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风中独行

风中独行

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IP属地：江西

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0勋章

2021-07-10

$京东物流(02618)$抱有很高的期望，结果亏本最多。真的是内卷造成的吗？

2021-06-26

$老虎证券(TIGR)$真的是活见鬼，一买就跌。

2021-07-15

$爱奇艺(IQ)$没子弹了

2021-07-03

$百世集团(BEST)$看看低股份公司的股票行情表现

2021-06-07

$小鹏汽车(XPEV)$落袋为安

2021-06-18

$新东方(EDU)$抄了两次底，居然还有10.78%的下跌，做人要有底线。

2021-06-25

$京东物流(02618)$除了等待别无他法。

2021-06-17

$新东方(EDU)$真想抄底

2021-07-15

与新东方比，还有涨的时候。

2021-07-12

$京东物流(02618)$京东物流何去何从？

2021-07-10

小鹏汽车，造车新势力！

2021-07-08

$京东物流(02618)$看你跌倒何时止[愤怒]

2021-06-28

$Workhorse Group, Inc.(WKHS)$落袋为安。

2021-06-19

$新东方(EDU)$盘前涨开市跌，忙了半天白瞎。

2021-06-12

[强] [强] [强] [强]

巫天华：身处黄金时代，老虎证券致力成为世界一流科技券商

2021-05-20

股市波诡云谲，令人捉摸不透。

抱歉，原内容已删除

2021-05-19

警惕通胀给股市带来的震荡！

外盘头条：美银调查显示通胀成为市场最大尾部风险

2021-07-16

小鹏汽车好样的，虽说只是小涨。

2021-07-13

吉利汽车买不起。

2021-07-01

$小米集团-W(01810)$小米最近不愠不火！

去老虎APP查看更多动态

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1Q23, TIGR enjoyed sequential growth in new paying clien","content":"<ul><li><p>Benefitting from US stock market rebound in 1Q23, TIGR enjoyed sequential growth in new paying clients with lower CAC.</p></li><li><p>China regulators clarified guideline regarding the definition of onshore investors, suggesting regulatory overhang close to the end.</p></li><li><p>Reiterate HOLD and cut TP to US$3.26 (based on 17.0x 2023E P/E).</p></li></ul><p><em>Source: China Renaissance</em></p><p><strong>Benefit from US stock market rebound in 1Q23.</strong> UP Fintech (TIGR) acquired 30,392 new paying clients in 1Q23, up 11.2% QoQ, with Singapore contributing 60%, US 20%, AUS/NZ 15%, and Hong Kong 5%. As of end-1Q23, TIGR had around 48% of paying clients from Singapore with average client assets of US$15,000, up from US$13,000 in 4Q22. CAC was down 37% QoQ to US$171, mainly helped by more moderate marketing campaign amid volatile market. Execution and clearing expenses as a percentage of commission income declined to 9.6% in 1Q23 (vs 16.1% in 4Q22) helped by HK stocks’ self-clearing. TIGR reiterates its 2023 target of 100,000 new paying clients with CAC increased to US$300 in 2Q23 amid increasing marketing campaign in Hong Kong. In 2Q23 QTD, TIGR sees its trading volume, client assets and new paying clients down QoQ, with a flattish MFSL balance, following the weaker market sentiment since 1Q23.</p><p><strong>China regulatory uncertainties should be close to the end.</strong> Management noted that China regulators clarified some guidelines lately: 1) onshore investors who live or work overseas are allowed to open new accounts with TIGR, 2) onshore investors who prove to have an offshore brokerage account will be considered as existing clients and could open new accounts and transfer their existing securities to TIGR, 3) TIGR is allowed to keep its supporting team and R&amp;D facilities in mainland China to serve existing onshore investors, and 4) TIGR app is removed from China app store to ensure no other onshore clients apart from the aforementioned scenarios. TIGR reiterated that the removal of its app in China does not affect existing clients as it provides detailed instructions on app download and updates. In 1Q23, total client assets of onshore clients increased by 10% QoQ with continued net asset inflows, indicating high client stickiness for TIGR.</p><p><strong>Maintain HOLD and lower TP to US$3.26.</strong> We raise our forecasts for 2023E-25E non-GAAP net income by 9%-16% as we: 1) increase MFSL balance by 5%-6%; 2) lower S&amp;M expense by 21%-24%; and 3) increase client assets by 10%; which together offset our 3%-4% cut in stock trading volume. However, we lower our target price to US$3.26 from US$3.46 with a lower target 2023E P/E multiple of 17.0x (previously 20.0x), below -0.5 SD of its past three years’ average 12-month forward P/E, to reflect a slower 2023E-25E earnings CAGR of 16.8% (previously 20.4%), implying 1.0x PEG. We expect TIGR’s share price to be range-bound until it shows strong client acquisition and trading volume in HK.</p><p><strong>Key risks include:</strong> Upside – improved stock market sentiment; faster overseas expansion. Downside – further market downturn and reduced retail investor participation; slower expansion overseas.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/e6c42bbec6e02fdac646386cdba1349f\" title=\"\" tg-width=\"1146\" tg-height=\"345\"></p><h2>1Q23 results review</h2><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/a31b05a3015e5746a1d153d354e18d5a\" tg-width=\"1270\" tg-height=\"745\"></p><h2>Estimate revisions</h2><p>We raise our forecasts for 2023E/ 24E/ 25E non-GAAP net income by 16%/ 15%/ 9% as we: 1) increase our forecasts for MFSL balance by 5%-6%; 2) lower marketing and branding expense forecasts by 21%-24%; and 3) increase client assets forecast by 10%; offsetting 4) our 3%-4% cut in stock trading volume forecasts.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/cc64e83933a1f1f55c45283e9f06f05c\" title=\"\" tg-width=\"1069\" tg-height=\"830\"></p><h2>Valuation</h2><p><strong>Maintain HOLD and lower target price to US$3.26.</strong> We lower our target price to US$3.26 from US$3.46 based on a new target 2023E P/E multiple of 17.0x (previously 20.0x), below -0.5 SD of its past three years’ average 12-month forward P/E. We lower our target P/E multiple to reflect a 2023E-25E earnings CAGR of 16.8%, implying 1.0x PEG. We expect TIGR’s share price to be range-bound until it shows strong client acquisition and trading volume in Hong Kong. Thus, we keep our HOLD rating.</p><p><strong>Potential share price catalysts</strong> include: 1) removal of regulatory overhang; 2) higher-than-expected number of new paying customers; and 3) an increase in client assets and trading volume driving up commission income.