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wallstreaks

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2021-08-14

Why pay them in dollars, all of them should be paid in doge or Shiba inu

Tesla Inc Says Technoking Of Tesla And CEO, Elon Musk's 2020 Total Compensation Was Nil Versus $23,760 In 2019 - SEC Filing<blockquote>特斯拉公司表示，特斯拉Technoking兼首席执行官Elon Musk 2020年的总薪酬为零，而2019年向SEC提交的文件中为23,760美元</blockquote>

2021-02-20

$GameStop(GME)$still holding on to support retail

2021-05-30

Travel will not do well

抱歉，原内容已删除

2021-03-20

Yeah, keep stocks overvalued as long as possible

Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”继续支持经济</blockquote>

2021-03-13

$Riot Blockchain, Inc.(RIOT)$go BTC

2021-03-09

$GameStop(GME)$diamnd hands apes

2021-08-13

$Apple(AAPL)$will apple breaks new high

2021-05-30

Will plunge on Monday

抱歉，原内容已删除

2021-03-24

$PDD 20210401 135.0 PUT(PDD)$one day effort

2021-03-13

Support

抱歉，原内容已删除

2021-03-20

Just part of consolidation.

抱歉，原内容已删除

2021-03-13

Give me weed

Marijuana stocks fall<blockquote>大麻库存下跌</blockquote>

2021-03-05

Buy more to average down

Palantir plunged more than 13%<blockquote>Palantir暴跌超13%</blockquote>

2021-02-01

GME AMC!

抱歉，原内容已删除

2021-03-26

Good trading bro//@Hengah: Comment leh

RLX Technology's quarterly revenue jumps 44.5% QoQ<blockquote>RLX科技季度收入环比增长44.5%</blockquote>

2021-03-25

Love this stonk

Here's Why Beyond Meat Stock Could Shine Again in 2021<blockquote>这就是为什么Beyond Meat股票可能在2021年再次大放异彩</blockquote>

2021-03-23

I have named my dotter Cathie in honour of ARK

Jury out on whether ARK Innovation returns are due to Cathie Wood’s skill or luck<blockquote>方舟创新的回报是由于凯西·伍德的技能还是运气还没有定论</blockquote>

2021-03-20

Just another way to bypass IPO process.

