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rocat
rocat
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2021-06-29
Gg
Goldman Sachs: What will happen if inflation continues to rise?
目前标普500指数已处于历史新高，仅比高盛4300点的全年目标点位低1%。 但高盛首席股票策略师David Kostin警告称，4300的指数预期是建立在“通胀将减少，收益率会上升，拜登部分税改计划将
Goldman Sachs: What will happen if inflation continues to rise?
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rocat
rocat
·
2021-06-28
Oh no
Is Another Housing Bubble Building?
The price of housing has dominated financial news recently. For renters, the price of an average apa
Is Another Housing Bubble Building?
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rocat
rocat
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2021-06-27
Cool
Sorry, this post has been deleted
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rocat
rocat
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2021-06-25
Ok
Sorry, this post has been deleted
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rocat
rocat
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2021-06-23
..
Behind the "most expensive game card in history" lies a major corruption case.
一张纪念卡牌能有多贵？答案是8700万元。
Behind the "most expensive game card in history" lies a major corruption case.
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rocat
rocat
·
2021-06-22
Wah
Domestic "Internet Celebrity" Electric Vehicles: The Secret Behind Their Cheapness
国产廉价电动车，重出江湖。
Domestic "Internet Celebrity" Electric Vehicles: The Secret Behind Their Cheapness
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rocat
rocat
·
2021-06-22
.
Spark Thinking submitted its IPO application in the US, with first-quarter revenue growing by 202.7%.
据美国证券交易委员会文件：火花思维教育科技公司提交在美IPO申请，拟筹资达1亿美元，寻求在纳斯达克上市，股票代码为SPRK。 招股书显示，火花思维2019年营收为1.95亿元，2020年营收为11.7
Spark Thinking submitted its IPO application in the US, with first-quarter revenue growing by 202.7%.
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rocat
rocat
·
2021-06-21
Ok//
@SIONGBENG
: Good
3 Meme Stocks Wall Street Predicts Will Plunge More Than 20%
Meme stocks have been all the rage so far this year. That's understandable, with several of them del
3 Meme Stocks Wall Street Predicts Will Plunge More Than 20%
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rocat
rocat
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2021-06-21
Hi
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rocat
rocat
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2021-06-17
Hi
Musk-Touted CureVac Loses 49% of Value After Vaccine Setback
Company plunges After Covid Shot Falls Short With 47% Efficacy Effectiveness is far below that seen
Musk-Touted CureVac Loses 49% of Value After Vaccine Setback
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With temporary supplementary unemployment benefits expiring within the next 3-6 months, labor supply will rebound sharply by the end of the year, wage pressures will ease, and the U.S. core CPI will fall from the current 3.8% to 2.3% next year.</p><p>However, Kostin warned that the unexpected rise in US inflation would have a significant impact on the company's valuation and profit margins. If companies fail to raise prices enough to offset inflation, rising input costs, including wages, could put pressure on profit margins.</p><p>Based on Goldman Sachs' top-down model<b>For every 1% increase in U.S. core CPI inflation above the forecast, the revenue of S&P 500 companies will increase by about 1 percentage point, but net profit margins will decline by about 10 basis points.</b>With moderate changes in inflation, the S&P 500's earnings per share forecast relative to Goldman Sachs' average forecast will remain unchanged.</p><p>The continued rise in inflation will also have a \"significant adverse impact\" on the company's valuation.</p><p>Kostin said,<b>Continued rising inflation could lead the Federal Reserve to take more tightening measures than currently expected, rate hike ahead of schedule, and lower stock valuations.</b></p><p>Goldman Sachs currently expects the Federal Reserve to announce in December that it will begin tapering its bond purchases in early 2022 and begin rate hike in the second half of 2023.</p><p>Historically, the U.S. stock market has typically performed well in low-inflation market environments. Since 1960, the S&P 500 has achieved a median annual real return of 15% during periods of low inflation, compared to only 9% during periods of high inflation. During periods of high inflation, stocks perform better when inflation falls (15%) than when inflation rises (2%).</p><p>In terms of sub-sectors<b>Goldman Sachs believes that high inflation will boost the relative performance of stocks with higher pricing power. Sectors such as healthcare, energy, real estate, and consumer goods will outperform the broader market.</b></p><p><img src=\"https://static.tigerbbs.com/3a7e6661f82b9216df345728b0372948\" tg-width=\"640\" tg-height=\"415\" referrerpolicy=\"no-referrer\"></p><p>What happens if interest rates fall or rise beyond market expectations?</p><p>Goldman Sachs currently sets a benchmark target of 4,300 for the S&P 500, assuming that the 10-year US Treasury yield will rise to 1.9% by the end of 2021 and that the US stock P/E will remain stable at around 22x.</p><p>Goldman Sachs expects the rise in U.S. nominal Treasury Bond yields this year to be driven primarily by real interest rates and partly by rising global bond yields. The equity risk premium (ERP) will decline in the second half of this year, offsetting part of the impact of rising interest rates on stock valuations and keeping P/E roughly flat by the end of the year.</p><p>However, Goldman Sachs stated that if US Treasury yields fails to rise due to weak economic growth, corporate profits will also decline. This means that despite declining yields, the S&P 500 will also decline.</p><p>In another scenario, other things being equal, if interest rates rise more than Goldman Sachs expects and climb to 2.5% by the end of the year, the base level of the S&P 500 will fall to 3,550, representing a 17% decline from its current level.</p><p><img src=\"https://static.tigerbbs.com/0a18e76ae1ffa3f08ed14d09a8202109\" tg-width=\"640\" tg-height=\"433\" referrerpolicy=\"no-referrer\"></p><p>What will happen if Biden's tax reform fails?</p><p>Regarding Biden's tax reform, Goldman Sachs currently basically assumes that parts of all of Biden's tax proposals will become law by the end of the year and take effect in 2022, which will reduce the S&P 500's EPS by 5% compared to the forecast under current tax law. Under current tax policies, the S&P 500 is expected to earn $212 per share in 2022, representing a 10% increase.</p><p><img src=\"https://static.tigerbbs.com/08c9d54e29e6f312c60991cd3c4ebb65\" tg-width=\"640\" tg-height=\"428\" referrerpolicy=\"no-referrer\"></p><p>Regarding the details of the tax reform, Goldman Sachs expects the federal statutory corporate tax rate to be raised from 21% to 25%, instead of the 28% proposed by Biden. About half of the proposed overseas income tax increases will become law, raising the capital gains tax rate to 28% for high-income individuals.</p><p>Based on these assumptions,<b>Goldman Sachs expects the S&P 500's EPS to reach $202 in 2022 (a 5% increase from 2021), while under current tax policies, it expects EPS to reach $212 in 2022, a 10% increase.</b></p><p>According to Goldman Sachs' baseline forecast of 22.3 times P/E by the end of 2021,<b>If \"tax-free reform\" occurs, the bank will raise its 2022 S&P 500 EPS forecast by 5%, supporting the target of 4,500 points.</b></p><p>Kostin also stated that growth stocks are typically boosted if corporate income tax and capital gains tax are not raised. Regarding capital gains tax, if the tax increase policy is implemented later this year, growth stocks such as technology stocks face the greatest potential risk of being sold off.</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>Goldman Sachs: What will happen if inflation continues to rise?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Sachs: What will happen if inflation continues to rise?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-06-28 23:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The S&P 500 is currently at a record high, just 1% below Goldman Sachs' full-year target of 4,300 points.</p><p>However, David Kostin, chief equity strategist at Goldman Sachs, warned that the index expectation of 4300 is based on the macroeconomic assumption that \"inflation will decrease, yields will rise, and part of Biden's tax reform plan will be passed into law.\" If these assumptions change, US stocks may face volatility and correction risks.</p><p>What will happen if inflation continues to rise?</p><p>Goldman Sachs' current underlying assumption is that the surge in inflation will be temporary. With temporary supplementary unemployment benefits expiring within the next 3-6 months, labor supply will rebound sharply by the end of the year, wage pressures will ease, and the U.S. core CPI will fall from the current 3.8% to 2.3% next year.</p><p>However, Kostin warned that the unexpected rise in US inflation would have a significant impact on the company's valuation and profit margins. If companies fail to raise prices enough to offset inflation, rising input costs, including wages, could put pressure on profit margins.</p><p>Based on Goldman Sachs' top-down model<b>For every 1% increase in U.S. core CPI inflation above the forecast, the revenue of S&P 500 companies will increase by about 1 percentage point, but net profit margins will decline by about 10 basis points.</b>With moderate changes in inflation, the S&P 500's earnings per share forecast relative to Goldman Sachs' average forecast will remain unchanged.</p><p>The continued rise in inflation will also have a \"significant adverse impact\" on the company's valuation.</p><p>Kostin said,<b>Continued rising inflation could lead the Federal Reserve to take more tightening measures than currently expected, rate hike ahead of schedule, and lower stock valuations.</b></p><p>Goldman Sachs currently expects the Federal Reserve to announce in December that it will begin tapering its bond purchases in early 2022 and begin rate hike in the second half of 2023.</p><p>Historically, the U.S. stock market has typically performed well in low-inflation market environments. Since 1960, the S&P 500 has achieved a median annual real return of 15% during periods of low inflation, compared to only 9% during periods of high inflation. During periods of high inflation, stocks perform better when inflation falls (15%) than when inflation rises (2%).</p><p>In terms of sub-sectors<b>Goldman Sachs believes that high inflation will boost the relative performance of stocks with higher pricing power. Sectors such as healthcare, energy, real estate, and consumer goods will outperform the broader market.</b></p><p><img src=\"https://static.tigerbbs.com/3a7e6661f82b9216df345728b0372948\" tg-width=\"640\" tg-height=\"415\" referrerpolicy=\"no-referrer\"></p><p>What happens if interest rates fall or rise beyond market expectations?</p><p>Goldman Sachs currently sets a benchmark target of 4,300 for the S&P 500, assuming that the 10-year US Treasury yield will rise to 1.9% by the end of 2021 and that the US stock P/E will remain stable at around 22x.</p><p>Goldman Sachs expects the rise in U.S. nominal Treasury Bond yields this year to be driven primarily by real interest rates and partly by rising global bond yields. The equity risk premium (ERP) will decline in the second half of this year, offsetting part of the impact of rising interest rates on stock valuations and keeping P/E roughly flat by the end of the year.</p><p>However, Goldman Sachs stated that if US Treasury yields fails to rise due to weak economic growth, corporate profits will also decline. This means that despite declining yields, the S&P 500 will also decline.</p><p>In another scenario, other things being equal, if interest rates rise more than Goldman Sachs expects and climb to 2.5% by the end of the year, the base level of the S&P 500 will fall to 3,550, representing a 17% decline from its current level.</p><p><img src=\"https://static.tigerbbs.com/0a18e76ae1ffa3f08ed14d09a8202109\" tg-width=\"640\" tg-height=\"433\" referrerpolicy=\"no-referrer\"></p><p>What will happen if Biden's tax reform fails?</p><p>Regarding Biden's tax reform, Goldman Sachs currently basically assumes that parts of all of Biden's tax proposals will become law by the end of the year and take effect in 2022, which will reduce the S&P 500's EPS by 5% compared to the forecast under current tax law. Under current tax policies, the S&P 500 is expected to earn $212 per share in 2022, representing a 10% increase.</p><p><img src=\"https://static.tigerbbs.com/08c9d54e29e6f312c60991cd3c4ebb65\" tg-width=\"640\" tg-height=\"428\" referrerpolicy=\"no-referrer\"></p><p>Regarding the details of the tax reform, Goldman Sachs expects the federal statutory corporate tax rate to be raised from 21% to 25%, instead of the 28% proposed by Biden. About half of the proposed overseas income tax increases will become law, raising the capital gains tax rate to 28% for high-income individuals.</p><p>Based on these assumptions,<b>Goldman Sachs expects the S&P 500's EPS to reach $202 in 2022 (a 5% increase from 2021), while under current tax policies, it expects EPS to reach $212 in 2022, a 10% increase.</b></p><p>According to Goldman Sachs' baseline forecast of 22.3 times P/E by the end of 2021,<b>If \"tax-free reform\" occurs, the bank will raise its 2022 S&P 500 EPS forecast by 5%, supporting the target of 4,500 points.</b></p><p>Kostin also stated that growth stocks are typically boosted if corporate income tax and capital gains tax are not raised. Regarding capital gains tax, if the tax increase policy is implemented later this year, growth stocks such as technology stocks face the greatest potential risk of being sold off.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3634039\">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/4b6684517506a0b0f4c4c5a1c4889261","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://wallstreetcn.com/articles/3634039","is_english":false,"share_image_url":"https://static.laohu8.com/cc96873d3d23ee6ac10685520df9c100","article_id":"1144270623","content_text":"目前标普500指数已处于历史新高，仅比高盛4300点的全年目标点位低1%。\n但高盛首席股票策略师David Kostin警告称，4300的指数预期是建立在“通胀将减少，收益率会上升，拜登部分税改计划将通过成为法律”的宏观假设基础上的，如果上述假设出现变化，美股可能存在波动及回调风险。\n如果通胀持续上行会发生什么？\n目前高盛的基础假设是，通货膨胀飙升会是暂时的。随着未来3-6个月内临时补充的失业救济到期，劳动力供应将在年底前大幅反弹，薪资压力将得到缓解，美国核心CPI明年将从目前的3.8%下降到2.3%。\n但Kostin警告称，美国通胀的超预期上行将对公司估值及利润率造成重大影响。如果企业未能将价格提高到足以抵消通胀的程度，包括工资在内投入成本不断上升可能会对利润率构成压力。\n基于高盛的自上向下的模型，美国核心CPI通胀每超出预测值1%，标普500指数成分股企业营收也将增长大约1个百分点，但净利润率会下滑10个基点左右。而在通胀温和变化的情况下，标准普尔500指数的每股收益相对于高盛的平均预测将保持不变。\n通胀的持续上行也将对公司估值构成“重大的不利影响”。\nKostin表示，通胀的持续上升可能导致美联储采取比目前预期更多的紧缩措施，提前加息并拉低股票估值。\n目前高盛预计美联储将在12月宣布将在2022年初开始缩减购债规模，并在2023年下半年开始加息。