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Bigboss51
2021-10-15
Time to buy more
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Bigboss51
2021-04-28
Go for it, it’s time for investment and capital appreciation[开心]
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Bigboss51
2021-04-15
Disappointed [呆住]
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Bigboss51
2021-02-24
[财迷]
Selecting Your Chinese NEV Stock: An Ultimate Guide To NIO, XPeng, And Li Auto
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Time to buy more ","listText":" Time to buy more ","text":"Time to buy more","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/824899372","repostId":"1169529009","repostType":2,"isVote":1,"tweetType":1,"viewCount":473,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":100508977,"gmtCreate":1619619606599,"gmtModify":1631893569296,"author":{"id":"3576363004948542","authorId":"3576363004948542","authorIdStr":"3576363004948542","name":"Bigboss51","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Go for it, it’s time for investment and capital appreciation[开心] ","listText":"Go for it, it’s time for investment and capital appreciation[开心] ","text":"Go for it, it’s time for investment and capital appreciation[开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/100508977","repostId":"1137925814","repostType":4,"isVote":1,"tweetType":1,"viewCount":410,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":344487935,"gmtCreate":1618431075027,"gmtModify":1634293019751,"author":{"id":"3576363004948542","authorId":"3576363004948542","authorIdStr":"3576363004948542","name":"Bigboss51","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Disappointed [呆住] ","listText":"Disappointed [呆住] ","text":"Disappointed [呆住]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/344487935","repostId":"1186838018","repostType":4,"isVote":1,"tweetType":1,"viewCount":488,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":363769057,"gmtCreate":1614173519879,"gmtModify":1634550882926,"author":{"id":"3576363004948542","authorId":"3576363004948542","authorIdStr":"3576363004948542","name":"Bigboss51","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"[财迷] ","listText":"[财迷] ","text":"[财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/363769057","repostId":"1115367460","repostType":4,"repost":{"id":"1115367460","pubTimestamp":1614137283,"share":"https://www.laohu8.com/m/news/1115367460?lang=&edition=full","pubTime":"2021-02-24 11:28","market":"us","language":"en","title":"Selecting Your Chinese NEV Stock: An Ultimate Guide To NIO, XPeng, And Li Auto","url":"https://stock-news.laohu8.com/highlight/detail?id=1115367460","media":"seekingalpha","summary":"Summary\n\nNIO, XPeng, and Li Auto share similar business development trajectories in the Chinese auto","content":"<p><b>Summary</b></p>\n<ul>\n <li>NIO, XPeng, and Li Auto share similar business development trajectories in the Chinese auto market.</li>\n <li>Their management teams are from divergent backgrounds and the companies prefer different types of talents.</li>\n <li>Both top Chinese capital managers and local governments support these EV pioneers.</li>\n <li>NIO is the absolute sales leader in the segment, while XPeng's NGP has the best features of autonomous driving.</li>\n <li>We remain bullish on NIO and XPeng in 2021, keeping our targets at USD 62 and USD 72 respectively.</li>\n</ul>\n<p>The electric vehicles (\"EVs\") market was under the spotlight in 2020. Benefiting from the rocketing value of Tesla (TSLA), Elon Musk became the richest person in the world. Meanwhile, a few EV startups, including XPeng (XPEV) and Li Auto (LI) went public, attracting diverse investors' attention. Their compatriot NIO (NIO), which went public in 2018, saw its stock surge by 1,110%. While some investors place bold bets on these companies, increasing the growing avalanche of hype, some believe these stocks are not worth investing in, as their business fundamentals and current market caps are not seen to match.</p>\n<p>To enhance the possibility of an objective view of the space, this article provides an in-depth comparison of Chinese EV pioneers - NIO, XPeng and Li Auto - across several essential dimensions. A combination of comprehensive business research and technology analysis allows us to tailor an actionable message for investors with different styles and angles regarding these companies. It is a long, data-heavy read for those willing to learn as much as possible about the trio.</p>\n<p><b>Core management</b></p>\n<p>Like many other inspiring startup stories, EV brands face a long process before they can truly succeed. Persistence, creativity and agile thinking are all indispensable. Another key element is the makeup of a company's core team, where compatible, complementary mindsets are fundamental to success. We will start the article by introducing the three management teams and how their backgrounds have been affecting the companies' strategies.</p>\n<p><img src=\"https://static.tigerbbs.com/283247e74e0caa4d46f1c454e05b15ce\" tg-width=\"1280\" tg-height=\"1276\" referrerpolicy=\"no-referrer\"></p>\n<p><img src=\"https://static.tigerbbs.com/a0eb9fcd6925222b8f46b5422a29a616\" tg-width=\"1280\" tg-height=\"529\" referrerpolicy=\"no-referrer\"></p>\n<p><b>NIO</b>'s management team was one of the earliest groups generating ideas for manufacturing NEVs in China. In the beginning phase, the company employed a number of talents who later moved on with XPeng and Li Auto. These include Li Auto's founder, who used to be a director at NextEV (NIO's original name). Moreover, to some extent, NIO is weighted towards management with finance backgrounds. The crew has abundant connections with the Chinese multinational technology conglomerates like Tencent, Xiaomi,JD.comand the Hefei government. Besides, the board has an outstanding spirit of surviving in adversity. For instance, NIO had some scandals like car safety problems, large layoffs and cash drain. But it was still revived in 2020 with consistent stellar car sales.</p>\n<p><b>XPeng</b>'s management has years of experience in the automobile industry. Most of the team members are from GAC, a top carmaker in China. Even though XPeng has sold fewer cars than NIO and Li Auto, with some bad press around their safety record, their cars do not actually have any severe safety problems - only a few design flaws grumbled about by buyers. For example, XPeng P7's trunk was once called not user-friendly and hard to open; another occasion made the company recall tens of thousands of the G3 units.</p>\n<p>In addition, some of XPeng's other core team members are from UCweb, another company founded earlier by XPeng's founder Mr. Xiaopeng He. Now a subsidiary of Alibaba (BABA), this corporation designs the most popular mobile browsers in China and Indonesia. With assistance from field experts, XPeng designs well-functioning software and in-car entertainment solutions. Recently, the management team has started to connect with a young generation who are willing to learn quickly. With a new marketing focus, XPeng has replicated NIO's strategies by branding itself through developing online communities and holding various activities with its stakeholders.</p>\n<p><b>Li Auto</b>'s management team primarily consists of private equity partners and staff led by Li Xiang. This team is less experienced in car production, but they are capable of delivering high-quality products - as proved by Li ONE's sales momentum in 2020. The founder of Li Auto and Autohome, a major online forum for automobile consumers in China, Mr. Li leads a group of professionals focusing on a single EREV (extended-range electric vehicle) model. With less focus on R&D and vehicle design, this team doesn't seem to be as proficient as the top execs at NIO and XPeng.</p>\n<p><b>Recruiting layouts and strategies</b></p>\n<p>By October 2020,<b>NIO</b>'s employee number had reached 7,194, of which 36% were R&D staff. Even if NIO is hiring fewer R&D people than XPeng, it, on average, pays the most competitive salary. Besides, NIO has an immense cohort of salespeople, who take up the largest share in the company's headcount.</p>\n<p><b>XPeng</b>appears to be more tech-oriented, focusing on R&D. The company is less concerned on the sales and marketing, with more weight on the manufacturing, administration and general management divisions.</p>\n<p><b>Li Auto</b>, as per its employee sourcing strategy, prioritizes cost-efficiency with less spending on R&D and sales. However, it is currently the most active among the three in hiring sales personnel.</p>\n<p><b>Brand ethos and corporate vision</b></p>\n<p><b>NIO</b>'s motto is 'shaping a joyful lifestyle through selling premium smart electric vehicles.' Apart from their high-end SUVs, NIO differentiates itself from its competitors by highlighting customer services.</p>\n<p>Their 'worry-free' service permeates into small details. For instance, the company will offer free coffee to car owners while they are swapping batteries. Consumers tend to have a highly satisfying shopping experience, with door-to-door services and other leisure activities provided by NIO. These enjoyable experiences have boosted car sales and increased user stickiness in the NIO community.</p>\n<p>This leads to NIO's premium market position instead of lowering prices to obtain favors from its consumers. With a well-structured strategy, they have no incentive to change the pricing model. The company is also very likely to apply a similar business model in the European and other global markets it plans to expand to.</p>\n<p><b>XPeng</b>'s perspective concentrates on another popular type of business model. The company provides tailored service to China's middle-class tech-savvy consumers. This group wants to have smart EVs with the latest technology. It is consistent with the story in which a veteran engineer-CEO is leading lots of engineers doing R&D. XPeng is known as the 'bravest' player in the industry striving for innovation-based growth.</p>\n<p>Taking a look at the EV blueprint, the prototype of<b>Li Auto</b>'s Li ONE is to solve issues for most middle-class families. This principle shows management's interpretation of the EV value proposition. As the CEO, Li Xiang can present a highly satisfying product in Autohome - he can also make acceptable EVs for consumers with a 7-seat model while having fewer worries about driving range. Li ONE's EREV model should boost the company's short-term growth as a transitional model. From this aspect, it will probably need to unveil another pure EV, which may pose a challenge in the future.</p>\n<p><b>The stories behind</b></p>\n<p><img src=\"https://static.tigerbbs.com/b66fa1a8fb48ed61505984de84c317e6\" tg-width=\"1280\" tg-height=\"1175\" referrerpolicy=\"no-referrer\"></p>\n<p>As the nominal leader in the Chinese EV race,<b>NIO</b>set off fast from its inception in 2014 and subsequently scrambled along at a steady pace. The company received funding regularly from 2015 to 2020. In total, NIO has four car models and three of those have been massively delivered. The company is supported solidly by many 'best-in-China' corporate players like Tencent, which invested in NIO twice in 2017. Other big tech players, including Xiaomi andJD.com, are also among its backers.</p>\n<p>Besides, the Hefei local government has made every effort to be an important pillar of NIO's success. They provide resources and funding support for the long-term growth of NIO in Hefei. As a return, NIO has to cooperate tightly with other local corporations, including building headquarters in the city. Deutsche Bank's analyst Edison Yubelievesthat it is a favorabledealfor NIO as the government didn't ask for much stake from the company. The relationship between the two parties is further improved by the intention of the Hefei government to build a local EV supply chain. Last but not least, NIO's chose Hefei-based JAC Motors to support its manufacturing. Now they are preparing to build the second plant.</p>\n<p><b>XPeng</b>started showing rather outstanding results from 2019. Previously, it acquired capital from investors like Alibaba and the Matrix Partners. To produce cars, in 2017, it has selected Haima Motors for outsourcing. 2019 was important for XPeng: the first model (G3) was launched and first delivered in that year. Due to a slack NEV market, the car didn't enjoy great success right away.</p>\n<p>XPeng completed an IPO on the NYSE and launched a self-built CNY 6 billion plant in Zhaoqing in 2020. Alternatively, the company received CNY 4 billion funding from the Guangzhou government in September 2020 to build a smart EV manufacturing base in Guangzhou by the end of 2022. Like the Hefei government, the Guangzhou government cares more about traction on local employment and synergy effects in the supply chain instead of focusing on the financial benefits. XPeng P7, the firm's second model, became a relative success, compared to G3. At the moment, XPeng is preparing a rollout of its third model.