, it still depends on the regulatory attitude of various places. For example, if the Hong Kong Stock Exchange believes that SPAC is feasible, it will inevitably be more favored by Chinese technology companies, which may trigger a new round of listing boom. But at present, everything is still unknown. \"</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/ZTabt-o7Gu6OH_eLRoa-vw\">e公司官微</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a5ec2b4fc6bf148a0d0440480c91e44c","relate_stocks":{},"source_url":"https://mp.weixin.qq.com/s/ZTabt-o7Gu6OH_eLRoa-vw","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1174854738","content_text":"“此前通常都是一些不太知名的企业热衷于SPAC，但是近几个月来，知名投行和顶级企业也在快速加入SPAC军团，带动了这一金融产品越来越热。”德勤中国全国上市业务组华北区主管合伙人林国恩对证券时报记者介绍，“现在德勤越来越多的客户也在向我们咨询关于SPAC方面的业务内容，倒逼我们对其越来越深入的进行研究。“\n统计数据显示，今年第一季度美国市场SPAC上市数量和融资额都已经超越了去年全年。德勤方面预计，今年的SPAC交易将会刷下新纪录。\nSPAC持续火热的背景下，香港等地近期也传出研究SPAC可行性的消息。但与此同时，美国却被认为正在迎来监管收严的时间窗口。有投行人士对记者分析认为，未来SPAC上市或将在部分地区出现新的变奏。\n1、SPAC热浪\n4月6日，法拉第未来正式向美国证监会递交S4上市文件。这意味着，身背巨大债务的贾跃亭，旗下资产距离证券化的大门又迈进了一步。倘若进展顺利，按照投行的预计，法拉第未来有望在二季度登陆纳斯达克，上市交易流程或将在5月份之内完成。\n值得注意的是，法拉第未来所走的对接资本市场之路并非通常的IPO通道，而是计划与某SPAC公司Property Solutions合并交易，并以股票代码“FFIE”上市。Property Solutions是一家特殊目的收购公司，它希望筹集4亿多美元用来支持交易，合并之后公司的估值约为30亿美元。\n按照业内管理，作为一种“特殊目的收购公司”，SPAC由共同基金、对冲基金等募集资金而组建上市的“空壳公司”，公司除资金外没有其他实质性资产。SPAC公司通过寻找未上市的目标公司，对其投资并购，帮助其实现上市目的。如果18个月或24个月内没有完成并购，那么这家“空壳公司”将面临清盘，将所有托管账户内的资金附带利息全额归还给投资者。\n法拉第未来并非美国SPAC上市首例。2019年，年近古稀的维珍集团创始人理查德就曾敲响公司上市的铜钟，而每年收入都只有几十万美元的维珍银河的上市，就是通过将其与一家股票代码为IPOA的SPAC公司合并实现的。敲钟后，维珍银河的股价在三个月内翻了3倍，并在之后的一年多中从10美元一度涨到60多美元。\n此外，已经自立门户的李嘉诚之子李泽楷的SPAC公司也在去年成功在纳斯达克IPO了，代号BTWN。今年3月，新世界发展副主席兼行政总裁郑志刚也被爆出计划成立SPAC在美上市，希望筹集最多4亿美元资金。\n从李泽楷、郑志刚还是贾跃亭来看，无论是企业方还是资金方，都在赶潮SPAC“热浪”。这一上市模式在美股市场在2020年呈爆炸式增长，2021年更为炙手可热。统计数据显示，SPAC上市数量2018年到2020年分别为46宗、59宗和248宗，今年首季则达到了惊人的298宗，这意味着今年仅仅一季度发行数量和融资额都已经超越了去年全年，同时今年的SPAC交易必然会刷下新纪录。\n\n （资料来源：德勤援引自SPACInsider，截至2021年3月31日，包括行使超额配售权带来的额外融资金额）\n借助SPAC风潮，近年来也有部分中国公司通过SPAC完成上市。以蓝色光标为例，2020年，公司通过将其部分海外资产注入一家在纽交所上市的特殊目的收购公司，实现了曲线上市，这是A股公司中首例SPAC尝试。蓝色光标负责人当时透露，“在我们沟通的过程中发现，美国市场SPAC对于中国公司感兴趣的不在少数”。\n而今年以来，也传出智加科技、图森未来、禾赛科技等中国自动驾驶公司在寻求SPAC上市的消息，不过截至目前，尚未得到前述主体的相关回应。\n但可以肯定的还是，这一浪潮已经映射到国内的产业链条生态圈。林国恩对证券时报记者介绍，现在向德勤咨询SPAC运作的客户明显增多。“原来通常是一些相对不知名的企业进行SPAC，近来知名投行也在快速加入SPAC大军，既包括高盛、大摩等知名投行，也包括LV集团等头部实体巨头。德勤此前在SPAC方面做得很少，主要原因是因为风险较大。而今年以来，公司也在积极研究SPAC市场生态。”\n北京某投行人士也向证券时报记者介绍，从其接触的案例来看，各大家族办公室、国际知名投行在纷纷开始抢占这部分市场。”中国公司和机构参与SPAC的热情都在增加，目前已有越来越多的投资机构公开表示提供服务。“\n2、资本盲盒\n2020年，SPAC在美国资本市场异军突起，共有248家SPAC上市，占当年美股IPO数量的52.7%，成为资本市场的里程碑，是年被市场称为“SPAC元年”。这吸引了全球其他头部市场的跟进。今年2月，市场传出消息，港交所正在对SPAC上市进行研究，当日港交所股价录得上扬。\n前述投行人士分析说，“SPAC炙手可热的核心原因，主要在于两大原因。一方面，所用时间周期短，最短3个月就可以实现上市融资，这对于发行人和投资人而言很有吸引力。另一方面，融资成功率和估值都相对较高，因为SPAC只需要收购双方同意即可，价格也是商量好的，没有其他的不确定性因素。”\n既然SPAC上市存在天然优势，为什么直到这两年才突然受重视呢？在前述投行人士看来，一方面与这两年的低利率环境让投资SPAC的时间成本大幅降低有关，同时更直接的原因还是在于上市融资的神速。\n”毕竟对于想要上市的公司而言，SPAC绝非完美无缺的上市模式，毕竟在收购完成之后，并购标的公司创始人的财产权与控制权会被急剧稀释，这导致在SPAC诞生后的这么多年来，但凡能走IPO道路上市的公司，都不愿意通过SPAC模式上市。但是疫情影响下，部分希望谋求上市的企业营收和估值都出现了较大变化，到底是要一个摸不着的IPO，还是一个更快的变现模式，便成为一个摆在面前的新课题。“该人士分析说。\nSPAC模式虽然存在优势，但是相关风险也正是与这些优势相伴而生的。”首先，通过SPAC上市的公司常常并没有达到传统IPO的要求，甚至有的公司只是有了一个初步想法，甚至还有到“PPT阶段”。此外，当前SPAC市场火爆，估值存在泡沫，这无疑也会对公司和投资者带来隐患。“光大银行金融行业分析师周茂华对记者分析说。\n在前述投行人士看来，“SPAC的本质，就是一家空壳公司通过一个美国监管允许的特殊渠道完成IPO并且募集到资金，然后再用这笔资金去收购一家有实际业务的目标公司。借道移花接木的方式实现目标公司的上市。从某种意义上说，SPAC上市的空壳公司更像一个投资圈的盲盒，因为在SPAC完成并购前，投资者都不会知道最终持有的是什么资产。“\n林国恩认为，虽然都有资产注入运作，但是SPAC与A股市场的买壳操作还是完全不同的。”目前来看，SPAC模式仍在只是在美国等少数成熟资本市场运行。“\n3、收紧窗口会否到来？\n值得注意的是，SPAC持续火爆的背景下，一方面使部分交易所计划引入该模式来提升市场吸引力；但是另一方面，由于伴生风险和泡沫的加大，美国监管方面或也在开启对SPAC收紧监控的时间之窗。\n根据海外媒体最新报道，美监管方面已经致函华尔街各大银行，要求了解SPAC交易信息，要求银行自愿提供这些信息，尚未达到正式调查的程度。\n”从产业规律来看，金融产品一直在政策允许和市场需要确定的象限内生存和发展。金融产品的投机性和风险性越高，受到政策的限制和约束往往会越大。“周茂华对记者分析说。\n前述投行人士介绍，目前市场对于SPAC的态度有些分化。一方面，这种模式遭到公司和机构的竞逐，另一方面也有市场声音认为它更像是这个急功近利的产物，是‘大放水时代’囤积出来的企业融资解决方案，不排除会成为新一轮的“泡沫之王”。”从其未来趋势来看，依然取决于各地的监管态度。比如，倘若港交所认为SPAC可行，那么必然会更受中国科技公司的宠爱，进而可能引发新一轮上市热潮。但是从目前来看，一切仍是未知数。“","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":658,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":348185967,"gmtCreate":1617894013359,"gmtModify":1704704558037,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/348185967","repostId":"1118102690","repostType":4,"repost":{"id":"1118102690","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":1617891815,"share":"https://ttm.financial/m/news/1118102690?lang=en_US&edition=fundamental","pubTime":"2021-04-08 22:23","market":"us","language":"zh","title":"Tesla's short-term changes have pulled up, now up more than 2%","url":"https://stock-news.laohu8.com/highlight/detail?id=1118102690","media":"老虎资讯综合","summary":"4月8日，特斯拉短线异动拉升，现涨超2%。2021年第一季度，特斯拉全电动汽车在德国的注册量出现了大幅增长，与2020年同期相比飙升了83%。摩根士丹利认为，特斯拉可以从美国政府的基础设施一揽子计划中","content":"<p>April 8th,<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Short-term changes pulled up, and now it is up more than 2%. In the first quarter of 2021, Tesla's all-electric vehicle registrations in Germany saw a huge increase, surging 83% compared to the same period in 2020.</p><p>Morgan Stanley believes Tesla could benefit disproportionately from the U.S. government's infrastructure package, and investors in the auto industry could risk getting out if they don't own shares in Tesla. Morgan Stanley currently gives Tesla an \"outperform\" rating and a price target of $880.</p><p><img src=\"https://static.tigerbbs.com/f2422e6625bc43463053664abe709984\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></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>Tesla's short-term changes have pulled up, now up more than 2%</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla's short-term changes have pulled up, now up more than 2%\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\">2021-04-08 22:23</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>April 8th,<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Short-term changes pulled up, and now it is up more than 2%. In the first quarter of 2021, Tesla's all-electric vehicle registrations in Germany saw a huge increase, surging 83% compared to the same period in 2020.</p><p>Morgan Stanley believes Tesla could benefit disproportionately from the U.S. government's infrastructure package, and investors in the auto industry could risk getting out if they don't own shares in Tesla. Morgan Stanley currently gives Tesla an \"outperform\" rating and a price target of $880.</p><p><img src=\"https://static.tigerbbs.com/f2422e6625bc43463053664abe709984\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/8350896f4f33c86bc28f200b67ab82b4","relate_stocks":{"TSLA":"特斯拉"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118102690","content_text":"4月8日，特斯拉短线异动拉升，现涨超2%。2021年第一季度，特斯拉全电动汽车在德国的注册量出现了大幅增长，与2020年同期相比飙升了83%。摩根士丹利认为，特斯拉可以从美国政府的基础设施一揽子计划中获得不成比例的好处，而汽车行业的投资者如果不持有特斯拉的股票，可能会面临出局的风险。摩根士丹利目前给予特斯拉“跑赢大盘”的评级，目标价为880美元。","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":658,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":348182957,"gmtCreate":1617893975679,"gmtModify":1704704556903,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/348182957","repostId":"1159686815","repostType":4,"repost":{"id":"1159686815","kind":"news","pubTimestamp":1617893505,"share":"https://ttm.financial/m/news/1159686815?lang=en_US&edition=fundamental","pubTime":"2021-04-08 22:51","market":"other","language":"zh","title":"The U.S. dollar \"slaps the face\" Wall Street: it rose 3.6% in the first quarter, the largest increase in three years","url":"https://stock-news.laohu8.com/highlight/detail?id=1159686815","media":"华尔街见闻","summary":"市场发现很难判断美元走势的一个原因是，有两股相反的力量在推动美元走势。\n\n作为衡量美元在国际外汇市场汇率变化的风向标，今年一季度，美元指数累计上涨3.6%，逆转此前连续3个季度的下跌趋势，成为自201","content":"<p>One reason markets are finding it difficult to judge the dollar's move is that there are two opposing forces driving the dollar. As a vane to measure the exchange rate changes of the US dollar in the international foreign exchange market, in the first quarter of this year, the US Dollar Index rose by 3.6%, reversing the previous three consecutive quarters of downward trend and becoming the best performance since 2018.</p><p>However, the mainstream voice on Wall Street is still bearish on the dollar.</p><p><b>A strong dollar</b></p><p>In the first quarter of this year, the exchange rate of the yen against the US dollar rose by 7.2%. In March, the exchange rate of the yen against the US dollar almost became the worst month in nearly five years. In the same month, the exchange rate of the euro against the US dollar recorded its biggest decline in three years, and the exchange rate of the yuan against the US dollar recorded its biggest decline since March 2020.</p><p>But this is a blow to Wall Street analysts who have been bearish on the dollar.</p><p>The strength of the U.S. dollar so far this year has analysts puzzled, as their consensus in 2021 is that the U.S. dollar, the global reserve currency, should depreciate by 3% against the backdrop of a strong global economic recovery.</p><p>They believe that:</p><p>A loose monetary environment in the United States and a strong global economic recovery will weigh on the dollar by attracting companies and investors to bet on overseas markets, curbing demand for the dollar as a safe-haven investment. One of the biggest risks this year is that every sell-side report is saying the same thing that the dollar will weaken, said Tim Ash, senior emerging markets strategist at BlueBay Asset Management.</p><p>However, this consensus has been shaken by the sharp rise in inflation expectations, especially after the Biden administration launched a $1.9 trillion stimulus plan.</p><p>Rising inflation expectations have triggered a recent sell-off in U.S. bonds, pushing up U.S. bond yields. Jim Leaviss, chief investment officer of the public fixed income department of M&G Investments, said that in markets such as Japan, U.S. bonds with a yield of 1.6% have suddenly become attractive.</p><p><b>Two opposite forces</b></p><p>Regarding the trend of the US dollar,<a href=\"https://laohu8.com/S/DB\">Deutsche Bank</a>Has adjusted its forecast several times, which is also a sign of a shift in the market.</p><p>Its head of global currency strategy, George Saravelos, entered 2021 expecting the dollar to fall, with the euro rising to $1.25 by June and $1.30 by the end of 2021. In mid-January, he said that \"the risk in the coming months is leaning towards a stronger dollar,\" and by the end of February, he said that it was time to sell the dollar again.</p><p>One reason markets are finding it difficult to judge the dollar's move is that there are two opposing forces driving the dollar.</p><p><a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>Zach Pandl, co-head of global foreign exchange, interest rates and emerging markets strategy, stuck to the bank's pessimistic view on the dollar, expecting the euro to reach $1.28 by the end of the year, 10 cents above current levels.</p><p>I do have some concerns about the near-term outlook... but we stick to the bearish view because I think it is more likely that the dollar will weaken in the coming months.<a href=\"https://laohu8.com/S/C\">Citigroup</a>Forex analyst Calvin Tse also stuck to his bearish view on the dollar, believing the dollar could fall as much as 20%.</p><p>We believe that the long-term outlook for the US dollar has not changed. If faster-than-expected vaccine rollouts, a recovery in global trade and commodity prices, and improving global economic growth are driving the rise in U.S. bond yields, then the dollar may still be weaker. Some investors believe that as the U.S. economic recovery outperforms other countries, coupled with the nearly $1.9 trillion stimulus plan launched by the Biden administration, the dollar has strengthened.</p><p>Where the dollar moves next depends largely on whether the Federal Reserve will react to a more aggressive inflation outlook. Last month, the Federal Reserve pledged to tolerate climbing inflation and keep interest rates near zero until at least 2024.</p><p>Nevertheless, both the bond market and the money market are conservative about the Fed's view on inflation, and the money market is already preparing for a rate hike as soon as next year.</p>","source":"highlight_wallstreetcn","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The U.S. dollar \"slaps the face\" Wall Street: it rose 3.6% in the first quarter, the largest increase in three years</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe U.S. dollar \"slaps the face\" Wall Street: it rose 3.6% in the first quarter, the largest increase in three years\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\">2021-04-08 22:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p>One reason markets are finding it difficult to judge the dollar's move is that there are two opposing forces driving the dollar. As a vane to measure the exchange rate changes of the US dollar in the international foreign exchange market, in the first quarter of this year, the US Dollar Index rose by 3.6%, reversing the previous three consecutive quarters of downward trend and becoming the best performance since 2018.</p><p>However, the mainstream voice on Wall Street is still bearish on the dollar.</p><p><b>A strong dollar</b></p><p>In the first quarter of this year, the exchange rate of the yen against the US dollar rose by 7.2%. In March, the exchange rate of the yen against the US dollar almost became the worst month in nearly five years. In the same month, the exchange rate of the euro against the US dollar recorded its biggest decline in three years, and the exchange rate of the yuan against the US dollar recorded its biggest decline since March 2020.</p><p>But this is a blow to Wall Street analysts who have been bearish on the dollar.</p><p>The strength of the U.S. dollar so far this year has analysts puzzled, as their consensus in 2021 is that the U.S. dollar, the global reserve currency, should depreciate by 3% against the backdrop of a strong global economic recovery.</p><p>They believe that:</p><p>A loose monetary environment in the United States and a strong global economic recovery will weigh on the dollar by attracting companies and investors to bet on overseas markets, curbing demand for the dollar as a safe-haven investment. One of the biggest risks this year is that every sell-side report is saying the same thing that the dollar will weaken, said Tim Ash, senior emerging markets strategist at BlueBay Asset Management.</p><p>However, this consensus has been shaken by the sharp rise in inflation expectations, especially after the Biden administration launched a $1.9 trillion stimulus plan.</p><p>Rising inflation expectations have triggered a recent sell-off in U.S. bonds, pushing up U.S. bond yields. Jim Leaviss, chief investment officer of the public fixed income department of M&G Investments, said that in markets such as Japan, U.S. bonds with a yield of 1.6% have suddenly become attractive.</p><p><b>Two opposite forces</b></p><p>Regarding the trend of the US dollar,<a href=\"https://laohu8.com/S/DB\">Deutsche Bank</a>Has adjusted its forecast several times, which is also a sign of a shift in the market.</p><p>Its head of global currency strategy, George Saravelos, entered 2021 expecting the dollar to fall, with the euro rising to $1.25 by June and $1.30 by the end of 2021. In mid-January, he said that \"the risk in the coming months is leaning towards a stronger dollar,\" and by the end of February, he said that it was time to sell the dollar again.</p><p>One reason markets are finding it difficult to judge the dollar's move is that there are two opposing forces driving the dollar.</p><p><a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>Zach Pandl, co-head of global foreign exchange, interest rates and emerging markets strategy, stuck to the bank's pessimistic view on the dollar, expecting the euro to reach $1.28 by the end of the year, 10 cents above current levels.</p><p>I do have some concerns about the near-term outlook... but we stick to the bearish view because I think it is more likely that the dollar will weaken in the coming months.<a href=\"https://laohu8.com/S/C\">Citigroup</a>Forex analyst Calvin Tse also stuck to his bearish view on the dollar, believing the dollar could fall as much as 20%.</p><p>We believe that the long-term outlook for the US dollar has not changed. If faster-than-expected vaccine rollouts, a recovery in global trade and commodity prices, and improving global economic growth are driving the rise in U.S. bond yields, then the dollar may still be weaker. Some investors believe that as the U.S. economic recovery outperforms other countries, coupled with the nearly $1.9 trillion stimulus plan launched by the Biden administration, the dollar has strengthened.</p><p>Where the dollar moves next depends largely on whether the Federal Reserve will react to a more aggressive inflation outlook. Last month, the Federal Reserve pledged to tolerate climbing inflation and keep interest rates near zero until at least 2024.</p><p>Nevertheless, both the bond market and the money market are conservative about the Fed's view on inflation, and the money market is already preparing for a rate hike as soon as next year.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3627048\">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/a8ad35190f75132817724b1baf836f80","relate_stocks":{},"source_url":"https://wallstreetcn.com/articles/3627048","is_english":false,"share_image_url":"https://static.laohu8.com/cc96873d3d23ee6ac10685520df9c100","article_id":"1159686815","content_text":"市场发现很难判断美元走势的一个原因是，有两股相反的力量在推动美元走势。\n\n作为衡量美元在国际外汇市场汇率变化的风向标，今年一季度，美元指数累计上涨3.6%，逆转此前连续3个季度的下跌趋势，成为自2018年以来表现最好的一次。\n不过华尔街的主流声音依旧是看空美元。\n强势的美元\n今年第一季度，日元兑美元汇率上涨7.2%，3月份日元兑美元汇率近乎成为近5年来最糟糕的一个月。同月，欧元兑美元汇率创下3年来最大跌幅，人民币兑美元汇率则创下2020年3月以来的最大跌幅。\n不过这对那些一直看空美元的华尔街分析师来说算是当头一棒。\n今年以来美元的强势让分析师感到疑惑，因为他们在2021年的共识是：在全球经济强劲复苏的背景下，作为全球储备货币的美元应该贬值3%。\n他们认为：\n\n 美国宽松的货币环境和全球强劲的经济复苏将吸引企业和投资者押注海外市场，抑制对美元作为避险投资的需求，从而对美元构成压力。\n\nBlueBay Asset Management高级新兴市场策略师Tim Ash表示，今年最大的风险之一是，每一份卖方报告都在说同样的话，即美元将走软。\n不过，通胀预期的大幅走高，尤其是拜登政府推出1.9万亿美元的刺激计划后，这一共识已经动摇。\n通胀预期的上扬引发了近期美债的抛售，推高了美债收益率，M&G 投资公司公共固定收益部门首席投资官Jim Leaviss说，在日本等市场，收益率达1.6%的美债突然变得有吸引力。\n两股相反的力量\n对于美元走势，德意志银行已多次调整其预测，这也是市场转变的迹象。\n其全球货币策略主管George Saravelos在进入2021年时预计美元将下跌，欧元兑美元汇率将在6月前升至1.25美元，2021年底升至1.30美元。1月中旬，他表示，“未来几个月的风险倾向于美元走强”，到2月底，他又表示，是时候再次抛售美元了。\n市场发现很难判断美元走势的一个原因是，有两股相反的力量在推动美元走势。\n高盛全球外汇、利率和新兴市场策略联席主管Zach Pandl坚持该行对美元的悲观看法，预计到今年年底，欧元兑美元汇率将达到1.28美元，比当前水平高出10美分。\n\n 我对近期的前景确实有些担忧……但我们坚持看空的观点，因为我认为，美元在未来几个月走弱的可能性更大。\n\n花旗外汇分析师Calvin Tse也坚持他对美元的看跌观点，认为美元可能下跌多达20%。\n\n 我们认为，美元的长期前景没有改变。如果推动美债收益率上升的原因是疫苗推出速度快于预期、全球贸易和大宗商品价格复苏以及全球经济增长好转，那么美元可能仍会走软。\n\n而一些投资者认为，随着美国经济复苏的表现优于其它国家，加上拜登政府推出的近1.9万亿美元刺激计划，推动了美元走强。\n美元接下来的走势很大程度上取决于美联储是否会对更为激进的通胀前景做出反应。上个月，美联储承诺将容忍通胀攀升，并将利率维持在近零水平至少到2024年。\n虽然如此，债券市场和货币市场都对美联储对通胀的看法持保守态度，货币市场已经在为最快明年加息做好准备。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":703,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":371130725,"gmtCreate":1618918693467,"gmtModify":1704716839497,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"6666","listText":"6666","text":"6666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/371130725","repostId":"1184442046","repostType":4,"repost":{"id":"1184442046","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":1618917047,"share":"https://ttm.financial/m/news/1184442046?lang=en_US&edition=fundamental","pubTime":"2021-04-20 19:10","market":"us","language":"zh","title":"Li Xiang: The self-developed autonomous driving system can compete with Huawei and Tesla next year","url":"https://stock-news.laohu8.com/highlight/detail?id=1184442046","media":"老虎资讯综合","summary":"4月20日，$理想汽车(LI)$李想在$微博(WB)$表示，理想汽车现在和以后，所有车型的辅助驾驶和自动驾驶都是完全标配的，包含软件、数据服务、地图服务、算力硬件、传感器等，既不收软件激活的费用，也不收订阅的费用，无论什么价位的车都一样标配。我们自研的自动驾驶系统（标配508Tops算力和激光雷达）明年完全可以和华为、$特斯拉(TSLA)$正面较量。","content":"<p>April 20th,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Li Xiangzai<a href=\"https://laohu8.com/S/WB\">Weibo</a>He said that now and in the future, assisted driving and autonomous driving of all models of Li Auto are completely standard, including software, data services, map services, computing hardware, sensors, etc. There is neither a software activation fee nor a subscription fee. The cost is the same standard no matter what price car is. Our self-developed autonomous driving system (standard with 508Tops computing power and lidar) can fully compete with Huawei,<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Head-on contest.<img src=\"https://static.tigerbbs.com/64a04147bce69bc63c37360a86e5a019\" tg-width=\"1274\" tg-height=\"656\" referrerpolicy=\"no-referrer\"></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>Li Xiang: The self-developed autonomous driving system can compete with Huawei and Tesla next year</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\">\nLi Xiang: The self-developed autonomous driving system can compete with Huawei and Tesla next year\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\">2021-04-20 19:10</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>April 20th,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Li Xiangzai<a href=\"https://laohu8.com/S/WB\">Weibo</a>He said that now and in the future, assisted driving and autonomous driving of all models of Li Auto are completely standard, including software, data services, map services, computing hardware, sensors, etc. There is neither a software activation fee nor a subscription fee. The cost is the same standard no matter what price car is. Our self-developed autonomous driving system (standard with 508Tops computing power and lidar) can fully compete with Huawei,<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Head-on contest.<img src=\"https://static.tigerbbs.com/64a04147bce69bc63c37360a86e5a019\" tg-width=\"1274\" tg-height=\"656\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/2c0ab7d3f5d89bb403311ca0a8e68f8e","relate_stocks":{"LI":"理想汽车"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184442046","content_text":"4月20日，理想汽车李想在微博表示，理想汽车现在和以后，所有车型的辅助驾驶和自动驾驶都是完全标配的，包含软件、数据服务、地图服务、算力硬件、传感器等，既不收软件激活的费用，也不收订阅的费用，无论什么价位的车都一样标配。我们自研的自动驾驶系统（标配508Tops算力和激光雷达）明年完全可以和华为、特斯拉正面较量。","news_type":1,"symbols_score_info":{"LI":0.9}},"isVote":1,"tweetType":1,"viewCount":2029,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":346368199,"gmtCreate":1617998685711,"gmtModify":1704705786401,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"+1","listText":"+1","text":"+1","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/346368199","repostId":"1183093361","repostType":4,"repost":{"id":"1183093361","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":1617980447,"share":"https://ttm.financial/m/news/1183093361?lang=en_US&edition=fundamental","pubTime":"2021-04-09 23:00","market":"us","language":"zh","title":"Biden seeks 8.4% increase in fiscal year 2022 budget","url":"https://stock-news.laohu8.com/highlight/detail?id=1183093361","media":"老虎资讯综合","summary":"周五晚间消息称，美国总统拜登寻求将2022财年预算增加8.4％，至1.52万亿美元。2022财政年度将于2021年10月开始。拜登的预算计划寻求在国内重点项目上的开支增加16%，这一要求是拜登数万亿美","content":"<p>It was reported on Friday night that U.S. President Joe Biden is seeking to increase the fiscal year 2022 budget by 8.4% to $1.52 trillion. Fiscal year 2022 will begin in October 2021.</p><p>Biden's budget plan seeks a 16% increase in spending on key domestic projects, a request that comes on top of Biden's multi-trillion-dollar new infrastructure spending. U.S. administration officials added that Biden's initial budget proposal did not include a $2 trillion infrastructure proposal or tax reform.</p><p>The details of the budget proposal are as follows:</p><p>$1.21 billion to address gun violence. 2. Increase spending by $14 billion on climate change to reach net-zero emissions by 2050 3. A 20% increase in the budget of the National Science Foundation, and an additional $500 million for climate and energy research. The budget seeks to increase non-defense discretionary spending by $769 billion in fiscal 2022, a 16% increase from fiscal 2021 levels; Increase defense spending by US $753 billion, an increase of 1.7% from fiscal year 2021 In addition, US Treasury Secretary Yellen said that according to US President Biden's budget, the US Internal Revenue Service's law enforcement funding will increase by US $900 million in fiscal year 2022. The budget request also includes $13.2 billion for the IRS, an increase of $1.2 billion or 10.4% from fiscal 2021.</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>Biden seeks 8.4% increase in fiscal year 2022 budget</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\">\nBiden seeks 8.4% increase in fiscal year 2022 budget\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\">2021-04-09 23:00</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>It was reported on Friday night that U.S. President Joe Biden is seeking to increase the fiscal year 2022 budget by 8.4% to $1.52 trillion. Fiscal year 2022 will begin in October 2021.</p><p>Biden's budget plan seeks a 16% increase in spending on key domestic projects, a request that comes on top of Biden's multi-trillion-dollar new infrastructure spending. U.S. administration officials added that Biden's initial budget proposal did not include a $2 trillion infrastructure proposal or tax reform.</p><p>The details of the budget proposal are as follows:</p><p>$1.21 billion to address gun violence. 2. Increase spending by $14 billion on climate change to reach net-zero emissions by 2050 3. A 20% increase in the budget of the National Science Foundation, and an additional $500 million for climate and energy research. The budget seeks to increase non-defense discretionary spending by $769 billion in fiscal 2022, a 16% increase from fiscal 2021 levels; Increase defense spending by US $753 billion, an increase of 1.7% from fiscal year 2021 In addition, US Treasury Secretary Yellen said that according to US President Biden's budget, the US Internal Revenue Service's law enforcement funding will increase by US $900 million in fiscal year 2022. The budget request also includes $13.2 billion for the IRS, an increase of $1.2 billion or 10.4% from fiscal 2021.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a06fb8b1db7037b689423e44b4d5b305","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1183093361","content_text":"周五晚间消息称，美国总统拜登寻求将2022财年预算增加8.4％，至1.52万亿美元。2022财政年度将于2021年10月开始。拜登的预算计划寻求在国内重点项目上的开支增加16%，这一要求是拜登数万亿美元的新基础设施开支的基础上提出的。美国政府官员补充表示，拜登的初步预算提案不包括2万亿美元的基础设施提案或税收改革。预算提案的细节如下：1. 21亿美元用于解决枪支暴力问题。2. 在气候变化方面增加140亿美元的支出，以在2050年前达到净零排放3. 增加20%用于国家科学基金会的预算，还有5亿美元用于气候和能源研究4. 预算寻求在2022财年增加7690亿美元的非国防可自由支配支出，比2021财年水平增加16%；增加7530亿美元的国防支出，较2021财年增加1.7%此外，美国财长耶伦表示，根据美国总统拜登的预算，美国国税局的执法经费将在2022财年增加9亿美元。预算要求还包括为国税局提供132亿美元，较2021财年增加了12亿美元或10.4%。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":625,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":136228965,"gmtCreate":1622021866557,"gmtModify":1704366239289,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"6666667","listText":"6666667","text":"6666667","images":[{"img":"https://static.tigerbbs.com/ef25cd9c2434d91887178e98029a7614","width":"1125","height":"3313"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/136228965","isVote":1,"tweetType":1,"viewCount":1623,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":109313675,"gmtCreate":1619663994497,"gmtModify":1704727639065,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"666666666","listText":"666666666","text":"666666666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/109313675","repostId":"2131306661","repostType":4,"isVote":1,"tweetType":1,"viewCount":1920,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":357702638,"gmtCreate":1617293533524,"gmtModify":1704698534907,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"Hi&nbsp;","listText":"Hi&nbsp;","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/357702638","repostId":"1185961704","repostType":4,"repost":{"id":"1185961704","kind":"news","pubTimestamp":1617291608,"share":"https://ttm.financial/m/news/1185961704?lang=en_US&edition=fundamental","pubTime":"2021-04-01 23:40","market":"us","language":"zh","title":"Sister Wood: China's \"disruptive innovation platform\" is on the rise","url":"https://stock-news.laohu8.com/highlight/detail?id=1185961704","media":"华尔街见闻","summary":"近日，方舟投资管理公司创始人Cathie Wood在与MSCI亚太区研究部主管魏震博士的连线直播中，大谈“颠覆性创新技术”在中国的发展前景。她强调，在中国，不要只关注单个公司的崛起，更重要的是“颠覆性","content":"<p>Recently, Cathie Wood, founder of Ark Investment Management Company, talked about the development prospects of \"disruptive innovative technologies\" in China in a live broadcast with Dr. Wei Zhen, head of MSCI Asia Pacific research department.</p><p>She stressed that,<b>In China, don't just focus on the rise of individual companies. More importantly, \"disruptive innovation platforms\" are on the rise, which is the fundamental force to achieve exponential growth, including DNA sequencing, robotics, energy storage, artificial intelligence and blockchain.</b></p><p>For example, she said,<b>In terms of DNA sequencing, Chinese companies are catching up from behind, and China's collaborative robots have also developed to cutting-edge levels</b>。 \"We're seeing more robots and higher productivity, which is good for the economy as a whole,\" she said.</p><p>She also said,<b>China's artificial intelligence and chip technology has been strengthened with cooperation between the government and the private sector</b>。</p><p>In addition, from an environmental and technical perspective,<b>She was \"very impressed\" by China's emphasis on electric vehicles,</b>\"China allows<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Entering shows the government's determination to make electric vehicles bloom everywhere in China. \"</p><p>Cathie Wood focuses on innovation and technology investment. Its fund products have created strong returns far exceeding the broader market and similar funds in the past three years. She is known as the \"technology female stock goddess\" and \"bull market queen\".</p><p>Cathie Wood's flagship product Ark Innovation ETF (ARKK) achieved an astonishing return rate of 152% in 2020, and its asset management scale once reached US $20 billion. The fund is betting about 10% of its assets on Tesla, and the stock surged from $84 at the beginning of last year to $749 at the end of last year, an increase of more than 900%.