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2021-05-02

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2021-04-07

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2021-02-24

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2021-06-08

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2021-04-21

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2021-03-27

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

2021-03-16

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Americans ready to pour $40 billion into bitcoin and the stock market as stimulus checks arrive: survey<blockquote>随着刺激支票的到来，美国人准备向比特币和股市投入400亿美元：调查</blockquote>

2021-05-03

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2021-04-08

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2021-03-14

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Some “meme” stocks rose<blockquote>部分“模因”股票上涨</blockquote>

2021-03-11

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Roblox spikes 44% on its first day of trading<blockquote>Roblox首日交易飙升44%</blockquote>

2021-04-02

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2021-06-05

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Can NIO Stock Reach $100? We Think It's A Matter Of 'When' Not 'If'<blockquote>蔚来股价能达到100美元吗？我们认为这是“何时”的问题，而不是“如果”的问题</blockquote>

2021-05-10

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2021-05-03

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2021-05-01

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2021-04-27

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2021-03-04

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Wall Street drops as high-flying tech stocks retreat<blockquote>随着飙升的科技股回落，华尔街下跌</blockquote>

2021-02-20

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Goldman Sachs is joining the robo-investing party — should you?<blockquote>高盛正在加入机器人投资行列——你应该加入吗？</blockquote>

2021-02-17

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Citibank can't get back $500 million it wired by mistake, judge rules<blockquote>法官裁定花旗银行无法收回误汇的5亿美元</blockquote>

