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落难二世祖

落难二世祖

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落难二世祖

2021-08-12

....

Fed voting committee: May begin to reduce the scale of asset purchases by the end of this year

落难二世祖

2021-08-11

....

Black Swan This Summer: Is the Next Fed Chairman Not Powell?

落难二世祖

2021-08-05

.....

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落难二世祖

2021-08-04

Nice

Lyft achieved adjusted EBITDA profit for the first time, which once rose more than 6% after hours

落难二世祖

2021-08-03

Nice

Suddenly! A crazy drop of 1.2 million! Is the room in Shenzhen school district really cold?

落难二世祖

2021-08-01

Wow

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落难二世祖

2021-07-31

Nice

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落难二世祖

2021-07-30

Omg

Ideally going to Hong Kong, it's time for Li Xiang to stop his temper

落难二世祖

2021-07-28

Omg

Apple's earnings report once again surprised four, all indicators exceeded expectations, and the stock price fell back after hours

落难二世祖

2021-07-24

Omg

Sorry, the original content has been removed

落难二世祖

2021-07-23

Omg

Intel's second-quarter financial report exceeded expectations, rose more than 3% after hours and then turned down

落难二世祖

2021-07-22

Oic

Sorry, the original content has been removed

落难二世祖

2021-07-21

Nice

Split the business and accelerate the transformation! Can GlaxoSmithKline successfully break the game this time?

落难二世祖

2021-07-20

Omg

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落难二世祖

2021-07-19

Wow, no bad

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落难二世祖

2021-07-18

Haiz

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落难二世祖

2021-07-17

Like pls

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落难二世祖

2021-07-15

Like pls

Past of listing of Chinese Internet companies

落难二世祖

2021-07-14

Like pls

S&P 500 and Nasdaq end down after hitting record highs

落难二世祖

2021-07-13

wow。。…。。。。。。。。。。。。。。。。。。。。

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Go to Tiger App to see more news

