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hintuang
2021-09-24
[微笑] [微笑]
抱歉,原内容已删除
hintuang
2021-09-24
[微笑]
开盘:恒指低开0.1%,堃博医疗首挂跌近4%
hintuang
2021-09-21
[微笑]
郭明錤:带屏下指纹识别的iPhone预计2023年出现
hintuang
2021-09-18
[微笑]
ESG基金都在买什么?哦,还是白酒
hintuang
2021-09-02
好好👌🏻
恒生科技指数涨超3%,快手-W涨超8%
hintuang
2021-09-02
可以吗[微笑] [开心]
智通每日大行研报丨赣锋锂业(01772)获高盛及美银一致唱好 目标价最高看至230港元
hintuang
2021-09-02
[微笑] [微笑]
热门中概股盘中集体拉升,拼多多涨近9%
hintuang
2021-09-02
好好[微笑]
抱歉,原内容已删除
hintuang
2021-08-31
早上好[微笑]
海伦司今起招股,入场费约10464.4港元
hintuang
2021-08-26
[微笑]
Snowflake财报超预期,盘后股价涨逾3%
hintuang
2021-08-16
[微笑]
抱歉,原内容已删除
hintuang
2021-08-16
[微笑]
抱歉,原内容已删除
hintuang
2021-08-15
[微笑]
@3Fs:3 Things You May Be Interest Tencent > 10% Shares Drop Today
hintuang
2021-08-14
[强]
@小虎AV: 【分析师称Moderna股价荒谬,看空下跌75%】美国银行(Bank of America)分析师杰夫·米查姆(Geoff Meacham)表示,Moderna的股价很荒谬,可能会较目前水平下跌75%[眼眼]
$Moderna, Inc.(MRNA)$
hintuang
2021-08-12
😁😁
抱歉,原内容已删除
hintuang
2021-08-03
[强] [强]
抱歉,原内容已删除
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","text":"[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/861992548","repostId":"1185877751","repostType":4,"repost":{"id":"1185877751","kind":"news","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":1632446524,"share":"https://www.laohu8.com/m/news/1185877751?lang=&edition=full","pubTime":"2021-09-24 09:22","market":"hk","language":"zh","title":"开盘:恒指低开0.1%,堃博医疗首挂跌近4%","url":"https://stock-news.laohu8.com/highlight/detail?id=1185877751","media":"老虎资讯综合","summary":"9月24日讯,港股三大指数集体低开,恒指跌0.1%报24487点,国指跌0.23%报8714点,恒生科技指数跌0.17%报6289点。\n盘面上,电力股、地产股延续昨日强势,富力地产大涨8.5%,华能国","content":"<p>9月24日讯,港股三大指数集体低开,恒指跌0.1%报24487点,国指跌0.23%报8714点,恒生科技指数跌0.17%报6289点。</p>\n<p>盘面上,电力股、地产股延续昨日强势,<a href=\"https://laohu8.com/S/02777\">富力地产</a>大涨8.5%,<a href=\"https://laohu8.com/S/600011\">华能国际</a>涨1.6%;药品股、餐饮股、航空股、海运股、石油股、钢铁、铝等有色板块普涨,<a href=\"https://laohu8.com/S/09922\">九毛九</a>、<a href=\"https://laohu8.com/S/601111\">中国国航</a>皆高开逾2%;大型科技股<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>、小米跌超1%,腾讯、美团、百度小幅低开,家电股、光伏玻璃股走弱明显。<img src=\"https://static.tigerbbs.com/5834b864d29372e9eff2a3db18122de4\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"><a href=\"https://laohu8.com/S/02216\">堃博医疗-B</a>首日上市低开3.74%,报18港元,跌破发行价18.7港元;昨日暗盘收跌8.77%。</p>\n<p><a href=\"https://laohu8.com/S/02777\">富力地产</a>涨近9%,宣布回购2500万美元优先票据。</p>\n<p><a href=\"https://laohu8.com/S/06078\">海吉亚医疗</a>跌约10%,盘前成交近26亿港元。</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>开盘:恒指低开0.1%,堃博医疗首挂跌近4%</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n开盘:恒指低开0.1%,堃博医疗首挂跌近4%\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\">2021-09-24 09:22</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>9月24日讯,港股三大指数集体低开,恒指跌0.1%报24487点,国指跌0.23%报8714点,恒生科技指数跌0.17%报6289点。</p>\n<p>盘面上,电力股、地产股延续昨日强势,<a href=\"https://laohu8.com/S/02777\">富力地产</a>大涨8.5%,<a href=\"https://laohu8.com/S/600011\">华能国际</a>涨1.6%;药品股、餐饮股、航空股、海运股、石油股、钢铁、铝等有色板块普涨,<a href=\"https://laohu8.com/S/09922\">九毛九</a>、<a href=\"https://laohu8.com/S/601111\">中国国航</a>皆高开逾2%;大型科技股<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>、小米跌超1%,腾讯、美团、百度小幅低开,家电股、光伏玻璃股走弱明显。<img src=\"https://static.tigerbbs.com/5834b864d29372e9eff2a3db18122de4\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"><a href=\"https://laohu8.com/S/02216\">堃博医疗-B</a>首日上市低开3.74%,报18港元,跌破发行价18.7港元;昨日暗盘收跌8.77%。</p>\n<p><a href=\"https://laohu8.com/S/02777\">富力地产</a>涨近9%,宣布回购2500万美元优先票据。</p>\n<p><a href=\"https://laohu8.com/S/06078\">海吉亚医疗</a>跌约10%,盘前成交近26亿港元。</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ff6e3231d788a5a6d28cf7965385cc7f","relate_stocks":{"159891":"医疗","513600":"恒生指数ETF","HSI":"恒生指数","02833":"恒指ETF"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185877751","content_text":"9月24日讯,港股三大指数集体低开,恒指跌0.1%报24487点,国指跌0.23%报8714点,恒生科技指数跌0.17%报6289点。\n盘面上,电力股、地产股延续昨日强势,富力地产大涨8.5%,华能国际涨1.6%;药品股、餐饮股、航空股、海运股、石油股、钢铁、铝等有色板块普涨,九毛九、中国国航皆高开逾2%;大型科技股阿里巴巴、小米跌超1%,腾讯、美团、百度小幅低开,家电股、光伏玻璃股走弱明显。堃博医疗-B首日上市低开3.74%,报18港元,跌破发行价18.7港元;昨日暗盘收跌8.77%。\n富力地产涨近9%,宣布回购2500万美元优先票据。\n海吉亚医疗跌约10%,盘前成交近26亿港元。","news_type":1},"isVote":1,"tweetType":1,"viewCount":981,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":860501812,"gmtCreate":1632185907936,"gmtModify":1632802237383,"author":{"id":"4087770624341400","authorId":"4087770624341400","name":"hintuang","avatar":"https://static.tigerbbs.com/659d9777dc4ea3d38a46980a74ae3d8c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087770624341400","authorIdStr":"4087770624341400"},"themes":[],"htmlText":"[微笑] ","listText":"[微笑] ","text":"[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/860501812","repostId":"2169536689","repostType":4,"repost":{"id":"2169536689","kind":"news","pubTimestamp":1632180075,"share":"https://www.laohu8.com/m/news/2169536689?lang=&edition=full","pubTime":"2021-09-21 07:21","market":"us","language":"zh","title":"郭明錤:带屏下指纹识别的iPhone预计2023年出现","url":"https://stock-news.laohu8.com/highlight/detail?id=2169536689","media":"市场资讯","summary":" 除了声称iPhone 14 Pro机型将采用打孔显示屏设计和4800万像素广角镜头的后置摄像头系统外,苹果产业链分析师郭明錤还概述了他对未来iPhone的更多预期。 在他撰写的一份研究报告中,郭明錤表示,虽然他之前预测苹果将在2022年下半年推出首款带有屏下触摸识别功能的iPhone。同样,苹果的第一款可折叠iPhone将在2024年推出,而之前认为是2023年。 郭明錤没有提供任何进一步的细节,包括哪些iPhone机型可能获得屏下指纹传感器。","content":"<p>原标题:郭明錤:带屏下指纹识别的iPhone预计2023年出现 折叠型号再晚一年</p>\n<p>除了声称iPhone 14 Pro机型将采用打孔显示屏设计和4800万像素广角镜头的后置摄像头系统外,<a href=\"https://laohu8.com/S/AAPL\">苹果</a>产业链分析师郭明錤还概述了他对未来iPhone的更多预期。</p>\n<p>在他撰写的一份研究报告中,郭明錤表示,虽然他之前预测苹果将在2022年下半年推出首款带有屏下触摸识别功能的iPhone。</p>\n<p>但他现在预计,由于开发进度比预期慢,这些设备将在2023年下半年发布。同样,苹果的第一款可折叠iPhone将在2024年推出,而之前认为是2023年。</p>\n<p>郭明錤没有提供任何进一步的细节,包括哪些iPhone机型可能获得屏下指纹传感器。屏下指纹识别很可能是对Face ID的补充,为用户提供多种生物识别认证选项。<img src=\"https://static.tigerbbs.com/258023630f0d228de34dcf7f13c0bbf5\" tg-width=\"600\" tg-height=\"475\" referrerpolicy=\"no-referrer\"></p>","source":"sina","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>郭明錤:带屏下指纹识别的iPhone预计2023年出现</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郭明錤:带屏下指纹识别的iPhone预计2023年出现\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-21 07:21 北京时间 <a href=https://finance.sina.com.cn/stock/usstock/c/2021-09-21/doc-iktzqtyt7157196.shtml><strong>市场资讯</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>原标题:郭明錤:带屏下指纹识别的iPhone预计2023年出现 折叠型号再晚一年\n除了声称iPhone 14 Pro机型将采用打孔显示屏设计和4800万像素广角镜头的后置摄像头系统外,苹果产业链分析师郭明錤还概述了他对未来iPhone的更多预期。\n在他撰写的一份研究报告中,郭明錤表示,虽然他之前预测苹果将在2022年下半年推出首款带有屏下触摸识别功能的iPhone。\n但他现在预计,由于开发进度比...</p>\n\n<a href=\"https://finance.sina.com.cn/stock/usstock/c/2021-09-21/doc-iktzqtyt7157196.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/258023630f0d228de34dcf7f13c0bbf5","relate_stocks":{"AAPL":"苹果"},"source_url":"https://finance.sina.com.cn/stock/usstock/c/2021-09-21/doc-iktzqtyt7157196.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","article_id":"2169536689","content_text":"原标题:郭明錤:带屏下指纹识别的iPhone预计2023年出现 折叠型号再晚一年\n除了声称iPhone 14 Pro机型将采用打孔显示屏设计和4800万像素广角镜头的后置摄像头系统外,苹果产业链分析师郭明錤还概述了他对未来iPhone的更多预期。\n在他撰写的一份研究报告中,郭明錤表示,虽然他之前预测苹果将在2022年下半年推出首款带有屏下触摸识别功能的iPhone。\n但他现在预计,由于开发进度比预期慢,这些设备将在2023年下半年发布。同样,苹果的第一款可折叠iPhone将在2024年推出,而之前认为是2023年。\n郭明錤没有提供任何进一步的细节,包括哪些iPhone机型可能获得屏下指纹传感器。屏下指纹识别很可能是对Face ID的补充,为用户提供多种生物识别认证选项。","news_type":1},"isVote":1,"tweetType":1,"viewCount":989,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":884725161,"gmtCreate":1631935917653,"gmtModify":1632805215443,"author":{"id":"4087770624341400","authorId":"4087770624341400","name":"hintuang","avatar":"https://static.tigerbbs.com/659d9777dc4ea3d38a46980a74ae3d8c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087770624341400","authorIdStr":"4087770624341400"},"themes":[],"htmlText":"[微笑] ","listText":"[微笑] ","text":"[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/884725161","repostId":"2168572881","repostType":4,"repost":{"id":"2168572881","kind":"highlight","weMediaInfo":{"introduction":"既有深度,又有响度,研究古典互联网。","home_visible":1,"media_name":"深响","id":"1038713350","head_image":"https://static.tigerbbs.com/f5b431abf34240f5bf6064f88f02fa9d"},"pubTimestamp":1631934000,"share":"https://www.laohu8.com/m/news/2168572881?lang=&edition=full","pubTime":"2021-09-18 11:00","market":"hk","language":"zh","title":"ESG基金都在买什么?