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BraydenChin

BraydenChin

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2021-08-21

Please like, thx

Penny Stocks: Why You Should Always Stay Away<blockquote>细价股：为什么你应该永远远离</blockquote>

2021-07-25

Like and comment please, thank you

Will NIO Stock Follow Tesla's Footsteps? What To Consider Between These Two EV Stocks<blockquote>蔚来股票会追随特斯拉的脚步吗？这两只电动汽车股票之间需要考虑什么</blockquote>

2021-08-10

It will continue to go up with the increasing momentum on bitcoin.

Coinbase shares rose 5.6% in early trading.<blockquote>Coinbase股价早盘上涨5.6%。</blockquote>

2021-03-23

Rise like Rocket, plunge like Meteor

Reddit Stocks are plunged again.<blockquote>Reddit股票再次暴跌。</blockquote>

2021-05-19

What is this dropping?

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2021-06-02

Nice article and very informative

Stocks rise slightly as S&P 500 inches toward new record<blockquote>随着标普500逼近新纪录，股市小幅上涨</blockquote>

2021-05-14

Self supply battery is a good move, can lower the cost of the car.

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2021-06-25

Good result. Continue to grow and create new high!👍

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2021-06-24

To grow even bigger.

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2021-05-21

Very detailed and nice thesis. Thanks for the sharing! awesome 👍

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like, thx","listText":"Please like, thx","text":"Please like, thx","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":17,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/832077961","repostId":"1172699620","repostType":4,"repost":{"id":"1172699620","kind":"news","pubTimestamp":1629450202,"share":"https://www.laohu8.com/m/news/1172699620?lang=zh_CN&edition=full","pubTime":"2021-08-20 17:03","market":"us","language":"en","title":"Penny Stocks: Why You Should Always Stay Away<blockquote>细价股：为什么你应该永远远离</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1172699620","media":"Kiplinger","summary":"Penny stocks – those stocks that trade for low prices, often with share prices of less than a dollar","content":"<p>Penny stocks – those stocks that trade for low prices, often with share prices of less than a dollar per share – are dangerous. Period. Indeed, with a few exceptions, investors should steer clear of these uber-cheap stocks, which typically trade over-the-counter and not on a major exchange.</p><p><blockquote>细价股——那些低价交易的股票，通常每股股价不到一美元——是危险的。周期。事实上，除了少数例外，投资者应该避开这些超便宜的股票，这些股票通常在场外交易，而不是在主要交易所交易。</blockquote></p><p> Call them penny stocks, microcaps or OTC stocks; by any name, they’re bad news. Promises of quick and easy riches are easier to fall for when an investment can be made with so little money up front. An investor might think, \"How risky could it be?\"</p><p><blockquote>看涨期权他们细价股、微型股或场外交易股票；不管叫什么名字，都是坏消息。当前期投入如此之少的资金就可以进行投资时，快速轻松致富的承诺更容易上当。投资者可能会想，“风险有多大？”</blockquote></p><p> Plenty. Per the Securities and Exchange Commission: “Academic studies find that OTC stocks tend to be highly illiquid; are frequent targets of alleged market manipulation; generate negative and volatile investment returns on average; and rarely grow into a large company or transition to listing on a stock exchange.”</p><p><blockquote>大量。根据美国证券交易委员会的说法：“学术研究发现，场外交易股票往往流动性极差；经常成为涉嫌市场操纵的目标；平均产生负面且不稳定的投资回报；并且很少成长为大公司或过渡到在证券交易所上市。”</blockquote></p><p> We’ll break down what all that means below, but suffice to say, the SEC is not a fan.</p><p><blockquote>我们将在下面详细说明这一切的含义，但我只想说，SEC并不热衷于此。</blockquote></p><p> <h3><b>Why Penny Stocks Are So Dangerous</b></h3> To be clear, this is not to say that every penny stock or OTC company is a scam. The danger is that the over-the-counter market is where the scam stocks live. Think of it as a bad neighborhood. Being there can make you a mark for a con.</p><p><blockquote><h3><b>为什么细价股如此危险</b></h3>需要明确的是，这并不是说每个细价股或场外交易公司都是骗局。危险在于，场外市场是骗局股票的生存之地。把它想象成一个糟糕的社区。在那里会让你成为骗子的标志。</blockquote></p><p> For some background, the OTC market is different from exchanges like the New York Stock Exchange or Nasdaq, where trading is centralized. There is no one OTC exchange. Instead, the OTC connects buyers and sellers over a computer- and telephone-based system. Any stock that does not trade on the NYSE, Nasdaq or other established U.S. exchange can trade over-the-counter. These securities also are known as “unlisted stocks.”</p><p><blockquote>在某些背景下，场外交易市场不同于纽约证券交易所或纳斯达克等交易集中的交易所。没有一个OTC交易所。相反，场外交易通过基于计算机和电话的系统将买家和卖家联系起来。任何不在纽约证券交易所、纳斯达克或其他美国成熟交易所交易的股票都可以进行场外交易。这些证券也被称为“非上市股票”。</blockquote></p><p> Typically, OTC stocks tend to be highly risky microcap stocks (the shares of small companies with market capitalizations of under $300 million), which include nanocap stocks (those with market values of under $50 million).</p><p><blockquote>通常，场外交易股票往往是高风险的微型股（市值低于3亿美元的小公司股票），其中包括纳米股（市值低于5000万美元的股票）。</blockquote></p><p> The SEC has long warned investors about the high risks associated with such stocks. The Financial Industry Regulatory Authority (FINRA), the industry’s self-regulatory agency, likewise waves a red flag over the buying and trading of OTC securities.</p><p><blockquote>美国证券交易委员会长期以来一直警告投资者此类股票的高风险。该行业的自律机构金融业监管局（FINRA）同样对场外证券的购买和交易发出了危险信号。</blockquote></p><p> That’s because companies that list on the OTC aren’t required to file periodic or audited financial reports as they must do if they are listed on a major exchange, such as the NYSE or the Nasdaq. In other words, there’s no way to know if they’re telling the truth when they claim to have sales and profits. The major exchanges also have listing requirements; OTC stocks don’t. For example, a company must have at least 400 shareholders and a market value of at least $40 million to get a listing on the New York Stock Exchange. The OTC makes no such requirements.</p><p><blockquote>这是因为在场外交易市场上市的公司不需要像在纽约证券交易所或纳斯达克等主要交易所上市的公司那样提交定期或经审计的财务报告。换句话说，当他们声称有销售额和利润时，没有办法知道他们是否在说实话。各大交易所也有上市要求；场外交易股票则不然。例如，一家公司必须拥有至少400名股东且市值至少4000万美元才能在纽约证券交易所上市。OTC没有这样的要求。</blockquote></p><p> Put it all together, and it makes it easier for unscrupulous managers to lie about their business prospects or commit securities fraud.</p><p><blockquote>综上所述，这使得无良的管理者更容易谎报业务前景或实施证券欺诈。</blockquote></p><p> But that’s not all. The shares that exchange hands on the OTC tend to be “illiquid,” meaning they often trade in low volumes and have a limited number of buyers and sellers. That can make it difficult or impossible for investors to buy or sell shares at the prices they want.</p><p><blockquote>但这还不是全部。在场外交易的股票往往“缺乏流动性”，这意味着它们的交易量通常很低，买家和卖家数量有限。这可能会使投资者很难或不可能以他们想要的价格买卖股票。</blockquote></p><p> That lack of liquidity also makes many OTC stocks the perfect vehicle for “pump-and-dump” schemes where stock promoters lure investors to buy shares, increasing the stock price. Then, when the price gets high enough, the pumper sells his shares, causing the stock to fall and leaving investors with poor returns, or even losses. Anyone here see&nbsp;<i>The Wolf of Wall Street</i>?</p><p><blockquote>流动性的缺乏也使许多场外交易股票成为“拉高抛售”计划的完美工具，即股票发起人引诱投资者购买股票，从而提高股价。然后，当价格足够高时，抽水者出售他的股票，导致股票下跌，给投资者留下糟糕的回报，甚至亏损。这里有人看到了吗<i>华尔街之狼</i>？</blockquote></p><p> To protect investors from falling for these schemes, the SEC suspended trading of more than 800 microcap stocks – more than 8% of the OTC market – between 2012 and 2015. Once a stock has been suspended from trading, it cannot be relisted unless the company provides updated financial information to prove it’s actually operational. Since that rarely happens, trading suspensions essentially render the shares useless to scam artists.</p><p><blockquote>为了保护投资者不上当受骗，SEC在2012年至2015年间暂停了800多只微型股（占场外交易市场的8%以上）的交易。股票一旦暂停交易，就不能重新上市，除非公司提供最新的财务信息来证明其实际运营。由于这种情况很少发生，交易暂停基本上使股票对诈骗艺术家毫无用处。</blockquote></p><p> <h3><b>Legitimate OTCs</b></h3> Be that as it may, there is one segment of the OTC market that investors need not fear.</p><p><blockquote><h3><b>合法OTC</b></h3>尽管如此，场外交易市场的一部分投资者不必担心。</blockquote></p><p> Amidst the riff-raff, some of the biggest, most respected foreign companies in the world list their U.S. shares over-the-counter instead of on the major U.S. exchanges. Here, you’ll find shares of&nbsp;<b>The <a href=\"https://laohu8.com/S/IDCBY\">Industrial and Commercial Bank of China Ltd.</a></b>&nbsp;(IDCBY), which happens to be the biggest bank in the world. You also can buy shares of Switzerland’s<b>Nestlé</b>(NSRGY), the largest food company in the world; China’s&nbsp;<b><a href=\"https://laohu8.com/S/TCEHY\">Tencent Holding Ltd.</a></b>&nbsp;(TCEHY), one of the country’s largest internet service providers; and Japanese gaming giant&nbsp;<b><a href=\"https://laohu8.com/S/NTDOY\">Nintendo Co., Ltd.</a> </b>(NTDOY).</p><p><blockquote>在混混中，一些世界上最大、最受尊敬的外国公司将其美国股票在场外交易而不是在美国主要交易所上市。在这里，您可以找到<b>The<a href=\"https://laohu8.com/S/IDCBY\">中国工商银行。</a></b>（IDCBY），恰好是世界上最大的银行。您还可以购买瑞士的股票<b>雀巢</b>（NSRGY），全球最大的食品公司；中国的<b><a href=\"https://laohu8.com/S/TCEHY\">腾讯控股控股有限公司。</a></b>(TCEHY)，该国最大的互联网服务提供商之一；和日本游戏巨头<b><a href=\"https://laohu8.com/S/NTDOY\">任天堂有限公司。</a></b>（NTDOY）。</blockquote></p><p> Why would major, international publicly traded companies rub shoulders with firms that issue highly speculative penny stocks?</p><p><blockquote>为什么大型国际上市公司会与发行高度投机性细价股的公司合作？</blockquote></p><p></p><p> The reason has to do with cost and convenience. For example, a foreign firm listing on the NYSE or Nasdaq must prepare two sets of audited financial statements for everything it does – one to conform with international accounting standards, and another that adheres to the generally accepted accounting principles (GAAP) used in the U.S. That isn’t a requirement over-the-counter.</p><p><blockquote>原因与成本和便利性有关。例如，在纽约证券交易所或纳斯达克上市的外国公司必须为其所做的一切准备两套经审计的财务报表——一套符合国际会计准则，另一套符合公认会计原则(GAAP)在美国，这不是非处方药的要求。</blockquote></p><p> With an OTC listing, a foreign company gains access to the vast pool of U.S. equity investors at a fraction of the cost and effort.</p><p><blockquote>通过场外交易上市，外国公司可以以很低的成本和精力接触到庞大的美国股票投资者。</blockquote></p><p> The bottom line is that with the exception of large, established foreign firms, OTC stocks come with too many risks. It’s not possible for the average investor to know if the company is on the up and up. And even legitimate tiny companies can fail virtually overnight. The pitfalls of trading OTC stocks just aren’t worth it.</p><p><blockquote>最重要的是，除了大型老牌外国公司，场外交易股票风险太大。普通投资者不可能知道公司是否在上升。即使是合法的小公司也可能在一夜之间倒闭。场外交易股票的陷阱根本不值得。</blockquote></p><p> It’s easy enough to lose money investing in stocks. Why make it easier?</p><p><blockquote>投资股票很容易赔钱。为什么要让它更容易？</blockquote></p><p></p>","source":"lsy1629449927514","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>Penny Stocks: Why You Should Always Stay Away<blockquote>细价股：为什么你应该永远远离</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPenny Stocks: Why You Should Always Stay Away<blockquote>细价股：为什么你应该永远远离</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Kiplinger</strong><span class=\"h-time small\">2021-08-20 17:03</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Penny stocks – those stocks that trade for low prices, often with share prices of less than a dollar per share – are dangerous. Period. Indeed, with a few exceptions, investors should steer clear of these uber-cheap stocks, which typically trade over-the-counter and not on a major exchange.</p><p><blockquote>细价股——那些低价交易的股票，通常每股股价不到一美元——是危险的。周期。事实上，除了少数例外，投资者应该避开这些超便宜的股票，这些股票通常在场外交易，而不是在主要交易所交易。</blockquote></p><p> Call them penny stocks, microcaps or OTC stocks; by any name, they’re bad news. Promises of quick and easy riches are easier to fall for when an investment can be made with so little money up front. An investor might think, \"How risky could it be?\"</p><p><blockquote>看涨期权他们细价股、微型股或场外交易股票；不管叫什么名字，都是坏消息。当前期投入如此之少的资金就可以进行投资时，快速轻松致富的承诺更容易上当。投资者可能会想，“风险有多大？”</blockquote></p><p> Plenty. Per the Securities and Exchange Commission: “Academic studies find that OTC stocks tend to be highly illiquid; are frequent targets of alleged market manipulation; generate negative and volatile investment returns on average; and rarely grow into a large company or transition to listing on a stock exchange.”</p><p><blockquote>大量。根据美国证券交易委员会的说法：“学术研究发现，场外交易股票往往流动性极差；经常成为涉嫌市场操纵的目标；平均产生负面且不稳定的投资回报；并且很少成长为大公司或过渡到在证券交易所上市。”</blockquote></p><p> We’ll break down what all that means below, but suffice to say, the SEC is not a fan.</p><p><blockquote>我们将在下面详细说明这一切的含义，但我只想说，SEC并不热衷于此。</blockquote></p><p> <h3><b>Why Penny Stocks Are So Dangerous</b></h3> To be clear, this is not to say that every penny stock or OTC company is a scam. The danger is that the over-the-counter market is where the scam stocks live. Think of it as a bad neighborhood. Being there can make you a mark for a con.</p><p><blockquote><h3><b>为什么细价股如此危险</b></h3>需要明确的是，这并不是说每个细价股或场外交易公司都是骗局。危险在于，场外市场是骗局股票的生存之地。把它想象成一个糟糕的社区。在那里会让你成为骗子的标志。</blockquote></p><p> For some background, the OTC market is different from exchanges like the New York Stock Exchange or Nasdaq, where trading is centralized. There is no one OTC exchange. Instead, the OTC connects buyers and sellers over a computer- and telephone-based system. Any stock that does not trade on the NYSE, Nasdaq or other established U.S. exchange can trade over-the-counter. These securities also are known as “unlisted stocks.”</p><p><blockquote>在某些背景下，场外交易市场不同于纽约证券交易所或纳斯达克等交易集中的交易所。没有一个OTC交易所。相反，场外交易通过基于计算机和电话的系统将买家和卖家联系起来。任何不在纽约证券交易所、纳斯达克或其他美国成熟交易所交易的股票都可以进行场外交易。这些证券也被称为“非上市股票”。</blockquote></p><p> Typically, OTC stocks tend to be highly risky microcap stocks (the shares of small companies with market capitalizations of under $300 million), which include nanocap stocks (those with market values of under $50 million).</p><p><blockquote>通常，场外交易股票往往是高风险的微型股（市值低于3亿美元的小公司股票），其中包括纳米股（市值低于5000万美元的股票）。</blockquote></p><p> The SEC has long warned investors about the high risks associated with such stocks. The Financial Industry Regulatory Authority (FINRA), the industry’s self-regulatory agency, likewise waves a red flag over the buying and trading of OTC securities.</p><p><blockquote>美国证券交易委员会长期以来一直警告投资者此类股票的高风险。该行业的自律机构金融业监管局（FINRA）同样对场外证券的购买和交易发出了危险信号。</blockquote></p><p> That’s because companies that list on the OTC aren’t required to file periodic or audited financial reports as they must do if they are listed on a major exchange, such as the NYSE or the Nasdaq. In other words, there’s no way to know if they’re telling the truth when they claim to have sales and profits. The major exchanges also have listing requirements; OTC stocks don’t. For example, a company must have at least 400 shareholders and a market value of at least $40 million to get a listing on the New York Stock Exchange. The OTC makes no such requirements.</p><p><blockquote>这是因为在场外交易市场上市的公司不需要像在纽约证券交易所或纳斯达克等主要交易所上市的公司那样提交定期或经审计的财务报告。换句话说，当他们声称有销售额和利润时，没有办法知道他们是否在说实话。各大交易所也有上市要求；场外交易股票则不然。例如，一家公司必须拥有至少400名股东且市值至少4000万美元才能在纽约证券交易所上市。OTC没有这样的要求。</blockquote></p><p> Put it all together, and it makes it easier for unscrupulous managers to lie about their business prospects or commit securities fraud.</p><p><blockquote>综上所述，这使得无良的管理者更容易谎报业务前景或实施证券欺诈。</blockquote></p><p> But that’s not all. The shares that exchange hands on the OTC tend to be “illiquid,” meaning they often trade in low volumes and have a limited number of buyers and sellers. That can make it difficult or impossible for investors to buy or sell shares at the prices they want.</p><p><blockquote>但这还不是全部。在场外交易的股票往往“缺乏流动性”，这意味着它们的交易量通常很低，买家和卖家数量有限。这可能会使投资者很难或不可能以他们想要的价格买卖股票。</blockquote></p><p> That lack of liquidity also makes many OTC stocks the perfect vehicle for “pump-and-dump” schemes where stock promoters lure investors to buy shares, increasing the stock price. Then, when the price gets high enough, the pumper sells his shares, causing the stock to fall and leaving investors with poor returns, or even losses. Anyone here see&nbsp;<i>The Wolf of Wall Street</i>?</p><p><blockquote>流动性的缺乏也使许多场外交易股票成为“拉高抛售”计划的完美工具，即股票发起人引诱投资者购买股票，从而提高股价。然后，当价格足够高时，抽水者出售他的股票，导致股票下跌，给投资者留下糟糕的回报，甚至亏损。这里有人看到了吗<i>华尔街之狼</i>？</blockquote></p><p> To protect investors from falling for these schemes, the SEC suspended trading of more than 800 microcap stocks – more than 8% of the OTC market – between 2012 and 2015. Once a stock has been suspended from trading, it cannot be relisted unless the company provides updated financial information to prove it’s actually operational. Since that rarely happens, trading suspensions essentially render the shares useless to scam artists.</p><p><blockquote>为了保护投资者不上当受骗，SEC在2012年至2015年间暂停了800多只微型股（占场外交易市场的8%以上）的交易。股票一旦暂停交易，就不能重新上市，除非公司提供最新的财务信息来证明其实际运营。由于这种情况很少发生，交易暂停基本上使股票对诈骗艺术家毫无用处。</blockquote></p><p> <h3><b>Legitimate OTCs</b></h3> Be that as it may, there is one segment of the OTC market that investors need not fear.</p><p><blockquote><h3><b>合法OTC</b></h3>尽管如此，场外交易市场的一部分投资者不必担心。</blockquote></p><p> Amidst the riff-raff, some of the biggest, most respected foreign companies in the world list their U.S. shares over-the-counter instead of on the major U.S. exchanges. Here, you’ll find shares of&nbsp;<b>The <a href=\"https://laohu8.com/S/IDCBY\">Industrial and Commercial Bank of China Ltd.</a></b>&nbsp;(IDCBY), which happens to be the biggest bank in the world. You also can buy shares of Switzerland’s<b>Nestlé</b>(NSRGY), the largest food company in the world; China’s&nbsp;<b><a href=\"https://laohu8.com/S/TCEHY\">Tencent Holding Ltd.</a></b>&nbsp;(TCEHY), one of the country’s largest internet service providers; and Japanese gaming giant&nbsp;<b><a href=\"https://laohu8.com/S/NTDOY\">Nintendo Co., Ltd.</a> </b>(NTDOY).</p><p><blockquote>在混混中，一些世界上最大、最受尊敬的外国公司将其美国股票在场外交易而不是在美国主要交易所上市。在这里，您可以找到<b>The<a href=\"https://laohu8.com/S/IDCBY\">中国工商银行。</a></b>（IDCBY），恰好是世界上最大的银行。您还可以购买瑞士的股票<b>雀巢</b>（NSRGY），全球最大的食品公司；中国的<b><a href=\"https://laohu8.com/S/TCEHY\">腾讯控股控股有限公司。</a></b>(TCEHY)，该国最大的互联网服务提供商之一；和日本游戏巨头<b><a href=\"https://laohu8.com/S/NTDOY\">任天堂有限公司。</a></b>（NTDOY）。</blockquote></p><p> Why would major, international publicly traded companies rub shoulders with firms that issue highly speculative penny stocks?</p><p><blockquote>为什么大型国际上市公司会与发行高度投机性细价股的公司合作？</blockquote></p><p></p><p> The reason has to do with cost and convenience. For example, a foreign firm listing on the NYSE or Nasdaq must prepare two sets of audited financial statements for everything it does – one to conform with international accounting standards, and another that adheres to the generally accepted accounting principles (GAAP) used in the U.S. That isn’t a requirement over-the-counter.</p><p><blockquote>原因与成本和便利性有关。例如，在纽约证券交易所或纳斯达克上市的外国公司必须为其所做的一切准备两套经审计的财务报表——一套符合国际会计准则，另一套符合公认会计原则(GAAP)在美国，这不是非处方药的要求。</blockquote></p><p> With an OTC listing, a foreign company gains access to the vast pool of U.S. equity investors at a fraction of the cost and effort.</p><p><blockquote>通过场外交易上市，外国公司可以以很低的成本和精力接触到庞大的美国股票投资者。</blockquote></p><p> The bottom line is that with the exception of large, established foreign firms, OTC stocks come with too many risks. It’s not possible for the average investor to know if the company is on the up and up. And even legitimate tiny companies can fail virtually overnight. The pitfalls of trading OTC stocks just aren’t worth it.</p><p><blockquote>最重要的是，除了大型老牌外国公司，场外交易股票风险太大。普通投资者不可能知道公司是否在上升。即使是合法的小公司也可能在一夜之间倒闭。场外交易股票的陷阱根本不值得。</blockquote></p><p> It’s easy enough to lose money investing in stocks. Why make it easier?</p><p><blockquote>投资股票很容易赔钱。为什么要让它更容易？</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.kiplinger.com/investing/603303/penny-stocks-always-stay-away\">Kiplinger</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IDCBY":"工商银行ADR","TCEHY":"腾讯控股ADR","NTDOY":"任天堂"},"source_url":"https://www.kiplinger.com/investing/603303/penny-stocks-always-stay-away","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172699620","content_text":"Penny stocks – those stocks that trade for low prices, often with share prices of less than a dollar per share – are dangerous. Period. Indeed, with a few exceptions, investors should steer clear of these uber-cheap stocks, which typically trade over-the-counter and not on a major exchange.\nCall them penny stocks, microcaps or OTC stocks; by any name, they’re bad news. Promises of quick and easy riches are easier to fall for when an investment can be made with so little money up front. An investor might think, \"How risky could it be?\"\nPlenty. Per the Securities and Exchange Commission: “Academic studies find that OTC stocks tend to be highly illiquid; are frequent targets of alleged market manipulation; generate negative and volatile investment returns on average; and rarely grow into a large company or transition to listing on a stock exchange.”\nWe’ll break down what all that means below, but suffice to say, the SEC is not a fan.\nWhy Penny Stocks Are So Dangerous\nTo be clear, this is not to say that every penny stock or OTC company is a scam. The danger is that the over-the-counter market is where the scam stocks live. Think of it as a bad neighborhood. Being there can make you a mark for a con.\nFor some background, the OTC market is different from exchanges like the New York Stock Exchange or Nasdaq, where trading is centralized. There is no one OTC exchange. Instead, the OTC connects buyers and sellers over a computer- and telephone-based system. Any stock that does not trade on the NYSE, Nasdaq or other established U.S. exchange can trade over-the-counter. These securities also are known as “unlisted stocks.”\nTypically, OTC stocks tend to be highly risky microcap stocks (the shares of small companies with market capitalizations of under $300 million), which include nanocap stocks (those with market values of under $50 million).\nThe SEC has long warned investors about the high risks associated with such stocks. The Financial Industry Regulatory Authority (FINRA), the industry’s self-regulatory agency, likewise waves a red flag over the buying and trading of OTC securities.\nThat’s because companies that list on the OTC aren’t required to file periodic or audited financial reports as they must do if they are listed on a major exchange, such as the NYSE or the Nasdaq. In other words, there’s no way to know if they’re telling the truth when they claim to have sales and profits. The major exchanges also have listing requirements; OTC stocks don’t. For example, a company must have at least 400 shareholders and a market value of at least $40 million to get a listing on the New York Stock Exchange. The OTC makes no such requirements.\nPut it all together, and it makes it easier for unscrupulous managers to lie about their business prospects or commit securities fraud.\nBut that’s not all. The shares that exchange hands on the OTC tend to be “illiquid,” meaning they often trade in low volumes and have a limited number of buyers and sellers. That can make it difficult or impossible for investors to buy or sell shares at the prices they want.\nThat lack of liquidity also makes many OTC stocks the perfect vehicle for “pump-and-dump” schemes where stock promoters lure investors to buy shares, increasing the stock price. Then, when the price gets high enough, the pumper sells his shares, causing the stock to fall and leaving investors with poor returns, or even losses. Anyone here see The Wolf of Wall Street?\nTo protect investors from falling for these schemes, the SEC suspended trading of more than 800 microcap stocks – more than 8% of the OTC market – between 2012 and 2015. Once a stock has been suspended from trading, it cannot be relisted unless the company provides updated financial information to prove it’s actually operational. Since that rarely happens, trading suspensions essentially render the shares useless to scam artists.\nLegitimate OTCs\nBe that as it may, there is one segment of the OTC market that investors need not fear.\nAmidst the riff-raff, some of the biggest, most respected foreign companies in the world list their U.S. shares over-the-counter instead of on the major U.S. exchanges. Here, you’ll find shares of The Industrial and Commercial Bank of China Ltd. (IDCBY), which happens to be the biggest bank in the world. You also can buy shares of Switzerland’sNestlé(NSRGY), the largest food company in the world; China’s Tencent Holding Ltd. (TCEHY), one of the country’s largest internet service providers; and Japanese gaming giant Nintendo Co., Ltd. (NTDOY).\nWhy would major, international publicly traded companies rub shoulders with firms that issue highly speculative penny stocks?\nThe reason has to do with cost and convenience. For example, a foreign firm listing on the NYSE or Nasdaq must prepare two sets of audited financial statements for everything it does – one to conform with international accounting standards, and another that adheres to the generally accepted accounting principles (GAAP) used in the U.S. That isn’t a requirement over-the-counter.\nWith an OTC listing, a foreign company gains access to the vast pool of U.S. equity investors at a fraction of the cost and effort.\nThe bottom line is that with the exception of large, established foreign firms, OTC stocks come with too many risks. It’s not possible for the average investor to know if the company is on the up and up. And even legitimate tiny companies can fail virtually overnight. The pitfalls of trading OTC stocks just aren’t worth it.\nIt’s easy enough to lose money investing in stocks. Why make it easier?","news_type":1,"symbols_score_info":{"IDCBY":0.9,"NTDOY":0.9,"TCEHY":0.9}},"isVote":1,"tweetType":1,"viewCount":3031,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":896977545,"gmtCreate":1628554154487,"gmtModify":1633746259435,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"It will continue to go up with the increasing momentum on bitcoin.","listText":"It will continue to go up with the increasing momentum on bitcoin.","text":"It will continue to go up with the increasing momentum on bitcoin.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":12,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/896977545","repostId":"1157080782","repostType":4,"repost":{"id":"1157080782","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1628517966,"share":"https://www.laohu8.com/m/news/1157080782?lang=zh_CN&edition=full","pubTime":"2021-08-09 22:06","market":"us","language":"en","title":"Coinbase shares rose 5.6% in early trading.<blockquote>Coinbase股价早盘上涨5.6%。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1157080782","media":"Tiger Newspress","summary":"Coinbase shares rose 5.6% in early trading.\nCoinbase’searnings report this week could be pivotal for","content":"<p>Coinbase&nbsp;shares&nbsp;rose&nbsp;5.6%&nbsp;in&nbsp;early&nbsp;trading.</p><p><blockquote>Coinbase股价早盘上涨5.</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e590996ee4976398d10812ffff6298d4\" tg-width=\"1293\" tg-height=\"678\" referrerpolicy=\"no-referrer\">Coinbase’searnings report this week could be pivotal for the stock, one trader says.</p><p><blockquote>一位交易员表示，比特币基地本周的收益报告可能对该股至关重要。</blockquote></p><p> Though shares of the cryptocurrency trading platform have fallen from their initial public offering price, “that negativity’s flushed out,” Blue Line Capital founder and President Bill Baruch told CNBC’s“Trading Nation”on Friday.</p><p><blockquote>Blue Line Capital创始人兼总裁比尔·巴鲁克(Bill Baruch)周五对CNBC的“Trading Nation”节目表示，尽管该加密货币交易平台的股价已较首次公开募股价格下跌，但“负面情绪已经消失”。</blockquote></p><p> “I think their user growth is going to exceed verified users of 60 million, and I think that’s going to be sort of a benchmark that they’re going to continue to feed on. Trading activity’s where they get paid as well. I think that’s going to pick up” even if major crypto assets such asbitcoinorethereumstruggle, he said.</p><p><blockquote>“我认为他们的用户增长将超过6000万经过验证的用户，我认为这将成为他们将继续依赖的一种基准。交易活动也是他们获得报酬的地方。我认为即使比特币或以太坊等主要加密资产陷入困境，这种情况也会回升”。</blockquote></p><p> That bodes well for Coinbase’s second-quarter report, scheduled for Tuesday afternoon, said Baruch, who owns bitcoin and ethereum.</p><p><blockquote>拥有比特币和以太币的巴鲁克表示，这对于定于周二下午发布的Coinbase第二季度报告来说是个好兆头。</blockquote></p><p> “There’s a good trend line support it’s coming off of and it’s broken out of a wedge of resistance,” he said. “I think this thing can go to 290-300 and I think earnings should be positive and the guidance should be good.”</p><p><blockquote>“它正在脱离一个良好的趋势线支撑，并且已经突破了楔形阻力，”他说。“我认为这件事可以达到290-300，我认为盈利应该是积极的，指导应该是好的。”</blockquote></p><p> Coinbase shares ended trading at $258.26 on Friday, up about 1%. They climbed an additional 3.8% to $268 in Monday’s premarket trading session. A run to $290 or $300 would be a 12-16% increase from Friday’s closing levels.</p><p><blockquote>Coinbase股价周五收于258.26美元，上涨约1%。周一盘前交易时段，股价又上涨3.8%，至268美元。如果升至290美元或300美元，将比周五收盘水平上涨12-16%。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coinbase shares rose 5.6% in early trading.<blockquote>Coinbase股价早盘上涨5.6%。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoinbase shares rose 5.6% in early trading.<blockquote>Coinbase股价早盘上涨5.6%。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-09 22:06</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Coinbase&nbsp;shares&nbsp;rose&nbsp;5.6%&nbsp;in&nbsp;early&nbsp;trading.</p><p><blockquote>Coinbase股价早盘上涨5.</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e590996ee4976398d10812ffff6298d4\" tg-width=\"1293\" tg-height=\"678\" referrerpolicy=\"no-referrer\">Coinbase’searnings report this week could be pivotal for the stock, one trader says.</p><p><blockquote>一位交易员表示，比特币基地本周的收益报告可能对该股至关重要。</blockquote></p><p> Though shares of the cryptocurrency trading platform have fallen from their initial public offering price, “that negativity’s flushed out,” Blue Line Capital founder and President Bill Baruch told CNBC’s“Trading Nation”on Friday.</p><p><blockquote>Blue Line Capital创始人兼总裁比尔·巴鲁克(Bill Baruch)周五对CNBC的“Trading Nation”节目表示，尽管该加密货币交易平台的股价已较首次公开募股价格下跌，但“负面情绪已经消失”。</blockquote></p><p> “I think their user growth is going to exceed verified users of 60 million, and I think that’s going to be sort of a benchmark that they’re going to continue to feed on. Trading activity’s where they get paid as well. I think that’s going to pick up” even if major crypto assets such asbitcoinorethereumstruggle, he said.</p><p><blockquote>“我认为他们的用户增长将超过6000万经过验证的用户，我认为这将成为他们将继续依赖的一种基准。交易活动也是他们获得报酬的地方。我认为即使比特币或以太坊等主要加密资产陷入困境，这种情况也会回升”。</blockquote></p><p> That bodes well for Coinbase’s second-quarter report, scheduled for Tuesday afternoon, said Baruch, who owns bitcoin and ethereum.</p><p><blockquote>拥有比特币和以太币的巴鲁克表示，这对于定于周二下午发布的Coinbase第二季度报告来说是个好兆头。</blockquote></p><p> “There’s a good trend line support it’s coming off of and it’s broken out of a wedge of resistance,” he said. “I think this thing can go to 290-300 and I think earnings should be positive and the guidance should be good.”</p><p><blockquote>“它正在脱离一个良好的趋势线支撑，并且已经突破了楔形阻力，”他说。“我认为这件事可以达到290-300，我认为盈利应该是积极的，指导应该是好的。”</blockquote></p><p> Coinbase shares ended trading at $258.26 on Friday, up about 1%. They climbed an additional 3.8% to $268 in Monday’s premarket trading session. A run to $290 or $300 would be a 12-16% increase from Friday’s closing levels.</p><p><blockquote>Coinbase股价周五收于258.26美元，上涨约1%。周一盘前交易时段，股价又上涨3.8%，至268美元。如果升至290美元或300美元，将比周五收盘水平上涨12-16%。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157080782","content_text":"Coinbase shares rose 5.6% in early trading.\nCoinbase’searnings report this week could be pivotal for the stock, one trader says.\nThough shares of the cryptocurrency trading platform have fallen from their initial public offering price, “that negativity’s flushed out,” Blue Line Capital founder and President Bill Baruch told CNBC’s“Trading Nation”on Friday.\n“I think their user growth is going to exceed verified users of 60 million, and I think that’s going to be sort of a benchmark that they’re going to continue to feed on. Trading activity’s where they get paid as well. I think that’s going to pick up” even if major crypto assets such asbitcoinorethereumstruggle, he said.\nThat bodes well for Coinbase’s second-quarter report, scheduled for Tuesday afternoon, said Baruch, who owns bitcoin and ethereum.\n“There’s a good trend line support it’s coming off of and it’s broken out of a wedge of resistance,” he said. “I think this thing can go to 290-300 and I think earnings should be positive and the guidance should be good.”\nCoinbase shares ended trading at $258.26 on Friday, up about 1%. They climbed an additional 3.8% to $268 in Monday’s premarket trading session. A run to $290 or $300 would be a 12-16% increase from Friday’s closing levels.","news_type":1,"symbols_score_info":{"COIN":0.9}},"isVote":1,"tweetType":1,"viewCount":3460,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808475241,"gmtCreate":1627608395283,"gmtModify":1633757831821,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"Solar industry will continue to grow in the years to come. 👍👍","listText":"Solar industry will continue to grow in the years to come. 👍👍","text":"Solar industry will continue to grow in the years to come. 👍👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/808475241","repostId":"2155184828","repostType":2,"repost":{"id":"2155184828","kind":"highlight","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1627592311,"share":"https://www.laohu8.com/m/news/2155184828?lang=zh_CN&edition=full","pubTime":"2021-07-30 04:58","market":"hk","language":"en","title":"First Solar Q2 EPS $0.77 Beats $0.64 Estimate, Sales $629.18M Beat $617.22M Estimate<blockquote>First Solar第二季度每股收益0.77美元，超出预期0.64美元，销售额6.2918亿美元，超出预期6.1722亿美元</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2155184828","media":"Benzinga","summary":"First Solar (NASDAQ:FSLR) reported quarterly earnings of $0.77 per share which beat the analyst consensus estimate of $0.64 by 20.31 percent. This is a 97.44 percent increase over earnings of $0.39 per share from the","content":"<p><html><body>First Solar (NASDAQ:FSLR) reported quarterly earnings of $0.77 per share which beat the analyst consensus estimate of $0.64 by 20.31 percent. This is a 97.44 percent increase over earnings of $0.39 per share from the same period last year.  The company reported quarterly sales of $629.18 million which beat the analyst consensus estimate of $617.22 million by 1.94 percent.  This is a 2.06 percent decrease over sales of $642.41 million the same period last year.</p><p><blockquote><html><body>First Solar（纳斯达克：FSLR）公布的季度收益为每股0.77美元，比分析师普遍预期的0.64美元高出20.31%。与去年同期每股收益0.39美元相比，增长了97.44%。该公司报告季度销售额为6.2918亿美元，比分析师普遍预期的6.1722亿美元高出1.94%。与去年同期6.4241亿美元的销售额相比，下降了2.06%。</body></html></blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>First Solar Q2 EPS $0.77 Beats $0.64 Estimate, Sales $629.18M Beat $617.22M Estimate<blockquote>First Solar第二季度每股收益0.77美元，超出预期0.64美元，销售额6.2918亿美元，超出预期6.1722亿美元</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFirst Solar Q2 EPS $0.77 Beats $0.64 Estimate, Sales $629.18M Beat $617.22M Estimate<blockquote>First Solar第二季度每股收益0.77美元，超出预期0.64美元，销售额6.2918亿美元，超出预期6.1722亿美元</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time smaller\">2021-07-30 04:58</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p><html><body>First Solar (NASDAQ:FSLR) reported quarterly earnings of $0.77 per share which beat the analyst consensus estimate of $0.64 by 20.31 percent. This is a 97.44 percent increase over earnings of $0.39 per share from the same period last year.  The company reported quarterly sales of $629.18 million which beat the analyst consensus estimate of $617.22 million by 1.94 percent.  This is a 2.06 percent decrease over sales of $642.41 million the same period last year.</p><p><blockquote><html><body>First Solar（纳斯达克：FSLR）公布的季度收益为每股0.77美元，比分析师普遍预期的0.64美元高出20.31%。与去年同期每股收益0.39美元相比，增长了97.44%。该公司报告季度销售额为6.2918亿美元，比分析师普遍预期的6.1722亿美元高出1.94%。与去年同期6.4241亿美元的销售额相比，下降了2.06%。</body></html></blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"FNLC":"第一万通金控","FSLR":"第一太阳能","THFF":"First Financial Corporation Indi","FBNC":"第一万能金控","FFBC":"第一金融银行股份","QTWO":"Q2 Holdings Inc"},"source_url":"https://www.benzinga.com/news/earnings/21/07/22236543/first-solar-q2-eps-0-77-beats-0-64-estimate-sales-629-18m-beat-617-22m-estimate","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2155184828","content_text":"First Solar (NASDAQ:FSLR) reported quarterly earnings of $0.77 per share which beat the analyst consensus estimate of $0.64 by 20.31 percent. This is a 97.44 percent increase over earnings of $0.39 per share from the same period last year.  The company reported quarterly sales of $629.18 million which beat the analyst consensus estimate of $617.22 million by 1.94 percent.  This is a 2.06 percent decrease over sales of $642.41 million the same period last year.","news_type":1,"symbols_score_info":{"THFF":1,"FBNC":1,"FFBC":1,"QTWO":1,"FNLC":1,"FSLR":1}},"isVote":1,"tweetType":1,"viewCount":3523,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177399759,"gmtCreate":1627179263471,"gmtModify":1633767438285,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"Like and comment please, thank you","listText":"Like and comment please, thank you","text":"Like and comment please, thank you","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/177399759","repostId":"1112927800","repostType":4,"repost":{"id":"1112927800","kind":"news","pubTimestamp":1627089375,"share":"https://www.laohu8.com/m/news/1112927800?lang=zh_CN&edition=full","pubTime":"2021-07-24 09:16","market":"us","language":"en","title":"Will NIO Stock Follow Tesla's Footsteps? What To Consider Between These Two EV Stocks<blockquote>蔚来股票会追随特斯拉的脚步吗？这两只电动汽车股票之间需要考虑什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1112927800","media":"seekingalpha","summary":"Let's take a look at how NIO compares to Tesla today, NIO's unique selling points, and the similarities between the two companies.NIO is a high-growth choice that does not seem overly expensive relative to how Tesla is valued.NIO is not a low-risk stock, however, and it may not be a good choice for everyone. Investors should also consider NIO's valuation versus legacy car companies.Both companies have benefitted from growing interest in EVs during 2020, a trend that saw share prices of most EV p","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Let's take a look at how NIO compares to Tesla today, NIO's unique selling points, and the similarities between the two companies.</li>  <li>NIO is a high-growth choice that does not seem overly expensive relative to how Tesla is valued.</li>  <li>NIO is not a low-risk stock, however, and it may not be a good choice for everyone. Investors should also consider NIO's valuation versus legacy car companies.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2f749c70c8a2af3e18d5f6cecc72bfbb\" tg-width=\"1536\" tg-height=\"704\" referrerpolicy=\"no-referrer\"><span>ipopba/iStock via Getty Images</span></p><p><blockquote><ul><li>让我们来看看今天的蔚来与特斯拉相比如何，蔚来的独特卖点，以及两家公司的相似之处。</li><li>蔚来是一个高增长的选择，相对于特斯拉的估值，它似乎并不太昂贵。</li><li>然而，蔚来并不是一只低风险股票，它可能并不是每个人的好选择。投资者还应该考虑蔚来与传统汽车公司的估值。</li></ul><p class=\"t-img-caption\"><span>ipopba/iStock来自Getty Images</span></p></blockquote></p><p> <b>Article Thesis</b></p><p><blockquote><b>文章论文</b></blockquote></p><p> NIO, Inc. (NIO) is one of China's leading EV players, and has, through an attractive brand and its unique BaaS offering, attracted a lot of interest from consumers and investors. Today, however, the company is still way smaller than Tesla (TSLA), which is currently leading the global EV market. NIO is focused on its home market right now, which was true when Tesla was a smaller company as well, but NIO will try to grab market share in overseas markets as well. Shares are pricing in a lot of growth already, but if NIO can replicate Tesla's success, that could be more than justified.</p><p><blockquote>蔚来公司（蔚来）是中国领先的电动汽车制造商之一，通过其有吸引力的品牌和独特的BaaS产品吸引了消费者和投资者的极大兴趣。然而，如今，该公司仍然比目前引领全球电动汽车市场的特斯拉（TSLA）小得多。蔚来目前专注于国内市场，当特斯拉还是一家较小的公司时也是如此，但蔚来也将试图在海外市场抢占市场份额。股价已经反映了很大的增长，但如果蔚来能够复制特斯拉的成功，这可能是非常合理的。</blockquote></p><p> <b>NIO And TSLA Stock Prices</b></p><p><blockquote><b>蔚来和特斯拉股价</b></blockquote></p><p> Both companies have benefitted from growing interest in EVs during 2020, a trend that saw share prices of most EV pureplays rise rapidly. The combination of growing market share for EVs, accommodating policies such as subsidies for EV purchases, and massive monetary stimulus let shares of NIO and TSLA rise rapidly. NIO is up 245% over the last year, while TSLA is up 101% over the same time. Both companies are currently trading below their all-time highs, however, which were hit in early 2021 before market sentiment for EV pureplays cooled to some degree.</p><p><blockquote>2020年，两家公司都受益于人们对电动汽车日益增长的兴趣，这一趋势导致大多数纯电动汽车公司的股价迅速上涨。电动汽车市场份额不断增长、电动汽车购买补贴等宽松政策以及大规模货币刺激措施相结合，让蔚来和特斯拉的股价迅速上涨。蔚来去年上涨了245%，而特斯拉同期上涨了101%。然而，两家公司目前的交易价格均低于2021年初创下的历史高点，随后纯电动汽车的市场情绪在一定程度上降温。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5ff5ce865807df85283775d2293b41af\" tg-width=\"635\" tg-height=\"481\" referrerpolicy=\"no-referrer\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Taking a quick look at analyst price targets, we see that Tesla is trading almost perfectly in line with the consensus, whereas NIO trades about 30% below the analyst target. If the analyst community is right, then NIO is a substantially better investment right here, as Tesla is not expected to see its shares rise meaningfully over the next year, whereas NIO has significant upside to the analyst price target.</p><p><blockquote>快速浏览一下分析师的目标价，我们发现特斯拉的交易价格几乎完全符合共识，而蔚来的交易价格比分析师目标低约30%。如果分析师界是正确的，那么蔚来是一项更好的投资，因为预计特斯拉的股价明年不会大幅上涨，而蔚来的股价较分析师目标价有显着上涨空间。</blockquote></p><p> <b>Is NIO Similar To Tesla?</b></p><p><blockquote><b>蔚来和特斯拉相似吗？</b></blockquote></p><p> The answer to that question depends on what you focus on. There are similarities between the two companies, but there are also differences. One could thus say that, in some ways, the two are similar, but in others, they are not. Let's look at a couple of things:</p><p><blockquote>这个问题的答案取决于你关注的是什么。两家公司有相似之处，但也有不同之处。因此，人们可以说，在某些方面，两者是相似的，但在另一些方面，它们不是。让我们看几件事：</blockquote></p><p> <b>Business Model</b></p><p><blockquote><b>商业模式</b></blockquote></p><p> Both companies are focused on the EV space, although Tesla has, over the years, been building out a couple of other businesses as well, such as energy storage. Most of Tesla's revenues are generated through selling electric vehicles, which is also how NIO operates. Both companies are focused on the premium segment of EVs, selling higher-priced vehicles that compete with brands such as BMW, Mercedes, and Lexus. Both companies offer a small range of different vehicles, in Tesla's case those are the well-known S, X, 3, and Y, whereas NIO offers a sedan (ET7), and three SUVs (EC6, ES6, ES8). Despite the fact that NIO is a way smaller company today, the model lineups of the two companies do thus not differ too much.</p><p><blockquote>两家公司都专注于电动汽车领域，尽管特斯拉多年来也在发展其他一些业务，例如储能。特斯拉的大部分收入来自销售电动汽车，这也是蔚来的运营方式。两家公司都专注于电动汽车的高端市场，销售价格较高的汽车，与宝马、梅赛德斯和雷克萨斯等品牌竞争。两家公司都提供少量不同的车辆，特斯拉是著名的S、X、3和Y，而蔚来则提供一款轿车(ET7)和三款SUV(EC6、ES6、ES8)。尽管蔚来如今是一家规模较小的公司，但两家公司的车型阵容并没有太大差异。</blockquote></p><p> Both companies offer some type of charging infrastructure to their customers, in Tesla's case, that's the Supercharger network, where Tesla owners can charge their cars with up to 250kW, depending on what version of Supercharger is installed. NIO is following a different approach, offering a battery-as-a-service solution to its customers. NIO owners can get their battery switched out to a fully-charged battery at NIO's stations, a process that takes a couple of minutes and is thus significantly quicker compared to the regular EV charging offered by Tesla and other EV players. BaaS thus has advantages when it comes to the time it takes for a charge/swap, but it should be noted that Tesla's Superchargers are way more common around the world compared to NIO's battery-swapping stations. Rolling out that feature in additional markets will require large capital expenditures, but NIO's offering is a unique selling point compared to what all other EV players, including Tesla, are offering. It remains to be seen whether that will ultimately pay off, but this could become a major advantage for NIO as competition in the EV space is heating up.