</p>","source":"highlight_wallstreetcn","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sister Wood: China's \"disruptive innovation platform\" is on the rise</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\">\nSister Wood: China's \"disruptive innovation platform\" is on the rise\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\">2021-04-01 23:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Recently, Cathie Wood, founder of Ark Investment Management Company, talked about the development prospects of \"disruptive innovative technologies\" in China in a live broadcast with Dr. Wei Zhen, head of MSCI Asia Pacific research department.</p><p>She stressed that,<b>In China, don't just focus on the rise of individual companies. More importantly, \"disruptive innovation platforms\" are on the rise, which is the fundamental force to achieve exponential growth, including DNA sequencing, robotics, energy storage, artificial intelligence and blockchain.</b></p><p>For example, she said,<b>In terms of DNA sequencing, Chinese companies are catching up from behind, and China's collaborative robots have also developed to cutting-edge levels</b>。 \"We're seeing more robots and higher productivity, which is good for the economy as a whole,\" she said.</p><p>She also said,<b>China's artificial intelligence and chip technology has been strengthened with cooperation between the government and the private sector</b>。</p><p>In addition, from an environmental and technical perspective,<b>She was \"very impressed\" by China's emphasis on electric vehicles,</b>\"China allows<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Entering shows the government's determination to make electric vehicles bloom everywhere in China. \"</p><p>Cathie Wood focuses on innovation and technology investment. Its fund products have created strong returns far exceeding the broader market and similar funds in the past three years. She is known as the \"technology female stock goddess\" and \"bull market queen\".</p><p>Cathie Wood's flagship product Ark Innovation ETF (ARKK) achieved an astonishing return rate of 152% in 2020, and its asset management scale once reached US $20 billion. The fund is betting about 10% of its assets on Tesla, and the stock surged from $84 at the beginning of last year to $749 at the end of last year, an increase of more than 900%.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3625946\">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/e5b714196a7f48e3a1873938c3772315","relate_stocks":{},"source_url":"https://wallstreetcn.com/articles/3625946","is_english":false,"share_image_url":"https://static.laohu8.com/cc96873d3d23ee6ac10685520df9c100","article_id":"1185961704","content_text":"近日，方舟投资管理公司创始人Cathie Wood在与MSCI亚太区研究部主管魏震博士的连线直播中，大谈“颠覆性创新技术”在中国的发展前景。她强调，在中国，不要只关注单个公司的崛起，更重要的是“颠覆性创新平台”在崛起，这是实现指数式增长的根本力量，包括DNA测序、机器人技术、储能、人工智能和区块链。她举例说，在DNA测序方面，中国企业正在后来居上，中国的协作机器人也已经发展至前沿水平。她说：“我们看到更多的机器人和更高的生产率，这对整个经济都有好处。”她还说，在政府和私营部门的合作之下，中国的人工智能和芯片技术得到了加强。另外，从环境和技术角度来看，中国对电动汽车的重视给她留下了“非常深刻的印象”，“中国允许特斯拉进入，表明了政府决心让电动汽车在中国遍地开花。”Cathie Wood专注于创新与科技投资，旗下基金产品在过去三年中创造了远超大盘与同类基金的强劲回报，被誉为“科技女股神”“牛市女皇”。Cathie Wood旗下旗舰产品方舟创新ETF（ARKK）在2020年实现了惊人的152%的回报率，资管规模一度达到200亿美元。该基金用约10%的资产押注特斯拉，该股股价从去年年初的84美元飙升至去年年底的749美元，增幅超过900%。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":545,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186628053,"gmtCreate":1623494109772,"gmtModify":1704205086676,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"66666666","listText":"66666666","text":"66666666","images":[{"img":"https://static.tigerbbs.com/8cfdeb54b388b6fced9f0649a6e44a7d","width":"1125","height":"3068"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/186628053","isVote":1,"tweetType":1,"viewCount":2037,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":133572409,"gmtCreate":1621776888701,"gmtModify":1704362309659,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"66666666","listText":"66666666","text":"66666666","images":[{"img":"https://static.tigerbbs.com/68f8e0b9519b169259581c8d4fb34bf9","width":"1125","height":"3068"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/133572409","isVote":1,"tweetType":1,"viewCount":1831,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":108081672,"gmtCreate":1619961366496,"gmtModify":1704336793447,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"666666","listText":"666666","text":"666666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/108081672","repostId":"2132893595","repostType":2,"repost":{"id":"2132893595","kind":"news","pubTimestamp":1619959470,"share":"https://ttm.financial/m/news/2132893595?lang=en_US&edition=fundamental","pubTime":"2021-05-02 20:44","market":"us","language":"zh","title":"Watch out for American traps! Behind the arrogance of Apple and Tesla, are they really the creators of the future world","url":"https://stock-news.laohu8.com/highlight/detail?id=2132893595","media":"腾讯新闻","summary":"在一些路人的视角中，无论是苹果还是特斯拉，都是资本的丑陋，慢待消费者已经是常态！亮眼的数据足以说明，在大量铁粉的眼中，苹果和特斯拉都是未来技术的象征，是未来世界的创造者。警惕美国陷阱首先得承认，苹果和特斯拉在中国市场的确取得非常大的成功。","content":"<p><html><body><article>From<a href=\"https://laohu8.com/S/AAPL\">Apple</a>To<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>If we think about it carefully, we will find a very interesting phenomenon.</p><p>From the perspective of some passers-by, whether it is Apple or Tesla, capital is ugly, and it is the norm to treat consumers slowly!</p><p>As a result, no matter how public opinion blows, consumers in the Chinese market still choose Apple and Tesla with their feet. According to data from Apple's second fiscal quarter report, Apple's revenue in Greater China was 17.728 billion, an increase of 87% year-on-year. Similarly, in March, Tesla model 3 ranked first in the domestic mid-level sedan market with sales of 25,352 units, a year-on-year increase of 149.53%.</p><p>The dazzling data is enough to show that in the eyes of a large number of iron fans, Apple and Tesla are both symbols of future technology and creators of the future world.</p><p>Beware of American traps</p><p>First of all, we must admit that Apple and Tesla have indeed achieved great success in the Chinese market. To explore the success behind this, I use Tesla as an example.</p><p>The book \"The American Trap\" writes that the U.S. Department of Justice uses domestic laws as a tool to directly force European motor industry giants<a href=\"https://laohu8.com/S/0J2R.UK\">Alstom</a>Group sells power equipment business to US<a href=\"https://laohu8.com/S/GE\">General Electric</a>Inc.</p><p>This \"America first\" model means that the United States gathers national strength, exercises the power of industry supervision, and suppresses overseas competitors.</p><p>Tesla also grew up under this background of \"America first\".</p><p>At that time, the Prius, a mass-produced model with Toyota's gasoline-electric hybrid technology, captured the United States with high quality and low fuel consumption<a href=\"https://laohu8.com/S/600617\">National New Energy</a>Car market. In response to Toyota's sudden attack, the U.S. Congress supported domestic new energy vehicle manufacturing with a policy loan of US $25 billion, of which the little-known Tesla received a loan of US $465 million.</p><p>As a Tesla Series A investor, Musk smelled a rare new energy business opportunity and became Tesla CEO in 2008.</p><p>Since then, Tesla has been cheating with this legendary figure!</p><p>Faced with Toyota's advantages in new energy vehicles, the National Highway Traffic Safety Administration of the United States first began to attack Toyota by public opinion on the grounds that \"the front floor mats of some Toyota models may slide\". Subsequently, major media began to report wildly that \"Toyota's throttle design is defective\".</p><p>Toyota, aware of the serious development of the situation, began to recall cars on a large scale, and many named cars also suspended sales in the North American market.</p><p>Immediately afterwards, the National Highway Traffic Safety Administration announced that \"the braking system of Toyota Prius may be out of control, and owners are advised to suspend the use of the car.\"</p><p>Under a combination of state, media, consumers, etc., Toyota realized the real intention of the US government. Therefore, it chose to reach a strategic cooperation agreement with the \"weakest\" Tesla. Tesla used this to obtain Toyota's funds and \"lean production\" production technology.</p><p>Since then, Tesla has begun to take off, and Toyota can only \"disappear\" in the North American market.</p><p>It is not difficult to see that Tesla still benefits from the protection of the \"American nationwide system\"!</p><p>Are Apple and Tesla really creating future technologies?</p><p>Explosive technological iteration and exquisite brand marketing model make Tesla expected to become the \"next Apple company\" in China and even the world after Apple.</p><p>Tesla's stock price soared 10 times in a year,<span>Total Market Capitalization</span>It is as high as 700 billion US dollars, exceeding the combined market value of traditional giants such as Toyota and Volkswagen. Investors' expectations once exceeded Apple at its peak.</p><p>However, if we think about it carefully, do Apple and Tesla really deserve their name? Is it really a technology that creates the future?</p><p>Apple is indeed the pioneer of mobile Internet access and the creator of closed IOS ecosystem. However, after so many years, is the performance and user experience of the current Apple phones really much higher than those of Android phones? Naturally not, but Apple still maintains its brand value.</p><p>The future technology in Tesla's mouth is only pure electric and autonomous driving, but now, it's not just \"the moon in the water and the flower in the mirror\". Many consumers who don't understand technology just look very powerful. In fact, Tesla technology itself has many problems.</p><p>Tesla, which uses a time-sharing operating system with linux kernel + consumer-grade chips, is difficult to achieve the security and real-time performance required by car regulations.</p><p>There are problems with these technology choices themselves. No matter how time-sharing systems develop, they will not become real-time systems, and no matter how consumer-grade chips develop, they will not become industrial-grade requirements. Not to mention autonomous driving, it is impossible to produce anything disruptive without more than ten years.</p><p>This disruptive future technology can definitely not be solved by Tesla and Apple alone, but requires the joint efforts of the entire academia and industry.</p><p>Concluding remarks</p><p>Global American companies such as Tesla and Apple will inevitably not be protected by the \"America First\" policy. Relying on various legal proceedings and reputation disputes to bring down domestic companies, such as the two-year Tesla lawsuit<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>In the case of new employees, another example is the encircled Apple tax.</p><p>Domestic enterprises have to beware of this \"American trap\".</p><p>Moreover, the constant export of American culture has given the public the illusion that all high-tech products are from the United States. This illusion, for a long time in the past, has contributed to the indifference of American enterprises towards consumers and their contempt for local culture. As a result, there have been many cases in which \"domestic consumers are trampled on and still pay the bill\".</p><p>The root cause is a lack of confidence in one's own culture!</p><p>But I believe that in the huge Chinese market, Tesla, Apple,<a href=\"https://laohu8.com/S/NKE\">Nike</a>Wait, is not an indispensable part of it.</p><p>Pay attention to meditation technology, a person who looks at the world in meditation!</p><p></article></body></html></p>","source":"tencent","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Watch out for American traps! Behind the arrogance of Apple and Tesla, are they really the creators of the future world</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\">\nWatch out for American traps! Behind the arrogance of Apple and Tesla, are they really the creators of the future world\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">腾讯新闻</strong><span class=\"h-time small\">2021-05-02 20:44</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><body><article>From<a href=\"https://laohu8.com/S/AAPL\">Apple</a>To<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>If we think about it carefully, we will find a very interesting phenomenon.</p><p>From the perspective of some passers-by, whether it is Apple or Tesla, capital is ugly, and it is the norm to treat consumers slowly!</p><p>As a result, no matter how public opinion blows, consumers in the Chinese market still choose Apple and Tesla with their feet. According to data from Apple's second fiscal quarter report, Apple's revenue in Greater China was 17.728 billion, an increase of 87% year-on-year. Similarly, in March, Tesla model 3 ranked first in the domestic mid-level sedan market with sales of 25,352 units, a year-on-year increase of 149.53%.</p><p>The dazzling data is enough to show that in the eyes of a large number of iron fans, Apple and Tesla are both symbols of future technology and creators of the future world.</p><p>Beware of American traps</p><p>First of all, we must admit that Apple and Tesla have indeed achieved great success in the Chinese market. To explore the success behind this, I use Tesla as an example.</p><p>The book \"The American Trap\" writes that the U.S. Department of Justice uses domestic laws as a tool to directly force European motor industry giants<a href=\"https://laohu8.com/S/0J2R.UK\">Alstom</a>Group sells power equipment business to US<a href=\"https://laohu8.com/S/GE\">General Electric</a>Inc.</p><p>This \"America first\" model means that the United States gathers national strength, exercises the power of industry supervision, and suppresses overseas competitors.</p><p>Tesla also grew up under this background of \"America first\".</p><p>At that time, the Prius, a mass-produced model with Toyota's gasoline-electric hybrid technology, captured the United States with high quality and low fuel consumption<a href=\"https://laohu8.com/S/600617\">National New Energy</a>Car market. In response to Toyota's sudden attack, the U.S. Congress supported domestic new energy vehicle manufacturing with a policy loan of US $25 billion, of which the little-known Tesla received a loan of US $465 million.</p><p>As a Tesla Series A investor, Musk smelled a rare new energy business opportunity and became Tesla CEO in 2008.</p><p>Since then, Tesla has been cheating with this legendary figure!</p><p>Faced with Toyota's advantages in new energy vehicles, the National Highway Traffic Safety Administration of the United States first began to attack Toyota by public opinion on the grounds that \"the front floor mats of some Toyota models may slide\". Subsequently, major media began to report wildly that \"Toyota's throttle design is defective\".</p><p>Toyota, aware of the serious development of the situation, began to recall cars on a large scale, and many named cars also suspended sales in the North American market.</p><p>Immediately afterwards, the National Highway Traffic Safety Administration announced that \"the braking system of Toyota Prius may be out of control, and owners are advised to suspend the use of the car.\"</p><p>Under a combination of state, media, consumers, etc., Toyota realized the real intention of the US government. Therefore, it chose to reach a strategic cooperation agreement with the \"weakest\" Tesla. Tesla used this to obtain Toyota's funds and \"lean production\" production technology.</p><p>Since then, Tesla has begun to take off, and Toyota can only \"disappear\" in the North American market.</p><p>It is not difficult to see that Tesla still benefits from the protection of the \"American nationwide system\"!</p><p>Are Apple and Tesla really creating future technologies?</p><p>Explosive technological iteration and exquisite brand marketing model make Tesla expected to become the \"next Apple company\" in China and even the world after Apple.</p><p>Tesla's stock price soared 10 times in a year,<span>Total Market Capitalization</span>It is as high as 700 billion US dollars, exceeding the combined market value of traditional giants such as Toyota and Volkswagen. Investors' expectations once exceeded Apple at its peak.</p><p>However, if we think about it carefully, do Apple and Tesla really deserve their name? Is it really a technology that creates the future?</p><p>Apple is indeed the pioneer of mobile Internet access and the creator of closed IOS ecosystem. However, after so many years, is the performance and user experience of the current Apple phones really much higher than those of Android phones? Naturally not, but Apple still maintains its brand value.</p><p>The future technology in Tesla's mouth is only pure electric and autonomous driving, but now, it's not just \"the moon in the water and the flower in the mirror\". Many consumers who don't understand technology just look very powerful. In fact, Tesla technology itself has many problems.</p><p>Tesla, which uses a time-sharing operating system with linux kernel + consumer-grade chips, is difficult to achieve the security and real-time performance required by car regulations.</p><p>There are problems with these technology choices themselves. No matter how time-sharing systems develop, they will not become real-time systems, and no matter how consumer-grade chips develop, they will not become industrial-grade requirements. Not to mention autonomous driving, it is impossible to produce anything disruptive without more than ten years.</p><p>This disruptive future technology can definitely not be solved by Tesla and Apple alone, but requires the joint efforts of the entire academia and industry.</p><p>Concluding remarks</p><p>Global American companies such as Tesla and Apple will inevitably not be protected by the \"America First\" policy. Relying on various legal proceedings and reputation disputes to bring down domestic companies, such as the two-year Tesla lawsuit<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>In the case of new employees, another example is the encircled Apple tax.</p><p>Domestic enterprises have to beware of this \"American trap\".</p><p>Moreover, the constant export of American culture has given the public the illusion that all high-tech products are from the United States. This illusion, for a long time in the past, has contributed to the indifference of American enterprises towards consumers and their contempt for local culture. As a result, there have been many cases in which \"domestic consumers are trampled on and still pay the bill\".</p><p>The root cause is a lack of confidence in one's own culture!</p><p>But I believe that in the huge Chinese market, Tesla, Apple,<a href=\"https://laohu8.com/S/NKE\">Nike</a>Wait, is not an indispensable part of it.</p><p>Pay attention to meditation technology, a person who looks at the world in meditation!</p><p></article></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2021050220485679bcbcfb&s=b\">腾讯新闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/78edc8337704ffd6760fab4583246af8","relate_stocks":{"TSLA":"特斯拉","AAPL":"苹果","09086":"华夏纳指-U","03086":"华夏纳指","00572":"未来世界控股"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2021050220485679bcbcfb&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2132893595","content_text":"从苹果到特斯拉，我们仔细回想一下，就会发现一个很有意思的现象。在一些路人的视角中，无论是苹果还是特斯拉，都是资本的丑陋，慢待消费者已经是常态！结果，任凭舆论怎么吹打，中国市场的消费者还是用脚选择了苹果和特斯拉。苹果第二财季报告数据显示，苹果在大中华区营收为177.28亿，同比去年同期增长87%。同样，3月份，特斯拉model 3以25352辆的销量位居国内中级轿车市场第一，同比上涨149.53%。亮眼的数据足以说明，在大量铁粉的眼中，苹果和特斯拉都是未来技术的象征，是未来世界的创造者。警惕美国陷阱首先得承认，苹果和特斯拉在中国市场的确取得非常大的成功。为了探究这背后的成功，我以特斯拉举例说明。《美国陷阱》一书中写到，美国司法部以国内法作为工具，直接迫使欧洲电机产业巨人阿尔斯通集团将电力设备业务卖给美国通用电气公司。这种”美国优先“模式，就是美国集国家力量，行行业监管之权，打压海外竞争对手。特斯拉，也正是在这种”美国优先“的大背景下成长起来的。当时，丰田油电混动技术量产车型普锐斯，以高质量和低油耗一举攻下美国新能源车市场。为了应对丰田的突然袭击，美国国会以250亿美元的政策性贷款，扶持国内新能源汽车制造，其中鲜有名气的特斯拉获得了4.65亿美元贷款。作为特斯拉A轮投资人的马斯克，嗅到了难得的新能源商机，并于2008年担任特斯拉CEO。从此，特斯拉便与这个传奇人物一同开挂！面对丰田在新能源汽车上的优势，美国国家公路交通安全管理局首先以”丰田部分车型的前排脚垫可能发生滑动“为由，开始对丰田进行舆论攻击。随后，各大媒体又开始疯狂报道，”丰田的油门设计存在缺陷“。意识事态发展严重的丰田，开始大规模召回汽车，多个被点名的汽车也暂停在北美市场销售。紧接着，美国国家公路交通安全管理局宣布，”丰田普锐斯的制动系统存在失控可能，建议车主暂停用车。“国家、媒体、消费者等一套组合拳之下，丰田意识到美国政府的真正用意。于是，选择与”最弱“的特斯拉达成战略合作协议。特斯拉便以此获得了丰田的资金和“精益生产”的生产工艺。从此，特斯拉开始腾飞，丰田只能在北美市场”烟消云散“。不难看出，特斯拉依然得益于”美国举国制度“的庇护！苹果、特斯拉，真是缔造了未来技术吗爆发式的技术迭代和精妙的品牌营销模式，使得特斯拉有望成为继苹果之后，成为中国乃至全球的”下一个苹果公司“。特斯拉股价一年之内暴涨10倍，总市值高达7000亿美元，超过丰田、大众等传统巨头的市值总和，投资者的期望一度超过巅峰时期的苹果。然而，我们仔细想想，苹果、特斯拉，真的是名至实归吗？真是缔造未来技术吗？苹果的确是移动上网的开创者，也是封闭IOS生态的缔造者。但是，这样多年过去，现在的苹果手机真的比一众安卓手机的性能、用户体验高出很多吗？自然不是，但是苹果依然保持着其品牌价值。特斯拉口中的未来技术也只是纯电动和自动驾驶，可是事到如今，不还只是”水中月、镜中花“。很多不懂技术的消费者，只是看着很厉害，其实特斯拉技术本身存在很多问题。采用linux内核的分时操作系统+消费级芯片的特斯拉，很难做到车规级所要求的安全性和实时性。这些技术选择本身存在的问题。分时系统怎么发展都不会变成实时系统，消费级芯片怎么发展也不会变成工业级要求。自动驾驶更不用说，没有个十几年，根本搞不出颠覆性的东西。这种颠覆性的未来技术，绝对不是单靠特斯拉和苹果能够解决，需要整个学术界、产业界的共同努力。结束语特斯拉、苹果这种全球化的美国企业，难免不会得到”美国优先“政策的庇护。依托各种法律诉讼和名誉纷争来拖垮国内企业的手段，比如长达两年的特斯拉状告小鹏汽车新员工一案，再比如被围剿的苹果税。国内企业不得不提防这种”美国陷阱“。而且，不断向外输出的美国文化，让大众产生了高科技的都是出自美国的幻觉。这种幻觉，在过去很长一段时间，助长了美国企业对待消费者的冷漠态度和对本土文化的蔑视态度。从而，出现了不少”国内消费者被践踏且依然买单“的案例。究其根源，是对自己的文化缺乏自信！但是我相信，在巨大的中国市场，特斯拉、苹果、耐克等，并非是其中不可或缺的一环。关注静心科技，一个静心看待世界的人！","news_type":1,"symbols_score_info":{"TSLA":1,"AAPL":1,"03086":0.6,"09086":0.6,"00572":0.6}},"isVote":1,"tweetType":1,"viewCount":1934,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":103238838,"gmtCreate":1619785373424,"gmtModify":1704272327148,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"6666","listText":"6666","text":"6666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/103238838","repostId":"1171332325","repostType":4,"repost":{"id":"1171332325","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":1619783662,"share":"https://ttm.financial/m/news/1171332325?lang=en_US&edition=fundamental","pubTime":"2021-04-30 19:54","market":"us","language":"zh","title":"Three departments in Guangdong jointly held an administrative guidance meeting for Internet platform enterprises","url":"https://stock-news.laohu8.com/highlight/detail?id=1171332325","media":"老虎资讯综合","summary":"阿里、腾讯、京东等与会","content":"<p>According to Zhongxin.com, the Guangdong Provincial Market Supervision Administration, together with the Office of Guangdong Provincial Network Security and Information Commission and the Guangdong Provincial Taxation Bureau of State Taxation Administration of The People's Republic of China, held an administrative guidance meeting for Internet platform enterprises.</p><p>The meeting pointed out that Guangdong's platform economy is developing rapidly, the market scale continues to expand, and the overall situation of the platform economy is improving. However, with the rapid development, risks and hidden dangers are gradually accumulating, and the harm cannot be ignored, so it is urgent to regulate according to law. Problems such as forcing \"choose one from the other\", \"pinching mergers and acquisitions\", burning money to seize the market of \"community group buying\", \"big data killing\", \"counterfeiting and shoddy\", \"information leakage\", \"consumer fraud\", \"false propaganda\" and \"network pyramid schemes\" must be seriously rectified.</p><p><a href=\"https://laohu8.com/S/BABA\">Alibaba</a>、<a href=\"https://laohu8.com/S/00700\">Tencent Holdings</a>、<a href=\"https://laohu8.com/S/JD\">JD.com</a>、<a href=\"https://laohu8.com/S/VIPS\">Vipshop</a>、<a href=\"https://laohu8.com/S/002024\">Suning.com</a>Representatives of many Internet platform companies such as No. 1 Pharmacy attended the meeting.</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>Three departments in Guangdong jointly held an administrative guidance meeting for Internet platform 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\">\nThree departments in Guangdong jointly held an administrative guidance meeting for Internet platform enterprises\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\">2021-04-30 19:54</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>According to Zhongxin.com, the Guangdong Provincial Market Supervision Administration, together with the Office of Guangdong Provincial Network Security and Information Commission and the Guangdong Provincial Taxation Bureau of State Taxation Administration of The People's Republic of China, held an administrative guidance meeting for Internet platform enterprises.</p><p>The meeting pointed out that Guangdong's platform economy is developing rapidly, the market scale continues to expand, and the overall situation of the platform economy is improving. However, with the rapid development, risks and hidden dangers are gradually accumulating, and the harm cannot be ignored, so it is urgent to regulate according to law. Problems such as forcing \"choose one from the other\", \"pinching mergers and acquisitions\", burning money to seize the market of \"community group buying\", \"big data killing\", \"counterfeiting and shoddy\", \"information leakage\", \"consumer fraud\", \"false propaganda\" and \"network pyramid schemes\" must be seriously rectified.</p><p><a href=\"https://laohu8.com/S/BABA\">Alibaba</a>、<a href=\"https://laohu8.com/S/00700\">Tencent Holdings</a>、<a href=\"https://laohu8.com/S/JD\">JD.com</a>、<a href=\"https://laohu8.com/S/VIPS\">Vipshop</a>、<a href=\"https://laohu8.com/S/002024\">Suning.com</a>Representatives of many Internet platform companies such as No. 1 Pharmacy attended the meeting.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/21f1b41cc853acfa05723ca08856323c","relate_stocks":{"00700":"腾讯控股","09988":"阿里巴巴-W","09618":"京东集团-SW","JD":"京东","BABA":"阿里巴巴"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171332325","content_text":"据中新网报道，广东省市场监督管理局会同广东省网络安全和信息化委员会办公室、国家税务总局广东省税务局召开互联网平台企业行政指导会。\n会议指出，广东平台经济发展迅猛，市场规模持续扩大，平台经济总体态势向好。但在快速发展的同时，风险与隐患也逐渐累积，危害不容忽视，依法规范刻不容缓。强迫实施“二选一”、实施“掐尖并购”、烧钱抢占“社区团购”市场、实施“大数据杀熟”、“假冒伪劣”、“信息泄露”、“消费欺诈”、“虚假宣传”、“网络传销”等问题必须严肃整治。\n阿里巴巴、腾讯控股、京东、唯品会、苏宁易购、壹号大药房等多家互联网平台企业代表参加会议。","news_type":1,"symbols_score_info":{"09988":0.9,"00700":0.9,"09618":0.9,"BABA":0.9,"JD":0.9}},"isVote":1,"tweetType":1,"viewCount":1856,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":371139923,"gmtCreate":1618918712362,"gmtModify":1704716839819,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"6666666","listText":"6666666","text":"6666666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/371139923","repostId":"1115381700","repostType":4,"repost":{"id":"1115381700","kind":"news","pubTimestamp":1618916552,"share":"https://ttm.financial/m/news/1115381700?lang=en_US&edition=fundamental","pubTime":"2021-04-20 19:02","market":"us","language":"zh","title":"Technology giants are building cars one after another, which is actually just a stepping stone","url":"https://stock-news.laohu8.com/highlight/detail?id=1115381700","media":"锐问 Record","summary":"加入中国电动车俱乐部，要先搞定2张门票。","content":"<p>In the past six months, the headlines of China's auto industry have come from big technology companies. The Shanghai Auto Show, which officially opened on April 19, is no exception.</p><p>Huawei, a smartphone manufacturer that claims not to build cars and wants to be a first-tier supplier, released a customized new model in conjunction with ARCFOX on this day. Zhiji Automobile, jointly built by SAIC and Ali, will also release its first mass-produced car.</p><p>Unlike the new forces investing in car manufacturing in the past five years, smartphone manufacturer Xiaomi and major Internet companies<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>, they all have to build cars themselves. In the future, this team may also have Didi Chuxing.</p><p>Technology giants are increasingly in urgent need of a new field to become a new growth point after the era of smartphones. Smart electric vehicles are one of the new directions they are looking for.</p><p>But from investing to building a car yourself, has it become easier to realize this wish?</p><p><b>To join the China Electric Vehicle Club, you must first get 2 tickets</b></p><p>In China, want to be like<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>To build a smart pure electric vehicle, the new company first needs two licenses. One piece is used to build factories and cars, led by the National Development and Reform Commission; One piece is used to build a company and sell cars, which is under the management of the Ministry of Industry and Information Technology.</p><p><img src=\"https://static.tigerbbs.com/67adccefb368ef6b178d50400188ab85\" tg-width=\"550\" tg-height=\"334\" referrerpolicy=\"no-referrer\">How many steps are there to become a dual-qualified electric vehicle company? Information source: National Development and Reform Commission, Ministry of Industry and Information Technology</p><p>But the application conditions seem to be gradually relaxing.</p><p>The first license plate is hard to get. In June 2017, China<a href=\"https://laohu8.com/S/600617\">National New Energy</a>In the controversy over automobile overcapacity, the National Development and Reform Commission no longer announced the approval information of new projects, and there was news that the approval had been substantially suspended. Now, even if access for new companies to build factories and build cars is reopened, they still face time-consuming approval cycles.</p><p>But it's not that there's no solution at all. Yao Lijuan, a partner at King & Wood Mallesons, believes that it will be easier for traditional car manufacturers that already have experience in manufacturing complete vehicles or parts to apply for production qualifications. In addition to independently applying for qualifications, for new car-making forces, they can also choose OEM production or directly acquire existing car manufacturers.</p><p>Among them, the automobile OEM model is gradually being recognized by policies.</p><p>In May 2018,<a href=\"https://laohu8.com/S/NIO\">Nio</a>Since the delivery of the first batch of mass-produced ES8, car owners have successively picked the \"JAC\" tail logo. Because according to the \"Measures for the Administration of External Identification of Automobile Products\" implemented in 2005, the rear of the car must have a modern factory brand.</p><p>In this regard, Li Bin, CEO of Nio, once said that the state's mandatory requirement for passenger cars to paste the name of manufacturer is out of date. For start-ups in the brand cultivation period, this regulation adds additional difficulty and also increases communication costs.</p><p>In other words, at that time, automobile OEM was still in the gray area of supervision.