xiaochan的个人主页 - 老虎社区

xiaochan

暂无个人介绍

IP属地：未知

315关注

32粉丝

0主题

0勋章

2021-07-26

Good!!!

抱歉，原内容已删除

2021-05-05

Up up up

抱歉，原内容已删除

2021-04-19

Buy !!

抱歉，原内容已删除

2021-07-23

Buy!

抱歉，原内容已删除

2021-06-26

Buy now while at discount

抱歉，原内容已删除

2021-03-31

Wow! This is great!!!!

抱歉，原内容已删除

2021-08-10

Buy the dip!

抱歉，原内容已删除

2021-06-20

Buy!

抱歉，原内容已删除

2021-03-28

Wow

Zhihu Technology fall on its first day of trading<blockquote>知乎科技上市首日下跌</blockquote>

2021-08-07

Like

20 cloud stocks expected to increase sales the most over the next two years<blockquote>预计未来两年销售额增幅最大的20只云股票</blockquote>

去老虎APP查看更多动态

{"i18n":{"language":"zh_CN"},"userPageInfo":{"id":"3570343633899015","uuid":"3570343633899015","gmtCreate":1609950087068,"gmtModify":1609950087068,"name":"xiaochan","pinyin":"xiaochan","introduction":"","introductionEn":"","signature":"","avatar":"https://static.laohu8.com/default-avatar.jpg","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":32,"headSize":315,"tweetSize":316,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":1,"name":"萌萌虎","nameTw":"萌萌虎","represent":"呱呱坠地","factor":"评论帖子3次或发布1条主帖（非转发）","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":null,"userBadges":[{"badgeId":"e50ce593bb40487ebfb542ca54f6a561-1","templateUuid":"e50ce593bb40487ebfb542ca54f6a561","name":"出道虎友","description":"加入老虎社区500天","bigImgUrl":"https://static.tigerbbs.com/0e4d0ca1da0456dc7894c946d44bf9ab","smallImgUrl":"https://static.tigerbbs.com/0f2f65e8ce4cfaae8db2bea9b127f58b","grayImgUrl":"https://static.tigerbbs.com/c5948a31b6edf154422335b265235809","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.05.22","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001},{"badgeId":"228c86a078844d74991fff2b7ab2428d-2","templateUuid":"228c86a078844d74991fff2b7ab2428d","name":"投资总监虎","description":"证券账户累计交易金额达到30万美元","bigImgUrl":"https://static.tigerbbs.com/9d20b23f1b6335407f882bc5c2ad12c0","smallImgUrl":"https://static.tigerbbs.com/ada3b4533518ace8404a3f6dd192bd29","grayImgUrl":"https://static.tigerbbs.com/177f283ba21d1c077054dac07f88f3bd","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.28","exceedPercentage":"80.50%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1101},{"badgeId":"976c19eed35f4cd78f17501c2e99ef37-1","templateUuid":"976c19eed35f4cd78f17501c2e99ef37","name":"博闻投资者","description":"累计交易超过10只正股","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102},{"badgeId":"518b5610c3e8410da5cfad115e4b0f5a-1","templateUuid":"518b5610c3e8410da5cfad115e4b0f5a","name":"实盘交易者","description":"完成一笔实盘交易","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100},{"badgeId":"35ec162348d5460f88c959321e554969-3","templateUuid":"35ec162348d5460f88c959321e554969","name":"传说交易员","description":"证券或期货账户累计交易次数达到300次","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"93.46%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100}],"userBadgeCount":5,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":12,"crmLevelSwitch":0,"location":"未知","starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"hot","tweets":[{"id":603155467,"gmtCreate":1638378206090,"gmtModify":1638378206697,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"It’s in the app. Under “analysis”","listText":"It’s in the app. Under “analysis”","text":"It’s in the app. Under “analysis”","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/603155467","repostId":"603152283","repostType":1,"repost":{"id":603152283,"gmtCreate":1638378053907,"gmtModify":1638378054019,"author":{"id":"3574753638076287","authorId":"3574753638076287","name":"Ceddy","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574753638076287","authorIdStr":"3574753638076287"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>can someone analysis the short margin and short rate?","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>can someone analysis the short margin and short rate?","text":"$Tiger Brokers(TIGR)$can someone analysis the short margin and short rate?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/603152283","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":3653,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":816677338,"gmtCreate":1630501515324,"gmtModify":1632476179909,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"Good!","listText":"Good!","text":"Good!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/816677338","repostId":"2164125892","repostType":4,"isVote":1,"tweetType":1,"viewCount":2378,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":816674710,"gmtCreate":1630501506230,"gmtModify":1632476182635,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/816674710","repostId":"2164125892","repostType":4,"isVote":1,"tweetType":1,"viewCount":4152,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":816891684,"gmtCreate":1630484798348,"gmtModify":1633677739217,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"&nbsp;[Miser]&nbsp;","listText":"&nbsp;[Miser]&nbsp;","text":"[Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/816891684","repostId":"1139912608","repostType":2,"repost":{"id":"1139912608","kind":"news","pubTimestamp":1630454249,"share":"https://www.laohu8.com/m/news/1139912608?lang=zh_CN&edition=full","pubTime":"2021-09-01 07:57","market":"us","language":"en","title":"Here's Why Skillz Stock Suddenly Spiked Today<blockquote>这就是Skillz股票今天突然飙升的原因</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1139912608","media":"Motley Fool","summary":"Someone just made a multimillion-dollar bet on this company.\n\nWhat happened\nShares of mobile-gaming ","content":"<p>  <b>Someone just made a multimillion-dollar bet on this company.</b>  <b>What happened</b></p><p><blockquote><b>有人刚刚在这家公司上下了数百万美元的赌注。</b><b>发生了什么</b></blockquote></p><p> Shares of mobile-gaming platform&nbsp;<b><a href=\"https://laohu8.com/S/SKLZ\">Skillz Inc</a></b> were trading modestly higher for most of Tuesday's session. But around 1:30 p.m. EDT, the stock suddenly spiked higher, seemingly out of nowhere. As of this writing, the stock is up 12%. After a little digging, it seems that some chatter on social news platform Reddit could be responsible for the jump.</p><p><blockquote>手机游戏平台股份<b><a href=\"https://laohu8.com/S/SKLZ\">斯基尔茨公司</a></b>周二交易的大部分时间都小幅走高。但下午1:30左右美国东部时间，该股突然飙升，似乎不知从哪里冒出来的。截至撰写本文时，该股已上涨12%。经过一番挖掘，社交新闻平台Reddit上的一些聊天似乎可能是这次跳跃的原因。</blockquote></p><p> <b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p> A Reddit user posted that they had purchased $4.8 million in Skillz stock.&nbsp;Normally, I'd be reluctant to mention something like this. But there's no other news from Skillz today. Moreover, the time of the Reddit post roughly corresponds to the jump in Skillz stock. Therefore, this possibility can't be dismissed.</p><p><blockquote>一位Reddit用户发帖称，他们购买了480万美元的Skillz股票。通常情况下，我不愿意提及这样的事情。但是今天Skillz没有其他消息。而且，Reddit发帖的时间大致对应于Skillz股票的上涨。因此，不能排除这种可能性。</blockquote></p><p> To be clear, one Reddit user likely can't move Skillz stock this much on their own. But as we've seen with other stocks in 2021, a strong vote of confidence on Reddit can inspire many other investors to also purchase shares. And this combined effort can cause a stock to make moves.</p><p><blockquote>需要明确的是，一个Reddit用户可能无法独自移动Skillz股票这么多。但正如我们在2021年对其他股票所看到的那样，Reddit上的强烈信任票可以激励许多其他投资者也购买股票。这种共同的努力可以导致股票出现波动。</blockquote></p><p> <b>Now what</b></p><p><blockquote><b>现在怎么办</b></blockquote></p><p> Wondering if you should join the new wave of Skillz investors? I'll leave you with two thoughts. First, I wouldn't recommend ever buying or selling a stock based solely on what someone else is doing. At a minimum, you should know what the company does, and you should have a basic understanding of how its business model can create shareholder value over time.</p><p><blockquote>想知道您是否应该加入新一波Skillz投资者？我留给你两个想法。首先，我不建议仅仅根据别人的所作所为来买卖股票。至少，你应该知道公司是做什么的，你应该对它的商业模式如何随着时间的推移创造股东价值有一个基本的了解。</blockquote></p><p> Second, remember that not everyone is playing the same game when it comes to the stock market. Someone might make a multimillion-dollar bet, but you don't know their personal financial situation or how long they plan to hold. When it comes to my approach, I'm interested in building adiversified portfolioof stocks that Ihold for many years. This strategy allows me to take advantage of the stock market's upward bias over time and also compensates for my own fallibility. This is the game I think other investors should be playing too.</p><p><blockquote>其次，请记住，在股市方面，并非每个人都在玩同样的游戏。有人可能会下数百万美元的赌注，但你不知道他们的个人财务状况，也不知道他们打算持有多长时间。就我的方法而言，我有兴趣建立我持有多年的多元化股票投资组合。这种策略使我能够利用股市随着时间的推移而上涨的趋势，也弥补了我自己的易错性。我认为其他投资者也应该玩这个游戏。</blockquote></p><p> For the record, I'm a satisfied Skillz shareholder, and I believe it'sa company you should get to know. That said, I'd suggest investors<i>not</i>make rash buying decisions based on social media hype. If Skillz is a great long-term opportunity, it will still be there afteryou've done some research.</p><p><blockquote>郑重声明，我是Skillz的满意股东，我相信这是一家您应该了解的公司。也就是说，我建议投资者<i>不</i>根据社交媒体的炒作做出轻率的购买决定。如果Skillz是一个很好的长期机会，那么在你做了一些研究之后，它仍然会存在。</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 Skillz Stock Suddenly Spiked Today<blockquote>这就是Skillz股票今天突然飙升的原因</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 Skillz Stock Suddenly Spiked Today<blockquote>这就是Skillz股票今天突然飙升的原因</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\">2021-09-01 07:57</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Someone just made a multimillion-dollar bet on this company.</b>  <b>What happened</b></p><p><blockquote><b>有人刚刚在这家公司上下了数百万美元的赌注。</b><b>发生了什么</b></blockquote></p><p> Shares of mobile-gaming platform&nbsp;<b><a href=\"https://laohu8.com/S/SKLZ\">Skillz Inc</a></b> were trading modestly higher for most of Tuesday's session. But around 1:30 p.m. EDT, the stock suddenly spiked higher, seemingly out of nowhere. As of this writing, the stock is up 12%. After a little digging, it seems that some chatter on social news platform Reddit could be responsible for the jump.</p><p><blockquote>手机游戏平台股份<b><a href=\"https://laohu8.com/S/SKLZ\">斯基尔茨公司</a></b>周二交易的大部分时间都小幅走高。但下午1:30左右美国东部时间，该股突然飙升，似乎不知从哪里冒出来的。截至撰写本文时，该股已上涨12%。经过一番挖掘，社交新闻平台Reddit上的一些聊天似乎可能是这次跳跃的原因。</blockquote></p><p> <b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p> A Reddit user posted that they had purchased $4.8 million in Skillz stock.&nbsp;Normally, I'd be reluctant to mention something like this. But there's no other news from Skillz today. Moreover, the time of the Reddit post roughly corresponds to the jump in Skillz stock. Therefore, this possibility can't be dismissed.</p><p><blockquote>一位Reddit用户发帖称，他们购买了480万美元的Skillz股票。通常情况下，我不愿意提及这样的事情。但是今天Skillz没有其他消息。而且，Reddit发帖的时间大致对应于Skillz股票的上涨。因此，不能排除这种可能性。</blockquote></p><p> To be clear, one Reddit user likely can't move Skillz stock this much on their own. But as we've seen with other stocks in 2021, a strong vote of confidence on Reddit can inspire many other investors to also purchase shares. And this combined effort can cause a stock to make moves.</p><p><blockquote>需要明确的是，一个Reddit用户可能无法独自移动Skillz股票这么多。但正如我们在2021年对其他股票所看到的那样，Reddit上的强烈信任票可以激励许多其他投资者也购买股票。这种共同的努力可以导致股票出现波动。</blockquote></p><p> <b>Now what</b></p><p><blockquote><b>现在怎么办</b></blockquote></p><p> Wondering if you should join the new wave of Skillz investors? I'll leave you with two thoughts. First, I wouldn't recommend ever buying or selling a stock based solely on what someone else is doing. At a minimum, you should know what the company does, and you should have a basic understanding of how its business model can create shareholder value over time.</p><p><blockquote>想知道您是否应该加入新一波Skillz投资者？我留给你两个想法。首先，我不建议仅仅根据别人的所作所为来买卖股票。至少，你应该知道公司是做什么的，你应该对它的商业模式如何随着时间的推移创造股东价值有一个基本的了解。</blockquote></p><p> Second, remember that not everyone is playing the same game when it comes to the stock market. Someone might make a multimillion-dollar bet, but you don't know their personal financial situation or how long they plan to hold. When it comes to my approach, I'm interested in building adiversified portfolioof stocks that Ihold for many years. This strategy allows me to take advantage of the stock market's upward bias over time and also compensates for my own fallibility. This is the game I think other investors should be playing too.</p><p><blockquote>其次，请记住，在股市方面，并非每个人都在玩同样的游戏。有人可能会下数百万美元的赌注，但你不知道他们的个人财务状况，也不知道他们打算持有多长时间。就我的方法而言，我有兴趣建立我持有多年的多元化股票投资组合。这种策略使我能够利用股市随着时间的推移而上涨的趋势，也弥补了我自己的易错性。我认为其他投资者也应该玩这个游戏。</blockquote></p><p> For the record, I'm a satisfied Skillz shareholder, and I believe it'sa company you should get to know. That said, I'd suggest investors<i>not</i>make rash buying decisions based on social media hype. If Skillz is a great long-term opportunity, it will still be there afteryou've done some research.</p><p><blockquote>郑重声明，我是Skillz的满意股东，我相信这是一家您应该了解的公司。也就是说，我建议投资者<i>不</i>根据社交媒体的炒作做出轻率的购买决定。如果Skillz是一个很好的长期机会，那么在你做了一些研究之后，它仍然会存在。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/08/31/heres-why-skillz-stock-suddenly-spiked-today/\">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":{"SKLZ":"Skillz Inc"},"source_url":"https://www.fool.com/investing/2021/08/31/heres-why-skillz-stock-suddenly-spiked-today/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139912608","content_text":"Someone just made a multimillion-dollar bet on this company.\n\nWhat happened\nShares of mobile-gaming platform Skillz Inc were trading modestly higher for most of Tuesday's session. But around 1:30 p.m. EDT, the stock suddenly spiked higher, seemingly out of nowhere. As of this writing, the stock is up 12%. After a little digging, it seems that some chatter on social news platform Reddit could be responsible for the jump.\nSo what\nA Reddit user posted that they had purchased $4.8 million in Skillz stock. Normally, I'd be reluctant to mention something like this. But there's no other news from Skillz today. Moreover, the time of the Reddit post roughly corresponds to the jump in Skillz stock. Therefore, this possibility can't be dismissed.\nTo be clear, one Reddit user likely can't move Skillz stock this much on their own. But as we've seen with other stocks in 2021, a strong vote of confidence on Reddit can inspire many other investors to also purchase shares. And this combined effort can cause a stock to make moves.\nNow what\nWondering if you should join the new wave of Skillz investors? I'll leave you with two thoughts. First, I wouldn't recommend ever buying or selling a stock based solely on what someone else is doing. At a minimum, you should know what the company does, and you should have a basic understanding of how its business model can create shareholder value over time.\nSecond, remember that not everyone is playing the same game when it comes to the stock market. Someone might make a multimillion-dollar bet, but you don't know their personal financial situation or how long they plan to hold. When it comes to my approach, I'm interested in building adiversified portfolioof stocks that Ihold for many years. This strategy allows me to take advantage of the stock market's upward bias over time and also compensates for my own fallibility. This is the game I think other investors should be playing too.