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/dc1e26cad07c6c6953fc30fa5c1d17b9\" title=\"\" tg-width=\"1163\" tg-height=\"555\"></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/5531ae32b8efa43bbc8702eef6209e18\" title=\"\" tg-width=\"1585\" tg-height=\"609\"></p><p>Using paying customer lifetime value (CLV) as a cross-check for TIGR’s valuation, we calculate its fair value at US$13.16 – assuming 892,000 paying customers in 4Q23E, 2% churn rate per quarter, ARPU of US$316 per quarter, gross margin of 72%, customer acquisition costs (CAC) per paying client of US$366, and a discount rate of 13%. As CAC would be a one-time cost, the number of paying customers, ARPU, churn rate and gross margin are the key variables affecting TIGR’s valuation. The difference between the derived fair value and our target price of US$3.26 is that we do not consider operating costs in this approach. Since TIGR has not yet reached a level to benefit from economies of scale, any decline in revenue with less room to save on operating costs would weigh on its earnings.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/339d650e2f85cb5ccfd191af957cc5f0\" title=\"\" tg-width=\"1600\" tg-height=\"803\"></p><h2>Risks</h2><p>Upside risks include:</p><ul><li><p>Improved stock market sentiment. If economic recovery comes faster than we expect, market sentiment could improve, leading to growth in trading turnover and margin finance balances for TIGR. This could lead to faster paying customer growth and increases in commission, financing service and interest income.</p></li><li><p>Faster international business development. If the international expansion of TIGR’s business, especially in HK, is more successful than we expect in terms of growth of the client base, retention and activation rate of current clients, and shorter payback period, TIGR could enjoy above-forecast growth in commission and interest income.</p></li><li><p>Better-than-expected efficiency improvement in self-clearing HK stocks. We expect self-clearing capabilities in the HK market to help TIGR manage its operating costs in an effective manner. Establishing a smooth and stable self-clearing process in HK could help TIGR to save more costs, leading to a higher profit margin.</p></li></ul><p>Downside risks include:</p><ul><li><p>Market downturn and reduced participation by retail investors. TIGR’s business is highly correlated with securities market performance and, if the markets in which it is active take a downward turn and retail investors are discouraged from investing, slower paying customer growth, lower trading turnover and lower margin finance balances could be the result.</p></li><li><p>Slower-than-expected market expansion. If market expansion in Australia and HK does not proceed at the pace expected by management, user growth may be lower than we expect and would negatively affect our earnings growth forecasts for TIGR.</p></li><li><p>Intensifying competition. More aggressive pricing competition on commission rates and margin financing rates from other online brokers may affect TIGR’s pricing strategy and impact its market share. This could lead to lower-than-expected user growth and a lower profit margin.</p></li><li><p>Delisting risk. TIGR’s own ADSs may be prohibited from trading in the over-the-counter market under the US Holding Foreign Companies Accountable Act (HFCAA), if the Public Company Accounting Oversight Board (PCAOB) is unable to inspect or fully investigate audited accounts of companies headquartered in China for two consecutive years.</p></li></ul><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/1bca331e0722aabce2f1a67c4c228d62\" title=\"\" tg-width=\"802\" tg-height=\"868\"></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>UP Fintech Holding Ltd 1Q23 Review: Fundamentals Improving Despite Rectification</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\">\nUP Fintech Holding Ltd 1Q23 Review: Fundamentals Improving Despite Rectification\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\">2023-05-31 14:19</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul><li><p>Benefitting from US stock market rebound in 1Q23, TIGR enjoyed sequential growth in new paying clients with lower CAC.</p></li><li><p>China regulators clarified guideline regarding the definition of onshore investors, suggesting regulatory overhang close to the end.</p></li><li><p>Reiterate HOLD and cut TP to US$3.26 (based on 17.0x 2023E P/E).</p></li></ul><p><em>Source: China Renaissance</em></p><p><strong>Benefit from US stock market rebound in 1Q23.</strong> UP Fintech (TIGR) acquired 30,392 new paying clients in 1Q23, up 11.2% QoQ, with Singapore contributing 60%, US 20%, AUS/NZ 15%, and Hong Kong 5%. As of end-1Q23, TIGR had around 48% of paying clients from Singapore with average client assets of US$15,000, up from US$13,000 in 4Q22. CAC was down 37% QoQ to US$171, mainly helped by more moderate marketing campaign amid volatile market. Execution and clearing expenses as a percentage of commission income declined to 9.6% in 1Q23 (vs 16.1% in 4Q22) helped by HK stocks’ self-clearing. TIGR reiterates its 2023 target of 100,000 new paying clients with CAC increased to US$300 in 2Q23 amid increasing marketing campaign in Hong Kong. In 2Q23 QTD, TIGR sees its trading volume, client assets and new paying clients down QoQ, with a flattish MFSL balance, following the weaker market sentiment since 1Q23.</p><p><strong>China regulatory uncertainties should be close to the end.</strong> Management noted that China regulators clarified some guidelines lately: 1) onshore investors who live or work overseas are allowed to open new accounts with TIGR, 2) onshore investors who prove to have an offshore brokerage account will be considered as existing clients and could open new accounts and transfer their existing securities to TIGR, 3) TIGR is allowed to keep its supporting team and R&amp;D facilities in mainland China to serve existing onshore investors, and 4) TIGR app is removed from China app store to ensure no other onshore clients apart from the aforementioned scenarios. TIGR reiterated that the removal of its app in China does not affect existing clients as it provides detailed instructions on app download and updates. In 1Q23, total client assets of onshore clients increased by 10% QoQ with continued net asset inflows, indicating high client stickiness for TIGR.