</p><p>It was not until December 2018 in the \"Measures for the Administration of Road Motor Vehicle Manufacturers and Product Access\" that the Ministry of Industry and Information Technology affirmed the automobile OEM model at the policy level for the first time, and also put forward new requirements. For example, new car companies that have not obtained production qualifications need to produce 30,000 vehicles by OEM before they are eligible to apply for qualifications and build factories.</p><p>The draft OEM management measures have not yet been released. However, in May 2020, at the second \"Ministerial Channel\" question-and-answer press conference of the Third Session of the 13th National People's Congress, Miao Wei, Minister of the Ministry of Industry and Information Technology, mentioned the orderly liberalization of OEM production of new energy companies, as well as the research and development of innovative new energy vehicle companies, implement brand authorization pilots.</p><p><img src=\"https://static.tigerbbs.com/d8124e0022f80c4d05da77d77d848146\" tg-width=\"550\" tg-height=\"445\" referrerpolicy=\"no-referrer\">At present, there are 18 companies on the market that have obtained this qualification. Source: According to public information, Tram Exchange</p><p>The process of applying for qualifications is slow and full of uncertainties, and the faster and more expensive way is to directly acquire an already qualified company. Zhao Gang, vice president of Leapmotor, once said, \"In the industry now, a qualification is about 400 million.\"</p><p>This price does not include the invisible debt behind the acquisition company that is difficult to figure out. For example, in September 2018, BYTON 1 yuan acquired FAW Huali and took over the latter's 800 million yuan debt. Later, BYTON couldn't raise money, and it was busy paying off debts due to money shortage.</p><p>Later,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Acquired Chongqing Lifan, and Evergrande acquired Guoneng. For new companies, there are fewer and fewer qualifications that can be acquired, and the asking price of suitable qualifications will only be higher.</p><p>Nio insists on the OEM model. Its co-founder Qin Lihong once said, \"We also like qualifications, but if you ask me to spend 1 billion to buy an empty shell, I will definitely not do it. We will not obtain production qualifications by acquiring shell resources.\"</p><p>In September last year, the application conditions for the second license were also relaxed.</p><p>In September 2020, the new regulations of the Ministry of Industry, Information and Information Technology of China's \"Regulations on the Administration of New Energy Vehicle Manufacturers and Product Access\" deleted the requirement of \"design and development capabilities\". In other words, if technology companies such as Xiaomi or Baidu want to apply for a company to build electric vehicles, they are no longer required to independently develop core technologies-batteries, motors and electronic controls.</p><p>Song Jian, executive vice president of Tsinghua University Automotive Engineering Development Research Institute, believes that the new regulations have lowered the entry threshold for enterprises and their products, and more new players are bound to enter the market to build cars, especially RMB players.</p><p>They can buy R&D technology, production technology, safety technology, etc., and even directly buy a traditional car factory, and successfully put products with reliable quality and users' favorite products on the market.</p><p>But after entering 2020, China's electric vehicle market has become cruel. No matter how fast the production car is pushed, the window period has closed. With the end of subsidies and the introduction of foreign capital, new companies are bound to face more intense competition. Xiaomi, Baidu, and Didi may face competitors not only Tesla, Nio, and XPeng, but also Volkswagen, General Motors, and Toyota.</p><p><b>The stepping stone to building a car is still a bit hard</b></p><p>Generally speaking, new companies will concentrate their superior resources to make a good car, and then push new models at a certain frequency. Tesla spent three years polishing the Model S before launching a new car in two years. Nio, Ideal, and XPeng also spent about four years each building their first production car.</p><p>But not all companies can succeed. If you are willing to spend money, you may not be able to build a good car. Dyson, which built hair dryers, spent four years and 2.5 billion pounds (about 22.7 billion yuan) to abandon its car-building plan.</p><p>Dyson and Old<a href=\"https://laohu8.com/S/GLP\">Partners Global</a>Peter Gammack, vice president of design and technology, personally checked the body design, trial and error. But car design pays attention to precision, and the learning curve is steep. Therefore, they also hired many people in the auto industry to point out the problems.</p><p>Since 2016, Dyson has added two more automotive professionals to its board of directors. Comprising,<a href=\"https://laohu8.com/S/AMLN.UK\">Aston Martin</a>Ian Minards, former chief engineer, and Ian Robertson, a key supporter of BMW's electric vehicle plan.</p><p><img src=\"https://static.tigerbbs.com/647a748492535a79d1257995c247452e\" tg-width=\"550\" tg-height=\"364\" referrerpolicy=\"no-referrer\">Dyson Concept EV</p><p>Even with a bunch of automotive professionals checking the gate, the Dyson concept car still adopts a series of radical designs. Including a low roof, larger wheels, frameless window glass, and a \"suicide\" door that only luxury cars are equipped with.</p><p>In addition to research and development and planning of new models, OEMs are also responsible for integrating complete vehicles. The supplier is responsible for developing and producing parts. Although the number of parts of electric vehicles is smaller than that of fuel vehicles, every innovative design will increase the difficulty and cost of supplier development. The difficulty for OEMs to manage suppliers will also increase exponentially.</p><p>For big tires alone, Dyson has discussed the feasibility with several suppliers. In the end, only two tire manufacturers felt it could be done-Princestone of Japan and Michelin of France.</p><p>The more special design is inside the car. Dyson hired a group of engineers who had never been exposed to automobile air-conditioning systems, and built a set that could heat and cool this 7-seat SUV in zones, and also save electricity.</p><p>In addition to the body design, there is no need to stop to charge during urban journeys, and longer battery life is also the main selling point of Dyson. To this end, they have to independently develop suspension for more batteries, and make more space on it.</p><p>Similar to Dyson, major Chinese technology companies may not have to worry about brand appeal, and powerful suppliers are happy to cooperate. However, once the cost of difficult car design exceeds expectations, one car will lose money, and no amount of money will be able to fill the hole.</p><p>They may also fail to deliver goods on schedule, do not meet quality requirements, and have unclear standards, resulting in delays in projects. In China, the 15 engineering prototype vehicles handed over to the Ministry of Industry and Information Technology for inspection still need to meet safety regulations, and a professional team must know how to communicate with national ministries and commissions.</p><p>Due to the different sizes and processes of each model, the requirements for the production line are also different. Car companies usually put one or two models in one factory for centralized production. Leaner to invest and manage. To this end, Dyson specially purchased and repaired an airport, its warehouse and runway.</p><p>For new companies, if a new factory is put into production, it is necessary to synchronize the progress of civil engineering, including obtaining environmental impact assessment, fire protection, and civil engineering accreditation qualifications. Imported equipment should also follow up logistics. Once any link gets stuck, the capital flow needs to keep up.</p><p>In the end, James Dyson once lamented to the reporter of the Financial Times that he spent a lot of effort on research and development, but finally found that the mass production cost was too high. Batteries, battery management, electronics and cooling systems are much more expensive than internal combustion engines. \"To level the income and expenditure, an electric car has to sell at least $300,000.\"</p><p>It is already easier to mass-produce high-end models than low-end models. Buy one<a href=\"https://laohu8.com/S/RRN.UK\">Rolls-Royce</a>People believe in manufacturing technology; People who buy a Toyota Corolla are after failure-free, fuel-efficient and smooth. With an annual output of hundreds of thousands, reliability is the primary goal of automobiles.</p><p>In February of this year, Tesla CEO Musk also admitted that it is difficult to ensure that the details do not go wrong when the production capacity is ramping up. In a public interview, he advised consumers to either buy at the beginning or wait until the output stabilizes before buying.</p><p>A person close to Xiaomi's automobile research project once told Caixin that Xiaomi pursues cost-effectiveness, and it is likely to build cars in volume. Therefore, mass production is very important. But can car companies fully supply? Can supply chains such as batteries and chips keep up? I'm afraid the car companies themselves cannot guarantee these problems.</p><p>It is still a complicated project for a technology company to build a car that will continue to drive in rain, snow, wind and snow for 15 years.</p><p><b>Now no one has found a better way to make money except selling cars</b></p><p>In the era of fuel vehicles, traditional car manufacturers have established a 4S store distribution network to make a fortune when selling complete vehicles and another when repairing and maintaining them. Moreover, selling accessories is far more profitable than selling complete vehicles. In addition, supporting auto finance, such as loans to buy cars, is also an important source of profit.</p><p>An electric vehicle is more like an electronic device and requires less maintenance. Direct store sales can indeed ensure the sales experience and maximize profits. Looking at Tesla's 2020 books, the revenue was US $31.5 billion, 94% of which came from selling cars. The remaining 6% comes from selling regulatory points, software, and even brand peripherals.</p><p>Every extra car sold will dilute the cost of developing a model. However, since selling cars for 12 years, Tesla has suffered losses so far. Last year, it made $721 million by selling environmental supervision points to traditional car manufacturers. The previous year, it still lost $862 million on the books.</p><p>It seems that the era of electric vehicles has not yet arrived.</p><p>For consumers, purchasing electric vehicles may not be the best choice at this stage. \"Car Review No. 38\" once calculated that in China, if car purchase and electricity price subsidies are not considered, and depreciation is included, buying an electric vehicle is not more cost-effective than a fuel vehicle at this stage.</p><p><img src=\"https://static.tigerbbs.com/da93ed97c8c172097f872e34eed8f4f2\" tg-width=\"550\" tg-height=\"295\" referrerpolicy=\"no-referrer\"></p><p>Most of the reasons why people buy electric vehicles do not come from the manufacturer's product strength itself. In the 2021 McKinsey China Automobile Consumption Report, more than half of consumers' willingness to buy electric vehicles is based on some controversial views.</p><p>For example, 68% of respondents believe that electric vehicles are more environmentally friendly. However, until there is better battery recycling technology, electric vehicles are not necessarily more environmentally friendly.</p><p>Driven by policies such as environmental protection, battery costs have not dropped, and technology companies' cross-border manufacturing of electric vehicles cannot completely subvert the traditional automobile industry. But only when more people use their own hardware will they be likely to make money from technology in the future.</p><p>Last year, Tesla won the sales championship in China's pure electric vehicle market, selling 137,000 Model 3s. According to Wang Yongqing, general manager of Shanghai GM, it is difficult for traditional car companies to give up 95% of the existing fuel vehicle market. For pure electric vehicles with distinctive characteristics, the cash flow brought by higher selling prices can also support their bold application of new technologies.</p><p><img src=\"https://static.tigerbbs.com/2ec80237966c03fbc31c3e4dba9586fd\" tg-width=\"550\" tg-height=\"309\" referrerpolicy=\"no-referrer\">Top 10 best-selling pure electric vehicle models in China in 2020 Data source: China Association of Automobile Manufacturers</p><p>Building and selling cars is just a stepping stone. What is more noteworthy is that major technology companies are developing autonomous driving technology.</p><p>In December 2020, there were constant rumors<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Finally, there are new rumors about the construction plan. Apple is indeed still working on a complete vehicle. This may be a self-driving car based on the modern electric vehicle platform E-GMP. The car chip has evolved from the A12 bionic chip and is equipped with breakthrough battery technology.</p><p>May be involved in Xiaomi's car manufacturing<a href=\"https://laohu8.com/S/688169\">Stone Technology</a>, is also independently developing multi-line lidar. This technology can be used not only in its flagship product, sweeping robots, but also in self-driving cars. The Jihu Alpha S equipped with Huawei'S ADS autonomous driving system has been unveiled at the Shanghai Auto Show and is expected to be delivered within this year.</p><p>Tesla, Uber, Google, and Apple have all envisioned the same future.</p><p>Robots will eventually rule the transportation industry. Unmanned vehicles carry passengers on the road and through the air, and drones are responsible for delivering goods. And companies with driverless technology will be at the center of all this. Better integration of hardware, software and services will become its core competitiveness.</p><p>By then, as Tesla CEO elon musk once envisioned-the company's profit growth will mainly come from self-driving travel services and paid software. If then, Tesla would still be the best-selling smart electric car brand.</p>","source":"lsy1616056435833","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>Technology giants are building cars one after another, which is actually just a stepping stone</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\">\nTechnology giants are building cars one after another, which is actually just a stepping stone\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">锐问 Record</strong><span class=\"h-time small\">2021-04-20 19:02</span>\n</p>\n</h4>\n</header>\n<article>\n<p>In the past six months, the headlines of China's auto industry have come from big technology companies. The Shanghai Auto Show, which officially opened on April 19, is no exception.</p><p>Huawei, a smartphone manufacturer that claims not to build cars and wants to be a first-tier supplier, released a customized new model in conjunction with ARCFOX on this day. Zhiji Automobile, jointly built by SAIC and Ali, will also release its first mass-produced car.</p><p>Unlike the new forces investing in car manufacturing in the past five years, smartphone manufacturer Xiaomi and major Internet companies<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>, they all have to build cars themselves. In the future, this team may also have Didi Chuxing.</p><p>Technology giants are increasingly in urgent need of a new field to become a new growth point after the era of smartphones. Smart electric vehicles are one of the new directions they are looking for.</p><p>But from investing to building a car yourself, has it become easier to realize this wish?</p><p><b>To join the China Electric Vehicle Club, you must first get 2 tickets</b></p><p>In China, want to be like<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>To build a smart pure electric vehicle, the new company first needs two licenses. One piece is used to build factories and cars, led by the National Development and Reform Commission; One piece is used to build a company and sell cars, which is under the management of the Ministry of Industry and Information Technology.</p><p><img src=\"https://static.tigerbbs.com/67adccefb368ef6b178d50400188ab85\" tg-width=\"550\" tg-height=\"334\" referrerpolicy=\"no-referrer\">How many steps are there to become a dual-qualified electric vehicle company? Information source: National Development and Reform Commission, Ministry of Industry and Information Technology</p><p>But the application conditions seem to be gradually relaxing.</p><p>The first license plate is hard to get. In June 2017, China<a href=\"https://laohu8.com/S/600617\">National New Energy</a>In the controversy over automobile overcapacity, the National Development and Reform Commission no longer announced the approval information of new projects, and there was news that the approval had been substantially suspended. Now, even if access for new companies to build factories and build cars is reopened, they still face time-consuming approval cycles.</p><p>But it's not that there's no solution at all. Yao Lijuan, a partner at King & Wood Mallesons, believes that it will be easier for traditional car manufacturers that already have experience in manufacturing complete vehicles or parts to apply for production qualifications. In addition to independently applying for qualifications, for new car-making forces, they can also choose OEM production or directly acquire existing car manufacturers.</p><p>Among them, the automobile OEM model is gradually being recognized by policies.</p><p>In May 2018,<a href=\"https://laohu8.com/S/NIO\">Nio</a>Since the delivery of the first batch of mass-produced ES8, car owners have successively picked the \"JAC\" tail logo. Because according to the \"Measures for the Administration of External Identification of Automobile Products\" implemented in 2005, the rear of the car must have a modern factory brand.</p><p>In this regard, Li Bin, CEO of Nio, once said that the state's mandatory requirement for passenger cars to paste the name of manufacturer is out of date. For start-ups in the brand cultivation period, this regulation adds additional difficulty and also increases communication costs.</p><p>In other words, at that time, automobile OEM was still in the gray area of supervision.</p><p>It was not until December 2018 in the \"Measures for the Administration of Road Motor Vehicle Manufacturers and Product Access\" that the Ministry of Industry and Information Technology affirmed the automobile OEM model at the policy level for the first time, and also put forward new requirements. For example, new car companies that have not obtained production qualifications need to produce 30,000 vehicles by OEM before they are eligible to apply for qualifications and build factories.</p><p>The draft OEM management measures have not yet been released. However, in May 2020, at the second \"Ministerial Channel\" question-and-answer press conference of the Third Session of the 13th National People's Congress, Miao Wei, Minister of the Ministry of Industry and Information Technology, mentioned the orderly liberalization of OEM production of new energy companies, as well as the research and development of innovative new energy vehicle companies, implement brand authorization pilots.</p><p><img src=\"https://static.tigerbbs.com/d8124e0022f80c4d05da77d77d848146\" tg-width=\"550\" tg-height=\"445\" referrerpolicy=\"no-referrer\">At present, there are 18 companies on the market that have obtained this qualification. Source: According to public information, Tram Exchange</p><p>The process of applying for qualifications is slow and full of uncertainties, and the faster and more expensive way is to directly acquire an already qualified company. Zhao Gang, vice president of Leapmotor, once said, \"In the industry now, a qualification is about 400 million.\"</p><p>This price does not include the invisible debt behind the acquisition company that is difficult to figure out. For example, in September 2018, BYTON 1 yuan acquired FAW Huali and took over the latter's 800 million yuan debt. Later, BYTON couldn't raise money, and it was busy paying off debts due to money shortage.</p><p>Later,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Acquired Chongqing Lifan, and Evergrande acquired Guoneng. For new companies, there are fewer and fewer qualifications that can be acquired, and the asking price of suitable qualifications will only be higher.</p><p>Nio insists on the OEM model. Its co-founder Qin Lihong once said, \"We also like qualifications, but if you ask me to spend 1 billion to buy an empty shell, I will definitely not do it. We will not obtain production qualifications by acquiring shell resources.\"</p><p>In September last year, the application conditions for the second license were also relaxed.</p><p>In September 2020, the new regulations of the Ministry of Industry, Information and Information Technology of China's \"Regulations on the Administration of New Energy Vehicle Manufacturers and Product Access\" deleted the requirement of \"design and development capabilities\". In other words, if technology companies such as Xiaomi or Baidu want to apply for a company to build electric vehicles, they are no longer required to independently develop core technologies-batteries, motors and electronic controls.</p><p>Song Jian, executive vice president of Tsinghua University Automotive Engineering Development Research Institute, believes that the new regulations have lowered the entry threshold for enterprises and their products, and more new players are bound to enter the market to build cars, especially RMB players.</p><p>They can buy R&D technology, production technology, safety technology, etc., and even directly buy a traditional car factory, and successfully put products with reliable quality and users' favorite products on the market.</p><p>But after entering 2020, China's electric vehicle market has become cruel. No matter how fast the production car is pushed, the window period has closed. With the end of subsidies and the introduction of foreign capital, new companies are bound to face more intense competition. Xiaomi, Baidu, and Didi may face competitors not only Tesla, Nio, and XPeng, but also Volkswagen, General Motors, and Toyota.</p><p><b>The stepping stone to building a car is still a bit hard</b></p><p>Generally speaking, new companies will concentrate their superior resources to make a good car, and then push new models at a certain frequency. Tesla spent three years polishing the Model S before launching a new car in two years. Nio, Ideal, and XPeng also spent about four years each building their first production car.</p><p>But not all companies can succeed. If you are willing to spend money, you may not be able to build a good car. Dyson, which built hair dryers, spent four years and 2.5 billion pounds (about 22.7 billion yuan) to abandon its car-building plan.</p><p>Dyson and Old<a href=\"https://laohu8.com/S/GLP\">Partners Global</a>Peter Gammack, vice president of design and technology, personally checked the body design, trial and error. But car design pays attention to precision, and the learning curve is steep. Therefore, they also hired many people in the auto industry to point out the problems.</p><p>Since 2016, Dyson has added two more automotive professionals to its board of directors. Comprising,<a href=\"https://laohu8.com/S/AMLN.UK\">Aston Martin</a>Ian Minards, former chief engineer, and Ian Robertson, a key supporter of BMW's electric vehicle plan.</p><p><img src=\"https://static.tigerbbs.com/647a748492535a79d1257995c247452e\" tg-width=\"550\" tg-height=\"364\" referrerpolicy=\"no-referrer\">Dyson Concept EV</p><p>Even with a bunch of automotive professionals checking the gate, the Dyson concept car still adopts a series of radical designs. Including a low roof, larger wheels, frameless window glass, and a \"suicide\" door that only luxury cars are equipped with.</p><p>In addition to research and development and planning of new models, OEMs are also responsible for integrating complete vehicles. The supplier is responsible for developing and producing parts. Although the number of parts of electric vehicles is smaller than that of fuel vehicles, every innovative design will increase the difficulty and cost of supplier development. The difficulty for OEMs to manage suppliers will also increase exponentially.</p><p>For big tires alone, Dyson has discussed the feasibility with several suppliers. In the end, only two tire manufacturers felt it could be done-Princestone of Japan and Michelin of France.</p><p>The more special design is inside the car. Dyson hired a group of engineers who had never been exposed to automobile air-conditioning systems, and built a set that could heat and cool this 7-seat SUV in zones, and also save electricity.</p><p>In addition to the body design, there is no need to stop to charge during urban journeys, and longer battery life is also the main selling point of Dyson. To this end, they have to independently develop suspension for more batteries, and make more space on it.</p><p>Similar to Dyson, major Chinese technology companies may not have to worry about brand appeal, and powerful suppliers are happy to cooperate. However, once the cost of difficult car design exceeds expectations, one car will lose money, and no amount of money will be able to fill the hole.</p><p>They may also fail to deliver goods on schedule, do not meet quality requirements, and have unclear standards, resulting in delays in projects. In China, the 15 engineering prototype vehicles handed over to the Ministry of Industry and Information Technology for inspection still need to meet safety regulations, and a professional team must know how to communicate with national ministries and commissions.</p><p>Due to the different sizes and processes of each model, the requirements for the production line are also different. Car companies usually put one or two models in one factory for centralized production. Leaner to invest and manage. To this end, Dyson specially purchased and repaired an airport, its warehouse and runway.</p><p>For new companies, if a new factory is put into production, it is necessary to synchronize the progress of civil engineering, including obtaining environmental impact assessment, fire protection, and civil engineering accreditation qualifications. Imported equipment should also follow up logistics. Once any link gets stuck, the capital flow needs to keep up.</p><p>In the end, James Dyson once lamented to the reporter of the Financial Times that he spent a lot of effort on research and development, but finally found that the mass production cost was too high. Batteries, battery management, electronics and cooling systems are much more expensive than internal combustion engines. \"To level the income and expenditure, an electric car has to sell at least $300,000.\"</p><p>It is already easier to mass-produce high-end models than low-end models. Buy one<a href=\"https://laohu8.com/S/RRN.UK\">Rolls-Royce</a>People believe in manufacturing technology; People who buy a Toyota Corolla are after failure-free, fuel-efficient and smooth. With an annual output of hundreds of thousands, reliability is the primary goal of automobiles.</p><p>In February of this year, Tesla CEO Musk also admitted that it is difficult to ensure that the details do not go wrong when the production capacity is ramping up. In a public interview, he advised consumers to either buy at the beginning or wait until the output stabilizes before buying.</p><p>A person close to Xiaomi's automobile research project once told Caixin that Xiaomi pursues cost-effectiveness, and it is likely to build cars in volume. Therefore, mass production is very important. But can car companies fully supply? Can supply chains such as batteries and chips keep up? I'm afraid the car companies themselves cannot guarantee these problems.</p><p>It is still a complicated project for a technology company to build a car that will continue to drive in rain, snow, wind and snow for 15 years.</p><p><b>Now no one has found a better way to make money except selling cars</b></p><p>In the era of fuel vehicles, traditional car manufacturers have established a 4S store distribution network to make a fortune when selling complete vehicles and another when repairing and maintaining them. Moreover, selling accessories is far more profitable than selling complete vehicles. In addition, supporting auto finance, such as loans to buy cars, is also an important source of profit.</p><p>An electric vehicle is more like an electronic device and requires less maintenance. Direct store sales can indeed ensure the sales experience and maximize profits. Looking at Tesla's 2020 books, the revenue was US $31.5 billion, 94% of which came from selling cars. The remaining 6% comes from selling regulatory points, software, and even brand peripherals.</p><p>Every extra car sold will dilute the cost of developing a model. However, since selling cars for 12 years, Tesla has suffered losses so far. Last year, it made $721 million by selling environmental supervision points to traditional car manufacturers. The previous year, it still lost $862 million on the books.</p><p>It seems that the era of electric vehicles has not yet arrived.</p><p>For consumers, purchasing electric vehicles may not be the best choice at this stage. \"Car Review No. 38\" once calculated that in China, if car purchase and electricity price subsidies are not considered, and depreciation is included, buying an electric vehicle is not more cost-effective than a fuel vehicle at this stage.