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thomaschai

thomaschai

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2022-02-04

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2022-01-24

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2021-08-02

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Amazon-invested electric car company Rivian may build new factory in the UK

2021-08-14

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2021-09-02

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Apple's ultimate product exposed in the Cook era! Unprecedented blockbuster new categories

2021-08-26

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Staring at when the Fed tapers its bond purchases is already out! Professionals say when it ends is more important

2021-08-22

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2021-08-20

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2021-08-07

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Ali's financial report is actually very valuable

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2022-12-22

ZZZ7,/ok,

Hong Kong stocks are okay again? The Hengke Index once soared by 5%. What is the key to watch in the future?

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hhhhhhhhh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9945977416","isVote":1,"tweetType":1,"viewCount":2520,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9945977281,"gmtCreate":1681363000643,"gmtModify":1681363004154,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"htmlText":"Good good good good&nbsp;","listText":"Good good good good&nbsp;","text":"Good good good 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11:37","market":"hk","language":"zh","title":"Hong Kong stocks are okay again? The Hengke Index once soared by 5%. What is the key to watch in the future?","url":"https://stock-news.laohu8.com/highlight/detail?id=2293725143","media":"格隆汇","summary":"珍惜复苏的窗口期","content":"<p><html><head></head><body>After the market closed yesterday, a number of heavy benefits landed. Today, Hong Kong stocks \"reborn\" and opened higher and moved higher. The Hang Seng Technology Index once soared 5%, and the Hang Seng Index rose 529 points, or 2.74%, to 19,683 points. The State Index rose more than 3%.</p><p><img src=\"https://static.tigerbbs.com/e2e6b89b12b8e9c1d668f0dd150cacf2\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>On the news side, helped by<a href=\"https://laohu8.com/S/NKE\">Nike</a>(Nike) and<a href=\"https://laohu8.com/S/FDX\">FedEx</a>Announced upbeat quarterly earnings, as well as improved consumer confidence and lower inflation expectations among investors. The three major stock indexes of the U.S. stock market closed higher on Wednesday. All three major indexes rose more than 1%, the largest one-day increase so far in December. Chinese concept stocks rose nearly 4%.</p><p>The policy has also ushered in a number of good news. The China Securities Regulatory Commission proposes to<b>Form a normalized cooperation mechanism for audit supervision between China and the United States, and accelerate the implementation of \"green light\" cases for overseas listing of platform companies</b>； The Standing Committee of the State Council emphasized adhering to the \"two unwavering principles\",<b>Support private enterprises to boost confidence and develop better. Support the healthy and sustainable development of the platform economy.</b></p><p><h3>Hong Kong stocks have been consolidating at high levels recently</h3>The three major indexes of Hong Kong stocks fluctuated and closed up yesterday, showing signs of stopping the decline after the previous day's sharp drop. However, due to the strong rebound of Hong Kong stocks after the optimization of epidemic prevention in November, the cumulative increase of the Hang Seng Index even reached 50%. Subsequently, funds chose to take profits and left the market to wait and see.</p><p>The entire market sentiment dropped sharply as there were no new hot spots. Yesterday, the turnover of Hong Kong stocks fell to less than 70 billion yuan, only 69.2 billion yuan. Superimposed on the return of funds brought about by the Bank of Japan's unexpected and sudden \"hawkish turn\", therefore, under the restriction of existing funds, the entire Hong Kong stock market has no obvious eye-catching sector.</p><p>With the successive implementation of the \"Twenty Articles\" and \"New Ten Articles\" of epidemic prevention policies, the marginal improvement effect brought about by further adjustments to subsequent policies will also be reduced, and the market<b>At present, we are most concerned about the recovery of social economic activities under the impact of the epidemic in the short term.</b></p><p><b>Looking forward to the first quarter, apart from the possibility of customs clearance with Hong Kong, we can hope that social activities will return to normal.</b>Among them, catering tourism was the first to recover, so this sector was quite active yesterday. Today, holiday concept stocks continued to rise.<a href=\"https://laohu8.com/S/00520\">Xiabuxiabu</a>Rose more than 14%,<a href=\"https://laohu8.com/S/06862\">Haidilao</a>Up more than 10%,<a href=\"https://laohu8.com/S/01579\">Yihai International</a>It rose nearly 7%, Meituan rose more than 5%, and Huazhu Group and Tongcheng Travel followed suit.</p><p><img src=\"https://static.tigerbbs.com/b9feb0c63763f96a551e877ae5db663c\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>On December 21, Xiabu Group disclosed the latest dine-in consumption situation. Xiabu North China market ushered in the first small consumption peak of resuming dine-in consumption. The passenger flow of some restaurants quickly picked up, and the scene of waiting in line reappeared.</p><p>According to Haidilao, the passenger flow of the store is gradually recovering. Since December 16, the passenger flow has begun to rebound. In the past few days, the passenger flow has increased by nearly 50% compared with the same period last week. Haidilao said that it is expected to continue to pick up in the next two weeks, especially holidays such as weekends, Christmas, and New Year's Day, which will usher in a wave of peak periods.</p><p><h3>The China Securities Regulatory Commission and the National Standing Committee made big statements</h3>In addition, after the market closed yesterday, the China Securities Regulatory Commission and the Standing Committee of the State Council have the latest support measures for real estate and platform economy.</p><p>The China Securities Regulatory Commission held a meeting to emphasize the need to expand the high-level institutional opening of the capital market.<b>Promote the interconnection of Shanghai-Shenzhen-Hong Kong Stock Connect, expand the target and optimize the trading calendar.</b></p><p><b>In terms of audit between China and the United States,</b>The China Securities Regulatory Commission pointed out that it will promote the formation of a normalized cooperation mechanism for audit supervision between China and the United States and create a more stable and predictable international regulatory cooperation environment. Promote the implementation of the reform of the overseas listing system of enterprises, and accelerate the implementation of \"green light\" cases for overseas listing of platform enterprises. Deepen pragmatic cooperation between the mainland and Hong Kong capital markets, and support Hong Kong in consolidating its status as an international financial center.</p><p>It is worth mentioning that on the morning of December 15, local time, the US PCAOB issued a report confirming that it can complete inspections and investigations of accounting firms in mainland China and Hong Kong in 2022, and revoke the identification of relevant firms in 2021. The market generally believes that this marks the positive results of Sino-US audit supervision cooperation and sends a positive signal for Chinese companies to list in the United States.</p><p><b>In addition, the executive meeting of the State Council once again emphasized adhering to the \"two unwavering principles\" and supporting private enterprises to boost confidence and develop better. Support the healthy and sustainable development of the platform economy.</b></p><p>Xie Logistics, senior investment consultant of Jufeng Investment Consulting, believes that the implementation of various measures of the National Standing Committee will help improve and promote the steady development of the economy and play an important role in boosting the confidence of private enterprises and the market. This meeting also mentioned \"supporting the healthy and sustainable development of the platform economy\". Behind the platform economy, there are thousands of jobs in Qian Qian. After a period of regulatory governance in the past, with policy support, it is believed that platform economy enterprises will play a greater role in the future. Technology stocks broke out in an all-round way today,<a href=\"https://laohu8.com/S/09626\">Bilibili-W</a>It rose by more than 9%, Kuaishou, JD.com, and Meituan rose by more than 5%, Baidu and Alibaba rose by more than 4%, and NetEase and Tencent rose by more than 3%.</p><p><img src=\"https://static.tigerbbs.com/e559c00d1116c1165c5b7fac027a0b4c\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p><b>Regarding real estate,</b>The China Securities Regulatory Commission held a meeting to emphasize that it strongly supports the steady development of the real estate market. Comprehensively implement the plan to improve the balance sheet of high-quality real estate companies, continue to implement special support plans and support tools for private enterprise bond financing, and better promote central-local cooperation to enhance credit and jointly support private real estate companies to issue bonds. Implement the equity financing policies for real estate companies that have been introduced,<b>Allow qualified real estate companies to \"backdoor\" listed real estate companies, and allow listed companies in closely related industries such as real estate and construction to implement real estate-related restructuring. Accelerate the creation of affordable rental housing REITs sector.</b></p><p>The central bank held a meeting to emphasize supporting rigid and improved housing demand and guiding<a href=\"https://laohu8.com/S/FISI\">Financial institution</a>Support restructuring and mergers and acquisitions in the real estate industry, promote the prevention and resolution of risks of high-quality leading real estate companies, and improve the assets and liabilities of leading real estate companies.</p><p>Benefiting from this, mainland real estate stocks opened higher and moved higher.<a href=\"https://laohu8.com/S/03301\">Ronshine China</a>It rose more than 22%, and Zhenro Real Estate rose more than 8%.</p><p>The surge in consumer stocks such as technology stocks, mainland real estate stocks, and catering has driven the three major Hong Kong stock indexes to rise brilliantly.<b>This is because financial real estate, technology and other industries account for a relatively large proportion of the constituent stocks of the Hang Seng Index.</b></p><p>According to the quarterly inspection results of the Hang Seng Index in the third quarter, from the perspective of industry division, the proportion of the financial industry in the Hang Seng Index dropped from 34.66% to 33.98%, public utilities dropped from 3.21% to 3.13%, and real estate rose from 7.03% to 7.05%.%, industry and commerce rose from 55.1% to 55.84%.</p><p><img src=\"https://static.tigerbbs.com/bf533c5f1d91a3f8e56307f495b09cd3\" tg-width=\"1156\" tg-height=\"727\" referrerpolicy=\"no-referrer\"/></p><p>Source: CICC Securities</p><p>After this adjustment, the coverage of the real estate construction industry and non-essential and essential consumption increased from 48.1% and 48.4% to 50.5% and 50.7%, respectively.; The market value of the Hang Seng Index's new economy accounted for 48%. Therefore, from a micro perspective, news about the new economy, real estate, finance, etc. has a greater impact on the trend of Hong Kong stocks.</p><p><h3>What do you think of the follow-up investment value?</h3>On the whole, with overseas liquidity, domestic economic conditions, macro-policy factors and other aspects expected to improve, most brokerage analysts believe that the price-performance ratio of Hong Kong stocks is outstanding, and the trend next year is expected to be full of hope.</p><p>According to the analysis of Ping An Securities, the high point of the Hang Seng Index next year will be between 23,000 and 25,000, and it is recommended to allocate high-quality assets in Hong Kong stocks on dips.</p><p><a href=\"https://laohu8.com/S/000750\">Guohai Securities</a>It is believed that under the circumstances that internal policies release positive signals and the impact of the Federal Reserve's rate hike will gradually weaken, we are optimistic about the recovery of external factors, the subsequent epidemic situation and the boost of Internet performance after the improvement of macro margins, and maintain the industry's \"recommended\" rating.</p><p><a href=\"https://laohu8.com/S/601878\">Zheshang Securities</a>It means that 23 years is the year when Davis double-clicked on the Internet sector, and both the profit side and the valuation side will perform beyond expectations.</p><p>In addition, foreign-funded institutions also recommend overweighting the Chinese stock market. JPMorgan expects the MSCI China Index to rise by 10% in 2023;<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>It is believed that Chinese stocks will outperform other markets in 2023, and it is recommended to increase holdings. Morgan Stanley is bullish on the Chinese stock market again after nearly two years, raising the target point of the Hang Seng Index from 18,200 points to 21,200 points.</p><p></body></html></p>","source":"gelonghui_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hong Kong stocks are okay again? The Hengke Index once soared by 5%. 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The Hengke Index once soared by 5%. What is the key to watch in the future?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">格隆汇</strong><span class=\"h-time small\">2022-12-22 11:37</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>After the market closed yesterday, a number of heavy benefits landed. Today, Hong Kong stocks \"reborn\" and opened higher and moved higher. The Hang Seng Technology Index once soared 5%, and the Hang Seng Index rose 529 points, or 2.74%, to 19,683 points. The State Index rose more than 3%.</p><p><img src=\"https://static.tigerbbs.com/e2e6b89b12b8e9c1d668f0dd150cacf2\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>On the news side, helped by<a href=\"https://laohu8.com/S/NKE\">Nike</a>(Nike) and<a href=\"https://laohu8.com/S/FDX\">FedEx</a>Announced upbeat quarterly earnings, as well as improved consumer confidence and lower inflation expectations among investors. The three major stock indexes of the U.S. stock market closed higher on Wednesday. All three major indexes rose more than 1%, the largest one-day increase so far in December. Chinese concept stocks rose nearly 4%.</p><p>The policy has also ushered in a number of good news. The China Securities Regulatory Commission proposes to<b>Form a normalized cooperation mechanism for audit supervision between China and the United States, and accelerate the implementation of \"green light\" cases for overseas listing of platform companies</b>； The Standing Committee of the State Council emphasized adhering to the \"two unwavering principles\",<b>Support private enterprises to boost confidence and develop better. Support the healthy and sustainable development of the platform economy.</b></p><p><h3>Hong Kong stocks have been consolidating at high levels recently</h3>The three major indexes of Hong Kong stocks fluctuated and closed up yesterday, showing signs of stopping the decline after the previous day's sharp drop. However, due to the strong rebound of Hong Kong stocks after the optimization of epidemic prevention in November, the cumulative increase of the Hang Seng Index even reached 50%. Subsequently, funds chose to take profits and left the market to wait and see.</p><p>The entire market sentiment dropped sharply as there were no new hot spots. Yesterday, the turnover of Hong Kong stocks fell to less than 70 billion yuan, only 69.2 billion yuan. Superimposed on the return of funds brought about by the Bank of Japan's unexpected and sudden \"hawkish turn\", therefore, under the restriction of existing funds, the entire Hong Kong stock market has no obvious eye-catching sector.</p><p>With the successive implementation of the \"Twenty Articles\" and \"New Ten Articles\" of epidemic prevention policies, the marginal improvement effect brought about by further adjustments to subsequent policies will also be reduced, and the market<b>At present, we are most concerned about the recovery of social economic activities under the impact of the epidemic in the short term.</b></p><p><b>Looking forward to the first quarter, apart from the possibility of customs clearance with Hong Kong, we can hope that social activities will return to normal.</b>Among them, catering tourism was the first to recover, so this sector was quite active yesterday. Today, holiday concept stocks continued to rise.<a href=\"https://laohu8.com/S/00520\">Xiabuxiabu</a>Rose more than 14%,<a href=\"https://laohu8.com/S/06862\">Haidilao</a>Up more than 10%,<a href=\"https://laohu8.com/S/01579\">Yihai International</a>It rose nearly 7%, Meituan rose more than 5%, and Huazhu Group and Tongcheng Travel followed suit.</p><p><img src=\"https://static.tigerbbs.com/b9feb0c63763f96a551e877ae5db663c\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>On December 21, Xiabu Group disclosed the latest dine-in consumption situation. Xiabu North China market ushered in the first small consumption peak of resuming dine-in consumption. The passenger flow of some restaurants quickly picked up, and the scene of waiting in line reappeared.</p><p>According to Haidilao, the passenger flow of the store is gradually recovering. Since December 16, the passenger flow has begun to rebound. In the past few days, the passenger flow has increased by nearly 50% compared with the same period last week. Haidilao said that it is expected to continue to pick up in the next two weeks, especially holidays such as weekends, Christmas, and New Year's Day, which will usher in a wave of peak periods.</p><p><h3>The China Securities Regulatory Commission and the National Standing Committee made big statements</h3>In addition, after the market closed yesterday, the China Securities Regulatory Commission and the Standing Committee of the State Council have the latest support measures for real estate and platform economy.</p><p>The China Securities Regulatory Commission held a meeting to emphasize the need to expand the high-level institutional opening of the capital market.<b>Promote the interconnection of Shanghai-Shenzhen-Hong Kong Stock Connect, expand the target and optimize the trading calendar.</b></p><p><b>In terms of audit between China and the United States,</b>The China Securities Regulatory Commission pointed out that it will promote the formation of a normalized cooperation mechanism for audit supervision between China and the United States and create a more stable and predictable international regulatory cooperation environment. Promote the implementation of the reform of the overseas listing system of enterprises, and accelerate the implementation of \"green light\" cases for overseas listing of platform enterprises. Deepen pragmatic cooperation between the mainland and Hong Kong capital markets, and support Hong Kong in consolidating its status as an international financial center.</p><p>It is worth mentioning that on the morning of December 15, local time, the US PCAOB issued a report confirming that it can complete inspections and investigations of accounting firms in mainland China and Hong Kong in 2022, and revoke the identification of relevant firms in 2021. The market generally believes that this marks the positive results of Sino-US audit supervision cooperation and sends a positive signal for Chinese companies to list in the United States.</p><p><b>In addition, the executive meeting of the State Council once again emphasized adhering to the \"two unwavering principles\" and supporting private enterprises to boost confidence and develop better. Support the healthy and sustainable development of the platform economy.</b></p><p>Xie Logistics, senior investment consultant of Jufeng Investment Consulting, believes that the implementation of various measures of the National Standing Committee will help improve and promote the steady development of the economy and play an important role in boosting the confidence of private enterprises and the market. This meeting also mentioned \"supporting the healthy and sustainable development of the platform economy\". Behind the platform economy, there are thousands of jobs in Qian Qian. After a period of regulatory governance in the past, with policy support, it is believed that platform economy enterprises will play a greater role in the future. Technology stocks broke out in an all-round way today,<a href=\"https://laohu8.com/S/09626\">Bilibili-W</a>It rose by more than 9%, Kuaishou, JD.com, and Meituan rose by more than 5%, Baidu and Alibaba rose by more than 4%, and NetEase and Tencent rose by more than 3%.</p><p><img src=\"https://static.tigerbbs.com/e559c00d1116c1165c5b7fac027a0b4c\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p><b>Regarding real estate,</b>The China Securities Regulatory Commission held a meeting to emphasize that it strongly supports the steady development of the real estate market. Comprehensively implement the plan to improve the balance sheet of high-quality real estate companies, continue to implement special support plans and support tools for private enterprise bond financing, and better promote central-local cooperation to enhance credit and jointly support private real estate companies to issue bonds. Implement the equity financing policies for real estate companies that have been introduced,<b>Allow qualified real estate companies to \"backdoor\" listed real estate companies, and allow listed companies in closely related industries such as real estate and construction to implement real estate-related restructuring. Accelerate the creation of affordable rental housing REITs sector.</b></p><p>The central bank held a meeting to emphasize supporting rigid and improved housing demand and guiding<a href=\"https://laohu8.com/S/FISI\">Financial institution</a>Support restructuring and mergers and acquisitions in the real estate industry, promote the prevention and resolution of risks of high-quality leading real estate companies, and improve the assets and liabilities of leading real estate companies.</p><p>Benefiting from this, mainland real estate stocks opened higher and moved higher.<a href=\"https://laohu8.com/S/03301\">Ronshine China</a>It rose more than 22%, and Zhenro Real Estate rose more than 8%.</p><p>The surge in consumer stocks such as technology stocks, mainland real estate stocks, and catering has driven the three major Hong Kong stock indexes to rise brilliantly.<b>This is because financial real estate, technology and other industries account for a relatively large proportion of the constituent stocks of the Hang Seng Index.</b></p><p>According to the quarterly inspection results of the Hang Seng Index in the third quarter, from the perspective of industry division, the proportion of the financial industry in the Hang Seng Index dropped from 34.66% to 33.98%, public utilities dropped from 3.21% to 3.13%, and real estate rose from 7.03% to 7.05%.%, industry and commerce rose from 55.1% to 55.84%.</p><p><img src=\"https://static.tigerbbs.com/bf533c5f1d91a3f8e56307f495b09cd3\" tg-width=\"1156\" tg-height=\"727\" referrerpolicy=\"no-referrer\"/></p><p>Source: CICC Securities</p><p>After this adjustment, the coverage of the real estate construction industry and non-essential and essential consumption increased from 48.1% and 48.4% to 50.5% and 50.7%, respectively.; The market value of the Hang Seng Index's new economy accounted for 48%. Therefore, from a micro perspective, news about the new economy, real estate, finance, etc. has a greater impact on the trend of Hong Kong stocks.</p><p><h3>What do you think of the follow-up investment value?</h3>On the whole, with overseas liquidity, domestic economic conditions, macro-policy factors and other aspects expected to improve, most brokerage analysts believe that the price-performance ratio of Hong Kong stocks is outstanding, and the trend next year is expected to be full of hope.</p><p>According to the analysis of Ping An Securities, the high point of the Hang Seng Index next year will be between 23,000 and 25,000, and it is recommended to allocate high-quality assets in Hong Kong stocks on dips.</p><p><a href=\"https://laohu8.com/S/000750\">Guohai Securities</a>It is believed that under the circumstances that internal policies release positive signals and the impact of the Federal Reserve's rate hike will gradually weaken, we are optimistic about the recovery of external factors, the subsequent epidemic situation and the boost of Internet performance after the improvement of macro margins, and maintain the industry's \"recommended\" rating.</p><p><a href=\"https://laohu8.com/S/601878\">Zheshang Securities</a>It means that 23 years is the year when Davis double-clicked on the Internet sector, and both the profit side and the valuation side will perform beyond expectations.</p><p>In addition, foreign-funded institutions also recommend overweighting the Chinese stock market. JPMorgan expects the MSCI China Index to rise by 10% in 2023;<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>It is believed that Chinese stocks will outperform other markets in 2023, and it is recommended to increase holdings. Morgan Stanley is bullish on the Chinese stock market again after nearly two years, raising the target point of the Hang Seng Index from 18,200 points to 21,200 points.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.gelonghui.com/p/570137\">格隆汇</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/cc3c5eecabc22a565a773e3dd9ba0631","relate_stocks":{"513600":"恒生指数ETF","02833":"恒指ETF","HSI":"恒生指数","HSTECH":"恒生科技指数"},"source_url":"https://www.gelonghui.com/p/570137","is_english":false,"share_image_url":"https://static.laohu8.com/6b8fa6424aebe95f6781d04ef17a1852","article_id":"2293725143","content_text":"昨日盘后多项重磅利好落地，今日港股“咸鱼翻生”，高开高走，恒生科技指数一度飙涨5%，恒指上涨529点，或2.74%，报19683点。国指涨超3%。消息面上，受助于耐克(Nike)和联邦快递公布乐观的季度盈利，以及消费信心改善和投资者的通胀预期下降。美国股市三大股指周三收高，三大指数均涨超1%，创12月迄今最大单日涨幅，中概股大涨近4%。政策面也迎来多项利好消息。证监会提出推动形成中美审计监管常态化合作机制，加快平台企业境外上市“绿灯”案例落地；国常会强调坚持“两个毫不动摇”，支持民营企业提振信心、更好发展。支持平台经济健康持续发展。港股近日高位盘整港股昨日三大指数震荡收涨，继前一日大跌后有止跌迹象。但由于港股在11月的疫情防疫优化后强势反弹，恒生科指累计涨幅甚至高达50%随后资金纷纷选择获利了结，离场观望。整个市场气氛随着没有新热点而急降，昨日港股成交跌至不足700亿，仅有692亿元。叠加日本央行出人意料突然“转鹰”带来的资金回流，因此在存量资金的限制下，整个港股并没有明显的亮眼板块。随着防疫政策“二十条”以及“新十条”的陆续落地，后续政策的进一步调整带来的边际改善效应也会有所减小，市场目前最为关注的是在短期在疫情的冲击下，社会面的经济活动的回恢复情况。展望一季度，除了存在与香港通关的可能性外，能寄望的就是社会面活动恢复正常，这当中先复苏的是餐饮旅游，所以该板块昨日相当活跃，今日假日概念股持续拉升，呷哺呷哺涨超14%，海底捞涨超10%，颐海国际涨近7%，美团涨超5%，华住集团、同程旅行等跟涨。12月21日，呷哺集团披露最新堂食消费情况，呷哺华北市场迎来恢复堂食的首个消费小高峰，部分餐厅客流迅速回暖，重现排队等位的场景。据海底捞介绍，门店的客流量正在逐步恢复，12月16日起客流开始出现回升，这几天客流量较上周同期增长近五成。海底捞表示，预计未来2周会持续回暖，尤其是像周末、圣诞节、元旦节这样的节假日，会迎来一波高峰期。证监会、国常会重磅发声另外，昨日盘后，证监会、国常会关于房地产、平台经济均有最新的的支持措施。证监会召开会议强调，扩大资本市场高水平制度型开放。推动沪深港通互联互通扩大标的、优化交易日历落地。中美审计方面，证监会指出推动形成中美审计监管常态化合作机制，营造更加稳定、可预期的国际监管合作环境。推动企业境外上市制度改革落地实施，加快平台企业境外上市“绿灯”案例落地。深化内地与香港资本市场务实合作，支持香港巩固国际金融中心地位。值得一提的还是，当地时间12月15日上午，美PCAOB发布报告，确认2022年度可以对中国内地和香港会计师事务所完成检查和调查，撤销2021年对相关事务所作出的认定。市场普遍认为这标志着中美审计监管合作取得积极成效，对中国企业在美上市释放出积极信号。另外，国务院常务会议再度强调坚持“两个毫不动摇”，支持民营企业提振信心、更好发展。支持平台经济健康持续发展。巨丰投顾高级投资顾问谢后勤认为，国常会各项措施的实施将有助于改善和促进经济的平稳发展，对提振民营企业和市场信心有重要作用。本次会议还提到“支持平台经济健康持续发展”。平台经济背后关系到千千万万的就业岗位。在经过过去一段时间的监管治理之后，在政策支持下，相信未来平台经济企业将会发挥更大作用。今日科技股全面爆发，哔哩哔哩-W涨超9%，快手、京东、美团涨超5%，百度、阿里巴巴涨超4%，网易、腾讯涨超3%。关于房地产，证监会召开会议强调，大力支持房地产市场平稳发展。全面落实改善优质房企资产负债表计划，继续实施民企债券融资专项支持计划和支持工具，更好推进央地合作增信共同支持民营房企发债。落实好已出台的房企股权融资政策，允许符合条件的房企“借壳”已上市房企，允许房地产和建筑等密切相关行业上市公司实施涉房重组。加快打造保障性租赁住房REITs板块。央行召开会议强调，支持刚性和改善性住房需求，引导金融机构支持房地产行业重组并购，推动防范化解优质头部房企风险，改善头部房企资产负债状况。受益于此，内房股高开高走。融信中国涨超22%，正荣地产涨超8%。科技股、内房股、餐饮等消费股的大涨带动港股三大指数涨幅亮眼。这是因为金融地产、科技等行业在恒指成分股的占比较大。根据恒指三季度的季检结果显示，从行业划分来看，金融业在恒指中的比重从34.66%降至33.98%，公用事业由3.21%降至3.13%，地产由7.03%升至7.05%，工商业由55.1%升至55.84%。来源：中金证券此次调整后，地产建筑业和非必需性和必需性消费的覆盖度分别从48.1%和48.4%提升至50.5%和50.7%。；恒指新经济市值占比达到48%。因此微观来看，有关于新经济、地产、金融等方面的消息对港股的走势影响较大。后续投资价值怎么看？整体上看，在海外流动性、国内经济状况、宏观政策因素等多方面预期转好的情况下，大多数券商分析师认为港股性价比凸显，料明年走势充满希望。平安证券分析指，明年恒指高点在23000-25000之间，推荐逢低配置港股优质资产。国海证券认为在内部政策释放利好信号、美联储加息影响将逐渐减弱的情况下，看好外围因素回暖、后续疫情和宏观边际改善后的互联网业绩提振，维持行业“推荐”评级。浙商证券则表示，23年是互联网版块戴维斯双击之年，利润端和估值端都将有超预期表现。此外，外资机构同样建议超配中国股市。小摩预计2023年MSCI中国指数的上涨空间为10%；高盛则认为中国股票将在2023年跑赢其他市场，建议增持。大摩更是时隔近两年再次看多中国股市，将恒指的目标点位从18200点提高到21200点。","news_type":1,"symbols_score_info":{"513600":0.6,"HHImain":0.6,"MCHmain":0.6,"HSTECH":0.9,"02833":0.6,"HSI":1}},"isVote":1,"tweetType":1,"viewCount":2159,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9030902315,"gmtCreate":1645592714350,"gmtModify":1676534043747,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"htmlText":"Ggggg","listText":"Ggggg","text":"Ggggg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9030902315","repostId":"1120506339","repostType":4,"repost":{"id":"1120506339","kind":"news","pubTimestamp":1645537550,"share":"https://ttm.financial/m/news/1120506339?lang=en_US&edition=fundamental","pubTime":"2022-02-22 21:45","market":"hk","language":"zh","title":"Haidilao's pre-loss exceeded 3.8 billion yuan last year. Is there a chance of a comeback this year?","url":"https://stock-news.laohu8.com/highlight/detail?id=1120506339","media":"野马财经","summary":"海底捞将遭遇上市以来首次亏损。2月21日，海底捞发布盈利预警——2021年全年预计亏损38亿元至45亿元。财报显示，2018年至2020年，海底捞的净利润分别为16.46亿元、23.45亿元、3.09","content":"<p><html><head></head><body><a href=\"https://laohu8.com/S/06862\">Haidilao</a>Will suffer its first loss since listing.</p><p>On February 21, Haidilao issued a profit warning-<b>The full-year loss in 2021 is expected to be 3.8 billion to 4.5 billion yuan.</b>The financial report shows that from 2018 to 2020, Haidilao's net profits were 1.646 billion yuan, 2.345 billion yuan, and 309 million yuan respectively, totaling about 4.3 billion yuan. In other words, Haidilao, which still made a profit of 94.529 million yuan in the first half of 2021,<b>In just half a year, it almost lost all the profits of three years of listing.</b></p><p>Regarding the reasons for the loss, Haidilao said,<b>The closure of more than 300 restaurants in 2021, as well as the decline in restaurant performance and other factors, resulting in one-time losses and impairment losses from the disposal of long-term assets (houses, equipment, etc.) totaling about 3.3 billion to 3.9 billion yuan.</b>In addition, Haidilao also mentioned the impact of the epidemic, rapid expansion, and internal management issues.</p><p>Haidilao's profits have fallen sharply, and the keen capital market's attitude towards the once \"myth of the catering industry\" is similarly cold.</p><p>As of the close on February 22, Haidilao reported HK $18.92 per share, with a total market value of HK $105.5 billion (approximately RMB 85.737 billion). In February 2021, Haidilao's stock price reached a historical peak of 85.75 Hong Kong dollars per share, and its total market value was once close to 470 billion Hong Kong dollars (about 381.958 billion yuan).<b>In comparison, Haidilao evaporated nearly 300 billion yuan in one year.</b></p><p>Haidilao once became a \"phenomenal\" existence with its high-quality service. Before it went public, it was known as the \"aircraft carrier\" in the catering industry with tens of billions of revenue. Today's Haidilao has not only suffered a sharp decline in profits and stock prices, but has also been caught in the public opinion of price increases, lack of weight and even food safety.</p><p>Is Haidilao skimming off the bubble, or is it going to fall to the bottom of the sea?</p><p><b>Emergency braking closes 1/5 stores</b></p><p>How fast has Haidilao expanded in recent years? As of 2017 before its listing, Haidilao has been founded for 23 years, and the total number of stores is only 273. After listing, Haidilao began to accelerate its expansion-a net increase of 193 stores in 2018; 308 new stores opened in 2019; In 2020, 544 companies will continue to expand under the epidemic; In the first half of 2021, 299 new companies will be added again.</p><p>The rapid expansion strategy stimulates the nerves of investors in the secondary market. Since its listing on September 26, 2018, Haidilao's stock price has risen from an issue price of HK $17.8 per share to a record high of HK $85.75 per share in February 2021, and its total market value was once close to HK $470 billion.</p><p><b>Haidilao founder Zhang Yong and his wife and second-in-command Shi Yonghong placed 70.5 million shares at a price of HK $33.2 per share on May 6, 2020, cashing out a total of 2.34 billion yuan.</b></p><p>In November 2021, Haidilao suddenly took the initiative to brake and announced that it would gradually close about 300 stores that failed to meet expectations. Some of them will temporarily rest and reopen at an opportunity. The rest period will not exceed two years at most.</p><p>Regarding the reason for the store closure, Haidilao said that the planned store operation failed to meet expectations due to the rapid expansion strategy formulated in 2019. Specifically, it includes wrong location selection of some stores, changes in organizational structure that make managers too tired, insufficient number of excellent managers, excessive belief in KPI indicators that connect interests, and insufficient corporate culture construction.</p><p>As of June 30, 2021, the number of Haidilao stores worldwide reached 1,597. The closure of 300 stores means that the number of Haidilao stores will be reduced by 1/5.</p><p><img src=\"https://static.tigerbbs.com/ddefb76a367ec0d40497a273ae82b807\" tg-width=\"506\" tg-height=\"380\" referrerpolicy=\"no-referrer\"/></p><p>Credit: Canned Gallery</p><p>Behind the survival of the broken arm, Haidilao is trapped in the dark cloud of \"increasing income but not increasing profits\".</p><p>The announcement shows that Haidilao's revenue in 2021 is expected to exceed RMB 40 billion, compared with approximately RMB 28.6 billion in 2020, an increase of more than 40%.</p><p>Revenue hit a record high, but net profit is expected to lose 3.8 billion to 4.5 billion yuan. The reason behind this is closely related to the turnover rate. The table turnover rate refers to the average number of times each table is used in a restaurant in a day. It is a recognized core data in the catering industry. It is directly related to the revenue of the restaurant and directly reflects customers' love for the restaurant.</p><p>In 2018, Haidilao served 160 million people, with an average turnover rate of 5.2 times per day, almost setting the highest turnover rate in the catering industry. However, in recent years, Haidilao's turnover rate has been declining continuously.<b>In 2019 and 2020, the turnover rate of Haidilao will be 4.8 times/day and 3.5 times/day respectively, and will directly drop to 3 times/day in 2021.</b></p><p>The enthusiasm of the capital market is not directly proportional to the word-of-mouth.</p><p>According to incomplete statistics, Haidilao has been on the hot search more than 35 times in 2021, and there are many negative topics, such as \"Haidilao beef cubes have become vegetarian\", \"Zhengzhou Haidilao 72 yuan 200 grams of hairy belly is actually only 138 grams\" wait.</p><p>On the evening of November 1, 2021, the topic \"Haidilao Douhua was fined 20,000 yuan for expiration\" also topped the hot search list.</p><p>Under the circumstances that it is difficult to increase revenue and profits, the quality of Haidilao's signature has \"shrunk\", and its reputation has declined or affected diners' patronage, falling into an a vicious circle.</p><p><b>\"Master-apprentice system\" stalls</b></p><p>As early as the beginning of 2021, a number of media reported the phenomenon of \"closure wave\" of Beijing Haidilao stores. The main reason is improper site selection.</p><p>According to Caijing.com,<b>According to a person familiar with the matter, \"In fact, Haidilao signed more than 600 stores last year (2020), but actually only opened more than 300 stores. Haidilao has lowered its store opening standards, but now it has found a'stall '. Recently, some stores are not optimistic. stop.\"</b></p><p>At the same time, the insider said, \"Sanlitun is only 4.4 kilometers from Youtang. Within this range, there are nearly 6 stores, including SOHO store, 3.3 store, Huapu Commercial Building store, Ritan store, and Youtang store under renovation. For catering brands that take dinner, they generally don't tend to open two stores within three kilometers.\"</p><p>Generally speaking, the location of a brand's store is mainly dominated by development and development personnel. In Haidilao, the store manager, that is, \"Master\", is currently responsible for the location of the store.</p><p>For a long time, the \"mentoring system\" has been a management method that Haidilao is proud of in the industry.</p><p><img src=\"https://static.tigerbbs.com/01da9343a6182c8a27185ded836ac8a1\" tg-width=\"1080\" tg-height=\"776\" referrerpolicy=\"no-referrer\"/></p><p>Credit: Canned Gallery</p><p>According to Haidilao's prospectus, in addition to the basic salary, the salary of the store manager as a master can also receive financial rewards from the higher of the following two options:</p><p><b>A: 2.8% of the profit of its managed restaurants;</b></p><p><b>B: Profit from own restaurants 0.4% + number of apprentice restaurants * profit from apprentice restaurants 3.1% + number of apprentice restaurants * profit from apprentice restaurants 1.5%</b></p><p>Take the monthly profit of one's own restaurant of 1 million as an example, if the store manager only does his own restaurant well, he can get a bonus of 28,000; However, if the store manager brings out two apprentice stores (the monthly profit is also 1 million), the profit share of the store manager's apprentice store alone can reach 2 * 100 * 3.1% = 62,000.</p><p>Under such a salary structure, the wealth myth of the highest annual salary of 6 million yuan for Haidilao store managers has been created.</p><p>It is also driven by the \"master-apprentice system\" management model that the Haidilao \"empire\" with such a huge number of stores has emerged. Previously, some market voices believed that:<b>\"Haidilao didn't start with service. Its secret is'pyramid schemes' and it is a mentoring system.\"</b></p><p>At the end of 2020, Zhou Zhaocheng, executive director and chief strategy officer of Haidilao, publicly affirmed the benefits of the \"mentoring system\" for store location selection.</p><p>\"When Master takes his apprentice to expand the store, he will definitely try his best to choose a new store location with the greatest commercial potential and the highest rate of return. However, if it is only the decision of the expansion specialist, it is very likely that there will be a risk of wrong site selection because he is not responsible for future operations. The probability between the two is very different.\"</p><p>In June 2021, at Haidilao's annual general meeting of shareholders, Chairman Zhang Yong publicly reflected,<b>Acknowledging that the decision to expand stores in June 2020 was wrong. In the announcement issued on November 5, 2021, Haidilao once again admitted that the phenomenon of \"mistakes in the location selection of some stores\" caused by the rapid expansion strategy was the \"mentoring system\" store opening interest chain.</b></p><p><b>The tuition fees were not paid in vain</b></p><p>At the same time as closing the store, Haidilao announced the launch of the \"Woodpecker\" plan, continuing to pay attention to stores with poor operating performance, strengthening internal management and assessment mechanisms, and shrinking business expansion.<b>Before the company's operating conditions are comprehensively improved, the company will shrink the group's business expansion plan in due course, and the average turnover rate has not reached 4 times/day. In principle, it will not open new branches on a large scale.</b></p><p>It can be seen that Haidilao has realized that there are extremely high risks in the economic downturn and contrarian expansion during the epidemic, and its own management model needs to be improved. This time, the tuition fees were not paid in vain.</p><p>However, where will Haidilao go next?</p><p>Zhu Danpeng, a food industry analyst, believes that, on the whole, Haidilao's strategy this time can be described as \"survival with a broken arm\", which should be a more correct approach, and Haidilao does not have much room for expansion in the future.</p><p>From the current point of view, the red sea of hot pot track is churning, and high-end and segmentation have become trends.</p><p>According to the report \"China Catering Big Data 2020\", with the development of the industry and the improvement of residents' disposable income level, the number of stores with a unit price of 120 yuan and above in hot pot restaurants across the country is relatively small, but it is growing rapidly, while the number of stores with a unit price of 30 yuan and below has experienced negative growth in all tier cities.</p><p>Among them, the competition of leading hot pot brands is more intense.</p><p><a href=\"https://laohu8.com/S/00520\">Xiabuxiabu</a>Its high-end hot pot brand Coucou has developed particularly rapidly in recent years and has become a strong rival of Haidilao in the future development path.<b>Taking the per capita consumption on Dianping as an example, if you search for Coucou Hot Pot in Shanghai, the price range is 150-170 yuan, and the price range of Haidilao is 100-150 yuan. In terms of unit price, Coucou Hotpot has exceeded the price of Haidilao.</b></p><p><img src=\"https://static.tigerbbs.com/feaef3a3216232fae7d71ad90cfb1153\" tg-width=\"506\" tg-height=\"379\" referrerpolicy=\"no-referrer\"/></p><p>Credit: Canned Gallery</p><p>In terms of service, at the end of 2020, Coucou launched the country's first new model store of \"hot pot + tavern + tea\", selling hot pot at noon, milk tea in the afternoon, and turning it into a bar at night. The \"disco dance\" in hot pot restaurants directly benchmarks Haidilao's \"hair washing\" and \"manicure\" in hot pot restaurants. Haidilao has always been known for its \"good service\", and Coucou's differentiated service form has found the possibility of replacing \"Haidilao-style service\".</p><p>At the same time, brand rookies appeared one after another to divide up the cake.</p><p>In August 2021,<b>Brother Zhou Hotpot received hundreds of millions of yuan in Series A financing from Black Ant Capital; Banu Maodu Hotpot also stated that it will complete a new round of financing of over 500 million yuan, led by CPE Yuanfeng Capital, followed by Richu Capital, Gaorong Capital, and Tomato Capital.</b></p><p>However, some analysts pointed out that Haidilao still has potential room for growth-it will continue to expand horizontally around the hot pot scene.</p><p>At present, Haidilao has built a hot pot ingredient supermarket, ready-made food, fast food, and has also opened a \"milk tea shop\". At the end of last year, Haidilao launched 7 products of pot bottoms, dishes and snacks, and plans to launch new products at least twice a year.</p><p>It is worth noting that as of the end of June 2021, Haidilao still has 3.5 billion yuan in cash and cash equivalents, which will undoubtedly increase the possibility and confidence of Haidilao's horizontal expansion.</p><p></body></html></p>","source":"lsy1589532854679","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>Haidilao's pre-loss exceeded 3.8 billion yuan last year. Is there a chance of a comeback 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\">\nHaidilao's pre-loss exceeded 3.8 billion yuan last year. Is there a chance of a comeback this year?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">野马财经</strong><span class=\"h-time small\">2022-02-22 21:45</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body><a href=\"https://laohu8.com/S/06862\">Haidilao</a>Will suffer its first loss since listing.</p><p>On February 21, Haidilao issued a profit warning-<b>The full-year loss in 2021 is expected to be 3.8 billion to 4.5 billion yuan.</b>The financial report shows that from 2018 to 2020, Haidilao's net profits were 1.646 billion yuan, 2.345 billion yuan, and 309 million yuan respectively, totaling about 4.3 billion yuan. In other words, Haidilao, which still made a profit of 94.529 million yuan in the first half of 2021,<b>In just half a year, it almost lost all the profits of three years of listing.</b></p><p>Regarding the reasons for the loss, Haidilao said,<b>The closure of more than 300 restaurants in 2021, as well as the decline in restaurant performance and other factors, resulting in one-time losses and impairment losses from the disposal of long-term assets (houses, equipment, etc.) totaling about 3.3 billion to 3.9 billion yuan.</b>In addition, Haidilao also mentioned the impact of the epidemic, rapid expansion, and internal management issues.</p><p>Haidilao's profits have fallen sharply, and the keen capital market's attitude towards the once \"myth of the catering industry\" is similarly cold.</p><p>As of the close on February 22, Haidilao reported HK $18.92 per share, with a total market value of HK $105.5 billion (approximately RMB 85.737 billion). In February 2021, Haidilao's stock price reached a historical peak of 85.75 Hong Kong dollars per share, and its total market value was once close to 470 billion Hong Kong dollars (about 381.958 billion yuan).<b>In comparison, Haidilao evaporated nearly 300 billion yuan in one year.</b></p><p>Haidilao once became a \"phenomenal\" existence with its high-quality service. Before it went public, it was known as the \"aircraft carrier\" in the catering industry with tens of billions of revenue. Today's Haidilao has not only suffered a sharp decline in profits and stock prices, but has also been caught in the public opinion of price increases, lack of weight and even food safety.</p><p>Is Haidilao skimming off the bubble, or is it going to fall to the bottom of the sea?</p><p><b>Emergency braking closes 1/5 stores</b></p><p>How fast has Haidilao expanded in recent years? As of 2017 before its listing, Haidilao has been founded for 23 years, and the total number of stores is only 273. After listing, Haidilao began to accelerate its expansion-a net increase of 193 stores in 2018; 308 new stores opened in 2019; In 2020, 544 companies will continue to expand under the epidemic; In the first half of 2021, 299 new companies will be added again.</p><p>The rapid expansion strategy stimulates the nerves of investors in the secondary market. Since its listing on September 26, 2018, Haidilao's stock price has risen from an issue price of HK $17.8 per share to a record high of HK $85.75 per share in February 2021, and its total market value was once close to HK $470 billion.</p><p><b>Haidilao founder Zhang Yong and his wife and second-in-command Shi Yonghong placed 70.5 million shares at a price of HK $33.2 per share on May 6, 2020, cashing out a total of 2.34 billion yuan.</b></p><p>In November 2021, Haidilao suddenly took the initiative to brake and announced that it would gradually close about 300 stores that failed to meet expectations. Some of them will temporarily rest and reopen at an opportunity. The rest period will not exceed two years at most.</p><p>Regarding the reason for the store closure, Haidilao said that the planned store operation failed to meet expectations due to the rapid expansion strategy formulated in 2019. Specifically, it includes wrong location selection of some stores, changes in organizational structure that make managers too tired, insufficient number of excellent managers, excessive belief in KPI indicators that connect interests, and insufficient corporate culture construction.</p><p>As of June 30, 2021, the number of Haidilao stores worldwide reached 1,597. The closure of 300 stores means that the number of Haidilao stores will be reduced by 1/5.</p><p><img src=\"https://static.tigerbbs.com/ddefb76a367ec0d40497a273ae82b807\" tg-width=\"506\" tg-height=\"380\" referrerpolicy=\"no-referrer\"/></p><p>Credit: Canned Gallery</p><p>Behind the survival of the broken arm, Haidilao is trapped in the dark cloud of \"increasing income but not increasing profits\".</p><p>The announcement shows that Haidilao's revenue in 2021 is expected to exceed RMB 40 billion, compared with approximately RMB 28.6 billion in 2020, an increase of more than 40%.</p><p>Revenue hit a record high, but net profit is expected to lose 3.8 billion to 4.5 billion yuan. The reason behind this is closely related to the turnover rate. The table turnover rate refers to the average number of times each table is used in a restaurant in a day. It is a recognized core data in the catering industry. It is directly related to the revenue of the restaurant and directly reflects customers' love for the restaurant.</p><p>In 2018, Haidilao served 160 million people, with an average turnover rate of 5.2 times per day, almost setting the highest turnover rate in the catering industry. However, in recent years, Haidilao's turnover rate has been declining continuously.<b>In 2019 and 2020, the turnover rate of Haidilao will be 4.8 times/day and 3.5 times/day respectively, and will directly drop to 3 times/day in 2021.</b></p><p>The enthusiasm of the capital market is not directly proportional to the word-of-mouth.</p><p>According to incomplete statistics, Haidilao has been on the hot search more than 35 times in 2021, and there are many negative topics, such as \"Haidilao beef cubes have become vegetarian\", \"Zhengzhou Haidilao 72 yuan 200 grams of hairy belly is actually only 138 grams\" wait.</p><p>On the evening of November 1, 2021, the topic \"Haidilao Douhua was fined 20,000 yuan for expiration\" also topped the hot search list.</p><p>Under the circumstances that it is difficult to increase revenue and profits, the quality of Haidilao's signature has \"shrunk\", and its reputation has declined or affected diners' patronage, falling into an a vicious circle.</p><p><b>\"Master-apprentice system\" stalls</b></p><p>As early as the beginning of 2021, a number of media reported the phenomenon of \"closure wave\" of Beijing Haidilao stores. The main reason is improper site selection.</p><p>According to Caijing.com,<b>According to a person familiar with the matter, \"In fact, Haidilao signed more than 600 stores last year (2020), but actually only opened more than 300 stores. Haidilao has lowered its store opening standards, but now it has found a'stall '. Recently, some stores are not optimistic. stop.\"</b></p><p>At the same time, the insider said, \"Sanlitun is only 4.4 kilometers from Youtang. Within this range, there are nearly 6 stores, including SOHO store, 3.3 store, Huapu Commercial Building store, Ritan store, and Youtang store under renovation. For catering brands that take dinner, they generally don't tend to open two stores within three kilometers.\"</p><p>Generally speaking, the location of a brand's store is mainly dominated by development and development personnel. In Haidilao, the store manager, that is, \"Master\", is currently responsible for the location of the store.</p><p>For a long time, the \"mentoring system\" has been a management method that Haidilao is proud of in the industry.</p><p><img src=\"https://static.tigerbbs.com/01da9343a6182c8a27185ded836ac8a1\" tg-width=\"1080\" tg-height=\"776\" referrerpolicy=\"no-referrer\"/></p><p>Credit: Canned Gallery</p><p>According to Haidilao's prospectus, in addition to the basic salary, the salary of the store manager as a master can also receive financial rewards from the higher of the following two options:</p><p><b>A: 2.8% of the profit of its managed restaurants;</b></p><p><b>B: Profit from own restaurants 0.4% + number of apprentice restaurants * profit from apprentice restaurants 3.1% + number of apprentice restaurants * profit from apprentice restaurants 1.5%</b></p><p>Take the monthly profit of one's own restaurant of 1 million as an example, if the store manager only does his own restaurant well, he can get a bonus of 28,000; However, if the store manager brings out two apprentice stores (the monthly profit is also 1 million), the profit share of the store manager's apprentice store alone can reach 2 * 100 * 3.1% = 62,000.</p><p>Under such a salary structure, the wealth myth of the highest annual salary of 6 million yuan for Haidilao store managers has been created.</p><p>It is also driven by the \"master-apprentice system\" management model that the Haidilao \"empire\" with such a huge number of stores has emerged. Previously, some market voices believed that:<b>\"Haidilao didn't start with service. Its secret is'pyramid schemes' and it is a mentoring system.\"</b></p><p>At the end of 2020, Zhou Zhaocheng, executive director and chief strategy officer of Haidilao, publicly affirmed the benefits of the \"mentoring system\" for store location selection.</p><p>\"When Master takes his apprentice to expand the store, he will definitely try his best to choose a new store location with the greatest commercial potential and the highest rate of return. However, if it is only the decision of the expansion specialist, it is very likely that there will be a risk of wrong site selection because he is not responsible for future operations. The probability between the two is very different.\"</p><p>In June 2021, at Haidilao's annual general meeting of shareholders, Chairman Zhang Yong publicly reflected,<b>Acknowledging that the decision to expand stores in June 2020 was wrong. In the announcement issued on November 5, 2021, Haidilao once again admitted that the phenomenon of \"mistakes in the location selection of some stores\" caused by the rapid expansion strategy was the \"mentoring system\" store opening interest chain.</b></p><p><b>The tuition fees were not paid in vain</b></p><p>At the same time as closing the store, Haidilao announced the launch of the \"Woodpecker\" plan, continuing to pay attention to stores with poor operating performance, strengthening internal management and assessment mechanisms, and shrinking business expansion.<b>Before the company's operating conditions are comprehensively improved, the company will shrink the group's business expansion plan in due course, and the average turnover rate has not reached 4 times/day. In principle, it will not open new branches on a large scale.</b></p><p>It can be seen that Haidilao has realized that there are extremely high risks in the economic downturn and contrarian expansion during the epidemic, and its own management model needs to be improved. This time, the tuition fees were not paid in vain.</p><p>However, where will Haidilao go next?</p><p>Zhu Danpeng, a food industry analyst, believes that, on the whole, Haidilao's strategy this time can be described as \"survival with a broken arm\", which should be a more correct approach, and Haidilao does not have much room for expansion in the future.</p><p>From the current point of view, the red sea of hot pot track is churning, and high-end and segmentation have become trends.</p><p>According to the report \"China Catering Big Data 2020\", with the development of the industry and the improvement of residents' disposable income level, the number of stores with a unit price of 120 yuan and above in hot pot restaurants across the country is relatively small, but it is growing rapidly, while the number of stores with a unit price of 30 yuan and below has experienced negative growth in all tier cities.</p><p>Among them, the competition of leading hot pot brands is more intense.</p><p><a href=\"https://laohu8.com/S/00520\">Xiabuxiabu</a>Its high-end hot pot brand Coucou has developed particularly rapidly in recent years and has become a strong rival of Haidilao in the future development path.<b>Taking the per capita consumption on Dianping as an example, if you search for Coucou Hot Pot in Shanghai, the price range is 150-170 yuan, and the price range of Haidilao is 100-150 yuan. In terms of unit price, Coucou Hotpot has exceeded the price of Haidilao.</b></p><p><img src=\"https://static.tigerbbs.com/feaef3a3216232fae7d71ad90cfb1153\" tg-width=\"506\" tg-height=\"379\" referrerpolicy=\"no-referrer\"/></p><p>Credit: Canned Gallery</p><p>In terms of service, at the end of 2020, Coucou launched the country's first new model store of \"hot pot + tavern + tea\", selling hot pot at noon, milk tea in the afternoon, and turning it into a bar at night. The \"disco dance\" in hot pot restaurants directly benchmarks Haidilao's \"hair washing\" and \"manicure\" in hot pot restaurants. Haidilao has always been known for its \"good service\", and Coucou's differentiated service form has found the possibility of replacing \"Haidilao-style service\".</p><p>At the same time, brand rookies appeared one after another to divide up the cake.