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- striker78striker78
  ·2021-10-08
  [Happy] [Happy] [Happy]
  Sundial Growers gained nearly 17% in premarket trading<blockquote>Sundial Growers在盘前交易中上涨近17%</blockquote>
  (Oct 8) Sundial Growers Inc. gained nearly 17% in premarket trading, the company buys Alcanna in C$3
  Sundial Growers gained nearly 17% in premarket trading<blockquote>Sundial Growers在盘前交易中上涨近17%</blockquote>
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- striker78striker78
  ·2021-08-18
  Great writeup 👍
  The Tertiary Distribution – What Can Chinese Tech Companies Learn from Apple?<blockquote>三级分销——中国科技公司能从苹果学到什么？</blockquote>
  According to the latest policy directives issued in China, “The Tertiary Distribution” is about to b
  The Tertiary Distribution – What Can Chinese Tech Companies Learn from Apple?<blockquote>三级分销——中国科技公司能从苹果学到什么？</blockquote>
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- striker78striker78
  ·2021-06-26
  Like n comments
  非常抱歉，此主贴已删除
  2,056 评论
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- striker78striker78
  ·2021-05-26
  👍
  Li Auto EPS beats by $0.01, beats on revenue<blockquote>理想汽车EPS超过预期0.01美元，营收超过预期</blockquote>
  (May 26) Li Auto Inc. (Nasdaq: LI), an innovator in China’s new energy vehicle market, today announc
  Li Auto EPS beats by $0.01, beats on revenue<blockquote>理想汽车EPS超过预期0.01美元，营收超过预期</blockquote>
  2,518 评论
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- striker78striker78
  ·2021-05-21
  👍
  非常抱歉，此主贴已删除
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- striker78striker78
  ·2021-05-08
  👌👍
  非常抱歉，此主贴已删除
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[Happy] [Happy]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/821935791","repostId":"1118881509","repostType":4,"repost":{"id":"1118881509","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":1633680221,"share":"https://www.laohu8.com/m/news/1118881509?lang=zh_CN&edition=full","pubTime":"2021-10-08 16:03","market":"us","language":"en","title":"Sundial Growers gained nearly 17% in premarket trading<blockquote>Sundial Growers在盘前交易中上涨近17%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1118881509","media":"Tiger Newspress","summary":"(Oct 8) Sundial Growers Inc. gained nearly 17% in premarket trading, the company buys Alcanna in C$3","content":"<p>(Oct 8)&nbsp;<b><a href=\"https://laohu8.com/S/SNDL\">Sundial Growers Inc.</a></b> gained nearly 17% in premarket trading,&nbsp;the&nbsp;company buys Alcanna in C$346M all-stock deal.</p><p><blockquote>（10月8日）<b><a href=\"https://laohu8.com/S/SNDL\">日晷种植者公司。</a></b>该公司以3.46亿加元的全股票交易收购了Alcanna，股价在盘前交易中上涨近17%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/bbc0301b5f501f1d7d3629926b2f568b\" tg-width=\"1064\" tg-height=\"576\" referrerpolicy=\"no-referrer\">Alcanna is Canada's largest private liquor retailer, operating 171 locations mostly in Alberta, but its majority-owned subsidiary is Canadian cannabis retailer Nova Cannabis.</p><p><blockquote>Alcanna是加拿大最大的私营酒类零售商，经营着171家门店，主要位于艾伯塔省，但其控股子公司是加拿大大麻零售商Nova Cannabis。</blockquote></p><p> \"Alcanna's value-focused model in liquor retailing has created market stability and we believe that the replication of this playbook in cannabis has strong potential to drive a similar result,\" Sundial CEO Zach George says.</p><p><blockquote>Sundial首席执行官扎克·乔治(Zach George)表示：“Alcanna在酒类零售领域以价值为中心的模式创造了市场稳定，我们相信在大麻领域复制这一策略具有推动类似结果的强大潜力。”</blockquote></p><p> Seeking Alpha contributor IncomeBent Investments sees Sundial Growers asa speculative buy as the Canadian cannabis industry works out the long-term sector leaders.</p><p><blockquote>Seeking Alpha贡献者IncomeBent Investments将Sundial Growers视为投机性买入，因为加拿大大麻行业正在打造长期行业领导者。</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>Sundial Growers gained nearly 17% in premarket trading<blockquote>Sundial Growers在盘前交易中上涨近17%</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\">\nSundial Growers gained nearly 17% in premarket trading<blockquote>Sundial Growers在盘前交易中上涨近17%</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\">2021-10-08 16:03</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(Oct 8)&nbsp;<b><a href=\"https://laohu8.com/S/SNDL\">Sundial Growers Inc.</a></b> gained nearly 17% in premarket trading,&nbsp;the&nbsp;company buys Alcanna in C$346M all-stock deal.</p><p><blockquote>（10月8日）<b><a href=\"https://laohu8.com/S/SNDL\">日晷种植者公司。</a></b>该公司以3.46亿加元的全股票交易收购了Alcanna，股价在盘前交易中上涨近17%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/bbc0301b5f501f1d7d3629926b2f568b\" tg-width=\"1064\" tg-height=\"576\" referrerpolicy=\"no-referrer\">Alcanna is Canada's largest private liquor retailer, operating 171 locations mostly in Alberta, but its majority-owned subsidiary is Canadian cannabis retailer Nova Cannabis.</p><p><blockquote>Alcanna是加拿大最大的私营酒类零售商，经营着171家门店，主要位于艾伯塔省，但其控股子公司是加拿大大麻零售商Nova Cannabis。</blockquote></p><p> \"Alcanna's value-focused model in liquor retailing has created market stability and we believe that the replication of this playbook in cannabis has strong potential to drive a similar result,\" Sundial CEO Zach George says.</p><p><blockquote>Sundial首席执行官扎克·乔治(Zach George)表示：“Alcanna在酒类零售领域以价值为中心的模式创造了市场稳定，我们相信在大麻领域复制这一策略具有推动类似结果的强大潜力。”</blockquote></p><p> Seeking Alpha contributor IncomeBent Investments sees Sundial Growers asa speculative buy as the Canadian cannabis industry works out the long-term sector leaders.</p><p><blockquote>Seeking Alpha贡献者IncomeBent Investments将Sundial Growers视为投机性买入，因为加拿大大麻行业正在打造长期行业领导者。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SNDL":"SNDL Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118881509","content_text":"(Oct 8) Sundial Growers Inc. gained nearly 17% in premarket trading, the company buys Alcanna in C$346M all-stock deal.\nAlcanna is Canada's largest private liquor retailer, operating 171 locations mostly in Alberta, but its majority-owned subsidiary is Canadian cannabis retailer Nova Cannabis.\n\"Alcanna's value-focused model in liquor retailing has created market stability and we believe that the replication of this playbook in cannabis has strong potential to drive a similar result,\" Sundial CEO Zach George says.\nSeeking Alpha contributor IncomeBent Investments sees Sundial Growers asa speculative buy as the Canadian cannabis industry works out the long-term sector leaders.","news_type":1,"symbols_score_info":{"SNDL":0.9}},"isVote":1,"tweetType":1,"viewCount":3034,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":831890158,"gmtCreate":1629298159774,"gmtModify":1633685867188,"author":{"id":"3580286525740676","authorId":"3580286525740676","name":"striker78","avatar":"https://static.tigerbbs.com/030b0c3edc88f745f9640edc9551e488","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3580286525740676","authorIdStr":"3580286525740676"},"themes":[],"htmlText":"Great writeup 👍","listText":"Great writeup 👍","text":"Great writeup 👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/831890158","repostId":"1173987909","repostType":4,"repost":{"id":"1173987909","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":1629297237,"share":"https://www.laohu8.com/m/news/1173987909?lang=zh_CN&edition=full","pubTime":"2021-08-18 22:33","market":"hk","language":"en","title":"The Tertiary Distribution – What Can Chinese Tech Companies Learn from Apple?<blockquote>三级分销——中国科技公司能从苹果学到什么？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1173987909","media":"Tiger Newspress","summary":"According to the latest policy directives issued in China, “The Tertiary Distribution” is about to b","content":"<p>According to the latest policy directives issued in China, “The Tertiary&nbsp;Distribution” is about to be put into effect. Citing various sources, the so-called “The Tertiary Distribution” refers to the further adjustment of social income distribution through social entities’ (enterprises and individuals) voluntary, charitable donations, which is in the stage of micro-adjustment. In the meantime, the policy also clearly instructs that the country should encourage high-income groups and enterprises to give back to society to a greater extent.</p><p><blockquote>根据中国最新发布的政策指示，“三次分配”即将落地。援引多方消息称，所谓“三次分配”，是指通过社会主体（企业和个人）自愿、慈善捐赠，进一步调节社会收入分配，处于微观调节阶段。其间，政策还明确指示，国家要鼓励高收入群体和企业更大程度地回馈社会。</blockquote></p><p> There are many high-income groups, including celebrities and real estate speculators. And, high-income companies, in terms of financial reports, include leading Internet companies, China’s top five banks, and other state-owned enterprises. Here, we will discuss what Internet companies should do in “The&nbsp;Tertiary Distribution.”</p><p><blockquote>高收入群体很多，有名人，也有炒房客。并且，高收入公司，就财报而言，包括领先的互联网公司、中国五大银行和其他国有企业。在这里，我们将讨论互联网公司在“三次分配”中应该做些什么。</blockquote></p><p> From the view of current beneficial donations, Internet companies have played an increasingly important role. Let’s take the flood disaster that recently occurred in Henan as an example. <a href=\"https://laohu8.com/S/00700\">TENCENT</a> donated 100 million yuan, <a href=\"https://laohu8.com/S/BABA\">Alibaba</a> donated 100 million yuan, and Xiaomi donated 50 million yuan... But there are problems with the current way of donating by Internet companies.</p><p><blockquote>从目前的受益捐赠来看，互联网企业已经发挥了越来越重要的作用。我们以河南近期发生的洪涝灾害为例。<a href=\"https://laohu8.com/S/00700\">腾讯控股</a>捐赠1亿元，<a href=\"https://laohu8.com/S/BABA\">阿里巴巴-SW</a>捐了1亿元，小米捐了5000万……但目前互联网公司的捐赠方式存在问题。</blockquote></p><p> <b>1. The burden born by Internet companies is heavy.</b> Although the leading Internet companies have made plenty of profits, many companies are not profitable or even in the red. After the flood disaster of Henan province, Pinduoduo, the largest agriculture-focused technology platform in China, also announced a donation of 100 million yuan. It should be noted that the company is at a loss. The large-scale donation will also deliver an illusion to society: These companies are capable of donating more money.</p><p><blockquote><b>1、互联网企业背负的包袱很重。</b>虽然互联网龙头企业利润丰厚，但也有不少企业不盈利甚至亏损。河南省洪涝灾害发生后，国内最大的以农业为主的科技平台拼多多也宣布捐赠1亿元。需要注意的是，公司处于亏损状态。大规模的捐赠也会给社会传递一种错觉：这些公司有能力捐出更多的钱。</blockquote></p><p> <b>2. There is a phenomenon of unrealistic comparison among Internet companies.</b> The beneficial donations conducted by Internet corporates have entered the stage of comparison, which is related to Chinese cultural traditions. The donation amount of BAT (<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>, Alibaba, and Tencent) is in one echelon, while that of <a href=\"https://laohu8.com/S/01810\">XIAOMI-W</a> and OmniVision is in another echelon. The comparison on donation amount makes companies complain, and it also makes the public feel that Internet companies are flaunting the considerable wealth.</p><p><blockquote><b>2、互联网企业之间存在不切实际的攀比现象。</b>互联网企业进行的有益捐赠进入攀比阶段，这与中国文化传统有关。英美烟草的捐赠金额（<a href=\"https://laohu8.com/S/BIDU\">百度</a>、阿里巴巴-SW和腾讯控股）处于同一梯队，而<a href=\"https://laohu8.com/S/01810\">小米集团-W</a>而豪威则处于另一个梯队。捐赠金额上的对比让企业叫苦不迭，也让公众觉得互联网企业在炫耀可观的财富。</blockquote></p><p> <b>3. Public beneficial donations are not sustainable.</b> Tencent donated 100 million yuan to help people in Henan fight the natural calamity. What should Tencent do if there is another city suffering from disaster? How much should Tencent donate if there are more natural calamities? Global warming will give rise to more and more disasters. Therefore, the immoderate, planless donations will become a big unknown for the future operation of these enterprises.</p><p><blockquote><b>3.公益性捐赠不可持续。</b>腾讯控股捐赠1亿元帮助河南省人民抗击自然灾害。如果再有一个城市遭受灾难，腾讯控股该怎么办？如果有更多的自然灾害，腾讯控股应该捐多少？全球变暖将导致越来越多的灾难。因此，无节制的、无计划的捐款将成为这些企业未来经营的一大未知数。</blockquote></p><p> The United States is the country that has done the best in public welfare. As a leading conglomerate in the United States, how does <a href=\"https://laohu8.com/S/AAPL\">Apple</a> deal with “The Tertiary Distributions?”</p><p><blockquote>美国是在公益方面做得最好的国家。作为美国领先的企业集团，如何<a href=\"https://laohu8.com/S/AAPL\">苹果</a>处理“三级分布？”</blockquote></p><p> Apple has partly disclosed the information on its charitable donations. According to the disclosure, charitable donations completed by Apple can be divided into three parts: <b>a. Employee Giving Program; b. Community Investment Team; c. Grant Program</b>.</p><p><blockquote>苹果已经部分披露了其慈善捐款的信息。根据披露，苹果完成的慈善捐赠可以分为三个部分：<b>a.员工捐赠计划；b.社区投资团队；c.赠款计划</b>.