</p>\n<p>Compared with NIO and XPeng,<b>Li Auto</b>seems to be a low-profile company, focusing on a single EREV model and growing its production capacity steadily. The company has been pacing steadily, rolling out Li ONE in 2018. They have also received capital support from Meituan, which is the most important investor apart from Li Xiang himself. Meituan and its founder, Wang Xing, led Li Auto's three rounds of funding, as well as its USD 1.1 billion IPO. Li Auto recalled thousands of cars in November 2020 but eventually solved its technical problems. Besides this, the company also chose to build a plant by itself in Changzhou after acquiring manufacturing capacity through the purchase of Lifan Group.</p>\n<p><b>Product strategies</b></p>\n<p><img src=\"https://static.tigerbbs.com/de00a570a3eee363767d56a415314a18\" tg-width=\"1280\" tg-height=\"1438\" referrerpolicy=\"no-referrer\"></p>\n<p><b>NIO</b>'s EVs have an advantage known as the 'integrated design' and can be easily recognized. The company focuses on the sport utility vehicles market, the largest passenger car market segment in China. The company's car portfolio consists of a middle SUV ES6, large SUV ES8, and sloping rear SUV EC6 tailored to young individuals. Currently, the management team is working on their first sedan ET7 equipped with some new features. Besides, unlike Tesla's simple interior design, NIO wants to offer buyers more options on selections of air suspension, Brembo brake pad, Nappa upholstery, seat heating, and more. Finally, NIO car owners can enjoy unique charging experience, battery swap and customer services. These services make NIO stand out among EV makers in China and symbolize the company as a high-end brand.</p>\n<p><b>XPeng</b>has drawn to a different game, aiming to evolve car models fastly. The company's first car G3 is an ordinary model EV with no staggering features. But the company refreshed people's minds after launching the sports sedan P7 in April 2020. With a stylish exterior and tech features for automatic parking, the model also has in-car voice recognition and car light shows, karaoke… On the other hand, P7 doesn't have top-notch hardware and interior like NIO but is still acceptable especially compared with automobiles in the same price class. Due to the P7's success, the management team transformed the model into several versions, including the performance model, the long-range model reaching 706 km, and the most recent one with gullwing doors. The company is expected to launch and start delivering a new sedan in Q4 2021.</p>\n<p><b>Li Auto</b>'s ONE is the only product scheduled for 2022. With a limited model variety, the company tries to meet the needs of a diverse group. It has a non-experimental design, 6/7 seats, and power that achieves 800 km driving range with 40.5 kWh battery and gas power supply. This model also provides splendid entertainment experience through four in-car screens. One key feature is its EREV model, a non-pure EV that can drive only 180 km when only using the battery for power. Li Auto doesn't have any EV infrastructures like supercharging points or swap stations, which tends to misguide people thinking that Li Auto is not really an EV maker.</p>\n<p><img src=\"https://static.tigerbbs.com/3ea1e9124235a5083b00740aef7457f6\" tg-width=\"1280\" tg-height=\"1283\" referrerpolicy=\"no-referrer\"></p>\n<p>More comprehensively, according to Autohome, NIO's cars are versatile, performing better than their peers generally. For example, ES6 performs better than 90% of cars in the peer group on power, range, control and hardware. Its safety and space exceed 82% and 89% of cars in the segment. Li Auto and XPeng's models have some 'short stave' space like G3 and P7, and the range of Li ONE.</p>\n<p><b>Core technology</b></p>\n<p><img src=\"https://static.tigerbbs.com/e232325d35fede4cefefbab4285213d2\" tg-width=\"1280\" tg-height=\"1425\" referrerpolicy=\"no-referrer\"></p>\n<p>In terms of software and self-driving systems, NIO and XPeng are more advanced than Li Auto. Because of its higher production cost, NIO's basic bundle includes several features like Collision Warning, Automatic Emergency Braking and Blind Spot Detection (BSD). There are advanced features like Navigation On Pilot (NOP) and automatic parking that normally require additional spending. XPeng P7 also provides more options with buyers on the pilot features. But most of them involve additional charges. In some important features like parking and NBS, NGP (Navigation Guided Pilot) performs better than NIO's NOP. Besides, Li Auto only offers a limited pilot driving experience.</p>\n<p><b>Marketing</b></p>\n<p>Due to NEVs' technology traits, the marketing strategy of most vendors is somewhat similar to that of those selling electronic devices, with a high standard of offline and online retailing and multi-channel systems. This is quite different from traditional car sales and venue-dealerships like 4S stores in China.</p>\n<p><img src=\"https://static.tigerbbs.com/1e095abad28e83b5f44ce2c902697c9d\" tg-width=\"1280\" tg-height=\"844\" referrerpolicy=\"no-referrer\"></p>\n<p>There are advantages and disadvantages to the new retailing. But overall it is favored by the companies.</p>\n<p><b>Pros:</b></p>\n<ul>\n <li><p>The product is accessible to consumers within a certain commuting distance.</p></li>\n <li><p>The stores are exposed to more traffic than remote stores.</p></li>\n <li><p>Lower and nimbler customer acquisition cost.</p></li>\n <li><p>The cost for stores targeting potential customers is more affordable than before.</p></li>\n <li><p>Online and offline activities make it effective for brands to maintain relationships with clients.</p></li>\n</ul>\n<p><b>Cons:</b></p>\n<ul>\n <li><p>The costs of exhibiting cars in the downtown area are getting higher as more models emerge. The selling and marketing strategies are easy to mimic.</p></li>\n <li><p>It's difficult to manage a more complicated selling and marketing process.</p></li>\n</ul>\n<p>By entering the NEV space with higher costs, NIO excels in design, site selection, selling, and after-market service. NIO uses a new retailing network covering online and offline, including NIO Houses, NIO Spaces and mobile applications, such as NIO Day and NIO Power. Due to weaker budgeting performances, XPeng and Li Auto also adopted a similar approach, but, at the moment, can't compete with NIO in many aspects, including branding, after-market service and location selection.</p>\n<p><b>At a glance</b></p>\n<p>When it comes to growth stocks, the ability to innovate is a crucial argument in the conversation. Resulting from the multidimensional comparison of the three Chinese EV makers, we can easily state that Li Auto is a laggard in this race (we have also explained this assertion inanother Seeking Alpha article). While holding its shares might be a decent short-term speculation strategy, the company is not likely to deliver significant value in the long term, when the electric vehicle sector enters the stage of maturity in China.</p>\n<p>NIO and XPeng, on the other hand, appear to be well-equipped, versatile automakers. We keep our price targets atUSD 62 for the formerand atUSD 72 for the latter.</p>","source":"seekingalpha","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>Selecting Your Chinese NEV Stock: An Ultimate Guide To NIO, XPeng, And Li Auto</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\">\nSelecting Your Chinese NEV Stock: An Ultimate Guide To NIO, XPeng, And Li Auto\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-24 11:28 GMT+8 <a href=https://seekingalpha.com/article/4408221-chinese-nev-stock-ultimate-guide-nio-xpeng-li-auto><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nNIO, XPeng, and Li Auto share similar business development trajectories in the Chinese auto market.\nTheir management teams are from divergent backgrounds and the companies prefer different ...</p>\n\n<a href=\"https://seekingalpha.com/article/4408221-chinese-nev-stock-ultimate-guide-nio-xpeng-li-auto\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LI":"理想汽车","NIO":"蔚来","XPEV":"小鹏汽车"},"source_url":"https://seekingalpha.com/article/4408221-chinese-nev-stock-ultimate-guide-nio-xpeng-li-auto","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1115367460","content_text":"Summary\n\nNIO, XPeng, and Li Auto share similar business development trajectories in the Chinese auto market.\nTheir management teams are from divergent backgrounds and the companies prefer different types of talents.\nBoth top Chinese capital managers and local governments support these EV pioneers.\nNIO is the absolute sales leader in the segment, while XPeng's NGP has the best features of autonomous driving.\nWe remain bullish on NIO and XPeng in 2021, keeping our targets at USD 62 and USD 72 respectively.\n\nThe electric vehicles (\"EVs\") market was under the spotlight in 2020. Benefiting from the rocketing value of Tesla (TSLA), Elon Musk became the richest person in the world. Meanwhile, a few EV startups, including XPeng (XPEV) and Li Auto (LI) went public, attracting diverse investors' attention. Their compatriot NIO (NIO), which went public in 2018, saw its stock surge by 1,110%. While some investors place bold bets on these companies, increasing the growing avalanche of hype, some believe these stocks are not worth investing in, as their business fundamentals and current market caps are not seen to match.\nTo enhance the possibility of an objective view of the space, this article provides an in-depth comparison of Chinese EV pioneers - NIO, XPeng and Li Auto - across several essential dimensions. A combination of comprehensive business research and technology analysis allows us to tailor an actionable message for investors with different styles and angles regarding these companies. It is a long, data-heavy read for those willing to learn as much as possible about the trio.\nCore management\nLike many other inspiring startup stories, EV brands face a long process before they can truly succeed. Persistence, creativity and agile thinking are all indispensable. Another key element is the makeup of a company's core team, where compatible, complementary mindsets are fundamental to success. We will start the article by introducing the three management teams and how their backgrounds have been affecting the companies' strategies.\n\n\nNIO's management team was one of the earliest groups generating ideas for manufacturing NEVs in China. In the beginning phase, the company employed a number of talents who later moved on with XPeng and Li Auto. These include Li Auto's founder, who used to be a director at NextEV (NIO's original name). Moreover, to some extent, NIO is weighted towards management with finance backgrounds. The crew has abundant connections with the Chinese multinational technology conglomerates like Tencent, Xiaomi,JD.comand the Hefei government. Besides, the board has an outstanding spirit of surviving in adversity. For instance, NIO had some scandals like car safety problems, large layoffs and cash drain. But it was still revived in 2020 with consistent stellar car sales.\nXPeng's management has years of experience in the automobile industry. Most of the team members are from GAC, a top carmaker in China. Even though XPeng has sold fewer cars than NIO and Li Auto, with some bad press around their safety record, their cars do not actually have any severe safety problems - only a few design flaws grumbled about by buyers. For example, XPeng P7's trunk was once called not user-friendly and hard to open; another occasion made the company recall tens of thousands of the G3 units.\nIn addition, some of XPeng's other core team members are from UCweb, another company founded earlier by XPeng's founder Mr. Xiaopeng He. Now a subsidiary of Alibaba (BABA), this corporation designs the most popular mobile browsers in China and Indonesia. With assistance from field experts, XPeng designs well-functioning software and in-car entertainment solutions. Recently, the management team has started to connect with a young generation who are willing to learn quickly. With a new marketing focus, XPeng has replicated NIO's strategies by branding itself through developing online communities and holding various activities with its stakeholders.\nLi Auto's management team primarily consists of private equity partners and staff led by Li Xiang. This team is less experienced in car production, but they are capable of delivering high-quality products - as proved by Li ONE's sales momentum in 2020. The founder of Li Auto and Autohome, a major online forum for automobile consumers in China, Mr. Li leads a group of professionals focusing on a single EREV (extended-range electric vehicle) model. With less focus on R&D and vehicle design, this team doesn't seem to be as proficient as the top execs at NIO and XPeng.\nRecruiting layouts and strategies\nBy October 2020,NIO's employee number had reached 7,194, of which 36% were R&D staff. Even if NIO is hiring fewer R&D people than XPeng, it, on average, pays the most competitive salary. Besides, NIO has an immense cohort of salespeople, who take up the largest share in the company's headcount.\nXPengappears to be more tech-oriented, focusing on R&D. The company is less concerned on the sales and marketing, with more weight on the manufacturing, administration and general management divisions.\nLi Auto, as per its employee sourcing strategy, prioritizes cost-efficiency with less spending on R&D and sales. However, it is currently the most active among the three in hiring sales personnel.