</p><p>In August 2021,<b>Brother Zhou Hotpot received hundreds of millions of yuan in Series A financing from Black Ant Capital; Banu Maodu Hotpot also stated that it will complete a new round of financing of over 500 million yuan, led by CPE Yuanfeng Capital, followed by Richu Capital, Gaorong Capital, and Tomato Capital.</b></p><p>However, some analysts pointed out that Haidilao still has potential room for growth-it will continue to expand horizontally around the hot pot scene.</p><p>At present, Haidilao has built a hot pot ingredient supermarket, ready-made food, fast food, and has also opened a \"milk tea shop\". At the end of last year, Haidilao launched 7 products of pot bottoms, dishes and snacks, and plans to launch new products at least twice a year.</p><p>It is worth noting that as of the end of June 2021, Haidilao still has 3.5 billion yuan in cash and cash equivalents, which will undoubtedly increase the possibility and confidence of Haidilao's horizontal expansion.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/84HYmFZYuOiBM4wbOe9-Ug\">野马财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/23f2c25e060d113f3768c45cafc16292","relate_stocks":{"BK1583":"高瓴概念","BK1233":"餐馆","BK1604":"节假日概念","BK1589":"北水核心资产","06862":"海底捞","BK1591":"就地过年概念"},"source_url":"https://mp.weixin.qq.com/s/84HYmFZYuOiBM4wbOe9-Ug","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1120506339","content_text":"海底捞将遭遇上市以来首次亏损。2月21日，海底捞发布盈利预警——2021年全年预计亏损38亿元至45亿元。财报显示，2018年至2020年，海底捞的净利润分别为16.46亿元、23.45亿元、3.09亿元，合计约43亿元。也就是说，在2021年上半年还盈利9452.9万元的海底捞，仅半年时间就几乎亏光了上市三年的利润。针对亏损原因，海底捞称，2021年关闭了300多家餐厅，以及餐厅业绩下滑等因素，导致的处置长期资产（房屋、设备等）的一次性损失、减值损失等合计约33亿元至39亿元。此外，海底捞还提到了疫情、快速扩张，以及内部管理问题带来的影响。海底捞盈利大幅下跌，敏锐的资本市场对于曾经“餐饮界神话”的态度也与此同凉。截至2月22日收盘，海底捞报18.92港元/股，总市值1055亿港元（约合人民币857.37亿元）。而2021年2月，海底捞股价达到历史高峰85.75港元/股，总市值一度接近4700亿港元（约合人民币3819.58亿元）。对比来看，海底捞一年内就蒸发了将近3000亿元。曾经的海底捞凭借高质量的服务，一度成为“现象级”的存在，更在上市前，就靠着百亿营收，被称为餐饮界的“航母”。如今的海底捞不仅遭遇盈利、股价大幅下滑，还不断陷入涨价、缺斤少两，甚至食品安全的舆论之中。海底捞究竟是撇去了泡沫，还是要跌入海底？紧急刹车关闭1/5门店海底捞近年来扩张速度有多快？截至上市前的2017年，海底捞创立23年，门店总数仅有273家门店。上市后，海底捞开始加速扩张——2018年净增加门店193家；2019新开308家；2020年疫情之下继续扩张544家；2021年上半年再度新增299家。快速扩张策略刺激着二级市场投资人的神经。自2018年9月26日上市以来，海底捞股价从发行价为17.8港元/股，至2021年2月，创下历史新高的85.75港元/股，总市值曾一度接近4700亿港元。海底捞创始人张勇夫妇及二把手施永宏于2020年5月6日以每股33.2港元的价格配售7050万股股份，合计套现23.4亿元。2021年11月，海底捞突然主动刹车，宣布逐步关停300家左右经营未达预期门店，其中部分门店将暂时休整、择机重开，休整周期最长不超过两年。对于关店原因海底捞称，计划关停的门店经营未达预期是2019年制定的快速扩张策略导致。具体包括部分门店选址错误、组织结构改变让管理人员过于疲惫，优秀经理数量不足，过度相信连住利益的KPI指标，以及企业文化建设不足。截至2021年6月30日，海底捞全球门店数达到1597家。关闭300家店铺，意味着海底捞的门店数量将减少1/5。图片来源：罐头图库断臂求生的背后，海底捞困在“增收不增利”的乌云中。公告显示，海底捞2021年收入预计超过人民币400亿元，对比2020年收入约为人民币286亿元，增长超过40%。营收创历史新高，净利润却预计亏损38亿元至45亿元，这背后的原因和翻台率密切相关。翻台率是指一家餐厅一天内每张桌子的平均使用次数，是餐饮行业公认的核心数据，直接关系到餐厅的收入，也直接反映客户对餐厅的喜爱度。2018年，海底捞服务1.6亿人次，平均翻台率5.2次/天，几乎创下了餐饮界的最高翻台率。但近年来，海底捞的翻台率却出现连续下滑。2019年、2020年海底捞的翻台率分别为4.8次/天、3.5次/天，2021年直接降到3次/天。资本市场的热捧，和坊间的口碑并不成正比。据不完全统计，海底捞2021年登上热搜的次数已经超过35次，而且负面话题偏多，比如“海底捞牛肉粒变素了”“郑州海底捞72元200克毛肚实际只有138克”等等。2021年11月1日晚间，话题“海底捞豆花过期被罚款2万”还登上热搜榜首位。增收难增利的情况下，海底捞的招牌品质“缩水”，口碑下降或影响食客光顾，陷入恶性循环。“师徒制”失速早在2021年年初，多家媒体报道了北京海底捞门店的“歇业潮”现象。其主要原因便是选址不当导致。据财经网报道，知情人士透露，“其实海底捞去年（2020年）的店铺签约了600多家，实际只开了300多家，海底捞放低了开店标准，但现在已经发现了‘失速’，最近对部分不乐观的店面叫停。”该知情人士同时表示，“三里屯到悠唐也就4.4公里，这个范围内，有SOHO店、3.3店、华普商厦店、日坛店，以及装修中的悠唐店等近6个店铺。对于走正餐的餐饮品牌而言，一般三公里内都不倾向开两家店。”一般而言，一个品牌的店铺选址主要由开发拓展人员主导。而在海底捞，目前负责店铺选址的则是店长，即“师父”。一直以来，“师徒制”都是海底捞在业界引以为傲的管理手段。图片来源：罐头图库根据海底捞的招股书显示，作为师父的店长的薪酬除了基本薪金外，还可获得以下两种选项中较高者的财务奖励：A：其管理餐厅利润的2.8%；B：自身餐厅利润0.4%+徒弟餐厅数量*徒弟餐厅利润3.1%+徒孙餐厅数量*徒孙餐厅利润1.5%以自身餐厅每月100万利润为例，则店长如果只干好自己的餐厅，则可得到2.8万的奖金；但是如果店长带出了2个徒弟店（每月利润也为100万），则店长仅徒弟店的利润分成就可达到2*100*3.1%=6.2万。在这样的薪酬结构下，曾造就海底捞店长最高年薪600万元的财富神话。也正是在“师徒制”管理模式的驱动下，才有了目前门店数量如此庞大的海底捞“帝国”。此前有市场声音认为：“海底捞不是靠服务起家，它的机密是‘传销’，是师徒制 。”2020年年底，海底捞执行董事、首席战略官周兆呈曾公开肯定了“师徒制”对于门店选址的益处。“当师父带着徒弟拓店时，他一定会尽最大努力选一个商业潜力最大、回报率最高的新店址。但如果只是拓展专员决定，则很有可能因为无需对未来的运营负责，而出现错误选址的风险。这两者之间的概率是很不同的。”2021年6月，在海底捞股东周年大会上，董事长张勇曾公开反思，承认在2020年6月作出门店扩张的决定是错误的。2021年11月5日发布公告中，海底捞再次承认因为快速扩张策略导致的“部分门店选址出现失误”的现象，究其根因，便是令人上头的”师徒制“开店利益链。学费没白交关店同时，海底捞宣布开展“啄木鸟”计划，持续关注经营业绩不佳门店，强化内部管理和考核机制，收缩业务扩张。在公司经营状况全面改善前，公司将适时收缩集团的业务扩张计划，平均翻台率未达到4次/天，原则上不会规模化开设新的分店。可以看出海底捞已经意识到了经济低迷及疫情时期的逆势扩张存在极高风险，同时自身的管理模式有待改善。这一次，学费没有白交。不过，接下来海底捞何去何从？食品产业分析师朱丹蓬认为，综合来看，这次海底捞的策略可谓“断臂求生”，应该是比较正确的做法，而未来海底捞已没有太大的扩张空间。就目前来看，火锅赛道红海翻腾，高端化、细分化已成为趋势。《中国餐饮大数据2020》报告显示，随着行业发展以及居民可支配收入水平提高，当下在全国火锅店中，客单价120元及以上的门店数量虽然占比较小，但增长迅猛，而客单价30元及以下门店数在各线城市中都出现了负增长。其中，头部火锅品牌的竞争则更为激烈。呷哺呷哺旗下高端火锅品牌凑凑近年来发展尤为迅猛，成为海底捞接下来发展道路上的劲敌。以大众点评上的人均消费为例，搜索上海地区的凑凑火锅，价格区间在150-170元，海底捞的价格区间在100-150元。客单价上，凑凑火锅已经超出海底捞价位。图片来源：罐头图库服务上，2020年年底，凑凑推出全国首家“火锅＋酒馆＋茶饮”新模式店，中午卖火锅、下午卖奶茶、晚上摇身一变为酒吧。在火锅店里“蹦迪”直接对标了海底捞的在火锅店里“洗头”、“美甲”。海底捞一直以来以“服务好”闻名，而凑凑差异化的服务形态则为取代“海底捞式服务”找到可能。与此同时，品牌新秀相继亮相，瓜分蛋糕。2021年8月，周师兄火锅获得来自黑蚁资本数亿元的A轮融资；巴奴毛肚火锅也表示，将完成超5亿元新一轮融资，由CPE源峰资本领投，日初资本、高榕资本、番茄资本跟投。不过，也有分析指出，海底捞仍有潜在的增长空间——围绕火锅场景继续横向拓展。目前，海底捞做了火锅食材超市、预制菜、速食品，还开了“奶茶铺”。去年底，海底捞推出锅底、菜品和小吃7款产品，计划一年至少上新两次。值得注意的是，截至2021年6月底，海底捞仍有35亿元现金及现金等价物，这些无疑会增加海底捞横向拓展更多的可能性和底气。","news_type":1,"symbols_score_info":{"06862":0.9}},"isVote":1,"tweetType":1,"viewCount":2153,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9030055023,"gmtCreate":1645584588382,"gmtModify":1676534042967,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"htmlText":"Gg","listText":"Gg","text":"Gg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9030055023","repostId":"2213963135","repostType":4,"isVote":1,"tweetType":1,"viewCount":2210,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9091475137,"gmtCreate":1643935605952,"gmtModify":1676533873269,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"htmlText":"I","listText":"I","text":"I","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9091475137","repostId":"1103200225","repostType":4,"isVote":1,"tweetType":1,"viewCount":1775,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9007472620,"gmtCreate":1642993141970,"gmtModify":1676533763265,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"htmlText":"Hhhhh","listText":"Hhhhh","text":"Hhhhh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9007472620","repostId":"1155413027","repostType":4,"repost":{"id":"1155413027","kind":"news","pubTimestamp":1642991287,"share":"https://ttm.financial/m/news/1155413027?lang=en_US&edition=fundamental","pubTime":"2022-01-24 10:28","market":"sh","language":"zh","title":"The Spring Festival is approaching, hold shares or currency","url":"https://stock-news.laohu8.com/highlight/detail?id=1155413027","media":"方正证券","summary":"春节又将临近，每逢此时，市场上总是兴起一股关于是持币过年还是持股过年的讨论。为此本文统计回顾了2010年至2021年春节前后A股市场的表现情况，供投资者参考。A股春节效应显著，节前节后市场上涨概率大，","content":"<p><html><head></head><body>The Spring Festival is approaching again. At this time, there is always a discussion in the market about whether to hold currency or shares for the New Year. For this reason, this article statistically reviews the performance of the A-share market around the Spring Festival from 2010 to 2021 for investors' reference.</p><p><b>The A-share Spring Festival effect is significant, and the probability of the market rising before and after the holiday is high. In the past ten years, the A-share market Spring Festival red envelopes have obvious characteristics of low risk and high return.</b>From the perspective of the increase, in the past 12 years, the average cumulative rate of return of wind All A in the five trading days before the Spring Festival was 1.9%, the median was 2.6%, and the average cumulative rate of return in the five trading days after the Spring Festival was 1.4%, the median was 1.8%. Moreover, the market performance during the Spring Festival over the years is significantly more stable than that of the whole year. That is to say, compared with the overall increase of the whole year, the market red envelope during the Spring Festival has significant characteristics of low risk and high return.</p><p><b>In contrast, the Shenzhen Component Index and the ChiNext Index performed better than the Shanghai Composite Index, and small and medium-cap stock indexes such as the CSI 500 and CSI 1000 were better than heavyweight indexes such as the SSE 50 and CSI 300.</b>In terms of the increase rate, the median cumulative return rate of the GEM index in the past 12 years before/after the Spring Festival was 2.4% and 4.1% respectively, and that of the Shanghai Composite Index was 1.4% and 0.9%. The median cumulative returns of the China Securities 2000 Index in the past 12 years in the five trading days before/after the Spring Festival were 2.0% and 4.4% respectively, while that of the Shanghai and Shenzhen 300 Index was 1.9% and 0.6%.</p><p><b>Judging from the performance of various industries, Shenwan's first-level industries generally have a high probability of closing up around the Spring Festival, and non-ferrous metals, electronics, computers and other sectors performed relatively well.</b>The non-ferrous metal sector saw a median increase of 3.4% in the first five trading days of the Spring Festival between 2010 and 2021, the best performer among all sectors. Looking at the five trading days after the Spring Festival, the median cumulative increase is still the best performer in the nonferrous industry, at 5.2%. In addition, the comprehensive performance of electronics, computer and other industries before and after the holiday is also good.</p><p><b>Judging from the performance of various style indexes, the major style indexes also have a high probability of closing up before and after the Spring Festival, and the high P/E style is better than the low P/E style, the high-priced stock style is better than the low-priced stock style, and the loss-making and low-profit stock style is better than the blue-chip stock.</b>The median cumulative increase of high P/E stock styles in the five trading days before/after the Spring Festival from 2010 to 2021 is 2.5% and 3.4% respectively, which is better than the 1.9% and 0.6% of low P/E stocks. The median cumulative increase of high-priced stock styles in the past 10 years before/after the Spring Festival was 3.3% and 1.6% respectively, which was better than the 1.1% and 2.4% of low-priced stocks. The median cumulative increase of the loss-making stock style in the past 10 years before/after the Spring Festival was 2.3% and 4.2% respectively, which was better than the 2.5% and 0.6% of blue-chip stocks as a whole.</p><p>Risk warning: the macro economy is less than expected, overseas markets fluctuate greatly, and historical experience does not represent the future.</p><p>The body is as follows:</p><p>Holding shares or holding currency, sorting out the market characteristics before and after the Spring Festival</p><p>The Spring Festival is approaching again. At this time, there is always a discussion in the market about whether to hold currency or shares for the New Year. For this reason, this paper statistically reviews the performance of the A-share market around the Spring Festival in the past ten years for investors' reference.</p><p>1. The Spring Festival effect of A-shares is significant, and the probability of market rising before and after the holiday is high</p><p>The Spring Festival effect of A-shares is significant, and the probability of market rise before and after the holiday is relatively high. We have summarized the performance of yields in the five trading days before and after the Spring Festival from 2010 to 2021. Overall, the performance of the A-share market before and after the Spring Festival is good in most cases, and the major broad-based indexes The probability of rising is relatively high. In the past 12 years, in 9 years, the cumulative income of wind all A has increased in the 5 trading days before and 5 trading days after the holiday, that is, the probability of rising is as high as 75%. However, in these 12 years, the annual cumulative income of wind all A has only been positive in 8 years, so from the perspective of probability, the performance of A-share market does have a significant Spring Festival effect.</p><p><img src=\"https://static.tigerbbs.com/3ebb634e1fdcb47287f6f64ad921dd0b\" tg-width=\"745\" tg-height=\"473\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>From the perspective of ups and downs, the Spring Festival red envelopes in the A-share market in the past decade or so have significant characteristics of low risk and high return.</b>From the perspective of the increase, in the past 12 years, the average cumulative rate of return of wind All A in the five trading days before the Spring Festival was 1.9%, the median was 2.6%, and the average cumulative rate of return in the five trading days after the Spring Festival was 1.4%, the median was 1.8%. And from the perspective of volatility, the market performance during the Spring Festival over the years is significantly more stable than that of the whole year. That is to say, compared with the overall increase of the whole year, the market red envelope during the Spring Festival has significant characteristics of low risk and high return.</p><p><b>In contrast, the Shenzhen Component Index and the ChiNext Index performed better than the Shanghai Composite Index, and small and medium-cap stock indexes such as the CSI 500 and CSI 1000 were better than heavyweight indexes such as the SSE 50 and CSI 300.</b>In terms of the increase rate, the median cumulative return rate of the GEM index in the past 12 years before/after the Spring Festival was 2.4% and 4.1% respectively, and that of the Shanghai Composite Index was 1.4% and 0.9%. The median cumulative returns of the China Securities 2000 Index in the past 12 years in the five trading days before/after the Spring Festival were 2.0% and 4.4% respectively, while that of the Shanghai and Shenzhen 300 Index was 1.9% and 0.6%.</p><p><img src=\"https://static.tigerbbs.com/582cd2589b619255738cf6d2f570069b\" tg-width=\"772\" tg-height=\"476\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>2. Non-ferrous metals, electronics, and computers perform relatively well</p><p><b>Judging from the performance of various industries, the cumulative closing probability of Shenwan's first-level industries in the five trading days before and after the Spring Festival in the past 10 years is generally above 50%.</b>Judging from the performance of various industries in the five trading days before and after the Spring Festival from 2010 to 2021, in most cases, Shenwan's first-level industries performed better before and after the holiday, and the number of increases was much higher than the number of declines. Among them, the pharmaceutical and biological industry has all risen in the five trading days before the Spring Festival in the past 12 years, with a probability of rising as high as 100%, and a probability of rising as high as 92% in the five trading days after the Spring Festival. In addition, the probability of rising in the two industries of electronic and electrical equipment in the five trading days before and after the holiday is also above 80%.</p><p><b>Judging from the absolute value data of the rise and fall of various industries, the performance of non-ferrous metals, electronics, computer and other sectors before and after the Spring Festival was relatively good, while the performance of the financial sector was relatively low.</b>The non-ferrous metal sector saw a median increase of 3.4% in the first five trading days of the Spring Festival between 2010 and 2021, the best performer among all sectors. Looking at the five trading days after the Spring Festival, the median cumulative increase is still the best performer in the nonferrous industry, at 5.2%. In addition, the comprehensive performance of electronics, computer and other industries before and after the holiday is also good, while the performance of the financial sector is relatively low in both the 5 trading days before and after the holiday.</p><p><img src=\"https://static.tigerbbs.com/19bfbbfde65d4117bf61534eeec75506\" tg-width=\"768\" tg-height=\"476\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><img src=\"https://static.tigerbbs.com/503e1fbb70dea37f1e719bee7cceac27\" tg-width=\"752\" tg-height=\"482\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>3. High P/E is better than low P/E, high-priced stocks are better than low-priced stocks, and low-profit stocks are better than blue-chip stocks</p><p><b>Judging from the performance of various style indexes, the probability of the main style indexes in the A-share market closing up in the five trading days before and after the Spring Festival is generally above 60%.</b>Judging from the performance of various industries in the five trading days before and after the Spring Festival from 2010 to 2021, each style index performed better before and after the holiday, and the number of increases was also much higher than the number of declines. Among them, the probability of the high P/E style index rising in the past 12 years within the 5 trading days before/after the Spring Festival is above 80%.</p><p><b>Judging from the absolute value data of the rise and fall of various style indexes, the high P/E style before and after the Spring Festival is better than the low P/E style, the high-priced stock style is better than the low-priced stock style, and the low-profit stock style is better than the blue-chip stock style.</b>The median cumulative increase of high P/E stock styles in the five trading days before/after the Spring Festival from 2010 to 2021 is 2.5% and 3.4% respectively, which is better than the 1.9% and 0.6% of low P/E stocks. The median cumulative increase of high-priced stock styles in the past 10 years before/after the Spring Festival was 3.3% and 1.6% respectively, which was better than the 1.1% and 2.4% of low-priced stocks. The median cumulative increase of the loss-making stock style in the past 10 years before/after the Spring Festival was 2.3% and 4.2% respectively, which was better than the 2.5% and 0.6% of blue-chip stocks as a whole.</p><p><img src=\"https://static.tigerbbs.com/55520b80f80e1ed42fb553ec3282e634\" tg-width=\"751\" tg-height=\"466\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/><img src=\"https://static.tigerbbs.com/e5464cc2dab3b0eaba26b6ecc77dc615\" tg-width=\"755\" tg-height=\"475\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p></body></html></p>","source":"lsy1583736415415","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Spring Festival is approaching, hold shares or currency</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Spring Festival is approaching, hold shares or currency\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">方正证券</strong><span class=\"h-time small\">2022-01-24 10:28</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>The Spring Festival is approaching again. At this time, there is always a discussion in the market about whether to hold currency or shares for the New Year. For this reason, this article statistically reviews the performance of the A-share market around the Spring Festival from 2010 to 2021 for investors' reference.</p><p><b>The A-share Spring Festival effect is significant, and the probability of the market rising before and after the holiday is high. In the past ten years, the A-share market Spring Festival red envelopes have obvious characteristics of low risk and high return.</b>From the perspective of the increase, in the past 12 years, the average cumulative rate of return of wind All A in the five trading days before the Spring Festival was 1.9%, the median was 2.6%, and the average cumulative rate of return in the five trading days after the Spring Festival was 1.4%, the median was 1.8%. Moreover, the market performance during the Spring Festival over the years is significantly more stable than that of the whole year. That is to say, compared with the overall increase of the whole year, the market red envelope during the Spring Festival has significant characteristics of low risk and high return.</p><p><b>In contrast, the Shenzhen Component Index and the ChiNext Index performed better than the Shanghai Composite Index, and small and medium-cap stock indexes such as the CSI 500 and CSI 1000 were better than heavyweight indexes such as the SSE 50 and CSI 300.</b>In terms of the increase rate, the median cumulative return rate of the GEM index in the past 12 years before/after the Spring Festival was 2.4% and 4.1% respectively, and that of the Shanghai Composite Index was 1.4% and 0.9%. The median cumulative returns of the China Securities 2000 Index in the past 12 years in the five trading days before/after the Spring Festival were 2.0% and 4.4% respectively, while that of the Shanghai and Shenzhen 300 Index was 1.9% and 0.6%.</p><p><b>Judging from the performance of various industries, Shenwan's first-level industries generally have a high probability of closing up around the Spring Festival, and non-ferrous metals, electronics, computers and other sectors performed relatively well.</b>The non-ferrous metal sector saw a median increase of 3.4% in the first five trading days of the Spring Festival between 2010 and 2021, the best performer among all sectors. Looking at the five trading days after the Spring Festival, the median cumulative increase is still the best performer in the nonferrous industry, at 5.2%. In addition, the comprehensive performance of electronics, computer and other industries before and after the holiday is also good.</p><p><b>Judging from the performance of various style indexes, the major style indexes also have a high probability of closing up before and after the Spring Festival, and the high P/E style is better than the low P/E style, the high-priced stock style is better than the low-priced stock style, and the loss-making and low-profit stock style is better than the blue-chip stock.</b>The median cumulative increase of high P/E stock styles in the five trading days before/after the Spring Festival from 2010 to 2021 is 2.5% and 3.4% respectively, which is better than the 1.9% and 0.6% of low P/E stocks. The median cumulative increase of high-priced stock styles in the past 10 years before/after the Spring Festival was 3.3% and 1.6% respectively, which was better than the 1.1% and 2.4% of low-priced stocks. The median cumulative increase of the loss-making stock style in the past 10 years before/after the Spring Festival was 2.3% and 4.2% respectively, which was better than the 2.5% and 0.6% of blue-chip stocks as a whole.</p><p>Risk warning: the macro economy is less than expected, overseas markets fluctuate greatly, and historical experience does not represent the future.</p><p>The body is as follows:</p><p>Holding shares or holding currency, sorting out the market characteristics before and after the Spring Festival</p><p>The Spring Festival is approaching again. At this time, there is always a discussion in the market about whether to hold currency or shares for the New Year. For this reason, this paper statistically reviews the performance of the A-share market around the Spring Festival in the past ten years for investors' reference.</p><p>1. The Spring Festival effect of A-shares is significant, and the probability of market rising before and after the holiday is high</p><p>The Spring Festival effect of A-shares is significant, and the probability of market rise before and after the holiday is relatively high. We have summarized the performance of yields in the five trading days before and after the Spring Festival from 2010 to 2021. Overall, the performance of the A-share market before and after the Spring Festival is good in most cases, and the major broad-based indexes The probability of rising is relatively high. In the past 12 years, in 9 years, the cumulative income of wind all A has increased in the 5 trading days before and 5 trading days after the holiday, that is, the probability of rising is as high as 75%. However, in these 12 years, the annual cumulative income of wind all A has only been positive in 8 years, so from the perspective of probability, the performance of A-share market does have a significant Spring Festival effect.</p><p><img src=\"https://static.tigerbbs.com/3ebb634e1fdcb47287f6f64ad921dd0b\" tg-width=\"745\" tg-height=\"473\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>From the perspective of ups and downs, the Spring Festival red envelopes in the A-share market in the past decade or so have significant characteristics of low risk and high return.</b>From the perspective of the increase, in the past 12 years, the average cumulative rate of return of wind All A in the five trading days before the Spring Festival was 1.9%, the median was 2.6%, and the average cumulative rate of return in the five trading days after the Spring Festival was 1.4%, the median was 1.8%. And from the perspective of volatility, the market performance during the Spring Festival over the years is significantly more stable than that of the whole year. That is to say, compared with the overall increase of the whole year, the market red envelope during the Spring Festival has significant characteristics of low risk and high return.</p><p><b>In contrast, the Shenzhen Component Index and the ChiNext Index performed better than the Shanghai Composite Index, and small and medium-cap stock indexes such as the CSI 500 and CSI 1000 were better than heavyweight indexes such as the SSE 50 and CSI 300.</b>In terms of the increase rate, the median cumulative return rate of the GEM index in the past 12 years before/after the Spring Festival was 2.4% and 4.1% respectively, and that of the Shanghai Composite Index was 1.4% and 0.9%. The median cumulative returns of the China Securities 2000 Index in the past 12 years in the five trading days before/after the Spring Festival were 2.0% and 4.4% respectively, while that of the Shanghai and Shenzhen 300 Index was 1.9% and 0.6%.</p><p><img src=\"https://static.tigerbbs.com/582cd2589b619255738cf6d2f570069b\" tg-width=\"772\" tg-height=\"476\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>2. Non-ferrous metals, electronics, and computers perform relatively well</p><p><b>Judging from the performance of various industries, the cumulative closing probability of Shenwan's first-level industries in the five trading days before and after the Spring Festival in the past 10 years is generally above 50%.</b>Judging from the performance of various industries in the five trading days before and after the Spring Festival from 2010 to 2021, in most cases, Shenwan's first-level industries performed better before and after the holiday, and the number of increases was much higher than the number of declines. Among them, the pharmaceutical and biological industry has all risen in the five trading days before the Spring Festival in the past 12 years, with a probability of rising as high as 100%, and a probability of rising as high as 92% in the five trading days after the Spring Festival. In addition, the probability of rising in the two industries of electronic and electrical equipment in the five trading days before and after the holiday is also above 80%.</p><p><b>Judging from the absolute value data of the rise and fall of various industries, the performance of non-ferrous metals, electronics, computer and other sectors before and after the Spring Festival was relatively good, while the performance of the financial sector was relatively low.</b>The non-ferrous metal sector saw a median increase of 3.4% in the first five trading days of the Spring Festival between 2010 and 2021, the best performer among all sectors. Looking at the five trading days after the Spring Festival, the median cumulative increase is still the best performer in the nonferrous industry, at 5.2%. In addition, the comprehensive performance of electronics, computer and other industries before and after the holiday is also good, while the performance of the financial sector is relatively low in both the 5 trading days before and after the holiday.</p><p><img src=\"https://static.tigerbbs.com/19bfbbfde65d4117bf61534eeec75506\" tg-width=\"768\" tg-height=\"476\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><img src=\"https://static.tigerbbs.com/503e1fbb70dea37f1e719bee7cceac27\" tg-width=\"752\" tg-height=\"482\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>3. High P/E is better than low P/E, high-priced stocks are better than low-priced stocks, and low-profit stocks are better than blue-chip stocks</p><p><b>Judging from the performance of various style indexes, the probability of the main style indexes in the A-share market closing up in the five trading days before and after the Spring Festival is generally above 60%.</b>Judging from the performance of various industries in the five trading days before and after the Spring Festival from 2010 to 2021, each style index performed better before and after the holiday, and the number of increases was also much higher than the number of declines. Among them, the probability of the high P/E style index rising in the past 12 years within the 5 trading days before/after the Spring Festival is above 80%.</p><p><b>Judging from the absolute value data of the rise and fall of various style indexes, the high P/E style before and after the Spring Festival is better than the low P/E style, the high-priced stock style is better than the low-priced stock style, and the low-profit stock style is better than the blue-chip stock style.</b>The median cumulative increase of high P/E stock styles in the five trading days before/after the Spring Festival from 2010 to 2021 is 2.5% and 3.4% respectively, which is better than the 1.9% and 0.6% of low P/E stocks. The median cumulative increase of high-priced stock styles in the past 10 years before/after the Spring Festival was 3.3% and 1.6% respectively, which was better than the 1.1% and 2.4% of low-priced stocks. The median cumulative increase of the loss-making stock style in the past 10 years before/after the Spring Festival was 2.3% and 4.2% respectively, which was better than the 2.5% and 0.6% of blue-chip stocks as a whole.</p><p><img src=\"https://static.tigerbbs.com/55520b80f80e1ed42fb553ec3282e634\" tg-width=\"751\" tg-height=\"466\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/><img src=\"https://static.tigerbbs.com/e5464cc2dab3b0eaba26b6ecc77dc615\" tg-width=\"755\" tg-height=\"475\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3650467\">方正证券</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":{"000001.SH":"上证指数"},"source_url":"https://wallstreetcn.com/articles/3650467","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155413027","content_text":"春节又将临近，每逢此时，市场上总是兴起一股关于是持币过年还是持股过年的讨论。为此本文统计回顾了2010年至2021年春节前后A股市场的表现情况，供投资者参考。A股春节效应显著，节前节后市场上涨概率大，且过去十多年A股市场春节红包具有显著的低风险高收益的特征。从上涨幅度来看，过去12年wind全A在春节前5个交易日里的累计收益率均值是1.9%，中位数是2.6%，春节后5个交易日里的累计收益率均值是1.4%，中位数是1.8%。并且历年春节期间的市场表现相比全年明显更为稳定，也就是说与全年整体涨幅相比，春节期间的市场红包具有显著的低风险高收益的特征。对比之下，深证成指、创业板指表现好于上证综指，中证500、中证1000等中小盘股指数好于上证50、沪深300等权重股指数。从上涨幅度来看，过去12年创业板指在春节前/后5个交易日里的累计收益率中位数分别为2.4%和4.1%，上证综指为1.4%和0.9%。国证2000指数过去12年在春节前/后5个交易日里的累计收益率中位数分别为2.0%和4.4%，而沪深300指数为1.9%和0.6%。从各行业表现情况来看，申万各一级行业在春节前后普遍大概率收涨，且有色、电子、计算机等板块表现相对较好。有色金属板块在2010年至2021年间春节前5个交易日涨幅中位数达3.4%，在所有板块中表现最佳。春节后5个交易日来看，累计涨幅中位数上依然是有色行业表现最佳，为5.2%。此外电子、计算机等行业节前节后综合表现同样较好。从各风格指数表现情况来看，各主要风格指数在春节前后同样收涨概率较大，且高市盈率风格好于低市盈率、高价股风格好于低价股、亏损微利股风格好于绩优股。高市盈率股风格在2010年至2021年间春节前/后5个交易日累计涨幅中位数分别为2.5%和3.4%，好于低市盈率股的1.9%和0.6%。高价股风格近10多年春节前/后5个交易日累计涨幅中位数分别为3.3%和1.6%，好于低价股的1.1%和2.4%。亏损股风格近10多年春节前/后5个交易日累计涨幅中位数分别为2.3%和4.2%，整体好于绩优股的2.5%和0.6%。风险提示：宏观经济不及预期、海外市场大幅波动、历史经验不代表未来。正文如下：持股还是持币，春节前后行情特征梳理春节又将临近，每逢此时，市场上总是兴起一股关于是持币过年还是持股过年的讨论。为此本文统计回顾了过去十多年春节前后A股市场的表现情况，供投资者参考。1. A股春节效应显著，节前节后市场上涨概率大A股春节效应显著，节前节后市场上涨概率均比较高。我们对2010年至2021年历年春节节前和节后5个交易日收益率表现情况进行了汇总，总体来看，A股市场在春节前后的表现多数情况下还是不错的，各大宽基指数上涨概率均比较高。在过去的12年中，有9年wind全A在节前5个交易日和节后5个交易日内累计收益均是上涨的，即上涨概率高达75%，而这12年中wind全A仅有8年的年度累计收益为正，因此从概率的角度看，A股市场表现确实存在着较为显著的春节效应。从涨跌幅来看，过去十多年A股市场春节红包具有显著的低风险高收益的特征。从上涨幅度来看，过去12年wind全A在春节前5个交易日里的累计收益率均值是1.9%，中位数是2.6%，春节后5个交易日里的累计收益率均值是1.4%，中位数是1.8%。并且从波动性来看，历年春节期间的市场表现相比全年明显更为稳定，也就是说与全年整体涨幅相比，春节期间的市场红包具有显著的低风险高收益的特征。对比之下，深证成指、创业板指表现好于上证综指，中证500、中证1000等中小盘股指数好于上证50、沪深300等权重股指数。从上涨幅度来看，过去12年创业板指在春节前/后5个交易日里的累计收益率中位数分别为2.4%和4.1%，上证综指为1.4%和0.9%。国证2000指数过去12年在春节前/后5个交易日里的累计收益率中位数分别为2.0%和4.4%，而沪深300指数为1.9%和0.6%。2. 有色、电子、计算机表现相对占优从各行业表现情况来看，近10多年申万各一级行业在春节前后5个交易日里累计收涨概率普遍在50%之上。从2010年至2021年各行业春节前后5个交易日表现来看，多数情况下，申万一级行业在节前节后的表现较好，上涨次数远高于下跌次数。其中，医药生物行业过去12年内在春节节前5个交易日全部是上涨的，上涨概率高达100%，在春节节后5个交易日上涨概率同样高达92%。此外电子和电气设备两个行业节前节后5个交易日上涨概率也均在80%之上。从各行业涨跌幅的绝对值数据来看，春节前后有色、电子、计算机等板块的表现相对较好，而金融板块表现较为靠后。有色金属板块在2010年至2021年间春节前5个交易日涨幅中位数达3.4%，在所有板块中表现最佳。春节后5个交易日来看，累计涨幅中位数上依然是有色行业表现最佳，为5.2%。此外电子、计算机等行业节前节后综合表现同样较好，而金融板块无论是在节前5个交易日还是节后5个交易日表现均较为靠后。3. 高市盈率好于低市盈率、高价股好于低价股、亏损微利股好于绩优股从各风格指数表现情况来看，A股市场主要风格指数在春节前后5个交易日里累计收涨的概率普遍在60%之上。从2010年至2021年各行业春节前后5个交易日表现来看，各风格指数在节前节后的表现较好，上涨次数同样远高于下跌次数。其中，高市盈率风格指数过去12年内在春节节前/后5个交易日内上涨概率均在80%以上。从各风格指数涨跌幅的绝对值数据来看，春节前后高市盈率风格好于低市盈率、高价股风格好于低价股、亏损微利股风格好于绩优股。高市盈率股风格在2010年至2021年间春节前/后5个交易日累计涨幅中位数分别为2.5%和3.4%，好于低市盈率股的1.9%和0.6%。高价股风格近10多年春节前/后5个交易日累计涨幅中位数分别为3.3%和1.6%，好于低价股的1.1%和2.4%。亏损股风格近10多年春节前/后5个交易日累计涨幅中位数分别为2.3%和4.2%，整体好于绩优股的2.5%和0.6%。","news_type":1,"symbols_score_info":{"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":1646,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886539728,"gmtCreate":1631603333564,"gmtModify":1676530587348,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"htmlText":"Hh","listText":"Hh","text":"Hh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/886539728","repostId":"1159330352","repostType":4,"isVote":1,"tweetType":1,"viewCount":1866,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886539875,"gmtCreate":1631603311797,"gmtModify":1676530587333,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"htmlText":"Jj","listText":"Jj","text":"Jj","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/886539875","repostId":"2167535043","repostType":4,"repost":{"id":"2167535043","kind":"highlight","pubTimestamp":1631591227,"share":"https://ttm.financial/m/news/2167535043?lang=en_US&edition=fundamental","pubTime":"2021-09-14 11:47","market":"us","language":"zh","title":"U.S. stocks also need to switch styles? JPMorgan Chase: Lighten up positions in technology and increase positions procyclically!","url":"https://stock-news.laohu8.com/highlight/detail?id=2167535043","media":"华尔街见闻","summary":"自从美国经济复苏猛踩刹车以来，资金一度涌入科技股寻求庇护，但摩根大通却认为，是时候减仓科技股了。\n摩根大通Marko Kolanovic等分析师近日表示，市场对经济增长的恐慌有些过度了，Delta变种","content":"<p>Money once poured into tech stocks for refuge since the U.S. economic recovery slammed on the brakes, but<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>But I think it's time to lighten up my position in technology stocks.</p><p>Analysts such as Marko Kolanovic of JPMorgan Chase recently said that the market's panic about economic growth is a bit excessive, and the drag on the economy by the Delta variant virus may only be temporary. Investors should consider reducing investment in technology stocks while increasing their holdings of energy and other impacts on the economy. Sensitive cyclical industries.</p><p>Although the pace of global economic reopening has been delayed with the resurgence of the epidemic, data from JPMorgan Chase shows that the epidemic caused by the Delta variant of the virus may have peaked and is receding in the United States and globally:</p><p>We expect reflation to trade outperform as Delta impacts recede and inflation driven by supply disruptions and monetary easing continues. JPMorgan believes bond yields and cyclical assets may have bottomed out early last month, while recommending overweight of Japanese and emerging market stocks.</p><p>JPMorgan's judgment on the economy is in stark contrast to other investment banks.</p><p>Earlier this month,<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>In less than March, it lowered its U.S. GDP forecast for this year for the third time. The bank predicts that due to the raging novel coronavirus pneumonia variant of the Delta virus, weakening government financial support, and the shift of demand from goods to services, U.S. consumers may reduce spending, and the consumption situation is more severe than previously expected.</p><p><a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>It also significantly lowered the U.S. GDP forecast for the third quarter, from 6.5% to only 2.9%, and the GDP forecast for the fourth quarter remained at 6.7%. After revising down the third quarter GDP forecast, Morgan Stanley's U.S. GDP growth forecast for this year is 5.6%, which is lower than Goldman Sachs' full-year growth forecast after this week's downward adjustment.</p><p>Morgan Stanley said that the reduction in expectations is mainly due to the early release of the driving force of economic growth, the reduction of government stimulus spending on the economy, and the continued drag of supply chain bottlenecks on the economy, resulting in a reduction in consumer spending on large durable goods such as automobiles.</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>U.S. stocks also need to switch styles? 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JPMorgan Chase: Lighten up positions in technology and increase positions procyclically!\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\">2021-09-14 11:47</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Money once poured into tech stocks for refuge since the U.S. economic recovery slammed on the brakes, but<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>But I think it's time to lighten up my position in technology stocks.</p><p>Analysts such as Marko Kolanovic of JPMorgan Chase recently said that the market's panic about economic growth is a bit excessive, and the drag on the economy by the Delta variant virus may only be temporary. Investors should consider reducing investment in technology stocks while increasing their holdings of energy and other impacts on the economy. Sensitive cyclical industries.</p><p>Although the pace of global economic reopening has been delayed with the resurgence of the epidemic, data from JPMorgan Chase shows that the epidemic caused by the Delta variant of the virus may have peaked and is receding in the United States and globally:</p><p>We expect reflation to trade outperform as Delta impacts recede and inflation driven by supply disruptions and monetary easing continues. JPMorgan believes bond yields and cyclical assets may have bottomed out early last month, while recommending overweight of Japanese and emerging market stocks.</p><p>JPMorgan's judgment on the economy is in stark contrast to other investment banks.</p><p>Earlier this month,<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>In less than March, it lowered its U.S. GDP forecast for this year for the third time. The bank predicts that due to the raging novel coronavirus pneumonia variant of the Delta virus, weakening government financial support, and the shift of demand from goods to services, U.S. consumers may reduce spending, and the consumption situation is more severe than previously expected.</p><p><a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>It also significantly lowered the U.S. GDP forecast for the third quarter, from 6.5% to only 2.9%, and the GDP forecast for the fourth quarter remained at 6.7%. After revising down the third quarter GDP forecast, Morgan Stanley's U.S. GDP growth forecast for this year is 5.6%, which is lower than Goldman Sachs' full-year growth forecast after this week's downward adjustment.</p><p>Morgan Stanley said that the reduction in expectations is mainly due to the early release of the driving force of economic growth, the reduction of government stimulus spending on the economy, and the continued drag of supply chain bottlenecks on the economy, resulting in a reduction in consumer spending on large durable goods such as automobiles.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3640337\">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/4ecccb954c9a03cd26d576ebec5c96d6","relate_stocks":{"JPM":"摩根大通"},"source_url":"https://wallstreetcn.com/articles/3640337","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2167535043","content_text":"自从美国经济复苏猛踩刹车以来，资金一度涌入科技股寻求庇护，但摩根大通却认为，是时候减仓科技股了。\n摩根大通Marko Kolanovic等分析师近日表示，市场对经济增长的恐慌有些过度了，Delta变种病毒对经济的拖累可能只是暂时的，投资者应考虑减少对科技股的投资，同时增持能源等对经济敏感的周期性行业。\n尽管随着疫情复燃，全球经济重新开放的步伐被推迟了，但摩根大通的数据显示，由Delta变种病毒导致的疫情可能已经达到顶峰，在美国和全球范围内正在消退：\n\n 随着Delta影响消退，且由供应中断和货币宽松导致的通胀持续，我们预计再通胀交易表现将优于大盘。\n\n摩根大通认为，债券收益率和周期性资产可能已经在上月初触底，同时建议增持日本和新兴市场股票。\n摩根大通对经济的判断与其他投行形成鲜明对比。\n本月初，高盛在不到三月里，第三次下调今年美国GDP预期，该行预计由于新冠肺炎变种病毒德尔塔（Delta）病毒肆虐、政府的财政支持在减弱，加之需求从商品转换到服务，美国消费者可能减少支出，消费形势比之前预期的更严峻。\n摩根士丹利也大幅下调了三季度美国GDP预期，从6.5%猛砍至仅2.9%，四季度GDP预期维持在6.7%。下修三季度GDP预期后，摩根士丹利的美国今年全年GDP增速预期为5.6%，比高盛本周调降后的全年预期增速还低。\n摩根士丹利称，调降预期主要由于经济增长的动力已提前释放，政府刺激性支出对经济的推动减少，加之供应链瓶颈持续拖累经济，汽车等大件耐用品的消费者支出由此减少。","news_type":1,"symbols_score_info":{"JPM":0.9}},"isVote":1,"tweetType":1,"viewCount":2035,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886530037,"gmtCreate":1631603216129,"gmtModify":1676530587288,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"htmlText":"Jjjjj","listText":"Jjjjj","text":"Jjjjj","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/886530037","repostId":"2167539748","repostType":4,"repost":{"id":"2167539748","kind":"highlight","pubTimestamp":1631597712,"share":"https://ttm.financial/m/news/2167539748?lang=en_US&edition=fundamental","pubTime":"2021-09-14 13:35","market":"us","language":"zh","title":"Can GoPro, which supports half of the sports world, still eat all over the world with one move?","url":"https://stock-news.laohu8.com/highlight/detail?id=2167539748","media":"雷科技","summary":"喝最冷的红牛，拍最酷的镜头。","content":"<p>With the propaganda concept of \"I pay, you die\" and all kinds of fancy challenge advertisements, Red Bull, a beverage company that originally only sold sugar water in Europe, has become half the sky in the outdoor sports market. From double boarding to skydiving, to F1 racing or aerobatics, we can always see the Red Bull LOGO in these adrenaline-stimulating sports. Then the question is, since Red Bull supports half of the extreme sports, who supports the other half?<img src=\"https://static.tigerbbs.com/c686f633943c97407bf4f28447111c4f\" tg-width=\"1080\" tg-height=\"539\" referrerpolicy=\"no-referrer\"></p><p>In my opinion, this position makes the action camera brand<a href=\"https://laohu8.com/S/GPRO\">GoPro</a>It can be said that you deserve to come and sit.</p><p><h2>GoPro defines the action camera</h2>GoPro was first born in 2004, when Nick Woodman, an American boy under 30 years old, developed his first action camera with the support of his parents because he couldn't find a good and cheap camera to shoot himself surfing. No one expected that this seemingly I love to invent sports camera concept suddenly touched extreme sports enthusiasts all over the world.</p><p><img src=\"https://static.tigerbbs.com/d108fda3d2509c32cc94c19035cbe1a8\" tg-width=\"1080\" tg-height=\"675\" referrerpolicy=\"no-referrer\"></p><p>With sports cameras as the core, in more than ten years of development, GoPro has successfully built GoPro Hero, a world-famous sports camera brand. With the strong support of outdoor sports enthusiasts around the world, GoPro has also been promoted from a small family-funded brand to a Nasdaq-listed company with a market value of US $1.471 billion.</p><p>Such market performance can't help but make people wonder: Everyone says that the camera market is shrinking year by year. Why can GoPro, which focuses on segmented fields, go upstream and establish its unshakable position in the field of sports cameras with a single product line?</p><p><h2>Start with athletes, empower athletes</h2>First of all, GoPro is a product with a very clear positioning. Just like game peripheral brands<a href=\"https://laohu8.com/S/01337\">Razer</a>GoPro was also born in the hands of athletes, or surfers, just as the slogan begins with players, by gamers. As a target user in this field, Nick Woodman knows exactly what kind of action camera he needs and other surfers need, which naturally allows GoPro to reach the pain points of users.</p><p>At the same time, focusing on segments is also the reason why GoPro can gain a firm footstep in the shrinking wave of the camera market. Unlike other wide-spreading camera brands, GoPro has focused on the highly segmented field of expertise of action cameras for the past ten years. Although the field of mass consumption can bring a larger potential user group to the brand, it is difficult for the brand to cultivate the consumption habits of a large number of users at the same time.</p><p><img src=\"https://static.tigerbbs.com/884409df3570d4553b8c7bf10a6e63f5\" tg-width=\"1080\" tg-height=\"783\" referrerpolicy=\"no-referrer\">Instead of letting everyone GoPro come back to record their lives, it's better to promote it to professional users. The high threshold of action cameras filters out potential competitors of GoPro, and the record behind action cameras just needs to provide a huge market for GoPro. Unlike mass consumers, professional users have higher brand loyalty when purchasing sports accessories, which also allows GoPro to stabilize its fundamentals while the camera market is shrinking.</p><p>But this is not the main reason why GoPro can go all the way to now. In my opinion, it is GoPro's marketing that really laid half of GoPro's foundation. Just like Red Bull, in order to increase exposure, GoPro tries its best to get on every occasion that can bring exposure. The words GoPro and the four-color square logo also appeared all over the country along with athletes, strengthening the public's awareness of the GoPro sports brand.<img src=\"https://static.tigerbbs.com/30ec9060d44a4d58edabdc3165ce38c8\" tg-width=\"1080\" tg-height=\"489\" referrerpolicy=\"no-referrer\">Just like the Red Bull with LOGO as its totem, whether in the French Alps or the Grand Canyon in the United States, the pattern composed of four blue squares can bring high recognition to GoPro, making people know at a glance that this person is a GoPro user and uses GoPro products. In order to further expand the popularity of its products, GoPro even began to cooperate with some well-known sports competitive games. Even in<a href=\"https://laohu8.com/S/SNE\">Sony</a>In the GT car of the racing game launched by the first party, you can still find GoPro's authorized flower sticker with the familiar four-color square.</p><p>Accurate user demand analysis, excellent product quality and excellent global marketing, all three indispensable elements have jointly created GoPro's sports business empire.</p><p><h2>GoPro's crisis</h2>Although GoPro has lived a life of food and clothing worry-free in the past ten years, judging from GoPro's many layoffs in the past, GoPro also has its own difficulties to face. First of all, the success of GoPro is based on the segmented professional camera field and marketing. Although this can stand up when the market changes, if the changes in the needs of general users drive the professional market, professional users need to follow the preferences of mass users to produce content, which will challenge the foundation on which GoPro depends.</p><p>Although GoPro still has a special dominant position in the field of professional cameras, in the era of short videos, a large number of non-professional users poured into the video field, bringing GoPro, which was originally high and low, into the public's field of vision. In addition to a large number of non-professional users, there are also mass consumer brands that were not valued by professional users in the past, as well as new content presentation methods related to them, such as stabilizers, 360-degree cameras, and most importantly-DJI drones.<img src=\"https://static.tigerbbs.com/038aba48e608321be72c480040f01ddc\" tg-width=\"1080\" tg-height=\"713\" referrerpolicy=\"no-referrer\">A series of consumer-grade drones headed by DJI mini 2 have brought great impact to the former sports photography market: in the past, athletes wanted to gain aerial photography perspective, and sharing a small helicopter for shooting was the only way. However, driven by brands such as DJI, consumer drones have become another magic weapon for athletes to shoot besides GoPro. Different from GoPro with a fixed viewing angle, drone shooting not only does not need to hold a selfie stick by yourself, but also brings a new angle to the video and is more flexible to use.</p><p>Faced with the challenge of DJI, GoPro actually came up with its own UAV system: In September 2016, GoPro released the brand's first consumer-grade UAV product-GoPro Karma. Karma is priced similarly to DJI's Mavic Pro. With GoPro's excellent word-of-mouth, Karma should have been the best time for GoPro to enter the drone market. However, due to the power failure problem of the product, Karma was recalled shortly after it went on the market. And because Karma's performance in terms of experience, accessories, etc. is far from that of Mavic Pro, and it is more of a GoPro in the air than a drone, Karma's market performance has been sluggish for a long time. The Karma division bore the brunt of GoPro's layoffs in 2018.</p><p><h2>sum up</h2>Although GoPro's performance in other fields is not excellent, with its status as a professional sports camera, GoPro still has an unshakable influence in the professional sports field. No matter in terms of price, difficulty of getting started, or policy environment, the market for sports cameras is always much larger than that of drones. Even if Karma has a bad start, GoPro Hero, an ace product, can still bring enough exposure to GoPro. After all, when it comes to action cameras, the first thing most people think of is GoPro.</p><p><img src=\"https://static.tigerbbs.com/62c92146b28a44092676d4f9b178852d\" tg-width=\"1080\" tg-height=\"1055\" referrerpolicy=\"no-referrer\">However, under the impact of dimensionality reduction from drones or various wearable cameras, it is still unknown whether GoPro can stabilize the market. The shortcoming of wearable cameras lies in image quality, while the shortcoming of drones lies in the difficulty and policy space. If these two problems are solved, the future GoPro is likely to be surpassed by DJI. The four-color square logo that GoPro is proud of may only exist on the playground in the form of stickers at that time.</p>","source":"36kr_stock","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>Can GoPro, which supports half of the sports world, still eat all over the world with one move?</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\">\nCan GoPro, which supports half of the sports world, still eat all over the world with one move?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">雷科技</strong><span class=\"h-time small\">2021-09-14 13:35</span>\n</p>\n</h4>\n</header>\n<article>\n<p>With the propaganda concept of \"I pay, you die\" and all kinds of fancy challenge advertisements, Red Bull, a beverage company that originally only sold sugar water in Europe, has become half the sky in the outdoor sports market. From double boarding to skydiving, to F1 racing or aerobatics, we can always see the Red Bull LOGO in these adrenaline-stimulating sports. Then the question is, since Red Bull supports half of the extreme sports, who supports the other half?<img src=\"https://static.tigerbbs.com/c686f633943c97407bf4f28447111c4f\" tg-width=\"1080\" tg-height=\"539\" referrerpolicy=\"no-referrer\"></p><p>In my opinion, this position makes the action camera brand<a href=\"https://laohu8.com/S/GPRO\">GoPro</a>It can be said that you deserve to come and sit.</p><p><h2>GoPro defines the action camera</h2>GoPro was first born in 2004, when Nick Woodman, an American boy under 30 years old, developed his first action camera with the support of his parents because he couldn't find a good and cheap camera to shoot himself surfing. No one expected that this seemingly I love to invent sports camera concept suddenly touched extreme sports enthusiasts all over the world.</p><p><img src=\"https://static.tigerbbs.com/d108fda3d2509c32cc94c19035cbe1a8\" tg-width=\"1080\" tg-height=\"675\" referrerpolicy=\"no-referrer\"></p><p>With sports cameras as the core, in more than ten years of development, GoPro has successfully built GoPro Hero, a world-famous sports camera brand. With the strong support of outdoor sports enthusiasts around the world, GoPro has also been promoted from a small family-funded brand to a Nasdaq-listed company with a market value of US $1.471 billion.</p><p>Such market performance can't help but make people wonder: Everyone says that the camera market is shrinking year by year. Why can GoPro, which focuses on segmented fields, go upstream and establish its unshakable position in the field of sports cameras with a single product line?</p><p><h2>Start with athletes, empower athletes</h2>First of all, GoPro is a product with a very clear positioning. Just like game peripheral brands<a href=\"https://laohu8.com/S/01337\">Razer</a>GoPro was also born in the hands of athletes, or surfers, just as the slogan begins with players, by gamers. As a target user in this field, Nick Woodman knows exactly what kind of action camera he needs and other surfers need, which naturally allows GoPro to reach the pain points of users.</p><p>At the same time, focusing on segments is also the reason why GoPro can gain a firm footstep in the shrinking wave of the camera market. Unlike other wide-spreading camera brands, GoPro has focused on the highly segmented field of expertise of action cameras for the past ten years. Although the field of mass consumption can bring a larger potential user group to the brand, it is difficult for the brand to cultivate the consumption habits of a large number of users at the same time.</p><p><img src=\"https://static.tigerbbs.com/884409df3570d4553b8c7bf10a6e63f5\" tg-width=\"1080\" tg-height=\"783\" referrerpolicy=\"no-referrer\">Instead of letting everyone GoPro come back to record their lives, it's better to promote it to professional users. The high threshold of action cameras filters out potential competitors of GoPro, and the record behind action cameras just needs to provide a huge market for GoPro. Unlike mass consumers, professional users have higher brand loyalty when purchasing sports accessories, which also allows GoPro to stabilize its fundamentals while the camera market is shrinking.</p><p>But this is not the main reason why GoPro can go all the way to now. In my opinion, it is GoPro's marketing that really laid half of GoPro's foundation. Just like Red Bull, in order to increase exposure, GoPro tries its best to get on every occasion that can bring exposure. The words GoPro and the four-color square logo also appeared all over the country along with athletes, strengthening the public's awareness of the GoPro sports brand.<img src=\"https://static.tigerbbs.com/30ec9060d44a4d58edabdc3165ce38c8\" tg-width=\"1080\" tg-height=\"489\" referrerpolicy=\"no-referrer\">Just like the Red Bull with LOGO as its totem, whether in the French Alps or the Grand Canyon in the United States, the pattern composed of four blue squares can bring high recognition to GoPro, making people know at a glance that this person is a GoPro user and uses GoPro products. In order to further expand the popularity of its products, GoPro even began to cooperate with some well-known sports competitive games. Even in<a href=\"https://laohu8.com/S/SNE\">Sony</a>In the GT car of the racing game launched by the first party, you can still find GoPro's authorized flower sticker with the familiar four-color square.</p><p>Accurate user demand analysis, excellent product quality and excellent global marketing, all three indispensable elements have jointly created GoPro's sports business empire.</p><p><h2>GoPro's crisis</h2>Although GoPro has lived a life of food and clothing worry-free in the past ten years, judging from GoPro's many layoffs in the past, GoPro also has its own difficulties to face. First of all, the success of GoPro is based on the segmented professional camera field and marketing. Although this can stand up when the market changes, if the changes in the needs of general users drive the professional market, professional users need to follow the preferences of mass users to produce content, which will challenge the foundation on which GoPro depends.</p><p>Although GoPro still has a special dominant position in the field of professional cameras, in the era of short videos, a large number of non-professional users poured into the video field, bringing GoPro, which was originally high and low, into the public's field of vision. In addition to a large number of non-professional users, there are also mass consumer brands that were not valued by professional users in the past, as well as new content presentation methods related to them, such as stabilizers, 360-degree cameras, and most importantly-DJI drones.<img src=\"https://static.tigerbbs.com/038aba48e608321be72c480040f01ddc\" tg-width=\"1080\" tg-height=\"713\" referrerpolicy=\"no-referrer\">A series of consumer-grade drones headed by DJI mini 2 have brought great impact to the former sports photography market: in the past, athletes wanted to gain aerial photography perspective, and sharing a small helicopter for shooting was the only way. However, driven by brands such as DJI, consumer drones have become another magic weapon for athletes to shoot besides GoPro. Different from GoPro with a fixed viewing angle, drone shooting not only does not need to hold a selfie stick by yourself, but also brings a new angle to the video and is more flexible to use.</p><p>Faced with the challenge of DJI, GoPro actually came up with its own UAV system: In September 2016, GoPro released the brand's first consumer-grade UAV product-GoPro Karma. Karma is priced similarly to DJI's Mavic Pro. With GoPro's excellent word-of-mouth, Karma should have been the best time for GoPro to enter the drone market. However, due to the power failure problem of the product, Karma was recalled shortly after it went on the market. And because Karma's performance in terms of experience, accessories, etc. is far from that of Mavic Pro, and it is more of a GoPro in the air than a drone, Karma's market performance has been sluggish for a long time. The Karma division bore the brunt of GoPro's layoffs in 2018.