</p><p><blockquote>两家公司都向客户提供某种类型的充电基础设施，就特斯拉而言，这就是Supercharger网络，特斯拉车主可以根据安装的Supercharger版本为汽车充电高达250kW。蔚来正在采取不同的方法，为客户提供电池即服务解决方案。蔚来车主可以在蔚来的充电站将电池更换为充满电的电池，这一过程需要几分钟，因此与特斯拉和其他电动汽车厂商提供的常规电动汽车充电相比要快得多。因此，BaaS在充电/交换所需时间方面具有优势，但应该指出的是，与蔚来的电池交换站相比，特斯拉的超级充电站在世界各地更为常见。在其他市场推出该功能将需要大量资本支出，但与包括特斯拉在内的所有其他电动汽车厂商相比，蔚来的产品是一个独特的卖点。这最终是否会得到回报还有待观察，但随着电动汽车领域的竞争加剧，这可能成为蔚来的一大优势。</blockquote></p><p> <b>Size, growth, and valuation</b></p><p><blockquote><b>规模、增长和估值</b></blockquote></p><p></p><p> The two companies differ significantly in size, both when it comes to revenues and vehicle sales, as well as when it comes to the market value of the two companies. NIO has delivered22,000 vehicles in Q2, up 112% year over year, for an annual pace of around 90,000 vehicles. Tesla, meanwhile, has delivered 201,000 vehicles during Q2, up from 103,000 vehicles delivered during Q2 2020. This is strong growth on a year-over-year basis, although slightly below 100%, and thus below the growth rate that NIO is generating for now.</p><p><blockquote>这两家公司的规模差异很大，无论是在收入和汽车销量方面，还是在两家公司的市值方面。蔚来第二季度交付了22,000辆汽车，同比增长112%，年增长率约为90,000辆。与此同时，特斯拉在第二季度交付了201,000辆汽车，高于2020年第二季度的103,000辆汽车。这是一个强劲的同比增长，尽管略低于100%，因此低于蔚来目前的增长率。</blockquote></p><p> Tesla delivers around 9x as many vehicles compared to NIO per quarter, when we look at the market capitalizations of the two companies, we see that the ratio is almost exactly the same, as Tesla's market cap of $640 billion is ~9x as high as that of NIO, at $72 billion. At similar growth rates, that would make perfect sense, but it looks like NIO might be the better deal for now, as it trades at a comparable valuation while generating better growth. This will be especially true in the coming quarters, where Tesla's growth is expected to slow down:</p><p><blockquote>与蔚来相比，特斯拉每季度交付的汽车数量约为9倍，当我们查看两家公司的市值时，我们发现这一比例几乎完全相同，因为特斯拉6400亿美元的市值约为9倍。蔚来的市值为720亿美元。在类似的增长率下，这是完全有道理的，但目前看来蔚来可能是更好的交易，因为它的估值相当，同时产生更好的增长。在未来几个季度尤其如此，预计特斯拉的增长将放缓：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a986ea65130206f99961a46ce6cfed55\" tg-width=\"635\" tg-height=\"515\" referrerpolicy=\"no-referrer\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Tesla is forecasted to grow its revenue from $49 billion in 2021 to $83 billion in 2023, for an annual growth rate of 30%. NIO, meanwhile, is expected to see its revenue explode upwards from $5.4 billion to $12.8 billion between 2021 and 2023, for an annual growth rate of 54%. NIO is thus expected to grow way faster than Tesla over the next two years, on a relative basis. This shouldn't be a surprise, to be honest, as the law of large numbers dictates that maintaining massive growth rates becomes increasingly hard for a company the bigger it gets, and Tesla seems to have hit that point by now -- adding 50%+ a year to its top line will not be possible forever. This isn't even necessarily Tesla's fault, in fact, many high-quality growth companies have experienced the same. But investors should still consider this important fact -- Tesla's growth in coming years will be less exciting compared to what we have seen in the past, and peers, such as NIO, are growing faster.</p><p><blockquote>特斯拉的收入预计将从2021年的490亿美元增长到2023年的830亿美元，年增长率为30%。与此同时，蔚来的收入预计将在2021年至2023年间从54亿美元猛增至128亿美元，年增长率为54%。因此，相对而言，预计未来两年蔚来的增长速度将远远快于特斯拉。老实说，这并不奇怪，因为大数定律表明，对于一家规模越大的公司来说，保持大幅增长率就变得越来越困难，而特斯拉现在似乎已经达到了这一点——每年增加50%以上的收入将永远不可能。这甚至不一定是特斯拉的错，事实上，许多优质成长型公司都经历过同样的事情。但投资者仍应考虑这一重要事实——与我们过去看到的相比，特斯拉未来几年的增长将不那么令人兴奋，而蔚来等同行的增长速度更快。</blockquote></p><p> The same holds true when we take a longer-term view. Revenue estimates for 2025 rest at$22.6 billionfor NIO, up another 80% from the 2023 estimate, and up 320% from what analysts are forecasting for 2021. Tesla, meanwhile, is forecasted to generate revenues of $122.5 billion in 2025 -- a large number, but up by a comparatively weak 48% from 2023, and up by a total of 150% versus 2021. Between 2021 and 2025, NIO will thus 4x its revenue, while Tesla will 2.5x its revenue in the same time span -- a meaningful difference that should, all else equal, allow for a premium valuation for NIO, in the same way Tesla deserves a premium valuation versus legacy players such as Volkswagen (OTCPK:VWAGY).</p><p><blockquote>当我们从长远来看时，情况也是如此。蔚来2025年的收入预期为226亿美元，比2023年的预期再增长80%，比分析师对2021年的预测增长320%。与此同时，特斯拉预计2025年的收入将达到1,225亿美元，这是一个很大的数字，但比2023年增长了48%，比2021年总共增长了150%。因此，在2021年至2025年间，蔚来的收入将增加4倍，而特斯拉的收入将在同一时期增加2.5倍——在其他条件相同的情况下，这是一个有意义的差异，应该允许蔚来获得溢价估值，就像特斯拉一样。与大众汽车（OTCPK：VWAGY）等传统企业相比，它值得获得溢价估值。</blockquote></p><p> Looking at revenue estimates for 2025 relative to how the two companies are valued today, we see that NIO trades at 3.2x 2025 sales, while the 2025 sales multiple for Tesla is 5.2. For a long-term oriented investor, NIO thus seems like the better value today, thanks to the fact that it is trading at a significantly lower sales multiple when we take a look into the future. This does not necessarily mean that NIO is cheap, however, as even a 3.2x 2025 sales multiple is relatively high compared to how legacy auto companies are valued. NIO is looking less expensive than Tesla, however, even if its shares are not cheap on an absolute basis.</p><p><blockquote>相对于两家公司目前的估值来看2025年的收入预期，我们发现蔚来的市盈率为2025年销售额的3.2倍，而特斯拉2025年的销售额倍数为5.2倍。因此，对于长期投资者来说，蔚来今天似乎更有价值，因为当我们展望未来时，它的销售倍数要低得多。然而，这并不一定意味着蔚来很便宜，因为与传统汽车公司的估值相比，即使2025年3.2倍的销售倍数也相对较高。然而，蔚来看起来比特斯拉便宜，尽管其股价绝对并不便宜。</blockquote></p><p> <b>Can NIO Be Worth As Much As Tesla?</b></p><p><blockquote><b>蔚来能和特斯拉一样值钱吗？</b></blockquote></p><p> The answer to that depends on what time frame you are looking at. Today, NIO is significantly smaller than Tesla and thus rightfully trades at a way smaller market cap. It should also be noted that there is no guarantee that Tesla's shares are a great example of how an EV company should be valued -- it is, at least, possible that its shares are significantly&nbsp;overpriced&nbsp;today, I personally believe that as well (Note that some will argue that shares are&nbsp;underpriced, which is also among the possibilities, although I do not hold that belief personally).</p><p><blockquote>这个问题的答案取决于你所关注的时间框架。如今，蔚来的规模明显小于特斯拉，因此其市值也相应地小得多。还应该指出的是，不能保证特斯拉的股票是电动汽车公司应该如何估值的一个很好的例子——至少，它的股票今天有可能被严重高估，我个人也相信这一点（请注意，有些人会认为股票定价过低，这也是一种可能性，尽管我个人并不持有这种信念）。</blockquote></p><p></p><p> When we do, for a moment, assume that Tesla is correctly valued today and that EV companies do deserve a market cap in the $600 billion range when they sell about 800,000 vehicles a year, then NIO could eventually hit that as well, although not in the near term. NIO will sell about 90,000 vehicles this year, and that amount should grow to about 400,000 in 2025. If NIO were to grow its sales by 15% a year beyond that point, it could sell around 800,000 cars in 2030, or 9 years from now. If one wants to assume faster growth, the 800,000 vehicles a year line could also be crossed before 2030, e.g. in 2028 or 2029. If we do go with 2030 for now, then NIO could, at a similar deliveries-to-market capitalization ratio to Tesla, be valued at $600+ billion in 2030. In other words, NIO could be worth as much as Tesla (today) in nine years, when we assume that current growth projections are realistic and that a Tesla-like valuation is appropriate. Those are two major ifs, of course, and especially the second point is far from certain, I believe. I personally would not be too surprised to see Tesla's valuation compress, and thus NIO could trade well below the $600 billion market cap level in 2030, even if it continues to grow meaningfully. It is also possible that NIO's growth disappoints and that current projections are too bullish, although I think that NIO is well-positioned for growth thanks to its unique BaaS model and its strong brand that is especially well-recognized in its home market.</p><p><blockquote>当我们暂时假设特斯拉今天的估值是正确的，并且电动汽车公司每年销售约80万辆汽车时确实应该获得6000亿美元的市值时，那么蔚来最终也可能达到这一目标，尽管不是在近期。蔚来今年将销售约9万辆汽车，2025年这一数字将增长至约40万辆。如果蔚来的销量在此之后每年增长15%，那么到2030年（即9年后），它可能会售出约80万辆汽车。如果想要更快的增长，也可以在2030年之前跨越每年80万辆汽车的界限，例如2028年或2029年。如果我们现在确实选择2030年，那么按照与特斯拉类似的交付量与市值比率，蔚来到2030年的估值可能会超过6000亿美元。换句话说，如果我们假设当前的增长预测是现实的，并且类似特斯拉的估值是合适的，那么九年后蔚来的价值可能会与特斯拉（今天）一样高。当然，这是两个主要的如果，尤其是第二点，我认为还远未确定。我个人不会对特斯拉的估值压缩感到太惊讶，因此蔚来的市值在2030年可能远低于6000亿美元的水平，即使它继续大幅增长。蔚来的增长也有可能令人失望，目前的预测过于乐观，尽管我认为蔚来凭借其独特的BaaS模式和在国内市场特别受认可的强大品牌，处于良好的增长地位。</blockquote></p><p> It should also be noted that Tesla's market cap in 2030 could be very different from $600 billion, thus even in case NIO hits that level, it is not at all guaranteed that the two companies will have a similar market cap. Tesla might be valued at a way higher valuation by then, e.g. if the ARK model is right (something I personally think is unlikely). To answer the above question, one could thus say that NIO might be worth hundreds of billions of dollars, like Tesla, in 8-10 years, but that is not at all guaranteed. And even if that were to happen, Tesla might be worth significantly more by then.</p><p><blockquote>还应该指出的是，特斯拉2030年的市值可能与6000亿美元有很大不同，因此即使蔚来达到这一水平，也不能保证两家公司的市值会相似。到那时，特斯拉的估值可能会高得多，例如如果方舟模型是正确的（我个人认为不太可能）。为了回答上述问题，人们可以说，蔚来可能在8-10年内像特斯拉一样价值数千亿美元，但这根本不能保证。即使这种情况发生，到那时特斯拉的价值也可能会高得多。</blockquote></p><p> <b>Is NIO A Good Stock To Buy Or Sell Now?</b></p><p><blockquote><b>蔚来现在是买入或卖出的好股票吗？</b></blockquote></p><p> When considering NIO as an investment, it doesn't really matter all that much whether it will become as large or highly valued as Tesla eventually. Instead, investors should ask themselves what total returns they can expect over the next couple of years, and whether those expected returns are high enough relative to the risks in NIO's business model. Regarding those risks, one should mention the fact that the company isn't profitable yet, which means that NIO is dependent on cash on its balance sheet for growth investments. On top of that, competition in the EV space is growing, and market share battles could pressure margins in coming years, although NIO seems relatively well-positioned thanks to its battery-swapping, which is, I believe, a strong USP. Last but not least, the company's dependence on its home market China is a potential risk that should be kept in mind, although it should also be noted that, for now, it seems like the Chinese government is very accommodating to Chinese EV companies.</p><p><blockquote>当将蔚来视为一项投资时，它最终是否会变得像特斯拉一样庞大或估值很高并不重要。相反，投资者应该问自己，未来几年他们可以预期的总回报是多少，以及相对于蔚来商业模式的风险，这些预期回报是否足够高。关于这些风险，应该提到的事实是，该公司尚未盈利，这意味着蔚来依赖其资产负债表上的现金进行增长投资。最重要的是，电动汽车领域的竞争正在加剧，市场份额之争可能会在未来几年给利润率带来压力，尽管蔚来似乎由于其电池交换而处于相对有利的地位，我认为这是一个强大的USP。最后但并非最不重要的是，该公司对中国本土市场的依赖是一个应该牢记的潜在风险，尽管还应该指出的是，目前中国政府似乎对中国电动汽车公司非常包容。</blockquote></p><p> One could argue that valuations across the whole EV industry are too high, relative to how legacy auto companies are valued. Even those legacy players with attractive EV offerings such as Volkswagen or Ford trade at huge discounts compared to EV pureplays. But if one wants to invest in an EV pureplay, NIO doesn't seem like a bad choice. The company combines a strong brand, a unique BaaS offering, high growth rates, and shares trade at a discount compared to how the EV king Tesla is valued. At a little above 3x 2025 revenue, NIO does not seem overly expensive relative to other EV pureplays, although this still represents a premium versus legacy players, of course. If NIO manages to execute well and continues to roll out new models that are well-received by consumers, its shares could have significant upside potential in the long run. If EV stocks ever become an out-of-favor investment, NIO stock also could have considerable downside, however, this thus is not a low-risk pick. Depending on your risk tolerance, NIO could still be of value if you want a high-growth EV pureplay.</p><p><blockquote>有人可能会说，相对于传统汽车公司的估值，整个电动汽车行业的估值过高。与纯电动汽车相比，即使是大众汽车或福特等拥有有吸引力的电动汽车产品的传统企业，其交易也有巨大的折扣。但如果你想投资纯电动汽车，蔚来似乎是一个不错的选择。该公司结合了强大的品牌、独特的BaaS产品、高增长率，并且与电动汽车之王特斯拉的估值相比，股票交易价格有折扣。与其他纯电动汽车公司相比，蔚来2025年收入略高于3倍，似乎并不算太贵，当然，与传统公司相比，这仍然代表着溢价。如果蔚来能够表现良好并继续推出深受消费者欢迎的新车型，从长远来看，其股价可能具有巨大的上涨潜力。如果电动汽车股票成为不受欢迎的投资，蔚来股票也可能有相当大的下跌空间，然而，这并不是一个低风险的选择。根据您的风险承受能力，如果您想要高增长的纯电动汽车，蔚来仍然可能具有价值。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Will NIO Stock Follow Tesla's Footsteps? What To Consider Between These Two EV Stocks<blockquote>蔚来股票会追随特斯拉的脚步吗？这两只电动汽车股票之间需要考虑什么</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWill NIO Stock Follow Tesla's Footsteps? What To Consider Between These Two EV Stocks<blockquote>蔚来股票会追随特斯拉的脚步吗？这两只电动汽车股票之间需要考虑什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-07-24 09:16</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Let's take a look at how NIO compares to Tesla today, NIO's unique selling points, and the similarities between the two companies.</li>  <li>NIO is a high-growth choice that does not seem overly expensive relative to how Tesla is valued.</li>  <li>NIO is not a low-risk stock, however, and it may not be a good choice for everyone. Investors should also consider NIO's valuation versus legacy car companies.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2f749c70c8a2af3e18d5f6cecc72bfbb\" tg-width=\"1536\" tg-height=\"704\" referrerpolicy=\"no-referrer\"><span>ipopba/iStock via Getty Images</span></p><p><blockquote><ul><li>让我们来看看今天的蔚来与特斯拉相比如何，蔚来的独特卖点，以及两家公司的相似之处。</li><li>蔚来是一个高增长的选择，相对于特斯拉的估值，它似乎并不太昂贵。</li><li>然而，蔚来并不是一只低风险股票，它可能并不是每个人的好选择。投资者还应该考虑蔚来与传统汽车公司的估值。</li></ul><p class=\"t-img-caption\"><span>ipopba/iStock来自Getty Images</span></p></blockquote></p><p> <b>Article Thesis</b></p><p><blockquote><b>文章论文</b></blockquote></p><p> NIO, Inc. (NIO) is one of China's leading EV players, and has, through an attractive brand and its unique BaaS offering, attracted a lot of interest from consumers and investors. Today, however, the company is still way smaller than Tesla (TSLA), which is currently leading the global EV market. NIO is focused on its home market right now, which was true when Tesla was a smaller company as well, but NIO will try to grab market share in overseas markets as well. Shares are pricing in a lot of growth already, but if NIO can replicate Tesla's success, that could be more than justified.</p><p><blockquote>蔚来公司（蔚来）是中国领先的电动汽车制造商之一，通过其有吸引力的品牌和独特的BaaS产品吸引了消费者和投资者的极大兴趣。然而，如今，该公司仍然比目前引领全球电动汽车市场的特斯拉（TSLA）小得多。蔚来目前专注于国内市场，当特斯拉还是一家较小的公司时也是如此，但蔚来也将试图在海外市场抢占市场份额。股价已经反映了很大的增长，但如果蔚来能够复制特斯拉的成功，这可能是非常合理的。</blockquote></p><p> <b>NIO And TSLA Stock Prices</b></p><p><blockquote><b>蔚来和特斯拉股价</b></blockquote></p><p> Both companies have benefitted from growing interest in EVs during 2020, a trend that saw share prices of most EV pureplays rise rapidly. The combination of growing market share for EVs, accommodating policies such as subsidies for EV purchases, and massive monetary stimulus let shares of NIO and TSLA rise rapidly. NIO is up 245% over the last year, while TSLA is up 101% over the same time. Both companies are currently trading below their all-time highs, however, which were hit in early 2021 before market sentiment for EV pureplays cooled to some degree.</p><p><blockquote>2020年，两家公司都受益于人们对电动汽车日益增长的兴趣，这一趋势导致大多数纯电动汽车公司的股价迅速上涨。电动汽车市场份额不断增长、电动汽车购买补贴等宽松政策以及大规模货币刺激措施相结合，让蔚来和特斯拉的股价迅速上涨。蔚来去年上涨了245%，而特斯拉同期上涨了101%。然而，两家公司目前的交易价格均低于2021年初创下的历史高点，随后纯电动汽车的市场情绪在一定程度上降温。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5ff5ce865807df85283775d2293b41af\" tg-width=\"635\" tg-height=\"481\" referrerpolicy=\"no-referrer\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Taking a quick look at analyst price targets, we see that Tesla is trading almost perfectly in line with the consensus, whereas NIO trades about 30% below the analyst target. If the analyst community is right, then NIO is a substantially better investment right here, as Tesla is not expected to see its shares rise meaningfully over the next year, whereas NIO has significant upside to the analyst price target.</p><p><blockquote>快速浏览一下分析师的目标价，我们发现特斯拉的交易价格几乎完全符合共识，而蔚来的交易价格比分析师目标低约30%。如果分析师界是正确的，那么蔚来是一项更好的投资，因为预计特斯拉的股价明年不会大幅上涨，而蔚来的股价较分析师目标价有显着上涨空间。</blockquote></p><p> <b>Is NIO Similar To Tesla?</b></p><p><blockquote><b>蔚来和特斯拉相似吗？</b></blockquote></p><p> The answer to that question depends on what you focus on. There are similarities between the two companies, but there are also differences. One could thus say that, in some ways, the two are similar, but in others, they are not. Let's look at a couple of things:</p><p><blockquote>这个问题的答案取决于你关注的是什么。两家公司有相似之处，但也有不同之处。因此，人们可以说，在某些方面，两者是相似的，但在另一些方面，它们不是。让我们看几件事：</blockquote></p><p> <b>Business Model</b></p><p><blockquote><b>商业模式</b></blockquote></p><p> Both companies are focused on the EV space, although Tesla has, over the years, been building out a couple of other businesses as well, such as energy storage. Most of Tesla's revenues are generated through selling electric vehicles, which is also how NIO operates. Both companies are focused on the premium segment of EVs, selling higher-priced vehicles that compete with brands such as BMW, Mercedes, and Lexus. Both companies offer a small range of different vehicles, in Tesla's case those are the well-known S, X, 3, and Y, whereas NIO offers a sedan (ET7), and three SUVs (EC6, ES6, ES8). Despite the fact that NIO is a way smaller company today, the model lineups of the two companies do thus not differ too much.</p><p><blockquote>两家公司都专注于电动汽车领域，尽管特斯拉多年来也在发展其他一些业务，例如储能。特斯拉的大部分收入来自销售电动汽车，这也是蔚来的运营方式。两家公司都专注于电动汽车的高端市场，销售价格较高的汽车，与宝马、梅赛德斯和雷克萨斯等品牌竞争。两家公司都提供少量不同的车辆，特斯拉是著名的S、X、3和Y，而蔚来则提供一款轿车(ET7)和三款SUV(EC6、ES6、ES8)。尽管蔚来如今是一家规模较小的公司，但两家公司的车型阵容并没有太大差异。</blockquote></p><p> Both companies offer some type of charging infrastructure to their customers, in Tesla's case, that's the Supercharger network, where Tesla owners can charge their cars with up to 250kW, depending on what version of Supercharger is installed. NIO is following a different approach, offering a battery-as-a-service solution to its customers. NIO owners can get their battery switched out to a fully-charged battery at NIO's stations, a process that takes a couple of minutes and is thus significantly quicker compared to the regular EV charging offered by Tesla and other EV players. BaaS thus has advantages when it comes to the time it takes for a charge/swap, but it should be noted that Tesla's Superchargers are way more common around the world compared to NIO's battery-swapping stations. Rolling out that feature in additional markets will require large capital expenditures, but NIO's offering is a unique selling point compared to what all other EV players, including Tesla, are offering. It remains to be seen whether that will ultimately pay off, but this could become a major advantage for NIO as competition in the EV space is heating up.</p><p><blockquote>两家公司都向客户提供某种类型的充电基础设施，就特斯拉而言，这就是Supercharger网络，特斯拉车主可以根据安装的Supercharger版本为汽车充电高达250kW。蔚来正在采取不同的方法，为客户提供电池即服务解决方案。蔚来车主可以在蔚来的充电站将电池更换为充满电的电池，这一过程需要几分钟，因此与特斯拉和其他电动汽车厂商提供的常规电动汽车充电相比要快得多。因此，BaaS在充电/交换所需时间方面具有优势，但应该指出的是，与蔚来的电池交换站相比，特斯拉的超级充电站在世界各地更为常见。在其他市场推出该功能将需要大量资本支出，但与包括特斯拉在内的所有其他电动汽车厂商相比，蔚来的产品是一个独特的卖点。这最终是否会得到回报还有待观察，但随着电动汽车领域的竞争加剧，这可能成为蔚来的一大优势。</blockquote></p><p> <b>Size, growth, and valuation</b></p><p><blockquote><b>规模、增长和估值</b></blockquote></p><p></p><p> The two companies differ significantly in size, both when it comes to revenues and vehicle sales, as well as when it comes to the market value of the two companies. NIO has delivered22,000 vehicles in Q2, up 112% year over year, for an annual pace of around 90,000 vehicles. Tesla, meanwhile, has delivered 201,000 vehicles during Q2, up from 103,000 vehicles delivered during Q2 2020. This is strong growth on a year-over-year basis, although slightly below 100%, and thus below the growth rate that NIO is generating for now.</p><p><blockquote>这两家公司的规模差异很大，无论是在收入和汽车销量方面，还是在两家公司的市值方面。蔚来第二季度交付了22,000辆汽车，同比增长112%，年增长率约为90,000辆。与此同时，特斯拉在第二季度交付了201,000辆汽车，高于2020年第二季度的103,000辆汽车。这是一个强劲的同比增长，尽管略低于100%，因此低于蔚来目前的增长率。</blockquote></p><p> Tesla delivers around 9x as many vehicles compared to NIO per quarter, when we look at the market capitalizations of the two companies, we see that the ratio is almost exactly the same, as Tesla's market cap of $640 billion is ~9x as high as that of NIO, at $72 billion. At similar growth rates, that would make perfect sense, but it looks like NIO might be the better deal for now, as it trades at a comparable valuation while generating better growth. This will be especially true in the coming quarters, where Tesla's growth is expected to slow down:</p><p><blockquote>与蔚来相比，特斯拉每季度交付的汽车数量约为9倍，当我们查看两家公司的市值时，我们发现这一比例几乎完全相同，因为特斯拉6400亿美元的市值约为9倍。蔚来的市值为720亿美元。在类似的增长率下，这是完全有道理的，但目前看来蔚来可能是更好的交易，因为它的估值相当，同时产生更好的增长。在未来几个季度尤其如此，预计特斯拉的增长将放缓：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a986ea65130206f99961a46ce6cfed55\" tg-width=\"635\" tg-height=\"515\" referrerpolicy=\"no-referrer\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Tesla is forecasted to grow its revenue from $49 billion in 2021 to $83 billion in 2023, for an annual growth rate of 30%. NIO, meanwhile, is expected to see its revenue explode upwards from $5.4 billion to $12.8 billion between 2021 and 2023, for an annual growth rate of 54%. NIO is thus expected to grow way faster than Tesla over the next two years, on a relative basis. This shouldn't be a surprise, to be honest, as the law of large numbers dictates that maintaining massive growth rates becomes increasingly hard for a company the bigger it gets, and Tesla seems to have hit that point by now -- adding 50%+ a year to its top line will not be possible forever. This isn't even necessarily Tesla's fault, in fact, many high-quality growth companies have experienced the same. But investors should still consider this important fact -- Tesla's growth in coming years will be less exciting compared to what we have seen in the past, and peers, such as NIO, are growing faster.</p><p><blockquote>特斯拉的收入预计将从2021年的490亿美元增长到2023年的830亿美元，年增长率为30%。与此同时，蔚来的收入预计将在2021年至2023年间从54亿美元猛增至128亿美元，年增长率为54%。因此，相对而言，预计未来两年蔚来的增长速度将远远快于特斯拉。老实说，这并不奇怪，因为大数定律表明，对于一家规模越大的公司来说，保持大幅增长率就变得越来越困难，而特斯拉现在似乎已经达到了这一点——每年增加50%以上的收入将永远不可能。这甚至不一定是特斯拉的错，事实上，许多优质成长型公司都经历过同样的事情。但投资者仍应考虑这一重要事实——与我们过去看到的相比，特斯拉未来几年的增长将不那么令人兴奋，而蔚来等同行的增长速度更快。</blockquote></p><p> The same holds true when we take a longer-term view. Revenue estimates for 2025 rest at$22.6 billionfor NIO, up another 80% from the 2023 estimate, and up 320% from what analysts are forecasting for 2021. Tesla, meanwhile, is forecasted to generate revenues of $122.5 billion in 2025 -- a large number, but up by a comparatively weak 48% from 2023, and up by a total of 150% versus 2021. Between 2021 and 2025, NIO will thus 4x its revenue, while Tesla will 2.5x its revenue in the same time span -- a meaningful difference that should, all else equal, allow for a premium valuation for NIO, in the same way Tesla deserves a premium valuation versus legacy players such as Volkswagen (OTCPK:VWAGY).</p><p><blockquote>当我们从长远来看时，情况也是如此。蔚来2025年的收入预期为226亿美元，比2023年的预期再增长80%，比分析师对2021年的预测增长320%。与此同时，特斯拉预计2025年的收入将达到1,225亿美元，这是一个很大的数字，但比2023年增长了48%，比2021年总共增长了150%。因此，在2021年至2025年间，蔚来的收入将增加4倍，而特斯拉的收入将在同一时期增加2.5倍——在其他条件相同的情况下，这是一个有意义的差异，应该允许蔚来获得溢价估值，就像特斯拉一样。与大众汽车（OTCPK：VWAGY）等传统企业相比，它值得获得溢价估值。</blockquote></p><p> Looking at revenue estimates for 2025 relative to how the two companies are valued today, we see that NIO trades at 3.2x 2025 sales, while the 2025 sales multiple for Tesla is 5.2. For a long-term oriented investor, NIO thus seems like the better value today, thanks to the fact that it is trading at a significantly lower sales multiple when we take a look into the future. This does not necessarily mean that NIO is cheap, however, as even a 3.2x 2025 sales multiple is relatively high compared to how legacy auto companies are valued. NIO is looking less expensive than Tesla, however, even if its shares are not cheap on an absolute basis.</p><p><blockquote>相对于两家公司目前的估值来看2025年的收入预期，我们发现蔚来的市盈率为2025年销售额的3.2倍，而特斯拉2025年的销售额倍数为5.2倍。因此，对于长期投资者来说，蔚来今天似乎更有价值，因为当我们展望未来时，它的销售倍数要低得多。然而，这并不一定意味着蔚来很便宜，因为与传统汽车公司的估值相比，即使2025年3.2倍的销售倍数也相对较高。然而，蔚来看起来比特斯拉便宜，尽管其股价绝对并不便宜。</blockquote></p><p> <b>Can NIO Be Worth As Much As Tesla?</b></p><p><blockquote><b>蔚来能和特斯拉一样值钱吗？</b></blockquote></p><p> The answer to that depends on what time frame you are looking at. Today, NIO is significantly smaller than Tesla and thus rightfully trades at a way smaller market cap. It should also be noted that there is no guarantee that Tesla's shares are a great example of how an EV company should be valued -- it is, at least, possible that its shares are significantly&nbsp;overpriced&nbsp;today, I personally believe that as well (Note that some will argue that shares are&nbsp;underpriced, which is also among the possibilities, although I do not hold that belief personally).</p><p><blockquote>这个问题的答案取决于你所关注的时间框架。如今，蔚来的规模明显小于特斯拉，因此其市值也相应地小得多。还应该指出的是，不能保证特斯拉的股票是电动汽车公司应该如何估值的一个很好的例子——至少，它的股票今天有可能被严重高估，我个人也相信这一点（请注意，有些人会认为股票定价过低，这也是一种可能性，尽管我个人并不持有这种信念）。</blockquote></p><p></p><p> When we do, for a moment, assume that Tesla is correctly valued today and that EV companies do deserve a market cap in the $600 billion range when they sell about 800,000 vehicles a year, then NIO could eventually hit that as well, although not in the near term. NIO will sell about 90,000 vehicles this year, and that amount should grow to about 400,000 in 2025. If NIO were to grow its sales by 15% a year beyond that point, it could sell around 800,000 cars in 2030, or 9 years from now. If one wants to assume faster growth, the 800,000 vehicles a year line could also be crossed before 2030, e.g. in 2028 or 2029. If we do go with 2030 for now, then NIO could, at a similar deliveries-to-market capitalization ratio to Tesla, be valued at $600+ billion in 2030. In other words, NIO could be worth as much as Tesla (today) in nine years, when we assume that current growth projections are realistic and that a Tesla-like valuation is appropriate. Those are two major ifs, of course, and especially the second point is far from certain, I believe. I personally would not be too surprised to see Tesla's valuation compress, and thus NIO could trade well below the $600 billion market cap level in 2030, even if it continues to grow meaningfully. It is also possible that NIO's growth disappoints and that current projections are too bullish, although I think that NIO is well-positioned for growth thanks to its unique BaaS model and its strong brand that is especially well-recognized in its home market.</p><p><blockquote>当我们暂时假设特斯拉今天的估值是正确的，并且电动汽车公司每年销售约80万辆汽车时确实应该获得6000亿美元的市值时，那么蔚来最终也可能达到这一目标，尽管不是在近期。蔚来今年将销售约9万辆汽车，2025年这一数字将增长至约40万辆。如果蔚来的销量在此之后每年增长15%，那么到2030年（即9年后），它可能会售出约80万辆汽车。如果想要更快的增长，也可以在2030年之前跨越每年80万辆汽车的界限，例如2028年或2029年。如果我们现在确实选择2030年，那么按照与特斯拉类似的交付量与市值比率，蔚来到2030年的估值可能会超过6000亿美元。换句话说，如果我们假设当前的增长预测是现实的，并且类似特斯拉的估值是合适的，那么九年后蔚来的价值可能会与特斯拉（今天）一样高。当然，这是两个主要的如果，尤其是第二点，我认为还远未确定。我个人不会对特斯拉的估值压缩感到太惊讶，因此蔚来的市值在2030年可能远低于6000亿美元的水平，即使它继续大幅增长。蔚来的增长也有可能令人失望，目前的预测过于乐观，尽管我认为蔚来凭借其独特的BaaS模式和在国内市场特别受认可的强大品牌，处于良好的增长地位。</blockquote></p><p> It should also be noted that Tesla's market cap in 2030 could be very different from $600 billion, thus even in case NIO hits that level, it is not at all guaranteed that the two companies will have a similar market cap. Tesla might be valued at a way higher valuation by then, e.g. if the ARK model is right (something I personally think is unlikely). To answer the above question, one could thus say that NIO might be worth hundreds of billions of dollars, like Tesla, in 8-10 years, but that is not at all guaranteed. And even if that were to happen, Tesla might be worth significantly more by then.</p><p><blockquote>还应该指出的是，特斯拉2030年的市值可能与6000亿美元有很大不同，因此即使蔚来达到这一水平，也不能保证两家公司的市值会相似。到那时，特斯拉的估值可能会高得多，例如如果方舟模型是正确的（我个人认为不太可能）。为了回答上述问题，人们可以说，蔚来可能在8-10年内像特斯拉一样价值数千亿美元，但这根本不能保证。即使这种情况发生，到那时特斯拉的价值也可能会高得多。</blockquote></p><p> <b>Is NIO A Good Stock To Buy Or Sell Now?</b></p><p><blockquote><b>蔚来现在是买入或卖出的好股票吗？</b></blockquote></p><p> When considering NIO as an investment, it doesn't really matter all that much whether it will become as large or highly valued as Tesla eventually. Instead, investors should ask themselves what total returns they can expect over the next couple of years, and whether those expected returns are high enough relative to the risks in NIO's business model. Regarding those risks, one should mention the fact that the company isn't profitable yet, which means that NIO is dependent on cash on its balance sheet for growth investments. On top of that, competition in the EV space is growing, and market share battles could pressure margins in coming years, although NIO seems relatively well-positioned thanks to its battery-swapping, which is, I believe, a strong USP. Last but not least, the company's dependence on its home market China is a potential risk that should be kept in mind, although it should also be noted that, for now, it seems like the Chinese government is very accommodating to Chinese EV companies.</p><p><blockquote>当将蔚来视为一项投资时，它最终是否会变得像特斯拉一样庞大或估值很高并不重要。相反，投资者应该问自己，未来几年他们可以预期的总回报是多少，以及相对于蔚来商业模式的风险，这些预期回报是否足够高。关于这些风险，应该提到的事实是，该公司尚未盈利，这意味着蔚来依赖其资产负债表上的现金进行增长投资。最重要的是，电动汽车领域的竞争正在加剧，市场份额之争可能会在未来几年给利润率带来压力，尽管蔚来似乎由于其电池交换而处于相对有利的地位，我认为这是一个强大的USP。最后但并非最不重要的是，该公司对中国本土市场的依赖是一个应该牢记的潜在风险，尽管还应该指出的是，目前中国政府似乎对中国电动汽车公司非常包容。</blockquote></p><p> One could argue that valuations across the whole EV industry are too high, relative to how legacy auto companies are valued. Even those legacy players with attractive EV offerings such as Volkswagen or Ford trade at huge discounts compared to EV pureplays. But if one wants to invest in an EV pureplay, NIO doesn't seem like a bad choice. The company combines a strong brand, a unique BaaS offering, high growth rates, and shares trade at a discount compared to how the EV king Tesla is valued. At a little above 3x 2025 revenue, NIO does not seem overly expensive relative to other EV pureplays, although this still represents a premium versus legacy players, of course. If NIO manages to execute well and continues to roll out new models that are well-received by consumers, its shares could have significant upside potential in the long run. If EV stocks ever become an out-of-favor investment, NIO stock also could have considerable downside, however, this thus is not a low-risk pick. Depending on your risk tolerance, NIO could still be of value if you want a high-growth EV pureplay.</p><p><blockquote>有人可能会说，相对于传统汽车公司的估值，整个电动汽车行业的估值过高。与纯电动汽车相比，即使是大众汽车或福特等拥有有吸引力的电动汽车产品的传统企业，其交易也有巨大的折扣。但如果你想投资纯电动汽车，蔚来似乎是一个不错的选择。该公司结合了强大的品牌、独特的BaaS产品、高增长率，并且与电动汽车之王特斯拉的估值相比，股票交易价格有折扣。与其他纯电动汽车公司相比，蔚来2025年收入略高于3倍，似乎并不算太贵，当然，与传统公司相比，这仍然代表着溢价。如果蔚来能够表现良好并继续推出深受消费者欢迎的新车型，从长远来看，其股价可能具有巨大的上涨潜力。如果电动汽车股票成为不受欢迎的投资，蔚来股票也可能有相当大的下跌空间，然而，这并不是一个低风险的选择。根据您的风险承受能力，如果您想要高增长的纯电动汽车，蔚来仍然可能具有价值。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4440950-will-nio-stock-follow-tesla-what-to-consider-ev-stocks\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4440950-will-nio-stock-follow-tesla-what-to-consider-ev-stocks","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112927800","content_text":"Summary\n\nLet's take a look at how NIO compares to Tesla today, NIO's unique selling points, and the similarities between the two companies.\nNIO is a high-growth choice that does not seem overly expensive relative to how Tesla is valued.\nNIO is not a low-risk stock, however, and it may not be a good choice for everyone. Investors should also consider NIO's valuation versus legacy car companies.\n\nipopba/iStock via Getty Images\nArticle Thesis\nNIO, Inc. (NIO) is one of China's leading EV players, and has, through an attractive brand and its unique BaaS offering, attracted a lot of interest from consumers and investors. Today, however, the company is still way smaller than Tesla (TSLA), which is currently leading the global EV market. NIO is focused on its home market right now, which was true when Tesla was a smaller company as well, but NIO will try to grab market share in overseas markets as well. Shares are pricing in a lot of growth already, but if NIO can replicate Tesla's success, that could be more than justified.\nNIO And TSLA Stock Prices\nBoth companies have benefitted from growing interest in EVs during 2020, a trend that saw share prices of most EV pureplays rise rapidly. The combination of growing market share for EVs, accommodating policies such as subsidies for EV purchases, and massive monetary stimulus let shares of NIO and TSLA rise rapidly. NIO is up 245% over the last year, while TSLA is up 101% over the same time. Both companies are currently trading below their all-time highs, however, which were hit in early 2021 before market sentiment for EV pureplays cooled to some degree.\nData by YCharts\nTaking a quick look at analyst price targets, we see that Tesla is trading almost perfectly in line with the consensus, whereas NIO trades about 30% below the analyst target. If the analyst community is right, then NIO is a substantially better investment right here, as Tesla is not expected to see its shares rise meaningfully over the next year, whereas NIO has significant upside to the analyst price target.\nIs NIO Similar To Tesla?\nThe answer to that question depends on what you focus on. There are similarities between the two companies, but there are also differences. One could thus say that, in some ways, the two are similar, but in others, they are not. Let's look at a couple of things:\nBusiness Model\nBoth companies are focused on the EV space, although Tesla has, over the years, been building out a couple of other businesses as well, such as energy storage. Most of Tesla's revenues are generated through selling electric vehicles, which is also how NIO operates. Both companies are focused on the premium segment of EVs, selling higher-priced vehicles that compete with brands such as BMW, Mercedes, and Lexus. Both companies offer a small range of different vehicles, in Tesla's case those are the well-known S, X, 3, and Y, whereas NIO offers a sedan (ET7), and three SUVs (EC6, ES6, ES8). Despite the fact that NIO is a way smaller company today, the model lineups of the two companies do thus not differ too much.\nBoth companies offer some type of charging infrastructure to their customers, in Tesla's case, that's the Supercharger network, where Tesla owners can charge their cars with up to 250kW, depending on what version of Supercharger is installed. NIO is following a different approach, offering a battery-as-a-service solution to its customers. NIO owners can get their battery switched out to a fully-charged battery at NIO's stations, a process that takes a couple of minutes and is thus significantly quicker compared to the regular EV charging offered by Tesla and other EV players. BaaS thus has advantages when it comes to the time it takes for a charge/swap, but it should be noted that Tesla's Superchargers are way more common around the world compared to NIO's battery-swapping stations. Rolling out that feature in additional markets will require large capital expenditures, but NIO's offering is a unique selling point compared to what all other EV players, including Tesla, are offering. It remains to be seen whether that will ultimately pay off, but this could become a major advantage for NIO as competition in the EV space is heating up.\nSize, growth, and valuation\nThe two companies differ significantly in size, both when it comes to revenues and vehicle sales, as well as when it comes to the market value of the two companies. NIO has delivered22,000 vehicles in Q2, up 112% year over year, for an annual pace of around 90,000 vehicles. Tesla, meanwhile, has delivered 201,000 vehicles during Q2, up from 103,000 vehicles delivered during Q2 2020. This is strong growth on a year-over-year basis, although slightly below 100%, and thus below the growth rate that NIO is generating for now.\nTesla delivers around 9x as many vehicles compared to NIO per quarter, when we look at the market capitalizations of the two companies, we see that the ratio is almost exactly the same, as Tesla's market cap of $640 billion is ~9x as high as that of NIO, at $72 billion. At similar growth rates, that would make perfect sense, but it looks like NIO might be the better deal for now, as it trades at a comparable valuation while generating better growth. This will be especially true in the coming quarters, where Tesla's growth is expected to slow down:\nData by YCharts\nTesla is forecasted to grow its revenue from $49 billion in 2021 to $83 billion in 2023, for an annual growth rate of 30%. NIO, meanwhile, is expected to see its revenue explode upwards from $5.4 billion to $12.8 billion between 2021 and 2023, for an annual growth rate of 54%. NIO is thus expected to grow way faster than Tesla over the next two years, on a relative basis. This shouldn't be a surprise, to be honest, as the law of large numbers dictates that maintaining massive growth rates becomes increasingly hard for a company the bigger it gets, and Tesla seems to have hit that point by now -- adding 50%+ a year to its top line will not be possible forever. This isn't even necessarily Tesla's fault, in fact, many high-quality growth companies have experienced the same. But investors should still consider this important fact -- Tesla's growth in coming years will be less exciting compared to what we have seen in the past, and peers, such as NIO, are growing faster.\nThe same holds true when we take a longer-term view. Revenue estimates for 2025 rest at$22.6 billionfor NIO, up another 80% from the 2023 estimate, and up 320% from what analysts are forecasting for 2021. Tesla, meanwhile, is forecasted to generate revenues of $122.5 billion in 2025 -- a large number, but up by a comparatively weak 48% from 2023, and up by a total of 150% versus 2021. Between 2021 and 2025, NIO will thus 4x its revenue, while Tesla will 2.5x its revenue in the same time span -- a meaningful difference that should, all else equal, allow for a premium valuation for NIO, in the same way Tesla deserves a premium valuation versus legacy players such as Volkswagen (OTCPK:VWAGY).\nLooking at revenue estimates for 2025 relative to how the two companies are valued today, we see that NIO trades at 3.2x 2025 sales, while the 2025 sales multiple for Tesla is 5.2. For a long-term oriented investor, NIO thus seems like the better value today, thanks to the fact that it is trading at a significantly lower sales multiple when we take a look into the future. This does not necessarily mean that NIO is cheap, however, as even a 3.2x 2025 sales multiple is relatively high compared to how legacy auto companies are valued. NIO is looking less expensive than Tesla, however, even if its shares are not cheap on an absolute basis.\nCan NIO Be Worth As Much As Tesla?\nThe answer to that depends on what time frame you are looking at. Today, NIO is significantly smaller than Tesla and thus rightfully trades at a way smaller market cap. It should also be noted that there is no guarantee that Tesla's shares are a great example of how an EV company should be valued -- it is, at least, possible that its shares are significantly overpriced today, I personally believe that as well (Note that some will argue that shares are underpriced, which is also among the possibilities, although I do not hold that belief personally).\nWhen we do, for a moment, assume that Tesla is correctly valued today and that EV companies do deserve a market cap in the $600 billion range when they sell about 800,000 vehicles a year, then NIO could eventually hit that as well, although not in the near term. NIO will sell about 90,000 vehicles this year, and that amount should grow to about 400,000 in 2025. If NIO were to grow its sales by 15% a year beyond that point, it could sell around 800,000 cars in 2030, or 9 years from now. If one wants to assume faster growth, the 800,000 vehicles a year line could also be crossed before 2030, e.g. in 2028 or 2029. If we do go with 2030 for now, then NIO could, at a similar deliveries-to-market capitalization ratio to Tesla, be valued at $600+ billion in 2030. In other words, NIO could be worth as much as Tesla (today) in nine years, when we assume that current growth projections are realistic and that a Tesla-like valuation is appropriate. Those are two major ifs, of course, and especially the second point is far from certain, I believe. I personally would not be too surprised to see Tesla's valuation compress, and thus NIO could trade well below the $600 billion market cap level in 2030, even if it continues to grow meaningfully. It is also possible that NIO's growth disappoints and that current projections are too bullish, although I think that NIO is well-positioned for growth thanks to its unique BaaS model and its strong brand that is especially well-recognized in its home market.\nIt should also be noted that Tesla's market cap in 2030 could be very different from $600 billion, thus even in case NIO hits that level, it is not at all guaranteed that the two companies will have a similar market cap. Tesla might be valued at a way higher valuation by then, e.g. if the ARK model is right (something I personally think is unlikely). To answer the above question, one could thus say that NIO might be worth hundreds of billions of dollars, like Tesla, in 8-10 years, but that is not at all guaranteed. And even if that were to happen, Tesla might be worth significantly more by then.\nIs NIO A Good Stock To Buy Or Sell Now?\nWhen considering NIO as an investment, it doesn't really matter all that much whether it will become as large or highly valued as Tesla eventually. Instead, investors should ask themselves what total returns they can expect over the next couple of years, and whether those expected returns are high enough relative to the risks in NIO's business model. Regarding those risks, one should mention the fact that the company isn't profitable yet, which means that NIO is dependent on cash on its balance sheet for growth investments. On top of that, competition in the EV space is growing, and market share battles could pressure margins in coming years, although NIO seems relatively well-positioned thanks to its battery-swapping, which is, I believe, a strong USP. Last but not least, the company's dependence on its home market China is a potential risk that should be kept in mind, although it should also be noted that, for now, it seems like the Chinese government is very accommodating to Chinese EV companies.\nOne could argue that valuations across the whole EV industry are too high, relative to how legacy auto companies are valued. Even those legacy players with attractive EV offerings such as Volkswagen or Ford trade at huge discounts compared to EV pureplays. But if one wants to invest in an EV pureplay, NIO doesn't seem like a bad choice. The company combines a strong brand, a unique BaaS offering, high growth rates, and shares trade at a discount compared to how the EV king Tesla is valued. At a little above 3x 2025 revenue, NIO does not seem overly expensive relative to other EV pureplays, although this still represents a premium versus legacy players, of course. If NIO manages to execute well and continues to roll out new models that are well-received by consumers, its shares could have significant upside potential in the long run. If EV stocks ever become an out-of-favor investment, NIO stock also could have considerable downside, however, this thus is not a low-risk pick. Depending on your risk tolerance, NIO could still be of value if you want a high-growth EV pureplay.","news_type":1,"symbols_score_info":{"NIO":0.9,"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":2827,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":122599530,"gmtCreate":1624626709420,"gmtModify":1633950379642,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"Good result. Continue to grow and create new high!👍","listText":"Good result. Continue to grow and create new high!👍","text":"Good result. Continue to grow and create new high!👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/122599530","repostId":"2146023165","repostType":4,"isVote":1,"tweetType":1,"viewCount":4202,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":122247502,"gmtCreate":1624625319906,"gmtModify":1633950394549,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"Continue to grow bigger.