</p><p><strong>Maintain HOLD and lower TP to US$3.26.</strong> We raise our forecasts for 2023E-25E non-GAAP net income by 9%-16% as we: 1) increase MFSL balance by 5%-6%; 2) lower S&amp;M expense by 21%-24%; and 3) increase client assets by 10%; which together offset our 3%-4% cut in stock trading volume. However, we lower our target price to US$3.26 from US$3.46 with a lower target 2023E P/E multiple of 17.0x (previously 20.0x), below -0.5 SD of its past three years’ average 12-month forward P/E, to reflect a slower 2023E-25E earnings CAGR of 16.8% (previously 20.4%), implying 1.0x PEG. We expect TIGR’s share price to be range-bound until it shows strong client acquisition and trading volume in HK.</p><p><strong>Key risks include:</strong> Upside – improved stock market sentiment; faster overseas expansion. Downside – further market downturn and reduced retail investor participation; slower expansion overseas.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/e6c42bbec6e02fdac646386cdba1349f\" title=\"\" tg-width=\"1146\" tg-height=\"345\"></p><h2>1Q23 results review</h2><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/a31b05a3015e5746a1d153d354e18d5a\" tg-width=\"1270\" tg-height=\"745\"></p><h2>Estimate revisions</h2><p>We raise our forecasts for 2023E/ 24E/ 25E non-GAAP net income by 16%/ 15%/ 9% as we: 1) increase our forecasts for MFSL balance by 5%-6%; 2) lower marketing and branding expense forecasts by 21%-24%; and 3) increase client assets forecast by 10%; offsetting 4) our 3%-4% cut in stock trading volume forecasts.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/cc64e83933a1f1f55c45283e9f06f05c\" title=\"\" tg-width=\"1069\" tg-height=\"830\"></p><h2>Valuation</h2><p><strong>Maintain HOLD and lower target price to US$3.26.</strong> We lower our target price to US$3.26 from US$3.46 based on a new target 2023E P/E multiple of 17.0x (previously 20.0x), below -0.5 SD of its past three years’ average 12-month forward P/E. We lower our target P/E multiple to reflect a 2023E-25E earnings CAGR of 16.8%, implying 1.0x PEG. We expect TIGR’s share price to be range-bound until it shows strong client acquisition and trading volume in Hong Kong. Thus, we keep our HOLD rating.</p><p><strong>Potential share price catalysts</strong> include: 1) removal of regulatory overhang; 2) higher-than-expected number of new paying customers; and 3) an increase in client assets and trading volume driving up commission income.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/dc1e26cad07c6c6953fc30fa5c1d17b9\" title=\"\" tg-width=\"1163\" tg-height=\"555\"></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/5531ae32b8efa43bbc8702eef6209e18\" title=\"\" tg-width=\"1585\" tg-height=\"609\"></p><p>Using paying customer lifetime value (CLV) as a cross-check for TIGR’s valuation, we calculate its fair value at US$13.16 – assuming 892,000 paying customers in 4Q23E, 2% churn rate per quarter, ARPU of US$316 per quarter, gross margin of 72%, customer acquisition costs (CAC) per paying client of US$366, and a discount rate of 13%. As CAC would be a one-time cost, the number of paying customers, ARPU, churn rate and gross margin are the key variables affecting TIGR’s valuation. The difference between the derived fair value and our target price of US$3.26 is that we do not consider operating costs in this approach. Since TIGR has not yet reached a level to benefit from economies of scale, any decline in revenue with less room to save on operating costs would weigh on its earnings.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/339d650e2f85cb5ccfd191af957cc5f0\" title=\"\" tg-width=\"1600\" tg-height=\"803\"></p><h2>Risks</h2><p>Upside risks include:</p><ul><li><p>Improved stock market sentiment. If economic recovery comes faster than we expect, market sentiment could improve, leading to growth in trading turnover and margin finance balances for TIGR. This could lead to faster paying customer growth and increases in commission, financing service and interest income.</p></li><li><p>Faster international business development. If the international expansion of TIGR’s business, especially in HK, is more successful than we expect in terms of growth of the client base, retention and activation rate of current clients, and shorter payback period, TIGR could enjoy above-forecast growth in commission and interest income.</p></li><li><p>Better-than-expected efficiency improvement in self-clearing HK stocks. We expect self-clearing capabilities in the HK market to help TIGR manage its operating costs in an effective manner. Establishing a smooth and stable self-clearing process in HK could help TIGR to save more costs, leading to a higher profit margin.</p></li></ul><p>Downside risks include:</p><ul><li><p>Market downturn and reduced participation by retail investors. TIGR’s business is highly correlated with securities market performance and, if the markets in which it is active take a downward turn and retail investors are discouraged from investing, slower paying customer growth, lower trading turnover and lower margin finance balances could be the result.</p></li><li><p>Slower-than-expected market expansion. If market expansion in Australia and HK does not proceed at the pace expected by management, user growth may be lower than we expect and would negatively affect our earnings growth forecasts for TIGR.</p></li><li><p>Intensifying competition. More aggressive pricing competition on commission rates and margin financing rates from other online brokers may affect TIGR’s pricing strategy and impact its market share. This could lead to lower-than-expected user growth and a lower profit margin.</p></li><li><p>Delisting risk. TIGR’s own ADSs may be prohibited from trading in the over-the-counter market under the US Holding Foreign Companies Accountable Act (HFCAA), if the Public Company Accounting Oversight Board (PCAOB) is unable to inspect or fully investigate audited accounts of companies headquartered in China for two consecutive years.