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2021-06-25

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Who is hyping up Pien Tze Huang?

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game&nbsp;","listText":"Tiger game&nbsp;","text":"Tiger game","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/122766396","repostId":"1186640720","repostType":4,"repost":{"id":"1186640720","kind":"news","pubTimestamp":1624608318,"share":"https://ttm.financial/m/news/1186640720?lang=en_US&edition=fundamental","pubTime":"2021-06-25 16:05","market":"sh","language":"zh","title":"Who is hyping up Pien Tze Huang?","url":"https://stock-news.laohu8.com/highlight/detail?id=1186640720","media":"智通财经APP","summary":"“抢购与炒作齐飞”，今日的神药片仔癀一如2020年的神酒贵州茅台。\n媒体报道，近日，因为消费者疯抢，大量线下门店的片仔癀已经缺货，在淘宝、京东等电商平台，片仔癀官方旗舰店的药品均已售罄。淘宝“片仔癀大","content":"<p>\"Buying sprees and hype soar simultaneously,\" and today's miracle drug Pien Tze Huang is just like the miracle liquor Kweichow Moutai in 2020.</p><p>Media reports indicate that recently, due to a frenzy among consumers, many offline stores have run out of Pien Tze Huang products, and the official flagship stores of Pien Tze Huang have sold out on e-commerce platforms such as Taobao and JD.com. The customer service of Taobao's \"Pien Tze Huang Pharmacy Flagship Store\" said that the restocking time cannot be determined, and it is recommended to save the product first. Other vendors sell Pien Tze Huang for as much as 1,000 yuan per pill.</p><p>Pien Tze Huang's stock price has also been rising steadily, from 100 yuan at the beginning of 2020 to over 400 yuan at present, breaking through the 450 yuan mark on June 25.</p><p>1、<b>Hoarding for speculation? Who is snapping up Pien Tze Huang?</b></p><p>Pien Tze Huang is a liver disease medicine, which is mainly suitable for acute and chronic viral hepatitis caused by heat toxin and blood stasis, and has medical and health care functions. Simply put, Pien Tze Huang can treat fatty liver and alcoholic liver.</p><p>Since Pien Tze Huang went public, it has raised prices 19 times. From 2004 to 2020, domestic retail prices were raised nine times, from 325 yuan to 590 yuan, an increase of 82%.</p><p>Where did the hype surrounding Pien Tze Huang come from?</p><p>One view is that Pien Tze Huang is scarce.</p><p>Is Pien Tze Huang really scarce?</p><p>Due to the impact of the pandemic, many consumers have increased their demand for natural medicinal materials since last year, causing the price of natural musk to rise from 300,000 yuan per kilogram to 400,000 yuan in the past two years. Pien Tze Huang consists of bezoar, musk, Panax notoginseng, and snake bile, with musk alone accounting for 55% of the total cost.</p><p>Some believe that the supply contradiction of raw materials for Pien Tze Huang is more prominent than in previous years. As a scarce variety, Pien Tze Huang is in short supply, and its price is being speculated upwards, creating a \"herd effect\" in investment.</p><p>Regarding the reasons for the latest price increase, Pien Tze Huang issued an announcement in January 2020 stating that, given the rising costs of major raw materials and labor, the company has decided to raise the domestic retail price of its main product, Pien Tze Huang tablets, from 530 yuan/capsule to 590 yuan/capsule, effective from the date of the announcement, and the supply price will be increased by approximately 40 yuan/capsule accordingly.</p><p>However, according to a research report published by Southwest Securities on February 7, 2021, Pien Tze Huang is currently promoting artificial musk deer farming to make up for the insufficient supply of scarce raw materials. The Shaanxi breeding base raises more than 10,000 musk deer, with an estimated annual output of more than 100 kilograms. Both musk and bezoar can meet the capacity expansion needs of three years.</p><p>In other words, the so-called scarcity of raw materials is temporary and does not support the hype surrounding Pien Tze Huang.</p><p>Is there scalpers involved in this hype?</p><p>At the end of April, some netizens revealed that Pien Tze Huang officially entered a purchase restriction policy starting in May 2021, the strictest purchase restriction in history. In the same month, customers can purchase two pills per person per month with their personal ID number and prescription at the experience center to meet the monthly dosage and ensure that long-term medication users will not run out of medication.</p><p>Currently, Pien Tze Huang offline stores in many regions are implementing purchase restrictions. You need to leave your phone number and ID number to make an appointment. Some offline stores even require consumers to \"combine\" purchases, meaning that if you want to buy Pien Tze Huang, you also need to buy other high-priced drugs.</p><p>Analyst Zhu Danpeng stated that the sudden surge in popularity of Pien Tze Huang is undoubtedly related to hype. In the south, especially in the southeastern coastal areas, some consumers believe that Pien Tze Huang has health benefits, and its price has remained high for many years, which has given it some gift attributes.</p><p>Some speculators rushed to buy Pien Tze Huang, waiting for the price to rise, and then sold it off to make huge profits.</p><p>A Pien Tze Huang offline store in Shanghai told the media, \"Not many people bought this medicine before. Two or three months ago, scalpers suddenly started buying it in large quantities. The store had no choice but to start restricting purchases and only open it to regular members.\"</p><p>Are pharmaceuticals being hyped up in conjunction with the capital market?</p><p>Sichuan Securities revealed that some speculative funds may be involved in the hype surrounding Pien Tze Huang.</p><p>The strategy research team at Sichuan Securities believes that behind the sudden supply and demand imbalance, there are inevitably people maliciously hoarding goods, speculating, and even taking the opportunity to profit in the securities market.</p><p>In fact, such hype tactics are not new. In June of this year, a Weibo user verified as the general manager of an asset management company revealed that \"a certain liquor company invited its distributors to buy stock of equivalent value every time they drank alcohol. In the end, the stock price doubled, which meant that the distributors could get the alcohol at zero cost, and the alcohol could be stored for several years and sold slowly.\"</p><p>2、<b>Did mutual funds miss out on Pien Tze Huang?</b></p><p>Unlike in 2020, when mutual funds joined forces to push up leading liquor companies such as Kweichow Moutai and Wuliangye, this time, paradoxically, mutual funds may have completely missed Pien Tze Huang, the \"Moutai of medicine\".</p><p>According to Wind data, at the end of the fourth quarter of 2020, there were 25 public funds holding more than 100,000 shares of Pien Tze Huang: a total of approximately 26.7824 million shares, accounting for about 4.44% of the A-share circulation. Among them are top fund managers such as Ge Lan, Liu Gesong, and Qu Yang.</p><p>However, after the significant fluctuations in blue-chip stocks following the Spring Festival, public data in the first quarter showed that the number of shares held by the top 25 institutions plummeted to 10.0212 million shares, a reduction of more than 60%, accounting for only 1.65% of the A-share circulation ratio.</p><p>At the end of 2020, a total of 101 institutional investors held shares, but by the end of the first quarter of this year, the number of institutional investors had plummeted to 41.</p><p>In the 2021 quarter, Pien Tze Huang also experienced a stock price adjustment. From February 18 to March 9, the stock price fell from 404 yuan to 239 yuan, nearly halved.</p><p>According to publicly available data, most mutual funds sold Pien Tze Huang during the adjustment in the first quarter of 2021.</p><p>However, the main rise in Pien Tze Huang's stock price occurred in the second quarter of 2021. During this process, did mutual funds \"go back to their old ways\" and increase their holdings in Pien Tze Huang? The interim reports of mutual funds and listed companies have not yet been released, so we do not know.</p><p>In the first quarter of 2021, a few mutual funds chose to hold on or even increase their holdings. Huitianfu Value Selection A did not sell a single share and continued to hold 1.5 million shares. Meanwhile, Zhongou Gelan, known in the industry as the \"Goddess of Pharmaceuticals\", bucked the trend and significantly increased its holdings. At the end of the fourth quarter of last year, it only held 272,800 shares of Pien Tze Huang, while at the end of the first quarter, it had already held 2.2149 million shares, an increase of nearly 10 times, showing its strong optimism about the company. Like Ge Lan, newly added GF Healthcare (1.1872 million shares) and Social Security 101 Portfolio (1.0413 million shares) also increased their holdings in the first quarter. Yinhua Wealth Theme also increased its holdings by 1.1998 million shares to 2.7498 million shares in the first quarter, ranking as the sixth largest shareholder.</p><p>3、<b>Is Lin Yuan the man behind Pien Tze Huang?</b></p><p>In the 2018 semi-annual report, the private equity fund managed by private equity tycoon Lin Yuan appeared among the top ten shareholders of Pien Tze Huang with a shareholding ratio of 0.64%. As of the end of June 2020, its three private equity funds held a total of 8.837 million shares of Pien Tze Huang stock.</p><p>However, news broke in the third quarter of 2020 that Lin Yuan had reduced his holdings in Pien Tze Huang, and as of the first quarter of 2021, Lin Yuan's three private equity funds were no longer among the top ten shareholders.</p><p>On June 9, 2021, Lin Yuan sent a representative to attend the Pien Tze Huang shareholders' meeting, where he stated, \"I have invested in Pien Tze Huang stock since 2005 and have not sold a single share to date.\" Previously, Lin Yuan had stated that he had only split his holdings.</p><p>Lin Yuan also sent Pien Tze Huang a warm thank-you letter, which still expressed strong optimism:</p><p>\"Lin Yuan and Lin Yuan Investment have not sold a single share of Pien Tze Huang since they bought it in 2005. Especially during the trade war and the COVID-19 pandemic in my country, including this year, they have been investing heavily, adhering to a long-term perspective, firmly optimistic about the traditional Chinese medicine industry, bullish on China, believing in the fate of the nation, and believing that Pien Tze Huang is a great company. They also believe in its outstanding management team.\" I also wish the company success under General Manager Pan's leadership. Striving to reach new heights, becoming China's calling card and a global luxury brand!</p><p>Previously, on April 21, 2018, Lin Yuan even claimed at an investment report meeting that Pien Tze Huang could be \"brought back to life\".</p><p>“Recently, I chose a Pien Tze Huang. It’s also a pharmaceutical company from Fujian. There are two treasures in Zhangzhou: a daffodil and a Pien Tze Huang. After a Fujianese person dies, the locals also put this medicine in it to see if it can come back to life.”</p><p>Regarding the recent \"hype\" surrounding Pien Tze Huang, Lin Yuan publicly stated, \"They will eventually sell it for the price of two bottles of Moutai.\"</p><p><img src=\"https://static.tigerbbs.com/a6602d2149a718945e18d3b0fdc92cfa\" tg-width=\"608\" tg-height=\"712\" referrerpolicy=\"no-referrer\">4、、<b>Can the price increase of Pien Tze Huang be sustained?</b></p><p>Can Pien Tze Huang really \"sell for the price of two bottles of Moutai\"?</p><p>At the shareholders' meeting of Pien Tze Huang on June 9, 2021, the company stated that it has always been cautious about price increases and does not pursue excessive profits. I disagree with people comparing the prices of Pien Tze Huang and Moutai. Moutai is a grain product and belongs to the category of food; Pien Tze Huang is a medicine, and the pricing and price increase of medicines require more caution and greater consideration of social responsibility. We cannot immediately follow the market trend.</p><p>In fact, as a medicine, Pien Tze Huang always faces pharmaceutical price control. Under the general trend of centralized pharmaceutical procurement, no \"miracle drug\" can sell for sky-high prices.</p><p>On June 25, Pien Tze Huang responded to the recent shortage of its Pien Tze Huang tablets on its interactive platform, stating that the company's production and operation are currently normal. In response to the recent market situation, the company has taken three measures to resolutely maintain market order.</p><p>Although its stock price soared, according to financial reports in recent years, Pien Tze Huang's revenue growth rate was the fastest in 2017, reaching 60.85%. However, the revenue growth rate then began to decline year by year, reaching its lowest point in nearly five years in 2020, at only 13.78%.</p><p>However, Pien Tze Huang's net profit has consistently remained at a high level. After the price increase in 2020, revenue growth dropped to its lowest level in five years, while net profit growth was only 1 percentage point lower than in 2019.</p><p>In fact, Pien Tze Huang's R&D expenses account for a very small proportion. The company's R&D expenses were RMB 100 million, RMB 119 million, and RMB 97.55 million in 2018, 2020, and 2020, respectively, accounting for 2.12%, 2.09%, and 1.5% of operating revenue.</p><p>Pien Tze Huang is an \"exclusive business\". Pien Tze Huang and Yunnan Baiyao are the only two national first-class Chinese medicine protected varieties. Formulated medicinal materials classified as state secrets. Therefore, Pien Tze Huang may not have a strong motivation for research and development, and it will not make mistakes without trial and error. The safest approach is to have readily available references.</p><p><img src=\"https://static.tigerbbs.com/d5efd050b5584873992f4b1d5f5b5cfb\" tg-width=\"767\" tg-height=\"439\" 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>Who is hyping up Pien Tze Huang?</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\">\nWho is hyping up Pien Tze Huang?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经APP</strong><span class=\"h-time small\">2021-06-25 16:05</span>\n</p>\n</h4>\n</header>\n<article>\n<p>\"Buying sprees and hype soar simultaneously,\" and today's miracle drug Pien Tze Huang is just like the miracle liquor Kweichow Moutai in 2020.</p><p>Media reports indicate that recently, due to a frenzy among consumers, many offline stores have run out of Pien Tze Huang products, and the official flagship stores of Pien Tze Huang have sold out on e-commerce platforms such as Taobao and JD.com. The customer service of Taobao's \"Pien Tze Huang Pharmacy Flagship Store\" said that the restocking time cannot be determined, and it is recommended to save the product first. Other vendors sell Pien Tze Huang for as much as 1,000 yuan per pill.</p><p>Pien Tze Huang's stock price has also been rising steadily, from 100 yuan at the beginning of 2020 to over 400 yuan at present, breaking through the 450 yuan mark on June 25.</p><p>1、<b>Hoarding for speculation? Who is snapping up Pien Tze Huang?</b></p><p>Pien Tze Huang is a liver disease medicine, which is mainly suitable for acute and chronic viral hepatitis caused by heat toxin and blood stasis, and has medical and health care functions. Simply put, Pien Tze Huang can treat fatty liver and alcoholic liver.</p><p>Since Pien Tze Huang went public, it has raised prices 19 times. From 2004 to 2020, domestic retail prices were raised nine times, from 325 yuan to 590 yuan, an increase of 82%.</p><p>Where did the hype surrounding Pien Tze Huang come from?</p><p>One view is that Pien Tze Huang is scarce.</p><p>Is Pien Tze Huang really scarce?</p><p>Due to the impact of the pandemic, many consumers have increased their demand for natural medicinal materials since last year, causing the price of natural musk to rise from 300,000 yuan per kilogram to 400,000 yuan in the past two years. Pien Tze Huang consists of bezoar, musk, Panax notoginseng, and snake bile, with musk alone accounting for 55% of the total cost.</p><p>Some believe that the supply contradiction of raw materials for Pien Tze Huang is more prominent than in previous years. As a scarce variety, Pien Tze Huang is in short supply, and its price is being speculated upwards, creating a \"herd effect\" in investment.</p><p>Regarding the reasons for the latest price increase, Pien Tze Huang issued an announcement in January 2020 stating that, given the rising costs of major raw materials and labor, the company has decided to raise the domestic retail price of its main product, Pien Tze Huang tablets, from 530 yuan/capsule to 590 yuan/capsule, effective from the date of the announcement, and the supply price will be increased by approximately 40 yuan/capsule accordingly.</p><p>However, according to a research report published by Southwest Securities on February 7, 2021, Pien Tze Huang is currently promoting artificial musk deer farming to make up for the insufficient supply of scarce raw materials. The Shaanxi breeding base raises more than 10,000 musk deer, with an estimated annual output of more than 100 kilograms. Both musk and bezoar can meet the capacity expansion needs of three years.</p><p>In other words, the so-called scarcity of raw materials is temporary and does not support the hype surrounding Pien Tze Huang.</p><p>Is there scalpers involved in this hype?</p><p>At the end of April, some netizens revealed that Pien Tze Huang officially entered a purchase restriction policy starting in May 2021, the strictest purchase restriction in history. In the same month, customers can purchase two pills per person per month with their personal ID number and prescription at the experience center to meet the monthly dosage and ensure that long-term medication users will not run out of medication.</p><p>Currently, Pien Tze Huang offline stores in many regions are implementing purchase restrictions. You need to leave your phone number and ID number to make an appointment. Some offline stores even require consumers to \"combine\" purchases, meaning that if you want to buy Pien Tze Huang, you also need to buy other high-priced drugs.</p><p>Analyst Zhu Danpeng stated that the sudden surge in popularity of Pien Tze Huang is undoubtedly related to hype. In the south, especially in the southeastern coastal areas, some consumers believe that Pien Tze Huang has health benefits, and its price has remained high for many years, which has given it some gift attributes.</p><p>Some speculators rushed to buy Pien Tze Huang, waiting for the price to rise, and then sold it off to make huge profits.</p><p>A Pien Tze Huang offline store in Shanghai told the media, \"Not many people bought this medicine before. Two or three months ago, scalpers suddenly started buying it in large quantities. The store had no choice but to start restricting purchases and only open it to regular members.\"</p><p>Are pharmaceuticals being hyped up in conjunction with the capital market?</p><p>Sichuan Securities revealed that some speculative funds may be involved in the hype surrounding Pien Tze Huang.</p><p>The strategy research team at Sichuan Securities believes that behind the sudden supply and demand imbalance, there are inevitably people maliciously hoarding goods, speculating, and even taking the opportunity to profit in the securities market.</p><p>In fact, such hype tactics are not new. In June of this year, a Weibo user verified as the general manager of an asset management company revealed that \"a certain liquor company invited its distributors to buy stock of equivalent value every time they drank alcohol. In the end, the stock price doubled, which meant that the distributors could get the alcohol at zero cost, and the alcohol could be stored for several years and sold slowly.\"</p><p>2、<b>Did mutual funds miss out on Pien Tze Huang?</b></p><p>Unlike in 2020, when mutual funds joined forces to push up leading liquor companies such as Kweichow Moutai and Wuliangye, this time, paradoxically, mutual funds may have completely missed Pien Tze Huang, the \"Moutai of medicine\".</p><p>According to Wind data, at the end of the fourth quarter of 2020, there were 25 public funds holding more than 100,000 shares of Pien Tze Huang: a total of approximately 26.7824 million shares, accounting for about 4.44% of the A-share circulation. Among them are top fund managers such as Ge Lan, Liu Gesong, and Qu Yang.</p><p>However, after the significant fluctuations in blue-chip stocks following the Spring Festival, public data in the first quarter showed that the number of shares held by the top 25 institutions plummeted to 10.0212 million shares, a reduction of more than 60%, accounting for only 1.65% of the A-share circulation ratio.</p><p>At the end of 2020, a total of 101 institutional investors held shares, but by the end of the first quarter of this year, the number of institutional investors had plummeted to 41.</p><p>In the 2021 quarter, Pien Tze Huang also experienced a stock price adjustment. From February 18 to March 9, the stock price fell from 404 yuan to 239 yuan, nearly halved.</p><p>According to publicly available data, most mutual funds sold Pien Tze Huang during the adjustment in the first quarter of 2021.</p><p>However, the main rise in Pien Tze Huang's stock price occurred in the second quarter of 2021. During this process, did mutual funds \"go back to their old ways\" and increase their holdings in Pien Tze Huang? The interim reports of mutual funds and listed companies have not yet been released, so we do not know.</p><p>In the first quarter of 2021, a few mutual funds chose to hold on or even increase their holdings. Huitianfu Value Selection A did not sell a single share and continued to hold 1.5 million shares. Meanwhile, Zhongou Gelan, known in the industry as the \"Goddess of Pharmaceuticals\", bucked the trend and significantly increased its holdings. At the end of the fourth quarter of last year, it only held 272,800 shares of Pien Tze Huang, while at the end of the first quarter, it had already held 2.2149 million shares, an increase of nearly 10 times, showing its strong optimism about the company. Like Ge Lan, newly added GF Healthcare (1.1872 million shares) and Social Security 101 Portfolio (1.0413 million shares) also increased their holdings in the first quarter. Yinhua Wealth Theme also increased its holdings by 1.1998 million shares to 2.7498 million shares in the first quarter, ranking as the sixth largest shareholder.