&nbsp;","listText":"Continue to grow bigger.&nbsp;","text":"Continue to grow bigger.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/122247502","repostId":"1103578066","repostType":4,"isVote":1,"tweetType":1,"viewCount":2591,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126096720,"gmtCreate":1624536212460,"gmtModify":1634004755985,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"To grow even bigger.&nbsp;","listText":"To grow even bigger.&nbsp;","text":"To grow even bigger.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/126096720","repostId":"1138132786","repostType":4,"isVote":1,"tweetType":1,"viewCount":2020,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":121165571,"gmtCreate":1624456948793,"gmtModify":1634005877116,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"Agree!","listText":"Agree!","text":"Agree!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/121165571","repostId":"1145825451","repostType":4,"isVote":1,"tweetType":1,"viewCount":2807,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129629084,"gmtCreate":1624371506948,"gmtModify":1634007112391,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"Is this short term retracement?","listText":"Is this short term retracement?","text":"Is this short term retracement?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/129629084","repostId":"1132497836","repostType":4,"repost":{"id":"1132497836","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1624370799,"share":"https://www.laohu8.com/m/news/1132497836?lang=zh_CN&edition=full","pubTime":"2021-06-22 22:06","market":"us","language":"en","title":"ContextLogic stock fell in morning trading<blockquote>ContextLogic股价早盘下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1132497836","media":"Tiger Newspress","summary":"(June 22)&nbsp;ContextLogic stock fell in morning trading.","content":"<p>(June 22)&nbsp;ContextLogic stock fell in morning trading.</p><p><blockquote>（6月22日）ContextLogic股票早盘下跌。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3f4961b3f42c7db05dcef1237b9eb084\" tg-width=\"658\" tg-height=\"477\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>ContextLogic stock fell in morning trading<blockquote>ContextLogic股价早盘下跌</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nContextLogic stock fell in morning trading<blockquote>ContextLogic股价早盘下跌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-06-22 22:06</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(June 22)&nbsp;ContextLogic stock fell in morning trading.</p><p><blockquote>（6月22日）ContextLogic股票早盘下跌。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3f4961b3f42c7db05dcef1237b9eb084\" tg-width=\"658\" tg-height=\"477\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132497836","content_text":"(June 22) ContextLogic stock fell in morning trading.","news_type":1,"symbols_score_info":{"WISH":0.9}},"isVote":1,"tweetType":1,"viewCount":2039,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164619784,"gmtCreate":1624199893148,"gmtModify":1634009560018,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"Thanks for the sharing.&nbsp;","listText":"Thanks for the sharing.&nbsp;","text":"Thanks for the sharing.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/164619784","repostId":"1166679093","repostType":4,"repost":{"id":"1166679093","kind":"news","pubTimestamp":1624065234,"share":"https://www.laohu8.com/m/news/1166679093?lang=zh_CN&edition=full","pubTime":"2021-06-19 09:13","market":"us","language":"en","title":"3 Meme Stocks Wall Street Predicts Will Plunge More Than 20%<blockquote>华尔街预测3只模因股将暴跌20%以上</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1166679093","media":"fool","summary":"Meme stocks have been all the rage so far this year. That's understandable, with several of them del","content":"<p>Meme stocks have been all the rage so far this year. That's understandable, with several of them delivering triple-digit and even four-digit percentage gains.</p><p><blockquote>今年到目前为止，模因股票风靡一时。这是可以理解的，其中一些公司实现了三位数甚至四位数的百分比增长。</blockquote></p><p> However, what goes up can come down. Analysts don't expect the online frenzy fueling the ginormous jumps for some of the most popular stocks will be sustainable. Here are three meme stocks that Wall Street thinks will plunge by more than 20% within the next 12 months.</p><p><blockquote>然而，上升的可以下降。分析师预计，推动一些最受欢迎股票大幅上涨的网络狂热不会持续下去。以下是华尔街认为未来12个月内将暴跌20%以上的三只模因股票。</blockquote></p><p> AMC Entertainment</p><p><blockquote>AMC院线</blockquote></p><p> <b>AMC Entertainment</b>(NYSE:AMC)ranks as the best-performing meme stock of all. Shares of the movie theater operator have skyrocketed close to 2,500% year to date.</p><p><blockquote><b>AMC院线</b>（纽约证券交易所股票代码：AMC）被评为所有模因股票中表现最好的。今年迄今为止，这家电影院运营商的股价已飙升近2,500%。</blockquote></p><p> The consensus among analysts, though, is that the stock could lose 90% of its current value. Even the most optimistic analyst surveyed by Refinitiv has a price target for AMC that's more than 70% below the current share price.</p><p><blockquote>不过，分析师的共识是，该股可能会损失当前价值的90%。即使是Refinitiv调查的最乐观的分析师对AMC的目标价也比当前股价低70%以上。</blockquote></p><p> But isn't AMC's business picking up? Yep. The easing of restrictions has enabled the company to reopen 99% of its U.S. theaters. AMC could benefit as seating capacity limitations imposed by state and local governments are raised. Thereleases of multiple movies this summerand later this year that are likely to be hits should also help.</p><p><blockquote>但AMC的业务不是在回暖吗？是的。限制的放松使该公司能够重新开放99%的美国影院。随着州和地方政府施加的座位容量限制的提高，AMC可能会受益。今年夏天和今年晚些时候上映的多部可能会大受欢迎的电影也应该会有所帮助。</blockquote></p><p> However, Wall Street clearly believes that AMC's share price has gotten way ahead of its business prospects. The stock is trading at nearly eight times higher than it was before the COVID-19 pandemic.</p><p><blockquote>然而，华尔街显然认为AMC的股价已经远远超出了其业务前景。该股目前的交易价格比COVID-19大流行之前高出近八倍。</blockquote></p><p> Clover Health Investments</p><p><blockquote>三叶草健康投资</blockquote></p><p> Only a few days ago, it looked like&nbsp;<b>Clover Health Investments</b>(NASDAQ:CLOV)might push AMC to the side as the hottest meme stock. Retail investors viewed Clover as a primeshort squeezecandidate.</p><p><blockquote>就在几天前，看起来<b>三叶草健康投资</b>（纳斯达克股票代码：CLOV）可能会将AMC推到最热门的模因股票旁边。散户投资者将Clover视为主要的空头挤压候选者。</blockquote></p><p> Since the beginning of June, shares of Clover Health have jumped more than 65%. Analysts, however, don't expect those gains to last. The average price target for the stock is 25% below the current share price.</p><p><blockquote>自6月初以来，Clover Health的股价已上涨超过65%。然而，分析师预计这些涨幅不会持续下去。该股的平均目标价比当前股价低25%。</blockquote></p><p> Clover Health's valuation does seem to have gotten out of hand. The healthcare stock currently trades at more than 170 times trailing-12-month sales. That's a nosebleed level, especially considering that the company is the subject of investigations by the U.S. Department of Justice and the Securities and Exchange Commission.</p><p><blockquote>Clover Health的估值似乎确实已经失控。该医疗保健股目前的交易价格是过去12个月销售额的170多倍。这是一个令人流鼻血的水平，特别是考虑到该公司是美国调查的对象。司法部和证券交易委员会。</blockquote></p><p> Still, Clover Health could deliver improving financial results this year. The company hopes to significantly increase its membership by targeting the original Medicare program. This represents a major new market opportunity in addition to its current Medicare Advantage business.</p><p><blockquote>尽管如此，Clover Health今年的财务业绩可能会有所改善。该公司希望通过瞄准原来的医疗保险计划来大幅增加其会员。除了当前的Medicare Advantage业务之外，这也是一个重大的新市场机会。</blockquote></p><p> Sundial Growers</p><p><blockquote>日晷种植者</blockquote></p><p> At one point earlier this year,&nbsp;<b>Sundial Growers</b>(NASDAQ:SNDL)appeared to be a legitimate contender to become the biggest winner among meme stocks. The Canadian marijuana stock vaulted more than 520% higher year to date before giving up much of its gains. However, Sundial's share price has still more than doubled in 2021.</p><p><blockquote>今年早些时候，<b>日晷种植者</b>（纳斯达克股票代码：SNDL）似乎是成为模因股票最大赢家的合法竞争者。加拿大大麻股票今年迄今已上涨超过520%，随后回吐了大部分涨幅。不过，Sundial的股价在2021年仍上涨了一倍多。</blockquote></p><p> Analysts anticipate that the pot stock could fall even further. The consensus price target for Sundial reflects a 23% discount to its current share price. One analyst even thinks the stock could sink 55%.</p><p><blockquote>分析师预计大麻库存可能会进一步下跌。Sundial的共识目标价较其当前股价有23%的折扣。一位分析师甚至认为该股可能下跌55%。</blockquote></p><p> There certainly are reasons to be pessimistic about Sundial's core cannabis business. The company's net cannabis revenue fell year over year in the first quarter of 2021. Although Sundial is taking steps that it hopes will turn things around, it remains to be seen if those efforts will succeed.</p><p><blockquote>当然有理由对Sundial的核心大麻业务持悲观态度。该公司2021年第一季度的大麻净收入同比下降。尽管日晷正在采取措施，希望能够扭转局面，但这些努力是否会成功还有待观察。</blockquote></p><p> Sundial's business deals could give investors reasons for optimism. After all, the company posted positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in Q1 due to its investments.</p><p><blockquote>Sundial的商业交易可能会给投资者带来乐观的理由。毕竟，由于其投资，该公司第一季度调整后息税折旧摊销前利润(EBITDA)为正。</blockquote></p><p> However, the cash that Sundial is using to make these investments has come at the cost of increased dilution of its stock. The company can't afford any additional dilution without having to resort to desperate measures to keep its listing on the&nbsp;<b>Nasdaq</b>&nbsp;stock exchange.</p><p><blockquote>然而，Sundial用于进行这些投资的现金是以其股票进一步稀释为代价的。该公司无法承受任何额外的稀释，除非采取绝望的措施来维持其在<b>纳斯达克</b>证券交易所。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Meme Stocks Wall Street Predicts Will Plunge More Than 20%<blockquote>华尔街预测3只模因股将暴跌20%以上</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Meme Stocks Wall Street Predicts Will Plunge More Than 20%<blockquote>华尔街预测3只模因股将暴跌20%以上</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">fool</strong><span class=\"h-time small\">2021-06-19 09:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Meme stocks have been all the rage so far this year. That's understandable, with several of them delivering triple-digit and even four-digit percentage gains.</p><p><blockquote>今年到目前为止，模因股票风靡一时。这是可以理解的，其中一些公司实现了三位数甚至四位数的百分比增长。</blockquote></p><p> However, what goes up can come down. Analysts don't expect the online frenzy fueling the ginormous jumps for some of the most popular stocks will be sustainable. Here are three meme stocks that Wall Street thinks will plunge by more than 20% within the next 12 months.</p><p><blockquote>然而，上升的可以下降。分析师预计，推动一些最受欢迎股票大幅上涨的网络狂热不会持续下去。以下是华尔街认为未来12个月内将暴跌20%以上的三只模因股票。</blockquote></p><p> AMC Entertainment</p><p><blockquote>AMC院线</blockquote></p><p> <b>AMC Entertainment</b>(NYSE:AMC)ranks as the best-performing meme stock of all. Shares of the movie theater operator have skyrocketed close to 2,500% year to date.</p><p><blockquote><b>AMC院线</b>（纽约证券交易所股票代码：AMC）被评为所有模因股票中表现最好的。今年迄今为止，这家电影院运营商的股价已飙升近2,500%。</blockquote></p><p> The consensus among analysts, though, is that the stock could lose 90% of its current value. Even the most optimistic analyst surveyed by Refinitiv has a price target for AMC that's more than 70% below the current share price.</p><p><blockquote>不过，分析师的共识是，该股可能会损失当前价值的90%。即使是Refinitiv调查的最乐观的分析师对AMC的目标价也比当前股价低70%以上。</blockquote></p><p> But isn't AMC's business picking up? Yep. The easing of restrictions has enabled the company to reopen 99% of its U.S. theaters. AMC could benefit as seating capacity limitations imposed by state and local governments are raised. Thereleases of multiple movies this summerand later this year that are likely to be hits should also help.</p><p><blockquote>但AMC的业务不是在回暖吗？是的。限制的放松使该公司能够重新开放99%的美国影院。随着州和地方政府施加的座位容量限制的提高，AMC可能会受益。今年夏天和今年晚些时候上映的多部可能会大受欢迎的电影也应该会有所帮助。</blockquote></p><p> However, Wall Street clearly believes that AMC's share price has gotten way ahead of its business prospects. The stock is trading at nearly eight times higher than it was before the COVID-19 pandemic.</p><p><blockquote>然而，华尔街显然认为AMC的股价已经远远超出了其业务前景。该股目前的交易价格比COVID-19大流行之前高出近八倍。</blockquote></p><p> Clover Health Investments</p><p><blockquote>三叶草健康投资</blockquote></p><p> Only a few days ago, it looked like&nbsp;<b>Clover Health Investments</b>(NASDAQ:CLOV)might push AMC to the side as the hottest meme stock. Retail investors viewed Clover as a primeshort squeezecandidate.</p><p><blockquote>就在几天前，看起来<b>三叶草健康投资</b>（纳斯达克股票代码：CLOV）可能会将AMC推到最热门的模因股票旁边。散户投资者将Clover视为主要的空头挤压候选者。</blockquote></p><p> Since the beginning of June, shares of Clover Health have jumped more than 65%. Analysts, however, don't expect those gains to last. The average price target for the stock is 25% below the current share price.</p><p><blockquote>自6月初以来，Clover Health的股价已上涨超过65%。然而，分析师预计这些涨幅不会持续下去。该股的平均目标价比当前股价低25%。</blockquote></p><p> Clover Health's valuation does seem to have gotten out of hand. The healthcare stock currently trades at more than 170 times trailing-12-month sales. That's a nosebleed level, especially considering that the company is the subject of investigations by the U.S. Department of Justice and the Securities and Exchange Commission.</p><p><blockquote>Clover Health的估值似乎确实已经失控。该医疗保健股目前的交易价格是过去12个月销售额的170多倍。这是一个令人流鼻血的水平，特别是考虑到该公司是美国调查的对象。司法部和证券交易委员会。</blockquote></p><p> Still, Clover Health could deliver improving financial results this year. The company hopes to significantly increase its membership by targeting the original Medicare program. This represents a major new market opportunity in addition to its current Medicare Advantage business.</p><p><blockquote>尽管如此，Clover Health今年的财务业绩可能会有所改善。该公司希望通过瞄准原来的医疗保险计划来大幅增加其会员。除了当前的Medicare Advantage业务之外，这也是一个重大的新市场机会。</blockquote></p><p> Sundial Growers</p><p><blockquote>日晷种植者</blockquote></p><p> At one point earlier this year,&nbsp;<b>Sundial Growers</b>(NASDAQ:SNDL)appeared to be a legitimate contender to become the biggest winner among meme stocks. The Canadian marijuana stock vaulted more than 520% higher year to date before giving up much of its gains. However, Sundial's share price has still more than doubled in 2021.</p><p><blockquote>今年早些时候，<b>日晷种植者</b>（纳斯达克股票代码：SNDL）似乎是成为模因股票最大赢家的合法竞争者。加拿大大麻股票今年迄今已上涨超过520%，随后回吐了大部分涨幅。不过，Sundial的股价在2021年仍上涨了一倍多。</blockquote></p><p> Analysts anticipate that the pot stock could fall even further. The consensus price target for Sundial reflects a 23% discount to its current share price. One analyst even thinks the stock could sink 55%.</p><p><blockquote>分析师预计大麻库存可能会进一步下跌。Sundial的共识目标价较其当前股价有23%的折扣。一位分析师甚至认为该股可能下跌55%。</blockquote></p><p> There certainly are reasons to be pessimistic about Sundial's core cannabis business. The company's net cannabis revenue fell year over year in the first quarter of 2021. Although Sundial is taking steps that it hopes will turn things around, it remains to be seen if those efforts will succeed.</p><p><blockquote>当然有理由对Sundial的核心大麻业务持悲观态度。该公司2021年第一季度的大麻净收入同比下降。尽管日晷正在采取措施，希望能够扭转局面，但这些努力是否会成功还有待观察。</blockquote></p><p> Sundial's business deals could give investors reasons for optimism. After all, the company posted positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in Q1 due to its investments.</p><p><blockquote>Sundial的商业交易可能会给投资者带来乐观的理由。毕竟，由于其投资，该公司第一季度调整后息税折旧摊销前利润(EBITDA)为正。</blockquote></p><p> However, the cash that Sundial is using to make these investments has come at the cost of increased dilution of its stock. The company can't afford any additional dilution without having to resort to desperate measures to keep its listing on the&nbsp;<b>Nasdaq</b>&nbsp;stock exchange.</p><p><blockquote>然而，Sundial用于进行这些投资的现金是以其股票进一步稀释为代价的。该公司无法承受任何额外的稀释，除非采取绝望的措施来维持其在<b>纳斯达克</b>证券交易所。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/06/18/3-meme-stocks-wall-street-predicts-will-plunge-mor/\">fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CLOV":"Clover Health Corp","AMC":"AMC院线","SNDL":"SNDL Inc."},"source_url":"https://www.fool.com/investing/2021/06/18/3-meme-stocks-wall-street-predicts-will-plunge-mor/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166679093","content_text":"Meme stocks have been all the rage so far this year. That's understandable, with several of them delivering triple-digit and even four-digit percentage gains.\nHowever, what goes up can come down. Analysts don't expect the online frenzy fueling the ginormous jumps for some of the most popular stocks will be sustainable. Here are three meme stocks that Wall Street thinks will plunge by more than 20% within the next 12 months.\nAMC Entertainment\nAMC Entertainment(NYSE:AMC)ranks as the best-performing meme stock of all. Shares of the movie theater operator have skyrocketed close to 2,500% year to date.\nThe consensus among analysts, though, is that the stock could lose 90% of its current value. Even the most optimistic analyst surveyed by Refinitiv has a price target for AMC that's more than 70% below the current share price.\nBut isn't AMC's business picking up? Yep. The easing of restrictions has enabled the company to reopen 99% of its U.S. theaters. AMC could benefit as seating capacity limitations imposed by state and local governments are raised. Thereleases of multiple movies this summerand later this year that are likely to be hits should also help.\nHowever, Wall Street clearly believes that AMC's share price has gotten way ahead of its business prospects. The stock is trading at nearly eight times higher than it was before the COVID-19 pandemic.\nClover Health Investments\nOnly a few days ago, it looked like Clover Health Investments(NASDAQ:CLOV)might push AMC to the side as the hottest meme stock. Retail investors viewed Clover as a primeshort squeezecandidate.\nSince the beginning of June, shares of Clover Health have jumped more than 65%. Analysts, however, don't expect those gains to last. The average price target for the stock is 25% below the current share price.\nClover Health's valuation does seem to have gotten out of hand. The healthcare stock currently trades at more than 170 times trailing-12-month sales. That's a nosebleed level, especially considering that the company is the subject of investigations by the U.S. Department of Justice and the Securities and Exchange Commission.\nStill, Clover Health could deliver improving financial results this year. The company hopes to significantly increase its membership by targeting the original Medicare program. This represents a major new market opportunity in addition to its current Medicare Advantage business.\nSundial Growers\nAt one point earlier this year, Sundial Growers(NASDAQ:SNDL)appeared to be a legitimate contender to become the biggest winner among meme stocks. The Canadian marijuana stock vaulted more than 520% higher year to date before giving up much of its gains. However, Sundial's share price has still more than doubled in 2021.\nAnalysts anticipate that the pot stock could fall even further. The consensus price target for Sundial reflects a 23% discount to its current share price. One analyst even thinks the stock could sink 55%.\nThere certainly are reasons to be pessimistic about Sundial's core cannabis business. The company's net cannabis revenue fell year over year in the first quarter of 2021. Although Sundial is taking steps that it hopes will turn things around, it remains to be seen if those efforts will succeed.\nSundial's business deals could give investors reasons for optimism. After all, the company posted positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in Q1 due to its investments.\nHowever, the cash that Sundial is using to make these investments has come at the cost of increased dilution of its stock. The company can't afford any additional dilution without having to resort to desperate measures to keep its listing on the Nasdaq stock exchange.","news_type":1,"symbols_score_info":{"CLOV":0.9,"AMC":0.9,"SNDL":0.9}},"isVote":1,"tweetType":1,"viewCount":1902,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166438442,"gmtCreate":1624021777586,"gmtModify":1634024008840,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"Nice sharing. Thank you","listText":"Nice sharing. Thank you","text":"Nice sharing. Thank you","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166438442","repostId":"1148576248","repostType":4,"repost":{"id":"1148576248","kind":"news","pubTimestamp":1623979883,"share":"https://www.laohu8.com/m/news/1148576248?lang=zh_CN&edition=full","pubTime":"2021-06-18 09:31","market":"us","language":"en","title":"NIO Is Winning<blockquote>蔚来正在获胜</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1148576248","media":"seekingalpha","summary":"NIO is #1 in China's electric SUV market for good reason.The company's success is driven by its brilliant innovations and marketing strategy.NIO is growing faster than Tesla, and yet, it is trading at a discount.NIO Inc.  stands out for its strong market position- #1 market share in electric SUV in China- and innovation in the rapidly growing and highly competitive electric vehicle industry. This article will discuss why NIO is winning against some stiff competition, including against Tesla .In ","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>NIO is #1 in China's electric SUV market for good reason.</li>  <li>The company's success is driven by its brilliant innovations and marketing strategy.</li>  <li>NIO is growing faster than Tesla, and yet, it is trading at a discount.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/790fae23b830463fec748d2deb2ce336\" tg-width=\"1536\" tg-height=\"1024\" referrerpolicy=\"no-referrer\"><span>PonyWang/E+ via Getty Images</span></p><p><blockquote><ul><li>蔚来在中国电动SUV市场排名第一是有充分理由的。</li><li>该公司的成功是由其出色的创新和营销策略推动的。</li><li>蔚来的增长速度快于特斯拉，但它的交易价格却有折扣。</li></ul><p class=\"t-img-caption\"><span>PonyWang/E+来自Getty Images</span></p></blockquote></p><p> NIO Inc. (NYSE:NIO) stands out for its strong market position- #1 market share in electric SUV in China- and innovation in the rapidly growing and highly competitive electric vehicle industry. This article will discuss why NIO is winning against some stiff competition, including against Tesla (TSLA).</p><p><blockquote>蔚来（纽约证券交易所代码：蔚来）因其强大的市场地位——在中国电动SUV市场份额第一——以及在快速增长和竞争激烈的电动汽车行业的创新而脱颖而出。本文将讨论为什么蔚来在一些激烈的竞争中获胜，包括特斯拉(TSLA)。</blockquote></p><p> In addition, we will discuss NIO's business, financials, trading, valuation, and risks so readers could reach their own informed decision.</p><p><blockquote>此外，我们将讨论蔚来的业务、财务、交易、估值和风险，以便读者能够做出自己明智的决定。</blockquote></p><p> <b>Business: Why NIO Wins</b></p><p><blockquote><b>商业：蔚来为何获胜</b></blockquote></p><p> NIO positions itself in the premium SUV segment, focusing on smart EVs with a differentiated battery strategy.</p><p><blockquote>蔚来将自己定位于高端SUV领域，专注于智能电动汽车，采用差异化的电池策略。</blockquote></p><p> Delivered in March 2019, the company's first model, the ES8, is a luxury 7-seater SUV that is still the company's flagship product today. The ES8 is equipped with ADAS and AI system [NOMI] and is comparable to the BYD Song, Tesla Model X, the Audi Q7 45 e-Tron, etc.</p><p><blockquote>该公司的首款车型ES8于2019年3月交付，是一款豪华7座SUV，至今仍是该公司的旗舰产品。ES8配备ADAS和AI系统[NOMI]，可与比亚迪宋、特斯拉Model X、奥迪Q7 45 e-Tron等媲美。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/443e2773f70c00c6faac8ca063e978a5\" tg-width=\"640\" tg-height=\"387\" referrerpolicy=\"no-referrer\"><span>Source: Company</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：公司</span></p></blockquote></p><p> Leveraging the installed base and customer goodwill due to the highly successful ES8, NIO successfully launched the ES6 and EC6.Recently, the company launched the ET7, its first sedan.</p><p><blockquote>凭借ES8大获成功带来的装机量和客户好感，蔚来成功推出了ES6和EC6。近日，该公司推出了首款轿车ET7。</blockquote></p><p> Today, NIO is the top-selling brand in China's all-electric SUV market in April with a 23% market share, higher than Tesla's 17%, WM Motor and XPeng Motors'(NYSE:XPEV)7%, according to China Automotive Technology and Research Center data.</p><p><blockquote>根据中国汽车技术研究中心的数据，如今，蔚来以23%的市场份额成为4月份中国全电动SUV市场最畅销的品牌，高于特斯拉的17%、威马汽车和小鹏汽车（纽约证券交易所代码：XPEV）的7%。</blockquote></p><p> One of the biggest competitive differentiators is NIO'sbattery strategy, which all but eliminates range anxiety, one of the biggest barriers to mass EV adoption. Not only could NIO cars be charged at any charging station for EVs, but the company also built hundreds of battery swapping stations in key cities in China, with plans to expanding to Europe.</p><p><blockquote>最大的竞争优势之一是蔚来的电池战略，该战略几乎消除了里程焦虑，而里程焦虑是电动汽车大规模采用的最大障碍之一。蔚来汽车不仅可以在任何电动汽车充电站充电，而且该公司还在国内主要城市建设了数百个电池交换站，并计划扩展到欧洲。</blockquote></p><p> NIO's battery swapping strategy also gives the company the ability to offer a battery-as-a-service [BaaS] solution, which reduces the upfrontcostof purchasing an NIO vehicle by ~$11,000. Since cost is another major barrier to mass EV adoption, NIO's battery strategy appears brilliant as it solves both the range and cost problems.</p><p><blockquote>蔚来的电池交换战略还使该公司能够提供电池即服务[BaaS]解决方案，从而将购买蔚来汽车的前期成本降低约11,000美元。由于成本是电动汽车大规模采用的另一个主要障碍，蔚来的电池战略似乎很出色，因为它解决了续航里程和成本问题。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5b25fbb85bffd39310cd27cbb2bde57a\" tg-width=\"640\" tg-height=\"216\" referrerpolicy=\"no-referrer\"><span>Source: Company</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：公司</span></p></blockquote></p><p> Another differentiator is the NIO brand, which management created brilliantly by introducing the EP9 in 2016. Six EP9s have been sold to NIO investors for 2.5 million pounds, creating an aura of exclusivity and quality around the brand. Next, NIO targeted the mass-market luxury SUV segment with the ES8, firmly establishing the company as a luxury car OEM.</p><p><blockquote>另一个差异化因素是蔚来品牌，管理层在2016年推出了EP9，从而出色地创造了该品牌。六辆EP9已以250万英镑的价格出售给蔚来投资者，为该品牌营造了一种独特和品质的氛围。接下来，蔚来凭借ES8瞄准了大众市场豪华SUV细分市场，牢牢确立了该公司作为豪华汽车OEM的地位。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ad41c960ce02f1e3f3e7575ac00beee0\" tg-width=\"640\" tg-height=\"350\" referrerpolicy=\"no-referrer\"><span>Source: Company</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：公司</span></p></blockquote></p><p> Chinese companies must struggle against the common perception that they make low-quality products. This is the same perception issue that Japanese companies faced following their defeat after WW2. Japan solved this problem by moving up the value chain as their economy matured and creating high-quality brands such as Sony(NYSE:SONY). Today, Japan is known for its craftsmanship.</p><p><blockquote>中国企业必须与人们普遍认为他们生产的产品质量低的看法作斗争。这与日本公司在二战后战败后面临的认知问题相同。随着经济的成熟，日本通过向价值链上游移动并创建索尼（纽约证券交易所代码：SONY）等高质量品牌来解决这个问题。今天，日本以其工艺而闻名。</blockquote></p><p> China is following the same trajectory, and NIO is one of the emerging brands destroying the perception that \"made in China\" equates to poor quality. I strongly believe that investors who stubbornly hold on to that old perception will miss out on investing in some of the greatest brands the world will ever see.</p><p><blockquote>中国也在遵循同样的轨迹，蔚来是摧毁“中国制造”等同于劣质观念的新兴品牌之一。我坚信，顽固坚持这种旧观念的投资者将错过投资世界上一些最伟大品牌的机会。</blockquote></p><p> Buying an NIO car means much more than just getting a vehicle; it means getting into an exclusive club of services and convenience. Benefits include access to hundreds of swapping stations, lifetime free roadside rescue (including charge vans), lifetime free cellular connectivity, lifetime free warranty, and excellent customer service. This is a powerful selling point for NIO, differentiating it from Tesla, which hasrecentlydeveloped a poor reputation on the customer service front in China.</p><p><blockquote>购买蔚来汽车不仅仅意味着获得一辆车；这意味着进入一个服务和便利的专属俱乐部。好处包括使用数百个交换站、终身免费路边救援（包括充电车）、终身免费蜂窝连接、终身免费保修和卓越的客户服务。这是蔚来的一个强大卖点，使其有别于特斯拉，后者最近在中国的客户服务方面名声不佳。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a73482aa0431694b760ab5c2d0aa6f53\" tg-width=\"640\" tg-height=\"211\" referrerpolicy=\"no-referrer\"><span>Source: Company</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：公司</span></p></blockquote></p><p></p><p> The company is pushing the envelope even further with&nbsp;NIO House, a literal clubhouse for customers, and&nbsp;NIO Life, which includes NIO branded lifestyle products. NIO's effort to build a lifestyle around its cars seems to be&nbsp;working. This is good news for investors because the only way to escape the competitive battlefield of automobile OEM is to sell services and lifestyles to customers. This is why Ferrari's (RACE) operating margin is well over 20%, while Ford (F) and General Motors (GM) are in the single digits.</p><p><blockquote>该公司正在进一步挑战极限，推出了蔚来之家（London House）（一个真正的顾客俱乐部会所）和蔚来人寿（Kenneth Life），其中包括蔚来品牌的生活方式产品。蔚来围绕汽车打造生活方式的努力似乎正在发挥作用。这对投资者来说是个好消息，因为逃离汽车代工竞争战场的唯一方法就是向客户推销服务和生活方式。这就是为什么法拉利(RACE)的营业利润率远高于20%，而福特(F)和通用汽车(GM)则为个位数。</blockquote></p><p> <b>Financials &amp; Valuation</b></p><p><blockquote><b>财务与估值</b></blockquote></p><p> NIO is in hyper-growth mode. In 2020, the company generated $2.5 billion in revenue, up 126% y/y. In 2021, the company is expected to grow 117% y/y to $5.4 billion.</p><p><blockquote>蔚来正处于高速增长模式。2020年，该公司实现收入25亿美元，同比增长126%。2021年，该公司预计将同比增长117%，达到54亿美元。</blockquote></p><p> The company is not yet profitable but is expected to be by 2022. Gross margin only turned positive in 2020 and is expected to be 19.3% in 2021. EBITDA is expected to be negative $258 million in 2021 and a positive $206 million in 2022. Free cash flow is expected to be negative $42 million in 2021 before turning to a positive $354 million in 2022.</p><p><blockquote>该公司尚未盈利，但预计到2022年将实现盈利。毛利率仅在2020年转正，预计2021年为19.3%。预计2021年EBITDA为负2.58亿美元，2022年为正2.06亿美元。预计2021年自由现金流将为负4200万美元，然后在2022年转为正3.54亿美元。</blockquote></p><p> However, despite the cash burn expected in 2021, investors should feel at ease since the company exited&nbsp;2020&nbsp;with $5.9 billion of cash and cash equivalents. Including $600 million in short-term investments and subtracting ~$2.1 billion in debt and operating leases and the expected negative free cash flow in 2021, NIO should exit 2021 with over $4 billion in net cash and investments. That is plenty of buffers since NIO is expected to generate positive free cash flow in 2022.</p><p><blockquote>然而，尽管预计2021年将出现现金消耗，但投资者应该感到放心，因为该公司在2020年退出时拥有59亿美元的现金和现金等价物。包括6亿美元的短期投资，减去约21亿美元的债务和经营租赁以及2021年预期的负自由现金流，蔚来在2021年退出时应拥有超过40亿美元的净现金和投资。这是足够的缓冲，因为蔚来预计将在2022年产生正的自由现金流。</blockquote></p><p> Since NIO is not yet profitable, we will look at the forward EV/Sales multiple as is typical for hyper-growth companies not yet generating a profit. The company went public in September 2018, trading at around 7 to 8 times EV/Sales, before bottoming out at around 0.7 times sales in May 2019. The market, however, caught the EV fever in April 2020 and sent NIO's valuation soaring to a peak of 14.6x by January 2021. After the growth sell-off we recently experienced, NIO is currently sitting at a much more reasonable 8 times forward sales. This is a significant discount to TSLA's 10.2 times forward EV/Sales despite growing twice as fast (TSLA is expected to grow revenues by 57% in 2021 compared to NIO's 117%).</p><p><blockquote>由于蔚来尚未盈利，我们将关注预期EV/销售额倍数，这对于尚未盈利的高速增长公司来说是典型的。该公司于2018年9月上市，交易价格约为EV/销售额的7至8倍，随后于2019年5月触底，约为销售额的0.7倍。然而，市场在2020年4月掀起了电动汽车热潮，到2021年1月，蔚来的估值飙升至14.6倍的峰值。在我们最近经历的增长抛售之后，蔚来目前的预期销售额为8倍，这要合理得多。尽管TSLA的增长速度是其两倍，但这与TSLA 10.2倍的预期EV/销售额相比仍有很大折扣（预计TSLA 2021年收入将增长57%，而蔚来为117%）。</blockquote></p><p> <b>Risks</b></p><p><blockquote><b>风险</b></blockquote></p><p> There are many risks associated with owning NIO.</p><p><blockquote>拥有蔚来有很多风险。</blockquote></p><p> Although its battery swapping strategy is highly differentiated and seems to be growing rapidly, the jury is still out on the ultimate market share of battery swapping or fast-charging infrastructure. If fast charging technology continues to advance significantly, it will likely erode a key advantage of battery swapping: speed.</p><p><blockquote>尽管其换电战略高度差异化，且似乎增长迅速，但换电或快充基础设施的最终市场份额仍未定论。如果快速充电技术继续大幅进步，很可能会侵蚀电池交换的一个关键优势：速度。</blockquote></p><p> NIO's business model is innovative and new. Unfortunately, the flip side of that is that it is untested, and NIO remains unprofitable. For many investors, NIO will remain a \"show me\" story until the profitability of its business model improves.</p><p><blockquote>蔚来的商业模式是创新和新的。不幸的是，另一方面是它未经测试，蔚来仍然没有盈利。对于许多投资者来说，在其商业模式的盈利能力改善之前，蔚来仍将是一个“向我展示”的故事。</blockquote></p><p> NIO's ability to expand globally may be limited by the rising geopolitical tension between China and the US, and to a lesser extent, with Japan and Europe. The geopolitical situation remains highly opaque and uncertain, and is a risk factor for all auto OEMs.</p><p><blockquote>蔚来在全球扩张的能力可能会受到中美之间地缘政治紧张局势加剧的限制，在较小程度上也会受到与日欧之间地缘政治紧张局势的限制。地缘政治局势仍然高度不透明和不确定，是所有汽车原始设备制造商的风险因素。</blockquote></p><p> Auto OEMs are currently facing a severe chip&nbsp;shortage. In addition, the chip density in automobiles is increasing, making the OEMs increasingly reliant on semiconductor suppliers and foundries.</p><p><blockquote>汽车主机厂目前正面临严重的芯片短缺。此外，汽车中的芯片密度正在增加，使得原始设备制造商越来越依赖半导体供应商和代工厂。</blockquote></p><p> NIO's competitive advantages may not overcome the massive scale advantage of ICE OEMs and much bigger EV players like Tesla and China's BYD.</p><p><blockquote>蔚来的竞争优势可能无法克服内燃机原始设备制造商以及特斯拉和比亚迪等更大的电动汽车制造商的巨大规模优势。</blockquote></p><p> <b>Takeaway</b></p><p><blockquote><b>外卖</b></blockquote></p><p> NIO's technical and business model innovations make it a highly differentiated company in the exciting and rapidly growing EV market. The company is winning, and its competitive moat is getting bigger as its ecosystem of vehicles and services grows. Relative to the industry leader, Tesla, NIO's stock price seems like a bargain given its faster growth rate and lower multiples.</p><p><blockquote>蔚来的技术和商业模式创新使其在令人兴奋且快速增长的电动汽车市场中成为一家高度差异化的公司。该公司正在获胜，随着其车辆和服务生态系统的发展，其竞争护城河也越来越大。相对于行业领导者特斯拉，鉴于其更快的增长率和更低的市盈率，蔚来的股价似乎很便宜。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO Is Winning<blockquote>蔚来正在获胜</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO Is Winning<blockquote>蔚来正在获胜</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-18 09:31</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>NIO is #1 in China's electric SUV market for good reason.</li>  <li>The company's success is driven by its brilliant innovations and marketing strategy.</li>  <li>NIO is growing faster than Tesla, and yet, it is trading at a discount.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/790fae23b830463fec748d2deb2ce336\" tg-width=\"1536\" tg-height=\"1024\" referrerpolicy=\"no-referrer\"><span>PonyWang/E+ via Getty Images</span></p><p><blockquote><ul><li>蔚来在中国电动SUV市场排名第一是有充分理由的。</li><li>该公司的成功是由其出色的创新和营销策略推动的。</li><li>蔚来的增长速度快于特斯拉，但它的交易价格却有折扣。</li></ul><p class=\"t-img-caption\"><span>PonyWang/E+来自Getty Images</span></p></blockquote></p><p> NIO Inc. (NYSE:NIO) stands out for its strong market position- #1 market share in electric SUV in China- and innovation in the rapidly growing and highly competitive electric vehicle industry. This article will discuss why NIO is winning against some stiff competition, including against Tesla (TSLA).</p><p><blockquote>蔚来（纽约证券交易所代码：蔚来）因其强大的市场地位——在中国电动SUV市场份额第一——以及在快速增长和竞争激烈的电动汽车行业的创新而脱颖而出。本文将讨论为什么蔚来在一些激烈的竞争中获胜，包括特斯拉(TSLA)。</blockquote></p><p> In addition, we will discuss NIO's business, financials, trading, valuation, and risks so readers could reach their own informed decision.</p><p><blockquote>此外，我们将讨论蔚来的业务、财务、交易、估值和风险，以便读者能够做出自己明智的决定。</blockquote></p><p> <b>Business: Why NIO Wins</b></p><p><blockquote><b>商业：蔚来为何获胜</b></blockquote></p><p> NIO positions itself in the premium SUV segment, focusing on smart EVs with a differentiated battery strategy.</p><p><blockquote>蔚来将自己定位于高端SUV领域，专注于智能电动汽车，采用差异化的电池策略。</blockquote></p><p> Delivered in March 2019, the company's first model, the ES8, is a luxury 7-seater SUV that is still the company's flagship product today. The ES8 is equipped with ADAS and AI system [NOMI] and is comparable to the BYD Song, Tesla Model X, the Audi Q7 45 e-Tron, etc.</p><p><blockquote>该公司的首款车型ES8于2019年3月交付，是一款豪华7座SUV，至今仍是该公司的旗舰产品。ES8配备ADAS和AI系统[NOMI]，可与比亚迪宋、特斯拉Model X、奥迪Q7 45 e-Tron等媲美。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/443e2773f70c00c6faac8ca063e978a5\" tg-width=\"640\" tg-height=\"387\" referrerpolicy=\"no-referrer\"><span>Source: Company</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：公司</span></p></blockquote></p><p> Leveraging the installed base and customer goodwill due to the highly successful ES8, NIO successfully launched the ES6 and EC6.Recently, the company launched the ET7, its first sedan.</p><p><blockquote>凭借ES8大获成功带来的装机量和客户好感，蔚来成功推出了ES6和EC6。近日，该公司推出了首款轿车ET7。</blockquote></p><p> Today, NIO is the top-selling brand in China's all-electric SUV market in April with a 23% market share, higher than Tesla's 17%, WM Motor and XPeng Motors'(NYSE:XPEV)7%, according to China Automotive Technology and Research Center data.</p><p><blockquote>根据中国汽车技术研究中心的数据，如今，蔚来以23%的市场份额成为4月份中国全电动SUV市场最畅销的品牌，高于特斯拉的17%、威马汽车和小鹏汽车（纽约证券交易所代码：XPEV）的7%。</blockquote></p><p> One of the biggest competitive differentiators is NIO'sbattery strategy, which all but eliminates range anxiety, one of the biggest barriers to mass EV adoption. Not only could NIO cars be charged at any charging station for EVs, but the company also built hundreds of battery swapping stations in key cities in China, with plans to expanding to Europe.</p><p><blockquote>最大的竞争优势之一是蔚来的电池战略，该战略几乎消除了里程焦虑，而里程焦虑是电动汽车大规模采用的最大障碍之一。蔚来汽车不仅可以在任何电动汽车充电站充电，而且该公司还在国内主要城市建设了数百个电池交换站，并计划扩展到欧洲。</blockquote></p><p> NIO's battery swapping strategy also gives the company the ability to offer a battery-as-a-service [BaaS] solution, which reduces the upfrontcostof purchasing an NIO vehicle by ~$11,000. Since cost is another major barrier to mass EV adoption, NIO's battery strategy appears brilliant as it solves both the range and cost problems.</p><p><blockquote>蔚来的电池交换战略还使该公司能够提供电池即服务[BaaS]解决方案，从而将购买蔚来汽车的前期成本降低约11,000美元。由于成本是电动汽车大规模采用的另一个主要障碍，蔚来的电池战略似乎很出色，因为它解决了续航里程和成本问题。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5b25fbb85bffd39310cd27cbb2bde57a\" tg-width=\"640\" tg-height=\"216\" referrerpolicy=\"no-referrer\"><span>Source: Company</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：公司</span></p></blockquote></p><p> Another differentiator is the NIO brand, which management created brilliantly by introducing the EP9 in 2016. Six EP9s have been sold to NIO investors for 2.5 million pounds, creating an aura of exclusivity and quality around the brand. Next, NIO targeted the mass-market luxury SUV segment with the ES8, firmly establishing the company as a luxury car OEM.</p><p><blockquote>另一个差异化因素是蔚来品牌，管理层在2016年推出了EP9，从而出色地创造了该品牌。六辆EP9已以250万英镑的价格出售给蔚来投资者，为该品牌营造了一种独特和品质的氛围。接下来，蔚来凭借ES8瞄准了大众市场豪华SUV细分市场，牢牢确立了该公司作为豪华汽车OEM的地位。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ad41c960ce02f1e3f3e7575ac00beee0\" tg-width=\"640\" tg-height=\"350\" referrerpolicy=\"no-referrer\"><span>Source: Company</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：公司</span></p></blockquote></p><p> Chinese companies must struggle against the common perception that they make low-quality products. This is the same perception issue that Japanese companies faced following their defeat after WW2. Japan solved this problem by moving up the value chain as their economy matured and creating high-quality brands such as Sony(NYSE:SONY). Today, Japan is known for its craftsmanship.</p><p><blockquote>中国企业必须与人们普遍认为他们生产的产品质量低的看法作斗争。这与日本公司在二战后战败后面临的认知问题相同。随着经济的成熟，日本通过向价值链上游移动并创建索尼（纽约证券交易所代码：SONY）等高质量品牌来解决这个问题。今天，日本以其工艺而闻名。</blockquote></p><p> China is following the same trajectory, and NIO is one of the emerging brands destroying the perception that \"made in China\" equates to poor quality. I strongly believe that investors who stubbornly hold on to that old perception will miss out on investing in some of the greatest brands the world will ever see.</p><p><blockquote>中国也在遵循同样的轨迹，蔚来是摧毁“中国制造”等同于劣质观念的新兴品牌之一。我坚信，顽固坚持这种旧观念的投资者将错过投资世界上一些最伟大品牌的机会。</blockquote></p><p> Buying an NIO car means much more than just getting a vehicle; it means getting into an exclusive club of services and convenience. Benefits include access to hundreds of swapping stations, lifetime free roadside rescue (including charge vans), lifetime free cellular connectivity, lifetime free warranty, and excellent customer service. This is a powerful selling point for NIO, differentiating it from Tesla, which hasrecentlydeveloped a poor reputation on the customer service front in China.</p><p><blockquote>购买蔚来汽车不仅仅意味着获得一辆车；这意味着进入一个服务和便利的专属俱乐部。好处包括使用数百个交换站、终身免费路边救援（包括充电车）、终身免费蜂窝连接、终身免费保修和卓越的客户服务。这是蔚来的一个强大卖点，使其有别于特斯拉，后者最近在中国的客户服务方面名声不佳。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a73482aa0431694b760ab5c2d0aa6f53\" tg-width=\"640\" tg-height=\"211\" referrerpolicy=\"no-referrer\"><span>Source: Company</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：公司</span></p></blockquote></p><p></p><p> The company is pushing the envelope even further with&nbsp;NIO House, a literal clubhouse for customers, and&nbsp;NIO Life, which includes NIO branded lifestyle products. NIO's effort to build a lifestyle around its cars seems to be&nbsp;working. This is good news for investors because the only way to escape the competitive battlefield of automobile OEM is to sell services and lifestyles to customers. This is why Ferrari's (RACE) operating margin is well over 20%, while Ford (F) and General Motors (GM) are in the single digits.</p><p><blockquote>该公司正在进一步挑战极限，推出了蔚来之家（London House）（一个真正的顾客俱乐部会所）和蔚来人寿（Kenneth Life），其中包括蔚来品牌的生活方式产品。蔚来围绕汽车打造生活方式的努力似乎正在发挥作用。这对投资者来说是个好消息，因为逃离汽车代工竞争战场的唯一方法就是向客户推销服务和生活方式。这就是为什么法拉利(RACE)的营业利润率远高于20%，而福特(F)和通用汽车(GM)则为个位数。</blockquote></p><p> <b>Financials &amp; Valuation</b></p><p><blockquote><b>财务与估值</b></blockquote></p><p> NIO is in hyper-growth mode. In 2020, the company generated $2.5 billion in revenue, up 126% y/y. In 2021, the company is expected to grow 117% y/y to $5.4 billion.</p><p><blockquote>蔚来正处于高速增长模式。2020年，该公司实现收入25亿美元，同比增长126%。2021年，该公司预计将同比增长117%，达到54亿美元。</blockquote></p><p> The company is not yet profitable but is expected to be by 2022. Gross margin only turned positive in 2020 and is expected to be 19.3% in 2021. EBITDA is expected to be negative $258 million in 2021 and a positive $206 million in 2022. Free cash flow is expected to be negative $42 million in 2021 before turning to a positive $354 million in 2022.</p><p><blockquote>该公司尚未盈利，但预计到2022年将实现盈利。毛利率仅在2020年转正，预计2021年为19.3%。预计2021年EBITDA为负2.58亿美元，2022年为正2.06亿美元。预计2021年自由现金流将为负4200万美元，然后在2022年转为正3.54亿美元。</blockquote></p><p> However, despite the cash burn expected in 2021, investors should feel at ease since the company exited&nbsp;2020&nbsp;with $5.9 billion of cash and cash equivalents. Including $600 million in short-term investments and subtracting ~$2.1 billion in debt and operating leases and the expected negative free cash flow in 2021, NIO should exit 2021 with over $4 billion in net cash and investments. That is plenty of buffers since NIO is expected to generate positive free cash flow in 2022.</p><p><blockquote>然而，尽管预计2021年将出现现金消耗，但投资者应该感到放心，因为该公司在2020年退出时拥有59亿美元的现金和现金等价物。包括6亿美元的短期投资，减去约21亿美元的债务和经营租赁以及2021年预期的负自由现金流，蔚来在2021年退出时应拥有超过40亿美元的净现金和投资。这是足够的缓冲，因为蔚来预计将在2022年产生正的自由现金流。</blockquote></p><p> Since NIO is not yet profitable, we will look at the forward EV/Sales multiple as is typical for hyper-growth companies not yet generating a profit. The company went public in September 2018, trading at around 7 to 8 times EV/Sales, before bottoming out at around 0.7 times sales in May 2019. The market, however, caught the EV fever in April 2020 and sent NIO's valuation soaring to a peak of 14.6x by January 2021. After the growth sell-off we recently experienced, NIO is currently sitting at a much more reasonable 8 times forward sales. This is a significant discount to TSLA's 10.2 times forward EV/Sales despite growing twice as fast (TSLA is expected to grow revenues by 57% in 2021 compared to NIO's 117%).</p><p><blockquote>由于蔚来尚未盈利，我们将关注预期EV/销售额倍数，这对于尚未盈利的高速增长公司来说是典型的。该公司于2018年9月上市，交易价格约为EV/销售额的7至8倍，随后于2019年5月触底，约为销售额的0.7倍。然而，市场在2020年4月掀起了电动汽车热潮，到2021年1月，蔚来的估值飙升至14.6倍的峰值。在我们最近经历的增长抛售之后，蔚来目前的预期销售额为8倍，这要合理得多。尽管TSLA的增长速度是其两倍，但这与TSLA 10.2倍的预期EV/销售额相比仍有很大折扣（预计TSLA 2021年收入将增长57%，而蔚来为117%）。</blockquote></p><p> <b>Risks</b></p><p><blockquote><b>风险</b></blockquote></p><p> There are many risks associated with owning NIO.</p><p><blockquote>拥有蔚来有很多风险。