\n从历史角度，美国股市在低通胀的市场环境下通常表现较好。自1960年以来，标准普尔500指数在低通胀时期的年均实际回报率中值为15%，而在高通胀时期仅为9%。而在高通胀时期，股票在通胀下降（15%）的情况下比在通胀上升（2%）的情况下表现更好。\n在细分板块上，高盛认为高通胀将提振具有较高定价权的股票的相对表现。医疗保健、能源、房地产和消费品等板块将跑赢大盘。\n\n如果利率下降或上升超过市场预期会发生什么?\n目前高盛给予标普500指数的基准目标位定为4300，其假设条件是，10年期美债收益率到2021年底将升至1.9%，且美股市盈率将稳定在22x左右。\n高盛预计今年美国名义国债收益率的上升将主要受实际利率的推动，部分受全球债券收益率上升的推动；而股票风险溢价(ERP)将在今年下半年下降，抵消利率上升对股票估值的部分影响，并使市盈率在年底前大致持平。\n但高盛表示，如果美债利率因经济增长疲软而未能上升，那么企业的盈利也将下降。这意味着，尽管收益率下降，标准普尔500指数也会下降。\n在另一种情况下，在其他情况不变的情况下，如果利率上涨超出高盛的预期，到年底攀升至2.5%，标普500指数的基础点位将下降至3550，较目前点位有17%的下跌空间。\n\n如果拜登税改失败会发生什么？\n在拜登税改方面，目前高盛基本假设认为，拜登的全部税收提案的部分内容将在年底前成为法律，并于2022年生效，这将使标普500指数的EPS较现行税法下的预测下降5%。而在当前税收政策下，预计标普500指数2022年的每股收益将达到212美元，增幅为10%。\n\n在税改细节方面，高盛预计，联邦法定企业税率将从21%上调至25%，而不是拜登提议的28%。拟议的海外所得税上调计划中大约有一半将成为法律，高收入个人的资本利得税税率将提高到28%。\n基于这些假设，高盛预计标普500指数2022年的EPS将达到202美元（比2021年增长5%），而在当前税收政策下，预计2022年的EPS将达到212美元，增幅为10%。\n根据高盛对2021年底市盈率22.3倍的基本预测，如果出现“无税制改革”的情况，该行对2022年标普500指数EPS的预期将提高5%，支持4500点的目标位。\nKostin同时表示，如果企业所得税和资本利得税没有提高，成长型股票通常受到提振。在资本利得税方面，如果今年晚些时候增税政策落地，科技类股等成长型股票遭受抛售的潜在风险最大。","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":6711,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127434704,"gmtCreate":1624862117408,"gmtModify":1703846458798,"author":{"id":"3576405243338366","authorId":"3576405243338366","name":"rocat","avatar":"https://static.tigerbbs.com/e537c7a4cf09b6014ec1c1754eac4da9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576405243338366","idStr":"3576405243338366"},"themes":[],"title":"","htmlText":"Oh no ","listText":"Oh no ","text":"Oh no","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/127434704","repostId":"1163833569","repostType":4,"repost":{"id":"1163833569","kind":"news","pubTimestamp":1624860588,"share":"https://ttm.financial/m/news/1163833569?lang=en_US&edition=fundamental","pubTime":"2021-06-28 14:09","market":"us","language":"en","title":"Is Another Housing Bubble Building?","url":"https://stock-news.laohu8.com/highlight/detail?id=1163833569","media":"thestreet","summary":"The price of housing has dominated financial news recently. For renters, the price of an average apa","content":"<p>The price of housing has dominated financial news recently. For renters, the price of an average apartment takes up an ever-greater share of personal income every year. This is particularly true in big cities, where a one-bedroom apartment can often cost between $2,500 and $3,000.</p>\n<p>But the real headlines have been in the market for single-family housing. In many communities home prices have increased by between 30% and 50% in just the past two years. This has led median prices for a starter home over $280,000 nationwide, and to nearly $500,000 in the towns and suburbs near major cities.</p>\n<p>OnReal Money, contributor Doug Kass takes a quick aim at spiraling home prices. “We need more lower cost homes to ease the intense upward price pressures but we know how difficult it is right now to deliver enough of them. More than 10 years of underinvestment because of the Fed-induced housing boom and bust means we need a lot more homes,” he writes.</p>\n<p>“I have been warning that much higher home prices (and reduced affordability) would create a cyclical peak in residential real estate (homebuilder stocks have begun to roll over recently),” Kass says.</p>\n<p>Is another bubble building?</p>\n<p>While there’s no way of knowing, one warning sign is the ratio of house prices to incomes. Credit standards have remained tight, and banks haven’t weakened their standards on down payments. That isn’t necessarily a good thing though.</p>\n<p>One of the biggest causes behind the housing crash of 2008 was the growing degree to which people struggled to keep up with their own mortgages in a highly overheated market that had sent prices climbing.</p>\n<p>As Kass points out in his diary, today prices aren’t just climbing, they’re soaring. Compared to 2008, buyers now have to spend more of their income keeping up with the minimum mortgage it takes to buy even a small house. They have to lay out more of their savings on the down payment.</p>\n<p>The ratio of house prices-to-household income is higher than it was going into the Great Recession. That isn’t necessarily a warning sign. But it isn’t good, either.</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>Is Another Housing Bubble Building?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs Another Housing Bubble Building?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-28 14:09 GMT+8 <a href=https://www.thestreet.com/investing/is-another-housing-bubble-building><strong>thestreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The price of housing has dominated financial news recently. For renters, the price of an average apartment takes up an ever-greater share of personal income every year. This is particularly true in ...</p>\n\n<a href=\"https://www.thestreet.com/investing/is-another-housing-bubble-building\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.thestreet.com/investing/is-another-housing-bubble-building","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163833569","content_text":"The price of housing has dominated financial news recently. For renters, the price of an average apartment takes up an ever-greater share of personal income every year. This is particularly true in big cities, where a one-bedroom apartment can often cost between $2,500 and $3,000.\nBut the real headlines have been in the market for single-family housing. In many communities home prices have increased by between 30% and 50% in just the past two years. This has led median prices for a starter home over $280,000 nationwide, and to nearly $500,000 in the towns and suburbs near major cities.\nOnReal Money, contributor Doug Kass takes a quick aim at spiraling home prices. “We need more lower cost homes to ease the intense upward price pressures but we know how difficult it is right now to deliver enough of them. More than 10 years of underinvestment because of the Fed-induced housing boom and bust means we need a lot more homes,” he writes.\n“I have been warning that much higher home prices (and reduced affordability) would create a cyclical peak in residential real estate (homebuilder stocks have begun to roll over recently),” Kass says.\nIs another bubble building?\nWhile there’s no way of knowing, one warning sign is the ratio of house prices to incomes. Credit standards have remained tight, and banks haven’t weakened their standards on down payments. That isn’t necessarily a good thing though.\nOne of the biggest causes behind the housing crash of 2008 was the growing degree to which people struggled to keep up with their own mortgages in a highly overheated market that had sent prices climbing.\nAs Kass points out in his diary, today prices aren’t just climbing, they’re soaring. Compared to 2008, buyers now have to spend more of their income keeping up with the minimum mortgage it takes to buy even a small house. They have to lay out more of their savings on the down payment.\nThe ratio of house prices-to-household income is higher than it was going into the Great Recession. That isn’t necessarily a warning sign. But it isn’t good, either.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":4556,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":124386801,"gmtCreate":1624742727003,"gmtModify":1703844228426,"author":{"id":"3576405243338366","authorId":"3576405243338366","name":"rocat","avatar":"https://static.tigerbbs.com/e537c7a4cf09b6014ec1c1754eac4da9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576405243338366","idStr":"3576405243338366"},"themes":[],"title":"","htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/124386801","repostId":"2146107083","repostType":4,"isVote":1,"tweetType":1,"viewCount":5185,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126619902,"gmtCreate":1624558223706,"gmtModify":1703840375255,"author":{"id":"3576405243338366","authorId":"3576405243338366","name":"rocat","avatar":"https://static.tigerbbs.com/e537c7a4cf09b6014ec1c1754eac4da9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576405243338366","idStr":"3576405243338366"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/126619902","repostId":"1147667017","repostType":4,"isVote":1,"tweetType":1,"viewCount":4769,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129709355,"gmtCreate":1624385956777,"gmtModify":1703835239846,"author":{"id":"3576405243338366","authorId":"3576405243338366","name":"rocat","avatar":"https://static.tigerbbs.com/e537c7a4cf09b6014ec1c1754eac4da9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576405243338366","idStr":"3576405243338366"},"themes":[],"title":"","htmlText":".. ","listText":".. ","text":"..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/129709355","repostId":"1191907311","repostType":4,"repost":{"id":"1191907311","kind":"news","pubTimestamp":1624372217,"share":"https://ttm.financial/m/news/1191907311?lang=en_US&edition=fundamental","pubTime":"2021-06-22 22:30","market":"sh","language":"zh","title":"Behind the \"most expensive game card in history\" lies a major corruption case.","url":"https://stock-news.laohu8.com/highlight/detail?id=1191907311","media":"雷达财经","summary":"一张纪念卡牌能有多贵？答案是8700万元。","content":"<p>By Zhang Kaijing</p><p>How expensive can a commemorative card be? The answer is 87 million yuan.</p><p>On June 21, 2021, the limited-edition Yu-Gi-Oh! card \"Blue-Eyed White Dragon\" exceeded 87 million yuan in just half an hour after its auction began on Alibaba Auction. Platform data shows that it went through 2,105 rounds of bidding, and more than 2.32 million people watched the grand auction. Ultimately, the auction was suspended due to possible malicious speculation and bidding. A day later, another personal item belonging to the same owner—a USB flash drive—was also auctioned for a record-breaking price of nearly 40,000 yuan, and the auction was also forcibly suspended.</p><p>Yan Chuang, a lawyer at Beijing Zhongwen Law Firm, told Radar Finance that if a participant in a judicial auction is found to have engaged in malicious bidding, the people's court can impose fines or detention depending on the severity of the circumstances, and if a crime is constituted, criminal liability can be pursued in accordance with the law. If the last person to complete the transaction fails to pay on time and the auction is re-auctioned, they should also bear the resulting price difference and cost losses. However, based on the current situation, due to the cancellation of the auction, the final bidder will not be held accountable.</p><p>Radar Finance noted that some people had previously been punished for making malicious bids and regretting their bids. In addition, Alibaba Auction has also warned of the risk of regretting the auction.</p><p>It is worth mentioning that behind this auction lies a major corruption case. In November 2020, Zhang Yujie, an employee of a company in Chuzhou, was sentenced to life imprisonment on suspicion of embezzlement and had all his personal property confiscated. It's worth mentioning that the \"luxury goods\" he purchased with the 69.9325 million yuan he embezzled included, in addition to the \"Blue-Eyed White Dragon\" Yu-Gi-Oh! pure gold card, a Rolex watch, a 1982 Lafite...</p><p><b>Yu-Gi-Oh! cards started at 80 yuan and fetched a record-breaking 87 million yuan.</b></p><p>The Yu-Gi-Oh! \"Blue-Eyed White Dragon\" being auctioned this time is a limited edition card made of approximately 11g of 24K gold, making it a top-tier collectible among collectible cards.</p><p>Yu-Gi-Oh! is an anime that aired in Japan after 2000, focusing on card monster duels and seven ancient artifacts. Its card game is the world's best-selling collectible card game developed by KONAMI and certified by Guinness World Records. Currently, the cumulative sales of this series of cards have exceeded 25.17 billion.</p><p>According to media reports, the card series is limited to 500 sets, each with a unique collection number and certificate printed with \"No.1-500\". The official price is 200,000 yen (about 12,000 yuan), and the market price is around 200,000-300,000 yuan.</p><p>Radar Finance noted that this price was not particularly outstanding in the history of Yu-Gi-Oh! cards. Previously, a Japanese netizen posted a photo of a \"Blue-Eyed Ultimate Dragon\" priced at 45 million yen. It is said to be the championship prize of the 2001 Asian Championships and is the only one of its kind in the world. Some people even listed the \"Chaos Warrior\" prize card from an official competition in 2000 on an online store, priced at 999.8 million yen, which is equivalent to over 58 million RMB today.</p><p><img src=\"https://static.tigerbbs.com/6624224470d5695709484e2e4c7d7420\" tg-width=\"549\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p><p>However, after fetching a record-breaking 87 million yuan at auction, this \"Blue-Eyed White Dragon\" card has undoubtedly broken the previous record and become the highest-priced Yu-Gi-Oh card auctioned in the world.</p><p>According to data from Alibaba Auction, a total of 18,104 people registered for the auction, 76,716 people set reminders, and more than 2.3 million views. According to a content creator who participated in the auction, the starting price was only 80 yuan because the original owner entrusted a friend to purchase it from Japan, but then threw away the packaging box and certificate when going through customs to avoid taxes.</p><p>At 4:00 PM on June 21, the card auction officially began. As of 4:32:34 PM, 2,105 people had bid. Before the auction was halted, the last netizen to bid was Y8745, with a bid of 87,326,098 yuan.</p><p>According to statistics compiled by netizens, Y8745 was bid on three times. 25 minutes after the auction began, the bid amounts were 52156075, 54106076, and finally 87326098. The top three bidders bid 47, 33, and 25 times, respectively.</p><p><b>After the most expensive Yu-Gi-Oh! card in history, the most expensive USB flash drive in history has appeared.</b></p><p>It is worth mentioning that on June 22, another property under the name of the original owner of \"Blue-Eyed White Dragon\"—a SanDisk USB drive—was also suspended from auction due to \"a serious discrepancy between the value of the auction item and the actual auction price, which may indicate malicious price gouging.\"</p><p>In an announcement regarding a USB flash drive owned by the judgment debtor, the Chuzhou Intermediate People's Court of Anhui Province stated that the starting bid for the USB flash drive was 40 yuan, the appraised price was 50 yuan, the service life was unknown, it had not been used for a long time, there were no accessories or instructions, and it was unknown whether it could be used normally.</p><p>However, by the end of June 21, the bidding price for the USB drive had risen to 1,512 yuan. As of 3:21:45 PM on June 22, before the auction was suspended, the auction price of the USB drive reached 39,810 yuan, with a total of 1,186 bids and attracting more than 290,000 views.