\nFor the record, I'm a satisfied Skillz shareholder, and I believe it'sa company you should get to know. That said, I'd suggest investorsnotmake rash buying decisions based on social media hype. If Skillz is a great long-term opportunity, it will still be there afteryou've done some research.","news_type":1,"symbols_score_info":{"SKLZ":0.9}},"isVote":1,"tweetType":1,"viewCount":1688,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":816891107,"gmtCreate":1630484785609,"gmtModify":1633677739462,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"Good!","listText":"Good!","text":"Good!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/816891107","repostId":"1139912608","repostType":2,"repost":{"id":"1139912608","kind":"news","pubTimestamp":1630454249,"share":"https://www.laohu8.com/m/news/1139912608?lang=zh_CN&edition=full","pubTime":"2021-09-01 07:57","market":"us","language":"en","title":"Here's Why Skillz Stock Suddenly Spiked Today<blockquote>这就是Skillz股票今天突然飙升的原因</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1139912608","media":"Motley Fool","summary":"Someone just made a multimillion-dollar bet on this company.\n\nWhat happened\nShares of mobile-gaming ","content":"<p>  <b>Someone just made a multimillion-dollar bet on this company.</b>  <b>What happened</b></p><p><blockquote><b>有人刚刚在这家公司上下了数百万美元的赌注。</b><b>发生了什么</b></blockquote></p><p> Shares of mobile-gaming platform&nbsp;<b><a href=\"https://laohu8.com/S/SKLZ\">Skillz Inc</a></b> were trading modestly higher for most of Tuesday's session. But around 1:30 p.m. EDT, the stock suddenly spiked higher, seemingly out of nowhere. As of this writing, the stock is up 12%. After a little digging, it seems that some chatter on social news platform Reddit could be responsible for the jump.</p><p><blockquote>手机游戏平台股份<b><a href=\"https://laohu8.com/S/SKLZ\">斯基尔茨公司</a></b>周二交易的大部分时间都小幅走高。但下午1:30左右美国东部时间，该股突然飙升，似乎不知从哪里冒出来的。截至撰写本文时，该股已上涨12%。经过一番挖掘，社交新闻平台Reddit上的一些聊天似乎可能是这次跳跃的原因。</blockquote></p><p> <b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p> A Reddit user posted that they had purchased $4.8 million in Skillz stock.&nbsp;Normally, I'd be reluctant to mention something like this. But there's no other news from Skillz today. Moreover, the time of the Reddit post roughly corresponds to the jump in Skillz stock. Therefore, this possibility can't be dismissed.</p><p><blockquote>一位Reddit用户发帖称，他们购买了480万美元的Skillz股票。通常情况下，我不愿意提及这样的事情。但是今天Skillz没有其他消息。而且，Reddit发帖的时间大致对应于Skillz股票的上涨。因此，不能排除这种可能性。</blockquote></p><p> To be clear, one Reddit user likely can't move Skillz stock this much on their own. But as we've seen with other stocks in 2021, a strong vote of confidence on Reddit can inspire many other investors to also purchase shares. And this combined effort can cause a stock to make moves.</p><p><blockquote>需要明确的是，一个Reddit用户可能无法独自移动Skillz股票这么多。但正如我们在2021年对其他股票所看到的那样，Reddit上的强烈信任票可以激励许多其他投资者也购买股票。这种共同的努力可以导致股票出现波动。</blockquote></p><p> <b>Now what</b></p><p><blockquote><b>现在怎么办</b></blockquote></p><p> Wondering if you should join the new wave of Skillz investors? I'll leave you with two thoughts. First, I wouldn't recommend ever buying or selling a stock based solely on what someone else is doing. At a minimum, you should know what the company does, and you should have a basic understanding of how its business model can create shareholder value over time.</p><p><blockquote>想知道您是否应该加入新一波Skillz投资者？我留给你两个想法。首先，我不建议仅仅根据别人的所作所为来买卖股票。至少，你应该知道公司是做什么的，你应该对它的商业模式如何随着时间的推移创造股东价值有一个基本的了解。</blockquote></p><p> Second, remember that not everyone is playing the same game when it comes to the stock market. Someone might make a multimillion-dollar bet, but you don't know their personal financial situation or how long they plan to hold. When it comes to my approach, I'm interested in building adiversified portfolioof stocks that Ihold for many years. This strategy allows me to take advantage of the stock market's upward bias over time and also compensates for my own fallibility. This is the game I think other investors should be playing too.</p><p><blockquote>其次，请记住，在股市方面，并非每个人都在玩同样的游戏。有人可能会下数百万美元的赌注，但你不知道他们的个人财务状况，也不知道他们打算持有多长时间。就我的方法而言，我有兴趣建立我持有多年的多元化股票投资组合。这种策略使我能够利用股市随着时间的推移而上涨的趋势，也弥补了我自己的易错性。我认为其他投资者也应该玩这个游戏。</blockquote></p><p> For the record, I'm a satisfied Skillz shareholder, and I believe it'sa company you should get to know. That said, I'd suggest investors<i>not</i>make rash buying decisions based on social media hype. If Skillz is a great long-term opportunity, it will still be there afteryou've done some research.</p><p><blockquote>郑重声明，我是Skillz的满意股东，我相信这是一家您应该了解的公司。也就是说，我建议投资者<i>不</i>根据社交媒体的炒作做出轻率的购买决定。如果Skillz是一个很好的长期机会，那么在你做了一些研究之后，它仍然会存在。</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 Skillz Stock Suddenly Spiked Today<blockquote>这就是Skillz股票今天突然飙升的原因</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 Skillz Stock Suddenly Spiked Today<blockquote>这就是Skillz股票今天突然飙升的原因</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\">2021-09-01 07:57</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Someone just made a multimillion-dollar bet on this company.</b>  <b>What happened</b></p><p><blockquote><b>有人刚刚在这家公司上下了数百万美元的赌注。</b><b>发生了什么</b></blockquote></p><p> Shares of mobile-gaming platform&nbsp;<b><a href=\"https://laohu8.com/S/SKLZ\">Skillz Inc</a></b> were trading modestly higher for most of Tuesday's session. But around 1:30 p.m. EDT, the stock suddenly spiked higher, seemingly out of nowhere. As of this writing, the stock is up 12%. After a little digging, it seems that some chatter on social news platform Reddit could be responsible for the jump.</p><p><blockquote>手机游戏平台股份<b><a href=\"https://laohu8.com/S/SKLZ\">斯基尔茨公司</a></b>周二交易的大部分时间都小幅走高。但下午1:30左右美国东部时间，该股突然飙升，似乎不知从哪里冒出来的。截至撰写本文时，该股已上涨12%。经过一番挖掘，社交新闻平台Reddit上的一些聊天似乎可能是这次跳跃的原因。</blockquote></p><p> <b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p> A Reddit user posted that they had purchased $4.8 million in Skillz stock.&nbsp;Normally, I'd be reluctant to mention something like this. But there's no other news from Skillz today. Moreover, the time of the Reddit post roughly corresponds to the jump in Skillz stock. Therefore, this possibility can't be dismissed.</p><p><blockquote>一位Reddit用户发帖称，他们购买了480万美元的Skillz股票。通常情况下，我不愿意提及这样的事情。但是今天Skillz没有其他消息。而且，Reddit发帖的时间大致对应于Skillz股票的上涨。因此，不能排除这种可能性。</blockquote></p><p> To be clear, one Reddit user likely can't move Skillz stock this much on their own. But as we've seen with other stocks in 2021, a strong vote of confidence on Reddit can inspire many other investors to also purchase shares. And this combined effort can cause a stock to make moves.</p><p><blockquote>需要明确的是，一个Reddit用户可能无法独自移动Skillz股票这么多。但正如我们在2021年对其他股票所看到的那样，Reddit上的强烈信任票可以激励许多其他投资者也购买股票。这种共同的努力可以导致股票出现波动。</blockquote></p><p> <b>Now what</b></p><p><blockquote><b>现在怎么办</b></blockquote></p><p> Wondering if you should join the new wave of Skillz investors? I'll leave you with two thoughts. First, I wouldn't recommend ever buying or selling a stock based solely on what someone else is doing. At a minimum, you should know what the company does, and you should have a basic understanding of how its business model can create shareholder value over time.</p><p><blockquote>想知道您是否应该加入新一波Skillz投资者？我留给你两个想法。首先，我不建议仅仅根据别人的所作所为来买卖股票。至少，你应该知道公司是做什么的，你应该对它的商业模式如何随着时间的推移创造股东价值有一个基本的了解。</blockquote></p><p> Second, remember that not everyone is playing the same game when it comes to the stock market. Someone might make a multimillion-dollar bet, but you don't know their personal financial situation or how long they plan to hold. When it comes to my approach, I'm interested in building adiversified portfolioof stocks that Ihold for many years. This strategy allows me to take advantage of the stock market's upward bias over time and also compensates for my own fallibility. This is the game I think other investors should be playing too.</p><p><blockquote>其次，请记住，在股市方面，并非每个人都在玩同样的游戏。有人可能会下数百万美元的赌注，但你不知道他们的个人财务状况，也不知道他们打算持有多长时间。就我的方法而言，我有兴趣建立我持有多年的多元化股票投资组合。这种策略使我能够利用股市随着时间的推移而上涨的趋势，也弥补了我自己的易错性。我认为其他投资者也应该玩这个游戏。</blockquote></p><p> For the record, I'm a satisfied Skillz shareholder, and I believe it'sa company you should get to know. That said, I'd suggest investors<i>not</i>make rash buying decisions based on social media hype. If Skillz is a great long-term opportunity, it will still be there afteryou've done some research.</p><p><blockquote>郑重声明，我是Skillz的满意股东，我相信这是一家您应该了解的公司。也就是说，我建议投资者<i>不</i>根据社交媒体的炒作做出轻率的购买决定。如果Skillz是一个很好的长期机会，那么在你做了一些研究之后，它仍然会存在。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/08/31/heres-why-skillz-stock-suddenly-spiked-today/\">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":{"SKLZ":"Skillz Inc"},"source_url":"https://www.fool.com/investing/2021/08/31/heres-why-skillz-stock-suddenly-spiked-today/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139912608","content_text":"Someone just made a multimillion-dollar bet on this company.\n\nWhat happened\nShares of mobile-gaming platform Skillz Inc were trading modestly higher for most of Tuesday's session. But around 1:30 p.m. EDT, the stock suddenly spiked higher, seemingly out of nowhere. As of this writing, the stock is up 12%. After a little digging, it seems that some chatter on social news platform Reddit could be responsible for the jump.\nSo what\nA Reddit user posted that they had purchased $4.8 million in Skillz stock. Normally, I'd be reluctant to mention something like this. But there's no other news from Skillz today. Moreover, the time of the Reddit post roughly corresponds to the jump in Skillz stock. Therefore, this possibility can't be dismissed.\nTo be clear, one Reddit user likely can't move Skillz stock this much on their own. But as we've seen with other stocks in 2021, a strong vote of confidence on Reddit can inspire many other investors to also purchase shares. And this combined effort can cause a stock to make moves.\nNow what\nWondering if you should join the new wave of Skillz investors? I'll leave you with two thoughts. First, I wouldn't recommend ever buying or selling a stock based solely on what someone else is doing. At a minimum, you should know what the company does, and you should have a basic understanding of how its business model can create shareholder value over time.\nSecond, remember that not everyone is playing the same game when it comes to the stock market. Someone might make a multimillion-dollar bet, but you don't know their personal financial situation or how long they plan to hold. When it comes to my approach, I'm interested in building adiversified portfolioof stocks that Ihold for many years. This strategy allows me to take advantage of the stock market's upward bias over time and also compensates for my own fallibility. This is the game I think other investors should be playing too.\nFor the record, I'm a satisfied Skillz shareholder, and I believe it'sa company you should get to know. That said, I'd suggest investorsnotmake rash buying decisions based on social media hype. If Skillz is a great long-term opportunity, it will still be there afteryou've done some research.","news_type":1,"symbols_score_info":{"SKLZ":0.9}},"isVote":1,"tweetType":1,"viewCount":2453,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":811780497,"gmtCreate":1630352321119,"gmtModify":1704958906744,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/811780497","repostId":"1117774965","repostType":4,"isVote":1,"tweetType":1,"viewCount":3310,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":813808310,"gmtCreate":1630162650430,"gmtModify":1704956655760,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/813808310","repostId":"2162024053","repostType":4,"isVote":1,"tweetType":1,"viewCount":3800,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":813801209,"gmtCreate":1630162560901,"gmtModify":1704956654722,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/813801209","repostId":"2162733980","repostType":4,"isVote":1,"tweetType":1,"viewCount":1675,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":810706874,"gmtCreate":1630003215498,"gmtModify":1704954444983,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>tiger job opening. Posted yesterday! Tiger is expanding!&nbsp;","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>tiger job opening. Posted yesterday! Tiger is expanding!&nbsp;","text":"$Tiger Brokers(TIGR)$tiger job opening. Posted yesterday! Tiger is expanding!","images":[{"img":"https://static.tigerbbs.com/918c84cc6ae52c1f0ad06ec315f73aa2","width":"1284","height":"2778"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/810706874","isVote":1,"tweetType":1,"viewCount":2904,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3459571869788713","authorId":"3459571869788713","name":"Milkway","avatar":"https://static.tigerbbs.com/cdc973495e020a4af534f9849146c1ef","crmLevel":1,"crmLevelSwitch":0,"idStr":"3459571869788713","authorIdStr":"3459571869788713"},"content":"全都是新加坡，要在新加坡扎营了？","text":"全都是新加坡，要在新加坡扎营了？","html":"全都是新加坡，要在新加坡扎营了？"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":837799757,"gmtCreate":1629913083379,"gmtModify":1633681516584,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"Great!&nbsp;","listText":"Great!&nbsp;","text":"Great!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/837799757","repostId":"2162087564","repostType":4,"isVote":1,"tweetType":1,"viewCount":2454,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":835707806,"gmtCreate":1629738951305,"gmtModify":1633682801420,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>anyone notices the unusual option activities with bullish sentiment&nbsp;for the&nbsp;past few days? What does it mean?&nbsp;","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>anyone notices the unusual option activities with bullish sentiment&nbsp;for the&nbsp;past few days? What does it mean?&nbsp;","text":"$Tiger Brokers(TIGR)$anyone notices the unusual option activities with bullish sentiment for the past few days? What does it mean?","images":[{"img":"https://static.tigerbbs.com/a4a52b93b4c0c62af49e1cf628adfaf6","width":"1284","height":"2424"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/835707806","isVote":1,"tweetType":1,"viewCount":2908,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":832875247,"gmtCreate":1629613047789,"gmtModify":1633683740476,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/832875247","repostId":"1133515985","repostType":4,"isVote":1,"tweetType":1,"viewCount":541,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832969205,"gmtCreate":1629560655107,"gmtModify":1633684038251,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/832969205","repostId":"1114812009","repostType":4,"isVote":1,"tweetType":1,"viewCount":789,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":831697045,"gmtCreate":1629309343587,"gmtModify":1633685797077,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"是的","listText":"是的","text":"是的","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/831697045","repostId":"831845481","repostType":1,"repost":{"id":831845481,"gmtCreate":1629303917443,"gmtModify":1633685816047,"author":{"id":"3561619960620770","authorId":"3561619960620770","name":"炒股就是炒预期","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561619960620770","authorIdStr":"3561619960620770"},"themes":[],"htmlText":"<a target=\"_blank\" href=\"https://laohu8.com/S/TIGR\">$老虎证券(TIGR)$</a> 今晚不跳，明天必上17","listText":"<a target=\"_blank\" href=\"https://laohu8.com/S/TIGR\">$老虎证券(TIGR)$</a> 今晚不跳，明天必上17","text":"$老虎证券(TIGR)$ 今晚不跳，明天必上17","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/831845481","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1520,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":831694030,"gmtCreate":1629309136420,"gmtModify":1633685797896,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/831694030","repostId":"831606145","repostType":1,"repost":{"id":831606145,"gmtCreate":1629306469387,"gmtModify":1629306469387,"author":{"id":"3495693900287878","authorId":"3495693900287878","name":"胜天壹子","avatar":"https://static.tigerbbs.com/9471de4d7143f843babd30f48306fa8c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3495693900287878","authorIdStr":"3495693900287878"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$老虎证券(TIGR)$</a>什么时候回来接我？","listText":"<a href=\"https://laohu8.com/S/TIGR\">$老虎证券(TIGR)$</a>什么时候回来接我？","text":"$老虎证券(TIGR)$什么时候回来接我？","images":[{"img":"https://static.tigerbbs.com/12e4f1db7659ec2e24a57af03d87e562","width":"750","height":"1068"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/831606145","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":904,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":830436679,"gmtCreate":1629088167991,"gmtModify":1633687487895,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"Wow!!","listText":"Wow!!","text":"Wow!