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Daly also believes that it is appropriate to start discussing taper.</p><p>Earlier, the Federal Reserve said it would continue to buy mortgage-backed securities and U.S. Treasury Bond until the inflation rate hovers at the average level of 2% and substantial further progress is made on the employment target. Those thresholds could be reached by the end of this year or early 2022, Daly said.</p><p>According to Fed officials, the main risk to the economic outlook is the spread of the Delta variant, but Daly said this is likely to have limited impact on the economy. She also said that on the whole, this will not undermine the economic recovery, but it will undermine the global economic recovery and bring resistance to the United States.</p><p>Regarding the issue of inflation, Daly said that the economic sectors most affected by reopening have experienced a surge in inflation, but the imbalance between supply and demand will eventually resolve itself.</p><p>Notably, Daly is a voting member of the Federal Reserve's Open Market Committee and has voting rights at FOMC meetings.</p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fed voting committee: May begin to reduce the scale of asset purchases by the end of this year</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed voting committee: May begin to reduce the scale of asset purchases by the end of this year\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-08-12 16:49</span>\n</p>\n</h4>\n</header>\n<article>\n<p>According to the Financial Times, San Francisco Fed President Mary Daly said that given the strength of the current economic rebound, the Fed may begin to taper asset purchases before the end of this year.</p><p>Daly said the strong recovery in household and business activity will continue to accelerate as more people return to work, consumer spending remains strong. Daly also believes that it is appropriate to start discussing taper.</p><p>Earlier, the Federal Reserve said it would continue to buy mortgage-backed securities and U.S. Treasury Bond until the inflation rate hovers at the average level of 2% and substantial further progress is made on the employment target. Those thresholds could be reached by the end of this year or early 2022, Daly said.</p><p>According to Fed officials, the main risk to the economic outlook is the spread of the Delta variant, but Daly said this is likely to have limited impact on the economy. She also said that on the whole, this will not undermine the economic recovery, but it will undermine the global economic recovery and bring resistance to the United States.</p><p>Regarding the issue of inflation, Daly said that the economic sectors most affected by reopening have experienced a surge in inflation, but the imbalance between supply and demand will eventually resolve itself.</p><p>Notably, Daly is a voting member of the Federal Reserve's Open Market Committee and has voting rights at FOMC meetings.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3637798\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/123472eab1159c5e881f8e540a346014","relate_stocks":{"161125":"标普500","513500":"标普500ETF","QID":"两倍做空纳斯达克指数ETF-ProShares",".DJI":"道琼斯","DJX":"1/100道琼斯","DXD":"两倍做空道琼30指数ETF-ProShares","SQQQ":"纳指三倍做空ETF","DDM":"2倍做多道指ETF-ProShares","OEX":"标普100","PSQ":"做空纳斯达克100指数ETF-ProShares","UDOW":"三倍做多道指30ETF-ProShares","QQQ":"纳指100ETF","UPRO":"三倍做多标普500ETF-ProShares","DOG":"道指ETF-ProShares做空","SH":"做空标普500-Proshares","SPXU":"三倍做空标普500ETF-ProShares",".IXIC":"NASDAQ Composite","SSO":"2倍做多标普500ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares","SDOW":"三倍做空道指30ETF-ProShares",".SPX":"S&P 500 Index","TQQQ":"纳指三倍做多ETF","SPY":"标普500ETF","IVV":"标普500ETF-iShares","OEF":"标普100指数ETF-iShares","SDS":"两倍做空标普500 ETF-ProShares"},"source_url":"https://wallstreetcn.com/articles/3637798","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2158253720","content_text":"据金融时报，旧金山联储主席Mary Daly表示，鉴于目前经济反弹的力道，美联储可能会在今年底前开始缩减资产购买规模（taper）。\nDaly表示，随着越来越多的人重返工作岗位，消费者支出依然强劲，家庭和商业活动的强劲复苏将继续加速。Daly还认为，开始讨论taper是合适的。\n此前美联储表示，将继续购买抵押贷款支持证券和美国国债，直到通胀率在2%的平均水平徘徊，以及就业目标取得实质性的进一步进展。Daly表示，在今年年底或2022年初可能会达到这些门槛。\n根据美联储官员的说法，经济前景的主要风险是德尔塔变种病毒的传播，但Daly表示，这可能对经济产生的影响有限。她还表示，整体来说，这不会破坏经济的复苏，但是会破坏全球经济的复苏，给美国带来阻力。\n对于通胀问题，Daly表示，受重新开放影响最大的经济部门出现通胀激增的现象，但供需失衡的现象最终将自己得到解决。\n值得注意的是，Daly是美联储公开市场委员会的投票成员，在FOMC会议上有投票权。","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"SDOW":0.9,"PSQ":0.9,"SPXU":0.9,"QQQ":0.9,".IXIC":0.9,"SSO":0.9,"SQQQ":0.9,".DJI":0.9,"UDOW":0.9,"TQQQ":0.9,"ESmain":0.9,"IVV":0.9,"SH":0.9,"QID":0.9,"MNQmain":0.9,"NQmain":0.9,"DDM":0.9,"OEX":0.9,"SPY":0.9,"SDS":0.9,".SPX":0.9,"DOG":0.9,"UPRO":0.9,"DXD":0.9,"DJX":0.9,"QLD":0.9,"OEF":0.9}},"isVote":1,"tweetType":1,"viewCount":2480,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":892693005,"gmtCreate":1628652299807,"gmtModify":1676529810146,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"....","listText":"....","text":"....","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/892693005","repostId":"1199109524","repostType":2,"repost":{"id":"1199109524","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":1628644081,"share":"https://ttm.financial/m/news/1199109524?lang=en_US&edition=fundamental","pubTime":"2021-08-11 09:08","market":"us","language":"zh","title":"Black Swan This Summer: Is the Next Fed Chairman Not Powell?","url":"https://stock-news.laohu8.com/highlight/detail?id=1199109524","media":"华尔街见闻","summary":"进步派民主党人对鲍威尔倾向于放宽2008年金融危机后实施的金融监管感到不满，认为美联储应该由与民主党派更为同步的人来掌管。\n\n周二，华尔街日报援引知情人士报道，拜登经济团队的成员普遍支持美联储主席鲍威","content":"<p>Progressive Democrats are unhappy with Powell's inclination to relax financial regulations imposed after the 2008 financial crisis, arguing that the Fed should be run by someone more in sync with the Democratic party. On Tuesday, the Wall Street Journal reported, citing people familiar with the matter, that members of Biden's economic team generally support Federal Reserve Chairman Powell *, but Powell will likely be replaced due to growing opposition from prominent Democratic senators, including Warren.</p><p>The market believes that Powell's * is the safest choice, warning him that the failure of * may bring risks, because the United States currently has a series of economic problems, including the upcoming vote on the infrastructure spending bill, higher-than-expected inflation rate, and the Delta Mutant strain causes COVID-19 pandemic to rage, etc.</p><p>But some progressive Democrats are dissatisfied with Powell's inclination to relax financial regulations imposed after the 2008 financial crisis, arguing that the Fed should be run by someone more synchronized with the Democratic parties.</p><p>Powell was appointed by former Republican President Trump, and his first term was highly praised by some Democrats because he led the Fed to change its policy priorities and focus more on reducing unemployment. This is consistent with Biden's forceful response to COVID-19 pandemic last year.</p><p>If Powell doesn't get a new four-year term when his term expires next February, the favourite for Fed chair will be Brainard, who was appointed as a Fed governor by former President Barack Obama in 2014.</p><p>Warren neither endorsed Brainard in a recent television interview, but also pointed to her disagreement on regulatory issues under Powell.</p><p>Democrat Sherrod Brown, chairman of the Senate Banking Committee, believes that the Fed's supervision approach should be tougher.</p><p>According to the analysis of economists, Brainard and Powell's monetary policy guidelines are relatively consistent. If she is elected as the chairman of the Federal Reserve, interest rate policy may maintain continuity in the short term. The difference is that Brainard is likely to take a more aggressive approach to financial regulation and may push central banks to adopt digital currencies more quickly.</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>Black Swan This Summer: Is the Next Fed Chairman Not Powell?</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\">\nBlack Swan This Summer: Is the Next Fed Chairman Not Powell?\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\">2021-08-11 09:08</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Progressive Democrats are unhappy with Powell's inclination to relax financial regulations imposed after the 2008 financial crisis, arguing that the Fed should be run by someone more in sync with the Democratic party. On Tuesday, the Wall Street Journal reported, citing people familiar with the matter, that members of Biden's economic team generally support Federal Reserve Chairman Powell *, but Powell will likely be replaced due to growing opposition from prominent Democratic senators, including Warren.</p><p>The market believes that Powell's * is the safest choice, warning him that the failure of * may bring risks, because the United States currently has a series of economic problems, including the upcoming vote on the infrastructure spending bill, higher-than-expected inflation rate, and the Delta Mutant strain causes COVID-19 pandemic to rage, etc.</p><p>But some progressive Democrats are dissatisfied with Powell's inclination to relax financial regulations imposed after the 2008 financial crisis, arguing that the Fed should be run by someone more synchronized with the Democratic parties.</p><p>Powell was appointed by former Republican President Trump, and his first term was highly praised by some Democrats because he led the Fed to change its policy priorities and focus more on reducing unemployment. This is consistent with Biden's forceful response to COVID-19 pandemic last year.</p><p>If Powell doesn't get a new four-year term when his term expires next February, the favourite for Fed chair will be Brainard, who was appointed as a Fed governor by former President Barack Obama in 2014.</p><p>Warren neither endorsed Brainard in a recent television interview, but also pointed to her disagreement on regulatory issues under Powell.</p><p>Democrat Sherrod Brown, chairman of the Senate Banking Committee, believes that the Fed's supervision approach should be tougher.</p><p>According to the analysis of economists, Brainard and Powell's monetary policy guidelines are relatively consistent. If she is elected as the chairman of the Federal Reserve, interest rate policy may maintain continuity in the short term. The difference is that Brainard is likely to take a more aggressive approach to financial regulation and may push central banks to adopt digital currencies more quickly.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/62dafa537afba542bdc43da1b85df8b4","relate_stocks":{"161125":"标普500","513500":"标普500ETF","DXD":"两倍做空道琼30指数ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares",".IXIC":"NASDAQ Composite","SDS":"两倍做空标普500 ETF-ProShares",".SPX":"S&P 500 Index","UDOW":"三倍做多道指30ETF-ProShares","OEX":"标普100","OEF":"标普100指数ETF-iShares","SDOW":"三倍做空道指30ETF-ProShares","DJX":"1/100道琼斯","UPRO":"三倍做多标普500ETF-ProShares","SPXU":"三倍做空标普500ETF-ProShares",".DJI":"道琼斯","IVV":"标普500ETF-iShares","SPY":"标普500ETF","PSQ":"做空纳斯达克100指数ETF-ProShares"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199109524","content_text":"进步派民主党人对鲍威尔倾向于放宽2008年金融危机后实施的金融监管感到不满，认为美联储应该由与民主党派更为同步的人来掌管。\n\n周二，华尔街日报援引知情人士报道，拜登经济团队的成员普遍支持美联储主席鲍威尔连任，但是由于包括沃伦在内的知名民主党参议员的日益反对，鲍威尔将有可能被替换。\n市场认为，鲍威尔连任是最安全的选择，警示他连任失败可能会带来风险，因为美国目前存在一系列的经济难题，包括即将就基建支出法案进行投票、通胀率高于预期、德尔塔变异毒株导致新冠疫情肆虐等。\n但是一些进步派民主党人对鲍威尔倾向于放宽2008年金融危机后实施的金融监管感到不满，认为美联储应该由与民主党派更为同步的人来掌管。\n鲍威尔是由前共和党总统特朗普任命的，他的第一个任期受到了一些民主党人的高度评价，因为他引领美联储改变政策重点，将更多注意力放在了降低失业率上。这与去年拜登对新冠疫情的有力应对一致。\n如果鲍威尔明年2月任期届满时没有获得新一任的四年任期，那么美联储主席的热门人选将是布雷纳德，他于2014年被前总统奥巴马任命为美联储理事。\n沃伦在最近的一次电视采访中既没有支持布雷纳德，又指出了她在鲍威尔任内对监管问题的不同意见。\n参议院银行委员会主席、民主党人Sherrod Brown认为，美联储的监管方式应当更加强硬。\n经济学家分析称，布雷纳德与鲍威尔的货币政策方针较一致，如果她当选美联储主席的话，利率政策在短期内可能会保持连续性。不同的是，布雷纳德可能会在金融监管方面采取更激进的做法，并可能更快推动央行采用数字货币。","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"SDOW":0.9,".DJI":0.9,"DXD":0.9,".IXIC":0.9,"IVV":0.9,"SDS":0.9,".SPX":0.9,"UDOW":0.9,"PSQ":0.9,"DJX":0.9,"MNQmain":0.9,"QLD":0.9,"SPY":0.9,"SPXU":0.9,"OEX":0.9,"NQmain":0.9,"OEF":0.9,"UPRO":0.9}},"isVote":1,"tweetType":1,"viewCount":2252,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":890458381,"gmtCreate":1628129638843,"gmtModify":1703501773689,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":".....","listText":".....","text":".....","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/890458381","repostId":"2157027483","repostType":2,"isVote":1,"tweetType":1,"viewCount":3305,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807607591,"gmtCreate":1628033399813,"gmtModify":1703499815654,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/807607591","repostId":"2156120097","repostType":4,"repost":{"id":"2156120097","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1628028000,"share":"https://ttm.financial/m/news/2156120097?lang=en_US&edition=fundamental","pubTime":"2021-08-04 06:00","market":"us","language":"zh","title":"Lyft achieved adjusted EBITDA profit for the first time, which once rose more than 6% after hours","url":"https://stock-news.laohu8.com/highlight/detail?id=2156120097","media":"老虎资讯综合","summary":"智通财经APP获悉，周二美股盘后，Lyft公布了截至2021年6月30日的二季度财报。因该公司首次实现季度调整后的EBITDA利润，Lyft股价在盘后交易中一度涨逾6%。受到其财报结果提振，Lyft的竞争对手，将于明日盘后公布财报的优步同时上涨超2%。而这一目标的实现比Lyft给出的指引提前了一个季度。二季度调整后的EBITDA利润率为3.1%，去年同期为亏损率82.6%。","content":"<p>After the U.S. stock market closed on Tuesday, August 3, Eastern Time, Lyft<a href=\"https://laohu8.com/S/LYFT\">$(LYFT) $</a>Announced the financial report for the second quarter ended June 30, 2021. Lyft shares rose more than 6% in after-hours trading as the company achieved its first quarterly adjusted EBITDA profit.<img src=\"https://static.tigerbbs.com/ff158a359bbcc3ded406200c3a2fb587\" tg-width=\"1021\" tg-height=\"633\" referrerpolicy=\"no-referrer\">Lyft's second-quarter revenue increased 125% year-on-year to US $765 million, exceeding expectations of US $696 million, compared with US $339 million in the same period last year; The net loss in the second quarter was US $251.9 million, compared with an expected loss of US $236 million, compared with US $437 million in the same period last year; The loss per share in the second quarter was US $0.76, the market expected a loss of US $0.73, and a loss of US $1.41 in the same period last year.</p><p>The net loss margin in the second quarter was 32.9%, compared with 128.8% in the same period last year. Adjusted net loss in the second quarter was $18 million, compared with $265.8 million in the same period last year.</p><p>Lyft's second-quarter adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was $23.8 million, marking the first time the company achieved quarterly adjusted EBITDA profit. The realization of this goal is one quarter ahead of the guidance given by Lyft. The adjusted EBITDA profit margin in the second quarter was 3.1%, compared with a loss margin of 82.6% in the same period last year.</p><p>The company's number of active passengers in the second quarter increased by 97.3% year-on-year to 17.142 million, compared with 8.688 million in the same period last year, and revenue per active passenger increased by 14.3% year-on-year to US $44.63, compared with US $39.06 in the same period last year.</p><p>After the financial report was announced, LYFT's share price once rose by more than 6% after hours. As of press time, the increase narrowed to 1% to $55.94.<img src=\"https://static.tigerbbs.com/3d2626035e5941a06de601bf0508b0fd\" tg-width=\"709\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Lyft achieved adjusted EBITDA profit for the first time, which once rose more than 6% after hours</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\">\nLyft achieved adjusted EBITDA profit for the first time, which once rose more than 6% after hours\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-08-04 06:00</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>After the U.S. stock market closed on Tuesday, August 3, Eastern Time, Lyft<a href=\"https://laohu8.com/S/LYFT\">$(LYFT) $</a>Announced the financial report for the second quarter ended June 30, 2021. Lyft shares rose more than 6% in after-hours trading as the company achieved its first quarterly adjusted EBITDA profit.<img src=\"https://static.tigerbbs.com/ff158a359bbcc3ded406200c3a2fb587\" tg-width=\"1021\" tg-height=\"633\" referrerpolicy=\"no-referrer\">Lyft's second-quarter revenue increased 125% year-on-year to US $765 million, exceeding expectations of US $696 million, compared with US $339 million in the same period last year; The net loss in the second quarter was US $251.9 million, compared with an expected loss of US $236 million, compared with US $437 million in the same period last year; The loss per share in the second quarter was US $0.76, the market expected a loss of US $0.73, and a loss of US $1.41 in the same period last year.</p><p>The net loss margin in the second quarter was 32.9%, compared with 128.8% in the same period last year. Adjusted net loss in the second quarter was $18 million, compared with $265.8 million in the same period last year.</p><p>Lyft's second-quarter adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was $23.8 million, marking the first time the company achieved quarterly adjusted EBITDA profit. The realization of this goal is one quarter ahead of the guidance given by Lyft. The adjusted EBITDA profit margin in the second quarter was 3.1%, compared with a loss margin of 82.6% in the same period last year.</p><p>The company's number of active passengers in the second quarter increased by 97.3% year-on-year to 17.142 million, compared with 8.688 million in the same period last year, and revenue per active passenger increased by 14.3% year-on-year to US $44.63, compared with US $39.06 in the same period last year.</p><p>After the financial report was announced, LYFT's share price once rose by more than 6% after hours. As of press time, the increase narrowed to 1% to $55.94.<img src=\"https://static.tigerbbs.com/3d2626035e5941a06de601bf0508b0fd\" tg-width=\"709\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/35d89b3fc46f659d27a39823b3d20d09","relate_stocks":{"LYFT":"Lyft, Inc."},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2156120097","content_text":"美东时间8月3日周二美股盘后，Lyft$(LYFT)$公布了截至2021年6月30日的二季度财报。因该公司首次实现季度调整后的EBITDA利润，Lyft股价在盘后交易中一度涨逾6%。Lyft二季度营收同比增长125%至7.65亿美元，超过预期的6.96亿美元，去年同期为3.39亿美元；二季度净亏损为2.519亿美元，预期为亏损2.36亿美元，去年同期为4.37亿美元；二季度每股亏损0.76美元，市场预期亏损0.73美元，去年同期亏损1.41美元。\n二季度的净亏损率为32.9%，而去年同期为128.8%。二季度调整后的净亏损为1800万美元，而去年同期为2.658亿美元。\nLyft二季度调整后的EBITDA(税息折旧及摊销前利润)为2380万美元，标志着该公司首次实现了季度调整后的EBITDA利润。而这一目标的实现比Lyft给出的指引提前了一个季度。二季度调整后的EBITDA利润率为3.1%，去年同期为亏损率82.6%。\n公司二季度活跃乘客数同比增加97.3%至1714.2万，去年同期为868.8万，每活跃乘客的收益同比增加14.3%至44.63美元，去年同期为39.06美元。\n财报公布后，LYFT盘后股价一度涨超6%，截至发稿，涨幅缩窄至1%，报55.94美元。","news_type":1,"symbols_score_info":{"LYFT":0.9}},"isVote":1,"tweetType":1,"viewCount":3238,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":804461865,"gmtCreate":1627973004057,"gmtModify":1703498891729,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/804461865","repostId":"2156102521","repostType":4,"repost":{"id":"2156102521","kind":"highlight","weMediaInfo":{"introduction":"关注中国基金报，即时获取深度理财资讯","home_visible":1,"media_name":"中国基金报","id":"6","head_image":"https://static.tigerbbs.com/2b2c79a68beb44c7bc06ad7210091200"},"pubTimestamp":1627970770,"share":"https://ttm.financial/m/news/2156102521?lang=en_US&edition=fundamental","pubTime":"2021-08-03 14:06","market":"hk","language":"zh","title":"Suddenly! A crazy drop of 1.2 million! Is the room in Shenzhen school district really cold?","url":"https://stock-news.laohu8.com/highlight/detail?id=2156102521","media":"中国基金报","summary":"在市场人士看来，这是深圳首次提出“全区试点大学区制”。深圳各区并没有统一的大学区就学规则标准。该片区房价在2019年和2020年都登上深圳各片区二手房价涨幅榜前列，原因只是当地有一所正在建设但并未招生的名校荔园小学东校区。2日，记者前往深圳中学初中部学区进行实地采访。北京西城区教委去年4月30日发布了“7·31”入学新政。10倍大牛股实控人宣布，套现20亿！","content":"<p><div>\"I just spent 4 wallets to buy a school district house. Will it really be'cool '?\" This is the recent trouble of Chen Xi (pseudonym), a \"treasure mother\" in Shenzhen. Since the beginning of this year, cracking down on housing speculation in school districts has become one of the important tasks of regulatory authorities in many places, especially in first-tier cities where high-quality education resources are tight. Recently, the Social Construction Working Committee of the Standing Committee of Shenzhen Municipal People's Congress organized the drafting of the Regulations on Social Construction of Shenzhen Special Economic Zone (Draft for Comment). The Exposure Draft has improved the admission policy and balanced the educational resources, and proposed that Shenzhen and district education departments should implement the enrollment and school-running management mode of university districts. Has been...</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>Suddenly! A crazy drop of 1.2 million! Is the room in Shenzhen school district really cold?</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\">\nSuddenly! A crazy drop of 1.2 million! Is the room in Shenzhen school district really cold?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/6\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/2b2c79a68beb44c7bc06ad7210091200);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">中国基金报 </p>\n<p class=\"h-time smaller\">2021-08-03 14:06</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><div>\"I just spent 4 wallets to buy a school district house. Will it really be'cool '?\" This is the recent trouble of Chen Xi (pseudonym), a \"treasure mother\" in Shenzhen. Since the beginning of this year, cracking down on housing speculation in school districts has become one of the important tasks of regulatory authorities in many places, especially in first-tier cities where high-quality education resources are tight. Recently, the Social Construction Working Committee of the Standing Committee of Shenzhen Municipal People's Congress organized the drafting of the Regulations on Social Construction of Shenzhen Special Economic Zone (Draft for Comment). The Exposure Draft has improved the admission policy and balanced the educational resources, and proposed that Shenzhen and district education departments should implement the enrollment and school-running management mode of university districts. Has been...</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/a5798ae493c14a85b3dc6af918333595","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2156102521","content_text":"“我刚刚拼了4个钱包买的学区房，真的会‘凉’了吗？”这是深圳一位“宝妈”晨曦(化名)最近的烦心事。\n今年以来，打击学区房炒作成为多地监管部门的重要工作之一，优质教育资源紧张的一线城市尤其如此。近日，深圳市人大常委会社会建设工委组织起草了《深圳经济特区社会建设条例（草案征求意见稿）》。征求意见稿针对入学政策进行了完善，并均衡了教育资源，提出深圳市、区教育部门应当推行大学区招生和办学管理模式。\n一直被称为楼市“硬通货”的学区房，还稳吗？\n深圳大学区招生已在部分片区试点\n在公共教育方面，征求意见稿提出推行大学区招生和办学管理模式，建立义务教育学校教师交流制度，健全优质教育资源共建共享机制。\n证券时报记者发现，深圳最早于2015年开始推行大学区制，多个片区早已实施。今年上半年，深圳龙华区教育局修订了龙华区义务教育阶段大学区学校积分入学办法，并就入学积分的标准、深户和非深户在积分上的计算方式、大学区与单片区加分项等方面，向社会公众征集意见。在市场人士看来，这是深圳首次提出“全区试点大学区制”。其中，最受关注的莫过于深圳高级中学(集团)北校区学区房，带学位的小区成交均价早已突破每平方米10万元。以深圳二手房成交参考价为例，水榭春天一期的参考价为每平方米73000元，而带有深圳高级中学(集团)北校区学位的水榭春天五期二手房成交参考价高达每平方米90500元。\n此外，从各区的大学区分布来看，过去多集中在“非核心区”，一些优质学校并没有被划进大学区内。深圳各区并没有统一的大学区就学规则标准。“我把小孩送进了桂园小学，没有选择就近的笋岗小学，虽然每天接送很辛苦，但我觉得桂园小学的环境比较好。”家住罗湖笋岗片区的王莹告诉记者。据悉，罗湖的“笋岗-桂园片区”已实施大学区制，包含片区内的笋岗小学、百草园小学、桂园小学等，但这些学校都不是传统的名校。\n为实现教育质量均衡，近年来深圳推出了许多措施，其中包括推进各大名校集团化办学。不过，一旦新设分校传言流出，资金就闻风而动，福田八卦岭片区就是典型案例。该片区房价在2019年和2020年都登上深圳各片区二手房价涨幅榜前列，原因只是当地有一所正在建设但并未招生的名校荔园小学东校区。\n\n福田八卦岭片区正在建设的荔园小学东校区，正是因为这所正在建设的学校，八卦岭片区房价在2019年和2020年都登上深圳各片区二手房价涨幅榜的前列。\n心态变化 学区房业主主动降价\n“我是去年年底的时候买了深圳中学初中部的学区房，35平方米的‘老破小’花了500多万，现在身边的家长朋友都在讨论，我担心学区房还稳吗？”晨曦最近为了学区房有点心神不定。“隔一条马路，房子新旧程度相当，但房价几乎相差一倍，这就是深圳学区房和非优质学区房的房价差别。”\n学区房有多热？市场各方的心态如何？2日，记者前往深圳中学初中部学区进行实地采访。在短短几百米的贝丽南路两旁，聚集了近10家房地产中介门店，主打的当然是学区房。在记者的调查中，几乎所有的被访者都认为，深圳教育资源依旧紧张，优质基础教育资源就更为紧张，而且均衡程度有待改善。优质学区房是刚需，所以更为保值，也更受投资客的青睐。不过，经过不断升级的楼市调控和教育政策变动，无论是买家还是卖家，“学区房信仰”已开始瓦解。\n“虽然不能说读好的学校就能考出好成绩，但小孩读完书或许能赚到不少钱，能不吸引人吗？”房产中介黄经理说，“不过，今年上半年深圳二手房市场因为出台参考价大幅降温，学区房也受到影响，加之最近关于学区和教育的政策频出，学区房业主的心态已经发生了变化，主动降价的房源越来越多。”\n“带有深圳中学初中部和翠北小学双学位的阳光天地小区，一套74平方米的房源去年最高报价900万元，现在有业主报价780万元，急售，比参考价高一点。”黄经理表示，“尽管如此，有许多客户看房之后也没下手，买家对学区房的看法已经发生变化。”\n\n深圳中学初中部旁，三家房产中介门店密集分布，在一定程度上呈现出学区房之热。\n除此之外，记者在福田八卦岭和园岭片区等新兴和传统优质学区房片区调查时也发现，主动降价的房源越来越多。八卦岭片区的鹏益花园，就有多套房源按照二手房参考价出售，相较之前降幅在10%至20%。\n不过，大学区的推行或许还要注意其带来一些“反面作用”。美联物业全国研究中心总监何倩茹表示，大学区政策在深圳早已试行，此次预计将大面积推广。如果按照目前的大学区招生政策，降房价还是比较困难，或许还会带动原本非该学区的住房价格上升。不过，如果配合其他教育政策，比如入学摇号、教师轮换、修建更多的学校等，教育资源平均分配，将有机会防止学区房的价格乱象出现。“目前而言，学区房的价格看似仍坚挺，但随着时间的推移，是有机会下跌的。”\n为大学区招生落地和破局\n打造“深圳样本”\n那么，深圳的大学区制将会如何推行？多位业内人士认为，大学区制推行后，或由过去的非核心区试点改变为名校学区试点，再到全面推广。此外，建立义务教育学校教师交流制度，让名校的老师流动，学区房现象会自然而然消失，再配合增加学位供应、名校集团化办学，基本实现各区教育均等。\n过去，每一轮楼市大涨，不管一二线或三四线城市，学区房都是上涨领头羊。不过，各地对于学区房的改革正在进行中。\n北京西城区教委去年4月30日发布了“7·31”入学新政。这一政策规定，2020年7月31日后新购房屋或户籍从本市其他区迁入西城区的家庭适龄儿童申请入小学时，将不再对应登记入学划片学校，全部以多校划片方式在学区或相邻学区内入学。近日，该区结束了2021年小学多校划片入学意向填报工作，“7·31”的靴子正式落地。公开信息显示，近段时间以来西城顶尖学区房价出现“松动”，甚至大幅跳水。今年3月，上海市教委公布了《上海市高中阶段学校招生录取改革实施办法》，这是2018年《上海市进一步推进高中阶段学校考试招生制度改革的实施意见》的配套文件，适用于2022年起参加本市高中阶段学校招生录取的考生，此次政策提出了“名额分配综合评价录取”制度。\n据不完全统计，今年以来已有北京、上海、广州、深圳、重庆、西安、厦门、成都、大连、南京、合肥、太原等超过10座城市出手，重拳整治学区房乱象。\n广东省住房政策研究中心首席研究员李宇嘉认为，学区房炒作直接带旺了部分城市楼市。楼市调控政策也要见招拆招，对于学区房调控，在需求端抑制炒作的同时，供给端也要发力。过去，学区房之所以刚性上涨，就在于心理预期，这次打掉预期，最坚硬的房价刚性上涨板块破冰，学区房开始降温。从市场表现看，北京、上海、深圳、合肥等地的学区房价格都有所下降，这是好现象。\n由此可见，深圳需要为大学区招生落地、破局打造“深圳样本”。不过，也有分析人士表示，大学区招生并非一劳永逸，做好配套才能发挥实效，特别是如何均衡大学区间的教育资源配置，这将考验有关部门治理能力。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":2816,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802760443,"gmtCreate":1627808858582,"gmtModify":1703496167503,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/802760443","repostId":"2156169561","repostType":4,"isVote":1,"tweetType":1,"viewCount":3054,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802890911,"gmtCreate":1627744871933,"gmtModify":1703495418402,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/802890911","repostId":"1165085669","repostType":4,"isVote":1,"tweetType":1,"viewCount":1796,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806210282,"gmtCreate":1627657172046,"gmtModify":1703494316968,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Omg","listText":"Omg","text":"Omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/806210282","repostId":"1103612914","repostType":4,"repost":{"id":"1103612914","kind":"news","pubTimestamp":1627656394,"share":"https://ttm.financial/m/news/1103612914?lang=en_US&edition=fundamental","pubTime":"2021-07-30 22:46","market":"us","language":"zh","title":"Ideally going to Hong Kong, it's time for Li Xiang to stop his temper","url":"https://stock-news.laohu8.com/highlight/detail?id=1103612914","media":"AI蓝媒汇","summary":"王兴是理想的第一个“关键先生”，李想则是第二个。\n\n去年7月，理想登陆纳斯达克。时间不到一年，7月26日，理想通过港交所上市聆讯，不久之后，我们将看到理想在港股双重上市。\n在聆讯材料中，创始人李想被称","content":"<p>Wang Xing is the ideal first \"key gentleman\", while Li Xiang is the second. In July last year, Ideal landed on Nasdaq. In less than a year, on July 26, Ideal passed the listing hearing of the Hong Kong Stock Exchange. Soon, we will see Ideal's dual listing on the Hong Kong stock market.</p><p>In the hearing materials, the founder Li Xiang was called \"one of the few successful entrepreneurs in China\". He has successively founded Paopao.com,<a href=\"https://laohu8.com/S/ATHM\">Car Home</a>，<a href=\"https://laohu8.com/S/LI\">Li Auto</a>It is its third venture. These successful experiences in the past have also \"demonstrated Li Xiang's insight, vision, experience and ability as one of the best Internet product managers in China.\"</p><p>Yes, Li Xiang may be a very good product manager. After Ideal went public last year, the market had doubts about Ideal's extended-range technical architecture. Wang Xing supported Li Xiang with a little sales promotion on Fanfou, saying:</p><p>I never try to persuade others to \"buy\" Ideal ONE. I just suggest that they try Ideal ONE, open it, sit it down, and feel it for themselves before making a judgment. Some people have never touched Ideal ONE, and they directly mouth it based on the so-called industry experience/theory/common sense, haha.</p><p>Of course, Wang Xing himself and Meituan are now deeply bound to ideals, and Wang Xing is also known as \"Mr. Key to Ideals\". In the hearing materials, the ideal four major shareholders, Meituan and Wang Xing, occupy two important positions:</p><p>With 13.23% of the equity, Meituan owns 4.21% of Ideal's voting rights; With 6.76% of the equity, Wang Xing owns 2.15% of the voting rights of Ideal.</p><p><img src=\"https://static.tigerbbs.com/d7f0853225b7fb4cf59ed59e03aa5a29\" tg-width=\"692\" tg-height=\"370\" referrerpolicy=\"no-referrer\"></p><p>Li Xiang himself, as the single major shareholder of Ideal, owns 75.74% of Ideal's voting rights with 23.79% of the equity. When Ideal was listed on the U.S. stock market, according to the data disclosed in its prospectus, Li Xiang owned 21.0% of Ideal's shares and 72.7% of the voting rights at that time.</p><p>Among the three new car-making forces \"Wei Xiaoli\", Li Xiang is the founder with the most \"fan effect\". To this day, Li Bin's<a href=\"https://laohu8.com/S/WB\">Weibo</a>With 495,000 fans, He XPeng's<a href=\"https://laohu8.com/S/WB\">Weibo</a>There are 969,000 fans, while Li Xiang's Weibo has 1.869 million fans.</p><p>Of course, this fan effect may not be so good for ideals, such as a nickname of Li Xiang:</p><p>The founder of a car company is the first person to scold the street.</p><p>This nickname is very interesting. To a certain extent, it shows that the brand image of the ideal enterprise has been seriously damaged.</p><p>For example, in April, May, and July in review, three seemingly unrelated things happened in Ideal.</p><p>In April, Li Xiang sent a Weibo, talked about something from the perspective of a third party storytelling, and asked netizens for enlightenment.</p><p><img src=\"https://static.tigerbbs.com/531d871804cbcfa51cc12bb7027912a5\" tg-width=\"719\" tg-height=\"2008\" referrerpolicy=\"no-referrer\"></p><p>The cause of the incident originated from a female reporter who added an ideal engineer from someone's website and asked:</p><p>I heard that May is ideal<a href=\"https://laohu8.com/S/AONE.U\">one</a>The facelifted car is about to be launched. I am curious about what changes the new car has made. Can you ask me?</p><p>Because of this question, the female reporter annoyed the engineer, and he asked:</p><p>I also want to ask you about your X life harmony? Have you unlocked any new XX recently? I would also like to ask you for advice.</p><p>For the ideal employee, \"confidential\" work naturally has its principle. While making vulgar remarks, this engineer also expressed his grievances:</p><p>All the companies that can be said have been announced to the public. Don't ask Xiaobai for such confidential questions. Someone really answered you, and your reading volume has gone up. Have you ever thought about the person who provided information? You don't know what the consequences of leaking secrets?</p><p>Of course, this matter has passed, and there is no need to discuss the right and wrong. In the history of Ideal's development, this is only an inconspicuous case of its public relations crisis, but this matter is not without ripples. In May, another public relations crisis of Ideal was just like the above-mentioned female reporter \"Ideal<a href=\"https://laohu8.com/S/AONE.U\">one</a>Related to \"facelift car\".</p><p>At that time, some netizens defended their rights on Weibo and posted various banners posted on the body of Ideal ONE, such as:</p><p>Car enthusiasts talk about their feelings with Ideal, and Ideal treats car enthusiasts as fools! Ideal ONE has no conscience in fraudulent sales and abandons loyal fans!</p><p><img src=\"https://static.tigerbbs.com/e6eb469e68da66b0b9c2534977fae4a4\" tg-width=\"692\" tg-height=\"513\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/155449407a22b4c40e73939c81a8e7de\" tg-width=\"692\" tg-height=\"518\" referrerpolicy=\"no-referrer\"></p><p>The cause of this incident was that on May 25, Ideal released and launched the new Ideal ONE. From the price point of view, the price of the new Ideal ONE has been raised by 10,000 yuan, in exchange for upgrades in the software, hardware and configuration of the assisted driving system.</p><p>The crux of the problem is that many ideal users don't know this news. Users who have already ordered cars and picked up cars recently think that ideal sales have deceived them. Some car owners said:</p><p>It's normal to upgrade, but it's wrong to hide the need to upgrade and sell us the old model.</p><p>Some car owners began to speak out through various channels, such as Li Xiang's Weibo, Ideal APP, car owner group and after-sales customer service, but they experienced operations such as ignoring and \"being removed from group chat\". After the car owners \"had no way to defend their rights\", they spontaneously formed a rights protection group, and an ideal car owner who is a lawyer gave Ideal a lawyer's letter. What is \"excessive\" is that in the screenshots circulating on the Internet, some car owners even expressed their very \"uncle\" appeal to the ideal after-sales service:</p><p>Help me slap Li Xiang.</p><p><img src=\"https://static.tigerbbs.com/acadfdf4dde0b88fd6fc23a56725d5a8\" tg-width=\"695\" tg-height=\"612\" referrerpolicy=\"no-referrer\"></p><p>In fact, the damage of the ideal brand has something to do with Li Xiang himself. In the past news, Li Xiang had even more news points than his ideal.</p><p>In July, a car owner released a video showing that there was suspected mercury between the seat gaps of the Ideal ONE, and the dose was considerable. As a toxic substance, the official explanation given by Ideal is:</p><p>Ideal ONE does not use mercury in product design, raw material selection, manufacturing, transportation and delivery, and the vehicle fully complies with the \"Requirements for Prohibited Substances in Automobiles\" (GB/T 30612-2014) and the requirements related to hazardous substances such as EU ELV.</p><p><img src=\"https://static.tigerbbs.com/7cb53fd3d2d43aebd55893ee2e05fb44\" tg-width=\"692\" tg-height=\"237\" referrerpolicy=\"no-referrer\"></p><p>However, what made Ideal deeply involved in the \"Mercury Gate\" incident was not the official attitude of Ideal, but a Weibo of Li Xiang himself. On July 5th, Li Xiang angrily denounced in Weibo:</p><p>Those who spread rumors about our mercury and the media, I wish you mercury in your blood and mercury in your mind!</p><p><img src=\"https://static.tigerbbs.com/2e70a0f678807dac6bdb1c6a7b163488\" tg-width=\"550\" tg-height=\"327\" referrerpolicy=\"no-referrer\"></p><p>Li Xiang sent this Weibo three times. Finally, this Weibo was deleted by Li Xiang.</p><p>This wave of operations also pushed Li Xiang to the forefront. In Weibo's comment area, some netizens commented on Li Xiang like this:</p><p>Sanctimonious, full of lies, and deceiving consumers.</p><p>Such an image, frankly speaking, is very serious for the CEO of a listed company. In fact, Li Xiang lost his temper not once or twice. He is also one of the rare CEOs who scolded the media directly. If you have watched a program \"Winning in China's Blue Sky and Clear Water\" that Li Xiang participated in in 2013, you should be able to understand Li Xiang's temper.</p><p>In this program, as<a href=\"https://laohu8.com/S/ATHM\">Car Home</a>Li Xiang, the founder and president, was furious on the spot because of insufficient preparation for the contract and said:</p><p>The contract is not printed properly, and I have to print my resume. What are I doing? My head is flooded.</p><p><img src=\"https://static.tigerbbs.com/22b1803a41fb098fcf8f0bf2a3fb96f4\" tg-width=\"709\" tg-height=\"523\" referrerpolicy=\"no-referrer\"></p><p>After the \"Mercury Gate\" incident, some netizens said that Li Xiang had expanded. After experiencing the trough period of new energy vehicles, the report card delivered by Ideal is actually not bad. It was mentioned in the hearing materials that from the mass production of Ideal ONE in November 2019 to June 30, 2021,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Delivered more than 63,000 Ideal ONE vehicles.</p><p>According to the CIC Consulting report, according to sales statistics, Ideal ONE was rated as the best-selling new energy SUV model in China in 2020, accounting for 9.7% of the market share; At the same time in<a href=\"https://laohu8.com/S/600617\">National New Energy</a>The automobile market ranks sixth, accounting for 2.8% of the market share; Li Auto Yuzhong<a href=\"https://laohu8.com/S/600617\">National New Energy</a>Car brands ranked eleventh.</p><p>It is worth noting that in the delivery rankings of new car-making forces, in May, the ideal delivery volume was 4,323 vehicles, ranking only fourth. In June, the ideal delivery volume reached 6,565 units, exceeding<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>, only ranked in<a href=\"https://laohu8.com/S/NIO\">Nio</a>Under.</p><p>At the same time, the ideal revenue data is constantly climbing the stairs. Ideal's revenue in 2019, 2020 and the first quarter of 2021 was 284 million yuan, 9.457 billion yuan and 3.575 billion yuan respectively. In the same period last year, this figure was still 852 million yuan.</p><p><img src=\"https://static.tigerbbs.com/d971fd2311c9185d972828dca2646e24\" tg-width=\"692\" tg-height=\"795\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>With such a report card, Ideal is going to the Hong Kong stock market.</p><p>Today, the ideal market value has reached 27.84 billion U.S. dollars, and the progress bar of the dream of a market value of 100 billion U.S. dollars has passed a quarter.</p><p>But the ideal still faces many problems. In the hearing materials, one of the key risk factors mentioned by Ideal is that up to now, Ideal still relies on a single model to bring in revenue, and in the foreseeable future, the number of models that bring in revenue is limited.</p><p>In some discussions about ideals, some car owners said:</p><p>When will Ideal TWO be released?</p><p>In addition, the problems faced by Ideal also include the impact of the founder's words and deeds on the brand that were not mentioned in the hearing materials.</p><p>We consulted some car owners, and an ideal car owner said:</p><p>The point is still on the car, as long as it is easy to drive.</p><p>When referring to past ideals and some \"news\" of Li Xiang, the car owner who also helped others buy ideals on Weibo said he didn't know.</p><p>But at the same time, some consumers said that because of some remarks, they were shaken in whether to choose their ideals when buying their \"first car in life\".</p><p>In the capital market, this reaction may be more obvious, and this impact may directly affect stocks.</p><p>As for why in the \"news\" of these months, the sales volume of Ideal still increased in June, a car owner in Shanghai said it was hard to say, but he also told us a reason for choosing Ideal:</p><p>Among the cars priced at 300,000 yuan, only Ideal can get a green license.</p><p>Li Xiang's own bad temper and \"scolding the street\" image can't help but worry investors. Whether such traffic is beneficial to the ideal brand image and the ideal high-end is still open to question.</p><p>In the future, Li Xiang may be the key to whether he can lead the inflated ideal into the 100 billion dollar mark. Of course, what I'm talking about has nothing to do with strategy.</p>","source":"lmh","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>Ideally going to Hong Kong, it's time for Li Xiang to stop his temper</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\">\nIdeally going to Hong Kong, it's time for Li Xiang to stop his temper\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">AI蓝媒汇</strong><span class=\"h-time small\">2021-07-30 22:46</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Wang Xing is the ideal first \"key gentleman\", while Li Xiang is the second. In July last year, Ideal landed on Nasdaq. In less than a year, on July 26, Ideal passed the listing hearing of the Hong Kong Stock Exchange. Soon, we will see Ideal's dual listing on the Hong Kong stock market.</p><p>In the hearing materials, the founder Li Xiang was called \"one of the few successful entrepreneurs in China\". He has successively founded Paopao.com,<a href=\"https://laohu8.com/S/ATHM\">Car Home</a>，<a href=\"https://laohu8.com/S/LI\">Li Auto</a>It is its third venture. These successful experiences in the past have also \"demonstrated Li Xiang's insight, vision, experience and ability as one of the best Internet product managers in China.\"</p><p>Yes, Li Xiang may be a very good product manager. After Ideal went public last year, the market had doubts about Ideal's extended-range technical architecture. Wang Xing supported Li Xiang with a little sales promotion on Fanfou, saying:</p><p>I never try to persuade others to \"buy\" Ideal ONE. I just suggest that they try Ideal ONE, open it, sit it down, and feel it for themselves before making a judgment. Some people have never touched Ideal ONE, and they directly mouth it based on the so-called industry experience/theory/common sense, haha.</p><p>Of course, Wang Xing himself and Meituan are now deeply bound to ideals, and Wang Xing is also known as \"Mr. Key to Ideals\". In the hearing materials, the ideal four major shareholders, Meituan and Wang Xing, occupy two important positions:</p><p>With 13.23% of the equity, Meituan owns 4.21% of Ideal's voting rights; With 6.76% of the equity, Wang Xing owns 2.15% of the voting rights of Ideal.</p><p><img src=\"https://static.tigerbbs.com/d7f0853225b7fb4cf59ed59e03aa5a29\" tg-width=\"692\" tg-height=\"370\" referrerpolicy=\"no-referrer\"></p><p>Li Xiang himself, as the single major shareholder of Ideal, owns 75.74% of Ideal's voting rights with 23.79% of the equity. When Ideal was listed on the U.S. stock market, according to the data disclosed in its prospectus, Li Xiang owned 21.0% of Ideal's shares and 72.7% of the voting rights at that time.</p><p>Among the three new car-making forces \"Wei Xiaoli\", Li Xiang is the founder with the most \"fan effect\". To this day, Li Bin's<a href=\"https://laohu8.com/S/WB\">Weibo</a>With 495,000 fans, He XPeng's<a href=\"https://laohu8.com/S/WB\">Weibo</a>There are 969,000 fans, while Li Xiang's Weibo has 1.869 million fans.</p><p>Of course, this fan effect may not be so good for ideals, such as a nickname of Li Xiang:</p><p>The founder of a car company is the first person to scold the street.</p><p>This nickname is very interesting. To a certain extent, it shows that the brand image of the ideal enterprise has been seriously damaged.</p><p>For example, in April, May, and July in review, three seemingly unrelated things happened in Ideal.</p><p>In April, Li Xiang sent a Weibo, talked about something from the perspective of a third party storytelling, and asked netizens for enlightenment.</p><p><img src=\"https://static.tigerbbs.com/531d871804cbcfa51cc12bb7027912a5\" tg-width=\"719\" tg-height=\"2008\" referrerpolicy=\"no-referrer\"></p><p>The cause of the incident originated from a female reporter who added an ideal engineer from someone's website and asked:</p><p>I heard that May is ideal<a href=\"https://laohu8.com/S/AONE.U\">one</a>The facelifted car is about to be launched. I am curious about what changes the new car has made. Can you ask me?</p><p>Because of this question, the female reporter annoyed the engineer, and he asked:</p><p>I also want to ask you about your X life harmony? Have you unlocked any new XX recently? I would also like to ask you for advice.</p><p>For the ideal employee, \"confidential\" work naturally has its principle. While making vulgar remarks, this engineer also expressed his grievances:</p><p>All the companies that can be said have been announced to the public. Don't ask Xiaobai for such confidential questions. Someone really answered you, and your reading volume has gone up. Have you ever thought about the person who provided information? You don't know what the consequences of leaking secrets?</p><p>Of course, this matter has passed, and there is no need to discuss the right and wrong. In the history of Ideal's development, this is only an inconspicuous case of its public relations crisis, but this matter is not without ripples. In May, another public relations crisis of Ideal was just like the above-mentioned female reporter \"Ideal<a href=\"https://laohu8.com/S/AONE.U\">one</a>Related to \"facelift car\".</p><p>At that time, some netizens defended their rights on Weibo and posted various banners posted on the body of Ideal ONE, such as:</p><p>Car enthusiasts talk about their feelings with Ideal, and Ideal treats car enthusiasts as fools! Ideal ONE has no conscience in fraudulent sales and abandons loyal fans!</p><p><img src=\"https://static.tigerbbs.com/e6eb469e68da66b0b9c2534977fae4a4\" tg-width=\"692\" tg-height=\"513\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/155449407a22b4c40e73939c81a8e7de\" tg-width=\"692\" tg-height=\"518\" referrerpolicy=\"no-referrer\"></p><p>The cause of this incident was that on May 25, Ideal released and launched the new Ideal ONE. From the price point of view, the price of the new Ideal ONE has been raised by 10,000 yuan, in exchange for upgrades in the software, hardware and configuration of the assisted driving system.</p><p>The crux of the problem is that many ideal users don't know this news. Users who have already ordered cars and picked up cars recently think that ideal sales have deceived them. Some car owners said:</p><p>It's normal to upgrade, but it's wrong to hide the need to upgrade and sell us the old model.</p><p>Some car owners began to speak out through various channels, such as Li Xiang's Weibo, Ideal APP, car owner group and after-sales customer service, but they experienced operations such as ignoring and \"being removed from group chat\". After the car owners \"had no way to defend their rights\", they spontaneously formed a rights protection group, and an ideal car owner who is a lawyer gave Ideal a lawyer's letter. What is \"excessive\" is that in the screenshots circulating on the Internet, some car owners even expressed their very \"uncle\" appeal to the ideal after-sales service:</p><p>Help me slap Li Xiang.</p><p><img src=\"https://static.tigerbbs.com/acadfdf4dde0b88fd6fc23a56725d5a8\" tg-width=\"695\" tg-height=\"612\" referrerpolicy=\"no-referrer\"></p><p>In fact, the damage of the ideal brand has something to do with Li Xiang himself. In the past news, Li Xiang had even more news points than his ideal.</p><p>In July, a car owner released a video showing that there was suspected mercury between the seat gaps of the Ideal ONE, and the dose was considerable. As a toxic substance, the official explanation given by Ideal is:</p><p>Ideal ONE does not use mercury in product design, raw material selection, manufacturing, transportation and delivery, and the vehicle fully complies with the \"Requirements for Prohibited Substances in Automobiles\" (GB/T 30612-2014) and the requirements related to hazardous substances such as EU ELV.</p><p><img src=\"https://static.tigerbbs.com/7cb53fd3d2d43aebd55893ee2e05fb44\" tg-width=\"692\" tg-height=\"237\" referrerpolicy=\"no-referrer\"></p><p>However, what made Ideal deeply involved in the \"Mercury Gate\" incident was not the official attitude of Ideal, but a Weibo of Li Xiang himself. On July 5th, Li Xiang angrily denounced in Weibo:</p><p>Those who spread rumors about our mercury and the media, I wish you mercury in your blood and mercury in your mind!</p><p><img src=\"https://static.tigerbbs.com/2e70a0f678807dac6bdb1c6a7b163488\" tg-width=\"550\" tg-height=\"327\" referrerpolicy=\"no-referrer\"></p><p>Li Xiang sent this Weibo three times. Finally, this Weibo was deleted by Li Xiang.</p><p>This wave of operations also pushed Li Xiang to the forefront. In Weibo's comment area, some netizens commented on Li Xiang like this:</p><p>Sanctimonious, full of lies, and deceiving consumers.</p><p>Such an image, frankly speaking, is very serious for the CEO of a listed company. In fact, Li Xiang lost his temper not once or twice. He is also one of the rare CEOs who scolded the media directly. If you have watched a program \"Winning in China's Blue Sky and Clear Water\" that Li Xiang participated in in 2013, you should be able to understand Li Xiang's temper.</p><p>In this program, as<a href=\"https://laohu8.com/S/ATHM\">Car Home</a>Li Xiang, the founder and president, was furious on the spot because of insufficient preparation for the contract and said:</p><p>The contract is not printed properly, and I have to print my resume. What are I doing? My head is flooded.</p><p><img src=\"https://static.tigerbbs.com/22b1803a41fb098fcf8f0bf2a3fb96f4\" tg-width=\"709\" tg-height=\"523\" referrerpolicy=\"no-referrer\"></p><p>After the \"Mercury Gate\" incident, some netizens said that Li Xiang had expanded. After experiencing the trough period of new energy vehicles, the report card delivered by Ideal is actually not bad. It was mentioned in the hearing materials that from the mass production of Ideal ONE in November 2019 to June 30, 2021,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Delivered more than 63,000 Ideal ONE vehicles.</p><p>According to the CIC Consulting report, according to sales statistics, Ideal ONE was rated as the best-selling new energy SUV model in China in 2020, accounting for 9.7% of the market share; At the same time in<a href=\"https://laohu8.com/S/600617\">National New Energy</a>The automobile market ranks sixth, accounting for 2.8% of the market share; Li Auto Yuzhong<a href=\"https://laohu8.com/S/600617\">National New Energy</a>Car brands ranked eleventh.</p><p>It is worth noting that in the delivery rankings of new car-making forces, in May, the ideal delivery volume was 4,323 vehicles, ranking only fourth. In June, the ideal delivery volume reached 6,565 units, exceeding<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>, only ranked in<a href=\"https://laohu8.com/S/NIO\">Nio</a>Under.</p><p>At the same time, the ideal revenue data is constantly climbing the stairs. Ideal's revenue in 2019, 2020 and the first quarter of 2021 was 284 million yuan, 9.457 billion yuan and 3.575 billion yuan respectively. In the same period last year, this figure was still 852 million yuan.</p><p><img src=\"https://static.tigerbbs.com/d971fd2311c9185d972828dca2646e24\" tg-width=\"692\" tg-height=\"795\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>With such a report card, Ideal is going to the Hong Kong stock market.</p><p>Today, the ideal market value has reached 27.84 billion U.S. dollars, and the progress bar of the dream of a market value of 100 billion U.S. dollars has passed a quarter.</p><p>But the ideal still faces many problems. In the hearing materials, one of the key risk factors mentioned by Ideal is that up to now, Ideal still relies on a single model to bring in revenue, and in the foreseeable future, the number of models that bring in revenue is limited.</p><p>In some discussions about ideals, some car owners said:</p><p>When will Ideal TWO be released?</p><p>In addition, the problems faced by Ideal also include the impact of the founder's words and deeds on the brand that were not mentioned in the hearing materials.</p><p>We consulted some car owners, and an ideal car owner said:</p><p>The point is still on the car, as long as it is easy to drive.</p><p>When referring to past ideals and some \"news\" of Li Xiang, the car owner who also helped others buy ideals on Weibo said he didn't know.</p><p>But at the same time, some consumers said that because of some remarks, they were shaken in whether to choose their ideals when buying their \"first car in life\".</p><p>In the capital market, this reaction may be more obvious, and this impact may directly affect stocks.</p><p>As for why in the \"news\" of these months, the sales volume of Ideal still increased in June, a car owner in Shanghai said it was hard to say, but he also told us a reason for choosing Ideal:</p><p>Among the cars priced at 300,000 yuan, only Ideal can get a green license.</p><p>Li Xiang's own bad temper and \"scolding the street\" image can't help but worry investors. Whether such traffic is beneficial to the ideal brand image and the ideal high-end is still open to question.</p><p>In the future, Li Xiang may be the key to whether he can lead the inflated ideal into the 100 billion dollar mark. Of course, what I'm talking about has nothing to do with strategy.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/1S3hOTihp9jJ6dlJx80c0A\">AI蓝媒汇</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/8843ee5d72c93e2911b6a263ef27f796","relate_stocks":{"LI":"理想汽车","02015":"理想汽车-W"},"source_url":"https://mp.weixin.qq.com/s/1S3hOTihp9jJ6dlJx80c0A","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103612914","content_text":"王兴是理想的第一个“关键先生”，李想则是第二个。\n\n去年7月，理想登陆纳斯达克。时间不到一年，7月26日，理想通过港交所上市聆讯，不久之后，我们将看到理想在港股双重上市。\n在聆讯材料中，创始人李想被称为“中国为数不多接连取得成功的创业家”，他曾先后创立泡泡网、汽车之家，理想汽车是其第三次创业。过去的这些成功经历，也都“彰显出李想作为中国最佳互联网产品经理之一的洞见、视野、经验及能力”。\n是的，李想可能是一个很牛的产品经理。去年理想上市后，市场曾对理想增程式技术架构有质疑，王兴在饭否上带着点推销的意思力挺李想，说：\n我从来不试图说服别人“买”理想ONE，我只是建议他们试一下理想ONE，开一开，坐一坐，自己感受一下再做判断。有些人碰都没碰过理想ONE，仅凭所谓行业经验/理论/常识就直接唱衰，呵呵。\n当然，王兴本人和美团现在和理想都是深度绑定的关系，王兴也被称作“理想的关键先生”。在聆讯材料中，理想的4个主要股东，美团和王兴就占据了两个重要位置：\n美团以13.23%的股权，拥有理想4.21%的投票权；王兴以6.76%的股权，拥有理想2.15%的投票权。\n\n李想本人则作为理想的单一大股东，以23.79%的股权，拥有理想75.74%的投票权。当初理想在美股上市时，根据其招股书中披露的数据，当时李想拥有理想21.0%的股权、72.7%的投票权。\n在“蔚小理”三家造车新势力中，李想是最具有“粉丝效应”的一位创始人。时至今日，李斌的微博有49.5万粉丝，何小鹏的微博有96.9万粉丝，而李想的微博，则有186.9万粉丝。\n当然，这种粉丝效应对理想可能并没有那么利好，比如李想的一个外号：\n车企创始人骂街第一人。\n这个外号很有意思，一定程度上表明了理想这家企业，其品牌形象已受损严重。\n比如我们复盘下4月、5月、7月，理想分别发生了三件看起来没什么关联的事。\n4月份时，李想发了一条微博，以第三者讲故事的角度，谈了一件事，并请求网友赐教。\n\n事件的起因，源于一位女记者从某人脉网站上加了一位理想的工程师，并问了一句：\n听说5月份理想one的改款车就要上市了，比较好奇新车都有哪些变化，可否请教一下？\n因为这个问题，该女记者惹恼了这位工程师，他反问道：\n我也想和你请教一下你的X生活和谐吗？最近有没有解锁什么新XX，也想和你请教一下。\n对于理想的员工来说，“保密”工作自然有其原则性，这位工程师在发表粗俗言论的同时，也表达了自己的怨气：\n能说的公司都对外宣布了，这种涉密的问题不要再找小白问了，真有人回答了你们，你们阅读量是上去了，想过提供信息的人吗？泄漏机密什么后果你不清楚？\n当然，这件事已经过去了，其中是非也不用太多讨论了。在理想的发展史中，这只是其公关危机案例中不起眼的一件，但这件事情也并非没有涟漪，5月份时，理想的另一场公关危机，就跟上述女记者提到的“理想one的改款车”有关。\n当时，有网友在微博上维权，发布多张在理想ONE车身上贴着的各种横幅，比如：\n车友跟理想谈情怀，理想把车友当傻子！理想ONE没有良心的欺诈销售，抛弃忠实粉丝！\n\n这起事件的起因是5月25日，理想发布并上市了新款理想ONE。从售价看，新款理想ONE售价上调了1万元，换来的是辅助驾驶系统软硬件和配置上的升级。\n问题的关键在于，不少的理想用户并不知道这一消息，已经订车以及提车不久的用户认为理想的销售欺骗了他们，有车主表示：\n升级换代很正常，但是隐瞒要升级换代，把旧款卖给我们就不对。\n有车主们开始通过各种渠道去发声，譬如在李想的微博、理想APP、车主群以及售后客服，但却经历了不理会以及“被移出群聊”等操作。在车主们“维权无门”后，他们自发组建维权群，并由一名律师职业的理想车主，送给了理想一发律师函。很“过分”的是，在网上流传的截图中，甚至有车主向理想的售后表达了自己一个很“大爷”的诉求：\n你帮我扇李想。\n\n事实上，理想的品牌受损，跟李想本人也有一定的关系。在过去的新闻中，李想身上的新闻点甚至比理想还要多。\n7月份时，有车主发布视频显示，理想ONE的座椅缝隙间疑似有水银，而且剂量可观。作为一种有毒物质，理想官方给出的解释是：\n理想ONE在产品设计、原材料选择、生产制造、运输及交付环节均未使用到水银，车辆完全符合《汽车禁用物质要求》（GB/T 30612-2014）及欧盟ELV等有害物质相关要求。\n\n但让理想深陷“水银门”事件的，却并非理想官方的态度，而是李想本人的一条微博。7月5日，李想在微博怒斥：\n造谣我们用水银的人和媒体，祝愿你们血液里流动着汞，脑子里装满了汞！\n\n这条微博，李想发了三遍。最后，这条微博还是被李想删掉了。\n这波操作，也将李想推上风口浪尖。微博的评论区中，有网友这样评价李想：\n道貌岸然、满嘴谎言、欺瞒消费者。\n这样的形象，对于一家上市企业的CEO，坦白说，很严重了。李想发脾气其实不是一次两次了，他也是少有的非常直性子地骂媒体的一位CEO。如果你看过李想在2013年参加的一档《赢在中国蓝天碧水间》的节目，应该能对李想的脾气有所了解。\n在这档节目中，彼时作为汽车之家创始人兼总裁的李想，因为合同准备不足，扯着嗓门现场发飙说：\n合同没打印好，还要我打印简历，在干什么，脑袋进水了。\n\n“水银门”事件后，有网友说李想膨胀了。经历过新能源汽车的低谷期后，理想交的成绩单其实还不错。在本次聆讯资料中提到，从2019年11月量产理想ONE，截至到2021年6月30日，理想汽车交付逾63000辆理想ONE。\n根据灼识咨询报告，按销量统计，理想ONE于2020年被评为中国最畅销的新能源SUV车型，占市场份额9.7%；同时于中国新能源汽车市场排名第六，占市场份额2.8%；理想汽车于中国新能源汽车品牌排名第十一。\n值得注意的是，在造车新势力的交付排行榜中，5月份时，理想的交付量为4323辆，仅排在第四。6月份时，理想的交付量就到了6565辆，超过了小鹏汽车，仅排在蔚来之下。\n与此同时，理想营收数据也在不断地爬台阶。理想2019年、2020年以及2021年第一季度的营收分别为2.84亿元、94.57亿元和35.75亿元，去年同期，这个数据还是8.52亿元。\n\n带着这样一份成绩单，理想要奔赴港股了。\n今天，理想的市值已经到了278.4亿美元，千亿美元市值梦的进度条已经走过了四分之一。\n但理想仍然面临着诸多问题。在聆讯资料中，理想提到的风险因素，很关键的一条是，截止到目前，理想仍然依赖单一车型带来收入，而且在可预见的未来，带来收入的车型数量有限。\n在关于理想的一些讨论中，有车主说：\n理想TWO什么时候出？\n除此之外，理想面临的问题还包括未在聆讯资料中提及的，关于创始人的言行对品牌的影响。\n我们咨询了一些车主，有理想车主表示：\n重点还是在于车，好开就行了。\n在提及过往理想以及李想的一些“新闻”时，这位在微博上还安利别人买理想的车主表示并不知晓。\n但同时，也有消费者表示，因为某些言论，使他在购买“人生第一台车”时是否选择理想产生了动摇。\n在资本市场，这种反应可能更明显，这种影响，可能会直接作用在股票上。\n至于为何在这几个月的“新闻”中，理想的销量在6月份仍然实现了上涨，一位上海的车主表示不好说，但他同时告诉我们选择理想的一个原因：\n在30万价位的车中，只有理想能上绿牌。\n李想本人的暴脾气以及“骂街”形象，也不由地让投资者引起担忧，这样的流量对理想品牌形象以及对理想的高端化是否有利也有待商榷。\n未来，能否带领膨胀的理想迈入千亿美元大关，李想可能是关键。当然，我说的跟战略无关。","news_type":1,"symbols_score_info":{"02015":0.9,"LI":0.9}},"isVote":1,"tweetType":1,"viewCount":3449,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803872920,"gmtCreate":1627434057060,"gmtModify":1703489821472,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Omg","listText":"Omg","text":"Omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/803872920","repostId":"1121684255","repostType":4,"repost":{"id":"1121684255","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627424128,"share":"https://ttm.financial/m/news/1121684255?lang=en_US&edition=fundamental","pubTime":"2021-07-28 06:15","market":"us","language":"zh","title":"Apple's earnings report once again surprised four, all indicators exceeded expectations, and the stock price fell back after hours","url":"https://stock-news.laohu8.com/highlight/detail?id=1121684255","media":"老虎资讯综合","summary":"苹果于周二美股盘后发布2021财年三季报（即2021自然年第二季度业绩），季度成绩惊艳四座，各项数据均超过市场预期。营收创历史新高，净利润同比接近翻倍，iPhone销售同比激增近50%，服务收入再创历","content":"<p>Apple released its third quarter report for fiscal year 2021 (that is, the second quarter results for the natural year of 2021) after the U.S. stock market closed on Tuesday. The quarterly results were amazing, and all data exceeded market expectations. Revenue hit a record high, net profit nearly doubled year-on-year, iPhone sales surged nearly 50% year-on-year, and service revenue hit a record high again. But Apple CEO Cook said in a conference call: The chip shortage has greatly affected the sales of Mac and iPad, otherwise this quarter would be better. In addition, tight chip supply and high transportation costs will put pressure on subsequent performance.</p><p>Apple's stock price fell back from a high level, closing down 1.5% on Tuesday at US $146.77. After hours, the stock price turned from rising to falling, falling 1.48% as of press time. The company's market value still exceeds US $2.4 trillion, ranking first in the US market value.<img src=\"https://static.tigerbbs.com/b1c7358d4f1168881c8071a7e50cd849\" tg-width=\"1542\" tg-height=\"1438\" referrerpolicy=\"no-referrer\"><a href=\"https://laohu8.com/RN?name=RNLive&rndata={\"liveId\":\"16272656629834\"}\" target=\"_blank\"><b>Apple FY2021Q3 results conference call</b></a><b></b></p><p>Details of fiscal third quarter results:</p><p><ul><li>Total revenue was US $81.4 billion, a year-on-year increase of 36%, far exceeding market expectations of US $73.8 billion, creating the best third-quarter revenue in the company's history</li><li>Net profit was US $21.744 billion, a year-on-year increase of 93%, and diluted earnings per share (EPS) was US $1.30, doubling year-on-year, which was also higher than market expectations of US $1.01.</li><li>Among them, hardware product revenue was US $63.95 billion, higher than market expectations of US $58.18 billion; Revenue from the service business was US $17.49 billion, a record high for two consecutive quarters, a year-on-year increase of 33%<b>，</b>It was higher than analysts' expectations of $16.32 billion and higher than the growth rate of 26.7% in the previous fiscal quarter;</li><li>Quarterly gross profit margin was 43.3%, which was also higher than the expected 41.9%; Quarterly operating profit was $24.126 billion, up from $13.091 billion in the same period last year.</li></ul><b>In terms of product lines, Apple has achieved double-digit percentage year-on-year revenue growth in all product categories for three consecutive quarters, while the iPhone is not weak in the off-season;</b><img src=\"https://static.tigerbbs.com/4645adcd3f7499969d904dd8973cb926\" tg-width=\"1026\" tg-height=\"318\" referrerpolicy=\"no-referrer\"></p><p><ul><li>iPhone revenue in the quarter was US $39.57 billion, a year-on-year increase of 49.78%, exceeding market expectations of US $34.5 billion;</li><li>iPad revenue in the quarter was US $7.37 billion, a year-on-year increase of 12%, higher than market expectations of US $7.13 billion.</li><li>Mac revenue in the quarter was US $8.24 billion, a year-on-year increase of 16%, higher than market expectations of US $8 billion, but worse than the record high of US $9.1 billion in the first quarter.</li><li>Revenue from wearable devices, household goods and peripheral products in the quarter was US $8.78 billion, a year-on-year increase of 36%, higher than the expected US $7.6 billion.</li></ul><img src=\"https://static.tigerbbs.com/7bb1355a6d1dba7fdb82e2f1080709ed\" tg-width=\"826\" tg-height=\"600\" referrerpolicy=\"no-referrer\"></p><p><ul><li>The net revenue of the much-watched service business was US $17.486 billion, compared with US $13.156 billion in the same period last year, a year-on-year increase of 33%. This growth rate was higher than the 26.7% increase in the previous quarter.</li></ul><img src=\"https://static.tigerbbs.com/bf345163556353fb6796cb26a428fc67\" tg-width=\"500\" tg-height=\"291\" referrerpolicy=\"no-referrer\">In terms of regions, Apple achieved double-digit percentage growth in all regions in the same third fiscal quarter, and its Greater China region performed strongly, with a year-on-year increase of 58%:</p><p><ul><li>Net revenue from the Americas market was US $35.870 billion, compared with US $27.018 billion in the same period last year;</li><li>Net revenue from the European market was US $18.943 billion, compared with US $14.173 billion in the same period last year;</li><li>Net revenue in Greater China was US $14.762 billion, compared with US $9.329 billion in the same period last year, a year-on-year increase of 58%;</li><li>Net revenue in Japan was US $6.464 billion, compared with US $4.966 billion in the same period last year;</li><li>Net revenue in the rest of Asia-Pacific was US $5.395 billion, compared with US $4.199 billion in the same period last year.<img src=\"https://static.tigerbbs.com/ce16bed953b733de1347a9e299d82745\" tg-width=\"1020\" tg-height=\"332\" referrerpolicy=\"no-referrer\"></li></ul>In addition, Apple's board of directors announced a cash Dividend of $0.22 per share. Apple spent $29 billion on shareholder returns in the quarter, the statement showed. CFO Mestri revealed that the company has repurchased nearly $450 billion in shares in recent years.</p><p>It is worth noting that Apple did not include performance guidance for the next quarter in its financial report. It is the sixth consecutive quarter since the epidemic that it has not issued guidance. The company expects revenue in the next fiscal quarter to remain a \"very strong double-digit percentage year-on-year growth rate.\", but may be slower than the third fiscal quarter. CFO Mestri expects iPhone and iPad supply to be constrained and growth to slow in the next quarter.