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and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/895843380","repostId":"1146833505","repostType":4,"isVote":1,"tweetType":1,"viewCount":2606,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":895857021,"gmtCreate":1628735125163,"gmtModify":1631890348080,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575346220147121","idStr":"3575346220147121"},"themes":[],"htmlText":"Comment and like pls&nbsp;","listText":"Comment and like pls&nbsp;","text":"Comment and like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/895857021","repostId":"1175374507","repostType":4,"isVote":1,"tweetType":1,"viewCount":3077,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143416340,"gmtCreate":1625808539980,"gmtModify":1631890348083,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575346220147121","idStr":"3575346220147121"},"themes":[],"htmlText":"Please like and comment","listText":"Please like and comment","text":"Please like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/143416340","repostId":"1119741032","repostType":4,"repost":{"id":"1119741032","kind":"news","pubTimestamp":1625803532,"share":"https://www.laohu8.com/m/news/1119741032?lang=zh_CN&edition=full","pubTime":"2021-07-09 12:05","market":"hk","language":"en","title":"5 Blue Chip Stocks to Buy With Huge Dividends as Interest Rates Plunge<blockquote>随着利率暴跌，值得买入并获得巨额股息的5只蓝筹股</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1119741032","media":"24/7 wall street","summary":"Just last month, we were being warned that interest rates were ready to move meaningfully higher as ","content":"<p><a href=\"https://laohu8.com/S/JE\">Just</a> last month, we were being warned that interest rates were ready to move meaningfully higher as inflation and the Federal Reserve were teaming up to end the massive low interest rate paradigm we have been stuck in for years. Then, seemingly out of nowhere, rates have dived lower, with the 10-year Treasury trading at a 1.32% yield, down from near 1.70% at the end of May. The benchmark 30-year Treasury bond is back at the 1.94% level. These are the lowest interest rate levels since last winter.</p><p><blockquote><a href=\"https://laohu8.com/S/JE\">刚刚</a>上个月，我们被警告说，随着通胀和美联储联手结束我们多年来陷入的大规模低利率模式，利率已准备好大幅走高。然后，利率似乎突然大幅走低，10年期国债收益率从5月底的近1.70%降至1.32%。基准30年期国债回到1.94%的水平。这是自去年冬天以来的最低利率水平。</blockquote></p><p> For income investors, this is another setback in what has become over a ten-year problem. While rates certainly could rise again, <a href=\"https://laohu8.com/S/AONE\">one</a> thing seems certain: the Federal Reserve will not raise rates until it is positive the economy is back at full strength. The only move the Fed looks poised to make in the near term is the beginning of the tapering of the $120 billion per month purchase of Treasury and mortgage debt.</p><p><blockquote>对于收益投资者来说，这是十多年来问题的又一次挫折。虽然利率肯定会再次上升，<a href=\"https://laohu8.com/S/AONE\">一</a>事情似乎是肯定的：在经济恢复全面强劲之前，美联储不会加息。美联储近期唯一准备采取的举措是开始缩减每月1200亿美元的国债和抵押贷款债务购买规模。</blockquote></p><p> We screened the BofA Securities research universe looking for blue chip stocks rated Buy that paid at least a 4% dividend. We found five that are very appealing now to growth and income investors. While all are rated Buy, it is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.</p><p><blockquote>我们筛选了美国银行证券研究领域，寻找支付至少4%股息的买入评级蓝筹股。我们发现了五种现在对成长型和收益型投资者非常有吸引力的股票。虽然所有报告都被评为买入，但重要的是要记住，任何分析师报告都不应用作任何买入或卖出决策的唯一依据。</blockquote></p><p> <a href=\"https://laohu8.com/S/MO\">Altria</a></p><p><blockquote><a href=\"https://laohu8.com/S/MO\">奥驰亚</a></blockquote></p><p> This maker of tobacco products offers value investors a great entry point now and was hit recently as cigarette sales have slowed. Altria Group Inc. (NYSE: MO) is the parent company of <a href=\"https://laohu8.com/S/PM\">Philip Morris</a> USA (cigarettes), UST (smokeless), John Middleton (cigars), Ste. Michelle Wine Estates and Philip Morris Capital. PMUSA enjoys a 51% share of the U.S. cigarette market, led by its top cigarette brand Marlboro.</p><p><blockquote>这家烟草产品制造商现在为价值投资者提供了一个很好的切入点，但最近由于卷烟销售放缓而受到打击。奥驰亚集团公司（纽约证券交易所股票代码：MO）是<a href=\"https://laohu8.com/S/PM\">菲利普·莫里斯</a>美国（香烟），UST（无烟），约翰米德尔顿（雪茄），Ste。米歇尔葡萄酒庄园和菲利普莫里斯资本。PMUSA在美国卷烟市场占据51%的份额，由其顶级卷烟品牌万宝路引领。</blockquote></p><p> Altria also owns over 10% of Anheuser-Busch InBev, the world’s largest brewer. In March 2008, it spun off its international cigarette business to shareholders. In December 2018, the company acquired 35% of Juul Labs, and it has purchased a 45% stake in cannabis company Cronus for $1.8 billion.</p><p><blockquote>奥驰亚还拥有全球最大啤酒制造商百威英博10%以上的股份。2008年3月，它将国际卷烟业务分拆给股东。2018年12月，该公司收购了Juul Labs 35%的股份，并以18亿美元收购了大麻公司Cronus 45%的股份。</blockquote></p><p> BofA Securities is very favorable toward the company’s plans for the future:</p><p><blockquote>美银证券非常看好该公司的未来计划：</blockquote></p><p>   Management presented at CAGNY (Consumer Analyst Group of <a href=\"https://laohu8.com/S/NWY\">New York</a>) where it discussed a new corporate focus on ESG, additional details on its IQOS plans and its “Moving beyond smoking” 10-yr plan. Smokeables (cigarettes/cigars) will remain an important part of its strategy, providing funding behind its long-term growth and shareholder returns. Over the last 5-yrs, smokeable and other comprehensive income grew at a 5.5% compounded annual growth rate despite volume declines.  Shareholders receive a 7.35% dividend. The analyst has a $58 target price on the shares, while the consensus target is lower at $53.89. Altria stock closed on Wednesday at $46.79 per share.</p><p><blockquote>管理层在CAGNY（消费者分析师小组<a href=\"https://laohu8.com/S/NWY\">纽约</a>）讨论了企业对ESG的新关注、IQOS计划及其“超越吸烟”10年计划的更多细节。Smokeables（香烟/雪茄）仍将是其战略的重要组成部分，为其长期增长和股东回报提供资金。在过去的5年里，尽管数量下降，吸烟和其他综合收入仍以5.5%的复合年增长率增长。股东获得7.35%的股息。分析师对该股的目标价为58美元，而共识目标价较低，为53.89美元。奥驰亚股价周三收于每股46.79美元。</blockquote></p><p> <a href=\"https://laohu8.com/S/CVX\">Chevron</a></p><p><blockquote><a href=\"https://laohu8.com/S/CVX\">雪佛龙</a></blockquote></p><p> This energy giant is a solid way for investors who are more conservative to be positioned in the sector. Chevron Corp. (NYSE: CVX) is a U.S.-based integrated oil and gas company, with worldwide operations in exploration and production, refining and marketing, transportation and petrochemicals. The company sports a sizable dividend and has a solid place in the sector when it comes to natural gas and liquefied natural gas.</p><p><blockquote>对于较为保守的投资者来说，这家能源巨头是在该行业定位的可靠途径。雪佛龙公司（纽约证券交易所股票代码：CVX）是一家总部位于美国的综合性石油和天然气公司，在勘探和生产、炼油和营销、运输和石化领域开展全球业务。该公司拥有可观的股息，并在天然气和液化天然气领域拥有稳固的地位。</blockquote></p><p> With the strongest financial base of the majors, coupled with an attractive relative asset base, many on Wall Street feel that Chevron offers the most straightforwardly positive risk/reward. Although current conditions do not warrant a large focus on production growth, Chevron possesses numerous medium-term drivers (<a href=\"https://laohu8.com/S/NBL\">Noble</a> integration, Permian, TCO/WPMP expansion, Gulf of Mexico exploration, Vaca Muerta, and so on) that should support production levels in the coming years.</p><p><blockquote>凭借各大巨头中最强大的财务基础，加上有吸引力的相对资产基础，华尔街的许多人认为雪佛龙提供了最直接的正风险/回报。尽管目前的情况不值得大力关注产量增长，但雪佛龙拥有众多中期驱动因素（<a href=\"https://laohu8.com/S/NBL\">高尚的</a>一体化、二叠纪、TCO/WPMP扩张、墨西哥湾勘探、Vaca Muerta等）应该会支持未来几年的生产水平。</blockquote></p><p> <a href=\"https://laohu8.com/S/IBM\">IBM</a></p><p><blockquote><a href=\"https://laohu8.com/S/IBM\">IBM</a></blockquote></p><p> This old-school tech giant still offers investors a very solid entry point. International Business Machines Corp. (NYSE: IBM) is a leading provider of enterprise solutions, offering a broad portfolio of information technology (IT) hardware, business and IT services, and a full suite of software solutions.</p><p><blockquote>这家老派科技巨头仍然为投资者提供了一个非常坚实的切入点。国际商业机器公司（纽约证券交易所代码：IBM）是一家领先的企业解决方案提供商，提供广泛的信息技术（IT）硬件、商业和IT服务以及全套软件解决方案。</blockquote></p><p> The company integrates its hardware products with its software and services offerings in order to provide high-value solutions. Analysts have cited the company’s potential in the public cloud as a reason for their positive outlook going forward.</p><p><blockquote>该公司将其硬件产品与其软件和服务产品相集成，以提供高价值的解决方案。分析师将该公司在公共云领域的潜力作为他们对未来前景持积极态度的原因。</blockquote></p><p> CEO Ginni Rommety, who had been in the position since 2012, stepped down in January, and the stock market greeted the news in a very positive manner. Arvind Krishna, who has led the company’s cloud computing business, became the new chief executive. Rometty will remain as executive board chair until the end of the year.</p><p><blockquote>自2012年以来一直担任该职位的首席执行官吉尼·罗梅蒂(Ginni Rommety)于1月份辞职，股市以非常积极的方式迎接这一消息。领导该公司云计算业务的Arvind Krishna成为新任首席执行官。罗睿兰将继续担任执行董事会主席直至今年年底。</blockquote></p><p></p><p> Holders of IBM stock receive a 4.69% dividend. The $175 BofA Securities price target is well above the $144.14 consensus figure. The shares closed at $139.82 on Wednesday.</p><p><blockquote>IBM股票持有人获得4.69%的股息。美国银行证券175美元的目标价远高于144.14美元的共识价。该股周三收于139.82美元。</blockquote></p><p> Shareholders receive a 5.21% dividend, which analysts feel comfortable will remain at current levels. The BofA Securities price target is $125, which compares to a $122.48 consensus target and the last Chevron stock trade on Wednesday at $102.93 a share.</p><p><blockquote>股东获得5.21%的股息，分析师认为股息将保持在当前水平。美国银行证券的目标价为125美元，而共识目标价为122.48美元，周三雪佛龙股票最后一次交易价格为每股102.93美元。</blockquote></p><p> LyondellBasell</p><p><blockquote>利安德巴塞尔</blockquote></p><p> This top chemical company with a sterling balance sheet is another solid play for conservative investors. LyondellBasell Industries N.V. (NYSE: LYB) manufactures chemicals and polymers, refines crude oil, produces gasoline blending components and develops and licenses technologies for production of polymers.</p><p><blockquote>这家拥有良好资产负债表的顶级化工公司是保守投资者的另一个可靠选择。利安德巴塞尔工业公司（纽约证券交易所股票代码：LYB）生产化学品和聚合物、精炼原油、生产汽油混合成分以及开发和许可聚合物生产技术。</blockquote></p><p> Over half of earnings are generated in the company’s Olefins and Polyolefins Americas segment, where costs are linked to the price of cheap natural gas in the <a href=\"https://laohu8.com/S/UBNK\">United</a> States, while selling prices are correlated with the price of oil. The company has pursued a strategy of low-cost, high return on invested capital debottlenecks coupled with cash returns to shareholders.</p><p><blockquote>超过一半的收入来自该公司的烯烃和聚烯烃美洲部门，该部门的成本与该地区廉价天然气的价格相关。<a href=\"https://laohu8.com/S/UBNK\">团结的</a>国家，而销售价格与石油价格相关。该公司奉行低成本、高投资资本回报率的战略，消除瓶颈，并向股东提供现金回报。</blockquote></p><p> Note that debottlenecking is the process of identifying specific areas or equipment in oil and gas facilities that limit the flow of product (known as bottlenecks) and optimizing them so that overall capacity in the plant can be increased.</p><p><blockquote>请注意，去瓶颈是识别石油和天然气设施中限制产品流动的特定区域或设备（称为瓶颈）并对其进行优化的过程，以便提高工厂的整体产能。</blockquote></p><p> The company offers a 4.50% dividend. BofA Securities has set a $117 price target. The consensus target is $118.41, and LyondellBasell stock ended Wednesday at $100.40 a share.</p><p><blockquote>该公司提供4.50%的股息。美银证券将目标价定为117美元。共识目标为118.41美元，利安德巴塞尔股票周三收于每股100.40美元。</blockquote></p><p></p>","source":"lsy1620372341666","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>5 Blue Chip Stocks to Buy With Huge Dividends as Interest Rates Plunge<blockquote>随着利率暴跌，值得买入并获得巨额股息的5只蓝筹股</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\">\n5 Blue Chip Stocks to Buy With Huge Dividends as Interest Rates Plunge<blockquote>随着利率暴跌，值得买入并获得巨额股息的5只蓝筹股</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">24/7 wall street</strong><span class=\"h-time small\">2021-07-09 12:05</span>\n</p>\n</h4>\n</header>\n<article>\n<p><a href=\"https://laohu8.com/S/JE\">Just</a> last month, we were being warned that interest rates were ready to move meaningfully higher as inflation and the Federal Reserve were teaming up to end the massive low interest rate paradigm we have been stuck in for years. Then, seemingly out of nowhere, rates have dived lower, with the 10-year Treasury trading at a 1.32% yield, down from near 1.70% at the end of May. The benchmark 30-year Treasury bond is back at the 1.94% level. These are the lowest interest rate levels since last winter.</p><p><blockquote><a href=\"https://laohu8.com/S/JE\">刚刚</a>上个月，我们被警告说，随着通胀和美联储联手结束我们多年来陷入的大规模低利率模式，利率已准备好大幅走高。然后，利率似乎突然大幅走低，10年期国债收益率从5月底的近1.70%降至1.32%。基准30年期国债回到1.94%的水平。这是自去年冬天以来的最低利率水平。</blockquote></p><p> For income investors, this is another setback in what has become over a ten-year problem. While rates certainly could rise again, <a href=\"https://laohu8.com/S/AONE\">one</a> thing seems certain: the Federal Reserve will not raise rates until it is positive the economy is back at full strength. The only move the Fed looks poised to make in the near term is the beginning of the tapering of the $120 billion per month purchase of Treasury and mortgage debt.</p><p><blockquote>对于收益投资者来说，这是十多年来问题的又一次挫折。虽然利率肯定会再次上升，<a href=\"https://laohu8.com/S/AONE\">一</a>事情似乎是肯定的：在经济恢复全面强劲之前，美联储不会加息。美联储近期唯一准备采取的举措是开始缩减每月1200亿美元的国债和抵押贷款债务购买规模。</blockquote></p><p> We screened the BofA Securities research universe looking for blue chip stocks rated Buy that paid at least a 4% dividend. We found five that are very appealing now to growth and income investors. While all are rated Buy, it is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.</p><p><blockquote>我们筛选了美国银行证券研究领域，寻找支付至少4%股息的买入评级蓝筹股。我们发现了五种现在对成长型和收益型投资者非常有吸引力的股票。虽然所有报告都被评为买入，但重要的是要记住，任何分析师报告都不应用作任何买入或卖出决策的唯一依据。</blockquote></p><p> <a href=\"https://laohu8.com/S/MO\">Altria</a></p><p><blockquote><a href=\"https://laohu8.com/S/MO\">奥驰亚</a></blockquote></p><p> This maker of tobacco products offers value investors a great entry point now and was hit recently as cigarette sales have slowed. Altria Group Inc. (NYSE: MO) is the parent company of <a href=\"https://laohu8.com/S/PM\">Philip Morris</a> USA (cigarettes), UST (smokeless), John Middleton (cigars), Ste. Michelle Wine Estates and Philip Morris Capital. PMUSA enjoys a 51% share of the U.S. cigarette market, led by its top cigarette brand Marlboro.</p><p><blockquote>这家烟草产品制造商现在为价值投资者提供了一个很好的切入点，但最近由于卷烟销售放缓而受到打击。奥驰亚集团公司（纽约证券交易所股票代码：MO）是<a href=\"https://laohu8.com/S/PM\">菲利普·莫里斯</a>美国（香烟），UST（无烟），约翰米德尔顿（雪茄），Ste。米歇尔葡萄酒庄园和菲利普莫里斯资本。PMUSA在美国卷烟市场占据51%的份额，由其顶级卷烟品牌万宝路引领。</blockquote></p><p> Altria also owns over 10% of Anheuser-Busch InBev, the world’s largest brewer. In March 2008, it spun off its international cigarette business to shareholders. In December 2018, the company acquired 35% of Juul Labs, and it has purchased a 45% stake in cannabis company Cronus for $1.8 billion.</p><p><blockquote>奥驰亚还拥有全球最大啤酒制造商百威英博10%以上的股份。2008年3月，它将国际卷烟业务分拆给股东。2018年12月，该公司收购了Juul Labs 35%的股份，并以18亿美元收购了大麻公司Cronus 45%的股份。</blockquote></p><p> BofA Securities is very favorable toward the company’s plans for the future:</p><p><blockquote>美银证券非常看好该公司的未来计划：</blockquote></p><p>   Management presented at CAGNY (Consumer Analyst Group of <a href=\"https://laohu8.com/S/NWY\">New York</a>) where it discussed a new corporate focus on ESG, additional details on its IQOS plans and its “Moving beyond smoking” 10-yr plan. Smokeables (cigarettes/cigars) will remain an important part of its strategy, providing funding behind its long-term growth and shareholder returns. Over the last 5-yrs, smokeable and other comprehensive income grew at a 5.5% compounded annual growth rate despite volume declines.  Shareholders receive a 7.35% dividend. The analyst has a $58 target price on the shares, while the consensus target is lower at $53.89. Altria stock closed on Wednesday at $46.79 per share.</p><p><blockquote>管理层在CAGNY（消费者分析师小组<a href=\"https://laohu8.com/S/NWY\">纽约</a>）讨论了企业对ESG的新关注、IQOS计划及其“超越吸烟”10年计划的更多细节。Smokeables（香烟/雪茄）仍将是其战略的重要组成部分，为其长期增长和股东回报提供资金。在过去的5年里，尽管数量下降，吸烟和其他综合收入仍以5.5%的复合年增长率增长。股东获得7.35%的股息。分析师对该股的目标价为58美元，而共识目标价较低，为53.89美元。奥驰亚股价周三收于每股46.79美元。</blockquote></p><p> <a href=\"https://laohu8.com/S/CVX\">Chevron</a></p><p><blockquote><a href=\"https://laohu8.com/S/CVX\">雪佛龙</a></blockquote></p><p> This energy giant is a solid way for investors who are more conservative to be positioned in the sector. Chevron Corp. (NYSE: CVX) is a U.S.-based integrated oil and gas company, with worldwide operations in exploration and production, refining and marketing, transportation and petrochemicals. The company sports a sizable dividend and has a solid place in the sector when it comes to natural gas and liquefied natural gas.</p><p><blockquote>对于较为保守的投资者来说，这家能源巨头是在该行业定位的可靠途径。雪佛龙公司（纽约证券交易所股票代码：CVX）是一家总部位于美国的综合性石油和天然气公司，在勘探和生产、炼油和营销、运输和石化领域开展全球业务。该公司拥有可观的股息，并在天然气和液化天然气领域拥有稳固的地位。</blockquote></p><p> With the strongest financial base of the majors, coupled with an attractive relative asset base, many on Wall Street feel that Chevron offers the most straightforwardly positive risk/reward. Although current conditions do not warrant a large focus on production growth, Chevron possesses numerous medium-term drivers (<a href=\"https://laohu8.com/S/NBL\">Noble</a> integration, Permian, TCO/WPMP expansion, Gulf of Mexico exploration, Vaca Muerta, and so on) that should support production levels in the coming years.</p><p><blockquote>凭借各大巨头中最强大的财务基础，加上有吸引力的相对资产基础，华尔街的许多人认为雪佛龙提供了最直接的正风险/回报。尽管目前的情况不值得大力关注产量增长，但雪佛龙拥有众多中期驱动因素（<a href=\"https://laohu8.com/S/NBL\">高尚的</a>一体化、二叠纪、TCO/WPMP扩张、墨西哥湾勘探、Vaca Muerta等）应该会支持未来几年的生产水平。</blockquote></p><p> <a href=\"https://laohu8.com/S/IBM\">IBM</a></p><p><blockquote><a href=\"https://laohu8.com/S/IBM\">IBM</a></blockquote></p><p> This old-school tech giant still offers investors a very solid entry point. International Business Machines Corp. (NYSE: IBM) is a leading provider of enterprise solutions, offering a broad portfolio of information technology (IT) hardware, business and IT services, and a full suite of software solutions.</p><p><blockquote>这家老派科技巨头仍然为投资者提供了一个非常坚实的切入点。国际商业机器公司（纽约证券交易所代码：IBM）是一家领先的企业解决方案提供商，提供广泛的信息技术（IT）硬件、商业和IT服务以及全套软件解决方案。</blockquote></p><p> The company integrates its hardware products with its software and services offerings in order to provide high-value solutions. Analysts have cited the company’s potential in the public cloud as a reason for their positive outlook going forward.</p><p><blockquote>该公司将其硬件产品与其软件和服务产品相集成，以提供高价值的解决方案。分析师将该公司在公共云领域的潜力作为他们对未来前景持积极态度的原因。</blockquote></p><p> CEO Ginni Rommety, who had been in the position since 2012, stepped down in January, and the stock market greeted the news in a very positive manner. Arvind Krishna, who has led the company’s cloud computing business, became the new chief executive. Rometty will remain as executive board chair until the end of the year.</p><p><blockquote>自2012年以来一直担任该职位的首席执行官吉尼·罗梅蒂(Ginni Rommety)于1月份辞职，股市以非常积极的方式迎接这一消息。领导该公司云计算业务的Arvind Krishna成为新任首席执行官。罗睿兰将继续担任执行董事会主席直至今年年底。</blockquote></p><p></p><p> Holders of IBM stock receive a 4.69% dividend. The $175 BofA Securities price target is well above the $144.14 consensus figure. The shares closed at $139.82 on Wednesday.</p><p><blockquote>IBM股票持有人获得4.69%的股息。美国银行证券175美元的目标价远高于144.14美元的共识价。该股周三收于139.82美元。</blockquote></p><p> Shareholders receive a 5.21% dividend, which analysts feel comfortable will remain at current levels. The BofA Securities price target is $125, which compares to a $122.48 consensus target and the last Chevron stock trade on Wednesday at $102.93 a share.</p><p><blockquote>股东获得5.21%的股息，分析师认为股息将保持在当前水平。美国银行证券的目标价为125美元，而共识目标价为122.48美元，周三雪佛龙股票最后一次交易价格为每股102.93美元。</blockquote></p><p> LyondellBasell</p><p><blockquote>利安德巴塞尔</blockquote></p><p> This top chemical company with a sterling balance sheet is another solid play for conservative investors. LyondellBasell Industries N.V. (NYSE: LYB) manufactures chemicals and polymers, refines crude oil, produces gasoline blending components and develops and licenses technologies for production of polymers.</p><p><blockquote>这家拥有良好资产负债表的顶级化工公司是保守投资者的另一个可靠选择。利安德巴塞尔工业公司（纽约证券交易所股票代码：LYB）生产化学品和聚合物、精炼原油、生产汽油混合成分以及开发和许可聚合物生产技术。</blockquote></p><p> Over half of earnings are generated in the company’s Olefins and Polyolefins Americas segment, where costs are linked to the price of cheap natural gas in the <a href=\"https://laohu8.com/S/UBNK\">United</a> States, while selling prices are correlated with the price of oil. The company has pursued a strategy of low-cost, high return on invested capital debottlenecks coupled with cash returns to shareholders.</p><p><blockquote>超过一半的收入来自该公司的烯烃和聚烯烃美洲部门，该部门的成本与该地区廉价天然气的价格相关。<a href=\"https://laohu8.com/S/UBNK\">团结的</a>国家，而销售价格与石油价格相关。该公司奉行低成本、高投资资本回报率的战略，消除瓶颈，并向股东提供现金回报。</blockquote></p><p> Note that debottlenecking is the process of identifying specific areas or equipment in oil and gas facilities that limit the flow of product (known as bottlenecks) and optimizing them so that overall capacity in the plant can be increased.</p><p><blockquote>请注意，去瓶颈是识别石油和天然气设施中限制产品流动的特定区域或设备（称为瓶颈）并对其进行优化的过程，以便提高工厂的整体产能。</blockquote></p><p> The company offers a 4.50% dividend. BofA Securities has set a $117 price target. The consensus target is $118.41, and LyondellBasell stock ended Wednesday at $100.40 a share.</p><p><blockquote>该公司提供4.50%的股息。美银证券将目标价定为117美元。共识目标为118.41美元，利安德巴塞尔股票周三收于每股100.40美元。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://247wallst.com/investing/2021/07/08/5-blue-chip-stocks-to-buy-with-huge-dividends-as-interest-rates-plunge/\">24/7 wall street</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://247wallst.com/investing/2021/07/08/5-blue-chip-stocks-to-buy-with-huge-dividends-as-interest-rates-plunge/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1119741032","content_text":"Just last month, we were being warned that interest rates were ready to move meaningfully higher as inflation and the Federal Reserve were teaming up to end the massive low interest rate paradigm we have been stuck in for years. Then, seemingly out of nowhere, rates have dived lower, with the 10-year Treasury trading at a 1.32% yield, down from near 1.70% at the end of May. The benchmark 30-year Treasury bond is back at the 1.94% level. These are the lowest interest rate levels since last winter.\nFor income investors, this is another setback in what has become over a ten-year problem. While rates certainly could rise again, one thing seems certain: the Federal Reserve will not raise rates until it is positive the economy is back at full strength. The only move the Fed looks poised to make in the near term is the beginning of the tapering of the $120 billion per month purchase of Treasury and mortgage debt.\nWe screened the BofA Securities research universe looking for blue chip stocks rated Buy that paid at least a 4% dividend. We found five that are very appealing now to growth and income investors. While all are rated Buy, it is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.\nAltria\nThis maker of tobacco products offers value investors a great entry point now and was hit recently as cigarette sales have slowed. Altria Group Inc. (NYSE: MO) is the parent company of Philip Morris USA (cigarettes), UST (smokeless), John Middleton (cigars), Ste. Michelle Wine Estates and Philip Morris Capital. PMUSA enjoys a 51% share of the U.S. cigarette market, led by its top cigarette brand Marlboro.\nAltria also owns over 10% of Anheuser-Busch InBev, the world’s largest brewer. In March 2008, it spun off its international cigarette business to shareholders. In December 2018, the company acquired 35% of Juul Labs, and it has purchased a 45% stake in cannabis company Cronus for $1.8 billion.\nBofA Securities is very favorable toward the company’s plans for the future:\n\n Management presented at CAGNY (Consumer Analyst Group of New York) where it discussed a new corporate focus on ESG, additional details on its IQOS plans and its “Moving beyond smoking” 10-yr plan. Smokeables (cigarettes/cigars) will remain an important part of its strategy, providing funding behind its long-term growth and shareholder returns. Over the last 5-yrs, smokeable and other comprehensive income grew at a 5.5% compounded annual growth rate despite volume declines.\n\nShareholders receive a 7.35% dividend. The analyst has a $58 target price on the shares, while the consensus target is lower at $53.89. Altria stock closed on Wednesday at $46.79 per share.\nChevron\nThis energy giant is a solid way for investors who are more conservative to be positioned in the sector. Chevron Corp. (NYSE: CVX) is a U.S.-based integrated oil and gas company, with worldwide operations in exploration and production, refining and marketing, transportation and petrochemicals. The company sports a sizable dividend and has a solid place in the sector when it comes to natural gas and liquefied natural gas.\nWith the strongest financial base of the majors, coupled with an attractive relative asset base, many on Wall Street feel that Chevron offers the most straightforwardly positive risk/reward. Although current conditions do not warrant a large focus on production growth, Chevron possesses numerous medium-term drivers (Noble integration, Permian, TCO/WPMP expansion, Gulf of Mexico exploration, Vaca Muerta, and so on) that should support production levels in the coming years.\nIBM\nThis old-school tech giant still offers investors a very solid entry point. International Business Machines Corp. (NYSE: IBM) is a leading provider of enterprise solutions, offering a broad portfolio of information technology (IT) hardware, business and IT services, and a full suite of software solutions.\nThe company integrates its hardware products with its software and services offerings in order to provide high-value solutions. Analysts have cited the company’s potential in the public cloud as a reason for their positive outlook going forward.\nCEO Ginni Rommety, who had been in the position since 2012, stepped down in January, and the stock market greeted the news in a very positive manner. Arvind Krishna, who has led the company’s cloud computing business, became the new chief executive. Rometty will remain as executive board chair until the end of the year.\nHolders of IBM stock receive a 4.69% dividend. The $175 BofA Securities price target is well above the $144.14 consensus figure. The shares closed at $139.82 on Wednesday.\nShareholders receive a 5.21% dividend, which analysts feel comfortable will remain at current levels. The BofA Securities price target is $125, which compares to a $122.48 consensus target and the last Chevron stock trade on Wednesday at $102.93 a share.\nLyondellBasell\nThis top chemical company with a sterling balance sheet is another solid play for conservative investors. LyondellBasell Industries N.V. (NYSE: LYB) manufactures chemicals and polymers, refines crude oil, produces gasoline blending components and develops and licenses technologies for production of polymers.\nOver half of earnings are generated in the company’s Olefins and Polyolefins Americas segment, where costs are linked to the price of cheap natural gas in the United States, while selling prices are correlated with the price of oil. The company has pursued a strategy of low-cost, high return on invested capital debottlenecks coupled with cash returns to shareholders.\nNote that debottlenecking is the process of identifying specific areas or equipment in oil and gas facilities that limit the flow of product (known as bottlenecks) and optimizing them so that overall capacity in the plant can be increased.\nThe company offers a 4.50% dividend. BofA Securities has set a $117 price target. The consensus target is $118.41, and LyondellBasell stock ended Wednesday at $100.40 a share.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":3178,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187439871,"gmtCreate":1623761349693,"gmtModify":1631890348084,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575346220147121","idStr":"3575346220147121"},"themes":[],"htmlText":"Like and comment pls&nbsp;","listText":"Like and comment pls&nbsp;","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/187439871","repostId":"1127660571","repostType":4,"repost":{"id":"1127660571","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":1623760680,"share":"https://www.laohu8.com/m/news/1127660571?lang=zh_CN&edition=full","pubTime":"2021-06-15 20:38","market":"us","language":"en","title":"Toplines Before US Market Open on Tuesday<blockquote>周二美国市场开盘前的营收</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1127660571","media":"Tiger Newspress","summary":"Stock futures edge up ahead of retail sales data.\nS&P 500 index is headed toward its 30th record clo","content":"<p><ul>  <li>Stock futures edge up ahead of retail sales data.</li>  <li>S&amp;P 500 index is headed toward its 30th record close of the year, bolstered by gains in tech stocks.</li>  <li><b>Increase in in PPI over past 12 months rises to 6.6% from 6.2%.</b></li>  <li><b>U.S. retail sales minus gas and autos fall 0.8% in May.</b></li>  <li><b>U.S. retail sales minus gas and autos fall 0.8% in May.</b></li> </ul> (June 15)&nbsp;<b>Producer prices climb 6.6% in May on annual basis, largest 12-month increase on record.</b>&nbsp;Producer prices rose at their fastest annual clip in nearly 11 years in May as inflation continued to build in the U.S. economy, the Labor Department reported Tuesday.</p><p><blockquote><ul><li>股票期货在零售销售数据公布前小幅上涨。</li><li>在科技股上涨的推动下，标普500指数即将创下今年第30个收盘纪录。</li><li><b>过去12个月PPI涨幅从6.2%升至6.6%。</b></li><li><b>美国5月份扣除汽油和汽车的零售额下降0.8%。</b></li><li><b>美国5月份扣除汽油和汽车的零售额下降0.8%。</b></li></ul>（6月15日）<b>5月份生产者价格按年率计算上涨6.6%，为有记录以来的12个月最大涨幅。</b>美国劳工部周二报告称，随着美国经济通胀持续加剧，5月份生产者价格涨幅创近11年来最快。</blockquote></p><p> On a monthly basis, the producer price index for final demand rose 0.8%, ahead of the Dow Jones estimate of 0.6%.</p><p><blockquote>按月计算，最终需求生产者价格指数上涨0.8%，高于道琼斯预期的0.6%。</blockquote></p><p> <b>Stock&nbsp;Market</b></p><p><blockquote><b>股票市场</b></blockquote></p><p> U.S. stock futures edged higher Tuesday ahead of fresh data that will indicate how much Americans spent in stores, at restaurants and online last month.</p><p><blockquote>美国股指期货周二小幅走高，新数据将显示美国人上个月在商店、餐馆和网上的支出。</blockquote></p><p> Futures tied to the S&amp;P 500 ticked up 0.1%, indicating that the broad benchmark index is on track to notch its thirtieth record close of the year. Nasdaq-100 futures gained 0.2%, pointing togains in technology stocksafter the opening bell.</p><p><blockquote>与标普500相关的期货上涨0.1%，表明该广泛的基准指数有望创下今年第三十个收盘纪录。纳斯达克100指数期货上涨0.2%，表明开盘后科技股上涨。</blockquote></p><p> At 8:38&nbsp;a.m. ET, Dow e-minis were up 18 points, or 0.05%, S&amp;P 500 e-minis were up 5.5 points, or 0.13%, and Nasdaq 100 e-minis were up 24.75 points, or 0.18%.</p><p><blockquote>上午8点38分。ET，道指e-minis上涨18点，涨幅0.05%，标普500 e-minis上涨5.5点，涨幅0.13%，纳斯达克100 e-minis上涨24.75点，涨幅0.18%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/86af5e5e5e4faf68b304fa020ca3a033\" tg-width=\"1242\" tg-height=\"487\"></p><p><blockquote></blockquote></p><p> Investors expect that stocks will climb through the rest of the year due to easy monetary policies. Many people are also betting thathigher inflation, due to the easing of economic restrictions and supply-chain bottlenecks, will be temporary. Signs that inflation will be elevated for a prolonged period or that theFederal Reserve may retrace its supportcould shake that confidence, money managers said.</p><p><blockquote>投资者预计，由于宽松的货币政策，股市将在今年剩余时间内攀升。许多人还押注，由于经济限制和供应链瓶颈的缓解，通胀上升将是暂时的。基金经理表示，通胀将长期上升或美联储可能收回支持的迹象可能会动摇这种信心。</blockquote></p><p> <b>Stocks making the biggest moves in the premarket: Vroom, Ping Identity, Sage Therapeutics &amp; more</b></p><p><blockquote><b>盘前涨幅最大的股票：Vroom、Ping Identity、Sage Therapeutics等</b></blockquote></p><p> <b>1)&nbsp;Vroom(VRM)</b> – Vroom intends to offer $500 million in convertible senior notes due in 2026. The used-vehicle e-commerce platform provider plans to use the proceeds for a variety of corporate purposes as well as investing in or acquiring new technologies. Its shares slid 6.1% in premarket trading.</p><p><blockquote><b>1）轰鸣（VRM）</b>-Vroom打算发行2026年到期的5亿美元可转换优先票据。这家二手车电子商务平台提供商计划将所得款项用于各种企业用途以及投资或收购新技术。其股价在盘前交易中下跌6.1%。</blockquote></p><p> <b>2)&nbsp;Ping Identity(PING) </b>– Ping Identity announced a 6 million share common stock offering, in a sale of shares held by investment funds affiliated with Vista Equity Partners. The identity management solutions company will not receive any proceeds from the offering. The stock tumbled 4.2% in premarket action.</p><p><blockquote><b>2）PING身份（PING）</b>-Ping Identity宣布发行600万股普通股，出售Vista Equity Partners附属投资基金持有的股份。身份管理解决方案公司不会从此次发行中获得任何收益。该股在盘前下跌4.2%。</blockquote></p><p> <b>3)&nbsp;Sage Therapeutics(SAGE)</b> – The drugmaker’s shares tanked 17.5% in premarket trading following the release of study results for Sage’s experimental depression drug. The treatment resulted in a statistically significant improvement in symptoms, although it could take up to six weeks to be effective and treatment may be required for months.</p><p><blockquote><b>3）Sage Therapeutics（SAGE）</b>-在Sage实验性抑郁症药物的研究结果发布后，该制药商的股价在盘前交易中下跌17.5%。该治疗导致症状的统计学显著改善，尽管可能需要长达六周才能有效，并且可能需要数月的治疗。</blockquote></p><p> <b>4)&nbsp;Boeing(BA) </b>– The U.S. and European Union announced aresolution of the long-standing disputeover aircraft subsidies involving Boeing and European rival Airbus. The deal suspends World Trade Organization-authorized tariffs for five years, and U.S. Trade Representative Katherine Tai said it could serve as a model for resolving future disputes.</p><p><blockquote><b>4）波音（BA）</b>-美国和欧盟宣布解决涉及波音公司和欧洲竞争对手空中客车公司的长期飞机补贴争端。该协议将世界贸易组织授权的关税暂停五年，美国贸易代表凯瑟琳·戴表示，该协议可以作为解决未来争端的典范。</blockquote></p><p> <b>5)&nbsp;Exxon Mobil(XOM) </b>– Bank of America reiterated a “buy” rating on the energy giant’s stock, predicting that Exxon Mobil would hike its dividend before the end of the year following cost-cutting measures and a rebound in oil prices.</p><p><blockquote><b>5)埃克森美孚(XOM)</b>——美国银行重申了对这家能源巨头股票的“买入”评级，预计在成本削减措施和油价反弹后，埃克森美孚将在年底前提高股息。</blockquote></p><p> <b>6)&nbsp;Spirit Airlines(SAVE)</b> – Spirit Airlines said in a Securities and Exchange Commission filing that leisure demand has continued to improve throughout the second quarter, and that it has seen operating yields strengthen as well. Citi upgraded the stock to “buy” from “neutral” following that update, and shares rallied 2.6% in the premarket.</p><p><blockquote><b>6)精神航空(SAVE)</b>-精神航空在向美国证券交易委员会提交的文件中表示，整个第二季度休闲需求持续改善，营业收益率也有所增强。更新后，花旗将该股评级从“中性”上调至“买入”，股价在盘前上涨2.6%。</blockquote></p><p> <b>7)&nbsp;Fastenal(FAST)</b> – The maker of industrial and construction supplies was downgraded to “underweight” from “equal-weight” at Morgan Stanley, which notes a lull in customer acquisition as well as a stock that is already near an all-time high. The stock slid 2.2% in the premarket.</p><p><blockquote><b>7）Fastenal（快速）</b>-摩根士丹利将这家工业和建筑用品制造商的评级从“同等权重”下调至“跑输大盘”，摩根士丹利指出，客户获取量出现平静，而且该股已接近历史高点。该股盘前下跌2.2%。</blockquote></p><p> <b>8)&nbsp;AstraZeneca(AZN) </b>– AstraZeneca said an experimental monoclonal antibody treatment did not meet its main goal of preventing Covid-19 in patients who had been exposed to the virus. The company also said, however, that its Covid-19 vaccine is 92% effective against the so-called “Delta” variant of the virus.</p><p><blockquote><b>8）阿斯利康（AZN）</b>-阿斯利康表示，一种实验性单克隆抗体治疗方法没有达到其在接触过该病毒的患者中预防Covid-19的主要目标。然而，该公司还表示，其Covid-19疫苗对所谓的“Delta”病毒变种的有效率为92%。</blockquote></p><p> <b>9)&nbsp;Cracker Barrel(CBRL)</b> – Cracker Barrel announced a $275 million private offering of convertible senior notes due in 2026. The restaurant chain will use the proceeds to pay debt and for general corporate purposes.</p><p><blockquote><b>9）裂解桶（CBRL）</b>-Cracker Barrel宣布私募2.75亿美元2026年到期的可转换优先票据。该连锁餐厅将利用所得款项偿还债务和用于一般公司用途。</blockquote></p><p></p><p> <b>10)&nbsp;Novavax(NVAX)</b> – Novavax announced positive results from its first study of its Covid-19 vaccine and a flu vaccine administered simultaneously. The study suggested that simultaneous vaccination may be a viable strategy.</p><p><blockquote><b>10)诺瓦瓦克斯(NVAX)</b>-Novavax宣布其Covid-19疫苗和流感疫苗同时接种的首次研究取得积极结果。该研究表明，同时接种疫苗可能是一种可行的策略。</blockquote></p><p> <b>11)&nbsp;Intuit(INTU)</b> – The financial software company revealed in an SEC filing that its QuickBooks online service saw new customer acquisition grow by more than 25% year-over-year for the nine months ended April 30. Intuit shares had hit an all-time high in Monday’s trading.</p><p><blockquote><b>11）Intuit（INTU）</b>–这家金融软件公司在向SEC提交的文件中透露，截至4月30日的九个月内，其QuickBooks online服务的新客户获取量同比增长超过25%。Intuit股价在周一的交易中创下历史新高。</blockquote></p><p> <b>12)&nbsp;Vimeo(VMEO)</b> – Vimeo reported that total revenue in May rose 42% from a year ago, with the video services company also seeing average revenue per user up 18%.</p><p><blockquote><b>12)Vimeo(VMEO)</b>-Vimeo报告称，5月份总收入同比增长42%，这家视频服务公司的每用户平均收入也增长了18%。</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>Toplines Before US Market Open on Tuesday<blockquote>周二美国市场开盘前的营收</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; 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}\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\">\nToplines Before US Market Open on Tuesday<blockquote>周二美国市场开盘前的营收</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\">2021-06-15 20:38</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><ul>  <li>Stock futures edge up ahead of retail sales data.</li>  <li>S&amp;P 500 index is headed toward its 30th record close of the year, bolstered by gains in tech stocks.</li>  <li><b>Increase in in PPI over past 12 months rises to 6.6% from 6.2%.</b></li>  <li><b>U.S. retail sales minus gas and autos fall 0.8% in May.</b></li>  <li><b>U.S. retail sales minus gas and autos fall 0.8% in May.</b></li> </ul> (June 15)&nbsp;<b>Producer prices climb 6.6% in May on annual basis, largest 12-month increase on record.</b>&nbsp;Producer prices rose at their fastest annual clip in nearly 11 years in May as inflation continued to build in the U.S. economy, the Labor Department reported Tuesday.</p><p><blockquote><ul><li>股票期货在零售销售数据公布前小幅上涨。</li><li>在科技股上涨的推动下，标普500指数即将创下今年第30个收盘纪录。</li><li><b>过去12个月PPI涨幅从6.2%升至6.6%。</b></li><li><b>美国5月份扣除汽油和汽车的零售额下降0.8%。</b></li><li><b>美国5月份扣除汽油和汽车的零售额下降0.8%。</b></li></ul>（6月15日）<b>5月份生产者价格按年率计算上涨6.6%，为有记录以来的12个月最大涨幅。</b>美国劳工部周二报告称，随着美国经济通胀持续加剧，5月份生产者价格涨幅创近11年来最快。</blockquote></p><p> On a monthly basis, the producer price index for final demand rose 0.8%, ahead of the Dow Jones estimate of 0.6%.</p><p><blockquote>按月计算，最终需求生产者价格指数上涨0.8%，高于道琼斯预期的0.6%。</blockquote></p><p> <b>Stock&nbsp;Market</b></p><p><blockquote><b>股票市场</b></blockquote></p><p> U.S. stock futures edged higher Tuesday ahead of fresh data that will indicate how much Americans spent in stores, at restaurants and online last month.</p><p><blockquote>美国股指期货周二小幅走高，新数据将显示美国人上个月在商店、餐馆和网上的支出。</blockquote></p><p> Futures tied to the S&amp;P 500 ticked up 0.1%, indicating that the broad benchmark index is on track to notch its thirtieth record close of the year. Nasdaq-100 futures gained 0.2%, pointing togains in technology stocksafter the opening bell.</p><p><blockquote>与标普500相关的期货上涨0.1%，表明该广泛的基准指数有望创下今年第三十个收盘纪录。纳斯达克100指数期货上涨0.2%，表明开盘后科技股上涨。</blockquote></p><p> At 8:38&nbsp;a.m. ET, Dow e-minis were up 18 points, or 0.05%, S&amp;P 500 e-minis were up 5.5 points, or 0.13%, and Nasdaq 100 e-minis were up 24.75 points, or 0.18%.</p><p><blockquote>上午8点38分。ET，道指e-minis上涨18点，涨幅0.05%，标普500 e-minis上涨5.5点，涨幅0.13%，纳斯达克100 e-minis上涨24.75点，涨幅0.18%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/86af5e5e5e4faf68b304fa020ca3a033\" tg-width=\"1242\" tg-height=\"487\"></p><p><blockquote></blockquote></p><p> Investors expect that stocks will climb through the rest of the year due to easy monetary policies. Many people are also betting thathigher inflation, due to the easing of economic restrictions and supply-chain bottlenecks, will be temporary. Signs that inflation will be elevated for a prolonged period or that theFederal Reserve may retrace its supportcould shake that confidence, money managers said.</p><p><blockquote>投资者预计，由于宽松的货币政策，股市将在今年剩余时间内攀升。许多人还押注，由于经济限制和供应链瓶颈的缓解，通胀上升将是暂时的。基金经理表示，通胀将长期上升或美联储可能收回支持的迹象可能会动摇这种信心。</blockquote></p><p> <b>Stocks making the biggest moves in the premarket: Vroom, Ping Identity, Sage Therapeutics &amp; more</b></p><p><blockquote><b>盘前涨幅最大的股票：Vroom、Ping Identity、Sage Therapeutics等</b></blockquote></p><p> <b>1)&nbsp;Vroom(VRM)</b> – Vroom intends to offer $500 million in convertible senior notes due in 2026. The used-vehicle e-commerce platform provider plans to use the proceeds for a variety of corporate purposes as well as investing in or acquiring new technologies. Its shares slid 6.1% in premarket trading.</p><p><blockquote><b>1）轰鸣（VRM）</b>-Vroom打算发行2026年到期的5亿美元可转换优先票据。这家二手车电子商务平台提供商计划将所得款项用于各种企业用途以及投资或收购新技术。其股价在盘前交易中下跌6.1%。</blockquote></p><p> <b>2)&nbsp;Ping Identity(PING) </b>– Ping Identity announced a 6 million share common stock offering, in a sale of shares held by investment funds affiliated with Vista Equity Partners. The identity management solutions company will not receive any proceeds from the offering. The stock tumbled 4.2% in premarket action.</p><p><blockquote><b>2）PING身份（PING）</b>-Ping Identity宣布发行600万股普通股，出售Vista Equity Partners附属投资基金持有的股份。身份管理解决方案公司不会从此次发行中获得任何收益。该股在盘前下跌4.2%。</blockquote></p><p> <b>3)&nbsp;Sage Therapeutics(SAGE)</b> – The drugmaker’s shares tanked 17.5% in premarket trading following the release of study results for Sage’s experimental depression drug. The treatment resulted in a statistically significant improvement in symptoms, although it could take up to six weeks to be effective and treatment may be required for months.</p><p><blockquote><b>3）Sage Therapeutics（SAGE）</b>-在Sage实验性抑郁症药物的研究结果发布后，该制药商的股价在盘前交易中下跌17.5%。该治疗导致症状的统计学显著改善，尽管可能需要长达六周才能有效，并且可能需要数月的治疗。</blockquote></p><p> <b>4)&nbsp;Boeing(BA) </b>– The U.S. and European Union announced aresolution of the long-standing disputeover aircraft subsidies involving Boeing and European rival Airbus. The deal suspends World Trade Organization-authorized tariffs for five years, and U.S. Trade Representative Katherine Tai said it could serve as a model for resolving future disputes.</p><p><blockquote><b>4）波音（BA）</b>-美国和欧盟宣布解决涉及波音公司和欧洲竞争对手空中客车公司的长期飞机补贴争端。该协议将世界贸易组织授权的关税暂停五年，美国贸易代表凯瑟琳·戴表示，该协议可以作为解决未来争端的典范。</blockquote></p><p> <b>5)&nbsp;Exxon Mobil(XOM) </b>– Bank of America reiterated a “buy” rating on the energy giant’s stock, predicting that Exxon Mobil would hike its dividend before the end of the year following cost-cutting measures and a rebound in oil prices.</p><p><blockquote><b>5)埃克森美孚(XOM)</b>——美国银行重申了对这家能源巨头股票的“买入”评级，预计在成本削减措施和油价反弹后，埃克森美孚将在年底前提高股息。</blockquote></p><p> <b>6)&nbsp;Spirit Airlines(SAVE)</b> – Spirit Airlines said in a Securities and Exchange Commission filing that leisure demand has continued to improve throughout the second quarter, and that it has seen operating yields strengthen as well. Citi upgraded the stock to “buy” from “neutral” following that update, and shares rallied 2.6% in the premarket.</p><p><blockquote><b>6)精神航空(SAVE)</b>-精神航空在向美国证券交易委员会提交的文件中表示，整个第二季度休闲需求持续改善，营业收益率也有所增强。更新后，花旗将该股评级从“中性”上调至“买入”，股价在盘前上涨2.6%。</blockquote></p><p> <b>7)&nbsp;Fastenal(FAST)</b> – The maker of industrial and construction supplies was downgraded to “underweight” from “equal-weight” at Morgan Stanley, which notes a lull in customer acquisition as well as a stock that is already near an all-time high. The stock slid 2.2% in the premarket.</p><p><blockquote><b>7）Fastenal（快速）</b>-摩根士丹利将这家工业和建筑用品制造商的评级从“同等权重”下调至“跑输大盘”，摩根士丹利指出，客户获取量出现平静，而且该股已接近历史高点。该股盘前下跌2.2%。</blockquote></p><p> <b>8)&nbsp;AstraZeneca(AZN) </b>– AstraZeneca said an experimental monoclonal antibody treatment did not meet its main goal of preventing Covid-19 in patients who had been exposed to the virus. The company also said, however, that its Covid-19 vaccine is 92% effective against the so-called “Delta” variant of the virus.</p><p><blockquote><b>8）阿斯利康（AZN）</b>-阿斯利康表示，一种实验性单克隆抗体治疗方法没有达到其在接触过该病毒的患者中预防Covid-19的主要目标。然而，该公司还表示，其Covid-19疫苗对所谓的“Delta”病毒变种的有效率为92%。</blockquote></p><p> <b>9)&nbsp;Cracker Barrel(CBRL)</b> – Cracker Barrel announced a $275 million private offering of convertible senior notes due in 2026. The restaurant chain will use the proceeds to pay debt and for general corporate purposes.</p><p><blockquote><b>9）裂解桶（CBRL）</b>-Cracker Barrel宣布私募2.75亿美元2026年到期的可转换优先票据。该连锁餐厅将利用所得款项偿还债务和用于一般公司用途。</blockquote></p><p></p><p> <b>10)&nbsp;Novavax(NVAX)</b> – Novavax announced positive results from its first study of its Covid-19 vaccine and a flu vaccine administered simultaneously. The study suggested that simultaneous vaccination may be a viable strategy.</p><p><blockquote><b>10)诺瓦瓦克斯(NVAX)</b>-Novavax宣布其Covid-19疫苗和流感疫苗同时接种的首次研究取得积极结果。该研究表明，同时接种疫苗可能是一种可行的策略。</blockquote></p><p> <b>11)&nbsp;Intuit(INTU)</b> – The financial software company revealed in an SEC filing that its QuickBooks online service saw new customer acquisition grow by more than 25% year-over-year for the nine months ended April 30. Intuit shares had hit an all-time high in Monday’s trading.</p><p><blockquote><b>11）Intuit（INTU）</b>–这家金融软件公司在向SEC提交的文件中透露，截至4月30日的九个月内，其QuickBooks online服务的新客户获取量同比增长超过25%。Intuit股价在周一的交易中创下历史新高。</blockquote></p><p> <b>12)&nbsp;Vimeo(VMEO)</b> – Vimeo reported that total revenue in May rose 42% from a year ago, with the video services company also seeing average revenue per user up 18%.</p><p><blockquote><b>12)Vimeo(VMEO)</b>-Vimeo报告称，5月份总收入同比增长42%，这家视频服务公司的每用户平均收入也增长了18%。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127660571","content_text":"Stock futures edge up ahead of retail sales data.\nS&P 500 index is headed toward its 30th record close of the year, bolstered by gains in tech stocks.\nIncrease in in PPI over past 12 months rises to 6.6% from 6.2%.\nU.S. retail sales minus gas and autos fall 0.8% in May.\nU.S. retail sales minus gas and autos fall 0.8% in May.\n\n(June 15) Producer prices climb 6.6% in May on annual basis, largest 12-month increase on record. Producer prices rose at their fastest annual clip in nearly 11 years in May as inflation continued to build in the U.S. economy, the Labor Department reported Tuesday.\nOn a monthly basis, the producer price index for final demand rose 0.8%, ahead of the Dow Jones estimate of 0.6%.\nStock Market\nU.S. stock futures edged higher Tuesday ahead of fresh data that will indicate how much Americans spent in stores, at restaurants and online last month.\nFutures tied to the S&P 500 ticked up 0.1%, indicating that the broad benchmark index is on track to notch its thirtieth record close of the year. Nasdaq-100 futures gained 0.2%, pointing togains in technology stocksafter the opening bell.\nAt 8:38 a.m. ET, Dow e-minis were up 18 points, or 0.05%, S&P 500 e-minis were up 5.5 points, or 0.13%, and Nasdaq 100 e-minis were up 24.75 points, or 0.18%.\n\nInvestors expect that stocks will climb through the rest of the year due to easy monetary policies. Many people are also betting thathigher inflation, due to the easing of economic restrictions and supply-chain bottlenecks, will be temporary. Signs that inflation will be elevated for a prolonged period or that theFederal Reserve may retrace its supportcould shake that confidence, money managers said.\nStocks making the biggest moves in the premarket: Vroom, Ping Identity, Sage Therapeutics & more\n1) Vroom(VRM) – Vroom intends to offer $500 million in convertible senior notes due in 2026. The used-vehicle e-commerce platform provider plans to use the proceeds for a variety of corporate purposes as well as investing in or acquiring new technologies. Its shares slid 6.1% in premarket trading.\n2) Ping Identity(PING) – Ping Identity announced a 6 million share common stock offering, in a sale of shares held by investment funds affiliated with Vista Equity Partners. The identity management solutions company will not receive any proceeds from the offering. The stock tumbled 4.2% in premarket action.\n3) Sage Therapeutics(SAGE) – The drugmaker’s shares tanked 17.5% in premarket trading following the release of study results for Sage’s experimental depression drug. The treatment resulted in a statistically significant improvement in symptoms, although it could take up to six weeks to be effective and treatment may be required for months.\n4) Boeing(BA) – The U.S. and European Union announced aresolution of the long-standing disputeover aircraft subsidies involving Boeing and European rival Airbus. The deal suspends World Trade Organization-authorized tariffs for five years, and U.S. Trade Representative Katherine Tai said it could serve as a model for resolving future disputes.\n5) Exxon Mobil(XOM) – Bank of America reiterated a “buy” rating on the energy giant’s stock, predicting that Exxon Mobil would hike its dividend before the end of the year following cost-cutting measures and a rebound in oil prices.\n6) Spirit Airlines(SAVE) – Spirit Airlines said in a Securities and Exchange Commission filing that leisure demand has continued to improve throughout the second quarter, and that it has seen operating yields strengthen as well. Citi upgraded the stock to “buy” from “neutral” following that update, and shares rallied 2.6% in the premarket.\n7) Fastenal(FAST) – The maker of industrial and construction supplies was downgraded to “underweight” from “equal-weight” at Morgan Stanley, which notes a lull in customer acquisition as well as a stock that is already near an all-time high. The stock slid 2.2% in the premarket.