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- iofthetig3riofthetig3r
  ·2021-03-30
  Arche-gos bankrupt!
  非常抱歉，此主贴已删除
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- iofthetig3riofthetig3r
  ·2021-03-25
  When apple fell, Isaac Newton said buy!!!
  非常抱歉，此主贴已删除
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- iofthetig3riofthetig3r
  ·2021-03-25
  Came here for some explanation, left with disappointment
  EV Stocks are slipping<blockquote>电动汽车股票正在下滑</blockquote>
  EV Stocks fall in Wednesday morning trading.The shares of Xpeng Motors is down 6%,Li Auto is down 5%
  EV Stocks are slipping<blockquote>电动汽车股票正在下滑</blockquote>
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- iofthetig3riofthetig3r
  ·2021-03-24
  I give my two cents about ten cents, I left eight cents
  Tencent's quarterly profit jumps 175%, above forecast<blockquote>腾讯控股季度利润跃升175%，高于预期</blockquote>
  Chinese gaming and social media giant Tencent Holdings Ltd on Wednesday reported a forecast-beating
  Tencent's quarterly profit jumps 175%, above forecast<blockquote>腾讯控股季度利润跃升175%，高于预期</blockquote>
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- iofthetig3riofthetig3r
  ·2021-03-17
  Interest rates are of good interest
  What Interest Rate Triggers The Next Crisis?<blockquote>什么利率会引发下一场危机？</blockquote>
  The Ten-year U.S. Treasury note yields 1.61%.10-year high-quality corporate bonds yield 2.09%.The ra
  What Interest Rate Triggers The Next Crisis?<blockquote>什么利率会引发下一场危机？</blockquote>
  2,053 评论
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- iofthetig3riofthetig3r
  ·2021-03-12
  Good read!
  非常抱歉，此主贴已删除
  1,361 评论
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- iofthetig3riofthetig3r
  ·2021-03-11
  Go apple!
  Why Apple Car Is Likely To Follow iPhone's Playbook On Production<blockquote>为什么苹果汽车可能会遵循iPhone的生产策略</blockquote>
  Apple Inc is likely to use an approach similar to one it uses to make the iPhone for manufacturing i
  Why Apple Car Is Likely To Follow iPhone's Playbook On Production<blockquote>为什么苹果汽车可能会遵循iPhone的生产策略</blockquote>
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- iofthetig3riofthetig3r
  ·2021-03-10
  Amazing
  非常抱歉，此主贴已删除
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bankrupt!","listText":"Arche-gos bankrupt!","text":"Arche-gos bankrupt!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/355235837","repostId":"1112608299","repostType":4,"isVote":1,"tweetType":1,"viewCount":2192,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":358879714,"gmtCreate":1616682068938,"gmtModify":1634524574357,"author":{"id":"3574937126943437","authorId":"3574937126943437","name":"iofthetig3r","avatar":"https://static.tigerbbs.com/efea7af528f6130030d0d3fc4bfedf08","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574937126943437","idStr":"3574937126943437"},"themes":[],"htmlText":"When apple fell, Isaac Newton said buy!!!","listText":"When apple fell, Isaac Newton said buy!!!","text":"When apple fell, Isaac Newton said 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trading.The&nbsp;shares&nbsp;of&nbsp;Xpeng Motors is&nbsp;down 6%,Li Auto&nbsp;is down 5%,Nio down 4%,Tesla is&nbsp;down 0.5%.</p><p><blockquote>周三早盘，电动汽车股下跌。小鹏汽车股价下跌6%，理想汽车下跌5%，蔚来下跌4%，特斯拉下跌0.5%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/701e68e04f8fa4a02d3a7706348f1f91\" tg-width=\"374\" tg-height=\"295\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>EV Stocks are slipping<blockquote>电动汽车股票正在下滑</blockquote></title>\n<style 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#7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEV Stocks are slipping<blockquote>电动汽车股票正在下滑</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-03-24 22:08</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>EV Stocks fall in Wednesday morning trading.The&nbsp;shares&nbsp;of&nbsp;Xpeng Motors is&nbsp;down 6%,Li Auto&nbsp;is down 5%,Nio down 4%,Tesla is&nbsp;down 0.5%.</p><p><blockquote>周三早盘，电动汽车股下跌。小鹏汽车股价下跌6%，理想汽车下跌5%，蔚来下跌4%，特斯拉下跌0.5%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/701e68e04f8fa4a02d3a7706348f1f91\" tg-width=\"374\" tg-height=\"295\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XPEV":"小鹏汽车","LI":"理想汽车","TSLA":"特斯拉","NIO":"蔚来"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131811023","content_text":"EV Stocks fall in Wednesday morning trading.The shares of Xpeng Motors is down 6%,Li Auto is down 5%,Nio down 4%,Tesla is down 0.5%.","news_type":1,"symbols_score_info":{"TSLA":0.9,"XPEV":0.9,"LI":0.9,"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":1616,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":351148571,"gmtCreate":1616578794193,"gmtModify":1634525111170,"author":{"id":"3574937126943437","authorId":"3574937126943437","name":"iofthetig3r","avatar":"https://static.tigerbbs.com/efea7af528f6130030d0d3fc4bfedf08","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574937126943437","idStr":"3574937126943437"},"themes":[],"htmlText":"I give my two cents about ten cents, I left eight cents&nbsp;","listText":"I give my two cents about ten cents, I left eight cents&nbsp;","text":"I give my two cents about ten cents, I left eight cents","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/351148571","repostId":"1169203899","repostType":4,"repost":{"id":"1169203899","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":1616575138,"share":"https://www.laohu8.com/m/news/1169203899?lang=zh_CN&edition=full","pubTime":"2021-03-24 16:38","market":"hk","language":"en","title":"Tencent's quarterly profit jumps 175%, above forecast<blockquote>腾讯控股季度利润跃升175%，高于预期</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169203899","media":"Tiger Newspress","summary":"Chinese gaming and social media giant Tencent Holdings Ltd on Wednesday reported a forecast-beating ","content":"<p>Chinese gaming and social media giant Tencent Holdings Ltd on Wednesday reported a forecast-beating 175% rise in quarterly profit.</p><p><blockquote>中国游戏和社交媒体巨头腾讯控股控股有限公司周三公布季度利润增长175%，超出预期。</blockquote></p><p>Tencent Holdings: in 2020, the annual revenue is 482.064 billion yuan, the market is expected to be 480.401 billion yuan, the same period last year is 377.289 billion yuan; in 2020, the annual net profit is 159.85 billion yuan, the market is expected to be 129.226 billion yuan, the same period last year is 93.31 billion yuan; the combined monthly active accounts of wechat and wechat are 1.23 billion yuan; in 2020, the online game revenue increases by 36% to 156.1 billion yuan.</p><p><blockquote>腾讯控股控股：2020年全年营收4820.64亿元，市场预期4804.01亿元，上年同期3772.89亿元；2020年全年净利润1598.5亿元，市场预期1292.26亿元，去年同期933.1亿元；微信、微信合计月活跃账户12.3亿元；2020年，网络游戏收入增长36%至1561亿元。</blockquote></p><p>Tencent's fourth-quarter revenue was 133.67 billion yuan, a year-on-year increase of 26%, basically in line with market expectations. Net profit in the fourth quarter was 59.302 billion yuan, a year-on-year increase of 175%; non-IFRS net profit was 33.207 billion yuan, a year-on-year increase of 30%.</p><p><blockquote>腾讯控股第四季度营收1336.7亿元，同比增长26%，基本符合市场预期。