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2021-09-04

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BMW reveals Apple's CarPlay system fully integrated in the i4's instrument cluster

2021-07-08

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2021-07-27

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A major emergency! China's stocks, bonds and foreign exchanges were suddenly attacked by air, and a rumor turned out to be the main reason for the decline?

2021-07-22

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Saudi Aramco Hacked, Demands $50 Million Ransom

2022-06-30

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Reminder: Due to the U.S. Independence Day holiday, U.S. stocks will be closed on July 4

2021-07-29

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IPO in Hong Kong: Li Auto's "Battle of Crossing the River"

2022-11-13

$Vanguard标普500ETF(VOO)$

2022-11-07

$Vanguard标普500ETF(VOO)$

2022-06-29

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The world is guessing when the United States will fall into recession, Sister Wood: It has already begun

2021-07-08

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The central bank requires personal information on online platforms to "disconnect" from financial institutions

2021-07-08

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2021-07-06

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Chinese concept stocks generally fell before the market: Didi's decline expanded to 30%! Will the US stock S&P 500 index set a new record today?

2021-07-06

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How to understand the recent trend of the US dollar and US Treasury yields?

2021-07-05

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15:24","market":"us","language":"zh","title":"Reminder: Due to the U.S. Independence Day holiday, U.S. stocks will be closed on July 4","url":"https://stock-news.laohu8.com/highlight/detail?id=1176657955","media":"老虎资讯综合","summary":"请留意具体时间，提前安排好您的投资计划。","content":"<p><html><head></head><body>Dear investors,</p><p>Due to the anniversary of the establishment of the Hong Kong Special Administrative Region (and the anniversary of the return of Hong Kong<b>The Hong Kong stock market will be closed for one day on July 1 (Friday)</b>。 In addition, due to the Independence Day holiday,<b>The U.S. stock market will be closed for one day on July 4 (Monday)</b>。 Please pay attention to the specific time and arrange your investment plan in advance.</p><p><img src=\"https://static.tigerbbs.com/b85335b584c40ee97169a866b3eb10b6\" tg-width=\"1080\" tg-height=\"1080\" referrerpolicy=\"no-referrer\"/></p><p>I wish you smooth investment</p><p>Tiger Securities</p><p><b>Market closure arrangement</b></p><p><b>US stocks</b></p><p>The market will be closed on July 4th (Monday) and open as usual from July 5th (Tuesday).</p><p><b>Hong Kong Stocks</b></p><p>The market will be closed on July 1st (Friday) and open as usual from July 4th (Monday).</p><p><b>A Shares</b></p><p>Trade as usual.</p><p><b>Shanghai Stock Connect, Shenzhen Stock Connect</b></p><p>The service will not be available from June 30th (Thursday) to July 1st (Friday), and will be open as usual from July 4th (Monday).</p><p><b>Stock Connect</b></p><p>The service will not be provided on July 1st (Friday), but will be open as usual from July 4th (Monday).</p><p><b>Singapore stock market, Australian market</b></p><p>Trade as usual.</p><p><b>Background Introduction</b></p><p><b>Anniversary of the Establishment of Hong Kong Special Administrative Region</b></p><p>The anniversary of Hong Kong's return to the motherland is July 1st every year. On July 1, 1997, the Government of the Hong Kong Special Administrative Region of the People's Republic of China was established. Since then, this day has become the anniversary of Hong Kong's return.</p><p>2022 marks the 25th anniversary of Hong Kong's return to the motherland.</p><p><img src=\"https://static.tigerbbs.com/f228e2be416213ddd5f57b144bf15712\" tg-width=\"860\" tg-height=\"570\" referrerpolicy=\"no-referrer\"/></p><p><b>Independence Day</b></p><p>Independence Day (also known as Fourth of July or July Fourth) is one of the major legal holidays in the United States. It is dated on July 4th of each year to commemorate the formal adoption of the Declaration of Independence by the Continental Congress in Philadelphia on July 4, 1776.</p><p></body></html></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>Reminder: Due to the U.S. Independence Day holiday, U.S. stocks will be closed on July 4</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\">\nReminder: Due to the U.S. Independence Day holiday, U.S. stocks will be closed on July 4\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\">2022-06-29 15:24</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Dear investors,</p><p>Due to the anniversary of the establishment of the Hong Kong Special Administrative Region (and the anniversary of the return of Hong Kong<b>The Hong Kong stock market will be closed for one day on July 1 (Friday)</b>。 In addition, due to the Independence Day holiday,<b>The U.S. stock market will be closed for one day on July 4 (Monday)</b>。 Please pay attention to the specific time and arrange your investment plan in advance.</p><p><img src=\"https://static.tigerbbs.com/b85335b584c40ee97169a866b3eb10b6\" tg-width=\"1080\" tg-height=\"1080\" referrerpolicy=\"no-referrer\"/></p><p>I wish you smooth investment</p><p>Tiger Securities</p><p><b>Market closure arrangement</b></p><p><b>US stocks</b></p><p>The market will be closed on July 4th (Monday) and open as usual from July 5th (Tuesday).</p><p><b>Hong Kong Stocks</b></p><p>The market will be closed on July 1st (Friday) and open as usual from July 4th (Monday).</p><p><b>A Shares</b></p><p>Trade as usual.</p><p><b>Shanghai Stock Connect, Shenzhen Stock Connect</b></p><p>The service will not be available from June 30th (Thursday) to July 1st (Friday), and will be open as usual from July 4th (Monday).</p><p><b>Stock Connect</b></p><p>The service will not be provided on July 1st (Friday), but will be open as usual from July 4th (Monday).</p><p><b>Singapore stock market, Australian market</b></p><p>Trade as usual.</p><p><b>Background Introduction</b></p><p><b>Anniversary of the Establishment of Hong Kong Special Administrative Region</b></p><p>The anniversary of Hong Kong's return to the motherland is July 1st every year. On July 1, 1997, the Government of the Hong Kong Special Administrative Region of the People's Republic of China was established. Since then, this day has become the anniversary of Hong Kong's return.</p><p>2022 marks the 25th anniversary of Hong Kong's return to the motherland.</p><p><img src=\"https://static.tigerbbs.com/f228e2be416213ddd5f57b144bf15712\" tg-width=\"860\" tg-height=\"570\" referrerpolicy=\"no-referrer\"/></p><p><b>Independence Day</b></p><p>Independence Day (also known as Fourth of July or July Fourth) is one of the major legal holidays in the United States. It is dated on July 4th of each year to commemorate the formal adoption of the Declaration of Independence by the Continental Congress in Philadelphia on July 4, 1776.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3877d7f890a3e97cbb441a2ccfdf29da","relate_stocks":{".DJI":"道琼斯","HSI":"恒生指数"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176657955","content_text":"尊敬的投资者：因香港特别行政区成立纪念日（暨香港回归纪念日），港股市场于7月1日（周五）休市一天。此外，因美国独立日假期，美股市场将于7月4日（周一）休市一天。请留意具体时间，提前安排好您的投资计划。预祝投资顺利老虎证券休市安排美股7月4日（周一）休市，7月5日（周二）起照常开市。港股7月1日（周五）休市，7月4日（周一）起照常开市。A股照常交易。沪股通、深股通6月30日（周四）至7月1日（周五）不提供服务，7月4日（星期一）起照常开通。港股通7月1日（周五）不提供服务，7月4日（周一）起照常开通。新加坡股市、澳大利亚市场照常交易。背景介绍香港特别行政区成立纪念日暨香港回归纪念日，为每年的7月1日。1997年7月1日，中华人民共和国香港特别行政区政府成立。从此，这一天成为香港回归纪念日。2022年是香港回归祖国25周年。美国独立日独立日（Independence Day，又称Fourth of July或July Fourth）是美国的主要法定节日之一，日期为每年7月4日，以纪念1776年7月4日大陆会议在费城正式通过《独立宣言》。","news_type":1,"symbols_score_info":{".DJI":0.9,"HSI":0.9}},"isVote":1,"tweetType":1,"viewCount":1827,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9042362350,"gmtCreate":1656434478670,"gmtModify":1676535827828,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087693924266930","idStr":"4087693924266930"},"themes":[],"htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9042362350","repostId":"1157047337","repostType":4,"repost":{"id":"1157047337","kind":"news","pubTimestamp":1656430587,"share":"https://ttm.financial/m/news/1157047337?lang=en_US&edition=fundamental","pubTime":"2022-06-28 23:36","market":"us","language":"zh","title":"The world is guessing when the United States will fall into recession, Sister Wood: It has already begun","url":"https://stock-news.laohu8.com/highlight/detail?id=1157047337","media":"华尔街见闻","summary":"木头姐认为，供应链问题和通胀，已经将美国经济拖入深渊。","content":"<p><html><head></head><body>Author: Cao Zexi</p><p>While Wall Street bosses are arguing about when the United States will fall into recession, \"Sister Wood\" Cathie Wood believes that the United States has fallen into an economic recession, and she admits that she underestimates the severity and persistence of inflation in the United States.</p><p>Wood says:</p><p>We think we're in a recession. We think there's a big problem with inventory … I've never seen such a large increase in inventory in my 45-year career. Wood said inflation was higher than she expected due to supply chain disruptions and geopolitical risks:</p><p>We were wrong about one thing, we didn't realize inflation was going to last so long. The supply chain problem, I can't believe it, has been going on for more than two years, and at that time we did not expect the conflict between Russia and Ukraine. Inflation has always been a bigger problem, but it's going to send us into deflation. Wood believes consumers are feeling the rapid rise in prices, which is reflected in sentiment data that fell to record lows. She cited a University of Michigan consumer survey showing that this figure was 50 in June, the lowest level ever.</p><p>U.S. inflation, measured by the consumer price index, rose 8.6% year-on-year in May, the fastest increase since December 1981.</p><p>The market generally believes that 2022 is Wood's Waterloo. In the face of rising interest rates, the fund she manages has emerged as one of the biggest losers this year. Her flagship active fund, the Ark Innovation ETF (ARKK), is down 52% this year and 66% from its 52-week high.</p><p>Still, Wood said her clients mostly stick to her funds, and new money is pouring in as investors seek to diversify in a depressed market. ARKK's inflows in June have surpassed $180 million, according to FactSet:</p><p>I think the inflows are happening because our clients have been moving away from broad-based benchmark indexes like the Nasdaq 100, and we're fully committed to disruptive innovation. Innovation can solve problems. At present, the mainstream thinking in the market is still that the economic recession is getting closer and closer, but it has not yet arrived.</p><p>The recent crash of multiple macro data in the United States indicates that the U.S. economy is facing the risk of recession. On Monday, the overall corporate activity index of the June Texas Manufacturing Survey released by the Dallas Fed plummeted to-17.7 from-7.3 in May, the lowest point since May 2020. The index value was also far worse than market expectations of-3.1. The preliminary values of Markit manufacturing, service and comprehensive PMI in June in the United States released last week fell across the board, all falling short of expectations. Among them, the manufacturing PMI recorded 52.4, a 23-month low, and the manufacturing output index fell below the boom for the first time in two years. The watershed 50, the service industry and the comprehensive PMI both hit five-month lows.</p><p>Currently, on the one hand, there are concerns about inflation at a 40-year high in the United States, and on the other hand, there are concerns about the slowdown in corporate profit growth, the slowdown or even recession of the overall U.S. economy. Although U.S. stocks have rebounded significantly since mid-June, and the 3.1% increase in the S&P 500 index last Friday was the largest one-day increase in more than two years, investors are still \"scared\", hedge funds are cautious, and many Wall Street analysts believe that the rebound may be short-lived.</p><p>Not only the United States, but also Europe on the other side of the Atlantic is having a hard time. In June, the initial value of the euro zone comprehensive PMI dropped to 51.9, a 16-month low. Among them, the growth of France and Germany, the two economic \"locomotives\", slowed down sharply, and Britain showed signs of economic stagnation.</p><p>At the same time, the market is also facing the aggressive tightening of the Federal Reserve and the looming natural gas crisis in Europe. Therefore, economists are becoming increasingly pessimistic and believe that it is \"increasingly possible\" that Europe and the United States will fall into economic recession, and the risk is rising sharply.</p><p></body></html></p>","source":"highlight_wallstreetcn","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>The world is guessing when the United States will fall into recession, Sister Wood: It has already begun</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\">\nThe world is guessing when the United States will fall into recession, Sister Wood: It has already begun\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2022-06-28 23:36</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Author: Cao Zexi</p><p>While Wall Street bosses are arguing about when the United States will fall into recession, \"Sister Wood\" Cathie Wood believes that the United States has fallen into an economic recession, and she admits that she underestimates the severity and persistence of inflation in the United States.</p><p>Wood says:</p><p>We think we're in a recession. We think there's a big problem with inventory … I've never seen such a large increase in inventory in my 45-year career. Wood said inflation was higher than she expected due to supply chain disruptions and geopolitical risks:</p><p>We were wrong about one thing, we didn't realize inflation was going to last so long. The supply chain problem, I can't believe it, has been going on for more than two years, and at that time we did not expect the conflict between Russia and Ukraine. Inflation has always been a bigger problem, but it's going to send us into deflation. Wood believes consumers are feeling the rapid rise in prices, which is reflected in sentiment data that fell to record lows. She cited a University of Michigan consumer survey showing that this figure was 50 in June, the lowest level ever.</p><p>U.S. inflation, measured by the consumer price index, rose 8.6% year-on-year in May, the fastest increase since December 1981.</p><p>The market generally believes that 2022 is Wood's Waterloo. In the face of rising interest rates, the fund she manages has emerged as one of the biggest losers this year. Her flagship active fund, the Ark Innovation ETF (ARKK), is down 52% this year and 66% from its 52-week high.</p><p>Still, Wood said her clients mostly stick to her funds, and new money is pouring in as investors seek to diversify in a depressed market. ARKK's inflows in June have surpassed $180 million, according to FactSet:</p><p>I think the inflows are happening because our clients have been moving away from broad-based benchmark indexes like the Nasdaq 100, and we're fully committed to disruptive innovation. Innovation can solve problems. At present, the mainstream thinking in the market is still that the economic recession is getting closer and closer, but it has not yet arrived.</p><p>The recent crash of multiple macro data in the United States indicates that the U.S. economy is facing the risk of recession. On Monday, the overall corporate activity index of the June Texas Manufacturing Survey released by the Dallas Fed plummeted to-17.7 from-7.3 in May, the lowest point since May 2020. The index value was also far worse than market expectations of-3.1. The preliminary values of Markit manufacturing, service and comprehensive PMI in June in the United States released last week fell across the board, all falling short of expectations. Among them, the manufacturing PMI recorded 52.4, a 23-month low, and the manufacturing output index fell below the boom for the first time in two years. The watershed 50, the service industry and the comprehensive PMI both hit five-month lows.</p><p>Currently, on the one hand, there are concerns about inflation at a 40-year high in the United States, and on the other hand, there are concerns about the slowdown in corporate profit growth, the slowdown or even recession of the overall U.S. economy. Although U.S. stocks have rebounded significantly since mid-June, and the 3.1% increase in the S&P 500 index last Friday was the largest one-day increase in more than two years, investors are still \"scared\", hedge funds are cautious, and many Wall Street analysts believe that the rebound may be short-lived.</p><p>Not only the United States, but also Europe on the other side of the Atlantic is having a hard time. In June, the initial value of the euro zone comprehensive PMI dropped to 51.9, a 16-month low. Among them, the growth of France and Germany, the two economic \"locomotives\", slowed down sharply, and Britain showed signs of economic stagnation.</p><p>At the same time, the market is also facing the aggressive tightening of the Federal Reserve and the looming natural gas crisis in Europe. Therefore, economists are becoming increasingly pessimistic and believe that it is \"increasingly possible\" that Europe and the United States will fall into economic recession, and the risk is rising sharply.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3663281\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/d926776f752c08f272e4ba22a079a81f","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://wallstreetcn.com/articles/3663281","is_english":false,"share_image_url":"https://static.laohu8.com/cc96873d3d23ee6ac10685520df9c100","article_id":"1157047337","content_text":"作者：曹泽熙就在华尔街的大佬们为美国到底什么时候陷入衰退争论不休的时候，“木头姐”Cathie Wood则认为，美国已经陷入经济衰退，她承认自己低估了美国通胀的严重性和持续性。Wood说：我们认为我们正处于衰退之中。我们认为库存存在一个大问题……我45年的职业生涯中从未见过如此大幅度的库存增加。Wood表示，由于供应链中断和地缘政治风险，通胀比她预期的要高：我们在一件事上错了，我们没有意识到通胀会持续这么久。供应链的问题，不敢相信，已经持续了两年多的时间，而那个时候我们还没预料到俄乌冲突。通货膨胀一直是一个更大的问题，但它将让我们陷入通货紧缩。Wood认为，消费者正在感受到价格的快速上涨，这反映在跌至历史低点的情绪数据中。她援引密歇根大学的消费者调查显示，6月份这一数据为50，是有史以来的最低水平。美国以消费者价格指数衡量的通货膨胀率在5月份同比上涨8.6%，是自1981年12月以来的最快涨幅。市场普遍认为，2022年是Wood的滑铁卢。面对利率上升，她管理的基金成为今年以来最大的输家之一。她的旗舰主动基金Ark Innovation ETF (ARKK) 今年以来已下跌52%，较52周高点下跌66%。尽管如此，Wood表示，她的客户大多坚持她的基金，随着投资者在低迷的市场中寻求多元化，新资金正在涌入。根据 FactSet的数据，ARKK 6月份的资金流入已超过1.8亿美元：我认为资金流入正在发生，因为我们的客户一直在远离纳斯达克100等基础广泛的基准指数，我们完全致力于颠覆性创新。创新才能解决问题。目前，市场主流的想法依然是，经济衰退已经是越来越近，但是还没有到来。近来美国多个宏观数据崩盘预示着美国经济面临衰退风险。周一达拉斯联储公布的6月得州制造业调查总体企业活动指数从5月的-7.3暴跌至-17.7，创2020年5月以来的最低点，该指数数值也远逊于市场预期的-3.1。上周公布的美国6月Markit制造业、服务业、综合PMI初值全线滑落，均不及预期，其中制造业PMI录得52.4，创23个月新低，制造业产出指数两年来首次跌破荣枯分水岭50，服务业和综合PMI均创5个月新低。当前，一边是对美国处于40年高点通胀的担忧，一边又是企业利润增速放缓、美国整体经济的放缓甚至衰退的担忧。虽然美股自6月中旬以来显著反弹，上周五标普500指数3.1%的涨幅更是创下两年多来的最大单日涨幅，但投资者依旧“惶恐”，对冲基金谨慎，不少华尔街分析师们认为反弹或是短暂的。不止美国，大西洋彼岸的欧洲日子也不好过。6月份欧元区综合PMI初值降至51.9，创下16个月来的低点，其中两个经济“火车头”法国和德国的增长急剧放缓，英国更是显露出经济停滞的信号。与此同时，市场还在同时面对美联储的激进紧缩，以及欧洲日益逼近的天然气危机，因此经济学家愈发悲观，并认为欧美陷入经济衰退“越来越有可能”，风险正在急剧上升。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2164,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815768374,"gmtCreate":1630720662198,"gmtModify":1676530383925,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087693924266930","idStr":"4087693924266930"},"themes":[],"htmlText":"woo","listText":"woo","text":"woo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/815768374","repostId":"2164805574","repostType":2,"repost":{"id":"2164805574","kind":"news","pubTimestamp":1630713600,"share":"https://ttm.financial/m/news/2164805574?lang=en_US&edition=fundamental","pubTime":"2021-09-04 08:00","market":"hk","language":"zh","title":"BMW reveals Apple's CarPlay system fully integrated in the i4's instrument cluster","url":"https://stock-news.laohu8.com/highlight/detail?id=2164805574","media":"新浪科技综合","summary":"最近的宣传材料显示，宝马即将推出的旗舰电动车“i4”具有迄今为止最完整的苹果CarPlay体验之一。i4有两个弧形显示屏和一个平视显示器。所有三个显示屏都可以同时显示来自苹果CarPlay的信息。宝马i4安装了iDrive 8车载系统，它支持无线苹果CarPlay，抬头显示器中的苹果地图转弯提示，以及支持仪表盘中显示地图和方向。BMW iDrive 8具有完全整合苹果CarPlay和Android Auto的功能。宝马i4今年晚些时候在欧洲上市，2022年夏天在美国上市。","content":"<p><html><body>This article is from cnBeta</p><p>Recent promotional material has revealed BMW's upcoming flagship EV 'i4' has its most complete yet<a href=\"https://laohu8.com/S/AAPL\">Apple</a>One of the CarPlay experiences. BMW described the i4's Apple CarPlay experience as \"more seamless\". The i4 has two curved displays and a head-up display. All three displays can display information from Apple CarPlay simultaneously.</p><p><figure><img h=\"450\" src=\"http://n.sinaimg.cn/spider20210904/450/w800h450/20210904/0ce8-cc2d2303e62eae09a51ce055d8346b84.jpg\" w=\"800\"/><h2></h2></figure>The BMW i4 is equipped with the iDrive 8 in-vehicle system, which supports wireless Apple CarPlay, Apple Map turning tips in the head-up display, and supports the display of maps and directions in the dashboard.</p><p>The new generation of BMW iDrive 8 has increased flexibility, making it simpler and more convenient to use third-party apps in the car in the future. The BMW iDrive 8 features full integration of Apple CarPlay and Android Auto. The large screen that controls the display displays all available applications clearly in the menus of the system. The user's favorite applications can be launched quickly and conveniently through the main menu or toolbar. The greater integration of app functionality into the information display and even the BMW head-up display also makes for a seamless transition from the whole screen grouping.</p><p><div sax-type=\"proxy\"></div>Music streaming and communication apps are now integrated into the BMW iDrive 8. They are displayed as the original source in the main menu, enabling customers to take full advantage of the functionality of their app.</p><p>Many vehicles that have recently used Apple CarPlay already show limited turning direction information from Apple Maps on the driver's display, but BMW's full integration of Apple Maps into the dashboard is the first implementation of its kind. Starting with iOS 13, CarPlay already supports cornering tips and Apple Maps, but BMW was one of the first companies to make Apple Maps fully functional on the second-display dashboard.</p><p>BMW has been an early adopter of Apple's car-related software features in recent years, such as Digital Key and Ultra-Broadband Digital Key +, although it only started offering CarPlay in 2016 and has been criticized for charging an annual usage fee of $80.</p><p>The BMW i4 goes on sale in Europe later this year and in the US in the summer of 2022.</p><p><div><img src=\"http://n.sinaimg.cn/default/2fb77759/20151125/320X320.png\"/></div></body></html></p>","source":"sina_tech","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>BMW reveals Apple's CarPlay system fully integrated in the i4's instrument cluster</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\">\nBMW reveals Apple's CarPlay system fully integrated in the i4's instrument cluster\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪科技综合</strong><span class=\"h-time small\">2021-09-04 08:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><body>This article is from cnBeta</p><p>Recent promotional material has revealed BMW's upcoming flagship EV 'i4' has its most complete yet<a href=\"https://laohu8.com/S/AAPL\">Apple</a>One of the CarPlay experiences. BMW described the i4's Apple CarPlay experience as \"more seamless\". The i4 has two curved displays and a head-up display. All three displays can display information from Apple CarPlay simultaneously.</p><p><figure><img h=\"450\" src=\"http://n.sinaimg.cn/spider20210904/450/w800h450/20210904/0ce8-cc2d2303e62eae09a51ce055d8346b84.jpg\" w=\"800\"/><h2></h2></figure>The BMW i4 is equipped with the iDrive 8 in-vehicle system, which supports wireless Apple CarPlay, Apple Map turning tips in the head-up display, and supports the display of maps and directions in the dashboard.</p><p>The new generation of BMW iDrive 8 has increased flexibility, making it simpler and more convenient to use third-party apps in the car in the future. The BMW iDrive 8 features full integration of Apple CarPlay and Android Auto. The large screen that controls the display displays all available applications clearly in the menus of the system. The user's favorite applications can be launched quickly and conveniently through the main menu or toolbar. The greater integration of app functionality into the information display and even the BMW head-up display also makes for a seamless transition from the whole screen grouping.</p><p><div sax-type=\"proxy\"></div>Music streaming and communication apps are now integrated into the BMW iDrive 8. They are displayed as the original source in the main menu, enabling customers to take full advantage of the functionality of their app.</p><p>Many vehicles that have recently used Apple CarPlay already show limited turning direction information from Apple Maps on the driver's display, but BMW's full integration of Apple Maps into the dashboard is the first implementation of its kind. Starting with iOS 13, CarPlay already supports cornering tips and Apple Maps, but BMW was one of the first companies to make Apple Maps fully functional on the second-display dashboard.</p><p>BMW has been an early adopter of Apple's car-related software features in recent years, such as Digital Key and Ultra-Broadband Digital Key +, although it only started offering CarPlay in 2016 and has been criticized for charging an annual usage fee of $80.</p><p>The BMW i4 goes on sale in Europe later this year and in the US in the summer of 2022.</p><p><div><img src=\"http://n.sinaimg.cn/default/2fb77759/20151125/320X320.png\"/></div></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://tech.sina.cn/mobile/xp/2021-09-04/detail-iktzscyx2174817.d.html?vt=4\">新浪科技综合</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://k.sinaimg.cn/n/tech/transform/667/w400h267/20210904/219e-b10b42122d792e6addc11289839aa0ee.jpg/w120h90l50t13d0.jpg","relate_stocks":{"AAPL":"苹果"},"source_url":"https://tech.sina.cn/mobile/xp/2021-09-04/detail-iktzscyx2174817.d.html?vt=4","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164805574","content_text":"本文来自cnBeta\n最近的宣传材料显示，宝马即将推出的旗舰电动车“i4”具有迄今为止最完整的苹果CarPlay体验之一。宝马将i4的苹果CarPlay体验描述为“更加无缝”。i4有两个弧形显示屏和一个平视显示器。所有三个显示屏都可以同时显示来自苹果CarPlay的信息。\n\n\n\n\n宝马i4安装了iDrive 8车载系统，它支持无线苹果CarPlay，抬头显示器中的苹果地图转弯提示，以及支持仪表盘中显示地图和方向。\n新一代BMW iDrive 8具有更高的灵活性，使得未来在车内使用第三方应用程序变得更加简单和方便。BMW iDrive 8具有完全整合苹果CarPlay和Android Auto的功能。控制显示屏的大屏幕在系统的菜单中清晰地显示所有可用的应用程序。用户最喜欢的应用程序可以通过主菜单或工具栏快速而方便地启动。将应用程序功能更多地整合到信息显示屏甚至BMW平视显示器中，也使整个屏幕分组实现了无缝过渡。\n音乐流媒体和通信应用程序现在被整合到BMW iDrive 8中。它们在主菜单中被显示为原始来源，使客户能够充分利用其应用程序的功能。\n许多最近使用苹果CarPlay的车辆已经在驾驶员显示屏上显示了来自苹果地图的有限的转弯方向信息，但宝马将苹果地图完全整合到仪表盘中，是同类产品的首次实施。从iOS 13开始，CarPlay已经支持转弯提示和苹果地图，但宝马是首批在第二显示屏仪表盘上实现苹果地图全功能的公司之一。\n近年来，宝马一直是苹果汽车相关软件功能的早期采用者，如数字钥匙和超宽频数字钥匙+，尽管它在2016年才开始提供CarPlay，并因每年收取80美元的使用费而受到批评。\n宝马i4今年晚些时候在欧洲上市，2022年夏天在美国上市。","news_type":1,"symbols_score_info":{"AAPL":1}},"isVote":1,"tweetType":1,"viewCount":3213,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808340489,"gmtCreate":1627560624041,"gmtModify":1703492369610,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087693924266930","idStr":"4087693924266930"},"themes":[],"htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/808340489","repostId":"1136422208","repostType":4,"repost":{"id":"1136422208","kind":"news","weMediaInfo":{"introduction":"新三板第一媒体，由资深金融人和资深媒体人创办。","home_visible":1,"media_name":"读懂财经","id":"1060193092","head_image":"https://static.tigerbbs.com/0151ecd107de45069beb5d8f191d7326"},"pubTimestamp":1627559544,"share":"https://ttm.financial/m/news/1136422208?lang=en_US&edition=fundamental","pubTime":"2021-07-29 19:52","market":"us","language":"zh","title":"IPO in Hong Kong: Li Auto's \"Battle of Crossing the River\"","url":"https://stock-news.laohu8.com/highlight/detail?id=1136422208","media":"读懂财经","summary":"去年这个时间，理想汽车和小鹏汽车先后在美股上市，资本市场“新能源汽车”的风潮也愈刮愈烈。\n受概念炒作影响，造车新势力股价持续暴涨，但除去浮华之后，“御三家”的业绩却并不尽如人意。持续亏损犹如一块巨石，","content":"<p>This time last year,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>And<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>It has been listed on the U.S. stock market successively, and the trend of \"new energy vehicles\" in the capital market has become increasingly fierce.</p><p>Affected by the concept hype, the stock prices of new car-making forces continued to skyrocket, but after removing the glitz, the performance of \"Yusanjia\" was not satisfactory. Continuous losses are like a huge boulder, weighing heavily on investors' hearts.</p><p>However, in the context of rising sales and continuous expansion of scale, the market still gives new car-making forces a high valuation. The reason is that this market is large enough.</p><p>According to the CIC Report, from 2017 to 2020, China<a href=\"https://laohu8.com/S/600617\">National New Energy</a>Car sales soared from 600,000 to 1.2 million, with a compound annual growth rate of 26%, accounting for 5.8% of total passenger car sales in 2020. Looking to the future, from 2020 to 2025, the scale of new energy vehicles in China is expected to grow at a compound growth rate of 35.8%, much higher than the 4% growth rate of fuel vehicles.</p><p>According to the plan of the Ministry of Industry and Information Technology, by 2025, domestic sales of new energy vehicles will account for 20% of total vehicle sales. Policy support is the biggest benefit of this industry, which means that the next five years will be the biggest outlet for new energy vehicles.