哦,还是白酒","url":"https://stock-news.laohu8.com/highlight/detail?id=2168572881","media":"深响","summary":"ESG基金重仓白酒,这合理吗?显然,ESG主题基金“纯度”更高。根据秩鼎公司《2021年8月ESG资管产品研究报告》的统计,截至2021年7月31日,国内已发行ESG主题公募基金共80只,其中26只为ESG投资主题产品。从新增产品来看,近一年ESG主题公募基金产品的占比开始提升。海外的ESG基金通常会将涉及酒精、赌博、烟草、核能以及武器制造的企业排除在外。","content":"<p>环境友好、商业道德、社会责任,所有的风一下子都吹向了ESG(环境、社会、公司治理)。</p>\n<p>从名字就能看出,ESG是个漂洋过海的概念。随着国内经济发展到一定阶段,市场和公众对于企业野蛮增长的态度也在转变,越来越多人开始关注:企业业务是否环保、赚钱的同时是否尽到该有的社会责任、员工是否得到应有的权益。</p>\n<p>叠加“碳中和”大趋势,ESG一下成为了资管机构的新宠,公司争相吆喝的概念。市场很热闹,但有些问题仍然没有好的回答:</p>\n<ul>\n <li><p>为什么宣称以ESG为投资策略的基金会重仓白酒?ESG基金选公司的时候遵循哪些标准?这些标准是自说自话还是行业共识?</p></li>\n <li><p>抛开那些高屋建瓴的展望,作为普通投资者,投资ESG基金的理由是什么,它到底能不能带来更好的收益?</p></li>\n</ul>\n<p><b>ESG基金重仓白酒,这合理吗?</b></p>\n<p>一切得先回到起点,回答“什么是ESG基金”?</p>\n<p>广义上讲,公募基金市场上早有与ESG相关的产品,但资管机构聚焦ESG概念,乃至把ESG作为产品名称要素,则是近年才有的事。</p>\n<p>ESG基金大致可以分为“泛ESG基金”和“ESG主题基金”:前者关心E、S、G中的某一项,一般会涉及可持续发展、社会责任、绿色生态、节能环保、公司治理等主题;后者同时考量E、S、G三个维度,其中将ESG作为主要投资策略的为“ESG投资主题基金”,将ESG作为参考的为“ESG概念主题基金”。</p>\n<p>显然,ESG主题基金“纯度”更高。根据秩鼎公司《2021年8月ESG资管产品研究报告》的统计,截至2021年7月31日,国内已发行ESG主题公募基金共80只,其中26只为ESG投资主题产品。从新增产品来看,近一年ESG主题公募基金产品的占比开始提升。</p>\n<p><b>趋势是明确的,ESG作为投资策略越来越重视,但如果看这些ESG基金的具体持仓,它们似乎都有些“口是心非”。</b></p>\n<p>以下面两只名字带有ESG的公募基金产品为例,根据二季报,第一只基金前十持仓中有4家白酒企业,白酒股在总持仓的占比超30%;第二只基金虽然白酒浓度相对较低,但前五持仓里也出现了两家白酒企业。</p>\n<p><img src=\"https://static.tigerbbs.com/2204d636fc4f4c15b49302f704c829f4\" tg-width=\"852\" tg-height=\"538\" referrerpolicy=\"no-referrer\"></p>\n<p>两只ESG公募基金产品的前十持仓情况|图源:天天基金网</p>\n<p>这不是个例。根据<a href=\"https://laohu8.com/S/600030\">中信证券</a>和秩鼎公司对公募基金季报的分析,ESG主题公募基金2021年一季度末前三大重仓股为<a href=\"https://laohu8.com/S/600519\">贵州茅台</a>、<a href=\"https://laohu8.com/S/00700\">腾讯控股</a>、<a href=\"https://laohu8.com/S/601888\">中国中免</a>;二季度末前三大重仓股为<a href=\"https://laohu8.com/S/300750\">宁德时代</a>、腾讯控股、贵州茅台。</p>\n<p><b>ESG基金爱喝酒,这既违背感性认知,也不太符合ESG的“社会责任”理念。</b>海外的ESG基金通常会将涉及酒精、赌博、烟草、核能以及武器制造的企业排除在外。</p>\n<p>但基金公司认为自己也有苦衷。一种辩解观点是,重视ESG理念不等于放弃收益,也不等于要对特定行业(白酒、军工)全盘否定,假如某个上市公司在该行业的ESG得分处于中上游,依然可以入选股票池。</p>\n<p><b>这便牵扯到了ESG评级的问题。尴尬的是,有些公司的ESG评级怎么看都算不上高。</b>贵州茅台在海外机构MSCI的最新ESG评级为“CCC”,在饮料行业的53家公司里处于落后位置。国内评级机构“商道融绿”和“中财绿金院”给茅台的评级也分别是低位的“B-”和“C”。</p>\n<p><b>还有一种尴尬的情况是,同一家公司,在不同机构得到ESG评级结果差别较大,这让ESG投资看上去方向模糊。</b>比如,<a href=\"https://laohu8.com/S/000858\">五粮液</a>在MSCI的ESG评级为“B”(仅比“CCC”高一档),“商道融绿”和“中财绿金院”则分别给了“A-”和“B”的评级。</p>\n<p><img src=\"https://static.tigerbbs.com/8b4e8ae751e948419c93fc1ab3cee71a\" tg-width=\"1080\" tg-height=\"336\" referrerpolicy=\"no-referrer\"></p>\n<p><img src=\"https://static.tigerbbs.com/8898e602e49640679cfc236a6b7a989a\" tg-width=\"1080\" tg-height=\"333\" referrerpolicy=\"no-referrer\"></p>\n<p>贵州茅台和五粮液在MSCI的ESG评级|图源:MSCI官网</p>\n<p>ESG基金“纯度”不高、“风格漂移“的情况并不少见。据财联社报道,有基金从业者表示,部分ESG产品为追求Alpha,会在产品的设计上做一些权重的调整,比如提高G(Governance)的比重,通过调整ESG三大维度的权重来实现产品业绩的优化。</p>\n<p><b>问题的根源在于缺少标准。</b>现阶段,不少基金公司用的是自建的ESG评级系统,打分标准参差,也没有对外披露的强制性规定。在首届“ESG全球领导者峰会”上,全国社会保障基金理事会副理事长陈文辉直言,“很难说基金经理是依据ESG评分选择企业,还是给想投的企业打出一个ESG高分”。</p>\n<p>在陈文辉看来,没有统一的评价体系,即使有再多ESG主题基金,ESG投资也是舍本逐末,很难发挥资本引导企业加强社会责任的作用。</p>\n<p>今日市场所看到的“割裂感”由此而生。行业需要标准,但这注定是个大工程。</p>\n<h2><b>标准制定路漫漫</b></h2>\n<p>无论上市公司、监管部门,还是第三方机构、基金公司层面,国内资本市场的ESG投资生态都是处于早期阶段。</p>\n<p>由于起步较早,海外资本市场形成了相对成熟的ESG投资生态,生态内有制定标准的国际组织和交易所,采用机器学习或NLP等方法处理非结构化数据的专项数据提供商、各大第三方评级机构、以及收集并结构化处理数据的数据集成方。</p>\n<p>一个理想的状态是:在ESG信息披露制度完善的情况下,上市公司所披露的信息充足,且受到第三方机构监督,主流ESG评级机构可以基于丰富信息搭建评级框架,最终在多方合力下形成ESG信息披露规范和相应的投资标准。</p>\n<p><img src=\"https://static.tigerbbs.com/ab39e95ac8594957bfc2975c5b1d414b\" tg-width=\"1042\" tg-height=\"622\" referrerpolicy=\"no-referrer\"></p>\n<p>中金:ESG投资系列(3):ESG评级“存异”但难“求同”|图源:中金量化</p>\n<p>但目前,国内的ESG信息披露制度尚处于谋划阶段,证监会并未强制要求上市公司披露自己的ESG报告,上市公司也没有足够的意愿披露ESG信息,即使有所披露,所披露信息的广度和质量也不足,且很少涉及负面信息。此外,不少上市公司管理层并不了解ESG评价逻辑、也不清楚如何提升ESG评级、如何把ESG投入纳入财务体系。</p>\n<p>根据《A股上市公司2020年度信息披露统计研究报告》、《A股上市公司应对气候变化信息披露分析报告2021》的数据,截至2021年5月,主动披露ESG数据、碳足迹数据的上市公司分别仅有1092家,149家,在A股上市企业中占比分别为25%和3.6%。</p>\n<p>底层数据不够丰富,且真实性及可信度有待提高,那么可靠的评级体系也就难以构建。评级机构对于同一家公司的评级可能大相径庭,基金公司用的是自家的评价体系,选股标准不透明。</p>\n<p><b>至少在当下,国内的ESG投资多少有些自说自话的意味。</b></p>\n<p><b>所以为什么要买ESG基金</b></p>\n<p>目前,严格意义上的ESG投资在国内还是形大于实,但构建标准和生态的趋势是确定的。今年9月,证监会方面表示研究健全ESG信息披露制度已取得“阶段性成果”。ESG信息披露既要积极也要慎重,要借鉴国际最佳实践,充分考虑我国国情和发展阶段,积极稳妥进行。</p>\n<p>关于ESG投资之于碳中和、可持续发展的讨论很多。不过,对于普通投资者而言,这些似乎都有些“不接地气”。个体投资者最关心的是:买ESG基金到底有什么好处?或者更直白一些,ESG基金能不能让投资者赚到更多钱?</p>\n<p>一种常见的顾虑是:ESG限制了基金的投资范围、增加了投资成本。另外,上市公司如果在ESG上投入较多,利润表现难免受影响。那么投资于这类公司的ESG基金的收益也将承压。</p>\n<p>这种看法静态且片面。海内外均有投资实践和学术研究表明:<b>ESG之于上市公司和基金并不完全是压力,它带来了更好的风险控制,也提供了超额回报的可能。</b></p>\n<p><img src=\"https://static.tigerbbs.com/2989abd5a2bc4d07b09afed029a9f221\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p><a href=\"https://laohu8.com/S/601995\">中金公司</a>研究部认为,伴随着ESG投入的增加,企业利润可能出现先减后增再减的“倒S型”曲线,即早期ESG投入令企业支出增加,但ESG评分的上升带给企业的正向效用将逐渐抵消ESG的投入成本,与此同时,政府的针对性优惠政策也可以帮助企业降低ESG成本。而当企业的ESG评分提高到一定水平后,继续增加ESG投入的边际效应递减,收益曲线将再次下降。</p>\n<p>除了显性的利润指标,ESG之于上市公司也有不少隐性影响。比如,ESG投入较多且主动披露信息的公司,可以避免风险积累导致“黑天鹅”事件,良好的ESG表现也能帮助企业降低融资成本。</p>\n<p>对于基金方来说,ESG带来的好处是类似的。重视ESG投资策略让资管机构筛选出一批更优质的上市公司,这类公司风险识别能力更强,能在大幅波动的市场中凸显韧性,反映到基金净值表现上就是波动更小。</p>\n<p>在《ESG与企业经营、企业价值》报告中,<a href=\"https://laohu8.com/S/03908\">中金公司</a>研究部发现A股上市企业在新冠疫情期间的表现恰好有类似的特征:风险爆发当天跌幅越大的公司组,整体ESG评级越低。相对于低ESG公司,高ESG公司在面对系统性风险时韧性更强。</p>\n<p><b>对于ESG基金的投资者而言,这意味着更稳定的回报。</b>国际资本市场青睐ESG投资也是出于这样的逻辑,即ESG投资能够精选出具有长期价值回报的企业,基金回报中长期稳健、波动小,符合长期价值投资逻辑。</p>\n<p>风险控制之外,ESG投资也提供超额回报的可能性。2015年德意志资管公司和汉堡大学曾进行过一项关于ESG的全面文献综述,通过总结超过2000篇研究得出结论:无论定性还是定量,多数研究显示ESG指标与绩效呈正相关关系。</p>\n<p>具体到中国市场,根据秩鼎公司的研究报告,截至2021年6月30日,超过一半ESG公募基金成立以来收益率表现优于沪深300和中证500收益率,其中主动权益类产品获取超额收益概率大且较为稳定。</p>\n<p>考虑到不少基金产品相对年轻、国内ESG投资土壤尚未成熟,这些数据表现并不能说明太多。唯一可以确定的是,一种新的投资思路正在渗透市场:重视环境保护和社会责任不一定影响回报,相反,它是更符合当下的发展思路,不仅能带来好的名声,更可能带来真金白银。</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>ESG基金都在买什么?哦,还是白酒</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\">\nESG基金都在买什么?哦,还是白酒\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1038713350\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/f5b431abf34240f5bf6064f88f02fa9d);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">深响 </p>\n<p class=\"h-time\">2021-09-18 11:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>环境友好、商业道德、社会责任,所有的风一下子都吹向了ESG(环境、社会、公司治理)。</p>\n<p>从名字就能看出,ESG是个漂洋过海的概念。随着国内经济发展到一定阶段,市场和公众对于企业野蛮增长的态度也在转变,越来越多人开始关注:企业业务是否环保、赚钱的同时是否尽到该有的社会责任、员工是否得到应有的权益。</p>\n<p>叠加“碳中和”大趋势,ESG一下成为了资管机构的新宠,公司争相吆喝的概念。市场很热闹,但有些问题仍然没有好的回答:</p>\n<ul>\n <li><p>为什么宣称以ESG为投资策略的基金会重仓白酒?ESG基金选公司的时候遵循哪些标准?这些标准是自说自话还是行业共识?</p></li>\n <li><p>抛开那些高屋建瓴的展望,作为普通投资者,投资ESG基金的理由是什么,它到底能不能带来更好的收益?</p></li>\n</ul>\n<p><b>ESG基金重仓白酒,这合理吗?</b></p>\n<p>一切得先回到起点,回答“什么是ESG基金”?</p>\n<p>广义上讲,公募基金市场上早有与ESG相关的产品,但资管机构聚焦ESG概念,乃至把ESG作为产品名称要素,则是近年才有的事。</p>\n<p>ESG基金大致可以分为“泛ESG基金”和“ESG主题基金”:前者关心E、S、G中的某一项,一般会涉及可持续发展、社会责任、绿色生态、节能环保、公司治理等主题;后者同时考量E、S、G三个维度,其中将ESG作为主要投资策略的为“ESG投资主题基金”,将ESG作为参考的为“ESG概念主题基金”。</p>\n<p>显然,ESG主题基金“纯度”更高。根据秩鼎公司《2021年8月ESG资管产品研究报告》的统计,截至2021年7月31日,国内已发行ESG主题公募基金共80只,其中26只为ESG投资主题产品。从新增产品来看,近一年ESG主题公募基金产品的占比开始提升。</p>\n<p><b>趋势是明确的,ESG作为投资策略越来越重视,但如果看这些ESG基金的具体持仓,它们似乎都有些“口是心非”。</b></p>\n<p>以下面两只名字带有ESG的公募基金产品为例,根据二季报,第一只基金前十持仓中有4家白酒企业,白酒股在总持仓的占比超30%;第二只基金虽然白酒浓度相对较低,但前五持仓里也出现了两家白酒企业。</p>\n<p><img src=\"https://static.tigerbbs.com/2204d636fc4f4c15b49302f704c829f4\" tg-width=\"852\" tg-height=\"538\" referrerpolicy=\"no-referrer\"></p>\n<p>两只ESG公募基金产品的前十持仓情况|图源:天天基金网</p>\n<p>这不是个例。根据<a href=\"https://laohu8.com/S/600030\">中信证券</a>和秩鼎公司对公募基金季报的分析,ESG主题公募基金2021年一季度末前三大重仓股为<a href=\"https://laohu8.com/S/600519\">贵州茅台</a>、<a href=\"https://laohu8.com/S/00700\">腾讯控股</a>、<a href=\"https://laohu8.com/S/601888\">中国中免</a>;二季度末前三大重仓股为<a href=\"https://laohu8.com/S/300750\">宁德时代</a>、腾讯控股、贵州茅台。</p>\n<p><b>ESG基金爱喝酒,这既违背感性认知,也不太符合ESG的“社会责任”理念。</b>海外的ESG基金通常会将涉及酒精、赌博、烟草、核能以及武器制造的企业排除在外。</p>\n<p>但基金公司认为自己也有苦衷。一种辩解观点是,重视ESG理念不等于放弃收益,也不等于要对特定行业(白酒、军工)全盘否定,假如某个上市公司在该行业的ESG得分处于中上游,依然可以入选股票池。</p>\n<p><b>这便牵扯到了ESG评级的问题。尴尬的是,有些公司的ESG评级怎么看都算不上高。</b>贵州茅台在海外机构MSCI的最新ESG评级为“CCC”,在饮料行业的53家公司里处于落后位置。国内评级机构“商道融绿”和“中财绿金院”给茅台的评级也分别是低位的“B-”和“C”。</p>\n<p><b>还有一种尴尬的情况是,同一家公司,在不同机构得到ESG评级结果差别较大,这让ESG投资看上去方向模糊。</b>比如,<a href=\"https://laohu8.com/S/000858\">五粮液</a>在MSCI的ESG评级为“B”(仅比“CCC”高一档),“商道融绿”和“中财绿金院”则分别给了“A-”和“B”的评级。