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/830436679","repostId":"2159210175","repostType":4,"isVote":1,"tweetType":1,"viewCount":904,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":830393501,"gmtCreate":1629007785203,"gmtModify":1633687984034,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"Great!","listText":"Great!","text":"Great!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/830393501","repostId":"1196882604","repostType":4,"repost":{"id":"1196882604","kind":"news","pubTimestamp":1628898125,"share":"https://www.laohu8.com/m/news/1196882604?lang=zh_CN&edition=full","pubTime":"2021-08-14 07:42","market":"us","language":"en","title":"Palantir: 7 Interesting Things From The Q2 2021 Earnings Call<blockquote>Palantir：2021年第二季度收益看涨期权中的7件有趣的事情</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1196882604","media":"seekingalpha","summary":"Summary\n\nFirst, I briefly review the big news and highlights from PLTR's Q2 2021 business update.\nSe","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>First, I briefly review the big news and highlights from PLTR's Q2 2021 business update.</li>  <li>Second, I cover some of the details that are less well-known, including comments made by leadership on the earnings call.</li>  <li>Third, dive into some important details about Alex Karp's compensation, including his insider selling activity; leadership had a response prepared.</li>  <li>Lastly, I visit several metrics on my radar, including stock-based compensation, contribution margin, and deal value.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/028b3e3b1d2c99f3ee26f213c2fc069f\" tg-width=\"768\" tg-height=\"432\" referrerpolicy=\"no-referrer\"><span>zirconicusso/iStock via Getty Images</span></p><p><blockquote><ul><li>首先，我简要回顾一下PLTR 2021年第二季度业务更新中的重大新闻和亮点。</li><li>其次，我介绍了一些鲜为人知的细节，包括领导层对收益看涨期权的评论。</li><li>第三，深入了解亚历克斯·卡普薪酬的一些重要细节，包括他的内幕销售活动；领导层已经准备好了回应。</li><li>最后，我访问了我关注的几个指标，包括基于股票的薪酬、边际贡献和交易价值。</li></ul><p class=\"t-img-caption\"><span>zirconicusso/iStock来自Getty Images</span></p></blockquote></p><p> It's likely that you've already heard the news that Palantir (PLTR) just reported astrong Q2 2021. I'm certain there will be plenty of coverage of the empirical results, including the tremendous growth and&nbsp;increased cash flow outlook.</p><p><blockquote>您可能已经听说Palantir(PLTR)刚刚报告了2021年第二季度业绩强劲的消息。我确信将会有大量的实证结果报道，包括巨大的增长和增加的现金流前景。</blockquote></p><p> Here, I'll just highlight those numbers then I'll turn to a few things that came up directly on the earnings call that surprised me.</p><p><blockquote>在这里，我将重点介绍这些数字，然后我将转向收益看涨期权上直接出现的一些让我感到惊讶的事情。</blockquote></p><p> First, revenue was up 49%, beating the estimates. it's notable that commercial revenue was up an eye-popping 90%, because it's an area that bears have complained about. This mostly squashes the idea that PLTR is only driven by secret government contracts.</p><p><blockquote>首先，收入增长49%，超出预期。值得注意的是，商业收入增长了令人瞠目结舌的90%，因为这是看空者抱怨的领域。这在很大程度上粉碎了PLTR仅由秘密政府合同驱动的想法。</blockquote></p><p> Second, PLTR closed a ton of deals in Q2. Specifically, they scored 62 deals worth $1 million or more. I like this view:</p><p><blockquote>其次，PLTR在第二季度完成了大量交易。具体来说，他们达成了62笔价值100万美元或以上的交易。我喜欢这个观点：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/37ecc00151018d803161b75c01bb4571\" tg-width=\"640\" tg-height=\"320\" referrerpolicy=\"no-referrer\"><span>Source:Palantir Q2 2021 Business Update</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Palantir 2021年第二季度业务更新</span></p></blockquote></p><p> Of course, the YoY remaining deal value is interesting but I like the blunt look into the deal size, with&nbsp;<i>30 deals over $5 million and 21 deals over $10 million</i>, because it indicates an ever-spreading reach of customers. That's exactly what's required to drive long-term revenue growth, but also stability.</p><p><blockquote>当然，同比剩余交易价值很有趣，但我喜欢直率地看待交易规模，<i>30笔交易超过500万美元，21笔交易超过1000万美元</i>，因为它表明客户范围不断扩大。这正是推动长期收入增长和稳定性所需要的。</blockquote></p><p> Third, it's looking like Q3 is going to work out fairly well. Sales are projected to be about $5 million great than consensus. And, as I've already mentioned, PLTR raised its free cash flow outlook. To be clear, the jump is rather big, going from greater than $150 million to now greater than $300 million.</p><p><blockquote>第三，看起来第三季度的表现会相当不错。销售额预计比预期高出约500万美元。而且，正如我已经提到的，PLTR提高了自由现金流前景。需要明确的是，增幅相当大，从超过1.5亿美元增加到现在的超过3亿美元。</blockquote></p><p> I didn't see or hear much about changes in annual revenue growth, but one thing is crystal clear -<i>I do not expect growth to slow down</i>. And, per the presentation and earnings call, growth is expected at 30% or more this year, and then through 2025.</p><p><blockquote>我没有看到或听到太多关于年收入增长的变化，但有一点是非常清楚的——<i>我预计增长不会放缓</i>.而且，根据演示和收益看涨期权，预计今年的增长率将达到30%或更高，然后到2025年。</blockquote></p><p> Interestingly, revenue grew by 49% in Q1 YoY, generating $341 between government and commercial. And now, in Q2, revenue grew by 49% YoY to $376 million. That's two quarters in a row at 49%. It's for this reason that I stick by&nbsp;what I previously wrote about PLTR sandbagging:</p><p><blockquote>有趣的是，第一季度的收入同比增长了49%，政府和商业收入为341美元。现在，第二季度收入同比增长49%，达到3.76亿美元。这是连续两个季度达到49%。正是出于这个原因，我坚持我之前写的关于PLTR沙袋的内容：</blockquote></p><p>   In other words, when we start with $800 million for 2021, it's pretty obvious that the 30% growth doesn't cut it. We cannot reach $4 billion by 2025 with \"only\" 30% growth. PLTR is perhapss&nbsp;andbagging&nbsp;to keep expectations lower. It's hard to know for sure. It could also be that they expect faster growth in 2022 through 2025.  I'll have to dive in deeper in a future article to see exactly how current and future growth projections line up against the hard numbers that have come in. For now, my point is simply that they've set the bar at a reasonable albeit conservative level and seeing beats like this is not too shocking, but also encouraging.<i>They're managing Wall Street and the analysts fairly well.</i></p><p><blockquote>换句话说，当我们从2021年的8亿美元开始时，很明显30%的增长并不能削减它。如果“仅”增长30%，我们不可能在2025年达到40亿美元。PLTR可能会降低预期。很难确定。也可能是他们预计2022年至2025年的增长会更快。我将不得不在未来的文章中更深入地探讨当前和未来的增长预测与已经出现的硬数据之间的确切关系。就目前而言，我的观点很简单，他们已经将标准设定在一个合理但保守的水平，看到这样的节拍并不太令人震惊，但也令人鼓舞。<i>他们对华尔街和分析师的管理相当好。</i></blockquote></p><p> Fourth, in addition to new customer acquisition, the revenue dollar value for PLTR's top 20 customers continues to march upward.</p><p><blockquote>第四，除了新客户获取外，PLTR前20名客户的收入美元价值持续上升。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6fba540de7f84e50e602dc943d5e985f\" tg-width=\"640\" tg-height=\"357\" referrerpolicy=\"no-referrer\"><span>Source: Palantir Q2 2021 Business Update</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Palantir 2021年第二季度业务更新</span></p></blockquote></p><p> If it's not completely obvious, this is worth watching since it gives us some confidence that<i>customers are happy and they are sticking</i>. It's not a perfect indicator, but it's still pretty good since unhappy customers aren't going to keep paying PLTR, over and over. Other companies have a tendency to either focus too much on milking current \"cash cow\" customers or getting hyper aggressive about new customers. In the Q2 2021 update, we're seeing a great flow of new customers and then this indicator of growing long-term customer value. It's a delicate but critical balance. I'll continue to watch this in Q3.</p><p><blockquote>如果不是很明显，这是值得关注的，因为它给了我们一些信心<i>顾客很高兴，他们坚持下去</i>.这不是一个完美的指标，但它仍然很好，因为不满意的客户不会一遍又一遍地继续支付PLTR。其他公司倾向于要么过于关注榨取现有的“摇钱树”客户，要么对新客户过于咄咄逼人。在2021年第二季度的更新中，我们看到了大量的新客户，然后是长期客户价值不断增长的指标。这是一种微妙但关键的平衡。我会在第三季度继续看这个。</blockquote></p><p> Fifth,in Q1, we heard about \"Day Zero\" customers. Here's a taste:</p><p><blockquote>第五，在第一季度，我们听说了“零日”客户。这里有一个味道：</blockquote></p><p></p><p>   We are seeing opportunities for companies to build their digital infrastructure around foundry from day zero, where they can shave years off their ramps and mountains of risk off their roadmaps by cost efficiently standing on the shoulders of 15 years and more than $2 billion of R&amp;D. And we see this as the first salvo in expanding distribution of foundry to broader markets and a broader set of customers.  In Q2, PLTR leadership continued to push this theme, highlighting Roivant, Celularity and Wejo, for example. The idea is to get these companies using Foundry while they are just getting started, or otherwise very small. They're treating Foundry as the \"operating system\" of these businesses.</p><p><blockquote>我们看到了公司从第一天起就围绕foundry构建数字基础设施的机会，他们可以通过经济高效地站在15年和超过20亿美元的R&amp;D的肩膀上，减少数年的坡道和路线图上的风险。我们认为这是将foundry分销扩展到更广泛的市场和更广泛的客户的第一枪。在第二季度，PLTR领导层继续推动这一主题，例如强调Roivant、Celularity和Wejo。这个想法是让这些公司在刚刚起步或非常小的时候使用Foundry。他们将代工视为这些业务的“操作系统”。</blockquote></p><p> Supporting this thrust,<i>PLTR added another 60 sales hires</i>. If I recall correctly, they hired about 50 sales people in Q1, so they are steadily adding headcount in sales and marketing, without going gangbusters. That said, their pipeline is accelerating, with active commercial pilots up 26% since the end of April.</p><p><blockquote>支撑着这股推力，<i>PLTR又增加了60名销售人员</i>如果我没记错的话，他们在第一季度雇佣了大约50名销售人员，因此他们正在稳步增加销售和营销人员的数量，但并没有大幅增加。也就是说，他们的管道正在加速，自4月底以来，活跃的商业试点增加了26%。</blockquote></p><p> Sixth, I heard leadership quickly say that they have paid off what they owed, and that<i>PLTR is now debt free</i>. In a future article, I'll have to do a deeper dive, but I wanted to report it here since I have an affinity for extremely strong balance sheets. It's possible I didn't understand the comment on the call, but I'm pretty sure that I've got it right. I reviewed the Q2 2021 business presentation but didn't see any notes on this so I'll have to revisit this at a later point. But again, I think I've got it right, and it's great news.</p><p><blockquote>第六，我很快听到领导说他们已经还清了欠款，而且<i>PLTR现已无债务</i>.在以后的文章中，我将不得不进行更深入的探讨，但我想在这里报告它，因为我对极其强劲的资产负债表有一种亲和力。有可能我没有理解关于看涨期权的评论，但我很确定我是对的。我查看了Q2 2021年业务演示，但没有看到任何关于这方面的注释，因此我将不得不在稍后重新讨论这一点。但是，我想我做对了，这是个好消息。</blockquote></p><p> Lastly, there was a question about Alex Karp's executive compensation, and specifically about the relentless insider selling. Before I get to that, here's some quick background&nbsp;reported by CNBC back in April 2021:</p><p><blockquote>最后，还有一个关于亚历克斯·卡普的高管薪酬的问题，特别是关于无情的内幕交易。在我开始之前，先介绍一下CNBC在2021年4月报道的一些快速背景：</blockquote></p><p>   Palantir CEO Alex Karp earned compensation worth about $1.1 billion in 2020, primarily through equity awards granted shortly before his software company went public.In a proxy filing on Thursday, Palantir said the bulk of Karp’s pay was tied to options worth $797.9 million, with another $296.4 million for stock awards. The outsized package is the result of an equity incentive plan agreed upon last year, giving Karp 141 million options that begin vesting in August 2021. Each quarter, 2.5 percent of the equity will vest.  Now, here's just a quick peek about what that selling looks like:</p><p><blockquote>Palantir首席执行官Alex Karp在2020年获得了价值约11亿美元的薪酬，主要是通过其软件公司上市前不久授予的股权奖励。Palantir在周四提交的委托书中表示，卡普的大部分薪酬与价值7.979亿美元的期权挂钩，另外2.964亿美元用于股票奖励。这一巨额计划是去年达成的股权激励计划的结果，为卡普提供了1.41亿份期权，将于2021年8月开始归属。每个季度，2.5%的股权将归属。现在，让我们快速了解一下销售情况：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e9b2c725b59681121eec807c4650b5ad\" tg-width=\"640\" tg-height=\"295\" referrerpolicy=\"no-referrer\"><span>Source:Nasdaq</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：纳斯达克</span></p></blockquote></p><p> Obviously, the action here is pretty intense and it's why it was brought up for consideration. Now, for the sake of simplicity, I'm going to paraphrase the scripted response that was read out loud. In short, Alex Karp has a huge number of options. These options are \"old\" and apparently must be exercised now; I believe before the end of 2021. Furthermore, the selling is automatic, which seems to line up pretty well with the data I've captured above. In other words,<i>Karp's selling isn't because he's lost faith in the company</i>.</p><p><blockquote>显然，这里的行动是相当激烈的，这就是为什么它被提出来考虑。现在，为了简单起见，我将解释一下大声朗读的脚本响应。简而言之，亚历克斯·卡普有大量的选择。这些期权是“旧的”，显然现在必须行使；我相信在2021年底之前。此外，销售是自动的，这似乎与我上面捕获的数据非常一致。换句话说，<i>卡普的抛售并不是因为他对公司失去了信心</i>.</blockquote></p><p> Karp's salary is just over $1 million, which isn't too bad, but it's also not crazy. Clearly, PLTR stock and options are fueling his incredible compensation package. This is a bit frustrating to track, however, when the options vest, get exercised and then sold there are also tremendous taxes to pay. So, in part, Karp is necessarily working through the process of exercising long-term options, while handling tax obligations on a rational schedule.</p><p><blockquote>卡普的薪水刚刚超过100万美元，不算太差，但也不算疯狂。显然，PLTR股票和期权推动了他令人难以置信的薪酬方案。然而，跟踪这一点有点令人沮丧，当期权授予、行使然后出售时，还需要支付巨额税款。因此，在某种程度上，卡普必须完成行使长期期权的过程，同时按照合理的时间表处理纳税义务。</blockquote></p><p> Again, all of this is to say two things. Karp's made a ton of money but at the same time, he hasn't given up on PLTR. His selling doesn't say anything substantial about PLTR's future, in my opinion. It's his own mind-boggling personal finance process, that's on display in public as the CEO of PLTR.</p><p><blockquote>再说一次，所有这些都是在说两件事。卡普赚了很多钱，但与此同时，他并没有放弃PLTR。在我看来，他的出售并不能说明PLTR的未来有任何实质性的意义。这是他自己令人难以置信的个人理财流程，作为PLTR的首席执行官公开展示。</blockquote></p><p> Summarizing everything, PLTR had a strong quarter in Q3 2021 looks like it should be strong as well:</p><p><blockquote>总而言之，PLTR在2021年第三季度表现强劲，看起来也应该很强劲：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7e76043e7ef8c08556e6972aa0b37d66\" tg-width=\"640\" tg-height=\"286\" referrerpolicy=\"no-referrer\"><span>Source: Palantir Q2 2021 Business Update</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Palantir 2021年第二季度业务更新</span></p></blockquote></p><p> And, very quickly,per my previous article:</p><p><blockquote>而且，很快，根据我上一篇文章：</blockquote></p><p></p><p>   I'll be looking for a deceleration in stock-based compensation expenses. I'll be looking for strong growth in both government and commercial. I'll be looking at Q2 growth, given the high bar set with&nbsp;49% growth in Q1 2021. I'll be looking at total remaining deal value, which was about $2.8 billion at the end of Q1 (and up 40% YoY). I am expecting contribution margin to remain high, and hopefully over 60% in Q2.  <ul>  <li>Stock based compensation increased. I'll have to review this more closely in a future article. It's still a major thorn in my side. Virtually every chart has this phrase in the footnotes:<i>\"...excludes stock-based compensation and related employer payroll taxes.\"</i>It's my #1 issue with PLTR.</li>  <li>Q2 growth was excellent, as I've pointed out. Both government and commercial did well. And, long-term customers keep sticking and spending, more and more. I like what I'm seeing in terms of growth.</li>  <li>Deal value increased 63% to $3.4 billion. So, they did very well in that department. That gives us a glimpse into future sales and related growth.</li>  <li>Lastly, contribution margin didn't hit my big goal of 60%, but it still improved strongly to 58% in Q2 2021 from 55% in Q2 2020.</li> </ul></p><p><blockquote>我将寻求股票薪酬支出的减速。我将寻求政府和商业领域的强劲增长。考虑到2021年第一季度49%的高增长标准，我将关注第二季度的增长。我将关注剩余交易总价值，第一季度末约为28亿美元（同比增长40%）。我预计贡献率将保持在较高水平，希望在第二季度超过60%。<ul><li>基于股票的薪酬增加。我将在以后的文章中更仔细地回顾这一点。它仍然是我的眼中钉。几乎每张图表的脚注中都有这样的短语：<i>“……不包括股票薪酬和相关雇主工资税。”</i>这是我对PLTR的头号问题。</li><li>正如我所指出的，第二季度的增长非常出色。政府和商业都做得很好。而且，长期客户不断坚持和消费，越来越多。我喜欢我所看到的增长。</li><li>交易价值增长63%，达到34亿美元。所以，他们在那个部门做得很好。这让我们得以一窥未来的销售和相关增长。</li><li>最后，贡献率没有达到我60%的大目标，但仍从2020年第二季度的55%强劲提高到2021年第二季度的58%。</li></ul></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: 7 Interesting Things From The Q2 2021 Earnings Call<blockquote>Palantir：2021年第二季度收益看涨期权中的7件有趣的事情</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\">\nPalantir: 7 Interesting Things From The Q2 2021 Earnings Call<blockquote>Palantir：2021年第二季度收益看涨期权中的7件有趣的事情</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-08-14 07:42</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>First, I briefly review the big news and highlights from PLTR's Q2 2021 business update.</li>  <li>Second, I cover some of the details that are less well-known, including comments made by leadership on the earnings call.</li>  <li>Third, dive into some important details about Alex Karp's compensation, including his insider selling activity; leadership had a response prepared.</li>  <li>Lastly, I visit several metrics on my radar, including stock-based compensation, contribution margin, and deal value.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/028b3e3b1d2c99f3ee26f213c2fc069f\" tg-width=\"768\" tg-height=\"432\" referrerpolicy=\"no-referrer\"><span>zirconicusso/iStock via Getty Images</span></p><p><blockquote><ul><li>首先，我简要回顾一下PLTR 2021年第二季度业务更新中的重大新闻和亮点。</li><li>其次，我介绍了一些鲜为人知的细节，包括领导层对收益看涨期权的评论。</li><li>第三，深入了解亚历克斯·卡普薪酬的一些重要细节，包括他的内幕销售活动；领导层已经准备好了回应。</li><li>最后，我访问了我关注的几个指标，包括基于股票的薪酬、边际贡献和交易价值。</li></ul><p class=\"t-img-caption\"><span>zirconicusso/iStock来自Getty Images</span></p></blockquote></p><p> It's likely that you've already heard the news that Palantir (PLTR) just reported astrong Q2 2021. I'm certain there will be plenty of coverage of the empirical results, including the tremendous growth and&nbsp;increased cash flow outlook.</p><p><blockquote>您可能已经听说Palantir(PLTR)刚刚报告了2021年第二季度业绩强劲的消息。我确信将会有大量的实证结果报道，包括巨大的增长和增加的现金流前景。</blockquote></p><p> Here, I'll just highlight those numbers then I'll turn to a few things that came up directly on the earnings call that surprised me.</p><p><blockquote>在这里，我将重点介绍这些数字，然后我将转向收益看涨期权上直接出现的一些让我感到惊讶的事情。</blockquote></p><p> First, revenue was up 49%, beating the estimates. it's notable that commercial revenue was up an eye-popping 90%, because it's an area that bears have complained about. This mostly squashes the idea that PLTR is only driven by secret government contracts.</p><p><blockquote>首先，收入增长49%，超出预期。值得注意的是，商业收入增长了令人瞠目结舌的90%，因为这是看空者抱怨的领域。这在很大程度上粉碎了PLTR仅由秘密政府合同驱动的想法。</blockquote></p><p> Second, PLTR closed a ton of deals in Q2. Specifically, they scored 62 deals worth $1 million or more. I like this view:</p><p><blockquote>其次，PLTR在第二季度完成了大量交易。具体来说，他们达成了62笔价值100万美元或以上的交易。我喜欢这个观点：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/37ecc00151018d803161b75c01bb4571\" tg-width=\"640\" tg-height=\"320\" referrerpolicy=\"no-referrer\"><span>Source:Palantir Q2 2021 Business Update</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Palantir 2021年第二季度业务更新</span></p></blockquote></p><p> Of course, the YoY remaining deal value is interesting but I like the blunt look into the deal size, with&nbsp;<i>30 deals over $5 million and 21 deals over $10 million</i>, because it indicates an ever-spreading reach of customers. That's exactly what's required to drive long-term revenue growth, but also stability.</p><p><blockquote>当然，同比剩余交易价值很有趣，但我喜欢直率地看待交易规模，<i>30笔交易超过500万美元，21笔交易超过1000万美元</i>，因为它表明客户范围不断扩大。这正是推动长期收入增长和稳定性所需要的。</blockquote></p><p> Third, it's looking like Q3 is going to work out fairly well. Sales are projected to be about $5 million great than consensus. And, as I've already mentioned, PLTR raised its free cash flow outlook. To be clear, the jump is rather big, going from greater than $150 million to now greater than $300 million.</p><p><blockquote>第三，看起来第三季度的表现会相当不错。销售额预计比预期高出约500万美元。而且，正如我已经提到的，PLTR提高了自由现金流前景。需要明确的是，增幅相当大，从超过1.5亿美元增加到现在的超过3亿美元。</blockquote></p><p> I didn't see or hear much about changes in annual revenue growth, but one thing is crystal clear -<i>I do not expect growth to slow down</i>. And, per the presentation and earnings call, growth is expected at 30% or more this year, and then through 2025.</p><p><blockquote>我没有看到或听到太多关于年收入增长的变化，但有一点是非常清楚的——<i>我预计增长不会放缓</i>.而且，根据演示和收益看涨期权，预计今年的增长率将达到30%或更高，然后到2025年。</blockquote></p><p> Interestingly, revenue grew by 49% in Q1 YoY, generating $341 between government and commercial. And now, in Q2, revenue grew by 49% YoY to $376 million. That's two quarters in a row at 49%. It's for this reason that I stick by&nbsp;what I previously wrote about PLTR sandbagging:</p><p><blockquote>有趣的是，第一季度的收入同比增长了49%，政府和商业收入为341美元。现在，第二季度收入同比增长49%，达到3.76亿美元。这是连续两个季度达到49%。正是出于这个原因，我坚持我之前写的关于PLTR沙袋的内容：</blockquote></p><p>   In other words, when we start with $800 million for 2021, it's pretty obvious that the 30% growth doesn't cut it. We cannot reach $4 billion by 2025 with \"only\" 30% growth. PLTR is perhapss&nbsp;andbagging&nbsp;to keep expectations lower. It's hard to know for sure. It could also be that they expect faster growth in 2022 through 2025.  I'll have to dive in deeper in a future article to see exactly how current and future growth projections line up against the hard numbers that have come in. For now, my point is simply that they've set the bar at a reasonable albeit conservative level and seeing beats like this is not too shocking, but also encouraging.<i>They're managing Wall Street and the analysts fairly well.</i></p><p><blockquote>换句话说，当我们从2021年的8亿美元开始时，很明显30%的增长并不能削减它。如果“仅”增长30%，我们不可能在2025年达到40亿美元。PLTR可能会降低预期。很难确定。也可能是他们预计2022年至2025年的增长会更快。我将不得不在未来的文章中更深入地探讨当前和未来的增长预测与已经出现的硬数据之间的确切关系。就目前而言，我的观点很简单，他们已经将标准设定在一个合理但保守的水平，看到这样的节拍并不太令人震惊，但也令人鼓舞。<i>他们对华尔街和分析师的管理相当好。</i></blockquote></p><p> Fourth, in addition to new customer acquisition, the revenue dollar value for PLTR's top 20 customers continues to march upward.</p><p><blockquote>第四，除了新客户获取外，PLTR前20名客户的收入美元价值持续上升。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6fba540de7f84e50e602dc943d5e985f\" tg-width=\"640\" tg-height=\"357\" referrerpolicy=\"no-referrer\"><span>Source: Palantir Q2 2021 Business Update</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Palantir 2021年第二季度业务更新</span></p></blockquote></p><p> If it's not completely obvious, this is worth watching since it gives us some confidence that<i>customers are happy and they are sticking</i>. It's not a perfect indicator, but it's still pretty good since unhappy customers aren't going to keep paying PLTR, over and over. Other companies have a tendency to either focus too much on milking current \"cash cow\" customers or getting hyper aggressive about new customers. In the Q2 2021 update, we're seeing a great flow of new customers and then this indicator of growing long-term customer value. It's a delicate but critical balance. I'll continue to watch this in Q3.</p><p><blockquote>如果不是很明显，这是值得关注的，因为它给了我们一些信心<i>顾客很高兴，他们坚持下去</i>.这不是一个完美的指标，但它仍然很好，因为不满意的客户不会一遍又一遍地继续支付PLTR。其他公司倾向于要么过于关注榨取现有的“摇钱树”客户，要么对新客户过于咄咄逼人。在2021年第二季度的更新中，我们看到了大量的新客户，然后是长期客户价值不断增长的指标。这是一种微妙但关键的平衡。我会在第三季度继续看这个。</blockquote></p><p> Fifth,in Q1, we heard about \"Day Zero\" customers. Here's a taste:</p><p><blockquote>第五，在第一季度，我们听说了“零日”客户。这里有一个味道：</blockquote></p><p></p><p>   We are seeing opportunities for companies to build their digital infrastructure around foundry from day zero, where they can shave years off their ramps and mountains of risk off their roadmaps by cost efficiently standing on the shoulders of 15 years and more than $2 billion of R&amp;D. And we see this as the first salvo in expanding distribution of foundry to broader markets and a broader set of customers.  In Q2, PLTR leadership continued to push this theme, highlighting Roivant, Celularity and Wejo, for example. The idea is to get these companies using Foundry while they are just getting started, or otherwise very small. They're treating Foundry as the \"operating system\" of these businesses.</p><p><blockquote>我们看到了公司从第一天起就围绕foundry构建数字基础设施的机会，他们可以通过经济高效地站在15年和超过20亿美元的R&amp;D的肩膀上，减少数年的坡道和路线图上的风险。我们认为这是将foundry分销扩展到更广泛的市场和更广泛的客户的第一枪。在第二季度，PLTR领导层继续推动这一主题，例如强调Roivant、Celularity和Wejo。这个想法是让这些公司在刚刚起步或非常小的时候使用Foundry。他们将代工视为这些业务的“操作系统”。</blockquote></p><p> Supporting this thrust,<i>PLTR added another 60 sales hires</i>. If I recall correctly, they hired about 50 sales people in Q1, so they are steadily adding headcount in sales and marketing, without going gangbusters. That said, their pipeline is accelerating, with active commercial pilots up 26% since the end of April.</p><p><blockquote>支撑着这股推力，<i>PLTR又增加了60名销售人员</i>如果我没记错的话，他们在第一季度雇佣了大约50名销售人员，因此他们正在稳步增加销售和营销人员的数量，但并没有大幅增加。也就是说，他们的管道正在加速，自4月底以来，活跃的商业试点增加了26%。</blockquote></p><p> Sixth, I heard leadership quickly say that they have paid off what they owed, and that<i>PLTR is now debt free</i>. In a future article, I'll have to do a deeper dive, but I wanted to report it here since I have an affinity for extremely strong balance sheets. It's possible I didn't understand the comment on the call, but I'm pretty sure that I've got it right. I reviewed the Q2 2021 business presentation but didn't see any notes on this so I'll have to revisit this at a later point. But again, I think I've got it right, and it's great news.</p><p><blockquote>第六，我很快听到领导说他们已经还清了欠款，而且<i>PLTR现已无债务</i>.在以后的文章中，我将不得不进行更深入的探讨，但我想在这里报告它，因为我对极其强劲的资产负债表有一种亲和力。有可能我没有理解关于看涨期权的评论，但我很确定我是对的。我查看了Q2 2021年业务演示，但没有看到任何关于这方面的注释，因此我将不得不在稍后重新讨论这一点。但是，我想我做对了，这是个好消息。</blockquote></p><p> Lastly, there was a question about Alex Karp's executive compensation, and specifically about the relentless insider selling. Before I get to that, here's some quick background&nbsp;reported by CNBC back in April 2021:</p><p><blockquote>最后，还有一个关于亚历克斯·卡普的高管薪酬的问题，特别是关于无情的内幕交易。在我开始之前，先介绍一下CNBC在2021年4月报道的一些快速背景：</blockquote></p><p>   Palantir CEO Alex Karp earned compensation worth about $1.1 billion in 2020, primarily through equity awards granted shortly before his software company went public.In a proxy filing on Thursday, Palantir said the bulk of Karp’s pay was tied to options worth $797.9 million, with another $296.4 million for stock awards. The outsized package is the result of an equity incentive plan agreed upon last year, giving Karp 141 million options that begin vesting in August 2021. Each quarter, 2.5 percent of the equity will vest.  Now, here's just a quick peek about what that selling looks like:</p><p><blockquote>Palantir首席执行官Alex Karp在2020年获得了价值约11亿美元的薪酬，主要是通过其软件公司上市前不久授予的股权奖励。Palantir在周四提交的委托书中表示，卡普的大部分薪酬与价值7.979亿美元的期权挂钩，另外2.964亿美元用于股票奖励。这一巨额计划是去年达成的股权激励计划的结果，为卡普提供了1.41亿份期权，将于2021年8月开始归属。每个季度，2.5%的股权将归属。现在，让我们快速了解一下销售情况：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e9b2c725b59681121eec807c4650b5ad\" tg-width=\"640\" tg-height=\"295\" referrerpolicy=\"no-referrer\"><span>Source:Nasdaq</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：纳斯达克</span></p></blockquote></p><p> Obviously, the action here is pretty intense and it's why it was brought up for consideration. Now, for the sake of simplicity, I'm going to paraphrase the scripted response that was read out loud. In short, Alex Karp has a huge number of options. These options are \"old\" and apparently must be exercised now; I believe before the end of 2021. Furthermore, the selling is automatic, which seems to line up pretty well with the data I've captured above. In other words,<i>Karp's selling isn't because he's lost faith in the company</i>.</p><p><blockquote>显然，这里的行动是相当激烈的，这就是为什么它被提出来考虑。现在，为了简单起见，我将解释一下大声朗读的脚本响应。简而言之，亚历克斯·卡普有大量的选择。这些期权是“旧的”，显然现在必须行使；我相信在2021年底之前。此外，销售是自动的，这似乎与我上面捕获的数据非常一致。换句话说，<i>卡普的抛售并不是因为他对公司失去了信心</i>.</blockquote></p><p> Karp's salary is just over $1 million, which isn't too bad, but it's also not crazy. Clearly, PLTR stock and options are fueling his incredible compensation package. This is a bit frustrating to track, however, when the options vest, get exercised and then sold there are also tremendous taxes to pay. So, in part, Karp is necessarily working through the process of exercising long-term options, while handling tax obligations on a rational schedule.</p><p><blockquote>卡普的薪水刚刚超过100万美元，不算太差，但也不算疯狂。显然，PLTR股票和期权推动了他令人难以置信的薪酬方案。然而，跟踪这一点有点令人沮丧，当期权授予、行使然后出售时，还需要支付巨额税款。因此，在某种程度上，卡普必须完成行使长期期权的过程，同时按照合理的时间表处理纳税义务。</blockquote></p><p> Again, all of this is to say two things. Karp's made a ton of money but at the same time, he hasn't given up on PLTR. His selling doesn't say anything substantial about PLTR's future, in my opinion. It's his own mind-boggling personal finance process, that's on display in public as the CEO of PLTR.</p><p><blockquote>再说一次，所有这些都是在说两件事。卡普赚了很多钱，但与此同时，他并没有放弃PLTR。在我看来，他的出售并不能说明PLTR的未来有任何实质性的意义。这是他自己令人难以置信的个人理财流程，作为PLTR的首席执行官公开展示。</blockquote></p><p> Summarizing everything, PLTR had a strong quarter in Q3 2021 looks like it should be strong as well:</p><p><blockquote>总而言之，PLTR在2021年第三季度表现强劲，看起来也应该很强劲：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7e76043e7ef8c08556e6972aa0b37d66\" tg-width=\"640\" tg-height=\"286\" referrerpolicy=\"no-referrer\"><span>Source: Palantir Q2 2021 Business Update</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Palantir 2021年第二季度业务更新</span></p></blockquote></p><p> And, very quickly,per my previous article:</p><p><blockquote>而且，很快，根据我上一篇文章：</blockquote></p><p></p><p>   I'll be looking for a deceleration in stock-based compensation expenses. I'll be looking for strong growth in both government and commercial. I'll be looking at Q2 growth, given the high bar set with&nbsp;49% growth in Q1 2021. I'll be looking at total remaining deal value, which was about $2.8 billion at the end of Q1 (and up 40% YoY). I am expecting contribution margin to remain high, and hopefully over 60% in Q2.  <ul>  <li>Stock based compensation increased. I'll have to review this more closely in a future article. It's still a major thorn in my side. Virtually every chart has this phrase in the footnotes:<i>\"...excludes stock-based compensation and related employer payroll taxes.