\nBrand ethos and corporate vision\nNIO's motto is 'shaping a joyful lifestyle through selling premium smart electric vehicles.' Apart from their high-end SUVs, NIO differentiates itself from its competitors by highlighting customer services.\nTheir 'worry-free' service permeates into small details. For instance, the company will offer free coffee to car owners while they are swapping batteries. Consumers tend to have a highly satisfying shopping experience, with door-to-door services and other leisure activities provided by NIO. These enjoyable experiences have boosted car sales and increased user stickiness in the NIO community.\nThis leads to NIO's premium market position instead of lowering prices to obtain favors from its consumers. With a well-structured strategy, they have no incentive to change the pricing model. The company is also very likely to apply a similar business model in the European and other global markets it plans to expand to.\nXPeng's perspective concentrates on another popular type of business model. The company provides tailored service to China's middle-class tech-savvy consumers. This group wants to have smart EVs with the latest technology. It is consistent with the story in which a veteran engineer-CEO is leading lots of engineers doing R&D. XPeng is known as the 'bravest' player in the industry striving for innovation-based growth.\nTaking a look at the EV blueprint, the prototype ofLi Auto's Li ONE is to solve issues for most middle-class families. This principle shows management's interpretation of the EV value proposition. As the CEO, Li Xiang can present a highly satisfying product in Autohome - he can also make acceptable EVs for consumers with a 7-seat model while having fewer worries about driving range. Li ONE's EREV model should boost the company's short-term growth as a transitional model. From this aspect, it will probably need to unveil another pure EV, which may pose a challenge in the future.\nThe stories behind\n\nAs the nominal leader in the Chinese EV race,NIOset off fast from its inception in 2014 and subsequently scrambled along at a steady pace. The company received funding regularly from 2015 to 2020. In total, NIO has four car models and three of those have been massively delivered. The company is supported solidly by many 'best-in-China' corporate players like Tencent, which invested in NIO twice in 2017. Other big tech players, including Xiaomi andJD.com, are also among its backers.\nBesides, the Hefei local government has made every effort to be an important pillar of NIO's success. They provide resources and funding support for the long-term growth of NIO in Hefei. As a return, NIO has to cooperate tightly with other local corporations, including building headquarters in the city. Deutsche Bank's analyst Edison Yubelievesthat it is a favorabledealfor NIO as the government didn't ask for much stake from the company. The relationship between the two parties is further improved by the intention of the Hefei government to build a local EV supply chain. Last but not least, NIO's chose Hefei-based JAC Motors to support its manufacturing. Now they are preparing to build the second plant.\nXPengstarted showing rather outstanding results from 2019. Previously, it acquired capital from investors like Alibaba and the Matrix Partners. To produce cars, in 2017, it has selected Haima Motors for outsourcing. 2019 was important for XPeng: the first model (G3) was launched and first delivered in that year. Due to a slack NEV market, the car didn't enjoy great success right away.\nXPeng completed an IPO on the NYSE and launched a self-built CNY 6 billion plant in Zhaoqing in 2020. Alternatively, the company received CNY 4 billion funding from the Guangzhou government in September 2020 to build a smart EV manufacturing base in Guangzhou by the end of 2022. Like the Hefei government, the Guangzhou government cares more about traction on local employment and synergy effects in the supply chain instead of focusing on the financial benefits. XPeng P7, the firm's second model, became a relative success, compared to G3. At the moment, XPeng is preparing a rollout of its third model.\nCompared with NIO and XPeng,Li Autoseems to be a low-profile company, focusing on a single EREV model and growing its production capacity steadily. The company has been pacing steadily, rolling out Li ONE in 2018. They have also received capital support from Meituan, which is the most important investor apart from Li Xiang himself. Meituan and its founder, Wang Xing, led Li Auto's three rounds of funding, as well as its USD 1.1 billion IPO. Li Auto recalled thousands of cars in November 2020 but eventually solved its technical problems. Besides this, the company also chose to build a plant by itself in Changzhou after acquiring manufacturing capacity through the purchase of Lifan Group.\nProduct strategies\n\nNIO's EVs have an advantage known as the 'integrated design' and can be easily recognized. The company focuses on the sport utility vehicles market, the largest passenger car market segment in China. The company's car portfolio consists of a middle SUV ES6, large SUV ES8, and sloping rear SUV EC6 tailored to young individuals. Currently, the management team is working on their first sedan ET7 equipped with some new features. Besides, unlike Tesla's simple interior design, NIO wants to offer buyers more options on selections of air suspension, Brembo brake pad, Nappa upholstery, seat heating, and more. Finally, NIO car owners can enjoy unique charging experience, battery swap and customer services. These services make NIO stand out among EV makers in China and symbolize the company as a high-end brand.\nXPenghas drawn to a different game, aiming to evolve car models fastly. The company's first car G3 is an ordinary model EV with no staggering features. But the company refreshed people's minds after launching the sports sedan P7 in April 2020. With a stylish exterior and tech features for automatic parking, the model also has in-car voice recognition and car light shows, karaoke… On the other hand, P7 doesn't have top-notch hardware and interior like NIO but is still acceptable especially compared with automobiles in the same price class. Due to the P7's success, the management team transformed the model into several versions, including the performance model, the long-range model reaching 706 km, and the most recent one with gullwing doors. The company is expected to launch and start delivering a new sedan in Q4 2021.\nLi Auto's ONE is the only product scheduled for 2022. With a limited model variety, the company tries to meet the needs of a diverse group. It has a non-experimental design, 6/7 seats, and power that achieves 800 km driving range with 40.5 kWh battery and gas power supply. This model also provides splendid entertainment experience through four in-car screens. One key feature is its EREV model, a non-pure EV that can drive only 180 km when only using the battery for power. Li Auto doesn't have any EV infrastructures like supercharging points or swap stations, which tends to misguide people thinking that Li Auto is not really an EV maker.\n\nMore comprehensively, according to Autohome, NIO's cars are versatile, performing better than their peers generally. For example, ES6 performs better than 90% of cars in the peer group on power, range, control and hardware. Its safety and space exceed 82% and 89% of cars in the segment. Li Auto and XPeng's models have some 'short stave' space like G3 and P7, and the range of Li ONE.\nCore technology\n\nIn terms of software and self-driving systems, NIO and XPeng are more advanced than Li Auto. Because of its higher production cost, NIO's basic bundle includes several features like Collision Warning, Automatic Emergency Braking and Blind Spot Detection (BSD). There are advanced features like Navigation On Pilot (NOP) and automatic parking that normally require additional spending. XPeng P7 also provides more options with buyers on the pilot features. But most of them involve additional charges. In some important features like parking and NBS, NGP (Navigation Guided Pilot) performs better than NIO's NOP. Besides, Li Auto only offers a limited pilot driving experience.\nMarketing\nDue to NEVs' technology traits, the marketing strategy of most vendors is somewhat similar to that of those selling electronic devices, with a high standard of offline and online retailing and multi-channel systems. This is quite different from traditional car sales and venue-dealerships like 4S stores in China.\n\nThere are advantages and disadvantages to the new retailing. But overall it is favored by the companies.\nPros:\n\nThe product is accessible to consumers within a certain commuting distance.\nThe stores are exposed to more traffic than remote stores.\nLower and nimbler customer acquisition cost.\nThe cost for stores targeting potential customers is more affordable than before.\nOnline and offline activities make it effective for brands to maintain relationships with clients.\n\nCons:\n\nThe costs of exhibiting cars in the downtown area are getting higher as more models emerge. The selling and marketing strategies are easy to mimic.\nIt's difficult to manage a more complicated selling and marketing process.\n\nBy entering the NEV space with higher costs, NIO excels in design, site selection, selling, and after-market service. NIO uses a new retailing network covering online and offline, including NIO Houses, NIO Spaces and mobile applications, such as NIO Day and NIO Power. Due to weaker budgeting performances, XPeng and Li Auto also adopted a similar approach, but, at the moment, can't compete with NIO in many aspects, including branding, after-market service and location selection.\nAt a glance\nWhen it comes to growth stocks, the ability to innovate is a crucial argument in the conversation. Resulting from the multidimensional comparison of the three Chinese EV makers, we can easily state that Li Auto is a laggard in this race (we have also explained this assertion inanother Seeking Alpha article). While holding its shares might be a decent short-term speculation strategy, the company is not likely to deliver significant value in the long term, when the electric vehicle sector enters the stage of maturity in China.\nNIO and XPeng, on the other hand, appear to be well-equipped, versatile automakers. We keep our price targets atUSD 62 for the formerand atUSD 72 for the latter.","news_type":1},"isVote":1,"tweetType":1,"viewCount":750,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":100508977,"gmtCreate":1619619606599,"gmtModify":1631893569296,"author":{"id":"3576363004948542","authorId":"3576363004948542","authorIdStr":"3576363004948542","name":"Bigboss51","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Go for it, it’s time for investment and capital appreciation[开心] ","listText":"Go for it, it’s time for investment and capital appreciation[开心] ","text":"Go for it, it’s time for investment and capital appreciation[开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/100508977","repostId":"1137925814","repostType":4,"repost":{"id":"1137925814","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":1619611806,"share":"https://www.laohu8.com/m/news/1137925814?lang=&edition=full","pubTime":"2021-04-28 20:10","market":"us","language":"en","title":"Toplines Before US Market Open on Wednesday","url":"https://stock-news.laohu8.com/highlight/detail?id=1137925814","media":"Tiger Newspress","summary":"U.S. stock futures fell across the board Wednesday, the Dow Futures fell 0.26%,Nasdaq 100 Futures fe","content":"<p>U.S. stock futures fell across the board Wednesday, the Dow Futures fell 0.26%,Nasdaq 100 Futures fell 0.23%,S&P 500 Futuresfell 0.03%.As investors digest earnings from mega-cap tech companies ahead of the latest Federal Reserve meeting and a key speech from President Joe Biden.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/06e29b9aa288541087f7264a1b4f3f5e\" tg-width=\"1242\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><span>*Source From Tiger Trade, EST 08:10</span></p><p>The U.S. central bank is not expected to change its ultra-easy monetary policies, with thedecisiondue at 2 PM ET (1900 GMT). A lot of the focus will be comments from Chairman Jerome Powell, who has been consistent of late in indicating that policymakers won't be withdrawing support anytime soon.</p><p>Also of interest will be a speech by PresidentJoe Bidenbefore a joint session of Congress, where he is expected to call on U.S. policymakers to pass a $1.8 trillion package aimed toward children and families and the tax increases needed to pay for it.</p><p><b><i>Take a look at some of the biggest movers in the premarket:</i></b></p><p>Alphabet(GOOGL) – Alphabet reported record profit for the second consecutive quarter, earnings of $26.29 per share compared to a consensus estimate of $15.82 a share. Revenue beat forecasts, and the Google parent also announced a $50 billion share buyback. Shares jumped 5.1% premarket.</p><p>Spotify(SPOT) – The music streaming service logged a smaller-than-expected loss for its latest quarter, as well as beating revenue estimates and reporting a 24% increase in monthly active users. Its projected range for the current quarter's operating loss falls largely below analyst forecasts, however, and the shares skidded 7.8% in the premarket.