\n8) AstraZeneca(AZN) – AstraZeneca said an experimental monoclonal antibody treatment did not meet its main goal of preventing Covid-19 in patients who had been exposed to the virus. The company also said, however, that its Covid-19 vaccine is 92% effective against the so-called “Delta” variant of the virus.\n9) Cracker Barrel(CBRL) – Cracker Barrel announced a $275 million private offering of convertible senior notes due in 2026. The restaurant chain will use the proceeds to pay debt and for general corporate purposes.\n10) Novavax(NVAX) – Novavax announced positive results from its first study of its Covid-19 vaccine and a flu vaccine administered simultaneously. The study suggested that simultaneous vaccination may be a viable strategy.\n11) Intuit(INTU) – The financial software company revealed in an SEC filing that its QuickBooks online service saw new customer acquisition grow by more than 25% year-over-year for the nine months ended April 30. Intuit shares had hit an all-time high in Monday’s trading.\n12) Vimeo(VMEO) – Vimeo reported that total revenue in May rose 42% from a year ago, with the video services company also seeing average revenue per user up 18%.","news_type":1,"symbols_score_info":{"SPY":0.9,".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":1982,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185837569,"gmtCreate":1623640436451,"gmtModify":1631890348092,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575346220147121","idStr":"3575346220147121"},"themes":[],"htmlText":"Please like and comment thanks&nbsp;","listText":"Please like and comment thanks&nbsp;","text":"Please like and comment thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/185837569","repostId":"1146430910","repostType":4,"isVote":1,"tweetType":1,"viewCount":2480,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117308346,"gmtCreate":1623115596985,"gmtModify":1631890348094,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575346220147121","idStr":"3575346220147121"},"themes":[],"htmlText":"Pls like and comment thanks&nbsp;","listText":"Pls like and comment thanks&nbsp;","text":"Pls like and comment thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/117308346","repostId":"2141258460","repostType":4,"isVote":1,"tweetType":1,"viewCount":2855,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117301221,"gmtCreate":1623115552563,"gmtModify":1631890348094,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575346220147121","idStr":"3575346220147121"},"themes":[],"htmlText":"Please like and comment&nbsp;","listText":"Please like and comment&nbsp;","text":"Please like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/117301221","repostId":"1144151885","repostType":4,"isVote":1,"tweetType":1,"viewCount":2265,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":112485055,"gmtCreate":1622903055977,"gmtModify":1631890348096,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575346220147121","idStr":"3575346220147121"},"themes":[],"htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/112485055","repostId":"1148130971","repostType":4,"repost":{"id":"1148130971","kind":"news","pubTimestamp":1622866524,"share":"https://www.laohu8.com/m/news/1148130971?lang=zh_CN&edition=full","pubTime":"2021-06-05 12:15","market":"us","language":"en","title":"Can NIO Stock Reach $100? We Think It's A Matter Of 'When' Not 'If'<blockquote>蔚来股价能达到100美元吗？我们认为这是“何时”的问题，而不是“如果”的问题</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1148130971","media":"seekingalpha","summary":"NIO's share price has soared by more than 816% in the past year, peaking at almost $62 in early February before the growth stock sell-off in early March.We believe NIO's share price will soar beyond $160 by 2025 as global EV sales continue to ramp up with autonomous driving becoming a reality.NIO has continuously exhibited characteristics of an unsettling innovator. The brand is widely known for their breakthrough in battery swapping technology, “Power Swap”, which provides NIO owners with a fas","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>NIO's share price has soared by more than 816% in the past year, peaking at almost $62 in early February before the growth stock sell-off in early March.</li>  <li>The company's innovative approach and overseas expansion strategy, combined with the growing market sentiment on global electrification and automation are expected to boost the company's valuation.</li>  <li>We believe NIO's share price will soar beyond $160 by 2025 as global EV sales continue to ramp up with autonomous driving becoming a reality.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b31b2f189fa181e941126674e0b4c0b\" tg-width=\"1536\" tg-height=\"1024\"><span>Photo by Drew Angerer/Getty Images News via Getty Images</span></p><p><blockquote><ul><li>蔚来的股价在过去一年飙升了816%以上，在3月初的成长股抛售之前，在2月初达到了近62美元的峰值。</li><li>该公司的创新方法和海外扩张战略，加上全球电气化和自动化市场情绪日益高涨，预计将提振该公司的估值。</li><li>我们相信，随着自动驾驶成为现实，全球电动汽车销量持续增长，蔚来股价到2025年将飙升至160美元以上。</li></ul><p class=\"t-img-caption\"><span>摄影：Drew Angerer/Getty Images新闻来自Getty Images</span></p></blockquote></p><p> Despite it being a local Chinese electric vehicle (“EV”) brand that has only recently started its overseas expansion into Europe, NIO(NYSE:NIO)has already garnered significant international attention amidst avid investors within the EV sector in recent years. It has only been three short years since NIO made its first deliveries in mid-2018, yet many are already wondering whether its share price can reach similar heights as an industry leader, Tesla’s(NASDAQ:TSLA). Albeit a little farfetched given Tesla is currently trading at more than $600 per share with a market cap of more than $600 billion, we do believe NIO has promising potential to break $100 per share before 2025. Even Wall Street Analysts remain optimistic about the company’s future by assigning a&nbsp;price target of close to $60, which represents upward potential of more than 35% based on the last traded share price of $42.34 (June 1st).</p><p><blockquote>尽管蔚来（纽约证券交易所股票代码：蔚来）是一个中国本土电动汽车（“EV”）品牌，最近才开始向欧洲进行海外扩张，但近年来已经在电动汽车行业狂热投资者中获得了广泛的国际关注。距离蔚来于2018年中期首次交付仅过去了短短三年，但许多人已经想知道其股价是否能达到与行业领导者特斯拉（纳斯达克股票代码：TSLA）类似的高度。尽管考虑到特斯拉目前的股价超过每股600美元，市值超过6000亿美元，这有点牵强，但我们确实相信蔚来有潜力在2025年之前突破每股100美元。就连华尔街分析师也对该公司的未来保持乐观，他们将目标价定为接近60美元，根据上次交易股价42.34美元（6月1日）计算，该目标价有超过35%的上涨潜力。</blockquote></p><p> Founded in 2014, NIO has sold and delivered more than 100,000 vehicles in China to date. The company boasts a fleet of five emission-free, fully battery-powered models, ranging from sports cars to luxury sedans and full-size SUVs. In addition to their vehicles, NIO is also known for their significant progress achieved in innovative technology, including state-of-the-art battery solutions, artificial intelligence, and autonomous driving. The company has also recently turned their global expansion plans into reality, with the first overseas NIO store to open in Oslo, Norway in Q3 2021. We believe that reaching a share price of $100 is no longer a question of “if”, but instead, “when”.</p><p><blockquote>蔚来成立于2014年，迄今在华销售和交付汽车已超过10万辆。该公司拥有一支由五款零排放、全电池驱动的车型组成的车队，从跑车到豪华轿车和全尺寸SUV。除了汽车之外，蔚来还因其在创新技术方面取得的重大进展而闻名，包括最先进的电池解决方案、人工智能和自动驾驶。该公司最近还将他们的全球扩张计划变成了现实，第一家海外蔚来商店将于2021年第三季度在挪威奥斯陆开业。我们认为，股价达到100美元不再是“如果”的问题，而是“何时”的问题。</blockquote></p><p> <b>A Trailblazer in Innovative Technology</b></p><p><blockquote><b>创新技术的开拓者</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/16d9fd877602d5604bc3a69593badfdf\" tg-width=\"640\" tg-height=\"262\"><span>Source:ir.nio.com</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：ir.nio.com</span></p></blockquote></p><p> NIO has continuously exhibited characteristics of an unsettling innovator. The brand is widely known for their breakthrough in battery swapping technology, “Power Swap”, which provides NIO owners with a fast and convenient solution to concerns over the typically limited travel range of EVs. Similar to a gas station, Power Swap is a battery swapping station that can swap a dead battery out for a fully charged one in under three minutes; a fully charged battery enables a NIO vehicle to travel up to 435 miles, which is more than double of the&nbsp;181-mile average travel range of electric vehicles&nbsp;currently available on the market. NIO owners have the option to subscribe to the“Battery as a Service” (“BaaS”)package, which is a monthly subscription service that provides NIO owners with flexible options for battery upgrades based on personal needs. The company currently offers a standard 75 kWh battery which enables a travel range of up to 310 miles on a full charge, and an enhanced 100 kWh battery which enables a travel range of up to 435 miles on a full charge; both are available for NIO owners to choose from on a month-to-month basis under BaaS. To date, there are&nbsp;more than 226 battery swapping stations&nbsp;across China, with more on the way following a recent&nbsp;strategic partnership agreement&nbsp;between NIO and Sinopec. NIO’s vehicles are also compatible with local competitor XPeng’s(NYSE:XPEV)1,140 vehicle charging stations available across 164 cities in China, which further enhances its existing network of charging infrastructure in place for NIO owners.</p><p><blockquote>蔚来一直表现出令人不安的创新者的特征。该品牌因其在电池交换技术“Power Swap”方面的突破而广为人知，该技术为蔚来车主提供了一种快速便捷的解决方案，以解决电动汽车行驶里程通常有限的问题。与加油站类似，换电是一个电池交换站，可以在三分钟内将没电的电池换成充满电的电池；充满电的电池使蔚来汽车能够行驶435英里，是目前市场上电动汽车平均行驶里程181英里的两倍多。蔚来车主可以选择订阅“电池即服务”（“BaaS”）套餐，这是一项按月订阅的服务，为蔚来车主根据个人需求提供电池升级的灵活选择。该公司目前提供标准75 kWh电池，充满电后续航里程可达310英里，增强型100 kWh电池，充满电后续航里程可达435英里；两者都可供蔚来车主在BaaS下按月选择。迄今为止，全国已有超过226个电池交换站，继蔚来与中石化最近达成战略合作协议后，更多的电池交换站正在建设中。蔚来的车辆还与当地竞争对手小鹏汽车（纽约证券交易所股票代码：XPEV）在中国164个城市提供的1,140个汽车充电站兼容，这进一步增强了其为蔚来车主提供的现有充电基础设施网络。</blockquote></p><p> In addition to the developed network of infrastructure needed to sustain NIO EVs in the long run, the company has also been working diligently on perfecting their autonomous driving and AI technology in order to remain competitive in the broader EV and tech space. NIO has already been performing testing on its autonomous driving systems since 2016, with their first testing on public roads in Beijing performed in 2018. The company’s commitment to the future of passenger transportation is also proven through their development of&nbsp;EVE, the brand’s concept car for autonomous driving which encompasses a luxurious, comfortable and safe experience powered by NIO’s&nbsp;NOMI AI, the world’s first in-vehicle artificial intelligence.</p><p><blockquote>除了长期维持蔚来电动汽车所需的发达基础设施网络外，该公司还一直在努力完善其自动驾驶和人工智能技术，以在更广泛的电动汽车和技术领域保持竞争力。自2016年以来，蔚来一直在对其自动驾驶系统进行测试，并于2018年在北京的公共道路上进行了首次测试。该公司对未来客运的承诺也通过EVE的开发得到了证明，EVE是该品牌的自动驾驶概念车，由蔚来的NOMI AI（世界上第一个车载人工智能）提供豪华、舒适和安全的体验。</blockquote></p><p></p><p> To further enhance their progress in autonomous driving technology, NIO has recently&nbsp;partnered with Mobileye&nbsp;– an Intel-owned(NASDAQ:INTC)company known for developing the “EyeQ chip” currently used by more than 27 car manufacturers for their assisted-driving technologies – to develop and commercialize driving automation that does not require human interaction (i.e. “level 4” autonomous driving). Their collaboration is expected to accelerate NIO’s launch of the “Autonomous Driving as a Service” (“ADaaS”) package, which is a monthly subscription for their autonomous driving technology, “NIO Autonomous Driving” (“NAD”). However, similar to Tesla’s “Full Self-Driving” package, the NAD technology that is expected to launch in 2022 does not yet make NIO vehicles capable of driving without human intervention, but it does catapult NIO to a comparable spot with industry leader Tesla in the race towards level 4 autonomous driving. NIO owners will have the option to subscribe to ADaaS for a monthly subscription fee of RMB 680. With more than 102,000 NIO vehicles on the road today, the new subscription package is expected to generate incremental annual sales of RMB 840 million ($132 million); the additional revenue stream is valued at approximately RMB 10 billion ($1.6 billion) upon the service’s inception, assuming an average vehicle life of 12 years with most existing NIO owners signing up.</p><p><blockquote>为了进一步推动自动驾驶技术的进步，蔚来最近与Mobileye合作，Mobileye是一家英特尔旗下（纳斯达克股票代码：INTC）公司，以开发“EyeQ芯片”而闻名，目前已被超过27家汽车制造商用于其辅助驾驶技术——开发和商业化不需要人机交互的驾驶自动化（即“4级”自动驾驶）。他们的合作预计将加速蔚来推出“自动驾驶即服务”（“ADaaS”）套餐，这是他们的自动驾驶技术“蔚来自动驾驶”（“NAD”）的每月订阅。然而，与特斯拉的“全自动驾驶”套件类似，预计将于2022年推出的NAD技术尚未使蔚来汽车能够在没有人工干预的情况下驾驶，但它确实使蔚来在通往4级自动驾驶的竞赛中与行业领导者特斯拉相提并论。蔚来车主将可以选择订阅ADaaS，每月订阅费为人民币680元。如今上路的蔚来汽车超过10.2万辆，新的订阅套餐预计将产生8.4亿元人民币（1.32亿美元）的年销售额增量；假设大多数现有蔚来车主注册的平均车辆寿命为12年，该服务推出后的额外收入流价值约为100亿元人民币（16亿美元）。</blockquote></p><p> NIO’s continuous developments in autonomous driving technology are expected to benefit the company and its shareholders greatly in the near future. By 2025, the global autonomous cars market will become one of the fastest growing and most highly demanded segments with an&nbsp;estimated value of $1.6 trillion. A 6% share of this market would add a valuation of at least $100 billion to NIO’s existing $67 billion market cap, boosting its per unit share value to more than $100. Considering NIO is currently one of the very few fully electric automakers to have achieved tangible results within the autonomous driving scene, and is actively growing its overseas sales, we are confident that the company is capable of capturing more than 6% of the said market share, and achieve a per unit share price of more than $100 by 2025 with ease. Combined with the global shift in consumer preference towards electrification and automation, we are projecting vehicle sales of approximately 300,000 units by FY 2025, which will yield total revenues of approximately RMB 140 billion ($22 billion).</p><p><blockquote>蔚来在自动驾驶技术方面的不断发展预计将在不久的将来使公司及其股东受益匪浅。到2025年，全球自动驾驶汽车市场将成为增长最快、需求最大的细分市场之一，估计价值为1.6万亿美元。该市场6%的份额将为蔚来现有670亿美元的市值增加至少1000亿美元的估值，使其每股价值超过100美元。考虑到蔚来是目前极少数在自动驾驶领域取得切实成果的全电动汽车制造商之一，并且正在积极增长其海外销量，我们有信心该公司有能力占据上述市场6%以上的份额，并轻松实现到2025年每股股价超过100美元。结合全球消费者偏好向电气化和自动化的转变，我们预计到2025财年汽车销量约为30万辆，总收入约为1400亿元人民币（220亿美元）。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b6c800a04e6df92802f6893d214eecdd\" tg-width=\"640\" tg-height=\"213\"><span>Source: Author, with data from our internal forecasts (NIO_-_Forecasted_Financial_Information.pdf).</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者，数据来自我们的内部预测（蔚来_-_Forecasted_Financial_Information.pdf）。</span></p></blockquote></p><p> <b>Global Expansion</b></p><p><blockquote><b>全球扩张</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/537449f8f7ee9c736b48c1776cbb7259\" tg-width=\"640\" tg-height=\"249\"><span>Source: ir.nio.com</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：ir.nio.com</span></p></blockquote></p><p> Another catalyst that will propel NIO’s share price beyond $100 is their ongoing overseas expansion efforts. NIO has been transparent about their intentions to expand globally, especially in the U.S. and Europe, as part of their plans in becoming an industry leader. NIO will be opening its first&nbsp;overseas sales and service centre in Oslo, Norway&nbsp;in September. The brand’s footprint in Norway will further expand in 2022 with four more NIO stores to open in Bergen, Stavanger, Trondheim and Kristiansand. In addition to its direct sales and service centres, NIO will also be introducing a full charging map for Europe, starting with four NIO Power Swap stations in Norway to provide new NIO owners with the convenience and range that the brand builds its success on. NIO’s flagship SUV, the&nbsp;ES8, which currently retails at a&nbsp;starting price of approximately US$67,000, will be the first model introduced in the European market, with the brand’s newest full-size sedan, the&nbsp;ET7, to follow in 2022.</p><p><blockquote>推动蔚来股价突破100美元的另一个催化剂是他们正在进行的海外扩张努力。蔚来一直公开表示其全球扩张的意图，特别是在美国和欧洲，作为其成为行业领导者计划的一部分。蔚来将于9月在挪威奥斯陆开设首个海外销售及服务中心。该品牌在挪威的足迹将于2022年进一步扩大，将在Bergen、Stavanger、Trondheim和Kristiansand开设四家蔚来商店。除了直销和服务中心外，蔚来还将在欧洲推出完整的充电地图，首先是在挪威的四个蔚来换电站，为新蔚来车主提供该品牌赖以成功的便利和续航里程。蔚来的旗舰SUV ES 8目前零售价约为67,000美元，将是首款引入欧洲市场的车型，该品牌最新的全尺寸轿车ET 7将于2022年紧随其后。</blockquote></p><p> With a proven sales track record in China’s luxury EV market, and specs comparable to the globally recognized Tesla, there is no reason for NIO to not succeed overseas. As mentioned in earlier sections, NIO’s vehicles have a driving range of up to 435 miles on a full charge, making it a desirable choice for potential European and American car owners looking for a reliable companion to accompany them on daily commutes to long road trips. The NIO exterior and interior designs are also modern, luxurious, and comparable to those preferred by the European and North American population. Combined with a diverse product line and price range, NIO is equipped to take on the increasing demands for EVs on a global scale.</p><p><blockquote>凭借在中国豪华电动汽车市场的良好销售记录，以及与全球公认的特斯拉相当的规格，蔚来没有理由不在海外取得成功。正如前面提到的，蔚来的车辆充满电后的行驶里程可达435英里，这使得它成为潜在的欧美车主的理想选择，他们正在寻找一个可靠的伴侣来陪伴他们进行日常通勤和长途旅行。蔚来的外观和内饰设计也是现代、豪华的，可与欧洲和北美人口的首选相媲美。结合多样化的产品线和价格范围，蔚来有能力满足全球范围内对电动汽车不断增长的需求。</blockquote></p><p> <b>NIO’s Historical Performance</b></p><p><blockquote><b>蔚来的历史表现</b></blockquote></p><p></p><p> Just a little more than a year ago, NIO’s share price hit an all-time low at under $2 amidst liquidity troubles despite continued vehicle sales. In mid-2020, the municipal government of Hefei, China came to NIO’s rescue with a&nbsp;capital injection of RMB 7 billion&nbsp;(approximately $1 billion). The arrangement resulted in the creation of “NIO China”, which serves as the operating entity that holds all of NIO’s core businesses and assets; NIO currently holds a 90.36% ownership interest in NIO China, while the “Hefei Strategic Investors” consortium holds the remainder 9.64%. The partnership became the company’s lifeline; the additional capital brought forth significant improvements to the company’s operations and vehicle sales, which were reflected in their strong financial performance and upward trend in share price in the summer of 2020. By the end of 2020’s second quarter, NIO’s share price rebounded by almost 20% on average after posting a 171% quarter-over-quarter increase in total revenues. The company’s share price more than tripled in 2020’s third quarter, averaging $15.40, and continued to climb towards its fourth quarter average of $38.70. By the end of the latest quarter ended March 31st, 2021, NIO’s share price averaged $50.97, and peaked at almost $62 in February which is more than 10x its&nbsp;IPO price in 2018. The company holds a market cap of more than $67 billion today, outgrowing its mere $1 billion market cap when it made its debut on the NYSE.</p><p><blockquote>就在一年多前，尽管汽车销量持续增长，但由于流动性问题，蔚来股价跌至2美元以下的历史低点。2020年年中，中国合肥市政府向蔚来注资70亿元人民币（约合10亿美元）。该安排导致创建了“蔚来中国”，作为持有蔚来所有核心业务和资产的运营实体；蔚来目前持有蔚来90.36%的所有权权益，而“合肥战略投资者”联合体持有馀下9.64%。这种合作关系成为了公司的生命线；额外资本为公司的运营和汽车销售带来了显着改善，这反映在其强劲的财务业绩和2020年夏季股价的上涨趋势上。截至2020年第二季度末，蔚来总收入环比增长171%，股价平均反弹近20%。该公司股价在2020年第三季度上涨了两倍多，平均为15.40美元，并继续攀升至第四季度平均38.70美元。截至2021年3月31日的最新季度末，蔚来的平均股价为50.97美元，并在2月份达到近62美元的峰值，是2018年IPO价格的10倍多。该公司目前的市值超过670亿美元，超过了其在纽约证券交易所上市时仅10亿美元的市值。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75a1d7edb18c1762028ba54f617e1982\" tg-width=\"640\" tg-height=\"250\"><span>Source: Author, with data from ir.nio.com</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者，数据来自ir.nio.com</span></p></blockquote></p><p> NIO’s fundamentals have also shown nothing but steady improvements since its share price peaked earlier this year before the&nbsp;growth stock sell-off in late February. Deliveries in 2021 have continued to accelerate exponentially, with first quarter deliveries of more than 20,000 vehicles, representing almost 50% of total deliveries made in 2020. The company continues to exhibit a promising outlook with more than 7,100 vehicles delivered in April, representing an increase of more than 125% year-over-year. NIO has also maintained positive cash flows from operating activities for the first quarter of 2021, thanks to the higher deliveries and effective cost-management measures which have amped up their gross profit margin to 19.5%, comparable with industry leaders like Tesla whose first quarter gross margins were 21%. As aforementioned, we are forecasting vehicle sales of close to 300,000 units by FY 2025, which translates to approximately RMB 140 billion ($22 billion) in total revenues ($18.60 per share). Our vehicle sales forecast for FY 2025 is further corroborated by the&nbsp;recently renewed manufacturing agreement&nbsp;with joint venturer “Jianghuai Automobile Group” (“JAC”), which increases the current annual production capacity of 100,000 units to 240,000 units; the ongoing construction of “NeoPark” in Hefei, China is also expected to add annual production capacity of 1 million units, which further supports our positive outlook on NIO’s continued commitment to grow its business. Considering industry peer Tesla’s current P/S ratio of 16.43x with approximately $42 billion in annual revenues (annualization of $10.389 billion in first quarter revenues), the same proportion applied to NIO’s forecasted FY 2025 total revenues is expected to yield a P/S ratio of 8.7x, resulting in a share price of more than $160.</p><p><blockquote>自今年早些时候股价在2月底成长型股票遭到抛售之前见顶以来，蔚来的基本面也只显示出稳步改善。2021年的交付量继续呈指数级增长，第一季度交付量超过20,000辆，几乎占2020年总交付量的50%。该公司继续展现出乐观的前景，4月份交付了超过7,100辆汽车，同比增长超过125%。得益于更高的交付量和有效的成本管理措施，蔚来在2021年第一季度的经营活动中也保持了正现金流，这些措施将其毛利率提高至19.5%，与特斯拉等行业领导者的毛利率相当。第一季度毛利率为21%。如上所述，我们预计到2025财年汽车销量将接近30万辆，这意味着总收入约为1400亿元人民币（220亿美元）（每股18.60美元）。我们最近与合资企业“江淮汽车集团”（“江淮汽车”）续签的制造协议进一步证实了我们对2025财年的汽车销售预测，该协议将目前100,000辆的年产能提高到240,000辆；正在建设中的“NeoPark”亦预期将新增100万台的年产能，这进一步支持了我们对蔚来继续致力于发展其业务的积极展望。考虑到行业同行特斯拉目前的市盈率为16.43倍，年收入约为420亿美元（第一季度收入年化为103.89亿美元），将相同比例应用于蔚来预测的2025财年总收入预计将产生市盈率8.7倍，股价超过160美元。</blockquote></p><p> <b>NIO vs. LI and XPEV</b></p><p><blockquote><b>蔚来vs.LI和XPEV</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/af8fa939f92be448d1f427a6ac4bfb25\" tg-width=\"640\" tg-height=\"352\"><span>Source: Finviz</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Finviz</span></p></blockquote></p><p> We have also compared NIO’s current P/S ratio to its domestic peers to gauge the timeline in which NIO’s share price will exceed $100. NIO currently trades at a P/S ratio of approximately 14.88x, while domestic industry peers, Li Auto(NASDAQ:LI)and XPEV, currently trade at a P/S ratio of 14.46x and 21.31x, respectively.</p><p><blockquote>我们还将蔚来目前的市盈率与其国内同行进行了比较，以衡量蔚来股价突破100美元的时间表。蔚来目前的市盈率约为14.88倍，而国内行业同行理想汽车（纳斯达克：LI）和XPEV目前的市盈率分别为14.46倍和21.31倍。</blockquote></p><p></p><p> Considering NIO’s technology, revenues, global footprint, and cash flows are stronger than LI’s and XPEV’s, the former deserves to be traded at a much higher multiple than the latter two. Even if NIO reaches a P/S ratio of 18.1x (mid-point to XPEV's), it will drive the company’s current share price up to $51.50, which represents an upside potential of 22% based on the last traded share price of $42.34 (June 1st). And based on our forecasted revenues for FY 2025 for NIO of RMB 140 billion ($22 billion), or $18.60 per share, even a multiple half of the 18.1x would be more than sufficient to bring NIO's share price beyond $160 by 2025; we believe the trading multiple is achievable for NIO given the cash from operations and technological advancements achieved by then would place them on a trajectory of continued long-term growth within the EV industry, which is expected to continue into 2030 and beyond when the brand's level 4 autonomous driving technology development is complete and commercialized.</p><p><blockquote>考虑到蔚来的技术、收入、全球足迹和现金流都强于LI和XPEV，前者的市盈率应该远高于后两者。即使蔚来的市盈率达到18.1倍（XPEV的中点），也将推动该公司当前股价上涨至51.50美元，基于上次交易股价42.34美元（6月1日），这意味着22%的上涨潜力。根据我们对蔚来2025财年收入1400亿元人民币（220亿美元）或每股18.60美元的预测，即使是18.1倍的一半也足以使蔚来的股价在2025年突破160美元；我们认为，蔚来的交易倍数是可以实现的，因为届时从运营中获得的现金和技术进步将使其走上电动汽车行业持续长期增长的轨道，预计这种增长将持续到2030年及以后，届时该品牌的4级自动驾驶技术开发完成并商业化。</blockquote></p><p> <b>Business Risks and Challenges</b></p><p><blockquote><b>业务风险及挑战</b></blockquote></p><p> As mentioned in one of my&nbsp;previous articles on NIO, the “Holding Foreign Companies Accountable Act” (“HFCA Act”) remains one of the most significant impending threats to the company’s share price. Currently, public accounting firms in China are non-compliant with PCAOB inspection rules required by the SEC, and the enactment of the HFCA Act in December 2020 requires that these public accounting firms comply with PCAOB inspection requests within three years of the enactment date; otherwise, all public companies audited by said firms will be subject to risks of de-listing. NIO is currently audited by PricewaterhouseCoopers Zhong Tian LLP, which is on PCAOB’s&nbsp;denied-access list. The potential threat of being delisted from the NYSE could be a deterrence factor to investors and ultimately hemorrhage NIO’s share price in the long run if Chinese authorities and the PCAOB cannot reach an agreement on conducting inspections soon.</p><p><blockquote>正如我在之前关于蔚来的一篇文章中提到的，《外国公司问责法》（“HFCA法案”）仍然是公司股价面临的最重大威胁之一。目前，中国的公共会计师事务所不符合SEC要求的PCAOB检查规则，2020年12月HFCA法案的颁布要求这些公共会计师事务所在颁布之日起三年内遵守PCAOB的检查要求；否则，上述事务所审计的所有上市公司都将面临退市风险。蔚来目前由普华永道中天会计师事务所（LLP）进行审计，该事务所被列入PCAOB的拒绝访问名单。如果中国当局和PCAOB不能很快就进行检查达成协议，从纽约证券交易所退市的潜在威胁可能会成为投资者的威慑因素，并最终导致蔚来股价长期下跌。</blockquote></p><p> Another imminent challenge to NIO’s business is the ongoing global chip supply shortage. As the automotive industry becomes more dependent on chips to manage every function of their vehicles, the gap between automaker demands and chip manufacturer supplies is widened. NIO was no exception to the impacts of the ongoing chip supply crisis – in March 2021, NIO halted their production activity at the JAC-NIO manufacturing plant for five working days in order to adjust their production levels. However, the company continues to effectively navigate through the situation as proven through their increasing number of deliveries month-over-month; in NIO’s latest delivery update press release for April, the company has continued to keep up with market demand with more than 7,100 vehicle deliveries made, representing a 125% year-over-year growth.</p><p><blockquote>蔚来业务面临的另一个迫在眉睫的挑战是持续的全球芯片供应短缺。随着汽车行业越来越依赖芯片来管理车辆的每一项功能，汽车制造商的需求和芯片制造商的供应之间的差距越来越大。蔚来也不例外地受到持续的芯片供应危机的影响——2021年3月，蔚来停止了江淮蔚来制造工厂的生产活动五个工作日，以调整生产水平。然而，该公司继续有效地应对这种情况，交付量逐月增加就证明了这一点；在蔚来4月份最新的交付更新新闻稿中，该公司继续满足市场需求，交付了超过7,100辆汽车，同比增长125%。</blockquote></p><p> Competition within the EV sector has also ramped up in recent years. Consumer attitude towards EVs has changed drastically in the past decade due to rising concerns over climate change met with price parity between traditional petrol-fueled vehicles and EVs. The entry barrier for emerging EV makers has also lowered significantly as car battery solutions become more accessible through third-party OEMs; new entrants are now keener on participating in the profitable opportunity within the growing EV sector as initial investments become more reasonable than it was for Tesla in 2003 when EVs were still just a concept to many. In addition to new entrants, traditional petrol-fueled automakers like Ford(NYSE:F)have also started to incorporate fully battery-powered vehicles into their fleet in order to meet evolving consumer demands and remain competitive within the automotive industry. However, we believe NIO possesses the brand, customer experience, production strategy, talent and business model (further analyzedhere) needed to remain successful within the new competitive landscape in the long run.</p><p><blockquote>近年来，电动汽车行业的竞争也愈演愈烈。在过去十年中，由于对气候变化的日益担忧以及传统汽油燃料汽车和电动汽车之间的价格平价，消费者对电动汽车的态度发生了巨大变化。随着第三方原始设备制造商更容易获得汽车电池解决方案，新兴电动汽车制造商的进入门槛也大幅降低；随着初始投资变得比2003年特斯拉更加合理，新进入者现在更热衷于参与不断增长的电动汽车行业的盈利机会，当时电动汽车对许多人来说仍然只是一个概念。除了新进入者之外，福特（纽约证券交易所股票代码：F）等传统汽油燃料汽车制造商也开始将全电池驱动的汽车纳入其车队，以满足不断变化的消费者需求并保持在汽车行业内的竞争力。然而，我们相信蔚来拥有在新的竞争格局中长期保持成功所需的品牌、客户体验、生产战略、人才和商业模式（此处进一步分析）。</blockquote></p><p> <b>Conclusion</b></p><p><blockquote><b>结论</b></blockquote></p><p> NIO has already established a strong brand presence within the domestic Chinese market, which is currently one of the fastest growing EV markets, representing more than 40% of global EV sales in 2020. Combined with their proven ability to produce quality EVs, construct innovative charging infrastructure, achieve breakthrough progress in the development of autonomous driving technology, and execute their overseas expansion strategy, NIO is effectively narrowing the gap between them and Tesla within the EV sector on a global scale. We are confident that the next five years will be a transformational era for the EV and tech company due to increasing demands for electrification and automation within the automotive industry, which NIO has already proven to excel in. The value of its continued achievements will be reflected in its share price in no time, making them a worthy stock pick for those looking to profit off of the impending age of green transition and automation.</p><p><blockquote>蔚来已经在中国国内市场建立了强大的品牌影响力，中国国内市场是目前增长最快的电动汽车市场之一，2020年占全球电动汽车销量的40%以上。结合其生产优质电动汽车、建设创新充电基础设施、在自动驾驶技术开发方面取得突破性进展以及执行海外扩张战略的能力，蔚来正在有效缩小与特斯拉在全球电动汽车领域的差距。我们相信，由于汽车行业对电气化和自动化的需求不断增长，未来五年将是电动汽车和科技公司的转型时代，蔚来已经证明在这方面表现出色。其持续成就的价值将很快反映在其股价中，对于那些希望从即将到来的绿色转型和自动化时代中获利的人来说，这使其成为值得选择的股票。</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>Can NIO Stock Reach $100? We Think It's A Matter Of 'When' Not 'If'<blockquote>蔚来股价能达到100美元吗？我们认为这是“何时”的问题，而不是“如果”的问题</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\">\nCan NIO Stock Reach $100? We Think It's A Matter Of 'When' Not 'If'<blockquote>蔚来股价能达到100美元吗？我们认为这是“何时”的问题，而不是“如果”的问题</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-05 12:15</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>NIO's share price has soared by more than 816% in the past year, peaking at almost $62 in early February before the growth stock sell-off in early March.</li>  <li>The company's innovative approach and overseas expansion strategy, combined with the growing market sentiment on global electrification and automation are expected to boost the company's valuation.</li>  <li>We believe NIO's share price will soar beyond $160 by 2025 as global EV sales continue to ramp up with autonomous driving becoming a reality.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b31b2f189fa181e941126674e0b4c0b\" tg-width=\"1536\" tg-height=\"1024\"><span>Photo by Drew Angerer/Getty Images News via Getty Images</span></p><p><blockquote><ul><li>蔚来的股价在过去一年飙升了816%以上，在3月初的成长股抛售之前，在2月初达到了近62美元的峰值。</li><li>该公司的创新方法和海外扩张战略，加上全球电气化和自动化市场情绪日益高涨，预计将提振该公司的估值。</li><li>我们相信，随着自动驾驶成为现实，全球电动汽车销量持续增长，蔚来股价到2025年将飙升至160美元以上。</li></ul><p class=\"t-img-caption\"><span>摄影：Drew Angerer/Getty Images新闻来自Getty Images</span></p></blockquote></p><p> Despite it being a local Chinese electric vehicle (“EV”) brand that has only recently started its overseas expansion into Europe, NIO(NYSE:NIO)has already garnered significant international attention amidst avid investors within the EV sector in recent years. It has only been three short years since NIO made its first deliveries in mid-2018, yet many are already wondering whether its share price can reach similar heights as an industry leader, Tesla’s(NASDAQ:TSLA). Albeit a little farfetched given Tesla is currently trading at more than $600 per share with a market cap of more than $600 billion, we do believe NIO has promising potential to break $100 per share before 2025. Even Wall Street Analysts remain optimistic about the company’s future by assigning a&nbsp;price target of close to $60, which represents upward potential of more than 35% based on the last traded share price of $42.34 (June 1st).</p><p><blockquote>尽管蔚来（纽约证券交易所股票代码：蔚来）是一个中国本土电动汽车（“EV”）品牌，最近才开始向欧洲进行海外扩张，但近年来已经在电动汽车行业狂热投资者中获得了广泛的国际关注。距离蔚来于2018年中期首次交付仅过去了短短三年，但许多人已经想知道其股价是否能达到与行业领导者特斯拉（纳斯达克股票代码：TSLA）类似的高度。尽管考虑到特斯拉目前的股价超过每股600美元，市值超过6000亿美元，这有点牵强，但我们确实相信蔚来有潜力在2025年之前突破每股100美元。就连华尔街分析师也对该公司的未来保持乐观，他们将目标价定为接近60美元，根据上次交易股价42.34美元（6月1日）计算，该目标价有超过35%的上涨潜力。</blockquote></p><p> Founded in 2014, NIO has sold and delivered more than 100,000 vehicles in China to date. The company boasts a fleet of five emission-free, fully battery-powered models, ranging from sports cars to luxury sedans and full-size SUVs. In addition to their vehicles, NIO is also known for their significant progress achieved in innovative technology, including state-of-the-art battery solutions, artificial intelligence, and autonomous driving. The company has also recently turned their global expansion plans into reality, with the first overseas NIO store to open in Oslo, Norway in Q3 2021. We believe that reaching a share price of $100 is no longer a question of “if”, but instead, “when”.</p><p><blockquote>蔚来成立于2014年，迄今在华销售和交付汽车已超过10万辆。该公司拥有一支由五款零排放、全电池驱动的车型组成的车队，从跑车到豪华轿车和全尺寸SUV。除了汽车之外，蔚来还因其在创新技术方面取得的重大进展而闻名，包括最先进的电池解决方案、人工智能和自动驾驶。该公司最近还将他们的全球扩张计划变成了现实，第一家海外蔚来商店将于2021年第三季度在挪威奥斯陆开业。我们认为，股价达到100美元不再是“如果”的问题，而是“何时”的问题。</blockquote></p><p> <b>A Trailblazer in Innovative Technology</b></p><p><blockquote><b>创新技术的开拓者</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/16d9fd877602d5604bc3a69593badfdf\" tg-width=\"640\" tg-height=\"262\"><span>Source:ir.nio.com</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：ir.nio.com</span></p></blockquote></p><p> NIO has continuously exhibited characteristics of an unsettling innovator. The brand is widely known for their breakthrough in battery swapping technology, “Power Swap”, which provides NIO owners with a fast and convenient solution to concerns over the typically limited travel range of EVs. Similar to a gas station, Power Swap is a battery swapping station that can swap a dead battery out for a fully charged one in under three minutes; a fully charged battery enables a NIO vehicle to travel up to 435 miles, which is more than double of the&nbsp;181-mile average travel range of electric vehicles&nbsp;currently available on the market. NIO owners have the option to subscribe to the“Battery as a Service” (“BaaS”)package, which is a monthly subscription service that provides NIO owners with flexible options for battery upgrades based on personal needs. The company currently offers a standard 75 kWh battery which enables a travel range of up to 310 miles on a full charge, and an enhanced 100 kWh battery which enables a travel range of up to 435 miles on a full charge; both are available for NIO owners to choose from on a month-to-month basis under BaaS. To date, there are&nbsp;more than 226 battery swapping stations&nbsp;across China, with more on the way following a recent&nbsp;strategic partnership agreement&nbsp;between NIO and Sinopec. NIO’s vehicles are also compatible with local competitor XPeng’s(NYSE:XPEV)1,140 vehicle charging stations available across 164 cities in China, which further enhances its existing network of charging infrastructure in place for NIO owners.</p><p><blockquote>蔚来一直表现出令人不安的创新者的特征。该品牌因其在电池交换技术“Power Swap”方面的突破而广为人知，该技术为蔚来车主提供了一种快速便捷的解决方案，以解决电动汽车行驶里程通常有限的问题。与加油站类似，换电是一个电池交换站，可以在三分钟内将没电的电池换成充满电的电池；充满电的电池使蔚来汽车能够行驶435英里，是目前市场上电动汽车平均行驶里程181英里的两倍多。蔚来车主可以选择订阅“电池即服务”（“BaaS”）套餐，这是一项按月订阅的服务，为蔚来车主根据个人需求提供电池升级的灵活选择。该公司目前提供标准75 kWh电池，充满电后续航里程可达310英里，增强型100 kWh电池，充满电后续航里程可达435英里；两者都可供蔚来车主在BaaS下按月选择。迄今为止，全国已有超过226个电池交换站，继蔚来与中石化最近达成战略合作协议后，更多的电池交换站正在建设中。蔚来的车辆还与当地竞争对手小鹏汽车（纽约证券交易所股票代码：XPEV）在中国164个城市提供的1,140个汽车充电站兼容，这进一步增强了其为蔚来车主提供的现有充电基础设施网络。</blockquote></p><p> In addition to the developed network of infrastructure needed to sustain NIO EVs in the long run, the company has also been working diligently on perfecting their autonomous driving and AI technology in order to remain competitive in the broader EV and tech space. NIO has already been performing testing on its autonomous driving systems since 2016, with their first testing on public roads in Beijing performed in 2018. The company’s commitment to the future of passenger transportation is also proven through their development of&nbsp;EVE, the brand’s concept car for autonomous driving which encompasses a luxurious, comfortable and safe experience powered by NIO’s&nbsp;NOMI AI, the world’s first in-vehicle artificial intelligence.</p><p><blockquote>除了长期维持蔚来电动汽车所需的发达基础设施网络外，该公司还一直在努力完善其自动驾驶和人工智能技术，以在更广泛的电动汽车和技术领域保持竞争力。自2016年以来，蔚来一直在对其自动驾驶系统进行测试，并于2018年在北京的公共道路上进行了首次测试。该公司对未来客运的承诺也通过EVE的开发得到了证明，EVE是该品牌的自动驾驶概念车，由蔚来的NOMI AI（世界上第一个车载人工智能）提供豪华、舒适和安全的体验。</blockquote></p><p></p><p> To further enhance their progress in autonomous driving technology, NIO has recently&nbsp;partnered with Mobileye&nbsp;– an Intel-owned(NASDAQ:INTC)company known for developing the “EyeQ chip” currently used by more than 27 car manufacturers for their assisted-driving technologies – to develop and commercialize driving automation that does not require human interaction (i.e. “level 4” autonomous driving). Their collaboration is expected to accelerate NIO’s launch of the “Autonomous Driving as a Service” (“ADaaS”) package, which is a monthly subscription for their autonomous driving technology, “NIO Autonomous Driving” (“NAD”). However, similar to Tesla’s “Full Self-Driving” package, the NAD technology that is expected to launch in 2022 does not yet make NIO vehicles capable of driving without human intervention, but it does catapult NIO to a comparable spot with industry leader Tesla in the race towards level 4 autonomous driving. NIO owners will have the option to subscribe to ADaaS for a monthly subscription fee of RMB 680. With more than 102,000 NIO vehicles on the road today, the new subscription package is expected to generate incremental annual sales of RMB 840 million ($132 million); the additional revenue stream is valued at approximately RMB 10 billion ($1.6 billion) upon the service’s inception, assuming an average vehicle life of 12 years with most existing NIO owners signing up.</p><p><blockquote>为了进一步推动自动驾驶技术的进步，蔚来最近与Mobileye合作，Mobileye是一家英特尔旗下（纳斯达克股票代码：INTC）公司，以开发“EyeQ芯片”而闻名，目前已被超过27家汽车制造商用于其辅助驾驶技术——开发和商业化不需要人机交互的驾驶自动化（即“4级”自动驾驶）。他们的合作预计将加速蔚来推出“自动驾驶即服务”（“ADaaS”）套餐，这是他们的自动驾驶技术“蔚来自动驾驶”（“NAD”）的每月订阅。然而，与特斯拉的“全自动驾驶”套件类似，预计将于2022年推出的NAD技术尚未使蔚来汽车能够在没有人工干预的情况下驾驶，但它确实使蔚来在通往4级自动驾驶的竞赛中与行业领导者特斯拉相提并论。蔚来车主将可以选择订阅ADaaS，每月订阅费为人民币680元。如今上路的蔚来汽车超过10.2万辆，新的订阅套餐预计将产生8.4亿元人民币（1.32亿美元）的年销售额增量；假设大多数现有蔚来车主注册的平均车辆寿命为12年，该服务推出后的额外收入流价值约为100亿元人民币（16亿美元）。</blockquote></p><p> NIO’s continuous developments in autonomous driving technology are expected to benefit the company and its shareholders greatly in the near future. By 2025, the global autonomous cars market will become one of the fastest growing and most highly demanded segments with an&nbsp;estimated value of $1.6 trillion. A 6% share of this market would add a valuation of at least $100 billion to NIO’s existing $67 billion market cap, boosting its per unit share value to more than $100. Considering NIO is currently one of the very few fully electric automakers to have achieved tangible results within the autonomous driving scene, and is actively growing its overseas sales, we are confident that the company is capable of capturing more than 6% of the said market share, and achieve a per unit share price of more than $100 by 2025 with ease. Combined with the global shift in consumer preference towards electrification and automation, we are projecting vehicle sales of approximately 300,000 units by FY 2025, which will yield total revenues of approximately RMB 140 billion ($22 billion).</p><p><blockquote>蔚来在自动驾驶技术方面的不断发展预计将在不久的将来使公司及其股东受益匪浅。到2025年，全球自动驾驶汽车市场将成为增长最快、需求最大的细分市场之一，估计价值为1.6万亿美元。该市场6%的份额将为蔚来现有670亿美元的市值增加至少1000亿美元的估值，使其每股价值超过100美元。考虑到蔚来是目前极少数在自动驾驶领域取得切实成果的全电动汽车制造商之一，并且正在积极增长其海外销量，我们有信心该公司有能力占据上述市场6%以上的份额，并轻松实现到2025年每股股价超过100美元。结合全球消费者偏好向电气化和自动化的转变，我们预计到2025财年汽车销量约为30万辆，总收入约为1400亿元人民币（220亿美元）。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b6c800a04e6df92802f6893d214eecdd\" tg-width=\"640\" tg-height=\"213\"><span>Source: Author, with data from our internal forecasts (NIO_-_Forecasted_Financial_Information.pdf).</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者，数据来自我们的内部预测（蔚来_-_Forecasted_Financial_Information.pdf）。</span></p></blockquote></p><p> <b>Global Expansion</b></p><p><blockquote><b>全球扩张</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/537449f8f7ee9c736b48c1776cbb7259\" tg-width=\"640\" tg-height=\"249\"><span>Source: ir.nio.com</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：ir.nio.com</span></p></blockquote></p><p> Another catalyst that will propel NIO’s share price beyond $100 is their ongoing overseas expansion efforts. NIO has been transparent about their intentions to expand globally, especially in the U.S. and Europe, as part of their plans in becoming an industry leader. NIO will be opening its first&nbsp;overseas sales and service centre in Oslo, Norway&nbsp;in September. The brand’s footprint in Norway will further expand in 2022 with four more NIO stores to open in Bergen, Stavanger, Trondheim and Kristiansand. In addition to its direct sales and service centres, NIO will also be introducing a full charging map for Europe, starting with four NIO Power Swap stations in Norway to provide new NIO owners with the convenience and range that the brand builds its success on. NIO’s flagship SUV, the&nbsp;ES8, which currently retails at a&nbsp;starting price of approximately US$67,000, will be the first model introduced in the European market, with the brand’s newest full-size sedan, the&nbsp;ET7, to follow in 2022.</p><p><blockquote>推动蔚来股价突破100美元的另一个催化剂是他们正在进行的海外扩张努力。蔚来一直公开表示其全球扩张的意图，特别是在美国和欧洲，作为其成为行业领导者计划的一部分。蔚来将于9月在挪威奥斯陆开设首个海外销售及服务中心。该品牌在挪威的足迹将于2022年进一步扩大，将在Bergen、Stavanger、Trondheim和Kristiansand开设四家蔚来商店。除了直销和服务中心外，蔚来还将在欧洲推出完整的充电地图，首先是在挪威的四个蔚来换电站，为新蔚来车主提供该品牌赖以成功的便利和续航里程。蔚来的旗舰SUV ES 8目前零售价约为67,000美元，将是首款引入欧洲市场的车型，该品牌最新的全尺寸轿车ET 7将于2022年紧随其后。</blockquote></p><p> With a proven sales track record in China’s luxury EV market, and specs comparable to the globally recognized Tesla, there is no reason for NIO to not succeed overseas. As mentioned in earlier sections, NIO’s vehicles have a driving range of up to 435 miles on a full charge, making it a desirable choice for potential European and American car owners looking for a reliable companion to accompany them on daily commutes to long road trips. The NIO exterior and interior designs are also modern, luxurious, and comparable to those preferred by the European and North American population. Combined with a diverse product line and price range, NIO is equipped to take on the increasing demands for EVs on a global scale.</p><p><blockquote>凭借在中国豪华电动汽车市场的良好销售记录，以及与全球公认的特斯拉相当的规格，蔚来没有理由不在海外取得成功。正如前面提到的，蔚来的车辆充满电后的行驶里程可达435英里，这使得它成为潜在的欧美车主的理想选择，他们正在寻找一个可靠的伴侣来陪伴他们进行日常通勤和长途旅行。蔚来的外观和内饰设计也是现代、豪华的，可与欧洲和北美人口的首选相媲美。结合多样化的产品线和价格范围，蔚来有能力满足全球范围内对电动汽车不断增长的需求。</blockquote></p><p> <b>NIO’s Historical Performance</b></p><p><blockquote><b>蔚来的历史表现</b></blockquote></p><p></p><p> Just a little more than a year ago, NIO’s share price hit an all-time low at under $2 amidst liquidity troubles despite continued vehicle sales. In mid-2020, the municipal government of Hefei, China came to NIO’s rescue with a&nbsp;capital injection of RMB 7 billion&nbsp;(approximately $1 billion). The arrangement resulted in the creation of “NIO China”, which serves as the operating entity that holds all of NIO’s core businesses and assets; NIO currently holds a 90.36% ownership interest in NIO China, while the “Hefei Strategic Investors” consortium holds the remainder 9.64%. The partnership became the company’s lifeline; the additional capital brought forth significant improvements to the company’s operations and vehicle sales, which were reflected in their strong financial performance and upward trend in share price in the summer of 2020. By the end of 2020’s second quarter, NIO’s share price rebounded by almost 20% on average after posting a 171% quarter-over-quarter increase in total revenues. The company’s share price more than tripled in 2020’s third quarter, averaging $15.40, and continued to climb towards its fourth quarter average of $38.70. By the end of the latest quarter ended March 31st, 2021, NIO’s share price averaged $50.97, and peaked at almost $62 in February which is more than 10x its&nbsp;IPO price in 2018. The company holds a market cap of more than $67 billion today, outgrowing its mere $1 billion market cap when it made its debut on the NYSE.</p><p><blockquote>就在一年多前，尽管汽车销量持续增长，但由于流动性问题，蔚来股价跌至2美元以下的历史低点。2020年年中，中国合肥市政府向蔚来注资70亿元人民币（约合10亿美元）。该安排导致创建了“蔚来中国”，作为持有蔚来所有核心业务和资产的运营实体；蔚来目前持有蔚来90.36%的所有权权益，而“合肥战略投资者”联合体持有馀下9.64%。这种合作关系成为了公司的生命线；额外资本为公司的运营和汽车销售带来了显着改善，这反映在其强劲的财务业绩和2020年夏季股价的上涨趋势上。截至2020年第二季度末，蔚来总收入环比增长171%，股价平均反弹近20%。该公司股价在2020年第三季度上涨了两倍多，平均为15.40美元，并继续攀升至第四季度平均38.70美元。截至2021年3月31日的最新季度末，蔚来的平均股价为50.97美元，并在2月份达到近62美元的峰值，是2018年IPO价格的10倍多。该公司目前的市值超过670亿美元，超过了其在纽约证券交易所上市时仅10亿美元的市值。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75a1d7edb18c1762028ba54f617e1982\" tg-width=\"640\" tg-height=\"250\"><span>Source: Author, with data from ir.nio.com</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者，数据来自ir.nio.com</span></p></blockquote></p><p> NIO’s fundamentals have also shown nothing but steady improvements since its share price peaked earlier this year before the&nbsp;growth stock sell-off in late February. Deliveries in 2021 have continued to accelerate exponentially, with first quarter deliveries of more than 20,000 vehicles, representing almost 50% of total deliveries made in 2020. The company continues to exhibit a promising outlook with more than 7,100 vehicles delivered in April, representing an increase of more than 125% year-over-year. NIO has also maintained positive cash flows from operating activities for the first quarter of 2021, thanks to the higher deliveries and effective cost-management measures which have amped up their gross profit margin to 19.5%, comparable with industry leaders like Tesla whose first quarter gross margins were 21%. As aforementioned, we are forecasting vehicle sales of close to 300,000 units by FY 2025, which translates to approximately RMB 140 billion ($22 billion) in total revenues ($18.60 per share). Our vehicle sales forecast for FY 2025 is further corroborated by the&nbsp;recently renewed manufacturing agreement&nbsp;with joint venturer “Jianghuai Automobile Group” (“JAC”), which increases the current annual production capacity of 100,000 units to 240,000 units; the ongoing construction of “NeoPark” in Hefei, China is also expected to add annual production capacity of 1 million units, which further supports our positive outlook on NIO’s continued commitment to grow its business. Considering industry peer Tesla’s current P/S ratio of 16.43x with approximately $42 billion in annual revenues (annualization of $10.389 billion in first quarter revenues), the same proportion applied to NIO’s forecasted FY 2025 total revenues is expected to yield a P/S ratio of 8.7x, resulting in a share price of more than $160.</p><p><blockquote>自今年早些时候股价在2月底成长型股票遭到抛售之前见顶以来，蔚来的基本面也只显示出稳步改善。2021年的交付量继续呈指数级增长，第一季度交付量超过20,000辆，几乎占2020年总交付量的50%。该公司继续展现出乐观的前景，4月份交付了超过7,100辆汽车，同比增长超过125%。得益于更高的交付量和有效的成本管理措施，蔚来在2021年第一季度的经营活动中也保持了正现金流，这些措施将其毛利率提高至19.5%，与特斯拉等行业领导者的毛利率相当。第一季度毛利率为21%。如上所述，我们预计到2025财年汽车销量将接近30万辆，这意味着总收入约为1400亿元人民币（220亿美元）（每股18.60美元）。我们最近与合资企业“江淮汽车集团”（“江淮汽车”）续签的制造协议进一步证实了我们对2025财年的汽车销售预测，该协议将目前100,000辆的年产能提高到240,000辆；正在建设中的“NeoPark”亦预期将新增100万台的年产能，这进一步支持了我们对蔚来继续致力于发展其业务的积极展望。考虑到行业同行特斯拉目前的市盈率为16.43倍，年收入约为420亿美元（第一季度收入年化为103.89亿美元），将相同比例应用于蔚来预测的2025财年总收入预计将产生市盈率8.7倍，股价超过160美元。</blockquote></p><p> <b>NIO vs. LI and XPEV</b></p><p><blockquote><b>蔚来vs.LI和XPEV</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/af8fa939f92be448d1f427a6ac4bfb25\" tg-width=\"640\" tg-height=\"352\"><span>Source: Finviz</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Finviz</span></p></blockquote></p><p> We have also compared NIO’s current P/S ratio to its domestic peers to gauge the timeline in which NIO’s share price will exceed $100. NIO currently trades at a P/S ratio of approximately 14.88x, while domestic industry peers, Li Auto(NASDAQ:LI)and XPEV, currently trade at a P/S ratio of 14.46x and 21.31x, respectively.</p><p><blockquote>我们还将蔚来目前的市盈率与其国内同行进行了比较，以衡量蔚来股价突破100美元的时间表。蔚来目前的市盈率约为14.88倍，而国内行业同行理想汽车（纳斯达克：LI）和XPEV目前的市盈率分别为14.46倍和21.31倍。</blockquote></p><p></p><p> Considering NIO’s technology, revenues, global footprint, and cash flows are stronger than LI’s and XPEV’s, the former deserves to be traded at a much higher multiple than the latter two. Even if NIO reaches a P/S ratio of 18.1x (mid-point to XPEV's), it will drive the company’s current share price up to $51.50, which represents an upside potential of 22% based on the last traded share price of $42.34 (June 1st). And based on our forecasted revenues for FY 2025 for NIO of RMB 140 billion ($22 billion), or $18.60 per share, even a multiple half of the 18.1x would be more than sufficient to bring NIO's share price beyond $160 by 2025; we believe the trading multiple is achievable for NIO given the cash from operations and technological advancements achieved by then would place them on a trajectory of continued long-term growth within the EV industry, which is expected to continue into 2030 and beyond when the brand's level 4 autonomous driving technology development is complete and commercialized.</p><p><blockquote>考虑到蔚来的技术、收入、全球足迹和现金流都强于LI和XPEV，前者的市盈率应该远高于后两者。即使蔚来的市盈率达到18.1倍（XPEV的中点），也将推动该公司当前股价上涨至51.50美元，基于上次交易股价42.34美元（6月1日），这意味着22%的上涨潜力。根据我们对蔚来2025财年收入1400亿元人民币（220亿美元）或每股18.60美元的预测，即使是18.1倍的一半也足以使蔚来的股价在2025年突破160美元；我们认为，蔚来的交易倍数是可以实现的，因为届时从运营中获得的现金和技术进步将使其走上电动汽车行业持续长期增长的轨道，预计这种增长将持续到2030年及以后，届时该品牌的4级自动驾驶技术开发完成并商业化。