四季度净利润593.02亿元，同比增长175%；非国际财务报告准则净利润332.07亿元，同比增长30%。</blockquote></p><p>In 2020, the revenue of online games will increase by 36% to 156.1 billion yuan; the total revenue of smartphone games and PC client games will be 146.6 billion yuan and 44.6 billion yuan respectively.</p><p><blockquote>2020年，网络游戏收入增长36%至1561亿元；智能手机游戏和PC端游的总收入将分别为1466亿元和446亿元。</blockquote></p><p>qtrly revenues rmb133,669 million versus rmb105,767 million,qtrly profit attributable rmb59,302 million versus rmb21,582 million,revenues from online advertising increased by 15% to rmb24.7 billion for q4 of 2020.</p><p><blockquote>2020年第四季度，季度收入为人民币1,336.69亿元，较人民币1,057.67亿元，季度应占利润为人民币593.02亿元，较人民币215.82亿元，在线广告收入增长15%至人民币247亿元。</blockquote></p><p>Tencent said that the strategic focus of our fintech business is to actively cooperate with regulators, launch compliant and inclusive fintech products with industry partners, and give priority to risk management rather than scale.</p><p><blockquote>腾讯控股表示，我们金融科技业务的战略重点是积极与监管机构合作，与行业伙伴一起推出合规、普惠的金融科技产品，优先考虑风险管理而非规模。</blockquote></p><p><img src=\"https://static.tigerbbs.com/46237e2ef07e8307a381f153a405fbb5\" tg-width=\"1175\" tg-height=\"706\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/70719ea5d884292054cc41597c46870d\" tg-width=\"853\" tg-height=\"683\" referrerpolicy=\"no-referrer\">The following table sets forth  revenues by line of business for the year ended 31 December 2020 and 2019:</p><p><blockquote>下表载列截至2020年及2019年12月31日止年度按业务类别划分的收益：</blockquote></p><p><img src=\"https://static.tigerbbs.com/19d452d37839f74b76938efdc88055b2\" tg-width=\"919\" tg-height=\"380\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>－ Revenues from our VAS business increased by 32% to RMB264.2 billion on a yearon-year basis. Online games revenues grew by 36% to RMB156.1 billion. The increase was primarily driven by revenue growth from our smart phone games in both domestic and overseas markets, particularly from titles such as Peacekeeper Elite, Honour of Kings and PUBG Mobile, as well as the full year effect of Supercell consolidation, while our PC client games revenues decreased slightly. Total smart phone games revenues (including smart phone games revenues attributable to our social networks business) were RMB146.6 billion and PC client games revenues were RMB44.6 billion for the year ended 31 December 2020. Social networks revenues increased by 27% to RMB108.1 billion. The increase was primarily due to the consolidation of HUYA’s live broadcast services, revenue growth from our music and video subscription services, as well as growth from our in-game virtual item sales.</p><p><blockquote>-增值服务业务收入同比增长32%至人民币2,642亿元。网络游戏收入增长36%至人民币1,561亿元。该增长主要是由于我们在国内外市场的智能手机游戏收入增长，特别是来自《和平卫士精英》、《王者荣耀》和《绝地求生》等游戏，以及Supercell整合的全年影响，而我们的PC客户端游戏收入略有下降。截至2020年12月31日止年度，智能手机游戏总收入（包括社交网络业务应佔的智能手机游戏收入）为人民币1,466亿元，PC客户端游戏收入为人民币446亿元。社交网络收入增长27%至人民币1,081亿元。该增加主要是由于合并虎牙的直播服务、音乐及视频订阅服务的收入增长以及游戏内虚拟物品销售的增长。</blockquote></p><p>－ Revenues from our Online Advertising business increased by 20% to RMB82.3 billion on a year-on-year basis, benefitting from our platform integration and upgraded algorithms, along with rising demand from advertiser categories such as education, Internet services and eCommerce platforms. Social and others advertising revenues grew by 29% to RMB68.0 billion. The increase was primarily driven by higher advertising revenues from Weixin (primarily Weixin Moments) as a result of its increased inventories, as well as revenue contributions from our mobile advertising network due to our video format advertisements. Media advertising revenues decreased by 8% to RMB14.3 billion. The decrease mainly reflected lower advertising revenues from Tencent Video amid the challenging macro environment and delays to content productions and launches, partly offset by advertising revenue growth from our music streaming apps.</p><p><blockquote>—受益于平台整合及算法升级，以及教育、互联网服务及电子商务平台等广告主类别需求上升，我们的在线广告业务收入同比增长20%至人民币823亿元。社交及其他广告收入增长29%至人民币680亿元。该增加主要是由于微信（主要是微信朋友圈）的库存增加导致其广告收入增加，以及我们的移动广告网络因我们的视频格式广告带来的收入贡献所推动。媒体广告收入减少8%至人民币143亿元。该下降主要反映了腾讯控股视频的广告收入在充满挑战的宏观环境以及内容制作和发布延迟的情况下下降，但部分被我们音乐流媒体应用的广告收入增长所抵消。</blockquote></p><p>－Revenues from FinTech and Business Services increased by 26% to RMB128.1 billion on a year-on-year basis. The increase primarily reflected higher revenues from commercial payment, wealth management and Cloud Services, driven by our expanded user base and business scale.</p><p><blockquote>-金融科技及商业服务收入同比增长26%至人民币1,281亿元。这一增长主要反映了我们用户群和业务规模扩大推动的商业支付、财富管理和云服务收入增加。</blockquote></p><p><a href=\"https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0324/2021032400488.pdf\" target=\"_blank\">ANNOUNCEMENT OF THE ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2020</a></p><p><blockquote><a href=\"https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0324/2021032400488.pdf\" target=\"_blank\">截至二零二零年十二月三十一日止年度之全年业绩公告</a></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tencent's quarterly profit jumps 175%, above forecast<blockquote>腾讯控股季度利润跃升175%，高于预期</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTencent's quarterly profit jumps 175%, above forecast<blockquote>腾讯控股季度利润跃升175%，高于预期</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-03-24 16:38</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Chinese gaming and social media giant Tencent Holdings Ltd on Wednesday reported a forecast-beating 175% rise in quarterly profit.</p><p><blockquote>中国游戏和社交媒体巨头腾讯控股控股有限公司周三公布季度利润增长175%，超出预期。</blockquote></p><p>Tencent Holdings: in 2020, the annual revenue is 482.064 billion yuan, the market is expected to be 480.401 billion yuan, the same period last year is 377.289 billion yuan; in 2020, the annual net profit is 159.85 billion yuan, the market is expected to be 129.226 billion yuan, the same period last year is 93.31 billion yuan; the combined monthly active accounts of wechat and wechat are 1.23 billion yuan; in 2020, the online game revenue increases by 36% to 156.1 billion yuan.</p><p><blockquote>腾讯控股控股：2020年全年营收4820.64亿元，市场预期4804.01亿元，上年同期3772.89亿元；2020年全年净利润1598.5亿元，市场预期1292.26亿元，去年同期933.1亿元；微信、微信合计月活跃账户12.3亿元；2020年，网络游戏收入增长36%至1561亿元。</blockquote></p><p>Tencent's fourth-quarter revenue was 133.67 billion yuan, a year-on-year increase of 26%, basically in line with market expectations. Net profit in the fourth quarter was 59.302 billion yuan, a year-on-year increase of 175%; non-IFRS net profit was 33.207 billion yuan, a year-on-year increase of 30%.</p><p><blockquote>腾讯控股第四季度营收1336.7亿元，同比增长26%，基本符合市场预期。四季度净利润593.02亿元，同比增长175%；非国际财务报告准则净利润332.07亿元，同比增长30%。</blockquote></p><p>In 2020, the revenue of online games will increase by 36% to 156.1 billion yuan; the total revenue of smartphone games and PC client games will be 146.6 billion yuan and 44.6 billion yuan respectively.</p><p><blockquote>2020年，网络游戏收入增长36%至1561亿元；智能手机游戏和PC端游的总收入将分别为1466亿元和446亿元。</blockquote></p><p>qtrly revenues rmb133,669 million versus rmb105,767 million,qtrly profit attributable rmb59,302 million versus rmb21,582 million,revenues from online advertising increased by 15% to rmb24.7 billion for q4 of 2020.