抱歉，原内容已删除

2021-03-19

Rocket to the 🌙$PLTR 20210409 20.0 PUT(PLTR)$

2021-03-11

Looking ahead to 35000

抱歉，原内容已删除

去老虎APP查看更多动态

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((Reuters.Briefs@Thomsonreuters.Com;)).</tsla.o></p><p><blockquote><html><body>特斯拉公司<tsla.o>：特斯拉公司表示，特斯拉Technoking兼首席执行官Elon Musk 2020年的总薪酬为零，而2019年向Sec提交的文件中为23,760美元。特斯拉公司表示，硬币大师兼首席财务官Zachary Kirkhorn 2020年的总薪酬为4660万美元，而2019年为2120万美元。进一步的公司报道：Tsla.O。（（Reuters.Briefs@Thomsonreuters.Com；））。</tsla.o></body></html></blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></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>Tesla Inc Says Technoking Of Tesla And CEO, Elon Musk's 2020 Total Compensation Was Nil Versus $23,760 In 2019 - SEC Filing<blockquote>特斯拉公司表示，特斯拉Technoking兼首席执行官Elon Musk 2020年的总薪酬为零，而2019年向SEC提交的文件中为23,760美元</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Inc Says Technoking Of Tesla And CEO, Elon Musk's 2020 Total Compensation Was Nil Versus $23,760 In 2019 - SEC Filing<blockquote>特斯拉公司表示，特斯拉Technoking兼首席执行官Elon Musk 2020年的总薪酬为零，而2019年向SEC提交的文件中为23,760美元</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086160438\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a113a995fbbc262262d15a5ce37e7bc5);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">T-Reuters </p>\n<p class=\"h-time smaller\">2021-08-14 04:39</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><body>Tesla Inc <tsla.o>:Tesla Inc Says Technoking Of Tesla And Ceo, Elon Musk'S 2020 Total Compensation Was Nil Versus $23,760 In 2019 - Sec Filing.Tesla Inc Says Master Of Coin And Cfo, Zachary Kirkhorn'S 2020 Total Compensation Was $46.6 Million Versus $21.2 Million In 2019.Further Company Coverage: Tsla.O. ((Reuters.Briefs@Thomsonreuters.Com;)).</tsla.o></p><p><blockquote><html><body>特斯拉公司<tsla.o>：特斯拉公司表示，特斯拉Technoking兼首席执行官Elon Musk 2020年的总薪酬为零，而2019年向Sec提交的文件中为23,760美元。特斯拉公司表示，硬币大师兼首席财务官Zachary Kirkhorn 2020年的总薪酬为4660万美元，而2019年为2120万美元。进一步的公司报道：Tsla.O。（（Reuters.Briefs@Thomsonreuters.Com；））。</tsla.o></body></html></blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SANA":"Sana Biotechnology, Inc.","LHDX":"Lucira Health, Inc.","TSS":"Total System Services","CGEM":"Cullinan Therapeutics","TSLA":"特斯拉","LABP":"Landos Biopharma, Inc."},"source_url":"https://www.trkd.thomsonreuters.com","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2159721520","content_text":"Tesla Inc :Tesla Inc Says Technoking Of Tesla And Ceo, Elon Musk'S 2020 Total Compensation Was Nil Versus $23,760 In 2019 - Sec Filing.Tesla Inc Says Master Of Coin And Cfo, Zachary Kirkhorn'S 2020 Total Compensation Was $46.6 Million Versus $21.2 Million In 2019.Further Company Coverage: Tsla.O. ((Reuters.Briefs@Thomsonreuters.Com;)).","news_type":1,"symbols_score_info":{"TSLA":1,"TSS":1,"SANA":1,"LABP":1,"CGEM":1,"APR":1,"LHDX":1}},"isVote":1,"tweetType":1,"viewCount":1896,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":894721875,"gmtCreate":1628858596297,"gmtModify":1631890383371,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"Yeah","listText":"Yeah","text":"Yeah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/894721875","repostId":"2158325931","repostType":4,"repost":{"id":"2158325931","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1628776169,"share":"https://www.laohu8.com/m/news/2158325931?lang=zh_CN&edition=full","pubTime":"2021-08-12 21:49","market":"us","language":"en","title":"BioNTech, Moderna Gain on Report of FDA’s Likely Nod for Booster<blockquote>BioNTech和Moderna因FDA可能批准增强剂的报道而上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2158325931","media":"Tiger Newspress","summary":"BioNTech and Moderna stock rose in early trading on Thursday, on track to recover some of the previo","content":"<p>BioNTech&nbsp;and Moderna&nbsp;stock rose in&nbsp;early&nbsp;trading&nbsp;on Thursday, on track to recover some of the previous session’s losses, following a report in the Wall Street Journal that the FDA could authorize Covid-19 booster shots for immunocompromised people.</p><p><blockquote>BioNTech和Moderna股价周四早盘上涨，有望收复前一交易日的部分跌幅，此前《华尔街日报》报道称FDA可能授权为免疫功能低下的人注射Covid-19加强针。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2860e1c0dcbf5f35624516c9d0ff29db\" tg-width=\"895\" tg-height=\"647\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> BioNTech and Moderna were up 3.96% and 2% after plunging 14% and 15.6% in the previous session, respectively. Pfizer (NYSE:PFE), which shed 4% on Wednesday, was up 1%.</p><p><blockquote>BioNTech和Moderna在前一交易日分别暴跌14%和15.6%后上涨3.96%和2%。辉瑞(NYSE：PFE)周三下跌4%，现上涨1%。</blockquote></p><p> The WSJ reported that the Food and Drug Administration is nearing a decision to authorize booster shots for people with weak immunity amid a surge in new COVID cases because of the rapid spread of the delta variant.</p><p><blockquote>《华尔街日报》报道称，由于德尔塔变异毒株的快速传播，新冠病例激增，美国食品和药物管理局即将决定授权为免疫力较弱的人进行加强注射。</blockquote></p><p> There is growing evidence that two shots of the vaccines are inadequate for people with low immunity. Vaccine makers plan to approach the FDA this month or next for approval to their booster shots.</p><p><blockquote>越来越多的证据表明，对于免疫力低下的人来说，两针疫苗是不够的。疫苗制造商计划在本月或下个月向FDA申请加强注射的批准。</blockquote></p><p> BioNTech, Moderna and Pfizer all closed lower Wednesday following news that Europe’s drug regulator is studying three new conditions reported by a small number of people after getting Covid-19 shots to assess if they may be possible side-effects.</p><p><blockquote>BioNTech、Moderna和辉瑞周三均收低，此前有消息称，欧洲药品监管机构正在研究少数人在接种Covid-19疫苗后报告的三种新病症，以评估它们是否可能是副作用。</blockquote></p><p> The conditions were reported in patients who took the mRNA vaccines made by either Moderna or BioNTech-Pfizer.</p><p><blockquote>据报道，服用Moderna或BioNTech-Pfizer生产的mRNA疫苗的患者出现了这种情况。</blockquote></p><p> Pfizer and BioNTech are collaborating on the research and marketing of their COVID-19 vaccine. Expenses and profit from the vaccine are split equally between Pfizer and BioNTech.</p><p><blockquote>辉瑞和BioNTech正在合作研究和营销他们的新冠肺炎疫苗。疫苗的费用和利润由辉瑞和BioNTech平分。</blockquote></p><p></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>BioNTech, Moderna Gain on Report of FDA’s Likely Nod for Booster<blockquote>BioNTech和Moderna因FDA可能批准增强剂的报道而上涨</blockquote></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\">\nBioNTech, Moderna Gain on Report of FDA’s Likely Nod for Booster<blockquote>BioNTech和Moderna因FDA可能批准增强剂的报道而上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-12 21:49</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>BioNTech&nbsp;and Moderna&nbsp;stock rose in&nbsp;early&nbsp;trading&nbsp;on Thursday, on track to recover some of the previous session’s losses, following a report in the Wall Street Journal that the FDA could authorize Covid-19 booster shots for immunocompromised people.</p><p><blockquote>BioNTech和Moderna股价周四早盘上涨，有望收复前一交易日的部分跌幅，此前《华尔街日报》报道称FDA可能授权为免疫功能低下的人注射Covid-19加强针。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2860e1c0dcbf5f35624516c9d0ff29db\" tg-width=\"895\" tg-height=\"647\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> BioNTech and Moderna were up 3.96% and 2% after plunging 14% and 15.6% in the previous session, respectively. Pfizer (NYSE:PFE), which shed 4% on Wednesday, was up 1%.</p><p><blockquote>BioNTech和Moderna在前一交易日分别暴跌14%和15.6%后上涨3.96%和2%。辉瑞(NYSE：PFE)周三下跌4%，现上涨1%。</blockquote></p><p> The WSJ reported that the Food and Drug Administration is nearing a decision to authorize booster shots for people with weak immunity amid a surge in new COVID cases because of the rapid spread of the delta variant.</p><p><blockquote>《华尔街日报》报道称，由于德尔塔变异毒株的快速传播，新冠病例激增，美国食品和药物管理局即将决定授权为免疫力较弱的人进行加强注射。</blockquote></p><p> There is growing evidence that two shots of the vaccines are inadequate for people with low immunity. Vaccine makers plan to approach the FDA this month or next for approval to their booster shots.</p><p><blockquote>越来越多的证据表明，对于免疫力低下的人来说，两针疫苗是不够的。疫苗制造商计划在本月或下个月向FDA申请加强注射的批准。</blockquote></p><p> BioNTech, Moderna and Pfizer all closed lower Wednesday following news that Europe’s drug regulator is studying three new conditions reported by a small number of people after getting Covid-19 shots to assess if they may be possible side-effects.</p><p><blockquote>BioNTech、Moderna和辉瑞周三均收低，此前有消息称，欧洲药品监管机构正在研究少数人在接种Covid-19疫苗后报告的三种新病症，以评估它们是否可能是副作用。</blockquote></p><p> The conditions were reported in patients who took the mRNA vaccines made by either Moderna or BioNTech-Pfizer.</p><p><blockquote>据报道，服用Moderna或BioNTech-Pfizer生产的mRNA疫苗的患者出现了这种情况。</blockquote></p><p> Pfizer and BioNTech are collaborating on the research and marketing of their COVID-19 vaccine. Expenses and profit from the vaccine are split equally between Pfizer and BioNTech.</p><p><blockquote>辉瑞和BioNTech正在合作研究和营销他们的新冠肺炎疫苗。疫苗的费用和利润由辉瑞和BioNTech平分。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PFE":"辉瑞","MRNA":"Moderna, Inc.","BNTX":"BioNTech SE"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2158325931","content_text":"BioNTech and Moderna stock rose in early trading on Thursday, on track to recover some of the previous session’s losses, following a report in the Wall Street Journal that the FDA could authorize Covid-19 booster shots for immunocompromised people.\n\nBioNTech and Moderna were up 3.96% and 2% after plunging 14% and 15.6% in the previous session, respectively. Pfizer (NYSE:PFE), which shed 4% on Wednesday, was up 1%.\nThe WSJ reported that the Food and Drug Administration is nearing a decision to authorize booster shots for people with weak immunity amid a surge in new COVID cases because of the rapid spread of the delta variant.\nThere is growing evidence that two shots of the vaccines are inadequate for people with low immunity. Vaccine makers plan to approach the FDA this month or next for approval to their booster shots.\nBioNTech, Moderna and Pfizer all closed lower Wednesday following news that Europe’s drug regulator is studying three new conditions reported by a small number of people after getting Covid-19 shots to assess if they may be possible side-effects.\nThe conditions were reported in patients who took the mRNA vaccines made by either Moderna or BioNTech-Pfizer.\nPfizer and BioNTech are collaborating on the research and marketing of their COVID-19 vaccine. Expenses and profit from the vaccine are split equally between Pfizer and BioNTech.","news_type":1,"symbols_score_info":{"MRNA":0.9,"PFE":0.9,"BNTX":0.9}},"isVote":1,"tweetType":1,"viewCount":1225,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":894723890,"gmtCreate":1628858515710,"gmtModify":1631890383374,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>will apple breaks new high","listText":"<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>will apple breaks new high","text":"$Apple(AAPL)$will apple breaks new high","images":[{"img":"https://static.tigerbbs.com/d71a61212c2d0085c6e48e531ea00c97","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/894723890","isVote":1,"tweetType":1,"viewCount":2703,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":137709665,"gmtCreate":1622385287557,"gmtModify":1631890383377,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"More frauds and scam in US markets will go undetected. Ponzi billionaires will walk free.","listText":"More frauds and scam in US markets will go undetected. Ponzi billionaires will walk free.","text":"More frauds and scam in US markets will go undetected. Ponzi billionaires will walk free.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/137709665","repostId":"1121375996","repostType":2,"repost":{"id":"1121375996","kind":"news","pubTimestamp":1622080481,"share":"https://www.laohu8.com/m/news/1121375996?lang=zh_CN&edition=full","pubTime":"2021-05-27 09:54","market":"us","language":"en","title":"SEC’s Gensler seeks bigger budget amid SPACs, crypto and ‘once-in-a-generation’ IPO boom<blockquote>SEC的Gensler在SPAC、加密货币和“一代人一次”的IPO热潮中寻求更大的预算</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1121375996","media":"seekingalpha","summary":"New U.S. Securities and Exchange Commission Chairman Gary Gensler asked Congress on Wednesday for in","content":"<p>New U.S. Securities and Exchange Commission Chairman Gary Gensler asked Congress on Wednesday for increased funding so his agency canhandle the rise of SPACs, cryptocurrencies and today’s “once-in-a-generation” level of traditional IPOs.</p><p><blockquote>美国证券交易委员会新任主席加里·詹斯勒(Gary Gensler)周三要求国会增加资金，以便他的机构能够应对SPAC、加密货币的崛起以及当今“一代人一次”的传统IPO水平。</blockquote></p><p> “The SEC oversees the nearly $100-trillion capital markets, [but] as our capital markets have grown … the SEC has not grown to meet the needs of the 2020s,” Gensler said inprepared remarksto a House Appropriations subcommittee.</p><p><blockquote>Gensler在向众议院拨款小组委员会发表的准备好的讲话中表示：“SEC监管着近100万亿美元的资本市场，但随着我们资本市场的发展……SEC的发展尚未满足2020年代的需求。”</blockquote></p><p> The SEC chief said that even as SPACs, cryptos, IPOs and other financial instruments have expanded, his agency’s headcount has dropped some 4% in four years.</p><p><blockquote>这位SEC负责人表示，尽管SPAC、加密货币、IPO和其他金融工具有所扩张，但他的机构的员工人数在四年内下降了约4%。</blockquote></p><p> Gensler said the SEC’s enforcement division’s staff has decreased by 6%, while its corporate-finance unit has lost 20% of headcount in the past five years.</p><p><blockquote>Gensler表示，SEC执法部门的员工减少了6%，而其企业融资部门在过去五年中减少了20%的员工。</blockquote></p><p> He warned that such staffing has shrunk even as new investment avenues have exploded. For example, Gensler said that 700 special purpose acquisition companies have filed for IPOs so far this year, with some 300 completed to date. That’s up from just 13 completed SPAC initial public offerings for 2016 as a whole.</p><p><blockquote>他警告说，尽管新的投资渠道激增，但此类人员配备却在减少。例如，Gensler表示，今年迄今为止已有700家特殊目的收购公司申请IPO，其中约300家已完成IPO。2016年全年仅完成13起SPAC首次公开募股。</blockquote></p><p> The SEC chief added that the crypto market has grown to $1.6T from just $9B five years ago. And Gensler noted that U.S. markets are “in the midst of a once-in-a-generation wave of traditional initial public offerings.”</p><p><blockquote>SEC负责人补充说，加密货币市场已从五年前的9B美元增长到1.6 T美元。詹斯勒指出，美国市场“正处于一代人一次的传统首次公开募股浪潮中”。</blockquote></p><p> He said nearly 400 companies have filed for traditional IPOs so far this year, “rapidly approaching the number of companies that filed for public offerings in all of 2016.”</p><p><blockquote>他表示，今年迄今已有近400家公司申请传统IPO，“迅速接近2016年全年申请公开发行的公司数量”。</blockquote></p><p> Gensler told Congress that companies have completed 118 IPOs to date in 2020 vs. 130 for 2016 as a whole. “At the current rate, I expect there will be more traditional IPOs than there were during the dot-com peak of 2000,” he said.</p><p><blockquote>Gensler告诉国会，2020年迄今为止，公司已完成118次IPO，而2016年全年为130次。“按照目前的速度，我预计传统IPO将比2000年互联网高峰时期更多，”他说。</blockquote></p><p> The SEC chief asked for an unspecified funding increase to deal with the new securities.</p><p><blockquote>美国证券交易委员会主席要求增加未具体说明的资金来处理新证券。</blockquote></p><p> “The scope, scale, and complexity of our capital markets have continued to grow,” [but the SEC] is working with fewer staff than five years ago,” Gensler said. “As more Americans are accessing the capital markets, we need to be sure that the commission has the resources to protect them.”</p><p><blockquote>“我们资本市场的范围、规模和复杂性不断增长，”[但美国证券交易委员会]的工作人员比五年前少了，”詹斯勒说。“随着越来越多的美国人进入资本市场，我们需要确保委员会有资源来保护他们。”</blockquote></p><p></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>SEC’s Gensler seeks bigger budget amid SPACs, crypto and ‘once-in-a-generation’ IPO boom<blockquote>SEC的Gensler在SPAC、加密货币和“一代人一次”的IPO热潮中寻求更大的预算</blockquote></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\">\nSEC’s Gensler seeks bigger budget amid SPACs, crypto and ‘once-in-a-generation’ IPO boom<blockquote>SEC的Gensler在SPAC、加密货币和“一代人一次”的IPO热潮中寻求更大的预算</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-05-27 09:54</span>\n</p>\n</h4>\n</header>\n<article>\n<p>New U.S. Securities and Exchange Commission Chairman Gary Gensler asked Congress on Wednesday for increased funding so his agency canhandle the rise of SPACs, cryptocurrencies and today’s “once-in-a-generation” level of traditional IPOs.</p><p><blockquote>美国证券交易委员会新任主席加里·詹斯勒(Gary Gensler)周三要求国会增加资金，以便他的机构能够应对SPAC、加密货币的崛起以及当今“一代人一次”的传统IPO水平。</blockquote></p><p> “The SEC oversees the nearly $100-trillion capital markets, [but] as our capital markets have grown … the SEC has not grown to meet the needs of the 2020s,” Gensler said inprepared remarksto a House Appropriations subcommittee.</p><p><blockquote>Gensler在向众议院拨款小组委员会发表的准备好的讲话中表示：“SEC监管着近100万亿美元的资本市场，但随着我们资本市场的发展……SEC的发展尚未满足2020年代的需求。”</blockquote></p><p> The SEC chief said that even as SPACs, cryptos, IPOs and other financial instruments have expanded, his agency’s headcount has dropped some 4% in four years.</p><p><blockquote>这位SEC负责人表示，尽管SPAC、加密货币、IPO和其他金融工具有所扩张，但他的机构的员工人数在四年内下降了约4%。</blockquote></p><p> Gensler said the SEC’s enforcement division’s staff has decreased by 6%, while its corporate-finance unit has lost 20% of headcount in the past five years.</p><p><blockquote>Gensler表示，SEC执法部门的员工减少了6%，而其企业融资部门在过去五年中减少了20%的员工。</blockquote></p><p> He warned that such staffing has shrunk even as new investment avenues have exploded. For example, Gensler said that 700 special purpose acquisition companies have filed for IPOs so far this year, with some 300 completed to date. That’s up from just 13 completed SPAC initial public offerings for 2016 as a whole.</p><p><blockquote>他警告说，尽管新的投资渠道激增，但此类人员配备却在减少。例如，Gensler表示，今年迄今为止已有700家特殊目的收购公司申请IPO，其中约300家已完成IPO。2016年全年仅完成13起SPAC首次公开募股。</blockquote></p><p> The SEC chief added that the crypto market has grown to $1.6T from just $9B five years ago. And Gensler noted that U.S. markets are “in the midst of a once-in-a-generation wave of traditional initial public offerings.”</p><p><blockquote>SEC负责人补充说，加密货币市场已从五年前的9B美元增长到1.6 T美元。詹斯勒指出，美国市场“正处于一代人一次的传统首次公开募股浪潮中”。</blockquote></p><p> He said nearly 400 companies have filed for traditional IPOs so far this year, “rapidly approaching the number of companies that filed for public offerings in all of 2016.”</p><p><blockquote>他表示，今年迄今已有近400家公司申请传统IPO，“迅速接近2016年全年申请公开发行的公司数量”。</blockquote></p><p> Gensler told Congress that companies have completed 118 IPOs to date in 2020 vs. 130 for 2016 as a whole. “At the current rate, I expect there will be more traditional IPOs than there were during the dot-com peak of 2000,” he said.</p><p><blockquote>Gensler告诉国会，2020年迄今为止，公司已完成118次IPO，而2016年全年为130次。“按照目前的速度，我预计传统IPO将比2000年互联网高峰时期更多，”他说。</blockquote></p><p> The SEC chief asked for an unspecified funding increase to deal with the new securities.</p><p><blockquote>美国证券交易委员会主席要求增加未具体说明的资金来处理新证券。</blockquote></p><p> “The scope, scale, and complexity of our capital markets have continued to grow,” [but the SEC] is working with fewer staff than five years ago,” Gensler said. “As more Americans are accessing the capital markets, we need to be sure that the commission has the resources to protect them.”</p><p><blockquote>“我们资本市场的范围、规模和复杂性不断增长，”[但美国证券交易委员会]的工作人员比五年前少了，”詹斯勒说。“随着越来越多的美国人进入资本市场，我们需要确保委员会有资源来保护他们。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/news/3700594-secs-gensler-seeks-bigger-budget-amid-boom-in-spacs-crypto-and-ipos\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯","SPY":"标普500ETF",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://seekingalpha.com/news/3700594-secs-gensler-seeks-bigger-budget-amid-boom-in-spacs-crypto-and-ipos","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1121375996","content_text":"New U.S. Securities and Exchange Commission Chairman Gary Gensler asked Congress on Wednesday for increased funding so his agency canhandle the rise of SPACs, cryptocurrencies and today’s “once-in-a-generation” level of traditional IPOs.\n“The SEC oversees the nearly $100-trillion capital markets, [but] as our capital markets have grown … the SEC has not grown to meet the needs of the 2020s,” Gensler said inprepared remarksto a House Appropriations subcommittee.\nThe SEC chief said that even as SPACs, cryptos, IPOs and other financial instruments have expanded, his agency’s headcount has dropped some 4% in four years.\nGensler said the SEC’s enforcement division’s staff has decreased by 6%, while its corporate-finance unit has lost 20% of headcount in the past five years.\nHe warned that such staffing has shrunk even as new investment avenues have exploded. For example, Gensler said that 700 special purpose acquisition companies have filed for IPOs so far this year, with some 300 completed to date. That’s up from just 13 completed SPAC initial public offerings for 2016 as a whole.\nThe SEC chief added that the crypto market has grown to $1.6T from just $9B five years ago. And Gensler noted that U.S. markets are “in the midst of a once-in-a-generation wave of traditional initial public offerings.”\nHe said nearly 400 companies have filed for traditional IPOs so far this year, “rapidly approaching the number of companies that filed for public offerings in all of 2016.”\nGensler told Congress that companies have completed 118 IPOs to date in 2020 vs. 130 for 2016 as a whole. “At the current rate, I expect there will be more traditional IPOs than there were during the dot-com peak of 2000,” he said.\nThe SEC chief asked for an unspecified funding increase to deal with the new securities.\n“The scope, scale, and complexity of our capital markets have continued to grow,” [but the SEC] is working with fewer staff than five years ago,” Gensler said. “As more Americans are accessing the capital markets, we need to be sure that the commission has the resources to protect them.”","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":1695,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137475713,"gmtCreate":1622384685132,"gmtModify":1631890383381,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"Will plunge on Monday","listText":"Will plunge on Monday","text":"Will plunge on Monday","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/137475713","repostId":"2138765488","repostType":4,"isVote":1,"tweetType":1,"viewCount":2847,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137475223,"gmtCreate":1622384612462,"gmtModify":1631890383383,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"Travel will not do well","listText":"Travel will not do well","text":"Travel will not do well","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/137475223","repostId":"2138948877","repostType":4,"isVote":1,"tweetType":1,"viewCount":1714,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":377682279,"gmtCreate":1619523630791,"gmtModify":1631890383387,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"Tonight Nasdaq will trend[微笑]&nbsp;","listText":"Tonight Nasdaq will trend[微笑]&nbsp;","text":"Tonight Nasdaq will trend[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/377682279","isVote":1,"tweetType":1,"viewCount":3390,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":377686305,"gmtCreate":1619523522207,"gmtModify":1631890383388,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"Diamond hands","listText":"Diamond hands","text":"Diamond hands","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/377686305","repostId":"1155157199","repostType":4,"repost":{"id":"1155157199","kind":"news","pubTimestamp":1619494851,"share":"https://www.laohu8.com/m/news/1155157199?lang=zh_CN&edition=full","pubTime":"2021-04-27 11:40","market":"us","language":"en","title":"Microsoft Nears $2 Trillion Market Cap. Earnings Are Tuesday.<blockquote>微软市值接近2万亿美元。收益将于周二公布。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1155157199","media":"Barrons","summary":"Wall Street is expecting Microsoft to report strong financial results when the company posts its March quarter numbers after the close of trading on Tuesday.The consensus forecast among analysts is for revenue of $41 billion, up 17% from a year ago, with profits of $1.78 a share.  On Monday, Microsoft stock set an intraday record of $262.44, leaving the stock just a modest rally away from hitting a $2 trillion valuation for the first time. To get there, the stock needs to rise to $264.55.J.P. Mo","content":"<p>Wall Street is expecting Microsoft to report strong financial results when the company posts its March quarter numbers after the close of trading on Tuesday.</p><p><blockquote>华尔街预计微软将在周二收盘后公布三月份季度数据时公布强劲的财务业绩。</blockquote></p><p>The consensus forecast among analysts is for revenue of $41 billion, up 17% from a year ago, with profits of $1.78 a share.&nbsp; On Monday, Microsoft stock set an intraday record of $262.44, leaving the stock just a modest rally away from hitting a $2 trillion valuation for the first time. To get there, the stock needs to rise to $264.55.</p><p><blockquote>分析师普遍预测营收为410亿美元，同比增长17%，每股利润为1.78美元。周一，微软股价创下262.44美元的盘中纪录，距离首次触及2万亿美元估值仅小幅上涨。要实现这一目标，该股需要上涨至264.55美元。</blockquote></p><p>The shares have gained 18% year to date.</p><p><blockquote>今年迄今为止，该股已上涨18%。</blockquote></p><p>Analysts expect another strong quarter from the company’s Azure and Office 365 cloud businesses, and will be looking for signs of accelerating growth in its enterprise operation. Sales of Surface hardware—laptops and whiteboards—were likely strong in the quarter, given the huge recent growth in PC purchases, although there is some potential that shortages of components resulted in unfilled demand. Strength in the PC market also bodes well for sales of the Windows operating system.&nbsp;</p><p><blockquote>分析师预计该公司的Azure和Office 365云业务将迎来另一个强劲的季度，并将寻找其企业运营加速增长的迹象。鉴于近期PC购买量大幅增长，Surface硬件（笔记本电脑和白板）的销售可能在本季度强劲，尽管组件短缺可能导致需求未得到满足。个人电脑市场的强劲也预示着Windows操作系统的销售。</blockquote></p><p>Microsoft breaks down its results into&nbsp;three segments: Productivity and Business Processes, which includes Office 365, Dynamics, and LinkedIn; Intelligence Cloud, which includes Azure and enterprise server software; and More Personal Computing, which includes Windows, Xbox, Surface hardware, and Bing.</p><p><blockquote>微软将其业绩分为三个部分：生产力和业务流程，其中包括Office 365、Dynamics和LinkedIn；智能云，包括Azure和企业服务器软件；以及更多的个人计算，包括Windows、Xbox、Surface硬件和Bing。</blockquote></p><p>When Microsoft reported its results for its fiscal second quarter in late January,CFO Amy Hood provided revenue guidance for each segment. For Productivity and Business Processes, she projected revenue of $13.35 billion to $13.6 billion. The call for Intelligent Cloud was for revenue of $14.7 billion to $14.95 billion, while she predicted $12.3 billion to $12.7 billion for More Personal Computing. If revenue for each segment came in at the top of its forecast range, the total would be $41.25 billion.</p><p><blockquote>当微软在1月底公布第二财季业绩时，首席财务官Amy Hood提供了每个部门的收入指引。对于生产力和业务流程，她预计收入为133.5亿至136亿美元。智能云的看涨期权是收入为147亿至149.5亿美元，而她预测更多个人计算的收入为123亿至127亿美元。如果每个部门的收入都处于预测范围的顶部，那么总收入将达到412.5亿美元。</blockquote></p><p>In research notes, several analysts cited positive comments from customers and resellers in projecting strong results.</p><p><blockquote>在研究报告中，几位分析师引用了客户和经销商的积极评论来预测强劲的业绩。</blockquote></p><p>Last week, KeyBanc Capital’s Michael Turits repeated his Overweight rating on the stock while lifting his target for the price to $295, from $280. He says the company is likely benefiting from a combination of strong IT demand and continuing strength in PC shipments.</p><p><blockquote>上周，KeyBanc Capital的Michael Turits重申了对该股的跑赢大盘评级，同时将目标价从280美元上调至295美元。他表示，该公司可能会受益于强劲的IT需求和个人电脑出货量的持续强劲。</blockquote></p><p>“We continue to see Microsoft’s combination of expanding Azure scope, broad enterprise application innovation, and aggressive bundling seeing success in the market,” he wrote. “Nearly all North American Microsoft distributors/resellers we spoke with reported Microsoft channel revenue on or above plan.”</p><p><blockquote>他写道：“我们继续看到微软不断扩大的Azure范围、广泛的企业应用程序创新和积极的捆绑在市场上取得了成功。”“我们采访的几乎所有北美微软分销商/经销商都报告微软渠道收入达到或高于计划。”</blockquote></p><p>J.P. Morgan analyst Mark Murphy came away from his own new survey of resellers of Microsoft products encouraged about the outlook. He says those companies’ quarterly sales of Microsoft goods came in an average of 3.3% above their expectations, driven by improving enterprise demand. He reported strength across the company’s enterprise product lines, with growth in Azure, Teams, Office 365, and security products, among other places. Murphy rates Microsoft at Overweight and has a target of $245 for the stock price.</p><p><blockquote>摩根大通分析师Mark Murphy对微软产品经销商进行了新的调查，对前景感到鼓舞。他表示，在企业需求改善的推动下，这些公司的微软商品季度销售额平均比预期高出3.3%。他报告了公司企业产品线的实力，包括Azure、Teams、Office 365和安全产品等领域的增长。Murphy对微软的评级为跑赢大盘，目标股价为245美元。</blockquote></p><p>Wedbush analyst Dan Ives&nbsp;forecast “another masterpiece quarter,” driven by growth of at least 45% from Azure, which he thinks is taking market share from Amazon Web Services. He said the current work-from-home environment is encouraging more businesses to make strategic moves toward cloud-based operations “with Microsoft across the board with Azure growth remaining brisk.” He maintained an Outperform rating, with a target of $300 for the share price.</p><p><blockquote>Wedbush分析师丹·艾夫斯(Dan Ives)预测，在Azure至少增长45%的推动下，这将是“又一个杰作季度”，他认为Azure正在从亚马逊网络服务(Amazon Web Services)手中夺取市场份额。他表示，当前的在家工作环境正在鼓励更多企业采取战略举措，转向基于云的运营，“微软全面展开，Azure增长依然强劲”。他维持跑赢大盘评级，目标股价为300美元。</blockquote></p><p>Citi analyst Tyler Radke&nbsp;last week reiterated a Buy rating on Microsoft shares, lifting his price target to $302, from $292, and setting a “positive catalyst watch” on the stock ahead of the results. He wrote that a combination of a survey of resellers and channel checks made him more confident that Microsoft can propel revenue across all three primary business segments, with strength in personal computer demand from both consumers and businesses, robust upgrade activity on server software, and continued strength in Azure as a result of “continued strong enterprise consumption growth.”&nbsp;</p><p><blockquote>花旗分析师泰勒·拉德克(Tyler Radke)上周重申了对微软股票的买入评级，将目标价从292美元上调至302美元，并在业绩公布前对该股设定了“积极催化剂观察”。他写道，对经销商的调查和渠道检查的结合使他更有信心，微软可以推动所有三个主要业务部门的收入，消费者和企业对个人电脑的需求强劲，服务器软件的强劲升级活动，以及由于“企业消费持续强劲增长”，Azure持续走强。</blockquote></p><p></p>","source":"lsy1601382232898","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>Microsoft Nears $2 Trillion Market Cap. Earnings Are Tuesday.<blockquote>微软市值接近2万亿美元。收益将于周二公布。</blockquote></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\">\nMicrosoft Nears $2 Trillion Market Cap. Earnings Are Tuesday.<blockquote>微软市值接近2万亿美元。收益将于周二公布。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-04-27 11:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Wall Street is expecting Microsoft to report strong financial results when the company posts its March quarter numbers after the close of trading on Tuesday.</p><p><blockquote>华尔街预计微软将在周二收盘后公布三月份季度数据时公布强劲的财务业绩。</blockquote></p><p>The consensus forecast among analysts is for revenue of $41 billion, up 17% from a year ago, with profits of $1.78 a share.&nbsp; On Monday, Microsoft stock set an intraday record of $262.44, leaving the stock just a modest rally away from hitting a $2 trillion valuation for the first time. To get there, the stock needs to rise to $264.55.</p><p><blockquote>分析师普遍预测营收为410亿美元，同比增长17%，每股利润为1.78美元。周一，微软股价创下262.44美元的盘中纪录，距离首次触及2万亿美元估值仅小幅上涨。要实现这一目标，该股需要上涨至264.55美元。</blockquote></p><p>The shares have gained 18% year to date.</p><p><blockquote>今年迄今为止，该股已上涨18%。</blockquote></p><p>Analysts expect another strong quarter from the company’s Azure and Office 365 cloud businesses, and will be looking for signs of accelerating growth in its enterprise operation. Sales of Surface hardware—laptops and whiteboards—were likely strong in the quarter, given the huge recent growth in PC purchases, although there is some potential that shortages of components resulted in unfilled demand. Strength in the PC market also bodes well for sales of the Windows operating system.&nbsp;</p><p><blockquote>分析师预计该公司的Azure和Office 365云业务将迎来另一个强劲的季度，并将寻找其企业运营加速增长的迹象。鉴于近期PC购买量大幅增长，Surface硬件（笔记本电脑和白板）的销售可能在本季度强劲，尽管组件短缺可能导致需求未得到满足。个人电脑市场的强劲也预示着Windows操作系统的销售。</blockquote></p><p>Microsoft breaks down its results into&nbsp;three segments: Productivity and Business Processes, which includes Office 365, Dynamics, and LinkedIn; Intelligence Cloud, which includes Azure and enterprise server software; and More Personal Computing, which includes Windows, Xbox, Surface hardware, and Bing.</p><p><blockquote>微软将其业绩分为三个部分：生产力和业务流程，其中包括Office 365、Dynamics和LinkedIn；智能云，包括Azure和企业服务器软件；以及更多的个人计算，包括Windows、Xbox、Surface硬件和Bing。</blockquote></p><p>When Microsoft reported its results for its fiscal second quarter in late January,CFO Amy Hood provided revenue guidance for each segment. For Productivity and Business Processes, she projected revenue of $13.35 billion to $13.6 billion. The call for Intelligent Cloud was for revenue of $14.7 billion to $14.95 billion, while she predicted $12.3 billion to $12.7 billion for More Personal Computing. If revenue for each segment came in at the top of its forecast range, the total would be $41.25 billion.</p><p><blockquote>当微软在1月底公布第二财季业绩时，首席财务官Amy Hood提供了每个部门的收入指引。对于生产力和业务流程，她预计收入为133.5亿至136亿美元。智能云的看涨期权是收入为147亿至149.5亿美元，而她预测更多个人计算的收入为123亿至127亿美元。如果每个部门的收入都处于预测范围的顶部，那么总收入将达到412.5亿美元。</blockquote></p><p>In research notes, several analysts cited positive comments from customers and resellers in projecting strong results.</p><p><blockquote>在研究报告中，几位分析师引用了客户和经销商的积极评论来预测强劲的业绩。</blockquote></p><p>Last week, KeyBanc Capital’s Michael Turits repeated his Overweight rating on the stock while lifting his target for the price to $295, from $280. He says the company is likely benefiting from a combination of strong IT demand and continuing strength in PC shipments.</p><p><blockquote>上周，KeyBanc Capital的Michael Turits重申了对该股的跑赢大盘评级，同时将目标价从280美元上调至295美元。他表示，该公司可能会受益于强劲的IT需求和个人电脑出货量的持续强劲。</blockquote></p><p>“We continue to see Microsoft’s combination of expanding Azure scope, broad enterprise application innovation, and aggressive bundling seeing success in the market,” he wrote. “Nearly all North American Microsoft distributors/resellers we spoke with reported Microsoft channel revenue on or above plan.”</p><p><blockquote>他写道：“我们继续看到微软不断扩大的Azure范围、广泛的企业应用程序创新和积极的捆绑在市场上取得了成功。”“我们采访的几乎所有北美微软分销商/经销商都报告微软渠道收入达到或高于计划。”</blockquote></p><p>J.P. Morgan analyst Mark Murphy came away from his own new survey of resellers of Microsoft products encouraged about the outlook. He says those companies’ quarterly sales of Microsoft goods came in an average of 3.3% above their expectations, driven by improving enterprise demand. He reported strength across the company’s enterprise product lines, with growth in Azure, Teams, Office 365, and security products, among other places. Murphy rates Microsoft at Overweight and has a target of $245 for the stock price.</p><p><blockquote>摩根大通分析师Mark Murphy对微软产品经销商进行了新的调查，对前景感到鼓舞。他表示，在企业需求改善的推动下，这些公司的微软商品季度销售额平均比预期高出3.3%。他报告了公司企业产品线的实力，包括Azure、Teams、Office 365和安全产品等领域的增长。Murphy对微软的评级为跑赢大盘，目标股价为245美元。</blockquote></p><p>Wedbush analyst Dan Ives&nbsp;forecast “another masterpiece quarter,” driven by growth of at least 45% from Azure, which he thinks is taking market share from Amazon Web Services. He said the current work-from-home environment is encouraging more businesses to make strategic moves toward cloud-based operations “with Microsoft across the board with Azure growth remaining brisk.” He maintained an Outperform rating, with a target of $300 for the share price.</p><p><blockquote>Wedbush分析师丹·艾夫斯(Dan Ives)预测，在Azure至少增长45%的推动下，这将是“又一个杰作季度”，他认为Azure正在从亚马逊网络服务(Amazon Web Services)手中夺取市场份额。他表示，当前的在家工作环境正在鼓励更多企业采取战略举措，转向基于云的运营，“微软全面展开，Azure增长依然强劲”。他维持跑赢大盘评级，目标股价为300美元。</blockquote></p><p>Citi analyst Tyler Radke&nbsp;last week reiterated a Buy rating on Microsoft shares, lifting his price target to $302, from $292, and setting a “positive catalyst watch” on the stock ahead of the results. He wrote that a combination of a survey of resellers and channel checks made him more confident that Microsoft can propel revenue across all three primary business segments, with strength in personal computer demand from both consumers and businesses, robust upgrade activity on server software, and continued strength in Azure as a result of “continued strong enterprise consumption growth.”