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Whyandwhynot

Whyandwhynot

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2021-07-22

Like and comment please

Why Nvidia Stock Jumped Wednesday<blockquote>为什么英伟达股价周三上涨</blockquote>

2021-07-02

Hmm

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2021-06-30

Wow!

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2021-06-18

A good read on NIO

NIO Is Winning<blockquote>蔚来正在获胜</blockquote>

2021-06-18

Anyone has any insights on the 3 stocks?

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2021-06-13

Hmm

Snowflake Is a Growth Juggernaut. Wall Street Is Thinking About Stock Value.<blockquote>雪花是一个增长巨人。华尔街正在考虑股票价值。</blockquote>

2021-06-07

If it’s true the impact would be short term

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2021-06-02

Hmm it says slow down….

Zoom reports blowout earnings but warns of a coming slowdown<blockquote>Zoom报告盈利井喷，但警告即将放缓</blockquote>

2021-06-02

Growing strong

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2021-06-02

Interesting read

抱歉，原内容已删除

2021-05-26

Insightful read

抱歉，原内容已删除

2021-05-18

Interesting perspective….

抱歉，原内容已删除

2021-05-18

Wow!

JD Logistics launches Hong Kong IPO to raise up to US$3.4 billion<blockquote>京东物流启动香港IPO募资至多34亿美元</blockquote>

2021-05-14

Hmm…

What Disney, Airbnb and DoorDash results reveal about the post-pandemic economy<blockquote>迪士尼、爱彼迎和DoorDash的业绩揭示了大流行后经济的哪些信息</blockquote>

2021-05-14

The celebrity CEO with a cannon mouth…. Hahaha

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2021-05-14

Sad news....