</p><p><img src=\"https://static.tigerbbs.com/da93ed97c8c172097f872e34eed8f4f2\" tg-width=\"550\" tg-height=\"295\" referrerpolicy=\"no-referrer\"></p><p>Most of the reasons why people buy electric vehicles do not come from the manufacturer's product strength itself. In the 2021 McKinsey China Automobile Consumption Report, more than half of consumers' willingness to buy electric vehicles is based on some controversial views.</p><p>For example, 68% of respondents believe that electric vehicles are more environmentally friendly. However, until there is better battery recycling technology, electric vehicles are not necessarily more environmentally friendly.</p><p>Driven by policies such as environmental protection, battery costs have not dropped, and technology companies' cross-border manufacturing of electric vehicles cannot completely subvert the traditional automobile industry. But only when more people use their own hardware will they be likely to make money from technology in the future.</p><p>Last year, Tesla won the sales championship in China's pure electric vehicle market, selling 137,000 Model 3s. According to Wang Yongqing, general manager of Shanghai GM, it is difficult for traditional car companies to give up 95% of the existing fuel vehicle market. For pure electric vehicles with distinctive characteristics, the cash flow brought by higher selling prices can also support their bold application of new technologies.</p><p><img src=\"https://static.tigerbbs.com/2ec80237966c03fbc31c3e4dba9586fd\" tg-width=\"550\" tg-height=\"309\" referrerpolicy=\"no-referrer\">Top 10 best-selling pure electric vehicle models in China in 2020 Data source: China Association of Automobile Manufacturers</p><p>Building and selling cars is just a stepping stone. What is more noteworthy is that major technology companies are developing autonomous driving technology.</p><p>In December 2020, there were constant rumors<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Finally, there are new rumors about the construction plan. Apple is indeed still working on a complete vehicle. This may be a self-driving car based on the modern electric vehicle platform E-GMP. The car chip has evolved from the A12 bionic chip and is equipped with breakthrough battery technology.</p><p>May be involved in Xiaomi's car manufacturing<a href=\"https://laohu8.com/S/688169\">Stone Technology</a>, is also independently developing multi-line lidar. This technology can be used not only in its flagship product, sweeping robots, but also in self-driving cars. The Jihu Alpha S equipped with Huawei'S ADS autonomous driving system has been unveiled at the Shanghai Auto Show and is expected to be delivered within this year.</p><p>Tesla, Uber, Google, and Apple have all envisioned the same future.</p><p>Robots will eventually rule the transportation industry. Unmanned vehicles carry passengers on the road and through the air, and drones are responsible for delivering goods. And companies with driverless technology will be at the center of all this. Better integration of hardware, software and services will become its core competitiveness.</p><p>By then, as Tesla CEO elon musk once envisioned-the company's profit growth will mainly come from self-driving travel services and paid software. If then, Tesla would still be the best-selling smart electric car brand.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://finance.sina.com.cn/tech/csj/2021-04-20/doc-ikmyaawc0804418.shtml\">锐问 Record</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/747a43d33fdea5605f94cd4071257af1","relate_stocks":{"BIDU":"百度","AAPL":"苹果","01810":"小米集团-W","09888":"百度集团-SW"},"source_url":"http://finance.sina.com.cn/tech/csj/2021-04-20/doc-ikmyaawc0804418.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115381700","content_text":"最近半年，中国汽车业的头条新闻都来自科技大公司。4月19日正式开幕的上海车展也不例外。\n声称不造车，想做一级供应商的智能手机厂商华为，这天联合北汽极狐（ARCFOX）发布了定制的新车型。上汽和阿里联合打造的智已汽车也要发布首款量产车。\n和过去5年里，投资造车新势力不同，智能手机厂商小米和互联网大公司百度，都要亲自下场造车。未来，这个队伍可能还有滴滴出行。\n科技巨头们越来越迫切需要一个新领域，成为智能手机时代之后的新增长点。智能电动汽车是它们找的新方向之一。\n但从投资到亲自造车，想要实现这一愿望变容易了么？\n加入中国电动车俱乐部，要先搞定2张门票\n在中国，想要像特斯拉一样造智能纯电动汽车，新公司首先需要两块牌照。一块用来建厂造车，由国家发改委主导；一块用来建公司，卖车，归工信部管。\n成为双资质电动车企，一共分几步？信息来源：发改委、工信部\n但申请条件似乎在逐渐放宽。\n第一块牌照很难拿。2017年6月，中国新能源汽车产能过剩的争议中，发改委不再公布新项目审批信息，一度传出审批实质上已暂停的消息。现在，即使新公司建厂造车的准入重新开放，它们也面临耗时的审批周期。\n可也不是完全没有解决方案。金杜律师事务所合伙人姚丽娟认为，申请生产资质的话，已经有整车或者零部件制造经验的传统车厂会更容易些。除了独立申请资质外，对造车新势力来说，还可以选择代工生产或者直接收购现有汽车生产企业。\n其中，汽车代工模式正在逐渐被政策认可。\n2018年5月，蔚来交付首批量产ES8以来，陆续出现过车主抠“江淮”尾标。因为照2005年施行的《汽车产品外部标识管理办法》，车尾必须出现代工厂品牌。\n对此，蔚来CEO李斌曾表示，国家强制要求乘用车粘贴生产企业名称的规定已经不合时宜，对于处在品牌培育期的初创企业，这项规定增加了额外的难度，同时也增加了沟通成本。\n换句话说，当时汽车代工还在监管的灰色地带。\n直到2018年12月《道路机动车辆生产企业及产品准入管理办法》中，工信部才首次在政策层面肯定了汽车代工模式，同时也提了新要求。比如，未获得生产资质的新造车企业需先代工生产3万辆，才有资格申请资质以及建设工厂。\n代工管理办法草案目前尚未出台。不过，2020年5月，第十三届全国人大三次会议第二场“部长通道”问答记者会上，工信部部长苗圩提到，有序放开新能源企业代工生产，以及对于研发创新型新能源汽车企业，实行品牌授权试点。\n目前，市面上拿到这一资质的公司共18家。来源：据公开信息整理，电车汇\n申请资质进程缓慢，充满不确定性，而更快，也更花钱的办法是直接收购一家已经有资质的公司。零跑汽车副总裁赵刚曾表示，“现在行业里，一个资质大概4个亿。”\n这一价格不包括收购企业背后难以摸清的隐形债务。比如，2018年9月，拜腾1元收购一汽华利，接管后者8亿元债务。后来，拜腾融不到钱，闹钱荒还要忙着还债。\n后来，理想汽车收购重庆力帆，恒大收购国能。对新入场的公司而言，可收购的资质已经越来越少，其中合适的资质要价只会更高。\n而蔚来坚持代工模式。其联合创始人秦力洪曾表示，“资质我们也喜欢，但你让我花10个亿去买个空壳，我肯定不干。我们不会通过收购壳资源获得生产资质。”\n去年9月，第二块牌照的申请条件也放宽了。\n2020年9月，中国工信和信息化部《新能源汽车生产企业及产品准入管理规定》新规，删除了关于“设计开发能力” 的要求。也就是说，小米或者百度这些科技公司想要申请一家公司造电动车，不再要求必须自主研发核心技术——电池、电机和电控。\n清华大学汽车工程开发研究院常务副院长宋健认为，新规降低了企业及其产品的准入门槛，更多新玩家势必进场造车，特别是人民币玩家。\n他们能购买研发技术、生产技术、安全技术等，甚至直接买下一家传统车厂，顺利将质量可靠、用户喜爱的产品投向市场。\n可进入2020年后，中国电动汽车市场变得残酷起来。量产车推得再快，窗口期也已经关闭。补贴结束，外资引入，新公司势必面临更激烈的竞争。小米、百度、滴滴可能面对的竞争对手，不只有特斯拉、蔚来、小鹏，还有大众、通用和丰田。\n造车这块敲门砖，还是有点硬\n一般来说，新入场的公司会集中优势资源做好一辆车，再按照一定频率推新车型。特斯拉花3年打磨 Model S，才开始两年推一款新车。蔚来、理想、小鹏也各自花了约4年时间打造第一款量产车。\n但不是所有公司都能成功。肯花钱也不一定能造好车。造电吹风的戴森耗了四年时间，花了25亿英镑（约227亿元人民币），放弃了造车计划。\n戴森和老伙伴全球设计和技术副总裁彼得·盖马克（Peter Gammack）亲自把关车身设计，反复试验。但汽车设计讲究精度，学习曲线陡峭。因此，他们还聘用了很多汽车业人士，用来指出问题所在。\n2016年起，戴森董事会里多了两位汽车专业人士。包括，阿斯顿马丁前总工程师Ian Minards和宝马电动车计划的重要支持者Ian Robertson。\n戴森概念电动车\n即使有一帮汽车专业人士把关，戴森概念车还是采用了一系列激进的设计。包括低矮的车顶、更大的车轮、无框的窗玻璃，以及豪车才会配置的“自杀”门。\n除了研发、规划新车型，主机厂还要负责集成整车。而供应商负责开发、生产零部件。虽然电动汽车的零部件数量比燃油车要少，但每一个创新的设计，都会增加供应商开发难度和成本。主机厂管理供应商的难度，也会指数级上升。\n光是大轮胎，戴森就和好几家供应商讨论过可行性。最后只有两家轮胎制造商觉得可以做到——日本的普林斯通和法国的米其林。\n更特别的设计在汽车内部。戴森请了一批从未接触过汽车空气调节系统的工程师，搞了一套能给这辆7座SUV分区加热、制冷的，而且还要做到省电。\n除了车身设计，不用在城市旅途中停下来充电，更长的续航时间也是戴森汽车主打的卖点。为此，他们不得不为更多的电池，自主研发悬架，并在上面腾出更多的空间。\n和戴森类似，中国科技大公司或许也不用担心品牌号召力，有实力的供应商乐得合作。但高难度的汽车设计，一旦成本超出预期，造一台亏一台，有多少钱都填不上这个窟窿。\n它们还有可能无法如期交货，不按质量要求行事，标准扯不清楚，导致项目一拖再拖。在中国，交给工信部检验的15辆工程样车，还需要满足安全法规，要有专业团队懂得和国家部委上下沟通。\n由于每款车型的尺寸、工艺不同，对生产线的要求也不同。车企通常会把一、两个车型放在一个工厂集中生产。投资和管理起来更加精益。为此，戴森专门购买并修复了一座机场，及其仓库和跑道。\n对新公司来说，如果有新厂投产，还要同步土建进度，包括拿到环评，消防，土建认可资格。进口设备也要跟进物流。一旦哪个环节卡壳，资金流需要跟得上。\n最终，詹姆斯·戴森曾对《金融时报》的记者感慨，花了很多力气研发，但最后发现量产成本太高了。电池，电池管理，电子设备和冷却系统比内燃机要贵得多。“要收支打平，电动车至少得卖30万美元一辆。”\n而量产高端车型已经比中低端车型容易。买一辆劳斯莱斯的人，信奉的是制造工艺；买一辆丰田卡罗拉的人，追求的是不出故障、省油和平顺。年产数十万以后，可靠性是汽车的首要目标。\n今年2月，特斯拉CEO马斯克也承认，在产能爬坡时，保证细节不出错很难。他曾在公开采访中，建议消费者，要么一开始就买，要么等产量稳定下来再买。\n一位接近小米汽车调研项目的人士曾对《财新》表示，小米追求性价比，它造车大概率要走量的。因此规模量产很重要。但车企能否充分供应？电池、芯片等供应链是不是能跟上？这些问题恐怕车企自己都无法保证。\n科技公司要制造一辆要在雨雪、风雪中持续行驶15年的汽车，至今仍是一项复杂的工程。\n现在除了卖车，没谁找到更好的赚钱办法\n燃油车时代，传统车厂建立4S店经销网络，卖整车时赚一笔钱，维修保养时再赚一笔。而且，卖配件远比卖整车更赚钱。除此之外，配套的汽车金融，比如贷款买车，也是其重要的利润来源。\n电动车更像一台电子设备，不太需要保养。直接开店销售的确更能保证销售体验和利润最大化。翻开特斯拉2020年的账簿，收入315亿美元，其中94%正来自卖车。剩下6%来自出售监管积分、卖软件，甚至是卖品牌周边。\n每多卖一辆车，就会摊薄研发一个车型的成本。不过，卖车12年以来，特斯拉亏损至今。去年，它靠把环保监管积分卖给传统车厂，才赚了7.21亿美元。前一年还账面上都还亏着8.62亿美元。\n属于电动汽车的时代似乎还没有来。\n对消费者来说，现阶段，购置电动车可能也还不是最优选择。《38号车评》曾测算过，在中国，如果不考虑购车和电价补贴，算上折旧，现阶段买电动车并不比燃油车划算。\n\n人们购买电动车的理由，大多还不来自制造商的产品力本身。2021年麦肯锡中国汽车消费报告中，过半的消费者购买电动车的意愿，基于一些尚存争议的观点。\n例如，68%的受访者认为，电动车更环保。然而，在没有更好的电池回收技术前，电动车不一定更环保。\n环保等政策驱动下，电池成本没降下来，科技公司跨界造电动汽车还不能完全颠覆传统的汽车行业。但也只有当更多人使用自己的硬件时，它们未来才有可能靠技术赚钱。\n去年，特斯拉在中国纯电动车市场拿了个销售冠军，卖掉了13.7万辆Model 3。在上海通用总经理王永清看来，传统车企很难放弃现有95%的燃油车市场。而特点鲜明的纯电动车，较高售价带来的现金流，还能支撑其大胆应用新技术。\n2020年，中国卖得最好的纯电动车车型Top10  数据来源：中国汽车工业协会\n造车，卖车只是一块敲门砖。更值得留意的是，科技大公司都正在研发自动驾驶技术。\n2020年12月，一直传言不断的苹果造计划终于有了新传言。苹果确实仍在开发一款整车。这可能是一款基于现代电动车平台E-GMP的自动驾驶汽车，汽车芯片由A12仿生芯片进化而来，并搭载突破性的电池技术。\n可能参与小米造车的石头科技，也正在自主研发多线激光雷达。这一技术既可以用于其主打产品扫地机器人，也许还能用在自动驾驶汽车上。而搭载华为ADS自动驾驶系统的极狐阿尔法S已经亮相上海车展，预计今年年内交付。\n特斯拉、Uber、Google、苹果都曾设想过同一个未来。\n机器人最终会统治交通运输业。无人车载着乘客在道路上和空中穿梭，无人机负责送货。而拥有无人驾驶技术的公司将成为这一切的中心。更好的硬件，软件和服务集成在一起会成为其核心竞争力。\n到时，像特斯拉CEO埃隆·马斯克曾设想的那样——公司利润增长将主要来源于自动驾驶出行服务和付费软件。如果那时，特斯拉还是卖得最好的智能电动汽车品牌。","news_type":1,"symbols_score_info":{"09888":0.9,"BIDU":0.9,"01810":0.9,"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":2226,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":373139540,"gmtCreate":1618829314380,"gmtModify":1704715462441,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"6666666","listText":"6666666","text":"6666666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/373139540","repostId":"1159886435","repostType":4,"repost":{"id":"1159886435","kind":"news","pubTimestamp":1618824851,"share":"https://ttm.financial/m/news/1159886435?lang=en_US&edition=fundamental","pubTime":"2021-04-19 17:34","market":"us","language":"zh","title":"Nio CEO Li Bin: Optimistic about electric vehicle sales this year","url":"https://stock-news.laohu8.com/highlight/detail?id=1159886435","media":"新浪财经","summary":"蔚来汽车CEO李斌表示，3月份是中国智能电动汽车市场的里程碑，电动汽车首次占到新车销量的10%以上；购买电动汽车的个人用户越来越多，这是一个很好的开始。李斌表示对今年的市场非常乐观，包括下半年。\n此外","content":"<p><a href=\"https://laohu8.com/S/NIO\">Nio</a>Automobile CEO Li Bin said that March was a milestone in China's smart electric vehicle market, with electric vehicles accounting for more than 10% of new car sales for the first time; The growing number of individual users buying electric vehicles is a great place to start. Li Bin said that he is very optimistic about the market this year, including the second half of the year.</p><p>In addition, Li Bin also mentioned that established car brands are also launching competitive products, but in general, they are latecomers in the field of smart electric vehicles, and there is still a lot of work to be done. Xiaomi, Huawei and<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Technology companies are also entering the market. This market needs to be viewed holistically and competition is welcomed because it can promote innovation. Many new companies are entering the market, but this is a very long-term market.</p><p>At the on-site meeting of the 2021 Shanghai Auto Show, Nio Automobile Li Bin also told the media that the manufacturing and testing work of the ET7 is in full swing. Up to now, Nio has deployed a total of 203 battery swap stations, 144 supercharging stations, nearly 1,100 supercharging piles, more than 1,800 destination charging piles, and more than 380,000 third-party fast charging piles have been connected across the country.</p>","source":"XLCJ","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>Nio CEO Li Bin: Optimistic about electric vehicle sales this year</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\">\nNio CEO Li Bin: Optimistic about electric vehicle sales this year\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\">2021-04-19 17:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p><a href=\"https://laohu8.com/S/NIO\">Nio</a>Automobile CEO Li Bin said that March was a milestone in China's smart electric vehicle market, with electric vehicles accounting for more than 10% of new car sales for the first time; The growing number of individual users buying electric vehicles is a great place to start. Li Bin said that he is very optimistic about the market this year, including the second half of the year.</p><p>In addition, Li Bin also mentioned that established car brands are also launching competitive products, but in general, they are latecomers in the field of smart electric vehicles, and there is still a lot of work to be done. Xiaomi, Huawei and<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Technology companies are also entering the market. This market needs to be viewed holistically and competition is welcomed because it can promote innovation. Many new companies are entering the market, but this is a very long-term market.</p><p>At the on-site meeting of the 2021 Shanghai Auto Show, Nio Automobile Li Bin also told the media that the manufacturing and testing work of the ET7 is in full swing. Up to now, Nio has deployed a total of 203 battery swap stations, 144 supercharging stations, nearly 1,100 supercharging piles, more than 1,800 destination charging piles, and more than 380,000 third-party fast charging piles have been connected across the country.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.sina.com.cn/7x24/2021-04-19/doc-ikmxzfmk7701918.shtml\">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/feebf0ff4401232c3ecc332f566f18e0","relate_stocks":{"NIO":"蔚来"},"source_url":"https://finance.sina.com.cn/7x24/2021-04-19/doc-ikmxzfmk7701918.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159886435","content_text":"蔚来汽车CEO李斌表示，3月份是中国智能电动汽车市场的里程碑，电动汽车首次占到新车销量的10%以上；购买电动汽车的个人用户越来越多，这是一个很好的开始。李斌表示对今年的市场非常乐观，包括下半年。\n此外，李斌还提到，老牌汽车品牌也在推出有竞争力的产品，但总的来说，他们是智能电动汽车领域的后来者，还有很多工作要做。小米、华为和百度等科技公司也在进入市场。需要全面看待这个市场，欢迎竞争，因为这可以促进创新。许多新公司正在进入市场，但这是一个非常长期的市场。\n在2021上海车展现场会上，蔚来汽车李斌还向媒体表示，ET7的生产制造及测试工作正紧锣密鼓的展开。截至目前，蔚来已在全国累计部署203座换电站，144座超充站，近1100根超充桩，超过1800根目的地充电桩，并且接入了超过38万根第三方快充桩。","news_type":1,"symbols_score_info":{"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":1858,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":373139183,"gmtCreate":1618829297842,"gmtModify":1704715461471,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"666666","listText":"666666","text":"666666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/373139183","repostId":"2128867739","repostType":4,"repost":{"id":"2128867739","kind":"news","pubTimestamp":1618825029,"share":"https://ttm.financial/m/news/2128867739?lang=en_US&edition=fundamental","pubTime":"2021-04-19 17:37","market":"us","language":"zh","title":"What is Nio's intention to join hands with Sinopec?","url":"https://stock-news.laohu8.com/highlight/detail?id=2128867739","media":"Donews","summary":"4月15日，造车新势力代表品牌蔚来汽车官方宣布，旗下第二代换电站在北京中石化朝英站正式落成。据介绍，这是蔚来汽车与中国石化合作建设的首座换电站。\n蔚来方面介绍，蔚来第二代换电站是全球首个量产实现车辆自","content":"<p>On April 15, representative brands of new car-making forces<a href=\"https://laohu8.com/S/NIO\">Nio</a>Automobile officially announced that its second-generation battery swap station is in Beijing<a href=\"https://laohu8.com/S/SNP\">Sinopec</a>Chaoying Station was officially completed. According to reports, this is Nio Automobile and<a href=\"https://laohu8.com/S/600028\">Sinopec</a>The first battery swap station jointly constructed.</p><p>According to Nio, Nio's second-generation battery swap station is the world's first mass-produced battery swap station to realize automatic parking of vehicles. It is a software-defined device-cloud combination<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Battery swap system. A total of 239 sensors and 4 cloud systems are deployed throughout the second-generation battery swap station to work together to comprehensively deepen the application of visual recognition technology.</p><p>Nio's second-generation battery swap station adopts visual fusion positioning technology, uses leading deep learning AI algorithms, combined with trajectory planning control algorithms, and motor torque control technology individually adapted to the ramp of the battery swap station to realize AVP automatic parking and entry. Nio car owners can use this battery swap station to realize functions such as AVP automatic parking and entry, one-click self-service battery swap in the car, and automatic adjustment of vehicle posture.</p><p>The battery swap station adopts the SAP flexible battery swap platform. After automatically identifying the wheelbase of the vehicle model, it adjusts the position of the wheel's Y-direction positioning V-groove, and is compatible with battery swapping of vehicles with different wheelbases. The unlocking electric platform combined with VI technology for precise positioning can achieve visual judgment in 1 second, correction and alignment in 10 seconds, and unlocking in 20 seconds. Fully automatic control can quickly complete battery unlocking.</p><p>It is reported that the battery compartment of Nio's second-generation battery swap station can accommodate 13 batteries, and the daily service capacity of a single station can reach 312 times. It also adopts a constant temperature 22-degree water cooling system in the whole warehouse to ensure that the charging speed and safety of the batteries in the station are not affected by temperature. Reasonably utilize the space at the bottom next to the battery swap platform, increase the recycled battery cache compartment, and double the transmission time.</p><p>For a long time, there have been many disputes about the battery swap mode of electric vehicles. In the early stage of popularization of electric vehicles, there were frequent accidents after battery replacement.<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>It only made a short-term attempt, and only Nio insisted on battery replacement.</p><p>Now, Nio and Sinopec have joined forces to exchange electricity. What does it intend to do? What does this model of combining oil and electricity mean?</p><p>Range anxiety of electric vehicles</p><p>The problem of mileage anxiety is very obvious in the early stages of electric vehicle development. Especially when the temperature is low, it is easy for electric vehicles to suddenly run out of power. Electric vehicles parked halfway through the road often become a street scene.</p><p>On the one hand, the range anxiety of electric vehicles comes from the endurance of electric vehicles themselves. The other aspect comes from charging time. In the early days, the battery life of electric vehicles was often 300 kilometers in the official test, but it actually ran more than 200 kilometers. When the weather was cold, it was discounted. In the end, I was afraid to go to the suburbs, not to mention running long distances.</p><p>Later, with the advancement of battery technology and motor technology, especially the extensive application of high-energy batteries, the battery life of electric vehicles is now generally very long, with 500 kilometers and 600 kilometers already very common. Although the danger of the battery has been compromised, the battery life is no longer a big problem.</p><p>In contrast, the problem of fast charging has not improved so much. It is not that charging cannot be done so fast, but that super fast charging requires too high power infrastructure.</p><p>Tesla's super fast charging requires 250KW. If a few of these charging piles are placed in the community, the capacity of the community will be full. Difficult to popularize.</p><p>Moreover, even if it is called super fast charging, this super fast charging is still slow compared to the refueling speed. Compared with slow charging overnight, fast charging takes 30 minutes and 1 hour is already super fast.</p><p>However, it only takes a few minutes to refuel. When it comes to long-distance travel, after running hundreds of kilometers on the highway, even if there is a super fast charging station and no other cars occupy the charging position, you still have to wait for an hour.</p><p>This has caused electric vehicles to run long distances with tenterhooks, poor planning, and trouble if the distance is too far. This kind of range anxiety is difficult to alleviate, and only by replacing batteries can it compete with refueling.</p><p>Only when battery replacement is popularized can the problem of mileage anxiety be solved.</p><p>Nio's Abacus</p><p>Tesla's success lies in the fact that Tesla sells charging and cars together, which solves the problem of user charging. Tesla's own battery life and parking space charging can meet daily car needs.</p><p>However, when it comes to long distances, Tesla still has some problems.</p><p>To charge on long-distance roads, you must first find a place to install charging piles on the highway, then connect electricity, and slowly distribute them along the highway. This difficulty is very great for a car company.</p><p>However, due to the demand for fuel vehicles, there are gas stations all the way on the highway. Gas stations are available every once in a while. Gas stations also have plenty of space for vehicles to enter and exit.</p><p>Nio used the site of Sinopec gas station through cooperation. This abacus is too precise.</p><p>Unlike charging stations, Nio's battery swap mode only takes a few minutes to replace the battery, and the replaced battery can be charged slowly</p><p>In this way, there is no problem of queuing up for charging.</p><p>Electric vehicle battery swapping is a very dangerous job, but Nio was designed to swap batteries from the beginning, and implemented automatic battery swapping in the second-generation battery swapping station, so that there is no need to arrange many technicians.</p><p>Nio's second-generation battery swap station is equivalent to a battery swap vending machine, but it only uses Sinopec's site. This system is unique to the brand. It constitutes a very large competitive advantage for Nio's electric vehicles.</p><p>Except for gasoline-electric hybrid models, other pure electric models cannot compete with Nio. This is a big benefit to Nio's car sales.</p><p>There are certain hidden concerns about security</p><p>At present, Nio still uses ternary batteries. Although ternary battery packs are well protected, there are still some dangers.</p><p>Moreover, in the battery swap mode, Nio does not know whether the replaced battery pack has any problems such as collisions during driving.</p><p>The earliest fire problem in Tesla was because a hard object on the ground touched the battery pack, causing a short circuit.</p><p>In addition, during the charging and discharging process, it is also the time when the battery pack is prone to thermal runaway.</p><p>All domestic electric vehicles have had problems.</p><p>Nio's second-generation battery swap station has 13 battery packs together. If one of these battery packs goes wrong, it can easily trigger a chain reaction. The energy of the battery pack is huge, and because the thermal decomposition and combustion of ternary materials can be self-sustaining and do not require external oxygen, once a fire breaks out, it will be very violent and difficult to put out the fire.</p><p>Therefore, the electric vehicle fire accidents we saw and the burned wreckage were very ugly. There's nothing left after it's burned.</p><p>The gas station is precisely a place where fireworks are strictly prohibited. If there is a problem with the battery in the electric vehicle or charging station, causing a gas station fire, the consequences will be devastating.</p><p>Therefore, this cooperation has certain potential safety hazards, and it is necessary to isolate and protect the second-generation batteries with sufficient safety.</p><p>Gas stations should also carry out risk protection for battery swap stations. It is necessary to ensure that in the extreme case of all 13 batteries burning and exploding, gas stations have enough space and protection to isolate battery swap stations.</p>","source":"dns","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>What is Nio's intention to join hands with Sinopec?</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\">\nWhat is Nio's intention to join hands with Sinopec?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Donews</strong><span class=\"h-time small\">2021-04-19 17:37</span>\n</p>\n</h4>\n</header>\n<article>\n<p>On April 15, representative brands of new car-making forces<a href=\"https://laohu8.com/S/NIO\">Nio</a>Automobile officially announced that its second-generation battery swap station is in Beijing<a href=\"https://laohu8.com/S/SNP\">Sinopec</a>Chaoying Station was officially completed. According to reports, this is Nio Automobile and<a href=\"https://laohu8.com/S/600028\">Sinopec</a>The first battery swap station jointly constructed.</p><p>According to Nio, Nio's second-generation battery swap station is the world's first mass-produced battery swap station to realize automatic parking of vehicles. It is a software-defined device-cloud combination<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Battery swap system. A total of 239 sensors and 4 cloud systems are deployed throughout the second-generation battery swap station to work together to comprehensively deepen the application of visual recognition technology.</p><p>Nio's second-generation battery swap station adopts visual fusion positioning technology, uses leading deep learning AI algorithms, combined with trajectory planning control algorithms, and motor torque control technology individually adapted to the ramp of the battery swap station to realize AVP automatic parking and entry. Nio car owners can use this battery swap station to realize functions such as AVP automatic parking and entry, one-click self-service battery swap in the car, and automatic adjustment of vehicle posture.</p><p>The battery swap station adopts the SAP flexible battery swap platform. After automatically identifying the wheelbase of the vehicle model, it adjusts the position of the wheel's Y-direction positioning V-groove, and is compatible with battery swapping of vehicles with different wheelbases. The unlocking electric platform combined with VI technology for precise positioning can achieve visual judgment in 1 second, correction and alignment in 10 seconds, and unlocking in 20 seconds. Fully automatic control can quickly complete battery unlocking.</p><p>It is reported that the battery compartment of Nio's second-generation battery swap station can accommodate 13 batteries, and the daily service capacity of a single station can reach 312 times. It also adopts a constant temperature 22-degree water cooling system in the whole warehouse to ensure that the charging speed and safety of the batteries in the station are not affected by temperature. Reasonably utilize the space at the bottom next to the battery swap platform, increase the recycled battery cache compartment, and double the transmission time.</p><p>For a long time, there have been many disputes about the battery swap mode of electric vehicles. In the early stage of popularization of electric vehicles, there were frequent accidents after battery replacement.<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>It only made a short-term attempt, and only Nio insisted on battery replacement.</p><p>Now, Nio and Sinopec have joined forces to exchange electricity. What does it intend to do? What does this model of combining oil and electricity mean?</p><p>Range anxiety of electric vehicles</p><p>The problem of mileage anxiety is very obvious in the early stages of electric vehicle development. Especially when the temperature is low, it is easy for electric vehicles to suddenly run out of power. Electric vehicles parked halfway through the road often become a street scene.</p><p>On the one hand, the range anxiety of electric vehicles comes from the endurance of electric vehicles themselves. The other aspect comes from charging time. In the early days, the battery life of electric vehicles was often 300 kilometers in the official test, but it actually ran more than 200 kilometers. When the weather was cold, it was discounted. In the end, I was afraid to go to the suburbs, not to mention running long distances.</p><p>Later, with the advancement of battery technology and motor technology, especially the extensive application of high-energy batteries, the battery life of electric vehicles is now generally very long, with 500 kilometers and 600 kilometers already very common. Although the danger of the battery has been compromised, the battery life is no longer a big problem.</p><p>In contrast, the problem of fast charging has not improved so much. It is not that charging cannot be done so fast, but that super fast charging requires too high power infrastructure.</p><p>Tesla's super fast charging requires 250KW. If a few of these charging piles are placed in the community, the capacity of the community will be full. Difficult to popularize.</p><p>Moreover, even if it is called super fast charging, this super fast charging is still slow compared to the refueling speed. Compared with slow charging overnight, fast charging takes 30 minutes and 1 hour is already super fast.</p><p>However, it only takes a few minutes to refuel. When it comes to long-distance travel, after running hundreds of kilometers on the highway, even if there is a super fast charging station and no other cars occupy the charging position, you still have to wait for an hour.</p><p>This has caused electric vehicles to run long distances with tenterhooks, poor planning, and trouble if the distance is too far. This kind of range anxiety is difficult to alleviate, and only by replacing batteries can it compete with refueling.</p><p>Only when battery replacement is popularized can the problem of mileage anxiety be solved.</p><p>Nio's Abacus</p><p>Tesla's success lies in the fact that Tesla sells charging and cars together, which solves the problem of user charging. Tesla's own battery life and parking space charging can meet daily car needs.</p><p>However, when it comes to long distances, Tesla still has some problems.</p><p>To charge on long-distance roads, you must first find a place to install charging piles on the highway, then connect electricity, and slowly distribute them along the highway. This difficulty is very great for a car company.</p><p>However, due to the demand for fuel vehicles, there are gas stations all the way on the highway. Gas stations are available every once in a while. Gas stations also have plenty of space for vehicles to enter and exit.</p><p>Nio used the site of Sinopec gas station through cooperation. This abacus is too precise.</p><p>Unlike charging stations, Nio's battery swap mode only takes a few minutes to replace the battery, and the replaced battery can be charged slowly</p><p>In this way, there is no problem of queuing up for charging.</p><p>Electric vehicle battery swapping is a very dangerous job, but Nio was designed to swap batteries from the beginning, and implemented automatic battery swapping in the second-generation battery swapping station, so that there is no need to arrange many technicians.</p><p>Nio's second-generation battery swap station is equivalent to a battery swap vending machine, but it only uses Sinopec's site. This system is unique to the brand. It constitutes a very large competitive advantage for Nio's electric vehicles.</p><p>Except for gasoline-electric hybrid models, other pure electric models cannot compete with Nio. This is a big benefit to Nio's car sales.</p><p>There are certain hidden concerns about security</p><p>At present, Nio still uses ternary batteries. Although ternary battery packs are well protected, there are still some dangers.