</blockquote></p><p> <b>Business Risks and Challenges</b></p><p><blockquote><b>业务风险及挑战</b></blockquote></p><p> As mentioned in one of my&nbsp;previous articles on NIO, the “Holding Foreign Companies Accountable Act” (“HFCA Act”) remains one of the most significant impending threats to the company’s share price. Currently, public accounting firms in China are non-compliant with PCAOB inspection rules required by the SEC, and the enactment of the HFCA Act in December 2020 requires that these public accounting firms comply with PCAOB inspection requests within three years of the enactment date; otherwise, all public companies audited by said firms will be subject to risks of de-listing. NIO is currently audited by PricewaterhouseCoopers Zhong Tian LLP, which is on PCAOB’s&nbsp;denied-access list. The potential threat of being delisted from the NYSE could be a deterrence factor to investors and ultimately hemorrhage NIO’s share price in the long run if Chinese authorities and the PCAOB cannot reach an agreement on conducting inspections soon.</p><p><blockquote>正如我在之前关于蔚来的一篇文章中提到的，《外国公司问责法》（“HFCA法案”）仍然是公司股价面临的最重大威胁之一。目前，中国的公共会计师事务所不符合SEC要求的PCAOB检查规则，2020年12月HFCA法案的颁布要求这些公共会计师事务所在颁布之日起三年内遵守PCAOB的检查要求；否则，上述事务所审计的所有上市公司都将面临退市风险。蔚来目前由普华永道中天会计师事务所（LLP）进行审计，该事务所被列入PCAOB的拒绝访问名单。如果中国当局和PCAOB不能很快就进行检查达成协议，从纽约证券交易所退市的潜在威胁可能会成为投资者的威慑因素，并最终导致蔚来股价长期下跌。</blockquote></p><p> Another imminent challenge to NIO’s business is the ongoing global chip supply shortage. As the automotive industry becomes more dependent on chips to manage every function of their vehicles, the gap between automaker demands and chip manufacturer supplies is widened. NIO was no exception to the impacts of the ongoing chip supply crisis – in March 2021, NIO halted their production activity at the JAC-NIO manufacturing plant for five working days in order to adjust their production levels. However, the company continues to effectively navigate through the situation as proven through their increasing number of deliveries month-over-month; in NIO’s latest delivery update press release for April, the company has continued to keep up with market demand with more than 7,100 vehicle deliveries made, representing a 125% year-over-year growth.</p><p><blockquote>蔚来业务面临的另一个迫在眉睫的挑战是持续的全球芯片供应短缺。随着汽车行业越来越依赖芯片来管理车辆的每一项功能，汽车制造商的需求和芯片制造商的供应之间的差距越来越大。蔚来也不例外地受到持续的芯片供应危机的影响——2021年3月，蔚来停止了江淮蔚来制造工厂的生产活动五个工作日，以调整生产水平。然而，该公司继续有效地应对这种情况，交付量逐月增加就证明了这一点；在蔚来4月份最新的交付更新新闻稿中，该公司继续满足市场需求，交付了超过7,100辆汽车，同比增长125%。</blockquote></p><p> Competition within the EV sector has also ramped up in recent years. Consumer attitude towards EVs has changed drastically in the past decade due to rising concerns over climate change met with price parity between traditional petrol-fueled vehicles and EVs. The entry barrier for emerging EV makers has also lowered significantly as car battery solutions become more accessible through third-party OEMs; new entrants are now keener on participating in the profitable opportunity within the growing EV sector as initial investments become more reasonable than it was for Tesla in 2003 when EVs were still just a concept to many. In addition to new entrants, traditional petrol-fueled automakers like Ford(NYSE:F)have also started to incorporate fully battery-powered vehicles into their fleet in order to meet evolving consumer demands and remain competitive within the automotive industry. However, we believe NIO possesses the brand, customer experience, production strategy, talent and business model (further analyzedhere) needed to remain successful within the new competitive landscape in the long run.</p><p><blockquote>近年来，电动汽车行业的竞争也愈演愈烈。在过去十年中，由于对气候变化的日益担忧以及传统汽油燃料汽车和电动汽车之间的价格平价，消费者对电动汽车的态度发生了巨大变化。随着第三方原始设备制造商更容易获得汽车电池解决方案，新兴电动汽车制造商的进入门槛也大幅降低；随着初始投资变得比2003年特斯拉更加合理，新进入者现在更热衷于参与不断增长的电动汽车行业的盈利机会，当时电动汽车对许多人来说仍然只是一个概念。除了新进入者之外，福特（纽约证券交易所股票代码：F）等传统汽油燃料汽车制造商也开始将全电池驱动的汽车纳入其车队，以满足不断变化的消费者需求并保持在汽车行业内的竞争力。然而，我们相信蔚来拥有在新的竞争格局中长期保持成功所需的品牌、客户体验、生产战略、人才和商业模式（此处进一步分析）。</blockquote></p><p> <b>Conclusion</b></p><p><blockquote><b>结论</b></blockquote></p><p> NIO has already established a strong brand presence within the domestic Chinese market, which is currently one of the fastest growing EV markets, representing more than 40% of global EV sales in 2020. Combined with their proven ability to produce quality EVs, construct innovative charging infrastructure, achieve breakthrough progress in the development of autonomous driving technology, and execute their overseas expansion strategy, NIO is effectively narrowing the gap between them and Tesla within the EV sector on a global scale. We are confident that the next five years will be a transformational era for the EV and tech company due to increasing demands for electrification and automation within the automotive industry, which NIO has already proven to excel in. The value of its continued achievements will be reflected in its share price in no time, making them a worthy stock pick for those looking to profit off of the impending age of green transition and automation.</p><p><blockquote>蔚来已经在中国国内市场建立了强大的品牌影响力，中国国内市场是目前增长最快的电动汽车市场之一，2020年占全球电动汽车销量的40%以上。结合其生产优质电动汽车、建设创新充电基础设施、在自动驾驶技术开发方面取得突破性进展以及执行海外扩张战略的能力，蔚来正在有效缩小与特斯拉在全球电动汽车领域的差距。我们相信，由于汽车行业对电气化和自动化的需求不断增长，未来五年将是电动汽车和科技公司的转型时代，蔚来已经证明在这方面表现出色。其持续成就的价值将很快反映在其股价中，对于那些希望从即将到来的绿色转型和自动化时代中获利的人来说，这使其成为值得选择的股票。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4432901-nio-stock-reach-100\">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":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4432901-nio-stock-reach-100","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148130971","content_text":"Summary\n\nNIO's share price has soared by more than 816% in the past year, peaking at almost $62 in early February before the growth stock sell-off in early March.\nThe company's innovative approach and overseas expansion strategy, combined with the growing market sentiment on global electrification and automation are expected to boost the company's valuation.\nWe believe NIO's share price will soar beyond $160 by 2025 as global EV sales continue to ramp up with autonomous driving becoming a reality.\n\nPhoto by Drew Angerer/Getty Images News via Getty Images\nDespite it being a local Chinese electric vehicle (“EV”) brand that has only recently started its overseas expansion into Europe, NIO(NYSE:NIO)has already garnered significant international attention amidst avid investors within the EV sector in recent years. It has only been three short years since NIO made its first deliveries in mid-2018, yet many are already wondering whether its share price can reach similar heights as an industry leader, Tesla’s(NASDAQ:TSLA). Albeit a little farfetched given Tesla is currently trading at more than $600 per share with a market cap of more than $600 billion, we do believe NIO has promising potential to break $100 per share before 2025. Even Wall Street Analysts remain optimistic about the company’s future by assigning a price target of close to $60, which represents upward potential of more than 35% based on the last traded share price of $42.34 (June 1st).\nFounded in 2014, NIO has sold and delivered more than 100,000 vehicles in China to date. The company boasts a fleet of five emission-free, fully battery-powered models, ranging from sports cars to luxury sedans and full-size SUVs. In addition to their vehicles, NIO is also known for their significant progress achieved in innovative technology, including state-of-the-art battery solutions, artificial intelligence, and autonomous driving. The company has also recently turned their global expansion plans into reality, with the first overseas NIO store to open in Oslo, Norway in Q3 2021. We believe that reaching a share price of $100 is no longer a question of “if”, but instead, “when”.\nA Trailblazer in Innovative Technology\nSource:ir.nio.com\nNIO has continuously exhibited characteristics of an unsettling innovator. The brand is widely known for their breakthrough in battery swapping technology, “Power Swap”, which provides NIO owners with a fast and convenient solution to concerns over the typically limited travel range of EVs. Similar to a gas station, Power Swap is a battery swapping station that can swap a dead battery out for a fully charged one in under three minutes; a fully charged battery enables a NIO vehicle to travel up to 435 miles, which is more than double of the 181-mile average travel range of electric vehicles currently available on the market. NIO owners have the option to subscribe to the“Battery as a Service” (“BaaS”)package, which is a monthly subscription service that provides NIO owners with flexible options for battery upgrades based on personal needs. The company currently offers a standard 75 kWh battery which enables a travel range of up to 310 miles on a full charge, and an enhanced 100 kWh battery which enables a travel range of up to 435 miles on a full charge; both are available for NIO owners to choose from on a month-to-month basis under BaaS. To date, there are more than 226 battery swapping stations across China, with more on the way following a recent strategic partnership agreement between NIO and Sinopec. NIO’s vehicles are also compatible with local competitor XPeng’s(NYSE:XPEV)1,140 vehicle charging stations available across 164 cities in China, which further enhances its existing network of charging infrastructure in place for NIO owners.\nIn addition to the developed network of infrastructure needed to sustain NIO EVs in the long run, the company has also been working diligently on perfecting their autonomous driving and AI technology in order to remain competitive in the broader EV and tech space. NIO has already been performing testing on its autonomous driving systems since 2016, with their first testing on public roads in Beijing performed in 2018. The company’s commitment to the future of passenger transportation is also proven through their development of EVE, the brand’s concept car for autonomous driving which encompasses a luxurious, comfortable and safe experience powered by NIO’s NOMI AI, the world’s first in-vehicle artificial intelligence.\nTo further enhance their progress in autonomous driving technology, NIO has recently partnered with Mobileye – an Intel-owned(NASDAQ:INTC)company known for developing the “EyeQ chip” currently used by more than 27 car manufacturers for their assisted-driving technologies – to develop and commercialize driving automation that does not require human interaction (i.e. “level 4” autonomous driving). Their collaboration is expected to accelerate NIO’s launch of the “Autonomous Driving as a Service” (“ADaaS”) package, which is a monthly subscription for their autonomous driving technology, “NIO Autonomous Driving” (“NAD”). However, similar to Tesla’s “Full Self-Driving” package, the NAD technology that is expected to launch in 2022 does not yet make NIO vehicles capable of driving without human intervention, but it does catapult NIO to a comparable spot with industry leader Tesla in the race towards level 4 autonomous driving. NIO owners will have the option to subscribe to ADaaS for a monthly subscription fee of RMB 680. With more than 102,000 NIO vehicles on the road today, the new subscription package is expected to generate incremental annual sales of RMB 840 million ($132 million); the additional revenue stream is valued at approximately RMB 10 billion ($1.6 billion) upon the service’s inception, assuming an average vehicle life of 12 years with most existing NIO owners signing up.\nNIO’s continuous developments in autonomous driving technology are expected to benefit the company and its shareholders greatly in the near future. By 2025, the global autonomous cars market will become one of the fastest growing and most highly demanded segments with an estimated value of $1.6 trillion. A 6% share of this market would add a valuation of at least $100 billion to NIO’s existing $67 billion market cap, boosting its per unit share value to more than $100. Considering NIO is currently one of the very few fully electric automakers to have achieved tangible results within the autonomous driving scene, and is actively growing its overseas sales, we are confident that the company is capable of capturing more than 6% of the said market share, and achieve a per unit share price of more than $100 by 2025 with ease. Combined with the global shift in consumer preference towards electrification and automation, we are projecting vehicle sales of approximately 300,000 units by FY 2025, which will yield total revenues of approximately RMB 140 billion ($22 billion).\nSource: Author, with data from our internal forecasts (NIO_-_Forecasted_Financial_Information.pdf).\nGlobal Expansion\nSource: ir.nio.com\nAnother catalyst that will propel NIO’s share price beyond $100 is their ongoing overseas expansion efforts. NIO has been transparent about their intentions to expand globally, especially in the U.S. and Europe, as part of their plans in becoming an industry leader. NIO will be opening its first overseas sales and service centre in Oslo, Norway in September. The brand’s footprint in Norway will further expand in 2022 with four more NIO stores to open in Bergen, Stavanger, Trondheim and Kristiansand. In addition to its direct sales and service centres, NIO will also be introducing a full charging map for Europe, starting with four NIO Power Swap stations in Norway to provide new NIO owners with the convenience and range that the brand builds its success on. NIO’s flagship SUV, the ES8, which currently retails at a starting price of approximately US$67,000, will be the first model introduced in the European market, with the brand’s newest full-size sedan, the ET7, to follow in 2022.\nWith a proven sales track record in China’s luxury EV market, and specs comparable to the globally recognized Tesla, there is no reason for NIO to not succeed overseas. As mentioned in earlier sections, NIO’s vehicles have a driving range of up to 435 miles on a full charge, making it a desirable choice for potential European and American car owners looking for a reliable companion to accompany them on daily commutes to long road trips. The NIO exterior and interior designs are also modern, luxurious, and comparable to those preferred by the European and North American population. Combined with a diverse product line and price range, NIO is equipped to take on the increasing demands for EVs on a global scale.\nNIO’s Historical Performance\nJust a little more than a year ago, NIO’s share price hit an all-time low at under $2 amidst liquidity troubles despite continued vehicle sales. In mid-2020, the municipal government of Hefei, China came to NIO’s rescue with a capital injection of RMB 7 billion (approximately $1 billion). The arrangement resulted in the creation of “NIO China”, which serves as the operating entity that holds all of NIO’s core businesses and assets; NIO currently holds a 90.36% ownership interest in NIO China, while the “Hefei Strategic Investors” consortium holds the remainder 9.64%. The partnership became the company’s lifeline; the additional capital brought forth significant improvements to the company’s operations and vehicle sales, which were reflected in their strong financial performance and upward trend in share price in the summer of 2020. By the end of 2020’s second quarter, NIO’s share price rebounded by almost 20% on average after posting a 171% quarter-over-quarter increase in total revenues. The company’s share price more than tripled in 2020’s third quarter, averaging $15.40, and continued to climb towards its fourth quarter average of $38.70. By the end of the latest quarter ended March 31st, 2021, NIO’s share price averaged $50.97, and peaked at almost $62 in February which is more than 10x its IPO price in 2018. The company holds a market cap of more than $67 billion today, outgrowing its mere $1 billion market cap when it made its debut on the NYSE.\nSource: Author, with data from ir.nio.com\nNIO’s fundamentals have also shown nothing but steady improvements since its share price peaked earlier this year before the growth stock sell-off in late February. Deliveries in 2021 have continued to accelerate exponentially, with first quarter deliveries of more than 20,000 vehicles, representing almost 50% of total deliveries made in 2020. The company continues to exhibit a promising outlook with more than 7,100 vehicles delivered in April, representing an increase of more than 125% year-over-year. NIO has also maintained positive cash flows from operating activities for the first quarter of 2021, thanks to the higher deliveries and effective cost-management measures which have amped up their gross profit margin to 19.5%, comparable with industry leaders like Tesla whose first quarter gross margins were 21%. As aforementioned, we are forecasting vehicle sales of close to 300,000 units by FY 2025, which translates to approximately RMB 140 billion ($22 billion) in total revenues ($18.60 per share). Our vehicle sales forecast for FY 2025 is further corroborated by the recently renewed manufacturing agreement with joint venturer “Jianghuai Automobile Group” (“JAC”), which increases the current annual production capacity of 100,000 units to 240,000 units; the ongoing construction of “NeoPark” in Hefei, China is also expected to add annual production capacity of 1 million units, which further supports our positive outlook on NIO’s continued commitment to grow its business. Considering industry peer Tesla’s current P/S ratio of 16.43x with approximately $42 billion in annual revenues (annualization of $10.389 billion in first quarter revenues), the same proportion applied to NIO’s forecasted FY 2025 total revenues is expected to yield a P/S ratio of 8.7x, resulting in a share price of more than $160.\nNIO vs. LI and XPEV\nSource: Finviz\nWe have also compared NIO’s current P/S ratio to its domestic peers to gauge the timeline in which NIO’s share price will exceed $100. NIO currently trades at a P/S ratio of approximately 14.88x, while domestic industry peers, Li Auto(NASDAQ:LI)and XPEV, currently trade at a P/S ratio of 14.46x and 21.31x, respectively.\nConsidering NIO’s technology, revenues, global footprint, and cash flows are stronger than LI’s and XPEV’s, the former deserves to be traded at a much higher multiple than the latter two. Even if NIO reaches a P/S ratio of 18.1x (mid-point to XPEV's), it will drive the company’s current share price up to $51.50, which represents an upside potential of 22% based on the last traded share price of $42.34 (June 1st). And based on our forecasted revenues for FY 2025 for NIO of RMB 140 billion ($22 billion), or $18.60 per share, even a multiple half of the 18.1x would be more than sufficient to bring NIO's share price beyond $160 by 2025; we believe the trading multiple is achievable for NIO given the cash from operations and technological advancements achieved by then would place them on a trajectory of continued long-term growth within the EV industry, which is expected to continue into 2030 and beyond when the brand's level 4 autonomous driving technology development is complete and commercialized.\nBusiness Risks and Challenges\nAs mentioned in one of my previous articles on NIO, the “Holding Foreign Companies Accountable Act” (“HFCA Act”) remains one of the most significant impending threats to the company’s share price. Currently, public accounting firms in China are non-compliant with PCAOB inspection rules required by the SEC, and the enactment of the HFCA Act in December 2020 requires that these public accounting firms comply with PCAOB inspection requests within three years of the enactment date; otherwise, all public companies audited by said firms will be subject to risks of de-listing. NIO is currently audited by PricewaterhouseCoopers Zhong Tian LLP, which is on PCAOB’s denied-access list. The potential threat of being delisted from the NYSE could be a deterrence factor to investors and ultimately hemorrhage NIO’s share price in the long run if Chinese authorities and the PCAOB cannot reach an agreement on conducting inspections soon.\nAnother imminent challenge to NIO’s business is the ongoing global chip supply shortage. As the automotive industry becomes more dependent on chips to manage every function of their vehicles, the gap between automaker demands and chip manufacturer supplies is widened. NIO was no exception to the impacts of the ongoing chip supply crisis – in March 2021, NIO halted their production activity at the JAC-NIO manufacturing plant for five working days in order to adjust their production levels. However, the company continues to effectively navigate through the situation as proven through their increasing number of deliveries month-over-month; in NIO’s latest delivery update press release for April, the company has continued to keep up with market demand with more than 7,100 vehicle deliveries made, representing a 125% year-over-year growth.\nCompetition within the EV sector has also ramped up in recent years. Consumer attitude towards EVs has changed drastically in the past decade due to rising concerns over climate change met with price parity between traditional petrol-fueled vehicles and EVs. The entry barrier for emerging EV makers has also lowered significantly as car battery solutions become more accessible through third-party OEMs; new entrants are now keener on participating in the profitable opportunity within the growing EV sector as initial investments become more reasonable than it was for Tesla in 2003 when EVs were still just a concept to many. In addition to new entrants, traditional petrol-fueled automakers like Ford(NYSE:F)have also started to incorporate fully battery-powered vehicles into their fleet in order to meet evolving consumer demands and remain competitive within the automotive industry. However, we believe NIO possesses the brand, customer experience, production strategy, talent and business model (further analyzedhere) needed to remain successful within the new competitive landscape in the long run.\nConclusion\nNIO has already established a strong brand presence within the domestic Chinese market, which is currently one of the fastest growing EV markets, representing more than 40% of global EV sales in 2020. Combined with their proven ability to produce quality EVs, construct innovative charging infrastructure, achieve breakthrough progress in the development of autonomous driving technology, and execute their overseas expansion strategy, NIO is effectively narrowing the gap between them and Tesla within the EV sector on a global scale. We are confident that the next five years will be a transformational era for the EV and tech company due to increasing demands for electrification and automation within the automotive industry, which NIO has already proven to excel in. The value of its continued achievements will be reflected in its share price in no time, making them a worthy stock pick for those looking to profit off of the impending age of green transition and automation.","news_type":1,"symbols_score_info":{"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":1161,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":116321164,"gmtCreate":1622775605158,"gmtModify":1631890348108,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575346220147121","idStr":"3575346220147121"},"themes":[],"htmlText":"Please like and comment&nbsp;","listText":"Please like and comment&nbsp;","text":"Please like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/116321164","repostId":"2140026421","repostType":4,"isVote":1,"tweetType":1,"viewCount":1555,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":110129089,"gmtCreate":1622432128241,"gmtModify":1631890348108,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575346220147121","idStr":"3575346220147121"},"themes":[],"htmlText":"Please like and comment&nbsp;","listText":"Please like and comment&nbsp;","text":"Please like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/110129089","repostId":"1127487048","repostType":4,"repost":{"id":"1127487048","kind":"news","pubTimestamp":1622416539,"share":"https://www.laohu8.com/m/news/1127487048?lang=zh_CN&edition=full","pubTime":"2021-05-31 07:15","market":"us","language":"en","title":"Zoom, Lululemon, Canopy Growth and Other Stocks for Investors to See This Week<blockquote>Zoom、Lululemon、Canopy Growth和其他本周值得投资者关注的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1127487048","media":"Barron's","summary":"U.S. stock and bond markets are closed Monday for Memorial Day. Investors will return from the long ","content":"<p>U.S. stock and bond markets are closed Monday for Memorial Day. <a href=\"https://laohu8.com/S/ISBC\">Investors</a> will return from the long weekend to a handful of notable companies’ quarterly results.&nbsp;<a href=\"https://laohu8.com/S/ZM\">Zoom</a> Video <a href=\"https://laohu8.com/S/JCS\">Communications</a>,Canopy Growth,and&nbsp;Hewlett Packard Enterprisereport on Tuesday, followed by&nbsp;Advance Auto Partson Wednesday. On Thursday,&nbsp;<a href=\"https://laohu8.com/S/AVGO\">Broadcom</a>,DocuSign,and&nbsp;Lululemon&nbsp;Athletica release results.</p><p><blockquote>美国股市和债券市场周一因阵亡将士纪念日休市。<a href=\"https://laohu8.com/S/ISBC\">投资者</a>将从长周末返回一些著名公司的季度业绩。<a href=\"https://laohu8.com/S/ZM\">Zoom</a>录像<a href=\"https://laohu8.com/S/JCS\">通讯</a>、Canopy Growth和Hewlett Packard Enterprise周二发布报告，随后是Advance Auto Partson周三发布报告。周四，<a href=\"https://laohu8.com/S/AVGO\">Broadcom</a>、DocuSign和Lululemon Athletica发布结果。</blockquote></p><p>The highlight on the economic-data calendar this week will be Friday’s May jobs report from the Bureau of Labor Statistics. The consensus forecast is for a gain of 700,000 nonfarm payrolls, after a disappointing 266,000 in April. The unemployment rate is expected to tick down&nbsp;to 5.9%, from 6.1%.</p><p><blockquote>本周经济数据日历上的亮点将是美国劳工统计局周五发布的5月份就业报告。市场普遍预测非农就业人数将增加700,000人，而4月份非农就业人数为令人失望的266,000人。失业率预计将从6.1%降至5.9%。</blockquote></p><p>Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for May on Tuesday and the Services equivalent on Thursday. Both are seen staying roughly even with April’s buoyant levels.&nbsp;The Organization for Economic Cooperation and Development also releases its latest economic outlook on Monday.</p><p><blockquote>本周公布的其他数据包括供应管理协会周二公布的5月份制造业采购经理人指数和周四公布的服务业采购经理人指数。预计两者都与4月份的强劲水平大致持平。经济合作与发展组织周一也发布了最新的经济展望。</blockquote></p><p>Monday 5/31</p><p><blockquote>星期一5/31</blockquote></p><p><b>Stock and fixed-income</b>&nbsp;markets are closed in observance of Memorial Day.</p><p><blockquote><b>股票和固定收益</b>为纪念阵亡将士纪念日，市场休市。</blockquote></p><p><b>The Organization</b>for Economic Cooperation and Development releases its latest economic outlook. In its March interim report, the OECD projected a 5.6% growth rate for global gross domestic product in 2021, an upward revision of a full percentage point from the December 2020 forecast.</p><p><blockquote><b>本组织</b>经济合作与发展部发布了最新的经济展望。经合组织在3月份的中期报告中预计2021年全球国内生产总值增长率为5.6%，较2020年12月的预测上调了整整一个百分点。</blockquote></p><p>Tuesday 6/1</p><p><blockquote>星期二6/1</blockquote></p><p><a href=\"https://laohu8.com/S/BNS\">Bank of Nova Scotia</a>,Canopy Growth, <a href=\"https://laohu8.com/S/HPE\">Hewlett Packard Enterprise</a>, and Zoom Video Communications announce quarterly results.</p><p><blockquote><a href=\"https://laohu8.com/S/BNS\">新斯科舍银行</a>、冠层生长、<a href=\"https://laohu8.com/S/HPE\">慧与</a>，Zoom Video通信公布季度业绩。</blockquote></p><p><b>The Institute for Supply</b>Management releases its Manufacturing Purchasing Managers’ Index for May. Consensus estimate is for a 60.8 reading, roughly even with the April data.</p><p><blockquote><b>供应研究所</b>管理层发布5月份制造业采购经理人指数。普遍预期为60.8，与4月份数据大致持平。</blockquote></p><p><b>The Census Bureau</b>reports construction spending for April. Expectations are for a 0.6% month-over-month rise to a seasonally adjusted annual rate of $1.52 trillion. Construction spending remains just below its all-time peak in January of this year.</p><p><blockquote><b>人口普查局</b>报告四月份建筑支出。预计环比增长0.6%，经季节调整后的年率为1.52万亿美元。建筑支出仍略低于今年1月的历史峰值。</blockquote></p><p>Wednesday 6/2</p><p><blockquote>星期三6/2</blockquote></p><p><a href=\"https://laohu8.com/S/AAP\">Advance Auto Parts</a>,<a href=\"https://laohu8.com/S/NTAP\">NetApp</a>,and PVH report earnings.</p><p><blockquote><a href=\"https://laohu8.com/S/AAP\">高级汽车零部件</a>,<a href=\"https://laohu8.com/S/NTAP\">NetApp</a>和PVH报告收益。</blockquote></p><p><a href=\"https://laohu8.com/S/PM\">Philip Morris</a> Internationalhosts a webcast led by CEO Jacek Olczak to discuss the company’s sustainability strategy.</p><p><blockquote><a href=\"https://laohu8.com/S/PM\">菲利普·莫里斯</a>Internationalhosts由首席执行官Jacek Olczak主持网络广播，讨论公司的可持续发展战略。</blockquote></p><p><b>The Federal Reserve</b>releases the beige book for the fourth of eight times this year. The report presents anecdotal data on the health of the economy collected by the 12 Federal Reserve Bank districts.</p><p><blockquote><b>美联储</b>今年发布了八次褐皮书中的第四次。该报告提供了12个美联储银行区收集的有关经济健康状况的轶事数据。</blockquote></p><p>Thursday 6/3</p><p><blockquote>星期四6/3</blockquote></p><p><b>ADP releases its <a href=\"https://laohu8.com/S/NHLD\">National</a> Employment</b>report for May. Consensus estimate is for a 610,000 gain in nonfarm private-sector employment, following an increase of 742,000 in April.</p><p><blockquote><b>ADP发布其<a href=\"https://laohu8.com/S/NHLD\">国家的</a>就业</b>五月份的报告。市场普遍估计非农私营部门就业人数将增加610,000人，而4月份增加了742,000人。</blockquote></p><p>Broadcom,CooperCos., DocuSign,J.M. Smucker,and <a href=\"https://laohu8.com/S/LULU\">Lululemon Athletica</a> hold conference calls to discuss earnings.</p><p><blockquote>博通，库珀科斯。，DocuSign，J.M。Smucker，和<a href=\"https://laohu8.com/S/LULU\">露露柠檬运动</a>召开会议评级讨论收益。</blockquote></p><p><b>The Bureau of Economic Analysis</b>reports total light-vehicle sales for May. In April, they hit a seasonally adjusted annual rate of 18.5 million, the highest figure since July 2005.</p><p><blockquote><b>经济分析局</b>报告5月份轻型汽车总销量。4月份，经季节调整后的年增长率达到1850万辆，为2005年7月以来的最高数字。</blockquote></p><p><b>The ISM releases</b>its Services PMI for May. Consensus estimate is for a 63.2 reading, compared with April’s 62.7 figure.</p><p><blockquote><b>ISM发布</b>其5月份服务业PMI。普遍预期为63.2，而4月份为62.7。</blockquote></p><p>Friday 6/4</p><p><blockquote>星期五6/4</blockquote></p><p>Amgenhosts a conference call to discuss drug trial data from its oncology pipeline. The information will be presented at the 2021 <a href=\"https://laohu8.com/S/AFG\">American</a> Society of Clinical Oncology annual meeting, which runs virtually from June 4 through June 8.</p><p><blockquote>安进主办了一次电话会议，讨论其肿瘤学管道的药物试验数据。该信息将在2021年<a href=\"https://laohu8.com/S/AFG\">美国的</a>临床肿瘤学会年会，从6月4日持续到6月8日。</blockquote></p><p><b>The Bureau of Labor</b>Statistics releases the jobs report for May. Economists forecast a 700,000 rise in nonfarm payrolls, after a relatively modest 266,000 gain in April. The unemployment rate is expected to edge down to 5.9% from 6.1%. The April increase was a massive shortfall from the <a href=\"https://laohu8.com/S/AONE\">one</a> million jump expected by some economists.</p><p><blockquote><b>劳工局</b>统计局发布五月份就业报告。经济学家预测非农就业人数将增加700,000人，而4月份非农就业人数相对温和地增加了266,000人。失业率预计将从6.1%小幅降至5.9%。四月份的增幅与<a href=\"https://laohu8.com/S/AONE\">一</a>一些经济学家预计将增加100万美元。</blockquote></p><p></p>","source":"lsy1610680873436","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>Zoom, Lululemon, Canopy Growth and Other Stocks for Investors to See This Week<blockquote>Zoom、Lululemon、Canopy Growth和其他本周值得投资者关注的股票</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\">\nZoom, Lululemon, Canopy Growth and Other Stocks for Investors to See This Week<blockquote>Zoom、Lululemon、Canopy Growth和其他本周值得投资者关注的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-05-31 07:15</span>\n</p>\n</h4>\n</header>\n<article>\n<p>U.S. stock and bond markets are closed Monday for Memorial Day. <a href=\"https://laohu8.com/S/ISBC\">Investors</a> will return from the long weekend to a handful of notable companies’ quarterly results.&nbsp;<a href=\"https://laohu8.com/S/ZM\">Zoom</a> Video <a href=\"https://laohu8.com/S/JCS\">Communications</a>,Canopy Growth,and&nbsp;Hewlett Packard Enterprisereport on Tuesday, followed by&nbsp;Advance Auto Partson Wednesday. On Thursday,&nbsp;<a href=\"https://laohu8.com/S/AVGO\">Broadcom</a>,DocuSign,and&nbsp;Lululemon&nbsp;Athletica release results.</p><p><blockquote>美国股市和债券市场周一因阵亡将士纪念日休市。<a href=\"https://laohu8.com/S/ISBC\">投资者</a>将从长周末返回一些著名公司的季度业绩。<a href=\"https://laohu8.com/S/ZM\">Zoom</a>录像<a href=\"https://laohu8.com/S/JCS\">通讯</a>、Canopy Growth和Hewlett Packard Enterprise周二发布报告，随后是Advance Auto Partson周三发布报告。周四，<a href=\"https://laohu8.com/S/AVGO\">Broadcom</a>、DocuSign和Lululemon Athletica发布结果。</blockquote></p><p>The highlight on the economic-data calendar this week will be Friday’s May jobs report from the Bureau of Labor Statistics. The consensus forecast is for a gain of 700,000 nonfarm payrolls, after a disappointing 266,000 in April. The unemployment rate is expected to tick down&nbsp;to 5.9%, from 6.1%.</p><p><blockquote>本周经济数据日历上的亮点将是美国劳工统计局周五发布的5月份就业报告。市场普遍预测非农就业人数将增加700,000人，而4月份非农就业人数为令人失望的266,000人。失业率预计将从6.1%降至5.9%。</blockquote></p><p>Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for May on Tuesday and the Services equivalent on Thursday. Both are seen staying roughly even with April’s buoyant levels.&nbsp;The Organization for Economic Cooperation and Development also releases its latest economic outlook on Monday.</p><p><blockquote>本周公布的其他数据包括供应管理协会周二公布的5月份制造业采购经理人指数和周四公布的服务业采购经理人指数。预计两者都与4月份的强劲水平大致持平。经济合作与发展组织周一也发布了最新的经济展望。</blockquote></p><p>Monday 5/31</p><p><blockquote>星期一5/31</blockquote></p><p><b>Stock and fixed-income</b>&nbsp;markets are closed in observance of Memorial Day.</p><p><blockquote><b>股票和固定收益</b>为纪念阵亡将士纪念日，市场休市。</blockquote></p><p><b>The Organization</b>for Economic Cooperation and Development releases its latest economic outlook. In its March interim report, the OECD projected a 5.6% growth rate for global gross domestic product in 2021, an upward revision of a full percentage point from the December 2020 forecast.</p><p><blockquote><b>本组织</b>经济合作与发展部发布了最新的经济展望。经合组织在3月份的中期报告中预计2021年全球国内生产总值增长率为5.6%，较2020年12月的预测上调了整整一个百分点。</blockquote></p><p>Tuesday 6/1</p><p><blockquote>星期二6/1</blockquote></p><p><a href=\"https://laohu8.com/S/BNS\">Bank of Nova Scotia</a>,Canopy Growth, <a href=\"https://laohu8.com/S/HPE\">Hewlett Packard Enterprise</a>, and Zoom Video Communications announce quarterly results.</p><p><blockquote><a href=\"https://laohu8.com/S/BNS\">新斯科舍银行</a>、冠层生长、<a href=\"https://laohu8.com/S/HPE\">慧与</a>，Zoom Video通信公布季度业绩。</blockquote></p><p><b>The Institute for Supply</b>Management releases its Manufacturing Purchasing Managers’ Index for May. Consensus estimate is for a 60.8 reading, roughly even with the April data.</p><p><blockquote><b>供应研究所</b>管理层发布5月份制造业采购经理人指数。普遍预期为60.8，与4月份数据大致持平。</blockquote></p><p><b>The Census Bureau</b>reports construction spending for April. Expectations are for a 0.6% month-over-month rise to a seasonally adjusted annual rate of $1.52 trillion. Construction spending remains just below its all-time peak in January of this year.</p><p><blockquote><b>人口普查局</b>报告四月份建筑支出。预计环比增长0.6%，经季节调整后的年率为1.52万亿美元。建筑支出仍略低于今年1月的历史峰值。</blockquote></p><p>Wednesday 6/2</p><p><blockquote>星期三6/2</blockquote></p><p><a href=\"https://laohu8.com/S/AAP\">Advance Auto Parts</a>,<a href=\"https://laohu8.com/S/NTAP\">NetApp</a>,and PVH report earnings.</p><p><blockquote><a href=\"https://laohu8.com/S/AAP\">高级汽车零部件</a>,<a href=\"https://laohu8.com/S/NTAP\">NetApp</a>和PVH报告收益。</blockquote></p><p><a href=\"https://laohu8.com/S/PM\">Philip Morris</a> Internationalhosts a webcast led by CEO Jacek Olczak to discuss the company’s sustainability strategy.</p><p><blockquote><a href=\"https://laohu8.com/S/PM\">菲利普·莫里斯</a>Internationalhosts由首席执行官Jacek Olczak主持网络广播，讨论公司的可持续发展战略。</blockquote></p><p><b>The Federal Reserve</b>releases the beige book for the fourth of eight times this year. The report presents anecdotal data on the health of the economy collected by the 12 Federal Reserve Bank districts.</p><p><blockquote><b>美联储</b>今年发布了八次褐皮书中的第四次。该报告提供了12个美联储银行区收集的有关经济健康状况的轶事数据。</blockquote></p><p>Thursday 6/3</p><p><blockquote>星期四6/3</blockquote></p><p><b>ADP releases its <a href=\"https://laohu8.com/S/NHLD\">National</a> Employment</b>report for May. Consensus estimate is for a 610,000 gain in nonfarm private-sector employment, following an increase of 742,000 in April.</p><p><blockquote><b>ADP发布其<a href=\"https://laohu8.com/S/NHLD\">国家的</a>就业</b>五月份的报告。市场普遍估计非农私营部门就业人数将增加610,000人，而4月份增加了742,000人。</blockquote></p><p>Broadcom,CooperCos., DocuSign,J.M. Smucker,and <a href=\"https://laohu8.com/S/LULU\">Lululemon Athletica</a> hold conference calls to discuss earnings.</p><p><blockquote>博通，库珀科斯。，DocuSign，J.M。Smucker，和<a href=\"https://laohu8.com/S/LULU\">露露柠檬运动</a>召开会议评级讨论收益。</blockquote></p><p><b>The Bureau of Economic Analysis</b>reports total light-vehicle sales for May. In April, they hit a seasonally adjusted annual rate of 18.5 million, the highest figure since July 2005.</p><p><blockquote><b>经济分析局</b>报告5月份轻型汽车总销量。4月份，经季节调整后的年增长率达到1850万辆，为2005年7月以来的最高数字。</blockquote></p><p><b>The ISM releases</b>its Services PMI for May. Consensus estimate is for a 63.2 reading, compared with April’s 62.7 figure.</p><p><blockquote><b>ISM发布</b>其5月份服务业PMI。普遍预期为63.2，而4月份为62.7。</blockquote></p><p>Friday 6/4</p><p><blockquote>星期五6/4</blockquote></p><p>Amgenhosts a conference call to discuss drug trial data from its oncology pipeline. The information will be presented at the 2021 <a href=\"https://laohu8.com/S/AFG\">American</a> Society of Clinical Oncology annual meeting, which runs virtually from June 4 through June 8.</p><p><blockquote>安进主办了一次电话会议，讨论其肿瘤学管道的药物试验数据。该信息将在2021年<a href=\"https://laohu8.com/S/AFG\">美国的</a>临床肿瘤学会年会，从6月4日持续到6月8日。</blockquote></p><p><b>The Bureau of Labor</b>Statistics releases the jobs report for May. Economists forecast a 700,000 rise in nonfarm payrolls, after a relatively modest 266,000 gain in April. The unemployment rate is expected to edge down to 5.9% from 6.1%. The April increase was a massive shortfall from the <a href=\"https://laohu8.com/S/AONE\">one</a> million jump expected by some economists.</p><p><blockquote><b>劳工局</b>统计局发布五月份就业报告。经济学家预测非农就业人数将增加700,000人，而4月份非农就业人数相对温和地增加了266,000人。失业率预计将从6.1%小幅降至5.9%。四月份的增幅与<a href=\"https://laohu8.com/S/AONE\">一</a>一些经济学家预计将增加100万美元。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/zoom-lululemon-canopy-growth-and-other-stocks-for-investors-to-watch-this-week-51622401200\">Barron's</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":{"ISBC":"投资者银行","LULU":"lululemon athletica","CGC":"Canopy Growth Corporation","ZM":"Zoom",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.barrons.com/articles/zoom-lululemon-canopy-growth-and-other-stocks-for-investors-to-watch-this-week-51622401200","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127487048","content_text":"U.S. stock and bond markets are closed Monday for Memorial Day. Investors will return from the long weekend to a handful of notable companies’ quarterly results. Zoom Video Communications,Canopy Growth,and Hewlett Packard Enterprisereport on Tuesday, followed by Advance Auto Partson Wednesday. On Thursday, Broadcom,DocuSign,and Lululemon Athletica release results.The highlight on the economic-data calendar this week will be Friday’s May jobs report from the Bureau of Labor Statistics. The consensus forecast is for a gain of 700,000 nonfarm payrolls, after a disappointing 266,000 in April. The unemployment rate is expected to tick down to 5.9%, from 6.1%.Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for May on Tuesday and the Services equivalent on Thursday. Both are seen staying roughly even with April’s buoyant levels. The Organization for Economic Cooperation and Development also releases its latest economic outlook on Monday.Monday 5/31Stock and fixed-income markets are closed in observance of Memorial Day.The Organizationfor Economic Cooperation and Development releases its latest economic outlook. In its March interim report, the OECD projected a 5.6% growth rate for global gross domestic product in 2021, an upward revision of a full percentage point from the December 2020 forecast.Tuesday 6/1Bank of Nova Scotia,Canopy Growth, Hewlett Packard Enterprise, and Zoom Video Communications announce quarterly results.The Institute for SupplyManagement releases its Manufacturing Purchasing Managers’ Index for May. Consensus estimate is for a 60.8 reading, roughly even with the April data.The Census Bureaureports construction spending for April. Expectations are for a 0.6% month-over-month rise to a seasonally adjusted annual rate of $1.52 trillion. Construction spending remains just below its all-time peak in January of this year.Wednesday 6/2Advance Auto Parts,NetApp,and PVH report earnings.Philip Morris Internationalhosts a webcast led by CEO Jacek Olczak to discuss the company’s sustainability strategy.The Federal Reservereleases the beige book for the fourth of eight times this year. The report presents anecdotal data on the health of the economy collected by the 12 Federal Reserve Bank districts.Thursday 6/3ADP releases its National Employmentreport for May. Consensus estimate is for a 610,000 gain in nonfarm private-sector employment, following an increase of 742,000 in April.Broadcom,CooperCos., DocuSign,J.M. Smucker,and Lululemon Athletica hold conference calls to discuss earnings.The Bureau of Economic Analysisreports total light-vehicle sales for May. In April, they hit a seasonally adjusted annual rate of 18.5 million, the highest figure since July 2005.The ISM releasesits Services PMI for May. Consensus estimate is for a 63.2 reading, compared with April’s 62.7 figure.Friday 6/4Amgenhosts a conference call to discuss drug trial data from its oncology pipeline. The information will be presented at the 2021 American Society of Clinical Oncology annual meeting, which runs virtually from June 4 through June 8.The Bureau of LaborStatistics releases the jobs report for May. Economists forecast a 700,000 rise in nonfarm payrolls, after a relatively modest 266,000 gain in April. The unemployment rate is expected to edge down to 5.9% from 6.1%. The April increase was a massive shortfall from the one million jump expected by some economists.","news_type":1,"symbols_score_info":{"CGC":0.9,"ISBC":0.9,"LULU":0.9,".DJI":0.9,"ZM":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2362,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":130659610,"gmtCreate":1621546308930,"gmtModify":1631891725231,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575346220147121","idStr":"3575346220147121"},"themes":[],"htmlText":"Pls like and comment&nbsp;","listText":"Pls like and comment&nbsp;","text":"Pls like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/130659610","repostId":"1135487235","repostType":4,"isVote":1,"tweetType":1,"viewCount":770,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":198708982,"gmtCreate":1620987128346,"gmtModify":1631891725235,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575346220147121","idStr":"3575346220147121"},"themes":[],"htmlText":"Like and share pls&nbsp;","listText":"Like and share pls&nbsp;","text":"Like and share pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/198708982","repostId":"1112285344","repostType":4,"isVote":1,"tweetType":1,"viewCount":721,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":198701483,"gmtCreate":1620987105842,"gmtModify":1631891725238,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575346220147121","idStr":"3575346220147121"},"themes":[],"htmlText":"Like and share pls","listText":"Like and share pls","text":"Like and share pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/198701483","repostId":"1192168156","repostType":4,"repost":{"id":"1192168156","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":1620985878,"share":"https://www.laohu8.com/m/news/1192168156?lang=zh_CN&edition=full","pubTime":"2021-05-14 17:51","market":"us","language":"en","title":"Disney slips over 3% as quarter's streaming subs fail to rise to pandemic occasion<blockquote>由于本季度流媒体订阅量未能跟上大流行的步伐，迪士尼股价下跌超过3%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1192168156","media":"Tiger Newspress","summary":" Walt Disney is 3.38% lower on its fiscal second-quarter earnings report, where revenues fell worse than expected and itshighly watched Disney Plus subscriber numbers fell short of expectations.Revenues fell 13.3% to $15.6B, some $320M short of consensus, as streaming didn't mitigate parks losses as much as expected. And profitability measures by contrast came in ahead of expectations.EPS excluding certain items rose 32% to $0.79, however. . But Disney Plus subscribers hit 103.6M. That's roughly","content":"<p>(May 14)&nbsp;Walt Disney&nbsp;is&nbsp;3.38% lower&nbsp;on its&nbsp;fiscal second-quarter earnings report, where revenues fell worse than expected and itshighly watched Disney Plus subscriber numbers fell short of expectations.</p><p><blockquote>（5月14日）华特迪斯尼公布第二财季收益报告，股价下跌3.38%，该报告的收入降幅低于预期，备受关注的迪斯尼加用户数量也低于预期。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/83fcfefdaaf6cf9a01e3bc834d1f8a64\" tg-width=\"769\" tg-height=\"564\"></p><p><blockquote></blockquote></p><p> Revenues fell 13.3% to $15.6B, some $320M short of consensus, as streaming didn't mitigate parks losses as much as expected. And profitability measures by contrast came in ahead of expectations.</p><p><blockquote>收入下降13.3%至$15.6 B，比共识低约3.2亿美元，因为流媒体并没有像预期那样减轻公园的损失。相比之下，盈利指标超出了预期。</blockquote></p><p> EPS excluding certain items rose 32% to $0.79, however. (As reported, EPS from continuing operations rose to $0.50 from $0.26.)</p><p><blockquote>然而，不包括某些项目的每股收益增长32%，至0.79美元。（据报道，持续经营业务的每股收益从0.26美元升至0.50美元。）</blockquote></p><p> But Disney Plus subscribers hit 103.6M. That's roughly in line with investor expectations though analysts were looking for a figure closer to 109M.</p><p><blockquote>但Disney Plus用户达到1.036亿。这大致符合投资者的预期，尽管分析师预计这一数字接近1.09亿。</blockquote></p><p> Revenue by segment: Disney Media and Entertainment Distribution, $12.4B (up 1%); Disney Parks, Experiences and Products, $3.17B (down 44%).</p><p><blockquote>按部门划分的收入：迪士尼媒体和娱乐发行，$12.4 B（增长1%）；迪士尼乐园、体验和产品，31.7亿美元（下降44%）。</blockquote></p><p> Operating income by segment: Disney Media and Entertainment Distribution, $2.87B (up 74%); Parks, Experiences and Products, -$406M (down from $756M a year ago).</p><p><blockquote>按部门划分的营业收入：迪士尼媒体和娱乐发行，$2.87 B（增长74%）；公园、体验和产品——4.06亿美元（低于一年前的7.56亿美元）。</blockquote></p><p> “We’re pleased to see more encouraging signs of recovery across our businesses, and we remain focused on ramping up our operations while also fueling long-term growth for the Company,” says CEO Bob Chapek. “This is clearly reflected in the reopening of our theme parks and resorts, increased production at our studios, the continued success of our streaming services, and the expansion of our unrivaled portfolio of multiyear sports rights deals for ESPN and ESPN Plus.”</p><p><blockquote>首席执行官鲍勃·查佩克(Bob Chapek)表示：“我们很高兴看到我们的业务出现更多令人鼓舞的复苏迹象，我们仍然专注于扩大运营，同时推动公司的长期增长。”“这清楚地反映在我们的主题公园和度假村的重新开放、我们工作室的产量增加、我们流媒体服务的持续成功以及我们无与伦比的ESPN和ESPN Plus多年体育转播权交易组合的扩大上。”</blockquote></p><p> Cash from continuing operations fell 56% to $1.39B, and free cash flow slipped 67% to $623M.</p><p><blockquote>持续经营现金下降56%至$1.39 B，自由现金流下滑67%至$6.23亿。</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>Disney slips over 3% as quarter's streaming subs fail to rise to pandemic occasion<blockquote>由于本季度流媒体订阅量未能跟上大流行的步伐，迪士尼股价下跌超过3%</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\">\nDisney slips over 3% as quarter's streaming subs fail to rise to pandemic occasion<blockquote>由于本季度流媒体订阅量未能跟上大流行的步伐，迪士尼股价下跌超过3%</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\">2021-05-14 17:51</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(May 14)&nbsp;Walt Disney&nbsp;is&nbsp;3.38% lower&nbsp;on its&nbsp;fiscal second-quarter earnings report, where revenues fell worse than expected and itshighly watched Disney Plus subscriber numbers fell short of expectations.</p><p><blockquote>（5月14日）华特迪斯尼公布第二财季收益报告，股价下跌3.38%，该报告的收入降幅低于预期，备受关注的迪斯尼加用户数量也低于预期。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/83fcfefdaaf6cf9a01e3bc834d1f8a64\" tg-width=\"769\" tg-height=\"564\"></p><p><blockquote></blockquote></p><p> Revenues fell 13.3% to $15.6B, some $320M short of consensus, as streaming didn't mitigate parks losses as much as expected. And profitability measures by contrast came in ahead of expectations.</p><p><blockquote>收入下降13.3%至$15.6 B，比共识低约3.2亿美元，因为流媒体并没有像预期那样减轻公园的损失。相比之下，盈利指标超出了预期。</blockquote></p><p> EPS excluding certain items rose 32% to $0.79, however. (As reported, EPS from continuing operations rose to $0.50 from $0.26.)</p><p><blockquote>然而，不包括某些项目的每股收益增长32%，至0.79美元。（据报道，持续经营业务的每股收益从0.26美元升至0.50美元。）</blockquote></p><p> But Disney Plus subscribers hit 103.6M. That's roughly in line with investor expectations though analysts were looking for a figure closer to 109M.</p><p><blockquote>但Disney Plus用户达到1.036亿。这大致符合投资者的预期，尽管分析师预计这一数字接近1.09亿。</blockquote></p><p> Revenue by segment: Disney Media and Entertainment Distribution, $12.4B (up 1%); Disney Parks, Experiences and Products, $3.17B (down 44%).