</p><p><h2>sum up</h2>Although GoPro's performance in other fields is not excellent, with its status as a professional sports camera, GoPro still has an unshakable influence in the professional sports field. No matter in terms of price, difficulty of getting started, or policy environment, the market for sports cameras is always much larger than that of drones. Even if Karma has a bad start, GoPro Hero, an ace product, can still bring enough exposure to GoPro. After all, when it comes to action cameras, the first thing most people think of is GoPro.</p><p><img src=\"https://static.tigerbbs.com/62c92146b28a44092676d4f9b178852d\" tg-width=\"1080\" tg-height=\"1055\" referrerpolicy=\"no-referrer\">However, under the impact of dimensionality reduction from drones or various wearable cameras, it is still unknown whether GoPro can stabilize the market. The shortcoming of wearable cameras lies in image quality, while the shortcoming of drones lies in the difficulty and policy space. If these two problems are solved, the future GoPro is likely to be surpassed by DJI. The four-color square logo that GoPro is proud of may only exist on the playground in the form of stickers at that time.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://36kr.com/p/1397039284075522\">雷科技</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/d108fda3d2509c32cc94c19035cbe1a8","relate_stocks":{"GPRO":"GoPro"},"source_url":"https://36kr.com/p/1397039284075522","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2167539748","content_text":"凭借着「我出钱、你出命」一样的宣传理念以及各种花式整活的挑战广告，红牛这个本来只是欧洲「卖糖水」的饮料公司已经成为了户外运动市场的半边天。从双板滑雪到高空跳伞，再到F1赛车或者特技飞行，在这些激发肾上腺素的运动项目中，我们总能看到红牛的LOGO。那么问题来了，既然红牛撑起了极限运动的半壁江山，那另外一半又是由谁来支撑的呢？\n在我看来，这个位置让运动相机品牌GoPro来坐可以说当之无愧。\nGoPro定义了运动相机\nGoPro最早诞生于2004年，当时30岁不到的美国小伙尼克·伍德曼（Nick Woodman）因为找不到物美价廉的相机拍摄自己冲浪，在父母的资助下开发出了第一款自己的运动相机。谁也没想到这个看似「我爱发明」的运动相机理念一下子打动了全球极限运动爱好者。\n\n以运动相机为核心，在十余年的发展中，GoPro成功打造了GoPro Hero这一闻名世界的运动相机品牌，在全球户外运动爱好者的大力捧场下，GoPro也从曾经的家庭资助小品牌晋升成了市值14.71亿美元的纳斯达克上市企业。\n这样的市场表现不禁让人生疑：大家都说相机市场正逐年萎缩，为什么专注于细分领域的GoPro可以逆流而上，凭借单一产品线奠定自己在运动相机领域难以动摇的地位呢？\n始于运动员，赋予运动员\n首先，GoPro是一款定位非常明确的产品。就像游戏周边品牌雷蛇的口号「始于玩家、赋予玩家」(For Gamers. By Gamers.)说的一样，GoPro也同样诞生于运动员，或者说冲浪玩家的手中。作为该领域的目标用户，尼克·伍德曼深知自己需要以及其他冲浪爱好者需要的是怎样一款运动相机，自然可以让GoPro直达用户痛点。\n同时，专注于细分领域也是GoPro能在相机市场萎缩浪潮中站稳脚步的原因。不同于其他广撒网的相机品牌，GoPro在过去十余年里专注于运动相机这一个高度细分的专业领域。大众消费领域虽然可以为品牌带来更大的潜在用户群体，但品牌很难同时培养海量用户的消费习惯。\n与其让所有人都GoPro回来记录生活，倒不如面向专业用户定向推广。运动相机的高门槛过滤掉了GoPro的潜在竞争者，运动相机背后的「记录」刚需为GoPro提供了巨大的市场。与大众消费者不同，专业用户在选购运动配件时有着更高的品牌忠诚度，这也让GoPro在相机市场萎缩的同时得以稳住自己的基本盘。\n但这都不是GoPro可以一路走到现在的最主要原因。在我看来，真正奠定GoPro「半壁江山」的，还是GoPro的营销。就像红牛一样，为了增加曝光，GoPro想尽办法登上一切能带来曝光度的场合。GoPro字样与四色方块的标志也随着运动员一起，出现在大江南北，强化大众对GoPro「运动」品牌的认知。就像以LOGO作图腾的红牛一样，无论在法国阿尔卑斯山，还是在美国的大峡谷，四个蓝色方块构成的图案都能为GoPro带来极高的辨识度，让人一看就知道这个人是GoPro用户，用的是GoPro产品。为了进一步扩大产品的知名度，GoPro甚至开始与部分知名的运动竞技游戏合作。即使在索尼第一方推出的竞速游戏的GT赛车中，你依旧可以凭借熟悉的四色方块找到GoPro的授权拉花贴纸。\n精准的用户需求探析、过硬的产品质量与出色的全球营销，缺一不可的三种元素共同缔造了GoPro的运动商业帝国。\nGoPro的危机\n尽管GoPro在过去十余年里过着「衣食无忧」的生活，但从GoPro过去多次裁员来看，GoPro也有着自己要面对的困难。首先，GoPro的成功建立在细分的专业相机领域和市场营销，这虽然可以在市场变动时站住脚，但如果一般用户的需求变化带动了专业市场，让专业用户需要跟着大众用户的喜好来生产内容，这将对GoPro赖以生存的根基发起挑战。\n尽管GoPro在专业相机领域依然有着特殊的主导地位，但在短视频时代，非专业用户大量涌入视频领域，让原本「曲高和寡」的GoPro一下子进入到大众视野中。除了大量非专业用户，一同进入视频领域的还有过去并不被专业用户所重视的大众消费品牌，以及与之相关的全新内容呈现方式，比如稳定器、360度摄像头，以及最重要的——大疆无人机。以DJI mini 2为首的一系列消费级无人机给曾经的运动摄影市场带来了极大的冲击：过去运动员想获得航拍视角，合租小型直升机进行拍摄是唯一的办法。但在大疆等品牌的推动下，消费级无人机已经成为了GoPro之外，运动员拍摄的又一法宝。不同于固定视角的GoPro，无人机拍摄不但无需自己举着自拍杆，同时还能给视频带来全新的角度，使用起来也更加灵活。\n面对大疆的挑战，GoPro其实也拿出了自己的无人机系统：2016年9月，GoPro发布了品牌首款消费级无人机产品——GoPro Karma。karma定价与大疆的Mavic Pro类似，凭借GoPro的出色口碑，Karma本应是GoPro进入无人机市场的最好时机。但由于产品存在断电问题，Karma在上市不久后就被召回。且由于Karma在体验、配件等方面表现与Mavic Pro相差甚远，更多地还是一个「空中的GoPro」而不是一个无人机，Karma的市场表现长期萎靡。在2018年GoPro的裁员计划中，Karma部门首当其冲。\n总结\n尽管在其他领域GoPro的表现不算出色，但凭借其专业运动相机的身份，GoPro在专业运动领域依旧有着难以撼动的影响力。无论从价格还是上手难度，抑或是政策环境来看，运动相机的市场始终比无人机要大得多。即使Karma出师不利，GoPro Hero这一王牌产品依旧能给GoPro带来足够多的曝光度。毕竟提到运动相机，绝大多数人首先想到的就是GoPro。\n但在来自无人机或各类可穿戴相机的降维打击下，GoPro能否稳住市场还是一个未知数。可穿戴相机的短板在画质，而无人机的短板在上手难度与政策空间。要是这两个问题得以解决，那未来的GoPro，很可能会被大疆超越。而GoPro引以为豪的四色方块标志，到那时候可能只能以贴纸拉花的形式存在于运动场上了。","news_type":1,"symbols_score_info":{"GPRO":0.9}},"isVote":1,"tweetType":1,"viewCount":582,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886597881,"gmtCreate":1631603186343,"gmtModify":1676530587279,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"htmlText":"Iiiiiiiiiii","listText":"Iiiiiiiiiii","text":"Iiiiiiiiiii","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/886597881","repostId":"1125233732","repostType":4,"repost":{"id":"1125233732","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":1631585404,"share":"https://ttm.financial/m/news/1125233732?lang=en_US&edition=fundamental","pubTime":"2021-09-14 10:10","market":"hk","language":"zh","title":"Chuangsheng Group-B will launch its IPO today, and the admission fee is HK $8080.62","url":"https://stock-news.laohu8.com/highlight/detail?id=1125233732","media":"老虎资讯综合","summary":"9月14日，创胜集团-B发布公告，将于9月14日-17日招股，公司拟发行4033万股股份，其中公开发售403.3万股，国际发售3629.7万股，每股发行价15.8-16.0港元，每手500股，预期将于","content":"<p>On September 14, Chuangsheng Group-B announced that it will issue an IPO from September 14 to 17. The company plans to issue 40.33 million shares, including 4.033 million shares for public offering and 36.297 million shares for international offering. The issue price per share is 15.8-16.0 Hong Kong dollars, 500 shares per lot, is expected to be listed on September 29.<img src=\"https://static.tigerbbs.com/9ba29eba878cdee288429ad8a16f9d00\" tg-width=\"1042\" tg-height=\"832\" referrerpolicy=\"no-referrer\"><b>Subscription ladder:</b></p><p>There are 500 shares per lot, and the admission fee is HK $8080.62.</p><p>The threshold for Group B is 400,000 shares, and the funds required for subscription are approximately HK $6,464,492.80.<img src=\"https://static.tigerbbs.com/9f1c34f08eb4c20019a01f9acc63f14f\" tg-width=\"1059\" tg-height=\"642\" referrerpolicy=\"no-referrer\">In terms of cornerstone investors, a number of cornerstone investors agreed to subscribe for the number of offer shares available for subscription at the offer price, totaling approximately US $68 million, including LAV, Temasek, QIA, and China State-owned Enterprise Structural Adjustment Fund.<img src=\"https://static.tigerbbs.com/0050cc39e3f722d8bdbffca2c78ed928\" tg-width=\"771\" tg-height=\"551\" referrerpolicy=\"no-referrer\">In terms of financial data, the company<b>There are currently no products approved for commercial sale and therefore no revenue has been generated from product sales</b>Which generates substantially all of its revenue from providing CDMO services to customers, primarily pharmaceutical and biotechnology companies, under CDMO contracts.</p><p>During the Track Record Period, the Company was not profitable and incurred operating losses. In 2019, 2020 and the first three months of 2021, the company achieved revenue of RMB 44.14 million, RMB 80.98 million and RMB 7.883 million, and recorded total comprehensive expenses for the year of RMB 438 million, RMB 320 million and RMB 71 million respectively during the same period.<img src=\"https://static.tigerbbs.com/74ddb8e79ea01953d562bc48dcc7a58d\" tg-width=\"1013\" tg-height=\"794\" referrerpolicy=\"no-referrer\">In terms of financing purposes, the company's net proceeds were 571 million yuan (assuming that the over-allotment option is not exercised, calculated based on the median issue price). According to the prospectus, the company intends to use the net proceeds from the share offering for the following purposes: 82% for the research and development of the company's pipeline product candidates, for ongoing and planned clinical and preclinical trials, preparation for registration and filing, and other commercialization Funding for steps or activities related to the company's four flagship products; 8% was used to fund the business development of pipeline expansion and technology development; 10% for general working capital and general operating expenses.</p><p>Chuangsheng Group is a clinical-stage biopharmaceutical company integrating discovery, research, development, manufacturing and business expansion capabilities. As of the Latest Practicable Date, the Company has independently discovered and developed eight of the nine drug candidates, covering proven, partially proven and novel biological pathways.</p><p>Among them, the core product is MSB2311 (a humanized PD-L1 monoclonal antibody (monoclonal antibody) drug candidate for solid tumors). The company has submitted a phase 1 end analysis report to the State Food and Drug Administration in January 2021.</p><p>The only drug candidate authorized for introduction is Blosozumab (TST002), a humanized sclerostin monoclonal antibody drug candidate for the treatment of osteoporosis, which was authorized by Eli Lilly in Greater China in 2019.</p><p>It is worth noting that the company is supported by world-renowned strategic investors and professional funds focusing on biotechnology<b>, shareholders include Eli Lilly Asia Fund, Temasek, ARCH Ventures Partners, China State-owned Enterprise Structural Adjustment Fund, Teng Yue Partners, Hillhouse Capital and Sequoia Capital China Fund, etc.</b></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Chuangsheng Group-B will launch its IPO today, and the admission fee is HK $8080.62</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\">\nChuangsheng Group-B will launch its IPO today, and the admission fee is HK $8080.62\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\">2021-09-14 10:10</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On September 14, Chuangsheng Group-B announced that it will issue an IPO from September 14 to 17. The company plans to issue 40.33 million shares, including 4.033 million shares for public offering and 36.297 million shares for international offering. The issue price per share is 15.8-16.0 Hong Kong dollars, 500 shares per lot, is expected to be listed on September 29.<img src=\"https://static.tigerbbs.com/9ba29eba878cdee288429ad8a16f9d00\" tg-width=\"1042\" tg-height=\"832\" referrerpolicy=\"no-referrer\"><b>Subscription ladder:</b></p><p>There are 500 shares per lot, and the admission fee is HK $8080.62.</p><p>The threshold for Group B is 400,000 shares, and the funds required for subscription are approximately HK $6,464,492.80.<img src=\"https://static.tigerbbs.com/9f1c34f08eb4c20019a01f9acc63f14f\" tg-width=\"1059\" tg-height=\"642\" referrerpolicy=\"no-referrer\">In terms of cornerstone investors, a number of cornerstone investors agreed to subscribe for the number of offer shares available for subscription at the offer price, totaling approximately US $68 million, including LAV, Temasek, QIA, and China State-owned Enterprise Structural Adjustment Fund.<img src=\"https://static.tigerbbs.com/0050cc39e3f722d8bdbffca2c78ed928\" tg-width=\"771\" tg-height=\"551\" referrerpolicy=\"no-referrer\">In terms of financial data, the company<b>There are currently no products approved for commercial sale and therefore no revenue has been generated from product sales</b>Which generates substantially all of its revenue from providing CDMO services to customers, primarily pharmaceutical and biotechnology companies, under CDMO contracts.</p><p>During the Track Record Period, the Company was not profitable and incurred operating losses. In 2019, 2020 and the first three months of 2021, the company achieved revenue of RMB 44.14 million, RMB 80.98 million and RMB 7.883 million, and recorded total comprehensive expenses for the year of RMB 438 million, RMB 320 million and RMB 71 million respectively during the same period.<img src=\"https://static.tigerbbs.com/74ddb8e79ea01953d562bc48dcc7a58d\" tg-width=\"1013\" tg-height=\"794\" referrerpolicy=\"no-referrer\">In terms of financing purposes, the company's net proceeds were 571 million yuan (assuming that the over-allotment option is not exercised, calculated based on the median issue price). According to the prospectus, the company intends to use the net proceeds from the share offering for the following purposes: 82% for the research and development of the company's pipeline product candidates, for ongoing and planned clinical and preclinical trials, preparation for registration and filing, and other commercialization Funding for steps or activities related to the company's four flagship products; 8% was used to fund the business development of pipeline expansion and technology development; 10% for general working capital and general operating expenses.</p><p>Chuangsheng Group is a clinical-stage biopharmaceutical company integrating discovery, research, development, manufacturing and business expansion capabilities. As of the Latest Practicable Date, the Company has independently discovered and developed eight of the nine drug candidates, covering proven, partially proven and novel biological pathways.</p><p>Among them, the core product is MSB2311 (a humanized PD-L1 monoclonal antibody (monoclonal antibody) drug candidate for solid tumors). The company has submitted a phase 1 end analysis report to the State Food and Drug Administration in January 2021.</p><p>The only drug candidate authorized for introduction is Blosozumab (TST002), a humanized sclerostin monoclonal antibody drug candidate for the treatment of osteoporosis, which was authorized by Eli Lilly in Greater China in 2019.</p><p>It is worth noting that the company is supported by world-renowned strategic investors and professional funds focusing on biotechnology<b>, shareholders include Eli Lilly Asia Fund, Temasek, ARCH Ventures Partners, China State-owned Enterprise Structural Adjustment Fund, Teng Yue Partners, Hillhouse Capital and Sequoia Capital China Fund, etc.</b></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/819e63bbaff7db212baae89a294e955b","relate_stocks":{"06628":"创胜集团-B"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125233732","content_text":"9月14日，创胜集团-B发布公告，将于9月14日-17日招股，公司拟发行4033万股股份，其中公开发售403.3万股，国际发售3629.7万股，每股发行价15.8-16.0港元，每手500股，预期将于9月29日上市。申购阶梯：\n每手500股，入场费8080.62港元。\n乙组门槛为40万股，申购所需资金约6464492.80港元。基石投资者方面，多名基石投资者同意按发售价认购可供认购的发售股份数目，总额约6800万美元，包括LAV、淡马锡、QIA、中国国有企业结构调整基金。财务数据方面，公司目前尚无获准可进行商业销售的产品，因此并未产生任何产品销售收益，其绝大部分收益来自根据CDMO合约向客户（主要为制药及生物科技公司）提供CDMO服务。\n于往绩记录期公司尚未盈利，且产生经营亏损。于2019年、2020年及2021年前三个月，公司实现收入人民币4414万元、8098万元及788.3万元，同期录得年内全面开支总额分别为人民币4.38亿元、3.20亿元及0.71亿元。筹资用途方面，公司所得款项净额5.71亿元(假设超额配股权未获行使，以发行价中位数计算)。根据招股书，公司拟将股份发售所得款项净额用于以下用途：82%用于公司管线候选产品的研发、为进行中及计划中的临床及临床前试验、筹备注册备案以及其他与商业化公司四款主打产品有关的步骤或活动拨资；8%用于为扩充管线及开发技术的业务发展拨资；10%用作一般营运资金及一般营运费用。\n创胜集团是一家集发现、研究、开发、制造及业务拓展能力为一体的临床阶段生物制药公司。截至最后实际可行日期，公司已自主发现及开发九种候选药物中的八种药物，涵盖已验证的、部分验证的及新型生物通路。\n其中核心产品是MSB2311（一种针对实体瘤的人源化PD-L1单克隆抗体（单抗）候选药物），公司已于2021年1月向国家药监局提交1期结束分析报告。\n唯一授权引进的候选药物为Blosozumab（TST002）（一种用于治疗骨质疏松的人源化硬骨素单克隆抗体候选药物），于2019年自礼来授权引进该药在大中华区权利。\n值得注意的是，公司获得全球知名战略投资者及专注于生物科技的专业基金的支持，股东包括礼来亚洲基金、淡马锡、ARCH Ventures Partners、中国国有企业结构调整基金、Teng Yue Partners、高瓴资本及红杉资本中国基金等。","news_type":1,"symbols_score_info":{"06628":0.9}},"isVote":1,"tweetType":1,"viewCount":873,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886595831,"gmtCreate":1631603031323,"gmtModify":1676530587162,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"htmlText":"hh","listText":"hh","text":"hh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/886595831","repostId":"1181453869","repostType":4,"repost":{"id":"1181453869","kind":"news","pubTimestamp":1631602814,"share":"https://ttm.financial/m/news/1181453869?lang=en_US&edition=fundamental","pubTime":"2021-09-14 15:00","market":"hk","language":"zh","title":"Theme park, Pop Mart can play, understand?","url":"https://stock-news.laohu8.com/highlight/detail?id=1181453869","media":"新零售商业评论","summary":"自2016年上海迪士尼开放后，国内便刮起了一股主题乐园建设风，欢乐谷、万达乐园、华强方特、长隆……个个都要和迪士尼比划比划。\n如今五年已过，上海迪士尼仍然人头攒动。北京环球影城即将热闹开幕，万达乐园易","content":"<p>Since 2016 Shanghai<a href=\"https://laohu8.com/S/DIS\">Disney</a>After the opening, there has been a trend of theme park construction in China. Happy Valley, Wanda Park, Huaqiang Fantawild, Chimelong... all have to compete with Disney.</p><p>Now that five years have passed, Shanghai Disneyland is still crowded. Universal Studios Beijing is about to open lively, Wanda Park changes hands to Sunac, Legoland,<a href=\"https://laohu8.com/S/SNE\">Sony</a>More theme parks, such as parks, are eyeing the Chinese market... The development of theme parks in China has entered a new chapter.</p><p>Not long ago,<a href=\"https://laohu8.com/S/09992\">Pop Mart</a>It also joined the war situation and established a wholly-owned subsidiary Beijing Pop Mart Paradise Management Co., Ltd. to continue to expand its IP territory.</p><p>However, only those IPs in the blind box obviously won't work. We helped Pop Mart figure out what else they need to prepare to run a theme park.</p><p><b>What does it really take to run a theme park?</b></p><p><b>A piece of land</b></p><p>To build a theme park, you must first have a piece of land.</p><p>Many domestic amusement park operators, such as OCT, Sunac and previously Wanda, are real estate developers, and they have natural advantages in land planning. Therefore, Happy Valley, Sunac Paradise, etc. are all taking the route of \"tourism + real estate\".</p><p>Shanghai Disneyland and Universal Studios Beijing have chosen to cooperate with local governments and real estate developers in order to successfully acquire land. In addition to the more combination of Chinese and Western operating models, the operation idea is still \"tourism + real estate\".</p><p>From the perspective of specific regional selection, Shanghai Disneyland and Universal Studios Beijing are currently in strong areas (Pudong New Area, Tongzhou) with better geographical and transportation advantages in their respective cities. Latecomers, such as Legoland, will find it difficult to get better land, and they can only rank second to sub-optimal areas such as Jinshan District in Shanghai and Fangshan District in Beijing.</p><p>Huaqiang Fantawild, Sunac, Songcheng, Chimelong and other parks gave up the first-and second-tier cities with relatively fierce competition from the very beginning, and instead chose to give full play to their strengths in their own advantageous areas.</p><p><b>Rich and interesting entertainment facilities</b></p><p>Thrilling roller coasters, dreamy merry-go-rounds, huge castles, realistic 4D technology... these have become the \"standard\" of theme parks, and these entertainment facilities and corresponding visual presentation technologies have been updated and iterated.</p><p>The collision between new technology and old technology can be clearly felt at Universal Studios Beijing.</p><p>A Up owner of Station B who went to punch in said that the experience of Minions was many levels higher than that of Harry Potter.</p><p>It is reported that the Minions section uses the latest 4D presentation technology, and the picture quality is high. However, \"Harry Potter's Forbidden Journey\" still uses the presentation technology of the first Harry Potter theme park in Universal Studios Orlando in 2007, and the picture is very blurry.</p><p>In terms of entertainment facilities and presentation technology, Huaqiang Fantawild can be regarded as one of the domestic enterprises with strong voice. Thanks to starting with the sale of special film equipment, the founder of Huaqiang Fantawild once said in the media: \"We all have Disney's technology.\"</p><p><img src=\"https://static.tigerbbs.com/1839ed832cf7272eff09472a111f37f6\" tg-width=\"599\" tg-height=\"412\" referrerpolicy=\"no-referrer\"></p><p>This is an important opportunity for Huaqiang Fantawild to gradually transform from indoor amusement facilities to outdoor theme parks, and it also makes up for its relative disadvantage in real estate-after all, \"fun\" is the key factor for theme parks to attract tourists.</p><p>It is reported that Huaqiang Fangte opens theme parks mainly through cooperation with various investors for investment and construction. Huaqiang Fangte provides special equipment, installation services, special effects engineering construction services or engineering management services.</p><p>However, the operators of theme parks such as OCT, Sunac and Chimelong, which already have real estate operation capabilities, can only choose third-party cooperation to introduce equipment and technology.</p><p><b>Mature IP and operational capabilities</b></p><p>This is the top priority of the theme park.</p><p>Most of the IPs owned by Disney and Universal Studios have formed some kind of cultural symbol, which has had a far-reaching impact on a global scale.</p><p>For example, Harry Potter fans, Star Wars fans and Lord of the Rings fans all have a mature internal slang system (such as spells and elves), and they are usually proud of showing their unique fan characteristics, which makes the corresponding IP periphery have more room for development.</p><p>What fan would go on a forbidden trip to Harry Potter at Universal Studios without buying a magic wand and drinking a butterbeer? Which fan will be willing to return empty-handed when he sees the helmet of the storm soldier when he goes to the Disney Mall?</p><p>What's more, most of these IPs have been accumulated for decades, and the content of the story has been constantly pushed out to cater to the appetite of new and old fans, which has had a huge influence on generations, and these influences have given birth to the strong spending power of tourists visiting theme parks.</p><p>But these alone are not enough. The soul of the theme park is to make these IPs \"live\" in the park and bring visitors a realistic immersive experience.</p><p>Disney has always been known for its dreams, because it is a fairy tale kingdom, in which all the fairy tale characters are vivid. They will greet and interact with tourists, and they will also tell some narrations that conform to the \"people's design\". When you walk into the park, you will feel happy from the bottom of your heart. This kind of appeal is unprecedented in many theme parks in China before.</p><p>Universal Studios is not far behind. Some netizens said that when you come to Harry Potter's forbidden trip and want to find a charging treasure, the staff will tell you, \"That's for Muggles, we don't have it here.\"</p><p>A wave of the induction wand will produce scene changes, and myrtle crying in the toilet... are all important designs to increase the sense of experience.</p><p><img src=\"https://static.tigerbbs.com/44c7be8377cea3265e872dbc9f4f80e6\" tg-width=\"500\" tg-height=\"328\" referrerpolicy=\"no-referrer\"></p><p>To present these IPs as authentically as possible, it benefits from the \"Chinese main investment + American main operation\" model of Shanghai Disneyland and Universal Studios Beijing.</p><p>Shanghai Disneyland is jointly invested by Shendi Group and Disney to set up three enterprises, two of which are owner companies and the third is management companies.</p><p>Just like the hotel management mode, the management company jointly established by both parties accepts the entrustment of the owner company and is responsible for the creativity, design, development and daily operation management of the project. This is also the first time in an overseas park invested by Disney.</p><p>Universal Studios Beijing also borrowed from this model, with Beijing Shouhuan Cultural Tourism Investment Co., Ltd. (referred to as \"Shouhuan Investment\") and Universal Theme Company and Resort (<a href=\"https://laohu8.com/S/CMCSK\">Comcast</a>NBC Universal's business segments) joint venture operations, with equity ratios of 70% and 30%.</p><p>The advantage of this is that, as the holder of IP, the United States has a better understanding of the true value of IP, so that it can maximize these values.</p><p>Back in the theme parks in China, they are somewhat a clever woman in IP operation.</p><p>OCT and Sunac basically adopt the way of cooperating with mature IP in China, which is more like branding IP on their own amusement facilities or staff, so as to attract the audience of a certain IP to come and play.</p><p>For example, Nanjing Happy Valley, which opened last year, was bound to Little Yellow Duck IP. In Nanjing, where \"no duck can swim out\", this IP is of course very popular, and its positioning is accurate.</p><p><img src=\"https://static.tigerbbs.com/4206f3e0889dc0dec204f2836239501e\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p><p>However, even if you have your own IP, it is still not easy to create an excellent sense of immersion. After all, the experience is a feeling that is both individual and subtle.</p><p>Located by Yangcheng Lake in Suzhou<a href=\"https://laohu8.com/S/300027\">Huayi Brothers</a>In the world of movies, there are many Huayi Brothers movie IPs such as \"If You Are the One\", \"Di Renjie's Empire of Heaven\" and \"Tai Chi\", but in terms of IP operation-many projects have real scenes but no interaction, which can neither bring real immersive experience to consumers, nor can it increase user stickiness, leaving only monotonous photos as souvenirs, and ultimately the crowd is left out.</p><p>Huaqiang Fangte has certain uniqueness and originality in the operation of its own IP and theme parks, and \"<b>Tourism + Real Estate</b>\"The model is different, Huaqiang Fantawild's strategy is\"<b>Culture + Technology</b>\", take the route that content is king.</p><p>But it is destined to be a very difficult road to keep up with Disney.</p><p>In the past ten years, Huaqiang Fantawild has created more than 30 self-owned IPs, and the only one that is truly well-known is \"Bear Infested\". However, this 8-year-old IP has not brought much color to Huaqiang Fantawild's theme park.</p><p>The reason is that the main audience of Bear Infested is children, but the target consumers of the theme park are young people aged 20 ~ 30. The aging of IP, the dislocation of target groups and the reduction of attractiveness naturally make the realization of theme parks even more weak.</p><p>Huaqiang Fantawild hopes to create an IP for higher age groups, so it took five years to launch the fantasy animation film \"City of Figurines\".</p><p>The film was released this summer, and the box office was fierce-although the special effects were good, the plot and characterization were \"crotch-stretching\", and the setting of national style elements such as Terracotta Warriors and Horses and Shan Hai Jing was too confusing, and it also \"brought\" many explosive elements of Pixar and Disney animated films...</p><p>Children may not understand it. In front of well-informed adult consumers, the originality proclaimed by the producer of \"City of Figurines\" is like a joke.</p><p><b>Theme park blessings are yet to come</b></p><p>Theme parks belong to the asset-heavy operation mode, and the remaining theme parks that are still in business today are the products of the big waves in the past ten years.</p><p>According to statistics, within ten years since Shanghai Disneyland announced its construction, 80% of theme parks have closed down successively, such as the famous Oriental Park, \"Tiangong Tribe\" and Orange Island Beach Park.</p><p>According to previous reports, around 2016, there were about 300 domestic theme parks with an investment of more than 50 million yuan, 70% of which were at a loss, 20% were flat, and only 10% were profitable. About 150 billion yuan was stuck in the investment of theme parks.</p><p>Today's theme parks have gradually got rid of the state of barbaric growth at that time, and have begun to move towards the development path of scientific planning and IP operation, and their operations are on the right track.</p><p>Judging from the financial report in the first half of this year, OCT's comprehensive tourism business achieved revenue of 18.922 billion yuan and gross profit of 4.685 billion yuan, a year-on-year increase of 89.93% and 24.98% respectively. The company's 26 scenic spots, 25 hotels, 1 travel agency, 6 open tourist areas, and 1 tourist performing arts received a total of 28.482 million tourists, recovering to 160% of the same period in 2019.</p><p>The performance of Sunac's cultural tourism sector is also growing rapidly. In the first half of this year, the operating income was 2.61 billion yuan, a year-on-year increase of 166%; The passenger flow reached 72.01 million, a year-on-year increase of 103%.</p><p>Although Huaqiang Fantawild has its own troubles, the operating income of theme parks in the first half of this year was 1.789 billion yuan, a year-on-year increase of 37.37%. In addition, in the first half of 2021, the tourist reception of Fantawild Theme Park has recovered to nearly 90% of the same period in 2019.</p><p>These achievements also benefited from consumers' \"retaliatory\" travel and consumption after the epidemic. In addition, consumers' consumption mentality has also undergone some changes-whether it is playing, shopping or dining, they are more pursuing novel and fun offline experiences, which is an excellent opportunity for theme parks.</p><p>Therefore,<b>Constantly bringing freshness to consumers has become extra important. Differentiated positioning, equipment update and iteration, technology upgrade... these have all become the eternal topics and investment focus of theme park operators.</b></p><p>Now that you want to enter the theme park, latecomers need to solve more and more problems.</p><p>Take Pop Mart as an example. Its brand is attracted by many trendy consumers in first-and second-tier cities, so the location of the park is bound to be limited to this range, and the cost is bound to increase substantially;</p><p>In terms of the reserve of park facilities and technologies, Pop Mart is likely to only adopt the supplier cooperation system, instead of independent research and development. Even if it does self-research, it is not as good as its predecessors who have accumulated years of experience;</p><p>In terms of the operation of its own IP, most of Pop Mart's IPs are in the initial stage of development-that is, there is only a simple IP image, and there is no story or connotation behind it. Disney and Universal Studios, which hold multiple classic IPs in the same hand, are not at all. The level of magnitude is not even more universal than Huaqiang Fantawild's \"Bear Infested\";</p><p>Plus<a href=\"https://laohu8.com/S/SONY\">Sony</a>, Nintendo, Lego and other companies with massive mature IP, unique gameplay and culture are also eyeing this track...</p><p>It's difficult to successfully operate a theme park!</p>","source":"lsy1574404730537","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>Theme park, Pop Mart can play, understand?</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\">\nTheme park, Pop Mart can play, understand?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新零售商业评论</strong><span class=\"h-time small\">2021-09-14 15:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Since 2016 Shanghai<a href=\"https://laohu8.com/S/DIS\">Disney</a>After the opening, there has been a trend of theme park construction in China. Happy Valley, Wanda Park, Huaqiang Fantawild, Chimelong... all have to compete with Disney.</p><p>Now that five years have passed, Shanghai Disneyland is still crowded. Universal Studios Beijing is about to open lively, Wanda Park changes hands to Sunac, Legoland,<a href=\"https://laohu8.com/S/SNE\">Sony</a>More theme parks, such as parks, are eyeing the Chinese market... The development of theme parks in China has entered a new chapter.</p><p>Not long ago,<a href=\"https://laohu8.com/S/09992\">Pop Mart</a>It also joined the war situation and established a wholly-owned subsidiary Beijing Pop Mart Paradise Management Co., Ltd. to continue to expand its IP territory.</p><p>However, only those IPs in the blind box obviously won't work. We helped Pop Mart figure out what else they need to prepare to run a theme park.</p><p><b>What does it really take to run a theme park?</b></p><p><b>A piece of land</b></p><p>To build a theme park, you must first have a piece of land.</p><p>Many domestic amusement park operators, such as OCT, Sunac and previously Wanda, are real estate developers, and they have natural advantages in land planning. Therefore, Happy Valley, Sunac Paradise, etc. are all taking the route of \"tourism + real estate\".</p><p>Shanghai Disneyland and Universal Studios Beijing have chosen to cooperate with local governments and real estate developers in order to successfully acquire land. In addition to the more combination of Chinese and Western operating models, the operation idea is still \"tourism + real estate\".</p><p>From the perspective of specific regional selection, Shanghai Disneyland and Universal Studios Beijing are currently in strong areas (Pudong New Area, Tongzhou) with better geographical and transportation advantages in their respective cities. Latecomers, such as Legoland, will find it difficult to get better land, and they can only rank second to sub-optimal areas such as Jinshan District in Shanghai and Fangshan District in Beijing.</p><p>Huaqiang Fantawild, Sunac, Songcheng, Chimelong and other parks gave up the first-and second-tier cities with relatively fierce competition from the very beginning, and instead chose to give full play to their strengths in their own advantageous areas.</p><p><b>Rich and interesting entertainment facilities</b></p><p>Thrilling roller coasters, dreamy merry-go-rounds, huge castles, realistic 4D technology... these have become the \"standard\" of theme parks, and these entertainment facilities and corresponding visual presentation technologies have been updated and iterated.</p><p>The collision between new technology and old technology can be clearly felt at Universal Studios Beijing.</p><p>A Up owner of Station B who went to punch in said that the experience of Minions was many levels higher than that of Harry Potter.</p><p>It is reported that the Minions section uses the latest 4D presentation technology, and the picture quality is high. However, \"Harry Potter's Forbidden Journey\" still uses the presentation technology of the first Harry Potter theme park in Universal Studios Orlando in 2007, and the picture is very blurry.</p><p>In terms of entertainment facilities and presentation technology, Huaqiang Fantawild can be regarded as one of the domestic enterprises with strong voice. Thanks to starting with the sale of special film equipment, the founder of Huaqiang Fantawild once said in the media: \"We all have Disney's technology.\"</p><p><img src=\"https://static.tigerbbs.com/1839ed832cf7272eff09472a111f37f6\" tg-width=\"599\" tg-height=\"412\" referrerpolicy=\"no-referrer\"></p><p>This is an important opportunity for Huaqiang Fantawild to gradually transform from indoor amusement facilities to outdoor theme parks, and it also makes up for its relative disadvantage in real estate-after all, \"fun\" is the key factor for theme parks to attract tourists.</p><p>It is reported that Huaqiang Fangte opens theme parks mainly through cooperation with various investors for investment and construction. Huaqiang Fangte provides special equipment, installation services, special effects engineering construction services or engineering management services.</p><p>However, the operators of theme parks such as OCT, Sunac and Chimelong, which already have real estate operation capabilities, can only choose third-party cooperation to introduce equipment and technology.</p><p><b>Mature IP and operational capabilities</b></p><p>This is the top priority of the theme park.</p><p>Most of the IPs owned by Disney and Universal Studios have formed some kind of cultural symbol, which has had a far-reaching impact on a global scale.</p><p>For example, Harry Potter fans, Star Wars fans and Lord of the Rings fans all have a mature internal slang system (such as spells and elves), and they are usually proud of showing their unique fan characteristics, which makes the corresponding IP periphery have more room for development.</p><p>What fan would go on a forbidden trip to Harry Potter at Universal Studios without buying a magic wand and drinking a butterbeer? Which fan will be willing to return empty-handed when he sees the helmet of the storm soldier when he goes to the Disney Mall?</p><p>What's more, most of these IPs have been accumulated for decades, and the content of the story has been constantly pushed out to cater to the appetite of new and old fans, which has had a huge influence on generations, and these influences have given birth to the strong spending power of tourists visiting theme parks.</p><p>But these alone are not enough. The soul of the theme park is to make these IPs \"live\" in the park and bring visitors a realistic immersive experience.</p><p>Disney has always been known for its dreams, because it is a fairy tale kingdom, in which all the fairy tale characters are vivid. They will greet and interact with tourists, and they will also tell some narrations that conform to the \"people's design\". When you walk into the park, you will feel happy from the bottom of your heart. This kind of appeal is unprecedented in many theme parks in China before.</p><p>Universal Studios is not far behind. Some netizens said that when you come to Harry Potter's forbidden trip and want to find a charging treasure, the staff will tell you, \"That's for Muggles, we don't have it here.\"</p><p>A wave of the induction wand will produce scene changes, and myrtle crying in the toilet... are all important designs to increase the sense of experience.</p><p><img src=\"https://static.tigerbbs.com/44c7be8377cea3265e872dbc9f4f80e6\" tg-width=\"500\" tg-height=\"328\" referrerpolicy=\"no-referrer\"></p><p>To present these IPs as authentically as possible, it benefits from the \"Chinese main investment + American main operation\" model of Shanghai Disneyland and Universal Studios Beijing.</p><p>Shanghai Disneyland is jointly invested by Shendi Group and Disney to set up three enterprises, two of which are owner companies and the third is management companies.</p><p>Just like the hotel management mode, the management company jointly established by both parties accepts the entrustment of the owner company and is responsible for the creativity, design, development and daily operation management of the project. This is also the first time in an overseas park invested by Disney.</p><p>Universal Studios Beijing also borrowed from this model, with Beijing Shouhuan Cultural Tourism Investment Co., Ltd. (referred to as \"Shouhuan Investment\") and Universal Theme Company and Resort (<a href=\"https://laohu8.com/S/CMCSK\">Comcast</a>NBC Universal's business segments) joint venture operations, with equity ratios of 70% and 30%.</p><p>The advantage of this is that, as the holder of IP, the United States has a better understanding of the true value of IP, so that it can maximize these values.</p><p>Back in the theme parks in China, they are somewhat a clever woman in IP operation.</p><p>OCT and Sunac basically adopt the way of cooperating with mature IP in China, which is more like branding IP on their own amusement facilities or staff, so as to attract the audience of a certain IP to come and play.</p><p>For example, Nanjing Happy Valley, which opened last year, was bound to Little Yellow Duck IP. In Nanjing, where \"no duck can swim out\", this IP is of course very popular, and its positioning is accurate.</p><p><img src=\"https://static.tigerbbs.com/4206f3e0889dc0dec204f2836239501e\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p><p>However, even if you have your own IP, it is still not easy to create an excellent sense of immersion. After all, the experience is a feeling that is both individual and subtle.</p><p>Located by Yangcheng Lake in Suzhou<a href=\"https://laohu8.com/S/300027\">Huayi Brothers</a>In the world of movies, there are many Huayi Brothers movie IPs such as \"If You Are the One\", \"Di Renjie's Empire of Heaven\" and \"Tai Chi\", but in terms of IP operation-many projects have real scenes but no interaction, which can neither bring real immersive experience to consumers, nor can it increase user stickiness, leaving only monotonous photos as souvenirs, and ultimately the crowd is left out.</p><p>Huaqiang Fangte has certain uniqueness and originality in the operation of its own IP and theme parks, and \"<b>Tourism + Real Estate</b>\"The model is different, Huaqiang Fantawild's strategy is\"<b>Culture + Technology</b>\", take the route that content is king.</p><p>But it is destined to be a very difficult road to keep up with Disney.</p><p>In the past ten years, Huaqiang Fantawild has created more than 30 self-owned IPs, and the only one that is truly well-known is \"Bear Infested\". However, this 8-year-old IP has not brought much color to Huaqiang Fantawild's theme park.</p><p>The reason is that the main audience of Bear Infested is children, but the target consumers of the theme park are young people aged 20 ~ 30. The aging of IP, the dislocation of target groups and the reduction of attractiveness naturally make the realization of theme parks even more weak.</p><p>Huaqiang Fantawild hopes to create an IP for higher age groups, so it took five years to launch the fantasy animation film \"City of Figurines\".</p><p>The film was released this summer, and the box office was fierce-although the special effects were good, the plot and characterization were \"crotch-stretching\", and the setting of national style elements such as Terracotta Warriors and Horses and Shan Hai Jing was too confusing, and it also \"brought\" many explosive elements of Pixar and Disney animated films...</p><p>Children may not understand it. In front of well-informed adult consumers, the originality proclaimed by the producer of \"City of Figurines\" is like a joke.</p><p><b>Theme park blessings are yet to come</b></p><p>Theme parks belong to the asset-heavy operation mode, and the remaining theme parks that are still in business today are the products of the big waves in the past ten years.</p><p>According to statistics, within ten years since Shanghai Disneyland announced its construction, 80% of theme parks have closed down successively, such as the famous Oriental Park, \"Tiangong Tribe\" and Orange Island Beach Park.</p><p>According to previous reports, around 2016, there were about 300 domestic theme parks with an investment of more than 50 million yuan, 70% of which were at a loss, 20% were flat, and only 10% were profitable. About 150 billion yuan was stuck in the investment of theme parks.</p><p>Today's theme parks have gradually got rid of the state of barbaric growth at that time, and have begun to move towards the development path of scientific planning and IP operation, and their operations are on the right track.</p><p>Judging from the financial report in the first half of this year, OCT's comprehensive tourism business achieved revenue of 18.922 billion yuan and gross profit of 4.685 billion yuan, a year-on-year increase of 89.93% and 24.98% respectively. The company's 26 scenic spots, 25 hotels, 1 travel agency, 6 open tourist areas, and 1 tourist performing arts received a total of 28.482 million tourists, recovering to 160% of the same period in 2019.</p><p>The performance of Sunac's cultural tourism sector is also growing rapidly. In the first half of this year, the operating income was 2.61 billion yuan, a year-on-year increase of 166%; The passenger flow reached 72.01 million, a year-on-year increase of 103%.</p><p>Although Huaqiang Fantawild has its own troubles, the operating income of theme parks in the first half of this year was 1.789 billion yuan, a year-on-year increase of 37.37%. In addition, in the first half of 2021, the tourist reception of Fantawild Theme Park has recovered to nearly 90% of the same period in 2019.</p><p>These achievements also benefited from consumers' \"retaliatory\" travel and consumption after the epidemic. In addition, consumers' consumption mentality has also undergone some changes-whether it is playing, shopping or dining, they are more pursuing novel and fun offline experiences, which is an excellent opportunity for theme parks.</p><p>Therefore,<b>Constantly bringing freshness to consumers has become extra important. Differentiated positioning, equipment update and iteration, technology upgrade... these have all become the eternal topics and investment focus of theme park operators.</b></p><p>Now that you want to enter the theme park, latecomers need to solve more and more problems.</p><p>Take Pop Mart as an example. Its brand is attracted by many trendy consumers in first-and second-tier cities, so the location of the park is bound to be limited to this range, and the cost is bound to increase substantially;</p><p>In terms of the reserve of park facilities and technologies, Pop Mart is likely to only adopt the supplier cooperation system, instead of independent research and development. Even if it does self-research, it is not as good as its predecessors who have accumulated years of experience;</p><p>In terms of the operation of its own IP, most of Pop Mart's IPs are in the initial stage of development-that is, there is only a simple IP image, and there is no story or connotation behind it. Disney and Universal Studios, which hold multiple classic IPs in the same hand, are not at all. The level of magnitude is not even more universal than Huaqiang Fantawild's \"Bear Infested\";</p><p>Plus<a href=\"https://laohu8.com/S/SONY\">Sony</a>, Nintendo, Lego and other companies with massive mature IP, unique gameplay and culture are also eyeing this track...</p><p>It's difficult to successfully operate a theme park!</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/53bP0asYmXbrZnjajwdTNQ\">新零售商业评论</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/813c01a66ea8b058bb0f8a728d2c75e2","relate_stocks":{"09992":"泡泡玛特"},"source_url":"https://mp.weixin.qq.com/s/53bP0asYmXbrZnjajwdTNQ","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1181453869","content_text":"自2016年上海迪士尼开放后，国内便刮起了一股主题乐园建设风，欢乐谷、万达乐园、华强方特、长隆……个个都要和迪士尼比划比划。\n如今五年已过，上海迪士尼仍然人头攒动。北京环球影城即将热闹开幕，万达乐园易手融创，乐高乐园、索尼乐园等更多主题乐园正对中国市场虎视眈眈……中国主题乐园的发展迈入了新的篇章。\n前不久，泡泡玛特也加入战局，成立全资子公司北京泡泡玛特乐园管理有限公司，要将其IP版图继续扩张。\n然而，只有盲盒里的那些IP显然不行。我们帮泡泡玛特捋了捋，要经营一座主题乐园，他们还需要准备些什么。\n 经营一座主题乐园到底需要什么？\n一块地\n要建立一座主题乐园，首先必须要有一块地。\n国内许多游乐园运营方，如华侨城、融创以及此前的万达都是地产商，他们对于地皮的规划有着天然的优势。因此，欢乐谷、融创乐园等，走的都是“旅游+地产”的路线。\n上海迪士尼和北京环球影城为了能顺利拿地，都选择与当地政府、地产商进行合作。除了运营模式更加中西合璧之外，运营思路仍是“旅游+地产”。\n从具体区域选择来看，目前上海迪士尼和北京环球影城都在各自城市中的占据更优地理、交通等优势的强势区域（浦东新区、通州），后来者，如乐高乐园，就很难再拿到更好的地皮，只能屈居上海的金山区、北京的房山区这样的次优区域。\n华强方特、融创、宋城、长隆等乐园，则从一开始就放弃了竞争相对激烈的一二线城市，而是选择在自己的优势地区发挥特长。\n丰富有趣的娱乐设施\n惊险刺激的过山车，梦幻的旋转木马，巨大的城堡，逼真的4D技术……这些都成为了主题乐园的“标配”，并且这些娱乐设施和相应的视觉呈现技术一直在更新迭代。\n在北京环球影城就能明显地感受到新技术和旧技术的碰撞。\n一位前去打卡的B站Up主表示，小黄人的体验比哈利·波特上了许多个档次。\n据悉，小黄人版块使用了最新的4D呈现技术，画质高清。但“哈利·波特禁忌之旅”使用的，仍是2007年美国奥兰多环球影城内第一家哈利·波特主题乐园的呈现技术，画面十分模糊。\n在娱乐设施和呈现技术上，华强方特称得上是话语权较强的国内企业之一。得益于以销售特种电影设备起家，华强方特创始人曾在媒体上称：“迪士尼的技术我们都有。”\n\n这正是促使华强方特从室内游乐设施逐渐转型室外主题乐园的重要契机，也弥补了其在地产上的相对劣势——毕竟，“好玩”才是主题乐园吸引游客的关键因素。\n据悉，华强方特开设主题乐园主要是通过与各类投资者合作投资建设的方式，华强方特提供特种设备以及安装服务、特效工程建设服务或工程管理服务。\n而本就拥有地产运营能力的华侨城、融创、长隆等主题乐园的运营方，只能选择第三方合作的方式来引入设备和技术。\n成熟的IP及运营能力\n这是主题乐园的重中之重。\n迪士尼和环球影城所拥有的IP，大都已经形成了某种文化象征，在全球范围内产生了深远的影响。\n如哈利·波特迷、星球大战迷和魔戒迷们，都拥有一套成熟的内部黑话体系（如魔咒、精灵语），平时也以彰显自己独特的粉丝特征为荣，这便让相应的IP周边有了更多的发展空间。\n哪个粉丝去环球影城的哈利·波特禁忌之旅，会不买一根魔杖、不喝一杯黄油啤酒呢？哪个粉丝去迪士尼商城逛的时候，看到风暴兵的头盔会甘心空手而归呢？\n更何况这些IP大都已经有了数十年的积累，在故事内容上不断推陈出以新迎合新老粉丝的胃口，对几代人都产生了巨大的影响力，而这些影响力又催生出了逛主题乐园的游客的旺盛消费力。\n但光有这些还不够，主题乐园的灵魂是让这些IP在园区内“活”起来，带给游客逼真的沉浸式体验。\n迪士尼向来以梦幻著称，因为这就是一个童话王国，其中所有的童话人物都是鲜活的，会和游客打招呼互动，也会说出一些符合“人设”的旁白，走进乐园，会发自内心地感到快乐，这种感染力是此前国内许多主题乐园不曾有的。\n环球影城也不遑多让。有网友说，来到哈利·波特禁忌之旅，想找个充电宝，工作人员都会告诉你：“那是麻瓜用的，我们这儿没有。”\n挥一挥感应魔杖就会产生场景变化、厕所里哭泣的桃金娘……都是增加体验感的重要设计。\n\n要把这些IP尽可能原汁原味地呈现出来，得益于上海迪士尼和北京环球影城的“中方主投资+美方主运营”的模式。\n上海迪士尼由申迪集团与迪士尼共同投资设立了三家企业，其中两家是业主公司，第三家是管理公司。\n就像酒店的管理模式一样，双方合作成立的管理公司接受业主公司的委托，负责项目的创意、设计、开发和日常运营管理工作。这在迪士尼投资的海外乐园中也是第一次。\n北京环球影城同样借鉴了这个模式，由北京首寰文化旅游投资有限公司（简称“首寰投资”）和环球主题公司及度假区（康卡斯特NBC环球下属业务板块）合资经营，股权比例为70%和30%。\n这样做的好处是，作为IP的持有者，美方更了解IP真正的价值所在，从而能够将这些价值最大化。\n回到国内的主题乐园，他们在IP运营方面就多少有点巧妇难为无米之炊了。\n华侨城和融创基本采取的是和国内成熟IP合作的方式，更像是把IP贴牌在自家的游乐设施或者工作人员身上，从而吸引某个IP的受众前来游玩。\n如去年开业的南京欢乐谷，就和小黄鸭IP进行了绑定。在“没有一只鸭子能游出去”的南京，这个IP当然深受欢迎，也算定位准确。\n\n然而，即便有自有IP，要打造出色的沉浸感仍不是件容易的事，毕竟体验是一种既个性又微妙的感觉。\n坐落在苏州阳澄湖边的华谊兄弟电影世界，有《非诚勿扰》《狄仁杰之通天帝国》《太极》等多部华谊兄弟电影IP坐镇，但摆在IP运营上——许多项目空有实景却没有互动，既不能给消费者带来真正的沉浸式体验，更无法增加用户黏性，只剩下单调的拍照留念，最终门庭冷落。\n华强方特在自创IP和主题乐园的运营上有一定的独特性和原创性，和“旅游+地产”的模式不同，华强方特的战略是“文化+科技”，走内容为王的路线。\n但要想向迪士尼看齐，注定是一条非常难走的路。\n近十年来，华强方特打造了30余个自有IP，真正家喻户晓的只有《熊出没》。然而，这个有着8年历史的IP并没有为华强方特的主题乐园带来太多增色。\n究其原因，《熊出没》的主要受众是儿童，但主题公园的目标消费人群是20~30岁的年轻人。IP老化，目标人群错位，吸引力降低，自然使得主题公园的变现更加乏力。\n华强方特希望打造一个面向更高年龄层的IP，于是历时5年推出了奇幻题材的动漫电影《俑之城》。\n该片今年暑期上映，票房惨烈——特效虽好，但剧情、人物塑造“拉胯”，包含兵马俑、山海经等国风元素的设定太过混乱，还“拿来”了不少皮克斯、迪士尼动画电影的爆款元素……\n小朋友们可能看不懂，在见多识广的成人消费者面前，《俑之城》制作方自诩的原创像个笑话。\n 主题乐园的福气还在后头\n主题乐园属于重资产的运营模式，如今剩下的这些仍在营业的主题乐园，都是近十年来大浪淘沙下的产物。\n据统计，自上海迪士尼宣布建设开始的十年内，有80%的主题乐园先后倒闭，比如著名的东方乐园、“天工部落”、橘子洲沙滩乐园等。\n据此前报道，2016年前后国内主题乐园投资在5000万元以上的有300家左右，70%处于亏损状态，20%持平，只有10%实现盈利，约有1500亿元资金套牢在主题乐园的投资中。\n如今的主题乐园已经逐渐摆脱当时野蛮生长的状态，开始走向科学规划、IP运营的发展路径，运营也走上了正轨。\n从今年上半年的财报来看，华侨城的旅游综合业务实现收入189.22亿元、毛利46.85亿元，分别同比增长89.93%、24.98%。公司旗下26家景区、25家酒店、1家旅行社、6家开放式旅游区、1台旅游演艺共接待游客2848.2万人次，恢复至2019年同期的160%。\n融创文旅板块业绩也在快速增长，今年上半年营业收入26.1亿元，同比增长166%；客流量达7201万人次，同比提升103%。\n华强方特虽然有着自己的困扰，但今年上半年主题公园运营收入17.89亿元，同比增37.37%。此外，2021上半年，方特主题公园游客接待已恢复至2019年同期的近九成。\n这些成绩也得益于疫情之后，消费者们的“报复性”旅游、消费。此外，消费者们的消费心态也发生了些许转变——无论是游玩、购物还是餐饮，他们都更追求新奇、好玩的线下体验，这对主题乐园来说是绝佳的机遇。\n因此，不断为消费者带来新鲜感变得格外重要。差异化的定位、设备的更新迭代、技术的升级……这些都成为了主题乐园运营者永恒的话题和投入的重点。\n现在想入局主题乐园，后来者需要解决的问题越来越多。\n就拿泡泡玛特为例，其品牌受众多为一二线城市的新潮消费者，那么乐园的选址就势必只能限定在这个范围，成本必然大幅度增加；\n在乐园设施和技术的储备上，泡泡玛特很可能只能采取供应商合作制，而不可能自主研发，就算自研，也比不上有多年经验积累的前辈们；\n在自有IP的运营上，泡泡玛特的IP大多处在发展的初级阶段——即只有一个简单的IP形象，背后没有故事和内涵，同手握多个经典IP的迪士尼、环球影城根本不在一个量级水平，甚至比不上华强方特的《熊出没》更具普适性；\n再加上索尼、任天堂、乐高等拥有海量成熟IP、独特玩法和文化的企业也正对这一个赛道虎视眈眈……\n想成功运营一座主题乐园，难着呢！","news_type":1,"symbols_score_info":{"09992":0.9}},"isVote":1,"tweetType":1,"viewCount":533,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886595911,"gmtCreate":1631603011233,"gmtModify":1676530587147,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"htmlText":"jj","listText":"jj","text":"jj","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/886595911","repostId":"1125233732","repostType":4,"repost":{"id":"1125233732","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":1631585404,"share":"https://ttm.financial/m/news/1125233732?lang=en_US&edition=fundamental","pubTime":"2021-09-14 10:10","market":"hk","language":"zh","title":"Chuangsheng Group-B will launch its IPO today, and the admission fee is HK $8080.62","url":"https://stock-news.laohu8.com/highlight/detail?id=1125233732","media":"老虎资讯综合","summary":"9月14日，创胜集团-B发布公告，将于9月14日-17日招股，公司拟发行4033万股股份，其中公开发售403.3万股，国际发售3629.7万股，每股发行价15.8-16.0港元，每手500股，预期将于","content":"<p>On September 14, Chuangsheng Group-B announced that it will issue an IPO from September 14 to 17. The company plans to issue 40.33 million shares, including 4.033 million shares for public offering and 36.297 million shares for international offering. The issue price per share is 15.8-16.0 Hong Kong dollars, 500 shares per lot, is expected to be listed on September 29.<img src=\"https://static.tigerbbs.com/9ba29eba878cdee288429ad8a16f9d00\" tg-width=\"1042\" tg-height=\"832\" referrerpolicy=\"no-referrer\"><b>Subscription ladder:</b></p><p>There are 500 shares per lot, and the admission fee is HK $8080.62.</p><p>The threshold for Group B is 400,000 shares, and the funds required for subscription are approximately HK $6,464,492.80.<img src=\"https://static.tigerbbs.com/9f1c34f08eb4c20019a01f9acc63f14f\" tg-width=\"1059\" tg-height=\"642\" referrerpolicy=\"no-referrer\">In terms of cornerstone investors, a number of cornerstone investors agreed to subscribe for the number of offer shares available for subscription at the offer price, totaling approximately US $68 million, including LAV, Temasek, QIA, and China State-owned Enterprise Structural Adjustment Fund.<img src=\"https://static.tigerbbs.com/0050cc39e3f722d8bdbffca2c78ed928\" tg-width=\"771\" tg-height=\"551\" referrerpolicy=\"no-referrer\">In terms of financial data, the company<b>There are currently no products approved for commercial sale and therefore no revenue has been generated from product sales</b>Which generates substantially all of its revenue from providing CDMO services to customers, primarily pharmaceutical and biotechnology companies, under CDMO contracts.</p><p>During the Track Record Period, the Company was not profitable and incurred operating losses. In 2019, 2020 and the first three months of 2021, the company achieved revenue of RMB 44.14 million, RMB 80.98 million and RMB 7.883 million, and recorded total comprehensive expenses for the year of RMB 438 million, RMB 320 million and RMB 71 million respectively during the same period.<img src=\"https://static.tigerbbs.com/74ddb8e79ea01953d562bc48dcc7a58d\" tg-width=\"1013\" tg-height=\"794\" referrerpolicy=\"no-referrer\">In terms of financing purposes, the company's net proceeds were 571 million yuan (assuming that the over-allotment option is not exercised, calculated based on the median issue price). According to the prospectus, the company intends to use the net proceeds from the share offering for the following purposes: 82% for the research and development of the company's pipeline product candidates, for ongoing and planned clinical and preclinical trials, preparation for registration and filing, and other commercialization Funding for steps or activities related to the company's four flagship products; 8% was used to fund the business development of pipeline expansion and technology development; 10% for general working capital and general operating expenses.</p><p>Chuangsheng Group is a clinical-stage biopharmaceutical company integrating discovery, research, development, manufacturing and business expansion capabilities. As of the Latest Practicable Date, the Company has independently discovered and developed eight of the nine drug candidates, covering proven, partially proven and novel biological pathways.</p><p>Among them, the core product is MSB2311 (a humanized PD-L1 monoclonal antibody (monoclonal antibody) drug candidate for solid tumors). The company has submitted a phase 1 end analysis report to the State Food and Drug Administration in January 2021.</p><p>The only drug candidate authorized for introduction is Blosozumab (TST002), a humanized sclerostin monoclonal antibody drug candidate for the treatment of osteoporosis, which was authorized by Eli Lilly in Greater China in 2019.</p><p>It is worth noting that the company is supported by world-renowned strategic investors and professional funds focusing on biotechnology<b>, shareholders include Eli Lilly Asia Fund, Temasek, ARCH Ventures Partners, China State-owned Enterprise Structural Adjustment Fund, Teng Yue Partners, Hillhouse Capital and Sequoia Capital China Fund, etc.</b></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Chuangsheng Group-B will launch its IPO today, and the admission fee is HK $8080.62</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\">\nChuangsheng Group-B will launch its IPO today, and the admission fee is HK $8080.62\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\">2021-09-14 10:10</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On September 14, Chuangsheng Group-B announced that it will issue an IPO from September 14 to 17. The company plans to issue 40.33 million shares, including 4.033 million shares for public offering and 36.297 million shares for international offering. The issue price per share is 15.8-16.0 Hong Kong dollars, 500 shares per lot, is expected to be listed on September 29.<img src=\"https://static.tigerbbs.com/9ba29eba878cdee288429ad8a16f9d00\" tg-width=\"1042\" tg-height=\"832\" referrerpolicy=\"no-referrer\"><b>Subscription ladder:</b></p><p>There are 500 shares per lot, and the admission fee is HK $8080.62.</p><p>The threshold for Group B is 400,000 shares, and the funds required for subscription are approximately HK $6,464,492.80.<img src=\"https://static.tigerbbs.com/9f1c34f08eb4c20019a01f9acc63f14f\" tg-width=\"1059\" tg-height=\"642\" referrerpolicy=\"no-referrer\">In terms of cornerstone investors, a number of cornerstone investors agreed to subscribe for the number of offer shares available for subscription at the offer price, totaling approximately US $68 million, including LAV, Temasek, QIA, and China State-owned Enterprise Structural Adjustment Fund.<img src=\"https://static.tigerbbs.com/0050cc39e3f722d8bdbffca2c78ed928\" tg-width=\"771\" tg-height=\"551\" referrerpolicy=\"no-referrer\">In terms of financial data, the company<b>There are currently no products approved for commercial sale and therefore no revenue has been generated from product sales</b>Which generates substantially all of its revenue from providing CDMO services to customers, primarily pharmaceutical and biotechnology companies, under CDMO contracts.</p><p>During the Track Record Period, the Company was not profitable and incurred operating losses. In 2019, 2020 and the first three months of 2021, the company achieved revenue of RMB 44.14 million, RMB 80.98 million and RMB 7.883 million, and recorded total comprehensive expenses for the year of RMB 438 million, RMB 320 million and RMB 71 million respectively during the same period.