</blockquote></p><p> The second public welfare plan, namely “Community Investment Team,” is for NGOs across the globe. Since the amount has not been disclosed, it is estimated that the amount of donation is not much. The third plan “Grant Program” is for the locations of Apple/groups, with an annual quota of $1 million. Only the first plan is the focus of Apple’s philanthropy.</p><p><blockquote>第二个公益计划，即“社区投资团队”，面向全球的非政府组织。由于未公开金额，估计捐款金额不多。第三个计划“赠款计划”面向苹果/团体所在地，每年额度为100万美元。只有第一个计划是苹果慈善事业的重点。</blockquote></p><p> Apple’s Employee Giving Program is based on employee donations, and the company conducts a match rate of 1:1. Beyond that, Apple will also match the time spent by employees in public welfare activities at $25 per hour. Since the implementation of the project in 2011, more than $600 million has been donated by the company and its employees, benefiting 34,000 organizations worldwide, and employees have together contributed 1.6 million hours of work.</p><p><blockquote>苹果的员工捐赠计划以员工捐赠为基础，公司进行1：1的匹配比例。除此之外，苹果还将为员工在公益活动中花费的时间按每小时25美元进行匹配。自2011年项目实施以来，该公司及其员工已捐赠超过6亿美元，惠及全球34,000个组织，员工共同贡献了160万小时的工作。</blockquote></p><p> The advantages are listed as follows:</p><p><blockquote>优点列举如下：</blockquote></p><p> <b>1. The company can be better protected. </b>The company’s move of placing employees on the front line of public welfare undertakings can arouse the enthusiasm of employees and also hide the company behind them. Apple will never get caught up in public opinions like “Why don’t Apple donate as much as <a href=\"https://laohu8.com/S/GOOG\">Alphabet</a>?”.</p><p><blockquote><b>1、公司可以得到更好的保护。</b>公司将员工放在公益事业第一线的举动，可以调动员工的积极性，也可以将公司隐藏在背后。苹果永远不会陷入像“为什么苹果不捐那么多钱<a href=\"https://laohu8.com/S/GOOG\">Alphabet</a>?”.</blockquote></p><p></p><p> <b>2. Tax avoidance is best realized.</b> Donations made by enterprises to public welfare undertakings will always be suspected of tax avoidance and will also be questioned by the public. However, if the donation amount of an enterprise is matched by that of employees, the company’s expenditure can be figured in the employee’s expense item (salary) in the company’s financial report, which reduces the tax base.</p><p><blockquote><b>2.避税最好实现。</b>企业对公益事业的捐款总会有避税的嫌疑，也会受到公众的质疑。但是，如果企业的捐赠金额与员工的捐赠金额相匹配，公司的支出可以在公司财报中员工的费用项目（工资）中计算，这样就减少了税基。</blockquote></p><p> <b>3. The scope of charity is wider.</b> Apple has a large number of employees spreading widely around the world. The charity projects they seek on their own are far more than those concerned by the media. Apple’s philanthropy spreads to all corners of society, which will be pretty good for the overall image of Apple. Compared with the recently happened disaster in Henan province which attracted countless donations, there are more other public welfare undertakings that have not been reported by media and paid attention to by both individuals and companies. If employees of Tencent, Alibaba, and Xiaomi can be mobilized to explore more public welfare projects, the inclusive work for society will be much better.</p><p><blockquote><b>3.慈善的范围更广。</b>苹果拥有大量员工，广泛分布在世界各地。他们自己寻求的慈善项目远不止媒体关注的那些。苹果的慈善事业普及到社会各个角落，对苹果的整体形象会是相当不错的。与最近发生在河南省的灾难吸引了无数的捐款相比，还有更多的其他公益事业没有被媒体报道，也没有被个人和公司所关注。如果能发动腾讯控股、阿里巴巴-SW、小米的员工去探索更多的公益项目，对社会的普惠工作会好很多。</blockquote></p><p> To my point of view, Chinese Internet companies should learn from Apple’s experience and earnestly welcome “The Tertiary Distribution.”</p><p><blockquote>在我看来，中国互联网企业应该借鉴苹果的经验，切实迎接“三次发行”。</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>The Tertiary Distribution – What Can Chinese Tech Companies Learn from Apple?<blockquote>三级分销——中国科技公司能从苹果学到什么？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Tertiary Distribution – What Can Chinese Tech Companies Learn from Apple?<blockquote>三级分销——中国科技公司能从苹果学到什么？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-18 22:33</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>According to the latest policy directives issued in China, “The Tertiary&nbsp;Distribution” is about to be put into effect. Citing various sources, the so-called “The Tertiary Distribution” refers to the further adjustment of social income distribution through social entities’ (enterprises and individuals) voluntary, charitable donations, which is in the stage of micro-adjustment. In the meantime, the policy also clearly instructs that the country should encourage high-income groups and enterprises to give back to society to a greater extent.</p><p><blockquote>根据中国最新发布的政策指示，“三次分配”即将落地。援引多方消息称，所谓“三次分配”，是指通过社会主体（企业和个人）自愿、慈善捐赠，进一步调节社会收入分配，处于微观调节阶段。其间，政策还明确指示，国家要鼓励高收入群体和企业更大程度地回馈社会。</blockquote></p><p> There are many high-income groups, including celebrities and real estate speculators. And, high-income companies, in terms of financial reports, include leading Internet companies, China’s top five banks, and other state-owned enterprises. Here, we will discuss what Internet companies should do in “The&nbsp;Tertiary Distribution.”</p><p><blockquote>高收入群体很多，有名人，也有炒房客。并且，高收入公司，就财报而言，包括领先的互联网公司、中国五大银行和其他国有企业。在这里，我们将讨论互联网公司在“三次分配”中应该做些什么。</blockquote></p><p> From the view of current beneficial donations, Internet companies have played an increasingly important role. Let’s take the flood disaster that recently occurred in Henan as an example. <a href=\"https://laohu8.com/S/00700\">TENCENT</a> donated 100 million yuan, <a href=\"https://laohu8.com/S/BABA\">Alibaba</a> donated 100 million yuan, and Xiaomi donated 50 million yuan... But there are problems with the current way of donating by Internet companies.</p><p><blockquote>从目前的受益捐赠来看，互联网企业已经发挥了越来越重要的作用。我们以河南近期发生的洪涝灾害为例。<a href=\"https://laohu8.com/S/00700\">腾讯控股</a>捐赠1亿元，<a href=\"https://laohu8.com/S/BABA\">阿里巴巴-SW</a>捐了1亿元，小米捐了5000万……但目前互联网公司的捐赠方式存在问题。</blockquote></p><p> <b>1. The burden born by Internet companies is heavy.</b> Although the leading Internet companies have made plenty of profits, many companies are not profitable or even in the red. After the flood disaster of Henan province, Pinduoduo, the largest agriculture-focused technology platform in China, also announced a donation of 100 million yuan. It should be noted that the company is at a loss. The large-scale donation will also deliver an illusion to society: These companies are capable of donating more money.</p><p><blockquote><b>1、互联网企业背负的包袱很重。</b>虽然互联网龙头企业利润丰厚，但也有不少企业不盈利甚至亏损。河南省洪涝灾害发生后，国内最大的以农业为主的科技平台拼多多也宣布捐赠1亿元。需要注意的是，公司处于亏损状态。大规模的捐赠也会给社会传递一种错觉：这些公司有能力捐出更多的钱。</blockquote></p><p> <b>2. There is a phenomenon of unrealistic comparison among Internet companies.</b> The beneficial donations conducted by Internet corporates have entered the stage of comparison, which is related to Chinese cultural traditions. The donation amount of BAT (<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>, Alibaba, and Tencent) is in one echelon, while that of <a href=\"https://laohu8.com/S/01810\">XIAOMI-W</a> and OmniVision is in another echelon. The comparison on donation amount makes companies complain, and it also makes the public feel that Internet companies are flaunting the considerable wealth.</p><p><blockquote><b>2、互联网企业之间存在不切实际的攀比现象。</b>互联网企业进行的有益捐赠进入攀比阶段，这与中国文化传统有关。英美烟草的捐赠金额（<a href=\"https://laohu8.com/S/BIDU\">百度</a>、阿里巴巴-SW和腾讯控股）处于同一梯队，而<a href=\"https://laohu8.com/S/01810\">小米集团-W</a>而豪威则处于另一个梯队。捐赠金额上的对比让企业叫苦不迭，也让公众觉得互联网企业在炫耀可观的财富。</blockquote></p><p> <b>3. Public beneficial donations are not sustainable.</b> Tencent donated 100 million yuan to help people in Henan fight the natural calamity. What should Tencent do if there is another city suffering from disaster? How much should Tencent donate if there are more natural calamities? Global warming will give rise to more and more disasters. Therefore, the immoderate, planless donations will become a big unknown for the future operation of these enterprises.</p><p><blockquote><b>3.公益性捐赠不可持续。</b>腾讯控股捐赠1亿元帮助河南省人民抗击自然灾害。如果再有一个城市遭受灾难，腾讯控股该怎么办？如果有更多的自然灾害，腾讯控股应该捐多少？全球变暖将导致越来越多的灾难。因此，无节制的、无计划的捐款将成为这些企业未来经营的一大未知数。</blockquote></p><p> The United States is the country that has done the best in public welfare. As a leading conglomerate in the United States, how does <a href=\"https://laohu8.com/S/AAPL\">Apple</a> deal with “The Tertiary Distributions?”</p><p><blockquote>美国是在公益方面做得最好的国家。作为美国领先的企业集团，如何<a href=\"https://laohu8.com/S/AAPL\">苹果</a>处理“三级分布？”</blockquote></p><p> Apple has partly disclosed the information on its charitable donations. According to the disclosure, charitable donations completed by Apple can be divided into three parts: <b>a. Employee Giving Program; b. Community Investment Team; c. Grant Program</b>.</p><p><blockquote>苹果已经部分披露了其慈善捐款的信息。根据披露，苹果完成的慈善捐赠可以分为三个部分：<b>a.员工捐赠计划；b.社区投资团队；c.赠款计划</b>.</blockquote></p><p> The second public welfare plan, namely “Community Investment Team,” is for NGOs across the globe. Since the amount has not been disclosed, it is estimated that the amount of donation is not much. The third plan “Grant Program” is for the locations of Apple/groups, with an annual quota of $1 million. Only the first plan is the focus of Apple’s philanthropy.</p><p><blockquote>第二个公益计划，即“社区投资团队”，面向全球的非政府组织。由于未公开金额，估计捐款金额不多。第三个计划“赠款计划”面向苹果/团体所在地，每年额度为100万美元。只有第一个计划是苹果慈善事业的重点。</blockquote></p><p> Apple’s Employee Giving Program is based on employee donations, and the company conducts a match rate of 1:1. Beyond that, Apple will also match the time spent by employees in public welfare activities at $25 per hour. Since the implementation of the project in 2011, more than $600 million has been donated by the company and its employees, benefiting 34,000 organizations worldwide, and employees have together contributed 1.6 million hours of work.</p><p><blockquote>苹果的员工捐赠计划以员工捐赠为基础，公司进行1：1的匹配比例。除此之外，苹果还将为员工在公益活动中花费的时间按每小时25美元进行匹配。自2011年项目实施以来，该公司及其员工已捐赠超过6亿美元，惠及全球34,000个组织，员工共同贡献了160万小时的工作。</blockquote></p><p> The advantages are listed as follows:</p><p><blockquote>优点列举如下：</blockquote></p><p> <b>1. The company can be better protected. </b>The company’s move of placing employees on the front line of public welfare undertakings can arouse the enthusiasm of employees and also hide the company behind them. Apple will never get caught up in public opinions like “Why don’t Apple donate as much as <a href=\"https://laohu8.com/S/GOOG\">Alphabet</a>?”.</p><p><blockquote><b>1、公司可以得到更好的保护。</b>公司将员工放在公益事业第一线的举动，可以调动员工的积极性，也可以将公司隐藏在背后。苹果永远不会陷入像“为什么苹果不捐那么多钱<a href=\"https://laohu8.com/S/GOOG\">Alphabet</a>?”.</blockquote></p><p></p><p> <b>2. Tax avoidance is best realized.</b> Donations made by enterprises to public welfare undertakings will always be suspected of tax avoidance and will also be questioned by the public. However, if the donation amount of an enterprise is matched by that of employees, the company’s expenditure can be figured in the employee’s expense item (salary) in the company’s financial report, which reduces the tax base.</p><p><blockquote><b>2.避税最好实现。</b>企业对公益事业的捐款总会有避税的嫌疑，也会受到公众的质疑。但是，如果企业的捐赠金额与员工的捐赠金额相匹配，公司的支出可以在公司财报中员工的费用项目（工资）中计算，这样就减少了税基。</blockquote></p><p> <b>3. The scope of charity is wider.</b> Apple has a large number of employees spreading widely around the world. The charity projects they seek on their own are far more than those concerned by the media. Apple’s philanthropy spreads to all corners of society, which will be pretty good for the overall image of Apple. Compared with the recently happened disaster in Henan province which attracted countless donations, there are more other public welfare undertakings that have not been reported by media and paid attention to by both individuals and companies. If employees of Tencent, Alibaba, and Xiaomi can be mobilized to explore more public welfare projects, the inclusive work for society will be much better.</p><p><blockquote><b>3.慈善的范围更广。</b>苹果拥有大量员工，广泛分布在世界各地。他们自己寻求的慈善项目远不止媒体关注的那些。苹果的慈善事业普及到社会各个角落，对苹果的整体形象会是相当不错的。与最近发生在河南省的灾难吸引了无数的捐款相比，还有更多的其他公益事业没有被媒体报道，也没有被个人和公司所关注。如果能发动腾讯控股、阿里巴巴-SW、小米的员工去探索更多的公益项目，对社会的普惠工作会好很多。</blockquote></p><p> To my point of view, Chinese Internet companies should learn from Apple’s experience and earnestly welcome “The Tertiary Distribution.”</p><p><blockquote>在我看来，中国互联网企业应该借鉴苹果的经验，切实迎接“三次发行”。