</p>\n<p><img src=\"https://static.tigerbbs.com/8b4e8ae751e948419c93fc1ab3cee71a\" tg-width=\"1080\" tg-height=\"336\" referrerpolicy=\"no-referrer\"></p>\n<p><img src=\"https://static.tigerbbs.com/8898e602e49640679cfc236a6b7a989a\" tg-width=\"1080\" tg-height=\"333\" referrerpolicy=\"no-referrer\"></p>\n<p>贵州茅台和五粮液在MSCI的ESG评级|图源:MSCI官网</p>\n<p>ESG基金“纯度”不高、“风格漂移“的情况并不少见。据财联社报道,有基金从业者表示,部分ESG产品为追求Alpha,会在产品的设计上做一些权重的调整,比如提高G(Governance)的比重,通过调整ESG三大维度的权重来实现产品业绩的优化。</p>\n<p><b>问题的根源在于缺少标准。</b>现阶段,不少基金公司用的是自建的ESG评级系统,打分标准参差,也没有对外披露的强制性规定。在首届“ESG全球领导者峰会”上,全国社会保障基金理事会副理事长陈文辉直言,“很难说基金经理是依据ESG评分选择企业,还是给想投的企业打出一个ESG高分”。</p>\n<p>在陈文辉看来,没有统一的评价体系,即使有再多ESG主题基金,ESG投资也是舍本逐末,很难发挥资本引导企业加强社会责任的作用。</p>\n<p>今日市场所看到的“割裂感”由此而生。行业需要标准,但这注定是个大工程。</p>\n<h2><b>标准制定路漫漫</b></h2>\n<p>无论上市公司、监管部门,还是第三方机构、基金公司层面,国内资本市场的ESG投资生态都是处于早期阶段。</p>\n<p>由于起步较早,海外资本市场形成了相对成熟的ESG投资生态,生态内有制定标准的国际组织和交易所,采用机器学习或NLP等方法处理非结构化数据的专项数据提供商、各大第三方评级机构、以及收集并结构化处理数据的数据集成方。</p>\n<p>一个理想的状态是:在ESG信息披露制度完善的情况下,上市公司所披露的信息充足,且受到第三方机构监督,主流ESG评级机构可以基于丰富信息搭建评级框架,最终在多方合力下形成ESG信息披露规范和相应的投资标准。</p>\n<p><img src=\"https://static.tigerbbs.com/ab39e95ac8594957bfc2975c5b1d414b\" tg-width=\"1042\" tg-height=\"622\" referrerpolicy=\"no-referrer\"></p>\n<p>中金:ESG投资系列(3):ESG评级“存异”但难“求同”|图源:中金量化</p>\n<p>但目前,国内的ESG信息披露制度尚处于谋划阶段,证监会并未强制要求上市公司披露自己的ESG报告,上市公司也没有足够的意愿披露ESG信息,即使有所披露,所披露信息的广度和质量也不足,且很少涉及负面信息。此外,不少上市公司管理层并不了解ESG评价逻辑、也不清楚如何提升ESG评级、如何把ESG投入纳入财务体系。</p>\n<p>根据《A股上市公司2020年度信息披露统计研究报告》、《A股上市公司应对气候变化信息披露分析报告2021》的数据,截至2021年5月,主动披露ESG数据、碳足迹数据的上市公司分别仅有1092家,149家,在A股上市企业中占比分别为25%和3.6%。</p>\n<p>底层数据不够丰富,且真实性及可信度有待提高,那么可靠的评级体系也就难以构建。评级机构对于同一家公司的评级可能大相径庭,基金公司用的是自家的评价体系,选股标准不透明。</p>\n<p><b>至少在当下,国内的ESG投资多少有些自说自话的意味。</b></p>\n<p><b>所以为什么要买ESG基金</b></p>\n<p>目前,严格意义上的ESG投资在国内还是形大于实,但构建标准和生态的趋势是确定的。今年9月,证监会方面表示研究健全ESG信息披露制度已取得“阶段性成果”。ESG信息披露既要积极也要慎重,要借鉴国际最佳实践,充分考虑我国国情和发展阶段,积极稳妥进行。</p>\n<p>关于ESG投资之于碳中和、可持续发展的讨论很多。不过,对于普通投资者而言,这些似乎都有些“不接地气”。个体投资者最关心的是:买ESG基金到底有什么好处?或者更直白一些,ESG基金能不能让投资者赚到更多钱?</p>\n<p>一种常见的顾虑是:ESG限制了基金的投资范围、增加了投资成本。另外,上市公司如果在ESG上投入较多,利润表现难免受影响。那么投资于这类公司的ESG基金的收益也将承压。</p>\n<p>这种看法静态且片面。海内外均有投资实践和学术研究表明:<b>ESG之于上市公司和基金并不完全是压力,它带来了更好的风险控制,也提供了超额回报的可能。</b></p>\n<p><img src=\"https://static.tigerbbs.com/2989abd5a2bc4d07b09afed029a9f221\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p><a href=\"https://laohu8.com/S/601995\">中金公司</a>研究部认为,伴随着ESG投入的增加,企业利润可能出现先减后增再减的“倒S型”曲线,即早期ESG投入令企业支出增加,但ESG评分的上升带给企业的正向效用将逐渐抵消ESG的投入成本,与此同时,政府的针对性优惠政策也可以帮助企业降低ESG成本。而当企业的ESG评分提高到一定水平后,继续增加ESG投入的边际效应递减,收益曲线将再次下降。</p>\n<p>除了显性的利润指标,ESG之于上市公司也有不少隐性影响。比如,ESG投入较多且主动披露信息的公司,可以避免风险积累导致“黑天鹅”事件,良好的ESG表现也能帮助企业降低融资成本。</p>\n<p>对于基金方来说,ESG带来的好处是类似的。重视ESG投资策略让资管机构筛选出一批更优质的上市公司,这类公司风险识别能力更强,能在大幅波动的市场中凸显韧性,反映到基金净值表现上就是波动更小。</p>\n<p>在《ESG与企业经营、企业价值》报告中,<a href=\"https://laohu8.com/S/03908\">中金公司</a>研究部发现A股上市企业在新冠疫情期间的表现恰好有类似的特征:风险爆发当天跌幅越大的公司组,整体ESG评级越低。相对于低ESG公司,高ESG公司在面对系统性风险时韧性更强。</p>\n<p><b>对于ESG基金的投资者而言,这意味着更稳定的回报。</b>国际资本市场青睐ESG投资也是出于这样的逻辑,即ESG投资能够精选出具有长期价值回报的企业,基金回报中长期稳健、波动小,符合长期价值投资逻辑。</p>\n<p>风险控制之外,ESG投资也提供超额回报的可能性。2015年德意志资管公司和汉堡大学曾进行过一项关于ESG的全面文献综述,通过总结超过2000篇研究得出结论:无论定性还是定量,多数研究显示ESG指标与绩效呈正相关关系。</p>\n<p>具体到中国市场,根据秩鼎公司的研究报告,截至2021年6月30日,超过一半ESG公募基金成立以来收益率表现优于沪深300和中证500收益率,其中主动权益类产品获取超额收益概率大且较为稳定。</p>\n<p>考虑到不少基金产品相对年轻、国内ESG投资土壤尚未成熟,这些数据表现并不能说明太多。唯一可以确定的是,一种新的投资思路正在渗透市场:重视环境保护和社会责任不一定影响回报,相反,它是更符合当下的发展思路,不仅能带来好的名声,更可能带来真金白银。</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/028f21b9e1187158e59b0f369bd94af2","relate_stocks":{"600519":"贵州茅台"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2168572881","content_text":"环境友好、商业道德、社会责任,所有的风一下子都吹向了ESG(环境、社会、公司治理)。\n从名字就能看出,ESG是个漂洋过海的概念。随着国内经济发展到一定阶段,市场和公众对于企业野蛮增长的态度也在转变,越来越多人开始关注:企业业务是否环保、赚钱的同时是否尽到该有的社会责任、员工是否得到应有的权益。\n叠加“碳中和”大趋势,ESG一下成为了资管机构的新宠,公司争相吆喝的概念。市场很热闹,但有些问题仍然没有好的回答:\n\n为什么宣称以ESG为投资策略的基金会重仓白酒?ESG基金选公司的时候遵循哪些标准?这些标准是自说自话还是行业共识?\n抛开那些高屋建瓴的展望,作为普通投资者,投资ESG基金的理由是什么,它到底能不能带来更好的收益?\n\nESG基金重仓白酒,这合理吗?\n一切得先回到起点,回答“什么是ESG基金”?\n广义上讲,公募基金市场上早有与ESG相关的产品,但资管机构聚焦ESG概念,乃至把ESG作为产品名称要素,则是近年才有的事。\nESG基金大致可以分为“泛ESG基金”和“ESG主题基金”:前者关心E、S、G中的某一项,一般会涉及可持续发展、社会责任、绿色生态、节能环保、公司治理等主题;后者同时考量E、S、G三个维度,其中将ESG作为主要投资策略的为“ESG投资主题基金”,将ESG作为参考的为“ESG概念主题基金”。\n显然,ESG主题基金“纯度”更高。根据秩鼎公司《2021年8月ESG资管产品研究报告》的统计,截至2021年7月31日,国内已发行ESG主题公募基金共80只,其中26只为ESG投资主题产品。从新增产品来看,近一年ESG主题公募基金产品的占比开始提升。\n趋势是明确的,ESG作为投资策略越来越重视,但如果看这些ESG基金的具体持仓,它们似乎都有些“口是心非”。\n以下面两只名字带有ESG的公募基金产品为例,根据二季报,第一只基金前十持仓中有4家白酒企业,白酒股在总持仓的占比超30%;第二只基金虽然白酒浓度相对较低,但前五持仓里也出现了两家白酒企业。\n\n两只ESG公募基金产品的前十持仓情况|图源:天天基金网\n这不是个例。根据中信证券和秩鼎公司对公募基金季报的分析,ESG主题公募基金2021年一季度末前三大重仓股为贵州茅台、腾讯控股、中国中免;二季度末前三大重仓股为宁德时代、腾讯控股、贵州茅台。\nESG基金爱喝酒,这既违背感性认知,也不太符合ESG的“社会责任”理念。海外的ESG基金通常会将涉及酒精、赌博、烟草、核能以及武器制造的企业排除在外。\n但基金公司认为自己也有苦衷。一种辩解观点是,重视ESG理念不等于放弃收益,也不等于要对特定行业(白酒、军工)全盘否定,假如某个上市公司在该行业的ESG得分处于中上游,依然可以入选股票池。\n这便牵扯到了ESG评级的问题。尴尬的是,有些公司的ESG评级怎么看都算不上高。贵州茅台在海外机构MSCI的最新ESG评级为“CCC”,在饮料行业的53家公司里处于落后位置。国内评级机构“商道融绿”和“中财绿金院”给茅台的评级也分别是低位的“B-”和“C”。\n还有一种尴尬的情况是,同一家公司,在不同机构得到ESG评级结果差别较大,这让ESG投资看上去方向模糊。比如,五粮液在MSCI的ESG评级为“B”(仅比“CCC”高一档),“商道融绿”和“中财绿金院”则分别给了“A-”和“B”的评级。\n\n\n贵州茅台和五粮液在MSCI的ESG评级|图源:MSCI官网\nESG基金“纯度”不高、“风格漂移“的情况并不少见。据财联社报道,有基金从业者表示,部分ESG产品为追求Alpha,会在产品的设计上做一些权重的调整,比如提高G(Governance)的比重,通过调整ESG三大维度的权重来实现产品业绩的优化。\n问题的根源在于缺少标准。现阶段,不少基金公司用的是自建的ESG评级系统,打分标准参差,也没有对外披露的强制性规定。在首届“ESG全球领导者峰会”上,全国社会保障基金理事会副理事长陈文辉直言,“很难说基金经理是依据ESG评分选择企业,还是给想投的企业打出一个ESG高分”。\n在陈文辉看来,没有统一的评价体系,即使有再多ESG主题基金,ESG投资也是舍本逐末,很难发挥资本引导企业加强社会责任的作用。\n今日市场所看到的“割裂感”由此而生。行业需要标准,但这注定是个大工程。\n标准制定路漫漫\n无论上市公司、监管部门,还是第三方机构、基金公司层面,国内资本市场的ESG投资生态都是处于早期阶段。\n由于起步较早,海外资本市场形成了相对成熟的ESG投资生态,生态内有制定标准的国际组织和交易所,采用机器学习或NLP等方法处理非结构化数据的专项数据提供商、各大第三方评级机构、以及收集并结构化处理数据的数据集成方。\n一个理想的状态是:在ESG信息披露制度完善的情况下,上市公司所披露的信息充足,且受到第三方机构监督,主流ESG评级机构可以基于丰富信息搭建评级框架,最终在多方合力下形成ESG信息披露规范和相应的投资标准。\n\n中金:ESG投资系列(3):ESG评级“存异”但难“求同”|图源:中金量化\n但目前,国内的ESG信息披露制度尚处于谋划阶段,证监会并未强制要求上市公司披露自己的ESG报告,上市公司也没有足够的意愿披露ESG信息,即使有所披露,所披露信息的广度和质量也不足,且很少涉及负面信息。此外,不少上市公司管理层并不了解ESG评价逻辑、也不清楚如何提升ESG评级、如何把ESG投入纳入财务体系。\n根据《A股上市公司2020年度信息披露统计研究报告》、《A股上市公司应对气候变化信息披露分析报告2021》的数据,截至2021年5月,主动披露ESG数据、碳足迹数据的上市公司分别仅有1092家,149家,在A股上市企业中占比分别为25%和3.6%。\n底层数据不够丰富,且真实性及可信度有待提高,那么可靠的评级体系也就难以构建。评级机构对于同一家公司的评级可能大相径庭,基金公司用的是自家的评价体系,选股标准不透明。\n至少在当下,国内的ESG投资多少有些自说自话的意味。\n所以为什么要买ESG基金\n目前,严格意义上的ESG投资在国内还是形大于实,但构建标准和生态的趋势是确定的。今年9月,证监会方面表示研究健全ESG信息披露制度已取得“阶段性成果”。ESG信息披露既要积极也要慎重,要借鉴国际最佳实践,充分考虑我国国情和发展阶段,积极稳妥进行。\n关于ESG投资之于碳中和、可持续发展的讨论很多。不过,对于普通投资者而言,这些似乎都有些“不接地气”。个体投资者最关心的是:买ESG基金到底有什么好处?或者更直白一些,ESG基金能不能让投资者赚到更多钱?\n一种常见的顾虑是:ESG限制了基金的投资范围、增加了投资成本。另外,上市公司如果在ESG上投入较多,利润表现难免受影响。那么投资于这类公司的ESG基金的收益也将承压。\n这种看法静态且片面。海内外均有投资实践和学术研究表明:ESG之于上市公司和基金并不完全是压力,它带来了更好的风险控制,也提供了超额回报的可能。\n\n中金公司研究部认为,伴随着ESG投入的增加,企业利润可能出现先减后增再减的“倒S型”曲线,即早期ESG投入令企业支出增加,但ESG评分的上升带给企业的正向效用将逐渐抵消ESG的投入成本,与此同时,政府的针对性优惠政策也可以帮助企业降低ESG成本。而当企业的ESG评分提高到一定水平后,继续增加ESG投入的边际效应递减,收益曲线将再次下降。\n除了显性的利润指标,ESG之于上市公司也有不少隐性影响。比如,ESG投入较多且主动披露信息的公司,可以避免风险积累导致“黑天鹅”事件,良好的ESG表现也能帮助企业降低融资成本。\n对于基金方来说,ESG带来的好处是类似的。重视ESG投资策略让资管机构筛选出一批更优质的上市公司,这类公司风险识别能力更强,能在大幅波动的市场中凸显韧性,反映到基金净值表现上就是波动更小。\n在《ESG与企业经营、企业价值》报告中,中金公司研究部发现A股上市企业在新冠疫情期间的表现恰好有类似的特征:风险爆发当天跌幅越大的公司组,整体ESG评级越低。相对于低ESG公司,高ESG公司在面对系统性风险时韧性更强。\n对于ESG基金的投资者而言,这意味着更稳定的回报。国际资本市场青睐ESG投资也是出于这样的逻辑,即ESG投资能够精选出具有长期价值回报的企业,基金回报中长期稳健、波动小,符合长期价值投资逻辑。\n风险控制之外,ESG投资也提供超额回报的可能性。2015年德意志资管公司和汉堡大学曾进行过一项关于ESG的全面文献综述,通过总结超过2000篇研究得出结论:无论定性还是定量,多数研究显示ESG指标与绩效呈正相关关系。\n具体到中国市场,根据秩鼎公司的研究报告,截至2021年6月30日,超过一半ESG公募基金成立以来收益率表现优于沪深300和中证500收益率,其中主动权益类产品获取超额收益概率大且较为稳定。\n考虑到不少基金产品相对年轻、国内ESG投资土壤尚未成熟,这些数据表现并不能说明太多。