\"</i>It's my #1 issue with PLTR.</li>  <li>Q2 growth was excellent, as I've pointed out. Both government and commercial did well. And, long-term customers keep sticking and spending, more and more. I like what I'm seeing in terms of growth.</li>  <li>Deal value increased 63% to $3.4 billion. So, they did very well in that department. That gives us a glimpse into future sales and related growth.</li>  <li>Lastly, contribution margin didn't hit my big goal of 60%, but it still improved strongly to 58% in Q2 2021 from 55% in Q2 2020.</li> </ul></p><p><blockquote>我将寻求股票薪酬支出的减速。我将寻求政府和商业领域的强劲增长。考虑到2021年第一季度49%的高增长标准，我将关注第二季度的增长。我将关注剩余交易总价值，第一季度末约为28亿美元（同比增长40%）。我预计贡献率将保持在较高水平，希望在第二季度超过60%。<ul><li>基于股票的薪酬增加。我将在以后的文章中更仔细地回顾这一点。它仍然是我的眼中钉。几乎每张图表的脚注中都有这样的短语：<i>“……不包括股票薪酬和相关雇主工资税。”</i>这是我对PLTR的头号问题。</li><li>正如我所指出的，第二季度的增长非常出色。政府和商业都做得很好。而且，长期客户不断坚持和消费，越来越多。我喜欢我所看到的增长。</li><li>交易价值增长63%，达到34亿美元。所以，他们在那个部门做得很好。这让我们得以一窥未来的销售和相关增长。</li><li>最后，贡献率没有达到我60%的大目标，但仍从2020年第二季度的55%强劲提高到2021年第二季度的58%。</li></ul></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4448920-palantir-seven-interesting-things-from-q2-2021-earnings-call\">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":{"PLTR":"Palantir Technologies Inc."},"source_url":"https://seekingalpha.com/article/4448920-palantir-seven-interesting-things-from-q2-2021-earnings-call","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1196882604","content_text":"Summary\n\nFirst, I briefly review the big news and highlights from PLTR's Q2 2021 business update.\nSecond, I cover some of the details that are less well-known, including comments made by leadership on the earnings call.\nThird, dive into some important details about Alex Karp's compensation, including his insider selling activity; leadership had a response prepared.\nLastly, I visit several metrics on my radar, including stock-based compensation, contribution margin, and deal value.\n\nzirconicusso/iStock via Getty Images\nIt's likely that you've already heard the news that Palantir (PLTR) just reported astrong Q2 2021. I'm certain there will be plenty of coverage of the empirical results, including the tremendous growth and increased cash flow outlook.\nHere, I'll just highlight those numbers then I'll turn to a few things that came up directly on the earnings call that surprised me.\nFirst, revenue was up 49%, beating the estimates. it's notable that commercial revenue was up an eye-popping 90%, because it's an area that bears have complained about. This mostly squashes the idea that PLTR is only driven by secret government contracts.\nSecond, PLTR closed a ton of deals in Q2. Specifically, they scored 62 deals worth $1 million or more. I like this view:\nSource:Palantir Q2 2021 Business Update\nOf course, the YoY remaining deal value is interesting but I like the blunt look into the deal size, with 30 deals over $5 million and 21 deals over $10 million, because it indicates an ever-spreading reach of customers. That's exactly what's required to drive long-term revenue growth, but also stability.\nThird, it's looking like Q3 is going to work out fairly well. Sales are projected to be about $5 million great than consensus. And, as I've already mentioned, PLTR raised its free cash flow outlook. To be clear, the jump is rather big, going from greater than $150 million to now greater than $300 million.\nI didn't see or hear much about changes in annual revenue growth, but one thing is crystal clear -I do not expect growth to slow down. And, per the presentation and earnings call, growth is expected at 30% or more this year, and then through 2025.\nInterestingly, revenue grew by 49% in Q1 YoY, generating $341 between government and commercial. And now, in Q2, revenue grew by 49% YoY to $376 million. That's two quarters in a row at 49%. It's for this reason that I stick by what I previously wrote about PLTR sandbagging:\n\n In other words, when we start with $800 million for 2021, it's pretty obvious that the 30% growth doesn't cut it. We cannot reach $4 billion by 2025 with \"only\" 30% growth. PLTR is perhapss andbagging to keep expectations lower. It's hard to know for sure. It could also be that they expect faster growth in 2022 through 2025.\n\nI'll have to dive in deeper in a future article to see exactly how current and future growth projections line up against the hard numbers that have come in. For now, my point is simply that they've set the bar at a reasonable albeit conservative level and seeing beats like this is not too shocking, but also encouraging.They're managing Wall Street and the analysts fairly well.\nFourth, in addition to new customer acquisition, the revenue dollar value for PLTR's top 20 customers continues to march upward.\nSource: Palantir Q2 2021 Business Update\nIf it's not completely obvious, this is worth watching since it gives us some confidence thatcustomers are happy and they are sticking. It's not a perfect indicator, but it's still pretty good since unhappy customers aren't going to keep paying PLTR, over and over. Other companies have a tendency to either focus too much on milking current \"cash cow\" customers or getting hyper aggressive about new customers. In the Q2 2021 update, we're seeing a great flow of new customers and then this indicator of growing long-term customer value. It's a delicate but critical balance. I'll continue to watch this in Q3.\nFifth,in Q1, we heard about \"Day Zero\" customers. Here's a taste:\n\n We are seeing opportunities for companies to build their digital infrastructure around foundry from day zero, where they can shave years off their ramps and mountains of risk off their roadmaps by cost efficiently standing on the shoulders of 15 years and more than $2 billion of R&D. And we see this as the first salvo in expanding distribution of foundry to broader markets and a broader set of customers.\n\nIn Q2, PLTR leadership continued to push this theme, highlighting Roivant, Celularity and Wejo, for example. The idea is to get these companies using Foundry while they are just getting started, or otherwise very small. They're treating Foundry as the \"operating system\" of these businesses.\nSupporting this thrust,PLTR added another 60 sales hires. If I recall correctly, they hired about 50 sales people in Q1, so they are steadily adding headcount in sales and marketing, without going gangbusters. That said, their pipeline is accelerating, with active commercial pilots up 26% since the end of April.\nSixth, I heard leadership quickly say that they have paid off what they owed, and thatPLTR is now debt free. In a future article, I'll have to do a deeper dive, but I wanted to report it here since I have an affinity for extremely strong balance sheets. It's possible I didn't understand the comment on the call, but I'm pretty sure that I've got it right. I reviewed the Q2 2021 business presentation but didn't see any notes on this so I'll have to revisit this at a later point. But again, I think I've got it right, and it's great news.\nLastly, there was a question about Alex Karp's executive compensation, and specifically about the relentless insider selling. Before I get to that, here's some quick background reported by CNBC back in April 2021:\n\n Palantir CEO Alex Karp earned compensation worth about $1.1 billion in 2020, primarily through equity awards granted shortly before his software company went public.In a proxy filing on Thursday, Palantir said the bulk of Karp’s pay was tied to options worth $797.9 million, with another $296.4 million for stock awards. The outsized package is the result of an equity incentive plan agreed upon last year, giving Karp 141 million options that begin vesting in August 2021. Each quarter, 2.5 percent of the equity will vest.\n\nNow, here's just a quick peek about what that selling looks like:\nSource:Nasdaq\nObviously, the action here is pretty intense and it's why it was brought up for consideration. Now, for the sake of simplicity, I'm going to paraphrase the scripted response that was read out loud. In short, Alex Karp has a huge number of options. These options are \"old\" and apparently must be exercised now; I believe before the end of 2021. Furthermore, the selling is automatic, which seems to line up pretty well with the data I've captured above. In other words,Karp's selling isn't because he's lost faith in the company.\nKarp's salary is just over $1 million, which isn't too bad, but it's also not crazy. Clearly, PLTR stock and options are fueling his incredible compensation package. This is a bit frustrating to track, however, when the options vest, get exercised and then sold there are also tremendous taxes to pay. So, in part, Karp is necessarily working through the process of exercising long-term options, while handling tax obligations on a rational schedule.\nAgain, all of this is to say two things. Karp's made a ton of money but at the same time, he hasn't given up on PLTR. His selling doesn't say anything substantial about PLTR's future, in my opinion. It's his own mind-boggling personal finance process, that's on display in public as the CEO of PLTR.\nSummarizing everything, PLTR had a strong quarter in Q3 2021 looks like it should be strong as well:\nSource: Palantir Q2 2021 Business Update\nAnd, very quickly,per my previous article:\n\n I'll be looking for a deceleration in stock-based compensation expenses. I'll be looking for strong growth in both government and commercial. I'll be looking at Q2 growth, given the high bar set with 49% growth in Q1 2021. I'll be looking at total remaining deal value, which was about $2.8 billion at the end of Q1 (and up 40% YoY). I am expecting contribution margin to remain high, and hopefully over 60% in Q2.\n\n\nStock based compensation increased. I'll have to review this more closely in a future article. It's still a major thorn in my side. Virtually every chart has this phrase in the footnotes:\"...excludes stock-based compensation and related employer payroll taxes.\"It's my #1 issue with PLTR.\nQ2 growth was excellent, as I've pointed out. Both government and commercial did well. And, long-term customers keep sticking and spending, more and more. I like what I'm seeing in terms of growth.\nDeal value increased 63% to $3.4 billion. So, they did very well in that department. That gives us a glimpse into future sales and related growth.\nLastly, contribution margin didn't hit my big goal of 60%, but it still improved strongly to 58% in Q2 2021 from 55% in Q2 2020.","news_type":1,"symbols_score_info":{"PLTR":0.9}},"isVote":1,"tweetType":1,"viewCount":751,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":897588880,"gmtCreate":1628943024240,"gmtModify":1633688372784,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/897588880","repostId":"2159321505","repostType":4,"repost":{"id":"2159321505","kind":"highlight","pubTimestamp":1628911811,"share":"https://www.laohu8.com/m/news/2159321505?lang=zh_CN&edition=full","pubTime":"2021-08-14 11:30","market":"us","language":"en","title":"Tesla seeks to reduce board members’ terms, make other changes in October shareholder meeting<blockquote>特斯拉寻求缩短董事会成员任期，并在十月股东大会上做出其他改变</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2159321505","media":"MarketWatch","summary":"Board members would serve for two years rather than three\nTesla CEO Elon Musk in Germany last year. ","content":"<p>Board members would serve for two years rather than three</p><p><blockquote>董事会成员的任期为两年，而不是三年</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/abc701f141f0c0044cabe912e510fe2e\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>Tesla CEO Elon Musk in Germany last year. MAJA HITIJ/GETTY IMAGES</span></p><p><blockquote><p class=\"t-img-caption\"><span>特斯拉首席执行官Elon Musk去年在德国。玛雅·希蒂吉/盖蒂图片社</span></p></blockquote></p><p> Tesla Inc. set its shareholder meeting for Oct. 7 at the Fremont, Calif., factory, with a call for reducing its directors’ terms among the proposals the electric-car maker will bring to the table, the company said in filing late Friday.</p><p><blockquote>特斯拉公司在周五晚间提交的文件中表示，该公司将于10月7日在加州弗里蒙特工厂举行股东大会，该公司将提出的提案包括缩短董事任期的看涨期权。</blockquote></p><p> One of the proposals calls for each director’s term to be reduced from three years to two years. Tesla’s&nbsp;board currently has nine members who are divided into three classes in staggered three-year terms.</p><p><blockquote>其中一项建议是评级将每名董事的任期从三年减至两年。特斯拉董事会目前有九名成员，分为三类，任期三年。</blockquote></p><p> If the proposal is approved, however, the board will be divided into two classes with staggered two-year terms, with directors distributed as equally between the classes as possible, Tesla said in the&nbsp;filing.</p><p><blockquote>然而，特斯拉在文件中表示，如果该提案获得批准，董事会将分为两个任期交错的类别，董事在两个类别之间的分布尽可能平均。</blockquote></p><p> The board would be reduced to eight members, since Antonio Gracias, a venture capitalist who has served on the Tesla board since 2007, said in 2019 he’d not be seeking reelection when his term ends this year.</p><p><blockquote>自2007年以来一直在特斯拉董事会任职的风险投资家Antonio Gracias在2019年表示，今年任期结束后，他不会寻求连任，董事会成员将减少至8名。</blockquote></p><p> Tesla’s board nominated current board members James Murdoch, the youngest son of News Corp&nbsp;founder Rupert Murdoch, and Kimbal Musk, Chief Executive Elon Musk’s brother, for re-election as class II directors, with terms expiring in 2024. If the term reduction is approved, then their terms would end in 2023, the company said.</p><p><blockquote>特斯拉董事会提名现任董事会成员、新闻集团创始人默多克的小儿子默多克（James Murdoch）和首席执行官马斯克（Elon Musk）的哥哥马斯克（Kimbal Musk）连任二级董事，任期将于2024年届满。该公司表示，如果期限缩减获得批准，那么他们的期限将于2023年结束。</blockquote></p><p> Tesla’s curtailing board member terms was a response to a shareholder proposal calling to elect each board member for one year.</p><p><blockquote>特斯拉缩短董事会成员任期是对股东提议选举每位董事会成员一年的回应。</blockquote></p><p> The two-year term, however, “strikes a suitable balance to the long-term interests of and nearer-term accountability to our stockholders at this time,” Tesla said.</p><p><blockquote>然而，特斯拉表示，两年任期“在股东的长期利益和近期责任之间取得了适当的平衡”。</blockquote></p><p> Tesla shares were flat in after-hours trading after ending the regular trading day down 0.7%. The stock has gained 1.6% this year, compared with gains of around 19% for the S&amp;P 500 index.</p><p><blockquote>特斯拉股价在常规交易日收盘下跌0.7%后，在盘后交易中持平。该股今年已上涨1.6%，而标普500指数的涨幅约为19%。</blockquote></p><p></p>","source":"lsy1603348471595","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 seeks to reduce board members’ terms, make other changes in October shareholder meeting<blockquote>特斯拉寻求缩短董事会成员任期，并在十月股东大会上做出其他改变</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 seeks to reduce board members’ terms, make other changes in October shareholder meeting<blockquote>特斯拉寻求缩短董事会成员任期，并在十月股东大会上做出其他改变</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-14 11:30</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Board members would serve for two years rather than three</p><p><blockquote>董事会成员的任期为两年，而不是三年</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/abc701f141f0c0044cabe912e510fe2e\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>Tesla CEO Elon Musk in Germany last year. MAJA HITIJ/GETTY IMAGES</span></p><p><blockquote><p class=\"t-img-caption\"><span>特斯拉首席执行官Elon Musk去年在德国。