</p></li></ul><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/1bca331e0722aabce2f1a67c4c228d62\" title=\"\" tg-width=\"802\" tg-height=\"868\"></p><p></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TIGR":"老虎证券"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185032253","content_text":"Benefitting from US stock market rebound in 1Q23, TIGR enjoyed sequential growth in new paying clients with lower CAC.China regulators clarified guideline regarding the definition of onshore investors, suggesting regulatory overhang close to the end.Reiterate HOLD and cut TP to US$3.26 (based on 17.0x 2023E P/E).Source: China RenaissanceBenefit from US stock market rebound in 1Q23. UP Fintech (TIGR) acquired 30,392 new paying clients in 1Q23, up 11.2% QoQ, with Singapore contributing 60%, US 20%, AUS/NZ 15%, and Hong Kong 5%. As of end-1Q23, TIGR had around 48% of paying clients from Singapore with average client assets of US$15,000, up from US$13,000 in 4Q22. CAC was down 37% QoQ to US$171, mainly helped by more moderate marketing campaign amid volatile market. Execution and clearing expenses as a percentage of commission income declined to 9.6% in 1Q23 (vs 16.1% in 4Q22) helped by HK stocks’ self-clearing. TIGR reiterates its 2023 target of 100,000 new paying clients with CAC increased to US$300 in 2Q23 amid increasing marketing campaign in Hong Kong. In 2Q23 QTD, TIGR sees its trading volume, client assets and new paying clients down QoQ, with a flattish MFSL balance, following the weaker market sentiment since 1Q23.China regulatory uncertainties should be close to the end. Management noted that China regulators clarified some guidelines lately: 1) onshore investors who live or work overseas are allowed to open new accounts with TIGR, 2) onshore investors who prove to have an offshore brokerage account will be considered as existing clients and could open new accounts and transfer their existing securities to TIGR, 3) TIGR is allowed to keep its supporting team and R&D facilities in mainland China to serve existing onshore investors, and 4) TIGR app is removed from China app store to ensure no other onshore clients apart from the aforementioned scenarios. TIGR reiterated that the removal of its app in China does not affect existing clients as it provides detailed instructions on app download and updates. In 1Q23, total client assets of onshore clients increased by 10% QoQ with continued net asset inflows, indicating high client stickiness for TIGR.Maintain HOLD and lower TP to US$3.26. We raise our forecasts for 2023E-25E non-GAAP net income by 9%-16% as we: 1) increase MFSL balance by 5%-6%; 2) lower S&M expense by 21%-24%; and 3) increase client assets by 10%; which together offset our 3%-4% cut in stock trading volume. However, we lower our target price to US$3.26 from US$3.46 with a lower target 2023E P/E multiple of 17.0x (previously 20.0x), below -0.5 SD of its past three years’ average 12-month forward P/E, to reflect a slower 2023E-25E earnings CAGR of 16.8% (previously 20.4%), implying 1.0x PEG. We expect TIGR’s share price to be range-bound until it shows strong client acquisition and trading volume in HK.Key risks include: Upside – improved stock market sentiment; faster overseas expansion. Downside – further market downturn and reduced retail investor participation; slower expansion overseas.1Q23 results reviewEstimate revisionsWe raise our forecasts for 2023E/ 24E/ 25E non-GAAP net income by 16%/ 15%/ 9% as we: 1) increase our forecasts for MFSL balance by 5%-6%; 2) lower marketing and branding expense forecasts by 21%-24%; and 3) increase client assets forecast by 10%; offsetting 4) our 3%-4% cut in stock trading volume forecasts.ValuationMaintain HOLD and lower target price to US$3.26. We lower our target price to US$3.26 from US$3.46 based on a new target 2023E P/E multiple of 17.0x (previously 20.0x), below -0.5 SD of its past three years’ average 12-month forward P/E. We lower our target P/E multiple to reflect a 2023E-25E earnings CAGR of 16.8%, implying 1.0x PEG. We expect TIGR’s share price to be range-bound until it shows strong client acquisition and trading volume in Hong Kong. Thus, we keep our HOLD rating.Potential share price catalysts include: 1) removal of regulatory overhang; 2) higher-than-expected number of new paying customers; and 3) an increase in client assets and trading volume driving up commission income.Using paying customer lifetime value (CLV) as a cross-check for TIGR’s valuation, we calculate its fair value at US$13.16 – assuming 892,000 paying customers in 4Q23E, 2% churn rate per quarter, ARPU of US$316 per quarter, gross margin of 72%, customer acquisition costs (CAC) per paying client of US$366, and a discount rate of 13%. As CAC would be a one-time cost, the number of paying customers, ARPU, churn rate and gross margin are the key variables affecting TIGR’s valuation. The difference between the derived fair value and our target price of US$3.26 is that we do not consider operating costs in this approach. Since TIGR has not yet reached a level to benefit from economies of scale, any decline in revenue with less room to save on operating costs would weigh on its earnings.RisksUpside risks include:Improved stock market sentiment. If economic recovery comes faster than we expect, market sentiment could improve, leading to growth in trading turnover and margin finance balances for TIGR. This could lead to faster paying customer growth and increases in commission, financing service and interest income.Faster international business development. If the international expansion of TIGR’s business, especially in HK, is more successful than we expect in terms of growth of the client base, retention and activation rate of current clients, and shorter payback period, TIGR could enjoy above-forecast growth in commission and interest income.Better-than-expected efficiency improvement in self-clearing HK stocks. We expect self-clearing capabilities in the HK market