唯一可以确定的是,一种新的投资思路正在渗透市场:重视环境保护和社会责任不一定影响回报,相反,它是更符合当下的发展思路,不仅能带来好的名声,更可能带来真金白银。","news_type":1},"isVote":1,"tweetType":1,"viewCount":801,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":812327901,"gmtCreate":1630555185103,"gmtModify":1632472872003,"author":{"id":"4087770624341400","authorId":"4087770624341400","name":"hintua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09:38","market":"hk","language":"zh","title":"恒生科技指数涨超3%,快手-W涨超8%","url":"https://stock-news.laohu8.com/highlight/detail?id=1103104082","media":"老虎资讯综合","summary":"9月2日,恒生科技指数涨超3%,快手-W涨超8%,哔哩哔哩-SW涨超5%,腾讯控股、阿里巴巴-SW涨超3%","content":"<p>9月2日,恒生科技指数涨超3%,<a href=\"https://laohu8.com/S/01024\">快手-W</a>涨超8%,<a href=\"https://laohu8.com/S/09626\">哔哩哔哩-SW</a>涨超5%,<a href=\"https://laohu8.com/S/00700\">腾讯控股</a>、<a href=\"https://laohu8.com/S/09988\">阿里巴巴-SW</a>涨超3%</p>\n<p><img src=\"https://static.tigerbbs.com/c2584c022a7ffe8913f657018f628752\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></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>恒生科技指数涨超3%,快手-W涨超8%</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恒生科技指数涨超3%,快手-W涨超8%\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\">2021-09-02 09:38</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>9月2日,恒生科技指数涨超3%,<a href=\"https://laohu8.com/S/01024\">快手-W</a>涨超8%,<a href=\"https://laohu8.com/S/09626\">哔哩哔哩-SW</a>涨超5%,<a href=\"https://laohu8.com/S/00700\">腾讯控股</a>、<a href=\"https://laohu8.com/S/09988\">阿里巴巴-SW</a>涨超3%</p>\n<p><img src=\"https://static.tigerbbs.com/c2584c022a7ffe8913f657018f628752\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5d1fe578ee46cbe0d24c33435ff25ae5","relate_stocks":{"09988":"阿里巴巴-W","TCEHY":"腾讯控股ADR","01024":"快手-W","09626":"哔哩哔哩-W","00700":"腾讯控股"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103104082","content_text":"9月2日,恒生科技指数涨超3%,快手-W涨超8%,哔哩哔哩-SW涨超5%,腾讯控股、阿里巴巴-SW涨超3%","news_type":1},"isVote":1,"tweetType":1,"viewCount":1180,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":812324652,"gmtCreate":1630555147676,"gmtModify":1632472880944,"author":{"id":"4087770624341400","authorId":"4087770624341400","name":"hintuang","avatar":"https://static.tigerbbs.com/659d9777dc4ea3d38a46980a74ae3d8c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087770624341400","authorIdStr":"4087770624341400"},"themes":[],"htmlText":"可以吗[微笑] [开心] ","listText":"可以吗[微笑] [开心] ","text":"可以吗[微笑] [开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/812324652","repostId":"2164889114","repostType":2,"repost":{"id":"2164889114","kind":"news","pubTimestamp":1630490705,"share":"https://www.laohu8.com/m/news/2164889114?lang=&edition=full","pubTime":"2021-09-01 18:05","market":"hk","language":"zh","title":"智通每日大行研报丨赣锋锂业(01772)获高盛及美银一致唱好 目标价最高看至230港元","url":"https://stock-news.laohu8.com/highlight/detail?id=2164889114","media":"智通财经","summary":"赣锋锂业上半年净利润同比增836% 目标价最高看至230港元高盛:维持赣锋锂业“买入”评级 目标价升64.2%至230港元高盛称,赣锋锂业可受惠于全球电动汽车市场强劲增长,将2021-25年全球锂需求预测上调8%至14%,将2030-40年需求预测上调13%至14%。美银证券:重申赣锋锂业“买入”评级 目标价升5%至210港元美银证券称,上调赣锋锂业2021-23年盈利预期5%-6%。报告中称,公司目标是2025年自主品牌销量达到100万辆,包括传祺60万辆和埃安40万辆。","content":"<html><body><p>智通提示:</p><p>富瑞称,<a href=\"https://laohu8.com/S/09999\">网易-S</a>(09999)第二季收入符市场预期,胜该行预期,而盈利因优于预期的毛利率而胜预期。</p><p><a href=\"https://laohu8.com/S/HSBC\">汇丰</a>研究称,调升<a href=\"https://laohu8.com/S/03396\">联想控股</a>(03396)今年至2023年的盈利预测17%至18%,以反映<a href=\"https://laohu8.com/S/GS\">高盛</a>增长预测的提高。</p><p>高盛称,<a href=\"https://laohu8.com/S/002460\">赣锋锂业</a>(01772)可受惠于全球电动汽车市场强劲增长,将2021-25年全球锂需求预测上调8%至14%,将2030-40年需求预测上调13%至14%。</p><p><a href=\"https://laohu8.com/S/C\">花旗</a>称,<a href=\"https://laohu8.com/S/601390\">中国中铁</a>(00390)今年二季度业绩较预期略为逊色,对其盈利前景维持审慎,下半年盈利预计同比持平。</p><p>大和认为,长线投资者可选择<a href=\"https://laohu8.com/S/06865\">福莱特玻璃</a>(06865),估计公司2020-23年的容量复合年均增长率高达58%。</p><p><img src=\"https://img.zhitongcaijing.com/image/20210901/1630487143785441.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1630487143785441.png\"/></p><p>富瑞:维持<a href=\"https://laohu8.com/S/NTES\">网易</a>-S(09999)“买入”评级 目标价197港元</p><p>富瑞称,网易-S(09999)第二季收入符市场预期,胜该行预期,而盈利因优于预期的毛利率而胜预期。该行指,网易次季纯利升13%至205亿元人民币(下同),线上游戏业务收入同比升5%至145亿元;<a href=\"https://laohu8.com/S/DAO\">有道</a>收入同比升1.08倍至13亿元;创新及其他业务收入同比升26%至47亿元。</p><p>汇丰研究:维持联想控股(03396)“买入”评级 目标价升7%至16.8港元</p><p>汇丰研究称,调升联想控股(03396)今年至2023年的盈利预测17%至18%,以反映<a href=\"https://laohu8.com/S/00992\">联想集团</a>(00992)的增长预测提高。报告中称,公司上半年业绩较预期强劲,收入2290亿元人民币,同比增长24%,纯利则为47亿元人民币,同比升636%。纯利增长主要由于IT业务的利润率增加、财务投资业务的基金有更佳表现。</p><p><a href=\"https://laohu8.com/S/01772\">赣锋锂业</a>(01772)上半年净利润同比增836% 目标价最高看至230港元</p><p><strong>高盛:维持赣锋锂业(01772)“买入”评级 目标价升64.2%至230港元</strong></p><p>高盛称,赣锋锂业(01772)可受惠于全球电动汽车市场强劲增长,将2021-25年全球锂需求预测上调8%至14%,将2030-40年需求预测上调13%至14%。公司最近宣布扩张及收购计划,基于锂价预测提升,将公司2021至2025年经常性净利润预测上调35%至62%。</p><p>报告中称,公司上半年经常性净利润为9.88亿元人民币,比该行预期高出53%,主要来自于生产成本改善。该行将其2021-25年碳酸锂中国现货价值预测上调4%至7%至每吨1.23万至1.45万美元,氢氧化锂价格预测上调9%至23%,以反映全球锂供需平衡趋紧。</p><p><strong>美银证券:重申赣锋锂业(01772)“买入”评级 目标价升5%至210港元</strong></p><p>美银证券称,上调赣锋锂业(01772)2021-23年盈利预期5%-6%。公司今年上半年净利润同比增836%,符其盈喜预期,也相等于该行全年预期盈利的45%,或其他券商预期的56%。</p><p>该行指,公司盈利增长主要来自均价上升、财务资产公允值上升,公司今年第二季净利润同比增98%,当中包括一次性因素。公司首季旗下Li2CO3的销量收窄,因生产线于2月进行调整,而第二季有关因素已消除。</p><p>花旗:维持<a href=\"https://laohu8.com/S/00390\">中国中铁</a>(00390)“买入”评级 目标价降9.7%至6.5港元</p><p>花旗称,中国中铁(00390)今年第二季业绩较预期略为逊色,加上越来越多内房政策出台,对盈利前景维持审慎,预计下半年盈利同比持平,并预计其庞大积压订单,可支持较佳盈利可见度。</p><p>报告中称,公司上半年业绩跑输同业,在去年同期低基数下,纯利仅升12%,属内地同业增长中最低之列;换言之,次季纯利同比跌15%,属唯一次季盈利下跌的主要基建商。该行预计,归因于上半年中铁收入增长逊同业,以及去年同期表现跑赢同业,构成更高比较基数。该行强调,<a href=\"https://laohu8.com/S/03311\">中国建筑国际</a>(03311)属该行于内地基建行业的首选。</p><p>大和:维持<a href=\"https://laohu8.com/S/601865\">福莱特</a>玻璃(06865)“买入”评级 目标价升100%至50港元</p><p>大和称,基于光伏玻璃平均售价较高的假设,上调福莱特玻璃(06865)2021-23年每股盈利预测15%至27%。该行预期,2021-23年<a href=\"https://laohu8.com/S/000591\">太阳能</a>玻璃毛利率维持稳定,介于33%至39%,同时平均售价触底回升至每平方米22元人民币,因此估计公司2020-23年的容量复合年均增长率高达58%,而<a href=\"https://laohu8.com/S/00968\">信义光能</a>(00968)为35%。该行认为,长线投资者可选择福莱特玻璃。</p><p>美银证券:重申<a href=\"https://laohu8.com/S/601238\">广汽集团</a>(02238)“中性”评级 目标价升12.1%至9.2港元</p><p>美银证券称,重申<a href=\"https://laohu8.com/S/02238\">广汽集团</a>(02238)“中性”评级,目标价由8.2港元上调至9.2港元,因为电动车动力系统、<a href=\"https://laohu8.com/S/5RE.SI\">智能</a>座舱、自动驾驶和埃安品牌的支出增加,以及广汽旗下合资公司的电动车销量增加将摊薄利润。</p><p>报告中称,公司目标是2025年自主品牌销量达到100万辆,包括传祺60万辆和埃安40万辆。基于新的平均售价假设,将2021-23年的销售预测分别提高10%/12%/13%。因此2021-23年的每股盈利预测分别提高3%/5%/4%。</p></body></html>","source":"stock_zhitongcaijing","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>智通每日大行研报丨赣锋锂业(01772)获高盛及美银一致唱好 目标价最高看至230港元</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智通每日大行研报丨赣锋锂业(01772)获高盛及美银一致唱好 目标价最高看至230港元\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-01 18:05 北京时间 <a href=http://www.zhitongcaijing.com/content/detail/552354.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>智通提示:富瑞称,网易-S(09999)第二季收入符市场预期,胜该行预期,而盈利因优于预期的毛利率而胜预期。汇丰研究称,调升联想控股(03396)今年至2023年的盈利预测17%至18%,以反映高盛增长预测的提高。高盛称,赣锋锂业(01772)可受惠于全球电动汽车市场强劲增长,将2021-25年全球锂需求预测上调8%至14%,将2030-40年需求预测上调13%至14%。花旗称,中国中铁(...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/552354.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c4a03a5ae5cfc1aad727ce9e6d2b27bb","relate_stocks":{"03396":"联想控股","06865":"福莱特玻璃","09999":"网易-S","01772":"赣锋锂业","002460":"赣锋锂业","00390":"中国中铁"},"source_url":"http://www.zhitongcaijing.com/content/detail/552354.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164889114","content_text":"智通提示:富瑞称,网易-S(09999)第二季收入符市场预期,胜该行预期,而盈利因优于预期的毛利率而胜预期。汇丰研究称,调升联想控股(03396)今年至2023年的盈利预测17%至18%,以反映高盛增长预测的提高。高盛称,赣锋锂业(01772)可受惠于全球电动汽车市场强劲增长,将2021-25年全球锂需求预测上调8%至14%,将2030-40年需求预测上调13%至14%。花旗称,中国中铁(00390)今年二季度业绩较预期略为逊色,对其盈利前景维持审慎,下半年盈利预计同比持平。大和认为,长线投资者可选择福莱特玻璃(06865),估计公司2020-23年的容量复合年均增长率高达58%。富瑞:维持网易-S(09999)“买入”评级 目标价197港元富瑞称,网易-S(09999)第二季收入符市场预期,胜该行预期,而盈利因优于预期的毛利率而胜预期。该行指,网易次季纯利升13%至205亿元人民币(下同),线上游戏业务收入同比升5%至145亿元;有道收入同比升1.08倍至13亿元;创新及其他业务收入同比升26%至47亿元。汇丰研究:维持联想控股(03396)“买入”评级 目标价升7%至16.8港元汇丰研究称,调升联想控股(03396)今年至2023年的盈利预测17%至18%,以反映联想集团(00992)的增长预测提高。报告中称,公司上半年业绩较预期强劲,收入2290亿元人民币,同比增长24%,纯利则为47亿元人民币,同比升636%。纯利增长主要由于IT业务的利润率增加、财务投资业务的基金有更佳表现。赣锋锂业(01772)上半年净利润同比增836% 目标价最高看至230港元高盛:维持赣锋锂业(01772)“买入”评级 目标价升64.2%至230港元高盛称,赣锋锂业(01772)可受惠于全球电动汽车市场强劲增长,将2021-25年全球锂需求预测上调8%至14%,将2030-40年需求预测上调13%至14%。公司最近宣布扩张及收购计划,基于锂价预测提升,将公司2021至2025年经常性净利润预测上调35%至62%。报告中称,公司上半年经常性净利润为9.88亿元人民币,比该行预期高出53%,主要来自于生产成本改善。该行将其2021-25年碳酸锂中国现货价值预测上调4%至7%至每吨1.23万至1.45万美元,氢氧化锂价格预测上调9%至23%,以反映全球锂供需平衡趋紧。美银证券:重申赣锋锂业(01772)“买入”评级 目标价升5%至210港元美银证券称,上调赣锋锂业(01772)2021-23年盈利预期5%-6%。公司今年上半年净利润同比增836%,符其盈喜预期,也相等于该行全年预期盈利的45%,或其他券商预期的56%。该行指,公司盈利增长主要来自均价上升、财务资产公允值上升,公司今年第二季净利润同比增98%,当中包括一次性因素。公司首季旗下Li2CO3的销量收窄,因生产线于2月进行调整,而第二季有关因素已消除。花旗:维持中国中铁(00390)“买入”评级 目标价降9.7%至6.5港元花旗称,中国中铁(00390)今年第二季业绩较预期略为逊色,加上越来越多内房政策出台,对盈利前景维持审慎,预计下半年盈利同比持平,并预计其庞大积压订单,可支持较佳盈利可见度。报告中称,公司上半年业绩跑输同业,在去年同期低基数下,纯利仅升12%,属内地同业增长中最低之列;换言之,次季纯利同比跌15%,属唯一次季盈利下跌的主要基建商。该行预计,归因于上半年中铁收入增长逊同业,以及去年同期表现跑赢同业,构成更高比较基数。该行强调,中国建筑国际(03311)属该行于内地基建行业的首选。