</p><p><blockquote>2020年第四季度，季度收入为人民币1,336.69亿元，较人民币1,057.67亿元，季度应占利润为人民币593.02亿元，较人民币215.82亿元，在线广告收入增长15%至人民币247亿元。</blockquote></p><p>Tencent said that the strategic focus of our fintech business is to actively cooperate with regulators, launch compliant and inclusive fintech products with industry partners, and give priority to risk management rather than scale.</p><p><blockquote>腾讯控股表示，我们金融科技业务的战略重点是积极与监管机构合作，与行业伙伴一起推出合规、普惠的金融科技产品，优先考虑风险管理而非规模。</blockquote></p><p><img src=\"https://static.tigerbbs.com/46237e2ef07e8307a381f153a405fbb5\" tg-width=\"1175\" tg-height=\"706\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/70719ea5d884292054cc41597c46870d\" tg-width=\"853\" tg-height=\"683\" referrerpolicy=\"no-referrer\">The following table sets forth  revenues by line of business for the year ended 31 December 2020 and 2019:</p><p><blockquote>下表载列截至2020年及2019年12月31日止年度按业务类别划分的收益：</blockquote></p><p><img src=\"https://static.tigerbbs.com/19d452d37839f74b76938efdc88055b2\" tg-width=\"919\" tg-height=\"380\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>－ Revenues from our VAS business increased by 32% to RMB264.2 billion on a yearon-year basis. Online games revenues grew by 36% to RMB156.1 billion. The increase was primarily driven by revenue growth from our smart phone games in both domestic and overseas markets, particularly from titles such as Peacekeeper Elite, Honour of Kings and PUBG Mobile, as well as the full year effect of Supercell consolidation, while our PC client games revenues decreased slightly. Total smart phone games revenues (including smart phone games revenues attributable to our social networks business) were RMB146.6 billion and PC client games revenues were RMB44.6 billion for the year ended 31 December 2020. Social networks revenues increased by 27% to RMB108.1 billion. The increase was primarily due to the consolidation of HUYA’s live broadcast services, revenue growth from our music and video subscription services, as well as growth from our in-game virtual item sales.</p><p><blockquote>-增值服务业务收入同比增长32%至人民币2,642亿元。网络游戏收入增长36%至人民币1,561亿元。该增长主要是由于我们在国内外市场的智能手机游戏收入增长，特别是来自《和平卫士精英》、《王者荣耀》和《绝地求生》等游戏，以及Supercell整合的全年影响，而我们的PC客户端游戏收入略有下降。截至2020年12月31日止年度，智能手机游戏总收入（包括社交网络业务应佔的智能手机游戏收入）为人民币1,466亿元，PC客户端游戏收入为人民币446亿元。社交网络收入增长27%至人民币1,081亿元。该增加主要是由于合并虎牙的直播服务、音乐及视频订阅服务的收入增长以及游戏内虚拟物品销售的增长。</blockquote></p><p>－ Revenues from our Online Advertising business increased by 20% to RMB82.3 billion on a year-on-year basis, benefitting from our platform integration and upgraded algorithms, along with rising demand from advertiser categories such as education, Internet services and eCommerce platforms. Social and others advertising revenues grew by 29% to RMB68.0 billion. The increase was primarily driven by higher advertising revenues from Weixin (primarily Weixin Moments) as a result of its increased inventories, as well as revenue contributions from our mobile advertising network due to our video format advertisements. Media advertising revenues decreased by 8% to RMB14.3 billion. The decrease mainly reflected lower advertising revenues from Tencent Video amid the challenging macro environment and delays to content productions and launches, partly offset by advertising revenue growth from our music streaming apps.</p><p><blockquote>—受益于平台整合及算法升级，以及教育、互联网服务及电子商务平台等广告主类别需求上升，我们的在线广告业务收入同比增长20%至人民币823亿元。社交及其他广告收入增长29%至人民币680亿元。该增加主要是由于微信（主要是微信朋友圈）的库存增加导致其广告收入增加，以及我们的移动广告网络因我们的视频格式广告带来的收入贡献所推动。媒体广告收入减少8%至人民币143亿元。该下降主要反映了腾讯控股视频的广告收入在充满挑战的宏观环境以及内容制作和发布延迟的情况下下降，但部分被我们音乐流媒体应用的广告收入增长所抵消。</blockquote></p><p>－Revenues from FinTech and Business Services increased by 26% to RMB128.1 billion on a year-on-year basis. The increase primarily reflected higher revenues from commercial payment, wealth management and Cloud Services, driven by our expanded user base and business scale.</p><p><blockquote>-金融科技及商业服务收入同比增长26%至人民币1,281亿元。这一增长主要反映了我们用户群和业务规模扩大推动的商业支付、财富管理和云服务收入增加。</blockquote></p><p><a href=\"https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0324/2021032400488.pdf\" target=\"_blank\">ANNOUNCEMENT OF THE ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2020</a></p><p><blockquote><a href=\"https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0324/2021032400488.pdf\" target=\"_blank\">截至二零二零年十二月三十一日止年度之全年业绩公告</a></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e7799eeb7043b8caaf3d109c3b13109e","relate_stocks":{"00700":"腾讯控股"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169203899","content_text":"Chinese gaming and social media giant Tencent Holdings Ltd on Wednesday reported a forecast-beating 175% rise in quarterly profit.Tencent Holdings: in 2020, the annual revenue is 482.064 billion yuan, the market is expected to be 480.401 billion yuan, the same period last year is 377.289 billion yuan; in 2020, the annual net profit is 159.85 billion yuan, the market is expected to be 129.226 billion yuan, the same period last year is 93.31 billion yuan; the combined monthly active accounts of wechat and wechat are 1.23 billion yuan; in 2020, the online game revenue increases by 36% to 156.1 billion yuan.Tencent's fourth-quarter revenue was 133.67 billion yuan, a year-on-year increase of 26%, basically in line with market expectations. Net profit in the fourth quarter was 59.302 billion yuan, a year-on-year increase of 175%; non-IFRS net profit was 33.207 billion yuan, a year-on-year increase of 30%.In 2020, the revenue of online games will increase by 36% to 156.1 billion yuan; the total revenue of smartphone games and PC client games will be 146.6 billion yuan and 44.6 billion yuan respectively.qtrly revenues rmb133,669 million versus rmb105,767 million,qtrly profit attributable rmb59,302 million versus rmb21,582 million,revenues from online advertising increased by 15% to rmb24.7 billion for q4 of 2020.Tencent said that the strategic focus of our fintech business is to actively cooperate with regulators, launch compliant and inclusive fintech products with industry partners, and give priority to risk management rather than scale.The following table sets forth  revenues by line of business for the year ended 31 December 2020 and 2019:－ Revenues from our VAS business increased by 32% to RMB264.2 billion on a yearon-year basis. Online games revenues grew by 36% to RMB156.1 billion. The increase was primarily driven by revenue growth from our smart phone games in both domestic and overseas markets, particularly from titles such as Peacekeeper Elite, Honour of Kings and PUBG Mobile, as well as the full year effect of Supercell consolidation, while our PC client games revenues decreased slightly. Total smart phone games revenues (including smart phone games revenues attributable to our social networks business) were RMB146.6 billion and PC client games revenues were RMB44.6 billion for the year ended 31 December 2020. Social networks revenues increased by 27% to RMB108.1 billion. The increase was primarily due to the consolidation of HUYA’s live broadcast services, revenue growth from our music and video subscription services, as well as growth from our in-game virtual item sales.