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2021-08-19

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Investment bank Benchmark lowered its target price for Vipshop (VIPS.N) to $25.

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href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2021081918253379e3efb5&s=b\">新浪财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/76824cd4c5b97eaacdaab63d96995a28","relate_stocks":{"VIPS":"唯品会"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2021081918253379e3efb5&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2160376667","content_text":"投行Benchmark：将唯品会(VIPS.N)目标价下调至25美元。","news_type":1,"symbols_score_info":{"VIPS":1}},"isVote":1,"tweetType":1,"viewCount":5314,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":897532124,"gmtCreate":1628938856468,"gmtModify":1676529897051,"author":{"id":"3564909256585570","authorId":"3564909256585570","name":"Fengjie","avatar":"https://static.tigerbbs.com/45987ca4f2ac62a210c20544200c49f9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564909256585570","idStr":"3564909256585570"},"themes":[],"title":"","htmlText":"Gogogogo","listText":"Gogogogo","text":"Gogogogo","images":[{"img":"https://static.tigerbbs.com/722afb27ca24a7480184c0866655bf3c","width":"750","height":"2275"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/897532124","isVote":1,"tweetType":1,"viewCount":5031,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":898421797,"gmtCreate":1628518247719,"gmtModify":1703507458751,"author":{"id":"3564909256585570","authorId":"3564909256585570","name":"Fengjie","avatar":"https://static.tigerbbs.com/45987ca4f2ac62a210c20544200c49f9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564909256585570","idStr":"3564909256585570"},"themes":[],"title":"","htmlText":"Gogogo&nbsp;","listText":"Gogogo&nbsp;","text":"Gogogo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/898421797","repostId":"1113831198","repostType":4,"repost":{"id":"1113831198","kind":"news","pubTimestamp":1628510766,"share":"https://ttm.financial/m/news/1113831198?lang=en_US&edition=fundamental","pubTime":"2021-08-09 20:06","market":"hk","language":"zh","title":"Is Alibaba's culture rotten to the core?","url":"https://stock-news.laohu8.com/highlight/detail?id=1113831198","media":" 丫丫港股圈","summary":"26年前，杭州明珠电视台在马路上做了一个小测试，他们请人假装偷井盖，看看有多少人会见义勇为，对这种违法行为say no。\n最后，通过测试的只有一个人，就是马云。\n4年之后的1999年，热心群众马云带领","content":"<p>Twenty-six years ago, Hangzhou Pearl TV conducted a small test on the street. They asked people to pretend to steal manhole covers to see how many people would act bravely and say no to such illegal behavior.</p><p><b>In the end, only one person passed the test, and that was Jack Ma.</b></p><p>Four years later, in 1999, enthusiastic citizen Jack Ma led his eighteen entrepreneurs to found Alibaba, which subsequently overcame numerous obstacles to become the largest retail platform in China. The values of this group of \"enthusiastic people\" have also been refined into the Six Meridians Divine Sword, which can be summarized in one sentence:<b>A group of compassionate and righteous people getting together to do something valuable and meaningful.</b></p><p>In 2021, after the Bund financial scandal, the Jiang Fan sex scandal, and the Alibaba P8 mistress scandal, Alibaba's scandals finally reached their peak:<b>In the early hours of August 8, a trending topic erupted online: Wang Chengwen, head of the merchant operations team of Alibaba Taoxianda North China, was suspected of assaulting a female subordinate after a merchant dinner.</b></p><p><img src=\"https://static.tigerbbs.com/98917611752bc204eb925b2013ced756\" tg-width=\"550\" tg-height=\"637\" referrerpolicy=\"no-referrer\"></p><p>What's even more frightening is that after the incident, the parties involved reported it to higher levels.<b>From BU leader Jiu Rong, HR head Yue Er, Taoxianda LKA head Forrest Gump, and even Lao Ding and Ding Dong at the BG level, none of them realized the seriousness of the problem. Instead, they repeatedly covered it up and tried to suppress the matter.</b></p><p><b>These are hardly people with feelings or righteousness; they are clearly a group of indifferent and numb people.</b></p><p><img src=\"https://static.tigerbbs.com/852987e1c2b4efdf9d84be0b249d0c7e\" tg-width=\"547\" tg-height=\"465\" referrerpolicy=\"no-referrer\"></p><p><b>Today's Alibaba is no longer the Alibaba of yesteryear, even in the capital market.</b></p><p>Since the Bund Financial Summit on October 24 last year, Alibaba's stock price has fallen by nearly 40% from its high. During this period, Alibaba's market value evaporated by 2 trillion yuan, and Ant Group's employees may never hear the voice of financial freedom again.</p><p><img src=\"https://static.tigerbbs.com/a7f49871c8fb6cffc29a0039ad2023fe\" tg-width=\"750\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p><p><b>The stock price plummeted, and performance was the main reason.</b></p><p>According to its semi-annual report released in 2020, Alibaba's revenue increased by 33% year-on-year, but at the same time, operating profit and net profit fell by 11.1% and 7.7% respectively. The decline in operating profit was mainly due to two aspects:</p><p><b>First, gross profit margin declined.</b>Gross profit margin dropped from 45% in the first half of 2020 to less than 40%;</p><p><b>Second, sales expenses have surged.</b>Revenue growth was only 33% year-on-year, but sales expenses nearly doubled.</p><p><img src=\"https://static.tigerbbs.com/fdb5a377e28019c722858cef4710c4d9\" tg-width=\"727\" tg-height=\"571\" referrerpolicy=\"no-referrer\"></p><p><b>The reason for the decline in gross profit margin and the surge in sales expenses is also obvious: the new retail business.</b></p><p>Breaking down Alibaba's business, we can find that half of the 50 billion yuan increase in revenue came from other parts of its retail business, namely Sun Art Retail, Tmall Supermarket, and Hema.<b>Of course, this also includes Taoxianda, which got into trouble this time.</b></p><p>However, despite the growth, the new retail business model is heavy and has low profits.<b>To expand, we also need to discuss business and drink with merchants.</b>As a result, Alibaba's revenue increased but its profits did not, its gross profit margin declined, and its sales expenses were extremely high.</p><p><img src=\"https://static.tigerbbs.com/d30fe75d0a715b7c600cfca8457f1cb1\" tg-width=\"728\" tg-height=\"643\" referrerpolicy=\"no-referrer\"></p><p><b>This was also a last resort for Alibaba.</b>Currently, China's total retail sales reach 40 trillion yuan, a portion of which is in sectors such as automobiles, catering, and fresh food. There is not much room left for online e-commerce, and if it wants to grow, it can only enter other sectors.</p><p>Alibaba's other businesses, such as local services, Cainiao Logistics, and even cloud computing, are not actually growing well and cannot make a significant contribution to Alibaba's growth rate.</p><p>To grow, we can only continue to rely on new retail.</p><p>As a result, some voices in the market say that Alibaba's forced female employees to accompany them to drinks this time, and the fact that senior executive Forrest Gump tacitly approved or even condoned it after the incident, is because Alibaba is under great pressure to expand its business, and if it does not do so, the business cannot be negotiated.</p><p>The drinking incident occurred in order to achieve growth.</p><p><b>But I want to ask, could it be the other way around, that Alibaba's business growth is so poor because its culture is rotten?</b></p><p>It's not that there haven't been any booms in recent years, but Alibaba's new businesses haven't had much of an easy time.</p><p>In the food delivery sector, Ele.me has long been dominated by Meituan.</p><p>Meituan and Pinduoduo are making great strides in group buying. This year, Meituan and Pinduoduo can reach a scale of about 50 million orders per day, while Hema is always a step behind.</p><p>In terms of investment, the stock prices of Pinduoduo, SEA, and Bilibili, all invested in by Tencent, hit new highs last year, while companies invested in by Alibaba, such as Xiami Music, Suning.com, and Youku, are all declining.</p><p>We cannot know whether specific cultures have affected our business, but what we do see is...</p><p>In terms of internal management, from last year's Jiang Fan and Zhang Dayi incidents to the criticized icebreaker event, to the recent Alibaba P8 mistress incident involving job applicants, and then to this intolerable drinking incident, Alibaba seems to have problems from the top to the bottom.</p><p><b>In terms of performance,</b>The old business relies heavily on e-commerce and is also experiencing sluggish growth; Among new businesses, new retail increases revenue but not profit, and even cloud computing growth cannot reach the core growth rate.</p><p><b>Performance is average.</b>Management has run into problems again. What else does Alibaba have besides its glorious history?</p><p>Of course, there are also times. Times have not abandoned Alibaba yet, and e-commerce is still Alibaba's cash cow. However, if the times also abandon Alibaba, then Alibaba may not be far from Yahoo and Nokia.</p><p><b>epilogue</b></p><p>As is well known, Jack Ma is a martial arts fan and particularly admires Jin Yong. Therefore, there is a \"nickname\" culture within Alibaba. The first thing he does when he joins Alibaba is to give himself a nickname. Jack Ma himself is nicknamed \"Feng Qingyang,\" which comes from the movie \"The Smiling, Proud Wanderer,\" because he is an excellent teacher.</p><p><img src=\"https://static.tigerbbs.com/6daf534be1922669ed020b90bfddf847\" tg-width=\"630\" tg-height=\"255\" referrerpolicy=\"no-referrer\"></p><p><b>But I wonder if Jack Ma has seen clearly that Jin Yong's novels include not only martial arts but also the martial arts world.</b></p><p>For example, the Quanzhen Sect was once at its peak. Its founder, Wang Chongyang, rose up against the Jin Dynasty and upheld chivalry and justice, earning it the reputation of \"the authentic martial arts of the world\".</p><p>However, in the later stages, the Quanzhen Sect expanded its membership too quickly, causing its numbers to increase unprecedentedly. In addition, Zhao Zhijing and Yin Zhiping failed to manage effectively, resulting in a crooked top and bottom, and the uneven quality of its members. As a result, the Quanzhen Sect began to decline and eventually decline.</p><p>Similar stories of rise and fall have also occurred in major gangs such as the Beggars' Sect.</p><p>it takes years to build a reputation and minutes to ruin it.</p><p>Hopefully, Alibaba will still be the Alibaba of yesteryear.</p>","source":"lsy1568959956107","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 Alibaba's culture rotten to the core?</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\">\nIs Alibaba's culture rotten to the core?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\"> 丫丫港股圈</strong><span class=\"h-time small\">2021-08-09 20:06</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Twenty-six years ago, Hangzhou Pearl TV conducted a small test on the street. They asked people to pretend to steal manhole covers to see how many people would act bravely and say no to such illegal behavior.</p><p><b>In the end, only one person passed the test, and that was Jack Ma.</b></p><p>Four years later, in 1999, enthusiastic citizen Jack Ma led his eighteen entrepreneurs to found Alibaba, which subsequently overcame numerous obstacles to become the largest retail platform in China. The values of this group of \"enthusiastic people\" have also been refined into the Six Meridians Divine Sword, which can be summarized in one sentence:<b>A group of compassionate and righteous people getting together to do something valuable and meaningful.</b></p><p>In 2021, after the Bund financial scandal, the Jiang Fan sex scandal, and the Alibaba P8 mistress scandal, Alibaba's scandals finally reached their peak:<b>In the early hours of August 8, a trending topic erupted online: Wang Chengwen, head of the merchant operations team of Alibaba Taoxianda North China, was suspected of assaulting a female subordinate after a merchant dinner.</b></p><p><img src=\"https://static.tigerbbs.com/98917611752bc204eb925b2013ced756\" tg-width=\"550\" tg-height=\"637\" referrerpolicy=\"no-referrer\"></p><p>What's even more frightening is that after the incident, the parties involved reported it to higher levels.<b>From BU leader Jiu Rong, HR head Yue Er, Taoxianda LKA head Forrest Gump, and even Lao Ding and Ding Dong at the BG level, none of them realized the seriousness of the problem. Instead, they repeatedly covered it up and tried to suppress the matter.</b></p><p><b>These are hardly people with feelings or righteousness; they are clearly a group of indifferent and numb people.</b></p><p><img src=\"https://static.tigerbbs.com/852987e1c2b4efdf9d84be0b249d0c7e\" tg-width=\"547\" tg-height=\"465\" referrerpolicy=\"no-referrer\"></p><p><b>Today's Alibaba is no longer the Alibaba of yesteryear, even in the capital market.</b></p><p>Since the Bund Financial Summit on October 24 last year, Alibaba's stock price has fallen by nearly 40% from its high. During this period, Alibaba's market value evaporated by 2 trillion yuan, and Ant Group's employees may never hear the voice of financial freedom again.</p><p><img src=\"https://static.tigerbbs.com/a7f49871c8fb6cffc29a0039ad2023fe\" tg-width=\"750\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p><p><b>The stock price plummeted, and performance was the main reason.</b></p><p>According to its semi-annual report released in 2020, Alibaba's revenue increased by 33% year-on-year, but at the same time, operating profit and net profit fell by 11.1% and 7.7% respectively. The decline in operating profit was mainly due to two aspects:</p><p><b>First, gross profit margin declined.</b>Gross profit margin dropped from 45% in the first half of 2020 to less than 40%;</p><p><b>Second, sales expenses have surged.</b>Revenue growth was only 33% year-on-year, but sales expenses nearly doubled.</p><p><img src=\"https://static.tigerbbs.com/fdb5a377e28019c722858cef4710c4d9\" tg-width=\"727\" tg-height=\"571\" referrerpolicy=\"no-referrer\"></p><p><b>The reason for the decline in gross profit margin and the surge in sales expenses is also obvious: the new retail business.</b></p><p>Breaking down Alibaba's business, we can find that half of the 50 billion yuan increase in revenue came from other parts of its retail business, namely Sun Art Retail, Tmall Supermarket, and Hema.<b>Of course, this also includes Taoxianda, which got into trouble this time.</b></p><p>However, despite the growth, the new retail business model is heavy and has low profits.<b>To expand, we also need to discuss business and drink with merchants.</b>As a result, Alibaba's revenue increased but its profits did not, its gross profit margin declined, and its sales expenses were extremely high.</p><p><img src=\"https://static.tigerbbs.com/d30fe75d0a715b7c600cfca8457f1cb1\" tg-width=\"728\" tg-height=\"643\" referrerpolicy=\"no-referrer\"></p><p><b>This was also a last resort for Alibaba.</b>Currently, China's total retail sales reach 40 trillion yuan, a portion of which is in sectors such as automobiles, catering, and fresh food. There is not much room left for online e-commerce, and if it wants to grow, it can only enter other sectors.</p><p>Alibaba's other businesses, such as local services, Cainiao Logistics, and even cloud computing, are not actually growing well and cannot make a significant contribution to Alibaba's growth rate.</p><p>To grow, we can only continue to rely on new retail.</p><p>As a result, some voices in the market say that Alibaba's forced female employees to accompany them to drinks this time, and the fact that senior executive Forrest Gump tacitly approved or even condoned it after the incident, is because Alibaba is under great pressure to expand its business, and if it does not do so, the business cannot be negotiated.</p><p>The drinking incident occurred in order to achieve growth.</p><p><b>But I want to ask, could it be the other way around, that Alibaba's business growth is so poor because its culture is rotten?</b></p><p>It's not that there haven't been any booms in recent years, but Alibaba's new businesses haven't had much of an easy time.</p><p>In the food delivery sector, Ele.me has long been dominated by Meituan.</p><p>Meituan and Pinduoduo are making great strides in group buying. This year, Meituan and Pinduoduo can reach a scale of about 50 million orders per day, while Hema is always a step behind.</p><p>In terms of investment, the stock prices of Pinduoduo, SEA, and Bilibili, all invested in by Tencent, hit new highs last year, while companies invested in by Alibaba, such as Xiami Music, Suning.com, and Youku, are all declining.</p><p>We cannot know whether specific cultures have affected our business, but what we do see is...</p><p>In terms of internal management, from last year's Jiang Fan and Zhang Dayi incidents to the criticized icebreaker event, to the recent Alibaba P8 mistress incident involving job applicants, and then to this intolerable drinking incident, Alibaba seems to have problems from the top to the bottom.</p><p><b>In terms of performance,</b>The old business relies heavily on e-commerce and is also experiencing sluggish growth; Among new businesses, new retail increases revenue but not profit, and even cloud computing growth cannot reach the core growth rate.</p><p><b>Performance is average.</b>Management has run into problems again. What else does Alibaba have besides its glorious history?</p><p>Of course, there are also times. Times have not abandoned Alibaba yet, and e-commerce is still Alibaba's cash cow. However, if the times also abandon Alibaba, then Alibaba may not be far from Yahoo and Nokia.</p><p><b>epilogue</b></p><p>As is well known, Jack Ma is a martial arts fan and particularly admires Jin Yong. Therefore, there is a \"nickname\" culture within Alibaba. The first thing he does when he joins Alibaba is to give himself a nickname. Jack Ma himself is nicknamed \"Feng Qingyang,\" which comes from the movie \"The Smiling, Proud Wanderer,\" because he is an excellent teacher.</p><p><img src=\"https://static.tigerbbs.com/6daf534be1922669ed020b90bfddf847\" tg-width=\"630\" tg-height=\"255\" referrerpolicy=\"no-referrer\"></p><p><b>But I wonder if Jack Ma has seen clearly that Jin Yong's novels include not only martial arts but also the martial arts world.