&nbsp;</p><p><blockquote>花旗分析师泰勒·拉德克(Tyler Radke)上周重申了对微软股票的买入评级，将目标价从292美元上调至302美元，并在业绩公布前对该股设定了“积极催化剂观察”。他写道，对经销商的调查和渠道检查的结合使他更有信心，微软可以推动所有三个主要业务部门的收入，消费者和企业对个人电脑的需求强劲，服务器软件的强劲升级活动，以及由于“企业消费持续强劲增长”，Azure持续走强。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/microsoft-nears-2-trillion-market-cap-earnings-are-tuesday-51619457928?mod=hp_DAY_Theme_2_1\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MSFT":"微软"},"source_url":"https://www.barrons.com/articles/microsoft-nears-2-trillion-market-cap-earnings-are-tuesday-51619457928?mod=hp_DAY_Theme_2_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155157199","content_text":"Wall Street is expecting Microsoft to report strong financial results when the company posts its March quarter numbers after the close of trading on Tuesday.The consensus forecast among analysts is for revenue of $41 billion, up 17% from a year ago, with profits of $1.78 a share.  On Monday, Microsoft stock set an intraday record of $262.44, leaving the stock just a modest rally away from hitting a $2 trillion valuation for the first time. To get there, the stock needs to rise to $264.55.The shares have gained 18% year to date.Analysts expect another strong quarter from the company’s Azure and Office 365 cloud businesses, and will be looking for signs of accelerating growth in its enterprise operation. Sales of Surface hardware—laptops and whiteboards—were likely strong in the quarter, given the huge recent growth in PC purchases, although there is some potential that shortages of components resulted in unfilled demand. Strength in the PC market also bodes well for sales of the Windows operating system. Microsoft breaks down its results into three segments: Productivity and Business Processes, which includes Office 365, Dynamics, and LinkedIn; Intelligence Cloud, which includes Azure and enterprise server software; and More Personal Computing, which includes Windows, Xbox, Surface hardware, and Bing.When Microsoft reported its results for its fiscal second quarter in late January,CFO Amy Hood provided revenue guidance for each segment. For Productivity and Business Processes, she projected revenue of $13.35 billion to $13.6 billion. The call for Intelligent Cloud was for revenue of $14.7 billion to $14.95 billion, while she predicted $12.3 billion to $12.7 billion for More Personal Computing. If revenue for each segment came in at the top of its forecast range, the total would be $41.25 billion.In research notes, several analysts cited positive comments from customers and resellers in projecting strong results.Last week, KeyBanc Capital’s Michael Turits repeated his Overweight rating on the stock while lifting his target for the price to $295, from $280. He says the company is likely benefiting from a combination of strong IT demand and continuing strength in PC shipments.“We continue to see Microsoft’s combination of expanding Azure scope, broad enterprise application innovation, and aggressive bundling seeing success in the market,” he wrote. “Nearly all North American Microsoft distributors/resellers we spoke with reported Microsoft channel revenue on or above plan.”J.P. Morgan analyst Mark Murphy came away from his own new survey of resellers of Microsoft products encouraged about the outlook. He says those companies’ quarterly sales of Microsoft goods came in an average of 3.3% above their expectations, driven by improving enterprise demand. He reported strength across the company’s enterprise product lines, with growth in Azure, Teams, Office 365, and security products, among other places. Murphy rates Microsoft at Overweight and has a target of $245 for the stock price.Wedbush analyst Dan Ives forecast “another masterpiece quarter,” driven by growth of at least 45% from Azure, which he thinks is taking market share from Amazon Web Services. He said the current work-from-home environment is encouraging more businesses to make strategic moves toward cloud-based operations “with Microsoft across the board with Azure growth remaining brisk.” He maintained an Outperform rating, with a target of $300 for the share price.Citi analyst Tyler Radke last week reiterated a Buy rating on Microsoft shares, lifting his price target to $302, from $292, and setting a “positive catalyst watch” on the stock ahead of the results. He wrote that a combination of a survey of resellers and channel checks made him more confident that Microsoft can propel revenue across all three primary business segments, with strength in personal computer demand from both consumers and businesses, robust upgrade activity on server software, and continued strength in Azure as a result of “continued strong enterprise consumption growth.”","news_type":1,"symbols_score_info":{"MSFT":0.9}},"isVote":1,"tweetType":1,"viewCount":1167,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":356373291,"gmtCreate":1616760586713,"gmtModify":1631890383396,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"Good trading bro//<a href=\"https://laohu8.com/U/3554375720188871\">@Hengah</a>: Comment leh","listText":"Good trading bro//<a href=\"https://laohu8.com/U/3554375720188871\">@Hengah</a>: Comment leh","text":"Good trading bro//@Hengah: Comment leh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/356373291","repostId":"2122473630","repostType":4,"repost":{"id":"2122473630","kind":"highlight","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1616751900,"share":"https://www.laohu8.com/m/news/2122473630?lang=zh_CN&edition=full","pubTime":"2021-03-26 17:45","market":"us","language":"en","title":"RLX Technology's quarterly revenue jumps 44.5% QoQ<blockquote>RLX科技季度收入环比增长44.5%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2122473630","media":"Tiger Newspress","summary":"BEIJING, March 26, 2021 /PRNewswire/ -- RLX Technology Inc. (\"RLX Technology\" or the \"Company\") (NYS","content":"<p>BEIJING, March&nbsp;26, 2021 /PRNewswire/ -- RLX Technology Inc. (\"RLX Technology\" or the \"Company\") (NYSE: RLX), a leading branded e-vapor company inChina, today announced its unaudited financial results for the fourth quarter and the fiscal year endedDecember 31, 2020.</p><p><blockquote>北京2021年3月26日电/美通社/--中国领先的品牌电子烟公司RLX科技公司（“RLX科技”或“公司”）（纽约证券交易所代码：RLX）今天公布了第四季度未经审计的财务业绩截至2020年12月31日的季度和财年。</blockquote></p><p><img src=\"https://static.tigerbbs.com/cd48712f2965372dd71b1af347f0ab9c\" tg-width=\"828\" tg-height=\"762\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b><u>Fourth Quarter 2020 Financial Highlights</u></b></p><p><blockquote><b><u>2020年第四季度财务摘要</u></b></blockquote></p><p><ul><li><b>Net revenues</b>wereRMB1,618.5 million(US$248.0 million), representing an increase of 44.5% fromRMB1,120.2 millionin the third quarter of 2020.</li><li><b>Gross margin</b>was 42.9%, compared to 39.1% in the third quarter of 2020.</li><li><b>Net loss</b>wasRMB236.7 million(US$36.3 million), compared with net income ofRMB7.8 millionin the third quarter of 2020.</li><li><b>Non-GAAP net income[1]</b>wasRMB419.3 million(US$64.3 million).</li></ul><table><tbody><tr><td>[1]Non-GAAP net (loss)/income is a non-GAAP financial measure. For more information on the Company's non-GAAP financial measures, please see the section \"Non-GAAP Financial Measures\" and the table captioned \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" set forth at the end of this press release.</p><p><blockquote><ul><li><b>净收入</b>为16.185亿元人民币（2.480亿美元），较2020年第三季度的11.202亿元人民币增长44.5%。</li><li><b>毛利率</b>为42.9%，而2020年第三季度为39.1%。</li><li><b>净亏损</b>为人民币2.367亿元（3630万美元），而2020年第三季度净利润为人民币780万元。</li><li><b>非公认会计准则净利润[1]</b>为人民币4.193亿元（6430万美元）。</li></ul><table><tbody><tr><td>[1]非公认会计准则净（损失）/收入是一项非公认会计准则财务指标。有关公司非GAAP财务指标的更多信息，请参阅本新闻稿末尾的“非GAAP财务指标”部分和标题为“未经审计的GAAP和非GAAP业绩调节表”的表格。</td></tr></tbody></table></blockquote></p><p></td></tr></tbody></table><b><u>Fiscal Year 2020 Financial Highlights</u></b></p><p><blockquote><b><u>2020财年财务摘要</u></b></blockquote></p><p><ul><li><b>Net revenues</b>wereRMB3,819.7 million(US$585.4 million) in fiscal year 2020, representing an increase of 146.5% fromRMB1,549.4 millionin the prior year.</li><li><b>Gross margin</b>was 40.0% in fiscal year 2020, compared to 37.5% in the prior year.</li><li><b>Net loss</b>wasRMB128.1 million(US$19.6 million) in fiscal year 2020, compared with net income ofRMB47.7 millionin the prior year.</li><li><b>Non-GAAP net income</b>wasRMB801.0 million(US$122.8 million).</li></ul>\"We are pleased to report financial and operational results for the fourth quarter of 2020. Throughout 2020, despite challenges stemming from COVID-19, our business remained resilient, and our management team maintained our focus on building and strengthening RELX as a trusted brand for adult smokers,\" said Ms.Ying (Kate) Wang, Co-founder, Chairperson of the Board of Directors and Chief Executive Officer of RLX Technology. \"We continue to consistently uphold and practice our ethical principles, including facilitating the prevention of underage use of our products through our industry pioneering<i>Guardian Program,</i>introducing effective age-verification practices to the industry. This fourth quarter also witnessed the first anniversary of the launch of our<i>Sunflower System</i>, our&nbsp;technology-driven underage-access-prevention system. In addition, we continued to advance our<i>Golden Shield Program</i>in cooperation with the public, media and local authorities to combat sales of counterfeit products.\"</p><p><blockquote><ul><li><b>净收入</b>2020财年为人民币38.197亿元（5.854亿美元），较上年的人民币15.494亿元增长146.5%。</li><li><b>毛利率</b>2020财年为40.0%，而上年为37.5%。</li><li><b>净亏损</b>2020财年净利润为人民币1.281亿元（1960万美元），而上一年净利润为人民币4770万元。</li><li><b>非公认会计准则净利润</b>为人民币8.01亿元（1.228亿美元）。</li></ul>“我们很高兴报告2020年第四季度的财务和运营业绩。在整个2020年，尽管面临COVID-19带来的挑战，我们的业务仍然保持弹性，我们的管理团队仍然专注于建立和加强悦刻作为值得信赖的品牌对于成年吸烟者来说，”RLX科技联合创始人、董事会主席兼首席执行官王英女士表示。“我们将继续坚持和实践我们的道德原则，包括通过我们的行业先锋促进防止未成年人使用我们的产品。”<i>守护者计划，</i>向行业介绍有效的年龄验证实践。第四季度亦见证了我们推出一周年<i>向日葵系统</i>，我们的技术驱动的未成年人访问预防系统。此外，我们持续推进<i>金盾计划</i>与公众、媒体和地方当局合作，打击假冒产品的销售。”</blockquote></p><p>\"Looking forward, we plan to further solidify our leadership as we endeavor to continue investment&nbsp;in scientific research, enhance our technology and product development, strengthen our distribution and retail network, bolster supply chain and production capabilities, and extend our global capabilities. These strategic initiatives are designed to support our growth over the long-term,\" Ms. Wang concluded.</p><p><blockquote>“展望未来，我们计划进一步巩固我们的领导地位，努力继续投资于科学研究，增强我们的技术和产品开发，加强我们的分销和零售网络，增强我们的供应链和生产能力，并扩展我们的全球能力。这些战略举措旨在支持我们的长期增长，”王女士总结道。</blockquote></p><p><b><u>Closing of Initial Public Offering (\"IPO\")</u></b></p><p><blockquote><b><u>首次公开发售（“首次公开发售”）结束</u></b></blockquote></p><p>OnJanuary 26, 2021, the Company completed the closing of its initial public offering of 133,975,000 American depositary shares (\"ADSs\"), each representing one Class A ordinary share. The number of ADSs issued at closing included 17,475,000 ADSs issued pursuant to the exercise in full of over-allotment option by the underwriters. At a price to the public ofUS$12.00per ADS, the total offering size wasUS$1,607.7 million.</p><p><blockquote>2021年1月26日，公司完成了133,975,000股美国存托股份（“ADS”）的首次公开发行，每股代表一股A类普通股。于交割时已发行的美国存讬股数目包括根据包销商悉数行使超额配股权而发行的17,475,000股美国存讬股。以每股美国存托凭证12.00美元的公开发行价格计算，总发行规模为16.077亿美元。</blockquote></p><p><b><u>Fourth Quarter 2020 Unaudited Financial Results</u></b></p><p><blockquote><b><u>2020年第四季度未经审计的财务业绩</u></b></blockquote></p><p><b>Net revenues</b>&nbsp;increased by 44.5% toRMB1,618.5 million(US$248.0 million) in the fourth quarter of 2020 fromRMB1,120.2 millionin the third quarter of 2020. The increase was primarily due to an increase in net revenues from sales to offline distributors, which was mainly attributable to the expansion of the Company's distribution and retail network.</p><p><blockquote><b>净收入</b>从2020年第三季度的人民币11.202亿元增长44.5%至2020年第四季度的人民币16.185亿元（2.480亿美元）。该增加主要是由于向线下分销商销售的净收入增加，这主要归因于公司分销和零售网络的扩张。</blockquote></p><p><b>Gross profit</b>&nbsp;increased by 58.6% to&nbsp;RMB694.1 million (US$106.4 million) in the fourth quarter of 2020 fromRMB437.5 millionin the third quarter of 2020.</p><p><blockquote><b>毛利</b>从2020年第三季度的人民币4.375亿元增长58.6%至2020年第四季度的人民币6.941亿元（1.064亿美元）。</blockquote></p><p><b>Gross margin</b>&nbsp;increased to 42.9% in the fourth quarter of 2020, compared to 39.1% in the third quarter of 2020.</p><p><blockquote><b>毛利率</b>2020年第四季度增至42.9%，而2020年第三季度为39.1%。</blockquote></p><p><b>Operating expenses</b>&nbsp;wereRMB852.6 million(US$130.7 million) in the fourth quarter of 2020, representing an increase of 124.4% fromRMB380.0&nbsp;million in the third quarter of 2020.</p><p><blockquote><b>营业费用</b>2020年第四季度为8.526亿元人民币（1.307亿美元），较2020年第三季度的3.80亿元人民币增长124.4%。</blockquote></p><p><i>Selling expenses</i>increased by 127.0% to&nbsp;RMB196.7 million (US$30.1 million) in the fourth quarter of 2020 fromRMB86.7 millionin the third quarter of 2020. The increase was mainly driven by (i) an increase in share-based compensation expenses, and (ii) an increase in branding material expenses.</p><p><blockquote><i>销售费用</i>2020年第四季度的人民币1.967亿元，较2020年第三季度的人民币8,670万元增长127.0%至人民币1.967亿元（3,010万美元）。该增加主要由于(i)以股份为基础的薪酬开支增加及(ii)品牌材料开支增加所致。</blockquote></p><p></p><p><i>General and administrative expenses</i>&nbsp;increased by 75.4% toRMB447.0 million(US$68.5 million) in the fourth quarter of 2020 fromRMB254.8 millionin the third quarter of 2020. The increase wasprimarilydue to (i) an increase in share-based compensation expenses, and (ii) an increase in professional service fees.</p><p><blockquote><i>一般及行政开支</i>从2020年第三季度的人民币2.548亿元增长75.4%至2020年第四季度的人民币4.470亿元（6850万美元）。增加的主要原因是（i）以股份为基础的薪酬开支增加，及（ii）专业服务费增加。</blockquote></p><p><i>Research and development expenses</i>increased by 441.9% to&nbsp;RMB208.9 million (US$32.0 million) in the fourth quarter of 2020 fromRMB38.5 millionin the third quarter of 2020. The increase wasprimarilydriven by (i) an increase in share-based compensation expenses, and (ii) an increase in software and technical service expenses.</p><p><blockquote><i>研发费用</i>从2020年第三季度的人民币3850万元增长441.9%至2020年第四季度的人民币2.089亿元（3200万美元）。这一增长主要是由于(i)以股份为基础的薪酬费用增加，以及(ii)软件和技术服务费用增加。</blockquote></p><p>Share-based compensation expenses recognized in selling expenses, general and administrative expenses and research and development expenses in total wereRMB656.1&nbsp;million (US$100.6&nbsp;million) in the fourth quarter of 2020 andRMB238.2&nbsp;million in the third quarter of 2020. The increase was primarily due to the increase in fair value of ordinary shares of Relx Inc.</p><p><blockquote>2020年第四季度，在销售费用、一般和管理费用以及研发费用中确认的股权激励费用总计为人民币6.561亿元（1.006亿美元），2020年第三季度为人民币2.382亿元。该增加主要是由于Relx Inc.普通股公允价值增加。</blockquote></p><p><b>Loss from operations</b>&nbsp;wasRMB158.5&nbsp;million (US$24.3&nbsp;million) in the fourth quarter of 2020, compared with income from operations ofRMB57.5 millionin the third quarter of 2020.</p><p><blockquote><b>经营亏损</b>2020年第四季度营业收入为人民币1.585亿元（2430万美元），而2020年第三季度营业收入为人民币5750万元。</blockquote></p><p><b>Income tax expense</b>&nbsp;wasRMB110.6&nbsp;million (US$17.0&nbsp;million) in the fourth quarter of 2020, compared with income tax expense ofRMB77.3 millionin the third quarter of 2020, primarily due to an increase in taxable income.</p><p><blockquote><b>所得税费用</b>2020年第四季度所得税费用为人民币1.106亿元（1700万美元），而2020年第三季度所得税费用为人民币7730万元，主要是由于应税收入增加。</blockquote></p><p><b>Net loss</b>&nbsp;wasRMB236.7&nbsp;million (US$36.3&nbsp;million) in the fourth&nbsp;quarter of 2020, compared with net income ofRMB7.8 millionin the third quarter of 2020.</p><p><blockquote><b>净亏损</b>2020年第四季度净利润为人民币2.367亿元（3630万美元），而2020年第三季度净利润为人民币780万元。</blockquote></p><p><b>Non-GAAP&nbsp;net income</b>wasRMB419.3 million(US$64.3&nbsp;million) in the fourth&nbsp;quarter of 2020.</p><p><blockquote><b>非公认会计准则净利润</b>2020年第四季度为4.193亿元人民币（6430万美元）。</blockquote></p><p><b>Basic and diluted net loss per American depositary share (\"ADS\")</b>&nbsp;were bothRMB0.165(US$0.025)in the fourth quarter of 2020, compared to basic and diluted net income per ADS ofRMB0.005in the third quarter of 2020.</p><p><blockquote><b>每股美国存托股份（“美国存托股份”）基本及摊薄净亏损</b>2020年第四季度每股美国存托凭证的基本和摊薄净利润均为人民币0.165元（0.025美元），而2020年第三季度每股美国存托凭证的基本和摊薄净利润为人民币0.005元。</blockquote></p><p><b>Non-GAAP basic and diluted netincome&nbsp;per ADS[2]</b>were bothRMB0.292(US$0.045)in the fourth quarter of 2020, compared toRMB0.171in the third quarter of 2020.</p><p><blockquote><b>非GAAP每股美国存托凭证基本和摊薄净收入[2]</b>2020年第四季度均为人民币0.292元（0.045美元），而2020年第三季度为人民币0.171元。</blockquote></p><p><table><tbody><tr><td>[2]Non-GAAP basic and diluted net (loss)/income per ADS is a non-GAAP financial measure. For more information on the Company's non-GAAP financial measures, please see the section \"Non-GAAP Financial Measures\" and the table captioned \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" set forth at the end of this press release.</p><p><blockquote><table><tbody><tr><td>[2]非公认会计原则每股美国存托凭证基本和摊薄净（亏损）/收入是一项非公认会计原则财务指标。有关公司非GAAP财务指标的更多信息，请参阅本新闻稿末尾的“非GAAP财务指标”部分和标题为“未经审计的GAAP和非GAAP业绩调节表”的表格。</td></tr></tbody></table></blockquote></p><p></td></tr></tbody></table><b><u>Fiscal Year 2020 Unaudited Financial Results</u></b></p><p><blockquote><b><u>2020财年未经审计的财务业绩</u></b></blockquote></p><p><b>Net revenues</b>&nbsp;increased by 146.5% to&nbsp;RMB3,819.7&nbsp;million (US$585.4 million) in fiscal year 2020 fromRMB1,549.4&nbsp;million in the prior year. The increase was primary due to an increase in net revenues from sales to offline distributors.</p><p><blockquote><b>净收入</b>2020财年的人民币38.197亿元（5.854亿美元）由上年的人民币15.494亿元增长146.5%至人民币38.197亿元（5.854亿美元）。该增长主要是由于向线下分销商销售的净收入增加所致。</blockquote></p><p><b>Gross profit</b>&nbsp;increased by 162.9% to&nbsp;RMB1,527.6 million (US$234.1 million) in fiscal year 2020 fromRMB580.9 millionin the prior year.</p><p><blockquote><b>毛利</b>2020财年的人民币15.276亿元（2.341亿美元）由上年的人民币5.809亿元增长162.9%至人民币15.276亿元（2.341亿美元）。</blockquote></p><p><b>Gross margin</b>&nbsp;was 40.0% in the fiscal year 2020, compared to 37.5% in the prior year.</p><p><blockquote><b>毛利率</b>2020财年为40.0%，而上年为37.5%。</blockquote></p><p><b>Operating expenses</b>&nbsp;wereRMB1,514.4 million(US$232.1 million) in fiscal year 2020, representing an increase of 188.7% fromRMB524.6&nbsp;million in the prior year.</p><p><blockquote><b>营业费用</b>2020财年为15.144亿元人民币（2.321亿美元），较上年的5.246亿元人民币增长188.7%。</blockquote></p><p><i>Selling expenses</i>increased by 23.3% toRMB443.2 million(US$67.9 million) in fiscal year 2020 fromRMB359.4 millionin the prior year. The increase was&nbsp;primarilydue to (i)&nbsp;an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's selling personnel, partially offset by a decrease in e-commerce platform service expenses as the Company closed its stores on e-commerce platforms and ceased collaboration with e-commerce platform distributors in response to theOctober 2019Announcement.</p><p><blockquote><i>销售费用</i>2020财年的收入从上年的3.594亿元人民币增长23.3%至4.432亿元人民币（6790万美元）。这一增长主要是由于（i）以股份为基础的薪酬费用增加，以及（ii）公司销售人员的工资和福利增加，但部分被公司关闭电商平台服务费用减少所抵消。2019年10月的公告，并停止与电商平台分销商的合作。</blockquote></p><p><i>General and administrative expenses</i>&nbsp;increased by 479.5% toRMB772.0 million(US$118.3 million) in fiscal year 2020 fromRMB133.2 millionin the prior year. The increase was&nbsp;primarilyattributable to (i) an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's general and administrative personnel.</p><p><blockquote><i>一般及行政开支</i>2020财年的收入从上年的人民币1.332亿元增长479.5%至人民币7.72亿元（1.183亿美元）。增加的主要原因是（i）以股份为基础的薪酬费用增加，以及（ii）公司一般和行政人员的工资和福利增加。</blockquote></p><p><i>Research and development expenses</i>increased by 837.2% toRMB299.3 million(US$45.9 million) in fiscal year 2020 fromRMB31.9 millionin the prior year. The increase was&nbsp;primarilydue to (i) an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's research and development personnel.</p><p><blockquote><i>研发费用</i>2020财年的收入从上一年的人民币3,190万元增长837.2%至人民币2.993亿元（4,590万美元）。增加的主要原因是（i）以股份为基础的薪酬费用增加，以及（ii）公司研发人员的工资和福利增加。</blockquote></p><p>Share-based compensation expenses recognized in selling expenses, general and administrative expenses and research and development expenses in total wereRMB929.1 million(US$142.4 million) in fiscal year 2020 andRMB52.7 millionin the prior year, primarily due to the increase in fair value of ordinary shares of Relx Inc.</p><p><blockquote>2020财年，销售费用、一般及管理费用以及研发费用中确认的股份补偿费用总额为人民币9.291亿元（1.424亿美元），上一年为人民币5270万元，主要是由于Relx Inc.普通股公允价值增加。</blockquote></p><p></p><p><b>Income from operations</b>decreased by 76.7% toRMB13.1 million(US$2.0 million) in fiscal year 2020 fromRMB56.4 millionin the prior year.</p><p><blockquote><b>营业收入</b>2020财年的收入由上年的人民币5640万元下降76.7%至人民币1310万元（200万美元）。</blockquote></p><p><b>Income tax expense</b>&nbsp;wasRMB230.5&nbsp;million (US$35.3&nbsp;million) in fiscal year 2020, representing an increase of 789.3% fromRMB25.9&nbsp;million in the prior year. The increase was&nbsp;primarilydue to an increase in taxable income.</p><p><blockquote><b>所得税费用</b>2020财年为人民币2.305亿元（3530万美元），较上年的人民币2590万元增长789.3%。增加的主要原因是应纳税收入增加。</blockquote></p><p><b>Net loss</b>&nbsp;wasRMB128.1 million(US$19.6 million) in fiscal year 2020, compared with net income ofRMB47.7 millionin the prior year.</p><p><blockquote><b>净亏损</b>2020财年净利润为人民币1.281亿元（1960万美元），而上一年净利润为人民币4770万元。</blockquote></p><p><b>Non-GAAP net income</b>wasRMB801.0 million(US$122.8 million) in fiscal year 2020.</p><p><blockquote><b>非公认会计准则净利润</b>2020财年为人民币8.01亿元（1.228亿美元）。</blockquote></p><p><b>Basic and diluted net loss per ADS</b>&nbsp;were bothRMB0.089(US$0.014)in fiscal year 2020, compared to basic and diluted net income per ADS ofRMB0.033in the prior year.</p><p><blockquote><b>每股美国存托股基本和摊薄净亏损</b>2020财年每股美国存托凭证基本和摊薄净利润均为人民币0.089元（0.014美元），而上一年每股美国存托凭证基本净利润和摊薄净利润为人民币0.033元。</blockquote></p><p><b>Non-GAAP basic and diluted netincome&nbsp;per ADS</b>were bothRMB0.557(US$0.085)in fiscal year 2020, compared toRMB0.070per ADS in the prior year.</p><p><blockquote><b>非GAAP每股美国存托凭证基本和摊薄净收入</b>2020财年每股美国存托凭证为0.557元人民币（0.085美元），而上一年为每股美国存托凭证0.070元人民币。</blockquote></p><p><b><u>Balance&nbsp;Sheet</u></b></p><p><blockquote><b><u>资产负债表</u></b></blockquote></p><p>As ofDecember 31, 2020, the Company had cash and cash equivalents, restricted cash, short-term bank deposits and short-term investments ofRMB3,421.4&nbsp;million (US$524.4&nbsp;million), compared toRMB811.7 millionas ofDecember 31, 2019.</p><p><blockquote>截至2020年12月31日，公司的现金及现金等价物、限制性现金、短期银行存款和短期投资为人民币34.214亿元（5.244亿美元），而截至2019年12月31日为人民币8.117亿元。</blockquote></p><p><b><u>Business Outlook</u></b></p><p><blockquote><b><u>业务展望</u></b></blockquote></p><p>For the first quarter of 2021, the Company currently expects net revenues to exceedRMB2,300 million, and expects non-GAAP net income to exceedRMB590 million. The Company's expected net income will also include share-based compensation expenses which depend on the Company's share price and are not available without unreasonable efforts. The Company also expects gross margin&nbsp;toremain steady.</p><p><blockquote>对于2021年第一季度，公司目前预计净收入将超过人民币23亿元，预计非公认会计准则净利润将超过人民币5.9亿元。公司的预期净利润还将包括基于股份的薪酬费用，这些费用取决于公司的股价，如果不付出不合理的努力就无法获得。该公司还预计毛利率将保持稳定。</blockquote></p><p>The above outlook is based on the current market conditions, including those related to the COVID-19 pandemic, and reflects the Company's preliminary estimates of market and operating conditions, and users' demand, which are all subject to change. Please refer to \"Safe Harbor Statement\" in this press release for risks associated with forward-looking statements.</p><p><blockquote>上述展望基于当前市场状况，包括与COVID-19大流行相关的市场状况，反映了公司对市场和运营状况以及用户需求的初步估计，这些都可能发生变化。有关与前瞻性陈述相关的风险，请参阅本新闻稿中的“安全港声明”。</blockquote></p><p></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>RLX Technology's quarterly revenue jumps 44.5% QoQ<blockquote>RLX科技季度收入环比增长44.5%</blockquote></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\">\nRLX Technology's quarterly revenue jumps 44.5% QoQ<blockquote>RLX科技季度收入环比增长44.5%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-03-26 17:45</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>BEIJING, March&nbsp;26, 2021 /PRNewswire/ -- RLX Technology Inc. (\"RLX Technology\" or the \"Company\") (NYSE: RLX), a leading branded e-vapor company inChina, today announced its unaudited financial results for the fourth quarter and the fiscal year endedDecember 31, 2020.</p><p><blockquote>北京2021年3月26日电/美通社/--中国领先的品牌电子烟公司RLX科技公司（“RLX科技”或“公司”）（纽约证券交易所代码：RLX）今天公布了第四季度未经审计的财务业绩截至2020年12月31日的季度和财年。</blockquote></p><p><img src=\"https://static.tigerbbs.com/cd48712f2965372dd71b1af347f0ab9c\" tg-width=\"828\" tg-height=\"762\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b><u>Fourth Quarter 2020 Financial Highlights</u></b></p><p><blockquote><b><u>2020年第四季度财务摘要</u></b></blockquote></p><p><ul><li><b>Net revenues</b>wereRMB1,618.5 million(US$248.0 million), representing an increase of 44.5% fromRMB1,120.2 millionin the third quarter of 2020.</li><li><b>Gross margin</b>was 42.9%, compared to 39.1% in the third quarter of 2020.</li><li><b>Net loss</b>wasRMB236.7 million(US$36.3 million), compared with net income ofRMB7.8 millionin the third quarter of 2020.</li><li><b>Non-GAAP net income[1]</b>wasRMB419.3 million(US$64.3 million).</li></ul><table><tbody><tr><td>[1]Non-GAAP net (loss)/income is a non-GAAP financial measure. For more information on the Company's non-GAAP financial measures, please see the section \"Non-GAAP Financial Measures\" and the table captioned \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" set forth at the end of this press release.</p><p><blockquote><ul><li><b>净收入</b>为16.185亿元人民币（2.480亿美元），较2020年第三季度的11.202亿元人民币增长44.5%。</li><li><b>毛利率</b>为42.9%，而2020年第三季度为39.1%。</li><li><b>净亏损</b>为人民币2.367亿元（3630万美元），而2020年第三季度净利润为人民币780万元。</li><li><b>非公认会计准则净利润[1]</b>为人民币4.193亿元（6430万美元）。</li></ul><table><tbody><tr><td>[1]非公认会计准则净（损失）/收入是一项非公认会计准则财务指标。有关公司非GAAP财务指标的更多信息，请参阅本新闻稿末尾的“非GAAP财务指标”部分和标题为“未经审计的GAAP和非GAAP业绩调节表”的表格。</td></tr></tbody></table></blockquote></p><p></td></tr></tbody></table><b><u>Fiscal Year 2020 Financial Highlights</u></b></p><p><blockquote><b><u>2020财年财务摘要</u></b></blockquote></p><p><ul><li><b>Net revenues</b>wereRMB3,819.7 million(US$585.4 million) in fiscal year 2020, representing an increase of 146.5% fromRMB1,549.4 millionin the prior year.</li><li><b>Gross margin</b>was 40.0% in fiscal year 2020, compared to 37.5% in the prior year.</li><li><b>Net loss</b>wasRMB128.1 million(US$19.6 million) in fiscal year 2020, compared with net income ofRMB47.7 millionin the prior year.</li><li><b>Non-GAAP net income</b>wasRMB801.0 million(US$122.8 million).</li></ul>\"We are pleased to report financial and operational results for the fourth quarter of 2020. Throughout 2020, despite challenges stemming from COVID-19, our business remained resilient, and our management team maintained our focus on building and strengthening RELX as a trusted brand for adult smokers,\" said Ms.Ying (Kate) Wang, Co-founder, Chairperson of the Board of Directors and Chief Executive Officer of RLX Technology. \"We continue to consistently uphold and practice our ethical principles, including facilitating the prevention of underage use of our products through our industry pioneering<i>Guardian Program,</i>introducing effective age-verification practices to the industry. This fourth quarter also witnessed the first anniversary of the launch of our<i>Sunflower System</i>, our&nbsp;technology-driven underage-access-prevention system. In addition, we continued to advance our<i>Golden Shield Program</i>in cooperation with the public, media and local authorities to combat sales of counterfeit products.\"</p><p><blockquote><ul><li><b>净收入</b>2020财年为人民币38.197亿元（5.854亿美元），较上年的人民币15.494亿元增长146.5%。</li><li><b>毛利率</b>2020财年为40.0%，而上年为37.5%。</li><li><b>净亏损</b>2020财年净利润为人民币1.281亿元（1960万美元），而上一年净利润为人民币4770万元。</li><li><b>非公认会计准则净利润</b>为人民币8.01亿元（1.228亿美元）。</li></ul>“我们很高兴报告2020年第四季度的财务和运营业绩。在整个2020年，尽管面临COVID-19带来的挑战，我们的业务仍然保持弹性，我们的管理团队仍然专注于建立和加强悦刻作为值得信赖的品牌对于成年吸烟者来说，”RLX科技联合创始人、董事会主席兼首席执行官王英女士表示。“我们将继续坚持和实践我们的道德原则，包括通过我们的行业先锋促进防止未成年人使用我们的产品。”<i>守护者计划，</i>向行业介绍有效的年龄验证实践。第四季度亦见证了我们推出一周年<i>向日葵系统</i>，我们的技术驱动的未成年人访问预防系统。此外，我们持续推进<i>金盾计划</i>与公众、媒体和地方当局合作，打击假冒产品的销售。”</blockquote></p><p>\"Looking forward, we plan to further solidify our leadership as we endeavor to continue investment&nbsp;in scientific research, enhance our technology and product development, strengthen our distribution and retail network, bolster supply chain and production capabilities, and extend our global capabilities. These strategic initiatives are designed to support our growth over the long-term,\" Ms. Wang concluded.</p><p><blockquote>“展望未来，我们计划进一步巩固我们的领导地位，努力继续投资于科学研究，增强我们的技术和产品开发，加强我们的分销和零售网络，增强我们的供应链和生产能力，并扩展我们的全球能力。这些战略举措旨在支持我们的长期增长，”王女士总结道。</blockquote></p><p><b><u>Closing of Initial Public Offering (\"IPO\")</u></b></p><p><blockquote><b><u>首次公开发售（“首次公开发售”）结束</u></b></blockquote></p><p>OnJanuary 26, 2021, the Company completed the closing of its initial public offering of 133,975,000 American depositary shares (\"ADSs\"), each representing one Class A ordinary share. The number of ADSs issued at closing included 17,475,000 ADSs issued pursuant to the exercise in full of over-allotment option by the underwriters. At a price to the public ofUS$12.00per ADS, the total offering size wasUS$1,607.7 million.</p><p><blockquote>2021年1月26日，公司完成了133,975,000股美国存托股份（“ADS”）的首次公开发行，每股代表一股A类普通股。于交割时已发行的美国存讬股数目包括根据包销商悉数行使超额配股权而发行的17,475,000股美国存讬股。以每股美国存托凭证12.00美元的公开发行价格计算，总发行规模为16.077亿美元。</blockquote></p><p><b><u>Fourth Quarter 2020 Unaudited Financial Results</u></b></p><p><blockquote><b><u>2020年第四季度未经审计的财务业绩</u></b></blockquote></p><p><b>Net revenues</b>&nbsp;increased by 44.5% toRMB1,618.5 million(US$248.0 million) in the fourth quarter of 2020 fromRMB1,120.2 millionin the third quarter of 2020. The increase was primarily due to an increase in net revenues from sales to offline distributors, which was mainly attributable to the expansion of the Company's distribution and retail network.</p><p><blockquote><b>净收入</b>从2020年第三季度的人民币11.202亿元增长44.5%至2020年第四季度的人民币16.185亿元（2.480亿美元）。该增加主要是由于向线下分销商销售的净收入增加，这主要归因于公司分销和零售网络的扩张。</blockquote></p><p><b>Gross profit</b>&nbsp;increased by 58.6% to&nbsp;RMB694.1 million (US$106.4 million) in the fourth quarter of 2020 fromRMB437.5 millionin the third quarter of 2020.</p><p><blockquote><b>毛利</b>从2020年第三季度的人民币4.375亿元增长58.6%至2020年第四季度的人民币6.941亿元（1.064亿美元）。</blockquote></p><p><b>Gross margin</b>&nbsp;increased to 42.9% in the fourth quarter of 2020, compared to 39.1% in the third quarter of 2020.</p><p><blockquote><b>毛利率</b>2020年第四季度增至42.9%，而2020年第三季度为39.1%。</blockquote></p><p><b>Operating expenses</b>&nbsp;wereRMB852.6 million(US$130.7 million) in the fourth quarter of 2020, representing an increase of 124.4% fromRMB380.0&nbsp;million in the third quarter of 2020.</p><p><blockquote><b>营业费用</b>2020年第四季度为8.526亿元人民币（1.307亿美元），较2020年第三季度的3.80亿元人民币增长124.4%。</blockquote></p><p><i>Selling expenses</i>increased by 127.0% to&nbsp;RMB196.7 million (US$30.1 million) in the fourth quarter of 2020 fromRMB86.7 millionin the third quarter of 2020. The increase was mainly driven by (i) an increase in share-based compensation expenses, and (ii) an increase in branding material expenses.</p><p><blockquote><i>销售费用</i>2020年第四季度的人民币1.967亿元，较2020年第三季度的人民币8,670万元增长127.0%至人民币1.967亿元（3,010万美元）。该增加主要由于(i)以股份为基础的薪酬开支增加及(ii)品牌材料开支增加所致。</blockquote></p><p></p><p><i>General and administrative expenses</i>&nbsp;increased by 75.4% toRMB447.0 million(US$68.5 million) in the fourth quarter of 2020 fromRMB254.8 millionin the third quarter of 2020. The increase wasprimarilydue to (i) an increase in share-based compensation expenses, and (ii) an increase in professional service fees.</p><p><blockquote><i>一般及行政开支</i>从2020年第三季度的人民币2.548亿元增长75.4%至2020年第四季度的人民币4.470亿元（6850万美元）。增加的主要原因是（i）以股份为基础的薪酬开支增加，及（ii）专业服务费增加。</blockquote></p><p><i>Research and development expenses</i>increased by 441.9% to&nbsp;RMB208.9 million (US$32.0 million) in the fourth quarter of 2020 fromRMB38.5 millionin the third quarter of 2020. The increase wasprimarilydriven by (i) an increase in share-based compensation expenses, and (ii) an increase in software and technical service expenses.</p><p><blockquote><i>研发费用</i>从2020年第三季度的人民币3850万元增长441.9%至2020年第四季度的人民币2.089亿元（3200万美元）。这一增长主要是由于(i)以股份为基础的薪酬费用增加，以及(ii)软件和技术服务费用增加。</blockquote></p><p>Share-based compensation expenses recognized in selling expenses, general and administrative expenses and research and development expenses in total wereRMB656.1&nbsp;million (US$100.6&nbsp;million) in the fourth quarter of 2020 andRMB238.2&nbsp;million in the third quarter of 2020. The increase was primarily due to the increase in fair value of ordinary shares of Relx Inc.</p><p><blockquote>2020年第四季度，在销售费用、一般和管理费用以及研发费用中确认的股权激励费用总计为人民币6.561亿元（1.006亿美元），2020年第三季度为人民币2.382亿元。该增加主要是由于Relx Inc.普通股公允价值增加。</blockquote></p><p><b>Loss from operations</b>&nbsp;wasRMB158.5&nbsp;million (US$24.3&nbsp;million) in the fourth quarter of 2020, compared with income from operations ofRMB57.5 millionin the third quarter of 2020.</p><p><blockquote><b>经营亏损</b>2020年第四季度营业收入为人民币1.585亿元（2430万美元），而2020年第三季度营业收入为人民币5750万元。</blockquote></p><p><b>Income tax expense</b>&nbsp;wasRMB110.6&nbsp;million (US$17.0&nbsp;million) in the fourth quarter of 2020, compared with income tax expense ofRMB77.3 millionin the third quarter of 2020, primarily due to an increase in taxable income.</p><p><blockquote><b>所得税费用</b>2020年第四季度所得税费用为人民币1.106亿元（1700万美元），而2020年第三季度所得税费用为人民币7730万元，主要是由于应税收入增加。</blockquote></p><p><b>Net loss</b>&nbsp;wasRMB236.7&nbsp;million (US$36.3&nbsp;million) in the fourth&nbsp;quarter of 2020, compared with net income ofRMB7.8 millionin the third quarter of 2020.</p><p><blockquote><b>净亏损</b>2020年第四季度净利润为人民币2.367亿元（3630万美元），而2020年第三季度净利润为人民币780万元。</blockquote></p><p><b>Non-GAAP&nbsp;net income</b>wasRMB419.3 million(US$64.3&nbsp;million) in the fourth&nbsp;quarter of 2020.</p><p><blockquote><b>非公认会计准则净利润</b>2020年第四季度为4.193亿元人民币（6430万美元）。</blockquote></p><p><b>Basic and diluted net loss per American depositary share (\"ADS\")</b>&nbsp;were bothRMB0.165(US$0.025)in the fourth quarter of 2020, compared to basic and diluted net income per ADS ofRMB0.005in the third quarter of 2020.</p><p><blockquote><b>每股美国存托股份（“美国存托股份”）基本及摊薄净亏损</b>2020年第四季度每股美国存托凭证的基本和摊薄净利润均为人民币0.165元（0.025美元），而2020年第三季度每股美国存托凭证的基本和摊薄净利润为人民币0.005元。</blockquote></p><p><b>Non-GAAP basic and diluted netincome&nbsp;per ADS[2]</b>were bothRMB0.292(US$0.045)in the fourth quarter of 2020, compared toRMB0.171in the third quarter of 2020.</p><p><blockquote><b>非GAAP每股美国存托凭证基本和摊薄净收入[2]</b>2020年第四季度均为人民币0.292元（0.045美元），而2020年第三季度为人民币0.171元。</blockquote></p><p><table><tbody><tr><td>[2]Non-GAAP basic and diluted net (loss)/income per ADS is a non-GAAP financial measure. For more information on the Company's non-GAAP financial measures, please see the section \"Non-GAAP Financial Measures\" and the table captioned \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" set forth at the end of this press release.</p><p><blockquote><table><tbody><tr><td>[2]非公认会计原则每股美国存托凭证基本和摊薄净（亏损）/收入是一项非公认会计原则财务指标。有关公司非GAAP财务指标的更多信息，请参阅本新闻稿末尾的“非GAAP财务指标”部分和标题为“未经审计的GAAP和非GAAP业绩调节表”的表格。</td></tr></tbody></table></blockquote></p><p></td></tr></tbody></table><b><u>Fiscal Year 2020 Unaudited Financial Results</u></b></p><p><blockquote><b><u>2020财年未经审计的财务业绩</u></b></blockquote></p><p><b>Net revenues</b>&nbsp;increased by 146.5% to&nbsp;RMB3,819.7&nbsp;million (US$585.4 million) in fiscal year 2020 fromRMB1,549.4&nbsp;million in the prior year. The increase was primary due to an increase in net revenues from sales to offline distributors.</p><p><blockquote><b>净收入</b>2020财年的人民币38.197亿元（5.854亿美元）由上年的人民币15.494亿元增长146.5%至人民币38.197亿元（5.854亿美元）。该增长主要是由于向线下分销商销售的净收入增加所致。</blockquote></p><p><b>Gross profit</b>&nbsp;increased by 162.9% to&nbsp;RMB1,527.6 million (US$234.1 million) in fiscal year 2020 fromRMB580.9 millionin the prior year.</p><p><blockquote><b>毛利</b>2020财年的人民币15.276亿元（2.341亿美元）由上年的人民币5.809亿元增长162.9%至人民币15.276亿元（2.341亿美元）。