玛雅·希蒂吉/盖蒂图片社</span></p></blockquote></p><p> Tesla Inc. set its shareholder meeting for Oct. 7 at the Fremont, Calif., factory, with a call for reducing its directors’ terms among the proposals the electric-car maker will bring to the table, the company said in filing late Friday.</p><p><blockquote>特斯拉公司在周五晚间提交的文件中表示，该公司将于10月7日在加州弗里蒙特工厂举行股东大会，该公司将提出的提案包括缩短董事任期的看涨期权。</blockquote></p><p> One of the proposals calls for each director’s term to be reduced from three years to two years. Tesla’s&nbsp;board currently has nine members who are divided into three classes in staggered three-year terms.</p><p><blockquote>其中一项建议是评级将每名董事的任期从三年减至两年。特斯拉董事会目前有九名成员，分为三类，任期三年。</blockquote></p><p> If the proposal is approved, however, the board will be divided into two classes with staggered two-year terms, with directors distributed as equally between the classes as possible, Tesla said in the&nbsp;filing.</p><p><blockquote>然而，特斯拉在文件中表示，如果该提案获得批准，董事会将分为两个任期交错的类别，董事在两个类别之间的分布尽可能平均。</blockquote></p><p> The board would be reduced to eight members, since Antonio Gracias, a venture capitalist who has served on the Tesla board since 2007, said in 2019 he’d not be seeking reelection when his term ends this year.</p><p><blockquote>自2007年以来一直在特斯拉董事会任职的风险投资家Antonio Gracias在2019年表示，今年任期结束后，他不会寻求连任，董事会成员将减少至8名。</blockquote></p><p> Tesla’s board nominated current board members James Murdoch, the youngest son of News Corp&nbsp;founder Rupert Murdoch, and Kimbal Musk, Chief Executive Elon Musk’s brother, for re-election as class II directors, with terms expiring in 2024. If the term reduction is approved, then their terms would end in 2023, the company said.</p><p><blockquote>特斯拉董事会提名现任董事会成员、新闻集团创始人默多克的小儿子默多克（James Murdoch）和首席执行官马斯克（Elon Musk）的哥哥马斯克（Kimbal Musk）连任二级董事，任期将于2024年届满。该公司表示，如果期限缩减获得批准，那么他们的期限将于2023年结束。</blockquote></p><p> Tesla’s curtailing board member terms was a response to a shareholder proposal calling to elect each board member for one year.</p><p><blockquote>特斯拉缩短董事会成员任期是对股东提议选举每位董事会成员一年的回应。</blockquote></p><p> The two-year term, however, “strikes a suitable balance to the long-term interests of and nearer-term accountability to our stockholders at this time,” Tesla said.</p><p><blockquote>然而，特斯拉表示，两年任期“在股东的长期利益和近期责任之间取得了适当的平衡”。</blockquote></p><p> Tesla shares were flat in after-hours trading after ending the regular trading day down 0.7%. The stock has gained 1.6% this year, compared with gains of around 19% for the S&amp;P 500 index.</p><p><blockquote>特斯拉股价在常规交易日收盘下跌0.7%后，在盘后交易中持平。该股今年已上涨1.6%，而标普500指数的涨幅约为19%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/tesla-seeks-to-reduce-board-terms-in-october-shareholder-meeting-11628888340?mod=newsviewer_click\">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":{"TSLA":"特斯拉"},"source_url":"https://www.marketwatch.com/story/tesla-seeks-to-reduce-board-terms-in-october-shareholder-meeting-11628888340?mod=newsviewer_click","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2159321505","content_text":"Board members would serve for two years rather than three\nTesla CEO Elon Musk in Germany last year. MAJA HITIJ/GETTY IMAGES\nTesla Inc. set its shareholder meeting for Oct. 7 at the Fremont, Calif., factory, with a call for reducing its directors’ terms among the proposals the electric-car maker will bring to the table, the company said in filing late Friday.\nOne of the proposals calls for each director’s term to be reduced from three years to two years. Tesla’s board currently has nine members who are divided into three classes in staggered three-year terms.\nIf the proposal is approved, however, the board will be divided into two classes with staggered two-year terms, with directors distributed as equally between the classes as possible, Tesla said in the filing.\nThe board would be reduced to eight members, since Antonio Gracias, a venture capitalist who has served on the Tesla board since 2007, said in 2019 he’d not be seeking reelection when his term ends this year.\nTesla’s board nominated current board members James Murdoch, the youngest son of News Corp founder Rupert Murdoch, and Kimbal Musk, Chief Executive Elon Musk’s brother, for re-election as class II directors, with terms expiring in 2024. If the term reduction is approved, then their terms would end in 2023, the company said.\nTesla’s curtailing board member terms was a response to a shareholder proposal calling to elect each board member for one year.\nThe two-year term, however, “strikes a suitable balance to the long-term interests of and nearer-term accountability to our stockholders at this time,” Tesla said.\nTesla shares were flat in after-hours trading after ending the regular trading day down 0.7%. The stock has gained 1.6% this year, compared with gains of around 19% for the S&P 500 index.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":552,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":894598119,"gmtCreate":1628835994631,"gmtModify":1633689092783,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"Buy!&nbsp;","listText":"Buy!&nbsp;","text":"Buy!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/894598119","repostId":"1101202302","repostType":4,"isVote":1,"tweetType":1,"viewCount":760,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":896507691,"gmtCreate":1628590334113,"gmtModify":1633745925749,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"Buy the dip!&nbsp;","listText":"Buy the dip!&nbsp;","text":"Buy the dip!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/896507691","repostId":"1172629758","repostType":4,"isVote":1,"tweetType":1,"viewCount":703,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":800042198,"gmtCreate":1627268170714,"gmtModify":1633766680959,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"Good!!!","listText":"Good!!!","text":"Good!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/800042198","repostId":"1100772026","repostType":4,"isVote":1,"tweetType":1,"viewCount":775,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":102345733,"gmtCreate":1620180078822,"gmtModify":1634207180888,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"Up up up","listText":"Up up up","text":"Up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/102345733","repostId":"2133495045","repostType":4,"isVote":1,"tweetType":1,"viewCount":346,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":379712431,"gmtCreate":1618794873123,"gmtModify":1634290896057,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"Buy !!","listText":"Buy !!","text":"Buy !!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/379712431","repostId":"1188941541","repostType":4,"isVote":1,"tweetType":1,"viewCount":651,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175921920,"gmtCreate":1627003328860,"gmtModify":1633768892352,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"Buy!&nbsp;","listText":"Buy!&nbsp;","text":"Buy!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/175921920","repostId":"1164478982","repostType":4,"isVote":1,"tweetType":1,"viewCount":409,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":124964016,"gmtCreate":1624720729135,"gmtModify":1633949302800,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"Buy now while at discount&nbsp;","listText":"Buy now while at discount&nbsp;","text":"Buy now while at discount","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/124964016","repostId":"1164137597","repostType":4,"isVote":1,"tweetType":1,"viewCount":553,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354852657,"gmtCreate":1617160920279,"gmtModify":1634522332502,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"Wow! This is great!!!!","listText":"Wow! This is great!!!!","text":"Wow! This is great!!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/354852657","repostId":"1154884109","repostType":4,"isVote":1,"tweetType":1,"viewCount":392,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":896507691,"gmtCreate":1628590334113,"gmtModify":1633745925749,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"Buy the dip!&nbsp;","listText":"Buy the dip!&nbsp;","text":"Buy the dip!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/896507691","repostId":"1172629758","repostType":4,"isVote":1,"tweetType":1,"viewCount":703,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164162489,"gmtCreate":1624182165741,"gmtModify":1634009715938,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"Buy!","listText":"Buy!","text":"Buy!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/164162489","repostId":"1199331995","repostType":4,"isVote":1,"tweetType":1,"viewCount":363,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":352112635,"gmtCreate":1616906008027,"gmtModify":1634523577902,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/352112635","repostId":"1141686975","repostType":4,"repost":{"id":"1141686975","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":1616780260,"share":"https://www.laohu8.com/m/news/1141686975?lang=zh_CN&edition=full","pubTime":"2021-03-27 01:37","market":"us","language":"en","title":"Zhihu Technology fall on its first day of trading<blockquote>知乎科技上市首日下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1141686975","media":"Tiger Newspress","summary":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO pri","content":"<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><blockquote>知乎科技股价周五开盘价为每股8.02美元，比该公司9.5美元的IPO价格低约15.6%。知乎IPO价格处于区间低端，公司估值约为53亿美元。</blockquote></p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p><blockquote>知乎公司周五宣布其首次公开募股定价为每股美国存托股9.50美元，处于预期区间的低端。这家总部位于中国的在线内容公司在IPO中发行了5500万份ADS，筹集了5.225亿美元，而该公司的定价约为53.1亿美元。</blockquote></p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><blockquote>知乎的商业模式与Quora相似，数百万人提问并交流他们的观点和经验。知乎已经成为国内最大的在线问答社区。</blockquote></p><p><b>Sales Breakdown</b></p><p><blockquote><b>销售明细</b></blockquote></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p><blockquote>广告和付费会员占公司收入的最大部分。2019年和2020年，广告分别占总收入的86.1%和62.4%。我们预计广告占收入的百分比将在未来五年内逐渐下降，因为它被更快增长的付费会员和内容商务解决方案所抵消。我们预计广告占销售额的百分比将在2021年下降至34.1%，在2025年下降至22.3%。</blockquote></p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p><blockquote>付费会员占2019年总收入的13.1%，2020年增至总收入的23.7%。我们假设付费会员收入占总收入的百分比将在2021年和2025年分别增至31.5%和37.8%。</blockquote></p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><blockquote>2020年，内容商务解决方案和其他销售额也大幅增长。内容商务解决方案收入从2019年的60万元跃升至2020年的1.358亿元。2020年初，该公司推出了内容商务解决方案，为商家和品牌提供一站式服务，满足其所有销售和营销需求，包括营销计划。我们假设内容商务解决方案占总收入的百分比将从2020年的10%跃升至2021年的17.8%和2025年的32.3%。</blockquote></p><p><b>Gross Margins</b></p><p><blockquote><b>毛利率</b></blockquote></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><blockquote>在业务可扩展性整体提升的推动下，公司毛利率从2019年的46.6%提升至2020年的56.0%。我们假设毛利率在2021年和2025年进一步提高至57.4%和62.3%。</blockquote></p><p><b>Total Operating Expenses and Operating Margins</b></p><p><blockquote><b>总营业费用和营业利润率</b></blockquote></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><blockquote>总运营费用占收入的百分比由2019年的204.4%大幅下降至2020年的100.6%。我们预计这一比例将在2021年进一步提高至79%，2022年为69.2%，2025年为57.2%。运营费用的改善大部分来自未来五年SG&amp;A和R&amp;D费用占收入百分比的降低。</blockquote></p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Company Background</b></p><p><blockquote><b>公司背景</b></blockquote></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p><blockquote>2020年底，知乎累计有超过4310万内容创作者，贡献了3.15亿个问答。2020年第四季度，该公司平均月活跃用户为7570万，同比增长33%。该公司的关键优势之一是，它被公认为最值得信赖的在线内容社区之一，并被视为提供中国最优质的内容之一。知乎试图利用其庞大的用户群提供众多多媒体功能，包括直播、电子商务、在线教育和其他视频内容。</blockquote></p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p><blockquote>2019年8月，知乎获得了包括百度和快手科技在内的领先投资者4.34亿美元的融资，公司估值为35亿美元。鉴于该公司2019年的销售额为9700万美元，这意味着市盈率估值倍数为36倍。如果我们将相同的市盈率倍数应用于该公司2020年2.07亿美元的销售额，这将表明隐含估值为75亿美元。</blockquote></p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><blockquote>知乎最初是在2010年作为一个问答在线社区开发的。截至2020年底，共有3.15亿次问答，跨越1000多个垂直领域和57.1万个主题。按2020年平均移动月活跃用户数及收入计，知乎是中国五大综合在线内容社区之一。该公司使用人工智能、云和大数据算法来提高其内容和服务的优化。</blockquote></p><p><b>Major Shareholders of Zhihu</b></p><p><blockquote><b>知乎主要股东</b></blockquote></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><blockquote>创始人兼首席执行官周元拥有该公司8.2%的股份（但拥有46.6%的投票权）。创新工场拥有知乎13.1%的股份，腾讯控股控股有限公司拥有知乎12.3%的股份。</blockquote></p><p><b>Key Demographics</b></p><p><blockquote><b>关键人口统计</b></blockquote></p><p></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><blockquote>下图提供了知乎用户群的一些关键人口统计数据。男性用户占总用户的56.9%。30岁以下人群占其总用户群的78.7%。一线及新一线城市佔总用户群的52.6%。知乎的很多用户都是学生和白领专业人士。</blockquote></p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Revenue Breakdown</b></p><p><blockquote><b>收入明细</b></blockquote></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p><blockquote>广告和付费会员占公司收入的最大部分。2019年和2020年，广告分别占总收入的86.1%和62.4%。该公司的广告收入主要由其月活跃用户数和每个月活跃用户数的广告收入推动。2020年，公司月活跃用户数同比增长42.7%至6850万。该公司于2016年开始在线广告业务，并于2018年引入付费内容。</blockquote></p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p><blockquote>付费会员占2019年总收入的13.1%，2020年增至总收入的23.7%。2020年，月均会员同比增长311.5%至236万，这证明越来越多的客户重视知乎上的优质内容。</blockquote></p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p><blockquote>2019年3月，公司推出Yan Selection会员计划，使其成为第一个基于付费的问答社区。它为会员提供了对约340万个付费内容的无限制访问，包括在线讲座、专栏、有声读物和电子期刊。这是该公司最大的优势之一，因为它显示了高质量的数据和内容如何能够产生大量收入，并且还提供了更稳定的每月收入流入。</blockquote></p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p><blockquote>2020年，内容商务解决方案和其他销售额也大幅增长。内容商务解决方案收入从2019年的60万元跃升至2020年的1.358亿元。2020年初，该公司推出了内容商务解决方案，为商家和品牌提供一站式服务，满足其所有销售和营销需求，包括营销计划、为感兴趣的用户分配最相关的内容创作者以及促进内容创作。</blockquote></p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><blockquote>中国的内容商务解决方案市场预计将成为未来几年增长最快的行业之一。根据灼识谘询的资料，中国内容商务解决方案市场预期于2019年至2025年将享有46.4%的强劲复合年增长率（1,123亿元人民币）。</blockquote></p><p><b>Market Opportunities</b></p><p><blockquote><b>市场机会</b></blockquote></p><p><b>China’s Online Content Communities Market Size</b></p><p><blockquote><b>中国在线内容社区市场规模</b></blockquote></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p><blockquote>在线内容社区是指专注于UGC（用户生成内容）（包括PUGC（专业用户生成内容））的在线内容市场参与者，其中内容创作者也是用户，他们积极参与社区。与PGC（专业生成内容）玩家相比，内容社区通常可以激发更高水平的用户参与度、更具互动性的用户体验，并享受更低的内容成本。PGC是由品牌公司或组织创建的内容。</blockquote></p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p><blockquote>中国在线内容社区市场规模由2015年的386亿元人民币增至2019年的2758亿元人民币，预计将进一步增至2025年的1.3万亿元人民币，2019年至2025年的复合年增长率为30.3%，高于整体在线内容市场增长。</blockquote></p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p><blockquote>中国在线内容社区市场拥有更多元化的变现渠道，包括在线广告、付费会员、内容电商、内容电商解决方案、直播虚拟礼品、在线游戏及在线教育服务。相比之下，美国在线内容社区的变现主要是通过广告。</blockquote></p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><blockquote>该公司的一个主要积极因素是，越来越多的中国消费者愿意为更高质量的内容付费。预计2019年至2025年期间，中国在线内容社区的付费用户数量将以17.1%的复合年增长率增长，这意味着在线内容社区的额外付费用户将增加3.604亿至2025年的5.882亿。</blockquote></p><p><b>China's Online Content Market</b></p><p><blockquote><b>中国在线内容市场</b></blockquote></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><blockquote>中国在线内容市场较2015年增长两倍，2019年达到1.2万亿人民币。预计该市场将于2025年增至3.7万亿元人民币，2019年至2025年的复合年增长率为21.4%。</blockquote></p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>2015年至2025年（估计）中国在线内容市场规模（按收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><blockquote><b>二零一五年至二零二五年（估计）中国在线内容社区的市场规模（以收益计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>中国付费会员市场规模（以收入计），2015年至2025年（估计）</b></blockquote></p><p></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Content-commerce solutions</b></p><p><blockquote><b>内容商务解决方案</b></blockquote></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><blockquote>为了提供整合营销服务，在线内容社区为内容创建、内容分发和内容转换提供内容商务解决方案。