</p><p>3、<b>Is Lin Yuan the man behind Pien Tze Huang?</b></p><p>In the 2018 semi-annual report, the private equity fund managed by private equity tycoon Lin Yuan appeared among the top ten shareholders of Pien Tze Huang with a shareholding ratio of 0.64%. As of the end of June 2020, its three private equity funds held a total of 8.837 million shares of Pien Tze Huang stock.</p><p>However, news broke in the third quarter of 2020 that Lin Yuan had reduced his holdings in Pien Tze Huang, and as of the first quarter of 2021, Lin Yuan's three private equity funds were no longer among the top ten shareholders.</p><p>On June 9, 2021, Lin Yuan sent a representative to attend the Pien Tze Huang shareholders' meeting, where he stated, \"I have invested in Pien Tze Huang stock since 2005 and have not sold a single share to date.\" Previously, Lin Yuan had stated that he had only split his holdings.</p><p>Lin Yuan also sent Pien Tze Huang a warm thank-you letter, which still expressed strong optimism:</p><p>\"Lin Yuan and Lin Yuan Investment have not sold a single share of Pien Tze Huang since they bought it in 2005. Especially during the trade war and the COVID-19 pandemic in my country, including this year, they have been investing heavily, adhering to a long-term perspective, firmly optimistic about the traditional Chinese medicine industry, bullish on China, believing in the fate of the nation, and believing that Pien Tze Huang is a great company. They also believe in its outstanding management team.\" I also wish the company success under General Manager Pan's leadership. Striving to reach new heights, becoming China's calling card and a global luxury brand!</p><p>Previously, on April 21, 2018, Lin Yuan even claimed at an investment report meeting that Pien Tze Huang could be \"brought back to life\".</p><p>“Recently, I chose a Pien Tze Huang. It’s also a pharmaceutical company from Fujian. There are two treasures in Zhangzhou: a daffodil and a Pien Tze Huang. After a Fujianese person dies, the locals also put this medicine in it to see if it can come back to life.”</p><p>Regarding the recent \"hype\" surrounding Pien Tze Huang, Lin Yuan publicly stated, \"They will eventually sell it for the price of two bottles of Moutai.\"</p><p><img src=\"https://static.tigerbbs.com/a6602d2149a718945e18d3b0fdc92cfa\" tg-width=\"608\" tg-height=\"712\" referrerpolicy=\"no-referrer\">4、、<b>Can the price increase of Pien Tze Huang be sustained?</b></p><p>Can Pien Tze Huang really \"sell for the price of two bottles of Moutai\"?</p><p>At the shareholders' meeting of Pien Tze Huang on June 9, 2021, the company stated that it has always been cautious about price increases and does not pursue excessive profits. I disagree with people comparing the prices of Pien Tze Huang and Moutai. Moutai is a grain product and belongs to the category of food; Pien Tze Huang is a medicine, and the pricing and price increase of medicines require more caution and greater consideration of social responsibility. We cannot immediately follow the market trend.</p><p>In fact, as a medicine, Pien Tze Huang always faces pharmaceutical price control. Under the general trend of centralized pharmaceutical procurement, no \"miracle drug\" can sell for sky-high prices.</p><p>On June 25, Pien Tze Huang responded to the recent shortage of its Pien Tze Huang tablets on its interactive platform, stating that the company's production and operation are currently normal. In response to the recent market situation, the company has taken three measures to resolutely maintain market order.</p><p>Although its stock price soared, according to financial reports in recent years, Pien Tze Huang's revenue growth rate was the fastest in 2017, reaching 60.85%. However, the revenue growth rate then began to decline year by year, reaching its lowest point in nearly five years in 2020, at only 13.78%.</p><p>However, Pien Tze Huang's net profit has consistently remained at a high level. After the price increase in 2020, revenue growth dropped to its lowest level in five years, while net profit growth was only 1 percentage point lower than in 2019.</p><p>In fact, Pien Tze Huang's R&D expenses account for a very small proportion. The company's R&D expenses were RMB 100 million, RMB 119 million, and RMB 97.55 million in 2018, 2020, and 2020, respectively, accounting for 2.12%, 2.09%, and 1.5% of operating revenue.</p><p>Pien Tze Huang is an \"exclusive business\". Pien Tze Huang and Yunnan Baiyao are the only two national first-class Chinese medicine protected varieties. Formulated medicinal materials classified as state secrets. Therefore, Pien Tze Huang may not have a strong motivation for research and development, and it will not make mistakes without trial and error. The safest approach is to have readily available references.</p><p><img src=\"https://static.tigerbbs.com/d5efd050b5584873992f4b1d5f5b5cfb\" tg-width=\"767\" tg-height=\"439\" referrerpolicy=\"no-referrer\"></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/fPg__P2D5g2Ud8-8ZahI9Q\">智通财经APP</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3153c88188d79bb8182b93c4fdd43636","relate_stocks":{"600436":"片仔癀"},"source_url":"https://mp.weixin.qq.com/s/fPg__P2D5g2Ud8-8ZahI9Q","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1186640720","content_text":"“抢购与炒作齐飞”，今日的神药片仔癀一如2020年的神酒贵州茅台。\n媒体报道，近日，因为消费者疯抢，大量线下门店的片仔癀已经缺货，在淘宝、京东等电商平台，片仔癀官方旗舰店的药品均已售罄。淘宝“片仔癀大药房旗舰店”客服表示，补货时间无法确定，建议先收藏商品。其他商家售卖的片仔癀单粒价格则高达千元。\n片仔癀的股价也一路水涨船高，从2020年初的100元飙升至目前的400元以上，6月25日，突破450元大关。\n1、囤积居奇？谁在抢购片仔癀？\n片仔癀是一种肝病用药，主要适用于热毒血瘀所致急慢性病毒性肝炎，同时具备医用和保健功能。简单地说，片仔癀有治疗脂肪肝、酒精肝的作用。\n自片仔癀上市以来，已经持续进行了19次提价。其中，2004年到2020年国内零售价一共提价9次，从325元的零售价提升到了590元，提升82%。\n片仔癀这波炒作是怎么来的呢？\n一种观点是，片仔癀稀缺。\n片仔癀真的稀缺吗？\n受疫情影响，去年开始，许多消费者对天然药材的需求增加，导致这两年天然麝香价格从每千克30万涨到40万元。片仔癀成分为牛黄、麝香、三七与蛇胆，光麝香就占到总成本的55%。\n有人认为，片仔癀原材料供应矛盾比往年更突出。作为稀缺品种，片仔癀供不应求，价格越炒越高，越高越炒，出现投资“羊群效应”。\n对于最近一次涨价原因，片仔癀在2020年1月发布公告称，鉴于主要原料及人工成本上涨等原因，公司决定自公告之日起，主导产品片仔癀锭剂国内市场零售价格从530元/粒上调到590元/粒，供应价格相应上调约40元/粒。\n然而，根据西南证券2021年2月7日发表的研报，目前片仔癀推进人工养麝，以弥补稀缺原料供给不足，陕西养殖基地养麝超1万头，推测年产超100公斤，麝香和牛黄均可满足3年的产能扩张。\n换言之，原材料的所谓稀缺是暂时的，并不支撑片仔癀的炒作。\n有黄牛炒作吗？\n4月底就有网友透露，片仔癀从2021年5月开始，正式进入限购政策，历史上最严限购令，当月凭个人身份证号码和处方，体验馆购买，一人一个月限购2粒，满足当月使用的用量，保证长期用药的客户不会断药。\n目前，多地片仔癀线下门店实行限购。需要留下电话号码和身份证号预约，甚至有线下门店要求消费者“搭配”购买，即想要买到片仔癀，还要购买其他的高价药品。\n分析师朱丹蓬表示， 片仔癀突然的紧俏，与炒作不无关系。在南方尤其是东南沿海地区，一些消费者认为片仔癀具有保健功效，而且常年价格居高不下，也因此让其有了一些礼品属性。\n一些投机者抢购片仔癀坐等涨价，再抛售之后赚取中间暴利。\n有上海的片仔癀线下门店告诉媒体，“这个药之前并没有很多人购买，两三个月前，突然有黄牛开始大批购买，店铺无奈开始限购，只对会员老顾客开放。”\n药品在与资本市场联动炒作吗？\n川财证券透露，或有游资参与片仔癀炒作。\n川财证券策略研究团队认为，突如其来的供需失衡背后难免存在有人恶意囤货，恶意炒作，甚至借机在证券市场上牟利。\n事实上，这样的炒作套路并不新鲜。今年6月，有微博认证为某资管公司总经理的用户透露，“某白酒企业邀请经销商每次进酒的时候，进等价的股票。最后股价翻了一倍，等于经销商零成本拿酒，酒还可以放好几年，慢慢卖都行。”\n2、公募基金踏空了片仔癀？\n与2020年，公募机构联手推高贵州茅台、五粮液等白酒龙头不同，这一次，吊诡的是，公募基金们可能完美踏空了“药中茅台”片仔癀。\nWind数据显示，2020年四季度末，持有片仔癀股数超过10万股的公募基金共有25家：共持有约2678.24万股，约占A股流通比例4.44%。其中不乏“顶流基金经理”葛兰、刘格菘、曲阳等人的身影。\n然而，在经历了春节之后白马股的大幅震荡之后，一季度的公开数据显示，前25家机构持股数量锐减为1002.12万股，减仓幅度超过六成，只占A股流通比例的1.65%。\n2020年底，共计有101家机构投资者持股，今年一季度末，机构投资者锐减至41家。\n2021年季度，片仔癀亦经历了股价调整，其中，2月18日至3月9日，股价从404元跌至239元，接近腰斩。\n从公开数据看，大部分公募基金在2021年1季度的调整中卖出了片仔癀。\n不过，片仔癀股价的主要上涨是在2021年2季度，在这个过程中，公募基金有没有“吃回头草”又加仓片仔癀呢？目前公募基金和上市公司的中报都尚未出炉，我们不得而知。\n2021年1季度，少数公募基金选择了坚守甚至加仓，汇添富价值精选A一股未卖继续持有150万股，而被业内称为“医药女神”的中欧葛兰则逆势大举增仓，去年四季度末还仅持有片仔癀27.28万股，而一季度末披露时已持221.49万股，足足增仓接近10倍之多，显示其对公司的强烈看好。与葛兰相同在一季度进行增仓的，还有新进的广发医疗保健（118.72万股）和社保一零一组合（104.13万股），而银华富裕主题在一季度也增仓119.98万股至274.98万股，位列第六大股东。\n3、林园是片仔癀背后的男人吗？\n2018年半年报中，私募大佬林园旗下的私募基金以0.64%的持股比例出现在了片仔癀十大股东中。截至2020年6月末，其旗下3只私募基金合计持有片仔癀股票883.7万股。\n不过，2020年第三季度传出“林园减持片仔癀”的新闻，截至2021年第一季度，林园的三支私募基金已不在十大股东之列。\n2021年6月9日，林园派了代表参加片仔癀股东大会，会上表示，“从2005年起投资片仔癀股票，至今一股未卖。”此前林园曾称，只是将持仓进行了拆分。\n林园还给片仔癀送上热情洋溢的感谢信，感谢信依然是表达强烈看好：\n“林园及林园投投资，从2005年买入片仔癀至今一股未卖。尤其在贸易战我国新冠疫情，包括今年一直在大力投入，坚持长期主义，坚定看好中医药行业，看多中国，相信国运，相信片仔癀是一家伟大的公司。相信卓越优秀的管理层。也祝愿公司在潘总的带领下。勇攀高峰成为中国的名片，成为世界的奢侈品牌！”\n此前，2018年4月21日，林园在投资报告会上甚至宣称片仔癀可以“起死回生”。\n“最近我选了一个片仔癀。也是一个药的企业，这是福建的。在漳州有两宝，一个是水仙，还有一个是片仔癀。福建人死了以后，当地人也要把这个药放进去，试试能不能活过来。”\n对于这次片仔癀的“爆炒”，林园更是公开表示“他们最终要卖到两瓶茅台的价格。”\n4、、片仔癀的涨价可否持续？\n片仔癀真的能“卖到两瓶茅台的价格吗”？\n2021年6月9日，片仔癀股东大会上，公司表示，对待涨价问题，向来都比较小心谨慎，不追求过度利润。不赞同大家拿片仔癀跟茅台的价格进行对比。茅台是粮食产品，属于食品；片仔癀是药品，药品的定价和涨价问题，要更加谨慎，更加考虑社会责任，无法马上随行就市。\n事实上，片仔癀作为药品，始终要面临医药价格管制。在医药集采的大趋势下，任何“神药”都不可能卖到天价。\n6月25日，片仔癀在互动平台回应近期其片仔癀锭剂“一粒难求”的现象，称目前公司生产经营均属于正常状态，针对近期市场情况，公司采取三方面措施，坚决维护市场秩序。\n虽然股价一飞冲天，但是，从近几年财报数据看，片仔癀在2017年的营收增速最快，达到了60.85%，但随后营收增速便开始逐年下降，到2020年下降至近五年最低点，仅有13.78%。\n不过，片仔癀的净利润始终保持较高的水平。2020年提价之后，营收增速下降至5年内最低，然时净利润增速与2019年相比，只差了1个百分点。\n事实上，片仔癀的研发费用占比很低。公司 2018 年至 2020 年研发费用分别为 1 亿元、1.19 亿元、9755 万元，占营业收入比例分别为 2.12%、2.09%、1.5%。\n片仔癀是一门“独家生意”。片仔癀与云南白药，是唯二两个国家一级中药保护品种。国家机密级别的配方药材。因此，片仔癀或许没有太强的研发动力，不试错并不会犯错。有现成可借鉴的最稳妥。","news_type":1,"symbols_score_info":{"600436":0.9}},"isVote":1,"tweetType":1,"viewCount":3869,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":122768697,"gmtCreate":1624633690919,"gmtModify":1703842391624,"author":{"id":"3569896467959373","authorId":"3569896467959373","name":"Kaslim","avatar":"https://static.tigerbbs.com/f82c85a933438b27edc2f005ba118976","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569896467959373","idStr":"3569896467959373"},"themes":[],"htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/122768697","repostId":"1119275851","repostType":4,"repost":{"id":"1119275851","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":1624615380,"share":"https://ttm.financial/m/news/1119275851?lang=en_US&edition=fundamental","pubTime":"2021-06-25 18:03","market":"hk","language":"zh","title":"Geely Automobile withdraws its application for listing on the Science and Technology","url":"https://stock-news.laohu8.com/highlight/detail?id=1119275851","media":"老虎资讯综合","summary":"吉利汽车6月25日公告，旗下合资公司极氪智能科技控股有限公司董事会已决议为极氪智能科技可持续发展探索不同的外部融资方案。此外，因公司经营决策和战略调整，经公司董事会于2021年6月25日审议通过，决定","content":"<p>Geely Automobile announced on June 25 that the board of directors of its joint venture Zeekr Intelligent Technology Holding Limited has resolved to explore different external financing solutions for the sustainable development of Jike Intelligent Technology. In addition, due to the company's business decisions and strategic adjustments, the company's board of directors reviewed and approved the decision on June 25, 2021, to withdraw the application for an initial public offering of shares and listing on the Science and Technology Innovation Board.<img src=\"https://static.tigerbbs.com/8c4432da17aee14f9b81332daffd165a\" tg-width=\"831\" tg-height=\"730\" 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>Geely Automobile withdraws its application for listing on the Science and Technology</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\">\nGeely Automobile withdraws its application for listing on the Science and Technology\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-06-25 18:03</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Geely Automobile announced on June 25 that the board of directors of its joint venture Zeekr Intelligent Technology Holding Limited has resolved to explore different external financing solutions for the sustainable development of Jike Intelligent Technology. In addition, due to the company's business decisions and strategic adjustments, the company's board of directors reviewed and approved the decision on June 25, 2021, to withdraw the application for an initial public offering of shares and listing on the Science and Technology Innovation Board.<img src=\"https://static.tigerbbs.com/8c4432da17aee14f9b81332daffd165a\" tg-width=\"831\" tg-height=\"730\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5a4a0d90587b4a1f8e70e6ef9eb66019","relate_stocks":{"00175":"吉利汽车"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1119275851","content_text":"吉利汽车6月25日公告，旗下合资公司极氪智能科技控股有限公司董事会已决议为极氪智能科技可持续发展探索不同的外部融资方案。此外，因公司经营决策和战略调整，经公司董事会于2021年6月25日审议通过，决定撤回首次公开发行股票并在科创板上市的申请。","news_type":1,"symbols_score_info":{"00175":0.9}},"isVote":1,"tweetType":1,"viewCount":4856,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126975775,"gmtCreate":1624543410697,"gmtModify":1703839902823,"author":{"id":"3569896467959373","authorId":"3569896467959373","name":"Kaslim","avatar":"https://static.tigerbbs.com/f82c85a933438b27edc2f005ba118976","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569896467959373","idStr":"3569896467959373"},"themes":[],"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/126975775","repostId":"1144044065","repostType":4,"repost":{"id":"1144044065","kind":"news","pubTimestamp":1624532990,"share":"https://ttm.financial/m/news/1144044065?lang=en_US&edition=fundamental","pubTime":"2021-06-24 19:09","market":"us","language":"zh","title":"China Banking and Insurance Regulatory Commission official: The global economy is in a sensitive period and it will be difficult to return to normal in the","url":"https://stock-news.laohu8.com/highlight/detail?id=1144044065","media":"新浪财经","summary":"这次疫情至少是自第二次世界大战以来对全球经济、人类社会最大的一次冲击。","content":"<p>The 2021 Caixin Summer Summit was held in Beijing from June 23-25, 2021. Yu Xuejun, a leader of the China Banking and Insurance Regulatory Commission, attended and delivered a speech.</p><p>Yu Xuejun stated that the global economy is in a sensitive period of evolution and change, and it is difficult to return to normal in the short term.</p><p>He explained that, firstly, the complexity and sensitivity facing the global economy this year were caused by the outbreak and spread of the COVID-19 pandemic last year, \"and the impact was too great.\" He cited a UN report stating that this was \"the worst global economic contraction since the Great Depression of the 1930s, a contraction 2.5 times the degree of the 2009 international financial crisis.\" He added,</p><p>\"From our memory, this pandemic has been the biggest shock to the global economy and human society since at least World War II.\" Last year, the global economy contracted by 4.4% overall. Thanks to China's good control of the epidemic and its combined efforts in epidemic prevention and economic work, the country resumed work and production effectively, making it the only country among the world's top ten economies to achieve positive growth, with an annual economic growth of 2.3%. Yu Xuejun said,</p><p>\"This (growth) of 2.3% is very well-known now. We see it on TV, in newspapers, and even some foreign scholars often mention 2.3%.\" Second, due to the rare impact of the COVID-19 pandemic on the global economy, governments around the world have generally implemented ultra-loose stimulus economic policies. Historically, these policies are unprecedented in intensity and have played an important role in stabilizing the economies and maintaining social order in various countries. However, at the same time, these ultra-loose policies have also brought many problems.</p><p>Third, the changes and impacts of global geopolitics.</p><p>Yu Xuejun stated that the key to controlling the epidemic lies in the research and development and administration of vaccines. All countries hope to achieve this in one fell swoop, but progress is now very fast, far exceeding people's previous expectations. How things will change in the future depends on two factors. One is the effectiveness of the vaccine, including its shelf life, which remains to be seen.</p><p>Second, the speed and complexity of the COVID-19 virus mutation. “In the past, when we were doing banking supervision, we often said, ‘Regulation is a race against risk.’ Today, we are borrowing this saying. We believe that fighting the COVID-19 pandemic is actually a race against the mutations of the virus,” he said. Overall, the situation in humanity’s fight against the COVID-19 pandemic has become bright, and it now seems to be dominated by optimism. He believes that the negative impact on the economy will gradually weaken.</p><p>When discussing the future of ultra-loose stimulus policies, Yu Xuejun analyzed the situation in the United States.</p><p>Last year, during the Trump administration, after the widespread spread of COVID-19 in the United States, the Federal Reserve lowered the Federal Reserve interest rate from 1.5%-1.75% to 0% to 0.25% in mid-March, the so-called \"zero interest rate\". At the end of the year, the Federal Reserve intensified its QE policy, increasing its bond purchases to $120 billion per month starting in December.</p><p>Since taking office, President Biden has further increased fiscal stimulus policies, most notably the $1.9 trillion COVID-19 relief bill passed in April of this year. In addition, he proposed a plan to revive infrastructure investment. The initial proposal was for a scale of 2.25 trillion, but it has recently been reduced to approximately $1 trillion.</p><p>Since last year, the Federal Reserve has implemented an ultra-loose monetary policy, which has led to a significant increase in its balance sheet, which has surged from about $4 trillion at the beginning to $7.5 trillion at the end of the year, and has now reached about $8 trillion. This has led to a continuous expansion of global dollar liquidity and caused a sharp rise in commodity prices, including a rare increase in food prices, raising global concerns about inflation.</p><p>Yu Xuejun believes that with the improvement of the US anti-epidemic situation and the cumulative effect of ultra-loose monetary stimulus policies, the US economy has rebounded strongly. According to the latest OECD medium-term economic outlook forecast, the US economy will grow by 6.9% this year, which is 0.4 percentage points higher than the previous forecast.</p><p>In response to these new changes, the Federal Reserve has begun to send hawkish signals at its latest interest rate meeting in June, and the market expects the Fed's rate hike to be brought forward by a year to the second half of 2022. In addition, inflation expectations have been significantly raised, with the U.S. PCE and personal consumption expenditures price index expected to rise to 3.4% in 2021, up 1 percentage point from the March forecast. Yu Xuejun said,</p><p>\"We are in a window of opportunity where macroeconomic control policies may be adjusted and changed at any time, so the market is extremely sensitive. A piece of information or a single word from the Federal Reserve can cause huge fluctuations in the market. Currently, grain, iron ore, oil, gold, and exchange rates rise and fall almost every day, with different changes and no consistent direction. We are in such a sensitive period.\" Why is it difficult to return to normal in the short term? He gave two reasons:</p><p>First, the impact of the COVID-19 pandemic is too great, and controlling the pandemic remains unpredictable. In addition, the significant impact of the pandemic on human society, especially on economic activities, after it is brought under control, also requires time to be assessed.</p><p>Secondly, the ultra-loose stimulus policies of various countries have had a significant impact. The withdrawal of these policies requires a long process and is irreversible. In particular, the base money injected by the Federal Reserve is difficult to recover in the short term and may become a part of history that will be retained forever.</p><p>\"After the 2008 US financial crisis, the Federal Reserve implemented a quantitative easing monetary policy. Previously, the Fed's balance sheet was less than $900 billion, but it later increased to a peak of $4.5 trillion, and now it has increased to $8 trillion. Based on this calculation...\"<b>The Fed's balance sheet is expected to eventually be more than 10 times larger than it was before the 2008 financial crisis.</b>These large amounts of dollar liquidity are being invested around the world, having a huge impact on global economic and financial markets, especially on inflation, which I believe is difficult to eliminate in the short term and difficult to accurately assess.</p>","source":"XLCJ","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>China Banking and Insurance Regulatory Commission official: The global economy is in a sensitive period and it will be difficult to return to normal in the</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\">\nChina Banking and Insurance Regulatory Commission official: The global economy is in a sensitive period and it will be difficult to return to normal in the\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪财经</strong><span class=\"h-time small\">2021-06-24 19:09</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The 2021 Caixin Summer Summit was held in Beijing from June 23-25, 2021. Yu Xuejun, a leader of the China Banking and Insurance Regulatory Commission, attended and delivered a speech.</p><p>Yu Xuejun stated that the global economy is in a sensitive period of evolution and change, and it is difficult to return to normal in the short term.</p><p>He explained that, firstly, the complexity and sensitivity facing the global economy this year were caused by the outbreak and spread of the COVID-19 pandemic last year, \"and the impact was too great.\" He cited a UN report stating that this was \"the worst global economic contraction since the Great Depression of the 1930s, a contraction 2.5 times the degree of the 2009 international financial crisis.\" He added,</p><p>\"From our memory, this pandemic has been the biggest shock to the global economy and human society since at least World War II.\" Last year, the global economy contracted by 4.4% overall. Thanks to China's good control of the epidemic and its combined efforts in epidemic prevention and economic work, the country resumed work and production effectively, making it the only country among the world's top ten economies to achieve positive growth, with an annual economic growth of 2.3%. Yu Xuejun said,</p><p>\"This (growth) of 2.3% is very well-known now. We see it on TV, in newspapers, and even some foreign scholars often mention 2.3%.\" Second, due to the rare impact of the COVID-19 pandemic on the global economy, governments around the world have generally implemented ultra-loose stimulus economic policies. Historically, these policies are unprecedented in intensity and have played an important role in stabilizing the economies and maintaining social order in various countries. However, at the same time, these ultra-loose policies have also brought many problems.