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小小小橘子

小小小橘子

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小小小橘子

2021-05-21

$Tilray Inc.(TLRY)$j

小小小橘子

2022-01-22

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小小小橘子

2021-09-05

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Reminder: Due to Labor Day, U.S. stocks will be closed for one day on September 6

小小小橘子

2021-05-11

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小小小橘子

2022-05-15

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The latest statements from economists such as Dalio and Justin Yifu Lin! How is China's economy going?

小小小橘子

2022-03-26

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If we don't make enlarged moves, Nio will be caught up

小小小橘子

2021-08-06

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小小小橘子

2021-05-20

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Shenzhen SEG Plaza is suspected of shaking again, management office: high-rise merchants have been notified to go downstairs

小小小橘子

2021-05-13

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Tiger Securities was included in the MSCI China All-Stock Index!

小小小橘子

2021-05-06

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A piece of U.S. news caused Chinese vaccine stocks to plummet. What happened?

小小小橘子

2021-05-04

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小小小橘子

2021-02-17

$Digital Ally(DGLY)$nnnnnn

小小小橘子

2022-09-04

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小小小橘子

2022-09-02

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Chinese concept stock Yingxi Group triggered a circuit breaker after falling more than 20% on the third day of listing

小小小橘子

2022-05-29

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Internet reports of massive layoffs, XPeng Motors responded: adjustment of a small number of related employees

小小小橘子

2022-04-30

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"Big Liquidation of the Century" Suspense: Did Bill Hwang manipulate the stock price?

小小小橘子

2022-04-04

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QFII's latest position exposure! The overall style is biased towards small and medium-

小小小橘子

2022-04-03

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Tesla delivers more than 310,000 vehicles in the first quarter, a record high

小小小橘子

2022-03-24

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Three Catalysts for Investing in Nio: Delivery, Going to Sea, Growth Guidance

小小小橘子

2021-12-25

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Musk: A large number of Tesla cars will be delivered before the end of the year

