阿拉蕾是你的个人主页 - 老虎社区

阿拉蕾是你

暂无个人介绍

IP属地：北京

14关注

1粉丝

0主题

0勋章

阿拉蕾是你

2021-05-28

$京东物流(02618)$低吸的好时机，看涨

阿拉蕾是你

2021-05-28

京东物流有自动化加持，人员成本随时间推移会下降，目前其他物流公司均不具备此类能力，容易形成壁垒，看涨

@面币思过:$京东物流(02618)$京东物流重资产，以前养的人随着时间推移，成本不短增高，物流行业利润不断下降，看空

阿拉蕾是你

2020-05-19

$京东(JD)$1000亿？

阿拉蕾是你

2020-04-22

$拼多多(PDD)$继续买，过两天得大跌，小股民跟着凑热闹

阿拉蕾是你

2020-03-05

每年都有那么几个贴在友善的告诉你，要清醒，好想他自己没有任何收益的武无偿在帮你

穿越资本迷雾，亮眼财报背后京东仍有隐忧

阿拉蕾是你

2019-04-17

$京东(JD)$ 被做空的时候，总会发现很多新鲜面孔来告诉你要跌，你们的目的，这不是很明显么。

阿拉蕾是你

2019-01-29

$拼多多(PDD)$ 起码看到了，大家并不相信拼多多，论你是指再怎么涨，也依然得不到正名

阿拉蕾是你

2019-01-25

$拼多多(PDD)$ 腾讯军乏力了，做空

阿拉蕾是你

2019-01-25

$拼多多(PDD)$ 我不信没人敢弄死腾讯，阿里这波还不连横抄后路？

阿拉蕾是你

2018-11-16

$美团点评-W(03690)$ 今天外卖黑幕被曝，覆盖范围相当大，美团饿了吗应该要受波及了吧。

去老虎APP查看更多动态

{"i18n":{"language":"zh_CN"},"userPageInfo":{"id":3497509140372624,"uuid":"3497509140372624","gmtCreate":1534415119015,"gmtModify":1534415119015,"name":"阿拉蕾是你","pinyin":"ellsnelaleishini","introduction":"","introductionEn":null,"signature":"","avatar":"https://static.laohu8.com/default-avatar.jpg","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":1,"headSize":14,"tweetSize":10,"questionSize":0,"limitLevel":900,"accountStatus":3,"level":{"id":2,"name":"无畏虎","nameTw":"無畏虎","represent":"初生牛犊","factor":"发布3条非转发主帖,1条获得他人回复或点赞","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":null,"userBadges":[{"badgeId":"e50ce593bb40487ebfb542ca54f6a561-4","templateUuid":"e50ce593bb40487ebfb542ca54f6a561","name":"明星虎友","description":"加入老虎社区2000天","bigImgUrl":"https://static.tigerbbs.com/dddf24b906c7011de2617d4fb3f76987","smallImgUrl":"https://static.tigerbbs.com/53d58ad32c97254c6f74db8b97e6ec49","grayImgUrl":"https://static.tigerbbs.com/6304700d92ad91c7a33e2e92ec32ecc1","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.02.07","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001}],"userBadgeCount":1,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":1,"crmLevelSwitch":0,"location":"北京","starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"post","tweets":[{"id":134008403,"gmtCreate":1622189842702,"gmtModify":1622189842702,"author":{"id":"3497509140372624","authorId":"3497509140372624","name":"阿拉蕾是你","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/02618\">$京东物流(02618)$</a>低吸的好时机，看涨","listText":"<a href=\"https://laohu8.com/S/02618\">$京东物流(02618)$</a>低吸的好时机，看涨","text":"$京东物流(02618)$低吸的好时机，看涨","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/134008403","isVote":1,"tweetType":1,"viewCount":925,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":135253595,"gmtCreate":1622166277417,"gmtModify":1622166277417,"author":{"id":"3497509140372624","authorId":"3497509140372624","name":"阿拉蕾是你","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"京东物流有自动化加持，人员成本随时间推移会下降，目前其他物流公司均不具备此类能力，容易形成壁垒，看涨","listText":"京东物流有自动化加持，人员成本随时间推移会下降，目前其他物流公司均不具备此类能力，容易形成壁垒，看涨","