</p><p>Third, the changes and impacts of global geopolitics.</p><p>Yu Xuejun stated that the key to controlling the epidemic lies in the research and development and administration of vaccines. All countries hope to achieve this in one fell swoop, but progress is now very fast, far exceeding people's previous expectations. How things will change in the future depends on two factors. One is the effectiveness of the vaccine, including its shelf life, which remains to be seen.</p><p>Second, the speed and complexity of the COVID-19 virus mutation. “In the past, when we were doing banking supervision, we often said, ‘Regulation is a race against risk.’ Today, we are borrowing this saying. We believe that fighting the COVID-19 pandemic is actually a race against the mutations of the virus,” he said. Overall, the situation in humanity’s fight against the COVID-19 pandemic has become bright, and it now seems to be dominated by optimism. He believes that the negative impact on the economy will gradually weaken.</p><p>When discussing the future of ultra-loose stimulus policies, Yu Xuejun analyzed the situation in the United States.</p><p>Last year, during the Trump administration, after the widespread spread of COVID-19 in the United States, the Federal Reserve lowered the Federal Reserve interest rate from 1.5%-1.75% to 0% to 0.25% in mid-March, the so-called \"zero interest rate\". At the end of the year, the Federal Reserve intensified its QE policy, increasing its bond purchases to $120 billion per month starting in December.</p><p>Since taking office, President Biden has further increased fiscal stimulus policies, most notably the $1.9 trillion COVID-19 relief bill passed in April of this year. In addition, he proposed a plan to revive infrastructure investment. The initial proposal was for a scale of 2.25 trillion, but it has recently been reduced to approximately $1 trillion.</p><p>Since last year, the Federal Reserve has implemented an ultra-loose monetary policy, which has led to a significant increase in its balance sheet, which has surged from about $4 trillion at the beginning to $7.5 trillion at the end of the year, and has now reached about $8 trillion. This has led to a continuous expansion of global dollar liquidity and caused a sharp rise in commodity prices, including a rare increase in food prices, raising global concerns about inflation.</p><p>Yu Xuejun believes that with the improvement of the US anti-epidemic situation and the cumulative effect of ultra-loose monetary stimulus policies, the US economy has rebounded strongly. According to the latest OECD medium-term economic outlook forecast, the US economy will grow by 6.9% this year, which is 0.4 percentage points higher than the previous forecast.</p><p>In response to these new changes, the Federal Reserve has begun to send hawkish signals at its latest interest rate meeting in June, and the market expects the Fed's rate hike to be brought forward by a year to the second half of 2022. In addition, inflation expectations have been significantly raised, with the U.S. PCE and personal consumption expenditures price index expected to rise to 3.4% in 2021, up 1 percentage point from the March forecast. Yu Xuejun said,</p><p>\"We are in a window of opportunity where macroeconomic control policies may be adjusted and changed at any time, so the market is extremely sensitive. A piece of information or a single word from the Federal Reserve can cause huge fluctuations in the market. Currently, grain, iron ore, oil, gold, and exchange rates rise and fall almost every day, with different changes and no consistent direction. We are in such a sensitive period.\" Why is it difficult to return to normal in the short term? He gave two reasons:</p><p>First, the impact of the COVID-19 pandemic is too great, and controlling the pandemic remains unpredictable. In addition, the significant impact of the pandemic on human society, especially on economic activities, after it is brought under control, also requires time to be assessed.</p><p>Secondly, the ultra-loose stimulus policies of various countries have had a significant impact. The withdrawal of these policies requires a long process and is irreversible. In particular, the base money injected by the Federal Reserve is difficult to recover in the short term and may become a part of history that will be retained forever.</p><p>\"After the 2008 US financial crisis, the Federal Reserve implemented a quantitative easing monetary policy. Previously, the Fed's balance sheet was less than $900 billion, but it later increased to a peak of $4.5 trillion, and now it has increased to $8 trillion. Based on this calculation...\"<b>The Fed's balance sheet is expected to eventually be more than 10 times larger than it was before the 2008 financial crisis.</b>These large amounts of dollar liquidity are being invested around the world, having a huge impact on global economic and financial markets, especially on inflation, which I believe is difficult to eliminate in the short term and difficult to accurately assess.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.sina.cn/hy/2021-06-24/detail-ikqciyzk1510511.d.html?from=wap\">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/f0777ffe79222b2a04c15407e205bed9","relate_stocks":{".DJI":"道琼斯","000001.SH":"上证指数"},"source_url":"https://finance.sina.cn/hy/2021-06-24/detail-ikqciyzk1510511.d.html?from=wap","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1144044065","content_text":"2021财新夏季峰会于2021年6月23-25日在北京举办，中国银行保险监督管理委员会领导于学军出席并演讲。\n于学军表示，全球经济正处于演进变化的敏感时期，短期内难以回归常态。\n他解释称，首先，今年全球经济面临的复杂性和敏感性是受去年新冠肺炎疫情在全球的暴发、蔓延而形成的，“这个冲击太大了”。他引用联合国报告称这“是自上世纪30年代经济大萧条以来，全球经济最严重的收缩，收缩的程度是2009年国际金融危机的2.5倍”。他又说道，\n\n “从我们的记忆来说，这次疫情至少是自第二次世界大战以来对全球经济、人类社会最大的一次冲击。”\n\n去年全球经济总体下降4.4%，由于中国疫情控制得好，并且防疫和经济工作两手抓，复工复产有力有效，成为了全球前十大经济体中唯一实现正增长的国家，全年经济增长2.3%。于学军说，\n\n “这个（增长）2.3%，现在非常有名，我们看电视、报纸，包括国外的一些学者，他们也经常提起来2.3%。”\n\n第二，由于新冠疫情对全球经济形成的罕见冲击，所以各国政府普遍实行了超宽松的刺激性经济政策，历史比较来看，这些政策力度是空前的，在各国稳定经济和维护社会秩序等方面均发挥了重要作用，但与此同时这些超宽松的政策也带来许多问题。\n第三，全球地缘政治的变化和影响。\n于学军表示，控制疫情的关键环节在于疫苗的研发和接种，各国都希望可以毕其功于一役，现在看进展很快，远超出人们之前的预期。未来如何变化取决于两个因素，一是疫苗的有效性，包括有效期，尚有待时间检验。\n二是新冠病毒变异的速度和复杂性。“过去我们做银行监管常说的一句话，叫做‘监管就是与风险赛跑’，今天我们把这句话借用过来，我们认为抗击新冠疫情实际上也是与新冠病毒的变异赛跑”，他说，总体来看人类抗击新冠疫情的形势已现光明，现在普遍看起来是乐观情绪主导，相信对经济的负面影响也会逐步减弱。\n谈及超宽松的刺激性政策何去何从，于学军分析了美国的情况。\n去年在特朗普执政时期，新冠肺炎在美国大面积传染之后，美联储在3月中旬一次性将联邦储备利率由1.5%-1.75%调低为0%到0.25%，即所谓的“零利率”。年末美联储又加大QE政策，从12月起将其购债规模每月增加到1200亿美元。\n拜登总统上任之后，进一步加大财政的刺激性政策，最具代表性的就是于今年4月通过的1.9万亿美元的新冠纾困法案。另外，他还提出基建投资的复兴计划。开始拟定的是2.25万亿规模，最近有所压缩，预计约1万亿美元。\n去年开始美联储实行超宽松的货币政策，使其资产负债表大幅增加，已从初期的约4万亿美元陡增至年末的7.5万亿美元，最新大概达到8万亿美元。这使全球的美元流动性不断膨胀，并造成大宗初级商品的价格大幅上涨，包括粮食也出现罕见的涨价现象，全球对通胀的担忧由此产生。\n于学军认为，随着美国抗疫形势出现好转，在货币超宽松刺激政策累加的作用之下，美国经济出现强势反弹，最新据经合组织OECD中期经济展望预测，今年美国经济将增长6.9%，比之前的预测调高了0.4个百分点。\n针对这些新变化，美联储在6月最新的议息会议上已开始释放鹰派信号，市场预计美联储加息或提前一年至2022年下半年。另外通货膨胀预期也被大幅上调，预计2021年美国的PCE及个人消费支出价格指数将升到3.4%，较3月的预测值上调1个百分点。于学军称，\n\n “我们处于这样一个宏观调控政策有可能随时发生调整变化的窗口期，所以市场表现极为敏感，一个信息、美联储的一句措词都有可能引起市场的巨大波动。现在粮食、铁矿石、石油、黄金、汇率几乎每天都出现上涨、下跌，有不同的变化，没有一致的方向，处在这样的一个敏感期。”\n\n为什么短期常态难回归呢？他给出两个原因：\n一是新冠疫情的冲击太大，现在疫情控制仍然难以预料。另外，疫情控制之后其对人类社会产生的重大影响，尤其是对经济活动的影响，也需要一个时间进行评估。\n二是各国超宽松的刺激性政策形成了重大影响，这些政策的退出需要一个较长的过程，并且覆水难收，尤其是美联储投放出去的基础货币很难在短期收回，也许会成为一段历史永远保留下去。\n\n “2008年美国发生金融危机之后，美联储就实行了量化宽松的货币政策，这个之前美联储的资产负债表不到9000亿美元，后来最高增加到了4.5万亿美元，现在又增加到8万亿美元。这样计算下来，\n 预计最终美联储的资产负债表将比2008年金融危机之前提高10倍以上，这些大量的美元流动性投入到世界各地，对全球经济金融市场形成巨大影响，尤其是下一步对通货膨胀的影响，我认为短期内难以消除，也难以准确评估。”","news_type":1,"symbols_score_info":{"000001.SH":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":4138,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126975929,"gmtCreate":1624543393761,"gmtModify":1703839901676,"author":{"id":"3569896467959373","authorId":"3569896467959373","name":"Kaslim","avatar":"https://static.tigerbbs.com/f82c85a933438b27edc2f005ba118976","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569896467959373","idStr":"3569896467959373"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/126975929","repostId":"1121154040","repostType":4,"repost":{"id":"1121154040","kind":"news","pubTimestamp":1624539354,"share":"https://ttm.financial/m/news/1121154040?lang=en_US&edition=fundamental","pubTime":"2021-06-24 20:55","market":"us","language":"zh","title":"Big reveal: Windows 11 is coming tonight! What updates can we see?","url":"https://stock-news.laohu8.com/highlight/detail?id=1121154040","media":"腾讯科技","summary":"被微软CEO纳德拉称之为Windows十年来“最重要的更新”即将到来。","content":"<p>At 11 PM Beijing time on June 24th,<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>A new product launch event is about to be held, with what Microsoft CEO Satya Nadella calls the \"most important update\" to Windows in a decade.</p><p>Although Microsoft has not confirmed the upcoming new product release in any public setting, the major leak of the Windows 11 development version on June 16 has made the matter less mysterious. Windows 11 will be the main focus of tonight's launch event, and Microsoft has already showcased the most important update of the decade for Windows to us in all aspects before the event.</p><p>However, this press conference is not entirely without its highlights; there are still some details worth paying attention to.</p><p><b>What improvements can Windows 11 make to touch and gestures?</b></p><p><img src=\"https://static.tigerbbs.com/6bd9316044d53f9972729e9b791817e4\" tg-width=\"641\" tg-height=\"421\" referrerpolicy=\"no-referrer\"></p><p>After experiencing the development version of Windows 11, many people found that this so-called \"major version\" did not make any significant functional improvements compared to the previous Windows 10, except for some Design adjustments to the interface to make it more in line with Microsoft's Fluent Design language.</p><p>Some users even gave it a Windows 10 skin after experiencing the Windows 11 development version.</p><p>To some extent, Windows 11 is indeed not as significant a design improvement as it was when we switched from Win8 to Win10. However, if you understand Microsoft's previous design evolution on Windows, you will find that the current version of Windows 11 actually has a very similar design to Windows 10X, which Microsoft has already canceled.</p><p>Features that appeared in the Windows 11 development version, such as \"centering the Start Menu and multitasking on the same screen,\" were originally standard features of Windows 10X.</p><p>Therefore, the leaked Windows 11 is more like an iteration of the previous Windows 10X. However, since 10X is a product designed by Microsoft for dual touch screens, what touch-enabled features Windows 11 will add to the system will be an important point of interest at tonight's launch event.</p><p>Microsoft has confirmed that it plans to \"innovate and develop exciting sensor technologies\" for future versions of Windows. As part of Windows 11 or an upcoming Windows update, popular features such as \"user presence detection,\" gesture detection, and ambient light will be improved to \"deliver a dazzling user experience on Windows.\"</p><p>This means that Microsoft hopes to achieve a fusion of desktop and mobile devices through the new Windows 11. Although Microsoft's current mobile phone projects are basically in a semi-abandoned state, the Surface still requires touch operation to achieve an excellent experience in more usage scenarios. Therefore, the improvements in touch and gestures in Windows 11 are very important.</p><p><b>Brand new Windows App Store?</b></p><p><img src=\"https://static.tigerbbs.com/f95bc54f95bce56f6cd39680c5670f5e\" tg-width=\"641\" tg-height=\"410\" referrerpolicy=\"no-referrer\"></p><p>Although MacOS's App Store doesn't have a strong presence, the App Store currently offered by Windows 10 seems even less important in comparison.</p><p>However, this may be greatly improved in Windows 11, which arrives tonight.</p><p>According to media reports, Microsoft has been developing a brand new app store that is more inclusive and free. Microsoft plans to introduce more developers to the new app store, such as apps like Chorme or Firefox, which will be available for download in the Microsoft app store in the future.</p><p>Another major improvement will be in the payment mechanism. Microsoft may allow developers to bypass Microsoft's payment mechanism in the new App store and make in-app payments through third-party payment mechanisms in exchange for a 15% reduction in Microsoft's commission.</p><p>Don't be surprised if this comes true at tonight's press conference, since Microsoft is now uniting with Epic to resist...<a href=\"https://laohu8.com/S/AAPL\">Apple</a>The App Store's high \"Apple tax\". This move could influence the reshuffling of app service pricing methods by large companies like Microsoft, Apple, and Google in the coming years.</p><p>Microsoft recently announced that it will reduce the purchase commission for games listed in its App Store from 30% to 12%. This significant discount has put a lot of pressure on App stores like Steam.</p><p><b>Will Windows 11 focus on improving the user experience for professional users?</b></p><p>As the world's largest desktop operating system, Windows' professional capabilities have been overlooked by many people. In this Windows 11 development version, we actually saw Microsoft's optimizations and improvements for some professional users.</p><p>In the new Windows 11, Microsoft has improved the display for switching between multiple desktops, while also providing better support for multiple monitors. This has, to some extent, solved the problems that high-end users have accumulated over many years regarding multitasking.</p><p><img src=\"https://static.tigerbbs.com/e9e63bb5de9abe3a6b4ddd323172017f\" tg-width=\"641\" tg-height=\"513\" referrerpolicy=\"no-referrer\"></p><p>Meanwhile, Windows 11 has also focused more on improving the experience for game users. On this brand-new operating system, the new Xbox app is now integrated into Windows 11, providing quick access to Xbox Game Pass games, the social sections of the Xbox network, and the Xbox Store.</p><p>Meanwhile, Windows 11 has already been tested on XBox, and we hope to see more XBox features incorporated into the desktop, such as providing automatic HDR display or faster game loading speeds, to improve the PC gaming experience.</p><p><b>Free upgrade?</b></p><p><img src=\"https://static.tigerbbs.com/3eb69ed623b5cc7b7239d753886fda0b\" tg-width=\"641\" tg-height=\"362\" referrerpolicy=\"no-referrer\"></p><p>Yes, this is what we most want to see on Windows 11.</p><p>When Microsoft previously upgraded Windows 7/8 to Windows 10, it used a free upgrade method, allowing all users to upgrade to the corresponding Windows 10 version. We hope that the free service will still appear on Windows 11.</p><p>The market has successfully told Microsoft that there is no point in charging users to upgrade their systems. As an operating system development company, Microsoft relies on OEM licensing and commercial licensing for more of its software revenue. Therefore, it is very likely that Windows 11 will still use the same free upgrade method as Windows 10.</p><p>Although Microsoft has sneaked Windows 11 away, it has actually left us with a lot of suspense. These answers may be revealed when Microsoft officially holds its new product launch event at 11 PM Beijing time on June 24th.</p>","source":"lsy1580517846866","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Big reveal: Windows 11 is coming tonight! What updates can we see?</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\">\nBig reveal: Windows 11 is coming tonight! What updates can we see?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">腾讯科技</strong><span class=\"h-time small\">2021-06-24 20:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p>At 11 PM Beijing time on June 24th,<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>A new product launch event is about to be held, with what Microsoft CEO Satya Nadella calls the \"most important update\" to Windows in a decade.</p><p>Although Microsoft has not confirmed the upcoming new product release in any public setting, the major leak of the Windows 11 development version on June 16 has made the matter less mysterious. Windows 11 will be the main focus of tonight's launch event, and Microsoft has already showcased the most important update of the decade for Windows to us in all aspects before the event.</p><p>However, this press conference is not entirely without its highlights; there are still some details worth paying attention to.</p><p><b>What improvements can Windows 11 make to touch and gestures?</b></p><p><img src=\"https://static.tigerbbs.com/6bd9316044d53f9972729e9b791817e4\" tg-width=\"641\" tg-height=\"421\" referrerpolicy=\"no-referrer\"></p><p>After experiencing the development version of Windows 11, many people found that this so-called \"major version\" did not make any significant functional improvements compared to the previous Windows 10, except for some Design adjustments to the interface to make it more in line with Microsoft's Fluent Design language.</p><p>Some users even gave it a Windows 10 skin after experiencing the Windows 11 development version.</p><p>To some extent, Windows 11 is indeed not as significant a design improvement as it was when we switched from Win8 to Win10. However, if you understand Microsoft's previous design evolution on Windows, you will find that the current version of Windows 11 actually has a very similar design to Windows 10X, which Microsoft has already canceled.</p><p>Features that appeared in the Windows 11 development version, such as \"centering the Start Menu and multitasking on the same screen,\" were originally standard features of Windows 10X.</p><p>Therefore, the leaked Windows 11 is more like an iteration of the previous Windows 10X. However, since 10X is a product designed by Microsoft for dual touch screens, what touch-enabled features Windows 11 will add to the system will be an important point of interest at tonight's launch event.</p><p>Microsoft has confirmed that it plans to \"innovate and develop exciting sensor technologies\" for future versions of Windows. As part of Windows 11 or an upcoming Windows update, popular features such as \"user presence detection,\" gesture detection, and ambient light will be improved to \"deliver a dazzling user experience on Windows.\"</p><p>This means that Microsoft hopes to achieve a fusion of desktop and mobile devices through the new Windows 11. Although Microsoft's current mobile phone projects are basically in a semi-abandoned state, the Surface still requires touch operation to achieve an excellent experience in more usage scenarios. Therefore, the improvements in touch and gestures in Windows 11 are very important.</p><p><b>Brand new Windows App Store?</b></p><p><img src=\"https://static.tigerbbs.com/f95bc54f95bce56f6cd39680c5670f5e\" tg-width=\"641\" tg-height=\"410\" referrerpolicy=\"no-referrer\"></p><p>Although MacOS's App Store doesn't have a strong presence, the App Store currently offered by Windows 10 seems even less important in comparison.</p><p>However, this may be greatly improved in Windows 11, which arrives tonight.</p><p>According to media reports, Microsoft has been developing a brand new app store that is more inclusive and free. Microsoft plans to introduce more developers to the new app store, such as apps like Chorme or Firefox, which will be available for download in the Microsoft app store in the future.</p><p>Another major improvement will be in the payment mechanism. Microsoft may allow developers to bypass Microsoft's payment mechanism in the new App store and make in-app payments through third-party payment mechanisms in exchange for a 15% reduction in Microsoft's commission.</p><p>Don't be surprised if this comes true at tonight's press conference, since Microsoft is now uniting with Epic to resist...<a href=\"https://laohu8.com/S/AAPL\">Apple</a>The App Store's high \"Apple tax\". This move could influence the reshuffling of app service pricing methods by large companies like Microsoft, Apple, and Google in the coming years.</p><p>Microsoft recently announced that it will reduce the purchase commission for games listed in its App Store from 30% to 12%. This significant discount has put a lot of pressure on App stores like Steam.</p><p><b>Will Windows 11 focus on improving the user experience for professional users?</b></p><p>As the world's largest desktop operating system, Windows' professional capabilities have been overlooked by many people. In this Windows 11 development version, we actually saw Microsoft's optimizations and improvements for some professional users.</p><p>In the new Windows 11, Microsoft has improved the display for switching between multiple desktops, while also providing better support for multiple monitors. This has, to some extent, solved the problems that high-end users have accumulated over many years regarding multitasking.</p><p><img src=\"https://static.tigerbbs.com/e9e63bb5de9abe3a6b4ddd323172017f\" tg-width=\"641\" tg-height=\"513\" referrerpolicy=\"no-referrer\"></p><p>Meanwhile, Windows 11 has also focused more on improving the experience for game users. On this brand-new operating system, the new Xbox app is now integrated into Windows 11, providing quick access to Xbox Game Pass games, the social sections of the Xbox network, and the Xbox Store.</p><p>Meanwhile, Windows 11 has already been tested on XBox, and we hope to see more XBox features incorporated into the desktop, such as providing automatic HDR display or faster game loading speeds, to improve the PC gaming experience.</p><p><b>Free upgrade?</b></p><p><img src=\"https://static.tigerbbs.com/3eb69ed623b5cc7b7239d753886fda0b\" tg-width=\"641\" tg-height=\"362\" referrerpolicy=\"no-referrer\"></p><p>Yes, this is what we most want to see on Windows 11.</p><p>When Microsoft previously upgraded Windows 7/8 to Windows 10, it used a free upgrade method, allowing all users to upgrade to the corresponding Windows 10 version. We hope that the free service will still appear on Windows 11.