Go to Tiger App to see more news

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events in the coming week, share your trading plans!","htmlText":"Hi, Tigers!Welcome to&nbsp;Daily Discussion! This is the place for you to share your trading ideas and win coins!<a href=\"https://ttm.financial/RN?name=RNTheme&amp;page=/theme/special/discussion&amp;rndata={&quot;themeId&quot;:&quot;470d3ab575ca43caaed8156645b7ccbe&quot;,&quot;type&quot;:3}\" target=\"_blank\">Click here to join the Topic &amp; Win coins &gt;&gt;</a>[Rewards]You will be given&nbsp;50 Tiger Coins according to the quality &amp; original of the post(NOTE: Comments posted under this article WILL NOT be counted)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.You will be given&nbsp;5 Tiger coins&nbsp;if you tag more than 3 friends in the comment areaMeanwhile, we will be listing the stocks mentioned by those selected Tig","listText":"Hi, Tigers!Welcome to&nbsp;Daily Discussion! This is the place for you to share your trading ideas and win coins!<a href=\"https://ttm.financial/RN?name=RNTheme&amp;page=/theme/special/discussion&amp;rndata={&quot;themeId&quot;:&quot;470d3ab575ca43caaed8156645b7ccbe&quot;,&quot;type&quot;:3}\" target=\"_blank\">Click here to join the Topic &amp; Win coins &gt;&gt;</a>[Rewards]You will be given&nbsp;50 Tiger Coins according to the quality &amp; original of the post(NOTE: Comments posted under this article WILL NOT be counted)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.You will be given&nbsp;5 Tiger coins&nbsp;if you tag more than 3 friends in the comment areaMeanwhile, we will be listing the stocks mentioned by those selected Tig","text":"Hi, Tigers!Welcome to Daily Discussion! This is the place for you to share your trading ideas and win coins!Click here to join the Topic & Win coins >>[Rewards]You will be given 50 Tiger Coins according to the quality & original of the post(NOTE: Comments posted under this article WILL NOT be counted) 2.You will be given 5 Tiger coins if you tag more than 3 friends in the comment areaMeanwhile, we will be listing the stocks mentioned by those selected Tig","images":[{"img":"https://community-static.tradeup.com/news/4b0899182972b373f96cf6d4bf40a820","width":"-1","height":"-1"},{"img":"https://community-static.tradeup.com/news/1f448f02904920485f3f877f1fa37413","width":"-1","height":"-1"},{"img":"https://community-static.tradeup.com/news/e961ee203328d401936b5a8ebda60e0e","width":"-1","height":"-1"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9957405876","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":7,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":2288,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9925757963,"gmtCreate":1672116544952,"gmtModify":1676538636976,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"j","listText":"j","text":"j","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9925757963","repostId":"621162084","repostType":1,"repost":{"id":621162084,"gmtCreate":1672114675000,"gmtModify":1676538636876,"author":{"id":"3577852034187700","authorId":"3577852034187700","name":"经济观察报","avatar":"https://static.tigerbbs.com/f64ac2aa784ef0f271ddeb45c7dc72bc","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3577852034187700","idStr":"3577852034187700"},"themes":[],"title":"婚姻關係存續期間，一方父母爲子女購房出資的性質認定","htmlText":"王玉格/文 在當前高房價的背景下，因爲部分子女經濟條件有限，其父母在其購房時出資屬於常態，但是實踐中對於父母爲子女購房出資的性質屬於借貸還是贈與，各方可能存在着爭議。尤其是在子女婚姻關係破裂，面臨分割作爲夫妻共同財產的房屋時，父母、其子女及其子女配偶之間的矛盾尤爲突出、糾紛頻發。 從父母的角度講，其出資的本意是爲子女解決或改善居住條件，希望子女生活更加幸福，但在面臨子女婚姻關係破裂，要分割父母出資的房屋時，這種財產分割實際上還暗含了對父母財產的分割，可能會造成父母資產大幅度縮水甚至負債，反而違背了父母的出資本意。 從子女配偶的角度講，父母基於對子女的親情，往往自願出資爲子女購置房屋，大多數父母出資的目的是希望讓子女及其配偶能夠生活得更加幸福，而不是日後要回這筆出資。 在日常生活中，基於父母及子女配偶的親密關係，很少有通過事先協議的方式明確出資性質以及房屋產權歸屬的情況，大部分均爲沒有約定，或者約定不明。那麼當子女婚姻關係破裂，需要分割夫妻共同財產時，父母爲子女購房出資的性質到底如何認定，如何把握審判事務中的爭議焦點與判斷標準，讓我們通過以下幾個案例進行分析總結。 案例1：李某與劉某父等民間借貸糾紛一案（案號：(2019)京民申2635號） 再審申請人（一審被告、二審上訴人）：李某。 被申請人（一審原告、二審被上訴人）：劉某父。 被申請人（一審原告、二審被上訴人）：劉某母。 一審被告：劉某。 案情梳理 1.被申請人劉某父與劉某母系夫妻關係。再審申請人李某與一審被告劉某系夫妻關係。劉某系劉某父與劉某母之子，李某系劉某父與劉某母之兒媳。 2.2014年8月30日，李某與劉某登記結婚，於2016年舉辦結婚典禮後不久，雙方夫妻感情破裂，準備離婚。 3.李某與劉某婚姻關係存續期間，劉某父與劉某母爲李某與劉某購房出資137萬餘元。 4.截至本案再審審查程序中雙方尚處於婚姻關係存續狀態。","listText":"王玉格/文 在當前高房價的背景下，因爲部分子女經濟條件有限，其父母在其購房時出資屬於常態，但是實踐中對於父母爲子女購房出資的性質屬於借貸還是贈與，各方可能存在着爭議。尤其是在子女婚姻關係破裂，面臨分割作爲夫妻共同財產的房屋時，父母、其子女及其子女配偶之間的矛盾尤爲突出、糾紛頻發。 從父母的角度講，其出資的本意是爲子女解決或改善居住條件，希望子女生活更加幸福，但在面臨子女婚姻關係破裂，要分割父母出資的房屋時，這種財產分割實際上還暗含了對父母財產的分割，可能會造成父母資產大幅度縮水甚至負債，反而違背了父母的出資本意。 從子女配偶的角度講，父母基於對子女的親情，往往自願出資爲子女購置房屋，大多數父母出資的目的是希望讓子女及其配偶能夠生活得更加幸福，而不是日後要回這筆出資。 在日常生活中，基於父母及子女配偶的親密關係，很少有通過事先協議的方式明確出資性質以及房屋產權歸屬的情況，大部分均爲沒有約定，或者約定不明。那麼當子女婚姻關係破裂，需要分割夫妻共同財產時，父母爲子女購房出資的性質到底如何認定，如何把握審判事務中的爭議焦點與判斷標準，讓我們通過以下幾個案例進行分析總結。 案例1：李某與劉某父等民間借貸糾紛一案（案號：(2019)京民申2635號） 再審申請人（一審被告、二審上訴人）：李某。 被申請人（一審原告、二審被上訴人）：劉某父。 被申請人（一審原告、二審被上訴人）：劉某母。 一審被告：劉某。 案情梳理 1.被申請人劉某父與劉某母系夫妻關係。再審申請人李某與一審被告劉某系夫妻關係。劉某系劉某父與劉某母之子，李某系劉某父與劉某母之兒媳。 2.2014年8月30日，李某與劉某登記結婚，於2016年舉辦結婚典禮後不久，雙方夫妻感情破裂，準備離婚。 3.李某與劉某婚姻關係存續期間，劉某父與劉某母爲李某與劉某購房出資137萬餘元。 4.截至本案再審審查程序中雙方尚處於婚姻關係存續狀態。","text":"王玉格/文 在當前高房價的背景下，因爲部分子女經濟條件有限，其父母在其購房時出資屬於常態，但是實踐中對於父母爲子女購房出資的性質屬於借貸還是贈與，各方可能存在着爭議。尤其是在子女婚姻關係破裂，面臨分割作爲夫妻共同財產的房屋時，父母、其子女及其子女配偶之間的矛盾尤爲突出、糾紛頻發。 從父母的角度講，其出資的本意是爲子女解決或改善居住條件，希望子女生活更加幸福，但在面臨子女婚姻關係破裂，要分割父母出資的房屋時，這種財產分割實際上還暗含了對父母財產的分割，可能會造成父母資產大幅度縮水甚至負債，反而違背了父母的出資本意。 從子女配偶的角度講，父母基於對子女的親情，往往自願出資爲子女購置房屋，大多數父母出資的目的是希望讓子女及其配偶能夠生活得更加幸福，而不是日後要回這筆出資。 在日常生活中，基於父母及子女配偶的親密關係，很少有通過事先協議的方式明確出資性質以及房屋產權歸屬的情況，大部分均爲沒有約定，或者約定不明。那麼當子女婚姻關係破裂，需要分割夫妻共同財產時，父母爲子女購房出資的性質到底如何認定，如何把握審判事務中的爭議焦點與判斷標準，讓我們通過以下幾個案例進行分析總結。 案例1：李某與劉某父等民間借貸糾紛一案（案號：(2019)京民申2635號） 再審申請人（一審被告、二審上訴人）：李某。 被申請人（一審原告、二審被上訴人）：劉某父。 被申請人（一審原告、二審被上訴人）：劉某母。 一審被告：劉某。 案情梳理 1.被申請人劉某父與劉某母系夫妻關係。再審申請人李某與一審被告劉某系夫妻關係。劉某系劉某父與劉某母之子，李某系劉某父與劉某母之兒媳。 2.2014年8月30日，李某與劉某登記結婚，於2016年舉辦結婚典禮後不久，雙方夫妻感情破裂，準備離婚。 3.李某與劉某婚姻關係存續期間，劉某父與劉某母爲李某與劉某購房出資137萬餘元。 4.截至本案再審審查程序中雙方尚處於婚姻關係存續狀態。","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/621162084","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":2547,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9926417838,"gmtCreate":1671605458324,"gmtModify":1676538562917,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"v","listText":"v","text":"v","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9926417838","repostId":"2293399174","repostType":4,"isVote":1,"tweetType":1,"viewCount":2641,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9921125299,"gmtCreate":1671004883012,"gmtModify":1676538474462,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9921125299","repostId":"1112200348","repostType":4,"isVote":1,"tweetType":1,"viewCount":2426,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9923680710,"gmtCreate":1670848540330,"gmtModify":1676538445139,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/TSM\">$台积电(TSM)$&nbsp;</a><v-v data-views=\"1\"></v-v>","listText":"<a href=\"https://ttm.financial/S/TSM\">$台积电(TSM)$&nbsp;</a><v-v data-views=\"1\"></v-v>","text":"$台积电(TSM)$","images":[{"img":"https://community-static.tradeup.com/news/017c6e66791b6784ac11d45f2ce74635","width":"1125","height":"6256"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9923680710","isVote":1,"tweetType":1,"viewCount":2575,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9929766043,"gmtCreate":1670733441982,"gmtModify":1676538425562,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"H","listText":"H","text":"H","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9929766043","repostId":"1156255334","repostType":4,"repost":{"id":"1156255334","kind":"news","pubTimestamp":1670721209,"share":"https://ttm.financial/m/news/1156255334?lang=en_US&edition=fundamental","pubTime":"2022-12-11 09:13","market":"us","language":"zh","title":"Li Xiang's trillion-dollar automobile empire dream begins with organizational change","url":"https://stock-news.laohu8.com/highlight/detail?id=1156255334","media":"赛博汽车","summary":"随着第三季度财报的发布，理想汽车成立以来最深刻的一场变革，正式拉开了大幕。这场变革的核心，是理想垂直职能组织的管理模式向矩阵型组织的升级。按照计划，在接下来的三年中，理想将在原有的两个横向实体部门的基","content":"<p><html><head></head><body>With the release of the third quarter financial report, the most profound change since the founding of Li Auto officially kicked off.</p><p>The core of this change is the upgrading of the management mode of the ideal vertical functional organization to a matrix organization. As planned,<b>In the next three years, Ideal will add five new horizontal entity departments on the basis of the original two horizontal entity departments, and transform the management process to integration.</b></p><p>Li Xiang bluntly said that next year. Ideal will enter the stage of annual revenue of 100 billion yuan, and the growth of volume requires a more appropriate organizational structure and process to adapt.</p><p>At the same time, Ideal's management has also made a series of adjustments,<b>Shen Yanan will resign as president and withdraw from the board of directors, and he will subsequently join the Li Auto Process Change Committee.</b>Judging from the disclosed news, Shen Yanan will eventually leave his ideal completely.</p><p><b>Shen Yanan is replaced as president by Ma Donghui, an ideal former chief engineer with a background in vehicle engineering. Xie Yan, who has experience in underlying software architecture development, is the CTO position in charge of research and development.</b></p><p>The change of senior management and the technical faction at the helm are the most obvious features. From the background of the above two people, we can also get a glimpse of the key directions of the ideal future R&D work.</p><p><b>Transformation of ideal organizational structure, from vertical management to matrix management</b></p><p>In an open letter to internal employees, Li Xiang announced that Ideal would fully launch the matrix organizational upgrade, and introduced the details of this organizational reform.</p><p><b>To sum up in one sentence, it is to transform the original vertical functional management into a matrix organizational management mode.</b></p><p>Specifically, Ideal will be based on the original two horizontal entity departments of the strategy department and the product department.<b>According to the specific business, five new entity departments, including the commercial department, the supply department, the process department, the organization department and the financial department, were added. These seven horizontal entity departments form an ideal organizational matrix.</b></p><p>Li Xiang said at the third quarter financial report meeting that the biggest feature of the matrix organization management model is that it can ensure the quality management of the entire process of the enterprise. Let's use an example to understand:</p><p>\"The horizontal team is responsible for the planning, operation and repair of paths, while the task of the vertical team is to build, drive and operate cars. High-quality roads and high-level fleets can create a virtuous circle in business.\"</p><p>While dividing the matrix organization, the internal management process of the matrix also has charters.<b>In the next three years, Ideal will gradually implement seven first-level processes: DSTE (from strategy to execution), IPD (integrated product development), IPMS (integrated product marketing and sales), ISC (integrated supply chain), BT&IT, LTD and IFS, forming the minimum operational closed loop of ideal matrix organization.</b></p><p>Many management processes adopted by Ideal can also be found in many large companies. For example, Huawei introduced a series of management methodologies such as DSTE, IPD, IPMS, and ISC from IBM around 2000 when its business began to take off.</p><p>Looking back at the ideal matrix organizational form, it has certain similarities with the organizational adjustment of XPeng Automobile not long ago. It divides functional sectors through horizontal matrix organization and cooperates with vertical business lines.</p><p>However, unlike XPeng's line of fire reform,<b>Ideally, this adjustment is based on the experience of small-scale pilot projects and then rolled out on a large scale.</b></p><p>Li Xiang disclosed that as early as two years ago, Ideal first used IPD for product development internally. At present, Ideal's second-generation models, including L9, L8, L7, etc., are all products with this centralized product development process.</p><p>Judging from the market feedback that Ideal L9 exceeded 10,000 in the first month of delivery, Ideal's early pilot has indeed achieved results.</p><p>Therefore, after two years of small-scale pilot projects, Ideal will finally roll out organizational reform on a large scale when it is about to enter 2023.</p><p>Of course, the timing of ideal organizational adjustment is not only due to the results of the previous pilot projects, but more importantly, Li Xiang's optimistic judgment on the future prospects.</p><p><b>Li Xiang believes that Li Auto will enter the stage of annual income of 100 billion yuan by next year. At this stage, the ideal has gone through the stage from 0-1 to the stage from 1-10.</b></p><p><b>At this stage, any poor major decisions and low-quality products delivered will cause a devastating blow to the company. The characteristics of the whole-process quality management of the matrix organization can make Ideal avoid the pitfalls in the growth process.</b></p><p><b>Focus on ideal personnel changes, technical managers at the helm</b></p><p>While carrying out organizational reforms, the ideal management has also carried out a series of personnel adjustments. According to the official news of ideal, this adjustment mainly involves three senior executives.</p><p><img src=\"https://static.tigerbbs.com/a920023e9c13f2c6bbe321a144fc4083\" tg-width=\"1400\" tg-height=\"926\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Li Auto co-founder and current president Shen Yanan</p><p><b>First of all, Shen Yanan, the co-founder and current president of Ideal, will step down as president and the board of directors from January 1 next year. He will join the process change committee in the follow-up. After assisting in the organizational change, Shen Yanan will completely leave the ideal.</b></p><p>In fact, as one of the ideal joint creations, the news that Shen Yanan left Ideal is not surprising. At the beginning of September this year, Shen Yanan sold ideal stocks twice in the Hong Kong stock market in less than a week, reducing his holdings by a total of 1 million shares, reducing his shareholding ratio from 1.74% to 1.71%, and cashing out a total of nearly 100 million yuan.</p><p>Although the shareholding ratio has not decreased much, it was at the time when Ideal ONE stopped production, the delivery data of broken bones was disclosed in August, and the delivery of the new product Ideal L9 had just started, and the market performance was still unclear.</p><p>As the No. 2 person in the company, choosing to reduce stock holdings at this sensitive time can't help but make people think twice. Perhaps at that time, Shen Yanan had already made plans to quit the core management and leave his ideal.</p><p><b>Shen Yanan stepped down, and the vacant president position was handed over to Ma Donghui, another co-founder of Ideal and the current chief engineer of the company, who is responsible for the R&D and supply group as a whole. At the same time, Ma Donghui also joined the board of directors of Ideal.</b></p><p>It is reported that after Wang Kai, the former CTO of Ideal, left at the beginning of this year, Ma Donghui also assumed the responsibility of CTO. After taking office as president this time, the position of CTO was held by Xie Yan, the former senior vice president, and was solely responsible for the research and development of systems and computing groups.</p><p>In addition to the adjustment of positions, the backgrounds of Ma Donghui and Xie Yan are also worth sorting out.</p><p><img src=\"https://static.tigerbbs.com/d87615b1b281459d10d51521fcaf538b\" tg-width=\"1399\" tg-height=\"934\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Ma Donghui, co-founder and current chief engineer of Li Auto</p><p>According to public information, Ma Donghui graduated from Wuhan University of Technology in 1999 majoring in power engineering, and then obtained a master's degree in mechanical manufacturing and automation from Shanghai University in 2003.</p><p>Since the establishment of Ideal, Ma Donghui has served as the chief engineer of the company, mainly responsible for the work of the Li Auto product research and development group, including modeling design, vehicle electric, intelligent space, intelligent driving, computing power architecture, R&D operations and other businesses module.</p><p>Before joining Ideal, Ma Donghui served as the director of the research institute of Sany Heavy Industry Body Co., Ltd. and had rich experience in vehicle research and development.</p><p><img src=\"https://static.tigerbbs.com/0665c98a2f5503d4aad68e3bcdc3260d\" tg-width=\"1400\" tg-height=\"928\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Xie Yan, the current head of Li Auto's system research and development department</p><p>Yan Xie received his bachelor's degree in information and electronic engineering from Zhejiang University in 2001 and his master's degree in computer engineering from the University of Delaware in 2003.</p><p>Before joining Ideal, Xie Yan served as the chief architect and rotating general manager of Alibaba's AliOS business group, responsible for the technical architecture design and R&D management of the mobile operating system. In 2019, Xie Yandi joined Huawei after leaving Alibaba and was responsible for the research and development of Huawei HarmonyOS.</p><p>Looking at Xie Yan's academic background and professional experience, we can understand that this person has rich experience in the underlying operating system of automotive software.</p><p><b>One is the whole vehicle and the other is software. Although they have different strengths, one thing in common reflected by this ideal personnel adjustment is that they are both technical backgrounds.</b></p><p><b>In other words, after Shen Yanan, who has a background in supply chain management, leaves, Ideal will be sent by technology at the helm.</b></p><p><b>This also means that ideal technology research and development work will be placed at an unprecedented height. Ideal's R&D layout for a long period of time from now to the future is also clearer in Li Xiang's speech at the financial report meeting.</b></p><p>Li Xiang said that at present, the ideal R&D work is mainly divided into three sections, one is product research and development, that is, the R&D and design of new models; The second is the research and development of technology platforms, including a new generation of extended-range electric platforms, high-voltage pure electric platforms, intelligent cockpit platforms, intelligent driving platforms, etc.; The third is the research and development of the underlying system, which is mainly the infrastructure construction of the underlying software.</p><p><b>In terms of the priority of investment in the three major R&D sectors, the technology platform currently invests the most resources, followed by the research and development of vehicle models and underlying systems.</b></p><p>This R&D layout logic is in line with the current ideal status quo.</p><p>First, from a product perspective, Ideal is currently in a state of rapid expansion of its product matrix, which also means that Ideal needs to improve the reuse rate of platform technology on different models and improve development efficiency through platformization.</p><p>Second, Ideal is currently at a critical node in breaking into the field of pure electric vehicles, and it is an inevitable result to raise the research and development of high-voltage pure electric platforms to an advantageous position.</p><p>According to the plan, Ideal's first pure electric vehicle will be delivered next year. This pure electric vehicle will be equipped with 800V high-voltage pure electric platform components, including power chips, power modules, electronic controls, motors, transmission systems, etc., all of which will be self-developed by Ideal.</p><p>At the same time, Ideal previously stated in the prospectus that with the listing of Ideal pure electric vehicles, the company will also develop and build its own high-power charging network.</p><p>For the ideal of starting and growing by extending the range, whether it can achieve the same market recognition and achievements on the pure electric track, the first product is crucial.</p><p>However, Li Xiang also said that in the long run, the research and development of the underlying system may exceed the research and development of the vehicle model. In the ideal plan, this part includes the underlying OS, supercomputing platform, cloud service, IT system, computing platform support, etc., covering almost all automotive software development.</p><p>In addition, just in May this year, Ideal also established a chip design company to lay out the chip sector.</p><p>According to the above arrangement, it can be seen that the ideal entire R&D layout can actually be divided into two stages:</p><p><b>First of all, the current goal is to form platform-based reuse capabilities in four fields: range extension, pure electric, cockpit and smart driving, and to maximize the scope of self-research and enhance ideal vertical integration capabilities.</b></p><p><b>Secondly, for a long time to come, in terms of intelligence, we must build a full-stack capability from hardware to software underlying architecture, and then to upper-layer algorithm capabilities, so as to control the autonomy of software-defined cars.</b></p><p>Looking back on Ideal's journey along the way, there have been sales miracles and product reputation, but compared with Nio and XPeng, it has also left criticism for insufficient technical investment.</p><p>With the growth of Ideal's volume, Ideal now has to make up for all the lessons missed in R&D, and take the path that Nio and XPeng have taken again, and even want to go deeper and further.</p><p>Of course, the realization of the blueprint is also accompanied by the payment of real money. In terms of research and development expenses, Ideal has been increasing visibly in recent quarters.</p><p><img src=\"https://static.tigerbbs.com/6ce1e29942d721ce7b1a4d6216d2d8f0\" tg-width=\"1399\" tg-height=\"831\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>The financial report shows that Ideal's R&D expenditure surpassed that of XPeng in the first quarter of this year. By the third quarter of this year, this figure had increased to 1.8 billion yuan, reaching the highest point in Ideal's history.</b></p><p>If nothing else happens, this high point will be constantly refreshed in the future. According to Li Tie, CFO of Ideal, Ideal's R&D expenditure this year is about 7 billion yuan, and this figure will further increase to 10-12 billion yuan in 2023.</p><p><b>R&D investment reaches its highest point, and sales guidance for the fourth quarter is optimistic</b></p><p>Finally, let's take a look at Ideal's operating performance in the third quarter of this year.</p><p>The financial report shows that Ideal's revenue in the third quarter was 9.34 billion yuan, a year-on-year increase of 20.2% and an increase of 7% from the previous quarter. Among them, automobile business revenue was 9.05 billion yuan, a year-on-year increase of 25% and a month-on-month increase of 6.6%. The reason for the revenue growth is the higher average selling price of Ideal L9.</p><p>In terms of delivery, in the third quarter, Ideal delivered a total of 26,524 new cars, an increase of 5.6% over the same period last year and a decrease of 8% from the previous quarter. The decline in deliveries was mainly due to the large-scale production reduction of Ideal ONE in August.</p><p><b>However, judging from the follow-up delivery trend, although Ideal's delivery broke bones in August, it also smoothly completed the switch between old and new products, and gradually returned to a high level in the following three months. By November, Ideal had 15,034 vehicles. The delivery results broke its own monthly delivery record.</b></p><p><img src=\"https://static.tigerbbs.com/d8fac9a6c225e1f8f05c3db87bfd25f6\" tg-width=\"1399\" tg-height=\"831\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>In the third quarter, Ideal's cost of sales was 8.16 billion yuan, an increase of 36.8% over the same period last year and an increase of 19.1% over the second quarter. Compared with the increase in revenue, the ideal cost of sales has increased disproportionately.<b>Ideal said that this is mainly due to the increase in average cost of sales caused by the delivery of the new product Ideal L9, coupled with the launch of L8, which led to the loss of inventory preparation and purchase commitment of Ideal ONE.</b></p><p>As a result, this also caused Ideal's gross profit margin this quarter to drop sharply from 21.5% in the previous quarter to 12.7%, the lowest point since the US stock market was listed.</p><p><img src=\"https://static.tigerbbs.com/c6ee523cdcbc1341bff1199ad2a23250\" tg-width=\"1398\" tg-height=\"830\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>In terms of expenses, Ideal's R&D expenditure in this quarter was 1.8 billion yuan, a year-on-year increase of 103% and an increase of 17.8% from the previous quarter. Selling, general and administrative expenses were 1.51 billion yuan, a year-on-year increase of 47.6% and a month-on-month increase of 13.8%.</p><p>In terms of losses, Ideal's net loss in the third quarter was 1.65 billion yuan, an increase of 157% from the previous quarter, and the loss expanded significantly.</p><p>As of the end of the third quarter of this year, Ideal's cash and cash equivalents were 55.83 billion yuan, an increase of 2.18 billion yuan from the end of the previous quarter.</p><p>The above is the third quarter report card handed over by Ideal. There are bright spots, but due to the impact of Ideal ONE's production suspension, the problem of profitability is also not small.</p><p>However, Ideal is obviously very optimistic about the guidance of future operating conditions.</p><p>The financial report shows that Ideal's delivery in the fourth quarter of this year is expected to be 45,000-48,000 vehicles, and the revenue scale during the same period will increase to 16.51-17.61 billion yuan.</p><p>At the same time, with the further expansion of the delivery scale of L9 and L8, Ideal also gives a positive expectation for next year. Ideal said that by 2023, the steady-state monthly delivery volume of L9 can reach 8,000-11,000 vehicles, and the steady-state monthly sales volume of L8 It is 10,000-14,000 vehicles.</p><p>After calculation, Ideal's steady-state monthly delivery volume can reach 18,000-25,000 vehicles next year. In addition, L7 will also be put into delivery in the near future, and this data is expected to further increase.</p><p>From this point of view, Li Xiang's small goal of earning 100 billion yuan next year is really not just casual talk.</p><p></body></html></p>","source":"lsy1666839543395","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Li Xiang's trillion-dollar automobile empire dream begins with organizational change</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLi Xiang's trillion-dollar automobile empire dream begins with organizational change\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">赛博汽车</strong><span class=\"h-time small\">2022-12-11 09:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>With the release of the third quarter financial report, the most profound change since the founding of Li Auto officially kicked off.</p><p>The core of this change is the upgrading of the management mode of the ideal vertical functional organization to a matrix organization. As planned,<b>In the next three years, Ideal will add five new horizontal entity departments on the basis of the original two horizontal entity departments, and transform the management process to integration.</b></p><p>Li Xiang bluntly said that next year. Ideal will enter the stage of annual revenue of 100 billion yuan, and the growth of volume requires a more appropriate organizational structure and process to adapt.</p><p>At the same time, Ideal's management has also made a series of adjustments,<b>Shen Yanan will resign as president and withdraw from the board of directors, and he will subsequently join the Li Auto Process Change Committee.</b>Judging from the disclosed news, Shen Yanan will eventually leave his ideal completely.</p><p><b>Shen Yanan is replaced as president by Ma Donghui, an ideal former chief engineer with a background in vehicle engineering. Xie Yan, who has experience in underlying software architecture development, is the CTO position in charge of research and development.</b></p><p>The change of senior management and the technical faction at the helm are the most obvious features. From the background of the above two people, we can also get a glimpse of the key directions of the ideal future R&D work.</p><p><b>Transformation of ideal organizational structure, from vertical management to matrix management</b></p><p>In an open letter to internal employees, Li Xiang announced that Ideal would fully launch the matrix organizational upgrade, and introduced the details of this organizational reform.</p><p><b>To sum up in one sentence, it is to transform the original vertical functional management into a matrix organizational management mode.</b></p><p>Specifically, Ideal will be based on the original two horizontal entity departments of the strategy department and the product department.<b>According to the specific business, five new entity departments, including the commercial department, the supply department, the process department, the organization department and the financial department, were added. These seven horizontal entity departments form an ideal organizational matrix.</b></p><p>Li Xiang said at the third quarter financial report meeting that the biggest feature of the matrix organization management model is that it can ensure the quality management of the entire process of the enterprise. Let's use an example to understand:</p><p>\"The horizontal team is responsible for the planning, operation and repair of paths, while the task of the vertical team is to build, drive and operate cars. High-quality roads and high-level fleets can create a virtuous circle in business.\"</p><p>While dividing the matrix organization, the internal management process of the matrix also has charters.<b>In the next three years, Ideal will gradually implement seven first-level processes: DSTE (from strategy to execution), IPD (integrated product development), IPMS (integrated product marketing and sales), ISC (integrated supply chain), BT&IT, LTD and IFS, forming the minimum operational closed loop of ideal matrix organization.</b></p><p>Many management processes adopted by Ideal can also be found in many large companies. For example, Huawei introduced a series of management methodologies such as DSTE, IPD, IPMS, and ISC from IBM around 2000 when its business began to take off.</p><p>Looking back at the ideal matrix organizational form, it has certain similarities with the organizational adjustment of XPeng Automobile not long ago. It divides functional sectors through horizontal matrix organization and cooperates with vertical business lines.</p><p>However, unlike XPeng's line of fire reform,<b>Ideally, this adjustment is based on the experience of small-scale pilot projects and then rolled out on a large scale.</b></p><p>Li Xiang disclosed that as early as two years ago, Ideal first used IPD for product development internally. At present, Ideal's second-generation models, including L9, L8, L7, etc., are all products with this centralized product development process.</p><p>Judging from the market feedback that Ideal L9 exceeded 10,000 in the first month of delivery, Ideal's early pilot has indeed achieved results.</p><p>Therefore, after two years of small-scale pilot projects, Ideal will finally roll out organizational reform on a large scale when it is about to enter 2023.</p><p>Of course, the timing of ideal organizational adjustment is not only due to the results of the previous pilot projects, but more importantly, Li Xiang's optimistic judgment on the future prospects.</p><p><b>Li Xiang believes that Li Auto will enter the stage of annual income of 100 billion yuan by next year. At this stage, the ideal has gone through the stage from 0-1 to the stage from 1-10.</b></p><p><b>At this stage, any poor major decisions and low-quality products delivered will cause a devastating blow to the company. The characteristics of the whole-process quality management of the matrix organization can make Ideal avoid the pitfalls in the growth process.</b></p><p><b>Focus on ideal personnel changes, technical managers at the helm</b></p><p>While carrying out organizational reforms, the ideal management has also carried out a series of personnel adjustments. According to the official news of ideal, this adjustment mainly involves three senior executives.</p><p><img src=\"https://static.tigerbbs.com/a920023e9c13f2c6bbe321a144fc4083\" tg-width=\"1400\" tg-height=\"926\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Li Auto co-founder and current president Shen Yanan</p><p><b>First of all, Shen Yanan, the co-founder and current president of Ideal, will step down as president and the board of directors from January 1 next year. He will join the process change committee in the follow-up. After assisting in the organizational change, Shen Yanan will completely leave the ideal.</b></p><p>In fact, as one of the ideal joint creations, the news that Shen Yanan left Ideal is not surprising. At the beginning of September this year, Shen Yanan sold ideal stocks twice in the Hong Kong stock market in less than a week, reducing his holdings by a total of 1 million shares, reducing his shareholding ratio from 1.74% to 1.71%, and cashing out a total of nearly 100 million yuan.</p><p>Although the shareholding ratio has not decreased much, it was at the time when Ideal ONE stopped production, the delivery data of broken bones was disclosed in August, and the delivery of the new product Ideal L9 had just started, and the market performance was still unclear.</p><p>As the No. 2 person in the company, choosing to reduce stock holdings at this sensitive time can't help but make people think twice. Perhaps at that time, Shen Yanan had already made plans to quit the core management and leave his ideal.</p><p><b>Shen Yanan stepped down, and the vacant president position was handed over to Ma Donghui, another co-founder of Ideal and the current chief engineer of the company, who is responsible for the R&D and supply group as a whole. At the same time, Ma Donghui also joined the board of directors of Ideal.</b></p><p>It is reported that after Wang Kai, the former CTO of Ideal, left at the beginning of this year, Ma Donghui also assumed the responsibility of CTO. After taking office as president this time, the position of CTO was held by Xie Yan, the former senior vice president, and was solely responsible for the research and development of systems and computing groups.</p><p>In addition to the adjustment of positions, the backgrounds of Ma Donghui and Xie Yan are also worth sorting out.</p><p><img src=\"https://static.tigerbbs.com/d87615b1b281459d10d51521fcaf538b\" tg-width=\"1399\" tg-height=\"934\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Ma Donghui, co-founder and current chief engineer of Li Auto</p><p>According to public information, Ma Donghui graduated from Wuhan University of Technology in 1999 majoring in power engineering, and then obtained a master's degree in mechanical manufacturing and automation from Shanghai University in 2003.</p><p>Since the establishment of Ideal, Ma Donghui has served as the chief engineer of the company, mainly responsible for the work of the Li Auto product research and development group, including modeling design, vehicle electric, intelligent space, intelligent driving, computing power architecture, R&D operations and other businesses module.</p><p>Before joining Ideal, Ma Donghui served as the director of the research institute of Sany Heavy Industry Body Co., Ltd. and had rich experience in vehicle research and development.</p><p><img src=\"https://static.tigerbbs.com/0665c98a2f5503d4aad68e3bcdc3260d\" tg-width=\"1400\" tg-height=\"928\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Xie Yan, the current head of Li Auto's system research and development department</p><p>Yan Xie received his bachelor's degree in information and electronic engineering from Zhejiang University in 2001 and his master's degree in computer engineering from the University of Delaware in 2003.</p><p>Before joining Ideal, Xie Yan served as the chief architect and rotating general manager of Alibaba's AliOS business group, responsible for the technical architecture design and R&D management of the mobile operating system. In 2019, Xie Yandi joined Huawei after leaving Alibaba and was responsible for the research and development of Huawei HarmonyOS.