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2021-06-26

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2021-06-26

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The highest in the last thirty years! The Fed's most concerned price index exploded again

2021-06-26

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2021-06-26

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Dark Horse Atour "Pentium Listing": How to tell the story of the new accommodation economy?

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The Fed's most concerned price index exploded again","url":"https://stock-news.laohu8.com/highlight/detail?id=1107914422","media":"华尔街见闻","summary":"美国核心通胀指标5月再度爆表。\n据美国商务部统计，美国5月PCE物价指数同比升3.9%，预期升3.9%，较前值3.6%小幅提高，远高于美联储的官方通胀目标2%。\n\n此外，美国5月核心PCE物价指数同比","content":"<p>The core inflation indicator of the United States exploded again in May.</p><p>According to the statistics of the U.S. Department of Commerce, the PCE price index in the United States rose by 3.9% year-on-year in May, and it is expected to rise by 3.9%, slightly higher than the previous value of 3.6%, and far higher than the official inflation target of 2% of the Federal Reserve.</p><p><img src=\"https://static.tigerbbs.com/35bd2b9f00875bc868300399b8ebf93d\" tg-width=\"640\" tg-height=\"331\" referrerpolicy=\"no-referrer\"></p><p>Additionally, the U.S. core PCE price index rose 3.4% year-on-year in May, the highest since 1991, after previously expecting a 3.4% year-on-year increase, compared with the previous value in April of 3.1% year-on-year growth.</p><p><img src=\"https://static.tigerbbs.com/5561e65f473b2f0d55bee86858c46072\" tg-width=\"500\" tg-height=\"273\" referrerpolicy=\"no-referrer\"></p><p>In terms of other data, the income of U.S. residents fell by 2% month-on-month, slightly better than the expected drop of 2.5% and far better than the drop of 13.1% in April; Consumer spending remained unchanged from the previous month, lower than the expected growth of 0.4% and the growth of 0.9% in April.</p><p><img src=\"https://static.tigerbbs.com/51b094c005211101c82ae95559d7ab9a\" tg-width=\"500\" tg-height=\"275\" referrerpolicy=\"no-referrer\"></p><p>Of course, year-over-year income growth for U.S. residents accelerated modestly due to the low base effect, while spending growth slowed significantly (but by higher values).</p><p><img src=\"https://static.tigerbbs.com/7467f4029bdeebced6df11bea878316c\" tg-width=\"500\" tg-height=\"265\" referrerpolicy=\"no-referrer\"></p><p><a href=\"https://laohu8.com/S/C\">Citigroup</a>said the adjustment to spending primarily reflects higher prices for parts such as airfares, rental cars and used cars, and while these unusually strong price increases will ultimately prove temporary, they may continue for another month or two.</p><p>It is worth noting that with the gradual withdrawal of stimulus measures, personal disposable income decreased significantly.</p><p><img src=\"https://static.tigerbbs.com/13f06f68d06ccc7f38b60878fa572c86\" tg-width=\"500\" tg-height=\"378\" referrerpolicy=\"no-referrer\"></p><p>On breakdown revenues, government wages rose 3.5% year-on-year, up from 1.3% in April, while private worker wages rose 15.7% year-on-year, down from a record 19.3% in April.</p><p><img src=\"https://static.tigerbbs.com/fb642ae4d8b547460a54614b9785bc5f\" tg-width=\"500\" tg-height=\"353\" referrerpolicy=\"no-referrer\"></p><p>It is worth mentioning that changes in spending and income have pushed down the savings rate.</p><p><img src=\"https://static.tigerbbs.com/d835f78557054dbbffcd941df0975338\" tg-width=\"500\" tg-height=\"299\" referrerpolicy=\"no-referrer\"></p><p><b>Consumer spending is on track</b></p><p>Analysts pointed to the report showing that spending growth due to the pandemic relief stimulus earlier this year has slowed and consumption has entered a more sustainable rhythm and pace – with wage and salary spending set to go mainstream. With mass vaccinations and the reopening of the economy giving consumers confidence to travel and resume many pre-pandemic activities, coupled with higher savings levels coupled with fewer pandemic restrictions, spending on services should reach pre-pandemic levels in the coming months.</p><p>With retail sales hovering at all-time highs, consumer spending has begun to shift to services — the largest component of the U.S. economy, while durable goods spending has dropped the most since February.</p><p>At the same time, rising demand, supply bottlenecks and capacity constraints are pushing up prices, and rising inflation has weakened people's purchasing power, analysts said.</p><p>Additionally, Affinity Solutions CEO Jonathan Silver said high-income Americans are driving most of the spending growth, and they have more money to pay for services that weren't available to everyone during most of the pandemic.</p><p>Households earning more than $200,000 spent 16% more at restaurants in May than in April, the data shows. According to an analysis of credit and debit card transactions by Affinity Solutions, people making between $31,000 and $60,000 saw only a 5% increase in spending.</p><p>With regard to the PCE inflation rate, senior Fed officials have been downplaying the increase. Fed leaders have insisted that the price index will fall back next year as the economy returns to normal, most people return to work, and widespread labor and supply shortages fade away.</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>The highest in the last thirty years! The Fed's most concerned price index exploded again</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 highest in the last thirty years! The Fed's most concerned price index exploded again\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time smaller\">2021-06-26 10:56</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The core inflation indicator of the United States exploded again in May.</p><p>According to the statistics of the U.S. Department of Commerce, the PCE price index in the United States rose by 3.9% year-on-year in May, and it is expected to rise by 3.9%, slightly higher than the previous value of 3.6%, and far higher than the official inflation target of 2% of the Federal Reserve.</p><p><img src=\"https://static.tigerbbs.com/35bd2b9f00875bc868300399b8ebf93d\" tg-width=\"640\" tg-height=\"331\" referrerpolicy=\"no-referrer\"></p><p>Additionally, the U.S. core PCE price index rose 3.4% year-on-year in May, the highest since 1991, after previously expecting a 3.4% year-on-year increase, compared with the previous value in April of 3.1% year-on-year growth.</p><p><img src=\"https://static.tigerbbs.com/5561e65f473b2f0d55bee86858c46072\" tg-width=\"500\" tg-height=\"273\" referrerpolicy=\"no-referrer\"></p><p>In terms of other data, the income of U.S. residents fell by 2% month-on-month, slightly better than the expected drop of 2.5% and far better than the drop of 13.1% in April; Consumer spending remained unchanged from the previous month, lower than the expected growth of 0.4% and the growth of 0.9% in April.</p><p><img src=\"https://static.tigerbbs.com/51b094c005211101c82ae95559d7ab9a\" tg-width=\"500\" tg-height=\"275\" referrerpolicy=\"no-referrer\"></p><p>Of course, year-over-year income growth for U.S. residents accelerated modestly due to the low base effect, while spending growth slowed significantly (but by higher values).</p><p><img src=\"https://static.tigerbbs.com/7467f4029bdeebced6df11bea878316c\" tg-width=\"500\" tg-height=\"265\" referrerpolicy=\"no-referrer\"></p><p><a href=\"https://laohu8.com/S/C\">Citigroup</a>said the adjustment to spending primarily reflects higher prices for parts such as airfares, rental cars and used cars, and while these unusually strong price increases will ultimately prove temporary, they may continue for another month or two.</p><p>It is worth noting that with the gradual withdrawal of stimulus measures, personal disposable income decreased significantly.</p><p><img src=\"https://static.tigerbbs.com/13f06f68d06ccc7f38b60878fa572c86\" tg-width=\"500\" tg-height=\"378\" referrerpolicy=\"no-referrer\"></p><p>On breakdown revenues, government wages rose 3.5% year-on-year, up from 1.3% in April, while private worker wages rose 15.7% year-on-year, down from a record 19.3% in April.</p><p><img src=\"https://static.tigerbbs.com/fb642ae4d8b547460a54614b9785bc5f\" tg-width=\"500\" tg-height=\"353\" referrerpolicy=\"no-referrer\"></p><p>It is worth mentioning that changes in spending and income have pushed down the savings rate.</p><p><img src=\"https://static.tigerbbs.com/d835f78557054dbbffcd941df0975338\" tg-width=\"500\" tg-height=\"299\" referrerpolicy=\"no-referrer\"></p><p><b>Consumer spending is on track</b></p><p>Analysts pointed to the report showing that spending growth due to the pandemic relief stimulus earlier this year has slowed and consumption has entered a more sustainable rhythm and pace – with wage and salary spending set to go mainstream. With mass vaccinations and the reopening of the economy giving consumers confidence to travel and resume many pre-pandemic activities, coupled with higher savings levels coupled with fewer pandemic restrictions, spending on services should reach pre-pandemic levels in the coming months.</p><p>With retail sales hovering at all-time highs, consumer spending has begun to shift to services — the largest component of the U.S. economy, while durable goods spending has dropped the most since February.</p><p>At the same time, rising demand, supply bottlenecks and capacity constraints are pushing up prices, and rising inflation has weakened people's purchasing power, analysts said.</p><p>Additionally, Affinity Solutions CEO Jonathan Silver said high-income Americans are driving most of the spending growth, and they have more money to pay for services that weren't available to everyone during most of the pandemic.</p><p>Households earning more than $200,000 spent 16% more at restaurants in May than in April, the data shows. According to an analysis of credit and debit card transactions by Affinity Solutions, people making between $31,000 and $60,000 saw only a 5% increase in spending.</p><p>With regard to the PCE inflation rate, senior Fed officials have been downplaying the increase. Fed leaders have insisted that the price index will fall back next year as the economy returns to normal, most people return to work, and widespread labor and supply shortages fade away.