－ Revenues from our Online Advertising business increased by 20% to RMB82.3 billion on a year-on-year basis, benefitting from our platform integration and upgraded algorithms, along with rising demand from advertiser categories such as education, Internet services and eCommerce platforms. Social and others advertising revenues grew by 29% to RMB68.0 billion. The increase was primarily driven by higher advertising revenues from Weixin (primarily Weixin Moments) as a result of its increased inventories, as well as revenue contributions from our mobile advertising network due to our video format advertisements. Media advertising revenues decreased by 8% to RMB14.3 billion. The decrease mainly reflected lower advertising revenues from Tencent Video amid the challenging macro environment and delays to content productions and launches, partly offset by advertising revenue growth from our music streaming apps.－Revenues from FinTech and Business Services increased by 26% to RMB128.1 billion on a year-on-year basis. The increase primarily reflected higher revenues from commercial payment, wealth management and Cloud Services, driven by our expanded user base and business scale.ANNOUNCEMENT OF THE ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2020","news_type":1,"symbols_score_info":{"00700":0.9}},"isVote":1,"tweetType":1,"viewCount":1162,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324269928,"gmtCreate":1615995334164,"gmtModify":1703496185639,"author":{"id":"3574937126943437","authorId":"3574937126943437","name":"iofthetig3r","avatar":"https://static.tigerbbs.com/efea7af528f6130030d0d3fc4bfedf08","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574937126943437","idStr":"3574937126943437"},"themes":[],"htmlText":"Interest rates are of good interest","listText":"Interest rates are of good interest","text":"Interest rates are of good interest","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/324269928","repostId":"1139863038","repostType":4,"repost":{"id":"1139863038","kind":"news","pubTimestamp":1615985802,"share":"https://www.laohu8.com/m/news/1139863038?lang=zh_CN&edition=full","pubTime":"2021-03-17 20:56","market":"us","language":"en","title":"What Interest Rate Triggers The Next Crisis?<blockquote>什么利率会引发下一场危机？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1139863038","media":"zerohedge","summary":"The Ten-year U.S. Treasury note yields 1.61%.10-year high-quality corporate bonds yield 2.09%.The ra","content":"<p><ul><li>The Ten-year U.S. Treasury note yields 1.61%.</li><li>10-year high-quality corporate bonds yield 2.09%.</li><li>The rate on a 30-year mortgage is 3.05%.</li></ul>Despite recent increases, interest rates are hovering near historic lows. &nbsp;We do not use the word “historic” lightly. By “historic,” we refer to the lowest levels since the nation’s birth in 1776.</p><p><blockquote><ul><li>十年期美国国债收益率为1.61%。</li><li>10年期优质公司债收益率2.09%。</li><li>30年期抵押贷款利率为3.05%。</li></ul>尽管最近有所上升，但利率仍徘徊在历史低点附近。我们不会轻易使用“历史性”这个词。我们所说的“历史性”是指自1776年美国诞生以来的最低水平。</blockquote></p><p>The graph below, courtesy of the Visual Capitalist, highlights our point.</p><p><blockquote>下图由视觉资本家提供，强调了我们的观点。</blockquote></p><p><img src=\"https://static.tigerbbs.com/0a42c6bf59aeb11becd8e9ebc5ebcbdc\" tg-width=\"500\" tg-height=\"510\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Despite 300-year lows in interest rates, investors are becoming anxious because they are rising. Recent history shows they should worry. A review of the past 40 years reveals sudden spikes in interest rates and financial problems go hand in hand.</p><p><blockquote>尽管利率处于300年来的低点，但投资者正变得焦虑，因为利率正在上升。最近的历史表明他们应该担心。对过去40年的回顾表明，利率突然飙升和金融问题是齐头并进的。</blockquote></p><p>The question for all investors is how big a spike before the proverbial hits the fan again?</p><p><blockquote>所有投资者面临的问题是，在谚语再次击中风扇之前，峰值会有多大？</blockquote></p><p><b>Debt-Driven Economy</b></p><p><blockquote><b>债务驱动型经济</b></blockquote></p><p>Over the past 40 years, debt has increasingly driven economic growth.</p><p><blockquote>在过去的40年里，债务越来越多地推动了经济增长。</blockquote></p><p>That statement on its own tells us nothing about the health of the economy. To better quantify the benefits or consequences of debt, we need to understand how it was used.</p><p><blockquote>这种说法本身并没有告诉我们任何关于经济健康状况的信息。为了更好地量化债务的好处或后果，我们需要了解它是如何被使用的。</blockquote></p><p>When debt is used productively, the interest and principal are covered with higher profits and sustained economic activity. Even better, income beyond the cost of the debt makes the nation more prosperous.</p><p><blockquote>当债务得到有效利用时，利息和本金就会被更高的利润和持续的经济活动所覆盖。更好的是，超过债务成本的收入使国家更加繁荣。</blockquote></p><p>Conversely, unproductive debt may provide a one-time spark of economic activity, but it yields little to no residual income to service it going forward. Ultimately it creates an economic headwind as servicing the debt in the future replaces productive investment and or consumption.</p><p><blockquote>相反，非生产性债务可能会为经济活动提供一次性火花，但它几乎不会产生甚至没有剩余收入来为未来服务。最终，它会造成经济阻力，因为未来的偿债取代了生产性投资和/或消费。</blockquote></p><p>The graph below shows the steadily rising ratio of total outstanding debt to GDP. If debt, in aggregate, were productive, the ratio would be declining regardless of the amount of debt.</p><p><blockquote>下图显示了未偿债务总额与GDP的比率稳步上升。如果债务总体上是生产性的，那么无论债务金额多少，该比率都会下降。</blockquote></p><p><img src=\"https://static.tigerbbs.com/94098681db0a5b7f7f636d502f8bb5b1\" tg-width=\"500\" tg-height=\"262\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>U.S. Economic Fragility</b></p><p><blockquote><b>美国经济脆弱性</b></blockquote></p><p>As shown above, the U.S. economy is overly dependent on unproductive debt. Not surprisingly, secular growth rates have been trending lower for three decades. The massive amount of unproductive debt added in the last year will only further reduce future growth rates.</p><p><blockquote>如上所示，美国经济过度依赖非生产性债务。毫不奇怪，三十年来，长期增长率一直呈下降趋势。去年增加的大量不良债务只会进一步降低未来的增长率。</blockquote></p><p>The Fed is keenly aware of this weakness but refuses to acknowledge the problem or incentivize productive debt. Instead, they tout the temporary economic benefits of more debt with exceedingly low interest rates. In doing so, they egg on speculation and consumption, not productive debt.</p><p><blockquote>美联储敏锐地意识到这一弱点，但拒绝承认问题或激励生产性债务。相反，他们以极低的利率吹捧更多债务的暂时经济效益。这样做，他们助长了投机和消费，而不是生产性债务。</blockquote></p><p>In&nbsp;Wicksell’s Elegant Model&nbsp;we stated:&nbsp;<i>“On the other hand, if market rates of interest are held abnormally below the natural rate, then capital allocation decisions are not made on the basis of marginal efficiency but according to the average return on invested capital. This explains why, in those periods, more speculative assets such as stocks and real estate boom.”</i></p><p><blockquote>在Wicksell的优雅模型中，我们指出：<i>“另一方面，如果市场利率异常地保持在自然利率以下，那么资本配置决策就不是基于边际效率而是根据投资资本的平均回报率来做出的。这就解释了为什么在那些时期，股票和房地产等投机性资产会蓬勃发展。”