text":"京东物流有自动化加持，人员成本随时间推移会下降，目前其他物流公司均不具备此类能力，容易形成壁垒，看涨","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/135253595","repostId":"135229942","repostType":1,"repost":{"id":135229942,"gmtCreate":1622165831386,"gmtModify":1622165831386,"author":{"id":"3494367660508553","authorId":"3494367660508553","name":"面币思过","avatar":"https://static.tigerbbs.com/eebeb629c32510fbc2623963ad5f592d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/02618\">$京东物流(02618)$</a>京东物流重资产，以前养的人随着时间推移，成本不短增高，物流行业利润不断下降，看空","listText":"<a href=\"https://laohu8.com/S/02618\">$京东物流(02618)$</a>京东物流重资产，以前养的人随着时间推移，成本不短增高，物流行业利润不断下降，看空","text":"$京东物流(02618)$京东物流重资产，以前养的人随着时间推移，成本不短增高，物流行业利润不断下降，看空","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/135229942","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":951,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":959174791,"gmtCreate":1589823900913,"gmtModify":1704190802490,"author":{"id":"3497509140372624","authorId":"3497509140372624","name":"阿拉蕾是你","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/JD\">$京东(JD)$</a>1000亿？","listText":"<a href=\"https://laohu8.com/S/JD\">$京东(JD)$</a>1000亿？","text":"$京东(JD)$1000亿？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/959174791","isVote":1,"tweetType":1,"viewCount":1041,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":922227521,"gmtCreate":1587566931563,"gmtModify":1704364815059,"author":{"id":"3497509140372624","authorId":"3497509140372624","name":"阿拉蕾是你","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/PDD\">$拼多多(PDD)$</a>继续买，过两天得大跌，小股民跟着凑热闹","listText":"<a href=\"https://laohu8.com/S/PDD\">$拼多多(PDD)$</a>继续买，过两天得大跌，小股民跟着凑热闹","text":"$拼多多(PDD)$继续买，过两天得大跌，小股民跟着凑热闹","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/922227521","isVote":1,"tweetType":1,"viewCount":1145,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":983461645,"gmtCreate":1583369789687,"gmtModify":1704349605546,"author":{"id":"3497509140372624","authorId":"3497509140372624","name":"阿拉蕾是你","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"每年都有那么几个贴在友善的告诉你，要清醒，好想他自己没有任何收益的武无偿在帮你","listText":"每年都有那么几个贴在友善的告诉你，要清醒，好想他自己没有任何收益的武无偿在帮你","text":"每年都有那么几个贴在友善的告诉你，要清醒，好想他自己没有任何收益的武无偿在帮你","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/983461645","repostId":"1192133245","repostType":2,"repost":{"id":"1192133245","pubTimestamp":1583364155,"share":"https://www.laohu8.com/m/news/1192133245?lang=&edition=full","pubTime":"2020-03-05 07:22","market":"us","language":"zh","title":"穿越资本迷雾，亮眼财报背后京东仍有隐忧","url":"https://stock-news.laohu8.com/highlight/detail?id=1192133245","media":"科技考拉","summary":"在美股大盘的一片狼藉中，国内的电商平台最近格外吸睛。\n3月2日美股收盘，拼多多$(PDD)$市值达436亿美元，再次反超百度$(BIDU)$，这个词条甚至一度冲上热搜。很快，京东$(JD)$发布201","content":"<p>在美股大盘的一片狼藉中，国内的电商平台最近格外吸睛。