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/f09c44f289c2f0d40610768fe6661fab","relate_stocks":{"161125":"标普500","513500":"标普500ETF博时","PSQ":"做空纳斯达克100指数ETF-ProShares","SPY":"标普500ETF",".DJI":"道琼斯","OEF":"标普100指数ETF-iShares","QQQ":"纳指100ETF","TQQQ":"纳指三倍做多ETF","IVV":"标普500ETF-iShares",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SDOW":"三倍做空道指30ETF-ProShares","SDS":"两倍做空标普500 ETF-ProShares","DOG":"道指ETF-ProShares做空","DJX":"1/100道琼斯","OEX":"标普100","SPXU":"三倍做空标普500ETF-ProShares","QID":"两倍做空纳斯达克指数ETF-ProShares","UDOW":"三倍做多道指30ETF-ProShares"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1107914422","content_text":"美国核心通胀指标5月再度爆表。\n据美国商务部统计，美国5月PCE物价指数同比升3.9%，预期升3.9%，较前值3.6%小幅提高，远高于美联储的官方通胀目标2%。\n\n此外，美国5月核心PCE物价指数同比增长3.4%，创1991年以来最高，此前预期同比增长3.4%，而4月的前值为同比增长3.1%。\n\n其他数据方面，美国居民收入环比下降2%，略好于预期的下降2.5%，远好于4月的下降13.1%；而消费支出环比不变，低于预期的增长0.4%及4月的增长0.9%。\n\n当然，由于低基数效应，美国居民收入同比增长温和加速，而支出增长显著放缓（但数值较高）。\n\n花旗表示，支出的调整主要反映了机票、租车和二手车等零部件价格的上涨，虽然这些异常强劲的价格上涨最终会证明是暂时的，但可能还会持续一两个月。\n值得注意的是，随着刺激措施的逐渐退出，个人可支配收入明显减少。\n\n在细分收入方面，政府工资同比增长3.5%，高于4月份的1.3%，而私人工人工资同比增长15.7%，低于4月份创纪录的19.3%。\n\n值得一提的是，支出与收入的变化已将储蓄率压低。\n\n消费支出正在走上正轨\n分析人士指出，该报告显示，今年早些时候的疫情纾困刺激措施导致的开支增长已经放缓，消费进入更可持续的节奏和步伐——工资和薪金支出将成为主流。由于大规模疫苗接种和经济的重新开放使消费者有信心旅行并恢复许多疫情之前的活动，再加上更高的储蓄水平加上更少的防疫限制，服务支出应该会在未来几个月达到疫情前的水平。\n随着零售销售额徘徊在历史高位，消费者的消费已经开始转向服务业——这是美国经济的最大组成部分，而耐用品支出创下了2月以来的最大跌幅。\n分析人士还指出，与此同时，需求增加、供应瓶颈和产能限制正在推高价格，通货膨胀的上升削弱了人们的的购买力。\n此外，Affinity Solutions CEO Jonathan Silver表示，高收入的美国人正在推动大部分的支出增长，他们有更多的钱来支付在疫情的大部分时间里无法为所有人提供的服务。\n数据显示，收入超过20万美元的家庭5月份在餐馆的支出比4月份增长了16%。根据Affinity Solutions对信用卡和借记卡交易的分析，收入在31000美元至60000美元之间的人的支出仅增加了5%。\n对于PCE通胀率，美联储高级官员一直在淡化这一增长。美联储领导人坚称，随着经济恢复正常、大多数人重返工作岗位以及普遍存在的劳动力和供应短缺现象逐渐消失，明年该价格指数将回落。","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"OEX":0.9,"PSQ":0.9,"DJX":0.9,"QQQ":0.9,"OEF":0.9,"SDS":0.9,"UDOW":0.9,".SPX":0.9,"TQQQ":0.9,"SPXU":0.9,"IVV":0.9,"SPY":0.9,"QID":0.9,"DOG":0.9,".DJI":0.9,".IXIC":0.9,"ESmain":0.9,"SDOW":0.9}},"isVote":1,"tweetType":1,"viewCount":2019,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125531922,"gmtCreate":1624679378866,"gmtModify":1703843484715,"author":{"id":"3581667278730959","authorId":"3581667278730959","name":"NGYEOWCHONG","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581667278730959","idStr":"3581667278730959"},"themes":[],"htmlText":"1","listText":"1","text":"1","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/125531922","repostId":"1189591387","repostType":4,"isVote":1,"tweetType":1,"viewCount":2207,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125533224,"gmtCreate":1624679361068,"gmtModify":1703843483738,"author":{"id":"3581667278730959","authorId":"3581667278730959","name":"NGYEOWCHONG","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581667278730959","idStr":"3581667278730959"},"themes":[],"htmlText":"1","listText":"1","text":"1","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/125533224","repostId":"1173114193","repostType":4,"repost":{"id":"1173114193","kind":"news","pubTimestamp":1624679118,"share":"https://ttm.financial/m/news/1173114193?lang=en_US&edition=fundamental","pubTime":"2021-06-26 11:45","market":"us","language":"zh","title":"Dark Horse Atour \"Pentium Listing\": How to tell the story of the new accommodation economy?","url":"https://stock-news.laohu8.com/highlight/detail?id=1173114193","media":"36氪","summary":"“一个时代需要一个时代的品牌和企业”\n\n“进门的一杯热茶，一双舒适的棉质拖鞋，一碗深夜的热粥，一份可口的水果”——某世界500强企业的条线业务负责人将这称为“亚朵四件套”。\n亚朵集团（下称“亚朵”）成","content":"<p>\"An era needs a brand and enterprise of an era\"\"A cup of hot tea, a pair of comfortable cotton slippers, a bowl of late-night hot porridge and a delicious fruit\"-the head of the line business of a Fortune 500 company calls this \"Atour four-piece set\".</p><p>Atour Group (hereinafter referred to as \"Atour\") was established in 2013. Compared with many hotels that use noble words such as \"Hao\", \"Jin\", \"Wan\" and \"Hua\" as brand names, this name originating from Atour Village in Yunnan is like a breath of fresh stream, flowing with nature, life and humanistic feelings.</p><p>Outsiders know Atour, perhaps because of its out-of-the-circle IP cross-border marketing actions, such as<a href=\"https://laohu8.com/S/NTES\">Netease</a>Theme hotels cooperated by Cloud Music, etc.</p><p>For people in the industry, Atour is more like a dark horse in the hotel industry.<a href=\"https://laohu8.com/S/HTHT\">Huazhu</a>In the era when express hotels were deeply rooted in the hearts of the people, they established the consumers' minds belonging to Atour, took the lead in putting forward the concept of \"lifestyle brand\", and provided an innovative idea of \"starting with hotels, not ending with hotels\" for the whole hotel industry.</p><p><b>According to Frost & Sullivan, as of the end of 2020, Atour was the largest mid-to-high-end hotel chain in China in terms of number of rooms.</b></p><p>More importantly,<b>Atour is about to knock on the door of the capital market and list on Nasdaq under the ticker symbol \"ATAT\". If successfully listed, Atour will become \"the first stock in China's new accommodation economy\".</b></p><p>According to the updated prospectus, Atour intends to issue 19,744,700 ADS shares with a pricing range of US$13.5 to US$15.5 per ADS, and at the same time grant the underwriters the over-allotment option of 2,961,700 ADS shares, with a plan to raise US$307 million to US$352 million.</p><p>Hillhouse said it would subscribe at its initial public offering price and intends to subscribe for ADS worth $120 million. Well-known investment institutions as cornerstone investors show the capital market's recognition of Atour Group's fundamentals and long-term value.</p><p>For Atour, the market is curious about what kind of innovative business model it has created, and it is also concerned about its performance level. At the same time, Atour's core advantages compared with its peers and its future performance in the secondary market are the focus of the market.</p><p>Then, this article tries to answer the above questions for you. (Only explain opinions and do not constitute investment advice.)</p><p><b>\"Experiential School\" Ideas Make Hotels More Than Sleeping</b></p><p><b>\"An era needs brands and enterprises of an era\"</b>Wang Haijun, founder and CEO of Atour, once expressed such emotion.</p><p>Under the leadership of Wang Haijun, a group of \"veterans\" engaged in the hotel industry gathered to try to create a new era of hotel brands and enterprises. Now, it seems, Atour may have become their first ideal achievement.</p><p>Under the background of this era of continuous upgrading of industry and consumption, Wang Haijun doesn't want to be a low-end hotel that can only meet the accommodation needs of tenants. Therefore, differentiated positioning of the mid-to-high-end market, meeting the accommodation demand while paying attention to the sense of experience has become the development direction of Atour so far.</p><p><b>As the top mid-to-high-end hotel chain in China, Atour already owns mid-end, mid-to-high-end, high-end and<a href=\"https://laohu8.com/S/DLX\">luxury</a>6 brands across four segments</b>Specifically, it includes the mid-end brand \"Qingju\", the mid-to-high-end brands \"Atour Hotel\" and \"Atour X Hotel\", the high-end brands \"Atour S Hotel\" and \"ZHOTEL\", and the luxury brand \"A.T. HOUSE\".</p><p>In terms of volume and scale, as of the first quarter of 2021, the number of Atour hotels in operation reached 608, with over 70,000 rooms, covering 131 cities, while the number of hotels under development was 299, with over 30,000 rooms under development.</p><p>Differentiated market positioning comes from Atou's \"experience school\" thinking. The core of this idea lies in the transformation from \"operating rooms\" to \"operating crowds\". Not only that, Atour also summed up a set of \"standard personalized\" service methods to ensure that the service can keep up with the changes of consumer demand. According to the consumer survey of Huiping.com, Atou's overall satisfaction score has always maintained the first position among six major mid-to-high-end hotel brands since 2017.</p><p><b>In addition, in Atou's view, hotels are a natural scene for lifestyle experience and sales of daily necessities.</b>For example, when customers feel that the hotel mattress is very comfortable, they can buy the same mattress directly online. As a result, Atour has further upgraded from a hotel chain group to a leading lifestyle brand group.</p><p>By the end of March this year, Atour had developed a total of 1,136 scene retail SKUs. In 2019 and 2020, the GMV generated by the retail business was 82.8 million yuan and 107.2 million yuan, respectively, representing a year-on-year increase of 29.5%. The GMV of retail business in the first quarter of this year reached 32.6 million yuan.</p><p>The scene retail business extended by the concept of \"experience school\" has already begun to generate income for Atour.</p><p><b>In 2020, Atour scenario retail business revenue accounted for 4.5% of its total revenue, which was higher than the retail business revenue generated by other domestic hotel chains.</b></p><p>Thanks to the positioning of the mid-to-high-end market and the development of scene retail business popular among young people, Atou's audience has gradually focused on high-net-worth users with a certain consumption level.</p><p>First of all, from a geographical perspective, nearly 80% of Atour hotels are located in the core areas of first-tier, new first-tier and second-tier cities. To a certain extent, this means that the consumption level of Atour hotels is not low.</p><p>At the same time, according to the prospectus, the proportion of Atour users under the age of 30 exceeds 24%, and the transaction volume contributed by these users accounts for 35%; The proportion of Atour users between the ages of 30 and 40 is as high as 45.8%.</p><p>As of the first quarter of 2021, Atour has surpassed 25 million members. From 2015 to 2020, the number of Atour members grew at a CAGR of 79.6%. In the past two years, the number of room-night bookings contributed by members accounted for 39.3% and 44.7% respectively, accounting for a relatively large proportion and still growing.</p><p><b>Demonstrating Resilience Amid the Pandemic</b></p><p>Humanistic feelings and space with content can capture the hearts of consumers, but if it goes to the capital market to face investors directly, Atour needs outstanding performance.