</p><p>The market has successfully told Microsoft that there is no point in charging users to upgrade their systems. As an operating system development company, Microsoft relies on OEM licensing and commercial licensing for more of its software revenue. Therefore, it is very likely that Windows 11 will still use the same free upgrade method as Windows 10.</p><p>Although Microsoft has sneaked Windows 11 away, it has actually left us with a lot of suspense. These answers may be revealed when Microsoft officially holds its new product launch event at 11 PM Beijing time on June 24th.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/g8NrMXShsncnruGuc8TTjw\">腾讯科技</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a04bf2da8ab76e823e11aa8e2f8fa5a2","relate_stocks":{"MSFT":"微软"},"source_url":"https://mp.weixin.qq.com/s/g8NrMXShsncnruGuc8TTjw","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1121154040","content_text":"北京时间6月24日晚11点，微软将召开一场新品发布会，被微软CEO纳德拉称之为Windows十年来“最重要的更新”即将到来。\n尽管微软并没有在任何的公开场合确认过即将发布的新品，但因为6月16日Windows 11开发版本的重大泄露，让这件事变得没有那么神秘了。Windows 11将会成为今晚发布会的主角，而微软口中Windows十年最重要的更新，也已经在发布会之前就全方位的展示给我们了。\n但关于这场发布会，也不能说完全没有看点，其中还有一些细节值得我们关注。\nWindows 11在触摸和手势上能有何改善？\n\n很多人在体验过Windows 11的开发版本之后，发现这个所谓的“大版本”和之前的Windows 10相比，除了在界面上进行了一些设计调整，让它更贴合微软Fluent Design设计语言外，并让没有非常明显的功能性改进。\n甚至有的用户在体验完Windows 11开发版之后，给它了一个Windows 10皮肤的定位。\n从一定程度上讲，Windows 11确实不如之前从Win8转Win10时，设计改进巨大。但实际上如果你了解之前微软在Windows上的设计演进外，你会发现当下这个版本Windows 11实际上和已经被微软砍掉的Windows 10X有着极为相似的设计。\n包括“开始菜单居中、同屏多任务布局”等等在Windows 11开发版上出现的功能，原来都是Windows 10X的标配。\n所以目前泄露的Windows 11，更像是之前Windows 10X的迭代版本。但由于10X是微软为触摸双屏幕打造的产品，因此Windows 11将会在系统上增加哪些支持触摸操作的特性，将会成为今晚发布会上重要的看点。\n微软方面已经确认，正计划为未来的Windows版本 “创新和开发令人兴奋的传感器技术”。作为Windows 11或即将到来的Windows更新的一部分，“用户存在检测”、手势检测和环境光等流行功能将得到改进，以 “实现Windows上令人眼花缭乱的用户体验”。\n这意味着微软希望通过新的Windows 11来实现桌面和移动端的融合，尽管微软目前的手机项目基本上处于半放弃状态，但Surface依然需要触摸操作来实现在更多使用场景下的出色体验，因此Windows 11在触摸和手势上的改进，非常重要。\n全新的Windows App Store？\n\n尽管MacOS的App Store存在感也不强，但是相比之下，Windows 10目前提供的应用商店显得更加鸡肋。\n不过这件事可能会在今晚到来的Windows 11上大为改善。\n据媒体报道，微软一直在开发一个全新的应用商店，它更加的海纳百川也更加的自由。微软计划在新的应用商店中引入更多的开发者，比如Chorme或者Firefox这样的应用，未来都可以在微软应用商店进行下载。\n另外一个重大的改进，将会是支付机制上。微软或许将在新的应用商店中允许开发者绕过微软的支付机制，通过第三方的支付机制实现App内付款，以换得减免15%的微软抽成。\n如果这件事在今天晚上的发布会上成真，请别惊讶，毕竟微软现在正和Epic统一战线，以抵制苹果App Store高昂的“苹果税”。此举可能会影响到未来几年内，微软、苹果、Google这样的大公司，在应用服务上的收费方式重新洗牌。\n微软最近也宣布了将自家App Store中上架游戏的购买抽成从之前的30%降到12%，这大幅的优惠，让Steam这样的应用商店倍感压力。\nWindows 11将重点提升专业用户的使用感受？\nWindows作为全球最大的桌面操作系统，其专业能力其实一直被很多人忽视。而在此次Windows 11开发版中，我们其实看到了微软对于一些专业用户的优化改进。\n微软在新的Windows 11中，改善了多桌面之间切换的显示方式，同时对于多显示器的支持，也更加的出色，这从一定程度上解决了高端用户对于多任务处理上，多年积累的问题。\n\n同时Windows 11也更专注的改善了游戏用户的体验。在这套全新的操作系统上，新的Xbox应用程序现已集成到Windows 11中，提供对Xbox Game Pass游戏、Xbox网络的社交部分和Xbox商店的快速访问。\n同时目前Windows 11也已经在XBox上进行了测试，我们也希望看到更多XBox的功能被纳入到桌面端来，比如提供自动HDR显示功能，或者是更快的游戏加载速度等等，一次提升PC在游戏方面的体验。\n免费升级？\n\n是的，这是我们最希望在Windows 11上看到的。\n微软之前在Windows 7/8升级Windows 10时，采用了免费升级的方式，所有用户都可以升级对应的Win10版本。我们希望免费这件事，依然会出现在Windows 11上。\n市场已经成功的告诉微软，从用户手里收钱升级系统这件事是没有意义的，微软作为一家操作系统开发公司，更多软件的收入要来自OEM授权和商业许可。因此很有可能Win11依然会采用之前Win10免费升级的方式。\n尽管微软Windows 11已经偷跑，但实际上微软还是留下了不少悬念给我们。北京时间6月24日23点，微软正式召开新品发布会之时，这些答案可能会被揭开。","news_type":1,"symbols_score_info":{"MSFT":0.9}},"isVote":1,"tweetType":1,"viewCount":4486,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126971147,"gmtCreate":1624543318789,"gmtModify":1703839896132,"author":{"id":"3569896467959373","authorId":"3569896467959373","name":"Kaslim","avatar":"https://static.tigerbbs.com/f82c85a933438b27edc2f005ba118976","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569896467959373","idStr":"3569896467959373"},"themes":[],"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/126971147","repostId":"1199120523","repostType":4,"repost":{"id":"1199120523","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":1624541451,"share":"https://ttm.financial/m/news/1199120523?lang=en_US&edition=fundamental","pubTime":"2021-06-24 21:30","market":"us","language":"zh","title":"Opening: Nasdaq and S&P 500 hit new highs! Technology stocks continue their strong performance","url":"https://stock-news.laohu8.com/highlight/detail?id=1199120523","media":"老虎资讯综合","summary":"6月24日（周四），纳斯达克综合指数开盘上涨91.1点，涨幅0.64%，报14362.8点；标普500指数开盘上涨22.36点，涨幅0.53%，报4264.20点；道琼斯指数开盘上涨182.35点，涨","content":"<p>On Thursday, June 24, the Nasdaq Composite Index opened 91.1 points higher, or 0.64%, at 14,362.8. The S&P 500 opened up 22.36 points, or 0.53%, at 4264.20. The Dow Jones Industrial Average opened up 182.35 points, or 0.54%, at 34,056.59.</p><p><img src=\"https://static.tigerbbs.com/95f1bc6c5ee7460a3506f35d137a3a29\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><img src=\"https://static.tigerbbs.com/90f02b2081ef4cd205fc04be09117cd5\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><a href=\"https://laohu8.com/S/XPEV\">XPeng Automotive</a>XPeng Motors opened 0.8% higher after announcing that its highest public offering price in Hong Kong would be HK$180 or US$23.19 per share (equivalent to US$46.39 per ADS).</p><p><a href=\"https://laohu8.com/S/UXIN\">Uxin</a>It opened up more than 5%. At today's regular press conference held by the Ministry of Commerce, spokesperson Gao Feng stated that the Ministry of Commerce is working with relevant departments to accelerate the development of the used car market by removing restrictions on the transfer of used cars and facilitating used car transactions.</p><p><a href=\"https://laohu8.com/S/LLY\">Eli Lilly</a>It rose more than 8% after its Alzheimer's disease treatment drug donanemab received breakthrough therapy certification from the U.S. Food and Drug Administration.</p><p><a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>It opened up 0.51%. Microsoft's stock price hit a record high during trading on Wednesday, with a total market capitalization of $2 trillion. At 23:00 Beijing time tonight, Microsoft will release the new generation of Windows system, Win11. It is understood that the next generation of Windows will provide a variety of features designed for the \"post-pandemic world\".</p><p><a href=\"https://laohu8.com/S/TSLA\">Tesla</a>It rose more than 2% in pre-market trading. Previously, the Tesla Model 3 was named the most produced car in the United States in 2021 by Cars.com, an American online car sales service.</p><p>Newly listed stocks, customer experience management platform<a href=\"https://laohu8.com/S/CXM\">sprinkler</a>It rose more than 15%, and closed up 10% on its first day of trading yesterday.</p><p><a href=\"https://laohu8.com/S/LAZR\">luminaire</a>Shares rose more than 10%, indicating that its LiDAR technology will become standard equipment in Volvo's upcoming all-electric flagship car.</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>Opening: Nasdaq and S&P 500 hit new highs! Technology stocks continue their strong performance</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\">\nOpening: Nasdaq and S&P 500 hit new highs! Technology stocks continue their strong performance\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-06-24 21:30</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On Thursday, June 24, the Nasdaq Composite Index opened 91.1 points higher, or 0.64%, at 14,362.8. The S&P 500 opened up 22.36 points, or 0.53%, at 4264.20. The Dow Jones Industrial Average opened up 182.35 points, or 0.54%, at 34,056.59.</p><p><img src=\"https://static.tigerbbs.com/95f1bc6c5ee7460a3506f35d137a3a29\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><img src=\"https://static.tigerbbs.com/90f02b2081ef4cd205fc04be09117cd5\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><a href=\"https://laohu8.com/S/XPEV\">XPeng Automotive</a>XPeng Motors opened 0.8% higher after announcing that its highest public offering price in Hong Kong would be HK$180 or US$23.19 per share (equivalent to US$46.39 per ADS).</p><p><a href=\"https://laohu8.com/S/UXIN\">Uxin</a>It opened up more than 5%. At today's regular press conference held by the Ministry of Commerce, spokesperson Gao Feng stated that the Ministry of Commerce is working with relevant departments to accelerate the development of the used car market by removing restrictions on the transfer of used cars and facilitating used car transactions.</p><p><a href=\"https://laohu8.com/S/LLY\">Eli Lilly</a>It rose more than 8% after its Alzheimer's disease treatment drug donanemab received breakthrough therapy certification from the U.S. Food and Drug Administration.</p><p><a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>It opened up 0.51%. Microsoft's stock price hit a record high during trading on Wednesday, with a total market capitalization of $2 trillion. At 23:00 Beijing time tonight, Microsoft will release the new generation of Windows system, Win11. It is understood that the next generation of Windows will provide a variety of features designed for the \"post-pandemic world\".</p><p><a href=\"https://laohu8.com/S/TSLA\">Tesla</a>It rose more than 2% in pre-market trading. Previously, the Tesla Model 3 was named the most produced car in the United States in 2021 by Cars.com, an American online car sales service.</p><p>Newly listed stocks, customer experience management platform<a href=\"https://laohu8.com/S/CXM\">sprinkler</a>It rose more than 15%, and closed up 10% on its first day of trading yesterday.</p><p><a href=\"https://laohu8.com/S/LAZR\">luminaire</a>Shares rose more than 10%, indicating that its LiDAR technology will become standard equipment in Volvo's upcoming all-electric flagship car.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ff6e3231d788a5a6d28cf7965385cc7f","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199120523","content_text":"6月24日（周四），纳斯达克综合指数开盘上涨91.1点，涨幅0.64%，报14362.8点；标普500指数开盘上涨22.36点，涨幅0.53%，报4264.20点；道琼斯指数开盘上涨182.35点，涨幅0.54%，报34056.59点。\n\n\n小鹏汽车开盘涨0.8%，小鹏汽车公布：香港公开发行的最高发行价为每股180港元或23.19美元(相等于每ADS 46.39美元)。\n优信开盘涨超5%。在今天商务部举行的例行新闻发布会上，新闻发言人高峰表示，商务部正会同有关部门，围绕取消二手车限迁政策、便利二手车交易等推动二手车市场加快发展。\n礼来开涨逾8%，其阿尔茨海默病治疗药物donanemab获美国食品药品监督管理局突破性疗法认证。\n微软开盘涨0.51%。微软股价周三盘中创历史新高，总市值达两万亿美元。北京时间今晚23:00，微软将发布全新一代Windows系统Win11。据悉，新一代Windows将提供多方面为“后疫情世界”设计的功能。\n特斯拉盘前涨超2%。此前特斯拉Model 3被美国在线汽车销售服务商Cars.com评为2021年美国制造最多的汽车。\n次新股、客户体验管理平台Sprinklr涨超15%，昨日上市首日收涨10%。\nLuminar涨超10%，其激光雷达技术将成为沃尔沃即将推出的全电动旗舰车的标准配备。","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":4676,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":321716430,"gmtCreate":1615470086420,"gmtModify":1704783190476,"author":{"id":"3569896467959373","authorId":"3569896467959373","name":"Kaslim","avatar":"https://static.tigerbbs.com/f82c85a933438b27edc2f005ba118976","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569896467959373","idStr":"3569896467959373"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/321716430","repostId":"1136225097","repostType":4,"repost":{"id":"1136225097","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":1615192483,"share":"https://ttm.financial/m/news/1136225097?lang=en_US&edition=fundamental","pubTime":"2021-03-08 16:34","market":"uk","language":"zh","title":"Starting March 14, US stocks will enter daylight saving time, with both opening and closing trading one hour earlier.","url":"https://stock-news.laohu8.com/highlight/detail?id=1136225097","media":"老虎资讯综合","summary":"美东时间3月14日2:00（北京时间3月14日起），北美地区开始实行夏令时，美股市场开盘和收盘均将提前一小时，至美东时间2021年11月7日结束。即美股交易时间更改为北京时间21:30至次日凌晨04:","content":"<p>At 2:00 AM Eastern Time on March 14 (starting March 14 Beijing Time), North America will implement Daylight Saving Time, and the US stock market will open and close one hour earlier, ending on November 7, 2021 Eastern Time.</p><p>This means that US stock trading hours have been changed to 21:30 Beijing time to 04:00 the following morning, pre-market trading hours from 16:00 to 21:30, and after-market trading hours from 04:00 to 08:00. March 15th was the first trading day for US stocks after the start of daylight saving time.</p><p>Daylight saving time in Europe will officially end on March 28, Beijing time, and the country will switch to summer time.</p><p><b>Additional background:</b></p><p>Daylight saving time, also known as Daylight saving time or Summer time, is a system of artificially determining local time in order to save energy. The uniform time used during the implementation of this system is called \"daylight saving time\". In summer, when dawn breaks early, the time is usually advanced by one hour. This allows people to get up early and go to bed early to reduce the amount of lighting and make full use of sunlight to save electricity.</p><p>It is understood that daylight saving time originated in the United States in 1918, when the United States first implemented daylight saving time when it entered World War I, but it was immediately abolished after the war and reinstated in 1966.</p><p>Whether or not to implement daylight saving time in the United States is entirely up to each state and county, and is not uniformly regulated by the federal government. Currently, most parts of the United States observe daylight saving time. Areas in the United States that do not observe daylight saving time include most of Arizona, but a small part of the northeastern part of the state observes daylight saving time. Hawaii; Puerto Rico and the Virgin Islands; American Samoa, Guam and the Northern Mariana Islands.<img src=\"https://static.tigerbbs.com/2b3c5afcedf9e4a595b7e8bdffd98507\" tg-width=\"1920\" tg-height=\"1200\" 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>Starting March 14, US stocks will enter daylight saving time, with both opening and closing trading one hour earlier.</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\">\nStarting March 14, US stocks will enter daylight saving time, with both opening and closing trading one hour earlier.\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\">2021-03-08 16:34</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>At 2:00 AM Eastern Time on March 14 (starting March 14 Beijing Time), North America will implement Daylight Saving Time, and the US stock market will open and close one hour earlier, ending on November 7, 2021 Eastern Time.</p><p>This means that US stock trading hours have been changed to 21:30 Beijing time to 04:00 the following morning, pre-market trading hours from 16:00 to 21:30, and after-market trading hours from 04:00 to 08:00. March 15th was the first trading day for US stocks after the start of daylight saving time.</p><p>Daylight saving time in Europe will officially end on March 28, Beijing time, and the country will switch to summer time.</p><p><b>Additional background:</b></p><p>Daylight saving time, also known as Daylight saving time or Summer time, is a system of artificially determining local time in order to save energy. The uniform time used during the implementation of this system is called \"daylight saving time\". In summer, when dawn breaks early, the time is usually advanced by one hour. This allows people to get up early and go to bed early to reduce the amount of lighting and make full use of sunlight to save electricity.</p><p>It is understood that daylight saving time originated in the United States in 1918, when the United States first implemented daylight saving time when it entered World War I, but it was immediately abolished after the war and reinstated in 1966.</p><p>Whether or not to implement daylight saving time in the United States is entirely up to each state and county, and is not uniformly regulated by the federal government. Currently, most parts of the United States observe daylight saving time. Areas in the United States that do not observe daylight saving time include most of Arizona, but a small part of the northeastern part of the state observes daylight saving time. Hawaii; Puerto Rico and the Virgin Islands; American Samoa, Guam and the Northern Mariana Islands.<img src=\"https://static.tigerbbs.com/2b3c5afcedf9e4a595b7e8bdffd98507\" tg-width=\"1920\" tg-height=\"1200\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/2b3c5afcedf9e4a595b7e8bdffd98507","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136225097","content_text":"美东时间3月14日2:00（北京时间3月14日起），北美地区开始实行夏令时，美股市场开盘和收盘均将提前一小时，至美东时间2021年11月7日结束。即美股交易时间更改为北京时间21:30至次日凌晨04:00，盘前交易时间为16:00至21:30，盘后交易时间为04:00至08:00。3月15日为进入夏令时后美股首个交易日。欧洲地区的冬令时时间将会在北京时间 3月28日正式结束，转为夏令时时间。背景补充：夏时制，又称日光节约时制（英语：Daylight saving time）和夏令时间（英语：Summer time），是一种为节约能源而人为规定地区时间的制度。该制度实行期间所采用的统一时间称为“夏令时”。一般在天亮早的夏季人为将时间提前1小时，这样可使人早起早睡减少照明量，以充分利用日光节约用电。据了解，美国“夏令时”起源于1918年，当时的美国在参加第一次世界大战时首次实行夏时制，但战后立即取消，与1966年再次恢复。美国夏时制的实行与否，完全由各州、各县自行决定，不由联邦政府统一规定。目前美国绝大部分地区实行夏令时，美国不实行夏令时的地区包括：亚利桑那州大部分地区，但该州东北的一小部分使用夏令时；夏威夷州；波多黎各和维京群岛；美属萨摩亚、关岛和北马里亚纳群岛。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":4639,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":389015656,"gmtCreate":1612620509175,"gmtModify":1704873247449,"author":{"id":"3569896467959373","authorId":"3569896467959373","name":"Kaslim","avatar":"https://static.tigerbbs.com/f82c85a933438b27edc2f005ba118976","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569896467959373","idStr":"3569896467959373"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/389015656","repostId":"1157800725","repostType":4,"repost":{"id":"1157800725","kind":"news","pubTimestamp":1612573220,"share":"https://ttm.financial/m/news/1157800725?lang=en_US&edition=fundamental","pubTime":"2021-02-06 09:00","market":"us","language":"zh","title":"When Luckin Coffee files for bankruptcy protection, does it protect the company or its investors?","url":"https://stock-news.laohu8.com/highlight/detail?id=1157800725","media":"第一财经","summary":"2月5日，瑞幸咖啡（LKNCY.O）在公司官网发布了公司正申请破产保护的公告。该公告称，公司根据《破产法》第11篇第15章（Chapter 15 Petition）向美国纽约南区破产法院提出申请。目前","content":"<p><div>On February 5, Luckin Coffee (LKNCY.O) announced on its official website that it was applying for bankruptcy protection. The announcement stated that the company filed a Petition with the U.S. Bankruptcy Court for the Southern District of New York under Chapter 15 of Title 11 of the Bankruptcy Code. The company is currently in negotiations with its stakeholders regarding a financial restructuring to strengthen its balance sheet, enabling it to continue operating while serving the interests of all stakeholders. Luckin Coffee stated that all of its stores are currently open, providing its customers in China with high-quality, affordable, and...</p><p><a href=\"https://www.yicai.com/news/100942873.html\">Web page link</a></div></p>","source":"dyvj","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>When Luckin Coffee files for bankruptcy protection, does it protect the company or its investors?</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\">\nWhen Luckin Coffee files for bankruptcy protection, does it protect the company or its investors?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">第一财经</strong><span class=\"h-time small\">2021-02-06 09:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div>On February 5, Luckin Coffee (LKNCY.O) announced on its official website that it was applying for bankruptcy protection. The announcement stated that the company filed a Petition with the U.S. Bankruptcy Court for the Southern District of New York under Chapter 15 of Title 11 of the Bankruptcy Code. The company is currently in negotiations with its stakeholders regarding a financial restructuring to strengthen its balance sheet, enabling it to continue operating while serving the interests of all stakeholders. Luckin Coffee stated that all of its stores are currently open, providing its customers in China with high-quality, affordable, and...</p><p><a href=\"https://www.yicai.com/news/100942873.html\">Web page link</a></div></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.yicai.com/news/100942873.html\">第一财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/324e43c6c2694249d5fc03a098a94f36","relate_stocks":{},"source_url":"https://www.yicai.com/news/100942873.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157800725","content_text":"2月5日，瑞幸咖啡（LKNCY.O）在公司官网发布了公司正申请破产保护的公告。该公告称，公司根据《破产法》第11篇第15章（Chapter 15 Petition）向美国纽约南区破产法院提出申请。目前公司正在与其利益相关者就公司财务重组进行谈判，通过加强公司的资产负债表，使公司能够继续经营，同时为所有利益相关者谋利益。瑞幸咖啡表示，目前公司所有门店均保持营业，为其在中国的客户提供高质量、经济实惠和方便的产品。第15章请愿书的提交预计不会对公司的日常运营产生重大影响。公司将继续在正常业务过程中履行其贸易义务，包括向供应商、供应商和员工付款。大约一年前，一份长达89页的做空报告令瑞幸咖啡股价涨势戛然而止。2020年4月2日，瑞幸咖啡提交给SEC的文件显示，公司董事会成立的专门委员会经过调查初步明确，2019年第二季度到2019年第四季度期间，瑞幸咖啡与虚假交易相关的总销售金额约为22亿元人民币，整个市场哗然，瑞幸咖啡股价接连闪崩。6月29日，瑞幸咖啡正式在纳斯达克交易所停止交易，进入退市程序，从上市到退市不足一年半。2020年底，SEC对瑞幸咖啡发起诉状，称其在公开披露的2019年财务报表中，故意并实质性地夸大了收入和费用，低估其净亏损。此外，在2019年4月到2020年1月期间，瑞幸咖啡从债券和股票投资者那里至少筹集了逾8.64亿美元。在不承认或否认这些指控的情况下，瑞幸咖啡已同意在法庭批准的情况下达成和解，包括永久性禁令和1.8亿美元的罚款。与SEC的诉讼和解之后，瑞幸咖啡还欠投资者一个交代，至少面临投资者的证券集体诉讼（民事诉讼）和美国司法部针对高管的指控（刑事诉讼）。集体诉讼开启后，某些集体成员也有几率选择退出集体诉讼，并单独发起诉讼。瑞幸咖啡的民事诉讼已在进行当中，诉讼程序可能需要至少2~3年，而刑事案件的事件可能会更长。或许是不堪重负，瑞幸咖啡终于提出破产申请。2月5日午后，瑞幸咖啡在其官方微博上称，申请破产保护是错误的理解，“其实这是一个好消息，让瑞幸重生之路又进一步！”瑞幸咖啡表示，作为公司重组的重要步骤，也是开曼程序下常见做法，临时清盘人向美国法院提起程序，寻求美国法院对于公司目前在开曼进行的临时清盘程序的认可。该程序将会暂停美国境内针对公司的诉讼程序，为完成开曼重组创造条件并有序完成重组。值得注意的是，记者查阅过往著名公司的破产申请案例发现，与此次瑞幸不同的是，大多依照的是Chapter 7或11。一位曾经多次参与美国公司破产清算的律师对记者解释，公司申请破产后有多种不同的做法，较为常见的是Chapter 7和Chapter 11。“如果将公司看作病人，Chapter 11犹如给公司做手术，是一场最后关乎“开膛破肚”的救治，而Chapter7则更像是直接宣告公司的“死亡”。”详细来看，如果公司申请Chapter 7可以被理解为清算破产，公司会马上进入清算环节，律师、会计师、法院对公司进行资产清算后，债权人再从公司剩余资金里按顺序分钱。Chapter 11则是重组破产。北京郝俊波律师事务所主任郝俊波对记者称，如果通过Chapter 11，公司可以和债权人进行关于重组的谈判，可以等到有了重组方案才进行偿还，那么在形成这个重组方案之前，公司暂时不用再支付债务，“相当于等于给公司一个缓冲延期的机会。”过去有诸多公司通过Chapter 11获得喘息重生的机会。比如，曾在核技术、燃料及服务领域颇有建树的西屋电器公司（Westinghouse Electric Company）于2017年3月向美国法院申请了Chapter 11破产保护后，Brookfield顺利从日本东芝公司手中收购了西屋，完成转型重组。2001年11月8日，不堪舆论重压的安然被迫承认做了假账，虚报自1997年以来共计近6亿美元的盈利。12月2日，因受到债权人的压力和法律诉讼威胁，公司管理层被迫根据美国破产法第11章申请破产保护，破产清单中所列资产高达498亿美元，成为美国历史上最大的破产企业。从性质上，Chapter 15与 Chapter 11较为相似，正式被称为“《美国法典》第11章的第15章（Chapter 15, Title 11 of the United States Code）”，起源于1978年制定的《美国破产法》第304条。鉴于涉及多个司法管辖区的破产频率不断增加，304在2005年被废止，取而代之的是第15章，标题为“辅助和其他跨境案件”。Chapter 15与 Chapter 11两者最大的区别在于，Chapter 15通常是针对外国个人或实体的次级破产程序，允许外国人在包括在美国在内的多个国家/地区拥有财产或业务的情况下，向美国破产法院申请破产，但主要过程通常在外国公司的母国进行。通过第15章破产，在美国有债务但居住在国外的债务人也可以先在本国申请破产，而在美国的申报被视为次级或辅助申报。数据显示，截至2019年底，2009年、2016年和2019年提交的第Chapter 15破产案件数量最多。在2020年春季，许多外国公司因新冠疫情受困也纷纷申请第15章破产，如法国媒体公司Technicolor SA、加拿大茶叶经销商DAVIDsTEA、澳大利亚航空公司维珍澳大利亚航空、加拿大马戏团太阳马戏团娱乐集团等赫然在列。一旦外国实体根据Chapter 15申请破产，美国破产法院就可以授权受托人或审查员开始行动，并且在不违反美国法律的情况下，允许美国法院向外国代表提供额外的帮助；在外国法院的法律可能缺乏的情况下，允许美国法院为提出破产申请的外国国民提供额外的帮助；赋予外国债权人参与美国破产案的权利；防止在破产案件中对外国债权人的歧视；需要在美国提交的破产案件中通知外国债权人；赋予外国债权人在美国破产案件中提出索赔的权利。