抱歉，原内容已删除

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and comment please&nbsp;","listText":"Like and comment please&nbsp;","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/172668305","repostId":"1149385054","repostType":4,"repost":{"id":"1149385054","kind":"news","pubTimestamp":1626945470,"share":"https://www.laohu8.com/m/news/1149385054?lang=zh_CN&edition=full","pubTime":"2021-07-22 17:17","market":"us","language":"en","title":"Why Nvidia Stock Jumped Wednesday<blockquote>为什么英伟达股价周三上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1149385054","media":"Motley Fool","summary":"After a short pullback following Nvidia's recent stock split, investors went right back to bidding u","content":"<p>  After a short pullback following Nvidia's recent stock split, investors went right back to bidding up the tech titan's shares.  <b>What happened</b></p><p><blockquote>在英伟达最近的股票分割后短暂回调后，投资者立即重新抬高这家科技巨头的股价。<b>发生了什么</b></blockquote></p><p> <b><a href=\"https://laohu8.com/S/NVDA\">NVIDIA Corp</a></b> climbed 4.3% on Wednesday, following its 4-for-1 stock split on Tuesday.</p><p><blockquote><b><a href=\"https://laohu8.com/S/NVDA\">英伟达公司</a></b>继周二进行4比1的股票分割后，周三上涨4.3%。</blockquote></p><p> <b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p> Stock splitsdon't change the fundamental value of a business. A 4-for-1 split is in many ways like exchanging a $1 bill for four quarters. The total value is the same; it's just divided into more pieces.</p><p><blockquote>股票分割不会改变企业的基本价值。4比1的分割在很多方面就像用一张1美元的钞票兑换四个季度。总值相同；只是被分成了更多的碎片。</blockquote></p><p> Nevertheless, traders do tend to get excited about stock splits, and this can positively impact a stock's price leading up to the split. After the split occurs, however, traders often take the opportunity to book short-term profits. And many investors, who are now in possession of more shares, use it as a chance to sell part of their holdings and book some long-term profits.</p><p><blockquote>尽管如此，交易者确实倾向于对股票分割感到兴奋，这可能会对股票分割前的价格产生积极影响。然而，在分割发生后，交易者通常会趁机获利。许多现在持有更多股票的投资者利用这一机会出售部分持股并获得一些长期利润。</blockquote></p><p> These short-term price dynamics appeared to impact Nvidia's stock in recent weeks. Its share price rose 25% from when it announced its stock split on May 21 until July 19. And after the split took place on July 20, Nvidia's shares fell as much as 3.5% before ending the day down about 1%.</p><p><blockquote>最近几周，这些短期价格动态似乎影响了英伟达的股票。从5月21日宣布股票分割到7月19日，其股价上涨了25%。7月20日分拆后，英伟达股价一度下跌3.5%，最终下跌约1%。</blockquote></p><p> <b>Now what</b></p><p><blockquote><b>现在怎么办</b></blockquote></p><p> Now that the split has occurred, investors appear to be focusing on Nvidia's fundamental growth drivers once again. And in this regard, Nvidia's future appears bright. Rising demand for its chips in booming markets, such as data centers and gaming, are driving sharp increases in revenue and profits. With this likely to remain the case for the foreseeable future, Wednesday's gains could be just part of a far larger upward move for Nvidia's share price in the coming years.</p><p><blockquote>既然分拆已经发生，投资者似乎再次关注英伟达的基本增长动力。而在这方面，英伟达的未来显得一片光明。数据中心和游戏等蓬勃发展的市场对其芯片的需求不断增长，推动了收入和利润的大幅增长。在可预见的未来，这种情况可能会持续下去，周三的上涨可能只是英伟达股价未来几年更大上涨的一部分。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Nvidia Stock Jumped Wednesday<blockquote>为什么英伟达股价周三上涨</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\">\nWhy Nvidia Stock Jumped Wednesday<blockquote>为什么英伟达股价周三上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-07-22 17:17</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  After a short pullback following Nvidia's recent stock split, investors went right back to bidding up the tech titan's shares.  <b>What happened</b></p><p><blockquote>在英伟达最近的股票分割后短暂回调后，投资者立即重新抬高这家科技巨头的股价。<b>发生了什么</b></blockquote></p><p> <b><a href=\"https://laohu8.com/S/NVDA\">NVIDIA Corp</a></b> climbed 4.3% on Wednesday, following its 4-for-1 stock split on Tuesday.</p><p><blockquote><b><a href=\"https://laohu8.com/S/NVDA\">英伟达公司</a></b>继周二进行4比1的股票分割后，周三上涨4.3%。</blockquote></p><p> <b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p> Stock splitsdon't change the fundamental value of a business. A 4-for-1 split is in many ways like exchanging a $1 bill for four quarters. The total value is the same; it's just divided into more pieces.</p><p><blockquote>股票分割不会改变企业的基本价值。4比1的分割在很多方面就像用一张1美元的钞票兑换四个季度。总值相同；只是被分成了更多的碎片。</blockquote></p><p> Nevertheless, traders do tend to get excited about stock splits, and this can positively impact a stock's price leading up to the split. After the split occurs, however, traders often take the opportunity to book short-term profits. And many investors, who are now in possession of more shares, use it as a chance to sell part of their holdings and book some long-term profits.</p><p><blockquote>尽管如此，交易者确实倾向于对股票分割感到兴奋，这可能会对股票分割前的价格产生积极影响。然而，在分割发生后，交易者通常会趁机获利。许多现在持有更多股票的投资者利用这一机会出售部分持股并获得一些长期利润。</blockquote></p><p> These short-term price dynamics appeared to impact Nvidia's stock in recent weeks. Its share price rose 25% from when it announced its stock split on May 21 until July 19. And after the split took place on July 20, Nvidia's shares fell as much as 3.5% before ending the day down about 1%.</p><p><blockquote>最近几周，这些短期价格动态似乎影响了英伟达的股票。从5月21日宣布股票分割到7月19日，其股价上涨了25%。7月20日分拆后，英伟达股价一度下跌3.5%，最终下跌约1%。</blockquote></p><p> <b>Now what</b></p><p><blockquote><b>现在怎么办</b></blockquote></p><p> Now that the split has occurred, investors appear to be focusing on Nvidia's fundamental growth drivers once again. And in this regard, Nvidia's future appears bright. Rising demand for its chips in booming markets, such as data centers and gaming, are driving sharp increases in revenue and profits. With this likely to remain the case for the foreseeable future, Wednesday's gains could be just part of a far larger upward move for Nvidia's share price in the coming years.</p><p><blockquote>既然分拆已经发生，投资者似乎再次关注英伟达的基本增长动力。而在这方面，英伟达的未来显得一片光明。数据中心和游戏等蓬勃发展的市场对其芯片的需求不断增长，推动了收入和利润的大幅增长。在可预见的未来，这种情况可能会持续下去，周三的上涨可能只是英伟达股价未来几年更大上涨的一部分。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/07/21/why-nvidia-stock-jumped-today/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://www.fool.com/investing/2021/07/21/why-nvidia-stock-jumped-today/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1149385054","content_text":"After a short pullback following Nvidia's recent stock split, investors went right back to bidding up the tech titan's shares.\n\nWhat happened\nNVIDIA Corp climbed 4.3% on Wednesday, following its 4-for-1 stock split on Tuesday.\nSo what\nStock splitsdon't change the fundamental value of a business. A 4-for-1 split is in many ways like exchanging a $1 bill for four quarters. The total value is the same; it's just divided into more pieces.\nNevertheless, traders do tend to get excited about stock splits, and this can positively impact a stock's price leading up to the split. After the split occurs, however, traders often take the opportunity to book short-term profits. And many investors, who are now in possession of more shares, use it as a chance to sell part of their holdings and book some long-term profits.\nThese short-term price dynamics appeared to impact Nvidia's stock in recent weeks. Its share price rose 25% from when it announced its stock split on May 21 until July 19. And after the split took place on July 20, Nvidia's shares fell as much as 3.5% before ending the day down about 1%.\nNow what\nNow that the split has occurred, investors appear to be focusing on Nvidia's fundamental growth drivers once again. And in this regard, Nvidia's future appears bright. Rising demand for its chips in booming markets, such as data centers and gaming, are driving sharp increases in revenue and profits. With this likely to remain the case for the foreseeable future, Wednesday's gains could be just part of a far larger upward move for Nvidia's share price in the coming years.","news_type":1,"symbols_score_info":{"NVDA":0.9}},"isVote":1,"tweetType":1,"viewCount":1417,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":158562252,"gmtCreate":1625156901776,"gmtModify":1633943029779,"author":{"id":"3565951516983876","authorId":"3565951516983876","name":"Whyandwhynot","avatar":"https://static.tigerbbs.com/1c1b86e70178e57c45cdafdbcce886c6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565951516983876","idStr":"3565951516983876"},"themes":[],"htmlText":"Hmm&nbsp;","listText":"Hmm&nbsp;","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/158562252","repostId":"2148825910","repostType":4,"isVote":1,"tweetType":1,"viewCount":2669,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":153001696,"gmtCreate":1624982972215,"gmtModify":1633946164449,"author":{"id":"3565951516983876","authorId":"3565951516983876","name":"Whyandwhynot","avatar":"https://static.tigerbbs.com/1c1b86e70178e57c45cdafdbcce886c6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565951516983876","idStr":"3565951516983876"},"themes":[],"htmlText":"Wow!&nbsp;","listText":"Wow!&nbsp;","text":"Wow!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/153001696","repostId":"2147343850","repostType":4,"isVote":1,"tweetType":1,"viewCount":1490,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166486959,"gmtCreate":1624022683471,"gmtModify":1634023992014,"author":{"id":"3565951516983876","authorId":"3565951516983876","name":"Whyandwhynot","avatar":"https://static.tigerbbs.com/1c1b86e70178e57c45cdafdbcce886c6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565951516983876","idStr":"3565951516983876"},"themes":[],"htmlText":"A good read on NIO","listText":"A good read on NIO","text":"A good read on NIO","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166486959","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":1823,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166480203,"gmtCreate":1624022517202,"gmtModify":1634023995619,"author":{"id":"3565951516983876","authorId":"3565951516983876","name":"Whyandwhynot","avatar":"https://static.tigerbbs.com/1c1b86e70178e57c45cdafdbcce886c6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565951516983876","idStr":"3565951516983876"},"themes":[],"htmlText":"Anyone has any insights on the 3 stocks?&nbsp;","listText":"Anyone has any insights on the 3 stocks?&nbsp;","text":"Anyone has any insights on the 3 stocks?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166480203","repostId":"2144946726","repostType":4,"isVote":1,"tweetType":1,"viewCount":1735,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":182418327,"gmtCreate":1623597258169,"gmtModify":1634031308244,"author":{"id":"3565951516983876","authorId":"3565951516983876","name":"Whyandwhynot","avatar":"https://static.tigerbbs.com/1c1b86e70178e57c45cdafdbcce886c6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565951516983876","idStr":"3565951516983876"},"themes":[],"htmlText":"Hmm&nbsp;","listText":"Hmm&nbsp;","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/182418327","repostId":"1189143522","repostType":4,"repost":{"id":"1189143522","kind":"news","pubTimestamp":1623513679,"share":"https://www.laohu8.com/m/news/1189143522?lang=zh_CN&edition=full","pubTime":"2021-06-13 00:01","market":"us","language":"en","title":"Snowflake Is a Growth Juggernaut. Wall Street Is Thinking About Stock Value.<blockquote>雪花是一个增长巨人。华尔街正在考虑股票价值。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1189143522","media":"Barron's","summary":"Snowflake remains one of the best growth stories in the history of the software business, and that h","content":"<p>Snowflake remains one of the best growth stories in the history of the software business, and that has Wall Street talking about the stock’s valuation.</p><p><blockquote>Snowflake仍然是软件行业历史上最好的增长故事之一，这让华尔街开始谈论该股的估值。</blockquote></p><p> In meeting with analysts on Thursday,the cloud-data software company provided an ambitious goalof reaching $10 billion in product revenue in the January 2029 fiscal year. That compares to $554 million forthe January 2021 fiscal year.</p><p><blockquote>在周四与分析师会面时，这家云数据软件公司提出了一个雄心勃勃的目标，即在2029年1月财年实现产品收入100亿美元。相比之下，2021年1月财年的收入为5.54亿美元。</blockquote></p><p> Snowflake (ticker: SNOW) should still be growing 30% at the top-line at that point, according to chief financial officer Mike Scarpelli, while generating 10% operating margins and free cash flow margins of 15% or better. He also said the company now sees a total addressable market of $90 billion, an expansion of more than 10% from the $81 billion estimated market size cited during its IPO roadshow in 2020.</p><p><blockquote>Snowflake（股票代码：SNOW）首席财务官Mike Scarpelli表示，届时营收仍应增长30%，同时产生10%的营业利润率和15%或更高的自由现金流利润率。他还表示，该公司目前预计潜在市场总额为900亿美元，比2020年IPO路演期间估计的810亿美元市场规模增长了10%以上。</blockquote></p><p> The long-term growth goals help frame the huge opportunity that Snowflake has ahead, but did nothing to change the fundamental debate about the stock: Does the impressive growth rate—120% in product revenue in the latest year— justify the massive valuation? In afternoon trading Friday, shares were off 4.4%, to $237.84.</p><p><blockquote>长期增长目标有助于构建Snowflake未来的巨大机遇，但并没有改变有关该股的根本争论：令人印象深刻的增长率（最近一年产品收入120%）是否证明了巨大的估值是合理的？周五下午交易中，股价下跌4.4%，至237.84美元。</blockquote></p><p> Canaccord Genuity analyst David Hynes notes that if Snowflake hits its $10 billion target, it would be the fastest that a software company has reached that size. Hynes adds that the history of the management team, led by CEO Frank Slootman, suggests Snowflake could reach its target early.</p><p><blockquote>Canaccord Genuity分析师David Hynes指出，如果Snowflake达到100亿美元的目标，这将是软件公司达到这一规模的最快速度。Hynes补充说，由首席执行官Frank Slootman领导的管理团队的历史表明Snowflake可能会提前实现其目标。</blockquote></p><p> But Hynes nonetheless is sticking with his Hold rating and $240 target price. “There’s no doubt that this is an exceptional business, but in our view, the stock’s current valuation”—about 47 times estimated calendar 2022 revenues—“fully reflects it.” He adds that as estimates move higher and the stock grinds sideways, he’s “getting closer to an upgrade,” but isn’t there yet. “We’re content to wait for more of the excess to burn off.”</p><p><blockquote>但海因斯仍然坚持持有评级和240美元的目标价。“毫无疑问，这是一项特殊的业务，但在我们看来，该股目前的估值”——约为2022年预计收入的47倍——“充分反映了这一点”。他补充说，随着预期上升和股价横盘整理，他“越来越接近升级”，但还没有达到。“我们满足于等待更多多余的东西被烧掉。”</blockquote></p><p> Likewise, Morgan Stanley analyst Keith Weiss writes in a research note that given the 120% product growth in fiscal 2021, the $10 billion target might be conservative. He adds that “the harder part of the equation may be justifying the valuation based on these targets.” Weiss says the model that Snowflake laid out implies $1.6 billion in free cash flow in fiscal 2029, which values the stock at 51 times free cash flow 8 years out. “While very impressed by the market opportunity …and Snowflake’s opportunity,” he says valuation keeps him on the sidelines. Weiss repeats his Equal Weigh rating and $270 price target.</p><p><blockquote>同样，摩根士丹利分析师Keith Weiss在一份研究报告中写道，鉴于2021财年120%的产品增长，100亿美元的目标可能是保守的。他补充说，“等式中更困难的部分可能是证明基于这些目标的估值的合理性。”Weiss表示，Snowflake制定的模型意味着2029财年的自由现金流为16亿美元，这意味着该股8年后自由现金流的估值为51倍。“虽然对市场机会……以及雪花的机会印象深刻，”他表示，估值让他保持观望。Weiss重申了同等权重评级和270美元的目标价。</blockquote></p><p></p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Snowflake Is a Growth Juggernaut. Wall Street Is Thinking About Stock Value.<blockquote>雪花是一个增长巨人。华尔街正在考虑股票价值。</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\">\nSnowflake Is a Growth Juggernaut. Wall Street Is Thinking About Stock Value.<blockquote>雪花是一个增长巨人。华尔街正在考虑股票价值。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-06-13 00:01</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Snowflake remains one of the best growth stories in the history of the software business, and that has Wall Street talking about the stock’s valuation.</p><p><blockquote>Snowflake仍然是软件行业历史上最好的增长故事之一，这让华尔街开始谈论该股的估值。</blockquote></p><p> In meeting with analysts on Thursday,the cloud-data software company provided an ambitious goalof reaching $10 billion in product revenue in the January 2029 fiscal year. That compares to $554 million forthe January 2021 fiscal year.</p><p><blockquote>在周四与分析师会面时，这家云数据软件公司提出了一个雄心勃勃的目标，即在2029年1月财年实现产品收入100亿美元。相比之下，2021年1月财年的收入为5.54亿美元。</blockquote></p><p> Snowflake (ticker: SNOW) should still be growing 30% at the top-line at that point, according to chief financial officer Mike Scarpelli, while generating 10% operating margins and free cash flow margins of 15% or better. He also said the company now sees a total addressable market of $90 billion, an expansion of more than 10% from the $81 billion estimated market size cited during its IPO roadshow in 2020.</p><p><blockquote>Snowflake（股票代码：SNOW）首席财务官Mike Scarpelli表示，届时营收仍应增长30%，同时产生10%的营业利润率和15%或更高的自由现金流利润率。他还表示，该公司目前预计潜在市场总额为900亿美元，比2020年IPO路演期间估计的810亿美元市场规模增长了10%以上。</blockquote></p><p> The long-term growth goals help frame the huge opportunity that Snowflake has ahead, but did nothing to change the fundamental debate about the stock: Does the impressive growth rate—120% in product revenue in the latest year— justify the massive valuation? In afternoon trading Friday, shares were off 4.4%, to $237.84.</p><p><blockquote>长期增长目标有助于构建Snowflake未来的巨大机遇，但并没有改变有关该股的根本争论：令人印象深刻的增长率（最近一年产品收入120%）是否证明了巨大的估值是合理的？周五下午交易中，股价下跌4.4%，至237.84美元。</blockquote></p><p> Canaccord Genuity analyst David Hynes notes that if Snowflake hits its $10 billion target, it would be the fastest that a software company has reached that size. Hynes adds that the history of the management team, led by CEO Frank Slootman, suggests Snowflake could reach its target early.</p><p><blockquote>Canaccord Genuity分析师David Hynes指出，如果Snowflake达到100亿美元的目标，这将是软件公司达到这一规模的最快速度。Hynes补充说，由首席执行官Frank Slootman领导的管理团队的历史表明Snowflake可能会提前实现其目标。</blockquote></p><p> But Hynes nonetheless is sticking with his Hold rating and $240 target price. “There’s no doubt that this is an exceptional business, but in our view, the stock’s current valuation”—about 47 times estimated calendar 2022 revenues—“fully reflects it.” He adds that as estimates move higher and the stock grinds sideways, he’s “getting closer to an upgrade,” but isn’t there yet. “We’re content to wait for more of the excess to burn off.”</p><p><blockquote>但海因斯仍然坚持持有评级和240美元的目标价。“毫无疑问，这是一项特殊的业务，但在我们看来，该股目前的估值”——约为2022年预计收入的47倍——“充分反映了这一点”。他补充说，随着预期上升和股价横盘整理，他“越来越接近升级”，但还没有达到。“我们满足于等待更多多余的东西被烧掉。”</blockquote></p><p> Likewise, Morgan Stanley analyst Keith Weiss writes in a research note that given the 120% product growth in fiscal 2021, the $10 billion target might be conservative. He adds that “the harder part of the equation may be justifying the valuation based on these targets.” Weiss says the model that Snowflake laid out implies $1.6 billion in free cash flow in fiscal 2029, which values the stock at 51 times free cash flow 8 years out. “While very impressed by the market opportunity …and Snowflake’s opportunity,” he says valuation keeps him on the sidelines. Weiss repeats his Equal Weigh rating and $270 price target.</p><p><blockquote>同样，摩根士丹利分析师Keith Weiss在一份研究报告中写道，鉴于2021财年120%的产品增长，100亿美元的目标可能是保守的。他补充说，“等式中更困难的部分可能是证明基于这些目标的估值的合理性。”Weiss表示，Snowflake制定的模型意味着2029财年的自由现金流为16亿美元，这意味着该股8年后自由现金流的估值为51倍。“虽然对市场机会……以及雪花的机会印象深刻，”他表示，估值让他保持观望。Weiss重申了同等权重评级和270美元的目标价。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/snowflake-is-a-growth-juggernaut-wall-street-is-thinking-about-stock-value-51623432689?siteid=yhoof2\">Barron's</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SNOW":"Snowflake"},"source_url":"https://www.barrons.com/articles/snowflake-is-a-growth-juggernaut-wall-street-is-thinking-about-stock-value-51623432689?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1189143522","content_text":"Snowflake remains one of the best growth stories in the history of the software business, and that has Wall Street talking about the stock’s valuation.\nIn meeting with analysts on Thursday,the cloud-data software company provided an ambitious goalof reaching $10 billion in product revenue in the January 2029 fiscal year. That compares to $554 million forthe January 2021 fiscal year.\nSnowflake (ticker: SNOW) should still be growing 30% at the top-line at that point, according to chief financial officer Mike Scarpelli, while generating 10% operating margins and free cash flow margins of 15% or better. He also said the company now sees a total addressable market of $90 billion, an expansion of more than 10% from the $81 billion estimated market size cited during its IPO roadshow in 2020.\nThe long-term growth goals help frame the huge opportunity that Snowflake has ahead, but did nothing to change the fundamental debate about the stock: Does the impressive growth rate—120% in product revenue in the latest year— justify the massive valuation? In afternoon trading Friday, shares were off 4.4%, to $237.84.\nCanaccord Genuity analyst David Hynes notes that if Snowflake hits its $10 billion target, it would be the fastest that a software company has reached that size. Hynes adds that the history of the management team, led by CEO Frank Slootman, suggests Snowflake could reach its target early.\nBut Hynes nonetheless is sticking with his Hold rating and $240 target price. “There’s no doubt that this is an exceptional business, but in our view, the stock’s current valuation”—about 47 times estimated calendar 2022 revenues—“fully reflects it.” He adds that as estimates move higher and the stock grinds sideways, he’s “getting closer to an upgrade,” but isn’t there yet. “We’re content to wait for more of the excess to burn off.”\nLikewise, Morgan Stanley analyst Keith Weiss writes in a research note that given the 120% product growth in fiscal 2021, the $10 billion target might be conservative. He adds that “the harder part of the equation may be justifying the valuation based on these targets.” Weiss says the model that Snowflake laid out implies $1.6 billion in free cash flow in fiscal 2029, which values the stock at 51 times free cash flow 8 years out. “While very impressed by the market opportunity …and Snowflake’s opportunity,” he says valuation keeps him on the sidelines. Weiss repeats his Equal Weigh rating and $270 price target.","news_type":1,"symbols_score_info":{"SNOW":0.9}},"isVote":1,"tweetType":1,"viewCount":1418,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":114632638,"gmtCreate":1623071678724,"gmtModify":1634037296898,"author":{"id":"3565951516983876","authorId":"3565951516983876","name":"Whyandwhynot","avatar":"https://static.tigerbbs.com/1c1b86e70178e57c45cdafdbcce886c6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565951516983876","idStr":"3565951516983876"},"themes":[],"htmlText":"If it’s true the impact would be short term&nbsp;","listText":"If it’s true the impact would be short term&nbsp;","text":"If it’s true the impact would be short term","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/114632638","repostId":"1122556332","repostType":4,"isVote":1,"tweetType":1,"viewCount":1549,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":111989976,"gmtCreate":1622648881595,"gmtModify":1634099566277,"author":{"id":"3565951516983876","authorId":"3565951516983876","name":"Whyandwhynot","avatar":"https://static.tigerbbs.com/1c1b86e70178e57c45cdafdbcce886c6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565951516983876","idStr":"3565951516983876"},"themes":[],"htmlText":"Hmm it says slow down….","listText":"Hmm it says slow down….","text":"Hmm it says slow down….","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/111989976","repostId":"1184181912","repostType":4,"repost":{"id":"1184181912","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":1622589761,"share":"https://www.laohu8.com/m/news/1184181912?lang=zh_CN&edition=full","pubTime":"2021-06-02 07:22","market":"hk","language":"en","title":"Zoom reports blowout earnings but warns of a coming slowdown<blockquote>Zoom报告盈利井喷，但警告即将放缓</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1184181912","media":"Tiger Newspress","summary":"Zoomreported better-than-expected first-quarter results Tuesday, with sales growth of 191%. The shar","content":"<p>Zoomreported better-than-expected first-quarter results Tuesday, with sales growth of 191%. The shares rose 4% in extended trading after initially falling as much as 5% as the company showed signs of a looming slowdown.