</p><p><img src=\"https://static.tigerbbs.com/668ef66d7a88165ee2e260cc041e0701\" tg-width=\"1080\" tg-height=\"329\" referrerpolicy=\"no-referrer\"></p><p>\"This must be the most expensive USB drive in history, right?\" one netizen exclaimed. According to the images displayed, the USB flash drive has only 4GB of memory. Radar Finance's search revealed that the most expensive USB flash drive on the SanDisk flagship store is currently priced at 1499 yuan, with 1TB of memory, which is more than 250 times the price of the auctioned USB flash drive. However, there are also rumors that the reason the USB drive is being snapped up is because it contains the key to Bitcoin.</p><p>\"There have been two consecutive instances of malicious price gouging for a series of items in the same case, and the auction of other items has been terminated.\" According to the platform's announcement, due to the exorbitant prices of Yu-Gi-Oh! cards and USB flash drives in the past two days, the auction of other items of the holder has been suspended.</p><p><img src=\"https://static.tigerbbs.com/38b505dfca4e980f39ff75f7eff2e359\" tg-width=\"977\" tg-height=\"459\" referrerpolicy=\"no-referrer\"></p><p><b>Lawyer: Malicious bidding must bear serious consequences</b></p><p>\"The deposit is not high, but netizens think it's fun and don't understand the seriousness of judicial auctions,\" said lawyer Yan Chuang.</p><p>According to Article 111 of the Civil Procedure Law of the People's Republic of China and Article 187 of the Interpretation of the Supreme People's Court on the Application of the Civil Procedure Law of the People's Republic of China, the people's court may impose fines or detain buyers who maliciously raise prices in judicial online auctions and disrupt the order of judicial auctions. If a crime is constituted, criminal liability shall be pursued in accordance with the law.</p><p>Yan Chuang explained that malicious bidding refers to the behavior of individuals participating in judicial auctions who, without genuine intention to purchase, register false personal information, collude with the person subject to enforcement, or knowingly lack the ability to pay, still bid against others and maliciously raise prices to prevent others from bidding normally, resulting in failed auctions and other behaviors that hinder or interfere with court enforcement and judicial auction activities.</p><p>In addition, relevant laws stipulate that even if the buyer regrets the purchase after a judicial online auction, the deposit paid by the buyer will not be refunded. If the buyer fails to pay the price within the time limit, the people's court may order a re-auction. If the reauction price is lower than the original auction price, the resulting price difference, cost losses, etc., shall also be borne by the original buyer.</p><p>\"The last transaction is the one with the highest price. If they fail to pay on time and the auction is re-auctioned, they will have to bear the resulting price difference and cost losses,\" Yan Chuang pointed out.</p><p>However, Yan Chuang also admitted that the auction has been canceled, and the last bidder does not need to bear the corresponding responsibility. \"The public still needs to raise their legal awareness.\"</p><p>Radar Finance noted that in Alibaba's auction notice, a bidder had previously breached the contract and was judicially detained for 15 days and fined 100,000 yuan.</p><p><img src=\"https://static.tigerbbs.com/ed663f33627d1f4b7d6b37576e2b854d\" tg-width=\"601\" tg-height=\"796\" referrerpolicy=\"no-referrer\"></p><p><img src=\"https://static.tigerbbs.com/7e7d1fe16c72c8e3516881f5da185280\" tg-width=\"604\" tg-height=\"522\" referrerpolicy=\"no-referrer\"></p><p><b>The origin of the major corruption case five years ago</b></p><p>Behind the most expensive Yu-Gi-Oh! cards and USB flash drives auctioned this time lies a major corruption case.</p><p>According to the indictment released by the Chuzhou Municipal People's Procuratorate of Anhui Province, Zhang Yujie, the original holder of the \"Blue-Eyed White Dragon\" Yu-Gi-Oh! pure gold card, was born in 1995. Between 2016 and April 2019, taking advantage of his position in the custody of existing housing funds at a company in Chuzhou City, he embezzled a total of 69.9325 million yuan of existing housing custody funds multiple times by directly embezzling the custody funds without recording them in the accounts and falsifying the facts of receipt.</p><p>Specifically, Zhang Yujie embezzled escrow funds paid by 399 homebuyers. He also purchased two properties in Chuzhou City in the name of his then-girlfriend Zhou Moumou. Without paying the purchase price, he issued false escrow certificates for existing housing transaction funds in Chuzhou City and embezzled 2.6 million yuan and 3.9 million yuan of escrow funds based on the false escrow certificates.</p><p>According to Alibaba's auction announcement, Zhang Yujie used \"illicit funds\" to purchase assets including Hainan huanghuali wooden bracelets, eight Rolex, GUCCI, and OMEGA watches, three DIOR glasses, 10 bottles of highly collectible red wine, including Château Lafite 1982 dry red wine, and commemorative banknotes. However, what best highlights his personality are his electronic products. Including BRIKK gold-plated and diamond-encrusted game controllers, a 500 million limited edition PS4 Pro console, a limited edition PS4 Pro console for God of War 4, 3 Switch consoles, 4 Alien computers, a large number of Sony and beats headphones, 4 Apple tablets, 2 laptops, 11 mobile phones...</p><p><img src=\"https://static.tigerbbs.com/febc5320757fdea9e3866b27dbf3d2eb\" tg-width=\"1080\" tg-height=\"586\" referrerpolicy=\"no-referrer\"></p><p>Public information shows that the gold-plated and diamond-encrusted PS4 controller deluxe edition is priced at approximately $14,000, the 500 million limited edition PS4 Pro console is priced at 3,799 yuan, and the God of War 4 limited edition PS4 Pro console is priced at approximately $400.</p><p>In March 2020, Zhang Yujie was detained by the Tianchang Municipal Supervisory Commission on suspicion of embezzlement. Two months later, he was arrested by the Tianchang Municipal Public Security Bureau. In November of the same year, Zhang Yujie was sentenced to life imprisonment and all of his personal property was confiscated.</p>","source":"lsy1575359225748","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>Behind the \"most expensive game card in history\" lies a major corruption case.</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\">\nBehind the \"most expensive game card in history\" lies a major corruption case.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">雷达财经</strong><span class=\"h-time small\">2021-06-22 22:30</span>\n</p>\n</h4>\n</header>\n<article>\n<p>By Zhang Kaijing</p><p>How expensive can a commemorative card be? The answer is 87 million yuan.</p><p>On June 21, 2021, the limited-edition Yu-Gi-Oh! card \"Blue-Eyed White Dragon\" exceeded 87 million yuan in just half an hour after its auction began on Alibaba Auction. Platform data shows that it went through 2,105 rounds of bidding, and more than 2.32 million people watched the grand auction. Ultimately, the auction was suspended due to possible malicious speculation and bidding. A day later, another personal item belonging to the same owner—a USB flash drive—was also auctioned for a record-breaking price of nearly 40,000 yuan, and the auction was also forcibly suspended.</p><p>Yan Chuang, a lawyer at Beijing Zhongwen Law Firm, told Radar Finance that if a participant in a judicial auction is found to have engaged in malicious bidding, the people's court can impose fines or detention depending on the severity of the circumstances, and if a crime is constituted, criminal liability can be pursued in accordance with the law. If the last person to complete the transaction fails to pay on time and the auction is re-auctioned, they should also bear the resulting price difference and cost losses. However, based on the current situation, due to the cancellation of the auction, the final bidder will not be held accountable.</p><p>Radar Finance noted that some people had previously been punished for making malicious bids and regretting their bids. In addition, Alibaba Auction has also warned of the risk of regretting the auction.</p><p>It is worth mentioning that behind this auction lies a major corruption case. In November 2020, Zhang Yujie, an employee of a company in Chuzhou, was sentenced to life imprisonment on suspicion of embezzlement and had all his personal property confiscated. It's worth mentioning that the \"luxury goods\" he purchased with the 69.9325 million yuan he embezzled included, in addition to the \"Blue-Eyed White Dragon\" Yu-Gi-Oh! pure gold card, a Rolex watch, a 1982 Lafite...</p><p><b>Yu-Gi-Oh! cards started at 80 yuan and fetched a record-breaking 87 million yuan.</b></p><p>The Yu-Gi-Oh! \"Blue-Eyed White Dragon\" being auctioned this time is a limited edition card made of approximately 11g of 24K gold, making it a top-tier collectible among collectible cards.</p><p>Yu-Gi-Oh! is an anime that aired in Japan after 2000, focusing on card monster duels and seven ancient artifacts. Its card game is the world's best-selling collectible card game developed by KONAMI and certified by Guinness World Records. Currently, the cumulative sales of this series of cards have exceeded 25.17 billion.</p><p>According to media reports, the card series is limited to 500 sets, each with a unique collection number and certificate printed with \"No.1-500\". The official price is 200,000 yen (about 12,000 yuan), and the market price is around 200,000-300,000 yuan.</p><p>Radar Finance noted that this price was not particularly outstanding in the history of Yu-Gi-Oh! cards. Previously, a Japanese netizen posted a photo of a \"Blue-Eyed Ultimate Dragon\" priced at 45 million yen. It is said to be the championship prize of the 2001 Asian Championships and is the only one of its kind in the world. Some people even listed the \"Chaos Warrior\" prize card from an official competition in 2000 on an online store, priced at 999.8 million yen, which is equivalent to over 58 million RMB today.</p><p><img src=\"https://static.tigerbbs.com/6624224470d5695709484e2e4c7d7420\" tg-width=\"549\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p><p>However, after fetching a record-breaking 87 million yuan at auction, this \"Blue-Eyed White Dragon\" card has undoubtedly broken the previous record and become the highest-priced Yu-Gi-Oh card auctioned in the world.</p><p>According to data from Alibaba Auction, a total of 18,104 people registered for the auction, 76,716 people set reminders, and more than 2.3 million views. According to a content creator who participated in the auction, the starting price was only 80 yuan because the original owner entrusted a friend to purchase it from Japan, but then threw away the packaging box and certificate when going through customs to avoid taxes.</p><p>At 4:00 PM on June 21, the card auction officially began. As of 4:32:34 PM, 2,105 people had bid. Before the auction was halted, the last netizen to bid was Y8745, with a bid of 87,326,098 yuan.</p><p>According to statistics compiled by netizens, Y8745 was bid on three times. 25 minutes after the auction began, the bid amounts were 52156075, 54106076, and finally 87326098. The top three bidders bid 47, 33, and 25 times, respectively.</p><p><b>After the most expensive Yu-Gi-Oh! card in history, the most expensive USB flash drive in history has appeared.</b></p><p>It is worth mentioning that on June 22, another property under the name of the original owner of \"Blue-Eyed White Dragon\"—a SanDisk USB drive—was also suspended from auction due to \"a serious discrepancy between the value of the auction item and the actual auction price, which may indicate malicious price gouging.\"</p><p>In an announcement regarding a USB flash drive owned by the judgment debtor, the Chuzhou Intermediate People's Court of Anhui Province stated that the starting bid for the USB flash drive was 40 yuan, the appraised price was 50 yuan, the service life was unknown, it had not been used for a long time, there were no accessories or instructions, and it was unknown whether it could be used normally.</p><p>However, by the end of June 21, the bidding price for the USB drive had risen to 1,512 yuan. As of 3:21:45 PM on June 22, before the auction was suspended, the auction price of the USB drive reached 39,810 yuan, with a total of 1,186 bids and attracting more than 290,000 views.</p><p><img src=\"https://static.tigerbbs.com/668ef66d7a88165ee2e260cc041e0701\" tg-width=\"1080\" tg-height=\"329\" referrerpolicy=\"no-referrer\"></p><p>\"This must be the most expensive USB drive in history, right?\" one netizen exclaimed. According to the images displayed, the USB flash drive has only 4GB of memory. Radar Finance's search revealed that the most expensive USB flash drive on the SanDisk flagship store is currently priced at 1499 yuan, with 1TB of memory, which is more than 250 times the price of the auctioned USB flash drive. However, there are also rumors that the reason the USB drive is being snapped up is because it contains the key to Bitcoin.</p><p>\"There have been two consecutive instances of malicious price gouging for a series of items in the same case, and the auction of other items has been terminated.\" According to the platform's announcement, due to the exorbitant prices of Yu-Gi-Oh! cards and USB flash drives in the past two days, the auction of other items of the holder has been suspended.</p><p><img src=\"https://static.tigerbbs.com/38b505dfca4e980f39ff75f7eff2e359\" tg-width=\"977\" tg-height=\"459\" referrerpolicy=\"no-referrer\"></p><p><b>Lawyer: Malicious bidding must bear serious consequences</b></p><p>\"The deposit is not high, but netizens think it's fun and don't understand the seriousness of judicial auctions,\" said lawyer Yan Chuang.</p><p>According to Article 111 of the Civil Procedure Law of the People's Republic of China and Article 187 of the Interpretation of the Supreme People's Court on the Application of the Civil Procedure Law of the People's Republic of China, the people's court may impose fines or detain buyers who maliciously raise prices in judicial online auctions and disrupt the order of judicial auctions. If a crime is constituted, criminal liability shall be pursued in accordance with the law.</p><p>Yan Chuang explained that malicious bidding refers to the behavior of individuals participating in judicial auctions who, without genuine intention to purchase, register false personal information, collude with the person subject to enforcement, or knowingly lack the ability to pay, still bid against others and maliciously raise prices to prevent others from bidding normally, resulting in failed auctions and other behaviors that hinder or interfere with court enforcement and judicial auction activities.