</p><p>Looking at Xie Yan's academic background and professional experience, we can understand that this person has rich experience in the underlying operating system of automotive software.</p><p><b>One is the whole vehicle and the other is software. Although they have different strengths, one thing in common reflected by this ideal personnel adjustment is that they are both technical backgrounds.</b></p><p><b>In other words, after Shen Yanan, who has a background in supply chain management, leaves, Ideal will be sent by technology at the helm.</b></p><p><b>This also means that ideal technology research and development work will be placed at an unprecedented height. Ideal's R&D layout for a long period of time from now to the future is also clearer in Li Xiang's speech at the financial report meeting.</b></p><p>Li Xiang said that at present, the ideal R&D work is mainly divided into three sections, one is product research and development, that is, the R&D and design of new models; The second is the research and development of technology platforms, including a new generation of extended-range electric platforms, high-voltage pure electric platforms, intelligent cockpit platforms, intelligent driving platforms, etc.; The third is the research and development of the underlying system, which is mainly the infrastructure construction of the underlying software.</p><p><b>In terms of the priority of investment in the three major R&D sectors, the technology platform currently invests the most resources, followed by the research and development of vehicle models and underlying systems.</b></p><p>This R&D layout logic is in line with the current ideal status quo.</p><p>First, from a product perspective, Ideal is currently in a state of rapid expansion of its product matrix, which also means that Ideal needs to improve the reuse rate of platform technology on different models and improve development efficiency through platformization.</p><p>Second, Ideal is currently at a critical node in breaking into the field of pure electric vehicles, and it is an inevitable result to raise the research and development of high-voltage pure electric platforms to an advantageous position.</p><p>According to the plan, Ideal's first pure electric vehicle will be delivered next year. This pure electric vehicle will be equipped with 800V high-voltage pure electric platform components, including power chips, power modules, electronic controls, motors, transmission systems, etc., all of which will be self-developed by Ideal.</p><p>At the same time, Ideal previously stated in the prospectus that with the listing of Ideal pure electric vehicles, the company will also develop and build its own high-power charging network.</p><p>For the ideal of starting and growing by extending the range, whether it can achieve the same market recognition and achievements on the pure electric track, the first product is crucial.</p><p>However, Li Xiang also said that in the long run, the research and development of the underlying system may exceed the research and development of the vehicle model. In the ideal plan, this part includes the underlying OS, supercomputing platform, cloud service, IT system, computing platform support, etc., covering almost all automotive software development.</p><p>In addition, just in May this year, Ideal also established a chip design company to lay out the chip sector.</p><p>According to the above arrangement, it can be seen that the ideal entire R&D layout can actually be divided into two stages:</p><p><b>First of all, the current goal is to form platform-based reuse capabilities in four fields: range extension, pure electric, cockpit and smart driving, and to maximize the scope of self-research and enhance ideal vertical integration capabilities.</b></p><p><b>Secondly, for a long time to come, in terms of intelligence, we must build a full-stack capability from hardware to software underlying architecture, and then to upper-layer algorithm capabilities, so as to control the autonomy of software-defined cars.</b></p><p>Looking back on Ideal's journey along the way, there have been sales miracles and product reputation, but compared with Nio and XPeng, it has also left criticism for insufficient technical investment.</p><p>With the growth of Ideal's volume, Ideal now has to make up for all the lessons missed in R&D, and take the path that Nio and XPeng have taken again, and even want to go deeper and further.</p><p>Of course, the realization of the blueprint is also accompanied by the payment of real money. In terms of research and development expenses, Ideal has been increasing visibly in recent quarters.</p><p><img src=\"https://static.tigerbbs.com/6ce1e29942d721ce7b1a4d6216d2d8f0\" tg-width=\"1399\" tg-height=\"831\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>The financial report shows that Ideal's R&D expenditure surpassed that of XPeng in the first quarter of this year. By the third quarter of this year, this figure had increased to 1.8 billion yuan, reaching the highest point in Ideal's history.</b></p><p>If nothing else happens, this high point will be constantly refreshed in the future. According to Li Tie, CFO of Ideal, Ideal's R&D expenditure this year is about 7 billion yuan, and this figure will further increase to 10-12 billion yuan in 2023.</p><p><b>R&D investment reaches its highest point, and sales guidance for the fourth quarter is optimistic</b></p><p>Finally, let's take a look at Ideal's operating performance in the third quarter of this year.</p><p>The financial report shows that Ideal's revenue in the third quarter was 9.34 billion yuan, a year-on-year increase of 20.2% and an increase of 7% from the previous quarter. Among them, automobile business revenue was 9.05 billion yuan, a year-on-year increase of 25% and a month-on-month increase of 6.6%. The reason for the revenue growth is the higher average selling price of Ideal L9.</p><p>In terms of delivery, in the third quarter, Ideal delivered a total of 26,524 new cars, an increase of 5.6% over the same period last year and a decrease of 8% from the previous quarter. The decline in deliveries was mainly due to the large-scale production reduction of Ideal ONE in August.</p><p><b>However, judging from the follow-up delivery trend, although Ideal's delivery broke bones in August, it also smoothly completed the switch between old and new products, and gradually returned to a high level in the following three months. By November, Ideal had 15,034 vehicles. The delivery results broke its own monthly delivery record.</b></p><p><img src=\"https://static.tigerbbs.com/d8fac9a6c225e1f8f05c3db87bfd25f6\" tg-width=\"1399\" tg-height=\"831\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>In the third quarter, Ideal's cost of sales was 8.16 billion yuan, an increase of 36.8% over the same period last year and an increase of 19.1% over the second quarter. Compared with the increase in revenue, the ideal cost of sales has increased disproportionately.<b>Ideal said that this is mainly due to the increase in average cost of sales caused by the delivery of the new product Ideal L9, coupled with the launch of L8, which led to the loss of inventory preparation and purchase commitment of Ideal ONE.</b></p><p>As a result, this also caused Ideal's gross profit margin this quarter to drop sharply from 21.5% in the previous quarter to 12.7%, the lowest point since the US stock market was listed.</p><p><img src=\"https://static.tigerbbs.com/c6ee523cdcbc1341bff1199ad2a23250\" tg-width=\"1398\" tg-height=\"830\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>In terms of expenses, Ideal's R&D expenditure in this quarter was 1.8 billion yuan, a year-on-year increase of 103% and an increase of 17.8% from the previous quarter. Selling, general and administrative expenses were 1.51 billion yuan, a year-on-year increase of 47.6% and a month-on-month increase of 13.8%.</p><p>In terms of losses, Ideal's net loss in the third quarter was 1.65 billion yuan, an increase of 157% from the previous quarter, and the loss expanded significantly.</p><p>As of the end of the third quarter of this year, Ideal's cash and cash equivalents were 55.83 billion yuan, an increase of 2.18 billion yuan from the end of the previous quarter.</p><p>The above is the third quarter report card handed over by Ideal. There are bright spots, but due to the impact of Ideal ONE's production suspension, the problem of profitability is also not small.</p><p>However, Ideal is obviously very optimistic about the guidance of future operating conditions.</p><p>The financial report shows that Ideal's delivery in the fourth quarter of this year is expected to be 45,000-48,000 vehicles, and the revenue scale during the same period will increase to 16.51-17.61 billion yuan.</p><p>At the same time, with the further expansion of the delivery scale of L9 and L8, Ideal also gives a positive expectation for next year. Ideal said that by 2023, the steady-state monthly delivery volume of L9 can reach 8,000-11,000 vehicles, and the steady-state monthly sales volume of L8 It is 10,000-14,000 vehicles.</p><p>After calculation, Ideal's steady-state monthly delivery volume can reach 18,000-25,000 vehicles next year. In addition, L7 will also be put into delivery in the near future, and this data is expected to further increase.</p><p>From this point of view, Li Xiang's small goal of earning 100 billion yuan next year is really not just casual talk.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.tmtpost.com/6342537.html\">赛博汽车</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/2c0ab7d3f5d89bb403311ca0a8e68f8e","relate_stocks":{"LI":"理想汽车"},"source_url":"https://www.tmtpost.com/6342537.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1156255334","content_text":"随着第三季度财报的发布，理想汽车成立以来最深刻的一场变革，正式拉开了大幕。这场变革的核心，是理想垂直职能组织的管理模式向矩阵型组织的升级。按照计划，在接下来的三年中，理想将在原有的两个横向实体部门的基础上新增五个横向实体部门，并在管理流程上向集成化转变。李想直言，到了明年。理想将迈入年收入千亿级别的阶段，体量的增长就需要更合适的组织结构和流程进行适配。同时，理想的管理层也进行了一系列调整，沈亚楠将辞任总裁并退出董事会，他后续将加入到理想汽车流程变革委员会。从披露的消息看，最终沈亚楠将彻底离开理想。代替沈亚楠出任总裁的，是拥有整车工程背景的理想原总工程师马东辉，执掌研发工作的CTO职位，则由具备底层软件架构开发经验的谢炎出任。高层管理者变动，技术派掌舵是最明显的特征，从上述两人的背景看，理想未来研发工作的重点方向，也能窥之一二。理想组织结构变革，由垂直管理到矩阵化李想在给内部员工的公开信中，宣告理想全面启动矩阵型组织升级，同时将这次组织改革的详细情况进行了介绍。用一句话总结起来，就是将原来的垂直职能管理转变为矩阵型组织管理模式。具体来看，理想将在原有的战略部和产品部两个横向实体部门的基础上，根据具体业务新增商业部、供应部、流程部、组织部、财经部等五个实体部门。由这七个横向实体部门组成理想的组织矩阵。李想在第三季度财报会上表示，矩阵型组织管理模式的最大特点，就是可以保证企业全流程的质量管理，用一个例子来理解：“横向团队负责路径的规划、运营和修补，纵向团队的任务是造车、开车、运营车，高质量的道路配合高水平的车队，就可以在商业上产生良性循环”。在划分矩阵组织的同时，矩阵内部的管理流程也有章程，在未来3年，理想将逐步落地DSTE（从战略到执行）、IPD（集成产品开发）、IPMS（集成产品营销和销售）、ISC（集成供应链）、BT&IT、LTD、IFS这七个一级流程，形成理想矩阵组织的最小运营闭环。理想所采用的诸多管理流程，也在许多大公司身上可以找到影子。比如华为，就曾在业务开始腾飞的2000年前后，从IBM引进了DSTE、IPD、IPMS、ISC等一系列管理方法论。再回头看理想的这种矩阵化的组织形式，与前不久小鹏汽车的组织调整有一定的相似之处，都是通过横向矩阵组织划分职能板块，与纵向的业务线进行配合。不过，不同于小鹏的火线改革，理想这次的调整，是在小范围试点的经验上，再大规模铺开的。李想披露，早在两年前，理想内部就先用IPD进行产品开发，目前理想的第二代车型，包括L9、L8、L7等，都是这种集中产品开发流程的产品。从理想L9交付首月即破万的市场反馈来看，理想前期的试点确实取得了成效。所以在经过两年的小范围试点之后，理想终于在即将跨入2023年的时候，将组织改革大规模铺开。当然，理想组织调整的时机选择，并不仅仅是因为前期的试点取得成效，更重要的是，李想对于未来前景的乐观判断。李想认为，理想汽车到明年就会迈入年收入千亿级别的阶段。在这个阶段，理想已经走过了从0-1的阶段，进入到从1-10的阶段。在这个阶段中，任何糟糕的重大决策和低质量交付的产品，都会对公司造成毁灭性的打击。矩阵型组织全流程质量管理的特点，可以让理想避开成长过程中的坑。理想人事变动重点，技术派管理者掌舵在进行组织改革的同时，理想管理层也进行了一系列人事调整，据理想官方消息，此次调整主要涉及3位高管。理想汽车联合创始人、现任总裁沈亚楠首先是理想联合创始人兼现任总裁沈亚楠，将从明年1月1日起，卸任总裁职位，同时退出董事会。后续将加入流程变革委员会，在协助完成组织变革后，沈亚楠将彻底离开理想。事实上，作为理想的联创之一，沈亚楠离开理想的消息并不令人意外。今年9月初，沈亚楠在不到一周的时间里在港股两次抛售理想股票，合计减持股票100万股，持股比例从1.74%降至1.71%，合计套现近1亿元。虽然持股比例并没有减多少，但当时正处在理想ONE停产，8月份打骨折的交付数据披露的时间，且新产品理想L9才刚刚开启交付，市场表现还并不明朗的风口浪尖上。作为公司的二号人物，选择在这种敏感时机减持股票，不能不叫人多想。或许在那个时候，沈亚楠就已经做好了退出核心管理层，离开理想的打算。沈亚楠卸任，空缺出来的总裁职位，则是交给了理想另一位联合创始人，现任公司总工程师的马东辉，整体负责研发与供应群组，同时马东辉也进入了理想的董事会。据悉，在今年初理想原CTO王凯离职之后，马东辉同时还担起了CTO的职责，此次上任总裁后，CTO的职位就由原高级副总裁谢炎担任，并全权负责系统和计算群组的研发。除了职位上的调整，马东辉和谢炎两个人的背景，也值得梳理一下。理想汽车联合创始人、现任总工程师马东辉公开信息显示，马东辉，1999年毕业于武汉工业大学动力工程学专业，此后又在2003年取得上海大学机械制造与自动化专业硕士学位。自理想成立之初，马东辉就担任公司总工程师一职，主要负责理想汽车产品研发群组的工作，包括造型设计、整车电动、智能空间、智能驾驶、算力架构、研发运营等多个业务模块。在进入理想之前，马东辉曾担任三一重工车身有限公司研究所所长，拥有丰富的整车研发经验。理想汽车现任系统研发部负责人谢炎谢炎，于2001年获得浙江大学信息电子工程学士学位，2003年获得特拉华大学计算机工程硕士学位。在入职理想之前，谢炎曾担任阿里巴巴AliOS事业群担任首席架构师和轮值总经理，负责移动操作系统的技术架构设计，和研发管理工作。2019年，谢炎帝离开阿里后加入华为，负责华为鸿蒙操作系统的研发工作。纵观谢炎的学术背景和职业经历就能明白，此人在汽车软件底层操作系统方面经验丰富。一个是整车，一个是软件，虽然长处各不相同，但这次理想的人事调整反映出的一个共同点是，都是技术出身。也就是说，拥有供应链管理背景的沈亚楠离开之后，理想将由技术派来掌舵。这也意味着，理想的技术研发工作，将被放在一个前所未有的高度上。理想现在到未来相当长的一段时间内的研发布局，也在李想财报会上的发言中更加清晰。李想表示，目前理想的研发工作主要分为三个板块，其一是产品研发，也就是新车型的研发设计；其二是技术平台的研发，包含新一代增程电动平台、高压纯电平台、智能座舱平台、智能驾驶平台等；其三是底层系统的研发，这部分主要是底层软件的基础设施建设。在三大研发板块投入的优先度上，目前技术平台的资源投入最多，其次是车型和底层系统的研发。这样的研发布局逻辑符合当下理想的现状。其一，从产品角度看，现在的理想正处于产品矩阵急速扩张的状态，这也意味着，理想需要通过平台化来提高平台技术在不同车型上的复用率，提升开发效率。其二，理想目前正处于突入纯电动车领域的关键节点，将高压纯电平台研发提上优势位是必然的结果。根据计划，理想首款纯电动车将会在明年交付。这款纯电动车将会搭载800V高压纯电平台组件，包括功率芯片、功率模块、电控、电机、传动系统等等，都将由理想自研。同时理想此前还在招股书中表示，伴随着理想纯电动车的上市，公司也将自研自建高功率充电网络。对于靠增程起家壮大起来的理想，能否在纯电赛道上取得同样的市场认可和成就，第一款产品至关重要。不过李想也说，如果往长远看，底层系统的研发可能会超过车型的研发，在理想的规划中，这部分内容包括底层OS、超算平台、云服务、IT系统、计算平台支持等等，几乎囊括了汽车软件开发的所有。另外，就在今年5月，理想还成立了一家芯片设计公司，布局芯片板块。按照以上的安排，可以看出，理想的整个研发布局，其实可以分成两个阶段：首先，当下的目标是，在增程、纯电、座舱和智驾等4个领域，形成平台化复用的能力，并且最大程度上扩大自研的范围，提升理想垂直整合的能力。其次，在往后相当长的一段时间内，要在智能化上，构建起从硬件到软件底层架构，再到上层算法能力的全栈能力，将软件定义汽车的自主权掌握在手中。回顾理想一路走来，有销量奇迹，有产品口碑，但相比于蔚来和小鹏来说，也留下了技术投入不足的诟病。而随着理想体量的增长，研发上面落下的课，理想现在要全部补上，把蔚来和小鹏走的路再走一遍，甚至还想要走得更深更远。当然，蓝图的实现也伴随着真金白银的付出。在研发费用上，理想在近几个季度是肉眼可见的在增长。财报显示，理想的研发支出，在今年第一季度就超过了小鹏，到今年第三季度这个数据已经增长到18亿元，达到理想有史以来的最高点。如果不出意外，这个高点在之后也将会被不停刷新。据理想CFO李铁透露，理想在今年的研发支出约为70亿元，2023年，这个数字会进一步增长至100-120亿元。研发投入达最高点，四季度销量指引乐观最后，我们来看看理想今年第三季度的经营表现。财报显示，理想第三季度的营收规模为93.4亿元，同比增长20.2%，较上个季度增长7%。其中，汽车业务营收为90.5亿元，同比增加25%，环比增加6.6%。营收增长的原因是理想L9更高的平均售价所致。交付方面，第三季度，理想累计交付26524辆新车，较去年同期增长5.6%，环比上个季度减少8%。交付的下降主要是理想ONE在8月份大规模减产所致。不过从后续的交付趋势来看，理想的交付虽然在8月份打骨折，但也很平稳的完成了新旧产品的切换，后续的三个月中逐渐回归高位，到11月，理想以15034辆的交付成绩打破自己的月度交付记录。第三季度，理想销售成本为81.6亿元，较去年同期增加36.8%，环比第二季度增加19.1%。相比营收的增加幅度，理想销售成本出现了不成比例的大幅增长。理想表示，这主要是因为新产品理想L9的交付导致平均销售成本上升，再加上L8的推出导致了理想ONE的库存准备和采购承诺损失。由此，这也导致理想本季度的毛利率从上个季度的21.5%大幅下跌至12.7%，创下美股上市以来的最低点。费用支出方面，理想在这个季度的研发支出为18亿元，同比增长103%，环比上个季度增加17.8%。销售、一般和管理支出为15.1亿元，同比增长47.6%，环比增加13.8%。亏损方面，理想第三季度的净亏损为16.5亿元，环比增加157%，亏损的大幅度扩大。截至到今年第三季度末，理想的现金及现金等价物为558.3亿元，较上个季度末增加21.8亿元。以上，就是理想交出来的第三季度成绩单，有亮点，但受到理想ONE停产风波的影响，盈利能力的问题同样不小。不过，对于未来经营状况的指引，理想显然非常乐观。财报显示，理想今年第四季度的交付预期为4.5-4.8万辆，同期的营收规模将增加至165.1-176.1亿元。同时，随着L9和L8交付规模的进一步扩大，理想也给明年一个积极的预期，理想表示，到2023年，L9的稳态月交付量可以达到8000-11000辆，L8的稳态月销量为10000-14000辆。计算下来，理想在明年稳态月交付量就可以达到1.8-2.5万辆，再加上L7也将在不久之后投入交付，这个数据也有望进一步提升。这样来看，李想明年收入千亿的小目标，还真不是随便说说。","news_type":1,"symbols_score_info":{"LI":0.9}},"isVote":1,"tweetType":1,"viewCount":2268,"au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data-views=\"1\"></v-v>","text":"$迪士尼(DIS)$","images":[{"img":"https://community-static.tradeup.com/news/89b68c6ba65fa4c0b3b76fb81899773d","width":"1125","height":"6067"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9920505994","isVote":1,"tweetType":1,"viewCount":2465,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9920018954,"gmtCreate":1670392258779,"gmtModify":1676538359184,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"h","listText":"h","text":"h","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9920018954","repostId":"2289017857","repostType":4,"isVote":1,"tweetType":1,"viewCount":963,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9920011738,"gmtCreate":1670392231824,"gmtModify":1676538359177,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/DIS\">$迪士尼(DIS)$&nbsp;</a><v-v data-views=\"1\"></v-v>","listText":"<a href=\"https://ttm.financial/S/DIS\">$迪士尼(DIS)$&nbsp;</a><v-v data-views=\"1\"></v-v>","text":"$迪士尼(DIS)$","images":[{"img":"https://community-static.tradeup.com/news/268a8ad59342da1070b1d2714caf5941","width":"1125","height":"6162"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9920011738","isVote":1,"tweetType":1,"viewCount":882,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9965218749,"gmtCreate":1669957551681,"gmtModify":1676538278414,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/DIS\">$迪士尼(DIS)$&nbsp;</a><v-v data-views=\"1\"></v-v>","listText":"<a href=\"https://ttm.financial/S/DIS\">$迪士尼(DIS)$&nbsp;</a><v-v data-views=\"1\"></v-v>","text":"$迪士尼(DIS)$","images":[{"img":"https://community-static.tradeup.com/news/548435cd6dd5ebbc5c61ce292af0df21","width":"750","height":"1486"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9965218749","isVote":1,"tweetType":1,"viewCount":991,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9965346926,"gmtCreate":1669902213765,"gmtModify":1676538266538,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"&nbsp;K","listText":"&nbsp;K","text":"K","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9965346926","repostId":"1111063060","repostType":4,"repost":{"id":"1111063060","kind":"news","pubTimestamp":1669899127,"share":"https://ttm.financial/m/news/1111063060?lang=en_US&edition=fundamental","pubTime":"2022-12-01 20:52","market":"hk","language":"zh","title":"After BYD, the first new force also increased its price","url":"https://stock-news.laohu8.com/highlight/detail?id=1111063060","media":"华尔街见闻 ","summary":"年底新能源汽车竞争激烈，特斯拉带头降价，奔驰也快步跟随；风头正盛的比亚迪和埃安，却在逆势涨价了。作为造车“新势力一哥”的埃安，在PK掉蔚小理等等之后，无限风光，在确认提前完成年销量目标的前一晚，宣布调","content":"<p><html><head></head><body>At the end of the year, competition for new energy vehicles was fierce, Tesla took the lead in cutting prices, and Mercedes-Benz quickly followed suit; BYD and Aian, which are in the limelight, are bucking the trend and raising prices.</p><p>As the \"big brother of new forces\" in car manufacturing, Aian, after PK Wei Xiaoli and so on, announced a price adjustment the night before it was confirmed to complete the annual sales target ahead of schedule.</p><p>On the evening of November 30, Aian announced that it had decided to increase the official guide price of its models by 3,000-8,000 yuan, and the price adjustment notice of specific models will be released separately. Customers who have paid the production scheduling deposit before January 1, 2023 will not be affected by this price adjustment.</p><p>Aian explained that the price increase was affected by the expiration of the new energy vehicle purchase tax subsidy policy and the continued sharp rise in the price of battery raw materials in the second half of the year.</p><p>Currently, Aian has four models on sale, with the official guide price ranging from 139,800 to 469,600 yuan, mainly 200,000 to 300,000 yuan.</p><p>This is the third time that Aian has adjusted its price this year. Previously, in March and April, Aian announced price increases, and each price increase ranged from 4,000 yuan to 10,000 yuan.</p><p>Similar to BYD, Aian dares to raise prices intensively, which is related to the fact that cars are easy to sell and sales have soared.</p><p>In November this year, Aian's new energy vehicle sales recorded 28,765 units, a year-on-year increase of 91%. In the first 11 months, Aian's cumulative sales volume was 241,149 units, a year-on-year increase of 128%, locking in the number one new force of the year in advance.</p><p>The sales target of 240,000 vehicles in 2022 has been completed by Aian one month ahead of schedule.</p><p>In the past two months, car companies have made frequent price adjustments. Some have cut prices to boost sales, such as Tesla, XPeng, and Wenjie, while others have increased prices against the trend. Starting next year, they will increase the prices of their models, such as BYD, Geometry Automobile, Ruilan Automobile, Leapmotor, etc.</p><p>Cui Dongshu, secretary-general of the National Passenger Car Market Information Association, believes that due to the official withdrawal of new energy vehicle subsidies at the end of the year, \"early next year, the domestic new energy vehicle market will set off another wave of price increases, but the scale will not be too large.\"</p><p>At present, most of these car companies that have raised prices against the trend have sold well this year. Except for Aian, BYD is only one step away from the annual sales target of 1.5 million vehicles. Industry insiders believe that these car companies that have raised prices against the trend are more to ease cost pressures and improve profit levels.</p><p>At present, most Aian car fans have accepted the news of the price increase, saying: \"It's understandable, I'm ready to start.\"</p><p>Looking ahead, Aian, which is hot this year, already has greater ambitions.</p><p>A person close to Aian said that Aian is no longer comparing with new forces and is striving to compete with large manufacturers with large-scale industrial production capabilities.</p><p>This inevitably doesn't make people think of BYD.</p><p>Aian does have many similarities with BYD. They all started as electric taxis, and they all have a full industrial chain layout. At the beginning, they all focused on the mid-to low-end market.</p><p>For all new energy vehicles, the core of future competition has shifted to the control of the industrial chain and supply chain. Since the beginning of this year, GAC Group and Aian have intensively deployed the entire industrial chain. The upstream GAC has ended up \"grabbing mines\", and the midstream Aian has established a battery and electric drive company to realize self-research and self-production of batteries and electric drives exclusively for Aian's use.</p><p>This integration of the entire industry chain has the shadow of \"the next BYD\".</p><p>Aian is also a capital darling with a trillion-dollar dream. In October, after the completion of the A-round battle of GAC Aian, Aian's valuation was 103.239 billion yuan, the highest valuation of domestic unlisted new energy vehicle companies; If it successfully lands on the Science and Technology Innovation Board next year, Aian's market value will further increase.</p><p>Aian is running towards its dream of being the \"top three in the world\".</p><p></body></html></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>After BYD, the first new force also increased its price</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\">\nAfter BYD, the first new force also increased its price\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\">2022-12-01 20:52</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>At the end of the year, competition for new energy vehicles was fierce, Tesla took the lead in cutting prices, and Mercedes-Benz quickly followed suit; BYD and Aian, which are in the limelight, are bucking the trend and raising prices.</p><p>As the \"big brother of new forces\" in car manufacturing, Aian, after PK Wei Xiaoli and so on, announced a price adjustment the night before it was confirmed to complete the annual sales target ahead of schedule.</p><p>On the evening of November 30, Aian announced that it had decided to increase the official guide price of its models by 3,000-8,000 yuan, and the price adjustment notice of specific models will be released separately. Customers who have paid the production scheduling deposit before January 1, 2023 will not be affected by this price adjustment.</p><p>Aian explained that the price increase was affected by the expiration of the new energy vehicle purchase tax subsidy policy and the continued sharp rise in the price of battery raw materials in the second half of the year.</p><p>Currently, Aian has four models on sale, with the official guide price ranging from 139,800 to 469,600 yuan, mainly 200,000 to 300,000 yuan.</p><p>This is the third time that Aian has adjusted its price this year. Previously, in March and April, Aian announced price increases, and each price increase ranged from 4,000 yuan to 10,000 yuan.</p><p>Similar to BYD, Aian dares to raise prices intensively, which is related to the fact that cars are easy to sell and sales have soared.</p><p>In November this year, Aian's new energy vehicle sales recorded 28,765 units, a year-on-year increase of 91%. In the first 11 months, Aian's cumulative sales volume was 241,149 units, a year-on-year increase of 128%, locking in the number one new force of the year in advance.</p><p>The sales target of 240,000 vehicles in 2022 has been completed by Aian one month ahead of schedule.</p><p>In the past two months, car companies have made frequent price adjustments. Some have cut prices to boost sales, such as Tesla, XPeng, and Wenjie, while others have increased prices against the trend. Starting next year, they will increase the prices of their models, such as BYD, Geometry Automobile, Ruilan Automobile, Leapmotor, etc.</p><p>Cui Dongshu, secretary-general of the National Passenger Car Market Information Association, believes that due to the official withdrawal of new energy vehicle subsidies at the end of the year, \"early next year, the domestic new energy vehicle market will set off another wave of price increases, but the scale will not be too large.\"</p><p>At present, most of these car companies that have raised prices against the trend have sold well this year. Except for Aian, BYD is only one step away from the annual sales target of 1.5 million vehicles. Industry insiders believe that these car companies that have raised prices against the trend are more to ease cost pressures and improve profit levels.</p><p>At present, most Aian car fans have accepted the news of the price increase, saying: \"It's understandable, I'm ready to start.\"</p><p>Looking ahead, Aian, which is hot this year, already has greater ambitions.</p><p>A person close to Aian said that Aian is no longer comparing with new forces and is striving to compete with large manufacturers with large-scale industrial production capabilities.</p><p>This inevitably doesn't make people think of BYD.</p><p>Aian does have many similarities with BYD. They all started as electric taxis, and they all have a full industrial chain layout. At the beginning, they all focused on the mid-to low-end market.</p><p>For all new energy vehicles, the core of future competition has shifted to the control of the industrial chain and supply chain. Since the beginning of this year, GAC Group and Aian have intensively deployed the entire industrial chain. The upstream GAC has ended up \"grabbing mines\", and the midstream Aian has established a battery and electric drive company to realize self-research and self-production of batteries and electric drives exclusively for Aian's use.</p><p>This integration of the entire industry chain has the shadow of \"the next BYD\".</p><p>Aian is also a capital darling with a trillion-dollar dream. In October, after the completion of the A-round battle of GAC Aian, Aian's valuation was 103.239 billion yuan, the highest valuation of domestic unlisted new energy vehicle companies; If it successfully lands on the Science and Technology Innovation Board next year, Aian's market value will further increase.</p><p>Aian is running towards its dream of being the \"top three in the world\".</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3676426\">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/47b6fbfe38edb1202883a645549da7f6","relate_stocks":{},"source_url":"https://wallstreetcn.com/articles/3676426","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111063060","content_text":"年底新能源汽车竞争激烈，特斯拉带头降价，奔驰也快步跟随；风头正盛的比亚迪和埃安，却在逆势涨价了。作为造车“新势力一哥”的埃安，在PK掉蔚小理等等之后，无限风光，在确认提前完成年销量目标的前一晚，宣布调价。11月30日晚，埃安公告，决定对旗下车型的官方指导价上调3000-8000元不等，具体车型的调价通知将另行发布。2023年1月1日前已支付排产定金的客户，不受此次调价影响。埃安解释道，涨价是受新能源汽车购置税补贴政策到期，和下半年电池原材料价格持续大幅上涨的影响。目前，埃安共有四款车型在售，官方指导价在13.98-46.96万元之间，并以二三十万为主。这已经是埃安今年第三次调整价格，此前3月、4月，埃安都宣布过涨价，每次涨价都在4000元-10000元不等。与比亚迪类似，埃安敢于密集涨价，与车好卖、销量大涨有关。今年11月份，埃安新能源汽车销量录得28765辆，同比增长91%，前十一月，埃安累计销量241149台，同比增长128%，提前锁定了年度新势力第一的宝座。而2022年24万辆的销售目标，埃安已经提前一个月完成。最近两个月，车企们调价动作频繁，一部分降价冲销量，如特斯拉、小鹏、问界，另一部分则逆势涨价，明年起上调旗下车型售价，如比亚迪、几何汽车、睿蓝汽车、零跑等。全国乘用车市场信息联席会秘书长崔东树认为，受新能源汽车补贴年底正式退出影响，“明年年初，国内新能源车市将再掀起一轮涨价潮，但规模不会太大。”当下这部分逆势涨价的车企今年大多销量不错，除了埃安，比亚迪距全年150万辆的销量目标仅一步之遥。业内人士认为，这部分逆势涨价的车企，更多是为了缓解成本压力，提升利润水平。目前，埃安车迷们大多接受了涨价的消息，表示：“可以理解，准备入手了。”展望未来，今年炙手可热的埃安已经有了更大的野心。一位接近埃安的人士表示，埃安现在已经不和新势力比了，正在争取跟有大规模工业生产能力的大厂比。这难免不让人想到比亚迪。埃安确实和比亚迪有诸多相似之处。都以电动出租车起家，都有全产业链布局，一开始都集中于中低端市场等。对所有的新能源汽车来说，未来竞争核心已经转向对产业链和供应链的把控。今年以来，广汽集团和埃安密集进行全产业链布局，上游广汽下场“抢矿”，中游埃安成立电池、电驱公司，实现电池、电驱自研自产，专供埃安使用。这样全产业链整合动作，颇有“下一个比亚迪”的影子。埃安也是一家有着万亿之梦的资本宠儿。10月，广汽埃安的A轮引战完成后，埃安估值为1032.39亿元，创当前国内未上市新能源车企最高估值；如果明年顺利登陆科创板，埃安的市值将进一步提升。埃安，正在朝它的“世界前三”梦想极速奔跑。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1041,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9965348239,"gmtCreate":1669902182521,"gmtModify":1676538266521,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"<a 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$60"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9007611268,"gmtCreate":1642865689688,"gmtModify":1676533753608,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"B","listText":"B","text":"B","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9007611268","repostId":"1181967997","repostType":4,"isVote":1,"tweetType":1,"viewCount":503,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":814255704,"gmtCreate":1630831382808,"gmtModify":1676530402889,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"&nbsp;U","listText":"&nbsp;U","text":"U","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/814255704","repostId":"1152020609","repostType":4,"repost":{"id":"1152020609","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":1630572749,"share":"https://ttm.financial/m/news/1152020609?lang=en_US&edition=fundamental","pubTime":"2021-09-02 16:52","market":"hk","language":"zh","title":"Reminder: Due to Labor Day, U.S. stocks will be closed for one day on September 6","url":"https://stock-news.laohu8.com/highlight/detail?id=1152020609","media":"老虎资讯综合","summary":"9月6日（下周一），美国股市因劳工节休市一天，9月7日（下周二）起恢复交易。\n港股、A股、英股、澳股、新加坡股市照常交易。\n背景简介：\n九月的第一个星期一是美国的劳工节（Labor Day），在189","content":"<p>On September 6 (next Monday), the U.S. stock market will be closed for one day due to Labor Day, and trading will resume on September 7 (next Tuesday).</p><p>Hong Kong stocks, A-shares, British stocks, Australian stocks and Singapore stock markets are trading as usual.</p><p><b>Background brief:</b></p><p>The first Monday in September is Labor Day in the United States, which was established as a national holiday in the United States in 1894, that is, Labor Day in the United States.</p><p>On this day, people all over the United States generally hold various celebrations such as * and rallies to show their respect for workers. In some states, people hold picnics after *, eating, drinking, singing and dancing. At night, fireworks will be set off in some places.</p><p><img src=\"https://static.tigerbbs.com/6a3b13247eca5b02ef7724259aead09e\" tg-width=\"800\" tg-height=\"500\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Reminder: Due to Labor Day, U.S. stocks will be closed for one day on September 6</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\">\nReminder: Due to Labor Day, U.S. stocks will be closed for one day on September 6\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\">2021-09-02 16:52</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On September 6 (next Monday), the U.S. stock market will be closed for one day due to Labor Day, and trading will resume on September 7 (next Tuesday).</p><p>Hong Kong stocks, A-shares, British stocks, Australian stocks and Singapore stock markets are trading as usual.</p><p><b>Background brief:</b></p><p>The first Monday in September is Labor Day in the United States, which was established as a national holiday in the United States in 1894, that is, Labor Day in the United States.</p><p>On this day, people all over the United States generally hold various celebrations such as * and rallies to show their respect for workers. In some states, people hold picnics after *, eating, drinking, singing and dancing. At night, fireworks will be set off in some places.</p><p><img src=\"https://static.tigerbbs.com/6a3b13247eca5b02ef7724259aead09e\" tg-width=\"800\" tg-height=\"500\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/6a3b13247eca5b02ef7724259aead09e","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1152020609","content_text":"9月6日（下周一），美国股市因劳工节休市一天，9月7日（下周二）起恢复交易。\n港股、A股、英股、澳股、新加坡股市照常交易。\n背景简介：\n九月的第一个星期一是美国的劳工节（Labor Day），在1894年被确立为美国的国家节日，即美国的劳动节。\n这一天，全美各地民众一般都会举行游行、集会等各种庆祝活动，以示对劳工的尊重。在一些州，人们在游行之后还要举办野餐会，热闹地吃喝、唱歌、跳舞。入夜，有的地方还会放焰火。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":610,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":199451547,"gmtCreate":1620729155389,"gmtModify":1704347427800,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"E","listText":"E","text":"E","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/199451547","repostId":"1184963058","repostType":4,"isVote":1,"tweetType":1,"viewCount":667,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9020808484,"gmtCreate":1652595716848,"gmtModify":1676535127065,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"m","listText":"m","text":"m","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9020808484","repostId":"2235348767","repostType":4,"repost":{"id":"2235348767","kind":"highlight","weMediaInfo":{"introduction":"致力于提供最及时的财经资讯，最专业的解读分析，覆盖宏观经济、金融机构、A股市场、上市公司、投资理财等财经领域。","home_visible":1,"media_name":"券商中国","id":"9","head_image":"https://static.tigerbbs.com/d482d56459984e8c86a6a137295b3c4f"},"pubTimestamp":1652579639,"share":"https://ttm.financial/m/news/2235348767?lang=en_US&edition=fundamental","pubTime":"2022-05-15 09:53","market":"hk","language":"zh","title":"The latest statements from economists such as Dalio and Justin Yifu Lin! How is China's economy going?","url":"https://stock-news.laohu8.com/highlight/detail?id=2235348767","media":"券商中国","summary":"在本次论坛上，多位经济学家一致认为，当前，世界经济、金融环境不确定性增加，但中国仍将保持动态的经济发展增速。达利欧表示，各国之间要有序竞争、避免冲突，保持对话、合作共赢，共同为经济发展与科技进步做出努力。林毅夫指出，中国会保持动态的经济发展增速。“在较好的政治环境保障下，中国能够保持动态经济增长。”他表示，要调整中国海外资产结构，平衡中国国际收支，应对国际货币体系新变局。","content":"<p><html><head></head><body>On May 14, the 2022 Tsinghua PBC Chief Economist Forum was held online. Ray Dalio, founder of Bridgewater Fund, gave a keynote speech and invited well-known economists such as Justin Yifu Lin, Liu Shijin, and Yu Yongding to jointly look forward to the world economy, finance and global order.</p><p>At present, mankind has not yet stepped out of the haze of the century epidemic, and is facing new traditional security risks; The global economic recovery is still fragile and weak, and the contradiction of increasing development gap is superimposed; The complexity, severity and uncertainty of China's economic development environment are also on the rise.</p><p>In his keynote speech at the conference, Ray Dalio called on countries to compete in an orderly manner, avoid conflicts, maintain dialogue and win-win cooperation, and make joint efforts for economic development and scientific and technological progress.</p><p>At this forum, many economists agreed that at present, the uncertainty of the world economic and financial environment is increasing, but China will still maintain a dynamic economic growth rate. China's rapid and dynamic economic growth and open reform attitude can also bring opportunities to other countries. Next, it is necessary to adjust China's overseas asset structure, balance China's international balance of payments, and cope with new changes in the international monetary system. It is also necessary to further tap the structural potential that truly promotes long-term economic growth, and tap the potential of green transformation and innovation by coping with the pressure of climate change.</p><p>Talking about the form of the world economy, Ray Dalio: The world faces a high-risk environment</p><p>Ray Dalio, founder of Bridgewater Fund, said in his keynote speech that whenever the three major forces of large-scale debt monetization, internal conflicts, and the rise of great powers go hand in hand, a high-risk environment will be created, and this is exactly what the world is facing today.</p><p>Dalio pointed out that at present, the international community is in a period in which the three major forces of large-scale debt monetization, internal conflicts and the rise of great powers go hand in hand. First, huge debt is accompanied by large-scale debt monetization,<a href=\"https://laohu8.com/S/CNBC\">Central Bank</a>Printing money to buy debt is particularly serious among the three major currencies in the world. Secondly, some western countries have serious internal conflicts. In addition, the rise of major powers such as China will bring difficult conflicts in the process of competition among major powers. Historical experience shows that whenever these three forces go hand in hand, a high-risk environment will be created.</p><p>Dalio emphasized the debt problem at the meeting. He said that looking back on history, while a country is moving towards prosperity, it may be behind the rising borrowing, and financial bubbles will occur after the debt is high. When a country's trade share continues to increase, and most trade is settled in that country's currency, making that country's currency a reserve currency, this will promote more lending behavior. Next, in the face of uneven distribution of wealth, money is often printed to try to alleviate the contradiction.</p><p>\"The conflicts of the times we are living in are constantly rising, and the road ahead is very unclear.\" Dalio said that countries should compete in an orderly manner, avoid conflicts, maintain dialogue and win-win cooperation, and jointly make efforts for economic development and scientific and technological progress.