</blockquote></p><p><b>Gross margin</b>&nbsp;was 40.0% in the fiscal year 2020, compared to 37.5% in the prior year.</p><p><blockquote><b>毛利率</b>2020财年为40.0%，而上年为37.5%。</blockquote></p><p><b>Operating expenses</b>&nbsp;wereRMB1,514.4 million(US$232.1 million) in fiscal year 2020, representing an increase of 188.7% fromRMB524.6&nbsp;million in the prior year.</p><p><blockquote><b>营业费用</b>2020财年为15.144亿元人民币（2.321亿美元），较上年的5.246亿元人民币增长188.7%。</blockquote></p><p><i>Selling expenses</i>increased by 23.3% toRMB443.2 million(US$67.9 million) in fiscal year 2020 fromRMB359.4 millionin the prior year. The increase was&nbsp;primarilydue to (i)&nbsp;an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's selling personnel, partially offset by a decrease in e-commerce platform service expenses as the Company closed its stores on e-commerce platforms and ceased collaboration with e-commerce platform distributors in response to theOctober 2019Announcement.</p><p><blockquote><i>销售费用</i>2020财年的收入从上年的3.594亿元人民币增长23.3%至4.432亿元人民币（6790万美元）。这一增长主要是由于（i）以股份为基础的薪酬费用增加，以及（ii）公司销售人员的工资和福利增加，但部分被公司关闭电商平台服务费用减少所抵消。2019年10月的公告，并停止与电商平台分销商的合作。</blockquote></p><p><i>General and administrative expenses</i>&nbsp;increased by 479.5% toRMB772.0 million(US$118.3 million) in fiscal year 2020 fromRMB133.2 millionin the prior year. The increase was&nbsp;primarilyattributable to (i) an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's general and administrative personnel.</p><p><blockquote><i>一般及行政开支</i>2020财年的收入从上年的人民币1.332亿元增长479.5%至人民币7.72亿元（1.183亿美元）。增加的主要原因是（i）以股份为基础的薪酬费用增加，以及（ii）公司一般和行政人员的工资和福利增加。</blockquote></p><p><i>Research and development expenses</i>increased by 837.2% toRMB299.3 million(US$45.9 million) in fiscal year 2020 fromRMB31.9 millionin the prior year. The increase was&nbsp;primarilydue to (i) an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's research and development personnel.</p><p><blockquote><i>研发费用</i>2020财年的收入从上一年的人民币3,190万元增长837.2%至人民币2.993亿元（4,590万美元）。增加的主要原因是（i）以股份为基础的薪酬费用增加，以及（ii）公司研发人员的工资和福利增加。</blockquote></p><p>Share-based compensation expenses recognized in selling expenses, general and administrative expenses and research and development expenses in total wereRMB929.1 million(US$142.4 million) in fiscal year 2020 andRMB52.7 millionin the prior year, primarily due to the increase in fair value of ordinary shares of Relx Inc.</p><p><blockquote>2020财年，销售费用、一般及管理费用以及研发费用中确认的股份补偿费用总额为人民币9.291亿元（1.424亿美元），上一年为人民币5270万元，主要是由于Relx Inc.普通股公允价值增加。</blockquote></p><p></p><p><b>Income from operations</b>decreased by 76.7% toRMB13.1 million(US$2.0 million) in fiscal year 2020 fromRMB56.4 millionin the prior year.</p><p><blockquote><b>营业收入</b>2020财年的收入由上年的人民币5640万元下降76.7%至人民币1310万元（200万美元）。</blockquote></p><p><b>Income tax expense</b>&nbsp;wasRMB230.5&nbsp;million (US$35.3&nbsp;million) in fiscal year 2020, representing an increase of 789.3% fromRMB25.9&nbsp;million in the prior year. The increase was&nbsp;primarilydue to an increase in taxable income.</p><p><blockquote><b>所得税费用</b>2020财年为人民币2.305亿元（3530万美元），较上年的人民币2590万元增长789.3%。增加的主要原因是应纳税收入增加。</blockquote></p><p><b>Net loss</b>&nbsp;wasRMB128.1 million(US$19.6 million) in fiscal year 2020, compared with net income ofRMB47.7 millionin the prior year.</p><p><blockquote><b>净亏损</b>2020财年净利润为人民币1.281亿元（1960万美元），而上一年净利润为人民币4770万元。</blockquote></p><p><b>Non-GAAP net income</b>wasRMB801.0 million(US$122.8 million) in fiscal year 2020.</p><p><blockquote><b>非公认会计准则净利润</b>2020财年为人民币8.01亿元（1.228亿美元）。</blockquote></p><p><b>Basic and diluted net loss per ADS</b>&nbsp;were bothRMB0.089(US$0.014)in fiscal year 2020, compared to basic and diluted net income per ADS ofRMB0.033in the prior year.</p><p><blockquote><b>每股美国存托股基本和摊薄净亏损</b>2020财年每股美国存托凭证基本和摊薄净利润均为人民币0.089元（0.014美元），而上一年每股美国存托凭证基本净利润和摊薄净利润为人民币0.033元。</blockquote></p><p><b>Non-GAAP basic and diluted netincome&nbsp;per ADS</b>were bothRMB0.557(US$0.085)in fiscal year 2020, compared toRMB0.070per ADS in the prior year.</p><p><blockquote><b>非GAAP每股美国存托凭证基本和摊薄净收入</b>2020财年每股美国存托凭证为0.557元人民币（0.085美元），而上一年为每股美国存托凭证0.070元人民币。</blockquote></p><p><b><u>Balance&nbsp;Sheet</u></b></p><p><blockquote><b><u>资产负债表</u></b></blockquote></p><p>As ofDecember 31, 2020, the Company had cash and cash equivalents, restricted cash, short-term bank deposits and short-term investments ofRMB3,421.4&nbsp;million (US$524.4&nbsp;million), compared toRMB811.7 millionas ofDecember 31, 2019.</p><p><blockquote>截至2020年12月31日，公司的现金及现金等价物、限制性现金、短期银行存款和短期投资为人民币34.214亿元（5.244亿美元），而截至2019年12月31日为人民币8.117亿元。</blockquote></p><p><b><u>Business Outlook</u></b></p><p><blockquote><b><u>业务展望</u></b></blockquote></p><p>For the first quarter of 2021, the Company currently expects net revenues to exceedRMB2,300 million, and expects non-GAAP net income to exceedRMB590 million. The Company's expected net income will also include share-based compensation expenses which depend on the Company's share price and are not available without unreasonable efforts. The Company also expects gross margin&nbsp;toremain steady.</p><p><blockquote>对于2021年第一季度，公司目前预计净收入将超过人民币23亿元，预计非公认会计准则净利润将超过人民币5.9亿元。公司的预期净利润还将包括基于股份的薪酬费用，这些费用取决于公司的股价，如果不付出不合理的努力就无法获得。该公司还预计毛利率将保持稳定。</blockquote></p><p>The above outlook is based on the current market conditions, including those related to the COVID-19 pandemic, and reflects the Company's preliminary estimates of market and operating conditions, and users' demand, which are all subject to change. Please refer to \"Safe Harbor Statement\" in this press release for risks associated with forward-looking statements.</p><p><blockquote>上述展望基于当前市场状况，包括与COVID-19大流行相关的市场状况，反映了公司对市场和运营状况以及用户需求的初步估计，这些都可能发生变化。有关与前瞻性陈述相关的风险，请参阅本新闻稿中的“安全港声明”。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"RLX":"雾芯科技"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2122473630","content_text":"BEIJING, March 26, 2021 /PRNewswire/ -- RLX Technology Inc. (\"RLX Technology\" or the \"Company\") (NYSE: RLX), a leading branded e-vapor company inChina, today announced its unaudited financial results for the fourth quarter and the fiscal year endedDecember 31, 2020.Fourth Quarter 2020 Financial HighlightsNet revenueswereRMB1,618.5 million(US$248.0 million), representing an increase of 44.5% fromRMB1,120.2 millionin the third quarter of 2020.Gross marginwas 42.9%, compared to 39.1% in the third quarter of 2020.Net losswasRMB236.7 million(US$36.3 million), compared with net income ofRMB7.8 millionin the third quarter of 2020.Non-GAAP net income[1]wasRMB419.3 million(US$64.3 million).[1]Non-GAAP net (loss)/income is a non-GAAP financial measure. For more information on the Company's non-GAAP financial measures, please see the section \"Non-GAAP Financial Measures\" and the table captioned \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" set forth at the end of this press release.Fiscal Year 2020 Financial HighlightsNet revenueswereRMB3,819.7 million(US$585.4 million) in fiscal year 2020, representing an increase of 146.5% fromRMB1,549.4 millionin the prior year.Gross marginwas 40.0% in fiscal year 2020, compared to 37.5% in the prior year.Net losswasRMB128.1 million(US$19.6 million) in fiscal year 2020, compared with net income ofRMB47.7 millionin the prior year.Non-GAAP net incomewasRMB801.0 million(US$122.8 million).\"We are pleased to report financial and operational results for the fourth quarter of 2020. Throughout 2020, despite challenges stemming from COVID-19, our business remained resilient, and our management team maintained our focus on building and strengthening RELX as a trusted brand for adult smokers,\" said Ms.Ying (Kate) Wang, Co-founder, Chairperson of the Board of Directors and Chief Executive Officer of RLX Technology. \"We continue to consistently uphold and practice our ethical principles, including facilitating the prevention of underage use of our products through our industry pioneeringGuardian Program,introducing effective age-verification practices to the industry. This fourth quarter also witnessed the first anniversary of the launch of ourSunflower System, our technology-driven underage-access-prevention system. In addition, we continued to advance ourGolden Shield Programin cooperation with the public, media and local authorities to combat sales of counterfeit products.\"\"Looking forward, we plan to further solidify our leadership as we endeavor to continue investment in scientific research, enhance our technology and product development, strengthen our distribution and retail network, bolster supply chain and production capabilities, and extend our global capabilities. These strategic initiatives are designed to support our growth over the long-term,\" Ms. Wang concluded.Closing of Initial Public Offering (\"IPO\")OnJanuary 26, 2021, the Company completed the closing of its initial public offering of 133,975,000 American depositary shares (\"ADSs\"), each representing one Class A ordinary share. The number of ADSs issued at closing included 17,475,000 ADSs issued pursuant to the exercise in full of over-allotment option by the underwriters. At a price to the public ofUS$12.00per ADS, the total offering size wasUS$1,607.7 million.Fourth Quarter 2020 Unaudited Financial ResultsNet revenues increased by 44.5% toRMB1,618.5 million(US$248.0 million) in the fourth quarter of 2020 fromRMB1,120.2 millionin the third quarter of 2020. The increase was primarily due to an increase in net revenues from sales to offline distributors, which was mainly attributable to the expansion of the Company's distribution and retail network.Gross profit increased by 58.6% to RMB694.1 million (US$106.4 million) in the fourth quarter of 2020 fromRMB437.5 millionin the third quarter of 2020.Gross margin increased to 42.9% in the fourth quarter of 2020, compared to 39.1% in the third quarter of 2020.Operating expenses wereRMB852.6 million(US$130.7 million) in the fourth quarter of 2020, representing an increase of 124.4% fromRMB380.0 million in the third quarter of 2020.Selling expensesincreased by 127.0% to RMB196.7 million (US$30.1 million) in the fourth quarter of 2020 fromRMB86.7 millionin the third quarter of 2020. The increase was mainly driven by (i) an increase in share-based compensation expenses, and (ii) an increase in branding material expenses.General and administrative expenses increased by 75.4% toRMB447.0 million(US$68.5 million) in the fourth quarter of 2020 fromRMB254.8 millionin the third quarter of 2020. The increase wasprimarilydue to (i) an increase in share-based compensation expenses, and (ii) an increase in professional service fees.Research and development expensesincreased by 441.9% to RMB208.9 million (US$32.0 million) in the fourth quarter of 2020 fromRMB38.5 millionin the third quarter of 2020. The increase wasprimarilydriven by (i) an increase in share-based compensation expenses, and (ii) an increase in software and technical service expenses.Share-based compensation expenses recognized in selling expenses, general and administrative expenses and research and development expenses in total wereRMB656.1 million (US$100.6 million) in the fourth quarter of 2020 andRMB238.2 million in the third quarter of 2020. The increase was primarily due to the increase in fair value of ordinary shares of Relx Inc.Loss from operations wasRMB158.5 million (US$24.3 million) in the fourth quarter of 2020, compared with income from operations ofRMB57.5 millionin the third quarter of 2020.Income tax expense wasRMB110.6 million (US$17.0 million) in the fourth quarter of 2020, compared with income tax expense ofRMB77.3 millionin the third quarter of 2020, primarily due to an increase in taxable income.Net loss wasRMB236.7 million (US$36.3 million) in the fourth quarter of 2020, compared with net income ofRMB7.8 millionin the third quarter of 2020.Non-GAAP net incomewasRMB419.3 million(US$64.3 million) in the fourth quarter of 2020.Basic and diluted net loss per American depositary share (\"ADS\") were bothRMB0.165(US$0.025)in the fourth quarter of 2020, compared to basic and diluted net income per ADS ofRMB0.005in the third quarter of 2020.Non-GAAP basic and diluted netincome per ADS[2]were bothRMB0.292(US$0.045)in the fourth quarter of 2020, compared toRMB0.171in the third quarter of 2020.[2]Non-GAAP basic and diluted net (loss)/income per ADS is a non-GAAP financial measure. For more information on the Company's non-GAAP financial measures, please see the section \"Non-GAAP Financial Measures\" and the table captioned \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" set forth at the end of this press release.Fiscal Year 2020 Unaudited Financial ResultsNet revenues increased by 146.5% to RMB3,819.7 million (US$585.4 million) in fiscal year 2020 fromRMB1,549.4 million in the prior year. The increase was primary due to an increase in net revenues from sales to offline distributors.Gross profit increased by 162.9% to RMB1,527.6 million (US$234.1 million) in fiscal year 2020 fromRMB580.9 millionin the prior year.Gross margin was 40.0% in the fiscal year 2020, compared to 37.5% in the prior year.Operating expenses wereRMB1,514.4 million(US$232.1 million) in fiscal year 2020, representing an increase of 188.7% fromRMB524.6 million in the prior year.Selling expensesincreased by 23.3% toRMB443.2 million(US$67.9 million) in fiscal year 2020 fromRMB359.4 millionin the prior year. The increase was primarilydue to (i) an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's selling personnel, partially offset by a decrease in e-commerce platform service expenses as the Company closed its stores on e-commerce platforms and ceased collaboration with e-commerce platform distributors in response to theOctober 2019Announcement.General and administrative expenses increased by 479.5% toRMB772.0 million(US$118.3 million) in fiscal year 2020 fromRMB133.2 millionin the prior year. The increase was primarilyattributable to (i) an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's general and administrative personnel.Research and development expensesincreased by 837.2% toRMB299.3 million(US$45.9 million) in fiscal year 2020 fromRMB31.9 millionin the prior year. The increase was primarilydue to (i) an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's research and development personnel.Share-based compensation expenses recognized in selling expenses, general and administrative expenses and research and development expenses in total wereRMB929.1 million(US$142.4 million) in fiscal year 2020 andRMB52.7 millionin the prior year, primarily due to the increase in fair value of ordinary shares of Relx Inc.Income from operationsdecreased by 76.7% toRMB13.1 million(US$2.0 million) in fiscal year 2020 fromRMB56.4 millionin the prior year.Income tax expense wasRMB230.5 million (US$35.3 million) in fiscal year 2020, representing an increase of 789.3% fromRMB25.9 million in the prior year. The increase was primarilydue to an increase in taxable income.Net loss wasRMB128.1 million(US$19.6 million) in fiscal year 2020, compared with net income ofRMB47.7 millionin the prior year.Non-GAAP net incomewasRMB801.0 million(US$122.8 million) in fiscal year 2020.Basic and diluted net loss per ADS were bothRMB0.089(US$0.014)in fiscal year 2020, compared to basic and diluted net income per ADS ofRMB0.033in the prior year.Non-GAAP basic and diluted netincome per ADSwere bothRMB0.557(US$0.085)in fiscal year 2020, compared toRMB0.070per ADS in the prior year.Balance SheetAs ofDecember 31, 2020, the Company had cash and cash equivalents, restricted cash, short-term bank deposits and short-term investments ofRMB3,421.4 million (US$524.4 million), compared toRMB811.7 millionas ofDecember 31, 2019.Business OutlookFor the first quarter of 2021, the Company currently expects net revenues to exceedRMB2,300 million, and expects non-GAAP net income to exceedRMB590 million. The Company's expected net income will also include share-based compensation expenses which depend on the Company's share price and are not available without unreasonable efforts. The Company also expects gross margin toremain steady.The above outlook is based on the current market conditions, including those related to the COVID-19 pandemic, and reflects the Company's preliminary estimates of market and operating conditions, and users' demand, which are all subject to change. Please refer to \"Safe Harbor Statement\" in this press release for risks associated with forward-looking statements.","news_type":1,"symbols_score_info":{"RLX":0.9}},"isVote":1,"tweetType":1,"viewCount":1441,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":358141953,"gmtCreate":1616675976372,"gmtModify":1631890383398,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"Love this stonk","listText":"Love this stonk","text":"Love this stonk","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/358141953","repostId":"1163829159","repostType":2,"repost":{"id":"1163829159","kind":"news","pubTimestamp":1616591036,"share":"https://www.laohu8.com/m/news/1163829159?lang=zh_CN&edition=full","pubTime":"2021-03-24 21:03","market":"us","language":"en","title":"Here's Why Beyond Meat Stock Could Shine Again in 2021<blockquote>这就是为什么Beyond Meat股票可能在2021年再次大放异彩</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1163829159","media":"Motley Fool ","summary":"Consumer spending is normalizing, and the meat substitute leader could have much to gain from a reop","content":"<p>Consumer spending is normalizing, and the meat substitute leader could have much to gain from a reopening economy.</p><p><blockquote>消费者支出正在正常化，肉类替代品领导者可能会从经济重新开放中受益匪浅。</blockquote></p><p> Since its epic rise after its IPO in 2019, the stock for plant-based-protein pioneer&nbsp;<b>Beyond Meat</b>&nbsp;(NASDAQ:BYND)&nbsp;has been stuck in a sideways action. The company has been hit by a flood of new competition, a pandemic, and a steady stream of bearish calls lambasting the high-flying stock's valuation. In spite of all this, though, the company has managed to stay (just barely at times) in growth mode.</p><p><blockquote>自2019年IPO后史诗般上涨以来，植物蛋白先驱的股票<b>Beyond Meat</b>（纳斯达克：BYND）一直陷入横盘整理。该公司受到了大量新竞争、流行病以及源源不断的看跌评级的打击，这些都严重打击了这只飞速发展的股票的估值。尽管如此，该公司还是设法保持（有时只是勉强）增长模式。</blockquote></p><p> As 2021 gets underway, the extended slumber for this next-gen food stock could be ready to reverse course. Here's why.</p><p><blockquote>随着2021年的到来，这种下一代食品库存的长期沉睡可能会逆转。原因如下。</blockquote></p><p> <b>This is one way for a stock to crash</b></p><p><blockquote><b>这是股票崩盘的一种方式</b></blockquote></p><p> After the extreme optimism in the months following its IPO, Beyond Meat stock has been a roller coaster ride. It's dropped, it's made several attempts to run higher, but ultimately it has come back to the same station from which it started almost two years ago: a&nbsp;market cap&nbsp;just shy of $9 billion.</p><p><blockquote>在经历了首次公开募股后几个月的极度乐观之后，Beyond Meat的股价就像坐过山车一样。它下跌了，多次尝试走高，但最终又回到了近两年前开始的同一个位置：市值略低于90亿美元。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/855358a1d48d9d00410554baeff7ab31\" tg-width=\"2000\" tg-height=\"1333\"><span>IS IT A BEEF PATTY, OR A PLANT-BASED ONE? IT'S HARDER TO TELL THESE DAYS. IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>是牛肉馅饼，还是植物馅饼？现在很难说了。图片来源：盖蒂图片社。</span></p></blockquote></p><p> This kind of volatile sideways action is one way for a stock to \"crash.\" Since the irrational exuberance wore off in the summer of 2019, Beyond Meat stock is sitting at essentially a 0% return. Meanwhile, the&nbsp;<b>S&amp;P 500</b>&nbsp;is up 33%.</p><p><blockquote>这种波动的横盘走势是股票“崩盘”的一种方式。自2019年夏季非理性繁荣消退以来，Beyond Meat股票的回报率基本上为0%。同时，<b>标普500</b>上涨了33%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a11cfc35183cbcaac25c7c4b8e835253\" tg-width=\"720\" tg-height=\"435\"><span>DATA BY YCHARTS.</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据由YCHARTS提供。</span></p></blockquote></p><p> As previously mentioned, though, Beyond Meat itself has continued to grow its business. Even in 2020, it weathered the COVID-19 storm and was able to maintain some positive traction disrupting the massive animal-based protein industry. Foodservice sales -- those made to restaurants -- took a sizable hit as consumers chose to eat at home during the pandemic, but retail sales via its grocery store distributors more than picked up the slack.</p><p><blockquote>不过，如前所述，Beyond Meat本身的业务也在继续增长。即使在2020年，它也经受住了新冠肺炎风暴，并能够保持一些积极的牵引力，扰乱了庞大的动物蛋白行业。由于消费者在疫情期间选择在家吃饭，餐饮服务销售（向餐馆销售的销售）受到了相当大的打击，但通过杂货店分销商的零售额远远弥补了这一缺口。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/193132417a321a9d268f89a8d55326ef\" tg-width=\"1149\" tg-height=\"420\"><span>DATA SOURCE: BEYOND MEAT. YOY = YEAR OVER YEAR.</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来源：BEYOND MEAT。YOY=同比。</span></p></blockquote></p><p> Granted, none of this means Beyond Meat shares are trading for some sort of bargain. At 22 times trailing-12-month sales and not reporting much in the way of meaningful profits yet (adjusted&nbsp;EBITDA&nbsp;was just $11.8 million in 2020 on total revenue of $407 million), suffice to say Beyond Meat is expected to return to rapid expansion in 2021 and, well, beyond.</p><p><blockquote>诚然，这并不意味着Beyond Meat股票的交易价格很便宜。过去12个月销售额的22倍，但尚未报告太多有意义的利润（2020年调整后EBITDA仅为1180万美元，总收入为4.07亿美元），足以说Beyond Meat预计将恢复快速扩张2021年及以后。</blockquote></p><p> Powerful brand recognition in an otherwise commoditized marketplace</p><p><blockquote>在商品化市场中强大的品牌认知度</blockquote></p><p> I think there's a good chance the implied growth shareholders are expecting will transpire. With the economy reopening, consumers will start returning to restaurants. And restaurants themselves will start to normalize their supply chains, too. Simplified menus with fewer options -- an attempt to cut expenses -- hurt Beyond Meat as much as lower customer foot traffic did.</p><p><blockquote>我认为股东预期的隐含增长很有可能会实现。随着经济重新开放，消费者将开始回到餐馆。餐馆本身也将开始实现供应链正常化。简化菜单和更少的选择——试图削减开支——对Beyond Meat的伤害不亚于减少顾客客流量。</blockquote></p><p> But this is more than an economic reopening bet. Beyond Meat and its peer Impossible Foods are on a mission to reduce animal protein consumption and promote more economically friendly practices. The message continues to win over fans. Some fast followers among food supplier incumbents have benefited, too (like&nbsp;<b>Nestle</b>&nbsp;and itsSweet Earth subsidiary). But as competition mounts and pricing on plant-based protein products falls, Beyond Meat has done a pretty good job&nbsp;holding on to some profit margin. Increasing retail and foodservice distribution will help this cause over time now that it's built out its manufacturing capabilities. Given the multiple dynamics behind the plant-based protein movement, Beyond Meat is looking increasingly less like a fad (hard seltzer, anyone?) and more like a potential long-term trend.</p><p><blockquote>但这不仅仅是一场经济重新开放的赌注。Beyond Meat及其同行Impossible Foods的使命是减少动物蛋白消费并促进更经济友好的做法。这一信息继续赢得粉丝的支持。食品供应商中的一些快速追随者也从中受益（如<b>偎依</b>及其Sweet Earth子公司）。但随着竞争的加剧和植物蛋白产品价格的下降，Beyond Meat在保持一定利润率方面做得相当好。随着时间的推移，增加零售和餐饮服务分销将有助于这一事业，因为它已经建立了制造能力。鉴于植物蛋白运动背后的多重动力，Beyond Meat看起来越来越不像一种时尚（有人要喝硬苏打水吗？），而更像是一种潜在的长期趋势。</blockquote></p><p> Here's another case in point: It's rare for restaurants to name their supplier in marketing campaigns. But there are exceptions. Think&nbsp;<b>Coca-Cola</b>&nbsp;products with fiercely loyal fans of its drinks,<b>PepsiCo</b>&nbsp;and its drinks and snack foods, or the \"Certified Angus Beef\" trademark. To pique diner interest, a restaurant might name drop a key food supplier if it has brand power. It's early in the game, but Beyond Meat is exhibiting this kind of consumer awareness and brand loyalty. When's the last time you saw a fast-food company tout carrying Sweet Earth burger patties? Beyond Meat, by contrast, often gets mentioned. And it continues to forge relationships within foodservice -- most recently&nbsp;inking new deals&nbsp;with&nbsp;two of world's largest chains,<b>McDonald's</b>&nbsp;and&nbsp;<b>Yum! Brands</b>.</p><p><blockquote>这是另一个恰当的例子：餐馆很少在营销活动中说出供应商的名字。但也有例外。思考<b>可口可乐</b>拥有其饮料忠实粉丝的产品，<b>百事可乐</b>及其饮料和休闲食品，或“认证安格斯牛肉”商标。为了激起食客的兴趣，如果一家餐馆有品牌影响力，它可能会点名一个主要的食品供应商。现在还处于早期阶段，但Beyond Meat正在展示这种消费者意识和品牌忠诚度。你最后一次看到快餐公司兜售甜地球汉堡肉饼是什么时候？相比之下，Beyond Meat经常被提及。它继续在餐饮服务领域建立关系——最近与世界上最大的两家连锁店签署了新协议，<b>麦当劳</b>和<b>好吃！品牌</b>.</blockquote></p><p></p><p> I'm not saying to go out and load up on Beyond Meat stock as the economy (and consumer spending) starts to normalize. A lot is riding on the plant-based food company returning to rapid growth, and with the effects of the pandemic still ongoing, those efforts could be derailed. However, if it does recapture some double-digit percentage expansion, 2021 could be the year Beyond Meat stock shines once more.</p><p><blockquote>我并不是说随着经济（和消费者支出）开始正常化，就去买入Beyond Meat股票。很大程度上取决于这家植物性食品公司能否恢复快速增长，由于大流行的影响仍在持续，这些努力可能会脱轨。然而，如果它确实重新实现两位数的百分比扩张，2021年可能是Beyond Meat股票再次大放异彩的一年。</blockquote></p><p></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>Here's Why Beyond Meat Stock Could Shine Again in 2021<blockquote>这就是为什么Beyond Meat股票可能在2021年再次大放异彩</blockquote></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\">\nHere's Why Beyond Meat Stock Could Shine Again in 2021<blockquote>这就是为什么Beyond Meat股票可能在2021年再次大放异彩</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool </strong><span class=\"h-time small\">2021-03-24 21:03</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Consumer spending is normalizing, and the meat substitute leader could have much to gain from a reopening economy.</p><p><blockquote>消费者支出正在正常化，肉类替代品领导者可能会从经济重新开放中受益匪浅。</blockquote></p><p> Since its epic rise after its IPO in 2019, the stock for plant-based-protein pioneer&nbsp;<b>Beyond Meat</b>&nbsp;(NASDAQ:BYND)&nbsp;has been stuck in a sideways action. The company has been hit by a flood of new competition, a pandemic, and a steady stream of bearish calls lambasting the high-flying stock's valuation. In spite of all this, though, the company has managed to stay (just barely at times) in growth mode.</p><p><blockquote>自2019年IPO后史诗般上涨以来，植物蛋白先驱的股票<b>Beyond Meat</b>（纳斯达克：BYND）一直陷入横盘整理。该公司受到了大量新竞争、流行病以及源源不断的看跌评级的打击，这些都严重打击了这只飞速发展的股票的估值。尽管如此，该公司还是设法保持（有时只是勉强）增长模式。</blockquote></p><p> As 2021 gets underway, the extended slumber for this next-gen food stock could be ready to reverse course. Here's why.</p><p><blockquote>随着2021年的到来，这种下一代食品库存的长期沉睡可能会逆转。原因如下。</blockquote></p><p> <b>This is one way for a stock to crash</b></p><p><blockquote><b>这是股票崩盘的一种方式</b></blockquote></p><p> After the extreme optimism in the months following its IPO, Beyond Meat stock has been a roller coaster ride. It's dropped, it's made several attempts to run higher, but ultimately it has come back to the same station from which it started almost two years ago: a&nbsp;market cap&nbsp;just shy of $9 billion.</p><p><blockquote>在经历了首次公开募股后几个月的极度乐观之后，Beyond Meat的股价就像坐过山车一样。它下跌了，多次尝试走高，但最终又回到了近两年前开始的同一个位置：市值略低于90亿美元。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/855358a1d48d9d00410554baeff7ab31\" tg-width=\"2000\" tg-height=\"1333\"><span>IS IT A BEEF PATTY, OR A PLANT-BASED ONE? IT'S HARDER TO TELL THESE DAYS. IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>是牛肉馅饼，还是植物馅饼？现在很难说了。图片来源：盖蒂图片社。</span></p></blockquote></p><p> This kind of volatile sideways action is one way for a stock to \"crash.\" Since the irrational exuberance wore off in the summer of 2019, Beyond Meat stock is sitting at essentially a 0% return. Meanwhile, the&nbsp;<b>S&amp;P 500</b>&nbsp;is up 33%.</p><p><blockquote>这种波动的横盘走势是股票“崩盘”的一种方式。自2019年夏季非理性繁荣消退以来，Beyond Meat股票的回报率基本上为0%。同时，<b>标普500</b>上涨了33%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a11cfc35183cbcaac25c7c4b8e835253\" tg-width=\"720\" tg-height=\"435\"><span>DATA BY YCHARTS.</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据由YCHARTS提供。</span></p></blockquote></p><p> As previously mentioned, though, Beyond Meat itself has continued to grow its business. Even in 2020, it weathered the COVID-19 storm and was able to maintain some positive traction disrupting the massive animal-based protein industry. Foodservice sales -- those made to restaurants -- took a sizable hit as consumers chose to eat at home during the pandemic, but retail sales via its grocery store distributors more than picked up the slack.</p><p><blockquote>不过，如前所述，Beyond Meat本身的业务也在继续增长。即使在2020年，它也经受住了新冠肺炎风暴，并能够保持一些积极的牵引力，扰乱了庞大的动物蛋白行业。由于消费者在疫情期间选择在家吃饭，餐饮服务销售（向餐馆销售的销售）受到了相当大的打击，但通过杂货店分销商的零售额远远弥补了这一缺口。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/193132417a321a9d268f89a8d55326ef\" tg-width=\"1149\" tg-height=\"420\"><span>DATA SOURCE: BEYOND MEAT. YOY = YEAR OVER YEAR.</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来源：BEYOND MEAT。YOY=同比。</span></p></blockquote></p><p> Granted, none of this means Beyond Meat shares are trading for some sort of bargain. At 22 times trailing-12-month sales and not reporting much in the way of meaningful profits yet (adjusted&nbsp;EBITDA&nbsp;was just $11.8 million in 2020 on total revenue of $407 million), suffice to say Beyond Meat is expected to return to rapid expansion in 2021 and, well, beyond.</p><p><blockquote>诚然，这并不意味着Beyond Meat股票的交易价格很便宜。过去12个月销售额的22倍，但尚未报告太多有意义的利润（2020年调整后EBITDA仅为1180万美元，总收入为4.07亿美元），足以说Beyond Meat预计将恢复快速扩张2021年及以后。</blockquote></p><p> Powerful brand recognition in an otherwise commoditized marketplace</p><p><blockquote>在商品化市场中强大的品牌认知度</blockquote></p><p> I think there's a good chance the implied growth shareholders are expecting will transpire. With the economy reopening, consumers will start returning to restaurants. And restaurants themselves will start to normalize their supply chains, too. Simplified menus with fewer options -- an attempt to cut expenses -- hurt Beyond Meat as much as lower customer foot traffic did.</p><p><blockquote>我认为股东预期的隐含增长很有可能会实现。随着经济重新开放，消费者将开始回到餐馆。餐馆本身也将开始实现供应链正常化。简化菜单和更少的选择——试图削减开支——对Beyond Meat的伤害不亚于减少顾客客流量。</blockquote></p><p> But this is more than an economic reopening bet. Beyond Meat and its peer Impossible Foods are on a mission to reduce animal protein consumption and promote more economically friendly practices. The message continues to win over fans. Some fast followers among food supplier incumbents have benefited, too (like&nbsp;<b>Nestle</b>&nbsp;and itsSweet Earth subsidiary). But as competition mounts and pricing on plant-based protein products falls, Beyond Meat has done a pretty good job&nbsp;holding on to some profit margin. Increasing retail and foodservice distribution will help this cause over time now that it's built out its manufacturing capabilities. Given the multiple dynamics behind the plant-based protein movement, Beyond Meat is looking increasingly less like a fad (hard seltzer, anyone?) and more like a potential long-term trend.</p><p><blockquote>但这不仅仅是一场经济重新开放的赌注。Beyond Meat及其同行Impossible Foods的使命是减少动物蛋白消费并促进更经济友好的做法。这一信息继续赢得粉丝的支持。食品供应商中的一些快速追随者也从中受益（如<b>偎依</b>及其Sweet Earth子公司）。但随着竞争的加剧和植物蛋白产品价格的下降，Beyond Meat在保持一定利润率方面做得相当好。随着时间的推移，增加零售和餐饮服务分销将有助于这一事业，因为它已经建立了制造能力。鉴于植物蛋白运动背后的多重动力，Beyond Meat看起来越来越不像一种时尚（有人要喝硬苏打水吗？），而更像是一种潜在的长期趋势。</blockquote></p><p> Here's another case in point: It's rare for restaurants to name their supplier in marketing campaigns. But there are exceptions. Think&nbsp;<b>Coca-Cola</b>&nbsp;products with fiercely loyal fans of its drinks,<b>PepsiCo</b>&nbsp;and its drinks and snack foods, or the \"Certified Angus Beef\" trademark. To pique diner interest, a restaurant might name drop a key food supplier if it has brand power. It's early in the game, but Beyond Meat is exhibiting this kind of consumer awareness and brand loyalty. When's the last time you saw a fast-food company tout carrying Sweet Earth burger patties? Beyond Meat, by contrast, often gets mentioned. And it continues to forge relationships within foodservice -- most recently&nbsp;inking new deals&nbsp;with&nbsp;two of world's largest chains,<b>McDonald's</b>&nbsp;and&nbsp;<b>Yum! Brands</b>.</p><p><blockquote>这是另一个恰当的例子：餐馆很少在营销活动中说出供应商的名字。但也有例外。思考<b>可口可乐</b>拥有其饮料忠实粉丝的产品，<b>百事可乐</b>及其饮料和休闲食品，或“认证安格斯牛肉”商标。为了激起食客的兴趣，如果一家餐馆有品牌影响力，它可能会点名一个主要的食品供应商。现在还处于早期阶段，但Beyond Meat正在展示这种消费者意识和品牌忠诚度。你最后一次看到快餐公司兜售甜地球汉堡肉饼是什么时候？相比之下，Beyond Meat经常被提及。它继续在餐饮服务领域建立关系——最近与世界上最大的两家连锁店签署了新协议，<b>麦当劳</b>和<b>好吃！品牌</b>.</blockquote></p><p></p><p> I'm not saying to go out and load up on Beyond Meat stock as the economy (and consumer spending) starts to normalize. A lot is riding on the plant-based food company returning to rapid growth, and with the effects of the pandemic still ongoing, those efforts could be derailed. However, if it does recapture some double-digit percentage expansion, 2021 could be the year Beyond Meat stock shines once more.</p><p><blockquote>我并不是说随着经济（和消费者支出）开始正常化，就去买入Beyond Meat股票。很大程度上取决于这家植物性食品公司能否恢复快速增长，由于大流行的影响仍在持续，这些努力可能会脱轨。然而，如果它确实重新实现两位数的百分比扩张，2021年可能是Beyond Meat股票再次大放异彩的一年。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/03/24/why-beyond-meat-stock-could-shine-again-in-2021/\">Motley Fool </a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BYND":"Beyond Meat, Inc."},"source_url":"https://www.fool.com/investing/2021/03/24/why-beyond-meat-stock-could-shine-again-in-2021/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163829159","content_text":"Consumer spending is normalizing, and the meat substitute leader could have much to gain from a reopening economy.\nSince its epic rise after its IPO in 2019, the stock for plant-based-protein pioneer Beyond Meat (NASDAQ:BYND) has been stuck in a sideways action. The company has been hit by a flood of new competition, a pandemic, and a steady stream of bearish calls lambasting the high-flying stock's valuation. In spite of all this, though, the company has managed to stay (just barely at times) in growth mode.\nAs 2021 gets underway, the extended slumber for this next-gen food stock could be ready to reverse course. Here's why.\nThis is one way for a stock to crash\nAfter the extreme optimism in the months following its IPO, Beyond Meat stock has been a roller coaster ride. It's dropped, it's made several attempts to run higher, but ultimately it has come back to the same station from which it started almost two years ago: a market cap just shy of $9 billion.\nIS IT A BEEF PATTY, OR A PLANT-BASED ONE? IT'S HARDER TO TELL THESE DAYS. IMAGE SOURCE: GETTY IMAGES.\nThis kind of volatile sideways action is one way for a stock to \"crash.\" Since the irrational exuberance wore off in the summer of 2019, Beyond Meat stock is sitting at essentially a 0% return. Meanwhile, the S&P 500 is up 33%.\nDATA BY YCHARTS.\nAs previously mentioned, though, Beyond Meat itself has continued to grow its business. Even in 2020, it weathered the COVID-19 storm and was able to maintain some positive traction disrupting the massive animal-based protein industry. Foodservice sales -- those made to restaurants -- took a sizable hit as consumers chose to eat at home during the pandemic, but retail sales via its grocery store distributors more than picked up the slack.\nDATA SOURCE: BEYOND MEAT. YOY = YEAR OVER YEAR.\nGranted, none of this means Beyond Meat shares are trading for some sort of bargain. At 22 times trailing-12-month sales and not reporting much in the way of meaningful profits yet (adjusted EBITDA was just $11.8 million in 2020 on total revenue of $407 million), suffice to say Beyond Meat is expected to return to rapid expansion in 2021 and, well, beyond.\nPowerful brand recognition in an otherwise commoditized marketplace\nI think there's a good chance the implied growth shareholders are expecting will transpire. With the economy reopening, consumers will start returning to restaurants. And restaurants themselves will start to normalize their supply chains, too. Simplified menus with fewer options -- an attempt to cut expenses -- hurt Beyond Meat as much as lower customer foot traffic did.