<img src=\"https://static.tigerbbs.com/74ddb8e79ea01953d562bc48dcc7a58d\" tg-width=\"1013\" tg-height=\"794\" referrerpolicy=\"no-referrer\">In terms of financing purposes, the company's net proceeds were 571 million yuan (assuming that the over-allotment option is not exercised, calculated based on the median issue price). According to the prospectus, the company intends to use the net proceeds from the share offering for the following purposes: 82% for the research and development of the company's pipeline product candidates, for ongoing and planned clinical and preclinical trials, preparation for registration and filing, and other commercialization Funding for steps or activities related to the company's four flagship products; 8% was used to fund the business development of pipeline expansion and technology development; 10% for general working capital and general operating expenses.</p><p>Chuangsheng Group is a clinical-stage biopharmaceutical company integrating discovery, research, development, manufacturing and business expansion capabilities. As of the Latest Practicable Date, the Company has independently discovered and developed eight of the nine drug candidates, covering proven, partially proven and novel biological pathways.</p><p>Among them, the core product is MSB2311 (a humanized PD-L1 monoclonal antibody (monoclonal antibody) drug candidate for solid tumors). The company has submitted a phase 1 end analysis report to the State Food and Drug Administration in January 2021.</p><p>The only drug candidate authorized for introduction is Blosozumab (TST002), a humanized sclerostin monoclonal antibody drug candidate for the treatment of osteoporosis, which was authorized by Eli Lilly in Greater China in 2019.</p><p>It is worth noting that the company is supported by world-renowned strategic investors and professional funds focusing on biotechnology<b>, shareholders include Eli Lilly Asia Fund, Temasek, ARCH Ventures Partners, China State-owned Enterprise Structural Adjustment Fund, Teng Yue Partners, Hillhouse Capital and Sequoia Capital China Fund, etc.</b></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/819e63bbaff7db212baae89a294e955b","relate_stocks":{"06628":"创胜集团-B"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125233732","content_text":"9月14日，创胜集团-B发布公告，将于9月14日-17日招股，公司拟发行4033万股股份，其中公开发售403.3万股，国际发售3629.7万股，每股发行价15.8-16.0港元，每手500股，预期将于9月29日上市。申购阶梯：\n每手500股，入场费8080.62港元。\n乙组门槛为40万股，申购所需资金约6464492.80港元。基石投资者方面，多名基石投资者同意按发售价认购可供认购的发售股份数目，总额约6800万美元，包括LAV、淡马锡、QIA、中国国有企业结构调整基金。财务数据方面，公司目前尚无获准可进行商业销售的产品，因此并未产生任何产品销售收益，其绝大部分收益来自根据CDMO合约向客户（主要为制药及生物科技公司）提供CDMO服务。\n于往绩记录期公司尚未盈利，且产生经营亏损。于2019年、2020年及2021年前三个月，公司实现收入人民币4414万元、8098万元及788.3万元，同期录得年内全面开支总额分别为人民币4.38亿元、3.20亿元及0.71亿元。筹资用途方面，公司所得款项净额5.71亿元(假设超额配股权未获行使，以发行价中位数计算)。根据招股书，公司拟将股份发售所得款项净额用于以下用途：82%用于公司管线候选产品的研发、为进行中及计划中的临床及临床前试验、筹备注册备案以及其他与商业化公司四款主打产品有关的步骤或活动拨资；8%用于为扩充管线及开发技术的业务发展拨资；10%用作一般营运资金及一般营运费用。\n创胜集团是一家集发现、研究、开发、制造及业务拓展能力为一体的临床阶段生物制药公司。截至最后实际可行日期，公司已自主发现及开发九种候选药物中的八种药物，涵盖已验证的、部分验证的及新型生物通路。\n其中核心产品是MSB2311（一种针对实体瘤的人源化PD-L1单克隆抗体（单抗）候选药物），公司已于2021年1月向国家药监局提交1期结束分析报告。\n唯一授权引进的候选药物为Blosozumab（TST002）（一种用于治疗骨质疏松的人源化硬骨素单克隆抗体候选药物），于2019年自礼来授权引进该药在大中华区权利。\n值得注意的是，公司获得全球知名战略投资者及专注于生物科技的专业基金的支持，股东包括礼来亚洲基金、淡马锡、ARCH Ventures Partners、中国国有企业结构调整基金、Teng Yue Partners、高瓴资本及红杉资本中国基金等。","news_type":1,"symbols_score_info":{"06628":0.9}},"isVote":1,"tweetType":1,"viewCount":598,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":880590433,"gmtCreate":1631063436122,"gmtModify":1676530456388,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"htmlText":"Jj","listText":"Jj","text":"Jj","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/880590433","repostId":"1195372778","repostType":2,"repost":{"id":"1195372778","kind":"news","weMediaInfo":{"introduction":"全球第五大财经门户网站Investing.com中国官方微信，提供全球各国海量金融资讯和实时行情数据，包括股票股指、外汇、期货、基金、债券、加密货币等。关注全球金融市场动态的投资者千万不可错过。","home_visible":1,"media_name":"英为财情Investing","id":"92","head_image":"https://static.tigerbbs.com/406e2b4996e14cd8a66a2a6864ef4313"},"pubTimestamp":1631013437,"share":"https://ttm.financial/m/news/1195372778?lang=en_US&edition=fundamental","pubTime":"2021-09-07 19:17","market":"us","language":"zh","title":"Goldman Sachs is bearish on the U.S. three times, S&P 500 shows disdain","url":"https://stock-news.laohu8.com/highlight/detail?id=1195372778","media":"英为财情Investing","summary":"周一，高盛经济学家Ronnie Walker在给客户的一份报告中写道，预计美国2021年的整体扩张速度为5.7%，低于8月底公布的6%预期，并将2021年底的失业率预期从此前的4.1%上调至4.2%。","content":"<p>On Monday, Goldman Sachs economist Ronnie Walker wrote in a note to clients that he expects the overall U.S. expansion rate in 2021 to be 5.7%, down from the 6% forecast released at the end of August, and raised his unemployment rate forecast for the end of 2021 from The previous 4.1% was raised to 4.2%. Because the prospect facing American consumers will be more \"difficult\" than previously expected.</p><p>Walker expects the weak growth to continue into next year, after which it is expected to accelerate. U.S. economic growth is expected to accelerate in 2022, and the forecast for 2022 is raised from 4.5% to 4.6%.</p><p>Explaining the rationale for lowering the 2021 economic forecast, Walker wrote that U.S. consumer spending is expected to decrease with the emergence of the Delta variant, weakening fiscal support and the shift of consumer demand from goods to services; Supply chain disruptions have also affected inventory replenishment.</p><p><b>Wall Street is bearish on U.S. economy</b></p><p>This is not the first time that Goldman Sachs has been bearish on the U.S. economy. In fact, this is Goldman Sachs' three lowers of its U.S. economic growth forecast in the last two months. The first time was in July, lowering U.S. GDP growth forecasts for the third and fourth quarters by 1% to 8.5% and 5.0% respectively; The second time was in August, when the U.S. GDP forecast for the third quarter was lowered from 8.5% to 5.5%. Goldman Sachs also lowered its full-year GDP forecast for 2021 from 6.4% to 6% in the revised forecast. The U.S. economy will grow by 4.5%.</p><p>Not only Goldman Sachs, but also Morgan Stanley last week sharply lowered its forecast for U.S. gross domestic product (GDP) in the third quarter, from 6.5% to 2.9%. After revising down the third quarter GDP forecast, Morgan Stanley's U.S. GDP growth forecast for this year is 5.6%, which is lower than Goldman Sachs' lowered full-year growth forecast.</p><p>The stock market is a barometer of the economy. How does the U.S. stock market perform when Wall Street is so bearish on the U.S. economy?</p><p><b>U.S. stocks are bullish</b></p><p>The U.S. S&P 500 and Nasdaq Composite hit new highs last week, and the U.S. stock market is still immersed in a bull market spree. But if we look closely, we will find that investors are adjusting their portfolios to cope with possible shocks in the stock market.</p><p>Utilities are the best-performing sector of the S&P 500 so far this quarter, up 10.2%. They were followed by other favourite sectors of conservative investors, including real estate and healthcare.</p><p>In the derivatives market, the spread between the front-month CBOE VI futures contract and the VIX index is higher than it has been about 85% of the time in the past five years. This suggests that some investors expect the calm in the stock market to be replaced by more violent price movements in the coming weeks and months.</p><p>Meanwhile, the Japanese yen and Swiss franc, which are regarded as safe-haven assets in times of uncertainty, outperformed most G10 currencies this quarter. This has been a good year for market returns, but it has also been a bull market with a fairly defensive overtone.</p><p>U.S. stocks have not fallen by more than 5% for 292 calendar days, which is almost three times the average length since World War II. Many people are increasingly uneasy about this. Rising valuations, slowing economic growth and signs of excessive speculation have added to their concerns.</p><p>Some analysts also believe that some funds are flowing into defensive stocks, which may be more related to investors' pursuit of yields than worries that the market is about to collapse. The yield of the S&P 500 utilities index is about 3%, while the yield of the benchmark 10-year U.S. Treasury bond was about 1.33% on Friday.</p><p><b>sum up</b></p><p>Defensive stocks are increasingly sought after by the market, which may be due to the rotation of sectors or the increasing potential risks in the market. In any case, you can go further by following market trends and being ready for possible upheaval.</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>Goldman Sachs is bearish on the U.S. three times, S&P 500 shows disdain</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\">\nGoldman Sachs is bearish on the U.S. three times, S&P 500 shows disdain\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/92\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/406e2b4996e14cd8a66a2a6864ef4313);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">英为财情Investing </p>\n<p class=\"h-time smaller\">2021-09-07 19:17</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On Monday, Goldman Sachs economist Ronnie Walker wrote in a note to clients that he expects the overall U.S. expansion rate in 2021 to be 5.7%, down from the 6% forecast released at the end of August, and raised his unemployment rate forecast for the end of 2021 from The previous 4.1% was raised to 4.2%. Because the prospect facing American consumers will be more \"difficult\" than previously expected.</p><p>Walker expects the weak growth to continue into next year, after which it is expected to accelerate. U.S. economic growth is expected to accelerate in 2022, and the forecast for 2022 is raised from 4.5% to 4.6%.</p><p>Explaining the rationale for lowering the 2021 economic forecast, Walker wrote that U.S. consumer spending is expected to decrease with the emergence of the Delta variant, weakening fiscal support and the shift of consumer demand from goods to services; Supply chain disruptions have also affected inventory replenishment.</p><p><b>Wall Street is bearish on U.S. economy</b></p><p>This is not the first time that Goldman Sachs has been bearish on the U.S. economy. In fact, this is Goldman Sachs' three lowers of its U.S. economic growth forecast in the last two months. The first time was in July, lowering U.S. GDP growth forecasts for the third and fourth quarters by 1% to 8.5% and 5.0% respectively; The second time was in August, when the U.S. GDP forecast for the third quarter was lowered from 8.5% to 5.5%. Goldman Sachs also lowered its full-year GDP forecast for 2021 from 6.4% to 6% in the revised forecast. The U.S. economy will grow by 4.5%.</p><p>Not only Goldman Sachs, but also Morgan Stanley last week sharply lowered its forecast for U.S. gross domestic product (GDP) in the third quarter, from 6.5% to 2.9%. After revising down the third quarter GDP forecast, Morgan Stanley's U.S. GDP growth forecast for this year is 5.6%, which is lower than Goldman Sachs' lowered full-year growth forecast.</p><p>The stock market is a barometer of the economy. How does the U.S. stock market perform when Wall Street is so bearish on the U.S. economy?</p><p><b>U.S. stocks are bullish</b></p><p>The U.S. S&P 500 and Nasdaq Composite hit new highs last week, and the U.S. stock market is still immersed in a bull market spree. But if we look closely, we will find that investors are adjusting their portfolios to cope with possible shocks in the stock market.</p><p>Utilities are the best-performing sector of the S&P 500 so far this quarter, up 10.2%. They were followed by other favourite sectors of conservative investors, including real estate and healthcare.</p><p>In the derivatives market, the spread between the front-month CBOE VI futures contract and the VIX index is higher than it has been about 85% of the time in the past five years. This suggests that some investors expect the calm in the stock market to be replaced by more violent price movements in the coming weeks and months.</p><p>Meanwhile, the Japanese yen and Swiss franc, which are regarded as safe-haven assets in times of uncertainty, outperformed most G10 currencies this quarter. This has been a good year for market returns, but it has also been a bull market with a fairly defensive overtone.</p><p>U.S. stocks have not fallen by more than 5% for 292 calendar days, which is almost three times the average length since World War II. Many people are increasingly uneasy about this. Rising valuations, slowing economic growth and signs of excessive speculation have added to their concerns.</p><p>Some analysts also believe that some funds are flowing into defensive stocks, which may be more related to investors' pursuit of yields than worries that the market is about to collapse. The yield of the S&P 500 utilities index is about 3%, while the yield of the benchmark 10-year U.S. Treasury bond was about 1.33% on Friday.</p><p><b>sum up</b></p><p>Defensive stocks are increasingly sought after by the market, which may be due to the rotation of sectors or the increasing potential risks in the market. In any case, you can go further by following market trends and being ready for possible upheaval.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/55eb327f580527889cf30bafa92692ae","relate_stocks":{".SPX":"S&P 500 Index"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1195372778","content_text":"周一，高盛经济学家Ronnie Walker在给客户的一份报告中写道，预计美国2021年的整体扩张速度为5.7%，低于8月底公布的6%预期，并将2021年底的失业率预期从此前的4.1%上调至4.2%。因美国消费者面临的前景将比先前预期更为“艰难”。\nWalker预计疲弱的增长态势将延续到明年，此后料将加速增长。预计美国经济增长将在2022年加速，并将2022年预测值从4.5%上调至4.6%。\n在解释下调2021年经济预测的理由时，Walker写道，随着德尔塔变异株的出现，财政支持的减弱以及消费需求从商品转向服务，美国的消费支出料将减少；供应链中断也影响了库存补充。\n华尔街看空美国经济\n这不是高盛第一次看衰美国经济了，事实上这是高盛在最近的两个月中三次下调美国经济成长预期。第一次是在7月份，将美国第三季度和第四季度的GDP增长预期分别下调1%至8.5%和5.0%；第二次是在8月份，将美国第三季度美股GDP预期从8.5%下调至5.5%，高盛在修订后的预测中还将2021年全年GDP预测从6.4%下调至6%，预计2022年美国经济将增长4.5%。\n不仅是高盛，摩根士丹利上周也大幅下调了第三季美国国内生产总值(GDP)的预估，从增长6.5%调降至增长2.9%。下修三季度GDP预期后，摩根士丹利的美国今年全年GDP增速预期为5.6%，比高盛调降后的全年增速预期还低。\n股市是经济的晴雨表，在华尔街如此看空美国经济之下，美国股市表现如何呢？\n美股牛气冲天\n美国标准普尔500指数和纳斯达克综合指数上周再创新高，美国股市仍然沉浸在牛市的狂欢之中。但是我们仔细研究就会发现，投资者正在调整投资组合，以应对股市可能出现的震荡。\n公用事业类股是标普500指数本季度迄今为止表现最好的板块，涨幅为10.2%。紧随其后的是保守投资者的其他偏爱板块，包括房地产和医疗保健。\n在衍生品市场，近月芝加哥期权交易所波动率指数期货合约和VIX指数之间的价差比过去五年中约85%的时间都高。这表明，一些投资者预计在未来几周和几个月，股市的平静将被更剧烈的价格波动所取代。\n同时，在不确定时期被视为避险资产的日圆和瑞郎本季度的表现优于大多数G10货币。这是市场回报良好的一年，但这也是一个具有相当防卫色彩的牛市。\n美股已经有292个日历日没有出现5%以上的跌幅，这几乎是二战以来平均长度的三倍，许多人对此愈来愈觉得不安。估值上升、经济增长放缓以及过度投机的迹象，加剧了他们的担忧。\n也有分析师认为部分资金流入防御类股，可能更多与投资者追逐收益率有关，而不是担心市场即将崩溃。标普500公用事业指数的收益率约为3%，而指标美国10年期公债收益率周五为1.33%左右。\n总结\n防御类股越来越受到市场的追捧，可能是版块的轮换，也可能是市场潜在的风险在增加。不论如何，追随市场趋势并随时为可能发生的剧变做好准备才能走得更远。","news_type":1,"symbols_score_info":{".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":826,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":816721157,"gmtCreate":1630537330979,"gmtModify":1676530330874,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"htmlText":"Jj","listText":"Jj","text":"Jj","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/816721157","repostId":"2164819075","repostType":2,"repost":{"id":"2164819075","kind":"news","pubTimestamp":1630531740,"share":"https://ttm.financial/m/news/2164819075?lang=en_US&edition=fundamental","pubTime":"2021-09-02 05:29","market":"us","language":"zh","title":"Apple's ultimate product exposed in the Cook era! Unprecedented blockbuster new categories","url":"https://stock-news.laohu8.com/highlight/detail?id=2164819075","media":"超超","summary":"　　据报道，库克希望在任期结束前为苹果再开拓出一个新品类。可能很多人会自然想到Apple Car，但Gurman的观点却是虚拟现实/增强现实相关。库克明白，汽车不是一蹴而就的产品，还很遥远。况且机会要留给硅谷年轻人，他已无法超越自己的巅峰。　　当然，这也显得“鸡贼”...","content":"<p><html><body><div><div itemprop=\"articleBody\"><img src=\"https://article-fd.zol-img.com.cn/t_s640x2000/g6/M00/03/09/ChMkKWEsOCmIY18_AACS3EH7YKsAATO9wCUh7UAAJL0322.jpg\"/><div><div><div></div></div></div>Cook reportedly hopes to provide<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Open up a new category. Many people may naturally think of Apple Car, but Gurman's point of view is that virtual reality/augmented reality is related. Cook understands that cars are not a product that can be achieved overnight, and they are still far away. Besides, the opportunity should be reserved for young people in Silicon Valley, who can no longer surpass his peak.</p><p><span></span><img height=\"369\" src=\"https://article-fd.zol-img.com.cn/t_s640x2000/g6/M00/03/09/ChMkKWEsOCmIY18_AACS3EH7YKsAATO9wCUh7UAAJL0322.jpg\" width=\"553\"/></p><p>Of course, this also seems to be a \"chicken thief\". The automobile project is the icing on the cake. Once it fails, it will be \"ruined\".</p><p>According to the plan, Apple's mixed reality headset will be launched around 2022, and its augmented reality headset will have to wait until around 2025.</p><p>According to reports, Cook's salary contract ends in 2025, and he will most likely retire between 2025 and 2028. He has previously said that he should not stay at Apple in the next 10 years.</p><p><div><img src=\"https://2c.zol-img.com.cn/product/209_100x75/426/ceIMvcQduLQ.jpg\"/></p><p><strong>Apple Macbook Pro 13 (M1/8GB/256GB/8-core) Apple M1 processor, octa-core graphics, Retina display, Magic backlit keyboard</strong></p><p><zspan>[Dealer]</zspan>Jingdong Mall</p><p><zspan>[Product Selling Price]</zspan>9999 yuan</p><p>Enter to buy</p><p></div><div><img src=\"https://2e.zol-img.com.cn/product/209_100x75/428/ceuKx1GDAAurI.jpg\"/></p><p><strong>Apple MacBook Air 13 (M1/8GB/256GB/7-core) Apple M1 processor, seven-core graphics, Retina display, Magic backlit keyboard</strong></p><p>Gift</p><p><zspan>[Dealer]</zspan>Jingdong Mall</p><p><zspan>[Product Selling Price]</zspan>7999 yuan</p><p>Enter to buy</p><p></div>This article is an original article. If reprinted, please indicate the source: Apple's ultimate product exposure in Cook era! Unprecedented blockbuster new categories https://nb.zol.com.cn/775/7755068.html</p><p><div zpv-events-inview=\"article-cont-bottom-viewport\"></div><div><ul><li><img height=\"245\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g6/M00/0B/04/ChMkKmARHpeIDmP7AACzO3gPNxkAAI_PgG7XiQAALNT346.jpg\" width=\"310\"/></li><li><img height=\"120\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g6/M00/0B/04/ChMkKmARH4KICVugAABL6mLnMuUAAI_PwN2wj0AAEwC833.jpg\" width=\"160\"/></li><li><img height=\"120\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g2/M00/06/0D/ChMlWV7DUqGIEd4KAABSddzqzb8AAPQewBNvBIAAFKN718.jpg\" width=\"160\"/></li><li><img height=\"120\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g2/M00/00/0A/ChMlWl6yFS6ISPeRAABE3b1wTUQAAO30wCU8tkAAET1631.jpg\" width=\"160\"/></li><li><img height=\"120\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g2/M00/00/0A/ChMlWl6yFNSIDy5FAABY1BMw0loAAO30gFvVi8AAFjs005.jpg\" width=\"160\"/></li><li><img height=\"100\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g6/M00/04/05/ChMkKmAfh1iIV3AtAAEwe7C4uDsAAJjoAEpWccAATCT092.jpg\" width=\"640\"/></li></ul></div><div><span itemprop=\"url\">https://nb.zol.com.cn/775/7755068.html</span><span itemprop=\"indexUrl\">nb.zol.com.cn</span><span itemprop=\"isOriginal\">true</span><span itemprop=\"author\"><a href=\"https://laohu8.com/S/000931\">Zhongguancun</a>Online</span><span itemprop=\"isBasedOnUrl\">https://nb.zol.com.cn/775/7755068.html</span><span itemprop=\"genre\">report</span><span itemprop=\"wordCount\">804</span><span itemprop=\"description\">According to reports, Cook hopes to open up a new category for Apple before the end of his term. Many people may naturally think of Apple Car, but Gurman's point of view is that virtual reality/augmented reality is related. Cook understands that cars are not a product that can be achieved overnight, and they are still far away. Besides, the opportunity should be reserved for young people in Silicon Valley, who can no longer surpass his peak. Of course, this also seems \"chicken thief\"...</span></div></div></div></body></html></p>","source":"zol_stock","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 ultimate product exposed in the Cook era! Unprecedented blockbuster new categories</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 ultimate product exposed in the Cook era! Unprecedented blockbuster new categories\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">超超</strong><span class=\"h-time small\">2021-09-02 05:29</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><body><div><div itemprop=\"articleBody\"><img src=\"https://article-fd.zol-img.com.cn/t_s640x2000/g6/M00/03/09/ChMkKWEsOCmIY18_AACS3EH7YKsAATO9wCUh7UAAJL0322.jpg\"/><div><div><div></div></div></div>Cook reportedly hopes to provide<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Open up a new category. Many people may naturally think of Apple Car, but Gurman's point of view is that virtual reality/augmented reality is related. Cook understands that cars are not a product that can be achieved overnight, and they are still far away. Besides, the opportunity should be reserved for young people in Silicon Valley, who can no longer surpass his peak.</p><p><span></span><img height=\"369\" src=\"https://article-fd.zol-img.com.cn/t_s640x2000/g6/M00/03/09/ChMkKWEsOCmIY18_AACS3EH7YKsAATO9wCUh7UAAJL0322.jpg\" width=\"553\"/></p><p>Of course, this also seems to be a \"chicken thief\". The automobile project is the icing on the cake. Once it fails, it will be \"ruined\".</p><p>According to the plan, Apple's mixed reality headset will be launched around 2022, and its augmented reality headset will have to wait until around 2025.</p><p>According to reports, Cook's salary contract ends in 2025, and he will most likely retire between 2025 and 2028. He has previously said that he should not stay at Apple in the next 10 years.</p><p><div><img src=\"https://2c.zol-img.com.cn/product/209_100x75/426/ceIMvcQduLQ.jpg\"/></p><p><strong>Apple Macbook Pro 13 (M1/8GB/256GB/8-core) Apple M1 processor, octa-core graphics, Retina display, Magic backlit keyboard</strong></p><p><zspan>[Dealer]</zspan>Jingdong Mall</p><p><zspan>[Product Selling Price]</zspan>9999 yuan</p><p>Enter to buy</p><p></div><div><img src=\"https://2e.zol-img.com.cn/product/209_100x75/428/ceuKx1GDAAurI.jpg\"/></p><p><strong>Apple MacBook Air 13 (M1/8GB/256GB/7-core) Apple M1 processor, seven-core graphics, Retina display, Magic backlit keyboard</strong></p><p>Gift</p><p><zspan>[Dealer]</zspan>Jingdong Mall</p><p><zspan>[Product Selling Price]</zspan>7999 yuan</p><p>Enter to buy</p><p></div>This article is an original article. If reprinted, please indicate the source: Apple's ultimate product exposure in Cook era! Unprecedented blockbuster new categories https://nb.zol.com.cn/775/7755068.html</p><p><div zpv-events-inview=\"article-cont-bottom-viewport\"></div><div><ul><li><img height=\"245\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g6/M00/0B/04/ChMkKmARHpeIDmP7AACzO3gPNxkAAI_PgG7XiQAALNT346.jpg\" width=\"310\"/></li><li><img height=\"120\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g6/M00/0B/04/ChMkKmARH4KICVugAABL6mLnMuUAAI_PwN2wj0AAEwC833.jpg\" width=\"160\"/></li><li><img height=\"120\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g2/M00/06/0D/ChMlWV7DUqGIEd4KAABSddzqzb8AAPQewBNvBIAAFKN718.jpg\" width=\"160\"/></li><li><img height=\"120\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g2/M00/00/0A/ChMlWl6yFS6ISPeRAABE3b1wTUQAAO30wCU8tkAAET1631.jpg\" width=\"160\"/></li><li><img height=\"120\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g2/M00/00/0A/ChMlWl6yFNSIDy5FAABY1BMw0loAAO30gFvVi8AAFjs005.jpg\" width=\"160\"/></li><li><img height=\"100\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g6/M00/04/05/ChMkKmAfh1iIV3AtAAEwe7C4uDsAAJjoAEpWccAATCT092.jpg\" width=\"640\"/></li></ul></div><div><span itemprop=\"url\">https://nb.zol.com.cn/775/7755068.html</span><span itemprop=\"indexUrl\">nb.zol.com.cn</span><span itemprop=\"isOriginal\">true</span><span itemprop=\"author\"><a href=\"https://laohu8.com/S/000931\">Zhongguancun</a>Online</span><span itemprop=\"isBasedOnUrl\">https://nb.zol.com.cn/775/7755068.html</span><span itemprop=\"genre\">report</span><span itemprop=\"wordCount\">804</span><span itemprop=\"description\">According to reports, Cook hopes to open up a new category for Apple before the end of his term. Many people may naturally think of Apple Car, but Gurman's point of view is that virtual reality/augmented reality is related. Cook understands that cars are not a product that can be achieved overnight, and they are still far away. Besides, the opportunity should be reserved for young people in Silicon Valley, who can no longer surpass his peak. Of course, this also seems \"chicken thief\"...</span></div></div></div></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://nb.zol.com.cn/775/7755068.html\">超超</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/0d8ada6a43017d400bcffc8d2d50c562","relate_stocks":{"AAPL":"苹果"},"source_url":"http://nb.zol.com.cn/775/7755068.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164819075","content_text":"据报道，库克希望在任期结束前为苹果再开拓出一个新品类。可能很多人会自然想到Apple Car，但Gurman的观点却是虚拟现实/增强现实相关。库克明白，汽车不是一蹴而就的产品，还很遥远。况且机会要留给硅谷年轻人，他已无法超越自己的巅峰。　　当然，这也显得“鸡贼”，汽车项目做成了那叫锦上添花，一旦失败可就是“身败名裂”了。　　按计划，苹果的混合现实头显2022年左右推出、增强现实头显则要等到2025年左右。　　报道称，库克的工资合同到2025年结束，他大概率会在2025年到2028年之间退休。他此前曾表示，下一个10年自己应该不会呆在苹果了。苹果Macbook Pro 13(M1/8GB/256GB/8核) Apple M1处理器，八核核心显卡，视网膜显示屏，妙控背光键盘[经销商] 京东商城[产品售价] 9999元进入购买苹果MacBook Air 13(M1/8GB/256GB/7核) Apple M1处理器，七核核心显卡，视网膜显示屏，妙控背光键盘赠[经销商] 京东商城[产品售价] 7999元进入购买本文属于原创文章，如若转载，请注明来源：库克时代苹果终极产品曝光！前所未见的重磅新品类https://nb.zol.com.cn/775/7755068.html\n\n\n\n\n\nhttps://nb.zol.com.cn/775/7755068.html\nnb.zol.com.cn\ntrue\n中关村在线\nhttps://nb.zol.com.cn/775/7755068.html\nreport\n804\n　　据报道，库克希望在任期结束前为苹果再开拓出一个新品类。可能很多人会自然想到Apple Car，但Gurman的观点却是虚拟现实/增强现实相关。库克明白，汽车不是一蹴而就的产品，还很遥远。况且机会要留给硅谷年轻人，他已无法超越自己的巅峰。　　当然，这也显得“鸡贼”...","news_type":1,"symbols_score_info":{"AAPL":1}},"isVote":1,"tweetType":1,"viewCount":889,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":810097755,"gmtCreate":1629933791477,"gmtModify":1676530174067,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"htmlText":"Hh","listText":"Hh","text":"Hh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/810097755","repostId":"2162068635","repostType":2,"repost":{"id":"2162068635","kind":"news","pubTimestamp":1629928800,"share":"https://ttm.financial/m/news/2162068635?lang=en_US&edition=fundamental","pubTime":"2021-08-26 06:00","market":"hk","language":"zh","title":"Staring at when the Fed tapers its bond purchases is already out! Professionals say when it ends is more important","url":"https://stock-news.laohu8.com/highlight/detail?id=2162068635","media":"智通财经","summary":"近期金融市场上所有的讨论都是关于美联储何时开始缩减购债，专业人士们则指出，对于从股票、债券、货币到一切来说，更重要的不是何时开始，而是缩减购债何时会结束。美联储目前每月购买1200亿美元的证券，直到美国经济在实现最大就业和价格稳定目标方面取得实质性的进一步进展。当美联储在上一次经济衰退后退出每月购买850亿美元的购债计划时，该央行当时用了10个月的时间。目前货币市场交易员认为，美联储将在2023年第一季度首次加息。","content":"<p><html><body>Zhitong Finance APP learned that on Wednesday, as the annual meeting of global central banks in Jackson Hole was about to be held, investors waited with bated breath for Federal Reserve Chairman Powell's speech, and U.S. stocks closed slightly higher and hit a new high. All the recent discussion in financial markets has been about when the Fed will start tapering bond purchases. Professionals have pointed out that for everything from stocks, bonds, currencies, what is more important is not when to start, but when to tapering bond purchases. It will end.</p><p>Former Merrill Lynch trader Tom Essaye said: \"The key is how quickly the Fed exits easing policy, and then (when) it translates into the timing of the first rate hike.\"</p><p>The Federal Reserve is currently buying $120 billion in securities every month until the U.S. economy makes substantial further progress towards maximum employment and price stability targets. When the Federal Reserve pulled out of its $85 billion-a-month bond purchase program after the last recession, it took the central bank 10 months. The tapering of bond purchases at that time was announced in December 2013 and began the following month. Finally, all purchases were ended in October 2014 and the rate hike began in December 2015.</p><p>Money market traders currently believe that the Fed will conduct its first rate hike in the first quarter of 2023.<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>Guneet Dhingra, head of U.S. interest rate strategy, noted: \"When the Fed actually announces a shrinking balance sheet, it may also give some information about what speed it will take and what kind of information officials want to give in the process, which may provide a key signal for the rate hike cycle, especially when it comes to the speed of rate hike.\"</p><p><img src=\"https://img.zhitongcaijing.com/image/20210826/1629924063453122.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1629924063453122.png\"/></p><p>The U.S. ten-year Treasury Bond yield has steadily declined since March this year and is currently around 1.3%, not far from an all-time low, amid concerns that the Delta variant will curb the economic recovery. The gap between long-and short-term yields has also narrowed since hitting a more than five-year high in March, a sign of speculation that the Federal Reserve will begin withdrawing its stimulus efforts.</p><p>Morgan Stanley predicts that the yield of 10-year U.S. Treasury Bond will reach 1.8% by the end of this year, and the Federal Reserve will start its shrinking balance sheet in January next year and end it in October. The bank predicts that the Fed's first rate hike will take place in the second quarter of 2023.</p><p>Steven Barrow, a director at Standard Bank Group, said that if the Fed delays its shrinking balance sheet, the risk is greater than acting prematurely. He noted that the delay could force the central bank to raise interest rates within just a few months of ending bond purchases, which could uneasy financial markets and would put investors into safe havens such as the yen and the Swiss franc.</p><p>Barrow said: \"It would be dangerous for the Fed to do this (delay the end of bond purchases), and we know that it is not impossible for the Fed to raise interest rates sometime around the end of next year. I am more concerned about when the Fed shrinking balance sheet ends than when it starts.\"</p><p>The risk of normalization of Fed policy this time is greater, because against the background of near-zero interest rates and easing policies, there is another debt ceiling crisis, and the bond market is very sensitive to changes in interest rates. This risk extends to the stock market. Cheap money pouring into the market worldwide has driven down bond yields, stirring investors' pursuit of higher yields, and signs of bubbles are emerging almost everywhere.</p><p>George Goncalves, head of U.S. macro strategy at MUFG Securities Americas, said: \"In this case, the liquidity of margin is the most important thing. shrinking balance sheet's impact on assets will start from cryptocurrencies and extend to some stocks and high-yield bonds. shrinking balance sheet will have more impact on these assets than U.S. Treasury Bond, and (without the support of the Federal Reserve) these assets will have to start'self-reliance '.\"</p><p></body></html></p>","source":"stock_zhitongcaijing","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Staring at when the Fed tapers its bond purchases is already out! Professionals say when it ends is more important</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\">\nStaring at when the Fed tapers its bond purchases is already out! Professionals say when it ends is more important\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经</strong><span class=\"h-time small\">2021-08-26 06:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><body>Zhitong Finance APP learned that on Wednesday, as the annual meeting of global central banks in Jackson Hole was about to be held, investors waited with bated breath for Federal Reserve Chairman Powell's speech, and U.S. stocks closed slightly higher and hit a new high. All the recent discussion in financial markets has been about when the Fed will start tapering bond purchases. Professionals have pointed out that for everything from stocks, bonds, currencies, what is more important is not when to start, but when to tapering bond purchases. It will end.</p><p>Former Merrill Lynch trader Tom Essaye said: \"The key is how quickly the Fed exits easing policy, and then (when) it translates into the timing of the first rate hike.\"</p><p>The Federal Reserve is currently buying $120 billion in securities every month until the U.S. economy makes substantial further progress towards maximum employment and price stability targets. When the Federal Reserve pulled out of its $85 billion-a-month bond purchase program after the last recession, it took the central bank 10 months. The tapering of bond purchases at that time was announced in December 2013 and began the following month. Finally, all purchases were ended in October 2014 and the rate hike began in December 2015.</p><p>Money market traders currently believe that the Fed will conduct its first rate hike in the first quarter of 2023.<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>Guneet Dhingra, head of U.S. interest rate strategy, noted: \"When the Fed actually announces a shrinking balance sheet, it may also give some information about what speed it will take and what kind of information officials want to give in the process, which may provide a key signal for the rate hike cycle, especially when it comes to the speed of rate hike.\"</p><p><img src=\"https://img.zhitongcaijing.com/image/20210826/1629924063453122.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1629924063453122.png\"/></p><p>The U.S. ten-year Treasury Bond yield has steadily declined since March this year and is currently around 1.3%, not far from an all-time low, amid concerns that the Delta variant will curb the economic recovery. The gap between long-and short-term yields has also narrowed since hitting a more than five-year high in March, a sign of speculation that the Federal Reserve will begin withdrawing its stimulus efforts.</p><p>Morgan Stanley predicts that the yield of 10-year U.S. Treasury Bond will reach 1.8% by the end of this year, and the Federal Reserve will start its shrinking balance sheet in January next year and end it in October. The bank predicts that the Fed's first rate hike will take place in the second quarter of 2023.</p><p>Steven Barrow, a director at Standard Bank Group, said that if the Fed delays its shrinking balance sheet, the risk is greater than acting prematurely. He noted that the delay could force the central bank to raise interest rates within just a few months of ending bond purchases, which could uneasy financial markets and would put investors into safe havens such as the yen and the Swiss franc.</p><p>Barrow said: \"It would be dangerous for the Fed to do this (delay the end of bond purchases), and we know that it is not impossible for the Fed to raise interest rates sometime around the end of next year. I am more concerned about when the Fed shrinking balance sheet ends than when it starts.\"</p><p>The risk of normalization of Fed policy this time is greater, because against the background of near-zero interest rates and easing policies, there is another debt ceiling crisis, and the bond market is very sensitive to changes in interest rates. This risk extends to the stock market. Cheap money pouring into the market worldwide has driven down bond yields, stirring investors' pursuit of higher yields, and signs of bubbles are emerging almost everywhere.</p><p>George Goncalves, head of U.S. macro strategy at MUFG Securities Americas, said: \"In this case, the liquidity of margin is the most important thing. shrinking balance sheet's impact on assets will start from cryptocurrencies and extend to some stocks and high-yield bonds. shrinking balance sheet will have more impact on these assets than U.S. Treasury Bond, and (without the support of the Federal Reserve) these assets will have to start'self-reliance '.\"</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://www.zhitongcaijing.com/content/detail/544886.html\">智通财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/0f9e9a265cb0e7e8cb195039b2fe24a4","relate_stocks":{},"source_url":"http://www.zhitongcaijing.com/content/detail/544886.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2162068635","content_text":"智通财经APP获悉，周三，因杰克逊霍尔全球央行年会即将召开，投资者屏息凝神等待美联储主席鲍威尔的讲话，美股小幅收涨再创新高。近期金融市场上所有的讨论都是关于美联储何时开始缩减购债，专业人士们则指出，对于从股票、债券、货币到一切来说，更重要的不是何时开始，而是缩减购债何时会结束。前美林证券交易员Tom Essaye表示：“关键是美联储退出宽松政策的速度有多块，然后(什么时候)转化为第一次加息的时间。”美联储目前每月购买1200亿美元的证券，直到美国经济在实现最大就业和价格稳定目标方面取得实质性的进一步进展。当美联储在上一次经济衰退后退出每月购买850亿美元的购债计划时，该央行当时用了10个月的时间。当时的缩减购债是在2013年12月宣布的，并在次月开始，最后在2014年10月结束了所有的购买，于2015年12月开始加息。目前货币市场交易员认为，美联储将在2023年第一季度首次加息。摩根士丹利的美国利率策略主管Guneet \nDhingra指出：“当美联储实际宣布缩表时，它可能也会在一定程度上给出关于它将采取什么速度以及官员们想在这个过程中给出什么样的信息，这可能为加息周期提供一个关键信号，特别是在加息的速度方面。”自今年3月份以来，美国十年期国债收益率稳步下行，目前在1.3%左右，离历史最低点不远，因为人们担心Delta变种会抑制经济复苏。长期和短期收益率之间的差距自3月份创下五年多来的高点以来也有所缩小，这是人们猜测美联储将开始撤回其刺激措施的一个迹象。摩根士丹利预测，美国10年期国债收益率将在今年年底达到1.8%，美联储将在明年1月开始缩表，并在10月结束。该行预测，美联储的第一次加息将在2023年第二季度进行。Standard Bank Group的一位主管Steven \nBarrow表示，如果美联储推迟缩表，其风险要大于过早行动。他指出，推迟可能会迫使该央行在结束债券购买的短短几个月内提高利率，这可能会使金融市场感到不安，将使投资者进入日元和瑞士法郎等避风港。Barrow称：“美联储这样做(推迟结束债券购买)将是危险的，我们知道，美联储在明年年底前后的某个时候提高利率，这并非不可能。我更关注美联储缩表什么时候结束，而不是什么时候开始。”此次美联储政策的正常化风险更大，因为在接近零利率和宽松政策的背景下，又出现了债务上限危机，债券市场对利率的变化非常敏感。这种风险延申到了股市。全球范围内投入市场的廉价资金推动了债券收益率的下降，激起了投资者对高收益的追求，几乎所有地方都出现了泡沫的迹象。MUFG Securities Americas的美国宏观战略主管George \nGoncalves表示：“在这种情况下，保证金的流动性才是最重要的。缩表对资产的影响会从加密货币开始，延伸至一些股票和高收益债券。缩表对这些资产的影响将比美国国债更多，(失去美联储的支持)这些资产将不得不开始‘自力更生’”","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":710,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832558422,"gmtCreate":1629672075666,"gmtModify":1676530087554,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"htmlText":"Jj","listText":"Jj","text":"Jj","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/832558422","repostId":"1151137736","repostType":4,"isVote":1,"tweetType":1,"viewCount":810,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832153466,"gmtCreate":1629600244255,"gmtModify":1676530076827,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"htmlText":"Jsjsj","listText":"Jsjsj","text":"Jsjsj","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/832153466","repostId":"2161274943","repostType":2,"repost":{"id":"2161274943","kind":"highlight","pubTimestamp":1629592848,"share":"https://ttm.financial/m/news/2161274943?lang=en_US&edition=fundamental","pubTime":"2021-08-22 08:40","market":"us","language":"zh","title":"Or on Monday! Pfizer vaccine to be fully approved in the United States","url":"https://stock-news.laohu8.com/highlight/detail?id=2161274943","media":"华尔街见闻","summary":"不仅能为更多的人提供保护，全面获批也可能是辉瑞疫苗的一大里程碑。\n据《纽约时报》援引消息人士的话报道称，美国食品和药物管理局(FDA)可能于周一全面批准辉瑞公司的新冠疫苗。\n随着文书工作和与辉瑞的谈判","content":"<p>Not only can it provide protection for more people, but full approval may also be<a href=\"https://laohu8.com/S/PFE\">Pfizer</a>A big milestone for vaccines.</p><p>According to<a href=\"https://laohu8.com/S/NYT\">The New York Times</a>The U.S. Food and Drug Administration (FDA) could fully approve Pfizer's COVID-19 vaccine on Monday, \"reported, citing sources.</p><p>The final review outcome could exceed that date as paperwork and negotiations with Pfizer continue, a move that would make Pfizer's vaccine the first COVID-19 vaccine to go from emergency use authorization to full FDA approval.</p><p>On Aug. 8, Dr. Anthony Fauci, the White House's chief medical adviser, told The Associated Press that he hopes the vaccine will be fully approved within August, which will make more companies and schools mandatory for people to get vaccinated.</p><p>With the surge of new crown cases across the United States in recent weeks, major U.S. companies have become increasingly stringent on vaccinating employees. Some companies say they will use full FDA approval as part of their decision-making process.</p><p>As of Friday, data from the Centers for Disease Control and Prevention (CDC) showed that<b>More than 203 million doses of Pfizer's vaccine have been administered nationwide, effectively protecting more than 91 million people in the United States.</b></p><p>Pfizer and BioNTech began applying for biopharmaceutical licenses for vaccines in May this year after receiving emergency use authorization from the FDA in December last year.</p><p>As previously reported by CNBC, drugmakers authorized by the European Union were banned from promoting their vaccines.</p><p>But if duly authorized,<b>Pfizer and BioNTech's vaccines will remain on the market after the epidemic is over, and they will be able to promote their vaccines directly to consumers.</b></p><p>On August 16, the two companies announced that after submitting clinical trial data to the FDA, they had begun the approval process to provide booster shots to fully vaccinated people.</p><p>Separately, senior health officials from agencies such as the CDC, the White House and the FDA said in a statement Wednesday that the effectiveness of mRNA vaccines will decline over time, especially for those with impaired immune systems.</p><p>They said that the United States will begin distributing the booster vaccine to the public in September.</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>Or on Monday! Pfizer vaccine to be fully approved in the United States</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\">\nOr on Monday! Pfizer vaccine to be fully approved in the United States\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\">2021-08-22 08:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Not only can it provide protection for more people, but full approval may also be<a href=\"https://laohu8.com/S/PFE\">Pfizer</a>A big milestone for vaccines.</p><p>According to<a href=\"https://laohu8.com/S/NYT\">The New York Times</a>The U.S. Food and Drug Administration (FDA) could fully approve Pfizer's COVID-19 vaccine on Monday, \"reported, citing sources.</p><p>The final review outcome could exceed that date as paperwork and negotiations with Pfizer continue, a move that would make Pfizer's vaccine the first COVID-19 vaccine to go from emergency use authorization to full FDA approval.</p><p>On Aug. 8, Dr. Anthony Fauci, the White House's chief medical adviser, told The Associated Press that he hopes the vaccine will be fully approved within August, which will make more companies and schools mandatory for people to get vaccinated.</p><p>With the surge of new crown cases across the United States in recent weeks, major U.S. companies have become increasingly stringent on vaccinating employees. Some companies say they will use full FDA approval as part of their decision-making process.</p><p>As of Friday, data from the Centers for Disease Control and Prevention (CDC) showed that<b>More than 203 million doses of Pfizer's vaccine have been administered nationwide, effectively protecting more than 91 million people in the United States.</b></p><p>Pfizer and BioNTech began applying for biopharmaceutical licenses for vaccines in May this year after receiving emergency use authorization from the FDA in December last year.</p><p>As previously reported by CNBC, drugmakers authorized by the European Union were banned from promoting their vaccines.</p><p>But if duly authorized,<b>Pfizer and BioNTech's vaccines will remain on the market after the epidemic is over, and they will be able to promote their vaccines directly to consumers.</b></p><p>On August 16, the two companies announced that after submitting clinical trial data to the FDA, they had begun the approval process to provide booster shots to fully vaccinated people.</p><p>Separately, senior health officials from agencies such as the CDC, the White House and the FDA said in a statement Wednesday that the effectiveness of mRNA vaccines will decline over time, especially for those with impaired immune systems.</p><p>They said that the United States will begin distributing the booster vaccine to the public in September.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3638520\">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/6e474d690ea02c536f0fd4c03fc3ddef","relate_stocks":{},"source_url":"https://wallstreetcn.com/articles/3638520","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2161274943","content_text":"不仅能为更多的人提供保护，全面获批也可能是辉瑞疫苗的一大里程碑。\n据《纽约时报》援引消息人士的话报道称，美国食品和药物管理局(FDA)可能于周一全面批准辉瑞公司的新冠疫苗。\n随着文书工作和与辉瑞的谈判继续进行，最终审查结果可能会超过这一日期，此举将使辉瑞的疫苗成为首个从紧急使用授权到完全获得FDA批准的新冠疫苗。\n8月8日，白宫首席医疗顾问安东尼·福奇(Anthony Fauci)博士对美联社表示，他希望疫苗将在8月之内获得全面批准，这将使更多公司和学校强制要求人们接种疫苗。\n随着最近几周美国各地新冠病例的激增，美国各大公司对员工接种疫苗的相关规定也越来越严格。一些公司称，会将FDA的全面批准作为其决策过程的一部分。\n截至周五，美国疾病控制与预防中心（CDC）的数据显示，辉瑞的疫苗已经在全国范围内接种了超过2.03亿剂，使美国超过9100万人得到有效保护。\n辉瑞和BioNTech公司在去年12月获得FDA的紧急使用授权后，于今年5月开始申请疫苗的生物制药许可证。\n据CNBC此前报道，获得欧盟授权的制药商被禁止推广他们的疫苗。\n但如果获得正式授权，辉瑞和BioNTech的疫苗在疫情结束后仍将在市场上销售，而且能够直接向消费者宣传其疫苗。\n在8月16日，两家公司宣布，在向FDA提交临床试验数据后，他们开始了对完全接种者提供加强针的批准程序。\n另外，CDC、白宫和FDA等机构的高级卫生官员周三在一份声明中称，mRNA疫苗的有效性会随着时间的推移而下降，尤其是对那些免疫系统受损的人。\n他们表示，美国将于9月份开始向公众分发加强型的疫苗。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":588,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":838285249,"gmtCreate":1629413991981,"gmtModify":1676530030405,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4090730840029950","authorIdStr":"4090730840029950"},"themes":[],"htmlText":"Hh","listText":"Hh","text":"Hh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/838285249","repostId":"1125444263","repostType":4,"repost":{"id":"1125444263","kind":"news","pubTimestamp":1629430600,"share":"https://ttm.financial/m/news/1125444263?lang=en_US&edition=fundamental","pubTime":"2021-08-20 11:36","market":"hk","language":"zh","title":"Douyin makes Meituan uncomfortable, but it's not because of heart takeout","url":"https://stock-news.laohu8.com/highlight/detail?id=1125444263","media":"新芒","summary":"发酵一个多月的抖音心动外卖，至今没有落地。\n尚在内测阶段的心动外卖，普通用户找不到服务入口。提供抖音外卖服务的商家也寥若星辰，肯德基和喜茶都是通过自身的小程序处理外卖订单。\n但这不妨碍大家对这件事的猜","content":"<p>Douyin Heartbeat Takeaway, which has been fermented for more than a month, has not yet landed.</p><p>Ordinary users cannot find the service entrance for Xindong Takeaway, which is still in the internal beta stage. There are only a few merchants providing Douyin take-out services. KFC and Heytea both process take-out orders through their own mini programs.</p><p>But this does not prevent everyone from guessing about this matter. The interpretation and analysis of byte takeout is always the most eye-catching. Tik Tok's topic about heartbeat take-out has been broadcast 380 million times. Some bloggers even package it as an outlet for ordinary people to realize wealth freedom.</p><p>Maybe we all think a little too much and exaggerate the influence of Douyin as food delivery. At least at this time, it is too early to regard Douyin Waimai as a force stirring up the market structure.</p><p>Takeaway is just a footnote of Douyin's involvement in local life services. Compared with this new business of \"only hearing the voice but not seeing the person\", it is better to pay attention to Douyin's in-store consumption first.</p><p>Judging from the internal reaction of Meituan, it is not Douyin takeout that makes them uncomfortable. It is the erosion of Douyin's in-store business on its advertising revenue.</p><p><b>01</b></p><p><b>Not getting through</b></p><p>\"I don't know, I haven't heard of it.\" Facing the store Douyin group purchase package displayed by Xinmang Daybreak, the waiters of the four restaurants all expressed their ignorance. Even if this package can be used, they can't be sure.</p><p>In a large shabu-shabu restaurant in Chaoyang District, Beijing, the background cash register system did not enter Douyin's package. That is to say, consumers can't place an order after purchasing a package. After consulting the store manager, they simply recommend us to buy it from Meituan.</p><p>This is not an isolated case. A founder of a national chain restaurant told Xinmang Daybreak that whether it is group buying or takeout, Douyin and the merchant's cash register system have not been connected, and a complete closed loop has not been achieved. Group buying is currently the experience of users going to the store with coupons for verification. The whole process is not particularly smooth.</p><p>For local life services, Douyin has made a lot of foreshadowing.</p><p>In March last year, Douyin launched the \"Douyin Group Buying\" function. Now, when you click on the Douyin location interface, the preferential group buying service has covered three sectors: catering and food, tourism and accommodation, and leisure and entertainment. This is also the whole content of local life.</p><p>One year has passed, and Douyin is not optimistic about building a merchant ecosystem for in-store business.</p><p>After our test, only 13 of the nearly 100 restaurants within one kilometer have launched Douyin group buying. Under the same location and distance, the number of merchants participating in Meituan group buying is 66. In the field of tourism and accommodation, there are still no businesses in Beijing, and the nearest hotel is in Langfang, Hebei.</p><p>We learned that despite Byte's huge traffic and brand influence, there is no shortcut to participate in the game of local life. Think about Ali. After so many years of struggling, there is no shortage of traffic or money, but he just can't take this position.</p><p>Xu Yang, the owner of a restaurant in Beijing, revealed to Xinmang Daybreak that two months ago, Douyin's land push came to the door, so they launched a group buying package. He wasn't sure if he could bring new customers. Xu Yang's attitude is, \"Douyin's group buying is just hanging, and there is currently no energy to operate it.\"</p><p>Later, some adjustments were made to the restaurant dishes, and the local push on Douyin never came again, and Xu Yang did not take the initiative to change the set menu on Douyin. As a result, the restaurant has far more group buying packages on Meituan than Douyin.</p><p>This situation is not a minority either. After comparison, we found that in a restaurant chain, Meituan has as many as 19 group buying discount categories, while Douyin has only 3 categories.</p><p>The co-founders of a restaurant chain in Guangxi contacted by Xinmang Daybreak were more straightforward, and they refused to participate in group buying activities on TikTok. The reason is simple, \"The profit of mass catering is thin, and doing more discounts, etc., is to drink and quench thirst.\"</p><p>Xu Yang revealed that Meituan's group buying commission is about 2%, while Douyin's group buying commission does not. The commission is not the key. If the group purchase is less than 30% off, you will lose money. This is also an important reason why Xu Yang is not interested in Douyin group buying.</p><p>Longyan, nearly 2,000 kilometers away from Beijing, is Zhang Yiming's hometown. Locally, people know this Longyan entrepreneur. But this regional camaraderie does not translate into commercial support.</p><p>Zhang Xuan has opened a milk tea shop in Longyan for 6 years. He told Xinmang Daybreak that in the past two months, \"Douyin people come to promote it every day, and sometimes four people can come a day.\" But he just doesn't want to do Douyin group buying.</p><p>In Zhang Xuan's view, the group purchase price is too low, basically around 50% off. If you do group buying, you can only keep you at a loss, so you can treat it as advertising. And he was already very busy and didn't want to make trouble for himself anymore. Many businesses are hanging, but they don't want to do it. \"After all, businesses are not doing charity.\"</p><p>According to him, Douyin's current local promotion is mainly aimed at group buying, and there is no movement of food delivery yet. I only heard about internal beta. Later, he added, \"This place is still the world of Meituan.\" Longyan is also Wang Xing's hometown.</p><p><b>02</b></p><p><b>Threatening Meituan?</b></p><p>Although the results of Douyin's in-store group buying promotion are not loud, there is still a tense atmosphere within Meituan. A Meituan insider said, \"I feel like I've been stabbed by Byte.\"</p><p>The most direct result of Douyin's involvement in local life is the erosion of the advertising revenue of Meituan's in-store business.</p><p>Although the above-mentioned restaurants in Guangxi did not participate in group buying, they have been doing regional grass planting on Douyin. Their principle is: \"Meituan and Douyin are the same, doing more drainage for content display, and doing less drainage for profits.\" The specific implementation strategy is: \"The brand plants grass to cover the whole city with heavy firepower, and the store plants grass within a radius of two or three kilometers.\"</p><p>As a result, with an almost fixed delivery budget every year, Douyin increases, and Meituan naturally decreases.</p><p>This logic takes its course. The demand for merchant drainage promotion has never changed. What has changed is only the bearing form.</p><p>If it is said that the era of public comment is dominated by graphic content and short videos are on the rise, Douyin, as the largest platform, will naturally carry local life services. And, both Dianping and Douyin rely on UGC's content creation model.</p><p>Douyin has planned a series of store exploration activities for talents, encouraging content creators to go to offline stores to create POI videos. After users apply to become group buying experts, they receive tasks in the background. These tasks are merchants' advertising. Shoot a punch-in video with a location to get traffic support and commission dividends.</p><p>The founders of the above-mentioned national chain restaurants also believe that Douyin's visit to the store is more logical than Daojia. \"If a closed loop can be formed, the experience of merchants and consumers will be smoother, and the future traffic plate will be larger.\"</p><p>The biggest question for Meituan insiders is whether the top management has a plan to deal with Douyin's increasing penetration of in-store business.</p><p>Since the merger of Dianping in 2015, Meituan has been going to Dianping in recent years. When Xiaohongshu first crossed borders and invaded local life, Dianping was slow to respond. When Douyin attacked on a large scale, he didn't see the action of comments. There was even news of layoffs in Dianping.</p><p>The problem is that marginalized reviews actually have very good cash flows in many businesses. Such as catering, beauty, wedding, etc. These revenues are feeding back Meituan's innovative business, while the core business food delivery has not been profitable so far. If Douyin's aggressive attack has a substantial impact on Meituan's advertising revenue, it is not a good thing.</p><p>Is this a mistake by Meituan? \"We shouldn't watch it happen. At least put on your protective suit before someone tries to stab you?\"</p><p><b>03</b></p><p><b>How determined is TikTok to do takeaway?</b></p><p>The in-store business has not yet been solid, why is Douyin eager to launch the food delivery business?</p><p>From the perspective of market size, take-out with high-frequency demand is a good business. Meituan's annual revenue in 2020 has reached 114.8 billion yuan, of which the food delivery business is strong. The annual transaction amount increased by 24.5% year-on-year, and the revenue reached 66.3 billion yuan, accounting for approximately 58% of the total revenue.</p><p>According to data from iResearch, by 2025, the domestic local life service market will grow from 19.5 trillion yuan in 2020 to 35.3 trillion yuan. Among them, the online penetration rate of life services is only 12.7%. In other words, the main competitive location of this 10,000-level market is still offline.</p><p>Such a huge market, Byte will naturally not let go. Local life is not only an integral part of Douyin's content ecology, but also increases the possibility of traffic monetization.</p><p>Later, LatePost reported that at the end of last year, the Byte Commercialization Department established a \"local direct business center\" for local life business, and about 10,000 employees were adjusted to participate in customer mining in life services, cultural tourism, catering and other industries.</p><p>The reason why the local life business is launched in Douyin is that among the three major traffic sectors of Douyin-local traffic, attention traffic and traffic recommendation, the utilization rate of local traffic is the least, and it is most compatible with the local life business, so the monetization efficiency will be very high.</p><p>The point of view of more than one catering merchant is that the reason why Douyin is involved in local life is to maximize traffic monetization.</p><p>They are generally optimistic about Douyin's store-to-store drainage business. But it is not so positive about the noisy \"heartbeat take-out\".</p><p>Internet analyst Tang Xin said that he was not optimistic about Douyin's take-out. \"Because food delivery is a relatively purposeful demand scenario, and Douyin is more mining the non-purposeful needs of users. Even if Byte can make up for this difference through algorithms and traffic subsidies, it will take a long time to carry out Layout promotion.\"</p><p>He also added, \"The most difficult thing about this matter is not to find demand, but to build a merchant ecosystem. This requires a large number of local push teams, which Byte does not currently have.\"</p><p>A Meituan take-out employee reported that there was no special atmosphere inside.</p><p>In his view, the core moat of take-out lies in two aspects: commodity supply and logistics distribution.