to help TIGR manage its operating costs in an effective manner. Establishing a smooth and stable self-clearing process in HK could help TIGR to save more costs, leading to a higher profit margin.Downside risks include:Market downturn and reduced participation by retail investors. TIGR’s business is highly correlated with securities market performance and, if the markets in which it is active take a downward turn and retail investors are discouraged from investing, slower paying customer growth, lower trading turnover and lower margin finance balances could be the result.Slower-than-expected market expansion. If market expansion in Australia and HK does not proceed at the pace expected by management, user growth may be lower than we expect and would negatively affect our earnings growth forecasts for TIGR.Intensifying competition. More aggressive pricing competition on commission rates and margin financing rates from other online brokers may affect TIGR’s pricing strategy and impact its market share. This could lead to lower-than-expected user growth and a lower profit margin.Delisting risk. TIGR’s own ADSs may be prohibited from trading in the over-the-counter market under the US Holding Foreign Companies Accountable Act (HFCAA), if the Public Company Accounting Oversight Board (PCAOB) is unable to inspect or fully investigate audited accounts of companies headquartered in China for two consecutive years.","news_type":1},"isVote":1,"tweetType":1,"viewCount":664,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":183620184563912,"gmtCreate":1685848735074,"gmtModify":1685848736162,"author":{"id":"3582261588383691","authorId":"3582261588383691","name":"风中独行","avatar":"https://static.tigerbbs.com/759fed09e7fb5bbc4b74d79faae88fd7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$老虎证券(TIGR)$ &nbsp;</a>一·","listText":"<a href=\"https://laohu8.com/S/TIGR\">$老虎证券(TIGR)$ &nbsp;</a>一·","text":"$老虎证券(TIGR)$ 一·","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/183620184563912","isVote":1,"tweetType":1,"viewCount":640,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":175830205,"gmtCreate":1627020408607,"gmtModify":1627020408607,"author":{"id":"3582261588383691","authorId":"3582261588383691","name":"风中独行","avatar":"https://static.tigerbbs.com/759fed09e7fb5bbc4b74d79faae88fd7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/IQ\">$爱奇艺(IQ)$</a>有救吗？","listText":"<a href=\"https://laohu8.com/S/IQ\">$爱奇艺(IQ)$</a>有救吗？","text":"$爱奇艺(IQ)$有救吗？","images":[{"img":"https://static.tigerbbs.com/cbb7601b36ae9e686b46b4ab71ba0a7b","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/175830205","isVote":1,"tweetType":1,"viewCount":1345,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":172547995,"gmtCreate":1626968435717,"gmtModify":1626968435717,"author":{"id":"3582261588383691","authorId":"3582261588383691","name":"风中独行","avatar":"https://static.tigerbbs.com/759fed09e7fb5bbc4b74d79faae88fd7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$老虎证券(TIGR)$</a>这几天震荡幅度大，还是持仓。","listText":"<a href=\"https://laohu8.com/S/TIGR\">$老虎证券(TIGR)$</a>这几天震荡幅度大，还是持仓。","text":"$老虎证券(TIGR)$这几天震荡幅度大，还是持仓。","images":[{"img":"https://static.tigerbbs.com/40345b69cd5a92632ce48d82b4474bfb","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/172547995","isVote":1,"tweetType":1,"viewCount":1869,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":172631881,"gmtCreate":1626957685743,"gmtModify":1626957685743,"author":{"id":"3582261588383691","authorId":"3582261588383691","name":"风中独行","avatar":"https://static.tigerbbs.com/759fed09e7fb5bbc4b74d79faae88fd7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"涨得不错。","listText":"涨得不错。","text":"涨得不错。","images":[{"img":"https://static.tigerbbs.com/4e97e60876600ec1e88b8838c2890951","width":"1080","height":"2391"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/172631881","isVote":1,"tweetType":1,"viewCount":1436,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":173241909,"gmtCreate":1626665193801,"gmtModify":1626665193801,"author":{"id":"3582261588383691","authorId":"3582261588383691","name":"风中独行","avatar":"https://static.tigerbbs.com/759fed09e7fb5bbc4b74d79faae88fd7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/IQ\">$爱奇艺(IQ)$</a>静待回升。","listText":"<a href=\"https://laohu8.com/S/IQ\">$爱奇艺(IQ)$</a>静待回升。","text":"$爱奇艺(IQ)$静待回升。","images":[{"img":"https://static.tigerbbs.com/48f3fdf1aced49e816c84b29f3731bc7","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/173241909","isVote":1,"tweetType":1,"viewCount":1643,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":173216309,"gmtCreate":1626661947801,"gmtModify":1626661947801,"author":{"id":"3582261588383691","authorId":"3582261588383691","name":"风中独行","avatar":"https://static.tigerbbs.com/759fed09e7fb5bbc4b74d79faae88fd7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"不知要跌到什么时候！","listText":"不知要跌到什么时候！","text":"不知要跌到什么时候！","images":[{"img":"https://static.tigerbbs.com/01df046d062f23d2342bfe241a8509e1","width":"1080","height":"2163"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/173216309","isVote":1,"tweetType":1,"viewCount":1635,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":179486060,"gmtCreate":1626571516550,"gmtModify":1626571516550,"author":{"id":"3582261588383691","authorId":"3582261588383691","name":"风中独行","avatar":"https://static.tigerbbs.com/759fed09e7fb5bbc4b74d79faae88fd7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"这个价格可以上车，比较看好老虎！","listText":"这个价格可以上车，比较看好老虎！","text":"这个价格可以上车，比较看好老虎！","images":[{"img":"https://static.tigerbbs.com/f4030005ce8b28b6ba856d67ee9a549f","width":"1080","height":"2391"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/179486060","isVote":1,"tweetType":1,"viewCount":1236,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":170411851,"gmtCreate":1626445455473,"gmtModify":1626445455473,"author":{"id":"3582261588383691","authorId":"3582261588383691","name":"风中独行","avatar":"https://static.tigerbbs.com/759fed09e7fb5bbc4b74d79faae88fd7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"小鹏汽车好样的，虽说只是小涨。","listText":"小鹏汽车好样的