</p>\n<p>3月2日美股收盘，拼多多<a href=\"https://laohu8.com/S/PDD\">$(PDD)$</a>市值达436亿美元，再次反超百度<a href=\"https://laohu8.com/S/BIDU\">$(BIDU)$</a>，这个词条甚至一度冲上热搜。很快，京东<a href=\"https://laohu8.com/S/JD\">$(JD)$</a>发布2019年第四季度及全年财报，随后股价一度大涨12%。</p>\n<p><img src=\"https://static.tigerbbs.com/b2b48411f5fb6683167bfe50448b7a12\"></p>\n<p>资本总是逐利而敏锐。刚刚过去的2019年对京东来说，无异于潭底翻身的一年。从新发布的成绩单来看，京东这一仗堪称打得漂亮。</p>\n<p>但冷眼观潮，透过资本的迷雾，在这份颇为亮眼的财报数字背后，京东可能仍然存在一些值得去推敲和深思的地方。</p>\n<p><b>扭亏为盈的2019，京喜有效下沉</b></p>\n<p>总体上，这次财报，京东交出了一份颇为硬气的答卷。</p>\n<p>首先，华尔街最为关注的营收和净利润，双双超过分析师预期。</p>\n<p>财报显示，四季度京东净收入为1707亿元，同比增长26.6%；归属于普通股股东的净利润为36亿元，而2018年四季度归属于普通股股东的净亏损为48亿元。2019年全年，京东净收入为5769亿元，同比增长24.9%；归属于普通股股东的净利润为122亿元，而2018年归属于普通股股东的净亏损25亿元。</p>\n<p><img src=\"https://static.tigerbbs.com/cd7b0207336baca2d74ebd0b0a62b30d\"></p>\n<p>和2018年的情形相比，“扭亏为盈”是京东2019年的关键词。这意味着，京东此前长期被外界诟病的亏损问题正在成为过去式。对资本市场来说，这无异于一针强心剂。</p>\n<p>在体现公司运营能力和发展潜力的用户增速上，京东同样给出了不错的反馈。</p>\n<p>财报显示，2019年京东的年度活跃购买用户数增长至3.62亿，与三季度相比，环比增加2760万，创了12个季度以来的单季最大增幅；同时，2019年12月，京东移动端月活跃用户数同比增长41%。</p>\n<p>对于一个拥有3亿年度活跃用户数的平台来说，在庞大的体量基数上还能保持高速增长，实属不易。</p>\n<p>值得注意的是，京东第四季度的新增用户中，超过七成来自三至六线城市，即下沉市场。</p>\n<p>实际上，下沉市场已经成为阿里(09988)、京东和拼多多最大的正面战场。据Mob研究院的《2019电商“下沉市场”研究报告》，下沉市场的电商用户规模目前维持在3亿以上，且占比还在逐步提高。</p>\n<p><img src=\"https://static.tigerbbs.com/e444d2564e8932f83ccc435109687719\"></p>\n<p>从京东拼购更名而来的京喜，是京东撕开下沉市场的头号武器。</p>\n<p>去年10月，京喜接入微信一级入口。用户在微信的“发现-购物”一栏中可以直接访问京喜。入口位置优于京东购物和拼多多所在的微信二级入口。</p>\n<p>依托微信的巨大流量，京喜的用户规模增长非常迅猛。据京东方面披露，2019 年双11期间，京喜为京东全站贡献了超过四成的新用户，成为京东2019年最大的“惊喜”。</p>\n<p><b>盈利增长滞缓，百亿补贴“失声”</b></p>\n<p>毫无疑问，这一次京东给了市场一个巨大的surprise。但从某些角度和细节上，我们依然可以看到一些值得深思和推敲的地方。</p>\n<p>财报显示，在Non-Gaap下，2019年第四季度京东净利润为8.1亿元，与2018年同期的7.5亿元相比，增长几乎处于停滞状态。</p>\n<p>在美上市的国内公司通常有两种财报统计方式：GAAP和Non-GAAP，即美国公认会计准则和非公认会计准则。</p>\n<p>GAAP要求上市公司按照既定规则和审计结果披露业绩和财务状况，Non-GAAP则给出了一些余地，公司可自行进行调整。很多情况下，GAAP数据并不足以反映公司经营的实情或全貌，这时候公司就会同时用Non-GAAP数据作为补充。</p>\n<p>通常情形下，如果一家公司没有刻意进行财务粉饰，Non-GAAP的数据往往会更接近公司的实际运营情况。</p>\n<p>因此，扭亏为盈后，京东的实际盈利是否具备可持续性和高增长能力，可能仍然有待进一步观察。</p>\n<p>此外，从行业角度横向比较，会发现另一个有趣的问题：说好的“猫拼狗”三方“百亿补贴”大战，最后正面硬刚的，好像只有拼多多和聚划算。</p>\n<p><img src=\"https://static.tigerbbs.com/085b7c15c2f0609465e6e918ac4dca7f\"></p>\n<p>2019年6月，拼多多率先宣布“百亿补贴”，作为首个吃螃蟹的人，拼多多战果丰硕。“百亿补贴”计划推出后的第二个季度，拼多多APP的月活用户数就净增1.399亿，达到4.296亿。黄铮也在当时表态称“百亿补贴”入口的日活用户已经突破1亿。</p>\n<p>淘宝是三家中推出“百亿补贴”计划最晚的一家。去年双12，淘宝上线聚划算“百亿补贴”。随后，聚划算先后与bilibili“2019最美的夜”晚会和春晚达成合作，拿下两个高密度的流量入口。</p>\n<p>根据淘宝方面的数据，截至2020年1月19日，聚划算“百亿补贴”累计访问已超过2亿人次。聚划算因此被提升至战略位置，并上线淘宝一级入口。</p>\n<p>从京东拼购升级为独立单元京喜开始，京东就开始全力押注下沉市场，先后将微信一级入口、手机QQ购物入口等核心流量资源倾斜给京喜。</p>\n<p>一个疑问在于，京东自去年双11推出“超级百亿补贴”后，几乎没有公布过具体的相关数据。相比阿里和拼多多在“百亿补贴”的正面硬刚，京东在这个战场的存在感显得稍弱。</p>\n<p>最起码，京喜所取得的成绩中，“百亿补贴”贡献了多大比例，腾讯的扶持又起了多大作用，这些问题在外界眼中仍然是比较模糊的。</p>\n<p><b>账期和承压的现金流</b></p>\n<p>另外，前一阵被神舟电脑摆上桌面的，还有京东的账期。</p>\n<p>2月20日，神舟电脑董事长吴海军在微博上发布声明，宣布将起诉京东拖欠3亿多元货款。</p>\n<p><img src=\"https://static.tigerbbs.com/2a9f56381dadd4b51c1e21febc3b1d63\"></p>\n<p>随后，京东回应称，因为神舟违反双方签署的产品购销协议条款，导致其未结算货款被暂缓支付。