</p><p>Cook said: Apple can do better this quarter if it can solve the problems related to the chip shortage, which has greatly affected Mac and iPad sales. Tight chip supplies could affect its iPhone and iPad sales in September, although the chips in short supply are \"legacy nodes\" of older kinds of chips, not the processors that power Apple devices. Cook also said in a conference call with analysts that the company believes freight costs are high.</p><p>When explaining Apple's next growth engine-service revenue, Cook revealed that sub-businesses such as music, video, cloud services, advertising and payments have all hit new highs, \"showing that our long-term investment in service strategy is succeeding.\" Apple currently has 700 million paid subscribers, 150 million more than the same period last year, but this data includes the number of people who subscribe to an app through its app store.</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>Apple's earnings report once again surprised four, all indicators exceeded expectations, and the stock price fell back after hours</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\">\nApple's earnings report once again surprised four, all indicators exceeded expectations, and the stock price fell back after hours\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-07-28 06:15</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Apple released its third quarter report for fiscal year 2021 (that is, the second quarter results for the natural year of 2021) after the U.S. stock market closed on Tuesday. The quarterly results were amazing, and all data exceeded market expectations. Revenue hit a record high, net profit nearly doubled year-on-year, iPhone sales surged nearly 50% year-on-year, and service revenue hit a record high again. But Apple CEO Cook said in a conference call: The chip shortage has greatly affected the sales of Mac and iPad, otherwise this quarter would be better. In addition, tight chip supply and high transportation costs will put pressure on subsequent performance.</p><p>Apple's stock price fell back from a high level, closing down 1.5% on Tuesday at US $146.77. After hours, the stock price turned from rising to falling, falling 1.48% as of press time. The company's market value still exceeds US $2.4 trillion, ranking first in the US market value.<img src=\"https://static.tigerbbs.com/b1c7358d4f1168881c8071a7e50cd849\" tg-width=\"1542\" tg-height=\"1438\" referrerpolicy=\"no-referrer\"><a href=\"https://laohu8.com/RN?name=RNLive&rndata={\"liveId\":\"16272656629834\"}\" target=\"_blank\"><b>Apple FY2021Q3 results conference call</b></a><b></b></p><p>Details of fiscal third quarter results:</p><p><ul><li>Total revenue was US $81.4 billion, a year-on-year increase of 36%, far exceeding market expectations of US $73.8 billion, creating the best third-quarter revenue in the company's history</li><li>Net profit was US $21.744 billion, a year-on-year increase of 93%, and diluted earnings per share (EPS) was US $1.30, doubling year-on-year, which was also higher than market expectations of US $1.01.</li><li>Among them, hardware product revenue was US $63.95 billion, higher than market expectations of US $58.18 billion; Revenue from the service business was US $17.49 billion, a record high for two consecutive quarters, a year-on-year increase of 33%<b>，</b>It was higher than analysts' expectations of $16.32 billion and higher than the growth rate of 26.7% in the previous fiscal quarter;</li><li>Quarterly gross profit margin was 43.3%, which was also higher than the expected 41.9%; Quarterly operating profit was $24.126 billion, up from $13.091 billion in the same period last year.</li></ul><b>In terms of product lines, Apple has achieved double-digit percentage year-on-year revenue growth in all product categories for three consecutive quarters, while the iPhone is not weak in the off-season;</b><img src=\"https://static.tigerbbs.com/4645adcd3f7499969d904dd8973cb926\" tg-width=\"1026\" tg-height=\"318\" referrerpolicy=\"no-referrer\"></p><p><ul><li>iPhone revenue in the quarter was US $39.57 billion, a year-on-year increase of 49.78%, exceeding market expectations of US $34.5 billion;</li><li>iPad revenue in the quarter was US $7.37 billion, a year-on-year increase of 12%, higher than market expectations of US $7.13 billion.</li><li>Mac revenue in the quarter was US $8.24 billion, a year-on-year increase of 16%, higher than market expectations of US $8 billion, but worse than the record high of US $9.1 billion in the first quarter.</li><li>Revenue from wearable devices, household goods and peripheral products in the quarter was US $8.78 billion, a year-on-year increase of 36%, higher than the expected US $7.6 billion.</li></ul><img src=\"https://static.tigerbbs.com/7bb1355a6d1dba7fdb82e2f1080709ed\" tg-width=\"826\" tg-height=\"600\" referrerpolicy=\"no-referrer\"></p><p><ul><li>The net revenue of the much-watched service business was US $17.486 billion, compared with US $13.156 billion in the same period last year, a year-on-year increase of 33%. This growth rate was higher than the 26.7% increase in the previous quarter.</li></ul><img src=\"https://static.tigerbbs.com/bf345163556353fb6796cb26a428fc67\" tg-width=\"500\" tg-height=\"291\" referrerpolicy=\"no-referrer\">In terms of regions, Apple achieved double-digit percentage growth in all regions in the same third fiscal quarter, and its Greater China region performed strongly, with a year-on-year increase of 58%:</p><p><ul><li>Net revenue from the Americas market was US $35.870 billion, compared with US $27.018 billion in the same period last year;</li><li>Net revenue from the European market was US $18.943 billion, compared with US $14.173 billion in the same period last year;</li><li>Net revenue in Greater China was US $14.762 billion, compared with US $9.329 billion in the same period last year, a year-on-year increase of 58%;</li><li>Net revenue in Japan was US $6.464 billion, compared with US $4.966 billion in the same period last year;</li><li>Net revenue in the rest of Asia-Pacific was US $5.395 billion, compared with US $4.199 billion in the same period last year.<img src=\"https://static.tigerbbs.com/ce16bed953b733de1347a9e299d82745\" tg-width=\"1020\" tg-height=\"332\" referrerpolicy=\"no-referrer\"></li></ul>In addition, Apple's board of directors announced a cash Dividend of $0.22 per share. Apple spent $29 billion on shareholder returns in the quarter, the statement showed. CFO Mestri revealed that the company has repurchased nearly $450 billion in shares in recent years.</p><p>It is worth noting that Apple did not include performance guidance for the next quarter in its financial report. It is the sixth consecutive quarter since the epidemic that it has not issued guidance. The company expects revenue in the next fiscal quarter to remain a \"very strong double-digit percentage year-on-year growth rate.\", but may be slower than the third fiscal quarter. CFO Mestri expects iPhone and iPad supply to be constrained and growth to slow in the next quarter.</p><p>Cook said: Apple can do better this quarter if it can solve the problems related to the chip shortage, which has greatly affected Mac and iPad sales. Tight chip supplies could affect its iPhone and iPad sales in September, although the chips in short supply are \"legacy nodes\" of older kinds of chips, not the processors that power Apple devices. Cook also said in a conference call with analysts that the company believes freight costs are high.</p><p>When explaining Apple's next growth engine-service revenue, Cook revealed that sub-businesses such as music, video, cloud services, advertising and payments have all hit new highs, \"showing that our long-term investment in service strategy is succeeding.\" Apple currently has 700 million paid subscribers, 150 million more than the same period last year, but this data includes the number of people who subscribe to an app through its app store.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/052d0d3a6389985cf72883e9c3047ae4","relate_stocks":{"AAPL":"苹果"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1121684255","content_text":"苹果于周二美股盘后发布2021财年三季报（即2021自然年第二季度业绩），季度成绩惊艳四座，各项数据均超过市场预期。营收创历史新高，净利润同比接近翻倍，iPhone销售同比激增近50%，服务收入再创历史新高。但苹果CEO库克却在电话会中称：芯片短缺问题很大程度影响了Mac和iPad的销售，否则本季度会更好。此外，芯片供应紧张和运输费用过高会给后续业绩造成压力。\n苹果股价高位回落，周二收跌1.5%，报146.77美元，盘后股价由涨转跌，截止发稿跌1.48%，公司市值仍超2.4万亿美元，稳居美市值之冠。苹果FY2021Q3业绩电话会\n第三财季业绩详情：\n\n总营收814亿美元，同比增36%，远超市场预期的738亿美元，创公司史上最佳第三财季营收\n净利润217.44亿美元，同比增长93%，摊薄后每股收益（EPS）1.30美元，同比翻倍，也高于市场预期的1.01美元。\n其中，硬件产品营收639.5亿美元，高于市场预期的581.8亿美元；来自服务业务营收174.9亿美元，连续两个季度历史新高，同比增33%，高于分析师预期的163.2亿美元，也高于上一财季的增速26.7%；\n季度毛利率为43.3%，同样高于预期的41.9%；季度运营利润为241.26亿美元，高于去年同期的130.91亿美元。\n\n分产品线来看，苹果连续三个季度在所有产品类别上均实现了双位数百分比的同比营收涨幅，而iPhone淡季不淡；\n\n当季iPhone营收395.7亿美元，同比劲增49.78%，超过市场预期的345亿美元；\n当季iPad营收73.7亿美元，同比增12%，高于市场预期的71.3亿美元。\n当季Mac营收82.4亿美元，同比增16%，高于市场预期的80亿美元，但逊于一季度91亿美元所创的历史最高。\n当季可穿戴设备、居家用品及周边产品营收87.8亿美元，同比增36%，高于预期的76亿美元。\n\n\n\n备受关注的服务业务净营收为174.86亿美元，相比之下去年同期为131.56亿美元，同比增长33%，这个一增速高于上一季度26.7%增幅。\n\n分地区看，同样第三财季苹果在所有地区实现了双位数百分比的增幅，其大中华地区表现强劲，同比增长58%：\n\n来自美洲市场的净营收为358.70亿美元，相比之下去年同期为270.18亿美元；\n来自欧洲市场净营收为189.43亿美元，相比之下去年同期为141.73亿美元；\n大中华区净营收为147.62亿美元，相比之下去年同期为93.29亿美元，同比增幅达58%；\n日本区净营收为64.64亿美元，相比之下去年同期为49.66亿美元；\n亚太其他地区净营收为53.95亿美元，相比之下去年同期为41.99亿美元。\n\n此外，苹果董事会宣布派发每股0.22美元的现金股息。声明显示，苹果在该季度股东回报上花费了290亿美元。CFO梅斯特里透露，该公司近年来回购了近4500亿美元的股票。\n值得注意的是，苹果在财报中并没有下季度业绩指引，是疫情以来连续第六个季度没有发布指引，公司预计下一财季营收仍是“非常强劲的两位数百分比同比增速”，但可能会慢于第三财季。CFO梅斯特里预计下一个季度iPhone和iPad的供应将会受限，增长将放缓。\n库克称：如果能解决芯片短缺有关的问题，苹果本季度可以做得更好，芯片短缺极大程度影响了Mac和iPad的销售。芯片供应紧张可能会影响其9月份的iPhone和iPad销售，尽管短缺的芯片是旧种类芯片的 \"遗留节点\"，而不是为苹果设备提供动力的处理器。库克在与分析师的电话会议上还表示，该公司认为货运成本很高。\n在解释苹果的下一个增长引擎——服务收入时，库克透露，音乐、视频、云服务、广告和支付等分项业务均创新高，“显示我们对服务战略的长期投资正在取得成功”。苹果目前拥有7亿付费订阅用户，比去年同期多出1.5 亿，不过该数据包括通过其应用商店订阅某款app的人数。","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":1789,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174191324,"gmtCreate":1627084343368,"gmtModify":1703483842451,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Omg","listText":"Omg","text":"Omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/174191324","repostId":"1129536436","repostType":4,"isVote":1,"tweetType":1,"viewCount":2696,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172781915,"gmtCreate":1626994517937,"gmtModify":1703481891593,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Omg","listText":"Omg","text":"Omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/172781915","repostId":"1178083534","repostType":4,"repost":{"id":"1178083534","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626991424,"share":"https://ttm.financial/m/news/1178083534?lang=en_US&edition=fundamental","pubTime":"2021-07-23 06:03","market":"us","language":"zh","title":"Intel's second-quarter financial report exceeded expectations, rose more than 3% after hours and then turned down","url":"https://stock-news.laohu8.com/highlight/detail?id=1178083534","media":"老虎资讯综合","summary":"美东时间7月22日周四美股盘后，按收入计算的美国最大芯片制造商英特尔发布了2021财年二季度财报。尽管二季度财报和提供的下季度及全年指引均利好，英特尔盘后一度涨超3%，随后转跌并跌超2%。这可能是由于","content":"<p>After the U.S. stock market closed on Thursday, July 22, Eastern Time, the largest U.S. chip manufacturer by revenue<a href=\"https://laohu8.com/S/INTC\">Intel</a>Released the financial report for the second quarter of fiscal year 2021. Despite the positive second-quarter financial report and the guidance provided for the next quarter and full-year, Intel once rose by more than 3% after hours, and then turned down and fell by more than 2%. This may be due to the fact that the closely watched data center revenue is still down 9% year-on-year, and the expected third-quarter revenue is slightly lower than expected.</p><p>Some analysts also said that the adjusted non-GAAP financial report data was \"just in line with market expectations\" and did not provide too many surprises to boost the stock price. After all, Intel is still stuck in the \"quagmire\" of production bottlenecks and delayed release of next-generation advanced process products.</p><p>Intel closed down 0.5% on Thursday at less than $56, falling from a one-week high.<img src=\"https://static.tigerbbs.com/1e44b1f5b13edeceec07010bb6d667de\" tg-width=\"692\" tg-height=\"529\" referrerpolicy=\"no-referrer\"><b>Both revenue and profit in the second quarter increased year-on-year, and the market originally expected a decline, raising the full-year revenue guidance to year-on-year growth</b></p><p>The financial report shows that Intel's adjusted quarterly revenue was US $18.5 billion, a year-on-year increase of 2%, and US $700 million more than the company's previously issued official guidance. This is equivalent to Intel's revenue exceeding expectations for ten consecutive quarters. The market once thought that adjusted revenue was US $17.8 billion, representing a year-on-year decline of nearly 2%.</p><p>The unadjusted quarterly revenue was US $19.6 billion, a slight decrease of 0.6% year-on-year. Some commentators said that Intel sold its flash memory manufacturing business to SK Hynix last year, and this part of the revenue is usually stripped from the financial report analysis.</p><p>Adjusted quarterly EPS of $1.28 per share also exceeded the company's official guidance by $0.23 and increased 4% year-over-year. The market had expected $1.07, representing a 13% decline from $1.23 a year earlier.<img src=\"https://static.tigerbbs.com/54a380ec9f26ad798d138d536762dad0\" tg-width=\"640\" tg-height=\"275\" referrerpolicy=\"no-referrer\">Intel said that in addition to revenue and EPS exceeding official guidance, gross profit margin was also better than previously expected to 59.2%, a year-on-year increase of nearly 3%, and recorded a record second-quarter personal computer PC business revenue and<a href=\"https://laohu8.com/S/MBLY\">Mobileye</a>Division revenue.</p><p>The company also raised its full-year earnings guidance for fiscal year 2021, expecting revenue under GAAP to be US $77.6 billion, compared with the company's previous estimate of US $77 billion.<b>Non-GAAP revenue is expected to be $73.5 billion, the company previously expected $72.5 billion, and analysts expected $73.1 billion, which also represents year-on-year growth</b>。 It expects EPS under GAAP to be $4.09 per share and non-GAAP EPS to be $4.80 per share. The latter company previously expected $4.60 and analysts expected $4.62.<img src=\"https://static.tigerbbs.com/188db5648a869808eaffe51754e2dcda\" tg-width=\"500\" tg-height=\"266\" referrerpolicy=\"no-referrer\"></p><p>At the same time, the company expects adjusted EPS in the third quarter to be earnings per share of US $1.10, which is also higher than analysts' expectations of US $1.08; Revenue in the third quarter is expected to be US $19.1 billion, and adjusted revenue will be approximately US $18.2 billion, slightly lower than analysts' expectations of US $18.27 billion.</p><p>Pat Gelsinger, CEO of Intel, who pushed for the development of chip foundry manufacturing business after taking up his new post in February this year, said that the second-quarter results showed that the company's momentum was gaining and its execution was improving. The digitalization process in various industries continues to accelerate, creating huge growth opportunities for Intel and its customers in core and emerging business areas. \"I believe this is the beginning of a ten-year growth period for the entire semiconductor industry.\"</p><p><b>PC and Mobileye businesses hit the highest revenue in the second quarter, but data center revenue continues to decline year-on-year</b></p><p><b>In terms of business,</b>Intel's Client Computing Division (CCG), which includes personal computer chips, was US $10.1 billion, a year-on-year increase of 6%, a record high in the second quarter and higher than market expectations of about US $10 billion. Last year, it increased by 8% year-on-year and hit a record high, significantly benefiting from the demand for home office and remote classes under the COVID-19 pandemic.</p><p>Data Center Division (DCG), which focuses on providing chips for cloud computing and server manufacturers, had revenue of US $6.5 billion, a year-on-year decrease of 9% and a month-on-month increase of 16%, better than market expectations of approximately US $5.9 billion or a year-on-year decrease of 18%. Last year, it increased by 11% year-on-year to a new high.</p><p>The analysis pointed out that from competitors<a href=\"https://laohu8.com/S/AMD\">AMD</a>And<a href=\"https://laohu8.com/S/NVDA\">Nvidia</a>Against the backdrop of a surge in pressure and worrying delays in the release of advanced process chip products,<b>Investors are closely watching whether Intel's data center outlook and market share are dragged down.</b></p><p>Currently, Nvidia, which specializes in designing graphics processing chip GPUs, is entering data center CPUs. Last year, it surpassed Intel to become the most valuable chip manufacturer in the United States. In April this year, when Intel disclosed that data center revenue in the first quarter plummeted by 20% year-on-year and AMD's similar business doubled, Intel fell by more than 9% after hours, and its stock price has fallen by 14% since the release of the first quarter report.</p><p>In the Internet of Things business unit, the Internet of Things Group (IOTG) 's revenue in the second quarter was US $984 million, a year-on-year surge of 47%, and the market expected it to be US $9; Mobileye, an artificial intelligence-based autonomous driving business, doubled its quarterly revenue and surged 124%, hitting a record high of US $327 million in the second quarter, but it was lower than the US $360 million expected by some analysts. Mobileye's revenue increased by 10% year-on-year to a new high last year.</p><p>In addition, the revenue of the Non-Volatile Storage Solutions Division (NSG) in the second quarter was US $1.1 billion, a year-on-year decrease of 34%, but higher than analysts' expectations of US $690 million. Last year, it increased by 23% year-on-year to a record high. The revenue of the Programmable Solutions Division (PSG) was US $486 million, a year-on-year decrease of 3%.</p><p><img src=\"https://static.tigerbbs.com/4c296d4a684062b9b88a5635caee35b7\" tg-width=\"640\" tg-height=\"240\" referrerpolicy=\"no-referrer\"></p><p>Intel said,<b>Overall second-quarter revenue exceeded guidance provided by the company in April, mainly driven by continued strength in the PC CCG segment and strong recovery in the enterprise segments in the Internet of Things (IOTG) and Data Center segments (DCG)</b>, PC platform sales increased by 33% year-on-year in the quarter, and Mobileye won 10 additional design bids to provide full life cycle technical support for more devices.</p><p><b>Intel stock performs far underperforming competitors as market focuses on expansion and transformation plans under new CEO</b></p><p>In terms of stock price performance, if today's after-hours downward trend continues, it is equivalent to Intel's three after-hours declines after the release of financial reports in the past four quarters. Its stock price fell by more than 12% in the second quarter of this year. During the same period, the Dow Jones Industrial Average, which accommodates it as one of the constituent stocks, rose by 4.6%, the S&P 500 Index rose by more than 8%, the Nasdaq Index, which is mostly technology stocks, rose by 9.5%, and the Philadelphia Semiconductor Index rose by more than 7%.</p><p>Statistics show that as the epidemic has pushed up the demand for chips in cars, laptops and game consoles, the stock prices of most chip manufacturers have soared in the past 12 months. Intel has fallen by more than 9% instead of rising, and competitor Nvidia has risen by more than 80%., AMD rose more than 50%. This is mainly due to Wall Street's short-term bearish view of Intel, which has hurt its stock price due to production mistakes and losing market share to competitors.</p><p>Looking ahead, the market will pay close attention to the transformation strategy given by Intel's management, and CEO Gelsinger is expected to announce more details later this month.</p><p>On the one hand, data center revenue continues to decline year-on-year, which means that Intel continues to lose market share and even its technological leadership. At the same time, the chip shortage will also drag down its sales. Gelsinger once believed that the shortage would last beyond 2022.<b>Company executives said on the earnings conference call: \"The chip shortage problem is expected to bottom out in the second half of this year, but it will take 1-2 years for the chip industry to fully restore production capacity.\"</b></p><p>Earlier this year, Gelsinger announced that it would create a new $20 billion foundry business to manufacture chips for other companies, and additional capacity expansion in the United States and overseas is also in the planning stage. Companies may also benefit from funding bills planned by the U.S. Congress and the Biden administration to enhance domestic chip manufacturing capabilities.</p><p>Last week, some media said that Intel was considering acquiring GlobalFoundries, the world's fourth largest chip foundry, from the Abu Dhabi government's sovereign wealth fund for about US $30 billion. If reached, it will be the largest acquisition in the company's history, and Intel will also become a full-stack supplier in the chip field, not only chips on PCs, but also key fields such as 5G, Internet of Things, and electric vehicles.</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>Intel's second-quarter financial report exceeded expectations, rose more than 3% after hours and then turned down</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\">\nIntel's second-quarter financial report exceeded expectations, rose more than 3% after hours and then turned down\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-07-23 06:03</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>After the U.S. stock market closed on Thursday, July 22, Eastern Time, the largest U.S. chip manufacturer by revenue<a href=\"https://laohu8.com/S/INTC\">Intel</a>Released the financial report for the second quarter of fiscal year 2021. Despite the positive second-quarter financial report and the guidance provided for the next quarter and full-year, Intel once rose by more than 3% after hours, and then turned down and fell by more than 2%. This may be due to the fact that the closely watched data center revenue is still down 9% year-on-year, and the expected third-quarter revenue is slightly lower than expected.</p><p>Some analysts also said that the adjusted non-GAAP financial report data was \"just in line with market expectations\" and did not provide too many surprises to boost the stock price. After all, Intel is still stuck in the \"quagmire\" of production bottlenecks and delayed release of next-generation advanced process products.</p><p>Intel closed down 0.5% on Thursday at less than $56, falling from a one-week high.<img src=\"https://static.tigerbbs.com/1e44b1f5b13edeceec07010bb6d667de\" tg-width=\"692\" tg-height=\"529\" referrerpolicy=\"no-referrer\"><b>Both revenue and profit in the second quarter increased year-on-year, and the market originally expected a decline, raising the full-year revenue guidance to year-on-year growth</b></p><p>The financial report shows that Intel's adjusted quarterly revenue was US $18.5 billion, a year-on-year increase of 2%, and US $700 million more than the company's previously issued official guidance. This is equivalent to Intel's revenue exceeding expectations for ten consecutive quarters. The market once thought that adjusted revenue was US $17.8 billion, representing a year-on-year decline of nearly 2%.</p><p>The unadjusted quarterly revenue was US $19.6 billion, a slight decrease of 0.6% year-on-year. Some commentators said that Intel sold its flash memory manufacturing business to SK Hynix last year, and this part of the revenue is usually stripped from the financial report analysis.</p><p>Adjusted quarterly EPS of $1.28 per share also exceeded the company's official guidance by $0.23 and increased 4% year-over-year. The market had expected $1.07, representing a 13% decline from $1.23 a year earlier.<img src=\"https://static.tigerbbs.com/54a380ec9f26ad798d138d536762dad0\" tg-width=\"640\" tg-height=\"275\" referrerpolicy=\"no-referrer\">Intel said that in addition to revenue and EPS exceeding official guidance, gross profit margin was also better than previously expected to 59.2%, a year-on-year increase of nearly 3%, and recorded a record second-quarter personal computer PC business revenue and<a href=\"https://laohu8.com/S/MBLY\">Mobileye</a>Division revenue.</p><p>The company also raised its full-year earnings guidance for fiscal year 2021, expecting revenue under GAAP to be US $77.6 billion, compared with the company's previous estimate of US $77 billion.<b>Non-GAAP revenue is expected to be $73.5 billion, the company previously expected $72.5 billion, and analysts expected $73.1 billion, which also represents year-on-year growth</b>。 It expects EPS under GAAP to be $4.09 per share and non-GAAP EPS to be $4.80 per share. The latter company previously expected $4.60 and analysts expected $4.62.<img src=\"https://static.tigerbbs.com/188db5648a869808eaffe51754e2dcda\" tg-width=\"500\" tg-height=\"266\" referrerpolicy=\"no-referrer\"></p><p>At the same time, the company expects adjusted EPS in the third quarter to be earnings per share of US $1.10, which is also higher than analysts' expectations of US $1.08; Revenue in the third quarter is expected to be US $19.1 billion, and adjusted revenue will be approximately US $18.2 billion, slightly lower than analysts' expectations of US $18.27 billion.</p><p>Pat Gelsinger, CEO of Intel, who pushed for the development of chip foundry manufacturing business after taking up his new post in February this year, said that the second-quarter results showed that the company's momentum was gaining and its execution was improving. The digitalization process in various industries continues to accelerate, creating huge growth opportunities for Intel and its customers in core and emerging business areas. \"I believe this is the beginning of a ten-year growth period for the entire semiconductor industry.\"</p><p><b>PC and Mobileye businesses hit the highest revenue in the second quarter, but data center revenue continues to decline year-on-year</b></p><p><b>In terms of business,</b>Intel's Client Computing Division (CCG), which includes personal computer chips, was US $10.1 billion, a year-on-year increase of 6%, a record high in the second quarter and higher than market expectations of about US $10 billion. Last year, it increased by 8% year-on-year and hit a record high, significantly benefiting from the demand for home office and remote classes under the COVID-19 pandemic.</p><p>Data Center Division (DCG), which focuses on providing chips for cloud computing and server manufacturers, had revenue of US $6.5 billion, a year-on-year decrease of 9% and a month-on-month increase of 16%, better than market expectations of approximately US $5.9 billion or a year-on-year decrease of 18%. Last year, it increased by 11% year-on-year to a new high.</p><p>The analysis pointed out that from competitors<a href=\"https://laohu8.com/S/AMD\">AMD</a>And<a href=\"https://laohu8.com/S/NVDA\">Nvidia</a>Against the backdrop of a surge in pressure and worrying delays in the release of advanced process chip products,<b>Investors are closely watching whether Intel's data center outlook and market share are dragged down.</b></p><p>Currently, Nvidia, which specializes in designing graphics processing chip GPUs, is entering data center CPUs. Last year, it surpassed Intel to become the most valuable chip manufacturer in the United States. In April this year, when Intel disclosed that data center revenue in the first quarter plummeted by 20% year-on-year and AMD's similar business doubled, Intel fell by more than 9% after hours, and its stock price has fallen by 14% since the release of the first quarter report.</p><p>In the Internet of Things business unit, the Internet of Things Group (IOTG) 's revenue in the second quarter was US $984 million, a year-on-year surge of 47%, and the market expected it to be US $9; Mobileye, an artificial intelligence-based autonomous driving business, doubled its quarterly revenue and surged 124%, hitting a record high of US $327 million in the second quarter, but it was lower than the US $360 million expected by some analysts. Mobileye's revenue increased by 10% year-on-year to a new high last year.</p><p>In addition, the revenue of the Non-Volatile Storage Solutions Division (NSG) in the second quarter was US $1.1 billion, a year-on-year decrease of 34%, but higher than analysts' expectations of US $690 million. Last year, it increased by 23% year-on-year to a record high. The revenue of the Programmable Solutions Division (PSG) was US $486 million, a year-on-year decrease of 3%.</p><p><img src=\"https://static.tigerbbs.com/4c296d4a684062b9b88a5635caee35b7\" tg-width=\"640\" tg-height=\"240\" referrerpolicy=\"no-referrer\"></p><p>Intel said,<b>Overall second-quarter revenue exceeded guidance provided by the company in April, mainly driven by continued strength in the PC CCG segment and strong recovery in the enterprise segments in the Internet of Things (IOTG) and Data Center segments (DCG)</b>, PC platform sales increased by 33% year-on-year in the quarter, and Mobileye won 10 additional design bids to provide full life cycle technical support for more devices.</p><p><b>Intel stock performs far underperforming competitors as market focuses on expansion and transformation plans under new CEO</b></p><p>In terms of stock price performance, if today's after-hours downward trend continues, it is equivalent to Intel's three after-hours declines after the release of financial reports in the past four quarters. Its stock price fell by more than 12% in the second quarter of this year. During the same period, the Dow Jones Industrial Average, which accommodates it as one of the constituent stocks, rose by 4.6%, the S&P 500 Index rose by more than 8%, the Nasdaq Index, which is mostly technology stocks, rose by 9.5%, and the Philadelphia Semiconductor Index rose by more than 7%.</p><p>Statistics show that as the epidemic has pushed up the demand for chips in cars, laptops and game consoles, the stock prices of most chip manufacturers have soared in the past 12 months. Intel has fallen by more than 9% instead of rising, and competitor Nvidia has risen by more than 80%., AMD rose more than 50%. This is mainly due to Wall Street's short-term bearish view of Intel, which has hurt its stock price due to production mistakes and losing market share to competitors.</p><p>Looking ahead, the market will pay close attention to the transformation strategy given by Intel's management, and CEO Gelsinger is expected to announce more details later this month.</p><p>On the one hand, data center revenue continues to decline year-on-year, which means that Intel continues to lose market share and even its technological leadership. At the same time, the chip shortage will also drag down its sales. Gelsinger once believed that the shortage would last beyond 2022.<b>Company executives said on the earnings conference call: \"The chip shortage problem is expected to bottom out in the second half of this year, but it will take 1-2 years for the chip industry to fully restore production capacity.\"</b></p><p>Earlier this year, Gelsinger announced that it would create a new $20 billion foundry business to manufacture chips for other companies, and additional capacity expansion in the United States and overseas is also in the planning stage. Companies may also benefit from funding bills planned by the U.S. Congress and the Biden administration to enhance domestic chip manufacturing capabilities.</p><p>Last week, some media said that Intel was considering acquiring GlobalFoundries, the world's fourth largest chip foundry, from the Abu Dhabi government's sovereign wealth fund for about US $30 billion. If reached, it will be the largest acquisition in the company's history, and Intel will also become a full-stack supplier in the chip field, not only chips on PCs, but also key fields such as 5G, Internet of Things, and electric vehicles.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c74be4c2a08964ef2daf32217f693b44","relate_stocks":{"03086":"华夏纳指","09086":"华夏纳指-U","INTC":"英特尔"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1178083534","content_text":"美东时间7月22日周四美股盘后，按收入计算的美国最大芯片制造商英特尔发布了2021财年二季度财报。尽管二季度财报和提供的下季度及全年指引均利好，英特尔盘后一度涨超3%，随后转跌并跌超2%。这可能是由于备受关注的数据中心收入仍同比下跌9%，以及三季度预期营收略跌于预期。\n也有分析称，经调整后非GAAP的财报数据“只是符合市场预期”，没有提供太多的惊喜来提振股价，毕竟英特尔当前还陷在生产瓶颈和下一代先进制程产品延迟发布的“泥沼”中。\n英特尔周四收跌0.5%，报收不足56美元，从一周新高回落。二季度营收和盈利均同比增长，市场原本预期下滑，提升全年营收指引至同比增长\n财报显示，英特尔经调整后的季度营收为185亿美元，同比增长2%，也比公司此前发布的官方指引多出7亿美元。这等于英特尔连续十个季度营收超预期，市场曾认为调整后营收为178亿美元，代表同比下滑近2%。\n而未调整前的季度营收为196亿美元，同比微跌0.6%。有评论称，英特尔去年出售其闪存制造业务给韩国的SK海力士，这部分收入通常从财报分析中剥离。\n经调整后的季度EPS为每股收益1.28美元，也比公司的官方指引高出0.23美元，同比增长4%。市场曾预期为1.07美元，代表较去年同期的1.23美元下跌13%。英特尔表示，除了营收和EPS超出官方指引，毛利率也好于此前预期至59.2%，同比上升近3%，并录得创纪录的二季度个人电脑PC业务收入和Mobileye部门收入。\n公司还提升2021财年全年的盈利指引，预计GAAP项下的营收为776亿美元，此前公司预计为770亿美元。预计非GAAP的营收为735亿美元，公司此前预计为725亿美元，分析师预期为731亿美元，这也代表将实现同比增长。预计GAAP项下的EPS为每股收益4.09美元，非GAAP的EPS为每股收益4.80美元，后者公司此前预计为4.60美元，分析师预期为4.62美元。\n同时，公司预计三季度调整后EPS为每股收益1.10美元，同样高于分析师预期的1.08美元；预计三季度营收191亿美元，调整后营收约为182亿美元，略低于分析师预期的182.7亿美元。\n今年2月履新后力推开拓芯片代工制造业务的英特尔首席执行官Pat Gelsinger表示，二季度业绩表明公司势头正在增强、执行力正在提高。各行各业的数字化进程继续加速，为英特尔及其客户在核心和新兴业务领域创造了巨大的增长机会，“相信这是整个半导体行业十年增长期的开始。”\n个人电脑和Mobileye业务创二季度营收最高，但数据中心收入持续同比下滑\n分业务来看，包括个人电脑芯片在内的英特尔客户端计算事业部（CCG）101亿美元，同比增长6%，创二季度新高纪录，也高于市场预期的约100亿美元。去年全年曾同比增8%并创历史最高，显著受益于新冠疫情下的居家办公和远程上课需求。\n专注为云计算和服务器制造商提供芯片的数据中心事业部（DCG）营收65亿美元，同比下跌9%，环比增长16%，好于市场预期的约59亿美元或同比下降18%。去年全年同比增11%至新高。\n分析指出，在来自竞争对手AMD和英伟达的压力激增，以及令人担忧的先进制程芯片产品不断延迟发布的背景下，投资者密切关注英特尔的数据中心前景和市场份额是否受到拖累。\n当前，专门设计图形处理芯片GPU的英伟达正在进军数据中心CPU，去年超过英特尔成为美国市值最高的芯片商。而在今年4月，当英特尔披露一季度数据中心营收同比骤降20%、AMD的同类业务翻倍时，英特尔曾盘后跌超9%，而且一季报发布至今股价累跌14%。\n在物联网业务部中，物联网集团（IOTG）二季度营收9.84亿美元，同比激增47%，市场预期为9美元；基于人工智能的自动驾驶业务Mobileye季度营收翻倍激增124%，创史上二季度最高至3.27亿美元，但低于部分分析师预期的3.6亿美元，Mobileye营收去年曾同比增10%至新高。\n此外，非易失性存储解决方案事业部（NSG）二季度营收11亿美元，同比下跌34%，但高于分析师预期的6.9亿美元，去年曾同比增23%至历史最高。可编程解决方案事业部（PSG）营收4.86亿美元，同比下跌3%。\n\n英特尔表示，二季度整体营收超过公司4月提供的指引，主要由个人电脑CCG部门的持续强劲，以及物联网事业部（IOTG）和数据中心事业部（DCG）中的企业部门强劲复苏推动，当季PC平台销量同比增长 33%，Mobileye 获得 10 个额外的设计中标，为更多设备提供全生命周期技术支持。\n英特尔股价表现远逊于竞争对手，市场聚焦新CEO领导下的扩产和转型计划\n在股价表现方面，今日盘后转跌的态势如果延续，等于英特尔在过去四份季度财报发布后有三次盘后下跌。其股价今年二季度整体跌超12%，同期容纳其作为成分股之一的道指累涨4.6%、标普500指数累涨逾8%、科技股居多的纳指累涨9.5%，费城半导体指数累涨超7%。\n统计显示，由于疫情推升了汽车、笔记本电脑和游戏机中的芯片需求，过去12个月大部分芯片制造商股价飙升，英特尔不升反降了逾9%，竞争对手英伟达则涨超80%，AMD涨超50%。这主要是由于华尔街对英特尔短期内看跌，令其股价因生产失误和市场份额输给竞争对手而受到伤害。\n展望未来，市场将密切关注英特尔管理层给出的转型战略，CEO Gelsinger预计在本月晚些时候公布更多细节。\n一方面，数据中心收入持续同比下降，代表英特尔不断输掉市场份额，甚至输掉技术领先能力。同时，芯片短缺也会拖累其销售，Gelsinger曾认为短缺会持续到2022年以后。公司高管在财报电话会上称：“芯片短缺问题料将在今年下半年见底，但芯片行业完全恢复产能还需1-2年。”\n今年年初，Gelsinger曾宣布将创建一个价值200亿美元的新代工业务，为其他公司制造芯片，美国和海外的额外产能扩张也处于规划阶段。公司还可能受益于美国国会与拜登政府筹划的增强国内芯片制造能力的拨款法案。\n上周有媒体称，英特尔正考虑从阿布扎比政府主权财富基金手中以约300亿美元，收购全球第四大芯片代工厂GlobalFoundries。如果达成将是公司史上最大的一笔收购，英特尔也会变成芯片领域的全栈供应商，不仅仅是PC上的芯片，还包括5G、物联网、电动汽车等关键领域。","news_type":1,"symbols_score_info":{"09086":0.9,"03086":0.9,"INTC":0.9}},"isVote":1,"tweetType":1,"viewCount":376,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":176729528,"gmtCreate":1626916916764,"gmtModify":1703480496419,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Oic","listText":"Oic","text":"Oic","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/176729528","repostId":"2153396623","repostType":4,"isVote":1,"tweetType":1,"viewCount":511,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178293811,"gmtCreate":1626822496433,"gmtModify":1703765699065,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/178293811","repostId":"2152686859","repostType":4,"repost":{"id":"2152686859","kind":"news","pubTimestamp":1626795361,"share":"https://ttm.financial/m/news/2152686859?lang=en_US&edition=fundamental","pubTime":"2021-07-20 23:36","market":"us","language":"zh","title":"Split the business and accelerate the transformation! Can GlaxoSmithKline successfully break the game this time?","url":"https://stock-news.laohu8.com/highlight/detail?id=2152686859","media":"医药魔方","summary":"2021年对于葛兰素史克来说显得有些艰难，在加速转型的路上，GSK也不可避免地经历阵痛期。\nGSK 2020年的财报其实就显示出了一定的颓势，全年营收为340.99亿英镑，同比增长仅仅为1%，此外在制","content":"<p>2021 for<a href=\"https://laohu8.com/S/GSK\">Glaxo SmithKline</a>It seems a bit difficult. On the road to accelerating transformation, GSK will inevitably experience a period of pain.</p><p>GSK's 2020 financial report actually showed a certain decline. The annual revenue was 34.099 billion pounds, a year-on-year increase of only 1%. In addition, the revenue from the pharmaceutical and vaccine businesses showed varying degrees of decline. Entering 2021, GSK's performance in the first quarter is still somewhat bleak, with total revenue of 7.418 billion pounds, a year-on-year decrease of 18%. For an established and powerful MNC, this result seems a bit unreasonable. In particular, GSK's vaccine business sales in the first quarter were only 1.2 billion pounds, a year-on-year decrease of nearly 32%. Two years ago, GSK's vaccine business revenue ranked first in the world.</p><p><img src=\"https://static.tigerbbs.com/49db1b7ede2237c7045d9671b5461350\" tg-width=\"720\" tg-height=\"391\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">Source: GSK 2021 Q1 financial report</p><p>At the beginning of June this year, PharmExec (American Pharmaceutical Manager Magazine) announced the TOP50 list of global pharmaceutical companies in 2021. GSK ranked ninth. Although GSK's ranking has been relatively stable in the past three years, the overall and core product sales Looking at it, the situation is hardly optimistic. It can be seen from the rankings of pharmaceutical companies in the past three years that the gap between GSK and leading pharmaceutical companies is further widening. In 2018, the sales gap between GSK and the previous one was basically the same, and in 2020, it will be directly defeated by the previous one. In addition, the sales gap between GSK and the pharmaceutical companies ranked behind has further narrowed in the past two years. In 2020, GSK's highest-selling drug was the HIV-1 infection drug Triumeq. Although sales reached US $2.96 billion, it fell by 8.7% year-on-year. Sales in the first quarter of this year fell by 23% year-on-year. With the fierce impact of Gilead, the drug's market share prospects also seem somewhat precarious.</p><p>TOP10 global pharmaceutical companies (sales: US $100 million)</p><p><img src=\"https://static.tigerbbs.com/3af8fbdca54d47d99c31dfe2d6d6e7b7\" tg-width=\"720\" tg-height=\"827\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">Note: The data is compiled from Medicine Rubik's Cube, and the sales volume is from the previous year</p><p>More than halfway through 2021, whether GSK can successfully stop the decline and make a turnaround in the second half of the year and even in the future, as far as the signals released by GSK are concerned, the day when the clouds will be cleared and the sun will be seen may not be far away.</p><p>1 Split the business, can the revenue continue to grow in the next ten years?</p><p>Speaking of GSK, we have to mention its current head-Emma Walmsley. Since becoming the CEO of GSK in 2016, Walmsley has been leading GSK on the road of transformation under the aura of the first female CEO in GSK history. Faced with the decline of business, Walmsley recently announced GSK's operation and research and development plans for the next ten years. An important part of this is that it is expected that in mid-2022, GSK's consumer health segment will be separated into an independent company, and the spin-off The new GSK will focus on the development of innovative vaccines and drugs.</p><p>The voice of doubt is inevitable on the road to transformation, and the capital force represented by the capital tycoon Elliott Management is already making the voice of doubt. Elliott said that Walmsley, who has no scientific background, is directing blindly, and even called for the direct dismissal of Walmsley. However, GSK's board of directors still firmly stood on the side of its own head. The board of directors said that under Walmsley's leadership, GSK can achieve leapfrog development through spin-off and long-term planning for the future.</p><p>In Walmsley's plan, after GSK is split into two, the independent pharmaceutical sector will maintain continuous growth in the next ten years. By 2031, the revenue of the independent pharmaceutical business will reach 46 billion US dollars, of which the operating profit in the next five years will continue to grow by more than 10%. After the spin-off is completed, the new GSK will focus more on the development of infectious diseases, HIV, tumors and immune/respiratory system drugs.</p><p>As GSK's traditional advantageous business, the consumer health care business brought more than US $13 billion in revenue to GSK last year. The performance after the spin-off was also unanimously favored by Walmsley and the board of directors. The annual revenue of this spin-off exceeded US $10 billion and is still growing consumer health care business. GSK's move has also been controversial. Some analysts believe that GSK's core purpose is to broaden financing channels, demand higher valuations and improve operational efficiency.</p><p>From single-core to Gemini mode, GSK has made a huge attempt for the development of the next ten years, and Walmsley, who is under great pressure, and his partners in the camp are bound to face more challenges. The grandiloquence has been recorded, and time will give the answer.</p><p>2 After successively introducing new products, can GSK catch up?</p><p>After announcing the ten-year plan, GSK blew the charge on the road to transformation one after another.</p><p>Recently, GSK and Alector jointly announced that the two companies have reached a global strategic cooperation. GSK spent US $2.2 billion to obtain two potential \"first-in-class\" monoclonal antibody drugs in the clinical stage. The joint development rights of AL001 and AL101, these two drugs will be used to develop and treat multiple neurodegenerative diseases including amyotrophic lateral sclerosis, Parkinson's disease and Alzheimer's disease.</p><p>This move is also regarded as GSK's layout of one of the most attractive gene verification targets in the current new immunoneurological treatment methods. From GSK's layout of the immune track, it is not difficult to see that it attaches great importance to immune drugs. In the past 2020, both Nucala and Trelegy Ellipta have grown into blockbuster drugs for their respective indications. Nucala is the world's first The anti-IL5 monoclonal antibody drug for the treatment of eosinophilic asthma has a breakthrough significance in the expansion of multiple indications, and its sales in 2020 have also reached US $1.284 billion. It is worth mentioning that Nucala's sales in the first quarter of this year also reached US $352 million, a year-on-year increase of 21%, and are expected to continue to grow in the future. Another drug, Trelegy Ellipta, is the first triple inhalation preparation approved for both COPD and asthma. Sales in 2020 exceeded the billion-dollar mark for the first time, with a growth rate of 60%.</p><p>In addition, Benlysta (belimumab) is the first new systemic lupus erythematosus (SLE) drug on the market in 50 years. Sales in 2020 are also close to the blockbuster threshold, and Benlysta was approved by the FDA for use on December 17, 2020. A serious complication of SLE-lupus nephritis, has become the first drug approved by the FDA for the treatment of lupus nephritis. Coupled with its entry into the national medical insurance catalog, Benlysta has maintained a high double-digit growth in sales revenue in the first quarter of 2021 (18%).</p><p>It is not difficult to see from this that with drugs such as Nucala, Trelegy Ellipta and Benlysta taking the lead, and GSK currently has more than 20 drugs that have entered Phase III clinical trials, the competitiveness of the first and substitute players should not be underestimated, and immune drugs will become One of the pillars supporting GSK's business growth in the future.</p><p>In terms of anti-tumor drugs, GSK has obviously accelerated the pace of its layout. Also last month, GSK introduced a TIGIT monoclonal antibody drug with up to US $2 billion. As a popular target after PD-1/PD-L1 and CTLA-4, TIGIT has also attracted a number of pharmaceutical giant companies to deploy. However, no product for this target has yet been approved. Since only one PD-1 product has been approved until this year, GSK, which has obviously been thrown out of dozens of positions in the PD-1 track layout, is also targeting this rising star. In the future, GSK will cooperate with Roche,<a href=\"https://laohu8.com/S/MRK\">Merck & Co</a>, BMS and other old rivals continue to catch and kill.</p><p>Previously, GSK acquired Tesaro for a sky-high price of US $5.1 billion and obtained the development rights of Zejula (niraparib). As the only PARP inhibitor that only needs to be taken orally once a day, Zejula's performance in 2020 has not lived up to expectations. It has achieved a growth of nearly 50%, and in the first quarter of 2021, it also reached sales of US $122 million, a year-on-year increase of 10%. Another drug, Blenrep, as the world's first BCMA (B-cell maturation antigen) targeted therapy on the market, has achieved sales of 43 million US dollars in clinical end-line therapy applications in just 5 months, and its future prospects are also relatively optimistic.</p><p>Although due to various reasons, GSK only returned to the oncology drug track in 2016. Judging from the layout in recent years, GSK seems to be a little hesitant in the layout of oncology drugs, which also leads to its current There is no true blockbuster drug that leads the world, and after successively introducing multiple products to expand the pipeline, GSK will have more confidence to challenge other competitors.</p><p>3 With a new generation of therapies, can GSK successfully challenge Gilead's HIV dominance?</p><p>Data shows that the global HIV drug market exceeded US $27 billion in 2020, and in this vast market, Gilead is currently the well-deserved overlord, occupying 62% of the global HIV market. The blockbuster product Biktarvy developed by Gilead was in the limelight for a while, reaching sales of US $7.3 billion in the second year of its launch, becoming the king of HIV drugs. As a veteran HIV player, GSK has been firmly occupying the second place in recent years. Despite the impact of Biktarvy, which has led to a decline in the growth rate of GSK's HIV drug sales, its Triumeq and Tivicay were handed over last year. A good report card, with sales reaching 2.98 billion and 1.97 billion US dollars respectively.</p><p><img src=\"https://static.tigerbbs.com/dfafd99b115f924f68a1cf5050d6dff2\" tg-width=\"720\" tg-height=\"433\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">Source:<a href=\"https://laohu8.com/S/SINA\">SINA</a>Pharmaceutical</p><p>So in the future, does GSK have the opportunity to challenge Gilead's dominance in the HIV field? Of course it is possible.</p><p>One of the major reasons is that GSK has successfully developed Cabenuva, which is currently the first and only long-acting drug that can completely treat HIV-1 infection, and it can be administered once a month. In other words, Cabenuva has completed a historic breakthrough in the transformation of HIV patients from oral administration 365 days a year to monthly injection, that is, only 12 days of injection treatment throughout the year. Although Gilead also has various layouts for long-acting HIV administration, GSK has obviously mastered the initiative of a new generation of HIV therapy. According to GSK's forecast, Cabenuva's sales will reach 7 billion US dollars in the next few years. It is also confident that GSK is currently at least five years ahead of other competitors in the new generation of long-acting drug delivery.</p><p>4 With no luck, can GSK catch the next bus in COVID-19 vaccine?</p><p>As one of the world's largest vaccine manufacturers, GSK's development process in COVID-19 vaccine has been full of twists and turns.</p><p>Despite previous associations with<a href=\"https://laohu8.com/S/0O59.UK\">Sanofi</a>Jointly announced the development of the adjuvant recombinant protein COVID-19 vaccine, but unfortunately, due to the unsatisfactory results of the vaccine in the mid-term phase 1/2 study last year, the two parties were not allowed to announce the postponement of the trial plan. It was not until May this year that they jointly announced the restart and started Phase III clinical trials. Misfortune never rains poorly, and the cooperation between GSK and CureVac is even worse. On June 17, CureVac announced that the results of the second interim analysis of its mRNA Novel Coronavirus vaccine candidate Phase 2b/3 study showed that the effectiveness was only 47%, which undoubtedly gave GSK a blow.</p><p>In<a href=\"https://laohu8.com/S/PFE\">Pfizer</a>When Moderna made a lot of money because of COVID-19 vaccine, GSK is not even qualified to drink soup at present, but there is no way to go. The adjuvant recombinant protein COVID-19 vaccine previously jointly developed by GSK and Sanofi is restarting clinical practice. Everything goes well and may be available before the end of the year. Bogillot, chairman of Sanofi France, also made an optimistic prediction. Despite entering the field late, the vaccine may be very effective in France and overseas. He also said: \"With the emergence of mutated viruses, we must achieve very high levels of herd immunity.\" In addition, the neutralizing antibody therapy VIR-7831 jointly developed by GSK and Vir Biotechnology has good clinical trial results in the treatment of early COVID-19 patients, and the two companies have submitted an emergency use authorization application to the US FDA.</p><p>Although it has missed the best opportunity to get on the bus, as the only company that develops drugs and vaccines for the three major global diseases (malaria, AIDS and tuberculosis) identified by WHO, GSK still doesn't have to worry too much about the commercialization and production capacity of vaccines. As an important pawn on the road of future transformation, how Walmsley leads her team to catch up and play carefully on these three tracks will also bother her for some time.</p><p>5 Summary</p><p>Whether it is questioned or not, GSK's transformation road has indeed officially kicked off. In the ancient East, there is a saying: If you are easy to be poor, you will change, and if you change, you will be successful. The general rule is applicable to GSK at this moment for a long time. In the dilemma of continued business decline, such changes are indeed needed to inject new vitality into GSK. Although the temporary \"change makes sense\" has not been confirmed by results in a short period of time, it is worth encouraging that Walmsley is leading GSK to try to get out of the fog. The ten-year plan is long. Maybe Walmsley has been fired one year later. Maybe Walmsley has led GSK to complete the transformation after three years... No one can predict the future, we will wait and see.</p>","source":"lsy1571747680734","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>Split the business and accelerate the transformation! Can GlaxoSmithKline successfully break the game this time?</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\">\nSplit the business and accelerate the transformation! Can GlaxoSmithKline successfully break the game this time?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">医药魔方</strong><span class=\"h-time small\">2021-07-20 23:36</span>\n</p>\n</h4>\n</header>\n<article>\n<p>2021 for<a href=\"https://laohu8.com/S/GSK\">Glaxo SmithKline</a>It seems a bit difficult. On the road to accelerating transformation, GSK will inevitably experience a period of pain.</p><p>GSK's 2020 financial report actually showed a certain decline. The annual revenue was 34.099 billion pounds, a year-on-year increase of only 1%. In addition, the revenue from the pharmaceutical and vaccine businesses showed varying degrees of decline. Entering 2021, GSK's performance in the first quarter is still somewhat bleak, with total revenue of 7.418 billion pounds, a year-on-year decrease of 18%. For an established and powerful MNC, this result seems a bit unreasonable. In particular, GSK's vaccine business sales in the first quarter were only 1.2 billion pounds, a year-on-year decrease of nearly 32%. Two years ago, GSK's vaccine business revenue ranked first in the world.</p><p><img src=\"https://static.tigerbbs.com/49db1b7ede2237c7045d9671b5461350\" tg-width=\"720\" tg-height=\"391\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">Source: GSK 2021 Q1 financial report</p><p>At the beginning of June this year, PharmExec (American Pharmaceutical Manager Magazine) announced the TOP50 list of global pharmaceutical companies in 2021. GSK ranked ninth. Although GSK's ranking has been relatively stable in the past three years, the overall and core product sales Looking at it, the situation is hardly optimistic. It can be seen from the rankings of pharmaceutical companies in the past three years that the gap between GSK and leading pharmaceutical companies is further widening. In 2018, the sales gap between GSK and the previous one was basically the same, and in 2020, it will be directly defeated by the previous one. In addition, the sales gap between GSK and the pharmaceutical companies ranked behind has further narrowed in the past two years. In 2020, GSK's highest-selling drug was the HIV-1 infection drug Triumeq. Although sales reached US $2.96 billion, it fell by 8.7% year-on-year. Sales in the first quarter of this year fell by 23% year-on-year. With the fierce impact of Gilead, the drug's market share prospects also seem somewhat precarious.</p><p>TOP10 global pharmaceutical companies (sales: US $100 million)</p><p><img src=\"https://static.tigerbbs.com/3af8fbdca54d47d99c31dfe2d6d6e7b7\" tg-width=\"720\" tg-height=\"827\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">Note: The data is compiled from Medicine Rubik's Cube, and the sales volume is from the previous year</p><p>More than halfway through 2021, whether GSK can successfully stop the decline and make a turnaround in the second half of the year and even in the future, as far as the signals released by GSK are concerned, the day when the clouds will be cleared and the sun will be seen may not be far away.</p><p>1 Split the business, can the revenue continue to grow in the next ten years?</p><p>Speaking of GSK, we have to mention its current head-Emma Walmsley. Since becoming the CEO of GSK in 2016, Walmsley has been leading GSK on the road of transformation under the aura of the first female CEO in GSK history. Faced with the decline of business, Walmsley recently announced GSK's operation and research and development plans for the next ten years. An important part of this is that it is expected that in mid-2022, GSK's consumer health segment will be separated into an independent company, and the spin-off The new GSK will focus on the development of innovative vaccines and drugs.</p><p>The voice of doubt is inevitable on the road to transformation, and the capital force represented by the capital tycoon Elliott Management is already making the voice of doubt. Elliott said that Walmsley, who has no scientific background, is directing blindly, and even called for the direct dismissal of Walmsley. However, GSK's board of directors still firmly stood on the side of its own head. The board of directors said that under Walmsley's leadership, GSK can achieve leapfrog development through spin-off and long-term planning for the future.</p><p>In Walmsley's plan, after GSK is split into two, the independent pharmaceutical sector will maintain continuous growth in the next ten years. By 2031, the revenue of the independent pharmaceutical business will reach 46 billion US dollars, of which the operating profit in the next five years will continue to grow by more than 10%. After the spin-off is completed, the new GSK will focus more on the development of infectious diseases, HIV, tumors and immune/respiratory system drugs.</p><p>As GSK's traditional advantageous business, the consumer health care business brought more than US $13 billion in revenue to GSK last year. The performance after the spin-off was also unanimously favored by Walmsley and the board of directors. The annual revenue of this spin-off exceeded US $10 billion and is still growing consumer health care business. GSK's move has also been controversial. Some analysts believe that GSK's core purpose is to broaden financing channels, demand higher valuations and improve operational efficiency.</p><p>From single-core to Gemini mode, GSK has made a huge attempt for the development of the next ten years, and Walmsley, who is under great pressure, and his partners in the camp are bound to face more challenges. The grandiloquence has been recorded, and time will give the answer.</p><p>2 After successively introducing new products, can GSK catch up?</p><p>After announcing the ten-year plan, GSK blew the charge on the road to transformation one after another.</p><p>Recently, GSK and Alector jointly announced that the two companies have reached a global strategic cooperation. GSK spent US $2.2 billion to obtain two potential \"first-in-class\" monoclonal antibody drugs in the clinical stage. The joint development rights of AL001 and AL101, these two drugs will be used to develop and treat multiple neurodegenerative diseases including amyotrophic lateral sclerosis, Parkinson's disease and Alzheimer's disease.</p><p>This move is also regarded as GSK's layout of one of the most attractive gene verification targets in the current new immunoneurological treatment methods. From GSK's layout of the immune track, it is not difficult to see that it attaches great importance to immune drugs. In the past 2020, both Nucala and Trelegy Ellipta have grown into blockbuster drugs for their respective indications. Nucala is the world's first The anti-IL5 monoclonal antibody drug for the treatment of eosinophilic asthma has a breakthrough significance in the expansion of multiple indications, and its sales in 2020 have also reached US $1.284 billion. It is worth mentioning that Nucala's sales in the first quarter of this year also reached US $352 million, a year-on-year increase of 21%, and are expected to continue to grow in the future. Another drug, Trelegy Ellipta, is the first triple inhalation preparation approved for both COPD and asthma. Sales in 2020 exceeded the billion-dollar mark for the first time, with a growth rate of 60%.</p><p>In addition, Benlysta (belimumab) is the first new systemic lupus erythematosus (SLE) drug on the market in 50 years. Sales in 2020 are also close to the blockbuster threshold, and Benlysta was approved by the FDA for use on December 17, 2020. A serious complication of SLE-lupus nephritis, has become the first drug approved by the FDA for the treatment of lupus nephritis. Coupled with its entry into the national medical insurance catalog, Benlysta has maintained a high double-digit growth in sales revenue in the first quarter of 2021 (18%).</p><p>It is not difficult to see from this that with drugs such as Nucala, Trelegy Ellipta and Benlysta taking the lead, and GSK currently has more than 20 drugs that have entered Phase III clinical trials, the competitiveness of the first and substitute players should not be underestimated, and immune drugs will become One of the pillars supporting GSK's business growth in the future.</p><p>In terms of anti-tumor drugs, GSK has obviously accelerated the pace of its layout. Also last month, GSK introduced a TIGIT monoclonal antibody drug with up to US $2 billion. As a popular target after PD-1/PD-L1 and CTLA-4, TIGIT has also attracted a number of pharmaceutical giant companies to deploy. However, no product for this target has yet been approved. Since only one PD-1 product has been approved until this year, GSK, which has obviously been thrown out of dozens of positions in the PD-1 track layout, is also targeting this rising star. In the future, GSK will cooperate with Roche,<a href=\"https://laohu8.com/S/MRK\">Merck & Co</a>, BMS and other old rivals continue to catch and kill.</p><p>Previously, GSK acquired Tesaro for a sky-high price of US $5.1 billion and obtained the development rights of Zejula (niraparib). As the only PARP inhibitor that only needs to be taken orally once a day, Zejula's performance in 2020 has not lived up to expectations. It has achieved a growth of nearly 50%, and in the first quarter of 2021, it also reached sales of US $122 million, a year-on-year increase of 10%. Another drug, Blenrep, as the world's first BCMA (B-cell maturation antigen) targeted therapy on the market, has achieved sales of 43 million US dollars in clinical end-line therapy applications in just 5 months, and its future prospects are also relatively optimistic.</p><p>Although due to various reasons, GSK only returned to the oncology drug track in 2016. Judging from the layout in recent years, GSK seems to be a little hesitant in the layout of oncology drugs, which also leads to its current There is no true blockbuster drug that leads the world, and after successively introducing multiple products to expand the pipeline, GSK will have more confidence to challenge other competitors.</p><p>3 With a new generation of therapies, can GSK successfully challenge Gilead's HIV dominance?</p><p>Data shows that the global HIV drug market exceeded US $27 billion in 2020, and in this vast market, Gilead is currently the well-deserved overlord, occupying 62% of the global HIV market. The blockbuster product Biktarvy developed by Gilead was in the limelight for a while, reaching sales of US $7.3 billion in the second year of its launch, becoming the king of HIV drugs. As a veteran HIV player, GSK has been firmly occupying the second place in recent years. Despite the impact of Biktarvy, which has led to a decline in the growth rate of GSK's HIV drug sales, its Triumeq and Tivicay were handed over last year. A good report card, with sales reaching 2.98 billion and 1.97 billion US dollars respectively.</p><p><img src=\"https://static.tigerbbs.com/dfafd99b115f924f68a1cf5050d6dff2\" tg-width=\"720\" tg-height=\"433\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">Source:<a href=\"https://laohu8.com/S/SINA\">SINA</a>Pharmaceutical</p><p>So in the future, does GSK have the opportunity to challenge Gilead's dominance in the HIV field? Of course it is possible.