</p><p>The track is good enough, but it is not easy to get to the finish line. BYTON is a typical example. In its heyday, it invested 11 billion yuan to build a modern production base covering an area of 1,200 mu, but a financial crisis soon broke out. At the worst of last year, this one was almost as<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>There are only 41 workers left in a factory as big as a Chinese factory.</p><p>\"Building a car\" is a very expensive project, which not only tests the company's financial strength, but also requires them to be able to continue to raise funds. If they are a little careless, the money burned before will be wasted. This is why XPeng, ideals,<a href=\"https://laohu8.com/S/NIO\">Nio</a>The reason why the U.S. stock market has been listed, and there are tens of billions of funds lying on the account at the end of 2020, and it still chooses to go to Hong Kong for a second IPO.</p><p>The Hong Kong stock market highly recognizes new energy vehicles. XPeng Automobile, which was the first to go public for the second time, has not only been recognized by investment banks, but also received a huge investment from Alibaba, holding nearly 15% of its shares.</p><p>At a time when Sino-US relations are quite delicate, IPO in Hong Kong has become a \"battle across the river\" for new car-making forces. Only by winning this time can we have a chance to run into the future.</p><p>Following XPeng, Li Auto announced on July 26 that it had passed the hearing of the Hong Kong Stock Exchange. After the \"Battle of Crossing the River\" started, can the most impure ideal of \"electric vehicles\" stand out from the tight encirclement?</p><p><b>/01 /</b></p><p><b>The least expensive \"new car-making force\"</b></p><p>Compared with XPeng and NIO (NYSE: NIO), Ideal is definitely the best new car-making force, because Li Xiang has always hoped to make Li Auto the next Toyota.</p><p>In 2015,<a href=\"https://laohu8.com/S/ATHM\">Car Home</a>Still maintaining a high growth rate, Li Xiang decided to leave this project that he hatched. At that time, a friend once advised Li Xiang to \"mix\" for another two years. He said, \"We should build another Toyota in our lifetime. If I can't get the money, I'll pay 100 million dollars myself first.\"</p><p>As we all know, Toyota's success is inseparable from \"lean production\", which greatly improves Toyota's efficiency and effectively controls the company's costs. Therefore, Ideal has that frugality in its bones, and this is fully reflected in its financial report.</p><p>For employees, Li Xiang is not an \"ideal\" boss. Li Xiang once revealed to the media that the company's administration requires employees to buy the economy class with the lowest discount when traveling on business, and economy hotels have to live together with two same-sex people. In the end, these regulations effectively reduced the ideal expenses. In the past three years, the company's marketing and management expenses totaled 2.656 billion yuan, less than half of XPeng's and less than one-fifth of Nio's.</p><p><img src=\"https://static.tigerbbs.com/5936731439079e4626a71d9fb7398bc6\" tg-width=\"589\" tg-height=\"257\" referrerpolicy=\"no-referrer\"></p><p>In terms of research and development expenses, Ideal is also the least \"burning money\". From 2018 to Q1 of 2021, Ideal's total R&D expenditure reached 3.577 billion yuan. This figure is even less than the money Nio spent on R&D in 2018, and is only equivalent to 66% of XPeng's total in three years.</p><p><img src=\"https://static.tigerbbs.com/acb21455c81cb5cea08b8c16f377b6e9\" tg-width=\"589\" tg-height=\"252\" referrerpolicy=\"no-referrer\"></p><p>Saving in all aspects makes Ideal a \"new car-making force\" with the least loss. From 2018 to Q1 of 2021, Ideal's total net loss was 4.483 billion yuan. During the same period, XPeng and Nio lost 8.61 billion yuan and 26.69 billion yuan respectively.</p><p><img src=\"https://static.tigerbbs.com/13bd57ce9bc05a71759d6d06d673d065\" tg-width=\"589\" tg-height=\"248\" referrerpolicy=\"no-referrer\"></p><p>Objectively speaking, when everyone is stuck in the quagmire of losses, it is a great thing that Ideal can effectively control costs. Including its \"extended-range hybrid\" product strategy, it is more like a balanced choice that comprehensively considers factors such as cost, technology, product experience, and usage scenarios. This will bring the company closer to profitability, and it will give shareholders more peace of mind.</p><p>However, this ability to \"save money\" can only prove that Ideal is a company that is good at making products, but it is still far from the final success.</p><p><b>/02 /</b></p><p><b>How to realize the \"ideal\"?</b></p><p>The gameplay of new energy vehicles has never changed: cars are only carriers, and ecology is the key.</p><p>Tesla is the most successful new energy vehicle in the world. review's development can be found that if Tesla wants to succeed, it must take two major paths: achieving economies of scale and realizing ecology.</p><p>All businesses in the world that sell ecology are inseparable from one word: scale. According to Metcalfe's Law, when an ecosystem gathers more users, the greater the value it generates, and this value will increase exponentially with the number of users.</p><p>Of course, automobiles are originally the most typical industry with economies of scale. For new energy vehicle companies, what they do is not just pure hardware sales, but build a huge new energy vehicle ecosystem and make money through ecological effects. The first step in ecological construction is volume, and car delivery has become a key indicator.</p><p>Different from the many models of traditional car companies, Li Auto only has ONE model, Ideal ONE (including the 2021 model).</p><p>Since its launch, Li Auto has delivered a total of 63,700 vehicles, and the sales volume in a single quarter has increased from less than 1,000 units to 17,575 units. Li Xiang's next goal is to sell over 10,000 units in September this year. In terms of sales volume, Ideal ONE is the best-selling new energy SUV model in China in 2020, with a market share of approximately 9.7%. However, there is only one car, and as the cycle extends, its product competitiveness will gradually decline.</p><p><img src=\"https://static.tigerbbs.com/5554c48c321ff255ab9ab2df94200b70\" tg-width=\"589\" tg-height=\"339\" referrerpolicy=\"no-referrer\"></p><p>Theoretically, as the scale of users increases, the value of the ideal new energy vehicle ecosystem continues to increase, and then revenue is generated through value-added services. This converts the one-time consumption of ordinary cars into sustainable continuous income. As long as users are still using ideal services, they will continue to contribute income to them.</p><p>On the other hand, if the business model of new energy vehicles wants to run successfully, it still needs to be ecological, which is ultimately reflected in the financial report that the gross profit margin continues to increase.</p><p>The biggest difference between new energy vehicles and ordinary vehicles is that new energy vehicles themselves need data support and will also create massive amounts of data. Hardware serves as a traffic entrance, and software is a means of profit. This has become a common gameplay for almost all new energy car companies.</p><p>Since the gross profit margin of vehicle sales is very low and the gross profit margin of service business is relatively high, this means that the higher the proportion of service business, the higher the gross profit margin of the company.</p><p>How to increase gross profit margin? This requires car companies to deepen technology research and development. At present, Ideal has independently developed a complete set of software systems.</p><p>Half of the ideal R&D investment goes to autonomous driving. At present, Ideal ONE belongs to the L2 level, but the company stated that it already has L4 level reserves and plans to apply it to products launched after 2022. However, real L4 and L5 level autonomous driving is not a purely technical issue. Real commercialization requires infrastructure construction such as road networks and regulations, which requires a long process.</p><p>Back to the ideal, the ideal state is that when more cars are sold, there will be more users of the software; When the software experience gets better and better, users will spread word of mouth to promote automobile marketing, thus achieving a positive feedback loop.</p><p>Therefore, automobile scale and software quality are the keys to enhancing the core value of the ideal ecology. This is also the \"ideal\" in the hearts of all players.</p><p><b>/03 /</b></p><p><b>The most impure \"electric car\"</b></p><p>While looking up at the sky, you should also look down at the road.</p><p>At present, although Ideal is the new car-making force closest to profitability, it is also the most impure \"electric vehicle\", which is what many investors have always questioned.</p><p>Since the birth of new energy vehicles, there has been a problem of insufficient battery life. In response to this problem, most new energy vehicle manufacturers choose to be hard on the front, mostly taking small cars as the incision, and improving user experience by continuously improving battery technology.</p><p>In the field of large SUVs that Ideal specializes in, the demand for large-capacity batteries is even stronger, and it is difficult to overcome the mileage problem in a short time. Therefore, it is ideal to choose the \"fuel plug-in\" method to assist in power generation, which is the so-called extended-range (EREV) electric vehicle.</p><p>The core driving force of EREV electric vehicles is still electricity, but due to the insufficient battery life at this stage, a range extension system of gasoline generator has been added in addition to the electric system. At this stage, this system can indeed provide longer endurance, but it is still regarded as a transitional choice for the development of \"fuel vehicles to pure electric vehicles\".</p><p><img src=\"https://static.tigerbbs.com/eee5f974a6cbb916656c87c66677f223\" tg-width=\"590\" tg-height=\"307\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Ideal himself also admits that EREV electric vehicles are not the mainstream of the market, and there is a lack of successful commercialization examples in the market. Previously, Ideal ONE had always regarded itself as an \"extended-range electric vehicle\" when it was promoted to the outside world, emphasizing that this solution can allow users to bid farewell to mileage anxiety. But last year, the company gave up this obsession. Li Xiang said that in the future, it will no longer emphasize the concept of Ideal ONE as an \"extended-range electric vehicle\", and the unified caliber will be a plug-in hybrid vehicle.</p><p>Ideal ONE (2021 model) has upgraded EREV to a plug-in hybrid (PHEV), and the principle is basically the same as EREV.</p><p>It should be noted that with the rapid development of battery technology, the batteries equipped with electric vehicles are bound to become larger and larger. It may only be a matter of time before EREV electric vehicles are replaced by pure electric electric vehicles.</p><p><img src=\"https://static.tigerbbs.com/6f771793dc37b32fcfeda8694b97cb44\" tg-width=\"404\" tg-height=\"222\" referrerpolicy=\"no-referrer\"></p><p>Based on the above concerns, Ideal has to lay out the high-voltage pure electric technology route. Currently, there are two high-voltage pure electric platforms under development by Ideal, Whale and Shark, both of which are expected to launch new models in 2023. In terms of extended-range electric vehicles, Ideal only has one X platform under development, and will launch a new model based on the X platform in 2022.</p><p>From the perspective of Ideal's strategic layout, it also agrees with the pure electric technology route, but in order to take the lead in realizing commercialization, Ideal can only choose \"curve to save the country\" in the early stage and increase mileage through EREV technology.</p><p><img src=\"https://static.tigerbbs.com/51287805f37d809fcfb51ffabc2adf5a\" tg-width=\"408\" tg-height=\"220\" referrerpolicy=\"no-referrer\"></p><p>Although Ideal is transforming to a pure circuit line, this has greatly increased its own uncertainty. When the ideal pure electric electric vehicle was launched, competitors' pure electric models had been iterated for several generations. How easy is it for Li Auto to complete one-step corner overtaking?</p><p>On the other hand, the simultaneous deployment of pure electric and extended-range technical routes will increase the company's research and development costs sharply. In the Q1 quarter of 2021 alone, the ideal R&D expenses will be close to half of the total R&D expenses in 2020, which will also increase the company's short-term performance fluctuations.</p><p>In terms of marketing, Ideal also chose a difficult road. Instead of choosing the traditional way of distributing goods by dealers, it built its own marketing system. On July 10th, Li Auto's 100th direct retail center officially landed in Xiashan, Zhanjiang, Guangdong. So far, its direct retail center has covered 65 cities across the country.</p><p>The fully self-operated sales model can better serve customers and control sales data, so as to adjust production capacity in time. However, the risks of this model cannot be ignored. Once automobile sales are blocked in the future, the fully self-operated model will further its operating risks.</p><p><img src=\"https://static.tigerbbs.com/6f0e0701ffa4418d7f9a9c4a2ac35824\" tg-width=\"590\" tg-height=\"363\" referrerpolicy=\"no-referrer\"></p><p>Li Xiang once said, \"It is a very important indicator not to rely on a large number of external blood transfusions\". But whether it is technical route research and development, store expansion or software layout, Ideal still has a long way to go. The new energy vehicle track is not a sprint race, but a rally.</p><p>This is a comprehensive test of the company's products, technology, sales, services, and financing. Obviously, it is far from the end of burning money for new energy vehicles. Therefore, listing in Hong Kong is of great significance to new automobile forces.</p><p>In May, Li Xiang said in response to rumors of \"secondary listing\" that the more money, the better. From this perspective, the ideal success of \"crossing the river\" is just one of the nodes of this rally.</p><p>In the next leg of the race, the ideal will rely on \"electric vehicles\" to speak.</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>IPO in Hong Kong: Li Auto's \"Battle of Crossing the River\"</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\">\nIPO in Hong Kong: Li Auto's \"Battle of Crossing the River\"\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1060193092\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/0151ecd107de45069beb5d8f191d7326);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">读懂财经 </p>\n<p class=\"h-time smaller\">2021-07-29 19:52</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>This time last year,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>And<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>It has been listed on the U.S. stock market successively, and the trend of \"new energy vehicles\" in the capital market has become increasingly fierce.</p><p>Affected by the concept hype, the stock prices of new car-making forces continued to skyrocket, but after removing the glitz, the performance of \"Yusanjia\" was not satisfactory. Continuous losses are like a huge boulder, weighing heavily on investors' hearts.</p><p>However, in the context of rising sales and continuous expansion of scale, the market still gives new car-making forces a high valuation. The reason is that this market is large enough.</p><p>According to the CIC Report, from 2017 to 2020, China<a href=\"https://laohu8.com/S/600617\">National New Energy</a>Car sales soared from 600,000 to 1.2 million, with a compound annual growth rate of 26%, accounting for 5.8% of total passenger car sales in 2020. Looking to the future, from 2020 to 2025, the scale of new energy vehicles in China is expected to grow at a compound growth rate of 35.8%, much higher than the 4% growth rate of fuel vehicles.</p><p>According to the plan of the Ministry of Industry and Information Technology, by 2025, domestic sales of new energy vehicles will account for 20% of total vehicle sales. Policy support is the biggest benefit of this industry, which means that the next five years will be the biggest outlet for new energy vehicles.</p><p>The track is good enough, but it is not easy to get to the finish line. BYTON is a typical example. In its heyday, it invested 11 billion yuan to build a modern production base covering an area of 1,200 mu, but a financial crisis soon broke out. At the worst of last year, this one was almost as<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>There are only 41 workers left in a factory as big as a Chinese factory.</p><p>\"Building a car\" is a very expensive project, which not only tests the company's financial strength, but also requires them to be able to continue to raise funds. If they are a little careless, the money burned before will be wasted. This is why XPeng, ideals,<a href=\"https://laohu8.com/S/NIO\">Nio</a>The reason why the U.S. stock market has been listed, and there are tens of billions of funds lying on the account at the end of 2020, and it still chooses to go to Hong Kong for a second IPO.</p><p>The Hong Kong stock market highly recognizes new energy vehicles. XPeng Automobile, which was the first to go public for the second time, has not only been recognized by investment banks, but also received a huge investment from Alibaba, holding nearly 15% of its shares.</p><p>At a time when Sino-US relations are quite delicate, IPO in Hong Kong has become a \"battle across the river\" for new car-making forces. Only by winning this time can we have a chance to run into the future.</p><p>Following XPeng, Li Auto announced on July 26 that it had passed the hearing of the Hong Kong Stock Exchange. After the \"Battle of Crossing the River\" started, can the most impure ideal of \"electric vehicles\" stand out from the tight encirclement?</p><p><b>/01 /</b></p><p><b>The least expensive \"new car-making force\"</b></p><p>Compared with XPeng and NIO (NYSE: NIO), Ideal is definitely the best new car-making force, because Li Xiang has always hoped to make Li Auto the next Toyota.</p><p>In 2015,<a href=\"https://laohu8.com/S/ATHM\">Car Home</a>Still maintaining a high growth rate, Li Xiang decided to leave this project that he hatched. At that time, a friend once advised Li Xiang to \"mix\" for another two years. He said, \"We should build another Toyota in our lifetime. If I can't get the money, I'll pay 100 million dollars myself first.\"</p><p>As we all know, Toyota's success is inseparable from \"lean production\", which greatly improves Toyota's efficiency and effectively controls the company's costs. Therefore, Ideal has that frugality in its bones, and this is fully reflected in its financial report.</p><p>For employees, Li Xiang is not an \"ideal\" boss. Li Xiang once revealed to the media that the company's administration requires employees to buy the economy class with the lowest discount when traveling on business, and economy hotels have to live together with two same-sex people. In the end, these regulations effectively reduced the ideal expenses. In the past three years, the company's marketing and management expenses totaled 2.656 billion yuan, less than half of XPeng's and less than one-fifth of Nio's.</p><p><img src=\"https://static.tigerbbs.com/5936731439079e4626a71d9fb7398bc6\" tg-width=\"589\" tg-height=\"257\" referrerpolicy=\"no-referrer\"></p><p>In terms of research and development expenses, Ideal is also the least \"burning money\". From 2018 to Q1 of 2021, Ideal's total R&D expenditure reached 3.577 billion yuan. This figure is even less than the money Nio spent on R&D in 2018, and is only equivalent to 66% of XPeng's total in three years.</p><p><img src=\"https://static.tigerbbs.com/acb21455c81cb5cea08b8c16f377b6e9\" tg-width=\"589\" tg-height=\"252\" referrerpolicy=\"no-referrer\"></p><p>Saving in all aspects makes Ideal a \"new car-making force\" with the least loss. From 2018 to Q1 of 2021, Ideal's total net loss was 4.483 billion yuan. During the same period, XPeng and Nio lost 8.61 billion yuan and 26.69 billion yuan respectively.</p><p><img src=\"https://static.tigerbbs.com/13bd57ce9bc05a71759d6d06d673d065\" tg-width=\"589\" tg-height=\"248\" referrerpolicy=\"no-referrer\"></p><p>Objectively speaking, when everyone is stuck in the quagmire of losses, it is a great thing that Ideal can effectively control costs. Including its \"extended-range hybrid\" product strategy, it is more like a balanced choice that comprehensively considers factors such as cost, technology, product experience, and usage scenarios. This will bring the company closer to profitability, and it will give shareholders more peace of mind.</p><p>However, this ability to \"save money\" can only prove that Ideal is a company that is good at making products, but it is still far from the final success.</p><p><b>/02 /</b></p><p><b>How to realize the \"ideal\"?</b></p><p>The gameplay of new energy vehicles has never changed: cars are only carriers, and ecology is the key.</p><p>Tesla is the most successful new energy vehicle in the world. review's development can be found that if Tesla wants to succeed, it must take two major paths: achieving economies of scale and realizing ecology.</p><p>All businesses in the world that sell ecology are inseparable from one word: scale. According to Metcalfe's Law, when an ecosystem gathers more users, the greater the value it generates, and this value will increase exponentially with the number of users.</p><p>Of course, automobiles are originally the most typical industry with economies of scale. For new energy vehicle companies, what they do is not just pure hardware sales, but build a huge new energy vehicle ecosystem and make money through ecological effects. The first step in ecological construction is volume, and car delivery has become a key indicator.</p><p>Different from the many models of traditional car companies, Li Auto only has ONE model, Ideal ONE (including the 2021 model).</p><p>Since its launch, Li Auto has delivered a total of 63,700 vehicles, and the sales volume in a single quarter has increased from less than 1,000 units to 17,575 units. Li Xiang's next goal is to sell over 10,000 units in September this year. In terms of sales volume, Ideal ONE is the best-selling new energy SUV model in China in 2020, with a market share of approximately 9.7%. However, there is only one car, and as the cycle extends, its product competitiveness will gradually decline.</p><p><img src=\"https://static.tigerbbs.com/5554c48c321ff255ab9ab2df94200b70\" tg-width=\"589\" tg-height=\"339\" referrerpolicy=\"no-referrer\"></p><p>Theoretically, as the scale of users increases, the value of the ideal new energy vehicle ecosystem continues to increase, and then revenue is generated through value-added services. This converts the one-time consumption of ordinary cars into sustainable continuous income. As long as users are still using ideal services, they will continue to contribute income to them.</p><p>On the other hand, if the business model of new energy vehicles wants to run successfully, it still needs to be ecological, which is ultimately reflected in the financial report that the gross profit margin continues to increase.</p><p>The biggest difference between new energy vehicles and ordinary vehicles is that new energy vehicles themselves need data support and will also create massive amounts of data. Hardware serves as a traffic entrance, and software is a means of profit. This has become a common gameplay for almost all new energy car companies.</p><p>Since the gross profit margin of vehicle sales is very low and the gross profit margin of service business is relatively high, this means that the higher the proportion of service business, the higher the gross profit margin of the company.</p><p>How to increase gross profit margin? This requires car companies to deepen technology research and development. At present, Ideal has independently developed a complete set of software systems.</p><p>Half of the ideal R&D investment goes to autonomous driving. At present, Ideal ONE belongs to the L2 level, but the company stated that it already has L4 level reserves and plans to apply it to products launched after 2022. However, real L4 and L5 level autonomous driving is not a purely technical issue. Real commercialization requires infrastructure construction such as road networks and regulations, which requires a long process.</p><p>Back to the ideal, the ideal state is that when more cars are sold, there will be more users of the software; When the software experience gets better and better, users will spread word of mouth to promote automobile marketing, thus achieving a positive feedback loop.</p><p>Therefore, automobile scale and software quality are the keys to enhancing the core value of the ideal ecology. This is also the \"ideal\" in the hearts of all players.</p><p><b>/03 /</b></p><p><b>The most impure \"electric car\"</b></p><p>While looking up at the sky, you should also look down at the road.</p><p>At present, although Ideal is the new car-making force closest to profitability, it is also the most impure \"electric vehicle\", which is what many investors have always questioned.</p><p>Since the birth of new energy vehicles, there has been a problem of insufficient battery life. In response to this problem, most new energy vehicle manufacturers choose to be hard on the front, mostly taking small cars as the incision, and improving user experience by continuously improving battery technology.</p><p>In the field of large SUVs that Ideal specializes in, the demand for large-capacity batteries is even stronger, and it is difficult to overcome the mileage problem in a short time. Therefore, it is ideal to choose the \"fuel plug-in\" method to assist in power generation, which is the so-called extended-range (EREV) electric vehicle.</p><p>The core driving force of EREV electric vehicles is still electricity, but due to the insufficient battery life at this stage, a range extension system of gasoline generator has been added in addition to the electric system. At this stage, this system can indeed provide longer endurance, but it is still regarded as a transitional choice for the development of \"fuel vehicles to pure electric vehicles\".</p><p><img src=\"https://static.tigerbbs.com/eee5f974a6cbb916656c87c66677f223\" tg-width=\"590\" tg-height=\"307\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Ideal himself also admits that EREV electric vehicles are not the mainstream of the market, and there is a lack of successful commercialization examples in the market. Previously, Ideal ONE had always regarded itself as an \"extended-range electric vehicle\" when it was promoted to the outside world, emphasizing that this solution can allow users to bid farewell to mileage anxiety. But last year, the company gave up this obsession. Li Xiang said that in the future, it will no longer emphasize the concept of Ideal ONE as an \"extended-range electric vehicle\", and the unified caliber will be a plug-in hybrid vehicle.</p><p>Ideal ONE (2021 model) has upgraded EREV to a plug-in hybrid (PHEV), and the principle is basically the same as EREV.</p><p>It should be noted that with the rapid development of battery technology, the batteries equipped with electric vehicles are bound to become larger and larger. It may only be a matter of time before EREV electric vehicles are replaced by pure electric electric vehicles.</p><p><img src=\"https://static.tigerbbs.com/6f771793dc37b32fcfeda8694b97cb44\" tg-width=\"404\" tg-height=\"222\" referrerpolicy=\"no-referrer\"></p><p>Based on the above concerns, Ideal has to lay out the high-voltage pure electric technology route. Currently, there are two high-voltage pure electric platforms under development by Ideal, Whale and Shark, both of which are expected to launch new models in 2023. In terms of extended-range electric vehicles, Ideal only has one X platform under development, and will launch a new model based on the X platform in 2022.</p><p>From the perspective of Ideal's strategic layout, it also agrees with the pure electric technology route, but in order to take the lead in realizing commercialization, Ideal can only choose \"curve to save the country\" in the early stage and increase mileage through EREV technology.</p><p><img src=\"https://static.tigerbbs.com/51287805f37d809fcfb51ffabc2adf5a\" tg-width=\"408\" tg-height=\"220\" referrerpolicy=\"no-referrer\"></p><p>Although Ideal is transforming to a pure circuit line, this has greatly increased its own uncertainty. When the ideal pure electric electric vehicle was launched, competitors' pure electric models had been iterated for several generations. How easy is it for Li Auto to complete one-step corner overtaking?</p><p>On the other hand, the simultaneous deployment of pure electric and extended-range technical routes will increase the company's research and development costs sharply. In the Q1 quarter of 2021 alone, the ideal R&D expenses will be close to half of the total R&D expenses in 2020, which will also increase the company's short-term performance fluctuations.</p><p>In terms of marketing, Ideal also chose a difficult road. Instead of choosing the traditional way of distributing goods by dealers, it built its own marketing system. On July 10th, Li Auto's 100th direct retail center officially landed in Xiashan, Zhanjiang, Guangdong. So far, its direct retail center has covered 65 cities across the country.