</b></p><p>For example, the Quanzhen Sect was once at its peak. Its founder, Wang Chongyang, rose up against the Jin Dynasty and upheld chivalry and justice, earning it the reputation of \"the authentic martial arts of the world\".</p><p>However, in the later stages, the Quanzhen Sect expanded its membership too quickly, causing its numbers to increase unprecedentedly. In addition, Zhao Zhijing and Yin Zhiping failed to manage effectively, resulting in a crooked top and bottom, and the uneven quality of its members. As a result, the Quanzhen Sect began to decline and eventually decline.</p><p>Similar stories of rise and fall have also occurred in major gangs such as the Beggars' Sect.</p><p>it takes years to build a reputation and minutes to ruin it.</p><p>Hopefully, Alibaba will still be the Alibaba of yesteryear.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/xK0KaAUqcA__RSAp-Fwq0Q\"> 丫丫港股圈</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b6144783fb942d6493c55cf38d87bfdd","relate_stocks":{"09988":"阿里巴巴-W","BABA":"阿里巴巴"},"source_url":"https://mp.weixin.qq.com/s/xK0KaAUqcA__RSAp-Fwq0Q","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1113831198","content_text":"26年前，杭州明珠电视台在马路上做了一个小测试，他们请人假装偷井盖，看看有多少人会见义勇为，对这种违法行为say no。\n最后，通过测试的只有一个人，就是马云。\n4年之后的1999年，热心群众马云带领他的十八罗汉，成立阿里巴巴，随后一路披荆斩棘，成为全中国最大的零售平台。这群\"热心人\"的价值观，也被沉淀为六脉神剑，一句话总结就是：一群有情有义的人，在一起做一件有价值有意义的事。\n时间来到了2021年，在经历了外滩金融事件、蒋凡桃色事件、阿里P8包养事件后，阿里的丑闻终于到达了顶峰：8月8日凌晨，全网爆发热搜，阿里巴巴淘鲜达华北区商家运营组组长王成文，涉嫌在一次商家饭局后，侵犯女下属。\n\n更可怕的是，出事后当事人一层层向上举报，从BU领导九戎、HR负责人悦尔、淘鲜达LKA负责人阿甘，甚至BG层面的老鼎和丁冬，没有一人意识到问题的严重性，反而是三番四次包庇，试图把事情压下来。\n这哪里是有情有义的人，明明是一群冷漠麻木的人。\n\n今日的阿里早已不是当年的阿里，即使放在资本市场上，也是如此。\n自去年10月24日外滩金融峰会以来，阿里的股价已经从高位回调接近40%。期间阿里的市值蒸发了2万亿，蚂蚁的员工也许再也无法听到财务自由的声音。\n\n股价暴跌，业绩才是主因。\n根据2020年发布的半年报，阿里营收同比增长33%，但是与此同时，经营利润和净利润分别下跌11.1%和7.7%。经营利润的下跌，主要来自两个方面：\n第一，毛利率下跌。毛利率从2020年上半年的45%，下降到不足40%；\n第二，销售费用激增。营收增速同比只有33%，销售费用却增长了接近一倍。\n\n毛利率下降和销售费用激增的原因也很明显：新零售业务。\n拆分阿里的业务，我们可以发现，营收增加的500亿，有一半来自于零售业务中的其他部分，也就是高鑫零售、天猫超市、盒马这部分。当然，也包括这一次出事的淘鲜达。\n但是增长归增长，新零售业务模式重，利润低，要拓展还要和商户谈生意、喝酒，于是导致阿里增收不增利，毛利率下降，销售费用还奇高。\n\n这也是阿里的无奈之举。目前中国的社会零售总额40万亿，其中有一部分是汽车、餐饮、生鲜等领域，留给线上电商的空间已经不大，要增长就只能切入其他领域。\n而阿里的其他业务，比如说本地生活，比如说菜鸟物流，甚至说云计算，其实在增速上都不好看，也没法对阿里的增速做出什么太大的贡献。\n要增长，只能继续依靠新零售。\n于是，市场上有声音说，这一次阿里强制女员工陪酒，高层阿甘在出事后默认甚至纵容，是因为阿里拓展业务压力大，不这样做，业务就谈不下来。\n为了增长，所以才有陪酒事件。\n但是我想问，会不会刚好反过来，是因为阿里的文化烂了，业务上增长才如此不堪呢？\n这几年不是没有风口，但是阿里这几年的新业务，基本就没怎么好过。\n外卖领域，饿了么长期被美团压着打；\n社团团购，美团、拼多多高歌猛进，今年美团、多多大约可以达到5000万单/日的规模，而盒马总是慢一拍；\n投资方面，腾讯投资的拼多多、SEA、B站股价都在去年创新高，阿里投资的公司如虾米音乐、苏宁易购、优酷，一个个的都在走下坡。\n具体文化有没有影响业务，我们也无法得知，不过我们看到的是。\n内部管理上，从去年的蒋凡张大奕，到令人诟病的破冰活动，到前阵子阿里P8包养应聘者，再到这次让人忍无可忍的陪酒事件，阿里仿佛从高层到低层，都有问题。\n业绩上，老业务严重依赖电商，同时还增长乏力；新业务里面，新零售增收不增利，就连云计算增速也够不着核心增速。\n业绩一般，管理又出了问题，现在的阿里除了光辉的历史，还有什么？\n当然，还有时代，时代还没有抛弃阿里，电商还是阿里的现金牛。但是，假如时代也抛弃阿里，那么阿里离雅虎、诺基亚，也许并不遥远。\n结语\n众所周知，马云是一个武侠迷，特别崇拜金庸，所以阿里内部也有\"花名\"文化，阿里入职第一件事，就是给自己起一个花名。马云自己的花名是\"风清扬\"，出自《笑傲江湖》，因为他是一个优秀的老师。\n\n但是不知道马云有没有看清楚，金庸笔下的，除了武侠，还有江湖。\n比如说全真教，曾经盛极一时，创始人王重阳奋起抗金，加之教旨行侠仗义，被誉为\"天下武学正宗\"。\n然而到了后期，全真教扩招太快，人数空前膨胀，加之赵志敬、尹志平管理不力，上梁不正下梁歪，教徒素质参差不齐，全真教开始腐朽，最终走向衰落。\n同样从兴到衰的故事，在丐帮等大帮派里，也发生过。\n it takes years to build a reputation and minutes to ruin it.\n希望阿里还是当年的阿里。","news_type":1,"symbols_score_info":{"09988":0.9,"BABA":0.9}},"isVote":1,"tweetType":1,"viewCount":4627,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":890991720,"gmtCreate":1628073303560,"gmtModify":1703500685462,"author":{"id":"3564909256585570","authorId":"3564909256585570","name":"Fengjie","avatar":"https://static.tigerbbs.com/45987ca4f2ac62a210c20544200c49f9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564909256585570","idStr":"3564909256585570"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/NNDM\">$Nano Dimension Ltd.(NNDM)$</a>Gogogo","listText":"<a href=\"https://laohu8.com/S/NNDM\">$Nano Dimension Ltd.(NNDM)$</a>Gogogo","text":"$Nano Dimension 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09:08","market":"us","language":"zh","title":"With a whopping $50 billion investment, will Intel finally gain the key to victory?","url":"https://stock-news.laohu8.com/highlight/detail?id=1110672156","media":"半导体行业观察","summary":"入职不到六个月， 英特尔公司首席执行官Pat Gelsinger重振这家芯片制造商命运的方法正在浮现：那就是迅速行动，并携带大额支票簿。\n当 Gelsinger 在 2 月份接替Bob Swan担任英","content":"<p>Less than six months into the job,<a href=\"https://laohu8.com/S/INTC\">Intel</a>CEO Pat Gelsinger's method for reviving the chipmaker's fortunes is emerging: act quickly and carry a large checkbook.</p><p>When Gelsinger succeeded Bob Swan as Intel CEO in February, the chip giant was suffering from years of process delays, and a major concern for analysts and investors was whether the company would abandon chip manufacturing and focus on design. This approach is suitable for competitors Nvidia and<a href=\"https://laohu8.com/S/AMD\">AMD</a>This brought huge returns, giving them the ability to erode Intel's market share.</p><p>Mr. Gelsinger's answer was actually a strong \"no\". He promised that Intel would not only manufacture its own semiconductors, but also become a so-called contract manufacturer, manufacturing chips for others—he would undertake a financial commitment of more than $50 billion if Intel's exploratory negotiations to acquire chip manufacturing expert GlobalFoundries were successful. According to a Wall Street Journal report on Thursday, Intel is considering an acquisition of GlobalFoundries valued at approximately $30 billion.</p><p>If it goes through, it would be Intel's largest acquisition ever, almost double their largest deal to date. In 2015, Intel spent approximately $16.7 billion to acquire microprocessor manufacturer Altera Corp.</p><p>Just over a month after assuming Intel's top job, Gelsinger pledged that Intel would invest $20 billion in its chip factory in Arizona. Less than two months later, he added another $3.5 billion in expansion plans in New Mexico. Intel's CEO has stated that further financial commitments are in the works both in the United States and overseas.</p><p>Since joining, Mr. Gelsinger has vowed that Intel's best days are just around the corner. However, he also emphasized that the company needs to restore its reputation for reliable performance and act quickly to bring back engineering talent to fulfill this promise.</p><p>Sometimes, Mr. Gelsinger is outspoken about past mistakes. Intel had previously tried to become a third-party chipmaker, but with little success. “Our initial efforts were somewhat weak,” he said, adding, “We didn’t really leave ourselves behind.”</p><p>Wedbush Securities analyst Matt Bryson said that acquiring GlobalFoundries could give Intel the key to success. “Because in the past, one of the concerns people had about Intel was that they didn’t really know how to act as a foundry,” he said. “GlobalFoundries will provide them with a broader and more mature range of production capacity.”</p><p>Earlier on Friday, Intel shares rose 1.51%.</p><p>The global chip shortage has rarely brought the previously almost unknown semiconductor production into the spotlight. The demand for laptops has skyrocketed, and new ways of working have increased the demand for cloud computing services and the data centers running on them. One of the chips in surging demand is the introduction of new 5G phones, which has increased the squeeze on manufacturing capacity, chip companies say. Due to a lack of chips, automakers have had to idle their factories, so the prices of some electronic products are rising.</p><p>The shortage has become a topic of conversation in Washington, D.C., and other global capitals. President Biden has pledged approximately $50 billion to boost domestic chip manufacturing. Europe has also made a similar commitment.</p><p>Intel is betting that the chip boom will continue.</p><p>Mr. Gelsinger has stated that by 2025, the wafer foundry business, which manufactures chips for others, should become a market worth hundreds of billions of dollars. He has already won over customers, including his own competitors, to use his wafer foundry business, such as Qualcomm and Amazon.com.</p><p>Intel is racing to grow and protect the business.</p><p>Taiwan Semiconductor Manufacturing Co., Ltd., the world's largest contract chipmaker, said in April that it would invest $100 billion over the next three years to increase production capacity to cope with surging demand.  <a href=\"https://laohu8.com/S/SSNLF\">Samsung Electronics</a>The company plans to spend approximately $116 billion by 2030 to diversify and increase its semiconductor output, and it is considering investing $17 billion to build a new chip manufacturing plant in the United States.</p><p>Counterpoint Research Indicates,<a href=\"https://laohu8.com/S/TSM\">TSMC</a>Last year, it accounted for approximately 59% of the global third-party chip manufacturing market.<a href=\"https://laohu8.com/S/SMSN.UK\">Samsung</a>It accounts for 14%.</p><p>Although Intel is catching up, Mr. Gelsinger is turning to TSMC and Samsung to help manufacture components for the most advanced chips that they cannot produce internally.</p><p>Stacy Rasgon, an analyst at Sanford Bernstein & Co., doubts whether the acquisition of GlobalFoundries will help Intel turn a profit. “This is a huge sum of money for marginal players in the industry,” he said, calling such a deal “a distraction for Intel.”</p><p>Strengthening Intel's chip manufacturing division is only part of Mr. Gelsinger's plan. Another is to ensure that the company continuously designs cutting-edge chips to amaze customers. “We have a lot of work to do,” Mr. Gelsinger said earlier this year.</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>With a whopping $50 billion investment, will Intel finally gain the key to victory?</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\">\nWith a whopping $50 billion investment, will Intel finally gain the key to victory?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1099700132\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/705285f8deea4d7b8e48df7848a67868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">半导体行业观察 </p>\n<p class=\"h-time smaller\">2021-07-17 09:08</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Less than six months into the job,<a href=\"https://laohu8.com/S/INTC\">Intel</a>CEO Pat Gelsinger's method for reviving the chipmaker's fortunes is emerging: act quickly and carry a large checkbook.</p><p>When Gelsinger succeeded Bob Swan as Intel CEO in February, the chip giant was suffering from years of process delays, and a major concern for analysts and investors was whether the company would abandon chip manufacturing and focus on design. This approach is suitable for competitors Nvidia and<a href=\"https://laohu8.com/S/AMD\">AMD</a>This brought huge returns, giving them the ability to erode Intel's market share.</p><p>Mr. Gelsinger's answer was actually a strong \"no\". He promised that Intel would not only manufacture its own semiconductors, but also become a so-called contract manufacturer, manufacturing chips for others—he would undertake a financial commitment of more than $50 billion if Intel's exploratory negotiations to acquire chip manufacturing expert GlobalFoundries were successful. According to a Wall Street Journal report on Thursday, Intel is considering an acquisition of GlobalFoundries valued at approximately $30 billion.</p><p>If it goes through, it would be Intel's largest acquisition ever, almost double their largest deal to date. In 2015, Intel spent approximately $16.7 billion to acquire microprocessor manufacturer Altera Corp.</p><p>Just over a month after assuming Intel's top job, Gelsinger pledged that Intel would invest $20 billion in its chip factory in Arizona. Less than two months later, he added another $3.5 billion in expansion plans in New Mexico. Intel's CEO has stated that further financial commitments are in the works both in the United States and overseas.</p><p>Since joining, Mr. Gelsinger has vowed that Intel's best days are just around the corner. However, he also emphasized that the company needs to restore its reputation for reliable performance and act quickly to bring back engineering talent to fulfill this promise.</p><p>Sometimes, Mr. Gelsinger is outspoken about past mistakes. Intel had previously tried to become a third-party chipmaker, but with little success. “Our initial efforts were somewhat weak,” he said, adding, “We didn’t really leave ourselves behind.”</p><p>Wedbush Securities analyst Matt Bryson said that acquiring GlobalFoundries could give Intel the key to success. “Because in the past, one of the concerns people had about Intel was that they didn’t really know how to act as a foundry,” he said. “GlobalFoundries will provide them with a broader and more mature range of production capacity.”</p><p>Earlier on Friday, Intel shares rose 1.51%.</p><p>The global chip shortage has rarely brought the previously almost unknown semiconductor production into the spotlight. The demand for laptops has skyrocketed, and new ways of working have increased the demand for cloud computing services and the data centers running on them. One of the chips in surging demand is the introduction of new 5G phones, which has increased the squeeze on manufacturing capacity, chip companies say. Due to a lack of chips, automakers have had to idle their factories, so the prices of some electronic products are rising.</p><p>The shortage has become a topic of conversation in Washington, D.C., and other global capitals. President Biden has pledged approximately $50 billion to boost domestic chip manufacturing. Europe has also made a similar commitment.</p><p>Intel is betting that the chip boom will continue.</p><p>Mr. Gelsinger has stated that by 2025, the wafer foundry business, which manufactures chips for others, should become a market worth hundreds of billions of dollars. He has already won over customers, including his own competitors, to use his wafer foundry business, such as Qualcomm and Amazon.com.</p><p>Intel is racing to grow and protect the business.</p><p>Taiwan Semiconductor Manufacturing Co., Ltd., the world's largest contract chipmaker, said in April that it would invest $100 billion over the next three years to increase production capacity to cope with surging demand.  <a href=\"https://laohu8.com/S/SSNLF\">Samsung Electronics</a>The company plans to spend approximately $116 billion by 2030 to diversify and increase its semiconductor output, and it is considering investing $17 billion to build a new chip manufacturing plant in the United States.</p><p>Counterpoint Research Indicates,<a href=\"https://laohu8.com/S/TSM\">TSMC</a>Last year, it accounted for approximately 59% of the global third-party chip manufacturing market.<a href=\"https://laohu8.com/S/SMSN.UK\">Samsung</a>It accounts for 14%.</p><p>Although Intel is catching up, Mr. Gelsinger is turning to TSMC and Samsung to help manufacture components for the most advanced chips that they cannot produce internally.</p><p>Stacy Rasgon, an analyst at Sanford Bernstein & Co., doubts whether the acquisition of GlobalFoundries will help Intel turn a profit. “This is a huge sum of money for marginal players in the industry,” he said, calling such a deal “a distraction for Intel.”</p><p>Strengthening Intel's chip manufacturing division is only part of Mr. Gelsinger's plan. Another is to ensure that the company continuously designs cutting-edge chips to amaze customers. “We have a lot of work to do,” Mr. Gelsinger said earlier this year.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c74be4c2a08964ef2daf32217f693b44","relate_stocks":{"03086":"华夏纳指","09086":"华夏纳指-U","INTC":"英特尔"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1110672156","content_text":"入职不到六个月， 英特尔公司首席执行官Pat Gelsinger重振这家芯片制造商命运的方法正在浮现：那就是迅速行动，并携带大额支票簿。\n当 Gelsinger 在 2 月份接替Bob Swan担任英特尔CEO时，这家芯片巨头正在遭受工艺多年延误的影响，分析师和投资者的一个重大关注点是该公司是否会放弃芯片生产并专注于设计。这种方法为竞争对手Nvidia 和AMD带来了巨额回报，让他们有能力蚕食英特尔的市场份额。\nGelsinger 先生的回答实际上是一个强有力的“不”。他承诺英特尔不仅要制造自己的半导体，还要成为所谓的代工厂，为他人制造芯片——如果英特尔收购芯片制造专家 GlobalFoundries 的探索性谈判达成，他将承担超过 500 亿美元的财务承诺。据《华尔街日报》周四报道称，英特尔正在考虑对GlobalFoundries 发起估值约为 300 亿美元的收购。\n如果成行，这将是英特尔有史以来最大的一笔收购，几乎是他们迄今为止最大一笔交易的两倍。在 2015 年，英特尔曾斥资约167 亿美元收购微处理器制造商Altera Corp.。\nGelsinger 在担任英特尔最高职位仅一个多月后，他就承诺英特尔将在亚利桑那州的芯片工厂投资 200 亿美元。不到两个月后，他又在新墨西哥增加了 35 亿美元的扩张计划。英特尔首席执行官曾表示，更多的财务承诺在美国和海外都在筹划中。\nGelsinger 先生自加入以来就发誓，英特尔最好的日子就在眼前。但他也强调公司需要恢复其可靠性能的声誉，并迅速采取行动，带回工程人才以兑现这一承诺。\n有时，Gelsinger 先生对过去的失误直言不讳。英特尔之前曾尝试成为第三方芯片制造商，但收效甚微。“我们最初的努力有些薄弱，”他说，并补充道，“我们并没有真正把自己抛在后面。”\nWedbush Securities 分析师Matt Bryson)表示，收购 GlobalFoundries可以让英特尔获得成功的诀窍。“因为在过去，大家对英特尔的担忧之一是他们并不真正知道如何充当代工厂，”他说。“GlobalFoundries 将为他们提供一系列更广泛、更成熟的产能。”\n周五早些时候，英特尔股价上涨了 1.51%。\n全球芯片短缺已经很少把以前几乎默默无闻的半导体生产推到聚光灯前。对笔记本电脑的需求猛增，新的工作方式增加了对云计算服务和运行在它们上面的数据中心的需求。一个在需求激增的芯片是进入新的5G手机增加了对制造能力的挤压，芯片公司说。由于缺乏芯片，汽车制造商不得不闲置工厂，因此一些电子产品的价格正在上涨。\n短缺已成为华盛顿特区和其他全球首都的话题。拜登总统已承诺斥资约 500 亿美元促进国内芯片制造。欧洲也表示了类似的承诺。\n英特尔押注芯片热潮将持续下去。\nGelsinger 先生曾表示，到2025年，为别人生产芯片的晶圆代工业务应该会成为一个千亿美元的市场，他已经拉拢包括自己竞争对手在内的客户使用他们的晶圆代工业务，当中包括 高通公司 和Amazon.com公司。\n英特尔正在竞相发展和保护该业务。\n世界上最大的合同芯片制造商台湾半导体制造有限公司在四月表示，公司将在未来三年内投入千亿美元，提高生产能力以应对激增的需求。 三星电子公司 计划到2030年花费约1160亿美元，多样化并提高其半导体输出，并且它正在考虑在美国投资170亿美元建立一个新的芯片制造工厂。\nCounterpoint Research 表示，台积电去年占据全球第三方芯片制造市场约 59% 的份额，三星占 14%。\n尽管英特尔正在追赶，但Gelsinger 先生正在求助于台积电和三星，以帮助制造其内部无法生产的最尖端芯片的部件。\nSanford Bernstein & Co. 的分析师 Stacy Rasgon 怀疑收购 GlobalFoundries 是否有助于英特尔的扭亏为盈。“对于该行业的边缘参与者来说，这是一笔巨款，”他说，称这样的交易“让英特尔分心”。\n加强英特尔的芯片生产部门只是 Gelsinger 先生计划的一部分。另一个是确保公司不断设计尖端芯片来让客户惊叹。“我们有很多工作要做，”Gelsinger 先生今年早些时候说。","news_type":1,"symbols_score_info":{"INTC":0.9,"03086":0.9,"09086":0.9}},"isVote":1,"tweetType":1,"viewCount":4342,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179239170,"gmtCreate":1626530196090,"gmtModify":1703761495718,"author":{"id":"3564909256585570","authorId":"3564909256585570","name":"Fengjie","avatar":"https://static.tigerbbs.com/45987ca4f2ac62a210c20544200c49f9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564909256585570","idStr":"3564909256585570"},"themes":[],"title":"","htmlText":"Gogogo&nbsp;","listText":"Gogogo&nbsp;","text":"Gogogo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/179239170","repostId":"1119821926","repostType":4,"isVote":1,"tweetType":1,"viewCount":4483,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":147220494,"gmtCreate":1626360170218,"gmtModify":1703758701470,"author":{"id":"3564909256585570","authorId":"3564909256585570","name":"Fengjie","avatar":"https://static.tigerbbs.com/45987ca4f2ac62a210c20544200c49f9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564909256585570","idStr":"3564909256585570"},"themes":[],"title":"","htmlText":"Hao&nbsp;","listText":"Hao&nbsp;","text":"Hao","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/147220494","repostId":"1198312362","repostType":4,"repost":{"id":"1198312362","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":1626358810,"share":"https://ttm.financial/m/news/1198312362?lang=en_US&edition=fundamental","pubTime":"2021-07-15 22:20","market":"us","language":"zh","title":"AMC Cinemas rose more than 10%","url":"https://stock-news.laohu8.com/highlight/detail?id=1198312362","media":"老虎资讯综合","summary":"周四，AMC院线涨超10%，此前连跌四个交易日。","content":"<p>Thursday,<a href=\"https://laohu8.com/S/AMC\">AMC Cinemas</a>It rose more than 10%, after falling for four consecutive trading days.