</p><p>One of the major reasons is that GSK has successfully developed Cabenuva, which is currently the first and only long-acting drug that can completely treat HIV-1 infection, and it can be administered once a month. In other words, Cabenuva has completed a historic breakthrough in the transformation of HIV patients from oral administration 365 days a year to monthly injection, that is, only 12 days of injection treatment throughout the year. Although Gilead also has various layouts for long-acting HIV administration, GSK has obviously mastered the initiative of a new generation of HIV therapy. According to GSK's forecast, Cabenuva's sales will reach 7 billion US dollars in the next few years. It is also confident that GSK is currently at least five years ahead of other competitors in the new generation of long-acting drug delivery.</p><p>4 With no luck, can GSK catch the next bus in COVID-19 vaccine?</p><p>As one of the world's largest vaccine manufacturers, GSK's development process in COVID-19 vaccine has been full of twists and turns.</p><p>Despite previous associations with<a href=\"https://laohu8.com/S/0O59.UK\">Sanofi</a>Jointly announced the development of the adjuvant recombinant protein COVID-19 vaccine, but unfortunately, due to the unsatisfactory results of the vaccine in the mid-term phase 1/2 study last year, the two parties were not allowed to announce the postponement of the trial plan. It was not until May this year that they jointly announced the restart and started Phase III clinical trials. Misfortune never rains poorly, and the cooperation between GSK and CureVac is even worse. On June 17, CureVac announced that the results of the second interim analysis of its mRNA Novel Coronavirus vaccine candidate Phase 2b/3 study showed that the effectiveness was only 47%, which undoubtedly gave GSK a blow.</p><p>In<a href=\"https://laohu8.com/S/PFE\">Pfizer</a>When Moderna made a lot of money because of COVID-19 vaccine, GSK is not even qualified to drink soup at present, but there is no way to go. The adjuvant recombinant protein COVID-19 vaccine previously jointly developed by GSK and Sanofi is restarting clinical practice. Everything goes well and may be available before the end of the year. Bogillot, chairman of Sanofi France, also made an optimistic prediction. Despite entering the field late, the vaccine may be very effective in France and overseas. He also said: \"With the emergence of mutated viruses, we must achieve very high levels of herd immunity.\" In addition, the neutralizing antibody therapy VIR-7831 jointly developed by GSK and Vir Biotechnology has good clinical trial results in the treatment of early COVID-19 patients, and the two companies have submitted an emergency use authorization application to the US FDA.</p><p>Although it has missed the best opportunity to get on the bus, as the only company that develops drugs and vaccines for the three major global diseases (malaria, AIDS and tuberculosis) identified by WHO, GSK still doesn't have to worry too much about the commercialization and production capacity of vaccines. As an important pawn on the road of future transformation, how Walmsley leads her team to catch up and play carefully on these three tracks will also bother her for some time.</p><p>5 Summary</p><p>Whether it is questioned or not, GSK's transformation road has indeed officially kicked off. In the ancient East, there is a saying: If you are easy to be poor, you will change, and if you change, you will be successful. The general rule is applicable to GSK at this moment for a long time. In the dilemma of continued business decline, such changes are indeed needed to inject new vitality into GSK. Although the temporary \"change makes sense\" has not been confirmed by results in a short period of time, it is worth encouraging that Walmsley is leading GSK to try to get out of the fog. The ten-year plan is long. Maybe Walmsley has been fired one year later. Maybe Walmsley has led GSK to complete the transformation after three years... No one can predict the future, we will wait and see.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/stock/hkstock/hkstocknews/2021-07-17/doc-ikqciyzk5966442.shtml\">医药魔方</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/85675909dc6c67ee0181339c18bcfdff","relate_stocks":{"GSK":"葛兰素史克","GSK.UK":"葛兰素史克"},"source_url":"https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/stock/hkstock/hkstocknews/2021-07-17/doc-ikqciyzk5966442.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2152686859","content_text":"2021年对于葛兰素史克来说显得有些艰难，在加速转型的路上，GSK也不可避免地经历阵痛期。\nGSK 2020年的财报其实就显示出了一定的颓势，全年营收为340.99亿英镑，同比增长仅仅为1%，此外在制药和疫苗业务收入均呈现了不同程度的下跌。进入2021年，GSK第一季度业绩依然有些惨淡，总营收为74.18亿英镑，同比下滑了18%，对于一个老牌豪强MNC来说，这个成绩似乎有点儿说不过去。尤其是GSK的疫苗业务一季度销售额仅仅有12亿英镑，同比下滑近32%，而两年前GSK的疫苗业务收入还位居全球第一。\n图源：GSK 2021年Q1财报\n今年6月初，PharmExec（美国制药经理人杂志）公布了2021年全球制药企业TOP50榜单，GSK排在第九位，尽管近三年以来GSK的排名较为稳定，然而从总体以及核心产品的销售额来看，形势难言乐观。从近三年来的药企排名可以看出，GSK和头部药企的差距正在进一步拉大，在2018年还和前一位销售额差距基本持平的情况下，到了2020年直接被前一名甩开了超过50亿美元的销售额，此外在近两年GSK与排名在后面的药企的销售额差距也在进一步缩小。2020年GSK销售额最高的药物为HIV-1感染药物Triumeq，尽管销售额达到29.6亿美元，但同比下跌了8.7%，今年第一季度的销售额更是同比下跌了23%，随着后面吉利德的猛烈冲击，该药的市场份额前景也显得有些岌岌可危。\n全球药企TOP10（销售额：亿美元）\n注：数据整理自医药魔方，销售额为上一年度\n2021年已经行之过半，在下半年乃至未来GSK能否顺利止住颓势，打好翻身仗，就目前GSK所释放出来的信号而言，拨云睹日的那一天或许不再遥远。\n1 分拆业务，未来十年收入能否持续增长？\n说起GSK，就不得不提一下其现任掌门人——Emma Walmsley。自2016年成为GSK CEO之后，顶着GSK史上首位女性CEO的光环，Walmsley也一直带领着GSK走在转型的路上。面临业务下降的颓势，Walmsley在近期宣布了GSK未来十年的运营以及研发计划，其中重要的一部分是预计在2022年的年中，GSK的消费者健康部分将被分离成为一家独立的公司，而分拆后的新GSK将专注于创新疫苗和药物的开发。\n转型的路上必然少不了质疑之声，以资本大鳄Elliott Management为代表的资本力量就已经在发出质疑的声音。Elliott表示没有科学背景的Walmsley在瞎指挥，甚至呼吁直接解雇Walmsley，不过GSK的董事会还是坚定站在自己掌门人这一边，董事会表示在Walmsley的领导下，GSK能够通过分拆以及未来的长期规划实现跨越式的发展。\n在Walmsley的规划中，GSK一分为二之后，独立出来的制药板块将在未来十年里保持持续增长，到2031年，独立制药业务的收入将会达到460亿美元，其中在未来五年的营业利润将持续增长10%以上，完成分拆之后新GSK将会更专注于传染病、HIV、肿瘤以及免疫/呼吸系统药物的开发。\n而作为GSK的传统优势业务，消费者保健业务在去年为GSK带来了超过130亿美元的收入，分拆之后的表现也是被Walmsley以及董事会一致看好，而此次分拆出去一个年营收超过百亿美元，且还处于增长的消费者保健业务，GSK此举也受到不少争议，就有分析人士认为GSK核心目的或是拓宽融资渠道、需求更高估值以及提升运营效率。\n由单核变成双子星模式，GSK为未来十年的发展作出了巨大的尝试，而背负着巨大压力的Walmsley以及其阵营的伙伴势必将迎来更多的挑战，豪言壮语已经被记录在案，时间将会给出答案。\n2 接连重金引入新产品，GSK能否迎头赶上？\n在宣布十年计划后，GSK就接连吹响了转型路上的冲锋号。\n近期，GSK就和Alector公司联合宣布，两家公司达成了一项全球性战略合作，GSK花了22亿美元重金，获得了两个处在临床阶段的潜在“first-in-class”单抗药物AL001和AL101的共同开发权益，这两款药物将被用于开发治疗包括肌萎缩侧索硬化、帕金森病和阿尔茨海默病在内的多项神经退行性疾病。\n此举也被视为是GSK对当前新的免疫神经病学治疗方法中最有吸引力的基因验证靶点之一的布局。而从GSK对免疫赛道的布局也不难看出其对于免疫药物是极为重视的，在过去的2020年中，Nucala和Trelegy Ellipta均成长为了各自适应症的重磅炸弹药物，Nucala是全球第一款用于治疗嗜酸性粒细胞性哮喘的anti-IL5单抗药物，其在多个适应症拓展上具有突破性意义，在2020年的销售额也达到了12.84亿美元。值得一提的是，Nucala在今年第一季度销售额也达到了3.52亿美元，同比增长了21%，在未来有望持续增长。而另一款药物Trelegy Ellipta作为首个同时获批用于COPD和哮喘的三联吸入制剂，在2020年的销售额首次突破了十亿美元大关，增速高达60%。\n此外Benlysta（贝利尤单抗）作为50年来上市的首个系统性红斑狼疮（SLE）新药，2020年销售额也接近重磅炸弹门槛，并且Benlysta在2020年12月17日被FDA批准用于SLE的严重并发症——狼疮肾炎，成为FDA批准的首个用于治疗狼疮肾炎的药物，再加上进入国家医保目录，Benlysta在2021年第一季度销售收入保持了高双位数增长（18%），顶着众多光环的Benlysta无疑也将成为GSK该赛道旗下的得力干将。\n由此不难看出，以Nucala、Trelegy Ellipta和Benlysta等药物打头阵，再加上GSK目前还坐拥20余款进入三期临床的药物，首发和替补选手竞争力都不容小觑，免疫药物将成为未来支撑GSK业务增长的支柱之一。\n在抗肿瘤药物上，GSK明显也是加快了其布局的步伐。同样在上个月GSK用高达20亿美金引入了一款TIGIT单抗药物，作为继PD-1/PD-L1、CTLA-4之后的热门靶点，TIGIT也吸引了一众医药巨头公司布局，但目前还未有该靶点的产品获批面世。由于直至今年才有一款PD-1产品获批，在PD-1赛道布局明显被甩出几十个身位的GSK也瞄准了这一后起之秀，在未来，GSK将与罗氏、默沙东、BMS等老对手继续捉对厮杀。\n此前GSK以51亿美元天价收购Tesaro并获得了Zejula（尼拉帕利）的开发权益，作为唯一一款每日只需口服1次的PARP抑制剂，Zejula在2020年的业绩也不负所望，取得近50%的增长，2021年第一季度也达到了1.22亿美元的销售额，同比增长了10%。而另一款药物Blenrep作为全球第一款上市的BCMA（B细胞成熟抗原）靶向疗法，在短短5个月内在临床末线疗法应用上就取得4300万美元的销售额，未来前景也较为乐观。\n尽管因为各种原因，GSK在2016年才重返肿瘤药物赛道，在近几年的布局来看，在对肿瘤药物的布局上，GSK似乎有些踯躅不前，这也是导致其在目前并没有一款真正的引领全球的重磅炸弹药物，而在接连引进多款产品扩充管线之后，GSK将会有更多的底气去和其它竞争对手叫板。\n3 拥有新一代疗法，GSK能否成功挑战吉利德HIV霸主地位？\n数据显示，2020年全球HIV药物市场超过了270亿美元，而在这片广阔的市场中，吉利德（Gilead）是目前当之无愧的霸主，其占据了全球HIV市场的62%的市场份额，由吉利德开发的重磅产品Biktarvy（必妥维）更是一时风头无两，在上市的第二年就达到了73亿美元销售额，一跃成为HIV药王。GSK作为老牌HIV玩家，在近几年也一直稳稳占据第二把交椅，尽管受到了Biktarvy的冲击，导致GSK的HIV药物销售额增长率下降，但其开发的Triumeq以及Tivicay在去年还是交出了一份不错的成绩单，销售额分别达到了29.8亿和19.7亿美元。\n图源：新浪医药\n那么在未来，GSK有机会挑战吉利德在HIV领域的霸主地位吗？当然是有可能的。\n其中一个重大原因是GSK成功开发出了Cabenuva，这是目前首款也是唯一一款可以完整治疗HIV-1感染的长效药物，其可以实现每个月给药一次。换句话来说，Cabenuva完成了HIV患者从全年365天口服转变为每月注射一次即全年仅需注射治疗12天的历史性突破。尽管吉利德也在HIV长效给药上有各种布局，但GSK显然已经掌握新一代HIV疗法的主动权，据GSK预测，Cabenuva在未来几年的销售额将会达到70亿美元，其也自信地表示目前GSK在新一代长效给药方面至少领先其他竞争对手五年的时间。\n4 运气不佳，GSK能否赶上新冠疫苗下一班车？\n作为全球最大的疫苗生产商之一， GSK在新冠疫苗的开发历程中却充满了曲折。\n尽管先前与赛诺菲共同宣布进行佐剂重组蛋白新冠疫苗的开发，但不幸的是由于该疫苗在去年的1/2期研究中期结果不甚理想，双方不得以宣布推迟试验计划，直到今年的5月份才共同宣布重启并开始进行三期临床试验。祸不单行，GSK与CureVac的合作更是雪上加霜，6月17日，CureVac公司宣布，其mRNA新冠病毒候选疫苗2b/3期研究的第二次中期分析结果显示，有效性仅为47%，这无疑又给了GSK当头一棒。\n在辉瑞、Moderna因为新冠疫苗赚的盆满钵满的时候，GSK目前甚至连喝汤的资格都没有，不过天无绝人之路，GSK和赛诺菲此前合作研发的的佐剂重组蛋白新冠疫苗在重启临床后一切顺利并可能将于年底前上市。赛诺菲法国公司董事长Bogillot也对此作出了乐观预测，尽管进入该领域较晚，但该疫苗可能在法国和海外将非常有效，他还表示:“随着变异病毒的出现，我们必须实现非常高水平的群体免疫。” 此外，GSK与Vir Biotechnology联合开发的中和抗体疗法VIR-7831在治疗早期COVID-19患者的临床试验结果良好，两家公司已经向美国FDA递交紧急使用授权申请。\n尽管已经错过了最佳上车时机，但作为唯一被WHO确定的三大全球性疾病（疟疾、艾滋病和结核病）研制药物和疫苗的公司，GSK对于疫苗的商业化和产能还是不用过于操心的，而作为未来转型路上的一枚重要棋子，Walmsley怎样率领她的团队在这三条赛道奋起直追精心对弈，这个问题也将困扰她一段时间。\n5 小结\n不管是质疑与否，GSK的转型之路确实是正式拉开了序幕，在古老的东方有这样一句话：易穷则变，变则通，通则久正适用于此刻的GSK。在业务持续走低的窘境之中，确实需要这样的变革来为GSK注入新的活力。尽管暂时“变则通”在短时间内还没有成果来印证，但值得鼓励的是，Walmsley正在带领着GSK试图走出迷雾，十年计划是漫长的，或许在一年之后Walmsley就已经被解雇，也许在三年之后Walmsley已经带领GSK完成转型…..没有人可以预测未来，我们拭目以待。","news_type":1,"symbols_score_info":{"GSK":0.9,"GSK.UK":0.9}},"isVote":1,"tweetType":1,"viewCount":759,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171815369,"gmtCreate":1626736247151,"gmtModify":1703764042839,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Omg","listText":"Omg","text":"Omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/171815369","repostId":"2152652777","repostType":4,"isVote":1,"tweetType":1,"viewCount":663,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173637573,"gmtCreate":1626656855892,"gmtModify":1703762757741,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Wow, no bad","listText":"Wow, no bad","text":"Wow, no bad","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/173637573","repostId":"2152680193","repostType":4,"isVote":1,"tweetType":1,"viewCount":561,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179479430,"gmtCreate":1626574138720,"gmtModify":1703761873073,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Haiz","listText":"Haiz","text":"Haiz","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/179479430","repostId":"1102934343","repostType":4,"isVote":1,"tweetType":1,"viewCount":565,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179917820,"gmtCreate":1626481525560,"gmtModify":1703760814417,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/179917820","repostId":"1149986548","repostType":4,"isVote":1,"tweetType":1,"viewCount":745,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144557358,"gmtCreate":1626307544874,"gmtModify":1703757454460,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/144557358","repostId":"1111811630","repostType":4,"repost":{"id":"1111811630","kind":"news","pubTimestamp":1626307234,"share":"https://ttm.financial/m/news/1111811630?lang=en_US&edition=fundamental","pubTime":"2021-07-15 08:00","market":"sh","language":"zh","title":"Past of listing of Chinese Internet companies","url":"https://stock-news.laohu8.com/highlight/detail?id=1111811630","media":"吴杨野餐会","summary":"1983年，刘钢从北京大学法学院毕业，被分配到司法部秘书处，负责为部长撰写日常报告。\n一年后，他感觉工作内容枯燥，想申请调职。有人劝告他，秘书身份可能会更容易得到提升。\n1985年，国家推行“第三梯队","content":"<p>In 1983, Liu Gang graduated from Peking University Law School and was assigned to the Secretariat of the Ministry of Justice, responsible for writing daily reports for the minister.</p><p>A year later, he felt that his job content was boring and wanted to apply for transfer. He was advised that secretarial status might be promoted more easily.</p><p>In 1985, the state carried out the \"third echelon\" cadre reform. The Ministry of Justice selected young cadres to exercise at the grass-roots level, and Liu Gang was included. He voluntarily gave up his post in grass-roots organs and chose to be a grass-roots lawyer.</p><p>At the end of the training period, colleagues returned to the Ministry of Justice to continue their careers, but Liu Gang did not go back. He chose to stay in the law practice.</p><p>At that time, China's lawyer profession was just emerging, and everything was still in the ignorance period. Liu Gang's main business is debt collection.</p><p>Since then, he has lived the life of a \"debt collector migrant worker\": squeezing the hard seat of the train for two days and two nights, sleeping in Datongpu, which costs one dollar a night, running to catch up with the debtors, and avoiding the debtors' thugs and beatings...</p><p>The turning point came in 1989. The Ministry of Justice and the British Bar Association jointly launched a lawyer training project. After Liu Gang applied and passed the exam, he was selected to be sent to a law firm in London, England for internship training.</p><p>He wanted to do intellectual property rights that were hot in China at that time. But a senior partner at a British law firm advised him, \"I suggest you know about the capital market.\" Liu Gang asked, \"What is the capital market?\"</p><p><b>\"A country as big as China will have a capital market sooner or later.\"</b>The partner of the British law firm said.</p><p>In 1990, China ushered in its own capital market, and the Shanghai Stock Exchange and Shenzhen Stock Exchange opened successively.</p><p><img src=\"https://static.tigerbbs.com/99e63397642efd52b0b6a3d4dc5643f2\" tg-width=\"640\" tg-height=\"493\" referrerpolicy=\"no-referrer\"></p><p>▲ In the 1990s, investors lined up at the entrance of the Shanghai Stock Exchange</p><p>(Photography | China News Service Pan Sophie)</p><p>Two years later, China liberalized restrictions on private partnership law firms. Liu Gang and two friends rented an office outside Jianguomen and founded their own law firm: Commerce Law Firm.</p><p>In 2000, Liu Gang got a key opportunity in his career. At that time, Sina was hitting the Nasdaq listing. If successful, it will become the first Chinese Internet company to list in the United States.</p><p>Sina's listing entity is registered in the Cayman Islands. However, Chinese laws restrict foreign investment in the Internet field: foreign investment in China's Internet is prohibited, and foreign companies are also prohibited from conducting Internet business in China.</p><p>In order to bypass these investment restrictions, Liu Gang helped Sina design a complex control architecture. He connects foreign investors and Chinese companies through a series of complex legal contracts, so that overseas listed entities can control domestic operating entities through agreements without direct equity relationship.</p><p><b>Liu Gang used a paper VIE structure to open the curtain of overseas listing of Chinese Internet companies.</b></p><p>In April 2000, Sina successfully landed on Nasdaq in the United States. In June and July of the same year, NetEase and Sohu successively completed their listing on Nasdaq. China's three major portal websites are listed overseas, and Liu Gang is involved. This is very rare in the law profession.</p><p>Since then, for more than 20 years, almost all Chinese Internet companies have adopted the VIE structure of \"Sina Model\" when listing overseas. As of May 2021, a total of 248 Chinese companies have been listed in the United States, with a total market value of US $2.1 trillion. Among them, the number of Internet-related information technology companies is the largest, accounting for more than a quarter.</p><p><b>However, the VIE structure has also become the fulcrum of the stock market game between China and the United States in the next 20 years.</b></p><p>In Liu Gang's statement, the VIE structure \"enables overseas investment companies to control the operations of domestic companies without direct equity relationship\".</p><p>However, in the statement of the U.S. Congress, the VIE structure \"ensures that economic benefits flow to foreign investors, while the control of business operations remains with Chinese companies\".</p><p><b>This special structure has become a typical feature of Chinese concept stocks, and it has also laid the groundwork for controversy and crisis for Chinese Internet companies to list overseas in the past 20 years.</b></p><p>The ten-year history of overseas listing after the global financial crisis in 2008 is the key to help us understand the current situation of Chinese Internet companies. I've divided it into four phases, which are:</p><p><img src=\"https://static.tigerbbs.com/6e5b6f69c3b6db65256d2ee9f3c20b46\" tg-width=\"965\" tg-height=\"367\" referrerpolicy=\"no-referrer\"></p><p><b>01</b></p><p><b>Hunting Chinese companies</b></p><p><b>The first round of overseas listings and short selling (2010-2013)</b></p><p>On November 1, 2011, Zhou Hongyi rushed back to the company in the middle of the night and called a bunch of corresponding supervisors such as website, browser, investor relations, finance, legal affairs, and public relations.</p><p>At 9 o'clock that night, Citron Research, a short-selling agency, issued its first short-selling report against Qihoo 360 before the US stock market opened. An hour later, the report was sent to Zhou Hongyi. \"We were surprised when Citron shorted 360,\" he said.</p><p>On that day, Qihoo 360's stock fell by about 10%.</p><p>Seven months ago, Qihoo 360 was listed on the New York Stock Exchange. Along with it, a large number of Chinese companies landed in the US stock market.</p><p>After the 2008 financial crisis, the U.S. economy has recovered rapidly since 2009, and the international capital market has been active. At the same time, Chinese Internet companies are in a period of rapid expansion and urgently need funds.</p><p>A large number of Internet companies went to the United States to seek listing.<b>From 2010 to 2012, Internet companies such as AutoNavi Map, Qihoo 360, Youku, and Tudou successfully listed in the United States, starting an overseas boom of Chinese concept stocks.</b></p><p><img src=\"https://static.tigerbbs.com/53b96a1e444ead872f2cd9531b979af2\" tg-width=\"692\" tg-height=\"512\" referrerpolicy=\"no-referrer\"></p><p>▲ Changes in the number of Chinese companies listed in the United States from 1970 to 2020</p><p>Data source: Zero2IPO Research Center</p><p>In 2010, a total of about 50 Chinese concept stocks landed in the U.S. stock market, and the number of overseas listings of Chinese companies broke through the peak, which also attracted the attention of \"market vultures\" short-selling institutions.</p><p>Muddy Waters fired the first bullet. In 2010, Carson Block, the founder of Muddy Waters, issued a 30-page short-selling report of Oriental Paper. Oriental Paper's stock price plummeted, and Muddy Waters became famous in the first battle.</p><p>Subsequently, American short-selling institutions represented by Muddy Waters and Citron successively targeted Chinese concept stocks such as Focus Media, Qihoo 360, and New Oriental. Among them, Internet companies have become the hardest hit areas of Chinese concept stocks being hunted.</p><p>Under this round of short-selling institutions, more than 40 Chinese companies had to suspend trading and delist.<b>Chinese concept stocks collectively fell into a crisis of confidence.</b></p><p><b>VIE is a key target for American institutions to short Chinese companies.</b>\"There is a VIE structure in China's Internet industry. Americans think that if you don't have legal provisions, you will always feel confused,\" Zhou Hongyi said.</p><p>On July 17, 2012, New Oriental was investigated by the US Securities and Exchange Commission (SEC) due to the adjustment of VIE structure. Muddy Waters immediately released a short-selling report of more than 90 pages, pointing out that the VIE structure of New Oriental has huge hidden dangers and lacks control.</p><p>Within 48 hours, New Oriental's stock price fell by 60%, hitting a five-year low.</p><p>The New Oriental incident also caused the international market to worry about the VIE structure, and Chinese concept stocks generally fell sharply. Ctrip, Sina, etc. fell by more than 7%, while Dangdang, Qihoo 360, Netease, Sohu, etc. fell by more than 4%.</p><p>After the short-selling tide of Chinese concept stocks broke out, U.S. regulators made further strong attacks. In December 2012, the SEC launched an administrative lawsuit against Deloitte, Ernst & Young, KPMG, PricewaterhouseCoopers, and the China branch of BDO's five major accounting firms.</p><p>The SEC asked them to submit audit papers for nine Chinese concept stocks listed in the United States, but the Big Five accounting firms refused this request, unwilling to violate Chinese law.</p><p>This move has caused Chinese companies listed in the United States to fall into a situation where there is no auditor, forcing Chinese companies to delist.</p><p>The delisting tide of Chinese concept stocks is getting stronger and stronger. The number of Chinese companies listed in the United States decreased from more than 240 in 2010 to less than 200 in 2012.</p><p><img src=\"https://static.tigerbbs.com/2c640046a4853c23afbcdbf6ee3d55e5\" tg-width=\"500\" tg-height=\"339\" referrerpolicy=\"no-referrer\"></p><p>▲ Chinese concept stocks listed in the United States encountered a wave of short selling from 2010 to 2012</p><p>Data source: Guosheng Securities</p><p>Conflicts occur frequently, and China and the United States have incorporated audit cross-border law enforcement into the strategic economic dialogue. In 2013, the China Securities Regulatory Commission and the Ministry of Finance signed a law enforcement cooperation agreement with the US Listed Company Accounting Supervision Board (PCAOB) to formally carry out cross-border audit law enforcement cooperation.</p><p><b>However, the issues of data sovereignty and confidentiality are still difficult contradictions for China and the United States to coordinate.</b>All kinds of subsequent turmoil also arose as a result.</p><p><b>02</b></p><p><b>Shadows under the feast</b></p><p><b>Ali's listing and the review storm of Chinese concept stocks (2014-2017)</b></p><p>In September 2014, Jack Ma entered the UN headquarters. One of the purposes of his trip is to meet with UN Secretary-General Ban Ki-moon through the introduction of Chen Qizong, chairman of Hang Lung Group.</p><p>The two of them stood at the elevator entrance. When Ban Ki-moon came up, Chen Qizong said this to Jack Ma:</p><p>\"I know that Ali was forced to go public in the United States. Hong Kong does not have different rights for the same shares, so there is nothing you can do.<b>But Jack Ma, you have to be careful. Americans stretch their hands very long. One day he will give you trouble.</b>”</p><p>A week ago, Alibaba was successfully listed on the New York Stock Exchange on September 19th. Carnival flooded all over Wall Street.</p><p>That night, on the big black screen of the New York Stock Exchange, the numbers representing Alibaba's opening price kept rolling and continued to climb-70... 80... 90...</p><p>\"The opening price is 92.7!\" A voice shouted.</p><p>Jack Ma looked up and glanced excitedly at the numbers on the screen. He picked up his hammer and struck a golden bronze bell quickly. The crowd surrounding him immediately cheered, flashing lights one after another.</p><p>After more than 2 hours and 12 rounds of inquiries, Alibaba shares finally opened at 23:53 that night. The opening price was US $92.7, a 36.32% increase from the issue price of US $68. The total amount of financing reached US $34.125 billion, setting a record for IPO financing in global history. Alibaba's total market value reached US $228.5 billion, exceeding the GDP of more than 100 countries.</p><p><img src=\"https://static.tigerbbs.com/b666ad1064a3f877e706adaec7dfcd17\" tg-width=\"1080\" tg-height=\"566\" referrerpolicy=\"no-referrer\"></p><p>▲ Jack Ma at Alibaba's US Listing Site in 2014</p><p><b>A number of American securities firms and international capital shared this capital feast.</b>Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan Chase, Morgan Stanley, etc. are among them.</p><p>When Alibaba landed on the New York Stock Exchange, SoftBank held 34.4% of the shares and was the largest shareholder; Yahoo holds 22.6% of the shares, ranking second. Based on the opening price of Alibaba's listing alone, the market value of SoftBank and Yahoo's holdings has reached 78.604 billion US dollars and 51.641 billion US dollars respectively, not counting the part they cashed out from Ali before.</p><p>2014 was another peak of Chinese Internet companies going public in the United States. In addition to Ali, JD.COM, Weibo, Tuniu, Zhaopin Recruitment, etc. have also landed on the New York Stock Exchange and Nasdaq successively, and a total of 12 Internet companies have been listed in the United States throughout the year.</p><p>However, just the month that Alibaba went public, the U.S. Congressional China Economic and Security Review Committee (UCESRC) issued a report called<b>Risks of Chinese Internet Companies on American Stock Exchanges</b>Investigation report of.</p><p>The report uses 17 pages to point out various risks related to the listing of Chinese Internet companies, pointing out that the VIE architecture is not trustworthy. \"Many U.S. legal experts believe that the VIE structure is technically illegal under Chinese law and advise U.S. investors not to make such investments,\" UCESRC declared.</p><p>On the night of Double Eleven in the same year, Jack Ma accepted a 20-minute media interview at Alibaba headquarters in Hangzhou. When talking about Alipay's listing, he made a direct statement:<b>\"For various reasons, Alibaba has no way to list on the A-share market, so we hope that Alipay can be listed on China's A-share market in the future.\"</b></p><p>Obviously, Jack Ma understood Chen Qizong's words. To further understand this statement, we also need to pull the timeline back to the Alipay split incident three years ago.</p><p>In the first quarter of 2011, the People's Bank of China required payment enterprises applying for payment licenses to make a statement on the shareholding ratio of foreign capital. In May, Jack Ma changed the ownership of Alipay, terminating Alibaba Group's control agreement on Zhejiang Alibaba. Zhejiang Alibaba is a wholly-owned holding company of Alipay. This means that,<b>Alipay has changed from a foreign holding company to a purely domestic company.</b></p><p><img src=\"https://static.tigerbbs.com/86b9f8383885bec01116a82dcc7cc0da\" tg-width=\"449\" tg-height=\"329\" referrerpolicy=\"no-referrer\"></p><p>▲ Alipay spin-off equity changes</p><p>However, Jack Ma has not reached an agreement with the board of directors before this round of equity changes. After what was done was done, Jack Ma gave corresponding compensation to the two major shareholders of Yahoo and SoftBank.</p><p>On July 29, 2011, Alibaba Group, Yahoo and SoftBank formally signed an agreement on the Alipay equity transfer incident. Alipay Holdings promised to give Alibaba Group a one-time cash return when it went public. The return amount is 37.5% of the total market value of Alipay's IPO price at the time of listing, not less than US $2 billion and not more than US $6 billion.</p><p>For this reason, Jack Ma is blamed for \"dishonesty\" and \"undermining foreign investors' confidence in Chinese concept stocks VIE\". He rarely took the initiative to accept a large-scale exclusive interview with domestic media, and came forward to explain that everything was for Alipay to obtain a payment license in compliance.</p><p>\"I said, brother, if you start a small joint venture, it's okay.<b>What you are engaged in is Alipay, finance, and you are touching sensitive areas more and more. Finance is data, and something will definitely go wrong.</b>Yang didn't believe it, but then they did. \" Jack Ma said in an exclusive interview with Esquire.</p><p>But at that time, most people thought that Jack Ma was using the government as a shield, and most of them laughed at it. Jack Ma quit Weibo angrily.</p><p>Before quitting, Jack Ma sent out his last Weibo. No text, just punctuation:<b>Question marks, exclamation marks, and a string of ellipses</b>。</p><p>Three years after the spin-off of Alipay, Ant Financial was established in 2014, entering inclusive finance from the payment field.</p><p>Six years later, just before the listing of Ant Financial, Jack Ma gave that famous speech at the Bund Financial Summit at the end of October 2020. On November 3, the Shanghai Stock Exchange and the Hong Kong Stock Exchange successively issued emergency notices to suspend Ant Financial's listing on the Science and Technology Innovation Board and H shares.</p><p>At this time, everyone suddenly realized.<b>Nine years ago, Jack Ma did not overestimate the determination of the Chinese government.</b></p><p><b>03</b></p><p><b>Flood into the sea</b></p><p><b>A-Share and H-Share New Economic Reform (2018-2019)</b></p><p>During the two sessions in 2018, Liu Shiyu, then chairman of the China Securities Regulatory Commission, talked about the overseas listing of China's new economy companies, saying that due to the specific institutional environment and market capacity at that time, some new economy companies in China chose to list overseas, which is a good thing. But it is also a pity that the country has not enjoyed the fruits of their growth.</p><p><b>\"Entering a new era, this regret can't happen again.\"</b>Liu Shiyu said.</p><p>\"Standing on the wind, pigs can fly.\" Lei Jun, who said this sentence, once again pushed Xiaomi to the wind of the times.<b>He wants Xiaomi to become the first Internet company to list mainland A-shares and Hong Kong H-shares simultaneously.</b></p><p>On May 3, 2018, Lei Jun personally flew to Hong Kong to visit Li Ka-shing, the richest man in Hong Kong, holding two Xiaomi mobile phones. On the same day, Xiaomi submitted its listing prospectus to the Hong Kong Stock Exchange. Li Ka-shing's love general Huo Jianning confirmed to the media that Li Ka-shing spent HK $230 million to subscribe for Xiaomi shares. In addition to Li Ka-shing, Jack Ma and Pony Ma, two major domestic Internet giants, also subscribed for Xiaomi shares.</p><p><img src=\"https://static.tigerbbs.com/c1dfd540577403bd287f47c1209b66c3\" tg-width=\"460\" tg-height=\"304\" referrerpolicy=\"no-referrer\"></p><p>▲ Lei Jun meets Li Ka-shing</p><p>In the mainland, Xiaomi even set a 12-day \"lightning\" meeting record. On June 7 of the same year, Xiaomi applied to the China Securities Regulatory Commission for the issuance of CDR (Depositary Receipt) for listing, which was accepted on the same day. On the 14th, Xiaomi updated its prospectus and received feedback from the China Securities Regulatory Commission that night, which is scheduled to be reviewed at the meeting on the 19th.</p><p>At that time,<b>China Securities Regulatory Commission and Hong Kong Stock Exchange are scrambling to promote the listing reform of the new economy.</b></p><p>In December 2017, the Hong Kong Stock Exchange issued the Market Consultation Summary of the Framework Consultation Document on the Proposed Establishment of Innovation Board, announcing the acceptance of new economy companies with different voting rights structures to list in Hong Kong.</p><p>Three months later, the General Office of the State Council forwarded the China Securities Regulatory Commission's \"Several Opinions on Carrying out the Pilot Program of Domestic Issuance of Stocks or Depositary Receipts by Innovative Enterprises\", allowing new economy enterprises listed overseas to issue CDRs (depositary receipts) in the mainland A-share market, and promoting new economy enterprises including the Internet to return to A-share listing.</p><p>However, Xiaomi was suddenly stopped from listing on mainland CDR. On June 14, 2018, the China Securities Regulatory Commission issued 84 questions against Xiaomi. Five days later, Xiaomi announced that it would postpone the meeting of the issuance review committee to review the company's CDR issuance application. After listing in Hong Kong first, choose the opportunity to list in China by issuing CDRs.</p><p>The Hong Kong listing has also been full of twists and turns. On July 9 of that year, Xiaomi completed its listing on the Hong Kong Stock Exchange. On the day of listing, Xiaomi shares were included in the comprehensive constituent stocks of the Hang Seng Index and will enter the Hong Kong Stock Connect under normal circumstances, allowing investors from mainland China to directly purchase Xiaomi shares.</p><p>Unexpectedly, the Shanghai and Shenzhen Stock Exchanges suddenly issued a notice on July 14th, temporarily refusing to include the shares of companies with different rights, foreign companies and stapled securities in the scope of Hong Kong Stock Connect on the grounds that \"mainland investors are not familiar with them\". Xiaomi was shut out.</p><p>Two days later, Li Xiaojia, CEO of Hong Kong Stock Exchange, flew from Hong Kong to Beijing urgently to meet and negotiate with the relevant person in charge of China Securities Regulatory Commission. \"We have been communicating with the mainland China Securities Regulatory Commission for weeks and months. It's best to take it all in this time and move forward according to the normal Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect procedures. But mainland exchanges may have some different opinions.\" Li Xiaojia said.</p><p><b>This dispute is related to the future direction of Chinese Internet companies' listing. Can the door to a new era be opened?</b></p><p>For a long time, Chinese Internet companies have only one choice to go public in the United States, because mainland A-shares and Hong Kong H-shares did not accept the structure of different rights for the same share in the past. Even if HKEx is determined to reform, poor liquidity will still become a key constraint for Internet companies to go public in Hong Kong.</p><p>Only when Hong Kong Stock Connect accepts new economy companies and huge amounts of funds from mainland China can go south, can the door to the eastern world truly open to Internet companies.</p><p><b>The storm is temporary and the direction is certain.</b></p><p>In 2018, the Hong Kong Stock Exchange won the first place in the IPO rankings of global exchanges, and the annual IPO fundraising amount reached HK $277.85 billion, setting a new high since 2010.</p><p>A total of 28 new economy companies and biotechnology companies went public in Hong Kong throughout the year. Among them, Xiaomi and Meituan ranked the second and third largest companies in Hong Kong listed fundraising with HK $42.61 billion and HK $33.14 billion respectively.</p><p>In October 2019, the Shanghai Stock Exchange and the Shenzhen Stock Exchange announced that Xiaomi and Meituan were included in the Hong Kong Stock Connect.</p><p>Taking advantage of this momentum, Chinese Internet companies, including Ali, Netease, JD.COM, etc., have returned from overseas one after another, rushing to go to Hong Kong for secondary listing. By 2021, the Hong Kong market has gathered eight Internet giants: Tencent, Ali, Meituan, Kuaishou, JD.com, Xiaomi, Baidu, and NetEase.</p><p><img src=\"https://static.tigerbbs.com/dd1e5900f6cb5582296cd123573d40b6\" tg-width=\"1080\" tg-height=\"570\" referrerpolicy=\"no-referrer\"></p><p>Data source: Hong Kong Exchange</p><p>At the same stage, the listing of Chinese Internet companies in the United States ushered in the third peak. In 2018 and 2019, 38 and 32 Chinese companies went public in the United States respectively, most of which were mainly Internet new economy companies, including iQiyi, Douyu, NetEase Youdao, etc.</p><p>In October 2019, China and the United States reached a consensus on the retrieval of audit working papers of companies listed in the United States audited by Hong Kong accounting firms and deposited in mainland China. In response to a reporter's question, the China Securities Regulatory Commission said that the two sides \"maintain a smooth cooperative relationship\".</p><p>Everything seemed thriving.</p><p>People didn't expect that just a year later,<b>New crises spew out like volcanic lava, accumulated for a long time</b>。</p><p><b>04</b></p><p><b>Era of new crisis</b></p><p><b>The plight and future of Didi, Byte, and Pinduoduo (2020-today)</b></p><p>July 1st, the 100th anniversary of the founding of the Party. In the early morning of the same day, Didi went public in the United States, raising US $4.4 billion.</p><p>This is the largest IPO of a Chinese company in the United States since 2014. There are no photos of ringing the bell, no announcement on official website, few media reports, and employees do not send friends.</p><p>On July 2nd, the China Cyber Security Review Office issued an announcement stating that in order to prevent national data security risks, safeguard national security and protect public interests, the \"Didi Chuxing\" will be reviewed in accordance with the National Security Law and the Cyber Security Law. During the review, \"Didi Chuxing\" stopped registering new users. Didi only appeared on Weibo's hot searches and media headlines when it went public.</p><p>On July 9th, all 25 apps owned by Didi Company were removed from the shelves.</p><p>Ray Dalio, founder of Bridgewater Fund, the world's largest hedge fund, once published a 20,000-word article \"Changing World Order\" on his LinkedIn homepage. He pointed out that the \"Populism Index\", which measures global conflicts, has now reached an all-time high.</p><p>\"We are heading into the abyss of polarization and populism.\" Dalio warned,<b>The polarization between the rich and the poor, political polarization and extreme nationalism we are facing today are very similar to those during World War II.</b></p><p><img src=\"https://static.tigerbbs.com/82a4ead3b25817350b19c65a0fb2c2ba\" tg-width=\"864\" tg-height=\"311\" referrerpolicy=\"no-referrer\"></p><p>▲ The polarization between the rich and the poor leads to extreme nationalism at this stage is similar to that of World War II</p><p>Data source: Bridgewater Fund</p><p>On March 25, 2021, the U.S. Securities and Exchange Commission (SEC) issued an announcement to adopt the final amendment to the Holding Foreign Companies Accountable Act (HFCAA). The bill stipulates,<b>Foreign issuers who fail to meet the U.S. Public Company Accounting Oversight Board (PCAOB) inspection requirements for accounting firms for three consecutive years will be delisted and delisted.</b></p><p>Chinese Foreign Ministry spokesperson Hua Chunying responded at the press conference: \"HFCAA is completely unreasonable political suppression of Chinese listed companies in the United States, seriously distorting the basic principles of market economy that the United States has always advertised, and depriving American investors and the American public of the opportunity to share the development dividends of Chinese enterprises.\"</p><p>According to official data from the US PCAOB, as of April 2020,<b>Among the foreign listed companies that do not accept PCAOB's audit papers, companies in mainland China and Hong Kong account for nearly 90%.</b></p><p>With Didi's silent listing, it successfully threw itself into the eye of the typhoon in the Sino-US stock market game storm.</p><p>On July 7th, WeChat official account, a subsidiary of People's Daily, published two reports commenting on the Didi incident: \"Didi is far from the level of employment to make the government work. If Didi dies later, the driver will change the platform to take orders, and we will change the platform to take a taxi, and our life will not be affected in any way.\"</p><p>On July 8, US Democratic Senator Chris Van Hollen called on the US Securities and Exchange Commission to thoroughly investigate Didi's listing.</p><p><b>The internet is in an eventful time. Some things look together and become intriguing.</b></p><p>Before the Didi incident, Huang Zheng stepped down as CEO of Pinduoduo in March this year; In May, Zhang Yiming stepped down as CEO of ByteDance.</p><p>Previously, many people regarded this as the result of Internet antitrust. But they missed a key clue:</p><p><b>Didi and Pinduoduo are both listed in the United States. As for ByteDance, Trump's ban on Tiktok says it all.</b></p><p><b>Tencent and Meituan, Pony Ma Huateng and Wang Xing, which are listed in Hong Kong, are still in the position of CEO.</b></p><p>Recently, all the Internet shocks around us are sending us a signal:</p><p><b>In the Sino-US stock market game, in the past, the situation that the United States actively attacked and China passively defended will become history. The determination and actions of China's supervision have begun to emerge.</b></p><p>Some Internet companies are still stuck in the habitual thinking of the first 20 years; Some Internet companies have sailed to new ports.</p><p><b>They are destined to usher in very different fates.</b></p><p><img src=\"https://static.tigerbbs.com/a76220741e2982f75e2d7176ce362e38\" tg-width=\"1080\" tg-height=\"608\" referrerpolicy=\"no-referrer\"></p>","source":"lsy1626307243676","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>Past of listing of Chinese Internet companies</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\">\nPast of listing of Chinese Internet companies\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">吴杨野餐会</strong><span class=\"h-time small\">2021-07-15 08:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>In 1983, Liu Gang graduated from Peking University Law School and was assigned to the Secretariat of the Ministry of Justice, responsible for writing daily reports for the minister.</p><p>A year later, he felt that his job content was boring and wanted to apply for transfer. He was advised that secretarial status might be promoted more easily.</p><p>In 1985, the state carried out the \"third echelon\" cadre reform. The Ministry of Justice selected young cadres to exercise at the grass-roots level, and Liu Gang was included. He voluntarily gave up his post in grass-roots organs and chose to be a grass-roots lawyer.</p><p>At the end of the training period, colleagues returned to the Ministry of Justice to continue their careers, but Liu Gang did not go back. He chose to stay in the law practice.</p><p>At that time, China's lawyer profession was just emerging, and everything was still in the ignorance period. Liu Gang's main business is debt collection.</p><p>Since then, he has lived the life of a \"debt collector migrant worker\": squeezing the hard seat of the train for two days and two nights, sleeping in Datongpu, which costs one dollar a night, running to catch up with the debtors, and avoiding the debtors' thugs and beatings...</p><p>The turning point came in 1989. The Ministry of Justice and the British Bar Association jointly launched a lawyer training project. After Liu Gang applied and passed the exam, he was selected to be sent to a law firm in London, England for internship training.</p><p>He wanted to do intellectual property rights that were hot in China at that time. But a senior partner at a British law firm advised him, \"I suggest you know about the capital market.\" Liu Gang asked, \"What is the capital market?\"</p><p><b>\"A country as big as China will have a capital market sooner or later.\"</b>The partner of the British law firm said.</p><p>In 1990, China ushered in its own capital market, and the Shanghai Stock Exchange and Shenzhen Stock Exchange opened successively.</p><p><img src=\"https://static.tigerbbs.com/99e63397642efd52b0b6a3d4dc5643f2\" tg-width=\"640\" tg-height=\"493\" referrerpolicy=\"no-referrer\"></p><p>▲ In the 1990s, investors lined up at the entrance of the Shanghai Stock Exchange</p><p>(Photography | China News Service Pan Sophie)</p><p>Two years later, China liberalized restrictions on private partnership law firms. Liu Gang and two friends rented an office outside Jianguomen and founded their own law firm: Commerce Law Firm.</p><p>In 2000, Liu Gang got a key opportunity in his career. At that time, Sina was hitting the Nasdaq listing. If successful, it will become the first Chinese Internet company to list in the United States.</p><p>Sina's listing entity is registered in the Cayman Islands. However, Chinese laws restrict foreign investment in the Internet field: foreign investment in China's Internet is prohibited, and foreign companies are also prohibited from conducting Internet business in China.</p><p>In order to bypass these investment restrictions, Liu Gang helped Sina design a complex control architecture. He connects foreign investors and Chinese companies through a series of complex legal contracts, so that overseas listed entities can control domestic operating entities through agreements without direct equity relationship.</p><p><b>Liu Gang used a paper VIE structure to open the curtain of overseas listing of Chinese Internet companies.</b></p><p>In April 2000, Sina successfully landed on Nasdaq in the United States. In June and July of the same year, NetEase and Sohu successively completed their listing on Nasdaq. China's three major portal websites are listed overseas, and Liu Gang is involved. This is very rare in the law profession.</p><p>Since then, for more than 20 years, almost all Chinese Internet companies have adopted the VIE structure of \"Sina Model\" when listing overseas. As of May 2021, a total of 248 Chinese companies have been listed in the United States, with a total market value of US $2.1 trillion. Among them, the number of Internet-related information technology companies is the largest, accounting for more than a quarter.</p><p><b>However, the VIE structure has also become the fulcrum of the stock market game between China and the United States in the next 20 years.</b></p><p>In Liu Gang's statement, the VIE structure \"enables overseas investment companies to control the operations of domestic companies without direct equity relationship\".</p><p>However, in the statement of the U.S. Congress, the VIE structure \"ensures that economic benefits flow to foreign investors, while the control of business operations remains with Chinese companies\".</p><p><b>This special structure has become a typical feature of Chinese concept stocks, and it has also laid the groundwork for controversy and crisis for Chinese Internet companies to list overseas in the past 20 years.</b></p><p>The ten-year history of overseas listing after the global financial crisis in 2008 is the key to help us understand the current situation of Chinese Internet companies. I've divided it into four phases, which are:</p><p><img src=\"https://static.tigerbbs.com/6e5b6f69c3b6db65256d2ee9f3c20b46\" tg-width=\"965\" tg-height=\"367\" referrerpolicy=\"no-referrer\"></p><p><b>01</b></p><p><b>Hunting Chinese companies</b></p><p><b>The first round of overseas listings and short selling (2010-2013)</b></p><p>On November 1, 2011, Zhou Hongyi rushed back to the company in the middle of the night and called a bunch of corresponding supervisors such as website, browser, investor relations, finance, legal affairs, and public relations.</p><p>At 9 o'clock that night, Citron Research, a short-selling agency, issued its first short-selling report against Qihoo 360 before the US stock market opened. An hour later, the report was sent to Zhou Hongyi. \"We were surprised when Citron shorted 360,\" he said.</p><p>On that day, Qihoo 360's stock fell by about 10%.</p><p>Seven months ago, Qihoo 360 was listed on the New York Stock Exchange. Along with it, a large number of Chinese companies landed in the US stock market.</p><p>After the 2008 financial crisis, the U.S. economy has recovered rapidly since 2009, and the international capital market has been active. At the same time, Chinese Internet companies are in a period of rapid expansion and urgently need funds.</p><p>A large number of Internet companies went to the United States to seek listing.<b>From 2010 to 2012, Internet companies such as AutoNavi Map, Qihoo 360, Youku, and Tudou successfully listed in the United States, starting an overseas boom of Chinese concept stocks.</b></p><p><img src=\"https://static.tigerbbs.com/53b96a1e444ead872f2cd9531b979af2\" tg-width=\"692\" tg-height=\"512\" referrerpolicy=\"no-referrer\"></p><p>▲ Changes in the number of Chinese companies listed in the United States from 1970 to 2020</p><p>Data source: Zero2IPO Research Center</p><p>In 2010, a total of about 50 Chinese concept stocks landed in the U.S. stock market, and the number of overseas listings of Chinese companies broke through the peak, which also attracted the attention of \"market vultures\" short-selling institutions.</p><p>Muddy Waters fired the first bullet. In 2010, Carson Block, the founder of Muddy Waters, issued a 30-page short-selling report of Oriental Paper. Oriental Paper's stock price plummeted, and Muddy Waters became famous in the first battle.</p><p>Subsequently, American short-selling institutions represented by Muddy Waters and Citron successively targeted Chinese concept stocks such as Focus Media, Qihoo 360, and New Oriental. Among them, Internet companies have become the hardest hit areas of Chinese concept stocks being hunted.</p><p>Under this round of short-selling institutions, more than 40 Chinese companies had to suspend trading and delist.<b>Chinese concept stocks collectively fell into a crisis of confidence.</b></p><p><b>VIE is a key target for American institutions to short Chinese companies.</b>\"There is a VIE structure in China's Internet industry. Americans think that if you don't have legal provisions, you will always feel confused,\" Zhou Hongyi said.</p><p>On July 17, 2012, New Oriental was investigated by the US Securities and Exchange Commission (SEC) due to the adjustment of VIE structure. Muddy Waters immediately released a short-selling report of more than 90 pages, pointing out that the VIE structure of New Oriental has huge hidden dangers and lacks control.</p><p>Within 48 hours, New Oriental's stock price fell by 60%, hitting a five-year low.</p><p>The New Oriental incident also caused the international market to worry about the VIE structure, and Chinese concept stocks generally fell sharply. Ctrip, Sina, etc. fell by more than 7%, while Dangdang, Qihoo 360, Netease, Sohu, etc. fell by more than 4%.</p><p>After the short-selling tide of Chinese concept stocks broke out, U.S. regulators made further strong attacks. In December 2012, the SEC launched an administrative lawsuit against Deloitte, Ernst & Young, KPMG, PricewaterhouseCoopers, and the China branch of BDO's five major accounting firms.</p><p>The SEC asked them to submit audit papers for nine Chinese concept stocks listed in the United States, but the Big Five accounting firms refused this request, unwilling to violate Chinese law.</p><p>This move has caused Chinese companies listed in the United States to fall into a situation where there is no auditor, forcing Chinese companies to delist.</p><p>The delisting tide of Chinese concept stocks is getting stronger and stronger. The number of Chinese companies listed in the United States decreased from more than 240 in 2010 to less than 200 in 2012.</p><p><img src=\"https://static.tigerbbs.com/2c640046a4853c23afbcdbf6ee3d55e5\" tg-width=\"500\" tg-height=\"339\" referrerpolicy=\"no-referrer\"></p><p>▲ Chinese concept stocks listed in the United States encountered a wave of short selling from 2010 to 2012</p><p>Data source: Guosheng Securities</p><p>Conflicts occur frequently, and China and the United States have incorporated audit cross-border law enforcement into the strategic economic dialogue. In 2013, the China Securities Regulatory Commission and the Ministry of Finance signed a law enforcement cooperation agreement with the US Listed Company Accounting Supervision Board (PCAOB) to formally carry out cross-border audit law enforcement cooperation.</p><p><b>However, the issues of data sovereignty and confidentiality are still difficult contradictions for China and the United States to coordinate.</b>All kinds of subsequent turmoil also arose as a result.</p><p><b>02</b></p><p><b>Shadows under the feast</b></p><p><b>Ali's listing and the review storm of Chinese concept stocks (2014-2017)</b></p><p>In September 2014, Jack Ma entered the UN headquarters. One of the purposes of his trip is to meet with UN Secretary-General Ban Ki-moon through the introduction of Chen Qizong, chairman of Hang Lung Group.</p><p>The two of them stood at the elevator entrance. When Ban Ki-moon came up, Chen Qizong said this to Jack Ma:</p><p>\"I know that Ali was forced to go public in the United States. Hong Kong does not have different rights for the same shares, so there is nothing you can do.<b>But Jack Ma, you have to be careful. Americans stretch their hands very long. One day he will give you trouble.</b>”</p><p>A week ago, Alibaba was successfully listed on the New York Stock Exchange on September 19th. Carnival flooded all over Wall Street.</p><p>That night, on the big black screen of the New York Stock Exchange, the numbers representing Alibaba's opening price kept rolling and continued to climb-70... 80... 90...</p><p>\"The opening price is 92.7!\" A voice shouted.</p><p>Jack Ma looked up and glanced excitedly at the numbers on the screen. He picked up his hammer and struck a golden bronze bell quickly. The crowd surrounding him immediately cheered, flashing lights one after another.</p><p>After more than 2 hours and 12 rounds of inquiries, Alibaba shares finally opened at 23:53 that night. The opening price was US $92.7, a 36.32% increase from the issue price of US $68. The total amount of financing reached US $34.125 billion, setting a record for IPO financing in global history. Alibaba's total market value reached US $228.5 billion, exceeding the GDP of more than 100 countries.</p><p><img src=\"https://static.tigerbbs.com/b666ad1064a3f877e706adaec7dfcd17\" tg-width=\"1080\" tg-height=\"566\" referrerpolicy=\"no-referrer\"></p><p>▲ Jack Ma at Alibaba's US Listing Site in 2014</p><p><b>A number of American securities firms and international capital shared this capital feast.</b>Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan Chase, Morgan Stanley, etc. are among them.</p><p>When Alibaba landed on the New York Stock Exchange, SoftBank held 34.4% of the shares and was the largest shareholder; Yahoo holds 22.6% of the shares, ranking second. Based on the opening price of Alibaba's listing alone, the market value of SoftBank and Yahoo's holdings has reached 78.604 billion US dollars and 51.641 billion US dollars respectively, not counting the part they cashed out from Ali before.</p><p>2014 was another peak of Chinese Internet companies going public in the United States. In addition to Ali, JD.COM, Weibo, Tuniu, Zhaopin Recruitment, etc. have also landed on the New York Stock Exchange and Nasdaq successively, and a total of 12 Internet companies have been listed in the United States throughout the year.</p><p>However, just the month that Alibaba went public, the U.S. Congressional China Economic and Security Review Committee (UCESRC) issued a report called<b>Risks of Chinese Internet Companies on American Stock Exchanges</b>Investigation report of.</p><p>The report uses 17 pages to point out various risks related to the listing of Chinese Internet companies, pointing out that the VIE architecture is not trustworthy. \"Many U.S. legal experts believe that the VIE structure is technically illegal under Chinese law and advise U.S. investors not to make such investments,\" UCESRC declared.</p><p>On the night of Double Eleven in the same year, Jack Ma accepted a 20-minute media interview at Alibaba headquarters in Hangzhou. When talking about Alipay's listing, he made a direct statement:<b>\"For various reasons, Alibaba has no way to list on the A-share market, so we hope that Alipay can be listed on China's A-share market in the future.\"</b></p><p>Obviously, Jack Ma understood Chen Qizong's words. To further understand this statement, we also need to pull the timeline back to the Alipay split incident three years ago.</p><p>In the first quarter of 2011, the People's Bank of China required payment enterprises applying for payment licenses to make a statement on the shareholding ratio of foreign capital. In May, Jack Ma changed the ownership of Alipay, terminating Alibaba Group's control agreement on Zhejiang Alibaba. Zhejiang Alibaba is a wholly-owned holding company of Alipay. This means that,<b>Alipay has changed from a foreign holding company to a purely domestic company.</b></p><p><img src=\"https://static.tigerbbs.com/86b9f8383885bec01116a82dcc7cc0da\" tg-width=\"449\" tg-height=\"329\" referrerpolicy=\"no-referrer\"></p><p>▲ Alipay spin-off equity changes</p><p>However, Jack Ma has not reached an agreement with the board of directors before this round of equity changes. After what was done was done, Jack Ma gave corresponding compensation to the two major shareholders of Yahoo and SoftBank.</p><p>On July 29, 2011, Alibaba Group, Yahoo and SoftBank formally signed an agreement on the Alipay equity transfer incident. Alipay Holdings promised to give Alibaba Group a one-time cash return when it went public. The return amount is 37.5% of the total market value of Alipay's IPO price at the time of listing, not less than US $2 billion and not more than US $6 billion.</p><p>For this reason, Jack Ma is blamed for \"dishonesty\" and \"undermining foreign investors' confidence in Chinese concept stocks VIE\". He rarely took the initiative to accept a large-scale exclusive interview with domestic media, and came forward to explain that everything was for Alipay to obtain a payment license in compliance.</p><p>\"I said, brother, if you start a small joint venture, it's okay.<b>What you are engaged in is Alipay, finance, and you are touching sensitive areas more and more. Finance is data, and something will definitely go wrong.</b>Yang didn't believe it, but then they did. \" Jack Ma said in an exclusive interview with Esquire.</p><p>But at that time, most people thought that Jack Ma was using the government as a shield, and most of them laughed at it. Jack Ma quit Weibo angrily.</p><p>Before quitting, Jack Ma sent out his last Weibo. No text, just punctuation:<b>Question marks, exclamation marks, and a string of ellipses</b>。</p><p>Three years after the spin-off of Alipay, Ant Financial was established in 2014, entering inclusive finance from the payment field.</p><p>Six years later, just before the listing of Ant Financial, Jack Ma gave that famous speech at the Bund Financial Summit at the end of October 2020. On November 3, the Shanghai Stock Exchange and the Hong Kong Stock Exchange successively issued emergency notices to suspend Ant Financial's listing on the Science and Technology Innovation Board and H shares.</p><p>At this time, everyone suddenly realized.<b>Nine years ago, Jack Ma did not overestimate the determination of the Chinese government.</b></p><p><b>03</b></p><p><b>Flood into the sea</b></p><p><b>A-Share and H-Share New Economic Reform (2018-2019)</b></p><p>During the two sessions in 2018, Liu Shiyu, then chairman of the China Securities Regulatory Commission, talked about the overseas listing of China's new economy companies, saying that due to the specific institutional environment and market capacity at that time, some new economy companies in China chose to list overseas, which is a good thing. But it is also a pity that the country has not enjoyed the fruits of their growth.</p><p><b>\"Entering a new era, this regret can't happen again.\"</b>Liu Shiyu said.</p><p>\"Standing on the wind, pigs can fly.\" Lei Jun, who said this sentence, once again pushed Xiaomi to the wind of the times.<b>He wants Xiaomi to become the first Internet company to list mainland A-shares and Hong Kong H-shares simultaneously.</b></p><p>On May 3, 2018, Lei Jun personally flew to Hong Kong to visit Li Ka-shing, the richest man in Hong Kong, holding two Xiaomi mobile phones. On the same day, Xiaomi submitted its listing prospectus to the Hong Kong Stock Exchange. Li Ka-shing's love general Huo Jianning confirmed to the media that Li Ka-shing spent HK $230 million to subscribe for Xiaomi shares. In addition to Li Ka-shing, Jack Ma and Pony Ma, two major domestic Internet giants, also subscribed for Xiaomi shares.</p><p><img src=\"https://static.tigerbbs.com/c1dfd540577403bd287f47c1209b66c3\" tg-width=\"460\" tg-height=\"304\" referrerpolicy=\"no-referrer\"></p><p>▲ Lei Jun meets Li Ka-shing</p><p>In the mainland, Xiaomi even set a 12-day \"lightning\" meeting record. On June 7 of the same year, Xiaomi applied to the China Securities Regulatory Commission for the issuance of CDR (Depositary Receipt) for listing, which was accepted on the same day. On the 14th, Xiaomi updated its prospectus and received feedback from the China Securities Regulatory Commission that night, which is scheduled to be reviewed at the meeting on the 19th.</p><p>At that time,<b>China Securities Regulatory Commission and Hong Kong Stock Exchange are scrambling to promote the listing reform of the new economy.</b></p><p>In December 2017, the Hong Kong Stock Exchange issued the Market Consultation Summary of the Framework Consultation Document on the Proposed Establishment of Innovation Board, announcing the acceptance of new economy companies with different voting rights structures to list in Hong Kong.</p><p>Three months later, the General Office of the State Council forwarded the China Securities Regulatory Commission's \"Several Opinions on Carrying out the Pilot Program of Domestic Issuance of Stocks or Depositary Receipts by Innovative Enterprises\", allowing new economy enterprises listed overseas to issue CDRs (depositary receipts) in the mainland A-share market, and promoting new economy enterprises including the Internet to return to A-share listing.</p><p>However, Xiaomi was suddenly stopped from listing on mainland CDR. On June 14, 2018, the China Securities Regulatory Commission issued 84 questions against Xiaomi. Five days later, Xiaomi announced that it would postpone the meeting of the issuance review committee to review the company's CDR issuance application. After listing in Hong Kong first, choose the opportunity to list in China by issuing CDRs.</p><p>The Hong Kong listing has also been full of twists and turns. On July 9 of that year, Xiaomi completed its listing on the Hong Kong Stock Exchange. On the day of listing, Xiaomi shares were included in the comprehensive constituent stocks of the Hang Seng Index and will enter the Hong Kong Stock Connect under normal circumstances, allowing investors from mainland China to directly purchase Xiaomi shares.</p><p>Unexpectedly, the Shanghai and Shenzhen Stock Exchanges suddenly issued a notice on July 14th, temporarily refusing to include the shares of companies with different rights, foreign companies and stapled securities in the scope of Hong Kong Stock Connect on the grounds that \"mainland investors are not familiar with them\". Xiaomi was shut out.