</p><p>The fully self-operated sales model can better serve customers and control sales data, so as to adjust production capacity in time. However, the risks of this model cannot be ignored. Once automobile sales are blocked in the future, the fully self-operated model will further its operating risks.</p><p><img src=\"https://static.tigerbbs.com/6f0e0701ffa4418d7f9a9c4a2ac35824\" tg-width=\"590\" tg-height=\"363\" referrerpolicy=\"no-referrer\"></p><p>Li Xiang once said, \"It is a very important indicator not to rely on a large number of external blood transfusions\". But whether it is technical route research and development, store expansion or software layout, Ideal still has a long way to go. The new energy vehicle track is not a sprint race, but a rally.</p><p>This is a comprehensive test of the company's products, technology, sales, services, and financing. Obviously, it is far from the end of burning money for new energy vehicles. Therefore, listing in Hong Kong is of great significance to new automobile forces.</p><p>In May, Li Xiang said in response to rumors of \"secondary listing\" that the more money, the better. From this perspective, the ideal success of \"crossing the river\" is just one of the nodes of this rally.</p><p>In the next leg of the race, the ideal will rely on \"electric vehicles\" to speak.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c3461c9400040bdfdce3ecdd4882fbed","relate_stocks":{"02015":"理想汽车-W","LI":"理想汽车"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136422208","content_text":"去年这个时间，理想汽车和小鹏汽车先后在美股上市，资本市场“新能源汽车”的风潮也愈刮愈烈。\n受概念炒作影响，造车新势力股价持续暴涨，但除去浮华之后，“御三家”的业绩却并不尽如人意。持续亏损犹如一块巨石，重重地压在投资者心口。\n但在销量不断上涨，规模持续扩大的背景下，市场依然给予造车新势力们很高的估值，究其原因就在于这个市场足够大。\n据灼识谘询报告，2017年-2020年，中国新能源汽车销量从60万辆飙升至120万辆，年复合增长率高达26%，占2020年乘用车总销量的5.8%。放眼未来，2020年至2025年，中国新能源汽车规模预计将以35.8%的复合增长率增长，远高于燃油车4%的增速。\n而根据工信部规划，到2025年国内新能源汽车的销量要占到汽车总销量的20%。政策扶持是这个行业的最大利好，这就意味着未来五年将会是新能源汽车最大的风口。\n赛道足够好，但要想跑到终点却并不容易，拜腾就是一个典型。鼎盛时期，它曾投资110亿元，建了一座占地1200亩的现代化生产基地，但很快就爆发财务危机。去年最惨的时候，这座几乎跟特斯拉中国工厂一样大的工厂中只剩41个工人。\n“造车”是一个很烧钱的项目，不仅考验公司的资金实力，同时也需要它们能够持续融资，稍有不慎，此前烧掉的钱就会付诸东流。这也是为何小鹏、理想、蔚来已经完成美股上市，2020年末账上躺着数百亿资金，依然选择赴港二次IPO的原因。\n港股市场对新能源汽车极为认可，最先二次上市的小鹏汽车不仅获得了投行的肯定，而且还获阿里巨资入股，持有其近15%的股份。\n在中美关系颇为微妙的当下，赴港IPO成了造车新势力的“渡江战役”，赢了这一次才有机会奔向未来。\n紧随小鹏，理想汽车于7月26日宣布通过港交所聆讯。打响“渡江战役”后，最不纯粹的“电动车”理想能够突出重围吗？\n/ 01 /\n最不烧钱的“造车新势力”\n与小鹏和蔚来(NYSE:NIO)相比，理想绝对是最会过日子的造车新势力，因为一直以来李想都希望把理想汽车打造成下一个丰田。\n2015年，汽车之家仍保持较高的增速，李想却决定选择离开这个自己一手孵化的项目。当时好友曾劝李想再“混”两年，他说：“要在有生之年，再造一个丰田。如果融不到钱，我自己先掏一个亿美元。”\n众所周知，丰田的成功离不开“精益生产”，它大幅提升了丰田的效率，有效控制了公司的成本。因此，理想从骨子里就带着那股节俭劲，而这也完全体现在其财报中。\n对员工而言，李想并不是一个“理想”的老板。李想曾向媒体透露，公司行政要求员工出差必须买折扣最低的经济舱，经济酒店都要两个同性在一起住。最终，这些规定有效降低了理想的费用支出，过去三年公司的营销和管理花费合计26.56亿元，不到小鹏的一半，不足蔚来的五分之一。\n\n在研发费用方面，理想也是“烧钱”最少的。2018年-2021年Q1，理想研发费用合计支出达35.77亿元，这一数据甚至不到蔚来2018年一年在研发上烧的钱，仅相当于小鹏三年合计的66%。\n\n方方面面的节省，让理想成为亏钱最少的“造车新势力”。2018年-2021年Q1，理想合计净亏损44.83亿元。同期小鹏和蔚来分别亏了86.1亿元、266.9亿元。\n\n客观来说，当大家都陷在亏损泥潭，理想能有效做到控制成本是一件很了不起的事情。包括其“增程式混动”的产品策略，更像是一种综合考虑成本、技术、产品体验以及使用场景等因素下的平衡选择。这会让公司距离盈利更近，也会让股东更放心。\n不过，这种“省钱”能力，只能证明理想是一家善于做产品的公司，但距离最终的成功依然很远。\n/ 02 /\n“理想”如何实现？\n新能源汽车的玩法始终没有变：汽车只是载体，生态才是关键。\n特斯拉是世界上最成功的新能源汽车，复盘其发展可以发现，理想想要成功必须走通两大路径：达成规模效应、实现生态化。\n世界上所有以生态为卖点的生意，都离不开一个词：规模。根据“梅特卡夫法则”，当一个生态聚集的用户越多，那么其产生的价值也就越大，并且这个价值会随着用户数呈指数级增长。\n当然，汽车本来也是最典型的规模经济产业。对新能源汽车企业来说，它们做的事情绝不仅仅是单纯的硬件销售，而是构建一个庞大的新能源汽车生态，并通过生态效应赚钱。生态构建的第一步就是体量，汽车交付量就成为关键指标。\n不同于传统车企繁多的车型，理想汽车只有理想ONE一款车型（包含2021型）。\n从上市至今，理想汽车合计交付汽车6.37万辆，单季销交付量由不足千台提升至17575台，李想的下一个目标是今年9月销售过万。按销量计算，理想ONE是2020年中国最畅销的新能源SUV车型，市场份额约9.7%。不过，仅有一款车，随着周期的延长，其产品竞争力也会逐步下降。\n\n理论上，随着用户规模的提升，理想的新能源汽车生态的价值不断增加，然后通过增值服务的方式创收。这就将普通汽车的一次性消费转化成可持续的连续收入，只要用户还在使用理想的服务，那么就会继续为其贡献收入。\n另一方面，新能源汽车的商业模式想要成功跑通，还需要实现生态化，最终体现在财报中就是毛利率不断提升。\n新能源汽车与普通汽车最大的不同在于，新能源汽车自身需要数据支撑，同时也会创造海量的数据。硬件作为流量入口，软件则是盈利手段，这已经是几乎所有新能源车企的通用玩法。\n由于整车销售毛利率很低，而服务业务毛利率较高，这就意味着服务业务占比越高，公司的毛利率也就越高。\n如何提升毛利率？这就需要车企深耕技术研发。目前，理想已经自主研发了一整套软件系统。\n在理想的研发投入中，有一半用到了自动驾驶之上。目前理想ONE属于L2级，但公司表示已具备L4级别的储备，并计划应用于2022之后推出的产品中。不过，真正L4、L5级别的自动驾驶不是一个纯技术问题，真正的商业化落地需要路网、法规等基础建设，这需要一个漫长的过程。\n回到理想身上，最理想状态是当汽车卖的多了，软件的用户也就多了；当软件体验越来越好，用户又会口口相传促进汽车营销，从而达成正反馈循环。\n因此，汽车规模和软件质量，是提升理想生态核心价值的关键。这也是所有玩家心中的“理想”。\n/ 03 /\n最不纯粹的“电动车”\n抬头看天的同时，也要低头看路。\n目前看，理想虽是距离盈利最近的造车新势力，但同时它也是最不纯粹的“电动车”，这也是很多投资者始终质疑的地方。\n新能源汽车自诞生之日起，就存在电池续航不足的问题。针对这个问题，大多数新能源汽车厂家都选择正面硬刚，大多以小型车为切口，通过不断提升电池技术的方式来提升用户体验。\n而理想专攻的大型SUV领域，本身对大容量电池的需求就更为旺盛，很难在短时间内攻破里程难题。因此，理想选择“燃油外挂”的方式来辅助发电，也就是所谓增程式（EREV）电动车。\nEREV电动车的核心驱动力依然是电力，但由于现阶段电池续航能力不足，因此在电动系统之外还增加了一台汽油发电机的增程系统。就现阶段而言，这套系统确实能提供更远的续航能力，但还是被视为“燃油车向纯电车”发展的一个过渡选择。\n\n理想自己也承认，EREV电动车并非市场主流，市场中缺乏成功商业化的实例。此前，理想ONE对外宣传时一直以“增程式电动车”自居，强调这一解决方案可以让用户告别里程焦虑。但去年公司放弃这一执念，李想表示，未来不再强调理想ONE是“增程式电动车”概念，统一口径为插电式混合动力汽车。\n理想ONE（2021型）已经将EREV升级为插电式混合动力（PHEV），原理基本与EREV大致相同。\n需要说明的是，在电池技术飞速发展的当下，电动车所配备的电池势必会越来越大，EREV电动车被纯电电动车代替或许只是一个时间问题。\n\n基于以上担忧，理想不得不进行高压纯电技术路线的布局。目前，理想在研的高压纯电平台有Whale和Shark两款，预计均会在2023年推出新款车型。而增程式电动车方面，理想则只有一款X平台在研，并2022年推出基于X平台的新款车型。\n从理想的战略布局看，其也是认同纯电技术路线的，只不过为了率先实现商业化，理想初期只能选择“曲线救国”，通过EREV技术来增加里程。\n\n尽管理想正在向纯电路线转型，但这就大幅增加了自身的不确定性。当理想纯电电动车推出的时候，竞争对手的纯电车型已经迭代了好几代，理想汽车想要完成一步到位的弯道超车，谈何容易？\n另一方面，同时布局纯电和增程式两种技术路线，又会让公司的研发成本陡增。仅2021年Q1季度，理想的研发费用就接近2020年总研发费用的一半，这也会增大公司短期的业绩波动。\n在市场推广上，理想也选择了一条艰难之路，它没有选择传统经销商铺货的方式，而是自建营销体系。7月10日，理想汽车第100家直营零售中心正式落地广东湛江霞山，至此其直营零售中心已经覆盖了全国65个城市。\n完全自营的销售模式能够更好的服务客户、掌控销售数据，从而能够及时调整产能状况。但这种模式的风险也不容忽视，未来一旦汽车销售遇阻，那么完全自营的模式将会进一步其经营风险。\n\n李想曾说过，“不依赖于大量外部的输血，这是一个很重要的指标”。但无论是技术路线研发、门店扩张还是软件布局，理想还有很长的路要走。新能源汽车赛道不是冲刺赛，而是一场拉力赛。\n这是一次对公司产品、技术、销售、服务、融资的全方面考验，显而易见，目前远不是新能源汽车烧钱的尽头。因此，赴港上市对汽车新势力们意义非凡。\n5月，李想在回应“二次上市”传闻时表示，钱肯定是多多益善。从这个角度来说，理想成功“渡江”，也不过是这场拉力赛的节点之一。\n下一段赛程，理想要靠“电动车”说话了。","news_type":1,"symbols_score_info":{"02015":0.9,"LI":0.9}},"isVote":1,"tweetType":1,"viewCount":2155,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809277398,"gmtCreate":1627375610314,"gmtModify":1703488681525,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087693924266930","idStr":"4087693924266930"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/809277398","repostId":"1190808833","repostType":4,"isVote":1,"tweetType":1,"viewCount":2274,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172904201,"gmtCreate":1626925095903,"gmtModify":1703480705225,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087693924266930","idStr":"4087693924266930"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/172904201","repostId":"1163816978","repostType":4,"repost":{"id":"1163816978","kind":"news","pubTimestamp":1626924703,"share":"https://ttm.financial/m/news/1163816978?lang=en_US&edition=fundamental","pubTime":"2021-07-22 11:31","market":"us","language":"zh","title":"Saudi Aramco Hacked, Demands $50 Million Ransom","url":"https://stock-news.laohu8.com/highlight/detail?id=1163816978","media":"新浪科技","summary":"据美联社报道，有1TB的公司数据被非法访问。","content":"<p>According to news on the morning of July 22, the information of Saudi Aramco was leaked after a hacking attack. According to the Associated Press, 1TB of company data was illegally accessed. Company statement shows: Saudi Aramco recently discovered that third-party contractors indirectly leaked company data. We confirm that the data breach was not due to the breach of our systems and has no impact on our operations, and the company continues to maintain a strong cybersecurity posture. The Associated Press further reported that the hackers demanded $50 million as payment for deleting the data and demanded that it be paid in cryptocurrency.</p>","source":"sina_tech","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>Saudi Aramco Hacked, Demands $50 Million Ransom</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\">\nSaudi Aramco Hacked, Demands $50 Million Ransom\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪科技</strong><span class=\"h-time small\">2021-07-22 11:31</span>\n</p>\n</h4>\n</header>\n<article>\n<p>According to news on the morning of July 22, the information of Saudi Aramco was leaked after a hacking attack. According to the Associated Press, 1TB of company data was illegally accessed. Company statement shows: Saudi Aramco recently discovered that third-party contractors indirectly leaked company data. We confirm that the data breach was not due to the breach of our systems and has no impact on our operations, and the company continues to maintain a strong cybersecurity posture. The Associated Press further reported that the hackers demanded $50 million as payment for deleting the data and demanded that it be paid in cryptocurrency.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.sina.com.cn/tech/2021-07-22/doc-ikqcfnca8329201.shtml\">新浪科技</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/7d584aca182a0c36adb16d579518f97f","relate_stocks":{"USO":"美国原油ETF"},"source_url":"https://finance.sina.com.cn/tech/2021-07-22/doc-ikqcfnca8329201.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163816978","content_text":"7月22日上午消息，沙特阿美石油公司在一次黑客袭击后信息被泄露。据美联社报道，有1TB的公司数据被非法访问。公司声明显示：沙特阿美最近发现，第三方承包商间接泄露了公司的数据。我们确认，数据的泄露不是由于我们的系统被攻破，对我们的运营没有影响，公司继续保持着强大的网络安全态势。美联社进一步报道称，黑客索要5000万美元作为删除数据的报酬，并要求以加密货币支付。","news_type":1,"symbols_score_info":{"USO":0.9}},"isVote":1,"tweetType":1,"viewCount":3080,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143082461,"gmtCreate":1625752697453,"gmtModify":1703747859060,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087693924266930","idStr":"4087693924266930"},"themes":[],"htmlText":"woo","listText":"woo","text":"woo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/143082461","repostId":"1165245102","repostType":4,"isVote":1,"tweetType":1,"viewCount":3152,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143017148,"gmtCreate":1625752487484,"gmtModify":1703747848446,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087693924266930","idStr":"4087693924266930"},"themes":[],"htmlText":"wa","listText":"wa","text":"wa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/143017148","repostId":"1188969765","repostType":4,"repost":{"id":"1188969765","kind":"news","pubTimestamp":1625745301,"share":"https://ttm.financial/m/news/1188969765?lang=en_US&edition=fundamental","pubTime":"2021-07-08 19:55","market":"sh","language":"zh","title":"The central bank requires personal information on online platforms to \"disconnect\" from financial institutions","url":"https://stock-news.laohu8.com/highlight/detail?id=1188969765","media":"《财经》","summary":"这一要求并非新的指令，而是前期整改要求中的应有之义。","content":"<p>Text/Zhang Wei</p><p>Caijing reporters learned from multiple sources that the Credit Information Administration of the People's Bank of China recently issued a notice to online platform institutions, requiring online platforms to achieve a comprehensive \"direct disconnection\" between personal information and financial institutions.</p><p>This requirement is not a new instruction, but the proper meaning of the previous rectification requirements.</p><p>On April 29, 2021, the People's Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, the State Administration of Foreign Exchange and other financial management departments (hereinafter referred to as the financial management departments) jointly conducted regulatory interviews with 13 online platform companies engaged in financial business. The main reason for the interview is that these online platforms generally have serious violations such as engaging in financial business without a license or beyond the license scope, imperfect corporate governance mechanism, regulatory arbitrage, unfair competition, and damage to the legitimate rights and interests of consumers.</p><p>In view of the outstanding problems that are common in the financial business of online platform enterprises at present, the financial regulatory authorities have put forward seven major rectification requirements, one of which is to break the information monopoly and carry out personal credit reporting business strictly through licensed credit reporting agencies in accordance with laws and regulations.</p><p>According to this rectification requirement, the network platform directly provides the information voluntarily submitted by individuals, the information generated in the platform or the information obtained from the outside to financial institutions in the name of application information, identity information, basic information, personal portrait scoring information, etc. in the business cooperation with financial institutions, such as drainage, loan assistance and joint loan, and it is necessary to realize the comprehensive \"disconnection\" between personal information and financial institutions.</p><p>According to Caijing reporters, the above-mentioned institutions have completed preliminary rectification plans before June 30, 2021. The reason why the Credit Information Administration of the Central Bank issued a notice again to stop the direct connection between personal information on online platforms and financial institutions is that some of the above-mentioned institutions still directly provide personal information to financial institutions in their rectification plans.</p><p>An expert in the field of monopoly topics told Caijing that the online platform combines personal data with financial products, and the development of domestic mutual funds is such a simple logic. Under the current mode, all apps are doing personal credit reporting business, which is strictly non-compliant. \"Of course, this also has a certain relationship with the lag of China's credit reporting industry, which gives Internet companies room for arbitrage. In addition, it is also related to the lag of China's small, medium and micro enterprises and personal financial business itself.\"</p><p>A senior analyst in the financial industry told Caijing that the products of these platforms have a common feature, that is, they are based on payment, collect data through payment business, and then superimpose the promotion of higher-level financial products on the basis of payment. Everyone can see its benefits. It is the foundation of modern business, can promote digital transformation, and even drive the development of the real industry. However, there are also some problems, such as the problem of leverage ratio and the problem of user data collection, which in turn leads to the \"two-choice\" competition, etc., it has gradually formed a monopoly ecology. This is harmful to the protection of users' rights and interests, and even to the whole economic development.</p><p>Experts in the above-mentioned monopoly topic field said that if the policy is implemented in place, the way for all kinds of mobile apps to realize data value through financial services will be greatly narrowed, or basically blocked.</p><p>A senior researcher told the Caijing reporter that from the perspective of maintaining the large market mechanism, strengthening anti-monopoly is intended to maintain the normal operation of the market mechanism, which is the top level. The regulatory authorities emphasize financial compliance operations, licensed operations, serving entities, inclusive services, and financial consumers, effectively protecting consumers' rights and interests, and protecting information security. These all belong to the broad category of behavioral supervision, which reflects the continuous improvement of behavioral supervision as a \"double pillar\", which is also consistent with international experience. Enterprises must adapt to this regulatory climate.</p><p>At the same time, the construction of China's Internet financial credit information system is crucial. Recently, Zhu Peiqing, who works for Chifeng Central Sub-branch of the People's Bank of China, and Yang Lijuan, who works for Keshiketeng Banner Sub-branch of the People's Bank of China, jointly wrote an article suggesting improving the personal privacy protection system.</p><p>First, improve relevant legal provisions. Formulate a practical Personal Information Protection Law to clarify the scope of personal information.</p><p>Second, take effective actions. Enterprises should carry out Internet credit reporting activities in strict accordance with the management requirements of the Regulations on the Administration of Credit Information Industry, and at the same time further strengthen the ability of big data to collect and supervise the use of credit information, so as to provide strong support for the collection of credit information of big data. Under the guidance of relevant laws and regulations, strengthen the punishment of dishonesty of untrustworthy people. If there is any serious dishonesty, they should be investigated for corresponding legal responsibilities.</p><p>The third is to strengthen the supervision and management of credit information to ensure the safety of credit information. Relevant departments should take active and effective measures to establish Internet financial supervision and Internet credit information collection databases. Only by strengthening credit information security management and establishing multi-channel personal information protection mechanisms can we effectively prevent credit risks and provide a comprehensive guarantee for the data security of Internet credit information collection.</p>","source":"lsy1583384439392","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>The central bank requires personal information on online platforms to \"disconnect\" from financial institutions</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\">\nThe central bank requires personal information on online platforms to \"disconnect\" from financial institutions\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">《财经》</strong><span class=\"h-time small\">2021-07-08 19:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Text/Zhang Wei</p><p>Caijing reporters learned from multiple sources that the Credit Information Administration of the People's Bank of China recently issued a notice to online platform institutions, requiring online platforms to achieve a comprehensive \"direct disconnection\" between personal information and financial institutions.</p><p>This requirement is not a new instruction, but the proper meaning of the previous rectification requirements.</p><p>On April 29, 2021, the People's Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, the State Administration of Foreign Exchange and other financial management departments (hereinafter referred to as the financial management departments) jointly conducted regulatory interviews with 13 online platform companies engaged in financial business. The main reason for the interview is that these online platforms generally have serious violations such as engaging in financial business without a license or beyond the license scope, imperfect corporate governance mechanism, regulatory arbitrage, unfair competition, and damage to the legitimate rights and interests of consumers.</p><p>In view of the outstanding problems that are common in the financial business of online platform enterprises at present, the financial regulatory authorities have put forward seven major rectification requirements, one of which is to break the information monopoly and carry out personal credit reporting business strictly through licensed credit reporting agencies in accordance with laws and regulations.</p><p>According to this rectification requirement, the network platform directly provides the information voluntarily submitted by individuals, the information generated in the platform or the information obtained from the outside to financial institutions in the name of application information, identity information, basic information, personal portrait scoring information, etc. in the business cooperation with financial institutions, such as drainage, loan assistance and joint loan, and it is necessary to realize the comprehensive \"disconnection\" between personal information and financial institutions.</p><p>According to Caijing reporters, the above-mentioned institutions have completed preliminary rectification plans before June 30, 2021. The reason why the Credit Information Administration of the Central Bank issued a notice again to stop the direct connection between personal information on online platforms and financial institutions is that some of the above-mentioned institutions still directly provide personal information to financial institutions in their rectification plans.</p><p>An expert in the field of monopoly topics told Caijing that the online platform combines personal data with financial products, and the development of domestic mutual funds is such a simple logic. Under the current mode, all apps are doing personal credit reporting business, which is strictly non-compliant. \"Of course, this also has a certain relationship with the lag of China's credit reporting industry, which gives Internet companies room for arbitrage. In addition, it is also related to the lag of China's small, medium and micro enterprises and personal financial business itself.\"</p><p>A senior analyst in the financial industry told Caijing that the products of these platforms have a common feature, that is, they are based on payment, collect data through payment business, and then superimpose the promotion of higher-level financial products on the basis of payment. Everyone can see its benefits. It is the foundation of modern business, can promote digital transformation, and even drive the development of the real industry. However, there are also some problems, such as the problem of leverage ratio and the problem of user data collection, which in turn leads to the \"two-choice\" competition, etc., it has gradually formed a monopoly ecology. This is harmful to the protection of users' rights and interests, and even to the whole economic development.</p><p>Experts in the above-mentioned monopoly topic field said that if the policy is implemented in place, the way for all kinds of mobile apps to realize data value through financial services will be greatly narrowed, or basically blocked.</p><p>A senior researcher told the Caijing reporter that from the perspective of maintaining the large market mechanism, strengthening anti-monopoly is intended to maintain the normal operation of the market mechanism, which is the top level. The regulatory authorities emphasize financial compliance operations, licensed operations, serving entities, inclusive services, and financial consumers, effectively protecting consumers' rights and interests, and protecting information security. These all belong to the broad category of behavioral supervision, which reflects the continuous improvement of behavioral supervision as a \"double pillar\", which is also consistent with international experience. Enterprises must adapt to this regulatory climate.</p><p>At the same time, the construction of China's Internet financial credit information system is crucial. Recently, Zhu Peiqing, who works for Chifeng Central Sub-branch of the People's Bank of China, and Yang Lijuan, who works for Keshiketeng Banner Sub-branch of the People's Bank of China, jointly wrote an article suggesting improving the personal privacy protection system.</p><p>First, improve relevant legal provisions. Formulate a practical Personal Information Protection Law to clarify the scope of personal information.</p><p>Second, take effective actions. Enterprises should carry out Internet credit reporting activities in strict accordance with the management requirements of the Regulations on the Administration of Credit Information Industry, and at the same time further strengthen the ability of big data to collect and supervise the use of credit information, so as to provide strong support for the collection of credit information of big data. Under the guidance of relevant laws and regulations, strengthen the punishment of dishonesty of untrustworthy people. If there is any serious dishonesty, they should be investigated for corresponding legal responsibilities.</p><p>The third is to strengthen the supervision and management of credit information to ensure the safety of credit information. Relevant departments should take active and effective measures to establish Internet financial supervision and Internet credit information collection databases. Only by strengthening credit information security management and establishing multi-channel personal information protection mechanisms can we effectively prevent credit risks and provide a comprehensive guarantee for the data security of Internet credit information collection.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/cebxAK_g6AAo_Q2xvclvpA\">《财经》</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5a36a344ea9cacb03addddd87ef31cbe","relate_stocks":{"000001.SH":"上证指数"},"source_url":"https://mp.weixin.qq.com/s/cebxAK_g6AAo_Q2xvclvpA","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188969765","content_text":"文／张威\n《财经》记者从多方信源获悉，人民银行征信管理局于近日给网络平台机构下发通知，要求网络平台实现个人信息与金融机构的全面“断直连”。\n这一要求并非新的指令，而是前期整改要求中的应有之义。\n2021年4月29日，人民银行、银保监会、证监会、外汇局等金融管理部门（以下简称金融管理部门）联合对13家从事金融业务的网络平台企业进行监管约谈。约谈主要的原因在于，这些网络平台普遍存在无牌或超许可范围从事金融业务、公司治理机制不健全、监管套利、不公平竞争、损害消费者合法权益等严重违规问题。\n针对当前网络平台企业从事金融业务中普遍存在的突出问题，金融监管部门提出了七大整改要求，其中一项便是打破信息垄断，严格通过持牌征信机构依法合规开展个人征信业务。\n按照这项整改要求，网络平台在与金融机构开展引流、助贷、联合贷等业务合作中，将个人主动提交的信息、平台内产生的信息或从外部获取的信息以申请信息、身份信息、基础信息、个人画像评分信息等名义直接向金融机构提供，须实现个人信息与金融机构的全面“断直连”。\n据《财经》记者了解，上述各机构已于2021年6月30日前完成初步整改方案。央行征信管理局之所以再次发布通知，叫停网络平台个人信息与金融机构的直连行为，源于上述一些机构的整改方案中依然存在直接为金融机构提供个人信息的情况。\n一位垄断话题领域的专家向《财经》记者表示，网络平台将个人数据与金融产品结合，国内互金发展就是这么简单的逻辑。现在的模式下等于所有的APP都在做个人征信业务，严格说其实是不合规的。“当然，这与中国征信业滞后也有一定的关系，使得互联网企业有了套利空间，此外，与中国中小微企业和个人金融业务本身滞后也有关。”\n一位金融行业资深分析师向《财经》记者表示，这些平台的产品有一个共同特点，就是以支付为基础，通过支付业务去收集数据，然后再在支付的基础上去叠加更高层次的金融产品的推广。它的好处大家都能看到，它是现代商业的基础，能够促进数字化转型，甚至带动实体行业发展，但其中也存在一些问题，比如杠杆率的问题，用户数据采集的问题，进而产生“二选一”竞争等，它慢慢形成了一种垄断生态。这样对用户权益保护，甚至整个经济发展都存在危害。\n上述垄断话题领域的专家表示，如果政策执行到位，对各类手机APP将数据价值通过金融业务变现的路子大大收窄，或者说基本堵上了。\n一位资深研究者向《财经》记者表示，从大的市场机制维护方面，强化反垄断意在维护市场机制的正常运转，这是最顶层的。监管部门强调金融合规经营，持牌经营，服务实体、服务普惠、服务金融消费者，切实保障消费者权益、保护信息安全等。这些都属于广义的行为监管范畴，体现了行为监管作为“双支柱”地位的持续提升，这也与国际经验相符，企业要适应这一监管气候。\n与此同时，中国互联网金融征信体系建设工作至关重要。近日，供职于中国人民银行赤峰市中心支行的朱沛庆，与供职于中国人民银行克什克腾旗支行的杨丽娟联名撰文建议健全个人隐私权益保护制度。\n第一，完善相关法律条款。制定切实可行的《个人信息保护法》，明确个人信息的范畴。\n第二，采取切实有效的行动。企业应严格按照《征信业管理条例》的管理要求，开展互联网征信活动，同时进一步加强大数据的信用信息收集和使用监督能力，为大数据的信用信息收集提供有力支持。并在相关法律法规的指导下，加强失信人失信惩处力度，如有严重失信行为，应追究其相应的法律责任。\n三是加强信用信息的监督管理，确保信用信息的安全。有关部门应当采取积极有效的措施，着力建立互联网金融监管和互联网信用信息收集数据库，通过加强信用信息安全管理，建立多条渠道的个人信息保护机制，才能在有效防止信用风险发生的同时，提供互联网信用信息收集数据安全的全面保障。","news_type":1,"symbols_score_info":{"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":2438,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143015124,"gmtCreate":1625752437668,"gmtModify":1703747845670,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087693924266930","idStr":"4087693924266930"},"themes":[],"htmlText":"wa","listText":"wa","text":"wa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/143015124","repostId":"2149347182","repostType":4,"repost":{"id":"2149347182","kind":"news","pubTimestamp":1625747700,"share":"https://ttm.financial/m/news/2149347182?lang=en_US&edition=fundamental","pubTime":"2021-07-08 20:35","market":"hk","language":"zh","title":"Tencent's market value has fallen by two Wuliangye in half a year, and Pony Ma is about to be surpassed?","url":"https://stock-news.laohu8.com/highlight/detail?id=2149347182","media":"中国证券报","summary":"“碳中和”背景下，全球供给格局正在重塑。","content":"<p><div>Baidu Group fell 4.62%, Alibaba fell 4.13%, and Tencent Holdings, the \"eternal god\" of the Hong Kong stock market, fell 3.74%... On July 8, Hong Kong technology stocks staged a tragic scene, and the technology sector represented by BAT experienced a rare and comprehensive plunge. The Hang Seng Technology Index once fell more than 3.7%. In the past six months, Hong Kong technology stocks have continued to fall. Among them, Tencent Holdings, the number one heavyweight in Hong Kong stocks, has fluctuated all the way down since hitting a record high on February 18 this year, and now its total market value has dropped by 2.4 trillion Hong Kong dollars (about 2 trillion yuan) from the previous high, which is equivalent to the market value of two Wuliangye....</p><p><a href=\"https://finance.sina.com.cn/stock/marketresearch/2021-07-08/doc-ikqcfnca5731883.shtml\">Web link</a></div></p>","source":"sina","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>Tencent's market value has fallen by two Wuliangye in half a year, and Pony Ma is about to be surpassed?</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\">\nTencent's market value has fallen by two Wuliangye in half a year, and Pony Ma is about to be surpassed?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">中国证券报</strong><span class=\"h-time small\">2021-07-08 20:35</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div>Baidu Group fell 4.62%, Alibaba fell 4.13%, and Tencent Holdings, the \"eternal god\" of the Hong Kong stock market, fell 3.74%... On July 8, Hong Kong technology stocks staged a tragic scene, and the technology sector represented by BAT experienced a rare and comprehensive plunge. The Hang Seng Technology Index once fell more than 3.7%. In the past six months, Hong Kong technology stocks have continued to fall. Among them, Tencent Holdings, the number one heavyweight in Hong Kong stocks, has fluctuated all the way down since hitting a record high on February 18 this year, and now its total market value has dropped by 2.4 trillion Hong Kong dollars (about 2 trillion yuan) from the previous high, which is equivalent to the market value of two Wuliangye....</p><p><a href=\"https://finance.sina.com.cn/stock/marketresearch/2021-07-08/doc-ikqcfnca5731883.shtml\">Web link</a></div></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.sina.com.cn/stock/marketresearch/2021-07-08/doc-ikqcfnca5731883.shtml\">中国证券报</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e7799eeb7043b8caaf3d109c3b13109e","relate_stocks":{"00700":"腾讯控股"},"source_url":"https://finance.sina.com.cn/stock/marketresearch/2021-07-08/doc-ikqcfnca5731883.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","article_id":"2149347182","content_text":"百度集团跌4.62%，阿里巴巴跌4.13%，港股市场“永远的神”腾讯控股跌3.74%……\n7月8日，港股科技股上演惨烈一幕，以BAT为代表的科技板块出现罕见全面大跌，恒生科技指数一度跌超3.7%。\n近半年，港股科技股持续杀跌。其中，作为港股第一权重股的腾讯控股，自今年2月18日创下历史新高后一路震荡下行，如今总市值已经较前期高点跌去2.4万亿港元（约合人民币2万亿元），相当于两个五粮液的市值。