大和:维持福莱特玻璃(06865)“买入”评级 目标价升100%至50港元大和称,基于光伏玻璃平均售价较高的假设,上调福莱特玻璃(06865)2021-23年每股盈利预测15%至27%。该行预期,2021-23年太阳能玻璃毛利率维持稳定,介于33%至39%,同时平均售价触底回升至每平方米22元人民币,因此估计公司2020-23年的容量复合年均增长率高达58%,而信义光能(00968)为35%。该行认为,长线投资者可选择福莱特玻璃。美银证券:重申广汽集团(02238)“中性”评级 目标价升12.1%至9.2港元美银证券称,重申广汽集团(02238)“中性”评级,目标价由8.2港元上调至9.2港元,因为电动车动力系统、智能座舱、自动驾驶和埃安品牌的支出增加,以及广汽旗下合资公司的电动车销量增加将摊薄利润。报告中称,公司目标是2025年自主品牌销量达到100万辆,包括传祺60万辆和埃安40万辆。基于新的平均售价假设,将2021-23年的销售预测分别提高10%/12%/13%。因此2021-23年的每股盈利预测分别提高3%/5%/4%。","news_type":1},"isVote":1,"tweetType":1,"viewCount":733,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":812325722,"gmtCreate":1630555116466,"gmtModify":1632472883931,"author":{"id":"4087770624341400","authorId":"4087770624341400","name":"hintuang","avatar":"https://static.tigerbbs.com/659d9777dc4ea3d38a46980a74ae3d8c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087770624341400","authorIdStr":"4087770624341400"},"themes":[],"htmlText":"[微笑] [微笑] ","listText":"[微笑] [微笑] ","text":"[微笑] [微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/812325722","repostId":"1170877267","repostType":4,"repost":{"id":"1170877267","kind":"news","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":1630506252,"share":"https://www.laohu8.com/m/news/1170877267?lang=&edition=full","pubTime":"2021-09-01 22:24","market":"us","language":"zh","title":"热门中概股盘中集体拉升,拼多多涨近9%","url":"https://stock-news.laohu8.com/highlight/detail?id=1170877267","media":"老虎资讯综合","summary":"周三,热门中概股盘中集体拉升。截至发稿,拼多多涨近9%,爱奇艺涨超8%,哔哩哔哩、新东方、滴滴涨超7%,阿里巴巴、贝壳涨4%。","content":"<p>周三,热门中概股盘中集体拉升。截至发稿,<a href=\"https://laohu8.com/S/PDD\">拼多多</a>涨近9%,<a href=\"https://laohu8.com/S/IQ\">爱奇艺</a>涨超8%,<a href=\"https://laohu8.com/S/BILI\">哔哩哔哩</a>、<a href=\"https://laohu8.com/S/EDU\">新东方</a>、<a href=\"https://laohu8.com/S/DIDI\">滴滴</a>涨超7%,<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>、<a href=\"https://laohu8.com/S/BEKE\">贝壳</a>涨4%。</p>\n<p><img src=\"https://static.tigerbbs.com/f78e550ae6b6f37193fc364d410cd2b7\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></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>热门中概股盘中集体拉升,拼多多涨近9%</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热门中概股盘中集体拉升,拼多多涨近9%\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\">2021-09-01 22:24</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>周三,热门中概股盘中集体拉升。截至发稿,<a href=\"https://laohu8.com/S/PDD\">拼多多</a>涨近9%,<a href=\"https://laohu8.com/S/IQ\">爱奇艺</a>涨超8%,<a href=\"https://laohu8.com/S/BILI\">哔哩哔哩</a>、<a href=\"https://laohu8.com/S/EDU\">新东方</a>、<a href=\"https://laohu8.com/S/DIDI\">滴滴</a>涨超7%,<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>、<a href=\"https://laohu8.com/S/BEKE\">贝壳</a>涨4%。</p>\n<p><img src=\"https://static.tigerbbs.com/f78e550ae6b6f37193fc364d410cd2b7\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e42c16a083ab273c19aaae21cdb697a0","relate_stocks":{"PDD":"拼多多","QNETCN":"纳斯达克中美互联网老虎指数"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170877267","content_text":"周三,热门中概股盘中集体拉升。截至发稿,拼多多涨近9%,爱奇艺涨超8%,哔哩哔哩、新东方、滴滴涨超7%,阿里巴巴、贝壳涨4%。","news_type":1},"isVote":1,"tweetType":1,"viewCount":996,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":812326384,"gmtCreate":1630554882248,"gmtModify":1632472889943,"author":{"id":"4087770624341400","authorId":"4087770624341400","name":"hintuang","avatar":"https://static.tigerbbs.com/659d9777dc4ea3d38a46980a74ae3d8c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087770624341400","authorIdStr":"4087770624341400"},"themes":[],"htmlText":"好好[微笑] ","listText":"好好[微笑] ","text":"好好[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/812326384","repostId":"1104241463","repostType":4,"isVote":1,"tweetType":1,"viewCount":758,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":818379627,"gmtCreate":1630379655869,"gmtModify":1704959418606,"author":{"id":"4087770624341400","authorId":"4087770624341400","name":"hintuang","avatar":"https://static.tigerbbs.com/659d9777dc4ea3d38a46980a74ae3d8c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087770624341400","authorIdStr":"4087770624341400"},"themes":[],"htmlText":"早上好[微笑] ","listText":"早上好[微笑] ","text":"早上好[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/818379627","repostId":"1161821102","repostType":4,"repost":{"id":"1161821102","kind":"news","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":1630367862,"share":"https://www.laohu8.com/m/news/1161821102?lang=&edition=full","pubTime":"2021-08-31 07:57","market":"hk","language":"zh","title":"海伦司今起招股,入场费约10464.4港元","url":"https://stock-news.laohu8.com/highlight/detail?id=1161821102","media":"老虎资讯综合","summary":"8月31日,海伦司发布公告,公司拟全球发售1.3465亿股股份,其中香港发售股份1346.5万股,国际发售股份1.21185亿股,另有15%超额配股权;2021年8月31日至9月3日招股,预期定价日为","content":"<p>8月31日,<a href=\"https://laohu8.com/S/09869\">海伦司</a>发布公告,公司拟全球发售1.3465亿股股份,其中香港发售股份1346.5万股,国际发售股份1.21185亿股,另有15%超额配股权;2021年8月31日至9月3日招股,预期定价日为9月3日;发售价每股发售股份18.82港元-20.72港元,每手买卖单位500股,入场费约10464.4港元;<a href=\"https://laohu8.com/S/601995\">中金公司</a>为独家保荐人;预期股份将于2021年9月10日于联交所主板挂牌上市。</p>\n<p><img src=\"https://static.tigerbbs.com/3fdb0b717e3c80ba38d61ea90a31d4e3\" tg-width=\"906\" tg-height=\"761\" referrerpolicy=\"no-referrer\"></p>\n<p><b>申购阶梯:</b></p>\n<p>每手500股,入场费10464.4港元。</p>\n<p>乙组门槛为30万股,申购所需资金约6278638.63港元。</p>\n<p><img src=\"https://static.tigerbbs.com/2a5718e75ddbb105de687bf77f251700\" tg-width=\"919\" tg-height=\"647\" referrerpolicy=\"no-referrer\"></p>\n<p>集团是中国最大的连锁酒馆网络。2020年,按收入计,集团在中国酒馆行业中排名第一,占据1.1%的市场份额。根据弗若斯特沙利文的资料,以酒馆数量计,集团于2018年、2019年及2020年以及截至2021年3月31日止三个月在中国酒馆行业中保持市场领导地位。借助高度标准化的运营模式,集团酒馆网络的规模于往绩记录期间快速扩张。截至2018年、2019年、2020年12月31日及2021年3月31日,集团酒馆网络中的酒馆总数分别为162家、252家、351家及374家,并进一步增加至截至最后实际可行日期的528家。集团一直以“Helen’s(海伦司)”品牌经营酒馆,截至最后实际可行日期,在中国一线、二线及三线及以下城市的Helen’s酒馆数分别为66家、296家及165家,分别占截至同日酒馆总数量的12.5%、56.1%及31.3%。</p>\n<p>假设发售价为每股发售股份19.77港元(即本招股章程所述发售价范围的中位数),集团将收到的全球发售估计所得款项净额25.129亿港元。其中,所得款项净额约70.0%将被用于在未来三年开设新酒馆及实现集团的扩张计划;约10.0%将用于进一步加强公司酒馆的人才梯队建设,以优化人力资源管理体系;约5.0%将用于进一步加强酒馆的基础能力建设;约5.0%将用于进一步强化Helen’s的品牌知名度;及余下约10.0%将用作营运资金及一般企业用途。</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>海伦司今起招股,入场费约10464.4港元</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n海伦司今起招股,入场费约10464.4港元\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\">2021-08-31 07:57</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>8月31日,<a href=\"https://laohu8.com/S/09869\">海伦司</a>发布公告,公司拟全球发售1.3465亿股股份,其中香港发售股份1346.5万股,国际发售股份1.21185亿股,另有15%超额配股权;2021年8月31日至9月3日招股,预期定价日为9月3日;发售价每股发售股份18.82港元-20.72港元,每手买卖单位500股,入场费约10464.4港元;<a href=\"https://laohu8.com/S/601995\">中金公司</a>为独家保荐人;预期股份将于2021年9月10日于联交所主板挂牌上市。</p>\n<p><img src=\"https://static.tigerbbs.com/3fdb0b717e3c80ba38d61ea90a31d4e3\" tg-width=\"906\" tg-height=\"761\" referrerpolicy=\"no-referrer\"></p>\n<p><b>申购阶梯:</b></p>\n<p>每手500股,入场费10464.4港元。</p>\n<p>乙组门槛为30万股,申购所需资金约6278638.63港元。</p>\n<p><img src=\"https://static.tigerbbs.com/2a5718e75ddbb105de687bf77f251700\" tg-width=\"919\" tg-height=\"647\" referrerpolicy=\"no-referrer\"></p>\n<p>集团是中国最大的连锁酒馆网络。2020年,按收入计,集团在中国酒馆行业中排名第一,占据1.1%的市场份额。根据弗若斯特沙利文的资料,以酒馆数量计,集团于2018年、2019年及2020年以及截至2021年3月31日止三个月在中国酒馆行业中保持市场领导地位。借助高度标准化的运营模式,集团酒馆网络的规模于往绩记录期间快速扩张。截至2018年、2019年、2020年12月31日及2021年3月31日,集团酒馆网络中的酒馆总数分别为162家、252家、351家及374家,并进一步增加至截至最后实际可行日期的528家。集团一直以“Helen’s(海伦司)”品牌经营酒馆,截至最后实际可行日期,在中国一线、二线及三线及以下城市的Helen’s酒馆数分别为66家、296家及165家,分别占截至同日酒馆总数量的12.5%、56.1%及31.3%。</p>\n<p>假设发售价为每股发售股份19.77港元(即本招股章程所述发售价范围的中位数),集团将收到的全球发售估计所得款项净额25.129亿港元。其中,所得款项净额约70.0%将被用于在未来三年开设新酒馆及实现集团的扩张计划;约10.0%将用于进一步加强公司酒馆的人才梯队建设,以优化人力资源管理体系;约5.0%将用于进一步加强酒馆的基础能力建设;约5.0%将用于进一步强化Helen’s的品牌知名度;及余下约10.0%将用作营运资金及一般企业用途。</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/6b69e234a63c2c0a69ccede7b0faaa18","relate_stocks":{"09869":"海伦司"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1161821102","content_text":"8月31日,海伦司发布公告,公司拟全球发售1.3465亿股股份,其中香港发售股份1346.5万股,国际发售股份1.21185亿股,另有15%超额配股权;2021年8月31日至9月3日招股,预期定价日为9月3日;发售价每股发售股份18.82港元-20.72港元,每手买卖单位500股,入场费约10464.4港元;中金公司为独家保荐人;预期股份将于2021年9月10日于联交所主板挂牌上市。\n\n申购阶梯:\n每手500股,入场费10464.4港元。\n乙组门槛为30万股,申购所需资金约6278638.63港元。\n\n集团是中国最大的连锁酒馆网络。2020年,按收入计,集团在中国酒馆行业中排名第一,占据1.1%的市场份额。