</p><p><img src=\"https://static.tigerbbs.com/087d82cb0bf74303d22cde74c22348a9\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC Cinemas rose more than 10%</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\">\nAMC Cinemas rose more than 10%\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-07-15 22:20</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Thursday,<a href=\"https://laohu8.com/S/AMC\">AMC Cinemas</a>It rose more than 10%, after falling for four consecutive trading days.</p><p><img src=\"https://static.tigerbbs.com/087d82cb0bf74303d22cde74c22348a9\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/8192c8eaeb6611e7fdd25666e604395c","relate_stocks":{"AMC":"AMC院线"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198312362","content_text":"周四，AMC院线涨超10%，此前连跌四个交易日。","news_type":1,"symbols_score_info":{"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":4489,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144191544,"gmtCreate":1626270786288,"gmtModify":1703756782581,"author":{"id":"3564909256585570","authorId":"3564909256585570","name":"Fengjie","avatar":"https://static.tigerbbs.com/45987ca4f2ac62a210c20544200c49f9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564909256585570","idStr":"3564909256585570"},"themes":[],"title":"","htmlText":"Great","listText":"Great","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/144191544","repostId":"2151519705","repostType":4,"repost":{"id":"2151519705","kind":"highlight","pubTimestamp":1626267651,"share":"https://ttm.financial/m/news/2151519705?lang=en_US&edition=fundamental","pubTime":"2021-07-14 21:00","market":"us","language":"zh","title":"Media reports indicate Saudi Arabia and the UAE have reached a production agreement.","url":"https://stock-news.laohu8.com/highlight/detail?id=2151519705","media":"华尔街见闻","summary":"OPEC+代表表示，阿联酋已经化解了主要产油国们的僵局，并达成了一项折衷协议，重新制定了石油产量。","content":"<p>According to Bloomberg, on July 14, OPEC+ representatives stated that Saudi Arabia and the UAE had reached a compromise on an oil production agreement.</p><p>The UAE has agreed to a plan to raise baseline production, setting a new oil production baseline of 3.65 million barrels per day starting in May 2022, up from the current 3.17 million barrels per day, thus resolving the OPEC deadlock.</p><p>OPEC+ representatives also stated that OPEC+ will soon determine the date for a new meeting, and its agreement will be extended until the end of 2022.</p><p>Following the announcement, oil prices showed a clear downward trend followed by a rebound.</p><p><img src=\"https://static.tigerbbs.com/f19df3b1315c539cccb4d7e94f4eae71\" tg-width=\"500\" tg-height=\"262\" referrerpolicy=\"no-referrer\"></p><p>Brent crude oil fell briefly, dropping as much as 1% intraday, before rebounding quickly. As of 20:13 Beijing time, it was trading at $76.42 per barrel.</p><p><img src=\"https://static.tigerbbs.com/65074f62cc44e2b6efbdaf019b4b5f31\" tg-width=\"929\" tg-height=\"608\" referrerpolicy=\"no-referrer\"></p><p>Wall Street Insights previously mentioned that as oil prices continue to rise, major oil-producing countries such as Saudi Arabia and the UAE have not yet resolved their differences, and OPEC+ canceled its oil production policy meeting originally scheduled for last Monday.</p><p>The breakdown of OPEC+ negotiations means that current production limits will remain in place until August, potentially leading to more severe supply shortages.</p><p>Last week, OPEC and its allies were forced to abandon a preliminary agreement to temporarily increase production due to last-minute objections from the UAE.</p><p>If the new compromise is approved at the new meeting, it could increase oil production, even though some member states have largely set supply levels for August.</p><p>Ed Morse, head of commodity research at Citigroup, pointed out that oil prices will continue to fluctuate. Even if OPEC decides to increase production in August, this oil will not reach refineries for supply until after the peak demand period ends in August.</p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Media reports indicate Saudi Arabia and the UAE have reached a production agreement.</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\">\nMedia reports indicate Saudi Arabia and the UAE have reached a production agreement.\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\">2021-07-14 21:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>According to Bloomberg, on July 14, OPEC+ representatives stated that Saudi Arabia and the UAE had reached a compromise on an oil production agreement.</p><p>The UAE has agreed to a plan to raise baseline production, setting a new oil production baseline of 3.65 million barrels per day starting in May 2022, up from the current 3.17 million barrels per day, thus resolving the OPEC deadlock.</p><p>OPEC+ representatives also stated that OPEC+ will soon determine the date for a new meeting, and its agreement will be extended until the end of 2022.</p><p>Following the announcement, oil prices showed a clear downward trend followed by a rebound.</p><p><img src=\"https://static.tigerbbs.com/f19df3b1315c539cccb4d7e94f4eae71\" tg-width=\"500\" tg-height=\"262\" referrerpolicy=\"no-referrer\"></p><p>Brent crude oil fell briefly, dropping as much as 1% intraday, before rebounding quickly. As of 20:13 Beijing time, it was trading at $76.42 per barrel.</p><p><img src=\"https://static.tigerbbs.com/65074f62cc44e2b6efbdaf019b4b5f31\" tg-width=\"929\" tg-height=\"608\" referrerpolicy=\"no-referrer\"></p><p>Wall Street Insights previously mentioned that as oil prices continue to rise, major oil-producing countries such as Saudi Arabia and the UAE have not yet resolved their differences, and OPEC+ canceled its oil production policy meeting originally scheduled for last Monday.</p><p>The breakdown of OPEC+ negotiations means that current production limits will remain in place until August, potentially leading to more severe supply shortages.</p><p>Last week, OPEC and its allies were forced to abandon a preliminary agreement to temporarily increase production due to last-minute objections from the UAE.</p><p>If the new compromise is approved at the new meeting, it could increase oil production, even though some member states have largely set supply levels for August.</p><p>Ed Morse, head of commodity research at Citigroup, pointed out that oil prices will continue to fluctuate. Even if OPEC decides to increase production in August, this oil will not reach refineries for supply until after the peak demand period ends in August.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3635405\">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/80c13588f559343a96ce06d72d3cf4d5","relate_stocks":{"DUG":"二倍做空石油与天然气ETF(ProShares)","DDG":"ProShares做空石油与天然气ETF","UCO":"二倍做多彭博原油ETF","DWT":"三倍做空原油ETN","USO":"美国原油ETF","SCO":"二倍做空彭博原油指数ETF"},"source_url":"https://wallstreetcn.com/articles/3635405","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2151519705","content_text":"据彭博报道，7月14日，OPEC+代表表示，沙特和阿联酋就石油生产协议已经达成妥协。\n阿联酋同意提高基线产量的计划，从2022年5月开始，把新的石油产量基线定在365万桶/日，高于目前的317万桶/日，就此化解了OPEC僵局。\nOPEC+代表还表示，OPEC+将很快确定举办新会议的日期，其协议将延长至2022年底。\n消息公布后，油价出现了一个明显的下跌又反弹的趋势。\n\n布伦特原油短线下挫，日内跌幅一度达1%，后又迅速反弹。截至北京时间20:13，报76.42美元/桶。\n\n华尔街见闻此前提及，随着油价不断攀升，沙特和阿联酋等主要产油国仍未化解分歧，OPEC+取消了原定上周一举行的产油政策会议。\nOPEC+谈判的破裂意味着目前的产量限制将维持到8月份，可能会导致更严重的供应短缺。\n上周，由于阿联酋最后一刻提出反对，OPEC及其盟友被迫放弃了一项临时增产的初步协议。\n如果新的折衷方案在新的会议上获得批准，可能会提高石油产量，尽管一些成员国已经基本确定了8月份的供应量。\n花旗集团商品研究主管Ed Morse指出，油价将继续波动。即使OPEC决定在8月提高产量，这些石油也要在8月份的需求高峰期结束后才能到达炼油厂进入供应环节。","news_type":1,"symbols_score_info":{"CLmain":0.9,"DDG":0.9,"UCO":0.9,"SCO":0.9,"DUG":0.9,"BZmain":0.9,"DWTIF":0.9,"QMmain":0.9,"DWT":0.9,"UWTIF":0.9,"USO":0.9}},"isVote":1,"tweetType":1,"viewCount":4503,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148400986,"gmtCreate":1625997393245,"gmtModify":1703751785093,"author":{"id":"3564909256585570","authorId":"3564909256585570","name":"Fengjie","avatar":"https://static.tigerbbs.com/45987ca4f2ac62a210c20544200c49f9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564909256585570","idStr":"3564909256585570"},"themes":[],"title":"","htmlText":"Gogogo","listText":"Gogogo","text":"Gogogo","images":[{"img":"https://static.tigerbbs.com/44b8da1347515de53455268b61129869","width":"750","height":"2316"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/148400986","isVote":1,"tweetType":1,"viewCount":1839,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":140290985,"gmtCreate":1625659144547,"gmtModify":1703745794335,"author":{"id":"3564909256585570","authorId":"3564909256585570","name":"Fengjie","avatar":"https://static.tigerbbs.com/45987ca4f2ac62a210c20544200c49f9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564909256585570","idStr":"3564909256585570"},"themes":[],"title":"","htmlText":"Gogogog","listText":"Gogogog","text":"Gogogog","images":[{"img":"https://static.tigerbbs.com/20bc4e07a0c4fb397b28ff11f263d4b9","width":"750","height":"2496"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/140290985","isVote":1,"tweetType":1,"viewCount":1814,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":140207565,"gmtCreate":1625659106857,"gmtModify":1703745794011,"author":{"id":"3564909256585570","authorId":"3564909256585570","name":"Fengjie","avatar":"https://static.tigerbbs.com/45987ca4f2ac62a210c20544200c49f9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564909256585570","idStr":"3564909256585570"},"themes":[],"title":"","htmlText":"Gogogo","listText":"Gogogo","text":"Gogogo","images":[{"img":"https://static.tigerbbs.com/ff2e749b121b225e60c1718f19c551ab","width":"750","height":"2496"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/140207565","isVote":1,"tweetType":1,"viewCount":1747,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":154812458,"gmtCreate":1625496861374,"gmtModify":1703742721228,"author":{"id":"3564909256585570","authorId":"3564909256585570","name":"Fengjie","avatar":"https://static.tigerbbs.com/45987ca4f2ac62a210c20544200c49f9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564909256585570","idStr":"3564909256585570"},"themes":[],"title":"","htmlText":"Huat","listText":"Huat","text":"Huat","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/154812458","repostId":"1185149852","repostType":4,"repost":{"id":"1185149852","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":1625484548,"share":"https://ttm.financial/m/news/1185149852?lang=en_US&edition=fundamental","pubTime":"2021-07-05 19:29","market":"us","language":"zh","title":"Cryptocurrencies fall collectively, Bitcoin falls below $34,000/coin","url":"https://stock-news.laohu8.com/highlight/detail?id=1185149852","media":"老虎资讯综合","summary":"周一，主要加密货币大幅下挫。截至发稿，比特币失守34000美元/枚，日内跌幅达4.27%。以太坊短线走低60美元，现报2239美元/枚。","content":"<p>Major cryptocurrencies fell sharply on Monday. As of press time, Bitcoin fell to $34,000/piece, with an intraday decline of 4.27%. Ethereum is $60 lower in the short term and now trades at $2,239/coin.</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>Cryptocurrencies fall collectively, Bitcoin falls below $34,000/coin</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\">\nCryptocurrencies fall collectively, Bitcoin falls below $34,000/coin\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-07-05 19:29</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Major cryptocurrencies fell sharply on Monday. As of press time, Bitcoin fell to $34,000/piece, with an intraday decline of 4.27%. Ethereum is $60 lower in the short term and now trades at $2,239/coin.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/2b6ee35d5e3953381b46896042cc8e62","relate_stocks":{"EZBC":"比特币ETF-Franklin","BITB":"比特币ETF-Bitwise","BTCO":"比特币ETF-Invesco Galaxy","ARKB":"比特币ETF-21Shares","BTCW":"比特币ETF-Wisdom Tree","GBTC":"比特币ETF-Grayscale","BRRR":"比特币ETF-CoinShares","IBIT":"比特币ETF-iShares","FBTC":"比特币ETF-Fidelity","DEFI":"比特币期货ETF-Hashdex","HODL":"比特币ETF-VanEck"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185149852","content_text":"周一，主要加密货币大幅下挫。截至发稿，比特币失守34000美元/枚，日内跌幅达4.27%。以太坊短线走低60美元，现报2239美元/枚。","news_type":1,"symbols_score_info":{"FBTC":1,"IBIT":1,"BRRR":1,"DEFI":1,"HODL":1,"EZBC":1,"BTCW":1,"BITB":1,"BTCmain":0.9,"BTCO":1,"ARKB":1,"GBTC":0.9}},"isVote":1,"tweetType":1,"viewCount":1534,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":158354020,"gmtCreate":1625131620660,"gmtModify":1703736773989,"author":{"id":"3564909256585570","authorId":"3564909256585570","name":"Fengjie","avatar":"https://static.tigerbbs.com/45987ca4f2ac62a210c20544200c49f9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564909256585570","idStr":"3564909256585570"},"themes":[],"title":"","htmlText":"Gogogo","listText":"Gogogo","text":"Gogogo","images":[{"img":"https://static.tigerbbs.com/98a01130124d990f8b78506bed08b4be","width":"750","height":"2376"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/158354020","isVote":1,"tweetType":1,"viewCount":1889,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":153778317,"gmtCreate":1625054511739,"gmtModify":1703734940155,"author":{"id":"3564909256585570","authorId":"3564909256585570","name":"Fengjie","avatar":"https://static.tigerbbs.com/45987ca4f2ac62a210c20544200c49f9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564909256585570","idStr":"3564909256585570"},"themes":[],"title":"","htmlText":"<a 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Corp(CLOV)$gogo","images":[{"img":"https://static.tigerbbs.com/58e55f43a4f3d9fbea18007237df366f","width":"750","height":"1300"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/153778317","isVote":1,"tweetType":1,"viewCount":2020,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":122114904,"gmtCreate":1624603725308,"gmtModify":1703841515863,"author":{"id":"3564909256585570","authorId":"3564909256585570","name":"Fengjie","avatar":"https://static.tigerbbs.com/45987ca4f2ac62a210c20544200c49f9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564909256585570","idStr":"3564909256585570"},"themes":[],"title":"","htmlText":"gogogogo","listText":"gogogogo","text":"gogogogo","images":[{"img":"https://static.tigerbbs.com/8abcc9c32d172f80502a4384636cc6d1","width":"750","height":"1843"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/122114904","isVote":1,"tweetType":1,"viewCount":1583,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":128758656,"gmtCreate":1624533431075,"gmtModify":1703839586883,"author":{"id":"3564909256585570","authorId":"3564909256585570","name":"Fengjie","avatar":"https://static.tigerbbs.com/45987ca4f2ac62a210c20544200c49f9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564909256585570","idStr":"3564909256585570"},"themes":[],"title":"","htmlText":"<a 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href=\"https://laohu8.com/S/RBLX\">$Roblox Corporation(RBLX)$</a>Gohogog","listText":"<a href=\"https://laohu8.com/S/RBLX\">$Roblox Corporation(RBLX)$</a>Gohogog","text":"$Roblox Corporation(RBLX)$Gohogog","images":[{"img":"https://static.tigerbbs.com/a77c12b2b91050005ce6b7638fa89505","width":"750","height":"1300"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/167557464","isVote":1,"tweetType":1,"viewCount":1493,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":167555440,"gmtCreate":1624279195580,"gmtModify":1703832244377,"author":{"id":"3564909256585570","authorId":"3564909256585570","name":"Fengjie","avatar":"https://static.tigerbbs.com/45987ca4f2ac62a210c20544200c49f9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564909256585570","idStr":"3564909256585570"},"themes":[],"title":"","htmlText":"Gigogo","listText":"Gigogo","text":"Gigogo","images":[{"img":"https://static.tigerbbs.com/61c2c1cc4d9470b4cc36507795ce8dcd","width":"750","height":"1843"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/167555440","isVote":1,"tweetType":1,"viewCount":1285,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"hots":[{"id":194394039,"gmtCreate":1621340926421,"gmtModify":1704356049230,"author":{"id":"3564909256585570","authorId":"3564909256585570","name":"Fengjie","avatar":"https://static.tigerbbs.com/45987ca4f2ac62a210c20544200c49f9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564909256585570","idStr":"3564909256585570"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/MOGO\">$Mogo Finance Technology Inc.(MOGO)$</a>gogoggogog","listText":"<a href=\"https://laohu8.com/S/MOGO\">$Mogo Finance Technology Inc.(MOGO)$</a>gogoggogog","text":"$Mogo Finance Technology Inc.(MOGO)$gogoggogog","images":[{"img":"https://static.tigerbbs.com/ca728f6783a9e02c6746da2ca477e364","width":"750","height":"1300"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":1,"link":"https://ttm.financial/post/194394039","isVote":1,"tweetType":1,"viewCount":1576,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":323051867,"gmtCreate":1615292096959,"gmtModify":1704780687140,"author":{"id":"3564909256585570","authorId":"3564909256585570","name":"Fengjie","avatar":"https://static.tigerbbs.com/45987ca4f2ac62a210c20544200c49f9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564909256585570","idStr":"3564909256585570"},"themes":[],"title":"","htmlText":"J","listText":"J","text":"J","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/323051867","repostId":"2117069532","repostType":4,"repost":{"id":"2117069532","kind":"news","pubTimestamp":1615290203,"share":"https://ttm.financial/m/news/2117069532?lang=en_US&edition=fundamental","pubTime":"2021-03-09 19:43","market":"hk","language":"zh","title":"Why is crossover car building on fire in 2021?","url":"https://stock-news.laohu8.com/highlight/detail?id=2117069532","media":"探客Tanker  ","summary":"忽然间，新能源汽车成了香饽饽。\n如果算上2020年最后一个月，短短3个半月的时间内，已经有超过6家科技或制造业巨头传出即将或已经开始涉足汽车制造的相关新闻。\n最新的一则消息来自于小米。\n春节过后第一周","content":"<p>Suddenly, new energy vehicles have become hot cakes.</p><p>If you count the last month of 2020, in just three and a half months, more than six technology or manufacturing giants have already reported related news that they are about to or have begun to get involved in automobile manufacturing.</p><p>The latest news comes from Xiaomi.