</p>\n<p>双方各执一词，外界看得云里雾里。最新的进展是，神舟电脑宣布将开发自有电商“神舟商城”，大有与京东分道扬镳的意味。</p>\n<p>对京东而言，这件事最大的影响在于，外界开始好奇，京东是否也出现了现金流问题？毕竟，在疫情之下，这个话题已经成为商业探讨中的核心关键词之一。</p>\n<p>我们不妨从财报中找找答案。</p>\n<p>财报显示，去年第四季度，京东应付账款904亿元，达到年度第二高位；同时账期为54.5天，尽管相比过去3个季度稍有下降，但依然超过54天。要知道，在2014年第二季度时，这个数字还是40天。</p>\n<p><img src=\"https://static.tigerbbs.com/0e790f03d6358104e62a08f1dcde0499\"></p>\n<p>电商平台的所谓“账期”，是指用户在线上消费后先付款给电商平台的时间，与平台向商家付款时间之间的周期。账期越短，意味着平台的资金流转越快，运营效率就越高，反之则表明平台出现了一定的流动性困难。</p>\n<p>总体看来，京东的账期拉长已成趋势。</p>\n<p>接着看财报。截止2019年12月31日，京东账上的现金及现金等价物、受限资金及短期投资为645亿元。这个数字，显然低于四季度904亿元的应付账款总额。此时，就需要通过账期来缓解资金压力。</p>\n<p>所以，迈过扭亏为盈这道坎后，京东相当于完成了商业进化的重要一步。但同样在变化的还有市场环境。</p>\n<p>拼多多的成功突围，将电商的竞争重新拉回了价格战的阴影之下，京东出现现金流承压的现象，是一个合理结果。面对拼多多的攻势和阿里的竞争，京东未来仍然需要接受市场的进一步检验。</p>","source":"kaolajun-it","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>穿越资本迷雾，亮眼财报背后京东仍有隐忧</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\">\n穿越资本迷雾，亮眼财报背后京东仍有隐忧\n</h2>\n\n<h4 class=\"meta\">\n\n\n2020-03-05 07:22 北京时间&nbsp;&nbsp;&nbsp;<a href=https://www.zhitongcaijing.com/content/detail/279277.html><strong>科技考拉</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>在美股大盘的一片狼藉中，国内的电商平台最近格外吸睛。\n3月2日美股收盘，拼多多$(PDD)$市值达436亿美元，再次反超百度$(BIDU)$，这个词条甚至一度冲上热搜。很快，京东$(JD)$发布2019年第四季度及全年财报，随后股价一度大涨12%。\n\n资本总是逐利而敏锐。刚刚过去的2019年对京东来说，无异于潭底翻身的一年。从新发布的成绩单来看，京东这一仗堪称打得漂亮。\n但冷眼观潮，透过资本的迷雾...</p>\n\n<a href=\"https://www.zhitongcaijing.com/content/detail/279277.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ce4847035763b918ae4cd44ea31a1626","relate_stocks":{"JD":"京东"},"source_url":"https://www.zhitongcaijing.com/content/detail/279277.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1192133245","content_text":"在美股大盘的一片狼藉中，国内的电商平台最近格外吸睛。\n3月2日美股收盘，拼多多$(PDD)$市值达436亿美元，再次反超百度$(BIDU)$，这个词条甚至一度冲上热搜。很快，京东$(JD)$发布2019年第四季度及全年财报，随后股价一度大涨12%。\n\n资本总是逐利而敏锐。刚刚过去的2019年对京东来说，无异于潭底翻身的一年。从新发布的成绩单来看，京东这一仗堪称打得漂亮。\n但冷眼观潮，透过资本的迷雾，在这份颇为亮眼的财报数字背后，京东可能仍然存在一些值得去推敲和深思的地方。\n扭亏为盈的2019，京喜有效下沉\n总体上，这次财报，京东交出了一份颇为硬气的答卷。\n首先，华尔街最为关注的营收和净利润，双双超过分析师预期。\n财报显示，四季度京东净收入为1707亿元，同比增长26.6%；归属于普通股股东的净利润为36亿元，而2018年四季度归属于普通股股东的净亏损为48亿元。2019年全年，京东净收入为5769亿元，同比增长24.9%；归属于普通股股东的净利润为122亿元，而2018年归属于普通股股东的净亏损25亿元。\n\n和2018年的情形相比，“扭亏为盈”是京东2019年的关键词。这意味着，京东此前长期被外界诟病的亏损问题正在成为过去式。对资本市场来说，这无异于一针强心剂。\n在体现公司运营能力和发展潜力的用户增速上，京东同样给出了不错的反馈。\n财报显示，2019年京东的年度活跃购买用户数增长至3.62亿，与三季度相比，环比增加2760万，创了12个季度以来的单季最大增幅；同时，2019年12月，京东移动端月活跃用户数同比增长41%。\n对于一个拥有3亿年度活跃用户数的平台来说，在庞大的体量基数上还能保持高速增长，实属不易。\n值得注意的是，京东第四季度的新增用户中，超过七成来自三至六线城市，即下沉市场。\n实际上，下沉市场已经成为阿里(09988)、京东和拼多多最大的正面战场。据Mob研究院的《2019电商“下沉市场”研究报告》，下沉市场的电商用户规模目前维持在3亿以上，且占比还在逐步提高。\n\n从京东拼购更名而来的京喜，是京东撕开下沉市场的头号武器。\n去年10月，京喜接入微信一级入口。用户在微信的“发现-购物”一栏中可以直接访问京喜。入口位置优于京东购物和拼多多所在的微信二级入口。\n依托微信的巨大流量，京喜的用户规模增长非常迅猛。据京东方面披露，2019 年双11期间，京喜为京东全站贡献了超过四成的新用户，成为京东2019年最大的“惊喜”。\n盈利增长滞缓，百亿补贴“失声”\n毫无疑问，这一次京东给了市场一个巨大的surprise。但从某些角度和细节上，我们依然可以看到一些值得深思和推敲的地方。