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PDD":"拼多多","BABA":"阿里巴巴","BIDU":"百度","01810":"小米集团-W","00700":"腾讯控股","AAPL":"苹果"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1173987909","content_text":"According to the latest policy directives issued in China, “The Tertiary Distribution” is about to be put into effect. Citing various sources, the so-called “The Tertiary Distribution” refers to the further adjustment of social income distribution through social entities’ (enterprises and individuals) voluntary, charitable donations, which is in the stage of micro-adjustment. In the meantime, the policy also clearly instructs that the country should encourage high-income groups and enterprises to give back to society to a greater extent.\nThere are many high-income groups, including celebrities and real estate speculators. And, high-income companies, in terms of financial reports, include leading Internet companies, China’s top five banks, and other state-owned enterprises. Here, we will discuss what Internet companies should do in “The Tertiary Distribution.”\nFrom the view of current beneficial donations, Internet companies have played an increasingly important role. Let’s take the flood disaster that recently occurred in Henan as an example. TENCENT donated 100 million yuan, Alibaba donated 100 million yuan, and Xiaomi donated 50 million yuan... But there are problems with the current way of donating by Internet companies.\n1. The burden born by Internet companies is heavy. Although the leading Internet companies have made plenty of profits, many companies are not profitable or even in the red. After the flood disaster of Henan province, Pinduoduo, the largest agriculture-focused technology platform in China, also announced a donation of 100 million yuan. It should be noted that the company is at a loss. The large-scale donation will also deliver an illusion to society: These companies are capable of donating more money.\n2. There is a phenomenon of unrealistic comparison among Internet companies. The beneficial donations conducted by Internet corporates have entered the stage of comparison, which is related to Chinese cultural traditions. The donation amount of BAT (Baidu, Alibaba, and Tencent) is in one echelon, while that of XIAOMI-W and OmniVision is in another echelon. The comparison on donation amount makes companies complain, and it also makes the public feel that Internet companies are flaunting the considerable wealth.\n3. Public beneficial donations are not sustainable. Tencent donated 100 million yuan to help people in Henan fight the natural calamity. What should Tencent do if there is another city suffering from disaster? How much should Tencent donate if there are more natural calamities? Global warming will give rise to more and more disasters. Therefore, the immoderate, planless donations will become a big unknown for the future operation of these enterprises.\nThe United States is the country that has done the best in public welfare. As a leading conglomerate in the United States, how does Apple deal with “The Tertiary Distributions?”\nApple has partly disclosed the information on its charitable donations. According to the disclosure, charitable donations completed by Apple can be divided into three parts: a. Employee Giving Program; b. Community Investment Team; c. Grant Program.\nThe second public welfare plan, namely “Community Investment Team,” is for NGOs across the globe. Since the amount has not been disclosed, it is estimated that the amount of donation is not much. The third plan “Grant Program” is for the locations of Apple/groups, with an annual quota of $1 million. Only the first plan is the focus of Apple’s philanthropy.\nApple’s Employee Giving Program is based on employee donations, and the company conducts a match rate of 1:1. Beyond that, Apple will also match the time spent by employees in public welfare activities at $25 per hour. Since the implementation of the project in 2011, more than $600 million has been donated by the company and its employees, benefiting 34,000 organizations worldwide, and employees have together contributed 1.6 million hours of work.\nThe advantages are listed as follows:\n1. The company can be better protected. The company’s move of placing employees on the front line of public welfare undertakings can arouse the enthusiasm of employees and also hide the company behind them. Apple will never get caught up in public opinions like “Why don’t Apple donate as much as Alphabet?”.\n2. Tax avoidance is best realized. Donations made by enterprises to public welfare undertakings will always be suspected of tax avoidance and will also be questioned by the public. However, if the donation amount of an enterprise is matched by that of employees, the company’s expenditure can be figured in the employee’s expense item (salary) in the company’s financial report, which reduces the tax base.\n3. The scope of charity is wider. Apple has a large number of employees spreading widely around the world. The charity projects they seek on their own are far more than those concerned by the media. Apple’s philanthropy spreads to all corners of society, which will be pretty good for the overall image of Apple. Compared with the recently happened disaster in Henan province which attracted countless donations, there are more other public welfare undertakings that have not been reported by media and paid attention to by both individuals and companies. If employees of Tencent, Alibaba, and Xiaomi can be mobilized to explore more public welfare projects, the inclusive work for society will be much better.\nTo my point of view, Chinese Internet companies should learn from Apple’s experience and earnestly welcome “The Tertiary Distribution.”","news_type":1,"symbols_score_info":{"01810":0.9,"BABA":0.9,"00700":0.9,"AAPL":0.9,"PDD":0.9,"BIDU":0.9}},"isVote":1,"tweetType":1,"viewCount":1670,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125317272,"gmtCreate":1624654573196,"gmtModify":1633950086430,"author":{"id":"3580286525740676","authorId":"3580286525740676","name":"striker78","avatar":"https://static.tigerbbs.com/030b0c3edc88f745f9640edc9551e488","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3580286525740676","authorIdStr":"3580286525740676"},"themes":[],"htmlText":"Like n comments&nbsp;","listText":"Like n comments&nbsp;","text":"Like n comments","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/125317272","repostId":"2146073358","repostType":4,"isVote":1,"tweetType":1,"viewCount":2056,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":132095515,"gmtCreate":1622043509637,"gmtModify":1634184374513,"author":{"id":"3580286525740676","authorId":"3580286525740676","name":"striker78","avatar":"https://static.tigerbbs.com/030b0c3edc88f745f9640edc9551e488","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3580286525740676","authorIdStr":"3580286525740676"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/132095515","repostId":"1150713912","repostType":4,"repost":{"id":"1150713912","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1622016404,"share":"https://www.laohu8.com/m/news/1150713912?lang=zh_CN&edition=full","pubTime":"2021-05-26 16:06","market":"us","language":"en","title":"Li Auto EPS beats by $0.01, beats on revenue<blockquote>理想汽车EPS超过预期0.01美元，营收超过预期</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1150713912","media":"Tiger Newspress","summary":"(May 26) Li Auto Inc. (Nasdaq: LI), an innovator in China’s new energy vehicle market, today announc","content":"<p>(May 26)&nbsp;Li Auto Inc. (Nasdaq: LI), an innovator in China’s new energy vehicle market, today announced its unaudited financial results for the first quarter ended March&nbsp;31, 2021.</p><p><blockquote>（5月26日）国内新能源汽车市场创新者理想汽车公司（纳斯达克：LI）今日公布截至2021年3月31日的第一季度未经审计财务业绩。</blockquote></p><p><ul><li>Li Q1 Non-GAAP EPS of -$0.03 <b>beats</b> by $0.01; GAAP EPS of -$0.06 <b>misses</b> by $0.05.</li><li>Revenue of $545.7M (+319.8% Y/Y)&nbsp;<b>beats</b> by $42.26M.</li><li>Quarterly total revenues reached RMB3.58 billion (US$545.7 million)1Quarterly deliveries were 12,579 vehicles</li><li>Quarterly gross margin reached 17.3%.</li><li><b>Q2 Outlook</b>:&nbsp;Total revenues to be between RMB3.99B ($609M) and RMB4.27B ($651.7M), consensus $663.51, representing an increase of 104.6% to 119.0% from Q2 2020.</li><li>Deliveries of vehicles to be between 14,500 and 15,500 vehicles, representing an increase of 119.6% to 134.7% from Q2 2020.</li></ul><img src=\"https://static.tigerbbs.com/ff735550080b330b011ba4dbd0dedb68\" tg-width=\"662\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p><p><blockquote><ul><li>Li第一季度非GAAP每股收益为-0.03美元<b>节拍</b>增加0.01美元；GAAP每股收益为-0.06美元<b>未命中</b>0.05美元。</li><li>收入为5.457亿美元（同比增长319.8%）<b>节拍</b>增加了4226万美元。</li><li>季度总收入达到35.8亿元人民币（5.457亿美元）1季度交付量为12,579辆</li><li>季度毛利率达到17.3%。</li><li><b>第二季度展望</b>：总收入将在人民币39.9亿元（6.09亿美元）至人民币42.7亿元（6.517亿美元）之间，市场普遍预期为663.51美元，较2020年第二季度增长104.6%至119.0%。</li><li>汽车交付量将在14,500至15,500辆之间，较2020年第二季度增长119.6%至134.7%。</li></ul></blockquote></p><p><b>Operating Highlights for the First Quarter of 2021</b></p><p><blockquote><b>2021年第一季度经营亮点</b></blockquote></p><p><ul><li>Deliveries of Li ONEs were 12,579 vehicles in the first quarter of 2021, representing a 334.4% year-over-year increase.</li></ul><img src=\"https://static.tigerbbs.com/637a5f62341f333ae7dc2317c883b83a\" tg-width=\"609\" tg-height=\"193\" referrerpolicy=\"no-referrer\"></p><p><blockquote><ul><li>2021年第一季度，理想ONE的交付量为12,579辆，同比增长334.4%。</li></ul></blockquote></p><p><ul><li>As of March 31, 2021, the Company had 65 retail stores covering 49 cities and 135 servicing centers and Li Auto-authorized body and paint shops operating in 98 cities.</li></ul><b>Financial Highlights for the First Quarter of 2021</b></p><p><blockquote><ul><li>截至2021年3月31日，该公司拥有65家零售店，覆盖49个城市，135家服务中心以及理想汽车授权的车身和喷漆店在98个城市运营。</li></ul><b>2021年第一季度财务摘要</b></blockquote></p><p><ul><li>Vehicle sales were RMB3.46 billion (US$528.7 million) in the first quarter of 2021, representing an increase of 311.8% from RMB841.1 million in the first quarter of 2020 and a decrease of 14.6% from RMB4.06 billion in the fourth quarter of 2020.</li><li>Vehicle margin2was 16.9% in the first quarter of 2021, compared with 8.4% in the first quarter of 2020 and 17.1% in the fourth quarter of 2020.</li><li>Total revenues were RMB3.58 billion (US$545.7 million) in the first quarter of 2021, representing an increase of 319.8% from RMB851.7 million in the first quarter of 2020 and a decrease of 13.8% from RMB4.15 billion in the fourth quarter of 2020.</li><li>Gross profit was RMB616.7 million (US$94.1 million) in the first quarter of 2021, representing an increase of 802.9% from RMB68.3 million in the first quarter of 2020 and a decrease of 14.9% from RMB724.6 million in the fourth quarter of 2020.</li><li>Gross margin was 17.3% in the first quarter of 2021, compared with 8.0% in the first quarter of 2020 and 17.5% in the fourth quarter of 2020.</li><li>Loss from operations was RMB407.7 million (US$62.2 million) in the first quarter of 2021, representing an increase of 74.1% from RMB234.2 million in the first quarter of 2020 and an increase of 416.7% from RMB78.9 million in the fourth quarter of 2020. Non-GAAP loss from operations3was RMB224.8 million (US$34.3 million) in the first quarter of 2021, representing a decrease of 4.0% from RMB234.2 million in the first quarter of 2020 and an increase of 216.2% from RMB71.1 million in the fourth quarter of 2020.</li><li>Net loss was RMB360.0 million (US$54.9 million) in the first quarter of 2021, compared with RMB77.1 million net loss in the first quarter of 2020 and RMB107.5 million net income in the fourth quarter of 2020. Non-GAAP net loss3was RMB177.0 million (US$27.0 million) in the first quarter of 2021, compared with RMB253.4 million net loss in the first quarter of 2020 and RMB115.4 million net income in the fourth quarter of 2020.</li><li>Operating cash flow was RMB926.3 million (US$141.4 million) in the first quarter of 2021, representing an increase of RMB989.3 million from negative net cash flow of RMB63.0 million in the first quarter of 2020 and a decrease of 49.1% from RMB1.82 billion in the fourth quarter of 2020.</li><li>Free cash flow4was RMB570.2 million (US$87.0 million) in the first quarter of 2021, representing an increase of RMB755.4 million from negative net cash flow of RMB185.2 million in the first quarter of 2020 and a decrease of 64.3% from RMB1.60 billion in the fourth quarter of 2020.