</p><p>In the first week after the Spring Festival, before many people recovered from the exhaustion of the long holiday, many media reported that,<a href=\"https://laohu8.com/S/46816\">Xiaomi Group</a>It has been determined to build a car and regards it as a strategic decision. The car building project will be personally led by Lei Jun, the founder of Xiaomi Group.</p><p>Although Xiaomi officially issued an announcement denying the news, saying that the research has not yet reached the official project establishment stage, the company has raised its research and concern about car building to a very high level, so this news has also aroused widespread concern.</p><p>Almost at the same time that Xiaomi was rumored to be building a car,<a href=\"https://laohu8.com/S/AAPL\">Apple</a>The company is also on the car-building rumor list. At the beginning of January, foreign media broke the news that,<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Will work with South Korea<a href=\"https://laohu8.com/S/HYUD.UK\">Hyundai Motor</a>Cooperation, and it is expected to sign relevant cooperation agreements this year. In addition, related news also pointed out that Apple Car has been tested on the road in California, USA, and the new Car may be officially mass-produced in 2024.</p><p>What's more interesting is that a week after Apple's car-building incident was exposed by the media as \"real hammer\", Foxconn, as Apple's loyal OEM partner, also reported that it was about to get involved in new energy vehicle manufacturing.</p><p>In that week, it was first reported that Foxconn injected $200 million into Byton, which was already in a shutdown state, to revitalize Byton and accelerate the landing and production of its first mass-produced car, Byton M-Byte electric vehicle. Subsequently, Foxconn and<a href=\"https://laohu8.com/S/00175\">Geely Automobile</a>Established a joint venture company, each holding 50% equity, to provide OEM and customized consultancy services to global automobile and mobility enterprises.</p><p>Notably, Foxconn's joint venture with Geely will hold<a href=\"https://laohu8.com/S/RACE\">Ferrari</a>The controlling stake of the future company, it is said that this company has selected the site of the landing production plant in China.</p><p>Among the traditional domestic Internet giants BAT, two have already set foot in the manufacturing of new energy vehicles. November 2020, by<a href=\"https://laohu8.com/S/600104\">SAIC Group</a>Pudong New Area and<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>High-end of 10 billion \"Big Mac\" project jointly built by the three parties of the Group<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Pure electric vehicle project \"Zhiji Automobile\" officially launched and announced its settlement in Zhangjiang, Pudong New Area<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Campus; January 11, 2021,<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Announced its entry into the automotive industry as an OEM manufacturer, formally forming a smart car company.</p><p>Even at this year's Consumer Electronics Show in North America, traditional consumer electronics giants<a href=\"https://laohu8.com/S/SNE\">Sony</a>It also came up with its own car-building plan, and indicated that it is likely that a real car will be listed in 2021.</p><p>……</p><p>There are signs that the car-making market, which was originally regarded as a high entry threshold in the professional field, is about to face a new round of crazy influx of cross-border players.</p><p>These new players are not short of funds and market appeal, and their cross-border marketing theories summarized from their successful experiences in their respective fields are likely to cause a dimensionality reduction blow to the traditional automobile industry giants.</p><p>Therefore, the German Bild newspaper reported that after hearing that Apple was about to enter the field of car manufacturing, Volkswagen urgently held a board meeting to discuss the decision. And Volkswagen's latest mass-produced electric model was introduced to the market in less than a month and a half.</p><p>This is seen as the countermeasure of the traditional auto industry giants.</p><p>But to the surprise of many people, why has it become the entry point for technology giants to build cars across the border?</p><p>1. The magic of \"one-click turnkey\"</p><p>Before this large-scale cross-border car building, the consumer electronics field that the last giant crossed into was mobile phones. Therefore, to understand the current popularity of cross-border car manufacturing, we should start with the mobile phone chip market in 2011.</p><p>At that time, the rise of 3G technology and the layout of 4G networks boosted the formation of the global smart mobile phone market. Noticing this trend, MediaTek, which was famous for its communication equipment solution adopted by many knockoff mobile phone manufacturers before 2010, increased its investment in the field of mobile phone chips.</p><p>In the 2G field, MediaTek once had a very mature market scheme, that is, all products covered by its own technical strength were integrated on one circuit board, including communication control, sound and voice noise reduction and other functions. Mobile phone manufacturers who purchased MediaTek product packages can produce their own mobile phones as soon as possible by connecting to the screen and adapting the relevant software interfaces.</p><p>This is known as \"turnkey project\" within MediaTek. It is precisely because of MediaTek's killer move that its chip shipments caught up around 2010<a href=\"https://laohu8.com/S/QCOM\">Qualcomm</a>Once became the world's largest mobile phone chip system supplier.</p><p>After the emergence of smart phones, MediaTek extended the \"turnkey project\" to the smart phone module, and formed MediaTek's own mobile phone chip \"key bag\" by integrating communication baseband, mobile phone master control chip and multimedia control chip.</p><p>Then came the rapid expansion of the smartphone manufacturing system. In just one year, MediaTek's products were used and installed in more than 1,500 smartphones.</p><p>In response to MediaTek's competition,<a href=\"https://laohu8.com/S/QCOM\">Qualcomm</a>We also have to transform the original logic of selling separate chips into a \"one-click turnkey\" product system and sales logic.</p><p>This is the famous \"MediaTek vs. Qualcomm\" incident in the early stage of smart phone development. Interestingly, the two sides of this war did not decide the winner. Instead, intel, which still keeps the traditional chip authorized production mode, has been squeezed out of the mobile phone chip market.</p><p>The gradual maturity of this model has also made the number of manufacturers crossing the border into the field of mobile phone production surge. The reason is that the core control and communication functions of mobile phones have been packaged into modular systems by MediaTek or Qualcomm, which can be produced with one click turnkey. The screen and camera of mobile phones have also been introduced by related enterprises with reference to this theory and logic.</p><p>accompany<a href=\"https://laohu8.com/S/GOOG\">Google</a>The increasing maturity of Android system finally created a pattern of a hundred schools of thought fighting in the mobile phone market in 2013.</p><p>And history is a process that keeps on repeating.</p><p>Huawei, which is deeply influenced by MediaTek's turnkey chip production system, not only gritted its teeth to come up with Kirin chip and its own system module in the later stage, and regained the lead in the mobile phone and communication market, but also took the lead in the industry to use this theory to put forward a complete set of turnkey vehicle-machine integration systems for the manufacture of new energy vehicles.</p><p>Several other manufacturers in the automobile industry have accumulated more or less related technologies, and the news of similar systems going on the market broke one after another during this time period.</p><p>The logic is that the maturity of technology will definitely bring down the difficulty of production, and it will definitely make cross-border car manufacturing gradually become a hot spot in the market.</p><p>2. Maturity of technical foundation</p><p>On October 30, 2020, at the domestic conference of Huawei Mate40 series, which has attracted much attention, Wang Jun, president of Huawei Smart Car Solutions BU, announced the official release of Huawei Smart Car Solutions brand HI, aiming to build intelligent networked electric vehicles through in-depth cooperation with car companies through Huawei's full-stack smart car solutions.</p><p>This scheme includes a brand-new computing and communication architecture and five intelligent systems (namely intelligent driving, intelligent cockpit, intelligent electric, intelligent network connection and intelligent car cloud), as well as a complete set of intelligent components such as lidar and AR-HUD. Simply put, Huawei's technology covers many fields such as hardware and software, which is quite different from the previously known Internet of Vehicles products of Internet companies such as BAT, which mainly focus on software.</p><p>More importantly, HI high-order autonomous driving ADS in Huawei's car manufacturing technology system is based on L4 autonomous driving architecture, providing full-stack solutions (including sensors, central supercomputing and algorithms) for L4 to L2+ autonomous driving. In addition, it also has machine self-learning technology.</p><p>Just when the outside world thought that Huawei's car-machine system was still in the laboratory stage, in January 2021, Huawei invited well-known automobile experts in the industry to visit the related equipment production line. Mr. Liu of the Automobile Battery Industry Alliance of the Ministry of Industry and Information Technology privately revealed to Tanker that Huawei's car-machine system is very mature. \"Unlike all automakers' car-making, Huawei's system is particularly similar to the operation mode in the communication field, encapsulating various systems into different modules.\"</p><p>In his view, Huawei's operation draws on its previous market competitive advantage in the field of communication. \"The benefits are very obvious. Manufacturers who use this technology to build cars can be put into trial production in a quarter if they are skilled.\" He feels that Huawei's smart car solution has completely reduced the difficulty of manufacturing new energy vehicles by more than one level.</p><p>Not only that, the combination of software and hardware in this system released by Huawei, whether it is assisted intelligent driving, vehicle-machine combination, or even the independent upgrade of Internet operation, Huawei covers it all one by one. In his view, \"even lidar, Huawei's pre-research is in place, and the cost of lidar has been hit below 100 dollars as soon as it is taken.\"</p><p>Therefore, after the launch of Huawei's whole car manufacturing system, there was quick news that several new energy car manufacturing brands wanted to cooperate with Huawei to launch related models.</p><p>First, Jihu, a new brand built by BAIC New Energy with heavy investment, and ARCFOX HBT, which is newly equipped with Huawei's smart car solution, will be unveiled and delivered in 2021. Some experts in the industry told Tanker that this new model was developed in cooperation with BAIC, which adopted a complete set of software and hardware solutions of Huawei's smart car, with L4-level autonomous driving capability, and it took no more than three months from the confirmation of cooperation to the implementation of the model design.</p><p><a href=\"https://laohu8.com/S/000625\">Changan Automobile</a>It is rumored that a model will be customized for Huawei, but it has been refuted. The only thing that can be confirmed is that the cooperation between the two sides has already started, and Huawei's car-machine system will land on the newly launched cars in Changan this year.</p><p>Of course, Huawei's modular automobile manufacturing technology system has already emerged in the production field of original new energy automobile parts.</p><p>For example, the battery that ranks first in China<a href=\"https://laohu8.com/S/300750\">CATL</a>The most profitable business is not to sell to<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Packaged batteries, but new energy vehicle power battery packs that have already formed large-scale production. The so-called power battery pack is to package and close the power battery, control template, software system and power output control chip together, forming a component that can be modularized and put on the bus at any time.</p><p>For example, the motor drive systems and control programs of several core motor manufacturers have basically been packaged. If you add<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>It is no longer news that the technological integration of intelligent car-machine management system and unmanned operating system launched by several giants, Ali and Huawei, has reduced the difficulty of manufacturing new energy vehicles from the software level.</p><p>Therefore, Huawei's modular new energy vehicle manufacturing system seems to be a black technology, but in fact, it is just a model integration of domestic new energy vehicle technology.</p><p>In the face of the huge market demand introduced by the continuous subsidies of the state, on the one hand, the price of power batteries has shown a cliff-like decline. In 2020, the price of 1 kWh ternary lithium battery is less than 15% of that in 2018, which has already indicated the arrival of the mature era of new energy vehicle production capacity; On the other hand, the huge market demand has promoted the modular exploration and technology research and development of various auto parts manufacturers, and by 2021, the accumulation of these technologies has completely become the driving force of cross-border car manufacturing boom.</p><p>After all, all kinds of mature modular solutions can be bought from suppliers, and several major platforms have launched vehicle-machine systems with intelligent driving and unmanned driving technologies. Cross-border enterprises have solved most of the problems of building cars.</p><p>Once the technical problems are solved, their experience in expanding the market in their own fields will gain an advantage in the marketing after building cars in the future.</p><p>This is also a prerequisite for the current round of cross-border car manufacturing fever.</p><p>3. Expectations of market and capital</p><p>There is another background for the flock of cross-border players, that is, the new energy vehicle market is too hot.</p><p>According to the data released by China Passenger Car Association, the retail sales volume of new energy passenger vehicles in January 2021 was 158,000 units, representing a year-on-year increase of 281.4% and a month-on-month decrease of 23.9%; Wholesale sales volume was 168,000 units, up 290.6% year-on-year and 20.5% month-on-month.</p><p>Among them, new car-making forces contributed greatly to the year-on-year growth of new energy vehicle sales in January.<a href=\"https://laohu8.com/S/NIO\">Nio</a>Automobile sales volume in January was 7,225 units, up 352.1% year-on-year;<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Sales volume was 5,379 units, representing a year-on-year increase of 355.8%;<a href=\"https://laohu8.com/S/XPEV\">XPeng Motors</a>Sales volume was 6,015 units, representing a year-on-year increase of 470%;<a href=\"https://laohu8.com/S/002594\">BYD</a>Sales of new energy models in January amounted to 19,871 units, representing a year-on-year increase of 183.1%.</p><p>Looking back on the past year, new energy vehicles have soared rapidly. Global sales of new energy vehicles increased by 36% compared with the same period of 2019, and domestic sales of new energy vehicles reached 1.36 million, an increase of 13% compared with 1.2 million in 2019, setting a record high.</p><p>According to the requirements of the New Energy Vehicle Industry Development Plan (2021-2035) issued by the State Council, the sales volume of new energy vehicles will reach 20% of the total sales volume of new vehicles in 2025. This means that even if the overall car sales no longer grow, according to the sales scale in 2019, the market size of new energy vehicles in 2025 will exceed 5 million units, which is about five times the current size.</p><p>It is not surprising that the scale of new energy vehicles will increase from 1.3 million to 5 million in five years. The huge market gap in the middle has attracted many people to covet it.</p><p>Therefore, since last year<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>、<a href=\"https://laohu8.com/S/NIO\">Nio</a>Ideal and Xiaopeng staged one carnival after another. The soaring stock price and the wild market value show the capital market's favor for new energy vehicle concept stocks.</p><p>On January 28, Tesla announced its fourth quarter 2020 results. According to the financial report, as of the fourth quarter of 2020, Tesla was profitable for six consecutive quarters and achieved its first \"profitable year\" since its inception. In 2020, Tesla's stock rose 743%, making it the world's No. 1 car company by market capitalization. Musk, CEO of the company, once became the richest man in the world with his soaring stock.</p><p>As China's new car-making force, the total market value of Nio once surpassed<a href=\"https://laohu8.com/S/0P6N.UK\">Volkswagen Group</a>Ranked third in the world, with share price growth of more than 1800% year-over-year; XPeng and ideal market value have also rushed into the top 20.</p><p>The global capital market is optimistic about new energy vehicles. Therefore, the expectations and demands of the capital market are important reasons why more and more cross-border players want to enter the field of car manufacturing.</p><p>For example, Xiaomi. Although the official notice denied the relevant rumors, Xiaomi's announcement also left a \"tail\", indicating that his idea of building a car still exists.</p><p>The reason is simple. Although Xiaomi is a well-known mobile phone manufacturer in China, it is still sparing no effort to expand its mobile phone market share. However, because the vast majority of Xiaomi's mobile phones are at the low-end and the profit margin is not high, the performance of Xiaomi's stock and market value in the capital market has not met the expectations of investors.</p><p>Nio, which was established only 6 years ago, almost caught up with Xiaomi in market value, and Lei Jun's embarrassment is obvious.