</p><p>For the hotel industry, if you want to expand, you need money, and if you want to make money, you need someone to live. Therefore, in addition to core performance indicators such as revenue and net profit, occupancy rate and ADR are often regarded as important indicators to measure hotel operation.</p><p>In early 2020, the sudden outbreak caught hotels large and small off guard. Atour has shown stronger resilience under the pandemic.</p><p>At the beginning of the year, Atour achieved a revenue of 1.567 billion yuan in 2020, which was basically the same as the revenue scale in 2019. While<a href=\"https://laohu8.com/S/600754\">Jinjiang Hotel</a>And the annual revenue of Huazhu Group fell by 34% and 9% year-on-year respectively.</p><p><b>The strong recovery and growth momentum continued until the first quarter of this year. Atou's revenue increased by 107.7% year-on-year, and at the same time, it achieved a net profit of 11.47 million yuan, turning losses into profits year-on-year.</b></p><p>In terms of cash flow, as of the end of 2020, Atour had cash flow from operating activities of 119 million yuan, cash flow from investing activities of-106 million yuan and cash flow from financing activities of 48.01 million yuan. At present, Atour is in a situation where the cash flow of operating activities is positive, the cash flow of investment activities is negative, and the cash flow of financing activities is positive, which means to a certain extent that it is still in a period of high-speed expansion and is a high-growth company. High growth means that Atour has infinite possibilities in the future.</p><p><img src=\"https://static.tigerbbs.com/e85086f30b4e5ae30d2f6da3c5f4406f\" tg-width=\"554\" tg-height=\"108\" referrerpolicy=\"no-referrer\"></p><p>From the perspective of occupancy rate and house price, after the epidemic, the recovery rate of Atou's business operation far exceeded the industry average.</p><p>First, in terms of occupancy, Atour had an occupancy rate of 73.4% in 2019. In 2020, under the impact of the pandemic, the occupancy rate of its hotels excluding quarantine expropriation was 67.1%. In April this year, the occupancy rate of Atour Hotel has recovered and exceeded the pre-epidemic level, reaching 80.4%. According to some data, the average annual occupancy rate of all star-rated hotels in China has not reached 63% in the 10 years ended in the first quarter of 2021. This means that in recent years, the occupancy rate of Atour has far exceeded the industry average, even in 2020, when the epidemic broke out.</p><p>According to the introduction of Fei Yu, president of BU of Atour Group Hotel in September last year, in February and March last year, Atour adopted a price strategy in order to quickly increase the overall occupancy rate, so the house price bottomed out. However, in April and May of the same year, its house prices rebounded strongly. In September last year, the overall house prices have recovered to 94% of the level of the same period last year. As of April this year, the overall house price of Atour has exceeded the pre-epidemic level, reaching 432.9 yuan, compared with 429.5 yuan in 2019.</p><p><img src=\"https://static.tigerbbs.com/83befb8d9bc0f22fd568dd0e7376b273\" tg-width=\"554\" tg-height=\"300\" referrerpolicy=\"no-referrer\"></p><p>In addition, dismantling Atou's revenue structure, Atou's revenue mainly comes from three parts: managed hotels (i.e. franchised stores), rented hotels (i.e. directly operated stores), retail & others. Regardless of the number of stores or the proportion of revenue contributed, the franchise stores with the main asset-light operation mode exceed those of direct stores, which is also an important reason for Ato's strong ability to resist risks.</p><p><img src=\"https://static.tigerbbs.com/44b32b674d8488124ac006b5fb4d76d7\" tg-width=\"554\" tg-height=\"107\" referrerpolicy=\"no-referrer\"></p><p>At present, Atour operates 575 franchise stores and only 33 direct stores. From 2015 to 2020, the number of Atour franchised hotels grew at an average CAGR of 86.2%.</p><p>In 2020, the revenue share of Atour franchise stores increased from 53.6% in 2019 to 59.1%. During the same period, the proportion of revenue from directly operated stores decreased from 39.2% in 2019 to 31.7%.</p><p><img src=\"https://static.tigerbbs.com/f94936c3e67661ef5a373c6a74d29939\" tg-width=\"554\" tg-height=\"143\" referrerpolicy=\"no-referrer\"></p><p>So to speak,<b>Franchise stores are the \"foundation\" of Atour, and the role of franchisees is an important partner of Atour Hotels.</b>All along, Atour has been praised by the industry for its management service schemes exported to franchisees and the benefits brought to franchisees.</p><p>According to the prospectus, the investment recovery cycle of Atour franchisees is mostly 3 to 5 years after the opening of the hotel, which is one of the mid-to-high-end hotel chains with the fastest investment recovery cycle in China.</p><p>Therefore, franchisees trust Atour and also show high stickiness. In 2020, 31.8% of Atour franchisees chose to join again.</p><p>Zhou Xiaojun, assistant president of China Jianyuan, a real estate fund management, project management and asset management service provider, once said, \"When we investigated the market reputation and operation of high-end hotel brands, Atour partners left a deep impression on us. They will not only communicate the operation status of the hotel in detail, but also talk about many management systems behind Atour, such as the key points and difficulties of later operation, the characteristics of customers, why customers prefer our Atour brand and so on\".</p><p>In 2019, China Jianyuan joined the sales office at Huihai South Road, the core economic area of Beijing Capital Airport, as Atour Hotel, which has now been transformed into the best hotel in the region.</p><p><b>Atour Core Strengths</b></p><p><b>High-end positioning chain groups and lifestyle brands are the core advantages of Atour.</b></p><p><b>Differentiated positioning in the middle and high-end market, Atour has chosen the right direction from the beginning.</b></p><p>In the future, Atour will further benefit from the increase in the penetration rate of mid-to high-end hotels. According to the Frost & Sullivan Report, the CAGR of the number of guest rooms in mid-to high-end hotels was 25.7% from 2015 to 2019, compared with 15.2% in the overall hotel chain industry during the same period. It is estimated that the compound average growth rate of the number of guest rooms in mid-to high-end hotel chains will be 18.9% from 2021 to 2025, which will still be higher than the overall growth rate of 8.8% in the industry. The penetration rate of mid-to high-end hotel rooms will also increase from 10.5% in 2020 to 16.1%.</p><p>At the same time, the low concentration of the mid-to-high-end hotel industry also allows Atour to sit firmly as the \"first brother\". At present, the top five domestic<a href=\"https://laohu8.com/S/00045\">Grand Hotel</a>The total number of mid-to high-end rooms of the Group amounted to 197,000, accounting for 31.8%, and the concentration of mid-to high-end hotel industry was relatively low. Among them, Atour has 58,000 mid-to high-end guest rooms, accounting for 9.4%, ranking first in the industry in market share.</p><p><b>The core of lifestyle branding lies in brand tonality and consumer loyalty.</b></p><p>On Xiaohongshu, a \"good life sharing community\", the number of notes about Atour is as high as 10,000+. Enter \"Atour\" in the search box, and the related words that pop up include Atour breakfast, Atour pillow, Atour mattress, Atour shampoo, etc., which is full of life outside accommodation. Follow the related words and click in, and it gets rave reviews. Among them, during the epidemic isolation period, Atour Isolation Hotel has become a \"surprise\" in the mouth of many netizens.</p><p>In fact, many hotels are expanding their scene retail business. In contrast, Atour has certain first-mover advantages and technical precipitation.</p><p>According to the official introduction, in the mid-to-high-end market, Atour is the first hotel group in China to officially expand its scene retail business. At present, it has formed a certain scale in terms of brand integration and cooperative suppliers, and has established a strong consumer mind and reputation.</p><p>As of the first quarter of 2021, Atour has incubated original lifestyle brands in three major categories: sleep, fragrance and personal care, and travel, namely Atour Planet, Sahe, and Z2GO & CO.</p><p>At the same time, Atour also introduced DTC mode for the production and sales of original lifestyle brands. DTC is Direct to Consumer, that is, taking consumers' needs as the focus to guide manufacturers' design, production, product selection and marketing in reverse.</p><p><b>In addition, compared with traditional consumer brands, the natural lifestyle scene of hotels adds advantages to Atour.</b>For example, the average daily stay of each tenant in the hotel is about 6-8 hours, and there are many contact scenarios that can realize consumption.</p><p><b>How will Atour perform in the secondary market?</b></p><p>Looking ahead, will Atour gain the favor of capital in the secondary market?</p><p><b>Before the listing, Atour received three rounds of financing, and the lineup of investors was not inferior, including Legend Capital, Dehui Capital,<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>Former CEO Lu Zhaoxi, Ctrip, etc.</b></p><p>According to the latest updated prospectus, after the IPO, Wang Haijun holds 27.1% of the shares and is the largest shareholder, holding 71.1% of the voting rights of the company. In addition, Legend Capital holds 26.2%, Dehui Capital holds 14% and Ctrip holds 12.8%.</p><p><b>An important reason for choosing to list on the US stock market at this time may be that there are many favorable factors for Atour at present.</b></p><p>First of all, after the epidemic, the hotel industry has accelerated its clearance, and hotel chains are more favored by investors due to their strong pressure resistance. At the same time, with the popularization of COVID-19 vaccine, the market is optimistic about the recovery of the wine and travel industry.</p><p>In terms of businesses valued by investors in the secondary market, it is expected that Atour will still benefit from the growth space of hotel chain and scene retail business in the future.</p><p>According to the Frost & Sullivan Report, the revenue of China's hotel chain industry increased from RMB245.4 billion in 2015 to RMB450 billion in 2019, representing a CAGR of 16.4%. China's chaining rate is only 31.5%, which still has plenty of room for growth compared to the 72.9% in the United States.