</blockquote></p><p> Although its battery swapping strategy is highly differentiated and seems to be growing rapidly, the jury is still out on the ultimate market share of battery swapping or fast-charging infrastructure. If fast charging technology continues to advance significantly, it will likely erode a key advantage of battery swapping: speed.</p><p><blockquote>尽管其换电战略高度差异化，且似乎增长迅速，但换电或快充基础设施的最终市场份额仍未定论。如果快速充电技术继续大幅进步，很可能会侵蚀电池交换的一个关键优势：速度。</blockquote></p><p> NIO's business model is innovative and new. Unfortunately, the flip side of that is that it is untested, and NIO remains unprofitable. For many investors, NIO will remain a \"show me\" story until the profitability of its business model improves.</p><p><blockquote>蔚来的商业模式是创新和新的。不幸的是，另一方面是它未经测试，蔚来仍然没有盈利。对于许多投资者来说，在其商业模式的盈利能力改善之前，蔚来仍将是一个“向我展示”的故事。</blockquote></p><p> NIO's ability to expand globally may be limited by the rising geopolitical tension between China and the US, and to a lesser extent, with Japan and Europe. The geopolitical situation remains highly opaque and uncertain, and is a risk factor for all auto OEMs.</p><p><blockquote>蔚来在全球扩张的能力可能会受到中美之间地缘政治紧张局势加剧的限制，在较小程度上也会受到与日欧之间地缘政治紧张局势的限制。地缘政治局势仍然高度不透明和不确定，是所有汽车原始设备制造商的风险因素。</blockquote></p><p> Auto OEMs are currently facing a severe chip&nbsp;shortage. In addition, the chip density in automobiles is increasing, making the OEMs increasingly reliant on semiconductor suppliers and foundries.</p><p><blockquote>汽车主机厂目前正面临严重的芯片短缺。此外，汽车中的芯片密度正在增加，使得原始设备制造商越来越依赖半导体供应商和代工厂。</blockquote></p><p> NIO's competitive advantages may not overcome the massive scale advantage of ICE OEMs and much bigger EV players like Tesla and China's BYD.</p><p><blockquote>蔚来的竞争优势可能无法克服内燃机原始设备制造商以及特斯拉和比亚迪等更大的电动汽车制造商的巨大规模优势。</blockquote></p><p> <b>Takeaway</b></p><p><blockquote><b>外卖</b></blockquote></p><p> NIO's technical and business model innovations make it a highly differentiated company in the exciting and rapidly growing EV market. The company is winning, and its competitive moat is getting bigger as its ecosystem of vehicles and services grows. Relative to the industry leader, Tesla, NIO's stock price seems like a bargain given its faster growth rate and lower multiples.</p><p><blockquote>蔚来的技术和商业模式创新使其在令人兴奋且快速增长的电动汽车市场中成为一家高度差异化的公司。该公司正在获胜，随着其车辆和服务生态系统的发展，其竞争护城河也越来越大。相对于行业领导者特斯拉，鉴于其更快的增长率和更低的市盈率，蔚来的股价似乎很便宜。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4435341-nio-is-winning\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4435341-nio-is-winning","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148576248","content_text":"Summary\n\nNIO is #1 in China's electric SUV market for good reason.\nThe company's success is driven by its brilliant innovations and marketing strategy.\nNIO is growing faster than Tesla, and yet, it is trading at a discount.\n\nPonyWang/E+ via Getty Images\nNIO Inc. (NYSE:NIO) stands out for its strong market position- #1 market share in electric SUV in China- and innovation in the rapidly growing and highly competitive electric vehicle industry. This article will discuss why NIO is winning against some stiff competition, including against Tesla (TSLA).\nIn addition, we will discuss NIO's business, financials, trading, valuation, and risks so readers could reach their own informed decision.\nBusiness: Why NIO Wins\nNIO positions itself in the premium SUV segment, focusing on smart EVs with a differentiated battery strategy.\nDelivered in March 2019, the company's first model, the ES8, is a luxury 7-seater SUV that is still the company's flagship product today. The ES8 is equipped with ADAS and AI system [NOMI] and is comparable to the BYD Song, Tesla Model X, the Audi Q7 45 e-Tron, etc.\nSource: Company\nLeveraging the installed base and customer goodwill due to the highly successful ES8, NIO successfully launched the ES6 and EC6.Recently, the company launched the ET7, its first sedan.\nToday, NIO is the top-selling brand in China's all-electric SUV market in April with a 23% market share, higher than Tesla's 17%, WM Motor and XPeng Motors'(NYSE:XPEV)7%, according to China Automotive Technology and Research Center data.\nOne of the biggest competitive differentiators is NIO'sbattery strategy, which all but eliminates range anxiety, one of the biggest barriers to mass EV adoption. Not only could NIO cars be charged at any charging station for EVs, but the company also built hundreds of battery swapping stations in key cities in China, with plans to expanding to Europe.\nNIO's battery swapping strategy also gives the company the ability to offer a battery-as-a-service [BaaS] solution, which reduces the upfrontcostof purchasing an NIO vehicle by ~$11,000. Since cost is another major barrier to mass EV adoption, NIO's battery strategy appears brilliant as it solves both the range and cost problems.\nSource: Company\nAnother differentiator is the NIO brand, which management created brilliantly by introducing the EP9 in 2016. Six EP9s have been sold to NIO investors for 2.5 million pounds, creating an aura of exclusivity and quality around the brand. Next, NIO targeted the mass-market luxury SUV segment with the ES8, firmly establishing the company as a luxury car OEM.\nSource: Company\nChinese companies must struggle against the common perception that they make low-quality products. This is the same perception issue that Japanese companies faced following their defeat after WW2. Japan solved this problem by moving up the value chain as their economy matured and creating high-quality brands such as Sony(NYSE:SONY). Today, Japan is known for its craftsmanship.\nChina is following the same trajectory, and NIO is one of the emerging brands destroying the perception that \"made in China\" equates to poor quality. I strongly believe that investors who stubbornly hold on to that old perception will miss out on investing in some of the greatest brands the world will ever see.\nBuying an NIO car means much more than just getting a vehicle; it means getting into an exclusive club of services and convenience. Benefits include access to hundreds of swapping stations, lifetime free roadside rescue (including charge vans), lifetime free cellular connectivity, lifetime free warranty, and excellent customer service. This is a powerful selling point for NIO, differentiating it from Tesla, which hasrecentlydeveloped a poor reputation on the customer service front in China.\nSource: Company\nThe company is pushing the envelope even further with NIO House, a literal clubhouse for customers, and NIO Life, which includes NIO branded lifestyle products. NIO's effort to build a lifestyle around its cars seems to be working. This is good news for investors because the only way to escape the competitive battlefield of automobile OEM is to sell services and lifestyles to customers. This is why Ferrari's (RACE) operating margin is well over 20%, while Ford (F) and General Motors (GM) are in the single digits.\nFinancials & Valuation\nNIO is in hyper-growth mode. In 2020, the company generated $2.5 billion in revenue, up 126% y/y. In 2021, the company is expected to grow 117% y/y to $5.4 billion.\nThe company is not yet profitable but is expected to be by 2022. Gross margin only turned positive in 2020 and is expected to be 19.3% in 2021. EBITDA is expected to be negative $258 million in 2021 and a positive $206 million in 2022. Free cash flow is expected to be negative $42 million in 2021 before turning to a positive $354 million in 2022.\nHowever, despite the cash burn expected in 2021, investors should feel at ease since the company exited 2020 with $5.9 billion of cash and cash equivalents. Including $600 million in short-term investments and subtracting ~$2.1 billion in debt and operating leases and the expected negative free cash flow in 2021, NIO should exit 2021 with over $4 billion in net cash and investments. That is plenty of buffers since NIO is expected to generate positive free cash flow in 2022.\nSince NIO is not yet profitable, we will look at the forward EV/Sales multiple as is typical for hyper-growth companies not yet generating a profit. The company went public in September 2018, trading at around 7 to 8 times EV/Sales, before bottoming out at around 0.7 times sales in May 2019. The market, however, caught the EV fever in April 2020 and sent NIO's valuation soaring to a peak of 14.6x by January 2021. After the growth sell-off we recently experienced, NIO is currently sitting at a much more reasonable 8 times forward sales. This is a significant discount to TSLA's 10.2 times forward EV/Sales despite growing twice as fast (TSLA is expected to grow revenues by 57% in 2021 compared to NIO's 117%).\nRisks\nThere are many risks associated with owning NIO.\nAlthough its battery swapping strategy is highly differentiated and seems to be growing rapidly, the jury is still out on the ultimate market share of battery swapping or fast-charging infrastructure. If fast charging technology continues to advance significantly, it will likely erode a key advantage of battery swapping: speed.\nNIO's business model is innovative and new. Unfortunately, the flip side of that is that it is untested, and NIO remains unprofitable. For many investors, NIO will remain a \"show me\" story until the profitability of its business model improves.\nNIO's ability to expand globally may be limited by the rising geopolitical tension between China and the US, and to a lesser extent, with Japan and Europe. The geopolitical situation remains highly opaque and uncertain, and is a risk factor for all auto OEMs.\nAuto OEMs are currently facing a severe chip shortage. In addition, the chip density in automobiles is increasing, making the OEMs increasingly reliant on semiconductor suppliers and foundries.\nNIO's competitive advantages may not overcome the massive scale advantage of ICE OEMs and much bigger EV players like Tesla and China's BYD.\nTakeaway\nNIO's technical and business model innovations make it a highly differentiated company in the exciting and rapidly growing EV market. The company is winning, and its competitive moat is getting bigger as its ecosystem of vehicles and services grows. Relative to the industry leader, Tesla, NIO's stock price seems like a bargain given its faster growth rate and lower multiples.","news_type":1,"symbols_score_info":{"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":737,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":168013105,"gmtCreate":1623943456807,"gmtModify":1634025483971,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"Nice article. Thank you&nbsp;","listText":"Nice article. Thank you&nbsp;","text":"Nice article. Thank you","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/168013105","repostId":"1162782159","repostType":4,"isVote":1,"tweetType":1,"viewCount":675,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":168010820,"gmtCreate":1623943418560,"gmtModify":1634025485611,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"Nice article. Thanks for sharing&nbsp;","listText":"Nice article. Thanks for sharing&nbsp;","text":"Nice article. Thanks for sharing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/168010820","repostId":"1175322624","repostType":4,"repost":{"id":"1175322624","kind":"news","pubTimestamp":1623940991,"share":"https://www.laohu8.com/m/news/1175322624?lang=zh_CN&edition=full","pubTime":"2021-06-17 22:43","market":"us","language":"en","title":"Fisker Jumps on EV-Production Pact With Magna International<blockquote>菲斯克与麦格纳国际签订电动汽车生产协议</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175322624","media":".thestreet","summary":"Fisker   was higher after it said it signed an agreement under which Magna International,  the mobility technology company, would produce its electric vehicles.As part of the partnership, Fisker's all-electric Ocean SUV is expected to start production at the Aurora, Ontario, company's facility in Graz, Austria, starting Nov. 17, 2022.\"From the start of this partnership, Fisker and Magna aligned very quickly on the importance of delivering a high-quality vehicle on time,\" Chief Executive Henrik F","content":"<p>Fisker&nbsp;(<b>FSR</b>) &nbsp;was higher after it&nbsp;said&nbsp;it signed an agreement under which Magna International,&nbsp;(<b>MGA</b>)&nbsp;the mobility technology company, would produce its electric vehicles.</p><p><blockquote>菲斯克（<b>FSR</b>）在表示签署了一项协议后，麦格纳国际（<b>MGA</b>）移动技术公司将生产其电动汽车。</blockquote></p><p> As part of the partnership, Fisker's all-electric Ocean SUV is expected to start production at the Aurora, Ontario, company's facility in Graz, Austria, starting Nov. 17, 2022.</p><p><blockquote>作为合作伙伴关系的一部分，Fisker的全电动Ocean SUV预计将于2022年11月17日开始在该公司位于奥地利格拉茨的安大略省奥罗拉工厂开始生产。</blockquote></p><p> \"From the start of this partnership, Fisker and Magna aligned very quickly on the importance of delivering a high-quality vehicle on time,\" Chief Executive Henrik Fisker said in a statement.</p><p><blockquote>首席执行官亨里克·菲斯克(Henrik Fisker)在一份声明中表示：“从合作伙伴关系一开始，菲斯克和麦格纳就在按时交付高质量车辆的重要性上迅速达成一致。”</blockquote></p><p> The Graz manufacturing facility has produced more than 3.7 million vehicles for several global automakers.</p><p><blockquote>格拉茨制造工厂已为多家全球汽车制造商生产了超过370万辆汽车。</blockquote></p><p> The agreement is \"broad-based\" covering planned volumes, manufacturing costs and quality metrics over the program's lifecycle which runs through 2029.</p><p><blockquote>该协议“基础广泛”，涵盖了该计划生命周期（直至2029年）的计划数量、制造成本和质量指标。</blockquote></p><p> The Ocean SUV from the Los Angeles company will use a version of a Magna-developed electric-vehicle architecture. Fisker will modify that architecture to create new intellectual property that it expects to deliver \"class-leading range\" while also lowering manufacturing costs.</p><p><blockquote>这家洛杉矶公司的Ocean SUV将使用麦格纳开发的电动汽车架构版本。菲斯克将修改该架构以创建新的知识产权，预计将提供“一流的产品系列”，同时降低制造成本。</blockquote></p><p> Fisker now expects Ocean to enter the market with a starting list price of $37,499 in the U.S., excluding electric vehicle-related subsidies, and below&nbsp;€32,000 ($38,200) in Germany (including taxes and EV-related subsidies).</p><p><blockquote>Fisker目前预计Ocean进入市场的起价为37,499美元，不包括电动汽车相关补贴，在德国将低于32,000欧元（38,200美元）（包括税收和电动汽车相关补贴）。</blockquote></p><p> \"Our asset-lite model, reinforced by partners like Magna, is powering Fisker towards its planned delivery of the Ocean with features and functions exceeding our original aspirations,\" said Fisker. He added that the company is scaling rapidly.</p><p><blockquote>菲斯克表示：“在麦格纳等合作伙伴的支持下，我们的轻资产模式正在推动菲斯克按计划交付海洋，其特性和功能超出了我们最初的愿望。”他补充说，该公司正在迅速扩大规模。</blockquote></p><p> Fisker shares at last check were 3.1% higher at $18.29. Magna's shares traded on the New York Stock Exchange were off 0.5% at $92.74.</p><p><blockquote>上次检查时，Fisker股价上涨3.1%，至18.29美元。麦格纳在纽约证券交易所交易的股价下跌0.5%，至92.74美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fisker Jumps on EV-Production Pact With Magna International<blockquote>菲斯克与麦格纳国际签订电动汽车生产协议</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFisker Jumps on EV-Production Pact With Magna International<blockquote>菲斯克与麦格纳国际签订电动汽车生产协议</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">.thestreet</strong><span class=\"h-time small\">2021-06-17 22:43</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Fisker&nbsp;(<b>FSR</b>) &nbsp;was higher after it&nbsp;said&nbsp;it signed an agreement under which Magna International,&nbsp;(<b>MGA</b>)&nbsp;the mobility technology company, would produce its electric vehicles.</p><p><blockquote>菲斯克（<b>FSR</b>）在表示签署了一项协议后，麦格纳国际（<b>MGA</b>）移动技术公司将生产其电动汽车。</blockquote></p><p> As part of the partnership, Fisker's all-electric Ocean SUV is expected to start production at the Aurora, Ontario, company's facility in Graz, Austria, starting Nov. 17, 2022.</p><p><blockquote>作为合作伙伴关系的一部分，Fisker的全电动Ocean SUV预计将于2022年11月17日开始在该公司位于奥地利格拉茨的安大略省奥罗拉工厂开始生产。</blockquote></p><p> \"From the start of this partnership, Fisker and Magna aligned very quickly on the importance of delivering a high-quality vehicle on time,\" Chief Executive Henrik Fisker said in a statement.</p><p><blockquote>首席执行官亨里克·菲斯克(Henrik Fisker)在一份声明中表示：“从合作伙伴关系一开始，菲斯克和麦格纳就在按时交付高质量车辆的重要性上迅速达成一致。”</blockquote></p><p> The Graz manufacturing facility has produced more than 3.7 million vehicles for several global automakers.</p><p><blockquote>格拉茨制造工厂已为多家全球汽车制造商生产了超过370万辆汽车。</blockquote></p><p> The agreement is \"broad-based\" covering planned volumes, manufacturing costs and quality metrics over the program's lifecycle which runs through 2029.</p><p><blockquote>该协议“基础广泛”，涵盖了该计划生命周期（直至2029年）的计划数量、制造成本和质量指标。</blockquote></p><p> The Ocean SUV from the Los Angeles company will use a version of a Magna-developed electric-vehicle architecture. Fisker will modify that architecture to create new intellectual property that it expects to deliver \"class-leading range\" while also lowering manufacturing costs.</p><p><blockquote>这家洛杉矶公司的Ocean SUV将使用麦格纳开发的电动汽车架构版本。菲斯克将修改该架构以创建新的知识产权，预计将提供“一流的产品系列”，同时降低制造成本。</blockquote></p><p> Fisker now expects Ocean to enter the market with a starting list price of $37,499 in the U.S., excluding electric vehicle-related subsidies, and below&nbsp;€32,000 ($38,200) in Germany (including taxes and EV-related subsidies).</p><p><blockquote>Fisker目前预计Ocean进入市场的起价为37,499美元，不包括电动汽车相关补贴，在德国将低于32,000欧元（38,200美元）（包括税收和电动汽车相关补贴）。</blockquote></p><p> \"Our asset-lite model, reinforced by partners like Magna, is powering Fisker towards its planned delivery of the Ocean with features and functions exceeding our original aspirations,\" said Fisker. He added that the company is scaling rapidly.</p><p><blockquote>菲斯克表示：“在麦格纳等合作伙伴的支持下，我们的轻资产模式正在推动菲斯克按计划交付海洋，其特性和功能超出了我们最初的愿望。”他补充说，该公司正在迅速扩大规模。</blockquote></p><p> Fisker shares at last check were 3.1% higher at $18.29. Magna's shares traded on the New York Stock Exchange were off 0.5% at $92.74.</p><p><blockquote>上次检查时，Fisker股价上涨3.1%，至18.29美元。麦格纳在纽约证券交易所交易的股价下跌0.5%，至92.74美元。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/fisker-higher-after-finalizing-magna-intl-production-agreement\">.thestreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"FSR":"菲斯克"},"source_url":"https://www.thestreet.com/investing/fisker-higher-after-finalizing-magna-intl-production-agreement","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175322624","content_text":"Fisker (FSR)  was higher after it said it signed an agreement under which Magna International, (MGA) the mobility technology company, would produce its electric vehicles.\nAs part of the partnership, Fisker's all-electric Ocean SUV is expected to start production at the Aurora, Ontario, company's facility in Graz, Austria, starting Nov. 17, 2022.\n\"From the start of this partnership, Fisker and Magna aligned very quickly on the importance of delivering a high-quality vehicle on time,\" Chief Executive Henrik Fisker said in a statement.\nThe Graz manufacturing facility has produced more than 3.7 million vehicles for several global automakers.\nThe agreement is \"broad-based\" covering planned volumes, manufacturing costs and quality metrics over the program's lifecycle which runs through 2029.\nThe Ocean SUV from the Los Angeles company will use a version of a Magna-developed electric-vehicle architecture. Fisker will modify that architecture to create new intellectual property that it expects to deliver \"class-leading range\" while also lowering manufacturing costs.\nFisker now expects Ocean to enter the market with a starting list price of $37,499 in the U.S., excluding electric vehicle-related subsidies, and below €32,000 ($38,200) in Germany (including taxes and EV-related subsidies).\n\"Our asset-lite model, reinforced by partners like Magna, is powering Fisker towards its planned delivery of the Ocean with features and functions exceeding our original aspirations,\" said Fisker. He added that the company is scaling rapidly.\nFisker shares at last check were 3.1% higher at $18.29. Magna's shares traded on the New York Stock Exchange were off 0.5% at $92.74.","news_type":1,"symbols_score_info":{"FSR":0.9}},"isVote":1,"tweetType":1,"viewCount":522,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117485787,"gmtCreate":1623157595549,"gmtModify":1634036364583,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"Consistently growth counter.&nbsp;","listText":"Consistently growth counter.&nbsp;","text":"Consistently growth counter.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/117485787","repostId":"1191020585","repostType":4,"isVote":1,"tweetType":1,"viewCount":876,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":112859110,"gmtCreate":1622861857230,"gmtModify":1634097266172,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"Worth keeping an eye as it will be benefiting from the post pandemic recovery.","listText":"Worth keeping an eye as it will be benefiting from the post pandemic recovery.","text":"Worth keeping an eye as it will be benefiting from the post pandemic recovery.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/112859110","repostId":"1180386317","repostType":2,"repost":{"id":"1180386317","kind":"news","pubTimestamp":1622616520,"share":"https://www.laohu8.com/m/news/1180386317?lang=zh_CN&edition=full","pubTime":"2021-06-02 14:48","market":"us","language":"en","title":"Buy Boeing Stock Because ‘a Change Is Gonna Come’<blockquote>购买波音股票，因为“变化即将到来”</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1180386317","media":"Barrons","summary":"Stock in Boeing caught an upgrade Tuesday as a Wall Street analyst noted that things are looking up for the commercial aerospace giant and the industry as a whole.Cowen analyst Cai von Rumohr upgraded the shares to Buy from Hold and raised his target for the price to $290 from $240 a share. His belief that “a change is gonna come” underpins his more bullish view.The first change is air traffic. Air travel is picking up after a moribund, pandemic-affected 2020. More than1.9 million people boarded","content":"<p>Stock in Boeing caught an upgrade Tuesday as a Wall Street analyst noted that things are looking up for the commercial aerospace giant and the industry as a whole.</p><p><blockquote>周二，波音公司股价上调，一位华尔街分析师指出，这家商业航空航天巨头和整个行业的情况正在好转。</blockquote></p><p> Boeing stock (ticker: BA) was up 3% on Tuesday. </p><p><blockquote>波音股票（股票代码：BA）周二上涨3%。</blockquote></p><p> Cowen analyst&nbsp;Cai von Rumohr&nbsp;upgraded the shares to Buy from Hold and raised his target for the price to $290 from $240 a share. His belief that “a change is gonna come” underpins his more bullish view.</p><p><blockquote>Cowen分析师Cai von Rumohr将该股评级从持有上调至买入，并将目标价从每股240美元上调至290美元。他对“变革即将到来”的信念支撑了他更乐观的观点。</blockquote></p><p> The first change is air traffic. Air travel is picking up after a moribund, pandemic-affected 2020. More than1.9 million people&nbsp;boarded planes in the U.S. on Monday, the highest level since March 2020. Over the holiday weekend, U.S. commercial air traffic was down less than 30% compared with 2019, a smaller drop than on recent weekends.</p><p><blockquote>第一个变化是空中交通。在经历了受疫情影响的奄奄一息的2020年之后，航空旅行正在回升。周一，美国有超过190万人登机，为2020年3月以来的最高水平。假日周末，美国商业航空运输量与2019年相比下降了不到30%，降幅小于最近几个周末。</blockquote></p><p> More people on planes is good news for all aerospace-related stocks.</p><p><blockquote>飞机上的人数增加对所有航空航天相关股票来说都是个好消息。</blockquote></p><p> Von Rumohr also sees a change coming in demand for commercial aircraft. Governments and airlines are increasingly focused on reducing emissions of carbon dioxide, and new planes emit less of the greenhouse gas, so replacement demand could rise faster than investors expect. Lower operating costs, of course, are an additional reason to replace planes.</p><p><blockquote>冯·鲁莫尔还看到了商用飞机需求的变化。政府和航空公司越来越关注减少二氧化碳排放，新飞机排放的温室气体较少，因此更换需求的增长速度可能会快于投资者的预期。当然，较低的运营成本是更换飞机的另一个原因。</blockquote></p><p> He also pointed out that the global fleet of wide-body, or twin-aisle aircraft, is older than the narrow-body aircraft in use. That makes them more likely to be replaced. A snapback in wide-body order rates has the potential to help Boeing a little more than&nbsp;Airbus&nbsp;(AIR.France) because Boeing has a bigger market share in wide-bodies. Still, any order pickup will benefit both.</p><p><blockquote>他还指出，全球宽体或双通道飞机机队比正在使用的窄体飞机更老。这使得他们更有可能被取代。宽体订单率的快速回升对波音的帮助可能比空客（AIR.France）更大，因为波音在宽体领域拥有更大的市场份额。尽管如此，任何订单提货都将使双方受益。</blockquote></p><p> As air traffic returns to normal, potentially emboldening airlines to buy, von Rumohr projects Boeing will generate $21 of free cash flow per share by 2024. That cash flow supports his $290&nbsp;target price.</p><p><blockquote>随着空中交通恢复正常，这可能会鼓励航空公司购买，冯·鲁莫尔预计，到2024年，波音公司每股将产生21美元的自由现金流。该现金流支撑了他290美元的目标价。</blockquote></p><p> Right now, Boeing is burning through cash because deliveries dropped dramatically amid Covid-19 lockdowns. In 2017 and 2018, before the pandemic, and before the 737 MAX jet was grounded in 2019, Boeing generated more than $20 in free cash flow per share.</p><p><blockquote>目前，波音公司正在烧钱，因为在Covid-19封锁期间交付量急剧下降。2017年和2018年，在大流行之前，以及2019年737 MAX喷气式飞机停飞之前，波音每股产生的自由现金流超过20美元。</blockquote></p><p> While the S&amp;P 500 trades for a free cash yield—essentially free cash flow divided by the stock price—of about 3%, Boeing has historically traded for a yield closer to 6%. With $21 in free cash flow and a yield of 6%, a share price of $350 is possible by 2024, offering attractive returns in coming years with shares trading at about $250.</p><p><blockquote>虽然标普500的自由现金收益率（本质上是自由现金流除以股价）约为3%，但波音的历史收益率接近6%。凭借21美元的自由现金流和6%的收益率，到2024年股价有可能达到350美元，在未来几年提供有吸引力的回报，股价约为250美元。</blockquote></p><p> With the upgrade, 53% of analysts covering the stock rate shares at Buy. The&nbsp;average&nbsp;Buy-rating ratio for stocks in the S&amp;P 500 is about 55%.</p><p><blockquote>随着评级上调，53%的分析师将该股评级为买入。标普500股票的平均买入评级比率约为55%。</blockquote></p><p> Boeing was a much more popular stock before the pandemic and the grounding of the 737 MAX jet between March 2019 and December 2020. In February 2019, more than 76% of analysts covering the company rated shares Buy. The share price was almost $400.</p><p><blockquote>在大流行和2019年3月至2020年12月737 MAX喷气式飞机停飞之前，波音公司是一只更受欢迎的股票。2019年2月，超过76%的研究该公司的分析师将股票评级为买入。股价接近400美元。</blockquote></p><p> Boeing stock rose 1% in 2019 and dropped 34% in 2020. Shares are up about 19% year to date, better than comparable gains of the overall market.</p><p><blockquote>波音股价2019年上涨1%，2020年下跌34%。今年迄今为止，该股已上涨约19%，好于整体市场的可比涨幅。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Buy Boeing Stock Because ‘a Change Is Gonna Come’<blockquote>购买波音股票，因为“变化即将到来”</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBuy Boeing Stock Because ‘a Change Is Gonna Come’<blockquote>购买波音股票，因为“变化即将到来”</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-06-02 14:48</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Stock in Boeing caught an upgrade Tuesday as a Wall Street analyst noted that things are looking up for the commercial aerospace giant and the industry as a whole.</p><p><blockquote>周二，波音公司股价上调，一位华尔街分析师指出，这家商业航空航天巨头和整个行业的情况正在好转。</blockquote></p><p> Boeing stock (ticker: BA) was up 3% on Tuesday. </p><p><blockquote>波音股票（股票代码：BA）周二上涨3%。</blockquote></p><p> Cowen analyst&nbsp;Cai von Rumohr&nbsp;upgraded the shares to Buy from Hold and raised his target for the price to $290 from $240 a share. His belief that “a change is gonna come” underpins his more bullish view.</p><p><blockquote>Cowen分析师Cai von Rumohr将该股评级从持有上调至买入，并将目标价从每股240美元上调至290美元。他对“变革即将到来”的信念支撑了他更乐观的观点。</blockquote></p><p> The first change is air traffic. Air travel is picking up after a moribund, pandemic-affected 2020. More than1.9 million people&nbsp;boarded planes in the U.S. on Monday, the highest level since March 2020. Over the holiday weekend, U.S. commercial air traffic was down less than 30% compared with 2019, a smaller drop than on recent weekends.</p><p><blockquote>第一个变化是空中交通。在经历了受疫情影响的奄奄一息的2020年之后，航空旅行正在回升。周一，美国有超过190万人登机，为2020年3月以来的最高水平。假日周末，美国商业航空运输量与2019年相比下降了不到30%，降幅小于最近几个周末。</blockquote></p><p> More people on planes is good news for all aerospace-related stocks.</p><p><blockquote>飞机上的人数增加对所有航空航天相关股票来说都是个好消息。</blockquote></p><p> Von Rumohr also sees a change coming in demand for commercial aircraft. Governments and airlines are increasingly focused on reducing emissions of carbon dioxide, and new planes emit less of the greenhouse gas, so replacement demand could rise faster than investors expect. Lower operating costs, of course, are an additional reason to replace planes.</p><p><blockquote>冯·鲁莫尔还看到了商用飞机需求的变化。政府和航空公司越来越关注减少二氧化碳排放，新飞机排放的温室气体较少，因此更换需求的增长速度可能会快于投资者的预期。当然，较低的运营成本是更换飞机的另一个原因。</blockquote></p><p> He also pointed out that the global fleet of wide-body, or twin-aisle aircraft, is older than the narrow-body aircraft in use. That makes them more likely to be replaced. A snapback in wide-body order rates has the potential to help Boeing a little more than&nbsp;Airbus&nbsp;(AIR.France) because Boeing has a bigger market share in wide-bodies. Still, any order pickup will benefit both.</p><p><blockquote>他还指出，全球宽体或双通道飞机机队比正在使用的窄体飞机更老。这使得他们更有可能被取代。宽体订单率的快速回升对波音的帮助可能比空客（AIR.France）更大，因为波音在宽体领域拥有更大的市场份额。尽管如此，任何订单提货都将使双方受益。</blockquote></p><p> As air traffic returns to normal, potentially emboldening airlines to buy, von Rumohr projects Boeing will generate $21 of free cash flow per share by 2024. That cash flow supports his $290&nbsp;target price.</p><p><blockquote>随着空中交通恢复正常，这可能会鼓励航空公司购买，冯·鲁莫尔预计，到2024年，波音公司每股将产生21美元的自由现金流。该现金流支撑了他290美元的目标价。</blockquote></p><p> Right now, Boeing is burning through cash because deliveries dropped dramatically amid Covid-19 lockdowns. In 2017 and 2018, before the pandemic, and before the 737 MAX jet was grounded in 2019, Boeing generated more than $20 in free cash flow per share.</p><p><blockquote>目前，波音公司正在烧钱，因为在Covid-19封锁期间交付量急剧下降。2017年和2018年，在大流行之前，以及2019年737 MAX喷气式飞机停飞之前，波音每股产生的自由现金流超过20美元。</blockquote></p><p> While the S&amp;P 500 trades for a free cash yield—essentially free cash flow divided by the stock price—of about 3%, Boeing has historically traded for a yield closer to 6%. With $21 in free cash flow and a yield of 6%, a share price of $350 is possible by 2024, offering attractive returns in coming years with shares trading at about $250.</p><p><blockquote>虽然标普500的自由现金收益率（本质上是自由现金流除以股价）约为3%，但波音的历史收益率接近6%。凭借21美元的自由现金流和6%的收益率，到2024年股价有可能达到350美元，在未来几年提供有吸引力的回报，股价约为250美元。</blockquote></p><p> With the upgrade, 53% of analysts covering the stock rate shares at Buy. The&nbsp;average&nbsp;Buy-rating ratio for stocks in the S&amp;P 500 is about 55%.</p><p><blockquote>随着评级上调，53%的分析师将该股评级为买入。标普500股票的平均买入评级比率约为55%。</blockquote></p><p> Boeing was a much more popular stock before the pandemic and the grounding of the 737 MAX jet between March 2019 and December 2020. In February 2019, more than 76% of analysts covering the company rated shares Buy. The share price was almost $400.</p><p><blockquote>在大流行和2019年3月至2020年12月737 MAX喷气式飞机停飞之前，波音公司是一只更受欢迎的股票。2019年2月，超过76%的研究该公司的分析师将股票评级为买入。股价接近400美元。</blockquote></p><p> Boeing stock rose 1% in 2019 and dropped 34% in 2020. Shares are up about 19% year to date, better than comparable gains of the overall market.</p><p><blockquote>波音股价2019年上涨1%，2020年下跌34%。今年迄今为止，该股已上涨约19%，好于整体市场的可比涨幅。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/buy-boeing-stock-cowen-rating-upgrade-51622566557?mod=hp_LEADSUPP_1\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BA":"波音"},"source_url":"https://www.barrons.com/articles/buy-boeing-stock-cowen-rating-upgrade-51622566557?mod=hp_LEADSUPP_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180386317","content_text":"Stock in Boeing caught an upgrade Tuesday as a Wall Street analyst noted that things are looking up for the commercial aerospace giant and the industry as a whole.\nBoeing stock (ticker: BA) was up 3% on Tuesday. \nCowen analyst Cai von Rumohr upgraded the shares to Buy from Hold and raised his target for the price to $290 from $240 a share. His belief that “a change is gonna come” underpins his more bullish view.\nThe first change is air traffic. Air travel is picking up after a moribund, pandemic-affected 2020. More than1.9 million people boarded planes in the U.S. on Monday, the highest level since March 2020. Over the holiday weekend, U.S. commercial air traffic was down less than 30% compared with 2019, a smaller drop than on recent weekends.\nMore people on planes is good news for all aerospace-related stocks.\nVon Rumohr also sees a change coming in demand for commercial aircraft. Governments and airlines are increasingly focused on reducing emissions of carbon dioxide, and new planes emit less of the greenhouse gas, so replacement demand could rise faster than investors expect. Lower operating costs, of course, are an additional reason to replace planes.\nHe also pointed out that the global fleet of wide-body, or twin-aisle aircraft, is older than the narrow-body aircraft in use. That makes them more likely to be replaced. A snapback in wide-body order rates has the potential to help Boeing a little more than Airbus (AIR.France) because Boeing has a bigger market share in wide-bodies. Still, any order pickup will benefit both.\nAs air traffic returns to normal, potentially emboldening airlines to buy, von Rumohr projects Boeing will generate $21 of free cash flow per share by 2024. That cash flow supports his $290 target price.\nRight now, Boeing is burning through cash because deliveries dropped dramatically amid Covid-19 lockdowns. In 2017 and 2018, before the pandemic, and before the 737 MAX jet was grounded in 2019, Boeing generated more than $20 in free cash flow per share.\nWhile the S&P 500 trades for a free cash yield—essentially free cash flow divided by the stock price—of about 3%, Boeing has historically traded for a yield closer to 6%. With $21 in free cash flow and a yield of 6%, a share price of $350 is possible by 2024, offering attractive returns in coming years with shares trading at about $250.\nWith the upgrade, 53% of analysts covering the stock rate shares at Buy. The average Buy-rating ratio for stocks in the S&P 500 is about 55%.\nBoeing was a much more popular stock before the pandemic and the grounding of the 737 MAX jet between March 2019 and December 2020. In February 2019, more than 76% of analysts covering the company rated shares Buy. The share price was almost $400.\nBoeing stock rose 1% in 2019 and dropped 34% in 2020. Shares are up about 19% year to date, better than comparable gains of the overall market.","news_type":1,"symbols_score_info":{"BA":0.9}},"isVote":1,"tweetType":1,"viewCount":919,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":116648259,"gmtCreate":1622798912671,"gmtModify":1634097899766,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"Itt seems like short term retracement.","listText":"Itt seems like short term retracement.","text":"Itt seems like short term retracement.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/116648259","repostId":"1169305457","repostType":4,"repost":{"id":"1169305457","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1622793856,"share":"https://www.laohu8.com/m/news/1169305457?lang=zh_CN&edition=full","pubTime":"2021-06-04 16:04","market":"us","language":"en","title":"AMC shares tanked another 5% in premarket trading<blockquote>AMC股价在盘前交易中又下跌5%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169305457","media":"Tiger Newspress","summary":"AMC shares tanked another 5% in premarket trading.AMC Entertainment shares plunged 18% on Thursday f","content":"<p>AMC shares tanked another&nbsp;5% in premarket trading.</p><p><blockquote>AMC股价在盘前交易中又下跌5%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/651c70ab98e89bf8e6705480ef126728\" tg-width=\"909\" tg-height=\"663\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>AMC Entertainment&nbsp;shares plunged&nbsp;18% on Thursday&nbsp;following a stock sale announcement.</p><p><blockquote>在宣布出售股票后，AMC院线股价周四暴跌18%。</blockquote></p><p>AMC Entertainment Holdings Inc.&nbsp;is asking investors to authorize an additional 25 million new shares,aiming tocapitalize on a rally that has sent the stock of the ailing movie-theater chain up about 2,300% this year.</p><p><blockquote>AMC院线控股公司(Taylor Swift Holdings Inc.)要求投资者授权额外发行2500万股新股，旨在利用今年以来这家陷入困境的连锁电影院股价上涨约2,300%的涨势。</blockquote></p><p>The proposal announced Thursday in a filing will be put to a vote at the company’s July 29 annual meeting. The equity today would be valued at $1.3 billion, though the company promised not to issue the new shares in 2021.</p><p><blockquote>周四在一份文件中宣布的提案将在该公司7月29日的年会上进行投票。尽管该公司承诺在2021年不会发行新股，但目前的股权价值为13亿美元。</blockquote></p><p>“To successfully navigate the road ahead, we seek to assemble all of the financial tools that might help us,” Chief Executive Officer Adam Aron said in a statement. “An important tool for any company is having shares available to issue.”</p><p><blockquote>首席执行官亚当·阿伦(Adam Aron)在一份声明中表示：“为了成功驾驭未来的道路，我们寻求汇集所有可能对我们有帮助的金融工具。”“对于任何公司来说，一个重要的工具就是拥有可供发行的股票。”</blockquote></p><p>The request is perhaps unsurprising for a company that’s become the king of meme stocks, at the heart of a frenzy of online traders determine to pump up its valuation.</p><p><blockquote>对于一家已成为模因股票之王的公司来说，这一要求或许并不令人意外，该公司正处于在线交易者疯狂抬高其估值的核心。</blockquote></p><p>Still, it’s a major retreat from a request earlier this year to authorize 500 million new shares. That proposal was originally up for a vote in May, but the annual meeting was postponed and the request withdrawn after it became clear investors would shoot it down.</p><p><blockquote>尽管如此，与今年早些时候授权5亿股新股的请求相比，这是一个重大倒退。该提案原定于5月份进行投票，但年会被推迟，在投资者显然会否决该提案后，该请求被撤回。</blockquote></p><p>Aron said in April the struggling company could issue about 43 million new shares. With sales of new stock totaling more than $800 million just this week, AMC has now completed nearly all of that authorization, according to the filing.</p><p><blockquote>阿伦4月份表示，这家陷入困境的公司可能会发行约4300万股新股。文件显示，仅本周新股销售总额就超过8亿美元，AMC现已完成几乎所有授权。</blockquote></p><p>In a YouTube interview Thursday, Aron said proceeds from another equity sale, if approved, would be used to reduce debt, help the company negotiate with landlords who are owed $400 million, and to chase acquisitions “hard.”</p><p><blockquote>阿伦周四在接受YouTube采访时表示，如果获得批准，另一次股权出售的收益将用于减少债务、帮助公司与欠债4亿美元的房东进行谈判，并“努力”追逐收购。</blockquote></p><p>”It’s our view that we’re strengthening the company,” he said. “We’re not hurting the company.”</p><p><blockquote>“我们认为我们正在加强公司，”他说。“我们不会伤害公司。”</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC shares tanked another 5% in premarket trading<blockquote>AMC股价在盘前交易中又下跌5%</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC shares tanked another 5% in premarket trading<blockquote>AMC股价在盘前交易中又下跌5%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-06-04 16:04</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>AMC shares tanked another&nbsp;5% in premarket trading.</p><p><blockquote>AMC股价在盘前交易中又下跌5%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/651c70ab98e89bf8e6705480ef126728\" tg-width=\"909\" tg-height=\"663\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>AMC Entertainment&nbsp;shares plunged&nbsp;18% on Thursday&nbsp;following a stock sale announcement.</p><p><blockquote>在宣布出售股票后，AMC院线股价周四暴跌18%。</blockquote></p><p>AMC Entertainment Holdings Inc.&nbsp;is asking investors to authorize an additional 25 million new shares,aiming tocapitalize on a rally that has sent the stock of the ailing movie-theater chain up about 2,300% this year.</p><p><blockquote>AMC院线控股公司(Taylor Swift Holdings Inc.)要求投资者授权额外发行2500万股新股，旨在利用今年以来这家陷入困境的连锁电影院股价上涨约2,300%的涨势。</blockquote></p><p>The proposal announced Thursday in a filing will be put to a vote at the company’s July 29 annual meeting. The equity today would be valued at $1.3 billion, though the company promised not to issue the new shares in 2021.</p><p><blockquote>周四在一份文件中宣布的提案将在该公司7月29日的年会上进行投票。尽管该公司承诺在2021年不会发行新股，但目前的股权价值为13亿美元。</blockquote></p><p>“To successfully navigate the road ahead, we seek to assemble all of the financial tools that might help us,” Chief Executive Officer Adam Aron said in a statement. “An important tool for any company is having shares available to issue.”</p><p><blockquote>首席执行官亚当·阿伦(Adam Aron)在一份声明中表示：“为了成功驾驭未来的道路，我们寻求汇集所有可能对我们有帮助的金融工具。”“对于任何公司来说，一个重要的工具就是拥有可供发行的股票。”</blockquote></p><p>The request is perhaps unsurprising for a company that’s become the king of meme stocks, at the heart of a frenzy of online traders determine to pump up its valuation.</p><p><blockquote>对于一家已成为模因股票之王的公司来说，这一要求或许并不令人意外，该公司正处于在线交易者疯狂抬高其估值的核心。</blockquote></p><p>Still, it’s a major retreat from a request earlier this year to authorize 500 million new shares. That proposal was originally up for a vote in May, but the annual meeting was postponed and the request withdrawn after it became clear investors would shoot it down.</p><p><blockquote>尽管如此，与今年早些时候授权5亿股新股的请求相比，这是一个重大倒退。该提案原定于5月份进行投票，但年会被推迟，在投资者显然会否决该提案后，该请求被撤回。</blockquote></p><p>Aron said in April the struggling company could issue about 43 million new shares. With sales of new stock totaling more than $800 million just this week, AMC has now completed nearly all of that authorization, according to the filing.</p><p><blockquote>阿伦4月份表示，这家陷入困境的公司可能会发行约4300万股新股。文件显示，仅本周新股销售总额就超过8亿美元，AMC现已完成几乎所有授权。</blockquote></p><p>In a YouTube interview Thursday, Aron said proceeds from another equity sale, if approved, would be used to reduce debt, help the company negotiate with landlords who are owed $400 million, and to chase acquisitions “hard.”</p><p><blockquote>阿伦周四在接受YouTube采访时表示，如果获得批准，另一次股权出售的收益将用于减少债务、帮助公司与欠债4亿美元的房东进行谈判，并“努力”追逐收购。</blockquote></p><p>”It’s our view that we’re strengthening the company,” he said. “We’re not hurting the company.”</p><p><blockquote>“我们认为我们正在加强公司，”他说。“我们不会伤害公司。”</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169305457","content_text":"AMC shares tanked another 5% in premarket trading.AMC Entertainment shares plunged 18% on Thursday following a stock sale announcement.AMC Entertainment Holdings Inc. is asking investors to authorize an additional 25 million new shares,aiming tocapitalize on a rally that has sent the stock of the ailing movie-theater chain up about 2,300% this year.The proposal announced Thursday in a filing will be put to a vote at the company’s July 29 annual meeting. The equity today would be valued at $1.3 billion, though the company promised not to issue the new shares in 2021.“To successfully navigate the road ahead, we seek to assemble all of the financial tools that might help us,” Chief Executive Officer Adam Aron said in a statement. “An important tool for any company is having shares available to issue.”The request is perhaps unsurprising for a company that’s become the king of meme stocks, at the heart of a frenzy of online traders determine to pump up its valuation.Still, it’s a major retreat from a request earlier this year to authorize 500 million new shares. That proposal was originally up for a vote in May, but the annual meeting was postponed and the request withdrawn after it became clear investors would shoot it down.Aron said in April the struggling company could issue about 43 million new shares. With sales of new stock totaling more than $800 million just this week, AMC has now completed nearly all of that authorization, according to the filing.In a YouTube interview Thursday, Aron said proceeds from another equity sale, if approved, would be used to reduce debt, help the company negotiate with landlords who are owed $400 million, and to chase acquisitions “hard.””It’s our view that we’re strengthening the company,” he said. “We’re not hurting the company.”","news_type":1,"symbols_score_info":{"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":566,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":113788000,"gmtCreate":1622640898800,"gmtModify":1634099686378,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"Nice article and very informative&nbsp;","listText":"Nice article and very informative&nbsp;","text":"Nice article and very informative","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/113788000","repostId":"1143391139","repostType":2,"repost":{"id":"1143391139","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1622640664,"share":"https://www.laohu8.com/m/news/1143391139?lang=zh_CN&edition=full","pubTime":"2021-06-02 21:31","market":"us","language":"en","title":"Stocks rise slightly as S&P 500 inches toward new record<blockquote>随着标普500逼近新纪录，股市小幅上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1143391139","media":"Tiger Newspress","summary":"The S&P 500 rose slightly on Wednesday, hovering near an all-time high, following its muted start to","content":"<p>The S&amp;P 500 rose slightly on Wednesday, hovering near an all-time high, following its muted start to June.