\n市值半年内蒸发2万亿元\n7月8日，腾讯控股低开低走，盘中一度跌逾4.5%。至收盘，腾讯控股跌幅有所收窄，但仍下跌3.74%，报每股528港元，创今年以来的收盘价新低。\n来源：老虎证券\n近年来腾讯股价一路高歌猛进。今年2月18日，腾讯股价站上775.5港元/股的高位，创下历史新高。但此后，腾讯控股股价开始一路走低，今日收盘市值缩水至5.07万亿港元。近半年，腾讯控股市值已经较前期高点蒸发近2.4万亿港元（约合2万亿元人民币）。\n7月8日收盘，A股五粮液市值约为1万亿元，贵州茅台约为2.5万亿元。据此计算，腾讯近半年减少的市值，约相当于2个五粮液，0.8个茅台。\n腾讯今日的大跌，在一众港股科技股中并不是个例。7月8日，港股科技股集体杀跌。恒生科技指数一度暴跌3.7%，创去年10月以来新低。\n其他个股方面，哔哩哔哩跌超6%，美团跌近6%，百度跌近5%。阿里巴巴跌超4%，破200港元关口。Wind数据显示，7月8日，南向资金净卖出59.46亿港元。\n机构仍乐观看待\n尽管股价已经连续下跌5个月，但一众机构仍对其后市表示乐观。\n5月下旬以来，30余家券商机构都给予了腾讯推荐、买入、优于大市等正面评级，给予的目标价从673至860港元不等。机构普遍认为，相对于当前的股价，腾讯控股未来上涨预期较大。\n\n来源：Wind\n今年5月20日，腾讯控股发布的2021年第一季度业绩报告显示，公司实现营收1353.03亿元，同比增长25%；净利润为478亿元，同比增长65%。业绩表现超出市场预期。\n消息面上，7月8日，在国务院政策例行吹风会上，中国人民银行副行长范一飞表示，支付产业发展速度很快，近年来保持50%以上的增长率。同时，针对发展中出现的垄断、资本无序扩张等行为，人民银行也在陆续开展工作。下一步，会继续促进支付市场更好更快发展，同时针对支付市场出现的不规范行为，持续予以规范。前段时间，对蚂蚁集团进行了约谈，也披露了相关信息。\n“垄断现象其实不仅仅存在于蚂蚁集团一家，其他机构也有这样的情况。对蚂蚁集团采取的措施，我们也会推行到其他的支付服务市场主体。我相信，大家不久就会看到这个情况。”范一飞说。\n7月7日，市场监管总局对互联网领域22起违法实施经营者集中案开罚单。这些案件中，涉及滴滴旗下全资子公司违法实施经营者集中案8起，阿里巴巴6起，腾讯5起，苏宁2起，美团1起。\n马化腾身家即将被超越？\n港股互联网巨头集体杀跌同时，A股新能源电池龙头宁德时代这边风景独好，股价继续高歌猛进。\n7月8日，宁德时代早盘高开高走，盘中最高涨逾5%，股价最高报571.5元/股，创出历史新高。截至收盘，宁德时代涨幅收窄至3.07%，总市值突破1.3万亿大关。\n7月8日收盘A股市值排行\n\n来源：Wind\n随着宁德时代市值的不断飙涨，公司创始人曾毓群的身家水涨船高。7月8日晚间的福布斯实时富豪榜显示，曾毓群的身家已经达到496亿美元，全球排名已经从昨日的27位升至第25位。\n而受公司股价近日大跌影响，腾讯创始人马化腾的个人财富缩水至520亿美元，位列全球富豪榜第23位。曾毓群与马化腾的身家仅剩24亿美元的差距，比阿里巴巴创始人马云457亿美元的身家多了39亿美元。\n\n来源：福布斯实时富豪榜","news_type":1,"symbols_score_info":{"00700":0.9}},"isVote":1,"tweetType":1,"viewCount":960,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":157927987,"gmtCreate":1625560928649,"gmtModify":1703743756244,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087693924266930","idStr":"4087693924266930"},"themes":[],"htmlText":"omg","listText":"omg","text":"omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/157927987","repostId":"2149590433","repostType":2,"repost":{"id":"2149590433","kind":"news","pubTimestamp":1625560020,"share":"https://ttm.financial/m/news/2149590433?lang=en_US&edition=fundamental","pubTime":"2021-07-06 16:27","market":"fut","language":"zh","title":"Chinese concept stocks generally fell before the market: Didi's decline expanded to 30%! Will the US stock S&P 500 index set a new record today?","url":"https://stock-news.laohu8.com/highlight/detail?id=2149590433","media":"FX168","summary":"FX168财经报社(香港)讯 周二(7月6日)，滴滴美股盘前跌幅扩大至30%。此前，国家网信办要求应用商店下架“滴滴出行”App，并认真整改存在的问题。Uber盘前跌超2%，Uber为滴滴的第二大股东。\n　　此外，满帮盘前跌近...","content":"<p><html><body><div><div>FX168 Financial News (Hong Kong) News Tuesday (July 6),<a href=\"https://laohu8.com/S/DIDI\">Didi</a>The pre-market decline of U.S. stocks expanded to 30%. Previously, the National Network Information Office required the App store to remove the \"Didi Chuxing\" App and seriously rectify the existing problems. Uber fell more than 2% before the market, and Uber is Didi's second largest shareholder.</p><p><img height=\"576\" oldsrc=\"W020210706591999481766.png\" src=\"https://www.fx168.com/usstock/2107/W020210706591999481766.png\" width=\"600\"/></p><p>Furthermore,<a href=\"https://laohu8.com/S/YMM\">Manbang</a>It fell nearly 16% before the market,<a href=\"https://laohu8.com/S/BZ\">BOSS Direct Recruitment</a>It fell more than 7% before the market, after the National Cyberspace Administration of China launched a network security review of \"Yunmanman\", \"Truck Gang\" and \"BOSS Zhipin\".</p><p><strong>Chinese concept stocks fell across the board before the market:<a href=\"https://laohu8.com/S/ZH\">Zhihu</a>Down 6.64%,<a href=\"https://laohu8.com/S/TIGR\">Tiger Securities</a>Down 3.83%,<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>Down 3.27%,<a href=\"https://laohu8.com/S/HUYA\">Tiger Tooth</a>、<a href=\"https://laohu8.com/S/DOYU\">Betta fish</a>Down about 3%,<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>、<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Fell more than 2%. Douyu's pre-market decline in U.S. stocks expanded to more than 10%.</strong></p><p>On Monday, due to the Independence Day holiday, the U.S. stock market was closed. business insider wrote that after hitting record highs for seven consecutive days, the U.S. stock market will continue to rise, but investor optimism is still suppressed.</p><p>The S&P 500 closed at its seventh consecutive all-time high on Friday, just a stone's throw away from breaking its record of eight consecutive new highs.</p><p>But investors don't seem to care, as various sentiment indicators show no signs of optimism in the stock market. This dynamic sets the stage for further gains in the stock market ahead, as there is plenty of room for investors to get excited about the stock market before reaching levels of greed and fanaticism.</p><p>\"It's a little boring. But you can't sell when the market is bad.\"<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>Summarized the market's steady gains over the past week in a note on Friday.</p><p>Investor sentiment tends to follow price changes, finding \"greed\" or \"excitement\" near the market peak and \"fear\" near the market sell-off bottom. This dynamic is precisely why these metrics are seen as contrarian investments, as it is often beneficial to take the opposite view of sentiment data.</p><p>At a time when stocks are at record highs, there are no optimistic signs that there is further upside as the market continues to climb the wall of concern and win over unbelieving investors.</p><p>Sentiment indicators that show no signs of excitement or greed among investors include CNN's Fear and Greed Index, Bank of America's Bull/Bear Indicator, and the AAII Investor Sentiment Survey.</p><p>CNN's Fear and Greed Index remains below 50 and has been in the \"neutral\" territory for the past month. The index closed at 46 points last Friday, just slightly higher than last week's \"fear\" index of 44 points.</p><p>The index had an \"extreme greed\" reading of 99 in January 2020, just before the fastest bear market in history, and reached an \"extreme fear\" reading of 1 near the pandemic bottom in March 2020, giving it credibility as a contrarian indicator.</p><p><span lang=\"EN-US\"><img height=\"319\" oldsrc=\"W020210706591999645741.png\" src=\"https://www.fx168.com/usstock/2107/W020210706591999645741.png\" width=\"600\"/></span></p><p>Meanwhile, Bank of America's bull/bear index has continued to fall in recent weeks, falling to 6.4 from a February cycle high of 7.7. Once the indicator breaks through 8, a reverse \"sell\" reading occurs, indicating that there is still plenty of room for investors to be bullish on the stock market.</p><p><span lang=\"EN-US\"><img height=\"608\" oldsrc=\"W020210706591999807607.png\" src=\"https://www.fx168.com/usstock/2107/W020210706591999807607.png\" width=\"600\"/></span></p><p>Finally, the optimism index of the AAII Investor Sentiment Survey rose to 48.6% this week. While the survey shows a rise in bullish sentiment, well above the historical average of 38%, it is still below the April high of 52.7%, suggesting there is still room for bullish sentiment to rise.</p><p><span lang=\"EN-US\"><img height=\"215\" oldsrc=\"W020210706591999979433.png\" src=\"https://www.fx168.com/usstock/2107/W020210706591999979433.png\" width=\"600\"/></span></p><p>On the stock market front, however, investors have little to worry about. Rising inflation, rising interest rates and possible tax hikes are threats to markets this year, and uncertainty over second-quarter results may also weigh on investors.</p><p>But historically, when the stock market reaches all-time highs, investors are so pessimistic about the market that it is usually a firm contrarian indicator to buy stocks.</p><p></div><div><div><ul><li>US Stock Market</li><li>China</li><li>S&P 500</li></ul></div><div><div><div>share</div><div><div></div></div></div><div></div></div></div></div></body></html></p>","source":"fxdaily_fut","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>Chinese concept stocks generally fell before the market: Didi's decline expanded to 30%! Will the US stock S&P 500 index set a new record today?</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\">\nChinese concept stocks generally fell before the market: Didi's decline expanded to 30%! Will the US stock S&P 500 index set a new record today?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">FX168</strong><span class=\"h-time small\">2021-07-06 16:27</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><body><div><div>FX168 Financial News (Hong Kong) News Tuesday (July 6),<a href=\"https://laohu8.com/S/DIDI\">Didi</a>The pre-market decline of U.S. stocks expanded to 30%. Previously, the National Network Information Office required the App store to remove the \"Didi Chuxing\" App and seriously rectify the existing problems. Uber fell more than 2% before the market, and Uber is Didi's second largest shareholder.</p><p><img height=\"576\" oldsrc=\"W020210706591999481766.png\" src=\"https://www.fx168.com/usstock/2107/W020210706591999481766.png\" width=\"600\"/></p><p>Furthermore,<a href=\"https://laohu8.com/S/YMM\">Manbang</a>It fell nearly 16% before the market,<a href=\"https://laohu8.com/S/BZ\">BOSS Direct Recruitment</a>It fell more than 7% before the market, after the National Cyberspace Administration of China launched a network security review of \"Yunmanman\", \"Truck Gang\" and \"BOSS Zhipin\".</p><p><strong>Chinese concept stocks fell across the board before the market:<a href=\"https://laohu8.com/S/ZH\">Zhihu</a>Down 6.64%,<a href=\"https://laohu8.com/S/TIGR\">Tiger Securities</a>Down 3.83%,<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>Down 3.27%,<a href=\"https://laohu8.com/S/HUYA\">Tiger Tooth</a>、<a href=\"https://laohu8.com/S/DOYU\">Betta fish</a>Down about 3%,<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>、<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Fell more than 2%. Douyu's pre-market decline in U.S. stocks expanded to more than 10%.</strong></p><p>On Monday, due to the Independence Day holiday, the U.S. stock market was closed. business insider wrote that after hitting record highs for seven consecutive days, the U.S. stock market will continue to rise, but investor optimism is still suppressed.</p><p>The S&P 500 closed at its seventh consecutive all-time high on Friday, just a stone's throw away from breaking its record of eight consecutive new highs.</p><p>But investors don't seem to care, as various sentiment indicators show no signs of optimism in the stock market. This dynamic sets the stage for further gains in the stock market ahead, as there is plenty of room for investors to get excited about the stock market before reaching levels of greed and fanaticism.</p><p>\"It's a little boring. But you can't sell when the market is bad.\"<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>Summarized the market's steady gains over the past week in a note on Friday.</p><p>Investor sentiment tends to follow price changes, finding \"greed\" or \"excitement\" near the market peak and \"fear\" near the market sell-off bottom. This dynamic is precisely why these metrics are seen as contrarian investments, as it is often beneficial to take the opposite view of sentiment data.</p><p>At a time when stocks are at record highs, there are no optimistic signs that there is further upside as the market continues to climb the wall of concern and win over unbelieving investors.</p><p>Sentiment indicators that show no signs of excitement or greed among investors include CNN's Fear and Greed Index, Bank of America's Bull/Bear Indicator, and the AAII Investor Sentiment Survey.</p><p>CNN's Fear and Greed Index remains below 50 and has been in the \"neutral\" territory for the past month. The index closed at 46 points last Friday, just slightly higher than last week's \"fear\" index of 44 points.</p><p>The index had an \"extreme greed\" reading of 99 in January 2020, just before the fastest bear market in history, and reached an \"extreme fear\" reading of 1 near the pandemic bottom in March 2020, giving it credibility as a contrarian indicator.</p><p><span lang=\"EN-US\"><img height=\"319\" oldsrc=\"W020210706591999645741.png\" src=\"https://www.fx168.com/usstock/2107/W020210706591999645741.png\" width=\"600\"/></span></p><p>Meanwhile, Bank of America's bull/bear index has continued to fall in recent weeks, falling to 6.4 from a February cycle high of 7.7. Once the indicator breaks through 8, a reverse \"sell\" reading occurs, indicating that there is still plenty of room for investors to be bullish on the stock market.</p><p><span lang=\"EN-US\"><img height=\"608\" oldsrc=\"W020210706591999807607.png\" src=\"https://www.fx168.com/usstock/2107/W020210706591999807607.png\" width=\"600\"/></span></p><p>Finally, the optimism index of the AAII Investor Sentiment Survey rose to 48.6% this week. While the survey shows a rise in bullish sentiment, well above the historical average of 38%, it is still below the April high of 52.7%, suggesting there is still room for bullish sentiment to rise.</p><p><span lang=\"EN-US\"><img height=\"215\" oldsrc=\"W020210706591999979433.png\" src=\"https://www.fx168.com/usstock/2107/W020210706591999979433.png\" width=\"600\"/></span></p><p>On the stock market front, however, investors have little to worry about. Rising inflation, rising interest rates and possible tax hikes are threats to markets this year, and uncertainty over second-quarter results may also weigh on investors.</p><p>But historically, when the stock market reaches all-time highs, investors are so pessimistic about the market that it is usually a firm contrarian indicator to buy stocks.</p><p></div><div><div><ul><li>US Stock Market</li><li>China</li><li>S&P 500</li></ul></div><div><div><div>share</div><div><div></div></div></div><div></div></div></div></div></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.fx168.com/usstock/2107/5173217.shtml\">FX168</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://www.fx168.com/usstock/2107/W020210706592006787620.jpg","relate_stocks":{"161125":"标普500","513500":"标普500ETF","OEF":"标普100指数ETF-iShares","SDS":"两倍做空标普500 ETF-ProShares","OEX":"标普100","DIDI":"滴滴(已退市)","UPRO":"三倍做多标普500ETF-ProShares","QNETCN":"纳斯达克中美互联网老虎指数","SH":"做空标普500-Proshares","SPXU":"三倍做空标普500ETF-ProShares",".SPX":"S&P 500 Index","SPY":"标普500ETF","IVV":"标普500ETF-iShares","SSO":"2倍做多标普500ETF-ProShares","TTTN":"老虎中美互联网巨头ETF"},"source_url":"https://www.fx168.com/usstock/2107/5173217.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2149590433","content_text":"FX168财经报社(香港)讯 周二(7月6日)，滴滴美股盘前跌幅扩大至30%。此前，国家网信办要求应用商店下架“滴滴出行”App，并认真整改存在的问题。Uber盘前跌超2%，Uber为滴滴的第二大股东。此外，满帮盘前跌近16%，BOSS直聘盘前跌逾7%，此前国家网信办对“运满满”“货车帮”“BOSS直聘”启动网络安全审查。中概股盘前全线下跌：知乎跌6.64%，老虎证券跌3.83%，哔哩哔哩跌3.27%，虎牙、斗鱼跌约3%，百度、理想汽车跌超2%。斗鱼美股盘前跌幅扩大至逾10%。周一由于独立日假期，美股休市，business insider撰文指出，在连续7天创历史新高后，美国股市还将继续上涨，但是投资者的乐观情绪仍受到抑制。标普500指数上周五连续第七次收于历史高位，距离打破连续八次收于新高的纪录仅咫尺之遥。但投资者似乎并不在意，因为各种情绪指标都没有显示出股市出现乐观迹象。这种动态为股市未来的进一步上涨奠定了基础，因为在达到贪婪和狂热的水平之前，投资者还有足够的空间对股市感到兴奋。“有点无聊。但你不能在市场不景气的时候卖。”美国银行在周五的一份报告中总结了过去一周市场的稳步上涨。投资者情绪往往跟随价格变化，在接近市场峰值的地方发现了“贪婪”或“兴奋”，在接近市场抛售底部的地方发现了“恐惧”。这种动态正是这些指标被视为反向投资的原因，因为与人气数据持相反观点往往是有好处的。在股市处于创纪录高位之际，没有任何乐观迹象表明，随着市场继续攀上担忧之墙，并赢得不相信的投资者，股市还有进一步上行空间。在投资者中没有显示出兴奋或贪婪的迹象的情绪指标包括CNN的恐惧和贪婪指数，美国银行的牛市/熊市指标，以及AAII投资者情绪调查。CNN的恐惧和贪婪指数仍然低于50，在过去的一个月里一直处于“中性”区域。该指数上周五收于46点，仅略高于上周的“恐惧”指数44点。该指数在2020年1月的“极度贪婪”读数为99，正好在历史上最快的熊市之前，并在2020年3月的大流行谷底附近达到了“极度恐惧”读数1，这为其作为反向指标提供了可信度。与此同时，美国银行的牛市/熊市指数最近几周持续下跌，从2月份的周期高点7.7降至6.4。一旦该指标突破8点，就会出现反向“卖出”读数，表明投资者仍有足够的空间看涨股市。最后，本周美国个人投资者信心调查(AAII Investor Sentiment Survey)的乐观指数升至48.6%。虽然调查显示，看涨情绪有所上升，远高于38%的历史平均水平，但仍低于4月份52.7%的高点，表明看涨情绪仍有上升空间。然而，在股市方面，投资者并没有什么可担心的。通胀上升、利率上升和可能的增税是今年市场面临的威胁，第二季度业绩的不确定性也可能令投资者承压。但从历史上看，当股市达到历史高点时，投资者对市场的态度如此悲观，通常是一个坚定的反向指标来购买股票。\n\n\n\n\n\n                                                    美国股市\n                                                \n\n\n\n                                                    中国\n                                                \n\n\n\n                                                    标普500\n                                                \n\n\n\n\n\n分享","news_type":1,"symbols_score_info":{"161125":0.6,"513500":0.6,"ESmain":1,".SPX":0.6,"UPRO":0.6,"SPXU":0.6,"SPY":1,"OEF":0.6,"QNETCN":1,"SSO":0.6,"IVV":0.6,"DIDI":1,"SH":0.6,"OEX":0.6,"SDS":0.6,"TTTN":1}},"isVote":1,"tweetType":1,"viewCount":665,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":157922303,"gmtCreate":1625560821602,"gmtModify":1703743752929,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087693924266930","idStr":"4087693924266930"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/157922303","repostId":"1136888008","repostType":4,"isVote":1,"tweetType":1,"viewCount":723,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155224906,"gmtCreate":1625441603205,"gmtModify":1703741618201,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087693924266930","idStr":"4087693924266930"},"themes":[],"htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/155224906","repostId":"2148874200","repostType":4,"isVote":1,"tweetType":1,"viewCount":644,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":815768374,"gmtCreate":1630720662198,"gmtModify":1676530383925,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087693924266930","authorIdStr":"4087693924266930"},"themes":[],"htmlText":"woo","listText":"woo","text":"woo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/815768374","repostId":"2164805574","repostType":2,"repost":{"id":"2164805574","kind":"news","pubTimestamp":1630713600,"share":"https://ttm.financial/m/news/2164805574?lang=en_US&edition=fundamental","pubTime":"2021-09-04 08:00","market":"hk","language":"zh","title":"BMW reveals Apple's CarPlay system fully integrated in the i4's instrument cluster","url":"https://stock-news.laohu8.com/highlight/detail?id=2164805574","media":"新浪科技综合","summary":"最近的宣传材料显示，宝马即将推出的旗舰电动车“i4”具有迄今为止最完整的苹果CarPlay体验之一。i4有两个弧形显示屏和一个平视显示器。所有三个显示屏都可以同时显示来自苹果CarPlay的信息。宝马i4安装了iDrive 8车载系统，它支持无线苹果CarPlay，抬头显示器中的苹果地图转弯提示，以及支持仪表盘中显示地图和方向。BMW iDrive 8具有完全整合苹果CarPlay和Android Auto的功能。宝马i4今年晚些时候在欧洲上市，2022年夏天在美国上市。","content":"<p><html><body>This article is from cnBeta</p><p>Recent promotional material has revealed BMW's upcoming flagship EV 'i4' has its most complete yet<a href=\"https://laohu8.com/S/AAPL\">Apple</a>One of the CarPlay experiences. BMW described the i4's Apple CarPlay experience as \"more seamless\". The i4 has two curved displays and a head-up display. All three displays can display information from Apple CarPlay simultaneously.</p><p><figure><img h=\"450\" src=\"http://n.sinaimg.cn/spider20210904/450/w800h450/20210904/0ce8-cc2d2303e62eae09a51ce055d8346b84.jpg\" w=\"800\"/><h2></h2></figure>The BMW i4 is equipped with the iDrive 8 in-vehicle system, which supports wireless Apple CarPlay, Apple Map turning tips in the head-up display, and supports the display of maps and directions in the dashboard.</p><p>The new generation of BMW iDrive 8 has increased flexibility, making it simpler and more convenient to use third-party apps in the car in the future. The BMW iDrive 8 features full integration of Apple CarPlay and Android Auto. The large screen that controls the display displays all available applications clearly in the menus of the system. The user's favorite applications can be launched quickly and conveniently through the main menu or toolbar. The greater integration of app functionality into the information display and even the BMW head-up display also makes for a seamless transition from the whole screen grouping.</p><p><div sax-type=\"proxy\"></div>Music streaming and communication apps are now integrated into the BMW iDrive 8. They are displayed as the original source in the main menu, enabling customers to take full advantage of the functionality of their app.</p><p>Many vehicles that have recently used Apple CarPlay already show limited turning direction information from Apple Maps on the driver's display, but BMW's full integration of Apple Maps into the dashboard is the first implementation of its kind. Starting with iOS 13, CarPlay already supports cornering tips and Apple Maps, but BMW was one of the first companies to make Apple Maps fully functional on the second-display dashboard.</p><p>BMW has been an early adopter of Apple's car-related software features in recent years, such as Digital Key and Ultra-Broadband Digital Key +, although it only started offering CarPlay in 2016 and has been criticized for charging an annual usage fee of $80.</p><p>The BMW i4 goes on sale in Europe later this year and in the US in the summer of 2022.</p><p><div><img src=\"http://n.sinaimg.cn/default/2fb77759/20151125/320X320.png\"/></div></body></html></p>","source":"sina_tech","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>BMW reveals Apple's CarPlay system fully integrated in the i4's instrument cluster</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\">\nBMW reveals Apple's CarPlay system fully integrated in the i4's instrument cluster\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪科技综合</strong><span class=\"h-time small\">2021-09-04 08:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><body>This article is from cnBeta</p><p>Recent promotional material has revealed BMW's upcoming flagship EV 'i4' has its most complete yet<a href=\"https://laohu8.com/S/AAPL\">Apple</a>One of the CarPlay experiences. BMW described the i4's Apple CarPlay experience as \"more seamless\". The i4 has two curved displays and a head-up display. All three displays can display information from Apple CarPlay simultaneously.</p><p><figure><img h=\"450\" src=\"http://n.sinaimg.cn/spider20210904/450/w800h450/20210904/0ce8-cc2d2303e62eae09a51ce055d8346b84.jpg\" w=\"800\"/><h2></h2></figure>The BMW i4 is equipped with the iDrive 8 in-vehicle system, which supports wireless Apple CarPlay, Apple Map turning tips in the head-up display, and supports the display of maps and directions in the dashboard.</p><p>The new generation of BMW iDrive 8 has increased flexibility, making it simpler and more convenient to use third-party apps in the car in the future. The BMW iDrive 8 features full integration of Apple CarPlay and Android Auto. The large screen that controls the display displays all available applications clearly in the menus of the system. The user's favorite applications can be launched quickly and conveniently through the main menu or toolbar. The greater integration of app functionality into the information display and even the BMW head-up display also makes for a seamless transition from the whole screen grouping.</p><p><div sax-type=\"proxy\"></div>Music streaming and communication apps are now integrated into the BMW iDrive 8. They are displayed as the original source in the main menu, enabling customers to take full advantage of the functionality of their app.</p><p>Many vehicles that have recently used Apple CarPlay already show limited turning direction information from Apple Maps on the driver's display, but BMW's full integration of Apple Maps into the dashboard is the first implementation of its kind. Starting with iOS 13, CarPlay already supports cornering tips and Apple Maps, but BMW was one of the first companies to make Apple Maps fully functional on the second-display dashboard.</p><p>BMW has been an early adopter of Apple's car-related software features in recent years, such as Digital Key and Ultra-Broadband Digital Key +, although it only started offering CarPlay in 2016 and has been criticized for charging an annual usage fee of $80.</p><p>The BMW i4 goes on sale in Europe later this year and in the US in the summer of 2022.</p><p><div><img src=\"http://n.sinaimg.cn/default/2fb77759/20151125/320X320.png\"/></div></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://tech.sina.cn/mobile/xp/2021-09-04/detail-iktzscyx2174817.d.html?vt=4\">新浪科技综合</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://k.sinaimg.cn/n/tech/transform/667/w400h267/20210904/219e-b10b42122d792e6addc11289839aa0ee.jpg/w120h90l50t13d0.jpg","relate_stocks":{"AAPL":"苹果"},"source_url":"https://tech.sina.cn/mobile/xp/2021-09-04/detail-iktzscyx2174817.d.html?vt=4","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164805574","content_text":"本文来自cnBeta\n最近的宣传材料显示，宝马即将推出的旗舰电动车“i4”具有迄今为止最完整的苹果CarPlay体验之一。宝马将i4的苹果CarPlay体验描述为“更加无缝”。i4有两个弧形显示屏和一个平视显示器。所有三个显示屏都可以同时显示来自苹果CarPlay的信息。\n\n\n\n\n宝马i4安装了iDrive 8车载系统，它支持无线苹果CarPlay，抬头显示器中的苹果地图转弯提示，以及支持仪表盘中显示地图和方向。\n新一代BMW iDrive 8具有更高的灵活性，使得未来在车内使用第三方应用程序变得更加简单和方便。BMW iDrive 8具有完全整合苹果CarPlay和Android Auto的功能。控制显示屏的大屏幕在系统的菜单中清晰地显示所有可用的应用程序。用户最喜欢的应用程序可以通过主菜单或工具栏快速而方便地启动。将应用程序功能更多地整合到信息显示屏甚至BMW平视显示器中，也使整个屏幕分组实现了无缝过渡。\n音乐流媒体和通信应用程序现在被整合到BMW iDrive 8中。它们在主菜单中被显示为原始来源，使客户能够充分利用其应用程序的功能。\n许多最近使用苹果CarPlay的车辆已经在驾驶员显示屏上显示了来自苹果地图的有限的转弯方向信息，但宝马将苹果地图完全整合到仪表盘中，是同类产品的首次实施。从iOS 13开始，CarPlay已经支持转弯提示和苹果地图，但宝马是首批在第二显示屏仪表盘上实现苹果地图全功能的公司之一。\n近年来，宝马一直是苹果汽车相关软件功能的早期采用者，如数字钥匙和超宽频数字钥匙+，尽管它在2016年才开始提供CarPlay，并因每年收取80美元的使用费而受到批评。\n宝马i4今年晚些时候在欧洲上市，2022年夏天在美国上市。","news_type":1,"symbols_score_info":{"AAPL":1}},"isVote":1,"tweetType":1,"viewCount":3213,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143082461,"gmtCreate":1625752697453,"gmtModify":1703747859060,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087693924266930","authorIdStr":"4087693924266930"},"themes":[],"htmlText":"woo","listText":"woo","text":"woo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/143082461","repostId":"1165245102","repostType":4,"isVote":1,"tweetType":1,"viewCount":3152,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809277398,"gmtCreate":1627375610314,"gmtModify":1703488681525,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087693924266930","authorIdStr":"4087693924266930"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/809277398","repostId":"1190808833","repostType":4,"repost":{"id":"1190808833","kind":"news","weMediaInfo":{"introduction":"致力于提供最及时的财经资讯，最专业的解读分析，覆盖宏观经济、金融机构、A股市场、上市公司、投资理财等财经领域。","home_visible":1,"media_name":"券商中国","id":"9","head_image":"https://static.tigerbbs.com/d482d56459984e8c86a6a137295b3c4f"},"pubTimestamp":1627374492,"share":"https://ttm.financial/m/news/1190808833?lang=en_US&edition=fundamental","pubTime":"2021-07-27 16:28","market":"sh","language":"zh","title":"A major emergency! China's stocks, bonds and foreign exchanges were suddenly attacked by air, and a rumor turned out to be the main reason for the decline?","url":"https://stock-news.laohu8.com/highlight/detail?id=1190808833","media":"券商中国","summary":"市场跌得太惨了！\n\n继周一暴跌之后，周二市场再遭暴击。除科创板指数较强之外，其余指数全线杀跌，上证指数收盘失守3400点，前期热门板块全线回调。从盘面上看，香港市场是引发市场暴跌的主要原因。恒生科技股","content":"<p>The market has fallen so badly! Following Monday's plunge, the market suffered another crit on Tuesday. Except for the strong science and technology innovation board index, the rest of the indexes fell across the board. The Shanghai Composite Index closed below 3,400 points, and the popular sectors in the early stage pulled back across the board. From the disk point of view, the Hong Kong market is the main reason for the market plunge. The Hang Seng Technology Stock Index once plummeted by more than 9%, and the State Enterprise Index and the Hang Seng Index both fell sharply. So, what caused the plunge, and who was shorting the market?</p><p><b>Many Hong Kong fund managers said that foreign capital has been selling Chinese assets one after another recently. There are three main reasons for this: First, the previous allocation of consumption positions is relatively high, but the current market valuation system has changed; Second, institutions' concerns about the policy of double reduction of education and training have not weakened, and have fermented; Third, the United States said that Chinese companies listed in the United States must disclose potential policy risks, otherwise they may violate the law. The market is worried that the United States will launch a formal investigation into the information disclosure of Chinese companies.</b></p><p>This afternoon, the market even reported that the United States may restrict the investment of American funds in China, and American funds are rapidly realizing their assets. However, this rumor has not been confirmed.</p><p>Judging from today's market, in fact, chip stocks once performed very strongly. However, in the end, there was a systematic dive in the market, and white horse stocks were smashed across the board. So, when will the market stabilize? Will such a continuous decline lead to systemic risks?</p><p><b>Chinese assets hit by air strikes</b></p><p>Today's market can be described as terrible. What is more lethal than Monday is the afternoon dive, which is tantamount to saying that all the funds for bargain hunting in the morning are buried. The Shanghai Composite Index closed down 2.49% and fell below 3,400 points, and the ChiNext Index fell more than 4%;<a href=\"https://laohu8.com/S/300750\">Ningde era</a>Heavy volume fell by more than 8.3%. The heavy volume turnover of the two cities exceeded 1.5 trillion yuan, a new high for the year.</p><p><img src=\"https://static.tigerbbs.com/03f456a1ae6d03db439e5723d1515a30\" tg-width=\"684\" tg-height=\"302\" referrerpolicy=\"no-referrer\"></p><p>In early trading today, the market was acceptable. Led by stocks such as chips and non-ferrous metals, the market rebounded rapidly. Semiconductor chip stocks bucked the market and strengthened, leading<a href=\"https://laohu8.com/S/SMI\">SMIC</a>It once hit the 20% daily limit, photoresist, gallium nitride, etc. were all red, and the Science and Technology Innovation 50 Index once rose 4%, and it also followed the market in the afternoon. As of the close, the previous strong stocks of lithium battery and photovoltaic were buried across the board, while liquor and big finance continued to plummet. Individual stocks showed a general decline pattern, with more than 3,000 stocks in the two cities turning green, with a turnover of 1.5 trillion.</p><p>The RMB also changed. After the A-share market closed, the offshore RMB plunged more than 200 points against the US dollar, falling below the 6.51 mark, a new low since April.