</p>","source":"36k","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>Dark Horse Atour \"Pentium Listing\": How to tell the story of the new accommodation economy?</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\">\nDark Horse Atour \"Pentium Listing\": How to tell the story of the new accommodation economy?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">36氪</strong><span class=\"h-time small\">2021-06-26 11:45</span>\n</p>\n</h4>\n</header>\n<article>\n<p>\"An era needs a brand and enterprise of an era\"\"A cup of hot tea, a pair of comfortable cotton slippers, a bowl of late-night hot porridge and a delicious fruit\"-the head of the line business of a Fortune 500 company calls this \"Atour four-piece set\".</p><p>Atour Group (hereinafter referred to as \"Atour\") was established in 2013. Compared with many hotels that use noble words such as \"Hao\", \"Jin\", \"Wan\" and \"Hua\" as brand names, this name originating from Atour Village in Yunnan is like a breath of fresh stream, flowing with nature, life and humanistic feelings.</p><p>Outsiders know Atour, perhaps because of its out-of-the-circle IP cross-border marketing actions, such as<a href=\"https://laohu8.com/S/NTES\">Netease</a>Theme hotels cooperated by Cloud Music, etc.</p><p>For people in the industry, Atour is more like a dark horse in the hotel industry.<a href=\"https://laohu8.com/S/HTHT\">Huazhu</a>In the era when express hotels were deeply rooted in the hearts of the people, they established the consumers' minds belonging to Atour, took the lead in putting forward the concept of \"lifestyle brand\", and provided an innovative idea of \"starting with hotels, not ending with hotels\" for the whole hotel industry.</p><p><b>According to Frost & Sullivan, as of the end of 2020, Atour was the largest mid-to-high-end hotel chain in China in terms of number of rooms.</b></p><p>More importantly,<b>Atour is about to knock on the door of the capital market and list on Nasdaq under the ticker symbol \"ATAT\". If successfully listed, Atour will become \"the first stock in China's new accommodation economy\".</b></p><p>According to the updated prospectus, Atour intends to issue 19,744,700 ADS shares with a pricing range of US$13.5 to US$15.5 per ADS, and at the same time grant the underwriters the over-allotment option of 2,961,700 ADS shares, with a plan to raise US$307 million to US$352 million.</p><p>Hillhouse said it would subscribe at its initial public offering price and intends to subscribe for ADS worth $120 million. Well-known investment institutions as cornerstone investors show the capital market's recognition of Atour Group's fundamentals and long-term value.</p><p>For Atour, the market is curious about what kind of innovative business model it has created, and it is also concerned about its performance level. At the same time, Atour's core advantages compared with its peers and its future performance in the secondary market are the focus of the market.</p><p>Then, this article tries to answer the above questions for you. (Only explain opinions and do not constitute investment advice.)</p><p><b>\"Experiential School\" Ideas Make Hotels More Than Sleeping</b></p><p><b>\"An era needs brands and enterprises of an era\"</b>Wang Haijun, founder and CEO of Atour, once expressed such emotion.</p><p>Under the leadership of Wang Haijun, a group of \"veterans\" engaged in the hotel industry gathered to try to create a new era of hotel brands and enterprises. Now, it seems, Atour may have become their first ideal achievement.</p><p>Under the background of this era of continuous upgrading of industry and consumption, Wang Haijun doesn't want to be a low-end hotel that can only meet the accommodation needs of tenants. Therefore, differentiated positioning of the mid-to-high-end market, meeting the accommodation demand while paying attention to the sense of experience has become the development direction of Atour so far.</p><p><b>As the top mid-to-high-end hotel chain in China, Atour already owns mid-end, mid-to-high-end, high-end and<a href=\"https://laohu8.com/S/DLX\">luxury</a>6 brands across four segments</b>Specifically, it includes the mid-end brand \"Qingju\", the mid-to-high-end brands \"Atour Hotel\" and \"Atour X Hotel\", the high-end brands \"Atour S Hotel\" and \"ZHOTEL\", and the luxury brand \"A.T. HOUSE\".</p><p>In terms of volume and scale, as of the first quarter of 2021, the number of Atour hotels in operation reached 608, with over 70,000 rooms, covering 131 cities, while the number of hotels under development was 299, with over 30,000 rooms under development.</p><p>Differentiated market positioning comes from Atou's \"experience school\" thinking. The core of this idea lies in the transformation from \"operating rooms\" to \"operating crowds\". Not only that, Atour also summed up a set of \"standard personalized\" service methods to ensure that the service can keep up with the changes of consumer demand. According to the consumer survey of Huiping.com, Atou's overall satisfaction score has always maintained the first position among six major mid-to-high-end hotel brands since 2017.</p><p><b>In addition, in Atou's view, hotels are a natural scene for lifestyle experience and sales of daily necessities.</b>For example, when customers feel that the hotel mattress is very comfortable, they can buy the same mattress directly online. As a result, Atour has further upgraded from a hotel chain group to a leading lifestyle brand group.</p><p>By the end of March this year, Atour had developed a total of 1,136 scene retail SKUs. In 2019 and 2020, the GMV generated by the retail business was 82.8 million yuan and 107.2 million yuan, respectively, representing a year-on-year increase of 29.5%. The GMV of retail business in the first quarter of this year reached 32.6 million yuan.</p><p>The scene retail business extended by the concept of \"experience school\" has already begun to generate income for Atour.</p><p><b>In 2020, Atour scenario retail business revenue accounted for 4.5% of its total revenue, which was higher than the retail business revenue generated by other domestic hotel chains.</b></p><p>Thanks to the positioning of the mid-to-high-end market and the development of scene retail business popular among young people, Atou's audience has gradually focused on high-net-worth users with a certain consumption level.</p><p>First of all, from a geographical perspective, nearly 80% of Atour hotels are located in the core areas of first-tier, new first-tier and second-tier cities. To a certain extent, this means that the consumption level of Atour hotels is not low.</p><p>At the same time, according to the prospectus, the proportion of Atour users under the age of 30 exceeds 24%, and the transaction volume contributed by these users accounts for 35%; The proportion of Atour users between the ages of 30 and 40 is as high as 45.8%.</p><p>As of the first quarter of 2021, Atour has surpassed 25 million members. From 2015 to 2020, the number of Atour members grew at a CAGR of 79.6%. In the past two years, the number of room-night bookings contributed by members accounted for 39.3% and 44.7% respectively, accounting for a relatively large proportion and still growing.</p><p><b>Demonstrating Resilience Amid the Pandemic</b></p><p>Humanistic feelings and space with content can capture the hearts of consumers, but if it goes to the capital market to face investors directly, Atour needs outstanding performance.</p><p>For the hotel industry, if you want to expand, you need money, and if you want to make money, you need someone to live. Therefore, in addition to core performance indicators such as revenue and net profit, occupancy rate and ADR are often regarded as important indicators to measure hotel operation.</p><p>In early 2020, the sudden outbreak caught hotels large and small off guard. Atour has shown stronger resilience under the pandemic.</p><p>At the beginning of the year, Atour achieved a revenue of 1.567 billion yuan in 2020, which was basically the same as the revenue scale in 2019. While<a href=\"https://laohu8.com/S/600754\">Jinjiang Hotel</a>And the annual revenue of Huazhu Group fell by 34% and 9% year-on-year respectively.</p><p><b>The strong recovery and growth momentum continued until the first quarter of this year. Atou's revenue increased by 107.7% year-on-year, and at the same time, it achieved a net profit of 11.47 million yuan, turning losses into profits year-on-year.</b></p><p>In terms of cash flow, as of the end of 2020, Atour had cash flow from operating activities of 119 million yuan, cash flow from investing activities of-106 million yuan and cash flow from financing activities of 48.01 million yuan. At present, Atour is in a situation where the cash flow of operating activities is positive, the cash flow of investment activities is negative, and the cash flow of financing activities is positive, which means to a certain extent that it is still in a period of high-speed expansion and is a high-growth company. High growth means that Atour has infinite possibilities in the future.</p><p><img src=\"https://static.tigerbbs.com/e85086f30b4e5ae30d2f6da3c5f4406f\" tg-width=\"554\" tg-height=\"108\" referrerpolicy=\"no-referrer\"></p><p>From the perspective of occupancy rate and house price, after the epidemic, the recovery rate of Atou's business operation far exceeded the industry average.</p><p>First, in terms of occupancy, Atour had an occupancy rate of 73.4% in 2019. In 2020, under the impact of the pandemic, the occupancy rate of its hotels excluding quarantine expropriation was 67.1%. In April this year, the occupancy rate of Atour Hotel has recovered and exceeded the pre-epidemic level, reaching 80.4%. According to some data, the average annual occupancy rate of all star-rated hotels in China has not reached 63% in the 10 years ended in the first quarter of 2021. This means that in recent years, the occupancy rate of Atour has far exceeded the industry average, even in 2020, when the epidemic broke out.</p><p>According to the introduction of Fei Yu, president of BU of Atour Group Hotel in September last year, in February and March last year, Atour adopted a price strategy in order to quickly increase the overall occupancy rate, so the house price bottomed out. However, in April and May of the same year, its house prices rebounded strongly. In September last year, the overall house prices have recovered to 94% of the level of the same period last year. As of April this year, the overall house price of Atour has exceeded the pre-epidemic level, reaching 432.9 yuan, compared with 429.5 yuan in 2019.