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":4371,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":126971147,"gmtCreate":1624543318789,"gmtModify":1703839896132,"author":{"id":"3569896467959373","authorId":"3569896467959373","name":"Kaslim","avatar":"https://static.tigerbbs.com/f82c85a933438b27edc2f005ba118976","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569896467959373","idStr":"3569896467959373"},"themes":[],"title":"","htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/126971147","repostId":"1199120523","repostType":4,"repost":{"id":"1199120523","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":1624541451,"share":"https://ttm.financial/m/news/1199120523?lang=en_US&edition=fundamental","pubTime":"2021-06-24 21:30","market":"us","language":"zh","title":"Opening: Nasdaq and S&P 500 hit new highs! Technology stocks continue their strong performance","url":"https://stock-news.laohu8.com/highlight/detail?id=1199120523","media":"老虎资讯综合","summary":"6月24日（周四），纳斯达克综合指数开盘上涨91.1点，涨幅0.64%，报14362.8点；标普500指数开盘上涨22.36点，涨幅0.53%，报4264.20点；道琼斯指数开盘上涨182.35点，涨","content":"<p>On Thursday, June 24, the Nasdaq Composite Index opened 91.1 points higher, or 0.64%, at 14,362.8. The S&P 500 opened up 22.36 points, or 0.53%, at 4264.20. The Dow Jones Industrial Average opened up 182.35 points, or 0.54%, at 34,056.59.</p><p><img src=\"https://static.tigerbbs.com/95f1bc6c5ee7460a3506f35d137a3a29\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><img src=\"https://static.tigerbbs.com/90f02b2081ef4cd205fc04be09117cd5\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><a href=\"https://laohu8.com/S/XPEV\">XPeng Automotive</a>XPeng Motors opened 0.8% higher after announcing that its highest public offering price in Hong Kong would be HK$180 or US$23.19 per share (equivalent to US$46.39 per ADS).</p><p><a href=\"https://laohu8.com/S/UXIN\">Uxin</a>It opened up more than 5%. At today's regular press conference held by the Ministry of Commerce, spokesperson Gao Feng stated that the Ministry of Commerce is working with relevant departments to accelerate the development of the used car market by removing restrictions on the transfer of used cars and facilitating used car transactions.</p><p><a href=\"https://laohu8.com/S/LLY\">Eli Lilly</a>It rose more than 8% after its Alzheimer's disease treatment drug donanemab received breakthrough therapy certification from the U.S. Food and Drug Administration.</p><p><a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>It opened up 0.51%. Microsoft's stock price hit a record high during trading on Wednesday, with a total market capitalization of $2 trillion. At 23:00 Beijing time tonight, Microsoft will release the new generation of Windows system, Win11. It is understood that the next generation of Windows will provide a variety of features designed for the \"post-pandemic world\".</p><p><a href=\"https://laohu8.com/S/TSLA\">Tesla</a>It rose more than 2% in pre-market trading. Previously, the Tesla Model 3 was named the most produced car in the United States in 2021 by Cars.com, an American online car sales service.</p><p>Newly listed stocks, customer experience management platform<a href=\"https://laohu8.com/S/CXM\">sprinkler</a>It rose more than 15%, and closed up 10% on its first day of trading yesterday.</p><p><a href=\"https://laohu8.com/S/LAZR\">luminaire</a>Shares rose more than 10%, indicating that its LiDAR technology will become standard equipment in Volvo's upcoming all-electric flagship car.</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>Opening: Nasdaq and S&P 500 hit new highs! Technology stocks continue their strong performance</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\">\nOpening: Nasdaq and S&P 500 hit new highs! Technology stocks continue their strong performance\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-06-24 21:30</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On Thursday, June 24, the Nasdaq Composite Index opened 91.1 points higher, or 0.64%, at 14,362.8. The S&P 500 opened up 22.36 points, or 0.53%, at 4264.20. The Dow Jones Industrial Average opened up 182.35 points, or 0.54%, at 34,056.59.</p><p><img src=\"https://static.tigerbbs.com/95f1bc6c5ee7460a3506f35d137a3a29\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><img src=\"https://static.tigerbbs.com/90f02b2081ef4cd205fc04be09117cd5\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p><a href=\"https://laohu8.com/S/XPEV\">XPeng Automotive</a>XPeng Motors opened 0.8% higher after announcing that its highest public offering price in Hong Kong would be HK$180 or US$23.19 per share (equivalent to US$46.39 per ADS).</p><p><a href=\"https://laohu8.com/S/UXIN\">Uxin</a>It opened up more than 5%. At today's regular press conference held by the Ministry of Commerce, spokesperson Gao Feng stated that the Ministry of Commerce is working with relevant departments to accelerate the development of the used car market by removing restrictions on the transfer of used cars and facilitating used car transactions.</p><p><a href=\"https://laohu8.com/S/LLY\">Eli Lilly</a>It rose more than 8% after its Alzheimer's disease treatment drug donanemab received breakthrough therapy certification from the U.S. Food and Drug Administration.</p><p><a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>It opened up 0.51%. Microsoft's stock price hit a record high during trading on Wednesday, with a total market capitalization of $2 trillion. At 23:00 Beijing time tonight, Microsoft will release the new generation of Windows system, Win11. It is understood that the next generation of Windows will provide a variety of features designed for the \"post-pandemic world\".</p><p><a href=\"https://laohu8.com/S/TSLA\">Tesla</a>It rose more than 2% in pre-market trading. Previously, the Tesla Model 3 was named the most produced car in the United States in 2021 by Cars.com, an American online car sales service.</p><p>Newly listed stocks, customer experience management platform<a href=\"https://laohu8.com/S/CXM\">sprinkler</a>It rose more than 15%, and closed up 10% on its first day of trading yesterday.</p><p><a href=\"https://laohu8.com/S/LAZR\">luminaire</a>Shares rose more than 10%, indicating that its LiDAR technology will become standard equipment in Volvo's upcoming all-electric flagship car.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ff6e3231d788a5a6d28cf7965385cc7f","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199120523","content_text":"6月24日（周四），纳斯达克综合指数开盘上涨91.1点，涨幅0.64%，报14362.8点；标普500指数开盘上涨22.36点，涨幅0.53%，报4264.20点；道琼斯指数开盘上涨182.35点，涨幅0.54%，报34056.59点。\n\n\n小鹏汽车开盘涨0.8%，小鹏汽车公布：香港公开发行的最高发行价为每股180港元或23.19美元(相等于每ADS 46.39美元)。\n优信开盘涨超5%。在今天商务部举行的例行新闻发布会上，新闻发言人高峰表示，商务部正会同有关部门，围绕取消二手车限迁政策、便利二手车交易等推动二手车市场加快发展。\n礼来开涨逾8%，其阿尔茨海默病治疗药物donanemab获美国食品药品监督管理局突破性疗法认证。\n微软开盘涨0.51%。微软股价周三盘中创历史新高，总市值达两万亿美元。北京时间今晚23:00，微软将发布全新一代Windows系统Win11。据悉，新一代Windows将提供多方面为“后疫情世界”设计的功能。\n特斯拉盘前涨超2%。此前特斯拉Model 3被美国在线汽车销售服务商Cars.com评为2021年美国制造最多的汽车。\n次新股、客户体验管理平台Sprinklr涨超15%，昨日上市首日收涨10%。\nLuminar涨超10%，其激光雷达技术将成为沃尔沃即将推出的全电动旗舰车的标准配备。","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":4676,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":122766396,"gmtCreate":1624633728315,"gmtModify":1703842392771,"author":{"id":"3569896467959373","authorId":"3569896467959373","name":"Kaslim","avatar":"https://static.tigerbbs.com/f82c85a933438b27edc2f005ba118976","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569896467959373","idStr":"3569896467959373"},"themes":[],"title":"","htmlText":"Tiger game&nbsp;","listText":"Tiger game&nbsp;","text":"Tiger game","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/122766396","repostId":"1186640720","repostType":4,"repost":{"id":"1186640720","kind":"news","pubTimestamp":1624608318,"share":"https://ttm.financial/m/news/1186640720?lang=en_US&edition=fundamental","pubTime":"2021-06-25 16:05","market":"sh","language":"zh","title":"Who is hyping up Pien Tze Huang?","url":"https://stock-news.laohu8.com/highlight/detail?id=1186640720","media":"智通财经APP","summary":"“抢购与炒作齐飞”，今日的神药片仔癀一如2020年的神酒贵州茅台。\n媒体报道，近日，因为消费者疯抢，大量线下门店的片仔癀已经缺货，在淘宝、京东等电商平台，片仔癀官方旗舰店的药品均已售罄。淘宝“片仔癀大","content":"<p>\"Buying sprees and hype soar simultaneously,\" and today's miracle drug Pien Tze Huang is just like the miracle liquor Kweichow Moutai in 2020.</p><p>Media reports indicate that recently, due to a frenzy among consumers, many offline stores have run out of Pien Tze Huang products, and the official flagship stores of Pien Tze Huang have sold out on e-commerce platforms such as Taobao and JD.com. The customer service of Taobao's \"Pien Tze Huang Pharmacy Flagship Store\" said that the restocking time cannot be determined, and it is recommended to save the product first. Other vendors sell Pien Tze Huang for as much as 1,000 yuan per pill.</p><p>Pien Tze Huang's stock price has also been rising steadily, from 100 yuan at the beginning of 2020 to over 400 yuan at present, breaking through the 450 yuan mark on June 25.</p><p>1、<b>Hoarding for speculation? Who is snapping up Pien Tze Huang?</b></p><p>Pien Tze Huang is a liver disease medicine, which is mainly suitable for acute and chronic viral hepatitis caused by heat toxin and blood stasis, and has medical and health care functions. Simply put, Pien Tze Huang can treat fatty liver and alcoholic liver.</p><p>Since Pien Tze Huang went public, it has raised prices 19 times. From 2004 to 2020, domestic retail prices were raised nine times, from 325 yuan to 590 yuan, an increase of 82%.</p><p>Where did the hype surrounding Pien Tze Huang come from?</p><p>One view is that Pien Tze Huang is scarce.</p><p>Is Pien Tze Huang really scarce?</p><p>Due to the impact of the pandemic, many consumers have increased their demand for natural medicinal materials since last year, causing the price of natural musk to rise from 300,000 yuan per kilogram to 400,000 yuan in the past two years. Pien Tze Huang consists of bezoar, musk, Panax notoginseng, and snake bile, with musk alone accounting for 55% of the total cost.</p><p>Some believe that the supply contradiction of raw materials for Pien Tze Huang is more prominent than in previous years. As a scarce variety, Pien Tze Huang is in short supply, and its price is being speculated upwards, creating a \"herd effect\" in investment.</p><p>Regarding the reasons for the latest price increase, Pien Tze Huang issued an announcement in January 2020 stating that, given the rising costs of major raw materials and labor, the company has decided to raise the domestic retail price of its main product, Pien Tze Huang tablets, from 530 yuan/capsule to 590 yuan/capsule, effective from the date of the announcement, and the supply price will be increased by approximately 40 yuan/capsule accordingly.</p><p>However, according to a research report published by Southwest Securities on February 7, 2021, Pien Tze Huang is currently promoting artificial musk deer farming to make up for the insufficient supply of scarce raw materials. The Shaanxi breeding base raises more than 10,000 musk deer, with an estimated annual output of more than 100 kilograms. Both musk and bezoar can meet the capacity expansion needs of three years.</p><p>In other words, the so-called scarcity of raw materials is temporary and does not support the hype surrounding Pien Tze Huang.</p><p>Is there scalpers involved in this hype?</p><p>At the end of April, some netizens revealed that Pien Tze Huang officially entered a purchase restriction policy starting in May 2021, the strictest purchase restriction in history. In the same month, customers can purchase two pills per person per month with their personal ID number and prescription at the experience center to meet the monthly dosage and ensure that long-term medication users will not run out of medication.</p><p>Currently, Pien Tze Huang offline stores in many regions are implementing purchase restrictions. You need to leave your phone number and ID number to make an appointment. Some offline stores even require consumers to \"combine\" purchases, meaning that if you want to buy Pien Tze Huang, you also need to buy other high-priced drugs.</p><p>Analyst Zhu Danpeng stated that the sudden surge in popularity of Pien Tze Huang is undoubtedly related to hype. In the south, especially in the southeastern coastal areas, some consumers believe that Pien Tze Huang has health benefits, and its price has remained high for many years, which has given it some gift attributes.</p><p>Some speculators rushed to buy Pien Tze Huang, waiting for the price to rise, and then sold it off to make huge profits.</p><p>A Pien Tze Huang offline store in Shanghai told the media, \"Not many people bought this medicine before. Two or three months ago, scalpers suddenly started buying it in large quantities. The store had no choice but to start restricting purchases and only open it to regular members.\"</p><p>Are pharmaceuticals being hyped up in conjunction with the capital market?</p><p>Sichuan Securities revealed that some speculative funds may be involved in the hype surrounding Pien Tze Huang.</p><p>The strategy research team at Sichuan Securities believes that behind the sudden supply and demand imbalance, there are inevitably people maliciously hoarding goods, speculating, and even taking the opportunity to profit in the securities market.</p><p>In fact, such hype tactics are not new. In June of this year, a Weibo user verified as the general manager of an asset management company revealed that \"a certain liquor company invited its distributors to buy stock of equivalent value every time they drank alcohol. In the end, the stock price doubled, which meant that the distributors could get the alcohol at zero cost, and the alcohol could be stored for several years and sold slowly.\"</p><p>2、<b>Did mutual funds miss out on Pien Tze Huang?</b></p><p>Unlike in 2020, when mutual funds joined forces to push up leading liquor companies such as Kweichow Moutai and Wuliangye, this time, paradoxically, mutual funds may have completely missed Pien Tze Huang, the \"Moutai of medicine\".</p><p>According to Wind data, at the end of the fourth quarter of 2020, there were 25 public funds holding more than 100,000 shares of Pien Tze Huang: a total of approximately 26.7824 million shares, accounting for about 4.44% of the A-share circulation. Among them are top fund managers such as Ge Lan, Liu Gesong, and Qu Yang.</p><p>However, after the significant fluctuations in blue-chip stocks following the Spring Festival, public data in the first quarter showed that the number of shares held by the top 25 institutions plummeted to 10.0212 million shares, a reduction of more than 60%, accounting for only 1.65% of the A-share circulation ratio.</p><p>At the end of 2020, a total of 101 institutional investors held shares, but by the end of the first quarter of this year, the number of institutional investors had plummeted to 41.</p><p>In the 2021 quarter, Pien Tze Huang also experienced a stock price adjustment. From February 18 to March 9, the stock price fell from 404 yuan to 239 yuan, nearly halved.</p><p>According to publicly available data, most mutual funds sold Pien Tze Huang during the adjustment in the first quarter of 2021.</p><p>However, the main rise in Pien Tze Huang's stock price occurred in the second quarter of 2021. During this process, did mutual funds \"go back to their old ways\" and increase their holdings in Pien Tze Huang? The interim reports of mutual funds and listed companies have not yet been released, so we do not know.</p><p>In the first quarter of 2021, a few mutual funds chose to hold on or even increase their holdings. Huitianfu Value Selection A did not sell a single share and continued to hold 1.5 million shares. Meanwhile, Zhongou Gelan, known in the industry as the \"Goddess of Pharmaceuticals\", bucked the trend and significantly increased its holdings. At the end of the fourth quarter of last year, it only held 272,800 shares of Pien Tze Huang, while at the end of the first quarter, it had already held 2.2149 million shares, an increase of nearly 10 times, showing its strong optimism about the company. Like Ge Lan, newly added GF Healthcare (1.1872 million shares) and Social Security 101 Portfolio (1.0413 million shares) also increased their holdings in the first quarter. Yinhua Wealth Theme also increased its holdings by 1.1998 million shares to 2.7498 million shares in the first quarter, ranking as the sixth largest shareholder.</p><p>3、<b>Is Lin Yuan the man behind Pien Tze Huang?</b></p><p>In the 2018 semi-annual report, the private equity fund managed by private equity tycoon Lin Yuan appeared among the top ten shareholders of Pien Tze Huang with a shareholding ratio of 0.64%. As of the end of June 2020, its three private equity funds held a total of 8.837 million shares of Pien Tze Huang stock.</p><p>However, news broke in the third quarter of 2020 that Lin Yuan had reduced his holdings in Pien Tze Huang, and as of the first quarter of 2021, Lin Yuan's three private equity funds were no longer among the top ten shareholders.</p><p>On June 9, 2021, Lin Yuan sent a representative to attend the Pien Tze Huang shareholders' meeting, where he stated, \"I have invested in Pien Tze Huang stock since 2005 and have not sold a single share to date.\" Previously, Lin Yuan had stated that he had only split his holdings.</p><p>Lin Yuan also sent Pien Tze Huang a warm thank-you letter, which still expressed strong optimism:</p><p>\"Lin Yuan and Lin Yuan Investment have not sold a single share of Pien Tze Huang since they bought it in 2005. Especially during the trade war and the COVID-19 pandemic in my country, including this year, they have been investing heavily, adhering to a long-term perspective, firmly optimistic about the traditional Chinese medicine industry, bullish on China, believing in the fate of the nation, and believing that Pien Tze Huang is a great company. They also believe in its outstanding management team.\" I also wish the company success under General Manager Pan's leadership. Striving to reach new heights, becoming China's calling card and a global luxury brand!</p><p>Previously, on April 21, 2018, Lin Yuan even claimed at an investment report meeting that Pien Tze Huang could be \"brought back to life\".</p><p>“Recently, I chose a Pien Tze Huang. It’s also a pharmaceutical company from Fujian. There are two treasures in Zhangzhou: a daffodil and a Pien Tze Huang. After a Fujianese person dies, the locals also put this medicine in it to see if it can come back to life.”</p><p>Regarding the recent \"hype\" surrounding Pien Tze Huang, Lin Yuan publicly stated, \"They will eventually sell it for the price of two bottles of Moutai.\"</p><p><img src=\"https://static.tigerbbs.com/a6602d2149a718945e18d3b0fdc92cfa\" tg-width=\"608\" tg-height=\"712\" referrerpolicy=\"no-referrer\">4、、<b>Can the price increase of Pien Tze Huang be sustained?</b></p><p>Can Pien Tze Huang really \"sell for the price of two bottles of Moutai\"?</p><p>At the shareholders' meeting of Pien Tze Huang on June 9, 2021, the company stated that it has always been cautious about price increases and does not pursue excessive profits. I disagree with people comparing the prices of Pien Tze Huang and Moutai. Moutai is a grain product and belongs to the category of food; Pien Tze Huang is a medicine, and the pricing and price increase of medicines require more caution and greater consideration of social responsibility. We cannot immediately follow the market trend.</p><p>In fact, as a medicine, Pien Tze Huang always faces pharmaceutical price control. Under the general trend of centralized pharmaceutical procurement, no \"miracle drug\" can sell for sky-high prices.</p><p>On June 25, Pien Tze Huang responded to the recent shortage of its Pien Tze Huang tablets on its interactive platform, stating that the company's production and operation are currently normal. In response to the recent market situation, the company has taken three measures to resolutely maintain market order.</p><p>Although its stock price soared, according to financial reports in recent years, Pien Tze Huang's revenue growth rate was the fastest in 2017, reaching 60.85%. However, the revenue growth rate then began to decline year by year, reaching its lowest point in nearly five years in 2020, at only 13.78%.</p><p>However, Pien Tze Huang's net profit has consistently remained at a high level. After the price increase in 2020, revenue growth dropped to its lowest level in five years, while net profit growth was only 1 percentage point lower than in 2019.</p><p>In fact, Pien Tze Huang's R&D expenses account for a very small proportion. The company's R&D expenses were RMB 100 million, RMB 119 million, and RMB 97.55 million in 2018, 2020, and 2020, respectively, accounting for 2.12%, 2.09%, and 1.5% of operating revenue.</p><p>Pien Tze Huang is an \"exclusive business\". Pien Tze Huang and Yunnan Baiyao are the only two national first-class Chinese medicine protected varieties. Formulated medicinal materials classified as state secrets. Therefore, Pien Tze Huang may not have a strong motivation for research and development, and it will not make mistakes without trial and error. The safest approach is to have readily available references.</p><p><img src=\"https://static.tigerbbs.com/d5efd050b5584873992f4b1d5f5b5cfb\" tg-width=\"767\" tg-height=\"439\" 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>Who is hyping up Pien Tze Huang?</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\">\nWho is hyping up Pien Tze Huang?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经APP</strong><span class=\"h-time small\">2021-06-25 16:05</span>\n</p>\n</h4>\n</header>\n<article>\n<p>\"Buying sprees and hype soar simultaneously,\" and today's miracle drug Pien Tze Huang is just like the miracle liquor Kweichow Moutai in 2020.</p><p>Media reports indicate that recently, due to a frenzy among consumers, many offline stores have run out of Pien Tze Huang products, and the official flagship stores of Pien Tze Huang have sold out on e-commerce platforms such as Taobao and JD.com. The customer service of Taobao's \"Pien Tze Huang Pharmacy Flagship Store\" said that the restocking time cannot be determined, and it is recommended to save the product first. Other vendors sell Pien Tze Huang for as much as 1,000 yuan per pill.</p><p>Pien Tze Huang's stock price has also been rising steadily, from 100 yuan at the beginning of 2020 to over 400 yuan at present, breaking through the 450 yuan mark on June 25.