</p><p><img src=\"https://static.tigerbbs.com/e099e3b8b35bbcc715dc1612a5943a3b\" tg-width=\"977\" tg-height=\"322\" referrerpolicy=\"no-referrer\"></p><p>The Hong Kong market is even worse. The Hang Seng Index fell more than 5% and fell below 25,000 points, and the Hang Seng Technology Index once fell 9.9%.<a href=\"https://laohu8.com/S/00700\">Tencent Holdings</a>It once fell by more than 10%, the largest single-day drop in more than 10 years;<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>It fell more than 8% and fell below the issue price of HK $176.</p><p><img src=\"https://static.tigerbbs.com/f5db902bf3ee1e5ace590fa646e5d897\" tg-width=\"647\" tg-height=\"283\" referrerpolicy=\"no-referrer\"></p><p>The A50 also continued to plummet. After the A-share market closed, A50 continued to fall, with a range of up to 6%.</p><p><img src=\"https://static.tigerbbs.com/a02bfb18e79f97ac8cd864e4946a6790\" tg-width=\"729\" tg-height=\"327\" referrerpolicy=\"no-referrer\"></p><p>The bond market also suffered heavy losses.</p><p><img src=\"https://static.tigerbbs.com/8831170b4a93ebc06f5cd3b602aaf9f5\" tg-width=\"620\" tg-height=\"423\" referrerpolicy=\"no-referrer\"></p><p>So, what exactly happened? In the afternoon, a rumor will suddenly spread from the periphery. The United States may restrict the investment of American funds in China, and some American funds are already selling Hong Kong stock assets on a large scale. However, this news has not been officially confirmed. Some Hong Kong fund managers said that it was true that American funds sold Hong Kong stock assets, but they did not see any news restricting American funds' investment in China.</p><p>In addition, there is news that several foreign investors have liquidated their positions and are selling Chinese assets with their eyes closed. These holdings include Chinese concept stocks, Hong Kong stocks and A shares.</p><p><b>Can Chinese assets hold up?</b></p><p>The short-selling power in today's market may mainly come from two aspects: First, foreign capital. Wind data shows that northbound funds sold a net of 4.172 billion yuan throughout the day, and the cumulative net sales in the past three trading days exceeded 21 billion yuan; The second is leveraged funds. The sell-off of many stocks is obviously too leveraged. Judging from the current market sentiment, there is indeed some panic. But in the past, panic often means opportunity.</p><p><b>First of all, from a fundamental perspective,</b>China's economic fundamentals are still the best and most stable in the world. Moreover, after experiencing a comprehensive RRR cut, the monetary level is also loose. Today, the market plummeted, and A shares saw a trading volume of 1.5 trillion yuan. The market is not short of money.</p><p><b>Secondly, from the perspective of market valuation,</b>After a wave of adjustments, the overall valuation of the A-share market is obviously lower than the peripheral level. Wang Chunying, deputy director and spokesperson of the State Administration of Foreign Exchange, said at the press conference of the State Council Information Office that at present, the P/E of Chinese stocks are low compared with developed markets and most emerging economies, so the investment value is still relatively high. Bonds also have relatively good investment returns. For example, the yield of ten-year Treasury Bond is stable at around 3%, which is significantly higher than the bonds of countries with zero or even negative interest rates.</p><p><b>Third, from the perspective of market structure,</b>Currently at the beginning of a new technological cycle. This new technology cycle is a cycle of \"carbon neutrality as the center and new energy and new energy vehicles as the main direction\". Judging from the past pattern, when a new technology cycle started, the market had a relatively solid bullish foundation, just like the mobile internet cycle a few years ago, the commodity cycle after 2005, and the Internet cycle beyond.</p><p><a href=\"https://laohu8.com/S/002500\">Shanxi Securities</a>It is believed that combined with consensus expectations, the relative position of the overall market P/E and expected ROE is similar to that of last year's epidemic, and the valuation and point are at a reasonable position. Investors do not need to panic, and some themes have been killed by mistake. In the medium term, the technology industry continues to maintain a high growth rate, and the overall fundamentals of A shares are strongly supported.</p><p>Wanhe Securities said that the current strong regulatory policy is expected to have a short-term fluctuation impact on market sentiment, but in the medium and long term, profit promotion is still the main logic. In this context, mid-cap growth stocks have a high probability of mid-term reports. Expectations will have a more direct impact on the market.</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>A major emergency! China's stocks, bonds and foreign exchanges were suddenly attacked by air, and a rumor turned out to be the main reason for the decline?</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\">\nA major emergency! China's stocks, bonds and foreign exchanges were suddenly attacked by air, and a rumor turned out to be the main reason for the decline?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/9\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d482d56459984e8c86a6a137295b3c4f);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">券商中国 </p>\n<p class=\"h-time smaller\">2021-07-27 16:28</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The market has fallen so badly! Following Monday's plunge, the market suffered another crit on Tuesday. Except for the strong science and technology innovation board index, the rest of the indexes fell across the board. The Shanghai Composite Index closed below 3,400 points, and the popular sectors in the early stage pulled back across the board. From the disk point of view, the Hong Kong market is the main reason for the market plunge. The Hang Seng Technology Stock Index once plummeted by more than 9%, and the State Enterprise Index and the Hang Seng Index both fell sharply. So, what caused the plunge, and who was shorting the market?</p><p><b>Many Hong Kong fund managers said that foreign capital has been selling Chinese assets one after another recently. There are three main reasons for this: First, the previous allocation of consumption positions is relatively high, but the current market valuation system has changed; Second, institutions' concerns about the policy of double reduction of education and training have not weakened, and have fermented; Third, the United States said that Chinese companies listed in the United States must disclose potential policy risks, otherwise they may violate the law. The market is worried that the United States will launch a formal investigation into the information disclosure of Chinese companies.</b></p><p>This afternoon, the market even reported that the United States may restrict the investment of American funds in China, and American funds are rapidly realizing their assets. However, this rumor has not been confirmed.</p><p>Judging from today's market, in fact, chip stocks once performed very strongly. However, in the end, there was a systematic dive in the market, and white horse stocks were smashed across the board. So, when will the market stabilize? Will such a continuous decline lead to systemic risks?</p><p><b>Chinese assets hit by air strikes</b></p><p>Today's market can be described as terrible. What is more lethal than Monday is the afternoon dive, which is tantamount to saying that all the funds for bargain hunting in the morning are buried. The Shanghai Composite Index closed down 2.49% and fell below 3,400 points, and the ChiNext Index fell more than 4%;<a href=\"https://laohu8.com/S/300750\">Ningde era</a>Heavy volume fell by more than 8.3%. The heavy volume turnover of the two cities exceeded 1.5 trillion yuan, a new high for the year.</p><p><img src=\"https://static.tigerbbs.com/03f456a1ae6d03db439e5723d1515a30\" tg-width=\"684\" tg-height=\"302\" referrerpolicy=\"no-referrer\"></p><p>In early trading today, the market was acceptable. Led by stocks such as chips and non-ferrous metals, the market rebounded rapidly. Semiconductor chip stocks bucked the market and strengthened, leading<a href=\"https://laohu8.com/S/SMI\">SMIC</a>It once hit the 20% daily limit, photoresist, gallium nitride, etc. were all red, and the Science and Technology Innovation 50 Index once rose 4%, and it also followed the market in the afternoon. As of the close, the previous strong stocks of lithium battery and photovoltaic were buried across the board, while liquor and big finance continued to plummet. Individual stocks showed a general decline pattern, with more than 3,000 stocks in the two cities turning green, with a turnover of 1.5 trillion.</p><p>The RMB also changed. After the A-share market closed, the offshore RMB plunged more than 200 points against the US dollar, falling below the 6.51 mark, a new low since April.</p><p><img src=\"https://static.tigerbbs.com/e099e3b8b35bbcc715dc1612a5943a3b\" tg-width=\"977\" tg-height=\"322\" referrerpolicy=\"no-referrer\"></p><p>The Hong Kong market is even worse. The Hang Seng Index fell more than 5% and fell below 25,000 points, and the Hang Seng Technology Index once fell 9.9%.<a href=\"https://laohu8.com/S/00700\">Tencent Holdings</a>It once fell by more than 10%, the largest single-day drop in more than 10 years;<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>It fell more than 8% and fell below the issue price of HK $176.</p><p><img src=\"https://static.tigerbbs.com/f5db902bf3ee1e5ace590fa646e5d897\" tg-width=\"647\" tg-height=\"283\" referrerpolicy=\"no-referrer\"></p><p>The A50 also continued to plummet. After the A-share market closed, A50 continued to fall, with a range of up to 6%.</p><p><img src=\"https://static.tigerbbs.com/a02bfb18e79f97ac8cd864e4946a6790\" tg-width=\"729\" tg-height=\"327\" referrerpolicy=\"no-referrer\"></p><p>The bond market also suffered heavy losses.</p><p><img src=\"https://static.tigerbbs.com/8831170b4a93ebc06f5cd3b602aaf9f5\" tg-width=\"620\" tg-height=\"423\" referrerpolicy=\"no-referrer\"></p><p>So, what exactly happened? In the afternoon, a rumor will suddenly spread from the periphery. The United States may restrict the investment of American funds in China, and some American funds are already selling Hong Kong stock assets on a large scale. However, this news has not been officially confirmed. Some Hong Kong fund managers said that it was true that American funds sold Hong Kong stock assets, but they did not see any news restricting American funds' investment in China.</p><p>In addition, there is news that several foreign investors have liquidated their positions and are selling Chinese assets with their eyes closed. These holdings include Chinese concept stocks, Hong Kong stocks and A shares.</p><p><b>Can Chinese assets hold up?</b></p><p>The short-selling power in today's market may mainly come from two aspects: First, foreign capital. Wind data shows that northbound funds sold a net of 4.172 billion yuan throughout the day, and the cumulative net sales in the past three trading days exceeded 21 billion yuan; The second is leveraged funds. The sell-off of many stocks is obviously too leveraged. Judging from the current market sentiment, there is indeed some panic. But in the past, panic often means opportunity.</p><p><b>First of all, from a fundamental perspective,</b>China's economic fundamentals are still the best and most stable in the world. Moreover, after experiencing a comprehensive RRR cut, the monetary level is also loose. Today, the market plummeted, and A shares saw a trading volume of 1.5 trillion yuan. The market is not short of money.</p><p><b>Secondly, from the perspective of market valuation,</b>After a wave of adjustments, the overall valuation of the A-share market is obviously lower than the peripheral level. Wang Chunying, deputy director and spokesperson of the State Administration of Foreign Exchange, said at the press conference of the State Council Information Office that at present, the P/E of Chinese stocks are low compared with developed markets and most emerging economies, so the investment value is still relatively high. Bonds also have relatively good investment returns. For example, the yield of ten-year Treasury Bond is stable at around 3%, which is significantly higher than the bonds of countries with zero or even negative interest rates.</p><p><b>Third, from the perspective of market structure,</b>Currently at the beginning of a new technological cycle. This new technology cycle is a cycle of \"carbon neutrality as the center and new energy and new energy vehicles as the main direction\". Judging from the past pattern, when a new technology cycle started, the market had a relatively solid bullish foundation, just like the mobile internet cycle a few years ago, the commodity cycle after 2005, and the Internet cycle beyond.</p><p><a href=\"https://laohu8.com/S/002500\">Shanxi Securities</a>It is believed that combined with consensus expectations, the relative position of the overall market P/E and expected ROE is similar to that of last year's epidemic, and the valuation and point are at a reasonable position. Investors do not need to panic, and some themes have been killed by mistake. In the medium term, the technology industry continues to maintain a high growth rate, and the overall fundamentals of A shares are strongly supported.</p><p>Wanhe Securities said that the current strong regulatory policy is expected to have a short-term fluctuation impact on market sentiment, but in the medium and long term, profit promotion is still the main logic. In this context, mid-cap growth stocks have a high probability of mid-term reports. Expectations will have a more direct impact on the market.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/43a80d3c243281d07a84f22c9d68a498","relate_stocks":{"HSI":"恒生指数","HSTECH":"恒生科技指数","000001.SH":"上证指数"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190808833","content_text":"市场跌得太惨了！\n\n继周一暴跌之后，周二市场再遭暴击。除科创板指数较强之外，其余指数全线杀跌，上证指数收盘失守3400点，前期热门板块全线回调。从盘面上看，香港市场是引发市场暴跌的主要原因。恒生科技股指数一度狂跌超9%，国企指数、恒生指数皆跌幅巨大。那么，究竟是何原因导致了暴跌，是谁在做空市场？\n有不少香港基金经理表示，最近外资在陆续卖出中国资产。其原因主要有三条：一是前面配置消费的仓位较高，但目前市场的估值体系发生了变化；二是机构对于教培双减政策的担心并未减弱，而且有所发酵；三是美国方面表示，在美上市的中国公司必须披露潜在的政策风险，否则可能违反法律。市场担心，美国会就中国公司信息披露问题展开正式调查。\n今天午后，市场更是传出，美国可能会限制美国基金在中国的投资，美国基金正快速变现资产。不过，这一传闻未获得证实。\n从今天的盘面来看，其实芯片股一度表现非常强势。然而，最后也跟随大盘出现系统性跳水，白马股更是全线被砸。那么，市场何时才能企稳？如此连续杀跌是否会引发系统性风险？\n中国资产惨遭空袭\n今天的市场，可谓惨不忍睹。比周一杀伤力更大的是午后的跳水，这等于是说把上午抄底的资金全都埋进去了。上证指数收跌2.49%失守3400点，创业板指跌超4%；宁德时代放量大跌超8.3%。两市放量成交超1.5万亿元，创年内新高。\n\n今日早盘，市场尚可。市场在芯片、有色等股票的带领之下，快速反弹。半导体芯片股逆市走强，龙头中芯国际一度触及20%涨停，光刻胶、氮化镓等全线飘红，科创50指数一度大涨4%，午后同样跟随大盘跳水。截至收盘，前面强势股锂电、光伏全线被埋，白酒、大金融继续暴跌。个股呈现普跌格局，两市超3000股飘绿，成交达1.5万亿。\n人民币亦出现异动，在A股收盘之后，离岸人民币兑美元兑美元跳水逾200点，跌破6.51关口，创4月以来新低。\n\n香港市场更是惨不忍睹。恒指跌超5%失守25000点，恒生科技指数一度跌9.9%。腾讯控股一度跌超10%，势创逾10年最大单日跌幅；阿里巴巴跌超8%，跌破176港元的发行价。\n\nA50也继续大跌。在A股收盘之后，A50持续杀跌，幅度高达6%。\n\n债市也遭重挫。\n\n那么，究竟发生了什么？午后有一则传闻会突然从外围传出。美国可能会限制美国基金在中国的投资，有美国基金已经在大举抛售港股资产。不过，这则消息并没有官方证实。有香港基金经理表示，美国基金抛售港股资产此事属实，但并未看到限制美国基金在中国投资的消息。\n此外，还有消息传出，有几个外资爆仓，正闭眼抛售中国资产。这些持仓包括中概股、港股和A股。\n中国资产能否撑住？\n今天市场的做空力量可能主要来自两个方面：一是外资，Wind数据显示，北向资金全天净卖出41.72亿元，近三个交易日累计净卖出超210亿元；二是杠杆资金，很多股票的杀跌明显太有杠杆的性质。从目前的市场情绪来看，的确有一些恐慌。但从以往的情况来看，恐慌往往意味着机会。\n首先，从基本面来看，中国的经济基本面依然是全球最好，最稳健的。而且，在经历了全面降准之后，货币层面也偏于宽松。今天市场大跌，A股更是出现了1.5万亿的成交量。市场并不缺钱。\n其次，从市场的估值来看，在经历一波调整之后，A股市场的整体估值明显要低于外围水平。国家外汇局副局长、新闻发言人王春英此前在国新办发布会上表示，目前，中国股票的市盈率与发达市场以及大多数新兴经济体相比，都是偏低的，所以投资价值还是比较高的。债券也有比较好的投资回报，比如十年期国债收益率稳定在3%左右，显著高于实施零利率甚至负利率国家的债券。\n第三，从市场结构来看，目前处于一个新技术周期的起点。而这个新技术周期是“以碳中和为中心，以新能源和新能源汽车为主打方向”的周期。从以往的格局来看，在一个新的技术周期启动时，市场有较为坚实的走牛基础，一如数年之前的移动互联周期，2005年之后的大宗商品周期，以及再往前的互联网周期。\n山西证券认为，结合一致预期来看，市场整体市盈率和预期ROE相对位置和去年疫情时相似，估值和点位处于合理位置，投资者不必恐慌，部分题材存在被错杀的情况。中期来看，科技行业持续维持高增速，A股整体基本面支撑较强。\n万和证券表示，当前强监管政策预期对市场情绪会带来短期波动影响，但从中长期来看，盈利推动依然是主要逻辑，在此背景下，中盘成长股中报预喜概率较高的预期则会对市场带来更直接的影响。","news_type":1,"symbols_score_info":{"000001.SH":0.9,"HSTECH":0.9,"HSI":0.9}},"isVote":1,"tweetType":1,"viewCount":2274,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172904201,"gmtCreate":1626925095903,"gmtModify":1703480705225,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087693924266930","authorIdStr":"4087693924266930"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/172904201","repostId":"1163816978","repostType":4,"repost":{"id":"1163816978","kind":"news","pubTimestamp":1626924703,"share":"https://ttm.financial/m/news/1163816978?lang=en_US&edition=fundamental","pubTime":"2021-07-22 11:31","market":"us","language":"zh","title":"Saudi Aramco Hacked, Demands $50 Million Ransom","url":"https://stock-news.laohu8.com/highlight/detail?id=1163816978","media":"新浪科技","summary":"据美联社报道，有1TB的公司数据被非法访问。","content":"<p>According to news on the morning of July 22, the information of Saudi Aramco was leaked after a hacking attack. According to the Associated Press, 1TB of company data was illegally accessed. Company statement shows: Saudi Aramco recently discovered that third-party contractors indirectly leaked company data. We confirm that the data breach was not due to the breach of our systems and has no impact on our operations, and the company continues to maintain a strong cybersecurity posture. The Associated Press further reported that the hackers demanded $50 million as payment for deleting the data and demanded that it be paid in cryptocurrency.</p>","source":"sina_tech","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>Saudi Aramco Hacked, Demands $50 Million Ransom</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\">\nSaudi Aramco Hacked, Demands $50 Million Ransom\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪科技</strong><span class=\"h-time small\">2021-07-22 11:31</span>\n</p>\n</h4>\n</header>\n<article>\n<p>According to news on the morning of July 22, the information of Saudi Aramco was leaked after a hacking attack. According to the Associated Press, 1TB of company data was illegally accessed. Company statement shows: Saudi Aramco recently discovered that third-party contractors indirectly leaked company data. We confirm that the data breach was not due to the breach of our systems and has no impact on our operations, and the company continues to maintain a strong cybersecurity posture. The Associated Press further reported that the hackers demanded $50 million as payment for deleting the data and demanded that it be paid in cryptocurrency.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.sina.com.cn/tech/2021-07-22/doc-ikqcfnca8329201.shtml\">新浪科技</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/7d584aca182a0c36adb16d579518f97f","relate_stocks":{"USO":"美国原油ETF"},"source_url":"https://finance.sina.com.cn/tech/2021-07-22/doc-ikqcfnca8329201.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163816978","content_text":"7月22日上午消息，沙特阿美石油公司在一次黑客袭击后信息被泄露。据美联社报道，有1TB的公司数据被非法访问。公司声明显示：沙特阿美最近发现，第三方承包商间接泄露了公司的数据。我们确认，数据的泄露不是由于我们的系统被攻破，对我们的运营没有影响，公司继续保持着强大的网络安全态势。美联社进一步报道称，黑客索要5000万美元作为删除数据的报酬，并要求以加密货币支付。","news_type":1,"symbols_score_info":{"USO":0.9}},"isVote":1,"tweetType":1,"viewCount":3080,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9042793594,"gmtCreate":1656522600318,"gmtModify":1676535845196,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087693924266930","authorIdStr":"4087693924266930"},"themes":[],"htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9042793594","repostId":"1176657955","repostType":4,"repost":{"id":"1176657955","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":1656487457,"share":"https://ttm.financial/m/news/1176657955?lang=en_US&edition=fundamental","pubTime":"2022-06-29 15:24","market":"us","language":"zh","title":"Reminder: Due to the U.S. Independence Day holiday, U.S. stocks will be closed on July 4","url":"https://stock-news.laohu8.com/highlight/detail?id=1176657955","media":"老虎资讯综合","summary":"请留意具体时间，提前安排好您的投资计划。","content":"<p><html><head></head><body>Dear investors,</p><p>Due to the anniversary of the establishment of the Hong Kong Special Administrative Region (and the anniversary of the return of Hong Kong<b>The Hong Kong stock market will be closed for one day on July 1 (Friday)</b>。 In addition, due to the Independence Day holiday,<b>The U.S. stock market will be closed for one day on July 4 (Monday)</b>。 Please pay attention to the specific time and arrange your investment plan in advance.</p><p><img src=\"https://static.tigerbbs.com/b85335b584c40ee97169a866b3eb10b6\" tg-width=\"1080\" tg-height=\"1080\" referrerpolicy=\"no-referrer\"/></p><p>I wish you smooth investment</p><p>Tiger Securities</p><p><b>Market closure arrangement</b></p><p><b>US stocks</b></p><p>The market will be closed on July 4th (Monday) and open as usual from July 5th (Tuesday).</p><p><b>Hong Kong Stocks</b></p><p>The market will be closed on July 1st (Friday) and open as usual from July 4th (Monday).</p><p><b>A Shares</b></p><p>Trade as usual.</p><p><b>Shanghai Stock Connect, Shenzhen Stock Connect</b></p><p>The service will not be available from June 30th (Thursday) to July 1st (Friday), and will be open as usual from July 4th (Monday).</p><p><b>Stock Connect</b></p><p>The service will not be provided on July 1st (Friday), but will be open as usual from July 4th (Monday).</p><p><b>Singapore stock market, Australian market</b></p><p>Trade as usual.</p><p><b>Background Introduction</b></p><p><b>Anniversary of the Establishment of Hong Kong Special Administrative Region</b></p><p>The anniversary of Hong Kong's return to the motherland is July 1st every year. On July 1, 1997, the Government of the Hong Kong Special Administrative Region of the People's Republic of China was established. Since then, this day has become the anniversary of Hong Kong's return.</p><p>2022 marks the 25th anniversary of Hong Kong's return to the motherland.</p><p><img src=\"https://static.tigerbbs.com/f228e2be416213ddd5f57b144bf15712\" tg-width=\"860\" tg-height=\"570\" referrerpolicy=\"no-referrer\"/></p><p><b>Independence Day</b></p><p>Independence Day (also known as Fourth of July or July Fourth) is one of the major legal holidays in the United States. It is dated on July 4th of each year to commemorate the formal adoption of the Declaration of Independence by the Continental Congress in Philadelphia on July 4, 1776.</p><p></body></html></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>Reminder: Due to the U.S. Independence Day holiday, U.S. stocks will be closed on July 4</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\">\nReminder: Due to the U.S. Independence Day holiday, U.S. stocks will be closed on July 4\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\">2022-06-29 15:24</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Dear investors,</p><p>Due to the anniversary of the establishment of the Hong Kong Special Administrative Region (and the anniversary of the return of Hong Kong<b>The Hong Kong stock market will be closed for one day on July 1 (Friday)</b>。 In addition, due to the Independence Day holiday,<b>The U.S. stock market will be closed for one day on July 4 (Monday)</b>。 Please pay attention to the specific time and arrange your investment plan in advance.</p><p><img src=\"https://static.tigerbbs.com/b85335b584c40ee97169a866b3eb10b6\" tg-width=\"1080\" tg-height=\"1080\" referrerpolicy=\"no-referrer\"/></p><p>I wish you smooth investment</p><p>Tiger Securities</p><p><b>Market closure arrangement</b></p><p><b>US stocks</b></p><p>The market will be closed on July 4th (Monday) and open as usual from July 5th (Tuesday).</p><p><b>Hong Kong Stocks</b></p><p>The market will be closed on July 1st (Friday) and open as usual from July 4th (Monday).</p><p><b>A Shares</b></p><p>Trade as usual.</p><p><b>Shanghai Stock Connect, Shenzhen Stock Connect</b></p><p>The service will not be available from June 30th (Thursday) to July 1st (Friday), and will be open as usual from July 4th (Monday).</p><p><b>Stock Connect</b></p><p>The service will not be provided on July 1st (Friday), but will be open as usual from July 4th (Monday).</p><p><b>Singapore stock market, Australian market</b></p><p>Trade as usual.</p><p><b>Background Introduction</b></p><p><b>Anniversary of the Establishment of Hong Kong Special Administrative Region</b></p><p>The anniversary of Hong Kong's return to the motherland is July 1st every year. On July 1, 1997, the Government of the Hong Kong Special Administrative Region of the People's Republic of China was established. Since then, this day has become the anniversary of Hong Kong's return.</p><p>2022 marks the 25th anniversary of Hong Kong's return to the motherland.</p><p><img src=\"https://static.tigerbbs.com/f228e2be416213ddd5f57b144bf15712\" tg-width=\"860\" tg-height=\"570\" referrerpolicy=\"no-referrer\"/></p><p><b>Independence Day</b></p><p>Independence Day (also known as Fourth of July or July Fourth) is one of the major legal holidays in the United States. It is dated on July 4th of each year to commemorate the formal adoption of the Declaration of Independence by the Continental Congress in Philadelphia on July 4, 1776.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3877d7f890a3e97cbb441a2ccfdf29da","relate_stocks":{".DJI":"道琼斯","HSI":"恒生指数"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176657955","content_text":"尊敬的投资者：因香港特别行政区成立纪念日（暨香港回归纪念日），港股市场于7月1日（周五）休市一天。此外，因美国独立日假期，美股市场将于7月4日（周一）休市一天。请留意具体时间，提前安排好您的投资计划。预祝投资顺利老虎证券休市安排美股7月4日（周一）休市，7月5日（周二）起照常开市。港股7月1日（周五）休市，7月4日（周一）起照常开市。A股照常交易。沪股通、深股通6月30日（周四）至7月1日（周五）不提供服务，7月4日（星期一）起照常开通。港股通7月1日（周五）不提供服务，7月4日（周一）起照常开通。新加坡股市、澳大利亚市场照常交易。背景介绍香港特别行政区成立纪念日暨香港回归纪念日，为每年的7月1日。1997年7月1日，中华人民共和国香港特别行政区政府成立。从此，这一天成为香港回归纪念日。2022年是香港回归祖国25周年。美国独立日独立日（Independence Day，又称Fourth of July或July Fourth）是美国的主要法定节日之一，日期为每年7月4日，以纪念1776年7月4日大陆会议在费城正式通过《独立宣言》。","news_type":1,"symbols_score_info":{".DJI":0.9,"HSI":0.9}},"isVote":1,"tweetType":1,"viewCount":1827,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808340489,"gmtCreate":1627560624041,"gmtModify":1703492369610,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087693924266930","authorIdStr":"4087693924266930"},"themes":[],"htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/808340489","repostId":"1136422208","repostType":4,"repost":{"id":"1136422208","kind":"news","weMediaInfo":{"introduction":"新三板第一媒体，由资深金融人和资深媒体人创办。","home_visible":1,"media_name":"读懂财经","id":"1060193092","head_image":"https://static.tigerbbs.com/0151ecd107de45069beb5d8f191d7326"},"pubTimestamp":1627559544,"share":"https://ttm.financial/m/news/1136422208?lang=en_US&edition=fundamental","pubTime":"2021-07-29 19:52","market":"us","language":"zh","title":"IPO in Hong Kong: Li Auto's \"Battle of Crossing the River\"","url":"https://stock-news.laohu8.com/highlight/detail?id=1136422208","media":"读懂财经","summary":"去年这个时间，理想汽车和小鹏汽车先后在美股上市，资本市场“新能源汽车”的风潮也愈刮愈烈。\n受概念炒作影响，造车新势力股价持续暴涨，但除去浮华之后，“御三家”的业绩却并不尽如人意。持续亏损犹如一块巨石，","content":"<p>This time last year,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>And<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>It has been listed on the U.S. stock market successively, and the trend of \"new energy vehicles\" in the capital market has become increasingly fierce.</p><p>Affected by the concept hype, the stock prices of new car-making forces continued to skyrocket, but after removing the glitz, the performance of \"Yusanjia\" was not satisfactory. Continuous losses are like a huge boulder, weighing heavily on investors' hearts.</p><p>However, in the context of rising sales and continuous expansion of scale, the market still gives new car-making forces a high valuation. The reason is that this market is large enough.</p><p>According to the CIC Report, from 2017 to 2020, China<a href=\"https://laohu8.com/S/600617\">National New Energy</a>Car sales soared from 600,000 to 1.2 million, with a compound annual growth rate of 26%, accounting for 5.8% of total passenger car sales in 2020. Looking to the future, from 2020 to 2025, the scale of new energy vehicles in China is expected to grow at a compound growth rate of 35.8%, much higher than the 4% growth rate of fuel vehicles.</p><p>According to the plan of the Ministry of Industry and Information Technology, by 2025, domestic sales of new energy vehicles will account for 20% of total vehicle sales. Policy support is the biggest benefit of this industry, which means that the next five years will be the biggest outlet for new energy vehicles.</p><p>The track is good enough, but it is not easy to get to the finish line. BYTON is a typical example. In its heyday, it invested 11 billion yuan to build a modern production base covering an area of 1,200 mu, but a financial crisis soon broke out. At the worst of last year, this one was almost as<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>There are only 41 workers left in a factory as big as a Chinese factory.</p><p>\"Building a car\" is a very expensive project, which not only tests the company's financial strength, but also requires them to be able to continue to raise funds. If they are a little careless, the money burned before will be wasted. This is why XPeng, ideals,<a href=\"https://laohu8.com/S/NIO\">Nio</a>The reason why the U.S. stock market has been listed, and there are tens of billions of funds lying on the account at the end of 2020, and it still chooses to go to Hong Kong for a second IPO.</p><p>The Hong Kong stock market highly recognizes new energy vehicles. XPeng Automobile, which was the first to go public for the second time, has not only been recognized by investment banks, but also received a huge investment from Alibaba, holding nearly 15% of its shares.</p><p>At a time when Sino-US relations are quite delicate, IPO in Hong Kong has become a \"battle across the river\" for new car-making forces. Only by winning this time can we have a chance to run into the future.</p><p>Following XPeng, Li Auto announced on July 26 that it had passed the hearing of the Hong Kong Stock Exchange. After the \"Battle of Crossing the River\" started, can the most impure ideal of \"electric vehicles\" stand out from the tight encirclement?