</i></blockquote></p><p><i>“But when short-term market rates are below the natural rate, intelligent investors respond appropriately. They borrow heavily at the low rate and buy existing assets with somewhat predictable returns and shorter time horizons. Financial assets skyrocket in value while long-term, cash-flow driven investments with riskier prospects languish.”</i></p><p><blockquote><i>“但当短期市场利率低于自然利率时，聪明的投资者会做出适当的反应。他们以低利率大量借贷，购买回报可预测、期限较短的现有资产。金融资产价值飙升，而长期、现金流驱动、风险较高的投资则萎靡不振。”</i></blockquote></p><p>Simply, the Fed’s policy is to keep the party going without worrying about tomorrow’s hangover. As they have shown, the hair of the dog – more debt, helps keep the party going tomorrow. Unfortunately, the cost of such reckless policy is the nation’s financial fragility.</p><p><blockquote>简单地说，美联储的政策是让派对继续进行，而不用担心明天的宿醉。正如他们所展示的，狗的毛发——更多的债务——有助于明天的派对继续进行。不幸的是，这种鲁莽政策的代价是国家的财政脆弱性。</blockquote></p><p><b>Evidence of this condition is quite apparent. Currently, investors are fretting about higher interest rates despite the fact they have only risen to the lowest levels of the past 300 years.</b></p><p><blockquote><b>这种情况的证据非常明显。目前，投资者对利率上升感到担忧，尽管利率仅升至过去300年来的最低水平。</b></blockquote></p><p><b>Measuring Fragility</b></p><p><blockquote><b>测量脆性</b></blockquote></p><p>Looking back over the last 40 years reveals a troubling problem. Every time interest rates reach the upper end of its downward trend, a financial crisis of sorts occurred. The graph below charts the steady decline in rates and GDP along with the various crisis occurring when rates temporarily rose.</p><p><blockquote>回顾过去的40年，揭示了一个令人不安的问题。每当利率达到下降趋势的上限时，就会发生某种金融危机。下图显示了利率和GDP的稳步下降，以及利率暂时上升时发生的各种危机。</blockquote></p><p><img src=\"https://static.tigerbbs.com/2f3e6cab01875fa2adb0d0b76e8921c2\" tg-width=\"500\" tg-height=\"320\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Given crises frequently occur when rates rise sharply, we should contemplate how high rates can rise before the next crisis</b>. Notice, as time goes on it takes less and less of a rate increase to generate a problem. The reason, as highlighted earlier, is the growth of debt outpaces the ability to pay for it.</p><p><blockquote><b>鉴于利率急剧上升时经常发生危机，我们应该考虑在下一次危机之前利率可以上升到多高</b>请注意，随着时间的推移，产生问题的速率增加越来越少。如前所述，原因是债务的增长超过了偿还能力。</blockquote></p><p>To quantify how much more rates can rise, we present the graph below. The red shaded area in the chart is a proxy calculation for the change in the interest expense on all debt. We calculate the change using debt outstanding, one-year change in interest rates, and GDP. We normalize the data to the size of the economy.</p><p><blockquote>为了量化利率还能上升多少，我们展示了下图。图表中的红色阴影区域是所有债务利息支出变化的代理计算。我们使用未偿债务、一年期利率变化和GDP来计算变化。我们将数据归一化到经济规模。</blockquote></p><p></p><p>The current one-year change in the proxy interest expense is up 3.50% from a year ago. As shown, the last two significant crises (2000 and 2008), along with a few minor ones, all happened when the proxy rose between three and four percent.</p><p><blockquote>目前代理利息支出的一年变化比一年前增长了3.50%。如图所示，最近两次重大危机（2000年和2008年）以及一些小危机都发生在代理指数上涨3%到4%的时候。</blockquote></p><p><img src=\"https://static.tigerbbs.com/89a7414aad88e5ed6269e7910d64ee0c\" tg-width=\"500\" tg-height=\"320\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>If Ten-year UST yields increase to 2.0% (currently 1.60%) by May, the proxy will increase to 5.25%, well above the 4.0% that popped the dot com and housing bubbles.</p><p><blockquote>如果10年期UST收益率到5月份升至2.0%（目前为1.60%），该指标将升至5.25%，远高于互联网和房地产泡沫破裂时的4.0%。</blockquote></p><p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p>The proxy interest expense model is far from perfect, but it provides evidence the threshold of pain to withstand higher rates is small.</p><p><blockquote>代理利息支出模型远非完美，但它提供了承受更高利率的痛苦阈值很小的证据。</blockquote></p><p>If the Ten-year UST rate increases to 1.75% by April, the proxy interest expense will exceed all peak levels since 1990.&nbsp; However, this time, massive fiscal stimulus, monetary operations, and economic reopening may mask the rise in rates for a little while, allowing them to rise further.</p><p><blockquote>如果10年期UST利率到4月份升至1.75%，代理利息支出将超过1990年以来的所有峰值水平。然而，这一次，大规模的财政刺激、货币操作和经济重新开放可能会暂时掩盖利率的上升，使其进一步上升。</blockquote></p><p>Like every other time rates rose “too much,” a crisis will occur if rates keep increasing. It seems the only question is when the Fed will come running to the rescue as they always do.</p><p><blockquote>就像其他时候利率上升“太多”一样，如果利率继续上升，就会发生危机。似乎唯一的问题是美联储何时会像往常一样出手救援。</blockquote></p><p><b>Buckle up, the math says a crisis may be closer than anyone imagines.</b></p><p><blockquote><b>系好安全带，数学表明危机可能比任何人想象的都要近。</b></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 Interest Rate Triggers The Next Crisis?<blockquote>什么利率会引发下一场危机？</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\">\nWhat Interest Rate Triggers The Next Crisis?<blockquote>什么利率会引发下一场危机？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-03-17 20:56</span>\n</p>\n</h4>\n</header>\n<article>\n<p><ul><li>The Ten-year U.S. Treasury note yields 1.61%.</li><li>10-year high-quality corporate bonds yield 2.09%.</li><li>The rate on a 30-year mortgage is 3.05%.</li></ul>Despite recent increases, interest rates are hovering near historic lows. &nbsp;We do not use the word “historic” lightly. By “historic,” we refer to the lowest levels since the nation’s birth in 1776.</p><p><blockquote><ul><li>十年期美国国债收益率为1.61%。</li><li>10年期优质公司债收益率2.09%。</li><li>30年期抵押贷款利率为3.05%。</li></ul>尽管最近有所上升，但利率仍徘徊在历史低点附近。我们不会轻易使用“历史性”这个词。我们所说的“历史性”是指自1776年美国诞生以来的最低水平。</blockquote></p><p>The graph below, courtesy of the Visual Capitalist, highlights our point.</p><p><blockquote>下图由视觉资本家提供，强调了我们的观点。</blockquote></p><p><img src=\"https://static.tigerbbs.com/0a42c6bf59aeb11becd8e9ebc5ebcbdc\" tg-width=\"500\" tg-height=\"510\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Despite 300-year lows in interest rates, investors are becoming anxious because they are rising. Recent history shows they should worry. A review of the past 40 years reveals sudden spikes in interest rates and financial problems go hand in hand.</p><p><blockquote>尽管利率处于300年来的低点，但投资者正变得焦虑，因为利率正在上升。最近的历史表明他们应该担心。对过去40年的回顾表明，利率突然飙升和金融问题是齐头并进的。</blockquote></p><p>The question for all investors is how big a spike before the proverbial hits the fan again?</p><p><blockquote>所有投资者面临的问题是，在谚语再次击中风扇之前，峰值会有多大？</blockquote></p><p><b>Debt-Driven Economy</b></p><p><blockquote><b>债务驱动型经济</b></blockquote></p><p>Over the past 40 years, debt has increasingly driven economic growth.</p><p><blockquote>在过去的40年里，债务越来越多地推动了经济增长。</blockquote></p><p>That statement on its own tells us nothing about the health of the economy. To better quantify the benefits or consequences of debt, we need to understand how it was used.</p><p><blockquote>这种说法本身并没有告诉我们任何关于经济健康状况的信息。为了更好地量化债务的好处或后果，我们需要了解它是如何被使用的。</blockquote></p><p>When debt is used productively, the interest and principal are covered with higher profits and sustained economic activity. Even better, income beyond the cost of the debt makes the nation more prosperous.</p><p><blockquote>当债务得到有效利用时，利息和本金就会被更高的利润和持续的经济活动所覆盖。更好的是，超过债务成本的收入使国家更加繁荣。