</p><p>1、<b>Hoarding for speculation? Who is snapping up Pien Tze Huang?</b></p><p>Pien Tze Huang is a liver disease medicine, which is mainly suitable for acute and chronic viral hepatitis caused by heat toxin and blood stasis, and has medical and health care functions. Simply put, Pien Tze Huang can treat fatty liver and alcoholic liver.</p><p>Since Pien Tze Huang went public, it has raised prices 19 times. From 2004 to 2020, domestic retail prices were raised nine times, from 325 yuan to 590 yuan, an increase of 82%.</p><p>Where did the hype surrounding Pien Tze Huang come from?</p><p>One view is that Pien Tze Huang is scarce.</p><p>Is Pien Tze Huang really scarce?</p><p>Due to the impact of the pandemic, many consumers have increased their demand for natural medicinal materials since last year, causing the price of natural musk to rise from 300,000 yuan per kilogram to 400,000 yuan in the past two years. Pien Tze Huang consists of bezoar, musk, Panax notoginseng, and snake bile, with musk alone accounting for 55% of the total cost.</p><p>Some believe that the supply contradiction of raw materials for Pien Tze Huang is more prominent than in previous years. As a scarce variety, Pien Tze Huang is in short supply, and its price is being speculated upwards, creating a \"herd effect\" in investment.</p><p>Regarding the reasons for the latest price increase, Pien Tze Huang issued an announcement in January 2020 stating that, given the rising costs of major raw materials and labor, the company has decided to raise the domestic retail price of its main product, Pien Tze Huang tablets, from 530 yuan/capsule to 590 yuan/capsule, effective from the date of the announcement, and the supply price will be increased by approximately 40 yuan/capsule accordingly.</p><p>However, according to a research report published by Southwest Securities on February 7, 2021, Pien Tze Huang is currently promoting artificial musk deer farming to make up for the insufficient supply of scarce raw materials. The Shaanxi breeding base raises more than 10,000 musk deer, with an estimated annual output of more than 100 kilograms. Both musk and bezoar can meet the capacity expansion needs of three years.</p><p>In other words, the so-called scarcity of raw materials is temporary and does not support the hype surrounding Pien Tze Huang.</p><p>Is there scalpers involved in this hype?</p><p>At the end of April, some netizens revealed that Pien Tze Huang officially entered a purchase restriction policy starting in May 2021, the strictest purchase restriction in history. In the same month, customers can purchase two pills per person per month with their personal ID number and prescription at the experience center to meet the monthly dosage and ensure that long-term medication users will not run out of medication.</p><p>Currently, Pien Tze Huang offline stores in many regions are implementing purchase restrictions. You need to leave your phone number and ID number to make an appointment. Some offline stores even require consumers to \"combine\" purchases, meaning that if you want to buy Pien Tze Huang, you also need to buy other high-priced drugs.</p><p>Analyst Zhu Danpeng stated that the sudden surge in popularity of Pien Tze Huang is undoubtedly related to hype. In the south, especially in the southeastern coastal areas, some consumers believe that Pien Tze Huang has health benefits, and its price has remained high for many years, which has given it some gift attributes.</p><p>Some speculators rushed to buy Pien Tze Huang, waiting for the price to rise, and then sold it off to make huge profits.</p><p>A Pien Tze Huang offline store in Shanghai told the media, \"Not many people bought this medicine before. Two or three months ago, scalpers suddenly started buying it in large quantities. The store had no choice but to start restricting purchases and only open it to regular members.\"</p><p>Are pharmaceuticals being hyped up in conjunction with the capital market?</p><p>Sichuan Securities revealed that some speculative funds may be involved in the hype surrounding Pien Tze Huang.</p><p>The strategy research team at Sichuan Securities believes that behind the sudden supply and demand imbalance, there are inevitably people maliciously hoarding goods, speculating, and even taking the opportunity to profit in the securities market.</p><p>In fact, such hype tactics are not new. In June of this year, a Weibo user verified as the general manager of an asset management company revealed that \"a certain liquor company invited its distributors to buy stock of equivalent value every time they drank alcohol. In the end, the stock price doubled, which meant that the distributors could get the alcohol at zero cost, and the alcohol could be stored for several years and sold slowly.\"</p><p>2、<b>Did mutual funds miss out on Pien Tze Huang?</b></p><p>Unlike in 2020, when mutual funds joined forces to push up leading liquor companies such as Kweichow Moutai and Wuliangye, this time, paradoxically, mutual funds may have completely missed Pien Tze Huang, the \"Moutai of medicine\".</p><p>According to Wind data, at the end of the fourth quarter of 2020, there were 25 public funds holding more than 100,000 shares of Pien Tze Huang: a total of approximately 26.7824 million shares, accounting for about 4.44% of the A-share circulation. Among them are top fund managers such as Ge Lan, Liu Gesong, and Qu Yang.</p><p>However, after the significant fluctuations in blue-chip stocks following the Spring Festival, public data in the first quarter showed that the number of shares held by the top 25 institutions plummeted to 10.0212 million shares, a reduction of more than 60%, accounting for only 1.65% of the A-share circulation ratio.</p><p>At the end of 2020, a total of 101 institutional investors held shares, but by the end of the first quarter of this year, the number of institutional investors had plummeted to 41.</p><p>In the 2021 quarter, Pien Tze Huang also experienced a stock price adjustment. From February 18 to March 9, the stock price fell from 404 yuan to 239 yuan, nearly halved.</p><p>According to publicly available data, most mutual funds sold Pien Tze Huang during the adjustment in the first quarter of 2021.</p><p>However, the main rise in Pien Tze Huang's stock price occurred in the second quarter of 2021. During this process, did mutual funds \"go back to their old ways\" and increase their holdings in Pien Tze Huang? The interim reports of mutual funds and listed companies have not yet been released, so we do not know.</p><p>In the first quarter of 2021, a few mutual funds chose to hold on or even increase their holdings. Huitianfu Value Selection A did not sell a single share and continued to hold 1.5 million shares. Meanwhile, Zhongou Gelan, known in the industry as the \"Goddess of Pharmaceuticals\", bucked the trend and significantly increased its holdings. At the end of the fourth quarter of last year, it only held 272,800 shares of Pien Tze Huang, while at the end of the first quarter, it had already held 2.2149 million shares, an increase of nearly 10 times, showing its strong optimism about the company. Like Ge Lan, newly added GF Healthcare (1.1872 million shares) and Social Security 101 Portfolio (1.0413 million shares) also increased their holdings in the first quarter. Yinhua Wealth Theme also increased its holdings by 1.1998 million shares to 2.7498 million shares in the first quarter, ranking as the sixth largest shareholder.</p><p>3、<b>Is Lin Yuan the man behind Pien Tze Huang?</b></p><p>In the 2018 semi-annual report, the private equity fund managed by private equity tycoon Lin Yuan appeared among the top ten shareholders of Pien Tze Huang with a shareholding ratio of 0.64%. As of the end of June 2020, its three private equity funds held a total of 8.837 million shares of Pien Tze Huang stock.</p><p>However, news broke in the third quarter of 2020 that Lin Yuan had reduced his holdings in Pien Tze Huang, and as of the first quarter of 2021, Lin Yuan's three private equity funds were no longer among the top ten shareholders.</p><p>On June 9, 2021, Lin Yuan sent a representative to attend the Pien Tze Huang shareholders' meeting, where he stated, \"I have invested in Pien Tze Huang stock since 2005 and have not sold a single share to date.\" Previously, Lin Yuan had stated that he had only split his holdings.</p><p>Lin Yuan also sent Pien Tze Huang a warm thank-you letter, which still expressed strong optimism:</p><p>\"Lin Yuan and Lin Yuan Investment have not sold a single share of Pien Tze Huang since they bought it in 2005. Especially during the trade war and the COVID-19 pandemic in my country, including this year, they have been investing heavily, adhering to a long-term perspective, firmly optimistic about the traditional Chinese medicine industry, bullish on China, believing in the fate of the nation, and believing that Pien Tze Huang is a great company. They also believe in its outstanding management team.\" I also wish the company success under General Manager Pan's leadership. Striving to reach new heights, becoming China's calling card and a global luxury brand!</p><p>Previously, on April 21, 2018, Lin Yuan even claimed at an investment report meeting that Pien Tze Huang could be \"brought back to life\".</p><p>“Recently, I chose a Pien Tze Huang. It’s also a pharmaceutical company from Fujian. There are two treasures in Zhangzhou: a daffodil and a Pien Tze Huang. After a Fujianese person dies, the locals also put this medicine in it to see if it can come back to life.”</p><p>Regarding the recent \"hype\" surrounding Pien Tze Huang, Lin Yuan publicly stated, \"They will eventually sell it for the price of two bottles of Moutai.\"</p><p><img src=\"https://static.tigerbbs.com/a6602d2149a718945e18d3b0fdc92cfa\" tg-width=\"608\" tg-height=\"712\" referrerpolicy=\"no-referrer\">4、、<b>Can the price increase of Pien Tze Huang be sustained?</b></p><p>Can Pien Tze Huang really \"sell for the price of two bottles of Moutai\"?</p><p>At the shareholders' meeting of Pien Tze Huang on June 9, 2021, the company stated that it has always been cautious about price increases and does not pursue excessive profits. I disagree with people comparing the prices of Pien Tze Huang and Moutai. Moutai is a grain product and belongs to the category of food; Pien Tze Huang is a medicine, and the pricing and price increase of medicines require more caution and greater consideration of social responsibility. We cannot immediately follow the market trend.</p><p>In fact, as a medicine, Pien Tze Huang always faces pharmaceutical price control. Under the general trend of centralized pharmaceutical procurement, no \"miracle drug\" can sell for sky-high prices.</p><p>On June 25, Pien Tze Huang responded to the recent shortage of its Pien Tze Huang tablets on its interactive platform, stating that the company's production and operation are currently normal. In response to the recent market situation, the company has taken three measures to resolutely maintain market order.</p><p>Although its stock price soared, according to financial reports in recent years, Pien Tze Huang's revenue growth rate was the fastest in 2017, reaching 60.85%. However, the revenue growth rate then began to decline year by year, reaching its lowest point in nearly five years in 2020, at only 13.78%.</p><p>However, Pien Tze Huang's net profit has consistently remained at a high level. After the price increase in 2020, revenue growth dropped to its lowest level in five years, while net profit growth was only 1 percentage point lower than in 2019.</p><p>In fact, Pien Tze Huang's R&D expenses account for a very small proportion. The company's R&D expenses were RMB 100 million, RMB 119 million, and RMB 97.55 million in 2018, 2020, and 2020, respectively, accounting for 2.12%, 2.09%, and 1.5% of operating revenue.</p><p>Pien Tze Huang is an \"exclusive business\". Pien Tze Huang and Yunnan Baiyao are the only two national first-class Chinese medicine protected varieties. Formulated medicinal materials classified as state secrets. Therefore, Pien Tze Huang may not have a strong motivation for research and development, and it will not make mistakes without trial and error. The safest approach is to have readily available references.</p><p><img src=\"https://static.tigerbbs.com/d5efd050b5584873992f4b1d5f5b5cfb\" tg-width=\"767\" tg-height=\"439\" referrerpolicy=\"no-referrer\"></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/fPg__P2D5g2Ud8-8ZahI9Q\">智通财经APP</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3153c88188d79bb8182b93c4fdd43636","relate_stocks":{"600436":"片仔癀"},"source_url":"https://mp.weixin.qq.com/s/fPg__P2D5g2Ud8-8ZahI9Q","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1186640720","content_text":"“抢购与炒作齐飞”，今日的神药片仔癀一如2020年的神酒贵州茅台。\n媒体报道，近日，因为消费者疯抢，大量线下门店的片仔癀已经缺货，在淘宝、京东等电商平台，片仔癀官方旗舰店的药品均已售罄。淘宝“片仔癀大药房旗舰店”客服表示，补货时间无法确定，建议先收藏商品。其他商家售卖的片仔癀单粒价格则高达千元。\n片仔癀的股价也一路水涨船高，从2020年初的100元飙升至目前的400元以上，6月25日，突破450元大关。\n1、囤积居奇？谁在抢购片仔癀？\n片仔癀是一种肝病用药，主要适用于热毒血瘀所致急慢性病毒性肝炎，同时具备医用和保健功能。简单地说，片仔癀有治疗脂肪肝、酒精肝的作用。\n自片仔癀上市以来，已经持续进行了19次提价。其中，2004年到2020年国内零售价一共提价9次，从325元的零售价提升到了590元，提升82%。\n片仔癀这波炒作是怎么来的呢？\n一种观点是，片仔癀稀缺。\n片仔癀真的稀缺吗？\n受疫情影响，去年开始，许多消费者对天然药材的需求增加，导致这两年天然麝香价格从每千克30万涨到40万元。片仔癀成分为牛黄、麝香、三七与蛇胆，光麝香就占到总成本的55%。\n有人认为，片仔癀原材料供应矛盾比往年更突出。作为稀缺品种，片仔癀供不应求，价格越炒越高，越高越炒，出现投资“羊群效应”。\n对于最近一次涨价原因，片仔癀在2020年1月发布公告称，鉴于主要原料及人工成本上涨等原因，公司决定自公告之日起，主导产品片仔癀锭剂国内市场零售价格从530元/粒上调到590元/粒，供应价格相应上调约40元/粒。\n然而，根据西南证券2021年2月7日发表的研报，目前片仔癀推进人工养麝，以弥补稀缺原料供给不足，陕西养殖基地养麝超1万头，推测年产超100公斤，麝香和牛黄均可满足3年的产能扩张。\n换言之，原材料的所谓稀缺是暂时的，并不支撑片仔癀的炒作。\n有黄牛炒作吗？\n4月底就有网友透露，片仔癀从2021年5月开始，正式进入限购政策，历史上最严限购令，当月凭个人身份证号码和处方，体验馆购买，一人一个月限购2粒，满足当月使用的用量，保证长期用药的客户不会断药。\n目前，多地片仔癀线下门店实行限购。需要留下电话号码和身份证号预约，甚至有线下门店要求消费者“搭配”购买，即想要买到片仔癀，还要购买其他的高价药品。\n分析师朱丹蓬表示， 片仔癀突然的紧俏，与炒作不无关系。在南方尤其是东南沿海地区，一些消费者认为片仔癀具有保健功效，而且常年价格居高不下，也因此让其有了一些礼品属性。\n一些投机者抢购片仔癀坐等涨价，再抛售之后赚取中间暴利。\n有上海的片仔癀线下门店告诉媒体，“这个药之前并没有很多人购买，两三个月前，突然有黄牛开始大批购买，店铺无奈开始限购，只对会员老顾客开放。”\n药品在与资本市场联动炒作吗？\n川财证券透露，或有游资参与片仔癀炒作。\n川财证券策略研究团队认为，突如其来的供需失衡背后难免存在有人恶意囤货，恶意炒作，甚至借机在证券市场上牟利。\n事实上，这样的炒作套路并不新鲜。今年6月，有微博认证为某资管公司总经理的用户透露，“某白酒企业邀请经销商每次进酒的时候，进等价的股票。最后股价翻了一倍，等于经销商零成本拿酒，酒还可以放好几年，慢慢卖都行。”\n2、公募基金踏空了片仔癀？\n与2020年，公募机构联手推高贵州茅台、五粮液等白酒龙头不同，这一次，吊诡的是，公募基金们可能完美踏空了“药中茅台”片仔癀。\nWind数据显示，2020年四季度末，持有片仔癀股数超过10万股的公募基金共有25家：共持有约2678.24万股，约占A股流通比例4.44%。其中不乏“顶流基金经理”葛兰、刘格菘、曲阳等人的身影。\n然而，在经历了春节之后白马股的大幅震荡之后，一季度的公开数据显示，前25家机构持股数量锐减为1002.12万股，减仓幅度超过六成，只占A股流通比例的1.65%。\n2020年底，共计有101家机构投资者持股，今年一季度末，机构投资者锐减至41家。\n2021年季度，片仔癀亦经历了股价调整，其中，2月18日至3月9日，股价从404元跌至239元，接近腰斩。\n从公开数据看，大部分公募基金在2021年1季度的调整中卖出了片仔癀。\n不过，片仔癀股价的主要上涨是在2021年2季度，在这个过程中，公募基金有没有“吃回头草”又加仓片仔癀呢？目前公募基金和上市公司的中报都尚未出炉，我们不得而知。\n2021年1季度，少数公募基金选择了坚守甚至加仓，汇添富价值精选A一股未卖继续持有150万股，而被业内称为“医药女神”的中欧葛兰则逆势大举增仓，去年四季度末还仅持有片仔癀27.28万股，而一季度末披露时已持221.49万股，足足增仓接近10倍之多，显示其对公司的强烈看好。与葛兰相同在一季度进行增仓的，还有新进的广发医疗保健（118.72万股）和社保一零一组合（104.13万股），而银华富裕主题在一季度也增仓119.98万股至274.98万股，位列第六大股东。\n3、林园是片仔癀背后的男人吗？\n2018年半年报中，私募大佬林园旗下的私募基金以0.64%的持股比例出现在了片仔癀十大股东中。截至2020年6月末，其旗下3只私募基金合计持有片仔癀股票883.7万股。\n不过，2020年第三季度传出“林园减持片仔癀”的新闻，截至2021年第一季度，林园的三支私募基金已不在十大股东之列。\n2021年6月9日，林园派了代表参加片仔癀股东大会，会上表示，“从2005年起投资片仔癀股票，至今一股未卖。”此前林园曾称，只是将持仓进行了拆分。\n林园还给片仔癀送上热情洋溢的感谢信，感谢信依然是表达强烈看好：\n“林园及林园投投资，从2005年买入片仔癀至今一股未卖。尤其在贸易战我国新冠疫情，包括今年一直在大力投入，坚持长期主义，坚定看好中医药行业，看多中国，相信国运，相信片仔癀是一家伟大的公司。相信卓越优秀的管理层。也祝愿公司在潘总的带领下。勇攀高峰成为中国的名片，成为世界的奢侈品牌！”\n此前，2018年4月21日，林园在投资报告会上甚至宣称片仔癀可以“起死回生”。\n“最近我选了一个片仔癀。也是一个药的企业，这是福建的。在漳州有两宝，一个是水仙，还有一个是片仔癀。福建人死了以后，当地人也要把这个药放进去，试试能不能活过来。”\n对于这次片仔癀的“爆炒”，林园更是公开表示“他们最终要卖到两瓶茅台的价格。”\n4、、片仔癀的涨价可否持续？\n片仔癀真的能“卖到两瓶茅台的价格吗”？\n2021年6月9日，片仔癀股东大会上，公司表示，对待涨价问题，向来都比较小心谨慎，不追求过度利润。不赞同大家拿片仔癀跟茅台的价格进行对比。茅台是粮食产品，属于食品；片仔癀是药品，药品的定价和涨价问题，要更加谨慎，更加考虑社会责任，无法马上随行就市。\n事实上，片仔癀作为药品，始终要面临医药价格管制。在医药集采的大趋势下，任何“神药”都不可能卖到天价。\n6月25日，片仔癀在互动平台回应近期其片仔癀锭剂“一粒难求”的现象，称目前公司生产经营均属于正常状态，针对近期市场情况，公司采取三方面措施，坚决维护市场秩序。\n虽然股价一飞冲天，但是，从近几年财报数据看，片仔癀在2017年的营收增速最快，达到了60.85%，但随后营收增速便开始逐年下降，到2020年下降至近五年最低点，仅有13.78%。\n不过，片仔癀的净利润始终保持较高的水平。2020年提价之后，营收增速下降至5年内最低，然时净利润增速与2019年相比，只差了1个百分点。\n事实上，片仔癀的研发费用占比很低。公司 2018 年至 2020 年研发费用分别为 1 亿元、1.19 亿元、9755 万元，占营业收入比例分别为 2.12%、2.09%、1.5%。\n片仔癀是一门“独家生意”。片仔癀与云南白药，是唯二两个国家一级中药保护品种。国家机密级别的配方药材。因此，片仔癀或许没有太强的研发动力，不试错并不会犯错。有现成可借鉴的最稳妥。","news_type":1,"symbols_score_info":{"600436":0.9}},"isVote":1,"tweetType":1,"viewCount":3869,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":122768697,"gmtCreate":1624633690919,"gmtModify":1703842391624,"author":{"id":"3569896467959373","authorId":"3569896467959373","name":"Kaslim","avatar":"https://static.tigerbbs.com/f82c85a933438b27edc2f005ba118976","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569896467959373","idStr":"3569896467959373"},"themes":[],"title":"","htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/122768697","repostId":"1119275851","repostType":4,"repost":{"id":"1119275851","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":1624615380,"share":"https://ttm.financial/m/news/1119275851?lang=en_US&edition=fundamental","pubTime":"2021-06-25 18:03","market":"hk","language":"zh","title":"Geely Automobile withdraws its application for listing on the Science and Technology","url":"https://stock-news.laohu8.com/highlight/detail?id=1119275851","media":"老虎资讯综合","summary":"吉利汽车6月25日公告，旗下合资公司极氪智能科技控股有限公司董事会已决议为极氪智能科技可持续发展探索不同的外部融资方案。此外，因公司经营决策和战略调整，经公司董事会于2021年6月25日审议通过，决定","content":"<p>Geely Automobile announced on June 25 that the board of directors of its joint venture Zeekr Intelligent Technology Holding Limited has resolved to explore different external financing solutions for the sustainable development of Jike Intelligent Technology. In addition, due to the company's business decisions and strategic adjustments, the company's board of directors reviewed and approved the decision on June 25, 2021, to withdraw the application for an initial public offering of shares and listing on the Science and Technology Innovation Board.<img src=\"https://static.tigerbbs.com/8c4432da17aee14f9b81332daffd165a\" tg-width=\"831\" tg-height=\"730\" 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>Geely Automobile withdraws its application for listing on the Science and Technology</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\">\nGeely Automobile withdraws its application for listing on the Science and Technology\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-06-25 18:03</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Geely Automobile announced on June 25 that the board of directors of its joint venture Zeekr Intelligent Technology Holding Limited has resolved to explore different external financing solutions for the sustainable development of Jike Intelligent Technology. In addition, due to the company's business decisions and strategic adjustments, the company's board of directors reviewed and approved the decision on June 25, 2021, to withdraw the application for an initial public offering of shares and listing on the Science and Technology Innovation Board.<img src=\"https://static.tigerbbs.com/8c4432da17aee14f9b81332daffd165a\" tg-width=\"831\" tg-height=\"730\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5a4a0d90587b4a1f8e70e6ef9eb66019","relate_stocks":{"00175":"吉利汽车"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1119275851","content_text":"吉利汽车6月25日公告，旗下合资公司极氪智能科技控股有限公司董事会已决议为极氪智能科技可持续发展探索不同的外部融资方案。此外，因公司经营决策和战略调整，经公司董事会于2021年6月25日审议通过，决定撤回首次公开发行股票并在科创板上市的申请。","news_type":1,"symbols_score_info":{"00175":0.9}},"isVote":1,"tweetType":1,"viewCount":4856,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126975775,"gmtCreate":1624543410697,"gmtModify":1703839902823,"author":{"id":"3569896467959373","authorId":"3569896467959373","name":"Kaslim","avatar":"https://static.tigerbbs.com/f82c85a933438b27edc2f005ba118976","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569896467959373","idStr":"3569896467959373"},"themes":[],"title":"","htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/126975775","repostId":"1144044065","repostType":4,"repost":{"id":"1144044065","kind":"news","pubTimestamp":1624532990,"share":"https://ttm.financial/m/news/1144044065?lang=en_US&edition=fundamental","pubTime":"2021-06-24 19:09","market":"us","language":"zh","title":"China Banking and Insurance Regulatory Commission official: The global economy is in a sensitive period and it will be difficult to return to normal in the","url":"https://stock-news.laohu8.com/highlight/detail?id=1144044065","media":"新浪财经","summary":"这次疫情至少是自第二次世界大战以来对全球经济、人类社会最大的一次冲击。","content":"<p>The 2021 Caixin Summer Summit was held in Beijing from June 23-25, 2021. Yu Xuejun, a leader of the China Banking and Insurance Regulatory Commission, attended and delivered a speech.</p><p>Yu Xuejun stated that the global economy is in a sensitive period of evolution and change, and it is difficult to return to normal in the short term.</p><p>He explained that, firstly, the complexity and sensitivity facing the global economy this year were caused by the outbreak and spread of the COVID-19 pandemic last year, \"and the impact was too great.\" He cited a UN report stating that this was \"the worst global economic contraction since the Great Depression of the 1930s, a contraction 2.5 times the degree of the 2009 international financial crisis.\" He added,</p><p>\"From our memory, this pandemic has been the biggest shock to the global economy and human society since at least World War II.\" Last year, the global economy contracted by 4.4% overall. Thanks to China's good control of the epidemic and its combined efforts in epidemic prevention and economic work, the country resumed work and production effectively, making it the only country among the world's top ten economies to achieve positive growth, with an annual economic growth of 2.3%. Yu Xuejun said,</p><p>\"This (growth) of 2.3% is very well-known now. We see it on TV, in newspapers, and even some foreign scholars often mention 2.3%.\" Second, due to the rare impact of the COVID-19 pandemic on the global economy, governments around the world have generally implemented ultra-loose stimulus economic policies. Historically, these policies are unprecedented in intensity and have played an important role in stabilizing the economies and maintaining social order in various countries. However, at the same time, these ultra-loose policies have also brought many problems.</p><p>Third, the changes and impacts of global geopolitics.