</p><p>Moreover, in the battery swap mode, Nio does not know whether the replaced battery pack has any problems such as collisions during driving.</p><p>The earliest fire problem in Tesla was because a hard object on the ground touched the battery pack, causing a short circuit.</p><p>In addition, during the charging and discharging process, it is also the time when the battery pack is prone to thermal runaway.</p><p>All domestic electric vehicles have had problems.</p><p>Nio's second-generation battery swap station has 13 battery packs together. If one of these battery packs goes wrong, it can easily trigger a chain reaction. The energy of the battery pack is huge, and because the thermal decomposition and combustion of ternary materials can be self-sustaining and do not require external oxygen, once a fire breaks out, it will be very violent and difficult to put out the fire.</p><p>Therefore, the electric vehicle fire accidents we saw and the burned wreckage were very ugly. There's nothing left after it's burned.</p><p>The gas station is precisely a place where fireworks are strictly prohibited. If there is a problem with the battery in the electric vehicle or charging station, causing a gas station fire, the consequences will be devastating.</p><p>Therefore, this cooperation has certain potential safety hazards, and it is necessary to isolate and protect the second-generation batteries with sufficient safety.</p><p>Gas stations should also carry out risk protection for battery swap stations. It is necessary to ensure that in the extreme case of all 13 batteries burning and exploding, gas stations have enough space and protection to isolate battery swap stations.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.chinaventure.com.cn/news/78-20210419-361673.html\">Donews</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a3b92523152bd36c422721756606e549","relate_stocks":{"NIO":"蔚来"},"source_url":"https://www.chinaventure.com.cn/news/78-20210419-361673.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2128867739","content_text":"4月15日，造车新势力代表品牌蔚来汽车官方宣布，旗下第二代换电站在北京中石化朝英站正式落成。据介绍，这是蔚来汽车与中国石化合作建设的首座换电站。\n蔚来方面介绍，蔚来第二代换电站是全球首个量产实现车辆自动泊入的换电站，是由软件定义的端云结合的智能换电系统。第二代换电站全站共布置239个传感器、4大云端系统协同作业，全面深化视觉识别技术应用。\n蔚来第二代换电站采用视觉融合定位技术，运用领先的深度学习AI算法，结合轨迹规划控制算法，针对换电站坡道单独适配的电机扭矩控制技术，实现AVP自动泊车入站。蔚来车主可通过这座换电站实现AVP自动泊车入站、车内一键自助换电、自动调整车辆姿态等功能。\n该换电站采用SAP柔性换电平台，自动识别车型轴距后，调节车轮Y向定位V型槽位置，且兼容不同轴距车型换电。加解锁电平台结合VI技术精准定位，做到1秒视觉判断、10秒校正对准、20秒解锁，全自动控制快速完成电池解锁。\n据悉，蔚来第二代换电站电池仓内可容纳13块电池，单站日服务能力可达312次，并采用全仓恒温22度水冷系统，确保站内电池充电速度和安全不受气温影响。合理利用换电平台旁驻足底部空间，增加回收电池缓存仓，成倍缩短传送时间。\n长期以来，对于电动车的换电模式，各方争议都比较多。早期电动车普及阶段，有过换电后事故频频的情况。特斯拉也仅仅做了短期尝试，只有蔚来坚持做换电。\n如今，蔚来与中石化联手换电，它意欲何为呢?这种油电联手的模式意味着什么呢?\n电动车的里程焦虑\n里程焦虑问题，在电动车发展初期非常明显。尤其在温度较低的时候，电动车很容易突然没电。停在半路的电动车往往会成为街头一景。\n电动车的里程焦虑，一方面来自于电动车自身的续航能力。另外一方面来自于充电时间。电动车早期的续航往往是官方测试300公里，实际跑起来200多公里，天冷再打折扣，最后去趟郊区都提心吊胆，不用说跑长途了。\n后来随着电池技术、电机技术的进步，尤其是高能量电池的大量应用，现在电动车的续航普遍都很长了，500公里，600公里的已经很常见了。虽然电池的危险性有所妥协，但是续航已经不是太大问题。\n相比之下，快充问题进步没有那么大，并不是充电做不了那么快，而是要做超级快充对电力基础设施要求太高。\n特斯拉的超级快充要250KW，这种充电桩放到小区里面，安装几个，小区的容量就满了。难以普及。\n而且，即使叫超级快充，这个超级快相比加油速度也是龟速。相比慢充充一夜，快充30分钟，1个小时已经超级快了。\n但是，加油只要几分钟。到了长途旅行的时候，跑高速几百公里后，即使有超级快充站，没有其他车占用充电位置，也要等一个小时。\n这造成了电动车跑长途提心吊胆，规划不周，距离过远都要出麻烦。这种里程焦虑很难缓解，只有换电才可能和加油拼速度。\n也只有换电普及，才可能解决里程焦虑问题。\n蔚来的算盘\n特斯拉的成功，在于特斯拉是充电和车一起卖，解决了用户充电的问题。特斯拉本身的续航加上车位充电，是可以满足日常用车需求的。\n但是，真正到了长途，特斯拉还是有点问题。\n长途路上充电，首先你要在高速路上找到安装充电桩的地方，然后要配上电，还要沿着高速路慢慢布点，这个难度对于一家车企来说是很大的。\n但是，因为燃油车的需求，在高速路上一路都有加油站。加油站是每隔一段就有的。加油站为了车辆进出也有足够多的空间。\n蔚来通过合作用上中石化加油站的场地。这个算盘打的太精了。\n与充电站不同，蔚来的换电模式只要几分钟就可以换好电池，换好的电池可以慢慢充\n这样就没有排队充电的问题。\n电动车换电是一个危险性很高的工作，但是蔚来一开始就是换电设计，在二代换电站中又实现了自动换电，这样就不用安排很多技术人员。\n蔚来的二代换电站，相当于一个换电的自动售货机，只是利用中石化的场地。这个系统是品牌独有的。对蔚来的电动车构成非常大的竞争优势。\n除了油电混合车型，其他纯电车型无法与蔚来竞争。这对蔚来的汽车销售有很大好处。\n安全性存在一定隐忧\n目前，蔚来用的还是三元电池，三元电池包虽然做了很稳妥的保护，但是危险性还是有的。\n而且换电模式下，蔚来并不知道换下来的电池包，在行驶过程中有没有碰撞等问题。\n特斯拉最早出现起火问题，就是因为地面硬物触碰了电池包，造成短路。\n另外，在充放电过程中，也是电池包容易出现热失控的时候。\n这个国内的电动车都出过问题。\n蔚来的二代换电站是13个电池包在一起，这些电池包如果有一个出问题，很容易引发连锁反应。电池包的能量是巨大的，而且由于三元材料热分解燃烧可以自持，并不需要外界的氧气，一旦起火就会非常猛烈，难以救火。\n所以，我们看到的电动车起火事故，燃烧过后的残骸都非常难看。烧完了以后剩不下什么。\n而加油站，恰恰是一个严禁烟火的地方，如果电动车或者充电站里面的电池出问题，引发了加油站火灾，后果是毁灭性的。\n所以，这个合作存在一定的安全隐患，需要对二代换电的电池做足够安全的隔离和保护。\n加油站，也应该对换电站进行风险防护，要保障13块电池全部燃烧爆炸的极端情况下，加油站有足够多的空间和防护，隔离换电站。","news_type":1,"symbols_score_info":{"NIO":0.9,"SNP":0.9}},"isVote":1,"tweetType":1,"viewCount":1723,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":373130586,"gmtCreate":1618829283945,"gmtModify":1704715460663,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"6666","listText":"6666","text":"6666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/373130586","repostId":"1151263601","repostType":4,"repost":{"id":"1151263601","kind":"news","pubTimestamp":1618825416,"share":"https://ttm.financial/m/news/1151263601?lang=en_US&edition=fundamental","pubTime":"2021-04-19 17:43","market":"us","language":"zh","title":"Wall Street's loan-to-deposit ratios repeat the post-Lehman crisis period, what happens next","url":"https://stock-news.laohu8.com/highlight/detail?id=1151263601","media":"人民币交易与研究","summary":"美国各银行贷款明显萎缩，存款大幅增加。","content":"<p>Recently, the first-quarter financial reports released by American banks have shown a worrying sign, that is, the loans of American banks have shrunk significantly and the deposits have increased significantly. According to statistics, since the global financial crisis, bank loans have not grown, while total deposits have doubled.<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>In this regard, it was warned that whether the long-term weakness in bank lending after Lehman's bankruptcy will be repeated in the current post-virus cycle will be a key factor in determining long-term inflation and liquidity conditions. So far, the trajectory of bank lending has more similarities than differences with the post-Lehman crisis period.</p><p>JPMorgan Chase strategist Nick Panigirtzoglou recently elaborated on \"the challenges posed by weak bank lending\" in his latest \"Cash Flow and Liquidity\" report. He wrote, \"A common feature of this week's earnings reports of U.S. banks is weak loan growth. In fact, the weekly data released by the Federal Reserve in the first half of the year shows that the rate of lending by U.S. banks is still negative, which has been weak since last summer.\"</p><p>The first-quarter financial reports released by American banks last week showed a worrying sign, that is, the loans of American banks shrank significantly and the deposits increased significantly. JPMorgan Chase's latest earnings report showed that its total deposits rose 24% year-on-year in the first quarter and 6% from the fourth quarter of last year to $2.278 trillion, while the total loans issued by the bank were basically the same as the previous quarter. It was $1.011 trillion, down 4% from the same period last year.</p><p>In other words, for the first time in JPMorgan's history, deposits exceeded loans by 100%, and the loan-to-deposit ratio fell below 50% in a row in the third quarter after falling sharply after the pandemic in novel coronavirus pneumonia.</p><p><a href=\"https://laohu8.com/S/BAC\">Bank of America</a>An even more alarming divergence has emerged between total deposits and loans, with the bank's loans continuing to shrink at an alarming rate and now reaching $911 billion, below levels seen during the Great Financial Crisis, while deposits hit a record high of $1.88 trillion. In other words, Bank of America has had zero lending growth for 12 years!</p><p>Citibank and<a href=\"https://laohu8.com/S/WFC\">Wells Fargo</a>Not much better.</p><p>According to the financial reports of various banks, ZEROHEDGE, a financial blog, obtained the exploded diagram of the total loans and total deposits of the above four major banks:</p><p><img src=\"https://static.tigerbbs.com/063f2915452b694fb817f299dcf99225\" tg-width=\"1080\" tg-height=\"590\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/91eb994e5258aaee060b113a0f17a628\" tg-width=\"1080\" tg-height=\"592\" referrerpolicy=\"no-referrer\"></p><p>The results show that bank lending has not grown since the global financial crisis, while total deposits have doubled!</p><p>This ongoing weakness comes after the onset of the virus crisis, following a brief surge in bank lending in the second quarter of 2020, which is reminiscent of the trajectory of U.S. bank lending after the Lehman crisis, Panigirtzoglou writes. After the Lehman crisis broke out, driven by enterprises and consumers' use of bank credit lines, the lending speed of American banks soared briefly, but until mid-2011, the lending speed of American banks basically remained negative. Although it entered the positive territory after 2011, the lending speed of American banks has been far lower than the level before the Lehman crisis, which is an important feature of the theory of long-term stagnation.</p><p>While the future trajectory of bank lending is critical to determining long-term inflation and liquidity conditions, it remains to be seen whether the prolonged bank lending weakness after the Lehman crisis will repeat itself in the current post-virus cycle, JPMorgan admits.</p><p>The bank pointed out that the resurgence of the long-term weakness in bank lending in the post-Lehman era will cast doubt on the view that inflation will continue to rise in the next few years. It will also drag down future money supply and liquidity creation, i.e. a key driver of asset price increases is suppressed.</p><p>Looking ahead, the Fed will reduce its bond purchases in 2022 or at any time. That could lead to a further slowdown in money creation over the next few years unless bank lending improves, avoiding a prolonged post-Lehman weakness, according to JPMorgan.</p><p>Whether the prolonged weakness in bank lending following Lehman's failure will repeat itself in the current post-virus cycle will be a key factor in determining long-term inflation and liquidity conditions, JPMorgan warned. So far, the trajectory of bank lending has more similarities than differences with the post-Lehman crisis period.</p>","source":"lsy1574157197600","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>Wall Street's loan-to-deposit ratios repeat the post-Lehman crisis period, what happens next</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\">\nWall Street's loan-to-deposit ratios repeat the post-Lehman crisis period, what happens next\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">人民币交易与研究</strong><span class=\"h-time small\">2021-04-19 17:43</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Recently, the first-quarter financial reports released by American banks have shown a worrying sign, that is, the loans of American banks have shrunk significantly and the deposits have increased significantly. According to statistics, since the global financial crisis, bank loans have not grown, while total deposits have doubled.<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>In this regard, it was warned that whether the long-term weakness in bank lending after Lehman's bankruptcy will be repeated in the current post-virus cycle will be a key factor in determining long-term inflation and liquidity conditions. So far, the trajectory of bank lending has more similarities than differences with the post-Lehman crisis period.</p><p>JPMorgan Chase strategist Nick Panigirtzoglou recently elaborated on \"the challenges posed by weak bank lending\" in his latest \"Cash Flow and Liquidity\" report. He wrote, \"A common feature of this week's earnings reports of U.S. banks is weak loan growth. In fact, the weekly data released by the Federal Reserve in the first half of the year shows that the rate of lending by U.S. banks is still negative, which has been weak since last summer.\"</p><p>The first-quarter financial reports released by American banks last week showed a worrying sign, that is, the loans of American banks shrank significantly and the deposits increased significantly. JPMorgan Chase's latest earnings report showed that its total deposits rose 24% year-on-year in the first quarter and 6% from the fourth quarter of last year to $2.278 trillion, while the total loans issued by the bank were basically the same as the previous quarter. It was $1.011 trillion, down 4% from the same period last year.</p><p>In other words, for the first time in JPMorgan's history, deposits exceeded loans by 100%, and the loan-to-deposit ratio fell below 50% in a row in the third quarter after falling sharply after the pandemic in novel coronavirus pneumonia.</p><p><a href=\"https://laohu8.com/S/BAC\">Bank of America</a>An even more alarming divergence has emerged between total deposits and loans, with the bank's loans continuing to shrink at an alarming rate and now reaching $911 billion, below levels seen during the Great Financial Crisis, while deposits hit a record high of $1.88 trillion. In other words, Bank of America has had zero lending growth for 12 years!</p><p>Citibank and<a href=\"https://laohu8.com/S/WFC\">Wells Fargo</a>Not much better.</p><p>According to the financial reports of various banks, ZEROHEDGE, a financial blog, obtained the exploded diagram of the total loans and total deposits of the above four major banks:</p><p><img src=\"https://static.tigerbbs.com/063f2915452b694fb817f299dcf99225\" tg-width=\"1080\" tg-height=\"590\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/91eb994e5258aaee060b113a0f17a628\" tg-width=\"1080\" tg-height=\"592\" referrerpolicy=\"no-referrer\"></p><p>The results show that bank lending has not grown since the global financial crisis, while total deposits have doubled!</p><p>This ongoing weakness comes after the onset of the virus crisis, following a brief surge in bank lending in the second quarter of 2020, which is reminiscent of the trajectory of U.S. bank lending after the Lehman crisis, Panigirtzoglou writes. After the Lehman crisis broke out, driven by enterprises and consumers' use of bank credit lines, the lending speed of American banks soared briefly, but until mid-2011, the lending speed of American banks basically remained negative. Although it entered the positive territory after 2011, the lending speed of American banks has been far lower than the level before the Lehman crisis, which is an important feature of the theory of long-term stagnation.</p><p>While the future trajectory of bank lending is critical to determining long-term inflation and liquidity conditions, it remains to be seen whether the prolonged bank lending weakness after the Lehman crisis will repeat itself in the current post-virus cycle, JPMorgan admits.</p><p>The bank pointed out that the resurgence of the long-term weakness in bank lending in the post-Lehman era will cast doubt on the view that inflation will continue to rise in the next few years. It will also drag down future money supply and liquidity creation, i.e. a key driver of asset price increases is suppressed.</p><p>Looking ahead, the Fed will reduce its bond purchases in 2022 or at any time. That could lead to a further slowdown in money creation over the next few years unless bank lending improves, avoiding a prolonged post-Lehman weakness, according to JPMorgan.</p><p>Whether the prolonged weakness in bank lending following Lehman's failure will repeat itself in the current post-virus cycle will be a key factor in determining long-term inflation and liquidity conditions, JPMorgan warned. So far, the trajectory of bank lending has more similarities than differences with the post-Lehman crisis period.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.sina.com.cn/stock/usstock/c/2021-04-19/doc-ikmyaawc0577288.shtml\">人民币交易与研究</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/cb5398fed733ffbbc94ab1b9a49946a8","relate_stocks":{"C":"花旗","JPM":"摩根大通","BAC":"美国银行","WFC":"富国银行"},"source_url":"https://finance.sina.com.cn/stock/usstock/c/2021-04-19/doc-ikmyaawc0577288.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151263601","content_text":"近日，美国各银行陆续公布的一季度财报显示出一大令人担忧的迹象，即美国各银行贷款明显萎缩，存款大幅增加。据统计，自全球金融危机以来，银行贷款没有增长，而存款总额却翻了一番。摩根大通对此警告称，雷曼破产后银行放贷的长期疲弱状况是否会在当前病毒爆发后的周期中重演，将是决定长期通胀和流动性状况的关键因素。到目前为止，银行放贷的轨迹与后雷曼危机时期的相似之处多于差异。摩根大通策略师尼克·潘尼吉尔佐格罗（Nick Panigirtzoglou）近日在其最新的“现金流和流动性”报告中阐述了“银行贷款疲软带来的挑战”。他写道，“本周美国各银行收益报告的一个共同特征是贷款增长疲软。实际上，美联储上半年发布的每周数据就显示，美国各银行放贷的速度仍处于负数，自去年夏天以来一直持续疲软。”美国各银行上周陆续公布的一季度财报显示出一大令人担忧的迹象，即美国各银行贷款明显萎缩，存款大幅增加。摩根大通最新盈利报告显示，第一季度其存款总额同比上升了24%，较去年第四季度增长了6%，至2.278万亿美元， 而该银行发放的贷款总额与上一季度基本持平，为1.011万亿美元，比去年同期下降了4%。换句话说，在摩根大通历史上，存款首次超过贷款100%，贷存比在新冠肺炎疫情后大幅下降后，第三季度连续下降到50%以下。美国银行的总存款和贷款之间出现了更加惊人的分歧，该银行的贷款继续以惊人的速度萎缩，目前已达到9110亿美元，低于大金融危机期间的水平，而存款创下了历史新高，达到1.88万亿美元。换句话说，美国银行已经12年贷款零增长了！花旗银行和富国银行也好不到哪里去。金融博客ZEROHEDGE根据各银行财报，得到以上四大银行贷款总额和和总存款的分解图：结果显示，自全球金融危机以来，银行贷款没有增长，而存款总额却翻了一番！Panigirtzoglou写道，这种持续的疲软是在病毒危机爆发后，即2020年第二季度银行放贷短暂飙升之后出现的，这让人想起了雷曼危机后美国银行放贷的轨迹。雷曼危机爆发后，在企业和消费者利用银行信贷额度的推动下，美国各银行放贷速度一度短暂飙升，但直到2011年年中，美国各银行放贷速度基本保持在负增长。尽管在2011年之后进入了正区间，但美国各银行放贷速度一直远低于雷曼危机前的水平，这是长期停滞论的一个重要特征。摩根大通坦言，尽管银行贷款的未来轨迹对于决定长期通胀和流动性状况至关重要，雷曼危机后长期的银行贷款疲软是否会在当前的后病毒周期中重演还有待观察。该行指出，后雷曼时期银行放贷的长期疲软重现，将使人们对未来几年通胀持续上涨的观点产生怀疑。这还将拖累未来的货币供应和流动性创造，即资产价格上涨的一个关键驱动因素被压制。展望未来，美联储将在2022年或任何时候缩减购债规模。摩根大通表示，这可能会导致未来几年货币创造进一步放缓，除非银行放贷有所改善，避免出现后雷曼时期的长期疲软。摩根大通警告称，雷曼破产后银行放贷的长期疲弱状况是否会在当前病毒爆发后的周期中重演，将是决定长期通胀和流动性状况的关键因素。到目前为止，银行放贷的轨迹与后雷曼危机时期的相似之处多于差异。","news_type":1,"symbols_score_info":{"BAC":0.9,"C":0.9,"JPM":0.9,"WFC":0.9}},"isVote":1,"tweetType":1,"viewCount":882,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":373130978,"gmtCreate":1618829256794,"gmtModify":1704715460017,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"66666666","listText":"66666666","text":"66666666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/373130978","repostId":"2128600328","repostType":4,"repost":{"id":"2128600328","kind":"news","pubTimestamp":1618825861,"share":"https://ttm.financial/m/news/2128600328?lang=en_US&edition=fundamental","pubTime":"2021-04-19 17:51","market":"sh","language":"zh","title":"Car companies talk about chip shortages: It seems that the \"firefighting team\" frequently changes suppliers","url":"https://stock-news.laohu8.com/highlight/detail?id=2128600328","media":"第一财经","summary":"芯片短缺的问题令全球汽车行业的高管感到不安，一些汽车制造商不得不调整装配线，同时芯片供应链的中断也打击了中国汽车企业的生产。在上海车展期间，汽车企业领导者再次将努力解决半导体供应链的问题提上议程。\n德","content":"<p><div>The chip shortage has rattled executives in the global auto industry, with some automakers having to adjust assembly lines, while chip supply chain disruptions have also hit production by Chinese automakers. During the Shanghai Auto Show, automotive leaders once again put efforts to solve the problems of the semiconductor supply chain on the agenda. Dr. Stephan Woellenstein, CEO of Volkswagen China, told reporters on Sunday that the weekly or even monthly losses caused by the chip shortage have been incalculable to the company. \"We are like a fire brigade, and in some cases we have switched to another...</p><p><a href=\"https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/jjxw/2021-04-19/doc-ikmxzfmk7728884.shtml\">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>Car companies talk about chip shortages: It seems that the \"firefighting team\" frequently changes suppliers</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\">\nCar companies talk about chip shortages: It seems that the \"firefighting team\" frequently changes suppliers\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\">2021-04-19 17:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div>The chip shortage has rattled executives in the global auto industry, with some automakers having to adjust assembly lines, while chip supply chain disruptions have also hit production by Chinese automakers. During the Shanghai Auto Show, automotive leaders once again put efforts to solve the problems of the semiconductor supply chain on the agenda. Dr. Stephan Woellenstein, CEO of Volkswagen China, told reporters on Sunday that the weekly or even monthly losses caused by the chip shortage have been incalculable to the company. \"We are like a fire brigade, and in some cases we have switched to another...</p><p><a href=\"https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/jjxw/2021-04-19/doc-ikmxzfmk7728884.shtml\">Web link</a></div></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/jjxw/2021-04-19/doc-ikmxzfmk7728884.shtml\">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/f5e8aba7de194dc92d26747c1cfec057","relate_stocks":{"GM":"通用汽车","TSM":"台积电"},"source_url":"https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/jjxw/2021-04-19/doc-ikmxzfmk7728884.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2128600328","content_text":"芯片短缺的问题令全球汽车行业的高管感到不安，一些汽车制造商不得不调整装配线，同时芯片供应链的中断也打击了中国汽车企业的生产。在上海车展期间，汽车企业领导者再次将努力解决半导体供应链的问题提上议程。\n德国大众汽车中国区CEO冯思瀚（Stephan Woellenstein）博士周日对记者表示，因为芯片短缺给该公司造成每周甚至每月的损失已经难以估量。“我们就好像是救火队，在某些情况下，我们已改用另一种芯片，也就是说改变了供应商。”冯思瀚表示。\n\n中国汽车库存将持续下降\n大众汽车是中国最大的外国汽车制造商，该公司希望在中国的汽车年销售量达400万辆。去年，中国市场的汽车年销量超过2500万辆。中国对于包括大众汽车和通用汽车在内的汽车制造商来说是最重要的市场之一。\n大众汽车全球CEO赫伯特·迪斯（Herbert Diess）上周在汉诺威工业博览会上表示，关键半导体零部件的持续短缺是影响全球汽车行业从新冠危机中复苏的“唯一”因素。\n“美国，巴西和中国的需求正在回升，我们也在努力通过欧洲订单量的增涨来实现复苏目标。”迪斯表示，“目前唯一限制和减缓这种复苏的因素是全球各种半导体的供应情况。”此前，大众汽车已经表示，将直接与芯片厂商锁定芯片供应合同。\n中国汽车经销商协会表示，由于芯片短缺打击了整个汽车生产，预计中国的汽车库存将继续下降。该协会还表示，某些车型的供应可能无法满足需求。 中国汽车工业协会也表示，芯片供应短缺造成今年前两个月中国汽车产量减少了5％至8％，该协会预计从今年第三季度开始，芯片短缺的影响有望缓解。\n此前，包括日产汽车、福特汽车和中国的蔚来汽车等汽车制造商都公开表示，由于芯片供应短缺，他们削减了产量。麦肯锡的数据显示，2019年汽车行业约占全球4290亿美元规模半导体市场的十分之一，恩智浦半导体（NXP）、德国英飞凌和瑞萨电子是该行业的主要供应商。\n今年3月，瑞萨电子在日本的芯片工厂发生大火，这使得半导体的短缺状况进一步恶化。瑞萨电子周一表示，周六工厂已经重启生产，预计将于5月底前恢复受损工厂失去的产能。\n瑞萨电子在车用微控制器芯片方面占据了全球市场近三分之一的份额。瑞萨电子CEO柴田英利（Hidetoshi Shibata）在新闻发布会上称，计划4月底前恢复工厂一半的产能，产能全面恢复预计需要70天左右的时间。\n“日本火灾，美国得克萨斯的极寒气候等因素造成了芯片的短缺问题严重，我们每天都在面临为客户提供足够芯片的挑战。”自动驾驶供应商安波福亚太区总裁杨晓明在上海车展召开前对第一财经记者表示，“芯片给行业带来的已经不是短期的影响了，寻求长期应对的方法是肯定的。”\n杨晓明表示，目前需要对整个行业的商业模式进行重新思考。“我们也在思考如何应对突发事件对全球供应链的冲击，如何在发挥平台化优势的同时，还要考虑如何把目前单一的供应链的模式变得更加柔性。”杨晓明说道，“这并不是说一家供应商不行再换另外一家，而是要找到一种可持续的方案，但这仍然需要时间。”\n杨晓明对记者表示，安波福与合作伙伴每天都在研究芯片的紧张程度。“过去我们跟主要的芯片合作厂商的关系相对简单，但是现在我们开始研究供应链的本质，不单单是芯片设计厂商的瓶颈，也包括分包和晶圆厂的瓶颈。”他说道，“现在我们已经看到，供给汽车使用的晶圆是有瓶颈的，尤其是在需求急剧增加的情况下，晶圆厂的供应挑战很大。至于什么时候能够结束，现在还很难预测。”\n行业重审供应链本质\n芯片的制造从平板大小的硅片开始，电路被蚀刻到硅片中，通过一系列复杂的化学过程在硅片表面上堆积。每个晶圆上都有数百甚至数千个指甲大小的芯片，必须将它们切成单个芯片，然后放入包装中。\n芯片制造过程复杂，供应链尤其长，而且非常耗费人力。生产单个计算机芯片大约需要1000个步骤，经历70次边境的跨越，并且需要大量专业企业的合作，目前这些公司大多数都在亚洲，并且很多企业都是公众未知的。\n以包装步骤为例，一家韩国的生产汽车芯片包装组件公司需要将其产品出口到马来西亚或泰国，以供英飞凌或者NXP等客户使用。英飞凌和NXP等公司负责为德国的博世和大陆集团等汽车供应商提供组装和包装芯片，而博世和大陆集团再向汽车制造商提供最终产品。\n美国总统拜登上周召集半导体行业高管讨论芯片危机的解决方案。拜登政府提议投入500亿美元支持芯片制造和研究，作为2万亿美元基础设施提案的一部分。这些资金大部分将用于英特尔、三星和台积电等晶圆厂，用于建设数十亿美元的先进芯片制造工厂。\n根据行业数据，目前全球80％以上的芯片生产都在亚洲，美国仅占全球半导体产能的12％，低于90年代的37％。\n但行业高管表示，要完全重建芯片整个产业链代价高昂，因此解决更广泛的供应链至关重要。安森美半导体（On Semiconductor）高级副总裁戴维·索莫（David Somo）表示：“要在某个特定的地方从上游到下游重建整个供应链几乎是不可能的，这代价太高了。”\n过去长期以来，美国大量的资金都流向了先进以及高利润率的芯片设计领域，将芯片的包装和生产外包给亚洲企业。在芯片短缺问题日益突出的背景下，一些人士认为，美国不仅需要支持新的尖端晶圆厂，而且还需要支持较旧的技术。\n美国芯片包装公司Promex公司CEO迪克·奥特（Dick Otte）表示：“重建美国的汽车芯片包装业非常重要，如果能做到这一点美国芯片产业链重建才有未来，否则只是浪费时间。”\n去年10月，位于美国明尼苏达州的芯片铸造厂SkyWater Technology接管了佛罗里达州的一家工厂，计划建造先进的包装生产线。\n密歇根大学电气与计算机工程学教授托尼·列维（Tony Levi）表示，重建美国包装业不仅可以使芯片公司及其客户免受地缘因素的影响，还可以帮助他们缩短制造新的芯片所涉及的漫长周期。“美国芯片公司可以更频繁地创建较小规模的芯片制造流程，从而加快创新速度，并有可能创造出更大的生产能力。”列维教授表示。","news_type":1,"symbols_score_info":{"TSM":0.9,"GM":0.9}},"isVote":1,"tweetType":1,"viewCount":740,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":347136790,"gmtCreate":1618473844910,"gmtModify":1704711371003,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"66666","listText":"66666","text":"66666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/347136790","repostId":"2127003228","repostType":4,"repost":{"id":"2127003228","kind":"highlight","pubTimestamp":1618472046,"share":"https://ttm.financial/m/news/2127003228?lang=en_US&edition=fundamental","pubTime":"2021-04-15 15:34","market":"us","language":"zh","title":"TSMC's Q1 revenue and profit exceeded expectations, and gross profit margin approached the expected upper limit","url":"https://stock-news.laohu8.com/highlight/detail?id=2127003228","media":"华尔街见闻","summary":"4月15日，为苹果、AMD等众多厂商代工芯片的全球第一大的芯片代工商台积电发布了一季度的财报，营收达到了预期并创下新高，净利润接近50亿美元，同比增长明显。\n财报数据显示：\n\n 主营业务收入方面，台积","content":"<p>April 15, for<a href=\"https://laohu8.com/S/AAPL\">Apple</a>、<a href=\"https://laohu8.com/S/AMD\">AMD</a>The world's largest chip foundry that manufactures chips from many manufacturers<a href=\"https://laohu8.com/S/TSM\">TSMC</a>The financial report for the first quarter was released, and the revenue reached expectations and hit a new high. The net profit was close to US $5 billion, a significant year-on-year increase.</p><p>Financial report data shows:</p><p>In terms of main business income, TSMC's revenue in the first quarter was US $12.919 billion, a year-on-year increase of 16.7% and a quarter-on-quarter increase of 0.2%. In terms of gross profit, TSMC's gross profit in the first quarter was US $6.767 billion, a year-on-year increase of 18.1%, but a month-on-month decrease of 2.8%. The gross profit margin was 52.4%, a year-on-year increase of 1.4%, and a month-on-month decrease of 1.6%. In terms of net profit, TSMC's net profit in the first quarter was US $4.981 billion, a year-on-year increase of 19.4%, but like gross profit, it was not as good as the previous quarter, falling 2.2% month-on-month.<img src=\"https://static.tigerbbs.com/7780f6783d94f7846de41ff8f99a4b3f\" tg-width=\"640\" tg-height=\"423\" referrerpolicy=\"no-referrer\"></p><p>Although TSMC's gross profit and net profit in the first quarter were lower than those in the previous quarter, they still met market expectations.</p><p>And,<b>TSMC's first-quarter revenue and net income also beat analyst estimates</b>。 Analysts on average expect TSMC's first-quarter revenue to be NT $360.5 billion and net profit to be NT $136.2 billion.</p><p>In the financial report for the fourth quarter of last year released on January 15, TSMC expected the gross profit margin in the first quarter to be 50.5%-52.5%, while<b>The final gross profit margin of 52.4% is close to the expected upper limit</b>。 In its financial report for the fourth quarter of last year, TSMC expected revenue in the first quarter to be between US $12.7 billion and US $13 billion, while<b>The final $12.919 billion is also close to the upper limit of expectations</b>。</p><p><h2>Production capacity is in short supply</h2>In the first quarter, TSMC's 5nm shipments accounted for 14% of total wafer revenue, and 7nm accounted for 35%. Overall, advanced technologies (7nm and more advanced technologies) account for 49% of total wafer revenue.</p><p>Apple's iPhone,<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>A surge in demand for chips used in TVs and connected cars has pushed TSMC at the heart of a tight global supply chain. Although Taiwan's largest chipmaker keeps its fabs utilized at over 100%, the company's production capacity is insufficient to meet the needs of all its customers.</p><p>It is worth noting that there was a sudden power outage at TSMC Nanke Fab14 P7 factory yesterday morning. The industry estimates that 30,000 wafers will be affected, and the loss amount will be less than NT $1 billion (approximately RMB 230 million).</p><p>At present, the world's advanced process chips are in short supply, and TSMC's first-quarter revenue also exceeded analysts' expectations, setting a record for three consecutive quarters.</p><p><h2>Increase capital expenditure</h2>It is worth mentioning that under the background of the shortage of semiconductor chip production capacity, TSMC, as the global foundry leader, continues to increase capital expenditures. Because the pressure of production capacity exceeding demand has risen sharply, TSMC held a legal conference today. It is expected that production capacity will remain tight throughout this year, and said that the capital expenditure for this year will be US $30 billion.</p><p>At the beginning of this year, TSMC expected capital expenditures of 25 billion to 28 billion US dollars in 2021. This increase is 10-20%. Just at the beginning of this month, TSMC announced that it would invest US $100 billion in the next three years to aggressively expand production.</p><p>Cathay Futures analyst Felix Hsu said in a note released on April 7 that due to better-than-expected semiconductor demand over the long term,<b>TSMC is likely to achieve a compound annual growth rate (CAGR) of 15% with US $100 billion in capital expenditures over the next three years</b>。 He expects TSMC's second-quarter guidance to be higher than the consensus estimate.</p><p>As major U.S. automakers and other device suppliers face chronic chip shortages, U.S. Biden proposed to spend $50 billion to support U.S. semiconductor research and manufacturing. The initiative could help TSMC's plans to build a high-end wafer fab in Arizona this year, which could cost $12 billion.</p><p>Shares of TSMC have more than doubled in the past year. The stock rose 1.1% on Thursday ahead of the company's earnings report.</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>TSMC's Q1 revenue and profit exceeded expectations, and gross profit margin approached the expected upper limit</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\">\nTSMC's Q1 revenue and profit exceeded expectations, and gross profit margin approached the expected upper limit\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\">2021-04-15 15:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p>April 15, for<a href=\"https://laohu8.com/S/AAPL\">Apple</a>、<a href=\"https://laohu8.com/S/AMD\">AMD</a>The world's largest chip foundry that manufactures chips from many manufacturers<a href=\"https://laohu8.com/S/TSM\">TSMC</a>The financial report for the first quarter was released, and the revenue reached expectations and hit a new high. The net profit was close to US $5 billion, a significant year-on-year increase.</p><p>Financial report data shows:</p><p>In terms of main business income, TSMC's revenue in the first quarter was US $12.919 billion, a year-on-year increase of 16.7% and a quarter-on-quarter increase of 0.2%. In terms of gross profit, TSMC's gross profit in the first quarter was US $6.767 billion, a year-on-year increase of 18.1%, but a month-on-month decrease of 2.8%. The gross profit margin was 52.4%, a year-on-year increase of 1.4%, and a month-on-month decrease of 1.6%. In terms of net profit, TSMC's net profit in the first quarter was US $4.981 billion, a year-on-year increase of 19.4%, but like gross profit, it was not as good as the previous quarter, falling 2.2% month-on-month.<img src=\"https://static.tigerbbs.com/7780f6783d94f7846de41ff8f99a4b3f\" tg-width=\"640\" tg-height=\"423\" referrerpolicy=\"no-referrer\"></p><p>Although TSMC's gross profit and net profit in the first quarter were lower than those in the previous quarter, they still met market expectations.