</li></ul><img src=\"https://static.tigerbbs.com/de30e1ac5d69693451c6d4e9f4b33061\" tg-width=\"997\" tg-height=\"536\" referrerpolicy=\"no-referrer\"></p><p><blockquote><ul><li>2021年第一季度汽车销售额为人民币34.6亿元（5.287亿美元），较2020年第一季度的人民币8.411亿元增长311.8%，较2020年第四季度的人民币40.6亿元下降14.6%。</li><li>2021年第一季度汽车利润率为16.9%，而2020年第一季度为8.4%，2020年第四季度为17.1%。</li><li>2021年第一季度总收入为人民币35.8亿元（5.457亿美元），较2020年第一季度的人民币8.517亿元增长319.8%，较2020年第四季度的人民币41.5亿元下降13.8%2020年。</li><li>2021年第一季度毛利为人民币6.167亿元（9410万美元），较2020年第一季度的人民币6830万元增长802.9%，较2020年第四季度的人民币7.246亿元下降14.9%。</li><li>2021年第一季度毛利率为17.3%，而2020年第一季度为8.0%，2020年第四季度为17.5%。</li><li>2021年第一季度经营亏损为人民币4.077亿元（6220万美元），较2020年第一季度的人民币2.342亿元增长74.1%，较2020年第四季度的人民币7890万元增长416.7%。2021年第一季度非公认会计准则运营亏损3为人民币2.248亿元（3430万美元），较2020年第一季度的人民币2.342亿元下降4.0%，较2020年第一季度的人民币7110万元增长216.2%。2020年第四季度。</li><li>2021年第一季度净亏损为人民币3.6亿元（5490万美元），而2020年第一季度净亏损为人民币7710万元，2020年第四季度净利润为人民币1.075亿元。2021年第一季度非公认会计准则净亏损3为人民币1.77亿元（2700万美元），而2020年第一季度净亏损为人民币2.534亿元，2020年第四季度净利润为人民币1.154亿元。</li><li>2021年第一季度经营现金流为人民币9.263亿元（1.414亿美元），较2020年第一季度负净现金流人民币6300万元增加人民币9.893亿元，较2020年第四季度人民币18.2亿元减少49.1%。</li><li>2021年第一季度自由现金流4为人民币5.702亿元（8700万美元），较2020年第一季度负净现金流人民币1.852亿元增加人民币7.554亿元，较2020年第四季度人民币16.0亿元减少64.3%。</li></ul></blockquote></p><p><b>Deliveries Update</b></p><p><blockquote><b>交付更新</b></blockquote></p><p><ul><li>In April 2021, the Company delivered 5,539 Li ONEs, representing a 111.3% increase compared to April 2020. As of April 30, 2021, the Company had 73 retail stores covering 53 cities, in addition to 143 servicing centers and Li Auto-authorized body and paint shops operating in 105 cities.</li></ul><b>Issuance of Convertible Senior Notes</b></p><p><blockquote><ul><li>于二零二一年四月，本公司交付理想ONE 5,539辆，较二零二零年四月增长111.3%。截至2021年4月30日，该公司拥有73家零售店，覆盖53个城市，此外还有143家服务中心以及理想汽车授权的车身和喷漆店在105个城市运营。</li></ul><b>发行可换股优先票据</b></blockquote></p><p></p><p><ul><li>In April 2021, the Company completed the offering of US$862.5 million in aggregate principal amount of its 0.25% convertible senior notes due 2028 (the “Notes”), which included the exercise in full by the initial purchasers in the Notes offering of their option to purchase up to an additional US$112.5 million in aggregate principal amount of the Notes.</li><li>The Company plans to use the net proceeds from the Notes offering for (i) research and development of new vehicle models, including BEV models, (ii) research and development of leading technologies, and (iii) working capital and other general corporate purposes.</li></ul><b>2021 Li ONE</b></p><p><blockquote><ul><li>于二零二一年四月，本公司完成发售本金总额为862.5百万美元于二零二八年到期的0.25%可换股优先票据（“票据”），其中包括票据发售中的初始购买者悉数行使其购买额外最多本金总额为112,500,000美元的票据的选择权。</li><li>公司计划将票据发行所得款项净额用于(i)研发新车型，包括纯电动汽车车型，(ii)研发领先技术，以及(iii)营运资金和其他一般公司用途。</li></ul><b>2021款理想ONE</b></blockquote></p><p><ul><li>On May 25, 2021, the Company officially released the 2021 Li ONE, the first vehicle with Navigation on ADAS (NOA) as a standard configuration in the world. It features comprehensive upgrades, including an enhanced NEDC range of 1,080 kilometers, optimized mobility comfort, and more intelligent cockpit, bringing premium features to users at a flat retail price of RMB338,000. Deliveries of the 2021 Li ONE will commence on June 1, 2021.</li><li>With software and hardware optimization and its integrated powertrain system, the 2021 Li ONE can achieve an NEDC range of 1,080 kilometers and a WLTC range of 890 kilometers. Its energy efficiency in fuel mode is 6.05 liter per 100 kilometers based on the NEDC standard operational condition, best in class among large-sized four-wheel drive SUVs.</li></ul><b>CEO and CFO Comments</b></p><p><blockquote><ul><li>2021年5月25日，公司正式发布2021款理想ONE，这是全球首款将ADAS导航（NOA）作为标准配置的车辆。它进行了全面升级，包括增强的NEDC续航里程1,080公里、优化的移动舒适性和更智能的座舱，以人民币33.8万元的统一零售价为用户带来优质功能。2021款Li ONE将于2021年6月1日开始交付。</li><li>凭借软硬件优化及其集成的动力总成系统，2021款理想ONE可实现1080公里的NEDC续航和890公里的WLTC续航。其燃油模式下的能效在NEDC标准工况下为百公里6.05升，在大尺寸四驱SUV中属于同级最佳。</li></ul><b>首席执行官和首席财务官评论</b></blockquote></p><p>Mr.Xiang Li, founder, chairman, and chief executive officer of Li Auto, commented, “We delivered 12,579 Li ONEs during the quarter, up 334.4% year over year. Li ONE was the second best-selling new energy SUV inChinain the first quarter as our compelling product offering and superior user experience continued to delight users and boost brand awareness, while the unwavering support of our direct sales and servicing network underpinned our growth.</p><p><blockquote>理想汽车创始人、董事长兼首席执行官李翔先生表示：“本季度我们交付了12,579辆理想ONE，同比增长334.4%。理想ONE是中国第二畅销的新能源SUV第一季度，我们引人注目的产品供应和卓越的用户体验继续取悦用户并提高品牌知名度，而我们直销和服务网络的坚定支持支撑了我们的增长。</blockquote></p><p>“On May 25, we released our 2021 Li ONE. The model has elevated the extended range electric technology to a brand-new level, achieving an NEDC range of 1,080 kilometers and a WLTC range of 890 kilometers. Its energy efficiency in the fuel mode takes consumption as low as 6.05 liter per 100 kilometers based on the NEDC standard operational condition, a level that is unparalleled among large-sized four-wheel drive SUVs. I am very proud of our R&amp;D team’s successful efforts to improve the range-extended technology.</p><p><blockquote>“5月25日，我们发布了2021款理想ONE，该车型将增程电动技术提升到了一个全新的高度，实现了1080公里的NEDC续航和890公里的WLTC续航，其燃油模式下的能效以NEDC标准工况计算百公里油耗低至6.05升，这一水平在大尺寸四驱SUV中无与伦比。我对我们研发团队成功改进增程技术感到非常自豪。</blockquote></p><p>“The 2021 Li ONE is the first model in the world offering Navigation on ADAS in a standard configuration. Combining our self-developed ADAS with dedicated dual Horizon Robotics Journey 3 processors, an 8-megapixel front-view camera, 5 latest millimeter-wave radars, and high-definition maps, the 2021 Li ONE delivers a safer, easier, and more convenient driving experience, echoing our belief that active safety should be standard, not optional features.</p><p><blockquote>“2021款Li ONE是全球首款在标准配置中提供ADAS导航的车型。将我们自主开发的ADAS与专用的双Horizon Robotics Journey 3处理器、800万像素前视摄像头、5个最新毫米波雷达和高清地图相结合，2021款Li ONE提供了更安全、更轻松、更便捷的驾驶体验，呼应了我们的信念，即主动安全应该是标准配置，而不是可选功能。</blockquote></p><p>“Li ONE has been well loved by family users for its spacious six-seat interior layout. And the 2021 Li ONE enhances its excellence in space, comfort, and intelligence by equipping the front and second row seats with lumbar massage functions, increasing the leg room in the third row by 41 millimeters, while also featuring a smarter in-car voice assistant ‘LiXiang Tong Xue(理想同学),’ providing a high caliber and overall more comfortable, roomier, and more intelligent space for more families.</p><p><blockquote>“理想ONE以其宽敞的六座内部布局深受家庭用户的喜爱。而2021款理想ONE通过在前二排座椅配备腰部按摩功能，提升了其在空间、舒适、智能方面的卓越表现，第三排腿部空间增加了41毫米，同时还配备了更智能的车载语音助手‘理想同学’，为更多家庭提供了高品质、整体更舒适、更宽敞、更智能的空间。</blockquote></p><p>“Is it possible to build a smart electric vehicle that makes families happier? With the 2021 Li ONE, we can confidently say yes, a resounding yes!” concludedMr. Li.</p><p><blockquote>“有没有可能打造一款让家庭更幸福的智能电动车？有了2021款理想ONE，我们可以自信地说yes，响亮的yes！”先生总结道。李。</blockquote></p><p>Mr.Tie Li, chief financial officer of Li Auto, added, “We are pleased with our healthy financial performance during the first quarter. Our total revenues reached RMB3.58 billion, more than quadrupling from the first quarter of 2020 and exceeding the top end of our revenue guidance by 11.2%, while our gross margin stayed robust at 17.3%. Amid our ongoing efforts to enhance investment in R&amp;D as well as our direct sales and servicing network, operating expenses increased 27.5% quarter-over-quarter and 238.6% year-over-year. We also raised over US$840 million in net proceeds through our successful convertible senior notes offering, strengthening our capital base for future growth as we increase our R&amp;D investments in leading technologies, prepare for new model launches, and gear up for further increases in demand.”</p><p><blockquote>理想汽车首席财务官李铁先生补充道：“我们对第一季度健康的财务表现感到满意。我们的总收入达到人民币35.8亿元，比2020年第一季度增长了四倍多，超过了收入指导的上限11.2%，而我们的毛利率保持在17.3%的强劲水平。由于我们不断努力加大对研发以及直销和服务网络的投资，运营费用环比增长27.5%，同比增长238.6%。我们还通过成功发行可转换优先票据筹集了超过8.4亿美元的净收益，随着我们增加对领先技术的研发投资、为新车型推出做好准备以及为需求的进一步增长做好准备，我们增强了未来增长的资本基础。”</blockquote></p><p><b><u>Financial Results for the First Quarter of 2021</u></b></p><p><blockquote><b><u>2021年第一季度财务业绩</u></b></blockquote></p><p><b>Revenues</b></p><p><blockquote><b>收入</b></blockquote></p><p></p><p><ul><li><b>Total revenues</b>were RMB3.58 billion (US$545.7 million) in the first quarter of 2021, representing an increase of 319.8% from RMB851.7 million in the first quarter of 2020 and a decrease of 13.8% from RMB4.15 billion in the fourth quarter of 2020.</li><li><b>Vehicle sales</b>were RMB3.46 billion (US$528.7 million) in the first quarter of 2021, representing an increase of 311.8% from RMB841.1 million in the first quarter of 2020 and a decrease of 14.6% from RMB4.06 billion in the fourth quarter of 2020. The increase in revenue from vehicle sales over the first quarter of 2020 was mainly attributable to the increase in vehicle deliveries with the continuous expansion of our sales network. The decrease in revenue from vehicle sales from the fourth quarter of 2020 was mainly attributable to the decrease in vehicle deliveries, which were affected by seasonal factors related to the Chinese New Year holiday as well as the localized COVID-19 outbreaks in the northern China in February 2021.</li><li><b>Other sales and services</b>were RMB111.5 million (US$17.0 million) in the first quarter of 2021, representing an increase of 951.9% from RMB10.6 million in the first quarter of 2020 and an increase of 25.0% from RMB89.2 million in the fourth quarter of 2020. The increase in revenue from other sales and services over the first and fourth quarter of 2020 was mainly attributable to increased sales of charging stalls, accessories and services in line with higher accumulated vehicle sales.</li></ul><b>Cost of Sales and Gross Margin</b></p><p><blockquote><ul><li><b>总收入</b>2021年第一季度为人民币35.8亿元（5.457亿美元），较2020年第一季度的人民币8.517亿元增长319.8%，较2020年第四季度的人民币41.5亿元下降13.8%。</li><li><b>车辆销售</b>2021年第一季度为人民币34.6亿元（5.287亿美元），较2020年第一季度的人民币8.411亿元增长311.8%，较2020年第四季度的人民币40.6亿元下降14.6%。汽车销售收入较二零二零年第一季度增加，主要是由于我们销售网络不断扩大，汽车交付量增加。汽车销售收入较二零二零年第四季度减少，主要由于受农历新年假期相关季节性因素以及二零二一年二月中国北方局部爆发COVID-19疫情影响，汽车交付量减少。</li><li><b>其他销售及服务</b>2021年第一季度为人民币111.5百万元（1700万美元），较2020年第一季度的人民币1060万元增长951.9%，较2020年第四季度的人民币8920万元增长25.0%。其他销售及服务收入较二零二零年第一及第四季度增加，主要由于充电站、配件及服务的销售增加，与较高的累计汽车销量一致。</li></ul><b>销售成本及毛利率</b></blockquote></p><p><ul><li><b>Cost of sales</b>was RMB2.96 billion (US$451.6 million) in the first quarter of 2021, representing an increase of 277.6% from RMB783.4 million in the first quarter of 2020 and a decrease of 13.5% from RMB3.42 billion in the fourth quarter of 2020.</li><li><b>Gross profit</b>was RMB616.7 million (US$94.1 million) in the first quarter of 2021, representing an increase of 802.9% from RMB 68.3 million in the first quarter of 2020 and a decrease of 14.9% from RMB724.6 million in the fourth quarter of 2020.</li><li><b>Vehicle margin</b>was 16.9% in the first quarter of 2021, compared with 8.4% in the first quarter of 2020 and 17.1% in the fourth quarter of 2020. The increase in vehicle margin over the first quarter of 2020 was primarily attributable to lower material cost and lower unit manufacturing overhead cost derived from the increased production volume. The slight decrease in vehicle margin from the fourth quarter of 2020 was primarily due to lower average selling price caused by promotional activities launched in the first quarter of 2021, partially offset by the decreased material cost.</li><li><b>Gross margin</b>was 17.3% in the first quarter of 2021, compared with 8.0% in the first quarter of 2020 and 17.5% in the fourth quarter of 2020, which was mainly driven by the change of vehicle margin.</li></ul><b>Operating Expenses</b></p><p><blockquote><ul><li><b>销售成本</b>2021年第一季度为人民币29.6亿元（4.516亿美元），较2020年第一季度的人民币7.834亿元增长277.6%，较2020年第四季度的人民币34.2亿元下降13.5%。</li><li><b>毛利</b>2021年第一季度为人民币6.167亿元（9410万美元），较2020年第一季度的人民币6830万元增长802.9%，较2020年第四季度的人民币7.246亿元下降14.9%。</li><li><b>车辆余量</b>为16.9%，而2020年第一季度为8.4%，2020年第四季度为17.1%。汽车利润率较2020年第一季度的增长主要归因于产量增加带来的材料成本降低和单位制造间接成本降低。汽车利润率较2020年第四季度略有下降，主要是由于2021年第一季度推出的促销活动导致平均售价下降，部分被材料成本下降所抵消。</li><li><b>毛利率</b>2021年第一季度为17.3%，而2020年第一季度为8.0%，2020年第四季度为17.5%，主要受车辆利润率变化所推动。</li></ul><b>营业费用</b></blockquote></p><p></p><p><ul><li><b>Operating expenses</b>were RMB1.02 billion (US$156.4 million) in the first quarter of 2021, representing an increase of 238.6% from RMB302.5 million in the first quarter of 2020 and an increase of 27.5% from RMB803.5 million in the fourth quarter of 2020.