</p><p>Yu Xuejun stated that the key to controlling the epidemic lies in the research and development and administration of vaccines. All countries hope to achieve this in one fell swoop, but progress is now very fast, far exceeding people's previous expectations. How things will change in the future depends on two factors. One is the effectiveness of the vaccine, including its shelf life, which remains to be seen.</p><p>Second, the speed and complexity of the COVID-19 virus mutation. “In the past, when we were doing banking supervision, we often said, ‘Regulation is a race against risk.’ Today, we are borrowing this saying. We believe that fighting the COVID-19 pandemic is actually a race against the mutations of the virus,” he said. Overall, the situation in humanity’s fight against the COVID-19 pandemic has become bright, and it now seems to be dominated by optimism. He believes that the negative impact on the economy will gradually weaken.</p><p>When discussing the future of ultra-loose stimulus policies, Yu Xuejun analyzed the situation in the United States.</p><p>Last year, during the Trump administration, after the widespread spread of COVID-19 in the United States, the Federal Reserve lowered the Federal Reserve interest rate from 1.5%-1.75% to 0% to 0.25% in mid-March, the so-called \"zero interest rate\". At the end of the year, the Federal Reserve intensified its QE policy, increasing its bond purchases to $120 billion per month starting in December.</p><p>Since taking office, President Biden has further increased fiscal stimulus policies, most notably the $1.9 trillion COVID-19 relief bill passed in April of this year. In addition, he proposed a plan to revive infrastructure investment. The initial proposal was for a scale of 2.25 trillion, but it has recently been reduced to approximately $1 trillion.</p><p>Since last year, the Federal Reserve has implemented an ultra-loose monetary policy, which has led to a significant increase in its balance sheet, which has surged from about $4 trillion at the beginning to $7.5 trillion at the end of the year, and has now reached about $8 trillion. This has led to a continuous expansion of global dollar liquidity and caused a sharp rise in commodity prices, including a rare increase in food prices, raising global concerns about inflation.</p><p>Yu Xuejun believes that with the improvement of the US anti-epidemic situation and the cumulative effect of ultra-loose monetary stimulus policies, the US economy has rebounded strongly. According to the latest OECD medium-term economic outlook forecast, the US economy will grow by 6.9% this year, which is 0.4 percentage points higher than the previous forecast.</p><p>In response to these new changes, the Federal Reserve has begun to send hawkish signals at its latest interest rate meeting in June, and the market expects the Fed's rate hike to be brought forward by a year to the second half of 2022. In addition, inflation expectations have been significantly raised, with the U.S. PCE and personal consumption expenditures price index expected to rise to 3.4% in 2021, up 1 percentage point from the March forecast. Yu Xuejun said,</p><p>\"We are in a window of opportunity where macroeconomic control policies may be adjusted and changed at any time, so the market is extremely sensitive. A piece of information or a single word from the Federal Reserve can cause huge fluctuations in the market. Currently, grain, iron ore, oil, gold, and exchange rates rise and fall almost every day, with different changes and no consistent direction. We are in such a sensitive period.\" Why is it difficult to return to normal in the short term? He gave two reasons:</p><p>First, the impact of the COVID-19 pandemic is too great, and controlling the pandemic remains unpredictable. In addition, the significant impact of the pandemic on human society, especially on economic activities, after it is brought under control, also requires time to be assessed.</p><p>Secondly, the ultra-loose stimulus policies of various countries have had a significant impact. The withdrawal of these policies requires a long process and is irreversible. In particular, the base money injected by the Federal Reserve is difficult to recover in the short term and may become a part of history that will be retained forever.</p><p>\"After the 2008 US financial crisis, the Federal Reserve implemented a quantitative easing monetary policy. Previously, the Fed's balance sheet was less than $900 billion, but it later increased to a peak of $4.5 trillion, and now it has increased to $8 trillion. Based on this calculation...\"<b>The Fed's balance sheet is expected to eventually be more than 10 times larger than it was before the 2008 financial crisis.</b>These large amounts of dollar liquidity are being invested around the world, having a huge impact on global economic and financial markets, especially on inflation, which I believe is difficult to eliminate in the short term and difficult to accurately assess.</p>","source":"XLCJ","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>China Banking and Insurance Regulatory Commission official: The global economy is in a sensitive period and it will be difficult to return to normal in the</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\">\nChina Banking and Insurance Regulatory Commission official: The global economy is in a sensitive period and it will be difficult to return to normal in the\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪财经</strong><span class=\"h-time small\">2021-06-24 19:09</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The 2021 Caixin Summer Summit was held in Beijing from June 23-25, 2021. Yu Xuejun, a leader of the China Banking and Insurance Regulatory Commission, attended and delivered a speech.</p><p>Yu Xuejun stated that the global economy is in a sensitive period of evolution and change, and it is difficult to return to normal in the short term.</p><p>He explained that, firstly, the complexity and sensitivity facing the global economy this year were caused by the outbreak and spread of the COVID-19 pandemic last year, \"and the impact was too great.\" He cited a UN report stating that this was \"the worst global economic contraction since the Great Depression of the 1930s, a contraction 2.5 times the degree of the 2009 international financial crisis.\" He added,</p><p>\"From our memory, this pandemic has been the biggest shock to the global economy and human society since at least World War II.\" Last year, the global economy contracted by 4.4% overall. Thanks to China's good control of the epidemic and its combined efforts in epidemic prevention and economic work, the country resumed work and production effectively, making it the only country among the world's top ten economies to achieve positive growth, with an annual economic growth of 2.3%. Yu Xuejun said,</p><p>\"This (growth) of 2.3% is very well-known now. We see it on TV, in newspapers, and even some foreign scholars often mention 2.3%.\" Second, due to the rare impact of the COVID-19 pandemic on the global economy, governments around the world have generally implemented ultra-loose stimulus economic policies. Historically, these policies are unprecedented in intensity and have played an important role in stabilizing the economies and maintaining social order in various countries. However, at the same time, these ultra-loose policies have also brought many problems.</p><p>Third, the changes and impacts of global geopolitics.</p><p>Yu Xuejun stated that the key to controlling the epidemic lies in the research and development and administration of vaccines. All countries hope to achieve this in one fell swoop, but progress is now very fast, far exceeding people's previous expectations. How things will change in the future depends on two factors. One is the effectiveness of the vaccine, including its shelf life, which remains to be seen.</p><p>Second, the speed and complexity of the COVID-19 virus mutation. “In the past, when we were doing banking supervision, we often said, ‘Regulation is a race against risk.’ Today, we are borrowing this saying. We believe that fighting the COVID-19 pandemic is actually a race against the mutations of the virus,” he said. Overall, the situation in humanity’s fight against the COVID-19 pandemic has become bright, and it now seems to be dominated by optimism. He believes that the negative impact on the economy will gradually weaken.</p><p>When discussing the future of ultra-loose stimulus policies, Yu Xuejun analyzed the situation in the United States.</p><p>Last year, during the Trump administration, after the widespread spread of COVID-19 in the United States, the Federal Reserve lowered the Federal Reserve interest rate from 1.5%-1.75% to 0% to 0.25% in mid-March, the so-called \"zero interest rate\". At the end of the year, the Federal Reserve intensified its QE policy, increasing its bond purchases to $120 billion per month starting in December.</p><p>Since taking office, President Biden has further increased fiscal stimulus policies, most notably the $1.9 trillion COVID-19 relief bill passed in April of this year. In addition, he proposed a plan to revive infrastructure investment. The initial proposal was for a scale of 2.25 trillion, but it has recently been reduced to approximately $1 trillion.</p><p>Since last year, the Federal Reserve has implemented an ultra-loose monetary policy, which has led to a significant increase in its balance sheet, which has surged from about $4 trillion at the beginning to $7.5 trillion at the end of the year, and has now reached about $8 trillion. This has led to a continuous expansion of global dollar liquidity and caused a sharp rise in commodity prices, including a rare increase in food prices, raising global concerns about inflation.</p><p>Yu Xuejun believes that with the improvement of the US anti-epidemic situation and the cumulative effect of ultra-loose monetary stimulus policies, the US economy has rebounded strongly. According to the latest OECD medium-term economic outlook forecast, the US economy will grow by 6.9% this year, which is 0.4 percentage points higher than the previous forecast.</p><p>In response to these new changes, the Federal Reserve has begun to send hawkish signals at its latest interest rate meeting in June, and the market expects the Fed's rate hike to be brought forward by a year to the second half of 2022. In addition, inflation expectations have been significantly raised, with the U.S. PCE and personal consumption expenditures price index expected to rise to 3.4% in 2021, up 1 percentage point from the March forecast. Yu Xuejun said,</p><p>\"We are in a window of opportunity where macroeconomic control policies may be adjusted and changed at any time, so the market is extremely sensitive. A piece of information or a single word from the Federal Reserve can cause huge fluctuations in the market. Currently, grain, iron ore, oil, gold, and exchange rates rise and fall almost every day, with different changes and no consistent direction. We are in such a sensitive period.\" Why is it difficult to return to normal in the short term? He gave two reasons:</p><p>First, the impact of the COVID-19 pandemic is too great, and controlling the pandemic remains unpredictable. In addition, the significant impact of the pandemic on human society, especially on economic activities, after it is brought under control, also requires time to be assessed.</p><p>Secondly, the ultra-loose stimulus policies of various countries have had a significant impact. The withdrawal of these policies requires a long process and is irreversible. In particular, the base money injected by the Federal Reserve is difficult to recover in the short term and may become a part of history that will be retained forever.</p><p>\"After the 2008 US financial crisis, the Federal Reserve implemented a quantitative easing monetary policy. Previously, the Fed's balance sheet was less than $900 billion, but it later increased to a peak of $4.5 trillion, and now it has increased to $8 trillion. Based on this calculation...\"<b>The Fed's balance sheet is expected to eventually be more than 10 times larger than it was before the 2008 financial crisis.</b>These large amounts of dollar liquidity are being invested around the world, having a huge impact on global economic and financial markets, especially on inflation, which I believe is difficult to eliminate in the short term and difficult to accurately assess.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.sina.cn/hy/2021-06-24/detail-ikqciyzk1510511.d.html?from=wap\">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/f0777ffe79222b2a04c15407e205bed9","relate_stocks":{".DJI":"道琼斯","000001.SH":"上证指数"},"source_url":"https://finance.sina.cn/hy/2021-06-24/detail-ikqciyzk1510511.d.html?from=wap","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1144044065","content_text":"2021财新夏季峰会于2021年6月23-25日在北京举办，中国银行保险监督管理委员会领导于学军出席并演讲。\n于学军表示，全球经济正处于演进变化的敏感时期，短期内难以回归常态。\n他解释称，首先，今年全球经济面临的复杂性和敏感性是受去年新冠肺炎疫情在全球的暴发、蔓延而形成的，“这个冲击太大了”。他引用联合国报告称这“是自上世纪30年代经济大萧条以来，全球经济最严重的收缩，收缩的程度是2009年国际金融危机的2.5倍”。他又说道，\n\n “从我们的记忆来说，这次疫情至少是自第二次世界大战以来对全球经济、人类社会最大的一次冲击。”\n\n去年全球经济总体下降4.4%，由于中国疫情控制得好，并且防疫和经济工作两手抓，复工复产有力有效，成为了全球前十大经济体中唯一实现正增长的国家，全年经济增长2.3%。于学军说，\n\n “这个（增长）2.3%，现在非常有名，我们看电视、报纸，包括国外的一些学者，他们也经常提起来2.3%。”\n\n第二，由于新冠疫情对全球经济形成的罕见冲击，所以各国政府普遍实行了超宽松的刺激性经济政策，历史比较来看，这些政策力度是空前的，在各国稳定经济和维护社会秩序等方面均发挥了重要作用，但与此同时这些超宽松的政策也带来许多问题。\n第三，全球地缘政治的变化和影响。\n于学军表示，控制疫情的关键环节在于疫苗的研发和接种，各国都希望可以毕其功于一役，现在看进展很快，远超出人们之前的预期。未来如何变化取决于两个因素，一是疫苗的有效性，包括有效期，尚有待时间检验。\n二是新冠病毒变异的速度和复杂性。“过去我们做银行监管常说的一句话，叫做‘监管就是与风险赛跑’，今天我们把这句话借用过来，我们认为抗击新冠疫情实际上也是与新冠病毒的变异赛跑”，他说，总体来看人类抗击新冠疫情的形势已现光明，现在普遍看起来是乐观情绪主导，相信对经济的负面影响也会逐步减弱。\n谈及超宽松的刺激性政策何去何从，于学军分析了美国的情况。\n去年在特朗普执政时期，新冠肺炎在美国大面积传染之后，美联储在3月中旬一次性将联邦储备利率由1.5%-1.75%调低为0%到0.25%，即所谓的“零利率”。年末美联储又加大QE政策，从12月起将其购债规模每月增加到1200亿美元。\n拜登总统上任之后，进一步加大财政的刺激性政策，最具代表性的就是于今年4月通过的1.9万亿美元的新冠纾困法案。另外，他还提出基建投资的复兴计划。开始拟定的是2.25万亿规模，最近有所压缩，预计约1万亿美元。\n去年开始美联储实行超宽松的货币政策，使其资产负债表大幅增加，已从初期的约4万亿美元陡增至年末的7.5万亿美元，最新大概达到8万亿美元。这使全球的美元流动性不断膨胀，并造成大宗初级商品的价格大幅上涨，包括粮食也出现罕见的涨价现象，全球对通胀的担忧由此产生。\n于学军认为，随着美国抗疫形势出现好转，在货币超宽松刺激政策累加的作用之下，美国经济出现强势反弹，最新据经合组织OECD中期经济展望预测，今年美国经济将增长6.9%，比之前的预测调高了0.4个百分点。\n针对这些新变化，美联储在6月最新的议息会议上已开始释放鹰派信号，市场预计美联储加息或提前一年至2022年下半年。另外通货膨胀预期也被大幅上调，预计2021年美国的PCE及个人消费支出价格指数将升到3.4%，较3月的预测值上调1个百分点。于学军称，\n\n “我们处于这样一个宏观调控政策有可能随时发生调整变化的窗口期，所以市场表现极为敏感，一个信息、美联储的一句措词都有可能引起市场的巨大波动。现在粮食、铁矿石、石油、黄金、汇率几乎每天都出现上涨、下跌，有不同的变化，没有一致的方向，处在这样的一个敏感期。”\n\n为什么短期常态难回归呢？他给出两个原因：\n一是新冠疫情的冲击太大，现在疫情控制仍然难以预料。另外，疫情控制之后其对人类社会产生的重大影响，尤其是对经济活动的影响，也需要一个时间进行评估。\n二是各国超宽松的刺激性政策形成了重大影响，这些政策的退出需要一个较长的过程，并且覆水难收，尤其是美联储投放出去的基础货币很难在短期收回，也许会成为一段历史永远保留下去。\n\n “2008年美国发生金融危机之后，美联储就实行了量化宽松的货币政策，这个之前美联储的资产负债表不到9000亿美元，后来最高增加到了4.5万亿美元，现在又增加到8万亿美元。这样计算下来，\n 预计最终美联储的资产负债表将比2008年金融危机之前提高10倍以上，这些大量的美元流动性投入到世界各地，对全球经济金融市场形成巨大影响，尤其是下一步对通货膨胀的影响，我认为短期内难以消除，也难以准确评估。”","news_type":1,"symbols_score_info":{"000001.SH":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":4138,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126975929,"gmtCreate":1624543393761,"gmtModify":1703839901676,"author":{"id":"3569896467959373","authorId":"3569896467959373","name":"Kaslim","avatar":"https://static.tigerbbs.com/f82c85a933438b27edc2f005ba118976","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569896467959373","idStr":"3569896467959373"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/126975929","repostId":"1121154040","repostType":4,"repost":{"id":"1121154040","kind":"news","pubTimestamp":1624539354,"share":"https://ttm.financial/m/news/1121154040?lang=en_US&edition=fundamental","pubTime":"2021-06-24 20:55","market":"us","language":"zh","title":"Big reveal: Windows 11 is coming tonight! What updates can we see?","url":"https://stock-news.laohu8.com/highlight/detail?id=1121154040","media":"腾讯科技","summary":"被微软CEO纳德拉称之为Windows十年来“最重要的更新”即将到来。","content":"<p>At 11 PM Beijing time on June 24th,<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>A new product launch event is about to be held, with what Microsoft CEO Satya Nadella calls the \"most important update\" to Windows in a decade.</p><p>Although Microsoft has not confirmed the upcoming new product release in any public setting, the major leak of the Windows 11 development version on June 16 has made the matter less mysterious. Windows 11 will be the main focus of tonight's launch event, and Microsoft has already showcased the most important update of the decade for Windows to us in all aspects before the event.</p><p>However, this press conference is not entirely without its highlights; there are still some details worth paying attention to.</p><p><b>What improvements can Windows 11 make to touch and gestures?</b></p><p><img src=\"https://static.tigerbbs.com/6bd9316044d53f9972729e9b791817e4\" tg-width=\"641\" tg-height=\"421\" referrerpolicy=\"no-referrer\"></p><p>After experiencing the development version of Windows 11, many people found that this so-called \"major version\" did not make any significant functional improvements compared to the previous Windows 10, except for some Design adjustments to the interface to make it more in line with Microsoft's Fluent Design language.</p><p>Some users even gave it a Windows 10 skin after experiencing the Windows 11 development version.</p><p>To some extent, Windows 11 is indeed not as significant a design improvement as it was when we switched from Win8 to Win10. However, if you understand Microsoft's previous design evolution on Windows, you will find that the current version of Windows 11 actually has a very similar design to Windows 10X, which Microsoft has already canceled.</p><p>Features that appeared in the Windows 11 development version, such as \"centering the Start Menu and multitasking on the same screen,\" were originally standard features of Windows 10X.</p><p>Therefore, the leaked Windows 11 is more like an iteration of the previous Windows 10X. However, since 10X is a product designed by Microsoft for dual touch screens, what touch-enabled features Windows 11 will add to the system will be an important point of interest at tonight's launch event.</p><p>Microsoft has confirmed that it plans to \"innovate and develop exciting sensor technologies\" for future versions of Windows. As part of Windows 11 or an upcoming Windows update, popular features such as \"user presence detection,\" gesture detection, and ambient light will be improved to \"deliver a dazzling user experience on Windows.\"</p><p>This means that Microsoft hopes to achieve a fusion of desktop and mobile devices through the new Windows 11. Although Microsoft's current mobile phone projects are basically in a semi-abandoned state, the Surface still requires touch operation to achieve an excellent experience in more usage scenarios. Therefore, the improvements in touch and gestures in Windows 11 are very important.</p><p><b>Brand new Windows App Store?</b></p><p><img src=\"https://static.tigerbbs.com/f95bc54f95bce56f6cd39680c5670f5e\" tg-width=\"641\" tg-height=\"410\" referrerpolicy=\"no-referrer\"></p><p>Although MacOS's App Store doesn't have a strong presence, the App Store currently offered by Windows 10 seems even less important in comparison.</p><p>However, this may be greatly improved in Windows 11, which arrives tonight.</p><p>According to media reports, Microsoft has been developing a brand new app store that is more inclusive and free. Microsoft plans to introduce more developers to the new app store, such as apps like Chorme or Firefox, which will be available for download in the Microsoft app store in the future.</p><p>Another major improvement will be in the payment mechanism. Microsoft may allow developers to bypass Microsoft's payment mechanism in the new App store and make in-app payments through third-party payment mechanisms in exchange for a 15% reduction in Microsoft's commission.</p><p>Don't be surprised if this comes true at tonight's press conference, since Microsoft is now uniting with Epic to resist...<a href=\"https://laohu8.com/S/AAPL\">Apple</a>The App Store's high \"Apple tax\". This move could influence the reshuffling of app service pricing methods by large companies like Microsoft, Apple, and Google in the coming years.</p><p>Microsoft recently announced that it will reduce the purchase commission for games listed in its App Store from 30% to 12%. This significant discount has put a lot of pressure on App stores like Steam.</p><p><b>Will Windows 11 focus on improving the user experience for professional users?</b></p><p>As the world's largest desktop operating system, Windows' professional capabilities have been overlooked by many people. In this Windows 11 development version, we actually saw Microsoft's optimizations and improvements for some professional users.</p><p>In the new Windows 11, Microsoft has improved the display for switching between multiple desktops, while also providing better support for multiple monitors. This has, to some extent, solved the problems that high-end users have accumulated over many years regarding multitasking.</p><p><img src=\"https://static.tigerbbs.com/e9e63bb5de9abe3a6b4ddd323172017f\" tg-width=\"641\" tg-height=\"513\" referrerpolicy=\"no-referrer\"></p><p>Meanwhile, Windows 11 has also focused more on improving the experience for game users. On this brand-new operating system, the new Xbox app is now integrated into Windows 11, providing quick access to Xbox Game Pass games, the social sections of the Xbox network, and the Xbox Store.</p><p>Meanwhile, Windows 11 has already been tested on XBox, and we hope to see more XBox features incorporated into the desktop, such as providing automatic HDR display or faster game loading speeds, to improve the PC gaming experience.</p><p><b>Free upgrade?</b></p><p><img src=\"https://static.tigerbbs.com/3eb69ed623b5cc7b7239d753886fda0b\" tg-width=\"641\" tg-height=\"362\" referrerpolicy=\"no-referrer\"></p><p>Yes, this is what we most want to see on Windows 11.</p><p>When Microsoft previously upgraded Windows 7/8 to Windows 10, it used a free upgrade method, allowing all users to upgrade to the corresponding Windows 10 version. We hope that the free service will still appear on Windows 11.</p><p>The market has successfully told Microsoft that there is no point in charging users to upgrade their systems. As an operating system development company, Microsoft relies on OEM licensing and commercial licensing for more of its software revenue. Therefore, it is very likely that Windows 11 will still use the same free upgrade method as Windows 10.