</p><p>The influx of most capital in the stock market needs a reason. Therefore, under the background that everyone is optimistic about the manufacturing of new energy vehicles, Xiaomi also wants to take advantage of this opportunity to expand its LOT industry chain and coverage cluster, and at the same time expand new business growth points. This is actually the fundamental reason why Xiaomi reported the news of car manufacturing.</p><p>On the day of the news, Xiaomi Group's Hong Kong stocks were affected by this, and their volume rose in late trading. The increase once expanded to 12%, with a market value of more than HK$ 810 billion, rising by nearly HK$ 90 billion in seconds. In early trading, Xiaomi Group once plummeted by 4%. At the close, it was still up a sharp 6.42%.</p><p>This has already illustrated the attitude of capital towards Xiaomi's car building.</p><p>In fact, several other technology giants who exposed car-building news have more or less the same background and reasons as Xiaomi. It is not so much that the management team has chosen the cross-border market of car building as the position of the next round of competition, but rather that the investors behind it have delineated the direction of their future development.</p><p>However, there are almost fundamental differences between the original markets of these technology giants and the current car-making market to cross-border entry. This also leaves the new round of cross-border competition with endless suspense.</p><p>Perhaps, 2021 is the critical moment to open the door to a new market for new energy vehicles.</p>","source":"lsy1607830729945","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>Why is crossover car building on fire in 2021?</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\">\nWhy is crossover car building on fire in 2021?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">探客Tanker  </strong><span class=\"h-time small\">2021-03-09 19:43</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Suddenly, new energy vehicles have become hot cakes.</p><p>If you count the last month of 2020, in just three and a half months, more than six technology or manufacturing giants have already reported related news that they are about to or have begun to get involved in automobile manufacturing.</p><p>The latest news comes from Xiaomi.</p><p>In the first week after the Spring Festival, before many people recovered from the exhaustion of the long holiday, many media reported that,<a href=\"https://laohu8.com/S/46816\">Xiaomi Group</a>It has been determined to build a car and regards it as a strategic decision. The car building project will be personally led by Lei Jun, the founder of Xiaomi Group.</p><p>Although Xiaomi officially issued an announcement denying the news, saying that the research has not yet reached the official project establishment stage, the company has raised its research and concern about car building to a very high level, so this news has also aroused widespread concern.</p><p>Almost at the same time that Xiaomi was rumored to be building a car,<a href=\"https://laohu8.com/S/AAPL\">Apple</a>The company is also on the car-building rumor list. At the beginning of January, foreign media broke the news that,<a href=\"https://laohu8.com/S/AAPL\">Apple</a>Will work with South Korea<a href=\"https://laohu8.com/S/HYUD.UK\">Hyundai Motor</a>Cooperation, and it is expected to sign relevant cooperation agreements this year. In addition, related news also pointed out that Apple Car has been tested on the road in California, USA, and the new Car may be officially mass-produced in 2024.</p><p>What's more interesting is that a week after Apple's car-building incident was exposed by the media as \"real hammer\", Foxconn, as Apple's loyal OEM partner, also reported that it was about to get involved in new energy vehicle manufacturing.</p><p>In that week, it was first reported that Foxconn injected $200 million into Byton, which was already in a shutdown state, to revitalize Byton and accelerate the landing and production of its first mass-produced car, Byton M-Byte electric vehicle. Subsequently, Foxconn and<a href=\"https://laohu8.com/S/00175\">Geely Automobile</a>Established a joint venture company, each holding 50% equity, to provide OEM and customized consultancy services to global automobile and mobility enterprises.</p><p>Notably, Foxconn's joint venture with Geely will hold<a href=\"https://laohu8.com/S/RACE\">Ferrari</a>The controlling stake of the future company, it is said that this company has selected the site of the landing production plant in China.</p><p>Among the traditional domestic Internet giants BAT, two have already set foot in the manufacturing of new energy vehicles. November 2020, by<a href=\"https://laohu8.com/S/600104\">SAIC Group</a>Pudong New Area and<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>High-end of 10 billion \"Big Mac\" project jointly built by the three parties of the Group<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Pure electric vehicle project \"Zhiji Automobile\" officially launched and announced its settlement in Zhangjiang, Pudong New Area<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>Campus; January 11, 2021,<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Announced its entry into the automotive industry as an OEM manufacturer, formally forming a smart car company.</p><p>Even at this year's Consumer Electronics Show in North America, traditional consumer electronics giants<a href=\"https://laohu8.com/S/SNE\">Sony</a>It also came up with its own car-building plan, and indicated that it is likely that a real car will be listed in 2021.</p><p>……</p><p>There are signs that the car-making market, which was originally regarded as a high entry threshold in the professional field, is about to face a new round of crazy influx of cross-border players.</p><p>These new players are not short of funds and market appeal, and their cross-border marketing theories summarized from their successful experiences in their respective fields are likely to cause a dimensionality reduction blow to the traditional automobile industry giants.</p><p>Therefore, the German Bild newspaper reported that after hearing that Apple was about to enter the field of car manufacturing, Volkswagen urgently held a board meeting to discuss the decision. And Volkswagen's latest mass-produced electric model was introduced to the market in less than a month and a half.</p><p>This is seen as the countermeasure of the traditional auto industry giants.</p><p>But to the surprise of many people, why has it become the entry point for technology giants to build cars across the border?</p><p>1. The magic of \"one-click turnkey\"</p><p>Before this large-scale cross-border car building, the consumer electronics field that the last giant crossed into was mobile phones. Therefore, to understand the current popularity of cross-border car manufacturing, we should start with the mobile phone chip market in 2011.</p><p>At that time, the rise of 3G technology and the layout of 4G networks boosted the formation of the global smart mobile phone market. Noticing this trend, MediaTek, which was famous for its communication equipment solution adopted by many knockoff mobile phone manufacturers before 2010, increased its investment in the field of mobile phone chips.</p><p>In the 2G field, MediaTek once had a very mature market scheme, that is, all products covered by its own technical strength were integrated on one circuit board, including communication control, sound and voice noise reduction and other functions. Mobile phone manufacturers who purchased MediaTek product packages can produce their own mobile phones as soon as possible by connecting to the screen and adapting the relevant software interfaces.</p><p>This is known as \"turnkey project\" within MediaTek. It is precisely because of MediaTek's killer move that its chip shipments caught up around 2010<a href=\"https://laohu8.com/S/QCOM\">Qualcomm</a>Once became the world's largest mobile phone chip system supplier.</p><p>After the emergence of smart phones, MediaTek extended the \"turnkey project\" to the smart phone module, and formed MediaTek's own mobile phone chip \"key bag\" by integrating communication baseband, mobile phone master control chip and multimedia control chip.</p><p>Then came the rapid expansion of the smartphone manufacturing system. In just one year, MediaTek's products were used and installed in more than 1,500 smartphones.</p><p>In response to MediaTek's competition,<a href=\"https://laohu8.com/S/QCOM\">Qualcomm</a>We also have to transform the original logic of selling separate chips into a \"one-click turnkey\" product system and sales logic.</p><p>This is the famous \"MediaTek vs. Qualcomm\" incident in the early stage of smart phone development. Interestingly, the two sides of this war did not decide the winner. Instead, intel, which still keeps the traditional chip authorized production mode, has been squeezed out of the mobile phone chip market.</p><p>The gradual maturity of this model has also made the number of manufacturers crossing the border into the field of mobile phone production surge. The reason is that the core control and communication functions of mobile phones have been packaged into modular systems by MediaTek or Qualcomm, which can be produced with one click turnkey. The screen and camera of mobile phones have also been introduced by related enterprises with reference to this theory and logic.</p><p>accompany<a href=\"https://laohu8.com/S/GOOG\">Google</a>The increasing maturity of Android system finally created a pattern of a hundred schools of thought fighting in the mobile phone market in 2013.</p><p>And history is a process that keeps on repeating.</p><p>Huawei, which is deeply influenced by MediaTek's turnkey chip production system, not only gritted its teeth to come up with Kirin chip and its own system module in the later stage, and regained the lead in the mobile phone and communication market, but also took the lead in the industry to use this theory to put forward a complete set of turnkey vehicle-machine integration systems for the manufacture of new energy vehicles.</p><p>Several other manufacturers in the automobile industry have accumulated more or less related technologies, and the news of similar systems going on the market broke one after another during this time period.</p><p>The logic is that the maturity of technology will definitely bring down the difficulty of production, and it will definitely make cross-border car manufacturing gradually become a hot spot in the market.</p><p>2. Maturity of technical foundation</p><p>On October 30, 2020, at the domestic conference of Huawei Mate40 series, which has attracted much attention, Wang Jun, president of Huawei Smart Car Solutions BU, announced the official release of Huawei Smart Car Solutions brand HI, aiming to build intelligent networked electric vehicles through in-depth cooperation with car companies through Huawei's full-stack smart car solutions.</p><p>This scheme includes a brand-new computing and communication architecture and five intelligent systems (namely intelligent driving, intelligent cockpit, intelligent electric, intelligent network connection and intelligent car cloud), as well as a complete set of intelligent components such as lidar and AR-HUD. Simply put, Huawei's technology covers many fields such as hardware and software, which is quite different from the previously known Internet of Vehicles products of Internet companies such as BAT, which mainly focus on software.</p><p>More importantly, HI high-order autonomous driving ADS in Huawei's car manufacturing technology system is based on L4 autonomous driving architecture, providing full-stack solutions (including sensors, central supercomputing and algorithms) for L4 to L2+ autonomous driving. In addition, it also has machine self-learning technology.</p><p>Just when the outside world thought that Huawei's car-machine system was still in the laboratory stage, in January 2021, Huawei invited well-known automobile experts in the industry to visit the related equipment production line. Mr. Liu of the Automobile Battery Industry Alliance of the Ministry of Industry and Information Technology privately revealed to Tanker that Huawei's car-machine system is very mature. \"Unlike all automakers' car-making, Huawei's system is particularly similar to the operation mode in the communication field, encapsulating various systems into different modules.\"</p><p>In his view, Huawei's operation draws on its previous market competitive advantage in the field of communication. \"The benefits are very obvious. Manufacturers who use this technology to build cars can be put into trial production in a quarter if they are skilled.\" He feels that Huawei's smart car solution has completely reduced the difficulty of manufacturing new energy vehicles by more than one level.</p><p>Not only that, the combination of software and hardware in this system released by Huawei, whether it is assisted intelligent driving, vehicle-machine combination, or even the independent upgrade of Internet operation, Huawei covers it all one by one. In his view, \"even lidar, Huawei's pre-research is in place, and the cost of lidar has been hit below 100 dollars as soon as it is taken.\"</p><p>Therefore, after the launch of Huawei's whole car manufacturing system, there was quick news that several new energy car manufacturing brands wanted to cooperate with Huawei to launch related models.</p><p>First, Jihu, a new brand built by BAIC New Energy with heavy investment, and ARCFOX HBT, which is newly equipped with Huawei's smart car solution, will be unveiled and delivered in 2021. Some experts in the industry told Tanker that this new model was developed in cooperation with BAIC, which adopted a complete set of software and hardware solutions of Huawei's smart car, with L4-level autonomous driving capability, and it took no more than three months from the confirmation of cooperation to the implementation of the model design.</p><p><a href=\"https://laohu8.com/S/000625\">Changan Automobile</a>It is rumored that a model will be customized for Huawei, but it has been refuted. The only thing that can be confirmed is that the cooperation between the two sides has already started, and Huawei's car-machine system will land on the newly launched cars in Changan this year.</p><p>Of course, Huawei's modular automobile manufacturing technology system has already emerged in the production field of original new energy automobile parts.</p><p>For example, the battery that ranks first in China<a href=\"https://laohu8.com/S/300750\">CATL</a>The most profitable business is not to sell to<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Packaged batteries, but new energy vehicle power battery packs that have already formed large-scale production. The so-called power battery pack is to package and close the power battery, control template, software system and power output control chip together, forming a component that can be modularized and put on the bus at any time.</p><p>For example, the motor drive systems and control programs of several core motor manufacturers have basically been packaged. If you add<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>It is no longer news that the technological integration of intelligent car-machine management system and unmanned operating system launched by several giants, Ali and Huawei, has reduced the difficulty of manufacturing new energy vehicles from the software level.</p><p>Therefore, Huawei's modular new energy vehicle manufacturing system seems to be a black technology, but in fact, it is just a model integration of domestic new energy vehicle technology.</p><p>In the face of the huge market demand introduced by the continuous subsidies of the state, on the one hand, the price of power batteries has shown a cliff-like decline. In 2020, the price of 1 kWh ternary lithium battery is less than 15% of that in 2018, which has already indicated the arrival of the mature era of new energy vehicle production capacity; On the other hand, the huge market demand has promoted the modular exploration and technology research and development of various auto parts manufacturers, and by 2021, the accumulation of these technologies has completely become the driving force of cross-border car manufacturing boom.</p><p>After all, all kinds of mature modular solutions can be bought from suppliers, and several major platforms have launched vehicle-machine systems with intelligent driving and unmanned driving technologies. Cross-border enterprises have solved most of the problems of building cars.</p><p>Once the technical problems are solved, their experience in expanding the market in their own fields will gain an advantage in the marketing after building cars in the future.</p><p>This is also a prerequisite for the current round of cross-border car manufacturing fever.</p><p>3. Expectations of market and capital</p><p>There is another background for the flock of cross-border players, that is, the new energy vehicle market is too hot.</p><p>According to the data released by China Passenger Car Association, the retail sales volume of new energy passenger vehicles in January 2021 was 158,000 units, representing a year-on-year increase of 281.4% and a month-on-month decrease of 23.9%; Wholesale sales volume was 168,000 units, up 290.6% year-on-year and 20.5% month-on-month.</p><p>Among them, new car-making forces contributed greatly to the year-on-year growth of new energy vehicle sales in January.<a href=\"https://laohu8.com/S/NIO\">Nio</a>Automobile sales volume in January was 7,225 units, up 352.1% year-on-year;<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Sales volume was 5,379 units, representing a year-on-year increase of 355.8%;<a href=\"https://laohu8.com/S/XPEV\">XPeng Motors</a>Sales volume was 6,015 units, representing a year-on-year increase of 470%;<a href=\"https://laohu8.com/S/002594\">BYD</a>Sales of new energy models in January amounted to 19,871 units, representing a year-on-year increase of 183.1%.</p><p>Looking back on the past year, new energy vehicles have soared rapidly. Global sales of new energy vehicles increased by 36% compared with the same period of 2019, and domestic sales of new energy vehicles reached 1.36 million, an increase of 13% compared with 1.2 million in 2019, setting a record high.