</p><p><b>/01 /</b></p><p><b>The least expensive \"new car-making force\"</b></p><p>Compared with XPeng and NIO (NYSE: NIO), Ideal is definitely the best new car-making force, because Li Xiang has always hoped to make Li Auto the next Toyota.</p><p>In 2015,<a href=\"https://laohu8.com/S/ATHM\">Car Home</a>Still maintaining a high growth rate, Li Xiang decided to leave this project that he hatched. At that time, a friend once advised Li Xiang to \"mix\" for another two years. He said, \"We should build another Toyota in our lifetime. If I can't get the money, I'll pay 100 million dollars myself first.\"</p><p>As we all know, Toyota's success is inseparable from \"lean production\", which greatly improves Toyota's efficiency and effectively controls the company's costs. Therefore, Ideal has that frugality in its bones, and this is fully reflected in its financial report.</p><p>For employees, Li Xiang is not an \"ideal\" boss. Li Xiang once revealed to the media that the company's administration requires employees to buy the economy class with the lowest discount when traveling on business, and economy hotels have to live together with two same-sex people. In the end, these regulations effectively reduced the ideal expenses. In the past three years, the company's marketing and management expenses totaled 2.656 billion yuan, less than half of XPeng's and less than one-fifth of Nio's.</p><p><img src=\"https://static.tigerbbs.com/5936731439079e4626a71d9fb7398bc6\" tg-width=\"589\" tg-height=\"257\" referrerpolicy=\"no-referrer\"></p><p>In terms of research and development expenses, Ideal is also the least \"burning money\". From 2018 to Q1 of 2021, Ideal's total R&D expenditure reached 3.577 billion yuan. This figure is even less than the money Nio spent on R&D in 2018, and is only equivalent to 66% of XPeng's total in three years.</p><p><img src=\"https://static.tigerbbs.com/acb21455c81cb5cea08b8c16f377b6e9\" tg-width=\"589\" tg-height=\"252\" referrerpolicy=\"no-referrer\"></p><p>Saving in all aspects makes Ideal a \"new car-making force\" with the least loss. From 2018 to Q1 of 2021, Ideal's total net loss was 4.483 billion yuan. During the same period, XPeng and Nio lost 8.61 billion yuan and 26.69 billion yuan respectively.</p><p><img src=\"https://static.tigerbbs.com/13bd57ce9bc05a71759d6d06d673d065\" tg-width=\"589\" tg-height=\"248\" referrerpolicy=\"no-referrer\"></p><p>Objectively speaking, when everyone is stuck in the quagmire of losses, it is a great thing that Ideal can effectively control costs. Including its \"extended-range hybrid\" product strategy, it is more like a balanced choice that comprehensively considers factors such as cost, technology, product experience, and usage scenarios. This will bring the company closer to profitability, and it will give shareholders more peace of mind.</p><p>However, this ability to \"save money\" can only prove that Ideal is a company that is good at making products, but it is still far from the final success.</p><p><b>/02 /</b></p><p><b>How to realize the \"ideal\"?</b></p><p>The gameplay of new energy vehicles has never changed: cars are only carriers, and ecology is the key.</p><p>Tesla is the most successful new energy vehicle in the world. review's development can be found that if Tesla wants to succeed, it must take two major paths: achieving economies of scale and realizing ecology.</p><p>All businesses in the world that sell ecology are inseparable from one word: scale. According to Metcalfe's Law, when an ecosystem gathers more users, the greater the value it generates, and this value will increase exponentially with the number of users.</p><p>Of course, automobiles are originally the most typical industry with economies of scale. For new energy vehicle companies, what they do is not just pure hardware sales, but build a huge new energy vehicle ecosystem and make money through ecological effects. The first step in ecological construction is volume, and car delivery has become a key indicator.</p><p>Different from the many models of traditional car companies, Li Auto only has ONE model, Ideal ONE (including the 2021 model).</p><p>Since its launch, Li Auto has delivered a total of 63,700 vehicles, and the sales volume in a single quarter has increased from less than 1,000 units to 17,575 units. Li Xiang's next goal is to sell over 10,000 units in September this year. In terms of sales volume, Ideal ONE is the best-selling new energy SUV model in China in 2020, with a market share of approximately 9.7%. However, there is only one car, and as the cycle extends, its product competitiveness will gradually decline.</p><p><img src=\"https://static.tigerbbs.com/5554c48c321ff255ab9ab2df94200b70\" tg-width=\"589\" tg-height=\"339\" referrerpolicy=\"no-referrer\"></p><p>Theoretically, as the scale of users increases, the value of the ideal new energy vehicle ecosystem continues to increase, and then revenue is generated through value-added services. This converts the one-time consumption of ordinary cars into sustainable continuous income. As long as users are still using ideal services, they will continue to contribute income to them.</p><p>On the other hand, if the business model of new energy vehicles wants to run successfully, it still needs to be ecological, which is ultimately reflected in the financial report that the gross profit margin continues to increase.</p><p>The biggest difference between new energy vehicles and ordinary vehicles is that new energy vehicles themselves need data support and will also create massive amounts of data. Hardware serves as a traffic entrance, and software is a means of profit. This has become a common gameplay for almost all new energy car companies.</p><p>Since the gross profit margin of vehicle sales is very low and the gross profit margin of service business is relatively high, this means that the higher the proportion of service business, the higher the gross profit margin of the company.</p><p>How to increase gross profit margin? This requires car companies to deepen technology research and development. At present, Ideal has independently developed a complete set of software systems.</p><p>Half of the ideal R&D investment goes to autonomous driving. At present, Ideal ONE belongs to the L2 level, but the company stated that it already has L4 level reserves and plans to apply it to products launched after 2022. However, real L4 and L5 level autonomous driving is not a purely technical issue. Real commercialization requires infrastructure construction such as road networks and regulations, which requires a long process.</p><p>Back to the ideal, the ideal state is that when more cars are sold, there will be more users of the software; When the software experience gets better and better, users will spread word of mouth to promote automobile marketing, thus achieving a positive feedback loop.</p><p>Therefore, automobile scale and software quality are the keys to enhancing the core value of the ideal ecology. This is also the \"ideal\" in the hearts of all players.</p><p><b>/03 /</b></p><p><b>The most impure \"electric car\"</b></p><p>While looking up at the sky, you should also look down at the road.</p><p>At present, although Ideal is the new car-making force closest to profitability, it is also the most impure \"electric vehicle\", which is what many investors have always questioned.</p><p>Since the birth of new energy vehicles, there has been a problem of insufficient battery life. In response to this problem, most new energy vehicle manufacturers choose to be hard on the front, mostly taking small cars as the incision, and improving user experience by continuously improving battery technology.</p><p>In the field of large SUVs that Ideal specializes in, the demand for large-capacity batteries is even stronger, and it is difficult to overcome the mileage problem in a short time. Therefore, it is ideal to choose the \"fuel plug-in\" method to assist in power generation, which is the so-called extended-range (EREV) electric vehicle.</p><p>The core driving force of EREV electric vehicles is still electricity, but due to the insufficient battery life at this stage, a range extension system of gasoline generator has been added in addition to the electric system. At this stage, this system can indeed provide longer endurance, but it is still regarded as a transitional choice for the development of \"fuel vehicles to pure electric vehicles\".</p><p><img src=\"https://static.tigerbbs.com/eee5f974a6cbb916656c87c66677f223\" tg-width=\"590\" tg-height=\"307\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Ideal himself also admits that EREV electric vehicles are not the mainstream of the market, and there is a lack of successful commercialization examples in the market. Previously, Ideal ONE had always regarded itself as an \"extended-range electric vehicle\" when it was promoted to the outside world, emphasizing that this solution can allow users to bid farewell to mileage anxiety. But last year, the company gave up this obsession. Li Xiang said that in the future, it will no longer emphasize the concept of Ideal ONE as an \"extended-range electric vehicle\", and the unified caliber will be a plug-in hybrid vehicle.</p><p>Ideal ONE (2021 model) has upgraded EREV to a plug-in hybrid (PHEV), and the principle is basically the same as EREV.</p><p>It should be noted that with the rapid development of battery technology, the batteries equipped with electric vehicles are bound to become larger and larger. It may only be a matter of time before EREV electric vehicles are replaced by pure electric electric vehicles.</p><p><img src=\"https://static.tigerbbs.com/6f771793dc37b32fcfeda8694b97cb44\" tg-width=\"404\" tg-height=\"222\" referrerpolicy=\"no-referrer\"></p><p>Based on the above concerns, Ideal has to lay out the high-voltage pure electric technology route. Currently, there are two high-voltage pure electric platforms under development by Ideal, Whale and Shark, both of which are expected to launch new models in 2023. In terms of extended-range electric vehicles, Ideal only has one X platform under development, and will launch a new model based on the X platform in 2022.</p><p>From the perspective of Ideal's strategic layout, it also agrees with the pure electric technology route, but in order to take the lead in realizing commercialization, Ideal can only choose \"curve to save the country\" in the early stage and increase mileage through EREV technology.</p><p><img src=\"https://static.tigerbbs.com/51287805f37d809fcfb51ffabc2adf5a\" tg-width=\"408\" tg-height=\"220\" referrerpolicy=\"no-referrer\"></p><p>Although Ideal is transforming to a pure circuit line, this has greatly increased its own uncertainty. When the ideal pure electric electric vehicle was launched, competitors' pure electric models had been iterated for several generations. How easy is it for Li Auto to complete one-step corner overtaking?</p><p>On the other hand, the simultaneous deployment of pure electric and extended-range technical routes will increase the company's research and development costs sharply. In the Q1 quarter of 2021 alone, the ideal R&D expenses will be close to half of the total R&D expenses in 2020, which will also increase the company's short-term performance fluctuations.</p><p>In terms of marketing, Ideal also chose a difficult road. Instead of choosing the traditional way of distributing goods by dealers, it built its own marketing system. On July 10th, Li Auto's 100th direct retail center officially landed in Xiashan, Zhanjiang, Guangdong. So far, its direct retail center has covered 65 cities across the country.</p><p>The fully self-operated sales model can better serve customers and control sales data, so as to adjust production capacity in time. However, the risks of this model cannot be ignored. Once automobile sales are blocked in the future, the fully self-operated model will further its operating risks.</p><p><img src=\"https://static.tigerbbs.com/6f0e0701ffa4418d7f9a9c4a2ac35824\" tg-width=\"590\" tg-height=\"363\" referrerpolicy=\"no-referrer\"></p><p>Li Xiang once said, \"It is a very important indicator not to rely on a large number of external blood transfusions\". But whether it is technical route research and development, store expansion or software layout, Ideal still has a long way to go. The new energy vehicle track is not a sprint race, but a rally.</p><p>This is a comprehensive test of the company's products, technology, sales, services, and financing. Obviously, it is far from the end of burning money for new energy vehicles. Therefore, listing in Hong Kong is of great significance to new automobile forces.</p><p>In May, Li Xiang said in response to rumors of \"secondary listing\" that the more money, the better. From this perspective, the ideal success of \"crossing the river\" is just one of the nodes of this rally.</p><p>In the next leg of the race, the ideal will rely on \"electric vehicles\" to speak.</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>IPO in Hong Kong: Li Auto's \"Battle of Crossing the River\"</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\">\nIPO in Hong Kong: Li Auto's \"Battle of Crossing the River\"\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1060193092\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/0151ecd107de45069beb5d8f191d7326);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">读懂财经 </p>\n<p class=\"h-time smaller\">2021-07-29 19:52</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>This time last year,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>And<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>It has been listed on the U.S. stock market successively, and the trend of \"new energy vehicles\" in the capital market has become increasingly fierce.</p><p>Affected by the concept hype, the stock prices of new car-making forces continued to skyrocket, but after removing the glitz, the performance of \"Yusanjia\" was not satisfactory. Continuous losses are like a huge boulder, weighing heavily on investors' hearts.</p><p>However, in the context of rising sales and continuous expansion of scale, the market still gives new car-making forces a high valuation. The reason is that this market is large enough.</p><p>According to the CIC Report, from 2017 to 2020, China<a href=\"https://laohu8.com/S/600617\">National New Energy</a>Car sales soared from 600,000 to 1.2 million, with a compound annual growth rate of 26%, accounting for 5.8% of total passenger car sales in 2020. Looking to the future, from 2020 to 2025, the scale of new energy vehicles in China is expected to grow at a compound growth rate of 35.8%, much higher than the 4% growth rate of fuel vehicles.</p><p>According to the plan of the Ministry of Industry and Information Technology, by 2025, domestic sales of new energy vehicles will account for 20% of total vehicle sales. Policy support is the biggest benefit of this industry, which means that the next five years will be the biggest outlet for new energy vehicles.</p><p>The track is good enough, but it is not easy to get to the finish line. BYTON is a typical example. In its heyday, it invested 11 billion yuan to build a modern production base covering an area of 1,200 mu, but a financial crisis soon broke out. At the worst of last year, this one was almost as<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>There are only 41 workers left in a factory as big as a Chinese factory.</p><p>\"Building a car\" is a very expensive project, which not only tests the company's financial strength, but also requires them to be able to continue to raise funds. If they are a little careless, the money burned before will be wasted. This is why XPeng, ideals,<a href=\"https://laohu8.com/S/NIO\">Nio</a>The reason why the U.S. stock market has been listed, and there are tens of billions of funds lying on the account at the end of 2020, and it still chooses to go to Hong Kong for a second IPO.</p><p>The Hong Kong stock market highly recognizes new energy vehicles. XPeng Automobile, which was the first to go public for the second time, has not only been recognized by investment banks, but also received a huge investment from Alibaba, holding nearly 15% of its shares.</p><p>At a time when Sino-US relations are quite delicate, IPO in Hong Kong has become a \"battle across the river\" for new car-making forces. Only by winning this time can we have a chance to run into the future.</p><p>Following XPeng, Li Auto announced on July 26 that it had passed the hearing of the Hong Kong Stock Exchange. After the \"Battle of Crossing the River\" started, can the most impure ideal of \"electric vehicles\" stand out from the tight encirclement?</p><p><b>/01 /</b></p><p><b>The least expensive \"new car-making force\"</b></p><p>Compared with XPeng and NIO (NYSE: NIO), Ideal is definitely the best new car-making force, because Li Xiang has always hoped to make Li Auto the next Toyota.</p><p>In 2015,<a href=\"https://laohu8.com/S/ATHM\">Car Home</a>Still maintaining a high growth rate, Li Xiang decided to leave this project that he hatched. At that time, a friend once advised Li Xiang to \"mix\" for another two years. He said, \"We should build another Toyota in our lifetime. If I can't get the money, I'll pay 100 million dollars myself first.\"</p><p>As we all know, Toyota's success is inseparable from \"lean production\", which greatly improves Toyota's efficiency and effectively controls the company's costs. Therefore, Ideal has that frugality in its bones, and this is fully reflected in its financial report.</p><p>For employees, Li Xiang is not an \"ideal\" boss. Li Xiang once revealed to the media that the company's administration requires employees to buy the economy class with the lowest discount when traveling on business, and economy hotels have to live together with two same-sex people. In the end, these regulations effectively reduced the ideal expenses. In the past three years, the company's marketing and management expenses totaled 2.656 billion yuan, less than half of XPeng's and less than one-fifth of Nio's.</p><p><img src=\"https://static.tigerbbs.com/5936731439079e4626a71d9fb7398bc6\" tg-width=\"589\" tg-height=\"257\" referrerpolicy=\"no-referrer\"></p><p>In terms of research and development expenses, Ideal is also the least \"burning money\". From 2018 to Q1 of 2021, Ideal's total R&D expenditure reached 3.577 billion yuan. This figure is even less than the money Nio spent on R&D in 2018, and is only equivalent to 66% of XPeng's total in three years.</p><p><img src=\"https://static.tigerbbs.com/acb21455c81cb5cea08b8c16f377b6e9\" tg-width=\"589\" tg-height=\"252\" referrerpolicy=\"no-referrer\"></p><p>Saving in all aspects makes Ideal a \"new car-making force\" with the least loss. From 2018 to Q1 of 2021, Ideal's total net loss was 4.483 billion yuan. During the same period, XPeng and Nio lost 8.61 billion yuan and 26.69 billion yuan respectively.</p><p><img src=\"https://static.tigerbbs.com/13bd57ce9bc05a71759d6d06d673d065\" tg-width=\"589\" tg-height=\"248\" referrerpolicy=\"no-referrer\"></p><p>Objectively speaking, when everyone is stuck in the quagmire of losses, it is a great thing that Ideal can effectively control costs. Including its \"extended-range hybrid\" product strategy, it is more like a balanced choice that comprehensively considers factors such as cost, technology, product experience, and usage scenarios. This will bring the company closer to profitability, and it will give shareholders more peace of mind.</p><p>However, this ability to \"save money\" can only prove that Ideal is a company that is good at making products, but it is still far from the final success.</p><p><b>/02 /</b></p><p><b>How to realize the \"ideal\"?</b></p><p>The gameplay of new energy vehicles has never changed: cars are only carriers, and ecology is the key.</p><p>Tesla is the most successful new energy vehicle in the world. review's development can be found that if Tesla wants to succeed, it must take two major paths: achieving economies of scale and realizing ecology.</p><p>All businesses in the world that sell ecology are inseparable from one word: scale. According to Metcalfe's Law, when an ecosystem gathers more users, the greater the value it generates, and this value will increase exponentially with the number of users.</p><p>Of course, automobiles are originally the most typical industry with economies of scale. For new energy vehicle companies, what they do is not just pure hardware sales, but build a huge new energy vehicle ecosystem and make money through ecological effects. The first step in ecological construction is volume, and car delivery has become a key indicator.</p><p>Different from the many models of traditional car companies, Li Auto only has ONE model, Ideal ONE (including the 2021 model).</p><p>Since its launch, Li Auto has delivered a total of 63,700 vehicles, and the sales volume in a single quarter has increased from less than 1,000 units to 17,575 units. Li Xiang's next goal is to sell over 10,000 units in September this year. In terms of sales volume, Ideal ONE is the best-selling new energy SUV model in China in 2020, with a market share of approximately 9.7%. However, there is only one car, and as the cycle extends, its product competitiveness will gradually decline.</p><p><img src=\"https://static.tigerbbs.com/5554c48c321ff255ab9ab2df94200b70\" tg-width=\"589\" tg-height=\"339\" referrerpolicy=\"no-referrer\"></p><p>Theoretically, as the scale of users increases, the value of the ideal new energy vehicle ecosystem continues to increase, and then revenue is generated through value-added services. This converts the one-time consumption of ordinary cars into sustainable continuous income. As long as users are still using ideal services, they will continue to contribute income to them.</p><p>On the other hand, if the business model of new energy vehicles wants to run successfully, it still needs to be ecological, which is ultimately reflected in the financial report that the gross profit margin continues to increase.</p><p>The biggest difference between new energy vehicles and ordinary vehicles is that new energy vehicles themselves need data support and will also create massive amounts of data. Hardware serves as a traffic entrance, and software is a means of profit. This has become a common gameplay for almost all new energy car companies.</p><p>Since the gross profit margin of vehicle sales is very low and the gross profit margin of service business is relatively high, this means that the higher the proportion of service business, the higher the gross profit margin of the company.</p><p>How to increase gross profit margin? This requires car companies to deepen technology research and development. At present, Ideal has independently developed a complete set of software systems.</p><p>Half of the ideal R&D investment goes to autonomous driving. At present, Ideal ONE belongs to the L2 level, but the company stated that it already has L4 level reserves and plans to apply it to products launched after 2022. However, real L4 and L5 level autonomous driving is not a purely technical issue. Real commercialization requires infrastructure construction such as road networks and regulations, which requires a long process.</p><p>Back to the ideal, the ideal state is that when more cars are sold, there will be more users of the software; When the software experience gets better and better, users will spread word of mouth to promote automobile marketing, thus achieving a positive feedback loop.</p><p>Therefore, automobile scale and software quality are the keys to enhancing the core value of the ideal ecology. This is also the \"ideal\" in the hearts of all players.</p><p><b>/03 /</b></p><p><b>The most impure \"electric car\"</b></p><p>While looking up at the sky, you should also look down at the road.</p><p>At present, although Ideal is the new car-making force closest to profitability, it is also the most impure \"electric vehicle\", which is what many investors have always questioned.</p><p>Since the birth of new energy vehicles, there has been a problem of insufficient battery life. In response to this problem, most new energy vehicle manufacturers choose to be hard on the front, mostly taking small cars as the incision, and improving user experience by continuously improving battery technology.</p><p>In the field of large SUVs that Ideal specializes in, the demand for large-capacity batteries is even stronger, and it is difficult to overcome the mileage problem in a short time. Therefore, it is ideal to choose the \"fuel plug-in\" method to assist in power generation, which is the so-called extended-range (EREV) electric vehicle.</p><p>The core driving force of EREV electric vehicles is still electricity, but due to the insufficient battery life at this stage, a range extension system of gasoline generator has been added in addition to the electric system. At this stage, this system can indeed provide longer endurance, but it is still regarded as a transitional choice for the development of \"fuel vehicles to pure electric vehicles\".</p><p><img src=\"https://static.tigerbbs.com/eee5f974a6cbb916656c87c66677f223\" tg-width=\"590\" tg-height=\"307\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Ideal himself also admits that EREV electric vehicles are not the mainstream of the market, and there is a lack of successful commercialization examples in the market. Previously, Ideal ONE had always regarded itself as an \"extended-range electric vehicle\" when it was promoted to the outside world, emphasizing that this solution can allow users to bid farewell to mileage anxiety. But last year, the company gave up this obsession. Li Xiang said that in the future, it will no longer emphasize the concept of Ideal ONE as an \"extended-range electric vehicle\", and the unified caliber will be a plug-in hybrid vehicle.</p><p>Ideal ONE (2021 model) has upgraded EREV to a plug-in hybrid (PHEV), and the principle is basically the same as EREV.</p><p>It should be noted that with the rapid development of battery technology, the batteries equipped with electric vehicles are bound to become larger and larger. It may only be a matter of time before EREV electric vehicles are replaced by pure electric electric vehicles.</p><p><img src=\"https://static.tigerbbs.com/6f771793dc37b32fcfeda8694b97cb44\" tg-width=\"404\" tg-height=\"222\" referrerpolicy=\"no-referrer\"></p><p>Based on the above concerns, Ideal has to lay out the high-voltage pure electric technology route. Currently, there are two high-voltage pure electric platforms under development by Ideal, Whale and Shark, both of which are expected to launch new models in 2023. In terms of extended-range electric vehicles, Ideal only has one X platform under development, and will launch a new model based on the X platform in 2022.</p><p>From the perspective of Ideal's strategic layout, it also agrees with the pure electric technology route, but in order to take the lead in realizing commercialization, Ideal can only choose \"curve to save the country\" in the early stage and increase mileage through EREV technology.</p><p><img src=\"https://static.tigerbbs.com/51287805f37d809fcfb51ffabc2adf5a\" tg-width=\"408\" tg-height=\"220\" referrerpolicy=\"no-referrer\"></p><p>Although Ideal is transforming to a pure circuit line, this has greatly increased its own uncertainty. When the ideal pure electric electric vehicle was launched, competitors' pure electric models had been iterated for several generations. How easy is it for Li Auto to complete one-step corner overtaking?</p><p>On the other hand, the simultaneous deployment of pure electric and extended-range technical routes will increase the company's research and development costs sharply. In the Q1 quarter of 2021 alone, the ideal R&D expenses will be close to half of the total R&D expenses in 2020, which will also increase the company's short-term performance fluctuations.</p><p>In terms of marketing, Ideal also chose a difficult road. Instead of choosing the traditional way of distributing goods by dealers, it built its own marketing system. On July 10th, Li Auto's 100th direct retail center officially landed in Xiashan, Zhanjiang, Guangdong. So far, its direct retail center has covered 65 cities across the country.</p><p>The fully self-operated sales model can better serve customers and control sales data, so as to adjust production capacity in time. However, the risks of this model cannot be ignored. Once automobile sales are blocked in the future, the fully self-operated model will further its operating risks.</p><p><img src=\"https://static.tigerbbs.com/6f0e0701ffa4418d7f9a9c4a2ac35824\" tg-width=\"590\" tg-height=\"363\" referrerpolicy=\"no-referrer\"></p><p>Li Xiang once said, \"It is a very important indicator not to rely on a large number of external blood transfusions\". But whether it is technical route research and development, store expansion or software layout, Ideal still has a long way to go. The new energy vehicle track is not a sprint race, but a rally.</p><p>This is a comprehensive test of the company's products, technology, sales, services, and financing. Obviously, it is far from the end of burning money for new energy vehicles. Therefore, listing in Hong Kong is of great significance to new automobile forces.</p><p>In May, Li Xiang said in response to rumors of \"secondary listing\" that the more money, the better. From this perspective, the ideal success of \"crossing the river\" is just one of the nodes of this rally.</p><p>In the next leg of the race, the ideal will rely on \"electric vehicles\" to speak.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c3461c9400040bdfdce3ecdd4882fbed","relate_stocks":{"02015":"理想汽车-W","LI":"理想汽车"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136422208","content_text":"去年这个时间，理想汽车和小鹏汽车先后在美股上市，资本市场“新能源汽车”的风潮也愈刮愈烈。