</p><p>And,<b>TSMC's first-quarter revenue and net income also beat analyst estimates</b>。 Analysts on average expect TSMC's first-quarter revenue to be NT $360.5 billion and net profit to be NT $136.2 billion.</p><p>In the financial report for the fourth quarter of last year released on January 15, TSMC expected the gross profit margin in the first quarter to be 50.5%-52.5%, while<b>The final gross profit margin of 52.4% is close to the expected upper limit</b>。 In its financial report for the fourth quarter of last year, TSMC expected revenue in the first quarter to be between US $12.7 billion and US $13 billion, while<b>The final $12.919 billion is also close to the upper limit of expectations</b>。</p><p><h2>Production capacity is in short supply</h2>In the first quarter, TSMC's 5nm shipments accounted for 14% of total wafer revenue, and 7nm accounted for 35%. Overall, advanced technologies (7nm and more advanced technologies) account for 49% of total wafer revenue.</p><p>Apple's iPhone,<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>A surge in demand for chips used in TVs and connected cars has pushed TSMC at the heart of a tight global supply chain. Although Taiwan's largest chipmaker keeps its fabs utilized at over 100%, the company's production capacity is insufficient to meet the needs of all its customers.</p><p>It is worth noting that there was a sudden power outage at TSMC Nanke Fab14 P7 factory yesterday morning. The industry estimates that 30,000 wafers will be affected, and the loss amount will be less than NT $1 billion (approximately RMB 230 million).</p><p>At present, the world's advanced process chips are in short supply, and TSMC's first-quarter revenue also exceeded analysts' expectations, setting a record for three consecutive quarters.</p><p><h2>Increase capital expenditure</h2>It is worth mentioning that under the background of the shortage of semiconductor chip production capacity, TSMC, as the global foundry leader, continues to increase capital expenditures. Because the pressure of production capacity exceeding demand has risen sharply, TSMC held a legal conference today. It is expected that production capacity will remain tight throughout this year, and said that the capital expenditure for this year will be US $30 billion.</p><p>At the beginning of this year, TSMC expected capital expenditures of 25 billion to 28 billion US dollars in 2021. This increase is 10-20%. Just at the beginning of this month, TSMC announced that it would invest US $100 billion in the next three years to aggressively expand production.</p><p>Cathay Futures analyst Felix Hsu said in a note released on April 7 that due to better-than-expected semiconductor demand over the long term,<b>TSMC is likely to achieve a compound annual growth rate (CAGR) of 15% with US $100 billion in capital expenditures over the next three years</b>。 He expects TSMC's second-quarter guidance to be higher than the consensus estimate.</p><p>As major U.S. automakers and other device suppliers face chronic chip shortages, U.S. Biden proposed to spend $50 billion to support U.S. semiconductor research and manufacturing. The initiative could help TSMC's plans to build a high-end wafer fab in Arizona this year, which could cost $12 billion.</p><p>Shares of TSMC have more than doubled in the past year. The stock rose 1.1% on Thursday ahead of the company's earnings report.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3627892\">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/975836d8c6eb511241583dccb0d387f2","relate_stocks":{"TSM":"台积电"},"source_url":"https://wallstreetcn.com/articles/3627892","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2127003228","content_text":"4月15日，为苹果、AMD等众多厂商代工芯片的全球第一大的芯片代工商台积电发布了一季度的财报，营收达到了预期并创下新高，净利润接近50亿美元，同比增长明显。\n财报数据显示：\n\n 主营业务收入方面，台积电一季度营收129.19亿美元，同比增长16.7%，环比增长0.2%。毛利润方面，台积电一季度毛利67.67亿美元，同比增长18.1%，但环比下滑了2.8%，毛利润率为52.4%，同比提升1.4%，环比下滑1.6%。净利润方面，台积电一季度净利润49.81亿美元，同比增长19.4%，但同毛利润一样，也不及上一季度，环比下滑2.2%。\n\n\n虽然台积电一季度的毛利润和净利润不及上一季度，但依旧达市场预期。\n并且，台积电第一季度营收和净利润也超出了分析师预期。分析师平均预计，台积电第一季度营收为新台币3605亿新台币，净利为1362亿新台币。\n在1月15日发布的去年四季度财报中，台积电预计一季度的毛利率在50.5%-52.5%，而最终的52.4%的毛利率，接近预期上限。而在去年四季度的财报中，台积电预计一季度的营收在127亿美元-130亿美元，而最终的129.19亿美元，也接近预期上限。\n产能供不应求\n一季度，台积电5nm出货量占晶圆总营收的14%，7nm占35%。整体而言，先进技术（7nm和更先进技术）占晶圆总营收的49%。\n苹果公司的iPhone、智能电视和联网汽车中使用的芯片需求激增，促使台积电成为了全球供应链紧俏的核心。尽管台湾这家最大芯片制造商将其晶圆厂的利用率保持在超过100％，但该公司产能不足以满足其所有客户的需求。\n值得注意的是，昨日台积电南科Fab14 P7厂区上午突然停电，业界预估有3万片晶圆受影响，损失金额在10亿新台币（约合2.3亿人民币）以内。\n目前，全球先进制程芯片正处于供不应求的局面，台积电第一季度营收也超出了分析师预期，连续三季度创下纪录。\n上调资本开支\n值得一提的是，半导体芯片产能紧缺背景下，作为全球代工龙头的台积电不断上调资本开支。因为产能供不应求压力陡升，台积电在今日召开法说会，预计今年全年产能仍将紧张，并表示今年全年资本支出为300亿美元。\n今年年初，台积电预计2021年资本支出250亿-280亿美元。本次上调幅度达10-20%。而就在本月初，台积电宣布将在未来3年投入1000亿美元大举扩产。\nCathay Futures分析师Felix Hsu在4月7日发布的一份报告中表示，由于半导体需求长期好于预期，台积电在未来三年1000亿美元资本支出下，很可能实现15％的复合年增长率（CAGR）。他预计台积电第二季度指引将高于共识预测。\n由于美国主要的汽车制造商和其他装置供应商面临着芯片长期短缺的问题，美国拜登提议将以500亿美元用于支持美国的半导体研究和制造。该倡议可能有助于台积电今年在亚利桑那州建设高端晶圆厂的计划，该工厂可能耗资120亿美元。\n台积电的股价在过去一年中增长了一倍以上。在该公司发布财报之前，该股周四上涨了1.1％。","news_type":1,"symbols_score_info":{"TSM":0.9}},"isVote":1,"tweetType":1,"viewCount":713,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":347136433,"gmtCreate":1618473827822,"gmtModify":1704711370197,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"666666","listText":"666666","text":"666666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/347136433","repostId":"1111977847","repostType":4,"repost":{"id":"1111977847","kind":"news","pubTimestamp":1618472047,"share":"https://ttm.financial/m/news/1111977847?lang=en_US&edition=fundamental","pubTime":"2021-04-15 15:34","market":"us","language":"zh","title":"Dismantling TuSimple: 6 questions to understand the world's first autonomous driving stock","url":"https://stock-news.laohu8.com/highlight/detail?id=1111977847","media":"甲子光年","summary":"文/高雅\n就在今天晚上，“全球自动驾驶第一股”要来了。如果不出意外，美东时间4月15日，图森未来（以下简称“图森”）将在纳斯达克上市，股票代码TSP。\n与此前看客们的期待不同，“全球自动驾驶第一股”率","content":"<p>Text/Elegant</p><p>Just tonight, \"the world's first autonomous driving stock\" is coming. If nothing else happens, TuSimple (hereinafter referred to as \"TuSimple\") will be listed on Nasdaq on April 15, Eastern Time, under the stock code TSP.</p><p>Different from the previous expectations of spectators, the \"world's first autonomous driving stock\" was the first to liberate the hands of truck drivers. On March 23 this year, Tucson, a self-driving truck company, submitted an IPO application; On the 7th of this month, it further determined the price range and quantity of stock issuance.</p><p>In this listing, Tucson is preparing to issue 33.78 million ADSs, including 27.02 million shares issued by the company and existing shareholders<a href=\"https://laohu8.com/S/SINA\">SINA</a>6.75 million shares sold. Tucson has established an issue price range of $35 to $39. According to previous disclosures, Tucson hopes to raise 800-1 billion US dollars. If it goes public smoothly, Tucson's overall valuation will be about $5 billion to $7 billion.</p><p>Some analysts believe that Tucson is likely to be able to sell an additional $1 billion in shares \"because investors have an appetite\". The autonomous driving track is currently booming financing. According to the previous exclusive news of \"Jiazi Lightnian\", the autonomous driving company Xidi Zhijia completed two financings within three months, and the latest round of financing far exceeded plan. Xidi Smart Driving is just a microcosm of the entire track. In the first two months of 2021 alone, there have been 24 investment and financing events in the autonomous driving industry, and the total amount of investment and financing disclosed is 17.64 billion yuan.</p><p>With the listing of Tucson, Nasdaq will also welcome the world's first listed autonomous driving company. The close contact between autonomous driving and the stock market kicked off. In the listing competition, Tucson successfully took the lead.</p><p>\"Jiazi Guangnian\" dismantled Tucson's prospectus to see what kind of company it is:</p><p>The driverless track is hot, and this is a good time to land in the secondary market. Tucson successfully took the lead;</p><p>To seize the world's first autonomous driving stock, Tucson wants to prepare food and grass for subsequent business development. According to its plan, Tucson will expand its autonomous freight network (AFN) throughout the continental United States by 2024;</p><p>For the purpose of the funds raised from the listing, Tucson has no R&D and product investment in its current plan;</p><p>Compared with the passenger track, the driverless truck market seems to be a blue ocean. However, the technology landing and commercialization only started, and the marathon only started;</p><p>Tucson is still losing money and has no current profit plans;</p><p>Tucson's largest outside shareholder is Sun Dream Inc., an affiliate of Sina. How did this established Internet company invest in an autonomous driving company? Intriguing.</p><p><b>1. Who is Tucson?</b></p><p>Tucson is a driverless truck brand. Founded in September 2015, it wants to empower the global logistics and transportation industry through artificial intelligence.</p><p>This company claims that its vision is to revolutionize the global trucking market of about $4 trillion. According to the report of consulting firm Armstrong & Associates, the total U.S. freight market has annual revenue of $100 million, and truck freight accounts for 80%. The United States is Tucson's main market right now.</p><p>To achieve this goal, Tucson has developed technologies for semi-trucks, namely commercially available L4 autonomous driving solutions based on computer vision, unmanned transportation solutions for high-speed scenarios and container trucks in ports, plus autonomous freight networks (AFN), Tucson believes will make long-distance trucking safer, more reliable, more efficient and more environmentally friendly.</p><p>The so-called L4 level unmanned driving (High Automation) means that the vehicle can automatically plan the driving route, avoid traffic congestion, etc. under the control of the driving computer, and the owner can operate without intervening.</p><p>In 2020, Tucson earned $1.84 million; That figure was $9,000 in 2018. In fact, similar companies in autonomous driving have ushered in good days recently. In addition to the gradual maturity of technology and the general increase in acceptance, the epidemic has reduced contact between people.</p><p>The current \"TuSimple Future Co., Ltd.\", formerly known as \"Beijing TuSimple Internet Technology Co., Ltd.\" In 2017, the company changed its name to \"TuSimple\", and its business also shifted from providing technical services to autonomous driving. At that time, founder Chen Mo took a fancy to the hot autonomous driving. Chen Mo advertises himself as \"a pragmatist\" and will choose the road closest to money.</p><p>This is also Chen Mo's fifth venture. Before founding Tucson, Chen Mo participated in the operation of three companies successively, namely Sky Advertising (a building advertising platform), Deep Blue Brothers (page game chess platform) and Cheguo.com (automobile O2O trading platform). However, in addition to taking the lead, starting a business also requires a little luck. The first three ventures collapsed in the middle of the road until Tucson came into existence.</p><p>Tucson's technical background comes from another founding member, CTO Hou Xiaodi, who is a Ph.D. in computing and nervous system at Caltech. He founded the theory of visual attention mechanism based on the frequency domain, and was called the prototype of \"campus hacker\" by the media.</p><p><b>2. Why did you choose a truck?</b></p><p>Autonomous driving can be divided into passenger field and commercial field. The semi-truck selected by Tucson belongs to the commercial field of unmanned driving. Domestic analysts often regard Tucson, Zhijia, and Pony.ai as the \"three treasures of new forces\" in the unmanned freight market.</p><p>The market space of passenger cars is far larger than that of commercial vehicles. Chen Mo once told the media that their (passenger car) market is nearly 10 times that of ours. This makes the track in the passenger field more crowded. An entrepreneur in the autonomous driving industry told \"Jiazi Lightnian\" that from<a href=\"https://laohu8.com/S/GOOG\">Google</a>、<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Entrepreneurs coming out of the direction of autonomous driving will give priority to passenger car projects. For example, Wang Jin, founder of WeRide (formerly Jingchi Technology), and Lou Tiancheng, founder of Pony.ai, both chose the passenger field.</p><p>However, because passenger cars are directly related to people, safety issues have become a higher threshold, making it more difficult to implement and commercialize. In 2018, he developed autonomous driving in the field of passenger cars<a href=\"https://laohu8.com/S/V03.SI\">Startups</a>Many of them didn't make it to this day.</p><p>Relatively speaking, the commercial field is actually easier to land. Chris Urmson, the pioneer of Google's autonomous vehicle and the founder of Aurora, once explained this: If you have a person in the back seat of your autonomous driving vehicle, there will be many concerns. If there is a roll of toilet paper behind it, it will be much less difficult to implement.</p><p>At the same time, as far as the driverless truck market is concerned, the market space is actually not small. McKinsey's data gives evidence: by using driverless truck systems, the overall operating costs of the U.S. trucking industry will drop by about 45%, saving about 85 billion to 125 billion dollars. In China, the situation is exactly the same. Tucson described his career as \"an industry worth $800 billion\" in his recruitment column in official website.</p><p>There are relatively few competitors in the unmanned truck freight market. Sam Abuelsamid, principal research analyst at Guidehouse Insights and senior contributor to Forbes, once said when evaluating Tucson: In the AV (autonomous) truck industry, they must be one of the leaders, if not the leaders.</p><p>It's a fairly small group. In order to avoid fierce competition from passenger cars, some self-driving companies have turned to truck freight. Since April 2019, Pony.ai has also begun to focus on the truck freight market. Previously, it focused on the passenger car market.</p><p><b>3. What to use to attract investors?</b></p><p>In the process of capital markets, Tucson took the lead. Zhijia Technology is Tucson's direct competitor. Bloomberg previously reported that Zhijia wants to go public as a SPAC in early 2021, but there has been no new progress so far.</p><p>\"Taking the lead\" is also very Chen Mo's style. Previously, when he talked on the phone with Yuan Hongming, chairman of Shaanxi Automobile, he said: If others do it first, if you slow down, wouldn't the market be occupied?</p><p>What does Tucson rely on to attract investors in the secondary market after successfully taking the lead? Transforming the truck market isn't that sexy, and driverless is not a familiar thing.</p><p>One of the cards Tucson has played is high growth. In 2020, it received more than 5,700 intentional pre-orders, and its financial revenue increased by 160% year-on-year. However, this is because the base is relatively small. Even for the whole year of 2020, Tucson's total revenue is only $1.843 million.</p><p>Possible growth in the future is the bigger temptation Tucson gives. In 2020, Tucson launched the world's first driverless freight network (AFN), which is the basis for its commercialization. It says this in the prospectus: It is expected that by 2024, we will map the entire 46,000-mile U.S. interstate highway system.</p><p>In other words, in three years, its AFN route will be 16 times that of today, and L4 autonomous semi-trucks can be seen on major transportation routes in the 48 states of the United States. But the premise is that this plan is successfully achieved.</p><p>If we look at the use of funds raised, it is difficult to judge how Tucson will promote its above-mentioned plan. According to the prospectus, Tucson will mainly use the funds raised from the IPO in the following three aspects: improving financial flexibility and visibility in the market, and hopes to use the net proceeds from this offering for working capital and other general corporate purposes.</p><p>For the financing purposes of autonomous driving companies, the common destinations of funds are team expansion, product promotion and research and development assistance. For example, the latest round of financing of US $500 million by autonomous driving company Momenta is mainly used for product strategy, pushing its product \"flywheel\" further; The financing of Zhijia Technology in February this year will be focused on strengthening cooperation, mainly to build a complete sales and support network; Funding from self-driving delivery company Nuro last November will be used to scale up teams and manufacturing. Tucson apparently didn't choose this regular route.</p><p><b>4. How about commercialization capabilities?</b></p><p>In the prospectus, Tucson said it was the \"first and only\" company to implement L4-level truck autonomous driving technology on highways and surface streets.</p><p>However, \"Jiazi Lightnian\" found that if \"highways\", \"ground streets\" and \"trucks\" are not limited, there are still many companies that say that they have implemented L4 autonomous driving technology, and each company has its own scenario. For example, Pony.ai demonstrated its L4 self-driving heavy truck software and hardware system in November last year.</p><p>In addition, the advantages emphasized by Tucson in the prospectus include: 28,000 miles (approximately 4.506 million kilometers) of road test kilometers, and parts suppliers in tier 1 (including major operators such as Schneider Nationa, U.S. Xpress and Werner Enterprises) and semi-truck original equipment manufacturers Navistar and TRATON cooperate to jointly create an autonomous freight ecosystem, etc.</p><p>This is not without doubt. Domestic autonomous driving industry insiders ask: In this case, why doesn't Tucson provide services to domestic companies? \"On the one hand, the policy environment between China and the United States is different. Autonomous driving depends on the technology of control-by-wire, and whether the technical capabilities of control-by-wire are sufficient or not is on the other hand.\"</p><p>At this stage, in fact, no company can truly achieve commercialization, and players in the industry compete more for commercialization potential.</p><p>Pre-orders have become one of the important indicators to measure commercialization. One of the highlights of Tucson's prospectus is that it has received more than 5,700 pre-orders of intention within 4 months. But like Tucson, Zhijia has also received pre-orders. According to the latest news, PlusDrive (Zhijia Technology's commercial vehicle autonomous driving system) has received more than 10,000 pre-orders for deployment by large fleets and heavy truck OEMs. The delivery time of Zhijia is set for 2021.</p><p>Car companies are running desperately, trying to seize the opportunity. According to the mass production schedule of autonomous vehicles given in the \"Intelligent Connected Vehicle Technology Roadmap 2.0\" released in November last year, it is to achieve the large-scale application of highly autonomous driving technology in 2030. In other words, the official plan to realize L4 is still about 10 years away.</p><p>Even if car companies develop self-driving cars with L4 and above, countries around the world are still exploring the responsibility allocation rules for L4 and above levels. This is also a hurdle that commercialization needs to overcome.</p><p><b>5. There is no timetable for profit</b></p><p>Not only Tucson, but also the marathon of the entire autonomous driving industry has only taken the first step. In terms of profitability, Tucson's statement in the prospectus is: There is no plan yet.</p><p>Like most technology companies, Tucson is still losing money. According to Tucson's prospectus, as of December 31, 2020, Tucson had a total loss of US $405.2 million (approximately RMB 2.64 billion) in five years, and a loss of US $177.9 million (approximately RMB 1.16 billion) in 2020 alone. From 2018 to 2020, Tucson's annual net loss was about twice that of the previous year.</p><p>Losses are likely to continue. Chen Mo once said that it would take about $1 billion to make money from driverless truck freight.</p><p>The AFN ecosystem is still in the early stages of development and commercialization, and there is still a way to go before it can become profitable. In 2020, the surge in Tucson's annual revenue is closely related to the more than 5,700 undelivered pre-orders, but about 75% of these orders are placed by customers who operate commercial truck fleets, which is far from truly market-oriented operations. There is still a distance.</p><p>Autonomous driving is an industry that requires continuous investment in research and development and maintaining innovation capabilities. According to data from research firm PitchBook, startups in the autonomous driving industry spend an average of US $1.6 million (equivalent to 105.1 billion yuan) per month. WeRide CEO Han Xu also revealed the company's spending speed: 300 million US dollars in three years and 500 million US dollars in five years.</p><p>Currently, of Tucson's 839 employees, 673 are R&D personnel, accounting for 80%. From 2018 to 2020, the company's R&D expenditures were US $32.278 million, US $63.619 million and US $132 million respectively, accounting for more than 70% of the total expenditures, and there is a slight upward trend.</p><p>As the commercialization process unfolds, operating costs may continue to increase, which may be delayed<a href=\"https://laohu8.com/S/06838\">When profitable</a>Interval. In the three years from 2018 to 2020, Tucson's marketing expenses were US $1.085 million, US $814,000, and US $1.313 million respectively, accounting for a small proportion of expenditures. However, after the mass production of L4 trucks is truly realized, marketing and market expansion expenses may also rise. Investors also need to consider these factors when calculating the possibility of profitability.</p><p>Take Waymo, a subsidiary of Google, as an example. It provides driverless taxi services to 1,500 passengers in Phoenix, USA every month, but the revenue of this service is only tens of thousands of dollars. Revenue of this scale is almost negligible, but it currently burns Google $1 billion every year. However, people's vision is in the future, according to<a href=\"https://laohu8.com/S/UBS\">UBS</a>(UBS) predicts that by 2030, Waymo's revenue could reach $114 billion.</p><p>The future of Tucson needs to be based on the mass production of half-cards. At present, Tucson's semi-truck test vehicle still needs to be equipped with a safety officer and driver to get on the road. Chen Mo once said that technically, it is a prerequisite for mass production to remove safety officers. Only when the hardware reliability reaches the standard can it be possible to remove the safety officer. For example, only when the power supply of the machine can reach 4000 watt hours can the machine run continuously without downtime, but the current hardware cannot reach this level. If the technical level is insufficient, mass production cannot be achieved, and if mass production cannot be achieved, there is no commercialization.</p><p><b>6. Who holds Tucson?</b></p><p>Before the IPO, TuSimple had completed a total of 10 rounds of financing and raised more than US $650 million. Sina,<a href=\"https://laohu8.com/S/NVDA\">Nvidia</a>, UPS, Navistar, Korean first-class automobile supplier Mando,<a href=\"https://laohu8.com/S/0P6N.UK\">Volkswagen Group</a>TRATON, CDH Investment, etc. are all shareholders of Tucson.</p><p>According to the information in the prospectus, Chen Mo, co-founder and chairman of TuSimple, held 9% of Class A shares and 50% of Class B shares before the IPO; Co-founder and CTO Hou Xiaodi holds 8.3% of Class A shares and 50% of Class B shares.</p><p>Sun Dream Inc., an affiliate of Sina, is Tucson's largest outside shareholder, holding 31 million shares, accounting for about 20% of Class A shares. Sina CEO Cao Guowei and CFO Zhang Yi are both directors of Tucson. In Tucson's A round to D round of financing, Sina Microventure Capital participated in the investment.</p><p>The reason why Sina initially invested in Tucson was probably that it valued its pre-transformation product, that is, the image recognition technology of online advertising, but it didn't expect to become a shareholder of an autonomous driving company.</p><p>After the IPO, Chen Mo will hold 7.6% of the company's Class A shares and 50% of Class B shares; Hou Xiaodi holds 7.1% of Class A shares and 50% of Class B shares. Sun Dream Inc. holds 13.1% of the Class A shares.</p><p>In addition, truck manufacturer Navistar International Corp. (NYSE: NAV) also holds 10.2 million Class A shares (6.5%) in Tucson. After listing, Navistar's shareholding ratio is 5.4%.</p><p>Among the investors in the secondary market, there are also many well-known institutions betting on Tucson. In the subscription news of this IPO,<a href=\"https://laohu8.com/S/BLK\">BlackRock</a>Three investment institutions, BlackRock, Fidelity and Capital World Investors, participated in the IPO subscription as cornerstone investors, subscribing for an average of 3,378,378 shares, and the maximum total subscription of 10,135,134 shares.</p>","source":"lsy1569753395102","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>Dismantling TuSimple: 6 questions to understand the world's first autonomous driving stock</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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\">\nDismantling TuSimple: 6 questions to understand the world's first autonomous driving stock\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">甲子光年</strong><span class=\"h-time small\">2021-04-15 15:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Text/Elegant</p><p>Just tonight, \"the world's first autonomous driving stock\" is coming. If nothing else happens, TuSimple (hereinafter referred to as \"TuSimple\") will be listed on Nasdaq on April 15, Eastern Time, under the stock code TSP.</p><p>Different from the previous expectations of spectators, the \"world's first autonomous driving stock\" was the first to liberate the hands of truck drivers. On March 23 this year, Tucson, a self-driving truck company, submitted an IPO application; On the 7th of this month, it further determined the price range and quantity of stock issuance.</p><p>In this listing, Tucson is preparing to issue 33.78 million ADSs, including 27.02 million shares issued by the company and existing shareholders<a href=\"https://laohu8.com/S/SINA\">SINA</a>6.75 million shares sold. Tucson has established an issue price range of $35 to $39. According to previous disclosures, Tucson hopes to raise 800-1 billion US dollars. If it goes public smoothly, Tucson's overall valuation will be about $5 billion to $7 billion.</p><p>Some analysts believe that Tucson is likely to be able to sell an additional $1 billion in shares \"because investors have an appetite\". The autonomous driving track is currently booming financing. According to the previous exclusive news of \"Jiazi Lightnian\", the autonomous driving company Xidi Zhijia completed two financings within three months, and the latest round of financing far exceeded plan. Xidi Smart Driving is just a microcosm of the entire track. In the first two months of 2021 alone, there have been 24 investment and financing events in the autonomous driving industry, and the total amount of investment and financing disclosed is 17.64 billion yuan.</p><p>With the listing of Tucson, Nasdaq will also welcome the world's first listed autonomous driving company. The close contact between autonomous driving and the stock market kicked off. In the listing competition, Tucson successfully took the lead.</p><p>\"Jiazi Guangnian\" dismantled Tucson's prospectus to see what kind of company it is:</p><p>The driverless track is hot, and this is a good time to land in the secondary market. Tucson successfully took the lead;</p><p>To seize the world's first autonomous driving stock, Tucson wants to prepare food and grass for subsequent business development. According to its plan, Tucson will expand its autonomous freight network (AFN) throughout the continental United States by 2024;</p><p>For the purpose of the funds raised from the listing, Tucson has no R&D and product investment in its current plan;</p><p>Compared with the passenger track, the driverless truck market seems to be a blue ocean. However, the technology landing and commercialization only started, and the marathon only started;</p><p>Tucson is still losing money and has no current profit plans;</p><p>Tucson's largest outside shareholder is Sun Dream Inc., an affiliate of Sina. How did this established Internet company invest in an autonomous driving company? Intriguing.</p><p><b>1. Who is Tucson?</b></p><p>Tucson is a driverless truck brand. Founded in September 2015, it wants to empower the global logistics and transportation industry through artificial intelligence.</p><p>This company claims that its vision is to revolutionize the global trucking market of about $4 trillion. According to the report of consulting firm Armstrong & Associates, the total U.S. freight market has annual revenue of $100 million, and truck freight accounts for 80%. The United States is Tucson's main market right now.</p><p>To achieve this goal, Tucson has developed technologies for semi-trucks, namely commercially available L4 autonomous driving solutions based on computer vision, unmanned transportation solutions for high-speed scenarios and container trucks in ports, plus autonomous freight networks (AFN), Tucson believes will make long-distance trucking safer, more reliable, more efficient and more environmentally friendly.</p><p>The so-called L4 level unmanned driving (High Automation) means that the vehicle can automatically plan the driving route, avoid traffic congestion, etc. under the control of the driving computer, and the owner can operate without intervening.