</p><p>According to the requirements of the New Energy Vehicle Industry Development Plan (2021-2035) issued by the State Council, the sales volume of new energy vehicles will reach 20% of the total sales volume of new vehicles in 2025. This means that even if the overall car sales no longer grow, according to the sales scale in 2019, the market size of new energy vehicles in 2025 will exceed 5 million units, which is about five times the current size.</p><p>It is not surprising that the scale of new energy vehicles will increase from 1.3 million to 5 million in five years. The huge market gap in the middle has attracted many people to covet it.</p><p>Therefore, since last year<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>、<a href=\"https://laohu8.com/S/NIO\">Nio</a>Ideal and Xiaopeng staged one carnival after another. The soaring stock price and the wild market value show the capital market's favor for new energy vehicle concept stocks.</p><p>On January 28, Tesla announced its fourth quarter 2020 results. According to the financial report, as of the fourth quarter of 2020, Tesla was profitable for six consecutive quarters and achieved its first \"profitable year\" since its inception. In 2020, Tesla's stock rose 743%, making it the world's No. 1 car company by market capitalization. Musk, CEO of the company, once became the richest man in the world with his soaring stock.</p><p>As China's new car-making force, the total market value of Nio once surpassed<a href=\"https://laohu8.com/S/0P6N.UK\">Volkswagen Group</a>Ranked third in the world, with share price growth of more than 1800% year-over-year; XPeng and ideal market value have also rushed into the top 20.</p><p>The global capital market is optimistic about new energy vehicles. Therefore, the expectations and demands of the capital market are important reasons why more and more cross-border players want to enter the field of car manufacturing.</p><p>For example, Xiaomi. Although the official notice denied the relevant rumors, Xiaomi's announcement also left a \"tail\", indicating that his idea of building a car still exists.</p><p>The reason is simple. Although Xiaomi is a well-known mobile phone manufacturer in China, it is still sparing no effort to expand its mobile phone market share. However, because the vast majority of Xiaomi's mobile phones are at the low-end and the profit margin is not high, the performance of Xiaomi's stock and market value in the capital market has not met the expectations of investors.</p><p>Nio, which was established only 6 years ago, almost caught up with Xiaomi in market value, and Lei Jun's embarrassment is obvious.</p><p>The influx of most capital in the stock market needs a reason. Therefore, under the background that everyone is optimistic about the manufacturing of new energy vehicles, Xiaomi also wants to take advantage of this opportunity to expand its LOT industry chain and coverage cluster, and at the same time expand new business growth points. This is actually the fundamental reason why Xiaomi reported the news of car manufacturing.</p><p>On the day of the news, Xiaomi Group's Hong Kong stocks were affected by this, and their volume rose in late trading. The increase once expanded to 12%, with a market value of more than HK$ 810 billion, rising by nearly HK$ 90 billion in seconds. In early trading, Xiaomi Group once plummeted by 4%. At the close, it was still up a sharp 6.42%.</p><p>This has already illustrated the attitude of capital towards Xiaomi's car building.</p><p>In fact, several other technology giants who exposed car-building news have more or less the same background and reasons as Xiaomi. It is not so much that the management team has chosen the cross-border market of car building as the position of the next round of competition, but rather that the investors behind it have delineated the direction of their future development.</p><p>However, there are almost fundamental differences between the original markets of these technology giants and the current car-making market to cross-border entry. This also leaves the new round of cross-border competition with endless suspense.</p><p>Perhaps, 2021 is the critical moment to open the door to a new market for new energy vehicles.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://36kr.com/p/1129493245234434\">探客Tanker  </a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/edb5904d62b10798f760277be625646d","relate_stocks":{"300750":"宁德时代","000625":"长安汽车","NIO":"蔚来"},"source_url":"https://36kr.com/p/1129493245234434","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2117069532","content_text":"忽然间，新能源汽车成了香饽饽。\n如果算上2020年最后一个月，短短3个半月的时间内，已经有超过6家科技或制造业巨头传出即将或已经开始涉足汽车制造的相关新闻。\n最新的一则消息来自于小米。\n春节过后第一周，在很多人还没有从长假的疲惫中缓过神来，就有多家媒体报道称，小米集团已确定造车，并视其为战略级决策，造车项目将由小米集团创始人雷军亲自带队。\n虽然之后小米官方发布了公告否认该消息，称该研究还未到正式立项阶段，但公司将对造车的研究和关切提升到了很高的程度，因此这一消息也引起了普遍关注。\n几乎在小米被传言造车消息的同时，苹果公司也上了造车传言榜。1月初有外媒爆料表示，苹果将与韩国现代汽车展开合作，并有望在今年签署相关合作协议。此外，相关消息还指出Apple Car已经在美国加州上路测试，新车或在2024年正式量产。\n更有意思的是，在苹果造车事件被媒体曝出“实锤”的一周后，作为苹果忠实代工伙伴的富士康，也传出即将涉足新能源汽车制造的消息。\n就在那一周内，首先传出的是富士康为已经处在停产状态的拜腾汽车注入2亿美元，盘活拜腾，加速其首款量产车拜腾M-Byte电动车落地和生产。随后，富士康与吉利汽车成立合资公司，双方各持股50%，为全球汽车及出行企业提供代工生产及定制顾问服务。\n值得注意的是，富士康与吉利的合资公司将持有法拉利未来公司的控股权，据称这家公司已经在国内挑选落地生产厂的厂址。\n而国内互联网传统巨头BAT中，就已经有两家涉足新能源汽车制造。2020年11月，由上汽集团、浦东新区和阿里巴巴集团三方联合打造的百亿级“巨无霸”项目高端智能纯电汽车项目“智己汽车”正式启动，宣布落户浦东新区张江智能园区；2021年1月11日，百度宣布以整车制造商的身份进军汽车行业，正式组建一家智能汽车公司。\n甚至在今年北美电子消费展上，传统消费电子巨头索尼也拿出了自己的造车方案，并且表明很可能2021年就有实车上市。\n……\n种种迹象表明，原本被认作是专业领域进入门槛极高的造车市场，即将面临新一轮跨界玩家疯狂涌入。\n这些新入场的玩家不缺资金和市场号召力，而他们从各自领域成功经验中总结出的跨界营销理论，很可能会对传统汽车产业巨头造成降维打击。\n因此，德国图片报的报道显示，听闻苹果即将进入造车领域，大众公司紧急召开董事会商讨应对决策。而大众最新的量产电动车型，就在不到一个半月的时间内推向了市场。\n这被看作是传统汽车产业巨头的应对之策。\n但让很多人意外的是，为什么当下成为了科技巨头跨界造车的切入点？\n1、“一键交钥匙”的魔力\n在这次大规模跨界造车之前，上一个巨头跨界进入的消费电子领域是手机。因此，要想了解当前跨界造车的走红，就要从2011年的手机芯片市场说起。\n彼时，3G技术兴起、4G网络开始布局，助推了全球智能化手机市场的形成。正是注意到这一个趋势，2010年之前因通讯设备方案被很多山寨手机厂商采用而名噪一时的联发科，加大了在手机芯片领域的投入。\n在2G领域联发科曾经有过一个非常成熟的市场方案，就是将在自身技术实力覆盖之内的所有产品全部集成在一块电路板上，包含通信控制、声音和语音降噪等功能，而购买联发科产品包的手机厂商只要连入屏幕并对相关的软件接口进行适配，就能尽快生产出自己的手机。\n这在联发科内部被称为“交钥匙工程”。也正是因为联发科这招杀手锏，使得其在2010年前后芯片出货量追上了高通，一度成为全球最大的手机芯片系统供货商。\n智能手机出现后，联发科将“交钥匙工程”延伸到了智能手机模块，通过集合通信基带和手机主控芯片以及多媒体控制芯片，形成联发科自己的手机芯片“钥匙包”。\n随后就是智能手机制造体系的迅速拓展，短短1年时间内，联发科的产品就在1500多款智能手机中被使用和安装。\n为了应对联发科的竞争，高通也不得不把原来卖单独芯片的逻辑改造成了“一键交钥匙”的产品体系和销售逻辑。\n这就是在智能手机发展初期有名的“联发科大战高通”事件。有意思的是，这场战争双方并没有分出胜负，反而将依然守着传统芯片授权生产模式的intel，挤出了手机芯片市场。\n这种模式的逐渐成熟，也让跨界进入手机生产领域的厂商激增。原因就在于手机核心的控制和通信功能已经被联发科或高通打包成了模块系统，可以一键交钥匙就能生产，而手机的屏幕、摄像头也有相关企业参照这一理论和逻辑，推出了类似的技术。\n伴随谷歌安卓系统的日益成熟，终于造就了2013年手机市场上百家争鸣的格局。\n而历史是一个不断重复的过程。\n受联发科交钥匙芯片生产系统影响颇深的华为，不光在后期咬牙搞出了麒麟芯片和自己的系统模块，重新在手机和通讯市场占得先机，且在业内率先利用这一套理论为新能源汽车的制造提出了一整套类似交钥匙的车机整合系统。\n其他几个汽车产业的制造商或多或少都有相关技术积累，也在这一时间段相继爆出类似系统上市的消息。\n其中的逻辑在于，技术上的成熟，一定会带来生产难度的下降，也一定会让跨界造车这件事逐渐成为市场的热点。\n2、技术基础的成熟\n2020年10月30日，在颇受关注的华为Mate40系列国内发布会上，华为智能汽车解决方案BU总裁王军宣布，正式发布华为智能汽车解决方案品牌HI，旨在通过华为全栈智能汽车解决方案，与车企深度合作，打造智能网联电动汽车。\n这套方案包括1个全新的计算与通信架构和5大智能系统（分别是智能驾驶、智能座舱、智能电动、智能网联和智能车云），以及激光雷达、AR-HUD等全套的智能化部件。简单来说，华为的技术囊括硬件和软件等多个领域，与此前人们熟知的BAT等互联网公司的车联网产品主要聚焦软件层面存在较大差异。\n更为关键的是，华为这套造车技术系统中HI高阶自动驾驶ADS是以L4级自动驾驶架构为基础，提供面向L4到L2+级自动驾驶全栈解决方案（包括传感器、中央超算、算法）。另外，其还有机器自我学习技术。\n就在外界以为华为这套车机系统还处于实验室阶段时，2021年1月，华为曾邀请业内知名汽车专家参观了相关设备生产线。工信部汽车电池产业联盟刘先生私下里向「探客Tanker」透露，华为这套车机系统成熟度非常高，“与所有汽车厂商的造车不同，华为这套系统特别类似通信领域的操作方式，将各种系统封装成了不同的模块。”\n在他看来，华为这种操作借鉴了以往其在通信领域的市场竞争优势，“好处非常明显，采用这种技术造车的厂商熟练一下，有一个季度就能投入试生产。”他觉得华为的智能汽车解决方案，彻底把新能源汽车制造这件事的难度降低了不止一个层次。\n不仅如此，华为发布的这套系统中软硬结合，不论是辅助智能驾驶还是车机联合，乃至于互联网操作的自主升级，华为都一一覆盖。在他看来，“甚至连激光雷达，华为的预研都已到位，而且一出手就把激光雷达的成本打到了100美金以下。”\n因此，华为的整个造车系统推出之后，迅速就传来几家新能源造车品牌纷纷要跟华为合作推出相关车型的消息。\n先是北汽新能源重金打造的新品牌极狐，全新搭载华为智能汽车解决方案的ARCFOX HBT将于2021年亮相并交付。有业内专家对「探客Tanker」表示，与北汽合作开发这款新车型，采用了华为智能汽车全套软硬件方案，具备L4级别自动驾驶能力，双方从确认合作到车型设计落地用时不超过3个月。\n长安汽车则被外界传言将为华为定制打造一个车型，但已被辟谣。唯一能确认的是，双方的合作早已展开，华为的车机系统将在今年长安新推出的汽车上落地。\n当然华为这套模块化的造车技术系统，在原有新能源汽车零部件的生产领域早已出现苗头。\n比如居于国内电池榜首的宁德时代，最挣钱的业务并不是卖给特斯拉的包装电池，而是早已形成规模化生产的新能源汽车动力电池包。所谓动力电池包就是把动力电池、控制模板、软件系统和电能输出控制芯片等打包封闭在一起，形成了可以随时模块化上车的部件。\n再比如几个核心电动机生产商的电动机驱动系统和控制程序也基本上已经封装完成。如果加上百度、阿里和华为几大巨头纷纷推出的智能汽车车机管理系统以及无人驾驶操作系统等技术集成，从软件层面降低新能源汽车制造难度早已不是什么新闻。\n因此，华为这套模块化新能源汽车造车系统看似是黑科技，其实是已有成型国内新能源汽车技术的模式集成罢了。\n而建立在国家持续补贴推出的庞大市场需求面前，一方面动力电池的价格呈现断崖式下降，2020年1千瓦时的三元锂电池价格是2018年的15%不到，这已经表示新能源汽车的产能成熟时代到来；另一方面，庞大的市场需求，推动了各家汽车配件生产企业模块化的探索和技术研发，而这些技术的积累到2021年，已经彻底变成跨界造车热潮的推手。\n毕竟，从供应商那里可以买到各种成熟的模块化解决方案，再加上几大平台推出含有智能化驾驶和无人驾驶技术的车机系统，跨界而来的企业已经解决了绝大部分造车的难题。\n而一旦技术上的难题解决了，他们在自身领域积累下来的拓展市场的经验，就会在未来造车之后的市场营销之中取得优势。\n这也是当前这轮跨界造车热的一个先决条件。\n3、市场与资本的期待\n跨界而来的玩家蜂拥而入还有一个背景，就是新能源汽车市场的过分火爆。\n中国乘联会发布的数据显示，2021年1月新能源乘用车零售销量15.8万辆，同比增长281.4%，环比下跌23.9%；批发销量16.8万辆，同比上涨290.6%，环比增长20.5%。\n其中造车新势力对1月份新能源汽车销量的同比增幅贡献较大，蔚来汽车1月销量7225辆，同比增长352.1%；理想汽车销量5379辆，同比增长355.8%；小鹏汽车销量6015辆，同比增长高达470%；比亚迪1月新能源车型销量19871辆，同比增长183.1%。\n再回顾过去一年，新能源汽车急速狂飙，全球新能源汽车销量比2019年同期增长36%，国内新能源汽车销量达到136万，同比2019年的120万增长13%，创下历史新高。\n根据国务院印发的《新能源汽车产业发展规划（2021-2035 年）》文件要求，新能源汽车新车销售量，将在2025年达到汽车新车销售总量的20%。这就意味着，即使整体的汽车销量不再增长，按照2019年的销售规模计算，新能源汽车2025年的市场规模将超过500万辆，是目前的5倍左右。\n新能源汽车5年要完成从130万增长到500万辆的规模，这中间巨大的市场缺口，引来了很多人觊觎就不足为奇了。\n因此，去年以来特斯拉、蔚来、理想和小鹏们上演着一场又一场的狂欢。飙升的股价、狂奔的市值，资本市场对新能源汽车概念股的青睐可见一斑。\n1月28日，特斯拉公布2020年第四季度业绩。财报显示，截至2020年四季度，特斯拉连续六个季度实现盈利，并实现了自成立以来的首个“盈利年”。在2020年，特斯拉股票上涨了743%，登顶全球第一大市值汽车公司。该公司CEO马斯克也凭借大涨的股票，一度成为世界首富。\n作为中国的造车新势力，蔚来的总市值也一度超越大众集团位居全球第三，股价同比增长超过1800%；小鹏、理想市值也纷纷冲进前二十。\n全球资本市场对新能源汽车看好可以说是“铁板钉钉”，因此资本市场的期许和需求，是越来越多跨界玩家想进入造车这一领域的重要原因。\n例如小米。虽然官方发通告否定了相关传闻，但小米的公告中也留了“尾巴”，表示出自己对于造车的想法依然存在。\n原因很简单。虽然小米是国内知名的手机厂商，且其仍在不遗余力拓展自己的手机市场份额。但由于绝大多数的小米手机处于中低端，利润率并不高，因此小米的股票和市值在资本市场的表现并没有达到投资人的期许。\n而成立仅6年的蔚来，市值几乎快追上小米，雷军的尴尬可见一斑。\n股市上大多数资本的涌入需要一个由头。所以，在大家都看好新能源汽车制造的背景下，小米也想利用这个机会拓展自己LOT产业链和覆盖集群，同时拓展新的业务增长点，这其实才是小米传出造车新闻的根本原因。\n新闻爆出当日，小米集团港股受此影响尾盘放量拉升，涨幅一度扩大至12%，市值超过8100亿港元，秒涨近900亿港元，而早盘小米集团一度大跌4%。截至收盘，仍大幅上涨6.42%。\n这已经说明了资本对于小米造车的态度。\n实际上，其他几家曝出造车新闻的科技巨头，或多或少都跟小米有着相同的背景和原因。与其说是管理团队选择了造车这一个跨界市场作为下一轮竞争的阵地，倒不如说是背后的投资人已经为他们划定了未来发展的方向。\n而这些科技巨头原有的市场和现在的要跨界进入的造车市场，几乎都有着根本上的差异。这也让新一轮的跨界竞争留有无穷的悬念。\n也许，2021年才是打开新能源汽车新市场大门的关键时刻。","news_type":1,"symbols_score_info":{"300750":0.9,"000625":0.9,"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":1773,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":340113289,"gmtCreate":1617354068341,"gmtModify":1704699118386,"author":{"id":"3564909256585570","authorId":"3564909256585570","name":"Fengjie","avatar":"https://static.tigerbbs.com/45987ca4f2ac62a210c20544200c49f9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564909256585570","idStr":"3564909256585570"},"themes":[],"title":"","htmlText":"<a 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href=\"https://laohu8.com/S/CLOV\">$Clover Health Corp(CLOV)$</a>gogo&nbsp;","listText":"<a href=\"https://laohu8.com/S/CLOV\">$Clover Health Corp(CLOV)$</a>gogo&nbsp;","text":"$Clover Health Corp(CLOV)$gogo","images":[{"img":"https://static.tigerbbs.com/58e55f43a4f3d9fbea18007237df366f","width":"750","height":"1300"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/153778317","isVote":1,"tweetType":1,"viewCount":2020,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":137577708,"gmtCreate":1622371556104,"gmtModify":1704183568315,"author":{"id":"3564909256585570","authorId":"3564909256585570","name":"Fengjie","avatar":"https://static.tigerbbs.com/45987ca4f2ac62a210c20544200c49f9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564909256585570","idStr":"3564909256585570"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/CPNG\">$Coupang, Inc.(CPNG)$</a>gogog","listText":"<a href=\"https://laohu8.com/S/CPNG\">$Coupang, Inc.(CPNG)$</a>gogog","text":"$Coupang, Inc.(CPNG)$gogog","images":[{"img":"https://static.tigerbbs.com/82ad7ed59823777577f735bedad0770e","width":"750","height":"1300"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/137577708","isVote":1,"tweetType":1,"viewCount":1113,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":340113411,"gmtCreate":1617354106333,"gmtModify":1704699118547,"author":{"id":"3564909256585570","authorId":"3564909256585570","name":"Fengjie","avatar":"https://static.tigerbbs.com/45987ca4f2ac62a210c20544200c49f9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564909256585570","idStr":"3564909256585570"},"themes":[],"title":"","htmlText":"gogogo","listText":"gogogo","text":"gogogo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/340113411","repostId":"1185840581","repostType":4,"isVote":1,"tweetType":1,"viewCount":1170,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":323053663,"gmtCreate":1615292018452,"gmtModify":1704780685847,"author":{"id":"3564909256585570","authorId":"3564909256585570","name":"Fengjie","avatar":"https://static.tigerbbs.com/45987ca4f2ac62a210c20544200c49f9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564909256585570","idStr":"3564909256585570"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/323053663","repostId":"1142479766","repostType":4,"repost":{"id":"1142479766","kind":"news","pubTimestamp":1615290904,"share":"https://ttm.financial/m/news/1142479766?lang=en_US&edition=fundamental","pubTime":"2021-03-09 19:55","market":"us","language":"zh","title":"February IPO Report: 40 Chinese Enterprises Achieve IPO, Aauto Quicker One Ride Juedust","url":"https://stock-news.laohu8.com/highlight/detail?id=1142479766","media":" 超越J曲线","summary":"核心发现\n2021年2月，共计40家中国企业在A股、港股以及美股成功IPO，全球市场IPO数量规模同比上升\nVC/PE机构IPO渗透率达75%，IPO账面退出回报规模高达2,387亿元，其中快手贡献近","content":"<p>Core Discovery</p><p>February 2021, total<b>40 Chinese enterprises</b>Successful IPO in A shares, Hong Kong shares and US shares, the number and scale of IPOs in the global market<b>Year-on-year increase</b></p><p>The IPO penetration rate of VC/PE institutions reached 75%, and the IPO book exit return was as high as 238.7 billion yuan, of which<b>Aauto Quicker contributed nearly 90%</b>Average book return doubled year-on-year</p><p>The top ten IPO projects in fund-raising scale are all over 1.5 billion yuan, and the top ten IPO projects in market value on that day are all over 10 billion yuan.<b>Aauto Quicker</b>With a market capitalization of 1,028,684 million yuan on the day<b>Top of the list</b></p><p>Part I:<b>Analysis of IPO Market of Chinese Enterprises</b></p><p>In February 2021, a total of 40 Chinese companies successfully launched IPOs in A-shares, Hong Kong stocks and U.S. stocks, raising a total of 72.4 billion yuan; The TOP5 companies in IPO fundraising scale this month are Aauto Quicker, Zhaoyan New Drug, Bank of Chongqing, Xintong Medical, and Shengyi Electronics; The concentrated industries of IPO are cultural media, medical and health, and manufacturing; The IPO is concentrated in Guangdong, Zhejiang and Beijing. (See Figure 1)</p><p><img src=\"https://static.tigerbbs.com/39accd93f8eac7bc807e0937eacbe03f\" tg-width=\"1080\" tg-height=\"949\" referrerpolicy=\"no-referrer\"></p><p>Figure 1 February 2021 IPO Overview</p><p><b>▼ The number of IPOs of Chinese enterprises in the global market increased year-on-year</b></p><p>In February 2021, a total of 40 Chinese companies successfully launched IPOs in A shares, Hong Kong shares and U.S. shares, with the number of IPOs increasing by 33.33% year-on-year and decreasing by 24.53% month-on-month. The total amount of fundraising was 72.4 billion yuan, and the IPO scale increased by 1.38 times year-on-year and 64.55% month-on-month. A-share market-this month, the mainland became the market with the largest number of IPOs in the global capital market, accounting for 70% of the global IPOs this month; Hong Kong stock market-This month, Hong Kong became the market with the highest IPO fund-raising scale in the global capital market, accounting for 64% of the global IPO scale this month. Now, the largest fund-raising project this month-Aauto Quicker (01024.HK); US stock market-A total of five Chinese companies have listed in the United States this month. (See Figure 2, Table 1)</p><p><img src=\"https://static.tigerbbs.com/6e62b771fb951da394af5988ba60f758\" tg-width=\"1080\" tg-height=\"675\" referrerpolicy=\"no-referrer\"></p><p>Figure 2 Size and Number of IPOs of Chinese Enterprises in the Global Market from February 2020 to February 2021</p><p><img src=\"https://static.tigerbbs.com/ebb9965680100d28eb3be89d70568a24\" tg-width=\"626\" tg-height=\"371\" referrerpolicy=\"no-referrer\"></p><p>Table 1 Statistics of Number and Scale of IPOs by Trading Segment in February 2021</p><p><b>▼ The pace of new share issuance in the A-share market slows down</b></p><p>In February 2021, a total of 28 Chinese companies made IPOs in the Shanghai and Shenzhen stock markets, with the number of IPOs increasing by 27.27% year-on-year and decreasing by 15.15% month-on-month; The total amount of fundraising was 22.9 billion yuan, and the IPO scale decreased by 13.26% year-on-year and 6.91% month-on-month. This month, the number of IPOs on the GEM of Shenzhen Stock Exchange was 10, making it the sector with the largest number of IPOs in the A-share market; The main board of Shanghai Stock Exchange raised 9.292 billion yuan, making it the sector with the highest IPO scale in the A-share market. It is worth noting that the IPO review has become stricter, and the pace of issuance has obviously slowed down. On February 5th, the CSRC issued the Guidelines for the Application of Regulatory Rules-Information Disclosure of Shareholders of Enterprises Applying for IPO Listing, which focused on strengthening the supervision of shareholders of enterprises proposing IPO.