</li><li><b>Research and development expenses</b>were RMB514.5 million (US$78.5 million) in the first quarter of 2021, representing an increase of 171.2% from RMB189.7 million in the first quarter of 2020 and an increase of 37.5% from RMB374.2 million in the fourth quarter of 2020.<b>Non-GAAP research and development expenses</b>3were RMB397.9 million (US$60.7 million) in the first quarter of 2021, representing an increase of 109.8% from RMB189.7 million in the first quarter of 2020 and an increase of 7.8% from RMB369.1 million in the fourth quarter of 2020. The increase in research and development expenses over the first and fourth quarter of 2020 was primarily attributable to (i) increased share-based compensation expenses derived from incremental share options granted with higher fair value in January 2021 while no share-based compensation expenses were recognized for stock options with service conditions and a performance condition related to our IPO in the first quarter of 2020, (ii) increased research and development activities for the Company’s next vehicle models, and (iii) increased headcount.</li><li><b>Selling, general and administrative expenses</b>were RMB509.9 million (US$77.8 million) in the first quarter of 2021, representing an increase of 352.0% from RMB112.8 million in the first quarter of 2020 and an increase of 18.8% from RMB429.3 million in the fourth quarter of 2020.<b>Non-GAAP selling, general and administrative expenses</b>3were RMB449.8 million (US$68.7 million) in the first quarter of 2021, representing an increase of 298.8% from RMB112.8 million in the first quarter of 2020 and an increase of 5.4% from RMB426.8 million in the fourth quarter of 2020. The increase in selling, general and administrative expenses over the first and fourth quarter of 2020 was primarily driven by (i) increased marketing and promotional activities, (ii) increased headcount and rental expenses with the expansion of the Company’s sales network, and (iii) increased share-based compensation expenses.</li></ul><b>Loss from Operations</b></p><p><blockquote><ul><li><b>营业费用</b>2021年第一季度为人民币10.2亿元（1.564亿美元），较2020年第一季度的人民币3.025亿元增长238.6%，较2020年第四季度的人民币8.035亿元增长27.5%。</li><li><b>研发费用</b>2021年第一季度为人民币5.145亿元（7850万美元），较2020年第一季度的人民币1.897亿元增长171.2%，较2020年第四季度的人民币3.742亿元增长37.5%。<b>非公认会计准则研发费用</b>32021年第一季度为人民币3.979亿元（6070万美元），较2020年第一季度的人民币1.897亿元增长109.8%，较2020年第四季度的人民币3.691亿元增长7.8%。2020年第一季度和第四季度研发费用的增加主要归因于（i）2021年1月授予的公允价值较高的增量购股权产生的以股份为基础的薪酬费用增加，而没有确认以股份为基础的薪酬费用对于2020年第一季度具有服务条件和与我们的IPO相关的绩效条件的股票期权，（ii）公司下一代车型的研发活动增加，以及（iii）员工人数增加。</li><li><b>销售、一般及行政开支</b>2021年第一季度为人民币5.099亿元（7780万美元），较2020年第一季度的人民币1.128亿元增长352.0%，较2020年第四季度的人民币4.293亿元增长18.8%。<b>非公认会计准则销售、一般和管理费用</b>2021年第一季度为人民币4.498亿元（6870万美元），较2020年第一季度的人民币1.128亿元增长298.8%，较2020年第四季度的人民币4.268亿元增长5.4%。2020年第一季度和第四季度销售、一般和管理费用的增加主要是由于(i)营销和促销活动的增加，(ii)随着公司销售网络的扩张，员工人数和租金费用增加，以及(iii)以股份为基础的薪酬费用增加。</li></ul><b>经营亏损</b></blockquote></p><p><ul><li><b>Loss from operations</b>was RMB407.7 million (US$62.2 million) in the first quarter of 2021, representing an increase of 74.1% from RMB234.2 million in the first quarter of 2020 and an increase of 416.7% from RMB78.9 million in the fourth quarter of 2020.<b>Non-GAAP loss from operations</b>was RMB224.8 million (US$34.3 million) in the first quarter of 2021, representing a decrease of 4.0% from RMB234.2 million in the first quarter of 2020 and an increase of 216.2% from RMB71.1 million in the fourth quarter of 2020.</li></ul><b>Net Loss and Earnings Per Share</b></p><p><blockquote><ul><li><b>经营亏损</b>2021年第一季度为人民币4.077亿元（6220万美元），较2020年第一季度的人民币2.342亿元增长74.1%，较2020年第四季度的人民币7890万元增长416.7%。<b>非公认会计准则运营损失</b>2021年第一季度为人民币2.248亿元（3430万美元），较2020年第一季度的人民币2.342亿元下降4.0%，较2020年第四季度的人民币7110万元增长216.2%。</li></ul><b>每股净亏损及盈利</b></blockquote></p><p><ul><li><b>Net loss</b>was RMB360.0 million (US$54.9 million) in the first quarter of 2021, compared with RMB77.1 million net loss in the first quarter of 2020 and RMB107.5 million net income in the fourth quarter of 2020.<b>Non-GAAP net loss</b>was RMB177.0 million (US$27.0 million) in the first quarter of 2021, compared with RMB253.4 million net loss in the first quarter of 2020 and RMB115.4 million net income in the fourth quarter of 2020.</li><li><b>Basic and diluted net loss per ADS6attributable to ordinary shareholders</b>were both RMB0.40 (US$0.06) in the first quarter of 2021.<b>Non-GAAP basic and diluted net loss per ADS attributable to ordinary shareholders</b>3were both RMB0.20 (US$0.03) in the first quarter of 2021.</li></ul><b>Cash position, Operating Cash Flow and Free Cash Flow</b></p><p><blockquote><ul><li><b>净亏损</b>2021年第一季度净利润为人民币3.6亿元（5490万美元），而2020年第一季度净亏损为人民币7710万元，2020年第四季度净利润为人民币1.075亿元。<b>非公认会计准则净亏损</b>2021年第一季度净利润为人民币1.77亿元（2700万美元），而2020年第一季度净亏损为人民币2.534亿元，2020年第四季度净利润为人民币1.154亿元。</li><li><b>普通股股东应佔每股美国存讬股份基本及摊薄亏损净额6</b>2021年第一季度均为人民币0.40元（0.06美元）。<b>非公认会计准则归属于普通股股东的每股美国存托凭证基本和摊薄净亏损</b>2021年第一季度均为人民币0.20元（0.03美元）。</li></ul><b>现金状况、经营现金流和自由现金流</b></blockquote></p><p><ul><li><b>Balance of cash and cash equivalents, restricted cash, time deposits and short-term investments</b>was RMB30.36 billion (US$4.63 billion) as of March 31, 2021.</li><li><b>Operating cash flow</b>was RMB926.3 million (US$141.4 million) in the first quarter of 2021, representing an increase of RMB989.3 million from negative net cash flow of RMB63.0 million in the first quarter of 2020 and a decrease of 49.1% from RMB1.82 billion in the fourth quarter of 2020.</li><li><b>Free cash flow</b>was RMB570.2 million (US$87.0 million) in the first quarter of 2021, representing an increase of RMB755.4 million from negative net cash flow of RMB185.2 million in the first quarter of 2020 and a decrease of 64.3% from RMB1.60 billion in the fourth quarter of 2020.</li></ul><b><u>Business Outlook</u></b></p><p><blockquote><ul><li><b>现金及现金等价物、受限制现金、定期存款和短期投资余额</b>截至2021年3月31日为人民币303.6亿元（46.3亿美元）。</li><li><b>经营现金流量</b>2021年第一季度为人民币9.263亿元（1.414亿美元），较2020年第一季度负净现金流人民币6300万元增加人民币9.893亿元，较2020年第一季度的人民币18.2亿元减少49.1%2020年第四季度。</li><li><b>自由现金流</b>2021年第一季度为人民币5.702亿元（8700万美元），较2020年第一季度的负净现金流人民币1.852亿元增加人民币7.554亿元，较2020年第一季度的人民币16.0亿元减少64.3%。2020年第四季度。</li></ul><b><u>业务展望</u></b></blockquote></p><p>For the second quarter of 2021, the Company expects:</p><p><blockquote>对于2021年第二季度，公司预计：</blockquote></p><p></p><p><ul><li><b>Deliveries of vehicles</b>to be between 14,500 and 15,500 vehicles, representing an increase of 119.6% to 134.7% from the second quarter of 2020.</li><li><b>Total revenues</b>to be between RMB3.99 billion (US$609.0 million) and RMB4.27 billion (US$651.7 million), representing an increase of 104.6% to 119.0% from the second quarter of 2020.</li></ul>This business outlook reflects the Company’s current and preliminary view on the business situation and market condition, which is subject to change.</p><p><blockquote><ul><li><b>车辆交付</b>在14,500辆至15,500辆之间，较2020年第二季度增长119.6%至134.7%。</li><li><b>总收入</b>将在人民币39.9亿元（6.090亿美元）至人民币42.7亿元（6.517亿美元）之间，较2020年第二季度增长104.6%至119.0%。</li></ul>本业务展望反映了公司对业务状况和市场状况的当前和初步看法，可能会发生变化。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Li Auto EPS beats by $0.01, beats on revenue<blockquote>理想汽车EPS超过预期0.01美元，营收超过预期</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; 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#7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLi Auto EPS beats by $0.01, beats on revenue<blockquote>理想汽车EPS超过预期0.01美元，营收超过预期</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-05-26 16:06</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(May 26)&nbsp;Li Auto Inc. (Nasdaq: LI), an innovator in China’s new energy vehicle market, today announced its unaudited financial results for the first quarter ended March&nbsp;31, 2021.</p><p><blockquote>（5月26日）国内新能源汽车市场创新者理想汽车公司（纳斯达克：LI）今日公布截至2021年3月31日的第一季度未经审计财务业绩。</blockquote></p><p><ul><li>Li Q1 Non-GAAP EPS of -$0.03 <b>beats</b> by $0.01; GAAP EPS of -$0.06 <b>misses</b> by $0.05.</li><li>Revenue of $545.7M (+319.8% Y/Y)&nbsp;<b>beats</b> by $42.26M.</li><li>Quarterly total revenues reached RMB3.58 billion (US$545.7 million)1Quarterly deliveries were 12,579 vehicles</li><li>Quarterly gross margin reached 17.3%.</li><li><b>Q2 Outlook</b>:&nbsp;Total revenues to be between RMB3.99B ($609M) and RMB4.27B ($651.7M), consensus $663.51, representing an increase of 104.6% to 119.0% from Q2 2020.</li><li>Deliveries of vehicles to be between 14,500 and 15,500 vehicles, representing an increase of 119.6% to 134.7% from Q2 2020.</li></ul><img src=\"https://static.tigerbbs.com/ff735550080b330b011ba4dbd0dedb68\" tg-width=\"662\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p><p><blockquote><ul><li>Li第一季度非GAAP每股收益为-0.03美元<b>节拍</b>增加0.01美元；GAAP每股收益为-0.06美元<b>未命中</b>0.05美元。</li><li>收入为5.457亿美元（同比增长319.8%）<b>节拍</b>增加了4226万美元。</li><li>季度总收入达到35.8亿元人民币（5.457亿美元）1季度交付量为12,579辆</li><li>季度毛利率达到17.3%。</li><li><b>第二季度展望</b>：总收入将在人民币39.9亿元（6.09亿美元）至人民币42.7亿元（6.517亿美元）之间，市场普遍预期为663.51美元，较2020年第二季度增长104.6%至119.0%。</li><li>汽车交付量将在14,500至15,500辆之间，较2020年第二季度增长119.6%至134.7%。</li></ul></blockquote></p><p><b>Operating Highlights for the First Quarter of 2021</b></p><p><blockquote><b>2021年第一季度经营亮点</b></blockquote></p><p><ul><li>Deliveries of Li ONEs were 12,579 vehicles in the first quarter of 2021, representing a 334.4% year-over-year increase.</li></ul><img src=\"https://static.tigerbbs.com/637a5f62341f333ae7dc2317c883b83a\" tg-width=\"609\" tg-height=\"193\" referrerpolicy=\"no-referrer\"></p><p><blockquote><ul><li>2021年第一季度，理想ONE的交付量为12,579辆，同比增长334.4%。</li></ul></blockquote></p><p><ul><li>As of March 31, 2021, the Company had 65 retail stores covering 49 cities and 135 servicing centers and Li Auto-authorized body and paint shops operating in 98 cities.</li></ul><b>Financial Highlights for the First Quarter of 2021</b></p><p><blockquote><ul><li>截至2021年3月31日，该公司拥有65家零售店，覆盖49个城市，135家服务中心以及理想汽车授权的车身和喷漆店在98个城市运营。</li></ul><b>2021年第一季度财务摘要</b></blockquote></p><p><ul><li>Vehicle sales were RMB3.46 billion (US$528.7 million) in the first quarter of 2021, representing an increase of 311.8% from RMB841.1 million in the first quarter of 2020 and a decrease of 14.6% from RMB4.06 billion in the fourth quarter of 2020.</li><li>Vehicle margin2was 16.9% in the first quarter of 2021, compared with 8.4% in the first quarter of 2020 and 17.1% in the fourth quarter of 2020.</li><li>Total revenues were RMB3.58 billion (US$545.7 million) in the first quarter of 2021, representing an increase of 319.8% from RMB851.7 million in the first quarter of 2020 and a decrease of 13.8% from RMB4.15 billion in the fourth quarter of 2020.</li><li>Gross profit was RMB616.7 million (US$94.1 million) in the first quarter of 2021, representing an increase of 802.9% from RMB68.3 million in the first quarter of 2020 and a decrease of 14.9% from RMB724.6 million in the fourth quarter of 2020.</li><li>Gross margin was 17.3% in the first quarter of 2021, compared with 8.0% in the first quarter of 2020 and 17.5% in the fourth quarter of 2020.</li><li>Loss from operations was RMB407.7 million (US$62.2 million) in the first quarter of 2021, representing an increase of 74.1% from RMB234.2 million in the first quarter of 2020 and an increase of 416.7% from RMB78.9 million in the fourth quarter of 2020. Non-GAAP loss from operations3was RMB224.8 million (US$34.3 million) in the first quarter of 2021, representing a decrease of 4.0% from RMB234.2 million in the first quarter of 2020 and an increase of 216.2% from RMB71.1 million in the fourth quarter of 2020.</li><li>Net loss was RMB360.0 million (US$54.9 million) in the first quarter of 2021, compared with RMB77.1 million net loss in the first quarter of 2020 and RMB107.5 million net income in the fourth quarter of 2020. Non-GAAP net loss3was RMB177.0 million (US$27.0 million) in the first quarter of 2021, compared with RMB253.4 million net loss in the first quarter of 2020 and RMB115.4 million net income in the fourth quarter of 2020.</li><li>Operating cash flow was RMB926.3 million (US$141.4 million) in the first quarter of 2021, representing an increase of RMB989.3 million from negative net cash flow of RMB63.0 million in the first quarter of 2020 and a decrease of 49.1% from RMB1.82 billion in the fourth quarter of 2020.