</p><p><img src=\"https://static.tigerbbs.com/83befb8d9bc0f22fd568dd0e7376b273\" tg-width=\"554\" tg-height=\"300\" referrerpolicy=\"no-referrer\"></p><p>In addition, dismantling Atou's revenue structure, Atou's revenue mainly comes from three parts: managed hotels (i.e. franchised stores), rented hotels (i.e. directly operated stores), retail & others. Regardless of the number of stores or the proportion of revenue contributed, the franchise stores with the main asset-light operation mode exceed those of direct stores, which is also an important reason for Ato's strong ability to resist risks.</p><p><img src=\"https://static.tigerbbs.com/44b32b674d8488124ac006b5fb4d76d7\" tg-width=\"554\" tg-height=\"107\" referrerpolicy=\"no-referrer\"></p><p>At present, Atour operates 575 franchise stores and only 33 direct stores. From 2015 to 2020, the number of Atour franchised hotels grew at an average CAGR of 86.2%.</p><p>In 2020, the revenue share of Atour franchise stores increased from 53.6% in 2019 to 59.1%. During the same period, the proportion of revenue from directly operated stores decreased from 39.2% in 2019 to 31.7%.</p><p><img src=\"https://static.tigerbbs.com/f94936c3e67661ef5a373c6a74d29939\" tg-width=\"554\" tg-height=\"143\" referrerpolicy=\"no-referrer\"></p><p>So to speak,<b>Franchise stores are the \"foundation\" of Atour, and the role of franchisees is an important partner of Atour Hotels.</b>All along, Atour has been praised by the industry for its management service schemes exported to franchisees and the benefits brought to franchisees.</p><p>According to the prospectus, the investment recovery cycle of Atour franchisees is mostly 3 to 5 years after the opening of the hotel, which is one of the mid-to-high-end hotel chains with the fastest investment recovery cycle in China.</p><p>Therefore, franchisees trust Atour and also show high stickiness. In 2020, 31.8% of Atour franchisees chose to join again.</p><p>Zhou Xiaojun, assistant president of China Jianyuan, a real estate fund management, project management and asset management service provider, once said, \"When we investigated the market reputation and operation of high-end hotel brands, Atour partners left a deep impression on us. They will not only communicate the operation status of the hotel in detail, but also talk about many management systems behind Atour, such as the key points and difficulties of later operation, the characteristics of customers, why customers prefer our Atour brand and so on\".</p><p>In 2019, China Jianyuan joined the sales office at Huihai South Road, the core economic area of Beijing Capital Airport, as Atour Hotel, which has now been transformed into the best hotel in the region.</p><p><b>Atour Core Strengths</b></p><p><b>High-end positioning chain groups and lifestyle brands are the core advantages of Atour.</b></p><p><b>Differentiated positioning in the middle and high-end market, Atour has chosen the right direction from the beginning.</b></p><p>In the future, Atour will further benefit from the increase in the penetration rate of mid-to high-end hotels. According to the Frost & Sullivan Report, the CAGR of the number of guest rooms in mid-to high-end hotels was 25.7% from 2015 to 2019, compared with 15.2% in the overall hotel chain industry during the same period. It is estimated that the compound average growth rate of the number of guest rooms in mid-to high-end hotel chains will be 18.9% from 2021 to 2025, which will still be higher than the overall growth rate of 8.8% in the industry. The penetration rate of mid-to high-end hotel rooms will also increase from 10.5% in 2020 to 16.1%.</p><p>At the same time, the low concentration of the mid-to-high-end hotel industry also allows Atour to sit firmly as the \"first brother\". At present, the top five domestic<a href=\"https://laohu8.com/S/00045\">Grand Hotel</a>The total number of mid-to high-end rooms of the Group amounted to 197,000, accounting for 31.8%, and the concentration of mid-to high-end hotel industry was relatively low. Among them, Atour has 58,000 mid-to high-end guest rooms, accounting for 9.4%, ranking first in the industry in market share.</p><p><b>The core of lifestyle branding lies in brand tonality and consumer loyalty.</b></p><p>On Xiaohongshu, a \"good life sharing community\", the number of notes about Atour is as high as 10,000+. Enter \"Atour\" in the search box, and the related words that pop up include Atour breakfast, Atour pillow, Atour mattress, Atour shampoo, etc., which is full of life outside accommodation. Follow the related words and click in, and it gets rave reviews. Among them, during the epidemic isolation period, Atour Isolation Hotel has become a \"surprise\" in the mouth of many netizens.</p><p>In fact, many hotels are expanding their scene retail business. In contrast, Atour has certain first-mover advantages and technical precipitation.</p><p>According to the official introduction, in the mid-to-high-end market, Atour is the first hotel group in China to officially expand its scene retail business. At present, it has formed a certain scale in terms of brand integration and cooperative suppliers, and has established a strong consumer mind and reputation.</p><p>As of the first quarter of 2021, Atour has incubated original lifestyle brands in three major categories: sleep, fragrance and personal care, and travel, namely Atour Planet, Sahe, and Z2GO & CO.</p><p>At the same time, Atour also introduced DTC mode for the production and sales of original lifestyle brands. DTC is Direct to Consumer, that is, taking consumers' needs as the focus to guide manufacturers' design, production, product selection and marketing in reverse.</p><p><b>In addition, compared with traditional consumer brands, the natural lifestyle scene of hotels adds advantages to Atour.</b>For example, the average daily stay of each tenant in the hotel is about 6-8 hours, and there are many contact scenarios that can realize consumption.</p><p><b>How will Atour perform in the secondary market?</b></p><p>Looking ahead, will Atour gain the favor of capital in the secondary market?</p><p><b>Before the listing, Atour received three rounds of financing, and the lineup of investors was not inferior, including Legend Capital, Dehui Capital,<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>Former CEO Lu Zhaoxi, Ctrip, etc.</b></p><p>According to the latest updated prospectus, after the IPO, Wang Haijun holds 27.1% of the shares and is the largest shareholder, holding 71.1% of the voting rights of the company. In addition, Legend Capital holds 26.2%, Dehui Capital holds 14% and Ctrip holds 12.8%.</p><p><b>An important reason for choosing to list on the US stock market at this time may be that there are many favorable factors for Atour at present.</b></p><p>First of all, after the epidemic, the hotel industry has accelerated its clearance, and hotel chains are more favored by investors due to their strong pressure resistance. At the same time, with the popularization of COVID-19 vaccine, the market is optimistic about the recovery of the wine and travel industry.</p><p>In terms of businesses valued by investors in the secondary market, it is expected that Atour will still benefit from the growth space of hotel chain and scene retail business in the future.</p><p>According to the Frost & Sullivan Report, the revenue of China's hotel chain industry increased from RMB245.4 billion in 2015 to RMB450 billion in 2019, representing a CAGR of 16.4%. China's chaining rate is only 31.5%, which still has plenty of room for growth compared to the 72.9% in the United States.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.36kr.com/p/1283522749624073\">36氪</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/38f45e6504561f2ba5ca277e73b98680","relate_stocks":{"ATAT":"亚朵"},"source_url":"https://www.36kr.com/p/1283522749624073","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1173114193","content_text":"“一个时代需要一个时代的品牌和企业”\n\n“进门的一杯热茶，一双舒适的棉质拖鞋，一碗深夜的热粥，一份可口的水果”——某世界500强企业的条线业务负责人将这称为“亚朵四件套”。\n亚朵集团（下称“亚朵”）成立于2013年，与诸多将“豪”“锦”“万”“华”等贵气十足的文字用作品牌名称的酒店相比，这个源自云南亚朵村的名字似一股清流，流淌着自然、生活及人文情怀。\n业外人士知晓亚朵，或许是因为其出圈的IP跨界营销动作，例如与网易云音乐合作的主题酒店等。\n而对于业内人士而言，亚朵更像是一匹酒店界的黑马，在华住、锦江、首旅三足鼎立的格局中杀出重围，在快捷酒店深入人心的时代建立起属于亚朵的消费者心智，率先提出“生活方式品牌”的概念，为整个酒店行业提供了一个“始于酒店，不止于酒店”的创新思路。\n根据弗若斯特沙利文的数据，截至2020年底，按客房数量计，亚朵是中国最大的中高档连锁酒店。\n更重要的是，亚朵即将叩响资本市场的大门，以“ATAT”为股票代码在纳斯达克挂牌上市。如若成功上市，亚朵将成为“中国新住宿经济第一股”。\n根据更新后的招股书，亚朵拟发行1974.47万股ADS，定价区间为每ADS13.5美元至15.5美元，同时赋予承销商296.17万股ADS的超额配售权，计划筹资3.07亿美元至3.52亿美元。\n高瓴表示将以首次公开募股价格进行认购，并意向认购价值1.2亿美元的ADS。知名投资机构作为基石投资者，表明了资本市场对亚朵集团基本面和长期价值的认可。\n对于亚朵，市场好奇其究竟打造了怎样的创新业务模式，亦关心其业绩水平究竟如何，同时亚朵相较同业的核心优势，以及其未来在二级市场的表现都是市场关注的重点。\n那么，本文试图为你解答上述问题。（仅阐述观点，不构成投资建议。）\n“体验派”思路让酒店不止于睡觉\n“一个时代需要一个时代的品牌和企业”，亚朵创始人兼CEO王海军曾发出这样的感慨。\n在王海军的带领下，一群从事酒店行业的“老将”聚首，试图打造出一个新时代的酒店品牌及企业。如今看来，亚朵或许已成为他们第一个理想的成果。\n在这个产业与消费不断升级的时代背景下，王海军不想再做低端，仅能满足房客住宿需求的酒店。因此，差异化定位中高端市场，满足住宿需求的同时注重体验感就成为了亚朵贯彻至今的发展方向。\n作为中国头部的中高档连锁酒店，亚朵旗下已拥有中端、中高端、高端和豪华四大细分市场的6个品牌，具体包括中端品牌“轻居”，中高端品牌“亚朵酒店”、“亚朵X酒店”，高端品牌“亚朵S酒店”、“ZHOTEL”，以及豪华品牌“A.T.HOUSE”。\n数量规模方面，截至2021年一季度，亚朵在营酒店数量达608家，客房数超7万间，覆盖131个城市，同时开发中酒店的数量为299家，开发中客房的数量超3万间。\n差异化的市场定位，源自亚朵的“体验派”思路。这一思路的核心在于从“经营房间”向“经营人群”转变，不仅如此，亚朵还总结出一套“标准个性化”服务方法，保障服务能紧跟消费者需求的变化。根据慧评网的消费者调研显示，亚朵的整体满意度得分自2017年以来在6个主要的中高端酒店品牌中始终保持第一位置。\n另外在亚朵看来，酒店是一个生活方式体验及生活用品销售的天然场景。比如，当客户觉得酒店的床垫很舒适，可以直接在线上购买同款床垫。亚朵也由此从一家连锁酒店集团进一步升级为领先的生活方式品牌集团。\n截至今年3月底，亚朵共开发了1136个场景零售SKU。2019年和2020年零售业务产生的GMV分别为8280万元和1.072亿元，同比增长29.5%。今年一季度的零售业务GMV达到3260万元。\n而由“体验派”理念延伸出来的场景零售业务也早已开始为亚朵创收。\n2020年，亚朵场景零售业务收入占其总收入的4.5%，高于国内其他连锁酒店产生的零售业务收入。\n得益于中高端市场定位，以及颇受年轻人欢迎的场景零售业务发展，亚朵的受众群体逐渐聚焦于具备一定消费水平的高净值用户。\n首先，从地域来看，亚朵旗下近80%的酒店均分布在一线、新一线和二线城市的核心地段。这在一定程度上意味着，亚朵旗下酒店的受众群体消费水平不低。\n同时，根据招股书，30岁以下亚朵用户的占比超24%，这部分用户贡献的交易额占比达35%；30-40岁之间的亚朵用户占比更高达45.8%。\n截至2021年第一季度，亚朵的会员数量已超2500万。2015至2020年，亚朵的会员数量复合年均增长率高达79.6%。近两年，会员贡献的间夜预订数占比分别为39.3%和44.7%，占比较大且仍在增长。\n疫情之下彰显韧性\n人文情怀与有内容的空间可以俘获消费者的芳心，但若走向资本市场直面投资者，亚朵更需要拿得出手的业绩。\n对于酒店行业来说，想扩张就要用钱，想赚钱就要有人来住。因此，除了营收、净利润等核心业绩指标以外，入住率、ADR等常被视作衡量酒店经营情况的重要指标。\n2020年初，突如其来的疫情把大大小小的酒店打了个措手不及。而亚朵在疫情之下显现出了更强的韧性。\n在年初集体“沦陷”的情况下，亚朵2020年实现营收15.67亿元，与2019年的营收规模基本持平。而锦江酒店和华住集团的全年营收则分别同比下滑34%和9%。\n强劲的恢复与成长势头延续至今年一季度，亚朵营收的同比增幅高达107.7%，同时实现净利润1147万元，同比扭亏为盈。\n现金流方面，截至2020年底，亚朵的经营活动现金流为1.19亿元，投资活动现金流为-1.06亿元，筹资活动现金流为4801万元。