\n受概念炒作影响，造车新势力股价持续暴涨，但除去浮华之后，“御三家”的业绩却并不尽如人意。持续亏损犹如一块巨石，重重地压在投资者心口。\n但在销量不断上涨，规模持续扩大的背景下，市场依然给予造车新势力们很高的估值，究其原因就在于这个市场足够大。\n据灼识谘询报告，2017年-2020年，中国新能源汽车销量从60万辆飙升至120万辆，年复合增长率高达26%，占2020年乘用车总销量的5.8%。放眼未来，2020年至2025年，中国新能源汽车规模预计将以35.8%的复合增长率增长，远高于燃油车4%的增速。\n而根据工信部规划，到2025年国内新能源汽车的销量要占到汽车总销量的20%。政策扶持是这个行业的最大利好，这就意味着未来五年将会是新能源汽车最大的风口。\n赛道足够好，但要想跑到终点却并不容易，拜腾就是一个典型。鼎盛时期，它曾投资110亿元，建了一座占地1200亩的现代化生产基地，但很快就爆发财务危机。去年最惨的时候，这座几乎跟特斯拉中国工厂一样大的工厂中只剩41个工人。\n“造车”是一个很烧钱的项目，不仅考验公司的资金实力，同时也需要它们能够持续融资，稍有不慎，此前烧掉的钱就会付诸东流。这也是为何小鹏、理想、蔚来已经完成美股上市，2020年末账上躺着数百亿资金，依然选择赴港二次IPO的原因。\n港股市场对新能源汽车极为认可，最先二次上市的小鹏汽车不仅获得了投行的肯定，而且还获阿里巨资入股，持有其近15%的股份。\n在中美关系颇为微妙的当下，赴港IPO成了造车新势力的“渡江战役”，赢了这一次才有机会奔向未来。\n紧随小鹏，理想汽车于7月26日宣布通过港交所聆讯。打响“渡江战役”后，最不纯粹的“电动车”理想能够突出重围吗？\n/ 01 /\n最不烧钱的“造车新势力”\n与小鹏和蔚来(NYSE:NIO)相比，理想绝对是最会过日子的造车新势力，因为一直以来李想都希望把理想汽车打造成下一个丰田。\n2015年，汽车之家仍保持较高的增速，李想却决定选择离开这个自己一手孵化的项目。当时好友曾劝李想再“混”两年，他说：“要在有生之年，再造一个丰田。如果融不到钱，我自己先掏一个亿美元。”\n众所周知，丰田的成功离不开“精益生产”，它大幅提升了丰田的效率，有效控制了公司的成本。因此，理想从骨子里就带着那股节俭劲，而这也完全体现在其财报中。\n对员工而言，李想并不是一个“理想”的老板。李想曾向媒体透露，公司行政要求员工出差必须买折扣最低的经济舱，经济酒店都要两个同性在一起住。最终，这些规定有效降低了理想的费用支出，过去三年公司的营销和管理花费合计26.56亿元，不到小鹏的一半，不足蔚来的五分之一。\n\n在研发费用方面，理想也是“烧钱”最少的。2018年-2021年Q1，理想研发费用合计支出达35.77亿元，这一数据甚至不到蔚来2018年一年在研发上烧的钱，仅相当于小鹏三年合计的66%。\n\n方方面面的节省，让理想成为亏钱最少的“造车新势力”。2018年-2021年Q1，理想合计净亏损44.83亿元。同期小鹏和蔚来分别亏了86.1亿元、266.9亿元。\n\n客观来说，当大家都陷在亏损泥潭，理想能有效做到控制成本是一件很了不起的事情。包括其“增程式混动”的产品策略，更像是一种综合考虑成本、技术、产品体验以及使用场景等因素下的平衡选择。这会让公司距离盈利更近，也会让股东更放心。\n不过，这种“省钱”能力，只能证明理想是一家善于做产品的公司，但距离最终的成功依然很远。\n/ 02 /\n“理想”如何实现？\n新能源汽车的玩法始终没有变：汽车只是载体，生态才是关键。\n特斯拉是世界上最成功的新能源汽车，复盘其发展可以发现，理想想要成功必须走通两大路径：达成规模效应、实现生态化。\n世界上所有以生态为卖点的生意，都离不开一个词：规模。根据“梅特卡夫法则”，当一个生态聚集的用户越多，那么其产生的价值也就越大，并且这个价值会随着用户数呈指数级增长。\n当然，汽车本来也是最典型的规模经济产业。对新能源汽车企业来说，它们做的事情绝不仅仅是单纯的硬件销售，而是构建一个庞大的新能源汽车生态，并通过生态效应赚钱。生态构建的第一步就是体量，汽车交付量就成为关键指标。\n不同于传统车企繁多的车型，理想汽车只有理想ONE一款车型（包含2021型）。\n从上市至今，理想汽车合计交付汽车6.37万辆，单季销交付量由不足千台提升至17575台，李想的下一个目标是今年9月销售过万。按销量计算，理想ONE是2020年中国最畅销的新能源SUV车型，市场份额约9.7%。不过，仅有一款车，随着周期的延长，其产品竞争力也会逐步下降。\n\n理论上，随着用户规模的提升，理想的新能源汽车生态的价值不断增加，然后通过增值服务的方式创收。这就将普通汽车的一次性消费转化成可持续的连续收入，只要用户还在使用理想的服务，那么就会继续为其贡献收入。\n另一方面，新能源汽车的商业模式想要成功跑通，还需要实现生态化，最终体现在财报中就是毛利率不断提升。\n新能源汽车与普通汽车最大的不同在于，新能源汽车自身需要数据支撑，同时也会创造海量的数据。硬件作为流量入口，软件则是盈利手段，这已经是几乎所有新能源车企的通用玩法。\n由于整车销售毛利率很低，而服务业务毛利率较高，这就意味着服务业务占比越高，公司的毛利率也就越高。\n如何提升毛利率？这就需要车企深耕技术研发。目前，理想已经自主研发了一整套软件系统。\n在理想的研发投入中，有一半用到了自动驾驶之上。目前理想ONE属于L2级，但公司表示已具备L4级别的储备，并计划应用于2022之后推出的产品中。不过，真正L4、L5级别的自动驾驶不是一个纯技术问题，真正的商业化落地需要路网、法规等基础建设，这需要一个漫长的过程。\n回到理想身上，最理想状态是当汽车卖的多了，软件的用户也就多了；当软件体验越来越好，用户又会口口相传促进汽车营销，从而达成正反馈循环。\n因此，汽车规模和软件质量，是提升理想生态核心价值的关键。这也是所有玩家心中的“理想”。\n/ 03 /\n最不纯粹的“电动车”\n抬头看天的同时，也要低头看路。\n目前看，理想虽是距离盈利最近的造车新势力，但同时它也是最不纯粹的“电动车”，这也是很多投资者始终质疑的地方。\n新能源汽车自诞生之日起，就存在电池续航不足的问题。针对这个问题，大多数新能源汽车厂家都选择正面硬刚，大多以小型车为切口，通过不断提升电池技术的方式来提升用户体验。\n而理想专攻的大型SUV领域，本身对大容量电池的需求就更为旺盛，很难在短时间内攻破里程难题。因此，理想选择“燃油外挂”的方式来辅助发电，也就是所谓增程式（EREV）电动车。\nEREV电动车的核心驱动力依然是电力，但由于现阶段电池续航能力不足，因此在电动系统之外还增加了一台汽油发电机的增程系统。就现阶段而言，这套系统确实能提供更远的续航能力，但还是被视为“燃油车向纯电车”发展的一个过渡选择。\n\n理想自己也承认，EREV电动车并非市场主流，市场中缺乏成功商业化的实例。此前，理想ONE对外宣传时一直以“增程式电动车”自居，强调这一解决方案可以让用户告别里程焦虑。但去年公司放弃这一执念，李想表示，未来不再强调理想ONE是“增程式电动车”概念，统一口径为插电式混合动力汽车。\n理想ONE（2021型）已经将EREV升级为插电式混合动力（PHEV），原理基本与EREV大致相同。\n需要说明的是，在电池技术飞速发展的当下，电动车所配备的电池势必会越来越大，EREV电动车被纯电电动车代替或许只是一个时间问题。\n\n基于以上担忧，理想不得不进行高压纯电技术路线的布局。目前，理想在研的高压纯电平台有Whale和Shark两款，预计均会在2023年推出新款车型。而增程式电动车方面，理想则只有一款X平台在研，并2022年推出基于X平台的新款车型。\n从理想的战略布局看，其也是认同纯电技术路线的，只不过为了率先实现商业化，理想初期只能选择“曲线救国”，通过EREV技术来增加里程。\n\n尽管理想正在向纯电路线转型，但这就大幅增加了自身的不确定性。当理想纯电电动车推出的时候，竞争对手的纯电车型已经迭代了好几代，理想汽车想要完成一步到位的弯道超车，谈何容易？\n另一方面，同时布局纯电和增程式两种技术路线，又会让公司的研发成本陡增。仅2021年Q1季度，理想的研发费用就接近2020年总研发费用的一半，这也会增大公司短期的业绩波动。\n在市场推广上，理想也选择了一条艰难之路，它没有选择传统经销商铺货的方式，而是自建营销体系。7月10日，理想汽车第100家直营零售中心正式落地广东湛江霞山，至此其直营零售中心已经覆盖了全国65个城市。\n完全自营的销售模式能够更好的服务客户、掌控销售数据，从而能够及时调整产能状况。但这种模式的风险也不容忽视，未来一旦汽车销售遇阻，那么完全自营的模式将会进一步其经营风险。\n\n李想曾说过，“不依赖于大量外部的输血，这是一个很重要的指标”。但无论是技术路线研发、门店扩张还是软件布局，理想还有很长的路要走。新能源汽车赛道不是冲刺赛，而是一场拉力赛。\n这是一次对公司产品、技术、销售、服务、融资的全方面考验，显而易见，目前远不是新能源汽车烧钱的尽头。因此，赴港上市对汽车新势力们意义非凡。\n5月，李想在回应“二次上市”传闻时表示，钱肯定是多多益善。从这个角度来说，理想成功“渡江”，也不过是这场拉力赛的节点之一。\n下一段赛程，理想要靠“电动车”说话了。","news_type":1,"symbols_score_info":{"02015":0.9,"LI":0.9}},"isVote":1,"tweetType":1,"viewCount":2155,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9969966042,"gmtCreate":1668320077486,"gmtModify":1676538041226,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087693924266930","authorIdStr":"4087693924266930"},"themes":[],"htmlText":"<a 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23:36","market":"us","language":"zh","title":"The world is guessing when the United States will fall into recession, Sister Wood: It has already begun","url":"https://stock-news.laohu8.com/highlight/detail?id=1157047337","media":"华尔街见闻","summary":"木头姐认为，供应链问题和通胀，已经将美国经济拖入深渊。","content":"<p><html><head></head><body>Author: Cao Zexi</p><p>While Wall Street bosses are arguing about when the United States will fall into recession, \"Sister Wood\" Cathie Wood believes that the United States has fallen into an economic recession, and she admits that she underestimates the severity and persistence of inflation in the United States.</p><p>Wood says:</p><p>We think we're in a recession. We think there's a big problem with inventory … I've never seen such a large increase in inventory in my 45-year career. Wood said inflation was higher than she expected due to supply chain disruptions and geopolitical risks:</p><p>We were wrong about one thing, we didn't realize inflation was going to last so long. The supply chain problem, I can't believe it, has been going on for more than two years, and at that time we did not expect the conflict between Russia and Ukraine. Inflation has always been a bigger problem, but it's going to send us into deflation. Wood believes consumers are feeling the rapid rise in prices, which is reflected in sentiment data that fell to record lows. She cited a University of Michigan consumer survey showing that this figure was 50 in June, the lowest level ever.</p><p>U.S. inflation, measured by the consumer price index, rose 8.6% year-on-year in May, the fastest increase since December 1981.</p><p>The market generally believes that 2022 is Wood's Waterloo. In the face of rising interest rates, the fund she manages has emerged as one of the biggest losers this year. Her flagship active fund, the Ark Innovation ETF (ARKK), is down 52% this year and 66% from its 52-week high.</p><p>Still, Wood said her clients mostly stick to her funds, and new money is pouring in as investors seek to diversify in a depressed market. ARKK's inflows in June have surpassed $180 million, according to FactSet:</p><p>I think the inflows are happening because our clients have been moving away from broad-based benchmark indexes like the Nasdaq 100, and we're fully committed to disruptive innovation. Innovation can solve problems. At present, the mainstream thinking in the market is still that the economic recession is getting closer and closer, but it has not yet arrived.</p><p>The recent crash of multiple macro data in the United States indicates that the U.S. economy is facing the risk of recession. On Monday, the overall corporate activity index of the June Texas Manufacturing Survey released by the Dallas Fed plummeted to-17.7 from-7.3 in May, the lowest point since May 2020. The index value was also far worse than market expectations of-3.1. The preliminary values of Markit manufacturing, service and comprehensive PMI in June in the United States released last week fell across the board, all falling short of expectations. Among them, the manufacturing PMI recorded 52.4, a 23-month low, and the manufacturing output index fell below the boom for the first time in two years. The watershed 50, the service industry and the comprehensive PMI both hit five-month lows.</p><p>Currently, on the one hand, there are concerns about inflation at a 40-year high in the United States, and on the other hand, there are concerns about the slowdown in corporate profit growth, the slowdown or even recession of the overall U.S. economy. Although U.S. stocks have rebounded significantly since mid-June, and the 3.1% increase in the S&P 500 index last Friday was the largest one-day increase in more than two years, investors are still \"scared\", hedge funds are cautious, and many Wall Street analysts believe that the rebound may be short-lived.</p><p>Not only the United States, but also Europe on the other side of the Atlantic is having a hard time. In June, the initial value of the euro zone comprehensive PMI dropped to 51.9, a 16-month low. Among them, the growth of France and Germany, the two economic \"locomotives\", slowed down sharply, and Britain showed signs of economic stagnation.</p><p>At the same time, the market is also facing the aggressive tightening of the Federal Reserve and the looming natural gas crisis in Europe. Therefore, economists are becoming increasingly pessimistic and believe that it is \"increasingly possible\" that Europe and the United States will fall into economic recession, and the risk is rising sharply.</p><p></body></html></p>","source":"highlight_wallstreetcn","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>The world is guessing when the United States will fall into recession, Sister Wood: It has already begun</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\">\nThe world is guessing when the United States will fall into recession, Sister Wood: It has already begun\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2022-06-28 23:36</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Author: Cao Zexi</p><p>While Wall Street bosses are arguing about when the United States will fall into recession, \"Sister Wood\" Cathie Wood believes that the United States has fallen into an economic recession, and she admits that she underestimates the severity and persistence of inflation in the United States.</p><p>Wood says:</p><p>We think we're in a recession. We think there's a big problem with inventory … I've never seen such a large increase in inventory in my 45-year career. Wood said inflation was higher than she expected due to supply chain disruptions and geopolitical risks:</p><p>We were wrong about one thing, we didn't realize inflation was going to last so long. The supply chain problem, I can't believe it, has been going on for more than two years, and at that time we did not expect the conflict between Russia and Ukraine. Inflation has always been a bigger problem, but it's going to send us into deflation. Wood believes consumers are feeling the rapid rise in prices, which is reflected in sentiment data that fell to record lows. She cited a University of Michigan consumer survey showing that this figure was 50 in June, the lowest level ever.</p><p>U.S. inflation, measured by the consumer price index, rose 8.6% year-on-year in May, the fastest increase since December 1981.</p><p>The market generally believes that 2022 is Wood's Waterloo. In the face of rising interest rates, the fund she manages has emerged as one of the biggest losers this year. Her flagship active fund, the Ark Innovation ETF (ARKK), is down 52% this year and 66% from its 52-week high.</p><p>Still, Wood said her clients mostly stick to her funds, and new money is pouring in as investors seek to diversify in a depressed market. ARKK's inflows in June have surpassed $180 million, according to FactSet:</p><p>I think the inflows are happening because our clients have been moving away from broad-based benchmark indexes like the Nasdaq 100, and we're fully committed to disruptive innovation. Innovation can solve problems. At present, the mainstream thinking in the market is still that the economic recession is getting closer and closer, but it has not yet arrived.</p><p>The recent crash of multiple macro data in the United States indicates that the U.S. economy is facing the risk of recession. On Monday, the overall corporate activity index of the June Texas Manufacturing Survey released by the Dallas Fed plummeted to-17.7 from-7.3 in May, the lowest point since May 2020. The index value was also far worse than market expectations of-3.1. The preliminary values of Markit manufacturing, service and comprehensive PMI in June in the United States released last week fell across the board, all falling short of expectations. Among them, the manufacturing PMI recorded 52.4, a 23-month low, and the manufacturing output index fell below the boom for the first time in two years. The watershed 50, the service industry and the comprehensive PMI both hit five-month lows.</p><p>Currently, on the one hand, there are concerns about inflation at a 40-year high in the United States, and on the other hand, there are concerns about the slowdown in corporate profit growth, the slowdown or even recession of the overall U.S. economy. Although U.S. stocks have rebounded significantly since mid-June, and the 3.1% increase in the S&P 500 index last Friday was the largest one-day increase in more than two years, investors are still \"scared\", hedge funds are cautious, and many Wall Street analysts believe that the rebound may be short-lived.</p><p>Not only the United States, but also Europe on the other side of the Atlantic is having a hard time. In June, the initial value of the euro zone comprehensive PMI dropped to 51.9, a 16-month low. Among them, the growth of France and Germany, the two economic \"locomotives\", slowed down sharply, and Britain showed signs of economic stagnation.</p><p>At the same time, the market is also facing the aggressive tightening of the Federal Reserve and the looming natural gas crisis in Europe. Therefore, economists are becoming increasingly pessimistic and believe that it is \"increasingly possible\" that Europe and the United States will fall into economic recession, and the risk is rising sharply.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3663281\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/d926776f752c08f272e4ba22a079a81f","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://wallstreetcn.com/articles/3663281","is_english":false,"share_image_url":"https://static.laohu8.com/cc96873d3d23ee6ac10685520df9c100","article_id":"1157047337","content_text":"作者：曹泽熙就在华尔街的大佬们为美国到底什么时候陷入衰退争论不休的时候，“木头姐”Cathie Wood则认为，美国已经陷入经济衰退，她承认自己低估了美国通胀的严重性和持续性。Wood说：我们认为我们正处于衰退之中。我们认为库存存在一个大问题……我45年的职业生涯中从未见过如此大幅度的库存增加。Wood表示，由于供应链中断和地缘政治风险，通胀比她预期的要高：我们在一件事上错了，我们没有意识到通胀会持续这么久。供应链的问题，不敢相信，已经持续了两年多的时间，而那个时候我们还没预料到俄乌冲突。通货膨胀一直是一个更大的问题，但它将让我们陷入通货紧缩。Wood认为，消费者正在感受到价格的快速上涨，这反映在跌至历史低点的情绪数据中。她援引密歇根大学的消费者调查显示，6月份这一数据为50，是有史以来的最低水平。美国以消费者价格指数衡量的通货膨胀率在5月份同比上涨8.6%，是自1981年12月以来的最快涨幅。市场普遍认为，2022年是Wood的滑铁卢。面对利率上升，她管理的基金成为今年以来最大的输家之一。她的旗舰主动基金Ark Innovation ETF (ARKK) 今年以来已下跌52%，较52周高点下跌66%。尽管如此，Wood表示，她的客户大多坚持她的基金，随着投资者在低迷的市场中寻求多元化，新资金正在涌入。根据 FactSet的数据，ARKK 6月份的资金流入已超过1.8亿美元：我认为资金流入正在发生，因为我们的客户一直在远离纳斯达克100等基础广泛的基准指数，我们完全致力于颠覆性创新。创新才能解决问题。目前，市场主流的想法依然是，经济衰退已经是越来越近，但是还没有到来。近来美国多个宏观数据崩盘预示着美国经济面临衰退风险。周一达拉斯联储公布的6月得州制造业调查总体企业活动指数从5月的-7.3暴跌至-17.7，创2020年5月以来的最低点，该指数数值也远逊于市场预期的-3.1。上周公布的美国6月Markit制造业、服务业、综合PMI初值全线滑落，均不及预期，其中制造业PMI录得52.4，创23个月新低，制造业产出指数两年来首次跌破荣枯分水岭50，服务业和综合PMI均创5个月新低。当前，一边是对美国处于40年高点通胀的担忧，一边又是企业利润增速放缓、美国整体经济的放缓甚至衰退的担忧。虽然美股自6月中旬以来显著反弹，上周五标普500指数3.1%的涨幅更是创下两年多来的最大单日涨幅，但投资者依旧“惶恐”，对冲基金谨慎，不少华尔街分析师们认为反弹或是短暂的。不止美国，大西洋彼岸的欧洲日子也不好过。6月份欧元区综合PMI初值降至51.9，创下16个月来的低点，其中两个经济“火车头”法国和德国的增长急剧放缓，英国更是显露出经济停滞的信号。与此同时，市场还在同时面对美联储的激进紧缩，以及欧洲日益逼近的天然气危机，因此经济学家愈发悲观，并认为欧美陷入经济衰退“越来越有可能”，风险正在急剧上升。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2164,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143017148,"gmtCreate":1625752487484,"gmtModify":1703747848446,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087693924266930","authorIdStr":"4087693924266930"},"themes":[],"htmlText":"wa","listText":"wa","text":"wa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/143017148","repostId":"1188969765","repostType":4,"repost":{"id":"1188969765","kind":"news","pubTimestamp":1625745301,"share":"https://ttm.financial/m/news/1188969765?lang=en_US&edition=fundamental","pubTime":"2021-07-08 19:55","market":"sh","language":"zh","title":"The central bank requires personal information on online platforms to \"disconnect\" from financial institutions","url":"https://stock-news.laohu8.com/highlight/detail?id=1188969765","media":"《财经》","summary":"这一要求并非新的指令，而是前期整改要求中的应有之义。","content":"<p>Text/Zhang Wei</p><p>Caijing reporters learned from multiple sources that the Credit Information Administration of the People's Bank of China recently issued a notice to online platform institutions, requiring online platforms to achieve a comprehensive \"direct disconnection\" between personal information and financial institutions.</p><p>This requirement is not a new instruction, but the proper meaning of the previous rectification requirements.</p><p>On April 29, 2021, the People's Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, the State Administration of Foreign Exchange and other financial management departments (hereinafter referred to as the financial management departments) jointly conducted regulatory interviews with 13 online platform companies engaged in financial business. The main reason for the interview is that these online platforms generally have serious violations such as engaging in financial business without a license or beyond the license scope, imperfect corporate governance mechanism, regulatory arbitrage, unfair competition, and damage to the legitimate rights and interests of consumers.</p><p>In view of the outstanding problems that are common in the financial business of online platform enterprises at present, the financial regulatory authorities have put forward seven major rectification requirements, one of which is to break the information monopoly and carry out personal credit reporting business strictly through licensed credit reporting agencies in accordance with laws and regulations.</p><p>According to this rectification requirement, the network platform directly provides the information voluntarily submitted by individuals, the information generated in the platform or the information obtained from the outside to financial institutions in the name of application information, identity information, basic information, personal portrait scoring information, etc. in the business cooperation with financial institutions, such as drainage, loan assistance and joint loan, and it is necessary to realize the comprehensive \"disconnection\" between personal information and financial institutions.</p><p>According to Caijing reporters, the above-mentioned institutions have completed preliminary rectification plans before June 30, 2021. The reason why the Credit Information Administration of the Central Bank issued a notice again to stop the direct connection between personal information on online platforms and financial institutions is that some of the above-mentioned institutions still directly provide personal information to financial institutions in their rectification plans.</p><p>An expert in the field of monopoly topics told Caijing that the online platform combines personal data with financial products, and the development of domestic mutual funds is such a simple logic. Under the current mode, all apps are doing personal credit reporting business, which is strictly non-compliant. \"Of course, this also has a certain relationship with the lag of China's credit reporting industry, which gives Internet companies room for arbitrage. In addition, it is also related to the lag of China's small, medium and micro enterprises and personal financial business itself.\"</p><p>A senior analyst in the financial industry told Caijing that the products of these platforms have a common feature, that is, they are based on payment, collect data through payment business, and then superimpose the promotion of higher-level financial products on the basis of payment. Everyone can see its benefits. It is the foundation of modern business, can promote digital transformation, and even drive the development of the real industry. However, there are also some problems, such as the problem of leverage ratio and the problem of user data collection, which in turn leads to the \"two-choice\" competition, etc., it has gradually formed a monopoly ecology. This is harmful to the protection of users' rights and interests, and even to the whole economic development.</p><p>Experts in the above-mentioned monopoly topic field said that if the policy is implemented in place, the way for all kinds of mobile apps to realize data value through financial services will be greatly narrowed, or basically blocked.</p><p>A senior researcher told the Caijing reporter that from the perspective of maintaining the large market mechanism, strengthening anti-monopoly is intended to maintain the normal operation of the market mechanism, which is the top level. The regulatory authorities emphasize financial compliance operations, licensed operations, serving entities, inclusive services, and financial consumers, effectively protecting consumers' rights and interests, and protecting information security. These all belong to the broad category of behavioral supervision, which reflects the continuous improvement of behavioral supervision as a \"double pillar\", which is also consistent with international experience. Enterprises must adapt to this regulatory climate.</p><p>At the same time, the construction of China's Internet financial credit information system is crucial. Recently, Zhu Peiqing, who works for Chifeng Central Sub-branch of the People's Bank of China, and Yang Lijuan, who works for Keshiketeng Banner Sub-branch of the People's Bank of China, jointly wrote an article suggesting improving the personal privacy protection system.</p><p>First, improve relevant legal provisions. Formulate a practical Personal Information Protection Law to clarify the scope of personal information.</p><p>Second, take effective actions. Enterprises should carry out Internet credit reporting activities in strict accordance with the management requirements of the Regulations on the Administration of Credit Information Industry, and at the same time further strengthen the ability of big data to collect and supervise the use of credit information, so as to provide strong support for the collection of credit information of big data. Under the guidance of relevant laws and regulations, strengthen the punishment of dishonesty of untrustworthy people. If there is any serious dishonesty, they should be investigated for corresponding legal responsibilities.</p><p>The third is to strengthen the supervision and management of credit information to ensure the safety of credit information. Relevant departments should take active and effective measures to establish Internet financial supervision and Internet credit information collection databases. Only by strengthening credit information security management and establishing multi-channel personal information protection mechanisms can we effectively prevent credit risks and provide a comprehensive guarantee for the data security of Internet credit information collection.</p>","source":"lsy1583384439392","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>The central bank requires personal information on online platforms to \"disconnect\" from financial institutions</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\">\nThe central bank requires personal information on online platforms to \"disconnect\" from financial institutions\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">《财经》</strong><span class=\"h-time small\">2021-07-08 19:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Text/Zhang Wei</p><p>Caijing reporters learned from multiple sources that the Credit Information Administration of the People's Bank of China recently issued a notice to online platform institutions, requiring online platforms to achieve a comprehensive \"direct disconnection\" between personal information and financial institutions.</p><p>This requirement is not a new instruction, but the proper meaning of the previous rectification requirements.</p><p>On April 29, 2021, the People's Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, the State Administration of Foreign Exchange and other financial management departments (hereinafter referred to as the financial management departments) jointly conducted regulatory interviews with 13 online platform companies engaged in financial business. The main reason for the interview is that these online platforms generally have serious violations such as engaging in financial business without a license or beyond the license scope, imperfect corporate governance mechanism, regulatory arbitrage, unfair competition, and damage to the legitimate rights and interests of consumers.</p><p>In view of the outstanding problems that are common in the financial business of online platform enterprises at present, the financial regulatory authorities have put forward seven major rectification requirements, one of which is to break the information monopoly and carry out personal credit reporting business strictly through licensed credit reporting agencies in accordance with laws and regulations.</p><p>According to this rectification requirement, the network platform directly provides the information voluntarily submitted by individuals, the information generated in the platform or the information obtained from the outside to financial institutions in the name of application information, identity information, basic information, personal portrait scoring information, etc. in the business cooperation with financial institutions, such as drainage, loan assistance and joint loan, and it is necessary to realize the comprehensive \"disconnection\" between personal information and financial institutions.</p><p>According to Caijing reporters, the above-mentioned institutions have completed preliminary rectification plans before June 30, 2021. The reason why the Credit Information Administration of the Central Bank issued a notice again to stop the direct connection between personal information on online platforms and financial institutions is that some of the above-mentioned institutions still directly provide personal information to financial institutions in their rectification plans.</p><p>An expert in the field of monopoly topics told Caijing that the online platform combines personal data with financial products, and the development of domestic mutual funds is such a simple logic. Under the current mode, all apps are doing personal credit reporting business, which is strictly non-compliant. \"Of course, this also has a certain relationship with the lag of China's credit reporting industry, which gives Internet companies room for arbitrage. In addition, it is also related to the lag of China's small, medium and micro enterprises and personal financial business itself.\"</p><p>A senior analyst in the financial industry told Caijing that the products of these platforms have a common feature, that is, they are based on payment, collect data through payment business, and then superimpose the promotion of higher-level financial products on the basis of payment. Everyone can see its benefits. It is the foundation of modern business, can promote digital transformation, and even drive the development of the real industry. However, there are also some problems, such as the problem of leverage ratio and the problem of user data collection, which in turn leads to the \"two-choice\" competition, etc., it has gradually formed a monopoly ecology. This is harmful to the protection of users' rights and interests, and even to the whole economic development.</p><p>Experts in the above-mentioned monopoly topic field said that if the policy is implemented in place, the way for all kinds of mobile apps to realize data value through financial services will be greatly narrowed, or basically blocked.</p><p>A senior researcher told the Caijing reporter that from the perspective of maintaining the large market mechanism, strengthening anti-monopoly is intended to maintain the normal operation of the market mechanism, which is the top level. The regulatory authorities emphasize financial compliance operations, licensed operations, serving entities, inclusive services, and financial consumers, effectively protecting consumers' rights and interests, and protecting information security. These all belong to the broad category of behavioral supervision, which reflects the continuous improvement of behavioral supervision as a \"double pillar\", which is also consistent with international experience. Enterprises must adapt to this regulatory climate.</p><p>At the same time, the construction of China's Internet financial credit information system is crucial. Recently, Zhu Peiqing, who works for Chifeng Central Sub-branch of the People's Bank of China, and Yang Lijuan, who works for Keshiketeng Banner Sub-branch of the People's Bank of China, jointly wrote an article suggesting improving the personal privacy protection system.</p><p>First, improve relevant legal provisions. Formulate a practical Personal Information Protection Law to clarify the scope of personal information.</p><p>Second, take effective actions. Enterprises should carry out Internet credit reporting activities in strict accordance with the management requirements of the Regulations on the Administration of Credit Information Industry, and at the same time further strengthen the ability of big data to collect and supervise the use of credit information, so as to provide strong support for the collection of credit information of big data. Under the guidance of relevant laws and regulations, strengthen the punishment of dishonesty of untrustworthy people. If there is any serious dishonesty, they should be investigated for corresponding legal responsibilities.</p><p>The third is to strengthen the supervision and management of credit information to ensure the safety of credit information. Relevant departments should take active and effective measures to establish Internet financial supervision and Internet credit information collection databases. Only by strengthening credit information security management and establishing multi-channel personal information protection mechanisms can we effectively prevent credit risks and provide a comprehensive guarantee for the data security of Internet credit information collection.