</p><p>Two days later, Li Xiaojia, CEO of Hong Kong Stock Exchange, flew from Hong Kong to Beijing urgently to meet and negotiate with the relevant person in charge of China Securities Regulatory Commission. \"We have been communicating with the mainland China Securities Regulatory Commission for weeks and months. It's best to take it all in this time and move forward according to the normal Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect procedures. But mainland exchanges may have some different opinions.\" Li Xiaojia said.</p><p><b>This dispute is related to the future direction of Chinese Internet companies' listing. Can the door to a new era be opened?</b></p><p>For a long time, Chinese Internet companies have only one choice to go public in the United States, because mainland A-shares and Hong Kong H-shares did not accept the structure of different rights for the same share in the past. Even if HKEx is determined to reform, poor liquidity will still become a key constraint for Internet companies to go public in Hong Kong.</p><p>Only when Hong Kong Stock Connect accepts new economy companies and huge amounts of funds from mainland China can go south, can the door to the eastern world truly open to Internet companies.</p><p><b>The storm is temporary and the direction is certain.</b></p><p>In 2018, the Hong Kong Stock Exchange won the first place in the IPO rankings of global exchanges, and the annual IPO fundraising amount reached HK $277.85 billion, setting a new high since 2010.</p><p>A total of 28 new economy companies and biotechnology companies went public in Hong Kong throughout the year. Among them, Xiaomi and Meituan ranked the second and third largest companies in Hong Kong listed fundraising with HK $42.61 billion and HK $33.14 billion respectively.</p><p>In October 2019, the Shanghai Stock Exchange and the Shenzhen Stock Exchange announced that Xiaomi and Meituan were included in the Hong Kong Stock Connect.</p><p>Taking advantage of this momentum, Chinese Internet companies, including Ali, Netease, JD.COM, etc., have returned from overseas one after another, rushing to go to Hong Kong for secondary listing. By 2021, the Hong Kong market has gathered eight Internet giants: Tencent, Ali, Meituan, Kuaishou, JD.com, Xiaomi, Baidu, and NetEase.</p><p><img src=\"https://static.tigerbbs.com/dd1e5900f6cb5582296cd123573d40b6\" tg-width=\"1080\" tg-height=\"570\" referrerpolicy=\"no-referrer\"></p><p>Data source: Hong Kong Exchange</p><p>At the same stage, the listing of Chinese Internet companies in the United States ushered in the third peak. In 2018 and 2019, 38 and 32 Chinese companies went public in the United States respectively, most of which were mainly Internet new economy companies, including iQiyi, Douyu, NetEase Youdao, etc.</p><p>In October 2019, China and the United States reached a consensus on the retrieval of audit working papers of companies listed in the United States audited by Hong Kong accounting firms and deposited in mainland China. In response to a reporter's question, the China Securities Regulatory Commission said that the two sides \"maintain a smooth cooperative relationship\".</p><p>Everything seemed thriving.</p><p>People didn't expect that just a year later,<b>New crises spew out like volcanic lava, accumulated for a long time</b>。</p><p><b>04</b></p><p><b>Era of new crisis</b></p><p><b>The plight and future of Didi, Byte, and Pinduoduo (2020-today)</b></p><p>July 1st, the 100th anniversary of the founding of the Party. In the early morning of the same day, Didi went public in the United States, raising US $4.4 billion.</p><p>This is the largest IPO of a Chinese company in the United States since 2014. There are no photos of ringing the bell, no announcement on official website, few media reports, and employees do not send friends.</p><p>On July 2nd, the China Cyber Security Review Office issued an announcement stating that in order to prevent national data security risks, safeguard national security and protect public interests, the \"Didi Chuxing\" will be reviewed in accordance with the National Security Law and the Cyber Security Law. During the review, \"Didi Chuxing\" stopped registering new users. Didi only appeared on Weibo's hot searches and media headlines when it went public.</p><p>On July 9th, all 25 apps owned by Didi Company were removed from the shelves.</p><p>Ray Dalio, founder of Bridgewater Fund, the world's largest hedge fund, once published a 20,000-word article \"Changing World Order\" on his LinkedIn homepage. He pointed out that the \"Populism Index\", which measures global conflicts, has now reached an all-time high.</p><p>\"We are heading into the abyss of polarization and populism.\" Dalio warned,<b>The polarization between the rich and the poor, political polarization and extreme nationalism we are facing today are very similar to those during World War II.</b></p><p><img src=\"https://static.tigerbbs.com/82a4ead3b25817350b19c65a0fb2c2ba\" tg-width=\"864\" tg-height=\"311\" referrerpolicy=\"no-referrer\"></p><p>▲ The polarization between the rich and the poor leads to extreme nationalism at this stage is similar to that of World War II</p><p>Data source: Bridgewater Fund</p><p>On March 25, 2021, the U.S. Securities and Exchange Commission (SEC) issued an announcement to adopt the final amendment to the Holding Foreign Companies Accountable Act (HFCAA). The bill stipulates,<b>Foreign issuers who fail to meet the U.S. Public Company Accounting Oversight Board (PCAOB) inspection requirements for accounting firms for three consecutive years will be delisted and delisted.</b></p><p>Chinese Foreign Ministry spokesperson Hua Chunying responded at the press conference: \"HFCAA is completely unreasonable political suppression of Chinese listed companies in the United States, seriously distorting the basic principles of market economy that the United States has always advertised, and depriving American investors and the American public of the opportunity to share the development dividends of Chinese enterprises.\"</p><p>According to official data from the US PCAOB, as of April 2020,<b>Among the foreign listed companies that do not accept PCAOB's audit papers, companies in mainland China and Hong Kong account for nearly 90%.</b></p><p>With Didi's silent listing, it successfully threw itself into the eye of the typhoon in the Sino-US stock market game storm.</p><p>On July 7th, WeChat official account, a subsidiary of People's Daily, published two reports commenting on the Didi incident: \"Didi is far from the level of employment to make the government work. If Didi dies later, the driver will change the platform to take orders, and we will change the platform to take a taxi, and our life will not be affected in any way.\"</p><p>On July 8, US Democratic Senator Chris Van Hollen called on the US Securities and Exchange Commission to thoroughly investigate Didi's listing.</p><p><b>The internet is in an eventful time. Some things look together and become intriguing.</b></p><p>Before the Didi incident, Huang Zheng stepped down as CEO of Pinduoduo in March this year; In May, Zhang Yiming stepped down as CEO of ByteDance.</p><p>Previously, many people regarded this as the result of Internet antitrust. But they missed a key clue:</p><p><b>Didi and Pinduoduo are both listed in the United States. As for ByteDance, Trump's ban on Tiktok says it all.</b></p><p><b>Tencent and Meituan, Pony Ma Huateng and Wang Xing, which are listed in Hong Kong, are still in the position of CEO.</b></p><p>Recently, all the Internet shocks around us are sending us a signal:</p><p><b>In the Sino-US stock market game, in the past, the situation that the United States actively attacked and China passively defended will become history. The determination and actions of China's supervision have begun to emerge.</b></p><p>Some Internet companies are still stuck in the habitual thinking of the first 20 years; Some Internet companies have sailed to new ports.</p><p><b>They are destined to usher in very different fates.</b></p><p><img src=\"https://static.tigerbbs.com/a76220741e2982f75e2d7176ce362e38\" tg-width=\"1080\" tg-height=\"608\" referrerpolicy=\"no-referrer\"></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/QItPs3pB6CJ5Dn89MQYL2A\">吴杨野餐会</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/1fc1f5e2fa377c378fa230c10e0849a2","relate_stocks":{"160636":"互联网","161025":"移动互联"},"source_url":"https://mp.weixin.qq.com/s/QItPs3pB6CJ5Dn89MQYL2A","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111811630","content_text":"1983年，刘钢从北京大学法学院毕业，被分配到司法部秘书处，负责为部长撰写日常报告。\n一年后，他感觉工作内容枯燥，想申请调职。有人劝告他，秘书身份可能会更容易得到提升。\n1985年，国家推行“第三梯队”干部改革。司法部挑选年轻干部到基层锻炼，刘钢被列入其中。他主动放弃了基层机关的岗位，选择做一名基层律师。\n锻炼期满，同事们纷纷回到司法部继续职业生涯，但刘钢没有回去。他选择留在律师行业。\n当时，中国律师行业刚刚兴起，一切尚在蒙昧期。刘钢的主要业务是讨债。\n从此，他过上了“讨债民工”的生活：两天两夜挤火车硬座，睡一块钱一晚的大通铺，狂奔追赶欠款人，躲避债务人的打手与围殴……\n转折点出现在1989年。司法部和英国律师协会联合启动一个律师培训项目。刘钢申请并通过考试后，被选派往英国伦敦的一家律师事务所接受实习培训。\n他想做当时在中国大热的知识产权。但英国律所的一位高级合伙人建议他：“我建议你了解一下资本市场。”刘钢问：“什么是资本市场？”\n“中国那么大的国家，早晚会有资本市场。”那位英国律所合伙人说。\n1990年，中国迎来属于自己的资本市场，上海交易所和深圳交易所先后开业。\n\n▲1990年代，股民在上海交易所门口排队\n（摄影 | 中新社 潘索菲）\n两年后，中国放开私人合伙制律师事务所限制。刘钢和两个朋友在建国门外租下一间办公室，创办起自己的律师事务所：通商律师事务所。\n2000年，刘钢得到职业生涯的一次关键机会。当时新浪正在冲击纳斯达克上市。如果成功，它将成为第一家在美国上市的中国互联网公司。\n新浪的上市主体注册在开曼群岛。但中国法律对外资进入互联网领域存在限制：禁止外资投资中国互联网，也禁止外国公司在中国开展互联网业务。\n为了绕过这些投资限制，刘钢帮助新浪设计了一套复杂的控制架构。他将外国投资者和中国公司通过一系列复杂的法律合同相连接，使海外上市实体在没有直接股权关系下，通过协议控制国内的运营实体。\n刘钢用一纸VIE架构，拉开中国互联网公司海外上市的大幕。\n2000年4月，新浪成功登陆美国纳斯达克。同年6月、7月，网易和搜狐相继完成纳斯达克上市。中国三大门户网站海外上市，刘钢均参与其中。这在律师行业非常罕见。\n此后20余年，几乎所有中国互联网公司海外上市，均采取“新浪模式”的VIE架构。截至2021年5月，中国共有248家公司在美国上市，总市值高达2.1万亿美元。其中互联网相关的信息技术公司数量最多，比例达四分之一以上。\n然而，VIE架构也成为今后20年中美两国股市博弈的支点。\n在刘钢的表述里，VIE架构“使境外投资公司在没有直接股权关系的情况下，控制国内公司的运营”。\n但在美国国会的表述中，VIE 架构则“保证了经济利益流向外国投资者，同时对业务的经营控制留在中国公司”。\n这种特殊架构，成为中概股的典型特征，也为中国互联网公司20年海外上市路埋下争议与危机的伏笔。\n08年全球金融危机后的十年海外上市史，是帮助我们理解中国互联网公司目前处境的关键。我将其分为四个阶段，分别为：\n\n01\n围猎中国公司\n第一轮海外上市与做空潮（2010—2013）\n2011年11月1日，周鸿祎半夜赶回公司，把网址站、浏览器、投资者关系、财务、法务、公关等相应一堆主管都叫了过来。\n当晚9点，做空机构香橼研究（Citron Research）赶在美国股市开市前，发出了针对奇虎360公司的第一份做空报告。1个小时后，报告送到周鸿祎手中。“Citron做空360时，我们觉得很惊讶。”他表示。\n当天，奇虎360的股票跌去约10%。\n7个月前，奇虎360登陆美国纽交所上市。和它一同登陆美国股市的，还有一大批中国公司。\n08年金融危机后，美国经济2009年起快速复苏，国际资本市场活跃。同一时期，中国互联网公司正在飞速扩张期，迫切需要资金。\n大批互联网公司奔赴美国寻求上市。从2010年到2012年，高德地图、奇虎360、优酷、土豆等互联网公司先后成功在美国上市，开启海外的中概股热潮。\n\n▲1970-2020年中国公司赴美上市数量变化\n数据来源：清科研究中心\n2010 年共计约 50 家中概股登陆美股市场，中国公司海外上市的数量突破峰值，也吸引了“市场秃鹫”做空机构们的目光。\n浑水公司（Muddy Waters）射出第一颗子弹。2010 年，浑水创始人卡森·布洛克（Carson Block）抛出一份30页的东方纸业做空报告，东方纸业股价大跌，浑水一战成名。\n随后，以浑水、香橼为代表的美国做空机构，相继把枪口瞄准了分众传媒、奇虎360、新东方等中概股。其中互联网公司成为被围猎的中概股重灾区。\n此轮做空机构围猎下，超过 40 家中国企业不得不停牌、退市。中概股集体陷入信任危机。\nVIE是美国机构做空中国公司的一个关键靶子。“中国互联网行业存在VIE结构。美国人认为你没有法律规定，就永远觉得心里没底。”周鸿祎说。\n2012年7月17日，新东方因为VIE架构调整，遭受美国证券交易委员会（SEC）调查。浑水随即发布一份长达90多页的做空报告，指出新东方VIE结构存在巨大隐患，缺乏控制力。\n48小时内，新东方股价跌去60%，股价创5年新低。\n新东方事件同时引发国际市场担忧VIE架构，中概股普遍大跌。携程、新浪等跌幅超过7%，当当网、奇虎360、网易、搜狐等跌幅超过4%。\n中概股做空潮爆发后，美国监管方进一步强势出击。2012年12月，SEC 对德勤、安永、毕马威、普华永道，以及德豪五大会计师事务所中国分部发起行政诉讼。\nSEC要求他们提交9家在美上市的中概股审计底稿，但五大会计师事务所拒绝了这一要求，他们不愿触犯中国法律。\n这一举动导致在美上市的中国企业陷入没有审计方的境地，迫使中国公司摘牌退市。\n中概股退市潮越演越烈。在美上市的中国公司由2010的240余家，减少到2012年的不足200家。\n\n▲ 2010-2012年美国上市中概股遭遇做空潮\n数据来源：国盛证券\n冲突频发，中美两国将审计跨境执法纳入战略经济对话。2013 年，中国证监会和财政部与美国上市公司会计监管委员会（PCAOB） 签订执法合作协议，正式开展审计跨境执法合作。\n但数据主权和保密问题仍是中美难以协调的矛盾。后续种种风波，也因此而起。\n02\n盛宴下的暗影\n阿里上市与中概股审查风暴（2014—2017）\n2014年9月，马云步入联合国总部。他此行的目的之一，是通过恒隆集团董事长陈启宗引荐，与联合国秘书长潘基文见面。\n他们两个人站在电梯口，等潘基文上来时，陈启宗对马云说了这样一番话：\n“我知道阿里到美国上市是被逼的，香港没有同股不同权，你是没办法。但是马云你要小心，美国人的手是伸的很长很长的。总有一天他会给你麻烦。”\n一个星期前，阿里巴巴9月19日在美国纽交所成功挂牌上市。狂欢充斥着整个华尔街。\n当晚，纽交所黑色大屏幕上，代表阿里巴巴开盘价的数字不断滚动，持续攀升——70……80……90……\n“开盘价92.7！”一个声音大喊。\n马云抬起头，兴奋地看了一眼屏幕上的数字。他拿起锤子，快速敲击着一个金色铜钟。包围着他的人群随即欢呼起来，闪光灯此起彼伏。\n经过2个多小时、12轮询价，阿里巴巴股票在当晚23点53分最终开盘。开盘价92.7美元，比起发行价68美元大涨36.32%。融资总金额高达341.25亿美元，创下全球历史上IPO融资最高纪录。阿里巴巴总市值达到2285亿美元，超过100多个国家的GDP。\n\n▲ 2014年阿里巴巴美国上市现场的马云\n多家美国券商和国际资本分享了这次资本盛宴。花旗、瑞士信贷、德意志银行、高盛、摩根大通、摩根士丹利等均位列其中。\n阿里巴巴登陆纽交所时，软银持股34.4%，为第一大股东；雅虎持股比例22.6%，居第二位。仅按阿里巴巴上市开盘价来算，软银和雅虎的持股市值已分别高达786.04亿美元和516.41亿美元，这还不算他们此前从阿里套现的部分。\n2014年是中国互联网公司赴美上市的又一波高峰。除了阿里，京东、微博、途牛、智联招聘等也先后登陆美国纽交所和纳斯达克，全年共有12家互联网公司在美完成上市。\n然而，就在阿里巴巴上市当月，美国国会中国经济与安全审查委员会（UCESRC）发布了一份名为《中国互联网公司在美国证券交易所的风险》的调查报告。\n报告用17页篇幅指出针对中国互联网公司上市的各项风险，直指VIE架构不值得信任。UCESRC宣称：“许多美国法律专家认为，根据中国法律，VIE 结构在技术上是非法的，并建议美国投资者不要进行此类投资。”\n同年双十一当晚，马云在杭州阿里总部接受20分钟的媒体采访，谈到支付宝上市时直接表态：“由于各种原因，阿里巴巴没有办法在A股上市，所以我们希望未来支付宝能够在中国A股上市。”\n显然，马云听懂了陈启宗的话。而要进一步理解这个表态，我们还需要把时间线拉回到三年前的支付宝拆分事件上。\n2011 年第一季度，中国央行要求申请支付牌照的支付企业对外资的持股比例作出声明。5月，马云变更支付宝的所有权，终止了阿里巴巴集团对浙江阿里巴巴的控制协议。浙江阿里巴巴为支付宝的全资控股公司。这意味着，支付宝从外资控股变为了一家纯内资公司。\n\n▲ 支付宝分拆股权变更\n但马云此轮股权变更，此前并未跟董事会达成协议。木已成舟后，马云对雅虎和软银两位大股东给出了相应补偿。\n2011 年 7 月 29 日，阿里巴巴集团、雅虎和软银就支付宝股权转让事件正式签署协议。支付宝控股公司承诺上市时给以阿里巴巴集团一次性的现金回报。回报额为支付宝上市时 IPO 价总市值的 37.5%，不低于 20 亿美元且不超过 60 亿美元。\n马云为此背上“不守诚信”，“打击国外投资者对中概股VIE信心”的骂名。他罕见地主动接受国内媒体大篇幅独家专访，出面解释一切都是为了支付宝合规获取支付牌照。\n“我说，兄弟，你如果搞个小合资企业，没关系。你搞的是支付宝，是金融，越来越触及到敏感地带。金融是数据，一定会出问题的。杨致远不相信，但后来他们相信了。”马云在接受《时尚先生》专访时说。\n但当时，大多数人认为马云是拿政府做挡箭牌，对此抱以讥笑嘲讽居多。马云愤而退出微博。\n退出前，马云发出了最后一条微博。没有文字，只有标点：问号，叹号，以及一串省略号。\n支付宝分拆三年后，2014年蚂蚁金服成立，从支付领域进军普惠金融。\n六年后，就在蚂蚁金服上市前夕，马云2020年10月底在外滩金融峰会做出了那篇著名的演讲。11月3号，上交所和港交所先后发出紧急通知，暂缓蚂蚁金服科创板和H股上市。\n这时，大家才恍然大悟。九年前，马云没有高估中国政府的决心。\n03\n洪流入海\nA股、H股新经济改革（2018-2019）\n2018年两会期间，时任中国证监会主席刘士余谈到中国新经济公司海外上市时称，限于当时的特定制度环境和市场容量，一些主体在中国的新经济企业选择到境外上市，这是好事。但国内没有享受到它们增长的成果，也是一个遗憾。\n“进入新时代，这个遗憾就不能再发生了。”刘士余说。\n“站在风口上，猪都会飞。”说出这句话的雷军，再一次把小米推上时代风口。他要让小米成为第一个内地A股和香港H股同步上市的互联网公司。\n2018年5月3日，雷军手握两款小米手机，亲自飞往香港拜访香港首富李嘉诚。就在同一天，小米向港交所递交上市招股书。李嘉诚爱将霍建宁向媒体证实，李嘉诚斥资2.3亿港元认购小米股票。除了李嘉诚，国内两大互联网巨头马云、马化腾也一同认购小米股票。\n\n▲ 雷军会见李嘉诚\n在内地，小米更是创下12天“闪电”上会记录。同年6月7日，小米向中国证监会申请发行CDR（存托凭证）上市，同天被受理。14日，小米更新招股说明书，当晚收到证监会下发的反馈意见，定于19日上会审核。\n彼时，中国证监会和港交所正在争相推进新经济上市改革。\n2017年12月，港交所发布《有关建议设立创新板的框架咨询文件》的市场《咨询总结》，宣布接纳采用不同投票权架构的新经济公司赴港上市。\n3个月后，国务院办公厅转发证监会《关于开展创新企业境内发行股票或存托凭证试点的若干意见》，允许在境外上市的新经济企业在内地A股市场发行CDR（存托凭证），推动包括互联网在内的新经济企业回归A股上市。\n然而，小米突然被叫停在内地CDR上市。2018年6月14日，证监会针对小米发出84问。五天后，小米宣布，推迟召开发审委会议审核公司的CDR发行申请。先在香港上市之后，再择机通过发行CDR的方式在境内上市。\n香港上市也一波三折。当年7月9日，小米公司在港交所完成上市。上市当天，小米股票被纳入恒指综合成分股，按照正常情况将进入港股通，允许中国内地投资者直接购买小米股票。\n不料沪深交易所在7月14日突然发出通知，以“内地投资者不熟识”为由，暂拒同股不同权公司、外国公司股票及合订证券纳入港股通范围。小米公司被拒之门外。\n两天后，港交所CEO李小加紧急从香港飞往北京，与中国证监会相关负责人碰面谈判。“一直几个星期、几个月来我们都在跟内地证监会沟通，最好这次都包进去，按正常沪港通、深港通程序往前走。但是内地交易所可能有些不同意见。”李小加说。\n这次争端，关系着中国互联网公司上市的未来走向。通往新时代的大门能否打开？\n中国互联网公司长期只有赴美上市一个选择，皆因内地A股和香港H股过去不接受同股不同权架构。即使港交所锐意改革，流动性差仍将成为互联网公司赴港上市的关键掣肘。\n只有港股通接纳新经济公司，来自中国内地的巨量资金得以南下，东方世界的大门才能真正面向互联网公司开启。\n风波是暂时的，方向是确定的。\n2018年，港交所重新摘下全球交易所IPO排行榜第一名桂冠，全年IPO募资额高达2778.5亿港元，创下2010年以来新高。\n全年共有28家新经济公司及生物科技公司赴港上市。其中小米和美团以426.1亿港元和331.4亿港元，分列香港上市募资额年度第二、第三大公司。\n2019年10月，上交所与深交所发布公告，小米和美团纳入港股通。\n乘此势头，包括阿里、网易、京东等在内的中国互联网公司纷纷从海外回归，争相赴港二次上市。到2021年，香港市场已经集齐腾讯、阿里、美团、快手、京东、小米、百度、网易八大互联网巨头。\n\n数据来源：香港交易所\n同一阶段，中国互联网公司赴美上市迎来第三次高峰。2018年和2019 年分别有38 家和32 家中国公司赴美国上市，其中大多以互联网新经济企业为主，包括爱奇艺、斗鱼、网易有道等等。\n2019年10月，中美双方就香港会计师事务所审计的、存放在中国内地的在美上市公司审计工作底稿调取事宜达成共识。中国证监会答记者问时表示，双方“保持着畅通的合作关系”。\n一切都显得欣欣向荣。\n人们没有料到，就在一年之后，新的危机如火山熔岩般，积蓄已久，喷涌而出。\n04\n新危机时代\n滴滴、字节、拼多多们的困境与未来（2020-今天）\n7月1日，建党100周年大庆。当天凌晨，滴滴赴美上市，融资44亿美元。\n这场自2014年来中国公司在美国最大的IPO，没有敲钟照片，官网没有公告，媒体少有报道，员工不发朋友圈。\n7月2号，中国网络安全审查办公室发布公告称，为防范国家数据安全风险，维护国家安全，保障公共利益，依据《国家安全法》《网络安全法》对“滴滴出行”实施网络安全审查。审查期间“滴滴出行”停止新用户注册。滴滴上市，才出现在微博热搜和媒体头条上。\n7月9日，滴滴公司旗下25款app全体下架。\n全球最大的对冲基金桥水基金创始人瑞·达利欧（Ray Dalio）曾在其领英主页上发布2万字长文《改变中的世界秩序》。他指出，衡量全球冲突的“民粹主义指数”（Populism Index）如今已经达到历史高点。\n“我们正在走向两极分化和民粹主义的深渊。”达利欧警告，今天我们面对的贫富分化、政治两极化和极端民族主义，和二战时期极为相似。\n\n▲ 贫富分化导致极端民族主义，现阶段与二战时期类似\n数据来源：桥水基金\n2021年3月25日，美国证券交易委员会（SEC）发布公告，通过《外国公司问责法案》（HFCAA）最终修正案。法案规定，外国发行人连续三年不能满足美国公众公司会计监督委员会（PCAOB）对会计师事务所检查要求的，将被摘牌退市。\n中国外交部发言人华春莹在记者会上回应称：“HFCAA完全是对中国在美上市企业的无理政治打压，严重扭曲美国自己一向标榜的市场经济基本准则，也剥夺了美国投资者和美国公众分享中国企业发展红利的机会。”\n美国PCAOB官方数据显示，截止到2020年4月，不接受PCAOB检查审计底稿的外国上市企业中，中国内地和香港的企业占近90%。\n滴滴用静默上市，成功把自己扔进了中美股市博弈风暴中的台风眼。\n7月7日，人民日报旗下“踏浪青年”公众号，连发两篇报道评论滴滴事件：“滴滴远没有到挟就业以令政府的程度。如果之后滴滴死了，司机换一个平台接单，我们换一个平台打车，生活不会受到任何影响。”\n7月8日，美国民主党参议员Chris Van Hollen呼吁美国证交会彻底调查滴滴上市事件。\n互联网正值多事之秋。一些事情连起来看，变得耐人寻味。\n滴滴事件之前，今年3月，黄峥卸任拼多多CEO；5月，张一鸣卸任字节跳动CEO。\n此前不少人将这看做互联网反垄断的结果。但他们忽略了一条关键线索：\n滴滴、拼多多均在美国上市。至于字节跳动，特朗普对Tiktok的禁令就已经说明了一切。\n而在香港上市的腾讯与美团，马化腾和王兴至今安坐CEO之位。\n最近所有在我们身边接连发生的互联网震动，都在向我们传递出一个信号：\n中美股市博弈中，过去美国积极进攻，中国被动防守的局面将成为历史。中国监管的决心和行动，已经初露端倪。\n有的互联网公司，还停留在前20年的惯性思维里；有的互联网公司已经驶向新港口。\n他们注定迎来截然不同的命运。","news_type":1,"symbols_score_info":{"160636":0.9,"161025":0.9}},"isVote":1,"tweetType":1,"viewCount":232,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":145563229,"gmtCreate":1626230880061,"gmtModify":1703755986005,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/145563229","repostId":"2151560584","repostType":4,"repost":{"id":"2151560584","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1626207238,"share":"https://ttm.financial/m/news/2151560584?lang=en_US&edition=fundamental","pubTime":"2021-07-14 04:13","market":"us","language":"en","title":"S&P 500 and Nasdaq end down after hitting record highs","url":"https://stock-news.laohu8.com/highlight/detail?id=2151560584","media":"Reuters","summary":"JPMorgan drops amid low interest rates\nU.S. consumer prices surge in June\nBoeing slips on new produc","content":"<ul>\n <li>JPMorgan drops amid low interest rates</li>\n <li>U.S. consumer prices surge in June</li>\n <li>Boeing slips on new production problems for 787 Dreamliners</li>\n <li>Indexes: Dow -0.31%, S&amp;P 500 -0.35%, Nasdaq -0.38%</li>\n</ul>\n<p>(Updates following end of session)</p>\n<p>July 13 (Reuters) - The S&amp;P 500 and Nasdaq ended lower on Tuesday after hitting record highs earlier in the session, with investors digesting a jump in consumer prices in June and earnings from JPMorgan and Goldman Sachs that kicked off the quarterly reporting season.</p>\n<p>The S&amp;P 500 and Nasdaq reached fresh record highs but quickly fell into negative territory after an auction of 30-year Treasuries showed less demand than some investors expected and pushed yields higher.</p>\n<p>Data indicated U.S. consumer prices rose by the most in 13 years last month, while so-called core consumer prices surged 4.5% year over year, the largest rise since November 1991.</p>\n<p>Economists viewed the price surge, driven by travel-rated services and used automobiles, as mostly temporary, aligning with Federal Reserve Chair Jerome Powell's long-standing views.</p>\n<p>\"Any time you get an uptick in interest rates the stock market is going to get nervous, especially on a day like today,\" said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey.</p>\n<p>The S&amp;P 500 growth index dipped 0.05%, while the value index fell 0.70%.</p>\n<p>\"With growth outperforming value, the takeaway is clearly that inflation from a market perspective is not a real threat in the long term,\" said Keith Buchanan, a portfolio manager at GLOBALT Investments in Atlanta, Georgia.</p>\n<p>Ten of the 11 major S&amp;P 500 sector indexes ended lower, with real estate , consumer discretionary and financials each down more than 1%.</p>\n<p>JPMorgan Chase &amp; Co stock fell 1.5% after the company reported blockbuster quarterly profit growth but warned that the sunny outlook would not make for blockbuster revenues in the short term due to low interest rates.</p>\n<p>Goldman Sachs Group Inc dipped 1.2% after its quarterly earnings exceeded forecasts.</p>\n<p>Citigroup , Wells Fargo &amp; Co and Bank of America were due to report their quarterly results early on Wednesday.</p>\n<p>PepsiCo Inc gained 2.3% after raising its full-year earnings forecast, betting on accelerating demand as COVID-19 restrictions continue to ease.</p>\n<p>June-quarter earnings per share for S&amp;P 500 companies are expected to rise 66%, according to Refinitiv data, with investors questioning how long Wall Street's rally would last after a 16% rise in the benchmark index so far this year.</p>\n<p>All eyes now turn to Fed Chair Jerome Powell's congressional testimony on Wednesday and Thursday for his comments about rising price pressures and monetary support going forward.</p>\n<p>The Dow Jones Industrial Average fell 0.31% to end at 34,888.79 points, while the S&amp;P 500 lost 0.35% to 4,369.21.</p>\n<p>The Nasdaq Composite dropped 0.38% to 14,677.65.</p>\n<p>Conagra Brands Inc dropped 5.4% after the packaged foods company warned that higher raw material and ingredient costs would take a bigger bite out of its profit this year than previously estimated.</p>\n<p>Boeing Co fell 4.2% after the Federal Aviation Administration said late on Monday some undelivered 787 Dreamliners have a new manufacturing quality issue.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 2.85-to-1 ratio; on Nasdaq, a 3.06-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 39 new 52-week highs and no new lows; the Nasdaq Composite recorded 61 new highs and 73 new lows.</p>\n<p>Volume on U.S. exchanges was 9.5 billion shares, compared with the 10.5 billion average for the full session over the last 20 trading days.</p>\n<p>(Additional reporting by Devik Jain and Shreyashi Sanyal in Bengaluru; Editing by Cynthia Osterman)</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>S&P 500 and Nasdaq end down after hitting record highs</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; 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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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nS&P 500 and Nasdaq end down after hitting record highs\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-14 04:13</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li>JPMorgan drops amid low interest rates</li>\n <li>U.S. consumer prices surge in June</li>\n <li>Boeing slips on new production problems for 787 Dreamliners</li>\n <li>Indexes: Dow -0.31%, S&amp;P 500 -0.35%, Nasdaq -0.38%</li>\n</ul>\n<p>(Updates following end of session)</p>\n<p>July 13 (Reuters) - The S&amp;P 500 and Nasdaq ended lower on Tuesday after hitting record highs earlier in the session, with investors digesting a jump in consumer prices in June and earnings from JPMorgan and Goldman Sachs that kicked off the quarterly reporting season.</p>\n<p>The S&amp;P 500 and Nasdaq reached fresh record highs but quickly fell into negative territory after an auction of 30-year Treasuries showed less demand than some investors expected and pushed yields higher.</p>\n<p>Data indicated U.S. consumer prices rose by the most in 13 years last month, while so-called core consumer prices surged 4.5% year over year, the largest rise since November 1991.</p>\n<p>Economists viewed the price surge, driven by travel-rated services and used automobiles, as mostly temporary, aligning with Federal Reserve Chair Jerome Powell's long-standing views.</p>\n<p>\"Any time you get an uptick in interest rates the stock market is going to get nervous, especially on a day like today,\" said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey.</p>\n<p>The S&amp;P 500 growth index dipped 0.05%, while the value index fell 0.70%.</p>\n<p>\"With growth outperforming value, the takeaway is clearly that inflation from a market perspective is not a real threat in the long term,\" said Keith Buchanan, a portfolio manager at GLOBALT Investments in Atlanta, Georgia.</p>\n<p>Ten of the 11 major S&amp;P 500 sector indexes ended lower, with real estate , consumer discretionary and financials each down more than 1%.</p>\n<p>JPMorgan Chase &amp; Co stock fell 1.5% after the company reported blockbuster quarterly profit growth but warned that the sunny outlook would not make for blockbuster revenues in the short term due to low interest rates.</p>\n<p>Goldman Sachs Group Inc dipped 1.2% after its quarterly earnings exceeded forecasts.</p>\n<p>Citigroup , Wells Fargo &amp; Co and Bank of America were due to report their quarterly results early on Wednesday.</p>\n<p>PepsiCo Inc gained 2.3% after raising its full-year earnings forecast, betting on accelerating demand as COVID-19 restrictions continue to ease.</p>\n<p>June-quarter earnings per share for S&amp;P 500 companies are expected to rise 66%, according to Refinitiv data, with investors questioning how long Wall Street's rally would last after a 16% rise in the benchmark index so far this year.</p>\n<p>All eyes now turn to Fed Chair Jerome Powell's congressional testimony on Wednesday and Thursday for his comments about rising price pressures and monetary support going forward.</p>\n<p>The Dow Jones Industrial Average fell 0.31% to end at 34,888.79 points, while the S&amp;P 500 lost 0.35% to 4,369.21.</p>\n<p>The Nasdaq Composite dropped 0.38% to 14,677.65.</p>\n<p>Conagra Brands Inc dropped 5.4% after the packaged foods company warned that higher raw material and ingredient costs would take a bigger bite out of its profit this year than previously estimated.</p>\n<p>Boeing Co fell 4.2% after the Federal Aviation Administration said late on Monday some undelivered 787 Dreamliners have a new manufacturing quality issue.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 2.85-to-1 ratio; on Nasdaq, a 3.06-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 39 new 52-week highs and no new lows; the Nasdaq Composite recorded 61 new highs and 73 new lows.</p>\n<p>Volume on U.S. exchanges was 9.5 billion shares, compared with the 10.5 billion average for the full session over the last 20 trading days.</p>\n<p>(Additional reporting by Devik Jain and Shreyashi Sanyal in Bengaluru; Editing by Cynthia Osterman)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF",".SPX":"S&P 500 Index","NDAQ":"纳斯达克OMX交易所",".DJI":"道琼斯","SQQQ":"纳指三倍做空ETF","PSQ":"做空纳斯达克100指数ETF-ProShares","QQQ":"纳指100ETF","UPRO":"三倍做多标普500ETF-ProShares","SH":"做空标普500-Proshares","SPXU":"三倍做空标普500ETF-ProShares","SSO":"2倍做多标普500ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares","OEX":"标普100","TQQQ":"纳指三倍做多ETF","SPY":"标普500ETF","IVV":"标普500ETF-iShares","SDS":"两倍做空标普500 ETF-ProShares","OEF":"标普100指数ETF-iShares","QID":"两倍做空纳斯达克指数ETF-ProShares",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2151560584","content_text":"JPMorgan drops amid low interest rates\nU.S. consumer prices surge in June\nBoeing slips on new production problems for 787 Dreamliners\nIndexes: Dow -0.31%, S&P 500 -0.35%, Nasdaq -0.38%\n\n(Updates following end of session)\nJuly 13 (Reuters) - The S&P 500 and Nasdaq ended lower on Tuesday after hitting record highs earlier in the session, with investors digesting a jump in consumer prices in June and earnings from JPMorgan and Goldman Sachs that kicked off the quarterly reporting season.\nThe S&P 500 and Nasdaq reached fresh record highs but quickly fell into negative territory after an auction of 30-year Treasuries showed less demand than some investors expected and pushed yields higher.\nData indicated U.S. consumer prices rose by the most in 13 years last month, while so-called core consumer prices surged 4.5% year over year, the largest rise since November 1991.\nEconomists viewed the price surge, driven by travel-rated services and used automobiles, as mostly temporary, aligning with Federal Reserve Chair Jerome Powell's long-standing views.\n\"Any time you get an uptick in interest rates the stock market is going to get nervous, especially on a day like today,\" said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey.\nThe S&P 500 growth index dipped 0.05%, while the value index fell 0.70%.\n\"With growth outperforming value, the takeaway is clearly that inflation from a market perspective is not a real threat in the long term,\" said Keith Buchanan, a portfolio manager at GLOBALT Investments in Atlanta, Georgia.\nTen of the 11 major S&P 500 sector indexes ended lower, with real estate , consumer discretionary and financials each down more than 1%.\nJPMorgan Chase & Co stock fell 1.5% after the company reported blockbuster quarterly profit growth but warned that the sunny outlook would not make for blockbuster revenues in the short term due to low interest rates.\nGoldman Sachs Group Inc dipped 1.2% after its quarterly earnings exceeded forecasts.\nCitigroup , Wells Fargo & Co and Bank of America were due to report their quarterly results early on Wednesday.\nPepsiCo Inc gained 2.3% after raising its full-year earnings forecast, betting on accelerating demand as COVID-19 restrictions continue to ease.\nJune-quarter earnings per share for S&P 500 companies are expected to rise 66%, according to Refinitiv data, with investors questioning how long Wall Street's rally would last after a 16% rise in the benchmark index so far this year.\nAll eyes now turn to Fed Chair Jerome Powell's congressional testimony on Wednesday and Thursday for his comments about rising price pressures and monetary support going forward.\nThe Dow Jones Industrial Average fell 0.31% to end at 34,888.79 points, while the S&P 500 lost 0.35% to 4,369.21.\nThe Nasdaq Composite dropped 0.38% to 14,677.65.\nConagra Brands Inc dropped 5.4% after the packaged foods company warned that higher raw material and ingredient costs would take a bigger bite out of its profit this year than previously estimated.\nBoeing Co fell 4.2% after the Federal Aviation Administration said late on Monday some undelivered 787 Dreamliners have a new manufacturing quality issue.\nDeclining issues outnumbered advancing ones on the NYSE by a 2.85-to-1 ratio; on Nasdaq, a 3.06-to-1 ratio favored decliners.\nThe S&P 500 posted 39 new 52-week highs and no new lows; the Nasdaq Composite recorded 61 new highs and 73 new lows.\nVolume on U.S. exchanges was 9.5 billion shares, compared with the 10.5 billion average for the full session over the last 20 trading days.\n(Additional reporting by Devik Jain and Shreyashi Sanyal in Bengaluru; Editing by Cynthia Osterman)","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"ESmain":0.9,"SQQQ":0.9,"QID":0.9,"MNQmain":0.9,".IXIC":0.9,"OEX":0.9,"SDS":0.9,".SPX":0.9,"TQQQ":0.9,".DJI":0.9,"NDAQ":0.9,"QLD":0.9,"PSQ":0.9,"SPY":0.9,"NQmain":0.9,"OEF":0.9,"QQQ":0.9,"UPRO":0.9,"SSO":0.9,"SPXU":0.9,"IVV":0.9,"SH":0.9}},"isVote":1,"tweetType":1,"viewCount":444,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142668037,"gmtCreate":1626146892729,"gmtModify":1703754285393,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"wow。。…。。。。。。。。。。。。。。。。。。。。","listText":"wow。。…。。。。。。。。。。。。。。。。。。。。","text":"wow。。…。。。。。。。。。。。。。。。。。。。。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/142668037","repostId":"1101858948","repostType":4,"isVote":1,"tweetType":1,"viewCount":612,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":141127656,"gmtCreate":1625842942175,"gmtModify":1703749765961,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":35,"commentSize":7,"repostSize":0,"link":"https://ttm.financial/post/141127656","repostId":"1161633079","repostType":4,"repost":{"id":"1161633079","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1625842702,"share":"https://ttm.financial/m/news/1161633079?lang=en_US&edition=fundamental","pubTime":"2021-07-09 22:58","market":"us","language":"en","title":"Didi Global falls as China orders 25 of its apps to be removed from app stores","url":"https://stock-news.laohu8.com/highlight/detail?id=1161633079","media":"Tiger Newspress","summary":"Didi Global(NYSE:DIDI)pared earlier gain and is now down 0.6% after China's cyberspace administratio","content":"<ul>\n <li>Didi Global(NYSE:DIDI)pared earlier gain and is now&nbsp;down 0.6%&nbsp;after China's cyberspace administration said it called for the removal of 25 DIDI related apps from the app store.</li>\n <li>The 25 apps appear to have serious violations of laws and regulation in connecting and using personal information, according to aChina regulatory website(Google translated).</li>\n <li>No website or platform shall provide access and download services for the 25 apps that have been removed from the app store, such as “Didi Travel” and “Didi Enterprise Edition.\"</li>\n <li>Earlier this week, the Chinese Cyberspace Administrationordered app stores to block downloadsof DiDi, Full Truck Alliance(NYSE:YMM)and Kaznhun Ltd.(NASDAQ:BZ)software due to alleged problems with security of customers’personal information.</li>\n <li>Yesterday,&nbsp;DiDi Global, Full Truck Alliance and Kanzhun’s stocks fall again as China crackdown grows.</li>\n</ul>","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>Didi Global falls as China orders 25 of its apps to be removed from app stores</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; 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.h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nDidi Global falls as China orders 25 of its apps to be removed from app stores\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-07-09 22:58</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li>Didi Global(NYSE:DIDI)pared earlier gain and is now&nbsp;down 0.6%&nbsp;after China's cyberspace administration said it called for the removal of 25 DIDI related apps from the app store.</li>\n <li>The 25 apps appear to have serious violations of laws and regulation in connecting and using personal information, according to aChina regulatory website(Google translated).</li>\n <li>No website or platform shall provide access and download services for the 25 apps that have been removed from the app store, such as “Didi Travel” and “Didi Enterprise Edition.\"</li>\n <li>Earlier this week, the Chinese Cyberspace Administrationordered app stores to block downloadsof DiDi, Full Truck Alliance(NYSE:YMM)and Kaznhun Ltd.(NASDAQ:BZ)software due to alleged problems with security of customers’personal information.</li>\n <li>Yesterday,&nbsp;DiDi Global, Full Truck Alliance and Kanzhun’s stocks fall again as China crackdown grows.</li>\n</ul>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DIDI":"滴滴(已退市)","YMM":"满帮","BZ":"BOSS直聘"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1161633079","content_text":"Didi Global(NYSE:DIDI)pared earlier gain and is now down 0.6% after China's cyberspace administration said it called for the removal of 25 DIDI related apps from the app store.\nThe 25 apps appear to have serious violations of laws and regulation in connecting and using personal information, according to aChina regulatory website(Google translated).\nNo website or platform shall provide access and download services for the 25 apps that have been removed from the app store, such as “Didi Travel” and “Didi Enterprise Edition.\"\nEarlier this week, the Chinese Cyberspace Administrationordered app stores to block downloadsof DiDi, Full Truck Alliance(NYSE:YMM)and Kaznhun Ltd.(NASDAQ:BZ)software due to alleged problems with security of customers’personal information.\nYesterday, DiDi Global, Full Truck Alliance and Kanzhun’s stocks fall again as China crackdown grows.","news_type":1,"symbols_score_info":{"YMM":0.9,"BZ":0.9,"DIDI":0.9}},"isVote":1,"tweetType":1,"viewCount":416,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":894028092,"gmtCreate":1628778666216,"gmtModify":1676529852851,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"....","listText":"....","text":"....","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/894028092","repostId":"2158253720","repostType":2,"repost":{"id":"2158253720","kind":"highlight","pubTimestamp":1628758171,"share":"https://ttm.financial/m/news/2158253720?lang=en_US&edition=fundamental","pubTime":"2021-08-12 16:49","market":"us","language":"zh","title":"Fed voting committee: May begin to reduce the scale of asset purchases by the end of this year","url":"https://stock-news.laohu8.com/highlight/detail?id=2158253720","media":"华尔街见闻","summary":"据金融时报，旧金山联储主席Mary Daly表示，鉴于目前经济反弹的力道，美联储可能会在今年底前开始缩减资产购买规模（taper）。\nDaly表示，随着越来越多的人重返工作岗位，消费者支出依然强劲，家","content":"<p>According to the Financial Times, San Francisco Fed President Mary Daly said that given the strength of the current economic rebound, the Fed may begin to taper asset purchases before the end of this year.</p><p>Daly said the strong recovery in household and business activity will continue to accelerate as more people return to work, consumer spending remains strong. Daly also believes that it is appropriate to start discussing taper.</p><p>Earlier, the Federal Reserve said it would continue to buy mortgage-backed securities and U.S. Treasury Bond until the inflation rate hovers at the average level of 2% and substantial further progress is made on the employment target. Those thresholds could be reached by the end of this year or early 2022, Daly said.</p><p>According to Fed officials, the main risk to the economic outlook is the spread of the Delta variant, but Daly said this is likely to have limited impact on the economy. She also said that on the whole, this will not undermine the economic recovery, but it will undermine the global economic recovery and bring resistance to the United States.</p><p>Regarding the issue of inflation, Daly said that the economic sectors most affected by reopening have experienced a surge in inflation, but the imbalance between supply and demand will eventually resolve itself.</p><p>Notably, Daly is a voting member of the Federal Reserve's Open Market Committee and has voting rights at FOMC meetings.</p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fed voting committee: May begin to reduce the scale of asset purchases by the end of this year</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed voting committee: May begin to reduce the scale of asset purchases by the end of this year\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-08-12 16:49</span>\n</p>\n</h4>\n</header>\n<article>\n<p>According to the Financial Times, San Francisco Fed President Mary Daly said that given the strength of the current economic rebound, the Fed may begin to taper asset purchases before the end of this year.</p><p>Daly said the strong recovery in household and business activity will continue to accelerate as more people return to work, consumer spending remains strong. Daly also believes that it is appropriate to start discussing taper.</p><p>Earlier, the Federal Reserve said it would continue to buy mortgage-backed securities and U.S. Treasury Bond until the inflation rate hovers at the average level of 2% and substantial further progress is made on the employment target. Those thresholds could be reached by the end of this year or early 2022, Daly said.</p><p>According to Fed officials, the main risk to the economic outlook is the spread of the Delta variant, but Daly said this is likely to have limited impact on the economy. She also said that on the whole, this will not undermine the economic recovery, but it will undermine the global economic recovery and bring resistance to the United States.</p><p>Regarding the issue of inflation, Daly said that the economic sectors most affected by reopening have experienced a surge in inflation, but the imbalance between supply and demand will eventually resolve itself.</p><p>Notably, Daly is a voting member of the Federal Reserve's Open Market Committee and has voting rights at FOMC meetings.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3637798\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/123472eab1159c5e881f8e540a346014","relate_stocks":{"161125":"标普500","513500":"标普500ETF","QID":"两倍做空纳斯达克指数ETF-ProShares",".DJI":"道琼斯","DJX":"1/100道琼斯","DXD":"两倍做空道琼30指数ETF-ProShares","SQQQ":"纳指三倍做空ETF","DDM":"2倍做多道指ETF-ProShares","OEX":"标普100","PSQ":"做空纳斯达克100指数ETF-ProShares","UDOW":"三倍做多道指30ETF-ProShares","QQQ":"纳指100ETF","UPRO":"三倍做多标普500ETF-ProShares","DOG":"道指ETF-ProShares做空","SH":"做空标普500-Proshares","SPXU":"三倍做空标普500ETF-ProShares",".IXIC":"NASDAQ Composite","SSO":"2倍做多标普500ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares","SDOW":"三倍做空道指30ETF-ProShares",".SPX":"S&P 500 Index","TQQQ":"纳指三倍做多ETF","SPY":"标普500ETF","IVV":"标普500ETF-iShares","OEF":"标普100指数ETF-iShares","SDS":"两倍做空标普500 ETF-ProShares"},"source_url":"https://wallstreetcn.com/articles/3637798","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2158253720","content_text":"据金融时报，旧金山联储主席Mary Daly表示，鉴于目前经济反弹的力道，美联储可能会在今年底前开始缩减资产购买规模（taper）。\nDaly表示，随着越来越多的人重返工作岗位，消费者支出依然强劲，家庭和商业活动的强劲复苏将继续加速。Daly还认为，开始讨论taper是合适的。\n此前美联储表示，将继续购买抵押贷款支持证券和美国国债，直到通胀率在2%的平均水平徘徊，以及就业目标取得实质性的进一步进展。Daly表示，在今年年底或2022年初可能会达到这些门槛。\n根据美联储官员的说法，经济前景的主要风险是德尔塔变种病毒的传播，但Daly表示，这可能对经济产生的影响有限。她还表示，整体来说，这不会破坏经济的复苏，但是会破坏全球经济的复苏，给美国带来阻力。\n对于通胀问题，Daly表示，受重新开放影响最大的经济部门出现通胀激增的现象，但供需失衡的现象最终将自己得到解决。\n值得注意的是，Daly是美联储公开市场委员会的投票成员，在FOMC会议上有投票权。","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"SDOW":0.9,"PSQ":0.9,"SPXU":0.9,"QQQ":0.9,".IXIC":0.9,"SSO":0.9,"SQQQ":0.9,".DJI":0.9,"UDOW":0.9,"TQQQ":0.9,"ESmain":0.9,"IVV":0.9,"SH":0.9,"QID":0.9,"MNQmain":0.9,"NQmain":0.9,"DDM":0.9,"OEX":0.9,"SPY":0.9,"SDS":0.9,".SPX":0.9,"DOG":0.9,"UPRO":0.9,"DXD":0.9,"DJX":0.9,"QLD":0.9,"OEF":0.9}},"isVote":1,"tweetType":1,"viewCount":2480,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802760443,"gmtCreate":1627808858582,"gmtModify":1703496167503,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/802760443","repostId":"2156169561","repostType":4,"isVote":1,"tweetType":1,"viewCount":3054,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":145563229,"gmtCreate":1626230880061,"gmtModify":1703755986005,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/145563229","repostId":"2151560584","repostType":4,"repost":{"id":"2151560584","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1626207238,"share":"https://ttm.financial/m/news/2151560584?lang=en_US&edition=fundamental","pubTime":"2021-07-14 04:13","market":"us","language":"en","title":"S&P 500 and Nasdaq end down after hitting record highs","url":"https://stock-news.laohu8.com/highlight/detail?id=2151560584","media":"Reuters","summary":"JPMorgan drops amid low interest rates\nU.S. consumer prices surge in June\nBoeing slips on new produc","content":"<ul>\n <li>JPMorgan drops amid low interest rates</li>\n <li>U.S. consumer prices surge in June</li>\n <li>Boeing slips on new production problems for 787 Dreamliners</li>\n <li>Indexes: Dow -0.31%, S&amp;P 500 -0.35%, Nasdaq -0.38%</li>\n</ul>\n<p>(Updates following end of session)</p>\n<p>July 13 (Reuters) - The S&amp;P 500 and Nasdaq ended lower on Tuesday after hitting record highs earlier in the session, with investors digesting a jump in consumer prices in June and earnings from JPMorgan and Goldman Sachs that kicked off the quarterly reporting season.</p>\n<p>The S&amp;P 500 and Nasdaq reached fresh record highs but quickly fell into negative territory after an auction of 30-year Treasuries showed less demand than some investors expected and pushed yields higher.</p>\n<p>Data indicated U.S. consumer prices rose by the most in 13 years last month, while so-called core consumer prices surged 4.5% year over year, the largest rise since November 1991.</p>\n<p>Economists viewed the price surge, driven by travel-rated services and used automobiles, as mostly temporary, aligning with Federal Reserve Chair Jerome Powell's long-standing views.</p>\n<p>\"Any time you get an uptick in interest rates the stock market is going to get nervous, especially on a day like today,\" said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey.</p>\n<p>The S&amp;P 500 growth index dipped 0.05%, while the value index fell 0.70%.</p>\n<p>\"With growth outperforming value, the takeaway is clearly that inflation from a market perspective is not a real threat in the long term,\" said Keith Buchanan, a portfolio manager at GLOBALT Investments in Atlanta, Georgia.</p>\n<p>Ten of the 11 major S&amp;P 500 sector indexes ended lower, with real estate , consumer discretionary and financials each down more than 1%.</p>\n<p>JPMorgan Chase &amp; Co stock fell 1.5% after the company reported blockbuster quarterly profit growth but warned that the sunny outlook would not make for blockbuster revenues in the short term due to low interest rates.</p>\n<p>Goldman Sachs Group Inc dipped 1.2% after its quarterly earnings exceeded forecasts.</p>\n<p>Citigroup , Wells Fargo &amp; Co and Bank of America were due to report their quarterly results early on Wednesday.</p>\n<p>PepsiCo Inc gained 2.3% after raising its full-year earnings forecast, betting on accelerating demand as COVID-19 restrictions continue to ease.</p>\n<p>June-quarter earnings per share for S&amp;P 500 companies are expected to rise 66%, according to Refinitiv data, with investors questioning how long Wall Street's rally would last after a 16% rise in the benchmark index so far this year.</p>\n<p>All eyes now turn to Fed Chair Jerome Powell's congressional testimony on Wednesday and Thursday for his comments about rising price pressures and monetary support going forward.</p>\n<p>The Dow Jones Industrial Average fell 0.31% to end at 34,888.79 points, while the S&amp;P 500 lost 0.35% to 4,369.21.</p>\n<p>The Nasdaq Composite dropped 0.38% to 14,677.65.</p>\n<p>Conagra Brands Inc dropped 5.4% after the packaged foods company warned that higher raw material and ingredient costs would take a bigger bite out of its profit this year than previously estimated.</p>\n<p>Boeing Co fell 4.2% after the Federal Aviation Administration said late on Monday some undelivered 787 Dreamliners have a new manufacturing quality issue.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 2.85-to-1 ratio; on Nasdaq, a 3.06-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 39 new 52-week highs and no new lows; the Nasdaq Composite recorded 61 new highs and 73 new lows.</p>\n<p>Volume on U.S. exchanges was 9.5 billion shares, compared with the 10.5 billion average for the full session over the last 20 trading days.</p>\n<p>(Additional reporting by Devik Jain and Shreyashi Sanyal in Bengaluru; Editing by Cynthia Osterman)</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>S&P 500 and Nasdaq end down after hitting record highs</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nS&P 500 and Nasdaq end down after hitting record highs\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-14 04:13</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li>JPMorgan drops amid low interest rates</li>\n <li>U.S. consumer prices surge in June</li>\n <li>Boeing slips on new production problems for 787 Dreamliners</li>\n <li>Indexes: Dow -0.31%, S&amp;P 500 -0.35%, Nasdaq -0.38%</li>\n</ul>\n<p>(Updates following end of session)</p>\n<p>July 13 (Reuters) - The S&amp;P 500 and Nasdaq ended lower on Tuesday after hitting record highs earlier in the session, with investors digesting a jump in consumer prices in June and earnings from JPMorgan and Goldman Sachs that kicked off the quarterly reporting season.</p>\n<p>The S&amp;P 500 and Nasdaq reached fresh record highs but quickly fell into negative territory after an auction of 30-year Treasuries showed less demand than some investors expected and pushed yields higher.</p>\n<p>Data indicated U.S. consumer prices rose by the most in 13 years last month, while so-called core consumer prices surged 4.5% year over year, the largest rise since November 1991.</p>\n<p>Economists viewed the price surge, driven by travel-rated services and used automobiles, as mostly temporary, aligning with Federal Reserve Chair Jerome Powell's long-standing views.</p>\n<p>\"Any time you get an uptick in interest rates the stock market is going to get nervous, especially on a day like today,\" said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey.</p>\n<p>The S&amp;P 500 growth index dipped 0.05%, while the value index fell 0.70%.</p>\n<p>\"With growth outperforming value, the takeaway is clearly that inflation from a market perspective is not a real threat in the long term,\" said Keith Buchanan, a portfolio manager at GLOBALT Investments in Atlanta, Georgia.</p>\n<p>Ten of the 11 major S&amp;P 500 sector indexes ended lower, with real estate , consumer discretionary and financials each down more than 1%.</p>\n<p>JPMorgan Chase &amp; Co stock fell 1.5% after the company reported blockbuster quarterly profit growth but warned that the sunny outlook would not make for blockbuster revenues in the short term due to low interest rates.</p>\n<p>Goldman Sachs Group Inc dipped 1.2% after its quarterly earnings exceeded forecasts.</p>\n<p>Citigroup , Wells Fargo &amp; Co and Bank of America were due to report their quarterly results early on Wednesday.</p>\n<p>PepsiCo Inc gained 2.3% after raising its full-year earnings forecast, betting on accelerating demand as COVID-19 restrictions continue to ease.</p>\n<p>June-quarter earnings per share for S&amp;P 500 companies are expected to rise 66%, according to Refinitiv data, with investors questioning how long Wall Street's rally would last after a 16% rise in the benchmark index so far this year.</p>\n<p>All eyes now turn to Fed Chair Jerome Powell's congressional testimony on Wednesday and Thursday for his comments about rising price pressures and monetary support going forward.</p>\n<p>The Dow Jones Industrial Average fell 0.31% to end at 34,888.79 points, while the S&amp;P 500 lost 0.35% to 4,369.21.</p>\n<p>The Nasdaq Composite dropped 0.38% to 14,677.65.</p>\n<p>Conagra Brands Inc dropped 5.4% after the packaged foods company warned that higher raw material and ingredient costs would take a bigger bite out of its profit this year than previously estimated.</p>\n<p>Boeing Co fell 4.2% after the Federal Aviation Administration said late on Monday some undelivered 787 Dreamliners have a new manufacturing quality issue.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 2.85-to-1 ratio; on Nasdaq, a 3.06-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 39 new 52-week highs and no new lows; the Nasdaq Composite recorded 61 new highs and 73 new lows.</p>\n<p>Volume on U.S. exchanges was 9.5 billion shares, compared with the 10.5 billion average for the full session over the last 20 trading days.</p>\n<p>(Additional reporting by Devik Jain and Shreyashi Sanyal in Bengaluru; Editing by Cynthia Osterman)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF",".SPX":"S&P 500 Index","NDAQ":"纳斯达克OMX交易所",".DJI":"道琼斯","SQQQ":"纳指三倍做空ETF","PSQ":"做空纳斯达克100指数ETF-ProShares","QQQ":"纳指100ETF","UPRO":"三倍做多标普500ETF-ProShares","SH":"做空标普500-Proshares","SPXU":"三倍做空标普500ETF-ProShares","SSO":"2倍做多标普500ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares","OEX":"标普100","TQQQ":"纳指三倍做多ETF","SPY":"标普500ETF","IVV":"标普500ETF-iShares","SDS":"两倍做空标普500 ETF-ProShares","OEF":"标普100指数ETF-iShares","QID":"两倍做空纳斯达克指数ETF-ProShares",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2151560584","content_text":"JPMorgan drops amid low interest rates\nU.S. consumer prices surge in June\nBoeing slips on new production problems for 787 Dreamliners\nIndexes: Dow -0.31%, S&P 500 -0.35%, Nasdaq -0.38%\n\n(Updates following end of session)\nJuly 13 (Reuters) - The S&P 500 and Nasdaq ended lower on Tuesday after hitting record highs earlier in the session, with investors digesting a jump in consumer prices in June and earnings from JPMorgan and Goldman Sachs that kicked off the quarterly reporting season.\nThe S&P 500 and Nasdaq reached fresh record highs but quickly fell into negative territory after an auction of 30-year Treasuries showed less demand than some investors expected and pushed yields higher.\nData indicated U.S. consumer prices rose by the most in 13 years last month, while so-called core consumer prices surged 4.5% year over year, the largest rise since November 1991.\nEconomists viewed the price surge, driven by travel-rated services and used automobiles, as mostly temporary, aligning with Federal Reserve Chair Jerome Powell's long-standing views.\n\"Any time you get an uptick in interest rates the stock market is going to get nervous, especially on a day like today,\" said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey.\nThe S&P 500 growth index dipped 0.05%, while the value index fell 0.70%.\n\"With growth outperforming value, the takeaway is clearly that inflation from a market perspective is not a real threat in the long term,\" said Keith Buchanan, a portfolio manager at GLOBALT Investments in Atlanta, Georgia.\nTen of the 11 major S&P 500 sector indexes ended lower, with real estate , consumer discretionary and financials each down more than 1%.\nJPMorgan Chase & Co stock fell 1.5% after the company reported blockbuster quarterly profit growth but warned that the sunny outlook would not make for blockbuster revenues in the short term due to low interest rates.\nGoldman Sachs Group Inc dipped 1.2% after its quarterly earnings exceeded forecasts.\nCitigroup , Wells Fargo & Co and Bank of America were due to report their quarterly results early on Wednesday.\nPepsiCo Inc gained 2.3% after raising its full-year earnings forecast, betting on accelerating demand as COVID-19 restrictions continue to ease.\nJune-quarter earnings per share for S&P 500 companies are expected to rise 66%, according to Refinitiv data, with investors questioning how long Wall Street's rally would last after a 16% rise in the benchmark index so far this year.\nAll eyes now turn to Fed Chair Jerome Powell's congressional testimony on Wednesday and Thursday for his comments about rising price pressures and monetary support going forward.\nThe Dow Jones Industrial Average fell 0.31% to end at 34,888.79 points, while the S&P 500 lost 0.35% to 4,369.21.\nThe Nasdaq Composite dropped 0.38% to 14,677.65.\nConagra Brands Inc dropped 5.4% after the packaged foods company warned that higher raw material and ingredient costs would take a bigger bite out of its profit this year than previously estimated.\nBoeing Co fell 4.2% after the Federal Aviation Administration said late on Monday some undelivered 787 Dreamliners have a new manufacturing quality issue.\nDeclining issues outnumbered advancing ones on the NYSE by a 2.85-to-1 ratio; on Nasdaq, a 3.06-to-1 ratio favored decliners.\nThe S&P 500 posted 39 new 52-week highs and no new lows; the Nasdaq Composite recorded 61 new highs and 73 new lows.\nVolume on U.S. exchanges was 9.5 billion shares, compared with the 10.5 billion average for the full session over the last 20 trading days.\n(Additional reporting by Devik Jain and Shreyashi Sanyal in Bengaluru; Editing by Cynthia Osterman)","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"ESmain":0.9,"SQQQ":0.9,"QID":0.9,"MNQmain":0.9,".IXIC":0.9,"OEX":0.9,"SDS":0.9,".SPX":0.9,"TQQQ":0.9,".DJI":0.9,"NDAQ":0.9,"QLD":0.9,"PSQ":0.9,"SPY":0.9,"NQmain":0.9,"OEF":0.9,"QQQ":0.9,"UPRO":0.9,"SSO":0.9,"SPXU":0.9,"IVV":0.9,"SH":0.9}},"isVote":1,"tweetType":1,"viewCount":444,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":140856558,"gmtCreate":1625648510274,"gmtModify":1703745603154,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/140856558","repostId":"1130886099","repostType":4,"repost":{"id":"1130886099","kind":"news","pubTimestamp":1625647657,"share":"https://ttm.financial/m/news/1130886099?lang=en_US&edition=fundamental","pubTime":"2021-07-07 16:47","market":"us","language":"en","title":"Havens in Demand as Deutsche Bank Sees Balance of Risks Shifting","url":"https://stock-news.laohu8.com/highlight/detail?id=1130886099","media":"Bloomberg","summary":"(Bloomberg) -- Once-bullish global risk sentiment is starting to cede ground to pockets of angst.\nSu","content":"<p>(Bloomberg) -- Once-bullish global risk sentiment is starting to cede ground to pockets of angst.</p>\n<p>Surging commodity prices and rising inflation expectations have given way to rallies in havens from Treasuries to the Japanese yen this week, while pockets of the tech world are in crisis. Investors are once again questioning the strength of the global recovery and mulling the threat of new Covid-19 variants and prospective central bank tightening -- in particular by the Federal Reserve.</p>\n<p>“The balance of risks is slightly more negative given the continued global reach of the delta variant and the reaction to the FOMC,” Deutsche Bank AG economist David Folkerts-Landau wrote in a report Tuesday. “One of the biggest questions soon will be the extent to which governments and citizens are prepared to live with the virus. That answer will have crucial implications for the shape of the recovery and the new steady-state we’re heading to.”</p>\n<p>Benchmark 10-year Treasury yields slumped Tuesday to touch their lowest since February after a key gauge of U.S. service-sector activity fell more than expected, raising concern over the strength of the economic rebound. Brent crude futures, which hit their highest since 2018 after OPEC+ talks over production increases collapsed this week, reversed course to give up this month’s gains.</p>\n<p>With the world’s central bankers taking a data-dependent approach, investors are parsing every economic release for clues as to how it might affect their thinking. While Tuesday’s U.S. services data showed record order backlogs, traders focused instead on its weaker employment measure and a slight decline in prices paid, which suggested an acceleration in cost pressures may be starting to cool.</p>\n<p>U.S. stocks snapped a streak of seven consecutive closing record highs, led lower by economically-sensitive energy and financial shares. Traditional haven the Japanese yen strengthened, pushing the currency to a two-week high against the dollar.</p>\n<p>Also spooking traders was the spread of the delta variant of the coronavirus, even in countries like Israel which has one of the world’s most effective inoculation drives. Many new Covid-19 cases are among vaccinated people, according to Ynet news service, while a report showed Pfizer Inc.’s vaccine was less effective at preventing the virus, even though it provided a strong shield against severe illness.</p>\n<p>Meanwhile, China’s technology stocks are withering under increasing regulatory scrutiny as investors brace for a new era of tighter oversight from Beijing. An index of the country’s internet shares has fallen to the lowest since September.</p>\n<p>And there are signs of concern over the nation’s pace of economic recovery. A former central bank official said policy makers should cut interest rates in the second half of the year.</p>\n<p>Still, the angst in pockets of the financial market has yet to lead to broader weakness. A gauge of global stocks is trading just off an all-time closing high set Friday and benchmark yields remain up more than 40 basis points this year.</p>\n<p>Investor focus now turns to the release of Federal Reserve meeting minutes Wednesday that should bring fresh insight on its monetary policy.</p>","source":"lsy1612507957220","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>Havens in Demand as Deutsche Bank Sees Balance of Risks Shifting</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nHavens in Demand as Deutsche Bank Sees Balance of Risks Shifting\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-07 16:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/signs-market-angst-growing-investors-043911877.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Once-bullish global risk sentiment is starting to cede ground to pockets of angst.\nSurging commodity prices and rising inflation expectations have given way to rallies in havens from ...</p>\n\n<a href=\"https://finance.yahoo.com/news/signs-market-angst-growing-investors-043911877.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://finance.yahoo.com/news/signs-market-angst-growing-investors-043911877.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1130886099","content_text":"(Bloomberg) -- Once-bullish global risk sentiment is starting to cede ground to pockets of angst.\nSurging commodity prices and rising inflation expectations have given way to rallies in havens from Treasuries to the Japanese yen this week, while pockets of the tech world are in crisis. Investors are once again questioning the strength of the global recovery and mulling the threat of new Covid-19 variants and prospective central bank tightening -- in particular by the Federal Reserve.\n“The balance of risks is slightly more negative given the continued global reach of the delta variant and the reaction to the FOMC,” Deutsche Bank AG economist David Folkerts-Landau wrote in a report Tuesday. “One of the biggest questions soon will be the extent to which governments and citizens are prepared to live with the virus. That answer will have crucial implications for the shape of the recovery and the new steady-state we’re heading to.”\nBenchmark 10-year Treasury yields slumped Tuesday to touch their lowest since February after a key gauge of U.S. service-sector activity fell more than expected, raising concern over the strength of the economic rebound. Brent crude futures, which hit their highest since 2018 after OPEC+ talks over production increases collapsed this week, reversed course to give up this month’s gains.\nWith the world’s central bankers taking a data-dependent approach, investors are parsing every economic release for clues as to how it might affect their thinking. While Tuesday’s U.S. services data showed record order backlogs, traders focused instead on its weaker employment measure and a slight decline in prices paid, which suggested an acceleration in cost pressures may be starting to cool.\nU.S. stocks snapped a streak of seven consecutive closing record highs, led lower by economically-sensitive energy and financial shares. Traditional haven the Japanese yen strengthened, pushing the currency to a two-week high against the dollar.\nAlso spooking traders was the spread of the delta variant of the coronavirus, even in countries like Israel which has one of the world’s most effective inoculation drives. Many new Covid-19 cases are among vaccinated people, according to Ynet news service, while a report showed Pfizer Inc.’s vaccine was less effective at preventing the virus, even though it provided a strong shield against severe illness.\nMeanwhile, China’s technology stocks are withering under increasing regulatory scrutiny as investors brace for a new era of tighter oversight from Beijing. An index of the country’s internet shares has fallen to the lowest since September.\nAnd there are signs of concern over the nation’s pace of economic recovery. A former central bank official said policy makers should cut interest rates in the second half of the year.\nStill, the angst in pockets of the financial market has yet to lead to broader weakness. A gauge of global stocks is trading just off an all-time closing high set Friday and benchmark yields remain up more than 40 basis points this year.\nInvestor focus now turns to the release of Federal Reserve meeting minutes Wednesday that should bring fresh insight on its monetary policy.","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":415,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179479430,"gmtCreate":1626574138720,"gmtModify":1703761873073,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Haiz","listText":"Haiz","text":"Haiz","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/179479430","repostId":"1102934343","repostType":4,"isVote":1,"tweetType":1,"viewCount":565,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142668037,"gmtCreate":1626146892729,"gmtModify":1703754285393,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"wow。。…。。。。。。。。。。。。。。。。。。。。","listText":"wow。。…。。。。。。。。。。。。。。。。。。。。","text":"wow。。…。。。。。。。。。。。。。。。。。。。。