</p><p>Pinterest(PINS) – Pinterest shares tanked 11.9% in the premarket, despite beating estimates on both the top and bottom lines for its latest quarter. Investors are focusing on a slowdown in user growth for the image-sharing company.</p><p>Shopify(SHOP) – The e-commerce platform provider’s stock rallied 5.5% in the premarket after reporting better-than-expected earnings and revenue for its latest quarter. Shopify continues to benefit from the boom in online shopping.</p><p>Boeing(BA) – Boeinglost $1.53 per share, compared to a consensus forecast for a loss of $1.15 per share. Revenue was better than expected, although the jet maker said the global pandemic continues to challenge the overall market environment. Boeing fell 1.2% in premarket trading.</p><p>Stanley Black & Decker(SWK) – The tool company beat estimates on the top and bottom lines for its latest quarter. The company also raised its fiscal year forecast and boosted its stock buyback plans by 20 million shares. Stanley Black & Decker saw particularly strong growth for tools and storage products.</p><p>Humana(HUM) – The health insurer earned $7.67 per share for its latest quarter, better than the $7.08 a share consensus estimate. Revenue beat forecasts as well, helped by strength in sales of its Medicare Advantage plans.</p><p>General Dynamics(GD) – The defense contractor’s shares added 2.2% in premarket action after it beat top and bottom line estimates for its latest quarter, helped by strength in its aerospace unit.</p><p>Garmin(GRMN) – Garmin earned $1.18 per share for the first quarter, beating the 89 cents a share consensus estimates. Revenue exceeded estimates by a wide margin amid double-digit growth for its fitness, outdoor, marine and auto segments.</p><p>Brinker International(EAT) – The parent of Chili’s and other restaurant chains missed estimates on the top and bottom lines for its latest quarter, but it gave a better-than-expected outlook. Shares rose 2.7% premarket.</p><p>Starbucks(SBUX) – Starbucks beat estimates by 9 cents a share, with quarterly earnings of 62 cents per share. Revenue came in short of forecasts, however, due to weak international sales. The coffee chain said U.S. sales have recovered to pre-pandemic levels. Starbucks shares slid 1.6% in premarket trading.</p><p>Microsoft(MSFT) – Microsoft fell 2.5% in the premarket despite earning $1.95 per share for its latest quarter, beating the $1.78 a share consensus estimate. Revenue came in above forecasts as well, boosted by an expanding presence in cloud computing and business services.</p><p>Mondelez(MDLZ) – Mondelez came in 8 cents a share above estimates, with quarterly profit of 77 cents per share. The snack maker’s revenue also came in above Wall Street projections. Mondelez continues to benefit from consumers stocking up on snacks amid the pandemic, especially in international markets where lockdowns are still prevalent. Mondelez shares added 2.5% in premarket action.</p><p>Visa(V) – Visa reported quarterly profit of $1.38 per share, 11 cents a share above estimates. The payment network operator also posted better-than-expected revenue, boosted by the ongoing surge in online shopping. Shares gained 1.6% in premarket action.</p><p>Sony(SONY) – Sony reported better-than-expected profit and revenue for its latest quarter, driven by an ongoing jump in gaming demand as well as the popularity of the PlayStation 5 gaming console. Sony gained 3.6% in premarket trading.</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>Toplines Before US Market Open on Wednesday</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\">\nToplines Before US Market Open on Wednesday\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\">2021-04-28 20:10</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>U.S. stock futures fell across the board Wednesday, the Dow Futures fell 0.26%,Nasdaq 100 Futures fell 0.23%,S&P 500 Futuresfell 0.03%.As investors digest earnings from mega-cap tech companies ahead of the latest Federal Reserve meeting and a key speech from President Joe Biden.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/06e29b9aa288541087f7264a1b4f3f5e\" tg-width=\"1242\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><span>*Source From Tiger Trade, EST 08:10</span></p><p>The U.S. central bank is not expected to change its ultra-easy monetary policies, with thedecisiondue at 2 PM ET (1900 GMT). A lot of the focus will be comments from Chairman Jerome Powell, who has been consistent of late in indicating that policymakers won't be withdrawing support anytime soon.</p><p>Also of interest will be a speech by PresidentJoe Bidenbefore a joint session of Congress, where he is expected to call on U.S. policymakers to pass a $1.8 trillion package aimed toward children and families and the tax increases needed to pay for it.</p><p><b><i>Take a look at some of the biggest movers in the premarket:</i></b></p><p>Alphabet(GOOGL) – Alphabet reported record profit for the second consecutive quarter, earnings of $26.29 per share compared to a consensus estimate of $15.82 a share. Revenue beat forecasts, and the Google parent also announced a $50 billion share buyback. Shares jumped 5.1% premarket.</p><p>Spotify(SPOT) – The music streaming service logged a smaller-than-expected loss for its latest quarter, as well as beating revenue estimates and reporting a 24% increase in monthly active users. Its projected range for the current quarter's operating loss falls largely below analyst forecasts, however, and the shares skidded 7.8% in the premarket.</p><p>Pinterest(PINS) – Pinterest shares tanked 11.9% in the premarket, despite beating estimates on both the top and bottom lines for its latest quarter. Investors are focusing on a slowdown in user growth for the image-sharing company.</p><p>Shopify(SHOP) – The e-commerce platform provider’s stock rallied 5.5% in the premarket after reporting better-than-expected earnings and revenue for its latest quarter. Shopify continues to benefit from the boom in online shopping.</p><p>Boeing(BA) – Boeinglost $1.53 per share, compared to a consensus forecast for a loss of $1.15 per share. Revenue was better than expected, although the jet maker said the global pandemic continues to challenge the overall market environment. Boeing fell 1.2% in premarket trading.</p><p>Stanley Black & Decker(SWK) – The tool company beat estimates on the top and bottom lines for its latest quarter. The company also raised its fiscal year forecast and boosted its stock buyback plans by 20 million shares. Stanley Black & Decker saw particularly strong growth for tools and storage products.</p><p>Humana(HUM) – The health insurer earned $7.67 per share for its latest quarter, better than the $7.08 a share consensus estimate. Revenue beat forecasts as well, helped by strength in sales of its Medicare Advantage plans.</p><p>General Dynamics(GD) – The defense contractor’s shares added 2.2% in premarket action after it beat top and bottom line estimates for its latest quarter, helped by strength in its aerospace unit.</p><p>Garmin(GRMN) – Garmin earned $1.18 per share for the first quarter, beating the 89 cents a share consensus estimates. Revenue exceeded estimates by a wide margin amid double-digit growth for its fitness, outdoor, marine and auto segments.</p><p>Brinker International(EAT) – The parent of Chili’s and other restaurant chains missed estimates on the top and bottom lines for its latest quarter, but it gave a better-than-expected outlook. Shares rose 2.7% premarket.</p><p>Starbucks(SBUX) – Starbucks beat estimates by 9 cents a share, with quarterly earnings of 62 cents per share. Revenue came in short of forecasts, however, due to weak international sales. The coffee chain said U.S. sales have recovered to pre-pandemic levels. Starbucks shares slid 1.6% in premarket trading.</p><p>Microsoft(MSFT) – Microsoft fell 2.5% in the premarket despite earning $1.95 per share for its latest quarter, beating the $1.78 a share consensus estimate. Revenue came in above forecasts as well, boosted by an expanding presence in cloud computing and business services.</p><p>Mondelez(MDLZ) – Mondelez came in 8 cents a share above estimates, with quarterly profit of 77 cents per share. The snack maker’s revenue also came in above Wall Street projections. Mondelez continues to benefit from consumers stocking up on snacks amid the pandemic, especially in international markets where lockdowns are still prevalent. Mondelez shares added 2.5% in premarket action.</p><p>Visa(V) – Visa reported quarterly profit of $1.38 per share, 11 cents a share above estimates. The payment network operator also posted better-than-expected revenue, boosted by the ongoing surge in online shopping. Shares gained 1.6% in premarket action.</p><p>Sony(SONY) – Sony reported better-than-expected profit and revenue for its latest quarter, driven by an ongoing jump in gaming demand as well as the popularity of the PlayStation 5 gaming console. Sony gained 3.6% in premarket trading.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1137925814","content_text":"U.S. stock futures fell across the board Wednesday, the Dow Futures fell 0.26%,Nasdaq 100 Futures fell 0.23%,S&P 500 Futuresfell 0.03%.As investors digest earnings from mega-cap tech companies ahead of the latest Federal Reserve meeting and a key speech from President Joe Biden.*Source From Tiger Trade, EST 08:10The U.S. central bank is not expected to change its ultra-easy monetary policies, with thedecisiondue at 2 PM ET (1900 GMT). A lot of the focus will be comments from Chairman Jerome Powell, who has been consistent of late in indicating that policymakers won't be withdrawing support anytime soon.Also of interest will be a speech by PresidentJoe Bidenbefore a joint session of Congress, where he is expected to call on U.S. policymakers to pass a $1.8 trillion package aimed toward children and families and the tax increases needed to pay for it.Take a look at some of the biggest movers in the premarket:Alphabet(GOOGL) – Alphabet reported record profit for the second consecutive quarter, earnings of $26.29 per share compared to a consensus estimate of $15.82 a share. Revenue beat forecasts, and the Google parent also announced a $50 billion share buyback. Shares jumped 5.1% premarket.Spotify(SPOT) – The music streaming service logged a smaller-than-expected loss for its latest quarter, as well as beating revenue estimates and reporting a 24% increase in monthly active users. Its projected range for the current quarter's operating loss falls largely below analyst forecasts, however, and the shares skidded 7.8% in the premarket.Pinterest(PINS) – Pinterest shares tanked 11.9% in the premarket, despite beating estimates on both the top and bottom lines for its latest quarter. Investors are focusing on a slowdown in user growth for the image-sharing company.Shopify(SHOP) – The e-commerce platform provider’s stock rallied 5.5% in the premarket after reporting better-than-expected earnings and revenue for its latest quarter. Shopify continues to benefit from the boom in online shopping.Boeing(BA) – Boeinglost $1.53 per share, compared to a consensus forecast for a loss of $1.15 per share. Revenue was better than expected, although the jet maker said the global pandemic continues to challenge the overall market environment. Boeing fell 1.2% in premarket trading.Stanley Black & Decker(SWK) – The tool company beat estimates on the top and bottom lines for its latest quarter. The company also raised its fiscal year forecast and boosted its stock buyback plans by 20 million shares. Stanley Black & Decker saw particularly strong growth for tools and storage products.Humana(HUM) – The health insurer earned $7.67 per share for its latest quarter, better than the $7.08 a share consensus estimate. Revenue beat forecasts as well, helped by strength in sales of its Medicare Advantage plans.General Dynamics(GD) – The defense contractor’s shares added 2.2% in premarket action after it beat top and bottom line estimates for its latest quarter, helped by strength in its aerospace unit.Garmin(GRMN) – Garmin earned $1.18 per share for the first quarter, beating the 89 cents a share consensus estimates. Revenue exceeded estimates by a wide margin amid double-digit growth for its fitness, outdoor, marine and auto segments.Brinker International(EAT) – The parent of Chili’s and other restaurant chains missed estimates on the top and bottom lines for its latest quarter, but it gave a better-than-expected outlook. Shares rose 2.7% premarket.Starbucks(SBUX) – Starbucks beat estimates by 9 cents a share, with quarterly earnings of 62 cents per share. Revenue came in short of forecasts, however, due to weak international sales. The coffee chain said U.S. sales have recovered to pre-pandemic levels. Starbucks shares slid 1.6% in premarket trading.Microsoft(MSFT) – Microsoft fell 2.5% in the premarket despite earning $1.95 per share for its latest quarter, beating the $1.78 a share consensus estimate. Revenue came in above forecasts as well, boosted by an expanding presence in cloud computing and business services.Mondelez(MDLZ) – Mondelez came in 8 cents a share above estimates, with quarterly profit of 77 cents per share. The snack maker’s revenue also came in above Wall Street projections. Mondelez continues to benefit from consumers stocking up on snacks amid the pandemic, especially in international markets where lockdowns are still prevalent. Mondelez shares added 2.5% in premarket action.Visa(V) – Visa reported quarterly profit of $1.38 per share, 11 cents a share above estimates. The payment network operator also posted better-than-expected revenue, boosted by the ongoing surge in online shopping. Shares gained 1.6% in premarket action.Sony(SONY) – Sony reported better-than-expected profit and revenue for its latest quarter, driven by an ongoing jump in gaming demand as well as the popularity of the PlayStation 5 gaming console. Sony gained 3.6% in premarket trading.","news_type":1},"isVote":1,"tweetType":1,"viewCount":410,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":363769057,"gmtCreate":1614173519879,"gmtModify":1634550882926,"author":{"id":"3576363004948542","authorId":"3576363004948542","authorIdStr":"3576363004948542","name":"Bigboss51","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"[财迷] ","listText":"[财迷] ","text":"[财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/363769057","repostId":"1115367460","repostType":4,"repost":{"id":"1115367460","pubTimestamp":1614137283,"share":"https://www.laohu8.com/m/news/1115367460?lang=&edition=full","pubTime":"2021-02-24 11:28","market":"us","language":"en","title":"Selecting Your Chinese NEV Stock: An Ultimate Guide To NIO, XPeng, And Li Auto","url":"https://stock-news.laohu8.com/highlight/detail?id=1115367460","media":"seekingalpha","summary":"Summary\n\nNIO, XPeng, and Li Auto share similar business development trajectories in the Chinese auto","content":"<p><b>Summary</b></p>\n<ul>\n <li>NIO, XPeng, and Li Auto share similar business development trajectories in the Chinese auto market.