\n财报显示，在Non-Gaap下，2019年第四季度京东净利润为8.1亿元，与2018年同期的7.5亿元相比，增长几乎处于停滞状态。\n在美上市的国内公司通常有两种财报统计方式：GAAP和Non-GAAP，即美国公认会计准则和非公认会计准则。\nGAAP要求上市公司按照既定规则和审计结果披露业绩和财务状况，Non-GAAP则给出了一些余地，公司可自行进行调整。很多情况下，GAAP数据并不足以反映公司经营的实情或全貌，这时候公司就会同时用Non-GAAP数据作为补充。\n通常情形下，如果一家公司没有刻意进行财务粉饰，Non-GAAP的数据往往会更接近公司的实际运营情况。\n因此，扭亏为盈后，京东的实际盈利是否具备可持续性和高增长能力，可能仍然有待进一步观察。\n此外，从行业角度横向比较，会发现另一个有趣的问题：说好的“猫拼狗”三方“百亿补贴”大战，最后正面硬刚的，好像只有拼多多和聚划算。\n\n2019年6月，拼多多率先宣布“百亿补贴”，作为首个吃螃蟹的人，拼多多战果丰硕。“百亿补贴”计划推出后的第二个季度，拼多多APP的月活用户数就净增1.399亿，达到4.296亿。黄铮也在当时表态称“百亿补贴”入口的日活用户已经突破1亿。\n淘宝是三家中推出“百亿补贴”计划最晚的一家。去年双12，淘宝上线聚划算“百亿补贴”。随后，聚划算先后与bilibili“2019最美的夜”晚会和春晚达成合作，拿下两个高密度的流量入口。\n根据淘宝方面的数据，截至2020年1月19日，聚划算“百亿补贴”累计访问已超过2亿人次。聚划算因此被提升至战略位置，并上线淘宝一级入口。\n从京东拼购升级为独立单元京喜开始，京东就开始全力押注下沉市场，先后将微信一级入口、手机QQ购物入口等核心流量资源倾斜给京喜。\n一个疑问在于，京东自去年双11推出“超级百亿补贴”后，几乎没有公布过具体的相关数据。相比阿里和拼多多在“百亿补贴”的正面硬刚，京东在这个战场的存在感显得稍弱。\n最起码，京喜所取得的成绩中，“百亿补贴”贡献了多大比例，腾讯的扶持又起了多大作用，这些问题在外界眼中仍然是比较模糊的。\n账期和承压的现金流\n另外，前一阵被神舟电脑摆上桌面的，还有京东的账期。\n2月20日，神舟电脑董事长吴海军在微博上发布声明，宣布将起诉京东拖欠3亿多元货款。\n\n随后，京东回应称，因为神舟违反双方签署的产品购销协议条款，导致其未结算货款被暂缓支付。\n双方各执一词，外界看得云里雾里。最新的进展是，神舟电脑宣布将开发自有电商“神舟商城”，大有与京东分道扬镳的意味。\n对京东而言，这件事最大的影响在于，外界开始好奇，京东是否也出现了现金流问题？毕竟，在疫情之下，这个话题已经成为商业探讨中的核心关键词之一。\n我们不妨从财报中找找答案。\n财报显示，去年第四季度，京东应付账款904亿元，达到年度第二高位；同时账期为54.5天，尽管相比过去3个季度稍有下降，但依然超过54天。要知道，在2014年第二季度时，这个数字还是40天。\n\n电商平台的所谓“账期”，是指用户在线上消费后先付款给电商平台的时间，与平台向商家付款时间之间的周期。账期越短，意味着平台的资金流转越快，运营效率就越高，反之则表明平台出现了一定的流动性困难。\n总体看来，京东的账期拉长已成趋势。\n接着看财报。截止2019年12月31日，京东账上的现金及现金等价物、受限资金及短期投资为645亿元。这个数字，显然低于四季度904亿元的应付账款总额。此时，就需要通过账期来缓解资金压力。\n所以，迈过扭亏为盈这道坎后，京东相当于完成了商业进化的重要一步。但同样在变化的还有市场环境。\n拼多多的成功突围，将电商的竞争重新拉回了价格战的阴影之下，京东出现现金流承压的现象，是一个合理结果。面对拼多多的攻势和阿里的竞争，京东未来仍然需要接受市场的进一步检验。","news_type":1},"isVote":1,"tweetType":1,"viewCount":1034,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":900171629,"gmtCreate":1555509974161,"gmtModify":1704798946082,"author":{"id":"3497509140372624","authorId":"3497509140372624","name":"阿拉蕾是你","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"$京东(JD)$ 被做空的时候，总会发现很多新鲜面孔来告诉你要跌，你们的目的，这不是很明显么。","listText":"$京东(JD)$ 被做空的时候，总会发现很多新鲜面孔来告诉你要跌，你们的目的，这不是很明显么。","text":"$京东(JD)$ 被做空的时候，总会发现很多新鲜面孔来告诉你要跌，你们的目的，这不是很明显么。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/900171629","isVote":1,"tweetType":1,"viewCount":460,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":390475,"gmtCreate":1548775118947,"gmtModify":1704788268757,"author":{"id":"3497509140372624","authorId":"3497509140372624","name":"阿拉蕾是你","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"$拼多多(PDD)$ 起码看到了，大家并不相信拼多多，论你是指再怎么涨，也依然得不到正名","listText":"$拼多多(PDD)$ 起码看到了，大家并不相信拼多多，论你是指再怎么涨，也依然得不到正名","text":"$拼多多(PDD)$ 