</p><p>When users come to you to order takeout, there must always be something to choose from. The number of newly signed merchants is still an important indicator of Meituan Takeout's BD assessment. Before the antitrust investigation, Meituan demanded exclusive rights for some merchants. Logistics Meituan has express delivery and special delivery, and the army of millions of riders is the result of their years of construction. One reference is that Meituan's expenditure in 2020 will reach 48.69 billion yuan in terms of rider costs alone.</p><p>Meituan is also beware of Ele.me's counterattack. Therefore, every summer and winter, we train troops to keep the team alert by means of campaign exercises. Pay special attention to national catering chain brands and regional brand resources to ensure that they are not lost.</p><p>Based on this, they don't think that Xindong Takeaway will have a huge impact on the industry structure in a short period of time.</p><p>The fact is, a common perception of several catering leaders we contacted is that Douyin's understanding of the catering industry needs to be deepened.</p><p>Xindong Takeaway is currently in the internal testing stage, and brands such as Heytea and KFC can achieve delivery. Similar to the situation of group buying, there is no connection with the cash register system of the merchant, the category of take-out is limited, and it is still a group buying package. No matter the type selection or the delivery time, there is no way to guarantee it.</p><p>But in any case, no one can ignore TikTok's attack on local life.</p><p>At this time, Byte is more like Tencent before 2010. It has national-level applications, has no shortage of traffic or money, and has never given up its new business growth curve. This is also the reason why Byte has been attacking everywhere in education, games, consumption and other fields in the past two years. Most importantly, it is often the adversary who is threatened.</p><p>In March this year, the ninth anniversary of the establishment of Byte, Zhang Yiming once called competitors the best blue army in an internal speech. He reminds teams to neither avoid competition nor compete for the sake of competition, and if the mindset is unbalanced, some real opportunities will be missed.</p><p>Bytes are looking at themselves and comparing others.</p><p>(Xu Yang and Zhang Xuan are pseudonyms in the text)</p>","source":"lsy1584686584163","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>Douyin makes Meituan uncomfortable, but it's not because of heart takeout</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\">\nDouyin makes Meituan uncomfortable, but it's not because of heart takeout\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新芒</strong><span class=\"h-time small\">2021-08-20 11:36</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Douyin Heartbeat Takeaway, which has been fermented for more than a month, has not yet landed.</p><p>Ordinary users cannot find the service entrance for Xindong Takeaway, which is still in the internal beta stage. There are only a few merchants providing Douyin take-out services. KFC and Heytea both process take-out orders through their own mini programs.</p><p>But this does not prevent everyone from guessing about this matter. The interpretation and analysis of byte takeout is always the most eye-catching. Tik Tok's topic about heartbeat take-out has been broadcast 380 million times. Some bloggers even package it as an outlet for ordinary people to realize wealth freedom.</p><p>Maybe we all think a little too much and exaggerate the influence of Douyin as food delivery. At least at this time, it is too early to regard Douyin Waimai as a force stirring up the market structure.</p><p>Takeaway is just a footnote of Douyin's involvement in local life services. Compared with this new business of \"only hearing the voice but not seeing the person\", it is better to pay attention to Douyin's in-store consumption first.</p><p>Judging from the internal reaction of Meituan, it is not Douyin takeout that makes them uncomfortable. It is the erosion of Douyin's in-store business on its advertising revenue.</p><p><b>01</b></p><p><b>Not getting through</b></p><p>\"I don't know, I haven't heard of it.\" Facing the store Douyin group purchase package displayed by Xinmang Daybreak, the waiters of the four restaurants all expressed their ignorance. Even if this package can be used, they can't be sure.</p><p>In a large shabu-shabu restaurant in Chaoyang District, Beijing, the background cash register system did not enter Douyin's package. That is to say, consumers can't place an order after purchasing a package. After consulting the store manager, they simply recommend us to buy it from Meituan.</p><p>This is not an isolated case. A founder of a national chain restaurant told Xinmang Daybreak that whether it is group buying or takeout, Douyin and the merchant's cash register system have not been connected, and a complete closed loop has not been achieved. Group buying is currently the experience of users going to the store with coupons for verification. The whole process is not particularly smooth.</p><p>For local life services, Douyin has made a lot of foreshadowing.</p><p>In March last year, Douyin launched the \"Douyin Group Buying\" function. Now, when you click on the Douyin location interface, the preferential group buying service has covered three sectors: catering and food, tourism and accommodation, and leisure and entertainment. This is also the whole content of local life.</p><p>One year has passed, and Douyin is not optimistic about building a merchant ecosystem for in-store business.</p><p>After our test, only 13 of the nearly 100 restaurants within one kilometer have launched Douyin group buying. Under the same location and distance, the number of merchants participating in Meituan group buying is 66. In the field of tourism and accommodation, there are still no businesses in Beijing, and the nearest hotel is in Langfang, Hebei.</p><p>We learned that despite Byte's huge traffic and brand influence, there is no shortcut to participate in the game of local life. Think about Ali. After so many years of struggling, there is no shortage of traffic or money, but he just can't take this position.</p><p>Xu Yang, the owner of a restaurant in Beijing, revealed to Xinmang Daybreak that two months ago, Douyin's land push came to the door, so they launched a group buying package. He wasn't sure if he could bring new customers. Xu Yang's attitude is, \"Douyin's group buying is just hanging, and there is currently no energy to operate it.\"</p><p>Later, some adjustments were made to the restaurant dishes, and the local push on Douyin never came again, and Xu Yang did not take the initiative to change the set menu on Douyin. As a result, the restaurant has far more group buying packages on Meituan than Douyin.</p><p>This situation is not a minority either. After comparison, we found that in a restaurant chain, Meituan has as many as 19 group buying discount categories, while Douyin has only 3 categories.</p><p>The co-founders of a restaurant chain in Guangxi contacted by Xinmang Daybreak were more straightforward, and they refused to participate in group buying activities on TikTok. The reason is simple, \"The profit of mass catering is thin, and doing more discounts, etc., is to drink and quench thirst.\"</p><p>Xu Yang revealed that Meituan's group buying commission is about 2%, while Douyin's group buying commission does not. The commission is not the key. If the group purchase is less than 30% off, you will lose money. This is also an important reason why Xu Yang is not interested in Douyin group buying.</p><p>Longyan, nearly 2,000 kilometers away from Beijing, is Zhang Yiming's hometown. Locally, people know this Longyan entrepreneur. But this regional camaraderie does not translate into commercial support.</p><p>Zhang Xuan has opened a milk tea shop in Longyan for 6 years. He told Xinmang Daybreak that in the past two months, \"Douyin people come to promote it every day, and sometimes four people can come a day.\" But he just doesn't want to do Douyin group buying.</p><p>In Zhang Xuan's view, the group purchase price is too low, basically around 50% off. If you do group buying, you can only keep you at a loss, so you can treat it as advertising. And he was already very busy and didn't want to make trouble for himself anymore. Many businesses are hanging, but they don't want to do it. \"After all, businesses are not doing charity.\"</p><p>According to him, Douyin's current local promotion is mainly aimed at group buying, and there is no movement of food delivery yet. I only heard about internal beta. Later, he added, \"This place is still the world of Meituan.\" Longyan is also Wang Xing's hometown.</p><p><b>02</b></p><p><b>Threatening Meituan?</b></p><p>Although the results of Douyin's in-store group buying promotion are not loud, there is still a tense atmosphere within Meituan. A Meituan insider said, \"I feel like I've been stabbed by Byte.\"</p><p>The most direct result of Douyin's involvement in local life is the erosion of the advertising revenue of Meituan's in-store business.</p><p>Although the above-mentioned restaurants in Guangxi did not participate in group buying, they have been doing regional grass planting on Douyin. Their principle is: \"Meituan and Douyin are the same, doing more drainage for content display, and doing less drainage for profits.\" The specific implementation strategy is: \"The brand plants grass to cover the whole city with heavy firepower, and the store plants grass within a radius of two or three kilometers.\"</p><p>As a result, with an almost fixed delivery budget every year, Douyin increases, and Meituan naturally decreases.</p><p>This logic takes its course. The demand for merchant drainage promotion has never changed. What has changed is only the bearing form.</p><p>If it is said that the era of public comment is dominated by graphic content and short videos are on the rise, Douyin, as the largest platform, will naturally carry local life services. And, both Dianping and Douyin rely on UGC's content creation model.</p><p>Douyin has planned a series of store exploration activities for talents, encouraging content creators to go to offline stores to create POI videos. After users apply to become group buying experts, they receive tasks in the background. These tasks are merchants' advertising. Shoot a punch-in video with a location to get traffic support and commission dividends.</p><p>The founders of the above-mentioned national chain restaurants also believe that Douyin's visit to the store is more logical than Daojia. \"If a closed loop can be formed, the experience of merchants and consumers will be smoother, and the future traffic plate will be larger.\"</p><p>The biggest question for Meituan insiders is whether the top management has a plan to deal with Douyin's increasing penetration of in-store business.</p><p>Since the merger of Dianping in 2015, Meituan has been going to Dianping in recent years. When Xiaohongshu first crossed borders and invaded local life, Dianping was slow to respond. When Douyin attacked on a large scale, he didn't see the action of comments. There was even news of layoffs in Dianping.</p><p>The problem is that marginalized reviews actually have very good cash flows in many businesses. Such as catering, beauty, wedding, etc. These revenues are feeding back Meituan's innovative business, while the core business food delivery has not been profitable so far. If Douyin's aggressive attack has a substantial impact on Meituan's advertising revenue, it is not a good thing.</p><p>Is this a mistake by Meituan? \"We shouldn't watch it happen. At least put on your protective suit before someone tries to stab you?\"</p><p><b>03</b></p><p><b>How determined is TikTok to do takeaway?</b></p><p>The in-store business has not yet been solid, why is Douyin eager to launch the food delivery business?</p><p>From the perspective of market size, take-out with high-frequency demand is a good business. Meituan's annual revenue in 2020 has reached 114.8 billion yuan, of which the food delivery business is strong. The annual transaction amount increased by 24.5% year-on-year, and the revenue reached 66.3 billion yuan, accounting for approximately 58% of the total revenue.</p><p>According to data from iResearch, by 2025, the domestic local life service market will grow from 19.5 trillion yuan in 2020 to 35.3 trillion yuan. Among them, the online penetration rate of life services is only 12.7%. In other words, the main competitive location of this 10,000-level market is still offline.</p><p>Such a huge market, Byte will naturally not let go. Local life is not only an integral part of Douyin's content ecology, but also increases the possibility of traffic monetization.</p><p>Later, LatePost reported that at the end of last year, the Byte Commercialization Department established a \"local direct business center\" for local life business, and about 10,000 employees were adjusted to participate in customer mining in life services, cultural tourism, catering and other industries.</p><p>The reason why the local life business is launched in Douyin is that among the three major traffic sectors of Douyin-local traffic, attention traffic and traffic recommendation, the utilization rate of local traffic is the least, and it is most compatible with the local life business, so the monetization efficiency will be very high.</p><p>The point of view of more than one catering merchant is that the reason why Douyin is involved in local life is to maximize traffic monetization.</p><p>They are generally optimistic about Douyin's store-to-store drainage business. But it is not so positive about the noisy \"heartbeat take-out\".</p><p>Internet analyst Tang Xin said that he was not optimistic about Douyin's take-out. \"Because food delivery is a relatively purposeful demand scenario, and Douyin is more mining the non-purposeful needs of users. Even if Byte can make up for this difference through algorithms and traffic subsidies, it will take a long time to carry out Layout promotion.\"</p><p>He also added, \"The most difficult thing about this matter is not to find demand, but to build a merchant ecosystem. This requires a large number of local push teams, which Byte does not currently have.\"</p><p>A Meituan take-out employee reported that there was no special atmosphere inside.</p><p>In his view, the core moat of take-out lies in two aspects: commodity supply and logistics distribution.</p><p>When users come to you to order takeout, there must always be something to choose from. The number of newly signed merchants is still an important indicator of Meituan Takeout's BD assessment. Before the antitrust investigation, Meituan demanded exclusive rights for some merchants. Logistics Meituan has express delivery and special delivery, and the army of millions of riders is the result of their years of construction. One reference is that Meituan's expenditure in 2020 will reach 48.69 billion yuan in terms of rider costs alone.</p><p>Meituan is also beware of Ele.me's counterattack. Therefore, every summer and winter, we train troops to keep the team alert by means of campaign exercises. Pay special attention to national catering chain brands and regional brand resources to ensure that they are not lost.</p><p>Based on this, they don't think that Xindong Takeaway will have a huge impact on the industry structure in a short period of time.</p><p>The fact is, a common perception of several catering leaders we contacted is that Douyin's understanding of the catering industry needs to be deepened.</p><p>Xindong Takeaway is currently in the internal testing stage, and brands such as Heytea and KFC can achieve delivery. Similar to the situation of group buying, there is no connection with the cash register system of the merchant, the category of take-out is limited, and it is still a group buying package. No matter the type selection or the delivery time, there is no way to guarantee it.</p><p>But in any case, no one can ignore TikTok's attack on local life.</p><p>At this time, Byte is more like Tencent before 2010. It has national-level applications, has no shortage of traffic or money, and has never given up its new business growth curve. This is also the reason why Byte has been attacking everywhere in education, games, consumption and other fields in the past two years. Most importantly, it is often the adversary who is threatened.</p><p>In March this year, the ninth anniversary of the establishment of Byte, Zhang Yiming once called competitors the best blue army in an internal speech. He reminds teams to neither avoid competition nor compete for the sake of competition, and if the mindset is unbalanced, some real opportunities will be missed.</p><p>Bytes are looking at themselves and comparing others.</p><p>(Xu Yang and Zhang Xuan are pseudonyms in the text)</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://finance.sina.com.cn/tech/csj/2021-08-19/doc-ikqciyzm2460553.shtml\">新芒</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/fed0ca34194450e796708c8740dfdf19","relate_stocks":{"03690":"美团-W"},"source_url":"http://finance.sina.com.cn/tech/csj/2021-08-19/doc-ikqciyzm2460553.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125444263","content_text":"发酵一个多月的抖音心动外卖，至今没有落地。\n尚在内测阶段的心动外卖，普通用户找不到服务入口。提供抖音外卖服务的商家也寥若星辰，肯德基和喜茶都是通过自身的小程序处理外卖订单。\n但这不妨碍大家对这件事的猜想。针对字节做外卖的解读和分析，总是最吸引眼球。抖音关于「心动外卖」的话题播放量已达3.8亿次。甚至有博主将其包装为普通人实现财富自由的一个风口。\n或许我们都想得有点多，也夸大了抖音做外卖的影响力。至少此时，将抖音外卖视作搅动市场格局的一股力量，为时尚早。\n外卖只是抖音涉足本地生活服务的一个注脚。相比这个“只闻其声不见其人”的新业务，不如先关注抖音的到店消费。\n从美团内部的反应来看，让他们难受的不是抖音外卖。而是抖音到店业务对其广告收入的蚕食。\n01\n没有打通\n“不清楚，没有听说。”面对「新芒Daybreak」展示的门店抖音团购套餐，4家餐厅的服务员都表示不了解。甚至这个套餐能不能用，他们也不能确定。\n北京朝阳区的一家大型涮肉店，后台收银系统并没有录入抖音的套餐。也就是说消费者购买套餐之后是无法下单的，咨询店长之后，他们干脆推荐我们从美团上购买。\n这不是孤例。一位全国连锁餐饮店创始人告诉「新芒Daybreak」，不论团购还是外卖，抖音和商家的收银系统没有打通，没有实现完整意义上的闭环，团购目前就是用户持优惠券到店核销的体验，整个流程并不是特别顺畅。\n本地生活服务，抖音已经做了不少铺垫。\n去年3月，抖音就曾上线“抖音团购”功能，如今点开抖音位置界面，优惠团购服务已经覆盖餐饮美食、旅游住宿、休闲娱乐三个板块，这也是本地生活的全部内容。\n一年时间过去，抖音在到店业务商家生态的搭建，并不乐观。\n经过我们的测试，一公里范围内接近百家数量的餐饮店，只有13个上线了抖音团购，同等位置和距离下，参与美团团购的商家数量为66家。旅游住宿领域，北京目前仍没有商家入驻，距离最近的一家酒店在河北廊坊市。\n我们了解到，尽管字节有着巨大的流量和品牌影响力，但想参与本地生活的游戏，没有捷径。想想阿里吧，死磕这么多年，不缺流量不缺钱就是拿不下这块阵地。\n一家北京的餐饮店老板徐阳向「新芒Daybreak」透露，两个月前，抖音的地推找上门，于是他们上线了团购套餐。能不能带来新客，他也没把握。徐阳的态度是，“抖音的团购只是挂着，目前也没有精力运营。”\n后来餐馆菜品做了一些调整，抖音那边的地推再也没来，徐阳也没有主动更改抖音上的套餐。结果是，这家餐馆在美团的团购套餐数量远多于抖音。\n这种情况也不是少数。我们对比之后发现，一家餐饮连锁店，美团的团购优惠品类多达19种，抖音则只有3种。\n「新芒Daybreak」联系到的广西一家连锁餐厅的联合创始人更直截了当，他们拒绝参与抖音的团购活动。原因简单，“大众餐饮利润就薄，折扣等做多，就是饮鸩止渴。”\n徐阳透露，美团的团购抽成大约是2%，抖音团购没有抽成。抽成不是关键，团购低于7折就会赔钱。这也是徐阳对抖音团购不上心的一个重要原因。\n距离北京近2000公里的龙岩，张一鸣的老家。当地，人们都知道这位龙岩籍企业家。但这种地域情谊并不能转化为商业上的支持。\n张轩在龙岩开了6年的奶茶店，他告诉「新芒Daybreak」，近两个月来，“每天都有抖音的人上门推广，多的时候一天能来4个人。”但他就是不愿意做抖音团购。\n在张轩看来，团购价格压得太低，基本在5折左右。做团购只能保持不亏，就当打打广告了。而他本来就很忙，不愿意再给自己找麻烦。很多商家也就是挂着，但并不想做，“毕竟商家不是做慈善的。”\n据他介绍，抖音目前的地推主要针对团购，外卖还没有动静，只听说在内测。随后，他补了一句，“这里依然是美团的天下。”龙岩也是王兴的老家。\n02\n威胁美团？\n尽管抖音到店团购推进结果不算大鸣大放，但在美团内部依然笼罩着一种紧张的气氛。一位美团内部人士说，“有种被字节捅了一刀的感觉”。\n抖音涉足本地生活，最直接的结果是，对美团到店业务广告收入的蚕食。\n上述广西的餐饮店，虽然没有参与团购，但一直在抖音做区域种草投放。他们的原则是：“美团和抖音都一样，更多做内容展示的引流，少做折损利润的引流。”具体执行策略是：“品牌种草全城重火力覆盖，店面种草方圆两三公里辐射。”\n结果是，每年差不多固定的投放预算，抖音增加，美团自然就减少。\n这个逻辑是顺其自然的。商家引流推广的需求，从未改变。变化的只是承载形式。\n如果说，大众点评时代是以图文内容为主，短视频兴起，抖音作为最大平台自然也会承载本地生活服务。以及，不论是点评还是抖音，都依赖UGC的内容创作模式。\n抖音大手笔策划系列达人探店活动，鼓励内容创造者去线下店创造POI视频，用户申请成为团购带货达人后，在后台领任务，这些任务即商家的广告投放。拍摄带有地点的打卡视频，即可获得流量支持和佣金分红。\n上述全国连锁餐饮店创始人也认为，相比到家，抖音的到店更顺理成章。“如果能够形成闭环，商家和消费者的体验都会更顺畅一些，未来的流量盘子也会更大。”\n美团内部人士最大的疑问是，针对抖音对到店业务的日渐渗透，高层是否有预案应对。\n自2015年合并点评后，美团这几年都在去点评化。在小红书最先跨界侵入本地生活的时候，点评反应迟钝。抖音大举进攻时，也没有看到点评的动作。甚至点评一度传出裁员的消息。\n问题是，被边缘化的点评实际不少业务的现金流都非常好。比如餐饮、丽人、婚庆等。这些收入都在反哺美团的创新业务，而核心业务外卖至今没有盈利。假如抖音的大举进攻对美团的广告收入产生实质性影响，不是件好事。\n这算不算美团的失误？“我们不应该眼睁睁看着它发生。至少在别人试图捅你一刀之前，你先穿上护身衣吧？”\n03\n抖音有多大决心做外卖？\n到店业务还没做扎实，抖音为何急于展开外卖业务？\n从市场规模上来看，高频需求的外卖是一门好生意。美团2020年全年营收已达1148亿元，其中，餐饮外卖业务强劲，全年交易金额同比增长24.5%，营收达663亿元，约占总营收的58%。\n艾瑞咨询的数据显示，到2025年，国内本地生活服务市场规模将从2020年的19.5万亿元增长至35.3万亿元。其中，生活服务的线上渗透率仅为12.7%。也就是说，这个万级市场的主要竞争地点还是线下。\n这么巨大的市场，字节自然不会放过。本地生活既是抖音内容生态的组成部分，又能增加流量变现的可能性。\n晚点 LatePost报道，去年年底，字节商业化部成立面向本地生活业务的“本地直营业务中心”，约一万名员工被调整参与生活服务、文化旅游和餐饮等行业进行客户挖掘。\n之所以在抖音展开本地生活业务，因为在抖音的三大流量板块——本地流量、关注流量与流量推荐中，本地流量的利用率最少，且与本地生活业务最为契合，因此变现效率会很高。\n不止一位餐饮商家的观点是，抖音之所以涉水本地生活，就是想最大化的流量变现。\n对抖音到店引流业务，他们普遍持乐观心态。但对吵得沸沸扬扬的“心动外卖”则不是那么积极。\n互联网分析师唐欣表示，自己并不看好抖音做外卖。“因为外卖是一个目的性比较强的需求场景，而抖音更多在挖掘用户的非目的性需求。即使字节通过算法和流量补贴，可以弥补这种差异性，也需要较长的时间进行布局推广。”\n他还补充道，“这个事情最难的不是找需求，而是构建商家生态。这需要大量的地推团队，而字节目前不太具备。”\n一位美团外卖员工则反馈，内部没有感知到特别的气氛。\n在他看来，外卖的核心护城河在两个方面：商品供给和物流配送。\n用户来你这里点外卖，总要有东西可选。新签商家数量依然是美团外卖对BD考核的重要指标。在反垄断调查之前，美团对部分商家要求独家权益。物流美团有快送和专送，几百万骑手大军是他们多年建设的结果。一个参照是，仅骑手成本这一项，美团2020年的支出就达486.9亿元。\n美团也在谨防饿了么反攻。所以每年夏季冬季大练兵，以战役演习的方式保持团队警醒。尤其重视全国餐饮连锁品牌和区域品牌资源，保证不丢失。\n基于此，他们并不认为心动外卖会在短时间内对行业格局产生巨大冲击。\n事实是，我们接触的几位餐饮负责人一个共同的感知是，抖音对餐饮行业的理解，还有待更深入。\n心动外卖目前处于内测阶段，喜茶、肯德基等品牌可以实现外送。跟团购的情况类似，没有与商家的收银系统打通，外卖的品类有限，还是团购套餐。不论是种类选择，还是配送时间，都没办法保证。\n但无论如何，没有人能忽略抖音对本地生活的进攻。\n此时的字节更像是2010年前的腾讯，坐拥国民级应用，不缺流量、不缺钱，始终没有放弃新的业务增长曲线。这也是字节近两年在教育、游戏、消费等领域四处出击的原因。最重要的是，受到威胁的往往是对手。\n今年3月，字节成立九周年，张一鸣在内部讲话时曾称竞争对手是最好的蓝军。他提醒团队既不要逃避竞争，也不要为了竞争而竞争，如果心态不平衡，就会错过一些真正的机会。\n字节在审视自身，也在对照他人。\n（文中徐阳、张轩为化名）","news_type":1,"symbols_score_info":{"03690":0.9}},"isVote":1,"tweetType":1,"viewCount":594,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":9091475137,"gmtCreate":1643935605952,"gmtModify":1676533873269,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"htmlText":"I","listText":"I","text":"I","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9091475137","repostId":"1103200225","repostType":4,"isVote":1,"tweetType":1,"viewCount":1775,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":896056874,"gmtCreate":1628546958798,"gmtModify":1703507759492,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"htmlText":"Hshs","listText":"Hshs","text":"Hshs","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/896056874","repostId":"2158410898","repostType":4,"isVote":1,"tweetType":1,"viewCount":504,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":899222191,"gmtCreate":1628202590613,"gmtModify":1703502902566,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/899222191","repostId":"1160328223","repostType":4,"isVote":1,"tweetType":1,"viewCount":317,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9030902315,"gmtCreate":1645592714350,"gmtModify":1676534043747,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"htmlText":"Ggggg","listText":"Ggggg","text":"Ggggg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9030902315","repostId":"1120506339","repostType":4,"isVote":1,"tweetType":1,"viewCount":2153,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9030055023,"gmtCreate":1645584588382,"gmtModify":1676534042967,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"htmlText":"Gg","listText":"Gg","text":"Gg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9030055023","repostId":"2213963135","repostType":4,"isVote":1,"tweetType":1,"viewCount":2210,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9007472620,"gmtCreate":1642993141970,"gmtModify":1676533763265,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"htmlText":"Hhhhh","listText":"Hhhhh","text":"Hhhhh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9007472620","repostId":"1155413027","repostType":4,"repost":{"id":"1155413027","kind":"news","pubTimestamp":1642991287,"share":"https://ttm.financial/m/news/1155413027?lang=en_US&edition=fundamental","pubTime":"2022-01-24 10:28","market":"sh","language":"zh","title":"The Spring Festival is approaching, hold shares or currency","url":"https://stock-news.laohu8.com/highlight/detail?id=1155413027","media":"方正证券","summary":"春节又将临近，每逢此时，市场上总是兴起一股关于是持币过年还是持股过年的讨论。为此本文统计回顾了2010年至2021年春节前后A股市场的表现情况，供投资者参考。A股春节效应显著，节前节后市场上涨概率大，","content":"<p><html><head></head><body>The Spring Festival is approaching again. At this time, there is always a discussion in the market about whether to hold currency or shares for the New Year. For this reason, this article statistically reviews the performance of the A-share market around the Spring Festival from 2010 to 2021 for investors' reference.</p><p><b>The A-share Spring Festival effect is significant, and the probability of the market rising before and after the holiday is high. In the past ten years, the A-share market Spring Festival red envelopes have obvious characteristics of low risk and high return.</b>From the perspective of the increase, in the past 12 years, the average cumulative rate of return of wind All A in the five trading days before the Spring Festival was 1.9%, the median was 2.6%, and the average cumulative rate of return in the five trading days after the Spring Festival was 1.4%, the median was 1.8%. Moreover, the market performance during the Spring Festival over the years is significantly more stable than that of the whole year. That is to say, compared with the overall increase of the whole year, the market red envelope during the Spring Festival has significant characteristics of low risk and high return.</p><p><b>In contrast, the Shenzhen Component Index and the ChiNext Index performed better than the Shanghai Composite Index, and small and medium-cap stock indexes such as the CSI 500 and CSI 1000 were better than heavyweight indexes such as the SSE 50 and CSI 300.</b>In terms of the increase rate, the median cumulative return rate of the GEM index in the past 12 years before/after the Spring Festival was 2.4% and 4.1% respectively, and that of the Shanghai Composite Index was 1.4% and 0.9%. The median cumulative returns of the China Securities 2000 Index in the past 12 years in the five trading days before/after the Spring Festival were 2.0% and 4.4% respectively, while that of the Shanghai and Shenzhen 300 Index was 1.9% and 0.6%.</p><p><b>Judging from the performance of various industries, Shenwan's first-level industries generally have a high probability of closing up around the Spring Festival, and non-ferrous metals, electronics, computers and other sectors performed relatively well.</b>The non-ferrous metal sector saw a median increase of 3.4% in the first five trading days of the Spring Festival between 2010 and 2021, the best performer among all sectors. Looking at the five trading days after the Spring Festival, the median cumulative increase is still the best performer in the nonferrous industry, at 5.2%. In addition, the comprehensive performance of electronics, computer and other industries before and after the holiday is also good.</p><p><b>Judging from the performance of various style indexes, the major style indexes also have a high probability of closing up before and after the Spring Festival, and the high P/E style is better than the low P/E style, the high-priced stock style is better than the low-priced stock style, and the loss-making and low-profit stock style is better than the blue-chip stock.</b>The median cumulative increase of high P/E stock styles in the five trading days before/after the Spring Festival from 2010 to 2021 is 2.5% and 3.4% respectively, which is better than the 1.9% and 0.6% of low P/E stocks. The median cumulative increase of high-priced stock styles in the past 10 years before/after the Spring Festival was 3.3% and 1.6% respectively, which was better than the 1.1% and 2.4% of low-priced stocks. The median cumulative increase of the loss-making stock style in the past 10 years before/after the Spring Festival was 2.3% and 4.2% respectively, which was better than the 2.5% and 0.6% of blue-chip stocks as a whole.</p><p>Risk warning: the macro economy is less than expected, overseas markets fluctuate greatly, and historical experience does not represent the future.</p><p>The body is as follows:</p><p>Holding shares or holding currency, sorting out the market characteristics before and after the Spring Festival</p><p>The Spring Festival is approaching again. At this time, there is always a discussion in the market about whether to hold currency or shares for the New Year. For this reason, this paper statistically reviews the performance of the A-share market around the Spring Festival in the past ten years for investors' reference.</p><p>1. The Spring Festival effect of A-shares is significant, and the probability of market rising before and after the holiday is high</p><p>The Spring Festival effect of A-shares is significant, and the probability of market rise before and after the holiday is relatively high. We have summarized the performance of yields in the five trading days before and after the Spring Festival from 2010 to 2021. Overall, the performance of the A-share market before and after the Spring Festival is good in most cases, and the major broad-based indexes The probability of rising is relatively high. In the past 12 years, in 9 years, the cumulative income of wind all A has increased in the 5 trading days before and 5 trading days after the holiday, that is, the probability of rising is as high as 75%. However, in these 12 years, the annual cumulative income of wind all A has only been positive in 8 years, so from the perspective of probability, the performance of A-share market does have a significant Spring Festival effect.</p><p><img src=\"https://static.tigerbbs.com/3ebb634e1fdcb47287f6f64ad921dd0b\" tg-width=\"745\" tg-height=\"473\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>From the perspective of ups and downs, the Spring Festival red envelopes in the A-share market in the past decade or so have significant characteristics of low risk and high return.</b>From the perspective of the increase, in the past 12 years, the average cumulative rate of return of wind All A in the five trading days before the Spring Festival was 1.9%, the median was 2.6%, and the average cumulative rate of return in the five trading days after the Spring Festival was 1.4%, the median was 1.8%. And from the perspective of volatility, the market performance during the Spring Festival over the years is significantly more stable than that of the whole year. That is to say, compared with the overall increase of the whole year, the market red envelope during the Spring Festival has significant characteristics of low risk and high return.</p><p><b>In contrast, the Shenzhen Component Index and the ChiNext Index performed better than the Shanghai Composite Index, and small and medium-cap stock indexes such as the CSI 500 and CSI 1000 were better than heavyweight indexes such as the SSE 50 and CSI 300.</b>In terms of the increase rate, the median cumulative return rate of the GEM index in the past 12 years before/after the Spring Festival was 2.4% and 4.1% respectively, and that of the Shanghai Composite Index was 1.4% and 0.9%. The median cumulative returns of the China Securities 2000 Index in the past 12 years in the five trading days before/after the Spring Festival were 2.0% and 4.4% respectively, while that of the Shanghai and Shenzhen 300 Index was 1.9% and 0.6%.</p><p><img src=\"https://static.tigerbbs.com/582cd2589b619255738cf6d2f570069b\" tg-width=\"772\" tg-height=\"476\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>2. Non-ferrous metals, electronics, and computers perform relatively well</p><p><b>Judging from the performance of various industries, the cumulative closing probability of Shenwan's first-level industries in the five trading days before and after the Spring Festival in the past 10 years is generally above 50%.</b>Judging from the performance of various industries in the five trading days before and after the Spring Festival from 2010 to 2021, in most cases, Shenwan's first-level industries performed better before and after the holiday, and the number of increases was much higher than the number of declines. Among them, the pharmaceutical and biological industry has all risen in the five trading days before the Spring Festival in the past 12 years, with a probability of rising as high as 100%, and a probability of rising as high as 92% in the five trading days after the Spring Festival. In addition, the probability of rising in the two industries of electronic and electrical equipment in the five trading days before and after the holiday is also above 80%.</p><p><b>Judging from the absolute value data of the rise and fall of various industries, the performance of non-ferrous metals, electronics, computer and other sectors before and after the Spring Festival was relatively good, while the performance of the financial sector was relatively low.</b>The non-ferrous metal sector saw a median increase of 3.4% in the first five trading days of the Spring Festival between 2010 and 2021, the best performer among all sectors. Looking at the five trading days after the Spring Festival, the median cumulative increase is still the best performer in the nonferrous industry, at 5.2%. In addition, the comprehensive performance of electronics, computer and other industries before and after the holiday is also good, while the performance of the financial sector is relatively low in both the 5 trading days before and after the holiday.</p><p><img src=\"https://static.tigerbbs.com/19bfbbfde65d4117bf61534eeec75506\" tg-width=\"768\" tg-height=\"476\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><img src=\"https://static.tigerbbs.com/503e1fbb70dea37f1e719bee7cceac27\" tg-width=\"752\" tg-height=\"482\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>3. High P/E is better than low P/E, high-priced stocks are better than low-priced stocks, and low-profit stocks are better than blue-chip stocks</p><p><b>Judging from the performance of various style indexes, the probability of the main style indexes in the A-share market closing up in the five trading days before and after the Spring Festival is generally above 60%.</b>Judging from the performance of various industries in the five trading days before and after the Spring Festival from 2010 to 2021, each style index performed better before and after the holiday, and the number of increases was also much higher than the number of declines. Among them, the probability of the high P/E style index rising in the past 12 years within the 5 trading days before/after the Spring Festival is above 80%.</p><p><b>Judging from the absolute value data of the rise and fall of various style indexes, the high P/E style before and after the Spring Festival is better than the low P/E style, the high-priced stock style is better than the low-priced stock style, and the low-profit stock style is better than the blue-chip stock style.</b>The median cumulative increase of high P/E stock styles in the five trading days before/after the Spring Festival from 2010 to 2021 is 2.5% and 3.4% respectively, which is better than the 1.9% and 0.6% of low P/E stocks. The median cumulative increase of high-priced stock styles in the past 10 years before/after the Spring Festival was 3.3% and 1.6% respectively, which was better than the 1.1% and 2.4% of low-priced stocks. The median cumulative increase of the loss-making stock style in the past 10 years before/after the Spring Festival was 2.3% and 4.2% respectively, which was better than the 2.5% and 0.6% of blue-chip stocks as a whole.</p><p><img src=\"https://static.tigerbbs.com/55520b80f80e1ed42fb553ec3282e634\" tg-width=\"751\" tg-height=\"466\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/><img src=\"https://static.tigerbbs.com/e5464cc2dab3b0eaba26b6ecc77dc615\" tg-width=\"755\" tg-height=\"475\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p></body></html></p>","source":"lsy1583736415415","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Spring Festival is approaching, hold shares or currency</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Spring Festival is approaching, hold shares or currency\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">方正证券</strong><span class=\"h-time small\">2022-01-24 10:28</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>The Spring Festival is approaching again. At this time, there is always a discussion in the market about whether to hold currency or shares for the New Year. For this reason, this article statistically reviews the performance of the A-share market around the Spring Festival from 2010 to 2021 for investors' reference.</p><p><b>The A-share Spring Festival effect is significant, and the probability of the market rising before and after the holiday is high. In the past ten years, the A-share market Spring Festival red envelopes have obvious characteristics of low risk and high return.</b>From the perspective of the increase, in the past 12 years, the average cumulative rate of return of wind All A in the five trading days before the Spring Festival was 1.9%, the median was 2.6%, and the average cumulative rate of return in the five trading days after the Spring Festival was 1.4%, the median was 1.8%. Moreover, the market performance during the Spring Festival over the years is significantly more stable than that of the whole year. That is to say, compared with the overall increase of the whole year, the market red envelope during the Spring Festival has significant characteristics of low risk and high return.</p><p><b>In contrast, the Shenzhen Component Index and the ChiNext Index performed better than the Shanghai Composite Index, and small and medium-cap stock indexes such as the CSI 500 and CSI 1000 were better than heavyweight indexes such as the SSE 50 and CSI 300.</b>In terms of the increase rate, the median cumulative return rate of the GEM index in the past 12 years before/after the Spring Festival was 2.4% and 4.1% respectively, and that of the Shanghai Composite Index was 1.4% and 0.9%. The median cumulative returns of the China Securities 2000 Index in the past 12 years in the five trading days before/after the Spring Festival were 2.0% and 4.4% respectively, while that of the Shanghai and Shenzhen 300 Index was 1.9% and 0.6%.</p><p><b>Judging from the performance of various industries, Shenwan's first-level industries generally have a high probability of closing up around the Spring Festival, and non-ferrous metals, electronics, computers and other sectors performed relatively well.</b>The non-ferrous metal sector saw a median increase of 3.4% in the first five trading days of the Spring Festival between 2010 and 2021, the best performer among all sectors. Looking at the five trading days after the Spring Festival, the median cumulative increase is still the best performer in the nonferrous industry, at 5.2%. In addition, the comprehensive performance of electronics, computer and other industries before and after the holiday is also good.</p><p><b>Judging from the performance of various style indexes, the major style indexes also have a high probability of closing up before and after the Spring Festival, and the high P/E style is better than the low P/E style, the high-priced stock style is better than the low-priced stock style, and the loss-making and low-profit stock style is better than the blue-chip stock.</b>The median cumulative increase of high P/E stock styles in the five trading days before/after the Spring Festival from 2010 to 2021 is 2.5% and 3.4% respectively, which is better than the 1.9% and 0.6% of low P/E stocks. The median cumulative increase of high-priced stock styles in the past 10 years before/after the Spring Festival was 3.3% and 1.6% respectively, which was better than the 1.1% and 2.4% of low-priced stocks. The median cumulative increase of the loss-making stock style in the past 10 years before/after the Spring Festival was 2.3% and 4.2% respectively, which was better than the 2.5% and 0.6% of blue-chip stocks as a whole.</p><p>Risk warning: the macro economy is less than expected, overseas markets fluctuate greatly, and historical experience does not represent the future.</p><p>The body is as follows:</p><p>Holding shares or holding currency, sorting out the market characteristics before and after the Spring Festival</p><p>The Spring Festival is approaching again. At this time, there is always a discussion in the market about whether to hold currency or shares for the New Year. For this reason, this paper statistically reviews the performance of the A-share market around the Spring Festival in the past ten years for investors' reference.</p><p>1. The Spring Festival effect of A-shares is significant, and the probability of market rising before and after the holiday is high</p><p>The Spring Festival effect of A-shares is significant, and the probability of market rise before and after the holiday is relatively high. We have summarized the performance of yields in the five trading days before and after the Spring Festival from 2010 to 2021. Overall, the performance of the A-share market before and after the Spring Festival is good in most cases, and the major broad-based indexes The probability of rising is relatively high. In the past 12 years, in 9 years, the cumulative income of wind all A has increased in the 5 trading days before and 5 trading days after the holiday, that is, the probability of rising is as high as 75%. However, in these 12 years, the annual cumulative income of wind all A has only been positive in 8 years, so from the perspective of probability, the performance of A-share market does have a significant Spring Festival effect.</p><p><img src=\"https://static.tigerbbs.com/3ebb634e1fdcb47287f6f64ad921dd0b\" tg-width=\"745\" tg-height=\"473\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>From the perspective of ups and downs, the Spring Festival red envelopes in the A-share market in the past decade or so have significant characteristics of low risk and high return.</b>From the perspective of the increase, in the past 12 years, the average cumulative rate of return of wind All A in the five trading days before the Spring Festival was 1.9%, the median was 2.6%, and the average cumulative rate of return in the five trading days after the Spring Festival was 1.4%, the median was 1.8%. And from the perspective of volatility, the market performance during the Spring Festival over the years is significantly more stable than that of the whole year. That is to say, compared with the overall increase of the whole year, the market red envelope during the Spring Festival has significant characteristics of low risk and high return.</p><p><b>In contrast, the Shenzhen Component Index and the ChiNext Index performed better than the Shanghai Composite Index, and small and medium-cap stock indexes such as the CSI 500 and CSI 1000 were better than heavyweight indexes such as the SSE 50 and CSI 300.</b>In terms of the increase rate, the median cumulative return rate of the GEM index in the past 12 years before/after the Spring Festival was 2.4% and 4.1% respectively, and that of the Shanghai Composite Index was 1.4% and 0.9%. The median cumulative returns of the China Securities 2000 Index in the past 12 years in the five trading days before/after the Spring Festival were 2.0% and 4.4% respectively, while that of the Shanghai and Shenzhen 300 Index was 1.9% and 0.6%.</p><p><img src=\"https://static.tigerbbs.com/582cd2589b619255738cf6d2f570069b\" tg-width=\"772\" tg-height=\"476\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>2. Non-ferrous metals, electronics, and computers perform relatively well</p><p><b>Judging from the performance of various industries, the cumulative closing probability of Shenwan's first-level industries in the five trading days before and after the Spring Festival in the past 10 years is generally above 50%.</b>Judging from the performance of various industries in the five trading days before and after the Spring Festival from 2010 to 2021, in most cases, Shenwan's first-level industries performed better before and after the holiday, and the number of increases was much higher than the number of declines. Among them, the pharmaceutical and biological industry has all risen in the five trading days before the Spring Festival in the past 12 years, with a probability of rising as high as 100%, and a probability of rising as high as 92% in the five trading days after the Spring Festival. In addition, the probability of rising in the two industries of electronic and electrical equipment in the five trading days before and after the holiday is also above 80%.</p><p><b>Judging from the absolute value data of the rise and fall of various industries, the performance of non-ferrous metals, electronics, computer and other sectors before and after the Spring Festival was relatively good, while the performance of the financial sector was relatively low.</b>The non-ferrous metal sector saw a median increase of 3.4% in the first five trading days of the Spring Festival between 2010 and 2021, the best performer among all sectors. Looking at the five trading days after the Spring Festival, the median cumulative increase is still the best performer in the nonferrous industry, at 5.2%. In addition, the comprehensive performance of electronics, computer and other industries before and after the holiday is also good, while the performance of the financial sector is relatively low in both the 5 trading days before and after the holiday.</p><p><img src=\"https://static.tigerbbs.com/19bfbbfde65d4117bf61534eeec75506\" tg-width=\"768\" tg-height=\"476\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><img src=\"https://static.tigerbbs.com/503e1fbb70dea37f1e719bee7cceac27\" tg-width=\"752\" tg-height=\"482\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>3. High P/E is better than low P/E, high-priced stocks are better than low-priced stocks, and low-profit stocks are better than blue-chip stocks</p><p><b>Judging from the performance of various style indexes, the probability of the main style indexes in the A-share market closing up in the five trading days before and after the Spring Festival is generally above 60%.</b>Judging from the performance of various industries in the five trading days before and after the Spring Festival from 2010 to 2021, each style index performed better before and after the holiday, and the number of increases was also much higher than the number of declines. Among them, the probability of the high P/E style index rising in the past 12 years within the 5 trading days before/after the Spring Festival is above 80%.</p><p><b>Judging from the absolute value data of the rise and fall of various style indexes, the high P/E style before and after the Spring Festival is better than the low P/E style, the high-priced stock style is better than the low-priced stock style, and the low-profit stock style is better than the blue-chip stock style.</b>The median cumulative increase of high P/E stock styles in the five trading days before/after the Spring Festival from 2010 to 2021 is 2.5% and 3.4% respectively, which is better than the 1.9% and 0.6% of low P/E stocks. The median cumulative increase of high-priced stock styles in the past 10 years before/after the Spring Festival was 3.3% and 1.6% respectively, which was better than the 1.1% and 2.4% of low-priced stocks. The median cumulative increase of the loss-making stock style in the past 10 years before/after the Spring Festival was 2.3% and 4.2% respectively, which was better than the 2.5% and 0.6% of blue-chip stocks as a whole.</p><p><img src=\"https://static.tigerbbs.com/55520b80f80e1ed42fb553ec3282e634\" tg-width=\"751\" tg-height=\"466\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/><img src=\"https://static.tigerbbs.com/e5464cc2dab3b0eaba26b6ecc77dc615\" tg-width=\"755\" tg-height=\"475\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3650467\">方正证券</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":{"000001.SH":"上证指数"},"source_url":"https://wallstreetcn.com/articles/3650467","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155413027","content_text":"春节又将临近，每逢此时，市场上总是兴起一股关于是持币过年还是持股过年的讨论。为此本文统计回顾了2010年至2021年春节前后A股市场的表现情况，供投资者参考。A股春节效应显著，节前节后市场上涨概率大，且过去十多年A股市场春节红包具有显著的低风险高收益的特征。从上涨幅度来看，过去12年wind全A在春节前5个交易日里的累计收益率均值是1.9%，中位数是2.6%，春节后5个交易日里的累计收益率均值是1.4%，中位数是1.8%。并且历年春节期间的市场表现相比全年明显更为稳定，也就是说与全年整体涨幅相比，春节期间的市场红包具有显著的低风险高收益的特征。对比之下，深证成指、创业板指表现好于上证综指，中证500、中证1000等中小盘股指数好于上证50、沪深300等权重股指数。从上涨幅度来看，过去12年创业板指在春节前/后5个交易日里的累计收益率中位数分别为2.4%和4.1%，上证综指为1.4%和0.9%。国证2000指数过去12年在春节前/后5个交易日里的累计收益率中位数分别为2.0%和4.4%，而沪深300指数为1.9%和0.6%。从各行业表现情况来看，申万各一级行业在春节前后普遍大概率收涨，且有色、电子、计算机等板块表现相对较好。有色金属板块在2010年至2021年间春节前5个交易日涨幅中位数达3.4%，在所有板块中表现最佳。春节后5个交易日来看，累计涨幅中位数上依然是有色行业表现最佳，为5.2%。此外电子、计算机等行业节前节后综合表现同样较好。从各风格指数表现情况来看，各主要风格指数在春节前后同样收涨概率较大，且高市盈率风格好于低市盈率、高价股风格好于低价股、亏损微利股风格好于绩优股。高市盈率股风格在2010年至2021年间春节前/后5个交易日累计涨幅中位数分别为2.5%和3.4%，好于低市盈率股的1.9%和0.6%。高价股风格近10多年春节前/后5个交易日累计涨幅中位数分别为3.3%和1.6%，好于低价股的1.1%和2.4%。亏损股风格近10多年春节前/后5个交易日累计涨幅中位数分别为2.3%和4.2%，整体好于绩优股的2.5%和0.6%。风险提示：宏观经济不及预期、海外市场大幅波动、历史经验不代表未来。正文如下：持股还是持币，春节前后行情特征梳理春节又将临近，每逢此时，市场上总是兴起一股关于是持币过年还是持股过年的讨论。为此本文统计回顾了过去十多年春节前后A股市场的表现情况，供投资者参考。1. A股春节效应显著，节前节后市场上涨概率大A股春节效应显著，节前节后市场上涨概率均比较高。我们对2010年至2021年历年春节节前和节后5个交易日收益率表现情况进行了汇总，总体来看，A股市场在春节前后的表现多数情况下还是不错的，各大宽基指数上涨概率均比较高。在过去的12年中，有9年wind全A在节前5个交易日和节后5个交易日内累计收益均是上涨的，即上涨概率高达75%，而这12年中wind全A仅有8年的年度累计收益为正，因此从概率的角度看，A股市场表现确实存在着较为显著的春节效应。从涨跌幅来看，过去十多年A股市场春节红包具有显著的低风险高收益的特征。从上涨幅度来看，过去12年wind全A在春节前5个交易日里的累计收益率均值是1.9%，中位数是2.6%，春节后5个交易日里的累计收益率均值是1.4%，中位数是1.8%。并且从波动性来看，历年春节期间的市场表现相比全年明显更为稳定，也就是说与全年整体涨幅相比，春节期间的市场红包具有显著的低风险高收益的特征。对比之下，深证成指、创业板指表现好于上证综指，中证500、中证1000等中小盘股指数好于上证50、沪深300等权重股指数。从上涨幅度来看，过去12年创业板指在春节前/后5个交易日里的累计收益率中位数分别为2.4%和4.1%，上证综指为1.4%和0.9%。国证2000指数过去12年在春节前/后5个交易日里的累计收益率中位数分别为2.0%和4.4%，而沪深300指数为1.9%和0.6%。2. 有色、电子、计算机表现相对占优从各行业表现情况来看，近10多年申万各一级行业在春节前后5个交易日里累计收涨概率普遍在50%之上。从2010年至2021年各行业春节前后5个交易日表现来看，多数情况下，申万一级行业在节前节后的表现较好，上涨次数远高于下跌次数。其中，医药生物行业过去12年内在春节节前5个交易日全部是上涨的，上涨概率高达100%，在春节节后5个交易日上涨概率同样高达92%。此外电子和电气设备两个行业节前节后5个交易日上涨概率也均在80%之上。从各行业涨跌幅的绝对值数据来看，春节前后有色、电子、计算机等板块的表现相对较好，而金融板块表现较为靠后。有色金属板块在2010年至2021年间春节前5个交易日涨幅中位数达3.4%，在所有板块中表现最佳。春节后5个交易日来看，累计涨幅中位数上依然是有色行业表现最佳，为5.2%。此外电子、计算机等行业节前节后综合表现同样较好，而金融板块无论是在节前5个交易日还是节后5个交易日表现均较为靠后。3. 高市盈率好于低市盈率、高价股好于低价股、亏损微利股好于绩优股从各风格指数表现情况来看，A股市场主要风格指数在春节前后5个交易日里累计收涨的概率普遍在60%之上。从2010年至2021年各行业春节前后5个交易日表现来看，各风格指数在节前节后的表现较好，上涨次数同样远高于下跌次数。其中，高市盈率风格指数过去12年内在春节节前/后5个交易日内上涨概率均在80%以上。从各风格指数涨跌幅的绝对值数据来看，春节前后高市盈率风格好于低市盈率、高价股风格好于低价股、亏损微利股风格好于绩优股。高市盈率股风格在2010年至2021年间春节前/后5个交易日累计涨幅中位数分别为2.5%和3.4%，好于低市盈率股的1.9%和0.6%。高价股风格近10多年春节前/后5个交易日累计涨幅中位数分别为3.3%和1.6%，好于低价股的1.1%和2.4%。亏损股风格近10多年春节前/后5个交易日累计涨幅中位数分别为2.3%和4.2%，整体好于绩优股的2.5%和0.6%。","news_type":1,"symbols_score_info":{"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":1646,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805322737,"gmtCreate":1627862314929,"gmtModify":1703496611052,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"htmlText":"Rivian","listText":"Rivian","text":"Rivian","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/805322737","repostId":"2156816281","repostType":2,"repost":{"id":"2156816281","kind":"news","pubTimestamp":1627861384,"share":"https://ttm.financial/m/news/2156816281?lang=en_US&edition=fundamental","pubTime":"2021-08-02 07:43","market":"hk","language":"zh","title":"Amazon-invested electric car company Rivian may build new factory in the UK","url":"https://stock-news.laohu8.com/highlight/detail?id=2156816281","media":"新浪科技","summary":"新浪科技讯 北京时间8月2日早间消息，获得亚马逊投资的电动汽车公司Rivian可能不会只在美国生产。英国媒体报道称，Rivian正在与英国政府谈判，在布里斯托尔附近建设一家新工厂。Rivian拒绝对此消息置评。目前，Rivian开拓国际市场的压力很大。Rivian现阶段只有一家工厂，即位于美国伊利诺伊州的前三菱工厂。在海外建设工厂有助于Rivian扩大规模，以应对特斯拉和大众等竞争对手。英国打算到2035年禁止销售燃油车，这意味着本地的汽车生产将全面转向电动车。","content":"<p><html><body><figure><img h=\"415\" src=\"http://n.sinaimg.cn/tech/transform/245/w630h415/20210802/b536-6e0d35596365e0cb8fac765e816fa130.png\" w=\"630\"/><h2></h2></figure></p><p><a href=\"https://laohu8.com/S/SINA\">SINA</a>Technology News Beijing time on August 2 morning news, obtained<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>Rivian, the EV company invested in, may not be producing only in the U.S. British media reported that Rivian is negotiating with the British government to<a href=\"https://laohu8.com/S/BRS\">Bristow</a>Construction of a new factory near Earl.</p><p>This negotiation has not yet entered the final stage. But news shows that the factory will focus on the car itself rather than the production of batteries, but it is still possible that Rivian will build a similar<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Gigafactory.</p><p>According to the report, Germany and the Netherlands are currently competing with Britain. If the UK factory does start construction, then government investment is expected to be \"well over\" £ 1 billion (about $1.39 billion). Rivian declined to comment on the news.</p><p><div sax-type=\"proxy\"></div>Currently, Rivian is under great pressure to open up international markets. Rivian has only one factory at this stage, the former Mitsubishi factory in Illinois, USA. Recently, the company announced plans to build a second factory in the United States, which may also produce batteries. Such capacity could constrain future sales, especially in markets outside North America, and could affect the launch of Amazon's electric delivery van.</p><p>Building factories overseas helps Rivian scale up against rivals like Tesla and Volkswagen. Both companies are rapidly developing electric vehicle manufacturing bases. The UK intends to ban the sale of fuel vehicles by 2035, which means that local car production will fully shift to electric vehicles. Rivian's factory helps drive sales, helping the UK's transition to electric vehicles.</p><p><div><img src=\"http://n.sinaimg.cn/default/2fb77759/20151125/320X320.png\"/></div></body></html></p>","source":"sina_tech","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Amazon-invested electric car company Rivian may build new factory in the UK</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\">\nAmazon-invested electric car company Rivian may build new factory in the UK\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪科技</strong><span class=\"h-time small\">2021-08-02 07:43</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><body><figure><img h=\"415\" src=\"http://n.sinaimg.cn/tech/transform/245/w630h415/20210802/b536-6e0d35596365e0cb8fac765e816fa130.png\" w=\"630\"/><h2></h2></figure></p><p><a href=\"https://laohu8.com/S/SINA\">SINA</a>Technology News Beijing time on August 2 morning news, obtained<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>Rivian, the EV company invested in, may not be producing only in the U.S. British media reported that Rivian is negotiating with the British government to<a href=\"https://laohu8.com/S/BRS\">Bristow</a>Construction of a new factory near Earl.</p><p>This negotiation has not yet entered the final stage. But news shows that the factory will focus on the car itself rather than the production of batteries, but it is still possible that Rivian will build a similar<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Gigafactory.</p><p>According to the report, Germany and the Netherlands are currently competing with Britain. If the UK factory does start construction, then government investment is expected to be \"well over\" £ 1 billion (about $1.39 billion). Rivian declined to comment on the news.</p><p><div sax-type=\"proxy\"></div>Currently, Rivian is under great pressure to open up international markets. Rivian has only one factory at this stage, the former Mitsubishi factory in Illinois, USA. Recently, the company announced plans to build a second factory in the United States, which may also produce batteries. Such capacity could constrain future sales, especially in markets outside North America, and could affect the launch of Amazon's electric delivery van.</p><p>Building factories overseas helps Rivian scale up against rivals like Tesla and Volkswagen. Both companies are rapidly developing electric vehicle manufacturing bases. The UK intends to ban the sale of fuel vehicles by 2035, which means that local car production will fully shift to electric vehicles. Rivian's factory helps drive sales, helping the UK's transition to electric vehicles.</p><p><div><img src=\"http://n.sinaimg.cn/default/2fb77759/20151125/320X320.png\"/></div></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://tech.sina.cn/it/2021-08-02/detail-ikqcfncc0367654.d.html?vt=4\">新浪科技</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://k.sinaimg.cn/n/tech/transform/667/w400h267/20210802/998b-f4d514ad5ca5d8f49314b97ba9b186b8.png/w120h90l50t1afe.jpg","relate_stocks":{"AMZN":"亚马逊"},"source_url":"https://tech.sina.cn/it/2021-08-02/detail-ikqcfncc0367654.d.html?vt=4","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2156816281","content_text":"新浪科技讯 北京时间8月2日早间消息，获得亚马逊投资的电动汽车公司Rivian可能不会只在美国生产。英国媒体报道称，Rivian正在与英国政府谈判，在布里斯托尔附近建设一家新工厂。\n这一谈判尚未进入最后阶段。但消息显示，这家工厂将专注于汽车本身，而不是电池的生产，但Rivian仍有可能会建设类似特斯拉的超级工厂。\n报道称，目前和英国展开竞争的还有德国和荷兰。如果英国工厂真的开工建设，那么政府投资预计将“远远超过”10亿英镑（约合13.9亿美元）。Rivian拒绝对此消息置评。\n目前，Rivian开拓国际市场的压力很大。Rivian现阶段只有一家工厂，即位于美国伊利诺伊州的前三菱工厂。近期，该公司公布了在美国建设第二家工厂的计划，该工厂可能也会生产电池。这样的产能可能会制约未来的销售，尤其是在北美以外的市场，并可能影响亚马逊电动送货面包车的投产。\n在海外建设工厂有助于Rivian扩大规模，以应对特斯拉和大众等竞争对手。这两家公司都在快速开拓电动汽车制造基地。英国打算到2035年禁止销售燃油车，这意味着本地的汽车生产将全面转向电动车。Rivian的工厂有助于推动销售，帮助英国向电动汽车的转型。","news_type":1,"symbols_score_info":{"AMZN":1}},"isVote":1,"tweetType":1,"viewCount":536,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":897322419,"gmtCreate":1628892995531,"gmtModify":1676529884839,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"htmlText":"Hjj","listText":"Hjj","text":"Hjj","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/897322419","repostId":"2159904722","repostType":4,"repost":{"id":"2159904722","kind":"highlight","pubTimestamp":1628869284,"share":"https://ttm.financial/m/news/2159904722?lang=en_US&edition=fundamental","pubTime":"2021-08-13 23:41","market":"us","language":"zh","title":"Traders are flocking to bets that the Fed will not rate hike at all","url":"https://stock-news.laohu8.com/highlight/detail?id=2159904722","media":"金十数据","summary":"在市场对全球经济复苏的乐观情绪下，美国国债收益率在上升。但欧洲美元期权市场出现了一轮抛售，投资者押注美联储根本不会加息。\n交易员本周一直在忙着抢购欧洲美元的期货看涨期权，这些期权的标的物为2025年3","content":"<p>Amid market optimism about the global economic recovery, U.S. Treasury Bond yields are rising. But there has been a sell-off in the Eurodollar options market, with investors betting that the Federal Reserve will not rate hike at all.