</li>\n <li>Their management teams are from divergent backgrounds and the companies prefer different types of talents.</li>\n <li>Both top Chinese capital managers and local governments support these EV pioneers.</li>\n <li>NIO is the absolute sales leader in the segment, while XPeng's NGP has the best features of autonomous driving.</li>\n <li>We remain bullish on NIO and XPeng in 2021, keeping our targets at USD 62 and USD 72 respectively.</li>\n</ul>\n<p>The electric vehicles (\"EVs\") market was under the spotlight in 2020. Benefiting from the rocketing value of Tesla (TSLA), Elon Musk became the richest person in the world. Meanwhile, a few EV startups, including XPeng (XPEV) and Li Auto (LI) went public, attracting diverse investors' attention. Their compatriot NIO (NIO), which went public in 2018, saw its stock surge by 1,110%. While some investors place bold bets on these companies, increasing the growing avalanche of hype, some believe these stocks are not worth investing in, as their business fundamentals and current market caps are not seen to match.</p>\n<p>To enhance the possibility of an objective view of the space, this article provides an in-depth comparison of Chinese EV pioneers - NIO, XPeng and Li Auto - across several essential dimensions. A combination of comprehensive business research and technology analysis allows us to tailor an actionable message for investors with different styles and angles regarding these companies. It is a long, data-heavy read for those willing to learn as much as possible about the trio.</p>\n<p><b>Core management</b></p>\n<p>Like many other inspiring startup stories, EV brands face a long process before they can truly succeed. Persistence, creativity and agile thinking are all indispensable. Another key element is the makeup of a company's core team, where compatible, complementary mindsets are fundamental to success. We will start the article by introducing the three management teams and how their backgrounds have been affecting the companies' strategies.</p>\n<p><img src=\"https://static.tigerbbs.com/283247e74e0caa4d46f1c454e05b15ce\" tg-width=\"1280\" tg-height=\"1276\" referrerpolicy=\"no-referrer\"></p>\n<p><img src=\"https://static.tigerbbs.com/a0eb9fcd6925222b8f46b5422a29a616\" tg-width=\"1280\" tg-height=\"529\" referrerpolicy=\"no-referrer\"></p>\n<p><b>NIO</b>'s management team was one of the earliest groups generating ideas for manufacturing NEVs in China. In the beginning phase, the company employed a number of talents who later moved on with XPeng and Li Auto. These include Li Auto's founder, who used to be a director at NextEV (NIO's original name). Moreover, to some extent, NIO is weighted towards management with finance backgrounds. The crew has abundant connections with the Chinese multinational technology conglomerates like Tencent, Xiaomi,JD.comand the Hefei government. Besides, the board has an outstanding spirit of surviving in adversity. For instance, NIO had some scandals like car safety problems, large layoffs and cash drain. But it was still revived in 2020 with consistent stellar car sales.</p>\n<p><b>XPeng</b>'s management has years of experience in the automobile industry. Most of the team members are from GAC, a top carmaker in China. Even though XPeng has sold fewer cars than NIO and Li Auto, with some bad press around their safety record, their cars do not actually have any severe safety problems - only a few design flaws grumbled about by buyers. For example, XPeng P7's trunk was once called not user-friendly and hard to open; another occasion made the company recall tens of thousands of the G3 units.</p>\n<p>In addition, some of XPeng's other core team members are from UCweb, another company founded earlier by XPeng's founder Mr. Xiaopeng He. Now a subsidiary of Alibaba (BABA), this corporation designs the most popular mobile browsers in China and Indonesia. With assistance from field experts, XPeng designs well-functioning software and in-car entertainment solutions. Recently, the management team has started to connect with a young generation who are willing to learn quickly. With a new marketing focus, XPeng has replicated NIO's strategies by branding itself through developing online communities and holding various activities with its stakeholders.</p>\n<p><b>Li Auto</b>'s management team primarily consists of private equity partners and staff led by Li Xiang. This team is less experienced in car production, but they are capable of delivering high-quality products - as proved by Li ONE's sales momentum in 2020. The founder of Li Auto and Autohome, a major online forum for automobile consumers in China, Mr. Li leads a group of professionals focusing on a single EREV (extended-range electric vehicle) model. With less focus on R&D and vehicle design, this team doesn't seem to be as proficient as the top execs at NIO and XPeng.</p>\n<p><b>Recruiting layouts and strategies</b></p>\n<p>By October 2020,<b>NIO</b>'s employee number had reached 7,194, of which 36% were R&D staff. Even if NIO is hiring fewer R&D people than XPeng, it, on average, pays the most competitive salary. Besides, NIO has an immense cohort of salespeople, who take up the largest share in the company's headcount.</p>\n<p><b>XPeng</b>appears to be more tech-oriented, focusing on R&D. The company is less concerned on the sales and marketing, with more weight on the manufacturing, administration and general management divisions.</p>\n<p><b>Li Auto</b>, as per its employee sourcing strategy, prioritizes cost-efficiency with less spending on R&D and sales. However, it is currently the most active among the three in hiring sales personnel.</p>\n<p><b>Brand ethos and corporate vision</b></p>\n<p><b>NIO</b>'s motto is 'shaping a joyful lifestyle through selling premium smart electric vehicles.' Apart from their high-end SUVs, NIO differentiates itself from its competitors by highlighting customer services.</p>\n<p>Their 'worry-free' service permeates into small details. For instance, the company will offer free coffee to car owners while they are swapping batteries. Consumers tend to have a highly satisfying shopping experience, with door-to-door services and other leisure activities provided by NIO. These enjoyable experiences have boosted car sales and increased user stickiness in the NIO community.</p>\n<p>This leads to NIO's premium market position instead of lowering prices to obtain favors from its consumers. With a well-structured strategy, they have no incentive to change the pricing model. The company is also very likely to apply a similar business model in the European and other global markets it plans to expand to.</p>\n<p><b>XPeng</b>'s perspective concentrates on another popular type of business model. The company provides tailored service to China's middle-class tech-savvy consumers. This group wants to have smart EVs with the latest technology. It is consistent with the story in which a veteran engineer-CEO is leading lots of engineers doing R&D. XPeng is known as the 'bravest' player in the industry striving for innovation-based growth.</p>\n<p>Taking a look at the EV blueprint, the prototype of<b>Li Auto</b>'s Li ONE is to solve issues for most middle-class families. This principle shows management's interpretation of the EV value proposition. As the CEO, Li Xiang can present a highly satisfying product in Autohome - he can also make acceptable EVs for consumers with a 7-seat model while having fewer worries about driving range. Li ONE's EREV model should boost the company's short-term growth as a transitional model. From this aspect, it will probably need to unveil another pure EV, which may pose a challenge in the future.</p>\n<p><b>The stories behind</b></p>\n<p><img src=\"https://static.tigerbbs.com/b66fa1a8fb48ed61505984de84c317e6\" tg-width=\"1280\" tg-height=\"1175\" referrerpolicy=\"no-referrer\"></p>\n<p>As the nominal leader in the Chinese EV race,<b>NIO</b>set off fast from its inception in 2014 and subsequently scrambled along at a steady pace. The company received funding regularly from 2015 to 2020. In total, NIO has four car models and three of those have been massively delivered. The company is supported solidly by many 'best-in-China' corporate players like Tencent, which invested in NIO twice in 2017. Other big tech players, including Xiaomi andJD.com, are also among its backers.</p>\n<p>Besides, the Hefei local government has made every effort to be an important pillar of NIO's success. They provide resources and funding support for the long-term growth of NIO in Hefei. As a return, NIO has to cooperate tightly with other local corporations, including building headquarters in the city. Deutsche Bank's analyst Edison Yubelievesthat it is a favorabledealfor NIO as the government didn't ask for much stake from the company. The relationship between the two parties is further improved by the intention of the Hefei government to build a local EV supply chain. Last but not least, NIO's chose Hefei-based JAC Motors to support its manufacturing. Now they are preparing to build the second plant.</p>\n<p><b>XPeng</b>started showing rather outstanding results from 2019. Previously, it acquired capital from investors like Alibaba and the Matrix Partners. To produce cars, in 2017, it has selected Haima Motors for outsourcing. 2019 was important for XPeng: the first model (G3) was launched and first delivered in that year. Due to a slack NEV market, the car didn't enjoy great success right away.</p>\n<p>XPeng completed an IPO on the NYSE and launched a self-built CNY 6 billion plant in Zhaoqing in 2020. Alternatively, the company received CNY 4 billion funding from the Guangzhou government in September 2020 to build a smart EV manufacturing base in Guangzhou by the end of 2022. Like the Hefei government, the Guangzhou government cares more about traction on local employment and synergy effects in the supply chain instead of focusing on the financial benefits. XPeng P7, the firm's second model, became a relative success, compared to G3. At the moment, XPeng is preparing a rollout of its third model.</p>\n<p>Compared with NIO and XPeng,<b>Li Auto</b>seems to be a low-profile company, focusing on a single EREV model and growing its production capacity steadily. The company has been pacing steadily, rolling out Li ONE in 2018. They have also received capital support from Meituan, which is the most important investor apart from Li Xiang himself. Meituan and its founder, Wang Xing, led Li Auto's three rounds of funding, as well as its USD 1.1 billion IPO. Li Auto recalled thousands of cars in November 2020 but eventually solved its technical problems. Besides this, the company also chose to build a plant by itself in Changzhou after acquiring manufacturing capacity through the purchase of Lifan Group.</p>\n<p><b>Product strategies</b></p>\n<p><img src=\"https://static.tigerbbs.com/de00a570a3eee363767d56a415314a18\" tg-width=\"1280\" tg-height=\"1438\" referrerpolicy=\"no-referrer\"></p>\n<p><b>NIO</b>'s EVs have an advantage known as the 'integrated design' and can be easily recognized. The company focuses on the sport utility vehicles market, the largest passenger car market segment in China. The company's car portfolio consists of a middle SUV ES6, large SUV ES8, and sloping rear SUV EC6 tailored to young individuals. Currently, the management team is working on their first sedan ET7 equipped with some new features. Besides, unlike Tesla's simple interior design, NIO wants to offer buyers more options on selections of air suspension, Brembo brake pad, Nappa upholstery, seat heating, and more. Finally, NIO car owners can enjoy unique charging experience, battery swap and customer services. These services make NIO stand out among EV makers in China and symbolize the company as a high-end brand.