</blockquote></p><p>Conversely, unproductive debt may provide a one-time spark of economic activity, but it yields little to no residual income to service it going forward. Ultimately it creates an economic headwind as servicing the debt in the future replaces productive investment and or consumption.</p><p><blockquote>相反，非生产性债务可能会为经济活动提供一次性火花，但它几乎不会产生甚至没有剩余收入来为未来服务。最终，它会造成经济阻力，因为未来的偿债取代了生产性投资和/或消费。</blockquote></p><p>The graph below shows the steadily rising ratio of total outstanding debt to GDP. If debt, in aggregate, were productive, the ratio would be declining regardless of the amount of debt.</p><p><blockquote>下图显示了未偿债务总额与GDP的比率稳步上升。如果债务总体上是生产性的，那么无论债务金额多少，该比率都会下降。</blockquote></p><p><img src=\"https://static.tigerbbs.com/94098681db0a5b7f7f636d502f8bb5b1\" tg-width=\"500\" tg-height=\"262\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>U.S. Economic Fragility</b></p><p><blockquote><b>美国经济脆弱性</b></blockquote></p><p>As shown above, the U.S. economy is overly dependent on unproductive debt. Not surprisingly, secular growth rates have been trending lower for three decades. The massive amount of unproductive debt added in the last year will only further reduce future growth rates.</p><p><blockquote>如上所示，美国经济过度依赖非生产性债务。毫不奇怪，三十年来，长期增长率一直呈下降趋势。去年增加的大量不良债务只会进一步降低未来的增长率。</blockquote></p><p>The Fed is keenly aware of this weakness but refuses to acknowledge the problem or incentivize productive debt. Instead, they tout the temporary economic benefits of more debt with exceedingly low interest rates. In doing so, they egg on speculation and consumption, not productive debt.</p><p><blockquote>美联储敏锐地意识到这一弱点，但拒绝承认问题或激励生产性债务。相反，他们以极低的利率吹捧更多债务的暂时经济效益。这样做，他们助长了投机和消费，而不是生产性债务。</blockquote></p><p>In&nbsp;Wicksell’s Elegant Model&nbsp;we stated:&nbsp;<i>“On the other hand, if market rates of interest are held abnormally below the natural rate, then capital allocation decisions are not made on the basis of marginal efficiency but according to the average return on invested capital. This explains why, in those periods, more speculative assets such as stocks and real estate boom.”</i></p><p><blockquote>在Wicksell的优雅模型中，我们指出：<i>“另一方面，如果市场利率异常地保持在自然利率以下，那么资本配置决策就不是基于边际效率而是根据投资资本的平均回报率来做出的。这就解释了为什么在那些时期，股票和房地产等投机性资产会蓬勃发展。”</i></blockquote></p><p><i>“But when short-term market rates are below the natural rate, intelligent investors respond appropriately. They borrow heavily at the low rate and buy existing assets with somewhat predictable returns and shorter time horizons. Financial assets skyrocket in value while long-term, cash-flow driven investments with riskier prospects languish.”</i></p><p><blockquote><i>“但当短期市场利率低于自然利率时，聪明的投资者会做出适当的反应。他们以低利率大量借贷，购买回报可预测、期限较短的现有资产。金融资产价值飙升，而长期、现金流驱动、风险较高的投资则萎靡不振。”</i></blockquote></p><p>Simply, the Fed’s policy is to keep the party going without worrying about tomorrow’s hangover. As they have shown, the hair of the dog – more debt, helps keep the party going tomorrow. Unfortunately, the cost of such reckless policy is the nation’s financial fragility.</p><p><blockquote>简单地说，美联储的政策是让派对继续进行，而不用担心明天的宿醉。正如他们所展示的，狗的毛发——更多的债务——有助于明天的派对继续进行。不幸的是，这种鲁莽政策的代价是国家的财政脆弱性。</blockquote></p><p><b>Evidence of this condition is quite apparent. Currently, investors are fretting about higher interest rates despite the fact they have only risen to the lowest levels of the past 300 years.</b></p><p><blockquote><b>这种情况的证据非常明显。目前，投资者对利率上升感到担忧，尽管利率仅升至过去300年来的最低水平。</b></blockquote></p><p><b>Measuring Fragility</b></p><p><blockquote><b>测量脆性</b></blockquote></p><p>Looking back over the last 40 years reveals a troubling problem. Every time interest rates reach the upper end of its downward trend, a financial crisis of sorts occurred. The graph below charts the steady decline in rates and GDP along with the various crisis occurring when rates temporarily rose.</p><p><blockquote>回顾过去的40年，揭示了一个令人不安的问题。每当利率达到下降趋势的上限时，就会发生某种金融危机。下图显示了利率和GDP的稳步下降，以及利率暂时上升时发生的各种危机。</blockquote></p><p><img src=\"https://static.tigerbbs.com/2f3e6cab01875fa2adb0d0b76e8921c2\" tg-width=\"500\" tg-height=\"320\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Given crises frequently occur when rates rise sharply, we should contemplate how high rates can rise before the next crisis</b>. Notice, as time goes on it takes less and less of a rate increase to generate a problem. The reason, as highlighted earlier, is the growth of debt outpaces the ability to pay for it.</p><p><blockquote><b>鉴于利率急剧上升时经常发生危机，我们应该考虑在下一次危机之前利率可以上升到多高</b>请注意，随着时间的推移，产生问题的速率增加越来越少。如前所述，原因是债务的增长超过了偿还能力。</blockquote></p><p>To quantify how much more rates can rise, we present the graph below. The red shaded area in the chart is a proxy calculation for the change in the interest expense on all debt. We calculate the change using debt outstanding, one-year change in interest rates, and GDP. We normalize the data to the size of the economy.</p><p><blockquote>为了量化利率还能上升多少，我们展示了下图。图表中的红色阴影区域是所有债务利息支出变化的代理计算。我们使用未偿债务、一年期利率变化和GDP来计算变化。我们将数据归一化到经济规模。</blockquote></p><p></p><p>The current one-year change in the proxy interest expense is up 3.50% from a year ago. As shown, the last two significant crises (2000 and 2008), along with a few minor ones, all happened when the proxy rose between three and four percent.</p><p><blockquote>目前代理利息支出的一年变化比一年前增长了3.50%。如图所示，最近两次重大危机（2000年和2008年）以及一些小危机都发生在代理指数上涨3%到4%的时候。</blockquote></p><p><img src=\"https://static.tigerbbs.com/89a7414aad88e5ed6269e7910d64ee0c\" tg-width=\"500\" tg-height=\"320\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>If Ten-year UST yields increase to 2.0% (currently 1.60%) by May, the proxy will increase to 5.25%, well above the 4.0% that popped the dot com and housing bubbles.</p><p><blockquote>如果10年期UST收益率到5月份升至2.0%（目前为1.60%），该指标将升至5.25%，远高于互联网和房地产泡沫破裂时的4.0%。</blockquote></p><p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p>The proxy interest expense model is far from perfect, but it provides evidence the threshold of pain to withstand higher rates is small.</p><p><blockquote>代理利息支出模型远非完美，但它提供了承受更高利率的痛苦阈值很小的证据。</blockquote></p><p>If the Ten-year UST rate increases to 1.75% by April, the proxy interest expense will exceed all peak levels since 1990.&nbsp; However, this time, massive fiscal stimulus, monetary operations, and economic reopening may mask the rise in rates for a little while, allowing them to rise further.</p><p><blockquote>如果10年期UST利率到4月份升至1.75%，代理利息支出将超过1990年以来的所有峰值水平。然而，这一次，大规模的财政刺激、货币操作和经济重新开放可能会暂时掩盖利率的上升，使其进一步上升。</blockquote></p><p>Like every other time rates rose “too much,” a crisis will occur if rates keep increasing. It seems the only question is when the Fed will come running to the rescue as they always do.</p><p><blockquote>就像其他时候利率上升“太多”一样，如果利率继续上升，就会发生危机。似乎唯一的问题是美联储何时会像往常一样出手救援。</blockquote></p><p><b>Buckle up, the math says a crisis may be closer than anyone imagines.</b></p><p><blockquote><b>系好安全带，数学表明危机可能比任何人想象的都要近。</b></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/what-interest-rate-triggers-next-crisis?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">zerohedge</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":{"SPY":"标普500ETF",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.zerohedge.com/markets/what-interest-rate-triggers-next-crisis?