</p><p><blockquote>继6月份开局低迷后，标普500周三小幅上涨，徘徊在历史高点附近。</blockquote></p><p>The S&amp;P 500 rose 0.13% at the open. The Dow Jones Industrial Average added 56 points. The technology-heavy Nasdaq Composite gained just 0.04%.</p><p><blockquote>标普500开盘涨0.13%。道琼斯工业平均指数上涨56点。以科技股为主的纳斯达克综合指数仅上涨0.04%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/3af7c1c6495f573cd02119f3a47ba650\" tg-width=\"1049\" tg-height=\"454\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>AMC shares were surging again, up another 20%. The meme stockwas up 22% on Tuesday&nbsp;after raising $230.5 million through a stock sale.</p><p><blockquote>AMC股价再次飙升，又上涨了20%。在通过股票出售筹集2.305亿美元后，该meme股票周二上涨22%。</blockquote></p><p>Zoom Video&nbsp;shares popped more than 1% following its&nbsp;blowout earnings&nbsp;on Tuesday. Sales grew 191% in the first quarter.</p><p><blockquote>周二公布井喷式盈利后，Zoom Video股价上涨超过1%。第一季度销售额增长191%。</blockquote></p><p>Inflation fears, and the ways in which the Federal Reserve might respond, have weighed on sentiment recently, although the major averages are still hovering around all-time highs.</p><p><blockquote>尽管主要股指仍徘徊在历史高点附近，但通胀担忧以及美联储可能的应对方式最近打压了市场情绪。</blockquote></p><p>\"Inflation expectations have also increased beyond what may be achievable in the near term. Inflation is on the upswing in our view and will eventually surpass the Fed's targets on a sustainable basis,\" Morgan Stanley chief U.S. equity strategist Mike Wilson told clients. \"However, expectations have increased too and now price this rise in many asset markets.\"</p><p><blockquote>摩根士丹利首席美国股票策略师Mike Wilson对客户表示：“通胀预期也有所上升，超出了短期内可能实现的水平。我们认为通胀正在上升，最终将在可持续的基础上超过美联储的目标。”“然而，预期也有所增加，现在许多资产市场都对这种上涨进行了定价。”</blockquote></p><p>June is historically a weak month for stocks, but Instinet points out that the&nbsp;S&amp;P 500&nbsp;has had a better track record recently, gaining every June since 2016.</p><p><blockquote>从历史上看，6月是股市疲软的月份，但Instinet指出，标准普尔500指数最近有更好的记录，自2016年以来每年6月都在上涨。</blockquote></p><p>The S&amp;P 500 and Dow are down 0.8% and 1.5%, respectively, from their May records. The Nasdaq has a little more ground to make up following a rotation out of growth-oriented areas of the market. The tech-heavy index is currently 3.3% from its April all-time high.</p><p><blockquote>标普500指数和道琼斯指数较5月份的纪录分别下跌0.8%和1.5%。在市场增长型领域轮换后，纳斯达克有更多的空间可以弥补。以科技股为主的指数目前较4月份的历史高点上涨了3.3%。</blockquote></p><p>On Tuesday, the Dow gained 47 points, after rising more than 300 points at one point. The S&amp;P broke a 3-day win streak to close down just 2 points. after shooting to within 4 points of its all-time high of 4,238. The Nasdaq Composite was the relative underperformer, shedding 0.09% for its second negative session in three.</p><p><blockquote>周二，道指上涨47点，此前一度上涨超过300点。S&amp;P打破了三日连涨，收盘仅下跌2点。在距离4238分的历史高点不到4分后。纳斯达克综合指数表现相对不佳，下跌0.09%，连续三个交易日第二次下跌。</blockquote></p><p>Despite the muted action, there were some gainers during the session, notably in stocks connected to the economic recovery. Airline and cruise operator companies saw their stocks jump as Covid cases in the U.S. continue to decline.</p><p><blockquote>尽管行动温和，但盘中仍有一些上涨者，尤其是与经济复苏相关的股票。随着美国新冠病例持续下降，航空公司和邮轮运营商的股价上涨。</blockquote></p><p>Markets may be on hold before the big jobs report on Friday. The U.S. likely added 671,000 non-farm payrolls in May, up from 266,000 jobs added in the previous month, according to economists polled by Dow Jones.</p><p><blockquote>在周五公布重要就业报告之前，市场可能会暂停。根据道琼斯调查的经济学家，美国5月份非农就业人数可能增加671,000人，高于上个月增加的266,000人。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks rise slightly as S&P 500 inches toward new record<blockquote>随着标普500逼近新纪录，股市小幅上涨</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks rise slightly as S&P 500 inches toward new record<blockquote>随着标普500逼近新纪录，股市小幅上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-06-02 21:31</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The S&amp;P 500 rose slightly on Wednesday, hovering near an all-time high, following its muted start to June.</p><p><blockquote>继6月份开局低迷后，标普500周三小幅上涨，徘徊在历史高点附近。</blockquote></p><p>The S&amp;P 500 rose 0.13% at the open. The Dow Jones Industrial Average added 56 points. The technology-heavy Nasdaq Composite gained just 0.04%.</p><p><blockquote>标普500开盘涨0.13%。道琼斯工业平均指数上涨56点。以科技股为主的纳斯达克综合指数仅上涨0.04%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/3af7c1c6495f573cd02119f3a47ba650\" tg-width=\"1049\" tg-height=\"454\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>AMC shares were surging again, up another 20%. The meme stockwas up 22% on Tuesday&nbsp;after raising $230.5 million through a stock sale.</p><p><blockquote>AMC股价再次飙升，又上涨了20%。在通过股票出售筹集2.305亿美元后，该meme股票周二上涨22%。</blockquote></p><p>Zoom Video&nbsp;shares popped more than 1% following its&nbsp;blowout earnings&nbsp;on Tuesday. Sales grew 191% in the first quarter.</p><p><blockquote>周二公布井喷式盈利后，Zoom Video股价上涨超过1%。第一季度销售额增长191%。</blockquote></p><p>Inflation fears, and the ways in which the Federal Reserve might respond, have weighed on sentiment recently, although the major averages are still hovering around all-time highs.</p><p><blockquote>尽管主要股指仍徘徊在历史高点附近，但通胀担忧以及美联储可能的应对方式最近打压了市场情绪。</blockquote></p><p>\"Inflation expectations have also increased beyond what may be achievable in the near term. Inflation is on the upswing in our view and will eventually surpass the Fed's targets on a sustainable basis,\" Morgan Stanley chief U.S. equity strategist Mike Wilson told clients. \"However, expectations have increased too and now price this rise in many asset markets.\"</p><p><blockquote>摩根士丹利首席美国股票策略师Mike Wilson对客户表示：“通胀预期也有所上升，超出了短期内可能实现的水平。我们认为通胀正在上升，最终将在可持续的基础上超过美联储的目标。”“然而，预期也有所增加，现在许多资产市场都对这种上涨进行了定价。”</blockquote></p><p>June is historically a weak month for stocks, but Instinet points out that the&nbsp;S&amp;P 500&nbsp;has had a better track record recently, gaining every June since 2016.</p><p><blockquote>从历史上看，6月是股市疲软的月份，但Instinet指出，标准普尔500指数最近有更好的记录，自2016年以来每年6月都在上涨。</blockquote></p><p>The S&amp;P 500 and Dow are down 0.8% and 1.5%, respectively, from their May records. The Nasdaq has a little more ground to make up following a rotation out of growth-oriented areas of the market. The tech-heavy index is currently 3.3% from its April all-time high.</p><p><blockquote>标普500指数和道琼斯指数较5月份的纪录分别下跌0.8%和1.5%。在市场增长型领域轮换后，纳斯达克有更多的空间可以弥补。以科技股为主的指数目前较4月份的历史高点上涨了3.3%。</blockquote></p><p>On Tuesday, the Dow gained 47 points, after rising more than 300 points at one point. The S&amp;P broke a 3-day win streak to close down just 2 points. after shooting to within 4 points of its all-time high of 4,238. The Nasdaq Composite was the relative underperformer, shedding 0.09% for its second negative session in three.</p><p><blockquote>周二，道指上涨47点，此前一度上涨超过300点。S&amp;P打破了三日连涨，收盘仅下跌2点。在距离4238分的历史高点不到4分后。纳斯达克综合指数表现相对不佳，下跌0.09%，连续三个交易日第二次下跌。</blockquote></p><p>Despite the muted action, there were some gainers during the session, notably in stocks connected to the economic recovery. Airline and cruise operator companies saw their stocks jump as Covid cases in the U.S. continue to decline.</p><p><blockquote>尽管行动温和，但盘中仍有一些上涨者，尤其是与经济复苏相关的股票。随着美国新冠病例持续下降，航空公司和邮轮运营商的股价上涨。</blockquote></p><p>Markets may be on hold before the big jobs report on Friday. The U.S. likely added 671,000 non-farm payrolls in May, up from 266,000 jobs added in the previous month, according to economists polled by Dow Jones.</p><p><blockquote>在周五公布重要就业报告之前，市场可能会暂停。根据道琼斯调查的经济学家，美国5月份非农就业人数可能增加671,000人，高于上个月增加的266,000人。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯","ZM":"Zoom","AMC":"AMC院线",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143391139","content_text":"The S&P 500 rose slightly on Wednesday, hovering near an all-time high, following its muted start to June.The S&P 500 rose 0.13% at the open. The Dow Jones Industrial Average added 56 points. The technology-heavy Nasdaq Composite gained just 0.04%.AMC shares were surging again, up another 20%. The meme stockwas up 22% on Tuesday after raising $230.5 million through a stock sale.Zoom Video shares popped more than 1% following its blowout earnings on Tuesday. Sales grew 191% in the first quarter.Inflation fears, and the ways in which the Federal Reserve might respond, have weighed on sentiment recently, although the major averages are still hovering around all-time highs.\"Inflation expectations have also increased beyond what may be achievable in the near term. Inflation is on the upswing in our view and will eventually surpass the Fed's targets on a sustainable basis,\" Morgan Stanley chief U.S. equity strategist Mike Wilson told clients. \"However, expectations have increased too and now price this rise in many asset markets.\"June is historically a weak month for stocks, but Instinet points out that the S&P 500 has had a better track record recently, gaining every June since 2016.The S&P 500 and Dow are down 0.8% and 1.5%, respectively, from their May records. The Nasdaq has a little more ground to make up following a rotation out of growth-oriented areas of the market. The tech-heavy index is currently 3.3% from its April all-time high.On Tuesday, the Dow gained 47 points, after rising more than 300 points at one point. The S&P broke a 3-day win streak to close down just 2 points. after shooting to within 4 points of its all-time high of 4,238. The Nasdaq Composite was the relative underperformer, shedding 0.09% for its second negative session in three.Despite the muted action, there were some gainers during the session, notably in stocks connected to the economic recovery. Airline and cruise operator companies saw their stocks jump as Covid cases in the U.S. continue to decline.Markets may be on hold before the big jobs report on Friday. The U.S. likely added 671,000 non-farm payrolls in May, up from 266,000 jobs added in the previous month, according to economists polled by Dow Jones.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"AMC":0.9,"ZM":0.9}},"isVote":1,"tweetType":1,"viewCount":1006,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":135755042,"gmtCreate":1622187850986,"gmtModify":1634183021037,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"Seems like the tech selloff continues this week.","listText":"Seems like the tech selloff continues this week.","text":"Seems like the tech selloff continues this week.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/135755042","isVote":1,"tweetType":1,"viewCount":656,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":135488574,"gmtCreate":1622176339898,"gmtModify":1634183103425,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"Seems Li Auto is getting momentum after a good quarterly result.","listText":"Seems Li Auto is getting momentum after a good quarterly result.","text":"Seems Li Auto is getting momentum after a good quarterly result.","images":[{"img":"https://static.tigerbbs.com/17d12e25911660bb89d58fde3bc368d3","width":"1080","height":"2964"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/135488574","isVote":1,"tweetType":1,"viewCount":788,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":132755307,"gmtCreate":1622118285809,"gmtModify":1634183712264,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"Nice and detailed report","listText":"Nice and detailed report","text":"Nice and detailed report","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/132755307","repostId":"1150713912","repostType":2,"repost":{"id":"1150713912","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1622016404,"share":"https://www.laohu8.com/m/news/1150713912?lang=zh_CN&edition=full","pubTime":"2021-05-26 16:06","market":"us","language":"en","title":"Li Auto EPS beats by $0.01, beats on revenue<blockquote>理想汽车EPS超过预期0.01美元，营收超过预期</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1150713912","media":"Tiger Newspress","summary":"(May 26) Li Auto Inc. (Nasdaq: LI), an innovator in China’s new energy vehicle market, today announc","content":"<p>(May 26)&nbsp;Li Auto Inc. (Nasdaq: LI), an innovator in China’s new energy vehicle market, today announced its unaudited financial results for the first quarter ended March&nbsp;31, 2021.</p><p><blockquote>（5月26日）国内新能源汽车市场创新者理想汽车公司（纳斯达克：LI）今日公布截至2021年3月31日的第一季度未经审计财务业绩。</blockquote></p><p><ul><li>Li Q1 Non-GAAP EPS of -$0.03 <b>beats</b> by $0.01; GAAP EPS of -$0.06 <b>misses</b> by $0.05.</li><li>Revenue of $545.7M (+319.8% Y/Y)&nbsp;<b>beats</b> by $42.26M.</li><li>Quarterly total revenues reached RMB3.58 billion (US$545.7 million)1Quarterly deliveries were 12,579 vehicles</li><li>Quarterly gross margin reached 17.3%.</li><li><b>Q2 Outlook</b>:&nbsp;Total revenues to be between RMB3.99B ($609M) and RMB4.27B ($651.7M), consensus $663.51, representing an increase of 104.6% to 119.0% from Q2 2020.</li><li>Deliveries of vehicles to be between 14,500 and 15,500 vehicles, representing an increase of 119.6% to 134.7% from Q2 2020.</li></ul><img src=\"https://static.tigerbbs.com/ff735550080b330b011ba4dbd0dedb68\" tg-width=\"662\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p><p><blockquote><ul><li>Li第一季度非GAAP每股收益为-0.03美元<b>节拍</b>增加0.01美元；GAAP每股收益为-0.06美元<b>未命中</b>0.05美元。</li><li>收入为5.457亿美元（同比增长319.8%）<b>节拍</b>增加了4226万美元。</li><li>季度总收入达到35.8亿元人民币（5.457亿美元）1季度交付量为12,579辆</li><li>季度毛利率达到17.3%。</li><li><b>第二季度展望</b>：总收入将在人民币39.9亿元（6.09亿美元）至人民币42.7亿元（6.517亿美元）之间，市场普遍预期为663.51美元，较2020年第二季度增长104.6%至119.0%。</li><li>汽车交付量将在14,500至15,500辆之间，较2020年第二季度增长119.6%至134.7%。</li></ul></blockquote></p><p><b>Operating Highlights for the First Quarter of 2021</b></p><p><blockquote><b>2021年第一季度经营亮点</b></blockquote></p><p><ul><li>Deliveries of Li ONEs were 12,579 vehicles in the first quarter of 2021, representing a 334.4% year-over-year increase.</li></ul><img src=\"https://static.tigerbbs.com/637a5f62341f333ae7dc2317c883b83a\" tg-width=\"609\" tg-height=\"193\" referrerpolicy=\"no-referrer\"></p><p><blockquote><ul><li>2021年第一季度，理想ONE的交付量为12,579辆，同比增长334.4%。</li></ul></blockquote></p><p><ul><li>As of March 31, 2021, the Company had 65 retail stores covering 49 cities and 135 servicing centers and Li Auto-authorized body and paint shops operating in 98 cities.</li></ul><b>Financial Highlights for the First Quarter of 2021</b></p><p><blockquote><ul><li>截至2021年3月31日，该公司拥有65家零售店，覆盖49个城市，135家服务中心以及理想汽车授权的车身和喷漆店在98个城市运营。</li></ul><b>2021年第一季度财务摘要</b></blockquote></p><p><ul><li>Vehicle sales were RMB3.46 billion (US$528.7 million) in the first quarter of 2021, representing an increase of 311.8% from RMB841.1 million in the first quarter of 2020 and a decrease of 14.6% from RMB4.06 billion in the fourth quarter of 2020.</li><li>Vehicle margin2was 16.9% in the first quarter of 2021, compared with 8.4% in the first quarter of 2020 and 17.1% in the fourth quarter of 2020.</li><li>Total revenues were RMB3.58 billion (US$545.7 million) in the first quarter of 2021, representing an increase of 319.8% from RMB851.7 million in the first quarter of 2020 and a decrease of 13.8% from RMB4.15 billion in the fourth quarter of 2020.</li><li>Gross profit was RMB616.7 million (US$94.1 million) in the first quarter of 2021, representing an increase of 802.9% from RMB68.3 million in the first quarter of 2020 and a decrease of 14.9% from RMB724.6 million in the fourth quarter of 2020.</li><li>Gross margin was 17.3% in the first quarter of 2021, compared with 8.0% in the first quarter of 2020 and 17.5% in the fourth quarter of 2020.</li><li>Loss from operations was RMB407.7 million (US$62.2 million) in the first quarter of 2021, representing an increase of 74.1% from RMB234.2 million in the first quarter of 2020 and an increase of 416.7% from RMB78.9 million in the fourth quarter of 2020. Non-GAAP loss from operations3was RMB224.8 million (US$34.3 million) in the first quarter of 2021, representing a decrease of 4.0% from RMB234.2 million in the first quarter of 2020 and an increase of 216.2% from RMB71.1 million in the fourth quarter of 2020.</li><li>Net loss was RMB360.0 million (US$54.9 million) in the first quarter of 2021, compared with RMB77.1 million net loss in the first quarter of 2020 and RMB107.5 million net income in the fourth quarter of 2020. Non-GAAP net loss3was RMB177.0 million (US$27.0 million) in the first quarter of 2021, compared with RMB253.4 million net loss in the first quarter of 2020 and RMB115.4 million net income in the fourth quarter of 2020.</li><li>Operating cash flow was RMB926.3 million (US$141.4 million) in the first quarter of 2021, representing an increase of RMB989.3 million from negative net cash flow of RMB63.0 million in the first quarter of 2020 and a decrease of 49.1% from RMB1.82 billion in the fourth quarter of 2020.</li><li>Free cash flow4was RMB570.2 million (US$87.0 million) in the first quarter of 2021, representing an increase of RMB755.4 million from negative net cash flow of RMB185.2 million in the first quarter of 2020 and a decrease of 64.3% from RMB1.60 billion in the fourth quarter of 2020.</li></ul><img src=\"https://static.tigerbbs.com/de30e1ac5d69693451c6d4e9f4b33061\" tg-width=\"997\" tg-height=\"536\" referrerpolicy=\"no-referrer\"></p><p><blockquote><ul><li>2021年第一季度汽车销售额为人民币34.6亿元（5.287亿美元），较2020年第一季度的人民币8.411亿元增长311.8%，较2020年第四季度的人民币40.6亿元下降14.6%。</li><li>2021年第一季度汽车利润率为16.9%，而2020年第一季度为8.4%，2020年第四季度为17.1%。</li><li>2021年第一季度总收入为人民币35.8亿元（5.457亿美元），较2020年第一季度的人民币8.517亿元增长319.8%，较2020年第四季度的人民币41.5亿元下降13.8%2020年。</li><li>2021年第一季度毛利为人民币6.167亿元（9410万美元），较2020年第一季度的人民币6830万元增长802.9%，较2020年第四季度的人民币7.246亿元下降14.9%。</li><li>2021年第一季度毛利率为17.3%，而2020年第一季度为8.0%，2020年第四季度为17.5%。</li><li>2021年第一季度经营亏损为人民币4.077亿元（6220万美元），较2020年第一季度的人民币2.342亿元增长74.1%，较2020年第四季度的人民币7890万元增长416.7%。2021年第一季度非公认会计准则运营亏损3为人民币2.248亿元（3430万美元），较2020年第一季度的人民币2.342亿元下降4.0%，较2020年第一季度的人民币7110万元增长216.2%。2020年第四季度。</li><li>2021年第一季度净亏损为人民币3.6亿元（5490万美元），而2020年第一季度净亏损为人民币7710万元，2020年第四季度净利润为人民币1.075亿元。2021年第一季度非公认会计准则净亏损3为人民币1.77亿元（2700万美元），而2020年第一季度净亏损为人民币2.534亿元，2020年第四季度净利润为人民币1.154亿元。</li><li>2021年第一季度经营现金流为人民币9.263亿元（1.414亿美元），较2020年第一季度负净现金流人民币6300万元增加人民币9.893亿元，较2020年第四季度人民币18.2亿元减少49.1%。</li><li>2021年第一季度自由现金流4为人民币5.702亿元（8700万美元），较2020年第一季度负净现金流人民币1.852亿元增加人民币7.554亿元，较2020年第四季度人民币16.0亿元减少64.3%。</li></ul></blockquote></p><p><b>Deliveries Update</b></p><p><blockquote><b>交付更新</b></blockquote></p><p><ul><li>In April 2021, the Company delivered 5,539 Li ONEs, representing a 111.3% increase compared to April 2020. As of April 30, 2021, the Company had 73 retail stores covering 53 cities, in addition to 143 servicing centers and Li Auto-authorized body and paint shops operating in 105 cities.</li></ul><b>Issuance of Convertible Senior Notes</b></p><p><blockquote><ul><li>于二零二一年四月，本公司交付理想ONE 5,539辆，较二零二零年四月增长111.3%。截至2021年4月30日，该公司拥有73家零售店，覆盖53个城市，此外还有143家服务中心以及理想汽车授权的车身和喷漆店在105个城市运营。</li></ul><b>发行可换股优先票据</b></blockquote></p><p></p><p><ul><li>In April 2021, the Company completed the offering of US$862.5 million in aggregate principal amount of its 0.25% convertible senior notes due 2028 (the “Notes”), which included the exercise in full by the initial purchasers in the Notes offering of their option to purchase up to an additional US$112.5 million in aggregate principal amount of the Notes.</li><li>The Company plans to use the net proceeds from the Notes offering for (i) research and development of new vehicle models, including BEV models, (ii) research and development of leading technologies, and (iii) working capital and other general corporate purposes.</li></ul><b>2021 Li ONE</b></p><p><blockquote><ul><li>于二零二一年四月，本公司完成发售本金总额为862.5百万美元于二零二八年到期的0.25%可换股优先票据（“票据”），其中包括票据发售中的初始购买者悉数行使其购买额外最多本金总额为112,500,000美元的票据的选择权。</li><li>公司计划将票据发行所得款项净额用于(i)新车型（包括纯电动汽车车型）的研发，(ii)领先技术的研发，以及(iii)营运资金和其他一般公司用途。</li></ul><b>2021款理想ONE</b></blockquote></p><p><ul><li>On May 25, 2021, the Company officially released the 2021 Li ONE, the first vehicle with Navigation on ADAS (NOA) as a standard configuration in the world. It features comprehensive upgrades, including an enhanced NEDC range of 1,080 kilometers, optimized mobility comfort, and more intelligent cockpit, bringing premium features to users at a flat retail price of RMB338,000. Deliveries of the 2021 Li ONE will commence on June 1, 2021.</li><li>With software and hardware optimization and its integrated powertrain system, the 2021 Li ONE can achieve an NEDC range of 1,080 kilometers and a WLTC range of 890 kilometers. Its energy efficiency in fuel mode is 6.05 liter per 100 kilometers based on the NEDC standard operational condition, best in class among large-sized four-wheel drive SUVs.</li></ul><b>CEO and CFO Comments</b></p><p><blockquote><ul><li>2021年5月25日，公司正式发布2021款理想ONE，这是全球首款将ADAS导航（NOA）作为标准配置的车辆。它进行了全面升级，包括增强的NEDC续航里程1,080公里、优化的移动舒适性和更智能的座舱，以人民币33.8万元的统一零售价为用户带来优质功能。2021款Li ONE将于2021年6月1日开始交付。</li><li>凭借软硬件优化及其集成的动力总成系统，2021款理想ONE可实现1080公里的NEDC续航和890公里的WLTC续航。其燃油模式下的能效在NEDC标准工况下为百公里6.05升，在大尺寸四驱SUV中属于同级最佳。</li></ul><b>首席执行官和首席财务官评论</b></blockquote></p><p>Mr.Xiang Li, founder, chairman, and chief executive officer of Li Auto, commented, “We delivered 12,579 Li ONEs during the quarter, up 334.4% year over year. Li ONE was the second best-selling new energy SUV inChinain the first quarter as our compelling product offering and superior user experience continued to delight users and boost brand awareness, while the unwavering support of our direct sales and servicing network underpinned our growth.</p><p><blockquote>理想汽车创始人、董事长兼首席执行官李翔先生表示：“本季度我们交付了12,579辆理想ONE，同比增长334.4%。理想ONE是中国第二畅销的新能源SUV第一季度，我们引人注目的产品供应和卓越的用户体验继续取悦用户并提高品牌知名度，而我们直销和服务网络的坚定支持支撑了我们的增长。</blockquote></p><p>“On May 25, we released our 2021 Li ONE. The model has elevated the extended range electric technology to a brand-new level, achieving an NEDC range of 1,080 kilometers and a WLTC range of 890 kilometers. Its energy efficiency in the fuel mode takes consumption as low as 6.05 liter per 100 kilometers based on the NEDC standard operational condition, a level that is unparalleled among large-sized four-wheel drive SUVs. I am very proud of our R&amp;D team’s successful efforts to improve the range-extended technology.</p><p><blockquote>“5月25日，我们发布了2021款理想ONE，该车型将增程电动技术提升到了一个全新的高度，实现了1080公里的NEDC续航和890公里的WLTC续航，其燃油模式下的能效以NEDC标准工况计算百公里油耗低至6.05升，这一水平在大尺寸四驱SUV中无人能及。我对我们研发团队成功改进增程技术感到非常自豪。</blockquote></p><p>“The 2021 Li ONE is the first model in the world offering Navigation on ADAS in a standard configuration. Combining our self-developed ADAS with dedicated dual Horizon Robotics Journey 3 processors, an 8-megapixel front-view camera, 5 latest millimeter-wave radars, and high-definition maps, the 2021 Li ONE delivers a safer, easier, and more convenient driving experience, echoing our belief that active safety should be standard, not optional features.</p><p><blockquote>“2021款Li ONE是全球首款在标准配置中提供ADAS导航的车型。将我们自主开发的ADAS与专用的双Horizon Robotics Journey 3处理器、800万像素前视摄像头、5个最新毫米波雷达和高清地图相结合，2021款Li ONE提供了更安全、更轻松、更便捷的驾驶体验，呼应了我们的信念，即主动安全应该是标准配置，而不是可选功能。</blockquote></p><p>“Li ONE has been well loved by family users for its spacious six-seat interior layout. And the 2021 Li ONE enhances its excellence in space, comfort, and intelligence by equipping the front and second row seats with lumbar massage functions, increasing the leg room in the third row by 41 millimeters, while also featuring a smarter in-car voice assistant ‘LiXiang Tong Xue(理想同学),’ providing a high caliber and overall more comfortable, roomier, and more intelligent space for more families.</p><p><blockquote>“理想ONE以其宽敞的六座内部布局深受家庭用户的喜爱。而2021款理想ONE通过在前二排座椅配备腰部按摩功能，提升了其在空间、舒适、智能方面的卓越表现，第三排腿部空间增加了41毫米，同时还配备了更智能的车载语音助手‘理想同学’，为更多家庭提供了高品质、整体更舒适、更宽敞、更智能的空间。</blockquote></p><p>“Is it possible to build a smart electric vehicle that makes families happier? With the 2021 Li ONE, we can confidently say yes, a resounding yes!” concludedMr. Li.</p><p><blockquote>“有没有可能打造一款让家庭更幸福的智能电动车？有了2021款理想ONE，我们可以自信地说yes，响亮的yes！”先生总结道。李。</blockquote></p><p>Mr.Tie Li, chief financial officer of Li Auto, added, “We are pleased with our healthy financial performance during the first quarter. Our total revenues reached RMB3.58 billion, more than quadrupling from the first quarter of 2020 and exceeding the top end of our revenue guidance by 11.2%, while our gross margin stayed robust at 17.3%. Amid our ongoing efforts to enhance investment in R&amp;D as well as our direct sales and servicing network, operating expenses increased 27.5% quarter-over-quarter and 238.6% year-over-year. We also raised over US$840 million in net proceeds through our successful convertible senior notes offering, strengthening our capital base for future growth as we increase our R&amp;D investments in leading technologies, prepare for new model launches, and gear up for further increases in demand.”</p><p><blockquote>理想汽车首席财务官李铁先生补充道：“我们对第一季度健康的财务表现感到满意。我们的总收入达到人民币35.8亿元，比2020年第一季度增长了四倍多，超过了收入指导的上限11.2%，而我们的毛利率保持在17.3%的强劲水平。由于我们不断努力加大对研发以及直销和服务网络的投资，运营费用环比增长27.5%，同比增长238.6%。我们还通过成功发行可转换优先票据筹集了超过8.4亿美元的净收益，随着我们增加对领先技术的研发投资、为新车型推出做好准备以及为需求的进一步增长做好准备，我们增强了未来增长的资本基础。”</blockquote></p><p><b><u>Financial Results for the First Quarter of 2021</u></b></p><p><blockquote><b><u>2021年第一季度财务业绩</u></b></blockquote></p><p><b>Revenues</b></p><p><blockquote><b>收入</b></blockquote></p><p></p><p><ul><li><b>Total revenues</b>were RMB3.58 billion (US$545.7 million) in the first quarter of 2021, representing an increase of 319.8% from RMB851.7 million in the first quarter of 2020 and a decrease of 13.8% from RMB4.15 billion in the fourth quarter of 2020.</li><li><b>Vehicle sales</b>were RMB3.46 billion (US$528.7 million) in the first quarter of 2021, representing an increase of 311.8% from RMB841.1 million in the first quarter of 2020 and a decrease of 14.6% from RMB4.06 billion in the fourth quarter of 2020. The increase in revenue from vehicle sales over the first quarter of 2020 was mainly attributable to the increase in vehicle deliveries with the continuous expansion of our sales network. The decrease in revenue from vehicle sales from the fourth quarter of 2020 was mainly attributable to the decrease in vehicle deliveries, which were affected by seasonal factors related to the Chinese New Year holiday as well as the localized COVID-19 outbreaks in the northern China in February 2021.</li><li><b>Other sales and services</b>were RMB111.5 million (US$17.0 million) in the first quarter of 2021, representing an increase of 951.9% from RMB10.6 million in the first quarter of 2020 and an increase of 25.0% from RMB89.2 million in the fourth quarter of 2020. The increase in revenue from other sales and services over the first and fourth quarter of 2020 was mainly attributable to increased sales of charging stalls, accessories and services in line with higher accumulated vehicle sales.</li></ul><b>Cost of Sales and Gross Margin</b></p><p><blockquote><ul><li><b>总收入</b>2021年第一季度为人民币35.8亿元（5.457亿美元），较2020年第一季度的人民币8.517亿元增长319.8%，较2020年第四季度的人民币41.5亿元下降13.8%。</li><li><b>车辆销售</b>2021年第一季度为人民币34.6亿元（5.287亿美元），较2020年第一季度的人民币8.411亿元增长311.8%，较2020年第四季度的人民币40.6亿元下降14.6%。汽车销售收入较二零二零年第一季度增加，主要是由于我们销售网络不断扩大，汽车交付量增加。汽车销售收入较二零二零年第四季度减少，主要由于受农历新年假期相关季节性因素以及二零二一年二月中国北方局部爆发COVID-19疫情影响，汽车交付量减少。</li><li><b>其他销售及服务</b>2021年第一季度为人民币111.5百万元（1700万美元），较2020年第一季度的人民币1060万元增长951.9%，较2020年第四季度的人民币8920万元增长25.0%。其他销售及服务收入较二零二零年第一及第四季度增加，主要由于充电站、配件及服务的销售增加，与较高的累计汽车销量一致。</li></ul><b>销售成本及毛利率</b></blockquote></p><p><ul><li><b>Cost of sales</b>was RMB2.96 billion (US$451.6 million) in the first quarter of 2021, representing an increase of 277.6% from RMB783.4 million in the first quarter of 2020 and a decrease of 13.5% from RMB3.42 billion in the fourth quarter of 2020.</li><li><b>Gross profit</b>was RMB616.7 million (US$94.1 million) in the first quarter of 2021, representing an increase of 802.9% from RMB 68.3 million in the first quarter of 2020 and a decrease of 14.9% from RMB724.6 million in the fourth quarter of 2020.</li><li><b>Vehicle margin</b>was 16.9% in the first quarter of 2021, compared with 8.4% in the first quarter of 2020 and 17.1% in the fourth quarter of 2020. The increase in vehicle margin over the first quarter of 2020 was primarily attributable to lower material cost and lower unit manufacturing overhead cost derived from the increased production volume. The slight decrease in vehicle margin from the fourth quarter of 2020 was primarily due to lower average selling price caused by promotional activities launched in the first quarter of 2021, partially offset by the decreased material cost.</li><li><b>Gross margin</b>was 17.3% in the first quarter of 2021, compared with 8.0% in the first quarter of 2020 and 17.5% in the fourth quarter of 2020, which was mainly driven by the change of vehicle margin.</li></ul><b>Operating Expenses</b></p><p><blockquote><ul><li><b>销售成本</b>2021年第一季度为人民币29.6亿元（4.516亿美元），较2020年第一季度的人民币7.834亿元增长277.6%，较2020年第四季度的人民币34.2亿元下降13.5%。</li><li><b>毛利</b>2021年第一季度为人民币6.167亿元（9410万美元），较2020年第一季度的人民币6830万元增长802.9%，较2020年第四季度的人民币7.246亿元下降14.9%。</li><li><b>车辆余量</b>为16.9%，而2020年第一季度为8.4%，2020年第四季度为17.1%。汽车利润率较2020年第一季度的增长主要归因于产量增加带来的材料成本降低和单位制造间接成本降低。汽车利润率较2020年第四季度略有下降，主要是由于2021年第一季度推出的促销活动导致平均售价下降，部分被材料成本下降所抵消。</li><li><b>毛利率</b>2021年第一季度为17.3%，而2020年第一季度为8.0%，2020年第四季度为17.5%，主要受车辆利润率变化所推动。</li></ul><b>营业费用</b></blockquote></p><p></p><p><ul><li><b>Operating expenses</b>were RMB1.02 billion (US$156.4 million) in the first quarter of 2021, representing an increase of 238.6% from RMB302.5 million in the first quarter of 2020 and an increase of 27.5% from RMB803.5 million in the fourth quarter of 2020.</li><li><b>Research and development expenses</b>were RMB514.5 million (US$78.5 million) in the first quarter of 2021, representing an increase of 171.2% from RMB189.7 million in the first quarter of 2020 and an increase of 37.5% from RMB374.2 million in the fourth quarter of 2020.<b>Non-GAAP research and development expenses</b>3were RMB397.9 million (US$60.7 million) in the first quarter of 2021, representing an increase of 109.8% from RMB189.7 million in the first quarter of 2020 and an increase of 7.8% from RMB369.1 million in the fourth quarter of 2020. The increase in research and development expenses over the first and fourth quarter of 2020 was primarily attributable to (i) increased share-based compensation expenses derived from incremental share options granted with higher fair value in January 2021 while no share-based compensation expenses were recognized for stock options with service conditions and a performance condition related to our IPO in the first quarter of 2020, (ii) increased research and development activities for the Company’s next vehicle models, and (iii) increased headcount.</li><li><b>Selling, general and administrative expenses</b>were RMB509.9 million (US$77.8 million) in the first quarter of 2021, representing an increase of 352.0% from RMB112.8 million in the first quarter of 2020 and an increase of 18.8% from RMB429.3 million in the fourth quarter of 2020.<b>Non-GAAP selling, general and administrative expenses</b>3were RMB449.8 million (US$68.7 million) in the first quarter of 2021, representing an increase of 298.8% from RMB112.8 million in the first quarter of 2020 and an increase of 5.4% from RMB426.8 million in the fourth quarter of 2020. The increase in selling, general and administrative expenses over the first and fourth quarter of 2020 was primarily driven by (i) increased marketing and promotional activities, (ii) increased headcount and rental expenses with the expansion of the Company’s sales network, and (iii) increased share-based compensation expenses.</li></ul><b>Loss from Operations</b></p><p><blockquote><ul><li><b>营业费用</b>2021年第一季度为人民币10.2亿元（1.564亿美元），较2020年第一季度的人民币3.025亿元增长238.6%，较2020年第四季度的人民币8.035亿元增长27.5%。</li><li><b>研发费用</b>2021年第一季度为人民币5.145亿元（7850万美元），较2020年第一季度的人民币1.897亿元增长171.2%，较2020年第四季度的人民币3.742亿元增长37.5%。<b>非公认会计准则研发费用</b>32021年第一季度为人民币3.979亿元（6070万美元），较2020年第一季度的人民币1.897亿元增长109.8%，较2020年第四季度的人民币3.691亿元增长7.8%。2020年第一季度和第四季度研发费用的增加主要归因于（i）2021年1月授予的公允价值较高的增量购股权产生的以股份为基础的薪酬费用增加，而没有确认以股份为基础的薪酬费用对于2020年第一季度具有服务条件和与我们的IPO相关的绩效条件的股票期权，（ii）公司下一代车型的研发活动增加，以及（iii）员工人数增加。</li><li><b>销售、一般及行政开支</b>2021年第一季度为人民币5.099亿元（7780万美元），较2020年第一季度的人民币1.128亿元增长352.0%，较2020年第四季度的人民币4.293亿元增长18.8%。<b>非公认会计准则销售、一般和管理费用</b>2021年第一季度为人民币4.498亿元（6870万美元），较2020年第一季度的人民币1.128亿元增长298.8%，较2020年第四季度的人民币4.268亿元增长5.4%。2020年第一季度和第四季度销售、一般和管理费用的增加主要是由于(i)营销和促销活动的增加，(ii)随着公司销售网络的扩张，员工人数和租金费用增加，以及(iii)以股份为基础的薪酬费用增加。</li></ul><b>经营亏损</b></blockquote></p><p><ul><li><b>Loss from operations</b>was RMB407.7 million (US$62.2 million) in the first quarter of 2021, representing an increase of 74.1% from RMB234.2 million in the first quarter of 2020 and an increase of 416.7% from RMB78.9 million in the fourth quarter of 2020.<b>Non-GAAP loss from operations</b>was RMB224.8 million (US$34.3 million) in the first quarter of 2021, representing a decrease of 4.0% from RMB234.2 million in the first quarter of 2020 and an increase of 216.2% from RMB71.1 million in the fourth quarter of 2020.</li></ul><b>Net Loss and Earnings Per Share</b></p><p><blockquote><ul><li><b>经营亏损</b>2021年第一季度为人民币4.077亿元（6220万美元），较2020年第一季度的人民币2.342亿元增长74.1%，较2020年第四季度的人民币7890万元增长416.7%。<b>非公认会计准则运营损失</b>2021年第一季度为人民币2.248亿元（3430万美元），较2020年第一季度的人民币2.342亿元下降4.0%，较2020年第四季度的人民币7110万元增长216.2%。</li></ul><b>每股净亏损及盈利</b></blockquote></p><p><ul><li><b>Net loss</b>was RMB360.0 million (US$54.9 million) in the first quarter of 2021, compared with RMB77.1 million net loss in the first quarter of 2020 and RMB107.5 million net income in the fourth quarter of 2020.<b>Non-GAAP net loss</b>was RMB177.0 million (US$27.0 million) in the first quarter of 2021, compared with RMB253.4 million net loss in the first quarter of 2020 and RMB115.4 million net income in the fourth quarter of 2020.</li><li><b>Basic and diluted net loss per ADS6attributable to ordinary shareholders</b>were both RMB0.40 (US$0.06) in the first quarter of 2021.<b>Non-GAAP basic and diluted net loss per ADS attributable to ordinary shareholders</b>3were both RMB0.20 (US$0.03) in the first quarter of 2021.</li></ul><b>Cash position, Operating Cash Flow and Free Cash Flow</b></p><p><blockquote><ul><li><b>净亏损</b>2021年第一季度净利润为人民币3.6亿元（5490万美元），而2020年第一季度净亏损为人民币7710万元，2020年第四季度净利润为人民币1.075亿元。<b>非公认会计准则净亏损</b>2021年第一季度净利润为人民币1.77亿元（2700万美元），而2020年第一季度净亏损为人民币2.534亿元，2020年第四季度净利润为人民币1.154亿元。</li><li><b>普通股股东应佔每股美国存讬股份基本及摊薄亏损净额6</b>2021年第一季度均为人民币0.40元（0.06美元）。<b>非公认会计准则归属于普通股股东的每股美国存托凭证基本和摊薄净亏损</b>2021年第一季度均为人民币0.20元（0.03美元）。</li></ul><b>现金状况、经营现金流和自由现金流</b></blockquote></p><p><ul><li><b>Balance of cash and cash equivalents, restricted cash, time deposits and short-term investments</b>was RMB30.36 billion (US$4.63 billion) as of March 31, 2021.</li><li><b>Operating cash flow</b>was RMB926.3 million (US$141.4 million) in the first quarter of 2021, representing an increase of RMB989.3 million from negative net cash flow of RMB63.0 million in the first quarter of 2020 and a decrease of 49.1% from RMB1.82 billion in the fourth quarter of 2020.</li><li><b>Free cash flow</b>was RMB570.2 million (US$87.0 million) in the first quarter of 2021, representing an increase of RMB755.4 million from negative net cash flow of RMB185.2 million in the first quarter of 2020 and a decrease of 64.3% from RMB1.60 billion in the fourth quarter of 2020.</li></ul><b><u>Business Outlook</u></b></p><p><blockquote><ul><li><b>现金及现金等价物、受限制现金、定期存款和短期投资余额</b>截至2021年3月31日为人民币303.6亿元（46.3亿美元）。</li><li><b>经营现金流量</b>2021年第一季度为人民币9.263亿元（1.414亿美元），较2020年第一季度负净现金流人民币6300万元增加人民币9.893亿元，较2020年第一季度的人民币18.2亿元减少49.1%2020年第四季度。</li><li><b>自由现金流</b>2021年第一季度为人民币5.702亿元（8700万美元），较2020年第一季度的负净现金流人民币1.852亿元增加人民币7.554亿元，较2020年第一季度的人民币16.0亿元减少64.3%。2020年第四季度。</li></ul><b><u>业务展望</u></b></blockquote></p><p>For the second quarter of 2021, the Company expects:</p><p><blockquote>对于2021年第二季度，公司预计：</blockquote></p><p></p><p><ul><li><b>Deliveries of vehicles</b>to be between 14,500 and 15,500 vehicles, representing an increase of 119.6% to 134.7% from the second quarter of 2020.</li><li><b>Total revenues</b>to be between RMB3.99 billion (US$609.0 million) and RMB4.27 billion (US$651.7 million), representing an increase of 104.6% to 119.0% from the second quarter of 2020.</li></ul>This business outlook reflects the Company’s current and preliminary view on the business situation and market condition, which is subject to change.</p><p><blockquote><ul><li><b>车辆交付</b>在14,500辆至15,500辆之间，较2020年第二季度增长119.6%至134.7%。</li><li><b>总收入</b>将在人民币39.9亿元（6.090亿美元）至人民币42.7亿元（6.517亿美元）之间，较2020年第二季度增长104.6%至119.0%。</li></ul>本业务展望反映了公司对业务状况和市场状况的当前和初步看法，可能会发生变化。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Li Auto EPS beats by $0.01, beats on revenue<blockquote>理想汽车EPS超过预期0.01美元，营收超过预期</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; 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#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\">\nLi Auto EPS beats by $0.01, beats on revenue<blockquote>理想汽车EPS超过预期0.01美元，营收超过预期</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-05-26 16:06</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(May 26)&nbsp;Li Auto Inc. (Nasdaq: LI), an innovator in China’s new energy vehicle market, today announced its unaudited financial results for the first quarter ended March&nbsp;31, 2021.</p><p><blockquote>（5月26日）国内新能源汽车市场创新者理想汽车公司（纳斯达克：LI）今日公布截至2021年3月31日的第一季度未经审计财务业绩。</blockquote></p><p><ul><li>Li Q1 Non-GAAP EPS of -$0.03 <b>beats</b> by $0.01; GAAP EPS of -$0.06 <b>misses</b> by $0.05.</li><li>Revenue of $545.7M (+319.8% Y/Y)&nbsp;<b>beats</b> by $42.26M.</li><li>Quarterly total revenues reached RMB3.58 billion (US$545.7 million)1Quarterly deliveries were 12,579 vehicles</li><li>Quarterly gross margin reached 17.3%.</li><li><b>Q2 Outlook</b>:&nbsp;Total revenues to be between RMB3.99B ($609M) and RMB4.27B ($651.7M), consensus $663.51, representing an increase of 104.6% to 119.0% from Q2 2020.</li><li>Deliveries of vehicles to be between 14,500 and 15,500 vehicles, representing an increase of 119.6% to 134.7% from Q2 2020.</li></ul><img src=\"https://static.tigerbbs.com/ff735550080b330b011ba4dbd0dedb68\" tg-width=\"662\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p><p><blockquote><ul><li>Li第一季度非GAAP每股收益为-0.03美元<b>节拍</b>增加0.01美元；GAAP每股收益为-0.06美元<b>未命中</b>0.05美元。</li><li>收入为5.457亿美元（同比增长319.8%）<b>节拍</b>增加了4226万美元。</li><li>季度总收入达到35.8亿元人民币（5.457亿美元）1季度交付量为12,579辆</li><li>季度毛利率达到17.3%。</li><li><b>第二季度展望</b>：总收入将在人民币39.9亿元（6.09亿美元）至人民币42.7亿元（6.517亿美元）之间，市场普遍预期为663.51美元，较2020年第二季度增长104.6%至119.0%。</li><li>汽车交付量将在14,500至15,500辆之间，较2020年第二季度增长119.6%至134.7%。</li></ul></blockquote></p><p><b>Operating Highlights for the First Quarter of 2021</b></p><p><blockquote><b>2021年第一季度经营亮点</b></blockquote></p><p><ul><li>Deliveries of Li ONEs were 12,579 vehicles in the first quarter of 2021, representing a 334.4% year-over-year increase.</li></ul><img src=\"https://static.tigerbbs.com/637a5f62341f333ae7dc2317c883b83a\" tg-width=\"609\" tg-height=\"193\" referrerpolicy=\"no-referrer\"></p><p><blockquote><ul><li>2021年第一季度，理想ONE的交付量为12,579辆，同比增长334.4%。</li></ul></blockquote></p><p><ul><li>As of March 31, 2021, the Company had 65 retail stores covering 49 cities and 135 servicing centers and Li Auto-authorized body and paint shops operating in 98 cities.</li></ul><b>Financial Highlights for the First Quarter of 2021</b></p><p><blockquote><ul><li>截至2021年3月31日，该公司拥有65家零售店，覆盖49个城市，135家服务中心以及理想汽车授权的车身和喷漆店在98个城市运营。</li></ul><b>2021年第一季度财务摘要</b></blockquote></p><p><ul><li>Vehicle sales were RMB3.46 billion (US$528.7 million) in the first quarter of 2021, representing an increase of 311.8% from RMB841.1 million in the first quarter of 2020 and a decrease of 14.6% from RMB4.06 billion in the fourth quarter of 2020.</li><li>Vehicle margin2was 16.9% in the first quarter of 2021, compared with 8.4% in the first quarter of 2020 and 17.1% in the fourth quarter of 2020.</li><li>Total revenues were RMB3.58 billion (US$545.7 million) in the first quarter of 2021, representing an increase of 319.8% from RMB851.7 million in the first quarter of 2020 and a decrease of 13.8% from RMB4.15 billion in the fourth quarter of 2020.</li><li>Gross profit was RMB616.7 million (US$94.1 million) in the first quarter of 2021, representing an increase of 802.9% from RMB68.3 million in the first quarter of 2020 and a decrease of 14.9% from RMB724.6 million in the fourth quarter of 2020.</li><li>Gross margin was 17.3% in the first quarter of 2021, compared with 8.0% in the first quarter of 2020 and 17.5% in the fourth quarter of 2020.</li><li>Loss from operations was RMB407.7 million (US$62.2 million) in the first quarter of 2021, representing an increase of 74.1% from RMB234.2 million in the first quarter of 2020 and an increase of 416.7% from RMB78.9 million in the fourth quarter of 2020. Non-GAAP loss from operations3was RMB224.8 million (US$34.3 million) in the first quarter of 2021, representing a decrease of 4.0% from RMB234.2 million in the first quarter of 2020 and an increase of 216.2% from RMB71.1 million in the fourth quarter of 2020.</li><li>Net loss was RMB360.0 million (US$54.9 million) in the first quarter of 2021, compared with RMB77.1 million net loss in the first quarter of 2020 and RMB107.5 million net income in the fourth quarter of 2020. Non-GAAP net loss3was RMB177.0 million (US$27.0 million) in the first quarter of 2021, compared with RMB253.4 million net loss in the first quarter of 2020 and RMB115.4 million net income in the fourth quarter of 2020.</li><li>Operating cash flow was RMB926.3 million (US$141.4 million) in the first quarter of 2021, representing an increase of RMB989.3 million from negative net cash flow of RMB63.0 million in the first quarter of 2020 and a decrease of 49.1% from RMB1.82 billion in the fourth quarter of 2020.</li><li>Free cash flow4was RMB570.2 million (US$87.0 million) in the first quarter of 2021, representing an increase of RMB755.4 million from negative net cash flow of RMB185.2 million in the first quarter of 2020 and a decrease of 64.3% from RMB1.60 billion in the fourth quarter of 2020.</li></ul><img src=\"https://static.tigerbbs.com/de30e1ac5d69693451c6d4e9f4b33061\" tg-width=\"997\" tg-height=\"536\" referrerpolicy=\"no-referrer\"></p><p><blockquote><ul><li>2021年第一季度汽车销售额为人民币34.6亿元（5.287亿美元），较2020年第一季度的人民币8.411亿元增长311.8%，较2020年第四季度的人民币40.6亿元下降14.6%。</li><li>2021年第一季度汽车利润率为16.9%，而2020年第一季度为8.4%，2020年第四季度为17.1%。</li><li>2021年第一季度总收入为人民币35.8亿元（5.457亿美元），较2020年第一季度的人民币8.517亿元增长319.8%，较2020年第四季度的人民币41.5亿元下降13.8%2020年。</li><li>2021年第一季度毛利为人民币6.167亿元（9410万美元），较2020年第一季度的人民币6830万元增长802.9%，较2020年第四季度的人民币7.246亿元下降14.9%。</li><li>2021年第一季度毛利率为17.3%，而2020年第一季度为8.0%，2020年第四季度为17.5%。</li><li>2021年第一季度经营亏损为人民币4.077亿元（6220万美元），较2020年第一季度的人民币2.342亿元增长74.1%，较2020年第四季度的人民币7890万元增长416.7%。2021年第一季度非公认会计准则运营亏损3为人民币2.248亿元（3430万美元），较2020年第一季度的人民币2.342亿元下降4.0%，较2020年第一季度的人民币7110万元增长216.2%。2020年第四季度。</li><li>2021年第一季度净亏损为人民币3.6亿元（5490万美元），而2020年第一季度净亏损为人民币7710万元，2020年第四季度净利润为人民币1.075亿元。2021年第一季度非公认会计准则净亏损3为人民币1.77亿元（2700万美元），而2020年第一季度净亏损为人民币2.534亿元，2020年第四季度净利润为人民币1.154亿元。</li><li>2021年第一季度经营现金流为人民币9.263亿元（1.414亿美元），较2020年第一季度负净现金流人民币6300万元增加人民币9.893亿元，较2020年第四季度人民币18.2亿元减少49.1%。</li><li>2021年第一季度自由现金流4为人民币5.702亿元（8700万美元），较2020年第一季度负净现金流人民币1.852亿元增加人民币7.554亿元，较2020年第四季度人民币16.0亿元减少64.3%。</li></ul></blockquote></p><p><b>Deliveries Update</b></p><p><blockquote><b>交付更新</b></blockquote></p><p><ul><li>In April 2021, the Company delivered 5,539 Li ONEs, representing a 111.3% increase compared to April 2020. As of April 30, 2021, the Company had 73 retail stores covering 53 cities, in addition to 143 servicing centers and Li Auto-authorized body and paint shops operating in 105 cities.</li></ul><b>Issuance of Convertible Senior Notes</b></p><p><blockquote><ul><li>于二零二一年四月，本公司交付理想ONE 5,539辆，较二零二零年四月增长111.3%。截至2021年4月30日，该公司拥有73家零售店，覆盖53个城市，此外还有143家服务中心以及理想汽车授权的车身和喷漆店在105个城市运营。</li></ul><b>发行可换股优先票据</b></blockquote></p><p></p><p><ul><li>In April 2021, the Company completed the offering of US$862.5 million in aggregate principal amount of its 0.25% convertible senior notes due 2028 (the “Notes”), which included the exercise in full by the initial purchasers in the Notes offering of their option to purchase up to an additional US$112.5 million in aggregate principal amount of the Notes.