根据弗若斯特沙利文的资料,以酒馆数量计,集团于2018年、2019年及2020年以及截至2021年3月31日止三个月在中国酒馆行业中保持市场领导地位。借助高度标准化的运营模式,集团酒馆网络的规模于往绩记录期间快速扩张。截至2018年、2019年、2020年12月31日及2021年3月31日,集团酒馆网络中的酒馆总数分别为162家、252家、351家及374家,并进一步增加至截至最后实际可行日期的528家。集团一直以“Helen’s(海伦司)”品牌经营酒馆,截至最后实际可行日期,在中国一线、二线及三线及以下城市的Helen’s酒馆数分别为66家、296家及165家,分别占截至同日酒馆总数量的12.5%、56.1%及31.3%。\n假设发售价为每股发售股份19.77港元(即本招股章程所述发售价范围的中位数),集团将收到的全球发售估计所得款项净额25.129亿港元。其中,所得款项净额约70.0%将被用于在未来三年开设新酒馆及实现集团的扩张计划;约10.0%将用于进一步加强公司酒馆的人才梯队建设,以优化人力资源管理体系;约5.0%将用于进一步加强酒馆的基础能力建设;约5.0%将用于进一步强化Helen’s的品牌知名度;及余下约10.0%将用作营运资金及一般企业用途。","news_type":1},"isVote":1,"tweetType":1,"viewCount":1151,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":810018995,"gmtCreate":1629934498117,"gmtModify":1633681417048,"author":{"id":"4087770624341400","authorId":"4087770624341400","name":"hintuang","avatar":"https://static.tigerbbs.com/659d9777dc4ea3d38a46980a74ae3d8c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087770624341400","authorIdStr":"4087770624341400"},"themes":[],"htmlText":"[微笑] ","listText":"[微笑] ","text":"[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/810018995","repostId":"2162681000","repostType":4,"repost":{"id":"2162681000","kind":"news","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":1629932400,"share":"https://www.laohu8.com/m/news/2162681000?lang=&edition=full","pubTime":"2021-08-26 07:00","market":"hk","language":"zh","title":"Snowflake财报超预期,盘后股价涨逾3%","url":"https://stock-news.laohu8.com/highlight/detail?id=2162681000","media":"老虎资讯综合","summary":"美东时间8月25日周三美股盘后,Snowflake公布了2022财年第二季度业绩。财报显示,Snowflake第二季度营收2.72亿美元,同比增长104%,超出市场预期的2.57亿美元。Snowflake第二季度产品收入2.546亿美元,同比增长103%,市场预期为2.4亿美元;专业服务和其他收入为1757.5万美元。截至2021年7月31日,Snowflake持有的现金及现金等价物为6.99亿美元。Snowflake预计第三季度产品收入为2.8-2.85亿美元,同比增长89-92%;预计本财年产品收入为10.6亿至10.7亿亿美元,同比增长91-93%,超出市场预期的10.4亿美元。","content":"<p>美东时间8月25日周三美股盘后,<a href=\"https://laohu8.com/S/SNOW\">Snowflake</a>公布了2022财年第二季度业绩。财报显示,Snowflake第二季度营收2.72亿美元,同比增长104%,超出市场预期的2.57亿美元。<img src=\"https://static.tigerbbs.com/438a1ab1f92239ba115660fbdc430e5b\" tg-width=\"907\" tg-height=\"434\" referrerpolicy=\"no-referrer\">Snowflake第二季度产品收入2.546亿美元,同比增长103%,市场预期为2.4亿美元;专业服务和其他收入为1757.5万美元。</p>\n<p>净亏损1.9亿美元,去年同期亏损7763.4万美元;摊薄后每股亏损为0.64美元,去年同期每股亏损为1.31美元。</p>\n<p>截至2021年7月31日,Snowflake营收留存率为169%。该公司目前拥有4990个客户,其中116个客户过去12个月带来的产品收入超过100万美元。</p>\n<p>截至2021年7月31日,Snowflake持有的现金及现金等价物为6.99亿美元。</p>\n<p>Snowflake预计第三季度产品收入为2.8-2.85亿美元,同比增长89-92%;预计本财年产品收入为10.6亿至10.7亿亿美元,同比增长91-93%,超出市场预期的10.4亿美元。</p>\n<p>财报公布后,Snowflake盘后股价上涨3.83%,报294.62美元。<img src=\"https://static.tigerbbs.com/2c091c88c87610670549189d26062c48\" tg-width=\"712\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></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>Snowflake财报超预期,盘后股价涨逾3%</title>\n<style 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href=\"https://laohu8.com/S/SNOW\">Snowflake</a>公布了2022财年第二季度业绩。财报显示,Snowflake第二季度营收2.72亿美元,同比增长104%,超出市场预期的2.57亿美元。<img src=\"https://static.tigerbbs.com/438a1ab1f92239ba115660fbdc430e5b\" tg-width=\"907\" tg-height=\"434\" referrerpolicy=\"no-referrer\">Snowflake第二季度产品收入2.546亿美元,同比增长103%,市场预期为2.4亿美元;专业服务和其他收入为1757.5万美元。</p>\n<p>净亏损1.9亿美元,去年同期亏损7763.4万美元;摊薄后每股亏损为0.64美元,去年同期每股亏损为1.31美元。</p>\n<p>截至2021年7月31日,Snowflake营收留存率为169%。该公司目前拥有4990个客户,其中116个客户过去12个月带来的产品收入超过100万美元。</p>\n<p>截至2021年7月31日,Snowflake持有的现金及现金等价物为6.99亿美元。</p>\n<p>Snowflake预计第三季度产品收入为2.8-2.85亿美元,同比增长89-92%;预计本财年产品收入为10.6亿至10.7亿亿美元,同比增长91-93%,超出市场预期的10.4亿美元。</p>\n<p>财报公布后,Snowflake盘后股价上涨3.83%,报294.62美元。<img src=\"https://static.tigerbbs.com/2c091c88c87610670549189d26062c48\" tg-width=\"712\" tg-height=\"528\" 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[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/812325722","repostId":"1170877267","repostType":4,"isVote":1,"tweetType":1,"viewCount":996,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":812326384,"gmtCreate":1630554882248,"gmtModify":1632472889943,"author":{"id":"4087770624341400","authorId":"4087770624341400","name":"hintuang","avatar":"https://static.tigerbbs.com/659d9777dc4ea3d38a46980a74ae3d8c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087770624341400","authorIdStr":"4087770624341400"},"themes":[],"htmlText":"好好[微笑] ","listText":"好好[微笑] ","text":"好好[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/812326384","repostId":"1104241463","repostType":4,"repost":{"id":"1104241463","kind":"news","pubTimestamp":1630554403,"share":"https://www.laohu8.com/m/news/1104241463?lang=&edition=full","pubTime":"2021-09-02 11:46","market":"sh","language":"zh","title":"康希诺掉落的千亿金冠","url":"https://stock-news.laohu8.com/highlight/detail?id=1104241463","media":"放大灯 ","summary":"510倍,这样的业绩增长数据,在上市公司财报中可不常见,但科创板的生物医药公司康希诺做到了。\n8月30日,公司发布的2021年半年报显示,期内实现营收20.61亿元,同比增长51058%;同期归母净利","content":"<p>510倍,这样的业绩增长数据,在上市公司财报中可不常见,但科创板的生物医药公司康希诺做到了。</p>\n<p>8月30日,公司发布的2021年半年报显示,期内实现营收20.61亿元,同比增长51058%;同期归母净利润达9.37亿元,去年同期则为亏损1亿,成功扭亏为盈[1]。</p>\n<p>这个成绩真是——哇哦!</p>\n<p>过去一年多,康希诺的新冠疫苗“克威莎”(Ad5-nCoV)曾创下多项行业纪录:在技术路线上,它是国内唯一的单针法新冠疫苗,不仅在国内率先进入临床试验,在世界范围也第一个开启Ⅱ期临床试验;在产业领域,它是最早开启出口谈判的国产新冠疫苗,也是让康希诺扭亏为盈的唯一产品。<b>在多重利好与市场情绪共同推动下,公司的A股市值在六月下旬,曾一度攀至近2000亿的高点。</b></p>\n<p>可之后的走势完全就是另一种“哇哦”了。自7月以来,康希诺股价一路狂泻,短暂反弹恐怕只是套住了更多看走眼的投资者。<b>截至8月最后一个交易日,康希诺股价报收385.23元,较798元的高点腰斩,还多饶了一点儿,A股市值也不足1000亿。</b></p>\n<p><img src=\"https://static.tigerbbs.com/7932046408f260d55df2b338e9e0e5a4\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"></p>\n<p>这是咋了? 疫苗的故事突然不好听了吗?</p>\n<p>导致康希诺股价狂跌的原因很多。既有礼来系大股东“清仓式”减持(套现超36亿)[2],摩根大通等外资减持[3]带来的巨大抛售压力,也有此前炒得太高导致的回调,总之走势令股民心头滴血。</p>\n<p>此前,康希诺曾公布了上市后的第一份年报,可当时其新冠疫苗“克威莎”尚未获批,没有实质业务,看个热闹都嫌多。而从2021年2月至今,疫苗业务已经正式展开并大量创收,在如此重要的时间节点,康希诺发布的这份半年财报,数字很美,却很难让人给出积极评价:投资者真正关心的内容,财报透露极为有限,诚意欠奉。</p>\n<p>虽说交易所对半年报的信披要求确实不高,但公司是不是应该更主动一些,而不是仅仅合规就好?</p>\n<p>产能疑云</p>\n<p>赚了20亿,确实很多,但康希诺对一组重要数据讳莫如深——公司的产能利用率到底怎么样?</p>\n<p>放大灯团队曾发布《康希诺的两次探险》和《在外国“翻车”的疫苗,国内还有戏吗?》,质疑康希诺的产能和交付进度,而今,在康希诺的半年报中,相关信息依然付之阙如。</p>\n<p>尽管公开信息显示,康希诺现有疫苗产能约为2亿,全年预计可达5亿,但关键问题是,<b>有产能不代表就可以满产满销</b>(新近披露的会议纪要显示,即使到2022年,就算真有5亿账面产能也要打七五到八折[4])。</p>\n<p>要知道除了原液生产与灌装能力外,中硼硅玻璃瓶、外部包材都是最终产量的关键影响因素,而全球供应链巨震,各环节的供应短缺都使疫苗最终产能掣肘。就连官方也承认,在新冠疫苗生产过程中,遇到了原料供应和技术不稳定的问题[4]。因此,直接将产能等同于公司的营收,显然过于乐观。</p>\n<p>当前有关康希诺疫苗的具体信息不多,采购价格也尚不透明,所以我们只能与其它公司做个对比,来推断公司的具体情况。</p>\n<p>在同一天披露财报的除了康希诺,还有另一家疫苗供应商智飞生物(SZ300122),后者研发的三针剂重组蛋白亚单位新冠疫苗“智克威得”,已在多个省份展开接种[5]。</p>\n<p>财报显示,智飞生物期内自主产品总营收60.37亿元(同比增长1475%),全资子公司安徽智飞龙科马负责新冠疫苗的研发与生产销售,由于该子公司并无其它实质性在售产品,所以在2021年上半年实现的53.13亿元营收,主要来自新冠疫苗。</p>\n<p><img src=\"https://static.tigerbbs.com/c5bae1f169fa57329b2f88ad4aa452d0\" tg-width=\"667\" tg-height=\"176\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>那么康希诺的疫苗收入是多少呢?差不多20亿,比智飞少了30亿左右。不过康希诺获批使用,要早于智飞:</p>\n<ul>\n <li><p>2021年2月25日,国家药监局附条件批准康希诺生物股份公司重组新型冠状病毒疫苗(5型腺病毒载体)注册申请,附条件批准上市注册申请。[6]</p></li>\n <li><p>2021年3月17日,重庆智飞生物制品股份有限公司发布公告称,全资子公司安徽智飞龙科马生物制药有限公司与中国科学院微生物研究所合作研发的重组新冠疫苗,经国家卫生健康委提出建议,国家药品监督管理局组织论证同意紧急使用。[7]</p></li>\n</ul>\n<p>有如此差距,还要归咎于康希诺底子实在太差。虽然官方临床试验好消息不断,但产能建设进度不会说谎:<b>直到今年4月底,康希诺才在天津真正建成了自有生产线</b>[8]。显然受研发的不确定性影响,公司必须等待疫苗有相对积极的临床结果,才能布局生产线的建设。</p>\n<p>反观智飞,作为比较成熟的疫苗生产商,公司产线众多,可以直接调用已建成产能:在去年10月份,智飞生物就开始规划新冠疫苗产线,提前储备了约80万人份/天的产能[9]。而根据早先报道,智飞早在5月中下旬,就已经生产了超过1亿支疫苗,日产超100万剂。[5]</p>\n<p>至于康希诺,公司近日在中报投资者会议中表示,疫苗产品“克威莎”覆盖了国内约1000万人[4]。这一数据相较于灭活疫苗数亿的接种量少得可怜。相比之下,科兴的新冠灭活疫苗“克尔来福”(CoronaVac),在6月的日产能就已突破千万[10],两天就能实现同等规模的人群覆盖。</p>\n<p><img src=\"https://static.tigerbbs.com/000b13c41eb16f1d88f0771f498f8cc7\" tg-width=\"1000\" tg-height=\"164\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>官方在半年报会议交流中已经提及的产能影响因素,包括天津生产线遇到“原料供应”“技术不稳定”和“产能爬坡”问题[4]。依照公司声称的现有产能(2亿)计算,康希诺的月产能应当超过1600万。若真是如此,表明公司产能的利用率十分堪忧。</p>\n<p><b>这正是资本市场最忌讳的“不确定性”。</b>智飞与康希诺两家上市公司的股价,会收获截然不同的走势,也就不难理解了。</p>\n<p>这种信息不透明,对普通投资者也不公平。投资市场的机构有更灵通的消息渠道,有线下调研的能力,可普通投资者呢?总不能跑到生产车间去尽调吧?在信息披露不够详尽的情况下,别说是做赚钱的决策了,不赔钱都难。</p>\n<p>如果有可能,康希诺目前最应该做的,是学智飞那样,尽快公开产能,否则只能任由市场胡乱猜测。</p>\n<p>本文核心目的不是为了唱衰,只是希望读者能够更理性看待一个明显过热的行业。因为历史反复证明,资本市场向来十分悲观,稍有些风吹草动跑得比谁都快。</p>\n<p>新冠疫苗能吃一辈子吗?</p>\n<p>现在讨论新冠疫情何时结束,显然已无意义,动态防控将是长期趋势。随着一个比一个凶猛的变异病毒迭出,疫苗保护效力又遭到挑战,“加强针”的概念应运而生。</p>\n<p><b>这对康希诺是利好吗?尚难定论。</b></p>\n<p>首先,加强针到底有没有必要,目前仍在讨论阶段。但从总的政策导向上看,加强针的施打必要性不大,在8月27日国务院联防联控机制发布会上,官方态度也相对明确:“目前我国疫情防控形势很好,重点是外防输入。”