\nBut this is more than an economic reopening bet. Beyond Meat and its peer Impossible Foods are on a mission to reduce animal protein consumption and promote more economically friendly practices. The message continues to win over fans. Some fast followers among food supplier incumbents have benefited, too (like Nestle and itsSweet Earth subsidiary). But as competition mounts and pricing on plant-based protein products falls, Beyond Meat has done a pretty good job holding on to some profit margin. Increasing retail and foodservice distribution will help this cause over time now that it's built out its manufacturing capabilities. Given the multiple dynamics behind the plant-based protein movement, Beyond Meat is looking increasingly less like a fad (hard seltzer, anyone?) and more like a potential long-term trend.\nHere's another case in point: It's rare for restaurants to name their supplier in marketing campaigns. But there are exceptions. Think Coca-Cola products with fiercely loyal fans of its drinks,PepsiCo and its drinks and snack foods, or the \"Certified Angus Beef\" trademark. To pique diner interest, a restaurant might name drop a key food supplier if it has brand power. It's early in the game, but Beyond Meat is exhibiting this kind of consumer awareness and brand loyalty. When's the last time you saw a fast-food company tout carrying Sweet Earth burger patties? Beyond Meat, by contrast, often gets mentioned. And it continues to forge relationships within foodservice -- most recently inking new deals with two of world's largest chains,McDonald's and Yum! Brands.\nI'm not saying to go out and load up on Beyond Meat stock as the economy (and consumer spending) starts to normalize. A lot is riding on the plant-based food company returning to rapid growth, and with the effects of the pandemic still ongoing, those efforts could be derailed. However, if it does recapture some double-digit percentage expansion, 2021 could be the year Beyond Meat stock shines once more.","news_type":1,"symbols_score_info":{"BYND":0.9}},"isVote":1,"tweetType":1,"viewCount":2632,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":351290259,"gmtCreate":1616595943571,"gmtModify":1631891768624,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/PDD\">$PDD 20210401 135.0 PUT(PDD)$</a>one day effort","listText":"<a href=\"https://laohu8.com/S/PDD\">$PDD 20210401 135.0 PUT(PDD)$</a>one day effort","text":"$PDD 20210401 135.0 PUT(PDD)$one day effort","images":[{"img":"https://static.tigerbbs.com/5afa35db2883da6fa502d51b6aa5373b","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/351290259","isVote":1,"tweetType":1,"viewCount":617,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":353401639,"gmtCreate":1616510294021,"gmtModify":1631891768626,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"WTF","listText":"WTF","text":"WTF","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/353401639","repostId":"1195122405","repostType":4,"repost":{"id":"1195122405","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1616509155,"share":"https://www.laohu8.com/m/news/1195122405?lang=zh_CN&edition=full","pubTime":"2021-03-23 22:19","market":"us","language":"en","title":"All three major U.S. stock indexes turned green from red.<blockquote>美股三大指数悉数由红转绿。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1195122405","media":"Tiger Newspress","summary":"All three major U.S. stock indexes turned green from red.","content":"<p>All three major U.S. stock indexes turned green from red.</p><p><blockquote>美股三大指数悉数由红转绿。</blockquote></p><p></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>All three major U.S. stock indexes turned green from red.<blockquote>美股三大指数悉数由红转绿。</blockquote></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; 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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\">\nAll three major U.S. stock indexes turned green from red.<blockquote>美股三大指数悉数由红转绿。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-03-23 22:19</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>All three major U.S. stock indexes turned green from red.</p><p><blockquote>美股三大指数悉数由红转绿。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1195122405","content_text":"All three major U.S. stock indexes turned green from red.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":650,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":353400221,"gmtCreate":1616510181963,"gmtModify":1631891768629,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"I have named my dotter Cathie in honour of ARK&nbsp;","listText":"I have named my dotter Cathie in honour of ARK&nbsp;","text":"I have named my dotter Cathie in honour of ARK","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/353400221","repostId":"1137063642","repostType":4,"repost":{"id":"1137063642","kind":"news","pubTimestamp":1616505836,"share":"https://www.laohu8.com/m/news/1137063642?lang=zh_CN&edition=full","pubTime":"2021-03-23 21:23","market":"us","language":"en","title":"Jury out on whether ARK Innovation returns are due to Cathie Wood’s skill or luck<blockquote>方舟创新的回报是由于凯西·伍德的技能还是运气还没有定论</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1137063642","media":"MarketWatch","summary":"Statistical scrutiny brings this high-flying ETF down to earth\nYou could have performed as well as t","content":"<p>Statistical scrutiny brings this high-flying ETF down to earth</p><p><blockquote>统计审查让这只飞速发展的ETF脚踏实地</blockquote></p><p> You could have performed as well as the high-flying ARK Innovation ETF by investing in the Nasdaq 100 Index.</p><p><blockquote>通过投资纳斯达克100指数，您本可以表现得与飞速发展的ARK Innovation ETF一样好。</blockquote></p><p> I know that seems hard to believe, given the stunning performance chief investment officer Cathie Wood has produced with ARK Innovation— a 229% gain over the past year, according to FactSet. Meanwhile, the Invesco QQQ Trust&nbsp;(which is benchmarked to the Nasdaq 100), gained 78%. Since its creation in October 2014, ARK Innovation has produced an annualized gain of 34.6%, versus 20.6% for the QQQ.</p><p><blockquote>我知道这似乎很难相信，因为首席投资官Cathie Wood凭借ARK Innovation取得了令人惊叹的业绩——根据FactSet的数据，过去一年增长了229%。与此同时，景顺QQQ信托（以纳斯达克100指数为基准）上涨了78%。自2014年10月成立以来，ARK Innovation的年化收益为34.6%，而QQQ的年化收益为20.6%。</blockquote></p><p> At the same time, ARK Innovation has been extremely volatile and risky, making an apples-to-apples comparison with the Nasdaq 100 misleading. As measured by the standard deviation of monthly returns, ARK Innovation has been 73% more volatile than QQQ. That’s really saying something, since QQQ is itself more volatile than broad market indices such as the S&amp;P 500.</p><p><blockquote>与此同时，方舟创新的波动性和风险极高，与纳斯达克100指数进行同类比较具有误导性。以月回报率的标准差衡量，ARK Innovation的波动性比QQQ高出73%。这确实说明了一些问题，因为QQQ本身比标普500等大盘指数波动性更大。</blockquote></p><p> One approach statisticians use to create an apples-to-apples comparison is with a metric known as the Sharpe Ratio, invented by William Sharpe, the 1990 Nobel laureate in economics. It is the ratio of a fund’s average returns to the standard deviation of those returns. The Sharpe Ratio of ARK Innovation’s monthly returns since 2014 is almost precisely the same as the QQQ’s.</p><p><blockquote>统计学家用来进行同类比较的一种方法是使用一种称为夏普比率的指标，该指标由1990年诺贝尔经济学奖获得者威廉·夏普发明。它是基金的平均回报与这些回报的标准差的比率。ARK Innovation自2014年以来每月回报的夏普比率几乎与QQQ完全相同。</blockquote></p><p> If you’re like some of my clients, your reaction is not to care about the Sharpe Ratio. “You can’t take the Sharpe Ratio to the bank,” you in effect tell me. It’s raw performance that counts, and on that basis there’s no doubt that the ARKK did far better.</p><p><blockquote>如果你像我的一些客户一样，你的反应是不关心夏普比率。“你不能把夏普比率带到银行，”你实际上是在告诉我。重要的是原始性能，在此基础上，毫无疑问ARKK的表现要好得多。</blockquote></p><p> This reaction is confused, however. In fact you can take the Sharpe Ratio to the bank. If you had been willing to incur the ARK Innovation’s increased volatility, you could have made just as much by leveraging an investment in the QQQ. That is, you would have made just as much by increasing your portfolio allocation to QQQ, or by buying it on sufficient margin. This is illustrated in the chart below:</p><p><blockquote>然而，这种反应令人困惑。事实上，你可以把夏普比率拿到银行。如果你愿意承受方舟创新增加的波动性，你可以通过投资QQQ来赚同样多的钱。也就是说，通过增加QQQ的投资组合配置，或者以足够的保证金购买，您可以赚到同样多的钱。如下图所示：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/13b81e9f1962e464faeb2d45cdd0e5f9\" tg-width=\"1260\" tg-height=\"849\"></p><p><blockquote></blockquote></p><p> The Sharpe Ratio is not the only method that statisticians employ for measuring adviser performance on a level playing field, but other widely used approaches reach the same conclusion. Perhaps the best known, at least in academic circles, is the Fama-French factor model, named for University of Chicago finance professor Eugene Fama (the 2013 Nobel laureate in economics) and Dartmouth College professor Ken French. Their model involves an econometric test to see if a mutual fund’s return is significantly better than a combination of index funds benchmarked to factors such as small-cap, growth, and momentum.</p><p><blockquote>夏普比率并不是统计学家在公平竞争环境中衡量顾问表现的唯一方法，但其他广泛使用的方法也得出了相同的结论。也许最著名的，至少在学术界，是以芝加哥大学金融学教授尤金·法玛（2013年诺贝尔经济学奖得主）和达特茅斯学院教授肯·弗伦奇的名字命名的法玛-弗伦奇因子模型。他们的模型涉及计量经济学测试，以了解共同基金的回报是否明显优于以小盘股、增长和动量等因素为基准的指数基金组合。</blockquote></p><p> The answer for ARK Innovation is “no” — an overweight allocation to a small-cap growth fund would have produced the same overall return since November 2014.</p><p><blockquote>ARK Innovation的答案是“不”——自2014年11月以来，跑赢大盘对小盘成长基金的配置将产生相同的整体回报。</blockquote></p><p> <b>Luck versus skill</b></p><p><blockquote><b>运气与技巧</b></blockquote></p><p> Note carefully that these statistical tests do not prove that ARK Innovation’s performance is due solely to luck. Instead, those tests tell us that we cannot conclude that its performance was not due to luck. In this case, the double negative is not the same as the positive; this is a subtle, but important, difference.</p><p><blockquote>仔细注意，这些统计测试并不能证明方舟创新的表现完全是运气使然。相反，这些测试告诉我们，我们不能断定它的表现不是由于运气。在这种情况下，双重否定并不等同于肯定；这是一个微妙但重要的区别。</blockquote></p><p> This goes to show just how difficult it is to prove that an investment manager has genuine market-beating ability. If beating an index fund by more than 10 percentage points annualized over a 6-plus-year period is not enough, then what is? (An email to ARK Investment Management requesting comment was not immediately answered.)</p><p><blockquote>这表明，证明一位投资经理具有真正的跑赢市场的能力是多么困难。如果在6年多的时间里年化指数基金超过10个百分点还不够，那么还有什么呢？（发送给方舟投资管理公司请求置评的电子邮件没有立即得到回复。）</blockquote></p><p> The answer: Satisfying traditional standards of statistical significance requires beating the market by a larger amount over a much longer period.</p><p><blockquote>答案是：满足统计意义的传统标准需要在更长的时间内以更大的幅度击败市场。</blockquote></p><p> An example of a fund that does jump over this much-higher hurdle is Renaissance Technologies’ Medallion Fund, a hedge fund that has produced an incredible 39% annualized return over the 33 calendar years through 2020, versus “just” 11% annualized for an index fund. Bradford Cornell, an emeritus finance professor at UCLA, told me in an interview that it is impossible to attribute that fund’s outperformance to mere luck. (Unfortunately, this fund is only available to current and former partners at Renaissance Technologies.)</p><p><blockquote>确实跨越这一更高障碍的基金的一个例子是Renaissance Technologies的Medallion基金，该对冲基金在截至2020年的33个日历年中产生了令人难以置信的39%的年化回报率，而“仅”为11%指数基金。加州大学洛杉矶分校名誉金融学教授布拉德福德·康奈尔在接受采访时告诉我，不可能将该基金的优异表现仅仅归因于运气。（不幸的是，该基金仅适用于Renaissance Technologies的现任和前任合作伙伴。）</blockquote></p><p> In the meantime, it’s too early to render anything close to a final verdict on ARK Innovation’s stunning performance. Its performance over the next several years may prove to be good enough to eventually satisfy traditional standards of statistical significance. Until then we can’t be sure. This is yet another reason why index funds are the default investment of choice.</p><p><blockquote>与此同时，现在对方舟创新的惊人表现做出任何接近最终结论还为时过早。它在未来几年的表现可能会被证明足够好，最终满足传统的统计意义标准。在那之前我们不能确定。这也是指数基金成为默认投资选择的另一个原因。</blockquote></p><p></p>","source":"market_watch","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>Jury out on whether ARK Innovation returns are due to Cathie Wood’s skill or luck<blockquote>方舟创新的回报是由于凯西·伍德的技能还是运气还没有定论</blockquote></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\">\nJury out on whether ARK Innovation returns are due to Cathie Wood’s skill or luck<blockquote>方舟创新的回报是由于凯西·伍德的技能还是运气还没有定论</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-03-23 21:23</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Statistical scrutiny brings this high-flying ETF down to earth</p><p><blockquote>统计审查让这只飞速发展的ETF脚踏实地</blockquote></p><p> You could have performed as well as the high-flying ARK Innovation ETF by investing in the Nasdaq 100 Index.</p><p><blockquote>通过投资纳斯达克100指数，您本可以表现得与飞速发展的ARK Innovation ETF一样好。</blockquote></p><p> I know that seems hard to believe, given the stunning performance chief investment officer Cathie Wood has produced with ARK Innovation— a 229% gain over the past year, according to FactSet. Meanwhile, the Invesco QQQ Trust&nbsp;(which is benchmarked to the Nasdaq 100), gained 78%. Since its creation in October 2014, ARK Innovation has produced an annualized gain of 34.6%, versus 20.6% for the QQQ.</p><p><blockquote>我知道这似乎很难相信，因为首席投资官Cathie Wood凭借ARK Innovation取得了令人惊叹的业绩——根据FactSet的数据，过去一年增长了229%。与此同时，景顺QQQ信托（以纳斯达克100指数为基准）上涨了78%。自2014年10月成立以来，ARK Innovation的年化收益为34.6%，而QQQ的年化收益为20.6%。</blockquote></p><p> At the same time, ARK Innovation has been extremely volatile and risky, making an apples-to-apples comparison with the Nasdaq 100 misleading. As measured by the standard deviation of monthly returns, ARK Innovation has been 73% more volatile than QQQ. That’s really saying something, since QQQ is itself more volatile than broad market indices such as the S&amp;P 500.</p><p><blockquote>与此同时，方舟创新的波动性和风险极高，与纳斯达克100指数进行同类比较具有误导性。以月回报率的标准差衡量，ARK Innovation的波动性比QQQ高出73%。这确实说明了一些问题，因为QQQ本身比标普500等大盘指数波动性更大。</blockquote></p><p> One approach statisticians use to create an apples-to-apples comparison is with a metric known as the Sharpe Ratio, invented by William Sharpe, the 1990 Nobel laureate in economics. It is the ratio of a fund’s average returns to the standard deviation of those returns. The Sharpe Ratio of ARK Innovation’s monthly returns since 2014 is almost precisely the same as the QQQ’s.</p><p><blockquote>统计学家用来进行同类比较的一种方法是使用一种称为夏普比率的指标，该指标由1990年诺贝尔经济学奖获得者威廉·夏普发明。它是基金的平均回报与这些回报的标准差的比率。ARK Innovation自2014年以来每月回报的夏普比率几乎与QQQ完全相同。</blockquote></p><p> If you’re like some of my clients, your reaction is not to care about the Sharpe Ratio. “You can’t take the Sharpe Ratio to the bank,” you in effect tell me. It’s raw performance that counts, and on that basis there’s no doubt that the ARKK did far better.</p><p><blockquote>如果你像我的一些客户一样，你的反应是不关心夏普比率。“你不能把夏普比率带到银行，”你实际上是在告诉我。重要的是原始性能，在此基础上，毫无疑问ARKK的表现要好得多。</blockquote></p><p> This reaction is confused, however. In fact you can take the Sharpe Ratio to the bank. If you had been willing to incur the ARK Innovation’s increased volatility, you could have made just as much by leveraging an investment in the QQQ. That is, you would have made just as much by increasing your portfolio allocation to QQQ, or by buying it on sufficient margin. This is illustrated in the chart below:</p><p><blockquote>然而，这种反应令人困惑。事实上，你可以把夏普比率拿到银行。如果你愿意承受方舟创新增加的波动性，你可以通过投资QQQ来赚同样多的钱。也就是说，通过增加QQQ的投资组合配置，或者以足够的保证金购买，您可以赚到同样多的钱。如下图所示：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/13b81e9f1962e464faeb2d45cdd0e5f9\" tg-width=\"1260\" tg-height=\"849\"></p><p><blockquote></blockquote></p><p> The Sharpe Ratio is not the only method that statisticians employ for measuring adviser performance on a level playing field, but other widely used approaches reach the same conclusion. Perhaps the best known, at least in academic circles, is the Fama-French factor model, named for University of Chicago finance professor Eugene Fama (the 2013 Nobel laureate in economics) and Dartmouth College professor Ken French. Their model involves an econometric test to see if a mutual fund’s return is significantly better than a combination of index funds benchmarked to factors such as small-cap, growth, and momentum.</p><p><blockquote>夏普比率并不是统计学家在公平竞争环境中衡量顾问表现的唯一方法，但其他广泛使用的方法也得出了相同的结论。也许最著名的，至少在学术界，是以芝加哥大学金融学教授尤金·法玛（2013年诺贝尔经济学奖得主）和达特茅斯学院教授肯·弗伦奇的名字命名的法玛-弗伦奇因子模型。他们的模型涉及计量经济学测试，以了解共同基金的回报是否明显优于以小盘股、增长和动量等因素为基准的指数基金组合。</blockquote></p><p> The answer for ARK Innovation is “no” — an overweight allocation to a small-cap growth fund would have produced the same overall return since November 2014.</p><p><blockquote>ARK Innovation的答案是“不”——自2014年11月以来，跑赢大盘对小盘成长基金的配置将产生相同的整体回报。</blockquote></p><p> <b>Luck versus skill</b></p><p><blockquote><b>运气与技巧</b></blockquote></p><p> Note carefully that these statistical tests do not prove that ARK Innovation’s performance is due solely to luck. Instead, those tests tell us that we cannot conclude that its performance was not due to luck. In this case, the double negative is not the same as the positive; this is a subtle, but important, difference.</p><p><blockquote>仔细注意，这些统计测试并不能证明方舟创新的表现完全是运气使然。相反，这些测试告诉我们，我们不能断定它的表现不是由于运气。在这种情况下，双重否定并不等同于肯定；这是一个微妙但重要的区别。</blockquote></p><p> This goes to show just how difficult it is to prove that an investment manager has genuine market-beating ability. If beating an index fund by more than 10 percentage points annualized over a 6-plus-year period is not enough, then what is? (An email to ARK Investment Management requesting comment was not immediately answered.)</p><p><blockquote>这表明，证明一位投资经理具有真正的跑赢市场的能力是多么困难。如果在6年多的时间里年化指数基金超过10个百分点还不够，那么还有什么呢？（发送给方舟投资管理公司请求置评的电子邮件没有立即得到回复。）</blockquote></p><p> The answer: Satisfying traditional standards of statistical significance requires beating the market by a larger amount over a much longer period.</p><p><blockquote>答案是：满足统计意义的传统标准需要在更长的时间内以更大的幅度击败市场。</blockquote></p><p> An example of a fund that does jump over this much-higher hurdle is Renaissance Technologies’ Medallion Fund, a hedge fund that has produced an incredible 39% annualized return over the 33 calendar years through 2020, versus “just” 11% annualized for an index fund. Bradford Cornell, an emeritus finance professor at UCLA, told me in an interview that it is impossible to attribute that fund’s outperformance to mere luck. (Unfortunately, this fund is only available to current and former partners at Renaissance Technologies.)</p><p><blockquote>确实跨越这一更高障碍的基金的一个例子是Renaissance Technologies的Medallion基金，该对冲基金在截至2020年的33个日历年中产生了令人难以置信的39%的年化回报率，而“仅”为11%指数基金。加州大学洛杉矶分校名誉金融学教授布拉德福德·康奈尔在接受采访时告诉我，不可能将该基金的优异表现仅仅归因于运气。（不幸的是，该基金仅适用于Renaissance Technologies的现任和前任合作伙伴。）</blockquote></p><p> In the meantime, it’s too early to render anything close to a final verdict on ARK Innovation’s stunning performance. Its performance over the next several years may prove to be good enough to eventually satisfy traditional standards of statistical significance. Until then we can’t be sure. This is yet another reason why index funds are the default investment of choice.</p><p><blockquote>与此同时，现在对方舟创新的惊人表现做出任何接近最终结论还为时过早。它在未来几年的表现可能会被证明足够好，最终满足传统的统计意义标准。在那之前我们不能确定。这也是指数基金成为默认投资选择的另一个原因。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/the-jury-is-out-on-whether-ark-innovations-red-hot-returns-are-due-to-cathie-woods-skill-or-luck-11616460092?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ARKF":"ARK Fintech Innovation ETF","ARKQ":"ARK Autonomous Technology & Robotics ETF","TSLA":"特斯拉","QQQ":"纳指100ETF","ARKK":"ARK Innovation ETF"},"source_url":"https://www.marketwatch.com/story/the-jury-is-out-on-whether-ark-innovations-red-hot-returns-are-due-to-cathie-woods-skill-or-luck-11616460092?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1137063642","content_text":"Statistical scrutiny brings this high-flying ETF down to earth\nYou could have performed as well as the high-flying ARK Innovation ETF by investing in the Nasdaq 100 Index.\nI know that seems hard to believe, given the stunning performance chief investment officer Cathie Wood has produced with ARK Innovation— a 229% gain over the past year, according to FactSet. Meanwhile, the Invesco QQQ Trust (which is benchmarked to the Nasdaq 100), gained 78%. Since its creation in October 2014, ARK Innovation has produced an annualized gain of 34.6%, versus 20.6% for the QQQ.\nAt the same time, ARK Innovation has been extremely volatile and risky, making an apples-to-apples comparison with the Nasdaq 100 misleading. As measured by the standard deviation of monthly returns, ARK Innovation has been 73% more volatile than QQQ. That’s really saying something, since QQQ is itself more volatile than broad market indices such as the S&P 500.\nOne approach statisticians use to create an apples-to-apples comparison is with a metric known as the Sharpe Ratio, invented by William Sharpe, the 1990 Nobel laureate in economics. It is the ratio of a fund’s average returns to the standard deviation of those returns. The Sharpe Ratio of ARK Innovation’s monthly returns since 2014 is almost precisely the same as the QQQ’s.\nIf you’re like some of my clients, your reaction is not to care about the Sharpe Ratio. “You can’t take the Sharpe Ratio to the bank,” you in effect tell me. It’s raw performance that counts, and on that basis there’s no doubt that the ARKK did far better.\nThis reaction is confused, however. In fact you can take the Sharpe Ratio to the bank. If you had been willing to incur the ARK Innovation’s increased volatility, you could have made just as much by leveraging an investment in the QQQ. That is, you would have made just as much by increasing your portfolio allocation to QQQ, or by buying it on sufficient margin. This is illustrated in the chart below:\n\nThe Sharpe Ratio is not the only method that statisticians employ for measuring adviser performance on a level playing field, but other widely used approaches reach the same conclusion. Perhaps the best known, at least in academic circles, is the Fama-French factor model, named for University of Chicago finance professor Eugene Fama (the 2013 Nobel laureate in economics) and Dartmouth College professor Ken French. Their model involves an econometric test to see if a mutual fund’s return is significantly better than a combination of index funds benchmarked to factors such as small-cap, growth, and momentum.\nThe answer for ARK Innovation is “no” — an overweight allocation to a small-cap growth fund would have produced the same overall return since November 2014.\nLuck versus skill\nNote carefully that these statistical tests do not prove that ARK Innovation’s performance is due solely to luck. Instead, those tests tell us that we cannot conclude that its performance was not due to luck. In this case, the double negative is not the same as the positive; this is a subtle, but important, difference.\nThis goes to show just how difficult it is to prove that an investment manager has genuine market-beating ability. If beating an index fund by more than 10 percentage points annualized over a 6-plus-year period is not enough, then what is? (An email to ARK Investment Management requesting comment was not immediately answered.)\nThe answer: Satisfying traditional standards of statistical significance requires beating the market by a larger amount over a much longer period.\nAn example of a fund that does jump over this much-higher hurdle is Renaissance Technologies’ Medallion Fund, a hedge fund that has produced an incredible 39% annualized return over the 33 calendar years through 2020, versus “just” 11% annualized for an index fund. Bradford Cornell, an emeritus finance professor at UCLA, told me in an interview that it is impossible to attribute that fund’s outperformance to mere luck. (Unfortunately, this fund is only available to current and former partners at Renaissance Technologies.)\nIn the meantime, it’s too early to render anything close to a final verdict on ARK Innovation’s stunning performance. Its performance over the next several years may prove to be good enough to eventually satisfy traditional standards of statistical significance. Until then we can’t be sure. This is yet another reason why index funds are the default investment of choice.","news_type":1,"symbols_score_info":{"ARKF":0.9,"ARKK":0.9,"ARKQ":0.9,"QQQ":0.9,"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":655,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350402945,"gmtCreate":1616245222987,"gmtModify":1631891768633,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"Just another way to bypass IPO process.","listText":"Just another way to bypass IPO process.","text":"Just another way to bypass IPO process.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350402945","repostId":"1126157111","repostType":4,"isVote":1,"tweetType":1,"viewCount":366,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350406802,"gmtCreate":1616245185206,"gmtModify":1631891768635,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"Yeah, keep stocks overvalued as long as possible","listText":"Yeah, keep stocks overvalued as long as possible","text":"Yeah, keep stocks overvalued as long as possible","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/350406802","repostId":"1117450855","repostType":4,"repost":{"id":"1117450855","kind":"news","pubTimestamp":1616166767,"share":"https://www.laohu8.com/m/news/1117450855?lang=zh_CN&edition=full","pubTime":"2021-03-19 23:12","market":"us","language":"en","title":"Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”继续支持经济</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1117450855","media":"marketwatch","summary":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration o","content":"<p>  <b>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.</b>  Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”</p><p><blockquote><b>美联储主席在《华尔街日报》专栏中表示，前景一片光明，但复苏“远未完成”。</b>美联储主席鲍威尔周五表示，虽然美国经济前景“一片光明”，但复苏“远未完成”。</blockquote></p><p> In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.</p><p><blockquote>在《华尔街日报》发表的一篇专栏文章中，鲍威尔讲述了去年2月他意识到冠状病毒大流行将席卷全国的那一刻。</blockquote></p><p> “The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.</p><p><blockquote>“美国经济面临的危险是严重的。面临的挑战是限制后果的严重程度和持续时间，以避免长期损害，”他说。</blockquote></p><p> Powell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.</p><p><blockquote>鲍威尔和他的同事根据从2008-2009年大衰退的缓慢复苏中吸取的教训，设计了对危机的快速反应，即迅速采取行动可能会更好。</blockquote></p><p> The central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.</p><p><blockquote>央行迅速将政策利率下调至零，并启动了被称为量化宽松的开放式资产购买计划。</blockquote></p><p> With economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.</p><p><blockquote>随着经济学家预测2021年将出现强劲增长，每天都有更多的美国人接种疫苗，金融市场想知道美联储的支持将持续多久。</blockquote></p><p> In the op-ed, Powell said the situation “is much improved.”</p><p><blockquote>鲍威尔在专栏中表示，情况“有了很大改善”。</blockquote></p><p> “But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.</p><p><blockquote>鲍威尔表示：“但复苏远未完成，因此美联储将继续为经济提供所需的支持，只要经济需要。”</blockquote></p><p> “I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.</p><p><blockquote>他说：“我真的相信，我们将从这场危机中变得更强大、更好，就像我们以前经常做的那样。”</blockquote></p><p> On Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.</p><p><blockquote>周三，美联储在最近的政策会议上再次承诺了宽松的货币政策立场，尽管预计今年经济增长将更加强劲，通胀将上升。</blockquote></p><p> The Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.</p><p><blockquote>美联储主席在周五的文章中没有提及通胀前景。华尔街许多人担心，在美联储收回宽松政策立场之前，经济会过热。</blockquote></p><p> Yields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.</p><p><blockquote>10年期国债TMUBMUSD10Y, 1.734%的收益率在年初低于1%后，本周已升至1.73%。</blockquote></p><p> Stocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.</p><p><blockquote>周五股市走低，道琼斯工业平均指数DJIA在早盘交易中下跌187点，-0.71%。</blockquote></p><p></p>","source":"market_watch","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>Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”继续支持经济</blockquote></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\">\nPowell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”继续支持经济</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-03-19 23:12</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.</b>  Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”</p><p><blockquote><b>美联储主席在《华尔街日报》专栏中表示，前景一片光明，但复苏“远未完成”。</b>美联储主席鲍威尔周五表示，虽然美国经济前景“一片光明”，但复苏“远未完成”。</blockquote></p><p> In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.</p><p><blockquote>在《华尔街日报》发表的一篇专栏文章中，鲍威尔讲述了去年2月他意识到冠状病毒大流行将席卷全国的那一刻。</blockquote></p><p> “The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.</p><p><blockquote>“美国经济面临的危险是严重的。面临的挑战是限制后果的严重程度和持续时间，以避免长期损害，”他说。</blockquote></p><p> Powell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.</p><p><blockquote>鲍威尔和他的同事根据从2008-2009年大衰退的缓慢复苏中吸取的教训，设计了对危机的快速反应，即迅速采取行动可能会更好。</blockquote></p><p> The central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.</p><p><blockquote>央行迅速将政策利率下调至零，并启动了被称为量化宽松的开放式资产购买计划。</blockquote></p><p> With economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.</p><p><blockquote>随着经济学家预测2021年将出现强劲增长，每天都有更多的美国人接种疫苗，金融市场想知道美联储的支持将持续多久。</blockquote></p><p> In the op-ed, Powell said the situation “is much improved.”</p><p><blockquote>鲍威尔在专栏中表示，情况“有了很大改善”。</blockquote></p><p> “But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.</p><p><blockquote>鲍威尔表示：“但复苏远未完成，因此美联储将继续为经济提供所需的支持，只要经济需要。”</blockquote></p><p> “I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.</p><p><blockquote>他说：“我真的相信，我们将从这场危机中变得更强大、更好，就像我们以前经常做的那样。”</blockquote></p><p> On Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.</p><p><blockquote>周三，美联储在最近的政策会议上再次承诺了宽松的货币政策立场，尽管预计今年经济增长将更加强劲，通胀将上升。</blockquote></p><p> The Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.</p><p><blockquote>美联储主席在周五的文章中没有提及通胀前景。华尔街许多人担心，在美联储收回宽松政策立场之前，经济会过热。</blockquote></p><p> Yields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.</p><p><blockquote>10年期国债TMUBMUSD10Y, 1.734%的收益率在年初低于1%后，本周已升至1.73%。</blockquote></p><p> Stocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.</p><p><blockquote>周五股市走低，道琼斯工业平均指数DJIA在早盘交易中下跌187点，-0.71%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page\">marketwatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1117450855","content_text":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.\n\nFederal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”\nIn an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.\n“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.\nPowell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.\nThe central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.\nWith economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.\nIn the op-ed, Powell said the situation “is much improved.”\n“But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.\n“I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.\nOn Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.\nThe Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.\nYields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.\nStocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":416,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350408780,"gmtCreate":1616245123840,"gmtModify":1631891768639,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"Just part of consolidation.","listText":"Just part of consolidation.","text":"Just part of consolidation.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350408780","repostId":"1103756496","repostType":4,"isVote":1,"tweetType":1,"viewCount":667,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350318090,"gmtCreate":1616159891510,"gmtModify":1631891768641,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"Rocket to the 🌙<a href=\"https://laohu8.com/S/PLTR\">$PLTR 20210409 20.0 PUT(PLTR)$</a>","listText":"Rocket to the 🌙<a href=\"https://laohu8.com/S/PLTR\">$PLTR 20210409 20.0 PUT(PLTR)$</a>","text":"Rocket to the 🌙$PLTR 20210409 20.0 PUT(PLTR)$","images":[{"img":"https://static.tigerbbs.com/84c635079690974757dc6b19da2eb547","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350318090","isVote":1,"tweetType":1,"viewCount":629,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":326389283,"gmtCreate":1615594796242,"gmtModify":1703491353802,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"Give me weed","listText":"Give me weed","text":"Give me weed","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/326389283","repostId":"1104628946","repostType":4,"repost":{"id":"1104628946","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1615561247,"share":"https://www.laohu8.com/m/news/1104628946?lang=zh_CN&edition=full","pubTime":"2021-03-12 23:00","market":"us","language":"en","title":"Marijuana stocks fall<blockquote>大麻库存下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1104628946","media":"Tiger Newspress","summary":"Tilray Inc down 6%,Aphria,Canopy,Aurora,Sundial Growers and Cronos down 3%.","content":"<p>Tilray&nbsp;Inc&nbsp;down&nbsp;6%,Aphria,Canopy,Aurora,Sundial Growers and Cronos down 3%.</p><p><blockquote>Tilray Inc下跌6%，Aphria、Canopy、Aurora、Sundial Growers和Cronos下跌3%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/78fc26b0f02217c25526a73d40b1f353\" tg-width=\"420\" tg-height=\"414\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></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>Marijuana stocks fall<blockquote>大麻库存下跌</blockquote></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\">\nMarijuana stocks fall<blockquote>大麻库存下跌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-03-12 23:00</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Tilray&nbsp;Inc&nbsp;down&nbsp;6%,Aphria,Canopy,Aurora,Sundial Growers and Cronos down 3%.</p><p><blockquote>Tilray Inc下跌6%，Aphria、Canopy、Aurora、Sundial Growers和Cronos下跌3%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/78fc26b0f02217c25526a73d40b1f353\" tg-width=\"420\" tg-height=\"414\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CRON":"Cronos Group Inc.","SNDL":"SNDL Inc.","ACB":"奥罗拉大麻公司","TLRY":"Tilray Inc.","CGC":"Canopy Growth Corporation","APHA":"Aphria Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104628946","content_text":"Tilray Inc down 6%,Aphria,Canopy,Aurora,Sundial Growers and Cronos down 3%.","news_type":1,"symbols_score_info":{"SNDL":0.9,"TLRY":0.9,"CGC":0.9,"ACB":0.9,"CRON":0.9,"APHA":0.9}},"isVote":1,"tweetType":1,"viewCount":610,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":326389330,"gmtCreate":1615594755620,"gmtModify":1703491352775,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"Support","listText":"Support","text":"Support","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/326389330","repostId":"2118630979","repostType":4,"isVote":1,"tweetType":1,"viewCount":456,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":326049335,"gmtCreate":1615566896927,"gmtModify":1703491133434,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/RIOT\">$Riot Blockchain, Inc.(RIOT)$</a>go BTC","listText":"<a href=\"https://laohu8.com/S/RIOT\">$Riot Blockchain, Inc.(RIOT)$</a>go BTC","text":"$Riot Blockchain, Inc.(RIOT)$go BTC","images":[{"img":"https://static.tigerbbs.com/1562f94bd2b293111e30fcfe9b3c1151","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/326049335","isVote":1,"tweetType":1,"viewCount":610,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"hots":[{"id":897512779,"gmtCreate":1628941054891,"gmtModify":1631890383368,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"Why pay them in dollars, all of them should be paid in doge or Shiba inu","listText":"Why pay them in dollars, all of them should be paid in doge or Shiba inu","text":"Why pay them in dollars, all of them should be paid in doge or Shiba inu","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/897512779","repostId":"2159721520","repostType":2,"repost":{"id":"2159721520","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"T-Reuters","id":"1086160438","head_image":"https://static.tigerbbs.com/a113a995fbbc262262d15a5ce37e7bc5"},"pubTimestamp":1628887162,"share":"https://www.laohu8.com/m/news/2159721520?lang=zh_CN&edition=full","pubTime":"2021-08-14 04:39","market":"us","language":"en","title":"Tesla Inc Says Technoking Of Tesla And CEO, Elon Musk's 2020 Total Compensation Was Nil Versus $23,760 In 2019 - SEC Filing<blockquote>特斯拉公司表示，特斯拉Technoking兼首席执行官Elon Musk 2020年的总薪酬为零，而2019年向SEC提交的文件中为23,760美元</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2159721520","media":"T-Reuters","summary":"Tesla Inc :Tesla Inc Says Technoking Of Tesla And Ceo, Elon Musk'S 2020 Total Compensation Was Nil V","content":"<p><html><body>Tesla Inc <tsla.o>:Tesla Inc Says Technoking Of Tesla And Ceo, Elon Musk'S 2020 Total Compensation Was Nil Versus $23,760 In 2019 - Sec Filing.Tesla Inc Says Master Of Coin And Cfo, Zachary Kirkhorn'S 2020 Total Compensation Was $46.6 Million Versus $21.2 Million In 2019.Further Company Coverage: Tsla.O. ((Reuters.Briefs@Thomsonreuters.Com;)).