</p><p>In addition, relevant laws stipulate that even if the buyer regrets the purchase after a judicial online auction, the deposit paid by the buyer will not be refunded. If the buyer fails to pay the price within the time limit, the people's court may order a re-auction. If the reauction price is lower than the original auction price, the resulting price difference, cost losses, etc., shall also be borne by the original buyer.</p><p>\"The last transaction is the one with the highest price. If they fail to pay on time and the auction is re-auctioned, they will have to bear the resulting price difference and cost losses,\" Yan Chuang pointed out.</p><p>However, Yan Chuang also admitted that the auction has been canceled, and the last bidder does not need to bear the corresponding responsibility. \"The public still needs to raise their legal awareness.\"</p><p>Radar Finance noted that in Alibaba's auction notice, a bidder had previously breached the contract and was judicially detained for 15 days and fined 100,000 yuan.</p><p><img src=\"https://static.tigerbbs.com/ed663f33627d1f4b7d6b37576e2b854d\" tg-width=\"601\" tg-height=\"796\" referrerpolicy=\"no-referrer\"></p><p><img src=\"https://static.tigerbbs.com/7e7d1fe16c72c8e3516881f5da185280\" tg-width=\"604\" tg-height=\"522\" referrerpolicy=\"no-referrer\"></p><p><b>The origin of the major corruption case five years ago</b></p><p>Behind the most expensive Yu-Gi-Oh! cards and USB flash drives auctioned this time lies a major corruption case.</p><p>According to the indictment released by the Chuzhou Municipal People's Procuratorate of Anhui Province, Zhang Yujie, the original holder of the \"Blue-Eyed White Dragon\" Yu-Gi-Oh! pure gold card, was born in 1995. Between 2016 and April 2019, taking advantage of his position in the custody of existing housing funds at a company in Chuzhou City, he embezzled a total of 69.9325 million yuan of existing housing custody funds multiple times by directly embezzling the custody funds without recording them in the accounts and falsifying the facts of receipt.</p><p>Specifically, Zhang Yujie embezzled escrow funds paid by 399 homebuyers. He also purchased two properties in Chuzhou City in the name of his then-girlfriend Zhou Moumou. Without paying the purchase price, he issued false escrow certificates for existing housing transaction funds in Chuzhou City and embezzled 2.6 million yuan and 3.9 million yuan of escrow funds based on the false escrow certificates.</p><p>According to Alibaba's auction announcement, Zhang Yujie used \"illicit funds\" to purchase assets including Hainan huanghuali wooden bracelets, eight Rolex, GUCCI, and OMEGA watches, three DIOR glasses, 10 bottles of highly collectible red wine, including Château Lafite 1982 dry red wine, and commemorative banknotes. However, what best highlights his personality are his electronic products. Including BRIKK gold-plated and diamond-encrusted game controllers, a 500 million limited edition PS4 Pro console, a limited edition PS4 Pro console for God of War 4, 3 Switch consoles, 4 Alien computers, a large number of Sony and beats headphones, 4 Apple tablets, 2 laptops, 11 mobile phones...</p><p><img src=\"https://static.tigerbbs.com/febc5320757fdea9e3866b27dbf3d2eb\" tg-width=\"1080\" tg-height=\"586\" referrerpolicy=\"no-referrer\"></p><p>Public information shows that the gold-plated and diamond-encrusted PS4 controller deluxe edition is priced at approximately $14,000, the 500 million limited edition PS4 Pro console is priced at 3,799 yuan, and the God of War 4 limited edition PS4 Pro console is priced at approximately $400.</p><p>In March 2020, Zhang Yujie was detained by the Tianchang Municipal Supervisory Commission on suspicion of embezzlement. Two months later, he was arrested by the Tianchang Municipal Public Security Bureau. In November of the same year, Zhang Yujie was sentenced to life imprisonment and all of his personal property was confiscated.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/h3GLEKF7fJ7gkRSxVxq2zw\">雷达财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/1e584cf3e83856adee20fc26b5873221","relate_stocks":{},"source_url":"https://mp.weixin.qq.com/s/h3GLEKF7fJ7gkRSxVxq2zw","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191907311","content_text":"文|张凯旌\n一张纪念卡牌能有多贵？答案是8700万元。\n2021年6月21日，游戏王限量卡牌“青眼白龙”在阿里拍卖开拍仅半小时后，竞买价格就突破了8700万元。平台数据显示，其共经历2105轮竞买，有超过232万人围观了此次拍卖会的盛况。最终，因可能存在恶意炒作与竞价行为，本场拍卖被中止。一天后，相同持有人的另一私人物品——U盘也被拍出近4万元的天价，而这场拍卖同样遭到了强制中止。\n北京市中闻律师事务所律师闫创对雷达财经表示，若参与司法拍卖的人员被认定属于恶意竞拍，人民法院可以根据情节严重程度予以罚款、拘留，构成犯罪的还可以依法追究刑事责任。最后一个成交的人如果因逾期不支付款项，导致重新拍卖，造成的差价及费用损失也应由他来承担。不过根据目前的情况，因拍卖取消，最后出价的人不用被追究责任。\n雷达财经注意到，此前曾有人为恶意出价并悔拍的行为遭处罚。此外，阿里拍卖也曾提示过悔拍风险。\n值得一提的是，此次拍卖背后，还隐藏着一个贪腐大案。2020年11月，滁州某公司员工张雨杰因涉嫌贪污罪被判处无期徒刑，没收个人全部财产。值得一提的是，他用贪污得来的6993.25万元资金所购买的“奢侈品”，除了“青眼白龙”游戏王纯金卡牌，还包括劳力士手表、82年拉菲……\n游戏王卡牌80元起拍，拍出8700万天价\n此次拍卖的游戏王“青眼白龙”属于限量卡牌，用料为约11g的24K金，是集换式卡牌中的王者级藏品。\n游戏王是2000年后在日本播出的一部以卡牌怪兽决斗和七件千年神器为主线的动漫，而其卡片游戏则是由KONAMI研发，吉尼斯世界纪录认证的全世界销量最高的集换式卡牌游戏。目前，该系列卡牌累计发售已突破251亿7000万张。\n据媒体报道，该卡牌所属系列限量发售500套，每一张都有独特的印有“No.1-500”的收藏编号和证书，官方定价为20万日元（约合1.2万元人民币），市场价在20-30万元左右。\n雷达财经注意到，这个价格在游戏王的卡牌历史中本不算出众。此前有日本网友晒出一张售价高达4500万日元的“青眼究极龙”，据说是2001年亚洲锦标赛的冠军奖品，全世界仅此一张；还有人将2000年某次官方大赛的奖品卡“混沌战士”上架至网络商城，标价9.998亿日元，放在现在约合超5800万元人民币。\n\n但是在拍出8700万元的天价后，这张“青眼白龙”无疑已经打破此前的纪录，成为了全世界拍卖价格最高的游戏王卡牌。\n从阿里拍卖的数据来看，此次拍卖共有18104人报名，76716人设置提醒，超过230万次围观。之所以起拍价仅为80元，根据一位参与拍卖的up主所述，是因为原持有人委托友人从日本购入后，过海关时为了避税把包装盒及证书都扔了。\n6月21日16时，该卡牌正式开始拍卖，截至16时32分34秒，已有2105人出价拍卖，在拍卖被叫停前，最后一名出价的网友竞买号为Y8745，出价8732.6098万元。\n有网友统计发现，Y8745共出价3次，进场时间在开始拍卖25分钟后，出价金额分别是52156075、54106076和最后的87326098。而竞拍次数排名前三位的竞拍者则拍了47、33和25次。\n史上最贵游戏王卡牌后又现史上最贵U盘\n值得一提的是，6月22日，“青眼白龙”原持有人名下的另一项财产——一个SanDisk U盘也因“拍品价值与实际竞拍价格严重不符，可能存在恶意抬价的行为”被中止拍卖。\n安徽省滁州市中级人民法院在关于被执行人U盘1个的公告中称，该U盘起拍价为40元，评估价为50元，使用年限不明，长久未使用，无任何配件及说明书，能否正常使用不详。\n但6月21日结束时，该U盘的竞买价格已升至1512元。而截至6月22日15时21分45秒，即拍卖中止前，该U盘的拍卖价格更是高达39810元，共有1186次竞买，总计吸引了超29万次围观。\n\n“这应该是史上最贵U盘了吧？”有网友感叹。根据展示出的图片，该U盘内存仅4GB，雷达财经搜索发现，目前电商平台闪迪旗舰店中，最贵的U盘售价为1499元，内存1TB，是拍卖U盘的超250倍。但也有传言称，该U盘遭疯抢的原因系其中存着比特币的秘钥。\n“同一案件的系列拍品，已经连续两次出现恶意抬价行为，对其他拍品终止拍卖。”根据平台公告，受近两日天价游戏王卡牌和U盘的影响，已中止对该持有人其他拍品的拍卖活动。\n\n律师：恶意竞拍需承担严重后果\n“保证金不高，网民们就觉得好玩，对于司法拍卖的严肃性并不了解。”律师闫创称。\n根据《中华人民共和国民事诉讼法》第一百一十一条及《最高人民法院关于适用〈中华人民共和国民事诉讼法〉的解释》第一百八十七条之规定，对于在司法网拍中恶意抬价，扰乱司法拍卖秩序的买受人，人民法院可以对其罚款、拘留，构成犯罪的，依法追究刑事责任。\n闫创解释称，恶意竞拍，就是参与司法拍卖的人员，没有真实购买意愿，登记虚假个人信息、或者与被执行人串通或明知自己无支付能力，仍与他人竞价、恶意抬价，阻止他人正常竞买，导致流拍等各种妨碍、干扰法院执行和司法拍卖活动的行为。\n除此之外，相关法律还规定，司法网拍成交后，买受人即使悔拍，其所交纳的保证金也不予退还。如果买受人逾期未支付价款，人民法院可以裁定重新拍卖。重新拍卖的价款若低于原拍卖价款，所造成的差价、费用损失等，亦由原买受人承担。\n“最后一个成交的，就是最高价成交，如果其逾期不支付款项，导致重新拍卖的话，其要承担所造成的差价及费用损失。”闫创指出。\n不过闫创也坦言，目前拍卖已被取消，最后一个出价的竞买人也就无需承担相应责任。“民众还是需要提高法律意识。”\n雷达财经注意到，阿里拍卖的提示中，此前有竞拍人毁约，被司法拘留15日，并罚款10万元。\n\n\n缘起五年前贪污大案\n此次拍卖的最贵游戏王卡牌、最贵U盘背后，隐藏着一个贪腐大案。\n安徽省滁州市人民检察院公示的起诉书显示，“青眼白龙”游戏王纯金卡牌的原持有者张雨杰出生于1995年，在2016年至2019年4月期间，借自己在滁州市某公司存量房资金托管岗位工作的契机，采取收取托管资金不入账直接侵吞、伪造收款事实等方式，多次贪污存量房托管资金计6993.25万元。\n具体而言，张雨杰先后侵吞了399户买房人缴纳的托管资金，还曾以时任女友周某某的名义购买了位于滁州市的两套房产，在未缴纳购房款的情况下，开具虚假的滁州市存量房交易资金托管凭证，根据虚假托管凭证侵吞托管资金260万元、390万元。\n根据阿里拍卖竞买公告，张雨杰用“赃款”购买的财产包括海南黄花梨木质手串、劳力士、GUCCI、OMEGA共计8块手表、3支DIOR眼镜、拉菲酒庄干红葡萄酒1982等10瓶极具收藏价值的红葡萄酒、纪念钞等，但最能突出其个性的还是一干电子产品。包括BRIKK镀金镶钻游戏手柄、五亿限定版PS4 Pro主机、《战神4》限定版PS4 Pro主机，3台Switch主机、4台外星人电脑、大量索尼、beats的耳机和苹果的4台平板电脑、2台笔记本电脑、11部手机……\n\n公开信息显示，镀金镶钻PS4手柄豪华版售价约14000美元，五亿限定版PS4 Pro主机售价3799元，《战神4》限定版PS4 Pro主机售价约400美元。\n2020年3月，张雨杰因涉嫌贪污罪被天长市监察委员会留置，两个月后，其被天长市公安局执行逮捕。同年11月，张雨杰被判处无期徒刑，没收个人全部财产。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":5101,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120947159,"gmtCreate":1624293967771,"gmtModify":1703832824946,"author":{"id":"3576405243338366","authorId":"3576405243338366","name":"rocat","avatar":"https://static.tigerbbs.com/e537c7a4cf09b6014ec1c1754eac4da9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576405243338366","idStr":"3576405243338366"},"themes":[],"title":"","htmlText":"Wah","listText":"Wah","text":"Wah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/120947159","repostId":"1196526895","repostType":4,"repost":{"id":"1196526895","kind":"news","weMediaInfo":{"introduction":"有视角的商业资讯交流平台","home_visible":1,"media_name":"虎嗅APP","id":"101","head_image":"https://static.tigerbbs.com/98669fe7974e42f3976b3db47528792d"},"pubTimestamp":1624286593,"share":"https://ttm.financial/m/news/1196526895?lang=en_US&edition=fundamental","pubTime":"2021-06-21 22:43","market":"hk","language":"zh","title":"Domestic \"Internet Celebrity\" Electric Vehicles: The Secret Behind Their Cheapness","url":"https://stock-news.laohu8.com/highlight/detail?id=1196526895","media":"虎嗅APP","summary":"国产廉价电动车，重出江湖。","content":"<p>Author/Wang Xiaoyu</p><p>Domestically produced inexpensive electric vehicles are making a comeback.</p><p>On June 8, the China Passenger Car Association (CPCA) released domestic automobile sales data for May. Unexpectedly, surrounded by negative news<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>China did not experience a sharp drop in sales, with 33,463 new cars sold in May, a 29% increase from 25,845 in April. As expected, the \"Wuling miracle car\" Hongguang MINI EV continued to top the list with 29,706 units sold.</p><p>Although this list lists 15 new energy vehicles, the focus of public opinion is undoubtedly on the second and third place models, these two \"popular cars\" from Tesla.</p><p><img src=\"https://static.tigerbbs.com/a821fb9d394d8f9f5386fd832ac7bb2a\" tg-width=\"550\" tg-height=\"837\" referrerpolicy=\"no-referrer\"></p><p>If we take a closer look at this list... I believe no Chinese automaker can laugh.</p><p>Among the top 15 models in May's sales charts, eight were priced below 100,000 yuan (inclusive). In other words, the vast majority of the best-selling domestic new energy vehicles are low-end models.</p><p><b>I. Cheap electric vehicles are making a comeback</b></p><p>\"It looks the same as the old model, but the configuration is lower than the old model, and the airbags have been removed.\"</p><p>Recently, after visiting several 4S stores in the Laiguangying area of Chaoyang District, Beijing, Huxiu discovered that the Changan Benben EV, which ranks fourth on the new energy vehicle sales list, is actually a cheap electric vehicle with \"reduced features\".</p><p>According to this<a href=\"https://laohu8.com/S/000625\">Changan Automobile</a>The salesperson at the 4S store explained that the model they currently sell is the Benben E-star National Edition, which is a \"sibling\" of the older Changan Benben EV.</p><p><img src=\"https://static.tigerbbs.com/0504107bbcf8796f95f6fe2e3a95ba84\" tg-width=\"550\" tg-height=\"412\" referrerpolicy=\"no-referrer\"></p><p>Although the two models have no difference in appearance, as a model launched on January 15 this year, the price of the Changan Benben E-Star National Edition has been lowered to 29,800 yuan, which is 20,000 yuan lower than the starting price of 49,800 yuan for the base version of the old Benben EV.</p><p>The new model has been reduced in price by 20,000 yuan. Is this a way for the manufacturer to give back to consumers? The salesperson at a Changan Automobile 4S store told Huxiu that the 29,800 yuan and 39,800 yuan national versions have removed airbags. In comparison, the older Benben EV version, starting at 49,800 yuan, comes standard with driver and passenger airbags.</p><p>It's already 2021, and airbags aren't standard equipment? There are more than one suspected feature reductions in this Changan car. According to HM\"><a href=\"https://laohu8.com/S/ATHM\">Autohome</a>The provided model specifications reveal that the National Edition has also removed parking radar and brake assist, even the wheels have been replaced from aluminum alloy to steel, and the air conditioning only has warm air.</p><p><img src=\"https://static.tigerbbs.com/764bebc0e19571bb4c3d9edd00517db5\" tg-width=\"550\" tg-height=\"501\" referrerpolicy=\"no-referrer\">Screenshot from Autohome</p><p>In terms of batteries, both low-end versions of the new model use lithium iron phosphate batteries. It is cheaper than the older ternary lithium battery, but the range has been reduced from 210km to 150km. \"If you want fast charging, you need to add an optional 999 yuan,\" the salesperson told Huxiu.</p><p>Even with the reduced features, the extremely low price attracted countless consumers to buy it. A salesperson present said that most of the configurations currently do not have cars, and it will take at least a month for them to be available. \"You can place your order now, that's the price anyway,\" the salesperson said casually before leaving.</p><p><img src=\"https://static.tigerbbs.com/0987d939878f26811eb9f12d9a3ccebe\" tg-width=\"550\" tg-height=\"317\" referrerpolicy=\"no-referrer\"></p><p>Benben isn't the only cheap electric vehicle that has no shortage of sales.</p><p>The Chery eQ, which ranked seventh on the sales list, was actually sold at Chery New Energy dealerships as the \"Chery Little Ant\"—a micro pure electric vehicle launched in 2016.</p><p>After five years of market testing, this car is still able to sell on the sales charts, not because of feature reductions, but because of discounts. For example, the mid-range version, priced at 69,800 yuan, offers cash discounts of up to 10,000 yuan, and the purchase price is less than 60,000 yuan.</p><p><img src=\"https://static.tigerbbs.com/581c7a8e469c3802e4d5d670f300357e\" tg-width=\"550\" tg-height=\"412\" referrerpolicy=\"no-referrer\">Chery Little Ant (Photo: Huxiu)</p><p>A salesperson at Chery New Energy 4S store also said, \"There are still vehicles in stock, but that may not be the case next month. Beijing will release a batch of new energy vehicle quotas on the 26th of this month, and July will be the peak season.\"</p><p>Many distributors have offered cash subsidies of tens of thousands of yuan.<a href=\"https://laohu8.com/S/601633\">Great Wall Motors</a>Among the various models currently on sale under its ORA brand, the best-selling is the ORA Black Cat, with the lowest-end version priced at 69,800 yuan. The 4S store offered a cash discount of 10,500 yuan, and the purchase price was less than 60,000 yuan, the same as the Chery Ant. If you specify a configuration and there are no vehicles in stock, you will need to wait at least one month.</p><p>Low prices combined with cash discounts have become the secret to the sales of new energy vehicles for traditional automakers.</p><p><b>II. The Secret Behind Cheapness</b></p><p>In the early days of the new energy vehicle sector, subsidies were used to sell at low prices.</p><p>For example, the 2017 Chery eQ electric vehicle has a guide price range of 169,900-171,900 yuan. After enjoying national subsidies, local subsidies and manufacturer subsidies, the price is 69,800-71,800 yuan. Based on Beijing's new energy vehicle subsidy policy in 2017, this car could receive a national and local subsidy of 56,000 yuan.