</p><p>Although Microsoft has sneaked Windows 11 away, it has actually left us with a lot of suspense. These answers may be revealed when Microsoft officially holds its new product launch event at 11 PM Beijing time on June 24th.</p>","source":"lsy1580517846866","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Big reveal: Windows 11 is coming tonight! What updates can we see?</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\">\nBig reveal: Windows 11 is coming tonight! What updates can we see?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">腾讯科技</strong><span class=\"h-time small\">2021-06-24 20:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p>At 11 PM Beijing time on June 24th,<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>A new product launch event is about to be held, with what Microsoft CEO Satya Nadella calls the \"most important update\" to Windows in a decade.</p><p>Although Microsoft has not confirmed the upcoming new product release in any public setting, the major leak of the Windows 11 development version on June 16 has made the matter less mysterious. Windows 11 will be the main focus of tonight's launch event, and Microsoft has already showcased the most important update of the decade for Windows to us in all aspects before the event.</p><p>However, this press conference is not entirely without its highlights; there are still some details worth paying attention to.</p><p><b>What improvements can Windows 11 make to touch and gestures?</b></p><p><img src=\"https://static.tigerbbs.com/6bd9316044d53f9972729e9b791817e4\" tg-width=\"641\" tg-height=\"421\" referrerpolicy=\"no-referrer\"></p><p>After experiencing the development version of Windows 11, many people found that this so-called \"major version\" did not make any significant functional improvements compared to the previous Windows 10, except for some Design adjustments to the interface to make it more in line with Microsoft's Fluent Design language.</p><p>Some users even gave it a Windows 10 skin after experiencing the Windows 11 development version.</p><p>To some extent, Windows 11 is indeed not as significant a design improvement as it was when we switched from Win8 to Win10. However, if you understand Microsoft's previous design evolution on Windows, you will find that the current version of Windows 11 actually has a very similar design to Windows 10X, which Microsoft has already canceled.</p><p>Features that appeared in the Windows 11 development version, such as \"centering the Start Menu and multitasking on the same screen,\" were originally standard features of Windows 10X.</p><p>Therefore, the leaked Windows 11 is more like an iteration of the previous Windows 10X. However, since 10X is a product designed by Microsoft for dual touch screens, what touch-enabled features Windows 11 will add to the system will be an important point of interest at tonight's launch event.</p><p>Microsoft has confirmed that it plans to \"innovate and develop exciting sensor technologies\" for future versions of Windows. As part of Windows 11 or an upcoming Windows update, popular features such as \"user presence detection,\" gesture detection, and ambient light will be improved to \"deliver a dazzling user experience on Windows.\"</p><p>This means that Microsoft hopes to achieve a fusion of desktop and mobile devices through the new Windows 11. Although Microsoft's current mobile phone projects are basically in a semi-abandoned state, the Surface still requires touch operation to achieve an excellent experience in more usage scenarios. Therefore, the improvements in touch and gestures in Windows 11 are very important.</p><p><b>Brand new Windows App Store?</b></p><p><img src=\"https://static.tigerbbs.com/f95bc54f95bce56f6cd39680c5670f5e\" tg-width=\"641\" tg-height=\"410\" referrerpolicy=\"no-referrer\"></p><p>Although MacOS's App Store doesn't have a strong presence, the App Store currently offered by Windows 10 seems even less important in comparison.</p><p>However, this may be greatly improved in Windows 11, which arrives tonight.</p><p>According to media reports, Microsoft has been developing a brand new app store that is more inclusive and free. Microsoft plans to introduce more developers to the new app store, such as apps like Chorme or Firefox, which will be available for download in the Microsoft app store in the future.</p><p>Another major improvement will be in the payment mechanism. Microsoft may allow developers to bypass Microsoft's payment mechanism in the new App store and make in-app payments through third-party payment mechanisms in exchange for a 15% reduction in Microsoft's commission.</p><p>Don't be surprised if this comes true at tonight's press conference, since Microsoft is now uniting with Epic to resist...<a href=\"https://laohu8.com/S/AAPL\">Apple</a>The App Store's high \"Apple tax\". This move could influence the reshuffling of app service pricing methods by large companies like Microsoft, Apple, and Google in the coming years.</p><p>Microsoft recently announced that it will reduce the purchase commission for games listed in its App Store from 30% to 12%. This significant discount has put a lot of pressure on App stores like Steam.</p><p><b>Will Windows 11 focus on improving the user experience for professional users?</b></p><p>As the world's largest desktop operating system, Windows' professional capabilities have been overlooked by many people. In this Windows 11 development version, we actually saw Microsoft's optimizations and improvements for some professional users.</p><p>In the new Windows 11, Microsoft has improved the display for switching between multiple desktops, while also providing better support for multiple monitors. This has, to some extent, solved the problems that high-end users have accumulated over many years regarding multitasking.</p><p><img src=\"https://static.tigerbbs.com/e9e63bb5de9abe3a6b4ddd323172017f\" tg-width=\"641\" tg-height=\"513\" referrerpolicy=\"no-referrer\"></p><p>Meanwhile, Windows 11 has also focused more on improving the experience for game users. On this brand-new operating system, the new Xbox app is now integrated into Windows 11, providing quick access to Xbox Game Pass games, the social sections of the Xbox network, and the Xbox Store.</p><p>Meanwhile, Windows 11 has already been tested on XBox, and we hope to see more XBox features incorporated into the desktop, such as providing automatic HDR display or faster game loading speeds, to improve the PC gaming experience.</p><p><b>Free upgrade?</b></p><p><img src=\"https://static.tigerbbs.com/3eb69ed623b5cc7b7239d753886fda0b\" tg-width=\"641\" tg-height=\"362\" referrerpolicy=\"no-referrer\"></p><p>Yes, this is what we most want to see on Windows 11.</p><p>When Microsoft previously upgraded Windows 7/8 to Windows 10, it used a free upgrade method, allowing all users to upgrade to the corresponding Windows 10 version. We hope that the free service will still appear on Windows 11.</p><p>The market has successfully told Microsoft that there is no point in charging users to upgrade their systems. As an operating system development company, Microsoft relies on OEM licensing and commercial licensing for more of its software revenue. Therefore, it is very likely that Windows 11 will still use the same free upgrade method as Windows 10.</p><p>Although Microsoft has sneaked Windows 11 away, it has actually left us with a lot of suspense. These answers may be revealed when Microsoft officially holds its new product launch event at 11 PM Beijing time on June 24th.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/g8NrMXShsncnruGuc8TTjw\">腾讯科技</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a04bf2da8ab76e823e11aa8e2f8fa5a2","relate_stocks":{"MSFT":"微软"},"source_url":"https://mp.weixin.qq.com/s/g8NrMXShsncnruGuc8TTjw","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1121154040","content_text":"北京时间6月24日晚11点，微软将召开一场新品发布会，被微软CEO纳德拉称之为Windows十年来“最重要的更新”即将到来。\n尽管微软并没有在任何的公开场合确认过即将发布的新品，但因为6月16日Windows 11开发版本的重大泄露，让这件事变得没有那么神秘了。Windows 11将会成为今晚发布会的主角，而微软口中Windows十年最重要的更新，也已经在发布会之前就全方位的展示给我们了。\n但关于这场发布会，也不能说完全没有看点，其中还有一些细节值得我们关注。\nWindows 11在触摸和手势上能有何改善？\n\n很多人在体验过Windows 11的开发版本之后，发现这个所谓的“大版本”和之前的Windows 10相比，除了在界面上进行了一些设计调整，让它更贴合微软Fluent Design设计语言外，并让没有非常明显的功能性改进。\n甚至有的用户在体验完Windows 11开发版之后，给它了一个Windows 10皮肤的定位。\n从一定程度上讲，Windows 11确实不如之前从Win8转Win10时，设计改进巨大。但实际上如果你了解之前微软在Windows上的设计演进外，你会发现当下这个版本Windows 11实际上和已经被微软砍掉的Windows 10X有着极为相似的设计。\n包括“开始菜单居中、同屏多任务布局”等等在Windows 11开发版上出现的功能，原来都是Windows 10X的标配。\n所以目前泄露的Windows 11，更像是之前Windows 10X的迭代版本。但由于10X是微软为触摸双屏幕打造的产品，因此Windows 11将会在系统上增加哪些支持触摸操作的特性，将会成为今晚发布会上重要的看点。\n微软方面已经确认，正计划为未来的Windows版本 “创新和开发令人兴奋的传感器技术”。作为Windows 11或即将到来的Windows更新的一部分，“用户存在检测”、手势检测和环境光等流行功能将得到改进，以 “实现Windows上令人眼花缭乱的用户体验”。\n这意味着微软希望通过新的Windows 11来实现桌面和移动端的融合，尽管微软目前的手机项目基本上处于半放弃状态，但Surface依然需要触摸操作来实现在更多使用场景下的出色体验，因此Windows 11在触摸和手势上的改进，非常重要。\n全新的Windows App Store？\n\n尽管MacOS的App Store存在感也不强，但是相比之下，Windows 10目前提供的应用商店显得更加鸡肋。\n不过这件事可能会在今晚到来的Windows 11上大为改善。\n据媒体报道，微软一直在开发一个全新的应用商店，它更加的海纳百川也更加的自由。微软计划在新的应用商店中引入更多的开发者，比如Chorme或者Firefox这样的应用，未来都可以在微软应用商店进行下载。\n另外一个重大的改进，将会是支付机制上。微软或许将在新的应用商店中允许开发者绕过微软的支付机制，通过第三方的支付机制实现App内付款，以换得减免15%的微软抽成。\n如果这件事在今天晚上的发布会上成真，请别惊讶，毕竟微软现在正和Epic统一战线，以抵制苹果App Store高昂的“苹果税”。此举可能会影响到未来几年内，微软、苹果、Google这样的大公司，在应用服务上的收费方式重新洗牌。\n微软最近也宣布了将自家App Store中上架游戏的购买抽成从之前的30%降到12%，这大幅的优惠，让Steam这样的应用商店倍感压力。\nWindows 11将重点提升专业用户的使用感受？\nWindows作为全球最大的桌面操作系统，其专业能力其实一直被很多人忽视。而在此次Windows 11开发版中，我们其实看到了微软对于一些专业用户的优化改进。\n微软在新的Windows 11中，改善了多桌面之间切换的显示方式，同时对于多显示器的支持，也更加的出色，这从一定程度上解决了高端用户对于多任务处理上，多年积累的问题。\n\n同时Windows 11也更专注的改善了游戏用户的体验。在这套全新的操作系统上，新的Xbox应用程序现已集成到Windows 11中，提供对Xbox Game Pass游戏、Xbox网络的社交部分和Xbox商店的快速访问。\n同时目前Windows 11也已经在XBox上进行了测试，我们也希望看到更多XBox的功能被纳入到桌面端来，比如提供自动HDR显示功能，或者是更快的游戏加载速度等等，一次提升PC在游戏方面的体验。\n免费升级？\n\n是的，这是我们最希望在Windows 11上看到的。\n微软之前在Windows 7/8升级Windows 10时，采用了免费升级的方式，所有用户都可以升级对应的Win10版本。我们希望免费这件事，依然会出现在Windows 11上。\n市场已经成功的告诉微软，从用户手里收钱升级系统这件事是没有意义的，微软作为一家操作系统开发公司，更多软件的收入要来自OEM授权和商业许可。因此很有可能Win11依然会采用之前Win10免费升级的方式。\n尽管微软Windows 11已经偷跑，但实际上微软还是留下了不少悬念给我们。北京时间6月24日23点，微软正式召开新品发布会之时，这些答案可能会被揭开。","news_type":1,"symbols_score_info":{"MSFT":0.9}},"isVote":1,"tweetType":1,"viewCount":4486,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":321716430,"gmtCreate":1615470086420,"gmtModify":1704783190476,"author":{"id":"3569896467959373","authorId":"3569896467959373","name":"Kaslim","avatar":"https://static.tigerbbs.com/f82c85a933438b27edc2f005ba118976","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569896467959373","idStr":"3569896467959373"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/321716430","repostId":"1136225097","repostType":4,"repost":{"id":"1136225097","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":1615192483,"share":"https://ttm.financial/m/news/1136225097?lang=en_US&edition=fundamental","pubTime":"2021-03-08 16:34","market":"uk","language":"zh","title":"Starting March 14, US stocks will enter daylight saving time, with both opening and closing trading one hour earlier.","url":"https://stock-news.laohu8.com/highlight/detail?id=1136225097","media":"老虎资讯综合","summary":"美东时间3月14日2:00（北京时间3月14日起），北美地区开始实行夏令时，美股市场开盘和收盘均将提前一小时，至美东时间2021年11月7日结束。即美股交易时间更改为北京时间21:30至次日凌晨04:","content":"<p>At 2:00 AM Eastern Time on March 14 (starting March 14 Beijing Time), North America will implement Daylight Saving Time, and the US stock market will open and close one hour earlier, ending on November 7, 2021 Eastern Time.</p><p>This means that US stock trading hours have been changed to 21:30 Beijing time to 04:00 the following morning, pre-market trading hours from 16:00 to 21:30, and after-market trading hours from 04:00 to 08:00. March 15th was the first trading day for US stocks after the start of daylight saving time.</p><p>Daylight saving time in Europe will officially end on March 28, Beijing time, and the country will switch to summer time.</p><p><b>Additional background:</b></p><p>Daylight saving time, also known as Daylight saving time or Summer time, is a system of artificially determining local time in order to save energy. The uniform time used during the implementation of this system is called \"daylight saving time\". In summer, when dawn breaks early, the time is usually advanced by one hour. This allows people to get up early and go to bed early to reduce the amount of lighting and make full use of sunlight to save electricity.</p><p>It is understood that daylight saving time originated in the United States in 1918, when the United States first implemented daylight saving time when it entered World War I, but it was immediately abolished after the war and reinstated in 1966.</p><p>Whether or not to implement daylight saving time in the United States is entirely up to each state and county, and is not uniformly regulated by the federal government. Currently, most parts of the United States observe daylight saving time. Areas in the United States that do not observe daylight saving time include most of Arizona, but a small part of the northeastern part of the state observes daylight saving time. Hawaii; Puerto Rico and the Virgin Islands; American Samoa, Guam and the Northern Mariana Islands.<img src=\"https://static.tigerbbs.com/2b3c5afcedf9e4a595b7e8bdffd98507\" tg-width=\"1920\" tg-height=\"1200\" 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>Starting March 14, US stocks will enter daylight saving time, with both opening and closing trading one hour earlier.</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\">\nStarting March 14, US stocks will enter daylight saving time, with both opening and closing trading one hour earlier.\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\">2021-03-08 16:34</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>At 2:00 AM Eastern Time on March 14 (starting March 14 Beijing Time), North America will implement Daylight Saving Time, and the US stock market will open and close one hour earlier, ending on November 7, 2021 Eastern Time.</p><p>This means that US stock trading hours have been changed to 21:30 Beijing time to 04:00 the following morning, pre-market trading hours from 16:00 to 21:30, and after-market trading hours from 04:00 to 08:00. March 15th was the first trading day for US stocks after the start of daylight saving time.</p><p>Daylight saving time in Europe will officially end on March 28, Beijing time, and the country will switch to summer time.</p><p><b>Additional background:</b></p><p>Daylight saving time, also known as Daylight saving time or Summer time, is a system of artificially determining local time in order to save energy. The uniform time used during the implementation of this system is called \"daylight saving time\". In summer, when dawn breaks early, the time is usually advanced by one hour. This allows people to get up early and go to bed early to reduce the amount of lighting and make full use of sunlight to save electricity.</p><p>It is understood that daylight saving time originated in the United States in 1918, when the United States first implemented daylight saving time when it entered World War I, but it was immediately abolished after the war and reinstated in 1966.</p><p>Whether or not to implement daylight saving time in the United States is entirely up to each state and county, and is not uniformly regulated by the federal government. Currently, most parts of the United States observe daylight saving time. Areas in the United States that do not observe daylight saving time include most of Arizona, but a small part of the northeastern part of the state observes daylight saving time. Hawaii; Puerto Rico and the Virgin Islands; American Samoa, Guam and the Northern Mariana Islands.<img src=\"https://static.tigerbbs.com/2b3c5afcedf9e4a595b7e8bdffd98507\" tg-width=\"1920\" tg-height=\"1200\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/2b3c5afcedf9e4a595b7e8bdffd98507","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136225097","content_text":"美东时间3月14日2:00（北京时间3月14日起），北美地区开始实行夏令时，美股市场开盘和收盘均将提前一小时，至美东时间2021年11月7日结束。即美股交易时间更改为北京时间21:30至次日凌晨04:00，盘前交易时间为16:00至21:30，盘后交易时间为04:00至08:00。3月15日为进入夏令时后美股首个交易日。欧洲地区的冬令时时间将会在北京时间 3月28日正式结束，转为夏令时时间。背景补充：夏时制，又称日光节约时制（英语：Daylight saving time）和夏令时间（英语：Summer time），是一种为节约能源而人为规定地区时间的制度。该制度实行期间所采用的统一时间称为“夏令时”。一般在天亮早的夏季人为将时间提前1小时，这样可使人早起早睡减少照明量，以充分利用日光节约用电。据了解，美国“夏令时”起源于1918年，当时的美国在参加第一次世界大战时首次实行夏时制，但战后立即取消，与1966年再次恢复。美国夏时制的实行与否，完全由各州、各县自行决定，不由联邦政府统一规定。目前美国绝大部分地区实行夏令时，美国不实行夏令时的地区包括：亚利桑那州大部分地区，但该州东北的一小部分使用夏令时；夏威夷州；波多黎各和维京群岛；美属萨摩亚、关岛和北马里亚纳群岛。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":4639,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":389015656,"gmtCreate":1612620509175,"gmtModify":1704873247449,"author":{"id":"3569896467959373","authorId":"3569896467959373","name":"Kaslim","avatar":"https://static.tigerbbs.com/f82c85a933438b27edc2f005ba118976","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569896467959373","idStr":"3569896467959373"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/389015656","repostId":"1157800725","repostType":4,"repost":{"id":"1157800725","kind":"news","pubTimestamp":1612573220,"share":"https://ttm.financial/m/news/1157800725?lang=en_US&edition=fundamental","pubTime":"2021-02-06 09:00","market":"us","language":"zh","title":"When Luckin Coffee files for bankruptcy protection, does it protect the company or its investors?","url":"https://stock-news.laohu8.com/highlight/detail?id=1157800725","media":"第一财经","summary":"2月5日，瑞幸咖啡（LKNCY.O）在公司官网发布了公司正申请破产保护的公告。该公告称，公司根据《破产法》第11篇第15章（Chapter 15 Petition）向美国纽约南区破产法院提出申请。目前","content":"<p><div>On February 5, Luckin Coffee (LKNCY.O) announced on its official website that it was applying for bankruptcy protection. The announcement stated that the company filed a Petition with the U.S. Bankruptcy Court for the Southern District of New York under Chapter 15 of Title 11 of the Bankruptcy Code. The company is currently in negotiations with its stakeholders regarding a financial restructuring to strengthen its balance sheet, enabling it to continue operating while serving the interests of all stakeholders. Luckin Coffee stated that all of its stores are currently open, providing its customers in China with high-quality, affordable, and...</p><p><a href=\"https://www.yicai.com/news/100942873.html\">Web page link</a></div></p>","source":"dyvj","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>When Luckin Coffee files for bankruptcy protection, does it protect the company or its investors?</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\">\nWhen Luckin Coffee files for bankruptcy protection, does it protect the company or its investors?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">第一财经</strong><span class=\"h-time small\">2021-02-06 09:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div>On February 5, Luckin Coffee (LKNCY.O) announced on its official website that it was applying for bankruptcy protection. The announcement stated that the company filed a Petition with the U.S. Bankruptcy Court for the Southern District of New York under Chapter 15 of Title 11 of the Bankruptcy Code. The company is currently in negotiations with its stakeholders regarding a financial restructuring to strengthen its balance sheet, enabling it to continue operating while serving the interests of all stakeholders. Luckin Coffee stated that all of its stores are currently open, providing its customers in China with high-quality, affordable, and...</p><p><a href=\"https://www.yicai.com/news/100942873.html\">Web page link</a></div></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.yicai.com/news/100942873.html\">第一财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/324e43c6c2694249d5fc03a098a94f36","relate_stocks":{},"source_url":"https://www.yicai.com/news/100942873.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157800725","content_text":"2月5日，瑞幸咖啡（LKNCY.O）在公司官网发布了公司正申请破产保护的公告。该公告称，公司根据《破产法》第11篇第15章（Chapter 15 Petition）向美国纽约南区破产法院提出申请。目前公司正在与其利益相关者就公司财务重组进行谈判，通过加强公司的资产负债表，使公司能够继续经营，同时为所有利益相关者谋利益。瑞幸咖啡表示，目前公司所有门店均保持营业，为其在中国的客户提供高质量、经济实惠和方便的产品。第15章请愿书的提交预计不会对公司的日常运营产生重大影响。公司将继续在正常业务过程中履行其贸易义务，包括向供应商、供应商和员工付款。大约一年前，一份长达89页的做空报告令瑞幸咖啡股价涨势戛然而止。2020年4月2日，瑞幸咖啡提交给SEC的文件显示，公司董事会成立的专门委员会经过调查初步明确，2019年第二季度到2019年第四季度期间，瑞幸咖啡与虚假交易相关的总销售金额约为22亿元人民币，整个市场哗然，瑞幸咖啡股价接连闪崩。6月29日，瑞幸咖啡正式在纳斯达克交易所停止交易，进入退市程序，从上市到退市不足一年半。2020年底，SEC对瑞幸咖啡发起诉状，称其在公开披露的2019年财务报表中，故意并实质性地夸大了收入和费用，低估其净亏损。此外，在2019年4月到2020年1月期间，瑞幸咖啡从债券和股票投资者那里至少筹集了逾8.64亿美元。在不承认或否认这些指控的情况下，瑞幸咖啡已同意在法庭批准的情况下达成和解，包括永久性禁令和1.8亿美元的罚款。与SEC的诉讼和解之后，瑞幸咖啡还欠投资者一个交代，至少面临投资者的证券集体诉讼（民事诉讼）和美国司法部针对高管的指控（刑事诉讼）。集体诉讼开启后，某些集体成员也有几率选择退出集体诉讼，并单独发起诉讼。瑞幸咖啡的民事诉讼已在进行当中，诉讼程序可能需要至少2~3年，而刑事案件的事件可能会更长。或许是不堪重负，瑞幸咖啡终于提出破产申请。2月5日午后，瑞幸咖啡在其官方微博上称，申请破产保护是错误的理解，“其实这是一个好消息，让瑞幸重生之路又进一步！”瑞幸咖啡表示，作为公司重组的重要步骤，也是开曼程序下常见做法，临时清盘人向美国法院提起程序，寻求美国法院对于公司目前在开曼进行的临时清盘程序的认可。该程序将会暂停美国境内针对公司的诉讼程序，为完成开曼重组创造条件并有序完成重组。值得注意的是，记者查阅过往著名公司的破产申请案例发现，与此次瑞幸不同的是，大多依照的是Chapter 7或11。一位曾经多次参与美国公司破产清算的律师对记者解释，公司申请破产后有多种不同的做法，较为常见的是Chapter 7和Chapter 11。“如果将公司看作病人，Chapter 11犹如给公司做手术，是一场最后关乎“开膛破肚”的救治，而Chapter7则更像是直接宣告公司的“死亡”。”详细来看，如果公司申请Chapter 7可以被理解为清算破产，公司会马上进入清算环节，律师、会计师、法院对公司进行资产清算后，债权人再从公司剩余资金里按顺序分钱。Chapter 11则是重组破产。北京郝俊波律师事务所主任郝俊波对记者称，如果通过Chapter 11，公司可以和债权人进行关于重组的谈判，可以等到有了重组方案才进行偿还，那么在形成这个重组方案之前，公司暂时不用再支付债务，“相当于等于给公司一个缓冲延期的机会。”过去有诸多公司通过Chapter 11获得喘息重生的机会。比如，曾在核技术、燃料及服务领域颇有建树的西屋电器公司（Westinghouse Electric Company）于2017年3月向美国法院申请了Chapter 11破产保护后，Brookfield顺利从日本东芝公司手中收购了西屋，完成转型重组。2001年11月8日，不堪舆论重压的安然被迫承认做了假账，虚报自1997年以来共计近6亿美元的盈利。12月2日，因受到债权人的压力和法律诉讼威胁，公司管理层被迫根据美国破产法第11章申请破产保护，破产清单中所列资产高达498亿美元，成为美国历史上最大的破产企业。从性质上，Chapter 15与 Chapter 11较为相似，正式被称为“《美国法典》第11章的第15章（Chapter 15, Title 11 of the United States Code）”，起源于1978年制定的《美国破产法》第304条。鉴于涉及多个司法管辖区的破产频率不断增加，304在2005年被废止，取而代之的是第15章，标题为“辅助和其他跨境案件”。Chapter 15与 Chapter 11两者最大的区别在于，Chapter 15通常是针对外国个人或实体的次级破产程序，允许外国人在包括在美国在内的多个国家/地区拥有财产或业务的情况下，向美国破产法院申请破产，但主要过程通常在外国公司的母国进行。通过第15章破产，在美国有债务但居住在国外的债务人也可以先在本国申请破产，而在美国的申报被视为次级或辅助申报。数据显示，截至2019年底，2009年、2016年和2019年提交的第Chapter 15破产案件数量最多。在2020年春季，许多外国公司因新冠疫情受困也纷纷申请第15章破产，如法国媒体公司Technicolor SA、加拿大茶叶经销商DAVIDsTEA、澳大利亚航空公司维珍澳大利亚航空、加拿大马戏团太阳马戏团娱乐集团等赫然在列。一旦外国实体根据Chapter 15申请破产，美国破产法院就可以授权受托人或审查员开始行动，并且在不违反美国法律的情况下，允许美国法院向外国代表提供额外的帮助；在外国法院的法律可能缺乏的情况下，允许美国法院为提出破产申请的外国国民提供额外的帮助；赋予外国债权人参与美国破产案的权利；防止在破产案件中对外国债权人的歧视；需要在美国提交的破产案件中通知外国债权人；赋予外国债权人在美国破产案件中提出索赔的权利。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":4371,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}