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/142668037","repostId":"1101858948","repostType":4,"isVote":1,"tweetType":1,"viewCount":612,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806210282,"gmtCreate":1627657172046,"gmtModify":1703494316968,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Omg","listText":"Omg","text":"Omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/806210282","repostId":"1103612914","repostType":4,"repost":{"id":"1103612914","kind":"news","pubTimestamp":1627656394,"share":"https://ttm.financial/m/news/1103612914?lang=en_US&edition=fundamental","pubTime":"2021-07-30 22:46","market":"us","language":"zh","title":"Ideally going to Hong Kong, it's time for Li Xiang to stop his temper","url":"https://stock-news.laohu8.com/highlight/detail?id=1103612914","media":"AI蓝媒汇","summary":"王兴是理想的第一个“关键先生”，李想则是第二个。\n\n去年7月，理想登陆纳斯达克。时间不到一年，7月26日，理想通过港交所上市聆讯，不久之后，我们将看到理想在港股双重上市。\n在聆讯材料中，创始人李想被称","content":"<p>Wang Xing is the ideal first \"key gentleman\", while Li Xiang is the second. In July last year, Ideal landed on Nasdaq. In less than a year, on July 26, Ideal passed the listing hearing of the Hong Kong Stock Exchange. Soon, we will see Ideal's dual listing on the Hong Kong stock market.</p><p>In the hearing materials, the founder Li Xiang was called \"one of the few successful entrepreneurs in China\". He has successively founded Paopao.com,<a href=\"https://laohu8.com/S/ATHM\">Car Home</a>，<a href=\"https://laohu8.com/S/LI\">Li Auto</a>It is its third venture. These successful experiences in the past have also \"demonstrated Li Xiang's insight, vision, experience and ability as one of the best Internet product managers in China.\"</p><p>Yes, Li Xiang may be a very good product manager. After Ideal went public last year, the market had doubts about Ideal's extended-range technical architecture. Wang Xing supported Li Xiang with a little sales promotion on Fanfou, saying:</p><p>I never try to persuade others to \"buy\" Ideal ONE. I just suggest that they try Ideal ONE, open it, sit it down, and feel it for themselves before making a judgment. Some people have never touched Ideal ONE, and they directly mouth it based on the so-called industry experience/theory/common sense, haha.</p><p>Of course, Wang Xing himself and Meituan are now deeply bound to ideals, and Wang Xing is also known as \"Mr. Key to Ideals\". In the hearing materials, the ideal four major shareholders, Meituan and Wang Xing, occupy two important positions:</p><p>With 13.23% of the equity, Meituan owns 4.21% of Ideal's voting rights; With 6.76% of the equity, Wang Xing owns 2.15% of the voting rights of Ideal.</p><p><img src=\"https://static.tigerbbs.com/d7f0853225b7fb4cf59ed59e03aa5a29\" tg-width=\"692\" tg-height=\"370\" referrerpolicy=\"no-referrer\"></p><p>Li Xiang himself, as the single major shareholder of Ideal, owns 75.74% of Ideal's voting rights with 23.79% of the equity. When Ideal was listed on the U.S. stock market, according to the data disclosed in its prospectus, Li Xiang owned 21.0% of Ideal's shares and 72.7% of the voting rights at that time.</p><p>Among the three new car-making forces \"Wei Xiaoli\", Li Xiang is the founder with the most \"fan effect\". To this day, Li Bin's<a href=\"https://laohu8.com/S/WB\">Weibo</a>With 495,000 fans, He XPeng's<a href=\"https://laohu8.com/S/WB\">Weibo</a>There are 969,000 fans, while Li Xiang's Weibo has 1.869 million fans.</p><p>Of course, this fan effect may not be so good for ideals, such as a nickname of Li Xiang:</p><p>The founder of a car company is the first person to scold the street.</p><p>This nickname is very interesting. To a certain extent, it shows that the brand image of the ideal enterprise has been seriously damaged.</p><p>For example, in April, May, and July in review, three seemingly unrelated things happened in Ideal.</p><p>In April, Li Xiang sent a Weibo, talked about something from the perspective of a third party storytelling, and asked netizens for enlightenment.</p><p><img src=\"https://static.tigerbbs.com/531d871804cbcfa51cc12bb7027912a5\" tg-width=\"719\" tg-height=\"2008\" referrerpolicy=\"no-referrer\"></p><p>The cause of the incident originated from a female reporter who added an ideal engineer from someone's website and asked:</p><p>I heard that May is ideal<a href=\"https://laohu8.com/S/AONE.U\">one</a>The facelifted car is about to be launched. I am curious about what changes the new car has made. Can you ask me?</p><p>Because of this question, the female reporter annoyed the engineer, and he asked:</p><p>I also want to ask you about your X life harmony? Have you unlocked any new XX recently? I would also like to ask you for advice.</p><p>For the ideal employee, \"confidential\" work naturally has its principle. While making vulgar remarks, this engineer also expressed his grievances:</p><p>All the companies that can be said have been announced to the public. Don't ask Xiaobai for such confidential questions. Someone really answered you, and your reading volume has gone up. Have you ever thought about the person who provided information? You don't know what the consequences of leaking secrets?</p><p>Of course, this matter has passed, and there is no need to discuss the right and wrong. In the history of Ideal's development, this is only an inconspicuous case of its public relations crisis, but this matter is not without ripples. In May, another public relations crisis of Ideal was just like the above-mentioned female reporter \"Ideal<a href=\"https://laohu8.com/S/AONE.U\">one</a>Related to \"facelift car\".</p><p>At that time, some netizens defended their rights on Weibo and posted various banners posted on the body of Ideal ONE, such as:</p><p>Car enthusiasts talk about their feelings with Ideal, and Ideal treats car enthusiasts as fools! Ideal ONE has no conscience in fraudulent sales and abandons loyal fans!</p><p><img src=\"https://static.tigerbbs.com/e6eb469e68da66b0b9c2534977fae4a4\" tg-width=\"692\" tg-height=\"513\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/155449407a22b4c40e73939c81a8e7de\" tg-width=\"692\" tg-height=\"518\" referrerpolicy=\"no-referrer\"></p><p>The cause of this incident was that on May 25, Ideal released and launched the new Ideal ONE. From the price point of view, the price of the new Ideal ONE has been raised by 10,000 yuan, in exchange for upgrades in the software, hardware and configuration of the assisted driving system.</p><p>The crux of the problem is that many ideal users don't know this news. Users who have already ordered cars and picked up cars recently think that ideal sales have deceived them. Some car owners said:</p><p>It's normal to upgrade, but it's wrong to hide the need to upgrade and sell us the old model.</p><p>Some car owners began to speak out through various channels, such as Li Xiang's Weibo, Ideal APP, car owner group and after-sales customer service, but they experienced operations such as ignoring and \"being removed from group chat\". After the car owners \"had no way to defend their rights\", they spontaneously formed a rights protection group, and an ideal car owner who is a lawyer gave Ideal a lawyer's letter. What is \"excessive\" is that in the screenshots circulating on the Internet, some car owners even expressed their very \"uncle\" appeal to the ideal after-sales service:</p><p>Help me slap Li Xiang.</p><p><img src=\"https://static.tigerbbs.com/acadfdf4dde0b88fd6fc23a56725d5a8\" tg-width=\"695\" tg-height=\"612\" referrerpolicy=\"no-referrer\"></p><p>In fact, the damage of the ideal brand has something to do with Li Xiang himself. In the past news, Li Xiang had even more news points than his ideal.</p><p>In July, a car owner released a video showing that there was suspected mercury between the seat gaps of the Ideal ONE, and the dose was considerable. As a toxic substance, the official explanation given by Ideal is:</p><p>Ideal ONE does not use mercury in product design, raw material selection, manufacturing, transportation and delivery, and the vehicle fully complies with the \"Requirements for Prohibited Substances in Automobiles\" (GB/T 30612-2014) and the requirements related to hazardous substances such as EU ELV.</p><p><img src=\"https://static.tigerbbs.com/7cb53fd3d2d43aebd55893ee2e05fb44\" tg-width=\"692\" tg-height=\"237\" referrerpolicy=\"no-referrer\"></p><p>However, what made Ideal deeply involved in the \"Mercury Gate\" incident was not the official attitude of Ideal, but a Weibo of Li Xiang himself. On July 5th, Li Xiang angrily denounced in Weibo:</p><p>Those who spread rumors about our mercury and the media, I wish you mercury in your blood and mercury in your mind!</p><p><img src=\"https://static.tigerbbs.com/2e70a0f678807dac6bdb1c6a7b163488\" tg-width=\"550\" tg-height=\"327\" referrerpolicy=\"no-referrer\"></p><p>Li Xiang sent this Weibo three times. Finally, this Weibo was deleted by Li Xiang.</p><p>This wave of operations also pushed Li Xiang to the forefront. In Weibo's comment area, some netizens commented on Li Xiang like this:</p><p>Sanctimonious, full of lies, and deceiving consumers.</p><p>Such an image, frankly speaking, is very serious for the CEO of a listed company. In fact, Li Xiang lost his temper not once or twice. He is also one of the rare CEOs who scolded the media directly. If you have watched a program \"Winning in China's Blue Sky and Clear Water\" that Li Xiang participated in in 2013, you should be able to understand Li Xiang's temper.</p><p>In this program, as<a href=\"https://laohu8.com/S/ATHM\">Car Home</a>Li Xiang, the founder and president, was furious on the spot because of insufficient preparation for the contract and said:</p><p>The contract is not printed properly, and I have to print my resume. What are I doing? My head is flooded.</p><p><img src=\"https://static.tigerbbs.com/22b1803a41fb098fcf8f0bf2a3fb96f4\" tg-width=\"709\" tg-height=\"523\" referrerpolicy=\"no-referrer\"></p><p>After the \"Mercury Gate\" incident, some netizens said that Li Xiang had expanded. After experiencing the trough period of new energy vehicles, the report card delivered by Ideal is actually not bad. It was mentioned in the hearing materials that from the mass production of Ideal ONE in November 2019 to June 30, 2021,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Delivered more than 63,000 Ideal ONE vehicles.</p><p>According to the CIC Consulting report, according to sales statistics, Ideal ONE was rated as the best-selling new energy SUV model in China in 2020, accounting for 9.7% of the market share; At the same time in<a href=\"https://laohu8.com/S/600617\">National New Energy</a>The automobile market ranks sixth, accounting for 2.8% of the market share; Li Auto Yuzhong<a href=\"https://laohu8.com/S/600617\">National New Energy</a>Car brands ranked eleventh.</p><p>It is worth noting that in the delivery rankings of new car-making forces, in May, the ideal delivery volume was 4,323 vehicles, ranking only fourth. In June, the ideal delivery volume reached 6,565 units, exceeding<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>, only ranked in<a href=\"https://laohu8.com/S/NIO\">Nio</a>Under.</p><p>At the same time, the ideal revenue data is constantly climbing the stairs. Ideal's revenue in 2019, 2020 and the first quarter of 2021 was 284 million yuan, 9.457 billion yuan and 3.575 billion yuan respectively. In the same period last year, this figure was still 852 million yuan.</p><p><img src=\"https://static.tigerbbs.com/d971fd2311c9185d972828dca2646e24\" tg-width=\"692\" tg-height=\"795\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>With such a report card, Ideal is going to the Hong Kong stock market.</p><p>Today, the ideal market value has reached 27.84 billion U.S. dollars, and the progress bar of the dream of a market value of 100 billion U.S. dollars has passed a quarter.</p><p>But the ideal still faces many problems. In the hearing materials, one of the key risk factors mentioned by Ideal is that up to now, Ideal still relies on a single model to bring in revenue, and in the foreseeable future, the number of models that bring in revenue is limited.</p><p>In some discussions about ideals, some car owners said:</p><p>When will Ideal TWO be released?</p><p>In addition, the problems faced by Ideal also include the impact of the founder's words and deeds on the brand that were not mentioned in the hearing materials.</p><p>We consulted some car owners, and an ideal car owner said:</p><p>The point is still on the car, as long as it is easy to drive.</p><p>When referring to past ideals and some \"news\" of Li Xiang, the car owner who also helped others buy ideals on Weibo said he didn't know.</p><p>But at the same time, some consumers said that because of some remarks, they were shaken in whether to choose their ideals when buying their \"first car in life\".</p><p>In the capital market, this reaction may be more obvious, and this impact may directly affect stocks.</p><p>As for why in the \"news\" of these months, the sales volume of Ideal still increased in June, a car owner in Shanghai said it was hard to say, but he also told us a reason for choosing Ideal:</p><p>Among the cars priced at 300,000 yuan, only Ideal can get a green license.</p><p>Li Xiang's own bad temper and \"scolding the street\" image can't help but worry investors. Whether such traffic is beneficial to the ideal brand image and the ideal high-end is still open to question.</p><p>In the future, Li Xiang may be the key to whether he can lead the inflated ideal into the 100 billion dollar mark. Of course, what I'm talking about has nothing to do with strategy.</p>","source":"lmh","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>Ideally going to Hong Kong, it's time for Li Xiang to stop his temper</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\">\nIdeally going to Hong Kong, it's time for Li Xiang to stop his temper\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">AI蓝媒汇</strong><span class=\"h-time small\">2021-07-30 22:46</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Wang Xing is the ideal first \"key gentleman\", while Li Xiang is the second. In July last year, Ideal landed on Nasdaq. In less than a year, on July 26, Ideal passed the listing hearing of the Hong Kong Stock Exchange. Soon, we will see Ideal's dual listing on the Hong Kong stock market.</p><p>In the hearing materials, the founder Li Xiang was called \"one of the few successful entrepreneurs in China\". He has successively founded Paopao.com,<a href=\"https://laohu8.com/S/ATHM\">Car Home</a>，<a href=\"https://laohu8.com/S/LI\">Li Auto</a>It is its third venture. These successful experiences in the past have also \"demonstrated Li Xiang's insight, vision, experience and ability as one of the best Internet product managers in China.\"</p><p>Yes, Li Xiang may be a very good product manager. After Ideal went public last year, the market had doubts about Ideal's extended-range technical architecture. Wang Xing supported Li Xiang with a little sales promotion on Fanfou, saying:</p><p>I never try to persuade others to \"buy\" Ideal ONE. I just suggest that they try Ideal ONE, open it, sit it down, and feel it for themselves before making a judgment. Some people have never touched Ideal ONE, and they directly mouth it based on the so-called industry experience/theory/common sense, haha.</p><p>Of course, Wang Xing himself and Meituan are now deeply bound to ideals, and Wang Xing is also known as \"Mr. Key to Ideals\". In the hearing materials, the ideal four major shareholders, Meituan and Wang Xing, occupy two important positions:</p><p>With 13.23% of the equity, Meituan owns 4.21% of Ideal's voting rights; With 6.76% of the equity, Wang Xing owns 2.15% of the voting rights of Ideal.</p><p><img src=\"https://static.tigerbbs.com/d7f0853225b7fb4cf59ed59e03aa5a29\" tg-width=\"692\" tg-height=\"370\" referrerpolicy=\"no-referrer\"></p><p>Li Xiang himself, as the single major shareholder of Ideal, owns 75.74% of Ideal's voting rights with 23.79% of the equity. When Ideal was listed on the U.S. stock market, according to the data disclosed in its prospectus, Li Xiang owned 21.0% of Ideal's shares and 72.7% of the voting rights at that time.</p><p>Among the three new car-making forces \"Wei Xiaoli\", Li Xiang is the founder with the most \"fan effect\". To this day, Li Bin's<a href=\"https://laohu8.com/S/WB\">Weibo</a>With 495,000 fans, He XPeng's<a href=\"https://laohu8.com/S/WB\">Weibo</a>There are 969,000 fans, while Li Xiang's Weibo has 1.869 million fans.</p><p>Of course, this fan effect may not be so good for ideals, such as a nickname of Li Xiang:</p><p>The founder of a car company is the first person to scold the street.</p><p>This nickname is very interesting. To a certain extent, it shows that the brand image of the ideal enterprise has been seriously damaged.</p><p>For example, in April, May, and July in review, three seemingly unrelated things happened in Ideal.</p><p>In April, Li Xiang sent a Weibo, talked about something from the perspective of a third party storytelling, and asked netizens for enlightenment.</p><p><img src=\"https://static.tigerbbs.com/531d871804cbcfa51cc12bb7027912a5\" tg-width=\"719\" tg-height=\"2008\" referrerpolicy=\"no-referrer\"></p><p>The cause of the incident originated from a female reporter who added an ideal engineer from someone's website and asked:</p><p>I heard that May is ideal<a href=\"https://laohu8.com/S/AONE.U\">one</a>The facelifted car is about to be launched. I am curious about what changes the new car has made. Can you ask me?</p><p>Because of this question, the female reporter annoyed the engineer, and he asked:</p><p>I also want to ask you about your X life harmony? Have you unlocked any new XX recently? I would also like to ask you for advice.</p><p>For the ideal employee, \"confidential\" work naturally has its principle. While making vulgar remarks, this engineer also expressed his grievances:</p><p>All the companies that can be said have been announced to the public. Don't ask Xiaobai for such confidential questions. Someone really answered you, and your reading volume has gone up. Have you ever thought about the person who provided information? You don't know what the consequences of leaking secrets?</p><p>Of course, this matter has passed, and there is no need to discuss the right and wrong. In the history of Ideal's development, this is only an inconspicuous case of its public relations crisis, but this matter is not without ripples. In May, another public relations crisis of Ideal was just like the above-mentioned female reporter \"Ideal<a href=\"https://laohu8.com/S/AONE.U\">one</a>Related to \"facelift car\".</p><p>At that time, some netizens defended their rights on Weibo and posted various banners posted on the body of Ideal ONE, such as:</p><p>Car enthusiasts talk about their feelings with Ideal, and Ideal treats car enthusiasts as fools! Ideal ONE has no conscience in fraudulent sales and abandons loyal fans!</p><p><img src=\"https://static.tigerbbs.com/e6eb469e68da66b0b9c2534977fae4a4\" tg-width=\"692\" tg-height=\"513\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/155449407a22b4c40e73939c81a8e7de\" tg-width=\"692\" tg-height=\"518\" referrerpolicy=\"no-referrer\"></p><p>The cause of this incident was that on May 25, Ideal released and launched the new Ideal ONE. From the price point of view, the price of the new Ideal ONE has been raised by 10,000 yuan, in exchange for upgrades in the software, hardware and configuration of the assisted driving system.</p><p>The crux of the problem is that many ideal users don't know this news. Users who have already ordered cars and picked up cars recently think that ideal sales have deceived them. Some car owners said:</p><p>It's normal to upgrade, but it's wrong to hide the need to upgrade and sell us the old model.</p><p>Some car owners began to speak out through various channels, such as Li Xiang's Weibo, Ideal APP, car owner group and after-sales customer service, but they experienced operations such as ignoring and \"being removed from group chat\". After the car owners \"had no way to defend their rights\", they spontaneously formed a rights protection group, and an ideal car owner who is a lawyer gave Ideal a lawyer's letter. What is \"excessive\" is that in the screenshots circulating on the Internet, some car owners even expressed their very \"uncle\" appeal to the ideal after-sales service:</p><p>Help me slap Li Xiang.</p><p><img src=\"https://static.tigerbbs.com/acadfdf4dde0b88fd6fc23a56725d5a8\" tg-width=\"695\" tg-height=\"612\" referrerpolicy=\"no-referrer\"></p><p>In fact, the damage of the ideal brand has something to do with Li Xiang himself. In the past news, Li Xiang had even more news points than his ideal.</p><p>In July, a car owner released a video showing that there was suspected mercury between the seat gaps of the Ideal ONE, and the dose was considerable. As a toxic substance, the official explanation given by Ideal is:</p><p>Ideal ONE does not use mercury in product design, raw material selection, manufacturing, transportation and delivery, and the vehicle fully complies with the \"Requirements for Prohibited Substances in Automobiles\" (GB/T 30612-2014) and the requirements related to hazardous substances such as EU ELV.</p><p><img src=\"https://static.tigerbbs.com/7cb53fd3d2d43aebd55893ee2e05fb44\" tg-width=\"692\" tg-height=\"237\" referrerpolicy=\"no-referrer\"></p><p>However, what made Ideal deeply involved in the \"Mercury Gate\" incident was not the official attitude of Ideal, but a Weibo of Li Xiang himself. On July 5th, Li Xiang angrily denounced in Weibo:</p><p>Those who spread rumors about our mercury and the media, I wish you mercury in your blood and mercury in your mind!</p><p><img src=\"https://static.tigerbbs.com/2e70a0f678807dac6bdb1c6a7b163488\" tg-width=\"550\" tg-height=\"327\" referrerpolicy=\"no-referrer\"></p><p>Li Xiang sent this Weibo three times. Finally, this Weibo was deleted by Li Xiang.</p><p>This wave of operations also pushed Li Xiang to the forefront. In Weibo's comment area, some netizens commented on Li Xiang like this:</p><p>Sanctimonious, full of lies, and deceiving consumers.</p><p>Such an image, frankly speaking, is very serious for the CEO of a listed company. In fact, Li Xiang lost his temper not once or twice. He is also one of the rare CEOs who scolded the media directly. If you have watched a program \"Winning in China's Blue Sky and Clear Water\" that Li Xiang participated in in 2013, you should be able to understand Li Xiang's temper.</p><p>In this program, as<a href=\"https://laohu8.com/S/ATHM\">Car Home</a>Li Xiang, the founder and president, was furious on the spot because of insufficient preparation for the contract and said:</p><p>The contract is not printed properly, and I have to print my resume. What are I doing? My head is flooded.</p><p><img src=\"https://static.tigerbbs.com/22b1803a41fb098fcf8f0bf2a3fb96f4\" tg-width=\"709\" tg-height=\"523\" referrerpolicy=\"no-referrer\"></p><p>After the \"Mercury Gate\" incident, some netizens said that Li Xiang had expanded. After experiencing the trough period of new energy vehicles, the report card delivered by Ideal is actually not bad. It was mentioned in the hearing materials that from the mass production of Ideal ONE in November 2019 to June 30, 2021,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Delivered more than 63,000 Ideal ONE vehicles.</p><p>According to the CIC Consulting report, according to sales statistics, Ideal ONE was rated as the best-selling new energy SUV model in China in 2020, accounting for 9.7% of the market share; At the same time in<a href=\"https://laohu8.com/S/600617\">National New Energy</a>The automobile market ranks sixth, accounting for 2.8% of the market share; Li Auto Yuzhong<a href=\"https://laohu8.com/S/600617\">National New Energy</a>Car brands ranked eleventh.</p><p>It is worth noting that in the delivery rankings of new car-making forces, in May, the ideal delivery volume was 4,323 vehicles, ranking only fourth. In June, the ideal delivery volume reached 6,565 units, exceeding<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>, only ranked in<a href=\"https://laohu8.com/S/NIO\">Nio</a>Under.</p><p>At the same time, the ideal revenue data is constantly climbing the stairs. Ideal's revenue in 2019, 2020 and the first quarter of 2021 was 284 million yuan, 9.457 billion yuan and 3.575 billion yuan respectively. In the same period last year, this figure was still 852 million yuan.</p><p><img src=\"https://static.tigerbbs.com/d971fd2311c9185d972828dca2646e24\" tg-width=\"692\" tg-height=\"795\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>With such a report card, Ideal is going to the Hong Kong stock market.</p><p>Today, the ideal market value has reached 27.84 billion U.S. dollars, and the progress bar of the dream of a market value of 100 billion U.S. dollars has passed a quarter.</p><p>But the ideal still faces many problems. In the hearing materials, one of the key risk factors mentioned by Ideal is that up to now, Ideal still relies on a single model to bring in revenue, and in the foreseeable future, the number of models that bring in revenue is limited.</p><p>In some discussions about ideals, some car owners said:</p><p>When will Ideal TWO be released?</p><p>In addition, the problems faced by Ideal also include the impact of the founder's words and deeds on the brand that were not mentioned in the hearing materials.</p><p>We consulted some car owners, and an ideal car owner said:</p><p>The point is still on the car, as long as it is easy to drive.</p><p>When referring to past ideals and some \"news\" of Li Xiang, the car owner who also helped others buy ideals on Weibo said he didn't know.</p><p>But at the same time, some consumers said that because of some remarks, they were shaken in whether to choose their ideals when buying their \"first car in life\".</p><p>In the capital market, this reaction may be more obvious, and this impact may directly affect stocks.</p><p>As for why in the \"news\" of these months, the sales volume of Ideal still increased in June, a car owner in Shanghai said it was hard to say, but he also told us a reason for choosing Ideal:</p><p>Among the cars priced at 300,000 yuan, only Ideal can get a green license.</p><p>Li Xiang's own bad temper and \"scolding the street\" image can't help but worry investors. Whether such traffic is beneficial to the ideal brand image and the ideal high-end is still open to question.</p><p>In the future, Li Xiang may be the key to whether he can lead the inflated ideal into the 100 billion dollar mark. Of course, what I'm talking about has nothing to do with strategy.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/1S3hOTihp9jJ6dlJx80c0A\">AI蓝媒汇</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/8843ee5d72c93e2911b6a263ef27f796","relate_stocks":{"LI":"理想汽车","02015":"理想汽车-W"},"source_url":"https://mp.weixin.qq.com/s/1S3hOTihp9jJ6dlJx80c0A","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103612914","content_text":"王兴是理想的第一个“关键先生”，李想则是第二个。\n\n去年7月，理想登陆纳斯达克。时间不到一年，7月26日，理想通过港交所上市聆讯，不久之后，我们将看到理想在港股双重上市。\n在聆讯材料中，创始人李想被称为“中国为数不多接连取得成功的创业家”，他曾先后创立泡泡网、汽车之家，理想汽车是其第三次创业。过去的这些成功经历，也都“彰显出李想作为中国最佳互联网产品经理之一的洞见、视野、经验及能力”。\n是的，李想可能是一个很牛的产品经理。去年理想上市后，市场曾对理想增程式技术架构有质疑，王兴在饭否上带着点推销的意思力挺李想，说：\n我从来不试图说服别人“买”理想ONE，我只是建议他们试一下理想ONE，开一开，坐一坐，自己感受一下再做判断。有些人碰都没碰过理想ONE，仅凭所谓行业经验/理论/常识就直接唱衰，呵呵。\n当然，王兴本人和美团现在和理想都是深度绑定的关系，王兴也被称作“理想的关键先生”。在聆讯材料中，理想的4个主要股东，美团和王兴就占据了两个重要位置：\n美团以13.23%的股权，拥有理想4.21%的投票权；王兴以6.76%的股权，拥有理想2.15%的投票权。\n\n李想本人则作为理想的单一大股东，以23.79%的股权，拥有理想75.74%的投票权。当初理想在美股上市时，根据其招股书中披露的数据，当时李想拥有理想21.0%的股权、72.7%的投票权。\n在“蔚小理”三家造车新势力中，李想是最具有“粉丝效应”的一位创始人。时至今日，李斌的微博有49.5万粉丝，何小鹏的微博有96.9万粉丝，而李想的微博，则有186.9万粉丝。\n当然，这种粉丝效应对理想可能并没有那么利好，比如李想的一个外号：\n车企创始人骂街第一人。\n这个外号很有意思，一定程度上表明了理想这家企业，其品牌形象已受损严重。\n比如我们复盘下4月、5月、7月，理想分别发生了三件看起来没什么关联的事。\n4月份时，李想发了一条微博，以第三者讲故事的角度，谈了一件事，并请求网友赐教。\n\n事件的起因，源于一位女记者从某人脉网站上加了一位理想的工程师，并问了一句：\n听说5月份理想one的改款车就要上市了，比较好奇新车都有哪些变化，可否请教一下？\n因为这个问题，该女记者惹恼了这位工程师，他反问道：\n我也想和你请教一下你的X生活和谐吗？最近有没有解锁什么新XX，也想和你请教一下。\n对于理想的员工来说，“保密”工作自然有其原则性，这位工程师在发表粗俗言论的同时，也表达了自己的怨气：\n能说的公司都对外宣布了，这种涉密的问题不要再找小白问了，真有人回答了你们，你们阅读量是上去了，想过提供信息的人吗？泄漏机密什么后果你不清楚？\n当然，这件事已经过去了，其中是非也不用太多讨论了。在理想的发展史中，这只是其公关危机案例中不起眼的一件，但这件事情也并非没有涟漪，5月份时，理想的另一场公关危机，就跟上述女记者提到的“理想one的改款车”有关。\n当时，有网友在微博上维权，发布多张在理想ONE车身上贴着的各种横幅，比如：\n车友跟理想谈情怀，理想把车友当傻子！理想ONE没有良心的欺诈销售，抛弃忠实粉丝！\n\n这起事件的起因是5月25日，理想发布并上市了新款理想ONE。从售价看，新款理想ONE售价上调了1万元，换来的是辅助驾驶系统软硬件和配置上的升级。\n问题的关键在于，不少的理想用户并不知道这一消息，已经订车以及提车不久的用户认为理想的销售欺骗了他们，有车主表示：\n升级换代很正常，但是隐瞒要升级换代，把旧款卖给我们就不对。\n有车主们开始通过各种渠道去发声，譬如在李想的微博、理想APP、车主群以及售后客服，但却经历了不理会以及“被移出群聊”等操作。在车主们“维权无门”后，他们自发组建维权群，并由一名律师职业的理想车主，送给了理想一发律师函。很“过分”的是，在网上流传的截图中，甚至有车主向理想的售后表达了自己一个很“大爷”的诉求：\n你帮我扇李想。\n\n事实上，理想的品牌受损，跟李想本人也有一定的关系。在过去的新闻中，李想身上的新闻点甚至比理想还要多。\n7月份时，有车主发布视频显示，理想ONE的座椅缝隙间疑似有水银，而且剂量可观。作为一种有毒物质，理想官方给出的解释是：\n理想ONE在产品设计、原材料选择、生产制造、运输及交付环节均未使用到水银，车辆完全符合《汽车禁用物质要求》（GB/T 30612-2014）及欧盟ELV等有害物质相关要求。\n\n但让理想深陷“水银门”事件的，却并非理想官方的态度，而是李想本人的一条微博。7月5日，李想在微博怒斥：\n造谣我们用水银的人和媒体，祝愿你们血液里流动着汞，脑子里装满了汞！\n\n这条微博，李想发了三遍。最后，这条微博还是被李想删掉了。\n这波操作，也将李想推上风口浪尖。微博的评论区中，有网友这样评价李想：\n道貌岸然、满嘴谎言、欺瞒消费者。\n这样的形象，对于一家上市企业的CEO，坦白说，很严重了。李想发脾气其实不是一次两次了，他也是少有的非常直性子地骂媒体的一位CEO。如果你看过李想在2013年参加的一档《赢在中国蓝天碧水间》的节目，应该能对李想的脾气有所了解。\n在这档节目中，彼时作为汽车之家创始人兼总裁的李想，因为合同准备不足，扯着嗓门现场发飙说：\n合同没打印好，还要我打印简历，在干什么，脑袋进水了。\n\n“水银门”事件后，有网友说李想膨胀了。经历过新能源汽车的低谷期后，理想交的成绩单其实还不错。在本次聆讯资料中提到，从2019年11月量产理想ONE，截至到2021年6月30日，理想汽车交付逾63000辆理想ONE。\n根据灼识咨询报告，按销量统计，理想ONE于2020年被评为中国最畅销的新能源SUV车型，占市场份额9.7%；同时于中国新能源汽车市场排名第六，占市场份额2.8%；理想汽车于中国新能源汽车品牌排名第十一。\n值得注意的是，在造车新势力的交付排行榜中，5月份时，理想的交付量为4323辆，仅排在第四。6月份时，理想的交付量就到了6565辆，超过了小鹏汽车，仅排在蔚来之下。\n与此同时，理想营收数据也在不断地爬台阶。理想2019年、2020年以及2021年第一季度的营收分别为2.84亿元、94.57亿元和35.75亿元，去年同期，这个数据还是8.52亿元。\n\n带着这样一份成绩单，理想要奔赴港股了。\n今天，理想的市值已经到了278.4亿美元，千亿美元市值梦的进度条已经走过了四分之一。\n但理想仍然面临着诸多问题。在聆讯资料中，理想提到的风险因素，很关键的一条是，截止到目前，理想仍然依赖单一车型带来收入，而且在可预见的未来，带来收入的车型数量有限。\n在关于理想的一些讨论中，有车主说：\n理想TWO什么时候出？\n除此之外，理想面临的问题还包括未在聆讯资料中提及的，关于创始人的言行对品牌的影响。\n我们咨询了一些车主，有理想车主表示：\n重点还是在于车，好开就行了。\n在提及过往理想以及李想的一些“新闻”时，这位在微博上还安利别人买理想的车主表示并不知晓。\n但同时，也有消费者表示，因为某些言论，使他在购买“人生第一台车”时是否选择理想产生了动摇。\n在资本市场，这种反应可能更明显，这种影响，可能会直接作用在股票上。\n至于为何在这几个月的“新闻”中，理想的销量在6月份仍然实现了上涨，一位上海的车主表示不好说，但他同时告诉我们选择理想的一个原因：\n在30万价位的车中，只有理想能上绿牌。\n李想本人的暴脾气以及“骂街”形象，也不由地让投资者引起担忧，这样的流量对理想品牌形象以及对理想的高端化是否有利也有待商榷。\n未来，能否带领膨胀的理想迈入千亿美元大关，李想可能是关键。当然，我说的跟战略无关。","news_type":1,"symbols_score_info":{"02015":0.9,"LI":0.9}},"isVote":1,"tweetType":1,"viewCount":3449,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174191324,"gmtCreate":1627084343368,"gmtModify":1703483842451,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Omg","listText":"Omg","text":"Omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/174191324","repostId":"1129536436","repostType":4,"isVote":1,"tweetType":1,"viewCount":2696,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178293811,"gmtCreate":1626822496433,"gmtModify":1703765699065,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/178293811","repostId":"2152686859","repostType":4,"repost":{"id":"2152686859","kind":"news","pubTimestamp":1626795361,"share":"https://ttm.financial/m/news/2152686859?lang=en_US&edition=fundamental","pubTime":"2021-07-20 23:36","market":"us","language":"zh","title":"Split the business and accelerate the transformation! Can GlaxoSmithKline successfully break the game this time?","url":"https://stock-news.laohu8.com/highlight/detail?id=2152686859","media":"医药魔方","summary":"2021年对于葛兰素史克来说显得有些艰难，在加速转型的路上，GSK也不可避免地经历阵痛期。\nGSK 2020年的财报其实就显示出了一定的颓势，全年营收为340.99亿英镑，同比增长仅仅为1%，此外在制","content":"<p>2021 for<a href=\"https://laohu8.com/S/GSK\">Glaxo SmithKline</a>It seems a bit difficult. On the road to accelerating transformation, GSK will inevitably experience a period of pain.</p><p>GSK's 2020 financial report actually showed a certain decline. The annual revenue was 34.099 billion pounds, a year-on-year increase of only 1%. In addition, the revenue from the pharmaceutical and vaccine businesses showed varying degrees of decline. Entering 2021, GSK's performance in the first quarter is still somewhat bleak, with total revenue of 7.418 billion pounds, a year-on-year decrease of 18%. For an established and powerful MNC, this result seems a bit unreasonable. In particular, GSK's vaccine business sales in the first quarter were only 1.2 billion pounds, a year-on-year decrease of nearly 32%. Two years ago, GSK's vaccine business revenue ranked first in the world.</p><p><img src=\"https://static.tigerbbs.com/49db1b7ede2237c7045d9671b5461350\" tg-width=\"720\" tg-height=\"391\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">Source: GSK 2021 Q1 financial report</p><p>At the beginning of June this year, PharmExec (American Pharmaceutical Manager Magazine) announced the TOP50 list of global pharmaceutical companies in 2021. GSK ranked ninth. Although GSK's ranking has been relatively stable in the past three years, the overall and core product sales Looking at it, the situation is hardly optimistic. It can be seen from the rankings of pharmaceutical companies in the past three years that the gap between GSK and leading pharmaceutical companies is further widening. In 2018, the sales gap between GSK and the previous one was basically the same, and in 2020, it will be directly defeated by the previous one. In addition, the sales gap between GSK and the pharmaceutical companies ranked behind has further narrowed in the past two years. In 2020, GSK's highest-selling drug was the HIV-1 infection drug Triumeq. Although sales reached US $2.96 billion, it fell by 8.7% year-on-year. Sales in the first quarter of this year fell by 23% year-on-year. With the fierce impact of Gilead, the drug's market share prospects also seem somewhat precarious.</p><p>TOP10 global pharmaceutical companies (sales: US $100 million)</p><p><img src=\"https://static.tigerbbs.com/3af8fbdca54d47d99c31dfe2d6d6e7b7\" tg-width=\"720\" tg-height=\"827\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">Note: The data is compiled from Medicine Rubik's Cube, and the sales volume is from the previous year</p><p>More than halfway through 2021, whether GSK can successfully stop the decline and make a turnaround in the second half of the year and even in the future, as far as the signals released by GSK are concerned, the day when the clouds will be cleared and the sun will be seen may not be far away.</p><p>1 Split the business, can the revenue continue to grow in the next ten years?</p><p>Speaking of GSK, we have to mention its current head-Emma Walmsley. Since becoming the CEO of GSK in 2016, Walmsley has been leading GSK on the road of transformation under the aura of the first female CEO in GSK history. Faced with the decline of business, Walmsley recently announced GSK's operation and research and development plans for the next ten years. An important part of this is that it is expected that in mid-2022, GSK's consumer health segment will be separated into an independent company, and the spin-off The new GSK will focus on the development of innovative vaccines and drugs.</p><p>The voice of doubt is inevitable on the road to transformation, and the capital force represented by the capital tycoon Elliott Management is already making the voice of doubt. Elliott said that Walmsley, who has no scientific background, is directing blindly, and even called for the direct dismissal of Walmsley. However, GSK's board of directors still firmly stood on the side of its own head. The board of directors said that under Walmsley's leadership, GSK can achieve leapfrog development through spin-off and long-term planning for the future.</p><p>In Walmsley's plan, after GSK is split into two, the independent pharmaceutical sector will maintain continuous growth in the next ten years. By 2031, the revenue of the independent pharmaceutical business will reach 46 billion US dollars, of which the operating profit in the next five years will continue to grow by more than 10%. After the spin-off is completed, the new GSK will focus more on the development of infectious diseases, HIV, tumors and immune/respiratory system drugs.</p><p>As GSK's traditional advantageous business, the consumer health care business brought more than US $13 billion in revenue to GSK last year. The performance after the spin-off was also unanimously favored by Walmsley and the board of directors. The annual revenue of this spin-off exceeded US $10 billion and is still growing consumer health care business. GSK's move has also been controversial. Some analysts believe that GSK's core purpose is to broaden financing channels, demand higher valuations and improve operational efficiency.</p><p>From single-core to Gemini mode, GSK has made a huge attempt for the development of the next ten years, and Walmsley, who is under great pressure, and his partners in the camp are bound to face more challenges. The grandiloquence has been recorded, and time will give the answer.</p><p>2 After successively introducing new products, can GSK catch up?</p><p>After announcing the ten-year plan, GSK blew the charge on the road to transformation one after another.</p><p>Recently, GSK and Alector jointly announced that the two companies have reached a global strategic cooperation. GSK spent US $2.2 billion to obtain two potential \"first-in-class\" monoclonal antibody drugs in the clinical stage. The joint development rights of AL001 and AL101, these two drugs will be used to develop and treat multiple neurodegenerative diseases including amyotrophic lateral sclerosis, Parkinson's disease and Alzheimer's disease.</p><p>This move is also regarded as GSK's layout of one of the most attractive gene verification targets in the current new immunoneurological treatment methods. From GSK's layout of the immune track, it is not difficult to see that it attaches great importance to immune drugs. In the past 2020, both Nucala and Trelegy Ellipta have grown into blockbuster drugs for their respective indications. Nucala is the world's first The anti-IL5 monoclonal antibody drug for the treatment of eosinophilic asthma has a breakthrough significance in the expansion of multiple indications, and its sales in 2020 have also reached US $1.284 billion. It is worth mentioning that Nucala's sales in the first quarter of this year also reached US $352 million, a year-on-year increase of 21%, and are expected to continue to grow in the future. Another drug, Trelegy Ellipta, is the first triple inhalation preparation approved for both COPD and asthma. Sales in 2020 exceeded the billion-dollar mark for the first time, with a growth rate of 60%.</p><p>In addition, Benlysta (belimumab) is the first new systemic lupus erythematosus (SLE) drug on the market in 50 years. Sales in 2020 are also close to the blockbuster threshold, and Benlysta was approved by the FDA for use on December 17, 2020. A serious complication of SLE-lupus nephritis, has become the first drug approved by the FDA for the treatment of lupus nephritis. Coupled with its entry into the national medical insurance catalog, Benlysta has maintained a high double-digit growth in sales revenue in the first quarter of 2021 (18%).</p><p>It is not difficult to see from this that with drugs such as Nucala, Trelegy Ellipta and Benlysta taking the lead, and GSK currently has more than 20 drugs that have entered Phase III clinical trials, the competitiveness of the first and substitute players should not be underestimated, and immune drugs will become One of the pillars supporting GSK's business growth in the future.</p><p>In terms of anti-tumor drugs, GSK has obviously accelerated the pace of its layout. Also last month, GSK introduced a TIGIT monoclonal antibody drug with up to US $2 billion. As a popular target after PD-1/PD-L1 and CTLA-4, TIGIT has also attracted a number of pharmaceutical giant companies to deploy. However, no product for this target has yet been approved. Since only one PD-1 product has been approved until this year, GSK, which has obviously been thrown out of dozens of positions in the PD-1 track layout, is also targeting this rising star. In the future, GSK will cooperate with Roche,<a href=\"https://laohu8.com/S/MRK\">Merck & Co</a>, BMS and other old rivals continue to catch and kill.</p><p>Previously, GSK acquired Tesaro for a sky-high price of US $5.1 billion and obtained the development rights of Zejula (niraparib). As the only PARP inhibitor that only needs to be taken orally once a day, Zejula's performance in 2020 has not lived up to expectations. It has achieved a growth of nearly 50%, and in the first quarter of 2021, it also reached sales of US $122 million, a year-on-year increase of 10%. Another drug, Blenrep, as the world's first BCMA (B-cell maturation antigen) targeted therapy on the market, has achieved sales of 43 million US dollars in clinical end-line therapy applications in just 5 months, and its future prospects are also relatively optimistic.</p><p>Although due to various reasons, GSK only returned to the oncology drug track in 2016. Judging from the layout in recent years, GSK seems to be a little hesitant in the layout of oncology drugs, which also leads to its current There is no true blockbuster drug that leads the world, and after successively introducing multiple products to expand the pipeline, GSK will have more confidence to challenge other competitors.</p><p>3 With a new generation of therapies, can GSK successfully challenge Gilead's HIV dominance?</p><p>Data shows that the global HIV drug market exceeded US $27 billion in 2020, and in this vast market, Gilead is currently the well-deserved overlord, occupying 62% of the global HIV market. The blockbuster product Biktarvy developed by Gilead was in the limelight for a while, reaching sales of US $7.3 billion in the second year of its launch, becoming the king of HIV drugs. As a veteran HIV player, GSK has been firmly occupying the second place in recent years. Despite the impact of Biktarvy, which has led to a decline in the growth rate of GSK's HIV drug sales, its Triumeq and Tivicay were handed over last year. A good report card, with sales reaching 2.98 billion and 1.97 billion US dollars respectively.</p><p><img src=\"https://static.tigerbbs.com/dfafd99b115f924f68a1cf5050d6dff2\" tg-width=\"720\" tg-height=\"433\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">Source:<a href=\"https://laohu8.com/S/SINA\">SINA</a>Pharmaceutical</p><p>So in the future, does GSK have the opportunity to challenge Gilead's dominance in the HIV field? Of course it is possible.</p><p>One of the major reasons is that GSK has successfully developed Cabenuva, which is currently the first and only long-acting drug that can completely treat HIV-1 infection, and it can be administered once a month. In other words, Cabenuva has completed a historic breakthrough in the transformation of HIV patients from oral administration 365 days a year to monthly injection, that is, only 12 days of injection treatment throughout the year. Although Gilead also has various layouts for long-acting HIV administration, GSK has obviously mastered the initiative of a new generation of HIV therapy. According to GSK's forecast, Cabenuva's sales will reach 7 billion US dollars in the next few years. It is also confident that GSK is currently at least five years ahead of other competitors in the new generation of long-acting drug delivery.</p><p>4 With no luck, can GSK catch the next bus in COVID-19 vaccine?</p><p>As one of the world's largest vaccine manufacturers, GSK's development process in COVID-19 vaccine has been full of twists and turns.</p><p>Despite previous associations with<a href=\"https://laohu8.com/S/0O59.UK\">Sanofi</a>Jointly announced the development of the adjuvant recombinant protein COVID-19 vaccine, but unfortunately, due to the unsatisfactory results of the vaccine in the mid-term phase 1/2 study last year, the two parties were not allowed to announce the postponement of the trial plan. It was not until May this year that they jointly announced the restart and started Phase III clinical trials. Misfortune never rains poorly, and the cooperation between GSK and CureVac is even worse. On June 17, CureVac announced that the results of the second interim analysis of its mRNA Novel Coronavirus vaccine candidate Phase 2b/3 study showed that the effectiveness was only 47%, which undoubtedly gave GSK a blow.</p><p>In<a href=\"https://laohu8.com/S/PFE\">Pfizer</a>When Moderna made a lot of money because of COVID-19 vaccine, GSK is not even qualified to drink soup at present, but there is no way to go. The adjuvant recombinant protein COVID-19 vaccine previously jointly developed by GSK and Sanofi is restarting clinical practice. Everything goes well and may be available before the end of the year. Bogillot, chairman of Sanofi France, also made an optimistic prediction. Despite entering the field late, the vaccine may be very effective in France and overseas. He also said: \"With the emergence of mutated viruses, we must achieve very high levels of herd immunity.\" In addition, the neutralizing antibody therapy VIR-7831 jointly developed by GSK and Vir Biotechnology has good clinical trial results in the treatment of early COVID-19 patients, and the two companies have submitted an emergency use authorization application to the US FDA.</p><p>Although it has missed the best opportunity to get on the bus, as the only company that develops drugs and vaccines for the three major global diseases (malaria, AIDS and tuberculosis) identified by WHO, GSK still doesn't have to worry too much about the commercialization and production capacity of vaccines. As an important pawn on the road of future transformation, how Walmsley leads her team to catch up and play carefully on these three tracks will also bother her for some time.</p><p>5 Summary</p><p>Whether it is questioned or not, GSK's transformation road has indeed officially kicked off. In the ancient East, there is a saying: If you are easy to be poor, you will change, and if you change, you will be successful. The general rule is applicable to GSK at this moment for a long time. In the dilemma of continued business decline, such changes are indeed needed to inject new vitality into GSK. Although the temporary \"change makes sense\" has not been confirmed by results in a short period of time, it is worth encouraging that Walmsley is leading GSK to try to get out of the fog. The ten-year plan is long. Maybe Walmsley has been fired one year later. Maybe Walmsley has led GSK to complete the transformation after three years... No one can predict the future, we will wait and see.</p>","source":"lsy1571747680734","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>Split the business and accelerate the transformation! Can GlaxoSmithKline successfully break the game this time?</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\">\nSplit the business and accelerate the transformation! Can GlaxoSmithKline successfully break the game this time?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">医药魔方</strong><span class=\"h-time small\">2021-07-20 23:36</span>\n</p>\n</h4>\n</header>\n<article>\n<p>2021 for<a href=\"https://laohu8.com/S/GSK\">Glaxo SmithKline</a>It seems a bit difficult. On the road to accelerating transformation, GSK will inevitably experience a period of pain.</p><p>GSK's 2020 financial report actually showed a certain decline. The annual revenue was 34.099 billion pounds, a year-on-year increase of only 1%. In addition, the revenue from the pharmaceutical and vaccine businesses showed varying degrees of decline. Entering 2021, GSK's performance in the first quarter is still somewhat bleak, with total revenue of 7.418 billion pounds, a year-on-year decrease of 18%. For an established and powerful MNC, this result seems a bit unreasonable. In particular, GSK's vaccine business sales in the first quarter were only 1.2 billion pounds, a year-on-year decrease of nearly 32%. Two years ago, GSK's vaccine business revenue ranked first in the world.</p><p><img src=\"https://static.tigerbbs.com/49db1b7ede2237c7045d9671b5461350\" tg-width=\"720\" tg-height=\"391\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">Source: GSK 2021 Q1 financial report</p><p>At the beginning of June this year, PharmExec (American Pharmaceutical Manager Magazine) announced the TOP50 list of global pharmaceutical companies in 2021. GSK ranked ninth. Although GSK's ranking has been relatively stable in the past three years, the overall and core product sales Looking at it, the situation is hardly optimistic. It can be seen from the rankings of pharmaceutical companies in the past three years that the gap between GSK and leading pharmaceutical companies is further widening. In 2018, the sales gap between GSK and the previous one was basically the same, and in 2020, it will be directly defeated by the previous one. In addition, the sales gap between GSK and the pharmaceutical companies ranked behind has further narrowed in the past two years. In 2020, GSK's highest-selling drug was the HIV-1 infection drug Triumeq. Although sales reached US $2.96 billion, it fell by 8.7% year-on-year. Sales in the first quarter of this year fell by 23% year-on-year. With the fierce impact of Gilead, the drug's market share prospects also seem somewhat precarious.</p><p>TOP10 global pharmaceutical companies (sales: US $100 million)</p><p><img src=\"https://static.tigerbbs.com/3af8fbdca54d47d99c31dfe2d6d6e7b7\" tg-width=\"720\" tg-height=\"827\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">Note: The data is compiled from Medicine Rubik's Cube, and the sales volume is from the previous year</p><p>More than halfway through 2021, whether GSK can successfully stop the decline and make a turnaround in the second half of the year and even in the future, as far as the signals released by GSK are concerned, the day when the clouds will be cleared and the sun will be seen may not be far away.</p><p>1 Split the business, can the revenue continue to grow in the next ten years?</p><p>Speaking of GSK, we have to mention its current head-Emma Walmsley. Since becoming the CEO of GSK in 2016, Walmsley has been leading GSK on the road of transformation under the aura of the first female CEO in GSK history. Faced with the decline of business, Walmsley recently announced GSK's operation and research and development plans for the next ten years. An important part of this is that it is expected that in mid-2022, GSK's consumer health segment will be separated into an independent company, and the spin-off The new GSK will focus on the development of innovative vaccines and drugs.</p><p>The voice of doubt is inevitable on the road to transformation, and the capital force represented by the capital tycoon Elliott Management is already making the voice of doubt. Elliott said that Walmsley, who has no scientific background, is directing blindly, and even called for the direct dismissal of Walmsley. However, GSK's board of directors still firmly stood on the side of its own head. The board of directors said that under Walmsley's leadership, GSK can achieve leapfrog development through spin-off and long-term planning for the future.</p><p>In Walmsley's plan, after GSK is split into two, the independent pharmaceutical sector will maintain continuous growth in the next ten years. By 2031, the revenue of the independent pharmaceutical business will reach 46 billion US dollars, of which the operating profit in the next five years will continue to grow by more than 10%. After the spin-off is completed, the new GSK will focus more on the development of infectious diseases, HIV, tumors and immune/respiratory system drugs.</p><p>As GSK's traditional advantageous business, the consumer health care business brought more than US $13 billion in revenue to GSK last year. The performance after the spin-off was also unanimously favored by Walmsley and the board of directors. The annual revenue of this spin-off exceeded US $10 billion and is still growing consumer health care business. GSK's move has also been controversial. Some analysts believe that GSK's core purpose is to broaden financing channels, demand higher valuations and improve operational efficiency.</p><p>From single-core to Gemini mode, GSK has made a huge attempt for the development of the next ten years, and Walmsley, who is under great pressure, and his partners in the camp are bound to face more challenges. The grandiloquence has been recorded, and time will give the answer.</p><p>2 After successively introducing new products, can GSK catch up?</p><p>After announcing the ten-year plan, GSK blew the charge on the road to transformation one after another.</p><p>Recently, GSK and Alector jointly announced that the two companies have reached a global strategic cooperation. GSK spent US $2.2 billion to obtain two potential \"first-in-class\" monoclonal antibody drugs in the clinical stage. The joint development rights of AL001 and AL101, these two drugs will be used to develop and treat multiple neurodegenerative diseases including amyotrophic lateral sclerosis, Parkinson's disease and Alzheimer's disease.</p><p>This move is also regarded as GSK's layout of one of the most attractive gene verification targets in the current new immunoneurological treatment methods. From GSK's layout of the immune track, it is not difficult to see that it attaches great importance to immune drugs. In the past 2020, both Nucala and Trelegy Ellipta have grown into blockbuster drugs for their respective indications. Nucala is the world's first The anti-IL5 monoclonal antibody drug for the treatment of eosinophilic asthma has a breakthrough significance in the expansion of multiple indications, and its sales in 2020 have also reached US $1.284 billion. It is worth mentioning that Nucala's sales in the first quarter of this year also reached US $352 million, a year-on-year increase of 21%, and are expected to continue to grow in the future. Another drug, Trelegy Ellipta, is the first triple inhalation preparation approved for both COPD and asthma. Sales in 2020 exceeded the billion-dollar mark for the first time, with a growth rate of 60%.</p><p>In addition, Benlysta (belimumab) is the first new systemic lupus erythematosus (SLE) drug on the market in 50 years. Sales in 2020 are also close to the blockbuster threshold, and Benlysta was approved by the FDA for use on December 17, 2020. A serious complication of SLE-lupus nephritis, has become the first drug approved by the FDA for the treatment of lupus nephritis. Coupled with its entry into the national medical insurance catalog, Benlysta has maintained a high double-digit growth in sales revenue in the first quarter of 2021 (18%).</p><p>It is not difficult to see from this that with drugs such as Nucala, Trelegy Ellipta and Benlysta taking the lead, and GSK currently has more than 20 drugs that have entered Phase III clinical trials, the competitiveness of the first and substitute players should not be underestimated, and immune drugs will become One of the pillars supporting GSK's business growth in the future.</p><p>In terms of anti-tumor drugs, GSK has obviously accelerated the pace of its layout. Also last month, GSK introduced a TIGIT monoclonal antibody drug with up to US $2 billion. As a popular target after PD-1/PD-L1 and CTLA-4, TIGIT has also attracted a number of pharmaceutical giant companies to deploy. However, no product for this target has yet been approved. Since only one PD-1 product has been approved until this year, GSK, which has obviously been thrown out of dozens of positions in the PD-1 track layout, is also targeting this rising star. In the future, GSK will cooperate with Roche,<a href=\"https://laohu8.com/S/MRK\">Merck & Co</a>, BMS and other old rivals continue to catch and kill.</p><p>Previously, GSK acquired Tesaro for a sky-high price of US $5.1 billion and obtained the development rights of Zejula (niraparib). As the only PARP inhibitor that only needs to be taken orally once a day, Zejula's performance in 2020 has not lived up to expectations. It has achieved a growth of nearly 50%, and in the first quarter of 2021, it also reached sales of US $122 million, a year-on-year increase of 10%. Another drug, Blenrep, as the world's first BCMA (B-cell maturation antigen) targeted therapy on the market, has achieved sales of 43 million US dollars in clinical end-line therapy applications in just 5 months, and its future prospects are also relatively optimistic.</p><p>Although due to various reasons, GSK only returned to the oncology drug track in 2016. Judging from the layout in recent years, GSK seems to be a little hesitant in the layout of oncology drugs, which also leads to its current There is no true blockbuster drug that leads the world, and after successively introducing multiple products to expand the pipeline, GSK will have more confidence to challenge other competitors.</p><p>3 With a new generation of therapies, can GSK successfully challenge Gilead's HIV dominance?</p><p>Data shows that the global HIV drug market exceeded US $27 billion in 2020, and in this vast market, Gilead is currently the well-deserved overlord, occupying 62% of the global HIV market. The blockbuster product Biktarvy developed by Gilead was in the limelight for a while, reaching sales of US $7.3 billion in the second year of its launch, becoming the king of HIV drugs. As a veteran HIV player, GSK has been firmly occupying the second place in recent years. Despite the impact of Biktarvy, which has led to a decline in the growth rate of GSK's HIV drug sales, its Triumeq and Tivicay were handed over last year. A good report card, with sales reaching 2.98 billion and 1.97 billion US dollars respectively.</p><p><img src=\"https://static.tigerbbs.com/dfafd99b115f924f68a1cf5050d6dff2\" tg-width=\"720\" tg-height=\"433\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">Source:<a href=\"https://laohu8.com/S/SINA\">SINA</a>Pharmaceutical</p><p>So in the future, does GSK have the opportunity to challenge Gilead's dominance in the HIV field? Of course it is possible.</p><p>One of the major reasons is that GSK has successfully developed Cabenuva, which is currently the first and only long-acting drug that can completely treat HIV-1 infection, and it can be administered once a month. In other words, Cabenuva has completed a historic breakthrough in the transformation of HIV patients from oral administration 365 days a year to monthly injection, that is, only 12 days of injection treatment throughout the year. Although Gilead also has various layouts for long-acting HIV administration, GSK has obviously mastered the initiative of a new generation of HIV therapy. According to GSK's forecast, Cabenuva's sales will reach 7 billion US dollars in the next few years. It is also confident that GSK is currently at least five years ahead of other competitors in the new generation of long-acting drug delivery.</p><p>4 With no luck, can GSK catch the next bus in COVID-19 vaccine?</p><p>As one of the world's largest vaccine manufacturers, GSK's development process in COVID-19 vaccine has been full of twists and turns.</p><p>Despite previous associations with<a href=\"https://laohu8.com/S/0O59.UK\">Sanofi</a>Jointly announced the development of the adjuvant recombinant protein COVID-19 vaccine, but unfortunately, due to the unsatisfactory results of the vaccine in the mid-term phase 1/2 study last year, the two parties were not allowed to announce the postponement of the trial plan. It was not until May this year that they jointly announced the restart and started Phase III clinical trials. Misfortune never rains poorly, and the cooperation between GSK and CureVac is even worse. On June 17, CureVac announced that the results of the second interim analysis of its mRNA Novel Coronavirus vaccine candidate Phase 2b/3 study showed that the effectiveness was only 47%, which undoubtedly gave GSK a blow.</p><p>In<a href=\"https://laohu8.com/S/PFE\">Pfizer</a>When Moderna made a lot of money because of COVID-19 vaccine, GSK is not even qualified to drink soup at present, but there is no way to go. The adjuvant recombinant protein COVID-19 vaccine previously jointly developed by GSK and Sanofi is restarting clinical practice. Everything goes well and may be available before the end of the year. Bogillot, chairman of Sanofi France, also made an optimistic prediction. Despite entering the field late, the vaccine may be very effective in France and overseas. He also said: \"With the emergence of mutated viruses, we must achieve very high levels of herd immunity.\" In addition, the neutralizing antibody therapy VIR-7831 jointly developed by GSK and Vir Biotechnology has good clinical trial results in the treatment of early COVID-19 patients, and the two companies have submitted an emergency use authorization application to the US FDA.</p><p>Although it has missed the best opportunity to get on the bus, as the only company that develops drugs and vaccines for the three major global diseases (malaria, AIDS and tuberculosis) identified by WHO, GSK still doesn't have to worry too much about the commercialization and production capacity of vaccines. As an important pawn on the road of future transformation, how Walmsley leads her team to catch up and play carefully on these three tracks will also bother her for some time.</p><p>5 Summary</p><p>Whether it is questioned or not, GSK's transformation road has indeed officially kicked off. In the ancient East, there is a saying: If you are easy to be poor, you will change, and if you change, you will be successful. The general rule is applicable to GSK at this moment for a long time. In the dilemma of continued business decline, such changes are indeed needed to inject new vitality into GSK. Although the temporary \"change makes sense\" has not been confirmed by results in a short period of time, it is worth encouraging that Walmsley is leading GSK to try to get out of the fog. The ten-year plan is long. Maybe Walmsley has been fired one year later. Maybe Walmsley has led GSK to complete the transformation after three years... No one can predict the future, we will wait and see.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/stock/hkstock/hkstocknews/2021-07-17/doc-ikqciyzk5966442.shtml\">医药魔方</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/85675909dc6c67ee0181339c18bcfdff","relate_stocks":{"GSK":"葛兰素史克","GSK.UK":"葛兰素史克"},"source_url":"https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/stock/hkstock/hkstocknews/2021-07-17/doc-ikqciyzk5966442.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2152686859","content_text":"2021年对于葛兰素史克来说显得有些艰难，在加速转型的路上，GSK也不可避免地经历阵痛期。\nGSK 2020年的财报其实就显示出了一定的颓势，全年营收为340.99亿英镑，同比增长仅仅为1%，此外在制药和疫苗业务收入均呈现了不同程度的下跌。进入2021年，GSK第一季度业绩依然有些惨淡，总营收为74.18亿英镑，同比下滑了18%，对于一个老牌豪强MNC来说，这个成绩似乎有点儿说不过去。尤其是GSK的疫苗业务一季度销售额仅仅有12亿英镑，同比下滑近32%，而两年前GSK的疫苗业务收入还位居全球第一。\n图源：GSK 2021年Q1财报\n今年6月初，PharmExec（美国制药经理人杂志）公布了2021年全球制药企业TOP50榜单，GSK排在第九位，尽管近三年以来GSK的排名较为稳定，然而从总体以及核心产品的销售额来看，形势难言乐观。