</p><p>Traders have been busy this week snapping up futures call options on the Eurodollar, which have the underlying options expiring in March 2025, betting on futures contracts that keep the London Interbank Offered Rate (Libor) below 0.5%.<b>These futures options will pay off if the Fed keeps its benchmark interest rate in a low range until then.</b>The futures market currently expects Libor to rise to around 1.47% until the first quarter of 2025.</p><p><img src=\"https://static.tigerbbs.com/e04b584c4aa666c82d1387253d6ac40d\" tg-width=\"692\" tg-height=\"415\" referrerpolicy=\"no-referrer\"></p><p>This kind of bet is designed to hedge tail risk, and this kind of trade has been particularly hot in the past week. According to London and Chicago traders familiar with the relevant transactions, more than 110,000 such options were bought during Thursday's trading session. The preliminary open position data has risen to more than 153,000 from about 22,000 a week ago.</p><p><b>However, foreign media analysts worry that if the Federal Reserve finally keeps interest rates at the current low level until 2025, this may mean that the global economy has not recovered from the epidemic and cause central banks to continue to maintain ultra-loose policies.</b></p><p>Traders have put about $6.5 million into Eurodollar hedge funds. Although the underlying futures contract targets the interest rate in March 2025, the futures option is valid for only 7 months, with a rollover in March 2022.</p><p>Craig Fee, chief strategist at Edward Jones Investments,<a href=\"https://laohu8.com/S/YHOO\">Yahoo!</a>According to a financial interview, this week's CPI and PPI data have been released. Although inflation is still at a high level, the overall situation has tended to be moderate.</p><p>He believes that the tapering will come soon and there will be some volatility, but the big investment environment will not change, because the Fed's tapering is due to the strong economy</p>","source":"xnew_highlight","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>Traders are flocking to bets that the Fed will not rate hike at all</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\">\nTraders are flocking to bets that the Fed will not rate hike at all\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">金十数据</strong><span class=\"h-time small\">2021-08-13 23:41</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Amid market optimism about the global economic recovery, U.S. Treasury Bond yields are rising. But there has been a sell-off in the Eurodollar options market, with investors betting that the Federal Reserve will not rate hike at all.</p><p>Traders have been busy this week snapping up futures call options on the Eurodollar, which have the underlying options expiring in March 2025, betting on futures contracts that keep the London Interbank Offered Rate (Libor) below 0.5%.<b>These futures options will pay off if the Fed keeps its benchmark interest rate in a low range until then.</b>The futures market currently expects Libor to rise to around 1.47% until the first quarter of 2025.</p><p><img src=\"https://static.tigerbbs.com/e04b584c4aa666c82d1387253d6ac40d\" tg-width=\"692\" tg-height=\"415\" referrerpolicy=\"no-referrer\"></p><p>This kind of bet is designed to hedge tail risk, and this kind of trade has been particularly hot in the past week. According to London and Chicago traders familiar with the relevant transactions, more than 110,000 such options were bought during Thursday's trading session. The preliminary open position data has risen to more than 153,000 from about 22,000 a week ago.</p><p><b>However, foreign media analysts worry that if the Federal Reserve finally keeps interest rates at the current low level until 2025, this may mean that the global economy has not recovered from the epidemic and cause central banks to continue to maintain ultra-loose policies.</b></p><p>Traders have put about $6.5 million into Eurodollar hedge funds. Although the underlying futures contract targets the interest rate in March 2025, the futures option is valid for only 7 months, with a rollover in March 2022.</p><p>Craig Fee, chief strategist at Edward Jones Investments,<a href=\"https://laohu8.com/S/YHOO\">Yahoo!</a>According to a financial interview, this week's CPI and PPI data have been released. Although inflation is still at a high level, the overall situation has tended to be moderate.</p><p>He believes that the tapering will come soon and there will be some volatility, but the big investment environment will not change, because the Fed's tapering is due to the strong economy</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://xnews.jin10.com/webapp/details.html?id=79955&type=news\">金十数据</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/96819b78df36696eeccbf03ebd7c466d","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SSO":"2倍做多标普500ETF-ProShares","IVV":"标普500ETF-iShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares","DXD":"两倍做空道琼30指数ETF-ProShares",".SPX":"S&P 500 Index","DDM":"2倍做多道指ETF-ProShares","SPY":"标普500ETF","SDOW":"三倍做空道指30ETF-ProShares","OEF":"标普100指数ETF-iShares","TQQQ":"纳指三倍做多ETF","DOG":"道指ETF-ProShares做空","OEX":"标普100","QID":"两倍做空纳斯达克指数ETF-ProShares","SDS":"两倍做空标普500 ETF-ProShares",".IXIC":"NASDAQ Composite","DJX":"1/100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","UDOW":"三倍做多道指30ETF-ProShares",".DJI":"道琼斯","UPRO":"三倍做多标普500ETF-ProShares","SPXU":"三倍做空标普500ETF-ProShares","SH":"做空标普500-Proshares"},"source_url":"https://xnews.jin10.com/webapp/details.html?id=79955&type=news","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2159904722","content_text":"在市场对全球经济复苏的乐观情绪下，美国国债收益率在上升。但欧洲美元期权市场出现了一轮抛售，投资者押注美联储根本不会加息。\n交易员本周一直在忙着抢购欧洲美元的期货看涨期权，这些期权的标的物为2025年3月到期，押注伦敦银行间同业拆借利率（Libor）维持在0.5%以下的期货合约。如果美联储在此之前仍将基准利率维持在较低的区间，那么这些期货期权就会带来回报。目前期货市场预计，直到2025年第一季度，Libor才升至1.47%左右。\n\n这种押注旨在对冲尾部风险，过去的一周这类交易尤其火爆。据熟悉相关交易的伦敦和芝加哥交易员，周四交易时段有超过11万份此类期权被买入。初步公布的未平仓头寸数据已从一周前的约2.2万升至逾15.3万。\n但外媒分析师担心，如果美联储最终将利率维持在目前的低水平直至2025年，这可能意味着全球经济没有从疫情中复苏，并导致各国央行继续维持超宽松政策。\n交易员们已经为欧洲美元对冲基金投入了约650万美元。虽然基础期货合约是以2025年3月的利率为目标，但期货期权的有效期仅为7个月，2022年3月进行展期。\n爱德华琼斯投资的首席策略师克雷格·费在雅虎财经的访谈上表示，本周的CPI和PPI数据都已经公布了，虽然通胀还是处于高水平，但整体已经趋于温和了。\n他认为，缩减很快会来，会有一些波动，但大投资环境不会变，因为美联储缩债是因为经济强劲","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"SDOW":0.9,".SPX":0.9,"DOG":0.9,"OEX":0.9,"QQQ":0.9,"OEF":0.9,"SPY":0.9,"UDOW":0.9,"DXD":0.9,"QLD":0.9,".IXIC":0.9,"SDS":0.9,"SPXU":0.9,"SQQQ":0.9,"TQQQ":0.9,"MNQmain":0.9,"NQmain":0.9,"UPRO":0.9,"SSO":0.9,"DJX":0.9,"QID":0.9,"DDM":0.9,"ESmain":0.9,".DJI":0.9,"PSQ":0.9,"IVV":0.9,"SH":0.9}},"isVote":1,"tweetType":1,"viewCount":455,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886539728,"gmtCreate":1631603333564,"gmtModify":1676530587348,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"htmlText":"Hh","listText":"Hh","text":"Hh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/886539728","repostId":"1159330352","repostType":4,"isVote":1,"tweetType":1,"viewCount":1866,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886595831,"gmtCreate":1631603031323,"gmtModify":1676530587162,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"htmlText":"hh","listText":"hh","text":"hh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/886595831","repostId":"1181453869","repostType":4,"repost":{"id":"1181453869","kind":"news","pubTimestamp":1631602814,"share":"https://ttm.financial/m/news/1181453869?lang=en_US&edition=fundamental","pubTime":"2021-09-14 15:00","market":"hk","language":"zh","title":"Theme park, Pop Mart can play, understand?","url":"https://stock-news.laohu8.com/highlight/detail?id=1181453869","media":"新零售商业评论","summary":"自2016年上海迪士尼开放后，国内便刮起了一股主题乐园建设风，欢乐谷、万达乐园、华强方特、长隆……个个都要和迪士尼比划比划。\n如今五年已过，上海迪士尼仍然人头攒动。北京环球影城即将热闹开幕，万达乐园易","content":"<p>Since 2016 Shanghai<a href=\"https://laohu8.com/S/DIS\">Disney</a>After the opening, there has been a trend of theme park construction in China. Happy Valley, Wanda Park, Huaqiang Fantawild, Chimelong... all have to compete with Disney.</p><p>Now that five years have passed, Shanghai Disneyland is still crowded. Universal Studios Beijing is about to open lively, Wanda Park changes hands to Sunac, Legoland,<a href=\"https://laohu8.com/S/SNE\">Sony</a>More theme parks, such as parks, are eyeing the Chinese market... The development of theme parks in China has entered a new chapter.</p><p>Not long ago,<a href=\"https://laohu8.com/S/09992\">Pop Mart</a>It also joined the war situation and established a wholly-owned subsidiary Beijing Pop Mart Paradise Management Co., Ltd. to continue to expand its IP territory.</p><p>However, only those IPs in the blind box obviously won't work. We helped Pop Mart figure out what else they need to prepare to run a theme park.</p><p><b>What does it really take to run a theme park?</b></p><p><b>A piece of land</b></p><p>To build a theme park, you must first have a piece of land.</p><p>Many domestic amusement park operators, such as OCT, Sunac and previously Wanda, are real estate developers, and they have natural advantages in land planning. Therefore, Happy Valley, Sunac Paradise, etc. are all taking the route of \"tourism + real estate\".</p><p>Shanghai Disneyland and Universal Studios Beijing have chosen to cooperate with local governments and real estate developers in order to successfully acquire land. In addition to the more combination of Chinese and Western operating models, the operation idea is still \"tourism + real estate\".</p><p>From the perspective of specific regional selection, Shanghai Disneyland and Universal Studios Beijing are currently in strong areas (Pudong New Area, Tongzhou) with better geographical and transportation advantages in their respective cities. Latecomers, such as Legoland, will find it difficult to get better land, and they can only rank second to sub-optimal areas such as Jinshan District in Shanghai and Fangshan District in Beijing.</p><p>Huaqiang Fantawild, Sunac, Songcheng, Chimelong and other parks gave up the first-and second-tier cities with relatively fierce competition from the very beginning, and instead chose to give full play to their strengths in their own advantageous areas.</p><p><b>Rich and interesting entertainment facilities</b></p><p>Thrilling roller coasters, dreamy merry-go-rounds, huge castles, realistic 4D technology... these have become the \"standard\" of theme parks, and these entertainment facilities and corresponding visual presentation technologies have been updated and iterated.</p><p>The collision between new technology and old technology can be clearly felt at Universal Studios Beijing.</p><p>A Up owner of Station B who went to punch in said that the experience of Minions was many levels higher than that of Harry Potter.</p><p>It is reported that the Minions section uses the latest 4D presentation technology, and the picture quality is high. However, \"Harry Potter's Forbidden Journey\" still uses the presentation technology of the first Harry Potter theme park in Universal Studios Orlando in 2007, and the picture is very blurry.</p><p>In terms of entertainment facilities and presentation technology, Huaqiang Fantawild can be regarded as one of the domestic enterprises with strong voice. Thanks to starting with the sale of special film equipment, the founder of Huaqiang Fantawild once said in the media: \"We all have Disney's technology.\"</p><p><img src=\"https://static.tigerbbs.com/1839ed832cf7272eff09472a111f37f6\" tg-width=\"599\" tg-height=\"412\" referrerpolicy=\"no-referrer\"></p><p>This is an important opportunity for Huaqiang Fantawild to gradually transform from indoor amusement facilities to outdoor theme parks, and it also makes up for its relative disadvantage in real estate-after all, \"fun\" is the key factor for theme parks to attract tourists.</p><p>It is reported that Huaqiang Fangte opens theme parks mainly through cooperation with various investors for investment and construction. Huaqiang Fangte provides special equipment, installation services, special effects engineering construction services or engineering management services.</p><p>However, the operators of theme parks such as OCT, Sunac and Chimelong, which already have real estate operation capabilities, can only choose third-party cooperation to introduce equipment and technology.</p><p><b>Mature IP and operational capabilities</b></p><p>This is the top priority of the theme park.</p><p>Most of the IPs owned by Disney and Universal Studios have formed some kind of cultural symbol, which has had a far-reaching impact on a global scale.</p><p>For example, Harry Potter fans, Star Wars fans and Lord of the Rings fans all have a mature internal slang system (such as spells and elves), and they are usually proud of showing their unique fan characteristics, which makes the corresponding IP periphery have more room for development.</p><p>What fan would go on a forbidden trip to Harry Potter at Universal Studios without buying a magic wand and drinking a butterbeer? Which fan will be willing to return empty-handed when he sees the helmet of the storm soldier when he goes to the Disney Mall?</p><p>What's more, most of these IPs have been accumulated for decades, and the content of the story has been constantly pushed out to cater to the appetite of new and old fans, which has had a huge influence on generations, and these influences have given birth to the strong spending power of tourists visiting theme parks.</p><p>But these alone are not enough. The soul of the theme park is to make these IPs \"live\" in the park and bring visitors a realistic immersive experience.</p><p>Disney has always been known for its dreams, because it is a fairy tale kingdom, in which all the fairy tale characters are vivid. They will greet and interact with tourists, and they will also tell some narrations that conform to the \"people's design\". When you walk into the park, you will feel happy from the bottom of your heart. This kind of appeal is unprecedented in many theme parks in China before.</p><p>Universal Studios is not far behind. Some netizens said that when you come to Harry Potter's forbidden trip and want to find a charging treasure, the staff will tell you, \"That's for Muggles, we don't have it here.\"</p><p>A wave of the induction wand will produce scene changes, and myrtle crying in the toilet... are all important designs to increase the sense of experience.</p><p><img src=\"https://static.tigerbbs.com/44c7be8377cea3265e872dbc9f4f80e6\" tg-width=\"500\" tg-height=\"328\" referrerpolicy=\"no-referrer\"></p><p>To present these IPs as authentically as possible, it benefits from the \"Chinese main investment + American main operation\" model of Shanghai Disneyland and Universal Studios Beijing.</p><p>Shanghai Disneyland is jointly invested by Shendi Group and Disney to set up three enterprises, two of which are owner companies and the third is management companies.</p><p>Just like the hotel management mode, the management company jointly established by both parties accepts the entrustment of the owner company and is responsible for the creativity, design, development and daily operation management of the project. This is also the first time in an overseas park invested by Disney.</p><p>Universal Studios Beijing also borrowed from this model, with Beijing Shouhuan Cultural Tourism Investment Co., Ltd. (referred to as \"Shouhuan Investment\") and Universal Theme Company and Resort (<a href=\"https://laohu8.com/S/CMCSK\">Comcast</a>NBC Universal's business segments) joint venture operations, with equity ratios of 70% and 30%.</p><p>The advantage of this is that, as the holder of IP, the United States has a better understanding of the true value of IP, so that it can maximize these values.</p><p>Back in the theme parks in China, they are somewhat a clever woman in IP operation.</p><p>OCT and Sunac basically adopt the way of cooperating with mature IP in China, which is more like branding IP on their own amusement facilities or staff, so as to attract the audience of a certain IP to come and play.</p><p>For example, Nanjing Happy Valley, which opened last year, was bound to Little Yellow Duck IP. In Nanjing, where \"no duck can swim out\", this IP is of course very popular, and its positioning is accurate.</p><p><img src=\"https://static.tigerbbs.com/4206f3e0889dc0dec204f2836239501e\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p><p>However, even if you have your own IP, it is still not easy to create an excellent sense of immersion. After all, the experience is a feeling that is both individual and subtle.</p><p>Located by Yangcheng Lake in Suzhou<a href=\"https://laohu8.com/S/300027\">Huayi Brothers</a>In the world of movies, there are many Huayi Brothers movie IPs such as \"If You Are the One\", \"Di Renjie's Empire of Heaven\" and \"Tai Chi\", but in terms of IP operation-many projects have real scenes but no interaction, which can neither bring real immersive experience to consumers, nor can it increase user stickiness, leaving only monotonous photos as souvenirs, and ultimately the crowd is left out.</p><p>Huaqiang Fangte has certain uniqueness and originality in the operation of its own IP and theme parks, and \"<b>Tourism + Real Estate</b>\"The model is different, Huaqiang Fantawild's strategy is\"<b>Culture + Technology</b>\", take the route that content is king.</p><p>But it is destined to be a very difficult road to keep up with Disney.</p><p>In the past ten years, Huaqiang Fantawild has created more than 30 self-owned IPs, and the only one that is truly well-known is \"Bear Infested\". However, this 8-year-old IP has not brought much color to Huaqiang Fantawild's theme park.</p><p>The reason is that the main audience of Bear Infested is children, but the target consumers of the theme park are young people aged 20 ~ 30. The aging of IP, the dislocation of target groups and the reduction of attractiveness naturally make the realization of theme parks even more weak.</p><p>Huaqiang Fantawild hopes to create an IP for higher age groups, so it took five years to launch the fantasy animation film \"City of Figurines\".</p><p>The film was released this summer, and the box office was fierce-although the special effects were good, the plot and characterization were \"crotch-stretching\", and the setting of national style elements such as Terracotta Warriors and Horses and Shan Hai Jing was too confusing, and it also \"brought\" many explosive elements of Pixar and Disney animated films...</p><p>Children may not understand it. In front of well-informed adult consumers, the originality proclaimed by the producer of \"City of Figurines\" is like a joke.</p><p><b>Theme park blessings are yet to come</b></p><p>Theme parks belong to the asset-heavy operation mode, and the remaining theme parks that are still in business today are the products of the big waves in the past ten years.</p><p>According to statistics, within ten years since Shanghai Disneyland announced its construction, 80% of theme parks have closed down successively, such as the famous Oriental Park, \"Tiangong Tribe\" and Orange Island Beach Park.</p><p>According to previous reports, around 2016, there were about 300 domestic theme parks with an investment of more than 50 million yuan, 70% of which were at a loss, 20% were flat, and only 10% were profitable. About 150 billion yuan was stuck in the investment of theme parks.</p><p>Today's theme parks have gradually got rid of the state of barbaric growth at that time, and have begun to move towards the development path of scientific planning and IP operation, and their operations are on the right track.</p><p>Judging from the financial report in the first half of this year, OCT's comprehensive tourism business achieved revenue of 18.922 billion yuan and gross profit of 4.685 billion yuan, a year-on-year increase of 89.93% and 24.98% respectively. The company's 26 scenic spots, 25 hotels, 1 travel agency, 6 open tourist areas, and 1 tourist performing arts received a total of 28.482 million tourists, recovering to 160% of the same period in 2019.</p><p>The performance of Sunac's cultural tourism sector is also growing rapidly. In the first half of this year, the operating income was 2.61 billion yuan, a year-on-year increase of 166%; The passenger flow reached 72.01 million, a year-on-year increase of 103%.</p><p>Although Huaqiang Fantawild has its own troubles, the operating income of theme parks in the first half of this year was 1.789 billion yuan, a year-on-year increase of 37.37%. In addition, in the first half of 2021, the tourist reception of Fantawild Theme Park has recovered to nearly 90% of the same period in 2019.</p><p>These achievements also benefited from consumers' \"retaliatory\" travel and consumption after the epidemic. In addition, consumers' consumption mentality has also undergone some changes-whether it is playing, shopping or dining, they are more pursuing novel and fun offline experiences, which is an excellent opportunity for theme parks.</p><p>Therefore,<b>Constantly bringing freshness to consumers has become extra important. Differentiated positioning, equipment update and iteration, technology upgrade... these have all become the eternal topics and investment focus of theme park operators.</b></p><p>Now that you want to enter the theme park, latecomers need to solve more and more problems.</p><p>Take Pop Mart as an example. Its brand is attracted by many trendy consumers in first-and second-tier cities, so the location of the park is bound to be limited to this range, and the cost is bound to increase substantially;</p><p>In terms of the reserve of park facilities and technologies, Pop Mart is likely to only adopt the supplier cooperation system, instead of independent research and development. Even if it does self-research, it is not as good as its predecessors who have accumulated years of experience;</p><p>In terms of the operation of its own IP, most of Pop Mart's IPs are in the initial stage of development-that is, there is only a simple IP image, and there is no story or connotation behind it. Disney and Universal Studios, which hold multiple classic IPs in the same hand, are not at all. The level of magnitude is not even more universal than Huaqiang Fantawild's \"Bear Infested\";</p><p>Plus<a href=\"https://laohu8.com/S/SONY\">Sony</a>, Nintendo, Lego and other companies with massive mature IP, unique gameplay and culture are also eyeing this track...</p><p>It's difficult to successfully operate a theme park!</p>","source":"lsy1574404730537","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>Theme park, Pop Mart can play, understand?</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\">\nTheme park, Pop Mart can play, understand?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新零售商业评论</strong><span class=\"h-time small\">2021-09-14 15:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Since 2016 Shanghai<a href=\"https://laohu8.com/S/DIS\">Disney</a>After the opening, there has been a trend of theme park construction in China. Happy Valley, Wanda Park, Huaqiang Fantawild, Chimelong... all have to compete with Disney.</p><p>Now that five years have passed, Shanghai Disneyland is still crowded. Universal Studios Beijing is about to open lively, Wanda Park changes hands to Sunac, Legoland,<a href=\"https://laohu8.com/S/SNE\">Sony</a>More theme parks, such as parks, are eyeing the Chinese market... The development of theme parks in China has entered a new chapter.</p><p>Not long ago,<a href=\"https://laohu8.com/S/09992\">Pop Mart</a>It also joined the war situation and established a wholly-owned subsidiary Beijing Pop Mart Paradise Management Co., Ltd. to continue to expand its IP territory.</p><p>However, only those IPs in the blind box obviously won't work. We helped Pop Mart figure out what else they need to prepare to run a theme park.</p><p><b>What does it really take to run a theme park?</b></p><p><b>A piece of land</b></p><p>To build a theme park, you must first have a piece of land.</p><p>Many domestic amusement park operators, such as OCT, Sunac and previously Wanda, are real estate developers, and they have natural advantages in land planning. Therefore, Happy Valley, Sunac Paradise, etc. are all taking the route of \"tourism + real estate\".</p><p>Shanghai Disneyland and Universal Studios Beijing have chosen to cooperate with local governments and real estate developers in order to successfully acquire land. In addition to the more combination of Chinese and Western operating models, the operation idea is still \"tourism + real estate\".</p><p>From the perspective of specific regional selection, Shanghai Disneyland and Universal Studios Beijing are currently in strong areas (Pudong New Area, Tongzhou) with better geographical and transportation advantages in their respective cities. Latecomers, such as Legoland, will find it difficult to get better land, and they can only rank second to sub-optimal areas such as Jinshan District in Shanghai and Fangshan District in Beijing.</p><p>Huaqiang Fantawild, Sunac, Songcheng, Chimelong and other parks gave up the first-and second-tier cities with relatively fierce competition from the very beginning, and instead chose to give full play to their strengths in their own advantageous areas.</p><p><b>Rich and interesting entertainment facilities</b></p><p>Thrilling roller coasters, dreamy merry-go-rounds, huge castles, realistic 4D technology... these have become the \"standard\" of theme parks, and these entertainment facilities and corresponding visual presentation technologies have been updated and iterated.</p><p>The collision between new technology and old technology can be clearly felt at Universal Studios Beijing.</p><p>A Up owner of Station B who went to punch in said that the experience of Minions was many levels higher than that of Harry Potter.</p><p>It is reported that the Minions section uses the latest 4D presentation technology, and the picture quality is high. However, \"Harry Potter's Forbidden Journey\" still uses the presentation technology of the first Harry Potter theme park in Universal Studios Orlando in 2007, and the picture is very blurry.</p><p>In terms of entertainment facilities and presentation technology, Huaqiang Fantawild can be regarded as one of the domestic enterprises with strong voice. Thanks to starting with the sale of special film equipment, the founder of Huaqiang Fantawild once said in the media: \"We all have Disney's technology.\"</p><p><img src=\"https://static.tigerbbs.com/1839ed832cf7272eff09472a111f37f6\" tg-width=\"599\" tg-height=\"412\" referrerpolicy=\"no-referrer\"></p><p>This is an important opportunity for Huaqiang Fantawild to gradually transform from indoor amusement facilities to outdoor theme parks, and it also makes up for its relative disadvantage in real estate-after all, \"fun\" is the key factor for theme parks to attract tourists.</p><p>It is reported that Huaqiang Fangte opens theme parks mainly through cooperation with various investors for investment and construction. Huaqiang Fangte provides special equipment, installation services, special effects engineering construction services or engineering management services.</p><p>However, the operators of theme parks such as OCT, Sunac and Chimelong, which already have real estate operation capabilities, can only choose third-party cooperation to introduce equipment and technology.</p><p><b>Mature IP and operational capabilities</b></p><p>This is the top priority of the theme park.</p><p>Most of the IPs owned by Disney and Universal Studios have formed some kind of cultural symbol, which has had a far-reaching impact on a global scale.</p><p>For example, Harry Potter fans, Star Wars fans and Lord of the Rings fans all have a mature internal slang system (such as spells and elves), and they are usually proud of showing their unique fan characteristics, which makes the corresponding IP periphery have more room for development.</p><p>What fan would go on a forbidden trip to Harry Potter at Universal Studios without buying a magic wand and drinking a butterbeer? Which fan will be willing to return empty-handed when he sees the helmet of the storm soldier when he goes to the Disney Mall?</p><p>What's more, most of these IPs have been accumulated for decades, and the content of the story has been constantly pushed out to cater to the appetite of new and old fans, which has had a huge influence on generations, and these influences have given birth to the strong spending power of tourists visiting theme parks.</p><p>But these alone are not enough. The soul of the theme park is to make these IPs \"live\" in the park and bring visitors a realistic immersive experience.</p><p>Disney has always been known for its dreams, because it is a fairy tale kingdom, in which all the fairy tale characters are vivid. They will greet and interact with tourists, and they will also tell some narrations that conform to the \"people's design\". When you walk into the park, you will feel happy from the bottom of your heart. This kind of appeal is unprecedented in many theme parks in China before.</p><p>Universal Studios is not far behind. Some netizens said that when you come to Harry Potter's forbidden trip and want to find a charging treasure, the staff will tell you, \"That's for Muggles, we don't have it here.\"</p><p>A wave of the induction wand will produce scene changes, and myrtle crying in the toilet... are all important designs to increase the sense of experience.</p><p><img src=\"https://static.tigerbbs.com/44c7be8377cea3265e872dbc9f4f80e6\" tg-width=\"500\" tg-height=\"328\" referrerpolicy=\"no-referrer\"></p><p>To present these IPs as authentically as possible, it benefits from the \"Chinese main investment + American main operation\" model of Shanghai Disneyland and Universal Studios Beijing.</p><p>Shanghai Disneyland is jointly invested by Shendi Group and Disney to set up three enterprises, two of which are owner companies and the third is management companies.</p><p>Just like the hotel management mode, the management company jointly established by both parties accepts the entrustment of the owner company and is responsible for the creativity, design, development and daily operation management of the project. This is also the first time in an overseas park invested by Disney.</p><p>Universal Studios Beijing also borrowed from this model, with Beijing Shouhuan Cultural Tourism Investment Co., Ltd. (referred to as \"Shouhuan Investment\") and Universal Theme Company and Resort (<a href=\"https://laohu8.com/S/CMCSK\">Comcast</a>NBC Universal's business segments) joint venture operations, with equity ratios of 70% and 30%.</p><p>The advantage of this is that, as the holder of IP, the United States has a better understanding of the true value of IP, so that it can maximize these values.</p><p>Back in the theme parks in China, they are somewhat a clever woman in IP operation.</p><p>OCT and Sunac basically adopt the way of cooperating with mature IP in China, which is more like branding IP on their own amusement facilities or staff, so as to attract the audience of a certain IP to come and play.</p><p>For example, Nanjing Happy Valley, which opened last year, was bound to Little Yellow Duck IP. In Nanjing, where \"no duck can swim out\", this IP is of course very popular, and its positioning is accurate.</p><p><img src=\"https://static.tigerbbs.com/4206f3e0889dc0dec204f2836239501e\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p><p>However, even if you have your own IP, it is still not easy to create an excellent sense of immersion. After all, the experience is a feeling that is both individual and subtle.</p><p>Located by Yangcheng Lake in Suzhou<a href=\"https://laohu8.com/S/300027\">Huayi Brothers</a>In the world of movies, there are many Huayi Brothers movie IPs such as \"If You Are the One\", \"Di Renjie's Empire of Heaven\" and \"Tai Chi\", but in terms of IP operation-many projects have real scenes but no interaction, which can neither bring real immersive experience to consumers, nor can it increase user stickiness, leaving only monotonous photos as souvenirs, and ultimately the crowd is left out.</p><p>Huaqiang Fangte has certain uniqueness and originality in the operation of its own IP and theme parks, and \"<b>Tourism + Real Estate</b>\"The model is different, Huaqiang Fantawild's strategy is\"<b>Culture + Technology</b>\", take the route that content is king.</p><p>But it is destined to be a very difficult road to keep up with Disney.</p><p>In the past ten years, Huaqiang Fantawild has created more than 30 self-owned IPs, and the only one that is truly well-known is \"Bear Infested\". However, this 8-year-old IP has not brought much color to Huaqiang Fantawild's theme park.</p><p>The reason is that the main audience of Bear Infested is children, but the target consumers of the theme park are young people aged 20 ~ 30. The aging of IP, the dislocation of target groups and the reduction of attractiveness naturally make the realization of theme parks even more weak.</p><p>Huaqiang Fantawild hopes to create an IP for higher age groups, so it took five years to launch the fantasy animation film \"City of Figurines\".</p><p>The film was released this summer, and the box office was fierce-although the special effects were good, the plot and characterization were \"crotch-stretching\", and the setting of national style elements such as Terracotta Warriors and Horses and Shan Hai Jing was too confusing, and it also \"brought\" many explosive elements of Pixar and Disney animated films...</p><p>Children may not understand it. In front of well-informed adult consumers, the originality proclaimed by the producer of \"City of Figurines\" is like a joke.</p><p><b>Theme park blessings are yet to come</b></p><p>Theme parks belong to the asset-heavy operation mode, and the remaining theme parks that are still in business today are the products of the big waves in the past ten years.</p><p>According to statistics, within ten years since Shanghai Disneyland announced its construction, 80% of theme parks have closed down successively, such as the famous Oriental Park, \"Tiangong Tribe\" and Orange Island Beach Park.</p><p>According to previous reports, around 2016, there were about 300 domestic theme parks with an investment of more than 50 million yuan, 70% of which were at a loss, 20% were flat, and only 10% were profitable. About 150 billion yuan was stuck in the investment of theme parks.</p><p>Today's theme parks have gradually got rid of the state of barbaric growth at that time, and have begun to move towards the development path of scientific planning and IP operation, and their operations are on the right track.</p><p>Judging from the financial report in the first half of this year, OCT's comprehensive tourism business achieved revenue of 18.922 billion yuan and gross profit of 4.685 billion yuan, a year-on-year increase of 89.93% and 24.98% respectively. The company's 26 scenic spots, 25 hotels, 1 travel agency, 6 open tourist areas, and 1 tourist performing arts received a total of 28.482 million tourists, recovering to 160% of the same period in 2019.</p><p>The performance of Sunac's cultural tourism sector is also growing rapidly. In the first half of this year, the operating income was 2.61 billion yuan, a year-on-year increase of 166%; The passenger flow reached 72.01 million, a year-on-year increase of 103%.</p><p>Although Huaqiang Fantawild has its own troubles, the operating income of theme parks in the first half of this year was 1.789 billion yuan, a year-on-year increase of 37.37%. In addition, in the first half of 2021, the tourist reception of Fantawild Theme Park has recovered to nearly 90% of the same period in 2019.</p><p>These achievements also benefited from consumers' \"retaliatory\" travel and consumption after the epidemic. In addition, consumers' consumption mentality has also undergone some changes-whether it is playing, shopping or dining, they are more pursuing novel and fun offline experiences, which is an excellent opportunity for theme parks.</p><p>Therefore,<b>Constantly bringing freshness to consumers has become extra important. Differentiated positioning, equipment update and iteration, technology upgrade... these have all become the eternal topics and investment focus of theme park operators.</b></p><p>Now that you want to enter the theme park, latecomers need to solve more and more problems.</p><p>Take Pop Mart as an example. Its brand is attracted by many trendy consumers in first-and second-tier cities, so the location of the park is bound to be limited to this range, and the cost is bound to increase substantially;</p><p>In terms of the reserve of park facilities and technologies, Pop Mart is likely to only adopt the supplier cooperation system, instead of independent research and development. Even if it does self-research, it is not as good as its predecessors who have accumulated years of experience;</p><p>In terms of the operation of its own IP, most of Pop Mart's IPs are in the initial stage of development-that is, there is only a simple IP image, and there is no story or connotation behind it. Disney and Universal Studios, which hold multiple classic IPs in the same hand, are not at all. The level of magnitude is not even more universal than Huaqiang Fantawild's \"Bear Infested\";</p><p>Plus<a href=\"https://laohu8.com/S/SONY\">Sony</a>, Nintendo, Lego and other companies with massive mature IP, unique gameplay and culture are also eyeing this track...</p><p>It's difficult to successfully operate a theme park!</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/53bP0asYmXbrZnjajwdTNQ\">新零售商业评论</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/813c01a66ea8b058bb0f8a728d2c75e2","relate_stocks":{"09992":"泡泡玛特"},"source_url":"https://mp.weixin.qq.com/s/53bP0asYmXbrZnjajwdTNQ","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1181453869","content_text":"自2016年上海迪士尼开放后，国内便刮起了一股主题乐园建设风，欢乐谷、万达乐园、华强方特、长隆……个个都要和迪士尼比划比划。\n如今五年已过，上海迪士尼仍然人头攒动。北京环球影城即将热闹开幕，万达乐园易手融创，乐高乐园、索尼乐园等更多主题乐园正对中国市场虎视眈眈……中国主题乐园的发展迈入了新的篇章。\n前不久，泡泡玛特也加入战局，成立全资子公司北京泡泡玛特乐园管理有限公司，要将其IP版图继续扩张。\n然而，只有盲盒里的那些IP显然不行。我们帮泡泡玛特捋了捋，要经营一座主题乐园，他们还需要准备些什么。\n 经营一座主题乐园到底需要什么？\n一块地\n要建立一座主题乐园，首先必须要有一块地。\n国内许多游乐园运营方，如华侨城、融创以及此前的万达都是地产商，他们对于地皮的规划有着天然的优势。因此，欢乐谷、融创乐园等，走的都是“旅游+地产”的路线。\n上海迪士尼和北京环球影城为了能顺利拿地，都选择与当地政府、地产商进行合作。除了运营模式更加中西合璧之外，运营思路仍是“旅游+地产”。\n从具体区域选择来看，目前上海迪士尼和北京环球影城都在各自城市中的占据更优地理、交通等优势的强势区域（浦东新区、通州），后来者，如乐高乐园，就很难再拿到更好的地皮，只能屈居上海的金山区、北京的房山区这样的次优区域。\n华强方特、融创、宋城、长隆等乐园，则从一开始就放弃了竞争相对激烈的一二线城市，而是选择在自己的优势地区发挥特长。\n丰富有趣的娱乐设施\n惊险刺激的过山车，梦幻的旋转木马，巨大的城堡，逼真的4D技术……这些都成为了主题乐园的“标配”，并且这些娱乐设施和相应的视觉呈现技术一直在更新迭代。\n在北京环球影城就能明显地感受到新技术和旧技术的碰撞。\n一位前去打卡的B站Up主表示，小黄人的体验比哈利·波特上了许多个档次。\n据悉，小黄人版块使用了最新的4D呈现技术，画质高清。但“哈利·波特禁忌之旅”使用的，仍是2007年美国奥兰多环球影城内第一家哈利·波特主题乐园的呈现技术，画面十分模糊。\n在娱乐设施和呈现技术上，华强方特称得上是话语权较强的国内企业之一。得益于以销售特种电影设备起家，华强方特创始人曾在媒体上称：“迪士尼的技术我们都有。”\n\n这正是促使华强方特从室内游乐设施逐渐转型室外主题乐园的重要契机，也弥补了其在地产上的相对劣势——毕竟，“好玩”才是主题乐园吸引游客的关键因素。\n据悉，华强方特开设主题乐园主要是通过与各类投资者合作投资建设的方式，华强方特提供特种设备以及安装服务、特效工程建设服务或工程管理服务。\n而本就拥有地产运营能力的华侨城、融创、长隆等主题乐园的运营方，只能选择第三方合作的方式来引入设备和技术。\n成熟的IP及运营能力\n这是主题乐园的重中之重。\n迪士尼和环球影城所拥有的IP，大都已经形成了某种文化象征，在全球范围内产生了深远的影响。\n如哈利·波特迷、星球大战迷和魔戒迷们，都拥有一套成熟的内部黑话体系（如魔咒、精灵语），平时也以彰显自己独特的粉丝特征为荣，这便让相应的IP周边有了更多的发展空间。\n哪个粉丝去环球影城的哈利·波特禁忌之旅，会不买一根魔杖、不喝一杯黄油啤酒呢？哪个粉丝去迪士尼商城逛的时候，看到风暴兵的头盔会甘心空手而归呢？\n更何况这些IP大都已经有了数十年的积累，在故事内容上不断推陈出以新迎合新老粉丝的胃口，对几代人都产生了巨大的影响力，而这些影响力又催生出了逛主题乐园的游客的旺盛消费力。\n但光有这些还不够，主题乐园的灵魂是让这些IP在园区内“活”起来，带给游客逼真的沉浸式体验。\n迪士尼向来以梦幻著称，因为这就是一个童话王国，其中所有的童话人物都是鲜活的，会和游客打招呼互动，也会说出一些符合“人设”的旁白，走进乐园，会发自内心地感到快乐，这种感染力是此前国内许多主题乐园不曾有的。\n环球影城也不遑多让。有网友说，来到哈利·波特禁忌之旅，想找个充电宝，工作人员都会告诉你：“那是麻瓜用的，我们这儿没有。”\n挥一挥感应魔杖就会产生场景变化、厕所里哭泣的桃金娘……都是增加体验感的重要设计。\n\n要把这些IP尽可能原汁原味地呈现出来，得益于上海迪士尼和北京环球影城的“中方主投资+美方主运营”的模式。\n上海迪士尼由申迪集团与迪士尼共同投资设立了三家企业，其中两家是业主公司，第三家是管理公司。\n就像酒店的管理模式一样，双方合作成立的管理公司接受业主公司的委托，负责项目的创意、设计、开发和日常运营管理工作。这在迪士尼投资的海外乐园中也是第一次。\n北京环球影城同样借鉴了这个模式，由北京首寰文化旅游投资有限公司（简称“首寰投资”）和环球主题公司及度假区（康卡斯特NBC环球下属业务板块）合资经营，股权比例为70%和30%。\n这样做的好处是，作为IP的持有者，美方更了解IP真正的价值所在，从而能够将这些价值最大化。\n回到国内的主题乐园，他们在IP运营方面就多少有点巧妇难为无米之炊了。\n华侨城和融创基本采取的是和国内成熟IP合作的方式，更像是把IP贴牌在自家的游乐设施或者工作人员身上，从而吸引某个IP的受众前来游玩。\n如去年开业的南京欢乐谷，就和小黄鸭IP进行了绑定。在“没有一只鸭子能游出去”的南京，这个IP当然深受欢迎，也算定位准确。\n\n然而，即便有自有IP，要打造出色的沉浸感仍不是件容易的事，毕竟体验是一种既个性又微妙的感觉。\n坐落在苏州阳澄湖边的华谊兄弟电影世界，有《非诚勿扰》《狄仁杰之通天帝国》《太极》等多部华谊兄弟电影IP坐镇，但摆在IP运营上——许多项目空有实景却没有互动，既不能给消费者带来真正的沉浸式体验，更无法增加用户黏性，只剩下单调的拍照留念，最终门庭冷落。\n华强方特在自创IP和主题乐园的运营上有一定的独特性和原创性，和“旅游+地产”的模式不同，华强方特的战略是“文化+科技”，走内容为王的路线。\n但要想向迪士尼看齐，注定是一条非常难走的路。\n近十年来，华强方特打造了30余个自有IP，真正家喻户晓的只有《熊出没》。然而，这个有着8年历史的IP并没有为华强方特的主题乐园带来太多增色。\n究其原因，《熊出没》的主要受众是儿童，但主题公园的目标消费人群是20~30岁的年轻人。IP老化，目标人群错位，吸引力降低，自然使得主题公园的变现更加乏力。\n华强方特希望打造一个面向更高年龄层的IP，于是历时5年推出了奇幻题材的动漫电影《俑之城》。\n该片今年暑期上映，票房惨烈——特效虽好，但剧情、人物塑造“拉胯”，包含兵马俑、山海经等国风元素的设定太过混乱，还“拿来”了不少皮克斯、迪士尼动画电影的爆款元素……\n小朋友们可能看不懂，在见多识广的成人消费者面前，《俑之城》制作方自诩的原创像个笑话。\n 主题乐园的福气还在后头\n主题乐园属于重资产的运营模式，如今剩下的这些仍在营业的主题乐园，都是近十年来大浪淘沙下的产物。\n据统计，自上海迪士尼宣布建设开始的十年内，有80%的主题乐园先后倒闭，比如著名的东方乐园、“天工部落”、橘子洲沙滩乐园等。\n据此前报道，2016年前后国内主题乐园投资在5000万元以上的有300家左右，70%处于亏损状态，20%持平，只有10%实现盈利，约有1500亿元资金套牢在主题乐园的投资中。\n如今的主题乐园已经逐渐摆脱当时野蛮生长的状态，开始走向科学规划、IP运营的发展路径，运营也走上了正轨。\n从今年上半年的财报来看，华侨城的旅游综合业务实现收入189.22亿元、毛利46.85亿元，分别同比增长89.93%、24.98%。公司旗下26家景区、25家酒店、1家旅行社、6家开放式旅游区、1台旅游演艺共接待游客2848.2万人次，恢复至2019年同期的160%。\n融创文旅板块业绩也在快速增长，今年上半年营业收入26.1亿元，同比增长166%；客流量达7201万人次，同比提升103%。\n华强方特虽然有着自己的困扰，但今年上半年主题公园运营收入17.89亿元，同比增37.37%。此外，2021上半年，方特主题公园游客接待已恢复至2019年同期的近九成。\n这些成绩也得益于疫情之后，消费者们的“报复性”旅游、消费。此外，消费者们的消费心态也发生了些许转变——无论是游玩、购物还是餐饮，他们都更追求新奇、好玩的线下体验，这对主题乐园来说是绝佳的机遇。\n因此，不断为消费者带来新鲜感变得格外重要。差异化的定位、设备的更新迭代、技术的升级……这些都成为了主题乐园运营者永恒的话题和投入的重点。\n现在想入局主题乐园，后来者需要解决的问题越来越多。\n就拿泡泡玛特为例，其品牌受众多为一二线城市的新潮消费者，那么乐园的选址就势必只能限定在这个范围，成本必然大幅度增加；\n在乐园设施和技术的储备上，泡泡玛特很可能只能采取供应商合作制，而不可能自主研发，就算自研，也比不上有多年经验积累的前辈们；\n在自有IP的运营上，泡泡玛特的IP大多处在发展的初级阶段——即只有一个简单的IP形象，背后没有故事和内涵，同手握多个经典IP的迪士尼、环球影城根本不在一个量级水平，甚至比不上华强方特的《熊出没》更具普适性；\n再加上索尼、任天堂、乐高等拥有海量成熟IP、独特玩法和文化的企业也正对这一个赛道虎视眈眈……\n想成功运营一座主题乐园，难着呢！","news_type":1,"symbols_score_info":{"09992":0.9}},"isVote":1,"tweetType":1,"viewCount":533,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":816721157,"gmtCreate":1630537330979,"gmtModify":1676530330874,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"htmlText":"Jj","listText":"Jj","text":"Jj","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/816721157","repostId":"2164819075","repostType":2,"repost":{"id":"2164819075","kind":"news","pubTimestamp":1630531740,"share":"https://ttm.financial/m/news/2164819075?lang=en_US&edition=fundamental","pubTime":"2021-09-02 05:29","market":"us","language":"zh","title":"Apple's ultimate product exposed in the Cook era! Unprecedented blockbuster new categories","url":"https://stock-news.laohu8.com/highlight/detail?id=2164819075","media":"超超","summary":"　　据报道，库克希望在任期结束前为苹果再开拓出一个新品类。可能很多人会自然想到Apple Car，但Gurman的观点却是虚拟现实/增强现实相关。库克明白，汽车不是一蹴而就的产品，还很遥远。况且机会要留给硅谷年轻人，他已无法超越自己的巅峰。　　当然，这也显得“鸡贼”...","content":"<p><html><body><div><div itemprop=\"articleBody\"><img src=\"https://article-fd.zol-img.com.cn/t_s640x2000/g6/M00/03/09/ChMkKWEsOCmIY18_AACS3EH7YKsAATO9wCUh7UAAJL0322.jpg\"/><div><div><div></div></div></div>Cook reportedly hopes to provide<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Open up a new category. Many people may naturally think of Apple Car, but Gurman's point of view is that virtual reality/augmented reality is related. Cook understands that cars are not a product that can be achieved overnight, and they are still far away. Besides, the opportunity should be reserved for young people in Silicon Valley, who can no longer surpass his peak.</p><p><span></span><img height=\"369\" src=\"https://article-fd.zol-img.com.cn/t_s640x2000/g6/M00/03/09/ChMkKWEsOCmIY18_AACS3EH7YKsAATO9wCUh7UAAJL0322.jpg\" width=\"553\"/></p><p>Of course, this also seems to be a \"chicken thief\". The automobile project is the icing on the cake. Once it fails, it will be \"ruined\".</p><p>According to the plan, Apple's mixed reality headset will be launched around 2022, and its augmented reality headset will have to wait until around 2025.</p><p>According to reports, Cook's salary contract ends in 2025, and he will most likely retire between 2025 and 2028. He has previously said that he should not stay at Apple in the next 10 years.</p><p><div><img src=\"https://2c.zol-img.com.cn/product/209_100x75/426/ceIMvcQduLQ.jpg\"/></p><p><strong>Apple Macbook Pro 13 (M1/8GB/256GB/8-core) Apple M1 processor, octa-core graphics, Retina display, Magic backlit keyboard</strong></p><p><zspan>[Dealer]</zspan>Jingdong Mall</p><p><zspan>[Product Selling Price]</zspan>9999 yuan</p><p>Enter to buy</p><p></div><div><img src=\"https://2e.zol-img.com.cn/product/209_100x75/428/ceuKx1GDAAurI.jpg\"/></p><p><strong>Apple MacBook Air 13 (M1/8GB/256GB/7-core) Apple M1 processor, seven-core graphics, Retina display, Magic backlit keyboard</strong></p><p>Gift</p><p><zspan>[Dealer]</zspan>Jingdong Mall</p><p><zspan>[Product Selling Price]</zspan>7999 yuan</p><p>Enter to buy</p><p></div>This article is an original article. If reprinted, please indicate the source: Apple's ultimate product exposure in Cook era! Unprecedented blockbuster new categories https://nb.zol.com.cn/775/7755068.html</p><p><div zpv-events-inview=\"article-cont-bottom-viewport\"></div><div><ul><li><img height=\"245\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g6/M00/0B/04/ChMkKmARHpeIDmP7AACzO3gPNxkAAI_PgG7XiQAALNT346.jpg\" width=\"310\"/></li><li><img height=\"120\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g6/M00/0B/04/ChMkKmARH4KICVugAABL6mLnMuUAAI_PwN2wj0AAEwC833.jpg\" width=\"160\"/></li><li><img height=\"120\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g2/M00/06/0D/ChMlWV7DUqGIEd4KAABSddzqzb8AAPQewBNvBIAAFKN718.jpg\" width=\"160\"/></li><li><img height=\"120\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g2/M00/00/0A/ChMlWl6yFS6ISPeRAABE3b1wTUQAAO30wCU8tkAAET1631.jpg\" width=\"160\"/></li><li><img height=\"120\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g2/M00/00/0A/ChMlWl6yFNSIDy5FAABY1BMw0loAAO30gFvVi8AAFjs005.jpg\" width=\"160\"/></li><li><img height=\"100\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g6/M00/04/05/ChMkKmAfh1iIV3AtAAEwe7C4uDsAAJjoAEpWccAATCT092.jpg\" width=\"640\"/></li></ul></div><div><span itemprop=\"url\">https://nb.zol.com.cn/775/7755068.html</span><span itemprop=\"indexUrl\">nb.zol.com.cn</span><span itemprop=\"isOriginal\">true</span><span itemprop=\"author\"><a href=\"https://laohu8.com/S/000931\">Zhongguancun</a>Online</span><span itemprop=\"isBasedOnUrl\">https://nb.zol.com.cn/775/7755068.html</span><span itemprop=\"genre\">report</span><span itemprop=\"wordCount\">804</span><span itemprop=\"description\">According to reports, Cook hopes to open up a new category for Apple before the end of his term. Many people may naturally think of Apple Car, but Gurman's point of view is that virtual reality/augmented reality is related. Cook understands that cars are not a product that can be achieved overnight, and they are still far away. Besides, the opportunity should be reserved for young people in Silicon Valley, who can no longer surpass his peak. Of course, this also seems \"chicken thief\"...</span></div></div></div></body></html></p>","source":"zol_stock","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 ultimate product exposed in the Cook era! Unprecedented blockbuster new categories</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 ultimate product exposed in the Cook era! Unprecedented blockbuster new categories\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">超超</strong><span class=\"h-time small\">2021-09-02 05:29</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><body><div><div itemprop=\"articleBody\"><img src=\"https://article-fd.zol-img.com.cn/t_s640x2000/g6/M00/03/09/ChMkKWEsOCmIY18_AACS3EH7YKsAATO9wCUh7UAAJL0322.jpg\"/><div><div><div></div></div></div>Cook reportedly hopes to provide<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Open up a new category. Many people may naturally think of Apple Car, but Gurman's point of view is that virtual reality/augmented reality is related. Cook understands that cars are not a product that can be achieved overnight, and they are still far away. Besides, the opportunity should be reserved for young people in Silicon Valley, who can no longer surpass his peak.</p><p><span></span><img height=\"369\" src=\"https://article-fd.zol-img.com.cn/t_s640x2000/g6/M00/03/09/ChMkKWEsOCmIY18_AACS3EH7YKsAATO9wCUh7UAAJL0322.jpg\" width=\"553\"/></p><p>Of course, this also seems to be a \"chicken thief\". The automobile project is the icing on the cake. Once it fails, it will be \"ruined\".</p><p>According to the plan, Apple's mixed reality headset will be launched around 2022, and its augmented reality headset will have to wait until around 2025.</p><p>According to reports, Cook's salary contract ends in 2025, and he will most likely retire between 2025 and 2028. He has previously said that he should not stay at Apple in the next 10 years.</p><p><div><img src=\"https://2c.zol-img.com.cn/product/209_100x75/426/ceIMvcQduLQ.jpg\"/></p><p><strong>Apple Macbook Pro 13 (M1/8GB/256GB/8-core) Apple M1 processor, octa-core graphics, Retina display, Magic backlit keyboard</strong></p><p><zspan>[Dealer]</zspan>Jingdong Mall</p><p><zspan>[Product Selling Price]</zspan>9999 yuan</p><p>Enter to buy</p><p></div><div><img src=\"https://2e.zol-img.com.cn/product/209_100x75/428/ceuKx1GDAAurI.jpg\"/></p><p><strong>Apple MacBook Air 13 (M1/8GB/256GB/7-core) Apple M1 processor, seven-core graphics, Retina display, Magic backlit keyboard</strong></p><p>Gift</p><p><zspan>[Dealer]</zspan>Jingdong Mall</p><p><zspan>[Product Selling Price]</zspan>7999 yuan</p><p>Enter to buy</p><p></div>This article is an original article. If reprinted, please indicate the source: Apple's ultimate product exposure in Cook era! Unprecedented blockbuster new categories https://nb.zol.com.cn/775/7755068.html</p><p><div zpv-events-inview=\"article-cont-bottom-viewport\"></div><div><ul><li><img height=\"245\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g6/M00/0B/04/ChMkKmARHpeIDmP7AACzO3gPNxkAAI_PgG7XiQAALNT346.jpg\" width=\"310\"/></li><li><img height=\"120\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g6/M00/0B/04/ChMkKmARH4KICVugAABL6mLnMuUAAI_PwN2wj0AAEwC833.jpg\" width=\"160\"/></li><li><img height=\"120\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g2/M00/06/0D/ChMlWV7DUqGIEd4KAABSddzqzb8AAPQewBNvBIAAFKN718.jpg\" width=\"160\"/></li><li><img height=\"120\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g2/M00/00/0A/ChMlWl6yFS6ISPeRAABE3b1wTUQAAO30wCU8tkAAET1631.jpg\" width=\"160\"/></li><li><img height=\"120\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g2/M00/00/0A/ChMlWl6yFNSIDy5FAABY1BMw0loAAO30gFvVi8AAFjs005.jpg\" width=\"160\"/></li><li><img height=\"100\" src=\"https://dg-fd.zol-img.com.cn/t_s2000x2000/g6/M00/04/05/ChMkKmAfh1iIV3AtAAEwe7C4uDsAAJjoAEpWccAATCT092.jpg\" width=\"640\"/></li></ul></div><div><span itemprop=\"url\">https://nb.zol.com.cn/775/7755068.html</span><span itemprop=\"indexUrl\">nb.zol.com.cn</span><span itemprop=\"isOriginal\">true</span><span itemprop=\"author\"><a href=\"https://laohu8.com/S/000931\">Zhongguancun</a>Online</span><span itemprop=\"isBasedOnUrl\">https://nb.zol.com.cn/775/7755068.html</span><span itemprop=\"genre\">report</span><span itemprop=\"wordCount\">804</span><span itemprop=\"description\">According to reports, Cook hopes to open up a new category for Apple before the end of his term. Many people may naturally think of Apple Car, but Gurman's point of view is that virtual reality/augmented reality is related. Cook understands that cars are not a product that can be achieved overnight, and they are still far away. Besides, the opportunity should be reserved for young people in Silicon Valley, who can no longer surpass his peak. Of course, this also seems \"chicken thief\"...</span></div></div></div></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://nb.zol.com.cn/775/7755068.html\">超超</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/0d8ada6a43017d400bcffc8d2d50c562","relate_stocks":{"AAPL":"苹果"},"source_url":"http://nb.zol.com.cn/775/7755068.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164819075","content_text":"据报道，库克希望在任期结束前为苹果再开拓出一个新品类。可能很多人会自然想到Apple Car，但Gurman的观点却是虚拟现实/增强现实相关。库克明白，汽车不是一蹴而就的产品，还很遥远。况且机会要留给硅谷年轻人，他已无法超越自己的巅峰。　　当然，这也显得“鸡贼”，汽车项目做成了那叫锦上添花，一旦失败可就是“身败名裂”了。　　按计划，苹果的混合现实头显2022年左右推出、增强现实头显则要等到2025年左右。　　报道称，库克的工资合同到2025年结束，他大概率会在2025年到2028年之间退休。他此前曾表示，下一个10年自己应该不会呆在苹果了。苹果Macbook Pro 13(M1/8GB/256GB/8核) Apple M1处理器，八核核心显卡，视网膜显示屏，妙控背光键盘[经销商] 京东商城[产品售价] 9999元进入购买苹果MacBook Air 13(M1/8GB/256GB/7核) Apple M1处理器，七核核心显卡，视网膜显示屏，妙控背光键盘赠[经销商] 京东商城[产品售价] 7999元进入购买本文属于原创文章，如若转载，请注明来源：库克时代苹果终极产品曝光！前所未见的重磅新品类https://nb.zol.com.cn/775/7755068.html\n\n\n\n\n\nhttps://nb.zol.com.cn/775/7755068.html\nnb.zol.com.cn\ntrue\n中关村在线\nhttps://nb.zol.com.cn/775/7755068.html\nreport\n804\n　　据报道，库克希望在任期结束前为苹果再开拓出一个新品类。可能很多人会自然想到Apple Car，但Gurman的观点却是虚拟现实/增强现实相关。库克明白，汽车不是一蹴而就的产品，还很遥远。况且机会要留给硅谷年轻人，他已无法超越自己的巅峰。　　当然，这也显得“鸡贼”...","news_type":1,"symbols_score_info":{"AAPL":1}},"isVote":1,"tweetType":1,"viewCount":889,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":810097755,"gmtCreate":1629933791477,"gmtModify":1676530174067,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"htmlText":"Hh","listText":"Hh","text":"Hh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/810097755","repostId":"2162068635","repostType":2,"repost":{"id":"2162068635","kind":"news","pubTimestamp":1629928800,"share":"https://ttm.financial/m/news/2162068635?lang=en_US&edition=fundamental","pubTime":"2021-08-26 06:00","market":"hk","language":"zh","title":"Staring at when the Fed tapers its bond purchases is already out! Professionals say when it ends is more important","url":"https://stock-news.laohu8.com/highlight/detail?id=2162068635","media":"智通财经","summary":"近期金融市场上所有的讨论都是关于美联储何时开始缩减购债，专业人士们则指出，对于从股票、债券、货币到一切来说，更重要的不是何时开始，而是缩减购债何时会结束。美联储目前每月购买1200亿美元的证券，直到美国经济在实现最大就业和价格稳定目标方面取得实质性的进一步进展。当美联储在上一次经济衰退后退出每月购买850亿美元的购债计划时，该央行当时用了10个月的时间。目前货币市场交易员认为，美联储将在2023年第一季度首次加息。","content":"<p><html><body>Zhitong Finance APP learned that on Wednesday, as the annual meeting of global central banks in Jackson Hole was about to be held, investors waited with bated breath for Federal Reserve Chairman Powell's speech, and U.S. stocks closed slightly higher and hit a new high. All the recent discussion in financial markets has been about when the Fed will start tapering bond purchases. Professionals have pointed out that for everything from stocks, bonds, currencies, what is more important is not when to start, but when to tapering bond purchases. It will end.</p><p>Former Merrill Lynch trader Tom Essaye said: \"The key is how quickly the Fed exits easing policy, and then (when) it translates into the timing of the first rate hike.\"</p><p>The Federal Reserve is currently buying $120 billion in securities every month until the U.S. economy makes substantial further progress towards maximum employment and price stability targets. When the Federal Reserve pulled out of its $85 billion-a-month bond purchase program after the last recession, it took the central bank 10 months. The tapering of bond purchases at that time was announced in December 2013 and began the following month. Finally, all purchases were ended in October 2014 and the rate hike began in December 2015.</p><p>Money market traders currently believe that the Fed will conduct its first rate hike in the first quarter of 2023.<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>Guneet Dhingra, head of U.S. interest rate strategy, noted: \"When the Fed actually announces a shrinking balance sheet, it may also give some information about what speed it will take and what kind of information officials want to give in the process, which may provide a key signal for the rate hike cycle, especially when it comes to the speed of rate hike.\"</p><p><img src=\"https://img.zhitongcaijing.com/image/20210826/1629924063453122.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1629924063453122.png\"/></p><p>The U.S. ten-year Treasury Bond yield has steadily declined since March this year and is currently around 1.3%, not far from an all-time low, amid concerns that the Delta variant will curb the economic recovery. The gap between long-and short-term yields has also narrowed since hitting a more than five-year high in March, a sign of speculation that the Federal Reserve will begin withdrawing its stimulus efforts.</p><p>Morgan Stanley predicts that the yield of 10-year U.S. Treasury Bond will reach 1.8% by the end of this year, and the Federal Reserve will start its shrinking balance sheet in January next year and end it in October. The bank predicts that the Fed's first rate hike will take place in the second quarter of 2023.</p><p>Steven Barrow, a director at Standard Bank Group, said that if the Fed delays its shrinking balance sheet, the risk is greater than acting prematurely. He noted that the delay could force the central bank to raise interest rates within just a few months of ending bond purchases, which could uneasy financial markets and would put investors into safe havens such as the yen and the Swiss franc.</p><p>Barrow said: \"It would be dangerous for the Fed to do this (delay the end of bond purchases), and we know that it is not impossible for the Fed to raise interest rates sometime around the end of next year. I am more concerned about when the Fed shrinking balance sheet ends than when it starts.\"</p><p>The risk of normalization of Fed policy this time is greater, because against the background of near-zero interest rates and easing policies, there is another debt ceiling crisis, and the bond market is very sensitive to changes in interest rates. This risk extends to the stock market. Cheap money pouring into the market worldwide has driven down bond yields, stirring investors' pursuit of higher yields, and signs of bubbles are emerging almost everywhere.