该公司提供综合内容商务解决方案，为商家和品牌的所有销售和营销需求提供一站式服务，从制定营销计划、促进内容创作、分配最相关的内容创作者，到向感兴趣的用户分发。中国内容商务解决方案市场预期将由2019年的人民币114亿元增长至2025年的人民币1123亿元，复合年增长率为46.4%。</blockquote></p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>二零一五年至二零二五年（估计）中国内容商务解决方案市场规模（以收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" 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>Zhihu Technology fall on its first day of trading<blockquote>知乎科技上市首日下跌</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\">\nZhihu Technology fall on its first day of trading<blockquote>知乎科技上市首日下跌</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\">2021-03-27 01:37</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><blockquote>知乎科技股价周五开盘价为每股8.02美元，比该公司9.5美元的IPO价格低约15.6%。知乎IPO价格处于区间低端，公司估值约为53亿美元。</blockquote></p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p><blockquote>知乎公司周五宣布其首次公开募股定价为每股美国存托股9.50美元，处于预期区间的低端。这家总部位于中国的在线内容公司在IPO中发行了5500万份ADS，筹集了5.225亿美元，而该公司的定价约为53.1亿美元。</blockquote></p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><blockquote>知乎的商业模式与Quora相似，数百万人提问并交流他们的观点和经验。知乎已经成为国内最大的在线问答社区。</blockquote></p><p><b>Sales Breakdown</b></p><p><blockquote><b>销售明细</b></blockquote></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p><blockquote>广告和付费会员占公司收入的最大部分。2019年和2020年，广告分别占总收入的86.1%和62.4%。我们预计广告占收入的百分比将在未来五年内逐渐下降，因为它被更快增长的付费会员和内容商务解决方案所抵消。我们预计广告占销售额的百分比将在2021年下降至34.1%，在2025年下降至22.3%。</blockquote></p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p><blockquote>付费会员占2019年总收入的13.1%，2020年增至总收入的23.7%。我们假设付费会员收入占总收入的百分比将在2021年和2025年分别增至31.5%和37.8%。</blockquote></p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><blockquote>2020年，内容商务解决方案和其他销售额也大幅增长。内容商务解决方案收入从2019年的60万元跃升至2020年的1.358亿元。2020年初，该公司推出了内容商务解决方案，为商家和品牌提供一站式服务，满足其所有销售和营销需求，包括营销计划。我们假设内容商务解决方案占总收入的百分比将从2020年的10%跃升至2021年的17.8%和2025年的32.3%。</blockquote></p><p><b>Gross Margins</b></p><p><blockquote><b>毛利率</b></blockquote></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><blockquote>在业务可扩展性整体提升的推动下，公司毛利率从2019年的46.6%提升至2020年的56.0%。我们假设毛利率在2021年和2025年进一步提高至57.4%和62.3%。</blockquote></p><p><b>Total Operating Expenses and Operating Margins</b></p><p><blockquote><b>总营业费用和营业利润率</b></blockquote></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><blockquote>总运营费用占收入的百分比由2019年的204.4%大幅下降至2020年的100.6%。我们预计这一比例将在2021年进一步提高至79%，2022年为69.2%，2025年为57.2%。运营费用的改善大部分来自未来五年SG&amp;A和R&amp;D费用占收入百分比的降低。</blockquote></p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Company Background</b></p><p><blockquote><b>公司背景</b></blockquote></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p><blockquote>2020年底，知乎累计有超过4310万内容创作者，贡献了3.15亿个问答。2020年第四季度，该公司平均月活跃用户为7570万，同比增长33%。该公司的关键优势之一是，它被公认为最值得信赖的在线内容社区之一，并被视为提供中国最优质的内容之一。知乎试图利用其庞大的用户群提供众多多媒体功能，包括直播、电子商务、在线教育和其他视频内容。</blockquote></p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p><blockquote>2019年8月，知乎获得了包括百度和快手科技在内的领先投资者4.34亿美元的融资，公司估值为35亿美元。鉴于该公司2019年的销售额为9700万美元，这意味着市盈率估值倍数为36倍。如果我们将相同的市盈率倍数应用于该公司2020年2.07亿美元的销售额，这将表明隐含估值为75亿美元。</blockquote></p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><blockquote>知乎最初是在2010年作为一个问答在线社区开发的。截至2020年底，共有3.15亿次问答，跨越1000多个垂直领域和57.1万个主题。按2020年平均移动月活跃用户数及收入计，知乎是中国五大综合在线内容社区之一。该公司使用人工智能、云和大数据算法来提高其内容和服务的优化。</blockquote></p><p><b>Major Shareholders of Zhihu</b></p><p><blockquote><b>知乎主要股东</b></blockquote></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><blockquote>创始人兼首席执行官周元拥有该公司8.2%的股份（但拥有46.6%的投票权）。创新工场拥有知乎13.1%的股份，腾讯控股控股有限公司拥有知乎12.3%的股份。</blockquote></p><p><b>Key Demographics</b></p><p><blockquote><b>关键人口统计</b></blockquote></p><p></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><blockquote>下图提供了知乎用户群的一些关键人口统计数据。男性用户占总用户的56.9%。30岁以下人群占其总用户群的78.7%。一线及新一线城市佔总用户群的52.6%。知乎的很多用户都是学生和白领专业人士。</blockquote></p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Revenue Breakdown</b></p><p><blockquote><b>收入明细</b></blockquote></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p><blockquote>广告和付费会员占公司收入的最大部分。2019年和2020年，广告分别占总收入的86.1%和62.4%。该公司的广告收入主要由其月活跃用户数和每个月活跃用户数的广告收入推动。2020年，公司月活跃用户数同比增长42.7%至6850万。该公司于2016年开始在线广告业务，并于2018年引入付费内容。</blockquote></p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p><blockquote>付费会员占2019年总收入的13.1%，2020年增至总收入的23.7%。2020年，月均会员同比增长311.5%至236万，这证明越来越多的客户重视知乎上的优质内容。</blockquote></p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p><blockquote>2019年3月，公司推出Yan Selection会员计划，使其成为第一个基于付费的问答社区。它为会员提供了对约340万个付费内容的无限制访问，包括在线讲座、专栏、有声读物和电子期刊。这是该公司最大的优势之一，因为它显示了高质量的数据和内容如何能够产生大量收入，并且还提供了更稳定的每月收入流入。</blockquote></p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p><blockquote>2020年，内容商务解决方案和其他销售额也大幅增长。内容商务解决方案收入从2019年的60万元跃升至2020年的1.358亿元。2020年初，该公司推出了内容商务解决方案，为商家和品牌提供一站式服务，满足其所有销售和营销需求，包括营销计划、为感兴趣的用户分配最相关的内容创作者以及促进内容创作。</blockquote></p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><blockquote>中国的内容商务解决方案市场预计将成为未来几年增长最快的行业之一。根据灼识谘询的资料，中国内容商务解决方案市场预期于2019年至2025年将享有46.4%的强劲复合年增长率（1,123亿元人民币）。</blockquote></p><p><b>Market Opportunities</b></p><p><blockquote><b>市场机会</b></blockquote></p><p><b>China’s Online Content Communities Market Size</b></p><p><blockquote><b>中国在线内容社区市场规模</b></blockquote></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p><blockquote>在线内容社区是指专注于UGC（用户生成内容）（包括PUGC（专业用户生成内容））的在线内容市场参与者，其中内容创作者也是用户，他们积极参与社区。与PGC（专业生成内容）玩家相比，内容社区通常可以激发更高水平的用户参与度、更具互动性的用户体验，并享受更低的内容成本。PGC是由品牌公司或组织创建的内容。</blockquote></p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p><blockquote>中国在线内容社区市场规模由2015年的386亿元人民币增至2019年的2758亿元人民币，预计将进一步增至2025年的1.3万亿元人民币，2019年至2025年的复合年增长率为30.3%，高于整体在线内容市场增长。</blockquote></p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p><blockquote>中国在线内容社区市场拥有更多元化的变现渠道，包括在线广告、付费会员、内容电商、内容电商解决方案、直播虚拟礼品、在线游戏及在线教育服务。相比之下，美国在线内容社区的变现主要是通过广告。</blockquote></p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><blockquote>该公司的一个主要积极因素是，越来越多的中国消费者愿意为更高质量的内容付费。预计2019年至2025年期间，中国在线内容社区的付费用户数量将以17.1%的复合年增长率增长，这意味着在线内容社区的额外付费用户将增加3.604亿至2025年的5.882亿。</blockquote></p><p><b>China's Online Content Market</b></p><p><blockquote><b>中国在线内容市场</b></blockquote></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><blockquote>中国在线内容市场较2015年增长两倍，2019年达到1.2万亿人民币。预计该市场将于2025年增至3.7万亿元人民币，2019年至2025年的复合年增长率为21.4%。</blockquote></p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>2015年至2025年（估计）中国在线内容市场规模（按收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><blockquote><b>二零一五年至二零二五年（估计）中国在线内容社区的市场规模（以收益计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>中国付费会员市场规模（以收入计），2015年至2025年（估计）</b></blockquote></p><p></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Content-commerce solutions</b></p><p><blockquote><b>内容商务解决方案</b></blockquote></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><blockquote>为了提供整合营销服务，在线内容社区为内容创建、内容分发和内容转换提供内容商务解决方案。该公司提供综合内容商务解决方案，为商家和品牌的所有销售和营销需求提供一站式服务，从制定营销计划、促进内容创作、分配最相关的内容创作者，到向感兴趣的用户分发。中国内容商务解决方案市场预期将由2019年的人民币114亿元增长至2025年的人民币1123亿元，复合年增长率为46.4%。</blockquote></p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>二零一五年至二零二五年（估计）中国内容商务解决方案市场规模（以收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZH":"知乎"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141686975","content_text":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO price $9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.Zhihu Inc. announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.Sales BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.Gross MarginsThe company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.Total Operating Expenses and Operating MarginsTotal operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&A and R&D expenses as a percentage of revenues in the next five years.Company BackgroundAt the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.Major Shareholders of ZhihuThe founder & CEO Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.Key DemographicsThe diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.Revenue BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions & answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).Market OpportunitiesChina’s Online Content Communities Market SizeOnline content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.China's Online Content MarketChina's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.China’s Online Content Market Size (in terms of revenue), 2015-2025EMarket Size of China’s Online Content Communities (in terms of revenue),2015-2025EChina’s Paid Membership Market Size (in terms of revenue), 2015-2025EContent-commerce solutionsTo provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E","news_type":1,"symbols_score_info":{"ZH":0.9}},"isVote":1,"tweetType":1,"viewCount":553,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":893595405,"gmtCreate":1628278307307,"gmtModify":1633752056588,"author":{"id":"3570343633899015","authorId":"3570343633899015","name":"xiaochan","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570343633899015","authorIdStr":"3570343633899015"},"themes":[],"htmlText":"Like&nbsp;","listText":"Like&nbsp;","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/893595405","repostId":"1155656235","repostType":4,"repost":{"id":"1155656235","kind":"news","pubTimestamp":1628227304,"share":"https://www.laohu8.com/m/news/1155656235?lang=zh_CN&edition=full","pubTime":"2021-08-06 13:21","market":"us","language":"en","title":"20 cloud stocks expected to increase sales the most over the next two years<blockquote>预计未来两年销售额增幅最大的20只云股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1155656235","media":"MarketWatch","summary":"Cloud ETFs are close to record highs, propelled by a rally in the sector\nAnalysts see stellar sales ","content":"<p>Cloud ETFs are close to record highs, propelled by a rally in the sector</p><p><blockquote>在该行业反弹的推动下，云ETF接近历史新高</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/78101d8010e186fe4df59b2ef82b5de6\" tg-width=\"700\" tg-height=\"394\" width=\"100%\" height=\"auto\"><span>Analysts see stellar sales growth ahead for companies that provide cloud services. (Getty Images/iStockphoto)</span></p><p><blockquote><p class=\"t-img-caption\"><span>分析师预计，提供云服务的公司未来将实现强劲的销售增长。（盖蒂图片社/iStockphoto）</span></p></blockquote></p><p> U.S. investors remain bullish, despite rumblings out of China and the spike in delta variant infections.</p><p><blockquote>尽管来自中国的传言和德尔塔变异毒株感染人数激增，但美国投资者仍然看涨。</blockquote></p><p> Cloud companies — those at the forefront of the shift in computing power to distributed models over the internet — are expected to grow at a rapid clip over the next several years, and four of the five largest exchange traded funds covering the space are close to hitting record highs.</p><p><blockquote>云公司——那些处于计算能力向互联网分布式模式转变前沿的公司——预计将在未来几年快速增长，覆盖该领域的五家最大交易所交易基金中有四家即将创下历史新高。</blockquote></p><p> Below is a screen of stocks held by those ETFs, showing which are expected to increase their sales the most through 2023. In an industry with many players at relatively early stages, increases in sales, rather than in earnings, might be the best driver of stock prices.</p><p><blockquote>下面是这些ETF持有的股票屏幕，显示了预计到2023年销售额增幅最大的股票。在一个许多参与者处于相对早期阶段的行业中，销售额的增长而不是盈利的增长可能是股价的最佳驱动力。</blockquote></p><p> To begin the screen, we looked at the five largest cloud ETFs:</p><p><blockquote>首先，我们查看了五只最大的云ETF：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/36209ce827d95e822cad5128be8b146a\" tg-width=\"933\" tg-height=\"664\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> ETFs might be your best way to take a broad approach for a long-term play on the cloud revolution. If you are interested in any ETF, you should review the fund manager’s website.</p><p><blockquote>ETF可能是您采取广泛方法长期参与云革命的最佳方式。如果您对任何ETF感兴趣，您应该查看基金经理的网站。</blockquote></p><p> Here’s a comparison of total returns through Aug. 4, along with those for the SPDR S&amp;P 500 ETF&nbsp;and the Invesco QQQ Trust&nbsp;(which tracks the Nasdaq-100 Index) for comparison:</p><p><blockquote>以下是截至8月4日的总回报比较，以及SPDR标普500 ETF和Invesco QQQ Trust（跟踪纳斯达克100指数）的总回报比较：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/242f135b3c7cca3cbaae3ee574023c1f\" tg-width=\"942\" tg-height=\"577\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> The ETFs’ approaches differ. For example, the ARK Next Generation Internet ETF&nbsp;is the only one that is actively managed. The others track an index. It is also the only one that holds shares of Tesla Inc.,which makes up 10.65% of the portfolio, according to information posted by ARK Invest on Aug. 5. Tesla is an electric-vehicle manufacturer, but it can also be considered a cloud company because it distributes software updates over the internet continually, and offers other cloud-based services.</p><p><blockquote>ETF的方法不同。例如，方舟下一代互联网ETF是唯一一只主动管理的。其他人跟踪一个指数。根据Ark Invest 8月5日发布的信息，它也是唯一一家持有特斯拉公司股票的公司，占投资组合的10.65%。特斯拉是一家电动汽车制造商，但它也可以被视为一家云公司，因为它不断通过互联网分发软件更新，并提供其他基于云的服务。</blockquote></p><p> Another holding unique to ARKW among the five cloud ETFs is Walt Disney Co.,which is certainly an important cloud player through its Disney+ streaming service, even if the company doesn’t say directly how much of its sales are derived from that rapidly growing segment.</p><p><blockquote>在五只云ETF中，ARKW独有的另一个持股是华特迪士尼公司，该公司通过其Disney+流媒体服务无疑是一个重要的云参与者，即使该公司没有直接说明其销售额有多少来自该快速增长的部分。</blockquote></p><p> As part of its description of ARKW, FactSet says the following:</p><p><blockquote>作为对ARKW描述的一部分，FactSet表示如下：</blockquote></p><p> <i>“Broadly speaking, the ARKW’s managers appear focused on big buzzwords such as Internet of Things, cloud computing, digital currencies and wearable technology. While the fund’s focus may be appealing for investors with conviction in these new technologies, portfolio implementation is a more difficult task: Most of the companies developing these advancements are huge corporations for which nascent technologies are only a small fraction of total revenues. As such, it’s very difficult to get pure-play access to ARKW’s targeted technologies — so be sure to confirm that the fund’s holdings — not just its thesis — align with your view of the space.”</i></p><p><blockquote><i>“从广义上讲，ARKW的管理者似乎专注于物联网、云计算、数字货币和可穿戴技术等热门词汇。虽然该基金的重点可能是吸引对这些新技术有信心的投资者，但投资组合的实施是一项更加困难的任务：大多数开发这些进步的公司都是大公司，新兴技术仅占总收入的一小部分。因此，很难纯粹接触ARKW的目标技术，因此请务必确认该基金的持股（而不仅仅是其论点）与您对该领域的看法一致。”</i></blockquote></p><p> <b>Cloud-stock screen</b></p><p><blockquote><b>云库存屏幕</b></blockquote></p><p> Together, the five cloud ETFs listed above hold 147 stocks. To project sales growth through 2023, we used calendar 2020 sales estimates as a baseline and then looked at consensus estimates among analysts polled by FactSet for the subsequent three years, if available. (The 2020 numbers are estimates, because many companies’ fiscal years don’t match the calendar.)</p><p><blockquote>上面列出的五只云ETF总共持有147只股票。为了预测2023年的销售增长，我们使用2020年日历的销售预测作为基线，然后查看FactSet调查的分析师对随后三年的一致预测（如果有）。（2020年的数字是估计值，因为许多公司的财年与日历不符。）</blockquote></p><p> To make sure we had a solid set of estimates, we confined the group to the 126 companies covered by at least five analysts polled by FactSet, for which consensus sales estimates for calendar 2020 through calendar 2023 are available.</p><p><blockquote>为了确保我们有一套可靠的估计，我们将该小组限制在FactSet调查的至少5名分析师覆盖的126家公司，这些公司可以获得2020年至2023年的一致销售估计。