</p><p><blockquote>按部门划分的收入：迪士尼媒体和娱乐发行，$12.4 B（增长1%）；迪士尼乐园、体验和产品，31.7亿美元（下降44%）。</blockquote></p><p> Operating income by segment: Disney Media and Entertainment Distribution, $2.87B (up 74%); Parks, Experiences and Products, -$406M (down from $756M a year ago).</p><p><blockquote>按部门划分的营业收入：迪士尼媒体和娱乐发行，$2.87 B（增长74%）；公园、体验和产品——4.06亿美元（低于一年前的7.56亿美元）。</blockquote></p><p> “We’re pleased to see more encouraging signs of recovery across our businesses, and we remain focused on ramping up our operations while also fueling long-term growth for the Company,” says CEO Bob Chapek. “This is clearly reflected in the reopening of our theme parks and resorts, increased production at our studios, the continued success of our streaming services, and the expansion of our unrivaled portfolio of multiyear sports rights deals for ESPN and ESPN Plus.”</p><p><blockquote>首席执行官鲍勃·查佩克(Bob Chapek)表示：“我们很高兴看到我们的业务出现更多令人鼓舞的复苏迹象，我们仍然专注于扩大运营，同时推动公司的长期增长。”“这清楚地反映在我们的主题公园和度假村的重新开放、我们工作室的产量增加、我们流媒体服务的持续成功以及我们无与伦比的ESPN和ESPN Plus多年体育转播权交易组合的扩大上。”</blockquote></p><p> Cash from continuing operations fell 56% to $1.39B, and free cash flow slipped 67% to $623M.</p><p><blockquote>持续经营现金下降56%至$1.39 B，自由现金流下滑67%至$6.23亿。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DIS":"迪士尼"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1192168156","content_text":"(May 14) Walt Disney is 3.38% lower on its fiscal second-quarter earnings report, where revenues fell worse than expected and itshighly watched Disney Plus subscriber numbers fell short of expectations.\n\nRevenues fell 13.3% to $15.6B, some $320M short of consensus, as streaming didn't mitigate parks losses as much as expected. And profitability measures by contrast came in ahead of expectations.\nEPS excluding certain items rose 32% to $0.79, however. (As reported, EPS from continuing operations rose to $0.50 from $0.26.)\nBut Disney Plus subscribers hit 103.6M. That's roughly in line with investor expectations though analysts were looking for a figure closer to 109M.\nRevenue by segment: Disney Media and Entertainment Distribution, $12.4B (up 1%); Disney Parks, Experiences and Products, $3.17B (down 44%).\nOperating income by segment: Disney Media and Entertainment Distribution, $2.87B (up 74%); Parks, Experiences and Products, -$406M (down from $756M a year ago).\n“We’re pleased to see more encouraging signs of recovery across our businesses, and we remain focused on ramping up our operations while also fueling long-term growth for the Company,” says CEO Bob Chapek. “This is clearly reflected in the reopening of our theme parks and resorts, increased production at our studios, the continued success of our streaming services, and the expansion of our unrivaled portfolio of multiyear sports rights deals for ESPN and ESPN Plus.”\nCash from continuing operations fell 56% to $1.39B, and free cash flow slipped 67% to $623M.","news_type":1,"symbols_score_info":{"DIS":0.9}},"isVote":1,"tweetType":1,"viewCount":548,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":193422664,"gmtCreate":1620812343858,"gmtModify":1631891725241,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575346220147121","idStr":"3575346220147121"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/193422664","repostId":"1191266408","repostType":4,"repost":{"id":"1191266408","kind":"news","pubTimestamp":1620812300,"share":"https://www.laohu8.com/m/news/1191266408?lang=zh_CN&edition=full","pubTime":"2021-05-12 17:38","market":"sg","language":"en","title":"Condo, HDB rents climb again in April with 1.3% rise: SRX<blockquote>SRX：4月份公寓、组屋租金再次攀升，上涨1.3%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1191266408","media":"The Straits Times","summary":"[SINGAPORE] Rents for condominium units and Housing Board flats both increased by 1.3 per cent in Ap","content":"<p><div> [SINGAPORE] Rents for condominium units and Housing Board flats both increased by 1.3 per cent in April from the previous month, although the number of leasings dipped. As at last month, condo rents ...</p><p><blockquote><div>[新加坡]尽管租赁数量有所下降，但4月份共管公寓和住房委员会公寓的租金均较上月上涨1.3%。截至上个月，公寓租金...</div></blockquote></p><p>  <a href=\"https://www.businesstimes.com.sg/real-estate/condo-hdb-rents-climb-again-in-april-with-13-rise-srx\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.businesstimes.com.sg/real-estate/condo-hdb-rents-climb-again-in-april-with-13-rise-srx\">网页连接</a></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>Condo, HDB rents climb again in April with 1.3% rise: SRX<blockquote>SRX：4月份公寓、组屋租金再次攀升，上涨1.3%</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\">\nCondo, HDB rents climb again in April with 1.3% rise: SRX<blockquote>SRX：4月份公寓、组屋租金再次攀升，上涨1.3%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Straits Times</strong><span class=\"h-time small\">2021-05-12 17:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> [SINGAPORE] Rents for condominium units and Housing Board flats both increased by 1.3 per cent in April from the previous month, although the number of leasings dipped. As at last month, condo rents ...</p><p><blockquote><div>[新加坡]尽管租赁数量有所下降，但4月份共管公寓和住房委员会公寓的租金均较上月上涨1.3%。截至上个月，公寓租金...</div></blockquote></p><p>  <a href=\"https://www.businesstimes.com.sg/real-estate/condo-hdb-rents-climb-again-in-april-with-13-rise-srx\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.businesstimes.com.sg/real-estate/condo-hdb-rents-climb-again-in-april-with-13-rise-srx\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.businesstimes.com.sg/real-estate/condo-hdb-rents-climb-again-in-april-with-13-rise-srx\">The Straits Times</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":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://www.businesstimes.com.sg/real-estate/condo-hdb-rents-climb-again-in-april-with-13-rise-srx","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191266408","content_text":"[SINGAPORE] Rents for condominium units and Housing Board flats both increased by 1.3 per cent in April from the previous month, although the number of leasings dipped.\nAs at last month, condo rents have risen for four consecutive months, while HDB rents rose for 10 straight months, according to flash data from real estate portal SRX released on Wednesday.\nCondo rents are up 5.2 per cent in April from a year ago, although they are still down 11.9 per cent from their peak in January 2013.\nHDB rents, which are 5.6 per cent higher than a year ago, have hit their highest since July 2016, although they are still 10 per cent down from their peak in August 2013.\nRents in non-mature estates rose by 2 per cent month on month, while those in mature estates edged up by 0.6 per cent. Rents also increased across all room types.\nRental volume for condo apartments dropped by 3.1 per cent in April to an estimated 5,100 units from 5,262 units the month before.\nHowever, rental volumes are 51 per cent higher compared with April last year, when Singapore was in its circuit breaker period. Discounting most of the Covid-19 effect, the number of condo leasings are 13.5 per cent higher than the five-year average for the month of April.\nHDB rental volume in April also saw a drop from March, down 8.8 per cent to an estimated 1,847 flats from 2,026 flats the month before.\nRental volumes are 33.9 per cent higher compared with April last year although they are 6.1 per cent lower than the five-year average volume for the month of April.\nChristine Sun, OrangeTee & Tie's senior vice-president of research and analytics, said rents have been rising as demand for rental units appear to be outstripping supply.\n\"Housing vacancy is low and supply of newly completed homes is limited. Many locals have been renting units in recent months, including HDB upgraders who have sold their flats recently to take advantage of the rapidly rising HDB resale prices,\" said Ms Sun.\nThese HDB upgraders may then rent a unit in the interim while they look for their next permanent home, she said.\nAlthough Covid-19 border restrictions are still largely in place, ERA Realty head of research and consultancy Nicholas Mak said the arrival of some foreigners, such as students, professionals and their dependents, may have caused rental prices to climb.\nHuttons Asia director of research Lee Sze Teck noted that employers in some industries such as technology and manufacturing are hiring again, which has helped to boost condo rental in April - usually a quiet month.\n\"Early economic indicators are pointing to a stronger-than-expected gross domestic product growth for this year,\" he said.","news_type":1,"symbols_score_info":{"STI.SI":0.9}},"isVote":1,"tweetType":1,"viewCount":435,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190165854,"gmtCreate":1620606652578,"gmtModify":1631891725244,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575346220147121","idStr":"3575346220147121"},"themes":[],"htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/190165854","repostId":"2134686060","repostType":4,"isVote":1,"tweetType":1,"viewCount":667,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190162659,"gmtCreate":1620606612571,"gmtModify":1631891725248,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575346220147121","idStr":"3575346220147121"},"themes":[],"htmlText":"Pls like and comment&nbsp;","listText":"Pls like and comment&nbsp;","text":"Pls like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/190162659","repostId":"2134686276","repostType":4,"isVote":1,"tweetType":1,"viewCount":558,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":102775959,"gmtCreate":1620257338371,"gmtModify":1631891725250,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575346220147121","idStr":"3575346220147121"},"themes":[],"htmlText":"Pls comment thanks","listText":"Pls comment thanks","text":"Pls comment thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/102775959","repostId":"1131387668","repostType":4,"repost":{"id":"1131387668","kind":"news","pubTimestamp":1620228331,"share":"https://www.laohu8.com/m/news/1131387668?lang=zh_CN&edition=full","pubTime":"2021-05-05 23:25","market":"us","language":"en","title":"This COVID-19 Vaccine Stock Quietly Soared 75% In April: Is There More Upside Ahead?<blockquote>这只COVID-19疫苗股在4月份悄然飙升75%：未来还有更多上涨空间吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1131387668","media":"benzinga","summary":"Shares ofBioNTech SE, which partnered withPfizer Inc. in successfully developing a vaccine against t","content":"<p><div> Shares ofBioNTech SE, which partnered withPfizer Inc. in successfully developing a vaccine against the coronavirus, have been gaining ground. BioNTech's Price Action:BioNTech and its partner ...</p><p><blockquote><div>BioNTech SE与辉瑞公司合作成功开发了针对冠状病毒的疫苗，其股价一直在上涨。BioNTech的价格走势：BioNTech及其合作伙伴...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/general/biotech/21/05/20918917/this-covid-19-vaccine-stock-quietly-soared-75-in-april-is-there-more-upside-ahead\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/general/biotech/21/05/20918917/this-covid-19-vaccine-stock-quietly-soared-75-in-april-is-there-more-upside-ahead\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","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>This COVID-19 Vaccine Stock Quietly Soared 75% In April: Is There More Upside Ahead?<blockquote>这只COVID-19疫苗股在4月份悄然飙升75%：未来还有更多上涨空间吗？</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\">\nThis COVID-19 Vaccine Stock Quietly Soared 75% In April: Is There More Upside Ahead?<blockquote>这只COVID-19疫苗股在4月份悄然飙升75%：未来还有更多上涨空间吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">benzinga</strong><span class=\"h-time small\">2021-05-05 23:25</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> Shares ofBioNTech SE, which partnered withPfizer Inc. in successfully developing a vaccine against the coronavirus, have been gaining ground. BioNTech's Price Action:BioNTech and its partner ...</p><p><blockquote><div>BioNTech SE与辉瑞公司合作成功开发了针对冠状病毒的疫苗，其股价一直在上涨。BioNTech的价格走势：BioNTech及其合作伙伴...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/general/biotech/21/05/20918917/this-covid-19-vaccine-stock-quietly-soared-75-in-april-is-there-more-upside-ahead\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/general/biotech/21/05/20918917/this-covid-19-vaccine-stock-quietly-soared-75-in-april-is-there-more-upside-ahead\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/general/biotech/21/05/20918917/this-covid-19-vaccine-stock-quietly-soared-75-in-april-is-there-more-upside-ahead\">benzinga</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":{"BNTX":"BioNTech SE"},"source_url":"https://www.benzinga.com/general/biotech/21/05/20918917/this-covid-19-vaccine-stock-quietly-soared-75-in-april-is-there-more-upside-ahead","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131387668","content_text":"Shares ofBioNTech SE, which partnered withPfizer Inc. in successfully developing a vaccine against the coronavirus, have been gaining ground.\nBioNTech's Price Action:BioNTech and its partner Pfizerreceived in mid-Decemberauthorization for emergency use of the BNT162b2 mRNA vaccine against the novel coronavirus that causes COVID-19.\nBioNTech's shares, which rallied to a high of $131 ahead of the FDA decision, gave back part of the gains in a ‘buy-the-rumor, sell-the-news' move. The stock ended 2020 at $81.52, about 38% off the intraday high for the year.\nThe German vaccine maker's stock picked up momentum early in 2021, breaching the $100 psychological resistance level on Jan. 8 and trading in a $100-$120 range until early March.\nThe marketwide selloff in March did not spare BioNTech, with the stock dropping below $100 for a few sessions before climbing back again. The stock was locked in a lackluster phase until the end of March.\nCome April, the trend began to change. In the very first session of April, the stock rose over 4% and moved steadily higher through the month. In April alone, the stock added 72.4%.\nTo put things in perspective, if an investor had invested $1,000 in BioNTech shares at the end of March, their investment would now be worth $1,909.46 (using the intraday high of $207.55 hit on Monday). This would mean nearly doubling the investment in a span of a month.\nWhat's Behind The BioNTech Rally:The stock has been supported by the intermittent news flow regarding the company's vaccine.\nIn late March, the companies reported positive top-line results from a study evaluating the vaccine in adolescents.\nOn April 1, BioNTech and Pfizer reported data on BNT162b2 following six months of follow-up that confirmed its efficacy and safety.\nThe companies announced April 9 a request to the FDA to authorize expanded use of the vaccine in adolescents ages 12-15.\nThe FDA'sdecisionto temporarily pause the use ofJohnson & Johnson'sJNJ 0.2%vaccine also proved positive for BioNTech, which added about 7% on April 13 when the pause was announced.\nIn mid-April, the companies announced an agreement with the European Union to supply 100 million doses of BNT162b2, which is named Comirnaty in Europe, in 2021. With that, the total number of doses delivered to the EU is 600 million.\nLast week, a request was submitted to the EU to expand conditional marketing authorization to adolescents in the EU.\nWhat Lies Ahead For BioNTech Stock?BNT162b2 is expected to continue to boost BioNTech's top-line. Having delivered 200 million doses by the end of March, the company has signed orders for supplying 1.4 billion doses in 2021.\nPfizer and BioNTech plan to boost the manufacturing capacity for the vaccine to 2.5 billion doses by the end of 2021.\n\"BioNTech and Pfizer will be the standout leader in COVID-19 vaccination globally, with demand increasing for the 2.5Bn doses they are targeting to manufacture in 2021,\" SVB Leerink analyst Daina Graybosch said in a note.\nWith the second wave of the COVID-19 pandemic now sweeping across several nations, the companies have a lucrative opportunity. The companies have also proved the efficacy of the vaccine against variants.\nOnce the pandemic phase passes, the vaccine has scope for use in endemic setting.\nMore importantly, BioNTech is not a one-trick pony. The company has a broad oncology pipeline consisting of 13 product candidates.\nWeighing in all the opportunities, further upside in the stock cannot be ruled out.\nBNTX Price Action:At last check, BioNTech shares were rising 8.2% to $191.38.","news_type":1,"symbols_score_info":{"BNTX":0.9}},"isVote":1,"tweetType":1,"viewCount":563,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":102772132,"gmtCreate":1620257298526,"gmtModify":1631891725252,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575346220147121","idStr":"3575346220147121"},"themes":[],"htmlText":"Oh man","listText":"Oh man","text":"Oh man","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/102772132","repostId":"1148686352","repostType":4,"repost":{"id":"1148686352","kind":"news","pubTimestamp":1620224535,"share":"https://www.laohu8.com/m/news/1148686352?lang=zh_CN&edition=full","pubTime":"2021-05-05 22:22","market":"us","language":"en","title":"This Day In Market History: Panic Of 1893 Crashes Stock Market<blockquote>市场历史上的这一天：1893年的恐慌导致股市崩盘</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1148686352","media":"benzinga","summary":"What Happened?On this day in 1893, U.S. stocks suffered their worst intraday loss in history at the ","content":"<p><div> What Happened?On this day in 1893, U.S. stocks suffered their worst intraday loss in history at the time. Where The Market Was:The Dow finished the day at 30.02. What Else Was Going On In The World?In...</p><p><blockquote><div>怎么回事？1893年的这一天，美股遭遇了当时历史上最严重的盘中跌幅。市场位置：道琼斯指数当天收于30.02点。世界上还发生了什么？在……</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/general/education/21/05/20964728/this-day-in-market-history-panic-of-1893-crashes-stock-market\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/general/education/21/05/20964728/this-day-in-market-history-panic-of-1893-crashes-stock-market\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","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>This Day In Market History: Panic Of 1893 Crashes Stock Market<blockquote>市场历史上的这一天：1893年的恐慌导致股市崩盘</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\">\nThis Day In Market History: Panic Of 1893 Crashes Stock Market<blockquote>市场历史上的这一天：1893年的恐慌导致股市崩盘</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">benzinga</strong><span class=\"h-time small\">2021-05-05 22:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> What Happened?On this day in 1893, U.S. stocks suffered their worst intraday loss in history at the time. Where The Market Was:The Dow finished the day at 30.02. What Else Was Going On In The World?In...</p><p><blockquote><div>怎么回事？1893年的这一天，美股遭遇了当时历史上最严重的盘中跌幅。市场位置：道琼斯指数当天收于30.02点。世界上还发生了什么？在……</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/general/education/21/05/20964728/this-day-in-market-history-panic-of-1893-crashes-stock-market\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/general/education/21/05/20964728/this-day-in-market-history-panic-of-1893-crashes-stock-market\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/general/education/21/05/20964728/this-day-in-market-history-panic-of-1893-crashes-stock-market\">benzinga</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.benzinga.com/general/education/21/05/20964728/this-day-in-market-history-panic-of-1893-crashes-stock-market","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148686352","content_text":"What Happened?On this day in 1893, U.S. stocks suffered their worst intraday loss in history at the time.\nWhere The Market Was:The Dow finished the day at 30.02.\nWhat Else Was Going On In The World?In 1893, Thomas Edison completed the world’s first movie studio in West Orange, New Jersey. Lizzie Borden was acquitted of the ax murders of her father and stepmother. A fresh, one-pound beef steak cost 10 cents.\nPanic Of 1893:On May 5, 1893, the Dow Jones Index dropped more than 24% from 39.90 to 30.02. It would mark the worst intraday sell-off in U.S. history at the time, a record that would stand until 1929.\nThe Panic of 1893 was triggered in part by falling gold reserves in the U.S. Treasury. At the time, the U.S. was on the gold standard, meaning U.S. dollars could be redeemed for physical gold. When Treasury gold reserves dropped from $190 million in 1890 to $100 million by 1893, Americans grew concerned that the Treasury might run out of gold and began withdrawing bank notes and converting them to gold, placing extreme strain on the U.S. banking industry and credit markets.\nThe May 5 sell-off was triggered in part by the bankruptcy of Nation Cordage the day before.General Electric CompanyGE 0.34%shares dropped 28% on the day from $80 to $58.\nFortunately for investors, the Panic of 1893 didn’t last for long. By the end of the day, the market nearly completely recovered its losses. GE, for example, closed the session at $78.50.\nThe Panic of 1893 would ravage the U.S. economy, triggering a severe four-year depression. Roughly 14,000 U.S. businesses closed, and unemployment rose to 20%. The event would mark the worst economic downturn in U.S. history until the Great Depression began in 1929.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":751,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":102535236,"gmtCreate":1620223332925,"gmtModify":1631891725256,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575346220147121","idStr":"3575346220147121"},"themes":[],"htmlText":"Please like and comment","listText":"Please like and comment","text":"Please like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/102535236","repostId":"2132510807","repostType":4,"isVote":1,"tweetType":1,"viewCount":531,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108698445,"gmtCreate":1620016278387,"gmtModify":1631891725263,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575346220147121","idStr":"3575346220147121"},"themes":[],"htmlText":"Comment pls","listText":"Comment pls","text":"Comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/108698445","repostId":"1146117077","repostType":4,"isVote":1,"tweetType":1,"viewCount":509,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":101415494,"gmtCreate":1619930816318,"gmtModify":1631893896150,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575346220147121","authorIdStr":"3575346220147121"},"themes":[],"htmlText":"Please like and comment&nbsp;","listText":"Please like and comment&nbsp;","text":"Please like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":7,"repostSize":0,"link":"https://laohu8.com/post/101415494","repostId":"1103106179","repostType":4,"isVote":1,"tweetType":1,"viewCount":203,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":343474288,"gmtCreate":1617753073744,"gmtModify":1634296767489,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575346220147121","authorIdStr":"3575346220147121"},"themes":[],"htmlText":"Please like and comment thanks","listText":"Please like and comment thanks","text":"Please like and comment thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/343474288","repostId":"1108754268","repostType":4,"isVote":1,"tweetType":1,"viewCount":624,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":363873065,"gmtCreate":1614129134357,"gmtModify":1634551073647,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575346220147121","authorIdStr":"3575346220147121"},"themes":[],"htmlText":"Indeed so","listText":"Indeed so","text":"Indeed so","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/363873065","repostId":"1198320495","repostType":4,"isVote":1,"tweetType":1,"viewCount":587,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117301221,"gmtCreate":1623115552563,"gmtModify":1631890348094,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575346220147121","authorIdStr":"3575346220147121"},"themes":[],"htmlText":"Please like and comment&nbsp;","listText":"Please like and comment&nbsp;","text":"Please like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/117301221","repostId":"1144151885","repostType":4,"isVote":1,"tweetType":1,"viewCount":2265,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":371573397,"gmtCreate":1618963259219,"gmtModify":1634289621193,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575346220147121","authorIdStr":"3575346220147121"},"themes":[],"htmlText":"Please like and comment&nbsp;","listText":"Please like and comment&nbsp;","text":"Please like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/371573397","repostId":"2129289138","repostType":4,"isVote":1,"tweetType":1,"viewCount":244,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":356515977,"gmtCreate":1616794318699,"gmtModify":1634523989838,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575346220147121","authorIdStr":"3575346220147121"},"themes":[],"htmlText":"Pls help like and comment&nbsp;","listText":"Pls help like and comment&nbsp;","text":"Pls help like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/356515977","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>二零一五年至二零二五年（估计）中国在线内容市场规模（以收入计）</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>二零一五年至二零二五年（估计）中国在线内容市场规模（以收入计）</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":351,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":325918557,"gmtCreate":1615856924179,"gmtModify":1703494022247,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575346220147121","authorIdStr":"3575346220147121"},"themes":[],"htmlText":"Please like and comment&nbsp;","listText":"Please like and comment&nbsp;","text":"Please like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/325918557","repostId":"1135565737","repostType":4,"repost":{"id":"1135565737","kind":"news","pubTimestamp":1615856656,"share":"https://www.laohu8.com/m/news/1135565737?lang=zh_CN&edition=full","pubTime":"2021-03-16 09:04","market":"fut","language":"en","title":"Americans ready to pour $40 billion into bitcoin and the stock market as stimulus checks arrive: survey<blockquote>随着刺激支票的到来，美国人准备向比特币和股市投入400亿美元：调查</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1135565737","media":"MarketWatch","summary":"Bitcoin more popular than stocks among stimulus recipients: Mizuho\nAnother round of stimulus checks ","content":"<p>Bitcoin more popular than stocks among stimulus recipients: Mizuho</p><p><blockquote>瑞穗：比特币在刺激接受者中比股票更受欢迎</blockquote></p><p> Another round of stimulus checks could provide a shot in the arm for stocks and, especially, bitcoin, according to a survey released Monday by Mizuho Securities.</p><p><blockquote>瑞穗证券周一发布的一项调查显示，另一轮刺激检查可能会为股市，尤其是比特币注入一剂强心针。</blockquote></p><p> The poll of 235 individuals who expect to receive checks courtesy of the latest round of COVID-19 relief signed into law by President Joe Biden found that two out of five recipients plan to invest at least some part of the proceeds into bitcoin and stocks. Based on the responses, around 10% of the total gross payments, or around $40 billion of the $380 billion in direct checks, could be allocated to the world’s most popular digital asset and stock purchases.</p><p><blockquote>对235名希望收到乔·拜登总统签署成为法律的最新一轮COVID-19救济支票的个人进行的民意调查发现，五分之二的接受者计划将至少部分收益投资于比特币和股票。根据这些回复，总支付额的约10%，即3800亿美元直接支票中的约400亿美元，可以分配给世界上最受欢迎的数字资产和股票购买。</blockquote></p><p> That’s in keeping with findings from other surveys and with a narrative that’s accompanied a surge in individual-investor activity over the course of the COVID-19 pandemic. Analysts and economists have speculated that boredom induced by the lockdowns coupled with earlier stimulus payments and a lack of activities to spend them on have sparked a surge in the opening of online brokerage accounts as well as interest in so-called meme stocks like GameStop Corp.&nbsp;and AMC Entertainment Holdings Inc..</p><p><blockquote>这与其他调查的结果以及COVID-19大流行期间个人投资者活动激增的叙述一致。分析师和经济学家推测，封锁引发的无聊，加上早期的刺激付款以及缺乏消费活动，引发了在线经纪账户开户量的激增，以及对游戏驿站等所谓模因股票的兴趣。和AMC院线控股公司。</blockquote></p><p> When it comes to the current round of payments, a Deutsche Bank survey late last month also found investors ready to use the money for trading. In fact, that poll found investors even more eager to push money into the market, estimating approximately $170 billion in potential stock-market inflows out of a then-estimated $465 billion in direct payments.</p><p><blockquote>谈到本轮付款，德意志银行上月底的一项调查也发现，投资者准备将这笔钱用于交易。事实上，该调查发现投资者更加渴望将资金投入市场，估计当时估计的4650亿美元直接支付中，约有1700亿美元的潜在股市流入。</blockquote></p><p> Drilling down, the Mizuho survey found around 20% of check recipients expected to allocate as much as 20% of their checks to bitcoin and/or stocks, while 13% expected to allocate 20% to 80%, and 2% expected to put 80% or more into the markets.</p><p><blockquote>瑞穗的调查发现，大约20%的支票接受者预计将其支票的20%分配给比特币和/或股票，而13%的人预计将分配20%至80%，2%的人预计将80%或更多进入市场。</blockquote></p><p> And between bitcoin and equities, the the cryptocurrency was by far the more popular choice.</p><p><blockquote>在比特币和股票之间，加密货币是迄今为止更受欢迎的选择。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/67269d38a1a6010f21b674acefaa709d\" tg-width=\"1260\" tg-height=\"692\"></p><p><blockquote></blockquote></p><p> “Bitcoin is the preferred investment choice among check recipients. It comprises nearly 60% of the incremental spend, which may imply $25 billion of incremental spend on bitcoin from stimulus checks,” wrote Mizuho analysts Dan Dolev and Ryan Coyne, in a Monday note (see chart above). “This represents 2-3% of Bitcoin’s current$1.1 trillion market cap.”</p><p><blockquote>瑞穗分析师Dan Dolev和Ryan Coyne在周一的一份报告中写道：“比特币是支票接受者的首选投资选择。它占增量支出的近60%，这可能意味着刺激支票在比特币上的增量支出为250亿美元。”笔记（见上图）。“这占比特币目前1.1万亿美元市值的2-3%。”</blockquote></p><p> Some Americans might already have received their money. The earliest batches of payments, coming in direct deposits, were due to hit accounts over the weekend. Paper checks and preloaded debit cards will start arriving in the coming weeks, according to IRS and Treasury Department officials. The IRS said it would not load the third round of payments on debit cards a person received in the first two rounds.</p><p><blockquote>一些美国人可能已经收到了他们的钱。最早一批直接存款的付款将于周末存入账户。据美国国税局和财政部官员称，纸质支票和预装借记卡将在未来几周内开始抵达。美国国税局表示，不会将第三轮付款加载到一个人在前两轮收到的借记卡上。</blockquote></p><p> It all comes as bitcoin exhibits its trademark volatility,pulling back&nbsp;Monday after surging past the $60,000 milestone for the first time over the weekend. In recent dealings, bitcoin&nbsp;was down 6% at $56,537.</p><p><blockquote>这一切发生之际，比特币表现出了标志性的波动性，在周末首次突破60,000美元大关后，周一有所回落。在最近的交易中，比特币股价下跌6%，至56,537美元。</blockquote></p><p> Stocks, meanwhile, ended a choppy sessionmodestly higher, building on record finishes for the Dow Jones Industrial Average,S&amp;P 500,and the small-cap Russell 2000&nbsp;on Friday. Investors continue to monitor bond yields. The yield on the 10-year note&nbsp;has risen for six straight weeks, sparking a rotation away from previously highflying large-cap growth stocks toward equities more sensitive to the economic cycle.</p><p><blockquote>与此同时，股市在周五道琼斯工业平均指数、标普500和小盘股罗素2000指数创纪录的收盘基础上小幅走高。投资者继续关注债券收益率。10年期国债收益率已连续六周上涨，引发市场从此前飙升的大盘成长型股票转向对经济周期更敏感的股票。</blockquote></p><p></p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Americans ready to pour $40 billion into bitcoin and the stock market as stimulus checks arrive: survey<blockquote>随着刺激支票的到来，美国人准备向比特币和股市投入400亿美元：调查</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\">\nAmericans ready to pour $40 billion into bitcoin and the stock market as stimulus checks arrive: survey<blockquote>随着刺激支票的到来，美国人准备向比特币和股市投入400亿美元：调查</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-03-16 09:04</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Bitcoin more popular than stocks among stimulus recipients: Mizuho</p><p><blockquote>瑞穗：比特币在刺激接受者中比股票更受欢迎</blockquote></p><p> Another round of stimulus checks could provide a shot in the arm for stocks and, especially, bitcoin, according to a survey released Monday by Mizuho Securities.</p><p><blockquote>瑞穗证券周一发布的一项调查显示，另一轮刺激检查可能会为股市，尤其是比特币注入一剂强心针。</blockquote></p><p> The poll of 235 individuals who expect to receive checks courtesy of the latest round of COVID-19 relief signed into law by President Joe Biden found that two out of five recipients plan to invest at least some part of the proceeds into bitcoin and stocks. Based on the responses, around 10% of the total gross payments, or around $40 billion of the $380 billion in direct checks, could be allocated to the world’s most popular digital asset and stock purchases.</p><p><blockquote>对235名希望收到乔·拜登总统签署成为法律的最新一轮COVID-19救济支票的个人进行的民意调查发现，五分之二的接受者计划将至少部分收益投资于比特币和股票。根据这些回复，总支付额的约10%，即3800亿美元直接支票中的约400亿美元，可以分配给世界上最受欢迎的数字资产和股票购买。</blockquote></p><p> That’s in keeping with findings from other surveys and with a narrative that’s accompanied a surge in individual-investor activity over the course of the COVID-19 pandemic. Analysts and economists have speculated that boredom induced by the lockdowns coupled with earlier stimulus payments and a lack of activities to spend them on have sparked a surge in the opening of online brokerage accounts as well as interest in so-called meme stocks like GameStop Corp.&nbsp;and AMC Entertainment Holdings Inc..</p><p><blockquote>这与其他调查的结果以及COVID-19大流行期间个人投资者活动激增的叙述一致。分析师和经济学家推测，封锁引发的无聊，加上早期的刺激付款以及缺乏消费活动，引发了在线经纪账户开户量的激增，以及对游戏驿站等所谓模因股票的兴趣。和AMC院线控股公司。</blockquote></p><p> When it comes to the current round of payments, a Deutsche Bank survey late last month also found investors ready to use the money for trading. In fact, that poll found investors even more eager to push money into the market, estimating approximately $170 billion in potential stock-market inflows out of a then-estimated $465 billion in direct payments.</p><p><blockquote>谈到本轮付款，德意志银行上月底的一项调查也发现，投资者准备将这笔钱用于交易。事实上，该调查发现投资者更加渴望将资金投入市场，估计当时估计的4650亿美元直接支付中，约有1700亿美元的潜在股市流入。</blockquote></p><p> Drilling down, the Mizuho survey found around 20% of check recipients expected to allocate as much as 20% of their checks to bitcoin and/or stocks, while 13% expected to allocate 20% to 80%, and 2% expected to put 80% or more into the markets.</p><p><blockquote>瑞穗的调查发现，大约20%的支票接受者预计将其支票的20%分配给比特币和/或股票，而13%的人预计将分配20%至80%，2%的人预计将80%或更多进入市场。</blockquote></p><p> And between bitcoin and equities, the the cryptocurrency was by far the more popular choice.</p><p><blockquote>在比特币和股票之间，加密货币是迄今为止更受欢迎的选择。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/67269d38a1a6010f21b674acefaa709d\" tg-width=\"1260\" tg-height=\"692\"></p><p><blockquote></blockquote></p><p> “Bitcoin is the preferred investment choice among check recipients. It comprises nearly 60% of the incremental spend, which may imply $25 billion of incremental spend on bitcoin from stimulus checks,” wrote Mizuho analysts Dan Dolev and Ryan Coyne, in a Monday note (see chart above). “This represents 2-3% of Bitcoin’s current$1.1 trillion market cap.”</p><p><blockquote>瑞穗分析师Dan Dolev和Ryan Coyne在周一的一份报告中写道：“比特币是支票接受者的首选投资选择。它占增量支出的近60%，这可能意味着刺激支票在比特币上的增量支出为250亿美元。”笔记（见上图）。“这占比特币目前1.1万亿美元市值的2-3%。”</blockquote></p><p> Some Americans might already have received their money. The earliest batches of payments, coming in direct deposits, were due to hit accounts over the weekend. Paper checks and preloaded debit cards will start arriving in the coming weeks, according to IRS and Treasury Department officials. The IRS said it would not load the third round of payments on debit cards a person received in the first two rounds.</p><p><blockquote>一些美国人可能已经收到了他们的钱。最早一批直接存款的付款将于周末存入账户。据美国国税局和财政部官员称，纸质支票和预装借记卡将在未来几周内开始抵达。美国国税局表示，不会将第三轮付款加载到一个人在前两轮收到的借记卡上。</blockquote></p><p> It all comes as bitcoin exhibits its trademark volatility,pulling back&nbsp;Monday after surging past the $60,000 milestone for the first time over the weekend. In recent dealings, bitcoin&nbsp;was down 6% at $56,537.</p><p><blockquote>这一切发生之际，比特币表现出了标志性的波动性，在周末首次突破60,000美元大关后，周一有所回落。在最近的交易中，比特币股价下跌6%，至56,537美元。</blockquote></p><p> Stocks, meanwhile, ended a choppy sessionmodestly higher, building on record finishes for the Dow Jones Industrial Average,S&amp;P 500,and the small-cap Russell 2000&nbsp;on Friday. Investors continue to monitor bond yields. The yield on the 10-year note&nbsp;has risen for six straight weeks, sparking a rotation away from previously highflying large-cap growth stocks toward equities more sensitive to the economic cycle.</p><p><blockquote>与此同时，股市在周五道琼斯工业平均指数、标普500和小盘股罗素2000指数创纪录的收盘基础上小幅走高。投资者继续关注债券收益率。10年期国债收益率已连续六周上涨，引发市场从此前飙升的大盘成长型股票转向对经济周期更敏感的股票。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/americans-ready-to-plow-10-of-stimulus-checks-into-bitcoin-and-stocks-survey-says-11615823512?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":{"GBTC":"比特币ETF-Grayscale",".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/americans-ready-to-plow-10-of-stimulus-checks-into-bitcoin-and-stocks-survey-says-11615823512?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1135565737","content_text":"Bitcoin more popular than stocks among stimulus recipients: Mizuho\nAnother round of stimulus checks could provide a shot in the arm for stocks and, especially, bitcoin, according to a survey released Monday by Mizuho Securities.\nThe poll of 235 individuals who expect to receive checks courtesy of the latest round of COVID-19 relief signed into law by President Joe Biden found that two out of five recipients plan to invest at least some part of the proceeds into bitcoin and stocks. Based on the responses, around 10% of the total gross payments, or around $40 billion of the $380 billion in direct checks, could be allocated to the world’s most popular digital asset and stock purchases.\nThat’s in keeping with findings from other surveys and with a narrative that’s accompanied a surge in individual-investor activity over the course of the COVID-19 pandemic. Analysts and economists have speculated that boredom induced by the lockdowns coupled with earlier stimulus payments and a lack of activities to spend them on have sparked a surge in the opening of online brokerage accounts as well as interest in so-called meme stocks like GameStop Corp. and AMC Entertainment Holdings Inc..\nWhen it comes to the current round of payments, a Deutsche Bank survey late last month also found investors ready to use the money for trading. In fact, that poll found investors even more eager to push money into the market, estimating approximately $170 billion in potential stock-market inflows out of a then-estimated $465 billion in direct payments.\nDrilling down, the Mizuho survey found around 20% of check recipients expected to allocate as much as 20% of their checks to bitcoin and/or stocks, while 13% expected to allocate 20% to 80%, and 2% expected to put 80% or more into the markets.\nAnd between bitcoin and equities, the the cryptocurrency was by far the more popular choice.\n\n“Bitcoin is the preferred investment choice among check recipients. It comprises nearly 60% of the incremental spend, which may imply $25 billion of incremental spend on bitcoin from stimulus checks,” wrote Mizuho analysts Dan Dolev and Ryan Coyne, in a Monday note (see chart above). “This represents 2-3% of Bitcoin’s current$1.1 trillion market cap.”\nSome Americans might already have received their money. The earliest batches of payments, coming in direct deposits, were due to hit accounts over the weekend. Paper checks and preloaded debit cards will start arriving in the coming weeks, according to IRS and Treasury Department officials. The IRS said it would not load the third round of payments on debit cards a person received in the first two rounds.\nIt all comes as bitcoin exhibits its trademark volatility,pulling back Monday after surging past the $60,000 milestone for the first time over the weekend. In recent dealings, bitcoin was down 6% at $56,537.\nStocks, meanwhile, ended a choppy sessionmodestly higher, building on record finishes for the Dow Jones Industrial Average,S&P 500,and the small-cap Russell 2000 on Friday. Investors continue to monitor bond yields. The yield on the 10-year note has risen for six straight weeks, sparking a rotation away from previously highflying large-cap growth stocks toward equities more sensitive to the economic cycle.","news_type":1,"symbols_score_info":{".DJI":0.9,"GBTC":0.9,"BTCmain":0.9,".SPX":0.9,".IXIC":0.9,"XBTmain":0.9}},"isVote":1,"tweetType":1,"viewCount":349,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108698445,"gmtCreate":1620016278387,"gmtModify":1631891725263,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575346220147121","authorIdStr":"3575346220147121"},"themes":[],"htmlText":"Comment pls","listText":"Comment pls","text":"Comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/108698445","repostId":"1146117077","repostType":4,"isVote":1,"tweetType":1,"viewCount":509,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":341522858,"gmtCreate":1617841839574,"gmtModify":1634296228567,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575346220147121","authorIdStr":"3575346220147121"},"themes":[],"htmlText":"Please like and comment thanks","listText":"Please like and comment thanks","text":"Please like and comment thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/341522858","repostId":"1169840293","repostType":4,"isVote":1,"tweetType":1,"viewCount":338,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":326546213,"gmtCreate":1615690520632,"gmtModify":1703492108189,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575346220147121","authorIdStr":"3575346220147121"},"themes":[],"htmlText":"Please comment thanks&nbsp;","listText":"Please comment thanks&nbsp;","text":"Please comment thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/326546213","repostId":"1119607279","repostType":4,"repost":{"id":"1119607279","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":1615560514,"share":"https://www.laohu8.com/m/news/1119607279?lang=zh_CN&edition=full","pubTime":"2021-03-12 22:48","market":"us","language":"en","title":"Some “meme” stocks rose<blockquote>部分“模因”股票上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1119607279","media":"Tiger Newspress","summary":"Koss up more than 25%,Express up more than 14%,GameStop up more than 8%.","content":"<p>Koss up more than 25%,Express up more than 14%,GameStop up more than 8%.</p><p><blockquote>科斯涨超25%，运通涨超14%，游戏驿站涨超8%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/e665baba538eac8d8d828f56455a4116\" tg-width=\"412\" tg-height=\"299\" 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>Some “meme” stocks rose<blockquote>部分“模因”股票上涨</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSome “meme” stocks rose<blockquote>部分“模因”股票上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-03-12 22:48</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Koss up more than 25%,Express up more than 14%,GameStop up more than 8%.</p><p><blockquote>科斯涨超25%，运通涨超14%，游戏驿站涨超8%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/e665baba538eac8d8d828f56455a4116\" tg-width=\"412\" tg-height=\"299\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站","KOSS":"高斯电子","EXPR":"Express, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1119607279","content_text":"Koss up more than 25%,Express up more than 14%,GameStop up more than 8%.","news_type":1,"symbols_score_info":{"GME":0.9,"KOSS":0.9,"EXPR":0.9}},"isVote":1,"tweetType":1,"viewCount":400,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":321808002,"gmtCreate":1615419169706,"gmtModify":1703488726657,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575346220147121","authorIdStr":"3575346220147121"},"themes":[],"htmlText":"Pls like and comment thanks!","listText":"Pls like and comment thanks!","text":"Pls like and comment thanks!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/321808002","repostId":"1158871795","repostType":4,"repost":{"id":"1158871795","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1615401200,"share":"https://www.laohu8.com/m/news/1158871795?lang=zh_CN&edition=full","pubTime":"2021-03-11 02:33","market":"us","language":"en","title":"Roblox spikes 44% on its first day of trading<blockquote>Roblox首日交易飙升44%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1158871795","media":"老虎资讯综合","summary":"Roblox shares opened at $65 each on Wednesday, about 44% higher than the company’sreference price.Ro","content":"<p>Roblox shares opened at $65 each on Wednesday, about 44% higher than the company’sreference price.</p><p><blockquote>Roblox股价周三开盘价为每股65美元，比该公司参考价高出约44%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/f1ba476c7f20db1e462a62e6f1df9db8\" tg-width=\"1847\" tg-height=\"904\"></p><p><blockquote></blockquote></p><p>Roblox Corp.  joins the ranks of closely held companies turning to public markets to support growth. The San Mateo, Calif.-based videogame provider’s stock will begin trading March 10 on the New York Stock Exchange under the symbol RBLX. The shares are trading through a direct listing, bypassing the traditional route of an initial public offering.</p><p><blockquote>Roblox Corp.加入了少数人持股公司转向公开市场以支持增长的行列。这家总部位于加利福尼亚州圣马特奥的视频游戏提供商的股票将于3月10日在纽约证券交易所开始交易，代码为RBLX。这些股票通过直接上市进行交易，绕过了首次公开募股的传统途径。</blockquote></p><p>Roblox’s reference price was set at $45, in lieu of a formal IPO price, and is based on recent private-market transactions.</p><p><blockquote>Roblox的参考价定为45美元，而不是正式的IPO价格，并且是基于最近的私募市场交易。</blockquote></p><p>Roblox&nbsp;isn’t a traditional videogame company&nbsp;and is using a nontraditional process to potentially reach investors as the pandemic&nbsp;has driven people to spend more time and money on gameplay. Here’s what you need to know about the company and its plans for a direct listing.</p><p><blockquote>Roblox不是一家传统的视频游戏公司，由于疫情促使人们在游戏上花费更多时间和金钱，它正在使用非传统流程来吸引投资者。以下是您需要了解的有关该公司及其直接上市计划的信息。</blockquote></p><p>Roblox said in the latest update to its&nbsp;prospectus&nbsp;that it paid developers $328.7 million last year, up almost 200% from 2019. That far outpaced the company’s sales growth of 82% last year, when it booked $923.9 million in total revenue.</p><p><blockquote>Roblox在最新更新的招股说明书中表示，去年向开发者支付了3.287亿美元，比2019年增长了近200%。这远远超过了该公司去年82%的销售额增长，当时总收入为9.239亿美元。</blockquote></p><p>More than 1,250 developers earned at least $10,000 in the digital currency Robux, which can be converted to cash. Over 300 earned $100,000 or more.</p><p><blockquote>超过1,250名开发人员通过数字货币Robux赚取了至少10,000美元，这些货币可以兑换成现金。超过300人赚了10万美元或更多。</blockquote></p><p>Roblox is telling prospective shareholders to get comfortable with its hefty payouts. In its&nbsp;investor presentationlast week, the company said it plans to shell out even more to creators to incentive higher-quality content and fund bigger teams of engineers, designers, artists and producers.</p><p><blockquote>Roblox告诉潜在股东要接受其巨额派息。该公司在上周的投资者介绍中表示，计划向创作者支付更多费用，以激励更高质量的内容并资助更大的工程师、设计师、艺术家和制片人团队。</blockquote></p><p><b>What is Roblox?</b></p><p><blockquote><b>Roblox是什么？</b></blockquote></p><p>Roblox is a free online platform that features tens of millions of multiplayer games made by its own players with tools the company provides. The games range from obstacle-course challenges and iterations of capture the flag to contests based on popular characters such as Peppa Pig and Sonic the Hedgehog. Company officials have said they are interested in increasing the use of Roblox for things such as virtual concerts and meetings.</p><p><blockquote>Roblox是一个免费的在线平台，拥有数千万款由自己的玩家使用公司提供的工具制作的多人游戏。游戏范围从障碍课程挑战和夺旗游戏的迭代到基于粉红猪小妹和刺猬索尼克等受欢迎角色的比赛。公司官员表示，他们有兴趣增加Roblox在虚拟音乐会和会议等方面的使用。</blockquote></p><p><b>Who plays Roblox and how?</b></p><p><blockquote><b>谁玩Roblox，怎么玩？</b></blockquote></p><p>Roblox is accessible on computers, consoles and mobile devices. The company said it had roughly 33 million daily users last year, of whom more than half are under the age of 13. Players in Roblox appear in the form of customizable avatars.</p><p><blockquote>Roblox可在计算机、控制台和移动设备上访问。该公司表示，去年其每日用户约为3300万，其中一半以上年龄在13岁以下。Roblox中的玩家以可定制头像的形式出现。</blockquote></p><p><b>Roblox’s Covid boom</b></p><p><blockquote><b>Roblox的新冠疫情热潮</b></blockquote></p><p>Roblox has been a huge beneficiary of the Covid-19 shutdowns, which forced kids out of the classroom and away from their friends. With no school to attend and birthday parties canceled,kids turned to Roblox, where they can socialize virtually, navigating theme parks, attending concerts and playing action games while also staying in touch using its popular text chat feature.</p><p><blockquote>Roblox是Covid-19关闭的巨大受益者，关闭迫使孩子们离开教室并远离朋友。由于没有学校可上，生日聚会也被取消，孩子们转向了Roblox，在那里他们可以进行虚拟社交，浏览主题公园，参加音乐会和玩动作游戏，同时还可以使用其流行的文本聊天功能保持联系。</blockquote></p><p>Daily active users jumped 85% in 2020 to 32.6 million. The number of hours that players spent on the app more than doubled to 30.6 billion.</p><p><blockquote>2020年，日活跃用户跃升85%，达到3260万。玩家在该应用上花费的时间增加了一倍多，达到306亿小时。</blockquote></p><p>That unexpected and unprecedented growth has created some challenges around its developer community. The company has had to contend with an influx ofspammers&nbsp;and&nbsp;scammers&nbsp;who are out to take advantage of some of the millions of kids who are ready and willing to spend their parents money on Robux.</p><p><blockquote>这种意想不到的、前所未有的增长给开发者社区带来了一些挑战。该公司不得不应对垃圾邮件发送者和诈骗者的涌入，他们试图利用数百万准备好并愿意花父母的钱购买Robux的孩子中的一些人。</blockquote></p><p>In-game pop-ups lure users with the promise of free Robux if they fill out a survey, only to reroute them to other sites where there’s no Robux and even more spam. In some cases, Roblox developers unknowingly install a malicious plug-in from the game development studio, infecting their own game.