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139863038","content_text":"The Ten-year U.S. Treasury note yields 1.61%.10-year high-quality corporate bonds yield 2.09%.The rate on a 30-year mortgage is 3.05%.Despite recent increases, interest rates are hovering near historic lows.  We do not use the word “historic” lightly. By “historic,” we refer to the lowest levels since the nation’s birth in 1776.The graph below, courtesy of the Visual Capitalist, highlights our point.Despite 300-year lows in interest rates, investors are becoming anxious because they are rising. Recent history shows they should worry. A review of the past 40 years reveals sudden spikes in interest rates and financial problems go hand in hand.The question for all investors is how big a spike before the proverbial hits the fan again?Debt-Driven EconomyOver the past 40 years, debt has increasingly driven economic growth.That statement on its own tells us nothing about the health of the economy. To better quantify the benefits or consequences of debt, we need to understand how it was used.When debt is used productively, the interest and principal are covered with higher profits and sustained economic activity. Even better, income beyond the cost of the debt makes the nation more prosperous.Conversely, unproductive debt may provide a one-time spark of economic activity, but it yields little to no residual income to service it going forward. Ultimately it creates an economic headwind as servicing the debt in the future replaces productive investment and or consumption.The graph below shows the steadily rising ratio of total outstanding debt to GDP. If debt, in aggregate, were productive, the ratio would be declining regardless of the amount of debt.U.S. Economic FragilityAs shown above, the U.S. economy is overly dependent on unproductive debt. Not surprisingly, secular growth rates have been trending lower for three decades. The massive amount of unproductive debt added in the last year will only further reduce future growth rates.The Fed is keenly aware of this weakness but refuses to acknowledge the problem or incentivize productive debt. Instead, they tout the temporary economic benefits of more debt with exceedingly low interest rates. In doing so, they egg on speculation and consumption, not productive debt.In Wicksell’s Elegant Model we stated: “On the other hand, if market rates of interest are held abnormally below the natural rate, then capital allocation decisions are not made on the basis of marginal efficiency but according to the average return on invested capital. This explains why, in those periods, more speculative assets such as stocks and real estate boom.”“But when short-term market rates are below the natural rate, intelligent investors respond appropriately. They borrow heavily at the low rate and buy existing assets with somewhat predictable returns and shorter time horizons. Financial assets skyrocket in value while long-term, cash-flow driven investments with riskier prospects languish.”Simply, the Fed’s policy is to keep the party going without worrying about tomorrow’s hangover. As they have shown, the hair of the dog – more debt, helps keep the party going tomorrow. Unfortunately, the cost of such reckless policy is the nation’s financial fragility.Evidence of this condition is quite apparent. Currently, investors are fretting about higher interest rates despite the fact they have only risen to the lowest levels of the past 300 years.Measuring FragilityLooking back over the last 40 years reveals a troubling problem. Every time interest rates reach the upper end of its downward trend, a financial crisis of sorts occurred. The graph below charts the steady decline in rates and GDP along with the various crisis occurring when rates temporarily rose.Given crises frequently occur when rates rise sharply, we should contemplate how high rates can rise before the next crisis. Notice, as time goes on it takes less and less of a rate increase to generate a problem. The reason, as highlighted earlier, is the growth of debt outpaces the ability to pay for it.To quantify how much more rates can rise, we present the graph below. The red shaded area in the chart is a proxy calculation for the change in the interest expense on all debt. We calculate the change using debt outstanding, one-year change in interest rates, and GDP. We normalize the data to the size of the economy.The current one-year change in the proxy interest expense is up 3.50% from a year ago. As shown, the last two significant crises (2000 and 2008), along with a few minor ones, all happened when the proxy rose between three and four percent.If Ten-year UST yields increase to 2.0% (currently 1.60%) by May, the proxy will increase to 5.25%, well above the 4.0% that popped the dot com and housing bubbles.SummaryThe proxy interest expense model is far from perfect, but it provides evidence the threshold of pain to withstand higher rates is small.If the Ten-year UST rate increases to 1.75% by April, the proxy interest expense will exceed all peak levels since 1990.  However, this time, massive fiscal stimulus, monetary operations, and economic reopening may mask the rise in rates for a little while, allowing them to rise further.Like every other time rates rose “too much,” a crisis will occur if rates keep increasing. It seems the only question is when the Fed will come running to the rescue as they always do.Buckle up, the math says a crisis may be closer than anyone imagines.","news_type":1,"symbols_score_info":{".IXIC":0.9,"SPY":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2053,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":328488106,"gmtCreate":1615551090405,"gmtModify":1703490792221,"author":{"id":"3574937126943437","authorId":"3574937126943437","name":"iofthetig3r","avatar":"https://static.tigerbbs.com/efea7af528f6130030d0d3fc4bfedf08","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574937126943437","idStr":"3574937126943437"},"themes":[],"htmlText":"Good read!","listText":"Good read!","text":"Good read!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/328488106","repostId":"1131409224","repostType":4,"isVote":1,"tweetType":1,"viewCount":1361,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":321528601,"gmtCreate":1615454404903,"gmtModify":1703489246990,"author":{"id":"3574937126943437","authorId":"3574937126943437","name":"iofthetig3r","avatar":"https://static.tigerbbs.com/efea7af528f6130030d0d3fc4bfedf08","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574937126943437","idStr":"3574937126943437"},"themes":[],"htmlText":"Go apple!","listText":"Go apple!","text":"Go apple!