</li><li>Free cash flow4was RMB570.2 million (US$87.0 million) in the first quarter of 2021, representing an increase of RMB755.4 million from negative net cash flow of RMB185.2 million in the first quarter of 2020 and a decrease of 64.3% from RMB1.60 billion in the fourth quarter of 2020.</li></ul><img src=\"https://static.tigerbbs.com/de30e1ac5d69693451c6d4e9f4b33061\" tg-width=\"997\" tg-height=\"536\" referrerpolicy=\"no-referrer\"></p><p><blockquote><ul><li>2021年第一季度汽车销售额为人民币34.6亿元（5.287亿美元），较2020年第一季度的人民币8.411亿元增长311.8%，较2020年第四季度的人民币40.6亿元下降14.6%。</li><li>2021年第一季度汽车利润率为16.9%，而2020年第一季度为8.4%，2020年第四季度为17.1%。</li><li>2021年第一季度总收入为人民币35.8亿元（5.457亿美元），较2020年第一季度的人民币8.517亿元增长319.8%，较2020年第四季度的人民币41.5亿元下降13.8%2020年。</li><li>2021年第一季度毛利为人民币6.167亿元（9410万美元），较2020年第一季度的人民币6830万元增长802.9%，较2020年第四季度的人民币7.246亿元下降14.9%。</li><li>2021年第一季度毛利率为17.3%，而2020年第一季度为8.0%，2020年第四季度为17.5%。</li><li>2021年第一季度经营亏损为人民币4.077亿元（6220万美元），较2020年第一季度的人民币2.342亿元增长74.1%，较2020年第四季度的人民币7890万元增长416.7%。2021年第一季度非公认会计准则运营亏损3为人民币2.248亿元（3430万美元），较2020年第一季度的人民币2.342亿元下降4.0%，较2020年第一季度的人民币7110万元增长216.2%。2020年第四季度。</li><li>2021年第一季度净亏损为人民币3.6亿元（5490万美元），而2020年第一季度净亏损为人民币7710万元，2020年第四季度净利润为人民币1.075亿元。2021年第一季度非公认会计准则净亏损3为人民币1.77亿元（2700万美元），而2020年第一季度净亏损为人民币2.534亿元，2020年第四季度净利润为人民币1.154亿元。</li><li>2021年第一季度经营现金流为人民币9.263亿元（1.414亿美元），较2020年第一季度负净现金流人民币6300万元增加人民币9.893亿元，较2020年第四季度人民币18.2亿元减少49.1%。</li><li>2021年第一季度自由现金流4为人民币5.702亿元（8700万美元），较2020年第一季度负净现金流人民币1.852亿元增加人民币7.554亿元，较2020年第四季度人民币16.0亿元减少64.3%。</li></ul></blockquote></p><p><b>Deliveries Update</b></p><p><blockquote><b>交付更新</b></blockquote></p><p><ul><li>In April 2021, the Company delivered 5,539 Li ONEs, representing a 111.3% increase compared to April 2020. As of April 30, 2021, the Company had 73 retail stores covering 53 cities, in addition to 143 servicing centers and Li Auto-authorized body and paint shops operating in 105 cities.</li></ul><b>Issuance of Convertible Senior Notes</b></p><p><blockquote><ul><li>于二零二一年四月，本公司交付理想ONE 5,539辆，较二零二零年四月增长111.3%。截至2021年4月30日，该公司拥有73家零售店，覆盖53个城市，此外还有143家服务中心以及理想汽车授权的车身和喷漆店在105个城市运营。</li></ul><b>发行可换股优先票据</b></blockquote></p><p></p><p><ul><li>In April 2021, the Company completed the offering of US$862.5 million in aggregate principal amount of its 0.25% convertible senior notes due 2028 (the “Notes”), which included the exercise in full by the initial purchasers in the Notes offering of their option to purchase up to an additional US$112.5 million in aggregate principal amount of the Notes.</li><li>The Company plans to use the net proceeds from the Notes offering for (i) research and development of new vehicle models, including BEV models, (ii) research and development of leading technologies, and (iii) working capital and other general corporate purposes.</li></ul><b>2021 Li ONE</b></p><p><blockquote><ul><li>于二零二一年四月，本公司完成发售本金总额为862.5百万美元于二零二八年到期的0.25%可换股优先票据（“票据”），其中包括票据发售中的初始购买者悉数行使其购买额外最多本金总额为112,500,000美元的票据的选择权。</li><li>公司计划将票据发行所得款项净额用于(i)研发新车型，包括纯电动汽车车型，(ii)研发领先技术，以及(iii)营运资金和其他一般公司用途。</li></ul><b>2021款理想ONE</b></blockquote></p><p><ul><li>On May 25, 2021, the Company officially released the 2021 Li ONE, the first vehicle with Navigation on ADAS (NOA) as a standard configuration in the world. It features comprehensive upgrades, including an enhanced NEDC range of 1,080 kilometers, optimized mobility comfort, and more intelligent cockpit, bringing premium features to users at a flat retail price of RMB338,000. Deliveries of the 2021 Li ONE will commence on June 1, 2021.</li><li>With software and hardware optimization and its integrated powertrain system, the 2021 Li ONE can achieve an NEDC range of 1,080 kilometers and a WLTC range of 890 kilometers. Its energy efficiency in fuel mode is 6.05 liter per 100 kilometers based on the NEDC standard operational condition, best in class among large-sized four-wheel drive SUVs.</li></ul><b>CEO and CFO Comments</b></p><p><blockquote><ul><li>2021年5月25日，公司正式发布2021款理想ONE，这是全球首款将ADAS导航（NOA）作为标准配置的车辆。它进行了全面升级，包括增强的NEDC续航里程1,080公里、优化的移动舒适性和更智能的座舱，以人民币33.8万元的统一零售价为用户带来优质功能。2021款Li ONE将于2021年6月1日开始交付。</li><li>凭借软硬件优化及其集成的动力总成系统，2021款理想ONE可实现1080公里的NEDC续航和890公里的WLTC续航。其燃油模式下的能效在NEDC标准工况下为百公里6.05升，在大尺寸四驱SUV中属于同级最佳。</li></ul><b>首席执行官和首席财务官评论</b></blockquote></p><p>Mr.Xiang Li, founder, chairman, and chief executive officer of Li Auto, commented, “We delivered 12,579 Li ONEs during the quarter, up 334.4% year over year. Li ONE was the second best-selling new energy SUV inChinain the first quarter as our compelling product offering and superior user experience continued to delight users and boost brand awareness, while the unwavering support of our direct sales and servicing network underpinned our growth.</p><p><blockquote>理想汽车创始人、董事长兼首席执行官李翔先生表示：“本季度我们交付了12,579辆理想ONE，同比增长334.4%。理想ONE是中国第二畅销的新能源SUV第一季度，我们引人注目的产品供应和卓越的用户体验继续取悦用户并提高品牌知名度，而我们直销和服务网络的坚定支持支撑了我们的增长。</blockquote></p><p>“On May 25, we released our 2021 Li ONE. The model has elevated the extended range electric technology to a brand-new level, achieving an NEDC range of 1,080 kilometers and a WLTC range of 890 kilometers. Its energy efficiency in the fuel mode takes consumption as low as 6.05 liter per 100 kilometers based on the NEDC standard operational condition, a level that is unparalleled among large-sized four-wheel drive SUVs. I am very proud of our R&amp;D team’s successful efforts to improve the range-extended technology.</p><p><blockquote>“5月25日，我们发布了2021款理想ONE，该车型将增程电动技术提升到了一个全新的高度，实现了1080公里的NEDC续航和890公里的WLTC续航，其燃油模式下的能效以NEDC标准工况计算百公里油耗低至6.05升，这一水平在大尺寸四驱SUV中无与伦比。我对我们研发团队成功改进增程技术感到非常自豪。</blockquote></p><p>“The 2021 Li ONE is the first model in the world offering Navigation on ADAS in a standard configuration. Combining our self-developed ADAS with dedicated dual Horizon Robotics Journey 3 processors, an 8-megapixel front-view camera, 5 latest millimeter-wave radars, and high-definition maps, the 2021 Li ONE delivers a safer, easier, and more convenient driving experience, echoing our belief that active safety should be standard, not optional features.</p><p><blockquote>“2021款Li ONE是全球首款在标准配置中提供ADAS导航的车型。将我们自主开发的ADAS与专用的双Horizon Robotics Journey 3处理器、800万像素前视摄像头、5个最新毫米波雷达和高清地图相结合，2021款Li ONE提供了更安全、更轻松、更便捷的驾驶体验，呼应了我们的信念，即主动安全应该是标准配置，而不是可选功能。</blockquote></p><p>“Li ONE has been well loved by family users for its spacious six-seat interior layout. And the 2021 Li ONE enhances its excellence in space, comfort, and intelligence by equipping the front and second row seats with lumbar massage functions, increasing the leg room in the third row by 41 millimeters, while also featuring a smarter in-car voice assistant ‘LiXiang Tong Xue(理想同学),’ providing a high caliber and overall more comfortable, roomier, and more intelligent space for more families.</p><p><blockquote>“理想ONE以其宽敞的六座内部布局深受家庭用户的喜爱。而2021款理想ONE通过在前二排座椅配备腰部按摩功能，提升了其在空间、舒适、智能方面的卓越表现，第三排腿部空间增加了41毫米，同时还配备了更智能的车载语音助手‘理想同学’，为更多家庭提供了高品质、整体更舒适、更宽敞、更智能的空间。</blockquote></p><p>“Is it possible to build a smart electric vehicle that makes families happier? With the 2021 Li ONE, we can confidently say yes, a resounding yes!” concludedMr. Li.</p><p><blockquote>“有没有可能打造一款让家庭更幸福的智能电动车？有了2021款理想ONE，我们可以自信地说yes，响亮的yes！”先生总结道。李。</blockquote></p><p>Mr.Tie Li, chief financial officer of Li Auto, added, “We are pleased with our healthy financial performance during the first quarter. Our total revenues reached RMB3.58 billion, more than quadrupling from the first quarter of 2020 and exceeding the top end of our revenue guidance by 11.2%, while our gross margin stayed robust at 17.3%. Amid our ongoing efforts to enhance investment in R&amp;D as well as our direct sales and servicing network, operating expenses increased 27.5% quarter-over-quarter and 238.6% year-over-year. We also raised over US$840 million in net proceeds through our successful convertible senior notes offering, strengthening our capital base for future growth as we increase our R&amp;D investments in leading technologies, prepare for new model launches, and gear up for further increases in demand.”</p><p><blockquote>理想汽车首席财务官李铁先生补充道：“我们对第一季度健康的财务表现感到满意。我们的总收入达到人民币35.8亿元，比2020年第一季度增长了四倍多，超过了收入指导的上限11.2%，而我们的毛利率保持在17.3%的强劲水平。由于我们不断努力加大对研发以及直销和服务网络的投资，运营费用环比增长27.5%，同比增长238.6%。我们还通过成功发行可转换优先票据筹集了超过8.4亿美元的净收益，随着我们增加对领先技术的研发投资、为新车型推出做好准备以及为需求的进一步增长做好准备，我们增强了未来增长的资本基础。”</blockquote></p><p><b><u>Financial Results for the First Quarter of 2021</u></b></p><p><blockquote><b><u>2021年第一季度财务业绩</u></b></blockquote></p><p><b>Revenues</b></p><p><blockquote><b>收入</b></blockquote></p><p></p><p><ul><li><b>Total revenues</b>were RMB3.58 billion (US$545.7 million) in the first quarter of 2021, representing an increase of 319.8% from RMB851.7 million in the first quarter of 2020 and a decrease of 13.8% from RMB4.15 billion in the fourth quarter of 2020.</li><li><b>Vehicle sales</b>were RMB3.46 billion (US$528.7 million) in the first quarter of 2021, representing an increase of 311.8% from RMB841.1 million in the first quarter of 2020 and a decrease of 14.6% from RMB4.06 billion in the fourth quarter of 2020. The increase in revenue from vehicle sales over the first quarter of 2020 was mainly attributable to the increase in vehicle deliveries with the continuous expansion of our sales network. The decrease in revenue from vehicle sales from the fourth quarter of 2020 was mainly attributable to the decrease in vehicle deliveries, which were affected by seasonal factors related to the Chinese New Year holiday as well as the localized COVID-19 outbreaks in the northern China in February 2021.</li><li><b>Other sales and services</b>were RMB111.5 million (US$17.0 million) in the first quarter of 2021, representing an increase of 951.9% from RMB10.6 million in the first quarter of 2020 and an increase of 25.0% from RMB89.2 million in the fourth quarter of 2020. The increase in revenue from other sales and services over the first and fourth quarter of 2020 was mainly attributable to increased sales of charging stalls, accessories and services in line with higher accumulated vehicle sales.</li></ul><b>Cost of Sales and Gross Margin</b></p><p><blockquote><ul><li><b>总收入</b>2021年第一季度为人民币35.8亿元（5.457亿美元），较2020年第一季度的人民币8.517亿元增长319.8%，较2020年第四季度的人民币41.5亿元下降13.8%。</li><li><b>车辆销售</b>2021年第一季度为人民币34.6亿元（5.287亿美元），较2020年第一季度的人民币8.411亿元增长311.8%，较2020年第四季度的人民币40.6亿元下降14.6%。汽车销售收入较二零二零年第一季度增加，主要是由于我们销售网络不断扩大，汽车交付量增加。汽车销售收入较二零二零年第四季度减少，主要由于受农历新年假期相关季节性因素以及二零二一年二月中国北方局部爆发COVID-19疫情影响，汽车交付量减少。</li><li><b>其他销售及服务</b>2021年第一季度为人民币111.5百万元（1700万美元），较2020年第一季度的人民币1060万元增长951.9%，较2020年第四季度的人民币8920万元增长25.0%。其他销售及服务收入较二零二零年第一及第四季度增加，主要由于充电站、配件及服务的销售增加，与较高的累计汽车销量一致。</li></ul><b>销售成本及毛利率</b></blockquote></p><p><ul><li><b>Cost of sales</b>was RMB2.96 billion (US$451.6 million) in the first quarter of 2021, representing an increase of 277.6% from RMB783.4 million in the first quarter of 2020 and a decrease of 13.5% from RMB3.42 billion in the fourth quarter of 2020.</li><li><b>Gross profit</b>was RMB616.7 million (US$94.1 million) in the first quarter of 2021, representing an increase of 802.9% from RMB 68.3 million in the first quarter of 2020 and a decrease of 14.9% from RMB724.6 million in the fourth quarter of 2020.</li><li><b>Vehicle margin</b>was 16.9% in the first quarter of 2021, compared with 8.4% in the first quarter of 2020 and 17.1% in the fourth quarter of 2020. The increase in vehicle margin over the first quarter of 2020 was primarily attributable to lower material cost and lower unit manufacturing overhead cost derived from the increased production volume. The slight decrease in vehicle margin from the fourth quarter of 2020 was primarily due to lower average selling price caused by promotional activities launched in the first quarter of 2021, partially offset by the decreased material cost.</li><li><b>Gross margin</b>was 17.3% in the first quarter of 2021, compared with 8.0% in the first quarter of 2020 and 17.5% in the fourth quarter of 2020, which was mainly driven by the change of vehicle margin.</li></ul><b>Operating Expenses</b></p><p><blockquote><ul><li><b>销售成本</b>2021年第一季度为人民币29.6亿元（4.516亿美元），较2020年第一季度的人民币7.834亿元增长277.6%，较2020年第四季度的人民币34.2亿元下降13.5%。</li><li><b>毛利</b>2021年第一季度为人民币6.167亿元（9410万美元），较2020年第一季度的人民币6830万元增长802.9%，较2020年第四季度的人民币7.246亿元下降14.9%。</li><li><b>车辆余量</b>为16.9%，而2020年第一季度为8.4%，2020年第四季度为17.1%。汽车利润率较2020年第一季度的增长主要归因于产量增加带来的材料成本降低和单位制造间接成本降低。汽车利润率较2020年第四季度略有下降，主要是由于2021年第一季度推出的促销活动导致平均售价下降，部分被材料成本下降所抵消。</li><li><b>毛利率</b>2021年第一季度为17.3%，而2020年第一季度为8.0%，2020年第四季度为17.5%，主要受车辆利润率变化所推动。