</p><p><blockquote>游戏中的弹出窗口承诺如果用户填写调查就可以免费获得Robux，结果却将他们重定向到其他没有Robux甚至更多垃圾邮件的网站。在某些情况下，Roblox开发者会在不知情的情况下安装游戏开发工作室的恶意插件，感染自己的游戏。</blockquote></p><p>“Because of the popularity of our platform, we believe that we are an attractive target for these sorts of attacks,” Roblox said in its prospectus. The company said it’s investing to make sure outside parties can’t access user data and to prevent phishing, spamming and malware as much as possible.</p><p><blockquote>Roblox在招股说明书中表示：“由于我们平台的受欢迎程度，我们相信我们是此类攻击的有吸引力的目标。”该公司表示，正在投资以确保外部方无法访问用户数据，并尽可能防止网络钓鱼、垃圾邮件和恶意软件。</blockquote></p><p>Roblox’s second-biggest expense, behind developer fees, is infrastructure, privacy and safety. Those costs jumped 69% last year to $264.2 million.</p><p><blockquote>Roblox的第二大支出（仅次于开发者费用）是基础设施、隐私和安全。这些成本去年跃升69%，达到2.642亿美元。</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>Roblox spikes 44% on its first day of trading<blockquote>Roblox首日交易飙升44%</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\">\nRoblox spikes 44% on its first day of trading<blockquote>Roblox首日交易飙升44%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-03-11 02:33</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Roblox shares opened at $65 each on Wednesday, about 44% higher than the company’sreference price.</p><p><blockquote>Roblox股价周三开盘价为每股65美元，比该公司参考价高出约44%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/f1ba476c7f20db1e462a62e6f1df9db8\" tg-width=\"1847\" tg-height=\"904\"></p><p><blockquote></blockquote></p><p>Roblox Corp.  joins the ranks of closely held companies turning to public markets to support growth. The San Mateo, Calif.-based videogame provider’s stock will begin trading March 10 on the New York Stock Exchange under the symbol RBLX. The shares are trading through a direct listing, bypassing the traditional route of an initial public offering.</p><p><blockquote>Roblox Corp.加入了少数人持股公司转向公开市场以支持增长的行列。这家总部位于加利福尼亚州圣马特奥的视频游戏提供商的股票将于3月10日在纽约证券交易所开始交易，代码为RBLX。这些股票通过直接上市进行交易，绕过了首次公开募股的传统途径。</blockquote></p><p>Roblox’s reference price was set at $45, in lieu of a formal IPO price, and is based on recent private-market transactions.</p><p><blockquote>Roblox的参考价定为45美元，而不是正式的IPO价格，并且是基于最近的私募市场交易。</blockquote></p><p>Roblox&nbsp;isn’t a traditional videogame company&nbsp;and is using a nontraditional process to potentially reach investors as the pandemic&nbsp;has driven people to spend more time and money on gameplay. Here’s what you need to know about the company and its plans for a direct listing.</p><p><blockquote>Roblox不是一家传统的视频游戏公司，由于疫情促使人们在游戏上花费更多时间和金钱，它正在使用非传统流程来吸引投资者。以下是您需要了解的有关该公司及其直接上市计划的信息。</blockquote></p><p>Roblox said in the latest update to its&nbsp;prospectus&nbsp;that it paid developers $328.7 million last year, up almost 200% from 2019. That far outpaced the company’s sales growth of 82% last year, when it booked $923.9 million in total revenue.</p><p><blockquote>Roblox在最新更新的招股说明书中表示，去年向开发者支付了3.287亿美元，比2019年增长了近200%。这远远超过了该公司去年82%的销售额增长，当时总收入为9.239亿美元。</blockquote></p><p>More than 1,250 developers earned at least $10,000 in the digital currency Robux, which can be converted to cash. Over 300 earned $100,000 or more.</p><p><blockquote>超过1,250名开发人员通过数字货币Robux赚取了至少10,000美元，这些货币可以兑换成现金。超过300人赚了10万美元或更多。</blockquote></p><p>Roblox is telling prospective shareholders to get comfortable with its hefty payouts. In its&nbsp;investor presentationlast week, the company said it plans to shell out even more to creators to incentive higher-quality content and fund bigger teams of engineers, designers, artists and producers.</p><p><blockquote>Roblox告诉潜在股东要接受其巨额派息。该公司在上周的投资者介绍中表示，计划向创作者支付更多费用，以激励更高质量的内容并资助更大的工程师、设计师、艺术家和制片人团队。</blockquote></p><p><b>What is Roblox?</b></p><p><blockquote><b>Roblox是什么？</b></blockquote></p><p>Roblox is a free online platform that features tens of millions of multiplayer games made by its own players with tools the company provides. The games range from obstacle-course challenges and iterations of capture the flag to contests based on popular characters such as Peppa Pig and Sonic the Hedgehog. Company officials have said they are interested in increasing the use of Roblox for things such as virtual concerts and meetings.</p><p><blockquote>Roblox是一个免费的在线平台，拥有数千万款由自己的玩家使用公司提供的工具制作的多人游戏。游戏范围从障碍课程挑战和夺旗游戏的迭代到基于粉红猪小妹和刺猬索尼克等受欢迎角色的比赛。公司官员表示，他们有兴趣增加Roblox在虚拟音乐会和会议等方面的使用。</blockquote></p><p><b>Who plays Roblox and how?</b></p><p><blockquote><b>谁玩Roblox，怎么玩？</b></blockquote></p><p>Roblox is accessible on computers, consoles and mobile devices. The company said it had roughly 33 million daily users last year, of whom more than half are under the age of 13. Players in Roblox appear in the form of customizable avatars.</p><p><blockquote>Roblox可在计算机、控制台和移动设备上访问。该公司表示，去年其每日用户约为3300万，其中一半以上年龄在13岁以下。Roblox中的玩家以可定制头像的形式出现。</blockquote></p><p><b>Roblox’s Covid boom</b></p><p><blockquote><b>Roblox的新冠疫情热潮</b></blockquote></p><p>Roblox has been a huge beneficiary of the Covid-19 shutdowns, which forced kids out of the classroom and away from their friends. With no school to attend and birthday parties canceled,kids turned to Roblox, where they can socialize virtually, navigating theme parks, attending concerts and playing action games while also staying in touch using its popular text chat feature.</p><p><blockquote>Roblox是Covid-19关闭的巨大受益者，关闭迫使孩子们离开教室并远离朋友。由于没有学校可上，生日聚会也被取消，孩子们转向了Roblox，在那里他们可以进行虚拟社交，浏览主题公园，参加音乐会和玩动作游戏，同时还可以使用其流行的文本聊天功能保持联系。</blockquote></p><p>Daily active users jumped 85% in 2020 to 32.6 million. The number of hours that players spent on the app more than doubled to 30.6 billion.</p><p><blockquote>2020年，日活跃用户跃升85%，达到3260万。玩家在该应用上花费的时间增加了一倍多，达到306亿小时。</blockquote></p><p>That unexpected and unprecedented growth has created some challenges around its developer community. The company has had to contend with an influx ofspammers&nbsp;and&nbsp;scammers&nbsp;who are out to take advantage of some of the millions of kids who are ready and willing to spend their parents money on Robux.</p><p><blockquote>这种意想不到的、前所未有的增长给开发者社区带来了一些挑战。该公司不得不应对垃圾邮件发送者和诈骗者的涌入，他们试图利用数百万准备好并愿意花父母的钱购买Robux的孩子中的一些人。</blockquote></p><p>In-game pop-ups lure users with the promise of free Robux if they fill out a survey, only to reroute them to other sites where there’s no Robux and even more spam. In some cases, Roblox developers unknowingly install a malicious plug-in from the game development studio, infecting their own game.</p><p><blockquote>游戏中的弹出窗口承诺如果用户填写调查就可以免费获得Robux，结果却将他们重定向到其他没有Robux甚至更多垃圾邮件的网站。在某些情况下，Roblox开发者会在不知情的情况下安装游戏开发工作室的恶意插件，感染自己的游戏。</blockquote></p><p>“Because of the popularity of our platform, we believe that we are an attractive target for these sorts of attacks,” Roblox said in its prospectus. The company said it’s investing to make sure outside parties can’t access user data and to prevent phishing, spamming and malware as much as possible.</p><p><blockquote>Roblox在招股说明书中表示：“由于我们平台的受欢迎程度，我们相信我们是此类攻击的有吸引力的目标。”该公司表示，正在投资以确保外部方无法访问用户数据，并尽可能防止网络钓鱼、垃圾邮件和恶意软件。</blockquote></p><p>Roblox’s second-biggest expense, behind developer fees, is infrastructure, privacy and safety. Those costs jumped 69% last year to $264.2 million.</p><p><blockquote>Roblox的第二大支出（仅次于开发者费用）是基础设施、隐私和安全。这些成本去年跃升69%，达到2.642亿美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"RBLX":"Roblox Corporation"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158871795","content_text":"Roblox shares opened at $65 each on Wednesday, about 44% higher than the company’sreference price.Roblox Corp.  joins the ranks of closely held companies turning to public markets to support growth. The San Mateo, Calif.-based videogame provider’s stock will begin trading March 10 on the New York Stock Exchange under the symbol RBLX. The shares are trading through a direct listing, bypassing the traditional route of an initial public offering.Roblox’s reference price was set at $45, in lieu of a formal IPO price, and is based on recent private-market transactions.Roblox isn’t a traditional videogame company and is using a nontraditional process to potentially reach investors as the pandemic has driven people to spend more time and money on gameplay. Here’s what you need to know about the company and its plans for a direct listing.Roblox said in the latest update to its prospectus that it paid developers $328.7 million last year, up almost 200% from 2019. That far outpaced the company’s sales growth of 82% last year, when it booked $923.9 million in total revenue.More than 1,250 developers earned at least $10,000 in the digital currency Robux, which can be converted to cash. Over 300 earned $100,000 or more.Roblox is telling prospective shareholders to get comfortable with its hefty payouts. In its investor presentationlast week, the company said it plans to shell out even more to creators to incentive higher-quality content and fund bigger teams of engineers, designers, artists and producers.What is Roblox?Roblox is a free online platform that features tens of millions of multiplayer games made by its own players with tools the company provides. The games range from obstacle-course challenges and iterations of capture the flag to contests based on popular characters such as Peppa Pig and Sonic the Hedgehog. Company officials have said they are interested in increasing the use of Roblox for things such as virtual concerts and meetings.Who plays Roblox and how?Roblox is accessible on computers, consoles and mobile devices. The company said it had roughly 33 million daily users last year, of whom more than half are under the age of 13. Players in Roblox appear in the form of customizable avatars.Roblox’s Covid boomRoblox has been a huge beneficiary of the Covid-19 shutdowns, which forced kids out of the classroom and away from their friends. With no school to attend and birthday parties canceled,kids turned to Roblox, where they can socialize virtually, navigating theme parks, attending concerts and playing action games while also staying in touch using its popular text chat feature.Daily active users jumped 85% in 2020 to 32.6 million. The number of hours that players spent on the app more than doubled to 30.6 billion.That unexpected and unprecedented growth has created some challenges around its developer community. The company has had to contend with an influx ofspammers and scammers who are out to take advantage of some of the millions of kids who are ready and willing to spend their parents money on Robux.In-game pop-ups lure users with the promise of free Robux if they fill out a survey, only to reroute them to other sites where there’s no Robux and even more spam. In some cases, Roblox developers unknowingly install a malicious plug-in from the game development studio, infecting their own game.“Because of the popularity of our platform, we believe that we are an attractive target for these sorts of attacks,” Roblox said in its prospectus. The company said it’s investing to make sure outside parties can’t access user data and to prevent phishing, spamming and malware as much as possible.Roblox’s second-biggest expense, behind developer fees, is infrastructure, privacy and safety. Those costs jumped 69% last year to $264.2 million.","news_type":1,"symbols_score_info":{"RBLX":0.9}},"isVote":1,"tweetType":1,"viewCount":445,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":340939665,"gmtCreate":1617328528857,"gmtModify":1634521402694,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575346220147121","authorIdStr":"3575346220147121"},"themes":[],"htmlText":"Please like thanks","listText":"Please like thanks","text":"Please like thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/340939665","repostId":"1107632651","repostType":4,"isVote":1,"tweetType":1,"viewCount":302,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":112485055,"gmtCreate":1622903055977,"gmtModify":1631890348096,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575346220147121","authorIdStr":"3575346220147121"},"themes":[],"htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/112485055","repostId":"1148130971","repostType":4,"repost":{"id":"1148130971","kind":"news","pubTimestamp":1622866524,"share":"https://www.laohu8.com/m/news/1148130971?lang=zh_CN&edition=full","pubTime":"2021-06-05 12:15","market":"us","language":"en","title":"Can NIO Stock Reach $100? We Think It's A Matter Of 'When' Not 'If'<blockquote>蔚来股价能达到100美元吗？我们认为这是“何时”的问题，而不是“如果”的问题</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1148130971","media":"seekingalpha","summary":"NIO's share price has soared by more than 816% in the past year, peaking at almost $62 in early February before the growth stock sell-off in early March.We believe NIO's share price will soar beyond $160 by 2025 as global EV sales continue to ramp up with autonomous driving becoming a reality.NIO has continuously exhibited characteristics of an unsettling innovator. The brand is widely known for their breakthrough in battery swapping technology, “Power Swap”, which provides NIO owners with a fas","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>NIO's share price has soared by more than 816% in the past year, peaking at almost $62 in early February before the growth stock sell-off in early March.</li>  <li>The company's innovative approach and overseas expansion strategy, combined with the growing market sentiment on global electrification and automation are expected to boost the company's valuation.</li>  <li>We believe NIO's share price will soar beyond $160 by 2025 as global EV sales continue to ramp up with autonomous driving becoming a reality.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b31b2f189fa181e941126674e0b4c0b\" tg-width=\"1536\" tg-height=\"1024\"><span>Photo by Drew Angerer/Getty Images News via Getty Images</span></p><p><blockquote><ul><li>蔚来的股价在过去一年飙升了816%以上，在3月初的成长股抛售之前，在2月初达到了近62美元的峰值。</li><li>该公司的创新方法和海外扩张战略，加上全球电气化和自动化市场情绪日益高涨，预计将提振该公司的估值。</li><li>我们相信，随着自动驾驶成为现实，全球电动汽车销量持续增长，蔚来股价到2025年将飙升至160美元以上。</li></ul><p class=\"t-img-caption\"><span>摄影：Drew Angerer/Getty Images新闻来自Getty Images</span></p></blockquote></p><p> Despite it being a local Chinese electric vehicle (“EV”) brand that has only recently started its overseas expansion into Europe, NIO(NYSE:NIO)has already garnered significant international attention amidst avid investors within the EV sector in recent years. It has only been three short years since NIO made its first deliveries in mid-2018, yet many are already wondering whether its share price can reach similar heights as an industry leader, Tesla’s(NASDAQ:TSLA). Albeit a little farfetched given Tesla is currently trading at more than $600 per share with a market cap of more than $600 billion, we do believe NIO has promising potential to break $100 per share before 2025. Even Wall Street Analysts remain optimistic about the company’s future by assigning a&nbsp;price target of close to $60, which represents upward potential of more than 35% based on the last traded share price of $42.34 (June 1st).</p><p><blockquote>尽管蔚来（纽约证券交易所股票代码：蔚来）是一个中国本土电动汽车（“EV”）品牌，最近才开始向欧洲进行海外扩张，但近年来已经在电动汽车行业狂热投资者中获得了广泛的国际关注。距离蔚来于2018年中期首次交付仅过去了短短三年，但许多人已经想知道其股价是否能达到与行业领导者特斯拉（纳斯达克股票代码：TSLA）类似的高度。尽管考虑到特斯拉目前的股价超过每股600美元，市值超过6000亿美元，这有点牵强，但我们确实相信蔚来有潜力在2025年之前突破每股100美元。就连华尔街分析师也对该公司的未来保持乐观，他们将目标价定为接近60美元，根据上次交易股价42.34美元（6月1日）计算，该目标价有超过35%的上涨潜力。</blockquote></p><p> Founded in 2014, NIO has sold and delivered more than 100,000 vehicles in China to date. The company boasts a fleet of five emission-free, fully battery-powered models, ranging from sports cars to luxury sedans and full-size SUVs. In addition to their vehicles, NIO is also known for their significant progress achieved in innovative technology, including state-of-the-art battery solutions, artificial intelligence, and autonomous driving. The company has also recently turned their global expansion plans into reality, with the first overseas NIO store to open in Oslo, Norway in Q3 2021. We believe that reaching a share price of $100 is no longer a question of “if”, but instead, “when”.</p><p><blockquote>蔚来成立于2014年，迄今在华销售和交付汽车已超过10万辆。该公司拥有一支由五款零排放、全电池驱动的车型组成的车队，从跑车到豪华轿车和全尺寸SUV。除了汽车之外，蔚来还因其在创新技术方面取得的重大进展而闻名，包括最先进的电池解决方案、人工智能和自动驾驶。该公司最近还将他们的全球扩张计划变成了现实，第一家海外蔚来商店将于2021年第三季度在挪威奥斯陆开业。我们认为，股价达到100美元不再是“如果”的问题，而是“何时”的问题。</blockquote></p><p> <b>A Trailblazer in Innovative Technology</b></p><p><blockquote><b>创新技术的开拓者</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/16d9fd877602d5604bc3a69593badfdf\" tg-width=\"640\" tg-height=\"262\"><span>Source:ir.nio.com</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：ir.nio.com</span></p></blockquote></p><p> NIO has continuously exhibited characteristics of an unsettling innovator. The brand is widely known for their breakthrough in battery swapping technology, “Power Swap”, which provides NIO owners with a fast and convenient solution to concerns over the typically limited travel range of EVs. Similar to a gas station, Power Swap is a battery swapping station that can swap a dead battery out for a fully charged one in under three minutes; a fully charged battery enables a NIO vehicle to travel up to 435 miles, which is more than double of the&nbsp;181-mile average travel range of electric vehicles&nbsp;currently available on the market. NIO owners have the option to subscribe to the“Battery as a Service” (“BaaS”)package, which is a monthly subscription service that provides NIO owners with flexible options for battery upgrades based on personal needs. The company currently offers a standard 75 kWh battery which enables a travel range of up to 310 miles on a full charge, and an enhanced 100 kWh battery which enables a travel range of up to 435 miles on a full charge; both are available for NIO owners to choose from on a month-to-month basis under BaaS. To date, there are&nbsp;more than 226 battery swapping stations&nbsp;across China, with more on the way following a recent&nbsp;strategic partnership agreement&nbsp;between NIO and Sinopec. NIO’s vehicles are also compatible with local competitor XPeng’s(NYSE:XPEV)1,140 vehicle charging stations available across 164 cities in China, which further enhances its existing network of charging infrastructure in place for NIO owners.</p><p><blockquote>蔚来一直表现出令人不安的创新者的特征。该品牌因其在电池交换技术“Power Swap”方面的突破而广为人知，该技术为蔚来车主提供了一种快速便捷的解决方案，以解决电动汽车行驶里程通常有限的问题。与加油站类似，换电是一个电池交换站，可以在三分钟内将没电的电池换成充满电的电池；充满电的电池使蔚来汽车能够行驶435英里，是目前市场上电动汽车平均行驶里程181英里的两倍多。蔚来车主可以选择订阅“电池即服务”（“BaaS”）套餐，这是一项按月订阅的服务，为蔚来车主根据个人需求提供电池升级的灵活选择。该公司目前提供标准75 kWh电池，充满电后续航里程可达310英里，增强型100 kWh电池，充满电后续航里程可达435英里；两者都可供蔚来车主在BaaS下按月选择。迄今为止，全国已有超过226个电池交换站，继蔚来与中石化最近达成战略合作协议后，更多的电池交换站正在建设中。蔚来的车辆还与当地竞争对手小鹏汽车（纽约证券交易所股票代码：XPEV）在中国164个城市提供的1,140个汽车充电站兼容，这进一步增强了其为蔚来车主提供的现有充电基础设施网络。</blockquote></p><p> In addition to the developed network of infrastructure needed to sustain NIO EVs in the long run, the company has also been working diligently on perfecting their autonomous driving and AI technology in order to remain competitive in the broader EV and tech space. NIO has already been performing testing on its autonomous driving systems since 2016, with their first testing on public roads in Beijing performed in 2018. The company’s commitment to the future of passenger transportation is also proven through their development of&nbsp;EVE, the brand’s concept car for autonomous driving which encompasses a luxurious, comfortable and safe experience powered by NIO’s&nbsp;NOMI AI, the world’s first in-vehicle artificial intelligence.</p><p><blockquote>除了长期维持蔚来电动汽车所需的发达基础设施网络外，该公司还一直在努力完善其自动驾驶和人工智能技术，以在更广泛的电动汽车和技术领域保持竞争力。自2016年以来，蔚来一直在对其自动驾驶系统进行测试，并于2018年在北京的公共道路上进行了首次测试。该公司对未来客运的承诺也通过EVE的开发得到了证明，EVE是该品牌的自动驾驶概念车，由蔚来的NOMI AI（世界上第一个车载人工智能）提供豪华、舒适和安全的体验。</blockquote></p><p></p><p> To further enhance their progress in autonomous driving technology, NIO has recently&nbsp;partnered with Mobileye&nbsp;– an Intel-owned(NASDAQ:INTC)company known for developing the “EyeQ chip” currently used by more than 27 car manufacturers for their assisted-driving technologies – to develop and commercialize driving automation that does not require human interaction (i.e. “level 4” autonomous driving). Their collaboration is expected to accelerate NIO’s launch of the “Autonomous Driving as a Service” (“ADaaS”) package, which is a monthly subscription for their autonomous driving technology, “NIO Autonomous Driving” (“NAD”). However, similar to Tesla’s “Full Self-Driving” package, the NAD technology that is expected to launch in 2022 does not yet make NIO vehicles capable of driving without human intervention, but it does catapult NIO to a comparable spot with industry leader Tesla in the race towards level 4 autonomous driving. NIO owners will have the option to subscribe to ADaaS for a monthly subscription fee of RMB 680. With more than 102,000 NIO vehicles on the road today, the new subscription package is expected to generate incremental annual sales of RMB 840 million ($132 million); the additional revenue stream is valued at approximately RMB 10 billion ($1.6 billion) upon the service’s inception, assuming an average vehicle life of 12 years with most existing NIO owners signing up.</p><p><blockquote>为了进一步推动自动驾驶技术的进步，蔚来最近与Mobileye合作，Mobileye是一家英特尔旗下（纳斯达克股票代码：INTC）公司，以开发“EyeQ芯片”而闻名，目前已被超过27家汽车制造商用于其辅助驾驶技术——开发和商业化不需要人机交互的驾驶自动化（即“4级”自动驾驶）。他们的合作预计将加速蔚来推出“自动驾驶即服务”（“ADaaS”）套餐，这是他们的自动驾驶技术“蔚来自动驾驶”（“NAD”）的每月订阅。然而，与特斯拉的“全自动驾驶”套件类似，预计将于2022年推出的NAD技术尚未使蔚来汽车能够在没有人工干预的情况下驾驶，但它确实使蔚来在通往4级自动驾驶的竞赛中与行业领导者特斯拉相提并论。蔚来车主将可以选择订阅ADaaS，每月订阅费为人民币680元。如今上路的蔚来汽车超过10.2万辆，新的订阅套餐预计将产生8.4亿元人民币（1.32亿美元）的年销售额增量；假设大多数现有蔚来车主注册的平均车辆寿命为12年，该服务推出后的额外收入流价值约为100亿元人民币（16亿美元）。</blockquote></p><p> NIO’s continuous developments in autonomous driving technology are expected to benefit the company and its shareholders greatly in the near future. By 2025, the global autonomous cars market will become one of the fastest growing and most highly demanded segments with an&nbsp;estimated value of $1.6 trillion. A 6% share of this market would add a valuation of at least $100 billion to NIO’s existing $67 billion market cap, boosting its per unit share value to more than $100. Considering NIO is currently one of the very few fully electric automakers to have achieved tangible results within the autonomous driving scene, and is actively growing its overseas sales, we are confident that the company is capable of capturing more than 6% of the said market share, and achieve a per unit share price of more than $100 by 2025 with ease. Combined with the global shift in consumer preference towards electrification and automation, we are projecting vehicle sales of approximately 300,000 units by FY 2025, which will yield total revenues of approximately RMB 140 billion ($22 billion).</p><p><blockquote>蔚来在自动驾驶技术方面的不断发展预计将在不久的将来使公司及其股东受益匪浅。到2025年，全球自动驾驶汽车市场将成为增长最快、需求最大的细分市场之一，估计价值为1.6万亿美元。该市场6%的份额将为蔚来现有670亿美元的市值增加至少1000亿美元的估值，使其每股价值超过100美元。考虑到蔚来是目前极少数在自动驾驶领域取得切实成果的全电动汽车制造商之一，并且正在积极增长其海外销量，我们有信心该公司有能力占据上述市场6%以上的份额，并轻松实现到2025年每股股价超过100美元。结合全球消费者偏好向电气化和自动化的转变，我们预计到2025财年汽车销量约为30万辆，总收入约为1400亿元人民币（220亿美元）。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b6c800a04e6df92802f6893d214eecdd\" tg-width=\"640\" tg-height=\"213\"><span>Source: Author, with data from our internal forecasts (NIO_-_Forecasted_Financial_Information.pdf).</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者，数据来自我们的内部预测（蔚来_-_Forecasted_Financial_Information.pdf）。</span></p></blockquote></p><p> <b>Global Expansion</b></p><p><blockquote><b>全球扩张</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/537449f8f7ee9c736b48c1776cbb7259\" tg-width=\"640\" tg-height=\"249\"><span>Source: ir.nio.com</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：ir.nio.com</span></p></blockquote></p><p> Another catalyst that will propel NIO’s share price beyond $100 is their ongoing overseas expansion efforts. NIO has been transparent about their intentions to expand globally, especially in the U.S. and Europe, as part of their plans in becoming an industry leader. NIO will be opening its first&nbsp;overseas sales and service centre in Oslo, Norway&nbsp;in September. The brand’s footprint in Norway will further expand in 2022 with four more NIO stores to open in Bergen, Stavanger, Trondheim and Kristiansand. In addition to its direct sales and service centres, NIO will also be introducing a full charging map for Europe, starting with four NIO Power Swap stations in Norway to provide new NIO owners with the convenience and range that the brand builds its success on. NIO’s flagship SUV, the&nbsp;ES8, which currently retails at a&nbsp;starting price of approximately US$67,000, will be the first model introduced in the European market, with the brand’s newest full-size sedan, the&nbsp;ET7, to follow in 2022.</p><p><blockquote>推动蔚来股价突破100美元的另一个催化剂是他们正在进行的海外扩张努力。蔚来一直公开表示其全球扩张的意图，特别是在美国和欧洲，作为其成为行业领导者计划的一部分。蔚来将于9月在挪威奥斯陆开设首个海外销售及服务中心。该品牌在挪威的足迹将于2022年进一步扩大，将在Bergen、Stavanger、Trondheim和Kristiansand开设四家蔚来商店。除了直销和服务中心外，蔚来还将在欧洲推出完整的充电地图，首先是在挪威的四个蔚来换电站，为新蔚来车主提供该品牌赖以成功的便利和续航里程。蔚来的旗舰SUV ES 8目前零售价约为67,000美元，将是首款引入欧洲市场的车型，该品牌最新的全尺寸轿车ET 7将于2022年紧随其后。</blockquote></p><p> With a proven sales track record in China’s luxury EV market, and specs comparable to the globally recognized Tesla, there is no reason for NIO to not succeed overseas. As mentioned in earlier sections, NIO’s vehicles have a driving range of up to 435 miles on a full charge, making it a desirable choice for potential European and American car owners looking for a reliable companion to accompany them on daily commutes to long road trips. The NIO exterior and interior designs are also modern, luxurious, and comparable to those preferred by the European and North American population. Combined with a diverse product line and price range, NIO is equipped to take on the increasing demands for EVs on a global scale.</p><p><blockquote>凭借在中国豪华电动汽车市场的良好销售记录，以及与全球公认的特斯拉相当的规格，蔚来没有理由不在海外取得成功。正如前面提到的，蔚来的车辆充满电后的行驶里程可达435英里，这使得它成为潜在的欧美车主的理想选择，他们正在寻找一个可靠的伴侣来陪伴他们进行日常通勤和长途旅行。蔚来的外观和内饰设计也是现代、豪华的，可与欧洲和北美人口的首选相媲美。结合多样化的产品线和价格范围，蔚来有能力满足全球范围内对电动汽车不断增长的需求。</blockquote></p><p> <b>NIO’s Historical Performance</b></p><p><blockquote><b>蔚来的历史表现</b></blockquote></p><p></p><p> Just a little more than a year ago, NIO’s share price hit an all-time low at under $2 amidst liquidity troubles despite continued vehicle sales. In mid-2020, the municipal government of Hefei, China came to NIO’s rescue with a&nbsp;capital injection of RMB 7 billion&nbsp;(approximately $1 billion). The arrangement resulted in the creation of “NIO China”, which serves as the operating entity that holds all of NIO’s core businesses and assets; NIO currently holds a 90.36% ownership interest in NIO China, while the “Hefei Strategic Investors” consortium holds the remainder 9.64%. The partnership became the company’s lifeline; the additional capital brought forth significant improvements to the company’s operations and vehicle sales, which were reflected in their strong financial performance and upward trend in share price in the summer of 2020. By the end of 2020’s second quarter, NIO’s share price rebounded by almost 20% on average after posting a 171% quarter-over-quarter increase in total revenues. The company’s share price more than tripled in 2020’s third quarter, averaging $15.40, and continued to climb towards its fourth quarter average of $38.70. By the end of the latest quarter ended March 31st, 2021, NIO’s share price averaged $50.97, and peaked at almost $62 in February which is more than 10x its&nbsp;IPO price in 2018. The company holds a market cap of more than $67 billion today, outgrowing its mere $1 billion market cap when it made its debut on the NYSE.</p><p><blockquote>就在一年多前，尽管汽车销量持续增长，但由于流动性问题，蔚来股价跌至2美元以下的历史低点。2020年年中，中国合肥市政府向蔚来注资70亿元人民币（约合10亿美元）。该安排导致创建了“蔚来中国”，作为持有蔚来所有核心业务和资产的运营实体；蔚来目前持有蔚来90.36%的所有权权益，而“合肥战略投资者”联合体持有馀下9.64%。这种合作关系成为了公司的生命线；额外资本为公司的运营和汽车销售带来了显着改善，这反映在其强劲的财务业绩和2020年夏季股价的上涨趋势上。截至2020年第二季度末，蔚来总收入环比增长171%，股价平均反弹近20%。该公司股价在2020年第三季度上涨了两倍多，平均为15.40美元，并继续攀升至第四季度平均38.70美元。截至2021年3月31日的最新季度末，蔚来的平均股价为50.97美元，并在2月份达到近62美元的峰值，是2018年IPO价格的10倍多。该公司目前的市值超过670亿美元，超过了其在纽约证券交易所上市时仅10亿美元的市值。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75a1d7edb18c1762028ba54f617e1982\" tg-width=\"640\" tg-height=\"250\"><span>Source: Author, with data from ir.nio.com</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者，数据来自ir.nio.com</span></p></blockquote></p><p> NIO’s fundamentals have also shown nothing but steady improvements since its share price peaked earlier this year before the&nbsp;growth stock sell-off in late February. Deliveries in 2021 have continued to accelerate exponentially, with first quarter deliveries of more than 20,000 vehicles, representing almost 50% of total deliveries made in 2020. The company continues to exhibit a promising outlook with more than 7,100 vehicles delivered in April, representing an increase of more than 125% year-over-year. NIO has also maintained positive cash flows from operating activities for the first quarter of 2021, thanks to the higher deliveries and effective cost-management measures which have amped up their gross profit margin to 19.5%, comparable with industry leaders like Tesla whose first quarter gross margins were 21%. As aforementioned, we are forecasting vehicle sales of close to 300,000 units by FY 2025, which translates to approximately RMB 140 billion ($22 billion) in total revenues ($18.60 per share). Our vehicle sales forecast for FY 2025 is further corroborated by the&nbsp;recently renewed manufacturing agreement&nbsp;with joint venturer “Jianghuai Automobile Group” (“JAC”), which increases the current annual production capacity of 100,000 units to 240,000 units; the ongoing construction of “NeoPark” in Hefei, China is also expected to add annual production capacity of 1 million units, which further supports our positive outlook on NIO’s continued commitment to grow its business. Considering industry peer Tesla’s current P/S ratio of 16.43x with approximately $42 billion in annual revenues (annualization of $10.389 billion in first quarter revenues), the same proportion applied to NIO’s forecasted FY 2025 total revenues is expected to yield a P/S ratio of 8.7x, resulting in a share price of more than $160.</p><p><blockquote>自今年早些时候股价在2月底成长型股票遭到抛售之前见顶以来，蔚来的基本面也只显示出稳步改善。2021年的交付量继续呈指数级增长，第一季度交付量超过20,000辆，几乎占2020年总交付量的50%。该公司继续展现出乐观的前景，4月份交付了超过7,100辆汽车，同比增长超过125%。得益于更高的交付量和有效的成本管理措施，蔚来在2021年第一季度的经营活动中也保持了正现金流，这些措施将其毛利率提高至19.5%，与特斯拉等行业领导者的毛利率相当。第一季度毛利率为21%。如上所述，我们预计到2025财年汽车销量将接近30万辆，这意味着总收入约为1400亿元人民币（220亿美元）（每股18.60美元）。我们最近与合资企业“江淮汽车集团”（“江淮汽车”）续签的制造协议进一步证实了我们对2025财年的汽车销售预测，该协议将目前100,000辆的年产能提高到240,000辆；正在建设中的“NeoPark”亦预期将新增100万台的年产能，这进一步支持了我们对蔚来继续致力于发展其业务的积极展望。考虑到行业同行特斯拉目前的市盈率为16.43倍，年收入约为420亿美元（第一季度收入年化为103.89亿美元），将相同比例应用于蔚来预测的2025财年总收入预计将产生市盈率8.7倍，股价超过160美元。</blockquote></p><p> <b>NIO vs. LI and XPEV</b></p><p><blockquote><b>蔚来vs.LI和XPEV</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/af8fa939f92be448d1f427a6ac4bfb25\" tg-width=\"640\" tg-height=\"352\"><span>Source: Finviz</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Finviz</span></p></blockquote></p><p> We have also compared NIO’s current P/S ratio to its domestic peers to gauge the timeline in which NIO’s share price will exceed $100. NIO currently trades at a P/S ratio of approximately 14.88x, while domestic industry peers, Li Auto(NASDAQ:LI)and XPEV, currently trade at a P/S ratio of 14.46x and 21.31x, respectively.</p><p><blockquote>我们还将蔚来目前的市盈率与其国内同行进行了比较，以衡量蔚来股价突破100美元的时间表。蔚来目前的市盈率约为14.88倍，而国内行业同行理想汽车（纳斯达克：LI）和XPEV目前的市盈率分别为14.46倍和21.31倍。</blockquote></p><p></p><p> Considering NIO’s technology, revenues, global footprint, and cash flows are stronger than LI’s and XPEV’s, the former deserves to be traded at a much higher multiple than the latter two. Even if NIO reaches a P/S ratio of 18.1x (mid-point to XPEV's), it will drive the company’s current share price up to $51.50, which represents an upside potential of 22% based on the last traded share price of $42.34 (June 1st). And based on our forecasted revenues for FY 2025 for NIO of RMB 140 billion ($22 billion), or $18.60 per share, even a multiple half of the 18.1x would be more than sufficient to bring NIO's share price beyond $160 by 2025; we believe the trading multiple is achievable for NIO given the cash from operations and technological advancements achieved by then would place them on a trajectory of continued long-term growth within the EV industry, which is expected to continue into 2030 and beyond when the brand's level 4 autonomous driving technology development is complete and commercialized.</p><p><blockquote>考虑到蔚来的技术、收入、全球足迹和现金流都强于LI和XPEV，前者的市盈率应该远高于后两者。即使蔚来的市盈率达到18.1倍（XPEV的中点），也将推动该公司当前股价上涨至51.50美元，基于上次交易股价42.34美元（6月1日），这意味着22%的上涨潜力。根据我们对蔚来2025财年收入1400亿元人民币（220亿美元）或每股18.60美元的预测，即使是18.1倍的一半也足以使蔚来的股价在2025年突破160美元；我们认为，蔚来的交易倍数是可以实现的，因为届时从运营中获得的现金和技术进步将使其走上电动汽车行业持续长期增长的轨道，预计这种增长将持续到2030年及以后，届时该品牌的4级自动驾驶技术开发完成并商业化。</blockquote></p><p> <b>Business Risks and Challenges</b></p><p><blockquote><b>业务风险及挑战</b></blockquote></p><p> As mentioned in one of my&nbsp;previous articles on NIO, the “Holding Foreign Companies Accountable Act” (“HFCA Act”) remains one of the most significant impending threats to the company’s share price. Currently, public accounting firms in China are non-compliant with PCAOB inspection rules required by the SEC, and the enactment of the HFCA Act in December 2020 requires that these public accounting firms comply with PCAOB inspection requests within three years of the enactment date; otherwise, all public companies audited by said firms will be subject to risks of de-listing. NIO is currently audited by PricewaterhouseCoopers Zhong Tian LLP, which is on PCAOB’s&nbsp;denied-access list. The potential threat of being delisted from the NYSE could be a deterrence factor to investors and ultimately hemorrhage NIO’s share price in the long run if Chinese authorities and the PCAOB cannot reach an agreement on conducting inspections soon.</p><p><blockquote>正如我在之前关于蔚来的一篇文章中提到的，《外国公司问责法》（“HFCA法案”）仍然是公司股价面临的最重大威胁之一。目前，中国的公共会计师事务所不符合SEC要求的PCAOB检查规则，2020年12月HFCA法案的颁布要求这些公共会计师事务所在颁布之日起三年内遵守PCAOB的检查要求；否则，上述事务所审计的所有上市公司都将面临退市风险。蔚来目前由普华永道中天会计师事务所（LLP）进行审计，该事务所被列入PCAOB的拒绝访问名单。如果中国当局和PCAOB不能很快就进行检查达成协议，从纽约证券交易所退市的潜在威胁可能会成为投资者的威慑因素，并最终导致蔚来股价长期下跌。</blockquote></p><p> Another imminent challenge to NIO’s business is the ongoing global chip supply shortage. As the automotive industry becomes more dependent on chips to manage every function of their vehicles, the gap between automaker demands and chip manufacturer supplies is widened. NIO was no exception to the impacts of the ongoing chip supply crisis – in March 2021, NIO halted their production activity at the JAC-NIO manufacturing plant for five working days in order to adjust their production levels. However, the company continues to effectively navigate through the situation as proven through their increasing number of deliveries month-over-month; in NIO’s latest delivery update press release for April, the company has continued to keep up with market demand with more than 7,100 vehicle deliveries made, representing a 125% year-over-year growth.</p><p><blockquote>蔚来业务面临的另一个迫在眉睫的挑战是持续的全球芯片供应短缺。随着汽车行业越来越依赖芯片来管理车辆的每一项功能，汽车制造商的需求和芯片制造商的供应之间的差距越来越大。蔚来也不例外地受到持续的芯片供应危机的影响——2021年3月，蔚来停止了江淮蔚来制造工厂的生产活动五个工作日，以调整生产水平。然而，该公司继续有效地应对这种情况，交付量逐月增加就证明了这一点；在蔚来4月份最新的交付更新新闻稿中，该公司继续满足市场需求，交付了超过7,100辆汽车，同比增长125%。</blockquote></p><p> Competition within the EV sector has also ramped up in recent years. Consumer attitude towards EVs has changed drastically in the past decade due to rising concerns over climate change met with price parity between traditional petrol-fueled vehicles and EVs. The entry barrier for emerging EV makers has also lowered significantly as car battery solutions become more accessible through third-party OEMs; new entrants are now keener on participating in the profitable opportunity within the growing EV sector as initial investments become more reasonable than it was for Tesla in 2003 when EVs were still just a concept to many. In addition to new entrants, traditional petrol-fueled automakers like Ford(NYSE:F)have also started to incorporate fully battery-powered vehicles into their fleet in order to meet evolving consumer demands and remain competitive within the automotive industry. However, we believe NIO possesses the brand, customer experience, production strategy, talent and business model (further analyzedhere) needed to remain successful within the new competitive landscape in the long run.</p><p><blockquote>近年来，电动汽车行业的竞争也愈演愈烈。在过去十年中，由于对气候变化的日益担忧以及传统汽油燃料汽车和电动汽车之间的价格平价，消费者对电动汽车的态度发生了巨大变化。随着第三方原始设备制造商更容易获得汽车电池解决方案，新兴电动汽车制造商的进入门槛也大幅降低；随着初始投资变得比2003年特斯拉更加合理，新进入者现在更热衷于参与不断增长的电动汽车行业的盈利机会，当时电动汽车对许多人来说仍然只是一个概念。除了新进入者之外，福特（纽约证券交易所股票代码：F）等传统汽油燃料汽车制造商也开始将全电池驱动的汽车纳入其车队，以满足不断变化的消费者需求并保持在汽车行业内的竞争力。然而，我们相信蔚来拥有在新的竞争格局中长期保持成功所需的品牌、客户体验、生产战略、人才和商业模式（此处进一步分析）。</blockquote></p><p> <b>Conclusion</b></p><p><blockquote><b>结论</b></blockquote></p><p> NIO has already established a strong brand presence within the domestic Chinese market, which is currently one of the fastest growing EV markets, representing more than 40% of global EV sales in 2020. Combined with their proven ability to produce quality EVs, construct innovative charging infrastructure, achieve breakthrough progress in the development of autonomous driving technology, and execute their overseas expansion strategy, NIO is effectively narrowing the gap between them and Tesla within the EV sector on a global scale. We are confident that the next five years will be a transformational era for the EV and tech company due to increasing demands for electrification and automation within the automotive industry, which NIO has already proven to excel in. The value of its continued achievements will be reflected in its share price in no time, making them a worthy stock pick for those looking to profit off of the impending age of green transition and automation.</p><p><blockquote>蔚来已经在中国国内市场建立了强大的品牌影响力，中国国内市场是目前增长最快的电动汽车市场之一，2020年占全球电动汽车销量的40%以上。结合其生产优质电动汽车、建设创新充电基础设施、在自动驾驶技术开发方面取得突破性进展以及执行海外扩张战略的能力，蔚来正在有效缩小与特斯拉在全球电动汽车领域的差距。我们相信，由于汽车行业对电气化和自动化的需求不断增长，未来五年将是电动汽车和科技公司的转型时代，蔚来已经证明在这方面表现出色。其持续成就的价值将很快反映在其股价中，对于那些希望从即将到来的绿色转型和自动化时代中获利的人来说，这使其成为值得选择的股票。</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>Can NIO Stock Reach $100? We Think It's A Matter Of 'When' Not 'If'<blockquote>蔚来股价能达到100美元吗？我们认为这是“何时”的问题，而不是“如果”的问题</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\">\nCan NIO Stock Reach $100? We Think It's A Matter Of 'When' Not 'If'<blockquote>蔚来股价能达到100美元吗？我们认为这是“何时”的问题，而不是“如果”的问题</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-05 12:15</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>NIO's share price has soared by more than 816% in the past year, peaking at almost $62 in early February before the growth stock sell-off in early March.</li>  <li>The company's innovative approach and overseas expansion strategy, combined with the growing market sentiment on global electrification and automation are expected to boost the company's valuation.</li>  <li>We believe NIO's share price will soar beyond $160 by 2025 as global EV sales continue to ramp up with autonomous driving becoming a reality.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b31b2f189fa181e941126674e0b4c0b\" tg-width=\"1536\" tg-height=\"1024\"><span>Photo by Drew Angerer/Getty Images News via Getty Images</span></p><p><blockquote><ul><li>蔚来的股价在过去一年飙升了816%以上，在3月初的成长股抛售之前，在2月初达到了近62美元的峰值。</li><li>该公司的创新方法和海外扩张战略，加上全球电气化和自动化市场情绪日益高涨，预计将提振该公司的估值。</li><li>我们相信，随着自动驾驶成为现实，全球电动汽车销量持续增长，蔚来股价到2025年将飙升至160美元以上。</li></ul><p class=\"t-img-caption\"><span>摄影：Drew Angerer/Getty Images新闻来自Getty Images</span></p></blockquote></p><p> Despite it being a local Chinese electric vehicle (“EV”) brand that has only recently started its overseas expansion into Europe, NIO(NYSE:NIO)has already garnered significant international attention amidst avid investors within the EV sector in recent years. It has only been three short years since NIO made its first deliveries in mid-2018, yet many are already wondering whether its share price can reach similar heights as an industry leader, Tesla’s(NASDAQ:TSLA). Albeit a little farfetched given Tesla is currently trading at more than $600 per share with a market cap of more than $600 billion, we do believe NIO has promising potential to break $100 per share before 2025. Even Wall Street Analysts remain optimistic about the company’s future by assigning a&nbsp;price target of close to $60, which represents upward potential of more than 35% based on the last traded share price of $42.34 (June 1st).</p><p><blockquote>尽管蔚来（纽约证券交易所股票代码：蔚来）是一个中国本土电动汽车（“EV”）品牌，最近才开始向欧洲进行海外扩张，但近年来已经在电动汽车行业狂热投资者中获得了广泛的国际关注。距离蔚来于2018年中期首次交付仅过去了短短三年，但许多人已经想知道其股价是否能达到与行业领导者特斯拉（纳斯达克股票代码：TSLA）类似的高度。尽管考虑到特斯拉目前的股价超过每股600美元，市值超过6000亿美元，这有点牵强，但我们确实相信蔚来有潜力在2025年之前突破每股100美元。就连华尔街分析师也对该公司的未来保持乐观，他们将目标价定为接近60美元，根据上次交易股价42.34美元（6月1日）计算，该目标价有超过35%的上涨潜力。</blockquote></p><p> Founded in 2014, NIO has sold and delivered more than 100,000 vehicles in China to date. The company boasts a fleet of five emission-free, fully battery-powered models, ranging from sports cars to luxury sedans and full-size SUVs. In addition to their vehicles, NIO is also known for their significant progress achieved in innovative technology, including state-of-the-art battery solutions, artificial intelligence, and autonomous driving. The company has also recently turned their global expansion plans into reality, with the first overseas NIO store to open in Oslo, Norway in Q3 2021. We believe that reaching a share price of $100 is no longer a question of “if”, but instead, “when”.</p><p><blockquote>蔚来成立于2014年，迄今在华销售和交付汽车已超过10万辆。该公司拥有一支由五款零排放、全电池驱动的车型组成的车队，从跑车到豪华轿车和全尺寸SUV。除了汽车之外，蔚来还因其在创新技术方面取得的重大进展而闻名，包括最先进的电池解决方案、人工智能和自动驾驶。该公司最近还将他们的全球扩张计划变成了现实，第一家海外蔚来商店将于2021年第三季度在挪威奥斯陆开业。我们认为，股价达到100美元不再是“如果”的问题，而是“何时”的问题。</blockquote></p><p> <b>A Trailblazer in Innovative Technology</b></p><p><blockquote><b>创新技术的开拓者</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/16d9fd877602d5604bc3a69593badfdf\" tg-width=\"640\" tg-height=\"262\"><span>Source:ir.nio.com</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：ir.nio.com</span></p></blockquote></p><p> NIO has continuously exhibited characteristics of an unsettling innovator. The brand is widely known for their breakthrough in battery swapping technology, “Power Swap”, which provides NIO owners with a fast and convenient solution to concerns over the typically limited travel range of EVs. Similar to a gas station, Power Swap is a battery swapping station that can swap a dead battery out for a fully charged one in under three minutes; a fully charged battery enables a NIO vehicle to travel up to 435 miles, which is more than double of the&nbsp;181-mile average travel range of electric vehicles&nbsp;currently available on the market. NIO owners have the option to subscribe to the“Battery as a Service” (“BaaS”)package, which is a monthly subscription service that provides NIO owners with flexible options for battery upgrades based on personal needs. The company currently offers a standard 75 kWh battery which enables a travel range of up to 310 miles on a full charge, and an enhanced 100 kWh battery which enables a travel range of up to 435 miles on a full charge; both are available for NIO owners to choose from on a month-to-month basis under BaaS. To date, there are&nbsp;more than 226 battery swapping stations&nbsp;across China, with more on the way following a recent&nbsp;strategic partnership agreement&nbsp;between NIO and Sinopec. NIO’s vehicles are also compatible with local competitor XPeng’s(NYSE:XPEV)1,140 vehicle charging stations available across 164 cities in China, which further enhances its existing network of charging infrastructure in place for NIO owners.</p><p><blockquote>蔚来一直表现出令人不安的创新者的特征。该品牌因其在电池交换技术“Power Swap”方面的突破而广为人知，该技术为蔚来车主提供了一种快速便捷的解决方案，以解决电动汽车行驶里程通常有限的问题。与加油站类似，换电是一个电池交换站，可以在三分钟内将没电的电池换成充满电的电池；充满电的电池使蔚来汽车能够行驶435英里，是目前市场上电动汽车平均行驶里程181英里的两倍多。蔚来车主可以选择订阅“电池即服务”（“BaaS”）套餐，这是一项按月订阅的服务，为蔚来车主根据个人需求提供电池升级的灵活选择。该公司目前提供标准75 kWh电池，充满电后续航里程可达310英里，增强型100 kWh电池，充满电后续航里程可达435英里；两者都可供蔚来车主在BaaS下按月选择。迄今为止，全国已有超过226个电池交换站，继蔚来与中石化最近达成战略合作协议后，更多的电池交换站正在建设中。蔚来的车辆还与当地竞争对手小鹏汽车（纽约证券交易所股票代码：XPEV）在中国164个城市提供的1,140个汽车充电站兼容，这进一步增强了其为蔚来车主提供的现有充电基础设施网络。</blockquote></p><p> In addition to the developed network of infrastructure needed to sustain NIO EVs in the long run, the company has also been working diligently on perfecting their autonomous driving and AI technology in order to remain competitive in the broader EV and tech space. NIO has already been performing testing on its autonomous driving systems since 2016, with their first testing on public roads in Beijing performed in 2018. The company’s commitment to the future of passenger transportation is also proven through their development of&nbsp;EVE, the brand’s concept car for autonomous driving which encompasses a luxurious, comfortable and safe experience powered by NIO’s&nbsp;NOMI AI, the world’s first in-vehicle artificial intelligence.</p><p><blockquote>除了长期维持蔚来电动汽车所需的发达基础设施网络外，该公司还一直在努力完善其自动驾驶和人工智能技术，以在更广泛的电动汽车和技术领域保持竞争力。自2016年以来，蔚来一直在对其自动驾驶系统进行测试，并于2018年在北京的公共道路上进行了首次测试。该公司对未来客运的承诺也通过EVE的开发得到了证明，EVE是该品牌的自动驾驶概念车，由蔚来的NOMI AI（世界上第一个车载人工智能）提供豪华、舒适和安全的体验。</blockquote></p><p></p><p> To further enhance their progress in autonomous driving technology, NIO has recently&nbsp;partnered with Mobileye&nbsp;– an Intel-owned(NASDAQ:INTC)company known for developing the “EyeQ chip” currently used by more than 27 car manufacturers for their assisted-driving technologies – to develop and commercialize driving automation that does not require human interaction (i.e. “level 4” autonomous driving). Their collaboration is expected to accelerate NIO’s launch of the “Autonomous Driving as a Service” (“ADaaS”) package, which is a monthly subscription for their autonomous driving technology, “NIO Autonomous Driving” (“NAD”). However, similar to Tesla’s “Full Self-Driving” package, the NAD technology that is expected to launch in 2022 does not yet make NIO vehicles capable of driving without human intervention, but it does catapult NIO to a comparable spot with industry leader Tesla in the race towards level 4 autonomous driving. NIO owners will have the option to subscribe to ADaaS for a monthly subscription fee of RMB 680. With more than 102,000 NIO vehicles on the road today, the new subscription package is expected to generate incremental annual sales of RMB 840 million ($132 million); the additional revenue stream is valued at approximately RMB 10 billion ($1.6 billion) upon the service’s inception, assuming an average vehicle life of 12 years with most existing NIO owners signing up.</p><p><blockquote>为了进一步推动自动驾驶技术的进步，蔚来最近与Mobileye合作，Mobileye是一家英特尔旗下（纳斯达克股票代码：INTC）公司，以开发“EyeQ芯片”而闻名，目前已被超过27家汽车制造商用于其辅助驾驶技术——开发和商业化不需要人机交互的驾驶自动化（即“4级”自动驾驶）。他们的合作预计将加速蔚来推出“自动驾驶即服务”（“ADaaS”）套餐，这是他们的自动驾驶技术“蔚来自动驾驶”（“NAD”）的每月订阅。然而，与特斯拉的“全自动驾驶”套件类似，预计将于2022年推出的NAD技术尚未使蔚来汽车能够在没有人工干预的情况下驾驶，但它确实使蔚来在通往4级自动驾驶的竞赛中与行业领导者特斯拉相提并论。蔚来车主将可以选择订阅ADaaS，每月订阅费为人民币680元。如今上路的蔚来汽车超过10.2万辆，新的订阅套餐预计将产生8.4亿元人民币（1.32亿美元）的年销售额增量；假设大多数现有蔚来车主注册的平均车辆寿命为12年，该服务推出后的额外收入流价值约为100亿元人民币（16亿美元）。</blockquote></p><p> NIO’s continuous developments in autonomous driving technology are expected to benefit the company and its shareholders greatly in the near future. By 2025, the global autonomous cars market will become one of the fastest growing and most highly demanded segments with an&nbsp;estimated value of $1.6 trillion. A 6% share of this market would add a valuation of at least $100 billion to NIO’s existing $67 billion market cap, boosting its per unit share value to more than $100. Considering NIO is currently one of the very few fully electric automakers to have achieved tangible results within the autonomous driving scene, and is actively growing its overseas sales, we are confident that the company is capable of capturing more than 6% of the said market share, and achieve a per unit share price of more than $100 by 2025 with ease. Combined with the global shift in consumer preference towards electrification and automation, we are projecting vehicle sales of approximately 300,000 units by FY 2025, which will yield total revenues of approximately RMB 140 billion ($22 billion).</p><p><blockquote>蔚来在自动驾驶技术方面的不断发展预计将在不久的将来使公司及其股东受益匪浅。到2025年，全球自动驾驶汽车市场将成为增长最快、需求最大的细分市场之一，估计价值为1.6万亿美元。该市场6%的份额将为蔚来现有670亿美元的市值增加至少1000亿美元的估值，使其每股价值超过100美元。考虑到蔚来是目前极少数在自动驾驶领域取得切实成果的全电动汽车制造商之一，并且正在积极增长其海外销量，我们有信心该公司有能力占据上述市场6%以上的份额，并轻松实现到2025年每股股价超过100美元。结合全球消费者偏好向电气化和自动化的转变，我们预计到2025财年汽车销量约为30万辆，总收入约为1400亿元人民币（220亿美元）。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b6c800a04e6df92802f6893d214eecdd\" tg-width=\"640\" tg-height=\"213\"><span>Source: Author, with data from our internal forecasts (NIO_-_Forecasted_Financial_Information.pdf).</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者，数据来自我们的内部预测（蔚来_-_Forecasted_Financial_Information.pdf）。