<img src=\"https://static.tigerbbs.com/b1b99facf2971e24b0cf0b93e9021c5a\" tg-width=\"692\" tg-height=\"527\">Here’s how the company did:</p><p><blockquote>Zoom周二公布的第一季度业绩好于预期，销售额增长191%。由于该公司显示出即将放缓的迹象，该股最初下跌5%，随后在盘后交易中上涨4%。该公司的做法如下：</blockquote></p><p> <ul>  <li><b>Earnings:</b>$1.32 per share, adjusted, vs. 99 cents per share as expected by analysts, according to Refinitiv.</li>  <li><b>Revenue:</b>$956.2 million, vs. $906.0 million as expected by analysts, according to Refinitiv.</li> </ul> Revenue in the quarter, which ended on April 30, jumped from $328.2 million a year earlier, according to astatement. In the previous quarter revenuerose 369%as <a href=\"https://laohu8.com/S/ZM\">Zoom</a> lapped the onset of the coronavirus pandemic in the U.S., which brought inmillions of new users.<img src=\"https://static.tigerbbs.com/402d4ca1cb0a713d00d91053cedc620f\" tg-width=\"890\" tg-height=\"445\">The company’s gross margin widened to 73.9% from 69.4% in the previous quarter, primarily because of optimization of public-cloud resources, the company said. Zoom said its Zoom Phone product, including cloud-based phone services along with video calls and other capabilities, had 1.5 million seats at the end of April, up from1 millionin January.</p><p><blockquote><ul><li><b>收益：</b>根据Refinitiv的数据，调整后每股1.32美元，而分析师预期为每股99美分。</li><li><b>收入：</b>根据Refinitiv的数据，为9.562亿美元，而分析师预期为9.06亿美元。</li></ul>根据一份声明，截至4月30日的季度收入较去年同期的3.282亿美元跃升。上一季度收入增长369%<a href=\"https://laohu8.com/S/ZM\">Zoom</a>冠状病毒疫情在美国爆发，带来了数百万新用户。该公司表示，该公司的毛利率从上一季度的69.4%扩大至73.9%，这主要是由于公有云资源的优化。Zoom表示，其Zoom Phone产品包括基于云的电话服务以及视频评级和其他功能，截至4月底拥有150万个座位，高于1月份的100万个。</blockquote></p><p> Zoom said it expects $1.14 to $1.15 in adjusted earnings per share on $985 million to $990 million in revenue in the fiscal second quarter. Analysts polled by Refinitiv had expected adjusted earnings of 94 cents per share and $931.8 million in revenue.</p><p><blockquote>Zoom表示，预计第二财季调整后每股收益为1.14美元至1.15美元，营收为9.85亿美元至9.9亿美元。Refinitiv调查的分析师此前预计调整后每股收益为94美分，营收为9.318亿美元。</blockquote></p><p> For the full 2022 fiscal year, Zoom now sees $4.56 to $4.61 in adjusted earnings per share and $3.98 billion to $3.99 billion in revenue. Analysts polled by Refinitiv had been looking for $3.76 in adjusted earnings per share and $3.8 billion in revenue.</p><p><blockquote>Zoom目前预计2022财年全年调整后每股收益为4.56美元至4.61美元，营收为39.8亿美元至39.9亿美元。Refinitiv调查的分析师此前预计调整后每股收益为3.76美元，营收为38亿美元。</blockquote></p><p> Notwithstanding the after-hours move, shares of Zoom have fallen about 3% since the start of 2021, while the S&amp;P 500 index is up nearly 12% over the same period.</p><p><blockquote>尽管盘后走势，Zoom股价自2021年初以来已下跌约3%，而标普500指数同期上涨近12%。</blockquote></p><p> During the quarter, Zoom announcedenhancements to its Zoom Rooms offeringfor meeting locations, as well as a$100 million venture-capital fund.</p><p><blockquote>本季度，Zoom宣布增强其Zoom Rooms会议地点产品，并设立1亿美元的风险投资基金。</blockquote></p><p> Executives will discuss the results with analysts on a Zoom call starting at 5 p.m. ET.</p><p><blockquote>高管们将于下午5点开始在Zoom看涨期权上与分析师讨论结果。等。</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>Zoom reports blowout earnings but warns of a coming slowdown<blockquote>Zoom报告盈利井喷，但警告即将放缓</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nZoom reports blowout earnings but warns of a coming slowdown<blockquote>Zoom报告盈利井喷，但警告即将放缓</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 07:22</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Zoomreported better-than-expected first-quarter results Tuesday, with sales growth of 191%. The shares rose 4% in extended trading after initially falling as much as 5% as the company showed signs of a looming slowdown.<img src=\"https://static.tigerbbs.com/b1b99facf2971e24b0cf0b93e9021c5a\" tg-width=\"692\" tg-height=\"527\">Here’s how the company did:</p><p><blockquote>Zoom周二公布的第一季度业绩好于预期，销售额增长191%。由于该公司显示出即将放缓的迹象，该股最初下跌5%，随后在盘后交易中上涨4%。该公司的做法如下：</blockquote></p><p> <ul>  <li><b>Earnings:</b>$1.32 per share, adjusted, vs. 99 cents per share as expected by analysts, according to Refinitiv.</li>  <li><b>Revenue:</b>$956.2 million, vs. $906.0 million as expected by analysts, according to Refinitiv.</li> </ul> Revenue in the quarter, which ended on April 30, jumped from $328.2 million a year earlier, according to astatement. In the previous quarter revenuerose 369%as <a href=\"https://laohu8.com/S/ZM\">Zoom</a> lapped the onset of the coronavirus pandemic in the U.S., which brought inmillions of new users.<img src=\"https://static.tigerbbs.com/402d4ca1cb0a713d00d91053cedc620f\" tg-width=\"890\" tg-height=\"445\">The company’s gross margin widened to 73.9% from 69.4% in the previous quarter, primarily because of optimization of public-cloud resources, the company said. Zoom said its Zoom Phone product, including cloud-based phone services along with video calls and other capabilities, had 1.5 million seats at the end of April, up from1 millionin January.</p><p><blockquote><ul><li><b>收益：</b>根据Refinitiv的数据，调整后每股1.32美元，而分析师预期为每股99美分。</li><li><b>收入：</b>根据Refinitiv的数据，为9.562亿美元，而分析师预期为9.06亿美元。</li></ul>根据一份声明，截至4月30日的季度收入较去年同期的3.282亿美元跃升。上一季度收入增长369%<a href=\"https://laohu8.com/S/ZM\">Zoom</a>冠状病毒疫情在美国爆发，带来了数百万新用户。该公司表示，该公司的毛利率从上一季度的69.4%扩大至73.9%，这主要是由于公有云资源的优化。Zoom表示，其Zoom Phone产品包括基于云的电话服务以及视频评级和其他功能，截至4月底拥有150万个座位，高于1月份的100万个。</blockquote></p><p> Zoom said it expects $1.14 to $1.15 in adjusted earnings per share on $985 million to $990 million in revenue in the fiscal second quarter. Analysts polled by Refinitiv had expected adjusted earnings of 94 cents per share and $931.8 million in revenue.</p><p><blockquote>Zoom表示，预计第二财季调整后每股收益为1.14美元至1.15美元，营收为9.85亿美元至9.9亿美元。Refinitiv调查的分析师此前预计调整后每股收益为94美分，营收为9.318亿美元。</blockquote></p><p> For the full 2022 fiscal year, Zoom now sees $4.56 to $4.61 in adjusted earnings per share and $3.98 billion to $3.99 billion in revenue. Analysts polled by Refinitiv had been looking for $3.76 in adjusted earnings per share and $3.8 billion in revenue.</p><p><blockquote>Zoom目前预计2022财年全年调整后每股收益为4.56美元至4.61美元，营收为39.8亿美元至39.9亿美元。Refinitiv调查的分析师此前预计调整后每股收益为3.76美元，营收为38亿美元。</blockquote></p><p> Notwithstanding the after-hours move, shares of Zoom have fallen about 3% since the start of 2021, while the S&amp;P 500 index is up nearly 12% over the same period.</p><p><blockquote>尽管盘后走势，Zoom股价自2021年初以来已下跌约3%，而标普500指数同期上涨近12%。</blockquote></p><p> During the quarter, Zoom announcedenhancements to its Zoom Rooms offeringfor meeting locations, as well as a$100 million venture-capital fund.</p><p><blockquote>本季度，Zoom宣布增强其Zoom Rooms会议地点产品，并设立1亿美元的风险投资基金。</blockquote></p><p> Executives will discuss the results with analysts on a Zoom call starting at 5 p.m. ET.</p><p><blockquote>高管们将于下午5点开始在Zoom看涨期权上与分析师讨论结果。等。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZM":"Zoom"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184181912","content_text":"Zoomreported better-than-expected first-quarter results Tuesday, with sales growth of 191%. The shares rose 4% in extended trading after initially falling as much as 5% as the company showed signs of a looming slowdown.Here’s how the company did:\n\nEarnings:$1.32 per share, adjusted, vs. 99 cents per share as expected by analysts, according to Refinitiv.\nRevenue:$956.2 million, vs. $906.0 million as expected by analysts, according to Refinitiv.\n\nRevenue in the quarter, which ended on April 30, jumped from $328.2 million a year earlier, according to astatement. In the previous quarter revenuerose 369%as Zoom lapped the onset of the coronavirus pandemic in the U.S., which brought inmillions of new users.The company’s gross margin widened to 73.9% from 69.4% in the previous quarter, primarily because of optimization of public-cloud resources, the company said. Zoom said its Zoom Phone product, including cloud-based phone services along with video calls and other capabilities, had 1.5 million seats at the end of April, up from1 millionin January.\nZoom said it expects $1.14 to $1.15 in adjusted earnings per share on $985 million to $990 million in revenue in the fiscal second quarter. Analysts polled by Refinitiv had expected adjusted earnings of 94 cents per share and $931.8 million in revenue.\nFor the full 2022 fiscal year, Zoom now sees $4.56 to $4.61 in adjusted earnings per share and $3.98 billion to $3.99 billion in revenue. Analysts polled by Refinitiv had been looking for $3.76 in adjusted earnings per share and $3.8 billion in revenue.\nNotwithstanding the after-hours move, shares of Zoom have fallen about 3% since the start of 2021, while the S&P 500 index is up nearly 12% over the same period.\nDuring the quarter, Zoom announcedenhancements to its Zoom Rooms offeringfor meeting locations, as well as a$100 million venture-capital fund.\nExecutives will discuss the results with analysts on a Zoom call starting at 5 p.m. ET.","news_type":1,"symbols_score_info":{"ZM":0.9}},"isVote":1,"tweetType":1,"viewCount":1171,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":111915693,"gmtCreate":1622648713712,"gmtModify":1634099568441,"author":{"id":"3565951516983876","authorId":"3565951516983876","name":"Whyandwhynot","avatar":"https://static.tigerbbs.com/1c1b86e70178e57c45cdafdbcce886c6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565951516983876","idStr":"3565951516983876"},"themes":[],"htmlText":"Growing strong&nbsp;","listText":"Growing strong&nbsp;","text":"Growing 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perspective….","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/194810315","repostId":"1189117782","repostType":4,"isVote":1,"tweetType":1,"viewCount":355,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":194832499,"gmtCreate":1621352430211,"gmtModify":1634192192780,"author":{"id":"3565951516983876","authorId":"3565951516983876","name":"Whyandwhynot","avatar":"https://static.tigerbbs.com/1c1b86e70178e57c45cdafdbcce886c6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565951516983876","idStr":"3565951516983876"},"themes":[],"htmlText":"Wow!&nbsp;","listText":"Wow!&nbsp;","text":"Wow!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/194832499","repostId":"2136738931","repostType":4,"repost":{"id":"2136738931","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":1621318800,"share":"https://www.laohu8.com/m/news/2136738931?lang=zh_CN&edition=full","pubTime":"2021-05-18 14:20","market":"hk","language":"en","title":"JD Logistics launches Hong Kong IPO to raise up to US$3.4 billion<blockquote>京东物流启动香港IPO募资至多34亿美元</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2136738931","media":"Tiger Newspress","summary":"The logistics arm of Chinese e-commerce giant JD.com started marketing its Hong Kong initial public offering  to retail investors on Monday at a price range of HK$39.36 to HK$43.36 per share, which could see the firm raise as much as HK$26.4 billion  if the deal is priced at the top end.JD Logistics' public offering will run from Monday to Friday. Its shares are expected to begin trading on the Hong Kong bourse's main board on May 28.JD Logistics' offering is expected to be the second multibilli","content":"<p>The logistics arm of Chinese e-commerce giant JD.com started marketing its Hong Kong initial public offering (IPO) to retail investors on Monday at a price range of HK$39.36 to HK$43.36 per share, which could see the firm raise as much as HK$26.4 billion (US$3.4 billion) if the deal is priced at the top end.<a href=\"https://www.itiger.com/mi/ipo?feature=Push\" target=\"_blank\"><b>（Click here To apply for the JD Logistics Shares）</b></a><b></b></p><p><blockquote>中国电子商务巨头京东的物流部门周一开始向散户投资者推销其在香港的首次公开募股（IPO），价格范围为每股39.36港元至43.36港元，如果交易定价在最高端，该公司可能会筹集高达264亿港元（34亿美元）。<a href=\"https://www.itiger.com/mi/ipo?feature=Push\" target=\"_blank\"><b>（点击此处申请京东物流股份）</b></a><b></b></blockquote></p><p>JD Logistics' public offering will run from Monday to Friday. Its shares are expected to begin trading on the Hong Kong bourse's main board on May 28.</p><p><blockquote>京东物流的公开发行将从周一持续到周五。其股票预计将于5月28日在香港交易所主板开始交易。</blockquote></p><p>JD Logistics plans to sell 609.2 million shares, representing 10 per cent of its enlarged share capital. There is an over-allotment option to sell up to 91.4 million more shares if there is a strong demand.</p><p><blockquote>京东物流计划出售6.092亿股股票，占其扩大后股本的10%。如果需求强劲，则有超额配股权可再出售最多9140万股。</blockquote></p><p><img src=\"https://static.tigerbbs.com/cd9320033ea7302952fa2cb6ece8339a\" tg-width=\"958\" tg-height=\"464\"></p><p><blockquote></blockquote></p><p>Your application must be for a minimum of 100 Hong Kong Offer Shares and in one of the numbers set out in the table. You are required to pay the amount next to the number you select.</p><p><blockquote>阁下的申请必须认购最少100股香港发售股份，并按下表所列其中一个数目认购。您需要支付您选择的号码旁边的金额。</blockquote></p><p><img src=\"https://static.tigerbbs.com/b1f72efeb4b54a02dbfe728ebb1099dd\" tg-width=\"958\" tg-height=\"437\"></p><p><blockquote></blockquote></p><p>JD Logistics' offering is expected to be the second multibillion-dollar IPO on the Hong Kong bourse this year, after Tencent-backed short video platform Kuaishou Technology raised US$6.2 billion in January. The Kuaishou offering was the biggest IPO globally so far this year.</p><p><blockquote>京东物流的发行预计将是今年港交所第二笔数十亿美元的IPO，此前腾讯控股支持的短视频平台快手科技在1月份筹集了62亿美元。快手的发行是今年迄今为止全球最大的IPO。</blockquote></p><p>Eight cornerstone investors have committed to buy a total of US$1.5 billion worth of JD Logistics shares, which would account for about 39 per cent of its global offering if the deal is priced at the top end.</p><p><blockquote>八名基石投资者已承诺购买总价值15亿美元的京东物流股票，如果交易定价为最高端，这将占其全球发行的约39%。</blockquote></p><p>The investors include Softbank, Singapore sovereign wealth fund Temasek Holdings, China Structural Reform Fund and asset managers such as Blackstone, Tiger Global Management and others.</p><p><blockquote>投资者包括软银、新加坡主权财富基金淡马锡控股、中国结构性改革基金以及黑石、老虎环球管理等资产管理公司。</blockquote></p><p>BofA Securities, Goldman Sachs and Haitong International are acting as joint sponsors on the transaction, while UBS is serving as a financial adviser.</p><p><blockquote>美银证券、高盛和海通国际担任此次交易的联席保荐人，瑞银则担任财务顾问。</blockquote></p><p>Assuming the deal is priced at the top end, JD Logistics' market capitalisation would be HK$264.1 billion, valuing it higher than ZTO Express.</p><p><blockquote>假设该交易定价为最高端，京东物流的市值将为2641亿港元，估值高于中通快递。</blockquote></p><p>Shanghai-based ZTO, which counts Alibaba Group Holding as one of its shareholders, had a market capitalisation of HK$180.7 billion when it listed in Hong Kong through a secondary listing last September. Alibaba owns the South China Morning Post.</p><p><blockquote>总部位于上海的中通去年9月通过二次上市在港上市时，市值为1807亿港元，阿里巴巴-SW集团是其股东之一。阿里巴巴-SW拥有《南华早报》。</blockquote></p><p>Investors will be keen to learn more about JD Logistics' plan to churn out a profit. The Beijing-based firm said in its prospectus that it expects a bigger net loss for this year, after racking up losses of 2.8 billion yuan (US$435 million) in 2018, 2.2 billion yuan in 2019 and 4 billion yuan in 2020.</p><p><blockquote>投资者将渴望了解更多有关京东物流盈利计划的信息。这家总部位于北京的公司在招股说明书中表示，预计今年的净亏损将更大，此前2018年亏损28亿元人民币（4.35亿美元），2019年亏损22亿元人民币，2020年亏损40亿元人民币。</blockquote></p><p>\"As we currently prioritise growth of our business and expansion of our market share over profitability, there can be significant fluctuations in our profitability profile in the near-to-medium term,\" the company said in its draft prospectus.</p><p><blockquote>该公司在招股说明书草案中表示：“由于我们目前将业务增长和市场份额扩大置于盈利能力之上，因此我们的盈利状况在中短期内可能会出现重大波动。”</blockquote></p><p>JD Logistics is seeking to differentiate itself from other players, such as ZTO and Yunda Holding, by touting itself as a technology-driven logistic services provider using autonomous mobile robots, sorting robots and self-driving vehicles to enhance delivery speed and accuracy.</p><p><blockquote>京东物流正在寻求与中通和韵达控股等其他参与者区分开来，将自己标榜为一家技术驱动的物流服务提供商，使用自主移动机器人、分拣机器人和自动驾驶汽车来提高配送速度和准确性。</blockquote></p><p>Pitching the stock sale with a tech angle could help JD Logistics paint a more positive outlook. This is because competition is particularly keen in the express delivery sector, with reports of some newer players offering services at below cost to grab business.</p><p><blockquote>从技术角度推销股票销售可以帮助京东物流描绘更积极的前景。这是因为快递行业的竞争尤其激烈，有报道称一些新参与者以低于成本的价格提供服务来抢占业务。</blockquote></p><p>Over the past three years, the average revenue per parcel for express delivery companies declined by 50 per cent to 60 per cent owing to intensive market competition, according to Charlie Chen, an analyst at China Renaissance.</p><p><blockquote>华兴资本分析师查理·陈(Charlie Chen)表示，过去三年，由于市场竞争激烈，快递公司每个包裹的平均收入下降了50%至60%。</blockquote></p><p>SF Express, China's top delivery service provider, shocked the market this month after it forecast a first-quarter loss of 1.1 billion yuan, triggering a sell-off of its stock. As of Friday's close, its share price in Shanghai was almost halved from its mid-February peak.</p><p><blockquote>中国最大的快递服务提供商顺丰本月震惊市场，此前该公司预测第一季度亏损11亿元人民币，引发了对其股票的抛售。截至周五收盘，其在上海的股价较2月中旬的峰值几乎腰斩。</blockquote></p><p>Five players - ZTO, YTO Express, STO Express, SF Express and Yunda Holding - account for nearly 80 per cent of China's express delivery service market.</p><p><blockquote>中通、圆通快递、申通快递、顺丰快递和韵达控股这五家公司占据了中国快递服务市场近80%的份额。</blockquote></p><p>China is the biggest logistics market in the world in terms of spending, with total logistics spending reaching 14.9 trillion yuan in 2020. That is expected to increase to 19.3 trillion yuan by 2025, according to data from research firm China Insights Consultancy cited in JD Logistics' prospectus.</p><p><blockquote>就支出而言，中国是全球最大的物流市场，2020年物流总支出达到14.9万亿元。京东物流招股说明书中引用的研究公司灼识咨询的数据显示，预计到2025年，这一数字将增至19.3万亿元。</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>JD Logistics launches Hong Kong IPO to raise up to US$3.4 billion<blockquote>京东物流启动香港IPO募资至多34亿美元</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\">\nJD Logistics launches Hong Kong IPO to raise up to US$3.4 billion<blockquote>京东物流启动香港IPO募资至多34亿美元</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\">2021-05-18 14:20</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The logistics arm of Chinese e-commerce giant JD.com started marketing its Hong Kong initial public offering (IPO) to retail investors on Monday at a price range of HK$39.36 to HK$43.36 per share, which could see the firm raise as much as HK$26.4 billion (US$3.4 billion) if the deal is priced at the top end.<a href=\"https://www.itiger.com/mi/ipo?feature=Push\" target=\"_blank\"><b>（Click here To apply for the JD Logistics Shares）</b></a><b></b></p><p><blockquote>中国电子商务巨头京东的物流部门周一开始向散户投资者推销其在香港的首次公开募股（IPO），价格范围为每股39.36港元至43.36港元，如果交易定价在最高端，该公司可能会筹集高达264亿港元（34亿美元）。<a href=\"https://www.itiger.com/mi/ipo?feature=Push\" target=\"_blank\"><b>（点击此处申请京东物流股份）</b></a><b></b></blockquote></p><p>JD Logistics' public offering will run from Monday to Friday. Its shares are expected to begin trading on the Hong Kong bourse's main board on May 28.</p><p><blockquote>京东物流的公开发行将从周一持续到周五。其股票预计将于5月28日在香港交易所主板开始交易。</blockquote></p><p>JD Logistics plans to sell 609.2 million shares, representing 10 per cent of its enlarged share capital. There is an over-allotment option to sell up to 91.4 million more shares if there is a strong demand.</p><p><blockquote>京东物流计划出售6.092亿股股票，占其扩大后股本的10%。如果需求强劲，则有超额配股权可再出售最多9140万股。</blockquote></p><p><img src=\"https://static.tigerbbs.com/cd9320033ea7302952fa2cb6ece8339a\" tg-width=\"958\" tg-height=\"464\"></p><p><blockquote></blockquote></p><p>Your application must be for a minimum of 100 Hong Kong Offer Shares and in one of the numbers set out in the table. You are required to pay the amount next to the number you select.</p><p><blockquote>阁下的申请必须认购最少100股香港发售股份，并按下表所列其中一个数目认购。您需要支付您选择的号码旁边的金额。</blockquote></p><p><img src=\"https://static.tigerbbs.com/b1f72efeb4b54a02dbfe728ebb1099dd\" tg-width=\"958\" tg-height=\"437\"></p><p><blockquote></blockquote></p><p>JD Logistics' offering is expected to be the second multibillion-dollar IPO on the Hong Kong bourse this year, after Tencent-backed short video platform Kuaishou Technology raised US$6.2 billion in January. The Kuaishou offering was the biggest IPO globally so far this year.</p><p><blockquote>京东物流的发行预计将是今年港交所第二笔数十亿美元的IPO，此前腾讯控股支持的短视频平台快手科技在1月份筹集了62亿美元。快手的发行是今年迄今为止全球最大的IPO。</blockquote></p><p>Eight cornerstone investors have committed to buy a total of US$1.5 billion worth of JD Logistics shares, which would account for about 39 per cent of its global offering if the deal is priced at the top end.</p><p><blockquote>八名基石投资者已承诺购买总价值15亿美元的京东物流股票，如果交易定价为最高端，这将占其全球发行的约39%。</blockquote></p><p>The investors include Softbank, Singapore sovereign wealth fund Temasek Holdings, China Structural Reform Fund and asset managers such as Blackstone, Tiger Global Management and others.</p><p><blockquote>投资者包括软银、新加坡主权财富基金淡马锡控股、中国结构性改革基金以及黑石、老虎环球管理等资产管理公司。</blockquote></p><p>BofA Securities, Goldman Sachs and Haitong International are acting as joint sponsors on the transaction, while UBS is serving as a financial adviser.</p><p><blockquote>美银证券、高盛和海通国际担任此次交易的联席保荐人，瑞银则担任财务顾问。</blockquote></p><p>Assuming the deal is priced at the top end, JD Logistics' market capitalisation would be HK$264.1 billion, valuing it higher than ZTO Express.</p><p><blockquote>假设该交易定价为最高端，京东物流的市值将为2641亿港元，估值高于中通快递。</blockquote></p><p>Shanghai-based ZTO, which counts Alibaba Group Holding as one of its shareholders, had a market capitalisation of HK$180.7 billion when it listed in Hong Kong through a secondary listing last September. Alibaba owns the South China Morning Post.</p><p><blockquote>总部位于上海的中通去年9月通过二次上市在港上市时，市值为1807亿港元，阿里巴巴-SW集团是其股东之一。阿里巴巴-SW拥有《南华早报》。</blockquote></p><p>Investors will be keen to learn more about JD Logistics' plan to churn out a profit. The Beijing-based firm said in its prospectus that it expects a bigger net loss for this year, after racking up losses of 2.8 billion yuan (US$435 million) in 2018, 2.2 billion yuan in 2019 and 4 billion yuan in 2020.</p><p><blockquote>投资者将渴望了解更多有关京东物流盈利计划的信息。这家总部位于北京的公司在招股说明书中表示，预计今年的净亏损将更大，此前2018年亏损28亿元人民币（4.35亿美元），2019年亏损22亿元人民币，2020年亏损40亿元人民币。</blockquote></p><p>\"As we currently prioritise growth of our business and expansion of our market share over profitability, there can be significant fluctuations in our profitability profile in the near-to-medium term,\" the company said in its draft prospectus.</p><p><blockquote>该公司在招股说明书草案中表示：“由于我们目前将业务增长和市场份额扩大置于盈利能力之上，因此我们的盈利状况在中短期内可能会出现重大波动。”</blockquote></p><p>JD Logistics is seeking to differentiate itself from other players, such as ZTO and Yunda Holding, by touting itself as a technology-driven logistic services provider using autonomous mobile robots, sorting robots and self-driving vehicles to enhance delivery speed and accuracy.</p><p><blockquote>京东物流正在寻求与中通和韵达控股等其他参与者区分开来，将自己标榜为一家技术驱动的物流服务提供商，使用自主移动机器人、分拣机器人和自动驾驶汽车来提高配送速度和准确性。</blockquote></p><p>Pitching the stock sale with a tech angle could help JD Logistics paint a more positive outlook. This is because competition is particularly keen in the express delivery sector, with reports of some newer players offering services at below cost to grab business.</p><p><blockquote>从技术角度推销股票销售可以帮助京东物流描绘更积极的前景。这是因为快递行业的竞争尤其激烈，有报道称一些新参与者以低于成本的价格提供服务来抢占业务。</blockquote></p><p>Over the past three years, the average revenue per parcel for express delivery companies declined by 50 per cent to 60 per cent owing to intensive market competition, according to Charlie Chen, an analyst at China Renaissance.</p><p><blockquote>华兴资本分析师查理·陈(Charlie Chen)表示，过去三年，由于市场竞争激烈，快递公司每个包裹的平均收入下降了50%至60%。</blockquote></p><p>SF Express, China's top delivery service provider, shocked the market this month after it forecast a first-quarter loss of 1.1 billion yuan, triggering a sell-off of its stock. As of Friday's close, its share price in Shanghai was almost halved from its mid-February peak.</p><p><blockquote>中国最大的快递服务提供商顺丰本月震惊市场，此前该公司预测第一季度亏损11亿元人民币，引发了对其股票的抛售。