</p><p>George Goncalves, head of U.S. macro strategy at MUFG Securities Americas, said: \"In this case, the liquidity of margin is the most important thing. shrinking balance sheet's impact on assets will start from cryptocurrencies and extend to some stocks and high-yield bonds. shrinking balance sheet will have more impact on these assets than U.S. Treasury Bond, and (without the support of the Federal Reserve) these assets will have to start'self-reliance '.\"</p><p></body></html></p>","source":"stock_zhitongcaijing","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Staring at when the Fed tapers its bond purchases is already out! Professionals say when it ends is more important</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\">\nStaring at when the Fed tapers its bond purchases is already out! Professionals say when it ends is more important\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经</strong><span class=\"h-time small\">2021-08-26 06:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><body>Zhitong Finance APP learned that on Wednesday, as the annual meeting of global central banks in Jackson Hole was about to be held, investors waited with bated breath for Federal Reserve Chairman Powell's speech, and U.S. stocks closed slightly higher and hit a new high. All the recent discussion in financial markets has been about when the Fed will start tapering bond purchases. Professionals have pointed out that for everything from stocks, bonds, currencies, what is more important is not when to start, but when to tapering bond purchases. It will end.</p><p>Former Merrill Lynch trader Tom Essaye said: \"The key is how quickly the Fed exits easing policy, and then (when) it translates into the timing of the first rate hike.\"</p><p>The Federal Reserve is currently buying $120 billion in securities every month until the U.S. economy makes substantial further progress towards maximum employment and price stability targets. When the Federal Reserve pulled out of its $85 billion-a-month bond purchase program after the last recession, it took the central bank 10 months. The tapering of bond purchases at that time was announced in December 2013 and began the following month. Finally, all purchases were ended in October 2014 and the rate hike began in December 2015.</p><p>Money market traders currently believe that the Fed will conduct its first rate hike in the first quarter of 2023.<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>Guneet Dhingra, head of U.S. interest rate strategy, noted: \"When the Fed actually announces a shrinking balance sheet, it may also give some information about what speed it will take and what kind of information officials want to give in the process, which may provide a key signal for the rate hike cycle, especially when it comes to the speed of rate hike.\"</p><p><img src=\"https://img.zhitongcaijing.com/image/20210826/1629924063453122.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1629924063453122.png\"/></p><p>The U.S. ten-year Treasury Bond yield has steadily declined since March this year and is currently around 1.3%, not far from an all-time low, amid concerns that the Delta variant will curb the economic recovery. The gap between long-and short-term yields has also narrowed since hitting a more than five-year high in March, a sign of speculation that the Federal Reserve will begin withdrawing its stimulus efforts.</p><p>Morgan Stanley predicts that the yield of 10-year U.S. Treasury Bond will reach 1.8% by the end of this year, and the Federal Reserve will start its shrinking balance sheet in January next year and end it in October. The bank predicts that the Fed's first rate hike will take place in the second quarter of 2023.</p><p>Steven Barrow, a director at Standard Bank Group, said that if the Fed delays its shrinking balance sheet, the risk is greater than acting prematurely. He noted that the delay could force the central bank to raise interest rates within just a few months of ending bond purchases, which could uneasy financial markets and would put investors into safe havens such as the yen and the Swiss franc.</p><p>Barrow said: \"It would be dangerous for the Fed to do this (delay the end of bond purchases), and we know that it is not impossible for the Fed to raise interest rates sometime around the end of next year. I am more concerned about when the Fed shrinking balance sheet ends than when it starts.\"</p><p>The risk of normalization of Fed policy this time is greater, because against the background of near-zero interest rates and easing policies, there is another debt ceiling crisis, and the bond market is very sensitive to changes in interest rates. This risk extends to the stock market. Cheap money pouring into the market worldwide has driven down bond yields, stirring investors' pursuit of higher yields, and signs of bubbles are emerging almost everywhere.</p><p>George Goncalves, head of U.S. macro strategy at MUFG Securities Americas, said: \"In this case, the liquidity of margin is the most important thing. shrinking balance sheet's impact on assets will start from cryptocurrencies and extend to some stocks and high-yield bonds. shrinking balance sheet will have more impact on these assets than U.S. Treasury Bond, and (without the support of the Federal Reserve) these assets will have to start'self-reliance '.\"</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://www.zhitongcaijing.com/content/detail/544886.html\">智通财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/0f9e9a265cb0e7e8cb195039b2fe24a4","relate_stocks":{},"source_url":"http://www.zhitongcaijing.com/content/detail/544886.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2162068635","content_text":"智通财经APP获悉，周三，因杰克逊霍尔全球央行年会即将召开，投资者屏息凝神等待美联储主席鲍威尔的讲话，美股小幅收涨再创新高。近期金融市场上所有的讨论都是关于美联储何时开始缩减购债，专业人士们则指出，对于从股票、债券、货币到一切来说，更重要的不是何时开始，而是缩减购债何时会结束。前美林证券交易员Tom Essaye表示：“关键是美联储退出宽松政策的速度有多块，然后(什么时候)转化为第一次加息的时间。”美联储目前每月购买1200亿美元的证券，直到美国经济在实现最大就业和价格稳定目标方面取得实质性的进一步进展。当美联储在上一次经济衰退后退出每月购买850亿美元的购债计划时，该央行当时用了10个月的时间。当时的缩减购债是在2013年12月宣布的，并在次月开始，最后在2014年10月结束了所有的购买，于2015年12月开始加息。目前货币市场交易员认为，美联储将在2023年第一季度首次加息。摩根士丹利的美国利率策略主管Guneet \nDhingra指出：“当美联储实际宣布缩表时，它可能也会在一定程度上给出关于它将采取什么速度以及官员们想在这个过程中给出什么样的信息，这可能为加息周期提供一个关键信号，特别是在加息的速度方面。”自今年3月份以来，美国十年期国债收益率稳步下行，目前在1.3%左右，离历史最低点不远，因为人们担心Delta变种会抑制经济复苏。长期和短期收益率之间的差距自3月份创下五年多来的高点以来也有所缩小，这是人们猜测美联储将开始撤回其刺激措施的一个迹象。摩根士丹利预测，美国10年期国债收益率将在今年年底达到1.8%，美联储将在明年1月开始缩表，并在10月结束。该行预测，美联储的第一次加息将在2023年第二季度进行。Standard Bank Group的一位主管Steven \nBarrow表示，如果美联储推迟缩表，其风险要大于过早行动。他指出，推迟可能会迫使该央行在结束债券购买的短短几个月内提高利率，这可能会使金融市场感到不安，将使投资者进入日元和瑞士法郎等避风港。Barrow称：“美联储这样做(推迟结束债券购买)将是危险的，我们知道，美联储在明年年底前后的某个时候提高利率，这并非不可能。我更关注美联储缩表什么时候结束，而不是什么时候开始。”此次美联储政策的正常化风险更大，因为在接近零利率和宽松政策的背景下，又出现了债务上限危机，债券市场对利率的变化非常敏感。这种风险延申到了股市。全球范围内投入市场的廉价资金推动了债券收益率的下降，激起了投资者对高收益的追求，几乎所有地方都出现了泡沫的迹象。MUFG Securities Americas的美国宏观战略主管George \nGoncalves表示：“在这种情况下，保证金的流动性才是最重要的。缩表对资产的影响会从加密货币开始，延伸至一些股票和高收益债券。缩表对这些资产的影响将比美国国债更多，(失去美联储的支持)这些资产将不得不开始‘自力更生’”","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":710,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832153466,"gmtCreate":1629600244255,"gmtModify":1676530076827,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"htmlText":"Jsjsj","listText":"Jsjsj","text":"Jsjsj","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/832153466","repostId":"2161274943","repostType":2,"repost":{"id":"2161274943","kind":"highlight","pubTimestamp":1629592848,"share":"https://ttm.financial/m/news/2161274943?lang=en_US&edition=fundamental","pubTime":"2021-08-22 08:40","market":"us","language":"zh","title":"Or on Monday! Pfizer vaccine to be fully approved in the United States","url":"https://stock-news.laohu8.com/highlight/detail?id=2161274943","media":"华尔街见闻","summary":"不仅能为更多的人提供保护，全面获批也可能是辉瑞疫苗的一大里程碑。\n据《纽约时报》援引消息人士的话报道称，美国食品和药物管理局(FDA)可能于周一全面批准辉瑞公司的新冠疫苗。\n随着文书工作和与辉瑞的谈判","content":"<p>Not only can it provide protection for more people, but full approval may also be<a href=\"https://laohu8.com/S/PFE\">Pfizer</a>A big milestone for vaccines.</p><p>According to<a href=\"https://laohu8.com/S/NYT\">The New York Times</a>The U.S. Food and Drug Administration (FDA) could fully approve Pfizer's COVID-19 vaccine on Monday, \"reported, citing sources.</p><p>The final review outcome could exceed that date as paperwork and negotiations with Pfizer continue, a move that would make Pfizer's vaccine the first COVID-19 vaccine to go from emergency use authorization to full FDA approval.</p><p>On Aug. 8, Dr. Anthony Fauci, the White House's chief medical adviser, told The Associated Press that he hopes the vaccine will be fully approved within August, which will make more companies and schools mandatory for people to get vaccinated.</p><p>With the surge of new crown cases across the United States in recent weeks, major U.S. companies have become increasingly stringent on vaccinating employees. Some companies say they will use full FDA approval as part of their decision-making process.</p><p>As of Friday, data from the Centers for Disease Control and Prevention (CDC) showed that<b>More than 203 million doses of Pfizer's vaccine have been administered nationwide, effectively protecting more than 91 million people in the United States.</b></p><p>Pfizer and BioNTech began applying for biopharmaceutical licenses for vaccines in May this year after receiving emergency use authorization from the FDA in December last year.</p><p>As previously reported by CNBC, drugmakers authorized by the European Union were banned from promoting their vaccines.</p><p>But if duly authorized,<b>Pfizer and BioNTech's vaccines will remain on the market after the epidemic is over, and they will be able to promote their vaccines directly to consumers.</b></p><p>On August 16, the two companies announced that after submitting clinical trial data to the FDA, they had begun the approval process to provide booster shots to fully vaccinated people.</p><p>Separately, senior health officials from agencies such as the CDC, the White House and the FDA said in a statement Wednesday that the effectiveness of mRNA vaccines will decline over time, especially for those with impaired immune systems.</p><p>They said that the United States will begin distributing the booster vaccine to the public in September.</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>Or on Monday! Pfizer vaccine to be fully approved in the United States</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\">\nOr on Monday! Pfizer vaccine to be fully approved in the United States\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\">2021-08-22 08:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Not only can it provide protection for more people, but full approval may also be<a href=\"https://laohu8.com/S/PFE\">Pfizer</a>A big milestone for vaccines.</p><p>According to<a href=\"https://laohu8.com/S/NYT\">The New York Times</a>The U.S. Food and Drug Administration (FDA) could fully approve Pfizer's COVID-19 vaccine on Monday, \"reported, citing sources.</p><p>The final review outcome could exceed that date as paperwork and negotiations with Pfizer continue, a move that would make Pfizer's vaccine the first COVID-19 vaccine to go from emergency use authorization to full FDA approval.</p><p>On Aug. 8, Dr. Anthony Fauci, the White House's chief medical adviser, told The Associated Press that he hopes the vaccine will be fully approved within August, which will make more companies and schools mandatory for people to get vaccinated.</p><p>With the surge of new crown cases across the United States in recent weeks, major U.S. companies have become increasingly stringent on vaccinating employees. Some companies say they will use full FDA approval as part of their decision-making process.</p><p>As of Friday, data from the Centers for Disease Control and Prevention (CDC) showed that<b>More than 203 million doses of Pfizer's vaccine have been administered nationwide, effectively protecting more than 91 million people in the United States.</b></p><p>Pfizer and BioNTech began applying for biopharmaceutical licenses for vaccines in May this year after receiving emergency use authorization from the FDA in December last year.</p><p>As previously reported by CNBC, drugmakers authorized by the European Union were banned from promoting their vaccines.</p><p>But if duly authorized,<b>Pfizer and BioNTech's vaccines will remain on the market after the epidemic is over, and they will be able to promote their vaccines directly to consumers.</b></p><p>On August 16, the two companies announced that after submitting clinical trial data to the FDA, they had begun the approval process to provide booster shots to fully vaccinated people.</p><p>Separately, senior health officials from agencies such as the CDC, the White House and the FDA said in a statement Wednesday that the effectiveness of mRNA vaccines will decline over time, especially for those with impaired immune systems.</p><p>They said that the United States will begin distributing the booster vaccine to the public in September.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3638520\">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/6e474d690ea02c536f0fd4c03fc3ddef","relate_stocks":{},"source_url":"https://wallstreetcn.com/articles/3638520","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2161274943","content_text":"不仅能为更多的人提供保护，全面获批也可能是辉瑞疫苗的一大里程碑。\n据《纽约时报》援引消息人士的话报道称，美国食品和药物管理局(FDA)可能于周一全面批准辉瑞公司的新冠疫苗。\n随着文书工作和与辉瑞的谈判继续进行，最终审查结果可能会超过这一日期，此举将使辉瑞的疫苗成为首个从紧急使用授权到完全获得FDA批准的新冠疫苗。\n8月8日，白宫首席医疗顾问安东尼·福奇(Anthony Fauci)博士对美联社表示，他希望疫苗将在8月之内获得全面批准，这将使更多公司和学校强制要求人们接种疫苗。\n随着最近几周美国各地新冠病例的激增，美国各大公司对员工接种疫苗的相关规定也越来越严格。一些公司称，会将FDA的全面批准作为其决策过程的一部分。\n截至周五，美国疾病控制与预防中心（CDC）的数据显示，辉瑞的疫苗已经在全国范围内接种了超过2.03亿剂，使美国超过9100万人得到有效保护。\n辉瑞和BioNTech公司在去年12月获得FDA的紧急使用授权后，于今年5月开始申请疫苗的生物制药许可证。\n据CNBC此前报道，获得欧盟授权的制药商被禁止推广他们的疫苗。\n但如果获得正式授权，辉瑞和BioNTech的疫苗在疫情结束后仍将在市场上销售，而且能够直接向消费者宣传其疫苗。\n在8月16日，两家公司宣布，在向FDA提交临床试验数据后，他们开始了对完全接种者提供加强针的批准程序。\n另外，CDC、白宫和FDA等机构的高级卫生官员周三在一份声明中称，mRNA疫苗的有效性会随着时间的推移而下降，尤其是对那些免疫系统受损的人。\n他们表示，美国将于9月份开始向公众分发加强型的疫苗。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":588,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":838285249,"gmtCreate":1629413991981,"gmtModify":1676530030405,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"htmlText":"Hh","listText":"Hh","text":"Hh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/838285249","repostId":"1125444263","repostType":4,"repost":{"id":"1125444263","kind":"news","pubTimestamp":1629430600,"share":"https://ttm.financial/m/news/1125444263?lang=en_US&edition=fundamental","pubTime":"2021-08-20 11:36","market":"hk","language":"zh","title":"Douyin makes Meituan uncomfortable, but it's not because of heart takeout","url":"https://stock-news.laohu8.com/highlight/detail?id=1125444263","media":"新芒","summary":"发酵一个多月的抖音心动外卖，至今没有落地。\n尚在内测阶段的心动外卖，普通用户找不到服务入口。提供抖音外卖服务的商家也寥若星辰，肯德基和喜茶都是通过自身的小程序处理外卖订单。\n但这不妨碍大家对这件事的猜","content":"<p>Douyin Heartbeat Takeaway, which has been fermented for more than a month, has not yet landed.</p><p>Ordinary users cannot find the service entrance for Xindong Takeaway, which is still in the internal beta stage. There are only a few merchants providing Douyin take-out services. KFC and Heytea both process take-out orders through their own mini programs.</p><p>But this does not prevent everyone from guessing about this matter. The interpretation and analysis of byte takeout is always the most eye-catching. Tik Tok's topic about heartbeat take-out has been broadcast 380 million times. Some bloggers even package it as an outlet for ordinary people to realize wealth freedom.</p><p>Maybe we all think a little too much and exaggerate the influence of Douyin as food delivery. At least at this time, it is too early to regard Douyin Waimai as a force stirring up the market structure.</p><p>Takeaway is just a footnote of Douyin's involvement in local life services. Compared with this new business of \"only hearing the voice but not seeing the person\", it is better to pay attention to Douyin's in-store consumption first.</p><p>Judging from the internal reaction of Meituan, it is not Douyin takeout that makes them uncomfortable. It is the erosion of Douyin's in-store business on its advertising revenue.</p><p><b>01</b></p><p><b>Not getting through</b></p><p>\"I don't know, I haven't heard of it.\" Facing the store Douyin group purchase package displayed by Xinmang Daybreak, the waiters of the four restaurants all expressed their ignorance. Even if this package can be used, they can't be sure.</p><p>In a large shabu-shabu restaurant in Chaoyang District, Beijing, the background cash register system did not enter Douyin's package. That is to say, consumers can't place an order after purchasing a package. After consulting the store manager, they simply recommend us to buy it from Meituan.</p><p>This is not an isolated case. A founder of a national chain restaurant told Xinmang Daybreak that whether it is group buying or takeout, Douyin and the merchant's cash register system have not been connected, and a complete closed loop has not been achieved. Group buying is currently the experience of users going to the store with coupons for verification. The whole process is not particularly smooth.</p><p>For local life services, Douyin has made a lot of foreshadowing.</p><p>In March last year, Douyin launched the \"Douyin Group Buying\" function. Now, when you click on the Douyin location interface, the preferential group buying service has covered three sectors: catering and food, tourism and accommodation, and leisure and entertainment. This is also the whole content of local life.</p><p>One year has passed, and Douyin is not optimistic about building a merchant ecosystem for in-store business.</p><p>After our test, only 13 of the nearly 100 restaurants within one kilometer have launched Douyin group buying. Under the same location and distance, the number of merchants participating in Meituan group buying is 66. In the field of tourism and accommodation, there are still no businesses in Beijing, and the nearest hotel is in Langfang, Hebei.</p><p>We learned that despite Byte's huge traffic and brand influence, there is no shortcut to participate in the game of local life. Think about Ali. After so many years of struggling, there is no shortage of traffic or money, but he just can't take this position.</p><p>Xu Yang, the owner of a restaurant in Beijing, revealed to Xinmang Daybreak that two months ago, Douyin's land push came to the door, so they launched a group buying package. He wasn't sure if he could bring new customers. Xu Yang's attitude is, \"Douyin's group buying is just hanging, and there is currently no energy to operate it.\"</p><p>Later, some adjustments were made to the restaurant dishes, and the local push on Douyin never came again, and Xu Yang did not take the initiative to change the set menu on Douyin. As a result, the restaurant has far more group buying packages on Meituan than Douyin.</p><p>This situation is not a minority either. After comparison, we found that in a restaurant chain, Meituan has as many as 19 group buying discount categories, while Douyin has only 3 categories.</p><p>The co-founders of a restaurant chain in Guangxi contacted by Xinmang Daybreak were more straightforward, and they refused to participate in group buying activities on TikTok. The reason is simple, \"The profit of mass catering is thin, and doing more discounts, etc., is to drink and quench thirst.\"</p><p>Xu Yang revealed that Meituan's group buying commission is about 2%, while Douyin's group buying commission does not. The commission is not the key. If the group purchase is less than 30% off, you will lose money. This is also an important reason why Xu Yang is not interested in Douyin group buying.</p><p>Longyan, nearly 2,000 kilometers away from Beijing, is Zhang Yiming's hometown. Locally, people know this Longyan entrepreneur. But this regional camaraderie does not translate into commercial support.</p><p>Zhang Xuan has opened a milk tea shop in Longyan for 6 years. He told Xinmang Daybreak that in the past two months, \"Douyin people come to promote it every day, and sometimes four people can come a day.\" But he just doesn't want to do Douyin group buying.</p><p>In Zhang Xuan's view, the group purchase price is too low, basically around 50% off. If you do group buying, you can only keep you at a loss, so you can treat it as advertising. And he was already very busy and didn't want to make trouble for himself anymore. Many businesses are hanging, but they don't want to do it. \"After all, businesses are not doing charity.\"</p><p>According to him, Douyin's current local promotion is mainly aimed at group buying, and there is no movement of food delivery yet. I only heard about internal beta. Later, he added, \"This place is still the world of Meituan.\" Longyan is also Wang Xing's hometown.</p><p><b>02</b></p><p><b>Threatening Meituan?</b></p><p>Although the results of Douyin's in-store group buying promotion are not loud, there is still a tense atmosphere within Meituan. A Meituan insider said, \"I feel like I've been stabbed by Byte.\"</p><p>The most direct result of Douyin's involvement in local life is the erosion of the advertising revenue of Meituan's in-store business.</p><p>Although the above-mentioned restaurants in Guangxi did not participate in group buying, they have been doing regional grass planting on Douyin. Their principle is: \"Meituan and Douyin are the same, doing more drainage for content display, and doing less drainage for profits.\" The specific implementation strategy is: \"The brand plants grass to cover the whole city with heavy firepower, and the store plants grass within a radius of two or three kilometers.\"</p><p>As a result, with an almost fixed delivery budget every year, Douyin increases, and Meituan naturally decreases.</p><p>This logic takes its course. The demand for merchant drainage promotion has never changed. What has changed is only the bearing form.</p><p>If it is said that the era of public comment is dominated by graphic content and short videos are on the rise, Douyin, as the largest platform, will naturally carry local life services. And, both Dianping and Douyin rely on UGC's content creation model.</p><p>Douyin has planned a series of store exploration activities for talents, encouraging content creators to go to offline stores to create POI videos. After users apply to become group buying experts, they receive tasks in the background. These tasks are merchants' advertising. Shoot a punch-in video with a location to get traffic support and commission dividends.</p><p>The founders of the above-mentioned national chain restaurants also believe that Douyin's visit to the store is more logical than Daojia. \"If a closed loop can be formed, the experience of merchants and consumers will be smoother, and the future traffic plate will be larger.\"</p><p>The biggest question for Meituan insiders is whether the top management has a plan to deal with Douyin's increasing penetration of in-store business.</p><p>Since the merger of Dianping in 2015, Meituan has been going to Dianping in recent years. When Xiaohongshu first crossed borders and invaded local life, Dianping was slow to respond. When Douyin attacked on a large scale, he didn't see the action of comments. There was even news of layoffs in Dianping.</p><p>The problem is that marginalized reviews actually have very good cash flows in many businesses. Such as catering, beauty, wedding, etc. These revenues are feeding back Meituan's innovative business, while the core business food delivery has not been profitable so far. If Douyin's aggressive attack has a substantial impact on Meituan's advertising revenue, it is not a good thing.</p><p>Is this a mistake by Meituan? \"We shouldn't watch it happen. At least put on your protective suit before someone tries to stab you?\"</p><p><b>03</b></p><p><b>How determined is TikTok to do takeaway?</b></p><p>The in-store business has not yet been solid, why is Douyin eager to launch the food delivery business?</p><p>From the perspective of market size, take-out with high-frequency demand is a good business. Meituan's annual revenue in 2020 has reached 114.8 billion yuan, of which the food delivery business is strong. The annual transaction amount increased by 24.5% year-on-year, and the revenue reached 66.3 billion yuan, accounting for approximately 58% of the total revenue.</p><p>According to data from iResearch, by 2025, the domestic local life service market will grow from 19.5 trillion yuan in 2020 to 35.3 trillion yuan. Among them, the online penetration rate of life services is only 12.7%. In other words, the main competitive location of this 10,000-level market is still offline.</p><p>Such a huge market, Byte will naturally not let go. Local life is not only an integral part of Douyin's content ecology, but also increases the possibility of traffic monetization.</p><p>Later, LatePost reported that at the end of last year, the Byte Commercialization Department established a \"local direct business center\" for local life business, and about 10,000 employees were adjusted to participate in customer mining in life services, cultural tourism, catering and other industries.</p><p>The reason why the local life business is launched in Douyin is that among the three major traffic sectors of Douyin-local traffic, attention traffic and traffic recommendation, the utilization rate of local traffic is the least, and it is most compatible with the local life business, so the monetization efficiency will be very high.</p><p>The point of view of more than one catering merchant is that the reason why Douyin is involved in local life is to maximize traffic monetization.</p><p>They are generally optimistic about Douyin's store-to-store drainage business. But it is not so positive about the noisy \"heartbeat take-out\".</p><p>Internet analyst Tang Xin said that he was not optimistic about Douyin's take-out. \"Because food delivery is a relatively purposeful demand scenario, and Douyin is more mining the non-purposeful needs of users. Even if Byte can make up for this difference through algorithms and traffic subsidies, it will take a long time to carry out Layout promotion.\"</p><p>He also added, \"The most difficult thing about this matter is not to find demand, but to build a merchant ecosystem. This requires a large number of local push teams, which Byte does not currently have.\"</p><p>A Meituan take-out employee reported that there was no special atmosphere inside.</p><p>In his view, the core moat of take-out lies in two aspects: commodity supply and logistics distribution.</p><p>When users come to you to order takeout, there must always be something to choose from. The number of newly signed merchants is still an important indicator of Meituan Takeout's BD assessment. Before the antitrust investigation, Meituan demanded exclusive rights for some merchants. Logistics Meituan has express delivery and special delivery, and the army of millions of riders is the result of their years of construction. One reference is that Meituan's expenditure in 2020 will reach 48.69 billion yuan in terms of rider costs alone.</p><p>Meituan is also beware of Ele.me's counterattack. Therefore, every summer and winter, we train troops to keep the team alert by means of campaign exercises. Pay special attention to national catering chain brands and regional brand resources to ensure that they are not lost.</p><p>Based on this, they don't think that Xindong Takeaway will have a huge impact on the industry structure in a short period of time.</p><p>The fact is, a common perception of several catering leaders we contacted is that Douyin's understanding of the catering industry needs to be deepened.</p><p>Xindong Takeaway is currently in the internal testing stage, and brands such as Heytea and KFC can achieve delivery. Similar to the situation of group buying, there is no connection with the cash register system of the merchant, the category of take-out is limited, and it is still a group buying package. No matter the type selection or the delivery time, there is no way to guarantee it.</p><p>But in any case, no one can ignore TikTok's attack on local life.</p><p>At this time, Byte is more like Tencent before 2010. It has national-level applications, has no shortage of traffic or money, and has never given up its new business growth curve. This is also the reason why Byte has been attacking everywhere in education, games, consumption and other fields in the past two years. Most importantly, it is often the adversary who is threatened.</p><p>In March this year, the ninth anniversary of the establishment of Byte, Zhang Yiming once called competitors the best blue army in an internal speech. He reminds teams to neither avoid competition nor compete for the sake of competition, and if the mindset is unbalanced, some real opportunities will be missed.</p><p>Bytes are looking at themselves and comparing others.</p><p>(Xu Yang and Zhang Xuan are pseudonyms in the text)</p>","source":"lsy1584686584163","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>Douyin makes Meituan uncomfortable, but it's not because of heart takeout</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\">\nDouyin makes Meituan uncomfortable, but it's not because of heart takeout\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新芒</strong><span class=\"h-time small\">2021-08-20 11:36</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Douyin Heartbeat Takeaway, which has been fermented for more than a month, has not yet landed.</p><p>Ordinary users cannot find the service entrance for Xindong Takeaway, which is still in the internal beta stage. There are only a few merchants providing Douyin take-out services. KFC and Heytea both process take-out orders through their own mini programs.</p><p>But this does not prevent everyone from guessing about this matter. The interpretation and analysis of byte takeout is always the most eye-catching. Tik Tok's topic about heartbeat take-out has been broadcast 380 million times. Some bloggers even package it as an outlet for ordinary people to realize wealth freedom.</p><p>Maybe we all think a little too much and exaggerate the influence of Douyin as food delivery. At least at this time, it is too early to regard Douyin Waimai as a force stirring up the market structure.</p><p>Takeaway is just a footnote of Douyin's involvement in local life services. Compared with this new business of \"only hearing the voice but not seeing the person\", it is better to pay attention to Douyin's in-store consumption first.</p><p>Judging from the internal reaction of Meituan, it is not Douyin takeout that makes them uncomfortable. It is the erosion of Douyin's in-store business on its advertising revenue.</p><p><b>01</b></p><p><b>Not getting through</b></p><p>\"I don't know, I haven't heard of it.\" Facing the store Douyin group purchase package displayed by Xinmang Daybreak, the waiters of the four restaurants all expressed their ignorance. Even if this package can be used, they can't be sure.</p><p>In a large shabu-shabu restaurant in Chaoyang District, Beijing, the background cash register system did not enter Douyin's package. That is to say, consumers can't place an order after purchasing a package. After consulting the store manager, they simply recommend us to buy it from Meituan.</p><p>This is not an isolated case. A founder of a national chain restaurant told Xinmang Daybreak that whether it is group buying or takeout, Douyin and the merchant's cash register system have not been connected, and a complete closed loop has not been achieved. Group buying is currently the experience of users going to the store with coupons for verification. The whole process is not particularly smooth.</p><p>For local life services, Douyin has made a lot of foreshadowing.</p><p>In March last year, Douyin launched the \"Douyin Group Buying\" function. Now, when you click on the Douyin location interface, the preferential group buying service has covered three sectors: catering and food, tourism and accommodation, and leisure and entertainment. This is also the whole content of local life.</p><p>One year has passed, and Douyin is not optimistic about building a merchant ecosystem for in-store business.</p><p>After our test, only 13 of the nearly 100 restaurants within one kilometer have launched Douyin group buying. Under the same location and distance, the number of merchants participating in Meituan group buying is 66. In the field of tourism and accommodation, there are still no businesses in Beijing, and the nearest hotel is in Langfang, Hebei.</p><p>We learned that despite Byte's huge traffic and brand influence, there is no shortcut to participate in the game of local life. Think about Ali. After so many years of struggling, there is no shortage of traffic or money, but he just can't take this position.</p><p>Xu Yang, the owner of a restaurant in Beijing, revealed to Xinmang Daybreak that two months ago, Douyin's land push came to the door, so they launched a group buying package. He wasn't sure if he could bring new customers. Xu Yang's attitude is, \"Douyin's group buying is just hanging, and there is currently no energy to operate it.\"</p><p>Later, some adjustments were made to the restaurant dishes, and the local push on Douyin never came again, and Xu Yang did not take the initiative to change the set menu on Douyin. As a result, the restaurant has far more group buying packages on Meituan than Douyin.</p><p>This situation is not a minority either. After comparison, we found that in a restaurant chain, Meituan has as many as 19 group buying discount categories, while Douyin has only 3 categories.</p><p>The co-founders of a restaurant chain in Guangxi contacted by Xinmang Daybreak were more straightforward, and they refused to participate in group buying activities on TikTok. The reason is simple, \"The profit of mass catering is thin, and doing more discounts, etc., is to drink and quench thirst.\"</p><p>Xu Yang revealed that Meituan's group buying commission is about 2%, while Douyin's group buying commission does not. The commission is not the key. If the group purchase is less than 30% off, you will lose money. This is also an important reason why Xu Yang is not interested in Douyin group buying.</p><p>Longyan, nearly 2,000 kilometers away from Beijing, is Zhang Yiming's hometown. Locally, people know this Longyan entrepreneur. But this regional camaraderie does not translate into commercial support.</p><p>Zhang Xuan has opened a milk tea shop in Longyan for 6 years. He told Xinmang Daybreak that in the past two months, \"Douyin people come to promote it every day, and sometimes four people can come a day.\" But he just doesn't want to do Douyin group buying.</p><p>In Zhang Xuan's view, the group purchase price is too low, basically around 50% off. If you do group buying, you can only keep you at a loss, so you can treat it as advertising. And he was already very busy and didn't want to make trouble for himself anymore. Many businesses are hanging, but they don't want to do it. \"After all, businesses are not doing charity.\"</p><p>According to him, Douyin's current local promotion is mainly aimed at group buying, and there is no movement of food delivery yet. I only heard about internal beta. Later, he added, \"This place is still the world of Meituan.\" Longyan is also Wang Xing's hometown.</p><p><b>02</b></p><p><b>Threatening Meituan?</b></p><p>Although the results of Douyin's in-store group buying promotion are not loud, there is still a tense atmosphere within Meituan. A Meituan insider said, \"I feel like I've been stabbed by Byte.\"</p><p>The most direct result of Douyin's involvement in local life is the erosion of the advertising revenue of Meituan's in-store business.</p><p>Although the above-mentioned restaurants in Guangxi did not participate in group buying, they have been doing regional grass planting on Douyin. Their principle is: \"Meituan and Douyin are the same, doing more drainage for content display, and doing less drainage for profits.\" The specific implementation strategy is: \"The brand plants grass to cover the whole city with heavy firepower, and the store plants grass within a radius of two or three kilometers.\"</p><p>As a result, with an almost fixed delivery budget every year, Douyin increases, and Meituan naturally decreases.</p><p>This logic takes its course. The demand for merchant drainage promotion has never changed. What has changed is only the bearing form.</p><p>If it is said that the era of public comment is dominated by graphic content and short videos are on the rise, Douyin, as the largest platform, will naturally carry local life services. And, both Dianping and Douyin rely on UGC's content creation model.</p><p>Douyin has planned a series of store exploration activities for talents, encouraging content creators to go to offline stores to create POI videos. After users apply to become group buying experts, they receive tasks in the background. These tasks are merchants' advertising. Shoot a punch-in video with a location to get traffic support and commission dividends.</p><p>The founders of the above-mentioned national chain restaurants also believe that Douyin's visit to the store is more logical than Daojia. \"If a closed loop can be formed, the experience of merchants and consumers will be smoother, and the future traffic plate will be larger.\"</p><p>The biggest question for Meituan insiders is whether the top management has a plan to deal with Douyin's increasing penetration of in-store business.</p><p>Since the merger of Dianping in 2015, Meituan has been going to Dianping in recent years. When Xiaohongshu first crossed borders and invaded local life, Dianping was slow to respond. When Douyin attacked on a large scale, he didn't see the action of comments. There was even news of layoffs in Dianping.</p><p>The problem is that marginalized reviews actually have very good cash flows in many businesses. Such as catering, beauty, wedding, etc. These revenues are feeding back Meituan's innovative business, while the core business food delivery has not been profitable so far. If Douyin's aggressive attack has a substantial impact on Meituan's advertising revenue, it is not a good thing.</p><p>Is this a mistake by Meituan? \"We shouldn't watch it happen. At least put on your protective suit before someone tries to stab you?\"</p><p><b>03</b></p><p><b>How determined is TikTok to do takeaway?</b></p><p>The in-store business has not yet been solid, why is Douyin eager to launch the food delivery business?</p><p>From the perspective of market size, take-out with high-frequency demand is a good business. Meituan's annual revenue in 2020 has reached 114.8 billion yuan, of which the food delivery business is strong. The annual transaction amount increased by 24.5% year-on-year, and the revenue reached 66.3 billion yuan, accounting for approximately 58% of the total revenue.</p><p>According to data from iResearch, by 2025, the domestic local life service market will grow from 19.5 trillion yuan in 2020 to 35.3 trillion yuan. Among them, the online penetration rate of life services is only 12.7%. In other words, the main competitive location of this 10,000-level market is still offline.</p><p>Such a huge market, Byte will naturally not let go. Local life is not only an integral part of Douyin's content ecology, but also increases the possibility of traffic monetization.</p><p>Later, LatePost reported that at the end of last year, the Byte Commercialization Department established a \"local direct business center\" for local life business, and about 10,000 employees were adjusted to participate in customer mining in life services, cultural tourism, catering and other industries.</p><p>The reason why the local life business is launched in Douyin is that among the three major traffic sectors of Douyin-local traffic, attention traffic and traffic recommendation, the utilization rate of local traffic is the least, and it is most compatible with the local life business, so the monetization efficiency will be very high.</p><p>The point of view of more than one catering merchant is that the reason why Douyin is involved in local life is to maximize traffic monetization.</p><p>They are generally optimistic about Douyin's store-to-store drainage business. But it is not so positive about the noisy \"heartbeat take-out\".</p><p>Internet analyst Tang Xin said that he was not optimistic about Douyin's take-out. \"Because food delivery is a relatively purposeful demand scenario, and Douyin is more mining the non-purposeful needs of users. Even if Byte can make up for this difference through algorithms and traffic subsidies, it will take a long time to carry out Layout promotion.\"</p><p>He also added, \"The most difficult thing about this matter is not to find demand, but to build a merchant ecosystem. This requires a large number of local push teams, which Byte does not currently have.\"</p><p>A Meituan take-out employee reported that there was no special atmosphere inside.</p><p>In his view, the core moat of take-out lies in two aspects: commodity supply and logistics distribution.</p><p>When users come to you to order takeout, there must always be something to choose from. The number of newly signed merchants is still an important indicator of Meituan Takeout's BD assessment. Before the antitrust investigation, Meituan demanded exclusive rights for some merchants. Logistics Meituan has express delivery and special delivery, and the army of millions of riders is the result of their years of construction. One reference is that Meituan's expenditure in 2020 will reach 48.69 billion yuan in terms of rider costs alone.</p><p>Meituan is also beware of Ele.me's counterattack. Therefore, every summer and winter, we train troops to keep the team alert by means of campaign exercises. Pay special attention to national catering chain brands and regional brand resources to ensure that they are not lost.</p><p>Based on this, they don't think that Xindong Takeaway will have a huge impact on the industry structure in a short period of time.</p><p>The fact is, a common perception of several catering leaders we contacted is that Douyin's understanding of the catering industry needs to be deepened.</p><p>Xindong Takeaway is currently in the internal testing stage, and brands such as Heytea and KFC can achieve delivery. Similar to the situation of group buying, there is no connection with the cash register system of the merchant, the category of take-out is limited, and it is still a group buying package. No matter the type selection or the delivery time, there is no way to guarantee it.</p><p>But in any case, no one can ignore TikTok's attack on local life.</p><p>At this time, Byte is more like Tencent before 2010. It has national-level applications, has no shortage of traffic or money, and has never given up its new business growth curve. This is also the reason why Byte has been attacking everywhere in education, games, consumption and other fields in the past two years. Most importantly, it is often the adversary who is threatened.</p><p>In March this year, the ninth anniversary of the establishment of Byte, Zhang Yiming once called competitors the best blue army in an internal speech. He reminds teams to neither avoid competition nor compete for the sake of competition, and if the mindset is unbalanced, some real opportunities will be missed.</p><p>Bytes are looking at themselves and comparing others.</p><p>(Xu Yang and Zhang Xuan are pseudonyms in the text)</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://finance.sina.com.cn/tech/csj/2021-08-19/doc-ikqciyzm2460553.shtml\">新芒</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/fed0ca34194450e796708c8740dfdf19","relate_stocks":{"03690":"美团-W"},"source_url":"http://finance.sina.com.cn/tech/csj/2021-08-19/doc-ikqciyzm2460553.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125444263","content_text":"发酵一个多月的抖音心动外卖，至今没有落地。\n尚在内测阶段的心动外卖，普通用户找不到服务入口。提供抖音外卖服务的商家也寥若星辰，肯德基和喜茶都是通过自身的小程序处理外卖订单。\n但这不妨碍大家对这件事的猜想。针对字节做外卖的解读和分析，总是最吸引眼球。抖音关于「心动外卖」的话题播放量已达3.8亿次。甚至有博主将其包装为普通人实现财富自由的一个风口。\n或许我们都想得有点多，也夸大了抖音做外卖的影响力。至少此时，将抖音外卖视作搅动市场格局的一股力量，为时尚早。\n外卖只是抖音涉足本地生活服务的一个注脚。相比这个“只闻其声不见其人”的新业务，不如先关注抖音的到店消费。\n从美团内部的反应来看，让他们难受的不是抖音外卖。而是抖音到店业务对其广告收入的蚕食。\n01\n没有打通\n“不清楚，没有听说。”面对「新芒Daybreak」展示的门店抖音团购套餐，4家餐厅的服务员都表示不了解。甚至这个套餐能不能用，他们也不能确定。\n北京朝阳区的一家大型涮肉店，后台收银系统并没有录入抖音的套餐。也就是说消费者购买套餐之后是无法下单的，咨询店长之后，他们干脆推荐我们从美团上购买。\n这不是孤例。一位全国连锁餐饮店创始人告诉「新芒Daybreak」，不论团购还是外卖，抖音和商家的收银系统没有打通，没有实现完整意义上的闭环，团购目前就是用户持优惠券到店核销的体验，整个流程并不是特别顺畅。\n本地生活服务，抖音已经做了不少铺垫。\n去年3月，抖音就曾上线“抖音团购”功能，如今点开抖音位置界面，优惠团购服务已经覆盖餐饮美食、旅游住宿、休闲娱乐三个板块，这也是本地生活的全部内容。\n一年时间过去，抖音在到店业务商家生态的搭建，并不乐观。\n经过我们的测试，一公里范围内接近百家数量的餐饮店，只有13个上线了抖音团购，同等位置和距离下，参与美团团购的商家数量为66家。旅游住宿领域，北京目前仍没有商家入驻，距离最近的一家酒店在河北廊坊市。\n我们了解到，尽管字节有着巨大的流量和品牌影响力，但想参与本地生活的游戏，没有捷径。想想阿里吧，死磕这么多年，不缺流量不缺钱就是拿不下这块阵地。\n一家北京的餐饮店老板徐阳向「新芒Daybreak」透露，两个月前，抖音的地推找上门，于是他们上线了团购套餐。能不能带来新客，他也没把握。徐阳的态度是，“抖音的团购只是挂着，目前也没有精力运营。”\n后来餐馆菜品做了一些调整，抖音那边的地推再也没来，徐阳也没有主动更改抖音上的套餐。结果是，这家餐馆在美团的团购套餐数量远多于抖音。\n这种情况也不是少数。我们对比之后发现，一家餐饮连锁店，美团的团购优惠品类多达19种，抖音则只有3种。\n「新芒Daybreak」联系到的广西一家连锁餐厅的联合创始人更直截了当，他们拒绝参与抖音的团购活动。原因简单，“大众餐饮利润就薄，折扣等做多，就是饮鸩止渴。”\n徐阳透露，美团的团购抽成大约是2%，抖音团购没有抽成。抽成不是关键，团购低于7折就会赔钱。这也是徐阳对抖音团购不上心的一个重要原因。\n距离北京近2000公里的龙岩，张一鸣的老家。当地，人们都知道这位龙岩籍企业家。但这种地域情谊并不能转化为商业上的支持。\n张轩在龙岩开了6年的奶茶店，他告诉「新芒Daybreak」，近两个月来，“每天都有抖音的人上门推广，多的时候一天能来4个人。”但他就是不愿意做抖音团购。\n在张轩看来，团购价格压得太低，基本在5折左右。做团购只能保持不亏，就当打打广告了。而他本来就很忙，不愿意再给自己找麻烦。很多商家也就是挂着，但并不想做，“毕竟商家不是做慈善的。”\n据他介绍，抖音目前的地推主要针对团购，外卖还没有动静，只听说在内测。随后，他补了一句，“这里依然是美团的天下。”龙岩也是王兴的老家。\n02\n威胁美团？\n尽管抖音到店团购推进结果不算大鸣大放，但在美团内部依然笼罩着一种紧张的气氛。一位美团内部人士说，“有种被字节捅了一刀的感觉”。\n抖音涉足本地生活，最直接的结果是，对美团到店业务广告收入的蚕食。\n上述广西的餐饮店，虽然没有参与团购，但一直在抖音做区域种草投放。他们的原则是：“美团和抖音都一样，更多做内容展示的引流，少做折损利润的引流。”具体执行策略是：“品牌种草全城重火力覆盖，店面种草方圆两三公里辐射。”\n结果是，每年差不多固定的投放预算，抖音增加，美团自然就减少。\n这个逻辑是顺其自然的。商家引流推广的需求，从未改变。变化的只是承载形式。\n如果说，大众点评时代是以图文内容为主，短视频兴起，抖音作为最大平台自然也会承载本地生活服务。以及，不论是点评还是抖音，都依赖UGC的内容创作模式。\n抖音大手笔策划系列达人探店活动，鼓励内容创造者去线下店创造POI视频，用户申请成为团购带货达人后，在后台领任务，这些任务即商家的广告投放。拍摄带有地点的打卡视频，即可获得流量支持和佣金分红。\n上述全国连锁餐饮店创始人也认为，相比到家，抖音的到店更顺理成章。“如果能够形成闭环，商家和消费者的体验都会更顺畅一些，未来的流量盘子也会更大。”\n美团内部人士最大的疑问是，针对抖音对到店业务的日渐渗透，高层是否有预案应对。\n自2015年合并点评后，美团这几年都在去点评化。在小红书最先跨界侵入本地生活的时候，点评反应迟钝。抖音大举进攻时，也没有看到点评的动作。甚至点评一度传出裁员的消息。\n问题是，被边缘化的点评实际不少业务的现金流都非常好。比如餐饮、丽人、婚庆等。这些收入都在反哺美团的创新业务，而核心业务外卖至今没有盈利。假如抖音的大举进攻对美团的广告收入产生实质性影响，不是件好事。\n这算不算美团的失误？“我们不应该眼睁睁看着它发生。至少在别人试图捅你一刀之前，你先穿上护身衣吧？”\n03\n抖音有多大决心做外卖？\n到店业务还没做扎实，抖音为何急于展开外卖业务？\n从市场规模上来看，高频需求的外卖是一门好生意。美团2020年全年营收已达1148亿元，其中，餐饮外卖业务强劲，全年交易金额同比增长24.5%，营收达663亿元，约占总营收的58%。\n艾瑞咨询的数据显示，到2025年，国内本地生活服务市场规模将从2020年的19.5万亿元增长至35.3万亿元。其中，生活服务的线上渗透率仅为12.7%。也就是说，这个万级市场的主要竞争地点还是线下。\n这么巨大的市场，字节自然不会放过。本地生活既是抖音内容生态的组成部分，又能增加流量变现的可能性。\n晚点 LatePost报道，去年年底，字节商业化部成立面向本地生活业务的“本地直营业务中心”，约一万名员工被调整参与生活服务、文化旅游和餐饮等行业进行客户挖掘。\n之所以在抖音展开本地生活业务，因为在抖音的三大流量板块——本地流量、关注流量与流量推荐中，本地流量的利用率最少，且与本地生活业务最为契合，因此变现效率会很高。\n不止一位餐饮商家的观点是，抖音之所以涉水本地生活，就是想最大化的流量变现。\n对抖音到店引流业务，他们普遍持乐观心态。但对吵得沸沸扬扬的“心动外卖”则不是那么积极。\n互联网分析师唐欣表示，自己并不看好抖音做外卖。“因为外卖是一个目的性比较强的需求场景，而抖音更多在挖掘用户的非目的性需求。即使字节通过算法和流量补贴，可以弥补这种差异性，也需要较长的时间进行布局推广。”\n他还补充道，“这个事情最难的不是找需求，而是构建商家生态。这需要大量的地推团队，而字节目前不太具备。”\n一位美团外卖员工则反馈，内部没有感知到特别的气氛。\n在他看来，外卖的核心护城河在两个方面：商品供给和物流配送。\n用户来你这里点外卖，总要有东西可选。新签商家数量依然是美团外卖对BD考核的重要指标。在反垄断调查之前，美团对部分商家要求独家权益。物流美团有快送和专送，几百万骑手大军是他们多年建设的结果。一个参照是，仅骑手成本这一项，美团2020年的支出就达486.9亿元。\n美团也在谨防饿了么反攻。所以每年夏季冬季大练兵，以战役演习的方式保持团队警醒。尤其重视全国餐饮连锁品牌和区域品牌资源，保证不丢失。\n基于此，他们并不认为心动外卖会在短时间内对行业格局产生巨大冲击。\n事实是，我们接触的几位餐饮负责人一个共同的感知是，抖音对餐饮行业的理解，还有待更深入。\n心动外卖目前处于内测阶段，喜茶、肯德基等品牌可以实现外送。跟团购的情况类似，没有与商家的收银系统打通，外卖的品类有限，还是团购套餐。不论是种类选择，还是配送时间，都没办法保证。\n但无论如何，没有人能忽略抖音对本地生活的进攻。\n此时的字节更像是2010年前的腾讯，坐拥国民级应用，不缺流量、不缺钱，始终没有放弃新的业务增长曲线。这也是字节近两年在教育、游戏、消费等领域四处出击的原因。最重要的是，受到威胁的往往是对手。\n今年3月，字节成立九周年，张一鸣在内部讲话时曾称竞争对手是最好的蓝军。他提醒团队既不要逃避竞争，也不要为了竞争而竞争，如果心态不平衡，就会错过一些真正的机会。\n字节在审视自身，也在对照他人。\n（文中徐阳、张轩为化名）","news_type":1,"symbols_score_info":{"03690":0.9}},"isVote":1,"tweetType":1,"viewCount":594,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":893517081,"gmtCreate":1628287157843,"gmtModify":1703504450541,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/893517081","repostId":"1109654183","repostType":4,"repost":{"id":"1109654183","kind":"news","pubTimestamp":1628258568,"share":"https://ttm.financial/m/news/1109654183?lang=en_US&edition=fundamental","pubTime":"2021-08-06 22:02","market":"us","language":"zh","title":"Ali's financial report is actually very valuable","url":"https://stock-news.laohu8.com/highlight/detail?id=1109654183","media":"雷锋网","summary":"阿里的“低迷”和“失速”，其实并不成立。当前的增速于它而言，已经是大象起舞了。","content":"<p>Author | Hu Zhe</p><p>Ali's \"downturn\" and \"stall\" are actually not valid. As far as it is concerned, the current growth rate is already an elephant dance.</p><p>Ali has issued a financial report, which is the first financial report after the recent turmoil in the Internet industry. Although many indicators in the financial report do not look beautiful, Ali's financial report itself is undoubtedly one of the best windows to observe the development of the industry.</p><p><b>How to settle accounts</b></p><p>On August 3, Alibaba produced a financial report with shrinking profits. While achieving operating income of 205.74 billion yuan, a year-on-year increase of 33.8%, its net profit was 42.835 billion yuan, a year-on-year decrease of 7.76%.</p><p>Of course, some people have calculated an account. If the related parts of Sun Art Retail are excluded from the total revenue of 205.74 billion yuan, then the revenue of 187.306 billion yuan will have a compound annual growth rate of about 27.66% compared with the same period in 2019. Double-digit growth is not a bad report card for a company of the size of Ali.</p><p>This quarter, Ali's board of directors also authorized an increase in the total share repurchase program from US $10 billion to US $15 billion, and repurchased approximately 18.1 million American depositary shares (approximately 144.5 million common shares) for approximately US $3.680 billion. This is the largest repurchase in Ali's history.</p><p>Some people even concluded that this is the largest repurchase in the history of Chinese companies so far.</p><p>Whether it is to reflect the confidence of the management or to save the market, this repurchase requires real money, and from the effect point of view, this money is not wasted.</p><p>Ali's financial report is difficult to read. The difficulty is that Ali's business is complex and there is no frame of reference.</p><p>Companies such as Pinduoduo and Meituan may surpass Alibaba in a certain single point indicator, but because of the huge difference in comprehensiveness, the comparability is not very strong. At most, they can be compared in a single track.</p><p>If you have to compare, you can only compare Ali with Tencent. Although Tencent has not yet announced its financial report for this quarter, the average compound annual growth rate of Tencent from q1 in 2019 to q1 in 2021 is 25.82%, which is quite close to Ali's 27.66% that we calculated earlier, so overall, It is not true to say that Ali is in a \"comprehensive downturn\" and \"stall\". For Ali, this growth rate is already an \"elephant dance\".</p><p><img src=\"https://static.tigerbbs.com/b65fc9253ff1832672bfe44b6f45848b\" tg-width=\"550\" tg-height=\"486\" referrerpolicy=\"no-referrer\"></p><p>Generally speaking, multi-point efforts have achieved good results. From the perspective of Ali's total market, the revenue of \"core business\" composed of Taobao, new retail, rookie, local life, cross-border wholesale and retail accounts for 87%, cloud computing, DME, etc. have also contributed. Business is still Ali's basic market, and the layout of basic market but multi-engine development has achieved initial results.</p><p><b>User growth</b></p><p>As China's e-commerce industry matures, the scale growth of active consumers will inevitably slow down. But Ali still handed over a good answer-as of the end of June 2021, the global annual active consumers of Alibaba Ecosystem reached 1.18 billion, an increase of 45 million from the previous quarter.</p><p>Of these 1.18 billion consumers, 912 million come from the Chinese market, including both online consumers on Chinese retail platforms and consumers who buy goods and services on platforms such as life services, digital media and entertainment. Lazada, AliExpress, Trendyol and Daraz serve 265 million overseas consumers.</p><p><img src=\"https://static.tigerbbs.com/884ac37ec9766390481e7cac1c541672\" tg-width=\"351\" tg-height=\"630\" referrerpolicy=\"no-referrer\"></p><p>In the face of Pinduoduo's aggressiveness, Alibaba offered Taote tit-for-tat. Previously, many people were not optimistic about Taote, believing that Taobao could not copy Pinduoduo's low-priced genes, and if it was copied, it meant that Taote was unprofitable. But it turns out that Taote's supply logic is indeed different from Pinduoduo's, with stronger momentum and stamina. Taote's annual active consumers have grown to more than 190 million, which has reached 23% of Pinduoduo in terms of scale alone. Considering that Taote has only been established for more than a year, the speed of this rise is not unpleasant.</p><p>In terms of user growth rate, Taote's new active consumers in a single quarter reached 40 million, which has exceeded Pinduoduo's 35.4 million. This is the first time that Taobao has suppressed Pinduoduo, who is rapidly advancing, in the growth rate of a single track.</p><p>In 2019, Ali urgently needed a product that could be played to open up the situation in the sinking market, and Taote decisively seized this opportunity. Taote and 1688 both belong to the B-series business group. Ali has maximized its ability to integrate B-end and C-end businesses, allowing the \"factory direct supply\" model to meet the consumer needs of sinking markets while ensuring quality and user experience. In 2019, Taote's business grew rapidly, with the number of annual active buyers rising to 100 million by the end of the year. The latest data is more than 190 million, a 200% growth twice in two years.</p><p>Another thing that everyone pays less attention to is actually the idle fish business, which is actually a billion-level module. Xianyu focuses on second-hand consumption and offers a variety of idle, recycled, refurbished, rental and retro products. According to the data disclosed in the financial report, at the end of the second quarter of this year, Xianyu's mobile monthly active users also exceeded 100 million, becoming a very active emerging sector of Ali's e-commerce.</p><p>The history of idle fish can be traced back to the second half of 2013.</p><p>The prototype solution of the product is called \"fun exchange\". However, after the product model deduction is completed, it is not considered what business this product model should carry. Xiaoyaozi pointed out that Ali has too many e-commerce businesses, and \"interesting exchange\" can try the community model.</p><p>So after three months, the team finally made a simple second-hand trading platform named \"Idle Fish\". In June 2014, Idle Fish was officially launched.</p><p>In March 2016, the Xianyu Community Convention was promulgated as a code of conduct for buyers and sellers. Then, the Xianyu Small Court was established, with high-credit users serving as reviewers, handling thousands of disputes every day. These are all means to deal with forum disputes. In August, Xianyu launched \"Xianyu\". In addition to requiring real-name authentication, Xianyu is also presented in the form of personal homepage. Users can pay attention to each other, similar to the personal homepage of Post Bar... It can be said that the community has been played to the extreme.</p><p>It is also worth mentioning the interaction between Xianyu and Taobao. Previously, Taobao live broadcast could be synchronized with Xianyu live broadcast, and each live broadcast could obtain traffic on Weibo, Taobao and Xianyu platforms at the same time. Taobao and Tmall will introduce the scenario of recycling idle resources in their business, and Xianyu will provide trade-in services for Taobao and Tmall users in an all-round way; Alipay and Sesame Credit will provide more in-depth credit and payment financial services for Idle Fish. Idle Fish will develop Alipay applets, provide idle resource recycling services for Alipay users, and carry out business integration in the field of rental and leasing.</p><p><img src=\"https://static.tigerbbs.com/67dea968778659cfc8a57a0eabf82c76\" tg-width=\"550\" tg-height=\"275\" referrerpolicy=\"no-referrer\"></p><p>Ali has hatched countless projects with internal resources, but Xianyu has seized the opportunity to be watered every time. More importantly, in the view of Zuolin Youli Channel, Xianyu is a business that truly respects the logic of the community and develops. Instead of a pseudo-community called community but actually e-commerce, this is consistent with Xiaoyaozi's original intention. If Xianyu is given e-commerce KPIs too early, Xianyu may have died.</p><p>Now, Xianyu is a platform for young people to gather, with post-95 users accounting for more than 35%. With the two trump cards of \"young people\" and \"second-hand trading\", Xianyu has entered the trend market again. Not long ago, Xianyu launched the \"Xianyu Chaoshe\" section. In addition to integrating the sales information of second-hand trendy products, it also provided services such as trendy shoe recycling, professional appraisal, washing and maintenance, etc. to standardize second-hand transactions. In addition, Xianyu also launched the \"Tide Gravity\" program, inviting relevant people, buyers and enthusiasts in the fashion industry to settle in. These actions have improved the user stickiness of Ali e-commerce and strengthened Ali's attractiveness to young users. Some people even say that for young people, Xianyu is the next station B. Many of the lifestyles posted by the Up owners of station B are related to the things found on Xianyu.