</p><p>In 2020, Tucson earned $1.84 million; That figure was $9,000 in 2018. In fact, similar companies in autonomous driving have ushered in good days recently. In addition to the gradual maturity of technology and the general increase in acceptance, the epidemic has reduced contact between people.</p><p>The current \"TuSimple Future Co., Ltd.\", formerly known as \"Beijing TuSimple Internet Technology Co., Ltd.\" In 2017, the company changed its name to \"TuSimple\", and its business also shifted from providing technical services to autonomous driving. At that time, founder Chen Mo took a fancy to the hot autonomous driving. Chen Mo advertises himself as \"a pragmatist\" and will choose the road closest to money.</p><p>This is also Chen Mo's fifth venture. Before founding Tucson, Chen Mo participated in the operation of three companies successively, namely Sky Advertising (a building advertising platform), Deep Blue Brothers (page game chess platform) and Cheguo.com (automobile O2O trading platform). However, in addition to taking the lead, starting a business also requires a little luck. The first three ventures collapsed in the middle of the road until Tucson came into existence.</p><p>Tucson's technical background comes from another founding member, CTO Hou Xiaodi, who is a Ph.D. in computing and nervous system at Caltech. He founded the theory of visual attention mechanism based on the frequency domain, and was called the prototype of \"campus hacker\" by the media.</p><p><b>2. Why did you choose a truck?</b></p><p>Autonomous driving can be divided into passenger field and commercial field. The semi-truck selected by Tucson belongs to the commercial field of unmanned driving. Domestic analysts often regard Tucson, Zhijia, and Pony.ai as the \"three treasures of new forces\" in the unmanned freight market.</p><p>The market space of passenger cars is far larger than that of commercial vehicles. Chen Mo once told the media that their (passenger car) market is nearly 10 times that of ours. This makes the track in the passenger field more crowded. An entrepreneur in the autonomous driving industry told \"Jiazi Lightnian\" that from<a href=\"https://laohu8.com/S/GOOG\">Google</a>、<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Entrepreneurs coming out of the direction of autonomous driving will give priority to passenger car projects. For example, Wang Jin, founder of WeRide (formerly Jingchi Technology), and Lou Tiancheng, founder of Pony.ai, both chose the passenger field.</p><p>However, because passenger cars are directly related to people, safety issues have become a higher threshold, making it more difficult to implement and commercialize. In 2018, he developed autonomous driving in the field of passenger cars<a href=\"https://laohu8.com/S/V03.SI\">Startups</a>Many of them didn't make it to this day.</p><p>Relatively speaking, the commercial field is actually easier to land. Chris Urmson, the pioneer of Google's autonomous vehicle and the founder of Aurora, once explained this: If you have a person in the back seat of your autonomous driving vehicle, there will be many concerns. If there is a roll of toilet paper behind it, it will be much less difficult to implement.</p><p>At the same time, as far as the driverless truck market is concerned, the market space is actually not small. McKinsey's data gives evidence: by using driverless truck systems, the overall operating costs of the U.S. trucking industry will drop by about 45%, saving about 85 billion to 125 billion dollars. In China, the situation is exactly the same. Tucson described his career as \"an industry worth $800 billion\" in his recruitment column in official website.</p><p>There are relatively few competitors in the unmanned truck freight market. Sam Abuelsamid, principal research analyst at Guidehouse Insights and senior contributor to Forbes, once said when evaluating Tucson: In the AV (autonomous) truck industry, they must be one of the leaders, if not the leaders.</p><p>It's a fairly small group. In order to avoid fierce competition from passenger cars, some self-driving companies have turned to truck freight. Since April 2019, Pony.ai has also begun to focus on the truck freight market. Previously, it focused on the passenger car market.</p><p><b>3. What to use to attract investors?</b></p><p>In the process of capital markets, Tucson took the lead. Zhijia Technology is Tucson's direct competitor. Bloomberg previously reported that Zhijia wants to go public as a SPAC in early 2021, but there has been no new progress so far.</p><p>\"Taking the lead\" is also very Chen Mo's style. Previously, when he talked on the phone with Yuan Hongming, chairman of Shaanxi Automobile, he said: If others do it first, if you slow down, wouldn't the market be occupied?</p><p>What does Tucson rely on to attract investors in the secondary market after successfully taking the lead? Transforming the truck market isn't that sexy, and driverless is not a familiar thing.</p><p>One of the cards Tucson has played is high growth. In 2020, it received more than 5,700 intentional pre-orders, and its financial revenue increased by 160% year-on-year. However, this is because the base is relatively small. Even for the whole year of 2020, Tucson's total revenue is only $1.843 million.</p><p>Possible growth in the future is the bigger temptation Tucson gives. In 2020, Tucson launched the world's first driverless freight network (AFN), which is the basis for its commercialization. It says this in the prospectus: It is expected that by 2024, we will map the entire 46,000-mile U.S. interstate highway system.</p><p>In other words, in three years, its AFN route will be 16 times that of today, and L4 autonomous semi-trucks can be seen on major transportation routes in the 48 states of the United States. But the premise is that this plan is successfully achieved.</p><p>If we look at the use of funds raised, it is difficult to judge how Tucson will promote its above-mentioned plan. According to the prospectus, Tucson will mainly use the funds raised from the IPO in the following three aspects: improving financial flexibility and visibility in the market, and hopes to use the net proceeds from this offering for working capital and other general corporate purposes.</p><p>For the financing purposes of autonomous driving companies, the common destinations of funds are team expansion, product promotion and research and development assistance. For example, the latest round of financing of US $500 million by autonomous driving company Momenta is mainly used for product strategy, pushing its product \"flywheel\" further; The financing of Zhijia Technology in February this year will be focused on strengthening cooperation, mainly to build a complete sales and support network; Funding from self-driving delivery company Nuro last November will be used to scale up teams and manufacturing. Tucson apparently didn't choose this regular route.</p><p><b>4. How about commercialization capabilities?</b></p><p>In the prospectus, Tucson said it was the \"first and only\" company to implement L4-level truck autonomous driving technology on highways and surface streets.</p><p>However, \"Jiazi Lightnian\" found that if \"highways\", \"ground streets\" and \"trucks\" are not limited, there are still many companies that say that they have implemented L4 autonomous driving technology, and each company has its own scenario. For example, Pony.ai demonstrated its L4 self-driving heavy truck software and hardware system in November last year.</p><p>In addition, the advantages emphasized by Tucson in the prospectus include: 28,000 miles (approximately 4.506 million kilometers) of road test kilometers, and parts suppliers in tier 1 (including major operators such as Schneider Nationa, U.S. Xpress and Werner Enterprises) and semi-truck original equipment manufacturers Navistar and TRATON cooperate to jointly create an autonomous freight ecosystem, etc.</p><p>This is not without doubt. Domestic autonomous driving industry insiders ask: In this case, why doesn't Tucson provide services to domestic companies? \"On the one hand, the policy environment between China and the United States is different. Autonomous driving depends on the technology of control-by-wire, and whether the technical capabilities of control-by-wire are sufficient or not is on the other hand.\"</p><p>At this stage, in fact, no company can truly achieve commercialization, and players in the industry compete more for commercialization potential.</p><p>Pre-orders have become one of the important indicators to measure commercialization. One of the highlights of Tucson's prospectus is that it has received more than 5,700 pre-orders of intention within 4 months. But like Tucson, Zhijia has also received pre-orders. According to the latest news, PlusDrive (Zhijia Technology's commercial vehicle autonomous driving system) has received more than 10,000 pre-orders for deployment by large fleets and heavy truck OEMs. The delivery time of Zhijia is set for 2021.</p><p>Car companies are running desperately, trying to seize the opportunity. According to the mass production schedule of autonomous vehicles given in the \"Intelligent Connected Vehicle Technology Roadmap 2.0\" released in November last year, it is to achieve the large-scale application of highly autonomous driving technology in 2030. In other words, the official plan to realize L4 is still about 10 years away.</p><p>Even if car companies develop self-driving cars with L4 and above, countries around the world are still exploring the responsibility allocation rules for L4 and above levels. This is also a hurdle that commercialization needs to overcome.</p><p><b>5. There is no timetable for profit</b></p><p>Not only Tucson, but also the marathon of the entire autonomous driving industry has only taken the first step. In terms of profitability, Tucson's statement in the prospectus is: There is no plan yet.</p><p>Like most technology companies, Tucson is still losing money. According to Tucson's prospectus, as of December 31, 2020, Tucson had a total loss of US $405.2 million (approximately RMB 2.64 billion) in five years, and a loss of US $177.9 million (approximately RMB 1.16 billion) in 2020 alone. From 2018 to 2020, Tucson's annual net loss was about twice that of the previous year.</p><p>Losses are likely to continue. Chen Mo once said that it would take about $1 billion to make money from driverless truck freight.</p><p>The AFN ecosystem is still in the early stages of development and commercialization, and there is still a way to go before it can become profitable. In 2020, the surge in Tucson's annual revenue is closely related to the more than 5,700 undelivered pre-orders, but about 75% of these orders are placed by customers who operate commercial truck fleets, which is far from truly market-oriented operations. There is still a distance.</p><p>Autonomous driving is an industry that requires continuous investment in research and development and maintaining innovation capabilities. According to data from research firm PitchBook, startups in the autonomous driving industry spend an average of US $1.6 million (equivalent to 105.1 billion yuan) per month. WeRide CEO Han Xu also revealed the company's spending speed: 300 million US dollars in three years and 500 million US dollars in five years.</p><p>Currently, of Tucson's 839 employees, 673 are R&D personnel, accounting for 80%. From 2018 to 2020, the company's R&D expenditures were US $32.278 million, US $63.619 million and US $132 million respectively, accounting for more than 70% of the total expenditures, and there is a slight upward trend.</p><p>As the commercialization process unfolds, operating costs may continue to increase, which may be delayed<a href=\"https://laohu8.com/S/06838\">When profitable</a>Interval. In the three years from 2018 to 2020, Tucson's marketing expenses were US $1.085 million, US $814,000, and US $1.313 million respectively, accounting for a small proportion of expenditures. However, after the mass production of L4 trucks is truly realized, marketing and market expansion expenses may also rise. Investors also need to consider these factors when calculating the possibility of profitability.</p><p>Take Waymo, a subsidiary of Google, as an example. It provides driverless taxi services to 1,500 passengers in Phoenix, USA every month, but the revenue of this service is only tens of thousands of dollars. Revenue of this scale is almost negligible, but it currently burns Google $1 billion every year. However, people's vision is in the future, according to<a href=\"https://laohu8.com/S/UBS\">UBS</a>(UBS) predicts that by 2030, Waymo's revenue could reach $114 billion.</p><p>The future of Tucson needs to be based on the mass production of half-cards. At present, Tucson's semi-truck test vehicle still needs to be equipped with a safety officer and driver to get on the road. Chen Mo once said that technically, it is a prerequisite for mass production to remove safety officers. Only when the hardware reliability reaches the standard can it be possible to remove the safety officer. For example, only when the power supply of the machine can reach 4000 watt hours can the machine run continuously without downtime, but the current hardware cannot reach this level. If the technical level is insufficient, mass production cannot be achieved, and if mass production cannot be achieved, there is no commercialization.</p><p><b>6. Who holds Tucson?</b></p><p>Before the IPO, TuSimple had completed a total of 10 rounds of financing and raised more than US $650 million. Sina,<a href=\"https://laohu8.com/S/NVDA\">Nvidia</a>, UPS, Navistar, Korean first-class automobile supplier Mando,<a href=\"https://laohu8.com/S/0P6N.UK\">Volkswagen Group</a>TRATON, CDH Investment, etc. are all shareholders of Tucson.</p><p>According to the information in the prospectus, Chen Mo, co-founder and chairman of TuSimple, held 9% of Class A shares and 50% of Class B shares before the IPO; Co-founder and CTO Hou Xiaodi holds 8.3% of Class A shares and 50% of Class B shares.</p><p>Sun Dream Inc., an affiliate of Sina, is Tucson's largest outside shareholder, holding 31 million shares, accounting for about 20% of Class A shares. Sina CEO Cao Guowei and CFO Zhang Yi are both directors of Tucson. In Tucson's A round to D round of financing, Sina Microventure Capital participated in the investment.</p><p>The reason why Sina initially invested in Tucson was probably that it valued its pre-transformation product, that is, the image recognition technology of online advertising, but it didn't expect to become a shareholder of an autonomous driving company.</p><p>After the IPO, Chen Mo will hold 7.6% of the company's Class A shares and 50% of Class B shares; Hou Xiaodi holds 7.1% of Class A shares and 50% of Class B shares. Sun Dream Inc. holds 13.1% of the Class A shares.</p><p>In addition, truck manufacturer Navistar International Corp. (NYSE: NAV) also holds 10.2 million Class A shares (6.5%) in Tucson. After listing, Navistar's shareholding ratio is 5.4%.</p><p>Among the investors in the secondary market, there are also many well-known institutions betting on Tucson. In the subscription news of this IPO,<a href=\"https://laohu8.com/S/BLK\">BlackRock</a>Three investment institutions, BlackRock, Fidelity and Capital World Investors, participated in the IPO subscription as cornerstone investors, subscribing for an average of 3,378,378 shares, and the maximum total subscription of 10,135,134 shares.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://finance.sina.com.cn/tech/csj/2021-04-15/doc-ikmyaawa9815441.shtml\">甲子光年</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c360efedfdf306e30d535692b886657e","relate_stocks":{},"source_url":"http://finance.sina.com.cn/tech/csj/2021-04-15/doc-ikmyaawa9815441.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111977847","content_text":"文/高雅\n就在今天晚上，“全球自动驾驶第一股”要来了。如果不出意外，美东时间4月15日，图森未来（以下简称“图森”）将在纳斯达克上市，股票代码TSP。\n与此前看客们的期待不同，“全球自动驾驶第一股”率先解放的，是货车司机们的双手。今年3月23日，自动驾驶卡车企业图森递交了IPO申请；本月7日，其进一步确定了股票发行价格区间和发售数量。\n此次上市，图森准备发行3,378万股ADS，其中包含公司发行的2,702万股和现有股东新浪出售的675万股。图森已确定的发行价区间为35美元到39美元。按此前披露，图森希望能募集8~10亿美元。如果顺利上市，图森的整体估值约为50~70亿美元。\n有分析师认为，图森很可能能多出售10亿美元的股票，“因为投资人有胃口”。自动驾驶赛道当下融资火热。据“甲子光年”此前的独家消息，自动驾驶公司希迪智驾在三个月内完成了两次融资，最新一轮融资也远超计划。希迪智驾只是整个赛道的一个缩影，仅在2021的前两个月，自动驾驶行业的投融资事件已有24起，披露投融资总金额为176.4亿元。\n随着图森上市，纳斯达克也将迎来全球第一家上市的自动驾驶公司。自动驾驶与股市的亲密接触拉开序幕。在上市这场竞逐赛中，图森抢跑成功。\n“甲子光年”拆解了图森的招股书，来看看这是家什么样的企业：\n无人驾驶赛道火热，此时是登陆二级市场的好时候，图森抢跑成功；\n抢占全球自动驾驶第一股，图森是要为后续业务开展准备粮草。按其计划，到2024年图森要在整个美国大陆扩展其自主货运网络（AFN）；\n上市募集的资金用途，图森目前的计划中没有研发和产品投入；\n相比乘用赛道，无人驾驶货车市场似乎是片蓝海。但技术落地、商业化才起步，马拉松才开跑；\n图森仍在亏损，目前没有盈利计划；\n图森最大的外部股东是新浪的关联公司Sun Dream Inc.。这家老牌互联网公司怎么投出了一家自动驾驶公司？耐人寻味。\n1.图森是谁？\n图森是一个无人驾驶卡车品牌。它成立于2015年9月，想要通过人工智能为全球物流运输业赋能。\n这家公司宣称，其愿景是彻底变革约4万亿美元全球卡车运输市场。咨询机构Armstrong & Assocates的报告称，其中美国总货运市场年收入为1亿美元，卡车货运又占80%。美国是图森目前的主要市场。\n为实现这个目的，图森开发了针对半卡车的技术，即计算机视觉为主的可商用L4级自动驾驶解决方案、高速场景及港内集装箱卡车的无人驾驶运输解决方案，加上自动驾驶货运网络(AFN)，图森相信将使长途卡车运输更加安全、可靠、高效、环保。\n所谓L4级无人驾驶（High Automation），是指车辆在行车电脑的控制下能自动规划行驶路线、躲避交通拥堵路段等，车主可以不介入操作。\n2020年，图森收入184万美元；2018年这个数字为9000美元。实际上自动驾驶的同类公司近期都迎来了好日子，除了技术逐渐走向成熟、接受度普遍提高，还有疫情减少了人和人之间的接触。\n现在的“图森未来有限公司”，前身是“北京图森互联科技有限责任公司”。2017年时公司更名为“图森未来”，业务也从提供技术服务转向自动驾驶。当时，创始人陈墨看上了火热的自动驾驶。陈墨标榜自己是“一名实用主义者”，会选择离钱最近的道路。\n这也是陈墨的第五次创业。在创立图森之前，陈墨先后参与运营了三家公司，分别是苍穹广告（一家楼宇广告平台）、深蓝兄弟（页游棋牌平台）和车国网（汽车O2O交易平台）。只不过，创业除了要抢先机，还需要一点运气。前三次创业先后中道崩殂，直到有了图森。\n图森的技术底色则来源于另一位创始成员、CTO侯晓迪，后者是加州理工计算与神经系统的博士，创立了基于频域的视觉注意机制理论，被媒体称为是“校园黑客”的原型。\n2.为什么选了卡车？\n自动驾驶可以被分为乘用领域和商用领域。图森选择的半卡属于无人驾驶的商用领域。国内分析人士常把图森、智加、小马智行看作是无人货运市场的“新势力三宝”。\n乘用车的市场空间远远大于商用车。陈墨就曾对媒体表示，他们（乘用车）的市场是我们的将近10倍。这造成了乘用领域的赛道更拥挤。一位自动驾驶行业的创业者告诉“甲子光年”，此前从谷歌、百度自动驾驶方向出来的创业者都会优先选乘用车项目。比如文远知行（原景驰科技）创始人王劲、小马智行创始人楼天城都选择了乘用领域。\n但乘用车因为与人直接相关，安全问题成了一道较高的门槛，导致其落地和商业化难度更高。曾在2018年发力乘用车领域的自动驾驶创业公司，有不少没能撑到今天。\n相对而言，商用领域其实更好落地。Google无人车的开创者、Aurora创始人克里斯·厄姆森曾经这样解释：如果你的自动驾驶后座上是个人，那顾虑会很多。如果后面就是一卷卫生纸，那实现起来难度就会小得多。\n同时，仅无人驾驶货车市场而言，其实市场空间不小。麦肯锡的数据给出了佐证：通过利用无人驾驶货车系统，美国卡车运输业的整体运营成本将下降约45%，可节省约850亿至1250亿美元。在中国，情况也如出一辙。图森在自己官网的招聘栏目中，将自己的事业描述为“一个价值8000亿美元的产业”。\n无人卡车货运市场竞争者相对较少。Guidehouse Insights首席研究分析师、《福布斯》资深撰稿人萨姆·阿伯萨米德(Sam Abuelsamid)评价图森时就曾说过：在AV（自动驾驶）卡车行业，他们即使不是领导者，也肯定是领导者之一。\n这是一个相当小的群体。为避开乘用车的激烈竞争，也有自动驾驶企业转向卡车货运的。2019年4月起，小马智行也开始发力卡车货运市场，此前其专注的是乘用车市场。\n3.拿什么吸引投资人？\n在资本市场的进程中，图森抢先了一步。智加科技是图森的直接竞争对手，此前彭博社就报道过智加想在2021年初以SPAC方式上市的消息，不过迄今没有新的进展。\n“抢先”也很有陈默的风格。此前其与陕汽董事长袁宏明通电话时就曾说过：要是别人先做起来了，您慢一步，市场不就被占光了？\n抢跑成功的图森，靠什么吸引二级市场投资人？变革卡车市场并不那么性感，无人驾驶也不是耳熟能详的事情。\n图森打出来的一张牌，是高增长。2020年它拿到了5700多个意向预订单，财务收入同比增长160%。不过，这是因为基数比较小，即使2020年全年，图森的总收入也不过184.3万美元。\n未来的可能增长是图森给出的更大诱惑。2020年，图森启动了全球首个无人驾驶货运网络（AFN），这是其商业化的基础。它在招股书中这么说：预计到2024年，我们将绘制整个4.6万英里的美国州际公路系统。\n也就是说，3年后其AFN的路线将是今天的16倍，到时候美国48个州的主要运输路线上都可以看到L4自主半卡车。但前提是，这个计划要顺利达成。\n如果从募资资金的用途看，还很难判断图森将如何推动它的上述规划。按招股书披露，图森将IPO募集的资金主要用于以下三方面：提高财务灵活性以及在市场上的知名度，并希望将此次发行的净收益用于营运资金和其他一般公司用途。\n自动驾驶公司的融资用途，常见的资金去向为扩建团队、产品推广和助力研发。比如自动驾驶公司Momenta最新一轮5亿美元的融资主要用于产品战略，将其产品“飞轮”推往更远的地方；智加科技今年2月的融资将放在强化合作上，主要用于构建完善的销售和支持网络；自动驾驶送货公司Nuro去年11月的融资将用于扩大团队和制造规模。图森显然没有选择这条常规路线。\n4.商业化能力怎么样？\n在招股书中，图森说自己是“第一家也是唯一一家”在高速公路和地面街道上实现L4级别卡车自动驾驶技术的公司。\n但“甲子光年”发现，如果不限定“高速公路”、“地面街道”和“卡车”，说自己实现了L4级自动驾驶技术的还有很多家，每家都有各自的场景。比如小马智行去年11月就展示了L4级自动驾驶重卡软硬件系统。\n此外，图森在招股书中强调的优势还包括：2.8万英里（约合450.6万公里）的路测公里数、和处于tier 1的零部件供应商（其中包括Schneider Nationa，U.S.Xpress和Werner Enterprises等主要运营商）以及半卡车原始设备制造商Navistar和TRATON合作，共同打造自动驾驶的货运生态等等。\n对此，并不是没有质疑。国内自动驾驶业内人士就问：既然如此，为什么图森没给国内的公司提供服务呢？“中美的政策环境不一样是一方面，自动驾驶还要看线控的技术，线控的技术能力够不够是另一方面。”\n在当前这个阶段，实际上还没有哪一家公司能真正实现商业化，行业内的选手比拼的更多是商业化的潜力。\n预订单成了衡量商业化落地的重要指标之一。图森招股书中的一大亮点是，其在4个月内获得了5700多个意向预订单。但与图森一样，智加也拿到预订单，按照最新消息，PlusDrive（智加科技商用车自动驾驶系统）已获得超过10,000台可供大型车队及重卡主机厂部署的预定单。智加的交付时间定在了2021年。\n车企们都在拼命奔跑，试图抢占先机。按照去年11月发布的《智能网联汽车技术路线图2.0》给出的自动驾驶车型量产时间表，是在2030年实现高度自动驾驶技术的规模应用。也就是说，实现L4的官方计划大约还有10年。\n即使车企研发出了具备L4及以上的自动驾驶汽车，目前世界各国对L4以上级别的责任分配规则仍还在探索中。这也是商业化需要迈过的一道坎儿。\n5.盈利还没有时间表\n不仅图森，自动驾驶整个行业的马拉松也才迈出第一步。表现在盈利上，图森在招股书中的表述是：还没有计划。\n像大部分科技公司一样，图森仍处于亏损状态。据图森招股书，截至2020年12月31日，图森5年共计亏损4.052亿美元（约为人民币26.4亿），仅2020年全年就亏损了1.779亿美元（约为人民币11.6亿）。从2018年到2020年，图森每年的净亏损额度都是上一年的两倍左右。\n亏损极有可能还将持续。陈默曾说过，要实现无人驾驶卡车货运赚钱，大概需要10亿美元。\nAFN生态系统目前仍处于开发和商业化早期的阶段，要想实现盈利还有一段路要走。2020年，图森全年营收的暴增与那5700多个未交付的预订单紧密相关，但这些订单中大约75%是由运营商用卡车车队的客户提出的，离着真正市场化运营还有距离。\n自动驾驶是一个需要不断投入研发、保持创新能力的行业。据研究机构PitchBook数据，自动驾驶行业里的创业公司平均每月耗掉160万美金（折合1051亿元人民币）。文远知行CEO韩旭也曾透露过公司的花钱速度：3年3亿美元，5年5亿美元。\n目前，图森839名员工中，673人都是研发人员，占比80%。2018至2020年，公司的研发支出分别为3227.8万美元、6361.9万美元和1.32亿美元，在总支出中的占比都超过七成，而且有略微上升的势头。\n随着商业化过程的展开，运营成本可能持续增加，这可能延后盈利时间。在2018至2020年的三年间，图森的营销费用分别为108.5万美元、81.4万美元、131.3万美元，占支出比重较小。但真正实现L4卡车量产后，营销、市场拓展费用也有可能水涨船高，投资人们在计算盈利可能性时也需要考虑这些因素。\n以谷歌旗下的Waymo为例，每个月给美国凤凰城1500名乘客提供无人驾驶出租车服务，但这项服务的营收不过区区上万美元。这样规模的营收几乎可以忽略不计，但目前每年都要烧掉谷歌10亿美元。不过人们的眼光在未来，据瑞银(UBS)预测，到2030年，Waymo的营收可能达到1140亿美元。\n图森的未来，需要建立在半卡的量产基础上。目前，图森的半卡测试车还需要配备一位安全员和司机才能上路。陈墨曾表示，技术上可以去掉安全员是量产的前提。只有硬件可靠性达标时，才有可能去掉安全员。比如，在机器供电可以达到4000瓦时，机器才可以持续运行、不出现宕机的情况，而目前的硬件还无法达到这个水平。技术水平不足就无法实现量产，没法量产就谈不上商业化。\n6.谁在持有图森？\n在IPO之前，图森已经累计获得完成10轮融资、累计募资超过6.5亿美元，新浪、英伟达、UPS、Navistar、韩国汽车一级供应商万都、大众集团TRATON、鼎晖投资等都是图森的股东。\n按招股书信息，IPO之前图森未来联合创始人、董事长陈默持有9%的A类股，50%的B类股；联合创始人、CTO侯晓迪持有8.3%的A类股，及50%的B类股。\n新浪的关联公司Sun Dream Inc.是图森最大的外部股东，持有3,100万股股票，占A级股比例约20%。新浪CEO曹国伟、CFO张怿都是图森董事。在图森A轮到D轮的融资中，新浪微创投均参与投资。\n新浪最初投资图森的原因，很可能是看重其转型前的产品，即在线广告的图像识别技术，没想到成了一家自动驾驶公司的股东。\nIPO后，陈默将持有公司7.6%的A类股，及50%的B类股；侯晓迪持有7.1%的A类股，及50%的B类股。Sun Dream Inc.持股13.1%的A类股。\n此外，卡车制造商Navistar International Corp.（NYSE：NAV）也持有图森1020万A类股（6.5%），上市之后，Navistar的持股比例为5.4%。\n二级市场的投资人中，也不乏知名机构押注图森的。此次IPO的认购消息中，贝莱德（BlackRock）、富达（Fidelity）和资本世界投资者(Capital World Investors)三家投资机构作为基石投资者参与IPO认购，平均认购3,378,378股，最高一共认购10,135,134股。","news_type":1,"symbols_score_info":{"TSP":0.9}},"isVote":1,"tweetType":1,"viewCount":642,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":347136606,"gmtCreate":1618473804105,"gmtModify":1704711369066,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"Good ?&nbsp;","listText":"Good ?&nbsp;","text":"Good ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/347136606","repostId":"1158737349","repostType":4,"repost":{"id":"1158737349","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":1618472281,"share":"https://ttm.financial/m/news/1158737349?lang=en_US&edition=fundamental","pubTime":"2021-04-15 15:38","market":"hk","language":"zh","title":"Spokesperson of the Ministry of Commerce: For e-commerce companies, adhere to equal emphasis on development and standardization","url":"https://stock-news.laohu8.com/highlight/detail?id=1158737349","media":"老虎资讯综合","summary":"针对近日$阿里巴巴(BABA)$集团被罚180亿元引发外界关注一事，商务部新闻发言人高峰表示：关于电子商务行业，我们始终坚持发展与规范并重的原则。我们支持企业创新发展、良性竞争，同时也致力于营造公平竞争的市场环境，这有利于行业整体的可持续性。\n\n此前，商务部公开征求《移动电子商务服务类商品经营规范》行业标准（征求意见稿）意见。","content":"<p>For recent days<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>The group was fined 18 billion yuan, which attracted the attention of the outside world. Gao Feng, spokesman of the Ministry of Commerce, said: Regarding the e-commerce industry, we always adhere to the principle of paying equal attention to development and standardization. We support the innovative development and healthy competition of enterprises, and at the same time, we are committed to creating a fair competitive market environment, which is conducive to the overall sustainability of the industry.</p><p>Previously, the Ministry of Commerce publicly solicited opinions on the industry standard (draft for comments) of \"Mobile E-commerce Service Commodity Operation Specifications\".</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>Spokesperson of the Ministry of Commerce: For e-commerce companies, adhere to equal emphasis on development and standardization</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\">\nSpokesperson of the Ministry of Commerce: For e-commerce companies, adhere to equal emphasis on development and standardization\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\">2021-04-15 15:38</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>For recent days<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>The group was fined 18 billion yuan, which attracted the attention of the outside world. Gao Feng, spokesman of the Ministry of Commerce, said: Regarding the e-commerce industry, we always adhere to the principle of paying equal attention to development and standardization. We support the innovative development and healthy competition of enterprises, and at the same time, we are committed to creating a fair competitive market environment, which is conducive to the overall sustainability of the industry.</p><p>Previously, the Ministry of Commerce publicly solicited opinions on the industry standard (draft for comments) of \"Mobile E-commerce Service Commodity Operation Specifications\".</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/995418fbbbc235e75883dec898dccaa8","relate_stocks":{"09988":"阿里巴巴-W","BABA":"阿里巴巴"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158737349","content_text":"针对近日阿里巴巴集团被罚180亿元引发外界关注一事，商务部新闻发言人高峰表示：关于电子商务行业，我们始终坚持发展与规范并重的原则。我们支持企业创新发展、良性竞争，同时也致力于营造公平竞争的市场环境，这有利于行业整体的可持续性。此前，商务部公开征求《移动电子商务服务类商品经营规范》行业标准（征求意见稿）意见。","news_type":1,"symbols_score_info":{"09988":0.9,"BABA":0.9}},"isVote":1,"tweetType":1,"viewCount":518,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":347136304,"gmtCreate":1618473795308,"gmtModify":1704711368580,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"Good ?&nbsp;","listText":"Good ?&nbsp;","text":"Good ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/347136304","repostId":"1144322767","repostType":4,"repost":{"id":"1144322767","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":1618470804,"share":"https://ttm.financial/m/news/1144322767?lang=en_US&edition=fundamental","pubTime":"2021-04-15 15:13","market":"us","language":"zh","title":"Female version of Buffett Cathie Wood buys a lot of Coinbase","url":"https://stock-news.laohu8.com/highlight/detail?id=1144322767","media":"老虎资讯综合","summary":"4月15日讯，Cathie wood领导的方舟投资管理公司（ARK）在周三购买了749205股Coinbase的股票，该股昨日登陆纳斯达克。其中ARK Innovation ETF增持了512535股","content":"<p>On April 15, ARK Investment Management (ARK), led by Cathie wood, purchased 749,205 shares of Coinbase on Wednesday, and the stock landed on Nasdaq yesterday. among<a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>Increased its holdings by 512,535 shares, accounting for 0.76% of this ETF,<a href=\"https://laohu8.com/S/ARKF\">ARK Fintech Innovation ETF</a>Added 89,589 shares, accounting for about 0.76% of this ETF,<a href=\"https://laohu8.com/S/ARKW\">ARK Next Generation Internet ETF</a>It added 147081 shares, or approximately 0.76% of this ETF. ARK Sold 242755 Shares<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Shares to balance its portfolio, but Tesla remains its largest holding target, and ARK recently raised its price target on Tesla stock to $3,000.</p><p><img src=\"https://static.tigerbbs.com/2821934ec2f5164b134ce7fbcfa02af5\" tg-width=\"840\" tg-height=\"470\"></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>Female version of Buffett Cathie Wood buys a lot of Coinbase</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\">\nFemale version of Buffett Cathie Wood buys a lot of Coinbase\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\">2021-04-15 15:13</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On April 15, ARK Investment Management (ARK), led by Cathie wood, purchased 749,205 shares of Coinbase on Wednesday, and the stock landed on Nasdaq yesterday. among<a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>Increased its holdings by 512,535 shares, accounting for 0.76% of this ETF,<a href=\"https://laohu8.com/S/ARKF\">ARK Fintech Innovation ETF</a>Added 89,589 shares, accounting for about 0.76% of this ETF,<a href=\"https://laohu8.com/S/ARKW\">ARK Next Generation Internet ETF</a>It added 147081 shares, or approximately 0.76% of this ETF. ARK Sold 242755 Shares<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Shares to balance its portfolio, but Tesla remains its largest holding target, and ARK recently raised its price target on Tesla stock to $3,000.</p><p><img src=\"https://static.tigerbbs.com/2821934ec2f5164b134ce7fbcfa02af5\" tg-width=\"840\" tg-height=\"470\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/65c311493c987421f591a33023f76079","relate_stocks":{"COIN":"Coinbase Global, Inc."},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1144322767","content_text":"4月15日讯，Cathie wood领导的方舟投资管理公司（ARK）在周三购买了749205股Coinbase的股票，该股昨日登陆纳斯达克。其中ARK Innovation ETF增持了512535股，占该ETF的0.76%，ARK Fintech Innovation ETF增持了89589股，约占该ETF的0.76% ，ARK Next Generation Internet ETF增持了147081股，约占该ETF的0.76% 。ARK出售了242755股特斯拉股份，以平衡其投资组合，但特斯拉仍是其最大的持仓标的，最近ARK将特斯拉股票的目标价格提高到3000美元。","news_type":1,"symbols_score_info":{"COIN":0.9}},"isVote":1,"tweetType":1,"viewCount":617,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":346937291,"gmtCreate":1617979224213,"gmtModify":1704705620536,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/346937291","repostId":"1174854738","repostType":4,"repost":{"id":"1174854738","kind":"news","pubTimestamp":1617975823,"share":"https://ttm.financial/m/news/1174854738?lang=en_US&edition=fundamental","pubTime":"2021-04-09 21:43","market":"us","language":"zh","title":"298 cases in a single season! Why is the \"backdoor\" of US stocks so crazy?","url":"https://stock-news.laohu8.com/highlight/detail?id=1174854738","media":"e公司官微","summary":"“此前通常都是一些不太知名的企业热衷于SPAC，但是近几个月来，知名投行和顶级企业也在快速加入SPAC军团，带动了这一金融产品越来越热。”德勤中国全国上市业务组华北区主管合伙人林国恩对证券时报记者介绍","content":"<p>\"Previously, some lesser-known companies were usually keen on SPAC, but in recent months, well-known investment banks and top companies have also rapidly joined the SPAC army, which has driven this financial product to become more and more popular.\" Deloitte China Lin Guoen, managing partner of the North China Region of the National Listing Business Group, told the Securities Times reporter, \"Now more and more Deloitte customers are also consulting us about the business content of SPAC, forcing us to conduct more and more in-depth research on it.\"</p><p>Statistics show that in the first quarter of this year, the number of SPAC listings and the amount of financing in the U.S. market have exceeded that of the whole of last year. Deloitte predicts that this year's SPAC transactions will set a new record.