截至周五收盘，其在上海的股价较2月中旬的峰值几乎腰斩。</blockquote></p><p>Five players - ZTO, YTO Express, STO Express, SF Express and Yunda Holding - account for nearly 80 per cent of China's express delivery service market.</p><p><blockquote>中通、圆通快递、申通快递、顺丰快递和韵达控股这五家公司占据了中国快递服务市场近80%的份额。</blockquote></p><p>China is the biggest logistics market in the world in terms of spending, with total logistics spending reaching 14.9 trillion yuan in 2020. That is expected to increase to 19.3 trillion yuan by 2025, according to data from research firm China Insights Consultancy cited in JD Logistics' prospectus.</p><p><blockquote>就支出而言，中国是全球最大的物流市场，2020年物流总支出达到14.9万亿元。京东物流招股说明书中引用的研究公司灼识咨询的数据显示，预计到2025年，这一数字将增至19.3万亿元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"02618":"京东物流"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2136738931","content_text":"The logistics arm of Chinese e-commerce giant JD.com started marketing its Hong Kong initial public offering (IPO) to retail investors on Monday at a price range of HK$39.36 to HK$43.36 per share, which could see the firm raise as much as HK$26.4 billion (US$3.4 billion) if the deal is priced at the top end.（Click here To apply for the JD Logistics Shares）JD Logistics' public offering will run from Monday to Friday. Its shares are expected to begin trading on the Hong Kong bourse's main board on May 28.JD Logistics plans to sell 609.2 million shares, representing 10 per cent of its enlarged share capital. There is an over-allotment option to sell up to 91.4 million more shares if there is a strong demand.Your application must be for a minimum of 100 Hong Kong Offer Shares and in one of the numbers set out in the table. You are required to pay the amount next to the number you select.JD Logistics' offering is expected to be the second multibillion-dollar IPO on the Hong Kong bourse this year, after Tencent-backed short video platform Kuaishou Technology raised US$6.2 billion in January. The Kuaishou offering was the biggest IPO globally so far this year.Eight cornerstone investors have committed to buy a total of US$1.5 billion worth of JD Logistics shares, which would account for about 39 per cent of its global offering if the deal is priced at the top end.The investors include Softbank, Singapore sovereign wealth fund Temasek Holdings, China Structural Reform Fund and asset managers such as Blackstone, Tiger Global Management and others.BofA Securities, Goldman Sachs and Haitong International are acting as joint sponsors on the transaction, while UBS is serving as a financial adviser.Assuming the deal is priced at the top end, JD Logistics' market capitalisation would be HK$264.1 billion, valuing it higher than ZTO Express.Shanghai-based ZTO, which counts Alibaba Group Holding as one of its shareholders, had a market capitalisation of HK$180.7 billion when it listed in Hong Kong through a secondary listing last September. Alibaba owns the South China Morning Post.Investors will be keen to learn more about JD Logistics' plan to churn out a profit. The Beijing-based firm said in its prospectus that it expects a bigger net loss for this year, after racking up losses of 2.8 billion yuan (US$435 million) in 2018, 2.2 billion yuan in 2019 and 4 billion yuan in 2020.\"As we currently prioritise growth of our business and expansion of our market share over profitability, there can be significant fluctuations in our profitability profile in the near-to-medium term,\" the company said in its draft prospectus.JD Logistics is seeking to differentiate itself from other players, such as ZTO and Yunda Holding, by touting itself as a technology-driven logistic services provider using autonomous mobile robots, sorting robots and self-driving vehicles to enhance delivery speed and accuracy.Pitching the stock sale with a tech angle could help JD Logistics paint a more positive outlook. This is because competition is particularly keen in the express delivery sector, with reports of some newer players offering services at below cost to grab business.Over the past three years, the average revenue per parcel for express delivery companies declined by 50 per cent to 60 per cent owing to intensive market competition, according to Charlie Chen, an analyst at China Renaissance.SF Express, China's top delivery service provider, shocked the market this month after it forecast a first-quarter loss of 1.1 billion yuan, triggering a sell-off of its stock. As of Friday's close, its share price in Shanghai was almost halved from its mid-February peak.Five players - ZTO, YTO Express, STO Express, SF Express and Yunda Holding - account for nearly 80 per cent of China's express delivery service market.China is the biggest logistics market in the world in terms of spending, with total logistics spending reaching 14.9 trillion yuan in 2020. That is expected to increase to 19.3 trillion yuan by 2025, according to data from research firm China Insights Consultancy cited in JD Logistics' prospectus.","news_type":1,"symbols_score_info":{"02618":0.9}},"isVote":1,"tweetType":1,"viewCount":716,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":196980665,"gmtCreate":1621004739757,"gmtModify":1634194605867,"author":{"id":"3565951516983876","authorId":"3565951516983876","name":"Whyandwhynot","avatar":"https://static.tigerbbs.com/1c1b86e70178e57c45cdafdbcce886c6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565951516983876","idStr":"3565951516983876"},"themes":[],"htmlText":"Hmm…","listText":"Hmm…","text":"Hmm…","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/196980665","repostId":"1173244066","repostType":4,"repost":{"id":"1173244066","kind":"news","pubTimestamp":1621004086,"share":"https://www.laohu8.com/m/news/1173244066?lang=zh_CN&edition=full","pubTime":"2021-05-14 22:54","market":"us","language":"en","title":"What Disney, Airbnb and DoorDash results reveal about the post-pandemic economy<blockquote>迪士尼、爱彼迎和DoorDash的业绩揭示了大流行后经济的哪些信息</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1173244066","media":"CNN","summary":"London (CNN Business)Companies are gearing up for an era in which Covid-19 isn't the primary driver ","content":"<p>London (CNN Business)Companies are gearing up for an era in which Covid-19 isn't the primary driver of how people spend their money.</p><p><blockquote>伦敦（CNN Business）公司正在为一个新冠肺炎不再是人们花钱的主要驱动力的时代做准备。</blockquote></p><p> The big question: As the coronavirus situation improves in countries like the United States, which trends from the past 14 months will have staying power, and which will be resigned to the pandemic past?</p><p><blockquote>最大的问题是：随着美国等国家冠状病毒情况的改善，过去14个月的哪些趋势将具有持久力，哪些将听天由命于疫情的过去？</blockquote></p><p> Airbnb, DoorDash and Disney (DIS), which reported results after US markets closed on Thursday, provide some idea.</p><p><blockquote>爱彼迎、DoorDash和迪士尼(DIS)在周四美国市场收盘后公布了业绩，这提供了一些思路。</blockquote></p><p> Airbnb: The company said interest in travel is surging again as vaccines become more widely available, pointing to a sharp increase in bookings in the United Kingdom immediately after British Prime Minister Boris Johnson announced plans in February to gradually exit lockdown. For US customers aged 60 and above, searches on Airbnb for summer travel rose by more than 60% between February and March.</p><p><blockquote>爱彼迎：该公司表示，随着疫苗变得更加广泛，人们对旅行的兴趣再次激增，并指出在英国首相Boris Johnson在2月份宣布逐步解除封锁的计划后，英国的预订量立即急剧增加。对于60岁及以上的美国客户来说，2月至3月期间，爱彼迎上夏季旅行的搜索量增长了60%以上。</blockquote></p><p> The company is also ready for more customers to use Airbnb for longer-term stays as they take advantage of greater acceptance of remote work. It said that nearly a quarter of stays last quarter were for 28 days or more, up 14% from 2019. Shares are down slightly in premarket trading.</p><p><blockquote>该公司还准备让更多客户使用爱彼迎进行长期住宿，因为他们利用了远程工作的更大接受度。该公司表示，上季度近四分之一的停留时间为28天或以上，比2019年增长了14%。股价在盘前交易中小幅下跌。</blockquote></p><p> DoorDash: People are still ordering lots of food delivery even as restaurants open back up for traditional dining. DoorDash reported a 198% jump in revenue last quarter to $1.1 billion even as it dealt with a shortage of workers, and increased its full-year outlook.</p><p><blockquote>DoorDash：即使餐馆重新开放传统餐饮，人们仍然订购大量外卖。DoorDash报告称，尽管面临工人短缺的问题，上季度收入仍增长198%，达到11亿美元，并上调了全年预期。</blockquote></p><p> \"As markets continued reopening and in-store dining increased across the US, the impact to our order volume was smaller than we expected, which contributed to strong performance in the quarter,\" the company said, though it cautioned that may have been partially attributable to stimulus checks. Shares are up almost 9% in premarket trading.</p><p><blockquote>该公司表示：“随着市场继续重新开放以及美国各地店内餐饮的增加，对我们订单量的影响小于我们的预期，这有助于本季度的强劲业绩。”不过该公司警告说，这可能部分归因于刺激检查。股价在盘前交易中上涨近9%。</blockquote></p><p> Disney: Streaming has carried Disney through the pandemic, with Disney+ growing to more than 100 million subscribers. Yet the biggest star in Disney's media universe appears to be shining a little less bright, sending shares down 4%.</p><p><blockquote>迪士尼：流媒体让迪士尼穿越了疫情，Disney+的订户已经超过1亿。然而，迪士尼媒体领域最大的明星似乎不那么耀眼了，导致股价下跌4%。</blockquote></p><p> The company said Thursday that Disney+ now has 103.6 million subscribers, below the 110 million Wall Street was expecting. That's forced investors to wonder: Is that because people are getting vaccinated and stepping away from streaming? Netflix also reported sluggish subscription growth last quarter.</p><p><blockquote>该公司周四表示，Disney+目前拥有1.036亿订阅用户，低于华尔街预期的1.1亿。这迫使投资者想知道：这是因为人们正在接种疫苗并远离流媒体吗？Netflix上季度的订阅增长也缓慢。</blockquote></p><p> Down but not out: Disney said it remains on track to reach its long-term subscriber goals despite the apparent slowdown. It's betting that as the pandemic eases, it will be able to produce more movies and shows, helping to bring in new customers.</p><p><blockquote>下滑但并未出局：迪士尼表示，尽管经济明显放缓，但仍有望实现其长期订户目标。该公司押注，随着疫情的缓解，它将能够制作更多的电影和节目，帮助吸引新客户。</blockquote></p><p> Whether it's right will become clearer in the months ahead, which will pose the true test of whether people actually ditch their sweatpants, get out of the house and shake up the economy once again.</p><p><blockquote>这是否正确将在未来几个月变得更加清晰，这将是人们是否真的抛弃运动裤、走出家门并再次撼动经济的真正考验。</blockquote></p><p> <b>It could get easier to get a credit card without a credit score</b></p><p><blockquote><b>无需信用评分即可获得信用卡可能会变得更容易</b></blockquote></p><p> For years, if you didn't have a credit score it was extremely difficult to get a credit card or certain types of loans. But a new plan among some of the nation's largest banks may help Americans without traditional credit histories get approved.</p><p><blockquote>多年来，如果你没有信用评分，很难获得信用卡或某些类型的贷款。但美国一些最大银行的一项新计划可能会帮助没有传统信用记录的美国人获得批准。</blockquote></p><p> Ten banks — including JPMorgan Chase (JPM), Wells Fargo (WFC) and U.S. Bancorp (USB) — have tentatively agreed to a plan to share data like bank account deposits and bill payment activity to help qualify borrowers without traditional credit histories, according to the Wall Street Journal.</p><p><blockquote>据报道，包括摩根大通(JPM)、富国银行(WFC)和美国合众银行(USB)在内的十家银行已初步同意一项共享银行账户存款和账单支付活动等数据的计划，以帮助没有传统信用记录的借款人获得资格。华尔街日报。</blockquote></p><p> The push for financial institutions to come to a data sharing agreement came from a program run by the Office of the Comptroller of the Currency. The OCC has confirmed there is a plan, but the details of the agreement among the banks still need to be worked out.</p><p><blockquote>金融机构达成数据共享协议的推动力来自货币监理署运行的一项计划。OCC已确认有一项计划，但银行之间协议的细节仍需制定。</blockquote></p><p> Should the proposed arrangement go through, it would mean that if you don't have a credit score but you have a bank account at Wells Fargo, for example, you can use that financial history to help you get a credit card with another bank, like JPMorgan Chase.</p><p><blockquote>如果拟议的安排获得通过，这将意味着，例如，如果您没有信用评分，但在富国银行拥有银行账户，您可以利用该财务历史记录来帮助您在另一家银行获得信用卡，例如摩根大通。</blockquote></p><p> \"This will give millions of Americans the opportunity to access credit that's essential to building wealth — buying a home, starting a business, or financing education,\" Trish Wexler, a spokesperson for JPMorgan Chase, told CNN Business.</p><p><blockquote>摩根大通发言人特里什·韦克斯勒(Trish Wexler)告诉CNN Business：“这将使数百万美国人有机会获得信贷，这对于积累财富至关重要——买房、创业或资助教育。”</blockquote></p><p> The backstory: There are currently 53 million people without a credit score, according to the Fair Isaac Corporation, the creator of FICO credit scores. These consumers, who are disproportionately lower income and people of color, face higher borrowing costs because they're forced to turn to products like payday loans.</p><p><blockquote>背景故事：根据FICO信用评分的创建者Fair Isaac Corporation的数据，目前有5300万人没有信用评分。这些消费者是不成比例的低收入和有色人种，他们面临更高的借贷成本，因为他们被迫转向发薪日贷款等产品。</blockquote></p><p> Banks and lenders refer to those without credit history as \"credit invisible.\" This group can include young people or recent immigrants, as well as people who haven't used credit in a long time or who have lost their access due to financial difficulties.</p><p><blockquote>银行和贷方将那些没有信用记录的人称为“隐形信用”。这个群体可以包括年轻人或新移民，以及很长时间没有使用信贷或由于经济困难而失去信贷的人。</blockquote></p><p> The business angle: Big banks may also be eager to revise their policies as online upstarts chip away at demand for their products.</p><p><blockquote>商业角度：随着在线新贵削弱对其产品的需求，大银行也可能渴望修改其政策。</blockquote></p><p></p><p> \"Some of this cooperation among the biggest banks may be a bit of reaction to smaller banks and fintech companies infringing on their space,\" said Matt Schulz, chief industry analyst at LendingTree.</p><p><blockquote>LendingTree首席行业分析师马特·舒尔茨(Matt Schulz)表示：“大型银行之间的一些合作可能是对小型银行和金融科技公司侵犯其空间的反应。”</blockquote></p><p> <b>Target will temporarily stop selling trading cards amid frenzy</b></p><p><blockquote><b>Target将在狂热中暂时停止销售交易卡</b></blockquote></p><p> Target (TGT) has announced that it will stop selling trading cards in its stores following a violent dispute at one of its locations — a sign of just how overheated the market for collectibles has become.</p><p><blockquote>塔吉特(TGT)宣布，在其一个门店发生暴力纠纷后，将停止在其商店销售交易卡，这表明收藏品市场已经变得多么过热。</blockquote></p><p> The details: Last week, a Target in Wisconsin was locked down after a man was physically assaulted by four others over sports trading cards.</p><p><blockquote>细节：上周，威斯康星州的一个目标被锁定，此前一名男子因体育交易卡被另外四人殴打。</blockquote></p><p> \"The safety of our guests and our team is our top priority,\" Target said in a statement. \"Out of an abundance of caution, we've decided to temporarily suspend the sale of MLB, NFL, NBA and Pokémon trading cards within our stores, effective [Friday].\"</p><p><blockquote>塔吉特在一份声明中表示：“客人和团队的安全是我们的首要任务。”“出于谨慎，我们决定从[周五]起暂时停止在我们的商店内销售MLB、NFL、NBA和Pokémon交易卡。”</blockquote></p><p> The cards will still be available online, the company said.</p><p><blockquote>该公司表示，这些卡仍将在网上提供。</blockquote></p><p> Remember: The value of trading cards has skyrocketed in recent months during the Covid-19 pandemic. That's grabbed interest from both amateur and professional investors looking to cash in on spectacular returns.</p><p><blockquote>请记住：近几个月来，在Covid-19大流行期间，交易卡的价值飙升。这引起了业余和专业投资者的兴趣，他们希望获得惊人的回报。</blockquote></p><p> Target previously was limiting card purchases to just one item a day, saying that guests were lining up overnight to get their hands on hot items, per CNN affiliate WISN.</p><p><blockquote>据CNN附属机构WISN报道，塔吉特百货此前限制每天只能购买一件商品，称客人会连夜排队购买热门商品。</blockquote></p><p> Walmart (WMT), for its part, said it will keep selling cards in stores for now.</p><p><blockquote>沃尔玛(WMT)则表示，目前将继续在商店销售贺卡。</blockquote></p><p> \"We are determining what, if any, changes are needed to meet customer demand while ensuring a safe and enjoyable shopping experience,\" a spokesperson said in a statement.</p><p><blockquote>一位发言人在一份声明中表示：“我们正在确定需要做出哪些改变（如果有的话），以满足客户需求，同时确保安全、愉快的购物体验。”</blockquote></p><p> <b>Up next</b></p><p><blockquote><b>下一个</b></blockquote></p><p> Data on US retail sales, import and export prices and industrial production arrives at 8:30 a.m. ET.</p><p><blockquote>美国零售销售、进出口价格和工业生产数据将于美国东部时间上午8:30公布。</blockquote></p><p> Coming next week: Home Depot (HD) and Lowe's (LOW) report earnings as the housing market booms.</p><p><blockquote>下周：随着房地产市场的繁荣，家得宝(HD)和劳氏(LOW)公布收益。</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>What Disney, Airbnb and DoorDash results reveal about the post-pandemic economy<blockquote>迪士尼、爱彼迎和DoorDash的业绩揭示了大流行后经济的哪些信息</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; 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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\">\nWhat Disney, Airbnb and DoorDash results reveal about the post-pandemic economy<blockquote>迪士尼、爱彼迎和DoorDash的业绩揭示了大流行后经济的哪些信息</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">CNN</strong><span class=\"h-time small\">2021-05-14 22:54</span>\n</p>\n</h4>\n</header>\n<article>\n<p>London (CNN Business)Companies are gearing up for an era in which Covid-19 isn't the primary driver of how people spend their money.</p><p><blockquote>伦敦（CNN Business）公司正在为一个新冠肺炎不再是人们花钱的主要驱动力的时代做准备。</blockquote></p><p> The big question: As the coronavirus situation improves in countries like the United States, which trends from the past 14 months will have staying power, and which will be resigned to the pandemic past?</p><p><blockquote>最大的问题是：随着美国等国家冠状病毒情况的改善，过去14个月的哪些趋势将具有持久力，哪些将听天由命于疫情的过去？</blockquote></p><p> Airbnb, DoorDash and Disney (DIS), which reported results after US markets closed on Thursday, provide some idea.</p><p><blockquote>爱彼迎、DoorDash和迪士尼(DIS)在周四美国市场收盘后公布了业绩，这提供了一些思路。</blockquote></p><p> Airbnb: The company said interest in travel is surging again as vaccines become more widely available, pointing to a sharp increase in bookings in the United Kingdom immediately after British Prime Minister Boris Johnson announced plans in February to gradually exit lockdown. For US customers aged 60 and above, searches on Airbnb for summer travel rose by more than 60% between February and March.</p><p><blockquote>爱彼迎：该公司表示，随着疫苗变得更加广泛，人们对旅行的兴趣再次激增，并指出在英国首相Boris Johnson在2月份宣布逐步解除封锁的计划后，英国的预订量立即急剧增加。对于60岁及以上的美国客户来说，2月至3月期间，爱彼迎上夏季旅行的搜索量增长了60%以上。</blockquote></p><p> The company is also ready for more customers to use Airbnb for longer-term stays as they take advantage of greater acceptance of remote work. It said that nearly a quarter of stays last quarter were for 28 days or more, up 14% from 2019. Shares are down slightly in premarket trading.</p><p><blockquote>该公司还准备让更多客户使用爱彼迎进行长期住宿，因为他们利用了远程工作的更大接受度。该公司表示，上季度近四分之一的停留时间为28天或以上，比2019年增长了14%。股价在盘前交易中小幅下跌。</blockquote></p><p> DoorDash: People are still ordering lots of food delivery even as restaurants open back up for traditional dining. DoorDash reported a 198% jump in revenue last quarter to $1.1 billion even as it dealt with a shortage of workers, and increased its full-year outlook.</p><p><blockquote>DoorDash：即使餐馆重新开放传统餐饮，人们仍然订购大量外卖。DoorDash报告称，尽管面临工人短缺的问题，上季度收入仍增长198%，达到11亿美元，并上调了全年预期。</blockquote></p><p> \"As markets continued reopening and in-store dining increased across the US, the impact to our order volume was smaller than we expected, which contributed to strong performance in the quarter,\" the company said, though it cautioned that may have been partially attributable to stimulus checks. Shares are up almost 9% in premarket trading.</p><p><blockquote>该公司表示：“随着市场继续重新开放以及美国各地店内餐饮的增加，对我们订单量的影响小于我们的预期，这有助于本季度的强劲业绩。”不过该公司警告说，这可能部分归因于刺激检查。股价在盘前交易中上涨近9%。</blockquote></p><p> Disney: Streaming has carried Disney through the pandemic, with Disney+ growing to more than 100 million subscribers. Yet the biggest star in Disney's media universe appears to be shining a little less bright, sending shares down 4%.</p><p><blockquote>迪士尼：流媒体让迪士尼穿越了疫情，Disney+的订户已经超过1亿。然而，迪士尼媒体领域最大的明星似乎不那么耀眼了，导致股价下跌4%。</blockquote></p><p> The company said Thursday that Disney+ now has 103.6 million subscribers, below the 110 million Wall Street was expecting. That's forced investors to wonder: Is that because people are getting vaccinated and stepping away from streaming? Netflix also reported sluggish subscription growth last quarter.</p><p><blockquote>该公司周四表示，Disney+目前拥有1.036亿订阅用户，低于华尔街预期的1.1亿。这迫使投资者想知道：这是因为人们正在接种疫苗并远离流媒体吗？Netflix上季度的订阅增长也缓慢。</blockquote></p><p> Down but not out: Disney said it remains on track to reach its long-term subscriber goals despite the apparent slowdown. It's betting that as the pandemic eases, it will be able to produce more movies and shows, helping to bring in new customers.</p><p><blockquote>下滑但并未出局：迪士尼表示，尽管经济明显放缓，但仍有望实现其长期订户目标。该公司押注，随着疫情的缓解，它将能够制作更多的电影和节目，帮助吸引新客户。</blockquote></p><p> Whether it's right will become clearer in the months ahead, which will pose the true test of whether people actually ditch their sweatpants, get out of the house and shake up the economy once again.</p><p><blockquote>这是否正确将在未来几个月变得更加清晰，这将是人们是否真的抛弃运动裤、走出家门并再次撼动经济的真正考验。</blockquote></p><p> <b>It could get easier to get a credit card without a credit score</b></p><p><blockquote><b>无需信用评分即可获得信用卡可能会变得更容易</b></blockquote></p><p> For years, if you didn't have a credit score it was extremely difficult to get a credit card or certain types of loans. But a new plan among some of the nation's largest banks may help Americans without traditional credit histories get approved.</p><p><blockquote>多年来，如果你没有信用评分，很难获得信用卡或某些类型的贷款。但美国一些最大银行的一项新计划可能会帮助没有传统信用记录的美国人获得批准。</blockquote></p><p> Ten banks — including JPMorgan Chase (JPM), Wells Fargo (WFC) and U.S. Bancorp (USB) — have tentatively agreed to a plan to share data like bank account deposits and bill payment activity to help qualify borrowers without traditional credit histories, according to the Wall Street Journal.</p><p><blockquote>据报道，包括摩根大通(JPM)、富国银行(WFC)和美国合众银行(USB)在内的十家银行已初步同意一项共享银行账户存款和账单支付活动等数据的计划，以帮助没有传统信用记录的借款人获得资格。华尔街日报。</blockquote></p><p> The push for financial institutions to come to a data sharing agreement came from a program run by the Office of the Comptroller of the Currency. The OCC has confirmed there is a plan, but the details of the agreement among the banks still need to be worked out.</p><p><blockquote>金融机构达成数据共享协议的推动力来自货币监理署运行的一项计划。OCC已确认有一项计划，但银行之间协议的细节仍需制定。</blockquote></p><p> Should the proposed arrangement go through, it would mean that if you don't have a credit score but you have a bank account at Wells Fargo, for example, you can use that financial history to help you get a credit card with another bank, like JPMorgan Chase.</p><p><blockquote>如果拟议的安排获得通过，这将意味着，例如，如果您没有信用评分，但在富国银行拥有银行账户，您可以利用该财务历史记录来帮助您在另一家银行获得信用卡，例如摩根大通。</blockquote></p><p> \"This will give millions of Americans the opportunity to access credit that's essential to building wealth — buying a home, starting a business, or financing education,\" Trish Wexler, a spokesperson for JPMorgan Chase, told CNN Business.</p><p><blockquote>摩根大通发言人特里什·韦克斯勒(Trish Wexler)告诉CNN Business：“这将使数百万美国人有机会获得信贷，这对于积累财富至关重要——买房、创业或资助教育。”</blockquote></p><p> The backstory: There are currently 53 million people without a credit score, according to the Fair Isaac Corporation, the creator of FICO credit scores. These consumers, who are disproportionately lower income and people of color, face higher borrowing costs because they're forced to turn to products like payday loans.</p><p><blockquote>背景故事：根据FICO信用评分的创建者Fair Isaac Corporation的数据，目前有5300万人没有信用评分。这些消费者是不成比例的低收入和有色人种，他们面临更高的借贷成本，因为他们被迫转向发薪日贷款等产品。</blockquote></p><p> Banks and lenders refer to those without credit history as \"credit invisible.\" This group can include young people or recent immigrants, as well as people who haven't used credit in a long time or who have lost their access due to financial difficulties.</p><p><blockquote>银行和贷方将那些没有信用记录的人称为“隐形信用”。这个群体可以包括年轻人或新移民，以及很长时间没有使用信贷或由于经济困难而失去信贷的人。</blockquote></p><p> The business angle: Big banks may also be eager to revise their policies as online upstarts chip away at demand for their products.</p><p><blockquote>商业角度：随着在线新贵削弱对其产品的需求，大银行也可能渴望修改其政策。</blockquote></p><p></p><p> \"Some of this cooperation among the biggest banks may be a bit of reaction to smaller banks and fintech companies infringing on their space,\" said Matt Schulz, chief industry analyst at LendingTree.</p><p><blockquote>LendingTree首席行业分析师马特·舒尔茨(Matt Schulz)表示：“大型银行之间的一些合作可能是对小型银行和金融科技公司侵犯其空间的反应。”