</p><p>There are quite a few car companies that take exams in order to obtain subsidies. The most direct evidence is range. Since 2017, the new energy subsidy policy has raised the threshold for range, leading automakers to continuously launch long-range models to meet the policy threshold. Taking the 2018 subsidy policy as an example, compared with the 2017 policy, the subsidy amount for vehicles with a range of less than 300km was reduced, while the subsidy amount for vehicles with a range of more than 300km was increased accordingly.</p><p>This year's subsidy policy is even more interesting. According to the subsidy policy notice released on December 31, 2020, subsidies will be cancelled for all pure electric passenger vehicles with a range of less than 300 kilometers. Faced with domestic automakers, there are only two options: one is to increase the range to 300 kilometers and receive subsidies; Second, without subsidies, they insist on selling micro electric vehicles with low range.</p><p><img src=\"https://static.tigerbbs.com/dc6e77909845462fa45e894feee01125\" tg-width=\"550\" tg-height=\"412\" referrerpolicy=\"no-referrer\">ORA Black Cat (Photo by Huxiu)</p><p>The first type of product will directly consider a 300km range as the product's passing grade. For example, the basic version of the ORA Black Cat has a range of 301km, the Benben E-star has a range of 301km, and the Chery Ant also has a range of 301km. In this way, while maximizing the subsidy amount, the increase in battery costs caused by excessive increases in range is avoided, ultimately minimizing product pricing.</p><p>The Wuling Hongguang MINI EV falls into the second category, requiring no subsidies and only the lowest price. The Hongguang MINI EV, starting at 28,800 yuan, has a range of only 120km. Even the high-end model priced at 43,600 yuan has a range of only 170km, which is far from the 300km subsidy threshold. As it turns out, it can sell well without government subsidies. Since its launch last July, the Hongguang MINI EV has maintained its position in the middle for nine consecutive months.<a href=\"https://laohu8.com/S/600617\">Guoxin Energy</a>Market top seller.</p><p>The rise of the Hongguang MINI EV has prompted more automakers to explore subsidy-free \"uncharted territory\". For example, the former GAC<a href=\"https://laohu8.com/S/NIO\">Nio</a>According to an insider, Free Auto, founded by founder Liao Bing, is currently preparing to enter the micro pure electric vehicle market priced below 100,000 yuan, competing with best-selling models such as the Hongguang MINI EV and Changan Benben EV. In addition, Volkswagen's Sihao E10X, with a starting price of 39,900 to 75,900 yuan, offers three NEDC range versions: 150km, 200km, and 302km.</p><p>Seeing this, many people may wonder why gasoline-powered cars have never been sold so cheaply before, so why are pure electric vehicles so cheap that they are competing with \"elderly mobility scooters\" for market share? There's a secret behind the low price: a dual-points system.</p><p>In May of this year, the Ministry of Industry and Information Technology released the \"Annual Report on the Implementation of Parallel Management of Average Fuel Consumption and New Energy Vehicle Credits of Passenger Vehicle Enterprises (2021)\". The report shows that in 2020, among 138 passenger vehicle companies in China, there were 6.66 million negative fuel consumption credits and 3.28 million positive new energy vehicle credits. This means that there is still a gap of 3.38 million points in the dual-credit system.</p><p>Let me briefly explain the \"dual-credit system\": producing new energy vehicles accumulates positive points, while producing fuel vehicles accumulates negative points. There is a clear standard for the number of points accumulated for each type of vehicle, which is limited to one year. The credits of automakers = negative credits for average fuel consumption + positive credits for new energy vehicles. Negative points can be traded, offset, transferred, etc. with positive points.</p><p>According to regulations, if automakers fail to meet the credit requirements for new energy vehicles, they will be subject to penalties such as suspending the application for high-fuel-consumption products and suspending the production of high-fuel-consumption products. However, for automakers with a large number of negative average fuel consumption credits, they can use several methods to offset the negative credits: positive average fuel consumption credits carried over by the company, positive average fuel consumption credits acquired by the company, positive new energy vehicle credits generated by the company, and positive new energy vehicle credits purchased.</p><p><img src=\"https://static.tigerbbs.com/5e0b4ddf19202ec2e49e3241cc8c5422\" tg-width=\"550\" tg-height=\"265\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/d0c4f49d586e24e4fca7c35064d8a579\" tg-width=\"550\" tg-height=\"263\" referrerpolicy=\"no-referrer\"></p><p>Simply put, for companies that mainly produce gasoline-powered vehicles, they either have to spend money to buy credits or sell more new energy vehicles to earn credits.</p><p>Not long ago, foreign media reported that FAW-Volkswagen, Volkswagen's joint venture in China, will purchase new energy vehicle credits from Tesla at a price of approximately 3,000 yuan per credit, far higher than the price in previous years.</p><p><a href=\"https://laohu8.com/S/601377\">Industrial Securities</a>The released research report shows that the current transaction price of new energy credits has increased from the initial 300-500 yuan/min to 2,500-3,000 yuan/min, an increase of 9 times. In an interview, Li Jinyong, executive chairman of the All-China Federation of Industry and Commerce Automobile Dealers Chamber of Commerce and chairman of the New Energy Vehicle Committee, said that this year's new energy vehicle credits will continue the situation of supply falling short of demand last year, and the credit price may reach 6,000-10,000 yuan per credit.</p><p>Another approach is to sell more new energy vehicles. For example, SAIC-GM-Wuling earned 440,000 positive new energy vehicle credits in 2020, providing a certain guarantee for SAIC-GM to solve its 920,000 negative credits.</p><p>With<a href=\"https://laohu8.com/S/02333\">Great Wall Motors</a>Taking the ORA Black Cat under its ORA brand as an example, in 2021, an ORA Black Cat could earn 2.08 new energy positive credits, each worth 6,000 yuan. The battery cost could be reduced by 100 yuan/kWh, and the cost of lithium iron phosphate could be reduced even more. Although the subsidies were reduced, the total cost could still be reduced by 12,400 yuan. In other words, the reduction in battery costs is sufficient to offset the adverse impact of reduced subsidies on companies' car manufacturing costs.</p><p>An ORA salesperson told Huxiu that, with the help of ORA brand sales, Great Wall Motors completed its dual-credit target last year, which means that Great Wall Motors does not need to spend extra money to purchase new energy vehicle positive credits.</p><p><img src=\"https://static.tigerbbs.com/f96da395f189240abfe1bafe3ebad45e\" tg-width=\"550\" tg-height=\"200\" referrerpolicy=\"no-referrer\">Image source: Electric Vehicle Observer</p><p>For example, Changan Automobile's average fuel consumption score in 2020 was close to 620,000 negative points, while its new energy vehicle score was less than 30,000 positive points, and it still needed to offset 600,000 points. Similarly, if you buy points, each point costs 3,000 yuan, which would cost 1.8 billion yuan. If the Benben EV is produced, and each vehicle's new energy positive credit is counted as 2 points, then 300,000 units would need to be produced. An insider revealed that even if you lose money selling the car at a low price, it is still more cost-effective than buying points, which is the main reason why Changan is pushing the ultra-low price Benben E-Star.</p><p><b>At the end</b></p><p>An even more interesting phenomenon is happening.</p><p>On June 17 this year, the Ministry of Industry and Information Technology solicited opinions on the recommended national standard \"Technical Conditions for Pure Electric Passenger Vehicles\". The standard has added technical requirements for micro, low-speed pure electric passenger vehicles, which means that \"elderly mobility vehicles\" are expected to be included in formal management from a regulatory gray area.</p><p>\"I believe that including low-speed electric vehicles in standardized management actually gives standardized companies a channel to rise, while eliminating non-standardized companies. However, this has led to an awkward situation for microcar companies to some extent.\"</p><p>In an interview, Cui Dongshu, Secretary-General of the Automobile Market Research Branch of the China Automobile Dealers Association, said that microcar companies have to choose between high costs and survival. If they go up, the costs will be high, and if they go down, they will have no way to survive.</p><p>Next, you are likely to see a market situation like this: micro pure electric vehicles produced by domestic automakers are starting to compete with \"old man jokes\" for market share.</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>Domestic \"Internet Celebrity\" Electric Vehicles: The Secret Behind Their Cheapness</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\">\nDomestic \"Internet Celebrity\" Electric Vehicles: The Secret Behind Their Cheapness\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/101\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/98669fe7974e42f3976b3db47528792d);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">虎嗅APP </p>\n<p class=\"h-time smaller\">2021-06-21 22:43</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Author/Wang Xiaoyu</p><p>Domestically produced inexpensive electric vehicles are making a comeback.</p><p>On June 8, the China Passenger Car Association (CPCA) released domestic automobile sales data for May. Unexpectedly, surrounded by negative news<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>China did not experience a sharp drop in sales, with 33,463 new cars sold in May, a 29% increase from 25,845 in April. As expected, the \"Wuling miracle car\" Hongguang MINI EV continued to top the list with 29,706 units sold.</p><p>Although this list lists 15 new energy vehicles, the focus of public opinion is undoubtedly on the second and third place models, these two \"popular cars\" from Tesla.</p><p><img src=\"https://static.tigerbbs.com/a821fb9d394d8f9f5386fd832ac7bb2a\" tg-width=\"550\" tg-height=\"837\" referrerpolicy=\"no-referrer\"></p><p>If we take a closer look at this list... I believe no Chinese automaker can laugh.</p><p>Among the top 15 models in May's sales charts, eight were priced below 100,000 yuan (inclusive). In other words, the vast majority of the best-selling domestic new energy vehicles are low-end models.</p><p><b>I. Cheap electric vehicles are making a comeback</b></p><p>\"It looks the same as the old model, but the configuration is lower than the old model, and the airbags have been removed.\"</p><p>Recently, after visiting several 4S stores in the Laiguangying area of Chaoyang District, Beijing, Huxiu discovered that the Changan Benben EV, which ranks fourth on the new energy vehicle sales list, is actually a cheap electric vehicle with \"reduced features\".</p><p>According to this<a href=\"https://laohu8.com/S/000625\">Changan Automobile</a>The salesperson at the 4S store explained that the model they currently sell is the Benben E-star National Edition, which is a \"sibling\" of the older Changan Benben EV.</p><p><img src=\"https://static.tigerbbs.com/0504107bbcf8796f95f6fe2e3a95ba84\" tg-width=\"550\" tg-height=\"412\" referrerpolicy=\"no-referrer\"></p><p>Although the two models have no difference in appearance, as a model launched on January 15 this year, the price of the Changan Benben E-Star National Edition has been lowered to 29,800 yuan, which is 20,000 yuan lower than the starting price of 49,800 yuan for the base version of the old Benben EV.</p><p>The new model has been reduced in price by 20,000 yuan. Is this a way for the manufacturer to give back to consumers? The salesperson at a Changan Automobile 4S store told Huxiu that the 29,800 yuan and 39,800 yuan national versions have removed airbags. In comparison, the older Benben EV version, starting at 49,800 yuan, comes standard with driver and passenger airbags.</p><p>It's already 2021, and airbags aren't standard equipment? There are more than one suspected feature reductions in this Changan car. According to HM\"><a href=\"https://laohu8.com/S/ATHM\">Autohome</a>The provided model specifications reveal that the National Edition has also removed parking radar and brake assist, even the wheels have been replaced from aluminum alloy to steel, and the air conditioning only has warm air.</p><p><img src=\"https://static.tigerbbs.com/764bebc0e19571bb4c3d9edd00517db5\" tg-width=\"550\" tg-height=\"501\" referrerpolicy=\"no-referrer\">Screenshot from Autohome</p><p>In terms of batteries, both low-end versions of the new model use lithium iron phosphate batteries. It is cheaper than the older ternary lithium battery, but the range has been reduced from 210km to 150km. \"If you want fast charging, you need to add an optional 999 yuan,\" the salesperson told Huxiu.</p><p>Even with the reduced features, the extremely low price attracted countless consumers to buy it. A salesperson present said that most of the configurations currently do not have cars, and it will take at least a month for them to be available. \"You can place your order now, that's the price anyway,\" the salesperson said casually before leaving.</p><p><img src=\"https://static.tigerbbs.com/0987d939878f26811eb9f12d9a3ccebe\" tg-width=\"550\" tg-height=\"317\" referrerpolicy=\"no-referrer\"></p><p>Benben isn't the only cheap electric vehicle that has no shortage of sales.</p><p>The Chery eQ, which ranked seventh on the sales list, was actually sold at Chery New Energy dealerships as the \"Chery Little Ant\"—a micro pure electric vehicle launched in 2016.</p><p>After five years of market testing, this car is still able to sell on the sales charts, not because of feature reductions, but because of discounts. For example, the mid-range version, priced at 69,800 yuan, offers cash discounts of up to 10,000 yuan, and the purchase price is less than 60,000 yuan.</p><p><img src=\"https://static.tigerbbs.com/581c7a8e469c3802e4d5d670f300357e\" tg-width=\"550\" tg-height=\"412\" referrerpolicy=\"no-referrer\">Chery Little Ant (Photo: Huxiu)</p><p>A salesperson at Chery New Energy 4S store also said, \"There are still vehicles in stock, but that may not be the case next month. Beijing will release a batch of new energy vehicle quotas on the 26th of this month, and July will be the peak season.