</p>\n<p><b>XPeng</b>has drawn to a different game, aiming to evolve car models fastly. The company's first car G3 is an ordinary model EV with no staggering features. But the company refreshed people's minds after launching the sports sedan P7 in April 2020. With a stylish exterior and tech features for automatic parking, the model also has in-car voice recognition and car light shows, karaoke… On the other hand, P7 doesn't have top-notch hardware and interior like NIO but is still acceptable especially compared with automobiles in the same price class. Due to the P7's success, the management team transformed the model into several versions, including the performance model, the long-range model reaching 706 km, and the most recent one with gullwing doors. The company is expected to launch and start delivering a new sedan in Q4 2021.</p>\n<p><b>Li Auto</b>'s ONE is the only product scheduled for 2022. With a limited model variety, the company tries to meet the needs of a diverse group. It has a non-experimental design, 6/7 seats, and power that achieves 800 km driving range with 40.5 kWh battery and gas power supply. This model also provides splendid entertainment experience through four in-car screens. One key feature is its EREV model, a non-pure EV that can drive only 180 km when only using the battery for power. Li Auto doesn't have any EV infrastructures like supercharging points or swap stations, which tends to misguide people thinking that Li Auto is not really an EV maker.</p>\n<p><img src=\"https://static.tigerbbs.com/3ea1e9124235a5083b00740aef7457f6\" tg-width=\"1280\" tg-height=\"1283\" referrerpolicy=\"no-referrer\"></p>\n<p>More comprehensively, according to Autohome, NIO's cars are versatile, performing better than their peers generally. For example, ES6 performs better than 90% of cars in the peer group on power, range, control and hardware. Its safety and space exceed 82% and 89% of cars in the segment. Li Auto and XPeng's models have some 'short stave' space like G3 and P7, and the range of Li ONE.</p>\n<p><b>Core technology</b></p>\n<p><img src=\"https://static.tigerbbs.com/e232325d35fede4cefefbab4285213d2\" tg-width=\"1280\" tg-height=\"1425\" referrerpolicy=\"no-referrer\"></p>\n<p>In terms of software and self-driving systems, NIO and XPeng are more advanced than Li Auto. Because of its higher production cost, NIO's basic bundle includes several features like Collision Warning, Automatic Emergency Braking and Blind Spot Detection (BSD). There are advanced features like Navigation On Pilot (NOP) and automatic parking that normally require additional spending. XPeng P7 also provides more options with buyers on the pilot features. But most of them involve additional charges. In some important features like parking and NBS, NGP (Navigation Guided Pilot) performs better than NIO's NOP. Besides, Li Auto only offers a limited pilot driving experience.</p>\n<p><b>Marketing</b></p>\n<p>Due to NEVs' technology traits, the marketing strategy of most vendors is somewhat similar to that of those selling electronic devices, with a high standard of offline and online retailing and multi-channel systems. This is quite different from traditional car sales and venue-dealerships like 4S stores in China.</p>\n<p><img src=\"https://static.tigerbbs.com/1e095abad28e83b5f44ce2c902697c9d\" tg-width=\"1280\" tg-height=\"844\" referrerpolicy=\"no-referrer\"></p>\n<p>There are advantages and disadvantages to the new retailing. But overall it is favored by the companies.</p>\n<p><b>Pros:</b></p>\n<ul>\n <li><p>The product is accessible to consumers within a certain commuting distance.</p></li>\n <li><p>The stores are exposed to more traffic than remote stores.</p></li>\n <li><p>Lower and nimbler customer acquisition cost.</p></li>\n <li><p>The cost for stores targeting potential customers is more affordable than before.</p></li>\n <li><p>Online and offline activities make it effective for brands to maintain relationships with clients.</p></li>\n</ul>\n<p><b>Cons:</b></p>\n<ul>\n <li><p>The costs of exhibiting cars in the downtown area are getting higher as more models emerge. The selling and marketing strategies are easy to mimic.</p></li>\n <li><p>It's difficult to manage a more complicated selling and marketing process.</p></li>\n</ul>\n<p>By entering the NEV space with higher costs, NIO excels in design, site selection, selling, and after-market service. NIO uses a new retailing network covering online and offline, including NIO Houses, NIO Spaces and mobile applications, such as NIO Day and NIO Power. Due to weaker budgeting performances, XPeng and Li Auto also adopted a similar approach, but, at the moment, can't compete with NIO in many aspects, including branding, after-market service and location selection.</p>\n<p><b>At a glance</b></p>\n<p>When it comes to growth stocks, the ability to innovate is a crucial argument in the conversation. Resulting from the multidimensional comparison of the three Chinese EV makers, we can easily state that Li Auto is a laggard in this race (we have also explained this assertion inanother Seeking Alpha article). While holding its shares might be a decent short-term speculation strategy, the company is not likely to deliver significant value in the long term, when the electric vehicle sector enters the stage of maturity in China.</p>\n<p>NIO and XPeng, on the other hand, appear to be well-equipped, versatile automakers. We keep our price targets atUSD 62 for the formerand atUSD 72 for the latter.</p>","source":"seekingalpha","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>Selecting Your Chinese NEV Stock: An Ultimate Guide To NIO, XPeng, And Li Auto</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\">\nSelecting Your Chinese NEV Stock: An Ultimate Guide To NIO, XPeng, And Li Auto\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-24 11:28 GMT+8 <a href=https://seekingalpha.com/article/4408221-chinese-nev-stock-ultimate-guide-nio-xpeng-li-auto><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nNIO, XPeng, and Li Auto share similar business development trajectories in the Chinese auto market.\nTheir management teams are from divergent backgrounds and the companies prefer different ...</p>\n\n<a href=\"https://seekingalpha.com/article/4408221-chinese-nev-stock-ultimate-guide-nio-xpeng-li-auto\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LI":"理想汽车","NIO":"蔚来","XPEV":"小鹏汽车"},"source_url":"https://seekingalpha.com/article/4408221-chinese-nev-stock-ultimate-guide-nio-xpeng-li-auto","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1115367460","content_text":"Summary\n\nNIO, XPeng, and Li Auto share similar business development trajectories in the Chinese auto market.\nTheir management teams are from divergent backgrounds and the companies prefer different types of talents.\nBoth top Chinese capital managers and local governments support these EV pioneers.\nNIO is the absolute sales leader in the segment, while XPeng's NGP has the best features of autonomous driving.\nWe remain bullish on NIO and XPeng in 2021, keeping our targets at USD 62 and USD 72 respectively.\n\nThe electric vehicles (\"EVs\") market was under the spotlight in 2020. Benefiting from the rocketing value of Tesla (TSLA), Elon Musk became the richest person in the world. Meanwhile, a few EV startups, including XPeng (XPEV) and Li Auto (LI) went public, attracting diverse investors' attention. Their compatriot NIO (NIO), which went public in 2018, saw its stock surge by 1,110%. While some investors place bold bets on these companies, increasing the growing avalanche of hype, some believe these stocks are not worth investing in, as their business fundamentals and current market caps are not seen to match.\nTo enhance the possibility of an objective view of the space, this article provides an in-depth comparison of Chinese EV pioneers - NIO, XPeng and Li Auto - across several essential dimensions. A combination of comprehensive business research and technology analysis allows us to tailor an actionable message for investors with different styles and angles regarding these companies. It is a long, data-heavy read for those willing to learn as much as possible about the trio.\nCore management\nLike many other inspiring startup stories, EV brands face a long process before they can truly succeed. Persistence, creativity and agile thinking are all indispensable. Another key element is the makeup of a company's core team, where compatible, complementary mindsets are fundamental to success. We will start the article by introducing the three management teams and how their backgrounds have been affecting the companies' strategies.\n\n\nNIO's management team was one of the earliest groups generating ideas for manufacturing NEVs in China. In the beginning phase, the company employed a number of talents who later moved on with XPeng and Li Auto. These include Li Auto's founder, who used to be a director at NextEV (NIO's original name). Moreover, to some extent, NIO is weighted towards management with finance backgrounds. The crew has abundant connections with the Chinese multinational technology conglomerates like Tencent, Xiaomi,JD.comand the Hefei government. Besides, the board has an outstanding spirit of surviving in adversity. For instance, NIO had some scandals like car safety problems, large layoffs and cash drain. But it was still revived in 2020 with consistent stellar car sales.\nXPeng's management has years of experience in the automobile industry. Most of the team members are from GAC, a top carmaker in China. Even though XPeng has sold fewer cars than NIO and Li Auto, with some bad press around their safety record, their cars do not actually have any severe safety problems - only a few design flaws grumbled about by buyers. For example, XPeng P7's trunk was once called not user-friendly and hard to open; another occasion made the company recall tens of thousands of the G3 units.\nIn addition, some of XPeng's other core team members are from UCweb, another company founded earlier by XPeng's founder Mr. Xiaopeng He. Now a subsidiary of Alibaba (BABA), this corporation designs the most popular mobile browsers in China and Indonesia. With assistance from field experts, XPeng designs well-functioning software and in-car entertainment solutions. Recently, the management team has started to connect with a young generation who are willing to learn quickly. With a new marketing focus, XPeng has replicated NIO's strategies by branding itself through developing online communities and holding various activities with its stakeholders.\nLi Auto's management team primarily consists of private equity partners and staff led by Li Xiang. This team is less experienced in car production, but they are capable of delivering high-quality products - as proved by Li ONE's sales momentum in 2020. The founder of Li Auto and Autohome, a major online forum for automobile consumers in China, Mr. Li leads a group of professionals focusing on a single EREV (extended-range electric vehicle) model. With less focus on R&D and vehicle design, this team doesn't seem to be as proficient as the top execs at NIO and XPeng.\nRecruiting layouts and strategies\nBy October 2020,NIO's employee number had reached 7,194, of which 36% were R&D staff. Even if NIO is hiring fewer R&D people than XPeng, it, on average, pays the most competitive salary. Besides, NIO has an immense cohort of salespeople, who take up the largest share in the company's headcount.\nXPengappears to be more tech-oriented, focusing on R&D. The company is less concerned on the sales and marketing, with more weight on the manufacturing, administration and general management divisions.\nLi Auto, as per its employee sourcing strategy, prioritizes cost-efficiency with less spending on R&D and sales. However, it is currently the most active among the three in hiring sales personnel.\nBrand ethos and corporate vision\nNIO's motto is 'shaping a joyful lifestyle through selling premium smart electric vehicles.' Apart from their high-end SUVs, NIO differentiates itself from its competitors by highlighting customer services.\nTheir 'worry-free' service permeates into small details. For instance, the company will offer free coffee to car owners while they are swapping batteries. Consumers tend to have a highly satisfying shopping experience, with door-to-door services and other leisure activities provided by NIO. These enjoyable experiences have boosted car sales and increased user stickiness in the NIO community.\nThis leads to NIO's premium market position instead of lowering prices to obtain favors from its consumers. With a well-structured strategy, they have no incentive to change the pricing model. The company is also very likely to apply a similar business model in the European and other global markets it plans to expand to.