</li></ul><b>营业费用</b></blockquote></p><p></p><p><ul><li><b>Operating expenses</b>were RMB1.02 billion (US$156.4 million) in the first quarter of 2021, representing an increase of 238.6% from RMB302.5 million in the first quarter of 2020 and an increase of 27.5% from RMB803.5 million in the fourth quarter of 2020.</li><li><b>Research and development expenses</b>were RMB514.5 million (US$78.5 million) in the first quarter of 2021, representing an increase of 171.2% from RMB189.7 million in the first quarter of 2020 and an increase of 37.5% from RMB374.2 million in the fourth quarter of 2020.<b>Non-GAAP research and development expenses</b>3were RMB397.9 million (US$60.7 million) in the first quarter of 2021, representing an increase of 109.8% from RMB189.7 million in the first quarter of 2020 and an increase of 7.8% from RMB369.1 million in the fourth quarter of 2020. The increase in research and development expenses over the first and fourth quarter of 2020 was primarily attributable to (i) increased share-based compensation expenses derived from incremental share options granted with higher fair value in January 2021 while no share-based compensation expenses were recognized for stock options with service conditions and a performance condition related to our IPO in the first quarter of 2020, (ii) increased research and development activities for the Company’s next vehicle models, and (iii) increased headcount.</li><li><b>Selling, general and administrative expenses</b>were RMB509.9 million (US$77.8 million) in the first quarter of 2021, representing an increase of 352.0% from RMB112.8 million in the first quarter of 2020 and an increase of 18.8% from RMB429.3 million in the fourth quarter of 2020.<b>Non-GAAP selling, general and administrative expenses</b>3were RMB449.8 million (US$68.7 million) in the first quarter of 2021, representing an increase of 298.8% from RMB112.8 million in the first quarter of 2020 and an increase of 5.4% from RMB426.8 million in the fourth quarter of 2020. The increase in selling, general and administrative expenses over the first and fourth quarter of 2020 was primarily driven by (i) increased marketing and promotional activities, (ii) increased headcount and rental expenses with the expansion of the Company’s sales network, and (iii) increased share-based compensation expenses.</li></ul><b>Loss from Operations</b></p><p><blockquote><ul><li><b>营业费用</b>2021年第一季度为人民币10.2亿元（1.564亿美元），较2020年第一季度的人民币3.025亿元增长238.6%，较2020年第四季度的人民币8.035亿元增长27.5%。</li><li><b>研发费用</b>2021年第一季度为人民币5.145亿元（7850万美元），较2020年第一季度的人民币1.897亿元增长171.2%，较2020年第四季度的人民币3.742亿元增长37.5%。<b>非公认会计准则研发费用</b>32021年第一季度为人民币3.979亿元（6070万美元），较2020年第一季度的人民币1.897亿元增长109.8%，较2020年第四季度的人民币3.691亿元增长7.8%。2020年第一季度和第四季度研发费用的增加主要归因于（i）2021年1月授予的公允价值较高的增量购股权产生的以股份为基础的薪酬费用增加，而没有确认以股份为基础的薪酬费用对于2020年第一季度具有服务条件和与我们的IPO相关的绩效条件的股票期权，（ii）公司下一代车型的研发活动增加，以及（iii）员工人数增加。</li><li><b>销售、一般及行政开支</b>2021年第一季度为人民币5.099亿元（7780万美元），较2020年第一季度的人民币1.128亿元增长352.0%，较2020年第四季度的人民币4.293亿元增长18.8%。<b>非公认会计准则销售、一般和管理费用</b>2021年第一季度为人民币4.498亿元（6870万美元），较2020年第一季度的人民币1.128亿元增长298.8%，较2020年第四季度的人民币4.268亿元增长5.4%。2020年第一季度和第四季度销售、一般和管理费用的增加主要是由于(i)营销和促销活动的增加，(ii)随着公司销售网络的扩张，员工人数和租金费用增加，以及(iii)以股份为基础的薪酬费用增加。</li></ul><b>经营亏损</b></blockquote></p><p><ul><li><b>Loss from operations</b>was RMB407.7 million (US$62.2 million) in the first quarter of 2021, representing an increase of 74.1% from RMB234.2 million in the first quarter of 2020 and an increase of 416.7% from RMB78.9 million in the fourth quarter of 2020.<b>Non-GAAP loss from operations</b>was RMB224.8 million (US$34.3 million) in the first quarter of 2021, representing a decrease of 4.0% from RMB234.2 million in the first quarter of 2020 and an increase of 216.2% from RMB71.1 million in the fourth quarter of 2020.</li></ul><b>Net Loss and Earnings Per Share</b></p><p><blockquote><ul><li><b>经营亏损</b>2021年第一季度为人民币4.077亿元（6220万美元），较2020年第一季度的人民币2.342亿元增长74.1%，较2020年第四季度的人民币7890万元增长416.7%。<b>非公认会计准则运营损失</b>2021年第一季度为人民币2.248亿元（3430万美元），较2020年第一季度的人民币2.342亿元下降4.0%，较2020年第四季度的人民币7110万元增长216.2%。</li></ul><b>每股净亏损及盈利</b></blockquote></p><p><ul><li><b>Net loss</b>was RMB360.0 million (US$54.9 million) in the first quarter of 2021, compared with RMB77.1 million net loss in the first quarter of 2020 and RMB107.5 million net income in the fourth quarter of 2020.<b>Non-GAAP net loss</b>was RMB177.0 million (US$27.0 million) in the first quarter of 2021, compared with RMB253.4 million net loss in the first quarter of 2020 and RMB115.4 million net income in the fourth quarter of 2020.</li><li><b>Basic and diluted net loss per ADS6attributable to ordinary shareholders</b>were both RMB0.40 (US$0.06) in the first quarter of 2021.<b>Non-GAAP basic and diluted net loss per ADS attributable to ordinary shareholders</b>3were both RMB0.20 (US$0.03) in the first quarter of 2021.</li></ul><b>Cash position, Operating Cash Flow and Free Cash Flow</b></p><p><blockquote><ul><li><b>净亏损</b>2021年第一季度净利润为人民币3.6亿元（5490万美元），而2020年第一季度净亏损为人民币7710万元，2020年第四季度净利润为人民币1.075亿元。<b>非公认会计准则净亏损</b>2021年第一季度净利润为人民币1.77亿元（2700万美元），而2020年第一季度净亏损为人民币2.534亿元，2020年第四季度净利润为人民币1.154亿元。</li><li><b>普通股股东应佔每股美国存讬股份基本及摊薄亏损净额6</b>2021年第一季度均为人民币0.40元（0.06美元）。<b>非公认会计准则归属于普通股股东的每股美国存托凭证基本和摊薄净亏损</b>2021年第一季度均为人民币0.20元（0.03美元）。</li></ul><b>现金状况、经营现金流和自由现金流</b></blockquote></p><p><ul><li><b>Balance of cash and cash equivalents, restricted cash, time deposits and short-term investments</b>was RMB30.36 billion (US$4.63 billion) as of March 31, 2021.</li><li><b>Operating cash flow</b>was RMB926.3 million (US$141.4 million) in the first quarter of 2021, representing an increase of RMB989.3 million from negative net cash flow of RMB63.0 million in the first quarter of 2020 and a decrease of 49.1% from RMB1.82 billion in the fourth quarter of 2020.</li><li><b>Free cash flow</b>was RMB570.2 million (US$87.0 million) in the first quarter of 2021, representing an increase of RMB755.4 million from negative net cash flow of RMB185.2 million in the first quarter of 2020 and a decrease of 64.3% from RMB1.60 billion in the fourth quarter of 2020.</li></ul><b><u>Business Outlook</u></b></p><p><blockquote><ul><li><b>现金及现金等价物、受限制现金、定期存款和短期投资余额</b>截至2021年3月31日为人民币303.6亿元（46.3亿美元）。</li><li><b>经营现金流量</b>2021年第一季度为人民币9.263亿元（1.414亿美元），较2020年第一季度负净现金流人民币6300万元增加人民币9.893亿元，较2020年第一季度的人民币18.2亿元减少49.1%2020年第四季度。</li><li><b>自由现金流</b>2021年第一季度为人民币5.702亿元（8700万美元），较2020年第一季度的负净现金流人民币1.852亿元增加人民币7.554亿元，较2020年第一季度的人民币16.0亿元减少64.3%。2020年第四季度。</li></ul><b><u>业务展望</u></b></blockquote></p><p>For the second quarter of 2021, the Company expects:</p><p><blockquote>对于2021年第二季度，公司预计：</blockquote></p><p></p><p><ul><li><b>Deliveries of vehicles</b>to be between 14,500 and 15,500 vehicles, representing an increase of 119.6% to 134.7% from the second quarter of 2020.</li><li><b>Total revenues</b>to be between RMB3.99 billion (US$609.0 million) and RMB4.27 billion (US$651.7 million), representing an increase of 104.6% to 119.0% from the second quarter of 2020.</li></ul>This business outlook reflects the Company’s current and preliminary view on the business situation and market condition, which is subject to change.</p><p><blockquote><ul><li><b>车辆交付</b>在14,500辆至15,500辆之间，较2020年第二季度增长119.6%至134.7%。</li><li><b>总收入</b>将在人民币39.9亿元（6.090亿美元）至人民币42.7亿元（6.517亿美元）之间，较2020年第二季度增长104.6%至119.0%。</li></ul>本业务展望反映了公司对业务状况和市场状况的当前和初步看法，可能会发生变化。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LI":"理想汽车"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1150713912","content_text":"(May 26) Li Auto Inc. (Nasdaq: LI), an innovator in China’s new energy vehicle market, today announced its unaudited financial results for the first quarter ended March 31, 2021.Li Q1 Non-GAAP EPS of -$0.03 beats by $0.01; GAAP EPS of -$0.06 misses by $0.05.Revenue of $545.7M (+319.8% Y/Y) beats by $42.26M.Quarterly total revenues reached RMB3.58 billion (US$545.7 million)1Quarterly deliveries were 12,579 vehiclesQuarterly gross margin reached 17.3%.Q2 Outlook: Total revenues to be between RMB3.99B ($609M) and RMB4.27B ($651.7M), consensus $663.51, representing an increase of 104.6% to 119.0% from Q2 2020.Deliveries of vehicles to be between 14,500 and 15,500 vehicles, representing an increase of 119.6% to 134.7% from Q2 2020.Operating Highlights for the First Quarter of 2021Deliveries of Li ONEs were 12,579 vehicles in the first quarter of 2021, representing a 334.4% year-over-year increase.As of March 31, 2021, the Company had 65 retail stores covering 49 cities and 135 servicing centers and Li Auto-authorized body and paint shops operating in 98 cities.Financial Highlights for the First Quarter of 2021Vehicle sales were RMB3.46 billion (US$528.7 million) in the first quarter of 2021, representing an increase of 311.8% from RMB841.1 million in the first quarter of 2020 and a decrease of 14.6% from RMB4.06 billion in the fourth quarter of 2020.Vehicle margin2was 16.9% in the first quarter of 2021, compared with 8.4% in the first quarter of 2020 and 17.1% in the fourth quarter of 2020.Total revenues were RMB3.58 billion (US$545.7 million) in the first quarter of 2021, representing an increase of 319.8% from RMB851.7 million in the first quarter of 2020 and a decrease of 13.8% from RMB4.15 billion in the fourth quarter of 2020.Gross profit was RMB616.7 million (US$94.1 million) in the first quarter of 2021, representing an increase of 802.9% from RMB68.3 million in the first quarter of 2020 and a decrease of 14.9% from RMB724.6 million in the fourth quarter of 2020.Gross margin was 17.3% in the first quarter of 2021, compared with 8.0% in the first quarter of 2020 and 17.5% in the fourth quarter of 2020.Loss from operations was RMB407.7 million (US$62.2 million) in the first quarter of 2021, representing an increase of 74.1% from RMB234.2 million in the first quarter of 2020 and an increase of 416.7% from RMB78.9 million in the fourth quarter of 2020. Non-GAAP loss from operations3was RMB224.8 million (US$34.3 million) in the first quarter of 2021, representing a decrease of 4.0% from RMB234.2 million in the first quarter of 2020 and an increase of 216.2% from RMB71.1 million in the fourth quarter of 2020.Net loss was RMB360.0 million (US$54.9 million) in the first quarter of 2021, compared with RMB77.1 million net loss in the first quarter of 2020 and RMB107.5 million net income in the fourth quarter of 2020. Non-GAAP net loss3was RMB177.0 million (US$27.0 million) in the first quarter of 2021, compared with RMB253.4 million net loss in the first quarter of 2020 and RMB115.4 million net income in the fourth quarter of 2020.Operating cash flow was RMB926.3 million (US$141.4 million) in the first quarter of 2021, representing an increase of RMB989.3 million from negative net cash flow of RMB63.0 million in the first quarter of 2020 and a decrease of 49.1% from RMB1.82 billion in the fourth quarter of 2020.Free cash flow4was RMB570.2 million (US$87.0 million) in the first quarter of 2021, representing an increase of RMB755.4 million from negative net cash flow of RMB185.2 million in the first quarter of 2020 and a decrease of 64.3% from RMB1.60 billion in the fourth quarter of 2020.Deliveries UpdateIn April 2021, the Company delivered 5,539 Li ONEs, representing a 111.3% increase compared to April 2020. As of April 30, 2021, the Company had 73 retail stores covering 53 cities, in addition to 143 servicing centers and Li Auto-authorized body and paint shops operating in 105 cities.Issuance of Convertible Senior NotesIn April 2021, the Company completed the offering of US$862.5 million in aggregate principal amount of its 0.25% convertible senior notes due 2028 (the “Notes”), which included the exercise in full by the initial purchasers in the Notes offering of their option to purchase up to an additional US$112.5 million in aggregate principal amount of the Notes.The Company plans to use the net proceeds from the Notes offering for (i) research and development of new vehicle models, including BEV models, (ii) research and development of leading technologies, and (iii) working capital and other general corporate purposes.2021 Li ONEOn May 25, 2021, the Company officially released the 2021 Li ONE, the first vehicle with Navigation on ADAS (NOA) as a standard configuration in the world. It features comprehensive upgrades, including an enhanced NEDC range of 1,080 kilometers, optimized mobility comfort, and more intelligent cockpit, bringing premium features to users at a flat retail price of RMB338,000. Deliveries of the 2021 Li ONE will commence on June 1, 2021.With software and hardware optimization and its integrated powertrain system, the 2021 Li ONE can achieve an NEDC range of 1,080 kilometers and a WLTC range of 890 kilometers. Its energy efficiency in fuel mode is 6.05 liter per 100 kilometers based on the NEDC standard operational condition, best in class among large-sized four-wheel drive SUVs.CEO and CFO CommentsMr.Xiang Li, founder, chairman, and chief executive officer of Li Auto, commented, “We delivered 12,579 Li ONEs during the quarter, up 334.4% year over year. Li ONE was the second best-selling new energy SUV inChinain the first quarter as our compelling product offering and superior user experience continued to delight users and boost brand awareness, while the unwavering support of our direct sales and servicing network underpinned our growth.