从近三年来的药企排名可以看出，GSK和头部药企的差距正在进一步拉大，在2018年还和前一位销售额差距基本持平的情况下，到了2020年直接被前一名甩开了超过50亿美元的销售额，此外在近两年GSK与排名在后面的药企的销售额差距也在进一步缩小。2020年GSK销售额最高的药物为HIV-1感染药物Triumeq，尽管销售额达到29.6亿美元，但同比下跌了8.7%，今年第一季度的销售额更是同比下跌了23%，随着后面吉利德的猛烈冲击，该药的市场份额前景也显得有些岌岌可危。\n全球药企TOP10（销售额：亿美元）\n注：数据整理自医药魔方，销售额为上一年度\n2021年已经行之过半，在下半年乃至未来GSK能否顺利止住颓势，打好翻身仗，就目前GSK所释放出来的信号而言，拨云睹日的那一天或许不再遥远。\n1 分拆业务，未来十年收入能否持续增长？\n说起GSK，就不得不提一下其现任掌门人——Emma Walmsley。自2016年成为GSK CEO之后，顶着GSK史上首位女性CEO的光环，Walmsley也一直带领着GSK走在转型的路上。面临业务下降的颓势，Walmsley在近期宣布了GSK未来十年的运营以及研发计划，其中重要的一部分是预计在2022年的年中，GSK的消费者健康部分将被分离成为一家独立的公司，而分拆后的新GSK将专注于创新疫苗和药物的开发。\n转型的路上必然少不了质疑之声，以资本大鳄Elliott Management为代表的资本力量就已经在发出质疑的声音。Elliott表示没有科学背景的Walmsley在瞎指挥，甚至呼吁直接解雇Walmsley，不过GSK的董事会还是坚定站在自己掌门人这一边，董事会表示在Walmsley的领导下，GSK能够通过分拆以及未来的长期规划实现跨越式的发展。\n在Walmsley的规划中，GSK一分为二之后，独立出来的制药板块将在未来十年里保持持续增长，到2031年，独立制药业务的收入将会达到460亿美元，其中在未来五年的营业利润将持续增长10%以上，完成分拆之后新GSK将会更专注于传染病、HIV、肿瘤以及免疫/呼吸系统药物的开发。\n而作为GSK的传统优势业务，消费者保健业务在去年为GSK带来了超过130亿美元的收入，分拆之后的表现也是被Walmsley以及董事会一致看好，而此次分拆出去一个年营收超过百亿美元，且还处于增长的消费者保健业务，GSK此举也受到不少争议，就有分析人士认为GSK核心目的或是拓宽融资渠道、需求更高估值以及提升运营效率。\n由单核变成双子星模式，GSK为未来十年的发展作出了巨大的尝试，而背负着巨大压力的Walmsley以及其阵营的伙伴势必将迎来更多的挑战，豪言壮语已经被记录在案，时间将会给出答案。\n2 接连重金引入新产品，GSK能否迎头赶上？\n在宣布十年计划后，GSK就接连吹响了转型路上的冲锋号。\n近期，GSK就和Alector公司联合宣布，两家公司达成了一项全球性战略合作，GSK花了22亿美元重金，获得了两个处在临床阶段的潜在“first-in-class”单抗药物AL001和AL101的共同开发权益，这两款药物将被用于开发治疗包括肌萎缩侧索硬化、帕金森病和阿尔茨海默病在内的多项神经退行性疾病。\n此举也被视为是GSK对当前新的免疫神经病学治疗方法中最有吸引力的基因验证靶点之一的布局。而从GSK对免疫赛道的布局也不难看出其对于免疫药物是极为重视的，在过去的2020年中，Nucala和Trelegy Ellipta均成长为了各自适应症的重磅炸弹药物，Nucala是全球第一款用于治疗嗜酸性粒细胞性哮喘的anti-IL5单抗药物，其在多个适应症拓展上具有突破性意义，在2020年的销售额也达到了12.84亿美元。值得一提的是，Nucala在今年第一季度销售额也达到了3.52亿美元，同比增长了21%，在未来有望持续增长。而另一款药物Trelegy Ellipta作为首个同时获批用于COPD和哮喘的三联吸入制剂，在2020年的销售额首次突破了十亿美元大关，增速高达60%。\n此外Benlysta（贝利尤单抗）作为50年来上市的首个系统性红斑狼疮（SLE）新药，2020年销售额也接近重磅炸弹门槛，并且Benlysta在2020年12月17日被FDA批准用于SLE的严重并发症——狼疮肾炎，成为FDA批准的首个用于治疗狼疮肾炎的药物，再加上进入国家医保目录，Benlysta在2021年第一季度销售收入保持了高双位数增长（18%），顶着众多光环的Benlysta无疑也将成为GSK该赛道旗下的得力干将。\n由此不难看出，以Nucala、Trelegy Ellipta和Benlysta等药物打头阵，再加上GSK目前还坐拥20余款进入三期临床的药物，首发和替补选手竞争力都不容小觑，免疫药物将成为未来支撑GSK业务增长的支柱之一。\n在抗肿瘤药物上，GSK明显也是加快了其布局的步伐。同样在上个月GSK用高达20亿美金引入了一款TIGIT单抗药物，作为继PD-1/PD-L1、CTLA-4之后的热门靶点，TIGIT也吸引了一众医药巨头公司布局，但目前还未有该靶点的产品获批面世。由于直至今年才有一款PD-1产品获批，在PD-1赛道布局明显被甩出几十个身位的GSK也瞄准了这一后起之秀，在未来，GSK将与罗氏、默沙东、BMS等老对手继续捉对厮杀。\n此前GSK以51亿美元天价收购Tesaro并获得了Zejula（尼拉帕利）的开发权益，作为唯一一款每日只需口服1次的PARP抑制剂，Zejula在2020年的业绩也不负所望，取得近50%的增长，2021年第一季度也达到了1.22亿美元的销售额，同比增长了10%。而另一款药物Blenrep作为全球第一款上市的BCMA（B细胞成熟抗原）靶向疗法，在短短5个月内在临床末线疗法应用上就取得4300万美元的销售额，未来前景也较为乐观。\n尽管因为各种原因，GSK在2016年才重返肿瘤药物赛道，在近几年的布局来看，在对肿瘤药物的布局上，GSK似乎有些踯躅不前，这也是导致其在目前并没有一款真正的引领全球的重磅炸弹药物，而在接连引进多款产品扩充管线之后，GSK将会有更多的底气去和其它竞争对手叫板。\n3 拥有新一代疗法，GSK能否成功挑战吉利德HIV霸主地位？\n数据显示，2020年全球HIV药物市场超过了270亿美元，而在这片广阔的市场中，吉利德（Gilead）是目前当之无愧的霸主，其占据了全球HIV市场的62%的市场份额，由吉利德开发的重磅产品Biktarvy（必妥维）更是一时风头无两，在上市的第二年就达到了73亿美元销售额，一跃成为HIV药王。GSK作为老牌HIV玩家，在近几年也一直稳稳占据第二把交椅，尽管受到了Biktarvy的冲击，导致GSK的HIV药物销售额增长率下降，但其开发的Triumeq以及Tivicay在去年还是交出了一份不错的成绩单，销售额分别达到了29.8亿和19.7亿美元。\n图源：新浪医药\n那么在未来，GSK有机会挑战吉利德在HIV领域的霸主地位吗？当然是有可能的。\n其中一个重大原因是GSK成功开发出了Cabenuva，这是目前首款也是唯一一款可以完整治疗HIV-1感染的长效药物，其可以实现每个月给药一次。换句话来说，Cabenuva完成了HIV患者从全年365天口服转变为每月注射一次即全年仅需注射治疗12天的历史性突破。尽管吉利德也在HIV长效给药上有各种布局，但GSK显然已经掌握新一代HIV疗法的主动权，据GSK预测，Cabenuva在未来几年的销售额将会达到70亿美元，其也自信地表示目前GSK在新一代长效给药方面至少领先其他竞争对手五年的时间。\n4 运气不佳，GSK能否赶上新冠疫苗下一班车？\n作为全球最大的疫苗生产商之一， GSK在新冠疫苗的开发历程中却充满了曲折。\n尽管先前与赛诺菲共同宣布进行佐剂重组蛋白新冠疫苗的开发，但不幸的是由于该疫苗在去年的1/2期研究中期结果不甚理想，双方不得以宣布推迟试验计划，直到今年的5月份才共同宣布重启并开始进行三期临床试验。祸不单行，GSK与CureVac的合作更是雪上加霜，6月17日，CureVac公司宣布，其mRNA新冠病毒候选疫苗2b/3期研究的第二次中期分析结果显示，有效性仅为47%，这无疑又给了GSK当头一棒。\n在辉瑞、Moderna因为新冠疫苗赚的盆满钵满的时候，GSK目前甚至连喝汤的资格都没有，不过天无绝人之路，GSK和赛诺菲此前合作研发的的佐剂重组蛋白新冠疫苗在重启临床后一切顺利并可能将于年底前上市。赛诺菲法国公司董事长Bogillot也对此作出了乐观预测，尽管进入该领域较晚，但该疫苗可能在法国和海外将非常有效，他还表示:“随着变异病毒的出现，我们必须实现非常高水平的群体免疫。” 此外，GSK与Vir Biotechnology联合开发的中和抗体疗法VIR-7831在治疗早期COVID-19患者的临床试验结果良好，两家公司已经向美国FDA递交紧急使用授权申请。\n尽管已经错过了最佳上车时机，但作为唯一被WHO确定的三大全球性疾病（疟疾、艾滋病和结核病）研制药物和疫苗的公司，GSK对于疫苗的商业化和产能还是不用过于操心的，而作为未来转型路上的一枚重要棋子，Walmsley怎样率领她的团队在这三条赛道奋起直追精心对弈，这个问题也将困扰她一段时间。\n5 小结\n不管是质疑与否，GSK的转型之路确实是正式拉开了序幕，在古老的东方有这样一句话：易穷则变，变则通，通则久正适用于此刻的GSK。在业务持续走低的窘境之中，确实需要这样的变革来为GSK注入新的活力。尽管暂时“变则通”在短时间内还没有成果来印证，但值得鼓励的是，Walmsley正在带领着GSK试图走出迷雾，十年计划是漫长的，或许在一年之后Walmsley就已经被解雇，也许在三年之后Walmsley已经带领GSK完成转型…..没有人可以预测未来，我们拭目以待。","news_type":1,"symbols_score_info":{"GSK":0.9,"GSK.UK":0.9}},"isVote":1,"tweetType":1,"viewCount":759,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":140852713,"gmtCreate":1625648590332,"gmtModify":1703745605444,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/140852713","repostId":"1131738801","repostType":4,"repost":{"id":"1131738801","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1625645247,"share":"https://ttm.financial/m/news/1131738801?lang=en_US&edition=fundamental","pubTime":"2021-07-07 16:07","market":"us","language":"en","title":"XPeng shares fell 3% in premarket trading.","url":"https://stock-news.laohu8.com/highlight/detail?id=1131738801","media":"Tiger Newspress","summary":"XPeng shares fell 3% in premarket trading.\nShares of Chinese electric vehicle maker Xpeng Inc trade ","content":"<p>XPeng&nbsp;shares&nbsp;fell 3% in premarket&nbsp;trading.</p>\n<p><img src=\"https://static.tigerbbs.com/bfcb0a6ca8a7d5337dcf5cc5e4831321\" tg-width=\"1284\" tg-height=\"619\">Shares of Chinese electric vehicle&nbsp;maker Xpeng Inc&nbsp;trade as low as HK$159.30, down 3.5% from the offer price of HK$165 apiece in the company's dual primary listing debut in Hong Kong.</p>\n<p>Xpeng, which on Wednesday raised $1.8 bln by selling 85 mln shares in Hong Kong listing, will develop future models based on product platforms designed for international markets, its chief executive said</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>XPeng shares fell 3% in premarket trading.</title>\n<style 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margin: 0;line-height: 11px;}\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\">\nXPeng shares fell 3% in premarket trading.\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-07-07 16:07</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>XPeng&nbsp;shares&nbsp;fell 3% in premarket&nbsp;trading.</p>\n<p><img src=\"https://static.tigerbbs.com/bfcb0a6ca8a7d5337dcf5cc5e4831321\" tg-width=\"1284\" tg-height=\"619\">Shares of Chinese electric vehicle&nbsp;maker Xpeng Inc&nbsp;trade as low as HK$159.30, down 3.5% from the offer price of HK$165 apiece in the company's dual primary listing debut in Hong Kong.</p>\n<p>Xpeng, which on Wednesday raised $1.8 bln by selling 85 mln shares in Hong Kong listing, will develop future models based on product platforms designed for international markets, its chief executive said</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XPEV":"小鹏汽车"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131738801","content_text":"XPeng shares fell 3% in premarket trading.\nShares of Chinese electric vehicle maker Xpeng Inc trade as low as HK$159.30, down 3.5% from the offer price of HK$165 apiece in the company's dual primary listing debut in Hong Kong.\nXpeng, which on Wednesday raised $1.8 bln by selling 85 mln shares in Hong Kong listing, will develop future models based on product platforms designed for international markets, its chief executive said","news_type":1,"symbols_score_info":{"XPEV":0.9}},"isVote":1,"tweetType":1,"viewCount":366,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155531407,"gmtCreate":1625444087909,"gmtModify":1703741700118,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"......","listText":"......","text":"......","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/155531407","repostId":"1169840279","repostType":4,"isVote":1,"tweetType":1,"viewCount":388,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":892693005,"gmtCreate":1628652299807,"gmtModify":1676529810146,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"....","listText":"....","text":"....","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/892693005","repostId":"1199109524","repostType":2,"isVote":1,"tweetType":1,"viewCount":2252,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":890458381,"gmtCreate":1628129638843,"gmtModify":1703501773689,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":".....","listText":".....","text":".....","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/890458381","repostId":"2157027483","repostType":2,"isVote":1,"tweetType":1,"viewCount":3305,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144557358,"gmtCreate":1626307544874,"gmtModify":1703757454460,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/144557358","repostId":"1111811630","repostType":4,"repost":{"id":"1111811630","kind":"news","pubTimestamp":1626307234,"share":"https://ttm.financial/m/news/1111811630?lang=en_US&edition=fundamental","pubTime":"2021-07-15 08:00","market":"sh","language":"zh","title":"Past of listing of Chinese Internet companies","url":"https://stock-news.laohu8.com/highlight/detail?id=1111811630","media":"吴杨野餐会","summary":"1983年，刘钢从北京大学法学院毕业，被分配到司法部秘书处，负责为部长撰写日常报告。\n一年后，他感觉工作内容枯燥，想申请调职。有人劝告他，秘书身份可能会更容易得到提升。\n1985年，国家推行“第三梯队","content":"<p>In 1983, Liu Gang graduated from Peking University Law School and was assigned to the Secretariat of the Ministry of Justice, responsible for writing daily reports for the minister.</p><p>A year later, he felt that his job content was boring and wanted to apply for transfer. He was advised that secretarial status might be promoted more easily.</p><p>In 1985, the state carried out the \"third echelon\" cadre reform. The Ministry of Justice selected young cadres to exercise at the grass-roots level, and Liu Gang was included. He voluntarily gave up his post in grass-roots organs and chose to be a grass-roots lawyer.</p><p>At the end of the training period, colleagues returned to the Ministry of Justice to continue their careers, but Liu Gang did not go back. He chose to stay in the law practice.</p><p>At that time, China's lawyer profession was just emerging, and everything was still in the ignorance period. Liu Gang's main business is debt collection.</p><p>Since then, he has lived the life of a \"debt collector migrant worker\": squeezing the hard seat of the train for two days and two nights, sleeping in Datongpu, which costs one dollar a night, running to catch up with the debtors, and avoiding the debtors' thugs and beatings...</p><p>The turning point came in 1989. The Ministry of Justice and the British Bar Association jointly launched a lawyer training project. After Liu Gang applied and passed the exam, he was selected to be sent to a law firm in London, England for internship training.</p><p>He wanted to do intellectual property rights that were hot in China at that time. But a senior partner at a British law firm advised him, \"I suggest you know about the capital market.\" Liu Gang asked, \"What is the capital market?\"</p><p><b>\"A country as big as China will have a capital market sooner or later.\"</b>The partner of the British law firm said.</p><p>In 1990, China ushered in its own capital market, and the Shanghai Stock Exchange and Shenzhen Stock Exchange opened successively.</p><p><img src=\"https://static.tigerbbs.com/99e63397642efd52b0b6a3d4dc5643f2\" tg-width=\"640\" tg-height=\"493\" referrerpolicy=\"no-referrer\"></p><p>▲ In the 1990s, investors lined up at the entrance of the Shanghai Stock Exchange</p><p>(Photography | China News Service Pan Sophie)</p><p>Two years later, China liberalized restrictions on private partnership law firms. Liu Gang and two friends rented an office outside Jianguomen and founded their own law firm: Commerce Law Firm.</p><p>In 2000, Liu Gang got a key opportunity in his career. At that time, Sina was hitting the Nasdaq listing. If successful, it will become the first Chinese Internet company to list in the United States.</p><p>Sina's listing entity is registered in the Cayman Islands. However, Chinese laws restrict foreign investment in the Internet field: foreign investment in China's Internet is prohibited, and foreign companies are also prohibited from conducting Internet business in China.</p><p>In order to bypass these investment restrictions, Liu Gang helped Sina design a complex control architecture. He connects foreign investors and Chinese companies through a series of complex legal contracts, so that overseas listed entities can control domestic operating entities through agreements without direct equity relationship.</p><p><b>Liu Gang used a paper VIE structure to open the curtain of overseas listing of Chinese Internet companies.</b></p><p>In April 2000, Sina successfully landed on Nasdaq in the United States. In June and July of the same year, NetEase and Sohu successively completed their listing on Nasdaq. China's three major portal websites are listed overseas, and Liu Gang is involved. This is very rare in the law profession.</p><p>Since then, for more than 20 years, almost all Chinese Internet companies have adopted the VIE structure of \"Sina Model\" when listing overseas. As of May 2021, a total of 248 Chinese companies have been listed in the United States, with a total market value of US $2.1 trillion. Among them, the number of Internet-related information technology companies is the largest, accounting for more than a quarter.</p><p><b>However, the VIE structure has also become the fulcrum of the stock market game between China and the United States in the next 20 years.</b></p><p>In Liu Gang's statement, the VIE structure \"enables overseas investment companies to control the operations of domestic companies without direct equity relationship\".</p><p>However, in the statement of the U.S. Congress, the VIE structure \"ensures that economic benefits flow to foreign investors, while the control of business operations remains with Chinese companies\".</p><p><b>This special structure has become a typical feature of Chinese concept stocks, and it has also laid the groundwork for controversy and crisis for Chinese Internet companies to list overseas in the past 20 years.</b></p><p>The ten-year history of overseas listing after the global financial crisis in 2008 is the key to help us understand the current situation of Chinese Internet companies. I've divided it into four phases, which are:</p><p><img src=\"https://static.tigerbbs.com/6e5b6f69c3b6db65256d2ee9f3c20b46\" tg-width=\"965\" tg-height=\"367\" referrerpolicy=\"no-referrer\"></p><p><b>01</b></p><p><b>Hunting Chinese companies</b></p><p><b>The first round of overseas listings and short selling (2010-2013)</b></p><p>On November 1, 2011, Zhou Hongyi rushed back to the company in the middle of the night and called a bunch of corresponding supervisors such as website, browser, investor relations, finance, legal affairs, and public relations.</p><p>At 9 o'clock that night, Citron Research, a short-selling agency, issued its first short-selling report against Qihoo 360 before the US stock market opened. An hour later, the report was sent to Zhou Hongyi. \"We were surprised when Citron shorted 360,\" he said.</p><p>On that day, Qihoo 360's stock fell by about 10%.</p><p>Seven months ago, Qihoo 360 was listed on the New York Stock Exchange. Along with it, a large number of Chinese companies landed in the US stock market.</p><p>After the 2008 financial crisis, the U.S. economy has recovered rapidly since 2009, and the international capital market has been active. At the same time, Chinese Internet companies are in a period of rapid expansion and urgently need funds.</p><p>A large number of Internet companies went to the United States to seek listing.<b>From 2010 to 2012, Internet companies such as AutoNavi Map, Qihoo 360, Youku, and Tudou successfully listed in the United States, starting an overseas boom of Chinese concept stocks.</b></p><p><img src=\"https://static.tigerbbs.com/53b96a1e444ead872f2cd9531b979af2\" tg-width=\"692\" tg-height=\"512\" referrerpolicy=\"no-referrer\"></p><p>▲ Changes in the number of Chinese companies listed in the United States from 1970 to 2020</p><p>Data source: Zero2IPO Research Center</p><p>In 2010, a total of about 50 Chinese concept stocks landed in the U.S. stock market, and the number of overseas listings of Chinese companies broke through the peak, which also attracted the attention of \"market vultures\" short-selling institutions.</p><p>Muddy Waters fired the first bullet. In 2010, Carson Block, the founder of Muddy Waters, issued a 30-page short-selling report of Oriental Paper. Oriental Paper's stock price plummeted, and Muddy Waters became famous in the first battle.</p><p>Subsequently, American short-selling institutions represented by Muddy Waters and Citron successively targeted Chinese concept stocks such as Focus Media, Qihoo 360, and New Oriental. Among them, Internet companies have become the hardest hit areas of Chinese concept stocks being hunted.</p><p>Under this round of short-selling institutions, more than 40 Chinese companies had to suspend trading and delist.<b>Chinese concept stocks collectively fell into a crisis of confidence.</b></p><p><b>VIE is a key target for American institutions to short Chinese companies.</b>\"There is a VIE structure in China's Internet industry. Americans think that if you don't have legal provisions, you will always feel confused,\" Zhou Hongyi said.</p><p>On July 17, 2012, New Oriental was investigated by the US Securities and Exchange Commission (SEC) due to the adjustment of VIE structure. Muddy Waters immediately released a short-selling report of more than 90 pages, pointing out that the VIE structure of New Oriental has huge hidden dangers and lacks control.</p><p>Within 48 hours, New Oriental's stock price fell by 60%, hitting a five-year low.</p><p>The New Oriental incident also caused the international market to worry about the VIE structure, and Chinese concept stocks generally fell sharply. Ctrip, Sina, etc. fell by more than 7%, while Dangdang, Qihoo 360, Netease, Sohu, etc. fell by more than 4%.</p><p>After the short-selling tide of Chinese concept stocks broke out, U.S. regulators made further strong attacks. In December 2012, the SEC launched an administrative lawsuit against Deloitte, Ernst & Young, KPMG, PricewaterhouseCoopers, and the China branch of BDO's five major accounting firms.</p><p>The SEC asked them to submit audit papers for nine Chinese concept stocks listed in the United States, but the Big Five accounting firms refused this request, unwilling to violate Chinese law.</p><p>This move has caused Chinese companies listed in the United States to fall into a situation where there is no auditor, forcing Chinese companies to delist.</p><p>The delisting tide of Chinese concept stocks is getting stronger and stronger. The number of Chinese companies listed in the United States decreased from more than 240 in 2010 to less than 200 in 2012.</p><p><img src=\"https://static.tigerbbs.com/2c640046a4853c23afbcdbf6ee3d55e5\" tg-width=\"500\" tg-height=\"339\" referrerpolicy=\"no-referrer\"></p><p>▲ Chinese concept stocks listed in the United States encountered a wave of short selling from 2010 to 2012</p><p>Data source: Guosheng Securities</p><p>Conflicts occur frequently, and China and the United States have incorporated audit cross-border law enforcement into the strategic economic dialogue. In 2013, the China Securities Regulatory Commission and the Ministry of Finance signed a law enforcement cooperation agreement with the US Listed Company Accounting Supervision Board (PCAOB) to formally carry out cross-border audit law enforcement cooperation.</p><p><b>However, the issues of data sovereignty and confidentiality are still difficult contradictions for China and the United States to coordinate.</b>All kinds of subsequent turmoil also arose as a result.</p><p><b>02</b></p><p><b>Shadows under the feast</b></p><p><b>Ali's listing and the review storm of Chinese concept stocks (2014-2017)</b></p><p>In September 2014, Jack Ma entered the UN headquarters. One of the purposes of his trip is to meet with UN Secretary-General Ban Ki-moon through the introduction of Chen Qizong, chairman of Hang Lung Group.</p><p>The two of them stood at the elevator entrance. When Ban Ki-moon came up, Chen Qizong said this to Jack Ma:</p><p>\"I know that Ali was forced to go public in the United States. Hong Kong does not have different rights for the same shares, so there is nothing you can do.<b>But Jack Ma, you have to be careful. Americans stretch their hands very long. One day he will give you trouble.</b>”</p><p>A week ago, Alibaba was successfully listed on the New York Stock Exchange on September 19th. Carnival flooded all over Wall Street.</p><p>That night, on the big black screen of the New York Stock Exchange, the numbers representing Alibaba's opening price kept rolling and continued to climb-70... 80... 90...</p><p>\"The opening price is 92.7!\" A voice shouted.</p><p>Jack Ma looked up and glanced excitedly at the numbers on the screen. He picked up his hammer and struck a golden bronze bell quickly. The crowd surrounding him immediately cheered, flashing lights one after another.</p><p>After more than 2 hours and 12 rounds of inquiries, Alibaba shares finally opened at 23:53 that night. The opening price was US $92.7, a 36.32% increase from the issue price of US $68. The total amount of financing reached US $34.125 billion, setting a record for IPO financing in global history. Alibaba's total market value reached US $228.5 billion, exceeding the GDP of more than 100 countries.</p><p><img src=\"https://static.tigerbbs.com/b666ad1064a3f877e706adaec7dfcd17\" tg-width=\"1080\" tg-height=\"566\" referrerpolicy=\"no-referrer\"></p><p>▲ Jack Ma at Alibaba's US Listing Site in 2014</p><p><b>A number of American securities firms and international capital shared this capital feast.</b>Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan Chase, Morgan Stanley, etc. are among them.</p><p>When Alibaba landed on the New York Stock Exchange, SoftBank held 34.4% of the shares and was the largest shareholder; Yahoo holds 22.6% of the shares, ranking second. Based on the opening price of Alibaba's listing alone, the market value of SoftBank and Yahoo's holdings has reached 78.604 billion US dollars and 51.641 billion US dollars respectively, not counting the part they cashed out from Ali before.</p><p>2014 was another peak of Chinese Internet companies going public in the United States. In addition to Ali, JD.COM, Weibo, Tuniu, Zhaopin Recruitment, etc. have also landed on the New York Stock Exchange and Nasdaq successively, and a total of 12 Internet companies have been listed in the United States throughout the year.</p><p>However, just the month that Alibaba went public, the U.S. Congressional China Economic and Security Review Committee (UCESRC) issued a report called<b>Risks of Chinese Internet Companies on American Stock Exchanges</b>Investigation report of.</p><p>The report uses 17 pages to point out various risks related to the listing of Chinese Internet companies, pointing out that the VIE architecture is not trustworthy. \"Many U.S. legal experts believe that the VIE structure is technically illegal under Chinese law and advise U.S. investors not to make such investments,\" UCESRC declared.</p><p>On the night of Double Eleven in the same year, Jack Ma accepted a 20-minute media interview at Alibaba headquarters in Hangzhou. When talking about Alipay's listing, he made a direct statement:<b>\"For various reasons, Alibaba has no way to list on the A-share market, so we hope that Alipay can be listed on China's A-share market in the future.\"</b></p><p>Obviously, Jack Ma understood Chen Qizong's words. To further understand this statement, we also need to pull the timeline back to the Alipay split incident three years ago.</p><p>In the first quarter of 2011, the People's Bank of China required payment enterprises applying for payment licenses to make a statement on the shareholding ratio of foreign capital. In May, Jack Ma changed the ownership of Alipay, terminating Alibaba Group's control agreement on Zhejiang Alibaba. Zhejiang Alibaba is a wholly-owned holding company of Alipay. This means that,<b>Alipay has changed from a foreign holding company to a purely domestic company.</b></p><p><img src=\"https://static.tigerbbs.com/86b9f8383885bec01116a82dcc7cc0da\" tg-width=\"449\" tg-height=\"329\" referrerpolicy=\"no-referrer\"></p><p>▲ Alipay spin-off equity changes</p><p>However, Jack Ma has not reached an agreement with the board of directors before this round of equity changes. After what was done was done, Jack Ma gave corresponding compensation to the two major shareholders of Yahoo and SoftBank.</p><p>On July 29, 2011, Alibaba Group, Yahoo and SoftBank formally signed an agreement on the Alipay equity transfer incident. Alipay Holdings promised to give Alibaba Group a one-time cash return when it went public. The return amount is 37.5% of the total market value of Alipay's IPO price at the time of listing, not less than US $2 billion and not more than US $6 billion.</p><p>For this reason, Jack Ma is blamed for \"dishonesty\" and \"undermining foreign investors' confidence in Chinese concept stocks VIE\". He rarely took the initiative to accept a large-scale exclusive interview with domestic media, and came forward to explain that everything was for Alipay to obtain a payment license in compliance.</p><p>\"I said, brother, if you start a small joint venture, it's okay.<b>What you are engaged in is Alipay, finance, and you are touching sensitive areas more and more. Finance is data, and something will definitely go wrong.</b>Yang didn't believe it, but then they did. \" Jack Ma said in an exclusive interview with Esquire.</p><p>But at that time, most people thought that Jack Ma was using the government as a shield, and most of them laughed at it. Jack Ma quit Weibo angrily.</p><p>Before quitting, Jack Ma sent out his last Weibo. No text, just punctuation:<b>Question marks, exclamation marks, and a string of ellipses</b>。</p><p>Three years after the spin-off of Alipay, Ant Financial was established in 2014, entering inclusive finance from the payment field.</p><p>Six years later, just before the listing of Ant Financial, Jack Ma gave that famous speech at the Bund Financial Summit at the end of October 2020. On November 3, the Shanghai Stock Exchange and the Hong Kong Stock Exchange successively issued emergency notices to suspend Ant Financial's listing on the Science and Technology Innovation Board and H shares.</p><p>At this time, everyone suddenly realized.<b>Nine years ago, Jack Ma did not overestimate the determination of the Chinese government.</b></p><p><b>03</b></p><p><b>Flood into the sea</b></p><p><b>A-Share and H-Share New Economic Reform (2018-2019)</b></p><p>During the two sessions in 2018, Liu Shiyu, then chairman of the China Securities Regulatory Commission, talked about the overseas listing of China's new economy companies, saying that due to the specific institutional environment and market capacity at that time, some new economy companies in China chose to list overseas, which is a good thing. But it is also a pity that the country has not enjoyed the fruits of their growth.</p><p><b>\"Entering a new era, this regret can't happen again.\"</b>Liu Shiyu said.</p><p>\"Standing on the wind, pigs can fly.\" Lei Jun, who said this sentence, once again pushed Xiaomi to the wind of the times.<b>He wants Xiaomi to become the first Internet company to list mainland A-shares and Hong Kong H-shares simultaneously.</b></p><p>On May 3, 2018, Lei Jun personally flew to Hong Kong to visit Li Ka-shing, the richest man in Hong Kong, holding two Xiaomi mobile phones. On the same day, Xiaomi submitted its listing prospectus to the Hong Kong Stock Exchange. Li Ka-shing's love general Huo Jianning confirmed to the media that Li Ka-shing spent HK $230 million to subscribe for Xiaomi shares. In addition to Li Ka-shing, Jack Ma and Pony Ma, two major domestic Internet giants, also subscribed for Xiaomi shares.</p><p><img src=\"https://static.tigerbbs.com/c1dfd540577403bd287f47c1209b66c3\" tg-width=\"460\" tg-height=\"304\" referrerpolicy=\"no-referrer\"></p><p>▲ Lei Jun meets Li Ka-shing</p><p>In the mainland, Xiaomi even set a 12-day \"lightning\" meeting record. On June 7 of the same year, Xiaomi applied to the China Securities Regulatory Commission for the issuance of CDR (Depositary Receipt) for listing, which was accepted on the same day. On the 14th, Xiaomi updated its prospectus and received feedback from the China Securities Regulatory Commission that night, which is scheduled to be reviewed at the meeting on the 19th.</p><p>At that time,<b>China Securities Regulatory Commission and Hong Kong Stock Exchange are scrambling to promote the listing reform of the new economy.</b></p><p>In December 2017, the Hong Kong Stock Exchange issued the Market Consultation Summary of the Framework Consultation Document on the Proposed Establishment of Innovation Board, announcing the acceptance of new economy companies with different voting rights structures to list in Hong Kong.</p><p>Three months later, the General Office of the State Council forwarded the China Securities Regulatory Commission's \"Several Opinions on Carrying out the Pilot Program of Domestic Issuance of Stocks or Depositary Receipts by Innovative Enterprises\", allowing new economy enterprises listed overseas to issue CDRs (depositary receipts) in the mainland A-share market, and promoting new economy enterprises including the Internet to return to A-share listing.</p><p>However, Xiaomi was suddenly stopped from listing on mainland CDR. On June 14, 2018, the China Securities Regulatory Commission issued 84 questions against Xiaomi. Five days later, Xiaomi announced that it would postpone the meeting of the issuance review committee to review the company's CDR issuance application. After listing in Hong Kong first, choose the opportunity to list in China by issuing CDRs.</p><p>The Hong Kong listing has also been full of twists and turns. On July 9 of that year, Xiaomi completed its listing on the Hong Kong Stock Exchange. On the day of listing, Xiaomi shares were included in the comprehensive constituent stocks of the Hang Seng Index and will enter the Hong Kong Stock Connect under normal circumstances, allowing investors from mainland China to directly purchase Xiaomi shares.</p><p>Unexpectedly, the Shanghai and Shenzhen Stock Exchanges suddenly issued a notice on July 14th, temporarily refusing to include the shares of companies with different rights, foreign companies and stapled securities in the scope of Hong Kong Stock Connect on the grounds that \"mainland investors are not familiar with them\". Xiaomi was shut out.</p><p>Two days later, Li Xiaojia, CEO of Hong Kong Stock Exchange, flew from Hong Kong to Beijing urgently to meet and negotiate with the relevant person in charge of China Securities Regulatory Commission. \"We have been communicating with the mainland China Securities Regulatory Commission for weeks and months. It's best to take it all in this time and move forward according to the normal Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect procedures. But mainland exchanges may have some different opinions.\" Li Xiaojia said.</p><p><b>This dispute is related to the future direction of Chinese Internet companies' listing. Can the door to a new era be opened?</b></p><p>For a long time, Chinese Internet companies have only one choice to go public in the United States, because mainland A-shares and Hong Kong H-shares did not accept the structure of different rights for the same share in the past. Even if HKEx is determined to reform, poor liquidity will still become a key constraint for Internet companies to go public in Hong Kong.</p><p>Only when Hong Kong Stock Connect accepts new economy companies and huge amounts of funds from mainland China can go south, can the door to the eastern world truly open to Internet companies.</p><p><b>The storm is temporary and the direction is certain.</b></p><p>In 2018, the Hong Kong Stock Exchange won the first place in the IPO rankings of global exchanges, and the annual IPO fundraising amount reached HK $277.85 billion, setting a new high since 2010.</p><p>A total of 28 new economy companies and biotechnology companies went public in Hong Kong throughout the year. Among them, Xiaomi and Meituan ranked the second and third largest companies in Hong Kong listed fundraising with HK $42.61 billion and HK $33.14 billion respectively.</p><p>In October 2019, the Shanghai Stock Exchange and the Shenzhen Stock Exchange announced that Xiaomi and Meituan were included in the Hong Kong Stock Connect.</p><p>Taking advantage of this momentum, Chinese Internet companies, including Ali, Netease, JD.COM, etc., have returned from overseas one after another, rushing to go to Hong Kong for secondary listing. By 2021, the Hong Kong market has gathered eight Internet giants: Tencent, Ali, Meituan, Kuaishou, JD.com, Xiaomi, Baidu, and NetEase.</p><p><img src=\"https://static.tigerbbs.com/dd1e5900f6cb5582296cd123573d40b6\" tg-width=\"1080\" tg-height=\"570\" referrerpolicy=\"no-referrer\"></p><p>Data source: Hong Kong Exchange</p><p>At the same stage, the listing of Chinese Internet companies in the United States ushered in the third peak. In 2018 and 2019, 38 and 32 Chinese companies went public in the United States respectively, most of which were mainly Internet new economy companies, including iQiyi, Douyu, NetEase Youdao, etc.</p><p>In October 2019, China and the United States reached a consensus on the retrieval of audit working papers of companies listed in the United States audited by Hong Kong accounting firms and deposited in mainland China. In response to a reporter's question, the China Securities Regulatory Commission said that the two sides \"maintain a smooth cooperative relationship\".</p><p>Everything seemed thriving.</p><p>People didn't expect that just a year later,<b>New crises spew out like volcanic lava, accumulated for a long time</b>。</p><p><b>04</b></p><p><b>Era of new crisis</b></p><p><b>The plight and future of Didi, Byte, and Pinduoduo (2020-today)</b></p><p>July 1st, the 100th anniversary of the founding of the Party. In the early morning of the same day, Didi went public in the United States, raising US $4.4 billion.</p><p>This is the largest IPO of a Chinese company in the United States since 2014. There are no photos of ringing the bell, no announcement on official website, few media reports, and employees do not send friends.</p><p>On July 2nd, the China Cyber Security Review Office issued an announcement stating that in order to prevent national data security risks, safeguard national security and protect public interests, the \"Didi Chuxing\" will be reviewed in accordance with the National Security Law and the Cyber Security Law. During the review, \"Didi Chuxing\" stopped registering new users. Didi only appeared on Weibo's hot searches and media headlines when it went public.</p><p>On July 9th, all 25 apps owned by Didi Company were removed from the shelves.</p><p>Ray Dalio, founder of Bridgewater Fund, the world's largest hedge fund, once published a 20,000-word article \"Changing World Order\" on his LinkedIn homepage. He pointed out that the \"Populism Index\", which measures global conflicts, has now reached an all-time high.</p><p>\"We are heading into the abyss of polarization and populism.\" Dalio warned,<b>The polarization between the rich and the poor, political polarization and extreme nationalism we are facing today are very similar to those during World War II.</b></p><p><img src=\"https://static.tigerbbs.com/82a4ead3b25817350b19c65a0fb2c2ba\" tg-width=\"864\" tg-height=\"311\" referrerpolicy=\"no-referrer\"></p><p>▲ The polarization between the rich and the poor leads to extreme nationalism at this stage is similar to that of World War II</p><p>Data source: Bridgewater Fund</p><p>On March 25, 2021, the U.S. Securities and Exchange Commission (SEC) issued an announcement to adopt the final amendment to the Holding Foreign Companies Accountable Act (HFCAA). The bill stipulates,<b>Foreign issuers who fail to meet the U.S. Public Company Accounting Oversight Board (PCAOB) inspection requirements for accounting firms for three consecutive years will be delisted and delisted.</b></p><p>Chinese Foreign Ministry spokesperson Hua Chunying responded at the press conference: \"HFCAA is completely unreasonable political suppression of Chinese listed companies in the United States, seriously distorting the basic principles of market economy that the United States has always advertised, and depriving American investors and the American public of the opportunity to share the development dividends of Chinese enterprises.\"</p><p>According to official data from the US PCAOB, as of April 2020,<b>Among the foreign listed companies that do not accept PCAOB's audit papers, companies in mainland China and Hong Kong account for nearly 90%.</b></p><p>With Didi's silent listing, it successfully threw itself into the eye of the typhoon in the Sino-US stock market game storm.</p><p>On July 7th, WeChat official account, a subsidiary of People's Daily, published two reports commenting on the Didi incident: \"Didi is far from the level of employment to make the government work. If Didi dies later, the driver will change the platform to take orders, and we will change the platform to take a taxi, and our life will not be affected in any way.\"</p><p>On July 8, US Democratic Senator Chris Van Hollen called on the US Securities and Exchange Commission to thoroughly investigate Didi's listing.</p><p><b>The internet is in an eventful time. Some things look together and become intriguing.</b></p><p>Before the Didi incident, Huang Zheng stepped down as CEO of Pinduoduo in March this year; In May, Zhang Yiming stepped down as CEO of ByteDance.</p><p>Previously, many people regarded this as the result of Internet antitrust. But they missed a key clue:</p><p><b>Didi and Pinduoduo are both listed in the United States. As for ByteDance, Trump's ban on Tiktok says it all.</b></p><p><b>Tencent and Meituan, Pony Ma Huateng and Wang Xing, which are listed in Hong Kong, are still in the position of CEO.</b></p><p>Recently, all the Internet shocks around us are sending us a signal:</p><p><b>In the Sino-US stock market game, in the past, the situation that the United States actively attacked and China passively defended will become history. The determination and actions of China's supervision have begun to emerge.</b></p><p>Some Internet companies are still stuck in the habitual thinking of the first 20 years; Some Internet companies have sailed to new ports.</p><p><b>They are destined to usher in very different fates.</b></p><p><img src=\"https://static.tigerbbs.com/a76220741e2982f75e2d7176ce362e38\" tg-width=\"1080\" tg-height=\"608\" referrerpolicy=\"no-referrer\"></p>","source":"lsy1626307243676","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>Past of listing of Chinese Internet companies</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\">\nPast of listing of Chinese Internet companies\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">吴杨野餐会</strong><span class=\"h-time small\">2021-07-15 08:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>In 1983, Liu Gang graduated from Peking University Law School and was assigned to the Secretariat of the Ministry of Justice, responsible for writing daily reports for the minister.</p><p>A year later, he felt that his job content was boring and wanted to apply for transfer. He was advised that secretarial status might be promoted more easily.</p><p>In 1985, the state carried out the \"third echelon\" cadre reform. The Ministry of Justice selected young cadres to exercise at the grass-roots level, and Liu Gang was included. He voluntarily gave up his post in grass-roots organs and chose to be a grass-roots lawyer.</p><p>At the end of the training period, colleagues returned to the Ministry of Justice to continue their careers, but Liu Gang did not go back. He chose to stay in the law practice.</p><p>At that time, China's lawyer profession was just emerging, and everything was still in the ignorance period. Liu Gang's main business is debt collection.</p><p>Since then, he has lived the life of a \"debt collector migrant worker\": squeezing the hard seat of the train for two days and two nights, sleeping in Datongpu, which costs one dollar a night, running to catch up with the debtors, and avoiding the debtors' thugs and beatings...</p><p>The turning point came in 1989. The Ministry of Justice and the British Bar Association jointly launched a lawyer training project. After Liu Gang applied and passed the exam, he was selected to be sent to a law firm in London, England for internship training.</p><p>He wanted to do intellectual property rights that were hot in China at that time. But a senior partner at a British law firm advised him, \"I suggest you know about the capital market.\" Liu Gang asked, \"What is the capital market?\"</p><p><b>\"A country as big as China will have a capital market sooner or later.\"</b>The partner of the British law firm said.</p><p>In 1990, China ushered in its own capital market, and the Shanghai Stock Exchange and Shenzhen Stock Exchange opened successively.</p><p><img src=\"https://static.tigerbbs.com/99e63397642efd52b0b6a3d4dc5643f2\" tg-width=\"640\" tg-height=\"493\" referrerpolicy=\"no-referrer\"></p><p>▲ In the 1990s, investors lined up at the entrance of the Shanghai Stock Exchange</p><p>(Photography | China News Service Pan Sophie)</p><p>Two years later, China liberalized restrictions on private partnership law firms. Liu Gang and two friends rented an office outside Jianguomen and founded their own law firm: Commerce Law Firm.</p><p>In 2000, Liu Gang got a key opportunity in his career. At that time, Sina was hitting the Nasdaq listing. If successful, it will become the first Chinese Internet company to list in the United States.</p><p>Sina's listing entity is registered in the Cayman Islands. However, Chinese laws restrict foreign investment in the Internet field: foreign investment in China's Internet is prohibited, and foreign companies are also prohibited from conducting Internet business in China.</p><p>In order to bypass these investment restrictions, Liu Gang helped Sina design a complex control architecture. He connects foreign investors and Chinese companies through a series of complex legal contracts, so that overseas listed entities can control domestic operating entities through agreements without direct equity relationship.</p><p><b>Liu Gang used a paper VIE structure to open the curtain of overseas listing of Chinese Internet companies.</b></p><p>In April 2000, Sina successfully landed on Nasdaq in the United States. In June and July of the same year, NetEase and Sohu successively completed their listing on Nasdaq. China's three major portal websites are listed overseas, and Liu Gang is involved. This is very rare in the law profession.</p><p>Since then, for more than 20 years, almost all Chinese Internet companies have adopted the VIE structure of \"Sina Model\" when listing overseas. As of May 2021, a total of 248 Chinese companies have been listed in the United States, with a total market value of US $2.1 trillion. Among them, the number of Internet-related information technology companies is the largest, accounting for more than a quarter.</p><p><b>However, the VIE structure has also become the fulcrum of the stock market game between China and the United States in the next 20 years.</b></p><p>In Liu Gang's statement, the VIE structure \"enables overseas investment companies to control the operations of domestic companies without direct equity relationship\".</p><p>However, in the statement of the U.S. Congress, the VIE structure \"ensures that economic benefits flow to foreign investors, while the control of business operations remains with Chinese companies\".</p><p><b>This special structure has become a typical feature of Chinese concept stocks, and it has also laid the groundwork for controversy and crisis for Chinese Internet companies to list overseas in the past 20 years.</b></p><p>The ten-year history of overseas listing after the global financial crisis in 2008 is the key to help us understand the current situation of Chinese Internet companies. I've divided it into four phases, which are:</p><p><img src=\"https://static.tigerbbs.com/6e5b6f69c3b6db65256d2ee9f3c20b46\" tg-width=\"965\" tg-height=\"367\" referrerpolicy=\"no-referrer\"></p><p><b>01</b></p><p><b>Hunting Chinese companies</b></p><p><b>The first round of overseas listings and short selling (2010-2013)</b></p><p>On November 1, 2011, Zhou Hongyi rushed back to the company in the middle of the night and called a bunch of corresponding supervisors such as website, browser, investor relations, finance, legal affairs, and public relations.</p><p>At 9 o'clock that night, Citron Research, a short-selling agency, issued its first short-selling report against Qihoo 360 before the US stock market opened. An hour later, the report was sent to Zhou Hongyi. \"We were surprised when Citron shorted 360,\" he said.</p><p>On that day, Qihoo 360's stock fell by about 10%.</p><p>Seven months ago, Qihoo 360 was listed on the New York Stock Exchange. Along with it, a large number of Chinese companies landed in the US stock market.</p><p>After the 2008 financial crisis, the U.S. economy has recovered rapidly since 2009, and the international capital market has been active. At the same time, Chinese Internet companies are in a period of rapid expansion and urgently need funds.</p><p>A large number of Internet companies went to the United States to seek listing.<b>From 2010 to 2012, Internet companies such as AutoNavi Map, Qihoo 360, Youku, and Tudou successfully listed in the United States, starting an overseas boom of Chinese concept stocks.</b></p><p><img src=\"https://static.tigerbbs.com/53b96a1e444ead872f2cd9531b979af2\" tg-width=\"692\" tg-height=\"512\" referrerpolicy=\"no-referrer\"></p><p>▲ Changes in the number of Chinese companies listed in the United States from 1970 to 2020</p><p>Data source: Zero2IPO Research Center</p><p>In 2010, a total of about 50 Chinese concept stocks landed in the U.S. stock market, and the number of overseas listings of Chinese companies broke through the peak, which also attracted the attention of \"market vultures\" short-selling institutions.</p><p>Muddy Waters fired the first bullet. In 2010, Carson Block, the founder of Muddy Waters, issued a 30-page short-selling report of Oriental Paper. Oriental Paper's stock price plummeted, and Muddy Waters became famous in the first battle.</p><p>Subsequently, American short-selling institutions represented by Muddy Waters and Citron successively targeted Chinese concept stocks such as Focus Media, Qihoo 360, and New Oriental. Among them, Internet companies have become the hardest hit areas of Chinese concept stocks being hunted.</p><p>Under this round of short-selling institutions, more than 40 Chinese companies had to suspend trading and delist.<b>Chinese concept stocks collectively fell into a crisis of confidence.</b></p><p><b>VIE is a key target for American institutions to short Chinese companies.</b>\"There is a VIE structure in China's Internet industry. Americans think that if you don't have legal provisions, you will always feel confused,\" Zhou Hongyi said.</p><p>On July 17, 2012, New Oriental was investigated by the US Securities and Exchange Commission (SEC) due to the adjustment of VIE structure. Muddy Waters immediately released a short-selling report of more than 90 pages, pointing out that the VIE structure of New Oriental has huge hidden dangers and lacks control.</p><p>Within 48 hours, New Oriental's stock price fell by 60%, hitting a five-year low.</p><p>The New Oriental incident also caused the international market to worry about the VIE structure, and Chinese concept stocks generally fell sharply. Ctrip, Sina, etc. fell by more than 7%, while Dangdang, Qihoo 360, Netease, Sohu, etc. fell by more than 4%.</p><p>After the short-selling tide of Chinese concept stocks broke out, U.S. regulators made further strong attacks. In December 2012, the SEC launched an administrative lawsuit against Deloitte, Ernst & Young, KPMG, PricewaterhouseCoopers, and the China branch of BDO's five major accounting firms.</p><p>The SEC asked them to submit audit papers for nine Chinese concept stocks listed in the United States, but the Big Five accounting firms refused this request, unwilling to violate Chinese law.</p><p>This move has caused Chinese companies listed in the United States to fall into a situation where there is no auditor, forcing Chinese companies to delist.</p><p>The delisting tide of Chinese concept stocks is getting stronger and stronger. The number of Chinese companies listed in the United States decreased from more than 240 in 2010 to less than 200 in 2012.</p><p><img src=\"https://static.tigerbbs.com/2c640046a4853c23afbcdbf6ee3d55e5\" tg-width=\"500\" tg-height=\"339\" referrerpolicy=\"no-referrer\"></p><p>▲ Chinese concept stocks listed in the United States encountered a wave of short selling from 2010 to 2012</p><p>Data source: Guosheng Securities</p><p>Conflicts occur frequently, and China and the United States have incorporated audit cross-border law enforcement into the strategic economic dialogue. In 2013, the China Securities Regulatory Commission and the Ministry of Finance signed a law enforcement cooperation agreement with the US Listed Company Accounting Supervision Board (PCAOB) to formally carry out cross-border audit law enforcement cooperation.</p><p><b>However, the issues of data sovereignty and confidentiality are still difficult contradictions for China and the United States to coordinate.</b>All kinds of subsequent turmoil also arose as a result.</p><p><b>02</b></p><p><b>Shadows under the feast</b></p><p><b>Ali's listing and the review storm of Chinese concept stocks (2014-2017)</b></p><p>In September 2014, Jack Ma entered the UN headquarters. One of the purposes of his trip is to meet with UN Secretary-General Ban Ki-moon through the introduction of Chen Qizong, chairman of Hang Lung Group.</p><p>The two of them stood at the elevator entrance. When Ban Ki-moon came up, Chen Qizong said this to Jack Ma:</p><p>\"I know that Ali was forced to go public in the United States. Hong Kong does not have different rights for the same shares, so there is nothing you can do.<b>But Jack Ma, you have to be careful. Americans stretch their hands very long. One day he will give you trouble.</b>”</p><p>A week ago, Alibaba was successfully listed on the New York Stock Exchange on September 19th. Carnival flooded all over Wall Street.</p><p>That night, on the big black screen of the New York Stock Exchange, the numbers representing Alibaba's opening price kept rolling and continued to climb-70... 80... 90...</p><p>\"The opening price is 92.7!\" A voice shouted.</p><p>Jack Ma looked up and glanced excitedly at the numbers on the screen. He picked up his hammer and struck a golden bronze bell quickly. The crowd surrounding him immediately cheered, flashing lights one after another.</p><p>After more than 2 hours and 12 rounds of inquiries, Alibaba shares finally opened at 23:53 that night. The opening price was US $92.7, a 36.32% increase from the issue price of US $68. The total amount of financing reached US $34.125 billion, setting a record for IPO financing in global history. Alibaba's total market value reached US $228.5 billion, exceeding the GDP of more than 100 countries.</p><p><img src=\"https://static.tigerbbs.com/b666ad1064a3f877e706adaec7dfcd17\" tg-width=\"1080\" tg-height=\"566\" referrerpolicy=\"no-referrer\"></p><p>▲ Jack Ma at Alibaba's US Listing Site in 2014</p><p><b>A number of American securities firms and international capital shared this capital feast.</b>Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan Chase, Morgan Stanley, etc. are among them.</p><p>When Alibaba landed on the New York Stock Exchange, SoftBank held 34.4% of the shares and was the largest shareholder; Yahoo holds 22.6% of the shares, ranking second. Based on the opening price of Alibaba's listing alone, the market value of SoftBank and Yahoo's holdings has reached 78.604 billion US dollars and 51.641 billion US dollars respectively, not counting the part they cashed out from Ali before.</p><p>2014 was another peak of Chinese Internet companies going public in the United States. In addition to Ali, JD.COM, Weibo, Tuniu, Zhaopin Recruitment, etc. have also landed on the New York Stock Exchange and Nasdaq successively, and a total of 12 Internet companies have been listed in the United States throughout the year.</p><p>However, just the month that Alibaba went public, the U.S. Congressional China Economic and Security Review Committee (UCESRC) issued a report called<b>Risks of Chinese Internet Companies on American Stock Exchanges</b>Investigation report of.</p><p>The report uses 17 pages to point out various risks related to the listing of Chinese Internet companies, pointing out that the VIE architecture is not trustworthy. \"Many U.S. legal experts believe that the VIE structure is technically illegal under Chinese law and advise U.S. investors not to make such investments,\" UCESRC declared.</p><p>On the night of Double Eleven in the same year, Jack Ma accepted a 20-minute media interview at Alibaba headquarters in Hangzhou. When talking about Alipay's listing, he made a direct statement:<b>\"For various reasons, Alibaba has no way to list on the A-share market, so we hope that Alipay can be listed on China's A-share market in the future.\"</b></p><p>Obviously, Jack Ma understood Chen Qizong's words. To further understand this statement, we also need to pull the timeline back to the Alipay split incident three years ago.</p><p>In the first quarter of 2011, the People's Bank of China required payment enterprises applying for payment licenses to make a statement on the shareholding ratio of foreign capital. In May, Jack Ma changed the ownership of Alipay, terminating Alibaba Group's control agreement on Zhejiang Alibaba. Zhejiang Alibaba is a wholly-owned holding company of Alipay. This means that,<b>Alipay has changed from a foreign holding company to a purely domestic company.</b></p><p><img src=\"https://static.tigerbbs.com/86b9f8383885bec01116a82dcc7cc0da\" tg-width=\"449\" tg-height=\"329\" referrerpolicy=\"no-referrer\"></p><p>▲ Alipay spin-off equity changes</p><p>However, Jack Ma has not reached an agreement with the board of directors before this round of equity changes. After what was done was done, Jack Ma gave corresponding compensation to the two major shareholders of Yahoo and SoftBank.</p><p>On July 29, 2011, Alibaba Group, Yahoo and SoftBank formally signed an agreement on the Alipay equity transfer incident. Alipay Holdings promised to give Alibaba Group a one-time cash return when it went public. The return amount is 37.5% of the total market value of Alipay's IPO price at the time of listing, not less than US $2 billion and not more than US $6 billion.</p><p>For this reason, Jack Ma is blamed for \"dishonesty\" and \"undermining foreign investors' confidence in Chinese concept stocks VIE\". He rarely took the initiative to accept a large-scale exclusive interview with domestic media, and came forward to explain that everything was for Alipay to obtain a payment license in compliance.</p><p>\"I said, brother, if you start a small joint venture, it's okay.<b>What you are engaged in is Alipay, finance, and you are touching sensitive areas more and more. Finance is data, and something will definitely go wrong.</b>Yang didn't believe it, but then they did. \" Jack Ma said in an exclusive interview with Esquire.</p><p>But at that time, most people thought that Jack Ma was using the government as a shield, and most of them laughed at it. Jack Ma quit Weibo angrily.</p><p>Before quitting, Jack Ma sent out his last Weibo. No text, just punctuation:<b>Question marks, exclamation marks, and a string of ellipses</b>。</p><p>Three years after the spin-off of Alipay, Ant Financial was established in 2014, entering inclusive finance from the payment field.</p><p>Six years later, just before the listing of Ant Financial, Jack Ma gave that famous speech at the Bund Financial Summit at the end of October 2020. On November 3, the Shanghai Stock Exchange and the Hong Kong Stock Exchange successively issued emergency notices to suspend Ant Financial's listing on the Science and Technology Innovation Board and H shares.</p><p>At this time, everyone suddenly realized.<b>Nine years ago, Jack Ma did not overestimate the determination of the Chinese government.</b></p><p><b>03</b></p><p><b>Flood into the sea</b></p><p><b>A-Share and H-Share New Economic Reform (2018-2019)</b></p><p>During the two sessions in 2018, Liu Shiyu, then chairman of the China Securities Regulatory Commission, talked about the overseas listing of China's new economy companies, saying that due to the specific institutional environment and market capacity at that time, some new economy companies in China chose to list overseas, which is a good thing. But it is also a pity that the country has not enjoyed the fruits of their growth.</p><p><b>\"Entering a new era, this regret can't happen again.\"</b>Liu Shiyu said.</p><p>\"Standing on the wind, pigs can fly.\" Lei Jun, who said this sentence, once again pushed Xiaomi to the wind of the times.<b>He wants Xiaomi to become the first Internet company to list mainland A-shares and Hong Kong H-shares simultaneously.</b></p><p>On May 3, 2018, Lei Jun personally flew to Hong Kong to visit Li Ka-shing, the richest man in Hong Kong, holding two Xiaomi mobile phones. On the same day, Xiaomi submitted its listing prospectus to the Hong Kong Stock Exchange. Li Ka-shing's love general Huo Jianning confirmed to the media that Li Ka-shing spent HK $230 million to subscribe for Xiaomi shares. In addition to Li Ka-shing, Jack Ma and Pony Ma, two major domestic Internet giants, also subscribed for Xiaomi shares.</p><p><img src=\"https://static.tigerbbs.com/c1dfd540577403bd287f47c1209b66c3\" tg-width=\"460\" tg-height=\"304\" referrerpolicy=\"no-referrer\"></p><p>▲ Lei Jun meets Li Ka-shing</p><p>In the mainland, Xiaomi even set a 12-day \"lightning\" meeting record. On June 7 of the same year, Xiaomi applied to the China Securities Regulatory Commission for the issuance of CDR (Depositary Receipt) for listing, which was accepted on the same day. On the 14th, Xiaomi updated its prospectus and received feedback from the China Securities Regulatory Commission that night, which is scheduled to be reviewed at the meeting on the 19th.</p><p>At that time,<b>China Securities Regulatory Commission and Hong Kong Stock Exchange are scrambling to promote the listing reform of the new economy.</b></p><p>In December 2017, the Hong Kong Stock Exchange issued the Market Consultation Summary of the Framework Consultation Document on the Proposed Establishment of Innovation Board, announcing the acceptance of new economy companies with different voting rights structures to list in Hong Kong.</p><p>Three months later, the General Office of the State Council forwarded the China Securities Regulatory Commission's \"Several Opinions on Carrying out the Pilot Program of Domestic Issuance of Stocks or Depositary Receipts by Innovative Enterprises\", allowing new economy enterprises listed overseas to issue CDRs (depositary receipts) in the mainland A-share market, and promoting new economy enterprises including the Internet to return to A-share listing.</p><p>However, Xiaomi was suddenly stopped from listing on mainland CDR. On June 14, 2018, the China Securities Regulatory Commission issued 84 questions against Xiaomi. Five days later, Xiaomi announced that it would postpone the meeting of the issuance review committee to review the company's CDR issuance application. After listing in Hong Kong first, choose the opportunity to list in China by issuing CDRs.</p><p>The Hong Kong listing has also been full of twists and turns. On July 9 of that year, Xiaomi completed its listing on the Hong Kong Stock Exchange. On the day of listing, Xiaomi shares were included in the comprehensive constituent stocks of the Hang Seng Index and will enter the Hong Kong Stock Connect under normal circumstances, allowing investors from mainland China to directly purchase Xiaomi shares.</p><p>Unexpectedly, the Shanghai and Shenzhen Stock Exchanges suddenly issued a notice on July 14th, temporarily refusing to include the shares of companies with different rights, foreign companies and stapled securities in the scope of Hong Kong Stock Connect on the grounds that \"mainland investors are not familiar with them\". Xiaomi was shut out.</p><p>Two days later, Li Xiaojia, CEO of Hong Kong Stock Exchange, flew from Hong Kong to Beijing urgently to meet and negotiate with the relevant person in charge of China Securities Regulatory Commission. \"We have been communicating with the mainland China Securities Regulatory Commission for weeks and months. It's best to take it all in this time and move forward according to the normal Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect procedures. But mainland exchanges may have some different opinions.\" Li Xiaojia said.</p><p><b>This dispute is related to the future direction of Chinese Internet companies' listing. Can the door to a new era be opened?</b></p><p>For a long time, Chinese Internet companies have only one choice to go public in the United States, because mainland A-shares and Hong Kong H-shares did not accept the structure of different rights for the same share in the past. Even if HKEx is determined to reform, poor liquidity will still become a key constraint for Internet companies to go public in Hong Kong.</p><p>Only when Hong Kong Stock Connect accepts new economy companies and huge amounts of funds from mainland China can go south, can the door to the eastern world truly open to Internet companies.</p><p><b>The storm is temporary and the direction is certain.</b></p><p>In 2018, the Hong Kong Stock Exchange won the first place in the IPO rankings of global exchanges, and the annual IPO fundraising amount reached HK $277.85 billion, setting a new high since 2010.</p><p>A total of 28 new economy companies and biotechnology companies went public in Hong Kong throughout the year. Among them, Xiaomi and Meituan ranked the second and third largest companies in Hong Kong listed fundraising with HK $42.61 billion and HK $33.14 billion respectively.</p><p>In October 2019, the Shanghai Stock Exchange and the Shenzhen Stock Exchange announced that Xiaomi and Meituan were included in the Hong Kong Stock Connect.</p><p>Taking advantage of this momentum, Chinese Internet companies, including Ali, Netease, JD.COM, etc., have returned from overseas one after another, rushing to go to Hong Kong for secondary listing. By 2021, the Hong Kong market has gathered eight Internet giants: Tencent, Ali, Meituan, Kuaishou, JD.com, Xiaomi, Baidu, and NetEase.