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- striker78striker78
  ·2021-10-08
  [Happy] [Happy] [Happy]
  Sundial Growers gained nearly 17% in premarket trading
  (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
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- striker78striker78
  ·2021-08-18
  Great writeup 👍
  The Tertiary Distribution – What Can Chinese Tech Companies Learn from Apple?
  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?
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- striker78striker78
  ·2021-06-26
  Like n comments
  非常抱歉，此主贴已删除
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- striker78striker78
  ·2021-05-26
  👍
  Li Auto EPS beats by $0.01, beats on revenue
  (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
  1,813 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
  👌👍
  Roku pops 16% after reporting highest revenue growth rate since IPO
  Roku shares popped more than 16% Friday after reporting earnings that showed advertisers are increas
  Roku pops 16% after reporting highest revenue growth rate since IPO
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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=&edition=full","pubTime":"2021-10-08 16:03","market":"us","language":"en","title":"Sundial Growers gained nearly 17% in premarket trading","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>\n<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>\n<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>\n<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>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\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\">2021-10-08 16:03</p>\n</div>\n\n</a>\n\n\n</h4>\n\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>\n<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>\n<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>\n<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>\n\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":2362,"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":12,"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=&edition=full","pubTime":"2021-08-18 22:33","market":"us","language":"en","title":"The Tertiary Distribution – What Can Chinese Tech Companies Learn from Apple?","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>\n<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>\n<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>\n<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>\n<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>\n<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>\n<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>\n<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>\n<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>\n<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>\n<p>The advantages are listed as follows:</p>\n<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>\n<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>\n<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>\n<p>To my point of view, Chinese Internet companies should learn from Apple’s experience and earnestly welcome “The Tertiary Distribution.”</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?</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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?\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\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\">2021-08-18 22:33</p>\n</div>\n\n</a>\n\n\n</h4>\n\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>\n<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>\n<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>\n<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>\n<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>\n<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>\n<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>\n<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>\n<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>\n<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>\n<p>The advantages are listed as follows:</p>\n<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>\n<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>\n<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>\n<p>To my point of view, Chinese Internet companies should learn from Apple’s experience and earnestly welcome “The Tertiary Distribution.”</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"01810":"小米集团-W","BABA":"阿里巴巴","00700":"腾讯控股","AAPL":"苹果","BIDU":"百度","PDD":"拼多多"},"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":{"00700":0.9,"01810":0.9,"AAPL":0.9,"BABA":0.9,"BIDU":0.9,"PDD":0.9}},"isVote":1,"tweetType":1,"viewCount":1315,"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":12,"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":1276,"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":12,"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=&edition=full","pubTime":"2021-05-26 16:06","market":"us","language":"en","title":"Li Auto EPS beats by $0.01, beats on revenue","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><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><p><img src=\"https://static.tigerbbs.com/ff735550080b330b011ba4dbd0dedb68\" tg-width=\"662\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p><p><b>Operating Highlights for the First Quarter of 2021</b></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><p><img src=\"https://static.tigerbbs.com/637a5f62341f333ae7dc2317c883b83a\" tg-width=\"609\" tg-height=\"193\" referrerpolicy=\"no-referrer\"></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><p><b>Financial Highlights for the First Quarter of 2021</b></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><p><img src=\"https://static.tigerbbs.com/de30e1ac5d69693451c6d4e9f4b33061\" tg-width=\"997\" tg-height=\"536\" referrerpolicy=\"no-referrer\"></p><p><b>Deliveries Update</b></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><p><b>Issuance of Convertible Senior Notes</b></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><p><b>2021 Li ONE</b></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><p><b>CEO and CFO Comments</b></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>“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>“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>“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>“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>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><b><u>Financial Results for the First Quarter of 2021</u></b></p><p><b>Revenues</b></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><p><b>Cost of Sales and Gross Margin</b></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><p><b>Operating Expenses</b></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><p><b>Loss from Operations</b></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><p><b>Net Loss and Earnings Per Share</b></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><p><b>Cash position, Operating Cash Flow and Free Cash Flow</b></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><p><b><u>Business Outlook</u></b></p><p>For the second quarter of 2021, the Company expects:</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><p>This business outlook reflects the Company’s current and preliminary view on the business situation and market condition, which is subject to change.