，虽说只是小涨。","text":"小鹏汽车好样的，虽说只是小涨。","images":[{"img":"https://static.tigerbbs.com/379d4ce9150b712e9501d306c4b08a32","width":"1080","height":"2391"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/170411851","isVote":1,"tweetType":1,"viewCount":1844,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":147975164,"gmtCreate":1626331407858,"gmtModify":1626331407858,"author":{"id":"3582261588383691","authorId":"3582261588383691","name":"风中独行","avatar":"https://static.tigerbbs.com/759fed09e7fb5bbc4b74d79faae88fd7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"与新东方比，还有涨的时候。","listText":"与新东方比，还有涨的时候。","text":"与新东方比，还有涨的时候。","images":[{"img":"https://static.tigerbbs.com/7b0590811ba9dc5d3a8c8fe9ddcde7dd","width":"1080","height":"3295"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/147975164","isVote":1,"tweetType":1,"viewCount":1790,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":147979088,"gmtCreate":1626330912744,"gmtModify":1626330912744,"author":{"id":"3582261588383691","authorId":"3582261588383691","name":"风中独行","avatar":"https://static.tigerbbs.com/759fed09e7fb5bbc4b74d79faae88fd7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a 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href=\"https://laohu8.com/S/WKHS\">$Workhorse Group, Inc.(WKHS)$</a>落袋为安。","text":"$Workhorse Group, Inc.(WKHS)$落袋为安。","images":[{"img":"https://static.tigerbbs.com/508c7cea22275b353582b33015ff9531","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/150364951","isVote":1,"tweetType":1,"viewCount":1602,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":165172437,"gmtCreate":1624111807529,"gmtModify":1624111807529,"author":{"id":"3582261588383691","authorId":"3582261588383691","name":"风中独行","avatar":"https://static.tigerbbs.com/759fed09e7fb5bbc4b74d79faae88fd7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/EDU\">$新东方(EDU)$</a>盘前涨开市跌，忙了半天白瞎。","listText":"<a href=\"https://laohu8.com/S/EDU\">$新东方(EDU)$</a>盘前涨开市跌，忙了半天白瞎。","text":"$新东方(EDU)$盘前涨开市跌，忙了半天白瞎。","images":[{"img":"https://static.tigerbbs.com/495ccb56e25f6f6439c63572a795acf8","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/165172437","isVote":1,"tweetType":1,"viewCount":215,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":186898563,"gmtCreate":1623482641152,"gmtModify":1623482641152,"author":{"id":"3582261588383691","authorId":"3582261588383691","name":"风中独行","avatar":"https://static.tigerbbs.com/759fed09e7fb5bbc4b74d79faae88fd7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"[强]&nbsp;[强]&nbsp;[强]&nbsp;[强]&nbsp;","listText":"[强]&nbsp;[强]&nbsp;[强]&nbsp;[强]&nbsp;","text":"[强] [强] [强] [强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/186898563","repostId":"1159028389","repostType":4,"repost":{"id":"1159028389","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1623481200,"share":"https://www.laohu8.com/m/news/1159028389?lang=&edition=full","pubTime":"2021-06-12 15:00","market":"us","language":"zh","title":"巫天华：身处黄金时代，老虎证券致力成为世界一流科技券商","url":"https://stock-news.laohu8.com/highlight/detail?id=1159028389","media":"老虎资讯综合","summary":"【正在直播】老虎7周年Open Day\n老虎证券正处于肉眼可见的变革中。\n 6月12日，在老虎证券七周年Open Day现场，创始人及CEO巫天华表示公司正全力加速国际化，目标是成为世界一流科技券商。","content":"<p><a href=\"https://laohu8.com/RN?name=RNLive&amp;rndata=%7B%22liveId%22:%2216226253307800%22%7D&amp;feature=Push\" target=\"_blank\"><b>【正在直播】老虎7周年Open Day</b></a></p>\n<p>老虎证券正处于肉眼可见的变革中。</p>\n<p>&nbsp;6月12日，在老虎证券七周年Open Day现场，创始人及CEO巫天华表示公司正全力加速国际化，目标是成为世界一流科技券商。</p>\n<p>&nbsp;2021年一季度，老虎证券曾宣布将进入美国市场。巫天华透露，截止目前，美国子公司累计入金客户中非华人占比已超过一半。老虎证券的海外运营数据正在颠覆外界对其的刻板印象。</p>\n<p>&nbsp;“不少人对老虎证券的印象还停留在服务全球华人用户时期，但实际上我们的产品也已获得了很多非华人用户的认可。老虎海外的英文版本受到美国、新加坡用户的欢迎。接下来，公司会继续集中兵力提升产品和技术竞争力，加速国际化扩张。”巫天华表示，在客户增速创下新高的一季度，海外客户占据新增入金客户的半壁江山，充分展现公司国际化能力。</p>\n<p><img src=\"https://static.tigerbbs.com/6dc68264ed30d893af578cd794ad0851\" tg-width=\"509\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p>&nbsp;老虎证券成立于2014年，在过去7年里，老虎凭借领先的技术和一站式交易体验，在2020年10月以创纪录的速度迈入百万开户客户行列。2020年，公司正式开启国际化，而此时的证券行业也处于巨变中：史无前例的全球放水以及更低的投资参与门槛促使全球年轻投资者蜂拥涌入市场。一方面，行业结构的变化让老虎证券对国际化所能打开的成长前景更有信心。另一方面，凭借前期对产品充分的打磨，老虎证券在新加坡顺利抓住此次历史机遇，登顶新加坡热门财务类应用（iOS APP Store）榜单，2021年一季度新增用户超越去年总和。</p>\n<p><b>&nbsp;</b>此前，巫天华曾在2020年三季度业绩会中表示，相信未来12-24个月内，海外客户能占到公司新增入金客户的一半以上。随着该目标比预期提早半年实现，老虎证券正在锚定更宽广的国际化赛道。</p>\n<p>&nbsp;“券商行业处于代际更替的节点，第三代科技券商终通过强大技术和组织进化力逐步取代传统券商。老虎证券一直以来旨在打造一个世界级的交易产品，通过坚持前中后台自研，不断优化用户体验。”巫天华强调，全球用户对于优质产品和服务的需求是相通的，不会拒绝全新科技生产力所带来的投资体验升级。</p>\n<p><img src=\"https://static.tigerbbs.com/e543653b21250deadbdd6eeff85cce65\" tg-width=\"1080\" tg-height=\"1527\" referrerpolicy=\"no-referrer\"></p>\n<p>&nbsp;从发展轨迹来看，老虎证券在创业初期抓住华人地区投资者投资美港股存在痛点的市场窗口，推出新一代满足用户需求的交易平台降维进攻并成功立足市场。随着产品护城河和品牌影响力的不断提升，再加上投资散户化的大势所趋，公司将步伐迈往更大的全球市场“水到渠成”。</p>\n<p>&nbsp;据悉，为了进一步加强资源协同以保证国际化运营效率，老虎证券已成立增长、数据和技术中台，以更好支持代码策略灵活配置保障本地化体验。</p>\n<p>&nbsp;“经过七年的沉淀，老虎作为头部互联网券商的品牌影响力和口碑、技术积累以及强大的进化力让我们具备发力更广疆域的能力。我们的愿景是成为世界一流科技券商，用科技不断为客户创造增量价值，将中国技术带向世界。”巫天华说。</p>\n<p>&nbsp;对于老虎证券而言，真正的蝶变才刚刚开始。</p>\n<p><img src=\"https://static.tigerbbs.com/e3c0d2fecd992af9cc610910b2e7394b\" tg-width=\"509\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE 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{color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n巫天华：身处黄金时代，老虎证券致力成为世界一流科技券商\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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\">老虎资讯综合 </p>\n<p class=\"h-time\">2021-06-12 15:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p><a href=\"https://laohu8.com/RN?name=RNLive&amp;rndata=%7B%22liveId%22:%2216226253307800%22%7D&amp;feature=Push\" target=\"_blank\"><b>【正在直播】老虎7周年Open Day</b></a></p>\n<p>老虎证券正处于肉眼可见的变革中。</p>\n<p>&nbsp;6月12日，在老虎证券七周年Open Day现场，创始人及CEO巫天华表示公司正全力加速国际化，目标是成为世界一流科技券商。</p>\n<p>&nbsp;2021年一季度，老虎证券曾宣布将进入美国市场。巫天华透露，截止目前，美国子公司累计入金客户中非华人占比已超过一半。老虎证券的海外运营数据正在颠覆外界对其的刻板印象。</p>\n<p>&nbsp;“不少人对老虎证券的印象还停留在服务全球华人用户时期，但实际上我们的产品也已获得了很多非华人用户的认可。老虎海外的英文版本受到美国、新加坡用户的欢迎。接下来，公司会继续集中兵力提升产品和技术竞争力，加速国际化扩张。”巫天华表示，在客户增速创下新高的一季度，海外客户占据新增入金客户的半壁江山，充分展现公司国际化能力。</p>\n<p><img src=\"https://static.tigerbbs.com/6dc68264ed30d893af578cd794ad0851\" tg-width=\"509\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p>&nbsp;老虎证券成立于2014年，在过去7年里，老虎凭借领先的技术和一站式交易体验，在2020年10月以创纪录的速度迈入百万开户客户行列。