“On May 25, we released our 2021 Li ONE. The model has elevated the extended range electric technology to a brand-new level, achieving an NEDC range of 1,080 kilometers and a WLTC range of 890 kilometers. Its energy efficiency in the fuel mode takes consumption as low as 6.05 liter per 100 kilometers based on the NEDC standard operational condition, a level that is unparalleled among large-sized four-wheel drive SUVs. I am very proud of our R&D team’s successful efforts to improve the range-extended technology.“The 2021 Li ONE is the first model in the world offering Navigation on ADAS in a standard configuration. Combining our self-developed ADAS with dedicated dual Horizon Robotics Journey 3 processors, an 8-megapixel front-view camera, 5 latest millimeter-wave radars, and high-definition maps, the 2021 Li ONE delivers a safer, easier, and more convenient driving experience, echoing our belief that active safety should be standard, not optional features.“Li ONE has been well loved by family users for its spacious six-seat interior layout. And the 2021 Li ONE enhances its excellence in space, comfort, and intelligence by equipping the front and second row seats with lumbar massage functions, increasing the leg room in the third row by 41 millimeters, while also featuring a smarter in-car voice assistant ‘LiXiang Tong Xue(理想同学),’ providing a high caliber and overall more comfortable, roomier, and more intelligent space for more families.“Is it possible to build a smart electric vehicle that makes families happier? With the 2021 Li ONE, we can confidently say yes, a resounding yes!” concludedMr. Li.Mr.Tie Li, chief financial officer of Li Auto, added, “We are pleased with our healthy financial performance during the first quarter. Our total revenues reached RMB3.58 billion, more than quadrupling from the first quarter of 2020 and exceeding the top end of our revenue guidance by 11.2%, while our gross margin stayed robust at 17.3%. Amid our ongoing efforts to enhance investment in R&D as well as our direct sales and servicing network, operating expenses increased 27.5% quarter-over-quarter and 238.6% year-over-year. We also raised over US$840 million in net proceeds through our successful convertible senior notes offering, strengthening our capital base for future growth as we increase our R&D investments in leading technologies, prepare for new model launches, and gear up for further increases in demand.”Financial Results for the First Quarter of 2021RevenuesTotal revenueswere RMB3.58 billion (US$545.7 million) in the first quarter of 2021, representing an increase of 319.8% from RMB851.7 million in the first quarter of 2020 and a decrease of 13.8% from RMB4.15 billion in the fourth quarter of 2020.Vehicle saleswere RMB3.46 billion (US$528.7 million) in the first quarter of 2021, representing an increase of 311.8% from RMB841.1 million in the first quarter of 2020 and a decrease of 14.6% from RMB4.06 billion in the fourth quarter of 2020. The increase in revenue from vehicle sales over the first quarter of 2020 was mainly attributable to the increase in vehicle deliveries with the continuous expansion of our sales network. The decrease in revenue from vehicle sales from the fourth quarter of 2020 was mainly attributable to the decrease in vehicle deliveries, which were affected by seasonal factors related to the Chinese New Year holiday as well as the localized COVID-19 outbreaks in the northern China in February 2021.Other sales and serviceswere RMB111.5 million (US$17.0 million) in the first quarter of 2021, representing an increase of 951.9% from RMB10.6 million in the first quarter of 2020 and an increase of 25.0% from RMB89.2 million in the fourth quarter of 2020. The increase in revenue from other sales and services over the first and fourth quarter of 2020 was mainly attributable to increased sales of charging stalls, accessories and services in line with higher accumulated vehicle sales.Cost of Sales and Gross MarginCost of saleswas RMB2.96 billion (US$451.6 million) in the first quarter of 2021, representing an increase of 277.6% from RMB783.4 million in the first quarter of 2020 and a decrease of 13.5% from RMB3.42 billion in the fourth quarter of 2020.Gross profitwas RMB616.7 million (US$94.1 million) in the first quarter of 2021, representing an increase of 802.9% from RMB 68.3 million in the first quarter of 2020 and a decrease of 14.9% from RMB724.6 million in the fourth quarter of 2020.Vehicle marginwas 16.9% in the first quarter of 2021, compared with 8.4% in the first quarter of 2020 and 17.1% in the fourth quarter of 2020. The increase in vehicle margin over the first quarter of 2020 was primarily attributable to lower material cost and lower unit manufacturing overhead cost derived from the increased production volume. The slight decrease in vehicle margin from the fourth quarter of 2020 was primarily due to lower average selling price caused by promotional activities launched in the first quarter of 2021, partially offset by the decreased material cost.Gross marginwas 17.3% in the first quarter of 2021, compared with 8.0% in the first quarter of 2020 and 17.5% in the fourth quarter of 2020, which was mainly driven by the change of vehicle margin.Operating ExpensesOperating expenseswere RMB1.02 billion (US$156.4 million) in the first quarter of 2021, representing an increase of 238.6% from RMB302.5 million in the first quarter of 2020 and an increase of 27.5% from RMB803.5 million in the fourth quarter of 2020.Research and development expenseswere RMB514.5 million (US$78.5 million) in the first quarter of 2021, representing an increase of 171.2% from RMB189.7 million in the first quarter of 2020 and an increase of 37.5% from RMB374.2 million in the fourth quarter of 2020.Non-GAAP research and development expenses3were RMB397.9 million (US$60.7 million) in the first quarter of 2021, representing an increase of 109.8% from RMB189.7 million in the first quarter of 2020 and an increase of 7.8% from RMB369.1 million in the fourth quarter of 2020. The increase in research and development expenses over the first and fourth quarter of 2020 was primarily attributable to (i) increased share-based compensation expenses derived from incremental share options granted with higher fair value in January 2021 while no share-based compensation expenses were recognized for stock options with service conditions and a performance condition related to our IPO in the first quarter of 2020, (ii) increased research and development activities for the Company’s next vehicle models, and (iii) increased headcount.Selling, general and administrative expenseswere RMB509.9 million (US$77.8 million) in the first quarter of 2021, representing an increase of 352.0% from RMB112.8 million in the first quarter of 2020 and an increase of 18.8% from RMB429.3 million in the fourth quarter of 2020.Non-GAAP selling, general and administrative expenses3were RMB449.8 million (US$68.7 million) in the first quarter of 2021, representing an increase of 298.8% from RMB112.8 million in the first quarter of 2020 and an increase of 5.4% from RMB426.8 million in the fourth quarter of 2020. The increase in selling, general and administrative expenses over the first and fourth quarter of 2020 was primarily driven by (i) increased marketing and promotional activities, (ii) increased headcount and rental expenses with the expansion of the Company’s sales network, and (iii) increased share-based compensation expenses.Loss from OperationsLoss from operationswas RMB407.7 million (US$62.2 million) in the first quarter of 2021, representing an increase of 74.1% from RMB234.2 million in the first quarter of 2020 and an increase of 416.7% from RMB78.9 million in the fourth quarter of 2020.Non-GAAP loss from operationswas RMB224.8 million (US$34.3 million) in the first quarter of 2021, representing a decrease of 4.0% from RMB234.2 million in the first quarter of 2020 and an increase of 216.2% from RMB71.1 million in the fourth quarter of 2020.Net Loss and Earnings Per ShareNet losswas RMB360.0 million (US$54.9 million) in the first quarter of 2021, compared with RMB77.1 million net loss in the first quarter of 2020 and RMB107.5 million net income in the fourth quarter of 2020.Non-GAAP net losswas RMB177.0 million (US$27.0 million) in the first quarter of 2021, compared with RMB253.4 million net loss in the first quarter of 2020 and RMB115.4 million net income in the fourth quarter of 2020.Basic and diluted net loss per ADS6attributable to ordinary shareholderswere both RMB0.40 (US$0.06) in the first quarter of 2021.Non-GAAP basic and diluted net loss per ADS attributable to ordinary shareholders3were both RMB0.20 (US$0.03) in the first quarter of 2021.Cash position, Operating Cash Flow and Free Cash FlowBalance of cash and cash equivalents, restricted cash, time deposits and short-term investmentswas RMB30.36 billion (US$4.63 billion) as of March 31, 2021.Operating cash flowwas RMB926.3 million (US$141.4 million) in the first quarter of 2021, representing an increase of RMB989.3 million from negative net cash flow of RMB63.0 million in the first quarter of 2020 and a decrease of 49.1% from RMB1.82 billion in the fourth quarter of 2020.Free cash flowwas RMB570.2 million (US$87.0 million) in the first quarter of 2021, representing an increase of RMB755.4 million from negative net cash flow of RMB185.2 million in the first quarter of 2020 and a decrease of 64.3% from RMB1.60 billion in the fourth quarter of 2020.Business OutlookFor the second quarter of 2021, the Company expects:Deliveries of vehiclesto be between 14,500 and 15,500 vehicles, representing an increase of 119.6% to 134.7% from the second quarter of 2020.Total revenuesto be between RMB3.99 billion (US$609.0 million) and RMB4.27 billion (US$651.7 million), representing an increase of 104.6% to 119.0% from the second quarter of 2020.This business outlook reflects the Company’s current and preliminary view on the business situation and market condition, which is subject to change.","news_type":1,"symbols_score_info":{"LI":0.9}},"isVote":1,"tweetType":1,"viewCount":2518,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":139038290,"gmtCreate":1621572558810,"gmtModify":1634187963111,"author":{"id":"3580286525740676","authorId":"3580286525740676","name":"striker78","avatar":"https://static.tigerbbs.com/030b0c3edc88f745f9640edc9551e488","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3580286525740676","authorIdStr":"3580286525740676"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/139038290","repostId":"1161150268","repostType":4,"isVote":1,"tweetType":1,"viewCount":2109,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":104468507,"gmtCreate":1620404005009,"gmtModify":1634205454661,"author":{"id":"3580286525740676","authorId":"3580286525740676","name":"striker78","avatar":"https://static.tigerbbs.com/030b0c3edc88f745f9640edc9551e488","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3580286525740676","authorIdStr":"3580286525740676"},"themes":[],"htmlText":"👌👍","listText":"👌👍","text":"👌👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/104468507","repostId":"1193680267","repostType":4,"isVote":1,"tweetType":1,"viewCount":732,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":false}