起码看到了，大家并不相信拼多多，论你是指再怎么涨，也依然得不到正名","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":7,"repostSize":0,"link":"https://laohu8.com/post/390475","isVote":1,"tweetType":1,"viewCount":1176,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3500466473833175","authorId":"3500466473833175","name":"响亮名字好","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0},"content":"人傻也是难以纠正","text":"人傻也是难以纠正","html":"人傻也是难以纠正"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":388146,"gmtCreate":1548427566249,"gmtModify":1704787971861,"author":{"id":"3497509140372624","authorId":"3497509140372624","name":"阿拉蕾是你","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"$拼多多(PDD)$ 腾讯军乏力了，做空","listText":"$拼多多(PDD)$ 腾讯军乏力了，做空","text":"$拼多多(PDD)$ 腾讯军乏力了，做空","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/388146","isVote":1,"tweetType":1,"viewCount":441,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":387247,"gmtCreate":1548347086264,"gmtModify":1704787855412,"author":{"id":"3497509140372624","authorId":"3497509140372624","name":"阿拉蕾是你","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"$拼多多(PDD)$ 我不信没人敢弄死腾讯，阿里这波还不连横抄后路？","listText":"$拼多多(PDD)$ 我不信没人敢弄死腾讯，阿里这波还不连横抄后路？","text":"$拼多多(PDD)$ 我不信没人敢弄死腾讯，阿里这波还不连横抄后路？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/387247","isVote":1,"tweetType":1,"viewCount":1499,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":332765,"gmtCreate":1542348879540,"gmtModify":1704781064565,"author":{"id":"3497509140372624","authorId":"3497509140372624","name":"阿拉蕾是你","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"$美团点评-W(03690)$ 今天外卖黑幕被曝，覆盖范围相当大，美团饿了吗应该要受波及了吧。","listText":"$美团点评-W(03690)$ 今天外卖黑幕被曝，覆盖范围相当大，美团饿了吗应该要受波及了吧。","text":"$美团点评-W(03690)$ 今天外卖黑幕被曝，覆盖范围相当大，美团饿了吗应该要受波及了吧。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/332765","isVote":1,"tweetType":1,"viewCount":2372,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3475966715347852","authorId":"3475966715347852","name":"奔向风口的猪","avatar":"https://static.tigerbbs.com/d58c09660e8ee0f68b5e8d26a68a1ee8","crmLevel":1,"crmLevelSwitch":0},"content":"22号有财报发布，美团第一次财报，多少会要做好看点，股玩家也多少抱着希望，不致于出货，且此货又不能做空，所以hold在这儿了！","text":"22号有财报发布，美团第一次财报，多少会要做好看点，股玩家也多少抱着希望，不致于出货，且此货又不能做空，所以hold在这儿了！","html":"22号有财报发布，美团第一次财报，多少会要做好看点，股玩家也多少抱着希望，不致于出货，且此货又不能做空，所以hold在这儿了！"}],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":390475,"gmtCreate":1548775118947,"gmtModify":1704788268757,"author":{"id":"3497509140372624","authorId":"3497509140372624","name":"阿拉蕾是你","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"$拼多多(PDD)$ 起码看到了，大家并不相信拼多多，论你是指再怎么涨，也依然得不到正名","listText":"$拼多多(PDD)$ 起码看到了，大家并不相信拼多多，论你是指再怎么涨，也依然得不到正名","text":"$拼多多(PDD)$ 起码看到了，大家并不相信拼多多，论你是指再怎么涨，也依然得不到正名","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":7,"repostSize":0,"link":"https://laohu8.com/post/390475","isVote":1,"tweetType":1,"viewCount":1176,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3500466473833175","authorId":"3500466473833175","name":"响亮名字好","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0},"content":"人傻也是难以纠正","text":"人傻也是难以纠正","html":"人傻也是难以纠正"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":332765,"gmtCreate":1542348879540,"gmtModify":1704781064565,"author":{"id":"3497509140372624","authorId":"3497509140372624","name":"阿拉蕾是你","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"$美团点评-W(03690)$ 今天外卖黑幕被曝，覆盖范围相当大，美团饿了吗应该要受波及了吧。","listText":"$美团点评-W(03690)$ 今天外卖黑幕被曝，覆盖范围相当大，美团饿了吗应该要受波及了吧。","text":"$美团点评-W(03690)$ 今天外卖黑幕被曝，覆盖范围相当大，美团饿了吗应该要受波及了吧。