2020年，公司正式开启国际化，而此时的证券行业也处于巨变中：史无前例的全球放水以及更低的投资参与门槛促使全球年轻投资者蜂拥涌入市场。一方面，行业结构的变化让老虎证券对国际化所能打开的成长前景更有信心。另一方面，凭借前期对产品充分的打磨，老虎证券在新加坡顺利抓住此次历史机遇，登顶新加坡热门财务类应用（iOS APP Store）榜单，2021年一季度新增用户超越去年总和。</p>\n<p><b>&nbsp;</b>此前，巫天华曾在2020年三季度业绩会中表示，相信未来12-24个月内，海外客户能占到公司新增入金客户的一半以上。随着该目标比预期提早半年实现，老虎证券正在锚定更宽广的国际化赛道。</p>\n<p>&nbsp;“券商行业处于代际更替的节点，第三代科技券商终通过强大技术和组织进化力逐步取代传统券商。老虎证券一直以来旨在打造一个世界级的交易产品，通过坚持前中后台自研，不断优化用户体验。”巫天华强调，全球用户对于优质产品和服务的需求是相通的，不会拒绝全新科技生产力所带来的投资体验升级。</p>\n<p><img src=\"https://static.tigerbbs.com/e543653b21250deadbdd6eeff85cce65\" tg-width=\"1080\" tg-height=\"1527\" referrerpolicy=\"no-referrer\"></p>\n<p>&nbsp;从发展轨迹来看，老虎证券在创业初期抓住华人地区投资者投资美港股存在痛点的市场窗口，推出新一代满足用户需求的交易平台降维进攻并成功立足市场。随着产品护城河和品牌影响力的不断提升，再加上投资散户化的大势所趋，公司将步伐迈往更大的全球市场“水到渠成”。</p>\n<p>&nbsp;据悉，为了进一步加强资源协同以保证国际化运营效率，老虎证券已成立增长、数据和技术中台，以更好支持代码策略灵活配置保障本地化体验。</p>\n<p>&nbsp;“经过七年的沉淀，老虎作为头部互联网券商的品牌影响力和口碑、技术积累以及强大的进化力让我们具备发力更广疆域的能力。我们的愿景是成为世界一流科技券商，用科技不断为客户创造增量价值，将中国技术带向世界。”巫天华说。</p>\n<p>&nbsp;对于老虎证券而言，真正的蝶变才刚刚开始。</p>\n<p><img src=\"https://static.tigerbbs.com/e3c0d2fecd992af9cc610910b2e7394b\" tg-width=\"509\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/eb88831aeee93df3a0e3d746d13f5107","relate_stocks":{"TIGR":"老虎证券"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159028389","content_text":"【正在直播】老虎7周年Open Day\n老虎证券正处于肉眼可见的变革中。\n 6月12日，在老虎证券七周年Open Day现场，创始人及CEO巫天华表示公司正全力加速国际化，目标是成为世界一流科技券商。\n 2021年一季度，老虎证券曾宣布将进入美国市场。巫天华透露，截止目前，美国子公司累计入金客户中非华人占比已超过一半。老虎证券的海外运营数据正在颠覆外界对其的刻板印象。\n “不少人对老虎证券的印象还停留在服务全球华人用户时期，但实际上我们的产品也已获得了很多非华人用户的认可。老虎海外的英文版本受到美国、新加坡用户的欢迎。接下来，公司会继续集中兵力提升产品和技术竞争力，加速国际化扩张。”巫天华表示，在客户增速创下新高的一季度，海外客户占据新增入金客户的半壁江山，充分展现公司国际化能力。\n\n 老虎证券成立于2014年，在过去7年里，老虎凭借领先的技术和一站式交易体验，在2020年10月以创纪录的速度迈入百万开户客户行列。2020年，公司正式开启国际化，而此时的证券行业也处于巨变中：史无前例的全球放水以及更低的投资参与门槛促使全球年轻投资者蜂拥涌入市场。一方面，行业结构的变化让老虎证券对国际化所能打开的成长前景更有信心。另一方面，凭借前期对产品充分的打磨，老虎证券在新加坡顺利抓住此次历史机遇，登顶新加坡热门财务类应用（iOS APP Store）榜单，2021年一季度新增用户超越去年总和。\n 此前，巫天华曾在2020年三季度业绩会中表示，相信未来12-24个月内，海外客户能占到公司新增入金客户的一半以上。随着该目标比预期提早半年实现，老虎证券正在锚定更宽广的国际化赛道。\n “券商行业处于代际更替的节点，第三代科技券商终通过强大技术和组织进化力逐步取代传统券商。老虎证券一直以来旨在打造一个世界级的交易产品，通过坚持前中后台自研，不断优化用户体验。”巫天华强调，全球用户对于优质产品和服务的需求是相通的，不会拒绝全新科技生产力所带来的投资体验升级。\n\n 从发展轨迹来看，老虎证券在创业初期抓住华人地区投资者投资美港股存在痛点的市场窗口，推出新一代满足用户需求的交易平台降维进攻并成功立足市场。随着产品护城河和品牌影响力的不断提升，再加上投资散户化的大势所趋，公司将步伐迈往更大的全球市场“水到渠成”。\n 据悉，为了进一步加强资源协同以保证国际化运营效率，老虎证券已成立增长、数据和技术中台，以更好支持代码策略灵活配置保障本地化体验。\n “经过七年的沉淀，老虎作为头部互联网券商的品牌影响力和口碑、技术积累以及强大的进化力让我们具备发力更广疆域的能力。我们的愿景是成为世界一流科技券商，用科技不断为客户创造增量价值，将中国技术带向世界。”巫天华说。\n 对于老虎证券而言，真正的蝶变才刚刚开始。","news_type":1},"isVote":1,"tweetType":1,"viewCount":193,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":197525264,"gmtCreate":1621474804358,"gmtModify":1621474804358,"author":{"id":"3582261588383691","authorId":"3582261588383691","name":"风中独行","avatar":"https://static.tigerbbs.com/759fed09e7fb5bbc4b74d79faae88fd7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"股市波诡云谲，令人捉摸不透。","listText":"股市波诡云谲，令人捉摸不透。","text":"股市波诡云谲，令人捉摸不透。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/197525264","repostId":"1145906946","repostType":4,"isVote":1,"tweetType":1,"viewCount":463,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":194297054,"gmtCreate":1621381560678,"gmtModify":1621381560678,"author":{"id":"3582261588383691","authorId":"3582261588383691","name":"风中独行","avatar":"https://static.tigerbbs.com/759fed09e7fb5bbc4b74d79faae88fd7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"警惕通胀给股市带来的震荡！","listText":"警惕通胀给股市带来的震荡！","text":"警惕通胀给股市带来的震荡！","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/194297054","repostId":"2136946979","repostType":4,"repost":{"id":"2136946979","pubTimestamp":1621373758,"share":"https://www.laohu8.com/m/news/2136946979?lang=&edition=full","pubTime":"2021-05-19 05:35","market":"us","language":"zh","title":"外盘头条：美银调查显示通胀成为市场最大尾部风险","url":"https://stock-news.laohu8.com/highlight/detail?id=2136946979","media":"新浪财经","summary":"调查显示，创纪录的69%的受访者认为，高于趋势水平的增长和通胀是未来最可能发生的情况。此外，35%的受访者将通胀视为最大的“尾部风险”。而美联储官员们近期一再坚称通胀上升是暂时的，意味着仍将维持宽松政策。出口延期将对那些指望这家世界最大疫苗生产商提供廉价疫苗的国家造成重大挫折。周二早些时候该公司表示，两名中国交警周一在台州被一辆特斯拉撞伤。公司将全力配合中国相关部门对台州碰撞事故的调查工作。","content":"<p><b>全球财经媒体昨夜今晨共同关注的头条新闻主要有：</b></p><blockquote><b>1、美银调查：通胀成为当前市场最大的“尾部风险”</b></blockquote><blockquote><b>2、美财长耶伦：增税与基建计划将有利于企业提高利润和竞争力</b></blockquote><blockquote><b>3、欧盟另外提出新税收框架 将比美国推动的全球公司税计划更极端</b></blockquote><blockquote><b>4、从<a href=\"https://laohu8.com/S/GS\">高盛</a>、<a href=\"https://laohu8.com/S/BLK\">贝莱德</a>到摩根资管 华尔街顶尖专家热议市场泡沫</b></blockquote><blockquote><b>5、世界最大疫苗生产商表示新冠疫苗的出口将推迟到年底</b></blockquote><blockquote><b>6、<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>跑输其他电动汽车股 一系列负面消息接踵而至</b></blockquote><p><img src=\"https://static.tigerbbs.com/ed99f202b5f57772d9476428aa022af8\" tg-width=\"550\" tg-height=\"309\" referrerpolicy=\"no-referrer\"></p><p><b>美银调查：通胀成为当前市场最大的“尾部风险”</b></p><p><a href=\"https://laohu8.com/S/BAC\">美国银行</a>最新月度全球基金经理调查显示，尽管美联储一再强调当前的价格上涨是暂时的，但基金经理们仍将通胀视为对其投资组合的最大威胁，而非新冠疫情。</p><p>调查显示，创纪录的69%的受访者认为，高于趋势水平的增长和通胀是未来最可能发生的情况。此外，35%的受访者将通胀视为最大的“尾部风险”。</p><p>沃顿商学院教授Jeremy Siegel近期发出惊人警告，并预计美国通胀率在未来两三年里可能突破20%。他还将矛头指向了美联储，认为鲍威尔领导的美联储不作为，抨击美联储眼看着通胀起来却不采取任何抑制措施。</p><p>而美联储官员们近期一再坚称通胀上升是暂时的，意味着仍将维持宽松政策。</p><p><img src=\"https://static.tigerbbs.com/233979a0faa6a35396e1fdae9652312c\" tg-width=\"550\" tg-height=\"384\" referrerpolicy=\"no-referrer\"></p><p><b>美财长耶伦：增税与基建计划将有利于企业提高利润和竞争力</b></p><p>美国财政部长耶伦（Janet Yellen）周二为总统拜登（Joe Biden）的2.2万亿美元基础设施企业增税计划辩护，她告诉美国商会，这些计划将增强美国企业的盈利能力和竞争力。</p><p>耶伦在致美国商会的讲话中表示，“美国就业计划（American Jobs Plan）”的基础设施投资将直接给美国人带来好处、创造就业机会，并只是“使公司税率恢复历史规范”。</p><p>“我们有信心，美国就业计划中的投资和税收一揽子计划将提高美国公司的净利润，并提高其全球竞争力。我们希望企业领导者们同样这么认为，并支持就业计划。”她说。</p><p><img src=\"https://static.tigerbbs.com/59b9548768eff739a91d5c7c2f66bae2\" tg-width=\"490\" tg-height=\"323\" referrerpolicy=\"no-referrer\"></p><p><b>欧盟另外提出新税收框架 将比美国推动的全球公司税计划更极端</b></p><p>欧盟提出一项覆盖该地区的新公司税框架计划，将比正在讨论中的全球公司税计划走得更远。</p><p>在欧盟提出这项倡议前，美国提议设置全球最低公司税率，并要求跨国大公司向其实际业务经营所在地政府缴纳更多税款，加速推动了140个国家围绕这项全球税改问题的磋商。</p><p>欧盟提出的补充方案名为“企业在欧洲：所得税框架”，简称BEFIT，将创建单一的公司税收规则，并在成员国之间重新分配利润。</p><p>欧盟围绕公司税讨论了十年而无结果，此次提议正值新冠疫情导致政府支出激增，修复公共财政状况和解决大公司激进避税手段的压力都越来越大。