</p><p>In addition to Taote and Xianyu as two outstanding highlights, it is worth looking forward to the mutual openness of Ali and Tencent systems. Some people may understand that this is the result of regulatory forcing. But in fact, the core businesses of the two major systems, namely Tencent's social networking and Ali's e-commerce, have achieved the ultimate, and they have fully attracted users in places where their own businesses can serve. In this case, although there are definitely many places to guard against each other, after all, it means breaking the ice between the Internet economies of China's two billion-level user systems, which is really worth looking forward to.</p><p><b>Under pressure</b></p><p>In a sense, both Taote business and Xianyu business belong to Ali's defensive businesses. The former is to defend against Pinduoduo's sharp attack in the sinking market and prevent this business with a lot of room for increment from being completely occupied by Pinduoduo. The latter is to tap Ali's traffic potential and maintain stickiness to young people, which is equivalent to reserving increments for the future.</p><p>The two completely different battlefields of local life and community group buying are the offensive businesses that Ali wants to launch.</p><p>In terms of local life services, Ali's revenue this quarter increased by 23% year-on-year to 8.757 billion yuan. During this quarter, Ele.me's order volume increased by more than 50% year-on-year.</p><p>However, despite maintaining a 50% increase, the gap between Ele.me and Meituan still exists.. Judging from the data of the previous fiscal quarter, Meituan's total revenue reached 37 billion yuan, of which food delivery revenue was 20.58 billion yuan, which is equivalent to the volume of 2-3 Ele.me. Moreover, except for the quarters affected by the epidemic, Meituan's year-on-year growth rate exceeded 35%. Due to its large base, the actual increase is much larger than that of Ele.me.</p><p>Therefore, at the beginning of July this year, Alibaba announced the upgrade of its organizational structure. The three major businesses of geographical location services, namely AutoNavi, Local Life and Fliggy, will form a life service sector, which is considered by the outside world to be the main battlefield for Ali against Meituan.</p><p>We have summarized many problems in Ali's local life. Our conclusion is that the core problem is not that Ali does not have enough resources. For such a business, upgrading to the life service sector shows Ali's determination.</p><p>Although community e-commerce is a supplement to Ali, the high sinking ability of the community e-commerce model and the mutual complementarity with the high-cost, high-fighting Hema are Ali's complete layout in the entire pan-fresh market, so Although Ali did not move early in the community e-commerce business, its strategic priority is not low.</p><p>On March 1 this year, Alibaba officially established the MMC business group. Insiders jokingly called it \"buy and buy vegetables\". It mainly focuses on the community e-commerce business, integrates the community group buying business of Retail Link and the Hema market business, and then the entire MBC The sector coordinates the Class B business group and the Hema business group, and also takes into account the agriculture-related business of Ali Group. This is not unrelated to the fact that a large part of the essence of community e-commerce is the upward movement of agricultural products, and Pinduoduo's core advantage is the upward movement of agricultural products. Therefore, MMC and Pinduoduo still have an agricultural battlefield, and Pinduoduo has certain advantages. It remains to be seen how MMC will break the situation.</p><p>It is said that the biggest feature of an enterprise like Ali is its deep foundation. Although it has failed in many tracks in recent years, such as entertainment and local life, it can still free up its hands to open up new tracks, and it can still line up on the above-mentioned front. The formation of reserve cadres like Yu Yongfu, Dai Shan and even Yang Lei really shows the foundation of \"old money\". As long as Ali still has a heart to pursue growth, talent is by no means a problem.</p><p><b>end</b></p><p>Some people may ask why not talk about Alibaba's cloud business. After all, this toB business is one of Alibaba's biggest and latest achievements. Although there have been some ups and downs due to the loss of Byte's overseas cloud business, Alibaba's share of the global cloud computing market is still very stable, and after the integration of cloud and nail, Alibaba will also have great achievements in the SaaS market. It is only a matter of time before Alibaba Cloud goes public, but now is by no means the best time window.</p><p>In this financial report, Ali's cross-border retail Q1 revenue was 10.8 billion yuan, a year-on-year increase of 54%. Driven by this, Cainiao's logistics service also performed well, with revenue of 11.6 billion yuan, a year-on-year increase of more than 50%. A very important point to watch.</p><p>Lei Feng.com believes that Alibaba Cloud and Cainiao are just the mirror images of Ali's basic capacity building, one virtual and one real, and they already have the ability to cross the virtual and real world and become the bottom of Ali's entire ecosystem. In addition to the endless scope of cloud computing, Cainiao Network has 89 cross-border logistics partners, and its logistics coverage can reach 224 countries/regions around the world. The convenience of Cainiao Logistics can feed back the international sales of overseas e-commerce Lazada, AliExpress and Tmall. These businesses have increased Ali's overall competitiveness. Regardless of the strength or weakness of the specific track, Ali's width and thickness on the infrastructure side, as well as the leadership of the overall strategy, are first-class. As long as it still has the heart to be a champion, it will not fall easily.</p><p>In Zhang Yong's letter to shareholders in July, he clearly put forward Ali's vision in the next stage, to be a company that better combines consumer Internet and industrial Internet. Judging from this quarter's financial report, Ali's business is firmly implementing this strategy. The track chosen by Ali is actually highly consistent with the general direction of Internet services to the real economy. This sense of pattern and execution means that Ali can continue to pursue long-term value without interference by short-term factors. Such a company is undoubtedly a good company for investors.</p>","source":"lfw","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>Ali's financial report is actually very valuable</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\">\nAli's financial report is actually very valuable\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">雷锋网</strong><span class=\"h-time small\">2021-08-06 22:02</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Author | Hu Zhe</p><p>Ali's \"downturn\" and \"stall\" are actually not valid. As far as it is concerned, the current growth rate is already an elephant dance.</p><p>Ali has issued a financial report, which is the first financial report after the recent turmoil in the Internet industry. Although many indicators in the financial report do not look beautiful, Ali's financial report itself is undoubtedly one of the best windows to observe the development of the industry.</p><p><b>How to settle accounts</b></p><p>On August 3, Alibaba produced a financial report with shrinking profits. While achieving operating income of 205.74 billion yuan, a year-on-year increase of 33.8%, its net profit was 42.835 billion yuan, a year-on-year decrease of 7.76%.</p><p>Of course, some people have calculated an account. If the related parts of Sun Art Retail are excluded from the total revenue of 205.74 billion yuan, then the revenue of 187.306 billion yuan will have a compound annual growth rate of about 27.66% compared with the same period in 2019. Double-digit growth is not a bad report card for a company of the size of Ali.</p><p>This quarter, Ali's board of directors also authorized an increase in the total share repurchase program from US $10 billion to US $15 billion, and repurchased approximately 18.1 million American depositary shares (approximately 144.5 million common shares) for approximately US $3.680 billion. This is the largest repurchase in Ali's history.</p><p>Some people even concluded that this is the largest repurchase in the history of Chinese companies so far.</p><p>Whether it is to reflect the confidence of the management or to save the market, this repurchase requires real money, and from the effect point of view, this money is not wasted.</p><p>Ali's financial report is difficult to read. The difficulty is that Ali's business is complex and there is no frame of reference.</p><p>Companies such as Pinduoduo and Meituan may surpass Alibaba in a certain single point indicator, but because of the huge difference in comprehensiveness, the comparability is not very strong. At most, they can be compared in a single track.</p><p>If you have to compare, you can only compare Ali with Tencent. Although Tencent has not yet announced its financial report for this quarter, the average compound annual growth rate of Tencent from q1 in 2019 to q1 in 2021 is 25.82%, which is quite close to Ali's 27.66% that we calculated earlier, so overall, It is not true to say that Ali is in a \"comprehensive downturn\" and \"stall\". For Ali, this growth rate is already an \"elephant dance\".</p><p><img src=\"https://static.tigerbbs.com/b65fc9253ff1832672bfe44b6f45848b\" tg-width=\"550\" tg-height=\"486\" referrerpolicy=\"no-referrer\"></p><p>Generally speaking, multi-point efforts have achieved good results. From the perspective of Ali's total market, the revenue of \"core business\" composed of Taobao, new retail, rookie, local life, cross-border wholesale and retail accounts for 87%, cloud computing, DME, etc. have also contributed. Business is still Ali's basic market, and the layout of basic market but multi-engine development has achieved initial results.</p><p><b>User growth</b></p><p>As China's e-commerce industry matures, the scale growth of active consumers will inevitably slow down. But Ali still handed over a good answer-as of the end of June 2021, the global annual active consumers of Alibaba Ecosystem reached 1.18 billion, an increase of 45 million from the previous quarter.</p><p>Of these 1.18 billion consumers, 912 million come from the Chinese market, including both online consumers on Chinese retail platforms and consumers who buy goods and services on platforms such as life services, digital media and entertainment. Lazada, AliExpress, Trendyol and Daraz serve 265 million overseas consumers.</p><p><img src=\"https://static.tigerbbs.com/884ac37ec9766390481e7cac1c541672\" tg-width=\"351\" tg-height=\"630\" referrerpolicy=\"no-referrer\"></p><p>In the face of Pinduoduo's aggressiveness, Alibaba offered Taote tit-for-tat. Previously, many people were not optimistic about Taote, believing that Taobao could not copy Pinduoduo's low-priced genes, and if it was copied, it meant that Taote was unprofitable. But it turns out that Taote's supply logic is indeed different from Pinduoduo's, with stronger momentum and stamina. Taote's annual active consumers have grown to more than 190 million, which has reached 23% of Pinduoduo in terms of scale alone. Considering that Taote has only been established for more than a year, the speed of this rise is not unpleasant.</p><p>In terms of user growth rate, Taote's new active consumers in a single quarter reached 40 million, which has exceeded Pinduoduo's 35.4 million. This is the first time that Taobao has suppressed Pinduoduo, who is rapidly advancing, in the growth rate of a single track.</p><p>In 2019, Ali urgently needed a product that could be played to open up the situation in the sinking market, and Taote decisively seized this opportunity. Taote and 1688 both belong to the B-series business group. Ali has maximized its ability to integrate B-end and C-end businesses, allowing the \"factory direct supply\" model to meet the consumer needs of sinking markets while ensuring quality and user experience. In 2019, Taote's business grew rapidly, with the number of annual active buyers rising to 100 million by the end of the year. The latest data is more than 190 million, a 200% growth twice in two years.</p><p>Another thing that everyone pays less attention to is actually the idle fish business, which is actually a billion-level module. Xianyu focuses on second-hand consumption and offers a variety of idle, recycled, refurbished, rental and retro products. According to the data disclosed in the financial report, at the end of the second quarter of this year, Xianyu's mobile monthly active users also exceeded 100 million, becoming a very active emerging sector of Ali's e-commerce.</p><p>The history of idle fish can be traced back to the second half of 2013.</p><p>The prototype solution of the product is called \"fun exchange\". However, after the product model deduction is completed, it is not considered what business this product model should carry. Xiaoyaozi pointed out that Ali has too many e-commerce businesses, and \"interesting exchange\" can try the community model.</p><p>So after three months, the team finally made a simple second-hand trading platform named \"Idle Fish\". In June 2014, Idle Fish was officially launched.</p><p>In March 2016, the Xianyu Community Convention was promulgated as a code of conduct for buyers and sellers. Then, the Xianyu Small Court was established, with high-credit users serving as reviewers, handling thousands of disputes every day. These are all means to deal with forum disputes. In August, Xianyu launched \"Xianyu\". In addition to requiring real-name authentication, Xianyu is also presented in the form of personal homepage. Users can pay attention to each other, similar to the personal homepage of Post Bar... It can be said that the community has been played to the extreme.</p><p>It is also worth mentioning the interaction between Xianyu and Taobao. Previously, Taobao live broadcast could be synchronized with Xianyu live broadcast, and each live broadcast could obtain traffic on Weibo, Taobao and Xianyu platforms at the same time. Taobao and Tmall will introduce the scenario of recycling idle resources in their business, and Xianyu will provide trade-in services for Taobao and Tmall users in an all-round way; Alipay and Sesame Credit will provide more in-depth credit and payment financial services for Idle Fish. Idle Fish will develop Alipay applets, provide idle resource recycling services for Alipay users, and carry out business integration in the field of rental and leasing.</p><p><img src=\"https://static.tigerbbs.com/67dea968778659cfc8a57a0eabf82c76\" tg-width=\"550\" tg-height=\"275\" referrerpolicy=\"no-referrer\"></p><p>Ali has hatched countless projects with internal resources, but Xianyu has seized the opportunity to be watered every time. More importantly, in the view of Zuolin Youli Channel, Xianyu is a business that truly respects the logic of the community and develops. Instead of a pseudo-community called community but actually e-commerce, this is consistent with Xiaoyaozi's original intention. If Xianyu is given e-commerce KPIs too early, Xianyu may have died.</p><p>Now, Xianyu is a platform for young people to gather, with post-95 users accounting for more than 35%. With the two trump cards of \"young people\" and \"second-hand trading\", Xianyu has entered the trend market again. Not long ago, Xianyu launched the \"Xianyu Chaoshe\" section. In addition to integrating the sales information of second-hand trendy products, it also provided services such as trendy shoe recycling, professional appraisal, washing and maintenance, etc. to standardize second-hand transactions. In addition, Xianyu also launched the \"Tide Gravity\" program, inviting relevant people, buyers and enthusiasts in the fashion industry to settle in. These actions have improved the user stickiness of Ali e-commerce and strengthened Ali's attractiveness to young users. Some people even say that for young people, Xianyu is the next station B. Many of the lifestyles posted by the Up owners of station B are related to the things found on Xianyu.</p><p>In addition to Taote and Xianyu as two outstanding highlights, it is worth looking forward to the mutual openness of Ali and Tencent systems. Some people may understand that this is the result of regulatory forcing. But in fact, the core businesses of the two major systems, namely Tencent's social networking and Ali's e-commerce, have achieved the ultimate, and they have fully attracted users in places where their own businesses can serve. In this case, although there are definitely many places to guard against each other, after all, it means breaking the ice between the Internet economies of China's two billion-level user systems, which is really worth looking forward to.</p><p><b>Under pressure</b></p><p>In a sense, both Taote business and Xianyu business belong to Ali's defensive businesses. The former is to defend against Pinduoduo's sharp attack in the sinking market and prevent this business with a lot of room for increment from being completely occupied by Pinduoduo. The latter is to tap Ali's traffic potential and maintain stickiness to young people, which is equivalent to reserving increments for the future.</p><p>The two completely different battlefields of local life and community group buying are the offensive businesses that Ali wants to launch.</p><p>In terms of local life services, Ali's revenue this quarter increased by 23% year-on-year to 8.757 billion yuan. During this quarter, Ele.me's order volume increased by more than 50% year-on-year.</p><p>However, despite maintaining a 50% increase, the gap between Ele.me and Meituan still exists.. Judging from the data of the previous fiscal quarter, Meituan's total revenue reached 37 billion yuan, of which food delivery revenue was 20.58 billion yuan, which is equivalent to the volume of 2-3 Ele.me. Moreover, except for the quarters affected by the epidemic, Meituan's year-on-year growth rate exceeded 35%. Due to its large base, the actual increase is much larger than that of Ele.me.</p><p>Therefore, at the beginning of July this year, Alibaba announced the upgrade of its organizational structure. The three major businesses of geographical location services, namely AutoNavi, Local Life and Fliggy, will form a life service sector, which is considered by the outside world to be the main battlefield for Ali against Meituan.</p><p>We have summarized many problems in Ali's local life. Our conclusion is that the core problem is not that Ali does not have enough resources. For such a business, upgrading to the life service sector shows Ali's determination.</p><p>Although community e-commerce is a supplement to Ali, the high sinking ability of the community e-commerce model and the mutual complementarity with the high-cost, high-fighting Hema are Ali's complete layout in the entire pan-fresh market, so Although Ali did not move early in the community e-commerce business, its strategic priority is not low.</p><p>On March 1 this year, Alibaba officially established the MMC business group. Insiders jokingly called it \"buy and buy vegetables\". It mainly focuses on the community e-commerce business, integrates the community group buying business of Retail Link and the Hema market business, and then the entire MBC The sector coordinates the Class B business group and the Hema business group, and also takes into account the agriculture-related business of Ali Group. This is not unrelated to the fact that a large part of the essence of community e-commerce is the upward movement of agricultural products, and Pinduoduo's core advantage is the upward movement of agricultural products. Therefore, MMC and Pinduoduo still have an agricultural battlefield, and Pinduoduo has certain advantages. It remains to be seen how MMC will break the situation.</p><p>It is said that the biggest feature of an enterprise like Ali is its deep foundation. Although it has failed in many tracks in recent years, such as entertainment and local life, it can still free up its hands to open up new tracks, and it can still line up on the above-mentioned front. The formation of reserve cadres like Yu Yongfu, Dai Shan and even Yang Lei really shows the foundation of \"old money\". As long as Ali still has a heart to pursue growth, talent is by no means a problem.</p><p><b>end</b></p><p>Some people may ask why not talk about Alibaba's cloud business. After all, this toB business is one of Alibaba's biggest and latest achievements. Although there have been some ups and downs due to the loss of Byte's overseas cloud business, Alibaba's share of the global cloud computing market is still very stable, and after the integration of cloud and nail, Alibaba will also have great achievements in the SaaS market. It is only a matter of time before Alibaba Cloud goes public, but now is by no means the best time window.</p><p>In this financial report, Ali's cross-border retail Q1 revenue was 10.8 billion yuan, a year-on-year increase of 54%. Driven by this, Cainiao's logistics service also performed well, with revenue of 11.6 billion yuan, a year-on-year increase of more than 50%. A very important point to watch.</p><p>Lei Feng.com believes that Alibaba Cloud and Cainiao are just the mirror images of Ali's basic capacity building, one virtual and one real, and they already have the ability to cross the virtual and real world and become the bottom of Ali's entire ecosystem. In addition to the endless scope of cloud computing, Cainiao Network has 89 cross-border logistics partners, and its logistics coverage can reach 224 countries/regions around the world. The convenience of Cainiao Logistics can feed back the international sales of overseas e-commerce Lazada, AliExpress and Tmall. These businesses have increased Ali's overall competitiveness. Regardless of the strength or weakness of the specific track, Ali's width and thickness on the infrastructure side, as well as the leadership of the overall strategy, are first-class. As long as it still has the heart to be a champion, it will not fall easily.</p><p>In Zhang Yong's letter to shareholders in July, he clearly put forward Ali's vision in the next stage, to be a company that better combines consumer Internet and industrial Internet. Judging from this quarter's financial report, Ali's business is firmly implementing this strategy. The track chosen by Ali is actually highly consistent with the general direction of Internet services to the real economy. This sense of pattern and execution means that Ali can continue to pursue long-term value without interference by short-term factors. Such a company is undoubtedly a good company for investors.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/54GX2DrRpSwLHDALOzz_2Q\">雷锋网</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/182898948da406d6e28326b4262d6694","relate_stocks":{"09988":"阿里巴巴-W","BABA":"阿里巴巴"},"source_url":"https://mp.weixin.qq.com/s/54GX2DrRpSwLHDALOzz_2Q","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109654183","content_text":"作者 | 胡喆\n阿里的“低迷”和“失速”，其实并不成立。当前的增速于它而言，已经是大象起舞了。\n阿里发财报了，这是互联网行业最近经历风波后的第一份财报。尽管财报的不少指标看起来算不上漂亮，但阿里的财报本身，无疑是观察行业发展最好的窗口之一。\n怎么算账\n8月3日，阿里巴巴拿出的是一份利润缩水的财报，在实现营业收入2057.4亿元，同比增长33.8%的同时，其净利润为428.35亿元，同比下滑7.76%。\n当然也有人算过一笔账，如果从2057.40亿元的总营收中剔除高鑫零售相关部分，那么1873.06亿元的营收与2019年同期相比，年复合增长率也有约27.66%，而二位数增长对于阿里这个体量的企业来说，并不是一份很糟糕的成绩单。\n本季度，阿里董事会还授权将股份回购计划总额从100亿美元增至 150亿美元，以约36.80亿美元回购了约1810万股美国存托股（约合1.445 亿股普通股），这是阿里史上力度最大的回购。\n甚至有人总结说，这是目前为止中国企业史上力度最大的回购。\n不管是反映管理层的信心也好，还是为了救市也罢，这次回购都是要拿出真金白银的，而从效果看来，这笔钱没有白花。\n阿里财报难读，难处在于阿里业务复杂，没有什么参照系。\n拼多多、美团这些企业，都可能在某个单点指标上超过阿里，但是因为在综合性上相差悬殊，所以可比性并不是很强，最多是在单一赛道里可以比一比。\n如果非要比，只能把阿里和腾讯比。虽然腾讯还没有公布这季度的财报，但腾讯从2019年q1到2021年q1的年复合增长率的平均数是25.82%，和我们前面算过的阿里的27.66%相当接近，所以总体来说，说阿里“全面低迷”、“失速”之类的，是并不成立的，这个增速对于阿里而言，已经是“大象起舞”了。\n\n总体来说，多点发力已经取得了不错的成绩，从阿里的总盘子来看，由淘系、新零售、菜鸟、本地生活、跨境批发和零售等共同构成的“核心商业”收入占比87%，云计算、DME等也有所贡献，商业仍然是阿里的基本盘，基本盘但多引擎发展的布局，已经初见成效。\n用户增长\n随着中国电商产业的发展成熟，活跃消费者的规模增长必然放缓。但阿里仍然交出了一张不错的答卷——截至2021年6月底，阿里巴巴生态全球年度活跃消费者达到11.8亿，较上一季度增加4500万。\n这11.8亿消费者里中，有9.12亿来自中国市场，既包括中国零售平台的线上消费者，也包括生活服务、数字媒体和娱乐等平台上购买商品和服务的消费者。而 Lazada、速卖通、Trendyol及Daraz服务了2.65 亿海外消费者。\n\n面对拼多多的咄咄逼人，阿里祭出了淘特针锋相对。此前很多人不看好淘特，认为淘宝无法复制拼多多的低价基因，而如果复制了则意味着淘特无利可图。但事实证明，淘特的供给逻辑确实有别于拼多多，起劲儿和后劲儿更猛。淘特的年度活跃消费者增长至超过1.9亿，单从规模来说已达到拼多多的23%。考虑到淘特成立才一年多，这个起势的速度不可谓不快。\n而在用户增长速度上说，淘特单季度新增的活跃消费者达到4000万，已经超过拼多多的3540万，这是淘宝在单一赛道增速上首次压制狂飙突进的拼多多。\n2019年，阿里急需一款能打的产品在下沉市场打开局面，淘特果断抓住了这个机会。淘特和1688同属于B系事业群，阿里最大限度地发挥了它整合B端和C端业务的能力，让“工厂直供”的模式在满足下沉市场消费需求的同时，能够保障质量和用户体验。2019年，淘特业务增长迅猛，年活跃买家数到当年底就上涨到1亿，最新数据则是超过1.9亿，两年两次200%的成长。\n另一个大家关注较少的其实是闲鱼业务，这其实也是一个亿级模块。闲鱼主打二手消费，提供各种闲置、回收、翻新、租赁和复古产品。根据财报披露的数据，今年二季度末，闲鱼的移动月活用户也超过了1亿，成为阿里电商非常活跃的一个新兴板块。\n闲鱼的历史可以追溯到2013年下半年，\n产品原型方案叫作“趣换”。然而在产品模型推演完成后，并没有考虑好这个产品模型应该承载什么业务。逍遥子提出，阿里的电商业务太多了，“趣换”可以试试社区模式。\n于是经过3个月，团队终于做出了一个简陋的二手交易平台，取名为“闲鱼”，2014年6月，闲鱼正式上线运行。\n2016年3月，《闲鱼社区公约》出台，作为买卖双方的行为规范。接着，闲鱼小法庭成立，由高信用的用户担任评审员，每天处理上千起纠纷。这些都是处理论坛纠纷的手段。8月，闲鱼推出了“闲鱼号”，除了需要实名认证，闲鱼号还以个人主页的形式呈现，用户之间可以相互关注，类似贴吧的个人主页……可以说把社区玩到了极致。\n另外值得一提的还有闲鱼与淘宝的互动。此前淘宝直播可以同步到闲鱼直播，每一场直播可以同时获得在微博、淘宝、闲鱼 3 个平台的流量。淘宝、天猫将在业务中引入闲置资源循环利用的场景，闲鱼全面为淘宝、天猫用户提供以旧换新服务；支付宝和芝麻信用将为闲鱼提供更深入的信用和支付金融服务，闲鱼将开发支付宝小程序，为支付宝用户提供闲置资源循环服务，并在租房租赁领域展开业务整合。\n\n阿里用内部资源孵化的项目不计其数，但闲鱼抓住了每次被浇灌的机会，更重要的是，在左林右狸频道看来，闲鱼是真正尊重社区逻辑而发展起来的业务，而不是名为社区实为电商的伪社区，这和逍遥子的初衷吻合，而如果给闲鱼过早背上电商KPI，可能闲鱼已经挂掉了。\n现在，闲鱼是一个年轻人集聚的平台，95后用户占比超过35%。拥有“年轻人”和“二手交易”两张王牌，闲鱼又入局潮流市场。前不久，闲鱼上线“闲鱼潮社”板块，除整合二手潮品售卖信息之外，还提供了潮鞋回收、专业鉴定、洗护保养等服务，以规范二手交易。此外，闲鱼还启动了“潮有引力”计划，邀请潮流行业相关人士、买手、爱好者入驻。这些动作都提高了阿里电商的用户黏性，强化了阿里对于年轻用户的吸引力。甚至有人说，对于年轻人来说，闲鱼就是下一个B站，那些B站Up主晒出的生活方式，很多都和在闲鱼上淘来的东西有关。\n除了淘特和闲鱼是两个突出亮点外，值得期待的是阿里和腾讯体系的互相开放，有人或许理解为这是监管倒逼的结果。但从事实上看，两大体系的核心业务，也就是腾讯的社交和阿里的电商，都已做到极致，都已经把自己业务能服务的地方的用户吸引充分了，在这种情况下的开放虽然肯定有很多彼此提防的地方，但毕竟意味着中国两大十亿级用户体系的互联网经济体之间的破冰，实在是值得期待。\n承压\n某种意义上来说，淘特业务和闲鱼业务都属于阿里的防守型业务，前者是为了防御拼多多在下沉市场的犀利进攻，避免这个有大量增量空间的业务被拼多多完全占据，后者是挖掘阿里的流量潜力并保持对年轻人的黏性，等于为未来储备增量。\n而截然不同的，本地生活和社区团购两个战场，是阿里要打出去的进攻型业务。\n本地生活服务方面，阿里本季度收入同比增长23%至87.57亿元，饿了么在本季度内，订单量同比增长超过50%。\n但是，尽管保持了50%的增幅，饿了么与美团的差距还是依然存在。。以上个财季的数据来看，美团总营收达370亿元，其中餐饮外卖营收为205.8亿元，相当于2-3个饿了么的体量，而且，除疫情影响的季度外，美团外卖的同比增幅都超过35%，由于其基数大，所以实际增量也远大于饿了么。\n因此，今年7月初，阿里巴巴宣布组织架构升级，将基于地理位置服务的三大业务，即高德、本地生活和飞猪，组成生活服务板块，被外界认为是阿里对抗美团的主战场。\n阿里在本地生活方面的问题，我们已经总结许多。我们的结论是，核心问题不是阿里没有足够的资源，对于这样的业务，升级为生活服务板块重装出击，足见阿里的决心。\n而社区电商虽然对于阿里是一个补充，但社区电商模式的高下沉能力和与高成本、高举高打的盒马的相互补充，才是阿里在整个泛生鲜市场的完整布局，所以社区电商业务，阿里虽然动得不算早，但战略优先级不低。\n今年3月1日，阿里巴巴正式成立MMC事业群，内部人士戏称其为“买买菜”，主要聚焦社区电商业务，整合了零售通的社区团购业务和盒马集市业务，再由整个MBC板块统筹B类事业群和盒马事业群，同时还兼顾阿里集团涉农业务。这与社区电商的本质中有一大部分是农产品上行，而拼多多的核心优势就是农产品上行，都不无关系。所以mmc和拼多多还有一个农业战场，拼多多有一定的优势，MMC如何破局尚待观察。\n话说阿里这样的企业，最大的特点就是底蕴深，虽然近年来在不少赛道，如文娱、本地生活都铩羽而归，但依然能腾出手来开拓新赛道，还依然能在上述战线排兵布阵，摆出俞永福、戴珊乃至杨磊这样的后备干部，的确说明了“old money”的底蕴，只要阿里还有一颗追求增长的心，人才绝非问题。\n结尾\n也许有人问为何不谈阿里云业务，毕竟这块toB业务是阿里最大、最新的成就之一，尽管因为失去了字节在海外的云业务出现一些起伏，但阿里在全球云计算市场的份额还是非常稳，而且云钉一体后，阿里在SaaS市场也将有大有作为，阿里云上市只是时间问题，但当下绝不是个最好的时间窗口。\n本次财报中，阿里跨境零售Q1的收入为108亿元，同比增长54%，在此驱动之下，菜鸟物流服务表现也亮眼，收入116亿元，同比增长超过50%，成为财报里一个很重要的看点。\n雷锋网认为，阿里云和菜鸟恰好是阿里基础能力建设一虚一实两个世界的镜像，而两者已经具备了横跨虚实世界成为阿里整个生态底层的能力，除了云计算的无远弗届外，菜鸟网络的跨境物流合作伙伴数量有89家，物流覆盖能力可达至全球224个国家/地区，菜鸟物流的便捷又可反哺境外电商Lazada、速卖通、还有天猫的国际销售，销售和物流相辅相成。这些业务都增加了阿里的整体竞争力。而不管具体赛道的强或弱，阿里在基础建设端的宽度和厚度，以及整体战略的领先性都是一流的，只要它还有一颗当冠军的心，那它就不会轻易倒下。\n在7月张勇致股东的信里，明确提出了阿里在下一阶段的愿景，做一家消费互联网和产业互联网结合得更好的公司。从这一季的财报来看，阿里的业务在坚定地执行这一战略，阿里选择的赛道，其实和互联网服务实体经济的大方向是高度契合的，这样的格局感和执行力，意味着阿里能够不为短期因素干扰，持续追求长期价值。这样的公司，对于投资者来说，无疑还是一家好公司。","news_type":1,"symbols_score_info":{"BABA":0.9,"09988":0.9}},"isVote":1,"tweetType":1,"viewCount":352,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802356204,"gmtCreate":1627722560708,"gmtModify":1703495227798,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/802356204","repostId":"2155133311","repostType":4,"isVote":1,"tweetType":1,"viewCount":320,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9945301093,"gmtCreate":1681364155513,"gmtModify":1681364159591,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"htmlText":"Very good very good&nbsp;","listText":"Very good very good&nbsp;","text":"Very good very good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9945301093","isVote":1,"tweetType":1,"viewCount":1974,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9945977416,"gmtCreate":1681363018136,"gmtModify":1681363020829,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/TSLA\">$特斯拉(TSLA)$&nbsp;</a>hhhhhhhhh","listText":"<a href=\"https://ttm.financial/S/TSLA\">$特斯拉(TSLA)$&nbsp;</a>hhhhhhhhh","text":"$特斯拉(TSLA)$ hhhhhhhhh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9945977416","isVote":1,"tweetType":1,"viewCount":2520,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9945977281,"gmtCreate":1681363000643,"gmtModify":1681363004154,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"htmlText":"Good good good good&nbsp;","listText":"Good good good good&nbsp;","text":"Good good good good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9945977281","isVote":1,"tweetType":1,"viewCount":1871,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9922394013,"gmtCreate":1671684827532,"gmtModify":1676538576154,"author":{"id":"4090730840029950","authorId":"4090730840029950","name":"thomaschai","avatar":"https://static.tigerbbs.com/60d0ea90d448581d311ba0fca8614ef4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090730840029950","idStr":"4090730840029950"},"themes":[],"htmlText":"ZZZ7,/ok,&nbsp;&nbsp;","listText":"ZZZ7,/ok,&nbsp;&nbsp;","text":"ZZZ7,/ok,","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9922394013","repostId":"2293725143","repostType":2,"repost":{"id":"2293725143","kind":"highlight","pubTimestamp":1671680253,"share":"https://ttm.financial/m/news/2293725143?lang=en_US&edition=fundamental","pubTime":"2022-12-22 11:37","market":"hk","language":"zh","title":"Hong Kong stocks are okay again? The Hengke Index once soared by 5%. What is the key to watch in the future?","url":"https://stock-news.laohu8.com/highlight/detail?id=2293725143","media":"格隆汇","summary":"珍惜复苏的窗口期","content":"<p><html><head></head><body>After the market closed yesterday, a number of heavy benefits landed. Today, Hong Kong stocks \"reborn\" and opened higher and moved higher. The Hang Seng Technology Index once soared 5%, and the Hang Seng Index rose 529 points, or 2.74%, to 19,683 points. The State Index rose more than 3%.</p><p><img src=\"https://static.tigerbbs.com/e2e6b89b12b8e9c1d668f0dd150cacf2\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>On the news side, helped by<a href=\"https://laohu8.com/S/NKE\">Nike</a>(Nike) and<a href=\"https://laohu8.com/S/FDX\">FedEx</a>Announced upbeat quarterly earnings, as well as improved consumer confidence and lower inflation expectations among investors. The three major stock indexes of the U.S. stock market closed higher on Wednesday. All three major indexes rose more than 1%, the largest one-day increase so far in December. Chinese concept stocks rose nearly 4%.</p><p>The policy has also ushered in a number of good news. The China Securities Regulatory Commission proposes to<b>Form a normalized cooperation mechanism for audit supervision between China and the United States, and accelerate the implementation of \"green light\" cases for overseas listing of platform companies</b>； The Standing Committee of the State Council emphasized adhering to the \"two unwavering principles\",<b>Support private enterprises to boost confidence and develop better. Support the healthy and sustainable development of the platform economy.</b></p><p><h3>Hong Kong stocks have been consolidating at high levels recently</h3>The three major indexes of Hong Kong stocks fluctuated and closed up yesterday, showing signs of stopping the decline after the previous day's sharp drop. However, due to the strong rebound of Hong Kong stocks after the optimization of epidemic prevention in November, the cumulative increase of the Hang Seng Index even reached 50%. Subsequently, funds chose to take profits and left the market to wait and see.</p><p>The entire market sentiment dropped sharply as there were no new hot spots. Yesterday, the turnover of Hong Kong stocks fell to less than 70 billion yuan, only 69.2 billion yuan. Superimposed on the return of funds brought about by the Bank of Japan's unexpected and sudden \"hawkish turn\", therefore, under the restriction of existing funds, the entire Hong Kong stock market has no obvious eye-catching sector.</p><p>With the successive implementation of the \"Twenty Articles\" and \"New Ten Articles\" of epidemic prevention policies, the marginal improvement effect brought about by further adjustments to subsequent policies will also be reduced, and the market<b>At present, we are most concerned about the recovery of social economic activities under the impact of the epidemic in the short term.</b></p><p><b>Looking forward to the first quarter, apart from the possibility of customs clearance with Hong Kong, we can hope that social activities will return to normal.</b>Among them, catering tourism was the first to recover, so this sector was quite active yesterday. Today, holiday concept stocks continued to rise.<a href=\"https://laohu8.com/S/00520\">Xiabuxiabu</a>Rose more than 14%,<a href=\"https://laohu8.com/S/06862\">Haidilao</a>Up more than 10%,<a href=\"https://laohu8.com/S/01579\">Yihai International</a>It rose nearly 7%, Meituan rose more than 5%, and Huazhu Group and Tongcheng Travel followed suit.</p><p><img src=\"https://static.tigerbbs.com/b9feb0c63763f96a551e877ae5db663c\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>On December 21, Xiabu Group disclosed the latest dine-in consumption situation. Xiabu North China market ushered in the first small consumption peak of resuming dine-in consumption. The passenger flow of some restaurants quickly picked up, and the scene of waiting in line reappeared.</p><p>According to Haidilao, the passenger flow of the store is gradually recovering. Since December 16, the passenger flow has begun to rebound. In the past few days, the passenger flow has increased by nearly 50% compared with the same period last week. Haidilao said that it is expected to continue to pick up in the next two weeks, especially holidays such as weekends, Christmas, and New Year's Day, which will usher in a wave of peak periods.</p><p><h3>The China Securities Regulatory Commission and the National Standing Committee made big statements</h3>In addition, after the market closed yesterday, the China Securities Regulatory Commission and the Standing Committee of the State Council have the latest support measures for real estate and platform economy.</p><p>The China Securities Regulatory Commission held a meeting to emphasize the need to expand the high-level institutional opening of the capital market.<b>Promote the interconnection of Shanghai-Shenzhen-Hong Kong Stock Connect, expand the target and optimize the trading calendar.</b></p><p><b>In terms of audit between China and the United States,</b>The China Securities Regulatory Commission pointed out that it will promote the formation of a normalized cooperation mechanism for audit supervision between China and the United States and create a more stable and predictable international regulatory cooperation environment. Promote the implementation of the reform of the overseas listing system of enterprises, and accelerate the implementation of \"green light\" cases for overseas listing of platform enterprises. Deepen pragmatic cooperation between the mainland and Hong Kong capital markets, and support Hong Kong in consolidating its status as an international financial center.</p><p>It is worth mentioning that on the morning of December 15, local time, the US PCAOB issued a report confirming that it can complete inspections and investigations of accounting firms in mainland China and Hong Kong in 2022, and revoke the identification of relevant firms in 2021. The market generally believes that this marks the positive results of Sino-US audit supervision cooperation and sends a positive signal for Chinese companies to list in the United States.</p><p><b>In addition, the executive meeting of the State Council once again emphasized adhering to the \"two unwavering principles\" and supporting private enterprises to boost confidence and develop better. Support the healthy and sustainable development of the platform economy.</b></p><p>Xie Logistics, senior investment consultant of Jufeng Investment Consulting, believes that the implementation of various measures of the National Standing Committee will help improve and promote the steady development of the economy and play an important role in boosting the confidence of private enterprises and the market. This meeting also mentioned \"supporting the healthy and sustainable development of the platform economy\". Behind the platform economy, there are thousands of jobs in Qian Qian. After a period of regulatory governance in the past, with policy support, it is believed that platform economy enterprises will play a greater role in the future. Technology stocks broke out in an all-round way today,<a href=\"https://laohu8.com/S/09626\">Bilibili-W</a>It rose by more than 9%, Kuaishou, JD.com, and Meituan rose by more than 5%, Baidu and Alibaba rose by more than 4%, and NetEase and Tencent rose by more than 3%.</p><p><img src=\"https://static.tigerbbs.com/e559c00d1116c1165c5b7fac027a0b4c\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p><b>Regarding real estate,</b>The China Securities Regulatory Commission held a meeting to emphasize that it strongly supports the steady development of the real estate market. Comprehensively implement the plan to improve the balance sheet of high-quality real estate companies, continue to implement special support plans and support tools for private enterprise bond financing, and better promote central-local cooperation to enhance credit and jointly support private real estate companies to issue bonds. Implement the equity financing policies for real estate companies that have been introduced,<b>Allow qualified real estate companies to \"backdoor\" listed real estate companies, and allow listed companies in closely related industries such as real estate and construction to implement real estate-related restructuring. Accelerate the creation of affordable rental housing REITs sector.</b></p><p>The central bank held a meeting to emphasize supporting rigid and improved housing demand and guiding<a href=\"https://laohu8.com/S/FISI\">Financial institution</a>Support restructuring and mergers and acquisitions in the real estate industry, promote the prevention and resolution of risks of high-quality leading real estate companies, and improve the assets and liabilities of leading real estate companies.</p><p>Benefiting from this, mainland real estate stocks opened higher and moved higher.<a href=\"https://laohu8.com/S/03301\">Ronshine China</a>It rose more than 22%, and Zhenro Real Estate rose more than 8%.</p><p>The surge in consumer stocks such as technology stocks, mainland real estate stocks, and catering has driven the three major Hong Kong stock indexes to rise brilliantly.<b>This is because financial real estate, technology and other industries account for a relatively large proportion of the constituent stocks of the Hang Seng Index.</b></p><p>According to the quarterly inspection results of the Hang Seng Index in the third quarter, from the perspective of industry division, the proportion of the financial industry in the Hang Seng Index dropped from 34.66% to 33.98%, public utilities dropped from 3.21% to 3.13%, and real estate rose from 7.03% to 7.05%.%, industry and commerce rose from 55.1% to 55.84%.</p><p><img src=\"https://static.tigerbbs.com/bf533c5f1d91a3f8e56307f495b09cd3\" tg-width=\"1156\" tg-height=\"727\" referrerpolicy=\"no-referrer\"/></p><p>Source: CICC Securities</p><p>After this adjustment, the coverage of the real estate construction industry and non-essential and essential consumption increased from 48.1% and 48.4% to 50.5% and 50.7%, respectively.; The market value of the Hang Seng Index's new economy accounted for 48%. Therefore, from a micro perspective, news about the new economy, real estate, finance, etc. has a greater impact on the trend of Hong Kong stocks.</p><p><h3>What do you think of the follow-up investment value?</h3>On the whole, with overseas liquidity, domestic economic conditions, macro-policy factors and other aspects expected to improve, most brokerage analysts believe that the price-performance ratio of Hong Kong stocks is outstanding, and the trend next year is expected to be full of hope.</p><p>According to the analysis of Ping An Securities, the high point of the Hang Seng Index next year will be between 23,000 and 25,000, and it is recommended to allocate high-quality assets in Hong Kong stocks on dips.</p><p><a href=\"https://laohu8.com/S/000750\">Guohai Securities</a>It is believed that under the circumstances that internal policies release positive signals and the impact of the Federal Reserve's rate hike will gradually weaken, we are optimistic about the recovery of external factors, the subsequent epidemic situation and the boost of Internet performance after the improvement of macro margins, and maintain the industry's \"recommended\" rating.</p><p><a href=\"https://laohu8.com/S/601878\">Zheshang Securities</a>It means that 23 years is the year when Davis double-clicked on the Internet sector, and both the profit side and the valuation side will perform beyond expectations.</p><p>In addition, foreign-funded institutions also recommend overweighting the Chinese stock market. JPMorgan expects the MSCI China Index to rise by 10% in 2023;<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>It is believed that Chinese stocks will outperform other markets in 2023, and it is recommended to increase holdings. Morgan Stanley is bullish on the Chinese stock market again after nearly two years, raising the target point of the Hang Seng Index from 18,200 points to 21,200 points.</p><p></body></html></p>","source":"gelonghui_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hong Kong stocks are okay again? The Hengke Index once soared by 5%. What is the key to watch in the future?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHong Kong stocks are okay again? The Hengke Index once soared by 5%. What is the key to watch in the future?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">格隆汇</strong><span class=\"h-time small\">2022-12-22 11:37</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>After the market closed yesterday, a number of heavy benefits landed. Today, Hong Kong stocks \"reborn\" and opened higher and moved higher. The Hang Seng Technology Index once soared 5%, and the Hang Seng Index rose 529 points, or 2.74%, to 19,683 points. The State Index rose more than 3%.</p><p><img src=\"https://static.tigerbbs.com/e2e6b89b12b8e9c1d668f0dd150cacf2\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>On the news side, helped by<a href=\"https://laohu8.com/S/NKE\">Nike</a>(Nike) and<a href=\"https://laohu8.com/S/FDX\">FedEx</a>Announced upbeat quarterly earnings, as well as improved consumer confidence and lower inflation expectations among investors. The three major stock indexes of the U.S. stock market closed higher on Wednesday. All three major indexes rose more than 1%, the largest one-day increase so far in December. Chinese concept stocks rose nearly 4%.</p><p>The policy has also ushered in a number of good news. The China Securities Regulatory Commission proposes to<b>Form a normalized cooperation mechanism for audit supervision between China and the United States, and accelerate the implementation of \"green light\" cases for overseas listing of platform companies</b>； The Standing Committee of the State Council emphasized adhering to the \"two unwavering principles\",<b>Support private enterprises to boost confidence and develop better. Support the healthy and sustainable development of the platform economy.</b></p><p><h3>Hong Kong stocks have been consolidating at high levels recently</h3>The three major indexes of Hong Kong stocks fluctuated and closed up yesterday, showing signs of stopping the decline after the previous day's sharp drop. However, due to the strong rebound of Hong Kong stocks after the optimization of epidemic prevention in November, the cumulative increase of the Hang Seng Index even reached 50%. Subsequently, funds chose to take profits and left the market to wait and see.</p><p>The entire market sentiment dropped sharply as there were no new hot spots. Yesterday, the turnover of Hong Kong stocks fell to less than 70 billion yuan, only 69.2 billion yuan. Superimposed on the return of funds brought about by the Bank of Japan's unexpected and sudden \"hawkish turn\", therefore, under the restriction of existing funds, the entire Hong Kong stock market has no obvious eye-catching sector.</p><p>With the successive implementation of the \"Twenty Articles\" and \"New Ten Articles\" of epidemic prevention policies, the marginal improvement effect brought about by further adjustments to subsequent policies will also be reduced, and the market<b>At present, we are most concerned about the recovery of social economic activities under the impact of the epidemic in the short term.</b></p><p><b>Looking forward to the first quarter, apart from the possibility of customs clearance with Hong Kong, we can hope that social activities will return to normal.</b>Among them, catering tourism was the first to recover, so this sector was quite active yesterday. Today, holiday concept stocks continued to rise.<a href=\"https://laohu8.com/S/00520\">Xiabuxiabu</a>Rose more than 14%,<a href=\"https://laohu8.com/S/06862\">Haidilao</a>Up more than 10%,<a href=\"https://laohu8.com/S/01579\">Yihai International</a>It rose nearly 7%, Meituan rose more than 5%, and Huazhu Group and Tongcheng Travel followed suit.</p><p><img src=\"https://static.tigerbbs.com/b9feb0c63763f96a551e877ae5db663c\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>On December 21, Xiabu Group disclosed the latest dine-in consumption situation. Xiabu North China market ushered in the first small consumption peak of resuming dine-in consumption. The passenger flow of some restaurants quickly picked up, and the scene of waiting in line reappeared.</p><p>According to Haidilao, the passenger flow of the store is gradually recovering. Since December 16, the passenger flow has begun to rebound. In the past few days, the passenger flow has increased by nearly 50% compared with the same period last week. Haidilao said that it is expected to continue to pick up in the next two weeks, especially holidays such as weekends, Christmas, and New Year's Day, which will usher in a wave of peak periods.</p><p><h3>The China Securities Regulatory Commission and the National Standing Committee made big statements</h3>In addition, after the market closed yesterday, the China Securities Regulatory Commission and the Standing Committee of the State Council have the latest support measures for real estate and platform economy.</p><p>The China Securities Regulatory Commission held a meeting to emphasize the need to expand the high-level institutional opening of the capital market.<b>Promote the interconnection of Shanghai-Shenzhen-Hong Kong Stock Connect, expand the target and optimize the trading calendar.</b></p><p><b>In terms of audit between China and the United States,</b>The China Securities Regulatory Commission pointed out that it will promote the formation of a normalized cooperation mechanism for audit supervision between China and the United States and create a more stable and predictable international regulatory cooperation environment. Promote the implementation of the reform of the overseas listing system of enterprises, and accelerate the implementation of \"green light\" cases for overseas listing of platform enterprises. Deepen pragmatic cooperation between the mainland and Hong Kong capital markets, and support Hong Kong in consolidating its status as an international financial center.</p><p>It is worth mentioning that on the morning of December 15, local time, the US PCAOB issued a report confirming that it can complete inspections and investigations of accounting firms in mainland China and Hong Kong in 2022, and revoke the identification of relevant firms in 2021. The market generally believes that this marks the positive results of Sino-US audit supervision cooperation and sends a positive signal for Chinese companies to list in the United States.</p><p><b>In addition, the executive meeting of the State Council once again emphasized adhering to the \"two unwavering principles\" and supporting private enterprises to boost confidence and develop better. Support the healthy and sustainable development of the platform economy.</b></p><p>Xie Logistics, senior investment consultant of Jufeng Investment Consulting, believes that the implementation of various measures of the National Standing Committee will help improve and promote the steady development of the economy and play an important role in boosting the confidence of private enterprises and the market. This meeting also mentioned \"supporting the healthy and sustainable development of the platform economy\". Behind the platform economy, there are thousands of jobs in Qian Qian. After a period of regulatory governance in the past, with policy support, it is believed that platform economy enterprises will play a greater role in the future. Technology stocks broke out in an all-round way today,<a href=\"https://laohu8.com/S/09626\">Bilibili-W</a>It rose by more than 9%, Kuaishou, JD.com, and Meituan rose by more than 5%, Baidu and Alibaba rose by more than 4%, and NetEase and Tencent rose by more than 3%.</p><p><img src=\"https://static.tigerbbs.com/e559c00d1116c1165c5b7fac027a0b4c\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p><b>Regarding real estate,</b>The China Securities Regulatory Commission held a meeting to emphasize that it strongly supports the steady development of the real estate market. Comprehensively implement the plan to improve the balance sheet of high-quality real estate companies, continue to implement special support plans and support tools for private enterprise bond financing, and better promote central-local cooperation to enhance credit and jointly support private real estate companies to issue bonds. Implement the equity financing policies for real estate companies that have been introduced,<b>Allow qualified real estate companies to \"backdoor\" listed real estate companies, and allow listed companies in closely related industries such as real estate and construction to implement real estate-related restructuring. Accelerate the creation of affordable rental housing REITs sector.</b></p><p>The central bank held a meeting to emphasize supporting rigid and improved housing demand and guiding<a href=\"https://laohu8.com/S/FISI\">Financial institution</a>Support restructuring and mergers and acquisitions in the real estate industry, promote the prevention and resolution of risks of high-quality leading real estate companies, and improve the assets and liabilities of leading real estate companies.</p><p>Benefiting from this, mainland real estate stocks opened higher and moved higher.<a href=\"https://laohu8.com/S/03301\">Ronshine China</a>It rose more than 22%, and Zhenro Real Estate rose more than 8%.</p><p>The surge in consumer stocks such as technology stocks, mainland real estate stocks, and catering has driven the three major Hong Kong stock indexes to rise brilliantly.<b>This is because financial real estate, technology and other industries account for a relatively large proportion of the constituent stocks of the Hang Seng Index.</b></p><p>According to the quarterly inspection results of the Hang Seng Index in the third quarter, from the perspective of industry division, the proportion of the financial industry in the Hang Seng Index dropped from 34.66% to 33.98%, public utilities dropped from 3.21% to 3.13%, and real estate rose from 7.03% to 7.05%.%, industry and commerce rose from 55.1% to 55.84%.</p><p><img src=\"https://static.tigerbbs.com/bf533c5f1d91a3f8e56307f495b09cd3\" tg-width=\"1156\" tg-height=\"727\" referrerpolicy=\"no-referrer\"/></p><p>Source: CICC Securities</p><p>After this adjustment, the coverage of the real estate construction industry and non-essential and essential consumption increased from 48.1% and 48.4% to 50.5% and 50.7%, respectively.; The market value of the Hang Seng Index's new economy accounted for 48%. Therefore, from a micro perspective, news about the new economy, real estate, finance, etc. has a greater impact on the trend of Hong Kong stocks.</p><p><h3>What do you think of the follow-up investment value?</h3>On the whole, with overseas liquidity, domestic economic conditions, macro-policy factors and other aspects expected to improve, most brokerage analysts believe that the price-performance ratio of Hong Kong stocks is outstanding, and the trend next year is expected to be full of hope.</p><p>According to the analysis of Ping An Securities, the high point of the Hang Seng Index next year will be between 23,000 and 25,000, and it is recommended to allocate high-quality assets in Hong Kong stocks on dips.</p><p><a href=\"https://laohu8.com/S/000750\">Guohai Securities</a>It is believed that under the circumstances that internal policies release positive signals and the impact of the Federal Reserve's rate hike will gradually weaken, we are optimistic about the recovery of external factors, the subsequent epidemic situation and the boost of Internet performance after the improvement of macro margins, and maintain the industry's \"recommended\" rating.</p><p><a href=\"https://laohu8.com/S/601878\">Zheshang Securities</a>It means that 23 years is the year when Davis double-clicked on the Internet sector, and both the profit side and the valuation side will perform beyond expectations.</p><p>In addition, foreign-funded institutions also recommend overweighting the Chinese stock market. JPMorgan expects the MSCI China Index to rise by 10% in 2023;<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>It is believed that Chinese stocks will outperform other markets in 2023, and it is recommended to increase holdings. Morgan Stanley is bullish on the Chinese stock market again after nearly two years, raising the target point of the Hang Seng Index from 18,200 points to 21,200 points.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.gelonghui.com/p/570137\">格隆汇</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/cc3c5eecabc22a565a773e3dd9ba0631","relate_stocks":{"513600":"恒生指数ETF","02833":"恒指ETF","HSI":"恒生指数","HSTECH":"恒生科技指数"},"source_url":"https://www.gelonghui.com/p/570137","is_english":false,"share_image_url":"https://static.laohu8.com/6b8fa6424aebe95f6781d04ef17a1852","article_id":"2293725143","content_text":"昨日盘后多项重磅利好落地，今日港股“咸鱼翻生”，高开高走，恒生科技指数一度飙涨5%，恒指上涨529点，或2.74%，报19683点。国指涨超3%。消息面上，受助于耐克(Nike)和联邦快递公布乐观的季度盈利，以及消费信心改善和投资者的通胀预期下降。美国股市三大股指周三收高，三大指数均涨超1%，创12月迄今最大单日涨幅，中概股大涨近4%。政策面也迎来多项利好消息。证监会提出推动形成中美审计监管常态化合作机制，加快平台企业境外上市“绿灯”案例落地；国常会强调坚持“两个毫不动摇”，支持民营企业提振信心、更好发展。支持平台经济健康持续发展。港股近日高位盘整港股昨日三大指数震荡收涨，继前一日大跌后有止跌迹象。但由于港股在11月的疫情防疫优化后强势反弹，恒生科指累计涨幅甚至高达50%随后资金纷纷选择获利了结，离场观望。整个市场气氛随着没有新热点而急降，昨日港股成交跌至不足700亿，仅有692亿元。叠加日本央行出人意料突然“转鹰”带来的资金回流，因此在存量资金的限制下，整个港股并没有明显的亮眼板块。随着防疫政策“二十条”以及“新十条”的陆续落地，后续政策的进一步调整带来的边际改善效应也会有所减小，市场目前最为关注的是在短期在疫情的冲击下，社会面的经济活动的回恢复情况。展望一季度，除了存在与香港通关的可能性外，能寄望的就是社会面活动恢复正常，这当中先复苏的是餐饮旅游，所以该板块昨日相当活跃，今日假日概念股持续拉升，呷哺呷哺涨超14%，海底捞涨超10%，颐海国际涨近7%，美团涨超5%，华住集团、同程旅行等跟涨。12月21日，呷哺集团披露最新堂食消费情况，呷哺华北市场迎来恢复堂食的首个消费小高峰，部分餐厅客流迅速回暖，重现排队等位的场景。据海底捞介绍，门店的客流量正在逐步恢复，12月16日起客流开始出现回升，这几天客流量较上周同期增长近五成。海底捞表示，预计未来2周会持续回暖，尤其是像周末、圣诞节、元旦节这样的节假日，会迎来一波高峰期。证监会、国常会重磅发声另外，昨日盘后，证监会、国常会关于房地产、平台经济均有最新的的支持措施。证监会召开会议强调，扩大资本市场高水平制度型开放。推动沪深港通互联互通扩大标的、优化交易日历落地。中美审计方面，证监会指出推动形成中美审计监管常态化合作机制，营造更加稳定、可预期的国际监管合作环境。推动企业境外上市制度改革落地实施，加快平台企业境外上市“绿灯”案例落地。深化内地与香港资本市场务实合作，支持香港巩固国际金融中心地位。值得一提的还是，当地时间12月15日上午，美PCAOB发布报告，确认2022年度可以对中国内地和香港会计师事务所完成检查和调查，撤销2021年对相关事务所作出的认定。市场普遍认为这标志着中美审计监管合作取得积极成效，对中国企业在美上市释放出积极信号。另外，国务院常务会议再度强调坚持“两个毫不动摇”，支持民营企业提振信心、更好发展。支持平台经济健康持续发展。巨丰投顾高级投资顾问谢后勤认为，国常会各项措施的实施将有助于改善和促进经济的平稳发展，对提振民营企业和市场信心有重要作用。本次会议还提到“支持平台经济健康持续发展”。平台经济背后关系到千千万万的就业岗位。在经过过去一段时间的监管治理之后，在政策支持下，相信未来平台经济企业将会发挥更大作用。今日科技股全面爆发，哔哩哔哩-W涨超9%，快手、京东、美团涨超5%，百度、阿里巴巴涨超4%，网易、腾讯涨超3%。关于房地产，证监会召开会议强调，大力支持房地产市场平稳发展。全面落实改善优质房企资产负债表计划，继续实施民企债券融资专项支持计划和支持工具，更好推进央地合作增信共同支持民营房企发债。落实好已出台的房企股权融资政策，允许符合条件的房企“借壳”已上市房企，允许房地产和建筑等密切相关行业上市公司实施涉房重组。加快打造保障性租赁住房REITs板块。央行召开会议强调，支持刚性和改善性住房需求，引导金融机构支持房地产行业重组并购，推动防范化解优质头部房企风险，改善头部房企资产负债状况。受益于此，内房股高开高走。融信中国涨超22%，正荣地产涨超8%。科技股、内房股、餐饮等消费股的大涨带动港股三大指数涨幅亮眼。这是因为金融地产、科技等行业在恒指成分股的占比较大。根据恒指三季度的季检结果显示，从行业划分来看，金融业在恒指中的比重从34.66%降至33.98%，公用事业由3.21%降至3.13%，地产由7.03%升至7.05%，工商业由55.1%升至55.84%。来源：中金证券此次调整后，地产建筑业和非必需性和必需性消费的覆盖度分别从48.1%和48.4%提升至50.5%和50.7%。；恒指新经济市值占比达到48%。因此微观来看，有关于新经济、地产、金融等方面的消息对港股的走势影响较大。后续投资价值怎么看？整体上看，在海外流动性、国内经济状况、宏观政策因素等多方面预期转好的情况下，大多数券商分析师认为港股性价比凸显，料明年走势充满希望。平安证券分析指，明年恒指高点在23000-25000之间，推荐逢低配置港股优质资产。国海证券认为在内部政策释放利好信号、美联储加息影响将逐渐减弱的情况下，看好外围因素回暖、后续疫情和宏观边际改善后的互联网业绩提振，维持行业“推荐”评级。浙商证券则表示，23年是互联网版块戴维斯双击之年，利润端和估值端都将有超预期表现。此外，外资机构同样建议超配中国股市。小摩预计2023年MSCI中国指数的上涨空间为10%；高盛则认为中国股票将在2023年跑赢其他市场，建议增持。大摩更是时隔近两年再次看多中国股市，将恒指的目标点位从18200点提高到21200点。","news_type":1,"symbols_score_info":{"513600":0.6,"HHImain":0.6,"MCHmain":0.6,"HSTECH":0.9,"02833":0.6,"HSI":1}},"isVote":1,"tweetType":1,"viewCount":2159,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}