</blockquote></p><p> Here are the 20 companies projected to have the highest compound annual growth rates (CAGR) for sales through calendar 2023:</p><p><blockquote>以下是预计到2023年销售额复合年增长率(CAGR)最高的20家公司：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/517a23591cde159fb889ab80abc4bcc6\" tg-width=\"934\" tg-height=\"765\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/6af2cf5b5f9f0ce50f8f023ac7babc7f\" tg-width=\"935\" tg-height=\"717\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b88ebe72e09cb9ce3294269f0a4ae431\" tg-width=\"935\" tg-height=\"403\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> There are actually 21 stocks listed, including Zillow Group Inc.’s Class A&nbsp;and Class C&nbsp;shares.</p><p><blockquote>实际上有21只股票上市，包括Zillow Group Inc.的A类和C类股票。</blockquote></p><p> It is interesting to see that the list is dominated by stocks held by ARKW. The fund has a broad definition of cloud companies and is focused also on sales growth.</p><p><blockquote>有趣的是，该榜单以ARKW持有的股票为主。该基金对云公司有广泛的定义，也关注销售增长。</blockquote></p><p></p><p> Here are current forward price-to-sales ratios based on consensus estimates for the next 12 months, as well as ratios of current market cap to projected 2023 sales and summaries of analysts’ opinions about the stocks.</p><p><blockquote>以下是基于未来12个月共识预测的当前远期市销率、当前市值与2023年预计销售额的比率以及分析师对这些股票的意见摘要。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/19b9c4bf1d8b1abcfa76b7d008a47ad7\" tg-width=\"938\" tg-height=\"805\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/2ff191189c5d7d2f31698843734ca3cc\" tg-width=\"933\" tg-height=\"773\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e9543489c4d52d3f1a69dfdcf170115\" tg-width=\"930\" tg-height=\"242\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> In comparison, the forward price-to-sales ratio for SPY is 2.8, with a price/2023 estimated sales ratio of 2.6. For QQQ, the current P/S is 4.7, declining to 4.3 for 2023.</p><p><blockquote>相比之下，SPDR标普500指数ETF的远期市销率为2.8，2023年预计市销率为2.6。对于QQQ，目前的市盈率为4.7，2023年将降至4.3。</blockquote></p><p></p>","source":"lsy1603348471595","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>20 cloud stocks expected to increase sales the most over the next two years<blockquote>预计未来两年销售额增幅最大的20只云股票</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\">\n20 cloud stocks expected to increase sales the most over the next two years<blockquote>预计未来两年销售额增幅最大的20只云股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-06 13:21</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Cloud ETFs are close to record highs, propelled by a rally in the sector</p><p><blockquote>在该行业反弹的推动下，云ETF接近历史新高</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/78101d8010e186fe4df59b2ef82b5de6\" tg-width=\"700\" tg-height=\"394\" width=\"100%\" height=\"auto\"><span>Analysts see stellar sales growth ahead for companies that provide cloud services. (Getty Images/iStockphoto)</span></p><p><blockquote><p class=\"t-img-caption\"><span>分析师预计，提供云服务的公司未来将实现强劲的销售增长。（盖蒂图片社/iStockphoto）</span></p></blockquote></p><p> U.S. investors remain bullish, despite rumblings out of China and the spike in delta variant infections.</p><p><blockquote>尽管来自中国的传言和德尔塔变异毒株感染人数激增，但美国投资者仍然看涨。</blockquote></p><p> Cloud companies — those at the forefront of the shift in computing power to distributed models over the internet — are expected to grow at a rapid clip over the next several years, and four of the five largest exchange traded funds covering the space are close to hitting record highs.</p><p><blockquote>云公司——那些处于计算能力向互联网分布式模式转变前沿的公司——预计将在未来几年快速增长，覆盖该领域的五家最大交易所交易基金中有四家即将创下历史新高。</blockquote></p><p> Below is a screen of stocks held by those ETFs, showing which are expected to increase their sales the most through 2023. In an industry with many players at relatively early stages, increases in sales, rather than in earnings, might be the best driver of stock prices.</p><p><blockquote>下面是这些ETF持有的股票屏幕，显示了预计到2023年销售额增幅最大的股票。在一个许多参与者处于相对早期阶段的行业中，销售额的增长而不是盈利的增长可能是股价的最佳驱动力。</blockquote></p><p> To begin the screen, we looked at the five largest cloud ETFs:</p><p><blockquote>首先，我们查看了五只最大的云ETF：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/36209ce827d95e822cad5128be8b146a\" tg-width=\"933\" tg-height=\"664\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> ETFs might be your best way to take a broad approach for a long-term play on the cloud revolution. If you are interested in any ETF, you should review the fund manager’s website.</p><p><blockquote>ETF可能是您采取广泛方法长期参与云革命的最佳方式。如果您对任何ETF感兴趣，您应该查看基金经理的网站。</blockquote></p><p> Here’s a comparison of total returns through Aug. 4, along with those for the SPDR S&amp;P 500 ETF&nbsp;and the Invesco QQQ Trust&nbsp;(which tracks the Nasdaq-100 Index) for comparison:</p><p><blockquote>以下是截至8月4日的总回报比较，以及SPDR标普500 ETF和Invesco QQQ Trust（跟踪纳斯达克100指数）的总回报比较：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/242f135b3c7cca3cbaae3ee574023c1f\" tg-width=\"942\" tg-height=\"577\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> The ETFs’ approaches differ. For example, the ARK Next Generation Internet ETF&nbsp;is the only one that is actively managed. The others track an index. It is also the only one that holds shares of Tesla Inc.,which makes up 10.65% of the portfolio, according to information posted by ARK Invest on Aug. 5. Tesla is an electric-vehicle manufacturer, but it can also be considered a cloud company because it distributes software updates over the internet continually, and offers other cloud-based services.</p><p><blockquote>ETF的方法不同。例如，方舟下一代互联网ETF是唯一一只主动管理的。其他人跟踪一个指数。根据Ark Invest 8月5日发布的信息，它也是唯一一家持有特斯拉公司股票的公司，占投资组合的10.65%。特斯拉是一家电动汽车制造商，但它也可以被视为一家云公司，因为它不断通过互联网分发软件更新，并提供其他基于云的服务。</blockquote></p><p> Another holding unique to ARKW among the five cloud ETFs is Walt Disney Co.,which is certainly an important cloud player through its Disney+ streaming service, even if the company doesn’t say directly how much of its sales are derived from that rapidly growing segment.</p><p><blockquote>在五只云ETF中，ARKW独有的另一个持股是华特迪士尼公司，该公司通过其Disney+流媒体服务无疑是一个重要的云参与者，即使该公司没有直接说明其销售额有多少来自该快速增长的部分。</blockquote></p><p> As part of its description of ARKW, FactSet says the following:</p><p><blockquote>作为对ARKW描述的一部分，FactSet表示如下：</blockquote></p><p> <i>“Broadly speaking, the ARKW’s managers appear focused on big buzzwords such as Internet of Things, cloud computing, digital currencies and wearable technology. While the fund’s focus may be appealing for investors with conviction in these new technologies, portfolio implementation is a more difficult task: Most of the companies developing these advancements are huge corporations for which nascent technologies are only a small fraction of total revenues. As such, it’s very difficult to get pure-play access to ARKW’s targeted technologies — so be sure to confirm that the fund’s holdings — not just its thesis — align with your view of the space.”</i></p><p><blockquote><i>“从广义上讲，ARKW的管理者似乎专注于物联网、云计算、数字货币和可穿戴技术等热门词汇。虽然该基金的重点可能是吸引对这些新技术有信心的投资者，但投资组合的实施是一项更加困难的任务：大多数开发这些进步的公司都是大公司，新兴技术仅占总收入的一小部分。因此，很难纯粹接触ARKW的目标技术，因此请务必确认该基金的持股（而不仅仅是其论点）与您对该领域的看法一致。”</i></blockquote></p><p> <b>Cloud-stock screen</b></p><p><blockquote><b>云库存屏幕</b></blockquote></p><p> Together, the five cloud ETFs listed above hold 147 stocks. To project sales growth through 2023, we used calendar 2020 sales estimates as a baseline and then looked at consensus estimates among analysts polled by FactSet for the subsequent three years, if available. (The 2020 numbers are estimates, because many companies’ fiscal years don’t match the calendar.)</p><p><blockquote>上面列出的五只云ETF总共持有147只股票。为了预测2023年的销售增长，我们使用2020年日历的销售预测作为基线，然后查看FactSet调查的分析师对随后三年的一致预测（如果有）。（2020年的数字是估计值，因为许多公司的财年与日历不符。）</blockquote></p><p> To make sure we had a solid set of estimates, we confined the group to the 126 companies covered by at least five analysts polled by FactSet, for which consensus sales estimates for calendar 2020 through calendar 2023 are available.</p><p><blockquote>为了确保我们有一套可靠的估计，我们将该小组限制在FactSet调查的至少5名分析师覆盖的126家公司，这些公司可以获得2020年至2023年的一致销售估计。</blockquote></p><p> Here are the 20 companies projected to have the highest compound annual growth rates (CAGR) for sales through calendar 2023:</p><p><blockquote>以下是预计到2023年销售额复合年增长率(CAGR)最高的20家公司：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/517a23591cde159fb889ab80abc4bcc6\" tg-width=\"934\" tg-height=\"765\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/6af2cf5b5f9f0ce50f8f023ac7babc7f\" tg-width=\"935\" tg-height=\"717\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b88ebe72e09cb9ce3294269f0a4ae431\" tg-width=\"935\" tg-height=\"403\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> There are actually 21 stocks listed, including Zillow Group Inc.’s Class A&nbsp;and Class C&nbsp;shares.</p><p><blockquote>实际上有21只股票上市，包括Zillow Group Inc.的A类和C类股票。</blockquote></p><p> It is interesting to see that the list is dominated by stocks held by ARKW. The fund has a broad definition of cloud companies and is focused also on sales growth.</p><p><blockquote>有趣的是，该榜单以ARKW持有的股票为主。该基金对云公司有广泛的定义，也关注销售增长。</blockquote></p><p></p><p> Here are current forward price-to-sales ratios based on consensus estimates for the next 12 months, as well as ratios of current market cap to projected 2023 sales and summaries of analysts’ opinions about the stocks.</p><p><blockquote>以下是基于未来12个月共识预测的当前远期市销率、当前市值与2023年预计销售额的比率以及分析师对这些股票的意见摘要。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/19b9c4bf1d8b1abcfa76b7d008a47ad7\" tg-width=\"938\" tg-height=\"805\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/2ff191189c5d7d2f31698843734ca3cc\" tg-width=\"933\" tg-height=\"773\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e9543489c4d52d3f1a69dfdcf170115\" tg-width=\"930\" tg-height=\"242\" width=\"100%\" height=\"auto\"><span>Source: FactSet</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：FactSet</span></p></blockquote></p><p> In comparison, the forward price-to-sales ratio for SPY is 2.8, with a price/2023 estimated sales ratio of 2.6. For QQQ, the current P/S is 4.7, declining to 4.3 for 2023.</p><p><blockquote>相比之下，SPDR标普500指数ETF的远期市销率为2.8，2023年预计市销率为2.6。对于QQQ，目前的市盈率为4.7，2023年将降至4.3。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/20-cloud-stocks-expected-to-increase-sales-the-most-over-the-next-two-years-11628186683?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":{"DKNG":"DraftKings Inc.","TSLA":"特斯拉","TDOC":"Teladoc Health Inc.","ADYEY":"Adyen N.V.","Z":"Zillow","CRWD":"CrowdStrike Holdings, Inc.","ZG":"Zillow Class A","SKLZ":"Skillz Inc","SE":"Sea Ltd","SHOP":"Shopify Inc","ROKU":"Roku Inc","SNAP":"Snap Inc","VCYT":"Veracyte Inc","LC":"LendingClub","KC":"金山云","COIN":"Coinbase Global, Inc.","PDD":"拼多多","MELI":"MercadoLibre","PINS":"Pinterest, Inc.","OKTA":"Okta Inc."},"source_url":"https://www.marketwatch.com/story/20-cloud-stocks-expected-to-increase-sales-the-most-over-the-next-two-years-11628186683?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155656235","content_text":"Cloud ETFs are close to record highs, propelled by a rally in the sector\nAnalysts see stellar sales growth ahead for companies that provide cloud services. (Getty Images/iStockphoto)\nU.S. investors remain bullish, despite rumblings out of China and the spike in delta variant infections.\nCloud companies — those at the forefront of the shift in computing power to distributed models over the internet — are expected to grow at a rapid clip over the next several years, and four of the five largest exchange traded funds covering the space are close to hitting record highs.\nBelow is a screen of stocks held by those ETFs, showing which are expected to increase their sales the most through 2023. In an industry with many players at relatively early stages, increases in sales, rather than in earnings, might be the best driver of stock prices.\nTo begin the screen, we looked at the five largest cloud ETFs:\nSource: FactSet\nETFs might be your best way to take a broad approach for a long-term play on the cloud revolution. If you are interested in any ETF, you should review the fund manager’s website.\nHere’s a comparison of total returns through Aug. 4, along with those for the SPDR S&P 500 ETF and the Invesco QQQ Trust (which tracks the Nasdaq-100 Index) for comparison:\nSource: FactSet\nThe ETFs’ approaches differ. For example, the ARK Next Generation Internet ETF is the only one that is actively managed. The others track an index. It is also the only one that holds shares of Tesla Inc.,which makes up 10.65% of the portfolio, according to information posted by ARK Invest on Aug. 5. Tesla is an electric-vehicle manufacturer, but it can also be considered a cloud company because it distributes software updates over the internet continually, and offers other cloud-based services.\nAnother holding unique to ARKW among the five cloud ETFs is Walt Disney Co.,which is certainly an important cloud player through its Disney+ streaming service, even if the company doesn’t say directly how much of its sales are derived from that rapidly growing segment.\nAs part of its description of ARKW, FactSet says the following:\n“Broadly speaking, the ARKW’s managers appear focused on big buzzwords such as Internet of Things, cloud computing, digital currencies and wearable technology. While the fund’s focus may be appealing for investors with conviction in these new technologies, portfolio implementation is a more difficult task: Most of the companies developing these advancements are huge corporations for which nascent technologies are only a small fraction of total revenues. As such, it’s very difficult to get pure-play access to ARKW’s targeted technologies — so be sure to confirm that the fund’s holdings — not just its thesis — align with your view of the space.”\nCloud-stock screen\nTogether, the five cloud ETFs listed above hold 147 stocks. To project sales growth through 2023, we used calendar 2020 sales estimates as a baseline and then looked at consensus estimates among analysts polled by FactSet for the subsequent three years, if available. (The 2020 numbers are estimates, because many companies’ fiscal years don’t match the calendar.)\nTo make sure we had a solid set of estimates, we confined the group to the 126 companies covered by at least five analysts polled by FactSet, for which consensus sales estimates for calendar 2020 through calendar 2023 are available.\nHere are the 20 companies projected to have the highest compound annual growth rates (CAGR) for sales through calendar 2023:\n\nSource: FactSet\nThere are actually 21 stocks listed, including Zillow Group Inc.’s Class A and Class C shares.\nIt is interesting to see that the list is dominated by stocks held by ARKW. The fund has a broad definition of cloud companies and is focused also on sales growth.\nHere are current forward price-to-sales ratios based on consensus estimates for the next 12 months, as well as ratios of current market cap to projected 2023 sales and summaries of analysts’ opinions about the stocks.\n\nSource: FactSet\nIn comparison, the forward price-to-sales ratio for SPY is 2.8, with a price/2023 estimated sales ratio of 2.6. For QQQ, the current P/S is 4.7, declining to 4.3 for 2023.","news_type":1,"symbols_score_info":{"COIN":0.9,"ADYEY":0.9,"TDOC":0.9,"KC":0.9,"PDD":0.9,"LC":0.9,"ROKU":0.9,"SKLZ":0.9,"SNAP":0.9,"SHOP":0.9,"SE":0.9,"DKNG":0.9,"CRWD":0.9,"ZG":0.9,"TSLA":0.9,"MELI":0.9,"VCYT":0.9,"PINS":0.9,"Z":0.9,"OKTA":0.9,"SQ":0.9}},"isVote":1,"tweetType":1,"viewCount":277,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}