[11]即使有必要,也要在完成第二针接种六个月后施行,且接种范围相对集中于输入风险高的海关、边检、航空、隔离点、定点医疗机构等工作人员。真的强制或全员加强接种的可能性也不高。</p>\n<p>其次,即使要打加强针,还要讨论能否混打的问题,即同一位接种者,能否接种不同技术路线的疫苗(mRNA、重组蛋白、腺病毒、灭活等)。</p>\n<p>这一点对康希诺的影响可就大了。国内只接种了1000万的康希诺腺病毒疫苗,接种比例太低,一旦确定不能混打,那公司在国内的增量十分堪忧。</p>\n<p>目前,专业人士对混打的看法仍有明显分歧。</p>\n<p>世界卫生组织方面的态度是,目前尚没有足够临床数据支持混打[12]。</p>\n<p><img src=\"https://static.tigerbbs.com/4ed32e2857ae8a07b37181f98e2d9080\" tg-width=\"1000\" tg-height=\"257\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>世界卫生组织首席科学家之一,Swaminathan博士则在早先明确表态,“混打”是一种危险的趋势(dangerous trend)。她进一步解释称,至少“混打”疫苗的决定不应由个人决定,而是各国卫生部门依靠数据给出相应决策,但相关数据仍待补充[13]。</p>\n<p>美国CDC则直接表示不支持混打,即使是相同技术路线的也不建议[14]。</p>\n<p><img src=\"https://static.tigerbbs.com/0dfa3357f2879f6d79c1b00e35ddb43b\" tg-width=\"1000\" tg-height=\"322\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>但另一方面,一些正在进行的试验表明,疫苗混打带来了更强的免疫效果。不过这些数据要么来自小范围临床试验,要么是动物实验,尚没有表现出能够推动全球性决策转变的能力[15][16]。</p>\n<p><img src=\"https://static.tigerbbs.com/5d66f3a79217336666bae9b3793b8ccc\" tg-width=\"946\" tg-height=\"286\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p><img src=\"https://static.tigerbbs.com/78f7b42b6f3f9812fce404848ab8b090\" tg-width=\"840\" tg-height=\"185\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>总而言之,现在断定“加强针代表未来新的强劲增长点”,还为时过早。对所有技术路线的新冠疫苗“加强针”概念和市场前景,我们都应持更谨慎的态度。</p>\n<p>那么,正处于临床试验Ⅲ期的康希诺吸入式新冠疫苗,还值得关注吗?</p>\n<p>从接种进度来看,到8月31日,国内接种的新冠疫苗已经累计超过20.5亿剂[17],出口都超过11亿剂,吸入式疫苗这种既没有获批,也没有产能,更没有实际订单的“空气肌肉”,对资本市场实在无法产生有效刺激。</p>\n<p><b>疫情都快两周年了,新冠疫苗市场,早已不愿“听故事”,只想“看成果”。</b>截至8月19日,世界卫生组织紧急使用清单/资格预审的在列新冠疫苗有24种[18],新冠疫苗到底能否成一种类似流感疫苗的长期生意,归根结底还得看各家疫苗的效力、产能和未来份额。</p>\n<p>如果没有产能,那又如何翻身呢?</p>\n<p>谁带康希诺接着飞?</p>\n<p>就没点儿好消息吗?有。</p>\n<p>首先,康希诺的新冠疫苗已实现商业化。至少在未来一段时间,公司不愁实质性业务,而且这一业务的盈利能力也很强,强大的自造血能力可以为未来发展提供有力支撑,更有底气的烧钱搞研发。</p>\n<p>其次,康希诺的A群C群脑膜炎球菌多糖结合疫苗(简称MCV2)已获批上市,这是公司除新冠疫苗外,第三款真正意义上实现商业化的疫苗产品(第一款是埃博拉疫苗,但该产品商业化潜力太弱)。</p>\n<p>6月23日,公司发公告宣布MCV2疫苗获批。当天市场反馈相当积极,康希诺股价迅速拉涨,涨幅一度超过17%,且其股价正是在这一天达到了历史新高。</p>\n<p>这个好消息并不纯粹,几天后一路狂泄的股价说明了不少问题。</p>\n<p>从世界卫生组织的观点看,结合疫苗(Conjugate Vaccine)较传统的多糖疫苗(Polysaccharide Vaccine)具有显著优势。早在2002年,临床数据就已经充分证明,结合疫苗的保护能力要明确优于多糖疫苗,其具备潜在的群体保护效应和较高的免疫原性,尤其是对2岁以下的儿童。</p>\n<p>因此,从专业性和技术的角度看,MCV2疫苗无疑合格。<b>但问题是,这款产品有竞争力吗?</b></p>\n<p>根据药监局披露信息,市面上已经有多款国产MCV2获批,且不乏智飞、沃森这样的成熟企业,康希诺的同类产品竞争力几何,很难说。</p>\n<p><img src=\"https://static.tigerbbs.com/f1ce30798989dfdfa06f6240d2219b92\" tg-width=\"1000\" tg-height=\"755\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>信息来源丨国家药品监督管理局官网数据[19]</p>\n<p>实际上,康希诺目前具备独特性的产品是另一款MCV4(ACYW135 群脑膜炎球菌四价结合疫苗),但这款疫苗距离获批上市还需要一定时间,且在国外多家疫苗巨头也早已将此类疫苗商业化。</p>\n<p>于是我们又回到了问题原点:在产能不占优,技术不占优,渠道不占优的情况下,康希诺用什么吸引采购方购买他们的产品?更何况,现阶段的脑膜炎结合疫苗仍属二类疫苗,即由公民自费并且自愿受种的其它疫苗,这意味着产品需要经过非常充分的市场考验,这很可能加剧了康希诺的推广难度。</p>\n<p>有一款具有较大商业潜力的产品获批上市,值得庆祝,但对康希诺未来发展助力几何,还需要先看看市场的脸色。</p>\n<p>谁都可能有飞的机会,但想不摔下来,还是要有点儿真本事。</p>","source":"lsy1594372250049","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>康希诺掉落的千亿金冠</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{ 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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康希诺掉落的千亿金冠\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-02 11:46 北京时间 <a href=https://mp.weixin.qq.com/s?__biz=MzIyNDA1MjExMQ==&mid=2650147905&idx=1&sn=a3afd2500ccaeb785a9884e2905a2174&chksm=f0167aa1c761f3b770443a173f11fb800a336a4ba53e9f3c06432f67d13b91df61e957c33a55&mpshare=1&scene=1&srcid=0902R1lO4tQeKW4V0NhpmbXi&sharer_sharetime=1630549254345&sharer_shareid=e54202e50f3fc9a41cea2b00b19b9989&version=3.1.12.70057&platform=mac#rd><strong>放大灯 </strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>510倍,这样的业绩增长数据,在上市公司财报中可不常见,但科创板的生物医药公司康希诺做到了。\n8月30日,公司发布的2021年半年报显示,期内实现营收20.61亿元,同比增长51058%;同期归母净利润达9.37亿元,去年同期则为亏损1亿,成功扭亏为盈[1]。\n这个成绩真是——哇哦!\n过去一年多,康希诺的新冠疫苗“克威莎”(Ad5-nCoV)曾创下多项行业纪录:在技术路线上,它是国内唯一的单针法...</p>\n\n<a href=\"https://mp.weixin.qq.com/s?__biz=MzIyNDA1MjExMQ==&mid=2650147905&idx=1&sn=a3afd2500ccaeb785a9884e2905a2174&chksm=f0167aa1c761f3b770443a173f11fb800a336a4ba53e9f3c06432f67d13b91df61e957c33a55&mpshare=1&scene=1&srcid=0902R1lO4tQeKW4V0NhpmbXi&sharer_sharetime=1630549254345&sharer_shareid=e54202e50f3fc9a41cea2b00b19b9989&version=3.1.12.70057&platform=mac#rd\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/6ad7ed6b96b448ffcc5b5501b0dc346c","relate_stocks":{"688185":"康希诺"},"source_url":"https://mp.weixin.qq.com/s?__biz=MzIyNDA1MjExMQ==&mid=2650147905&idx=1&sn=a3afd2500ccaeb785a9884e2905a2174&chksm=f0167aa1c761f3b770443a173f11fb800a336a4ba53e9f3c06432f67d13b91df61e957c33a55&mpshare=1&scene=1&srcid=0902R1lO4tQeKW4V0NhpmbXi&sharer_sharetime=1630549254345&sharer_shareid=e54202e50f3fc9a41cea2b00b19b9989&version=3.1.12.70057&platform=mac#rd","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104241463","content_text":"510倍,这样的业绩增长数据,在上市公司财报中可不常见,但科创板的生物医药公司康希诺做到了。\n8月30日,公司发布的2021年半年报显示,期内实现营收20.61亿元,同比增长51058%;同期归母净利润达9.37亿元,去年同期则为亏损1亿,成功扭亏为盈[1]。\n这个成绩真是——哇哦!\n过去一年多,康希诺的新冠疫苗“克威莎”(Ad5-nCoV)曾创下多项行业纪录:在技术路线上,它是国内唯一的单针法新冠疫苗,不仅在国内率先进入临床试验,在世界范围也第一个开启Ⅱ期临床试验;在产业领域,它是最早开启出口谈判的国产新冠疫苗,也是让康希诺扭亏为盈的唯一产品。在多重利好与市场情绪共同推动下,公司的A股市值在六月下旬,曾一度攀至近2000亿的高点。\n可之后的走势完全就是另一种“哇哦”了。自7月以来,康希诺股价一路狂泻,短暂反弹恐怕只是套住了更多看走眼的投资者。截至8月最后一个交易日,康希诺股价报收385.23元,较798元的高点腰斩,还多饶了一点儿,A股市值也不足1000亿。\n\n这是咋了? 疫苗的故事突然不好听了吗?\n导致康希诺股价狂跌的原因很多。既有礼来系大股东“清仓式”减持(套现超36亿)[2],摩根大通等外资减持[3]带来的巨大抛售压力,也有此前炒得太高导致的回调,总之走势令股民心头滴血。\n此前,康希诺曾公布了上市后的第一份年报,可当时其新冠疫苗“克威莎”尚未获批,没有实质业务,看个热闹都嫌多。而从2021年2月至今,疫苗业务已经正式展开并大量创收,在如此重要的时间节点,康希诺发布的这份半年财报,数字很美,却很难让人给出积极评价:投资者真正关心的内容,财报透露极为有限,诚意欠奉。\n虽说交易所对半年报的信披要求确实不高,但公司是不是应该更主动一些,而不是仅仅合规就好?\n产能疑云\n赚了20亿,确实很多,但康希诺对一组重要数据讳莫如深——公司的产能利用率到底怎么样?\n放大灯团队曾发布《康希诺的两次探险》和《在外国“翻车”的疫苗,国内还有戏吗?》,质疑康希诺的产能和交付进度,而今,在康希诺的半年报中,相关信息依然付之阙如。\n尽管公开信息显示,康希诺现有疫苗产能约为2亿,全年预计可达5亿,但关键问题是,有产能不代表就可以满产满销(新近披露的会议纪要显示,即使到2022年,就算真有5亿账面产能也要打七五到八折[4])。\n要知道除了原液生产与灌装能力外,中硼硅玻璃瓶、外部包材都是最终产量的关键影响因素,而全球供应链巨震,各环节的供应短缺都使疫苗最终产能掣肘。就连官方也承认,在新冠疫苗生产过程中,遇到了原料供应和技术不稳定的问题[4]。因此,直接将产能等同于公司的营收,显然过于乐观。\n当前有关康希诺疫苗的具体信息不多,采购价格也尚不透明,所以我们只能与其它公司做个对比,来推断公司的具体情况。\n在同一天披露财报的除了康希诺,还有另一家疫苗供应商智飞生物(SZ300122),后者研发的三针剂重组蛋白亚单位新冠疫苗“智克威得”,已在多个省份展开接种[5]。\n财报显示,智飞生物期内自主产品总营收60.37亿元(同比增长1475%),全资子公司安徽智飞龙科马负责新冠疫苗的研发与生产销售,由于该子公司并无其它实质性在售产品,所以在2021年上半年实现的53.13亿元营收,主要来自新冠疫苗。\n\n那么康希诺的疫苗收入是多少呢?差不多20亿,比智飞少了30亿左右。不过康希诺获批使用,要早于智飞:\n\n2021年2月25日,国家药监局附条件批准康希诺生物股份公司重组新型冠状病毒疫苗(5型腺病毒载体)注册申请,附条件批准上市注册申请。[6]\n2021年3月17日,重庆智飞生物制品股份有限公司发布公告称,全资子公司安徽智飞龙科马生物制药有限公司与中国科学院微生物研究所合作研发的重组新冠疫苗,经国家卫生健康委提出建议,国家药品监督管理局组织论证同意紧急使用。[7]\n\n有如此差距,还要归咎于康希诺底子实在太差。虽然官方临床试验好消息不断,但产能建设进度不会说谎:直到今年4月底,康希诺才在天津真正建成了自有生产线[8]。显然受研发的不确定性影响,公司必须等待疫苗有相对积极的临床结果,才能布局生产线的建设。\n反观智飞,作为比较成熟的疫苗生产商,公司产线众多,可以直接调用已建成产能:在去年10月份,智飞生物就开始规划新冠疫苗产线,提前储备了约80万人份/天的产能[9]。而根据早先报道,智飞早在5月中下旬,就已经生产了超过1亿支疫苗,日产超100万剂。[5]\n至于康希诺,公司近日在中报投资者会议中表示,疫苗产品“克威莎”覆盖了国内约1000万人[4]。这一数据相较于灭活疫苗数亿的接种量少得可怜。相比之下,科兴的新冠灭活疫苗“克尔来福”(CoronaVac),在6月的日产能就已突破千万[10],两天就能实现同等规模的人群覆盖。\n\n官方在半年报会议交流中已经提及的产能影响因素,包括天津生产线遇到“原料供应”“技术不稳定”和“产能爬坡”问题[4]。依照公司声称的现有产能(2亿)计算,康希诺的月产能应当超过1600万。若真是如此,表明公司产能的利用率十分堪忧。\n这正是资本市场最忌讳的“不确定性”。智飞与康希诺两家上市公司的股价,会收获截然不同的走势,也就不难理解了。\n这种信息不透明,对普通投资者也不公平。投资市场的机构有更灵通的消息渠道,有线下调研的能力,可普通投资者呢?总不能跑到生产车间去尽调吧?在信息披露不够详尽的情况下,别说是做赚钱的决策了,不赔钱都难。\n如果有可能,康希诺目前最应该做的,是学智飞那样,尽快公开产能,否则只能任由市场胡乱猜测。\n本文核心目的不是为了唱衰,只是希望读者能够更理性看待一个明显过热的行业。因为历史反复证明,资本市场向来十分悲观,稍有些风吹草动跑得比谁都快。\n新冠疫苗能吃一辈子吗?\n现在讨论新冠疫情何时结束,显然已无意义,动态防控将是长期趋势。随着一个比一个凶猛的变异病毒迭出,疫苗保护效力又遭到挑战,“加强针”的概念应运而生。\n这对康希诺是利好吗?尚难定论。\n首先,加强针到底有没有必要,目前仍在讨论阶段。但从总的政策导向上看,加强针的施打必要性不大,在8月27日国务院联防联控机制发布会上,官方态度也相对明确:“目前我国疫情防控形势很好,重点是外防输入。”[11]即使有必要,也要在完成第二针接种六个月后施行,且接种范围相对集中于输入风险高的海关、边检、航空、隔离点、定点医疗机构等工作人员。真的强制或全员加强接种的可能性也不高。\n其次,即使要打加强针,还要讨论能否混打的问题,即同一位接种者,能否接种不同技术路线的疫苗(mRNA、重组蛋白、腺病毒、灭活等)。\n这一点对康希诺的影响可就大了。国内只接种了1000万的康希诺腺病毒疫苗,接种比例太低,一旦确定不能混打,那公司在国内的增量十分堪忧。\n目前,专业人士对混打的看法仍有明显分歧。\n世界卫生组织方面的态度是,目前尚没有足够临床数据支持混打[12]。\n\n世界卫生组织首席科学家之一,Swaminathan博士则在早先明确表态,“混打”是一种危险的趋势(dangerous trend)。她进一步解释称,至少“混打”疫苗的决定不应由个人决定,而是各国卫生部门依靠数据给出相应决策,但相关数据仍待补充[13]。\n美国CDC则直接表示不支持混打,即使是相同技术路线的也不建议[14]。\n\n但另一方面,一些正在进行的试验表明,疫苗混打带来了更强的免疫效果。不过这些数据要么来自小范围临床试验,要么是动物实验,尚没有表现出能够推动全球性决策转变的能力[15][16]。\n\n\n总而言之,现在断定“加强针代表未来新的强劲增长点”,还为时过早。对所有技术路线的新冠疫苗“加强针”概念和市场前景,我们都应持更谨慎的态度。\n那么,正处于临床试验Ⅲ期的康希诺吸入式新冠疫苗,还值得关注吗?\n从接种进度来看,到8月31日,国内接种的新冠疫苗已经累计超过20.5亿剂[17],出口都超过11亿剂,吸入式疫苗这种既没有获批,也没有产能,更没有实际订单的“空气肌肉”,对资本市场实在无法产生有效刺激。