</tsla.o></p><p><blockquote><html><body>特斯拉公司<tsla.o>：特斯拉公司表示，特斯拉Technoking兼首席执行官Elon Musk 2020年的总薪酬为零，而2019年向Sec提交的文件中为23,760美元。特斯拉公司表示，硬币大师兼首席财务官Zachary Kirkhorn 2020年的总薪酬为4660万美元，而2019年为2120万美元。进一步的公司报道：Tsla.O。（（Reuters.Briefs@Thomsonreuters.Com；））。</tsla.o></body></html></blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></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>Tesla Inc Says Technoking Of Tesla And CEO, Elon Musk's 2020 Total Compensation Was Nil Versus $23,760 In 2019 - SEC Filing<blockquote>特斯拉公司表示，特斯拉Technoking兼首席执行官Elon Musk 2020年的总薪酬为零，而2019年向SEC提交的文件中为23,760美元</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Inc Says Technoking Of Tesla And CEO, Elon Musk's 2020 Total Compensation Was Nil Versus $23,760 In 2019 - SEC Filing<blockquote>特斯拉公司表示，特斯拉Technoking兼首席执行官Elon Musk 2020年的总薪酬为零，而2019年向SEC提交的文件中为23,760美元</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086160438\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a113a995fbbc262262d15a5ce37e7bc5);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">T-Reuters </p>\n<p class=\"h-time smaller\">2021-08-14 04:39</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><body>Tesla Inc <tsla.o>:Tesla Inc Says Technoking Of Tesla And Ceo, Elon Musk'S 2020 Total Compensation Was Nil Versus $23,760 In 2019 - Sec Filing.Tesla Inc Says Master Of Coin And Cfo, Zachary Kirkhorn'S 2020 Total Compensation Was $46.6 Million Versus $21.2 Million In 2019.Further Company Coverage: Tsla.O. ((Reuters.Briefs@Thomsonreuters.Com;)).</tsla.o></p><p><blockquote><html><body>特斯拉公司<tsla.o>：特斯拉公司表示，特斯拉Technoking兼首席执行官Elon Musk 2020年的总薪酬为零，而2019年向Sec提交的文件中为23,760美元。特斯拉公司表示，硬币大师兼首席财务官Zachary Kirkhorn 2020年的总薪酬为4660万美元，而2019年为2120万美元。进一步的公司报道：Tsla.O。（（Reuters.Briefs@Thomsonreuters.Com；））。</tsla.o></body></html></blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SANA":"Sana Biotechnology, Inc.","LHDX":"Lucira Health, Inc.","TSS":"Total System Services","CGEM":"Cullinan Therapeutics","TSLA":"特斯拉","LABP":"Landos Biopharma, Inc."},"source_url":"https://www.trkd.thomsonreuters.com","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2159721520","content_text":"Tesla Inc :Tesla Inc Says Technoking Of Tesla And Ceo, Elon Musk'S 2020 Total Compensation Was Nil Versus $23,760 In 2019 - Sec Filing.Tesla Inc Says Master Of Coin And Cfo, Zachary Kirkhorn'S 2020 Total Compensation Was $46.6 Million Versus $21.2 Million In 2019.Further Company Coverage: Tsla.O. ((Reuters.Briefs@Thomsonreuters.Com;)).","news_type":1,"symbols_score_info":{"TSLA":1,"TSS":1,"SANA":1,"LABP":1,"CGEM":1,"APR":1,"LHDX":1}},"isVote":1,"tweetType":1,"viewCount":1896,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":360984868,"gmtCreate":1613811036255,"gmtModify":1634552127292,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/GME\">$GameStop(GME)$</a>still holding on to support retail","listText":"<a href=\"https://laohu8.com/S/GME\">$GameStop(GME)$</a>still holding on to support retail","text":"$GameStop(GME)$still holding on to support retail","images":[{"img":"https://static.tigerbbs.com/7b6f31567fca88d19b88097192e65329","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/360984868","isVote":1,"tweetType":1,"viewCount":533,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":137475223,"gmtCreate":1622384612462,"gmtModify":1631890383383,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"Travel will not do well","listText":"Travel will not do well","text":"Travel will not do well","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/137475223","repostId":"2138948877","repostType":4,"isVote":1,"tweetType":1,"viewCount":1714,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350406802,"gmtCreate":1616245185206,"gmtModify":1631891768635,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"Yeah, keep stocks overvalued as long as possible","listText":"Yeah, keep stocks overvalued as long as possible","text":"Yeah, keep stocks overvalued as long as possible","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/350406802","repostId":"1117450855","repostType":4,"repost":{"id":"1117450855","kind":"news","pubTimestamp":1616166767,"share":"https://www.laohu8.com/m/news/1117450855?lang=zh_CN&edition=full","pubTime":"2021-03-19 23:12","market":"us","language":"en","title":"Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”继续支持经济</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1117450855","media":"marketwatch","summary":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration o","content":"<p>  <b>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.</b>  Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”</p><p><blockquote><b>美联储主席在《华尔街日报》专栏中表示，前景一片光明，但复苏“远未完成”。</b>美联储主席鲍威尔周五表示，虽然美国经济前景“一片光明”，但复苏“远未完成”。</blockquote></p><p> In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.</p><p><blockquote>在《华尔街日报》发表的一篇专栏文章中，鲍威尔讲述了去年2月他意识到冠状病毒大流行将席卷全国的那一刻。</blockquote></p><p> “The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.</p><p><blockquote>“美国经济面临的危险是严重的。面临的挑战是限制后果的严重程度和持续时间，以避免长期损害，”他说。</blockquote></p><p> Powell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.</p><p><blockquote>鲍威尔和他的同事根据从2008-2009年大衰退的缓慢复苏中吸取的教训，设计了对危机的快速反应，即迅速采取行动可能会更好。</blockquote></p><p> The central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.</p><p><blockquote>央行迅速将政策利率下调至零，并启动了被称为量化宽松的开放式资产购买计划。</blockquote></p><p> With economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.</p><p><blockquote>随着经济学家预测2021年将出现强劲增长，每天都有更多的美国人接种疫苗，金融市场想知道美联储的支持将持续多久。</blockquote></p><p> In the op-ed, Powell said the situation “is much improved.”</p><p><blockquote>鲍威尔在专栏中表示，情况“有了很大改善”。</blockquote></p><p> “But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.</p><p><blockquote>鲍威尔表示：“但复苏远未完成，因此美联储将继续为经济提供所需的支持，只要经济需要。”</blockquote></p><p> “I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.</p><p><blockquote>他说：“我真的相信，我们将从这场危机中变得更强大、更好，就像我们以前经常做的那样。”</blockquote></p><p> On Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.</p><p><blockquote>周三，美联储在最近的政策会议上再次承诺了宽松的货币政策立场，尽管预计今年经济增长将更加强劲，通胀将上升。</blockquote></p><p> The Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.</p><p><blockquote>美联储主席在周五的文章中没有提及通胀前景。华尔街许多人担心，在美联储收回宽松政策立场之前，经济会过热。</blockquote></p><p> Yields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.</p><p><blockquote>10年期国债TMUBMUSD10Y, 1.734%的收益率在年初低于1%后，本周已升至1.73%。</blockquote></p><p> Stocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.</p><p><blockquote>周五股市走低，道琼斯工业平均指数DJIA在早盘交易中下跌187点，-0.71%。</blockquote></p><p></p>","source":"market_watch","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>Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”继续支持经济</blockquote></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\">\nPowell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”继续支持经济</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-03-19 23:12</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.</b>  Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”</p><p><blockquote><b>美联储主席在《华尔街日报》专栏中表示，前景一片光明，但复苏“远未完成”。</b>美联储主席鲍威尔周五表示，虽然美国经济前景“一片光明”，但复苏“远未完成”。</blockquote></p><p> In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.</p><p><blockquote>在《华尔街日报》发表的一篇专栏文章中，鲍威尔讲述了去年2月他意识到冠状病毒大流行将席卷全国的那一刻。</blockquote></p><p> “The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.</p><p><blockquote>“美国经济面临的危险是严重的。面临的挑战是限制后果的严重程度和持续时间，以避免长期损害，”他说。</blockquote></p><p> Powell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.</p><p><blockquote>鲍威尔和他的同事根据从2008-2009年大衰退的缓慢复苏中吸取的教训，设计了对危机的快速反应，即迅速采取行动可能会更好。</blockquote></p><p> The central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.</p><p><blockquote>央行迅速将政策利率下调至零，并启动了被称为量化宽松的开放式资产购买计划。</blockquote></p><p> With economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.</p><p><blockquote>随着经济学家预测2021年将出现强劲增长，每天都有更多的美国人接种疫苗，金融市场想知道美联储的支持将持续多久。</blockquote></p><p> In the op-ed, Powell said the situation “is much improved.”</p><p><blockquote>鲍威尔在专栏中表示，情况“有了很大改善”。</blockquote></p><p> “But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.</p><p><blockquote>鲍威尔表示：“但复苏远未完成，因此美联储将继续为经济提供所需的支持，只要经济需要。”</blockquote></p><p> “I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.</p><p><blockquote>他说：“我真的相信，我们将从这场危机中变得更强大、更好，就像我们以前经常做的那样。”</blockquote></p><p> On Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.</p><p><blockquote>周三，美联储在最近的政策会议上再次承诺了宽松的货币政策立场，尽管预计今年经济增长将更加强劲，通胀将上升。</blockquote></p><p> The Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.</p><p><blockquote>美联储主席在周五的文章中没有提及通胀前景。华尔街许多人担心，在美联储收回宽松政策立场之前，经济会过热。</blockquote></p><p> Yields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.</p><p><blockquote>10年期国债TMUBMUSD10Y, 1.734%的收益率在年初低于1%后，本周已升至1.73%。</blockquote></p><p> Stocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.</p><p><blockquote>周五股市走低，道琼斯工业平均指数DJIA在早盘交易中下跌187点，-0.71%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page\">marketwatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1117450855","content_text":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.\n\nFederal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”\nIn an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.\n“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.\nPowell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.\nThe central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.\nWith economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.\nIn the op-ed, Powell said the situation “is much improved.”\n“But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.\n“I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.\nOn Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.\nThe Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.\nYields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.\nStocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":416,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":326049335,"gmtCreate":1615566896927,"gmtModify":1703491133434,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/RIOT\">$Riot Blockchain, Inc.(RIOT)$</a>go BTC","listText":"<a 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href=\"https://laohu8.com/S/GME\">$GameStop(GME)$</a>diamnd hands apes","text":"$GameStop(GME)$diamnd hands apes","images":[{"img":"https://static.tigerbbs.com/f6a485156136a938f0df49e30b116c56","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/329268845","isVote":1,"tweetType":1,"viewCount":352,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":894723890,"gmtCreate":1628858515710,"gmtModify":1631890383374,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>will apple breaks new high","listText":"<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>will apple breaks new high","text":"$Apple(AAPL)$will apple breaks new high","images":[{"img":"https://static.tigerbbs.com/d71a61212c2d0085c6e48e531ea00c97","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/894723890","isVote":1,"tweetType":1,"viewCount":2703,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":137475713,"gmtCreate":1622384685132,"gmtModify":1631890383381,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"Will plunge on Monday","listText":"Will plunge on Monday","text":"Will plunge on Monday","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/137475713","repostId":"2138765488","repostType":4,"isVote":1,"tweetType":1,"viewCount":2847,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":351290259,"gmtCreate":1616595943571,"gmtModify":1631891768624,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/PDD\">$PDD 20210401 135.0 PUT(PDD)$</a>one day effort","listText":"<a href=\"https://laohu8.com/S/PDD\">$PDD 20210401 135.0 PUT(PDD)$</a>one day effort","text":"$PDD 20210401 135.0 PUT(PDD)$one day 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part of consolidation.","listText":"Just part of consolidation.","text":"Just part of consolidation.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350408780","repostId":"1103756496","repostType":4,"isVote":1,"tweetType":1,"viewCount":667,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":326389283,"gmtCreate":1615594796242,"gmtModify":1703491353802,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"Give me weed","listText":"Give me weed","text":"Give me weed","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/326389283","repostId":"1104628946","repostType":4,"repost":{"id":"1104628946","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1615561247,"share":"https://www.laohu8.com/m/news/1104628946?lang=zh_CN&edition=full","pubTime":"2021-03-12 23:00","market":"us","language":"en","title":"Marijuana stocks fall<blockquote>大麻库存下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1104628946","media":"Tiger Newspress","summary":"Tilray Inc down 6%,Aphria,Canopy,Aurora,Sundial Growers and Cronos down 3%.","content":"<p>Tilray&nbsp;Inc&nbsp;down&nbsp;6%,Aphria,Canopy,Aurora,Sundial Growers and Cronos down 3%.</p><p><blockquote>Tilray Inc下跌6%，Aphria、Canopy、Aurora、Sundial Growers和Cronos下跌3%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/78fc26b0f02217c25526a73d40b1f353\" tg-width=\"420\" tg-height=\"414\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></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>Marijuana stocks fall<blockquote>大麻库存下跌</blockquote></title>\n<style 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23:00</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Tilray&nbsp;Inc&nbsp;down&nbsp;6%,Aphria,Canopy,Aurora,Sundial Growers and Cronos down 3%.</p><p><blockquote>Tilray Inc下跌6%，Aphria、Canopy、Aurora、Sundial Growers和Cronos下跌3%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/78fc26b0f02217c25526a73d40b1f353\" tg-width=\"420\" tg-height=\"414\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CRON":"Cronos Group Inc.","SNDL":"SNDL Inc.","ACB":"奥罗拉大麻公司","TLRY":"Tilray Inc.","CGC":"Canopy Growth Corporation","APHA":"Aphria Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104628946","content_text":"Tilray Inc down 6%,Aphria,Canopy,Aurora,Sundial Growers and Cronos down 3%.","news_type":1,"symbols_score_info":{"SNDL":0.9,"TLRY":0.9,"CGC":0.9,"ACB":0.9,"CRON":0.9,"APHA":0.9}},"isVote":1,"tweetType":1,"viewCount":610,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":367578750,"gmtCreate":1614959271070,"gmtModify":1703483623147,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"Buy more to average down","listText":"Buy more to average down","text":"Buy more to average down","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/367578750","repostId":"1169596583","repostType":4,"repost":{"id":"1169596583","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":1614958557,"share":"https://www.laohu8.com/m/news/1169596583?lang=zh_CN&edition=full","pubTime":"2021-03-05 23:35","market":"us","language":"en","title":"Palantir plunged more than 13%<blockquote>Palantir暴跌超13%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169596583","media":"老虎资讯综合","summary":"(March 5)&nbsp;Palantir plunged more than 13%.","content":"<p>(March 5)&nbsp;Palantir plunged more than 13%.</p><p><blockquote>（3月5日）Palantir暴跌超13%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/13f756ec57cca85c31b6be070941d7c1\" tg-width=\"1059\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></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>Palantir plunged more than 13%<blockquote>Palantir暴跌超13%</blockquote></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; 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plunged more than 13%.</p><p><blockquote>（3月5日）Palantir暴跌超13%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/13f756ec57cca85c31b6be070941d7c1\" tg-width=\"1059\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169596583","content_text":"(March 5) Palantir plunged more than 13%.","news_type":1,"symbols_score_info":{"PLTR":0.9}},"isVote":1,"tweetType":1,"viewCount":851,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":312249256,"gmtCreate":1612158551975,"gmtModify":1703758048532,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"GME AMC!","listText":"GME AMC!","text":"GME AMC!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/312249256","repostId":"1177445475","repostType":4,"isVote":1,"tweetType":1,"viewCount":448,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3527667803686145","authorId":"3527667803686145","name":"社区成长助手","avatar":"https://static.tigerbbs.com/2b7c7106b5c0c8b0037faa67439d898f","crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3527667803686145","idStr":"3527667803686145"},"content":"终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题，可以获得更多曝光哦～如果您想创作优质文章，请查看老虎社区创作指引","text":"终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题，可以获得更多曝光哦～如果您想创作优质文章，请查看老虎社区创作指引","html":"终于等到了您的初发帖[比心][比心]发帖时关联相关股票或者相关话题，可以获得更多曝光哦～如果您想创作优质文章，请查看老虎社区创作指引"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":356373291,"gmtCreate":1616760586713,"gmtModify":1631890383396,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"Good trading bro//<a href=\"https://laohu8.com/U/3554375720188871\">@Hengah</a>: Comment leh","listText":"Good trading bro//<a href=\"https://laohu8.com/U/3554375720188871\">@Hengah</a>: Comment leh","text":"Good trading bro//@Hengah: Comment leh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/356373291","repostId":"2122473630","repostType":4,"repost":{"id":"2122473630","kind":"highlight","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1616751900,"share":"https://www.laohu8.com/m/news/2122473630?lang=zh_CN&edition=full","pubTime":"2021-03-26 17:45","market":"us","language":"en","title":"RLX Technology's quarterly revenue jumps 44.5% QoQ<blockquote>RLX科技季度收入环比增长44.5%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2122473630","media":"Tiger Newspress","summary":"BEIJING, March 26, 2021 /PRNewswire/ -- RLX Technology Inc. (\"RLX Technology\" or the \"Company\") (NYS","content":"<p>BEIJING, March&nbsp;26, 2021 /PRNewswire/ -- RLX Technology Inc. (\"RLX Technology\" or the \"Company\") (NYSE: RLX), a leading branded e-vapor company inChina, today announced its unaudited financial results for the fourth quarter and the fiscal year endedDecember 31, 2020.</p><p><blockquote>北京2021年3月26日电/美通社/--中国领先的品牌电子烟公司RLX科技公司（“RLX科技”或“公司”）（纽约证券交易所代码：RLX）今天公布了第四季度未经审计的财务业绩截至2020年12月31日的季度和财年。</blockquote></p><p><img src=\"https://static.tigerbbs.com/cd48712f2965372dd71b1af347f0ab9c\" tg-width=\"828\" tg-height=\"762\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b><u>Fourth Quarter 2020 Financial Highlights</u></b></p><p><blockquote><b><u>2020年第四季度财务摘要</u></b></blockquote></p><p><ul><li><b>Net revenues</b>wereRMB1,618.5 million(US$248.0 million), representing an increase of 44.5% fromRMB1,120.2 millionin the third quarter of 2020.</li><li><b>Gross margin</b>was 42.9%, compared to 39.1% in the third quarter of 2020.</li><li><b>Net loss</b>wasRMB236.7 million(US$36.3 million), compared with net income ofRMB7.8 millionin the third quarter of 2020.</li><li><b>Non-GAAP net income[1]</b>wasRMB419.3 million(US$64.3 million).</li></ul><table><tbody><tr><td>[1]Non-GAAP net (loss)/income is a non-GAAP financial measure. For more information on the Company's non-GAAP financial measures, please see the section \"Non-GAAP Financial Measures\" and the table captioned \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" set forth at the end of this press release.</p><p><blockquote><ul><li><b>净收入</b>为16.185亿元人民币（2.480亿美元），较2020年第三季度的11.202亿元人民币增长44.5%。</li><li><b>毛利率</b>为42.9%，而2020年第三季度为39.1%。</li><li><b>净亏损</b>为人民币2.367亿元（3630万美元），而2020年第三季度净利润为人民币780万元。</li><li><b>非公认会计准则净利润[1]</b>为人民币4.193亿元（6430万美元）。</li></ul><table><tbody><tr><td>[1]非公认会计准则净（损失）/收入是一项非公认会计准则财务指标。有关公司非GAAP财务指标的更多信息，请参阅本新闻稿末尾的“非GAAP财务指标”部分和标题为“未经审计的GAAP和非GAAP业绩调节表”的表格。</td></tr></tbody></table></blockquote></p><p></td></tr></tbody></table><b><u>Fiscal Year 2020 Financial Highlights</u></b></p><p><blockquote><b><u>2020财年财务摘要</u></b></blockquote></p><p><ul><li><b>Net revenues</b>wereRMB3,819.7 million(US$585.4 million) in fiscal year 2020, representing an increase of 146.5% fromRMB1,549.4 millionin the prior year.</li><li><b>Gross margin</b>was 40.0% in fiscal year 2020, compared to 37.5% in the prior year.</li><li><b>Net loss</b>wasRMB128.1 million(US$19.6 million) in fiscal year 2020, compared with net income ofRMB47.7 millionin the prior year.</li><li><b>Non-GAAP net income</b>wasRMB801.0 million(US$122.8 million).</li></ul>\"We are pleased to report financial and operational results for the fourth quarter of 2020. Throughout 2020, despite challenges stemming from COVID-19, our business remained resilient, and our management team maintained our focus on building and strengthening RELX as a trusted brand for adult smokers,\" said Ms.Ying (Kate) Wang, Co-founder, Chairperson of the Board of Directors and Chief Executive Officer of RLX Technology. \"We continue to consistently uphold and practice our ethical principles, including facilitating the prevention of underage use of our products through our industry pioneering<i>Guardian Program,</i>introducing effective age-verification practices to the industry. This fourth quarter also witnessed the first anniversary of the launch of our<i>Sunflower System</i>, our&nbsp;technology-driven underage-access-prevention system. In addition, we continued to advance our<i>Golden Shield Program</i>in cooperation with the public, media and local authorities to combat sales of counterfeit products.\"</p><p><blockquote><ul><li><b>净收入</b>2020财年为人民币38.197亿元（5.854亿美元），较上年的人民币15.494亿元增长146.5%。</li><li><b>毛利率</b>2020财年为40.0%，而上年为37.5%。</li><li><b>净亏损</b>2020财年净利润为人民币1.281亿元（1960万美元），而上一年净利润为人民币4770万元。</li><li><b>非公认会计准则净利润</b>为人民币8.01亿元（1.228亿美元）。</li></ul>“我们很高兴报告2020年第四季度的财务和运营业绩。在整个2020年，尽管面临COVID-19带来的挑战，我们的业务仍然保持弹性，我们的管理团队仍然专注于建立和加强悦刻作为值得信赖的品牌对于成年吸烟者来说，”RLX科技联合创始人、董事会主席兼首席执行官王英女士表示。“我们将继续坚持和实践我们的道德原则，包括通过我们的行业先锋促进防止未成年人使用我们的产品。”<i>守护者计划，</i>向行业介绍有效的年龄验证实践。第四季度亦见证了我们推出一周年<i>向日葵系统</i>，我们的技术驱动的未成年人访问预防系统。此外，我们持续推进<i>金盾计划</i>与公众、媒体和地方当局合作，打击假冒产品的销售。”</blockquote></p><p>\"Looking forward, we plan to further solidify our leadership as we endeavor to continue investment&nbsp;in scientific research, enhance our technology and product development, strengthen our distribution and retail network, bolster supply chain and production capabilities, and extend our global capabilities. These strategic initiatives are designed to support our growth over the long-term,\" Ms. Wang concluded.</p><p><blockquote>“展望未来，我们计划进一步巩固我们的领导地位，努力继续投资于科学研究，增强我们的技术和产品开发，加强我们的分销和零售网络，增强我们的供应链和生产能力，并扩展我们的全球能力。这些战略举措旨在支持我们的长期增长，”王女士总结道。</blockquote></p><p><b><u>Closing of Initial Public Offering (\"IPO\")</u></b></p><p><blockquote><b><u>首次公开发售（“首次公开发售”）结束</u></b></blockquote></p><p>OnJanuary 26, 2021, the Company completed the closing of its initial public offering of 133,975,000 American depositary shares (\"ADSs\"), each representing one Class A ordinary share. The number of ADSs issued at closing included 17,475,000 ADSs issued pursuant to the exercise in full of over-allotment option by the underwriters. At a price to the public ofUS$12.00per ADS, the total offering size wasUS$1,607.7 million.</p><p><blockquote>2021年1月26日，公司完成了133,975,000股美国存托股份（“ADS”）的首次公开发行，每股代表一股A类普通股。于交割时已发行的美国存讬股数目包括根据包销商悉数行使超额配股权而发行的17,475,000股美国存讬股。以每股美国存托凭证12.00美元的公开发行价格计算，总发行规模为16.077亿美元。</blockquote></p><p><b><u>Fourth Quarter 2020 Unaudited Financial Results</u></b></p><p><blockquote><b><u>2020年第四季度未经审计的财务业绩</u></b></blockquote></p><p><b>Net revenues</b>&nbsp;increased by 44.5% toRMB1,618.5 million(US$248.0 million) in the fourth quarter of 2020 fromRMB1,120.2 millionin the third quarter of 2020. The increase was primarily due to an increase in net revenues from sales to offline distributors, which was mainly attributable to the expansion of the Company's distribution and retail network.</p><p><blockquote><b>净收入</b>从2020年第三季度的人民币11.202亿元增长44.5%至2020年第四季度的人民币16.185亿元（2.480亿美元）。该增加主要是由于向线下分销商销售的净收入增加，这主要归因于公司分销和零售网络的扩张。</blockquote></p><p><b>Gross profit</b>&nbsp;increased by 58.6% to&nbsp;RMB694.1 million (US$106.4 million) in the fourth quarter of 2020 fromRMB437.5 millionin the third quarter of 2020.</p><p><blockquote><b>毛利</b>从2020年第三季度的人民币4.375亿元增长58.6%至2020年第四季度的人民币6.941亿元（1.064亿美元）。</blockquote></p><p><b>Gross margin</b>&nbsp;increased to 42.9% in the fourth quarter of 2020, compared to 39.1% in the third quarter of 2020.</p><p><blockquote><b>毛利率</b>2020年第四季度增至42.9%，而2020年第三季度为39.1%。</blockquote></p><p><b>Operating expenses</b>&nbsp;wereRMB852.6 million(US$130.7 million) in the fourth quarter of 2020, representing an increase of 124.4% fromRMB380.0&nbsp;million in the third quarter of 2020.</p><p><blockquote><b>营业费用</b>2020年第四季度为8.526亿元人民币（1.307亿美元），较2020年第三季度的3.80亿元人民币增长124.4%。</blockquote></p><p><i>Selling expenses</i>increased by 127.0% to&nbsp;RMB196.7 million (US$30.1 million) in the fourth quarter of 2020 fromRMB86.7 millionin the third quarter of 2020. The increase was mainly driven by (i) an increase in share-based compensation expenses, and (ii) an increase in branding material expenses.</p><p><blockquote><i>销售费用</i>2020年第四季度的人民币1.967亿元，较2020年第三季度的人民币8,670万元增长127.0%至人民币1.967亿元（3,010万美元）。该增加主要由于(i)以股份为基础的薪酬开支增加及(ii)品牌材料开支增加所致。</blockquote></p><p></p><p><i>General and administrative expenses</i>&nbsp;increased by 75.4% toRMB447.0 million(US$68.5 million) in the fourth quarter of 2020 fromRMB254.8 millionin the third quarter of 2020. The increase wasprimarilydue to (i) an increase in share-based compensation expenses, and (ii) an increase in professional service fees.</p><p><blockquote><i>一般及行政开支</i>从2020年第三季度的人民币2.548亿元增长75.4%至2020年第四季度的人民币4.470亿元（6850万美元）。增加的主要原因是（i）以股份为基础的薪酬开支增加，及（ii）专业服务费增加。</blockquote></p><p><i>Research and development expenses</i>increased by 441.9% to&nbsp;RMB208.9 million (US$32.0 million) in the fourth quarter of 2020 fromRMB38.5 millionin the third quarter of 2020. The increase wasprimarilydriven by (i) an increase in share-based compensation expenses, and (ii) an increase in software and technical service expenses.</p><p><blockquote><i>研发费用</i>从2020年第三季度的人民币3850万元增长441.9%至2020年第四季度的人民币2.089亿元（3200万美元）。这一增长主要是由于(i)以股份为基础的薪酬费用增加，以及(ii)软件和技术服务费用增加。</blockquote></p><p>Share-based compensation expenses recognized in selling expenses, general and administrative expenses and research and development expenses in total wereRMB656.1&nbsp;million (US$100.6&nbsp;million) in the fourth quarter of 2020 andRMB238.2&nbsp;million in the third quarter of 2020. The increase was primarily due to the increase in fair value of ordinary shares of Relx Inc.</p><p><blockquote>2020年第四季度，在销售费用、一般和管理费用以及研发费用中确认的股权激励费用总计为人民币6.561亿元（1.006亿美元），2020年第三季度为人民币2.382亿元。该增加主要是由于Relx Inc.普通股公允价值增加。</blockquote></p><p><b>Loss from operations</b>&nbsp;wasRMB158.5&nbsp;million (US$24.3&nbsp;million) in the fourth quarter of 2020, compared with income from operations ofRMB57.5 millionin the third quarter of 2020.</p><p><blockquote><b>经营亏损</b>2020年第四季度营业收入为人民币1.585亿元（2430万美元），而2020年第三季度营业收入为人民币5750万元。</blockquote></p><p><b>Income tax expense</b>&nbsp;wasRMB110.6&nbsp;million (US$17.0&nbsp;million) in the fourth quarter of 2020, compared with income tax expense ofRMB77.3 millionin the third quarter of 2020, primarily due to an increase in taxable income.</p><p><blockquote><b>所得税费用</b>2020年第四季度所得税费用为人民币1.106亿元（1700万美元），而2020年第三季度所得税费用为人民币7730万元，主要是由于应税收入增加。</blockquote></p><p><b>Net loss</b>&nbsp;wasRMB236.7&nbsp;million (US$36.3&nbsp;million) in the fourth&nbsp;quarter of 2020, compared with net income ofRMB7.8 millionin the third quarter of 2020.</p><p><blockquote><b>净亏损</b>2020年第四季度净利润为人民币2.367亿元（3630万美元），而2020年第三季度净利润为人民币780万元。</blockquote></p><p><b>Non-GAAP&nbsp;net income</b>wasRMB419.3 million(US$64.3&nbsp;million) in the fourth&nbsp;quarter of 2020.</p><p><blockquote><b>非公认会计准则净利润</b>2020年第四季度为4.193亿元人民币（6430万美元）。</blockquote></p><p><b>Basic and diluted net loss per American depositary share (\"ADS\")</b>&nbsp;were bothRMB0.165(US$0.025)in the fourth quarter of 2020, compared to basic and diluted net income per ADS ofRMB0.005in the third quarter of 2020.</p><p><blockquote><b>每股美国存托股份（“美国存托股份”）基本及摊薄净亏损</b>2020年第四季度每股美国存托凭证的基本和摊薄净利润均为人民币0.165元（0.025美元），而2020年第三季度每股美国存托凭证的基本和摊薄净利润为人民币0.005元。</blockquote></p><p><b>Non-GAAP basic and diluted netincome&nbsp;per ADS[2]</b>were bothRMB0.292(US$0.045)in the fourth quarter of 2020, compared toRMB0.171in the third quarter of 2020.</p><p><blockquote><b>非GAAP每股美国存托凭证基本和摊薄净收入[2]</b>2020年第四季度均为人民币0.292元（0.045美元），而2020年第三季度为人民币0.171元。</blockquote></p><p><table><tbody><tr><td>[2]Non-GAAP basic and diluted net (loss)/income per ADS is a non-GAAP financial measure. For more information on the Company's non-GAAP financial measures, please see the section \"Non-GAAP Financial Measures\" and the table captioned \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" set forth at the end of this press release.</p><p><blockquote><table><tbody><tr><td>[2]非公认会计原则每股美国存托凭证基本和摊薄净（亏损）/收入是一项非公认会计原则财务指标。有关公司非GAAP财务指标的更多信息，请参阅本新闻稿末尾的“非GAAP财务指标”部分和标题为“未经审计的GAAP和非GAAP业绩调节表”的表格。</td></tr></tbody></table></blockquote></p><p></td></tr></tbody></table><b><u>Fiscal Year 2020 Unaudited Financial Results</u></b></p><p><blockquote><b><u>2020财年未经审计的财务业绩</u></b></blockquote></p><p><b>Net revenues</b>&nbsp;increased by 146.5% to&nbsp;RMB3,819.7&nbsp;million (US$585.4 million) in fiscal year 2020 fromRMB1,549.4&nbsp;million in the prior year. The increase was primary due to an increase in net revenues from sales to offline distributors.</p><p><blockquote><b>净收入</b>2020财年的人民币38.197亿元（5.854亿美元）由上年的人民币15.494亿元增长146.5%至人民币38.197亿元（5.854亿美元）。该增长主要是由于向线下分销商销售的净收入增加所致。</blockquote></p><p><b>Gross profit</b>&nbsp;increased by 162.9% to&nbsp;RMB1,527.6 million (US$234.1 million) in fiscal year 2020 fromRMB580.9 millionin the prior year.</p><p><blockquote><b>毛利</b>2020财年的人民币15.276亿元（2.341亿美元）由上年的人民币5.809亿元增长162.9%至人民币15.276亿元（2.341亿美元）。</blockquote></p><p><b>Gross margin</b>&nbsp;was 40.0% in the fiscal year 2020, compared to 37.5% in the prior year.</p><p><blockquote><b>毛利率</b>2020财年为40.0%，而上年为37.5%。</blockquote></p><p><b>Operating expenses</b>&nbsp;wereRMB1,514.4 million(US$232.1 million) in fiscal year 2020, representing an increase of 188.7% fromRMB524.6&nbsp;million in the prior year.</p><p><blockquote><b>营业费用</b>2020财年为15.144亿元人民币（2.321亿美元），较上年的5.246亿元人民币增长188.7%。</blockquote></p><p><i>Selling expenses</i>increased by 23.3% toRMB443.2 million(US$67.9 million) in fiscal year 2020 fromRMB359.4 millionin the prior year. The increase was&nbsp;primarilydue to (i)&nbsp;an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's selling personnel, partially offset by a decrease in e-commerce platform service expenses as the Company closed its stores on e-commerce platforms and ceased collaboration with e-commerce platform distributors in response to theOctober 2019Announcement.</p><p><blockquote><i>销售费用</i>2020财年的收入从上年的3.594亿元人民币增长23.3%至4.432亿元人民币（6790万美元）。这一增长主要是由于（i）以股份为基础的薪酬费用增加，以及（ii）公司销售人员的工资和福利增加，但部分被公司关闭电商平台服务费用减少所抵消。2019年10月的公告，并停止与电商平台分销商的合作。</blockquote></p><p><i>General and administrative expenses</i>&nbsp;increased by 479.5% toRMB772.0 million(US$118.3 million) in fiscal year 2020 fromRMB133.2 millionin the prior year. The increase was&nbsp;primarilyattributable to (i) an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's general and administrative personnel.</p><p><blockquote><i>一般及行政开支</i>2020财年的收入从上年的人民币1.332亿元增长479.5%至人民币7.72亿元（1.183亿美元）。增加的主要原因是（i）以股份为基础的薪酬费用增加，以及（ii）公司一般和行政人员的工资和福利增加。</blockquote></p><p><i>Research and development expenses</i>increased by 837.2% toRMB299.3 million(US$45.9 million) in fiscal year 2020 fromRMB31.9 millionin the prior year. The increase was&nbsp;primarilydue to (i) an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's research and development personnel.</p><p><blockquote><i>研发费用</i>2020财年的收入从上一年的人民币3,190万元增长837.2%至人民币2.993亿元（4,590万美元）。增加的主要原因是（i）以股份为基础的薪酬费用增加，以及（ii）公司研发人员的工资和福利增加。</blockquote></p><p>Share-based compensation expenses recognized in selling expenses, general and administrative expenses and research and development expenses in total wereRMB929.1 million(US$142.4 million) in fiscal year 2020 andRMB52.7 millionin the prior year, primarily due to the increase in fair value of ordinary shares of Relx Inc.</p><p><blockquote>2020财年，销售费用、一般及管理费用以及研发费用中确认的股份补偿费用总额为人民币9.291亿元（1.424亿美元），上一年为人民币5270万元，主要是由于Relx Inc.普通股公允价值增加。</blockquote></p><p></p><p><b>Income from operations</b>decreased by 76.7% toRMB13.1 million(US$2.0 million) in fiscal year 2020 fromRMB56.4 millionin the prior year.</p><p><blockquote><b>营业收入</b>2020财年的收入由上年的人民币5640万元下降76.7%至人民币1310万元（200万美元）。</blockquote></p><p><b>Income tax expense</b>&nbsp;wasRMB230.5&nbsp;million (US$35.3&nbsp;million) in fiscal year 2020, representing an increase of 789.3% fromRMB25.9&nbsp;million in the prior year. The increase was&nbsp;primarilydue to an increase in taxable income.</p><p><blockquote><b>所得税费用</b>2020财年为人民币2.305亿元（3530万美元），较上年的人民币2590万元增长789.3%。增加的主要原因是应纳税收入增加。</blockquote></p><p><b>Net loss</b>&nbsp;wasRMB128.1 million(US$19.6 million) in fiscal year 2020, compared with net income ofRMB47.7 millionin the prior year.</p><p><blockquote><b>净亏损</b>2020财年净利润为人民币1.281亿元（1960万美元），而上一年净利润为人民币4770万元。</blockquote></p><p><b>Non-GAAP net income</b>wasRMB801.0 million(US$122.8 million) in fiscal year 2020.</p><p><blockquote><b>非公认会计准则净利润</b>2020财年为人民币8.01亿元（1.228亿美元）。</blockquote></p><p><b>Basic and diluted net loss per ADS</b>&nbsp;were bothRMB0.089(US$0.014)in fiscal year 2020, compared to basic and diluted net income per ADS ofRMB0.033in the prior year.</p><p><blockquote><b>每股美国存托股基本和摊薄净亏损</b>2020财年每股美国存托凭证基本和摊薄净利润均为人民币0.089元（0.014美元），而上一年每股美国存托凭证基本净利润和摊薄净利润为人民币0.033元。</blockquote></p><p><b>Non-GAAP basic and diluted netincome&nbsp;per ADS</b>were bothRMB0.557(US$0.085)in fiscal year 2020, compared toRMB0.070per ADS in the prior year.</p><p><blockquote><b>非GAAP每股美国存托凭证基本和摊薄净收入</b>2020财年每股美国存托凭证为0.557元人民币（0.085美元），而上一年为每股美国存托凭证0.070元人民币。</blockquote></p><p><b><u>Balance&nbsp;Sheet</u></b></p><p><blockquote><b><u>资产负债表</u></b></blockquote></p><p>As ofDecember 31, 2020, the Company had cash and cash equivalents, restricted cash, short-term bank deposits and short-term investments ofRMB3,421.4&nbsp;million (US$524.4&nbsp;million), compared toRMB811.7 millionas ofDecember 31, 2019.</p><p><blockquote>截至2020年12月31日，公司的现金及现金等价物、限制性现金、短期银行存款和短期投资为人民币34.214亿元（5.244亿美元），而截至2019年12月31日为人民币8.117亿元。</blockquote></p><p><b><u>Business Outlook</u></b></p><p><blockquote><b><u>业务展望</u></b></blockquote></p><p>For the first quarter of 2021, the Company currently expects net revenues to exceedRMB2,300 million, and expects non-GAAP net income to exceedRMB590 million. The Company's expected net income will also include share-based compensation expenses which depend on the Company's share price and are not available without unreasonable efforts. The Company also expects gross margin&nbsp;toremain steady.</p><p><blockquote>对于2021年第一季度，公司目前预计净收入将超过人民币23亿元，预计非公认会计准则净利润将超过人民币5.9亿元。公司的预期净利润还将包括基于股份的薪酬费用，这些费用取决于公司的股价，如果不付出不合理的努力就无法获得。该公司还预计毛利率将保持稳定。</blockquote></p><p>The above outlook is based on the current market conditions, including those related to the COVID-19 pandemic, and reflects the Company's preliminary estimates of market and operating conditions, and users' demand, which are all subject to change. Please refer to \"Safe Harbor Statement\" in this press release for risks associated with forward-looking statements.</p><p><blockquote>上述展望基于当前市场状况，包括与COVID-19大流行相关的市场状况，反映了公司对市场和运营状况以及用户需求的初步估计，这些都可能发生变化。