</blockquote></p><p> <b>Target will temporarily stop selling trading cards amid frenzy</b></p><p><blockquote><b>Target将在狂热中暂时停止销售交易卡</b></blockquote></p><p> Target (TGT) has announced that it will stop selling trading cards in its stores following a violent dispute at one of its locations — a sign of just how overheated the market for collectibles has become.</p><p><blockquote>塔吉特(TGT)宣布，在其一个门店发生暴力纠纷后，将停止在其商店销售交易卡，这表明收藏品市场已经变得多么过热。</blockquote></p><p> The details: Last week, a Target in Wisconsin was locked down after a man was physically assaulted by four others over sports trading cards.</p><p><blockquote>细节：上周，威斯康星州的一个目标被锁定，此前一名男子因体育交易卡被另外四人殴打。</blockquote></p><p> \"The safety of our guests and our team is our top priority,\" Target said in a statement. \"Out of an abundance of caution, we've decided to temporarily suspend the sale of MLB, NFL, NBA and Pokémon trading cards within our stores, effective [Friday].\"</p><p><blockquote>塔吉特在一份声明中表示：“客人和团队的安全是我们的首要任务。”“出于谨慎，我们决定从[周五]起暂时停止在我们的商店内销售MLB、NFL、NBA和Pokémon交易卡。”</blockquote></p><p> The cards will still be available online, the company said.</p><p><blockquote>该公司表示，这些卡仍将在网上提供。</blockquote></p><p> Remember: The value of trading cards has skyrocketed in recent months during the Covid-19 pandemic. That's grabbed interest from both amateur and professional investors looking to cash in on spectacular returns.</p><p><blockquote>请记住：近几个月来，在Covid-19大流行期间，交易卡的价值飙升。这引起了业余和专业投资者的兴趣，他们希望获得惊人的回报。</blockquote></p><p> Target previously was limiting card purchases to just one item a day, saying that guests were lining up overnight to get their hands on hot items, per CNN affiliate WISN.</p><p><blockquote>据CNN附属机构WISN报道，塔吉特百货此前限制每天只能购买一件商品，称客人会连夜排队购买热门商品。</blockquote></p><p> Walmart (WMT), for its part, said it will keep selling cards in stores for now.</p><p><blockquote>沃尔玛(WMT)则表示，目前将继续在商店销售贺卡。</blockquote></p><p> \"We are determining what, if any, changes are needed to meet customer demand while ensuring a safe and enjoyable shopping experience,\" a spokesperson said in a statement.</p><p><blockquote>一位发言人在一份声明中表示：“我们正在确定需要做出哪些改变（如果有的话），以满足客户需求，同时确保安全、愉快的购物体验。”</blockquote></p><p> <b>Up next</b></p><p><blockquote><b>下一个</b></blockquote></p><p> Data on US retail sales, import and export prices and industrial production arrives at 8:30 a.m. ET.</p><p><blockquote>美国零售销售、进出口价格和工业生产数据将于美国东部时间上午8:30公布。</blockquote></p><p> Coming next week: Home Depot (HD) and Lowe's (LOW) report earnings as the housing market booms.</p><p><blockquote>下周：随着房地产市场的繁荣，家得宝(HD)和劳氏(LOW)公布收益。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/05/14/investing/premarket-stocks-trading/index.html\">CNN</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":{"ABNB":"爱彼迎","DIS":"迪士尼","DASH":"DoorDash, Inc."},"source_url":"https://edition.cnn.com/2021/05/14/investing/premarket-stocks-trading/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1173244066","content_text":"London (CNN Business)Companies are gearing up for an era in which Covid-19 isn't the primary driver of how people spend their money.\nThe big question: As the coronavirus situation improves in countries like the United States, which trends from the past 14 months will have staying power, and which will be resigned to the pandemic past?\nAirbnb, DoorDash and Disney (DIS), which reported results after US markets closed on Thursday, provide some idea.\nAirbnb: The company said interest in travel is surging again as vaccines become more widely available, pointing to a sharp increase in bookings in the United Kingdom immediately after British Prime Minister Boris Johnson announced plans in February to gradually exit lockdown. For US customers aged 60 and above, searches on Airbnb for summer travel rose by more than 60% between February and March.\nThe company is also ready for more customers to use Airbnb for longer-term stays as they take advantage of greater acceptance of remote work. It said that nearly a quarter of stays last quarter were for 28 days or more, up 14% from 2019. Shares are down slightly in premarket trading.\nDoorDash: People are still ordering lots of food delivery even as restaurants open back up for traditional dining. DoorDash reported a 198% jump in revenue last quarter to $1.1 billion even as it dealt with a shortage of workers, and increased its full-year outlook.\n\"As markets continued reopening and in-store dining increased across the US, the impact to our order volume was smaller than we expected, which contributed to strong performance in the quarter,\" the company said, though it cautioned that may have been partially attributable to stimulus checks. Shares are up almost 9% in premarket trading.\nDisney: Streaming has carried Disney through the pandemic, with Disney+ growing to more than 100 million subscribers. Yet the biggest star in Disney's media universe appears to be shining a little less bright, sending shares down 4%.\nThe company said Thursday that Disney+ now has 103.6 million subscribers, below the 110 million Wall Street was expecting. That's forced investors to wonder: Is that because people are getting vaccinated and stepping away from streaming? Netflix also reported sluggish subscription growth last quarter.\nDown but not out: Disney said it remains on track to reach its long-term subscriber goals despite the apparent slowdown. It's betting that as the pandemic eases, it will be able to produce more movies and shows, helping to bring in new customers.\nWhether it's right will become clearer in the months ahead, which will pose the true test of whether people actually ditch their sweatpants, get out of the house and shake up the economy once again.\nIt could get easier to get a credit card without a credit score\nFor years, if you didn't have a credit score it was extremely difficult to get a credit card or certain types of loans. But a new plan among some of the nation's largest banks may help Americans without traditional credit histories get approved.\nTen banks — including JPMorgan Chase (JPM), Wells Fargo (WFC) and U.S. Bancorp (USB) — have tentatively agreed to a plan to share data like bank account deposits and bill payment activity to help qualify borrowers without traditional credit histories, according to the Wall Street Journal.\nThe push for financial institutions to come to a data sharing agreement came from a program run by the Office of the Comptroller of the Currency. The OCC has confirmed there is a plan, but the details of the agreement among the banks still need to be worked out.\nShould the proposed arrangement go through, it would mean that if you don't have a credit score but you have a bank account at Wells Fargo, for example, you can use that financial history to help you get a credit card with another bank, like JPMorgan Chase.\n\"This will give millions of Americans the opportunity to access credit that's essential to building wealth — buying a home, starting a business, or financing education,\" Trish Wexler, a spokesperson for JPMorgan Chase, told CNN Business.\nThe backstory: There are currently 53 million people without a credit score, according to the Fair Isaac Corporation, the creator of FICO credit scores. These consumers, who are disproportionately lower income and people of color, face higher borrowing costs because they're forced to turn to products like payday loans.\nBanks and lenders refer to those without credit history as \"credit invisible.\" This group can include young people or recent immigrants, as well as people who haven't used credit in a long time or who have lost their access due to financial difficulties.\nThe business angle: Big banks may also be eager to revise their policies as online upstarts chip away at demand for their products.\n\"Some of this cooperation among the biggest banks may be a bit of reaction to smaller banks and fintech companies infringing on their space,\" said Matt Schulz, chief industry analyst at LendingTree.\nTarget will temporarily stop selling trading cards amid frenzy\nTarget (TGT) has announced that it will stop selling trading cards in its stores following a violent dispute at one of its locations — a sign of just how overheated the market for collectibles has become.\nThe details: Last week, a Target in Wisconsin was locked down after a man was physically assaulted by four others over sports trading cards.\n\"The safety of our guests and our team is our top priority,\" Target said in a statement. \"Out of an abundance of caution, we've decided to temporarily suspend the sale of MLB, NFL, NBA and Pokémon trading cards within our stores, effective [Friday].\"\nThe cards will still be available online, the company said.\nRemember: The value of trading cards has skyrocketed in recent months during the Covid-19 pandemic. That's grabbed interest from both amateur and professional investors looking to cash in on spectacular returns.\nTarget previously was limiting card purchases to just one item a day, saying that guests were lining up overnight to get their hands on hot items, per CNN affiliate WISN.\nWalmart (WMT), for its part, said it will keep selling cards in stores for now.\n\"We are determining what, if any, changes are needed to meet customer demand while ensuring a safe and enjoyable shopping experience,\" a spokesperson said in a statement.\nUp next\nData on US retail sales, import and export prices and industrial production arrives at 8:30 a.m. ET.\nComing next week: Home Depot (HD) and Lowe's (LOW) report earnings as the housing market booms.","news_type":1,"symbols_score_info":{"ABNB":0.9,"DASH":0.9,"DIS":0.9}},"isVote":1,"tweetType":1,"viewCount":751,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":196903960,"gmtCreate":1621002663950,"gmtModify":1634194631121,"author":{"id":"3565951516983876","authorId":"3565951516983876","name":"Whyandwhynot","avatar":"https://static.tigerbbs.com/1c1b86e70178e57c45cdafdbcce886c6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565951516983876","idStr":"3565951516983876"},"themes":[],"htmlText":"The celebrity CEO with a cannon mouth…. Hahaha&nbsp;","listText":"The celebrity CEO with a cannon mouth…. Hahaha&nbsp;","text":"The celebrity CEO with a cannon mouth…. Hahaha","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/196903960","repostId":"2135605911","repostType":4,"isVote":1,"tweetType":1,"viewCount":613,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":198587731,"gmtCreate":1620971375123,"gmtModify":1634194854591,"author":{"id":"3565951516983876","authorId":"3565951516983876","name":"Whyandwhynot","avatar":"https://static.tigerbbs.com/1c1b86e70178e57c45cdafdbcce886c6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3565951516983876","idStr":"3565951516983876"},"themes":[],"htmlText":"Sad news....&nbsp;","listText":"Sad news....&nbsp;","text":"Sad news....","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/198587731","repostId":"1182602613","repostType":4,"isVote":1,"tweetType":1,"viewCount":1584,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":196903960,"gmtCreate":1621002663950,"gmtModify":1634194631121,"author":{"id":"3565951516983876","authorId":"3565951516983876","name":"Whyandwhynot","avatar":"https://static.tigerbbs.com/1c1b86e70178e57c45cdafdbcce886c6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3565951516983876","authorIdStr":"3565951516983876"},"themes":[],"htmlText":"The celebrity CEO with a cannon mouth…. Hahaha&nbsp;","listText":"The celebrity CEO with a cannon mouth…. Hahaha&nbsp;","text":"The celebrity CEO with a cannon mouth…. Hahaha","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/196903960","repostId":"2135605911","repostType":4,"isVote":1,"tweetType":1,"viewCount":613,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":196980665,"gmtCreate":1621004739757,"gmtModify":1634194605867,"author":{"id":"3565951516983876","authorId":"3565951516983876","name":"Whyandwhynot","avatar":"https://static.tigerbbs.com/1c1b86e70178e57c45cdafdbcce886c6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3565951516983876","authorIdStr":"3565951516983876"},"themes":[],"htmlText":"Hmm…","listText":"Hmm…","text":"Hmm…","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/196980665","repostId":"1173244066","repostType":4,"repost":{"id":"1173244066","kind":"news","pubTimestamp":1621004086,"share":"https://www.laohu8.com/m/news/1173244066?lang=zh_CN&edition=full","pubTime":"2021-05-14 22:54","market":"us","language":"en","title":"What Disney, Airbnb and DoorDash results reveal about the post-pandemic economy<blockquote>迪士尼、爱彼迎和DoorDash的业绩揭示了大流行后经济的哪些信息</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1173244066","media":"CNN","summary":"London (CNN Business)Companies are gearing up for an era in which Covid-19 isn't the primary driver ","content":"<p>London (CNN Business)Companies are gearing up for an era in which Covid-19 isn't the primary driver of how people spend their money.</p><p><blockquote>伦敦（CNN Business）公司正在为一个新冠肺炎不再是人们花钱的主要驱动力的时代做准备。</blockquote></p><p> The big question: As the coronavirus situation improves in countries like the United States, which trends from the past 14 months will have staying power, and which will be resigned to the pandemic past?</p><p><blockquote>最大的问题是：随着美国等国家冠状病毒情况的改善，过去14个月的哪些趋势将具有持久力，哪些将听天由命于疫情的过去？</blockquote></p><p> Airbnb, DoorDash and Disney (DIS), which reported results after US markets closed on Thursday, provide some idea.</p><p><blockquote>爱彼迎、DoorDash和迪士尼(DIS)在周四美国市场收盘后公布了业绩，这提供了一些思路。</blockquote></p><p> Airbnb: The company said interest in travel is surging again as vaccines become more widely available, pointing to a sharp increase in bookings in the United Kingdom immediately after British Prime Minister Boris Johnson announced plans in February to gradually exit lockdown. For US customers aged 60 and above, searches on Airbnb for summer travel rose by more than 60% between February and March.</p><p><blockquote>爱彼迎：该公司表示，随着疫苗变得更加广泛，人们对旅行的兴趣再次激增，并指出在英国首相Boris Johnson在2月份宣布逐步解除封锁的计划后，英国的预订量立即急剧增加。对于60岁及以上的美国客户来说，2月至3月期间，爱彼迎上夏季旅行的搜索量增长了60%以上。</blockquote></p><p> The company is also ready for more customers to use Airbnb for longer-term stays as they take advantage of greater acceptance of remote work. It said that nearly a quarter of stays last quarter were for 28 days or more, up 14% from 2019. Shares are down slightly in premarket trading.</p><p><blockquote>该公司还准备让更多客户使用爱彼迎进行长期住宿，因为他们利用了远程工作的更大接受度。该公司表示，上季度近四分之一的停留时间为28天或以上，比2019年增长了14%。股价在盘前交易中小幅下跌。</blockquote></p><p> DoorDash: People are still ordering lots of food delivery even as restaurants open back up for traditional dining. DoorDash reported a 198% jump in revenue last quarter to $1.1 billion even as it dealt with a shortage of workers, and increased its full-year outlook.</p><p><blockquote>DoorDash：即使餐馆重新开放传统餐饮，人们仍然订购大量外卖。DoorDash报告称，尽管面临工人短缺的问题，上季度收入仍增长198%，达到11亿美元，并上调了全年预期。</blockquote></p><p> \"As markets continued reopening and in-store dining increased across the US, the impact to our order volume was smaller than we expected, which contributed to strong performance in the quarter,\" the company said, though it cautioned that may have been partially attributable to stimulus checks. Shares are up almost 9% in premarket trading.</p><p><blockquote>该公司表示：“随着市场继续重新开放以及美国各地店内餐饮的增加，对我们订单量的影响小于我们的预期，这有助于本季度的强劲业绩。”不过该公司警告说，这可能部分归因于刺激检查。股价在盘前交易中上涨近9%。</blockquote></p><p> Disney: Streaming has carried Disney through the pandemic, with Disney+ growing to more than 100 million subscribers. Yet the biggest star in Disney's media universe appears to be shining a little less bright, sending shares down 4%.</p><p><blockquote>迪士尼：流媒体让迪士尼穿越了疫情，Disney+的订户已经超过1亿。然而，迪士尼媒体领域最大的明星似乎不那么耀眼了，导致股价下跌4%。</blockquote></p><p> The company said Thursday that Disney+ now has 103.6 million subscribers, below the 110 million Wall Street was expecting. That's forced investors to wonder: Is that because people are getting vaccinated and stepping away from streaming? Netflix also reported sluggish subscription growth last quarter.</p><p><blockquote>该公司周四表示，Disney+目前拥有1.036亿订阅用户，低于华尔街预期的1.1亿。这迫使投资者想知道：这是因为人们正在接种疫苗并远离流媒体吗？Netflix上季度的订阅增长也缓慢。</blockquote></p><p> Down but not out: Disney said it remains on track to reach its long-term subscriber goals despite the apparent slowdown. It's betting that as the pandemic eases, it will be able to produce more movies and shows, helping to bring in new customers.</p><p><blockquote>下滑但并未出局：迪士尼表示，尽管经济明显放缓，但仍有望实现其长期订户目标。该公司押注，随着疫情的缓解，它将能够制作更多的电影和节目，帮助吸引新客户。</blockquote></p><p> Whether it's right will become clearer in the months ahead, which will pose the true test of whether people actually ditch their sweatpants, get out of the house and shake up the economy once again.</p><p><blockquote>这是否正确将在未来几个月变得更加清晰，这将是人们是否真的抛弃运动裤、走出家门并再次撼动经济的真正考验。</blockquote></p><p> <b>It could get easier to get a credit card without a credit score</b></p><p><blockquote><b>无需信用评分即可获得信用卡可能会变得更容易</b></blockquote></p><p> For years, if you didn't have a credit score it was extremely difficult to get a credit card or certain types of loans. But a new plan among some of the nation's largest banks may help Americans without traditional credit histories get approved.</p><p><blockquote>多年来，如果你没有信用评分，很难获得信用卡或某些类型的贷款。但美国一些最大银行的一项新计划可能会帮助没有传统信用记录的美国人获得批准。</blockquote></p><p> Ten banks — including JPMorgan Chase (JPM), Wells Fargo (WFC) and U.S. Bancorp (USB) — have tentatively agreed to a plan to share data like bank account deposits and bill payment activity to help qualify borrowers without traditional credit histories, according to the Wall Street Journal.</p><p><blockquote>据报道，包括摩根大通(JPM)、富国银行(WFC)和美国合众银行(USB)在内的十家银行已初步同意一项共享银行账户存款和账单支付活动等数据的计划，以帮助没有传统信用记录的借款人获得资格。华尔街日报。</blockquote></p><p> The push for financial institutions to come to a data sharing agreement came from a program run by the Office of the Comptroller of the Currency. The OCC has confirmed there is a plan, but the details of the agreement among the banks still need to be worked out.</p><p><blockquote>金融机构达成数据共享协议的推动力来自货币监理署运行的一项计划。OCC已确认有一项计划，但银行之间协议的细节仍需制定。</blockquote></p><p> Should the proposed arrangement go through, it would mean that if you don't have a credit score but you have a bank account at Wells Fargo, for example, you can use that financial history to help you get a credit card with another bank, like JPMorgan Chase.</p><p><blockquote>如果拟议的安排获得通过，这将意味着，例如，如果您没有信用评分，但在富国银行拥有银行账户，您可以利用该财务历史记录来帮助您在另一家银行获得信用卡，例如摩根大通。</blockquote></p><p> \"This will give millions of Americans the opportunity to access credit that's essential to building wealth — buying a home, starting a business, or financing education,\" Trish Wexler, a spokesperson for JPMorgan Chase, told CNN Business.</p><p><blockquote>摩根大通发言人特里什·韦克斯勒(Trish Wexler)告诉CNN Business：“这将使数百万美国人有机会获得信贷，这对于积累财富至关重要——买房、创业或资助教育。”</blockquote></p><p> The backstory: There are currently 53 million people without a credit score, according to the Fair Isaac Corporation, the creator of FICO credit scores. These consumers, who are disproportionately lower income and people of color, face higher borrowing costs because they're forced to turn to products like payday loans.</p><p><blockquote>背景故事：根据FICO信用评分的创建者Fair Isaac Corporation的数据，目前有5300万人没有信用评分。这些消费者是不成比例的低收入和有色人种，他们面临更高的借贷成本，因为他们被迫转向发薪日贷款等产品。</blockquote></p><p> Banks and lenders refer to those without credit history as \"credit invisible.\" This group can include young people or recent immigrants, as well as people who haven't used credit in a long time or who have lost their access due to financial difficulties.</p><p><blockquote>银行和贷方将那些没有信用记录的人称为“隐形信用”。这个群体可以包括年轻人或新移民，以及很长时间没有使用信贷或由于经济困难而失去信贷的人。</blockquote></p><p> The business angle: Big banks may also be eager to revise their policies as online upstarts chip away at demand for their products.</p><p><blockquote>商业角度：随着在线新贵削弱对其产品的需求，大银行也可能渴望修改其政策。</blockquote></p><p></p><p> \"Some of this cooperation among the biggest banks may be a bit of reaction to smaller banks and fintech companies infringing on their space,\" said Matt Schulz, chief industry analyst at LendingTree.</p><p><blockquote>LendingTree首席行业分析师马特·舒尔茨(Matt Schulz)表示：“大型银行之间的一些合作可能是对小型银行和金融科技公司侵犯其空间的反应。”</blockquote></p><p> <b>Target will temporarily stop selling trading cards amid frenzy</b></p><p><blockquote><b>Target将在狂热中暂时停止销售交易卡</b></blockquote></p><p> Target (TGT) has announced that it will stop selling trading cards in its stores following a violent dispute at one of its locations — a sign of just how overheated the market for collectibles has become.</p><p><blockquote>塔吉特(TGT)宣布，在其一个门店发生暴力纠纷后，将停止在其商店销售交易卡，这表明收藏品市场已经变得多么过热。</blockquote></p><p> The details: Last week, a Target in Wisconsin was locked down after a man was physically assaulted by four others over sports trading cards.</p><p><blockquote>细节：上周，威斯康星州的一个目标被锁定，此前一名男子因体育交易卡被另外四人殴打。</blockquote></p><p> \"The safety of our guests and our team is our top priority,\" Target said in a statement. \"Out of an abundance of caution, we've decided to temporarily suspend the sale of MLB, NFL, NBA and Pokémon trading cards within our stores, effective [Friday].\"</p><p><blockquote>塔吉特在一份声明中表示：“客人和团队的安全是我们的首要任务。”“出于谨慎，我们决定从[周五]起暂时停止在我们的商店内销售MLB、NFL、NBA和Pokémon交易卡。”</blockquote></p><p> The cards will still be available online, the company said.</p><p><blockquote>该公司表示，这些卡仍将在网上提供。</blockquote></p><p> Remember: The value of trading cards has skyrocketed in recent months during the Covid-19 pandemic. That's grabbed interest from both amateur and professional investors looking to cash in on spectacular returns.</p><p><blockquote>请记住：近几个月来，在Covid-19大流行期间，交易卡的价值飙升。这引起了业余和专业投资者的兴趣，他们希望获得惊人的回报。</blockquote></p><p> Target previously was limiting card purchases to just one item a day, saying that guests were lining up overnight to get their hands on hot items, per CNN affiliate WISN.</p><p><blockquote>据CNN附属机构WISN报道，塔吉特百货此前限制每天只能购买一件商品，称客人会连夜排队购买热门商品。</blockquote></p><p> Walmart (WMT), for its part, said it will keep selling cards in stores for now.</p><p><blockquote>沃尔玛(WMT)则表示，目前将继续在商店销售贺卡。</blockquote></p><p> \"We are determining what, if any, changes are needed to meet customer demand while ensuring a safe and enjoyable shopping experience,\" a spokesperson said in a statement.</p><p><blockquote>一位发言人在一份声明中表示：“我们正在确定需要做出哪些改变（如果有的话），以满足客户需求，同时确保安全、愉快的购物体验。”</blockquote></p><p> <b>Up next</b></p><p><blockquote><b>下一个</b></blockquote></p><p> Data on US retail sales, import and export prices and industrial production arrives at 8:30 a.m. ET.</p><p><blockquote>美国零售销售、进出口价格和工业生产数据将于美国东部时间上午8:30公布。</blockquote></p><p> Coming next week: Home Depot (HD) and Lowe's (LOW) report earnings as the housing market booms.</p><p><blockquote>下周：随着房地产市场的繁荣，家得宝(HD)和劳氏(LOW)公布收益。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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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\">\nWhat Disney, Airbnb and DoorDash results reveal about the post-pandemic economy<blockquote>迪士尼、爱彼迎和DoorDash的业绩揭示了大流行后经济的哪些信息</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">CNN</strong><span class=\"h-time small\">2021-05-14 22:54</span>\n</p>\n</h4>\n</header>\n<article>\n<p>London (CNN Business)Companies are gearing up for an era in which Covid-19 isn't the primary driver of how people spend their money.</p><p><blockquote>伦敦（CNN Business）公司正在为一个新冠肺炎不再是人们花钱的主要驱动力的时代做准备。</blockquote></p><p> The big question: As the coronavirus situation improves in countries like the United States, which trends from the past 14 months will have staying power, and which will be resigned to the pandemic past?</p><p><blockquote>最大的问题是：随着美国等国家冠状病毒情况的改善，过去14个月的哪些趋势将具有持久力，哪些将听天由命于疫情的过去？</blockquote></p><p> Airbnb, DoorDash and Disney (DIS), which reported results after US markets closed on Thursday, provide some idea.</p><p><blockquote>爱彼迎、DoorDash和迪士尼(DIS)在周四美国市场收盘后公布了业绩，这提供了一些思路。</blockquote></p><p> Airbnb: The company said interest in travel is surging again as vaccines become more widely available, pointing to a sharp increase in bookings in the United Kingdom immediately after British Prime Minister Boris Johnson announced plans in February to gradually exit lockdown. For US customers aged 60 and above, searches on Airbnb for summer travel rose by more than 60% between February and March.