当前，亚朵处于经营活动现金流为正，投资活动现金流为负，筹资活动现金流为正的情况，这在一定程度上意味着，其仍处在高速扩张期，是一家高成长性的公司。而高成长性则意味着，亚朵的未来有无限可能。\n\n而从出租率、房价来看，疫情之后，亚朵业务经营的复苏速度远超行业平均水平。\n首先，出租率方面，2019年亚朵出租率为73.4%。2020年，在疫情影响下，其不含隔离征用酒店的出租率为67.1%。而在今年4月，亚朵酒店出租率已然恢复并超过疫情前水平，高达80.4%。而有资料显示，截至2021年第一季度的10年以来，中国各星级酒店的年度平均出租率均未达到63%。这意味着，近些年亚朵的出租率水平已远超行业平均值，即使是疫情爆发的2020年也不例外。\n根据去年9月亚朵集团酒店BU总裁非鱼的介绍，去年2、3月份，亚朵为了快速拉升整体出租率，采取了价格策略，因此房价触底。但同年4、5月份，其房价就强势回弹，去年9月，整体的房价已经恢复到上年同期水平的94%。截止到今年4月，亚朵的整体房价已超越疫情前水平，达到432.9元，而2019年的整体房价则为429.5元。\n\n此外，拆解亚朵的营收结构，亚朵的营收主要来源于三部分：管理酒店（即加盟店）、租赁酒店（即直营店）、零售&其他。而不论是店面数量，还是所贡献的营收占比，主打轻资产运营模式的加盟店均超过直营店，这也是亚朵抗风险能力较强的一大重要原因。\n\n目前，亚朵经营的加盟店为575家，直营店仅33家。2015年至2020年，亚朵的加盟酒店数量年均复合增长率达86.2％。\n2020年，亚朵的加盟店营收占比由2019年的53.6%提升至59.1%。同期直营店的营收占比则由2019年的39.2%下降至31.7%。\n\n可以说，加盟店是亚朵的“立身之本”，加盟商的角色则是亚朵酒店的重要合伙人。一直以来，亚朵对加盟商输出的管理服务方案，以及为加盟商带来的效益均为业界称道。\n根据招股书，亚朵加盟商的投资回收周期多数是在酒店开业后的3至5年，是国内投资回收周期最快的中高端连锁酒店之一。\n因此，加盟商信赖亚朵，亦表现出较高的粘性。2020年，亚朵旗下31.8%的加盟商选择再次加盟。\n不动产基金管理、 项目管理、资产管理服务商中国建原助理总裁周晓军就曾表示，“我们在调研中高端酒店品牌的市场口碑、运营情况等信息时，亚朵伙伴们给我们留下了很深刻的印象，不仅会细致地沟通酒店的运营现状，也会谈到很多亚朵背后的管理体系，还有很多比如后期运营重点、难点，客户的特点，为什么客户会更喜欢我们亚朵的品牌等等”。\n2019年，中国建原将北京首都机场临空经济核心区汇海南路的售楼处加盟为亚朵酒店，目前该售楼处已转型为该区域最好的酒店。\n亚朵的核心优势\n中高端定位连锁集团以及生活方式品牌是亚朵的核心优势。\n差异化定位中高端市场，亚朵从一开始就选对了方向。\n未来，随着中高端酒店渗透率的提升，亚朵将进一步受益。根据弗若斯特沙利文报告，2015-2019年中高档酒店客房数量复合平均增速为25.7%，同期连锁酒店行业整体为15.2%。预计2021至2025年中高档连锁酒店客房数量复合平均增速为18.9%，仍将高于行业整体8.8%的增速。而中高档酒店客房的渗透率也将从2020年的10.5%提升至16.1%。\n同时，中高端酒店行业的低集中度也让亚朵可以稳坐“一哥”之席。目前，国内前五大酒店集团的中高档客房数量合计为19.7万间，占比 31.8%，中高档酒店行业集中度较低。其中，亚朵拥有5.8万家中高端客房，占比达9.4%，市占率位居行业第一。\n生活方式品牌的核心在于品牌调性和消费者忠诚度。\n在“美好生活分享社区”小红书上，关于亚朵的笔记数量高达1万+。在搜索框中输入“亚朵”，弹出的关联词包括亚朵早餐、亚朵枕头、亚朵床垫、亚朵洗发水等等，处处充满住宿以外的生活气息。顺着关联词点进去，更是好评如潮。其中，在疫情隔离期，亚朵隔离酒店成为了不少网友口中的“惊喜”。\n实际上，不少酒店都在拓展场景零售业务。相比之下，亚朵具备一定的先发优势及技术沉淀。\n据官方介绍，在中高端市场，亚朵是国内第一个正式拓展场景零售业务的酒店集团，目前其在品牌集成，合作供应商方面均已形成一定规模，且建立起较强的消费者心智和口碑。\n截至2021年第一季度，亚朵的场景零售业务已孵化出睡眠、香氛个护和出行三大品类的原创生活品牌，分别是亚朵星球、萨和及Z2GO&CO.。\n同时，针对原创生活品牌的生产和销售，亚朵还引入了DTC模式。DTC即直达消费者（Direct to Consumer），也就是以消费者的需求为重心去反向指导厂商的设计、生产、选品和营销。\n此外，与传统消费品牌相比，酒店天然具备的生活方式场景更为亚朵增加了优势。举例来看，每个房客日均在酒店内逗留的时长大约为6-8小时，可以实现消费的触点场景较多。\n亚朵的二级市场表现会怎样？\n展望未来，亚朵在二级市场会获得资本的看好吗？\n上市前，亚朵获得三轮融资，投资方阵容不逊，包括君联资本、德晖资本、阿里巴巴前CEO陆兆禧、携程等。\n根据最新更新的招股书，IPO后，王海军持股27.1%，为最大股东，掌握公司71.1%的投票权。此外，君联资本持股26.2%，德晖资本持股14%，携程持股12.8%。\n而选择此时在美股上市，一个重要原因或许是当前对亚朵利好的因素较多。\n首先，疫情之后，酒店行业加速出清，连锁酒店由于较强的抗压性更受投资者看好。同时，随着新冠肺炎疫苗的普及，市场看好酒旅行业的复苏。\n而在二级市场投资者看重的业务方面，预计未来亚朵仍将受益于连锁酒店及场景零售业务的增长空间。\n根据弗若斯特沙利文报告，中国连锁酒店业的营业收入从2015年的2454亿元增至2019年的4500亿元，年均复合增长率为16.4%。中国的连锁化率仅为31.5%，与美国的72.9%相比，仍有较大的增长空间。","news_type":1,"symbols_score_info":{"ATAT":0.9}},"isVote":1,"tweetType":1,"viewCount":1953,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125507798,"gmtCreate":1624678667314,"gmtModify":1703843465792,"author":{"id":"3581667278730959","authorId":"3581667278730959","name":"NGYEOWCHONG","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581667278730959","idStr":"3581667278730959"},"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/125507798","repostId":"1145459385","repostType":4,"isVote":1,"tweetType":1,"viewCount":1700,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":125536766,"gmtCreate":1624679523155,"gmtModify":1703843488958,"author":{"id":"3581667278730959","authorId":"3581667278730959","name":"NGYEOWCHONG","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581667278730959","authorIdStr":"3581667278730959"},"themes":[],"htmlText":"1","listText":"1","text":"1","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/125536766","repostId":"2146005842","repostType":4,"repost":{"id":"2146005842","kind":"news","pubTimestamp":1624668303,"share":"https://ttm.financial/m/news/2146005842?lang=en_US&edition=fundamental","pubTime":"2021-06-26 08:45","market":"hk","language":"zh","title":"New Stock News | Yacht International Holdings Limited submitted to the GEM of Hong Kong Stock Exchange, mainly engaged in the sales of first-hand yachts of luxury and mid-to-high-end brands","url":"https://stock-news.laohu8.com/highlight/detail?id=2146005842","media":"智通财经","summary":"智通财经APP获悉，据港交所6月25日披露，游艇国际控股有限公司向港交所创业板递交上市申请，独家保荐人为新华汇富旗下汇富融资有限公司。公司是以香港为基地的游艇经销集团，主要从事豪华及中高端品牌的一手游艇销售。公司亦从事二手游艇及其他配套配件销售及提供全面的增值服务，包括保养及维修服务。公司在香港设有一个销售办事处以推广最新型号游艇来吸引潜在客户及促进游艇销售。","content":"<p><html><body>Zhitong Finance APP was informed that according to the disclosure of HKEx on June 25th, Yacht International Holdings Co., Ltd. submitted a listing application to the Growth Enterprise Market of HKEx, and the exclusive sponsor was Huifu Financing Co., Ltd., a subsidiary of Xinhua Huifu.</p><p><center><img src=\"https://img.zhitongcaijing.com/image/20210626/1624667864475917.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1624667864475917.png\"/></center>The company began distributing yachts in Hong Kong in 2014. Since 2014 and 2015, the Company's<a href=\"https://laohu8.com/S/DLX\">luxury</a>The motor yacht brands are Absolute and Azimut, among the few internationally renowned luxury motor yacht brands, respectively. The company is a yacht dealership group based in Hong Kong, mainly engaged in the sale of first-hand yachts of luxury and mid-to-high-end brands. The Company is also engaged in the sale of used yachts and other accessories and the provision of comprehensive value-added services, including maintenance and repair services. During the Track Record Period, substantially all of the Company's yacht sales were conducted in Hong Kong and the Company was able to expand its sales network to Singapore, Taiwan and Shenzhen. The company has a balanced product portfolio, offering a wide range of luxury motor yachts, sports boats and inflatable boats to attract a wide range of customers. The company has a sales office in Hong Kong to promote the latest models of yachts to attract potential customers and boost yacht sales. The Company's customers are mainly individuals (end-users of products) with high disposable income in Hong Kong and a number of enterprises.</p><p>As at the Latest Practicable Date, the Company's brand portfolio consisted of two luxury brands — Absolute and Azimut and two mid-to-high-end brands — Four Winns and Zar Formenti. For FY2019, FY2020 and FY2021, the sales of first-hand Absolute luxury motor yachts amounted to HK$47.3 million, HK$32.7 million and HK$60.1 million, representing approximately 19.2%, 12.9% and 13.0% of the Company's revenue, respectively; For FY2019, FY2020 and FY2021, sales of first-hand Azimut luxury motor yachts amounted to HK$181.4 million, HK$195.4 million and HK$325 million, representing approximately 73.5%, 77.1% and 70.5% of the Company's revenue, respectively;</p><p>For FY2019, FY2020 and FY2021, the Company's sales to the five largest customers amounted to approximately HK$163.3 million, HK$193.1 million and HK$222.2 million, respectively, accounting for 66.2%, 76.1% and 48.3% of the total revenue; And sales to the largest customer amounted to HK$79.6 million, HK$62.6 million and HK$91.2 million, respectively, representing 32.3%, 24.7% and 19.8% of the total revenue for each of the Relevant Years.</p><p>During the Track Record Period, the Company's revenue was derived from (i) sales of yachts and related components; And (ii) service income. For FY2019, FY2020 and FY2021, revenue amounted to HK$246.7 million, HK$253.6 million and HK$461.2 million, respectively. Gross profit for the same year was HK$34.15 million, HK$38.97 million and HK$57.97 million, respectively.</p><p><center><img src=\"https://img.zhitongcaijing.com/image/20210626/1624667847635417.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1624667847635417.png\"/></p><p></center></body></html></p>","source":"stock_zhitongcaijing","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>New Stock News | Yacht International Holdings Limited submitted to the GEM of Hong Kong Stock Exchange, mainly engaged in the sales of first-hand yachts of luxury and mid-to-high-end brands</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\">\nNew Stock News | Yacht International Holdings Limited submitted to the GEM of Hong Kong Stock Exchange, mainly engaged in the sales of first-hand yachts of luxury and mid-to-high-end brands\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经</strong><span class=\"h-time small\">2021-06-26 08:45</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><body>Zhitong Finance APP was informed that according to the disclosure of HKEx on June 25th, Yacht International Holdings Co., Ltd. submitted a listing application to the Growth Enterprise Market of HKEx, and the exclusive sponsor was Huifu Financing Co., Ltd., a subsidiary of Xinhua Huifu.</p><p><center><img src=\"https://img.zhitongcaijing.com/image/20210626/1624667864475917.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1624667864475917.png\"/></center>The company began distributing yachts in Hong Kong in 2014. Since 2014 and 2015, the Company's<a href=\"https://laohu8.com/S/DLX\">luxury</a>The motor yacht brands are Absolute and Azimut, among the few internationally renowned luxury motor yacht brands, respectively. The company is a yacht dealership group based in Hong Kong, mainly engaged in the sale of first-hand yachts of luxury and mid-to-high-end brands. The Company is also engaged in the sale of used yachts and other accessories and the provision of comprehensive value-added services, including maintenance and repair services. During the Track Record Period, substantially all of the Company's yacht sales were conducted in Hong Kong and the Company was able to expand its sales network to Singapore, Taiwan and Shenzhen. The company has a balanced product portfolio, offering a wide range of luxury motor yachts, sports boats and inflatable boats to attract a wide range of customers. The company has a sales office in Hong Kong to promote the latest models of yachts to attract potential customers and boost yacht sales. The Company's customers are mainly individuals (end-users of products) with high disposable income in Hong Kong and a number of enterprises.</p><p>As at the Latest Practicable Date, the Company's brand portfolio consisted of two luxury brands — Absolute and Azimut and two mid-to-high-end brands — Four Winns and Zar Formenti. For FY2019, FY2020 and FY2021, the sales of first-hand Absolute luxury motor yachts amounted to HK$47.3 million, HK$32.7 million and HK$60.1 million, representing approximately 19.2%, 12.9% and 13.0% of the Company's revenue, respectively; For FY2019, FY2020 and FY2021, sales of first-hand Azimut luxury motor yachts amounted to HK$181.4 million, HK$195.4 million and HK$325 million, representing approximately 73.5%, 77.1% and 70.5% of the Company's revenue, respectively;</p><p>For FY2019, FY2020 and FY2021, the Company's sales to the five largest customers amounted to approximately HK$163.3 million, HK$193.1 million and HK$222.2 million, respectively, accounting for 66.2%, 76.1% and 48.3% of the total revenue; And sales to the largest customer amounted to HK$79.6 million, HK$62.6 million and HK$91.2 million, respectively, representing 32.3%, 24.7% and 19.8% of the total revenue for each of the Relevant Years.