</p><p>Talking about China's development, Justin Yifu Lin: China can maintain dynamic economic growth</p><p>Lin Yifu, professor and dean of Peking University Institute of New Structural Economics, honorary dean of Peking University National Development Research Institute, and dean of Peking University Institute of South-South Cooperation and Development, said that China should maintain a dynamic economic growth rate and keep an open attitude.</p><p>Lin Yifu pointed out that China will maintain a dynamic economic growth rate. At present, China's per capita GDP is low, and the per capita proportion of science and technology is even lower. However, as China continues to catch up and give full play to its advantages as a latecomer, China should have an annual growth potential of 8%. In addition, according to the evaluation of purchasing power, China is already the largest economy in the world, with a huge domestic market and a high share of the international economy.</p><p>\"Under a better political environment, China can maintain dynamic economic growth,\" Lin Yifu said.</p><p>Lin Yifu also introduced that China should actively remain open and become a promoter of globalization. Since 2008, China has accounted for one-quarter to one-third of the annual global growth. If China can maintain rapid growth, it will continue to help the development of the global economy.</p><p>Lin Yifu further pointed out that China is not only the world's largest economy under the purchasing power evaluation system, but also the world's largest trading country, the largest trading partner of more than 120 countries and the second largest trading partner of more than 70 countries, accounting for 90% of the world's total. Trade is a win-win situation for both sides. Under the background of contemporary global economy, other countries can benefit a lot from bilateral trade with China. China's rapid and dynamic economic growth and open reform attitude will bring opportunities to other countries through its own growth.</p><p>How to deal with risks? Yu Yongding: Improving the security of China's overseas assets</p><p>Yu Yongding, a member of the Chinese Academy of Social Sciences, a researcher and doctoral supervisor at the Institute of World Economics and Politics of the Chinese Academy of Social Sciences, emphasized the security of China's overseas assets. He said that it is necessary to adjust China's overseas asset structure, balance China's international balance of payments, and cope with new changes in the international monetary system.</p><p>Yu Yongding emphasized that China's overseas assets and liabilities structure needs to be adjusted. On the one hand, increase the net income of overseas investment. The main content of the adjustment is to reduce the proportion of foreign exchange reserves in China's overseas assets. On the other hand, improve the safety of China's overseas assets, especially foreign exchange reserves.</p><p>China's overseas assets can be divided into two parts: stock and flow. Yu Yongding believes that four measures can be taken for the existing stock of overseas assets: consider reducing US Treasury Bond and increasing other forms of assets; Increase investment in some strategic resource-producing countries such as Central Asia; Strictly protect foreign investors' investment in China; Use IT technology, digital currency and other technical means to improve the security of overseas assets.</p><p><b>Regarding the overseas asset flow, Yu Yongding believes that eight types of policy adjustment methods can be considered:</b></p><p>First, expansionary fiscal and monetary policies stimulate domestic demand and drive imports. An important condition for reducing the trade surplus is that there must be domestic demand. To ensure strong domestic demand, in addition to long-term structural reforms, expansionary fiscal and monetary policies should be implemented in the short term.</p><p>Second, cancel the export tax rebate policy implemented in the past to encourage exports as soon as possible.</p><p>Third, increase imports of bulk commodities and strategic materials such as grain and energy.</p><p>Fourth, buy less American Treasury Bond, import more American products, and fulfill the Sino-US trade agreement as much as possible.</p><p>Fifth, maintain the trade deficit in a specific period. By increasing imports and using up excess foreign reserves, it is combined with the implementation of Sino-US trade agreements.</p><p>Sixth, implement the floating exchange rate policy. We should persist in intervening in the market and adapt to the increase or decrease of foreign exchange reserves caused by maintaining market stability.</p><p>Seventh, increase the form of overseas investment. Converting the trade surplus into overseas investment is also a way of adjustment.</p><p>Eighth, give full play to China's advantages in infrastructure investment, but be careful of debt traps.</p><p>How to tap potential? Liu Shijin: Green transformation and innovation will generate more added value</p><p>Liu Shijin, former deputy director of the Development Research Center of the State Council, member of the Chinese People's Political Consultative Conference, vice chairman of the Fourth Council of the China Development Research Foundation, professor and dean of the School of Economics and Management of Harbin Institute of Technology (Shenzhen), said that we can tap the structural potential that truly promotes long-term economic growth by coping with the pressure of climate change.</p><p><b>Liu Shijin introduced that the response methods to climate change can be divided into the following three categories:</b></p><p>Defensive response, traditional energy or high-carbon industries consider transformation, restructuring or even withdrawal.</p><p>Adaptive response to reduce energy use and carbon emissions.</p><p>Aggressive response, replacing traditional high-carbon energy and high-carbon industries with low-carbon and zero-carbon new energy technologies.</p><p>\"Defensive and adaptive responses have limited effects on climate improvement, and may even delay the green transformation of energy and economy.\" Liu Shijin pointed out that on a global scale, we should focus on aggressive responses to achieve systematic replacement of technologies and replace the original high-carbon technologies with low-carbon and zero-carbon technologies.</p><p>Liu Shijin further introduced that with green transformation and innovation, in addition to achieving carbon reduction, more added value will be generated and more consumer surplus will be created. Taking the development of domestic new energy vehicles as an example, in mid-2021<a href=\"https://laohu8.com/S/600617\">National New Energy</a>Automobiles accounted for 13% of the total automobiles, and accounted for nearly 20% in the first quarter of this year. The original intention of developing new energy vehicles is to reduce carbon emissions, but the ultimate benefits to consumers are beyond imagination.</p><p>Liu Shijin said that green products will be relatively expensive and premium at the initial stage of listing, but as innovation competition intensifies, prices are falling and their competitiveness will gradually increase. By comparing costs and benefits, green innovation will significantly reduce the cost of our response to climate change.</p><p>In Liu Shijin's view, as the global economy enters the stage of digital transformation, technological innovations in response to environmental changes will greatly promote the process of digital transformation. Greening driven by the digital economy will generate a lot of demand.</p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The latest statements from economists such as Dalio and Justin Yifu Lin! How is China's economy going?</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 latest statements from economists such as Dalio and Justin Yifu Lin! How is China's economy going?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/9\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d482d56459984e8c86a6a137295b3c4f);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">券商中国 </p>\n<p class=\"h-time smaller\">2022-05-15 09:53</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>On May 14, the 2022 Tsinghua PBC Chief Economist Forum was held online. Ray Dalio, founder of Bridgewater Fund, gave a keynote speech and invited well-known economists such as Justin Yifu Lin, Liu Shijin, and Yu Yongding to jointly look forward to the world economy, finance and global order.</p><p>At present, mankind has not yet stepped out of the haze of the century epidemic, and is facing new traditional security risks; The global economic recovery is still fragile and weak, and the contradiction of increasing development gap is superimposed; The complexity, severity and uncertainty of China's economic development environment are also on the rise.</p><p>In his keynote speech at the conference, Ray Dalio called on countries to compete in an orderly manner, avoid conflicts, maintain dialogue and win-win cooperation, and make joint efforts for economic development and scientific and technological progress.</p><p>At this forum, many economists agreed that at present, the uncertainty of the world economic and financial environment is increasing, but China will still maintain a dynamic economic growth rate. China's rapid and dynamic economic growth and open reform attitude can also bring opportunities to other countries. Next, it is necessary to adjust China's overseas asset structure, balance China's international balance of payments, and cope with new changes in the international monetary system. It is also necessary to further tap the structural potential that truly promotes long-term economic growth, and tap the potential of green transformation and innovation by coping with the pressure of climate change.</p><p>Talking about the form of the world economy, Ray Dalio: The world faces a high-risk environment</p><p>Ray Dalio, founder of Bridgewater Fund, said in his keynote speech that whenever the three major forces of large-scale debt monetization, internal conflicts, and the rise of great powers go hand in hand, a high-risk environment will be created, and this is exactly what the world is facing today.</p><p>Dalio pointed out that at present, the international community is in a period in which the three major forces of large-scale debt monetization, internal conflicts and the rise of great powers go hand in hand. First, huge debt is accompanied by large-scale debt monetization,<a href=\"https://laohu8.com/S/CNBC\">Central Bank</a>Printing money to buy debt is particularly serious among the three major currencies in the world. Secondly, some western countries have serious internal conflicts. In addition, the rise of major powers such as China will bring difficult conflicts in the process of competition among major powers. Historical experience shows that whenever these three forces go hand in hand, a high-risk environment will be created.</p><p>Dalio emphasized the debt problem at the meeting. He said that looking back on history, while a country is moving towards prosperity, it may be behind the rising borrowing, and financial bubbles will occur after the debt is high. When a country's trade share continues to increase, and most trade is settled in that country's currency, making that country's currency a reserve currency, this will promote more lending behavior. Next, in the face of uneven distribution of wealth, money is often printed to try to alleviate the contradiction.</p><p>\"The conflicts of the times we are living in are constantly rising, and the road ahead is very unclear.\" Dalio said that countries should compete in an orderly manner, avoid conflicts, maintain dialogue and win-win cooperation, and jointly make efforts for economic development and scientific and technological progress.</p><p>Talking about China's development, Justin Yifu Lin: China can maintain dynamic economic growth</p><p>Lin Yifu, professor and dean of Peking University Institute of New Structural Economics, honorary dean of Peking University National Development Research Institute, and dean of Peking University Institute of South-South Cooperation and Development, said that China should maintain a dynamic economic growth rate and keep an open attitude.</p><p>Lin Yifu pointed out that China will maintain a dynamic economic growth rate. At present, China's per capita GDP is low, and the per capita proportion of science and technology is even lower. However, as China continues to catch up and give full play to its advantages as a latecomer, China should have an annual growth potential of 8%. In addition, according to the evaluation of purchasing power, China is already the largest economy in the world, with a huge domestic market and a high share of the international economy.</p><p>\"Under a better political environment, China can maintain dynamic economic growth,\" Lin Yifu said.</p><p>Lin Yifu also introduced that China should actively remain open and become a promoter of globalization. Since 2008, China has accounted for one-quarter to one-third of the annual global growth. If China can maintain rapid growth, it will continue to help the development of the global economy.</p><p>Lin Yifu further pointed out that China is not only the world's largest economy under the purchasing power evaluation system, but also the world's largest trading country, the largest trading partner of more than 120 countries and the second largest trading partner of more than 70 countries, accounting for 90% of the world's total. Trade is a win-win situation for both sides. Under the background of contemporary global economy, other countries can benefit a lot from bilateral trade with China. China's rapid and dynamic economic growth and open reform attitude will bring opportunities to other countries through its own growth.</p><p>How to deal with risks? Yu Yongding: Improving the security of China's overseas assets</p><p>Yu Yongding, a member of the Chinese Academy of Social Sciences, a researcher and doctoral supervisor at the Institute of World Economics and Politics of the Chinese Academy of Social Sciences, emphasized the security of China's overseas assets. He said that it is necessary to adjust China's overseas asset structure, balance China's international balance of payments, and cope with new changes in the international monetary system.</p><p>Yu Yongding emphasized that China's overseas assets and liabilities structure needs to be adjusted. On the one hand, increase the net income of overseas investment. The main content of the adjustment is to reduce the proportion of foreign exchange reserves in China's overseas assets. On the other hand, improve the safety of China's overseas assets, especially foreign exchange reserves.</p><p>China's overseas assets can be divided into two parts: stock and flow. Yu Yongding believes that four measures can be taken for the existing stock of overseas assets: consider reducing US Treasury Bond and increasing other forms of assets; Increase investment in some strategic resource-producing countries such as Central Asia; Strictly protect foreign investors' investment in China; Use IT technology, digital currency and other technical means to improve the security of overseas assets.</p><p><b>Regarding the overseas asset flow, Yu Yongding believes that eight types of policy adjustment methods can be considered:</b></p><p>First, expansionary fiscal and monetary policies stimulate domestic demand and drive imports. An important condition for reducing the trade surplus is that there must be domestic demand. To ensure strong domestic demand, in addition to long-term structural reforms, expansionary fiscal and monetary policies should be implemented in the short term.</p><p>Second, cancel the export tax rebate policy implemented in the past to encourage exports as soon as possible.</p><p>Third, increase imports of bulk commodities and strategic materials such as grain and energy.</p><p>Fourth, buy less American Treasury Bond, import more American products, and fulfill the Sino-US trade agreement as much as possible.</p><p>Fifth, maintain the trade deficit in a specific period. By increasing imports and using up excess foreign reserves, it is combined with the implementation of Sino-US trade agreements.</p><p>Sixth, implement the floating exchange rate policy. We should persist in intervening in the market and adapt to the increase or decrease of foreign exchange reserves caused by maintaining market stability.</p><p>Seventh, increase the form of overseas investment. Converting the trade surplus into overseas investment is also a way of adjustment.</p><p>Eighth, give full play to China's advantages in infrastructure investment, but be careful of debt traps.</p><p>How to tap potential? Liu Shijin: Green transformation and innovation will generate more added value</p><p>Liu Shijin, former deputy director of the Development Research Center of the State Council, member of the Chinese People's Political Consultative Conference, vice chairman of the Fourth Council of the China Development Research Foundation, professor and dean of the School of Economics and Management of Harbin Institute of Technology (Shenzhen), said that we can tap the structural potential that truly promotes long-term economic growth by coping with the pressure of climate change.</p><p><b>Liu Shijin introduced that the response methods to climate change can be divided into the following three categories:</b></p><p>Defensive response, traditional energy or high-carbon industries consider transformation, restructuring or even withdrawal.</p><p>Adaptive response to reduce energy use and carbon emissions.</p><p>Aggressive response, replacing traditional high-carbon energy and high-carbon industries with low-carbon and zero-carbon new energy technologies.</p><p>\"Defensive and adaptive responses have limited effects on climate improvement, and may even delay the green transformation of energy and economy.\" Liu Shijin pointed out that on a global scale, we should focus on aggressive responses to achieve systematic replacement of technologies and replace the original high-carbon technologies with low-carbon and zero-carbon technologies.</p><p>Liu Shijin further introduced that with green transformation and innovation, in addition to achieving carbon reduction, more added value will be generated and more consumer surplus will be created. Taking the development of domestic new energy vehicles as an example, in mid-2021<a href=\"https://laohu8.com/S/600617\">National New Energy</a>Automobiles accounted for 13% of the total automobiles, and accounted for nearly 20% in the first quarter of this year. The original intention of developing new energy vehicles is to reduce carbon emissions, but the ultimate benefits to consumers are beyond imagination.</p><p>Liu Shijin said that green products will be relatively expensive and premium at the initial stage of listing, but as innovation competition intensifies, prices are falling and their competitiveness will gradually increase. By comparing costs and benefits, green innovation will significantly reduce the cost of our response to climate change.</p><p>In Liu Shijin's view, as the global economy enters the stage of digital transformation, technological innovations in response to environmental changes will greatly promote the process of digital transformation. Greening driven by the digital economy will generate a lot of demand.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/930b9eb2efad430f9fa69501a6ac4a6d","relate_stocks":{},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2235348767","content_text":"5月14日，2022清华五道口首席经济学家论坛在线上举行，桥水基金创始人瑞·达利欧（Ray Dalio）作主旨演讲，并邀请到林毅夫、刘世锦、余永定等知名经济学家共同展望世界经济、金融与全球秩序。当前，人类还未走出世纪疫情阴霾，又面临新的传统安全风险；全球经济复苏仍脆弱乏力，又叠加发展鸿沟加剧的矛盾；我国经济发展环境的复杂性、严峻性、不确定性也在上升。瑞·达利欧在会主旨演讲中呼吁，各国之间要有序竞争、避免冲突，保持对话、合作共赢，共同为经济发展与科技进步做出努力。在本次论坛上，多位经济学家一致认为，当前，世界经济、金融环境不确定性增加，但中国仍将保持动态的经济发展增速。中国保持高速动态经济增长，并且保持开放型的改革态度，也能为其他国家带来机会。接下来，要调整中国海外资产结构，平衡中国国际收支，应对国际货币体系新变局。也要进一步挖掘真正推动经济长期增长的结构性潜能，通过应对气候变化的压力来挖掘绿色转型创新潜能。谈世界经济形式，瑞·达利欧：全球面临高风险环境桥水基金创始人瑞·达利欧（Ray  Dalio）在主旨演讲中表示，每当大规模的债务货币化、内部冲突、大国崛起三大力量齐头并进的时候，会产生高风险环境，而这正是当今全球所面临的情况。达利欧指出，当前国际社会正处于大规模的债务货币化、内部冲突、大国崛起三大力量齐头并进的时期。首先，巨大的债务伴随大规模的债务货币化，中央银行印钞票来购买债务在全球三大主流货币当中尤为严重。其次，一些西方国家存在严重的内部冲突。另外，如中国等大国的崛起将带来在大国之间竞争过程中难以避免冲突。而历史经验表明，每当这三大力量齐头并进，就会产生高风险环境。达利欧在会上强调了债务问题。他表示，回顾历史，一个国家在走向繁荣的同时，背后可能是不断推高的借贷，债台高筑后会产生金融泡沫。当某个国家贸易份额不断增加，且大多数贸易以该国货币结算，使得该国货币成为储备货币，这将促使更多的借贷行为。接下来，面对财富分配的不平均，也往往会通过印钞来试图缓解矛盾。“我们现在所处的时代冲突不断地上升，接下来前方的路非常不明朗。”达利欧表示，各国之间要有序竞争、避免冲突，保持对话、合作共赢，共同为经济发展与科技进步做出努力。谈中国发展，林毅夫：中国能保持动态经济增长北京大学新结构经济学研究院教授、院长，北京大学国家发展研究院名誉院长，北京大学南南合作与发展学院院长林毅夫表示，中国应保持动态的经济发展增速，保持开放的态度。林毅夫指出，中国会保持动态的经济发展增速。当前我国人均GDP低，科技人均占比更低，但随着中国不断迎头赶上，发挥后发者优势，中国每年应该有8%的增长潜质。此外，中国按照购买力评价来看已经是全球最大经济体，国内市场庞大，国际经济份额占比高。“在较好的政治环境保障下，中国能够保持动态经济增长。”林毅夫说。林毅夫还介绍，中国应积极保持开放，能够成为全球化的推动者。2008年以来，中国占每年全球增长的四分之一到三分之一，如果中国能够保持高速增长，将会持续地助力全球经济的发展。林毅夫进一步指出，中国不仅是购买力评价体系下的全球最大的经济体，也是全球最大的贸易国家，是120多个国家最大的贸易伙伴国，70多个国家的第二大贸易伙伴国，上述国家占到全球的90%。贸易是双边共赢的，在当代全球化经济背景之下，其他国家可从与中国的双边贸易中获益良多。中国保持高速动态经济增长，并且保持开放型的改革态度，将会通过自身的增长，为其他国家带来机会。如何应对风险？余永定：提高中国海外资产安全性中国社会科学院学部委员，中国社会科学院世界经济与政治研究所研究员、博导余永定强调了中国海外资产的安全问题。他表示，要调整中国海外资产结构，平衡中国国际收支，应对国际货币体系新变局。余永定强调，中国的海外资产负债结构需要调整。一方面，提高海外投资的净收益。调整的主要内容是降低外汇储备在中国海外资产中的占比。另一方面，提高中国海外资产特别是外汇储备的安全性。中国的海外资产可以分成存量和流量两部分，余永定认为，对已有的海外资产存量，可以采取四方面措施：考虑减持美国国债、增持其他形式资产；增加对中亚等一些战略资源生产国的投资；严格保护外国投资者在中国的投资；用IT技术、数字货币等技术手段提高海外资产安全性。对于海外资产流量部分，余永定认为，可以考虑八类政策调整方式：第一，扩张性财政货币政策刺激内需带动进口。减少贸易顺差重要的条件是必须有国内内需，要保障强有力的内需，除了长期的结构性改革以外，从短期来看要执行扩张性财政货币政策。第二，尽快取消过去为鼓励出口执行的出口退税政策。第三，增大对粮食、能源等大宗商品、战略物资的进口。第四，少购买美国国债，更多进口美国产品，尽可能履行中美贸易协定。第五，特定时期维持贸易逆差。通过增加进口和用掉多余的外储，和执行中美贸易协定结合起来。第六，实行浮动汇率政策。要坚持干预市场、适应维护市场稳定导致的外汇储备增加或者减少。第七，增加海外投资形式。通过把贸易顺差转化为海外投资也是一个调整的方式。第八，发挥中国在基础设施投资方面的优势，但要小心债务陷阱。如何挖掘潜能？刘世锦：绿色转型创新将产生更多附加值国务院发展研究中心原副主任、政协委员，中国发展研究基金会第四届理事会副理事长，哈尔滨工业大学（深圳）经济管理学院教授、院长刘世锦表示，可通过应对气候变化的压力，挖掘真正推动经济长期增长的结构性潜能。刘世锦介绍，应对气候变化的反应方式分为以下三类：防御型反应，传统能源或高碳的行业考虑转型重组甚至退出。适应型反应，减少能源使用和碳排放。进取型反应，用低碳、零碳的新能源新技术取代传统的高碳能源、高碳产业。“防御性和适应性反应对气候改善作用有限，甚至会推后能源和经济的绿色转型。”刘世锦指出，在全球范围内，都应把重心放在进取型反应上，实现技术的系统性替代，用低碳、零碳技术替代原有的高碳技术。刘世锦进一步介绍，随着绿色转型创新，在实现减碳之外，还将产生更多的附加值，创造更多消费者剩余。以国内新能源汽车发展为例，2021年中国新能源汽车占整个汽车比重13%，今年一季度占比接近了20%。发展新能源汽车的初衷是为了减碳，但最终给消费者带来的好处超乎想象。刘世锦表示，绿色产品上市初期会有比较贵有溢价，但随着创新竞争的加剧，价格在下降，其竞争力将逐步提升。通过成本和收益的比较，绿色创新将使我们应对气候变化的成本大幅度地下降。在刘世锦看来，随着全球经济进入数字化转型阶段，为应对环境变化所作的技术创新将大大推进数字化转型进程。数字经济带动的绿色化会产生大量需求。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":679,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9010344126,"gmtCreate":1648266179338,"gmtModify":1676534324050,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"b","listText":"b","text":"b","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9010344126","repostId":"1157034832","repostType":4,"repost":{"id":"1157034832","kind":"news","pubTimestamp":1648261174,"share":"https://ttm.financial/m/news/1157034832?lang=en_US&edition=fundamental","pubTime":"2022-03-26 10:19","market":"hk","language":"zh","title":"If we don't make enlarged moves, Nio will be caught up","url":"https://stock-news.laohu8.com/highlight/detail?id=1157034832","media":"深途","summary":"“蔚小理”的财报陆续出炉了，这次交上的是2021年的全年成绩单，这一期我们看看蔚来。蔚来财报今天早上发布，整体上并无太大亮点。2021年收入361亿，净亏损40亿，账上现金183亿，基本都在预料之内。","content":"<p><html><head></head><body>The financial reports of \"Wei Xiaoli\" have been released one after another. This time, the full-year report card for 2021 is handed in. Let's take a look at this issue<a href=\"https://laohu8.com/S/NIO\">Nio</a>。</p><p>Nio's earnings report was released this morning, and it didn't have much bright spots overall. In 2021, the revenue will be 36.1 billion, the net loss will be 4 billion, and the cash on the account will be 18.3 billion, which is basically within expectations. The data for the fourth quarter of last year also came out, with a revenue of 9.9 billion and a net loss of 2.1 billion, which is indeed very \"Nio\".</p><p>What is worth paying attention to is the gross profit margin. The gross profit margin of vehicle sales was 20.9%, reaching a high level in the past two years, and the company's gross profit margin was 17.2%, which was quite satisfactory. In the third quarter of last year, Nio made a lot of money by selling new energy points, resulting in the company's gross profit margin exceeding 20%. However, this is a one-shot deal. If you don't get points to sell, the gross profit margin will quickly come down.</p><p>For more than a year, Nio has not delivered new models. Throughout 2021, Nio delivered 91,429 vehicles, maintaining its second position among the new car-making forces with a slight advantage. This is the first time that Nio has been overtaken by XPeng.</p><p>On the earnings conference call, Nio founder Li Bin also revealed some information. For example, Nio has not raised prices yet, and there is currently no idea of raising prices. Next, we will see whether the pricing policy will be adjusted according to market conditions; Nio's new brand for the mass market is steadily advancing. At present, the core team has been set up, the strategic direction has been clarified, and the first batch of products have entered the critical research and development stage.</p><p>Nio is holding back a big move, which will be released slowly this year, and Nio may be able to pull back a city.</p><p><b>Nio can't just be \"old three\"</b></p><p>There are now three models that Nio has delivered-ES8, ES6, and EC6, which will be delivered in June 2018, June 2019, and September 2020 respectively. That's the equivalent of delivering one new model every year.</p><p>But from September 2020 to now, for a year and a half, Nio has not delivered new models. It is these three cars that have shaped the brand of Nio Motors and supported a market value of more than 30 billion US dollars.</p><p>In 2021, Nio's most expensive ES8 will deliver a total of 20,050 vehicles, 41,474 ES6 vehicles and 29,905 EC6 vehicles. The three cars add up to 91,429 units, more than double that of 2020, and the growth rate is still good.</p><p><img src=\"https://static.tigerbbs.com/56687ed96956de98823e30ce823c49ee\" tg-width=\"1080\" tg-height=\"677\" referrerpolicy=\"no-referrer\"/></p><p>But compared with peers, this achievement is not outstanding-the total delivery volume was surpassed by XPeng, and the growth rate was not as good as XPeng and Ideal.</p><p>Fortunately, cars in Nio are expensive and have an advantage in income.</p><p>In 2021, Nio's total revenue will be 36.1 billion yuan, far exceeding XPeng and Ideal. Based on this calculation, Nio's bicycle income is close to 400,000 yuan. Of course, a small part of this income is generated by selling accessories and value-added services.</p><p>The fastest catch-up in terms of income is ideal. The price of Ideal ONE exceeds 300,000 yuan. Ideal's total revenue in 2021 will be 27 billion yuan, an increase of nearly two times, and the gap with Nio is narrowing.</p><p>Nio is still the biggest loser. In the four quarters of 2021, Nio's net losses were 450 million yuan, 590 million yuan, 840 million yuan, and 2.14 billion yuan respectively, and the annual net loss was 4 billion yuan. When it comes to losing money, Ideal and XPeng have never been a match for Nio.</p><p><img src=\"https://static.tigerbbs.com/c0b461fa0eeedce0414e3e9dece10659\" tg-width=\"1080\" tg-height=\"737\" referrerpolicy=\"no-referrer\"/></p><p>From the operational level, we can still see some positive signals. For example, Nio's gross profit margin has been improving. The gross profit margin of vehicle sales can basically remain above 20% in the four quarters of 2021, while the average value of this data in 2020 is less than 10%. In addition, the company's gross profit margin has remained above 17% last year, which is the basis for Nio to make money in the future.</p><p><img src=\"https://static.tigerbbs.com/558cd217755a9f5a13032691fd808710\" tg-width=\"1080\" tg-height=\"688\" referrerpolicy=\"no-referrer\"/></p><p>But there is a contrast that makes a difference. On the gross profit margin,<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>And Ideal run faster than Nio. Tesla's vehicle gross profit margin has increased to 30%, ideally more than 22%, which is better than Nio.</p><p>Generally speaking, before 2021, Nio has been the leader of the new Chinese car-making force. Whether it is new car sales, revenue scale, or brand volume, Nio ranks first. But after entering 2021, Nio's advantages are no longer so obvious.</p><p>In terms of total sales, Nio is not lower than XPeng, and it has been at the bottom of \"Wei Xiaoli\" for five consecutive months; As far as bicycle sales are concerned, the sales volume of every car in Nio is not high. Since the end of last year, when Nio announced the monthly delivery volume, it began to only give a total figure and no longer give details; In terms of building momentum, XPeng has lidar,<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Robot horses, even flying cars, ideally have the label of \"explosive models\", while Nio is relatively dull.</p><p>In the final analysis, there is no connection between new products.</p><p>Last year, XPeng began to deliver the world's first mass-produced model P5 equipped with lidar, and the facelifted G3i also began to be delivered, which drove XPeng's sales to continue to grow. Ideal ONE underwent a mid-term facelift in May last year, which also boosted a wave of sales. However, Nio is still the \"old three\" from beginning to end, all of which are developed based on Nio's first-generation technology platform. Neither hardware nor software has any advantages now.</p><p>If we don't enlarge our moves, Nio will be caught up. And this big move is the new model launched this year.</p><p><b>The big move is coming, can we buy the bottom of the Nio?</b></p><p>This year, Nio will launch three new models in one go-ET7, ET5, and ES7. The leading ET7 has been opened for test drives in March and will be officially delivered on March 28. So in three days, the number of mass-produced models that Nio has delivered will become four.</p><p>The ET7 was actually released as early as January 2021. This car is very different from the \"old three\". It is the first model developed based on Nio's second-generation technology platform NT2. It has all aspects such as configuration parameters. A step.</p><p>For example, finally switching to<a href=\"https://laohu8.com/S/NVDA\">Nvidia</a>The platform uses the latest Orin chips, and is directly equipped with four chips, with a computing power of up to 1016TOPS. It is currently the most powerful mass-produced mobile computing platform. It also uses solid-state batteries with a cruising range of up to 1,000 kilometers. After the new car is launched, it will fully compete with the BMW 7 Series.</p><p>Some car owners have been waiting for this car for more than a year. The latest news is that the first batch of Nio ET7 mass-produced cars have officially rolled off the assembly line and will officially start delivery on March 28. The price after subsidies is 436,600-513,400 yuan.</p><p>In addition to the ET7, Nio also launched another new car, the ET5, at the end of last year. This is a mid-sized sedan slightly lower than the ET7. The starting price after subsidies is 328,000 yuan, and it is expected to be delivered in September this year. In addition, Nio said it will also release a new model ES7 in the near future, which is a five-seater SUV and is scheduled to start delivery in the third quarter of this year.</p><p>These three new cars are all developed based on Nio's second-generation technology platform NT2. We might as well refer to them as \"New Three\" for short.</p><p>After Nio launches the \"new three items\" in one breath, it will greatly enrich the product matrix. Judging from the effect of XPeng's launch of new products last year, it should drive a wave of order growth.</p><p><img src=\"https://static.tigerbbs.com/9b1f8e356f3ceac5090bc5e1ebbd391b\" tg-width=\"1080\" tg-height=\"718\" referrerpolicy=\"no-referrer\"/></p><p>Source/<a href=\"https://laohu8.com/S/000681\">Vision china</a></p><p>In fact, Nio knows very well that the product must be upgraded. To open up the situation, we must replace the \"old three things\" with the \"new three things\", but this process is a little long.</p><p>In order to suppress this big move, Nio continues to spend money on research and development. In 2021, Nio's R&D expenditure will be 4.6 billion yuan, nearly double that of 2020. In 2018 and 2019, Nio's annual R&D expenditure was more than 4 billion yuan.</p><p>Among Wei Xiaoli, Nio is the earliest and only self-developed chip. Li Bin proposed a radical chip self-research route. The joining of Bai Jian, general manager of Xiaomi's chip and forward-looking research department, was a landmark event. Nio established his own hardware team. According to current plans, after Nvidia Orin, Nio may use self-designed core chips on next-generation models.</p><p>In addition, Nio has another move-to enter the mass market.</p><p>In this earnings conference call, Li Bin said that the new brand for the mass market is steadily advancing. At present, the core team has been established, the strategic direction has been clarified, and the first batch of products have entered the critical research and development stage. Li Bin previously said that the relationship between Nio brands and new brands in the mass market is similar to the relationship between Audi and Volkswagen, Lexus and Toyota.</p><p>Previously, Nio has been positioning itself in the high-end market, benchmarking against BBA. The new brand will further lower the price range of Nio and expand the target group.</p><p>Judging from the current layout of Nio, the centralized delivery of the \"three new items\" will be this year, and the development of the Volkswagen brand has also been put on the agenda. With the launch of these new products, Nio's product line will be more complex and can tell more stories. Nio is about to start catching up at an accelerated rate.</p><p></body></html></p>","source":"lsy1634812245056","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>If we don't make enlarged moves, Nio will be caught up</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\">\nIf we don't make enlarged moves, Nio will be caught up\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">深途</strong><span class=\"h-time small\">2022-03-26 10:19</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>The financial reports of \"Wei Xiaoli\" have been released one after another. This time, the full-year report card for 2021 is handed in. Let's take a look at this issue<a href=\"https://laohu8.com/S/NIO\">Nio</a>。</p><p>Nio's earnings report was released this morning, and it didn't have much bright spots overall. In 2021, the revenue will be 36.1 billion, the net loss will be 4 billion, and the cash on the account will be 18.3 billion, which is basically within expectations. The data for the fourth quarter of last year also came out, with a revenue of 9.9 billion and a net loss of 2.1 billion, which is indeed very \"Nio\".</p><p>What is worth paying attention to is the gross profit margin. The gross profit margin of vehicle sales was 20.9%, reaching a high level in the past two years, and the company's gross profit margin was 17.2%, which was quite satisfactory. In the third quarter of last year, Nio made a lot of money by selling new energy points, resulting in the company's gross profit margin exceeding 20%. However, this is a one-shot deal. If you don't get points to sell, the gross profit margin will quickly come down.</p><p>For more than a year, Nio has not delivered new models. Throughout 2021, Nio delivered 91,429 vehicles, maintaining its second position among the new car-making forces with a slight advantage. This is the first time that Nio has been overtaken by XPeng.</p><p>On the earnings conference call, Nio founder Li Bin also revealed some information. For example, Nio has not raised prices yet, and there is currently no idea of raising prices. Next, we will see whether the pricing policy will be adjusted according to market conditions; Nio's new brand for the mass market is steadily advancing. At present, the core team has been set up, the strategic direction has been clarified, and the first batch of products have entered the critical research and development stage.</p><p>Nio is holding back a big move, which will be released slowly this year, and Nio may be able to pull back a city.</p><p><b>Nio can't just be \"old three\"</b></p><p>There are now three models that Nio has delivered-ES8, ES6, and EC6, which will be delivered in June 2018, June 2019, and September 2020 respectively. That's the equivalent of delivering one new model every year.</p><p>But from September 2020 to now, for a year and a half, Nio has not delivered new models. It is these three cars that have shaped the brand of Nio Motors and supported a market value of more than 30 billion US dollars.</p><p>In 2021, Nio's most expensive ES8 will deliver a total of 20,050 vehicles, 41,474 ES6 vehicles and 29,905 EC6 vehicles. The three cars add up to 91,429 units, more than double that of 2020, and the growth rate is still good.