</li><li>The Company plans to use the net proceeds from the Notes offering for (i) research and development of new vehicle models, including BEV models, (ii) research and development of leading technologies, and (iii) working capital and other general corporate purposes.</li></ul><b>2021 Li ONE</b></p><p><blockquote><ul><li>于二零二一年四月，本公司完成发售本金总额为862.5百万美元于二零二八年到期的0.25%可换股优先票据（“票据”），其中包括票据发售中的初始购买者悉数行使其购买额外最多本金总额为112,500,000美元的票据的选择权。</li><li>公司计划将票据发行所得款项净额用于(i)新车型（包括纯电动汽车车型）的研发，(ii)领先技术的研发，以及(iii)营运资金和其他一般公司用途。</li></ul><b>2021款理想ONE</b></blockquote></p><p><ul><li>On May 25, 2021, the Company officially released the 2021 Li ONE, the first vehicle with Navigation on ADAS (NOA) as a standard configuration in the world. It features comprehensive upgrades, including an enhanced NEDC range of 1,080 kilometers, optimized mobility comfort, and more intelligent cockpit, bringing premium features to users at a flat retail price of RMB338,000. Deliveries of the 2021 Li ONE will commence on June 1, 2021.</li><li>With software and hardware optimization and its integrated powertrain system, the 2021 Li ONE can achieve an NEDC range of 1,080 kilometers and a WLTC range of 890 kilometers. Its energy efficiency in fuel mode is 6.05 liter per 100 kilometers based on the NEDC standard operational condition, best in class among large-sized four-wheel drive SUVs.</li></ul><b>CEO and CFO Comments</b></p><p><blockquote><ul><li>2021年5月25日，公司正式发布2021款理想ONE，这是全球首款将ADAS导航（NOA）作为标准配置的车辆。它进行了全面升级，包括增强的NEDC续航里程1,080公里、优化的移动舒适性和更智能的座舱，以人民币33.8万元的统一零售价为用户带来优质功能。2021款Li ONE将于2021年6月1日开始交付。</li><li>凭借软硬件优化及其集成的动力总成系统，2021款理想ONE可实现1080公里的NEDC续航和890公里的WLTC续航。其燃油模式下的能效在NEDC标准工况下为百公里6.05升，在大尺寸四驱SUV中属于同级最佳。</li></ul><b>首席执行官和首席财务官评论</b></blockquote></p><p>Mr.Xiang Li, founder, chairman, and chief executive officer of Li Auto, commented, “We delivered 12,579 Li ONEs during the quarter, up 334.4% year over year. Li ONE was the second best-selling new energy SUV inChinain the first quarter as our compelling product offering and superior user experience continued to delight users and boost brand awareness, while the unwavering support of our direct sales and servicing network underpinned our growth.</p><p><blockquote>理想汽车创始人、董事长兼首席执行官李翔先生表示：“本季度我们交付了12,579辆理想ONE，同比增长334.4%。理想ONE是中国第二畅销的新能源SUV第一季度，我们引人注目的产品供应和卓越的用户体验继续取悦用户并提高品牌知名度，而我们直销和服务网络的坚定支持支撑了我们的增长。</blockquote></p><p>“On May 25, we released our 2021 Li ONE. The model has elevated the extended range electric technology to a brand-new level, achieving an NEDC range of 1,080 kilometers and a WLTC range of 890 kilometers. Its energy efficiency in the fuel mode takes consumption as low as 6.05 liter per 100 kilometers based on the NEDC standard operational condition, a level that is unparalleled among large-sized four-wheel drive SUVs. I am very proud of our R&amp;D team’s successful efforts to improve the range-extended technology.</p><p><blockquote>“5月25日，我们发布了2021款理想ONE，该车型将增程电动技术提升到了一个全新的高度，实现了1080公里的NEDC续航和890公里的WLTC续航，其燃油模式下的能效以NEDC标准工况计算百公里油耗低至6.05升，这一水平在大尺寸四驱SUV中无人能及。我对我们研发团队成功改进增程技术感到非常自豪。</blockquote></p><p>“The 2021 Li ONE is the first model in the world offering Navigation on ADAS in a standard configuration. Combining our self-developed ADAS with dedicated dual Horizon Robotics Journey 3 processors, an 8-megapixel front-view camera, 5 latest millimeter-wave radars, and high-definition maps, the 2021 Li ONE delivers a safer, easier, and more convenient driving experience, echoing our belief that active safety should be standard, not optional features.</p><p><blockquote>“2021款Li ONE是全球首款在标准配置中提供ADAS导航的车型。将我们自主开发的ADAS与专用的双Horizon Robotics Journey 3处理器、800万像素前视摄像头、5个最新毫米波雷达和高清地图相结合，2021款Li ONE提供了更安全、更轻松、更便捷的驾驶体验，呼应了我们的信念，即主动安全应该是标准配置，而不是可选功能。</blockquote></p><p>“Li ONE has been well loved by family users for its spacious six-seat interior layout. And the 2021 Li ONE enhances its excellence in space, comfort, and intelligence by equipping the front and second row seats with lumbar massage functions, increasing the leg room in the third row by 41 millimeters, while also featuring a smarter in-car voice assistant ‘LiXiang Tong Xue(理想同学),’ providing a high caliber and overall more comfortable, roomier, and more intelligent space for more families.</p><p><blockquote>“理想ONE以其宽敞的六座内部布局深受家庭用户的喜爱。而2021款理想ONE通过在前二排座椅配备腰部按摩功能，提升了其在空间、舒适、智能方面的卓越表现，第三排腿部空间增加了41毫米，同时还配备了更智能的车载语音助手‘理想同学’，为更多家庭提供了高品质、整体更舒适、更宽敞、更智能的空间。</blockquote></p><p>“Is it possible to build a smart electric vehicle that makes families happier? With the 2021 Li ONE, we can confidently say yes, a resounding yes!” concludedMr. Li.</p><p><blockquote>“有没有可能打造一款让家庭更幸福的智能电动车？有了2021款理想ONE，我们可以自信地说yes，响亮的yes！”先生总结道。李。</blockquote></p><p>Mr.Tie Li, chief financial officer of Li Auto, added, “We are pleased with our healthy financial performance during the first quarter. Our total revenues reached RMB3.58 billion, more than quadrupling from the first quarter of 2020 and exceeding the top end of our revenue guidance by 11.2%, while our gross margin stayed robust at 17.3%. Amid our ongoing efforts to enhance investment in R&amp;D as well as our direct sales and servicing network, operating expenses increased 27.5% quarter-over-quarter and 238.6% year-over-year. We also raised over US$840 million in net proceeds through our successful convertible senior notes offering, strengthening our capital base for future growth as we increase our R&amp;D investments in leading technologies, prepare for new model launches, and gear up for further increases in demand.”</p><p><blockquote>理想汽车首席财务官李铁先生补充道：“我们对第一季度健康的财务表现感到满意。我们的总收入达到人民币35.8亿元，比2020年第一季度增长了四倍多，超过了收入指导的上限11.2%，而我们的毛利率保持在17.3%的强劲水平。由于我们不断努力加大对研发以及直销和服务网络的投资，运营费用环比增长27.5%，同比增长238.6%。我们还通过成功发行可转换优先票据筹集了超过8.4亿美元的净收益，随着我们增加对领先技术的研发投资、为新车型推出做好准备以及为需求的进一步增长做好准备，我们增强了未来增长的资本基础。”</blockquote></p><p><b><u>Financial Results for the First Quarter of 2021</u></b></p><p><blockquote><b><u>2021年第一季度财务业绩</u></b></blockquote></p><p><b>Revenues</b></p><p><blockquote><b>收入</b></blockquote></p><p></p><p><ul><li><b>Total revenues</b>were RMB3.58 billion (US$545.7 million) in the first quarter of 2021, representing an increase of 319.8% from RMB851.7 million in the first quarter of 2020 and a decrease of 13.8% from RMB4.15 billion in the fourth quarter of 2020.</li><li><b>Vehicle sales</b>were RMB3.46 billion (US$528.7 million) in the first quarter of 2021, representing an increase of 311.8% from RMB841.1 million in the first quarter of 2020 and a decrease of 14.6% from RMB4.06 billion in the fourth quarter of 2020. The increase in revenue from vehicle sales over the first quarter of 2020 was mainly attributable to the increase in vehicle deliveries with the continuous expansion of our sales network. The decrease in revenue from vehicle sales from the fourth quarter of 2020 was mainly attributable to the decrease in vehicle deliveries, which were affected by seasonal factors related to the Chinese New Year holiday as well as the localized COVID-19 outbreaks in the northern China in February 2021.</li><li><b>Other sales and services</b>were RMB111.5 million (US$17.0 million) in the first quarter of 2021, representing an increase of 951.9% from RMB10.6 million in the first quarter of 2020 and an increase of 25.0% from RMB89.2 million in the fourth quarter of 2020. The increase in revenue from other sales and services over the first and fourth quarter of 2020 was mainly attributable to increased sales of charging stalls, accessories and services in line with higher accumulated vehicle sales.</li></ul><b>Cost of Sales and Gross Margin</b></p><p><blockquote><ul><li><b>总收入</b>2021年第一季度为人民币35.8亿元（5.457亿美元），较2020年第一季度的人民币8.517亿元增长319.8%，较2020年第四季度的人民币41.5亿元下降13.8%。</li><li><b>车辆销售</b>2021年第一季度为人民币34.6亿元（5.287亿美元），较2020年第一季度的人民币8.411亿元增长311.8%，较2020年第四季度的人民币40.6亿元下降14.6%。汽车销售收入较二零二零年第一季度增加，主要是由于我们销售网络不断扩大，汽车交付量增加。汽车销售收入较二零二零年第四季度减少，主要由于受农历新年假期相关季节性因素以及二零二一年二月中国北方局部爆发COVID-19疫情影响，汽车交付量减少。</li><li><b>其他销售及服务</b>2021年第一季度为人民币111.5百万元（1700万美元），较2020年第一季度的人民币1060万元增长951.9%，较2020年第四季度的人民币8920万元增长25.0%。其他销售及服务收入较二零二零年第一及第四季度增加，主要由于充电站、配件及服务的销售增加，与较高的累计汽车销量一致。</li></ul><b>销售成本及毛利率</b></blockquote></p><p><ul><li><b>Cost of sales</b>was RMB2.96 billion (US$451.6 million) in the first quarter of 2021, representing an increase of 277.6% from RMB783.4 million in the first quarter of 2020 and a decrease of 13.5% from RMB3.42 billion in the fourth quarter of 2020.</li><li><b>Gross profit</b>was RMB616.7 million (US$94.1 million) in the first quarter of 2021, representing an increase of 802.9% from RMB 68.3 million in the first quarter of 2020 and a decrease of 14.9% from RMB724.6 million in the fourth quarter of 2020.</li><li><b>Vehicle margin</b>was 16.9% in the first quarter of 2021, compared with 8.4% in the first quarter of 2020 and 17.1% in the fourth quarter of 2020. The increase in vehicle margin over the first quarter of 2020 was primarily attributable to lower material cost and lower unit manufacturing overhead cost derived from the increased production volume. The slight decrease in vehicle margin from the fourth quarter of 2020 was primarily due to lower average selling price caused by promotional activities launched in the first quarter of 2021, partially offset by the decreased material cost.</li><li><b>Gross margin</b>was 17.3% in the first quarter of 2021, compared with 8.0% in the first quarter of 2020 and 17.5% in the fourth quarter of 2020, which was mainly driven by the change of vehicle margin.</li></ul><b>Operating Expenses</b></p><p><blockquote><ul><li><b>销售成本</b>2021年第一季度为人民币29.6亿元（4.516亿美元），较2020年第一季度的人民币7.834亿元增长277.6%，较2020年第四季度的人民币34.2亿元下降13.5%。</li><li><b>毛利</b>2021年第一季度为人民币6.167亿元（9410万美元），较2020年第一季度的人民币6830万元增长802.9%，较2020年第四季度的人民币7.246亿元下降14.9%。</li><li><b>车辆余量</b>为16.9%，而2020年第一季度为8.4%，2020年第四季度为17.1%。汽车利润率较2020年第一季度的增长主要归因于产量增加带来的材料成本降低和单位制造间接成本降低。汽车利润率较2020年第四季度略有下降，主要是由于2021年第一季度推出的促销活动导致平均售价下降，部分被材料成本下降所抵消。</li><li><b>毛利率</b>2021年第一季度为17.3%，而2020年第一季度为8.0%，2020年第四季度为17.5%，主要受车辆利润率变化所推动。</li></ul><b>营业费用</b></blockquote></p><p></p><p><ul><li><b>Operating expenses</b>were RMB1.02 billion (US$156.4 million) in the first quarter of 2021, representing an increase of 238.6% from RMB302.5 million in the first quarter of 2020 and an increase of 27.5% from RMB803.5 million in the fourth quarter of 2020.</li><li><b>Research and development expenses</b>were RMB514.5 million (US$78.5 million) in the first quarter of 2021, representing an increase of 171.2% from RMB189.7 million in the first quarter of 2020 and an increase of 37.5% from RMB374.2 million in the fourth quarter of 2020.<b>Non-GAAP research and development expenses</b>3were RMB397.9 million (US$60.7 million) in the first quarter of 2021, representing an increase of 109.8% from RMB189.7 million in the first quarter of 2020 and an increase of 7.8% from RMB369.1 million in the fourth quarter of 2020. The increase in research and development expenses over the first and fourth quarter of 2020 was primarily attributable to (i) increased share-based compensation expenses derived from incremental share options granted with higher fair value in January 2021 while no share-based compensation expenses were recognized for stock options with service conditions and a performance condition related to our IPO in the first quarter of 2020, (ii) increased research and development activities for the Company’s next vehicle models, and (iii) increased headcount.</li><li><b>Selling, general and administrative expenses</b>were RMB509.9 million (US$77.8 million) in the first quarter of 2021, representing an increase of 352.0% from RMB112.8 million in the first quarter of 2020 and an increase of 18.8% from RMB429.3 million in the fourth quarter of 2020.<b>Non-GAAP selling, general and administrative expenses</b>3were RMB449.8 million (US$68.7 million) in the first quarter of 2021, representing an increase of 298.8% from RMB112.8 million in the first quarter of 2020 and an increase of 5.4% from RMB426.8 million in the fourth quarter of 2020. The increase in selling, general and administrative expenses over the first and fourth quarter of 2020 was primarily driven by (i) increased marketing and promotional activities, (ii) increased headcount and rental expenses with the expansion of the Company’s sales network, and (iii) increased share-based compensation expenses.</li></ul><b>Loss from Operations</b></p><p><blockquote><ul><li><b>营业费用</b>2021年第一季度为人民币10.2亿元（1.564亿美元），较2020年第一季度的人民币3.025亿元增长238.6%，较2020年第四季度的人民币8.035亿元增长27.5%。</li><li><b>研发费用</b>2021年第一季度为人民币5.145亿元（7850万美元），较2020年第一季度的人民币1.897亿元增长171.2%，较2020年第四季度的人民币3.742亿元增长37.5%。<b>非公认会计准则研发费用</b>32021年第一季度为人民币3.979亿元（6070万美元），较2020年第一季度的人民币1.897亿元增长109.8%，较2020年第四季度的人民币3.691亿元增长7.8%。2020年第一季度和第四季度研发费用的增加主要归因于（i）2021年1月授予的公允价值较高的增量购股权产生的以股份为基础的薪酬费用增加，而没有确认以股份为基础的薪酬费用对于2020年第一季度具有服务条件和与我们的IPO相关的绩效条件的股票期权，（ii）公司下一代车型的研发活动增加，以及（iii）员工人数增加。</li><li><b>销售、一般及行政开支</b>2021年第一季度为人民币5.099亿元（7780万美元），较2020年第一季度的人民币1.128亿元增长352.0%，较2020年第四季度的人民币4.293亿元增长18.8%。<b>非公认会计准则销售、一般和管理费用</b>2021年第一季度为人民币4.498亿元（6870万美元），较2020年第一季度的人民币1.128亿元增长298.8%，较2020年第四季度的人民币4.268亿元增长5.4%。2020年第一季度和第四季度销售、一般和管理费用的增加主要是由于(i)营销和促销活动的增加，(ii)随着公司销售网络的扩张，员工人数和租金费用增加，以及(iii)以股份为基础的薪酬费用增加。</li></ul><b>经营亏损</b></blockquote></p><p><ul><li><b>Loss from operations</b>was RMB407.7 million (US$62.2 million) in the first quarter of 2021, representing an increase of 74.1% from RMB234.2 million in the first quarter of 2020 and an increase of 416.7% from RMB78.9 million in the fourth quarter of 2020.<b>Non-GAAP loss from operations</b>was RMB224.8 million (US$34.3 million) in the first quarter of 2021, representing a decrease of 4.0% from RMB234.2 million in the first quarter of 2020 and an increase of 216.2% from RMB71.1 million in the fourth quarter of 2020.</li></ul><b>Net Loss and Earnings Per Share</b></p><p><blockquote><ul><li><b>经营亏损</b>2021年第一季度为人民币4.077亿元（6220万美元），较2020年第一季度的人民币2.342亿元增长74.1%，较2020年第四季度的人民币7890万元增长416.7%。<b>非公认会计准则运营损失</b>2021年第一季度为人民币2.248亿元（3430万美元），较2020年第一季度的人民币2.342亿元下降4.0%，较2020年第四季度的人民币7110万元增长216.2%。</li></ul><b>每股净亏损及盈利</b></blockquote></p><p><ul><li><b>Net loss</b>was RMB360.0 million (US$54.9 million) in the first quarter of 2021, compared with RMB77.1 million net loss in the first quarter of 2020 and RMB107.5 million net income in the fourth quarter of 2020.<b>Non-GAAP net loss</b>was RMB177.0 million (US$27.0 million) in the first quarter of 2021, compared with RMB253.4 million net loss in the first quarter of 2020 and RMB115.4 million net income in the fourth quarter of 2020.</li><li><b>Basic and diluted net loss per ADS6attributable to ordinary shareholders</b>were both RMB0.40 (US$0.06) in the first quarter of 2021.<b>Non-GAAP basic and diluted net loss per ADS attributable to ordinary shareholders</b>3were both RMB0.20 (US$0.03) in the first quarter of 2021.</li></ul><b>Cash position, Operating Cash Flow and Free Cash Flow</b></p><p><blockquote><ul><li><b>净亏损</b>2021年第一季度净利润为人民币3.6亿元（5490万美元），而2020年第一季度净亏损为人民币7710万元，2020年第四季度净利润为人民币1.075亿元。<b>非公认会计准则净亏损</b>2021年第一季度净利润为人民币1.77亿元（2700万美元），而2020年第一季度净亏损为人民币2.534亿元，2020年第四季度净利润为人民币1.154亿元。</li><li><b>普通股股东应佔每股美国存讬股份基本及摊薄亏损净额6</b>2021年第一季度均为人民币0.40元（0.06美元）。<b>非公认会计准则归属于普通股股东的每股美国存托凭证基本和摊薄净亏损</b>2021年第一季度均为人民币0.20元（0.03美元）。</li></ul><b>现金状况、经营现金流和自由现金流</b></blockquote></p><p><ul><li><b>Balance of cash and cash equivalents, restricted cash, time deposits and short-term investments</b>was RMB30.36 billion (US$4.63 billion) as of March 31, 2021.</li><li><b>Operating cash flow</b>was RMB926.3 million (US$141.4 million) in the first quarter of 2021, representing an increase of RMB989.3 million from negative net cash flow of RMB63.0 million in the first quarter of 2020 and a decrease of 49.1% from RMB1.82 billion in the fourth quarter of 2020.</li><li><b>Free cash flow</b>was RMB570.2 million (US$87.0 million) in the first quarter of 2021, representing an increase of RMB755.4 million from negative net cash flow of RMB185.2 million in the first quarter of 2020 and a decrease of 64.3% from RMB1.60 billion in the fourth quarter of 2020.</li></ul><b><u>Business Outlook</u></b></p><p><blockquote><ul><li><b>现金及现金等价物、受限制现金、定期存款和短期投资余额</b>截至2021年3月31日为人民币303.6亿元（46.3亿美元）。</li><li><b>经营现金流量</b>2021年第一季度为人民币9.263亿元（1.414亿美元），较2020年第一季度负净现金流人民币6300万元增加人民币9.893亿元，较2020年第一季度的人民币18.2亿元减少49.1%2020年第四季度。</li><li><b>自由现金流</b>2021年第一季度为人民币5.702亿元（8700万美元），较2020年第一季度的负净现金流人民币1.852亿元增加人民币7.554亿元，较2020年第一季度的人民币16.0亿元减少64.3%。2020年第四季度。</li></ul><b><u>业务展望</u></b></blockquote></p><p>For the second quarter of 2021, the Company expects:</p><p><blockquote>对于2021年第二季度，公司预计：</blockquote></p><p></p><p><ul><li><b>Deliveries of vehicles</b>to be between 14,500 and 15,500 vehicles, representing an increase of 119.6% to 134.7% from the second quarter of 2020.</li><li><b>Total revenues</b>to be between RMB3.99 billion (US$609.0 million) and RMB4.27 billion (US$651.7 million), representing an increase of 104.6% to 119.0% from the second quarter of 2020.</li></ul>This business outlook reflects the Company’s current and preliminary view on the business situation and market condition, which is subject to change.</p><p><blockquote><ul><li><b>车辆交付</b>在14,500辆至15,500辆之间，较2020年第二季度增长119.6%至134.7%。</li><li><b>总收入</b>将在人民币39.9亿元（6.090亿美元）至人民币42.7亿元（6.517亿美元）之间，较2020年第二季度增长104.6%至119.0%。</li></ul>本业务展望反映了公司对业务状况和市场状况的当前和初步看法，可能会发生变化。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LI":"理想汽车"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1150713912","content_text":"(May 26) Li Auto Inc. (Nasdaq: LI), an innovator in China’s new energy vehicle market, today announced its unaudited financial results for the first quarter ended March 31, 2021.Li Q1 Non-GAAP EPS of -$0.03 beats by $0.01; GAAP EPS of -$0.06 misses by $0.05.Revenue of $545.7M (+319.8% Y/Y) beats by $42.26M.Quarterly total revenues reached RMB3.58 billion (US$545.7 million)1Quarterly deliveries were 12,579 vehiclesQuarterly gross margin reached 17.3%.Q2 Outlook: Total revenues to be between RMB3.99B ($609M) and RMB4.27B ($651.7M), consensus $663.51, representing an increase of 104.6% to 119.0% from Q2 2020.Deliveries of vehicles to be between 14,500 and 15,500 vehicles, representing an increase of 119.6% to 134.7% from Q2 2020.Operating Highlights for the First Quarter of 2021Deliveries of Li ONEs were 12,579 vehicles in the first quarter of 2021, representing a 334.4% year-over-year increase.As of March 31, 2021, the Company had 65 retail stores covering 49 cities and 135 servicing centers and Li Auto-authorized body and paint shops operating in 98 cities.Financial Highlights for the First Quarter of 2021Vehicle sales were RMB3.46 billion (US$528.7 million) in the first quarter of 2021, representing an increase of 311.8% from RMB841.1 million in the first quarter of 2020 and a decrease of 14.6% from RMB4.06 billion in the fourth quarter of 2020.Vehicle margin2was 16.9% in the first quarter of 2021, compared with 8.4% in the first quarter of 2020 and 17.1% in the fourth quarter of 2020.Total revenues were RMB3.58 billion (US$545.7 million) in the first quarter of 2021, representing an increase of 319.8% from RMB851.7 million in the first quarter of 2020 and a decrease of 13.8% from RMB4.15 billion in the fourth quarter of 2020.Gross profit was RMB616.7 million (US$94.1 million) in the first quarter of 2021, representing an increase of 802.9% from RMB68.3 million in the first quarter of 2020 and a decrease of 14.9% from RMB724.6 million in the fourth quarter of 2020.Gross margin was 17.3% in the first quarter of 2021, compared with 8.0% in the first quarter of 2020 and 17.5% in the fourth quarter of 2020.Loss from operations was RMB407.7 million (US$62.2 million) in the first quarter of 2021, representing an increase of 74.1% from RMB234.2 million in the first quarter of 2020 and an increase of 416.7% from RMB78.9 million in the fourth quarter of 2020. Non-GAAP loss from operations3was RMB224.8 million (US$34.3 million) in the first quarter of 2021, representing a decrease of 4.0% from RMB234.2 million in the first quarter of 2020 and an increase of 216.2% from RMB71.1 million in the fourth quarter of 2020.Net loss was RMB360.0 million (US$54.9 million) in the first quarter of 2021, compared with RMB77.1 million net loss in the first quarter of 2020 and RMB107.5 million net income in the fourth quarter of 2020. Non-GAAP net loss3was RMB177.0 million (US$27.0 million) in the first quarter of 2021, compared with RMB253.4 million net loss in the first quarter of 2020 and RMB115.4 million net income in the fourth quarter of 2020.Operating cash flow was RMB926.3 million (US$141.4 million) in the first quarter of 2021, representing an increase of RMB989.3 million from negative net cash flow of RMB63.0 million in the first quarter of 2020 and a decrease of 49.1% from RMB1.82 billion in the fourth quarter of 2020.Free cash flow4was RMB570.2 million (US$87.0 million) in the first quarter of 2021, representing an increase of RMB755.4 million from negative net cash flow of RMB185.2 million in the first quarter of 2020 and a decrease of 64.3% from RMB1.60 billion in the fourth quarter of 2020.Deliveries UpdateIn April 2021, the Company delivered 5,539 Li ONEs, representing a 111.3% increase compared to April 2020. As of April 30, 2021, the Company had 73 retail stores covering 53 cities, in addition to 143 servicing centers and Li Auto-authorized body and paint shops operating in 105 cities.Issuance of Convertible Senior NotesIn April 2021, the Company completed the offering of US$862.5 million in aggregate principal amount of its 0.25% convertible senior notes due 2028 (the “Notes”), which included the exercise in full by the initial purchasers in the Notes offering of their option to purchase up to an additional US$112.5 million in aggregate principal amount of the Notes.The Company plans to use the net proceeds from the Notes offering for (i) research and development of new vehicle models, including BEV models, (ii) research and development of leading technologies, and (iii) working capital and other general corporate purposes.2021 Li ONEOn May 25, 2021, the Company officially released the 2021 Li ONE, the first vehicle with Navigation on ADAS (NOA) as a standard configuration in the world. It features comprehensive upgrades, including an enhanced NEDC range of 1,080 kilometers, optimized mobility comfort, and more intelligent cockpit, bringing premium features to users at a flat retail price of RMB338,000. Deliveries of the 2021 Li ONE will commence on June 1, 2021.With software and hardware optimization and its integrated powertrain system, the 2021 Li ONE can achieve an NEDC range of 1,080 kilometers and a WLTC range of 890 kilometers. Its energy efficiency in fuel mode is 6.05 liter per 100 kilometers based on the NEDC standard operational condition, best in class among large-sized four-wheel drive SUVs.CEO and CFO CommentsMr.Xiang Li, founder, chairman, and chief executive officer of Li Auto, commented, “We delivered 12,579 Li ONEs during the quarter, up 334.4% year over year. Li ONE was the second best-selling new energy SUV inChinain the first quarter as our compelling product offering and superior user experience continued to delight users and boost brand awareness, while the unwavering support of our direct sales and servicing network underpinned our growth.“On May 25, we released our 2021 Li ONE. The model has elevated the extended range electric technology to a brand-new level, achieving an NEDC range of 1,080 kilometers and a WLTC range of 890 kilometers. Its energy efficiency in the fuel mode takes consumption as low as 6.05 liter per 100 kilometers based on the NEDC standard operational condition, a level that is unparalleled among large-sized four-wheel drive SUVs. I am very proud of our R&D team’s successful efforts to improve the range-extended technology.“The 2021 Li ONE is the first model in the world offering Navigation on ADAS in a standard configuration. Combining our self-developed ADAS with dedicated dual Horizon Robotics Journey 3 processors, an 8-megapixel front-view camera, 5 latest millimeter-wave radars, and high-definition maps, the 2021 Li ONE delivers a safer, easier, and more convenient driving experience, echoing our belief that active safety should be standard, not optional features.“Li ONE has been well loved by family users for its spacious six-seat interior layout. And the 2021 Li ONE enhances its excellence in space, comfort, and intelligence by equipping the front and second row seats with lumbar massage functions, increasing the leg room in the third row by 41 millimeters, while also featuring a smarter in-car voice assistant ‘LiXiang Tong Xue(理想同学),’ providing a high caliber and overall more comfortable, roomier, and more intelligent space for more families.“Is it possible to build a smart electric vehicle that makes families happier? With the 2021 Li ONE, we can confidently say yes, a resounding yes!” concludedMr. Li.Mr.Tie Li, chief financial officer of Li Auto, added, “We are pleased with our healthy financial performance during the first quarter. Our total revenues reached RMB3.58 billion, more than quadrupling from the first quarter of 2020 and exceeding the top end of our revenue guidance by 11.2%, while our gross margin stayed robust at 17.3%. Amid our ongoing efforts to enhance investment in R&D as well as our direct sales and servicing network, operating expenses increased 27.5% quarter-over-quarter and 238.6% year-over-year. We also raised over US$840 million in net proceeds through our successful convertible senior notes offering, strengthening our capital base for future growth as we increase our R&D investments in leading technologies, prepare for new model launches, and gear up for further increases in demand.”Financial Results for the First Quarter of 2021RevenuesTotal revenueswere RMB3.58 billion (US$545.7 million) in the first quarter of 2021, representing an increase of 319.8% from RMB851.7 million in the first quarter of 2020 and a decrease of 13.8% from RMB4.15 billion in the fourth quarter of 2020.Vehicle saleswere RMB3.46 billion (US$528.7 million) in the first quarter of 2021, representing an increase of 311.8% from RMB841.1 million in the first quarter of 2020 and a decrease of 14.6% from RMB4.06 billion in the fourth quarter of 2020. The increase in revenue from vehicle sales over the first quarter of 2020 was mainly attributable to the increase in vehicle deliveries with the continuous expansion of our sales network. The decrease in revenue from vehicle sales from the fourth quarter of 2020 was mainly attributable to the decrease in vehicle deliveries, which were affected by seasonal factors related to the Chinese New Year holiday as well as the localized COVID-19 outbreaks in the northern China in February 2021.Other sales and serviceswere RMB111.5 million (US$17.0 million) in the first quarter of 2021, representing an increase of 951.9% from RMB10.6 million in the first quarter of 2020 and an increase of 25.0% from RMB89.2 million in the fourth quarter of 2020. The increase in revenue from other sales and services over the first and fourth quarter of 2020 was mainly attributable to increased sales of charging stalls, accessories and services in line with higher accumulated vehicle sales.Cost of Sales and Gross MarginCost of saleswas RMB2.96 billion (US$451.6 million) in the first quarter of 2021, representing an increase of 277.6% from RMB783.4 million in the first quarter of 2020 and a decrease of 13.5% from RMB3.42 billion in the fourth quarter of 2020.Gross profitwas RMB616.7 million (US$94.1 million) in the first quarter of 2021, representing an increase of 802.9% from RMB 68.3 million in the first quarter of 2020 and a decrease of 14.9% from RMB724.6 million in the fourth quarter of 2020.Vehicle marginwas 16.9% in the first quarter of 2021, compared with 8.4% in the first quarter of 2020 and 17.1% in the fourth quarter of 2020. The increase in vehicle margin over the first quarter of 2020 was primarily attributable to lower material cost and lower unit manufacturing overhead cost derived from the increased production volume. The slight decrease in vehicle margin from the fourth quarter of 2020 was primarily due to lower average selling price caused by promotional activities launched in the first quarter of 2021, partially offset by the decreased material cost.Gross marginwas 17.3% in the first quarter of 2021, compared with 8.0% in the first quarter of 2020 and 17.5% in the fourth quarter of 2020, which was mainly driven by the change of vehicle margin.Operating ExpensesOperating expenseswere RMB1.02 billion (US$156.4 million) in the first quarter of 2021, representing an increase of 238.6% from RMB302.5 million in the first quarter of 2020 and an increase of 27.5% from RMB803.5 million in the fourth quarter of 2020.Research and development expenseswere RMB514.5 million (US$78.5 million) in the first quarter of 2021, representing an increase of 171.2% from RMB189.7 million in the first quarter of 2020 and an increase of 37.5% from RMB374.2 million in the fourth quarter of 2020.Non-GAAP research and development expenses3were RMB397.9 million (US$60.7 million) in the first quarter of 2021, representing an increase of 109.8% from RMB189.7 million in the first quarter of 2020 and an increase of 7.8% from RMB369.1 million in the fourth quarter of 2020. The increase in research and development expenses over the first and fourth quarter of 2020 was primarily attributable to (i) increased share-based compensation expenses derived from incremental share options granted with higher fair value in January 2021 while no share-based compensation expenses were recognized for stock options with service conditions and a performance condition related to our IPO in the first quarter of 2020, (ii) increased research and development activities for the Company’s next vehicle models, and (iii) increased headcount.Selling, general and administrative expenseswere RMB509.9 million (US$77.8 million) in the first quarter of 2021, representing an increase of 352.0% from RMB112.8 million in the first quarter of 2020 and an increase of 18.8% from RMB429.3 million in the fourth quarter of 2020.Non-GAAP selling, general and administrative expenses3were RMB449.8 million (US$68.7 million) in the first quarter of 2021, representing an increase of 298.8% from RMB112.8 million in the first quarter of 2020 and an increase of 5.4% from RMB426.8 million in the fourth quarter of 2020. The increase in selling, general and administrative expenses over the first and fourth quarter of 2020 was primarily driven by (i) increased marketing and promotional activities, (ii) increased headcount and rental expenses with the expansion of the Company’s sales network, and (iii) increased share-based compensation expenses.Loss from OperationsLoss from operationswas RMB407.7 million (US$62.2 million) in the first quarter of 2021, representing an increase of 74.1% from RMB234.2 million in the first quarter of 2020 and an increase of 416.7% from RMB78.9 million in the fourth quarter of 2020.Non-GAAP loss from operationswas RMB224.8 million (US$34.3 million) in the first quarter of 2021, representing a decrease of 4.0% from RMB234.2 million in the first quarter of 2020 and an increase of 216.2% from RMB71.1 million in the fourth quarter of 2020.Net Loss and Earnings Per ShareNet losswas RMB360.0 million (US$54.9 million) in the first quarter of 2021, compared with RMB77.1 million net loss in the first quarter of 2020 and RMB107.5 million net income in the fourth quarter of 2020.Non-GAAP net losswas RMB177.0 million (US$27.0 million) in the first quarter of 2021, compared with RMB253.4 million net loss in the first quarter of 2020 and RMB115.4 million net income in the fourth quarter of 2020.Basic and diluted net loss per ADS6attributable to ordinary shareholderswere both RMB0.40 (US$0.06) in the first quarter of 2021.Non-GAAP basic and diluted net loss per ADS attributable to ordinary shareholders3were both RMB0.20 (US$0.03) in the first quarter of 2021.Cash position, Operating Cash Flow and Free Cash FlowBalance of cash and cash equivalents, restricted cash, time deposits and short-term investmentswas RMB30.36 billion (US$4.63 billion) as of March 31, 2021.Operating cash flowwas RMB926.3 million (US$141.4 million) in the first quarter of 2021, representing an increase of RMB989.3 million from negative net cash flow of RMB63.0 million in the first quarter of 2020 and a decrease of 49.1% from RMB1.82 billion in the fourth quarter of 2020.Free cash flowwas RMB570.2 million (US$87.0 million) in the first quarter of 2021, representing an increase of RMB755.4 million from negative net cash flow of RMB185.2 million in the first quarter of 2020 and a decrease of 64.3% from RMB1.60 billion in the fourth quarter of 2020.Business OutlookFor the second quarter of 2021, the Company expects:Deliveries of vehiclesto be between 14,500 and 15,500 vehicles, representing an increase of 119.6% to 134.7% from the second quarter of 2020.Total revenuesto be between RMB3.99 billion (US$609.0 million) and RMB4.27 billion (US$651.7 million), representing an increase of 104.6% to 119.0% from the second quarter of 2020.This business outlook reflects the Company’s current and preliminary view on the business situation and market condition, which is subject to change.","news_type":1,"symbols_score_info":{"LI":0.9}},"isVote":1,"tweetType":1,"viewCount":926,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":832077961,"gmtCreate":1629551793653,"gmtModify":1633684076711,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"Please like, thx","listText":"Please like, thx","text":"Please like, thx","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":17,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/832077961","repostId":"1172699620","repostType":4,"repost":{"id":"1172699620","kind":"news","pubTimestamp":1629450202,"share":"https://www.laohu8.com/m/news/1172699620?lang=zh_CN&edition=full","pubTime":"2021-08-20 17:03","market":"us","language":"en","title":"Penny Stocks: Why You Should Always Stay Away<blockquote>细价股：为什么你应该永远远离</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1172699620","media":"Kiplinger","summary":"Penny stocks – those stocks that trade for low prices, often with share prices of less than a dollar","content":"<p>Penny stocks – those stocks that trade for low prices, often with share prices of less than a dollar per share – are dangerous. Period. Indeed, with a few exceptions, investors should steer clear of these uber-cheap stocks, which typically trade over-the-counter and not on a major exchange.</p><p><blockquote>细价股——那些低价交易的股票，通常每股股价不到一美元——是危险的。周期。事实上，除了少数例外，投资者应该避开这些超便宜的股票，这些股票通常在场外交易，而不是在主要交易所交易。</blockquote></p><p> Call them penny stocks, microcaps or OTC stocks; by any name, they’re bad news. Promises of quick and easy riches are easier to fall for when an investment can be made with so little money up front. An investor might think, \"How risky could it be?\"</p><p><blockquote>看涨期权他们细价股、微型股或场外交易股票；不管叫什么名字，都是坏消息。当前期投入如此之少的资金就可以进行投资时，快速轻松致富的承诺更容易上当。投资者可能会想，“风险有多大？”</blockquote></p><p> Plenty. Per the Securities and Exchange Commission: “Academic studies find that OTC stocks tend to be highly illiquid; are frequent targets of alleged market manipulation; generate negative and volatile investment returns on average; and rarely grow into a large company or transition to listing on a stock exchange.”</p><p><blockquote>大量。根据美国证券交易委员会的说法：“学术研究发现，场外交易股票往往流动性极差；经常成为涉嫌市场操纵的目标；平均产生负面且不稳定的投资回报；并且很少成长为大公司或过渡到在证券交易所上市。”</blockquote></p><p> We’ll break down what all that means below, but suffice to say, the SEC is not a fan.</p><p><blockquote>我们将在下面详细说明这一切的含义，但我只想说，SEC并不热衷于此。</blockquote></p><p> <h3><b>Why Penny Stocks Are So Dangerous</b></h3> To be clear, this is not to say that every penny stock or OTC company is a scam. The danger is that the over-the-counter market is where the scam stocks live. Think of it as a bad neighborhood. Being there can make you a mark for a con.</p><p><blockquote><h3><b>为什么细价股如此危险</b></h3>需要明确的是，这并不是说每个细价股或场外交易公司都是骗局。危险在于，场外市场是骗局股票的生存之地。把它想象成一个糟糕的社区。在那里会让你成为骗子的标志。</blockquote></p><p> For some background, the OTC market is different from exchanges like the New York Stock Exchange or Nasdaq, where trading is centralized. There is no one OTC exchange. Instead, the OTC connects buyers and sellers over a computer- and telephone-based system. Any stock that does not trade on the NYSE, Nasdaq or other established U.S. exchange can trade over-the-counter. These securities also are known as “unlisted stocks.”</p><p><blockquote>在某些背景下，场外交易市场不同于纽约证券交易所或纳斯达克等交易集中的交易所。没有一个OTC交易所。相反，场外交易通过基于计算机和电话的系统将买家和卖家联系起来。任何不在纽约证券交易所、纳斯达克或其他美国成熟交易所交易的股票都可以进行场外交易。这些证券也被称为“非上市股票”。</blockquote></p><p> Typically, OTC stocks tend to be highly risky microcap stocks (the shares of small companies with market capitalizations of under $300 million), which include nanocap stocks (those with market values of under $50 million).</p><p><blockquote>通常，场外交易股票往往是高风险的微型股（市值低于3亿美元的小公司股票），其中包括纳米股（市值低于5000万美元的股票）。</blockquote></p><p> The SEC has long warned investors about the high risks associated with such stocks. The Financial Industry Regulatory Authority (FINRA), the industry’s self-regulatory agency, likewise waves a red flag over the buying and trading of OTC securities.</p><p><blockquote>美国证券交易委员会长期以来一直警告投资者此类股票的高风险。该行业的自律机构金融业监管局（FINRA）同样对场外证券的购买和交易发出了危险信号。</blockquote></p><p> That’s because companies that list on the OTC aren’t required to file periodic or audited financial reports as they must do if they are listed on a major exchange, such as the NYSE or the Nasdaq. In other words, there’s no way to know if they’re telling the truth when they claim to have sales and profits. The major exchanges also have listing requirements; OTC stocks don’t. For example, a company must have at least 400 shareholders and a market value of at least $40 million to get a listing on the New York Stock Exchange. The OTC makes no such requirements.</p><p><blockquote>这是因为在场外交易市场上市的公司不需要像在纽约证券交易所或纳斯达克等主要交易所上市的公司那样提交定期或经审计的财务报告。换句话说，当他们声称有销售额和利润时，没有办法知道他们是否在说实话。各大交易所也有上市要求；场外交易股票则不然。例如，一家公司必须拥有至少400名股东且市值至少4000万美元才能在纽约证券交易所上市。OTC没有这样的要求。</blockquote></p><p> Put it all together, and it makes it easier for unscrupulous managers to lie about their business prospects or commit securities fraud.</p><p><blockquote>综上所述，这使得无良的管理者更容易谎报业务前景或实施证券欺诈。</blockquote></p><p> But that’s not all. The shares that exchange hands on the OTC tend to be “illiquid,” meaning they often trade in low volumes and have a limited number of buyers and sellers. That can make it difficult or impossible for investors to buy or sell shares at the prices they want.</p><p><blockquote>但这还不是全部。在场外交易的股票往往“缺乏流动性”，这意味着它们的交易量通常很低，买家和卖家数量有限。这可能会使投资者很难或不可能以他们想要的价格买卖股票。</blockquote></p><p> That lack of liquidity also makes many OTC stocks the perfect vehicle for “pump-and-dump” schemes where stock promoters lure investors to buy shares, increasing the stock price. Then, when the price gets high enough, the pumper sells his shares, causing the stock to fall and leaving investors with poor returns, or even losses. Anyone here see&nbsp;<i>The Wolf of Wall Street</i>?</p><p><blockquote>流动性的缺乏也使许多场外交易股票成为“拉高抛售”计划的完美工具，即股票发起人引诱投资者购买股票，从而提高股价。然后，当价格足够高时，抽水者出售他的股票，导致股票下跌，给投资者留下糟糕的回报，甚至亏损。这里有人看到了吗<i>华尔街之狼</i>？</blockquote></p><p> To protect investors from falling for these schemes, the SEC suspended trading of more than 800 microcap stocks – more than 8% of the OTC market – between 2012 and 2015. Once a stock has been suspended from trading, it cannot be relisted unless the company provides updated financial information to prove it’s actually operational. Since that rarely happens, trading suspensions essentially render the shares useless to scam artists.</p><p><blockquote>为了保护投资者不上当受骗，SEC在2012年至2015年间暂停了800多只微型股（占场外交易市场的8%以上）的交易。股票一旦暂停交易，就不能重新上市，除非公司提供最新的财务信息来证明其实际运营。由于这种情况很少发生，交易暂停基本上使股票对诈骗艺术家毫无用处。</blockquote></p><p> <h3><b>Legitimate OTCs</b></h3> Be that as it may, there is one segment of the OTC market that investors need not fear.</p><p><blockquote><h3><b>合法OTC</b></h3>尽管如此，场外交易市场的一部分投资者不必担心。</blockquote></p><p> Amidst the riff-raff, some of the biggest, most respected foreign companies in the world list their U.S. shares over-the-counter instead of on the major U.S. exchanges. Here, you’ll find shares of&nbsp;<b>The <a href=\"https://laohu8.com/S/IDCBY\">Industrial and Commercial Bank of China Ltd.</a></b>&nbsp;(IDCBY), which happens to be the biggest bank in the world. You also can buy shares of Switzerland’s<b>Nestlé</b>(NSRGY), the largest food company in the world; China’s&nbsp;<b><a href=\"https://laohu8.com/S/TCEHY\">Tencent Holding Ltd.</a></b>&nbsp;(TCEHY), one of the country’s largest internet service providers; and Japanese gaming giant&nbsp;<b><a href=\"https://laohu8.com/S/NTDOY\">Nintendo Co., Ltd.</a> </b>(NTDOY).</p><p><blockquote>在混混中，一些世界上最大、最受尊敬的外国公司将其美国股票在场外交易而不是在美国主要交易所上市。在这里，您可以找到<b>The<a href=\"https://laohu8.com/S/IDCBY\">中国工商银行。</a></b>（IDCBY），恰好是世界上最大的银行。您还可以购买瑞士的股票<b>雀巢</b>（NSRGY），全球最大的食品公司；中国的<b><a href=\"https://laohu8.com/S/TCEHY\">腾讯控股控股有限公司。</a></b>(TCEHY)，该国最大的互联网服务提供商之一；和日本游戏巨头<b><a href=\"https://laohu8.com/S/NTDOY\">任天堂有限公司。</a></b>（NTDOY）。</blockquote></p><p> Why would major, international publicly traded companies rub shoulders with firms that issue highly speculative penny stocks?</p><p><blockquote>为什么大型国际上市公司会与发行高度投机性细价股的公司合作？</blockquote></p><p></p><p> The reason has to do with cost and convenience. For example, a foreign firm listing on the NYSE or Nasdaq must prepare two sets of audited financial statements for everything it does – one to conform with international accounting standards, and another that adheres to the generally accepted accounting principles (GAAP) used in the U.S. That isn’t a requirement over-the-counter.</p><p><blockquote>原因与成本和便利性有关。例如，在纽约证券交易所或纳斯达克上市的外国公司必须为其所做的一切准备两套经审计的财务报表——一套符合国际会计准则，另一套符合公认会计原则(GAAP)在美国，这不是非处方药的要求。</blockquote></p><p> With an OTC listing, a foreign company gains access to the vast pool of U.S. equity investors at a fraction of the cost and effort.</p><p><blockquote>通过场外交易上市，外国公司可以以很低的成本和精力接触到庞大的美国股票投资者。</blockquote></p><p> The bottom line is that with the exception of large, established foreign firms, OTC stocks come with too many risks. It’s not possible for the average investor to know if the company is on the up and up. And even legitimate tiny companies can fail virtually overnight. The pitfalls of trading OTC stocks just aren’t worth it.</p><p><blockquote>最重要的是，除了大型老牌外国公司，场外交易股票风险太大。普通投资者不可能知道公司是否在上升。即使是合法的小公司也可能在一夜之间倒闭。场外交易股票的陷阱根本不值得。</blockquote></p><p> It’s easy enough to lose money investing in stocks. Why make it easier?</p><p><blockquote>投资股票很容易赔钱。为什么要让它更容易？</blockquote></p><p></p>","source":"lsy1629449927514","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>Penny Stocks: Why You Should Always Stay Away<blockquote>细价股：为什么你应该永远远离</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPenny Stocks: Why You Should Always Stay Away<blockquote>细价股：为什么你应该永远远离</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Kiplinger</strong><span class=\"h-time small\">2021-08-20 17:03</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Penny stocks – those stocks that trade for low prices, often with share prices of less than a dollar per share – are dangerous. Period. Indeed, with a few exceptions, investors should steer clear of these uber-cheap stocks, which typically trade over-the-counter and not on a major exchange.</p><p><blockquote>细价股——那些低价交易的股票，通常每股股价不到一美元——是危险的。周期。事实上，除了少数例外，投资者应该避开这些超便宜的股票，这些股票通常在场外交易，而不是在主要交易所交易。</blockquote></p><p> Call them penny stocks, microcaps or OTC stocks; by any name, they’re bad news. Promises of quick and easy riches are easier to fall for when an investment can be made with so little money up front. An investor might think, \"How risky could it be?\"</p><p><blockquote>看涨期权他们细价股、微型股或场外交易股票；不管叫什么名字，都是坏消息。当前期投入如此之少的资金就可以进行投资时，快速轻松致富的承诺更容易上当。投资者可能会想，“风险有多大？”</blockquote></p><p> Plenty. Per the Securities and Exchange Commission: “Academic studies find that OTC stocks tend to be highly illiquid; are frequent targets of alleged market manipulation; generate negative and volatile investment returns on average; and rarely grow into a large company or transition to listing on a stock exchange.”