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\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\">2021-05-26 16:06</p>\n</div>\n\n</a>\n\n\n</h4>\n\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><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><p><img src=\"https://static.tigerbbs.com/ff735550080b330b011ba4dbd0dedb68\" tg-width=\"662\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p><p><b>Operating Highlights for the First Quarter of 2021</b></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><p><img src=\"https://static.tigerbbs.com/637a5f62341f333ae7dc2317c883b83a\" tg-width=\"609\" tg-height=\"193\" referrerpolicy=\"no-referrer\"></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><p><b>Financial Highlights for the First Quarter of 2021</b></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><p><img src=\"https://static.tigerbbs.com/de30e1ac5d69693451c6d4e9f4b33061\" tg-width=\"997\" tg-height=\"536\" referrerpolicy=\"no-referrer\"></p><p><b>Deliveries Update</b></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><p><b>Issuance of Convertible Senior Notes</b></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><p><b>2021 Li ONE</b></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><p><b>CEO and CFO Comments</b></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>“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>“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>“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>“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>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><b><u>Financial Results for the First Quarter of 2021</u></b></p><p><b>Revenues</b></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><p><b>Cost of Sales and Gross Margin</b></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><p><b>Operating Expenses</b></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><p><b>Loss from Operations</b></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><p><b>Net Loss and Earnings Per Share</b></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><p><b>Cash position, Operating Cash Flow and Free Cash Flow</b></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><p><b><u>Business Outlook</u></b></p><p>For the second quarter of 2021, the Company expects:</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><p>This business outlook reflects the Company’s current and preliminary view on the business situation and market condition, which is subject to change.</p>\n\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":1813,"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":12,"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":1498,"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":12,"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,"repost":{"id":"1193680267","kind":"news","pubTimestamp":1620396036,"share":"https://www.laohu8.com/m/news/1193680267?lang=&edition=full","pubTime":"2021-05-07 22:00","market":"us","language":"en","title":"Roku pops 16% after reporting highest revenue growth rate since IPO","url":"https://stock-news.laohu8.com/highlight/detail?id=1193680267","media":"CNBC","summary":"Roku shares popped more than 16% Friday after reporting earnings that showed advertisers are increas","content":"<div>\n<p>Roku shares popped more than 16% Friday after reporting earnings that showed advertisers are increasingly moving money into streaming TV.\nThe company reported its highest quarterly revenue growth rate...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/07/roku-pops-11percent-after-reporting-highest-revenue-growth-rate-since-ipo.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","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>Roku pops 16% after reporting highest revenue growth rate since IPO</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nRoku pops 16% after reporting highest revenue growth rate since IPO\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-07 22:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/05/07/roku-pops-11percent-after-reporting-highest-revenue-growth-rate-since-ipo.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Roku shares popped more than 16% Friday after reporting earnings that showed advertisers are increasingly moving money into streaming TV.\nThe company reported its highest quarterly revenue growth rate...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/07/roku-pops-11percent-after-reporting-highest-revenue-growth-rate-since-ipo.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊","SNAP":"Snap Inc","PINS":"Pinterest, Inc.","ROKU":"Roku Inc"},"source_url":"https://www.cnbc.com/2021/05/07/roku-pops-11percent-after-reporting-highest-revenue-growth-rate-since-ipo.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1193680267","content_text":"Roku shares popped more than 16% Friday after reporting earnings that showed advertisers are increasingly moving money into streaming TV.\nThe company reported its highest quarterly revenue growth rate since going public with a 79% gain to $574 million in the quarter. Platform revenue in particular, which includes advertising, was $466.5 million, up 101% year-over-year. Meanwhile, active accounts grew 2.4 million from the fourth quarter of 2020 to reach 53.6 million.\nRoku has been making a number ofstrategic movesin the advertising space, including the acquisition of Nielsen's advanced video advertising business. That included technology to do \"Dynamic Ad Insertion,\" allowing Roku to offer ads that can be swapped out in real-time depending on the viewer. It alsoacquired\"This Old House\" andcontentfrom defunct streaming provider Quibi to make itself more attractive for advertisers.\n\"We've said historically that the biggest impediment or governor of our ad business growth has been TV buyers' buying patterns, that they traditionally tend to prefer traditional linear TV versus new things like streaming,\" founder and CEO Anthony Wood said on the earnings call.\n\"And there's a gap there as viewers move over to streaming versus the ad dollars,\" he said. \"What we saw, I think, in the pandemic, was that that gap started to close. But there's still a big gap and a lot of room to go. But advertising momentum in general is very strong.\"\nThe company's SVP and GM of its platform business, Scott Rosenberg, also mentioned Roku's increasing appeal to different types of advertisers. That means those who might be more interested in wider branding initiatives, along with those that are more focused on driving specific and direct sales objectives.\n\"It's really a unique attribute of streaming that can both compete at a top of funnel — as a top of funnel branding medium, as well as a mid- and bottom funnel performance medium,\" he said. \"I think that the reallocation of TV budgets, as well as digital and social budgets, toward streaming is here to stay.\"\nLoop Capital analysts, who upgraded Roku stock to \"buy\" this week, noted that Roku's 101% platform growth outpaces some of its ad-supported tech peers in the first quarter.Pinterest grew 78%,Amazon grew 77% and Snap grew 66% in the quarter.\nBut competition does loom, MoffettNathanson analysts noted Friday.\n\"If this were a less competitive market, we would be all in on Roku's opportunity,\" they wrote. \"The problem is that longer term, we remain unconvinced that Roku has built a large enough moat to keep competitors out of their business – and that is certainly more true outside the U.S.\"\nThey wrote that while solely focused on streaming, Roku faces competition from OEM players like Vizio and Samsung, tech players like Amazon,AppleandAlphabetand broadband players likeComcastandT-Mobile.\n\"So, when everybody is digging for gold, it's good to be in the shovel business until everyone else gets into the business, too,\" they wrote.","news_type":1,"symbols_score_info":{"AMZN":0.9,"PINS":0.9,"ROKU":0.9,"SNAP":0.9}},"isVote":1,"tweetType":1,"viewCount":339,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"following","isTTM":false}