</p><p><blockquote>爱彼迎：该公司表示，随着疫苗变得更加广泛，人们对旅行的兴趣再次激增，并指出在英国首相Boris Johnson在2月份宣布逐步解除封锁的计划后，英国的预订量立即急剧增加。对于60岁及以上的美国客户来说，2月至3月期间，爱彼迎上夏季旅行的搜索量增长了60%以上。</blockquote></p><p> The company is also ready for more customers to use Airbnb for longer-term stays as they take advantage of greater acceptance of remote work. It said that nearly a quarter of stays last quarter were for 28 days or more, up 14% from 2019. Shares are down slightly in premarket trading.</p><p><blockquote>该公司还准备让更多客户使用爱彼迎进行长期住宿，因为他们利用了远程工作的更大接受度。该公司表示，上季度近四分之一的停留时间为28天或以上，比2019年增长了14%。股价在盘前交易中小幅下跌。</blockquote></p><p> DoorDash: People are still ordering lots of food delivery even as restaurants open back up for traditional dining. DoorDash reported a 198% jump in revenue last quarter to $1.1 billion even as it dealt with a shortage of workers, and increased its full-year outlook.</p><p><blockquote>DoorDash：即使餐馆重新开放传统餐饮，人们仍然订购大量外卖。DoorDash报告称，尽管面临工人短缺的问题，上季度收入仍增长198%，达到11亿美元，并上调了全年预期。</blockquote></p><p> \"As markets continued reopening and in-store dining increased across the US, the impact to our order volume was smaller than we expected, which contributed to strong performance in the quarter,\" the company said, though it cautioned that may have been partially attributable to stimulus checks. Shares are up almost 9% in premarket trading.</p><p><blockquote>该公司表示：“随着市场继续重新开放以及美国各地店内餐饮的增加，对我们订单量的影响小于我们的预期，这有助于本季度的强劲业绩。”不过该公司警告说，这可能部分归因于刺激检查。股价在盘前交易中上涨近9%。</blockquote></p><p> Disney: Streaming has carried Disney through the pandemic, with Disney+ growing to more than 100 million subscribers. Yet the biggest star in Disney's media universe appears to be shining a little less bright, sending shares down 4%.</p><p><blockquote>迪士尼：流媒体让迪士尼穿越了疫情，Disney+的订户已经超过1亿。然而，迪士尼媒体领域最大的明星似乎不那么耀眼了，导致股价下跌4%。</blockquote></p><p> The company said Thursday that Disney+ now has 103.6 million subscribers, below the 110 million Wall Street was expecting. That's forced investors to wonder: Is that because people are getting vaccinated and stepping away from streaming? Netflix also reported sluggish subscription growth last quarter.</p><p><blockquote>该公司周四表示，Disney+目前拥有1.036亿订阅用户，低于华尔街预期的1.1亿。这迫使投资者想知道：这是因为人们正在接种疫苗并远离流媒体吗？Netflix上季度的订阅增长也缓慢。</blockquote></p><p> Down but not out: Disney said it remains on track to reach its long-term subscriber goals despite the apparent slowdown. It's betting that as the pandemic eases, it will be able to produce more movies and shows, helping to bring in new customers.</p><p><blockquote>下滑但并未出局：迪士尼表示，尽管经济明显放缓，但仍有望实现其长期订户目标。该公司押注，随着疫情的缓解，它将能够制作更多的电影和节目，帮助吸引新客户。</blockquote></p><p> Whether it's right will become clearer in the months ahead, which will pose the true test of whether people actually ditch their sweatpants, get out of the house and shake up the economy once again.</p><p><blockquote>这是否正确将在未来几个月变得更加清晰，这将是人们是否真的抛弃运动裤、走出家门并再次撼动经济的真正考验。</blockquote></p><p> <b>It could get easier to get a credit card without a credit score</b></p><p><blockquote><b>无需信用评分即可获得信用卡可能会变得更容易</b></blockquote></p><p> For years, if you didn't have a credit score it was extremely difficult to get a credit card or certain types of loans. But a new plan among some of the nation's largest banks may help Americans without traditional credit histories get approved.</p><p><blockquote>多年来，如果你没有信用评分，很难获得信用卡或某些类型的贷款。但美国一些最大银行的一项新计划可能会帮助没有传统信用记录的美国人获得批准。</blockquote></p><p> Ten banks — including JPMorgan Chase (JPM), Wells Fargo (WFC) and U.S. Bancorp (USB) — have tentatively agreed to a plan to share data like bank account deposits and bill payment activity to help qualify borrowers without traditional credit histories, according to the Wall Street Journal.</p><p><blockquote>据报道，包括摩根大通(JPM)、富国银行(WFC)和美国合众银行(USB)在内的十家银行已初步同意一项共享银行账户存款和账单支付活动等数据的计划，以帮助没有传统信用记录的借款人获得资格。华尔街日报。</blockquote></p><p> The push for financial institutions to come to a data sharing agreement came from a program run by the Office of the Comptroller of the Currency. The OCC has confirmed there is a plan, but the details of the agreement among the banks still need to be worked out.</p><p><blockquote>金融机构达成数据共享协议的推动力来自货币监理署运行的一项计划。OCC已确认有一项计划，但银行之间协议的细节仍需制定。</blockquote></p><p> Should the proposed arrangement go through, it would mean that if you don't have a credit score but you have a bank account at Wells Fargo, for example, you can use that financial history to help you get a credit card with another bank, like JPMorgan Chase.</p><p><blockquote>如果拟议的安排获得通过，这将意味着，例如，如果您没有信用评分，但在富国银行拥有银行账户，您可以利用该财务历史记录来帮助您在另一家银行获得信用卡，例如摩根大通。</blockquote></p><p> \"This will give millions of Americans the opportunity to access credit that's essential to building wealth — buying a home, starting a business, or financing education,\" Trish Wexler, a spokesperson for JPMorgan Chase, told CNN Business.</p><p><blockquote>摩根大通发言人特里什·韦克斯勒(Trish Wexler)告诉CNN Business：“这将使数百万美国人有机会获得信贷，这对于积累财富至关重要——买房、创业或资助教育。”</blockquote></p><p> The backstory: There are currently 53 million people without a credit score, according to the Fair Isaac Corporation, the creator of FICO credit scores. These consumers, who are disproportionately lower income and people of color, face higher borrowing costs because they're forced to turn to products like payday loans.</p><p><blockquote>背景故事：根据FICO信用评分的创建者Fair Isaac Corporation的数据，目前有5300万人没有信用评分。这些消费者是不成比例的低收入和有色人种，他们面临更高的借贷成本，因为他们被迫转向发薪日贷款等产品。</blockquote></p><p> Banks and lenders refer to those without credit history as \"credit invisible.\" This group can include young people or recent immigrants, as well as people who haven't used credit in a long time or who have lost their access due to financial difficulties.</p><p><blockquote>银行和贷方将那些没有信用记录的人称为“隐形信用”。这个群体可以包括年轻人或新移民，以及很长时间没有使用信贷或由于经济困难而失去信贷的人。</blockquote></p><p> The business angle: Big banks may also be eager to revise their policies as online upstarts chip away at demand for their products.</p><p><blockquote>商业角度：随着在线新贵削弱对其产品的需求，大银行也可能渴望修改其政策。</blockquote></p><p></p><p> \"Some of this cooperation among the biggest banks may be a bit of reaction to smaller banks and fintech companies infringing on their space,\" said Matt Schulz, chief industry analyst at LendingTree.</p><p><blockquote>LendingTree首席行业分析师马特·舒尔茨(Matt Schulz)表示：“大型银行之间的一些合作可能是对小型银行和金融科技公司侵犯其空间的反应。”</blockquote></p><p> <b>Target will temporarily stop selling trading cards amid frenzy</b></p><p><blockquote><b>Target将在狂热中暂时停止销售交易卡</b></blockquote></p><p> Target (TGT) has announced that it will stop selling trading cards in its stores following a violent dispute at one of its locations — a sign of just how overheated the market for collectibles has become.</p><p><blockquote>塔吉特(TGT)宣布，在其一个门店发生暴力纠纷后，将停止在其商店销售交易卡，这表明收藏品市场已经变得多么过热。</blockquote></p><p> The details: Last week, a Target in Wisconsin was locked down after a man was physically assaulted by four others over sports trading cards.</p><p><blockquote>细节：上周，威斯康星州的一个目标被锁定，此前一名男子因体育交易卡被另外四人殴打。</blockquote></p><p> \"The safety of our guests and our team is our top priority,\" Target said in a statement. \"Out of an abundance of caution, we've decided to temporarily suspend the sale of MLB, NFL, NBA and Pokémon trading cards within our stores, effective [Friday].\"</p><p><blockquote>塔吉特在一份声明中表示：“客人和团队的安全是我们的首要任务。”“出于谨慎，我们决定从[周五]起暂时停止在我们的商店内销售MLB、NFL、NBA和Pokémon交易卡。”</blockquote></p><p> The cards will still be available online, the company said.</p><p><blockquote>该公司表示，这些卡仍将在网上提供。</blockquote></p><p> Remember: The value of trading cards has skyrocketed in recent months during the Covid-19 pandemic. That's grabbed interest from both amateur and professional investors looking to cash in on spectacular returns.</p><p><blockquote>请记住：近几个月来，在Covid-19大流行期间，交易卡的价值飙升。这引起了业余和专业投资者的兴趣，他们希望获得惊人的回报。</blockquote></p><p> Target previously was limiting card purchases to just one item a day, saying that guests were lining up overnight to get their hands on hot items, per CNN affiliate WISN.</p><p><blockquote>据CNN附属机构WISN报道，塔吉特百货此前限制每天只能购买一件商品，称客人会连夜排队购买热门商品。</blockquote></p><p> Walmart (WMT), for its part, said it will keep selling cards in stores for now.</p><p><blockquote>沃尔玛(WMT)则表示，目前将继续在商店销售贺卡。</blockquote></p><p> \"We are determining what, if any, changes are needed to meet customer demand while ensuring a safe and enjoyable shopping experience,\" a spokesperson said in a statement.</p><p><blockquote>一位发言人在一份声明中表示：“我们正在确定需要做出哪些改变（如果有的话），以满足客户需求，同时确保安全、愉快的购物体验。”</blockquote></p><p> <b>Up next</b></p><p><blockquote><b>下一个</b></blockquote></p><p> Data on US retail sales, import and export prices and industrial production arrives at 8:30 a.m. ET.</p><p><blockquote>美国零售销售、进出口价格和工业生产数据将于美国东部时间上午8:30公布。</blockquote></p><p> Coming next week: Home Depot (HD) and Lowe's (LOW) report earnings as the housing market booms.</p><p><blockquote>下周：随着房地产市场的繁荣，家得宝(HD)和劳氏(LOW)公布收益。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/05/14/investing/premarket-stocks-trading/index.html\">CNN</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":{"ABNB":"爱彼迎","DIS":"迪士尼","DASH":"DoorDash, Inc."},"source_url":"https://edition.cnn.com/2021/05/14/investing/premarket-stocks-trading/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1173244066","content_text":"London (CNN Business)Companies are gearing up for an era in which Covid-19 isn't the primary driver of how people spend their money.\nThe big question: As the coronavirus situation improves in countries like the United States, which trends from the past 14 months will have staying power, and which will be resigned to the pandemic past?\nAirbnb, DoorDash and Disney (DIS), which reported results after US markets closed on Thursday, provide some idea.\nAirbnb: The company said interest in travel is surging again as vaccines become more widely available, pointing to a sharp increase in bookings in the United Kingdom immediately after British Prime Minister Boris Johnson announced plans in February to gradually exit lockdown. For US customers aged 60 and above, searches on Airbnb for summer travel rose by more than 60% between February and March.\nThe company is also ready for more customers to use Airbnb for longer-term stays as they take advantage of greater acceptance of remote work. It said that nearly a quarter of stays last quarter were for 28 days or more, up 14% from 2019. Shares are down slightly in premarket trading.\nDoorDash: People are still ordering lots of food delivery even as restaurants open back up for traditional dining. DoorDash reported a 198% jump in revenue last quarter to $1.1 billion even as it dealt with a shortage of workers, and increased its full-year outlook.\n\"As markets continued reopening and in-store dining increased across the US, the impact to our order volume was smaller than we expected, which contributed to strong performance in the quarter,\" the company said, though it cautioned that may have been partially attributable to stimulus checks. Shares are up almost 9% in premarket trading.\nDisney: Streaming has carried Disney through the pandemic, with Disney+ growing to more than 100 million subscribers. Yet the biggest star in Disney's media universe appears to be shining a little less bright, sending shares down 4%.\nThe company said Thursday that Disney+ now has 103.6 million subscribers, below the 110 million Wall Street was expecting. That's forced investors to wonder: Is that because people are getting vaccinated and stepping away from streaming? Netflix also reported sluggish subscription growth last quarter.\nDown but not out: Disney said it remains on track to reach its long-term subscriber goals despite the apparent slowdown. It's betting that as the pandemic eases, it will be able to produce more movies and shows, helping to bring in new customers.\nWhether it's right will become clearer in the months ahead, which will pose the true test of whether people actually ditch their sweatpants, get out of the house and shake up the economy once again.\nIt could get easier to get a credit card without a credit score\nFor years, if you didn't have a credit score it was extremely difficult to get a credit card or certain types of loans. But a new plan among some of the nation's largest banks may help Americans without traditional credit histories get approved.\nTen banks — including JPMorgan Chase (JPM), Wells Fargo (WFC) and U.S. Bancorp (USB) — have tentatively agreed to a plan to share data like bank account deposits and bill payment activity to help qualify borrowers without traditional credit histories, according to the Wall Street Journal.\nThe push for financial institutions to come to a data sharing agreement came from a program run by the Office of the Comptroller of the Currency. The OCC has confirmed there is a plan, but the details of the agreement among the banks still need to be worked out.\nShould the proposed arrangement go through, it would mean that if you don't have a credit score but you have a bank account at Wells Fargo, for example, you can use that financial history to help you get a credit card with another bank, like JPMorgan Chase.\n\"This will give millions of Americans the opportunity to access credit that's essential to building wealth — buying a home, starting a business, or financing education,\" Trish Wexler, a spokesperson for JPMorgan Chase, told CNN Business.\nThe backstory: There are currently 53 million people without a credit score, according to the Fair Isaac Corporation, the creator of FICO credit scores. These consumers, who are disproportionately lower income and people of color, face higher borrowing costs because they're forced to turn to products like payday loans.\nBanks and lenders refer to those without credit history as \"credit invisible.\" This group can include young people or recent immigrants, as well as people who haven't used credit in a long time or who have lost their access due to financial difficulties.\nThe business angle: Big banks may also be eager to revise their policies as online upstarts chip away at demand for their products.\n\"Some of this cooperation among the biggest banks may be a bit of reaction to smaller banks and fintech companies infringing on their space,\" said Matt Schulz, chief industry analyst at LendingTree.\nTarget will temporarily stop selling trading cards amid frenzy\nTarget (TGT) has announced that it will stop selling trading cards in its stores following a violent dispute at one of its locations — a sign of just how overheated the market for collectibles has become.\nThe details: Last week, a Target in Wisconsin was locked down after a man was physically assaulted by four others over sports trading cards.\n\"The safety of our guests and our team is our top priority,\" Target said in a statement. \"Out of an abundance of caution, we've decided to temporarily suspend the sale of MLB, NFL, NBA and Pokémon trading cards within our stores, effective [Friday].\"\nThe cards will still be available online, the company said.\nRemember: The value of trading cards has skyrocketed in recent months during the Covid-19 pandemic. That's grabbed interest from both amateur and professional investors looking to cash in on spectacular returns.\nTarget previously was limiting card purchases to just one item a day, saying that guests were lining up overnight to get their hands on hot items, per CNN affiliate WISN.\nWalmart (WMT), for its part, said it will keep selling cards in stores for now.\n\"We are determining what, if any, changes are needed to meet customer demand while ensuring a safe and enjoyable shopping experience,\" a spokesperson said in a statement.\nUp next\nData on US retail sales, import and export prices and industrial production arrives at 8:30 a.m. ET.\nComing next week: Home Depot (HD) and Lowe's (LOW) report earnings as the housing market booms.","news_type":1,"symbols_score_info":{"ABNB":0.9,"DASH":0.9,"DIS":0.9}},"isVote":1,"tweetType":1,"viewCount":751,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172668305,"gmtCreate":1626959421207,"gmtModify":1633769386085,"author":{"id":"3565951516983876","authorId":"3565951516983876","name":"Whyandwhynot","avatar":"https://static.tigerbbs.com/1c1b86e70178e57c45cdafdbcce886c6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3565951516983876","authorIdStr":"3565951516983876"},"themes":[],"htmlText":"Like and comment please&nbsp;","listText":"Like and comment please&nbsp;","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/172668305","repostId":"1149385054","repostType":4,"repost":{"id":"1149385054","kind":"news","pubTimestamp":1626945470,"share":"https://www.laohu8.com/m/news/1149385054?lang=zh_CN&edition=full","pubTime":"2021-07-22 17:17","market":"us","language":"en","title":"Why Nvidia Stock Jumped Wednesday<blockquote>为什么英伟达股价周三上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1149385054","media":"Motley Fool","summary":"After a short pullback following Nvidia's recent stock split, investors went right back to bidding u","content":"<p>  After a short pullback following Nvidia's recent stock split, investors went right back to bidding up the tech titan's shares.  <b>What happened</b></p><p><blockquote>在英伟达最近的股票分割后短暂回调后，投资者立即重新抬高这家科技巨头的股价。<b>发生了什么</b></blockquote></p><p> <b><a href=\"https://laohu8.com/S/NVDA\">NVIDIA Corp</a></b> climbed 4.3% on Wednesday, following its 4-for-1 stock split on Tuesday.</p><p><blockquote><b><a href=\"https://laohu8.com/S/NVDA\">英伟达公司</a></b>继周二进行4比1的股票分割后，周三上涨4.3%。</blockquote></p><p> <b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p> Stock splitsdon't change the fundamental value of a business. A 4-for-1 split is in many ways like exchanging a $1 bill for four quarters. The total value is the same; it's just divided into more pieces.</p><p><blockquote>股票分割不会改变企业的基本价值。4比1的分割在很多方面就像用一张1美元的钞票兑换四个季度。总值相同；只是被分成了更多的碎片。</blockquote></p><p> Nevertheless, traders do tend to get excited about stock splits, and this can positively impact a stock's price leading up to the split. After the split occurs, however, traders often take the opportunity to book short-term profits. And many investors, who are now in possession of more shares, use it as a chance to sell part of their holdings and book some long-term profits.</p><p><blockquote>尽管如此，交易者确实倾向于对股票分割感到兴奋，这可能会对股票分割前的价格产生积极影响。然而，在分割发生后，交易者通常会趁机获利。许多现在持有更多股票的投资者利用这一机会出售部分持股并获得一些长期利润。</blockquote></p><p> These short-term price dynamics appeared to impact Nvidia's stock in recent weeks. Its share price rose 25% from when it announced its stock split on May 21 until July 19. And after the split took place on July 20, Nvidia's shares fell as much as 3.5% before ending the day down about 1%.</p><p><blockquote>最近几周，这些短期价格动态似乎影响了英伟达的股票。从5月21日宣布股票分割到7月19日，其股价上涨了25%。7月20日分拆后，英伟达股价一度下跌3.5%，最终下跌约1%。</blockquote></p><p> <b>Now what</b></p><p><blockquote><b>现在怎么办</b></blockquote></p><p> Now that the split has occurred, investors appear to be focusing on Nvidia's fundamental growth drivers once again. And in this regard, Nvidia's future appears bright. Rising demand for its chips in booming markets, such as data centers and gaming, are driving sharp increases in revenue and profits. With this likely to remain the case for the foreseeable future, Wednesday's gains could be just part of a far larger upward move for Nvidia's share price in the coming years.</p><p><blockquote>既然分拆已经发生，投资者似乎再次关注英伟达的基本增长动力。而在这方面，英伟达的未来显得一片光明。数据中心和游戏等蓬勃发展的市场对其芯片的需求不断增长，推动了收入和利润的大幅增长。在可预见的未来，这种情况可能会持续下去，周三的上涨可能只是英伟达股价未来几年更大上涨的一部分。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Nvidia Stock Jumped Wednesday<blockquote>为什么英伟达股价周三上涨</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\">\nWhy Nvidia Stock Jumped Wednesday<blockquote>为什么英伟达股价周三上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-07-22 17:17</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  After a short pullback following Nvidia's recent stock split, investors went right back to bidding up the tech titan's shares.  <b>What happened</b></p><p><blockquote>在英伟达最近的股票分割后短暂回调后，投资者立即重新抬高这家科技巨头的股价。<b>发生了什么</b></blockquote></p><p> <b><a href=\"https://laohu8.com/S/NVDA\">NVIDIA Corp</a></b> climbed 4.3% on Wednesday, following its 4-for-1 stock split on Tuesday.</p><p><blockquote><b><a href=\"https://laohu8.com/S/NVDA\">英伟达公司</a></b>继周二进行4比1的股票分割后，周三上涨4.3%。</blockquote></p><p> <b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p> Stock splitsdon't change the fundamental value of a business. A 4-for-1 split is in many ways like exchanging a $1 bill for four quarters. The total value is the same; it's just divided into more pieces.</p><p><blockquote>股票分割不会改变企业的基本价值。4比1的分割在很多方面就像用一张1美元的钞票兑换四个季度。总值相同；只是被分成了更多的碎片。</blockquote></p><p> Nevertheless, traders do tend to get excited about stock splits, and this can positively impact a stock's price leading up to the split. After the split occurs, however, traders often take the opportunity to book short-term profits. And many investors, who are now in possession of more shares, use it as a chance to sell part of their holdings and book some long-term profits.</p><p><blockquote>尽管如此，交易者确实倾向于对股票分割感到兴奋，这可能会对股票分割前的价格产生积极影响。然而，在分割发生后，交易者通常会趁机获利。许多现在持有更多股票的投资者利用这一机会出售部分持股并获得一些长期利润。</blockquote></p><p> These short-term price dynamics appeared to impact Nvidia's stock in recent weeks. Its share price rose 25% from when it announced its stock split on May 21 until July 19. And after the split took place on July 20, Nvidia's shares fell as much as 3.5% before ending the day down about 1%.</p><p><blockquote>最近几周，这些短期价格动态似乎影响了英伟达的股票。从5月21日宣布股票分割到7月19日，其股价上涨了25%。7月20日分拆后，英伟达股价一度下跌3.5%，最终下跌约1%。</blockquote></p><p> <b>Now what</b></p><p><blockquote><b>现在怎么办</b></blockquote></p><p> Now that the split has occurred, investors appear to be focusing on Nvidia's fundamental growth drivers once again. And in this regard, Nvidia's future appears bright. Rising demand for its chips in booming markets, such as data centers and gaming, are driving sharp increases in revenue and profits. With this likely to remain the case for the foreseeable future, Wednesday's gains could be just part of a far larger upward move for Nvidia's share price in the coming years.</p><p><blockquote>既然分拆已经发生，投资者似乎再次关注英伟达的基本增长动力。而在这方面，英伟达的未来显得一片光明。数据中心和游戏等蓬勃发展的市场对其芯片的需求不断增长，推动了收入和利润的大幅增长。在可预见的未来，这种情况可能会持续下去，周三的上涨可能只是英伟达股价未来几年更大上涨的一部分。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/07/21/why-nvidia-stock-jumped-today/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://www.fool.com/investing/2021/07/21/why-nvidia-stock-jumped-today/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1149385054","content_text":"After a short pullback following Nvidia's recent stock split, investors went right back to bidding up the tech titan's shares.\n\nWhat happened\nNVIDIA Corp climbed 4.3% on Wednesday, following its 4-for-1 stock split on Tuesday.\nSo what\nStock splitsdon't change the fundamental value of a business. A 4-for-1 split is in many ways like exchanging a $1 bill for four quarters. The total value is the same; it's just divided into more pieces.\nNevertheless, traders do tend to get excited about stock splits, and this can positively impact a stock's price leading up to the split. After the split occurs, however, traders often take the opportunity to book short-term profits. And many investors, who are now in possession of more shares, use it as a chance to sell part of their holdings and book some long-term profits.\nThese short-term price dynamics appeared to impact Nvidia's stock in recent weeks. Its share price rose 25% from when it announced its stock split on May 21 until July 19. And after the split took place on July 20, Nvidia's shares fell as much as 3.5% before ending the day down about 1%.