有关与前瞻性陈述相关的风险，请参阅本新闻稿中的“安全港声明”。</blockquote></p><p></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>RLX Technology's quarterly revenue jumps 44.5% QoQ<blockquote>RLX科技季度收入环比增长44.5%</blockquote></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\">\nRLX Technology's quarterly revenue jumps 44.5% QoQ<blockquote>RLX科技季度收入环比增长44.5%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-03-26 17:45</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>BEIJING, March&nbsp;26, 2021 /PRNewswire/ -- RLX Technology Inc. (\"RLX Technology\" or the \"Company\") (NYSE: RLX), a leading branded e-vapor company inChina, today announced its unaudited financial results for the fourth quarter and the fiscal year endedDecember 31, 2020.</p><p><blockquote>北京2021年3月26日电/美通社/--中国领先的品牌电子烟公司RLX科技公司（“RLX科技”或“公司”）（纽约证券交易所代码：RLX）今天公布了第四季度未经审计的财务业绩截至2020年12月31日的季度和财年。</blockquote></p><p><img src=\"https://static.tigerbbs.com/cd48712f2965372dd71b1af347f0ab9c\" tg-width=\"828\" tg-height=\"762\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b><u>Fourth Quarter 2020 Financial Highlights</u></b></p><p><blockquote><b><u>2020年第四季度财务摘要</u></b></blockquote></p><p><ul><li><b>Net revenues</b>wereRMB1,618.5 million(US$248.0 million), representing an increase of 44.5% fromRMB1,120.2 millionin the third quarter of 2020.</li><li><b>Gross margin</b>was 42.9%, compared to 39.1% in the third quarter of 2020.</li><li><b>Net loss</b>wasRMB236.7 million(US$36.3 million), compared with net income ofRMB7.8 millionin the third quarter of 2020.</li><li><b>Non-GAAP net income[1]</b>wasRMB419.3 million(US$64.3 million).</li></ul><table><tbody><tr><td>[1]Non-GAAP net (loss)/income is a non-GAAP financial measure. For more information on the Company's non-GAAP financial measures, please see the section \"Non-GAAP Financial Measures\" and the table captioned \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" set forth at the end of this press release.</p><p><blockquote><ul><li><b>净收入</b>为16.185亿元人民币（2.480亿美元），较2020年第三季度的11.202亿元人民币增长44.5%。</li><li><b>毛利率</b>为42.9%，而2020年第三季度为39.1%。</li><li><b>净亏损</b>为人民币2.367亿元（3630万美元），而2020年第三季度净利润为人民币780万元。</li><li><b>非公认会计准则净利润[1]</b>为人民币4.193亿元（6430万美元）。</li></ul><table><tbody><tr><td>[1]非公认会计准则净（损失）/收入是一项非公认会计准则财务指标。有关公司非GAAP财务指标的更多信息，请参阅本新闻稿末尾的“非GAAP财务指标”部分和标题为“未经审计的GAAP和非GAAP业绩调节表”的表格。</td></tr></tbody></table></blockquote></p><p></td></tr></tbody></table><b><u>Fiscal Year 2020 Financial Highlights</u></b></p><p><blockquote><b><u>2020财年财务摘要</u></b></blockquote></p><p><ul><li><b>Net revenues</b>wereRMB3,819.7 million(US$585.4 million) in fiscal year 2020, representing an increase of 146.5% fromRMB1,549.4 millionin the prior year.</li><li><b>Gross margin</b>was 40.0% in fiscal year 2020, compared to 37.5% in the prior year.</li><li><b>Net loss</b>wasRMB128.1 million(US$19.6 million) in fiscal year 2020, compared with net income ofRMB47.7 millionin the prior year.</li><li><b>Non-GAAP net income</b>wasRMB801.0 million(US$122.8 million).</li></ul>\"We are pleased to report financial and operational results for the fourth quarter of 2020. Throughout 2020, despite challenges stemming from COVID-19, our business remained resilient, and our management team maintained our focus on building and strengthening RELX as a trusted brand for adult smokers,\" said Ms.Ying (Kate) Wang, Co-founder, Chairperson of the Board of Directors and Chief Executive Officer of RLX Technology. \"We continue to consistently uphold and practice our ethical principles, including facilitating the prevention of underage use of our products through our industry pioneering<i>Guardian Program,</i>introducing effective age-verification practices to the industry. This fourth quarter also witnessed the first anniversary of the launch of our<i>Sunflower System</i>, our&nbsp;technology-driven underage-access-prevention system. In addition, we continued to advance our<i>Golden Shield Program</i>in cooperation with the public, media and local authorities to combat sales of counterfeit products.\"</p><p><blockquote><ul><li><b>净收入</b>2020财年为人民币38.197亿元（5.854亿美元），较上年的人民币15.494亿元增长146.5%。</li><li><b>毛利率</b>2020财年为40.0%，而上年为37.5%。</li><li><b>净亏损</b>2020财年净利润为人民币1.281亿元（1960万美元），而上一年净利润为人民币4770万元。</li><li><b>非公认会计准则净利润</b>为人民币8.01亿元（1.228亿美元）。</li></ul>“我们很高兴报告2020年第四季度的财务和运营业绩。在整个2020年，尽管面临COVID-19带来的挑战，我们的业务仍然保持弹性，我们的管理团队仍然专注于建立和加强悦刻作为值得信赖的品牌对于成年吸烟者来说，”RLX科技联合创始人、董事会主席兼首席执行官王英女士表示。“我们将继续坚持和实践我们的道德原则，包括通过我们的行业先锋促进防止未成年人使用我们的产品。”<i>守护者计划，</i>向行业介绍有效的年龄验证实践。第四季度亦见证了我们推出一周年<i>向日葵系统</i>，我们的技术驱动的未成年人访问预防系统。此外，我们持续推进<i>金盾计划</i>与公众、媒体和地方当局合作，打击假冒产品的销售。”</blockquote></p><p>\"Looking forward, we plan to further solidify our leadership as we endeavor to continue investment&nbsp;in scientific research, enhance our technology and product development, strengthen our distribution and retail network, bolster supply chain and production capabilities, and extend our global capabilities. These strategic initiatives are designed to support our growth over the long-term,\" Ms. Wang concluded.</p><p><blockquote>“展望未来，我们计划进一步巩固我们的领导地位，努力继续投资于科学研究，增强我们的技术和产品开发，加强我们的分销和零售网络，增强我们的供应链和生产能力，并扩展我们的全球能力。这些战略举措旨在支持我们的长期增长，”王女士总结道。</blockquote></p><p><b><u>Closing of Initial Public Offering (\"IPO\")</u></b></p><p><blockquote><b><u>首次公开发售（“首次公开发售”）结束</u></b></blockquote></p><p>OnJanuary 26, 2021, the Company completed the closing of its initial public offering of 133,975,000 American depositary shares (\"ADSs\"), each representing one Class A ordinary share. The number of ADSs issued at closing included 17,475,000 ADSs issued pursuant to the exercise in full of over-allotment option by the underwriters. At a price to the public ofUS$12.00per ADS, the total offering size wasUS$1,607.7 million.</p><p><blockquote>2021年1月26日，公司完成了133,975,000股美国存托股份（“ADS”）的首次公开发行，每股代表一股A类普通股。于交割时已发行的美国存讬股数目包括根据包销商悉数行使超额配股权而发行的17,475,000股美国存讬股。以每股美国存托凭证12.00美元的公开发行价格计算，总发行规模为16.077亿美元。</blockquote></p><p><b><u>Fourth Quarter 2020 Unaudited Financial Results</u></b></p><p><blockquote><b><u>2020年第四季度未经审计的财务业绩</u></b></blockquote></p><p><b>Net revenues</b>&nbsp;increased by 44.5% toRMB1,618.5 million(US$248.0 million) in the fourth quarter of 2020 fromRMB1,120.2 millionin the third quarter of 2020. The increase was primarily due to an increase in net revenues from sales to offline distributors, which was mainly attributable to the expansion of the Company's distribution and retail network.</p><p><blockquote><b>净收入</b>从2020年第三季度的人民币11.202亿元增长44.5%至2020年第四季度的人民币16.185亿元（2.480亿美元）。该增加主要是由于向线下分销商销售的净收入增加，这主要归因于公司分销和零售网络的扩张。</blockquote></p><p><b>Gross profit</b>&nbsp;increased by 58.6% to&nbsp;RMB694.1 million (US$106.4 million) in the fourth quarter of 2020 fromRMB437.5 millionin the third quarter of 2020.</p><p><blockquote><b>毛利</b>从2020年第三季度的人民币4.375亿元增长58.6%至2020年第四季度的人民币6.941亿元（1.064亿美元）。</blockquote></p><p><b>Gross margin</b>&nbsp;increased to 42.9% in the fourth quarter of 2020, compared to 39.1% in the third quarter of 2020.</p><p><blockquote><b>毛利率</b>2020年第四季度增至42.9%，而2020年第三季度为39.1%。</blockquote></p><p><b>Operating expenses</b>&nbsp;wereRMB852.6 million(US$130.7 million) in the fourth quarter of 2020, representing an increase of 124.4% fromRMB380.0&nbsp;million in the third quarter of 2020.</p><p><blockquote><b>营业费用</b>2020年第四季度为8.526亿元人民币（1.307亿美元），较2020年第三季度的3.80亿元人民币增长124.4%。</blockquote></p><p><i>Selling expenses</i>increased by 127.0% to&nbsp;RMB196.7 million (US$30.1 million) in the fourth quarter of 2020 fromRMB86.7 millionin the third quarter of 2020. The increase was mainly driven by (i) an increase in share-based compensation expenses, and (ii) an increase in branding material expenses.</p><p><blockquote><i>销售费用</i>2020年第四季度的人民币1.967亿元，较2020年第三季度的人民币8,670万元增长127.0%至人民币1.967亿元（3,010万美元）。该增加主要由于(i)以股份为基础的薪酬开支增加及(ii)品牌材料开支增加所致。</blockquote></p><p></p><p><i>General and administrative expenses</i>&nbsp;increased by 75.4% toRMB447.0 million(US$68.5 million) in the fourth quarter of 2020 fromRMB254.8 millionin the third quarter of 2020. The increase wasprimarilydue to (i) an increase in share-based compensation expenses, and (ii) an increase in professional service fees.</p><p><blockquote><i>一般及行政开支</i>从2020年第三季度的人民币2.548亿元增长75.4%至2020年第四季度的人民币4.470亿元（6850万美元）。增加的主要原因是（i）以股份为基础的薪酬开支增加，及（ii）专业服务费增加。</blockquote></p><p><i>Research and development expenses</i>increased by 441.9% to&nbsp;RMB208.9 million (US$32.0 million) in the fourth quarter of 2020 fromRMB38.5 millionin the third quarter of 2020. The increase wasprimarilydriven by (i) an increase in share-based compensation expenses, and (ii) an increase in software and technical service expenses.</p><p><blockquote><i>研发费用</i>从2020年第三季度的人民币3850万元增长441.9%至2020年第四季度的人民币2.089亿元（3200万美元）。这一增长主要是由于(i)以股份为基础的薪酬费用增加，以及(ii)软件和技术服务费用增加。</blockquote></p><p>Share-based compensation expenses recognized in selling expenses, general and administrative expenses and research and development expenses in total wereRMB656.1&nbsp;million (US$100.6&nbsp;million) in the fourth quarter of 2020 andRMB238.2&nbsp;million in the third quarter of 2020. The increase was primarily due to the increase in fair value of ordinary shares of Relx Inc.</p><p><blockquote>2020年第四季度，在销售费用、一般和管理费用以及研发费用中确认的股权激励费用总计为人民币6.561亿元（1.006亿美元），2020年第三季度为人民币2.382亿元。该增加主要是由于Relx Inc.普通股公允价值增加。</blockquote></p><p><b>Loss from operations</b>&nbsp;wasRMB158.5&nbsp;million (US$24.3&nbsp;million) in the fourth quarter of 2020, compared with income from operations ofRMB57.5 millionin the third quarter of 2020.</p><p><blockquote><b>经营亏损</b>2020年第四季度营业收入为人民币1.585亿元（2430万美元），而2020年第三季度营业收入为人民币5750万元。</blockquote></p><p><b>Income tax expense</b>&nbsp;wasRMB110.6&nbsp;million (US$17.0&nbsp;million) in the fourth quarter of 2020, compared with income tax expense ofRMB77.3 millionin the third quarter of 2020, primarily due to an increase in taxable income.</p><p><blockquote><b>所得税费用</b>2020年第四季度所得税费用为人民币1.106亿元（1700万美元），而2020年第三季度所得税费用为人民币7730万元，主要是由于应税收入增加。</blockquote></p><p><b>Net loss</b>&nbsp;wasRMB236.7&nbsp;million (US$36.3&nbsp;million) in the fourth&nbsp;quarter of 2020, compared with net income ofRMB7.8 millionin the third quarter of 2020.</p><p><blockquote><b>净亏损</b>2020年第四季度净利润为人民币2.367亿元（3630万美元），而2020年第三季度净利润为人民币780万元。</blockquote></p><p><b>Non-GAAP&nbsp;net income</b>wasRMB419.3 million(US$64.3&nbsp;million) in the fourth&nbsp;quarter of 2020.</p><p><blockquote><b>非公认会计准则净利润</b>2020年第四季度为4.193亿元人民币（6430万美元）。</blockquote></p><p><b>Basic and diluted net loss per American depositary share (\"ADS\")</b>&nbsp;were bothRMB0.165(US$0.025)in the fourth quarter of 2020, compared to basic and diluted net income per ADS ofRMB0.005in the third quarter of 2020.</p><p><blockquote><b>每股美国存托股份（“美国存托股份”）基本及摊薄净亏损</b>2020年第四季度每股美国存托凭证的基本和摊薄净利润均为人民币0.165元（0.025美元），而2020年第三季度每股美国存托凭证的基本和摊薄净利润为人民币0.005元。</blockquote></p><p><b>Non-GAAP basic and diluted netincome&nbsp;per ADS[2]</b>were bothRMB0.292(US$0.045)in the fourth quarter of 2020, compared toRMB0.171in the third quarter of 2020.</p><p><blockquote><b>非GAAP每股美国存托凭证基本和摊薄净收入[2]</b>2020年第四季度均为人民币0.292元（0.045美元），而2020年第三季度为人民币0.171元。</blockquote></p><p><table><tbody><tr><td>[2]Non-GAAP basic and diluted net (loss)/income per ADS is a non-GAAP financial measure. For more information on the Company's non-GAAP financial measures, please see the section \"Non-GAAP Financial Measures\" and the table captioned \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" set forth at the end of this press release.</p><p><blockquote><table><tbody><tr><td>[2]非公认会计原则每股美国存托凭证基本和摊薄净（亏损）/收入是一项非公认会计原则财务指标。有关公司非GAAP财务指标的更多信息，请参阅本新闻稿末尾的“非GAAP财务指标”部分和标题为“未经审计的GAAP和非GAAP业绩调节表”的表格。</td></tr></tbody></table></blockquote></p><p></td></tr></tbody></table><b><u>Fiscal Year 2020 Unaudited Financial Results</u></b></p><p><blockquote><b><u>2020财年未经审计的财务业绩</u></b></blockquote></p><p><b>Net revenues</b>&nbsp;increased by 146.5% to&nbsp;RMB3,819.7&nbsp;million (US$585.4 million) in fiscal year 2020 fromRMB1,549.4&nbsp;million in the prior year. The increase was primary due to an increase in net revenues from sales to offline distributors.</p><p><blockquote><b>净收入</b>2020财年的人民币38.197亿元（5.854亿美元）由上年的人民币15.494亿元增长146.5%至人民币38.197亿元（5.854亿美元）。该增长主要是由于向线下分销商销售的净收入增加所致。</blockquote></p><p><b>Gross profit</b>&nbsp;increased by 162.9% to&nbsp;RMB1,527.6 million (US$234.1 million) in fiscal year 2020 fromRMB580.9 millionin the prior year.</p><p><blockquote><b>毛利</b>2020财年的人民币15.276亿元（2.341亿美元）由上年的人民币5.809亿元增长162.9%至人民币15.276亿元（2.341亿美元）。</blockquote></p><p><b>Gross margin</b>&nbsp;was 40.0% in the fiscal year 2020, compared to 37.5% in the prior year.</p><p><blockquote><b>毛利率</b>2020财年为40.0%，而上年为37.5%。</blockquote></p><p><b>Operating expenses</b>&nbsp;wereRMB1,514.4 million(US$232.1 million) in fiscal year 2020, representing an increase of 188.7% fromRMB524.6&nbsp;million in the prior year.</p><p><blockquote><b>营业费用</b>2020财年为15.144亿元人民币（2.321亿美元），较上年的5.246亿元人民币增长188.7%。</blockquote></p><p><i>Selling expenses</i>increased by 23.3% toRMB443.2 million(US$67.9 million) in fiscal year 2020 fromRMB359.4 millionin the prior year. The increase was&nbsp;primarilydue to (i)&nbsp;an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's selling personnel, partially offset by a decrease in e-commerce platform service expenses as the Company closed its stores on e-commerce platforms and ceased collaboration with e-commerce platform distributors in response to theOctober 2019Announcement.</p><p><blockquote><i>销售费用</i>2020财年的收入从上年的3.594亿元人民币增长23.3%至4.432亿元人民币（6790万美元）。这一增长主要是由于（i）以股份为基础的薪酬费用增加，以及（ii）公司销售人员的工资和福利增加，但部分被公司关闭电商平台服务费用减少所抵消。2019年10月的公告，并停止与电商平台分销商的合作。</blockquote></p><p><i>General and administrative expenses</i>&nbsp;increased by 479.5% toRMB772.0 million(US$118.3 million) in fiscal year 2020 fromRMB133.2 millionin the prior year. The increase was&nbsp;primarilyattributable to (i) an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's general and administrative personnel.</p><p><blockquote><i>一般及行政开支</i>2020财年的收入从上年的人民币1.332亿元增长479.5%至人民币7.72亿元（1.183亿美元）。增加的主要原因是（i）以股份为基础的薪酬费用增加，以及（ii）公司一般和行政人员的工资和福利增加。</blockquote></p><p><i>Research and development expenses</i>increased by 837.2% toRMB299.3 million(US$45.9 million) in fiscal year 2020 fromRMB31.9 millionin the prior year. The increase was&nbsp;primarilydue to (i) an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's research and development personnel.</p><p><blockquote><i>研发费用</i>2020财年的收入从上一年的人民币3,190万元增长837.2%至人民币2.993亿元（4,590万美元）。增加的主要原因是（i）以股份为基础的薪酬费用增加，以及（ii）公司研发人员的工资和福利增加。</blockquote></p><p>Share-based compensation expenses recognized in selling expenses, general and administrative expenses and research and development expenses in total wereRMB929.1 million(US$142.4 million) in fiscal year 2020 andRMB52.7 millionin the prior year, primarily due to the increase in fair value of ordinary shares of Relx Inc.</p><p><blockquote>2020财年，销售费用、一般及管理费用以及研发费用中确认的股份补偿费用总额为人民币9.291亿元（1.424亿美元），上一年为人民币5270万元，主要是由于Relx Inc.普通股公允价值增加。</blockquote></p><p></p><p><b>Income from operations</b>decreased by 76.7% toRMB13.1 million(US$2.0 million) in fiscal year 2020 fromRMB56.4 millionin the prior year.</p><p><blockquote><b>营业收入</b>2020财年的收入由上年的人民币5640万元下降76.7%至人民币1310万元（200万美元）。</blockquote></p><p><b>Income tax expense</b>&nbsp;wasRMB230.5&nbsp;million (US$35.3&nbsp;million) in fiscal year 2020, representing an increase of 789.3% fromRMB25.9&nbsp;million in the prior year. The increase was&nbsp;primarilydue to an increase in taxable income.</p><p><blockquote><b>所得税费用</b>2020财年为人民币2.305亿元（3530万美元），较上年的人民币2590万元增长789.3%。增加的主要原因是应纳税收入增加。</blockquote></p><p><b>Net loss</b>&nbsp;wasRMB128.1 million(US$19.6 million) in fiscal year 2020, compared with net income ofRMB47.7 millionin the prior year.</p><p><blockquote><b>净亏损</b>2020财年净利润为人民币1.281亿元（1960万美元），而上一年净利润为人民币4770万元。</blockquote></p><p><b>Non-GAAP net income</b>wasRMB801.0 million(US$122.8 million) in fiscal year 2020.</p><p><blockquote><b>非公认会计准则净利润</b>2020财年为人民币8.01亿元（1.228亿美元）。</blockquote></p><p><b>Basic and diluted net loss per ADS</b>&nbsp;were bothRMB0.089(US$0.014)in fiscal year 2020, compared to basic and diluted net income per ADS ofRMB0.033in the prior year.</p><p><blockquote><b>每股美国存托股基本和摊薄净亏损</b>2020财年每股美国存托凭证基本和摊薄净利润均为人民币0.089元（0.014美元），而上一年每股美国存托凭证基本净利润和摊薄净利润为人民币0.033元。</blockquote></p><p><b>Non-GAAP basic and diluted netincome&nbsp;per ADS</b>were bothRMB0.557(US$0.085)in fiscal year 2020, compared toRMB0.070per ADS in the prior year.</p><p><blockquote><b>非GAAP每股美国存托凭证基本和摊薄净收入</b>2020财年每股美国存托凭证为0.557元人民币（0.085美元），而上一年为每股美国存托凭证0.070元人民币。</blockquote></p><p><b><u>Balance&nbsp;Sheet</u></b></p><p><blockquote><b><u>资产负债表</u></b></blockquote></p><p>As ofDecember 31, 2020, the Company had cash and cash equivalents, restricted cash, short-term bank deposits and short-term investments ofRMB3,421.4&nbsp;million (US$524.4&nbsp;million), compared toRMB811.7 millionas ofDecember 31, 2019.</p><p><blockquote>截至2020年12月31日，公司的现金及现金等价物、限制性现金、短期银行存款和短期投资为人民币34.214亿元（5.244亿美元），而截至2019年12月31日为人民币8.117亿元。</blockquote></p><p><b><u>Business Outlook</u></b></p><p><blockquote><b><u>业务展望</u></b></blockquote></p><p>For the first quarter of 2021, the Company currently expects net revenues to exceedRMB2,300 million, and expects non-GAAP net income to exceedRMB590 million. The Company's expected net income will also include share-based compensation expenses which depend on the Company's share price and are not available without unreasonable efforts. The Company also expects gross margin&nbsp;toremain steady.</p><p><blockquote>对于2021年第一季度，公司目前预计净收入将超过人民币23亿元，预计非公认会计准则净利润将超过人民币5.9亿元。公司的预期净利润还将包括基于股份的薪酬费用，这些费用取决于公司的股价，如果不付出不合理的努力就无法获得。该公司还预计毛利率将保持稳定。</blockquote></p><p>The above outlook is based on the current market conditions, including those related to the COVID-19 pandemic, and reflects the Company's preliminary estimates of market and operating conditions, and users' demand, which are all subject to change. Please refer to \"Safe Harbor Statement\" in this press release for risks associated with forward-looking statements.</p><p><blockquote>上述展望基于当前市场状况，包括与COVID-19大流行相关的市场状况，反映了公司对市场和运营状况以及用户需求的初步估计，这些都可能发生变化。有关与前瞻性陈述相关的风险，请参阅本新闻稿中的“安全港声明”。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"RLX":"雾芯科技"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2122473630","content_text":"BEIJING, March 26, 2021 /PRNewswire/ -- RLX Technology Inc. (\"RLX Technology\" or the \"Company\") (NYSE: RLX), a leading branded e-vapor company inChina, today announced its unaudited financial results for the fourth quarter and the fiscal year endedDecember 31, 2020.Fourth Quarter 2020 Financial HighlightsNet revenueswereRMB1,618.5 million(US$248.0 million), representing an increase of 44.5% fromRMB1,120.2 millionin the third quarter of 2020.Gross marginwas 42.9%, compared to 39.1% in the third quarter of 2020.Net losswasRMB236.7 million(US$36.3 million), compared with net income ofRMB7.8 millionin the third quarter of 2020.Non-GAAP net income[1]wasRMB419.3 million(US$64.3 million).[1]Non-GAAP net (loss)/income is a non-GAAP financial measure. For more information on the Company's non-GAAP financial measures, please see the section \"Non-GAAP Financial Measures\" and the table captioned \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" set forth at the end of this press release.Fiscal Year 2020 Financial HighlightsNet revenueswereRMB3,819.7 million(US$585.4 million) in fiscal year 2020, representing an increase of 146.5% fromRMB1,549.4 millionin the prior year.Gross marginwas 40.0% in fiscal year 2020, compared to 37.5% in the prior year.Net losswasRMB128.1 million(US$19.6 million) in fiscal year 2020, compared with net income ofRMB47.7 millionin the prior year.Non-GAAP net incomewasRMB801.0 million(US$122.8 million).\"We are pleased to report financial and operational results for the fourth quarter of 2020. Throughout 2020, despite challenges stemming from COVID-19, our business remained resilient, and our management team maintained our focus on building and strengthening RELX as a trusted brand for adult smokers,\" said Ms.Ying (Kate) Wang, Co-founder, Chairperson of the Board of Directors and Chief Executive Officer of RLX Technology. \"We continue to consistently uphold and practice our ethical principles, including facilitating the prevention of underage use of our products through our industry pioneeringGuardian Program,introducing effective age-verification practices to the industry. This fourth quarter also witnessed the first anniversary of the launch of ourSunflower System, our technology-driven underage-access-prevention system. In addition, we continued to advance ourGolden Shield Programin cooperation with the public, media and local authorities to combat sales of counterfeit products.\"\"Looking forward, we plan to further solidify our leadership as we endeavor to continue investment in scientific research, enhance our technology and product development, strengthen our distribution and retail network, bolster supply chain and production capabilities, and extend our global capabilities. These strategic initiatives are designed to support our growth over the long-term,\" Ms. Wang concluded.Closing of Initial Public Offering (\"IPO\")OnJanuary 26, 2021, the Company completed the closing of its initial public offering of 133,975,000 American depositary shares (\"ADSs\"), each representing one Class A ordinary share. The number of ADSs issued at closing included 17,475,000 ADSs issued pursuant to the exercise in full of over-allotment option by the underwriters. At a price to the public ofUS$12.00per ADS, the total offering size wasUS$1,607.7 million.Fourth Quarter 2020 Unaudited Financial ResultsNet revenues increased by 44.5% toRMB1,618.5 million(US$248.0 million) in the fourth quarter of 2020 fromRMB1,120.2 millionin the third quarter of 2020. The increase was primarily due to an increase in net revenues from sales to offline distributors, which was mainly attributable to the expansion of the Company's distribution and retail network.Gross profit increased by 58.6% to RMB694.1 million (US$106.4 million) in the fourth quarter of 2020 fromRMB437.5 millionin the third quarter of 2020.Gross margin increased to 42.9% in the fourth quarter of 2020, compared to 39.1% in the third quarter of 2020.Operating expenses wereRMB852.6 million(US$130.7 million) in the fourth quarter of 2020, representing an increase of 124.4% fromRMB380.0 million in the third quarter of 2020.Selling expensesincreased by 127.0% to RMB196.7 million (US$30.1 million) in the fourth quarter of 2020 fromRMB86.7 millionin the third quarter of 2020. The increase was mainly driven by (i) an increase in share-based compensation expenses, and (ii) an increase in branding material expenses.General and administrative expenses increased by 75.4% toRMB447.0 million(US$68.5 million) in the fourth quarter of 2020 fromRMB254.8 millionin the third quarter of 2020. The increase wasprimarilydue to (i) an increase in share-based compensation expenses, and (ii) an increase in professional service fees.Research and development expensesincreased by 441.9% to RMB208.9 million (US$32.0 million) in the fourth quarter of 2020 fromRMB38.5 millionin the third quarter of 2020. The increase wasprimarilydriven by (i) an increase in share-based compensation expenses, and (ii) an increase in software and technical service expenses.Share-based compensation expenses recognized in selling expenses, general and administrative expenses and research and development expenses in total wereRMB656.1 million (US$100.6 million) in the fourth quarter of 2020 andRMB238.2 million in the third quarter of 2020. The increase was primarily due to the increase in fair value of ordinary shares of Relx Inc.Loss from operations wasRMB158.5 million (US$24.3 million) in the fourth quarter of 2020, compared with income from operations ofRMB57.5 millionin the third quarter of 2020.Income tax expense wasRMB110.6 million (US$17.0 million) in the fourth quarter of 2020, compared with income tax expense ofRMB77.3 millionin the third quarter of 2020, primarily due to an increase in taxable income.Net loss wasRMB236.7 million (US$36.3 million) in the fourth quarter of 2020, compared with net income ofRMB7.8 millionin the third quarter of 2020.Non-GAAP net incomewasRMB419.3 million(US$64.3 million) in the fourth quarter of 2020.Basic and diluted net loss per American depositary share (\"ADS\") were bothRMB0.165(US$0.025)in the fourth quarter of 2020, compared to basic and diluted net income per ADS ofRMB0.005in the third quarter of 2020.Non-GAAP basic and diluted netincome per ADS[2]were bothRMB0.292(US$0.045)in the fourth quarter of 2020, compared toRMB0.171in the third quarter of 2020.[2]Non-GAAP basic and diluted net (loss)/income per ADS is a non-GAAP financial measure. For more information on the Company's non-GAAP financial measures, please see the section \"Non-GAAP Financial Measures\" and the table captioned \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" set forth at the end of this press release.Fiscal Year 2020 Unaudited Financial ResultsNet revenues increased by 146.5% to RMB3,819.7 million (US$585.4 million) in fiscal year 2020 fromRMB1,549.4 million in the prior year. The increase was primary due to an increase in net revenues from sales to offline distributors.Gross profit increased by 162.9% to RMB1,527.6 million (US$234.1 million) in fiscal year 2020 fromRMB580.9 millionin the prior year.Gross margin was 40.0% in the fiscal year 2020, compared to 37.5% in the prior year.Operating expenses wereRMB1,514.4 million(US$232.1 million) in fiscal year 2020, representing an increase of 188.7% fromRMB524.6 million in the prior year.Selling expensesincreased by 23.3% toRMB443.2 million(US$67.9 million) in fiscal year 2020 fromRMB359.4 millionin the prior year. The increase was primarilydue to (i) an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's selling personnel, partially offset by a decrease in e-commerce platform service expenses as the Company closed its stores on e-commerce platforms and ceased collaboration with e-commerce platform distributors in response to theOctober 2019Announcement.General and administrative expenses increased by 479.5% toRMB772.0 million(US$118.3 million) in fiscal year 2020 fromRMB133.2 millionin the prior year. The increase was primarilyattributable to (i) an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's general and administrative personnel.Research and development expensesincreased by 837.2% toRMB299.3 million(US$45.9 million) in fiscal year 2020 fromRMB31.9 millionin the prior year. The increase was primarilydue to (i) an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's research and development personnel.Share-based compensation expenses recognized in selling expenses, general and administrative expenses and research and development expenses in total wereRMB929.1 million(US$142.4 million) in fiscal year 2020 andRMB52.7 millionin the prior year, primarily due to the increase in fair value of ordinary shares of Relx Inc.Income from operationsdecreased by 76.7% toRMB13.1 million(US$2.0 million) in fiscal year 2020 fromRMB56.4 millionin the prior year.Income tax expense wasRMB230.5 million (US$35.3 million) in fiscal year 2020, representing an increase of 789.3% fromRMB25.9 million in the prior year. The increase was primarilydue to an increase in taxable income.Net loss wasRMB128.1 million(US$19.6 million) in fiscal year 2020, compared with net income ofRMB47.7 millionin the prior year.Non-GAAP net incomewasRMB801.0 million(US$122.8 million) in fiscal year 2020.Basic and diluted net loss per ADS were bothRMB0.089(US$0.014)in fiscal year 2020, compared to basic and diluted net income per ADS ofRMB0.033in the prior year.Non-GAAP basic and diluted netincome per ADSwere bothRMB0.557(US$0.085)in fiscal year 2020, compared toRMB0.070per ADS in the prior year.Balance SheetAs ofDecember 31, 2020, the Company had cash and cash equivalents, restricted cash, short-term bank deposits and short-term investments ofRMB3,421.4 million (US$524.4 million), compared toRMB811.7 millionas ofDecember 31, 2019.Business OutlookFor the first quarter of 2021, the Company currently expects net revenues to exceedRMB2,300 million, and expects non-GAAP net income to exceedRMB590 million. The Company's expected net income will also include share-based compensation expenses which depend on the Company's share price and are not available without unreasonable efforts. The Company also expects gross margin toremain steady.The above outlook is based on the current market conditions, including those related to the COVID-19 pandemic, and reflects the Company's preliminary estimates of market and operating conditions, and users' demand, which are all subject to change. Please refer to \"Safe Harbor Statement\" in this press release for risks associated with forward-looking statements.","news_type":1,"symbols_score_info":{"RLX":0.9}},"isVote":1,"tweetType":1,"viewCount":1441,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":358141953,"gmtCreate":1616675976372,"gmtModify":1631890383398,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"Love this stonk","listText":"Love this stonk","text":"Love this stonk","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/358141953","repostId":"1163829159","repostType":2,"repost":{"id":"1163829159","kind":"news","pubTimestamp":1616591036,"share":"https://www.laohu8.com/m/news/1163829159?lang=zh_CN&edition=full","pubTime":"2021-03-24 21:03","market":"us","language":"en","title":"Here's Why Beyond Meat Stock Could Shine Again in 2021<blockquote>这就是为什么Beyond Meat股票可能在2021年再次大放异彩</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1163829159","media":"Motley Fool ","summary":"Consumer spending is normalizing, and the meat substitute leader could have much to gain from a reop","content":"<p>Consumer spending is normalizing, and the meat substitute leader could have much to gain from a reopening economy.</p><p><blockquote>消费者支出正在正常化，肉类替代品领导者可能会从经济重新开放中受益匪浅。</blockquote></p><p> Since its epic rise after its IPO in 2019, the stock for plant-based-protein pioneer&nbsp;<b>Beyond Meat</b>&nbsp;(NASDAQ:BYND)&nbsp;has been stuck in a sideways action. The company has been hit by a flood of new competition, a pandemic, and a steady stream of bearish calls lambasting the high-flying stock's valuation. In spite of all this, though, the company has managed to stay (just barely at times) in growth mode.</p><p><blockquote>自2019年IPO后史诗般上涨以来，植物蛋白先驱的股票<b>Beyond Meat</b>（纳斯达克：BYND）一直陷入横盘整理。该公司受到了大量新竞争、流行病以及源源不断的看跌评级的打击，这些都严重打击了这只飞速发展的股票的估值。尽管如此，该公司还是设法保持（有时只是勉强）增长模式。</blockquote></p><p> As 2021 gets underway, the extended slumber for this next-gen food stock could be ready to reverse course. Here's why.</p><p><blockquote>随着2021年的到来，这种下一代食品库存的长期沉睡可能会逆转。原因如下。</blockquote></p><p> <b>This is one way for a stock to crash</b></p><p><blockquote><b>这是股票崩盘的一种方式</b></blockquote></p><p> After the extreme optimism in the months following its IPO, Beyond Meat stock has been a roller coaster ride. It's dropped, it's made several attempts to run higher, but ultimately it has come back to the same station from which it started almost two years ago: a&nbsp;market cap&nbsp;just shy of $9 billion.</p><p><blockquote>在经历了首次公开募股后几个月的极度乐观之后，Beyond Meat的股价就像坐过山车一样。它下跌了，多次尝试走高，但最终又回到了近两年前开始的同一个位置：市值略低于90亿美元。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/855358a1d48d9d00410554baeff7ab31\" tg-width=\"2000\" tg-height=\"1333\"><span>IS IT A BEEF PATTY, OR A PLANT-BASED ONE? IT'S HARDER TO TELL THESE DAYS. IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>是牛肉馅饼，还是植物馅饼？现在很难说了。图片来源：盖蒂图片社。</span></p></blockquote></p><p> This kind of volatile sideways action is one way for a stock to \"crash.\" Since the irrational exuberance wore off in the summer of 2019, Beyond Meat stock is sitting at essentially a 0% return. Meanwhile, the&nbsp;<b>S&amp;P 500</b>&nbsp;is up 33%.</p><p><blockquote>这种波动的横盘走势是股票“崩盘”的一种方式。自2019年夏季非理性繁荣消退以来，Beyond Meat股票的回报率基本上为0%。同时，<b>标普500</b>上涨了33%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a11cfc35183cbcaac25c7c4b8e835253\" tg-width=\"720\" tg-height=\"435\"><span>DATA BY YCHARTS.</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据由YCHARTS提供。</span></p></blockquote></p><p> As previously mentioned, though, Beyond Meat itself has continued to grow its business. Even in 2020, it weathered the COVID-19 storm and was able to maintain some positive traction disrupting the massive animal-based protein industry. Foodservice sales -- those made to restaurants -- took a sizable hit as consumers chose to eat at home during the pandemic, but retail sales via its grocery store distributors more than picked up the slack.</p><p><blockquote>不过，如前所述，Beyond Meat本身的业务也在继续增长。即使在2020年，它也经受住了新冠肺炎风暴，并能够保持一些积极的牵引力，扰乱了庞大的动物蛋白行业。由于消费者在疫情期间选择在家吃饭，餐饮服务销售（向餐馆销售的销售）受到了相当大的打击，但通过杂货店分销商的零售额远远弥补了这一缺口。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/193132417a321a9d268f89a8d55326ef\" tg-width=\"1149\" tg-height=\"420\"><span>DATA SOURCE: BEYOND MEAT. YOY = YEAR OVER YEAR.</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来源：BEYOND MEAT。YOY=同比。</span></p></blockquote></p><p> Granted, none of this means Beyond Meat shares are trading for some sort of bargain. At 22 times trailing-12-month sales and not reporting much in the way of meaningful profits yet (adjusted&nbsp;EBITDA&nbsp;was just $11.8 million in 2020 on total revenue of $407 million), suffice to say Beyond Meat is expected to return to rapid expansion in 2021 and, well, beyond.</p><p><blockquote>诚然，这并不意味着Beyond Meat股票的交易价格很便宜。过去12个月销售额的22倍，但尚未报告太多有意义的利润（2020年调整后EBITDA仅为1180万美元，总收入为4.07亿美元），足以说Beyond Meat预计将恢复快速扩张2021年及以后。</blockquote></p><p> Powerful brand recognition in an otherwise commoditized marketplace</p><p><blockquote>在商品化市场中强大的品牌认知度</blockquote></p><p> I think there's a good chance the implied growth shareholders are expecting will transpire. With the economy reopening, consumers will start returning to restaurants. And restaurants themselves will start to normalize their supply chains, too. Simplified menus with fewer options -- an attempt to cut expenses -- hurt Beyond Meat as much as lower customer foot traffic did.</p><p><blockquote>我认为股东预期的隐含增长很有可能会实现。随着经济重新开放，消费者将开始回到餐馆。餐馆本身也将开始实现供应链正常化。简化菜单和更少的选择——试图削减开支——对Beyond Meat的伤害不亚于减少顾客客流量。</blockquote></p><p> But this is more than an economic reopening bet. Beyond Meat and its peer Impossible Foods are on a mission to reduce animal protein consumption and promote more economically friendly practices. The message continues to win over fans. Some fast followers among food supplier incumbents have benefited, too (like&nbsp;<b>Nestle</b>&nbsp;and itsSweet Earth subsidiary). But as competition mounts and pricing on plant-based protein products falls, Beyond Meat has done a pretty good job&nbsp;holding on to some profit margin. Increasing retail and foodservice distribution will help this cause over time now that it's built out its manufacturing capabilities. Given the multiple dynamics behind the plant-based protein movement, Beyond Meat is looking increasingly less like a fad (hard seltzer, anyone?) and more like a potential long-term trend.</p><p><blockquote>但这不仅仅是一场经济重新开放的赌注。Beyond Meat及其同行Impossible Foods的使命是减少动物蛋白消费并促进更经济友好的做法。这一信息继续赢得粉丝的支持。食品供应商中的一些快速追随者也从中受益（如<b>偎依</b>及其Sweet Earth子公司）。但随着竞争的加剧和植物蛋白产品价格的下降，Beyond Meat在保持一定利润率方面做得相当好。随着时间的推移，增加零售和餐饮服务分销将有助于这一事业，因为它已经建立了制造能力。鉴于植物蛋白运动背后的多重动力，Beyond Meat看起来越来越不像一种时尚（有人要喝硬苏打水吗？），而更像是一种潜在的长期趋势。</blockquote></p><p> Here's another case in point: It's rare for restaurants to name their supplier in marketing campaigns. But there are exceptions. Think&nbsp;<b>Coca-Cola</b>&nbsp;products with fiercely loyal fans of its drinks,<b>PepsiCo</b>&nbsp;and its drinks and snack foods, or the \"Certified Angus Beef\" trademark. To pique diner interest, a restaurant might name drop a key food supplier if it has brand power. It's early in the game, but Beyond Meat is exhibiting this kind of consumer awareness and brand loyalty. When's the last time you saw a fast-food company tout carrying Sweet Earth burger patties? Beyond Meat, by contrast, often gets mentioned. And it continues to forge relationships within foodservice -- most recently&nbsp;inking new deals&nbsp;with&nbsp;two of world's largest chains,<b>McDonald's</b>&nbsp;and&nbsp;<b>Yum! Brands</b>.