</p><p>This month, China Securities Regulatory Commission approved 18 IPO registrations on the Science and Technology Innovation Board, suspended 1 (other matters) audit, and terminated 9 audits. As of January, the number of listed companies on the Science and Technology Innovation Board reached 232. (See Figure 3, Table 2)</p><p><img src=\"https://static.tigerbbs.com/da9ced3c942bcb50f77ecca983cbebe5\" tg-width=\"1080\" tg-height=\"779\" referrerpolicy=\"no-referrer\"></p><p>Figure 3 Size and Number of IPOs of Chinese Enterprises in A-share Market from February 2020 to February 2021</p><p><img src=\"https://static.tigerbbs.com/5828c23260920495a759501b6f41848a\" tg-width=\"1080\" tg-height=\"554\" referrerpolicy=\"no-referrer\"></p><p>Table 2 TOP5 Fundraising by Chinese Enterprises in the A-share Market in February 2021</p><p><b>▼ Hong Kong stock market IPO medical and health stocks perform well</b></p><p>In February 2021, there were 7 Chinese companies IPO in Hong Kong, all of which were listed on the main board of the Hong Kong Stock Exchange. Medical and health companies occupied 5 seats, and the number of IPOs increased by 5 compared with the same period last year; The total amount of fundraising was 46 billion yuan, and the IPO scale increased by 4.68 times from the previous month. Among them, the much-watched \"first short video stock\" Aauto Quicker has an absolute advantage with a fund-raising scale of 35.056 billion yuan. In addition, medical and health companies have performed well, and Zhaoyan New Drug has become the fourth \"A + H\" CRO company in China. (See FIG. 4 and Table 3)</p><p><img src=\"https://static.tigerbbs.com/8f0d133f2bbb3c93b52bf3b782c2f517\" tg-width=\"1080\" tg-height=\"741\" referrerpolicy=\"no-referrer\"></p><p>Figure 4 Size and Number of IPOs of Chinese Enterprises in Hong Kong Stock Market from February 2020 to February 2021</p><p><img src=\"https://static.tigerbbs.com/6a23407b9881485d5751ccf300494e91\" tg-width=\"1080\" tg-height=\"573\" referrerpolicy=\"no-referrer\"></p><p>Table 3 TOP5 Fundraising by Chinese Enterprises in Hong Kong Stock Market in February 2021</p><p><b>▼ IPO boom of Chinese companies in U.S. stock market remains</b></p><p>In February 2021, a total of 5 Chinese companies made IPOs in the U.S. capital market, representing a decrease of 2 IPOs as compared with the previous month; The total amount of fundraising was 3.5 billion yuan, and the IPO scale decreased by 7.89% year-on-year and 68.75% month-on-month. On the whole, although the number and scale of IPOs have declined, popular companies such as Tuhu Car Raising, Dingdong Grocery Buying and Water Drop Chip have all gone public in the United States, and the IPO upsurge of Chinese enterprises in the United States remains the same. (See Figure 5, Table 4)</p><p><img src=\"https://static.tigerbbs.com/4339da3fe0354ee326992dbb44604653\" tg-width=\"1080\" tg-height=\"790\" referrerpolicy=\"no-referrer\"></p><p>Figure 5 Size and Number of IPOs of Chinese Enterprises in the U.S. Stock Market from February 2020 to February 2021</p><p><img src=\"https://static.tigerbbs.com/9904ca0e01974f23d093920123ba9a03\" tg-width=\"1080\" tg-height=\"574\" referrerpolicy=\"no-referrer\"></p><p>Table 4 TOP5 Fundraising by Chinese Enterprises in the U.S. Stock Market in February 2021</p><p>Part II<b>Analysis of IPO Exit of Chinese Enterprises</b></p><p><b>▼ IPO penetration rate of VC/PE institutions is as high as 75%</b></p><p>In February 2021, a total of 30 Chinese enterprises with VC/PE background were listed, and the IPO penetration rate of VC/PE institutions was 75%. Except for Nasdaq Exchange, the penetration rate of VC/PE in other trading sectors was above 70%. This month, the book exit return of IPO of VC/PE institutions reached 238.7 billion yuan, up 7.32 times year-on-year and 5.69 times month-on-month. Among them, the book exit return of Aauto Quicker reached 207.8 billion yuan, accounting for 87.07% of the total. The average book return increased sharply, with a year-on-year increase of 1.11 times and a month-on-month increase of 3.51 times. Among them, the average book return of Kuaishou (01024.HK) was as high as 56 times. (See Table 5, Figure 6, Table 6)</p><p><img src=\"https://static.tigerbbs.com/c9eac763cc8b95cfd6801b5db4f73986\" tg-width=\"691\" tg-height=\"347\" referrerpolicy=\"no-referrer\"></p><p>Table 5 Exit Analysis of IPO Trading Sector in February 2021</p><p><img src=\"https://static.tigerbbs.com/eb58910f2ef5d6d71844386251406b5b\" tg-width=\"1080\" tg-height=\"746\" referrerpolicy=\"no-referrer\"></p><p>Figure 6 Return on IPO exits of VC/PE institutions from February 2020 to February 2021</p><p><img src=\"https://static.tigerbbs.com/3803648ed4c05fdcd2172cbb3a3bda7e\" tg-width=\"1080\" tg-height=\"2597\" referrerpolicy=\"no-referrer\"></p><p>Table 6 List of IPOs of VC/PE Institutional Background Enterprises in February 2021</p><p>Part III<b>Analysis of IPO Industry and Region of Chinese Enterprises</b></p><p><b>▼ Cultural media stocks take the top spot in IPO size</b></p><p>In February 2021, the IPO fundraising of cultural media, medical and health, and manufacturing companies ranked in the top three, accounting for 80.68% of the total fundraising of various industries. Among them, there were 11 IPOs of manufacturing companies this month, which was the industry with the largest number of IPOs this month; Due to the outstanding performance of Aauto Quicker, cultural media companies became the largest IPO industry this month, and the number of IPOs of medical and health companies ranked second. (See Figure 7, Table 7)</p><p><img src=\"https://static.tigerbbs.com/01a624dafe1350caa3f25dc53785bb74\" tg-width=\"1080\" tg-height=\"582\" referrerpolicy=\"no-referrer\"></p><p>Figure 7 Industry Distribution of IPO Projects in February 2021</p><p><img src=\"https://static.tigerbbs.com/c05ec9ff112e4a365ab3fee238bccaa5\" tg-width=\"546\" tg-height=\"327\" referrerpolicy=\"no-referrer\"></p><p>Table 7 Statistics of IPO Key Industry Segments in February 2021</p><p><b>▼ Beijing IPO attracts the most gold</b></p><p>In February 2021, the number of IPOs of Chinese enterprises in Beijing, Guangdong and Zhejiang was 7, ranking first in the number of IPOs; The IPO scale of Chinese enterprises in Beijing reached 44.652 billion yuan, accounting for 62% of the total IPO fundraising this month, ranking first, followed by Guangdong and Zhejiang ranking second and third respectively. (See FIG. 8, Table 8)</p><p><img src=\"https://static.tigerbbs.com/bcbf13dc5b0f3f951d5dbbe905c2af41\" tg-width=\"1080\" tg-height=\"542\" referrerpolicy=\"no-referrer\"></p><p>Figure 8 Regional Distribution of IPO Number and Fund Raising Scale of Chinese Enterprises in February 2021</p><p>Note: The sum of IPO quantity distribution ratio (left) and scale ratio (right) is not \"1\" due to rounding</p><p><img src=\"https://static.tigerbbs.com/0f370ab700283b8dcf85c7aeeb4241f4\" tg-width=\"1080\" tg-height=\"810\" referrerpolicy=\"no-referrer\"></p><p>Table 8 Regional Distribution of IPO Number and Fund Raising Scale of Chinese Enterprises in February 2021</p><p>Part IV<b>Key IPO Cases of Chinese Enterprises</b></p><p>In February 2021, the top ten IPO projects in terms of fund-raising scale were all over 1.5 billion yuan, accounting for 78% of the overall fund-raising in February, of which medical and health companies occupied four seats. The top ten IPO projects on the IPO day were all over 10 billion yuan, and Aauto Quicker ranked first with a market value of 1,028.684 billion yuan.</p><p><b>▼ TOP10 IPO Size and Market Value of Chinese Enterprises on the Day</b></p><p>The following table shows the TOP10 IPO fund-raising scale of Chinese enterprises in February 2021. (See Table 9, Table 10)</p><p><img src=\"https://static.tigerbbs.com/2e615d797ba8663f9dcfc7a425773af0\" tg-width=\"685\" tg-height=\"520\" referrerpolicy=\"no-referrer\"></p><p>Table 9 Top 10 IPOs of Chinese Enterprises in February 2021</p><p><img src=\"https://static.tigerbbs.com/cb4703c62ca12a960d5f8e902d7c5c04\" tg-width=\"673\" tg-height=\"522\" referrerpolicy=\"no-referrer\"></p><p>Table 10 TOP10 market capitalization of Chinese enterprises on IPO day in February 2021</p><p><b>▼ Key case: Aauto Quicker</b></p><p><img src=\"https://static.tigerbbs.com/7090938aa3ed0526f56032e19311bd1b\" tg-width=\"663\" tg-height=\"176\" referrerpolicy=\"no-referrer\"></p><p><img src=\"https://static.tigerbbs.com/a280eff01eaaf2e14a751768b00fc39c\" tg-width=\"1080\" tg-height=\"1984\" referrerpolicy=\"no-referrer\"></p><p><img src=\"https://static.tigerbbs.com/b169f2bf98fe220a146c325327e4eced\" tg-width=\"1080\" tg-height=\"2093\" referrerpolicy=\"no-referrer\"></p><p>Part V<b>REVIEW OF POLICY HOT SPOTS</b></p><p>On February 5th, Pi Liuyi, deputy director of the marketing department of the CSRC, said that the merger of the main board and the small and medium-sized board of Shenzhen Stock Exchange is an important measure to comprehensively deepen the reform of the capital market. As an important part of China's multi-level capital market system, the main board and the small and medium-sized board of Shenzhen Stock Exchange have played an active role in expanding direct financing, serving the real economy and supporting small and medium-sized enterprises.</p><p>On February 5th, China Securities Regulatory Commission issued the Guidelines for the Application of Regulatory Rules-Information Disclosure of Shareholders of Listed Enterprises Applying for IPO, requiring issuers who apply for initial public offering of shares or depositary receipts to fully do a good job in shareholder information disclosure and other related work in accordance with these guidelines.</p><p>1. The issuer shall truly, accurately and completely disclose shareholder information. If there is a situation such as holding shares on behalf of the issuer in its history, it shall be dissolved according to law before submitting an application, and the reasons for formation, evolution, dissolution process, whether there are disputes or potential disputes, etc. shall be disclosed in the prospectus.</p><p>II. When submitting the application materials, the issuer shall issue a special commitment, explaining whether the issuer's shareholders have the following circumstances, and disclose the commitment to the public: (1) The entity prohibited by laws and regulations from holding shares directly or indirectly holds the issuer's shares; (2) The intermediary or its person in charge, senior management and handling personnel of this offering directly or indirectly hold the issuer's shares; (3) Improper benefit transfer with the issuer's equity.</p><p>III. If the issuer adds new shareholders within 12 months before submitting the application, it shall fully disclose in the prospectus the basic information of the new shareholders, the reasons for shareholding, the price of shareholding and the pricing basis, whether the new shareholders have a related relationship with other shareholders, directors, supervisors and senior managers of the issuer, whether the new shareholders have a related relationship with the intermediaries and their responsible persons, senior managers and handlers of this offering, and whether the new shareholders hold shares on behalf of them.</p><p>The above-mentioned new shareholders shall undertake that the new shares held by them shall not be transferred within 36 months from the date of acquisition.</p><p>IV. If the trading price of the natural person shareholder of the issuer is obviously abnormal, the intermediary agency shall check the basic information of the shareholder, the background of shareholding and other information, and explain whether there are the circumstances mentioned in the first and second items of these guidelines. The issuer shall explain the basic information of the natural person shareholder.</p><p>V. If the equity structure of the issuer's shareholder is more than two layers and it is a company or limited partnership with no actual business, if the transaction price of the shareholder's share purchase is obviously abnormal, the intermediary agency shall penetrate and check the shareholder layer by layer to find the final holder, and explain whether there are the situations mentioned in Items 1 and 2 of these Guidelines. If the ultimate holder is a natural person, the issuer shall explain the basic information of the natural person.</p><p>VI. Where financial products such as private investment funds hold shares of the issuer, the issuer shall disclose the financial products under supervision.</p><p>VII. The issuer and its shareholders shall provide truthful, accurate and complete information to intermediaries in a timely manner, actively and comprehensively cooperate with intermediaries to carry out due diligence, and perform their information disclosure obligations according to law.</p><p>8. Sponsors, securities service institutions and other intermediaries shall diligently and diligently check the shareholder information disclosed by the issuer in accordance with the requirements of these Guidelines. The verification opinions issued by intermediaries cannot simply be based on the commitments of relevant institutions or individuals, but should comprehensively and thoroughly check the objective evidence including but not limited to the shareholders' shareholding agreement, transaction consideration, source of funds, payment method, etc. to ensure the truth, accuracy and completeness of the documents issued.</p><p>IX. Shareholders added by the issuer through collective auction and continuous auction transactions during the listing of the National Equities Exchange and Quotations and overseas stock exchanges, as well as shareholders who have obtained the issuer's shares due to inheritance, implementation of court judgments or arbitration awards, implementation of national laws and regulations, or under the leadership of people's governments at or above the provincial level, may apply for exemption from the verification and share locking requirements of these Guidelines.</p><p>X. If the issuer's shareholders are suspected of illegal shareholding or the trading price of the shares is obviously abnormal, the CSRC and the stock exchange may require the relevant shareholders to report their basic situation and background of shareholding, and seek opinions from relevant departments on anti-money laundering management and anti-corruption requirements to jointly strengthen supervision.</p><p>11. These Guidelines shall be implemented from the date of publication. Enterprises that have accepted the application before the date of publication shall not apply to the share lock-up requirements in Item 3 of these Guidelines.</p>","source":"lsy1594800555959","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>February IPO Report: 40 Chinese Enterprises Achieve IPO, Aauto Quicker One Ride Juedust</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\">\nFebruary IPO Report: 40 Chinese Enterprises Achieve IPO, Aauto Quicker One Ride Juedust\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\"> 超越J曲线</strong><span class=\"h-time small\">2021-03-09 19:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Core Discovery</p><p>February 2021, total<b>40 Chinese enterprises</b>Successful IPO in A shares, Hong Kong shares and US shares, the number and scale of IPOs in the global market<b>Year-on-year increase</b></p><p>The IPO penetration rate of VC/PE institutions reached 75%, and the IPO book exit return was as high as 238.7 billion yuan, of which<b>Aauto Quicker contributed nearly 90%</b>Average book return doubled year-on-year</p><p>The top ten IPO projects in fund-raising scale are all over 1.5 billion yuan, and the top ten IPO projects in market value on that day are all over 10 billion yuan.<b>Aauto Quicker</b>With a market capitalization of 1,028,684 million yuan on the day<b>Top of the list</b></p><p>Part I:<b>Analysis of IPO Market of Chinese Enterprises</b></p><p>In February 2021, a total of 40 Chinese companies successfully launched IPOs in A-shares, Hong Kong stocks and U.S. stocks, raising a total of 72.4 billion yuan; The TOP5 companies in IPO fundraising scale this month are Aauto Quicker, Zhaoyan New Drug, Bank of Chongqing, Xintong Medical, and Shengyi Electronics; The concentrated industries of IPO are cultural media, medical and health, and manufacturing; The IPO is concentrated in Guangdong, Zhejiang and Beijing. (See Figure 1)</p><p><img src=\"https://static.tigerbbs.com/39accd93f8eac7bc807e0937eacbe03f\" tg-width=\"1080\" tg-height=\"949\" referrerpolicy=\"no-referrer\"></p><p>Figure 1 February 2021 IPO Overview</p><p><b>▼ The number of IPOs of Chinese enterprises in the global market increased year-on-year</b></p><p>In February 2021, a total of 40 Chinese companies successfully launched IPOs in A shares, Hong Kong shares and U.S. shares, with the number of IPOs increasing by 33.33% year-on-year and decreasing by 24.53% month-on-month. The total amount of fundraising was 72.4 billion yuan, and the IPO scale increased by 1.38 times year-on-year and 64.55% month-on-month. A-share market-this month, the mainland became the market with the largest number of IPOs in the global capital market, accounting for 70% of the global IPOs this month; Hong Kong stock market-This month, Hong Kong became the market with the highest IPO fund-raising scale in the global capital market, accounting for 64% of the global IPO scale this month. Now, the largest fund-raising project this month-Aauto Quicker (01024.HK); US stock market-A total of five Chinese companies have listed in the United States this month. (See Figure 2, Table 1)</p><p><img src=\"https://static.tigerbbs.com/6e62b771fb951da394af5988ba60f758\" tg-width=\"1080\" tg-height=\"675\" referrerpolicy=\"no-referrer\"></p><p>Figure 2 Size and Number of IPOs of Chinese Enterprises in the Global Market from February 2020 to February 2021</p><p><img src=\"https://static.tigerbbs.com/ebb9965680100d28eb3be89d70568a24\" tg-width=\"626\" tg-height=\"371\" referrerpolicy=\"no-referrer\"></p><p>Table 1 Statistics of Number and Scale of IPOs by Trading Segment in February 2021</p><p><b>▼ The pace of new share issuance in the A-share market slows down</b></p><p>In February 2021, a total of 28 Chinese companies made IPOs in the Shanghai and Shenzhen stock markets, with the number of IPOs increasing by 27.27% year-on-year and decreasing by 15.15% month-on-month; The total amount of fundraising was 22.9 billion yuan, and the IPO scale decreased by 13.26% year-on-year and 6.91% month-on-month. This month, the number of IPOs on the GEM of Shenzhen Stock Exchange was 10, making it the sector with the largest number of IPOs in the A-share market; The main board of Shanghai Stock Exchange raised 9.292 billion yuan, making it the sector with the highest IPO scale in the A-share market. It is worth noting that the IPO review has become stricter, and the pace of issuance has obviously slowed down. On February 5th, the CSRC issued the Guidelines for the Application of Regulatory Rules-Information Disclosure of Shareholders of Enterprises Applying for IPO Listing, which focused on strengthening the supervision of shareholders of enterprises proposing IPO.