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/332765","isVote":1,"tweetType":1,"viewCount":2372,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3475966715347852","authorId":"3475966715347852","name":"奔向风口的猪","avatar":"https://static.tigerbbs.com/d58c09660e8ee0f68b5e8d26a68a1ee8","crmLevel":1,"crmLevelSwitch":0},"content":"22号有财报发布，美团第一次财报，多少会要做好看点，股玩家也多少抱着希望，不致于出货，且此货又不能做空，所以hold在这儿了！","text":"22号有财报发布，美团第一次财报，多少会要做好看点，股玩家也多少抱着希望，不致于出货，且此货又不能做空，所以hold在这儿了！","html":"22号有财报发布，美团第一次财报，多少会要做好看点，股玩家也多少抱着希望，不致于出货，且此货又不能做空，所以hold在这儿了！"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":959174791,"gmtCreate":1589823900913,"gmtModify":1704190802490,"author":{"id":"3497509140372624","authorId":"3497509140372624","name":"阿拉蕾是你","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/JD\">$京东(JD)$</a>1000亿？","listText":"<a href=\"https://laohu8.com/S/JD\">$京东(JD)$</a>1000亿？","text":"$京东(JD)$1000亿？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/959174791","isVote":1,"tweetType":1,"viewCount":1041,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":922227521,"gmtCreate":1587566931563,"gmtModify":1704364815059,"author":{"id":"3497509140372624","authorId":"3497509140372624","name":"阿拉蕾是你","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/PDD\">$拼多多(PDD)$</a>继续买，过两天得大跌，小股民跟着凑热闹","listText":"<a href=\"https://laohu8.com/S/PDD\">$拼多多(PDD)$</a>继续买，过两天得大跌，小股民跟着凑热闹","text":"$拼多多(PDD)$继续买，过两天得大跌，小股民跟着凑热闹","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/922227521","isVote":1,"tweetType":1,"viewCount":1145,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":388146,"gmtCreate":1548427566249,"gmtModify":1704787971861,"author":{"id":"3497509140372624","authorId":"3497509140372624","name":"阿拉蕾是你","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"$拼多多(PDD)$ 腾讯军乏力了，做空","listText":"$拼多多(PDD)$ 腾讯军乏力了，做空","text":"$拼多多(PDD)$ 腾讯军乏力了，做空","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/388146","isVote":1,"tweetType":1,"viewCount":441,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":134008403,"gmtCreate":1622189842702,"gmtModify":1622189842702,"author":{"id":"3497509140372624","authorId":"3497509140372624","name":"阿拉蕾是你","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/02618\">$京东物流(02618)$</a>低吸的好时机，看涨","listText":"<a