\nNow what\nNow that the split has occurred, investors appear to be focusing on Nvidia's fundamental growth drivers once again. And in this regard, Nvidia's future appears bright. Rising demand for its chips in booming markets, such as data centers and gaming, are driving sharp increases in revenue and profits. With this likely to remain the case for the foreseeable future, Wednesday's gains could be just part of a far larger upward move for Nvidia's share price in the coming years.","news_type":1,"symbols_score_info":{"NVDA":0.9}},"isVote":1,"tweetType":1,"viewCount":1417,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":194832499,"gmtCreate":1621352430211,"gmtModify":1634192192780,"author":{"id":"3565951516983876","authorId":"3565951516983876","name":"Whyandwhynot","avatar":"https://static.tigerbbs.com/1c1b86e70178e57c45cdafdbcce886c6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3565951516983876","authorIdStr":"3565951516983876"},"themes":[],"htmlText":"Wow!&nbsp;","listText":"Wow!&nbsp;","text":"Wow!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/194832499","repostId":"2136738931","repostType":4,"repost":{"id":"2136738931","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":1621318800,"share":"https://www.laohu8.com/m/news/2136738931?lang=zh_CN&edition=full","pubTime":"2021-05-18 14:20","market":"hk","language":"en","title":"JD Logistics launches Hong Kong IPO to raise up to US$3.4 billion<blockquote>京东物流启动香港IPO募资至多34亿美元</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2136738931","media":"Tiger Newspress","summary":"The logistics arm of Chinese e-commerce giant JD.com started marketing its Hong Kong initial public offering  to retail investors on Monday at a price range of HK$39.36 to HK$43.36 per share, which could see the firm raise as much as HK$26.4 billion  if the deal is priced at the top end.JD Logistics' public offering will run from Monday to Friday. Its shares are expected to begin trading on the Hong Kong bourse's main board on May 28.JD Logistics' offering is expected to be the second multibilli","content":"<p>The logistics arm of Chinese e-commerce giant JD.com started marketing its Hong Kong initial public offering (IPO) to retail investors on Monday at a price range of HK$39.36 to HK$43.36 per share, which could see the firm raise as much as HK$26.4 billion (US$3.4 billion) if the deal is priced at the top end.<a href=\"https://www.itiger.com/mi/ipo?feature=Push\" target=\"_blank\"><b>（Click here To apply for the JD Logistics Shares）</b></a><b></b></p><p><blockquote>中国电子商务巨头京东的物流部门周一开始向散户投资者推销其在香港的首次公开募股（IPO），价格范围为每股39.36港元至43.36港元，如果交易定价在最高端，该公司可能会筹集高达264亿港元（34亿美元）。<a href=\"https://www.itiger.com/mi/ipo?feature=Push\" target=\"_blank\"><b>（点击此处申请京东物流股份）</b></a><b></b></blockquote></p><p>JD Logistics' public offering will run from Monday to Friday. Its shares are expected to begin trading on the Hong Kong bourse's main board on May 28.</p><p><blockquote>京东物流的公开发行将从周一持续到周五。其股票预计将于5月28日在香港交易所主板开始交易。</blockquote></p><p>JD Logistics plans to sell 609.2 million shares, representing 10 per cent of its enlarged share capital. There is an over-allotment option to sell up to 91.4 million more shares if there is a strong demand.</p><p><blockquote>京东物流计划出售6.092亿股股票，占其扩大后股本的10%。如果需求强劲，则有超额配股权可再出售最多9140万股。</blockquote></p><p><img src=\"https://static.tigerbbs.com/cd9320033ea7302952fa2cb6ece8339a\" tg-width=\"958\" tg-height=\"464\"></p><p><blockquote></blockquote></p><p>Your application must be for a minimum of 100 Hong Kong Offer Shares and in one of the numbers set out in the table. You are required to pay the amount next to the number you select.</p><p><blockquote>阁下的申请必须认购最少100股香港发售股份，并按下表所列其中一个数目认购。您需要支付您选择的号码旁边的金额。</blockquote></p><p><img src=\"https://static.tigerbbs.com/b1f72efeb4b54a02dbfe728ebb1099dd\" tg-width=\"958\" tg-height=\"437\"></p><p><blockquote></blockquote></p><p>JD Logistics' offering is expected to be the second multibillion-dollar IPO on the Hong Kong bourse this year, after Tencent-backed short video platform Kuaishou Technology raised US$6.2 billion in January. The Kuaishou offering was the biggest IPO globally so far this year.</p><p><blockquote>京东物流的发行预计将是今年港交所第二笔数十亿美元的IPO，此前腾讯控股支持的短视频平台快手科技在1月份筹集了62亿美元。快手的发行是今年迄今为止全球最大的IPO。</blockquote></p><p>Eight cornerstone investors have committed to buy a total of US$1.5 billion worth of JD Logistics shares, which would account for about 39 per cent of its global offering if the deal is priced at the top end.</p><p><blockquote>八名基石投资者已承诺购买总价值15亿美元的京东物流股票，如果交易定价为最高端，这将占其全球发行的约39%。</blockquote></p><p>The investors include Softbank, Singapore sovereign wealth fund Temasek Holdings, China Structural Reform Fund and asset managers such as Blackstone, Tiger Global Management and others.</p><p><blockquote>投资者包括软银、新加坡主权财富基金淡马锡控股、中国结构性改革基金以及黑石、老虎环球管理等资产管理公司。</blockquote></p><p>BofA Securities, Goldman Sachs and Haitong International are acting as joint sponsors on the transaction, while UBS is serving as a financial adviser.</p><p><blockquote>美银证券、高盛和海通国际担任此次交易的联席保荐人，瑞银则担任财务顾问。</blockquote></p><p>Assuming the deal is priced at the top end, JD Logistics' market capitalisation would be HK$264.1 billion, valuing it higher than ZTO Express.</p><p><blockquote>假设该交易定价为最高端，京东物流的市值将为2641亿港元，估值高于中通快递。</blockquote></p><p>Shanghai-based ZTO, which counts Alibaba Group Holding as one of its shareholders, had a market capitalisation of HK$180.7 billion when it listed in Hong Kong through a secondary listing last September. Alibaba owns the South China Morning Post.</p><p><blockquote>总部位于上海的中通去年9月通过二次上市在港上市时，市值为1807亿港元，阿里巴巴-SW集团是其股东之一。阿里巴巴-SW拥有《南华早报》。</blockquote></p><p>Investors will be keen to learn more about JD Logistics' plan to churn out a profit. The Beijing-based firm said in its prospectus that it expects a bigger net loss for this year, after racking up losses of 2.8 billion yuan (US$435 million) in 2018, 2.2 billion yuan in 2019 and 4 billion yuan in 2020.</p><p><blockquote>投资者将渴望了解更多有关京东物流盈利计划的信息。这家总部位于北京的公司在招股说明书中表示，预计今年的净亏损将更大，此前2018年亏损28亿元人民币（4.35亿美元），2019年亏损22亿元人民币，2020年亏损40亿元人民币。</blockquote></p><p>\"As we currently prioritise growth of our business and expansion of our market share over profitability, there can be significant fluctuations in our profitability profile in the near-to-medium term,\" the company said in its draft prospectus.</p><p><blockquote>该公司在招股说明书草案中表示：“由于我们目前将业务增长和市场份额扩大置于盈利能力之上，因此我们的盈利状况在中短期内可能会出现重大波动。”</blockquote></p><p>JD Logistics is seeking to differentiate itself from other players, such as ZTO and Yunda Holding, by touting itself as a technology-driven logistic services provider using autonomous mobile robots, sorting robots and self-driving vehicles to enhance delivery speed and accuracy.</p><p><blockquote>京东物流正在寻求与中通和韵达控股等其他参与者区分开来，将自己标榜为一家技术驱动的物流服务提供商，使用自主移动机器人、分拣机器人和自动驾驶汽车来提高配送速度和准确性。</blockquote></p><p>Pitching the stock sale with a tech angle could help JD Logistics paint a more positive outlook. This is because competition is particularly keen in the express delivery sector, with reports of some newer players offering services at below cost to grab business.</p><p><blockquote>从技术角度推销股票销售可以帮助京东物流描绘更积极的前景。这是因为快递行业的竞争尤其激烈，有报道称一些新参与者以低于成本的价格提供服务来抢占业务。</blockquote></p><p>Over the past three years, the average revenue per parcel for express delivery companies declined by 50 per cent to 60 per cent owing to intensive market competition, according to Charlie Chen, an analyst at China Renaissance.</p><p><blockquote>华兴资本分析师查理·陈(Charlie Chen)表示，过去三年，由于市场竞争激烈，快递公司每个包裹的平均收入下降了50%至60%。</blockquote></p><p>SF Express, China's top delivery service provider, shocked the market this month after it forecast a first-quarter loss of 1.1 billion yuan, triggering a sell-off of its stock. As of Friday's close, its share price in Shanghai was almost halved from its mid-February peak.</p><p><blockquote>中国最大的快递服务提供商顺丰本月震惊市场，此前该公司预测第一季度亏损11亿元人民币，引发了对其股票的抛售。截至周五收盘，其在上海的股价较2月中旬的峰值几乎腰斩。</blockquote></p><p>Five players - ZTO, YTO Express, STO Express, SF Express and Yunda Holding - account for nearly 80 per cent of China's express delivery service market.</p><p><blockquote>中通、圆通快递、申通快递、顺丰快递和韵达控股这五家公司占据了中国快递服务市场近80%的份额。</blockquote></p><p>China is the biggest logistics market in the world in terms of spending, with total logistics spending reaching 14.9 trillion yuan in 2020. That is expected to increase to 19.3 trillion yuan by 2025, according to data from research firm China Insights Consultancy cited in JD Logistics' prospectus.</p><p><blockquote>就支出而言，中国是全球最大的物流市场，2020年物流总支出达到14.9万亿元。京东物流招股说明书中引用的研究公司灼识咨询的数据显示，预计到2025年，这一数字将增至19.3万亿元。</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>JD Logistics launches Hong Kong IPO to raise up to US$3.4 billion<blockquote>京东物流启动香港IPO募资至多34亿美元</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\">\nJD Logistics launches Hong Kong IPO to raise up to US$3.4 billion<blockquote>京东物流启动香港IPO募资至多34亿美元</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\">2021-05-18 14:20</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The logistics arm of Chinese e-commerce giant JD.com started marketing its Hong Kong initial public offering (IPO) to retail investors on Monday at a price range of HK$39.36 to HK$43.36 per share, which could see the firm raise as much as HK$26.4 billion (US$3.4 billion) if the deal is priced at the top end.<a href=\"https://www.itiger.com/mi/ipo?feature=Push\" target=\"_blank\"><b>（Click here To apply for the JD Logistics Shares）</b></a><b></b></p><p><blockquote>中国电子商务巨头京东的物流部门周一开始向散户投资者推销其在香港的首次公开募股（IPO），价格范围为每股39.36港元至43.36港元，如果交易定价在最高端，该公司可能会筹集高达264亿港元（34亿美元）。<a href=\"https://www.itiger.com/mi/ipo?feature=Push\" target=\"_blank\"><b>（点击此处申请京东物流股份）</b></a><b></b></blockquote></p><p>JD Logistics' public offering will run from Monday to Friday. Its shares are expected to begin trading on the Hong Kong bourse's main board on May 28.</p><p><blockquote>京东物流的公开发行将从周一持续到周五。其股票预计将于5月28日在香港交易所主板开始交易。</blockquote></p><p>JD Logistics plans to sell 609.2 million shares, representing 10 per cent of its enlarged share capital. There is an over-allotment option to sell up to 91.4 million more shares if there is a strong demand.</p><p><blockquote>京东物流计划出售6.092亿股股票，占其扩大后股本的10%。如果需求强劲，则有超额配股权可再出售最多9140万股。</blockquote></p><p><img src=\"https://static.tigerbbs.com/cd9320033ea7302952fa2cb6ece8339a\" tg-width=\"958\" tg-height=\"464\"></p><p><blockquote></blockquote></p><p>Your application must be for a minimum of 100 Hong Kong Offer Shares and in one of the numbers set out in the table. You are required to pay the amount next to the number you select.</p><p><blockquote>阁下的申请必须认购最少100股香港发售股份，并按下表所列其中一个数目认购。您需要支付您选择的号码旁边的金额。</blockquote></p><p><img src=\"https://static.tigerbbs.com/b1f72efeb4b54a02dbfe728ebb1099dd\" tg-width=\"958\" tg-height=\"437\"></p><p><blockquote></blockquote></p><p>JD Logistics' offering is expected to be the second multibillion-dollar IPO on the Hong Kong bourse this year, after Tencent-backed short video platform Kuaishou Technology raised US$6.2 billion in January. The Kuaishou offering was the biggest IPO globally so far this year.</p><p><blockquote>京东物流的发行预计将是今年港交所第二笔数十亿美元的IPO，此前腾讯控股支持的短视频平台快手科技在1月份筹集了62亿美元。快手的发行是今年迄今为止全球最大的IPO。</blockquote></p><p>Eight cornerstone investors have committed to buy a total of US$1.5 billion worth of JD Logistics shares, which would account for about 39 per cent of its global offering if the deal is priced at the top end.</p><p><blockquote>八名基石投资者已承诺购买总价值15亿美元的京东物流股票，如果交易定价为最高端，这将占其全球发行的约39%。</blockquote></p><p>The investors include Softbank, Singapore sovereign wealth fund Temasek Holdings, China Structural Reform Fund and asset managers such as Blackstone, Tiger Global Management and others.</p><p><blockquote>投资者包括软银、新加坡主权财富基金淡马锡控股、中国结构性改革基金以及黑石、老虎环球管理等资产管理公司。</blockquote></p><p>BofA Securities, Goldman Sachs and Haitong International are acting as joint sponsors on the transaction, while UBS is serving as a financial adviser.</p><p><blockquote>美银证券、高盛和海通国际担任此次交易的联席保荐人，瑞银则担任财务顾问。</blockquote></p><p>Assuming the deal is priced at the top end, JD Logistics' market capitalisation would be HK$264.1 billion, valuing it higher than ZTO Express.</p><p><blockquote>假设该交易定价为最高端，京东物流的市值将为2641亿港元，估值高于中通快递。</blockquote></p><p>Shanghai-based ZTO, which counts Alibaba Group Holding as one of its shareholders, had a market capitalisation of HK$180.7 billion when it listed in Hong Kong through a secondary listing last September. Alibaba owns the South China Morning Post.</p><p><blockquote>总部位于上海的中通去年9月通过二次上市在港上市时，市值为1807亿港元，阿里巴巴-SW集团是其股东之一。阿里巴巴-SW拥有《南华早报》。</blockquote></p><p>Investors will be keen to learn more about JD Logistics' plan to churn out a profit. The Beijing-based firm said in its prospectus that it expects a bigger net loss for this year, after racking up losses of 2.8 billion yuan (US$435 million) in 2018, 2.2 billion yuan in 2019 and 4 billion yuan in 2020.</p><p><blockquote>投资者将渴望了解更多有关京东物流盈利计划的信息。这家总部位于北京的公司在招股说明书中表示，预计今年的净亏损将更大，此前2018年亏损28亿元人民币（4.35亿美元），2019年亏损22亿元人民币，2020年亏损40亿元人民币。</blockquote></p><p>\"As we currently prioritise growth of our business and expansion of our market share over profitability, there can be significant fluctuations in our profitability profile in the near-to-medium term,\" the company said in its draft prospectus.</p><p><blockquote>该公司在招股说明书草案中表示：“由于我们目前将业务增长和市场份额扩大置于盈利能力之上，因此我们的盈利状况在中短期内可能会出现重大波动。”</blockquote></p><p>JD Logistics is seeking to differentiate itself from other players, such as ZTO and Yunda Holding, by touting itself as a technology-driven logistic services provider using autonomous mobile robots, sorting robots and self-driving vehicles to enhance delivery speed and accuracy.</p><p><blockquote>京东物流正在寻求与中通和韵达控股等其他参与者区分开来，将自己标榜为一家技术驱动的物流服务提供商，使用自主移动机器人、分拣机器人和自动驾驶汽车来提高配送速度和准确性。</blockquote></p><p>Pitching the stock sale with a tech angle could help JD Logistics paint a more positive outlook. This is because competition is particularly keen in the express delivery sector, with reports of some newer players offering services at below cost to grab business.</p><p><blockquote>从技术角度推销股票销售可以帮助京东物流描绘更积极的前景。这是因为快递行业的竞争尤其激烈，有报道称一些新参与者以低于成本的价格提供服务来抢占业务。</blockquote></p><p>Over the past three years, the average revenue per parcel for express delivery companies declined by 50 per cent to 60 per cent owing to intensive market competition, according to Charlie Chen, an analyst at China Renaissance.</p><p><blockquote>华兴资本分析师查理·陈(Charlie Chen)表示，过去三年，由于市场竞争激烈，快递公司每个包裹的平均收入下降了50%至60%。</blockquote></p><p>SF Express, China's top delivery service provider, shocked the market this month after it forecast a first-quarter loss of 1.1 billion yuan, triggering a sell-off of its stock. As of Friday's close, its share price in Shanghai was almost halved from its mid-February peak.</p><p><blockquote>中国最大的快递服务提供商顺丰本月震惊市场，此前该公司预测第一季度亏损11亿元人民币，引发了对其股票的抛售。截至周五收盘，其在上海的股价较2月中旬的峰值几乎腰斩。</blockquote></p><p>Five players - ZTO, YTO Express, STO Express, SF Express and Yunda Holding - account for nearly 80 per cent of China's express delivery service market.</p><p><blockquote>中通、圆通快递、申通快递、顺丰快递和韵达控股这五家公司占据了中国快递服务市场近80%的份额。</blockquote></p><p>China is the biggest logistics market in the world in terms of spending, with total logistics spending reaching 14.9 trillion yuan in 2020. That is expected to increase to 19.3 trillion yuan by 2025, according to data from research firm China Insights Consultancy cited in JD Logistics' prospectus.</p><p><blockquote>就支出而言，中国是全球最大的物流市场，2020年物流总支出达到14.9万亿元。京东物流招股说明书中引用的研究公司灼识咨询的数据显示，预计到2025年，这一数字将增至19.3万亿元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"02618":"京东物流"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2136738931","content_text":"The logistics arm of Chinese e-commerce giant JD.com started marketing its Hong Kong initial public offering (IPO) to retail investors on Monday at a price range of HK$39.36 to HK$43.36 per share, which could see the firm raise as much as HK$26.4 billion (US$3.4 billion) if the deal is priced at the top end.（Click here To apply for the JD Logistics Shares）JD Logistics' public offering will run from Monday to Friday. Its shares are expected to begin trading on the Hong Kong bourse's main board on May 28.JD Logistics plans to sell 609.2 million shares, representing 10 per cent of its enlarged share capital. There is an over-allotment option to sell up to 91.4 million more shares if there is a strong demand.Your application must be for a minimum of 100 Hong Kong Offer Shares and in one of the numbers set out in the table. You are required to pay the amount next to the number you select.JD Logistics' offering is expected to be the second multibillion-dollar IPO on the Hong Kong bourse this year, after Tencent-backed short video platform Kuaishou Technology raised US$6.2 billion in January. The Kuaishou offering was the biggest IPO globally so far this year.Eight cornerstone investors have committed to buy a total of US$1.5 billion worth of JD Logistics shares, which would account for about 39 per cent of its global offering if the deal is priced at the top end.The investors include Softbank, Singapore sovereign wealth fund Temasek Holdings, China Structural Reform Fund and asset managers such as Blackstone, Tiger Global Management and others.BofA Securities, Goldman Sachs and Haitong International are acting as joint sponsors on the transaction, while UBS is serving as a financial adviser.Assuming the deal is priced at the top end, JD Logistics' market capitalisation would be HK$264.1 billion, valuing it higher than ZTO Express.Shanghai-based ZTO, which counts Alibaba Group Holding as one of its shareholders, had a market capitalisation of HK$180.7 billion when it listed in Hong Kong through a secondary listing last September. Alibaba owns the South China Morning Post.Investors will be keen to learn more about JD Logistics' plan to churn out a profit. The Beijing-based firm said in its prospectus that it expects a bigger net loss for this year, after racking up losses of 2.8 billion yuan (US$435 million) in 2018, 2.2 billion yuan in 2019 and 4 billion yuan in 2020.\"As we currently prioritise growth of our business and expansion of our market share over profitability, there can be significant fluctuations in our profitability profile in the near-to-medium term,\" the company said in its draft prospectus.JD Logistics is seeking to differentiate itself from other players, such as ZTO and Yunda Holding, by touting itself as a technology-driven logistic services provider using autonomous mobile robots, sorting robots and self-driving vehicles to enhance delivery speed and accuracy.Pitching the stock sale with a tech angle could help JD Logistics paint a more positive outlook. This is because competition is particularly keen in the express delivery sector, with reports of some newer players offering services at below cost to grab business.Over the past three years, the average revenue per parcel for express delivery companies declined by 50 per cent to 60 per cent owing to intensive market competition, according to Charlie Chen, an analyst at China Renaissance.SF Express, China's top delivery service provider, shocked the market this month after it forecast a first-quarter loss of 1.1 billion yuan, triggering a sell-off of its stock. As of Friday's close, its share price in Shanghai was almost halved from its mid-February peak.Five players - ZTO, YTO Express, STO Express, SF Express and Yunda Holding - account for nearly 80 per cent of China's express delivery service market.China is the biggest logistics market in the world in terms of spending, with total logistics spending reaching 14.9 trillion yuan in 2020. That is expected to increase to 19.3 trillion yuan by 2025, according to data from research firm China Insights Consultancy cited in JD Logistics' prospectus.","news_type":1,"symbols_score_info":{"02618":0.9}},"isVote":1,"tweetType":1,"viewCount":716,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":153001696,"gmtCreate":1624982972215,"gmtModify":1633946164449,"author":{"id":"3565951516983876","authorId":"3565951516983876","name":"Whyandwhynot","avatar":"https://static.tigerbbs.com/1c1b86e70178e57c45cdafdbcce886c6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3565951516983876","authorIdStr":"3565951516983876"},"themes":[],"htmlText":"Wow!&nbsp;","listText":"Wow!&nbsp;","text":"Wow!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/153001696","repostId":"2147343850","repostType":4,"isVote":1,"tweetType":1,"viewCount":1490,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":111915693,"gmtCreate":1622648713712,"gmtModify":1634099568441,"author":{"id":"3565951516983876","authorId":"3565951516983876","name":"Whyandwhynot","avatar":"https://static.tigerbbs.com/1c1b86e70178e57c45cdafdbcce886c6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3565951516983876","authorIdStr":"3565951516983876"},"themes":[],"htmlText":"Growing strong&nbsp;","listText":"Growing strong&nbsp;","text":"Growing strong","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/111915693","repostId":"1190877618","repostType":4,"isVote":1,"tweetType":1,"viewCount":1182,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":111916964,"gmtCreate":1622648648458,"gmtModify":1634099569458,"author":{"id":"3565951516983876","authorId":"3565951516983876","name":"Whyandwhynot","avatar":"https://static.tigerbbs.com/1c1b86e70178e57c45cdafdbcce886c6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3565951516983876","authorIdStr":"3565951516983876"},"themes":[],"htmlText":"Interesting read","listText":"Interesting read","text":"Interesting read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/111916964","repostId":"2140102614","repostType":4,"isVote":1,"tweetType":1,"viewCount":1355,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166486959,"gmtCreate":1624022683471,"gmtModify":1634023992014,"author":{"id":"3565951516983876","authorId":"3565951516983876","name":"Whyandwhynot","avatar":"https://static.tigerbbs.com/1c1b86e70178e57c45cdafdbcce886c6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3565951516983876","authorIdStr":"3565951516983876"},"themes":[],"htmlText":"A good read on NIO","listText":"A good read on NIO","text":"A good read on NIO","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166486959","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":1823,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":136718143,"gmtCreate":1622039375182,"gmtModify":1634184423911,"author":{"id":"3565951516983876","authorId":"3565951516983876","name":"Whyandwhynot","avatar":"https://static.tigerbbs.com/1c1b86e70178e57c45cdafdbcce886c6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3565951516983876","authorIdStr":"3565951516983876"},"themes":[],"htmlText":"Insightful read","listText":"Insightful read","text":"Insightful read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/136718143","repostId":"2138511164","repostType":4,"isVote":1,"tweetType":1,"viewCount":761,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":158562252,"gmtCreate":1625156901776,"gmtModify":1633943029779,"author":{"id":"3565951516983876","authorId":"3565951516983876","name":"Whyandwhynot","avatar":"https://static.tigerbbs.com/1c1b86e70178e57c45cdafdbcce886c6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3565951516983876","authorIdStr":"3565951516983876"},"themes":[],"htmlText":"Hmm&nbsp;","listText":"Hmm&nbsp;","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/158562252","repostId":"2148825910","repostType":4,"isVote":1,"tweetType":1,"viewCount":2669,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":182418327,"gmtCreate":1623597258169,"gmtModify":1634031308244,"author":{"id":"3565951516983876","authorId":"3565951516983876","name":"Whyandwhynot","avatar":"https://static.tigerbbs.com/1c1b86e70178e57c45cdafdbcce886c6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3565951516983876","authorIdStr":"3565951516983876"},"themes":[],"htmlText":"Hmm&nbsp;","listText":"Hmm&nbsp;","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/182418327","repostId":"1189143522","repostType":4,"repost":{"id":"1189143522","kind":"news","pubTimestamp":1623513679,"share":"https://www.laohu8.com/m/news/1189143522?lang=zh_CN&edition=full","pubTime":"2021-06-13 00:01","market":"us","language":"en","title":"Snowflake Is a Growth Juggernaut. Wall Street Is Thinking About Stock Value.