\"</p><p>Many distributors have offered cash subsidies of tens of thousands of yuan.<a href=\"https://laohu8.com/S/601633\">Great Wall Motors</a>Among the various models currently on sale under its ORA brand, the best-selling is the ORA Black Cat, with the lowest-end version priced at 69,800 yuan. The 4S store offered a cash discount of 10,500 yuan, and the purchase price was less than 60,000 yuan, the same as the Chery Ant. If you specify a configuration and there are no vehicles in stock, you will need to wait at least one month.</p><p>Low prices combined with cash discounts have become the secret to the sales of new energy vehicles for traditional automakers.</p><p><b>II. The Secret Behind Cheapness</b></p><p>In the early days of the new energy vehicle sector, subsidies were used to sell at low prices.</p><p>For example, the 2017 Chery eQ electric vehicle has a guide price range of 169,900-171,900 yuan. After enjoying national subsidies, local subsidies and manufacturer subsidies, the price is 69,800-71,800 yuan. Based on Beijing's new energy vehicle subsidy policy in 2017, this car could receive a national and local subsidy of 56,000 yuan.</p><p>There are quite a few car companies that take exams in order to obtain subsidies. The most direct evidence is range. Since 2017, the new energy subsidy policy has raised the threshold for range, leading automakers to continuously launch long-range models to meet the policy threshold. Taking the 2018 subsidy policy as an example, compared with the 2017 policy, the subsidy amount for vehicles with a range of less than 300km was reduced, while the subsidy amount for vehicles with a range of more than 300km was increased accordingly.</p><p>This year's subsidy policy is even more interesting. According to the subsidy policy notice released on December 31, 2020, subsidies will be cancelled for all pure electric passenger vehicles with a range of less than 300 kilometers. Faced with domestic automakers, there are only two options: one is to increase the range to 300 kilometers and receive subsidies; Second, without subsidies, they insist on selling micro electric vehicles with low range.</p><p><img src=\"https://static.tigerbbs.com/dc6e77909845462fa45e894feee01125\" tg-width=\"550\" tg-height=\"412\" referrerpolicy=\"no-referrer\">ORA Black Cat (Photo by Huxiu)</p><p>The first type of product will directly consider a 300km range as the product's passing grade. For example, the basic version of the ORA Black Cat has a range of 301km, the Benben E-star has a range of 301km, and the Chery Ant also has a range of 301km. In this way, while maximizing the subsidy amount, the increase in battery costs caused by excessive increases in range is avoided, ultimately minimizing product pricing.</p><p>The Wuling Hongguang MINI EV falls into the second category, requiring no subsidies and only the lowest price. The Hongguang MINI EV, starting at 28,800 yuan, has a range of only 120km. Even the high-end model priced at 43,600 yuan has a range of only 170km, which is far from the 300km subsidy threshold. As it turns out, it can sell well without government subsidies. Since its launch last July, the Hongguang MINI EV has maintained its position in the middle for nine consecutive months.<a href=\"https://laohu8.com/S/600617\">Guoxin Energy</a>Market top seller.</p><p>The rise of the Hongguang MINI EV has prompted more automakers to explore subsidy-free \"uncharted territory\". For example, the former GAC<a href=\"https://laohu8.com/S/NIO\">Nio</a>According to an insider, Free Auto, founded by founder Liao Bing, is currently preparing to enter the micro pure electric vehicle market priced below 100,000 yuan, competing with best-selling models such as the Hongguang MINI EV and Changan Benben EV. In addition, Volkswagen's Sihao E10X, with a starting price of 39,900 to 75,900 yuan, offers three NEDC range versions: 150km, 200km, and 302km.</p><p>Seeing this, many people may wonder why gasoline-powered cars have never been sold so cheaply before, so why are pure electric vehicles so cheap that they are competing with \"elderly mobility scooters\" for market share? There's a secret behind the low price: a dual-points system.</p><p>In May of this year, the Ministry of Industry and Information Technology released the \"Annual Report on the Implementation of Parallel Management of Average Fuel Consumption and New Energy Vehicle Credits of Passenger Vehicle Enterprises (2021)\". The report shows that in 2020, among 138 passenger vehicle companies in China, there were 6.66 million negative fuel consumption credits and 3.28 million positive new energy vehicle credits. This means that there is still a gap of 3.38 million points in the dual-credit system.</p><p>Let me briefly explain the \"dual-credit system\": producing new energy vehicles accumulates positive points, while producing fuel vehicles accumulates negative points. There is a clear standard for the number of points accumulated for each type of vehicle, which is limited to one year. The credits of automakers = negative credits for average fuel consumption + positive credits for new energy vehicles. Negative points can be traded, offset, transferred, etc. with positive points.</p><p>According to regulations, if automakers fail to meet the credit requirements for new energy vehicles, they will be subject to penalties such as suspending the application for high-fuel-consumption products and suspending the production of high-fuel-consumption products. However, for automakers with a large number of negative average fuel consumption credits, they can use several methods to offset the negative credits: positive average fuel consumption credits carried over by the company, positive average fuel consumption credits acquired by the company, positive new energy vehicle credits generated by the company, and positive new energy vehicle credits purchased.</p><p><img src=\"https://static.tigerbbs.com/5e0b4ddf19202ec2e49e3241cc8c5422\" tg-width=\"550\" tg-height=\"265\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/d0c4f49d586e24e4fca7c35064d8a579\" tg-width=\"550\" tg-height=\"263\" referrerpolicy=\"no-referrer\"></p><p>Simply put, for companies that mainly produce gasoline-powered vehicles, they either have to spend money to buy credits or sell more new energy vehicles to earn credits.</p><p>Not long ago, foreign media reported that FAW-Volkswagen, Volkswagen's joint venture in China, will purchase new energy vehicle credits from Tesla at a price of approximately 3,000 yuan per credit, far higher than the price in previous years.</p><p><a href=\"https://laohu8.com/S/601377\">Industrial Securities</a>The released research report shows that the current transaction price of new energy credits has increased from the initial 300-500 yuan/min to 2,500-3,000 yuan/min, an increase of 9 times. In an interview, Li Jinyong, executive chairman of the All-China Federation of Industry and Commerce Automobile Dealers Chamber of Commerce and chairman of the New Energy Vehicle Committee, said that this year's new energy vehicle credits will continue the situation of supply falling short of demand last year, and the credit price may reach 6,000-10,000 yuan per credit.</p><p>Another approach is to sell more new energy vehicles. For example, SAIC-GM-Wuling earned 440,000 positive new energy vehicle credits in 2020, providing a certain guarantee for SAIC-GM to solve its 920,000 negative credits.</p><p>With<a href=\"https://laohu8.com/S/02333\">Great Wall Motors</a>Taking the ORA Black Cat under its ORA brand as an example, in 2021, an ORA Black Cat could earn 2.08 new energy positive credits, each worth 6,000 yuan. The battery cost could be reduced by 100 yuan/kWh, and the cost of lithium iron phosphate could be reduced even more. Although the subsidies were reduced, the total cost could still be reduced by 12,400 yuan. In other words, the reduction in battery costs is sufficient to offset the adverse impact of reduced subsidies on companies' car manufacturing costs.</p><p>An ORA salesperson told Huxiu that, with the help of ORA brand sales, Great Wall Motors completed its dual-credit target last year, which means that Great Wall Motors does not need to spend extra money to purchase new energy vehicle positive credits.</p><p><img src=\"https://static.tigerbbs.com/f96da395f189240abfe1bafe3ebad45e\" tg-width=\"550\" tg-height=\"200\" referrerpolicy=\"no-referrer\">Image source: Electric Vehicle Observer</p><p>For example, Changan Automobile's average fuel consumption score in 2020 was close to 620,000 negative points, while its new energy vehicle score was less than 30,000 positive points, and it still needed to offset 600,000 points. Similarly, if you buy points, each point costs 3,000 yuan, which would cost 1.8 billion yuan. If the Benben EV is produced, and each vehicle's new energy positive credit is counted as 2 points, then 300,000 units would need to be produced. An insider revealed that even if you lose money selling the car at a low price, it is still more cost-effective than buying points, which is the main reason why Changan is pushing the ultra-low price Benben E-Star.</p><p><b>At the end</b></p><p>An even more interesting phenomenon is happening.</p><p>On June 17 this year, the Ministry of Industry and Information Technology solicited opinions on the recommended national standard \"Technical Conditions for Pure Electric Passenger Vehicles\". The standard has added technical requirements for micro, low-speed pure electric passenger vehicles, which means that \"elderly mobility vehicles\" are expected to be included in formal management from a regulatory gray area.</p><p>\"I believe that including low-speed electric vehicles in standardized management actually gives standardized companies a channel to rise, while eliminating non-standardized companies. However, this has led to an awkward situation for microcar companies to some extent.\"</p><p>In an interview, Cui Dongshu, Secretary-General of the Automobile Market Research Branch of the China Automobile Dealers Association, said that microcar companies have to choose between high costs and survival. If they go up, the costs will be high, and if they go down, they will have no way to survive.</p><p>Next, you are likely to see a market situation like this: micro pure electric vehicles produced by domestic automakers are starting to compete with \"old man jokes\" for market share.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b0973327334b37476e8dc23769e2729e","relate_stocks":{"000625":"长安汽车","00305":"五菱汽车"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1196526895","content_text":"作者／王笑渔\n国产廉价电动车，重出江湖。\n6月8日，乘联会公布了5月国内汽车销量数据。意料之外的是，被负面新闻缠绕的特斯拉中国，并没有出现销量大跌的情况，5月仍售出了33,463辆新车，较4月份的25,845辆增长了29％。而意料之中的是，“五菱神车”宏光MINI EV以29,706辆的成绩，继续占据榜首。\n这份榜单，虽然洋洋洒洒列出15款新能源汽车，但是舆论的焦点无疑都汇聚在了第二、第三名，这两款来自特斯拉的“网红车”上。\n\n如果仔细再研究一下这个榜单。相信没有哪一家中国车企能笑得起来。\n5月销量榜的TOP15的车型中，有8款车售价在10万元（含10万元）以下，也就是说——卖得好的国产新能源汽车，绝大多数都是低端车型。\n一、廉价电动车重出江湖\n“跟老款长得一样，配置比老款更低，取消了安全气囊。”\n近日，虎嗅在探访位于北京朝阳区来广营地区的几家4S店后发现，新能源汽车销量榜上位列第四名的长安奔奔EV，实则是一款“减配”而来的廉价电动汽车。\n据这家长安汽车4S店的销售介绍，他们这里目前出售的车型为奔奔E-star国民版，是老款长安奔奔EV的“同门兄弟”。\n\n两者虽然外观并无差别，但作为今年1月15日上市的车型，长安奔奔E-Star国民版的价格被拉低到了2.98万元起，比老款奔奔EV最低配版本4.98万元的起售价，还要低了2万元。\n新款降价2万卖，难道是厂家用心回馈消费者吗？这位长安汽车4S店销售告诉虎嗅，2.98万元和3.98万元的国民版取消了安全气囊。作为对比，老款奔奔EV最低售价为4.98万元的版本都标配了主/副驾驶安全气囊。\n都2021年了，安全气囊竟然不是标配？疑似减配的地方，在长安这款车上不止一处。根据HM\">汽车之家提供的车型参数可以发现，国民版还取消了驻车雷达、刹车辅助， 就连轮圈也从原来的铝合金换成了钢材，空调也只有暖风。\n截图自汽车之家\n在电池方面，新款的两个低配版本，都采用了磷酸铁锂电池。比老款的三元锂电池成本更低，但续航从原来的210km降低至150km。“想要快充的话，需要加999元可以选配”，这位销售告诉虎嗅。\n即便是减配，但超低的售价也吸引了无数消费者买单。一位在场销售表示，目前大部分配置都没有车，需要等起码1个月的时间才有车。“现在都可以定了，反正价格就这样”，临走前这位销售漫不经心的说道。\n\n不愁卖的廉价电动车不止奔奔。\n销量榜上的第七名奇瑞eQ，在奇瑞新能源销售门店售出的实则为“奇瑞小蚂蚁”——一款2016年问世的微型纯电动汽车。\n经历五年的市场洗礼，这款车依旧能卖上销量榜，靠的不是减配，而是优惠。比如6.98万元的中配版，现金优惠高达1万元，购车价不到6万元。\n奇瑞小蚂蚁（拍摄：虎嗅）\n奇瑞新能源4S店的销售还表示，“现在还有现车，但下个月就不一定了，本月26号北京将释放一批新能源指标，7月会迎来旺季。”\n拿出上万元现金补贴的经销商不在少数。长城汽车旗下的欧拉品牌，目前在售多款车型中，销量较好的为欧拉黑猫，最低配版售价为69,800元。4S店给出现金优惠为10,500元，购车价与奇瑞小蚂蚁同样不到6万元。如果指定配置，没有现车的话，需要等待至少1个月以上。\n低价+现金优惠，成了传统车企的新能源汽车销量秘诀。\n二、廉价背后的秘密\n在早期的新能源汽车领域，想要卖出低价靠的是补贴。\n举个例子，2017款奇瑞eQ电动车指导售价区间为16.99-17.19万元，在享受国家补贴、地方补贴和厂家补贴后，售价为6.98-7.18万元。以2017年当年北京的新能源汽车补贴政策计算，这款车能拿到国家、地方补贴为5.6万元。\n为补贴而应试考试的车企不在少数。最直接的证据就是续航，从2017年至今，新能源补贴政策对续航的门槛要求越来越高，致使车企不断推出高续航的车型来满足政策门槛。以2018年补贴政策为例，相比2017年的政策，对续航里程300km以下的车型补贴金额进行了下调，300km以上的车型补贴相应增加。\n今年的补贴政策就更有意思，根据2020年12月31日发布的补贴政策通知，纯电动乘用车续航里程在300公里以下的一律取消补贴。摆在国产车企面前，只有两个选择：一、把续航增加到300公里，拿到补贴；二、不要补贴，硬卖低续航的微型电动车。\n欧拉黑猫（拍摄：虎嗅）\n第一类的产品，会直接把300km续航当做产品及格线。比如欧拉黑猫基础版续航为301km，奔奔E-star续航为301km，奇瑞小蚂蚁续航同样是301km。这样一来，在确保补贴金额最大化的同时，避免增加过多续航所带来的电池成本增加，最终就实现了产品定价的最低化。\n而五菱宏光MINI EV就属于第二类，不要补贴，只求最低价。2.88万元起的宏光MINI EV，续航只有120km。即便是高配版4.36万元的车型，续航也才170km，与补贴门槛的300km相去甚远。事实证明，不要国家补贴也能畅销。去年7月上市以来，宏光MINI EV连续9个月稳居中国新能源市场销冠。\n宏光MINI EV崛起，让更多车企开始探索无补贴的“无人区”。比如，前广汽蔚来创始人廖兵创办的自由汽车，据一位知情人士向虎嗅透露，自由汽车目前准备进军10万元以下的微型纯电动市场，对标宏光MINI EV、长安奔奔EV等热销车型。还有，大众汽车旗下产品思皓E10X，起售价3.99万-7.59万元，提供NEDC工况150km、200km、302km三种续航版本。\n看到这，可能有很多人表示疑惑，原来燃油车都没有卖过这么便宜，现在纯电动汽车为何纷纷便宜到跟“老年代步车”抢市场呢？低价背后还有个秘密，是双积分制度。\n今年5月，工信息部发布《乘用车企业平均燃料消耗量与新能源汽车积分并行管理实施情况年度报告（2021）》。报告显示，2020年度，中国138家乘用车企业中，燃料消耗量负积分达666万，新能源正积分为328万分。这也就意味着，双积分仍存在338万分的缺口。\n稍微科普一下“双积分制度”：生产新能源车积正分，燃油车积负分，各类车积多少分有明确标准，以一年为限，车企的积分=平均燃油消耗量负积分+新能源汽车正积分。负积分可以与正积分之间进行交易，抵偿，转让等。\n根据规定，如果车企没有满足新能源的积分要求，将会受到暂停高油耗产品申报、暂停高油耗产品生产等处罚。不过，对于企业平均燃料消耗量负积分数量较大的车企来说，可以使用本企业结转的平均燃料消耗量正积分、使用本企业受让的平均燃料消耗量正积分、使用本企业产生的新能源汽车正积分，以及购买新能源汽车正积分这几种办法来抵偿负积分。\n\n简单来说，对于主要生产燃油车的企业，要么花钱买积分，要么多卖新能源汽车赚积分。\n不久前，有外媒报道，大众在中国的合资企业一汽-大众将从特斯拉购买新能源汽车积分，出价约为每个积分3000元人民币，远高于前几年的价格。\n兴业证券发布的研报显示，当前新能源积分交易价格已从最初的300元-500元/分，上涨至2500元-3000元/分，涨幅达9倍。全国工商联汽车经销商商会常务会长、新能源汽车专委会会长李金勇在采访中表示，今年的新能源积分将延续去年供不应求的局面，积分价格或将达到6000-10000元/分。\n另一种方式，就是多卖新能源汽车。比如上汽通用五菱2020年度，获得了44万新能源正积分，为上汽通用解决92万负积分提供了一定的保障。\n以长城汽车旗下欧拉品牌的欧拉黑猫为例，2021年，一辆欧拉黑猫可获取新能源正积分2.08分，每分价格计为6000元，电池成本可下降100元/千瓦时，磷酸铁锂成本的降幅更大，虽然补贴减少了，但总成本仍可降低1.24万元。也就是说，电池成本的降低足以抵消补贴减少对企业造车成本的不利影响。\n一位欧拉汽车的销售告诉虎嗅，在欧拉品牌的销量帮助下，去年长城汽车完成了双积分任务，也就意味着长城汽车不需要额外花钱购买新能源正积分。\n图片来源：《电动汽车观察家》\n再比如，长安汽车2020年的平均燃料消耗量负积分接近62万分，新能源正积分只有不到3万分，还需要60万分需要抵偿。同理，如果购买积分，每分3000元，需要花费18亿元。如果生产奔奔EV，每辆车的新能源正积分算作2分，则需生产30万辆即可。有内部人士透露，即便低价卖车亏钱，也比购买积分付出的性价比高，这是长安力推超低价奔奔E-Star的主要原因。\n写在最后\n一个更有趣的现象，正在发生。\n今年6月17日，工信部就《纯电动乘用车技术条件》这项推荐性国家标准征求意见。标准增加了针对微型低速纯电动乘用车的技术要求，这意味着，“老年代步车”有望从监管灰色地带纳入正规化管理。\n“我认为把低速电动车纳入规范化管理，事实上给予了规范企业一个上升的通道，同时淘汰不规范的企业，不过这一定程度上导致微型车企业面临尴尬的局面。”\n中国汽车流通协会汽车市场研究分会秘书长崔东树在采访中表示，微型车企业要在高成本与求生存之间进行选择，上去的话成本就高了，下去的话就没有活路了。\n接下来，很可能你会看到这样的市场情形——国产车企生产的微型纯电动汽车，和“老头乐”开始抢市场。","news_type":1,"symbols_score_info":{"00305":0.9,"000625":0.9}},"isVote":1,"tweetType":1,"viewCount":5026,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120945346,"gmtCreate":1624293839185,"gmtModify":1703832822807,"author":{"id":"3576405243338366","authorId":"3576405243338366","name":"rocat","avatar":"https://static.tigerbbs.com/e537c7a4cf09b6014ec1c1754eac4da9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576405243338366","idStr":"3576405243338366"},"themes":[],"title":"","htmlText":". ","listText":". ","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/120945346","repostId":"1131452883","repostType":4,"repost":{"id":"1131452883","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":1624290305,"share":"https://ttm.financial/m/news/1131452883?lang=en_US&edition=fundamental","pubTime":"2021-06-21 23:45","market":"us","language":"zh","title":"Spark Thinking submitted its IPO application in the US, with first-quarter revenue growing by 202.7%.","url":"https://stock-news.laohu8.com/highlight/detail?id=1131452883","media":"老虎资讯综合","summary":"据美国证券交易委员会文件：火花思维教育科技公司提交在美IPO申请，拟筹资达1亿美元，寻求在纳斯达克上市，股票代码为SPRK。