href=\"https://laohu8.com/S/02618\">$京东物流(02618)$</a>低吸的好时机，看涨","text":"$京东物流(02618)$低吸的好时机，看涨","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/134008403","isVote":1,"tweetType":1,"viewCount":925,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":387247,"gmtCreate":1548347086264,"gmtModify":1704787855412,"author":{"id":"3497509140372624","authorId":"3497509140372624","name":"阿拉蕾是你","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"$拼多多(PDD)$ 我不信没人敢弄死腾讯，阿里这波还不连横抄后路？","listText":"$拼多多(PDD)$ 我不信没人敢弄死腾讯，阿里这波还不连横抄后路？","text":"$拼多多(PDD)$ 我不信没人敢弄死腾讯，阿里这波还不连横抄后路？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/387247","isVote":1,"tweetType":1,"viewCount":1499,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":135253595,"gmtCreate":1622166277417,"gmtModify":1622166277417,"author":{"id":"3497509140372624","authorId":"3497509140372624","name":"阿拉蕾是你","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"京东物流有自动化加持，人员成本随时间推移会下降，目前其他物流公司均不具备此类能力，容易形成壁垒，看涨","listText":"京东物流有自动化加持，人员成本随时间推移会下降，目前其他物流公司均不具备此类能力，容易形成壁垒，看涨","text":"京东物流有自动化加持，人员成本随时间推移会下降，目前其他物流公司均不具备此类能力，容易形成壁垒，看涨","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/135253595","repostId":"135229942","repostType":1,"repost":{"id":135229942,"gmtCreate":1622165831386,"gmtModify":1622165831386,"author":{"id":"3494367660508553","authorId":"3494367660508553","name":"面币思过","avatar":"https://static.tigerbbs.com/eebeb629c32510fbc2623963ad5f592d","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/02618\">$京东物流(02618)$</a>京东物流重资产，以前养的人随着时间推移，成本不短增高，物流行业利润不断下降，看空","listText":"<a href=\"https://laohu8.com/S/02618\">$京东物流(02618)$</a>京东物流重资产，以前养的人随着时间推移，成本不短增高，物流行业利润不断下降，看空","text":"$京东物流(02618)$京东物流重资产，以前养的人随着时间推移，成本不短增高，物流行业利润不断下降，看空","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/135229942","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":951,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":983461645,"gmtCreate":1583369789687,"gmtModify":1704349605546,"author":{"id":"3497509140372624","authorId":"3497509140372624","name":"阿拉蕾是你","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"每年都有那么几个贴在友善的告诉你，要清醒，好想他自己没有任何收益的武无偿在帮你","listText":"每年都有那么几个贴在友善的告诉你，要清醒，好想他自己没有任何收益的武无偿在帮你","text":"每年都有那么几个贴在友善的告诉你，要清醒，好想他自己没有任何收益的武无偿在帮你","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/983461645","repostId":"1192133245","repostType":2,"isVote":1,"tweetType":1,"viewCount":1034,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":900171629,"gmtCreate":1555509974161,"gmtModify":1704798946082,"author":{"id":"3497509140372624","authorId":"3497509140372624","name":"阿拉蕾是你","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"$京东(JD)$ 被做空的时候，总会发现很多新鲜面孔来告诉你要跌，你们的目的，这不是很明显么。","listText":"$京东(JD)$ 被做空的时候，总会发现很多新鲜面孔来告诉你要跌，你们的目的，这不是很明显么。","text":"$京东(JD)$ 被做空的时候，总会发现很多新鲜面孔来告诉你要跌，你们的目的，这不是很明显么。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/900171629","isVote":1,"tweetType":1,"viewCount":460,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}