</p><p><blockquote>这是另一个恰当的例子：餐馆很少在营销活动中说出供应商的名字。但也有例外。思考<b>可口可乐</b>拥有其饮料忠实粉丝的产品，<b>百事可乐</b>及其饮料和休闲食品，或“认证安格斯牛肉”商标。为了激起食客的兴趣，如果一家餐馆有品牌影响力，它可能会点名一个主要的食品供应商。现在还处于早期阶段，但Beyond Meat正在展示这种消费者意识和品牌忠诚度。你最后一次看到快餐公司兜售甜地球汉堡肉饼是什么时候？相比之下，Beyond Meat经常被提及。它继续在餐饮服务领域建立关系——最近与世界上最大的两家连锁店签署了新协议，<b>麦当劳</b>和<b>好吃！品牌</b>.</blockquote></p><p></p><p> I'm not saying to go out and load up on Beyond Meat stock as the economy (and consumer spending) starts to normalize. A lot is riding on the plant-based food company returning to rapid growth, and with the effects of the pandemic still ongoing, those efforts could be derailed. However, if it does recapture some double-digit percentage expansion, 2021 could be the year Beyond Meat stock shines once more.</p><p><blockquote>我并不是说随着经济（和消费者支出）开始正常化，就去买入Beyond Meat股票。很大程度上取决于这家植物性食品公司能否恢复快速增长，由于大流行的影响仍在持续，这些努力可能会脱轨。然而，如果它确实重新实现两位数的百分比扩张，2021年可能是Beyond Meat股票再次大放异彩的一年。</blockquote></p><p></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>Here's Why Beyond Meat Stock Could Shine Again in 2021<blockquote>这就是为什么Beyond Meat股票可能在2021年再次大放异彩</blockquote></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\">\nHere's Why Beyond Meat Stock Could Shine Again in 2021<blockquote>这就是为什么Beyond Meat股票可能在2021年再次大放异彩</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool </strong><span class=\"h-time small\">2021-03-24 21:03</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Consumer spending is normalizing, and the meat substitute leader could have much to gain from a reopening economy.</p><p><blockquote>消费者支出正在正常化，肉类替代品领导者可能会从经济重新开放中受益匪浅。</blockquote></p><p> Since its epic rise after its IPO in 2019, the stock for plant-based-protein pioneer&nbsp;<b>Beyond Meat</b>&nbsp;(NASDAQ:BYND)&nbsp;has been stuck in a sideways action. The company has been hit by a flood of new competition, a pandemic, and a steady stream of bearish calls lambasting the high-flying stock's valuation. In spite of all this, though, the company has managed to stay (just barely at times) in growth mode.</p><p><blockquote>自2019年IPO后史诗般上涨以来，植物蛋白先驱的股票<b>Beyond Meat</b>（纳斯达克：BYND）一直陷入横盘整理。该公司受到了大量新竞争、流行病以及源源不断的看跌评级的打击，这些都严重打击了这只飞速发展的股票的估值。尽管如此，该公司还是设法保持（有时只是勉强）增长模式。</blockquote></p><p> As 2021 gets underway, the extended slumber for this next-gen food stock could be ready to reverse course. Here's why.</p><p><blockquote>随着2021年的到来，这种下一代食品库存的长期沉睡可能会逆转。原因如下。</blockquote></p><p> <b>This is one way for a stock to crash</b></p><p><blockquote><b>这是股票崩盘的一种方式</b></blockquote></p><p> After the extreme optimism in the months following its IPO, Beyond Meat stock has been a roller coaster ride. It's dropped, it's made several attempts to run higher, but ultimately it has come back to the same station from which it started almost two years ago: a&nbsp;market cap&nbsp;just shy of $9 billion.</p><p><blockquote>在经历了首次公开募股后几个月的极度乐观之后，Beyond Meat的股价就像坐过山车一样。它下跌了，多次尝试走高，但最终又回到了近两年前开始的同一个位置：市值略低于90亿美元。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/855358a1d48d9d00410554baeff7ab31\" tg-width=\"2000\" tg-height=\"1333\"><span>IS IT A BEEF PATTY, OR A PLANT-BASED ONE? IT'S HARDER TO TELL THESE DAYS. IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>是牛肉馅饼，还是植物馅饼？现在很难说了。图片来源：盖蒂图片社。</span></p></blockquote></p><p> This kind of volatile sideways action is one way for a stock to \"crash.\" Since the irrational exuberance wore off in the summer of 2019, Beyond Meat stock is sitting at essentially a 0% return. Meanwhile, the&nbsp;<b>S&amp;P 500</b>&nbsp;is up 33%.</p><p><blockquote>这种波动的横盘走势是股票“崩盘”的一种方式。自2019年夏季非理性繁荣消退以来，Beyond Meat股票的回报率基本上为0%。同时，<b>标普500</b>上涨了33%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a11cfc35183cbcaac25c7c4b8e835253\" tg-width=\"720\" tg-height=\"435\"><span>DATA BY YCHARTS.</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据由YCHARTS提供。</span></p></blockquote></p><p> As previously mentioned, though, Beyond Meat itself has continued to grow its business. Even in 2020, it weathered the COVID-19 storm and was able to maintain some positive traction disrupting the massive animal-based protein industry. Foodservice sales -- those made to restaurants -- took a sizable hit as consumers chose to eat at home during the pandemic, but retail sales via its grocery store distributors more than picked up the slack.</p><p><blockquote>不过，如前所述，Beyond Meat本身的业务也在继续增长。即使在2020年，它也经受住了新冠肺炎风暴，并能够保持一些积极的牵引力，扰乱了庞大的动物蛋白行业。由于消费者在疫情期间选择在家吃饭，餐饮服务销售（向餐馆销售的销售）受到了相当大的打击，但通过杂货店分销商的零售额远远弥补了这一缺口。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/193132417a321a9d268f89a8d55326ef\" tg-width=\"1149\" tg-height=\"420\"><span>DATA SOURCE: BEYOND MEAT. YOY = YEAR OVER YEAR.</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来源：BEYOND MEAT。YOY=同比。</span></p></blockquote></p><p> Granted, none of this means Beyond Meat shares are trading for some sort of bargain. At 22 times trailing-12-month sales and not reporting much in the way of meaningful profits yet (adjusted&nbsp;EBITDA&nbsp;was just $11.8 million in 2020 on total revenue of $407 million), suffice to say Beyond Meat is expected to return to rapid expansion in 2021 and, well, beyond.</p><p><blockquote>诚然，这并不意味着Beyond Meat股票的交易价格很便宜。过去12个月销售额的22倍，但尚未报告太多有意义的利润（2020年调整后EBITDA仅为1180万美元，总收入为4.07亿美元），足以说Beyond Meat预计将恢复快速扩张2021年及以后。</blockquote></p><p> Powerful brand recognition in an otherwise commoditized marketplace</p><p><blockquote>在商品化市场中强大的品牌认知度</blockquote></p><p> I think there's a good chance the implied growth shareholders are expecting will transpire. With the economy reopening, consumers will start returning to restaurants. And restaurants themselves will start to normalize their supply chains, too. Simplified menus with fewer options -- an attempt to cut expenses -- hurt Beyond Meat as much as lower customer foot traffic did.</p><p><blockquote>我认为股东预期的隐含增长很有可能会实现。随着经济重新开放，消费者将开始回到餐馆。餐馆本身也将开始实现供应链正常化。简化菜单和更少的选择——试图削减开支——对Beyond Meat的伤害不亚于减少顾客客流量。</blockquote></p><p> But this is more than an economic reopening bet. Beyond Meat and its peer Impossible Foods are on a mission to reduce animal protein consumption and promote more economically friendly practices. The message continues to win over fans. Some fast followers among food supplier incumbents have benefited, too (like&nbsp;<b>Nestle</b>&nbsp;and itsSweet Earth subsidiary). But as competition mounts and pricing on plant-based protein products falls, Beyond Meat has done a pretty good job&nbsp;holding on to some profit margin. Increasing retail and foodservice distribution will help this cause over time now that it's built out its manufacturing capabilities. Given the multiple dynamics behind the plant-based protein movement, Beyond Meat is looking increasingly less like a fad (hard seltzer, anyone?) and more like a potential long-term trend.</p><p><blockquote>但这不仅仅是一场经济重新开放的赌注。Beyond Meat及其同行Impossible Foods的使命是减少动物蛋白消费并促进更经济友好的做法。这一信息继续赢得粉丝的支持。食品供应商中的一些快速追随者也从中受益（如<b>偎依</b>及其Sweet Earth子公司）。但随着竞争的加剧和植物蛋白产品价格的下降，Beyond Meat在保持一定利润率方面做得相当好。随着时间的推移，增加零售和餐饮服务分销将有助于这一事业，因为它已经建立了制造能力。鉴于植物蛋白运动背后的多重动力，Beyond Meat看起来越来越不像一种时尚（有人要喝硬苏打水吗？），而更像是一种潜在的长期趋势。</blockquote></p><p> Here's another case in point: It's rare for restaurants to name their supplier in marketing campaigns. But there are exceptions. Think&nbsp;<b>Coca-Cola</b>&nbsp;products with fiercely loyal fans of its drinks,<b>PepsiCo</b>&nbsp;and its drinks and snack foods, or the \"Certified Angus Beef\" trademark. To pique diner interest, a restaurant might name drop a key food supplier if it has brand power. It's early in the game, but Beyond Meat is exhibiting this kind of consumer awareness and brand loyalty. When's the last time you saw a fast-food company tout carrying Sweet Earth burger patties? Beyond Meat, by contrast, often gets mentioned. And it continues to forge relationships within foodservice -- most recently&nbsp;inking new deals&nbsp;with&nbsp;two of world's largest chains,<b>McDonald's</b>&nbsp;and&nbsp;<b>Yum! Brands</b>.</p><p><blockquote>这是另一个恰当的例子：餐馆很少在营销活动中说出供应商的名字。但也有例外。思考<b>可口可乐</b>拥有其饮料忠实粉丝的产品，<b>百事可乐</b>及其饮料和休闲食品，或“认证安格斯牛肉”商标。为了激起食客的兴趣，如果一家餐馆有品牌影响力，它可能会点名一个主要的食品供应商。现在还处于早期阶段，但Beyond Meat正在展示这种消费者意识和品牌忠诚度。你最后一次看到快餐公司兜售甜地球汉堡肉饼是什么时候？相比之下，Beyond Meat经常被提及。它继续在餐饮服务领域建立关系——最近与世界上最大的两家连锁店签署了新协议，<b>麦当劳</b>和<b>好吃！品牌</b>.</blockquote></p><p></p><p> I'm not saying to go out and load up on Beyond Meat stock as the economy (and consumer spending) starts to normalize. A lot is riding on the plant-based food company returning to rapid growth, and with the effects of the pandemic still ongoing, those efforts could be derailed. However, if it does recapture some double-digit percentage expansion, 2021 could be the year Beyond Meat stock shines once more.</p><p><blockquote>我并不是说随着经济（和消费者支出）开始正常化，就去买入Beyond Meat股票。很大程度上取决于这家植物性食品公司能否恢复快速增长，由于大流行的影响仍在持续，这些努力可能会脱轨。然而，如果它确实重新实现两位数的百分比扩张，2021年可能是Beyond Meat股票再次大放异彩的一年。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/03/24/why-beyond-meat-stock-could-shine-again-in-2021/\">Motley Fool </a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BYND":"Beyond Meat, Inc."},"source_url":"https://www.fool.com/investing/2021/03/24/why-beyond-meat-stock-could-shine-again-in-2021/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163829159","content_text":"Consumer spending is normalizing, and the meat substitute leader could have much to gain from a reopening economy.\nSince its epic rise after its IPO in 2019, the stock for plant-based-protein pioneer Beyond Meat (NASDAQ:BYND) has been stuck in a sideways action. The company has been hit by a flood of new competition, a pandemic, and a steady stream of bearish calls lambasting the high-flying stock's valuation. In spite of all this, though, the company has managed to stay (just barely at times) in growth mode.\nAs 2021 gets underway, the extended slumber for this next-gen food stock could be ready to reverse course. Here's why.\nThis is one way for a stock to crash\nAfter the extreme optimism in the months following its IPO, Beyond Meat stock has been a roller coaster ride. It's dropped, it's made several attempts to run higher, but ultimately it has come back to the same station from which it started almost two years ago: a market cap just shy of $9 billion.\nIS IT A BEEF PATTY, OR A PLANT-BASED ONE? IT'S HARDER TO TELL THESE DAYS. IMAGE SOURCE: GETTY IMAGES.\nThis kind of volatile sideways action is one way for a stock to \"crash.\" Since the irrational exuberance wore off in the summer of 2019, Beyond Meat stock is sitting at essentially a 0% return. Meanwhile, the S&P 500 is up 33%.\nDATA BY YCHARTS.\nAs previously mentioned, though, Beyond Meat itself has continued to grow its business. Even in 2020, it weathered the COVID-19 storm and was able to maintain some positive traction disrupting the massive animal-based protein industry. Foodservice sales -- those made to restaurants -- took a sizable hit as consumers chose to eat at home during the pandemic, but retail sales via its grocery store distributors more than picked up the slack.\nDATA SOURCE: BEYOND MEAT. YOY = YEAR OVER YEAR.\nGranted, none of this means Beyond Meat shares are trading for some sort of bargain. At 22 times trailing-12-month sales and not reporting much in the way of meaningful profits yet (adjusted EBITDA was just $11.8 million in 2020 on total revenue of $407 million), suffice to say Beyond Meat is expected to return to rapid expansion in 2021 and, well, beyond.\nPowerful brand recognition in an otherwise commoditized marketplace\nI think there's a good chance the implied growth shareholders are expecting will transpire. With the economy reopening, consumers will start returning to restaurants. And restaurants themselves will start to normalize their supply chains, too. Simplified menus with fewer options -- an attempt to cut expenses -- hurt Beyond Meat as much as lower customer foot traffic did.\nBut this is more than an economic reopening bet. Beyond Meat and its peer Impossible Foods are on a mission to reduce animal protein consumption and promote more economically friendly practices. The message continues to win over fans. Some fast followers among food supplier incumbents have benefited, too (like Nestle and itsSweet Earth subsidiary). But as competition mounts and pricing on plant-based protein products falls, Beyond Meat has done a pretty good job holding on to some profit margin. Increasing retail and foodservice distribution will help this cause over time now that it's built out its manufacturing capabilities. Given the multiple dynamics behind the plant-based protein movement, Beyond Meat is looking increasingly less like a fad (hard seltzer, anyone?) and more like a potential long-term trend.\nHere's another case in point: It's rare for restaurants to name their supplier in marketing campaigns. But there are exceptions. Think Coca-Cola products with fiercely loyal fans of its drinks,PepsiCo and its drinks and snack foods, or the \"Certified Angus Beef\" trademark. To pique diner interest, a restaurant might name drop a key food supplier if it has brand power. It's early in the game, but Beyond Meat is exhibiting this kind of consumer awareness and brand loyalty. When's the last time you saw a fast-food company tout carrying Sweet Earth burger patties? Beyond Meat, by contrast, often gets mentioned. And it continues to forge relationships within foodservice -- most recently inking new deals with two of world's largest chains,McDonald's and Yum! Brands.\nI'm not saying to go out and load up on Beyond Meat stock as the economy (and consumer spending) starts to normalize. A lot is riding on the plant-based food company returning to rapid growth, and with the effects of the pandemic still ongoing, those efforts could be derailed. However, if it does recapture some double-digit percentage expansion, 2021 could be the year Beyond Meat stock shines once more.","news_type":1,"symbols_score_info":{"BYND":0.9}},"isVote":1,"tweetType":1,"viewCount":2632,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":353400221,"gmtCreate":1616510181963,"gmtModify":1631891768629,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"I have named my dotter Cathie in honour of ARK&nbsp;","listText":"I have named my dotter Cathie in honour of ARK&nbsp;","text":"I have named my dotter Cathie in honour of ARK","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/353400221","repostId":"1137063642","repostType":4,"repost":{"id":"1137063642","kind":"news","pubTimestamp":1616505836,"share":"https://www.laohu8.com/m/news/1137063642?lang=zh_CN&edition=full","pubTime":"2021-03-23 21:23","market":"us","language":"en","title":"Jury out on whether ARK Innovation returns are due to Cathie Wood’s skill or luck<blockquote>方舟创新的回报是由于凯西·伍德的技能还是运气还没有定论</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1137063642","media":"MarketWatch","summary":"Statistical scrutiny brings this high-flying ETF down to earth\nYou could have performed as well as t","content":"<p>Statistical scrutiny brings this high-flying ETF down to earth</p><p><blockquote>统计审查让这只飞速发展的ETF脚踏实地</blockquote></p><p> You could have performed as well as the high-flying ARK Innovation ETF by investing in the Nasdaq 100 Index.</p><p><blockquote>通过投资纳斯达克100指数，您本可以表现得与飞速发展的ARK Innovation ETF一样好。</blockquote></p><p> I know that seems hard to believe, given the stunning performance chief investment officer Cathie Wood has produced with ARK Innovation— a 229% gain over the past year, according to FactSet. Meanwhile, the Invesco QQQ Trust&nbsp;(which is benchmarked to the Nasdaq 100), gained 78%. Since its creation in October 2014, ARK Innovation has produced an annualized gain of 34.6%, versus 20.6% for the QQQ.</p><p><blockquote>我知道这似乎很难相信，因为首席投资官Cathie Wood凭借ARK Innovation取得了令人惊叹的业绩——根据FactSet的数据，过去一年增长了229%。与此同时，景顺QQQ信托（以纳斯达克100指数为基准）上涨了78%。自2014年10月成立以来，ARK Innovation的年化收益为34.6%，而QQQ的年化收益为20.6%。</blockquote></p><p> At the same time, ARK Innovation has been extremely volatile and risky, making an apples-to-apples comparison with the Nasdaq 100 misleading. As measured by the standard deviation of monthly returns, ARK Innovation has been 73% more volatile than QQQ. That’s really saying something, since QQQ is itself more volatile than broad market indices such as the S&amp;P 500.</p><p><blockquote>与此同时，方舟创新的波动性和风险极高，与纳斯达克100指数进行同类比较具有误导性。以月回报率的标准差衡量，ARK Innovation的波动性比QQQ高出73%。这确实说明了一些问题，因为QQQ本身比标普500等大盘指数波动性更大。</blockquote></p><p> One approach statisticians use to create an apples-to-apples comparison is with a metric known as the Sharpe Ratio, invented by William Sharpe, the 1990 Nobel laureate in economics. It is the ratio of a fund’s average returns to the standard deviation of those returns. The Sharpe Ratio of ARK Innovation’s monthly returns since 2014 is almost precisely the same as the QQQ’s.</p><p><blockquote>统计学家用来进行同类比较的一种方法是使用一种称为夏普比率的指标，该指标由1990年诺贝尔经济学奖获得者威廉·夏普发明。它是基金的平均回报与这些回报的标准差的比率。ARK Innovation自2014年以来每月回报的夏普比率几乎与QQQ完全相同。</blockquote></p><p> If you’re like some of my clients, your reaction is not to care about the Sharpe Ratio. “You can’t take the Sharpe Ratio to the bank,” you in effect tell me. It’s raw performance that counts, and on that basis there’s no doubt that the ARKK did far better.</p><p><blockquote>如果你像我的一些客户一样，你的反应是不关心夏普比率。“你不能把夏普比率带到银行，”你实际上是在告诉我。重要的是原始性能，在此基础上，毫无疑问ARKK的表现要好得多。</blockquote></p><p> This reaction is confused, however. In fact you can take the Sharpe Ratio to the bank. If you had been willing to incur the ARK Innovation’s increased volatility, you could have made just as much by leveraging an investment in the QQQ. That is, you would have made just as much by increasing your portfolio allocation to QQQ, or by buying it on sufficient margin. This is illustrated in the chart below:</p><p><blockquote>然而，这种反应令人困惑。事实上，你可以把夏普比率拿到银行。如果你愿意承受方舟创新增加的波动性，你可以通过投资QQQ来赚同样多的钱。也就是说，通过增加QQQ的投资组合配置，或者以足够的保证金购买，您可以赚到同样多的钱。如下图所示：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/13b81e9f1962e464faeb2d45cdd0e5f9\" tg-width=\"1260\" tg-height=\"849\"></p><p><blockquote></blockquote></p><p> The Sharpe Ratio is not the only method that statisticians employ for measuring adviser performance on a level playing field, but other widely used approaches reach the same conclusion. Perhaps the best known, at least in academic circles, is the Fama-French factor model, named for University of Chicago finance professor Eugene Fama (the 2013 Nobel laureate in economics) and Dartmouth College professor Ken French. Their model involves an econometric test to see if a mutual fund’s return is significantly better than a combination of index funds benchmarked to factors such as small-cap, growth, and momentum.</p><p><blockquote>夏普比率并不是统计学家在公平竞争环境中衡量顾问表现的唯一方法，但其他广泛使用的方法也得出了相同的结论。也许最著名的，至少在学术界，是以芝加哥大学金融学教授尤金·法玛（2013年诺贝尔经济学奖得主）和达特茅斯学院教授肯·弗伦奇的名字命名的法玛-弗伦奇因子模型。他们的模型涉及计量经济学测试，以了解共同基金的回报是否明显优于以小盘股、增长和动量等因素为基准的指数基金组合。</blockquote></p><p> The answer for ARK Innovation is “no” — an overweight allocation to a small-cap growth fund would have produced the same overall return since November 2014.</p><p><blockquote>ARK Innovation的答案是“不”——自2014年11月以来，跑赢大盘对小盘成长基金的配置将产生相同的整体回报。</blockquote></p><p> <b>Luck versus skill</b></p><p><blockquote><b>运气与技巧</b></blockquote></p><p> Note carefully that these statistical tests do not prove that ARK Innovation’s performance is due solely to luck. Instead, those tests tell us that we cannot conclude that its performance was not due to luck. In this case, the double negative is not the same as the positive; this is a subtle, but important, difference.</p><p><blockquote>仔细注意，这些统计测试并不能证明方舟创新的表现完全是运气使然。相反，这些测试告诉我们，我们不能断定它的表现不是由于运气。在这种情况下，双重否定并不等同于肯定；这是一个微妙但重要的区别。</blockquote></p><p> This goes to show just how difficult it is to prove that an investment manager has genuine market-beating ability. If beating an index fund by more than 10 percentage points annualized over a 6-plus-year period is not enough, then what is? (An email to ARK Investment Management requesting comment was not immediately answered.)</p><p><blockquote>这表明，证明一位投资经理具有真正的跑赢市场的能力是多么困难。如果在6年多的时间里年化指数基金超过10个百分点还不够，那么还有什么呢？（发送给方舟投资管理公司请求置评的电子邮件没有立即得到回复。）</blockquote></p><p> The answer: Satisfying traditional standards of statistical significance requires beating the market by a larger amount over a much longer period.</p><p><blockquote>答案是：满足统计意义的传统标准需要在更长的时间内以更大的幅度击败市场。</blockquote></p><p> An example of a fund that does jump over this much-higher hurdle is Renaissance Technologies’ Medallion Fund, a hedge fund that has produced an incredible 39% annualized return over the 33 calendar years through 2020, versus “just” 11% annualized for an index fund. Bradford Cornell, an emeritus finance professor at UCLA, told me in an interview that it is impossible to attribute that fund’s outperformance to mere luck. (Unfortunately, this fund is only available to current and former partners at Renaissance Technologies.)</p><p><blockquote>确实跨越这一更高障碍的基金的一个例子是Renaissance Technologies的Medallion基金，该对冲基金在截至2020年的33个日历年中产生了令人难以置信的39%的年化回报率，而“仅”为11%指数基金。加州大学洛杉矶分校名誉金融学教授布拉德福德·康奈尔在接受采访时告诉我，不可能将该基金的优异表现仅仅归因于运气。（不幸的是，该基金仅适用于Renaissance Technologies的现任和前任合作伙伴。）</blockquote></p><p> In the meantime, it’s too early to render anything close to a final verdict on ARK Innovation’s stunning performance. Its performance over the next several years may prove to be good enough to eventually satisfy traditional standards of statistical significance. Until then we can’t be sure. This is yet another reason why index funds are the default investment of choice.</p><p><blockquote>与此同时，现在对方舟创新的惊人表现做出任何接近最终结论还为时过早。它在未来几年的表现可能会被证明足够好，最终满足传统的统计意义标准。在那之前我们不能确定。这也是指数基金成为默认投资选择的另一个原因。</blockquote></p><p></p>","source":"market_watch","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>Jury out on whether ARK Innovation returns are due to Cathie Wood’s skill or luck<blockquote>方舟创新的回报是由于凯西·伍德的技能还是运气还没有定论</blockquote></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\">\nJury out on whether ARK Innovation returns are due to Cathie Wood’s skill or luck<blockquote>方舟创新的回报是由于凯西·伍德的技能还是运气还没有定论</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-03-23 21:23</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Statistical scrutiny brings this high-flying ETF down to earth</p><p><blockquote>统计审查让这只飞速发展的ETF脚踏实地</blockquote></p><p> You could have performed as well as the high-flying ARK Innovation ETF by investing in the Nasdaq 100 Index.</p><p><blockquote>通过投资纳斯达克100指数，您本可以表现得与飞速发展的ARK Innovation ETF一样好。</blockquote></p><p> I know that seems hard to believe, given the stunning performance chief investment officer Cathie Wood has produced with ARK Innovation— a 229% gain over the past year, according to FactSet. Meanwhile, the Invesco QQQ Trust&nbsp;(which is benchmarked to the Nasdaq 100), gained 78%. Since its creation in October 2014, ARK Innovation has produced an annualized gain of 34.6%, versus 20.6% for the QQQ.</p><p><blockquote>我知道这似乎很难相信，因为首席投资官Cathie Wood凭借ARK Innovation取得了令人惊叹的业绩——根据FactSet的数据，过去一年增长了229%。与此同时，景顺QQQ信托（以纳斯达克100指数为基准）上涨了78%。自2014年10月成立以来，ARK Innovation的年化收益为34.6%，而QQQ的年化收益为20.6%。</blockquote></p><p> At the same time, ARK Innovation has been extremely volatile and risky, making an apples-to-apples comparison with the Nasdaq 100 misleading. As measured by the standard deviation of monthly returns, ARK Innovation has been 73% more volatile than QQQ. That’s really saying something, since QQQ is itself more volatile than broad market indices such as the S&amp;P 500.</p><p><blockquote>与此同时，方舟创新的波动性和风险极高，与纳斯达克100指数进行同类比较具有误导性。以月回报率的标准差衡量，ARK Innovation的波动性比QQQ高出73%。这确实说明了一些问题，因为QQQ本身比标普500等大盘指数波动性更大。</blockquote></p><p> One approach statisticians use to create an apples-to-apples comparison is with a metric known as the Sharpe Ratio, invented by William Sharpe, the 1990 Nobel laureate in economics. It is the ratio of a fund’s average returns to the standard deviation of those returns. The Sharpe Ratio of ARK Innovation’s monthly returns since 2014 is almost precisely the same as the QQQ’s.</p><p><blockquote>统计学家用来进行同类比较的一种方法是使用一种称为夏普比率的指标，该指标由1990年诺贝尔经济学奖获得者威廉·夏普发明。它是基金的平均回报与这些回报的标准差的比率。ARK Innovation自2014年以来每月回报的夏普比率几乎与QQQ完全相同。</blockquote></p><p> If you’re like some of my clients, your reaction is not to care about the Sharpe Ratio. “You can’t take the Sharpe Ratio to the bank,” you in effect tell me. It’s raw performance that counts, and on that basis there’s no doubt that the ARKK did far better.</p><p><blockquote>如果你像我的一些客户一样，你的反应是不关心夏普比率。“你不能把夏普比率带到银行，”你实际上是在告诉我。重要的是原始性能，在此基础上，毫无疑问ARKK的表现要好得多。</blockquote></p><p> This reaction is confused, however. In fact you can take the Sharpe Ratio to the bank. If you had been willing to incur the ARK Innovation’s increased volatility, you could have made just as much by leveraging an investment in the QQQ. That is, you would have made just as much by increasing your portfolio allocation to QQQ, or by buying it on sufficient margin. This is illustrated in the chart below:</p><p><blockquote>然而，这种反应令人困惑。事实上，你可以把夏普比率拿到银行。如果你愿意承受方舟创新增加的波动性，你可以通过投资QQQ来赚同样多的钱。也就是说，通过增加QQQ的投资组合配置，或者以足够的保证金购买，您可以赚到同样多的钱。如下图所示：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/13b81e9f1962e464faeb2d45cdd0e5f9\" tg-width=\"1260\" tg-height=\"849\"></p><p><blockquote></blockquote></p><p> The Sharpe Ratio is not the only method that statisticians employ for measuring adviser performance on a level playing field, but other widely used approaches reach the same conclusion. Perhaps the best known, at least in academic circles, is the Fama-French factor model, named for University of Chicago finance professor Eugene Fama (the 2013 Nobel laureate in economics) and Dartmouth College professor Ken French. Their model involves an econometric test to see if a mutual fund’s return is significantly better than a combination of index funds benchmarked to factors such as small-cap, growth, and momentum.</p><p><blockquote>夏普比率并不是统计学家在公平竞争环境中衡量顾问表现的唯一方法，但其他广泛使用的方法也得出了相同的结论。也许最著名的，至少在学术界，是以芝加哥大学金融学教授尤金·法玛（2013年诺贝尔经济学奖得主）和达特茅斯学院教授肯·弗伦奇的名字命名的法玛-弗伦奇因子模型。他们的模型涉及计量经济学测试，以了解共同基金的回报是否明显优于以小盘股、增长和动量等因素为基准的指数基金组合。</blockquote></p><p> The answer for ARK Innovation is “no” — an overweight allocation to a small-cap growth fund would have produced the same overall return since November 2014.</p><p><blockquote>ARK Innovation的答案是“不”——自2014年11月以来，跑赢大盘对小盘成长基金的配置将产生相同的整体回报。</blockquote></p><p> <b>Luck versus skill</b></p><p><blockquote><b>运气与技巧</b></blockquote></p><p> Note carefully that these statistical tests do not prove that ARK Innovation’s performance is due solely to luck. Instead, those tests tell us that we cannot conclude that its performance was not due to luck. In this case, the double negative is not the same as the positive; this is a subtle, but important, difference.</p><p><blockquote>仔细注意，这些统计测试并不能证明方舟创新的表现完全是运气使然。相反，这些测试告诉我们，我们不能断定它的表现不是由于运气。在这种情况下，双重否定并不等同于肯定；这是一个微妙但重要的区别。</blockquote></p><p> This goes to show just how difficult it is to prove that an investment manager has genuine market-beating ability. If beating an index fund by more than 10 percentage points annualized over a 6-plus-year period is not enough, then what is? (An email to ARK Investment Management requesting comment was not immediately answered.)</p><p><blockquote>这表明，证明一位投资经理具有真正的跑赢市场的能力是多么困难。如果在6年多的时间里年化指数基金超过10个百分点还不够，那么还有什么呢？（发送给方舟投资管理公司请求置评的电子邮件没有立即得到回复。）</blockquote></p><p> The answer: Satisfying traditional standards of statistical significance requires beating the market by a larger amount over a much longer period.</p><p><blockquote>答案是：满足统计意义的传统标准需要在更长的时间内以更大的幅度击败市场。</blockquote></p><p> An example of a fund that does jump over this much-higher hurdle is Renaissance Technologies’ Medallion Fund, a hedge fund that has produced an incredible 39% annualized return over the 33 calendar years through 2020, versus “just” 11% annualized for an index fund. Bradford Cornell, an emeritus finance professor at UCLA, told me in an interview that it is impossible to attribute that fund’s outperformance to mere luck. (Unfortunately, this fund is only available to current and former partners at Renaissance Technologies.)</p><p><blockquote>确实跨越这一更高障碍的基金的一个例子是Renaissance Technologies的Medallion基金，该对冲基金在截至2020年的33个日历年中产生了令人难以置信的39%的年化回报率，而“仅”为11%指数基金。加州大学洛杉矶分校名誉金融学教授布拉德福德·康奈尔在接受采访时告诉我，不可能将该基金的优异表现仅仅归因于运气。（不幸的是，该基金仅适用于Renaissance Technologies的现任和前任合作伙伴。）</blockquote></p><p> In the meantime, it’s too early to render anything close to a final verdict on ARK Innovation’s stunning performance. Its performance over the next several years may prove to be good enough to eventually satisfy traditional standards of statistical significance. Until then we can’t be sure. This is yet another reason why index funds are the default investment of choice.</p><p><blockquote>与此同时，现在对方舟创新的惊人表现做出任何接近最终结论还为时过早。它在未来几年的表现可能会被证明足够好，最终满足传统的统计意义标准。在那之前我们不能确定。这也是指数基金成为默认投资选择的另一个原因。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/the-jury-is-out-on-whether-ark-innovations-red-hot-returns-are-due-to-cathie-woods-skill-or-luck-11616460092?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ARKF":"ARK Fintech Innovation ETF","ARKQ":"ARK Autonomous Technology & Robotics ETF","TSLA":"特斯拉","QQQ":"纳指100ETF","ARKK":"ARK Innovation ETF"},"source_url":"https://www.marketwatch.com/story/the-jury-is-out-on-whether-ark-innovations-red-hot-returns-are-due-to-cathie-woods-skill-or-luck-11616460092?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1137063642","content_text":"Statistical scrutiny brings this high-flying ETF down to earth\nYou could have performed as well as the high-flying ARK Innovation ETF by investing in the Nasdaq 100 Index.\nI know that seems hard to believe, given the stunning performance chief investment officer Cathie Wood has produced with ARK Innovation— a 229% gain over the past year, according to FactSet. Meanwhile, the Invesco QQQ Trust (which is benchmarked to the Nasdaq 100), gained 78%. Since its creation in October 2014, ARK Innovation has produced an annualized gain of 34.6%, versus 20.6% for the QQQ.\nAt the same time, ARK Innovation has been extremely volatile and risky, making an apples-to-apples comparison with the Nasdaq 100 misleading. As measured by the standard deviation of monthly returns, ARK Innovation has been 73% more volatile than QQQ. That’s really saying something, since QQQ is itself more volatile than broad market indices such as the S&P 500.\nOne approach statisticians use to create an apples-to-apples comparison is with a metric known as the Sharpe Ratio, invented by William Sharpe, the 1990 Nobel laureate in economics. It is the ratio of a fund’s average returns to the standard deviation of those returns. The Sharpe Ratio of ARK Innovation’s monthly returns since 2014 is almost precisely the same as the QQQ’s.\nIf you’re like some of my clients, your reaction is not to care about the Sharpe Ratio. “You can’t take the Sharpe Ratio to the bank,” you in effect tell me. It’s raw performance that counts, and on that basis there’s no doubt that the ARKK did far better.\nThis reaction is confused, however. In fact you can take the Sharpe Ratio to the bank. If you had been willing to incur the ARK Innovation’s increased volatility, you could have made just as much by leveraging an investment in the QQQ. That is, you would have made just as much by increasing your portfolio allocation to QQQ, or by buying it on sufficient margin. This is illustrated in the chart below:\n\nThe Sharpe Ratio is not the only method that statisticians employ for measuring adviser performance on a level playing field, but other widely used approaches reach the same conclusion. Perhaps the best known, at least in academic circles, is the Fama-French factor model, named for University of Chicago finance professor Eugene Fama (the 2013 Nobel laureate in economics) and Dartmouth College professor Ken French. Their model involves an econometric test to see if a mutual fund’s return is significantly better than a combination of index funds benchmarked to factors such as small-cap, growth, and momentum.\nThe answer for ARK Innovation is “no” — an overweight allocation to a small-cap growth fund would have produced the same overall return since November 2014.\nLuck versus skill\nNote carefully that these statistical tests do not prove that ARK Innovation’s performance is due solely to luck. Instead, those tests tell us that we cannot conclude that its performance was not due to luck. In this case, the double negative is not the same as the positive; this is a subtle, but important, difference.\nThis goes to show just how difficult it is to prove that an investment manager has genuine market-beating ability. If beating an index fund by more than 10 percentage points annualized over a 6-plus-year period is not enough, then what is? (An email to ARK Investment Management requesting comment was not immediately answered.)\nThe answer: Satisfying traditional standards of statistical significance requires beating the market by a larger amount over a much longer period.\nAn example of a fund that does jump over this much-higher hurdle is Renaissance Technologies’ Medallion Fund, a hedge fund that has produced an incredible 39% annualized return over the 33 calendar years through 2020, versus “just” 11% annualized for an index fund. Bradford Cornell, an emeritus finance professor at UCLA, told me in an interview that it is impossible to attribute that fund’s outperformance to mere luck. (Unfortunately, this fund is only available to current and former partners at Renaissance Technologies.)\nIn the meantime, it’s too early to render anything close to a final verdict on ARK Innovation’s stunning performance. Its performance over the next several years may prove to be good enough to eventually satisfy traditional standards of statistical significance. Until then we can’t be sure. This is yet another reason why index funds are the default investment of choice.","news_type":1,"symbols_score_info":{"ARKF":0.9,"ARKK":0.9,"ARKQ":0.9,"QQQ":0.9,"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":655,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350402945,"gmtCreate":1616245222987,"gmtModify":1631891768633,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"Just another way to bypass IPO process.","listText":"Just another way to bypass IPO process.","text":"Just another way to bypass IPO process.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350402945","repostId":"1126157111","repostType":4,"isVote":1,"tweetType":1,"viewCount":366,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350318090,"gmtCreate":1616159891510,"gmtModify":1631891768641,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"Rocket to the 🌙<a href=\"https://laohu8.com/S/PLTR\">$PLTR 20210409 20.0 PUT(PLTR)$</a>","listText":"Rocket to the 🌙<a href=\"https://laohu8.com/S/PLTR\">$PLTR 20210409 20.0 PUT(PLTR)$</a>","text":"Rocket to the 🌙$PLTR 20210409 20.0 PUT(PLTR)$","images":[{"img":"https://static.tigerbbs.com/84c635079690974757dc6b19da2eb547","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350318090","isVote":1,"tweetType":1,"viewCount":629,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":321633608,"gmtCreate":1615427474104,"gmtModify":1703488896444,"author":{"id":"3560130779771513","authorId":"3560130779771513","name":"wallstreaks","avatar":"https://static.tigerbbs.com/5a0d57618353cd0406b7a1f7ee2445a8","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3560130779771513","idStr":"3560130779771513"},"themes":[],"htmlText":"Looking ahead to 35000","listText":"Looking ahead to 35000","text":"Looking ahead to 35000","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/321633608","repostId":"2118860390","repostType":4,"isVote":1,"tweetType":1,"viewCount":495,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}