</p><p><img src=\"https://static.tigerbbs.com/56687ed96956de98823e30ce823c49ee\" tg-width=\"1080\" tg-height=\"677\" referrerpolicy=\"no-referrer\"/></p><p>But compared with peers, this achievement is not outstanding-the total delivery volume was surpassed by XPeng, and the growth rate was not as good as XPeng and Ideal.</p><p>Fortunately, cars in Nio are expensive and have an advantage in income.</p><p>In 2021, Nio's total revenue will be 36.1 billion yuan, far exceeding XPeng and Ideal. Based on this calculation, Nio's bicycle income is close to 400,000 yuan. Of course, a small part of this income is generated by selling accessories and value-added services.</p><p>The fastest catch-up in terms of income is ideal. The price of Ideal ONE exceeds 300,000 yuan. Ideal's total revenue in 2021 will be 27 billion yuan, an increase of nearly two times, and the gap with Nio is narrowing.</p><p>Nio is still the biggest loser. In the four quarters of 2021, Nio's net losses were 450 million yuan, 590 million yuan, 840 million yuan, and 2.14 billion yuan respectively, and the annual net loss was 4 billion yuan. When it comes to losing money, Ideal and XPeng have never been a match for Nio.</p><p><img src=\"https://static.tigerbbs.com/c0b461fa0eeedce0414e3e9dece10659\" tg-width=\"1080\" tg-height=\"737\" referrerpolicy=\"no-referrer\"/></p><p>From the operational level, we can still see some positive signals. For example, Nio's gross profit margin has been improving. The gross profit margin of vehicle sales can basically remain above 20% in the four quarters of 2021, while the average value of this data in 2020 is less than 10%. In addition, the company's gross profit margin has remained above 17% last year, which is the basis for Nio to make money in the future.</p><p><img src=\"https://static.tigerbbs.com/558cd217755a9f5a13032691fd808710\" tg-width=\"1080\" tg-height=\"688\" referrerpolicy=\"no-referrer\"/></p><p>But there is a contrast that makes a difference. On the gross profit margin,<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>And Ideal run faster than Nio. Tesla's vehicle gross profit margin has increased to 30%, ideally more than 22%, which is better than Nio.</p><p>Generally speaking, before 2021, Nio has been the leader of the new Chinese car-making force. Whether it is new car sales, revenue scale, or brand volume, Nio ranks first. But after entering 2021, Nio's advantages are no longer so obvious.</p><p>In terms of total sales, Nio is not lower than XPeng, and it has been at the bottom of \"Wei Xiaoli\" for five consecutive months; As far as bicycle sales are concerned, the sales volume of every car in Nio is not high. Since the end of last year, when Nio announced the monthly delivery volume, it began to only give a total figure and no longer give details; In terms of building momentum, XPeng has lidar,<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Robot horses, even flying cars, ideally have the label of \"explosive models\", while Nio is relatively dull.</p><p>In the final analysis, there is no connection between new products.</p><p>Last year, XPeng began to deliver the world's first mass-produced model P5 equipped with lidar, and the facelifted G3i also began to be delivered, which drove XPeng's sales to continue to grow. Ideal ONE underwent a mid-term facelift in May last year, which also boosted a wave of sales. However, Nio is still the \"old three\" from beginning to end, all of which are developed based on Nio's first-generation technology platform. Neither hardware nor software has any advantages now.</p><p>If we don't enlarge our moves, Nio will be caught up. And this big move is the new model launched this year.</p><p><b>The big move is coming, can we buy the bottom of the Nio?</b></p><p>This year, Nio will launch three new models in one go-ET7, ET5, and ES7. The leading ET7 has been opened for test drives in March and will be officially delivered on March 28. So in three days, the number of mass-produced models that Nio has delivered will become four.</p><p>The ET7 was actually released as early as January 2021. This car is very different from the \"old three\". It is the first model developed based on Nio's second-generation technology platform NT2. It has all aspects such as configuration parameters. A step.</p><p>For example, finally switching to<a href=\"https://laohu8.com/S/NVDA\">Nvidia</a>The platform uses the latest Orin chips, and is directly equipped with four chips, with a computing power of up to 1016TOPS. It is currently the most powerful mass-produced mobile computing platform. It also uses solid-state batteries with a cruising range of up to 1,000 kilometers. After the new car is launched, it will fully compete with the BMW 7 Series.</p><p>Some car owners have been waiting for this car for more than a year. The latest news is that the first batch of Nio ET7 mass-produced cars have officially rolled off the assembly line and will officially start delivery on March 28. The price after subsidies is 436,600-513,400 yuan.</p><p>In addition to the ET7, Nio also launched another new car, the ET5, at the end of last year. This is a mid-sized sedan slightly lower than the ET7. The starting price after subsidies is 328,000 yuan, and it is expected to be delivered in September this year. In addition, Nio said it will also release a new model ES7 in the near future, which is a five-seater SUV and is scheduled to start delivery in the third quarter of this year.</p><p>These three new cars are all developed based on Nio's second-generation technology platform NT2. We might as well refer to them as \"New Three\" for short.</p><p>After Nio launches the \"new three items\" in one breath, it will greatly enrich the product matrix. Judging from the effect of XPeng's launch of new products last year, it should drive a wave of order growth.</p><p><img src=\"https://static.tigerbbs.com/9b1f8e356f3ceac5090bc5e1ebbd391b\" tg-width=\"1080\" tg-height=\"718\" referrerpolicy=\"no-referrer\"/></p><p>Source/<a href=\"https://laohu8.com/S/000681\">Vision china</a></p><p>In fact, Nio knows very well that the product must be upgraded. To open up the situation, we must replace the \"old three things\" with the \"new three things\", but this process is a little long.</p><p>In order to suppress this big move, Nio continues to spend money on research and development. In 2021, Nio's R&D expenditure will be 4.6 billion yuan, nearly double that of 2020. In 2018 and 2019, Nio's annual R&D expenditure was more than 4 billion yuan.</p><p>Among Wei Xiaoli, Nio is the earliest and only self-developed chip. Li Bin proposed a radical chip self-research route. The joining of Bai Jian, general manager of Xiaomi's chip and forward-looking research department, was a landmark event. Nio established his own hardware team. According to current plans, after Nvidia Orin, Nio may use self-designed core chips on next-generation models.</p><p>In addition, Nio has another move-to enter the mass market.</p><p>In this earnings conference call, Li Bin said that the new brand for the mass market is steadily advancing. At present, the core team has been established, the strategic direction has been clarified, and the first batch of products have entered the critical research and development stage. Li Bin previously said that the relationship between Nio brands and new brands in the mass market is similar to the relationship between Audi and Volkswagen, Lexus and Toyota.</p><p>Previously, Nio has been positioning itself in the high-end market, benchmarking against BBA. The new brand will further lower the price range of Nio and expand the target group.</p><p>Judging from the current layout of Nio, the centralized delivery of the \"three new items\" will be this year, and the development of the Volkswagen brand has also been put on the agenda. With the launch of these new products, Nio's product line will be more complex and can tell more stories. Nio is about to start catching up at an accelerated rate.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/oCdo2iWyj0rmj0gNove4Ug\">深途</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/1f36b37eb8e9efe8641c7be55a7da26d","relate_stocks":{"BK4505":"高瓴资本持仓","BK4548":"巴美列捷福持仓","BK4534":"瑞士信贷持仓","BK4532":"文艺复兴科技持仓","NIO":"蔚来","BK4509":"腾讯概念","BK4555":"新能源车","BK4504":"桥水持仓","BK4526":"热门中概股","BK4531":"中概回港概念","BK4099":"汽车制造商","EVS.SI":"MSCI China Electric Vehicles and Future Mobility ETF-NikkoAM"},"source_url":"https://mp.weixin.qq.com/s/oCdo2iWyj0rmj0gNove4Ug","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157034832","content_text":"“蔚小理”的财报陆续出炉了，这次交上的是2021年的全年成绩单，这一期我们看看蔚来。蔚来财报今天早上发布，整体上并无太大亮点。2021年收入361亿，净亏损40亿，账上现金183亿，基本都在预料之内。去年四季度的数据也出来了，收入99亿，净亏损21亿，的确很“蔚来”。值得关注的是毛利率。车辆销售毛利率20.9%，达到了过去两年的高位，公司毛利率17.2%，中规中矩。去年三季度，蔚来靠卖新能源积分，赚了一大笔钱，导致公司毛利率超过了20%。不过这是一锤子买卖，没得积分卖，毛利率很快就下来了。在过去一年多时间，蔚来都没有交付新车型。整个2021年，蔚来交付了91429辆车，以微弱优势保住了造车新势力第二的位置。这是蔚来头一回被小鹏反超。财报电话会议上，蔚来创始人李斌还透露了一些信息，比如目前蔚来还没有提价，当前没有提价的想法，接下来会根据市场情况来看定价政策是否调整；蔚来面向大众市场的新品牌稳步推进，目前核心团队已经组建完成，战略方向已经明确，首批产品已经进入关键研发阶段。蔚来在憋一个大招，这个大招将在今年慢慢放出来，蔚来或许能借此扳回一城。蔚来不能只有“老三样”蔚来已经交付的车型，现在一共有三款——ES8、ES6、EC6，分别于2018年6月、2019年6月、2020年9月开始交付。相当于每年交付一款新车型。但是从2020年9月至今，一年半的时间里，蔚来一直没有交付新车型。就是这三款车，塑造了蔚来汽车的品牌，撑起了300多亿美元的市值。2021年，蔚来售价最贵的ES8，一共交付20050辆，销量担当ES6交付41474辆，EC6交付29905辆。三款车加起来一共91429辆，比2020年翻了一倍多，增速还是不错的。但是跟同行相比，这个成绩不算突出——总交付量被小鹏超过了，增速也不敌小鹏和理想。好在蔚来的车卖的贵，在收入上有优势。2021年蔚来总收入361亿元，远超小鹏和理想。以此算下来，蔚来的单车收入接近40万元。当然，这其中还有少部分收入是卖配件、增值服务产生的。在收入上追赶最快的是理想。理想ONE的售价超过30万元。2021年理想的总收入为270亿元，增长近两倍，与蔚来的差距在缩小。蔚来依然是亏损最多的。2021年的四个季度，蔚来分别净亏损4.5亿元、5.9亿元、8.4亿元、21.4亿元，全年净亏损40亿元。论亏钱，理想和小鹏从来都不是蔚来的对手。从经营层面，还是能看到一些积极信号，比如蔚来的毛利率一直在改善。车辆销售毛利率在2021年的四个季度基本能维持在20%以上，而2020年这个数据的平均值不到10%。另外，公司毛利率去年一直维持在17%以上，这是蔚来在未来赚钱的基础。但有对比才有差别。在毛利率这一点上，特斯拉和理想要比蔚来跑得更快。特斯拉的车辆毛利率已经提升至30%，理想超过22%，都要优于蔚来。总体而言，2021年以前，蔚来一直是中国造车新势力的老大。不论是新车销量，还是收入规模，亦或品牌声量，蔚来都是第一。但进入2021年以后，蔚来的各项优势不再那么明显。论总销量，蔚来不低小鹏，而且已经连续五个月在“蔚小理”中垫底；论单车销量，蔚来的每一款车销量都不高，从去年底开始，蔚来在公布每个月交付量时，开始只给一个总数字，不再给明细；论造势，小鹏有激光雷达、智能机器马，甚至飞行汽车，理想也有“爆款”的标签，蔚来相对平淡很多。归根到底还是新产品没有衔接上。去年小鹏开始交付全球首款搭载激光雷达的量产车型P5，改款的G3i也开始交付，这带动小鹏的销量持续增长。理想ONE在去年5月进行中期改款，也拉了一波销量。但蔚来至始至终都还是“老三样”，都是基于蔚来第一代技术平台开发，不论是硬件还是软件，现在都不具备优势。再不放大招，蔚来要被追上了。而这个大招，就是今年上市的新车型。大招来了，可以抄底蔚来了吗？今年，蔚来要一口气上市三款新车型——ET7、ET5、ES7。打头阵的ET7，3月已经开放试驾，并将在3月28日开始正式交付。所以3天后，蔚来已经交付的量产车型，将变成四款。ET7其实早在2021年1月就发布了，这款车跟“老三样”有很大不同，它是基于蔚来第二代技术平台NT2开发的首款车型，在配置参数等各方面都上了一个台阶。比如终于切换到英伟达平台，用的是最新的Orin芯片，而且直接配备了四颗，算力高达1016TOPS，是目前最强大的量产移动计算平台，还采用了固态电池，续航里程最高可达到1000公里。新车上市后将全面对标宝马7系。有车主为了这款车，等了整整一年多。最新的消息是，蔚来ET7首批量产车已经正式下线，并将在3月28日正式开启交付，补贴后售价43.66-51.34万元。除了ET7，蔚来还在去年底推出了另一款新车ET5，这是一款比ET7略低一档的中型轿车，补贴后起售价为32.8万元，预计将在今年9月开始交付。另外，蔚来表示还将在近期发布新车型ES7，这是一款五座SUV，计划于今年三季度开启交付。这三款新车，都是基于蔚来第二代技术平台NT2开发，我们不妨将之简称为“新三样”。蔚来一口气推出“新三样”之后，将大大丰富产品矩阵。按照去年小鹏推新品的效果来看，应该会拉动一波订单增长。来源 / 视觉中国蔚来其实很清楚，产品必须得升级了。要打开局面，必须得用“新三样”替换“老三样”，只不过这个过程略显漫长。为了憋这个大招，蔚来继续在研发上砸钱。2021年蔚来研发开支46亿元，相比2020年近乎翻倍。2018年和2019年，蔚来每年的研发开支都在40亿元以上。在蔚小理中，蔚来是最早也是唯一一个自研芯片的。李斌提出了激进的芯片自研路线，小米芯片和前瞻研究部门总经理白剑的加盟是一个标志性事件，蔚来组建了自己的硬件团队。按照目前的规划，在英伟达Orin之后，蔚来有可能会在下一代车型上使用自行设计的核心芯片。另外，蔚来还有一步棋——进军大众市场。在这次的财报电话会上，李斌表示，面向大众市场的新品牌稳步推进，目前核心团队已经组建完成，战略方向已经明确，首批产品已经进入关键研发阶段。此前李斌曾说，蔚来品牌与大众市场新品牌的关系类似于奥迪与大众、雷克萨斯与丰田的关系。此前蔚来一直定位高端市场，对标BBA，新品牌将把蔚来的价格区间进一步拉低，面向的目标人群也会扩大。从当前蔚来的布局来看，“新三样”的集中交付都会在今年，大众品牌的开发也已经提上日程。随着这些新产品面世，蔚来的产品线会更加复杂，能讲的故事也会更多。蔚来要开始加速追赶了。","news_type":1,"symbols_score_info":{"EVS.SI":0.9,"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":404,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":899452980,"gmtCreate":1628212272240,"gmtModify":1703503201326,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"b","listText":"b","text":"b","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/899452980","repostId":"1109582203","repostType":4,"isVote":1,"tweetType":1,"viewCount":577,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":130090914,"gmtCreate":1621491962038,"gmtModify":1704358504373,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"I f","listText":"I f","text":"I f","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/130090914","repostId":"1115338078","repostType":4,"repost":{"id":"1115338078","kind":"news","pubTimestamp":1621490918,"share":"https://ttm.financial/m/news/1115338078?lang=en_US&edition=fundamental","pubTime":"2021-05-20 14:08","market":"sh","language":"zh","title":"Shenzhen SEG Plaza is suspected of shaking again, management office: high-rise merchants have been notified to go downstairs","url":"https://stock-news.laohu8.com/highlight/detail?id=1115338078","media":"封面新闻","summary":"5月20日中午，多位深圳赛格大厦商户向封面新闻记者表示20日12时30分左右在35楼、55楼、60楼等多个楼层感受到晃动，商户向记者提供的视频显示，有鱼缸内的水、落地电风扇有明显摇晃，有保安在通知高层","content":"<p>At noon on May 20th, a number of SEG Plaza merchants told the cover journalist that they felt shaking on the 35th, 55th and 60th floors around 12: 30 on the 20th. The video provided by the merchants to the reporters showed that the water in the fish tank and the floor-to-ceiling electric fan were obviously shaking, and security guards were informing the high-rise merchants to evacuate.</p><p><img src=\"https://static.tigerbbs.com/c9e7765bdddd97b039f87072d8b6813f\" tg-width=\"640\" tg-height=\"767\" referrerpolicy=\"no-referrer\"></p><p>Screenshot of video provided by merchants on May 20th</p><p>At around 13: 00 on the 20th, the cover journalist called SEG Plaza on duty and learned that the staff had been arranged to inform the high-rise merchants to go downstairs.</p><p>At 12: 31 on May 18th, the staff on duty in SEG Plaza received a report from the tenant that the building was shaking. The building management office quickly informed the people in the building of emergency evacuation through floor broadcast, and arranged for staff to guide the people to evacuate in an orderly manner.</p><p><img src=\"https://static.tigerbbs.com/da9d6ebb8c37ff181e46e4f757ecf0af\" tg-width=\"640\" tg-height=\"359\" referrerpolicy=\"no-referrer\"></p><p>Aerial photography of SEG Building on May 19th.</p><p>According to the official report of Shenzhen on the evening of May 19th, entrusted by the Shenzhen Municipal Housing and Construction Department, from 21:00 pm on May 18th to 15:00 pm on May 19th, a number of professional institutions conducted real-time monitoring of the vibration, tilt and settlement of the SEG Plaza. These three indicators were far less than the allowable values of the specification, and the monitoring data showed no abnormalities. At present, no safety abnormalities have been found in the main structure of the building and its surrounding environment, and the main structure of the building is safe. The specific cause of the vibration is under further verification.</p>","source":"fmxw","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>Shenzhen SEG Plaza is suspected of shaking again, management office: high-rise merchants have been notified to go downstairs</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\">\nShenzhen SEG Plaza is suspected of shaking again, management office: high-rise merchants have been notified to go downstairs\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">封面新闻</strong><span class=\"h-time small\">2021-05-20 14:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>At noon on May 20th, a number of SEG Plaza merchants told the cover journalist that they felt shaking on the 35th, 55th and 60th floors around 12: 30 on the 20th. The video provided by the merchants to the reporters showed that the water in the fish tank and the floor-to-ceiling electric fan were obviously shaking, and security guards were informing the high-rise merchants to evacuate.</p><p><img src=\"https://static.tigerbbs.com/c9e7765bdddd97b039f87072d8b6813f\" tg-width=\"640\" tg-height=\"767\" referrerpolicy=\"no-referrer\"></p><p>Screenshot of video provided by merchants on May 20th</p><p>At around 13: 00 on the 20th, the cover journalist called SEG Plaza on duty and learned that the staff had been arranged to inform the high-rise merchants to go downstairs.</p><p>At 12: 31 on May 18th, the staff on duty in SEG Plaza received a report from the tenant that the building was shaking. The building management office quickly informed the people in the building of emergency evacuation through floor broadcast, and arranged for staff to guide the people to evacuate in an orderly manner.</p><p><img src=\"https://static.tigerbbs.com/da9d6ebb8c37ff181e46e4f757ecf0af\" tg-width=\"640\" tg-height=\"359\" referrerpolicy=\"no-referrer\"></p><p>Aerial photography of SEG Building on May 19th.</p><p>According to the official report of Shenzhen on the evening of May 19th, entrusted by the Shenzhen Municipal Housing and Construction Department, from 21:00 pm on May 18th to 15:00 pm on May 19th, a number of professional institutions conducted real-time monitoring of the vibration, tilt and settlement of the SEG Plaza. These three indicators were far less than the allowable values of the specification, and the monitoring data showed no abnormalities. At present, no safety abnormalities have been found in the main structure of the building and its surrounding environment, and the main structure of the building is safe. The specific cause of the vibration is under further verification.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mbd.baidu.com/newspage/data/landingsuper?context=%7B%22nid%22%3A%22news_8694115307009371925%22%7D&n_type=-1&p_from=-1\">封面新闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/da9d6ebb8c37ff181e46e4f757ecf0af","relate_stocks":{},"source_url":"https://mbd.baidu.com/newspage/data/landingsuper?context=%7B%22nid%22%3A%22news_8694115307009371925%22%7D&n_type=-1&p_from=-1","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115338078","content_text":"5月20日中午，多位深圳赛格大厦商户向封面新闻记者表示20日12时30分左右在35楼、55楼、60楼等多个楼层感受到晃动，商户向记者提供的视频显示，有鱼缸内的水、落地电风扇有明显摇晃，有保安在通知高层商户向下撤离。5月20日商户提供的视频截图20日13时左右，封面新闻记者致电赛格广场值班电话了解到，已安排工作人员通知高层商户下楼。5月18日12点31分，赛格广场值班人员接到租户反映感觉大楼晃动，大楼管理处迅速通过楼层广播通知楼内人员应急疏散，并安排工作人员引导人员有序撤离。5月19日赛格大厦航拍。据深圳官方5月19日晚通报称，受深圳市住建部门委托，5月18日晚上21时至19日下午15时，多家专业机构对赛格大厦的振动、倾斜、沉降等情况进行实时监测，该三项指标均远远小于规范允许值，监测数据未显示异常情况。目前，大厦主体结构及周边环境未发现涉及安全异常情况，大厦主体结构安全。产生震动的具体原因正进一步核查中。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":645,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":191819910,"gmtCreate":1620868711430,"gmtModify":1704349533508,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"D","listText":"D","text":"D","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/191819910","repostId":"1123721888","repostType":4,"repost":{"id":"1123721888","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":1620812439,"share":"https://ttm.financial/m/news/1123721888?lang=en_US&edition=fundamental","pubTime":"2021-05-12 17:40","market":"us","language":"zh","title":"Tiger Securities was included in the MSCI China All-Stock Index!","url":"https://stock-news.laohu8.com/highlight/detail?id=1123721888","media":"老虎资讯综合","summary":"此次被纳入MSCI意味着国际资本市场对老虎证券的认可和信心！","content":"<p>According to news on May 11, the international index compilation company MSCI announced the quarterly adjustment results of the index in May. Among them,<a href=\"https://laohu8.com/S/TIGR\">Tiger Securities</a>Included in the MSCI China All Shares Index (MSCI China All Shares Index) will take effect after the market closes on May 27.</p><p>Wu Tianhua, founder and CEO of Tiger Securities, said: \"Tiger Securities' inclusion in the MSCI China All-Stock Index represents the recognition and confidence of the international market in our long-term investment value and development prospects. Tiger Securities' mission is to make investment better with technology. Through continuous technological iteration, we are committed to providing investors with a more efficient, convenient and smooth one-stop global investment experience. As Tiger enters Singapore, the United States and other countries and regions, we look forward to serving more global users. \"<img src=\"https://static.tigerbbs.com/6cac618ec6413c15fd5aad09ee702621\" tg-width=\"405\" tg-height=\"720\" referrerpolicy=\"no-referrer\">MSCI (morgan stanley capital international) is currently the most important index company in the world. It compiles hundreds of indexes in various markets around the world, and is used as an investment benchmark and tracked by a large number of international institutions and investors. Since the release of the first index in 1969, MSCI has mainly provided products and services such as indexes, risk portfolios and performance analysis tools, and corporate governance tools according to different countries and regions, market sizes, industries and investment methods. Approximately US $10 trillion in the world's assets are benchmarked against the MSCI index, and 97 of the world's top 100 largest asset managers are MSCI clients. The pension of 95% of the investment equity in the United States is benchmarked on MSCI.</p><p>The MSCI China All Shares Index, compiled by MSCI, is the most important component of the MSCI Emerging Markets Index. According to the adjustment method of MSCI index, companies that can be included in its index system generally have to meet a series of requirements such as total market value, free circulation market value, liquidity and trading hours.</p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e8f2f148520e460cb20ee263c4b5fd2f\" tg-width=\"830\" tg-height=\"536\" referrerpolicy=\"no-referrer\"><span>MSCI official site</span></p><p>Historical performance of MSCI China All Shares Index:</p><p><img src=\"https://static.tigerbbs.com/6c5df675372dbd49e16da8a583e0f650\" tg-width=\"830\" tg-height=\"426\" referrerpolicy=\"no-referrer\">According to the quarterly adjustment results released by MSCI, the MSCI China All-Stock Index added 60 new stocks this time and excluded 26 stocks. So, what does being on the list mean for tigers?</p><p>It means that the recognition and confidence of Tiger Securities in the international capital market will help further expand the company's influence in the international capital market and enhance the internationalization level of the company's shareholders.</p><p>According to MSCI estimates, trillions of dollars of funds around the world track emerging market indexes, including both active funds and passive funds. Passive funds use morgan stanley capital international China All-Stock Index as their investment target. When stocks are included in the index, passive investors will allocate these new constituent stocks in proportion.</p><p>View for details:</p><p><a href=\"https://www.msci.com/eqb/gimi/stdindex/MSCI_May21_ChinaAllShares_PublicList.pdf\" target=\"_blank\">MSCI China Index Constituent Stock Adjustment Description</a></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>Tiger Securities was included in the MSCI China All-Stock Index!</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\">\nTiger Securities was included in the MSCI China All-Stock Index!\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\">2021-05-12 17:40</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>According to news on May 11, the international index compilation company MSCI announced the quarterly adjustment results of the index in May. Among them,<a href=\"https://laohu8.com/S/TIGR\">Tiger Securities</a>Included in the MSCI China All Shares Index (MSCI China All Shares Index) will take effect after the market closes on May 27.</p><p>Wu Tianhua, founder and CEO of Tiger Securities, said: \"Tiger Securities' inclusion in the MSCI China All-Stock Index represents the recognition and confidence of the international market in our long-term investment value and development prospects. Tiger Securities' mission is to make investment better with technology. Through continuous technological iteration, we are committed to providing investors with a more efficient, convenient and smooth one-stop global investment experience. As Tiger enters Singapore, the United States and other countries and regions, we look forward to serving more global users. \"<img src=\"https://static.tigerbbs.com/6cac618ec6413c15fd5aad09ee702621\" tg-width=\"405\" tg-height=\"720\" referrerpolicy=\"no-referrer\">MSCI (morgan stanley capital international) is currently the most important index company in the world. It compiles hundreds of indexes in various markets around the world, and is used as an investment benchmark and tracked by a large number of international institutions and investors. Since the release of the first index in 1969, MSCI has mainly provided products and services such as indexes, risk portfolios and performance analysis tools, and corporate governance tools according to different countries and regions, market sizes, industries and investment methods. Approximately US $10 trillion in the world's assets are benchmarked against the MSCI index, and 97 of the world's top 100 largest asset managers are MSCI clients. The pension of 95% of the investment equity in the United States is benchmarked on MSCI.</p><p>The MSCI China All Shares Index, compiled by MSCI, is the most important component of the MSCI Emerging Markets Index. According to the adjustment method of MSCI index, companies that can be included in its index system generally have to meet a series of requirements such as total market value, free circulation market value, liquidity and trading hours.</p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e8f2f148520e460cb20ee263c4b5fd2f\" tg-width=\"830\" tg-height=\"536\" referrerpolicy=\"no-referrer\"><span>MSCI official site</span></p><p>Historical performance of MSCI China All Shares Index:</p><p><img src=\"https://static.tigerbbs.com/6c5df675372dbd49e16da8a583e0f650\" tg-width=\"830\" tg-height=\"426\" referrerpolicy=\"no-referrer\">According to the quarterly adjustment results released by MSCI, the MSCI China All-Stock Index added 60 new stocks this time and excluded 26 stocks. So, what does being on the list mean for tigers?</p><p>It means that the recognition and confidence of Tiger Securities in the international capital market will help further expand the company's influence in the international capital market and enhance the internationalization level of the company's shareholders.</p><p>According to MSCI estimates, trillions of dollars of funds around the world track emerging market indexes, including both active funds and passive funds. Passive funds use morgan stanley capital international China All-Stock Index as their investment target. When stocks are included in the index, passive investors will allocate these new constituent stocks in proportion.</p><p>View for details:</p><p><a href=\"https://www.msci.com/eqb/gimi/stdindex/MSCI_May21_ChinaAllShares_PublicList.pdf\" target=\"_blank\">MSCI China Index Constituent Stock Adjustment Description</a></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9e4b807dafecc161ebbd0d3c42055f20","relate_stocks":{"TIGR":"老虎证券"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1123721888","content_text":"5月11日消息，国际指数编制公司MSCI公布5月指数季度调整结果，其中，老虎证券获纳入MSCI中国全股票指数（MSCI China All Shares Index），将于5月27日收盘后生效。老虎证券创始人及CEO巫天华表示：“老虎证券获纳入MSCI中国全股票指数代表国际市场对我们长期投资价值和发展前景的认可和信心。老虎证券的使命是科技让投资更美好。通过不断技术迭代，我们致力于为投资者提供更高效、便捷、流畅的一站式全球投资体验。随着老虎进入新加坡，美国等国家和地区，我们期待服务更多全球用户。”MSCI（明晟）是目前全球最重要的指数公司，编制数百种全球各个市场的指数，被大量国际机构，投资者作为投资基准并跟踪。从 1969年发布第一只指数至今，MSCI按照国家和区域、市场规模大小、行业及投资方式的不同，主要提供指数、风险组合和业绩分析工具以及公司治理工具等产品和服务。全球约10万亿美元的资产以MSCI指数为基准，全球前100个最大资产管理者中，97个都是MSCI的客户。美国95%的投资权益的养老金以MSCI为基准。MSCI中国全股票指数(MSCI China All Shares Index)由摩根士丹利资本国际(MSCI)编制，是 MSCI新兴市场指数中最重要的组成部分。根据 MSCI指数的调整方法，能被纳入到其指数体系的公司一般要满足总市值、自由流通市值、流动性和交易时间等一系列要求。MSCI官网明晟中国全股票指数(MSCI China All Shares Index)历史表现：根据MSCI发布的季度调整结果， MSCI中国全股票指数本次新增60只个股，剔除26只股票。那么，上榜对于老虎意味着什么呢？意味着国际资本市场对老虎证券的认可和信心，有助于进一步扩大公司国际资本市场影响力、提升公司股东国际化水平。据 MSCI估算，全球数以万亿美元的资金跟踪新兴市场指数，其中既包含了主动型资金，又包含了被动型基金，被动型资金以明晟中国全股票指数作为投资标的。当股票被纳入指数后，被动型投资者会按比例配置新增这些成份股。详情查看：MSCI中国指数成分股调整说明","news_type":1,"symbols_score_info":{"TIGR":0.9}},"isVote":1,"tweetType":1,"viewCount":534,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":105354882,"gmtCreate":1620272954246,"gmtModify":1704341160472,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/105354882","repostId":"1125870095","repostType":4,"repost":{"id":"1125870095","kind":"news","pubTimestamp":1620272002,"share":"https://ttm.financial/m/news/1125870095?lang=en_US&edition=fundamental","pubTime":"2021-05-06 11:33","market":"sh","language":"zh","title":"A piece of U.S. news caused Chinese vaccine stocks to plummet. What happened?","url":"https://stock-news.laohu8.com/highlight/detail?id=1125870095","media":"新浪港股","summary":"当地时间周三，美国宣布支持豁免新冠疫苗知识产权保护。","content":"<p>A piece of news on the other side of the Pacific triggered a global earthquake. Global vaccine stocks plummeted. The four major vaccine leaders in Hong Kong stocks plummeted by nearly 20%. What happened?</p><p><b>As the global epidemic ferments, the United States supports exempting COVID-19 vaccine's intellectual property rights</b></p><p>The global epidemic broke out and the vaccine gap was very tight. On Wednesday local time, the United States announced its support for exempting COVID-19 vaccine from intellectual property protection. U.S. Trade Representative Katherine Tai said that the United States supports the WTO exemption proposal for COVID-19 vaccine's intellectual property rights, and the Biden administration will actively participate in WTO negotiations on exemption agreements and encourage other countries to participate.</p><p><img src=\"https://static.tigerbbs.com/1109609c7bf1731060ada65943d64702\" tg-width=\"550\" tg-height=\"368\" referrerpolicy=\"no-referrer\"></p><p>Previously, American drug manufacturers had engaged in heated internal debates and vigorous counterattacks on this matter. Dai Qi said that the government's move is to popularize safe and effective vaccines as soon as possible and end the novel coronavirus pneumonia epidemic. At the same time, she said that the U.S. government will continue to strengthen cooperation with the private sector and all possible partners, expand the manufacturing and distribution of vaccines, and strive to increase the raw materials needed to produce these vaccines.</p><p>The U.S. move has the potential to expand the global supply of novel coronavirus pneumonia vaccines and narrow the vaccination gap between rich and poor countries. White House Chief of Staff Ron Ron Klain said on the 2nd that intellectual property rights are part of the global shortage of novel coronavirus pneumonia vaccines, but the bigger problem lies in the manufacturing industry. He said that the White House will reveal more information \"in the next few days\".</p><p>According to Xinhua News Agency, earlier, World Health Organization Director-General Tedros Adhanom Ghebreyesus and former British Prime Minister Gordon Brown jointly called for a temporary exemption from COVID-19 vaccine's intellectual property rights on the 3rd of this month.</p><p>Tedros Adhanom Ghebreyesus said at the online press conference held on the same day that the number of newly confirmed cases of COVID-19 reported worldwide in the past two weeks was more than that of the first six months after the outbreak began combined; India and Brazil reported more than half of the world's new infections last week, and many other countries are facing very fragile situations.</p><p>Tedros said that if the majority of adults were to be vaccinated to achieve herd immunity, the vaccines needed would be significantly more than the existing quantity; In order to increase vaccine production, it is very important to temporarily exempt vaccine intellectual property rights, and this is not a \"charity issue\".</p><p><b>The global epidemic remains high, and the epidemic breaks out in India</b></p><p>During the May Day holiday, global COVID-19 pandemic spread significantly. As of May 6, statistics released by Johns Hopkins University in the United States showed that as of 23:11 on May 5, Beijing time, the number of confirmed cases of novel coronavirus pneumonia worldwide rose to 154,469,379 cases, including 3,230,336 deaths.</p><p><img src=\"https://static.tigerbbs.com/1d98de1b70c1962668ab7254ee589a7f\" tg-width=\"512\" tg-height=\"170\" referrerpolicy=\"no-referrer\"></p><p>The epidemic situation in the United States has improved significantly compared with the peak period, but tens of thousands of people are still infected every day. A total of 32,514,808 confirmed cases in novel coronavirus pneumonia have been reported, and 578,524 patients have died. The epidemic situation in many European countries is fluctuating, and the number of confirmed cases in some countries remains high. As of press time, France has confirmed a total of 5,742,792 cases, the United Kingdom 4,439,494 cases, Italy 4,059,821 cases, Spain 3,544,945 cases, and Germany 3,462,292 cases.</p><p>Among major emerging market countries, India, where the epidemic situation has worsened recently, has shown no signs of improvement. The number of newly confirmed cases in a single day has continued to remain above 300,000, and the cumulative number of cases has reached 20,665,148. Brazil (14,122,795 cases) and Russia (4,682,573 cases) have more severe epidemics. Colombia (2,701,313 cases), Argentina (2,769,552 cases) and Mexico (2,315,811 cases) have the highest number of confirmed cases in the Americas.</p><p>At present, India has become the global epidemic outlet. According to the data released by the Ministry of Health of India, at 9: 00 a.m. on May 4th, India became the second country after the United States with a cumulative number of confirmed cases exceeding 20 million. The latest figure is that as of 6 pm on the 5th, the cumulative number of confirmed cases of novel coronavirus pneumonia in India reached 20.66 million.</p><p>Xinhua News Agency issued an article that just as people focused on the epidemic in India, the epidemic in neighboring Nepal also deteriorated sharply. As of 6 pm on the 5th, the cumulative number of confirmed cases in Nepal exceeded 350,000.</p><p>According to foreign media reports, the medical system in this country with a population of less than 30 million is already overwhelmed. Like India, Nepal is in short supply of medical supplies such as hospital beds and oxygen.</p><p>In fact, not only India and Nepal, but also countries from Laos, Cambodia and Thailand in Southeast Asia to Bhutan bordering India are also facing a new wave of epidemics.</p><p>Bloomberg's month-on-month epidemic statistics show that Laos has the highest increase, followed by Nepal and Thailand-new cases in April soared about 10 times compared with March.</p><p><b>The four major vaccine leaders in Hong Kong stocks plummeted, evaporating more than 40 billion yuan</b></p><p>Affected by the news that the United States stated that it would give up novel coronavirus pneumonia's vaccine patent, many U.S. vaccine concept stocks fell.</p><p><img src=\"https://static.tigerbbs.com/1a902ba42db2671f804bfbff23f5c894\" tg-width=\"550\" tg-height=\"377\" referrerpolicy=\"no-referrer\"></p><p>In the large market capitalization vaccine valley of the U.S. stock market, Moderna fell by more than 6%, its market value evaporated by US $4.3 billion, or about 28 billion yuan, and Biotech fell by more than 3%.<a href=\"https://laohu8.com/S/JNJ\">Johnson Johnson</a>It fell slightly by 0.42%.</p><p>News from the other side of the Pacific triggered a huge shock in Chinese vaccine stocks. In the A-share market,<a href=\"https://laohu8.com/S/300142\">Watson Bio</a>Plummeted 13%,<a href=\"https://laohu8.com/S/300122\">Zhifei Biotech</a>It fell more than 11%, and Minova and Fosun Pharma fell by the limit.</p><p><img src=\"https://static.tigerbbs.com/1f21a4c7d6aa9c56d008e3783d1f2c76\" tg-width=\"550\" tg-height=\"245\" referrerpolicy=\"no-referrer\"></p><p>In the Hong Kong stock market, a market value of 100 billion<a href=\"https://laohu8.com/S/06185\">CanSino Biologics</a>There was a panic sell-off, once plummeting by more than 20%, with a market value of 100 billion<a href=\"https://laohu8.com/S/600196\">Fosun Pharma</a>Fell nearly 19%, with a market value of 100 billion<a href=\"https://laohu8.com/S/01177\">China Biopharmaceuticals</a>Fell nearly 4%. As of press time, the market value of CanSino Biologics's A-shares has evaporated by 8.2 billion yuan, and that of H-shares has evaporated by 8.1 billion Hong Kong dollars, with a total evaporation of 15 billion yuan;<a href=\"https://laohu8.com/S/02196\">Fosun Pharma</a>A-shares evaporated by 12 billion yuan, and Fosun Pharma's H-shares evaporated by 5.8 billion Hong Kong dollars, with a total evaporation of 16.8 billion yuan; China Biopharmaceuticals evaporated HK $7.2 billion, equivalent to 6 billion yuan. The total market value of the three leading companies has evaporated by nearly 40 billion yuan.</p><p><img src=\"https://static.tigerbbs.com/c35962533f9acc546f82749f63898df0\" tg-width=\"550\" tg-height=\"186\" referrerpolicy=\"no-referrer\"></p><p>Some market analysts said that the effect of mRNA on mutated Novel Coronavirus is not obvious. Now even Biden himself is worried about the Indian virus being introduced into the United States. Some analysts believe that the United States' statement of giving up vaccine patents is now skeptical, and we will see when it is realized, and whether additional conditions will be realized.