</p><p><img src=\"https://static.tigerbbs.com/dd1e5900f6cb5582296cd123573d40b6\" tg-width=\"1080\" tg-height=\"570\" referrerpolicy=\"no-referrer\"></p><p>Data source: Hong Kong Exchange</p><p>At the same stage, the listing of Chinese Internet companies in the United States ushered in the third peak. In 2018 and 2019, 38 and 32 Chinese companies went public in the United States respectively, most of which were mainly Internet new economy companies, including iQiyi, Douyu, NetEase Youdao, etc.</p><p>In October 2019, China and the United States reached a consensus on the retrieval of audit working papers of companies listed in the United States audited by Hong Kong accounting firms and deposited in mainland China. In response to a reporter's question, the China Securities Regulatory Commission said that the two sides \"maintain a smooth cooperative relationship\".</p><p>Everything seemed thriving.</p><p>People didn't expect that just a year later,<b>New crises spew out like volcanic lava, accumulated for a long time</b>。</p><p><b>04</b></p><p><b>Era of new crisis</b></p><p><b>The plight and future of Didi, Byte, and Pinduoduo (2020-today)</b></p><p>July 1st, the 100th anniversary of the founding of the Party. In the early morning of the same day, Didi went public in the United States, raising US $4.4 billion.</p><p>This is the largest IPO of a Chinese company in the United States since 2014. There are no photos of ringing the bell, no announcement on official website, few media reports, and employees do not send friends.</p><p>On July 2nd, the China Cyber Security Review Office issued an announcement stating that in order to prevent national data security risks, safeguard national security and protect public interests, the \"Didi Chuxing\" will be reviewed in accordance with the National Security Law and the Cyber Security Law. During the review, \"Didi Chuxing\" stopped registering new users. Didi only appeared on Weibo's hot searches and media headlines when it went public.</p><p>On July 9th, all 25 apps owned by Didi Company were removed from the shelves.</p><p>Ray Dalio, founder of Bridgewater Fund, the world's largest hedge fund, once published a 20,000-word article \"Changing World Order\" on his LinkedIn homepage. He pointed out that the \"Populism Index\", which measures global conflicts, has now reached an all-time high.</p><p>\"We are heading into the abyss of polarization and populism.\" Dalio warned,<b>The polarization between the rich and the poor, political polarization and extreme nationalism we are facing today are very similar to those during World War II.</b></p><p><img src=\"https://static.tigerbbs.com/82a4ead3b25817350b19c65a0fb2c2ba\" tg-width=\"864\" tg-height=\"311\" referrerpolicy=\"no-referrer\"></p><p>▲ The polarization between the rich and the poor leads to extreme nationalism at this stage is similar to that of World War II</p><p>Data source: Bridgewater Fund</p><p>On March 25, 2021, the U.S. Securities and Exchange Commission (SEC) issued an announcement to adopt the final amendment to the Holding Foreign Companies Accountable Act (HFCAA). The bill stipulates,<b>Foreign issuers who fail to meet the U.S. Public Company Accounting Oversight Board (PCAOB) inspection requirements for accounting firms for three consecutive years will be delisted and delisted.</b></p><p>Chinese Foreign Ministry spokesperson Hua Chunying responded at the press conference: \"HFCAA is completely unreasonable political suppression of Chinese listed companies in the United States, seriously distorting the basic principles of market economy that the United States has always advertised, and depriving American investors and the American public of the opportunity to share the development dividends of Chinese enterprises.\"</p><p>According to official data from the US PCAOB, as of April 2020,<b>Among the foreign listed companies that do not accept PCAOB's audit papers, companies in mainland China and Hong Kong account for nearly 90%.</b></p><p>With Didi's silent listing, it successfully threw itself into the eye of the typhoon in the Sino-US stock market game storm.</p><p>On July 7th, WeChat official account, a subsidiary of People's Daily, published two reports commenting on the Didi incident: \"Didi is far from the level of employment to make the government work. If Didi dies later, the driver will change the platform to take orders, and we will change the platform to take a taxi, and our life will not be affected in any way.\"</p><p>On July 8, US Democratic Senator Chris Van Hollen called on the US Securities and Exchange Commission to thoroughly investigate Didi's listing.</p><p><b>The internet is in an eventful time. Some things look together and become intriguing.</b></p><p>Before the Didi incident, Huang Zheng stepped down as CEO of Pinduoduo in March this year; In May, Zhang Yiming stepped down as CEO of ByteDance.</p><p>Previously, many people regarded this as the result of Internet antitrust. But they missed a key clue:</p><p><b>Didi and Pinduoduo are both listed in the United States. As for ByteDance, Trump's ban on Tiktok says it all.</b></p><p><b>Tencent and Meituan, Pony Ma Huateng and Wang Xing, which are listed in Hong Kong, are still in the position of CEO.</b></p><p>Recently, all the Internet shocks around us are sending us a signal:</p><p><b>In the Sino-US stock market game, in the past, the situation that the United States actively attacked and China passively defended will become history. The determination and actions of China's supervision have begun to emerge.</b></p><p>Some Internet companies are still stuck in the habitual thinking of the first 20 years; Some Internet companies have sailed to new ports.</p><p><b>They are destined to usher in very different fates.</b></p><p><img src=\"https://static.tigerbbs.com/a76220741e2982f75e2d7176ce362e38\" tg-width=\"1080\" tg-height=\"608\" referrerpolicy=\"no-referrer\"></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/QItPs3pB6CJ5Dn89MQYL2A\">吴杨野餐会</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/1fc1f5e2fa377c378fa230c10e0849a2","relate_stocks":{"160636":"互联网","161025":"移动互联"},"source_url":"https://mp.weixin.qq.com/s/QItPs3pB6CJ5Dn89MQYL2A","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111811630","content_text":"1983年，刘钢从北京大学法学院毕业，被分配到司法部秘书处，负责为部长撰写日常报告。\n一年后，他感觉工作内容枯燥，想申请调职。有人劝告他，秘书身份可能会更容易得到提升。\n1985年，国家推行“第三梯队”干部改革。司法部挑选年轻干部到基层锻炼，刘钢被列入其中。他主动放弃了基层机关的岗位，选择做一名基层律师。\n锻炼期满，同事们纷纷回到司法部继续职业生涯，但刘钢没有回去。他选择留在律师行业。\n当时，中国律师行业刚刚兴起，一切尚在蒙昧期。刘钢的主要业务是讨债。\n从此，他过上了“讨债民工”的生活：两天两夜挤火车硬座，睡一块钱一晚的大通铺，狂奔追赶欠款人，躲避债务人的打手与围殴……\n转折点出现在1989年。司法部和英国律师协会联合启动一个律师培训项目。刘钢申请并通过考试后，被选派往英国伦敦的一家律师事务所接受实习培训。\n他想做当时在中国大热的知识产权。但英国律所的一位高级合伙人建议他：“我建议你了解一下资本市场。”刘钢问：“什么是资本市场？”\n“中国那么大的国家，早晚会有资本市场。”那位英国律所合伙人说。\n1990年，中国迎来属于自己的资本市场，上海交易所和深圳交易所先后开业。\n\n▲1990年代，股民在上海交易所门口排队\n（摄影 | 中新社 潘索菲）\n两年后，中国放开私人合伙制律师事务所限制。刘钢和两个朋友在建国门外租下一间办公室，创办起自己的律师事务所：通商律师事务所。\n2000年，刘钢得到职业生涯的一次关键机会。当时新浪正在冲击纳斯达克上市。如果成功，它将成为第一家在美国上市的中国互联网公司。\n新浪的上市主体注册在开曼群岛。但中国法律对外资进入互联网领域存在限制：禁止外资投资中国互联网，也禁止外国公司在中国开展互联网业务。\n为了绕过这些投资限制，刘钢帮助新浪设计了一套复杂的控制架构。他将外国投资者和中国公司通过一系列复杂的法律合同相连接，使海外上市实体在没有直接股权关系下，通过协议控制国内的运营实体。\n刘钢用一纸VIE架构，拉开中国互联网公司海外上市的大幕。\n2000年4月，新浪成功登陆美国纳斯达克。同年6月、7月，网易和搜狐相继完成纳斯达克上市。中国三大门户网站海外上市，刘钢均参与其中。这在律师行业非常罕见。\n此后20余年，几乎所有中国互联网公司海外上市，均采取“新浪模式”的VIE架构。截至2021年5月，中国共有248家公司在美国上市，总市值高达2.1万亿美元。其中互联网相关的信息技术公司数量最多，比例达四分之一以上。\n然而，VIE架构也成为今后20年中美两国股市博弈的支点。\n在刘钢的表述里，VIE架构“使境外投资公司在没有直接股权关系的情况下，控制国内公司的运营”。\n但在美国国会的表述中，VIE 架构则“保证了经济利益流向外国投资者，同时对业务的经营控制留在中国公司”。\n这种特殊架构，成为中概股的典型特征，也为中国互联网公司20年海外上市路埋下争议与危机的伏笔。\n08年全球金融危机后的十年海外上市史，是帮助我们理解中国互联网公司目前处境的关键。我将其分为四个阶段，分别为：\n\n01\n围猎中国公司\n第一轮海外上市与做空潮（2010—2013）\n2011年11月1日，周鸿祎半夜赶回公司，把网址站、浏览器、投资者关系、财务、法务、公关等相应一堆主管都叫了过来。\n当晚9点，做空机构香橼研究（Citron Research）赶在美国股市开市前，发出了针对奇虎360公司的第一份做空报告。1个小时后，报告送到周鸿祎手中。“Citron做空360时，我们觉得很惊讶。”他表示。\n当天，奇虎360的股票跌去约10%。\n7个月前，奇虎360登陆美国纽交所上市。和它一同登陆美国股市的，还有一大批中国公司。\n08年金融危机后，美国经济2009年起快速复苏，国际资本市场活跃。同一时期，中国互联网公司正在飞速扩张期，迫切需要资金。\n大批互联网公司奔赴美国寻求上市。从2010年到2012年，高德地图、奇虎360、优酷、土豆等互联网公司先后成功在美国上市，开启海外的中概股热潮。\n\n▲1970-2020年中国公司赴美上市数量变化\n数据来源：清科研究中心\n2010 年共计约 50 家中概股登陆美股市场，中国公司海外上市的数量突破峰值，也吸引了“市场秃鹫”做空机构们的目光。\n浑水公司（Muddy Waters）射出第一颗子弹。2010 年，浑水创始人卡森·布洛克（Carson Block）抛出一份30页的东方纸业做空报告，东方纸业股价大跌，浑水一战成名。\n随后，以浑水、香橼为代表的美国做空机构，相继把枪口瞄准了分众传媒、奇虎360、新东方等中概股。其中互联网公司成为被围猎的中概股重灾区。\n此轮做空机构围猎下，超过 40 家中国企业不得不停牌、退市。中概股集体陷入信任危机。\nVIE是美国机构做空中国公司的一个关键靶子。“中国互联网行业存在VIE结构。美国人认为你没有法律规定，就永远觉得心里没底。”周鸿祎说。\n2012年7月17日，新东方因为VIE架构调整，遭受美国证券交易委员会（SEC）调查。浑水随即发布一份长达90多页的做空报告，指出新东方VIE结构存在巨大隐患，缺乏控制力。\n48小时内，新东方股价跌去60%，股价创5年新低。\n新东方事件同时引发国际市场担忧VIE架构，中概股普遍大跌。携程、新浪等跌幅超过7%，当当网、奇虎360、网易、搜狐等跌幅超过4%。\n中概股做空潮爆发后，美国监管方进一步强势出击。2012年12月，SEC 对德勤、安永、毕马威、普华永道，以及德豪五大会计师事务所中国分部发起行政诉讼。\nSEC要求他们提交9家在美上市的中概股审计底稿，但五大会计师事务所拒绝了这一要求，他们不愿触犯中国法律。\n这一举动导致在美上市的中国企业陷入没有审计方的境地，迫使中国公司摘牌退市。\n中概股退市潮越演越烈。在美上市的中国公司由2010的240余家，减少到2012年的不足200家。\n\n▲ 2010-2012年美国上市中概股遭遇做空潮\n数据来源：国盛证券\n冲突频发，中美两国将审计跨境执法纳入战略经济对话。2013 年，中国证监会和财政部与美国上市公司会计监管委员会（PCAOB） 签订执法合作协议，正式开展审计跨境执法合作。\n但数据主权和保密问题仍是中美难以协调的矛盾。后续种种风波，也因此而起。\n02\n盛宴下的暗影\n阿里上市与中概股审查风暴（2014—2017）\n2014年9月，马云步入联合国总部。他此行的目的之一，是通过恒隆集团董事长陈启宗引荐，与联合国秘书长潘基文见面。\n他们两个人站在电梯口，等潘基文上来时，陈启宗对马云说了这样一番话：\n“我知道阿里到美国上市是被逼的，香港没有同股不同权，你是没办法。但是马云你要小心，美国人的手是伸的很长很长的。总有一天他会给你麻烦。”\n一个星期前，阿里巴巴9月19日在美国纽交所成功挂牌上市。狂欢充斥着整个华尔街。\n当晚，纽交所黑色大屏幕上，代表阿里巴巴开盘价的数字不断滚动，持续攀升——70……80……90……\n“开盘价92.7！”一个声音大喊。\n马云抬起头，兴奋地看了一眼屏幕上的数字。他拿起锤子，快速敲击着一个金色铜钟。包围着他的人群随即欢呼起来，闪光灯此起彼伏。\n经过2个多小时、12轮询价，阿里巴巴股票在当晚23点53分最终开盘。开盘价92.7美元，比起发行价68美元大涨36.32%。融资总金额高达341.25亿美元，创下全球历史上IPO融资最高纪录。阿里巴巴总市值达到2285亿美元，超过100多个国家的GDP。\n\n▲ 2014年阿里巴巴美国上市现场的马云\n多家美国券商和国际资本分享了这次资本盛宴。花旗、瑞士信贷、德意志银行、高盛、摩根大通、摩根士丹利等均位列其中。\n阿里巴巴登陆纽交所时，软银持股34.4%，为第一大股东；雅虎持股比例22.6%，居第二位。仅按阿里巴巴上市开盘价来算，软银和雅虎的持股市值已分别高达786.04亿美元和516.41亿美元，这还不算他们此前从阿里套现的部分。\n2014年是中国互联网公司赴美上市的又一波高峰。除了阿里，京东、微博、途牛、智联招聘等也先后登陆美国纽交所和纳斯达克，全年共有12家互联网公司在美完成上市。\n然而，就在阿里巴巴上市当月，美国国会中国经济与安全审查委员会（UCESRC）发布了一份名为《中国互联网公司在美国证券交易所的风险》的调查报告。\n报告用17页篇幅指出针对中国互联网公司上市的各项风险，直指VIE架构不值得信任。UCESRC宣称：“许多美国法律专家认为，根据中国法律，VIE 结构在技术上是非法的，并建议美国投资者不要进行此类投资。”\n同年双十一当晚，马云在杭州阿里总部接受20分钟的媒体采访，谈到支付宝上市时直接表态：“由于各种原因，阿里巴巴没有办法在A股上市，所以我们希望未来支付宝能够在中国A股上市。”\n显然，马云听懂了陈启宗的话。而要进一步理解这个表态，我们还需要把时间线拉回到三年前的支付宝拆分事件上。\n2011 年第一季度，中国央行要求申请支付牌照的支付企业对外资的持股比例作出声明。5月，马云变更支付宝的所有权，终止了阿里巴巴集团对浙江阿里巴巴的控制协议。浙江阿里巴巴为支付宝的全资控股公司。这意味着，支付宝从外资控股变为了一家纯内资公司。\n\n▲ 支付宝分拆股权变更\n但马云此轮股权变更，此前并未跟董事会达成协议。木已成舟后，马云对雅虎和软银两位大股东给出了相应补偿。\n2011 年 7 月 29 日，阿里巴巴集团、雅虎和软银就支付宝股权转让事件正式签署协议。支付宝控股公司承诺上市时给以阿里巴巴集团一次性的现金回报。回报额为支付宝上市时 IPO 价总市值的 37.5%，不低于 20 亿美元且不超过 60 亿美元。\n马云为此背上“不守诚信”，“打击国外投资者对中概股VIE信心”的骂名。他罕见地主动接受国内媒体大篇幅独家专访，出面解释一切都是为了支付宝合规获取支付牌照。\n“我说，兄弟，你如果搞个小合资企业，没关系。你搞的是支付宝，是金融，越来越触及到敏感地带。金融是数据，一定会出问题的。杨致远不相信，但后来他们相信了。”马云在接受《时尚先生》专访时说。\n但当时，大多数人认为马云是拿政府做挡箭牌，对此抱以讥笑嘲讽居多。马云愤而退出微博。\n退出前，马云发出了最后一条微博。没有文字，只有标点：问号，叹号，以及一串省略号。\n支付宝分拆三年后，2014年蚂蚁金服成立，从支付领域进军普惠金融。\n六年后，就在蚂蚁金服上市前夕，马云2020年10月底在外滩金融峰会做出了那篇著名的演讲。11月3号，上交所和港交所先后发出紧急通知，暂缓蚂蚁金服科创板和H股上市。\n这时，大家才恍然大悟。九年前，马云没有高估中国政府的决心。\n03\n洪流入海\nA股、H股新经济改革（2018-2019）\n2018年两会期间，时任中国证监会主席刘士余谈到中国新经济公司海外上市时称，限于当时的特定制度环境和市场容量，一些主体在中国的新经济企业选择到境外上市，这是好事。但国内没有享受到它们增长的成果，也是一个遗憾。\n“进入新时代，这个遗憾就不能再发生了。”刘士余说。\n“站在风口上，猪都会飞。”说出这句话的雷军，再一次把小米推上时代风口。他要让小米成为第一个内地A股和香港H股同步上市的互联网公司。\n2018年5月3日，雷军手握两款小米手机，亲自飞往香港拜访香港首富李嘉诚。就在同一天，小米向港交所递交上市招股书。李嘉诚爱将霍建宁向媒体证实，李嘉诚斥资2.3亿港元认购小米股票。除了李嘉诚，国内两大互联网巨头马云、马化腾也一同认购小米股票。\n\n▲ 雷军会见李嘉诚\n在内地，小米更是创下12天“闪电”上会记录。同年6月7日，小米向中国证监会申请发行CDR（存托凭证）上市，同天被受理。14日，小米更新招股说明书，当晚收到证监会下发的反馈意见，定于19日上会审核。\n彼时，中国证监会和港交所正在争相推进新经济上市改革。\n2017年12月，港交所发布《有关建议设立创新板的框架咨询文件》的市场《咨询总结》，宣布接纳采用不同投票权架构的新经济公司赴港上市。\n3个月后，国务院办公厅转发证监会《关于开展创新企业境内发行股票或存托凭证试点的若干意见》，允许在境外上市的新经济企业在内地A股市场发行CDR（存托凭证），推动包括互联网在内的新经济企业回归A股上市。\n然而，小米突然被叫停在内地CDR上市。2018年6月14日，证监会针对小米发出84问。五天后，小米宣布，推迟召开发审委会议审核公司的CDR发行申请。先在香港上市之后，再择机通过发行CDR的方式在境内上市。\n香港上市也一波三折。当年7月9日，小米公司在港交所完成上市。上市当天，小米股票被纳入恒指综合成分股，按照正常情况将进入港股通，允许中国内地投资者直接购买小米股票。\n不料沪深交易所在7月14日突然发出通知，以“内地投资者不熟识”为由，暂拒同股不同权公司、外国公司股票及合订证券纳入港股通范围。小米公司被拒之门外。\n两天后，港交所CEO李小加紧急从香港飞往北京，与中国证监会相关负责人碰面谈判。“一直几个星期、几个月来我们都在跟内地证监会沟通，最好这次都包进去，按正常沪港通、深港通程序往前走。但是内地交易所可能有些不同意见。”李小加说。\n这次争端，关系着中国互联网公司上市的未来走向。通往新时代的大门能否打开？\n中国互联网公司长期只有赴美上市一个选择，皆因内地A股和香港H股过去不接受同股不同权架构。即使港交所锐意改革，流动性差仍将成为互联网公司赴港上市的关键掣肘。\n只有港股通接纳新经济公司，来自中国内地的巨量资金得以南下，东方世界的大门才能真正面向互联网公司开启。\n风波是暂时的，方向是确定的。\n2018年，港交所重新摘下全球交易所IPO排行榜第一名桂冠，全年IPO募资额高达2778.5亿港元，创下2010年以来新高。\n全年共有28家新经济公司及生物科技公司赴港上市。其中小米和美团以426.1亿港元和331.4亿港元，分列香港上市募资额年度第二、第三大公司。\n2019年10月，上交所与深交所发布公告，小米和美团纳入港股通。\n乘此势头，包括阿里、网易、京东等在内的中国互联网公司纷纷从海外回归，争相赴港二次上市。到2021年，香港市场已经集齐腾讯、阿里、美团、快手、京东、小米、百度、网易八大互联网巨头。\n\n数据来源：香港交易所\n同一阶段，中国互联网公司赴美上市迎来第三次高峰。2018年和2019 年分别有38 家和32 家中国公司赴美国上市，其中大多以互联网新经济企业为主，包括爱奇艺、斗鱼、网易有道等等。\n2019年10月，中美双方就香港会计师事务所审计的、存放在中国内地的在美上市公司审计工作底稿调取事宜达成共识。中国证监会答记者问时表示，双方“保持着畅通的合作关系”。\n一切都显得欣欣向荣。\n人们没有料到，就在一年之后，新的危机如火山熔岩般，积蓄已久，喷涌而出。\n04\n新危机时代\n滴滴、字节、拼多多们的困境与未来（2020-今天）\n7月1日，建党100周年大庆。当天凌晨，滴滴赴美上市，融资44亿美元。\n这场自2014年来中国公司在美国最大的IPO，没有敲钟照片，官网没有公告，媒体少有报道，员工不发朋友圈。\n7月2号，中国网络安全审查办公室发布公告称，为防范国家数据安全风险，维护国家安全，保障公共利益，依据《国家安全法》《网络安全法》对“滴滴出行”实施网络安全审查。审查期间“滴滴出行”停止新用户注册。滴滴上市，才出现在微博热搜和媒体头条上。\n7月9日，滴滴公司旗下25款app全体下架。\n全球最大的对冲基金桥水基金创始人瑞·达利欧（Ray Dalio）曾在其领英主页上发布2万字长文《改变中的世界秩序》。他指出，衡量全球冲突的“民粹主义指数”（Populism Index）如今已经达到历史高点。\n“我们正在走向两极分化和民粹主义的深渊。”达利欧警告，今天我们面对的贫富分化、政治两极化和极端民族主义，和二战时期极为相似。\n\n▲ 贫富分化导致极端民族主义，现阶段与二战时期类似\n数据来源：桥水基金\n2021年3月25日，美国证券交易委员会（SEC）发布公告，通过《外国公司问责法案》（HFCAA）最终修正案。法案规定，外国发行人连续三年不能满足美国公众公司会计监督委员会（PCAOB）对会计师事务所检查要求的，将被摘牌退市。\n中国外交部发言人华春莹在记者会上回应称：“HFCAA完全是对中国在美上市企业的无理政治打压，严重扭曲美国自己一向标榜的市场经济基本准则，也剥夺了美国投资者和美国公众分享中国企业发展红利的机会。”\n美国PCAOB官方数据显示，截止到2020年4月，不接受PCAOB检查审计底稿的外国上市企业中，中国内地和香港的企业占近90%。\n滴滴用静默上市，成功把自己扔进了中美股市博弈风暴中的台风眼。\n7月7日，人民日报旗下“踏浪青年”公众号，连发两篇报道评论滴滴事件：“滴滴远没有到挟就业以令政府的程度。如果之后滴滴死了，司机换一个平台接单，我们换一个平台打车，生活不会受到任何影响。”\n7月8日，美国民主党参议员Chris Van Hollen呼吁美国证交会彻底调查滴滴上市事件。\n互联网正值多事之秋。一些事情连起来看，变得耐人寻味。\n滴滴事件之前，今年3月，黄峥卸任拼多多CEO；5月，张一鸣卸任字节跳动CEO。\n此前不少人将这看做互联网反垄断的结果。但他们忽略了一条关键线索：\n滴滴、拼多多均在美国上市。至于字节跳动，特朗普对Tiktok的禁令就已经说明了一切。\n而在香港上市的腾讯与美团，马化腾和王兴至今安坐CEO之位。\n最近所有在我们身边接连发生的互联网震动，都在向我们传递出一个信号：\n中美股市博弈中，过去美国积极进攻，中国被动防守的局面将成为历史。中国监管的决心和行动，已经初露端倪。\n有的互联网公司，还停留在前20年的惯性思维里；有的互联网公司已经驶向新港口。\n他们注定迎来截然不同的命运。","news_type":1,"symbols_score_info":{"160636":0.9,"161025":0.9}},"isVote":1,"tweetType":1,"viewCount":232,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803872920,"gmtCreate":1627434057060,"gmtModify":1703489821472,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Omg","listText":"Omg","text":"Omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/803872920","repostId":"1121684255","repostType":4,"repost":{"id":"1121684255","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627424128,"share":"https://ttm.financial/m/news/1121684255?lang=en_US&edition=fundamental","pubTime":"2021-07-28 06:15","market":"us","language":"zh","title":"Apple's earnings report once again surprised four, all indicators exceeded expectations, and the stock price fell back after hours","url":"https://stock-news.laohu8.com/highlight/detail?id=1121684255","media":"老虎资讯综合","summary":"苹果于周二美股盘后发布2021财年三季报（即2021自然年第二季度业绩），季度成绩惊艳四座，各项数据均超过市场预期。营收创历史新高，净利润同比接近翻倍，iPhone销售同比激增近50%，服务收入再创历","content":"<p>Apple released its third quarter report for fiscal year 2021 (that is, the second quarter results for the natural year of 2021) after the U.S. stock market closed on Tuesday. The quarterly results were amazing, and all data exceeded market expectations. Revenue hit a record high, net profit nearly doubled year-on-year, iPhone sales surged nearly 50% year-on-year, and service revenue hit a record high again. But Apple CEO Cook said in a conference call: The chip shortage has greatly affected the sales of Mac and iPad, otherwise this quarter would be better. In addition, tight chip supply and high transportation costs will put pressure on subsequent performance.</p><p>Apple's stock price fell back from a high level, closing down 1.5% on Tuesday at US $146.77. After hours, the stock price turned from rising to falling, falling 1.48% as of press time. The company's market value still exceeds US $2.4 trillion, ranking first in the US market value.<img src=\"https://static.tigerbbs.com/b1c7358d4f1168881c8071a7e50cd849\" tg-width=\"1542\" tg-height=\"1438\" referrerpolicy=\"no-referrer\"><a href=\"https://laohu8.com/RN?name=RNLive&rndata={\"liveId\":\"16272656629834\"}\" target=\"_blank\"><b>Apple FY2021Q3 results conference call</b></a><b></b></p><p>Details of fiscal third quarter results:</p><p><ul><li>Total revenue was US $81.4 billion, a year-on-year increase of 36%, far exceeding market expectations of US $73.8 billion, creating the best third-quarter revenue in the company's history</li><li>Net profit was US $21.744 billion, a year-on-year increase of 93%, and diluted earnings per share (EPS) was US $1.30, doubling year-on-year, which was also higher than market expectations of US $1.01.</li><li>Among them, hardware product revenue was US $63.95 billion, higher than market expectations of US $58.18 billion; Revenue from the service business was US $17.49 billion, a record high for two consecutive quarters, a year-on-year increase of 33%<b>，</b>It was higher than analysts' expectations of $16.32 billion and higher than the growth rate of 26.7% in the previous fiscal quarter;</li><li>Quarterly gross profit margin was 43.3%, which was also higher than the expected 41.9%; Quarterly operating profit was $24.126 billion, up from $13.091 billion in the same period last year.</li></ul><b>In terms of product lines, Apple has achieved double-digit percentage year-on-year revenue growth in all product categories for three consecutive quarters, while the iPhone is not weak in the off-season;</b><img src=\"https://static.tigerbbs.com/4645adcd3f7499969d904dd8973cb926\" tg-width=\"1026\" tg-height=\"318\" referrerpolicy=\"no-referrer\"></p><p><ul><li>iPhone revenue in the quarter was US $39.57 billion, a year-on-year increase of 49.78%, exceeding market expectations of US $34.5 billion;</li><li>iPad revenue in the quarter was US $7.37 billion, a year-on-year increase of 12%, higher than market expectations of US $7.13 billion.</li><li>Mac revenue in the quarter was US $8.24 billion, a year-on-year increase of 16%, higher than market expectations of US $8 billion, but worse than the record high of US $9.1 billion in the first quarter.</li><li>Revenue from wearable devices, household goods and peripheral products in the quarter was US $8.78 billion, a year-on-year increase of 36%, higher than the expected US $7.6 billion.</li></ul><img src=\"https://static.tigerbbs.com/7bb1355a6d1dba7fdb82e2f1080709ed\" tg-width=\"826\" tg-height=\"600\" referrerpolicy=\"no-referrer\"></p><p><ul><li>The net revenue of the much-watched service business was US $17.486 billion, compared with US $13.156 billion in the same period last year, a year-on-year increase of 33%. This growth rate was higher than the 26.7% increase in the previous quarter.</li></ul><img src=\"https://static.tigerbbs.com/bf345163556353fb6796cb26a428fc67\" tg-width=\"500\" tg-height=\"291\" referrerpolicy=\"no-referrer\">In terms of regions, Apple achieved double-digit percentage growth in all regions in the same third fiscal quarter, and its Greater China region performed strongly, with a year-on-year increase of 58%:</p><p><ul><li>Net revenue from the Americas market was US $35.870 billion, compared with US $27.018 billion in the same period last year;</li><li>Net revenue from the European market was US $18.943 billion, compared with US $14.173 billion in the same period last year;</li><li>Net revenue in Greater China was US $14.762 billion, compared with US $9.329 billion in the same period last year, a year-on-year increase of 58%;</li><li>Net revenue in Japan was US $6.464 billion, compared with US $4.966 billion in the same period last year;</li><li>Net revenue in the rest of Asia-Pacific was US $5.395 billion, compared with US $4.199 billion in the same period last year.<img src=\"https://static.tigerbbs.com/ce16bed953b733de1347a9e299d82745\" tg-width=\"1020\" tg-height=\"332\" referrerpolicy=\"no-referrer\"></li></ul>In addition, Apple's board of directors announced a cash Dividend of $0.22 per share. Apple spent $29 billion on shareholder returns in the quarter, the statement showed. CFO Mestri revealed that the company has repurchased nearly $450 billion in shares in recent years.</p><p>It is worth noting that Apple did not include performance guidance for the next quarter in its financial report. It is the sixth consecutive quarter since the epidemic that it has not issued guidance. The company expects revenue in the next fiscal quarter to remain a \"very strong double-digit percentage year-on-year growth rate.\", but may be slower than the third fiscal quarter. CFO Mestri expects iPhone and iPad supply to be constrained and growth to slow in the next quarter.</p><p>Cook said: Apple can do better this quarter if it can solve the problems related to the chip shortage, which has greatly affected Mac and iPad sales. Tight chip supplies could affect its iPhone and iPad sales in September, although the chips in short supply are \"legacy nodes\" of older kinds of chips, not the processors that power Apple devices. Cook also said in a conference call with analysts that the company believes freight costs are high.</p><p>When explaining Apple's next growth engine-service revenue, Cook revealed that sub-businesses such as music, video, cloud services, advertising and payments have all hit new highs, \"showing that our long-term investment in service strategy is succeeding.\" Apple currently has 700 million paid subscribers, 150 million more than the same period last year, but this data includes the number of people who subscribe to an app through its app store.</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>Apple's earnings report once again surprised four, all indicators exceeded expectations, and the stock price fell back after hours</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\">\nApple's earnings report once again surprised four, all indicators exceeded expectations, and the stock price fell back after hours\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-07-28 06:15</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Apple released its third quarter report for fiscal year 2021 (that is, the second quarter results for the natural year of 2021) after the U.S. stock market closed on Tuesday. The quarterly results were amazing, and all data exceeded market expectations. Revenue hit a record high, net profit nearly doubled year-on-year, iPhone sales surged nearly 50% year-on-year, and service revenue hit a record high again. But Apple CEO Cook said in a conference call: The chip shortage has greatly affected the sales of Mac and iPad, otherwise this quarter would be better. In addition, tight chip supply and high transportation costs will put pressure on subsequent performance.</p><p>Apple's stock price fell back from a high level, closing down 1.5% on Tuesday at US $146.77. After hours, the stock price turned from rising to falling, falling 1.48% as of press time. The company's market value still exceeds US $2.4 trillion, ranking first in the US market value.<img src=\"https://static.tigerbbs.com/b1c7358d4f1168881c8071a7e50cd849\" tg-width=\"1542\" tg-height=\"1438\" referrerpolicy=\"no-referrer\"><a href=\"https://laohu8.com/RN?name=RNLive&rndata={\"liveId\":\"16272656629834\"}\" target=\"_blank\"><b>Apple FY2021Q3 results conference call</b></a><b></b></p><p>Details of fiscal third quarter results:</p><p><ul><li>Total revenue was US $81.4 billion, a year-on-year increase of 36%, far exceeding market expectations of US $73.8 billion, creating the best third-quarter revenue in the company's history</li><li>Net profit was US $21.744 billion, a year-on-year increase of 93%, and diluted earnings per share (EPS) was US $1.30, doubling year-on-year, which was also higher than market expectations of US $1.01.</li><li>Among them, hardware product revenue was US $63.95 billion, higher than market expectations of US $58.18 billion; Revenue from the service business was US $17.49 billion, a record high for two consecutive quarters, a year-on-year increase of 33%<b>，</b>It was higher than analysts' expectations of $16.32 billion and higher than the growth rate of 26.7% in the previous fiscal quarter;</li><li>Quarterly gross profit margin was 43.3%, which was also higher than the expected 41.9%; Quarterly operating profit was $24.126 billion, up from $13.091 billion in the same period last year.</li></ul><b>In terms of product lines, Apple has achieved double-digit percentage year-on-year revenue growth in all product categories for three consecutive quarters, while the iPhone is not weak in the off-season;</b><img src=\"https://static.tigerbbs.com/4645adcd3f7499969d904dd8973cb926\" tg-width=\"1026\" tg-height=\"318\" referrerpolicy=\"no-referrer\"></p><p><ul><li>iPhone revenue in the quarter was US $39.57 billion, a year-on-year increase of 49.78%, exceeding market expectations of US $34.5 billion;</li><li>iPad revenue in the quarter was US $7.37 billion, a year-on-year increase of 12%, higher than market expectations of US $7.13 billion.</li><li>Mac revenue in the quarter was US $8.24 billion, a year-on-year increase of 16%, higher than market expectations of US $8 billion, but worse than the record high of US $9.1 billion in the first quarter.</li><li>Revenue from wearable devices, household goods and peripheral products in the quarter was US $8.78 billion, a year-on-year increase of 36%, higher than the expected US $7.6 billion.</li></ul><img src=\"https://static.tigerbbs.com/7bb1355a6d1dba7fdb82e2f1080709ed\" tg-width=\"826\" tg-height=\"600\" referrerpolicy=\"no-referrer\"></p><p><ul><li>The net revenue of the much-watched service business was US $17.486 billion, compared with US $13.156 billion in the same period last year, a year-on-year increase of 33%. This growth rate was higher than the 26.7% increase in the previous quarter.</li></ul><img src=\"https://static.tigerbbs.com/bf345163556353fb6796cb26a428fc67\" tg-width=\"500\" tg-height=\"291\" referrerpolicy=\"no-referrer\">In terms of regions, Apple achieved double-digit percentage growth in all regions in the same third fiscal quarter, and its Greater China region performed strongly, with a year-on-year increase of 58%:</p><p><ul><li>Net revenue from the Americas market was US $35.870 billion, compared with US $27.018 billion in the same period last year;</li><li>Net revenue from the European market was US $18.943 billion, compared with US $14.173 billion in the same period last year;</li><li>Net revenue in Greater China was US $14.762 billion, compared with US $9.329 billion in the same period last year, a year-on-year increase of 58%;</li><li>Net revenue in Japan was US $6.464 billion, compared with US $4.966 billion in the same period last year;</li><li>Net revenue in the rest of Asia-Pacific was US $5.395 billion, compared with US $4.199 billion in the same period last year.<img src=\"https://static.tigerbbs.com/ce16bed953b733de1347a9e299d82745\" tg-width=\"1020\" tg-height=\"332\" referrerpolicy=\"no-referrer\"></li></ul>In addition, Apple's board of directors announced a cash Dividend of $0.22 per share. Apple spent $29 billion on shareholder returns in the quarter, the statement showed. CFO Mestri revealed that the company has repurchased nearly $450 billion in shares in recent years.</p><p>It is worth noting that Apple did not include performance guidance for the next quarter in its financial report. It is the sixth consecutive quarter since the epidemic that it has not issued guidance. The company expects revenue in the next fiscal quarter to remain a \"very strong double-digit percentage year-on-year growth rate.\", but may be slower than the third fiscal quarter. CFO Mestri expects iPhone and iPad supply to be constrained and growth to slow in the next quarter.</p><p>Cook said: Apple can do better this quarter if it can solve the problems related to the chip shortage, which has greatly affected Mac and iPad sales. Tight chip supplies could affect its iPhone and iPad sales in September, although the chips in short supply are \"legacy nodes\" of older kinds of chips, not the processors that power Apple devices. Cook also said in a conference call with analysts that the company believes freight costs are high.</p><p>When explaining Apple's next growth engine-service revenue, Cook revealed that sub-businesses such as music, video, cloud services, advertising and payments have all hit new highs, \"showing that our long-term investment in service strategy is succeeding.\" Apple currently has 700 million paid subscribers, 150 million more than the same period last year, but this data includes the number of people who subscribe to an app through its app store.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/052d0d3a6389985cf72883e9c3047ae4","relate_stocks":{"AAPL":"苹果"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1121684255","content_text":"苹果于周二美股盘后发布2021财年三季报（即2021自然年第二季度业绩），季度成绩惊艳四座，各项数据均超过市场预期。营收创历史新高，净利润同比接近翻倍，iPhone销售同比激增近50%，服务收入再创历史新高。但苹果CEO库克却在电话会中称：芯片短缺问题很大程度影响了Mac和iPad的销售，否则本季度会更好。此外，芯片供应紧张和运输费用过高会给后续业绩造成压力。\n苹果股价高位回落，周二收跌1.5%，报146.77美元，盘后股价由涨转跌，截止发稿跌1.48%，公司市值仍超2.4万亿美元，稳居美市值之冠。苹果FY2021Q3业绩电话会\n第三财季业绩详情：\n\n总营收814亿美元，同比增36%，远超市场预期的738亿美元，创公司史上最佳第三财季营收\n净利润217.44亿美元，同比增长93%，摊薄后每股收益（EPS）1.30美元，同比翻倍，也高于市场预期的1.01美元。\n其中，硬件产品营收639.5亿美元，高于市场预期的581.8亿美元；来自服务业务营收174.9亿美元，连续两个季度历史新高，同比增33%，高于分析师预期的163.2亿美元，也高于上一财季的增速26.7%；\n季度毛利率为43.3%，同样高于预期的41.9%；季度运营利润为241.26亿美元，高于去年同期的130.91亿美元。\n\n分产品线来看，苹果连续三个季度在所有产品类别上均实现了双位数百分比的同比营收涨幅，而iPhone淡季不淡；\n\n当季iPhone营收395.7亿美元，同比劲增49.78%，超过市场预期的345亿美元；\n当季iPad营收73.7亿美元，同比增12%，高于市场预期的71.3亿美元。\n当季Mac营收82.4亿美元，同比增16%，高于市场预期的80亿美元，但逊于一季度91亿美元所创的历史最高。\n当季可穿戴设备、居家用品及周边产品营收87.8亿美元，同比增36%，高于预期的76亿美元。\n\n\n\n备受关注的服务业务净营收为174.86亿美元，相比之下去年同期为131.56亿美元，同比增长33%，这个一增速高于上一季度26.7%增幅。\n\n分地区看，同样第三财季苹果在所有地区实现了双位数百分比的增幅，其大中华地区表现强劲，同比增长58%：\n\n来自美洲市场的净营收为358.70亿美元，相比之下去年同期为270.18亿美元；\n来自欧洲市场净营收为189.43亿美元，相比之下去年同期为141.73亿美元；\n大中华区净营收为147.62亿美元，相比之下去年同期为93.29亿美元，同比增幅达58%；\n日本区净营收为64.64亿美元，相比之下去年同期为49.66亿美元；\n亚太其他地区净营收为53.95亿美元，相比之下去年同期为41.99亿美元。\n\n此外，苹果董事会宣布派发每股0.22美元的现金股息。声明显示，苹果在该季度股东回报上花费了290亿美元。CFO梅斯特里透露，该公司近年来回购了近4500亿美元的股票。\n值得注意的是，苹果在财报中并没有下季度业绩指引，是疫情以来连续第六个季度没有发布指引，公司预计下一财季营收仍是“非常强劲的两位数百分比同比增速”，但可能会慢于第三财季。CFO梅斯特里预计下一个季度iPhone和iPad的供应将会受限，增长将放缓。\n库克称：如果能解决芯片短缺有关的问题，苹果本季度可以做得更好，芯片短缺极大程度影响了Mac和iPad的销售。芯片供应紧张可能会影响其9月份的iPhone和iPad销售，尽管短缺的芯片是旧种类芯片的 \"遗留节点\"，而不是为苹果设备提供动力的处理器。库克在与分析师的电话会议上还表示，该公司认为货运成本很高。\n在解释苹果的下一个增长引擎——服务收入时，库克透露，音乐、视频、云服务、广告和支付等分项业务均创新高，“显示我们对服务战略的长期投资正在取得成功”。苹果目前拥有7亿付费订阅用户，比去年同期多出1.5 亿，不过该数据包括通过其应用商店订阅某款app的人数。","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":1789,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172781915,"gmtCreate":1626994517937,"gmtModify":1703481891593,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Omg","listText":"Omg","text":"Omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/172781915","repostId":"1178083534","repostType":4,"repost":{"id":"1178083534","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626991424,"share":"https://ttm.financial/m/news/1178083534?lang=en_US&edition=fundamental","pubTime":"2021-07-23 06:03","market":"us","language":"zh","title":"Intel's second-quarter financial report exceeded expectations, rose more than 3% after hours and then turned down","url":"https://stock-news.laohu8.com/highlight/detail?id=1178083534","media":"老虎资讯综合","summary":"美东时间7月22日周四美股盘后，按收入计算的美国最大芯片制造商英特尔发布了2021财年二季度财报。尽管二季度财报和提供的下季度及全年指引均利好，英特尔盘后一度涨超3%，随后转跌并跌超2%。这可能是由于","content":"<p>After the U.S. stock market closed on Thursday, July 22, Eastern Time, the largest U.S. chip manufacturer by revenue<a href=\"https://laohu8.com/S/INTC\">Intel</a>Released the financial report for the second quarter of fiscal year 2021. Despite the positive second-quarter financial report and the guidance provided for the next quarter and full-year, Intel once rose by more than 3% after hours, and then turned down and fell by more than 2%. This may be due to the fact that the closely watched data center revenue is still down 9% year-on-year, and the expected third-quarter revenue is slightly lower than expected.</p><p>Some analysts also said that the adjusted non-GAAP financial report data was \"just in line with market expectations\" and did not provide too many surprises to boost the stock price. After all, Intel is still stuck in the \"quagmire\" of production bottlenecks and delayed release of next-generation advanced process products.</p><p>Intel closed down 0.5% on Thursday at less than $56, falling from a one-week high.<img src=\"https://static.tigerbbs.com/1e44b1f5b13edeceec07010bb6d667de\" tg-width=\"692\" tg-height=\"529\" referrerpolicy=\"no-referrer\"><b>Both revenue and profit in the second quarter increased year-on-year, and the market originally expected a decline, raising the full-year revenue guidance to year-on-year growth</b></p><p>The financial report shows that Intel's adjusted quarterly revenue was US $18.5 billion, a year-on-year increase of 2%, and US $700 million more than the company's previously issued official guidance. This is equivalent to Intel's revenue exceeding expectations for ten consecutive quarters. The market once thought that adjusted revenue was US $17.8 billion, representing a year-on-year decline of nearly 2%.</p><p>The unadjusted quarterly revenue was US $19.6 billion, a slight decrease of 0.6% year-on-year. Some commentators said that Intel sold its flash memory manufacturing business to SK Hynix last year, and this part of the revenue is usually stripped from the financial report analysis.</p><p>Adjusted quarterly EPS of $1.28 per share also exceeded the company's official guidance by $0.23 and increased 4% year-over-year. The market had expected $1.07, representing a 13% decline from $1.23 a year earlier.<img src=\"https://static.tigerbbs.com/54a380ec9f26ad798d138d536762dad0\" tg-width=\"640\" tg-height=\"275\" referrerpolicy=\"no-referrer\">Intel said that in addition to revenue and EPS exceeding official guidance, gross profit margin was also better than previously expected to 59.2%, a year-on-year increase of nearly 3%, and recorded a record second-quarter personal computer PC business revenue and<a href=\"https://laohu8.com/S/MBLY\">Mobileye</a>Division revenue.</p><p>The company also raised its full-year earnings guidance for fiscal year 2021, expecting revenue under GAAP to be US $77.6 billion, compared with the company's previous estimate of US $77 billion.<b>Non-GAAP revenue is expected to be $73.5 billion, the company previously expected $72.5 billion, and analysts expected $73.1 billion, which also represents year-on-year growth</b>。 It expects EPS under GAAP to be $4.09 per share and non-GAAP EPS to be $4.80 per share. The latter company previously expected $4.60 and analysts expected $4.62.<img src=\"https://static.tigerbbs.com/188db5648a869808eaffe51754e2dcda\" tg-width=\"500\" tg-height=\"266\" referrerpolicy=\"no-referrer\"></p><p>At the same time, the company expects adjusted EPS in the third quarter to be earnings per share of US $1.10, which is also higher than analysts' expectations of US $1.08; Revenue in the third quarter is expected to be US $19.1 billion, and adjusted revenue will be approximately US $18.2 billion, slightly lower than analysts' expectations of US $18.27 billion.</p><p>Pat Gelsinger, CEO of Intel, who pushed for the development of chip foundry manufacturing business after taking up his new post in February this year, said that the second-quarter results showed that the company's momentum was gaining and its execution was improving. The digitalization process in various industries continues to accelerate, creating huge growth opportunities for Intel and its customers in core and emerging business areas. \"I believe this is the beginning of a ten-year growth period for the entire semiconductor industry.\"</p><p><b>PC and Mobileye businesses hit the highest revenue in the second quarter, but data center revenue continues to decline year-on-year</b></p><p><b>In terms of business,</b>Intel's Client Computing Division (CCG), which includes personal computer chips, was US $10.1 billion, a year-on-year increase of 6%, a record high in the second quarter and higher than market expectations of about US $10 billion. Last year, it increased by 8% year-on-year and hit a record high, significantly benefiting from the demand for home office and remote classes under the COVID-19 pandemic.</p><p>Data Center Division (DCG), which focuses on providing chips for cloud computing and server manufacturers, had revenue of US $6.5 billion, a year-on-year decrease of 9% and a month-on-month increase of 16%, better than market expectations of approximately US $5.9 billion or a year-on-year decrease of 18%. Last year, it increased by 11% year-on-year to a new high.</p><p>The analysis pointed out that from competitors<a href=\"https://laohu8.com/S/AMD\">AMD</a>And<a href=\"https://laohu8.com/S/NVDA\">Nvidia</a>Against the backdrop of a surge in pressure and worrying delays in the release of advanced process chip products,<b>Investors are closely watching whether Intel's data center outlook and market share are dragged down.</b></p><p>Currently, Nvidia, which specializes in designing graphics processing chip GPUs, is entering data center CPUs. Last year, it surpassed Intel to become the most valuable chip manufacturer in the United States. In April this year, when Intel disclosed that data center revenue in the first quarter plummeted by 20% year-on-year and AMD's similar business doubled, Intel fell by more than 9% after hours, and its stock price has fallen by 14% since the release of the first quarter report.</p><p>In the Internet of Things business unit, the Internet of Things Group (IOTG) 's revenue in the second quarter was US $984 million, a year-on-year surge of 47%, and the market expected it to be US $9; Mobileye, an artificial intelligence-based autonomous driving business, doubled its quarterly revenue and surged 124%, hitting a record high of US $327 million in the second quarter, but it was lower than the US $360 million expected by some analysts. Mobileye's revenue increased by 10% year-on-year to a new high last year.</p><p>In addition, the revenue of the Non-Volatile Storage Solutions Division (NSG) in the second quarter was US $1.1 billion, a year-on-year decrease of 34%, but higher than analysts' expectations of US $690 million. Last year, it increased by 23% year-on-year to a record high. The revenue of the Programmable Solutions Division (PSG) was US $486 million, a year-on-year decrease of 3%.</p><p><img src=\"https://static.tigerbbs.com/4c296d4a684062b9b88a5635caee35b7\" tg-width=\"640\" tg-height=\"240\" referrerpolicy=\"no-referrer\"></p><p>Intel said,<b>Overall second-quarter revenue exceeded guidance provided by the company in April, mainly driven by continued strength in the PC CCG segment and strong recovery in the enterprise segments in the Internet of Things (IOTG) and Data Center segments (DCG)</b>, PC platform sales increased by 33% year-on-year in the quarter, and Mobileye won 10 additional design bids to provide full life cycle technical support for more devices.</p><p><b>Intel stock performs far underperforming competitors as market focuses on expansion and transformation plans under new CEO</b></p><p>In terms of stock price performance, if today's after-hours downward trend continues, it is equivalent to Intel's three after-hours declines after the release of financial reports in the past four quarters. Its stock price fell by more than 12% in the second quarter of this year. During the same period, the Dow Jones Industrial Average, which accommodates it as one of the constituent stocks, rose by 4.6%, the S&P 500 Index rose by more than 8%, the Nasdaq Index, which is mostly technology stocks, rose by 9.5%, and the Philadelphia Semiconductor Index rose by more than 7%.</p><p>Statistics show that as the epidemic has pushed up the demand for chips in cars, laptops and game consoles, the stock prices of most chip manufacturers have soared in the past 12 months. Intel has fallen by more than 9% instead of rising, and competitor Nvidia has risen by more than 80%., AMD rose more than 50%. This is mainly due to Wall Street's short-term bearish view of Intel, which has hurt its stock price due to production mistakes and losing market share to competitors.</p><p>Looking ahead, the market will pay close attention to the transformation strategy given by Intel's management, and CEO Gelsinger is expected to announce more details later this month.</p><p>On the one hand, data center revenue continues to decline year-on-year, which means that Intel continues to lose market share and even its technological leadership. At the same time, the chip shortage will also drag down its sales. Gelsinger once believed that the shortage would last beyond 2022.<b>Company executives said on the earnings conference call: \"The chip shortage problem is expected to bottom out in the second half of this year, but it will take 1-2 years for the chip industry to fully restore production capacity.\"</b></p><p>Earlier this year, Gelsinger announced that it would create a new $20 billion foundry business to manufacture chips for other companies, and additional capacity expansion in the United States and overseas is also in the planning stage. Companies may also benefit from funding bills planned by the U.S. Congress and the Biden administration to enhance domestic chip manufacturing capabilities.</p><p>Last week, some media said that Intel was considering acquiring GlobalFoundries, the world's fourth largest chip foundry, from the Abu Dhabi government's sovereign wealth fund for about US $30 billion. If reached, it will be the largest acquisition in the company's history, and Intel will also become a full-stack supplier in the chip field, not only chips on PCs, but also key fields such as 5G, Internet of Things, and electric vehicles.</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>Intel's second-quarter financial report exceeded expectations, rose more than 3% after hours and then turned down</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\">\nIntel's second-quarter financial report exceeded expectations, rose more than 3% after hours and then turned down\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-07-23 06:03</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>After the U.S. stock market closed on Thursday, July 22, Eastern Time, the largest U.S. chip manufacturer by revenue<a href=\"https://laohu8.com/S/INTC\">Intel</a>Released the financial report for the second quarter of fiscal year 2021. Despite the positive second-quarter financial report and the guidance provided for the next quarter and full-year, Intel once rose by more than 3% after hours, and then turned down and fell by more than 2%. This may be due to the fact that the closely watched data center revenue is still down 9% year-on-year, and the expected third-quarter revenue is slightly lower than expected.</p><p>Some analysts also said that the adjusted non-GAAP financial report data was \"just in line with market expectations\" and did not provide too many surprises to boost the stock price. After all, Intel is still stuck in the \"quagmire\" of production bottlenecks and delayed release of next-generation advanced process products.</p><p>Intel closed down 0.5% on Thursday at less than $56, falling from a one-week high.<img src=\"https://static.tigerbbs.com/1e44b1f5b13edeceec07010bb6d667de\" tg-width=\"692\" tg-height=\"529\" referrerpolicy=\"no-referrer\"><b>Both revenue and profit in the second quarter increased year-on-year, and the market originally expected a decline, raising the full-year revenue guidance to year-on-year growth</b></p><p>The financial report shows that Intel's adjusted quarterly revenue was US $18.5 billion, a year-on-year increase of 2%, and US $700 million more than the company's previously issued official guidance. This is equivalent to Intel's revenue exceeding expectations for ten consecutive quarters. The market once thought that adjusted revenue was US $17.8 billion, representing a year-on-year decline of nearly 2%.</p><p>The unadjusted quarterly revenue was US $19.6 billion, a slight decrease of 0.6% year-on-year. Some commentators said that Intel sold its flash memory manufacturing business to SK Hynix last year, and this part of the revenue is usually stripped from the financial report analysis.</p><p>Adjusted quarterly EPS of $1.28 per share also exceeded the company's official guidance by $0.23 and increased 4% year-over-year. The market had expected $1.07, representing a 13% decline from $1.23 a year earlier.<img src=\"https://static.tigerbbs.com/54a380ec9f26ad798d138d536762dad0\" tg-width=\"640\" tg-height=\"275\" referrerpolicy=\"no-referrer\">Intel said that in addition to revenue and EPS exceeding official guidance, gross profit margin was also better than previously expected to 59.2%, a year-on-year increase of nearly 3%, and recorded a record second-quarter personal computer PC business revenue and<a href=\"https://laohu8.com/S/MBLY\">Mobileye</a>Division revenue.</p><p>The company also raised its full-year earnings guidance for fiscal year 2021, expecting revenue under GAAP to be US $77.6 billion, compared with the company's previous estimate of US $77 billion.<b>Non-GAAP revenue is expected to be $73.5 billion, the company previously expected $72.5 billion, and analysts expected $73.1 billion, which also represents year-on-year growth</b>。 It expects EPS under GAAP to be $4.09 per share and non-GAAP EPS to be $4.80 per share. The latter company previously expected $4.60 and analysts expected $4.62.<img src=\"https://static.tigerbbs.com/188db5648a869808eaffe51754e2dcda\" tg-width=\"500\" tg-height=\"266\" referrerpolicy=\"no-referrer\"></p><p>At the same time, the company expects adjusted EPS in the third quarter to be earnings per share of US $1.10, which is also higher than analysts' expectations of US $1.08; Revenue in the third quarter is expected to be US $19.1 billion, and adjusted revenue will be approximately US $18.2 billion, slightly lower than analysts' expectations of US $18.27 billion.</p><p>Pat Gelsinger, CEO of Intel, who pushed for the development of chip foundry manufacturing business after taking up his new post in February this year, said that the second-quarter results showed that the company's momentum was gaining and its execution was improving. The digitalization process in various industries continues to accelerate, creating huge growth opportunities for Intel and its customers in core and emerging business areas. \"I believe this is the beginning of a ten-year growth period for the entire semiconductor industry.\"</p><p><b>PC and Mobileye businesses hit the highest revenue in the second quarter, but data center revenue continues to decline year-on-year</b></p><p><b>In terms of business,</b>Intel's Client Computing Division (CCG), which includes personal computer chips, was US $10.1 billion, a year-on-year increase of 6%, a record high in the second quarter and higher than market expectations of about US $10 billion. Last year, it increased by 8% year-on-year and hit a record high, significantly benefiting from the demand for home office and remote classes under the COVID-19 pandemic.</p><p>Data Center Division (DCG), which focuses on providing chips for cloud computing and server manufacturers, had revenue of US $6.5 billion, a year-on-year decrease of 9% and a month-on-month increase of 16%, better than market expectations of approximately US $5.9 billion or a year-on-year decrease of 18%. Last year, it increased by 11% year-on-year to a new high.</p><p>The analysis pointed out that from competitors<a href=\"https://laohu8.com/S/AMD\">AMD</a>And<a href=\"https://laohu8.com/S/NVDA\">Nvidia</a>Against the backdrop of a surge in pressure and worrying delays in the release of advanced process chip products,<b>Investors are closely watching whether Intel's data center outlook and market share are dragged down.</b></p><p>Currently, Nvidia, which specializes in designing graphics processing chip GPUs, is entering data center CPUs. Last year, it surpassed Intel to become the most valuable chip manufacturer in the United States. In April this year, when Intel disclosed that data center revenue in the first quarter plummeted by 20% year-on-year and AMD's similar business doubled, Intel fell by more than 9% after hours, and its stock price has fallen by 14% since the release of the first quarter report.</p><p>In the Internet of Things business unit, the Internet of Things Group (IOTG) 's revenue in the second quarter was US $984 million, a year-on-year surge of 47%, and the market expected it to be US $9; Mobileye, an artificial intelligence-based autonomous driving business, doubled its quarterly revenue and surged 124%, hitting a record high of US $327 million in the second quarter, but it was lower than the US $360 million expected by some analysts. Mobileye's revenue increased by 10% year-on-year to a new high last year.</p><p>In addition, the revenue of the Non-Volatile Storage Solutions Division (NSG) in the second quarter was US $1.1 billion, a year-on-year decrease of 34%, but higher than analysts' expectations of US $690 million. Last year, it increased by 23% year-on-year to a record high. The revenue of the Programmable Solutions Division (PSG) was US $486 million, a year-on-year decrease of 3%.</p><p><img src=\"https://static.tigerbbs.com/4c296d4a684062b9b88a5635caee35b7\" tg-width=\"640\" tg-height=\"240\" referrerpolicy=\"no-referrer\"></p><p>Intel said,<b>Overall second-quarter revenue exceeded guidance provided by the company in April, mainly driven by continued strength in the PC CCG segment and strong recovery in the enterprise segments in the Internet of Things (IOTG) and Data Center segments (DCG)</b>, PC platform sales increased by 33% year-on-year in the quarter, and Mobileye won 10 additional design bids to provide full life cycle technical support for more devices.</p><p><b>Intel stock performs far underperforming competitors as market focuses on expansion and transformation plans under new CEO</b></p><p>In terms of stock price performance, if today's after-hours downward trend continues, it is equivalent to Intel's three after-hours declines after the release of financial reports in the past four quarters. Its stock price fell by more than 12% in the second quarter of this year. During the same period, the Dow Jones Industrial Average, which accommodates it as one of the constituent stocks, rose by 4.6%, the S&P 500 Index rose by more than 8%, the Nasdaq Index, which is mostly technology stocks, rose by 9.5%, and the Philadelphia Semiconductor Index rose by more than 7%.</p><p>Statistics show that as the epidemic has pushed up the demand for chips in cars, laptops and game consoles, the stock prices of most chip manufacturers have soared in the past 12 months. Intel has fallen by more than 9% instead of rising, and competitor Nvidia has risen by more than 80%., AMD rose more than 50%. This is mainly due to Wall Street's short-term bearish view of Intel, which has hurt its stock price due to production mistakes and losing market share to competitors.</p><p>Looking ahead, the market will pay close attention to the transformation strategy given by Intel's management, and CEO Gelsinger is expected to announce more details later this month.</p><p>On the one hand, data center revenue continues to decline year-on-year, which means that Intel continues to lose market share and even its technological leadership. At the same time, the chip shortage will also drag down its sales. Gelsinger once believed that the shortage would last beyond 2022.<b>Company executives said on the earnings conference call: \"The chip shortage problem is expected to bottom out in the second half of this year, but it will take 1-2 years for the chip industry to fully restore production capacity.\"</b></p><p>Earlier this year, Gelsinger announced that it would create a new $20 billion foundry business to manufacture chips for other companies, and additional capacity expansion in the United States and overseas is also in the planning stage. Companies may also benefit from funding bills planned by the U.S. Congress and the Biden administration to enhance domestic chip manufacturing capabilities.</p><p>Last week, some media said that Intel was considering acquiring GlobalFoundries, the world's fourth largest chip foundry, from the Abu Dhabi government's sovereign wealth fund for about US $30 billion. If reached, it will be the largest acquisition in the company's history, and Intel will also become a full-stack supplier in the chip field, not only chips on PCs, but also key fields such as 5G, Internet of Things, and electric vehicles.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c74be4c2a08964ef2daf32217f693b44","relate_stocks":{"03086":"华夏纳指","09086":"华夏纳指-U","INTC":"英特尔"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1178083534","content_text":"美东时间7月22日周四美股盘后，按收入计算的美国最大芯片制造商英特尔发布了2021财年二季度财报。尽管二季度财报和提供的下季度及全年指引均利好，英特尔盘后一度涨超3%，随后转跌并跌超2%。这可能是由于备受关注的数据中心收入仍同比下跌9%，以及三季度预期营收略跌于预期。\n也有分析称，经调整后非GAAP的财报数据“只是符合市场预期”，没有提供太多的惊喜来提振股价，毕竟英特尔当前还陷在生产瓶颈和下一代先进制程产品延迟发布的“泥沼”中。\n英特尔周四收跌0.5%，报收不足56美元，从一周新高回落。二季度营收和盈利均同比增长，市场原本预期下滑，提升全年营收指引至同比增长\n财报显示，英特尔经调整后的季度营收为185亿美元，同比增长2%，也比公司此前发布的官方指引多出7亿美元。这等于英特尔连续十个季度营收超预期，市场曾认为调整后营收为178亿美元，代表同比下滑近2%。\n而未调整前的季度营收为196亿美元，同比微跌0.6%。有评论称，英特尔去年出售其闪存制造业务给韩国的SK海力士，这部分收入通常从财报分析中剥离。\n经调整后的季度EPS为每股收益1.28美元，也比公司的官方指引高出0.23美元，同比增长4%。市场曾预期为1.07美元，代表较去年同期的1.23美元下跌13%。英特尔表示，除了营收和EPS超出官方指引，毛利率也好于此前预期至59.2%，同比上升近3%，并录得创纪录的二季度个人电脑PC业务收入和Mobileye部门收入。\n公司还提升2021财年全年的盈利指引，预计GAAP项下的营收为776亿美元，此前公司预计为770亿美元。预计非GAAP的营收为735亿美元，公司此前预计为725亿美元，分析师预期为731亿美元，这也代表将实现同比增长。预计GAAP项下的EPS为每股收益4.09美元，非GAAP的EPS为每股收益4.80美元，后者公司此前预计为4.60美元，分析师预期为4.62美元。\n同时，公司预计三季度调整后EPS为每股收益1.10美元，同样高于分析师预期的1.08美元；预计三季度营收191亿美元，调整后营收约为182亿美元，略低于分析师预期的182.7亿美元。\n今年2月履新后力推开拓芯片代工制造业务的英特尔首席执行官Pat Gelsinger表示，二季度业绩表明公司势头正在增强、执行力正在提高。各行各业的数字化进程继续加速，为英特尔及其客户在核心和新兴业务领域创造了巨大的增长机会，“相信这是整个半导体行业十年增长期的开始。”\n个人电脑和Mobileye业务创二季度营收最高，但数据中心收入持续同比下滑\n分业务来看，包括个人电脑芯片在内的英特尔客户端计算事业部（CCG）101亿美元，同比增长6%，创二季度新高纪录，也高于市场预期的约100亿美元。去年全年曾同比增8%并创历史最高，显著受益于新冠疫情下的居家办公和远程上课需求。\n专注为云计算和服务器制造商提供芯片的数据中心事业部（DCG）营收65亿美元，同比下跌9%，环比增长16%，好于市场预期的约59亿美元或同比下降18%。去年全年同比增11%至新高。\n分析指出，在来自竞争对手AMD和英伟达的压力激增，以及令人担忧的先进制程芯片产品不断延迟发布的背景下，投资者密切关注英特尔的数据中心前景和市场份额是否受到拖累。\n当前，专门设计图形处理芯片GPU的英伟达正在进军数据中心CPU，去年超过英特尔成为美国市值最高的芯片商。而在今年4月，当英特尔披露一季度数据中心营收同比骤降20%、AMD的同类业务翻倍时，英特尔曾盘后跌超9%，而且一季报发布至今股价累跌14%。\n在物联网业务部中，物联网集团（IOTG）二季度营收9.84亿美元，同比激增47%，市场预期为9美元；基于人工智能的自动驾驶业务Mobileye季度营收翻倍激增124%，创史上二季度最高至3.27亿美元，但低于部分分析师预期的3.6亿美元，Mobileye营收去年曾同比增10%至新高。\n此外，非易失性存储解决方案事业部（NSG）二季度营收11亿美元，同比下跌34%，但高于分析师预期的6.9亿美元，去年曾同比增23%至历史最高。可编程解决方案事业部（PSG）营收4.86亿美元，同比下跌3%。\n\n英特尔表示，二季度整体营收超过公司4月提供的指引，主要由个人电脑CCG部门的持续强劲，以及物联网事业部（IOTG）和数据中心事业部（DCG）中的企业部门强劲复苏推动，当季PC平台销量同比增长 33%，Mobileye 获得 10 个额外的设计中标，为更多设备提供全生命周期技术支持。\n英特尔股价表现远逊于竞争对手，市场聚焦新CEO领导下的扩产和转型计划\n在股价表现方面，今日盘后转跌的态势如果延续，等于英特尔在过去四份季度财报发布后有三次盘后下跌。其股价今年二季度整体跌超12%，同期容纳其作为成分股之一的道指累涨4.6%、标普500指数累涨逾8%、科技股居多的纳指累涨9.5%，费城半导体指数累涨超7%。\n统计显示，由于疫情推升了汽车、笔记本电脑和游戏机中的芯片需求，过去12个月大部分芯片制造商股价飙升，英特尔不升反降了逾9%，竞争对手英伟达则涨超80%，AMD涨超50%。这主要是由于华尔街对英特尔短期内看跌，令其股价因生产失误和市场份额输给竞争对手而受到伤害。\n展望未来，市场将密切关注英特尔管理层给出的转型战略，CEO Gelsinger预计在本月晚些时候公布更多细节。\n一方面，数据中心收入持续同比下降，代表英特尔不断输掉市场份额，甚至输掉技术领先能力。同时，芯片短缺也会拖累其销售，Gelsinger曾认为短缺会持续到2022年以后。公司高管在财报电话会上称：“芯片短缺问题料将在今年下半年见底，但芯片行业完全恢复产能还需1-2年。”\n今年年初，Gelsinger曾宣布将创建一个价值200亿美元的新代工业务，为其他公司制造芯片，美国和海外的额外产能扩张也处于规划阶段。公司还可能受益于美国国会与拜登政府筹划的增强国内芯片制造能力的拨款法案。\n上周有媒体称，英特尔正考虑从阿布扎比政府主权财富基金手中以约300亿美元，收购全球第四大芯片代工厂GlobalFoundries。如果达成将是公司史上最大的一笔收购，英特尔也会变成芯片领域的全栈供应商，不仅仅是PC上的芯片，还包括5G、物联网、电动汽车等关键领域。","news_type":1,"symbols_score_info":{"09086":0.9,"03086":0.9,"INTC":0.9}},"isVote":1,"tweetType":1,"viewCount":376,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":176729528,"gmtCreate":1626916916764,"gmtModify":1703480496419,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Oic","listText":"Oic","text":"Oic","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/176729528","repostId":"2153396623","repostType":4,"isVote":1,"tweetType":1,"viewCount":511,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171815369,"gmtCreate":1626736247151,"gmtModify":1703764042839,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Omg","listText":"Omg","text":"Omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/171815369","repostId":"2152652777","repostType":4,"isVote":1,"tweetType":1,"viewCount":663,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807607591,"gmtCreate":1628033399813,"gmtModify":1703499815654,"author":{"id":"3586848937578320","authorId":"3586848937578320","name":"落难二世祖","avatar":"https://static.tigerbbs.com/cb021fe780dc1f0c756b8d6a5b689c14","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586848937578320","authorIdStr":"3586848937578320"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/807607591","repostId":"2156120097","repostType":4,"repost":{"id":"2156120097","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1628028000,"share":"https://ttm.financial/m/news/2156120097?lang=en_US&edition=fundamental","pubTime":"2021-08-04 06:00","market":"us","language":"zh","title":"Lyft achieved adjusted EBITDA profit for the first time, which once rose more than 6% after hours","url":"https://stock-news.laohu8.com/highlight/detail?id=2156120097","media":"老虎资讯综合","summary":"智通财经APP获悉，周二美股盘后，Lyft公布了截至2021年6月30日的二季度财报。因该公司首次实现季度调整后的EBITDA利润，Lyft股价在盘后交易中一度涨逾6%。受到其财报结果提振，Lyft的竞争对手，将于明日盘后公布财报的优步同时上涨超2%。而这一目标的实现比Lyft给出的指引提前了一个季度。二季度调整后的EBITDA利润率为3.1%，去年同期为亏损率82.6%。","content":"<p>After the U.S. stock market closed on Tuesday, August 3, Eastern Time, Lyft<a href=\"https://laohu8.com/S/LYFT\">$(LYFT) $</a>Announced the financial report for the second quarter ended June 30, 2021. Lyft shares rose more than 6% in after-hours trading as the company achieved its first quarterly adjusted EBITDA profit.<img src=\"https://static.tigerbbs.com/ff158a359bbcc3ded406200c3a2fb587\" tg-width=\"1021\" tg-height=\"633\" referrerpolicy=\"no-referrer\">Lyft's second-quarter revenue increased 125% year-on-year to US $765 million, exceeding expectations of US $696 million, compared with US $339 million in the same period last year; The net loss in the second quarter was US $251.9 million, compared with an expected loss of US $236 million, compared with US $437 million in the same period last year; The loss per share in the second quarter was US $0.76, the market expected a loss of US $0.73, and a loss of US $1.41 in the same period last year.</p><p>The net loss margin in the second quarter was 32.9%, compared with 128.8% in the same period last year. Adjusted net loss in the second quarter was $18 million, compared with $265.8 million in the same period last year.</p><p>Lyft's second-quarter adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was $23.8 million, marking the first time the company achieved quarterly adjusted EBITDA profit. The realization of this goal is one quarter ahead of the guidance given by Lyft. The adjusted EBITDA profit margin in the second quarter was 3.1%, compared with a loss margin of 82.6% in the same period last year.</p><p>The company's number of active passengers in the second quarter increased by 97.3% year-on-year to 17.142 million, compared with 8.688 million in the same period last year, and revenue per active passenger increased by 14.3% year-on-year to US $44.63, compared with US $39.06 in the same period last year.</p><p>After the financial report was announced, LYFT's share price once rose by more than 6% after hours. As of press time, the increase narrowed to 1% to $55.94.<img src=\"https://static.tigerbbs.com/3d2626035e5941a06de601bf0508b0fd\" tg-width=\"709\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Lyft achieved adjusted EBITDA profit for the first time, which once rose more than 6% after hours</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\">\nLyft achieved adjusted EBITDA profit for the first time, which once rose more than 6% after hours\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-08-04 06:00</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>After the U.S. stock market closed on Tuesday, August 3, Eastern Time, Lyft<a href=\"https://laohu8.com/S/LYFT\">$(LYFT) $</a>Announced the financial report for the second quarter ended June 30, 2021. Lyft shares rose more than 6% in after-hours trading as the company achieved its first quarterly adjusted EBITDA profit.<img src=\"https://static.tigerbbs.com/ff158a359bbcc3ded406200c3a2fb587\" tg-width=\"1021\" tg-height=\"633\" referrerpolicy=\"no-referrer\">Lyft's second-quarter revenue increased 125% year-on-year to US $765 million, exceeding expectations of US $696 million, compared with US $339 million in the same period last year; The net loss in the second quarter was US $251.9 million, compared with an expected loss of US $236 million, compared with US $437 million in the same period last year; The loss per share in the second quarter was US $0.76, the market expected a loss of US $0.73, and a loss of US $1.41 in the same period last year.</p><p>The net loss margin in the second quarter was 32.9%, compared with 128.8% in the same period last year. Adjusted net loss in the second quarter was $18 million, compared with $265.8 million in the same period last year.</p><p>Lyft's second-quarter adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was $23.8 million, marking the first time the company achieved quarterly adjusted EBITDA profit. The realization of this goal is one quarter ahead of the guidance given by Lyft. The adjusted EBITDA profit margin in the second quarter was 3.1%, compared with a loss margin of 82.6% in the same period last year.</p><p>The company's number of active passengers in the second quarter increased by 97.3% year-on-year to 17.142 million, compared with 8.688 million in the same period last year, and revenue per active passenger increased by 14.3% year-on-year to US $44.63, compared with US $39.06 in the same period last year.</p><p>After the financial report was announced, LYFT's share price once rose by more than 6% after hours. As of press time, the increase narrowed to 1% to $55.94.<img src=\"https://static.tigerbbs.com/3d2626035e5941a06de601bf0508b0fd\" tg-width=\"709\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/35d89b3fc46f659d27a39823b3d20d09","relate_stocks":{"LYFT":"Lyft, Inc."},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2156120097","content_text":"美东时间8月3日周二美股盘后，Lyft$(LYFT)$公布了截至2021年6月30日的二季度财报。因该公司首次实现季度调整后的EBITDA利润，Lyft股价在盘后交易中一度涨逾6%。Lyft二季度营收同比增长125%至7.65亿美元，超过预期的6.96亿美元，去年同期为3.39亿美元；二季度净亏损为2.519亿美元，预期为亏损2.36亿美元，去年同期为4.37亿美元；二季度每股亏损0.76美元，市场预期亏损0.73美元，去年同期亏损1.41美元。\n二季度的净亏损率为32.9%，而去年同期为128.8%。二季度调整后的净亏损为1800万美元，而去年同期为2.658亿美元。\nLyft二季度调整后的EBITDA(税息折旧及摊销前利润)为2380万美元，标志着该公司首次实现了季度调整后的EBITDA利润。而这一目标的实现比Lyft给出的指引提前了一个季度。二季度调整后的EBITDA利润率为3.1%，去年同期为亏损率82.6%。\n公司二季度活跃乘客数同比增加97.3%至1714.2万，去年同期为868.8万，每活跃乘客的收益同比增加14.3%至44.63美元，去年同期为39.06美元。\n财报公布后，LYFT盘后股价一度涨超6%，截至发稿，涨幅缩窄至1%，报55.94美元。","news_type":1,"symbols_score_info":{"LYFT":0.9}},"isVote":1,"tweetType":1,"viewCount":3238,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}