\nXPeng's perspective concentrates on another popular type of business model. The company provides tailored service to China's middle-class tech-savvy consumers. This group wants to have smart EVs with the latest technology. It is consistent with the story in which a veteran engineer-CEO is leading lots of engineers doing R&D. XPeng is known as the 'bravest' player in the industry striving for innovation-based growth.\nTaking a look at the EV blueprint, the prototype ofLi Auto's Li ONE is to solve issues for most middle-class families. This principle shows management's interpretation of the EV value proposition. As the CEO, Li Xiang can present a highly satisfying product in Autohome - he can also make acceptable EVs for consumers with a 7-seat model while having fewer worries about driving range. Li ONE's EREV model should boost the company's short-term growth as a transitional model. From this aspect, it will probably need to unveil another pure EV, which may pose a challenge in the future.\nThe stories behind\n\nAs the nominal leader in the Chinese EV race,NIOset off fast from its inception in 2014 and subsequently scrambled along at a steady pace. The company received funding regularly from 2015 to 2020. In total, NIO has four car models and three of those have been massively delivered. The company is supported solidly by many 'best-in-China' corporate players like Tencent, which invested in NIO twice in 2017. Other big tech players, including Xiaomi andJD.com, are also among its backers.\nBesides, the Hefei local government has made every effort to be an important pillar of NIO's success. They provide resources and funding support for the long-term growth of NIO in Hefei. As a return, NIO has to cooperate tightly with other local corporations, including building headquarters in the city. Deutsche Bank's analyst Edison Yubelievesthat it is a favorabledealfor NIO as the government didn't ask for much stake from the company. The relationship between the two parties is further improved by the intention of the Hefei government to build a local EV supply chain. Last but not least, NIO's chose Hefei-based JAC Motors to support its manufacturing. Now they are preparing to build the second plant.\nXPengstarted showing rather outstanding results from 2019. Previously, it acquired capital from investors like Alibaba and the Matrix Partners. To produce cars, in 2017, it has selected Haima Motors for outsourcing. 2019 was important for XPeng: the first model (G3) was launched and first delivered in that year. Due to a slack NEV market, the car didn't enjoy great success right away.\nXPeng completed an IPO on the NYSE and launched a self-built CNY 6 billion plant in Zhaoqing in 2020. Alternatively, the company received CNY 4 billion funding from the Guangzhou government in September 2020 to build a smart EV manufacturing base in Guangzhou by the end of 2022. Like the Hefei government, the Guangzhou government cares more about traction on local employment and synergy effects in the supply chain instead of focusing on the financial benefits. XPeng P7, the firm's second model, became a relative success, compared to G3. At the moment, XPeng is preparing a rollout of its third model.\nCompared with NIO and XPeng,Li Autoseems to be a low-profile company, focusing on a single EREV model and growing its production capacity steadily. The company has been pacing steadily, rolling out Li ONE in 2018. They have also received capital support from Meituan, which is the most important investor apart from Li Xiang himself. Meituan and its founder, Wang Xing, led Li Auto's three rounds of funding, as well as its USD 1.1 billion IPO. Li Auto recalled thousands of cars in November 2020 but eventually solved its technical problems. Besides this, the company also chose to build a plant by itself in Changzhou after acquiring manufacturing capacity through the purchase of Lifan Group.\nProduct strategies\n\nNIO's EVs have an advantage known as the 'integrated design' and can be easily recognized. The company focuses on the sport utility vehicles market, the largest passenger car market segment in China. The company's car portfolio consists of a middle SUV ES6, large SUV ES8, and sloping rear SUV EC6 tailored to young individuals. Currently, the management team is working on their first sedan ET7 equipped with some new features. Besides, unlike Tesla's simple interior design, NIO wants to offer buyers more options on selections of air suspension, Brembo brake pad, Nappa upholstery, seat heating, and more. Finally, NIO car owners can enjoy unique charging experience, battery swap and customer services. These services make NIO stand out among EV makers in China and symbolize the company as a high-end brand.\nXPenghas drawn to a different game, aiming to evolve car models fastly. The company's first car G3 is an ordinary model EV with no staggering features. But the company refreshed people's minds after launching the sports sedan P7 in April 2020. With a stylish exterior and tech features for automatic parking, the model also has in-car voice recognition and car light shows, karaoke… On the other hand, P7 doesn't have top-notch hardware and interior like NIO but is still acceptable especially compared with automobiles in the same price class. Due to the P7's success, the management team transformed the model into several versions, including the performance model, the long-range model reaching 706 km, and the most recent one with gullwing doors. The company is expected to launch and start delivering a new sedan in Q4 2021.\nLi Auto's ONE is the only product scheduled for 2022. With a limited model variety, the company tries to meet the needs of a diverse group. It has a non-experimental design, 6/7 seats, and power that achieves 800 km driving range with 40.5 kWh battery and gas power supply. This model also provides splendid entertainment experience through four in-car screens. One key feature is its EREV model, a non-pure EV that can drive only 180 km when only using the battery for power. Li Auto doesn't have any EV infrastructures like supercharging points or swap stations, which tends to misguide people thinking that Li Auto is not really an EV maker.\n\nMore comprehensively, according to Autohome, NIO's cars are versatile, performing better than their peers generally. For example, ES6 performs better than 90% of cars in the peer group on power, range, control and hardware. Its safety and space exceed 82% and 89% of cars in the segment. Li Auto and XPeng's models have some 'short stave' space like G3 and P7, and the range of Li ONE.\nCore technology\n\nIn terms of software and self-driving systems, NIO and XPeng are more advanced than Li Auto. Because of its higher production cost, NIO's basic bundle includes several features like Collision Warning, Automatic Emergency Braking and Blind Spot Detection (BSD). There are advanced features like Navigation On Pilot (NOP) and automatic parking that normally require additional spending. XPeng P7 also provides more options with buyers on the pilot features. But most of them involve additional charges. In some important features like parking and NBS, NGP (Navigation Guided Pilot) performs better than NIO's NOP. Besides, Li Auto only offers a limited pilot driving experience.\nMarketing\nDue to NEVs' technology traits, the marketing strategy of most vendors is somewhat similar to that of those selling electronic devices, with a high standard of offline and online retailing and multi-channel systems. This is quite different from traditional car sales and venue-dealerships like 4S stores in China.\n\nThere are advantages and disadvantages to the new retailing. But overall it is favored by the companies.\nPros:\n\nThe product is accessible to consumers within a certain commuting distance.\nThe stores are exposed to more traffic than remote stores.\nLower and nimbler customer acquisition cost.\nThe cost for stores targeting potential customers is more affordable than before.\nOnline and offline activities make it effective for brands to maintain relationships with clients.\n\nCons:\n\nThe costs of exhibiting cars in the downtown area are getting higher as more models emerge. The selling and marketing strategies are easy to mimic.\nIt's difficult to manage a more complicated selling and marketing process.\n\nBy entering the NEV space with higher costs, NIO excels in design, site selection, selling, and after-market service. NIO uses a new retailing network covering online and offline, including NIO Houses, NIO Spaces and mobile applications, such as NIO Day and NIO Power. Due to weaker budgeting performances, XPeng and Li Auto also adopted a similar approach, but, at the moment, can't compete with NIO in many aspects, including branding, after-market service and location selection.\nAt a glance\nWhen it comes to growth stocks, the ability to innovate is a crucial argument in the conversation. Resulting from the multidimensional comparison of the three Chinese EV makers, we can easily state that Li Auto is a laggard in this race (we have also explained this assertion inanother Seeking Alpha article). While holding its shares might be a decent short-term speculation strategy, the company is not likely to deliver significant value in the long term, when the electric vehicle sector enters the stage of maturity in China.\nNIO and XPeng, on the other hand, appear to be well-equipped, versatile automakers. We keep our price targets atUSD 62 for the formerand atUSD 72 for the latter.","news_type":1},"isVote":1,"tweetType":1,"viewCount":750,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":824899372,"gmtCreate":1634297959738,"gmtModify":1634297959914,"author":{"id":"3576363004948542","authorId":"3576363004948542","authorIdStr":"3576363004948542","name":"Bigboss51","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":" Time to buy more ","listText":" Time to buy more ","text":"Time to buy more","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/824899372","repostId":"1169529009","repostType":2,"repost":{"id":"1169529009","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":1632904196,"share":"https://www.laohu8.com/m/news/1169529009?lang=&edition=full","pubTime":"2021-09-29 16:29","market":"us","language":"en","title":"86Research initiates coverage on TIGR with a BUY rating","url":"https://stock-news.laohu8.com/highlight/detail?id=1169529009","media":"Tiger Newspress","summary":"• 86Research initiates coverage on TIGR with a BUY rating. Growing demand for cross-border stock inv","content":"<p>• 86Research initiates coverage on TIGR with a BUY rating. Growing demand for cross-border stock investment in China and rising internet-based retail brokerage services globally together support strong industry fundamentals. TIGR, an early mover in the internet brokerage sector, significantly outperforms traditional brokers by providing better services for retail investors. Their price target of US$21 per ADS implies 83% upside potential from the latest market close price, despite possible sector-widevolatilityinChineseADRs.</p>\n<p>• 86Research forecasts TIGR’s net revenues will reach US $668 mln in 2024, giving it a 4-yr CAGR of 51%. According to their projection, the number of customers with deposits on TIGR will reach 1.7 mln by the end of 2024. The total AUM and financing balance will exceed US$103 bln and US$5.5 bln, respectively. Trading volumes on TIGR are forecast to reach US$1,338 bln in 2024. 86Research expects the commission rate will remain largely flat. More derivatives trades will partially offset the negative impact from price competition. 86Research thinks the blended interest rate will decline due to the mix change of financing activities on the platform.</p>\n<p>• 86Research derives their US$21 price target based on a 20x 2024E P/E multiple and 13% 2-yr discount rate. The PT implies 13.8x/11.7x/8.4x 2021E/2022E/2023E forward P/B multiples, reflecting a premium to global peers. HK license approval, progress in international expansion and US self-clearing are the key catalysts in the near term, while regulatory and macro uncertainties are the main investment risks. 86Research recommends investors buy the stock on recent pullbacks which have resulted from weak market sentiment. 86’s View on TIGR: BUY; PT$21/ADS; A Rising China-Based Internet Brokerage Platform; Global Expansion To Drive Long-term Growth; Recent pullbacks create a buying opportunity.</p>\n<p>• 86Research is bullish on TIGR’s capability to continue to gain market share from traditional brokers. The strategic focus and operating efficiency of Internet companies give advantages to TIGR, such as lower pricing and better user experience in retail brokerage services. Moreover, TIGR provides more variety than most traditional brokers, enabling retail investors to trade securities in several markets in one app and one account.</p>\n<p>• Non-commission revenues are ramping up quickly. Interest income will keep growing as more consolidated account (CA) account users will adopt self-funded financing services provided by TIGR. Their analysis suggests that the net interest spread of the financing services for CA account users was much higher than the rate of financing service for fully disclosed (FD) account users. In addition, the business development in investment banking and wealth management services are expected to contribute meaningful revenues.