</p><p>During the Track Record Period, the Company's revenue was derived from (i) sales of yachts and related components; And (ii) service income. For FY2019, FY2020 and FY2021, revenue amounted to HK$246.7 million, HK$253.6 million and HK$461.2 million, respectively. Gross profit for the same year was HK$34.15 million, HK$38.97 million and HK$57.97 million, respectively.</p><p><center><img src=\"https://img.zhitongcaijing.com/image/20210626/1624667847635417.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1624667847635417.png\"/></p><p></center></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://www.zhitongcaijing.com/content/detail/501817.html\">智通财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5a0d8d07bb7c07ed67df2bae10160584","relate_stocks":{"159915":"创业板","399006":"创业板指","000001.SH":"上证指数","DLX":"豪华"},"source_url":"http://www.zhitongcaijing.com/content/detail/501817.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146005842","content_text":"智通财经APP获悉，据港交所6月25日披露，游艇国际控股有限公司向港交所创业板递交上市申请，独家保荐人为新华汇富旗下汇富融资有限公司。该公司于2014年开始在香港经销游艇。自2014年及2015年起，公司代理的豪华机动游艇品牌分别为Absolute及Azimut(为少数国际知名豪华机动游艇品牌)。公司是以香港为基地的游艇经销集团，主要从事豪华及中高端品牌的一手游艇销售。公司亦从事二手游艇及其他配套配件销售及提供全面的增值服务，包括保养及维修服务。于往绩期间，公司的游艇销售基本上全部于香港进行，且公司能够将销售网络扩展至新加坡、中国台湾及深圳。公司拥有均衡的产品组合，提供豪华机动游艇、运动艇及充气船等各式各样的产品，以吸纳广泛客户。公司在香港设有一个销售办事处以推广最新型号游艇来吸引潜在客户及促进游艇销售。公司的客户主要为在香港拥有高可支配收入的个人(产品终端用户)以及多间企业。于最后可行日期，公司的品牌组合包括两个豪华品牌 — Absolute及Azimut以及两个中高端品牌 — Four Winns及Zar  Formenti。于2019财政年度、2020财政年度及2021财政年度，一手Absolute豪华机动游艇的销售额为4730万港元、3270万港元及6010万港元，分别占公司收益的约19.2%、12.9%及13.0%;于2019财政年度、2020财政年度及2021财政年度，一手Azimut豪华机动游艇的销售额为1.814亿港元、1.954亿港元及3.25亿港元，分别占公司收益的约73.5%、77.1%及70.5%;于2019财政年度、2020财政年度及2021财政年度，公司向五大客户的销售分别为约1.633亿港元、1.931亿港元及2.222亿港元，占总收益66.2%、76.1%及48.3%;以及于相关年度每年向最大客户的销售分别为7960万港元、6260万港元及9120万港元，占总收益32.3%、24.7%及19.8%。于往绩期间，公司的收益源于(i)销售游艇及相关部件;及(ii)服务收入。于2019财政年度、2020财政年度及2021财政年度，收益分别为2.467亿港元、2.536亿港元及4.612亿港元。同年的毛利分别为3415万港元、3897万港元及5797万港元。","news_type":1,"symbols_score_info":{"159915":1,"399006":1,"DLX":1,"000001.SH":1}},"isVote":1,"tweetType":1,"viewCount":1684,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125531693,"gmtCreate":1624679393412,"gmtModify":1703843485533,"author":{"id":"3581667278730959","authorId":"3581667278730959","name":"NGYEOWCHONG","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581667278730959","authorIdStr":"3581667278730959"},"themes":[],"htmlText":"1","listText":"1","text":"1","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/125531693","repostId":"1107914422","repostType":4,"repost":{"id":"1107914422","kind":"news","weMediaInfo":{"introduction":"追踪全球财经热点，精选影响您财富的资讯，投资理财必备神器！","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1624676168,"share":"https://ttm.financial/m/news/1107914422?lang=en_US&edition=fundamental","pubTime":"2021-06-26 10:56","market":"us","language":"zh","title":"The highest in the last thirty years! The Fed's most concerned price index exploded again","url":"https://stock-news.laohu8.com/highlight/detail?id=1107914422","media":"华尔街见闻","summary":"美国核心通胀指标5月再度爆表。\n据美国商务部统计，美国5月PCE物价指数同比升3.9%，预期升3.9%，较前值3.6%小幅提高，远高于美联储的官方通胀目标2%。\n\n此外，美国5月核心PCE物价指数同比","content":"<p>The core inflation indicator of the United States exploded again in May.</p><p>According to the statistics of the U.S. Department of Commerce, the PCE price index in the United States rose by 3.9% year-on-year in May, and it is expected to rise by 3.9%, slightly higher than the previous value of 3.6%, and far higher than the official inflation target of 2% of the Federal Reserve.</p><p><img src=\"https://static.tigerbbs.com/35bd2b9f00875bc868300399b8ebf93d\" tg-width=\"640\" tg-height=\"331\" referrerpolicy=\"no-referrer\"></p><p>Additionally, the U.S. core PCE price index rose 3.4% year-on-year in May, the highest since 1991, after previously expecting a 3.4% year-on-year increase, compared with the previous value in April of 3.1% year-on-year growth.</p><p><img src=\"https://static.tigerbbs.com/5561e65f473b2f0d55bee86858c46072\" tg-width=\"500\" tg-height=\"273\" referrerpolicy=\"no-referrer\"></p><p>In terms of other data, the income of U.S. residents fell by 2% month-on-month, slightly better than the expected drop of 2.5% and far better than the drop of 13.1% in April; Consumer spending remained unchanged from the previous month, lower than the expected growth of 0.4% and the growth of 0.9% in April.</p><p><img src=\"https://static.tigerbbs.com/51b094c005211101c82ae95559d7ab9a\" tg-width=\"500\" tg-height=\"275\" referrerpolicy=\"no-referrer\"></p><p>Of course, year-over-year income growth for U.S. residents accelerated modestly due to the low base effect, while spending growth slowed significantly (but by higher values).</p><p><img src=\"https://static.tigerbbs.com/7467f4029bdeebced6df11bea878316c\" tg-width=\"500\" tg-height=\"265\" referrerpolicy=\"no-referrer\"></p><p><a href=\"https://laohu8.com/S/C\">Citigroup</a>said the adjustment to spending primarily reflects higher prices for parts such as airfares, rental cars and used cars, and while these unusually strong price increases will ultimately prove temporary, they may continue for another month or two.</p><p>It is worth noting that with the gradual withdrawal of stimulus measures, personal disposable income decreased significantly.</p><p><img src=\"https://static.tigerbbs.com/13f06f68d06ccc7f38b60878fa572c86\" tg-width=\"500\" tg-height=\"378\" referrerpolicy=\"no-referrer\"></p><p>On breakdown revenues, government wages rose 3.5% year-on-year, up from 1.3% in April, while private worker wages rose 15.7% year-on-year, down from a record 19.3% in April.</p><p><img src=\"https://static.tigerbbs.com/fb642ae4d8b547460a54614b9785bc5f\" tg-width=\"500\" tg-height=\"353\" referrerpolicy=\"no-referrer\"></p><p>It is worth mentioning that changes in spending and income have pushed down the savings rate.</p><p><img src=\"https://static.tigerbbs.com/d835f78557054dbbffcd941df0975338\" tg-width=\"500\" tg-height=\"299\" referrerpolicy=\"no-referrer\"></p><p><b>Consumer spending is on track</b></p><p>Analysts pointed to the report showing that spending growth due to the pandemic relief stimulus earlier this year has slowed and consumption has entered a more sustainable rhythm and pace – with wage and salary spending set to go mainstream. With mass vaccinations and the reopening of the economy giving consumers confidence to travel and resume many pre-pandemic activities, coupled with higher savings levels coupled with fewer pandemic restrictions, spending on services should reach pre-pandemic levels in the coming months.</p><p>With retail sales hovering at all-time highs, consumer spending has begun to shift to services — the largest component of the U.S. economy, while durable goods spending has dropped the most since February.</p><p>At the same time, rising demand, supply bottlenecks and capacity constraints are pushing up prices, and rising inflation has weakened people's purchasing power, analysts said.</p><p>Additionally, Affinity Solutions CEO Jonathan Silver said high-income Americans are driving most of the spending growth, and they have more money to pay for services that weren't available to everyone during most of the pandemic.</p><p>Households earning more than $200,000 spent 16% more at restaurants in May than in April, the data shows. According to an analysis of credit and debit card transactions by Affinity Solutions, people making between $31,000 and $60,000 saw only a 5% increase in spending.</p><p>With regard to the PCE inflation rate, senior Fed officials have been downplaying the increase. Fed leaders have insisted that the price index will fall back next year as the economy returns to normal, most people return to work, and widespread labor and supply shortages fade away.</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>The highest in the last thirty years! The Fed's most concerned price index exploded again</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 highest in the last thirty years! The Fed's most concerned price index exploded again\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time smaller\">2021-06-26 10:56</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The core inflation indicator of the United States exploded again in May.</p><p>According to the statistics of the U.S. Department of Commerce, the PCE price index in the United States rose by 3.9% year-on-year in May, and it is expected to rise by 3.9%, slightly higher than the previous value of 3.6%, and far higher than the official inflation target of 2% of the Federal Reserve.</p><p><img src=\"https://static.tigerbbs.com/35bd2b9f00875bc868300399b8ebf93d\" tg-width=\"640\" tg-height=\"331\" referrerpolicy=\"no-referrer\"></p><p>Additionally, the U.S. core PCE price index rose 3.4% year-on-year in May, the highest since 1991, after previously expecting a 3.4% year-on-year increase, compared with the previous value in April of 3.1% year-on-year growth.</p><p><img src=\"https://static.tigerbbs.com/5561e65f473b2f0d55bee86858c46072\" tg-width=\"500\" tg-height=\"273\" referrerpolicy=\"no-referrer\"></p><p>In terms of other data, the income of U.S. residents fell by 2% month-on-month, slightly better than the expected drop of 2.5% and far better than the drop of 13.1% in April; Consumer spending remained unchanged from the previous month, lower than the expected growth of 0.4% and the growth of 0.9% in April.</p><p><img src=\"https://static.tigerbbs.com/51b094c005211101c82ae95559d7ab9a\" tg-width=\"500\" tg-height=\"275\" referrerpolicy=\"no-referrer\"></p><p>Of course, year-over-year income growth for U.S. residents accelerated modestly due to the low base effect, while spending growth slowed significantly (but by higher values).</p><p><img src=\"https://static.tigerbbs.com/7467f4029bdeebced6df11bea878316c\" tg-width=\"500\" tg-height=\"265\" referrerpolicy=\"no-referrer\"></p><p><a href=\"https://laohu8.com/S/C\">Citigroup</a>said the adjustment to spending primarily reflects higher prices for parts such as airfares, rental cars and used cars, and while these unusually strong price increases will ultimately prove temporary, they may continue for another month or two.