</p><p>This month, China Securities Regulatory Commission approved 18 IPO registrations on the Science and Technology Innovation Board, suspended 1 (other matters) audit, and terminated 9 audits. As of January, the number of listed companies on the Science and Technology Innovation Board reached 232. (See Figure 3, Table 2)</p><p><img src=\"https://static.tigerbbs.com/da9ced3c942bcb50f77ecca983cbebe5\" tg-width=\"1080\" tg-height=\"779\" referrerpolicy=\"no-referrer\"></p><p>Figure 3 Size and Number of IPOs of Chinese Enterprises in A-share Market from February 2020 to February 2021</p><p><img src=\"https://static.tigerbbs.com/5828c23260920495a759501b6f41848a\" tg-width=\"1080\" tg-height=\"554\" referrerpolicy=\"no-referrer\"></p><p>Table 2 TOP5 Fundraising by Chinese Enterprises in the A-share Market in February 2021</p><p><b>▼ Hong Kong stock market IPO medical and health stocks perform well</b></p><p>In February 2021, there were 7 Chinese companies IPO in Hong Kong, all of which were listed on the main board of the Hong Kong Stock Exchange. Medical and health companies occupied 5 seats, and the number of IPOs increased by 5 compared with the same period last year; The total amount of fundraising was 46 billion yuan, and the IPO scale increased by 4.68 times from the previous month. Among them, the much-watched \"first short video stock\" Aauto Quicker has an absolute advantage with a fund-raising scale of 35.056 billion yuan. In addition, medical and health companies have performed well, and Zhaoyan New Drug has become the fourth \"A + H\" CRO company in China. (See FIG. 4 and Table 3)</p><p><img src=\"https://static.tigerbbs.com/8f0d133f2bbb3c93b52bf3b782c2f517\" tg-width=\"1080\" tg-height=\"741\" referrerpolicy=\"no-referrer\"></p><p>Figure 4 Size and Number of IPOs of Chinese Enterprises in Hong Kong Stock Market from February 2020 to February 2021</p><p><img src=\"https://static.tigerbbs.com/6a23407b9881485d5751ccf300494e91\" tg-width=\"1080\" tg-height=\"573\" referrerpolicy=\"no-referrer\"></p><p>Table 3 TOP5 Fundraising by Chinese Enterprises in Hong Kong Stock Market in February 2021</p><p><b>▼ IPO boom of Chinese companies in U.S. stock market remains</b></p><p>In February 2021, a total of 5 Chinese companies made IPOs in the U.S. capital market, representing a decrease of 2 IPOs as compared with the previous month; The total amount of fundraising was 3.5 billion yuan, and the IPO scale decreased by 7.89% year-on-year and 68.75% month-on-month. On the whole, although the number and scale of IPOs have declined, popular companies such as Tuhu Car Raising, Dingdong Grocery Buying and Water Drop Chip have all gone public in the United States, and the IPO upsurge of Chinese enterprises in the United States remains the same. (See Figure 5, Table 4)</p><p><img src=\"https://static.tigerbbs.com/4339da3fe0354ee326992dbb44604653\" tg-width=\"1080\" tg-height=\"790\" referrerpolicy=\"no-referrer\"></p><p>Figure 5 Size and Number of IPOs of Chinese Enterprises in the U.S. Stock Market from February 2020 to February 2021</p><p><img src=\"https://static.tigerbbs.com/9904ca0e01974f23d093920123ba9a03\" tg-width=\"1080\" tg-height=\"574\" referrerpolicy=\"no-referrer\"></p><p>Table 4 TOP5 Fundraising by Chinese Enterprises in the U.S. Stock Market in February 2021</p><p>Part II<b>Analysis of IPO Exit of Chinese Enterprises</b></p><p><b>▼ IPO penetration rate of VC/PE institutions is as high as 75%</b></p><p>In February 2021, a total of 30 Chinese enterprises with VC/PE background were listed, and the IPO penetration rate of VC/PE institutions was 75%. Except for Nasdaq Exchange, the penetration rate of VC/PE in other trading sectors was above 70%. This month, the book exit return of IPO of VC/PE institutions reached 238.7 billion yuan, up 7.32 times year-on-year and 5.69 times month-on-month. Among them, the book exit return of Aauto Quicker reached 207.8 billion yuan, accounting for 87.07% of the total. The average book return increased sharply, with a year-on-year increase of 1.11 times and a month-on-month increase of 3.51 times. Among them, the average book return of Kuaishou (01024.HK) was as high as 56 times. (See Table 5, Figure 6, Table 6)</p><p><img src=\"https://static.tigerbbs.com/c9eac763cc8b95cfd6801b5db4f73986\" tg-width=\"691\" tg-height=\"347\" referrerpolicy=\"no-referrer\"></p><p>Table 5 Exit Analysis of IPO Trading Sector in February 2021</p><p><img src=\"https://static.tigerbbs.com/eb58910f2ef5d6d71844386251406b5b\" tg-width=\"1080\" tg-height=\"746\" referrerpolicy=\"no-referrer\"></p><p>Figure 6 Return on IPO exits of VC/PE institutions from February 2020 to February 2021</p><p><img src=\"https://static.tigerbbs.com/3803648ed4c05fdcd2172cbb3a3bda7e\" tg-width=\"1080\" tg-height=\"2597\" referrerpolicy=\"no-referrer\"></p><p>Table 6 List of IPOs of VC/PE Institutional Background Enterprises in February 2021</p><p>Part III<b>Analysis of IPO Industry and Region of Chinese Enterprises</b></p><p><b>▼ Cultural media stocks take the top spot in IPO size</b></p><p>In February 2021, the IPO fundraising of cultural media, medical and health, and manufacturing companies ranked in the top three, accounting for 80.68% of the total fundraising of various industries. Among them, there were 11 IPOs of manufacturing companies this month, which was the industry with the largest number of IPOs this month; Due to the outstanding performance of Aauto Quicker, cultural media companies became the largest IPO industry this month, and the number of IPOs of medical and health companies ranked second. (See Figure 7, Table 7)</p><p><img src=\"https://static.tigerbbs.com/01a624dafe1350caa3f25dc53785bb74\" tg-width=\"1080\" tg-height=\"582\" referrerpolicy=\"no-referrer\"></p><p>Figure 7 Industry Distribution of IPO Projects in February 2021</p><p><img src=\"https://static.tigerbbs.com/c05ec9ff112e4a365ab3fee238bccaa5\" tg-width=\"546\" tg-height=\"327\" referrerpolicy=\"no-referrer\"></p><p>Table 7 Statistics of IPO Key Industry Segments in February 2021</p><p><b>▼ Beijing IPO attracts the most gold</b></p><p>In February 2021, the number of IPOs of Chinese enterprises in Beijing, Guangdong and Zhejiang was 7, ranking first in the number of IPOs; The IPO scale of Chinese enterprises in Beijing reached 44.652 billion yuan, accounting for 62% of the total IPO fundraising this month, ranking first, followed by Guangdong and Zhejiang ranking second and third respectively. (See FIG. 8, Table 8)</p><p><img src=\"https://static.tigerbbs.com/bcbf13dc5b0f3f951d5dbbe905c2af41\" tg-width=\"1080\" tg-height=\"542\" referrerpolicy=\"no-referrer\"></p><p>Figure 8 Regional Distribution of IPO Number and Fund Raising Scale of Chinese Enterprises in February 2021</p><p>Note: The sum of IPO quantity distribution ratio (left) and scale ratio (right) is not \"1\" due to rounding</p><p><img src=\"https://static.tigerbbs.com/0f370ab700283b8dcf85c7aeeb4241f4\" tg-width=\"1080\" tg-height=\"810\" referrerpolicy=\"no-referrer\"></p><p>Table 8 Regional Distribution of IPO Number and Fund Raising Scale of Chinese Enterprises in February 2021</p><p>Part IV<b>Key IPO Cases of Chinese Enterprises</b></p><p>In February 2021, the top ten IPO projects in terms of fund-raising scale were all over 1.5 billion yuan, accounting for 78% of the overall fund-raising in February, of which medical and health companies occupied four seats. The top ten IPO projects on the IPO day were all over 10 billion yuan, and Aauto Quicker ranked first with a market value of 1,028.684 billion yuan.</p><p><b>▼ TOP10 IPO Size and Market Value of Chinese Enterprises on the Day</b></p><p>The following table shows the TOP10 IPO fund-raising scale of Chinese enterprises in February 2021. (See Table 9, Table 10)</p><p><img src=\"https://static.tigerbbs.com/2e615d797ba8663f9dcfc7a425773af0\" tg-width=\"685\" tg-height=\"520\" referrerpolicy=\"no-referrer\"></p><p>Table 9 Top 10 IPOs of Chinese Enterprises in February 2021</p><p><img src=\"https://static.tigerbbs.com/cb4703c62ca12a960d5f8e902d7c5c04\" tg-width=\"673\" tg-height=\"522\" referrerpolicy=\"no-referrer\"></p><p>Table 10 TOP10 market capitalization of Chinese enterprises on IPO day in February 2021</p><p><b>▼ Key case: Aauto Quicker</b></p><p><img src=\"https://static.tigerbbs.com/7090938aa3ed0526f56032e19311bd1b\" tg-width=\"663\" tg-height=\"176\" referrerpolicy=\"no-referrer\"></p><p><img src=\"https://static.tigerbbs.com/a280eff01eaaf2e14a751768b00fc39c\" tg-width=\"1080\" tg-height=\"1984\" referrerpolicy=\"no-referrer\"></p><p><img src=\"https://static.tigerbbs.com/b169f2bf98fe220a146c325327e4eced\" tg-width=\"1080\" tg-height=\"2093\" referrerpolicy=\"no-referrer\"></p><p>Part V<b>REVIEW OF POLICY HOT SPOTS</b></p><p>On February 5th, Pi Liuyi, deputy director of the marketing department of the CSRC, said that the merger of the main board and the small and medium-sized board of Shenzhen Stock Exchange is an important measure to comprehensively deepen the reform of the capital market. As an important part of China's multi-level capital market system, the main board and the small and medium-sized board of Shenzhen Stock Exchange have played an active role in expanding direct financing, serving the real economy and supporting small and medium-sized enterprises.</p><p>On February 5th, China Securities Regulatory Commission issued the Guidelines for the Application of Regulatory Rules-Information Disclosure of Shareholders of Listed Enterprises Applying for IPO, requiring issuers who apply for initial public offering of shares or depositary receipts to fully do a good job in shareholder information disclosure and other related work in accordance with these guidelines.</p><p>1. The issuer shall truly, accurately and completely disclose shareholder information. If there is a situation such as holding shares on behalf of the issuer in its history, it shall be dissolved according to law before submitting an application, and the reasons for formation, evolution, dissolution process, whether there are disputes or potential disputes, etc. shall be disclosed in the prospectus.</p><p>II. When submitting the application materials, the issuer shall issue a special commitment, explaining whether the issuer's shareholders have the following circumstances, and disclose the commitment to the public: (1) The entity prohibited by laws and regulations from holding shares directly or indirectly holds the issuer's shares; (2) The intermediary or its person in charge, senior management and handling personnel of this offering directly or indirectly hold the issuer's shares; (3) Improper benefit transfer with the issuer's equity.</p><p>III. If the issuer adds new shareholders within 12 months before submitting the application, it shall fully disclose in the prospectus the basic information of the new shareholders, the reasons for shareholding, the price of shareholding and the pricing basis, whether the new shareholders have a related relationship with other shareholders, directors, supervisors and senior managers of the issuer, whether the new shareholders have a related relationship with the intermediaries and their responsible persons, senior managers and handlers of this offering, and whether the new shareholders hold shares on behalf of them.</p><p>The above-mentioned new shareholders shall undertake that the new shares held by them shall not be transferred within 36 months from the date of acquisition.</p><p>IV. If the trading price of the natural person shareholder of the issuer is obviously abnormal, the intermediary agency shall check the basic information of the shareholder, the background of shareholding and other information, and explain whether there are the circumstances mentioned in the first and second items of these guidelines. The issuer shall explain the basic information of the natural person shareholder.</p><p>V. If the equity structure of the issuer's shareholder is more than two layers and it is a company or limited partnership with no actual business, if the transaction price of the shareholder's share purchase is obviously abnormal, the intermediary agency shall penetrate and check the shareholder layer by layer to find the final holder, and explain whether there are the situations mentioned in Items 1 and 2 of these Guidelines. If the ultimate holder is a natural person, the issuer shall explain the basic information of the natural person.</p><p>VI. Where financial products such as private investment funds hold shares of the issuer, the issuer shall disclose the financial products under supervision.</p><p>VII. The issuer and its shareholders shall provide truthful, accurate and complete information to intermediaries in a timely manner, actively and comprehensively cooperate with intermediaries to carry out due diligence, and perform their information disclosure obligations according to law.</p><p>8. Sponsors, securities service institutions and other intermediaries shall diligently and diligently check the shareholder information disclosed by the issuer in accordance with the requirements of these Guidelines. The verification opinions issued by intermediaries cannot simply be based on the commitments of relevant institutions or individuals, but should comprehensively and thoroughly check the objective evidence including but not limited to the shareholders' shareholding agreement, transaction consideration, source of funds, payment method, etc. to ensure the truth, accuracy and completeness of the documents issued.</p><p>IX. Shareholders added by the issuer through collective auction and continuous auction transactions during the listing of the National Equities Exchange and Quotations and overseas stock exchanges, as well as shareholders who have obtained the issuer's shares due to inheritance, implementation of court judgments or arbitration awards, implementation of national laws and regulations, or under the leadership of people's governments at or above the provincial level, may apply for exemption from the verification and share locking requirements of these Guidelines.</p><p>X. If the issuer's shareholders are suspected of illegal shareholding or the trading price of the shares is obviously abnormal, the CSRC and the stock exchange may require the relevant shareholders to report their basic situation and background of shareholding, and seek opinions from relevant departments on anti-money laundering management and anti-corruption requirements to jointly strengthen supervision.</p><p>11. These Guidelines shall be implemented from the date of publication. Enterprises that have accepted the application before the date of publication shall not apply to the share lock-up requirements in Item 3 of these Guidelines.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/yIY65zLo481W1wFVNfXI0A\"> 超越J曲线</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/8a05003ea47bd73f11bd992a9431f6d4","relate_stocks":{"01024":"快手-W","06127":"昭衍新药"},"source_url":"https://mp.weixin.qq.com/s/yIY65zLo481W1wFVNfXI0A","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142479766","content_text":"核心发现\n2021年2月，共计40家中国企业在A股、港股以及美股成功IPO，全球市场IPO数量规模同比上升\nVC/PE机构IPO渗透率达75%，IPO账面退出回报规模高达2,387亿元，其中快手贡献近九成，平均账面回报率同比翻倍\n募资规模前十大IPO项目均在15亿元以上，当日市值前十大IPO项目均在100亿元以上，快手以10,286.84亿元当日市值位居榜首\n第一部分：中国企业IPO分市场分析\n2021年2月，共计有40家中国企业在A股、港股以及美股成功IPO，募资总额724亿元；本月IPO募资规模TOP5企业依次为快手、昭衍新药、重庆银行、心通医疗、生益电子；IPO集中行业为文化传媒、医疗健康、制造业；IPO集中地域为广东、浙江、北京。（见图1）\n\n图1 2021年2月IPO概览\n▼全球市场中企IPO数量规模同比上升\n2021年2月，共计40家中国企业在A股、港股以及美股成功IPO， IPO数量同比上升33.33%，环比下降24.53%；募资总额724亿元，IPO规模同比上升1.38倍，环比上升64.55%。A股市场—本月内地成为全球资本市场中IPO数量最多市场，占本月全球IPO数量的70%；港股市场—本月香港成为全球资本市场中IPO募资规模最高的市场，占本月全球IPO规模的64%，现本月最大募资项目—快手（01024.HK）；美股市场—本月共有5家中国企业赴美挂牌上市。（见图2、表1）\n\n图2 2020年2月-2021年2月全球市场中企IPO规模及数量\n\n表1 2021年2月各交易板块IPO数量及规模统计\n▼A股市场新股发行节奏放缓\n2021年2月，共计28家中国企业在沪深两市IPO，IPO数量同比上升27.27%，环比下降15.15%；募资金额共计229亿元，IPO规模同比下降13.26%，环比下降6.91%。本月深交所创业板IPO数量10家，成为A股市场IPO数量最多板块；上交所主板募资规模92.92亿元，成为A股市场IPO规模最高的板块。值得关注的是，IPO审核趋严，发行节奏明显放缓，2月5日证监会发布《监管规则适用指引——关于申请首发上市企业股东信息披露》，着力加强了对拟IPO企业股东的监管。\n本月中国证券监督管理委员会审核通过科创板IPO注册18家，中止（其他事项）审核1家，终止审核9家，截至1月，科创板上市企业数量累计达到232家。（见图3、表2）\n\n图3 2020年2月-2021年2月A股市场中企IPO规模及数量\n\n表2 2021年2月中企A股市场募资TOP5\n▼港股市场IPO医疗健康股表现抢眼\n2021年2月，有7家中国企业在香港IPO，均在港交所主板上市，医疗健康类企业占据5席，IPO数量较去年同期增加5家；募资金额共计460亿元，IPO规模环比上升4.68倍。其中，备受关注的“短视频第一股”快手以350.56亿元募资规模占据绝对优势，除此之外，医疗健康类企业表现亮眼，昭衍新药成为国内第4家“A+H”CRO企业。(见图4、表3)\n\n图4 2020年2月-2021年2月港股市场中企IPO规模及数量\n\n表3 2021年2月中企港股市场募资TOP5\n▼美股市场中企IPO热潮依旧\n2021年2月，共5家中企在美国资本市场IPO，IPO数量较上月减少2家；募资金额共计35亿元，IPO规模同比下降7.89%，环比下降68.75%。整体看来，IPO数量规模虽有所回落，但途虎养车、叮咚买菜和水滴筹等热门企业均有赴美上市IPO消息传出，中企赴美IPO热潮依旧。（见图5、表4）\n\n图5 2020年2月-2021年2月美股市场中企IPO规模及数量\n\n表4 2021年2月中企美股市场募资TOP5\n第二部分中国企业IPO退出分析\n▼VC/PE机构IPO渗透率高达75%\n2021年2月，共30家具有VC/PE背景的中企实现上市，VC/PE机构IPO渗透率为75%，除纳斯达克交易所外，其他交易板块VC/PE渗透率均在70%以上。本月VC/PE机构IPO账面退出回报规模高达2,387亿元，同比上升7.32倍，环比上升5.69倍，其中，快手账面退出回报规模达2,078亿元，占整体的87.07%。平均账面回报率大幅上涨，同比上升1.11倍，环比上升3.51倍，其中，快手（01024.HK）平均账面回报率高达56倍。（见表5、图6、表6）\n\n表5 2021年2月IPO交易板块退出分析\n\n图6 2020年2月-2021年2月VC/PE机构IPO退出账面回报\n\n表6 2021年2月VC/PE机构背景企业IPO一览表\n第三部分中国企业IPO行业及地域分析\n▼文化传媒股IPO规模拔得头筹\n2021年2月，文化传媒、医疗健康、制造业类公司IPO募资位居前三，占据各行业募资总额的80.68%，其中，本月制造业类公司共有11家企业IPO，是本月IPO数量最多的行业；文化传媒类公司由于快手的突出表现，成为本月IPO规模最大行业，医疗健康类公司IPO数量规模均位居第二。（见图7、表7）\n\n图7 2021年2月IPO项目行业分布\n\n表7 2021年2月IPO重点行业细分领域统计\n▼北京地区IPO最吸金\n2021年2月，北京、广东、浙江三地中企IPO数量均为7家，IPO数量位于首位；北京地区中企IPO规模达446.52亿元，占本月IPO募资总额的62%，位居首位，广东、浙江分别排名第二和第三。（见图8、表8）\n\n图8 2021年2月中企IPO数量及募资规模地区分布\n注：IPO数量分布比例（左）以及规模比例（右）相加总和均不为“1”系四舍五入所致\n\n表8 2021年2月中企IPO数量及募资规模地区分布表\n第四部分中国企业IPO重点案例\n2021年2月，募资规模前十大IPO项目均在15亿元以上，占2月整体募资78%，其中，医疗健康类企业占据四席。IPO当日市值前十大IPO项目均在100亿元以上，快手以10,286.84亿元当日市值位居榜首。\n▼中企IPO规模及当日市值TOP10\n下表为2021年2月中企IPO募资规模TOP10。（见表9、表10）\n\n表9 2021年2月中企IPO规模TOP10\n\n表10 2021年2月中企IPO当日市值TOP10\n▼重点案例：快手\n\n\n\n第五部分政策热点回顾\n2月5日，证监会市场部副主任皮六一表示，合并深交所主板和中小板是全面深化资本市场改革的一项重要举措，作为我国多层次资本市场体系的重要组成部分，深交所主板和中小板在扩大直接融资、服务实体经济，支持中小企业方面发挥了积极作用。\n2月5日，中国证监会发布《监管规则适用指引—关于申请首发上市企业股东信息披露》要求申请首次公开发行股票或存托凭证的发行人应当按照本指引，充分做好股东信息披露等相关工作。\n一、发行人应当真实、准确、完整地披露股东信息，发行人历史沿革中存在股份代持等情形的，应当在提交申请前依法解除，并在招股说明书中披露形成原因、演变情况、解除过程、是否存在纠纷或潜在纠纷等。\n二、发行人在提交申报材料时应当出具专项承诺，说明发行人股东是否存在以下情形，并将该承诺对外披露：（一）法律法规规定禁止持股的主体直接或间接持有发行人股份；（二）本次发行的中介机构或其负责人、高级管理人员、经办人员直接或间接持有发行人股份；（三）以发行人股权进行不当利益输送。\n三、发行人提交申请前12个月内新增股东的，应当在招股说明书中充分披露新增股东的基本情况、入股原因、入股价格及定价依据，新股东与发行人其他股东、董事、监事、高级管理人员是否存在关联关系，新股东与本次发行的中介机构及其负责人、高级管理人员、经办人员是否存在关联关系，新增股东是否存在股份代持情形。\n上述新增股东应当承诺所持新增股份自取得之日起36个月内不得转让。\n四、发行人的自然人股东入股交易价格明显异常的，中介机构应当核查该股东基本情况、入股背景等信息，说明是否存在本指引第一项、第二项的情形。发行人应当说明该自然人股东基本情况。\n五、发行人股东的股权架构为两层以上且为无实际经营业务的公司或有限合伙企业的，如该股东入股交易价格明显异常，中介机构应当对该股东层层穿透核查到最终持有人，说明是否存在本指引第一项、第二项的情形。最终持有人为自然人的，发行人应当说明自然人基本情况。\n六、私募投资基金等金融产品持有发行人股份的，发行人应当披露金融产品纳入监管情况。\n七、发行人及其股东应当及时向中介机构提供真实、准确、完整的资料，积极和全面配合中介机构开展尽职调查，依法履行信息披露义务。\n八、保荐机构、证券服务机构等中介机构应当勤勉尽责，依照本指引要求对发行人披露的股东信息进行核查。中介机构发表核查意见不能简单以相关机构或者个人承诺作为依据，应当全面深入核查包括但不限于股东入股协议、交易对价、资金来源、支付方式等客观证据，保证所出具的文件真实、准确、完整。\n九、发行人在全国中小企业股份转让系统挂牌、境外证券交易所上市交易期间通过集合竞价、连续竞价交易方式增加的股东，以及因继承、执行法院判决或仲裁裁决、执行国家法规政策要求或由省级及以上人民政府主导取得发行人股份的股东，可以申请豁免本指引的核查和股份锁定要求。\n十、发行人股东存在涉嫌违规入股、入股交易价格明显异常等情形的，证监会和证券交易所可以要求相关股东报告其基本情况、入股背景等，并就反洗钱管理、反腐败要求等方面征求有关部门意见，共同加强监管。\n十一、本指引自发布之日起实施。发布之日前已受理的企业不适用本指引第三项的股份锁定要求。","news_type":1,"symbols_score_info":{"01024":0.9,"06127":0.9}},"isVote":1,"tweetType":1,"viewCount":1115,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":193784980,"gmtCreate":1620821076740,"gmtModify":1704348879394,"author":{"id":"3564909256585570","authorId":"3564909256585570","name":"Fengjie","avatar":"https://static.tigerbbs.com/45987ca4f2ac62a210c20544200c49f9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564909256585570","idStr":"3564909256585570"},"themes":[],"title":"","htmlText":"<a 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