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/cebxAK_g6AAo_Q2xvclvpA\">《财经》</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5a36a344ea9cacb03addddd87ef31cbe","relate_stocks":{"000001.SH":"上证指数"},"source_url":"https://mp.weixin.qq.com/s/cebxAK_g6AAo_Q2xvclvpA","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188969765","content_text":"文／张威\n《财经》记者从多方信源获悉，人民银行征信管理局于近日给网络平台机构下发通知，要求网络平台实现个人信息与金融机构的全面“断直连”。\n这一要求并非新的指令，而是前期整改要求中的应有之义。\n2021年4月29日，人民银行、银保监会、证监会、外汇局等金融管理部门（以下简称金融管理部门）联合对13家从事金融业务的网络平台企业进行监管约谈。约谈主要的原因在于，这些网络平台普遍存在无牌或超许可范围从事金融业务、公司治理机制不健全、监管套利、不公平竞争、损害消费者合法权益等严重违规问题。\n针对当前网络平台企业从事金融业务中普遍存在的突出问题，金融监管部门提出了七大整改要求，其中一项便是打破信息垄断，严格通过持牌征信机构依法合规开展个人征信业务。\n按照这项整改要求，网络平台在与金融机构开展引流、助贷、联合贷等业务合作中，将个人主动提交的信息、平台内产生的信息或从外部获取的信息以申请信息、身份信息、基础信息、个人画像评分信息等名义直接向金融机构提供，须实现个人信息与金融机构的全面“断直连”。\n据《财经》记者了解，上述各机构已于2021年6月30日前完成初步整改方案。央行征信管理局之所以再次发布通知，叫停网络平台个人信息与金融机构的直连行为，源于上述一些机构的整改方案中依然存在直接为金融机构提供个人信息的情况。\n一位垄断话题领域的专家向《财经》记者表示，网络平台将个人数据与金融产品结合，国内互金发展就是这么简单的逻辑。现在的模式下等于所有的APP都在做个人征信业务，严格说其实是不合规的。“当然，这与中国征信业滞后也有一定的关系，使得互联网企业有了套利空间，此外，与中国中小微企业和个人金融业务本身滞后也有关。”\n一位金融行业资深分析师向《财经》记者表示，这些平台的产品有一个共同特点，就是以支付为基础，通过支付业务去收集数据，然后再在支付的基础上去叠加更高层次的金融产品的推广。它的好处大家都能看到，它是现代商业的基础，能够促进数字化转型，甚至带动实体行业发展，但其中也存在一些问题，比如杠杆率的问题，用户数据采集的问题，进而产生“二选一”竞争等，它慢慢形成了一种垄断生态。这样对用户权益保护，甚至整个经济发展都存在危害。\n上述垄断话题领域的专家表示，如果政策执行到位，对各类手机APP将数据价值通过金融业务变现的路子大大收窄，或者说基本堵上了。\n一位资深研究者向《财经》记者表示，从大的市场机制维护方面，强化反垄断意在维护市场机制的正常运转，这是最顶层的。监管部门强调金融合规经营，持牌经营，服务实体、服务普惠、服务金融消费者，切实保障消费者权益、保护信息安全等。这些都属于广义的行为监管范畴，体现了行为监管作为“双支柱”地位的持续提升，这也与国际经验相符，企业要适应这一监管气候。\n与此同时，中国互联网金融征信体系建设工作至关重要。近日，供职于中国人民银行赤峰市中心支行的朱沛庆，与供职于中国人民银行克什克腾旗支行的杨丽娟联名撰文建议健全个人隐私权益保护制度。\n第一，完善相关法律条款。制定切实可行的《个人信息保护法》，明确个人信息的范畴。\n第二，采取切实有效的行动。企业应严格按照《征信业管理条例》的管理要求，开展互联网征信活动，同时进一步加强大数据的信用信息收集和使用监督能力，为大数据的信用信息收集提供有力支持。并在相关法律法规的指导下，加强失信人失信惩处力度，如有严重失信行为，应追究其相应的法律责任。\n三是加强信用信息的监督管理，确保信用信息的安全。有关部门应当采取积极有效的措施，着力建立互联网金融监管和互联网信用信息收集数据库，通过加强信用信息安全管理，建立多条渠道的个人信息保护机制，才能在有效防止信用风险发生的同时，提供互联网信用信息收集数据安全的全面保障。","news_type":1,"symbols_score_info":{"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":2438,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143015124,"gmtCreate":1625752437668,"gmtModify":1703747845670,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087693924266930","authorIdStr":"4087693924266930"},"themes":[],"htmlText":"wa","listText":"wa","text":"wa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/143015124","repostId":"2149347182","repostType":4,"isVote":1,"tweetType":1,"viewCount":960,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":157927987,"gmtCreate":1625560928649,"gmtModify":1703743756244,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087693924266930","authorIdStr":"4087693924266930"},"themes":[],"htmlText":"omg","listText":"omg","text":"omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/157927987","repostId":"2149590433","repostType":2,"repost":{"id":"2149590433","kind":"news","pubTimestamp":1625560020,"share":"https://ttm.financial/m/news/2149590433?lang=en_US&edition=fundamental","pubTime":"2021-07-06 16:27","market":"fut","language":"zh","title":"Chinese concept stocks generally fell before the market: Didi's decline expanded to 30%! Will the US stock S&P 500 index set a new record today?","url":"https://stock-news.laohu8.com/highlight/detail?id=2149590433","media":"FX168","summary":"FX168财经报社(香港)讯 周二(7月6日)，滴滴美股盘前跌幅扩大至30%。此前，国家网信办要求应用商店下架“滴滴出行”App，并认真整改存在的问题。Uber盘前跌超2%，Uber为滴滴的第二大股东。\n　　此外，满帮盘前跌近...","content":"<p><html><body><div><div>FX168 Financial News (Hong Kong) News Tuesday (July 6),<a href=\"https://laohu8.com/S/DIDI\">Didi</a>The pre-market decline of U.S. stocks expanded to 30%. Previously, the National Network Information Office required the App store to remove the \"Didi Chuxing\" App and seriously rectify the existing problems. Uber fell more than 2% before the market, and Uber is Didi's second largest shareholder.</p><p><img height=\"576\" oldsrc=\"W020210706591999481766.png\" src=\"https://www.fx168.com/usstock/2107/W020210706591999481766.png\" width=\"600\"/></p><p>Furthermore,<a href=\"https://laohu8.com/S/YMM\">Manbang</a>It fell nearly 16% before the market,<a href=\"https://laohu8.com/S/BZ\">BOSS Direct Recruitment</a>It fell more than 7% before the market, after the National Cyberspace Administration of China launched a network security review of \"Yunmanman\", \"Truck Gang\" and \"BOSS Zhipin\".</p><p><strong>Chinese concept stocks fell across the board before the market:<a href=\"https://laohu8.com/S/ZH\">Zhihu</a>Down 6.64%,<a href=\"https://laohu8.com/S/TIGR\">Tiger Securities</a>Down 3.83%,<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>Down 3.27%,<a href=\"https://laohu8.com/S/HUYA\">Tiger Tooth</a>、<a href=\"https://laohu8.com/S/DOYU\">Betta fish</a>Down about 3%,<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>、<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Fell more than 2%. Douyu's pre-market decline in U.S. stocks expanded to more than 10%.</strong></p><p>On Monday, due to the Independence Day holiday, the U.S. stock market was closed. business insider wrote that after hitting record highs for seven consecutive days, the U.S. stock market will continue to rise, but investor optimism is still suppressed.</p><p>The S&P 500 closed at its seventh consecutive all-time high on Friday, just a stone's throw away from breaking its record of eight consecutive new highs.</p><p>But investors don't seem to care, as various sentiment indicators show no signs of optimism in the stock market. This dynamic sets the stage for further gains in the stock market ahead, as there is plenty of room for investors to get excited about the stock market before reaching levels of greed and fanaticism.</p><p>\"It's a little boring. But you can't sell when the market is bad.\"<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>Summarized the market's steady gains over the past week in a note on Friday.</p><p>Investor sentiment tends to follow price changes, finding \"greed\" or \"excitement\" near the market peak and \"fear\" near the market sell-off bottom. This dynamic is precisely why these metrics are seen as contrarian investments, as it is often beneficial to take the opposite view of sentiment data.</p><p>At a time when stocks are at record highs, there are no optimistic signs that there is further upside as the market continues to climb the wall of concern and win over unbelieving investors.</p><p>Sentiment indicators that show no signs of excitement or greed among investors include CNN's Fear and Greed Index, Bank of America's Bull/Bear Indicator, and the AAII Investor Sentiment Survey.</p><p>CNN's Fear and Greed Index remains below 50 and has been in the \"neutral\" territory for the past month. The index closed at 46 points last Friday, just slightly higher than last week's \"fear\" index of 44 points.</p><p>The index had an \"extreme greed\" reading of 99 in January 2020, just before the fastest bear market in history, and reached an \"extreme fear\" reading of 1 near the pandemic bottom in March 2020, giving it credibility as a contrarian indicator.</p><p><span lang=\"EN-US\"><img height=\"319\" oldsrc=\"W020210706591999645741.png\" src=\"https://www.fx168.com/usstock/2107/W020210706591999645741.png\" width=\"600\"/></span></p><p>Meanwhile, Bank of America's bull/bear index has continued to fall in recent weeks, falling to 6.4 from a February cycle high of 7.7. Once the indicator breaks through 8, a reverse \"sell\" reading occurs, indicating that there is still plenty of room for investors to be bullish on the stock market.</p><p><span lang=\"EN-US\"><img height=\"608\" oldsrc=\"W020210706591999807607.png\" src=\"https://www.fx168.com/usstock/2107/W020210706591999807607.png\" width=\"600\"/></span></p><p>Finally, the optimism index of the AAII Investor Sentiment Survey rose to 48.6% this week. While the survey shows a rise in bullish sentiment, well above the historical average of 38%, it is still below the April high of 52.7%, suggesting there is still room for bullish sentiment to rise.</p><p><span lang=\"EN-US\"><img height=\"215\" oldsrc=\"W020210706591999979433.png\" src=\"https://www.fx168.com/usstock/2107/W020210706591999979433.png\" width=\"600\"/></span></p><p>On the stock market front, however, investors have little to worry about. Rising inflation, rising interest rates and possible tax hikes are threats to markets this year, and uncertainty over second-quarter results may also weigh on investors.</p><p>But historically, when the stock market reaches all-time highs, investors are so pessimistic about the market that it is usually a firm contrarian indicator to buy stocks.</p><p></div><div><div><ul><li>US Stock Market</li><li>China</li><li>S&P 500</li></ul></div><div><div><div>share</div><div><div></div></div></div><div></div></div></div></div></body></html></p>","source":"fxdaily_fut","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>Chinese concept stocks generally fell before the market: Didi's decline expanded to 30%! Will the US stock S&P 500 index set a new record today?</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\">\nChinese concept stocks generally fell before the market: Didi's decline expanded to 30%! Will the US stock S&P 500 index set a new record today?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">FX168</strong><span class=\"h-time small\">2021-07-06 16:27</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><body><div><div>FX168 Financial News (Hong Kong) News Tuesday (July 6),<a href=\"https://laohu8.com/S/DIDI\">Didi</a>The pre-market decline of U.S. stocks expanded to 30%. Previously, the National Network Information Office required the App store to remove the \"Didi Chuxing\" App and seriously rectify the existing problems. Uber fell more than 2% before the market, and Uber is Didi's second largest shareholder.</p><p><img height=\"576\" oldsrc=\"W020210706591999481766.png\" src=\"https://www.fx168.com/usstock/2107/W020210706591999481766.png\" width=\"600\"/></p><p>Furthermore,<a href=\"https://laohu8.com/S/YMM\">Manbang</a>It fell nearly 16% before the market,<a href=\"https://laohu8.com/S/BZ\">BOSS Direct Recruitment</a>It fell more than 7% before the market, after the National Cyberspace Administration of China launched a network security review of \"Yunmanman\", \"Truck Gang\" and \"BOSS Zhipin\".</p><p><strong>Chinese concept stocks fell across the board before the market:<a href=\"https://laohu8.com/S/ZH\">Zhihu</a>Down 6.64%,<a href=\"https://laohu8.com/S/TIGR\">Tiger Securities</a>Down 3.83%,<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>Down 3.27%,<a href=\"https://laohu8.com/S/HUYA\">Tiger Tooth</a>、<a href=\"https://laohu8.com/S/DOYU\">Betta fish</a>Down about 3%,<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>、<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Fell more than 2%. Douyu's pre-market decline in U.S. stocks expanded to more than 10%.</strong></p><p>On Monday, due to the Independence Day holiday, the U.S. stock market was closed. business insider wrote that after hitting record highs for seven consecutive days, the U.S. stock market will continue to rise, but investor optimism is still suppressed.</p><p>The S&P 500 closed at its seventh consecutive all-time high on Friday, just a stone's throw away from breaking its record of eight consecutive new highs.</p><p>But investors don't seem to care, as various sentiment indicators show no signs of optimism in the stock market. This dynamic sets the stage for further gains in the stock market ahead, as there is plenty of room for investors to get excited about the stock market before reaching levels of greed and fanaticism.</p><p>\"It's a little boring. But you can't sell when the market is bad.\"<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>Summarized the market's steady gains over the past week in a note on Friday.</p><p>Investor sentiment tends to follow price changes, finding \"greed\" or \"excitement\" near the market peak and \"fear\" near the market sell-off bottom. This dynamic is precisely why these metrics are seen as contrarian investments, as it is often beneficial to take the opposite view of sentiment data.</p><p>At a time when stocks are at record highs, there are no optimistic signs that there is further upside as the market continues to climb the wall of concern and win over unbelieving investors.</p><p>Sentiment indicators that show no signs of excitement or greed among investors include CNN's Fear and Greed Index, Bank of America's Bull/Bear Indicator, and the AAII Investor Sentiment Survey.</p><p>CNN's Fear and Greed Index remains below 50 and has been in the \"neutral\" territory for the past month. The index closed at 46 points last Friday, just slightly higher than last week's \"fear\" index of 44 points.</p><p>The index had an \"extreme greed\" reading of 99 in January 2020, just before the fastest bear market in history, and reached an \"extreme fear\" reading of 1 near the pandemic bottom in March 2020, giving it credibility as a contrarian indicator.</p><p><span lang=\"EN-US\"><img height=\"319\" oldsrc=\"W020210706591999645741.png\" src=\"https://www.fx168.com/usstock/2107/W020210706591999645741.png\" width=\"600\"/></span></p><p>Meanwhile, Bank of America's bull/bear index has continued to fall in recent weeks, falling to 6.4 from a February cycle high of 7.7. Once the indicator breaks through 8, a reverse \"sell\" reading occurs, indicating that there is still plenty of room for investors to be bullish on the stock market.</p><p><span lang=\"EN-US\"><img height=\"608\" oldsrc=\"W020210706591999807607.png\" src=\"https://www.fx168.com/usstock/2107/W020210706591999807607.png\" width=\"600\"/></span></p><p>Finally, the optimism index of the AAII Investor Sentiment Survey rose to 48.6% this week. While the survey shows a rise in bullish sentiment, well above the historical average of 38%, it is still below the April high of 52.7%, suggesting there is still room for bullish sentiment to rise.</p><p><span lang=\"EN-US\"><img height=\"215\" oldsrc=\"W020210706591999979433.png\" src=\"https://www.fx168.com/usstock/2107/W020210706591999979433.png\" width=\"600\"/></span></p><p>On the stock market front, however, investors have little to worry about. Rising inflation, rising interest rates and possible tax hikes are threats to markets this year, and uncertainty over second-quarter results may also weigh on investors.</p><p>But historically, when the stock market reaches all-time highs, investors are so pessimistic about the market that it is usually a firm contrarian indicator to buy stocks.</p><p></div><div><div><ul><li>US Stock Market</li><li>China</li><li>S&P 500</li></ul></div><div><div><div>share</div><div><div></div></div></div><div></div></div></div></div></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.fx168.com/usstock/2107/5173217.shtml\">FX168</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://www.fx168.com/usstock/2107/W020210706592006787620.jpg","relate_stocks":{"161125":"标普500","513500":"标普500ETF","OEF":"标普100指数ETF-iShares","SDS":"两倍做空标普500 ETF-ProShares","OEX":"标普100","DIDI":"滴滴(已退市)","UPRO":"三倍做多标普500ETF-ProShares","QNETCN":"纳斯达克中美互联网老虎指数","SH":"做空标普500-Proshares","SPXU":"三倍做空标普500ETF-ProShares",".SPX":"S&P 500 Index","SPY":"标普500ETF","IVV":"标普500ETF-iShares","SSO":"2倍做多标普500ETF-ProShares","TTTN":"老虎中美互联网巨头ETF"},"source_url":"https://www.fx168.com/usstock/2107/5173217.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2149590433","content_text":"FX168财经报社(香港)讯 周二(7月6日)，滴滴美股盘前跌幅扩大至30%。此前，国家网信办要求应用商店下架“滴滴出行”App，并认真整改存在的问题。Uber盘前跌超2%，Uber为滴滴的第二大股东。此外，满帮盘前跌近16%，BOSS直聘盘前跌逾7%，此前国家网信办对“运满满”“货车帮”“BOSS直聘”启动网络安全审查。中概股盘前全线下跌：知乎跌6.64%，老虎证券跌3.83%，哔哩哔哩跌3.27%，虎牙、斗鱼跌约3%，百度、理想汽车跌超2%。斗鱼美股盘前跌幅扩大至逾10%。周一由于独立日假期，美股休市，business insider撰文指出，在连续7天创历史新高后，美国股市还将继续上涨，但是投资者的乐观情绪仍受到抑制。标普500指数上周五连续第七次收于历史高位，距离打破连续八次收于新高的纪录仅咫尺之遥。但投资者似乎并不在意，因为各种情绪指标都没有显示出股市出现乐观迹象。这种动态为股市未来的进一步上涨奠定了基础，因为在达到贪婪和狂热的水平之前，投资者还有足够的空间对股市感到兴奋。“有点无聊。但你不能在市场不景气的时候卖。”美国银行在周五的一份报告中总结了过去一周市场的稳步上涨。投资者情绪往往跟随价格变化，在接近市场峰值的地方发现了“贪婪”或“兴奋”，在接近市场抛售底部的地方发现了“恐惧”。这种动态正是这些指标被视为反向投资的原因，因为与人气数据持相反观点往往是有好处的。在股市处于创纪录高位之际，没有任何乐观迹象表明，随着市场继续攀上担忧之墙，并赢得不相信的投资者，股市还有进一步上行空间。在投资者中没有显示出兴奋或贪婪的迹象的情绪指标包括CNN的恐惧和贪婪指数，美国银行的牛市/熊市指标，以及AAII投资者情绪调查。CNN的恐惧和贪婪指数仍然低于50，在过去的一个月里一直处于“中性”区域。该指数上周五收于46点，仅略高于上周的“恐惧”指数44点。该指数在2020年1月的“极度贪婪”读数为99，正好在历史上最快的熊市之前，并在2020年3月的大流行谷底附近达到了“极度恐惧”读数1，这为其作为反向指标提供了可信度。与此同时，美国银行的牛市/熊市指数最近几周持续下跌，从2月份的周期高点7.7降至6.4。一旦该指标突破8点，就会出现反向“卖出”读数，表明投资者仍有足够的空间看涨股市。最后，本周美国个人投资者信心调查(AAII Investor Sentiment Survey)的乐观指数升至48.6%。虽然调查显示，看涨情绪有所上升，远高于38%的历史平均水平，但仍低于4月份52.7%的高点，表明看涨情绪仍有上升空间。然而，在股市方面，投资者并没有什么可担心的。通胀上升、利率上升和可能的增税是今年市场面临的威胁，第二季度业绩的不确定性也可能令投资者承压。但从历史上看，当股市达到历史高点时，投资者对市场的态度如此悲观，通常是一个坚定的反向指标来购买股票。\n\n\n\n\n\n                                                    美国股市\n                                                \n\n\n\n                                                    中国\n                                                \n\n\n\n                                                    标普500\n                                                \n\n\n\n\n\n分享","news_type":1,"symbols_score_info":{"161125":0.6,"513500":0.6,"ESmain":1,".SPX":0.6,"UPRO":0.6,"SPXU":0.6,"SPY":1,"OEF":0.6,"QNETCN":1,"SSO":0.6,"IVV":0.6,"DIDI":1,"SH":0.6,"OEX":0.6,"SDS":0.6,"TTTN":1}},"isVote":1,"tweetType":1,"viewCount":665,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":157922303,"gmtCreate":1625560821602,"gmtModify":1703743752929,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087693924266930","authorIdStr":"4087693924266930"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/157922303","repostId":"1136888008","repostType":4,"repost":{"id":"1136888008","kind":"news","pubTimestamp":1625557917,"share":"https://ttm.financial/m/news/1136888008?lang=en_US&edition=fundamental","pubTime":"2021-07-06 15:51","market":"us","language":"zh","title":"How to understand the recent trend of the US dollar and US Treasury yields?","url":"https://stock-news.laohu8.com/highlight/detail?id=1136888008","media":"川阅全球宏观","summary":"近期海外市场的走势有些令人困惑。尤其是美国6月非农就业数据公布后，尽管85万的新增就业创下10个月来的新高，但在这一超预期的数据发布后，10年期美债利率和美元指数双双走低，并没有兑现这一经济基本面的利","content":"<p><b>The recent trend of overseas markets is somewhat confusing.</b>Especially after the release of the U.S. non-farm payrolls data in June, although 850,000 new jobs hit a 10-month high, after the release of this unexpected data, the 10-year US Treasury yields and the US Dollar Index both fell, which did not fulfill the benefits of this economic fundamentals (Figure 1). Looking at the longer history,<b>The US Dollar Index did rebound after the Fed's June interest rate meeting, but 10-year US Treasury yields has been fluctuating at low levels</b>。 So, what kind of market expectations do the performances of the two reflect?</p><p><img src=\"https://static.tigerbbs.com/47b991b73fd62448d3a904cf0aeb53d5\" tg-width=\"1080\" tg-height=\"623\" referrerpolicy=\"no-referrer\"></p><p><b>The recent rebound of the US dollar mainly reflects the hawkish turn of the Federal Reserve's monetary policy, but why didn't the unexpected non-farm employment in June help it rebound further? We think the problem is that this data does not convince the Fed that taper or rate hike can come sooner.</b>For example, Federal Reserve Vice Chairman Clarida has previously stated that \"the three-month moving average of more than 500,000 new jobs is a necessary condition for public discussion of taper.\" Although non-farm employment increased by 850,000 in June, due to the sluggish data in April, The three-month moving average is only 558,000, only slightly higher than the 500,000 threshold. At the same time, unemployment data did not improve due to employment growth,<b>The unemployment rate indicator favored by Yellen and Powell remained at a high of 8.6% in June without falling (Figure 2).</b></p><p><img src=\"https://static.tigerbbs.com/77db93955cc03acf55d2be3b2e265920\" tg-width=\"1080\" tg-height=\"613\" referrerpolicy=\"no-referrer\"></p><p><b>The recent downturn in US Treasury yields has its own special reasons. First, the cash balance of the Ministry of Finance has declined.</b>Since there is no early agreement on the debt ceiling,<b>The U.S. Treasury must reduce its cash balance in its deposit account (TGA) with the Federal Reserve by $400 billion to achieve its target level at the end of July, which means that a large amount of liquidity will still be released into financial markets in the short term,</b>It will inevitably increase the allocation demand of financial institutions for U.S. bonds, thereby lowering the long-term yield of U.S. bonds (Figure 3).</p><p><img src=\"https://static.tigerbbs.com/b75c25c4fa2128d3045ce2e15ec76dd8\" tg-width=\"1080\" tg-height=\"613\" referrerpolicy=\"no-referrer\"></p><p><b>In addition, more importantly, the economic differentiation between the United States and Europe is likely to intensify.</b>The recent spread of the new crown variant strain Delta has intensified the differentiation of anti-epidemic effectiveness in the United States and Europe (Figure 4). About 40% of the population in Europe has received at least one dose of COVID-19 vaccine, while nearly 55% in the United States. Under the protection of vaccines, the transmission rate of Delta in the United States is generally lower than that in European countries (Figure 5). Therefore, in the short term, the recovery of the European economy is bound to be more vulnerable to Delta than that of the United States, especially considering that the restart of the European economy is inherently weaker than that of the United States. Therefore,<b>Against the background of intensified economic differentiation between the United States and Europe, the return of safe-haven funds to the United States will also bring downward pressure to US Treasury yields</b>For example, the net inflow of overseas funds into U.S. debt has been increasing since mid-June.</p><p><img src=\"https://static.tigerbbs.com/e2e276bc9d000988594b6b6c0687347c\" tg-width=\"1080\" tg-height=\"629\" referrerpolicy=\"no-referrer\"></p><p><img src=\"https://static.tigerbbs.com/555c44b9bfa065ef9262d1f35b3d590c\" tg-width=\"1080\" tg-height=\"622\" referrerpolicy=\"no-referrer\"></p><p><b>The differentiation of the U.S. and European economies, coupled with the fact that the Federal Reserve is returning to the normalization of monetary policy faster than the European Central Bank, is undoubtedly good for the U.S. dollar.</b>Therefore, we believe that there is still some appreciation pressure on the US dollar in the third quarter; At the same time, considering the weak upward trend of the above-mentioned US Treasury yields, U.S. growth stocks are expected to outperform value stocks again.</p><p><b>Risk warning:</b>The spread of the new crown mutant strain is out of control, and the Fed tightens monetary policy too quickly</p>","source":"lsy1582083733592","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>How to understand the recent trend of the US dollar and US Treasury yields?</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\">\nHow to understand the recent trend of the US dollar and US Treasury yields?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">川阅全球宏观</strong><span class=\"h-time small\">2021-07-06 15:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>The recent trend of overseas markets is somewhat confusing.</b>Especially after the release of the U.S. non-farm payrolls data in June, although 850,000 new jobs hit a 10-month high, after the release of this unexpected data, the 10-year US Treasury yields and the US Dollar Index both fell, which did not fulfill the benefits of this economic fundamentals (Figure 1). Looking at the longer history,<b>The US Dollar Index did rebound after the Fed's June interest rate meeting, but 10-year US Treasury yields has been fluctuating at low levels</b>。 So, what kind of market expectations do the performances of the two reflect?</p><p><img src=\"https://static.tigerbbs.com/47b991b73fd62448d3a904cf0aeb53d5\" tg-width=\"1080\" tg-height=\"623\" referrerpolicy=\"no-referrer\"></p><p><b>The recent rebound of the US dollar mainly reflects the hawkish turn of the Federal Reserve's monetary policy, but why didn't the unexpected non-farm employment in June help it rebound further? We think the problem is that this data does not convince the Fed that taper or rate hike can come sooner.</b>For example, Federal Reserve Vice Chairman Clarida has previously stated that \"the three-month moving average of more than 500,000 new jobs is a necessary condition for public discussion of taper.\" Although non-farm employment increased by 850,000 in June, due to the sluggish data in April, The three-month moving average is only 558,000, only slightly higher than the 500,000 threshold. At the same time, unemployment data did not improve due to employment growth,<b>The unemployment rate indicator favored by Yellen and Powell remained at a high of 8.6% in June without falling (Figure 2).</b></p><p><img src=\"https://static.tigerbbs.com/77db93955cc03acf55d2be3b2e265920\" tg-width=\"1080\" tg-height=\"613\" referrerpolicy=\"no-referrer\"></p><p><b>The recent downturn in US Treasury yields has its own special reasons. First, the cash balance of the Ministry of Finance has declined.</b>Since there is no early agreement on the debt ceiling,<b>The U.S. Treasury must reduce its cash balance in its deposit account (TGA) with the Federal Reserve by $400 billion to achieve its target level at the end of July, which means that a large amount of liquidity will still be released into financial markets in the short term,</b>It will inevitably increase the allocation demand of financial institutions for U.S. bonds, thereby lowering the long-term yield of U.S. bonds (Figure 3).</p><p><img src=\"https://static.tigerbbs.com/b75c25c4fa2128d3045ce2e15ec76dd8\" tg-width=\"1080\" tg-height=\"613\" referrerpolicy=\"no-referrer\"></p><p><b>In addition, more importantly, the economic differentiation between the United States and Europe is likely to intensify.</b>The recent spread of the new crown variant strain Delta has intensified the differentiation of anti-epidemic effectiveness in the United States and Europe (Figure 4). About 40% of the population in Europe has received at least one dose of COVID-19 vaccine, while nearly 55% in the United States. Under the protection of vaccines, the transmission rate of Delta in the United States is generally lower than that in European countries (Figure 5). Therefore, in the short term, the recovery of the European economy is bound to be more vulnerable to Delta than that of the United States, especially considering that the restart of the European economy is inherently weaker than that of the United States. Therefore,<b>Against the background of intensified economic differentiation between the United States and Europe, the return of safe-haven funds to the United States will also bring downward pressure to US Treasury yields</b>For example, the net inflow of overseas funds into U.S. debt has been increasing since mid-June.</p><p><img src=\"https://static.tigerbbs.com/e2e276bc9d000988594b6b6c0687347c\" tg-width=\"1080\" tg-height=\"629\" referrerpolicy=\"no-referrer\"></p><p><img src=\"https://static.tigerbbs.com/555c44b9bfa065ef9262d1f35b3d590c\" tg-width=\"1080\" tg-height=\"622\" referrerpolicy=\"no-referrer\"></p><p><b>The differentiation of the U.S. and European economies, coupled with the fact that the Federal Reserve is returning to the normalization of monetary policy faster than the European Central Bank, is undoubtedly good for the U.S. dollar.</b>Therefore, we believe that there is still some appreciation pressure on the US dollar in the third quarter; At the same time, considering the weak upward trend of the above-mentioned US Treasury yields, U.S. growth stocks are expected to outperform value stocks again.</p><p><b>Risk warning:</b>The spread of the new crown mutant strain is out of control, and the Fed tightens monetary policy too quickly</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/1y6Dabkb7sIfQ2Cq2sji9A\">川阅全球宏观</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b7b3d8419226ca1736f51b68871dc645","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://mp.weixin.qq.com/s/1y6Dabkb7sIfQ2Cq2sji9A","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136888008","content_text":"近期海外市场的走势有些令人困惑。尤其是美国6月非农就业数据公布后，尽管85万的新增就业创下10个月来的新高，但在这一超预期的数据发布后，10年期美债利率和美元指数双双走低，并没有兑现这一经济基本面的利好（图1）。往稍长一些的历史来看，美元指数确实在美联储6月议息后有所反弹，但10年期美债利率一直在低位震荡。那么，两者的表现究竟反映了怎样的市场预期？\n\n近期美元的反弹主要反映了美联储货币政策的转鹰，但为何超预期的6月非农就业没有助其进一步反弹？我们认为问题在于这一数据并不能让美联储确信taper或加息可以更快的到来。比如此前美联储副主席Clarida已经表示“3个月移动平均的新增就业在50万以上是公开讨论taper的必要条件”，6月非农就业虽然大增85万，但由于4月数据的低迷，3个月移动平均下来仅为55.8万，仅略高于50万的门槛。同时，失业数据并没有因就业增长而改善，耶伦和鲍威尔所青睐的失业率指标在6月依然保持在8.6%的高位没有下降（图2）。\n\n近期美债利率的下行则有其特殊的原因，一是财政部现金余额的下降。由于没有提前达成债务上限的协议，美国财政部必须将其在美联储的存款账户（TGA）的现金余额减少4000亿美元，以实现其7月底的目标水平，这意味着短期内仍将向金融市场释放大量的流动性，必然增加金融机构对美债的配置需求，从而拉低美债的长端收益率（图3）。\n\n另外也是更重要的一点，即美欧经济分化有可能加剧。近期新冠变种毒株Delta的传播加剧了美欧抗疫成效的分化（图4）。欧洲至少接种一剂新冠疫苗的人口占比约为40%，而美国近55%，疫苗的保护下Delta在美国的传播率普遍低于欧洲国家（图5）。因此短期内欧洲经济的恢复势必比美国更易受Delta冲击，尤其是考虑到欧洲经济的重启力度本来就弱于美国。因此，在美欧经济分化加剧的背景下，避险资金回流美国也将给美债利率带来下行压力，比如6月中旬以来海外资金对于美债的净流入一直在增加。\n\n\n美欧经济的分化，叠加美联储正比欧央行更快地回归货币政策正常化，无疑对美元构成利好。因此，我们认为三季度美元仍存在一定的升值压力；同时，考虑到上述美债利率的上行乏力，美股成长股有望再度跑赢价值股。\n风险提示：新冠变异毒株传播失控，美联储过快收紧货币政策","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":723,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155224906,"gmtCreate":1625441603205,"gmtModify":1703741618201,"author":{"id":"4087693924266930","authorId":"4087693924266930","name":"ipc2006","avatar":"https://static.tigerbbs.com/cf0d042b38ce7de19820aaf0a3820e36","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087693924266930","authorIdStr":"4087693924266930"},"themes":[],"htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/155224906","repostId":"2148874200","repostType":4,"isVote":1,"tweetType":1,"viewCount":644,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}