<blockquote>雪花是一个增长巨人。华尔街正在考虑股票价值。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1189143522","media":"Barron's","summary":"Snowflake remains one of the best growth stories in the history of the software business, and that h","content":"<p>Snowflake remains one of the best growth stories in the history of the software business, and that has Wall Street talking about the stock’s valuation.</p><p><blockquote>Snowflake仍然是软件行业历史上最好的增长故事之一，这让华尔街开始谈论该股的估值。</blockquote></p><p> In meeting with analysts on Thursday,the cloud-data software company provided an ambitious goalof reaching $10 billion in product revenue in the January 2029 fiscal year. That compares to $554 million forthe January 2021 fiscal year.</p><p><blockquote>在周四与分析师会面时，这家云数据软件公司提出了一个雄心勃勃的目标，即在2029年1月财年实现产品收入100亿美元。相比之下，2021年1月财年的收入为5.54亿美元。</blockquote></p><p> Snowflake (ticker: SNOW) should still be growing 30% at the top-line at that point, according to chief financial officer Mike Scarpelli, while generating 10% operating margins and free cash flow margins of 15% or better. He also said the company now sees a total addressable market of $90 billion, an expansion of more than 10% from the $81 billion estimated market size cited during its IPO roadshow in 2020.</p><p><blockquote>Snowflake（股票代码：SNOW）首席财务官Mike Scarpelli表示，届时营收仍应增长30%，同时产生10%的营业利润率和15%或更高的自由现金流利润率。他还表示，该公司目前预计潜在市场总额为900亿美元，比2020年IPO路演期间估计的810亿美元市场规模增长了10%以上。</blockquote></p><p> The long-term growth goals help frame the huge opportunity that Snowflake has ahead, but did nothing to change the fundamental debate about the stock: Does the impressive growth rate—120% in product revenue in the latest year— justify the massive valuation? In afternoon trading Friday, shares were off 4.4%, to $237.84.</p><p><blockquote>长期增长目标有助于构建Snowflake未来的巨大机遇，但并没有改变有关该股的根本争论：令人印象深刻的增长率（最近一年产品收入120%）是否证明了巨大的估值是合理的？周五下午交易中，股价下跌4.4%，至237.84美元。</blockquote></p><p> Canaccord Genuity analyst David Hynes notes that if Snowflake hits its $10 billion target, it would be the fastest that a software company has reached that size. Hynes adds that the history of the management team, led by CEO Frank Slootman, suggests Snowflake could reach its target early.</p><p><blockquote>Canaccord Genuity分析师David Hynes指出，如果Snowflake达到100亿美元的目标，这将是软件公司达到这一规模的最快速度。Hynes补充说，由首席执行官Frank Slootman领导的管理团队的历史表明Snowflake可能会提前实现其目标。</blockquote></p><p> But Hynes nonetheless is sticking with his Hold rating and $240 target price. “There’s no doubt that this is an exceptional business, but in our view, the stock’s current valuation”—about 47 times estimated calendar 2022 revenues—“fully reflects it.” He adds that as estimates move higher and the stock grinds sideways, he’s “getting closer to an upgrade,” but isn’t there yet. “We’re content to wait for more of the excess to burn off.”</p><p><blockquote>但海因斯仍然坚持持有评级和240美元的目标价。“毫无疑问，这是一项特殊的业务，但在我们看来，该股目前的估值”——约为2022年预计收入的47倍——“充分反映了这一点”。他补充说，随着预期上升和股价横盘整理，他“越来越接近升级”，但还没有达到。“我们满足于等待更多多余的东西被烧掉。”</blockquote></p><p> Likewise, Morgan Stanley analyst Keith Weiss writes in a research note that given the 120% product growth in fiscal 2021, the $10 billion target might be conservative. He adds that “the harder part of the equation may be justifying the valuation based on these targets.” Weiss says the model that Snowflake laid out implies $1.6 billion in free cash flow in fiscal 2029, which values the stock at 51 times free cash flow 8 years out. “While very impressed by the market opportunity …and Snowflake’s opportunity,” he says valuation keeps him on the sidelines. Weiss repeats his Equal Weigh rating and $270 price target.</p><p><blockquote>同样，摩根士丹利分析师Keith Weiss在一份研究报告中写道，鉴于2021财年120%的产品增长，100亿美元的目标可能是保守的。他补充说，“等式中更困难的部分可能是证明基于这些目标的估值的合理性。”Weiss表示，Snowflake制定的模型意味着2029财年的自由现金流为16亿美元，这意味着该股8年后自由现金流的估值为51倍。“虽然对市场机会……以及雪花的机会印象深刻，”他表示，估值让他保持观望。Weiss重申了同等权重评级和270美元的目标价。</blockquote></p><p></p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Snowflake Is a Growth Juggernaut. Wall Street Is Thinking About Stock Value.<blockquote>雪花是一个增长巨人。华尔街正在考虑股票价值。</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\">\nSnowflake Is a Growth Juggernaut. Wall Street Is Thinking About Stock Value.<blockquote>雪花是一个增长巨人。华尔街正在考虑股票价值。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-06-13 00:01</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Snowflake remains one of the best growth stories in the history of the software business, and that has Wall Street talking about the stock’s valuation.</p><p><blockquote>Snowflake仍然是软件行业历史上最好的增长故事之一，这让华尔街开始谈论该股的估值。</blockquote></p><p> In meeting with analysts on Thursday,the cloud-data software company provided an ambitious goalof reaching $10 billion in product revenue in the January 2029 fiscal year. That compares to $554 million forthe January 2021 fiscal year.</p><p><blockquote>在周四与分析师会面时，这家云数据软件公司提出了一个雄心勃勃的目标，即在2029年1月财年实现产品收入100亿美元。相比之下，2021年1月财年的收入为5.54亿美元。</blockquote></p><p> Snowflake (ticker: SNOW) should still be growing 30% at the top-line at that point, according to chief financial officer Mike Scarpelli, while generating 10% operating margins and free cash flow margins of 15% or better. He also said the company now sees a total addressable market of $90 billion, an expansion of more than 10% from the $81 billion estimated market size cited during its IPO roadshow in 2020.</p><p><blockquote>Snowflake（股票代码：SNOW）首席财务官Mike Scarpelli表示，届时营收仍应增长30%，同时产生10%的营业利润率和15%或更高的自由现金流利润率。他还表示，该公司目前预计潜在市场总额为900亿美元，比2020年IPO路演期间估计的810亿美元市场规模增长了10%以上。</blockquote></p><p> The long-term growth goals help frame the huge opportunity that Snowflake has ahead, but did nothing to change the fundamental debate about the stock: Does the impressive growth rate—120% in product revenue in the latest year— justify the massive valuation? In afternoon trading Friday, shares were off 4.4%, to $237.84.</p><p><blockquote>长期增长目标有助于构建Snowflake未来的巨大机遇，但并没有改变有关该股的根本争论：令人印象深刻的增长率（最近一年产品收入120%）是否证明了巨大的估值是合理的？周五下午交易中，股价下跌4.4%，至237.84美元。</blockquote></p><p> Canaccord Genuity analyst David Hynes notes that if Snowflake hits its $10 billion target, it would be the fastest that a software company has reached that size. Hynes adds that the history of the management team, led by CEO Frank Slootman, suggests Snowflake could reach its target early.</p><p><blockquote>Canaccord Genuity分析师David Hynes指出，如果Snowflake达到100亿美元的目标，这将是软件公司达到这一规模的最快速度。Hynes补充说，由首席执行官Frank Slootman领导的管理团队的历史表明Snowflake可能会提前实现其目标。</blockquote></p><p> But Hynes nonetheless is sticking with his Hold rating and $240 target price. “There’s no doubt that this is an exceptional business, but in our view, the stock’s current valuation”—about 47 times estimated calendar 2022 revenues—“fully reflects it.” He adds that as estimates move higher and the stock grinds sideways, he’s “getting closer to an upgrade,” but isn’t there yet. “We’re content to wait for more of the excess to burn off.”</p><p><blockquote>但海因斯仍然坚持持有评级和240美元的目标价。“毫无疑问，这是一项特殊的业务，但在我们看来，该股目前的估值”——约为2022年预计收入的47倍——“充分反映了这一点”。他补充说，随着预期上升和股价横盘整理，他“越来越接近升级”，但还没有达到。“我们满足于等待更多多余的东西被烧掉。”</blockquote></p><p> Likewise, Morgan Stanley analyst Keith Weiss writes in a research note that given the 120% product growth in fiscal 2021, the $10 billion target might be conservative. He adds that “the harder part of the equation may be justifying the valuation based on these targets.” Weiss says the model that Snowflake laid out implies $1.6 billion in free cash flow in fiscal 2029, which values the stock at 51 times free cash flow 8 years out. “While very impressed by the market opportunity …and Snowflake’s opportunity,” he says valuation keeps him on the sidelines. Weiss repeats his Equal Weigh rating and $270 price target.</p><p><blockquote>同样，摩根士丹利分析师Keith Weiss在一份研究报告中写道，鉴于2021财年120%的产品增长，100亿美元的目标可能是保守的。他补充说，“等式中更困难的部分可能是证明基于这些目标的估值的合理性。”Weiss表示，Snowflake制定的模型意味着2029财年的自由现金流为16亿美元，这意味着该股8年后自由现金流的估值为51倍。“虽然对市场机会……以及雪花的机会印象深刻，”他表示，估值让他保持观望。Weiss重申了同等权重评级和270美元的目标价。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/snowflake-is-a-growth-juggernaut-wall-street-is-thinking-about-stock-value-51623432689?siteid=yhoof2\">Barron's</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SNOW":"Snowflake"},"source_url":"https://www.barrons.com/articles/snowflake-is-a-growth-juggernaut-wall-street-is-thinking-about-stock-value-51623432689?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1189143522","content_text":"Snowflake remains one of the best growth stories in the history of the software business, and that has Wall Street talking about the stock’s valuation.\nIn meeting with analysts on Thursday,the cloud-data software company provided an ambitious goalof reaching $10 billion in product revenue in the January 2029 fiscal year. That compares to $554 million forthe January 2021 fiscal year.\nSnowflake (ticker: SNOW) should still be growing 30% at the top-line at that point, according to chief financial officer Mike Scarpelli, while generating 10% operating margins and free cash flow margins of 15% or better. He also said the company now sees a total addressable market of $90 billion, an expansion of more than 10% from the $81 billion estimated market size cited during its IPO roadshow in 2020.\nThe long-term growth goals help frame the huge opportunity that Snowflake has ahead, but did nothing to change the fundamental debate about the stock: Does the impressive growth rate—120% in product revenue in the latest year— justify the massive valuation? In afternoon trading Friday, shares were off 4.4%, to $237.84.\nCanaccord Genuity analyst David Hynes notes that if Snowflake hits its $10 billion target, it would be the fastest that a software company has reached that size. Hynes adds that the history of the management team, led by CEO Frank Slootman, suggests Snowflake could reach its target early.\nBut Hynes nonetheless is sticking with his Hold rating and $240 target price. “There’s no doubt that this is an exceptional business, but in our view, the stock’s current valuation”—about 47 times estimated calendar 2022 revenues—“fully reflects it.” He adds that as estimates move higher and the stock grinds sideways, he’s “getting closer to an upgrade,” but isn’t there yet. “We’re content to wait for more of the excess to burn off.”\nLikewise, Morgan Stanley analyst Keith Weiss writes in a research note that given the 120% product growth in fiscal 2021, the $10 billion target might be conservative. He adds that “the harder part of the equation may be justifying the valuation based on these targets.” Weiss says the model that Snowflake laid out implies $1.6 billion in free cash flow in fiscal 2029, which values the stock at 51 times free cash flow 8 years out. “While very impressed by the market opportunity …and Snowflake’s opportunity,” he says valuation keeps him on the sidelines. Weiss repeats his Equal Weigh rating and $270 price target.","news_type":1,"symbols_score_info":{"SNOW":0.9}},"isVote":1,"tweetType":1,"viewCount":1418,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":198587731,"gmtCreate":1620971375123,"gmtModify":1634194854591,"author":{"id":"3565951516983876","authorId":"3565951516983876","name":"Whyandwhynot","avatar":"https://static.tigerbbs.com/1c1b86e70178e57c45cdafdbcce886c6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3565951516983876","authorIdStr":"3565951516983876"},"themes":[],"htmlText":"Sad news....&nbsp;","listText":"Sad news....&nbsp;","text":"Sad news....","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/198587731","repostId":"1182602613","repostType":4,"isVote":1,"tweetType":1,"viewCount":1584,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166480203,"gmtCreate":1624022517202,"gmtModify":1634023995619,"author":{"id":"3565951516983876","authorId":"3565951516983876","name":"Whyandwhynot","avatar":"https://static.tigerbbs.com/1c1b86e70178e57c45cdafdbcce886c6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3565951516983876","authorIdStr":"3565951516983876"},"themes":[],"htmlText":"Anyone has any insights on the 3 stocks?&nbsp;","listText":"Anyone has any insights on the 3 stocks?&nbsp;","text":"Anyone has any insights on the 3 stocks?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166480203","repostId":"2144946726","repostType":4,"isVote":1,"tweetType":1,"viewCount":1735,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":114632638,"gmtCreate":1623071678724,"gmtModify":1634037296898,"author":{"id":"3565951516983876","authorId":"3565951516983876","name":"Whyandwhynot","avatar":"https://static.tigerbbs.com/1c1b86e70178e57c45cdafdbcce886c6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3565951516983876","authorIdStr":"3565951516983876"},"themes":[],"htmlText":"If it’s true the impact would be short term&nbsp;","listText":"If it’s true the impact would be short term&nbsp;","text":"If it’s true the impact would be short term","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/114632638","repostId":"1122556332","repostType":4,"isVote":1,"tweetType":1,"viewCount":1549,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":111989976,"gmtCreate":1622648881595,"gmtModify":1634099566277,"author":{"id":"3565951516983876","authorId":"3565951516983876","name":"Whyandwhynot","avatar":"https://static.tigerbbs.com/1c1b86e70178e57c45cdafdbcce886c6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3565951516983876","authorIdStr":"3565951516983876"},"themes":[],"htmlText":"Hmm it says slow down….","listText":"Hmm it says slow down….","text":"Hmm it says slow down….","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/111989976","repostId":"1184181912","repostType":4,"repost":{"id":"1184181912","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":1622589761,"share":"https://www.laohu8.com/m/news/1184181912?lang=zh_CN&edition=full","pubTime":"2021-06-02 07:22","market":"hk","language":"en","title":"Zoom reports blowout earnings but warns of a coming slowdown<blockquote>Zoom报告盈利井喷，但警告即将放缓</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1184181912","media":"Tiger Newspress","summary":"Zoomreported better-than-expected first-quarter results Tuesday, with sales growth of 191%. The shar","content":"<p>Zoomreported better-than-expected first-quarter results Tuesday, with sales growth of 191%. The shares rose 4% in extended trading after initially falling as much as 5% as the company showed signs of a looming slowdown.<img src=\"https://static.tigerbbs.com/b1b99facf2971e24b0cf0b93e9021c5a\" tg-width=\"692\" tg-height=\"527\">Here’s how the company did:</p><p><blockquote>Zoom周二公布的第一季度业绩好于预期，销售额增长191%。由于该公司显示出即将放缓的迹象，该股最初下跌5%，随后在盘后交易中上涨4%。该公司的做法如下：</blockquote></p><p> <ul>  <li><b>Earnings:</b>$1.32 per share, adjusted, vs. 99 cents per share as expected by analysts, according to Refinitiv.</li>  <li><b>Revenue:</b>$956.2 million, vs. $906.0 million as expected by analysts, according to Refinitiv.</li> </ul> Revenue in the quarter, which ended on April 30, jumped from $328.2 million a year earlier, according to astatement. In the previous quarter revenuerose 369%as <a href=\"https://laohu8.com/S/ZM\">Zoom</a> lapped the onset of the coronavirus pandemic in the U.S., which brought inmillions of new users.<img src=\"https://static.tigerbbs.com/402d4ca1cb0a713d00d91053cedc620f\" tg-width=\"890\" tg-height=\"445\">The company’s gross margin widened to 73.9% from 69.4% in the previous quarter, primarily because of optimization of public-cloud resources, the company said. Zoom said its Zoom Phone product, including cloud-based phone services along with video calls and other capabilities, had 1.5 million seats at the end of April, up from1 millionin January.</p><p><blockquote><ul><li><b>收益：</b>根据Refinitiv的数据，调整后每股1.32美元，而分析师预期为每股99美分。</li><li><b>收入：</b>根据Refinitiv的数据，为9.562亿美元，而分析师预期为9.06亿美元。</li></ul>根据一份声明，截至4月30日的季度收入较去年同期的3.282亿美元跃升。上一季度收入增长369%<a href=\"https://laohu8.com/S/ZM\">Zoom</a>冠状病毒疫情在美国爆发，带来了数百万新用户。该公司表示，该公司的毛利率从上一季度的69.4%扩大至73.9%，这主要是由于公有云资源的优化。Zoom表示，其Zoom Phone产品包括基于云的电话服务以及视频评级和其他功能，截至4月底拥有150万个座位，高于1月份的100万个。</blockquote></p><p> Zoom said it expects $1.14 to $1.15 in adjusted earnings per share on $985 million to $990 million in revenue in the fiscal second quarter. Analysts polled by Refinitiv had expected adjusted earnings of 94 cents per share and $931.8 million in revenue.</p><p><blockquote>Zoom表示，预计第二财季调整后每股收益为1.14美元至1.15美元，营收为9.85亿美元至9.9亿美元。Refinitiv调查的分析师此前预计调整后每股收益为94美分，营收为9.318亿美元。</blockquote></p><p> For the full 2022 fiscal year, Zoom now sees $4.56 to $4.61 in adjusted earnings per share and $3.98 billion to $3.99 billion in revenue. Analysts polled by Refinitiv had been looking for $3.76 in adjusted earnings per share and $3.8 billion in revenue.</p><p><blockquote>Zoom目前预计2022财年全年调整后每股收益为4.56美元至4.61美元，营收为39.8亿美元至39.9亿美元。Refinitiv调查的分析师此前预计调整后每股收益为3.76美元，营收为38亿美元。</blockquote></p><p> Notwithstanding the after-hours move, shares of Zoom have fallen about 3% since the start of 2021, while the S&amp;P 500 index is up nearly 12% over the same period.</p><p><blockquote>尽管盘后走势，Zoom股价自2021年初以来已下跌约3%，而标普500指数同期上涨近12%。</blockquote></p><p> During the quarter, Zoom announcedenhancements to its Zoom Rooms offeringfor meeting locations, as well as a$100 million venture-capital fund.</p><p><blockquote>本季度，Zoom宣布增强其Zoom Rooms会议地点产品，并设立1亿美元的风险投资基金。</blockquote></p><p> Executives will discuss the results with analysts on a Zoom call starting at 5 p.m. ET.</p><p><blockquote>高管们将于下午5点开始在Zoom看涨期权上与分析师讨论结果。等。</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>Zoom reports blowout earnings but warns of a coming slowdown<blockquote>Zoom报告盈利井喷，但警告即将放缓</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nZoom reports blowout earnings but warns of a coming slowdown<blockquote>Zoom报告盈利井喷，但警告即将放缓</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 07:22</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Zoomreported better-than-expected first-quarter results Tuesday, with sales growth of 191%. The shares rose 4% in extended trading after initially falling as much as 5% as the company showed signs of a looming slowdown.<img src=\"https://static.tigerbbs.com/b1b99facf2971e24b0cf0b93e9021c5a\" tg-width=\"692\" tg-height=\"527\">Here’s how the company did:</p><p><blockquote>Zoom周二公布的第一季度业绩好于预期，销售额增长191%。由于该公司显示出即将放缓的迹象，该股最初下跌5%，随后在盘后交易中上涨4%。该公司的做法如下：</blockquote></p><p> <ul>  <li><b>Earnings:</b>$1.32 per share, adjusted, vs. 99 cents per share as expected by analysts, according to Refinitiv.</li>  <li><b>Revenue:</b>$956.2 million, vs. $906.0 million as expected by analysts, according to Refinitiv.</li> </ul> Revenue in the quarter, which ended on April 30, jumped from $328.2 million a year earlier, according to astatement. In the previous quarter revenuerose 369%as <a href=\"https://laohu8.com/S/ZM\">Zoom</a> lapped the onset of the coronavirus pandemic in the U.S., which brought inmillions of new users.<img src=\"https://static.tigerbbs.com/402d4ca1cb0a713d00d91053cedc620f\" tg-width=\"890\" tg-height=\"445\">The company’s gross margin widened to 73.9% from 69.4% in the previous quarter, primarily because of optimization of public-cloud resources, the company said. Zoom said its Zoom Phone product, including cloud-based phone services along with video calls and other capabilities, had 1.5 million seats at the end of April, up from1 millionin January.</p><p><blockquote><ul><li><b>收益：</b>根据Refinitiv的数据，调整后每股1.32美元，而分析师预期为每股99美分。</li><li><b>收入：</b>根据Refinitiv的数据，为9.562亿美元，而分析师预期为9.06亿美元。</li></ul>根据一份声明，截至4月30日的季度收入较去年同期的3.282亿美元跃升。上一季度收入增长369%<a href=\"https://laohu8.com/S/ZM\">Zoom</a>冠状病毒疫情在美国爆发，带来了数百万新用户。该公司表示，该公司的毛利率从上一季度的69.4%扩大至73.9%，这主要是由于公有云资源的优化。Zoom表示，其Zoom Phone产品包括基于云的电话服务以及视频评级和其他功能，截至4月底拥有150万个座位，高于1月份的100万个。</blockquote></p><p> Zoom said it expects $1.14 to $1.15 in adjusted earnings per share on $985 million to $990 million in revenue in the fiscal second quarter. Analysts polled by Refinitiv had expected adjusted earnings of 94 cents per share and $931.8 million in revenue.</p><p><blockquote>Zoom表示，预计第二财季调整后每股收益为1.14美元至1.15美元，营收为9.85亿美元至9.9亿美元。Refinitiv调查的分析师此前预计调整后每股收益为94美分，营收为9.318亿美元。</blockquote></p><p> For the full 2022 fiscal year, Zoom now sees $4.56 to $4.61 in adjusted earnings per share and $3.98 billion to $3.99 billion in revenue. Analysts polled by Refinitiv had been looking for $3.76 in adjusted earnings per share and $3.8 billion in revenue.</p><p><blockquote>Zoom目前预计2022财年全年调整后每股收益为4.56美元至4.61美元，营收为39.8亿美元至39.9亿美元。Refinitiv调查的分析师此前预计调整后每股收益为3.76美元，营收为38亿美元。</blockquote></p><p> Notwithstanding the after-hours move, shares of Zoom have fallen about 3% since the start of 2021, while the S&amp;P 500 index is up nearly 12% over the same period.</p><p><blockquote>尽管盘后走势，Zoom股价自2021年初以来已下跌约3%，而标普500指数同期上涨近12%。</blockquote></p><p> During the quarter, Zoom announcedenhancements to its Zoom Rooms offeringfor meeting locations, as well as a$100 million venture-capital fund.</p><p><blockquote>本季度，Zoom宣布增强其Zoom Rooms会议地点产品，并设立1亿美元的风险投资基金。</blockquote></p><p> Executives will discuss the results with analysts on a Zoom call starting at 5 p.m. ET.</p><p><blockquote>高管们将于下午5点开始在Zoom看涨期权上与分析师讨论结果。等。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZM":"Zoom"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184181912","content_text":"Zoomreported better-than-expected first-quarter results Tuesday, with sales growth of 191%. The shares rose 4% in extended trading after initially falling as much as 5% as the company showed signs of a looming slowdown.Here’s how the company did:\n\nEarnings:$1.32 per share, adjusted, vs. 99 cents per share as expected by analysts, according to Refinitiv.\nRevenue:$956.2 million, vs. $906.0 million as expected by analysts, according to Refinitiv.\n\nRevenue in the quarter, which ended on April 30, jumped from $328.2 million a year earlier, according to astatement. In the previous quarter revenuerose 369%as Zoom lapped the onset of the coronavirus pandemic in the U.S., which brought inmillions of new users.The company’s gross margin widened to 73.9% from 69.4% in the previous quarter, primarily because of optimization of public-cloud resources, the company said. Zoom said its Zoom Phone product, including cloud-based phone services along with video calls and other capabilities, had 1.5 million seats at the end of April, up from1 millionin January.\nZoom said it expects $1.14 to $1.15 in adjusted earnings per share on $985 million to $990 million in revenue in the fiscal second quarter. Analysts polled by Refinitiv had expected adjusted earnings of 94 cents per share and $931.8 million in revenue.\nFor the full 2022 fiscal year, Zoom now sees $4.56 to $4.61 in adjusted earnings per share and $3.98 billion to $3.99 billion in revenue. Analysts polled by Refinitiv had been looking for $3.76 in adjusted earnings per share and $3.8 billion in revenue.\nNotwithstanding the after-hours move, shares of Zoom have fallen about 3% since the start of 2021, while the S&P 500 index is up nearly 12% over the same period.\nDuring the quarter, Zoom announcedenhancements to its Zoom Rooms offeringfor meeting locations, as well as a$100 million venture-capital fund.\nExecutives will discuss the results with analysts on a Zoom call starting at 5 p.m. ET.","news_type":1,"symbols_score_info":{"ZM":0.9}},"isVote":1,"tweetType":1,"viewCount":1171,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":194810315,"gmtCreate":1621352740037,"gmtModify":1634192190504,"author":{"id":"3565951516983876","authorId":"3565951516983876","name":"Whyandwhynot","avatar":"https://static.tigerbbs.com/1c1b86e70178e57c45cdafdbcce886c6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3565951516983876","authorIdStr":"3565951516983876"},"themes":[],"htmlText":"Interesting perspective….&nbsp;","listText":"Interesting perspective….&nbsp;","text":"Interesting perspective….","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/194810315","repostId":"1189117782","repostType":4,"isVote":1,"tweetType":1,"viewCount":355,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}