</p><p>Yan Zhaojun, a strategist at Zhongtai International, said that the United States' support for exempting COVID-19 vaccine's intellectual property rights is based on humanitarian and long-term economic considerations. At present, there is a shortage of vaccines in emerging markets and underdeveloped countries. The abandonment of vaccine intellectual property rights by the United States can allow overseas regions to speed up vaccine production progress and accelerate the normalization of global economic activities, but it does not rule out that it will be negative for concept stocks in the short term.</p>","source":"highlight_sina","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>A piece of U.S. news caused Chinese vaccine stocks to plummet. What happened?</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\">\nA piece of U.S. news caused Chinese vaccine stocks to plummet. What happened?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪港股</strong><span class=\"h-time small\">2021-05-06 11:33</span>\n</p>\n</h4>\n</header>\n<article>\n<p>A piece of news on the other side of the Pacific triggered a global earthquake. Global vaccine stocks plummeted. The four major vaccine leaders in Hong Kong stocks plummeted by nearly 20%. What happened?</p><p><b>As the global epidemic ferments, the United States supports exempting COVID-19 vaccine's intellectual property rights</b></p><p>The global epidemic broke out and the vaccine gap was very tight. On Wednesday local time, the United States announced its support for exempting COVID-19 vaccine from intellectual property protection. U.S. Trade Representative Katherine Tai said that the United States supports the WTO exemption proposal for COVID-19 vaccine's intellectual property rights, and the Biden administration will actively participate in WTO negotiations on exemption agreements and encourage other countries to participate.</p><p><img src=\"https://static.tigerbbs.com/1109609c7bf1731060ada65943d64702\" tg-width=\"550\" tg-height=\"368\" referrerpolicy=\"no-referrer\"></p><p>Previously, American drug manufacturers had engaged in heated internal debates and vigorous counterattacks on this matter. Dai Qi said that the government's move is to popularize safe and effective vaccines as soon as possible and end the novel coronavirus pneumonia epidemic. At the same time, she said that the U.S. government will continue to strengthen cooperation with the private sector and all possible partners, expand the manufacturing and distribution of vaccines, and strive to increase the raw materials needed to produce these vaccines.</p><p>The U.S. move has the potential to expand the global supply of novel coronavirus pneumonia vaccines and narrow the vaccination gap between rich and poor countries. White House Chief of Staff Ron Ron Klain said on the 2nd that intellectual property rights are part of the global shortage of novel coronavirus pneumonia vaccines, but the bigger problem lies in the manufacturing industry. He said that the White House will reveal more information \"in the next few days\".</p><p>According to Xinhua News Agency, earlier, World Health Organization Director-General Tedros Adhanom Ghebreyesus and former British Prime Minister Gordon Brown jointly called for a temporary exemption from COVID-19 vaccine's intellectual property rights on the 3rd of this month.</p><p>Tedros Adhanom Ghebreyesus said at the online press conference held on the same day that the number of newly confirmed cases of COVID-19 reported worldwide in the past two weeks was more than that of the first six months after the outbreak began combined; India and Brazil reported more than half of the world's new infections last week, and many other countries are facing very fragile situations.</p><p>Tedros said that if the majority of adults were to be vaccinated to achieve herd immunity, the vaccines needed would be significantly more than the existing quantity; In order to increase vaccine production, it is very important to temporarily exempt vaccine intellectual property rights, and this is not a \"charity issue\".</p><p><b>The global epidemic remains high, and the epidemic breaks out in India</b></p><p>During the May Day holiday, global COVID-19 pandemic spread significantly. As of May 6, statistics released by Johns Hopkins University in the United States showed that as of 23:11 on May 5, Beijing time, the number of confirmed cases of novel coronavirus pneumonia worldwide rose to 154,469,379 cases, including 3,230,336 deaths.</p><p><img src=\"https://static.tigerbbs.com/1d98de1b70c1962668ab7254ee589a7f\" tg-width=\"512\" tg-height=\"170\" referrerpolicy=\"no-referrer\"></p><p>The epidemic situation in the United States has improved significantly compared with the peak period, but tens of thousands of people are still infected every day. A total of 32,514,808 confirmed cases in novel coronavirus pneumonia have been reported, and 578,524 patients have died. The epidemic situation in many European countries is fluctuating, and the number of confirmed cases in some countries remains high. As of press time, France has confirmed a total of 5,742,792 cases, the United Kingdom 4,439,494 cases, Italy 4,059,821 cases, Spain 3,544,945 cases, and Germany 3,462,292 cases.</p><p>Among major emerging market countries, India, where the epidemic situation has worsened recently, has shown no signs of improvement. The number of newly confirmed cases in a single day has continued to remain above 300,000, and the cumulative number of cases has reached 20,665,148. Brazil (14,122,795 cases) and Russia (4,682,573 cases) have more severe epidemics. Colombia (2,701,313 cases), Argentina (2,769,552 cases) and Mexico (2,315,811 cases) have the highest number of confirmed cases in the Americas.</p><p>At present, India has become the global epidemic outlet. According to the data released by the Ministry of Health of India, at 9: 00 a.m. on May 4th, India became the second country after the United States with a cumulative number of confirmed cases exceeding 20 million. The latest figure is that as of 6 pm on the 5th, the cumulative number of confirmed cases of novel coronavirus pneumonia in India reached 20.66 million.</p><p>Xinhua News Agency issued an article that just as people focused on the epidemic in India, the epidemic in neighboring Nepal also deteriorated sharply. As of 6 pm on the 5th, the cumulative number of confirmed cases in Nepal exceeded 350,000.</p><p>According to foreign media reports, the medical system in this country with a population of less than 30 million is already overwhelmed. Like India, Nepal is in short supply of medical supplies such as hospital beds and oxygen.</p><p>In fact, not only India and Nepal, but also countries from Laos, Cambodia and Thailand in Southeast Asia to Bhutan bordering India are also facing a new wave of epidemics.</p><p>Bloomberg's month-on-month epidemic statistics show that Laos has the highest increase, followed by Nepal and Thailand-new cases in April soared about 10 times compared with March.</p><p><b>The four major vaccine leaders in Hong Kong stocks plummeted, evaporating more than 40 billion yuan</b></p><p>Affected by the news that the United States stated that it would give up novel coronavirus pneumonia's vaccine patent, many U.S. vaccine concept stocks fell.</p><p><img src=\"https://static.tigerbbs.com/1a902ba42db2671f804bfbff23f5c894\" tg-width=\"550\" tg-height=\"377\" referrerpolicy=\"no-referrer\"></p><p>In the large market capitalization vaccine valley of the U.S. stock market, Moderna fell by more than 6%, its market value evaporated by US $4.3 billion, or about 28 billion yuan, and Biotech fell by more than 3%.<a href=\"https://laohu8.com/S/JNJ\">Johnson Johnson</a>It fell slightly by 0.42%.</p><p>News from the other side of the Pacific triggered a huge shock in Chinese vaccine stocks. In the A-share market,<a href=\"https://laohu8.com/S/300142\">Watson Bio</a>Plummeted 13%,<a href=\"https://laohu8.com/S/300122\">Zhifei Biotech</a>It fell more than 11%, and Minova and Fosun Pharma fell by the limit.</p><p><img src=\"https://static.tigerbbs.com/1f21a4c7d6aa9c56d008e3783d1f2c76\" tg-width=\"550\" tg-height=\"245\" referrerpolicy=\"no-referrer\"></p><p>In the Hong Kong stock market, a market value of 100 billion<a href=\"https://laohu8.com/S/06185\">CanSino Biologics</a>There was a panic sell-off, once plummeting by more than 20%, with a market value of 100 billion<a href=\"https://laohu8.com/S/600196\">Fosun Pharma</a>Fell nearly 19%, with a market value of 100 billion<a href=\"https://laohu8.com/S/01177\">China Biopharmaceuticals</a>Fell nearly 4%. As of press time, the market value of CanSino Biologics's A-shares has evaporated by 8.2 billion yuan, and that of H-shares has evaporated by 8.1 billion Hong Kong dollars, with a total evaporation of 15 billion yuan;<a href=\"https://laohu8.com/S/02196\">Fosun Pharma</a>A-shares evaporated by 12 billion yuan, and Fosun Pharma's H-shares evaporated by 5.8 billion Hong Kong dollars, with a total evaporation of 16.8 billion yuan; China Biopharmaceuticals evaporated HK $7.2 billion, equivalent to 6 billion yuan. The total market value of the three leading companies has evaporated by nearly 40 billion yuan.</p><p><img src=\"https://static.tigerbbs.com/c35962533f9acc546f82749f63898df0\" tg-width=\"550\" tg-height=\"186\" referrerpolicy=\"no-referrer\"></p><p>Some market analysts said that the effect of mRNA on mutated Novel Coronavirus is not obvious. Now even Biden himself is worried about the Indian virus being introduced into the United States. Some analysts believe that the United States' statement of giving up vaccine patents is now skeptical, and we will see when it is realized, and whether additional conditions will be realized.</p><p>Yan Zhaojun, a strategist at Zhongtai International, said that the United States' support for exempting COVID-19 vaccine's intellectual property rights is based on humanitarian and long-term economic considerations. At present, there is a shortage of vaccines in emerging markets and underdeveloped countries. The abandonment of vaccine intellectual property rights by the United States can allow overseas regions to speed up vaccine production progress and accelerate the normalization of global economic activities, but it does not rule out that it will be negative for concept stocks in the short term.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.sina.com.cn/stock/hkstock/hkstocknews/2021-05-06/doc-ikmxzfmm0792792.shtml\">新浪港股</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":{"300122":"智飞生物","300142":"沃森生物","02196":"复星医药","01177":"中国生物制药","06185":"康希诺生物"},"source_url":"https://finance.sina.com.cn/stock/hkstock/hkstocknews/2021-05-06/doc-ikmxzfmm0792792.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","article_id":"1125870095","content_text":"太平洋彼岸一则消息引发全球巨震，全球疫苗股狂跌，港股四大疫苗龙头直接狂跌近20%，发生了什么？全球疫情发酵，美国支持豁免新冠疫苗知识产权全球疫情大爆发，疫苗缺口非常紧张，当地时间周三，美国宣布支持豁免新冠疫苗知识产权保护。美国贸易代表戴琪（Katherine Tai）表示，美国支持WTO对新冠疫苗知识产权的豁免建议，拜登政府将积极参加WTO有关豁免协议的谈判，并鼓励其他国家参与进来。此前，美国制药商曾就此事进行了激烈的内部辩论和大力反击。戴琪表示，政府此举是为了尽快普及安全有效的疫苗，结束新冠肺炎疫情。她同时表示，美国政府将继续加强与私营部门和所有可能伙伴的合作，扩大疫苗的制造和分销，以及努力增加生产这些疫苗所需的原材料。美国此举有可能扩大新冠肺炎疫苗的全球供应，缩小富国和穷国之间的疫苗接种差距。美国白宫办公厅主任罗恩·克莱因（Ron Klain）2日曾表示，知识产权是全球新冠肺炎疫苗短缺问题的一部分，但更大的问题在于制造业。他说，白宫将在“未来几天”透露更多消息。据新华社，此前，世界卫生组织总干事谭德塞和英国前首相戈登·布朗于本月3日共同呼吁暂时豁免新冠疫苗知识产权。谭德塞在当天举行的线上记者会上说，过去两周全球报告的新增新冠确诊病例数比疫情开始后的头6个月加起来还要多；上周印度和巴西报告的新增感染病例数占全球半数以上，还有许多国家面临非常脆弱的局势。谭德塞表示，如果要为大多数成年人接种疫苗以实现群体免疫，需要的疫苗将大大超过现有数量；为提高疫苗产量，暂时豁免疫苗知识产权非常重要，而这并不是一个“慈善问题”。全球疫情居高不下，印度疫情大爆发五一小长假期间，全球新冠疫情大幅扩散，截至5月6日，美国约翰斯·霍普金斯大学发布的统计数据显示，截至北京时间5月5日23时11分，全球新冠肺炎确诊病例上升至154,469,379例，其中死亡病例达到3,230,336例。美国疫情形势较高峰期明显好转，但每日仍有数万人感染。目前累计报告32,514,808例新冠肺炎确诊病例，578,524名患者死亡。欧洲多国疫情形势处于波动状态，部分国家确诊人数仍维持高位。截至发稿，法国累计确诊5,742,792例、英国4,439,494例、意大利4,059,821例、西班牙3,544,945例、德国3,462,292例。主要新兴市场国家中，近日疫情恶化的印度未见好转迹象，单日新增确诊病例持续维持在30万例以上，累计病例达20,665,148例。巴西（14,122,795例）、俄罗斯（4,682,573例）疫情较严重。美洲哥伦比亚（2,701,313例）、阿根廷（2,769,552例）、墨西哥（2,315,811例）确诊人数居前。目前，印度成为全球疫情风口。印度卫生部公布的数据显示，5月4日上午9时，印度成为继美国之后，第2个累计确诊病例突破2000万的国家。最新的数字是，截至5日下午6时，印度累计新冠肺炎确诊人数达2066万。新华社发文，就在人们聚焦印度疫情之时，毗邻的尼泊尔疫情也急剧恶化。截至5日下午6时，尼泊尔累计确诊病例超过35万。据外媒报道，这个人口不到3000万的国家，医疗体系已经不堪重负。与印度一样，尼泊尔出现病床、氧气等医疗物资短缺状况。实际上，不单是印度与尼泊尔，从东南亚的老挝、柬埔寨和泰国，到与印度接壤的不丹等国，也都面临新一波疫情。彭博社的疫情环比统计数据显示，老挝增幅位居第一，其次是尼泊尔和泰国——4月新增病例比3月飙升约10倍。港股四大疫苗龙头狂跌，蒸发逾400亿元受美国表态将放弃新冠肺炎疫苗专利这一消息的影响，多支美国疫苗概念股下跌。在美股大市值疫苗谷中，Moderna跌超6%，市值蒸发43亿美元，约合280亿人民币，Biotech跌超3%，强生微跌0.42%。太平洋彼岸消息引发中国疫苗股巨震。在A股市场，沃森生物暴跌13%，智飞生物跌超11%，美诺华、复星医药跌停。在港股市场中，千亿市值的康希诺生物出现恐慌性杀跌，一度暴跌逾20%，千亿市值复星医药跌近19%，千亿市值的中国生物制药跌近4%。截至发稿，康希诺生物A股市值蒸发82亿元，H股蒸发81亿港元，两者合计蒸发150亿元；复星医药A股蒸发120亿元，复星医药H股蒸发58亿港元，两者合计蒸发168亿元；中国生物制药蒸发72亿港元，折合60亿元。三大龙头公司合计蒸发市值近400亿元。有市场分析表示，mRNA对产生变异的新冠病毒的效果不明显，现在连拜登自己都担心印度的病毒传入美国。还有分析人士认为，对于美国放弃疫苗专利的表态，现在表示怀疑，到实现时再看，以及会否再附加条件也得到实现时再看。中泰国际策略分析师颜招骏表示，美国支持豁免新冠疫苗知识产权是基于人道上及长远经济的考虑，目前新兴市场及欠发达国家疫苗短缺，美国放弃疫苗的知识产权可让海外地区加快疫苗生产进度，加快全球经济活动正常化，但不排除短期对概念股构成利空。","news_type":1,"symbols_score_info":{"300122":0.9,"300142":0.9,"06185":0.9,"01177":0.9,"02196":0.9}},"isVote":1,"tweetType":1,"viewCount":728,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":106945639,"gmtCreate":1620086260821,"gmtModify":1704338332754,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"Hh","listText":"Hh","text":"Hh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/106945639","repostId":"1183913055","repostType":4,"isVote":1,"tweetType":1,"viewCount":496,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":385651362,"gmtCreate":1613547514956,"gmtModify":1704881857887,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/DGLY\">$Digital Ally(DGLY)$</a>nnnnnn","listText":"<a href=\"https://laohu8.com/S/DGLY\">$Digital Ally(DGLY)$</a>nnnnnn","text":"$Digital Ally(DGLY)$nnnnnn","images":[{"img":"https://static.tigerbbs.com/50b47d64da5b5ae8c150065374f9a011","width":"828","height":"1434"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/385651362","isVote":1,"tweetType":1,"viewCount":885,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9933200906,"gmtCreate":1662285061206,"gmtModify":1676537031063,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"&nbsp;j","listText":"&nbsp;j","text":"j","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/9933200906","repostId":"1118695401","repostType":4,"isVote":1,"tweetType":1,"viewCount":418,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9939514633,"gmtCreate":1662131339522,"gmtModify":1676537004946,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"&nbsp;h","listText":"&nbsp;h","text":"h","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/9939514633","repostId":"1197425412","repostType":4,"repost":{"id":"1197425412","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":1662126351,"share":"https://ttm.financial/m/news/1197425412?lang=en_US&edition=fundamental","pubTime":"2022-09-02 21:45","market":"us","language":"zh","title":"Chinese concept stock Yingxi Group triggered a circuit breaker after falling more than 20% on the third day of listing","url":"https://stock-news.laohu8.com/highlight/detail?id=1197425412","media":"老虎资讯综合","summary":"该股周四下跌超95%。","content":"<p><html><head></head><body>At the beginning of Friday's trading, the Chinese concept stock Yingxi Group triggered a circuit breaker after falling more than 20% on the third day of listing. The stock fell more than 95% on Thursday.</p><p><img src=\"https://static.tigerbbs.com/7d9dd65dbec9026ac90db702099cab86\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p></body></html></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>Chinese concept stock Yingxi Group triggered a circuit breaker after falling more than 20% on the third day of listing</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\">\nChinese concept stock Yingxi Group triggered a circuit breaker after falling more than 20% on the third day of listing\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\">2022-09-02 21:45</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>At the beginning of Friday's trading, the Chinese concept stock Yingxi Group triggered a circuit breaker after falling more than 20% on the third day of listing. The stock fell more than 95% on Thursday.</p><p><img src=\"https://static.tigerbbs.com/7d9dd65dbec9026ac90db702099cab86\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/2946b9cd4befcf808691bc00a8ecb1be","relate_stocks":{"ATXG":"盈喜集团"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1197425412","content_text":"周五盘初，中概股盈喜集团上市第三日跌超20%后触发熔断，该股周四下跌超95%。","news_type":1,"symbols_score_info":{"ATXG":0.9}},"isVote":1,"tweetType":1,"viewCount":314,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9024344835,"gmtCreate":1653806139227,"gmtModify":1676535345283,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"j","listText":"j","text":"j","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9024344835","repostId":"1133417318","repostType":4,"repost":{"id":"1133417318","kind":"news","pubTimestamp":1653728009,"share":"https://ttm.financial/m/news/1133417318?lang=en_US&edition=fundamental","pubTime":"2022-05-28 16:53","market":"hk","language":"zh","title":"Internet reports of massive layoffs, XPeng Motors responded: adjustment of a small number of related employees","url":"https://stock-news.laohu8.com/highlight/detail?id=1133417318","media":"快科技2018","summary":"内部的确存在组织架构调整，小鹏的出海业务很艰难。","content":"<p><html><head></head><body>Recent news, according to reports,<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>A round of organizational adjustments and layoffs is underway, involving multiple departments. At present, several senior executives have changed. He Liyang, XPeng Motor's vice president in charge of overseas business, has recently resigned.</p><p>In response to this report, XPeng Motors responded to Jiemian News that the substantial layoffs were inconsistent with the facts. \"Due to the job adjustment and performance optimization of some departments, the adjustment of a small number of related employees was involved.\"</p><p>In addition, an insider close to XPeng Motors revealed to Jiemian News, \"There is indeed an internal organizational structure adjustment, and XPeng's overseas business is very difficult.\"</p><p>It is worth noting that a few days ago, XPeng Motors was exposed to the destruction of more than 20 fresh graduates.</p><p>In response to this matter, XPeng Motors also responded that it was due to the job adjustment and performance optimization of some departments, which involved the adjustment of a small number of fresh graduates and related employees, and would continue to communicate and handle it properly.</p><p>XPeng said that with<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>With the rapid growth of the automobile business, XPeng automobile and ecological enterprises continue to increase investment in talents and R&D. Since the beginning of 2021, more than 10,000 new employees have been added, including about 1,600 fresh graduates who have joined the company, and about 900 fresh graduates who are waiting to join the company. They are expected to arrive in July this year.</p><p><img src=\"https://static.tigerbbs.com/24c0afaecf05282cf5918e32b6949d8f\" tg-width=\"600\" tg-height=\"337\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>","source":"lsy1617683882798","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Internet reports of massive layoffs, XPeng Motors responded: adjustment of a small number of related employees</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nInternet reports of massive layoffs, XPeng Motors responded: adjustment of a small number of related employees\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">快科技2018</strong><span class=\"h-time small\">2022-05-28 16:53</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Recent news, according to reports,<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>A round of organizational adjustments and layoffs is underway, involving multiple departments. At present, several senior executives have changed. He Liyang, XPeng Motor's vice president in charge of overseas business, has recently resigned.</p><p>In response to this report, XPeng Motors responded to Jiemian News that the substantial layoffs were inconsistent with the facts. \"Due to the job adjustment and performance optimization of some departments, the adjustment of a small number of related employees was involved.\"</p><p>In addition, an insider close to XPeng Motors revealed to Jiemian News, \"There is indeed an internal organizational structure adjustment, and XPeng's overseas business is very difficult.\"</p><p>It is worth noting that a few days ago, XPeng Motors was exposed to the destruction of more than 20 fresh graduates.</p><p>In response to this matter, XPeng Motors also responded that it was due to the job adjustment and performance optimization of some departments, which involved the adjustment of a small number of fresh graduates and related employees, and would continue to communicate and handle it properly.</p><p>XPeng said that with<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>With the rapid growth of the automobile business, XPeng automobile and ecological enterprises continue to increase investment in talents and R&D. Since the beginning of 2021, more than 10,000 new employees have been added, including about 1,600 fresh graduates who have joined the company, and about 900 fresh graduates who are waiting to join the company. They are expected to arrive in July this year.</p><p><img src=\"https://static.tigerbbs.com/24c0afaecf05282cf5918e32b6949d8f\" tg-width=\"600\" tg-height=\"337\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://news.mydrivers.com/1/835/835545.htm\">快科技2018</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/24c0afaecf05282cf5918e32b6949d8f","relate_stocks":{"09868":"小鹏汽车-W","XPEV":"小鹏汽车"},"source_url":"https://news.mydrivers.com/1/835/835545.htm","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133417318","content_text":"近日消息，据报道，小鹏汽车正在进行一轮组织调整、裁员，涉及多个部门，目前已有数位高管发生了变动，小鹏汽车负责出海业务的副总裁何利扬已于近期离职。针对这则报道，小鹏汽车对界面新闻回应称，大幅裁员与事实有出入，“由于部分部门岗位调整与绩效优化，涉及了少量相关员工的调整。”此外，一名接近小鹏汽车的知情人士向界面新闻透露，“内部的确存在组织架构调整，小鹏的出海业务很艰难。”值得注意的是，日前，小鹏汽车被曝毁约20余名应届生。针对此事，小鹏汽车同样回应称是由于部分部门岗位调整与绩效优化，涉及了少量应届毕业生和相关员工的调整，会继续沟通，妥善处理。小鹏汽车表示，随着智能汽车业务的高速增长，小鹏汽车及生态企业持续加大人才和研发投入。2021年初至今，新增员工超10000人，其中已入职的应届毕业生约1600人，待入职的应届毕业生约900人，预计在今年7月规模到岗。","news_type":1,"symbols_score_info":{"09868":0.9,"XPEV":0.9}},"isVote":1,"tweetType":1,"viewCount":597,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9069587450,"gmtCreate":1651314792922,"gmtModify":1676534889257,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"h","listText":"h","text":"h","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9069587450","repostId":"1145531422","repostType":4,"repost":{"id":"1145531422","kind":"news","pubTimestamp":1651314140,"share":"https://ttm.financial/m/news/1145531422?lang=en_US&edition=fundamental","pubTime":"2022-04-30 18:22","market":"us","language":"zh","title":"\"Big Liquidation of the Century\" Suspense: Did Bill Hwang manipulate the stock price?","url":"https://stock-news.laohu8.com/highlight/detail?id=1145531422","media":"华尔街见闻","summary":"检察官可能仍难以证明被告操纵股价。","content":"<p><html><head></head><body>Experts say it may be difficult for U.S. authorities to prove that the hero of this \"big explosion of the century\" manipulated the market and pushed up stock prices.</p><p>Before Bill Hwang and Archegos' former chief financial officer Patrick Halligan were arrested by federal police on Wednesday, U.S. authorities had spent months gathering evidence to support their allegations. The charges are that they plotted to manipulate the stock prices of listed companies in order to increase earnings, which caused a huge shock in the American securities market.</p><p>The Archgos liquidation caused billions of dollars in losses to Wall Street's top investment banks and wiped out more than $100 billion from the valuations of nearly a dozen companies.<b>But legal experts say prosecutors may still struggle to prove that the defendants manipulated the stock price.</b>This requires persuading the jury to prove that Bill Hwang's artificially raised stock prices has imbalanced the normal supply and demand relationship in the securities market.</p><p>Bill Hwang's lawyer insisted that his client was \"completely innocent of any wrongdoing\" and that the allegations were exaggerated. He is innocent and will be proven innocent.</p><p>Can manipulating stock prices constitute a criminal case?</p><p>The Securities and Exchange Commission (SEC) said in the indictment:</p><p>The pair and others at the firm made \"materially false and misleading statements\" to the big banks that arranged derivatives trades. None of these transactions are based on principled acts of true value to a particular issuer, but are intended to artificially inflate the stock price. Experts said,<b>These share purchases alone do not necessarily constitute illegal activity</b>, which may make it difficult to prove Bill Hwang's allegations of market manipulation.</p><p>A senior criminal lawyer asked:</p><p><b>If its purpose is only to drive the stock price, can this constitute a criminal case?</b>This is a very delicate and complex issue, and this case is an excellent case for us to think about it. Market manipulation is one of 11 criminal charges filed against Bill Hwang by U.S. prosecutors. He was also charged with racketeering and fraud. His deputy, former chief financial officer Patrick Halligan, was also arrested and charged, but not involving market manipulation. Both pleaded not guilty.</p><p>Allegations of market manipulation typically arise in civil cases filed by agencies such as the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC). Compared with criminal proceedings, the burden of proof in civil cases is lighter.<b>But even then, attorneys struggled to make those charges valid.</b></p><p>A case 30 years ago involving John Mulheren, a popular Wall Street trader, is regarded as a rare criminal case of stock manipulation. His charge was ultimately overturned on the grounds that the jury's decision was based on speculation and there was insufficient evidence.</p><p>According to the Financial Times, James Cox, professor of corporate and securities law at Duke University, said the Mulheren case<b>\"Greatly illustrates the problems existing in the manipulation charge case\"</b>。</p><p>The SEC also accused Bill Hwang of ignoring his research analysts by ordering Archegos to trade before the market opens or in the last 30 minutes of the trading day to maximize market impact.</p><p>The case of manipulation targeting listed corporate giants is even more confusing</p><p>Cox Indicates,<b>For U.S. authorities, this is a \"gut check moment\", and this case will not be assured, because there are \"great challenges\" in refining a large amount of evidence and transaction data into a form understandable to jurors.</b></p><p>He added that as Archegos' capital ballooned from $1.5 billion in March 2020 to $35 billion a year later,<b>The alleged manipulation involves corporate giants listed on the largest U.S. exchanges, rather than other more typical small companies, so the case will be more complicated.</b></p><p>According to reports, the company stocks that Bill Hwang is suspected of manipulating include American media companies ViacomCBS, Discovery Communications Inc, Texas Capital Bancshares, Rocket Companies, etc.<b>There are also Chinese concept stocks such as Tencent Music and iQiyi.</b></p><p>However, Cox also added: \"Although the target of manipulation is unusual, the volume made by traders is also very unusual. In some ways, this unusual situation may help the government.\"</p><p>According to the Financial Times, Dickinson Wright's partner Jacob Frenkel said:</p><p>The burden of proof falls entirely on the government. But prosecutors typically don't file charges unless they expect a big victory based on evidence. The scale of the liquidation and the description of its actions suggest that it will be an uphill battle for the defendants. U.S. prosecutors have also received cooperation from Archegos' director of risk management and chief trader, who have pleaded guilty.<b>Their potential testimony could be critical to the outcome of the lawsuit if the case goes to trial. They were accused of lying to banks along with Hwang and Halligan to obtain billions of dollars used to inflate the company's share price.</b></p><p><b>Rather than delving into complex financial transactions to win juries over, prosecutors may focus on the huge lies spun by defendants at trials. However, court observers said that in the eyes of jurors, top investment banks are \"unwelcome\" victims, and it is difficult to arouse everyone's sympathy.</b></p><p>Frenkel noted that this could also explain why the prosecution did not charge the defendants with fraud against the bank. He added:<b>\"By not charging banks with fraud, the government can in turn weaken the defendant's excuse to exonerate themselves-that the bank is some form of accomplice.\"</b></p><p>According to the prosecution, the defendant's false statements to banks and brokerage companies constitute the crime of extortion. This came as a surprise to legal experts, as this charge is usually against organized crime.</p><p>John Coffee, a professor at Columbia University Law School, said that the severe confiscation penalty related to extortion crimes in the United States may be the primary reason why the authorities included this charge.</p><p></body></html></p>","source":"highlight_wallstreetcn","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"Big Liquidation of the Century\" Suspense: Did Bill Hwang manipulate the stock price?</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\">\n\"Big Liquidation of the Century\" Suspense: Did Bill Hwang manipulate the stock price?\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\">2022-04-30 18:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Experts say it may be difficult for U.S. authorities to prove that the hero of this \"big explosion of the century\" manipulated the market and pushed up stock prices.</p><p>Before Bill Hwang and Archegos' former chief financial officer Patrick Halligan were arrested by federal police on Wednesday, U.S. authorities had spent months gathering evidence to support their allegations. The charges are that they plotted to manipulate the stock prices of listed companies in order to increase earnings, which caused a huge shock in the American securities market.</p><p>The Archgos liquidation caused billions of dollars in losses to Wall Street's top investment banks and wiped out more than $100 billion from the valuations of nearly a dozen companies.<b>But legal experts say prosecutors may still struggle to prove that the defendants manipulated the stock price.</b>This requires persuading the jury to prove that Bill Hwang's artificially raised stock prices has imbalanced the normal supply and demand relationship in the securities market.</p><p>Bill Hwang's lawyer insisted that his client was \"completely innocent of any wrongdoing\" and that the allegations were exaggerated. He is innocent and will be proven innocent.</p><p>Can manipulating stock prices constitute a criminal case?</p><p>The Securities and Exchange Commission (SEC) said in the indictment:</p><p>The pair and others at the firm made \"materially false and misleading statements\" to the big banks that arranged derivatives trades. None of these transactions are based on principled acts of true value to a particular issuer, but are intended to artificially inflate the stock price. Experts said,<b>These share purchases alone do not necessarily constitute illegal activity</b>, which may make it difficult to prove Bill Hwang's allegations of market manipulation.</p><p>A senior criminal lawyer asked:</p><p><b>If its purpose is only to drive the stock price, can this constitute a criminal case?</b>This is a very delicate and complex issue, and this case is an excellent case for us to think about it. Market manipulation is one of 11 criminal charges filed against Bill Hwang by U.S. prosecutors. He was also charged with racketeering and fraud. His deputy, former chief financial officer Patrick Halligan, was also arrested and charged, but not involving market manipulation. Both pleaded not guilty.</p><p>Allegations of market manipulation typically arise in civil cases filed by agencies such as the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC). Compared with criminal proceedings, the burden of proof in civil cases is lighter.<b>But even then, attorneys struggled to make those charges valid.</b></p><p>A case 30 years ago involving John Mulheren, a popular Wall Street trader, is regarded as a rare criminal case of stock manipulation. His charge was ultimately overturned on the grounds that the jury's decision was based on speculation and there was insufficient evidence.</p><p>According to the Financial Times, James Cox, professor of corporate and securities law at Duke University, said the Mulheren case<b>\"Greatly illustrates the problems existing in the manipulation charge case\"</b>。</p><p>The SEC also accused Bill Hwang of ignoring his research analysts by ordering Archegos to trade before the market opens or in the last 30 minutes of the trading day to maximize market impact.</p><p>The case of manipulation targeting listed corporate giants is even more confusing</p><p>Cox Indicates,<b>For U.S. authorities, this is a \"gut check moment\", and this case will not be assured, because there are \"great challenges\" in refining a large amount of evidence and transaction data into a form understandable to jurors.</b></p><p>He added that as Archegos' capital ballooned from $1.5 billion in March 2020 to $35 billion a year later,<b>The alleged manipulation involves corporate giants listed on the largest U.S. exchanges, rather than other more typical small companies, so the case will be more complicated.</b></p><p>According to reports, the company stocks that Bill Hwang is suspected of manipulating include American media companies ViacomCBS, Discovery Communications Inc, Texas Capital Bancshares, Rocket Companies, etc.<b>There are also Chinese concept stocks such as Tencent Music and iQiyi.</b></p><p>However, Cox also added: \"Although the target of manipulation is unusual, the volume made by traders is also very unusual. In some ways, this unusual situation may help the government.\"</p><p>According to the Financial Times, Dickinson Wright's partner Jacob Frenkel said:</p><p>The burden of proof falls entirely on the government. But prosecutors typically don't file charges unless they expect a big victory based on evidence. The scale of the liquidation and the description of its actions suggest that it will be an uphill battle for the defendants. U.S. prosecutors have also received cooperation from Archegos' director of risk management and chief trader, who have pleaded guilty.<b>Their potential testimony could be critical to the outcome of the lawsuit if the case goes to trial. They were accused of lying to banks along with Hwang and Halligan to obtain billions of dollars used to inflate the company's share price.</b></p><p><b>Rather than delving into complex financial transactions to win juries over, prosecutors may focus on the huge lies spun by defendants at trials. However, court observers said that in the eyes of jurors, top investment banks are \"unwelcome\" victims, and it is difficult to arouse everyone's sympathy.</b></p><p>Frenkel noted that this could also explain why the prosecution did not charge the defendants with fraud against the bank. He added:<b>\"By not charging banks with fraud, the government can in turn weaken the defendant's excuse to exonerate themselves-that the bank is some form of accomplice.\"</b></p><p>According to the prosecution, the defendant's false statements to banks and brokerage companies constitute the crime of extortion. This came as a surprise to legal experts, as this charge is usually against organized crime.</p><p>John Coffee, a professor at Columbia University Law School, said that the severe confiscation penalty related to extortion crimes in the United States may be the primary reason why the authorities included this charge.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3658349\">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/6661d0357fa5130f62970f5816d2c6b1","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://wallstreetcn.com/articles/3658349","is_english":false,"share_image_url":"https://static.laohu8.com/cc96873d3d23ee6ac10685520df9c100","article_id":"1145531422","content_text":"专家表示，美国当局可能很难证明，这场“世纪大爆仓”的主人公，操纵市场并推高股价。在周三 Bill Hwang 和 Archegos 的前首席财务官 Patrick Halligan 被联邦警方逮捕之前，美国当局已经花了数月时间来收集证据，支持他们的指控。指控的罪名是他们为提高收益而策划操纵上市公司股价，在美国证券市场上引起了巨震。Archgos的爆仓事件给华尔街的顶级投行们造成了数十亿美元的损失，并使近12家公司的估值蒸发了超过1000亿美元。但法律专家表示，检察官可能仍难以证明被告操纵股价。这需要说服陪审团，证明 Bill Hwang 人为抬高股价的行为，已经使证券市场正常的供求关系失衡。Bill Hwang的律师坚称，他的当事人“完全没有任何不当行为\"，这些指控是夸大其词。他是无辜的，将被证明无罪。操纵股价就能构成刑事案件吗？美国证监会（SEC）在起诉书中表示：两人和公司的其他人向安排衍生品交易的大银行做出了“重大虚假和误导性陈述”。这些交易都不是基于对特定发行者真实价值的原则性行为，而是有意人为地抬高股价。专家表示，单单是这些购买股票的行为并不一定构成非法活动，这可能会让 Bill Hwang 操纵市场的指控很难得到证明。一位资深的犯罪律师发问道：如果其目的仅仅是推动股价，这难道就能构成刑事案件吗？这是一个非常微妙和复杂的问题，本案是让我们思考这个问题的绝佳案例。市场操纵是美国检方对 Bill Hwang 提起的11项刑事指控之一。