\n招股书显示，火花思维2019年营收为1.95亿元，2020年营收为11.7","content":"<p>According to U.S. Securities and Exchange Commission filings, Spark Thinking Education Technology has filed for an IPO in the United States, aiming to raise $100 million and seek to list on Nasdaq under the ticker symbol SPRK.</p><p>According to the prospectus, Spark Thinking's revenue was 195 million yuan in 2019 and 1.174 billion yuan in 2020, representing a year-on-year increase of 502.1%. Spark Thinking suffered a net loss of 771 million yuan in 2019, 952 million yuan in 2020, and a cumulative loss of 1.723 billion yuan in the past two years.</p><p>For the first quarter ending March 31, Spark Thinking's revenue was 454 million yuan, a year-on-year increase of 202.7%. In the first quarter, Spark Thinking reported a net loss of 374 million yuan, an increase of 78.95% compared to the first quarter of 2020.</p><p>The loss was mainly due to the rapid growth in selling and marketing expenses. According to the prospectus, in 2019, Spark Thinking's sales and marketing expenses, R&D expenses and general administrative expenses were RMB 236 million, RMB 240 million and RMB 128 million, respectively. In 2020, these three expenditures were 798 million yuan, 327 million yuan, and 178 million yuan, respectively.</p><p>In the first quarter of 2021, Spark Thinking's sales and marketing expenses were RMB 343 million, an increase of 203.5% compared to the first quarter of 2020. R&D investment was 144 million yuan, an increase of 107.7% compared to the first quarter of 2020.</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>Spark Thinking submitted its IPO application in the US, with first-quarter revenue growing by 202.7%.</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\">\nSpark Thinking submitted its IPO application in the US, with first-quarter revenue growing by 202.7%.\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\">2021-06-21 23:45</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>According to U.S. Securities and Exchange Commission filings, Spark Thinking Education Technology has filed for an IPO in the United States, aiming to raise $100 million and seek to list on Nasdaq under the ticker symbol SPRK.</p><p>According to the prospectus, Spark Thinking's revenue was 195 million yuan in 2019 and 1.174 billion yuan in 2020, representing a year-on-year increase of 502.1%. Spark Thinking suffered a net loss of 771 million yuan in 2019, 952 million yuan in 2020, and a cumulative loss of 1.723 billion yuan in the past two years.</p><p>For the first quarter ending March 31, Spark Thinking's revenue was 454 million yuan, a year-on-year increase of 202.7%. In the first quarter, Spark Thinking reported a net loss of 374 million yuan, an increase of 78.95% compared to the first quarter of 2020.</p><p>The loss was mainly due to the rapid growth in selling and marketing expenses. According to the prospectus, in 2019, Spark Thinking's sales and marketing expenses, R&D expenses and general administrative expenses were RMB 236 million, RMB 240 million and RMB 128 million, respectively. In 2020, these three expenditures were 798 million yuan, 327 million yuan, and 178 million yuan, respectively.</p><p>In the first quarter of 2021, Spark Thinking's sales and marketing expenses were RMB 343 million, an increase of 203.5% compared to the first quarter of 2020. R&D investment was 144 million yuan, an increase of 107.7% compared to the first quarter of 2020.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/7186383295e35dbeed76b7df4bae0d3b","relate_stocks":{".IXIC":"NASDAQ Composite"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131452883","content_text":"据美国证券交易委员会文件：火花思维教育科技公司提交在美IPO申请，拟筹资达1亿美元，寻求在纳斯达克上市，股票代码为SPRK。\n招股书显示，火花思维2019年营收为1.95亿元，2020年营收为11.74亿元，年比增幅为502.1%；火花思维在2019年的净亏损为7.71亿元，2020年净亏损9.52亿元，近两年累计亏损17.23亿元。\n截止3月31日的第一季度，火花思维营收为4.54亿元，同比增长202.7%。一季度，火花思维净亏损为3.74亿元，同比2020年第一季度扩大78.95%。\n亏损主要来自于销售及市场营销费用支出的快速增长。招股书显示，2019年火花思维的销售及市场营销费用、研发费用和一般行政管理支出费用分别是2.36亿元、2.4亿元及1.28亿元；2020年，这三项支出分别是7.98亿元、3.27亿元和1.78亿元。\n2021年第一季度，火花思维的销售及市场营销费用支出为3.43亿元，同比2020年第一季度增长203.5%。研发投入为1.44亿元，同比2020年第一季度增长107.7%。","news_type":1,"symbols_score_info":{".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":5187,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164269653,"gmtCreate":1624208391772,"gmtModify":1703830682741,"author":{"id":"3576405243338366","authorId":"3576405243338366","name":"rocat","avatar":"https://static.tigerbbs.com/e537c7a4cf09b6014ec1c1754eac4da9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576405243338366","idStr":"3576405243338366"},"themes":[],"title":"","htmlText":"Ok//<a href=\"https://laohu8.com/U/4087128100298440\">@SIONGBENG</a>: Good","listText":"Ok//<a href=\"https://laohu8.com/U/4087128100298440\">@SIONGBENG</a>: Good","text":"Ok//@SIONGBENG: Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/164269653","repostId":"1166679093","repostType":4,"repost":{"id":"1166679093","kind":"news","pubTimestamp":1624065234,"share":"https://ttm.financial/m/news/1166679093?lang=en_US&edition=fundamental","pubTime":"2021-06-19 09:13","market":"us","language":"en","title":"3 Meme Stocks Wall Street Predicts Will Plunge More Than 20%","url":"https://stock-news.laohu8.com/highlight/detail?id=1166679093","media":"fool","summary":"Meme stocks have been all the rage so far this year. That's understandable, with several of them del","content":"<p>Meme stocks have been all the rage so far this year. That's understandable, with several of them delivering triple-digit and even four-digit percentage gains.</p>\n<p>However, what goes up can come down. Analysts don't expect the online frenzy fueling the ginormous jumps for some of the most popular stocks will be sustainable. Here are three meme stocks that Wall Street thinks will plunge by more than 20% within the next 12 months.</p>\n<p>AMC Entertainment</p>\n<p><b>AMC Entertainment</b>(NYSE:AMC)ranks as the best-performing meme stock of all. Shares of the movie theater operator have skyrocketed close to 2,500% year to date.</p>\n<p>The consensus among analysts, though, is that the stock could lose 90% of its current value. Even the most optimistic analyst surveyed by Refinitiv has a price target for AMC that's more than 70% below the current share price.</p>\n<p>But isn't AMC's business picking up? Yep. The easing of restrictions has enabled the company to reopen 99% of its U.S. theaters. AMC could benefit as seating capacity limitations imposed by state and local governments are raised. Thereleases of multiple movies this summerand later this year that are likely to be hits should also help.</p>\n<p>However, Wall Street clearly believes that AMC's share price has gotten way ahead of its business prospects. The stock is trading at nearly eight times higher than it was before the COVID-19 pandemic.</p>\n<p>Clover Health Investments</p>\n<p>Only a few days ago, it looked like <b>Clover Health Investments</b>(NASDAQ:CLOV)might push AMC to the side as the hottest meme stock. Retail investors viewed Clover as a primeshort squeezecandidate.</p>\n<p>Since the beginning of June, shares of Clover Health have jumped more than 65%. Analysts, however, don't expect those gains to last. The average price target for the stock is 25% below the current share price.</p>\n<p>Clover Health's valuation does seem to have gotten out of hand. The healthcare stock currently trades at more than 170 times trailing-12-month sales. That's a nosebleed level, especially considering that the company is the subject of investigations by the U.S. Department of Justice and the Securities and Exchange Commission.</p>\n<p>Still, Clover Health could deliver improving financial results this year. The company hopes to significantly increase its membership by targeting the original Medicare program. This represents a major new market opportunity in addition to its current Medicare Advantage business.</p>\n<p>Sundial Growers</p>\n<p>At one point earlier this year, <b>Sundial Growers</b>(NASDAQ:SNDL)appeared to be a legitimate contender to become the biggest winner among meme stocks. The Canadian marijuana stock vaulted more than 520% higher year to date before giving up much of its gains. However, Sundial's share price has still more than doubled in 2021.</p>\n<p>Analysts anticipate that the pot stock could fall even further. The consensus price target for Sundial reflects a 23% discount to its current share price. One analyst even thinks the stock could sink 55%.</p>\n<p>There certainly are reasons to be pessimistic about Sundial's core cannabis business. The company's net cannabis revenue fell year over year in the first quarter of 2021. Although Sundial is taking steps that it hopes will turn things around, it remains to be seen if those efforts will succeed.</p>\n<p>Sundial's business deals could give investors reasons for optimism. After all, the company posted positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in Q1 due to its investments.</p>\n<p>However, the cash that Sundial is using to make these investments has come at the cost of increased dilution of its stock. The company can't afford any additional dilution without having to resort to desperate measures to keep its listing on the <b>Nasdaq</b> stock exchange.</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>3 Meme Stocks Wall Street Predicts Will Plunge More Than 20%</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Meme Stocks Wall Street Predicts Will Plunge More Than 20%\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-19 09:13 GMT+8 <a href=https://www.fool.com/investing/2021/06/18/3-meme-stocks-wall-street-predicts-will-plunge-mor/><strong>fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Meme stocks have been all the rage so far this year. That's understandable, with several of them delivering triple-digit and even four-digit percentage gains.\nHowever, what goes up can come down. ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/18/3-meme-stocks-wall-street-predicts-will-plunge-mor/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线","SNDL":"SNDL Inc.","CLOV":"Clover Health Corp"},"source_url":"https://www.fool.com/investing/2021/06/18/3-meme-stocks-wall-street-predicts-will-plunge-mor/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166679093","content_text":"Meme stocks have been all the rage so far this year. That's understandable, with several of them delivering triple-digit and even four-digit percentage gains.\nHowever, what goes up can come down. Analysts don't expect the online frenzy fueling the ginormous jumps for some of the most popular stocks will be sustainable. Here are three meme stocks that Wall Street thinks will plunge by more than 20% within the next 12 months.\nAMC Entertainment\nAMC Entertainment(NYSE:AMC)ranks as the best-performing meme stock of all. Shares of the movie theater operator have skyrocketed close to 2,500% year to date.\nThe consensus among analysts, though, is that the stock could lose 90% of its current value. Even the most optimistic analyst surveyed by Refinitiv has a price target for AMC that's more than 70% below the current share price.\nBut isn't AMC's business picking up? Yep. The easing of restrictions has enabled the company to reopen 99% of its U.S. theaters. AMC could benefit as seating capacity limitations imposed by state and local governments are raised. Thereleases of multiple movies this summerand later this year that are likely to be hits should also help.\nHowever, Wall Street clearly believes that AMC's share price has gotten way ahead of its business prospects. The stock is trading at nearly eight times higher than it was before the COVID-19 pandemic.\nClover Health Investments\nOnly a few days ago, it looked like Clover Health Investments(NASDAQ:CLOV)might push AMC to the side as the hottest meme stock. Retail investors viewed Clover as a primeshort squeezecandidate.\nSince the beginning of June, shares of Clover Health have jumped more than 65%. Analysts, however, don't expect those gains to last. The average price target for the stock is 25% below the current share price.\nClover Health's valuation does seem to have gotten out of hand. The healthcare stock currently trades at more than 170 times trailing-12-month sales. That's a nosebleed level, especially considering that the company is the subject of investigations by the U.S. Department of Justice and the Securities and Exchange Commission.\nStill, Clover Health could deliver improving financial results this year. The company hopes to significantly increase its membership by targeting the original Medicare program. This represents a major new market opportunity in addition to its current Medicare Advantage business.\nSundial Growers\nAt one point earlier this year, Sundial Growers(NASDAQ:SNDL)appeared to be a legitimate contender to become the biggest winner among meme stocks. The Canadian marijuana stock vaulted more than 520% higher year to date before giving up much of its gains. However, Sundial's share price has still more than doubled in 2021.\nAnalysts anticipate that the pot stock could fall even further. The consensus price target for Sundial reflects a 23% discount to its current share price. One analyst even thinks the stock could sink 55%.\nThere certainly are reasons to be pessimistic about Sundial's core cannabis business. The company's net cannabis revenue fell year over year in the first quarter of 2021. Although Sundial is taking steps that it hopes will turn things around, it remains to be seen if those efforts will succeed.\nSundial's business deals could give investors reasons for optimism. After all, the company posted positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in Q1 due to its investments.