</p><p><blockquote>大量。根据美国证券交易委员会的说法：“学术研究发现，场外交易股票往往流动性极差；经常成为涉嫌市场操纵的目标；平均产生负面且不稳定的投资回报；并且很少成长为大公司或过渡到在证券交易所上市。”</blockquote></p><p> We’ll break down what all that means below, but suffice to say, the SEC is not a fan.</p><p><blockquote>我们将在下面详细说明这一切的含义，但我只想说，SEC并不热衷于此。</blockquote></p><p> <h3><b>Why Penny Stocks Are So Dangerous</b></h3> To be clear, this is not to say that every penny stock or OTC company is a scam. The danger is that the over-the-counter market is where the scam stocks live. Think of it as a bad neighborhood. Being there can make you a mark for a con.</p><p><blockquote><h3><b>为什么细价股如此危险</b></h3>需要明确的是，这并不是说每个细价股或场外交易公司都是骗局。危险在于，场外市场是骗局股票的生存之地。把它想象成一个糟糕的社区。在那里会让你成为骗子的标志。</blockquote></p><p> For some background, the OTC market is different from exchanges like the New York Stock Exchange or Nasdaq, where trading is centralized. There is no one OTC exchange. Instead, the OTC connects buyers and sellers over a computer- and telephone-based system. Any stock that does not trade on the NYSE, Nasdaq or other established U.S. exchange can trade over-the-counter. These securities also are known as “unlisted stocks.”</p><p><blockquote>在某些背景下，场外交易市场不同于纽约证券交易所或纳斯达克等交易集中的交易所。没有一个OTC交易所。相反，场外交易通过基于计算机和电话的系统将买家和卖家联系起来。任何不在纽约证券交易所、纳斯达克或其他美国成熟交易所交易的股票都可以进行场外交易。这些证券也被称为“非上市股票”。</blockquote></p><p> Typically, OTC stocks tend to be highly risky microcap stocks (the shares of small companies with market capitalizations of under $300 million), which include nanocap stocks (those with market values of under $50 million).</p><p><blockquote>通常，场外交易股票往往是高风险的微型股（市值低于3亿美元的小公司股票），其中包括纳米股（市值低于5000万美元的股票）。</blockquote></p><p> The SEC has long warned investors about the high risks associated with such stocks. The Financial Industry Regulatory Authority (FINRA), the industry’s self-regulatory agency, likewise waves a red flag over the buying and trading of OTC securities.</p><p><blockquote>美国证券交易委员会长期以来一直警告投资者此类股票的高风险。该行业的自律机构金融业监管局（FINRA）同样对场外证券的购买和交易发出了危险信号。</blockquote></p><p> That’s because companies that list on the OTC aren’t required to file periodic or audited financial reports as they must do if they are listed on a major exchange, such as the NYSE or the Nasdaq. In other words, there’s no way to know if they’re telling the truth when they claim to have sales and profits. The major exchanges also have listing requirements; OTC stocks don’t. For example, a company must have at least 400 shareholders and a market value of at least $40 million to get a listing on the New York Stock Exchange. The OTC makes no such requirements.</p><p><blockquote>这是因为在场外交易市场上市的公司不需要像在纽约证券交易所或纳斯达克等主要交易所上市的公司那样提交定期或经审计的财务报告。换句话说，当他们声称有销售额和利润时，没有办法知道他们是否在说实话。各大交易所也有上市要求；场外交易股票则不然。例如，一家公司必须拥有至少400名股东且市值至少4000万美元才能在纽约证券交易所上市。OTC没有这样的要求。</blockquote></p><p> Put it all together, and it makes it easier for unscrupulous managers to lie about their business prospects or commit securities fraud.</p><p><blockquote>综上所述，这使得无良的管理者更容易谎报业务前景或实施证券欺诈。</blockquote></p><p> But that’s not all. The shares that exchange hands on the OTC tend to be “illiquid,” meaning they often trade in low volumes and have a limited number of buyers and sellers. That can make it difficult or impossible for investors to buy or sell shares at the prices they want.</p><p><blockquote>但这还不是全部。在场外交易的股票往往“缺乏流动性”，这意味着它们的交易量通常很低，买家和卖家数量有限。这可能会使投资者很难或不可能以他们想要的价格买卖股票。</blockquote></p><p> That lack of liquidity also makes many OTC stocks the perfect vehicle for “pump-and-dump” schemes where stock promoters lure investors to buy shares, increasing the stock price. Then, when the price gets high enough, the pumper sells his shares, causing the stock to fall and leaving investors with poor returns, or even losses. Anyone here see&nbsp;<i>The Wolf of Wall Street</i>?</p><p><blockquote>流动性的缺乏也使许多场外交易股票成为“拉高抛售”计划的完美工具，即股票发起人引诱投资者购买股票，从而提高股价。然后，当价格足够高时，抽水者出售他的股票，导致股票下跌，给投资者留下糟糕的回报，甚至亏损。这里有人看到了吗<i>华尔街之狼</i>？</blockquote></p><p> To protect investors from falling for these schemes, the SEC suspended trading of more than 800 microcap stocks – more than 8% of the OTC market – between 2012 and 2015. Once a stock has been suspended from trading, it cannot be relisted unless the company provides updated financial information to prove it’s actually operational. Since that rarely happens, trading suspensions essentially render the shares useless to scam artists.</p><p><blockquote>为了保护投资者不上当受骗，SEC在2012年至2015年间暂停了800多只微型股（占场外交易市场的8%以上）的交易。股票一旦暂停交易，就不能重新上市，除非公司提供最新的财务信息来证明其实际运营。由于这种情况很少发生，交易暂停基本上使股票对诈骗艺术家毫无用处。</blockquote></p><p> <h3><b>Legitimate OTCs</b></h3> Be that as it may, there is one segment of the OTC market that investors need not fear.</p><p><blockquote><h3><b>合法OTC</b></h3>尽管如此，场外交易市场的一部分投资者不必担心。</blockquote></p><p> Amidst the riff-raff, some of the biggest, most respected foreign companies in the world list their U.S. shares over-the-counter instead of on the major U.S. exchanges. Here, you’ll find shares of&nbsp;<b>The <a href=\"https://laohu8.com/S/IDCBY\">Industrial and Commercial Bank of China Ltd.</a></b>&nbsp;(IDCBY), which happens to be the biggest bank in the world. You also can buy shares of Switzerland’s<b>Nestlé</b>(NSRGY), the largest food company in the world; China’s&nbsp;<b><a href=\"https://laohu8.com/S/TCEHY\">Tencent Holding Ltd.</a></b>&nbsp;(TCEHY), one of the country’s largest internet service providers; and Japanese gaming giant&nbsp;<b><a href=\"https://laohu8.com/S/NTDOY\">Nintendo Co., Ltd.</a> </b>(NTDOY).</p><p><blockquote>在混混中，一些世界上最大、最受尊敬的外国公司将其美国股票在场外交易而不是在美国主要交易所上市。在这里，您可以找到<b>The<a href=\"https://laohu8.com/S/IDCBY\">中国工商银行。</a></b>（IDCBY），恰好是世界上最大的银行。您还可以购买瑞士的股票<b>雀巢</b>（NSRGY），全球最大的食品公司；中国的<b><a href=\"https://laohu8.com/S/TCEHY\">腾讯控股控股有限公司。</a></b>(TCEHY)，该国最大的互联网服务提供商之一；和日本游戏巨头<b><a href=\"https://laohu8.com/S/NTDOY\">任天堂有限公司。</a></b>（NTDOY）。</blockquote></p><p> Why would major, international publicly traded companies rub shoulders with firms that issue highly speculative penny stocks?</p><p><blockquote>为什么大型国际上市公司会与发行高度投机性细价股的公司合作？</blockquote></p><p></p><p> The reason has to do with cost and convenience. For example, a foreign firm listing on the NYSE or Nasdaq must prepare two sets of audited financial statements for everything it does – one to conform with international accounting standards, and another that adheres to the generally accepted accounting principles (GAAP) used in the U.S. That isn’t a requirement over-the-counter.</p><p><blockquote>原因与成本和便利性有关。例如，在纽约证券交易所或纳斯达克上市的外国公司必须为其所做的一切准备两套经审计的财务报表——一套符合国际会计准则，另一套符合公认会计原则(GAAP)在美国，这不是非处方药的要求。</blockquote></p><p> With an OTC listing, a foreign company gains access to the vast pool of U.S. equity investors at a fraction of the cost and effort.</p><p><blockquote>通过场外交易上市，外国公司可以以很低的成本和精力接触到庞大的美国股票投资者。</blockquote></p><p> The bottom line is that with the exception of large, established foreign firms, OTC stocks come with too many risks. It’s not possible for the average investor to know if the company is on the up and up. And even legitimate tiny companies can fail virtually overnight. The pitfalls of trading OTC stocks just aren’t worth it.</p><p><blockquote>最重要的是，除了大型老牌外国公司，场外交易股票风险太大。普通投资者不可能知道公司是否在上升。即使是合法的小公司也可能在一夜之间倒闭。场外交易股票的陷阱根本不值得。</blockquote></p><p> It’s easy enough to lose money investing in stocks. Why make it easier?</p><p><blockquote>投资股票很容易赔钱。为什么要让它更容易？</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.kiplinger.com/investing/603303/penny-stocks-always-stay-away\">Kiplinger</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IDCBY":"工商银行ADR","TCEHY":"腾讯控股ADR","NTDOY":"任天堂"},"source_url":"https://www.kiplinger.com/investing/603303/penny-stocks-always-stay-away","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172699620","content_text":"Penny stocks – those stocks that trade for low prices, often with share prices of less than a dollar per share – are dangerous. Period. Indeed, with a few exceptions, investors should steer clear of these uber-cheap stocks, which typically trade over-the-counter and not on a major exchange.\nCall them penny stocks, microcaps or OTC stocks; by any name, they’re bad news. Promises of quick and easy riches are easier to fall for when an investment can be made with so little money up front. An investor might think, \"How risky could it be?\"\nPlenty. Per the Securities and Exchange Commission: “Academic studies find that OTC stocks tend to be highly illiquid; are frequent targets of alleged market manipulation; generate negative and volatile investment returns on average; and rarely grow into a large company or transition to listing on a stock exchange.”\nWe’ll break down what all that means below, but suffice to say, the SEC is not a fan.\nWhy Penny Stocks Are So Dangerous\nTo be clear, this is not to say that every penny stock or OTC company is a scam. The danger is that the over-the-counter market is where the scam stocks live. Think of it as a bad neighborhood. Being there can make you a mark for a con.\nFor some background, the OTC market is different from exchanges like the New York Stock Exchange or Nasdaq, where trading is centralized. There is no one OTC exchange. Instead, the OTC connects buyers and sellers over a computer- and telephone-based system. Any stock that does not trade on the NYSE, Nasdaq or other established U.S. exchange can trade over-the-counter. These securities also are known as “unlisted stocks.”\nTypically, OTC stocks tend to be highly risky microcap stocks (the shares of small companies with market capitalizations of under $300 million), which include nanocap stocks (those with market values of under $50 million).\nThe SEC has long warned investors about the high risks associated with such stocks. The Financial Industry Regulatory Authority (FINRA), the industry’s self-regulatory agency, likewise waves a red flag over the buying and trading of OTC securities.\nThat’s because companies that list on the OTC aren’t required to file periodic or audited financial reports as they must do if they are listed on a major exchange, such as the NYSE or the Nasdaq. In other words, there’s no way to know if they’re telling the truth when they claim to have sales and profits. The major exchanges also have listing requirements; OTC stocks don’t. For example, a company must have at least 400 shareholders and a market value of at least $40 million to get a listing on the New York Stock Exchange. The OTC makes no such requirements.\nPut it all together, and it makes it easier for unscrupulous managers to lie about their business prospects or commit securities fraud.\nBut that’s not all. The shares that exchange hands on the OTC tend to be “illiquid,” meaning they often trade in low volumes and have a limited number of buyers and sellers. That can make it difficult or impossible for investors to buy or sell shares at the prices they want.\nThat lack of liquidity also makes many OTC stocks the perfect vehicle for “pump-and-dump” schemes where stock promoters lure investors to buy shares, increasing the stock price. Then, when the price gets high enough, the pumper sells his shares, causing the stock to fall and leaving investors with poor returns, or even losses. Anyone here see The Wolf of Wall Street?\nTo protect investors from falling for these schemes, the SEC suspended trading of more than 800 microcap stocks – more than 8% of the OTC market – between 2012 and 2015. Once a stock has been suspended from trading, it cannot be relisted unless the company provides updated financial information to prove it’s actually operational. Since that rarely happens, trading suspensions essentially render the shares useless to scam artists.\nLegitimate OTCs\nBe that as it may, there is one segment of the OTC market that investors need not fear.\nAmidst the riff-raff, some of the biggest, most respected foreign companies in the world list their U.S. shares over-the-counter instead of on the major U.S. exchanges. Here, you’ll find shares of The Industrial and Commercial Bank of China Ltd. (IDCBY), which happens to be the biggest bank in the world. You also can buy shares of Switzerland’sNestlé(NSRGY), the largest food company in the world; China’s Tencent Holding Ltd. (TCEHY), one of the country’s largest internet service providers; and Japanese gaming giant Nintendo Co., Ltd. (NTDOY).\nWhy would major, international publicly traded companies rub shoulders with firms that issue highly speculative penny stocks?\nThe reason has to do with cost and convenience. For example, a foreign firm listing on the NYSE or Nasdaq must prepare two sets of audited financial statements for everything it does – one to conform with international accounting standards, and another that adheres to the generally accepted accounting principles (GAAP) used in the U.S. That isn’t a requirement over-the-counter.\nWith an OTC listing, a foreign company gains access to the vast pool of U.S. equity investors at a fraction of the cost and effort.\nThe bottom line is that with the exception of large, established foreign firms, OTC stocks come with too many risks. It’s not possible for the average investor to know if the company is on the up and up. And even legitimate tiny companies can fail virtually overnight. The pitfalls of trading OTC stocks just aren’t worth it.\nIt’s easy enough to lose money investing in stocks. Why make it easier?","news_type":1,"symbols_score_info":{"IDCBY":0.9,"NTDOY":0.9,"TCEHY":0.9}},"isVote":1,"tweetType":1,"viewCount":3031,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177399759,"gmtCreate":1627179263471,"gmtModify":1633767438285,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"Like and comment please, thank you","listText":"Like and comment please, thank you","text":"Like and comment please, thank you","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/177399759","repostId":"1112927800","repostType":4,"repost":{"id":"1112927800","kind":"news","pubTimestamp":1627089375,"share":"https://www.laohu8.com/m/news/1112927800?lang=zh_CN&edition=full","pubTime":"2021-07-24 09:16","market":"us","language":"en","title":"Will NIO Stock Follow Tesla's Footsteps? What To Consider Between These Two EV Stocks<blockquote>蔚来股票会追随特斯拉的脚步吗？这两只电动汽车股票之间需要考虑什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1112927800","media":"seekingalpha","summary":"Let's take a look at how NIO compares to Tesla today, NIO's unique selling points, and the similarities between the two companies.NIO is a high-growth choice that does not seem overly expensive relative to how Tesla is valued.NIO is not a low-risk stock, however, and it may not be a good choice for everyone. Investors should also consider NIO's valuation versus legacy car companies.Both companies have benefitted from growing interest in EVs during 2020, a trend that saw share prices of most EV p","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Let's take a look at how NIO compares to Tesla today, NIO's unique selling points, and the similarities between the two companies.</li>  <li>NIO is a high-growth choice that does not seem overly expensive relative to how Tesla is valued.</li>  <li>NIO is not a low-risk stock, however, and it may not be a good choice for everyone. Investors should also consider NIO's valuation versus legacy car companies.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2f749c70c8a2af3e18d5f6cecc72bfbb\" tg-width=\"1536\" tg-height=\"704\" referrerpolicy=\"no-referrer\"><span>ipopba/iStock via Getty Images</span></p><p><blockquote><ul><li>让我们来看看今天的蔚来与特斯拉相比如何，蔚来的独特卖点，以及两家公司的相似之处。</li><li>蔚来是一个高增长的选择，相对于特斯拉的估值，它似乎并不太昂贵。</li><li>然而，蔚来并不是一只低风险股票，它可能并不是每个人的好选择。投资者还应该考虑蔚来与传统汽车公司的估值。</li></ul><p class=\"t-img-caption\"><span>ipopba/iStock来自Getty Images</span></p></blockquote></p><p> <b>Article Thesis</b></p><p><blockquote><b>文章论文</b></blockquote></p><p> NIO, Inc. (NIO) is one of China's leading EV players, and has, through an attractive brand and its unique BaaS offering, attracted a lot of interest from consumers and investors. Today, however, the company is still way smaller than Tesla (TSLA), which is currently leading the global EV market. NIO is focused on its home market right now, which was true when Tesla was a smaller company as well, but NIO will try to grab market share in overseas markets as well. Shares are pricing in a lot of growth already, but if NIO can replicate Tesla's success, that could be more than justified.</p><p><blockquote>蔚来公司（蔚来）是中国领先的电动汽车制造商之一，通过其有吸引力的品牌和独特的BaaS产品吸引了消费者和投资者的极大兴趣。然而，如今，该公司仍然比目前引领全球电动汽车市场的特斯拉（TSLA）小得多。蔚来目前专注于国内市场，当特斯拉还是一家较小的公司时也是如此，但蔚来也将试图在海外市场抢占市场份额。股价已经反映了很大的增长，但如果蔚来能够复制特斯拉的成功，这可能是非常合理的。</blockquote></p><p> <b>NIO And TSLA Stock Prices</b></p><p><blockquote><b>蔚来和特斯拉股价</b></blockquote></p><p> Both companies have benefitted from growing interest in EVs during 2020, a trend that saw share prices of most EV pureplays rise rapidly. The combination of growing market share for EVs, accommodating policies such as subsidies for EV purchases, and massive monetary stimulus let shares of NIO and TSLA rise rapidly. NIO is up 245% over the last year, while TSLA is up 101% over the same time. Both companies are currently trading below their all-time highs, however, which were hit in early 2021 before market sentiment for EV pureplays cooled to some degree.</p><p><blockquote>2020年，两家公司都受益于人们对电动汽车日益增长的兴趣，这一趋势导致大多数纯电动汽车公司的股价迅速上涨。电动汽车市场份额不断增长、电动汽车购买补贴等宽松政策以及大规模货币刺激措施相结合，让蔚来和特斯拉的股价迅速上涨。蔚来去年上涨了245%，而特斯拉同期上涨了101%。然而，两家公司目前的交易价格均低于2021年初创下的历史高点，随后纯电动汽车的市场情绪在一定程度上降温。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5ff5ce865807df85283775d2293b41af\" tg-width=\"635\" tg-height=\"481\" referrerpolicy=\"no-referrer\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Taking a quick look at analyst price targets, we see that Tesla is trading almost perfectly in line with the consensus, whereas NIO trades about 30% below the analyst target. If the analyst community is right, then NIO is a substantially better investment right here, as Tesla is not expected to see its shares rise meaningfully over the next year, whereas NIO has significant upside to the analyst price target.</p><p><blockquote>快速浏览一下分析师的目标价，我们发现特斯拉的交易价格几乎完全符合共识，而蔚来的交易价格比分析师目标低约30%。如果分析师界是正确的，那么蔚来是一项更好的投资，因为预计特斯拉的股价明年不会大幅上涨，而蔚来的股价较分析师目标价有显着上涨空间。</blockquote></p><p> <b>Is NIO Similar To Tesla?</b></p><p><blockquote><b>蔚来和特斯拉相似吗？</b></blockquote></p><p> The answer to that question depends on what you focus on. There are similarities between the two companies, but there are also differences. One could thus say that, in some ways, the two are similar, but in others, they are not. Let's look at a couple of things:</p><p><blockquote>这个问题的答案取决于你关注的是什么。两家公司有相似之处，但也有不同之处。因此，人们可以说，在某些方面，两者是相似的，但在另一些方面，它们不是。让我们看几件事：</blockquote></p><p> <b>Business Model</b></p><p><blockquote><b>商业模式</b></blockquote></p><p> Both companies are focused on the EV space, although Tesla has, over the years, been building out a couple of other businesses as well, such as energy storage. Most of Tesla's revenues are generated through selling electric vehicles, which is also how NIO operates. Both companies are focused on the premium segment of EVs, selling higher-priced vehicles that compete with brands such as BMW, Mercedes, and Lexus. Both companies offer a small range of different vehicles, in Tesla's case those are the well-known S, X, 3, and Y, whereas NIO offers a sedan (ET7), and three SUVs (EC6, ES6, ES8). Despite the fact that NIO is a way smaller company today, the model lineups of the two companies do thus not differ too much.</p><p><blockquote>两家公司都专注于电动汽车领域，尽管特斯拉多年来也在发展其他一些业务，例如储能。特斯拉的大部分收入来自销售电动汽车，这也是蔚来的运营方式。两家公司都专注于电动汽车的高端市场，销售价格较高的汽车，与宝马、梅赛德斯和雷克萨斯等品牌竞争。两家公司都提供少量不同的车辆，特斯拉是著名的S、X、3和Y，而蔚来则提供一款轿车(ET7)和三款SUV(EC6、ES6、ES8)。尽管蔚来如今是一家规模较小的公司，但两家公司的车型阵容并没有太大差异。</blockquote></p><p> Both companies offer some type of charging infrastructure to their customers, in Tesla's case, that's the Supercharger network, where Tesla owners can charge their cars with up to 250kW, depending on what version of Supercharger is installed. NIO is following a different approach, offering a battery-as-a-service solution to its customers. NIO owners can get their battery switched out to a fully-charged battery at NIO's stations, a process that takes a couple of minutes and is thus significantly quicker compared to the regular EV charging offered by Tesla and other EV players. BaaS thus has advantages when it comes to the time it takes for a charge/swap, but it should be noted that Tesla's Superchargers are way more common around the world compared to NIO's battery-swapping stations. Rolling out that feature in additional markets will require large capital expenditures, but NIO's offering is a unique selling point compared to what all other EV players, including Tesla, are offering. It remains to be seen whether that will ultimately pay off, but this could become a major advantage for NIO as competition in the EV space is heating up.</p><p><blockquote>两家公司都向客户提供某种类型的充电基础设施，就特斯拉而言，这就是Supercharger网络，特斯拉车主可以根据安装的Supercharger版本为汽车充电高达250kW。蔚来正在采取不同的方法，为客户提供电池即服务解决方案。蔚来车主可以在蔚来的充电站将电池更换为充满电的电池，这一过程需要几分钟，因此与特斯拉和其他电动汽车厂商提供的常规电动汽车充电相比要快得多。因此，BaaS在充电/交换所需时间方面具有优势，但应该指出的是，与蔚来的电池交换站相比，特斯拉的超级充电站在世界各地更为常见。在其他市场推出该功能将需要大量资本支出，但与包括特斯拉在内的所有其他电动汽车厂商相比，蔚来的产品是一个独特的卖点。这最终是否会得到回报还有待观察，但随着电动汽车领域的竞争加剧，这可能成为蔚来的一大优势。</blockquote></p><p> <b>Size, growth, and valuation</b></p><p><blockquote><b>规模、增长和估值</b></blockquote></p><p></p><p> The two companies differ significantly in size, both when it comes to revenues and vehicle sales, as well as when it comes to the market value of the two companies. NIO has delivered22,000 vehicles in Q2, up 112% year over year, for an annual pace of around 90,000 vehicles. Tesla, meanwhile, has delivered 201,000 vehicles during Q2, up from 103,000 vehicles delivered during Q2 2020. This is strong growth on a year-over-year basis, although slightly below 100%, and thus below the growth rate that NIO is generating for now.</p><p><blockquote>这两家公司的规模差异很大，无论是在收入和汽车销量方面，还是在两家公司的市值方面。蔚来第二季度交付了22,000辆汽车，同比增长112%，年增长率约为90,000辆。与此同时，特斯拉在第二季度交付了201,000辆汽车，高于2020年第二季度的103,000辆汽车。这是一个强劲的同比增长，尽管略低于100%，因此低于蔚来目前的增长率。</blockquote></p><p> Tesla delivers around 9x as many vehicles compared to NIO per quarter, when we look at the market capitalizations of the two companies, we see that the ratio is almost exactly the same, as Tesla's market cap of $640 billion is ~9x as high as that of NIO, at $72 billion. At similar growth rates, that would make perfect sense, but it looks like NIO might be the better deal for now, as it trades at a comparable valuation while generating better growth. This will be especially true in the coming quarters, where Tesla's growth is expected to slow down:</p><p><blockquote>与蔚来相比，特斯拉每季度交付的汽车数量约为9倍，当我们查看两家公司的市值时，我们发现这一比例几乎完全相同，因为特斯拉6400亿美元的市值约为9倍。蔚来的市值为720亿美元。在类似的增长率下，这是完全有道理的，但目前看来蔚来可能是更好的交易，因为它的估值相当，同时产生更好的增长。在未来几个季度尤其如此，预计特斯拉的增长将放缓：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a986ea65130206f99961a46ce6cfed55\" tg-width=\"635\" tg-height=\"515\" referrerpolicy=\"no-referrer\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Tesla is forecasted to grow its revenue from $49 billion in 2021 to $83 billion in 2023, for an annual growth rate of 30%. NIO, meanwhile, is expected to see its revenue explode upwards from $5.4 billion to $12.8 billion between 2021 and 2023, for an annual growth rate of 54%. NIO is thus expected to grow way faster than Tesla over the next two years, on a relative basis. This shouldn't be a surprise, to be honest, as the law of large numbers dictates that maintaining massive growth rates becomes increasingly hard for a company the bigger it gets, and Tesla seems to have hit that point by now -- adding 50%+ a year to its top line will not be possible forever. This isn't even necessarily Tesla's fault, in fact, many high-quality growth companies have experienced the same. But investors should still consider this important fact -- Tesla's growth in coming years will be less exciting compared to what we have seen in the past, and peers, such as NIO, are growing faster.</p><p><blockquote>特斯拉的收入预计将从2021年的490亿美元增长到2023年的830亿美元，年增长率为30%。与此同时，蔚来的收入预计将在2021年至2023年间从54亿美元猛增至128亿美元，年增长率为54%。因此，相对而言，预计未来两年蔚来的增长速度将远远快于特斯拉。老实说，这并不奇怪，因为大数定律表明，对于一家规模越大的公司来说，保持大幅增长率就变得越来越困难，而特斯拉现在似乎已经达到了这一点——每年增加50%以上的收入将永远不可能。这甚至不一定是特斯拉的错，事实上，许多优质成长型公司都经历过同样的事情。但投资者仍应考虑这一重要事实——与我们过去看到的相比，特斯拉未来几年的增长将不那么令人兴奋，而蔚来等同行的增长速度更快。</blockquote></p><p> The same holds true when we take a longer-term view. Revenue estimates for 2025 rest at$22.6 billionfor NIO, up another 80% from the 2023 estimate, and up 320% from what analysts are forecasting for 2021. Tesla, meanwhile, is forecasted to generate revenues of $122.5 billion in 2025 -- a large number, but up by a comparatively weak 48% from 2023, and up by a total of 150% versus 2021. Between 2021 and 2025, NIO will thus 4x its revenue, while Tesla will 2.5x its revenue in the same time span -- a meaningful difference that should, all else equal, allow for a premium valuation for NIO, in the same way Tesla deserves a premium valuation versus legacy players such as Volkswagen (OTCPK:VWAGY).</p><p><blockquote>当我们从长远来看时，情况也是如此。蔚来2025年的收入预期为226亿美元，比2023年的预期再增长80%，比分析师对2021年的预测增长320%。与此同时，特斯拉预计2025年的收入将达到1,225亿美元，这是一个很大的数字，但比2023年增长了48%，比2021年总共增长了150%。因此，在2021年至2025年间，蔚来的收入将增加4倍，而特斯拉的收入将在同一时期增加2.5倍——在其他条件相同的情况下，这是一个有意义的差异，应该允许蔚来获得溢价估值，就像特斯拉一样。与大众汽车（OTCPK：VWAGY）等传统企业相比，它值得获得溢价估值。</blockquote></p><p> Looking at revenue estimates for 2025 relative to how the two companies are valued today, we see that NIO trades at 3.2x 2025 sales, while the 2025 sales multiple for Tesla is 5.2. For a long-term oriented investor, NIO thus seems like the better value today, thanks to the fact that it is trading at a significantly lower sales multiple when we take a look into the future. This does not necessarily mean that NIO is cheap, however, as even a 3.2x 2025 sales multiple is relatively high compared to how legacy auto companies are valued. NIO is looking less expensive than Tesla, however, even if its shares are not cheap on an absolute basis.</p><p><blockquote>相对于两家公司目前的估值来看2025年的收入预期，我们发现蔚来的市盈率为2025年销售额的3.2倍，而特斯拉2025年的销售额倍数为5.2倍。因此，对于长期投资者来说，蔚来今天似乎更有价值，因为当我们展望未来时，它的销售倍数要低得多。然而，这并不一定意味着蔚来很便宜，因为与传统汽车公司的估值相比，即使2025年3.2倍的销售倍数也相对较高。然而，蔚来看起来比特斯拉便宜，尽管其股价绝对并不便宜。</blockquote></p><p> <b>Can NIO Be Worth As Much As Tesla?</b></p><p><blockquote><b>蔚来能和特斯拉一样值钱吗？</b></blockquote></p><p> The answer to that depends on what time frame you are looking at. Today, NIO is significantly smaller than Tesla and thus rightfully trades at a way smaller market cap. It should also be noted that there is no guarantee that Tesla's shares are a great example of how an EV company should be valued -- it is, at least, possible that its shares are significantly&nbsp;overpriced&nbsp;today, I personally believe that as well (Note that some will argue that shares are&nbsp;underpriced, which is also among the possibilities, although I do not hold that belief personally).</p><p><blockquote>这个问题的答案取决于你所关注的时间框架。如今，蔚来的规模明显小于特斯拉，因此其市值也相应地小得多。还应该指出的是，不能保证特斯拉的股票是电动汽车公司应该如何估值的一个很好的例子——至少，它的股票今天有可能被严重高估，我个人也相信这一点（请注意，有些人会认为股票定价过低，这也是一种可能性，尽管我个人并不持有这种信念）。</blockquote></p><p></p><p> When we do, for a moment, assume that Tesla is correctly valued today and that EV companies do deserve a market cap in the $600 billion range when they sell about 800,000 vehicles a year, then NIO could eventually hit that as well, although not in the near term. NIO will sell about 90,000 vehicles this year, and that amount should grow to about 400,000 in 2025. If NIO were to grow its sales by 15% a year beyond that point, it could sell around 800,000 cars in 2030, or 9 years from now. If one wants to assume faster growth, the 800,000 vehicles a year line could also be crossed before 2030, e.g. in 2028 or 2029. If we do go with 2030 for now, then NIO could, at a similar deliveries-to-market capitalization ratio to Tesla, be valued at $600+ billion in 2030. In other words, NIO could be worth as much as Tesla (today) in nine years, when we assume that current growth projections are realistic and that a Tesla-like valuation is appropriate. Those are two major ifs, of course, and especially the second point is far from certain, I believe. I personally would not be too surprised to see Tesla's valuation compress, and thus NIO could trade well below the $600 billion market cap level in 2030, even if it continues to grow meaningfully. It is also possible that NIO's growth disappoints and that current projections are too bullish, although I think that NIO is well-positioned for growth thanks to its unique BaaS model and its strong brand that is especially well-recognized in its home market.</p><p><blockquote>当我们暂时假设特斯拉今天的估值是正确的，并且电动汽车公司每年销售约80万辆汽车时确实应该获得6000亿美元的市值时，那么蔚来最终也可能达到这一目标，尽管不是在近期。蔚来今年将销售约9万辆汽车，2025年这一数字将增长至约40万辆。如果蔚来的销量在此之后每年增长15%，那么到2030年（即9年后），它可能会售出约80万辆汽车。如果想要更快的增长，也可以在2030年之前跨越每年80万辆汽车的界限，例如2028年或2029年。如果我们现在确实选择2030年，那么按照与特斯拉类似的交付量与市值比率，蔚来到2030年的估值可能会超过6000亿美元。换句话说，如果我们假设当前的增长预测是现实的，并且类似特斯拉的估值是合适的，那么九年后蔚来的价值可能会与特斯拉（今天）一样高。当然，这是两个主要的如果，尤其是第二点，我认为还远未确定。我个人不会对特斯拉的估值压缩感到太惊讶，因此蔚来的市值在2030年可能远低于6000亿美元的水平，即使它继续大幅增长。蔚来的增长也有可能令人失望，目前的预测过于乐观，尽管我认为蔚来凭借其独特的BaaS模式和在国内市场特别受认可的强大品牌，处于良好的增长地位。</blockquote></p><p> It should also be noted that Tesla's market cap in 2030 could be very different from $600 billion, thus even in case NIO hits that level, it is not at all guaranteed that the two companies will have a similar market cap. Tesla might be valued at a way higher valuation by then, e.g. if the ARK model is right (something I personally think is unlikely). To answer the above question, one could thus say that NIO might be worth hundreds of billions of dollars, like Tesla, in 8-10 years, but that is not at all guaranteed. And even if that were to happen, Tesla might be worth significantly more by then.</p><p><blockquote>还应该指出的是，特斯拉2030年的市值可能与6000亿美元有很大不同，因此即使蔚来达到这一水平，也不能保证两家公司的市值会相似。到那时，特斯拉的估值可能会高得多，例如如果方舟模型是正确的（我个人认为不太可能）。为了回答上述问题，人们可以说，蔚来可能在8-10年内像特斯拉一样价值数千亿美元，但这根本不能保证。即使这种情况发生，到那时特斯拉的价值也可能会高得多。</blockquote></p><p> <b>Is NIO A Good Stock To Buy Or Sell Now?</b></p><p><blockquote><b>蔚来现在是买入或卖出的好股票吗？</b></blockquote></p><p> When considering NIO as an investment, it doesn't really matter all that much whether it will become as large or highly valued as Tesla eventually. Instead, investors should ask themselves what total returns they can expect over the next couple of years, and whether those expected returns are high enough relative to the risks in NIO's business model. Regarding those risks, one should mention the fact that the company isn't profitable yet, which means that NIO is dependent on cash on its balance sheet for growth investments. On top of that, competition in the EV space is growing, and market share battles could pressure margins in coming years, although NIO seems relatively well-positioned thanks to its battery-swapping, which is, I believe, a strong USP. Last but not least, the company's dependence on its home market China is a potential risk that should be kept in mind, although it should also be noted that, for now, it seems like the Chinese government is very accommodating to Chinese EV companies.</p><p><blockquote>当将蔚来视为一项投资时，它最终是否会变得像特斯拉一样庞大或估值很高并不重要。相反，投资者应该问自己，未来几年他们可以预期的总回报是多少，以及相对于蔚来商业模式的风险，这些预期回报是否足够高。关于这些风险，应该提到的事实是，该公司尚未盈利，这意味着蔚来依赖其资产负债表上的现金进行增长投资。最重要的是，电动汽车领域的竞争正在加剧，市场份额之争可能会在未来几年给利润率带来压力，尽管蔚来似乎由于其电池交换而处于相对有利的地位，我认为这是一个强大的USP。最后但并非最不重要的是，该公司对中国本土市场的依赖是一个应该牢记的潜在风险，尽管还应该指出的是，目前中国政府似乎对中国电动汽车公司非常包容。</blockquote></p><p> One could argue that valuations across the whole EV industry are too high, relative to how legacy auto companies are valued. Even those legacy players with attractive EV offerings such as Volkswagen or Ford trade at huge discounts compared to EV pureplays. But if one wants to invest in an EV pureplay, NIO doesn't seem like a bad choice. The company combines a strong brand, a unique BaaS offering, high growth rates, and shares trade at a discount compared to how the EV king Tesla is valued. At a little above 3x 2025 revenue, NIO does not seem overly expensive relative to other EV pureplays, although this still represents a premium versus legacy players, of course. If NIO manages to execute well and continues to roll out new models that are well-received by consumers, its shares could have significant upside potential in the long run. If EV stocks ever become an out-of-favor investment, NIO stock also could have considerable downside, however, this thus is not a low-risk pick. Depending on your risk tolerance, NIO could still be of value if you want a high-growth EV pureplay.</p><p><blockquote>有人可能会说，相对于传统汽车公司的估值，整个电动汽车行业的估值过高。与纯电动汽车相比，即使是大众汽车或福特等拥有有吸引力的电动汽车产品的传统企业，其交易也有巨大的折扣。但如果你想投资纯电动汽车，蔚来似乎是一个不错的选择。该公司结合了强大的品牌、独特的BaaS产品、高增长率，并且与电动汽车之王特斯拉的估值相比，股票交易价格有折扣。与其他纯电动汽车公司相比，蔚来2025年收入略高于3倍，似乎并不算太贵，当然，与传统公司相比，这仍然代表着溢价。如果蔚来能够表现良好并继续推出深受消费者欢迎的新车型，从长远来看，其股价可能具有巨大的上涨潜力。如果电动汽车股票成为不受欢迎的投资，蔚来股票也可能有相当大的下跌空间，然而，这并不是一个低风险的选择。根据您的风险承受能力，如果您想要高增长的纯电动汽车，蔚来仍然可能具有价值。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Will NIO Stock Follow Tesla's Footsteps? What To Consider Between These Two EV Stocks<blockquote>蔚来股票会追随特斯拉的脚步吗？这两只电动汽车股票之间需要考虑什么</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWill NIO Stock Follow Tesla's Footsteps? What To Consider Between These Two EV Stocks<blockquote>蔚来股票会追随特斯拉的脚步吗？这两只电动汽车股票之间需要考虑什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-07-24 09:16</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Let's take a look at how NIO compares to Tesla today, NIO's unique selling points, and the similarities between the two companies.</li>  <li>NIO is a high-growth choice that does not seem overly expensive relative to how Tesla is valued.</li>  <li>NIO is not a low-risk stock, however, and it may not be a good choice for everyone. Investors should also consider NIO's valuation versus legacy car companies.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2f749c70c8a2af3e18d5f6cecc72bfbb\" tg-width=\"1536\" tg-height=\"704\" referrerpolicy=\"no-referrer\"><span>ipopba/iStock via Getty Images</span></p><p><blockquote><ul><li>让我们来看看今天的蔚来与特斯拉相比如何，蔚来的独特卖点，以及两家公司的相似之处。</li><li>蔚来是一个高增长的选择，相对于特斯拉的估值，它似乎并不太昂贵。</li><li>然而，蔚来并不是一只低风险股票，它可能并不是每个人的好选择。投资者还应该考虑蔚来与传统汽车公司的估值。</li></ul><p class=\"t-img-caption\"><span>ipopba/iStock来自Getty Images</span></p></blockquote></p><p> <b>Article Thesis</b></p><p><blockquote><b>文章论文</b></blockquote></p><p> NIO, Inc. (NIO) is one of China's leading EV players, and has, through an attractive brand and its unique BaaS offering, attracted a lot of interest from consumers and investors. Today, however, the company is still way smaller than Tesla (TSLA), which is currently leading the global EV market. NIO is focused on its home market right now, which was true when Tesla was a smaller company as well, but NIO will try to grab market share in overseas markets as well. Shares are pricing in a lot of growth already, but if NIO can replicate Tesla's success, that could be more than justified.</p><p><blockquote>蔚来公司（蔚来）是中国领先的电动汽车制造商之一，通过其有吸引力的品牌和独特的BaaS产品吸引了消费者和投资者的极大兴趣。然而，如今，该公司仍然比目前引领全球电动汽车市场的特斯拉（TSLA）小得多。蔚来目前专注于国内市场，当特斯拉还是一家较小的公司时也是如此，但蔚来也将试图在海外市场抢占市场份额。股价已经反映了很大的增长，但如果蔚来能够复制特斯拉的成功，这可能是非常合理的。</blockquote></p><p> <b>NIO And TSLA Stock Prices</b></p><p><blockquote><b>蔚来和特斯拉股价</b></blockquote></p><p> Both companies have benefitted from growing interest in EVs during 2020, a trend that saw share prices of most EV pureplays rise rapidly. The combination of growing market share for EVs, accommodating policies such as subsidies for EV purchases, and massive monetary stimulus let shares of NIO and TSLA rise rapidly. NIO is up 245% over the last year, while TSLA is up 101% over the same time. Both companies are currently trading below their all-time highs, however, which were hit in early 2021 before market sentiment for EV pureplays cooled to some degree.</p><p><blockquote>2020年，两家公司都受益于人们对电动汽车日益增长的兴趣，这一趋势导致大多数纯电动汽车公司的股价迅速上涨。电动汽车市场份额不断增长、电动汽车购买补贴等宽松政策以及大规模货币刺激措施相结合，让蔚来和特斯拉的股价迅速上涨。蔚来去年上涨了245%，而特斯拉同期上涨了101%。然而，两家公司目前的交易价格均低于2021年初创下的历史高点，随后纯电动汽车的市场情绪在一定程度上降温。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5ff5ce865807df85283775d2293b41af\" tg-width=\"635\" tg-height=\"481\" referrerpolicy=\"no-referrer\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Taking a quick look at analyst price targets, we see that Tesla is trading almost perfectly in line with the consensus, whereas NIO trades about 30% below the analyst target. If the analyst community is right, then NIO is a substantially better investment right here, as Tesla is not expected to see its shares rise meaningfully over the next year, whereas NIO has significant upside to the analyst price target.</p><p><blockquote>快速浏览一下分析师的目标价，我们发现特斯拉的交易价格几乎完全符合共识，而蔚来的交易价格比分析师目标低约30%。如果分析师界是正确的，那么蔚来是一项更好的投资，因为预计特斯拉的股价明年不会大幅上涨，而蔚来的股价较分析师目标价有显着上涨空间。</blockquote></p><p> <b>Is NIO Similar To Tesla?</b></p><p><blockquote><b>蔚来和特斯拉相似吗？</b></blockquote></p><p> The answer to that question depends on what you focus on. There are similarities between the two companies, but there are also differences. One could thus say that, in some ways, the two are similar, but in others, they are not. Let's look at a couple of things:</p><p><blockquote>这个问题的答案取决于你关注的是什么。两家公司有相似之处，但也有不同之处。因此，人们可以说，在某些方面，两者是相似的，但在另一些方面，它们不是。让我们看几件事：</blockquote></p><p> <b>Business Model</b></p><p><blockquote><b>商业模式</b></blockquote></p><p> Both companies are focused on the EV space, although Tesla has, over the years, been building out a couple of other businesses as well, such as energy storage. Most of Tesla's revenues are generated through selling electric vehicles, which is also how NIO operates. Both companies are focused on the premium segment of EVs, selling higher-priced vehicles that compete with brands such as BMW, Mercedes, and Lexus. Both companies offer a small range of different vehicles, in Tesla's case those are the well-known S, X, 3, and Y, whereas NIO offers a sedan (ET7), and three SUVs (EC6, ES6, ES8). Despite the fact that NIO is a way smaller company today, the model lineups of the two companies do thus not differ too much.</p><p><blockquote>两家公司都专注于电动汽车领域，尽管特斯拉多年来也在发展其他一些业务，例如储能。特斯拉的大部分收入来自销售电动汽车，这也是蔚来的运营方式。两家公司都专注于电动汽车的高端市场，销售价格较高的汽车，与宝马、梅赛德斯和雷克萨斯等品牌竞争。两家公司都提供少量不同的车辆，特斯拉是著名的S、X、3和Y，而蔚来则提供一款轿车(ET7)和三款SUV(EC6、ES6、ES8)。尽管蔚来如今是一家规模较小的公司，但两家公司的车型阵容并没有太大差异。</blockquote></p><p> Both companies offer some type of charging infrastructure to their customers, in Tesla's case, that's the Supercharger network, where Tesla owners can charge their cars with up to 250kW, depending on what version of Supercharger is installed. NIO is following a different approach, offering a battery-as-a-service solution to its customers. NIO owners can get their battery switched out to a fully-charged battery at NIO's stations, a process that takes a couple of minutes and is thus significantly quicker compared to the regular EV charging offered by Tesla and other EV players. BaaS thus has advantages when it comes to the time it takes for a charge/swap, but it should be noted that Tesla's Superchargers are way more common around the world compared to NIO's battery-swapping stations. Rolling out that feature in additional markets will require large capital expenditures, but NIO's offering is a unique selling point compared to what all other EV players, including Tesla, are offering. It remains to be seen whether that will ultimately pay off, but this could become a major advantage for NIO as competition in the EV space is heating up.</p><p><blockquote>两家公司都向客户提供某种类型的充电基础设施，就特斯拉而言，这就是Supercharger网络，特斯拉车主可以根据安装的Supercharger版本为汽车充电高达250kW。蔚来正在采取不同的方法，为客户提供电池即服务解决方案。蔚来车主可以在蔚来的充电站将电池更换为充满电的电池，这一过程需要几分钟，因此与特斯拉和其他电动汽车厂商提供的常规电动汽车充电相比要快得多。因此，BaaS在充电/交换所需时间方面具有优势，但应该指出的是，与蔚来的电池交换站相比，特斯拉的超级充电站在世界各地更为常见。在其他市场推出该功能将需要大量资本支出，但与包括特斯拉在内的所有其他电动汽车厂商相比，蔚来的产品是一个独特的卖点。这最终是否会得到回报还有待观察，但随着电动汽车领域的竞争加剧，这可能成为蔚来的一大优势。</blockquote></p><p> <b>Size, growth, and valuation</b></p><p><blockquote><b>规模、增长和估值</b></blockquote></p><p></p><p> The two companies differ significantly in size, both when it comes to revenues and vehicle sales, as well as when it comes to the market value of the two companies. NIO has delivered22,000 vehicles in Q2, up 112% year over year, for an annual pace of around 90,000 vehicles. Tesla, meanwhile, has delivered 201,000 vehicles during Q2, up from 103,000 vehicles delivered during Q2 2020. This is strong growth on a year-over-year basis, although slightly below 100%, and thus below the growth rate that NIO is generating for now.</p><p><blockquote>这两家公司的规模差异很大，无论是在收入和汽车销量方面，还是在两家公司的市值方面。蔚来第二季度交付了22,000辆汽车，同比增长112%，年增长率约为90,000辆。与此同时，特斯拉在第二季度交付了201,000辆汽车，高于2020年第二季度的103,000辆汽车。这是一个强劲的同比增长，尽管略低于100%，因此低于蔚来目前的增长率。</blockquote></p><p> Tesla delivers around 9x as many vehicles compared to NIO per quarter, when we look at the market capitalizations of the two companies, we see that the ratio is almost exactly the same, as Tesla's market cap of $640 billion is ~9x as high as that of NIO, at $72 billion. At similar growth rates, that would make perfect sense, but it looks like NIO might be the better deal for now, as it trades at a comparable valuation while generating better growth. This will be especially true in the coming quarters, where Tesla's growth is expected to slow down:</p><p><blockquote>与蔚来相比，特斯拉每季度交付的汽车数量约为9倍，当我们查看两家公司的市值时，我们发现这一比例几乎完全相同，因为特斯拉6400亿美元的市值约为9倍。蔚来的市值为720亿美元。在类似的增长率下，这是完全有道理的，但目前看来蔚来可能是更好的交易，因为它的估值相当，同时产生更好的增长。在未来几个季度尤其如此，预计特斯拉的增长将放缓：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a986ea65130206f99961a46ce6cfed55\" tg-width=\"635\" tg-height=\"515\" referrerpolicy=\"no-referrer\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Tesla is forecasted to grow its revenue from $49 billion in 2021 to $83 billion in 2023, for an annual growth rate of 30%. NIO, meanwhile, is expected to see its revenue explode upwards from $5.4 billion to $12.8 billion between 2021 and 2023, for an annual growth rate of 54%. NIO is thus expected to grow way faster than Tesla over the next two years, on a relative basis. This shouldn't be a surprise, to be honest, as the law of large numbers dictates that maintaining massive growth rates becomes increasingly hard for a company the bigger it gets, and Tesla seems to have hit that point by now -- adding 50%+ a year to its top line will not be possible forever. This isn't even necessarily Tesla's fault, in fact, many high-quality growth companies have experienced the same. But investors should still consider this important fact -- Tesla's growth in coming years will be less exciting compared to what we have seen in the past, and peers, such as NIO, are growing faster.</p><p><blockquote>特斯拉的收入预计将从2021年的490亿美元增长到2023年的830亿美元，年增长率为30%。与此同时，蔚来的收入预计将在2021年至2023年间从54亿美元猛增至128亿美元，年增长率为54%。因此，相对而言，预计未来两年蔚来的增长速度将远远快于特斯拉。老实说，这并不奇怪，因为大数定律表明，对于一家规模越大的公司来说，保持大幅增长率就变得越来越困难，而特斯拉现在似乎已经达到了这一点——每年增加50%以上的收入将永远不可能。这甚至不一定是特斯拉的错，事实上，许多优质成长型公司都经历过同样的事情。但投资者仍应考虑这一重要事实——与我们过去看到的相比，特斯拉未来几年的增长将不那么令人兴奋，而蔚来等同行的增长速度更快。</blockquote></p><p> The same holds true when we take a longer-term view. Revenue estimates for 2025 rest at$22.6 billionfor NIO, up another 80% from the 2023 estimate, and up 320% from what analysts are forecasting for 2021. Tesla, meanwhile, is forecasted to generate revenues of $122.5 billion in 2025 -- a large number, but up by a comparatively weak 48% from 2023, and up by a total of 150% versus 2021. Between 2021 and 2025, NIO will thus 4x its revenue, while Tesla will 2.5x its revenue in the same time span -- a meaningful difference that should, all else equal, allow for a premium valuation for NIO, in the same way Tesla deserves a premium valuation versus legacy players such as Volkswagen (OTCPK:VWAGY).</p><p><blockquote>当我们从长远来看时，情况也是如此。蔚来2025年的收入预期为226亿美元，比2023年的预期再增长80%，比分析师对2021年的预测增长320%。与此同时，特斯拉预计2025年的收入将达到1,225亿美元，这是一个很大的数字，但比2023年增长了48%，比2021年总共增长了150%。因此，在2021年至2025年间，蔚来的收入将增加4倍，而特斯拉的收入将在同一时期增加2.5倍——在其他条件相同的情况下，这是一个有意义的差异，应该允许蔚来获得溢价估值，就像特斯拉一样。与大众汽车（OTCPK：VWAGY）等传统企业相比，它值得获得溢价估值。