</p>\n<p>• International expansion creates a new story. TIGR has ramped up its global expansion from 3Q20, mainly targeting Singapore and US markets. Singapore has more than 1 mln addressable individual investors, about half of the market size in HK. The US market has nearly 100 mln retail investors, with total assets of approximately $50 trillion. Although facing challenges in terms of culture, regulatory environment and competition, 86Research is positive that TIGR will capture more growth in its two promising markets.</p>\n<p>• TIGR’s stock price has been volatile. 86Research recommends investors buy on the dip. Recent stock market volatility will impact its financial performance but won‘t change the long-term growth story, in their view. The company continues to gain market share in retail brokerage services and develop non-commission businesses, such as margin financing, wealth management, order flows, etc.86Research is confident such growth can offset the cyclical impact from a long-term perspective.</p>\n<p>• HK license is a near-term catalyst. TIGR is expected to get a brokerage license in HK as soon as this year, which will enable it to run market campaigns and acquire users in the region. As a registered brokerage firm, TIGR can also build connections with banks to provide IPO subscriptions and financing services in Hong Kong and support the development of margin financing business.</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>86Research initiates coverage on TIGR with a BUY rating</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\">\n86Research initiates coverage on TIGR with a BUY rating\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\">2021-09-29 16:29</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>• 86Research initiates coverage on TIGR with a BUY rating. Growing demand for cross-border stock investment in China and rising internet-based retail brokerage services globally together support strong industry fundamentals. TIGR, an early mover in the internet brokerage sector, significantly outperforms traditional brokers by providing better services for retail investors. Their price target of US$21 per ADS implies 83% upside potential from the latest market close price, despite possible sector-widevolatilityinChineseADRs.</p>\n<p>• 86Research forecasts TIGR’s net revenues will reach US $668 mln in 2024, giving it a 4-yr CAGR of 51%. According to their projection, the number of customers with deposits on TIGR will reach 1.7 mln by the end of 2024. The total AUM and financing balance will exceed US$103 bln and US$5.5 bln, respectively. Trading volumes on TIGR are forecast to reach US$1,338 bln in 2024. 86Research expects the commission rate will remain largely flat. More derivatives trades will partially offset the negative impact from price competition. 86Research thinks the blended interest rate will decline due to the mix change of financing activities on the platform.</p>\n<p>• 86Research derives their US$21 price target based on a 20x 2024E P/E multiple and 13% 2-yr discount rate. The PT implies 13.8x/11.7x/8.4x 2021E/2022E/2023E forward P/B multiples, reflecting a premium to global peers. HK license approval, progress in international expansion and US self-clearing are the key catalysts in the near term, while regulatory and macro uncertainties are the main investment risks. 86Research recommends investors buy the stock on recent pullbacks which have resulted from weak market sentiment. 86’s View on TIGR: BUY; PT$21/ADS; A Rising China-Based Internet Brokerage Platform; Global Expansion To Drive Long-term Growth; Recent pullbacks create a buying opportunity.</p>\n<p>• 86Research is bullish on TIGR’s capability to continue to gain market share from traditional brokers. The strategic focus and operating efficiency of Internet companies give advantages to TIGR, such as lower pricing and better user experience in retail brokerage services. Moreover, TIGR provides more variety than most traditional brokers, enabling retail investors to trade securities in several markets in one app and one account.</p>\n<p>• Non-commission revenues are ramping up quickly. Interest income will keep growing as more consolidated account (CA) account users will adopt self-funded financing services provided by TIGR. Their analysis suggests that the net interest spread of the financing services for CA account users was much higher than the rate of financing service for fully disclosed (FD) account users. In addition, the business development in investment banking and wealth management services are expected to contribute meaningful revenues.</p>\n<p>• International expansion creates a new story. TIGR has ramped up its global expansion from 3Q20, mainly targeting Singapore and US markets. Singapore has more than 1 mln addressable individual investors, about half of the market size in HK. The US market has nearly 100 mln retail investors, with total assets of approximately $50 trillion. Although facing challenges in terms of culture, regulatory environment and competition, 86Research is positive that TIGR will capture more growth in its two promising markets.</p>\n<p>• TIGR’s stock price has been volatile. 86Research recommends investors buy on the dip. Recent stock market volatility will impact its financial performance but won‘t change the long-term growth story, in their view. The company continues to gain market share in retail brokerage services and develop non-commission businesses, such as margin financing, wealth management, order flows, etc.86Research is confident such growth can offset the cyclical impact from a long-term perspective.</p>\n<p>• HK license is a near-term catalyst. TIGR is expected to get a brokerage license in HK as soon as this year, which will enable it to run market campaigns and acquire users in the region. As a registered brokerage firm, TIGR can also build connections with banks to provide IPO subscriptions and financing services in Hong Kong and support the development of margin financing business.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TIGR":"老虎证券"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169529009","content_text":"• 86Research initiates coverage on TIGR with a BUY rating. Growing demand for cross-border stock investment in China and rising internet-based retail brokerage services globally together support strong industry fundamentals. TIGR, an early mover in the internet brokerage sector, significantly outperforms traditional brokers by providing better services for retail investors. Their price target of US$21 per ADS implies 83% upside potential from the latest market close price, despite possible sector-widevolatilityinChineseADRs.\n• 86Research forecasts TIGR’s net revenues will reach US $668 mln in 2024, giving it a 4-yr CAGR of 51%. According to their projection, the number of customers with deposits on TIGR will reach 1.7 mln by the end of 2024. The total AUM and financing balance will exceed US$103 bln and US$5.5 bln, respectively. Trading volumes on TIGR are forecast to reach US$1,338 bln in 2024. 86Research expects the commission rate will remain largely flat. More derivatives trades will partially offset the negative impact from price competition. 86Research thinks the blended interest rate will decline due to the mix change of financing activities on the platform.\n• 86Research derives their US$21 price target based on a 20x 2024E P/E multiple and 13% 2-yr discount rate. The PT implies 13.8x/11.7x/8.4x 2021E/2022E/2023E forward P/B multiples, reflecting a premium to global peers. HK license approval, progress in international expansion and US self-clearing are the key catalysts in the near term, while regulatory and macro uncertainties are the main investment risks. 86Research recommends investors buy the stock on recent pullbacks which have resulted from weak market sentiment. 86’s View on TIGR: BUY; PT$21/ADS; A Rising China-Based Internet Brokerage Platform; Global Expansion To Drive Long-term Growth; Recent pullbacks create a buying opportunity.\n• 86Research is bullish on TIGR’s capability to continue to gain market share from traditional brokers. The strategic focus and operating efficiency of Internet companies give advantages to TIGR, such as lower pricing and better user experience in retail brokerage services. Moreover, TIGR provides more variety than most traditional brokers, enabling retail investors to trade securities in several markets in one app and one account.\n• Non-commission revenues are ramping up quickly. Interest income will keep growing as more consolidated account (CA) account users will adopt self-funded financing services provided by TIGR. Their analysis suggests that the net interest spread of the financing services for CA account users was much higher than the rate of financing service for fully disclosed (FD) account users. In addition, the business development in investment banking and wealth management services are expected to contribute meaningful revenues.\n• International expansion creates a new story. TIGR has ramped up its global expansion from 3Q20, mainly targeting Singapore and US markets. Singapore has more than 1 mln addressable individual investors, about half of the market size in HK. The US market has nearly 100 mln retail investors, with total assets of approximately $50 trillion. Although facing challenges in terms of culture, regulatory environment and competition, 86Research is positive that TIGR will capture more growth in its two promising markets.\n• TIGR’s stock price has been volatile. 86Research recommends investors buy on the dip. Recent stock market volatility will impact its financial performance but won‘t change the long-term growth story, in their view. The company continues to gain market share in retail brokerage services and develop non-commission businesses, such as margin financing, wealth management, order flows, etc.86Research is confident such growth can offset the cyclical impact from a long-term perspective.\n• HK license is a near-term catalyst. TIGR is expected to get a brokerage license in HK as soon as this year, which will enable it to run market campaigns and acquire users in the region. As a registered brokerage firm, TIGR can also build connections with banks to provide IPO subscriptions and financing services in Hong Kong and support the development of margin financing business.","news_type":1},"isVote":1,"tweetType":1,"viewCount":473,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":344487935,"gmtCreate":1618431075027,"gmtModify":1634293019751,"author":{"id":"3576363004948542","authorId":"3576363004948542","authorIdStr":"3576363004948542","name":"Bigboss51","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Disappointed [呆住] ","listText":"Disappointed [呆住] ","text":"Disappointed [呆住]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/344487935","repostId":"1186838018","repostType":4,"repost":{"id":"1186838018","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":1618413882,"share":"https://www.laohu8.com/m/news/1186838018?lang=&edition=full","pubTime":"2021-04-14 23:24","market":"us","language":"en","title":"Electric vehicle stocks were down","url":"https://stock-news.laohu8.com/highlight/detail?id=1186838018","media":"Tiger Newspress","summary":"(April 14) Electric vehicle stocks were down. Shares of Nio was down 6.62% to $33.13 and Nio was 3.","content":"<p>(April 14) Electric vehicle stocks were down. Shares of Nio was down 6.62% to $33.13 and Nio was 3.14% lower.</p><p><img src=\"https://static.tigerbbs.com/d4dccabfcd5d058051278d972adbce18\" tg-width=\"294\" tg-height=\"166\" referrerpolicy=\"no-referrer\">Xpeng Motors launched the P5 on Wednesday, a sedan with new self-driving features. The P5 is equipped with so-called Lidar to aid Xpeng’s driverless system called XPILOT. Xpeng is hoping to close to gap with Tesla as well as race ahead of other rivals such as Nio and Li Auto.</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>Electric vehicle stocks were down</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\">\nElectric vehicle stocks were down\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\">2021-04-14 23:24</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(April 14) Electric vehicle stocks were down. Shares of Nio was down 6.62% to $33.13 and Nio was 3.14% lower.</p><p><img src=\"https://static.tigerbbs.com/d4dccabfcd5d058051278d972adbce18\" tg-width=\"294\" tg-height=\"166\" referrerpolicy=\"no-referrer\">Xpeng Motors launched the P5 on Wednesday, a sedan with new self-driving features. The P5 is equipped with so-called Lidar to aid Xpeng’s driverless system called XPILOT. Xpeng is hoping to close to gap with Tesla as well as race ahead of other rivals such as Nio and Li Auto.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来","XPEV":"小鹏汽车"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1186838018","content_text":"(April 14) Electric vehicle stocks were down. Shares of Nio was down 6.62% to $33.13 and Nio was 3.14% lower.Xpeng Motors launched the P5 on Wednesday, a sedan with new self-driving features. The P5 is equipped with so-called Lidar to aid Xpeng’s driverless system called XPILOT. Xpeng is hoping to close to gap with Tesla as well as race ahead of other rivals such as Nio and Li Auto.","news_type":1},"isVote":1,"tweetType":1,"viewCount":488,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}