他还被指控犯有敲诈勒索罪和欺诈罪。他的副手、前首席财务官 Patrick Halligan 也被逮捕和指控，但不涉及市场操纵。两人都表示不认罪。操纵市场的指控通常出现在美国证监会（SEC）或商品期货交易委员会（CFTC）等机构提起的民事案件中。与刑事诉讼相比，民事案件的举证责任较轻。但即便如此，律师也很难使这些指控成立。30年前涉及华尔街当红交易员约翰·穆赫伦（John Mulheren）的一起案件，被视为是罕见的股票操纵刑事案例。他的罪名最终被推翻，理由是陪审团的决定是基于猜测，并且证据不足。据英国金融时报报道，杜克大学公司法和证券法教授 James Cox 表示，穆赫伦案“极大地说明了操纵指控案存在的问题”。SEC 还指控 Bill Hwang 无视他的研究分析师，下令 Archegos 在开盘前或交易日最后30分钟进行交易，以最大限度地扩大市场影响。操纵目标为上市企业巨头 案件更为扑朔迷离Cox 表示，对美国当局来说，这是一个“检查信心的时刻（gut check moment）”，这一案件不会是有把握的，因为要将大量证据和交易数据提炼成陪审员可以理解的形式，这存在着“巨大的挑战”。他补充说，由于 Archegos 公司资本从2020年3月的15亿美元膨胀到一年后的350亿美元，被指控的操纵行为涉及在美国最大交易所上市的企业巨头们，而不是其他更典型的小型公司，因此该案件将更加复杂。据报道，Bill Hwang 涉嫌操纵的公司股票包括美国媒体公司 ViacomCBS、Discovery Communications Inc、Texas Capital Bancshares、Rocket Companies等，还有腾讯音乐、爱奇艺等中概股。然而，Cox 还补充道：“尽管操纵的目标不同寻常，但交易员所做的成交量也非常不同寻常。在某些方面，这种不寻常的情况可能会帮助到政府。”据英国金融时报报道，Dickinson Wright 的合伙人 Jacob Frenkel 表示：举证责任完全落在政府头上。但检察官通常不会提出指控，除非他们根据证据预计会大获全胜。爆仓的规模和对其行为的描述表明，对被告来说，这将是一场艰苦的战斗。美国检方还得到了 Archegos 风险管理总监和首席交易员的配合，他们已经认罪。如果案件进入审判阶段，他们的潜在证词可能对诉讼的结果至关重要。他们被指控与 Hwang 和 Halligan 一起向银行撒谎，以获得用于抬高公司股价的数十亿美元。在审判中，检察官可能会将重点放在被告编织的巨大谎言上，而不是深入研究复杂的金融交易来赢得陪审团的支持。但法庭观察人士表示，在陪审员眼里，顶级投行是“不受欢迎的”受害者，很难引起大家的同情。Frenkel指出，这也可以解释为什么检方没有指控被告对银行进行欺诈。他补充说：“政府不指控银行诈骗罪，反过来可以削弱被告为自己开脱罪名的借口——即银行是其某种形式的共犯。”检方称，被告对银行和经纪公司的虚假陈述，构成了敲诈勒索罪。这令法律专家感到意外，因为这一指控通常针对有组织犯罪。哥伦比亚大学法学院教授 John Coffee 表示，与美国敲诈勒索罪名相关的严厉没收处罚，可能才是当局列入这一指控的首要原因。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":289,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9018679173,"gmtCreate":1649036321574,"gmtModify":1676534439751,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"s","listText":"s","text":"s","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9018679173","repostId":"2224379362","repostType":4,"repost":{"id":"2224379362","kind":"highlight","weMediaInfo":{"introduction":"致力于提供最及时的财经资讯，最专业的解读分析，覆盖宏观经济、金融机构、A股市场、上市公司、投资理财等财经领域。","home_visible":1,"media_name":"券商中国","id":"9","head_image":"https://static.tigerbbs.com/d482d56459984e8c86a6a137295b3c4f"},"pubTimestamp":1649033700,"share":"https://ttm.financial/m/news/2224379362?lang=en_US&edition=fundamental","pubTime":"2022-04-04 08:55","market":"hk","language":"zh","title":"QFII's latest position exposure! The overall style is biased towards small and medium-","url":"https://stock-news.laohu8.com/highlight/detail?id=2224379362","media":"券商中国","summary":"作为海外长线资金的代表，QFII的持仓变动向来备受市场关注。根据目前的统计数据来看，电子行业成为QFII持仓市值最高行业，行业内个股生益科技成为QFII持仓市值最高个股。值得注意的是，全球最大QFII在近日久违发声，相关负责人表示，中国股市长期趋势不改，政策风险或已过拐点。截至4月2日，在已披露年报的上市公司中，有223家上市公司现身QFII持仓，持仓总市值为634.66亿元。","content":"<p><html><head></head><body>As a representative of overseas long-term funds, changes in QFII positions have always attracted market attention.</p><p>According to current statistical data, the electronics industry has become the industry with the highest market value of QFII positions, and individual stocks in the industry<a href=\"https://laohu8.com/S/600183\">Shengyi Technology</a>Become the stock with the highest market value held by QFII. Observed from the perspective of dynamic changes,<a href=\"https://laohu8.com/S/601899\">Zijin Mining</a>It became the stock with the largest change in the market value of QFII positions in the fourth quarter, and this stock was also increased by QFII, social security fund and well-known private equity Gaoyi Assets.</p><p>At the same time, in the fourth quarter, new QFII stocks were mainly small and medium-sized market capitalization growth stocks. Some institutional sources believe that the investment channels have been greatly broadened now, which makes the layout of foreign capital in China cover a wider range and can go deep into many small and medium-cap stocks. It is worth noting that the world's largest QFII has been speaking out for a long time in recent days. The relevant person in charge said that the long-term trend of China's stock market has not changed, and policy risks may have passed an inflection point.</p><p>Electronics has become the industry with the highest market value of QFII positions</p><p>With the release of annual reports of listed companies, the investment situation of QFII in the fourth quarter also surfaced. As of April 2, among the listed companies that have disclosed their annual reports, 223 listed companies have appeared in QFII positions, with a total market value of 63.466 billion yuan.</p><p>Looking at 28 Shenwan first-level industries, as of the end of the fourth quarter, the top five industries with the highest market value of QFII positions were electronics, medicine and biology, computers, non-bank finance, and chemicals, with market values of 10.334 billion yuan, 9.451 billion yuan, 7.388 billion yuan, 6.041 billion yuan, and 5.389 billion yuan respectively.<img src=\"https://static.tigerbbs.com/e7574bf8abb0473293666e7a9dae9b70\" tg-width=\"509\" tg-height=\"1050\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>From the perspective of individual stocks, the top ten stocks with the highest market value of QFII positions are Shengyi Technology,<a href=\"https://laohu8.com/S/002410\">Glodon</a>、<a href=\"https://laohu8.com/S/601601\">China Pacific Insurance</a>、<a href=\"https://laohu8.com/S/002352\">SF Holdings</a>、<a href=\"https://laohu8.com/S/300347\">Tigermed</a>、<a href=\"https://laohu8.com/S/002648\">Satellite chemistry</a>、<a href=\"https://laohu8.com/S/300059\">Oriental Fortune</a>、<a href=\"https://laohu8.com/S/000786\">Beijing New Building Materials</a>OPTE,<a href=\"https://laohu8.com/S/688363\">Huaxi Biotech</a>。 Compared with the previous period (i.e. the end of the third quarter of 2021), only the market value of Satellite Chemical, BNBM, and Bloomage Biotech's positions increased.</p><p><img src=\"https://static.tigerbbs.com/c59f21cbaa674295b94999634af8feec\" tg-width=\"632\" tg-height=\"471\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>This stock became the stock with the largest change in market value of QFII positions in the fourth quarter</p><p>Wind data shows that compared with the end of the third quarter of 2021, the top ten stocks with the largest changes in the market value of QFII positions are:<a href=\"https://laohu8.com/S/02899\">Zijin Mining</a>, Beijing New Building Materials,<a href=\"https://laohu8.com/S/000338\">Weichai Power</a>, Miaokelando, Hualu Hengsheng,<a href=\"https://laohu8.com/S/600702\">Shede Liquor Industry</a>, Haier Bio,<a href=\"https://laohu8.com/S/002541\">Honglu steel structure</a>, Baoxin Software, Shuanghui Development.</p><p><img src=\"https://static.tigerbbs.com/d286244da6454f2f9e85d8db29eab1b6\" tg-width=\"632\" tg-height=\"471\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>It is worth noting that Abu Dhabi Investment Authority, one of the world's top three sovereign wealth funds (SWFs), bought 140 million shares of Zijin Mining in the fourth quarter of 2021, becoming the tenth largest tradable shareholder of the stock.</p><p>According to the annual report, the top ten tradable shareholders of Zijin Mining also include three products managed by Deng Xiaofeng, chief investment officer of Gaoyi Assets, holding a total of 940 million shares, an increase of 20.8 million shares compared with the end of the third quarter of last year. According to the reference market value at the end of the period, the market value of the holdings exceeds 9 billion yuan.</p><p>In addition, the National Social Security Fund Portfolio 103 and the National Social Security Fund Portfolio 114 also increased their positions in Zijin Mining by 54.8 million shares and 16.34 million shares respectively in the fourth quarter of last year. Calculated based on the reference market value at the end of the period, the market value of the holdings was about 3.8 billion yuan.</p><p><img src=\"https://static.tigerbbs.com/8a3599044b2040a2a1a354b225a35a1b\" tg-width=\"1080\" tg-height=\"365\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Data show that Zijin Mining will achieve operating income of 225.1 billion yuan in 2021, an increase of 31% compared with 171.5 billion yuan in the same period in 2020; The net profit attributable to the parent was 15.7 billion yuan, an increase of 141% compared with 6.5 billion yuan in the same period in 2020. As of the close on April 1, 2022, Zijin Mining reported 11.45 yuan per share, with a total market value of 293.8 billion yuan.</p><p>QFII investment spreads to small and medium-cap growth stocks</p><p>According to the current annual report disclosure, at least 115 shares were newly added by QFII in the fourth quarter of 2021, of which 7 shares were newly added for the first time. The shareholding ratio of QFII exceeds 3%, and the shareholding ratio of Walter Gas, which has the highest shareholding ratio, exceeds 7%.</p><p><img src=\"https://static.tigerbbs.com/6f064f837bed4628b374d85ee1d83168\" tg-width=\"638\" tg-height=\"387\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>It is worth noting that among the new QFII stocks, the total market value of most of them does not exceed 10 billion, and the stocks with the largest market value have a market value of about 30 billion at the end of the year. It can be seen that the overall investment direction of QFII in the fourth quarter is concentrated in small and medium-cap growth stocks.</b></p><p>The person in charge of China investment business of a QFII institution in Shanghai said that in recent years, many foreign investors have been expanding their investment and research capabilities in the Chinese market. The obvious change is that the number of stocks covered by foreign research and investment is much higher than in the past. \"In the past, due to limited investment channels, the concentration of foreign shareholdings was very high. Now the investment channels have been greatly broadened, which makes the layout of foreign capital in China cover a wider range and can go deep into many small and medium-cap stocks. In addition, the optional targets in the Chinese market are also greatly improved, allowing foreign investors to find more targets that meet their investment requirements.\"</p><p>The largest QFII's long-lost voice: the long-term trend of China's stock market will not change</p><p><a href=\"https://laohu8.com/S/UBS\">UBS</a>Its UBS (Lux) Equity Fund-China Opportunity, known as the world's largest QFII fund (US dollar), focuses on listed companies in China's offshore and onshore markets. Recently, Shi Bin, head of China stocks at UBS Asset Management, spoke out for a long time.</p><p>Shi Bin said, \"The long-term trend of China's attractive market still exists. We have confidence in China's stock market, but we need more patience at present.\" He said that one of the reasons for being optimistic about China's stock market is that the government has strengthened its policy measures to stabilize growth. At the two sessions in early March, the government announced a GDP growth target of 5.5% for 2022, which was higher than market expectations. \"We believe that this requires Chinese policymakers to strengthen monetary, fiscal and credit support to provide stronger support for the economy and markets.\"</p><p>It is worth mentioning that Shi Bin believes that policy risks may have passed an inflection point. \"Policy was the main reason for the violent volatility in many sectors of the stock market last year, and this year may be the key to reversing the stock market. The recent regulatory investigation of technology and healthcare companies is mainly the continuation and implementation of relevant policies last year. We believe that policy risks may have passed the inflection point.\"</p><p>As far as the future layout is concerned, Shi Bin believes that fundamentals and valuation are crucial, and grasping the policy direction is equally critical. He said, \"At present, the valuation of China's stock market has reached an attractive level, and we will continue to pay attention to the long-term element of investment: fundamentals.\"</p><p></body></html></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>QFII's latest position exposure! The overall style is biased towards small and medium-</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\">\nQFII's latest position exposure! The overall style is biased towards small and medium-\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/9\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d482d56459984e8c86a6a137295b3c4f);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">券商中国 </p>\n<p class=\"h-time smaller\">2022-04-04 08:55</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>As a representative of overseas long-term funds, changes in QFII positions have always attracted market attention.</p><p>According to current statistical data, the electronics industry has become the industry with the highest market value of QFII positions, and individual stocks in the industry<a href=\"https://laohu8.com/S/600183\">Shengyi Technology</a>Become the stock with the highest market value held by QFII. Observed from the perspective of dynamic changes,<a href=\"https://laohu8.com/S/601899\">Zijin Mining</a>It became the stock with the largest change in the market value of QFII positions in the fourth quarter, and this stock was also increased by QFII, social security fund and well-known private equity Gaoyi Assets.</p><p>At the same time, in the fourth quarter, new QFII stocks were mainly small and medium-sized market capitalization growth stocks. Some institutional sources believe that the investment channels have been greatly broadened now, which makes the layout of foreign capital in China cover a wider range and can go deep into many small and medium-cap stocks. It is worth noting that the world's largest QFII has been speaking out for a long time in recent days. The relevant person in charge said that the long-term trend of China's stock market has not changed, and policy risks may have passed an inflection point.</p><p>Electronics has become the industry with the highest market value of QFII positions</p><p>With the release of annual reports of listed companies, the investment situation of QFII in the fourth quarter also surfaced. As of April 2, among the listed companies that have disclosed their annual reports, 223 listed companies have appeared in QFII positions, with a total market value of 63.466 billion yuan.</p><p>Looking at 28 Shenwan first-level industries, as of the end of the fourth quarter, the top five industries with the highest market value of QFII positions were electronics, medicine and biology, computers, non-bank finance, and chemicals, with market values of 10.334 billion yuan, 9.451 billion yuan, 7.388 billion yuan, 6.041 billion yuan, and 5.389 billion yuan respectively.<img src=\"https://static.tigerbbs.com/e7574bf8abb0473293666e7a9dae9b70\" tg-width=\"509\" tg-height=\"1050\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>From the perspective of individual stocks, the top ten stocks with the highest market value of QFII positions are Shengyi Technology,<a href=\"https://laohu8.com/S/002410\">Glodon</a>、<a href=\"https://laohu8.com/S/601601\">China Pacific Insurance</a>、<a href=\"https://laohu8.com/S/002352\">SF Holdings</a>、<a href=\"https://laohu8.com/S/300347\">Tigermed</a>、<a href=\"https://laohu8.com/S/002648\">Satellite chemistry</a>、<a href=\"https://laohu8.com/S/300059\">Oriental Fortune</a>、<a href=\"https://laohu8.com/S/000786\">Beijing New Building Materials</a>OPTE,<a href=\"https://laohu8.com/S/688363\">Huaxi Biotech</a>。 Compared with the previous period (i.e. the end of the third quarter of 2021), only the market value of Satellite Chemical, BNBM, and Bloomage Biotech's positions increased.</p><p><img src=\"https://static.tigerbbs.com/c59f21cbaa674295b94999634af8feec\" tg-width=\"632\" tg-height=\"471\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>This stock became the stock with the largest change in market value of QFII positions in the fourth quarter</p><p>Wind data shows that compared with the end of the third quarter of 2021, the top ten stocks with the largest changes in the market value of QFII positions are:<a href=\"https://laohu8.com/S/02899\">Zijin Mining</a>, Beijing New Building Materials,<a href=\"https://laohu8.com/S/000338\">Weichai Power</a>, Miaokelando, Hualu Hengsheng,<a href=\"https://laohu8.com/S/600702\">Shede Liquor Industry</a>, Haier Bio,<a href=\"https://laohu8.com/S/002541\">Honglu steel structure</a>, Baoxin Software, Shuanghui Development.</p><p><img src=\"https://static.tigerbbs.com/d286244da6454f2f9e85d8db29eab1b6\" tg-width=\"632\" tg-height=\"471\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>It is worth noting that Abu Dhabi Investment Authority, one of the world's top three sovereign wealth funds (SWFs), bought 140 million shares of Zijin Mining in the fourth quarter of 2021, becoming the tenth largest tradable shareholder of the stock.</p><p>According to the annual report, the top ten tradable shareholders of Zijin Mining also include three products managed by Deng Xiaofeng, chief investment officer of Gaoyi Assets, holding a total of 940 million shares, an increase of 20.8 million shares compared with the end of the third quarter of last year. According to the reference market value at the end of the period, the market value of the holdings exceeds 9 billion yuan.</p><p>In addition, the National Social Security Fund Portfolio 103 and the National Social Security Fund Portfolio 114 also increased their positions in Zijin Mining by 54.8 million shares and 16.34 million shares respectively in the fourth quarter of last year. Calculated based on the reference market value at the end of the period, the market value of the holdings was about 3.8 billion yuan.</p><p><img src=\"https://static.tigerbbs.com/8a3599044b2040a2a1a354b225a35a1b\" tg-width=\"1080\" tg-height=\"365\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Data show that Zijin Mining will achieve operating income of 225.1 billion yuan in 2021, an increase of 31% compared with 171.5 billion yuan in the same period in 2020; The net profit attributable to the parent was 15.7 billion yuan, an increase of 141% compared with 6.5 billion yuan in the same period in 2020. As of the close on April 1, 2022, Zijin Mining reported 11.45 yuan per share, with a total market value of 293.8 billion yuan.</p><p>QFII investment spreads to small and medium-cap growth stocks</p><p>According to the current annual report disclosure, at least 115 shares were newly added by QFII in the fourth quarter of 2021, of which 7 shares were newly added for the first time. The shareholding ratio of QFII exceeds 3%, and the shareholding ratio of Walter Gas, which has the highest shareholding ratio, exceeds 7%.</p><p><img src=\"https://static.tigerbbs.com/6f064f837bed4628b374d85ee1d83168\" tg-width=\"638\" tg-height=\"387\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>It is worth noting that among the new QFII stocks, the total market value of most of them does not exceed 10 billion, and the stocks with the largest market value have a market value of about 30 billion at the end of the year. It can be seen that the overall investment direction of QFII in the fourth quarter is concentrated in small and medium-cap growth stocks.</b></p><p>The person in charge of China investment business of a QFII institution in Shanghai said that in recent years, many foreign investors have been expanding their investment and research capabilities in the Chinese market. The obvious change is that the number of stocks covered by foreign research and investment is much higher than in the past. \"In the past, due to limited investment channels, the concentration of foreign shareholdings was very high. Now the investment channels have been greatly broadened, which makes the layout of foreign capital in China cover a wider range and can go deep into many small and medium-cap stocks. In addition, the optional targets in the Chinese market are also greatly improved, allowing foreign investors to find more targets that meet their investment requirements.\"</p><p>The largest QFII's long-lost voice: the long-term trend of China's stock market will not change</p><p><a href=\"https://laohu8.com/S/UBS\">UBS</a>Its UBS (Lux) Equity Fund-China Opportunity, known as the world's largest QFII fund (US dollar), focuses on listed companies in China's offshore and onshore markets. Recently, Shi Bin, head of China stocks at UBS Asset Management, spoke out for a long time.</p><p>Shi Bin said, \"The long-term trend of China's attractive market still exists. We have confidence in China's stock market, but we need more patience at present.\" He said that one of the reasons for being optimistic about China's stock market is that the government has strengthened its policy measures to stabilize growth. At the two sessions in early March, the government announced a GDP growth target of 5.5% for 2022, which was higher than market expectations. \"We believe that this requires Chinese policymakers to strengthen monetary, fiscal and credit support to provide stronger support for the economy and markets.\"</p><p>It is worth mentioning that Shi Bin believes that policy risks may have passed an inflection point. \"Policy was the main reason for the violent volatility in many sectors of the stock market last year, and this year may be the key to reversing the stock market. The recent regulatory investigation of technology and healthcare companies is mainly the continuation and implementation of relevant policies last year. We believe that policy risks may have passed the inflection point.\"</p><p>As far as the future layout is concerned, Shi Bin believes that fundamentals and valuation are crucial, and grasping the policy direction is equally critical. He said, \"At present, the valuation of China's stock market has reached an attractive level, and we will continue to pay attention to the long-term element of investment: fundamentals.\"</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/63400c9d06fa4b299e24de8b26ea390f","relate_stocks":{"399401":"中小盘"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2224379362","content_text":"作为海外长线资金的代表，QFII的持仓变动向来备受市场关注。根据目前的统计数据来看，电子行业成为QFII持仓市值最高行业，行业内个股生益科技成为QFII持仓市值最高个股。而以动态变化的角度观察，紫金矿业成为四季度QFII持仓市值变动最大个股，且这一股同时受到了QFII、社保基金和知名私募高毅资产的加仓。同时，四季度中，QFII新进个股以中小市值成长股为主。有机构人士认为，现在投资渠道大大拓宽，这使得外资在中国的布局覆盖范围更广，可以深入到很多中小盘股票。值得注意的是，全球最大QFII在近日久违发声，相关负责人表示，中国股市长期趋势不改，政策风险或已过拐点。电子成QFII持仓市值最高行业随着上市公司年报相继出炉，QFII四季度的投资情况也随之浮出水面。截至4月2日，在已披露年报的上市公司中，有223家上市公司现身QFII持仓，持仓总市值为634.66亿元。以28个申万一级行业来看，截至四季度末，QFII持仓市值最高的前五个行业分别为电子、医药生物、计算机、非银金融、化工，持仓市值分别为103.34亿元、94.51亿元、73.88亿元、60.41亿元、53.89亿元。以个股角度来看，QFII持仓市值最高的前十个股分别为生益科技、广联达、中国太保、顺丰控股、泰格医药、卫星化学、东方财富、北新建材、奥普特、华熙生物。较前一期（即2021年三季度末）相比，仅卫星化学、北新建材、华熙生物持仓市值增加。这一股成QFII四季度持仓市值变动最大个股Wind数据显示，相较2021年三季度末，QFII持仓市值变动最大的前十个股分别为，紫金矿业、北新建材、潍柴动力、妙可蓝多、华鲁恒升、舍得酒业、海尔生物、鸿路钢构、宝信软件、双汇发展。值得注意的是，全球前三大的主权财富基金(SWF)之一的阿布达比投资局在2021年四季度大手笔买入1.4亿股紫金矿业，一跃成为该股第十大流通股股东。年报显示，紫金矿业前十大流通股东中，还包括高毅资产首席投资官邓晓峰管理的三只产品，合计持股9.4亿股，相较去年三季度末增持2080万股，按照期末参考市值计算，持股市值超过90亿元。另外，全国社保基金103组合，全国社保基金114组合，也在去年四季度分别加仓紫金矿业5480万股和1634万股，按照期末参考市值计算，持股市值约38亿元。数据显示，紫金矿业2021年实现营业收入2251亿元，相较2020年同期的1715亿元增长31%；归母净利润157亿元，相较2020年同期的65亿元大增141%。截至2022年4月1日收盘，紫金矿业报11.45元/股，总市值为2938亿元。QFII投资向中小盘成长股扩散按照目前的年报披露情况看，至少有115股在2021年四季度获QFII新进，其中有7股首次新进，QFII的持股比例就超过3%，持股比例最高的华特气体持股比例超7%。值得注意的是，QFII新进个股中，总市值大多未超过百亿，市值最大个股在年末时市值约300亿左右，可以看出QFII四季度整体投资方向集中在中小盘成长股。沪上一家QFII机构的中国投资业务负责人表示，近些年来，很多外资都在不断扩大在中国市场的投研能力，其中很明显的变化就是外资研究和投资覆盖的股票数量远远高于过去。“以往由于投资渠道受限，外资持股集中度非常高，现在投资渠道大大拓宽，这使得外资在中国的布局覆盖范围更广，可以深入到很多中小盘股票。此外，中国市场的可选标的也在大幅提升，令外资可以寻找到更多符合其投资要求的标的。”最大QFII久违发声：中国股市长期趋势不改瑞银旗下的中国机遇基金（UBS (Lux) Equity Fund - China Opportunity）被称为全球规模最大的QFII基金（美元），专注于布局中国离岸、在岸市场的上市公司。近期，瑞银资产管理中国股票主管施斌久违发声。施斌表示，“中国市场具有吸引力的长期趋势仍然存在，我们对中国股市有信心，而当前则需要更多的耐心。”他表示，看好中国股市的原因之一，是因为政府加强了稳增长的政策措施。三月初的两会，政府公布了2022年的GDP增长目标为5.5%，高于市场预期。“我们认为，这需要中国的政策制定者加强货币、财政和信贷支持力度，为经济和市场提供更有力的支撑。”值得一提的是，施斌认为，政策风险或已过拐点。“政策是去年股市中很多板块波动剧烈的主要原因，而今年可能成为扭转股市的关键。最近监管机构对科技和医疗保健公司的调查，主要是去年相关政策的延续和落实。我们认为，政策风险或已过拐点。”就未来的布局而言，施斌认为，基本面、估值至关重要，同时把握政策方向也同样关键。他称，“当前，中国股市估值已到了具有吸引力的水平，我们将继续关注投资的长期要素：基本面。”","news_type":1,"symbols_score_info":{"399401":1}},"isVote":1,"tweetType":1,"viewCount":415,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9018196053,"gmtCreate":1648991382010,"gmtModify":1676534432748,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"j","listText":"j","text":"j","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9018196053","repostId":"1112879837","repostType":4,"repost":{"id":"1112879837","kind":"news","pubTimestamp":1648918989,"share":"https://ttm.financial/m/news/1112879837?lang=en_US&edition=fundamental","pubTime":"2022-04-03 01:03","market":"us","language":"zh","title":"Tesla delivers more than 310,000 vehicles in the first quarter, a record high","url":"https://stock-news.laohu8.com/highlight/detail?id=1112879837","media":"新浪科技","summary":"分析师预计特斯拉2022年第一季度的汽车交付量为317000辆。","content":"<p><html><head></head><body>News in the early morning of April 3, Beijing time,<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Just announced,<b>310,048 vehicles were delivered in the first quarter.</b>In the fourth quarter of 2021, Tesla delivered 308,600 electric vehicles, setting a record for the company at the time.</p><p><img src=\"https://static.tigerbbs.com/9ae222a11e4ed8a649e427de1d30f83c\" tg-width=\"565\" tg-height=\"153\" referrerpolicy=\"no-referrer\"/></p><p>Tesla, along with the rest of the auto industry, has also been affected by widespread parts shortages and inflation. Key components such as semiconductors are still in short supply, and in the United States, Tesla delivery orders are scheduled for several months.</p><p>Tesla recently opened a new factory in Brandenburg, Germany, with a ribbon-cutting ceremony on March 22. Tesla is also planning a grand opening and \"cyber rodeo\" event on April 7 at another new car assembly plant it is building.</p><p>Tesla officially moved its headquarters to Austin on Dec. 1 but still operates its first electric vehicle factory in Fremont, California.</p><p>Globally, Tesla's operations in the quarter ended March 31 were affected by COVID-19 pandemic, and its Shanghai factory temporarily suspended production.</p><p>Tesla CEO Elon Musk warned in mid-March that Tesla's business was facing inflationary pressures and raised the prices of its cars in the United States and China.</p><p></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>Tesla delivers more than 310,000 vehicles in the first quarter, a record high</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla delivers more than 310,000 vehicles in the first quarter, a record high\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\">2022-04-03 01:03</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>News in the early morning of April 3, Beijing time,<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Just announced,<b>310,048 vehicles were delivered in the first quarter.</b>In the fourth quarter of 2021, Tesla delivered 308,600 electric vehicles, setting a record for the company at the time.</p><p><img src=\"https://static.tigerbbs.com/9ae222a11e4ed8a649e427de1d30f83c\" tg-width=\"565\" tg-height=\"153\" referrerpolicy=\"no-referrer\"/></p><p>Tesla, along with the rest of the auto industry, has also been affected by widespread parts shortages and inflation. Key components such as semiconductors are still in short supply, and in the United States, Tesla delivery orders are scheduled for several months.</p><p>Tesla recently opened a new factory in Brandenburg, Germany, with a ribbon-cutting ceremony on March 22. Tesla is also planning a grand opening and \"cyber rodeo\" event on April 7 at another new car assembly plant it is building.</p><p>Tesla officially moved its headquarters to Austin on Dec. 1 but still operates its first electric vehicle factory in Fremont, California.</p><p>Globally, Tesla's operations in the quarter ended March 31 were affected by COVID-19 pandemic, and its Shanghai factory temporarily suspended production.</p><p>Tesla CEO Elon Musk warned in mid-March that Tesla's business was facing inflationary pressures and raised the prices of its cars in the United States and China.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.sina.com.cn/tech/2022-04-03/doc-imcwiwss9638940.shtml\">新浪科技</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9e0d9f23e003547a93295253f05b6a55","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://finance.sina.com.cn/tech/2022-04-03/doc-imcwiwss9638940.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112879837","content_text":"北京时间4月3日凌晨消息，特斯拉刚刚公布，第一季度交付了310048辆汽车。而在2021年第四季度，特斯拉交付了308600辆电动汽车，当时创下该公司的纪录。特斯拉以及其他汽车行业也受到广泛的零部件短缺和通货膨胀的影响。半导体等关键部件仍然供不应求，在美国，特斯拉交付订单更是排到了数月以后。特斯拉最近在德国勃兰登堡开设了一家新工厂，并于3月22日举行了剪彩仪式。特斯拉还计划于4月7日在其正在建设的另一家新汽车装配厂举办盛大的开业和“网络牛仔竞技”活动。特斯拉于12月1日正式将其总部迁至奥斯汀，但仍在加利福尼亚州弗里蒙特经营其第一家电动汽车工厂。在全球范围内，特斯拉在截至3月31日的季度中的运营受到新冠疫情影响，上海工厂暂时停产。特斯拉首席执行官埃隆马斯克在3月中旬曾警告称，特斯拉业务面临通胀压力，并提高了其在美国和中国的汽车售价。","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":357,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9037251535,"gmtCreate":1648125109332,"gmtModify":1676534306832,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"t","listText":"t","text":"t","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9037251535","repostId":"2221078352","repostType":4,"repost":{"id":"2221078352","kind":"news","pubTimestamp":1648121948,"share":"https://ttm.financial/m/news/2221078352?lang=en_US&edition=fundamental","pubTime":"2022-03-24 19:39","market":"us","language":"zh","title":"Three Catalysts for Investing in Nio: Delivery, Going to Sea, Growth Guidance","url":"https://stock-news.laohu8.com/highlight/detail?id=2221078352","media":"华尔街大事件","summary":"本周早些时候，由于对退市的担忧以及其他宏观经济挑战，在中概股大幅抛售期间，蔚来在挑战52 周新低后，在周中例会期间大幅反弹。该股周二暴跌至 13 美元，今年迄今已下跌 62%(从峰值到谷底)，自去年早","content":"<p><html><head></head><body>Earlier this week, amid a sharp sell-off in Chinese concept stocks amid delisting concerns and other macroeconomic challenges,<a href=\"https://laohu8.com/S/NIO\">Nio</a>After challenging a new 52-week low, it rebounded sharply during the midweek regular meeting. The stock plunged to $13 on Tuesday, is down 62% year-to-date (peak-to-trough) and has lost 81% of its value since peaking at $66.99 earlier last year.</p><p>However, on Wednesday's next trading day, the stock opened at $17.64, up 18% from the previous day's close and up to 12% intraday gains. As investors continue to grapple with changing regulations and reporting requirements, the stock's move over the past two days continues to highlight the theme of surging volatility in broader Chinese concept stocks.</p><p><img src=\"https://static.tigerbbs.com/ff847d3011f87397b6c232ec1f26bdfe\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"/></p><p>On the one hand, while the internet industry is subject to regulation, and the operating environment and growth trajectory of Nio vehicles and broader Chinese electric vehicles (\"EVs\") have not yet undergone any major changes, as the internet industry has experienced, the stock has experienced spillover effects.</p><p>On the other hand, Nio remains at the center of delisting risks due to the SEC's strict compliance with PCAOB audit inspection rules, although its recent \"return\" listing in Hong Kong aims to mitigate some of the associated risks.</p><p>But EV adoption remains high in the automaker's core Chinese market and complementary European markets as it shifts to the underlying outlook for Nio vehicles. The upcoming addition of sedans to its lineup, which will form a new automotive segment for its current SUV-focused portfolio, coupled with the launch of sub-brands, is expected to help NIO better penetrate the fast-growing EV market.</p><p>Supply chain constraints are also expected to ease in the second half of the year, which will complement Nio's continued efforts to expand production lines and increase deliveries to achieve revenue growth. While investor sentiment remains subdued, the final EV subsidy of the year is expected to help sustain vehicle sales growth and offset some recent economic headwinds.</p><p><b>01</b></p><p><b>Beijing recently supports overseas listings</b></p><p><b>What does it mean for Nio?</b></p><p><b>It's been a volatile month for Nio Motor and its U.S.-listed NEV stocks.</b></p><p>The latest decline in U.S.-listed Chinese concept stocks began last week, shortly after the Securities and Exchange Commission identified five companies in the queue-including<a href=\"https://laohu8.com/S/YUMC\">Yum China</a>Holdings Ltd. (YUMC),<a href=\"https://laohu8.com/S/ZLAB\">Zai Lab</a>(ZLAB),<a href=\"https://laohu8.com/S/BGNE\">BeiGene</a>(BGNE), ACM Research Inc. (ACMR) and HUTCHMED (CHINA) Ltd. (HCM)-\"If they fail to comply with the [Holding Foreign Companies Accountable Act] for three consecutive years Audit requirements \", will face the risk of delisting.</p><p>In fact, last Thursday was the \"worst trading day since the global financial crisis\" for Chinese concept stocks due to the resurgence of regulatory issues.</p><p>However, Nio Motor and its U.S.-listed Chinese concept stocks rebounded sharply in Wednesday trading after \"China's State Council vowed to keep the stock market stable.\"</p><p>As mentioned earlier, the sell-off in Nio auto stocks over the past year has largely been due to intense pressure from regulators, and investors are worried about the future of Chinese concept stocks.</p><p>However, it cannot be ignored that Nio vehicles, with their Chinese EV counterparts, are largely different from<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>(BABA) and<a href=\"https://laohu8.com/S/00700\">Tencent</a>(OTCPK: TCEHY) and other large internet stocks.</p><p>This is largely due to the continued critical role of the electric vehicle industry in China's journey towards carbon neutrality by 2060. In fact, China's electric vehicle sales continue to grow at an unprecedented rate, thanks to domestic subsidy policies for new energy vehicles.</p><p>The Chinese government's support for the national electric vehicle industry has also been formally confirmed through the national five-year development plan for the new energy vehicle industry, which plans to make up 20% of total vehicle sales by 2025 and become the mainstream choice by 2035 to ensure China's continued dominance of the global electric vehicle market.</p><p>The latest developments are particularly good for Nio vehicles, with Nio vehicles' fundamental outlook remaining intact.</p><p><b>02</b></p><p><b>China in compliance with SEC reporting requirements</b></p><p><b>What does his position mean for Nio?</b></p><p>Following last week's SEC identification of five companies that did not meet the PCAOB audit inspection requirements within the time frame set by the Foreign Corporate Liability Act (i.e. three consecutive years beginning in 2021), the China Securities Regulatory Commission (\"CSRC\") responded by saying it was \"willing to cooperate with U.S. regulators on accounting inspections consistent with international practice.\" This largely contributed to the latest rally in the stock, as the CSRC's tone change helped ease some of the resurfacing delisting concerns.</p><p>In the latest development, the China Securities Regulatory Commission \"is considering allowing U.S. officials to examine documents of companies that do not own sensitive data,\" but the agency still wants to be able to \"refuse to examine sensitive data\" where applicable on national security grounds. However, the proposal still does not address the key reason for the PCAOB's audit examination, namely, the need to evaluate \"unredacted\" audit documents to ensure that the information reported in publicly disclosed financial statements is reasonable and free from material misstatement.</p><p>The CSRC's recent considerations also run counter to the purpose of the Controlling Foreign Companies Responsibility Act, which was enacted in late 2020 to ensure that all issuers on U.S. stock exchanges are treated with the same rules and regulations,</p><p>Nonetheless, statements from the PCAOB and CSRC last week both affirming their respective interests in the hope of finding a mutually acceptable solution, coupled with China's confirmation this week of supporting overseas stock listings, are favorable developments.</p><p>They also represent an important step towards addressing the SEC's long-term review of China's non-compliance with PCAOB audit inspection requirements, which once again fueled<a href=\"https://laohu8.com/S/LUCKIN\">Luckin Coffee</a>And<a href=\"https://laohu8.com/S/ONP\">Oriental Paper</a>Waiting for fraudulent reports from Chinese companies. The CSRC's recent acknowledgement of the need to work with the PCAOB to find common ground continues to confirm an optimistic outcome that will benefit Nio's long-term valuation outlook.</p><p>At the same time, Nio's recent introductory listing in Hong Kong (that is, a secondary listing without issuing additional shares and raising new funds) and its proposed introductory listing in Singapore also provide some mitigation of delisting risks.</p><p><b>03</b></p><p><b>What to consider before investing in a Nio vehicle?