</p><p>Against the background of the continued popularity of SPACs, Hong Kong and other places have recently reported news about studying the feasibility of SPACs. But at the same time, the United States is considered to be ushering in a time window for tightening regulations. Some investment bankers told reporters that the listing of SPACs in the future may have new variations in some regions.</p><p><b>1. SPAC heat wave</b></p><p>On April 6, Faraday Future officially submitted S4 listing documents to the US Securities and Exchange Commission. This means that Jia Yueting, who is burdened with huge debts, has taken another step closer to the door of securitization. If progress goes smoothly, according to the investment bank's forecast, Faraday Future is expected to land on Nasdaq in the second quarter, and the listing and trading process may be completed within May.</p><p>It is worth noting that Faraday Future's road to connect with the capital market is not the usual IPO channel, but a plan to merge with a certain SPAC company Property Solutions and list under the stock code \"FFIE\". Property Solutions, a special purpose acquisition company, hopes to raise more than $400 million to support the deal, which will value the company at about $3 billion after the merger.</p><p>According to industry management, as a \"special purpose acquisition company\", SPAC is a listed \"shell company\" by raising funds from mutual funds, hedge funds, etc. The company has no other substantial assets except funds. SPAC companies help them achieve their listing purposes by looking for unlisted target companies, investing in and acquiring them. If the merger and acquisition is not completed within 18 or 24 months, then the \"shell company\" will face liquidation, returning all funds in the escrow account to investors in full with interest.</p><p>Faraday Future is not the first SPAC listing in the United States. In 2019, Richard, the nearly seventy-year-old founder of Virgin Group, once rang the bronze bell for the company's listing, and his annual income was only a few hundred thousand dollars<a href=\"https://laohu8.com/S/SPCE\">Virgin Galactic</a>The listing was achieved by merging it with a SPAC company with the stock code IPOA. After ringing the bell,<a href=\"https://laohu8.com/S/SPCE\">Virgin Galactic</a>The stock price tripled in three months, and once rose from $10 to more than $60 in the following year.</p><p>In addition, the SPAC company of Li Zekai, the son of Li Ka-shing, who has established his own business, also successfully IPO on Nasdaq last year, code-named BTWN. In March,<a href=\"https://laohu8.com/S/00017\">New World Development</a>Vice Chairman and Chief Executive Officer Zheng Zhigang was also revealed to plan to set up a SPAC to list in the United States, hoping to raise up to US $400 million.</p><p>From the perspective of Li Zekai, Zheng Zhigang or Jia Yueting, both the corporate side and the capital side are catching up with the \"heat wave\" of SPAC. This listing model will explode in the U.S. stock market in 2020, and will be even hotter in 2021. Statistics show that the number of SPAC listings from 2018 to 2020 was 46, 59 and 248 respectively. In the first quarter of this year, it reached an astonishing 298, which means that the number of issuances and financing amount in the first quarter of this year alone have exceeded The whole year of last year, and this year's SPAC transactions are bound to set a new record.</p><p><img src=\"https://static.tigerbbs.com/95c4ecff8be0fd9ff5b441383a911064\" tg-width=\"635\" tg-height=\"188\" referrerpolicy=\"no-referrer\"></p><p>(Source: Deloitte quoted from SPACInsider, as of March 31, 2021, including additional financing amounts arising from the exercise of the over-allotment option)</p><p>With the help of the SPAC trend, some Chinese companies have completed listings through SPACs in recent years. With<a href=\"https://laohu8.com/S/300058\">Blue cursor</a>For example, in 2020, the company achieved a curve listing by injecting some of its overseas assets into a special purpose acquisition company listed on the New York Stock Exchange. This is the first SPAC attempt among A-share companies.<a href=\"https://laohu8.com/S/300058\">Blue cursor</a>The person in charge revealed at the time, \"During our communication, we found that there are not a few SPACs in the US market that are interested in Chinese companies.\"</p><p>Since the beginning of this year, there has also been news that Chinese autonomous driving companies such as Zhijia Technology, TuSimple, and Hesai Technology are seeking SPAC listing, but so far, no relevant response has been received from the aforementioned entities.</p><p>But what is certain is that this wave has been mapped to the domestic industrial chain ecosystem. Lin Guoen told a reporter from the Securities Times that the number of customers consulting Deloitte about SPAC operations has increased significantly. \"It turns out that some relatively unknown companies usually conduct SPACs. Recently, well-known investment banks are also rapidly joining the SPAC army, including<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>, Morgan Stanley and other well-known investment banks, as well as leading entity giants such as LV Group. Deloitte has done very little on SPACs before, mainly because of the greater risks. Since the beginning of this year, the company has also been actively studying the SPAC market ecology. \"</p><p>An investment banker in Beijing also told a reporter from the Securities Times that judging from the cases he has come into contact with, major family offices and internationally renowned investment banks are beginning to seize this part of the market. \" The enthusiasm of Chinese companies and institutions to participate in SPACs is increasing, and more and more investment institutions have publicly expressed their services. \"</p><p><b>2. Capital blind box</b></p><p>In 2020, SPACs suddenly emerged in the U.S. capital market. A total of 248 SPACs were listed, accounting for 52.7% of the number of U.S. stock IPOs that year. It became a milestone in the capital market and was called the \"first year of SPACs\" by the market. This has attracted other leading markets around the world to follow suit. In February of this year, news came out in the market that the Hong Kong Stock Exchange was conducting research on the listing of SPACs, and the stock price of the Hong Kong Stock Exchange recorded a rise that day.</p><p>The aforementioned investment banker analyzed, \"The core reason why SPAC is hot is mainly due to two reasons. On the one hand, the time period is short, and the listing financing can be realized in as short as 3 months, which is very attractive to issuers and investors. On the other hand, the financing success rate and valuation are relatively high, because SPAC only needs the consent of both parties to the acquisition, and the price is negotiated, and there are no other uncertain factors.\"</p><p>Since there are natural advantages in SPAC listing, why didn't it suddenly receive attention until the past two years? In the view of the aforementioned investment bankers, on the one hand, it is related to the fact that the low interest rate environment in the past two years has significantly reduced the time cost of investing in SPACs, and the more direct reason is the speed of listing and financing.</p><p>\"After all, for companies that want to go public, SPAC is by no means a perfect listing model. After all, after the acquisition is completed, the property rights and control rights of the founder of the target company will be sharply diluted, which has led to so many years after the birth of SPAC. Over the years, any company that can go public on the IPO path is reluctant to go public through the SPAC model. However, under the influence of the epidemic, the revenue and valuation of some companies that hope to seek listing have undergone major changes. Whether they want an intangible IPO or a faster realization model has become a new topic before them. \"The person analyzed.</p><p>Although the SPAC model has advantages, the related risks are accompanied by these advantages. \" First of all, companies listed through SPACs often do not meet the requirements of traditional IPOs, and some companies even only have a preliminary idea, even reaching the \"PPT stage\". In addition, the current SPAC market is hot and there is a bubble in valuation, which will undoubtedly bring hidden dangers to companies and investors. \"<a href=\"https://laohu8.com/S/601818\">China Everbright Bank</a>Zhou Maohua, a financial analyst, told reporters.</p><p>In the view of the aforementioned investment bankers, \"The essence of SPAC is that a shell company completes an IPO and raises funds through a special channel allowed by U.S. regulation, and then uses the funds to acquire a target company with actual business. The listing of the target company is realized by grafting flowers and trees. In a sense, a shell company listed on SPAC is more like a blind box in the investment circle, because investors will not know what assets they ultimately hold before the SPAC completes the merger.\"</p><p>Lin Guoen believes that although there are asset injection operations, the shell buying operations of SPAC and A-share market are completely different. \" At present, the SPAC model is still only operating in a few mature capital markets such as the United States. \"</p><p><b>3. Will the tightening window come?</b></p><p>It is worth noting that under the background of the continued popularity of SPACs, on the one hand, some exchanges plan to introduce this model to enhance market attractiveness; But on the other hand, due to the increase in associated risks and bubbles, U.S. regulators may also be opening a window of time to tighten monitoring of SPACs.</p><p>According to the latest reports from overseas media, U.S. regulators have sent letters to major Wall Street banks, requesting information about SPAC transactions and requiring banks to voluntarily provide this information, which has not yet reached the level of formal investigation.</p><p>\"From the perspective of industrial laws, financial products have been surviving and developing within the quadrant permitted by policies and determined by market needs. The higher the speculation and risk of financial products, the greater the restrictions and constraints they will be subject to policies. \"Zhou Maohua told reporters.</p><p>According to the aforementioned investment bankers, the current market attitude towards SPACs is somewhat divided. On the one hand, this model is being competed by companies and institutions. On the other hand, some market voices believe that it is more like the product of this quick success and instant benefit. It is a corporate financing solution hoarded in the \"big water release era\", and it is not ruled out that it will become a new one. The round of \"King of Bubbles\". \" Judging from its future trend, it still depends on the regulatory attitude of various places. For example, if the Hong Kong Stock Exchange believes that SPAC is feasible, it will inevitably be more favored by Chinese technology companies, which may trigger a new round of listing boom. But at present, everything is still unknown. \"</p>","source":"lsy1568961593943","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>298 cases in a single season! Why is the \"backdoor\" of US stocks so crazy?</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\">\n298 cases in a single season! Why is the \"backdoor\" of US stocks so crazy?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">e公司官微</strong><span class=\"h-time small\">2021-04-09 21:43</span>\n</p>\n</h4>\n</header>\n<article>\n<p>\"Previously, some lesser-known companies were usually keen on SPAC, but in recent months, well-known investment banks and top companies have also rapidly joined the SPAC army, which has driven this financial product to become more and more popular.\" Deloitte China Lin Guoen, managing partner of the North China Region of the National Listing Business Group, told the Securities Times reporter, \"Now more and more Deloitte customers are also consulting us about the business content of SPAC, forcing us to conduct more and more in-depth research on it.\"</p><p>Statistics show that in the first quarter of this year, the number of SPAC listings and the amount of financing in the U.S. market have exceeded that of the whole of last year. Deloitte predicts that this year's SPAC transactions will set a new record.</p><p>Against the background of the continued popularity of SPACs, Hong Kong and other places have recently reported news about studying the feasibility of SPACs. But at the same time, the United States is considered to be ushering in a time window for tightening regulations. Some investment bankers told reporters that the listing of SPACs in the future may have new variations in some regions.</p><p><b>1. SPAC heat wave</b></p><p>On April 6, Faraday Future officially submitted S4 listing documents to the US Securities and Exchange Commission. This means that Jia Yueting, who is burdened with huge debts, has taken another step closer to the door of securitization. If progress goes smoothly, according to the investment bank's forecast, Faraday Future is expected to land on Nasdaq in the second quarter, and the listing and trading process may be completed within May.</p><p>It is worth noting that Faraday Future's road to connect with the capital market is not the usual IPO channel, but a plan to merge with a certain SPAC company Property Solutions and list under the stock code \"FFIE\". Property Solutions, a special purpose acquisition company, hopes to raise more than $400 million to support the deal, which will value the company at about $3 billion after the merger.</p><p>According to industry management, as a \"special purpose acquisition company\", SPAC is a listed \"shell company\" by raising funds from mutual funds, hedge funds, etc. The company has no other substantial assets except funds. SPAC companies help them achieve their listing purposes by looking for unlisted target companies, investing in and acquiring them. If the merger and acquisition is not completed within 18 or 24 months, then the \"shell company\" will face liquidation, returning all funds in the escrow account to investors in full with interest.</p><p>Faraday Future is not the first SPAC listing in the United States. In 2019, Richard, the nearly seventy-year-old founder of Virgin Group, once rang the bronze bell for the company's listing, and his annual income was only a few hundred thousand dollars<a href=\"https://laohu8.com/S/SPCE\">Virgin Galactic</a>The listing was achieved by merging it with a SPAC company with the stock code IPOA. After ringing the bell,<a href=\"https://laohu8.com/S/SPCE\">Virgin Galactic</a>The stock price tripled in three months, and once rose from $10 to more than $60 in the following year.</p><p>In addition, the SPAC company of Li Zekai, the son of Li Ka-shing, who has established his own business, also successfully IPO on Nasdaq last year, code-named BTWN. In March,<a href=\"https://laohu8.com/S/00017\">New World Development</a>Vice Chairman and Chief Executive Officer Zheng Zhigang was also revealed to plan to set up a SPAC to list in the United States, hoping to raise up to US $400 million.</p><p>From the perspective of Li Zekai, Zheng Zhigang or Jia Yueting, both the corporate side and the capital side are catching up with the \"heat wave\" of SPAC. This listing model will explode in the U.S. stock market in 2020, and will be even hotter in 2021. Statistics show that the number of SPAC listings from 2018 to 2020 was 46, 59 and 248 respectively. In the first quarter of this year, it reached an astonishing 298, which means that the number of issuances and financing amount in the first quarter of this year alone have exceeded The whole year of last year, and this year's SPAC transactions are bound to set a new record.</p><p><img src=\"https://static.tigerbbs.com/95c4ecff8be0fd9ff5b441383a911064\" tg-width=\"635\" tg-height=\"188\" referrerpolicy=\"no-referrer\"></p><p>(Source: Deloitte quoted from SPACInsider, as of March 31, 2021, including additional financing amounts arising from the exercise of the over-allotment option)</p><p>With the help of the SPAC trend, some Chinese companies have completed listings through SPACs in recent years. With<a href=\"https://laohu8.com/S/300058\">Blue cursor</a>For example, in 2020, the company achieved a curve listing by injecting some of its overseas assets into a special purpose acquisition company listed on the New York Stock Exchange. This is the first SPAC attempt among A-share companies.<a href=\"https://laohu8.com/S/300058\">Blue cursor</a>The person in charge revealed at the time, \"During our communication, we found that there are not a few SPACs in the US market that are interested in Chinese companies.\"</p><p>Since the beginning of this year, there has also been news that Chinese autonomous driving companies such as Zhijia Technology, TuSimple, and Hesai Technology are seeking SPAC listing, but so far, no relevant response has been received from the aforementioned entities.</p><p>But what is certain is that this wave has been mapped to the domestic industrial chain ecosystem. Lin Guoen told a reporter from the Securities Times that the number of customers consulting Deloitte about SPAC operations has increased significantly. \"It turns out that some relatively unknown companies usually conduct SPACs. Recently, well-known investment banks are also rapidly joining the SPAC army, including<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>, Morgan Stanley and other well-known investment banks, as well as leading entity giants such as LV Group. Deloitte has done very little on SPACs before, mainly because of the greater risks. Since the beginning of this year, the company has also been actively studying the SPAC market ecology. \"</p><p>An investment banker in Beijing also told a reporter from the Securities Times that judging from the cases he has come into contact with, major family offices and internationally renowned investment banks are beginning to seize this part of the market. \" The enthusiasm of Chinese companies and institutions to participate in SPACs is increasing, and more and more investment institutions have publicly expressed their services. \"</p><p><b>2. Capital blind box</b></p><p>In 2020, SPACs suddenly emerged in the U.S. capital market. A total of 248 SPACs were listed, accounting for 52.7% of the number of U.S. stock IPOs that year. It became a milestone in the capital market and was called the \"first year of SPACs\" by the market. This has attracted other leading markets around the world to follow suit. In February of this year, news came out in the market that the Hong Kong Stock Exchange was conducting research on the listing of SPACs, and the stock price of the Hong Kong Stock Exchange recorded a rise that day.</p><p>The aforementioned investment banker analyzed, \"The core reason why SPAC is hot is mainly due to two reasons. On the one hand, the time period is short, and the listing financing can be realized in as short as 3 months, which is very attractive to issuers and investors. On the other hand, the financing success rate and valuation are relatively high, because SPAC only needs the consent of both parties to the acquisition, and the price is negotiated, and there are no other uncertain factors.\"</p><p>Since there are natural advantages in SPAC listing, why didn't it suddenly receive attention until the past two years? In the view of the aforementioned investment bankers, on the one hand, it is related to the fact that the low interest rate environment in the past two years has significantly reduced the time cost of investing in SPACs, and the more direct reason is the speed of listing and financing.</p><p>\"After all, for companies that want to go public, SPAC is by no means a perfect listing model. After all, after the acquisition is completed, the property rights and control rights of the founder of the target company will be sharply diluted, which has led to so many years after the birth of SPAC. Over the years, any company that can go public on the IPO path is reluctant to go public through the SPAC model. However, under the influence of the epidemic, the revenue and valuation of some companies that hope to seek listing have undergone major changes. Whether they want an intangible IPO or a faster realization model has become a new topic before them. \"The person analyzed.</p><p>Although the SPAC model has advantages, the related risks are accompanied by these advantages. \" First of all, companies listed through SPACs often do not meet the requirements of traditional IPOs, and some companies even only have a preliminary idea, even reaching the \"PPT stage\". In addition, the current SPAC market is hot and there is a bubble in valuation, which will undoubtedly bring hidden dangers to companies and investors. \"<a href=\"https://laohu8.com/S/601818\">China Everbright Bank</a>Zhou Maohua, a financial analyst, told reporters.</p><p>In the view of the aforementioned investment bankers, \"The essence of SPAC is that a shell company completes an IPO and raises funds through a special channel allowed by U.S. regulation, and then uses the funds to acquire a target company with actual business. The listing of the target company is realized by grafting flowers and trees. In a sense, a shell company listed on SPAC is more like a blind box in the investment circle, because investors will not know what assets they ultimately hold before the SPAC completes the merger.\"</p><p>Lin Guoen believes that although there are asset injection operations, the shell buying operations of SPAC and A-share market are completely different. \" At present, the SPAC model is still only operating in a few mature capital markets such as the United States. \"</p><p><b>3. Will the tightening window come?</b></p><p>It is worth noting that under the background of the continued popularity of SPACs, on the one hand, some exchanges plan to introduce this model to enhance market attractiveness; But on the other hand, due to the increase in associated risks and bubbles, U.S. regulators may also be opening a window of time to tighten monitoring of SPACs.</p><p>According to the latest reports from overseas media, U.S. regulators have sent letters to major Wall Street banks, requesting information about SPAC transactions and requiring banks to voluntarily provide this information, which has not yet reached the level of formal investigation.</p><p>\"From the perspective of industrial laws, financial products have been surviving and developing within the quadrant permitted by policies and determined by market needs. The higher the speculation and risk of financial products, the greater the restrictions and constraints they will be subject to policies. \"Zhou Maohua told reporters.</p><p>According to the aforementioned investment bankers, the current market attitude towards SPACs is somewhat divided. On the one hand, this model is being competed by companies and institutions. On the other hand, some market voices believe that it is more like the product of this quick success and instant benefit. It is a corporate financing solution hoarded in the \"big water release era\", and it is not ruled out that it will become a new one. The round of \"King of Bubbles\". \" Judging from its future trend, it still depends on the regulatory attitude of various places. For example, if the Hong Kong Stock Exchange believes that SPAC is feasible, it will inevitably be more favored by Chinese technology companies, which may trigger a new round of listing boom. But at present, everything is still unknown. \"</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/ZTabt-o7Gu6OH_eLRoa-vw\">e公司官微</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a5ec2b4fc6bf148a0d0440480c91e44c","relate_stocks":{},"source_url":"https://mp.weixin.qq.com/s/ZTabt-o7Gu6OH_eLRoa-vw","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1174854738","content_text":"“此前通常都是一些不太知名的企业热衷于SPAC，但是近几个月来，知名投行和顶级企业也在快速加入SPAC军团，带动了这一金融产品越来越热。”德勤中国全国上市业务组华北区主管合伙人林国恩对证券时报记者介绍，“现在德勤越来越多的客户也在向我们咨询关于SPAC方面的业务内容，倒逼我们对其越来越深入的进行研究。“\n统计数据显示，今年第一季度美国市场SPAC上市数量和融资额都已经超越了去年全年。德勤方面预计，今年的SPAC交易将会刷下新纪录。\nSPAC持续火热的背景下，香港等地近期也传出研究SPAC可行性的消息。但与此同时，美国却被认为正在迎来监管收严的时间窗口。有投行人士对记者分析认为，未来SPAC上市或将在部分地区出现新的变奏。\n1、SPAC热浪\n4月6日，法拉第未来正式向美国证监会递交S4上市文件。这意味着，身背巨大债务的贾跃亭，旗下资产距离证券化的大门又迈进了一步。倘若进展顺利，按照投行的预计，法拉第未来有望在二季度登陆纳斯达克，上市交易流程或将在5月份之内完成。\n值得注意的是，法拉第未来所走的对接资本市场之路并非通常的IPO通道，而是计划与某SPAC公司Property Solutions合并交易，并以股票代码“FFIE”上市。Property Solutions是一家特殊目的收购公司，它希望筹集4亿多美元用来支持交易，合并之后公司的估值约为30亿美元。\n按照业内管理，作为一种“特殊目的收购公司”，SPAC由共同基金、对冲基金等募集资金而组建上市的“空壳公司”，公司除资金外没有其他实质性资产。SPAC公司通过寻找未上市的目标公司，对其投资并购，帮助其实现上市目的。如果18个月或24个月内没有完成并购，那么这家“空壳公司”将面临清盘，将所有托管账户内的资金附带利息全额归还给投资者。\n法拉第未来并非美国SPAC上市首例。2019年，年近古稀的维珍集团创始人理查德就曾敲响公司上市的铜钟，而每年收入都只有几十万美元的维珍银河的上市，就是通过将其与一家股票代码为IPOA的SPAC公司合并实现的。敲钟后，维珍银河的股价在三个月内翻了3倍，并在之后的一年多中从10美元一度涨到60多美元。\n此外，已经自立门户的李嘉诚之子李泽楷的SPAC公司也在去年成功在纳斯达克IPO了，代号BTWN。今年3月，新世界发展副主席兼行政总裁郑志刚也被爆出计划成立SPAC在美上市，希望筹集最多4亿美元资金。\n从李泽楷、郑志刚还是贾跃亭来看，无论是企业方还是资金方，都在赶潮SPAC“热浪”。这一上市模式在美股市场在2020年呈爆炸式增长，2021年更为炙手可热。统计数据显示，SPAC上市数量2018年到2020年分别为46宗、59宗和248宗，今年首季则达到了惊人的298宗，这意味着今年仅仅一季度发行数量和融资额都已经超越了去年全年，同时今年的SPAC交易必然会刷下新纪录。\n\n （资料来源：德勤援引自SPACInsider，截至2021年3月31日，包括行使超额配售权带来的额外融资金额）\n借助SPAC风潮，近年来也有部分中国公司通过SPAC完成上市。以蓝色光标为例，2020年，公司通过将其部分海外资产注入一家在纽交所上市的特殊目的收购公司，实现了曲线上市，这是A股公司中首例SPAC尝试。蓝色光标负责人当时透露，“在我们沟通的过程中发现，美国市场SPAC对于中国公司感兴趣的不在少数”。\n而今年以来，也传出智加科技、图森未来、禾赛科技等中国自动驾驶公司在寻求SPAC上市的消息，不过截至目前，尚未得到前述主体的相关回应。\n但可以肯定的还是，这一浪潮已经映射到国内的产业链条生态圈。林国恩对证券时报记者介绍，现在向德勤咨询SPAC运作的客户明显增多。“原来通常是一些相对不知名的企业进行SPAC，近来知名投行也在快速加入SPAC大军，既包括高盛、大摩等知名投行，也包括LV集团等头部实体巨头。德勤此前在SPAC方面做得很少，主要原因是因为风险较大。而今年以来，公司也在积极研究SPAC市场生态。”\n北京某投行人士也向证券时报记者介绍，从其接触的案例来看，各大家族办公室、国际知名投行在纷纷开始抢占这部分市场。”中国公司和机构参与SPAC的热情都在增加，目前已有越来越多的投资机构公开表示提供服务。“\n2、资本盲盒\n2020年，SPAC在美国资本市场异军突起，共有248家SPAC上市，占当年美股IPO数量的52.7%，成为资本市场的里程碑，是年被市场称为“SPAC元年”。这吸引了全球其他头部市场的跟进。今年2月，市场传出消息，港交所正在对SPAC上市进行研究，当日港交所股价录得上扬。\n前述投行人士分析说，“SPAC炙手可热的核心原因，主要在于两大原因。一方面，所用时间周期短，最短3个月就可以实现上市融资，这对于发行人和投资人而言很有吸引力。另一方面，融资成功率和估值都相对较高，因为SPAC只需要收购双方同意即可，价格也是商量好的，没有其他的不确定性因素。”\n既然SPAC上市存在天然优势，为什么直到这两年才突然受重视呢？在前述投行人士看来，一方面与这两年的低利率环境让投资SPAC的时间成本大幅降低有关，同时更直接的原因还是在于上市融资的神速。\n”毕竟对于想要上市的公司而言，SPAC绝非完美无缺的上市模式，毕竟在收购完成之后，并购标的公司创始人的财产权与控制权会被急剧稀释，这导致在SPAC诞生后的这么多年来，但凡能走IPO道路上市的公司，都不愿意通过SPAC模式上市。但是疫情影响下，部分希望谋求上市的企业营收和估值都出现了较大变化，到底是要一个摸不着的IPO，还是一个更快的变现模式，便成为一个摆在面前的新课题。“该人士分析说。\nSPAC模式虽然存在优势，但是相关风险也正是与这些优势相伴而生的。”首先，通过SPAC上市的公司常常并没有达到传统IPO的要求，甚至有的公司只是有了一个初步想法，甚至还有到“PPT阶段”。此外，当前SPAC市场火爆，估值存在泡沫，这无疑也会对公司和投资者带来隐患。“光大银行金融行业分析师周茂华对记者分析说。\n在前述投行人士看来，“SPAC的本质，就是一家空壳公司通过一个美国监管允许的特殊渠道完成IPO并且募集到资金，然后再用这笔资金去收购一家有实际业务的目标公司。借道移花接木的方式实现目标公司的上市。从某种意义上说，SPAC上市的空壳公司更像一个投资圈的盲盒，因为在SPAC完成并购前，投资者都不会知道最终持有的是什么资产。“\n林国恩认为，虽然都有资产注入运作，但是SPAC与A股市场的买壳操作还是完全不同的。”目前来看，SPAC模式仍在只是在美国等少数成熟资本市场运行。“\n3、收紧窗口会否到来？\n值得注意的是，SPAC持续火爆的背景下，一方面使部分交易所计划引入该模式来提升市场吸引力；但是另一方面，由于伴生风险和泡沫的加大，美国监管方面或也在开启对SPAC收紧监控的时间之窗。\n根据海外媒体最新报道，美监管方面已经致函华尔街各大银行，要求了解SPAC交易信息，要求银行自愿提供这些信息，尚未达到正式调查的程度。\n”从产业规律来看，金融产品一直在政策允许和市场需要确定的象限内生存和发展。金融产品的投机性和风险性越高，受到政策的限制和约束往往会越大。“周茂华对记者分析说。\n前述投行人士介绍，目前市场对于SPAC的态度有些分化。一方面，这种模式遭到公司和机构的竞逐，另一方面也有市场声音认为它更像是这个急功近利的产物，是‘大放水时代’囤积出来的企业融资解决方案，不排除会成为新一轮的“泡沫之王”。”从其未来趋势来看，依然取决于各地的监管态度。比如，倘若港交所认为SPAC可行，那么必然会更受中国科技公司的宠爱，进而可能引发新一轮上市热潮。但是从目前来看，一切仍是未知数。“","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":658,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":348185967,"gmtCreate":1617894013359,"gmtModify":1704704558037,"author":{"id":"3577411653478803","authorId":"3577411653478803","name":"Tian1110","avatar":"https://static.tigerbbs.com/2d1b1b226062a3dc3e222f34aec0c4af","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577411653478803","idStr":"3577411653478803"},"themes":[],"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/348185967","repostId":"1118102690","repostType":4,"repost":{"id":"1118102690","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":1617891815,"share":"https://ttm.financial/m/news/1118102690?lang=en_US&edition=fundamental","pubTime":"2021-04-08 22:23","market":"us","language":"zh","title":"Tesla's short-term changes have pulled up, now up more than 2%","url":"https://stock-news.laohu8.com/highlight/detail?id=1118102690","media":"老虎资讯综合","summary":"4月8日，特斯拉短线异动拉升，现涨超2%。2021年第一季度，特斯拉全电动汽车在德国的注册量出现了大幅增长，与2020年同期相比飙升了83%。摩根士丹利认为，特斯拉可以从美国政府的基础设施一揽子计划中","content":"<p>April 8th,<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Short-term changes pulled up, and now it is up more than 2%. In the first quarter of 2021, Tesla's all-electric vehicle registrations in Germany saw a huge increase, surging 83% compared to the same period in 2020.</p><p>Morgan Stanley believes Tesla could benefit disproportionately from the U.S. government's infrastructure package, and investors in the auto industry could risk getting out if they don't own shares in Tesla. Morgan Stanley currently gives Tesla an \"outperform\" rating and a price target of $880.</p><p><img src=\"https://static.tigerbbs.com/f2422e6625bc43463053664abe709984\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></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>Tesla's short-term changes have pulled up, now up more than 2%</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla's short-term changes have pulled up, now up more than 2%\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\">2021-04-08 22:23</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>April 8th,<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Short-term changes pulled up, and now it is up more than 2%. In the first quarter of 2021, Tesla's all-electric vehicle registrations in Germany saw a huge increase, surging 83% compared to the same period in 2020.</p><p>Morgan Stanley believes Tesla could benefit disproportionately from the U.S. government's infrastructure package, and investors in the auto industry could risk getting out if they don't own shares in Tesla. Morgan Stanley currently gives Tesla an \"outperform\" rating and a price target of $880.</p><p><img src=\"https://static.tigerbbs.com/f2422e6625bc43463053664abe709984\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/8350896f4f33c86bc28f200b67ab82b4","relate_stocks":{"TSLA":"特斯拉"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118102690","content_text":"4月8日，特斯拉短线异动拉升，现涨超2%。2021年第一季度，特斯拉全电动汽车在德国的注册量出现了大幅增长，与2020年同期相比飙升了83%。摩根士丹利认为，特斯拉可以从美国政府的基础设施一揽子计划中获得不成比例的好处，而汽车行业的投资者如果不持有特斯拉的股票，可能会面临出局的风险。摩根士丹利目前给予特斯拉“跑赢大盘”的评级，目标价为880美元。","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":658,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}