</span></p></blockquote></p><p> <b>Global Expansion</b></p><p><blockquote><b>全球扩张</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/537449f8f7ee9c736b48c1776cbb7259\" tg-width=\"640\" tg-height=\"249\"><span>Source: ir.nio.com</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：ir.nio.com</span></p></blockquote></p><p> Another catalyst that will propel NIO’s share price beyond $100 is their ongoing overseas expansion efforts. NIO has been transparent about their intentions to expand globally, especially in the U.S. and Europe, as part of their plans in becoming an industry leader. NIO will be opening its first&nbsp;overseas sales and service centre in Oslo, Norway&nbsp;in September. The brand’s footprint in Norway will further expand in 2022 with four more NIO stores to open in Bergen, Stavanger, Trondheim and Kristiansand. In addition to its direct sales and service centres, NIO will also be introducing a full charging map for Europe, starting with four NIO Power Swap stations in Norway to provide new NIO owners with the convenience and range that the brand builds its success on. NIO’s flagship SUV, the&nbsp;ES8, which currently retails at a&nbsp;starting price of approximately US$67,000, will be the first model introduced in the European market, with the brand’s newest full-size sedan, the&nbsp;ET7, to follow in 2022.</p><p><blockquote>推动蔚来股价突破100美元的另一个催化剂是他们正在进行的海外扩张努力。蔚来一直公开表示其全球扩张的意图，特别是在美国和欧洲，作为其成为行业领导者计划的一部分。蔚来将于9月在挪威奥斯陆开设首个海外销售及服务中心。该品牌在挪威的足迹将于2022年进一步扩大，将在Bergen、Stavanger、Trondheim和Kristiansand开设四家蔚来商店。除了直销和服务中心外，蔚来还将在欧洲推出完整的充电地图，首先是在挪威的四个蔚来换电站，为新蔚来车主提供该品牌赖以成功的便利和续航里程。蔚来的旗舰SUV ES 8目前零售价约为67,000美元，将是首款引入欧洲市场的车型，该品牌最新的全尺寸轿车ET 7将于2022年紧随其后。</blockquote></p><p> With a proven sales track record in China’s luxury EV market, and specs comparable to the globally recognized Tesla, there is no reason for NIO to not succeed overseas. As mentioned in earlier sections, NIO’s vehicles have a driving range of up to 435 miles on a full charge, making it a desirable choice for potential European and American car owners looking for a reliable companion to accompany them on daily commutes to long road trips. The NIO exterior and interior designs are also modern, luxurious, and comparable to those preferred by the European and North American population. Combined with a diverse product line and price range, NIO is equipped to take on the increasing demands for EVs on a global scale.</p><p><blockquote>凭借在中国豪华电动汽车市场的良好销售记录，以及与全球公认的特斯拉相当的规格，蔚来没有理由不在海外取得成功。正如前面提到的，蔚来的车辆充满电后的行驶里程可达435英里，这使得它成为潜在的欧美车主的理想选择，他们正在寻找一个可靠的伴侣来陪伴他们进行日常通勤和长途旅行。蔚来的外观和内饰设计也是现代、豪华的，可与欧洲和北美人口的首选相媲美。结合多样化的产品线和价格范围，蔚来有能力满足全球范围内对电动汽车不断增长的需求。</blockquote></p><p> <b>NIO’s Historical Performance</b></p><p><blockquote><b>蔚来的历史表现</b></blockquote></p><p></p><p> Just a little more than a year ago, NIO’s share price hit an all-time low at under $2 amidst liquidity troubles despite continued vehicle sales. In mid-2020, the municipal government of Hefei, China came to NIO’s rescue with a&nbsp;capital injection of RMB 7 billion&nbsp;(approximately $1 billion). The arrangement resulted in the creation of “NIO China”, which serves as the operating entity that holds all of NIO’s core businesses and assets; NIO currently holds a 90.36% ownership interest in NIO China, while the “Hefei Strategic Investors” consortium holds the remainder 9.64%. The partnership became the company’s lifeline; the additional capital brought forth significant improvements to the company’s operations and vehicle sales, which were reflected in their strong financial performance and upward trend in share price in the summer of 2020. By the end of 2020’s second quarter, NIO’s share price rebounded by almost 20% on average after posting a 171% quarter-over-quarter increase in total revenues. The company’s share price more than tripled in 2020’s third quarter, averaging $15.40, and continued to climb towards its fourth quarter average of $38.70. By the end of the latest quarter ended March 31st, 2021, NIO’s share price averaged $50.97, and peaked at almost $62 in February which is more than 10x its&nbsp;IPO price in 2018. The company holds a market cap of more than $67 billion today, outgrowing its mere $1 billion market cap when it made its debut on the NYSE.</p><p><blockquote>就在一年多前，尽管汽车销量持续增长，但由于流动性问题，蔚来股价跌至2美元以下的历史低点。2020年年中，中国合肥市政府向蔚来注资70亿元人民币（约合10亿美元）。该安排导致创建了“蔚来中国”，作为持有蔚来所有核心业务和资产的运营实体；蔚来目前持有蔚来90.36%的所有权权益，而“合肥战略投资者”联合体持有馀下9.64%。这种合作关系成为了公司的生命线；额外资本为公司的运营和汽车销售带来了显着改善，这反映在其强劲的财务业绩和2020年夏季股价的上涨趋势上。截至2020年第二季度末，蔚来总收入环比增长171%，股价平均反弹近20%。该公司股价在2020年第三季度上涨了两倍多，平均为15.40美元，并继续攀升至第四季度平均38.70美元。截至2021年3月31日的最新季度末，蔚来的平均股价为50.97美元，并在2月份达到近62美元的峰值，是2018年IPO价格的10倍多。该公司目前的市值超过670亿美元，超过了其在纽约证券交易所上市时仅10亿美元的市值。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75a1d7edb18c1762028ba54f617e1982\" tg-width=\"640\" tg-height=\"250\"><span>Source: Author, with data from ir.nio.com</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者，数据来自ir.nio.com</span></p></blockquote></p><p> NIO’s fundamentals have also shown nothing but steady improvements since its share price peaked earlier this year before the&nbsp;growth stock sell-off in late February. Deliveries in 2021 have continued to accelerate exponentially, with first quarter deliveries of more than 20,000 vehicles, representing almost 50% of total deliveries made in 2020. The company continues to exhibit a promising outlook with more than 7,100 vehicles delivered in April, representing an increase of more than 125% year-over-year. NIO has also maintained positive cash flows from operating activities for the first quarter of 2021, thanks to the higher deliveries and effective cost-management measures which have amped up their gross profit margin to 19.5%, comparable with industry leaders like Tesla whose first quarter gross margins were 21%. As aforementioned, we are forecasting vehicle sales of close to 300,000 units by FY 2025, which translates to approximately RMB 140 billion ($22 billion) in total revenues ($18.60 per share). Our vehicle sales forecast for FY 2025 is further corroborated by the&nbsp;recently renewed manufacturing agreement&nbsp;with joint venturer “Jianghuai Automobile Group” (“JAC”), which increases the current annual production capacity of 100,000 units to 240,000 units; the ongoing construction of “NeoPark” in Hefei, China is also expected to add annual production capacity of 1 million units, which further supports our positive outlook on NIO’s continued commitment to grow its business. Considering industry peer Tesla’s current P/S ratio of 16.43x with approximately $42 billion in annual revenues (annualization of $10.389 billion in first quarter revenues), the same proportion applied to NIO’s forecasted FY 2025 total revenues is expected to yield a P/S ratio of 8.7x, resulting in a share price of more than $160.</p><p><blockquote>自今年早些时候股价在2月底成长型股票遭到抛售之前见顶以来，蔚来的基本面也只显示出稳步改善。2021年的交付量继续呈指数级增长，第一季度交付量超过20,000辆，几乎占2020年总交付量的50%。该公司继续展现出乐观的前景，4月份交付了超过7,100辆汽车，同比增长超过125%。得益于更高的交付量和有效的成本管理措施，蔚来在2021年第一季度的经营活动中也保持了正现金流，这些措施将其毛利率提高至19.5%，与特斯拉等行业领导者的毛利率相当。第一季度毛利率为21%。如上所述，我们预计到2025财年汽车销量将接近30万辆，这意味着总收入约为1400亿元人民币（220亿美元）（每股18.60美元）。我们最近与合资企业“江淮汽车集团”（“江淮汽车”）续签的制造协议进一步证实了我们对2025财年的汽车销售预测，该协议将目前100,000辆的年产能提高到240,000辆；正在建设中的“NeoPark”亦预期将新增100万台的年产能，这进一步支持了我们对蔚来继续致力于发展其业务的积极展望。考虑到行业同行特斯拉目前的市盈率为16.43倍，年收入约为420亿美元（第一季度收入年化为103.89亿美元），将相同比例应用于蔚来预测的2025财年总收入预计将产生市盈率8.7倍，股价超过160美元。</blockquote></p><p> <b>NIO vs. LI and XPEV</b></p><p><blockquote><b>蔚来vs.LI和XPEV</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/af8fa939f92be448d1f427a6ac4bfb25\" tg-width=\"640\" tg-height=\"352\"><span>Source: Finviz</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Finviz</span></p></blockquote></p><p> We have also compared NIO’s current P/S ratio to its domestic peers to gauge the timeline in which NIO’s share price will exceed $100. NIO currently trades at a P/S ratio of approximately 14.88x, while domestic industry peers, Li Auto(NASDAQ:LI)and XPEV, currently trade at a P/S ratio of 14.46x and 21.31x, respectively.</p><p><blockquote>我们还将蔚来目前的市盈率与其国内同行进行了比较，以衡量蔚来股价突破100美元的时间表。蔚来目前的市盈率约为14.88倍，而国内行业同行理想汽车（纳斯达克：LI）和XPEV目前的市盈率分别为14.46倍和21.31倍。</blockquote></p><p></p><p> Considering NIO’s technology, revenues, global footprint, and cash flows are stronger than LI’s and XPEV’s, the former deserves to be traded at a much higher multiple than the latter two. Even if NIO reaches a P/S ratio of 18.1x (mid-point to XPEV's), it will drive the company’s current share price up to $51.50, which represents an upside potential of 22% based on the last traded share price of $42.34 (June 1st). And based on our forecasted revenues for FY 2025 for NIO of RMB 140 billion ($22 billion), or $18.60 per share, even a multiple half of the 18.1x would be more than sufficient to bring NIO's share price beyond $160 by 2025; we believe the trading multiple is achievable for NIO given the cash from operations and technological advancements achieved by then would place them on a trajectory of continued long-term growth within the EV industry, which is expected to continue into 2030 and beyond when the brand's level 4 autonomous driving technology development is complete and commercialized.</p><p><blockquote>考虑到蔚来的技术、收入、全球足迹和现金流都强于LI和XPEV，前者的市盈率应该远高于后两者。即使蔚来的市盈率达到18.1倍（XPEV的中点），也将推动该公司当前股价上涨至51.50美元，基于上次交易股价42.34美元（6月1日），这意味着22%的上涨潜力。根据我们对蔚来2025财年收入1400亿元人民币（220亿美元）或每股18.60美元的预测，即使是18.1倍的一半也足以使蔚来的股价在2025年突破160美元；我们认为，蔚来的交易倍数是可以实现的，因为届时从运营中获得的现金和技术进步将使其走上电动汽车行业持续长期增长的轨道，预计这种增长将持续到2030年及以后，届时该品牌的4级自动驾驶技术开发完成并商业化。</blockquote></p><p> <b>Business Risks and Challenges</b></p><p><blockquote><b>业务风险及挑战</b></blockquote></p><p> As mentioned in one of my&nbsp;previous articles on NIO, the “Holding Foreign Companies Accountable Act” (“HFCA Act”) remains one of the most significant impending threats to the company’s share price. Currently, public accounting firms in China are non-compliant with PCAOB inspection rules required by the SEC, and the enactment of the HFCA Act in December 2020 requires that these public accounting firms comply with PCAOB inspection requests within three years of the enactment date; otherwise, all public companies audited by said firms will be subject to risks of de-listing. NIO is currently audited by PricewaterhouseCoopers Zhong Tian LLP, which is on PCAOB’s&nbsp;denied-access list. The potential threat of being delisted from the NYSE could be a deterrence factor to investors and ultimately hemorrhage NIO’s share price in the long run if Chinese authorities and the PCAOB cannot reach an agreement on conducting inspections soon.</p><p><blockquote>正如我在之前关于蔚来的一篇文章中提到的，《外国公司问责法》（“HFCA法案”）仍然是公司股价面临的最重大威胁之一。目前，中国的公共会计师事务所不符合SEC要求的PCAOB检查规则，2020年12月HFCA法案的颁布要求这些公共会计师事务所在颁布之日起三年内遵守PCAOB的检查要求；否则，上述事务所审计的所有上市公司都将面临退市风险。蔚来目前由普华永道中天会计师事务所（LLP）进行审计，该事务所被列入PCAOB的拒绝访问名单。如果中国当局和PCAOB不能很快就进行检查达成协议，从纽约证券交易所退市的潜在威胁可能会成为投资者的威慑因素，并最终导致蔚来股价长期下跌。</blockquote></p><p> Another imminent challenge to NIO’s business is the ongoing global chip supply shortage. As the automotive industry becomes more dependent on chips to manage every function of their vehicles, the gap between automaker demands and chip manufacturer supplies is widened. NIO was no exception to the impacts of the ongoing chip supply crisis – in March 2021, NIO halted their production activity at the JAC-NIO manufacturing plant for five working days in order to adjust their production levels. However, the company continues to effectively navigate through the situation as proven through their increasing number of deliveries month-over-month; in NIO’s latest delivery update press release for April, the company has continued to keep up with market demand with more than 7,100 vehicle deliveries made, representing a 125% year-over-year growth.</p><p><blockquote>蔚来业务面临的另一个迫在眉睫的挑战是持续的全球芯片供应短缺。随着汽车行业越来越依赖芯片来管理车辆的每一项功能，汽车制造商的需求和芯片制造商的供应之间的差距越来越大。蔚来也不例外地受到持续的芯片供应危机的影响——2021年3月，蔚来停止了江淮蔚来制造工厂的生产活动五个工作日，以调整生产水平。然而，该公司继续有效地应对这种情况，交付量逐月增加就证明了这一点；在蔚来4月份最新的交付更新新闻稿中，该公司继续满足市场需求，交付了超过7,100辆汽车，同比增长125%。</blockquote></p><p> Competition within the EV sector has also ramped up in recent years. Consumer attitude towards EVs has changed drastically in the past decade due to rising concerns over climate change met with price parity between traditional petrol-fueled vehicles and EVs. The entry barrier for emerging EV makers has also lowered significantly as car battery solutions become more accessible through third-party OEMs; new entrants are now keener on participating in the profitable opportunity within the growing EV sector as initial investments become more reasonable than it was for Tesla in 2003 when EVs were still just a concept to many. In addition to new entrants, traditional petrol-fueled automakers like Ford(NYSE:F)have also started to incorporate fully battery-powered vehicles into their fleet in order to meet evolving consumer demands and remain competitive within the automotive industry. However, we believe NIO possesses the brand, customer experience, production strategy, talent and business model (further analyzedhere) needed to remain successful within the new competitive landscape in the long run.</p><p><blockquote>近年来，电动汽车行业的竞争也愈演愈烈。在过去十年中，由于对气候变化的日益担忧以及传统汽油燃料汽车和电动汽车之间的价格平价，消费者对电动汽车的态度发生了巨大变化。随着第三方原始设备制造商更容易获得汽车电池解决方案，新兴电动汽车制造商的进入门槛也大幅降低；随着初始投资变得比2003年特斯拉更加合理，新进入者现在更热衷于参与不断增长的电动汽车行业的盈利机会，当时电动汽车对许多人来说仍然只是一个概念。除了新进入者之外，福特（纽约证券交易所股票代码：F）等传统汽油燃料汽车制造商也开始将全电池驱动的汽车纳入其车队，以满足不断变化的消费者需求并保持在汽车行业内的竞争力。然而，我们相信蔚来拥有在新的竞争格局中长期保持成功所需的品牌、客户体验、生产战略、人才和商业模式（此处进一步分析）。</blockquote></p><p> <b>Conclusion</b></p><p><blockquote><b>结论</b></blockquote></p><p> NIO has already established a strong brand presence within the domestic Chinese market, which is currently one of the fastest growing EV markets, representing more than 40% of global EV sales in 2020. Combined with their proven ability to produce quality EVs, construct innovative charging infrastructure, achieve breakthrough progress in the development of autonomous driving technology, and execute their overseas expansion strategy, NIO is effectively narrowing the gap between them and Tesla within the EV sector on a global scale. We are confident that the next five years will be a transformational era for the EV and tech company due to increasing demands for electrification and automation within the automotive industry, which NIO has already proven to excel in. The value of its continued achievements will be reflected in its share price in no time, making them a worthy stock pick for those looking to profit off of the impending age of green transition and automation.</p><p><blockquote>蔚来已经在中国国内市场建立了强大的品牌影响力，中国国内市场是目前增长最快的电动汽车市场之一，2020年占全球电动汽车销量的40%以上。结合其生产优质电动汽车、建设创新充电基础设施、在自动驾驶技术开发方面取得突破性进展以及执行海外扩张战略的能力，蔚来正在有效缩小与特斯拉在全球电动汽车领域的差距。我们相信，由于汽车行业对电气化和自动化的需求不断增长，未来五年将是电动汽车和科技公司的转型时代，蔚来已经证明在这方面表现出色。其持续成就的价值将很快反映在其股价中，对于那些希望从即将到来的绿色转型和自动化时代中获利的人来说，这使其成为值得选择的股票。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4432901-nio-stock-reach-100\">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":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4432901-nio-stock-reach-100","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148130971","content_text":"Summary\n\nNIO's share price has soared by more than 816% in the past year, peaking at almost $62 in early February before the growth stock sell-off in early March.\nThe company's innovative approach and overseas expansion strategy, combined with the growing market sentiment on global electrification and automation are expected to boost the company's valuation.\nWe believe NIO's share price will soar beyond $160 by 2025 as global EV sales continue to ramp up with autonomous driving becoming a reality.\n\nPhoto by Drew Angerer/Getty Images News via Getty Images\nDespite it being a local Chinese electric vehicle (“EV”) brand that has only recently started its overseas expansion into Europe, NIO(NYSE:NIO)has already garnered significant international attention amidst avid investors within the EV sector in recent years. It has only been three short years since NIO made its first deliveries in mid-2018, yet many are already wondering whether its share price can reach similar heights as an industry leader, Tesla’s(NASDAQ:TSLA). Albeit a little farfetched given Tesla is currently trading at more than $600 per share with a market cap of more than $600 billion, we do believe NIO has promising potential to break $100 per share before 2025. Even Wall Street Analysts remain optimistic about the company’s future by assigning a price target of close to $60, which represents upward potential of more than 35% based on the last traded share price of $42.34 (June 1st).\nFounded in 2014, NIO has sold and delivered more than 100,000 vehicles in China to date. The company boasts a fleet of five emission-free, fully battery-powered models, ranging from sports cars to luxury sedans and full-size SUVs. In addition to their vehicles, NIO is also known for their significant progress achieved in innovative technology, including state-of-the-art battery solutions, artificial intelligence, and autonomous driving. The company has also recently turned their global expansion plans into reality, with the first overseas NIO store to open in Oslo, Norway in Q3 2021. We believe that reaching a share price of $100 is no longer a question of “if”, but instead, “when”.\nA Trailblazer in Innovative Technology\nSource:ir.nio.com\nNIO has continuously exhibited characteristics of an unsettling innovator. The brand is widely known for their breakthrough in battery swapping technology, “Power Swap”, which provides NIO owners with a fast and convenient solution to concerns over the typically limited travel range of EVs. Similar to a gas station, Power Swap is a battery swapping station that can swap a dead battery out for a fully charged one in under three minutes; a fully charged battery enables a NIO vehicle to travel up to 435 miles, which is more than double of the 181-mile average travel range of electric vehicles currently available on the market. NIO owners have the option to subscribe to the“Battery as a Service” (“BaaS”)package, which is a monthly subscription service that provides NIO owners with flexible options for battery upgrades based on personal needs. The company currently offers a standard 75 kWh battery which enables a travel range of up to 310 miles on a full charge, and an enhanced 100 kWh battery which enables a travel range of up to 435 miles on a full charge; both are available for NIO owners to choose from on a month-to-month basis under BaaS. To date, there are more than 226 battery swapping stations across China, with more on the way following a recent strategic partnership agreement between NIO and Sinopec. NIO’s vehicles are also compatible with local competitor XPeng’s(NYSE:XPEV)1,140 vehicle charging stations available across 164 cities in China, which further enhances its existing network of charging infrastructure in place for NIO owners.\nIn addition to the developed network of infrastructure needed to sustain NIO EVs in the long run, the company has also been working diligently on perfecting their autonomous driving and AI technology in order to remain competitive in the broader EV and tech space. NIO has already been performing testing on its autonomous driving systems since 2016, with their first testing on public roads in Beijing performed in 2018. The company’s commitment to the future of passenger transportation is also proven through their development of EVE, the brand’s concept car for autonomous driving which encompasses a luxurious, comfortable and safe experience powered by NIO’s NOMI AI, the world’s first in-vehicle artificial intelligence.\nTo further enhance their progress in autonomous driving technology, NIO has recently partnered with Mobileye – an Intel-owned(NASDAQ:INTC)company known for developing the “EyeQ chip” currently used by more than 27 car manufacturers for their assisted-driving technologies – to develop and commercialize driving automation that does not require human interaction (i.e. “level 4” autonomous driving). Their collaboration is expected to accelerate NIO’s launch of the “Autonomous Driving as a Service” (“ADaaS”) package, which is a monthly subscription for their autonomous driving technology, “NIO Autonomous Driving” (“NAD”). However, similar to Tesla’s “Full Self-Driving” package, the NAD technology that is expected to launch in 2022 does not yet make NIO vehicles capable of driving without human intervention, but it does catapult NIO to a comparable spot with industry leader Tesla in the race towards level 4 autonomous driving. NIO owners will have the option to subscribe to ADaaS for a monthly subscription fee of RMB 680. With more than 102,000 NIO vehicles on the road today, the new subscription package is expected to generate incremental annual sales of RMB 840 million ($132 million); the additional revenue stream is valued at approximately RMB 10 billion ($1.6 billion) upon the service’s inception, assuming an average vehicle life of 12 years with most existing NIO owners signing up.\nNIO’s continuous developments in autonomous driving technology are expected to benefit the company and its shareholders greatly in the near future. By 2025, the global autonomous cars market will become one of the fastest growing and most highly demanded segments with an estimated value of $1.6 trillion. A 6% share of this market would add a valuation of at least $100 billion to NIO’s existing $67 billion market cap, boosting its per unit share value to more than $100. Considering NIO is currently one of the very few fully electric automakers to have achieved tangible results within the autonomous driving scene, and is actively growing its overseas sales, we are confident that the company is capable of capturing more than 6% of the said market share, and achieve a per unit share price of more than $100 by 2025 with ease. Combined with the global shift in consumer preference towards electrification and automation, we are projecting vehicle sales of approximately 300,000 units by FY 2025, which will yield total revenues of approximately RMB 140 billion ($22 billion).\nSource: Author, with data from our internal forecasts (NIO_-_Forecasted_Financial_Information.pdf).\nGlobal Expansion\nSource: ir.nio.com\nAnother catalyst that will propel NIO’s share price beyond $100 is their ongoing overseas expansion efforts. NIO has been transparent about their intentions to expand globally, especially in the U.S. and Europe, as part of their plans in becoming an industry leader. NIO will be opening its first overseas sales and service centre in Oslo, Norway in September. The brand’s footprint in Norway will further expand in 2022 with four more NIO stores to open in Bergen, Stavanger, Trondheim and Kristiansand. In addition to its direct sales and service centres, NIO will also be introducing a full charging map for Europe, starting with four NIO Power Swap stations in Norway to provide new NIO owners with the convenience and range that the brand builds its success on. NIO’s flagship SUV, the ES8, which currently retails at a starting price of approximately US$67,000, will be the first model introduced in the European market, with the brand’s newest full-size sedan, the ET7, to follow in 2022.\nWith a proven sales track record in China’s luxury EV market, and specs comparable to the globally recognized Tesla, there is no reason for NIO to not succeed overseas. As mentioned in earlier sections, NIO’s vehicles have a driving range of up to 435 miles on a full charge, making it a desirable choice for potential European and American car owners looking for a reliable companion to accompany them on daily commutes to long road trips. The NIO exterior and interior designs are also modern, luxurious, and comparable to those preferred by the European and North American population. Combined with a diverse product line and price range, NIO is equipped to take on the increasing demands for EVs on a global scale.\nNIO’s Historical Performance\nJust a little more than a year ago, NIO’s share price hit an all-time low at under $2 amidst liquidity troubles despite continued vehicle sales. In mid-2020, the municipal government of Hefei, China came to NIO’s rescue with a capital injection of RMB 7 billion (approximately $1 billion). The arrangement resulted in the creation of “NIO China”, which serves as the operating entity that holds all of NIO’s core businesses and assets; NIO currently holds a 90.36% ownership interest in NIO China, while the “Hefei Strategic Investors” consortium holds the remainder 9.64%. The partnership became the company’s lifeline; the additional capital brought forth significant improvements to the company’s operations and vehicle sales, which were reflected in their strong financial performance and upward trend in share price in the summer of 2020. By the end of 2020’s second quarter, NIO’s share price rebounded by almost 20% on average after posting a 171% quarter-over-quarter increase in total revenues. The company’s share price more than tripled in 2020’s third quarter, averaging $15.40, and continued to climb towards its fourth quarter average of $38.70. By the end of the latest quarter ended March 31st, 2021, NIO’s share price averaged $50.97, and peaked at almost $62 in February which is more than 10x its IPO price in 2018. The company holds a market cap of more than $67 billion today, outgrowing its mere $1 billion market cap when it made its debut on the NYSE.\nSource: Author, with data from ir.nio.com\nNIO’s fundamentals have also shown nothing but steady improvements since its share price peaked earlier this year before the growth stock sell-off in late February. Deliveries in 2021 have continued to accelerate exponentially, with first quarter deliveries of more than 20,000 vehicles, representing almost 50% of total deliveries made in 2020. The company continues to exhibit a promising outlook with more than 7,100 vehicles delivered in April, representing an increase of more than 125% year-over-year. NIO has also maintained positive cash flows from operating activities for the first quarter of 2021, thanks to the higher deliveries and effective cost-management measures which have amped up their gross profit margin to 19.5%, comparable with industry leaders like Tesla whose first quarter gross margins were 21%. As aforementioned, we are forecasting vehicle sales of close to 300,000 units by FY 2025, which translates to approximately RMB 140 billion ($22 billion) in total revenues ($18.60 per share). Our vehicle sales forecast for FY 2025 is further corroborated by the recently renewed manufacturing agreement with joint venturer “Jianghuai Automobile Group” (“JAC”), which increases the current annual production capacity of 100,000 units to 240,000 units; the ongoing construction of “NeoPark” in Hefei, China is also expected to add annual production capacity of 1 million units, which further supports our positive outlook on NIO’s continued commitment to grow its business. Considering industry peer Tesla’s current P/S ratio of 16.43x with approximately $42 billion in annual revenues (annualization of $10.389 billion in first quarter revenues), the same proportion applied to NIO’s forecasted FY 2025 total revenues is expected to yield a P/S ratio of 8.7x, resulting in a share price of more than $160.\nNIO vs. LI and XPEV\nSource: Finviz\nWe have also compared NIO’s current P/S ratio to its domestic peers to gauge the timeline in which NIO’s share price will exceed $100. NIO currently trades at a P/S ratio of approximately 14.88x, while domestic industry peers, Li Auto(NASDAQ:LI)and XPEV, currently trade at a P/S ratio of 14.46x and 21.31x, respectively.\nConsidering NIO’s technology, revenues, global footprint, and cash flows are stronger than LI’s and XPEV’s, the former deserves to be traded at a much higher multiple than the latter two. Even if NIO reaches a P/S ratio of 18.1x (mid-point to XPEV's), it will drive the company’s current share price up to $51.50, which represents an upside potential of 22% based on the last traded share price of $42.34 (June 1st). And based on our forecasted revenues for FY 2025 for NIO of RMB 140 billion ($22 billion), or $18.60 per share, even a multiple half of the 18.1x would be more than sufficient to bring NIO's share price beyond $160 by 2025; we believe the trading multiple is achievable for NIO given the cash from operations and technological advancements achieved by then would place them on a trajectory of continued long-term growth within the EV industry, which is expected to continue into 2030 and beyond when the brand's level 4 autonomous driving technology development is complete and commercialized.\nBusiness Risks and Challenges\nAs mentioned in one of my previous articles on NIO, the “Holding Foreign Companies Accountable Act” (“HFCA Act”) remains one of the most significant impending threats to the company’s share price. Currently, public accounting firms in China are non-compliant with PCAOB inspection rules required by the SEC, and the enactment of the HFCA Act in December 2020 requires that these public accounting firms comply with PCAOB inspection requests within three years of the enactment date; otherwise, all public companies audited by said firms will be subject to risks of de-listing. NIO is currently audited by PricewaterhouseCoopers Zhong Tian LLP, which is on PCAOB’s denied-access list. The potential threat of being delisted from the NYSE could be a deterrence factor to investors and ultimately hemorrhage NIO’s share price in the long run if Chinese authorities and the PCAOB cannot reach an agreement on conducting inspections soon.\nAnother imminent challenge to NIO’s business is the ongoing global chip supply shortage. As the automotive industry becomes more dependent on chips to manage every function of their vehicles, the gap between automaker demands and chip manufacturer supplies is widened. NIO was no exception to the impacts of the ongoing chip supply crisis – in March 2021, NIO halted their production activity at the JAC-NIO manufacturing plant for five working days in order to adjust their production levels. However, the company continues to effectively navigate through the situation as proven through their increasing number of deliveries month-over-month; in NIO’s latest delivery update press release for April, the company has continued to keep up with market demand with more than 7,100 vehicle deliveries made, representing a 125% year-over-year growth.\nCompetition within the EV sector has also ramped up in recent years. Consumer attitude towards EVs has changed drastically in the past decade due to rising concerns over climate change met with price parity between traditional petrol-fueled vehicles and EVs. The entry barrier for emerging EV makers has also lowered significantly as car battery solutions become more accessible through third-party OEMs; new entrants are now keener on participating in the profitable opportunity within the growing EV sector as initial investments become more reasonable than it was for Tesla in 2003 when EVs were still just a concept to many. In addition to new entrants, traditional petrol-fueled automakers like Ford(NYSE:F)have also started to incorporate fully battery-powered vehicles into their fleet in order to meet evolving consumer demands and remain competitive within the automotive industry. However, we believe NIO possesses the brand, customer experience, production strategy, talent and business model (further analyzedhere) needed to remain successful within the new competitive landscape in the long run.\nConclusion\nNIO has already established a strong brand presence within the domestic Chinese market, which is currently one of the fastest growing EV markets, representing more than 40% of global EV sales in 2020. Combined with their proven ability to produce quality EVs, construct innovative charging infrastructure, achieve breakthrough progress in the development of autonomous driving technology, and execute their overseas expansion strategy, NIO is effectively narrowing the gap between them and Tesla within the EV sector on a global scale. We are confident that the next five years will be a transformational era for the EV and tech company due to increasing demands for electrification and automation within the automotive industry, which NIO has already proven to excel in. The value of its continued achievements will be reflected in its share price in no time, making them a worthy stock pick for those looking to profit off of the impending age of green transition and automation.","news_type":1,"symbols_score_info":{"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":1161,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190162659,"gmtCreate":1620606612571,"gmtModify":1631891725248,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575346220147121","authorIdStr":"3575346220147121"},"themes":[],"htmlText":"Pls like and comment&nbsp;","listText":"Pls like and comment&nbsp;","text":"Pls like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/190162659","repostId":"2134686276","repostType":4,"isVote":1,"tweetType":1,"viewCount":558,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108698178,"gmtCreate":1620016226794,"gmtModify":1631893896138,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575346220147121","authorIdStr":"3575346220147121"},"themes":[],"htmlText":"Please like and comment thanks","listText":"Please like and comment thanks","text":"Please like and comment thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/108698178","repostId":"1121605010","repostType":4,"isVote":1,"tweetType":1,"viewCount":507,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":101128649,"gmtCreate":1619865168681,"gmtModify":1631893896184,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575346220147121","authorIdStr":"3575346220147121"},"themes":[],"htmlText":"Please like and comment&nbsp;","listText":"Please like and comment&nbsp;","text":"Please like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/101128649","repostId":"1142063705","repostType":4,"isVote":1,"tweetType":1,"viewCount":206,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":374794932,"gmtCreate":1619480524226,"gmtModify":1631893896234,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575346220147121","authorIdStr":"3575346220147121"},"themes":[],"htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/374794932","repostId":"1184404050","repostType":4,"isVote":1,"tweetType":1,"viewCount":540,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":364160233,"gmtCreate":1614824077922,"gmtModify":1703481600270,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575346220147121","authorIdStr":"3575346220147121"},"themes":[],"htmlText":"Please comment thanks!","listText":"Please comment thanks!","text":"Please comment thanks!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/364160233","repostId":"1107788140","repostType":4,"repost":{"id":"1107788140","kind":"news","pubTimestamp":1614816795,"share":"https://www.laohu8.com/m/news/1107788140?lang=zh_CN&edition=full","pubTime":"2021-03-04 08:13","market":"us","language":"en","title":"Wall Street drops as high-flying tech stocks retreat<blockquote>随着飙升的科技股回落，华尔街下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1107788140","media":"Reuters","summary":"(Reuters) - The Nasdaq ended sharply lower on Wednesday after investors sold high-flying technology ","content":"<p>(Reuters) - The Nasdaq ended sharply lower on Wednesday after investors sold high-flying technology shares and pivoted to sectors viewed as more likely to benefit from an economic recovery on the back of fiscal stimulus and vaccination programs.</p><p><blockquote>（路透社）-纳斯达克周三大幅收低，此前投资者抛售股价飙升的科技股，转向被视为更有可能从财政刺激和疫苗接种计划推动的经济复苏中受益的行业。</blockquote></p><p>Microsoft Corp, Apple Inc and Amazon.com Inc dropped more than 2%, weighing more than any other stocks on the S&amp;P 500.</p><p><blockquote>微软公司、苹果公司和亚马逊公司跌幅超过2%，跌幅超过标普500任何其他股票。</blockquote></p><p>The S&amp;P 500 financial and industrial sector indexes reached intra-day record highs. Most other S&amp;P 500 sectors declined.</p><p><blockquote>标普500金融和工业板块指数创盘中历史新高。其他标普500板块多数下跌。</blockquote></p><p>“Today is the perfect encapsulation of the big theme we’ve been seeing in the past couple of months: The vaccine rollout is going well and the economy improving, and that is sending yields and rate expectations higher, which is hurting growth stocks,” said Baird investment strategist Ross Mayfield, in Louisville, Kentucky.</p><p><blockquote>“今天是我们过去几个月看到的大主题的完美概括：疫苗推出进展顺利，经济正在改善，这导致收益率和利率预期走高，这损害了成长型股票，”贝尔德投资策略师罗斯·梅菲尔德(Ross Mayfield)在肯塔基州路易斯维尔说道。</blockquote></p><p>The Dow Jones Industrial Average fell 0.39% to end at 31,270.09 points, while the S&amp;P 500 lost 1.31% to 3,819.72.</p><p><blockquote>道琼斯工业平均指数下跌0.39%，收于31,270.09点；标普500下跌1.31%，收于3,819.72点。</blockquote></p><p>The Nasdaq Composite dropped 2.7% to 12,997.75. That left it at its lowest since early January and reduced its gain in 2021 to less than 1%.</p><p><blockquote>纳斯达克综合指数下跌2.7%，至12,997.75点。这使其处于1月初以来的最低水平，并使2021年的涨幅降至不到1%。</blockquote></p><p>The U.S. economic recovery continued at a modest pace over the first weeks of this year, with businesses optimistic about the months to come and demand for housing “robust,” but only slow improvement in the job market, the Federal Reserve reported.</p><p><blockquote>美联储报告称，今年头几周，美国经济继续温和复苏，企业对未来几个月持乐观态度，住房需求“强劲”，但就业市场改善缓慢。</blockquote></p><p>While the vaccine distribution is expected to help the economy, data showed U.S. private employers hired fewer workers than expected in February, suggesting the labor market was struggling to regain speed.</p><p><blockquote>虽然疫苗分发预计将有助于经济，但数据显示，美国私营雇主2月份雇用的工人少于预期，这表明劳动力市场正在努力恢复增长。</blockquote></p><p>Another report showed U.S. services industry activity unexpectedly slowed in February amid winter storms, while a measure of prices paid by companies for inputs surged to the highest level in nearly 12-1/2 years.</p><p><blockquote>另一份报告显示，由于冬季风暴，美国服务业活动在2月份意外放缓，而衡量企业为投入支付的价格的指标飙升至近12-1/2年来的最高水平。</blockquote></p><p>The U.S. 10-year Treasury yield ticked up to 1.47%, pressuring areas of the market with high valuations. It was still off last week’s peak of above 1.61% that roiled stock markets as investors bet on rising inflation.</p><p><blockquote>美国10年期国债收益率升至1.47%，给市场高估值领域带来压力。由于投资者押注通胀上升，该指数仍低于上周1.61%以上的峰值，该峰值扰乱了股市。</blockquote></p><p>Rising interest rates disproportionately hurt high-growth tech companies because investors value them based on earnings expected years into the future, and high interest rates hurt the value of future earnings more than the value of earnings made in the short term.</p><p><blockquote>利率上升对高增长科技公司的伤害尤其大，因为投资者根据未来几年的预期收益对它们进行估值，而高利率对未来收益价值的伤害大于短期收益价值。</blockquote></p><p>“There is a definite headwind for equity markets if yields go above the 1.5% level with most investors keeping an eye on the pace of yield growth,” said Michael Stritch, chief investment officer at BMO Wealth Management.</p><p><blockquote>BMO财富管理公司首席投资官迈克尔·斯特里奇(Michael Stritch)表示：“如果收益率超过1.5%的水平，股市肯定会面临阻力，因为大多数投资者都在关注收益率增长的步伐。”</blockquote></p><p>President Joe Biden’s proposed $1.9 trillion coronavirus relief bill would phase out $1,400 payments to high-income Americans in a compromise with moderate Democratic senators, according to lawmakers and media reports.</p><p><blockquote>据议员和媒体报道，乔·拜登总统提出的1.9万亿美元冠状病毒救助法案将逐步取消向高收入美国人支付1400美元，这是与温和派民主党参议员的妥协。</blockquote></p><p>Exxon Mobil Corp rose 0.8% after the oil major unveiled plans to grow dividends and curb spending with projections that were less bold than previous years.</p><p><blockquote>埃克森美孚公司(Exxon Mobil Corp)股价上涨0.8%，此前这家石油巨头公布了增加股息和抑制支出的计划，但预测不如往年大胆。</blockquote></p><p>Declining issues outnumbered advancing ones on the NYSE by a 1.31-to-1 ratio; on Nasdaq, a 1.95-to-1 ratio favored decliners.</p><p><blockquote>纽约证券交易所下跌股与上涨股的比例为1.31比1；在纳斯达克，1.95比1的比率有利于下跌股。</blockquote></p><p>The S&amp;P 500 posted 62 new 52-week highs and no new lows; the Nasdaq Composite recorded 284 new highs and 68 new lows.</p><p><blockquote>标普500创下62个52周新高，无新低；纳斯达克综合指数录得284个新高和68个新低。</blockquote></p><p>Volume on U.S. exchanges was 14 billion shares, compared with the 14.9 billion average for the full session over the last 20 trading days.</p><p><blockquote>美国交易所的成交量为140亿股，而过去20个交易日的平均成交量为149亿股。</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>Wall Street drops as high-flying tech stocks retreat<blockquote>随着飙升的科技股回落，华尔街下跌</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\">\nWall Street drops as high-flying tech stocks retreat<blockquote>随着飙升的科技股回落，华尔街下跌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-03-04 08:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(Reuters) - The Nasdaq ended sharply lower on Wednesday after investors sold high-flying technology shares and pivoted to sectors viewed as more likely to benefit from an economic recovery on the back of fiscal stimulus and vaccination programs.</p><p><blockquote>（路透社）-纳斯达克周三大幅收低，此前投资者抛售股价飙升的科技股，转向被视为更有可能从财政刺激和疫苗接种计划推动的经济复苏中受益的行业。</blockquote></p><p>Microsoft Corp, Apple Inc and Amazon.com Inc dropped more than 2%, weighing more than any other stocks on the S&amp;P 500.</p><p><blockquote>微软公司、苹果公司和亚马逊公司跌幅超过2%，跌幅超过标普500任何其他股票。</blockquote></p><p>The S&amp;P 500 financial and industrial sector indexes reached intra-day record highs. Most other S&amp;P 500 sectors declined.</p><p><blockquote>标普500金融和工业板块指数创盘中历史新高。其他标普500板块多数下跌。</blockquote></p><p>“Today is the perfect encapsulation of the big theme we’ve been seeing in the past couple of months: The vaccine rollout is going well and the economy improving, and that is sending yields and rate expectations higher, which is hurting growth stocks,” said Baird investment strategist Ross Mayfield, in Louisville, Kentucky.</p><p><blockquote>“今天是我们过去几个月看到的大主题的完美概括：疫苗推出进展顺利，经济正在改善，这导致收益率和利率预期走高，这损害了成长型股票，”贝尔德投资策略师罗斯·梅菲尔德(Ross Mayfield)在肯塔基州路易斯维尔说道。</blockquote></p><p>The Dow Jones Industrial Average fell 0.39% to end at 31,270.09 points, while the S&amp;P 500 lost 1.31% to 3,819.72.</p><p><blockquote>道琼斯工业平均指数下跌0.39%，收于31,270.09点；标普500下跌1.31%，收于3,819.72点。</blockquote></p><p>The Nasdaq Composite dropped 2.7% to 12,997.75. That left it at its lowest since early January and reduced its gain in 2021 to less than 1%.</p><p><blockquote>纳斯达克综合指数下跌2.7%，至12,997.75点。这使其处于1月初以来的最低水平，并使2021年的涨幅降至不到1%。</blockquote></p><p>The U.S. economic recovery continued at a modest pace over the first weeks of this year, with businesses optimistic about the months to come and demand for housing “robust,” but only slow improvement in the job market, the Federal Reserve reported.</p><p><blockquote>美联储报告称，今年头几周，美国经济继续温和复苏，企业对未来几个月持乐观态度，住房需求“强劲”，但就业市场改善缓慢。</blockquote></p><p>While the vaccine distribution is expected to help the economy, data showed U.S. private employers hired fewer workers than expected in February, suggesting the labor market was struggling to regain speed.</p><p><blockquote>虽然疫苗分发预计将有助于经济，但数据显示，美国私营雇主2月份雇用的工人少于预期，这表明劳动力市场正在努力恢复增长。</blockquote></p><p>Another report showed U.S. services industry activity unexpectedly slowed in February amid winter storms, while a measure of prices paid by companies for inputs surged to the highest level in nearly 12-1/2 years.</p><p><blockquote>另一份报告显示，由于冬季风暴，美国服务业活动在2月份意外放缓，而衡量企业为投入支付的价格的指标飙升至近12-1/2年来的最高水平。</blockquote></p><p>The U.S. 10-year Treasury yield ticked up to 1.47%, pressuring areas of the market with high valuations. It was still off last week’s peak of above 1.61% that roiled stock markets as investors bet on rising inflation.</p><p><blockquote>美国10年期国债收益率升至1.47%，给市场高估值领域带来压力。由于投资者押注通胀上升，该指数仍低于上周1.61%以上的峰值，该峰值扰乱了股市。</blockquote></p><p>Rising interest rates disproportionately hurt high-growth tech companies because investors value them based on earnings expected years into the future, and high interest rates hurt the value of future earnings more than the value of earnings made in the short term.</p><p><blockquote>利率上升对高增长科技公司的伤害尤其大，因为投资者根据未来几年的预期收益对它们进行估值，而高利率对未来收益价值的伤害大于短期收益价值。</blockquote></p><p>“There is a definite headwind for equity markets if yields go above the 1.5% level with most investors keeping an eye on the pace of yield growth,” said Michael Stritch, chief investment officer at BMO Wealth Management.</p><p><blockquote>BMO财富管理公司首席投资官迈克尔·斯特里奇(Michael Stritch)表示：“如果收益率超过1.5%的水平，股市肯定会面临阻力，因为大多数投资者都在关注收益率增长的步伐。”</blockquote></p><p>President Joe Biden’s proposed $1.9 trillion coronavirus relief bill would phase out $1,400 payments to high-income Americans in a compromise with moderate Democratic senators, according to lawmakers and media reports.</p><p><blockquote>据议员和媒体报道，乔·拜登总统提出的1.9万亿美元冠状病毒救助法案将逐步取消向高收入美国人支付1400美元，这是与温和派民主党参议员的妥协。</blockquote></p><p>Exxon Mobil Corp rose 0.8% after the oil major unveiled plans to grow dividends and curb spending with projections that were less bold than previous years.</p><p><blockquote>埃克森美孚公司(Exxon Mobil Corp)股价上涨0.8%，此前这家石油巨头公布了增加股息和抑制支出的计划，但预测不如往年大胆。</blockquote></p><p>Declining issues outnumbered advancing ones on the NYSE by a 1.31-to-1 ratio; on Nasdaq, a 1.95-to-1 ratio favored decliners.</p><p><blockquote>纽约证券交易所下跌股与上涨股的比例为1.31比1；在纳斯达克，1.95比1的比率有利于下跌股。</blockquote></p><p>The S&amp;P 500 posted 62 new 52-week highs and no new lows; the Nasdaq Composite recorded 284 new highs and 68 new lows.</p><p><blockquote>标普500创下62个52周新高，无新低；纳斯达克综合指数录得284个新高和68个新低。</blockquote></p><p>Volume on U.S. exchanges was 14 billion shares, compared with the 14.9 billion average for the full session over the last 20 trading days.</p><p><blockquote>美国交易所的成交量为140亿股，而过去20个交易日的平均成交量为149亿股。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/article/us-usa-stocks/wall-street-drops-as-high-flying-tech-stocks-retreat-idUSKBN2AV1EG\">Reuters</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":{"AAPL":"苹果","AMZN":"亚马逊"},"source_url":"https://www.reuters.com/article/us-usa-stocks/wall-street-drops-as-high-flying-tech-stocks-retreat-idUSKBN2AV1EG","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1107788140","content_text":"(Reuters) - The Nasdaq ended sharply lower on Wednesday after investors sold high-flying technology shares and pivoted to sectors viewed as more likely to benefit from an economic recovery on the back of fiscal stimulus and vaccination programs.Microsoft Corp, Apple Inc and Amazon.com Inc dropped more than 2%, weighing more than any other stocks on the S&P 500.The S&P 500 financial and industrial sector indexes reached intra-day record highs. Most other S&P 500 sectors declined.“Today is the perfect encapsulation of the big theme we’ve been seeing in the past couple of months: The vaccine rollout is going well and the economy improving, and that is sending yields and rate expectations higher, which is hurting growth stocks,” said Baird investment strategist Ross Mayfield, in Louisville, Kentucky.The Dow Jones Industrial Average fell 0.39% to end at 31,270.09 points, while the S&P 500 lost 1.31% to 3,819.72.The Nasdaq Composite dropped 2.7% to 12,997.75. That left it at its lowest since early January and reduced its gain in 2021 to less than 1%.The U.S. economic recovery continued at a modest pace over the first weeks of this year, with businesses optimistic about the months to come and demand for housing “robust,” but only slow improvement in the job market, the Federal Reserve reported.While the vaccine distribution is expected to help the economy, data showed U.S. private employers hired fewer workers than expected in February, suggesting the labor market was struggling to regain speed.Another report showed U.S. services industry activity unexpectedly slowed in February amid winter storms, while a measure of prices paid by companies for inputs surged to the highest level in nearly 12-1/2 years.The U.S. 10-year Treasury yield ticked up to 1.47%, pressuring areas of the market with high valuations. It was still off last week’s peak of above 1.61% that roiled stock markets as investors bet on rising inflation.Rising interest rates disproportionately hurt high-growth tech companies because investors value them based on earnings expected years into the future, and high interest rates hurt the value of future earnings more than the value of earnings made in the short term.“There is a definite headwind for equity markets if yields go above the 1.5% level with most investors keeping an eye on the pace of yield growth,” said Michael Stritch, chief investment officer at BMO Wealth Management.President Joe Biden’s proposed $1.9 trillion coronavirus relief bill would phase out $1,400 payments to high-income Americans in a compromise with moderate Democratic senators, according to lawmakers and media reports.Exxon Mobil Corp rose 0.8% after the oil major unveiled plans to grow dividends and curb spending with projections that were less bold than previous years.Declining issues outnumbered advancing ones on the NYSE by a 1.31-to-1 ratio; on Nasdaq, a 1.95-to-1 ratio favored decliners.The S&P 500 posted 62 new 52-week highs and no new lows; the Nasdaq Composite recorded 284 new highs and 68 new lows.Volume on U.S. exchanges was 14 billion shares, compared with the 14.9 billion average for the full session over the last 20 trading days.","news_type":1,"symbols_score_info":{"AAPL":0.9,"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":350,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":387753379,"gmtCreate":1613789223291,"gmtModify":1634552225477,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575346220147121","authorIdStr":"3575346220147121"},"themes":[],"htmlText":"Pls comment and like","listText":"Pls comment and like","text":"Pls comment and like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/387753379","repostId":"1161529893","repostType":4,"repost":{"id":"1161529893","kind":"news","pubTimestamp":1613733842,"share":"https://www.laohu8.com/m/news/1161529893?lang=zh_CN&edition=full","pubTime":"2021-02-19 19:24","market":"us","language":"en","title":"Goldman Sachs is joining the robo-investing party — should you?