\nHowever, the cash that Sundial is using to make these investments has come at the cost of increased dilution of its stock. The company can't afford any additional dilution without having to resort to desperate measures to keep its listing on the Nasdaq stock exchange.","news_type":1,"symbols_score_info":{"AMC":0.9,"SNDL":0.9,"CLOV":0.9}},"isVote":1,"tweetType":1,"viewCount":4810,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164269198,"gmtCreate":1624208377814,"gmtModify":1703830682902,"author":{"id":"3576405243338366","authorId":"3576405243338366","name":"rocat","avatar":"https://static.tigerbbs.com/e537c7a4cf09b6014ec1c1754eac4da9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576405243338366","idStr":"3576405243338366"},"themes":[],"title":"","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/164269198","repostId":"1156696708","repostType":4,"isVote":1,"tweetType":1,"viewCount":4757,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":163221889,"gmtCreate":1623886756441,"gmtModify":1703822362665,"author":{"id":"3576405243338366","authorId":"3576405243338366","name":"rocat","avatar":"https://static.tigerbbs.com/e537c7a4cf09b6014ec1c1754eac4da9","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576405243338366","idStr":"3576405243338366"},"themes":[],"title":"","htmlText":"Hi ","listText":"Hi ","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/163221889","repostId":"1199737134","repostType":4,"repost":{"id":"1199737134","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1623885157,"share":"https://ttm.financial/m/news/1199737134?lang=en_US&edition=fundamental","pubTime":"2021-06-17 07:12","market":"us","language":"en","title":"Musk-Touted CureVac Loses 49% of Value After Vaccine Setback","url":"https://stock-news.laohu8.com/highlight/detail?id=1199737134","media":"Tiger Newspress","summary":"Company plunges After Covid Shot Falls Short With 47% Efficacy\nEffectiveness is far below that seen ","content":"<ul>\n <li>Company plunges After Covid Shot Falls Short With 47% Efficacy</li>\n <li>Effectiveness is far below that seen with other mRNA vaccines</li>\n</ul>\n<p>CureVac NV shares plunged after a preliminary analysis of a large study muddied by the spread of virus variants found its Covid-19 vaccine was 47% effective, well short of the high bar set by other messenger RNA shots.</p>\n<p>The interim analysis of data from about 40,000 volunteers included 134 Covid cases, the German company said in a statement. CureVac declined to say how many who got the shot got sick or how many received a placebo. But the results suggest the vaccine works less well for older people than in a younger population, Chief Technology Officer Mariola Fotin-Mleczek said in an interview Wednesday.</p>\n<p>Though preliminary, the results throw the future of the vaccine into question as wealthy nations around the world move swiftly to inoculate their populations with shots already available. Still, CureVac will finish its trial and plans to gain approval, Chief Executive Officer Franz-Werner Haas said.</p>\n<p>“There is a huge need for vaccine, and I think we can still make a contribution,” Haas said.</p>\n<p>The company’s shares fell more than 49% in post-market trading after being up 17% this year through Wednesday’s close.</p>\n<p><img src=\"https://static.tigerbbs.com/d6ec3f2e05cfbc6c7d87c3fa174f459c\" tg-width=\"1302\" tg-height=\"663\"></p>\n<p>In April, Elon Musk tweeted about CureVac, which Tesla Inc. has partnered with on a vaccine printer,saying it “sounds like they’re a few months away from regulatory approval.” He added that “a tidal wave of vaccine is coming this summer.” He later deleted the tweet.</p>\n<p>The shot could be a boost in the developing world, since it doesn’t require the deep freezing needed for other Covid shots. Partly owned by the German government, CureVac has forged partnerships with Bayer AG,GlaxoSmithKline Plc and the U.K. government aimed at speeding production of its shot and future versions that will target mutated strains.</p>\n<p>The data comes as the world is at something of a crossroads in the Covid fight, with global infections falling even as outbreaks in places with less access to vaccines serve as a reminder that the pandemic is far from over. The wealthiest countries have taken an outsize share of the more than 2.4 billion shots administered so far.</p>\n<p>The proliferation of variants in the CureVac trial is testimony to how the pandemic has changed since the first large vaccine clinical trials were run last year.</p>\n<p><b>Genetic Sequencing</b></p>\n<p>CureVac’s researchers genetically sequenced 124 of the 134 cases they included in their analysis. Just one of the sequenced cases was due to the original SARS-CoV-2 virus first identified in Wuhan, China. The rest came from a range of variants, including 21% of cases attributable to a new variant called lambda that was first identified in Peru.</p>\n<p>TheWorld Health Organization added lambda to its watchlist as a variant of interest on Monday.</p>\n<p>Some 57% of the Covid cases in the study were due to so-called variants of concern, the four variants that the World Health Organization has deemed the most worrying. Most of these -- about 41% of all the cases -- were due to the alpha variant first observed in the U.K., CureVac said.</p>\n<p>That variant is now the most common in the U.S., and other vaccines, including shots from Pfizer Inc. and BioNTech SE as well as Novavax Inc., have shown themselves effective against it. CureVac didn’t release detailed data about how its shot performed against each of the variants.</p>\n<p><b>Final Readout</b></p>\n<p>More details will emerge in the final readout of the study, which will include more than 200 Covid cases and could come within two or three weeks, CureVac said.</p>\n<p>Like the shots from Moderna Inc. and the Pfizer-BioNtech alliance, CureVac’s vaccine relies on mRNA, enlisting the body’s own cells as vaccine factories. Unproven until last year, the technology has now catapulted to the forefront of the global fight against Covid.</p>\n<p>CureVac’s shot, though, is subtly different than its competitors, because it uses an unmodified form of mRNA.</p>\n<p>CureVac has said it plans to supply 300 million vaccine doses this year, enough to immunize 150 million people. Together with partners, it has said it will supply more than 1 billion doses in 2022.</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-Touted CureVac Loses 49% of Value After Vaccine Setback</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMusk-Touted CureVac Loses 49% of Value After Vaccine Setback\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-06-17 07:12</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li>Company plunges After Covid Shot Falls Short With 47% Efficacy</li>\n <li>Effectiveness is far below that seen with other mRNA vaccines</li>\n</ul>\n<p>CureVac NV shares plunged after a preliminary analysis of a large study muddied by the spread of virus variants found its Covid-19 vaccine was 47% effective, well short of the high bar set by other messenger RNA shots.</p>\n<p>The interim analysis of data from about 40,000 volunteers included 134 Covid cases, the German company said in a statement. CureVac declined to say how many who got the shot got sick or how many received a placebo. But the results suggest the vaccine works less well for older people than in a younger population, Chief Technology Officer Mariola Fotin-Mleczek said in an interview Wednesday.</p>\n<p>Though preliminary, the results throw the future of the vaccine into question as wealthy nations around the world move swiftly to inoculate their populations with shots already available. Still, CureVac will finish its trial and plans to gain approval, Chief Executive Officer Franz-Werner Haas said.</p>\n<p>“There is a huge need for vaccine, and I think we can still make a contribution,” Haas said.</p>\n<p>The company’s shares fell more than 49% in post-market trading after being up 17% this year through Wednesday’s close.</p>\n<p><img src=\"https://static.tigerbbs.com/d6ec3f2e05cfbc6c7d87c3fa174f459c\" tg-width=\"1302\" tg-height=\"663\"></p>\n<p>In April, Elon Musk tweeted about CureVac, which Tesla Inc. has partnered with on a vaccine printer,saying it “sounds like they’re a few months away from regulatory approval.” He added that “a tidal wave of vaccine is coming this summer.” He later deleted the tweet.</p>\n<p>The shot could be a boost in the developing world, since it doesn’t require the deep freezing needed for other Covid shots. Partly owned by the German government, CureVac has forged partnerships with Bayer AG,GlaxoSmithKline Plc and the U.K. government aimed at speeding production of its shot and future versions that will target mutated strains.</p>\n<p>The data comes as the world is at something of a crossroads in the Covid fight, with global infections falling even as outbreaks in places with less access to vaccines serve as a reminder that the pandemic is far from over. The wealthiest countries have taken an outsize share of the more than 2.4 billion shots administered so far.</p>\n<p>The proliferation of variants in the CureVac trial is testimony to how the pandemic has changed since the first large vaccine clinical trials were run last year.</p>\n<p><b>Genetic Sequencing</b></p>\n<p>CureVac’s researchers genetically sequenced 124 of the 134 cases they included in their analysis. Just one of the sequenced cases was due to the original SARS-CoV-2 virus first identified in Wuhan, China. The rest came from a range of variants, including 21% of cases attributable to a new variant called lambda that was first identified in Peru.</p>\n<p>TheWorld Health Organization added lambda to its watchlist as a variant of interest on Monday.</p>\n<p>Some 57% of the Covid cases in the study were due to so-called variants of concern, the four variants that the World Health Organization has deemed the most worrying. Most of these -- about 41% of all the cases -- were due to the alpha variant first observed in the U.K., CureVac said.</p>\n<p>That variant is now the most common in the U.S., and other vaccines, including shots from Pfizer Inc. and BioNTech SE as well as Novavax Inc., have shown themselves effective against it. CureVac didn’t release detailed data about how its shot performed against each of the variants.</p>\n<p><b>Final Readout</b></p>\n<p>More details will emerge in the final readout of the study, which will include more than 200 Covid cases and could come within two or three weeks, CureVac said.</p>\n<p>Like the shots from Moderna Inc. and the Pfizer-BioNtech alliance, CureVac’s vaccine relies on mRNA, enlisting the body’s own cells as vaccine factories. Unproven until last year, the technology has now catapulted to the forefront of the global fight against Covid.</p>\n<p>CureVac’s shot, though, is subtly different than its competitors, because it uses an unmodified form of mRNA.</p>\n<p>CureVac has said it plans to supply 300 million vaccine doses this year, enough to immunize 150 million people. Together with partners, it has said it will supply more than 1 billion doses in 2022.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CVAC":"CureVac B.V."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199737134","content_text":"Company plunges After Covid Shot Falls Short With 47% Efficacy\nEffectiveness is far below that seen with other mRNA vaccines\n\nCureVac NV shares plunged after a preliminary analysis of a large study muddied by the spread of virus variants found its Covid-19 vaccine was 47% effective, well short of the high bar set by other messenger RNA shots.\nThe interim analysis of data from about 40,000 volunteers included 134 Covid cases, the German company said in a statement. CureVac declined to say how many who got the shot got sick or how many received a placebo. But the results suggest the vaccine works less well for older people than in a younger population, Chief Technology Officer Mariola Fotin-Mleczek said in an interview Wednesday.\nThough preliminary, the results throw the future of the vaccine into question as wealthy nations around the world move swiftly to inoculate their populations with shots already available. Still, CureVac will finish its trial and plans to gain approval, Chief Executive Officer Franz-Werner Haas said.\n“There is a huge need for vaccine, and I think we can still make a contribution,” Haas said.\nThe company’s shares fell more than 49% in post-market trading after being up 17% this year through Wednesday’s close.\n\nIn April, Elon Musk tweeted about CureVac, which Tesla Inc. has partnered with on a vaccine printer,saying it “sounds like they’re a few months away from regulatory approval.” He added that “a tidal wave of vaccine is coming this summer.” He later deleted the tweet.\nThe shot could be a boost in the developing world, since it doesn’t require the deep freezing needed for other Covid shots. Partly owned by the German government, CureVac has forged partnerships with Bayer AG,GlaxoSmithKline Plc and the U.K. government aimed at speeding production of its shot and future versions that will target mutated strains.\nThe data comes as the world is at something of a crossroads in the Covid fight, with global infections falling even as outbreaks in places with less access to vaccines serve as a reminder that the pandemic is far from over. The wealthiest countries have taken an outsize share of the more than 2.4 billion shots administered so far.\nThe proliferation of variants in the CureVac trial is testimony to how the pandemic has changed since the first large vaccine clinical trials were run last year.\nGenetic Sequencing\nCureVac’s researchers genetically sequenced 124 of the 134 cases they included in their analysis. Just one of the sequenced cases was due to the original SARS-CoV-2 virus first identified in Wuhan, China. The rest came from a range of variants, including 21% of cases attributable to a new variant called lambda that was first identified in Peru.\nTheWorld Health Organization added lambda to its watchlist as a variant of interest on Monday.\nSome 57% of the Covid cases in the study were due to so-called variants of concern, the four variants that the World Health Organization has deemed the most worrying. Most of these -- about 41% of all the cases -- were due to the alpha variant first observed in the U.K., CureVac said.\nThat variant is now the most common in the U.S., and other vaccines, including shots from Pfizer Inc. and BioNTech SE as well as Novavax Inc., have shown themselves effective against it. CureVac didn’t release detailed data about how its shot performed against each of the variants.\nFinal Readout\nMore details will emerge in the final readout of the study, which will include more than 200 Covid cases and could come within two or three weeks, CureVac said.\nLike the shots from Moderna Inc. and the Pfizer-BioNtech alliance, CureVac’s vaccine relies on mRNA, enlisting the body’s own cells as vaccine factories. Unproven until last year, the technology has now catapulted to the forefront of the global fight against Covid.\nCureVac’s shot, though, is subtly different than its competitors, because it uses an unmodified form of mRNA.\nCureVac has said it plans to supply 300 million vaccine doses this year, enough to immunize 150 million people. Together with partners, it has said it will supply more than 1 billion doses in 2022.","news_type":1,"symbols_score_info":{"CVAC":0.9}},"isVote":1,"tweetType":1,"viewCount":6009,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}