</p><p>经济事务专员Paolo Gentiloni称：“现在是时候重新考虑欧洲税收问题了。BEFIT将减少繁琐手续，降低合规成本，最大程度减少避税机会，并支持欧盟的就业和投资。”</p><p><img src=\"https://static.tigerbbs.com/1e7a21aa689570fef6f56df632e25e05\" tg-width=\"550\" tg-height=\"309\" referrerpolicy=\"no-referrer\"></p><p><b>从高盛、贝莱德到摩根资管 华尔街顶尖专家热议市场泡沫</b></p><p>美联储可能对加密货币、特殊目的收购公司以及网红股票的投机狂热感到担忧，但华尔街的很多专家则认为泡沫风险正在系统重要性资产中全面膨胀。</p><p>从欧洲债券、美国国债到高收益信贷和科技股，所有资产都接近几十年来的最高估值，即使面临通胀怪兽终将出笼的风险。</p><p>从高盛到贝莱德，专家们对市场是否正处于不可持续的狂热陷入分歧。对于Loomis Sayles&amp;Co． LP的传奇人物、现年87岁的Dan Fuss来说，答案是肯定的，因为空前的流动性在良好经济面消息影响下有望收紧。</p><p>同时，<a href=\"https://laohu8.com/S/SCHW\">嘉信理财</a>的Kathy Jones警告客户提防垃圾债券的“疯狂”。还有摩根资产管理公司的Bob Michele呼吁美联储官员在市场泡沫形成之前尽快讨论缩减资产购买计划。</p><p><img src=\"https://static.tigerbbs.com/b9069a7236a19bc7d0149d61644f6eeb\" tg-width=\"550\" tg-height=\"366\" referrerpolicy=\"no-referrer\"></p><p><b>世界最大疫苗生产商表示新冠疫苗的出口将推迟到年底</b></p><p>印度血清研究所表示，由于向爆发疫情的母国供应新冠疫苗都面临困难，该公司的疫苗出口在年底之前不太可能恢复。该疫苗生产商原本打算为许多贫穷国家提供疫苗。</p><p>该公司现年40岁的首席执行官Adar Poonawalla表示，“我们希望在今年年底之前开始向Covax和其他国家/地区提供服务，”他指的是世卫组织支持的为低收入国家购买疫苗的计划。在最近几天与新德里进行讨论之后，“我们将继续扩大生产规模，并优先供应印度”。</p><p>出口延期将对那些指望这家世界最大疫苗生产商提供廉价疫苗的国家造成重大挫折。Poonawalla的公司获得许可以生产至少10亿剂<a href=\"https://laohu8.com/S/AZN\">阿斯利康</a>疫苗，但随着印度遭遇新一轮疫情的猛烈打击，其疫苗一直在努力满足本国的旺盛需求。</p><p><img src=\"https://static.tigerbbs.com/c47499fc282a9e15ea2a9a8c8e69ca5e\" tg-width=\"550\" tg-height=\"305\" referrerpolicy=\"no-referrer\"></p><p><b>特斯拉跑输其他电动汽车股 一系列负面消息接踵而至</b></p><p>特斯拉跑输较小的电动汽车股，大量负面新闻进一步打压了本已低迷的投资者情绪。</p><p>周二早些时候该公司表示，两名中国交警周一在台州被一辆特斯拉撞伤。公司将全力配合中国相关部门对台州碰撞事故的调查工作。</p><p>周一晚间，美国斯诺霍米什县治安官办公室在<a href=\"https://laohu8.com/S/FB\">Facebook</a>发帖称，特斯拉一辆处于autopilot模式的汽车于上周六撞上华盛顿州一辆巡逻车。</p><p>此外，监管文件显示，“大空头”Michael Burry也对特斯拉出手了，持有针对800，100股特斯拉股份的看跌期权。</p>","source":"sina_symbol","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>外盘头条：美银调查显示通胀成为市场最大尾部风险</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n外盘头条：美银调查显示通胀成为市场最大尾部风险\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-19 05:35 北京时间&nbsp;&nbsp;&nbsp;<a href=https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/stock/usstock/c/2021-05-19/doc-ikmyaawc6129911.shtml><strong>新浪财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>全球财经媒体昨夜今晨共同关注的头条新闻主要有：1、美银调查：通胀成为当前市场最大的“尾部风险”2、美财长耶伦：增税与基建计划将有利于企业提高利润和竞争力3、欧盟另外提出新税收框架 将比美国推动的全球公司税计划更极端4、从高盛、贝莱德到摩根资管 华尔街顶尖专家热议市场泡沫5、世界最大疫苗生产商表示新冠疫苗的出口将推迟到年底6、特斯拉跑输其他电动汽车股 一系列负面消息接踵而至美银调查：通胀成为当前市场...</p>\n\n<a href=\"https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/stock/usstock/c/2021-05-19/doc-ikmyaawc6129911.shtml\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5c8954665756ab7e669863bbe8f57ce0","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SH":"标普500反向ETF","QQQ":"纳指100ETF","DDM":"道指两倍做多ETF",".DJI":"道琼斯","TQQQ":"纳指三倍做多ETF","SSO":"两倍做多标普500ETF",".IXIC":"NASDAQ Composite","DOG":"道指反向ETF","SQQQ":"纳指三倍做空ETF",".SPX":"S&P 500 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Siegel近期发出惊人警告，并预计美国通胀率在未来两三年里可能突破20%。他还将矛头指向了美联储，认为鲍威尔领导的美联储不作为，抨击美联储眼看着通胀起来却不采取任何抑制措施。而美联储官员们近期一再坚称通胀上升是暂时的，意味着仍将维持宽松政策。美财长耶伦：增税与基建计划将有利于企业提高利润和竞争力美国财政部长耶伦（Janet Yellen）周二为总统拜登（Joe Biden）的2.2万亿美元基础设施企业增税计划辩护，她告诉美国商会，这些计划将增强美国企业的盈利能力和竞争力。耶伦在致美国商会的讲话中表示，“美国就业计划（American Jobs Plan）”的基础设施投资将直接给美国人带来好处、创造就业机会，并只是“使公司税率恢复历史规范”。“我们有信心，美国就业计划中的投资和税收一揽子计划将提高美国公司的净利润，并提高其全球竞争力。我们希望企业领导者们同样这么认为，并支持就业计划。”她说。欧盟另外提出新税收框架 将比美国推动的全球公司税计划更极端欧盟提出一项覆盖该地区的新公司税框架计划，将比正在讨论中的全球公司税计划走得更远。在欧盟提出这项倡议前，美国提议设置全球最低公司税率，并要求跨国大公司向其实际业务经营所在地政府缴纳更多税款，加速推动了140个国家围绕这项全球税改问题的磋商。欧盟提出的补充方案名为“企业在欧洲：所得税框架”，简称BEFIT，将创建单一的公司税收规则，并在成员国之间重新分配利润。欧盟围绕公司税讨论了十年而无结果，此次提议正值新冠疫情导致政府支出激增，修复公共财政状况和解决大公司激进避税手段的压力都越来越大。经济事务专员Paolo Gentiloni称：“现在是时候重新考虑欧洲税收问题了。BEFIT将减少繁琐手续，降低合规成本，最大程度减少避税机会，并支持欧盟的就业和投资。”从高盛、贝莱德到摩根资管 华尔街顶尖专家热议市场泡沫美联储可能对加密货币、特殊目的收购公司以及网红股票的投机狂热感到担忧，但华尔街的很多专家则认为泡沫风险正在系统重要性资产中全面膨胀。从欧洲债券、美国国债到高收益信贷和科技股，所有资产都接近几十年来的最高估值，即使面临通胀怪兽终将出笼的风险。从高盛到贝莱德，专家们对市场是否正处于不可持续的狂热陷入分歧。对于Loomis Sayles&Co． LP的传奇人物、现年87岁的Dan Fuss来说，答案是肯定的，因为空前的流动性在良好经济面消息影响下有望收紧。同时，嘉信理财的Kathy Jones警告客户提防垃圾债券的“疯狂”。还有摩根资产管理公司的Bob Michele呼吁美联储官员在市场泡沫形成之前尽快讨论缩减资产购买计划。世界最大疫苗生产商表示新冠疫苗的出口将推迟到年底印度血清研究所表示，由于向爆发疫情的母国供应新冠疫苗都面临困难，该公司的疫苗出口在年底之前不太可能恢复。该疫苗生产商原本打算为许多贫穷国家提供疫苗。该公司现年40岁的首席执行官Adar Poonawalla表示，“我们希望在今年年底之前开始向Covax和其他国家/地区提供服务，”他指的是世卫组织支持的为低收入国家购买疫苗的计划。在最近几天与新德里进行讨论之后，“我们将继续扩大生产规模，并优先供应印度”。出口延期将对那些指望这家世界最大疫苗生产商提供廉价疫苗的国家造成重大挫折。Poonawalla的公司获得许可以生产至少10亿剂阿斯利康疫苗，但随着印度遭遇新一轮疫情的猛烈打击，其疫苗一直在努力满足本国的旺盛需求。特斯拉跑输其他电动汽车股 一系列负面消息接踵而至特斯拉跑输较小的电动汽车股，大量负面新闻进一步打压了本已低迷的投资者情绪。周二早些时候该公司表示，两名中国交警周一在台州被一辆特斯拉撞伤。公司将全力配合中国相关部门对台州碰撞事故的调查工作。周一晚间，美国斯诺霍米什县治安官办公室在Facebook发帖称，特斯拉一辆处于autopilot模式的汽车于上周六撞上华盛顿州一辆巡逻车。此外，监管文件显示，“大空头”Michael Burry也对特斯拉出手了，持有针对800，100股特斯拉股份的看跌期权。","news_type":1},"isVote":1,"tweetType":1,"viewCount":138,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":170411851,"gmtCreate":1626445455473,"gmtModify":1626445455473,"author":{"id":"3582261588383691","authorId":"3582261588383691","name":"风中独行","avatar":"https://static.tigerbbs.com/759fed09e7fb5bbc4b74d79faae88fd7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"小鹏汽车好样的，虽说只是小涨。","listText":"小鹏汽车好样的，虽说只是小涨。","text":"小鹏汽车好样的，虽说只是小涨。","images":[{"img":"https://static.tigerbbs.com/379d4ce9150b712e9501d306c4b08a32","width":"1080","height":"2391"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/170411851","isVote":1,"tweetType":1,"viewCount":1844,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":145096916,"gmtCreate":1626181801635,"gmtModify":1626181801635,"author":{"id":"3582261588383691","authorId":"3582261588383691","name":"风中独行","avatar":"https://static.tigerbbs.com/759fed09e7fb5bbc4b74d79faae88fd7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"吉利汽车买不起。","listText":"吉利汽车买不起。","text":"吉利汽车买不起。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/145096916","isVote":1,"tweetType":1,"viewCount":806,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":151715788,"gmtCreate":1625106704144,"gmtModify":1625106704144,"author":{"id":"3582261588383691","authorId":"3582261588383691","name":"风中独行","avatar":"https://static.tigerbbs.com/759fed09e7fb5bbc4b74d79faae88fd7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a 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