<blockquote>高盛正在加入机器人投资行列——你应该加入吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1161529893","media":"Marketwatch","summary":"‘Much like in Vegas, the house generally wins,” said Vance Barse, a San Diego, California-based financial advisor who runs a company called Your Dedicated Fiduciary.Robo investing has become increasingly ubiquitous on practically every brokerage platform. Until Tuesday, Goldman Sachs GS, -0.91% restricted its robo-advisory service, Marcus, to people who had at least $10 million to invest.Now anyone with at least $1,000 to invest in can access the same trading algorithms that have been used by so","content":"<p>  ‘Much like in Vegas, the house generally wins,” said Vance Barse, a San Diego, California-based financial advisor who runs a company called Your Dedicated Fiduciary.  Robo investing has become increasingly ubiquitous on practically every brokerage platform. Until Tuesday, Goldman Sachs GS, -0.91% restricted its robo-advisory service, Marcus, to people who had at least $10 million to invest.</p><p><blockquote>加州圣地亚哥的财务顾问万斯·巴斯说，就像在拉斯维加斯一样，众议院通常会获胜。他经营着一家名为Your Dedicated Fiduciary的公司。机器人投资在几乎每个经纪平台上都变得越来越普遍。直到周二，高盛GS(-0.91%)将其机器人咨询服务Marcus限制为至少有1000万美元可投资的人。</blockquote></p><p> Now anyone with at least $1,000 to invest in can access the same trading algorithms that have been used by some of Goldman Sachs’ wealthiest clients for a 0.35% annual advisory fee. But investing experts say there are more costs to consider before jumping on the robo-investing train.</p><p><blockquote>现在，任何拥有至少1,000美元可投资的人都可以使用高盛一些最富有的客户使用的相同交易算法，每年只需支付0.35%的咨询费。但投资专家表示，在跳上机器人投资列车之前，需要考虑更多成本。</blockquote></p><p> “Much like in Vegas, the house generally wins,” said Vance Barse, a San Diego, California-based financial advisor who runs a company called Your Dedicated Fiduciary.</p><p><blockquote>“就像在拉斯维加斯一样，众议院通常会获胜，”加利福尼亚州圣地亚哥的财务顾问万斯·巴斯(Vance Barse)说，他经营着一家名为Your Dedicated Fiduciary的公司。</blockquote></p><p> Although the 35 basis-point price tag is a “loss leader” to Goldman Sachs, he said companies typically make such offers in order to attract clients to cross-sell them banking products.</p><p><blockquote>尽管35个基点的价格标签对高盛来说是一个“亏损领头羊”，但他表示，公司通常会提出这样的报价，以吸引客户向他们交叉销售银行产品。</blockquote></p><p> “People forget that banks are ultimately in the business of making money,” he said.</p><p><blockquote>“人们忘记了银行最终是为了赚钱，”他说。</blockquote></p><p> Goldman Sachs declined to comment.</p><p><blockquote>高盛拒绝置评。</blockquote></p><p> The company is among other major financial-services firms offering digital advisers, including Vanguard, Fidelity and Schwab SCHW, +1.03% and startups such as Betterment and Wealthfront.</p><p><blockquote>该公司是其他提供数字顾问的主要金融服务公司之一，包括Vanguard、Fidelity和Schwab SCHW，+1.03%，以及Betterment和Wealthfront等初创公司。</blockquote></p><p> Fees for robo advisers can start at around 0.25%, and increase to 1% and above for traditional brokers. A survey of nearly 1,000 financial planners by Inside Information, a trade publication, found that the bigger the portfolio, the lower the percentage clients paid in fees.</p><p><blockquote>机器人顾问的费用从0.25%左右开始，传统经纪商的费用会增加到1%及以上。行业出版物Inside Information对近1,000名理财规划师进行的一项调查发现，投资组合越大，客户支付的费用比例就越低。</blockquote></p><p> The median annual charge hovered at around 1% for portfolios of $1 million or less, and 0.5% for portfolios worth $5 million to $10 million.</p><p><blockquote>对于100万美元或以下的投资组合，年费中位数徘徊在1%左右，对于价值500万至1000万美元的投资组合，年费中位数徘徊在0.5%左右。</blockquote></p><p> Robo advisers like those on offer from Goldman Sachs and Betterment differ from robo platforms like Robinhood. The former suggest portfolios focused on exchange-traded funds, while Robinhood allows users to invest in individual ETFs, stocks, options and even cryptocurrencies.</p><p><blockquote>高盛和Betterment提供的机器人顾问与Robinhood等机器人平台不同。前者建议投资组合专注于交易所交易基金，而Robinhood允许用户投资个人ETF、股票、期权甚至加密货币。</blockquote></p><p> <b>Robo investing as a self-driving car</b></p><p><blockquote><b>机器人投资作为自动驾驶汽车</b></blockquote></p><p> Consumers have turned to robo-investing at unprecedented levels during the pandemic.</p><p><blockquote>在疫情期间，消费者以前所未有的水平转向机器人投资。</blockquote></p><p> The rate of new accounts opened jumped between 50% and 300% during the first quarter of 2020 compared to the fourth quarter of last year, according to a May report published by research and advisory firm Aite Group.</p><p><blockquote>根据研究和咨询公司艾特集团5月份发布的一份报告，与去年第四季度相比，2020年第一季度的新开户率跃升了50%至300%。</blockquote></p><p> So what is rob-investing? Think of it like a self-driving car.</p><p><blockquote>那么什么是rob投资呢？把它想象成一辆自动驾驶汽车。</blockquote></p><p> You put in your destination, buckle up in the backseat and your driver (robo adviser) will get there. You, the passenger, can’t easily slam the breaks if you fear your driver is leading you in the wrong direction. Nor can you put your foot on the gas pedal if you’re in a rush and want to get to your destination faster.</p><p><blockquote>你输入你的目的地，在后座系好安全带，你的司机（机器人顾问）就会到达那里。作为乘客，如果你担心你的司机把你引向错误的方向，你就不能轻易刹车。如果您赶时间并想更快地到达目的地，也不能踩油门。</blockquote></p><p> Robo-investing platforms use advanced-trading algorithm software to design investment portfolios based on factors such as an individual’s appetite for risk-taking and desired short-term and long-term returns.</p><p><blockquote>机器人投资平台使用先进的交易算法软件，根据个人的风险偏好以及期望的短期和长期回报等因素来设计投资组合。</blockquote></p><p> There are over 200 platforms that provide these services charging typically no more than a 0.5% annual advisory fee, compared to the 1% annual fee human investment advisors charge.</p><p><blockquote>有200多个平台提供这些服务，每年收取的咨询费通常不超过0.5%，而人力投资顾问收取的年费为1%。</blockquote></p><p> And rather than investing entirely on your own, which can become a second job and lead to emotional investment decisions, robo advisers handle buying and selling assets.</p><p><blockquote>机器人顾问处理资产的买卖，而不是完全自己投资，这可能成为第二份工作并导致情绪化的投资决策。</blockquote></p><p> Cynthia Loh, Schwab vice president of Digital Advice and Innovation, disagrees, and argues that robo investing doesn’t mean giving technology control of your money. Schwab, she said, has a team of investment experts who oversee investment strategy and keep watch during periods of market volatility, although some services have more input from humans than others.</p><p><blockquote>嘉信理财数字咨询和创新副总裁辛西娅·洛(Cynthia Loh)不同意这种观点，她认为机器人投资并不意味着让技术控制你的资金。她说，嘉信理财拥有一支投资专家团队，负责监督投资策略并在市场波动期间进行监控，尽管有些服务比其他服务有更多的人工输入。</blockquote></p><p> As she recently wrote on MarketWatch: “One common misconception about automated investing is that choosing a robo adviser essentially means handing control of your money over to robots. The truth is that robo solutions have a combination of automated and human components running things behind the scenes.”</p><p><blockquote>正如她最近在MarketWatch上所写：“关于自动化投资的一个常见误解是，选择机器人顾问本质上意味着将资金的控制权交给机器人。事实是，机器人解决方案结合了自动化和人工组件，在幕后运行事物。”</blockquote></p><p> <b>Robos appeal to inexperienced investors</b></p><p><blockquote><b>机器人吸引缺乏经验的投资者</b></blockquote></p><p> Robo investing tends to appeal to inexperienced investors or ones who don’t have the time or energy to manage their own portfolios. These investors can take comfort in the “set it and forget it approach to investing and overtime let the markets do their thing,” Barse said.</p><p><blockquote>机器人投资往往吸引缺乏经验的投资者或没有时间或精力管理自己投资组合的投资者。巴尔斯说，这些投资者可以对“一劳永逸”的投资方法感到放心，随着时间的推移，让市场做自己的事情”。</blockquote></p><p> That makes it much easier to stomach market volatility knowing that you don’t necessarily have to make spur-of-the-moment decisions to buy or sell assets, said Tiffany Lam-Balfour, an investing and retirement specialist at NerdWallet.</p><p><blockquote>NerdWallet的投资和退休专家蒂芙尼·拉姆-贝尔福(Tiffany Lam-Balfour)表示，这使得你更容易承受市场波动，因为你不一定必须做出购买或出售资产的冲动决定。</blockquote></p><p> “When you’re investing, you don’t want to keep looking at the market and going ‘Oh I need to get out of this,’” she said. “You want to leave it to the professionals to get you through it because they know what your time horizon is, and they’ll adjust your portfolio automatically for you.”</p><p><blockquote>“当你投资时，你不会想一直关注市场并说‘哦，我需要摆脱困境’，”她说。“你想让专业人士来帮你度过难关，因为他们知道你的时间范围，他们会自动为你调整你的投资组合。”</blockquote></p><p></p><p> That said, “you can’t just expect your investments will only go up. Even if you had the world’s best human financial adviser you can’t expect that.”</p><p><blockquote>也就是说，“你不能指望你的投资只会上涨。即使你有世界上最好的人类财务顾问，你也不能指望这一点。”</blockquote></p><p> Others disagree, and say robo advisers appeal to older investors. “Planning for and paying yourself in retirement is complex. There are many options out there to help investors through it, and robo investing is one of them,” Loh said.</p><p><blockquote>其他人不同意，并表示机器人顾问对老年投资者有吸引力。“退休后的规划和支付费用很复杂。有很多选择可以帮助投资者度过难关，机器人投资就是其中之一，”Loh说。</blockquote></p><p> “Many thoughtful, long-term investors have discovered that they want a more modern, streamlined, and inexpensive way to invest, and robo investing fits the bill. They are happy to let technology handle the mundane activities that are harder and more time-consuming for investors to do themselves,” she added.</p><p><blockquote>“许多深思熟虑的长期投资者发现，他们想要一种更现代、更简化、更便宜的投资方式，而机器人投资正好符合这一要求。他们很乐意让技术来处理更困难、更耗时的日常活动。投资者自己做，”她补充道。</blockquote></p><p> <b>There is often no door to knock on</b></p><p><blockquote><b>常常无门可敲</b></blockquote></p><p> Your robo adviser only knows what you tell it. The simplistic questionnaire you’re required to fill out will on most robo-investing platforms will collect information on your annual income, desired age to retire and the level of risk you’re willing to take on.</p><p><blockquote>你的机器人顾问只知道你告诉它什么。大多数机器人投资平台上要求您填写的简单问卷将收集有关您的年收入、期望退休年龄以及您愿意承担的风险水平的信息。</blockquote></p><p> It won’t however know if you just had a child and would like to begin saving for their education down the road or if you recently lost your job.</p><p><blockquote>然而，它不会知道你是否刚刚有了一个孩子，并想开始为他们的教育存钱，或者你是否最近失业了。</blockquote></p><p> “The question then becomes to whom does that person go to for advice and does that platform offer that and if so, to what level of complexity?” said Barse.</p><p><blockquote>“那么问题就变成了那个人向谁寻求建议？该平台是否提供建议？如果提供，复杂程度如何？”巴斯说。</blockquote></p><p> Not all platforms give individualized investment advice and the hybrid models that do offer advice from a human tend to charge higher annual fees.</p><p><blockquote>并非所有平台都提供个性化投资建议，提供人工建议的混合模式往往会收取更高的年费。</blockquote></p><p> Additionally, a robo adviser won’t necessarily “manage your money with tax efficiency at front of mind,” said Roger Ma, a certified financial planner at Lifelaidout, a New York City-based financial advisory group.</p><p><blockquote>此外，纽约市财务咨询集团Lifelaidout的注册财务规划师罗杰·马(Roger Ma)表示，机器人顾问不一定“在管理资金时首先考虑税收效率”。</blockquote></p><p> For instance, one common way investors offset the taxes they pay on long-term investments is by selling assets that have accrued losses. Traditional advisers often specialize in constructing portfolios that lead to the most tax-efficient outcomes, said Ma, who is the author of “Work Your Money, Not Your Life”.</p><p><blockquote>例如，投资者抵消长期投资税款的一种常见方式是出售已累计亏损的资产。《工作你的钱，而不是你的生活》一书的作者马说，传统顾问通常专注于构建能带来最节税结果的投资组合。</blockquote></p><p> But with robo investing, the trades that are made for you are the same ones that are being made for a slew of other investors who may fall under a different tax-bracket than you.</p><p><blockquote>但通过机器人投资，为您进行的交易与为许多其他投资者进行的交易是相同的，这些投资者可能属于与您不同的税级。</blockquote></p><p> On top of that, while robo investing may feel like a simplistic way to get into investing, especially for beginners it can “overcomplicate investing,” Ma said.</p><p><blockquote>最重要的是，虽然机器人投资可能感觉像是一种简单的投资方式，特别是对于初学者来说，它可能会“使投资过于复杂”，马云说。</blockquote></p><p> “If you are just looking to dip your toe in and you want to feel like you’re invested in a diversified portfolio, I wouldn’t say definitely don’t do a robo adviser,” he said.</p><p><blockquote>“如果你只是想尝试一下，并且想感觉自己投资于多元化的投资组合，我不会说绝对不要聘请机器人顾问，”他说。</blockquote></p><p> Don’t rule out investing through a target-date fund that selects a single fund to invest in and adjusts the position over time based on their investment goals, he added.</p><p><blockquote>他补充说，不要排除通过目标日期基金进行投资，该基金选择单一基金进行投资，并根据投资目标随着时间的推移调整头寸。</blockquote></p><p> But not everyone can tell the difference between robo advice and advice from a human being. In 2015, MarketWatch asked four prominent robo advisers and four of the traditional, flesh-and-blood variety to construct portfolios for a hypothetical 35-year-old investor with $40,000 to invest.</p><p><blockquote>但并不是每个人都能区分机器人的建议和人类的建议。2015年，MarketWatch请四位著名的机器人顾问和四位传统的有血有肉的机器人顾问为一位假设的35岁投资者构建投资组合，投资金额为40,000美元。</blockquote></p><p> The results were, perhaps, surprising for critics of robo advisers. The robots’ suggestions were “not massively different” from what the human advisers proposed, said Michael Kitces, Pinnacle Advisory Group’s research director, after reviewing the results.</p><p><blockquote>对于机器人顾问的批评者来说，结果或许令人惊讶。Pinnacle Advisory Group的研究总监Michael Kitces在审查结果后表示，机器人的建议与人类顾问的建议“没有太大不同”。</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>Goldman Sachs is joining the robo-investing party — should you?<blockquote>高盛正在加入机器人投资行列——你应该加入吗？</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\">\nGoldman Sachs is joining the robo-investing party — should you?<blockquote>高盛正在加入机器人投资行列——你应该加入吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Marketwatch</strong><span class=\"h-time small\">2021-02-19 19:24</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  ‘Much like in Vegas, the house generally wins,” said Vance Barse, a San Diego, California-based financial advisor who runs a company called Your Dedicated Fiduciary.  Robo investing has become increasingly ubiquitous on practically every brokerage platform. Until Tuesday, Goldman Sachs GS, -0.91% restricted its robo-advisory service, Marcus, to people who had at least $10 million to invest.</p><p><blockquote>加州圣地亚哥的财务顾问万斯·巴斯说，就像在拉斯维加斯一样，众议院通常会获胜。他经营着一家名为Your Dedicated Fiduciary的公司。机器人投资在几乎每个经纪平台上都变得越来越普遍。直到周二，高盛GS(-0.91%)将其机器人咨询服务Marcus限制为至少有1000万美元可投资的人。</blockquote></p><p> Now anyone with at least $1,000 to invest in can access the same trading algorithms that have been used by some of Goldman Sachs’ wealthiest clients for a 0.35% annual advisory fee. But investing experts say there are more costs to consider before jumping on the robo-investing train.</p><p><blockquote>现在，任何拥有至少1,000美元可投资的人都可以使用高盛一些最富有的客户使用的相同交易算法，每年只需支付0.35%的咨询费。但投资专家表示，在跳上机器人投资列车之前，需要考虑更多成本。</blockquote></p><p> “Much like in Vegas, the house generally wins,” said Vance Barse, a San Diego, California-based financial advisor who runs a company called Your Dedicated Fiduciary.</p><p><blockquote>“就像在拉斯维加斯一样，众议院通常会获胜，”加利福尼亚州圣地亚哥的财务顾问万斯·巴斯(Vance Barse)说，他经营着一家名为Your Dedicated Fiduciary的公司。</blockquote></p><p> Although the 35 basis-point price tag is a “loss leader” to Goldman Sachs, he said companies typically make such offers in order to attract clients to cross-sell them banking products.</p><p><blockquote>尽管35个基点的价格标签对高盛来说是一个“亏损领头羊”，但他表示，公司通常会提出这样的报价，以吸引客户向他们交叉销售银行产品。</blockquote></p><p> “People forget that banks are ultimately in the business of making money,” he said.</p><p><blockquote>“人们忘记了银行最终是为了赚钱，”他说。</blockquote></p><p> Goldman Sachs declined to comment.</p><p><blockquote>高盛拒绝置评。</blockquote></p><p> The company is among other major financial-services firms offering digital advisers, including Vanguard, Fidelity and Schwab SCHW, +1.03% and startups such as Betterment and Wealthfront.</p><p><blockquote>该公司是其他提供数字顾问的主要金融服务公司之一，包括Vanguard、Fidelity和Schwab SCHW，+1.03%，以及Betterment和Wealthfront等初创公司。</blockquote></p><p> Fees for robo advisers can start at around 0.25%, and increase to 1% and above for traditional brokers. A survey of nearly 1,000 financial planners by Inside Information, a trade publication, found that the bigger the portfolio, the lower the percentage clients paid in fees.</p><p><blockquote>机器人顾问的费用从0.25%左右开始，传统经纪商的费用会增加到1%及以上。行业出版物Inside Information对近1,000名理财规划师进行的一项调查发现，投资组合越大，客户支付的费用比例就越低。</blockquote></p><p> The median annual charge hovered at around 1% for portfolios of $1 million or less, and 0.5% for portfolios worth $5 million to $10 million.</p><p><blockquote>对于100万美元或以下的投资组合，年费中位数徘徊在1%左右，对于价值500万至1000万美元的投资组合，年费中位数徘徊在0.5%左右。</blockquote></p><p> Robo advisers like those on offer from Goldman Sachs and Betterment differ from robo platforms like Robinhood. The former suggest portfolios focused on exchange-traded funds, while Robinhood allows users to invest in individual ETFs, stocks, options and even cryptocurrencies.</p><p><blockquote>高盛和Betterment提供的机器人顾问与Robinhood等机器人平台不同。前者建议投资组合专注于交易所交易基金，而Robinhood允许用户投资个人ETF、股票、期权甚至加密货币。</blockquote></p><p> <b>Robo investing as a self-driving car</b></p><p><blockquote><b>机器人投资作为自动驾驶汽车</b></blockquote></p><p> Consumers have turned to robo-investing at unprecedented levels during the pandemic.</p><p><blockquote>在疫情期间，消费者以前所未有的水平转向机器人投资。</blockquote></p><p> The rate of new accounts opened jumped between 50% and 300% during the first quarter of 2020 compared to the fourth quarter of last year, according to a May report published by research and advisory firm Aite Group.</p><p><blockquote>根据研究和咨询公司艾特集团5月份发布的一份报告，与去年第四季度相比，2020年第一季度的新开户率跃升了50%至300%。</blockquote></p><p> So what is rob-investing? Think of it like a self-driving car.</p><p><blockquote>那么什么是rob投资呢？把它想象成一辆自动驾驶汽车。</blockquote></p><p> You put in your destination, buckle up in the backseat and your driver (robo adviser) will get there. You, the passenger, can’t easily slam the breaks if you fear your driver is leading you in the wrong direction. Nor can you put your foot on the gas pedal if you’re in a rush and want to get to your destination faster.</p><p><blockquote>你输入你的目的地，在后座系好安全带，你的司机（机器人顾问）就会到达那里。作为乘客，如果你担心你的司机把你引向错误的方向，你就不能轻易刹车。如果您赶时间并想更快地到达目的地，也不能踩油门。</blockquote></p><p> Robo-investing platforms use advanced-trading algorithm software to design investment portfolios based on factors such as an individual’s appetite for risk-taking and desired short-term and long-term returns.</p><p><blockquote>机器人投资平台使用先进的交易算法软件，根据个人的风险偏好以及期望的短期和长期回报等因素来设计投资组合。</blockquote></p><p> There are over 200 platforms that provide these services charging typically no more than a 0.5% annual advisory fee, compared to the 1% annual fee human investment advisors charge.</p><p><blockquote>有200多个平台提供这些服务，每年收取的咨询费通常不超过0.5%，而人力投资顾问收取的年费为1%。</blockquote></p><p> And rather than investing entirely on your own, which can become a second job and lead to emotional investment decisions, robo advisers handle buying and selling assets.</p><p><blockquote>机器人顾问处理资产的买卖，而不是完全自己投资，这可能成为第二份工作并导致情绪化的投资决策。</blockquote></p><p> Cynthia Loh, Schwab vice president of Digital Advice and Innovation, disagrees, and argues that robo investing doesn’t mean giving technology control of your money. Schwab, she said, has a team of investment experts who oversee investment strategy and keep watch during periods of market volatility, although some services have more input from humans than others.</p><p><blockquote>嘉信理财数字咨询和创新副总裁辛西娅·洛(Cynthia Loh)不同意这种观点，她认为机器人投资并不意味着让技术控制你的资金。她说，嘉信理财拥有一支投资专家团队，负责监督投资策略并在市场波动期间进行监控，尽管有些服务比其他服务有更多的人工输入。</blockquote></p><p> As she recently wrote on MarketWatch: “One common misconception about automated investing is that choosing a robo adviser essentially means handing control of your money over to robots. The truth is that robo solutions have a combination of automated and human components running things behind the scenes.”</p><p><blockquote>正如她最近在MarketWatch上所写：“关于自动化投资的一个常见误解是，选择机器人顾问本质上意味着将资金的控制权交给机器人。事实是，机器人解决方案结合了自动化和人工组件，在幕后运行事物。”</blockquote></p><p> <b>Robos appeal to inexperienced investors</b></p><p><blockquote><b>机器人吸引缺乏经验的投资者</b></blockquote></p><p> Robo investing tends to appeal to inexperienced investors or ones who don’t have the time or energy to manage their own portfolios. These investors can take comfort in the “set it and forget it approach to investing and overtime let the markets do their thing,” Barse said.</p><p><blockquote>机器人投资往往吸引缺乏经验的投资者或没有时间或精力管理自己投资组合的投资者。巴尔斯说，这些投资者可以对“一劳永逸”的投资方法感到放心，随着时间的推移，让市场做自己的事情”。</blockquote></p><p> That makes it much easier to stomach market volatility knowing that you don’t necessarily have to make spur-of-the-moment decisions to buy or sell assets, said Tiffany Lam-Balfour, an investing and retirement specialist at NerdWallet.</p><p><blockquote>NerdWallet的投资和退休专家蒂芙尼·拉姆-贝尔福(Tiffany Lam-Balfour)表示，这使得你更容易承受市场波动，因为你不一定必须做出购买或出售资产的冲动决定。</blockquote></p><p> “When you’re investing, you don’t want to keep looking at the market and going ‘Oh I need to get out of this,’” she said. “You want to leave it to the professionals to get you through it because they know what your time horizon is, and they’ll adjust your portfolio automatically for you.”</p><p><blockquote>“当你投资时，你不会想一直关注市场并说‘哦，我需要摆脱困境’，”她说。“你想让专业人士来帮你度过难关，因为他们知道你的时间范围，他们会自动为你调整你的投资组合。”</blockquote></p><p></p><p> That said, “you can’t just expect your investments will only go up. Even if you had the world’s best human financial adviser you can’t expect that.”</p><p><blockquote>也就是说，“你不能指望你的投资只会上涨。即使你有世界上最好的人类财务顾问，你也不能指望这一点。”</blockquote></p><p> Others disagree, and say robo advisers appeal to older investors. “Planning for and paying yourself in retirement is complex. There are many options out there to help investors through it, and robo investing is one of them,” Loh said.</p><p><blockquote>其他人不同意，并表示机器人顾问对老年投资者有吸引力。“退休后的规划和支付费用很复杂。有很多选择可以帮助投资者度过难关，机器人投资就是其中之一，”Loh说。</blockquote></p><p> “Many thoughtful, long-term investors have discovered that they want a more modern, streamlined, and inexpensive way to invest, and robo investing fits the bill. They are happy to let technology handle the mundane activities that are harder and more time-consuming for investors to do themselves,” she added.</p><p><blockquote>“许多深思熟虑的长期投资者发现，他们想要一种更现代、更简化、更便宜的投资方式，而机器人投资正好符合这一要求。他们很乐意让技术来处理更困难、更耗时的日常活动。投资者自己做，”她补充道。</blockquote></p><p> <b>There is often no door to knock on</b></p><p><blockquote><b>常常无门可敲</b></blockquote></p><p> Your robo adviser only knows what you tell it. The simplistic questionnaire you’re required to fill out will on most robo-investing platforms will collect information on your annual income, desired age to retire and the level of risk you’re willing to take on.</p><p><blockquote>你的机器人顾问只知道你告诉它什么。大多数机器人投资平台上要求您填写的简单问卷将收集有关您的年收入、期望退休年龄以及您愿意承担的风险水平的信息。</blockquote></p><p> It won’t however know if you just had a child and would like to begin saving for their education down the road or if you recently lost your job.</p><p><blockquote>然而，它不会知道你是否刚刚有了一个孩子，并想开始为他们的教育存钱，或者你是否最近失业了。</blockquote></p><p> “The question then becomes to whom does that person go to for advice and does that platform offer that and if so, to what level of complexity?” said Barse.</p><p><blockquote>“那么问题就变成了那个人向谁寻求建议？该平台是否提供建议？如果提供，复杂程度如何？”巴斯说。</blockquote></p><p> Not all platforms give individualized investment advice and the hybrid models that do offer advice from a human tend to charge higher annual fees.</p><p><blockquote>并非所有平台都提供个性化投资建议，提供人工建议的混合模式往往会收取更高的年费。</blockquote></p><p> Additionally, a robo adviser won’t necessarily “manage your money with tax efficiency at front of mind,” said Roger Ma, a certified financial planner at Lifelaidout, a New York City-based financial advisory group.</p><p><blockquote>此外，纽约市财务咨询集团Lifelaidout的注册财务规划师罗杰·马(Roger Ma)表示，机器人顾问不一定“在管理资金时首先考虑税收效率”。</blockquote></p><p> For instance, one common way investors offset the taxes they pay on long-term investments is by selling assets that have accrued losses. Traditional advisers often specialize in constructing portfolios that lead to the most tax-efficient outcomes, said Ma, who is the author of “Work Your Money, Not Your Life”.</p><p><blockquote>例如，投资者抵消长期投资税款的一种常见方式是出售已累计亏损的资产。《工作你的钱，而不是你的生活》一书的作者马说，传统顾问通常专注于构建能带来最节税结果的投资组合。</blockquote></p><p> But with robo investing, the trades that are made for you are the same ones that are being made for a slew of other investors who may fall under a different tax-bracket than you.</p><p><blockquote>但通过机器人投资，为您进行的交易与为许多其他投资者进行的交易是相同的，这些投资者可能属于与您不同的税级。</blockquote></p><p> On top of that, while robo investing may feel like a simplistic way to get into investing, especially for beginners it can “overcomplicate investing,” Ma said.</p><p><blockquote>最重要的是，虽然机器人投资可能感觉像是一种简单的投资方式，特别是对于初学者来说，它可能会“使投资过于复杂”，马云说。</blockquote></p><p> “If you are just looking to dip your toe in and you want to feel like you’re invested in a diversified portfolio, I wouldn’t say definitely don’t do a robo adviser,” he said.</p><p><blockquote>“如果你只是想尝试一下，并且想感觉自己投资于多元化的投资组合，我不会说绝对不要聘请机器人顾问，”他说。</blockquote></p><p> Don’t rule out investing through a target-date fund that selects a single fund to invest in and adjusts the position over time based on their investment goals, he added.</p><p><blockquote>他补充说，不要排除通过目标日期基金进行投资，该基金选择单一基金进行投资，并根据投资目标随着时间的推移调整头寸。</blockquote></p><p> But not everyone can tell the difference between robo advice and advice from a human being. In 2015, MarketWatch asked four prominent robo advisers and four of the traditional, flesh-and-blood variety to construct portfolios for a hypothetical 35-year-old investor with $40,000 to invest.</p><p><blockquote>但并不是每个人都能区分机器人的建议和人类的建议。2015年，MarketWatch请四位著名的机器人顾问和四位传统的有血有肉的机器人顾问为一位假设的35岁投资者构建投资组合，投资金额为40,000美元。</blockquote></p><p> The results were, perhaps, surprising for critics of robo advisers. The robots’ suggestions were “not massively different” from what the human advisers proposed, said Michael Kitces, Pinnacle Advisory Group’s research director, after reviewing the results.</p><p><blockquote>对于机器人顾问的批评者来说，结果或许令人惊讶。Pinnacle Advisory Group的研究总监Michael Kitces在审查结果后表示，机器人的建议与人类顾问的建议“没有太大不同”。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/goldman-sachs-is-joining-the-robo-investing-party-should-you-11613658128?mod=home-page\">Marketwatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.marketwatch.com/story/goldman-sachs-is-joining-the-robo-investing-party-should-you-11613658128?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1161529893","content_text":"‘Much like in Vegas, the house generally wins,” said Vance Barse, a San Diego, California-based financial advisor who runs a company called Your Dedicated Fiduciary.\n\nRobo investing has become increasingly ubiquitous on practically every brokerage platform. Until Tuesday, Goldman Sachs GS, -0.91% restricted its robo-advisory service, Marcus, to people who had at least $10 million to invest.\nNow anyone with at least $1,000 to invest in can access the same trading algorithms that have been used by some of Goldman Sachs’ wealthiest clients for a 0.35% annual advisory fee. But investing experts say there are more costs to consider before jumping on the robo-investing train.\n“Much like in Vegas, the house generally wins,” said Vance Barse, a San Diego, California-based financial advisor who runs a company called Your Dedicated Fiduciary.\nAlthough the 35 basis-point price tag is a “loss leader” to Goldman Sachs, he said companies typically make such offers in order to attract clients to cross-sell them banking products.\n“People forget that banks are ultimately in the business of making money,” he said.\nGoldman Sachs declined to comment.\nThe company is among other major financial-services firms offering digital advisers, including Vanguard, Fidelity and Schwab SCHW, +1.03% and startups such as Betterment and Wealthfront.\nFees for robo advisers can start at around 0.25%, and increase to 1% and above for traditional brokers. A survey of nearly 1,000 financial planners by Inside Information, a trade publication, found that the bigger the portfolio, the lower the percentage clients paid in fees.\nThe median annual charge hovered at around 1% for portfolios of $1 million or less, and 0.5% for portfolios worth $5 million to $10 million.\nRobo advisers like those on offer from Goldman Sachs and Betterment differ from robo platforms like Robinhood. The former suggest portfolios focused on exchange-traded funds, while Robinhood allows users to invest in individual ETFs, stocks, options and even cryptocurrencies.\nRobo investing as a self-driving car\nConsumers have turned to robo-investing at unprecedented levels during the pandemic.\nThe rate of new accounts opened jumped between 50% and 300% during the first quarter of 2020 compared to the fourth quarter of last year, according to a May report published by research and advisory firm Aite Group.\nSo what is rob-investing? Think of it like a self-driving car.\nYou put in your destination, buckle up in the backseat and your driver (robo adviser) will get there. You, the passenger, can’t easily slam the breaks if you fear your driver is leading you in the wrong direction. Nor can you put your foot on the gas pedal if you’re in a rush and want to get to your destination faster.\nRobo-investing platforms use advanced-trading algorithm software to design investment portfolios based on factors such as an individual’s appetite for risk-taking and desired short-term and long-term returns.\nThere are over 200 platforms that provide these services charging typically no more than a 0.5% annual advisory fee, compared to the 1% annual fee human investment advisors charge.\nAnd rather than investing entirely on your own, which can become a second job and lead to emotional investment decisions, robo advisers handle buying and selling assets.\nCynthia Loh, Schwab vice president of Digital Advice and Innovation, disagrees, and argues that robo investing doesn’t mean giving technology control of your money. Schwab, she said, has a team of investment experts who oversee investment strategy and keep watch during periods of market volatility, although some services have more input from humans than others.\nAs she recently wrote on MarketWatch: “One common misconception about automated investing is that choosing a robo adviser essentially means handing control of your money over to robots. The truth is that robo solutions have a combination of automated and human components running things behind the scenes.”\nRobos appeal to inexperienced investors\nRobo investing tends to appeal to inexperienced investors or ones who don’t have the time or energy to manage their own portfolios. These investors can take comfort in the “set it and forget it approach to investing and overtime let the markets do their thing,” Barse said.\nThat makes it much easier to stomach market volatility knowing that you don’t necessarily have to make spur-of-the-moment decisions to buy or sell assets, said Tiffany Lam-Balfour, an investing and retirement specialist at NerdWallet.\n“When you’re investing, you don’t want to keep looking at the market and going ‘Oh I need to get out of this,’” she said. “You want to leave it to the professionals to get you through it because they know what your time horizon is, and they’ll adjust your portfolio automatically for you.”\nThat said, “you can’t just expect your investments will only go up. Even if you had the world’s best human financial adviser you can’t expect that.”\nOthers disagree, and say robo advisers appeal to older investors. “Planning for and paying yourself in retirement is complex. There are many options out there to help investors through it, and robo investing is one of them,” Loh said.\n“Many thoughtful, long-term investors have discovered that they want a more modern, streamlined, and inexpensive way to invest, and robo investing fits the bill. They are happy to let technology handle the mundane activities that are harder and more time-consuming for investors to do themselves,” she added.\nThere is often no door to knock on\nYour robo adviser only knows what you tell it. The simplistic questionnaire you’re required to fill out will on most robo-investing platforms will collect information on your annual income, desired age to retire and the level of risk you’re willing to take on.\nIt won’t however know if you just had a child and would like to begin saving for their education down the road or if you recently lost your job.\n“The question then becomes to whom does that person go to for advice and does that platform offer that and if so, to what level of complexity?” said Barse.\nNot all platforms give individualized investment advice and the hybrid models that do offer advice from a human tend to charge higher annual fees.\nAdditionally, a robo adviser won’t necessarily “manage your money with tax efficiency at front of mind,” said Roger Ma, a certified financial planner at Lifelaidout, a New York City-based financial advisory group.\nFor instance, one common way investors offset the taxes they pay on long-term investments is by selling assets that have accrued losses. Traditional advisers often specialize in constructing portfolios that lead to the most tax-efficient outcomes, said Ma, who is the author of “Work Your Money, Not Your Life”.\nBut with robo investing, the trades that are made for you are the same ones that are being made for a slew of other investors who may fall under a different tax-bracket than you.\nOn top of that, while robo investing may feel like a simplistic way to get into investing, especially for beginners it can “overcomplicate investing,” Ma said.\n“If you are just looking to dip your toe in and you want to feel like you’re invested in a diversified portfolio, I wouldn’t say definitely don’t do a robo adviser,” he said.\nDon’t rule out investing through a target-date fund that selects a single fund to invest in and adjusts the position over time based on their investment goals, he added.\nBut not everyone can tell the difference between robo advice and advice from a human being. In 2015, MarketWatch asked four prominent robo advisers and four of the traditional, flesh-and-blood variety to construct portfolios for a hypothetical 35-year-old investor with $40,000 to invest.\nThe results were, perhaps, surprising for critics of robo advisers. The robots’ suggestions were “not massively different” from what the human advisers proposed, said Michael Kitces, Pinnacle Advisory Group’s research director, after reviewing the results.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":492,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":385883570,"gmtCreate":1613530590190,"gmtModify":1634553277285,"author":{"id":"3575346220147121","authorId":"3575346220147121","name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575346220147121","authorIdStr":"3575346220147121"},"themes":[],"htmlText":"Like and comment please","listText":"Like and comment please","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/385883570","repostId":"1121312034","repostType":4,"repost":{"id":"1121312034","kind":"news","pubTimestamp":1613530382,"share":"https://www.laohu8.com/m/news/1121312034?lang=zh_CN&edition=full","pubTime":"2021-02-17 10:53","market":"us","language":"en","title":"Citibank can't get back $500 million it wired by mistake, judge rules<blockquote>法官裁定花旗银行无法收回误汇的5亿美元</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1121312034","media":"CNN Business","summary":"New York (CNN Business) After committing one of the \"biggest blunders in banking history,\" Citibank ","content":"<p><b>New York (CNN Business)&nbsp;</b>After committing one of the \"biggest blunders in banking history,\" Citibank won't be allowed to recover the almost half a billion dollars it accidentally wired to Revlon's lenders, a US District Court judge ruled.</p><p><blockquote><b>纽约（CNN商业）</b>美国地方法院法官裁定，在犯下“银行业历史上最大的错误”之一后，花旗银行将不被允许收回其意外电汇给露华浓贷方的近5亿美元。</blockquote></p><p>Citibank, which was acting as Revlon's loan agent, meant to send about $8 million in interest payments to the cosmetic company's lenders. Instead, Citibank accidentally wired almost 100 times that amount, including&nbsp;$175 million to a hedge fund. In all,Citi(C)accidentally sent&nbsp;$900 million&nbsp;to Revlon's lenders.</p><p><blockquote>担任露华浓贷款代理的花旗银行打算向该化妆品公司的贷方支付约800万美元的利息。相反，花旗银行意外地电汇了近100倍的金额，其中包括1.75亿美元给一家对冲基金。花旗(C)总共意外地向露华浓的贷方输送了9亿美元。</blockquote></p><p>Citibank filed a lawsuit in August seeking the return of its funds, but it still has not received $500 million from 10 investment advisory firms after the accidental transfer.</p><p><blockquote>花旗银行在8月份提起诉讼，寻求返还其资金，但在意外转移后仍未收到10家投资咨询公司提供的5亿美元。</blockquote></p><p><b>An exception to the rule</b></p><p><blockquote><b>规则的例外</b></blockquote></p><p>The law usually punishes those who spend money accidentally deposited in their accounts. Accidental transfers are common in the digital age, and wires can be paid back instantly. A Pennsylvania couple&nbsp;faced felony charges&nbsp;after spending money accidentally deposited in their account.</p><p><blockquote>法律通常会惩罚那些花掉意外存入账户的钱的人。意外转账在数字时代很常见，电汇可以即时还款。宾夕法尼亚州的一对夫妇在花掉意外存入他们账户的钱后面临重罪指控。</blockquote></p><p>But New York law has exceptions to this rule, known as the \"discharge-for-value-defense.\"</p><p><blockquote>但纽约法律对这一规则有例外，称为“价值免责辩护”。</blockquote></p><p>If the beneficiary is entitled to the money and did not know it was accidentally wired, they can keep it. Revlon lenders said they believed Citibank was wiring prepayments for a loan. After all, the money accidentally wired was the exact amount \"to the penny\" Citibank owed them, although the loan wasn't set to mature for quite some time.</p><p><blockquote>如果受益人有权获得这笔钱，并且不知道这笔钱是意外电汇的，他们可以保留这笔钱。露华浓贷方表示，他们认为花旗银行正在为贷款预付款。毕竟，意外电汇的钱正是花旗银行欠他们的“一分钱一分货”的确切金额，尽管贷款在相当长的一段时间内都不会到期。</blockquote></p><p>\"We are extremely pleased with Judge [Jesse] Furman's thoughtful, thorough and detailed decision,\" said Benjamin Finestone, who represented two lenders, Brigade and HPS Investment Partners.</p><p><blockquote>“我们对[杰西]弗曼法官深思熟虑、彻底和详细的决定感到非常满意，”代表Brigade和HPS Investment Partners两家贷方的本杰明·芬斯通(Benjamin Finestone)表示。</blockquote></p><p><b>'Borderline irrational'</b></p><p><blockquote><b>“边缘非理性”</b></blockquote></p><p>The court ruled the lenders were justified in believing the payment was intentional. Citibank itself did not realize the magnitude of its mistake until nearly a day later.</p><p><blockquote>法院裁定贷款人有理由相信付款是故意的。花旗银行自己直到近一天后才意识到自己错误的严重性。</blockquote></p><p>\"To believe that Citibank, one of the most sophisticated financial institutions in the world, had made a mistake that had never happened before, to the tune of nearly $1 billion — would have been borderline irrational,\" the court document said.</p><p><blockquote>法庭文件称：“相信花旗银行作为世界上最成熟的金融机构之一，犯下了前所未有的错误，损失金额近10亿美元，这是近乎非理性的。”</blockquote></p><p>The judge's ruling used internal chats between HPS employees as further proof the creditors had no idea the wiring was a mistake until after Citibank sent notices. In the chat, which was dated a day after the mistaken wiring, HPS employees joked about the error:</p><p><blockquote>法官的裁决利用HPS员工之间的内部聊天作为进一步证据，证明债权人直到花旗银行发出通知后才知道线路是错误的。在错误接线一天后的聊天中，HPS员工开玩笑说这个错误：</blockquote></p><p><i>DFREY5: I feel really bad for the person that fat fingered a $900mm erroneous payment. Not a great career move . . . .</i></p><p><blockquote><i>DFREY5：我真的为那个错误支付9亿美元的人感到难过。不是一个伟大的职业发展.....</i></blockquote></p><p><i>JRABINOWIT12: certainly looks like they'll be looking for new people for their Ops group</i></p><p><blockquote><i>JRABINOWIT12：看起来他们肯定会为他们的运营团队寻找新人</i></blockquote></p><p><i>DFREY5: How was work today honey? It was ok, except I accidentally sent $900mm out to people who weren't supposed to have it</i></p><p><blockquote><i>亲爱的，今天工作怎么样？这很好，除了我不小心把9亿美元寄给了不应该拥有它的人</i></blockquote></p><p><i>DFREY5: Downside of work from home. maybe the dog hit the keyboard</i></p><p><blockquote><i>DFREY5：在家工作的缺点。也许是狗撞到了键盘</i></blockquote></p><p>The lenders cannot take the money and run. Since an appeal is a possibility, a temporary restraining order is still in effect.</p><p><blockquote>贷款人不能拿了钱就跑。由于上诉是可能的，临时限制令仍然有效。</blockquote></p><p>\"We strongly disagree with this decision and intend to appeal. We believe we are entitled to the funds and will continue to pursue a complete recovery of them,\" Citigroup said in a statement.</p><p><blockquote>花旗集团在一份声明中表示：“我们强烈反对这一决定，并打算上诉。我们相信我们有权获得这些资金，并将继续寻求完全收回这些资金。”</blockquote></p><p>The&nbsp;pandemic has hurt makeup brands&nbsp;like&nbsp;Revlon(REV), shares of which are trading more than 40% lower from a year ago.</p><p><blockquote>疫情伤害了露华浓(REV)等化妆品品牌，其股价较一年前下跌了40%以上。</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>Citibank can't get back $500 million it wired by mistake, judge rules<blockquote>法官裁定花旗银行无法收回误汇的5亿美元</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCitibank can't get back $500 million it wired by mistake, judge rules<blockquote>法官裁定花旗银行无法收回误汇的5亿美元</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">CNN Business</strong><span class=\"h-time small\">2021-02-17 10:53</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>New York (CNN Business)&nbsp;</b>After committing one of the \"biggest blunders in banking history,\" Citibank won't be allowed to recover the almost half a billion dollars it accidentally wired to Revlon's lenders, a US District Court judge ruled.</p><p><blockquote><b>纽约（CNN商业）</b>美国地方法院法官裁定，在犯下“银行业历史上最大的错误”之一后，花旗银行将不被允许收回其意外电汇给露华浓贷方的近5亿美元。</blockquote></p><p>Citibank, which was acting as Revlon's loan agent, meant to send about $8 million in interest payments to the cosmetic company's lenders. Instead, Citibank accidentally wired almost 100 times that amount, including&nbsp;$175 million to a hedge fund. In all,Citi(C)accidentally sent&nbsp;$900 million&nbsp;to Revlon's lenders.</p><p><blockquote>担任露华浓贷款代理的花旗银行打算向该化妆品公司的贷方支付约800万美元的利息。相反，花旗银行意外地电汇了近100倍的金额，其中包括1.75亿美元给一家对冲基金。花旗(C)总共意外地向露华浓的贷方输送了9亿美元。</blockquote></p><p>Citibank filed a lawsuit in August seeking the return of its funds, but it still has not received $500 million from 10 investment advisory firms after the accidental transfer.</p><p><blockquote>花旗银行在8月份提起诉讼，寻求返还其资金，但在意外转移后仍未收到10家投资咨询公司提供的5亿美元。</blockquote></p><p><b>An exception to the rule</b></p><p><blockquote><b>规则的例外</b></blockquote></p><p>The law usually punishes those who spend money accidentally deposited in their accounts. Accidental transfers are common in the digital age, and wires can be paid back instantly. A Pennsylvania couple&nbsp;faced felony charges&nbsp;after spending money accidentally deposited in their account.</p><p><blockquote>法律通常会惩罚那些花掉意外存入账户的钱的人。意外转账在数字时代很常见，电汇可以即时还款。宾夕法尼亚州的一对夫妇在花掉意外存入他们账户的钱后面临重罪指控。</blockquote></p><p>But New York law has exceptions to this rule, known as the \"discharge-for-value-defense.\"</p><p><blockquote>但纽约法律对这一规则有例外，称为“价值免责辩护”。</blockquote></p><p>If the beneficiary is entitled to the money and did not know it was accidentally wired, they can keep it. Revlon lenders said they believed Citibank was wiring prepayments for a loan. After all, the money accidentally wired was the exact amount \"to the penny\" Citibank owed them, although the loan wasn't set to mature for quite some time.</p><p><blockquote>如果受益人有权获得这笔钱，并且不知道这笔钱是意外电汇的，他们可以保留这笔钱。露华浓贷方表示，他们认为花旗银行正在为贷款预付款。毕竟，意外电汇的钱正是花旗银行欠他们的“一分钱一分货”的确切金额，尽管贷款在相当长的一段时间内都不会到期。</blockquote></p><p>\"We are extremely pleased with Judge [Jesse] Furman's thoughtful, thorough and detailed decision,\" said Benjamin Finestone, who represented two lenders, Brigade and HPS Investment Partners.</p><p><blockquote>“我们对[杰西]弗曼法官深思熟虑、彻底和详细的决定感到非常满意，”代表Brigade和HPS Investment Partners两家贷方的本杰明·芬斯通(Benjamin Finestone)表示。</blockquote></p><p><b>'Borderline irrational'</b></p><p><blockquote><b>“边缘非理性”</b></blockquote></p><p>The court ruled the lenders were justified in believing the payment was intentional. Citibank itself did not realize the magnitude of its mistake until nearly a day later.</p><p><blockquote>法院裁定贷款人有理由相信付款是故意的。花旗银行自己直到近一天后才意识到自己错误的严重性。</blockquote></p><p>\"To believe that Citibank, one of the most sophisticated financial institutions in the world, had made a mistake that had never happened before, to the tune of nearly $1 billion — would have been borderline irrational,\" the court document said.</p><p><blockquote>法庭文件称：“相信花旗银行作为世界上最成熟的金融机构之一，犯下了前所未有的错误，损失金额近10亿美元，这是近乎非理性的。”</blockquote></p><p>The judge's ruling used internal chats between HPS employees as further proof the creditors had no idea the wiring was a mistake until after Citibank sent notices. In the chat, which was dated a day after the mistaken wiring, HPS employees joked about the error:</p><p><blockquote>法官的裁决利用HPS员工之间的内部聊天作为进一步证据，证明债权人直到花旗银行发出通知后才知道线路是错误的。在错误接线一天后的聊天中，HPS员工开玩笑说这个错误：</blockquote></p><p><i>DFREY5: I feel really bad for the person that fat fingered a $900mm erroneous payment. Not a great career move . . . .</i></p><p><blockquote><i>DFREY5：我真的为那个错误支付9亿美元的人感到难过。不是一个伟大的职业发展.....</i></blockquote></p><p><i>JRABINOWIT12: certainly looks like they'll be looking for new people for their Ops group</i></p><p><blockquote><i>JRABINOWIT12：看起来他们肯定会为他们的运营团队寻找新人</i></blockquote></p><p><i>DFREY5: How was work today honey? It was ok, except I accidentally sent $900mm out to people who weren't supposed to have it</i></p><p><blockquote><i>亲爱的，今天工作怎么样？这很好，除了我不小心把9亿美元寄给了不应该拥有它的人</i></blockquote></p><p><i>DFREY5: Downside of work from home. maybe the dog hit the keyboard</i></p><p><blockquote><i>DFREY5：在家工作的缺点。也许是狗撞到了键盘</i></blockquote></p><p>The lenders cannot take the money and run. Since an appeal is a possibility, a temporary restraining order is still in effect.</p><p><blockquote>贷款人不能拿了钱就跑。由于上诉是可能的，临时限制令仍然有效。</blockquote></p><p>\"We strongly disagree with this decision and intend to appeal. We believe we are entitled to the funds and will continue to pursue a complete recovery of them,\" Citigroup said in a statement.</p><p><blockquote>花旗集团在一份声明中表示：“我们强烈反对这一决定，并打算上诉。我们相信我们有权获得这些资金，并将继续寻求完全收回这些资金。”</blockquote></p><p>The&nbsp;pandemic has hurt makeup brands&nbsp;like&nbsp;Revlon(REV), shares of which are trading more than 40% lower from a year ago.</p><p><blockquote>疫情伤害了露华浓(REV)等化妆品品牌，其股价较一年前下跌了40%以上。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/02/16/business/citibank-revlon-lawsuit-ruling/index.html\">CNN Business</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":{"C":"花旗"},"source_url":"https://edition.cnn.com/2021/02/16/business/citibank-revlon-lawsuit-ruling/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1121312034","content_text":"New York (CNN Business) After committing one of the \"biggest blunders in banking history,\" Citibank won't be allowed to recover the almost half a billion dollars it accidentally wired to Revlon's lenders, a US District Court judge ruled.Citibank, which was acting as Revlon's loan agent, meant to send about $8 million in interest payments to the cosmetic company's lenders. Instead, Citibank accidentally wired almost 100 times that amount, including $175 million to a hedge fund. In all,Citi(C)accidentally sent $900 million to Revlon's lenders.Citibank filed a lawsuit in August seeking the return of its funds, but it still has not received $500 million from 10 investment advisory firms after the accidental transfer.An exception to the ruleThe law usually punishes those who spend money accidentally deposited in their accounts. Accidental transfers are common in the digital age, and wires can be paid back instantly. A Pennsylvania couple faced felony charges after spending money accidentally deposited in their account.But New York law has exceptions to this rule, known as the \"discharge-for-value-defense.\"If the beneficiary is entitled to the money and did not know it was accidentally wired, they can keep it. Revlon lenders said they believed Citibank was wiring prepayments for a loan. After all, the money accidentally wired was the exact amount \"to the penny\" Citibank owed them, although the loan wasn't set to mature for quite some time.\"We are extremely pleased with Judge [Jesse] Furman's thoughtful, thorough and detailed decision,\" said Benjamin Finestone, who represented two lenders, Brigade and HPS Investment Partners.'Borderline irrational'The court ruled the lenders were justified in believing the payment was intentional. Citibank itself did not realize the magnitude of its mistake until nearly a day later.\"To believe that Citibank, one of the most sophisticated financial institutions in the world, had made a mistake that had never happened before, to the tune of nearly $1 billion — would have been borderline irrational,\" the court document said.The judge's ruling used internal chats between HPS employees as further proof the creditors had no idea the wiring was a mistake until after Citibank sent notices. In the chat, which was dated a day after the mistaken wiring, HPS employees joked about the error:DFREY5: I feel really bad for the person that fat fingered a $900mm erroneous payment. Not a great career move . . . .JRABINOWIT12: certainly looks like they'll be looking for new people for their Ops groupDFREY5: How was work today honey? It was ok, except I accidentally sent $900mm out to people who weren't supposed to have itDFREY5: Downside of work from home. maybe the dog hit the keyboardThe lenders cannot take the money and run. Since an appeal is a possibility, a temporary restraining order is still in effect.\"We strongly disagree with this decision and intend to appeal. We believe we are entitled to the funds and will continue to pursue a complete recovery of them,\" Citigroup said in a statement.The pandemic has hurt makeup brands like Revlon(REV), shares of which are trading more than 40% lower from a year ago.","news_type":1,"symbols_score_info":{"REV":0.9,"C":0.9}},"isVote":1,"tweetType":1,"viewCount":513,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}