</b></p><p>As mentioned in the above analysis, and discussed in further detail in one of our previous stories on Nio stock, the underlying growth outlook for the Chinese EV maker remains largely unchanged. The soon-to-begin deliveries of the ET7 and ET5 sedans and the all-new ES7 SUV will continue to complement Nio Motor's ongoing efforts to gain a larger share of the fast-growing Chinese EV market. The upcoming sub-brand launch touted by Nio Motor on its Q2 '21 earnings call will also improve its appeal to the mass market and confirm its efforts to penetrate opportunities in smaller, third-tier Chinese cities.</p><p>Nio remains an investable option compared to big Chinese tech companies, considering the growth prospects of its underlying business have not been significantly altered by Beijing's ongoing regulatory crackdown.</p><p>While we acknowledge that there are still regulatory issues, not least concerns about a possible delisting from the NYSE if the CSRC and PCAOB fail to reach a consensus before time runs out, the company remains on track for significant underlying growth in the coming years as global EV adoption continues to accelerate.</p><p>This is also expected to boost the uptrend in Nio Motor Hong Kong stock and, in the worst case scenario, insulate ADR holders in the U.S. from significant impairment of their investments if delisted from the NYSE subsequently.</p><p>As analyzed in our previous coverage of the stock, our underlying price target remains around $60 based on Nio Motor's historical underlying growth trends and future market share gain opportunities. But given the recent volatility triggered by Chinese-specific concerns and broader macroeconomic challenges in global equities, we conducted a sensitivity analysis to determine what Nio's current stock price implies and where it will move over the next 12 months.</p><p>According to the base case fundamental forecast we analyze here, Nio Motor's current share price of $18.75 (March 16 close) implies a permanent terminal growth rate of-1%. In other words, the market is currently pricing Nio as if it's a business in recession, when in reality it still has a huge growth opportunity for decades to come.</p><p>While the global transition to electric vehicles is looming, continued adoption of emerging modes of transportation is still in its infancy, meaning there is still significant additional room for growth in Nio vehicles. BNEF sees EV adoption at an inflection point, when they account for 8% to 10% of a region's total annual new car sales-so far, only parts of the EU such as Chinese and Norwegian, where Nio's vehicle operations are based, have recently achieved such statistics and continue to move towards becoming mainstream consumer choice.</p><p><img src=\"https://static.tigerbbs.com/1f7234d38243621854f6d033643f66c4\" tg-width=\"640\" tg-height=\"281\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Valuation analysis of NIO basic cases (author).</p><p><img src=\"https://static.tigerbbs.com/8fe6e807fd0bbeceb777a27edb9c4774\" tg-width=\"640\" tg-height=\"312\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Current implied sustainable terminal growth rate in Nio (author)</p><p><img src=\"https://static.tigerbbs.com/ea26259cd47adcae6fe57e1c03c04caa\" tg-width=\"617\" tg-height=\"132\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Nio's current implied sustainable terminal growth rate</p><p><b>Assuming that in the most conservative scenario, Nio's valuation is based on implied perpetual growth assumptions consistent with the long-term economic outlook of its core markets (i.e. China, Europe, US), the stock will be valued at about $30.</b>Given ongoing market uncertainty, as well as industry-specific headwinds such as long-term supply chain issues and Chinese-specific regulatory issues, this could be a fair scenario for Nio stock in 2022. Based on the stock's last trading share price of $18.75 on March 16, the 12-month price target of $30.38 still implies upside potential of more than 60%.</p><p><img src=\"https://static.tigerbbs.com/b830ce399ebdd2fcf60816058a300943\" tg-width=\"640\" tg-height=\"279\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Nio's Valuation Outlook and GDP Growth</p><p><img src=\"https://static.tigerbbs.com/b11e8863c69f310f837e296cc2e0a285\" tg-width=\"640\" tg-height=\"209\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Nio's Valuation Outlook and GDP Growth</p><p><img src=\"https://static.tigerbbs.com/909d801fb322a9e30b2455d3d03164cf\" tg-width=\"640\" tg-height=\"143\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>NIO sensitivity analysis</p><p>Key near-term catalysts driving the stock to $30 over the next 12 months will include on-time customer deliveries of new models (i.e. ET7, ET5, and ES7), continued overseas expansion, accelerated order growth, easing supply chain constraints, and continued Chinese support for overseas listings, which we expect management to provide color on Nio's upcoming earnings call:</p><p><b>New cars are delivered to customers on time:</b>The ET7 full-size sedan has begun rolling off Nio Motor's production lines, with first customer deliveries expected to begin later this month. Meanwhile, the ET5 mid-size sedan, unveiled during NIO Day in December 2021, will begin delivering to customers in the fall, after which deliveries of the ES7 SUV will begin.</p><p>Since NIO's Q421 report is released at the end of the quarter (March 24), we expect management to provide information on the progress of the start of production and customer deliveries of new models, as well as their reservations and/or customer acceptance rates. We are optimistic that management is on track to launch the new vehicle as planned, as the ET7 has been test driven at NIO House in Hefei, in line with management's earlier expectations for deliveries to begin in early 2022.</p><p>Additional Information on NIO's Progress On its upcoming earnings call, the development of its sub-brands will also be welcomed by investors, as relevant details remain limited to those briefly mentioned in the Q2 '21 earnings call. Positive developments mean Nio is making progress as planned in an effort to grab mass market share ahead of rapid EV adoption and increase competition in the sector, which will boost investor confidence in the stock's long-term growth prospects.</p><p><b>Continue to expand overseas:</b>As part of its overseas expansion efforts, Nio plans to continue its Norwegian expansion later this year, while opening additional stores in Germany, Holland, Denmark and Sweden. With Europe currently the world's second-largest EV market, progress into the region on schedule is critical to Nio Motor's long-term business prospects as well as improving its valuation outlook as a global EV manufacturer.</p><p><b>Accelerated growth:</b>Another key catalyst to watch includes Nio's fourth quarter growth trends and current year/period growth guidance for deliveries and orders/bookings. Increased order intake will underscore Nio's continued strength to seize opportunities ahead of a surge in EV demand, while continued revenue growth will mean a strong improvement in vehicle production growth in Nio.</p><p>The positive growth trend will also solidify Nio Motor's track record in rapidly responding to the unprecedented supply chain constraints and production challenges that have disrupted the automotive industry over the past 12 months. Any updates on NIO's ongoing expansion of production facilities at NEO Park will also provide further insight into NIO's future revenue prospects.</p><p><b>Easing supply chain constraints:</b>As discussed in our previous coverage, Nio has demonstrated continued strength in navigating ongoing supply chain woes.</p><p>However, while many automakers have earlier said the worst of the ongoing chip supply shortage is behind us, the recent war between Russia and Ukraine could add uncertainty to that outlook in the near term. Nonetheless, supply chain bottlenecks are expected to ease further in the second half, which will further benefit Nio's continued strength ahead of some of its automotive peers in addressing related challenges.</p><p>Meanwhile, on the pandemic front, the recent COVID outbreak in China has forced many automakers, such as Toyota (TM) and<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>(TSLA) temporarily halted production. Despite the absence of any news on the closure of the Nio vehicle plant, we expect some level of COVID-related supply chain and workforce disruption, but considering that production has not been affected by the prolonged shutdown, the related impact is not expected to be significant.</p><p><b>China's continued support for overseas listings:</b>Based on recent trends in Chinese concept stocks, China's continued support for overseas listings and China Securities Regulatory Commission and CSRC's commitment to seek common ground on reporting requirements remain the most important sentiment boosters.</p><p><b>04</b></p><p><b>conclusion</b></p><p><b>Based on the above analysis, Nio's basic growth prospects remain intact.</b>This means that the stock is not worthy of its current subdued price performance, which reflects the outlook for a downward business based on our sensitivity analysis in the previous section. The electric vehicle maker continues to benefit from strong global adoption and continues to demonstrate strength in addressing unprecedented supply chain challenges.</p><p>While consumer confidence in Chinese, the core market for Nio vehicles, has retreated this year, an EV subsidy program scheduled to end in 2023 is expected to provide partial compensation through early purchase decisions. Nio's upcoming new models this year are expected to further complement this trend and support continued sales growth amid a challenging macroeconomic backdrop.</p><p>We recommend buying Nio stock at current price levels, which implies its underlying business growth prospects, as described above, remain unchanged, given the unlikely likelihood of it being an immediate target of ongoing regulatory changes.</p><p>The stock's recent return to listing in Hong Kong has also mitigated some delisting risks, and its valuation is expected to sustain sustainable growth driven by fundamental opportunities ahead. Investment options aren't for everyone, however, and investors still need to acknowledge the potential spillover from Beijing's regulatory woes and be able to withstand the risk of delisting on U.S. exchanges, which could further dampen Nio's valuation outlook.</p><p></body></html></p>","source":"lsy1643368503284","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Three Catalysts for Investing in Nio: Delivery, Going to Sea, Growth Guidance</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThree Catalysts for Investing in Nio: Delivery, Going to Sea, Growth Guidance\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街大事件</strong><span class=\"h-time small\">2022-03-24 19:39</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Earlier this week, amid a sharp sell-off in Chinese concept stocks amid delisting concerns and other macroeconomic challenges,<a href=\"https://laohu8.com/S/NIO\">Nio</a>After challenging a new 52-week low, it rebounded sharply during the midweek regular meeting. The stock plunged to $13 on Tuesday, is down 62% year-to-date (peak-to-trough) and has lost 81% of its value since peaking at $66.99 earlier last year.</p><p>However, on Wednesday's next trading day, the stock opened at $17.64, up 18% from the previous day's close and up to 12% intraday gains. As investors continue to grapple with changing regulations and reporting requirements, the stock's move over the past two days continues to highlight the theme of surging volatility in broader Chinese concept stocks.</p><p><img src=\"https://static.tigerbbs.com/ff847d3011f87397b6c232ec1f26bdfe\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"/></p><p>On the one hand, while the internet industry is subject to regulation, and the operating environment and growth trajectory of Nio vehicles and broader Chinese electric vehicles (\"EVs\") have not yet undergone any major changes, as the internet industry has experienced, the stock has experienced spillover effects.</p><p>On the other hand, Nio remains at the center of delisting risks due to the SEC's strict compliance with PCAOB audit inspection rules, although its recent \"return\" listing in Hong Kong aims to mitigate some of the associated risks.</p><p>But EV adoption remains high in the automaker's core Chinese market and complementary European markets as it shifts to the underlying outlook for Nio vehicles. The upcoming addition of sedans to its lineup, which will form a new automotive segment for its current SUV-focused portfolio, coupled with the launch of sub-brands, is expected to help NIO better penetrate the fast-growing EV market.</p><p>Supply chain constraints are also expected to ease in the second half of the year, which will complement Nio's continued efforts to expand production lines and increase deliveries to achieve revenue growth. While investor sentiment remains subdued, the final EV subsidy of the year is expected to help sustain vehicle sales growth and offset some recent economic headwinds.</p><p><b>01</b></p><p><b>Beijing recently supports overseas listings</b></p><p><b>What does it mean for Nio?</b></p><p><b>It's been a volatile month for Nio Motor and its U.S.-listed NEV stocks.</b></p><p>The latest decline in U.S.-listed Chinese concept stocks began last week, shortly after the Securities and Exchange Commission identified five companies in the queue-including<a href=\"https://laohu8.com/S/YUMC\">Yum China</a>Holdings Ltd. (YUMC),<a href=\"https://laohu8.com/S/ZLAB\">Zai Lab</a>(ZLAB),<a href=\"https://laohu8.com/S/BGNE\">BeiGene</a>(BGNE), ACM Research Inc. (ACMR) and HUTCHMED (CHINA) Ltd. (HCM)-\"If they fail to comply with the [Holding Foreign Companies Accountable Act] for three consecutive years Audit requirements \", will face the risk of delisting.</p><p>In fact, last Thursday was the \"worst trading day since the global financial crisis\" for Chinese concept stocks due to the resurgence of regulatory issues.</p><p>However, Nio Motor and its U.S.-listed Chinese concept stocks rebounded sharply in Wednesday trading after \"China's State Council vowed to keep the stock market stable.\"</p><p>As mentioned earlier, the sell-off in Nio auto stocks over the past year has largely been due to intense pressure from regulators, and investors are worried about the future of Chinese concept stocks.</p><p>However, it cannot be ignored that Nio vehicles, with their Chinese EV counterparts, are largely different from<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>(BABA) and<a href=\"https://laohu8.com/S/00700\">Tencent</a>(OTCPK: TCEHY) and other large internet stocks.</p><p>This is largely due to the continued critical role of the electric vehicle industry in China's journey towards carbon neutrality by 2060. In fact, China's electric vehicle sales continue to grow at an unprecedented rate, thanks to domestic subsidy policies for new energy vehicles.</p><p>The Chinese government's support for the national electric vehicle industry has also been formally confirmed through the national five-year development plan for the new energy vehicle industry, which plans to make up 20% of total vehicle sales by 2025 and become the mainstream choice by 2035 to ensure China's continued dominance of the global electric vehicle market.</p><p>The latest developments are particularly good for Nio vehicles, with Nio vehicles' fundamental outlook remaining intact.</p><p><b>02</b></p><p><b>China in compliance with SEC reporting requirements</b></p><p><b>What does his position mean for Nio?</b></p><p>Following last week's SEC identification of five companies that did not meet the PCAOB audit inspection requirements within the time frame set by the Foreign Corporate Liability Act (i.e. three consecutive years beginning in 2021), the China Securities Regulatory Commission (\"CSRC\") responded by saying it was \"willing to cooperate with U.S. regulators on accounting inspections consistent with international practice.\" This largely contributed to the latest rally in the stock, as the CSRC's tone change helped ease some of the resurfacing delisting concerns.</p><p>In the latest development, the China Securities Regulatory Commission \"is considering allowing U.S. officials to examine documents of companies that do not own sensitive data,\" but the agency still wants to be able to \"refuse to examine sensitive data\" where applicable on national security grounds. However, the proposal still does not address the key reason for the PCAOB's audit examination, namely, the need to evaluate \"unredacted\" audit documents to ensure that the information reported in publicly disclosed financial statements is reasonable and free from material misstatement.</p><p>The CSRC's recent considerations also run counter to the purpose of the Controlling Foreign Companies Responsibility Act, which was enacted in late 2020 to ensure that all issuers on U.S. stock exchanges are treated with the same rules and regulations,</p><p>Nonetheless, statements from the PCAOB and CSRC last week both affirming their respective interests in the hope of finding a mutually acceptable solution, coupled with China's confirmation this week of supporting overseas stock listings, are favorable developments.</p><p>They also represent an important step towards addressing the SEC's long-term review of China's non-compliance with PCAOB audit inspection requirements, which once again fueled<a href=\"https://laohu8.com/S/LUCKIN\">Luckin Coffee</a>And<a href=\"https://laohu8.com/S/ONP\">Oriental Paper</a>Waiting for fraudulent reports from Chinese companies. The CSRC's recent acknowledgement of the need to work with the PCAOB to find common ground continues to confirm an optimistic outcome that will benefit Nio's long-term valuation outlook.</p><p>At the same time, Nio's recent introductory listing in Hong Kong (that is, a secondary listing without issuing additional shares and raising new funds) and its proposed introductory listing in Singapore also provide some mitigation of delisting risks.</p><p><b>03</b></p><p><b>What to consider before investing in a Nio vehicle?</b></p><p>As mentioned in the above analysis, and discussed in further detail in one of our previous stories on Nio stock, the underlying growth outlook for the Chinese EV maker remains largely unchanged. The soon-to-begin deliveries of the ET7 and ET5 sedans and the all-new ES7 SUV will continue to complement Nio Motor's ongoing efforts to gain a larger share of the fast-growing Chinese EV market. The upcoming sub-brand launch touted by Nio Motor on its Q2 '21 earnings call will also improve its appeal to the mass market and confirm its efforts to penetrate opportunities in smaller, third-tier Chinese cities.</p><p>Nio remains an investable option compared to big Chinese tech companies, considering the growth prospects of its underlying business have not been significantly altered by Beijing's ongoing regulatory crackdown.</p><p>While we acknowledge that there are still regulatory issues, not least concerns about a possible delisting from the NYSE if the CSRC and PCAOB fail to reach a consensus before time runs out, the company remains on track for significant underlying growth in the coming years as global EV adoption continues to accelerate.</p><p>This is also expected to boost the uptrend in Nio Motor Hong Kong stock and, in the worst case scenario, insulate ADR holders in the U.S. from significant impairment of their investments if delisted from the NYSE subsequently.</p><p>As analyzed in our previous coverage of the stock, our underlying price target remains around $60 based on Nio Motor's historical underlying growth trends and future market share gain opportunities. But given the recent volatility triggered by Chinese-specific concerns and broader macroeconomic challenges in global equities, we conducted a sensitivity analysis to determine what Nio's current stock price implies and where it will move over the next 12 months.</p><p>According to the base case fundamental forecast we analyze here, Nio Motor's current share price of $18.75 (March 16 close) implies a permanent terminal growth rate of-1%. In other words, the market is currently pricing Nio as if it's a business in recession, when in reality it still has a huge growth opportunity for decades to come.</p><p>While the global transition to electric vehicles is looming, continued adoption of emerging modes of transportation is still in its infancy, meaning there is still significant additional room for growth in Nio vehicles. BNEF sees EV adoption at an inflection point, when they account for 8% to 10% of a region's total annual new car sales-so far, only parts of the EU such as Chinese and Norwegian, where Nio's vehicle operations are based, have recently achieved such statistics and continue to move towards becoming mainstream consumer choice.</p><p><img src=\"https://static.tigerbbs.com/1f7234d38243621854f6d033643f66c4\" tg-width=\"640\" tg-height=\"281\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Valuation analysis of NIO basic cases (author).</p><p><img src=\"https://static.tigerbbs.com/8fe6e807fd0bbeceb777a27edb9c4774\" tg-width=\"640\" tg-height=\"312\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Current implied sustainable terminal growth rate in Nio (author)</p><p><img src=\"https://static.tigerbbs.com/ea26259cd47adcae6fe57e1c03c04caa\" tg-width=\"617\" tg-height=\"132\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Nio's current implied sustainable terminal growth rate</p><p><b>Assuming that in the most conservative scenario, Nio's valuation is based on implied perpetual growth assumptions consistent with the long-term economic outlook of its core markets (i.e. China, Europe, US), the stock will be valued at about $30.</b>Given ongoing market uncertainty, as well as industry-specific headwinds such as long-term supply chain issues and Chinese-specific regulatory issues, this could be a fair scenario for Nio stock in 2022. Based on the stock's last trading share price of $18.75 on March 16, the 12-month price target of $30.38 still implies upside potential of more than 60%.</p><p><img src=\"https://static.tigerbbs.com/b830ce399ebdd2fcf60816058a300943\" tg-width=\"640\" tg-height=\"279\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Nio's Valuation Outlook and GDP Growth</p><p><img src=\"https://static.tigerbbs.com/b11e8863c69f310f837e296cc2e0a285\" tg-width=\"640\" tg-height=\"209\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Nio's Valuation Outlook and GDP Growth</p><p><img src=\"https://static.tigerbbs.com/909d801fb322a9e30b2455d3d03164cf\" tg-width=\"640\" tg-height=\"143\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>NIO sensitivity analysis</p><p>Key near-term catalysts driving the stock to $30 over the next 12 months will include on-time customer deliveries of new models (i.e. ET7, ET5, and ES7), continued overseas expansion, accelerated order growth, easing supply chain constraints, and continued Chinese support for overseas listings, which we expect management to provide color on Nio's upcoming earnings call:</p><p><b>New cars are delivered to customers on time:</b>The ET7 full-size sedan has begun rolling off Nio Motor's production lines, with first customer deliveries expected to begin later this month. Meanwhile, the ET5 mid-size sedan, unveiled during NIO Day in December 2021, will begin delivering to customers in the fall, after which deliveries of the ES7 SUV will begin.</p><p>Since NIO's Q421 report is released at the end of the quarter (March 24), we expect management to provide information on the progress of the start of production and customer deliveries of new models, as well as their reservations and/or customer acceptance rates. We are optimistic that management is on track to launch the new vehicle as planned, as the ET7 has been test driven at NIO House in Hefei, in line with management's earlier expectations for deliveries to begin in early 2022.</p><p>Additional Information on NIO's Progress On its upcoming earnings call, the development of its sub-brands will also be welcomed by investors, as relevant details remain limited to those briefly mentioned in the Q2 '21 earnings call. Positive developments mean Nio is making progress as planned in an effort to grab mass market share ahead of rapid EV adoption and increase competition in the sector, which will boost investor confidence in the stock's long-term growth prospects.</p><p><b>Continue to expand overseas:</b>As part of its overseas expansion efforts, Nio plans to continue its Norwegian expansion later this year, while opening additional stores in Germany, Holland, Denmark and Sweden. With Europe currently the world's second-largest EV market, progress into the region on schedule is critical to Nio Motor's long-term business prospects as well as improving its valuation outlook as a global EV manufacturer.</p><p><b>Accelerated growth:</b>Another key catalyst to watch includes Nio's fourth quarter growth trends and current year/period growth guidance for deliveries and orders/bookings. Increased order intake will underscore Nio's continued strength to seize opportunities ahead of a surge in EV demand, while continued revenue growth will mean a strong improvement in vehicle production growth in Nio.</p><p>The positive growth trend will also solidify Nio Motor's track record in rapidly responding to the unprecedented supply chain constraints and production challenges that have disrupted the automotive industry over the past 12 months. Any updates on NIO's ongoing expansion of production facilities at NEO Park will also provide further insight into NIO's future revenue prospects.</p><p><b>Easing supply chain constraints:</b>As discussed in our previous coverage, Nio has demonstrated continued strength in navigating ongoing supply chain woes.</p><p>However, while many automakers have earlier said the worst of the ongoing chip supply shortage is behind us, the recent war between Russia and Ukraine could add uncertainty to that outlook in the near term. Nonetheless, supply chain bottlenecks are expected to ease further in the second half, which will further benefit Nio's continued strength ahead of some of its automotive peers in addressing related challenges.</p><p>Meanwhile, on the pandemic front, the recent COVID outbreak in China has forced many automakers, such as Toyota (TM) and<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>(TSLA) temporarily halted production. Despite the absence of any news on the closure of the Nio vehicle plant, we expect some level of COVID-related supply chain and workforce disruption, but considering that production has not been affected by the prolonged shutdown, the related impact is not expected to be significant.</p><p><b>China's continued support for overseas listings:</b>Based on recent trends in Chinese concept stocks, China's continued support for overseas listings and China Securities Regulatory Commission and CSRC's commitment to seek common ground on reporting requirements remain the most important sentiment boosters.</p><p><b>04</b></p><p><b>conclusion</b></p><p><b>Based on the above analysis, Nio's basic growth prospects remain intact.</b>This means that the stock is not worthy of its current subdued price performance, which reflects the outlook for a downward business based on our sensitivity analysis in the previous section. The electric vehicle maker continues to benefit from strong global adoption and continues to demonstrate strength in addressing unprecedented supply chain challenges.</p><p>While consumer confidence in Chinese, the core market for Nio vehicles, has retreated this year, an EV subsidy program scheduled to end in 2023 is expected to provide partial compensation through early purchase decisions. Nio's upcoming new models this year are expected to further complement this trend and support continued sales growth amid a challenging macroeconomic backdrop.</p><p>We recommend buying Nio stock at current price levels, which implies its underlying business growth prospects, as described above, remain unchanged, given the unlikely likelihood of it being an immediate target of ongoing regulatory changes.</p><p>The stock's recent return to listing in Hong Kong has also mitigated some delisting risks, and its valuation is expected to sustain sustainable growth driven by fundamental opportunities ahead. Investment options aren't for everyone, however, and investors still need to acknowledge the potential spillover from Beijing's regulatory woes and be able to withstand the risk of delisting on U.S. exchanges, which could further dampen Nio's valuation outlook.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/NVLkoXH218FVr8eADHiyLg\">华尔街大事件</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/608c0ca7f544a93854339353ff5e9ae1","relate_stocks":{"BK4504":"桥水持仓","QNETCN":"纳斯达克中美互联网老虎指数","TTTN":"老虎中美互联网巨头ETF","BK1119":"汽车制造商","09866":"蔚来-SW","BK4548":"巴美列捷福持仓","BK4574":"无人驾驶","BK4509":"腾讯概念","BK1588":"回港中概股","BK4581":"高盛持仓","BK4532":"文艺复兴科技持仓","BK4531":"中概回港概念","BK4099":"汽车制造商","BK4526":"热门中概股","BK4534":"瑞士信贷持仓","NIO":"蔚来","BK4555":"新能源车","EVS.SI":"MSCI China Electric Vehicles and Future Mobility ETF-NikkoAM","BK4505":"高瓴资本持仓"},"source_url":"https://mp.weixin.qq.com/s/NVLkoXH218FVr8eADHiyLg","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2221078352","content_text":"本周早些时候，由于对退市的担忧以及其他宏观经济挑战，在中概股大幅抛售期间，蔚来在挑战52 周新低后，在周中例会期间大幅反弹。该股周二暴跌至 13 美元，今年迄今已下跌 62%(从峰值到谷底)，自去年早些时候达到 66.99 美元的峰值以来，其价值已缩水 81%。然而，在周三的下一个交易日，该股开盘价为 17.64 美元，较前一天收盘价上涨 18%，盘中涨幅高达 12%。随着投资者继续努力应对不断变化的法规和报告要求，该股在过去两天的走势继续突显了更广泛的中概股波动性飙升的主题。一方面，虽说互联网行业受监管影响，蔚来汽车和更广泛的中国电动汽车(“EV”)的运营环境和增长轨迹尚未发生任何重大变化，就像互联网行业所经历的那样，但该股仍经历了溢出效应效果。另一方面，由于美国证券交易委员会严格要求遵守 PCAOB 审计检查规则，蔚来汽车仍然处于退市风险的中心，尽管它最近在香港“回归”上市旨在减轻一些相关风险。但在转向蔚来汽车的基本前景时，电动汽车在该汽车制造商的核心中国市场和欧洲补充市场中的采用率仍然很高。即将在其阵容中增加轿车，这将为其当前以 SUV 为主的产品组合形成一个新的汽车细分市场，再加上子品牌的推出，预计将有助于 NIO 更好地渗透快速增长的电动汽车市场。供应链限制也有望在下半年缓解，这将补充蔚来汽车在扩大生产线和提高交付量以实现营收增长方面的持续努力。尽管投资者情绪依然低迷，但预计今年最后的电动汽车补贴将有助于维持汽车销售增长并抵消一些近期的经济逆风。01北京近期支持海外上市对蔚来意味着什么？对于蔚来汽车及其在美国上市的新能源汽车股来说，这是动荡的一个月。美国上市中概股的最新一次滑坡始于上周，此前不久，美国证券交易委员会确定了该队列中的五家公司——包括百胜中国控股有限公司 ( YUMC )、再鼎医药 ( ZLAB )、百济神州 ( BGNE ) ， ACM Research Inc. ( ACMR ) 和 HUTCHMED (CHINA) Ltd. ( HCM ) - “如果他们连续三年未能遵守 [Holding Foreign Companies Accountable Act] 的审计要求”，将面临退市风险。事实上，由于监管问题再次出现，上周四是在中概股“自全球金融危机以来最糟糕的交易日”。然而，在“中国国务院发誓要保持股市稳定”之后，蔚来汽车及其在美国上市的中概股在周三的交易中出现了大幅反弹。如前所述，过去一年蔚来汽车股票的抛售很大程度上是由于监管机构的巨大压力，投资者对在中概股的未来感到担忧。然而，不容忽视的是，蔚来汽车与其中国电动汽车同行在很大程度上不同于阿里巴巴( BABA ) 和腾讯 ( OTCPK:TCEHY ) 等大型互联网股票。这主要是由于电动汽车行业在中国到 2060 年实现碳中和的过程中继续发挥关键作用。 事实上，中国的电动汽车销量继续以前所未有的速度增长，这要归功于国内对新能源汽车的补贴政策。中国政府对国家电动汽车行业的支持也通过国家新能源汽车产业五年发展规划得到正式确认，该规划计划到 2025 年电动汽车占汽车总销量的 20%，到 2035 年成为主流选择确保中国在全球电动汽车市场的持续主导地位。最新的发展对蔚来汽车尤其有利，蔚来汽车的基本面前景仍然完好无损。02中国在遵守SEC报告要求方面的立场对蔚来意味着什么？继上周 SEC 确定了 5 家在《外国公司责任法》规定的时限内(即从 2021 年开始连续三年)内不符合PCAOB 审计检查要求的公司，中国证券监督管理委员会( “中国证监会”回应称，“愿意与美国监管机构就符合国际惯例的会计检查进行合作”。这在很大程度上促成了该股的最新反弹，因为证监会的语气改变有助于缓解一些重新出现的退市担忧。在最新的发展中，中国证监会“正在考虑允许美国官员检查不拥有敏感数据的公司的文件”，但该机构仍希望能够以国家安全为由在适用的情况下“拒绝检查敏感数据”。然而，该提议仍未解决 PCAOB 审计检查的关键原因，即需要评估“未经编辑”的审计文件，以确保公开披露的财务报表中报告的信息合理且不存在重大错报。中国证监会最近的考虑也违背了《控股外国公司责任法案》的目的，该法案于 2020 年底颁布，旨在确保美国证券交易所的所有发行人都受到相同的规则和监管待遇，尽管如此，PCAOB 和中国证监会上周发表的声明都申明了各自的利益，希望找到双方都能接受的解决方案，再加上本周中国确认支持海外股票上市，这些都是有利的发展。它们也代表着朝着解决美国证券交易委员会对中国不遵守 PCAOB 审计检查要求的长期审查迈出了重要的一步，这一次又一次助长了瑞幸咖啡和东方纸业等中国公司的欺诈性报告。中国证监会最近承认需要与 PCAOB 合作寻找共同点，这继续证实了一个乐观的结果，这将有利于蔚来汽车的长期估值前景。同时，蔚来最近在香港的介绍上市(即未增发股份、未募集新资金的二次上市)和拟在新加坡的介绍上市也为退市风险提供了部分缓解。03投资蔚来汽车之前需要考虑什么？正如上述分析中提到的，并在我们之前对蔚来股票的一篇报道中进一步详细讨论过，这家中国电动汽车制造商的基本增长前景基本保持不变。即将开始交付的 ET7 和 ET5 轿车以及全新的 ES7 SUV 将继续补充蔚来汽车在中国快速增长的电动汽车市场中获得更大份额的持续努力。蔚来汽车在其 21 年第二季度财报电话会议上吹捧的即将发布的子品牌也将提高其对大众市场的吸引力，并证实其在中国较小的三线城市中渗透机会的努力。与中国大型科技公司相比，蔚来仍然是一个可投资的选择，因为考虑到其基础业务的增长前景并未因北京持续的监管打击而发生重大改变。虽然我们承认仍然存在监管问题，尤其是担心如果中国证监会和 PCAOB 在时间用完之前无法达成共识，可能会从纽约证券交易所退市，但该公司仍有望在未来几年实现显着的基本增长，因为全球电动汽车的采用继续加速。预计这也将提振蔚来汽车香港股票的上升趋势，并在最坏的情况下使美国的 ADR 持有人免受其投资的重大减值，如果随后从纽约证券交易所退市的话。正如我们之前对该股票的报道所分析的那样，根据蔚来汽车的历史基本增长趋势和未来的市场份额获得机会，我们的基本价格目标仍保持在 60 美元左右。但考虑到近期中国特定担忧和全球股市更广泛的宏观经济挑战引发的波动，我们进行了敏感性分析，以确定蔚来汽车当前股价的含义以及未来 12 个月内的走势。根据我们在此分析的基本情况基本面预测，蔚来汽车目前 18.75 美元(3 月 16 日收盘价)的股价意味着 -1% 的永久终端增长率。换句话说，市场目前对蔚来汽车的定价好像它处于衰退中的业务，而实际上它在未来几十年内仍然拥有巨大的增长机会。虽然全球向电动汽车的过渡迫在眉睫，但对新兴交通方式的持续采用仍处于起步阶段，这意味着蔚来汽车仍有显着的额外增长空间。BNEF 认为电动汽车的采用率处于拐点，当它们占8% 到 10%时在一个地区的年度新车总销量中——到目前为止，只有蔚来汽车业务所在的中国和挪威等欧盟部分地区最近取得了这样的统计数据，并继续朝着成为主流消费者选择的方向发展。NIO 基本案例估值分析(作者)蔚来当前隐含永续终端增长率(作者)蔚来当前隐含永续终端增长率假设在最保守的情况下，蔚来汽车的估值是基于隐含的永久增长假设与其核心市场(即中国、欧洲、美国)的长期经济前景一致，那么该股票的估值将是大约 30 美元。考虑到持续的市场不确定性，以及长期供应链问题和中国特定监管问题等特定行业的逆风，这可能是 2022 年蔚来股票的公平情景。根据该股 3 月 16 日的最后交易股价 18.75 美元，30.38 美元的 12 个月目标价仍意味着上涨潜力超过 60%。蔚来的估值前景与 GDP 的增长蔚来的估值前景与 GDP 的增长NIO 敏感性分析推动该股在未来 12 个月上涨至 30 美元的关键近期催化剂将包括按时交付新车型(即 ET7、ET5 和 ES7)的客户交付、持续的海外扩张、加速订单增长、缓解供应链限制，以及中国对海外上市的持续支持，我们预计管理层将在蔚来即将举行的财报电话会议上提供色彩：新车按时交付客户：ET7全尺寸轿车已经开始下线蔚来汽车的生产线，预计将于本月晚些时候开始首批客户交付。 与此同时，于 2021 年 12 月 NIO Day 期间亮相的 ET5 中型轿车将于秋季开始交付客户，之后将开始交付 ES7 SUV。由于 NIO 的 Q421 报告在本季度末(3 月 24 日)发布，我们预计管理层将提供有关新车型开始生产和客户交付的进展情况，以及它们的预订量和/或客户接受率。 我们对管理层正在按计划推出新车感到乐观，因为 ET7 已经在合肥 NIO House 进行试驾，这符合管理层早先对 2022 年初开始交付的预期。有关 NIO 进展的补充信息在其即将到来的财报电话会议上，其子品牌的发展也将受到投资者的欢迎，因为相关细节仍仅限于 21 年第二季度财报电话会议中简要提及的那些。积极的进展意味着蔚来汽车正在按计划取得进展，努力在快速采用电动汽车之前抢占大众市场份额，并加剧该行业的竞争，这将增强投资者对该股票长期增长前景的信心。继续海外扩张：作为海外扩张努力的一部分，蔚来汽车计划在今年晚些时候继续在挪威扩张，同时在德国、荷兰、丹麦和瑞典开设更多门店。由于欧洲目前是世界第二大电动汽车市场，如期进入该地区的进展对于蔚来汽车的长期业务前景以及改善作为全球电动汽车制造商的估值前景至关重要。加速增长：另一个值得关注的关键催化剂包括蔚来第四季度的增长趋势以及交付和订单/预订的当前年度/期间增长指导。订单量的增加将突显蔚来汽车在电动汽车需求激增之前抓住机会的持续实力，而持续的收入增长将意味着蔚来汽车产量增长的强劲改善。积极的增长趋势还将巩固蔚来汽车在迅速应对过去 12 个月颠覆汽车行业的前所未有的供应链限制和生产挑战方面的业绩记录。NIO 正在 NEO Park 扩建生产设施的任何更新也将进一步了解 NIO 未来的收入前景。缓解供应链限制：正如我们之前的报道中所讨论的，蔚来在应对持续的供应链困境方面表现出持续的实力。然而，尽管许多汽车制造商早些时候曾表示，持续的芯片供应短缺最严重的时期已经过去，但最近俄罗斯和乌克兰之间爆发的战争可能会在短期内给这种前景增加不确定性。尽管如此，预计供应链瓶颈将在下半年进一步缓解，这将进一步有利于蔚来在应对相关挑战方面继续保持领先于一些汽车同行的实力。同时，在大流行方面，最近在中国爆发的 COVID 迫使许多汽车制造商，如丰田 ( TM ) 和特斯拉 (TSLA )暂时停止生产。尽管没有任何关于蔚来汽车工厂关闭的消息，但我们预计与 COVID 相关的供应链和劳动力会出现一定程度的中断，但考虑到生产并未受到长时间停工的影响，预计相关影响不会很大。中国对海外上市的持续支持：根据最近在中概股的趋势，中国对海外上市的持续支持以及中国证监会和证监会在报告要求上寻求共同点的承诺仍然是最重要的情绪提振因素。04结论基于上述分析，蔚来的基本增长前景依然完好。这意味着该股票不值得目前低迷的价格表现，这反映了基于我们在前面部分的敏感性分析中业务下滑的前景。这家电动汽车制造商继续受益于强大的全球采用率，并在应对前所未有的供应链挑战方面继续表现出实力。尽管蔚来汽车的核心市场中国今年消费者信心有所回落，但计划于 2023 年结束的电动汽车补贴计划预计将通过提前购买决定提供部分补偿。蔚来今年即将推出的新车型预计将进一步补充这一趋势，并在充满挑战的宏观经济背景下支持持续的销售增长。我们建议以当前价格水平买入蔚来股票，考虑到它成为持续监管变化的直接目标的可能性很小，这意味着如上所述的其潜在业务增长前景保持不变。该股最近在香港回归上市也减轻了部分退市风险，其估值预计将在未来基本面机遇的推动下保持可持续增长。然而，投资选择并不适合所有人，投资者仍需要承认北京监管困境的潜在溢出影响，并能够承受美国交易所的退市风险，这可能会进一步抑制蔚来汽车的估值前景。","news_type":1,"symbols_score_info":{"QNETCN":0.9,"TTTN":0.9,"09866":0.9,"EVS.SI":0.6,"NIO":1}},"isVote":1,"tweetType":1,"viewCount":423,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9009932551,"gmtCreate":1640414958093,"gmtModify":1676533520389,"author":{"id":"3573976318383866","authorId":"3573976318383866","name":"小小小橘子","avatar":"https://community-static.tradeup.com/news/cdc454c1bd35f0fb1202ed00c9d6ff76","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573976318383866","idStr":"3573976318383866"},"themes":[],"htmlText":"&nbsp;t","listText":"&nbsp;t","text":"t","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9009932551","repostId":"1126078081","repostType":4,"repost":{"id":"1126078081","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":1640409940,"share":"https://ttm.financial/m/news/1126078081?lang=en_US&edition=fundamental","pubTime":"2021-12-25 13:25","market":"us","language":"zh","title":"Musk: A large number of Tesla cars will be delivered before the end of the year","url":"https://stock-news.laohu8.com/highlight/detail?id=1126078081","media":"老虎资讯综合","summary":"特斯拉CEO埃隆·马斯克发布微博称，“大量的特斯拉汽车将会在年底前交付。非常感谢各位客户对我们交付工作的支持。也同样感谢在假期中努力工作的特斯拉团队！”","content":"<p>Tesla CEO elon musk posted on Weibo, saying, \"A large number of Tesla cars will be delivered before the end of the year. Thank you very much for your support of our delivery work. Thank you also for working hard during the holidays. Tesla team!\"</p><p><img src=\"https://static.tigerbbs.com/fc9832256dc012a5048961118cf845a3\" tg-width=\"961\" tg-height=\"396\" width=\"100%\" height=\"auto\"></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>Musk: A large number of Tesla cars will be delivered before the end of the 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\">\nMusk: A large number of Tesla cars will be delivered before the end of the year\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-12-25 13:25</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Tesla CEO elon musk posted on Weibo, saying, \"A large number of Tesla cars will be delivered before the end of the year. Thank you very much for your support of our delivery work. Thank you also for working hard during the holidays. Tesla team!\"</p><p><img src=\"https://static.tigerbbs.com/fc9832256dc012a5048961118cf845a3\" tg-width=\"961\" tg-height=\"396\" width=\"100%\" height=\"auto\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/25938de6d968b35e73bf3575f330760e","relate_stocks":{"TSLA":"特斯拉"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126078081","content_text":"特斯拉CEO埃隆·马斯克发布微博称，“大量的特斯拉汽车将会在年底前交付。非常感谢各位客户对我们交付工作的支持。也同样感谢在假期中努力工作的特斯拉团队！”","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":509,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}