</blockquote></p><p> Looking at revenue estimates for 2025 relative to how the two companies are valued today, we see that NIO trades at 3.2x 2025 sales, while the 2025 sales multiple for Tesla is 5.2. For a long-term oriented investor, NIO thus seems like the better value today, thanks to the fact that it is trading at a significantly lower sales multiple when we take a look into the future. This does not necessarily mean that NIO is cheap, however, as even a 3.2x 2025 sales multiple is relatively high compared to how legacy auto companies are valued. NIO is looking less expensive than Tesla, however, even if its shares are not cheap on an absolute basis.</p><p><blockquote>相对于两家公司目前的估值来看2025年的收入预期，我们发现蔚来的市盈率为2025年销售额的3.2倍，而特斯拉2025年的销售额倍数为5.2倍。因此，对于长期投资者来说，蔚来今天似乎更有价值，因为当我们展望未来时，它的销售倍数要低得多。然而，这并不一定意味着蔚来很便宜，因为与传统汽车公司的估值相比，即使2025年3.2倍的销售倍数也相对较高。然而，蔚来看起来比特斯拉便宜，尽管其股价绝对并不便宜。</blockquote></p><p> <b>Can NIO Be Worth As Much As Tesla?</b></p><p><blockquote><b>蔚来能和特斯拉一样值钱吗？</b></blockquote></p><p> The answer to that depends on what time frame you are looking at. Today, NIO is significantly smaller than Tesla and thus rightfully trades at a way smaller market cap. It should also be noted that there is no guarantee that Tesla's shares are a great example of how an EV company should be valued -- it is, at least, possible that its shares are significantly&nbsp;overpriced&nbsp;today, I personally believe that as well (Note that some will argue that shares are&nbsp;underpriced, which is also among the possibilities, although I do not hold that belief personally).</p><p><blockquote>这个问题的答案取决于你所关注的时间框架。如今，蔚来的规模明显小于特斯拉，因此其市值也相应地小得多。还应该指出的是，不能保证特斯拉的股票是电动汽车公司应该如何估值的一个很好的例子——至少，它的股票今天有可能被严重高估，我个人也相信这一点（请注意，有些人会认为股票定价过低，这也是一种可能性，尽管我个人并不持有这种信念）。</blockquote></p><p></p><p> When we do, for a moment, assume that Tesla is correctly valued today and that EV companies do deserve a market cap in the $600 billion range when they sell about 800,000 vehicles a year, then NIO could eventually hit that as well, although not in the near term. NIO will sell about 90,000 vehicles this year, and that amount should grow to about 400,000 in 2025. If NIO were to grow its sales by 15% a year beyond that point, it could sell around 800,000 cars in 2030, or 9 years from now. If one wants to assume faster growth, the 800,000 vehicles a year line could also be crossed before 2030, e.g. in 2028 or 2029. If we do go with 2030 for now, then NIO could, at a similar deliveries-to-market capitalization ratio to Tesla, be valued at $600+ billion in 2030. In other words, NIO could be worth as much as Tesla (today) in nine years, when we assume that current growth projections are realistic and that a Tesla-like valuation is appropriate. Those are two major ifs, of course, and especially the second point is far from certain, I believe. I personally would not be too surprised to see Tesla's valuation compress, and thus NIO could trade well below the $600 billion market cap level in 2030, even if it continues to grow meaningfully. It is also possible that NIO's growth disappoints and that current projections are too bullish, although I think that NIO is well-positioned for growth thanks to its unique BaaS model and its strong brand that is especially well-recognized in its home market.</p><p><blockquote>当我们暂时假设特斯拉今天的估值是正确的，并且电动汽车公司每年销售约80万辆汽车时确实应该获得6000亿美元的市值时，那么蔚来最终也可能达到这一目标，尽管不是在近期。蔚来今年将销售约9万辆汽车，2025年这一数字将增长至约40万辆。如果蔚来的销量在此之后每年增长15%，那么到2030年（即9年后），它可能会售出约80万辆汽车。如果想要更快的增长，也可以在2030年之前跨越每年80万辆汽车的界限，例如2028年或2029年。如果我们现在确实选择2030年，那么按照与特斯拉类似的交付量与市值比率，蔚来到2030年的估值可能会超过6000亿美元。换句话说，如果我们假设当前的增长预测是现实的，并且类似特斯拉的估值是合适的，那么九年后蔚来的价值可能会与特斯拉（今天）一样高。当然，这是两个主要的如果，尤其是第二点，我认为还远未确定。我个人不会对特斯拉的估值压缩感到太惊讶，因此蔚来的市值在2030年可能远低于6000亿美元的水平，即使它继续大幅增长。蔚来的增长也有可能令人失望，目前的预测过于乐观，尽管我认为蔚来凭借其独特的BaaS模式和在国内市场特别受认可的强大品牌，处于良好的增长地位。</blockquote></p><p> It should also be noted that Tesla's market cap in 2030 could be very different from $600 billion, thus even in case NIO hits that level, it is not at all guaranteed that the two companies will have a similar market cap. Tesla might be valued at a way higher valuation by then, e.g. if the ARK model is right (something I personally think is unlikely). To answer the above question, one could thus say that NIO might be worth hundreds of billions of dollars, like Tesla, in 8-10 years, but that is not at all guaranteed. And even if that were to happen, Tesla might be worth significantly more by then.</p><p><blockquote>还应该指出的是，特斯拉2030年的市值可能与6000亿美元有很大不同，因此即使蔚来达到这一水平，也不能保证两家公司的市值会相似。到那时，特斯拉的估值可能会高得多，例如如果方舟模型是正确的（我个人认为不太可能）。为了回答上述问题，人们可以说，蔚来可能在8-10年内像特斯拉一样价值数千亿美元，但这根本不能保证。即使这种情况发生，到那时特斯拉的价值也可能会高得多。</blockquote></p><p> <b>Is NIO A Good Stock To Buy Or Sell Now?</b></p><p><blockquote><b>蔚来现在是买入或卖出的好股票吗？</b></blockquote></p><p> When considering NIO as an investment, it doesn't really matter all that much whether it will become as large or highly valued as Tesla eventually. Instead, investors should ask themselves what total returns they can expect over the next couple of years, and whether those expected returns are high enough relative to the risks in NIO's business model. Regarding those risks, one should mention the fact that the company isn't profitable yet, which means that NIO is dependent on cash on its balance sheet for growth investments. On top of that, competition in the EV space is growing, and market share battles could pressure margins in coming years, although NIO seems relatively well-positioned thanks to its battery-swapping, which is, I believe, a strong USP. Last but not least, the company's dependence on its home market China is a potential risk that should be kept in mind, although it should also be noted that, for now, it seems like the Chinese government is very accommodating to Chinese EV companies.</p><p><blockquote>当将蔚来视为一项投资时，它最终是否会变得像特斯拉一样庞大或估值很高并不重要。相反，投资者应该问自己，未来几年他们可以预期的总回报是多少，以及相对于蔚来商业模式的风险，这些预期回报是否足够高。关于这些风险，应该提到的事实是，该公司尚未盈利，这意味着蔚来依赖其资产负债表上的现金进行增长投资。最重要的是，电动汽车领域的竞争正在加剧，市场份额之争可能会在未来几年给利润率带来压力，尽管蔚来似乎由于其电池交换而处于相对有利的地位，我认为这是一个强大的USP。最后但并非最不重要的是，该公司对中国本土市场的依赖是一个应该牢记的潜在风险，尽管还应该指出的是，目前中国政府似乎对中国电动汽车公司非常包容。</blockquote></p><p> One could argue that valuations across the whole EV industry are too high, relative to how legacy auto companies are valued. Even those legacy players with attractive EV offerings such as Volkswagen or Ford trade at huge discounts compared to EV pureplays. But if one wants to invest in an EV pureplay, NIO doesn't seem like a bad choice. The company combines a strong brand, a unique BaaS offering, high growth rates, and shares trade at a discount compared to how the EV king Tesla is valued. At a little above 3x 2025 revenue, NIO does not seem overly expensive relative to other EV pureplays, although this still represents a premium versus legacy players, of course. If NIO manages to execute well and continues to roll out new models that are well-received by consumers, its shares could have significant upside potential in the long run. If EV stocks ever become an out-of-favor investment, NIO stock also could have considerable downside, however, this thus is not a low-risk pick. Depending on your risk tolerance, NIO could still be of value if you want a high-growth EV pureplay.</p><p><blockquote>有人可能会说，相对于传统汽车公司的估值，整个电动汽车行业的估值过高。与纯电动汽车相比，即使是大众汽车或福特等拥有有吸引力的电动汽车产品的传统企业，其交易也有巨大的折扣。但如果你想投资纯电动汽车，蔚来似乎是一个不错的选择。该公司结合了强大的品牌、独特的BaaS产品、高增长率，并且与电动汽车之王特斯拉的估值相比，股票交易价格有折扣。与其他纯电动汽车公司相比，蔚来2025年收入略高于3倍，似乎并不算太贵，当然，与传统公司相比，这仍然代表着溢价。如果蔚来能够表现良好并继续推出深受消费者欢迎的新车型，从长远来看，其股价可能具有巨大的上涨潜力。如果电动汽车股票成为不受欢迎的投资，蔚来股票也可能有相当大的下跌空间，然而，这并不是一个低风险的选择。根据您的风险承受能力，如果您想要高增长的纯电动汽车，蔚来仍然可能具有价值。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4440950-will-nio-stock-follow-tesla-what-to-consider-ev-stocks\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4440950-will-nio-stock-follow-tesla-what-to-consider-ev-stocks","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112927800","content_text":"Summary\n\nLet's take a look at how NIO compares to Tesla today, NIO's unique selling points, and the similarities between the two companies.\nNIO is a high-growth choice that does not seem overly expensive relative to how Tesla is valued.\nNIO is not a low-risk stock, however, and it may not be a good choice for everyone. Investors should also consider NIO's valuation versus legacy car companies.\n\nipopba/iStock via Getty Images\nArticle Thesis\nNIO, Inc. (NIO) is one of China's leading EV players, and has, through an attractive brand and its unique BaaS offering, attracted a lot of interest from consumers and investors. Today, however, the company is still way smaller than Tesla (TSLA), which is currently leading the global EV market. NIO is focused on its home market right now, which was true when Tesla was a smaller company as well, but NIO will try to grab market share in overseas markets as well. Shares are pricing in a lot of growth already, but if NIO can replicate Tesla's success, that could be more than justified.\nNIO And TSLA Stock Prices\nBoth companies have benefitted from growing interest in EVs during 2020, a trend that saw share prices of most EV pureplays rise rapidly. The combination of growing market share for EVs, accommodating policies such as subsidies for EV purchases, and massive monetary stimulus let shares of NIO and TSLA rise rapidly. NIO is up 245% over the last year, while TSLA is up 101% over the same time. Both companies are currently trading below their all-time highs, however, which were hit in early 2021 before market sentiment for EV pureplays cooled to some degree.\nData by YCharts\nTaking a quick look at analyst price targets, we see that Tesla is trading almost perfectly in line with the consensus, whereas NIO trades about 30% below the analyst target. If the analyst community is right, then NIO is a substantially better investment right here, as Tesla is not expected to see its shares rise meaningfully over the next year, whereas NIO has significant upside to the analyst price target.\nIs NIO Similar To Tesla?\nThe answer to that question depends on what you focus on. There are similarities between the two companies, but there are also differences. One could thus say that, in some ways, the two are similar, but in others, they are not. Let's look at a couple of things:\nBusiness Model\nBoth companies are focused on the EV space, although Tesla has, over the years, been building out a couple of other businesses as well, such as energy storage. Most of Tesla's revenues are generated through selling electric vehicles, which is also how NIO operates. Both companies are focused on the premium segment of EVs, selling higher-priced vehicles that compete with brands such as BMW, Mercedes, and Lexus. Both companies offer a small range of different vehicles, in Tesla's case those are the well-known S, X, 3, and Y, whereas NIO offers a sedan (ET7), and three SUVs (EC6, ES6, ES8). Despite the fact that NIO is a way smaller company today, the model lineups of the two companies do thus not differ too much.\nBoth companies offer some type of charging infrastructure to their customers, in Tesla's case, that's the Supercharger network, where Tesla owners can charge their cars with up to 250kW, depending on what version of Supercharger is installed. NIO is following a different approach, offering a battery-as-a-service solution to its customers. NIO owners can get their battery switched out to a fully-charged battery at NIO's stations, a process that takes a couple of minutes and is thus significantly quicker compared to the regular EV charging offered by Tesla and other EV players. BaaS thus has advantages when it comes to the time it takes for a charge/swap, but it should be noted that Tesla's Superchargers are way more common around the world compared to NIO's battery-swapping stations. Rolling out that feature in additional markets will require large capital expenditures, but NIO's offering is a unique selling point compared to what all other EV players, including Tesla, are offering. It remains to be seen whether that will ultimately pay off, but this could become a major advantage for NIO as competition in the EV space is heating up.\nSize, growth, and valuation\nThe two companies differ significantly in size, both when it comes to revenues and vehicle sales, as well as when it comes to the market value of the two companies. NIO has delivered22,000 vehicles in Q2, up 112% year over year, for an annual pace of around 90,000 vehicles. Tesla, meanwhile, has delivered 201,000 vehicles during Q2, up from 103,000 vehicles delivered during Q2 2020. This is strong growth on a year-over-year basis, although slightly below 100%, and thus below the growth rate that NIO is generating for now.\nTesla delivers around 9x as many vehicles compared to NIO per quarter, when we look at the market capitalizations of the two companies, we see that the ratio is almost exactly the same, as Tesla's market cap of $640 billion is ~9x as high as that of NIO, at $72 billion. At similar growth rates, that would make perfect sense, but it looks like NIO might be the better deal for now, as it trades at a comparable valuation while generating better growth. This will be especially true in the coming quarters, where Tesla's growth is expected to slow down:\nData by YCharts\nTesla is forecasted to grow its revenue from $49 billion in 2021 to $83 billion in 2023, for an annual growth rate of 30%. NIO, meanwhile, is expected to see its revenue explode upwards from $5.4 billion to $12.8 billion between 2021 and 2023, for an annual growth rate of 54%. NIO is thus expected to grow way faster than Tesla over the next two years, on a relative basis. This shouldn't be a surprise, to be honest, as the law of large numbers dictates that maintaining massive growth rates becomes increasingly hard for a company the bigger it gets, and Tesla seems to have hit that point by now -- adding 50%+ a year to its top line will not be possible forever. This isn't even necessarily Tesla's fault, in fact, many high-quality growth companies have experienced the same. But investors should still consider this important fact -- Tesla's growth in coming years will be less exciting compared to what we have seen in the past, and peers, such as NIO, are growing faster.\nThe same holds true when we take a longer-term view. Revenue estimates for 2025 rest at$22.6 billionfor NIO, up another 80% from the 2023 estimate, and up 320% from what analysts are forecasting for 2021. Tesla, meanwhile, is forecasted to generate revenues of $122.5 billion in 2025 -- a large number, but up by a comparatively weak 48% from 2023, and up by a total of 150% versus 2021. Between 2021 and 2025, NIO will thus 4x its revenue, while Tesla will 2.5x its revenue in the same time span -- a meaningful difference that should, all else equal, allow for a premium valuation for NIO, in the same way Tesla deserves a premium valuation versus legacy players such as Volkswagen (OTCPK:VWAGY).\nLooking at revenue estimates for 2025 relative to how the two companies are valued today, we see that NIO trades at 3.2x 2025 sales, while the 2025 sales multiple for Tesla is 5.2. For a long-term oriented investor, NIO thus seems like the better value today, thanks to the fact that it is trading at a significantly lower sales multiple when we take a look into the future. This does not necessarily mean that NIO is cheap, however, as even a 3.2x 2025 sales multiple is relatively high compared to how legacy auto companies are valued. NIO is looking less expensive than Tesla, however, even if its shares are not cheap on an absolute basis.\nCan NIO Be Worth As Much As Tesla?\nThe answer to that depends on what time frame you are looking at. Today, NIO is significantly smaller than Tesla and thus rightfully trades at a way smaller market cap. It should also be noted that there is no guarantee that Tesla's shares are a great example of how an EV company should be valued -- it is, at least, possible that its shares are significantly overpriced today, I personally believe that as well (Note that some will argue that shares are underpriced, which is also among the possibilities, although I do not hold that belief personally).\nWhen we do, for a moment, assume that Tesla is correctly valued today and that EV companies do deserve a market cap in the $600 billion range when they sell about 800,000 vehicles a year, then NIO could eventually hit that as well, although not in the near term. NIO will sell about 90,000 vehicles this year, and that amount should grow to about 400,000 in 2025. If NIO were to grow its sales by 15% a year beyond that point, it could sell around 800,000 cars in 2030, or 9 years from now. If one wants to assume faster growth, the 800,000 vehicles a year line could also be crossed before 2030, e.g. in 2028 or 2029. If we do go with 2030 for now, then NIO could, at a similar deliveries-to-market capitalization ratio to Tesla, be valued at $600+ billion in 2030. In other words, NIO could be worth as much as Tesla (today) in nine years, when we assume that current growth projections are realistic and that a Tesla-like valuation is appropriate. Those are two major ifs, of course, and especially the second point is far from certain, I believe. I personally would not be too surprised to see Tesla's valuation compress, and thus NIO could trade well below the $600 billion market cap level in 2030, even if it continues to grow meaningfully. It is also possible that NIO's growth disappoints and that current projections are too bullish, although I think that NIO is well-positioned for growth thanks to its unique BaaS model and its strong brand that is especially well-recognized in its home market.\nIt should also be noted that Tesla's market cap in 2030 could be very different from $600 billion, thus even in case NIO hits that level, it is not at all guaranteed that the two companies will have a similar market cap. Tesla might be valued at a way higher valuation by then, e.g. if the ARK model is right (something I personally think is unlikely). To answer the above question, one could thus say that NIO might be worth hundreds of billions of dollars, like Tesla, in 8-10 years, but that is not at all guaranteed. And even if that were to happen, Tesla might be worth significantly more by then.\nIs NIO A Good Stock To Buy Or Sell Now?\nWhen considering NIO as an investment, it doesn't really matter all that much whether it will become as large or highly valued as Tesla eventually. Instead, investors should ask themselves what total returns they can expect over the next couple of years, and whether those expected returns are high enough relative to the risks in NIO's business model. Regarding those risks, one should mention the fact that the company isn't profitable yet, which means that NIO is dependent on cash on its balance sheet for growth investments. On top of that, competition in the EV space is growing, and market share battles could pressure margins in coming years, although NIO seems relatively well-positioned thanks to its battery-swapping, which is, I believe, a strong USP. Last but not least, the company's dependence on its home market China is a potential risk that should be kept in mind, although it should also be noted that, for now, it seems like the Chinese government is very accommodating to Chinese EV companies.\nOne could argue that valuations across the whole EV industry are too high, relative to how legacy auto companies are valued. Even those legacy players with attractive EV offerings such as Volkswagen or Ford trade at huge discounts compared to EV pureplays. But if one wants to invest in an EV pureplay, NIO doesn't seem like a bad choice. The company combines a strong brand, a unique BaaS offering, high growth rates, and shares trade at a discount compared to how the EV king Tesla is valued. At a little above 3x 2025 revenue, NIO does not seem overly expensive relative to other EV pureplays, although this still represents a premium versus legacy players, of course. If NIO manages to execute well and continues to roll out new models that are well-received by consumers, its shares could have significant upside potential in the long run. If EV stocks ever become an out-of-favor investment, NIO stock also could have considerable downside, however, this thus is not a low-risk pick. Depending on your risk tolerance, NIO could still be of value if you want a high-growth EV pureplay.","news_type":1,"symbols_score_info":{"NIO":0.9,"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":2827,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":896977545,"gmtCreate":1628554154487,"gmtModify":1633746259435,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"It will continue to go up with the increasing momentum on bitcoin.","listText":"It will continue to go up with the increasing momentum on bitcoin.","text":"It will continue to go up with the increasing momentum on bitcoin.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":12,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/896977545","repostId":"1157080782","repostType":4,"repost":{"id":"1157080782","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1628517966,"share":"https://www.laohu8.com/m/news/1157080782?lang=zh_CN&edition=full","pubTime":"2021-08-09 22:06","market":"us","language":"en","title":"Coinbase shares rose 5.6% in early trading.<blockquote>Coinbase股价早盘上涨5.6%。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1157080782","media":"Tiger Newspress","summary":"Coinbase shares rose 5.6% in early trading.\nCoinbase’searnings report this week could be pivotal for","content":"<p>Coinbase&nbsp;shares&nbsp;rose&nbsp;5.6%&nbsp;in&nbsp;early&nbsp;trading.</p><p><blockquote>Coinbase股价早盘上涨5.</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e590996ee4976398d10812ffff6298d4\" tg-width=\"1293\" tg-height=\"678\" referrerpolicy=\"no-referrer\">Coinbase’searnings report this week could be pivotal for the stock, one trader says.</p><p><blockquote>一位交易员表示，比特币基地本周的收益报告可能对该股至关重要。</blockquote></p><p> Though shares of the cryptocurrency trading platform have fallen from their initial public offering price, “that negativity’s flushed out,” Blue Line Capital founder and President Bill Baruch told CNBC’s“Trading Nation”on Friday.</p><p><blockquote>Blue Line Capital创始人兼总裁比尔·巴鲁克(Bill Baruch)周五对CNBC的“Trading Nation”节目表示，尽管该加密货币交易平台的股价已较首次公开募股价格下跌，但“负面情绪已经消失”。</blockquote></p><p> “I think their user growth is going to exceed verified users of 60 million, and I think that’s going to be sort of a benchmark that they’re going to continue to feed on. Trading activity’s where they get paid as well. I think that’s going to pick up” even if major crypto assets such asbitcoinorethereumstruggle, he said.</p><p><blockquote>“我认为他们的用户增长将超过6000万经过验证的用户，我认为这将成为他们将继续依赖的一种基准。交易活动也是他们获得报酬的地方。我认为即使比特币或以太坊等主要加密资产陷入困境，这种情况也会回升”。</blockquote></p><p> That bodes well for Coinbase’s second-quarter report, scheduled for Tuesday afternoon, said Baruch, who owns bitcoin and ethereum.</p><p><blockquote>拥有比特币和以太币的巴鲁克表示，这对于定于周二下午发布的Coinbase第二季度报告来说是个好兆头。</blockquote></p><p> “There’s a good trend line support it’s coming off of and it’s broken out of a wedge of resistance,” he said. “I think this thing can go to 290-300 and I think earnings should be positive and the guidance should be good.”</p><p><blockquote>“它正在脱离一个良好的趋势线支撑，并且已经突破了楔形阻力，”他说。“我认为这件事可以达到290-300，我认为盈利应该是积极的，指导应该是好的。”</blockquote></p><p> Coinbase shares ended trading at $258.26 on Friday, up about 1%. They climbed an additional 3.8% to $268 in Monday’s premarket trading session. A run to $290 or $300 would be a 12-16% increase from Friday’s closing levels.</p><p><blockquote>Coinbase股价周五收于258.26美元，上涨约1%。周一盘前交易时段，股价又上涨3.8%，至268美元。如果升至290美元或300美元，将比周五收盘水平上涨12-16%。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coinbase shares rose 5.6% in early trading.<blockquote>Coinbase股价早盘上涨5.6%。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoinbase shares rose 5.6% in early trading.<blockquote>Coinbase股价早盘上涨5.6%。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-09 22:06</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Coinbase&nbsp;shares&nbsp;rose&nbsp;5.6%&nbsp;in&nbsp;early&nbsp;trading.</p><p><blockquote>Coinbase股价早盘上涨5.</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e590996ee4976398d10812ffff6298d4\" tg-width=\"1293\" tg-height=\"678\" referrerpolicy=\"no-referrer\">Coinbase’searnings report this week could be pivotal for the stock, one trader says.</p><p><blockquote>一位交易员表示，比特币基地本周的收益报告可能对该股至关重要。</blockquote></p><p> Though shares of the cryptocurrency trading platform have fallen from their initial public offering price, “that negativity’s flushed out,” Blue Line Capital founder and President Bill Baruch told CNBC’s“Trading Nation”on Friday.</p><p><blockquote>Blue Line Capital创始人兼总裁比尔·巴鲁克(Bill Baruch)周五对CNBC的“Trading Nation”节目表示，尽管该加密货币交易平台的股价已较首次公开募股价格下跌，但“负面情绪已经消失”。</blockquote></p><p> “I think their user growth is going to exceed verified users of 60 million, and I think that’s going to be sort of a benchmark that they’re going to continue to feed on. Trading activity’s where they get paid as well. I think that’s going to pick up” even if major crypto assets such asbitcoinorethereumstruggle, he said.</p><p><blockquote>“我认为他们的用户增长将超过6000万经过验证的用户，我认为这将成为他们将继续依赖的一种基准。交易活动也是他们获得报酬的地方。我认为即使比特币或以太坊等主要加密资产陷入困境，这种情况也会回升”。</blockquote></p><p> That bodes well for Coinbase’s second-quarter report, scheduled for Tuesday afternoon, said Baruch, who owns bitcoin and ethereum.</p><p><blockquote>拥有比特币和以太币的巴鲁克表示，这对于定于周二下午发布的Coinbase第二季度报告来说是个好兆头。</blockquote></p><p> “There’s a good trend line support it’s coming off of and it’s broken out of a wedge of resistance,” he said. “I think this thing can go to 290-300 and I think earnings should be positive and the guidance should be good.”</p><p><blockquote>“它正在脱离一个良好的趋势线支撑，并且已经突破了楔形阻力，”他说。“我认为这件事可以达到290-300，我认为盈利应该是积极的，指导应该是好的。”</blockquote></p><p> Coinbase shares ended trading at $258.26 on Friday, up about 1%. They climbed an additional 3.8% to $268 in Monday’s premarket trading session. A run to $290 or $300 would be a 12-16% increase from Friday’s closing levels.</p><p><blockquote>Coinbase股价周五收于258.26美元，上涨约1%。周一盘前交易时段，股价又上涨3.8%，至268美元。如果升至290美元或300美元，将比周五收盘水平上涨12-16%。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157080782","content_text":"Coinbase shares rose 5.6% in early trading.\nCoinbase’searnings report this week could be pivotal for the stock, one trader says.\nThough shares of the cryptocurrency trading platform have fallen from their initial public offering price, “that negativity’s flushed out,” Blue Line Capital founder and President Bill Baruch told CNBC’s“Trading Nation”on Friday.\n“I think their user growth is going to exceed verified users of 60 million, and I think that’s going to be sort of a benchmark that they’re going to continue to feed on. Trading activity’s where they get paid as well. I think that’s going to pick up” even if major crypto assets such asbitcoinorethereumstruggle, he said.\nThat bodes well for Coinbase’s second-quarter report, scheduled for Tuesday afternoon, said Baruch, who owns bitcoin and ethereum.\n“There’s a good trend line support it’s coming off of and it’s broken out of a wedge of resistance,” he said. “I think this thing can go to 290-300 and I think earnings should be positive and the guidance should be good.”\nCoinbase shares ended trading at $258.26 on Friday, up about 1%. They climbed an additional 3.8% to $268 in Monday’s premarket trading session. A run to $290 or $300 would be a 12-16% increase from Friday’s closing levels.","news_type":1,"symbols_score_info":{"COIN":0.9}},"isVote":1,"tweetType":1,"viewCount":3460,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":353489109,"gmtCreate":1616512637101,"gmtModify":1634525406319,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"Rise like Rocket, plunge like Meteor","listText":"Rise like Rocket, plunge like Meteor","text":"Rise like Rocket, plunge like Meteor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/353489109","repostId":"1103677438","repostType":4,"repost":{"id":"1103677438","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1616510536,"share":"https://www.laohu8.com/m/news/1103677438?lang=zh_CN&edition=full","pubTime":"2021-03-23 22:42","market":"us","language":"en","title":"Reddit Stocks are plunged again.<blockquote>Reddit股票再次暴跌。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1103677438","media":"Tiger Newspress","summary":"Reddit Stocks are plunged again on Late Tuesday morning.AMC down 10%,SNDL down 9%,Express down 8%,Ga","content":"<p>Reddit&nbsp;Stocks&nbsp;are&nbsp;plunged&nbsp;again&nbsp;on&nbsp;Late&nbsp;Tuesday&nbsp;morning.AMC&nbsp;down&nbsp;10%,SNDL&nbsp;down&nbsp;9%,Express&nbsp;down&nbsp;8%,GameStop&nbsp;down&nbsp;5%.</p><p><blockquote>周二上午晚些时候，Reddit股票再次暴跌。AMC下跌10%，SNDL下跌9%，Express下跌8%，游戏驿站下跌5%。</blockquote></p><p>GameStop Corp said on Tuesday its chief customer officer Frank Hamlin will resign from the company by March 31.The company, which is expected to report fourth quarter results after the market close on Tuesday.</p><p><blockquote>游戏驿站公司周二表示，其首席客户官Frank Hamlin将于3月31日前从公司辞职。该公司预计将于周二收盘后公布第四季度业绩。</blockquote></p><p><img src=\"https://static.tigerbbs.com/828385a33fef6cc9305f116f7d9d31e0\" tg-width=\"375\" tg-height=\"723\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Reddit Stocks are plunged again.<blockquote>Reddit股票再次暴跌。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nReddit Stocks are plunged again.<blockquote>Reddit股票再次暴跌。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-03-23 22:42</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Reddit&nbsp;Stocks&nbsp;are&nbsp;plunged&nbsp;again&nbsp;on&nbsp;Late&nbsp;Tuesday&nbsp;morning.AMC&nbsp;down&nbsp;10%,SNDL&nbsp;down&nbsp;9%,Express&nbsp;down&nbsp;8%,GameStop&nbsp;down&nbsp;5%.</p><p><blockquote>周二上午晚些时候，Reddit股票再次暴跌。AMC下跌10%，SNDL下跌9%，Express下跌8%，游戏驿站下跌5%。</blockquote></p><p>GameStop Corp said on Tuesday its chief customer officer Frank Hamlin will resign from the company by March 31.The company, which is expected to report fourth quarter results after the market close on Tuesday.</p><p><blockquote>游戏驿站公司周二表示，其首席客户官Frank Hamlin将于3月31日前从公司辞职。该公司预计将于周二收盘后公布第四季度业绩。</blockquote></p><p><img src=\"https://static.tigerbbs.com/828385a33fef6cc9305f116f7d9d31e0\" tg-width=\"375\" tg-height=\"723\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BB":"黑莓","SNDL":"SNDL Inc.","AMC":"AMC院线","EXPR":"Express, Inc.","GME":"游戏驿站"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103677438","content_text":"Reddit Stocks are plunged again on Late Tuesday morning.AMC down 10%,SNDL down 9%,Express down 8%,GameStop down 5%.GameStop Corp said on Tuesday its chief customer officer Frank Hamlin will resign from the company by March 31.The company, which is expected to report fourth quarter results after the market close on Tuesday.","news_type":1,"symbols_score_info":{"BB":0.9,"AMC":0.9,"GME":0.9,"EXPR":0.9,"SNDL":0.9}},"isVote":1,"tweetType":1,"viewCount":745,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":194495093,"gmtCreate":1621390974412,"gmtModify":1634189531825,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"What is this dropping?","listText":"What is this dropping?","text":"What is this dropping?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/194495093","repostId":"2136999458","repostType":4,"isVote":1,"tweetType":1,"viewCount":441,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":113788000,"gmtCreate":1622640898800,"gmtModify":1634099686378,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"Nice article and very informative&nbsp;","listText":"Nice article and very informative&nbsp;","text":"Nice article and very informative","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/113788000","repostId":"1143391139","repostType":2,"repost":{"id":"1143391139","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1622640664,"share":"https://www.laohu8.com/m/news/1143391139?lang=zh_CN&edition=full","pubTime":"2021-06-02 21:31","market":"us","language":"en","title":"Stocks rise slightly as S&P 500 inches toward new record<blockquote>随着标普500逼近新纪录，股市小幅上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1143391139","media":"Tiger Newspress","summary":"The S&P 500 rose slightly on Wednesday, hovering near an all-time high, following its muted start to","content":"<p>The S&amp;P 500 rose slightly on Wednesday, hovering near an all-time high, following its muted start to June.</p><p><blockquote>继6月份开局低迷后，标普500周三小幅上涨，徘徊在历史高点附近。</blockquote></p><p>The S&amp;P 500 rose 0.13% at the open. The Dow Jones Industrial Average added 56 points. The technology-heavy Nasdaq Composite gained just 0.04%.</p><p><blockquote>标普500开盘涨0.13%。道琼斯工业平均指数上涨56点。以科技股为主的纳斯达克综合指数仅上涨0.04%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/3af7c1c6495f573cd02119f3a47ba650\" tg-width=\"1049\" tg-height=\"454\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>AMC shares were surging again, up another 20%. The meme stockwas up 22% on Tuesday&nbsp;after raising $230.5 million through a stock sale.</p><p><blockquote>AMC股价再次飙升，又上涨了20%。在通过股票出售筹集2.305亿美元后，该meme股票周二上涨22%。</blockquote></p><p>Zoom Video&nbsp;shares popped more than 1% following its&nbsp;blowout earnings&nbsp;on Tuesday. Sales grew 191% in the first quarter.</p><p><blockquote>周二公布井喷式盈利后，Zoom Video股价上涨超过1%。第一季度销售额增长191%。</blockquote></p><p>Inflation fears, and the ways in which the Federal Reserve might respond, have weighed on sentiment recently, although the major averages are still hovering around all-time highs.</p><p><blockquote>尽管主要股指仍徘徊在历史高点附近，但通胀担忧以及美联储可能的应对方式最近打压了市场情绪。</blockquote></p><p>\"Inflation expectations have also increased beyond what may be achievable in the near term. Inflation is on the upswing in our view and will eventually surpass the Fed's targets on a sustainable basis,\" Morgan Stanley chief U.S. equity strategist Mike Wilson told clients. \"However, expectations have increased too and now price this rise in many asset markets.\"</p><p><blockquote>摩根士丹利首席美国股票策略师Mike Wilson对客户表示：“通胀预期也有所上升，超出了短期内可能实现的水平。我们认为通胀正在上升，最终将在可持续的基础上超过美联储的目标。”“然而，预期也有所增加，现在许多资产市场都对这种上涨进行了定价。”</blockquote></p><p>June is historically a weak month for stocks, but Instinet points out that the&nbsp;S&amp;P 500&nbsp;has had a better track record recently, gaining every June since 2016.</p><p><blockquote>从历史上看，6月是股市疲软的月份，但Instinet指出，标准普尔500指数最近有更好的记录，自2016年以来每年6月都在上涨。</blockquote></p><p>The S&amp;P 500 and Dow are down 0.8% and 1.5%, respectively, from their May records. The Nasdaq has a little more ground to make up following a rotation out of growth-oriented areas of the market. The tech-heavy index is currently 3.3% from its April all-time high.</p><p><blockquote>标普500指数和道琼斯指数较5月份的纪录分别下跌0.8%和1.5%。在市场增长型领域轮换后，纳斯达克有更多的空间可以弥补。以科技股为主的指数目前较4月份的历史高点上涨了3.3%。</blockquote></p><p>On Tuesday, the Dow gained 47 points, after rising more than 300 points at one point. The S&amp;P broke a 3-day win streak to close down just 2 points. after shooting to within 4 points of its all-time high of 4,238. The Nasdaq Composite was the relative underperformer, shedding 0.09% for its second negative session in three.</p><p><blockquote>周二，道指上涨47点，此前一度上涨超过300点。S&amp;P打破了三日连涨，收盘仅下跌2点。在距离4238分的历史高点不到4分后。纳斯达克综合指数表现相对不佳，下跌0.09%，连续三个交易日第二次下跌。</blockquote></p><p>Despite the muted action, there were some gainers during the session, notably in stocks connected to the economic recovery. Airline and cruise operator companies saw their stocks jump as Covid cases in the U.S. continue to decline.</p><p><blockquote>尽管行动温和，但盘中仍有一些上涨者，尤其是与经济复苏相关的股票。随着美国新冠病例持续下降，航空公司和邮轮运营商的股价上涨。</blockquote></p><p>Markets may be on hold before the big jobs report on Friday. The U.S. likely added 671,000 non-farm payrolls in May, up from 266,000 jobs added in the previous month, according to economists polled by Dow Jones.</p><p><blockquote>在周五公布重要就业报告之前，市场可能会暂停。根据道琼斯调查的经济学家，美国5月份非农就业人数可能增加671,000人，高于上个月增加的266,000人。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks rise slightly as S&P 500 inches toward new record<blockquote>随着标普500逼近新纪录，股市小幅上涨</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks rise slightly as S&P 500 inches toward new record<blockquote>随着标普500逼近新纪录，股市小幅上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-06-02 21:31</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The S&amp;P 500 rose slightly on Wednesday, hovering near an all-time high, following its muted start to June.</p><p><blockquote>继6月份开局低迷后，标普500周三小幅上涨，徘徊在历史高点附近。</blockquote></p><p>The S&amp;P 500 rose 0.13% at the open. The Dow Jones Industrial Average added 56 points. The technology-heavy Nasdaq Composite gained just 0.04%.</p><p><blockquote>标普500开盘涨0.13%。道琼斯工业平均指数上涨56点。以科技股为主的纳斯达克综合指数仅上涨0.04%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/3af7c1c6495f573cd02119f3a47ba650\" tg-width=\"1049\" tg-height=\"454\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>AMC shares were surging again, up another 20%. The meme stockwas up 22% on Tuesday&nbsp;after raising $230.5 million through a stock sale.</p><p><blockquote>AMC股价再次飙升，又上涨了20%。在通过股票出售筹集2.305亿美元后，该meme股票周二上涨22%。</blockquote></p><p>Zoom Video&nbsp;shares popped more than 1% following its&nbsp;blowout earnings&nbsp;on Tuesday. Sales grew 191% in the first quarter.</p><p><blockquote>周二公布井喷式盈利后，Zoom Video股价上涨超过1%。第一季度销售额增长191%。</blockquote></p><p>Inflation fears, and the ways in which the Federal Reserve might respond, have weighed on sentiment recently, although the major averages are still hovering around all-time highs.</p><p><blockquote>尽管主要股指仍徘徊在历史高点附近，但通胀担忧以及美联储可能的应对方式最近打压了市场情绪。</blockquote></p><p>\"Inflation expectations have also increased beyond what may be achievable in the near term. Inflation is on the upswing in our view and will eventually surpass the Fed's targets on a sustainable basis,\" Morgan Stanley chief U.S. equity strategist Mike Wilson told clients. \"However, expectations have increased too and now price this rise in many asset markets.\"</p><p><blockquote>摩根士丹利首席美国股票策略师Mike Wilson对客户表示：“通胀预期也有所上升，超出了短期内可能实现的水平。我们认为通胀正在上升，最终将在可持续的基础上超过美联储的目标。”“然而，预期也有所增加，现在许多资产市场都对这种上涨进行了定价。”</blockquote></p><p>June is historically a weak month for stocks, but Instinet points out that the&nbsp;S&amp;P 500&nbsp;has had a better track record recently, gaining every June since 2016.</p><p><blockquote>从历史上看，6月是股市疲软的月份，但Instinet指出，标准普尔500指数最近有更好的记录，自2016年以来每年6月都在上涨。</blockquote></p><p>The S&amp;P 500 and Dow are down 0.8% and 1.5%, respectively, from their May records. The Nasdaq has a little more ground to make up following a rotation out of growth-oriented areas of the market. The tech-heavy index is currently 3.3% from its April all-time high.</p><p><blockquote>标普500指数和道琼斯指数较5月份的纪录分别下跌0.8%和1.5%。在市场增长型领域轮换后，纳斯达克有更多的空间可以弥补。以科技股为主的指数目前较4月份的历史高点上涨了3.3%。</blockquote></p><p>On Tuesday, the Dow gained 47 points, after rising more than 300 points at one point. The S&amp;P broke a 3-day win streak to close down just 2 points. after shooting to within 4 points of its all-time high of 4,238. The Nasdaq Composite was the relative underperformer, shedding 0.09% for its second negative session in three.</p><p><blockquote>周二，道指上涨47点，此前一度上涨超过300点。S&amp;P打破了三日连涨，收盘仅下跌2点。在距离4238分的历史高点不到4分后。纳斯达克综合指数表现相对不佳，下跌0.09%，连续三个交易日第二次下跌。</blockquote></p><p>Despite the muted action, there were some gainers during the session, notably in stocks connected to the economic recovery. Airline and cruise operator companies saw their stocks jump as Covid cases in the U.S. continue to decline.</p><p><blockquote>尽管行动温和，但盘中仍有一些上涨者，尤其是与经济复苏相关的股票。随着美国新冠病例持续下降，航空公司和邮轮运营商的股价上涨。</blockquote></p><p>Markets may be on hold before the big jobs report on Friday. The U.S. likely added 671,000 non-farm payrolls in May, up from 266,000 jobs added in the previous month, according to economists polled by Dow Jones.</p><p><blockquote>在周五公布重要就业报告之前，市场可能会暂停。根据道琼斯调查的经济学家，美国5月份非农就业人数可能增加671,000人，高于上个月增加的266,000人。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯","ZM":"Zoom","AMC":"AMC院线",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143391139","content_text":"The S&P 500 rose slightly on Wednesday, hovering near an all-time high, following its muted start to June.The S&P 500 rose 0.13% at the open. The Dow Jones Industrial Average added 56 points. The technology-heavy Nasdaq Composite gained just 0.04%.AMC shares were surging again, up another 20%. The meme stockwas up 22% on Tuesday after raising $230.5 million through a stock sale.Zoom Video shares popped more than 1% following its blowout earnings on Tuesday. Sales grew 191% in the first quarter.Inflation fears, and the ways in which the Federal Reserve might respond, have weighed on sentiment recently, although the major averages are still hovering around all-time highs.\"Inflation expectations have also increased beyond what may be achievable in the near term. Inflation is on the upswing in our view and will eventually surpass the Fed's targets on a sustainable basis,\" Morgan Stanley chief U.S. equity strategist Mike Wilson told clients. \"However, expectations have increased too and now price this rise in many asset markets.\"June is historically a weak month for stocks, but Instinet points out that the S&P 500 has had a better track record recently, gaining every June since 2016.The S&P 500 and Dow are down 0.8% and 1.5%, respectively, from their May records. The Nasdaq has a little more ground to make up following a rotation out of growth-oriented areas of the market. The tech-heavy index is currently 3.3% from its April all-time high.On Tuesday, the Dow gained 47 points, after rising more than 300 points at one point. The S&P broke a 3-day win streak to close down just 2 points. after shooting to within 4 points of its all-time high of 4,238. The Nasdaq Composite was the relative underperformer, shedding 0.09% for its second negative session in three.Despite the muted action, there were some gainers during the session, notably in stocks connected to the economic recovery. Airline and cruise operator companies saw their stocks jump as Covid cases in the U.S. continue to decline.Markets may be on hold before the big jobs report on Friday. The U.S. likely added 671,000 non-farm payrolls in May, up from 266,000 jobs added in the previous month, according to economists polled by Dow Jones.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"AMC":0.9,"ZM":0.9}},"isVote":1,"tweetType":1,"viewCount":1006,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":198401289,"gmtCreate":1620976491341,"gmtModify":1634194822669,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"Self supply battery is a good move, can lower the cost of the car.&nbsp;","listText":"Self supply battery is a good move, can lower the cost of the car.&nbsp;","text":"Self supply battery is a good move, can lower the cost of the car.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/198401289","repostId":"2135767417","repostType":4,"isVote":1,"tweetType":1,"viewCount":349,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":122599530,"gmtCreate":1624626709420,"gmtModify":1633950379642,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"Good result. Continue to grow and create new high!👍","listText":"Good result. Continue to grow and create new high!👍","text":"Good result. Continue to grow and create new high!👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/122599530","repostId":"2146023165","repostType":4,"isVote":1,"tweetType":1,"viewCount":4202,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126096720,"gmtCreate":1624536212460,"gmtModify":1634004755985,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"To grow even bigger.&nbsp;","listText":"To grow even bigger.&nbsp;","text":"To grow even bigger.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/126096720","repostId":"1138132786","repostType":4,"isVote":1,"tweetType":1,"viewCount":2020,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":139603590,"gmtCreate":1621609858110,"gmtModify":1634187653598,"author":{"id":"3559298661152538","authorId":"3559298661152538","name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559298661152538","idStr":"3559298661152538"},"themes":[],"htmlText":"Very detailed and nice thesis. Thanks for the sharing! awesome&nbsp;👍","listText":"Very detailed and nice thesis. Thanks for the sharing! awesome&nbsp;👍","text":"Very detailed and nice thesis. Thanks for the sharing! awesome 👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/139603590","repostId":"1170860218","repostType":2,"isVote":1,"tweetType":1,"viewCount":471,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}