</p><p>It is worth noting that with the gradual withdrawal of stimulus measures, personal disposable income decreased significantly.</p><p><img src=\"https://static.tigerbbs.com/13f06f68d06ccc7f38b60878fa572c86\" tg-width=\"500\" tg-height=\"378\" referrerpolicy=\"no-referrer\"></p><p>On breakdown revenues, government wages rose 3.5% year-on-year, up from 1.3% in April, while private worker wages rose 15.7% year-on-year, down from a record 19.3% in April.</p><p><img src=\"https://static.tigerbbs.com/fb642ae4d8b547460a54614b9785bc5f\" tg-width=\"500\" tg-height=\"353\" referrerpolicy=\"no-referrer\"></p><p>It is worth mentioning that changes in spending and income have pushed down the savings rate.</p><p><img src=\"https://static.tigerbbs.com/d835f78557054dbbffcd941df0975338\" tg-width=\"500\" tg-height=\"299\" referrerpolicy=\"no-referrer\"></p><p><b>Consumer spending is on track</b></p><p>Analysts pointed to the report showing that spending growth due to the pandemic relief stimulus earlier this year has slowed and consumption has entered a more sustainable rhythm and pace – with wage and salary spending set to go mainstream. With mass vaccinations and the reopening of the economy giving consumers confidence to travel and resume many pre-pandemic activities, coupled with higher savings levels coupled with fewer pandemic restrictions, spending on services should reach pre-pandemic levels in the coming months.</p><p>With retail sales hovering at all-time highs, consumer spending has begun to shift to services — the largest component of the U.S. economy, while durable goods spending has dropped the most since February.</p><p>At the same time, rising demand, supply bottlenecks and capacity constraints are pushing up prices, and rising inflation has weakened people's purchasing power, analysts said.</p><p>Additionally, Affinity Solutions CEO Jonathan Silver said high-income Americans are driving most of the spending growth, and they have more money to pay for services that weren't available to everyone during most of the pandemic.</p><p>Households earning more than $200,000 spent 16% more at restaurants in May than in April, the data shows. According to an analysis of credit and debit card transactions by Affinity Solutions, people making between $31,000 and $60,000 saw only a 5% increase in spending.</p><p>With regard to the PCE inflation rate, senior Fed officials have been downplaying the increase. Fed leaders have insisted that the price index will fall back next year as the economy returns to normal, most people return to work, and widespread labor and supply shortages fade away.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/f09c44f289c2f0d40610768fe6661fab","relate_stocks":{"161125":"标普500","513500":"标普500ETF博时","PSQ":"做空纳斯达克100指数ETF-ProShares","SPY":"标普500ETF",".DJI":"道琼斯","OEF":"标普100指数ETF-iShares","QQQ":"纳指100ETF","TQQQ":"纳指三倍做多ETF","IVV":"标普500ETF-iShares",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SDOW":"三倍做空道指30ETF-ProShares","SDS":"两倍做空标普500 ETF-ProShares","DOG":"道指ETF-ProShares做空","DJX":"1/100道琼斯","OEX":"标普100","SPXU":"三倍做空标普500ETF-ProShares","QID":"两倍做空纳斯达克指数ETF-ProShares","UDOW":"三倍做多道指30ETF-ProShares"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1107914422","content_text":"美国核心通胀指标5月再度爆表。\n据美国商务部统计，美国5月PCE物价指数同比升3.9%，预期升3.9%，较前值3.6%小幅提高，远高于美联储的官方通胀目标2%。\n\n此外，美国5月核心PCE物价指数同比增长3.4%，创1991年以来最高，此前预期同比增长3.4%，而4月的前值为同比增长3.1%。\n\n其他数据方面，美国居民收入环比下降2%，略好于预期的下降2.5%，远好于4月的下降13.1%；而消费支出环比不变，低于预期的增长0.4%及4月的增长0.9%。\n\n当然，由于低基数效应，美国居民收入同比增长温和加速，而支出增长显著放缓（但数值较高）。\n\n花旗表示，支出的调整主要反映了机票、租车和二手车等零部件价格的上涨，虽然这些异常强劲的价格上涨最终会证明是暂时的，但可能还会持续一两个月。\n值得注意的是，随着刺激措施的逐渐退出，个人可支配收入明显减少。\n\n在细分收入方面，政府工资同比增长3.5%，高于4月份的1.3%，而私人工人工资同比增长15.7%，低于4月份创纪录的19.3%。\n\n值得一提的是，支出与收入的变化已将储蓄率压低。\n\n消费支出正在走上正轨\n分析人士指出，该报告显示，今年早些时候的疫情纾困刺激措施导致的开支增长已经放缓，消费进入更可持续的节奏和步伐——工资和薪金支出将成为主流。由于大规模疫苗接种和经济的重新开放使消费者有信心旅行并恢复许多疫情之前的活动，再加上更高的储蓄水平加上更少的防疫限制，服务支出应该会在未来几个月达到疫情前的水平。\n随着零售销售额徘徊在历史高位，消费者的消费已经开始转向服务业——这是美国经济的最大组成部分，而耐用品支出创下了2月以来的最大跌幅。\n分析人士还指出，与此同时，需求增加、供应瓶颈和产能限制正在推高价格，通货膨胀的上升削弱了人们的的购买力。\n此外，Affinity Solutions CEO Jonathan Silver表示，高收入的美国人正在推动大部分的支出增长，他们有更多的钱来支付在疫情的大部分时间里无法为所有人提供的服务。\n数据显示，收入超过20万美元的家庭5月份在餐馆的支出比4月份增长了16%。根据Affinity Solutions对信用卡和借记卡交易的分析，收入在31000美元至60000美元之间的人的支出仅增加了5%。\n对于PCE通胀率，美联储高级官员一直在淡化这一增长。美联储领导人坚称，随着经济恢复正常、大多数人重返工作岗位以及普遍存在的劳动力和供应短缺现象逐渐消失，明年该价格指数将回落。","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"OEX":0.9,"PSQ":0.9,"DJX":0.9,"QQQ":0.9,"OEF":0.9,"SDS":0.9,"UDOW":0.9,".SPX":0.9,"TQQQ":0.9,"SPXU":0.9,"IVV":0.9,"SPY":0.9,"QID":0.9,"DOG":0.9,".DJI":0.9,".IXIC":0.9,"ESmain":0.9,"SDOW":0.9}},"isVote":1,"tweetType":1,"viewCount":2019,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125531922,"gmtCreate":1624679378866,"gmtModify":1703843484715,"author":{"id":"3581667278730959","authorId":"3581667278730959","name":"NGYEOWCHONG","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581667278730959","authorIdStr":"3581667278730959"},"themes":[],"htmlText":"1","listText":"1","text":"1","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/125531922","repostId":"1189591387","repostType":4,"repost":{"id":"1189591387","kind":"news","weMediaInfo":{"introduction":"界面是中国最大的商业新闻和社交平台，只服务于独立思考的人群。","home_visible":1,"media_name":"界面新闻","id":"30","head_image":"https://static.tigerbbs.com/be3a47b8a80a6b0d62c8f48a7534c1af"},"pubTimestamp":1624676746,"share":"https://ttm.financial/m/news/1189591387?lang=en_US&edition=fundamental","pubTime":"2021-06-26 11:05","market":"us","language":"zh","title":"Tencent Music made two structural adjustments in two weeks","url":"https://stock-news.laohu8.com/highlight/detail?id=1189591387","media":"界面新闻","summary":"进入六月中旬，腾讯音乐娱乐集团（以下简称“腾讯音乐”）在不到两周时间内，连续两次进行组织架构调整，分别涉及QQ音乐业务线，以及腾讯音乐集团层面的内容业务板块。\n界面新闻独家消息显示，6月11日中午，腾","content":"<p><div>In mid-June, Tencent Music Entertainment Group (hereinafter referred to as \"Tencent Music\") made two consecutive organizational structure adjustments in less than two weeks, involving QQ Music business line and content business segment at Tencent Music Group level. According to the exclusive news of the interface, at noon on June 11th, QQ Music Business, a subsidiary of Tencent Music, sent an internal letter offline, announcing the newly established \"Interactive Video Product Department\" offline of QQ Music Business. The leader was Ji Mingzhong, the current head of the national karaoke business line, who was responsible for the live broadcast business, song room business and video middle platform construction of QQ Music and national karaoke. Under the department...</p><p><a href=\"None\">Web link</a></div></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>Tencent Music made two structural adjustments in two weeks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTencent Music made two structural adjustments in two weeks\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/30\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/be3a47b8a80a6b0d62c8f48a7534c1af);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">界面新闻 </p>\n<p class=\"h-time smaller\">2021-06-26 11:05</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><div>In mid-June, Tencent Music Entertainment Group (hereinafter referred to as \"Tencent Music\") made two consecutive organizational structure adjustments in less than two weeks, involving QQ Music business line and content business segment at Tencent Music Group level. According to the exclusive news of the interface, at noon on June 11th, QQ Music Business, a subsidiary of Tencent Music, sent an internal letter offline, announcing the newly established \"Interactive Video Product Department\" offline of QQ Music Business. The leader was Ji Mingzhong, the current head of the national karaoke business line, who was responsible for the live broadcast business, song room business and video middle platform construction of QQ Music and national karaoke. Under the department...</p><p><a href=\"None\">Web link</a></div></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/06c120bbb961941a6910f63352c38f2b","relate_stocks":{"TME":"腾讯音乐"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1189591387","content_text":"进入六月中旬，腾讯音乐娱乐集团（以下简称“腾讯音乐”）在不到两周时间内，连续两次进行组织架构调整，分别涉及QQ音乐业务线，以及腾讯音乐集团层面的内容业务板块。\n界面新闻独家消息显示，6月11日中午，腾讯音乐旗下的QQ音乐业务线下发内部信，宣布QQ音乐业务线下新设立“互动视频产品部”，领导者由现任全民K歌业务线负责人计鸣钟担任，负责QQ音乐和全民K歌的直播业务、歌房业务，以及视频中台建设。\n在部门下，新设K歌互动产品中心、QQ音乐互动产品中心，负责两款产品的直播产品建设、运营及商业化工作。同时下设基础产品中心，负责QQ音乐、全民K歌直播的运营、流量分发推荐策略，以及互动产品建设。\n腾讯音乐一位运营负责人告诉界面新闻，这次CEO梁柱推动设立的“互动视频产品部”，架构在QQ音乐业务线之下，与QQ音乐和全民K歌平台产品部平行，主要承担直播运营和商业化产品开发，配备了完整的前、中和后台团队。\n不到半个月后，25日下午腾讯音乐发布今年第20号文件，宣布在集团旗下成立“内容业务线”，由腾讯音乐董事长彭迦信负责，推进版权内容引入、内容制作、内容管理、内容宣发以及内容服务等业务。\n据界面新闻了解，腾讯音乐的集团副总裁潘才俊将担任内容业务线下“内容合作部”负责人，兼任音乐云业务中心负责人，分管制作家工作室和演出合作中心。\n同时，在“内容业务线下”设立内容业务线决策管理委员会（性质为虚拟组），会长由彭迦信担任，其他成员包括潘才俊、王磊、陈默、梁韵恒、刘显铭以及李倞等六人。\n前述负责人告诉界面新闻，本次集团内容业务的调整方案，前段时间已经确定，部分人员在6月初就已做好新部门交接准备，“内容统一之后，下一步就是产品平台”。\n其它部分调整包括：\n原腾讯音乐“内容合作部”组织架构和人员调整至内容业务线下，推进集团KA音乐内容、词曲内容版权引入与商务合作。\n内容业务线下成立“内容工作室群”，配合各内容生产团队、上下游内容与平台团队，以及外部行业合作方和内容生产者，推进内容创作、IP打造、联合制作、演出合作等业务。\n同时成立“制作家工作室”，成立“哆咪嗦自制工作室”。\n集团旗下“联合文娱发展部”、“三三四五工作室”、“百亿工作室”和原TME内容合作部下“演出合作中心”的组织架构、职责和人员，整体平移至内容工作群下。\n内容业务线下成立“音乐人开放平台部”，推进集团中长尾音乐内容的发掘和引入，推进优秀内容创作者的发掘、引入和培养。\n内容业务线下成立“音乐云业务中心”，负责集团统一的音乐内容对外转授平台建设，负责音乐发行渠道的拓展，开发版权变现模式。\n“内容业务线”下其它人事调整如下：王磊担任联合文娱发展部总经理，陈默兼任内容业务线下宣推市场中心总经理，刘显铭担任演出合作中心副总经理，梁韵恒担任腾讯音乐企业发展部副总经理，李倞担任音乐人开放平台部总监。","news_type":1,"symbols_score_info":{"TME":0.9}},"isVote":1,"tweetType":1,"viewCount":2207,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125533224,"gmtCreate":1624679361068,"gmtModify":1703843483738,"author":{"id":"3581667278730959","authorId":"3581667278730959","name":"NGYEOWCHONG","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581667278730959","authorIdStr":"3581667278730959"},"themes":[],"htmlText":"1","listText":"1","text":"1","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/125533224","repostId":"1173114193","repostType":4,"isVote":1,"tweetType":1,"viewCount":1953,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125507798,"gmtCreate":1624678667314,"gmtModify":1703843465792,"author":{"id":"3581667278730959","authorId":"3581667278730959","name":"NGYEOWCHONG","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581667278730959","authorIdStr":"3581667278730959"},"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/125507798","repostId":"1145459385","repostType":4,"isVote":1,"tweetType":1,"viewCount":1700,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}