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/321528601","repostId":"1164214109","repostType":4,"repost":{"id":"1164214109","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1615454132,"share":"https://www.laohu8.com/m/news/1164214109?lang=zh_CN&edition=full","pubTime":"2021-03-11 17:15","market":"us","language":"en","title":"Why Apple Car Is Likely To Follow iPhone's Playbook On Production<blockquote>为什么苹果汽车可能会遵循iPhone的生产策略</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1164214109","media":"Benzinga","summary":"Apple Inc is likely to use an approach similar to one it uses to make the iPhone for manufacturing i","content":"<p><b>Apple Inc</b>&nbsp;is likely to use an approach similar to one it uses to make the iPhone for manufacturing its rumored electric vehicle, Bloomberg&nbsp;reported&nbsp;Wednesday.</p><p><blockquote><b>苹果公司</b>据彭博社周三报道，该公司可能会使用类似于制造iPhone的方法来制造传闻中的电动汽车。</blockquote></p><p> <b>What Happened:</b>The Tim Cook-led company may work with a contract manufacturer after talks with some automakers did not bear fruit.</p><p><blockquote><b>发生了什么：</b>在与一些汽车制造商的谈判没有取得成果后，蒂姆·库克领导的公司可能会与合同制造商合作。</blockquote></p><p> For making computers, smartphones, and tablets, the Cupertino, California-based company partners with manufacturers such as&nbsp;<b>Hon Hai Precision Industry Co. Ltd</b>, better known as Foxconn, as well as&nbsp;Pegatron, Wistron,<b>Flex Ltd</b>, and Luxshare. Profit margins of contract suppliers are dwarfed by those of Apple as factories are low-margin businesses.</p><p><blockquote>为了制造电脑、智能手机和平板电脑，这家总部位于加利福尼亚州库比蒂诺的公司与以下制造商合作<b>鸿海精密工业股份有限公司</b>，更广为人知的名字是富士康，以及和硕、纬创、<b>Flex有限公司</b>，和立讯精密。由于工厂是低利润业务，合同供应商的利润率与苹果相比相形见绌。</blockquote></p><p> <b>Why It Matters:</b>The contract manufacturing approach allows Apple to avoid expenses related to construction, salaries, training, and other sundry expenses noted Bloomberg.</p><p><blockquote><b>为什么重要：</b>彭博社指出，合同制造方法使苹果能够避免与建筑、工资、培训和其他杂项费用相关的费用。</blockquote></p><p> Last month, EV talks between Apple and Korea’s&nbsp;<b>Hyundai Motor Company</b>&nbsp;fell through.</p><p><blockquote>上个月，苹果和韩国之间的电动汽车谈判<b>现代汽车公司</b>失败了。</blockquote></p><p> Apple was also said to be in discussions at the time with&nbsp;<b>General Motors Company</b>&nbsp;and&nbsp;<b>Stellantis NV</b>.</p><p><blockquote>据说苹果当时也在与<b>通用汽车公司</b>和<b>斯特兰蒂斯公司</b>.</blockquote></p><p> <b>Nissan Motor Co., Ltd</b>&nbsp;also had fleeting contact with the iPhone maker but discussions did not reach fruition as the latter did not want to take a step down from being an&nbsp;automaker to a hardware supplier.</p><p><blockquote><b>日产汽车有限公司</b>还与iPhone制造商进行了短暂的接触，但讨论没有取得成果，因为后者不想从汽车制造商转向硬件供应商。</blockquote></p><p> <b>Price Action:</b>Apple shares closed nearly 0.9% lower at $119.98 on Wednesday.</p><p><blockquote><b>价格走势：</b>苹果股价周三收盘下跌近0.9%，至119.98美元。</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\">\nWhy Apple Car Is Likely To Follow iPhone's Playbook On Production<blockquote>为什么苹果汽车可能会遵循iPhone的生产策略</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time smaller\">2021-03-11 17:15</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p><b>Apple Inc</b>&nbsp;is likely to use an approach similar to one it uses to make the iPhone for manufacturing its rumored electric vehicle, Bloomberg&nbsp;reported&nbsp;Wednesday.</p><p><blockquote><b>苹果公司</b>据彭博社周三报道，该公司可能会使用类似于制造iPhone的方法来制造传闻中的电动汽车。</blockquote></p><p> <b>What Happened:</b>The Tim Cook-led company may work with a contract manufacturer after talks with some automakers did not bear fruit.</p><p><blockquote><b>发生了什么：</b>在与一些汽车制造商的谈判没有取得成果后，蒂姆·库克领导的公司可能会与合同制造商合作。</blockquote></p><p> For making computers, smartphones, and tablets, the Cupertino, California-based company partners with manufacturers such as&nbsp;<b>Hon Hai Precision Industry Co. Ltd</b>, better known as Foxconn, as well as&nbsp;Pegatron, Wistron,<b>Flex Ltd</b>, and Luxshare. Profit margins of contract suppliers are dwarfed by those of Apple as factories are low-margin businesses.</p><p><blockquote>为了制造电脑、智能手机和平板电脑，这家总部位于加利福尼亚州库比蒂诺的公司与以下制造商合作<b>鸿海精密工业股份有限公司</b>，更广为人知的名字是富士康，以及和硕、纬创、<b>Flex有限公司</b>，和立讯精密。由于工厂是低利润业务，合同供应商的利润率与苹果相比相形见绌。</blockquote></p><p> <b>Why It Matters:</b>The contract manufacturing approach allows Apple to avoid expenses related to construction, salaries, training, and other sundry expenses noted Bloomberg.</p><p><blockquote><b>为什么重要：</b>彭博社指出，合同制造方法使苹果能够避免与建筑、工资、培训和其他杂项费用相关的费用。</blockquote></p><p> Last month, EV talks between Apple and Korea’s&nbsp;<b>Hyundai Motor Company</b>&nbsp;fell through.</p><p><blockquote>上个月，苹果和韩国之间的电动汽车谈判<b>现代汽车公司</b>失败了。</blockquote></p><p> Apple was also said to be in discussions at the time with&nbsp;<b>General Motors Company</b>&nbsp;and&nbsp;<b>Stellantis NV</b>.</p><p><blockquote>据说苹果当时也在与<b>通用汽车公司</b>和<b>斯特兰蒂斯公司</b>.</blockquote></p><p> <b>Nissan Motor Co., Ltd</b>&nbsp;also had fleeting contact with the iPhone maker but discussions did not reach fruition as the latter did not want to take a step down from being an&nbsp;automaker to a hardware supplier.</p><p><blockquote><b>日产汽车有限公司</b>还与iPhone制造商进行了短暂的接触，但讨论没有取得成果，因为后者不想从汽车制造商转向硬件供应商。</blockquote></p><p> <b>Price Action:</b>Apple shares closed nearly 0.9% lower at $119.98 on Wednesday.</p><p><blockquote><b>价格走势：</b>苹果股价周三收盘下跌近0.9%，至119.98美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1164214109","content_text":"Apple Inc is likely to use an approach similar to one it uses to make the iPhone for manufacturing its rumored electric vehicle, Bloomberg reported Wednesday.\nWhat Happened:The Tim Cook-led company may work with a contract manufacturer after talks with some automakers did not bear fruit.\nFor making computers, smartphones, and tablets, the Cupertino, California-based company partners with manufacturers such as Hon Hai Precision Industry Co. Ltd, better known as Foxconn, as well as Pegatron, Wistron,Flex Ltd, and Luxshare. Profit margins of contract suppliers are dwarfed by those of Apple as factories are low-margin businesses.\nWhy It Matters:The contract manufacturing approach allows Apple to avoid expenses related to construction, salaries, training, and other sundry expenses noted Bloomberg.\nLast month, EV talks between Apple and Korea’s Hyundai Motor Company fell through.\nApple was also said to be in discussions at the time with General Motors Company and Stellantis NV.\nNissan Motor Co., Ltd also had fleeting contact with the iPhone maker but discussions did not reach fruition as the latter did not want to take a step down from being an automaker to a hardware supplier.\nPrice Action:Apple shares closed nearly 0.9% lower at $119.98 on Wednesday.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":1289,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":323432977,"gmtCreate":1615366348799,"gmtModify":1703487926440,"author":{"id":"3574937126943437","authorId":"3574937126943437","name":"iofthetig3r","avatar":"https://static.tigerbbs.com/efea7af528f6130030d0d3fc4bfedf08","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574937126943437","idStr":"3574937126943437"},"themes":[],"htmlText":"Amazing&nbsp;","listText":"Amazing&nbsp;","text":"Amazing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/323432977","repostId":"1108725790","repostType":4,"isVote":1,"tweetType":1,"viewCount":1696,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":false}