\n疫情都快两周年了,新冠疫苗市场,早已不愿“听故事”,只想“看成果”。截至8月19日,世界卫生组织紧急使用清单/资格预审的在列新冠疫苗有24种[18],新冠疫苗到底能否成一种类似流感疫苗的长期生意,归根结底还得看各家疫苗的效力、产能和未来份额。\n如果没有产能,那又如何翻身呢?\n谁带康希诺接着飞?\n就没点儿好消息吗?有。\n首先,康希诺的新冠疫苗已实现商业化。至少在未来一段时间,公司不愁实质性业务,而且这一业务的盈利能力也很强,强大的自造血能力可以为未来发展提供有力支撑,更有底气的烧钱搞研发。\n其次,康希诺的A群C群脑膜炎球菌多糖结合疫苗(简称MCV2)已获批上市,这是公司除新冠疫苗外,第三款真正意义上实现商业化的疫苗产品(第一款是埃博拉疫苗,但该产品商业化潜力太弱)。\n6月23日,公司发公告宣布MCV2疫苗获批。当天市场反馈相当积极,康希诺股价迅速拉涨,涨幅一度超过17%,且其股价正是在这一天达到了历史新高。\n这个好消息并不纯粹,几天后一路狂泄的股价说明了不少问题。\n从世界卫生组织的观点看,结合疫苗(Conjugate Vaccine)较传统的多糖疫苗(Polysaccharide Vaccine)具有显著优势。早在2002年,临床数据就已经充分证明,结合疫苗的保护能力要明确优于多糖疫苗,其具备潜在的群体保护效应和较高的免疫原性,尤其是对2岁以下的儿童。\n因此,从专业性和技术的角度看,MCV2疫苗无疑合格。但问题是,这款产品有竞争力吗?\n根据药监局披露信息,市面上已经有多款国产MCV2获批,且不乏智飞、沃森这样的成熟企业,康希诺的同类产品竞争力几何,很难说。\n\n信息来源丨国家药品监督管理局官网数据[19]\n实际上,康希诺目前具备独特性的产品是另一款MCV4(ACYW135 群脑膜炎球菌四价结合疫苗),但这款疫苗距离获批上市还需要一定时间,且在国外多家疫苗巨头也早已将此类疫苗商业化。\n于是我们又回到了问题原点:在产能不占优,技术不占优,渠道不占优的情况下,康希诺用什么吸引采购方购买他们的产品?更何况,现阶段的脑膜炎结合疫苗仍属二类疫苗,即由公民自费并且自愿受种的其它疫苗,这意味着产品需要经过非常充分的市场考验,这很可能加剧了康希诺的推广难度。\n有一款具有较大商业潜力的产品获批上市,值得庆祝,但对康希诺未来发展助力几何,还需要先看看市场的脸色。\n谁都可能有飞的机会,但想不摔下来,还是要有点儿真本事。","news_type":1},"isVote":1,"tweetType":1,"viewCount":758,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":810018995,"gmtCreate":1629934498117,"gmtModify":1633681417048,"author":{"id":"4087770624341400","authorId":"4087770624341400","name":"hintuang","avatar":"https://static.tigerbbs.com/659d9777dc4ea3d38a46980a74ae3d8c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087770624341400","authorIdStr":"4087770624341400"},"themes":[],"htmlText":"[微笑] ","listText":"[微笑] ","text":"[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/810018995","repostId":"2162681000","repostType":4,"repost":{"id":"2162681000","kind":"news","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":1629932400,"share":"https://www.laohu8.com/m/news/2162681000?lang=&edition=full","pubTime":"2021-08-26 07:00","market":"hk","language":"zh","title":"Snowflake财报超预期,盘后股价涨逾3%","url":"https://stock-news.laohu8.com/highlight/detail?id=2162681000","media":"老虎资讯综合","summary":"美东时间8月25日周三美股盘后,Snowflake公布了2022财年第二季度业绩。财报显示,Snowflake第二季度营收2.72亿美元,同比增长104%,超出市场预期的2.57亿美元。Snowflake第二季度产品收入2.546亿美元,同比增长103%,市场预期为2.4亿美元;专业服务和其他收入为1757.5万美元。截至2021年7月31日,Snowflake持有的现金及现金等价物为6.99亿美元。Snowflake预计第三季度产品收入为2.8-2.85亿美元,同比增长89-92%;预计本财年产品收入为10.6亿至10.7亿亿美元,同比增长91-93%,超出市场预期的10.4亿美元。","content":"<p>美东时间8月25日周三美股盘后,<a href=\"https://laohu8.com/S/SNOW\">Snowflake</a>公布了2022财年第二季度业绩。财报显示,Snowflake第二季度营收2.72亿美元,同比增长104%,超出市场预期的2.57亿美元。<img src=\"https://static.tigerbbs.com/438a1ab1f92239ba115660fbdc430e5b\" tg-width=\"907\" tg-height=\"434\" referrerpolicy=\"no-referrer\">Snowflake第二季度产品收入2.546亿美元,同比增长103%,市场预期为2.4亿美元;专业服务和其他收入为1757.5万美元。</p>\n<p>净亏损1.9亿美元,去年同期亏损7763.4万美元;摊薄后每股亏损为0.64美元,去年同期每股亏损为1.31美元。</p>\n<p>截至2021年7月31日,Snowflake营收留存率为169%。该公司目前拥有4990个客户,其中116个客户过去12个月带来的产品收入超过100万美元。</p>\n<p>截至2021年7月31日,Snowflake持有的现金及现金等价物为6.99亿美元。</p>\n<p>Snowflake预计第三季度产品收入为2.8-2.85亿美元,同比增长89-92%;预计本财年产品收入为10.6亿至10.7亿亿美元,同比增长91-93%,超出市场预期的10.4亿美元。</p>\n<p>财报公布后,Snowflake盘后股价上涨3.83%,报294.62美元。<img src=\"https://static.tigerbbs.com/2c091c88c87610670549189d26062c48\" tg-width=\"712\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></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>Snowflake财报超预期,盘后股价涨逾3%</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\">\nSnowflake财报超预期,盘后股价涨逾3%\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\">2021-08-26 07:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>美东时间8月25日周三美股盘后,<a href=\"https://laohu8.com/S/SNOW\">Snowflake</a>公布了2022财年第二季度业绩。财报显示,Snowflake第二季度营收2.72亿美元,同比增长104%,超出市场预期的2.57亿美元。<img src=\"https://static.tigerbbs.com/438a1ab1f92239ba115660fbdc430e5b\" tg-width=\"907\" tg-height=\"434\" referrerpolicy=\"no-referrer\">Snowflake第二季度产品收入2.546亿美元,同比增长103%,市场预期为2.4亿美元;专业服务和其他收入为1757.5万美元。</p>\n<p>净亏损1.9亿美元,去年同期亏损7763.4万美元;摊薄后每股亏损为0.64美元,去年同期每股亏损为1.31美元。</p>\n<p>截至2021年7月31日,Snowflake营收留存率为169%。该公司目前拥有4990个客户,其中116个客户过去12个月带来的产品收入超过100万美元。</p>\n<p>截至2021年7月31日,Snowflake持有的现金及现金等价物为6.99亿美元。</p>\n<p>Snowflake预计第三季度产品收入为2.8-2.85亿美元,同比增长89-92%;预计本财年产品收入为10.6亿至10.7亿亿美元,同比增长91-93%,超出市场预期的10.4亿美元。</p>\n<p>财报公布后,Snowflake盘后股价上涨3.83%,报294.62美元。<img src=\"https://static.tigerbbs.com/2c091c88c87610670549189d26062c48\" tg-width=\"712\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/f25970ebf4293eec7586423288711d3f","relate_stocks":{"SNOW":"Snowflake"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2162681000","content_text":"美东时间8月25日周三美股盘后,Snowflake公布了2022财年第二季度业绩。财报显示,Snowflake第二季度营收2.72亿美元,同比增长104%,超出市场预期的2.57亿美元。Snowflake第二季度产品收入2.546亿美元,同比增长103%,市场预期为2.4亿美元;专业服务和其他收入为1757.5万美元。\n净亏损1.9亿美元,去年同期亏损7763.4万美元;摊薄后每股亏损为0.64美元,去年同期每股亏损为1.31美元。\n截至2021年7月31日,Snowflake营收留存率为169%。该公司目前拥有4990个客户,其中116个客户过去12个月带来的产品收入超过100万美元。\n截至2021年7月31日,Snowflake持有的现金及现金等价物为6.99亿美元。\nSnowflake预计第三季度产品收入为2.8-2.85亿美元,同比增长89-92%;预计本财年产品收入为10.6亿至10.7亿亿美元,同比增长91-93%,超出市场预期的10.4亿美元。\n财报公布后,Snowflake盘后股价上涨3.83%,报294.62美元。","news_type":1},"isVote":1,"tweetType":1,"viewCount":1016,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":830341056,"gmtCreate":1629018236975,"gmtModify":1633687928615,"author":{"id":"4087770624341400","authorId":"4087770624341400","name":"hintuang","avatar":"https://static.tigerbbs.com/659d9777dc4ea3d38a46980a74ae3d8c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087770624341400","authorIdStr":"4087770624341400"},"themes":[],"htmlText":"[微笑] 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This sends a spook across investors and spiral down to gaming stocks such as Tencent and Netease which dropped more than 10% this morning. 1.) China already imposed gaming curfew for minors in 201","listText":"This will be a quick post to touch upon the 3 things that are related to gaming industry, particularly Tencent - given that it is currently the talk of the town at the moment.<a target=\"_blank\" href=\"https://laohu8.com/S/00700\">$TENCENT(00700)$</a> In case you have not heard of the news that were circulating this morning, China's state-run Economic Information Journal Daily - stole today's headline by titling the article \"Spiritual Opium Grows into Hundreds of Billions of Industries\", which likened online games as hazardous especially to young people and seek to regulate them as soon as possible. This sends a spook across investors and spiral down to gaming stocks such as Tencent and Netease which dropped more than 10% this morning. 1.) China already imposed gaming curfew for minors in 201","text":"This will be a quick post to touch upon the 3 things that are related to gaming industry, particularly Tencent - given that it is currently the talk of the town at the moment.$TENCENT(00700)$ In case you have not heard of the news that were circulating this morning, China's state-run Economic Information Journal Daily - stole today's headline by titling the article \"Spiritual Opium Grows into Hundreds of Billions of Industries\", which likened online games as hazardous especially to young people and seek to regulate them as soon as possible. This sends a spook across investors and spiral down to gaming stocks such as Tencent and Netease which dropped more than 10% this morning. 1.) China already imposed gaming curfew for minors in 201","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/804544302","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":213,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":897816664,"gmtCreate":1628905207558,"gmtModify":1633688624772,"author":{"id":"4087770624341400","authorId":"4087770624341400","name":"hintuang","avatar":"https://static.tigerbbs.com/659d9777dc4ea3d38a46980a74ae3d8c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087770624341400","authorIdStr":"4087770624341400"},"themes":[],"htmlText":"[强] ","listText":"[强] ","text":"[强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/897816664","repostId":"892522524","repostType":1,"repost":{"id":892522524,"gmtCreate":1628674700366,"gmtModify":1628693425063,"author":{"id":"3514329116425907","authorId":"3514329116425907","name":"小虎AV","avatar":"https://static.tigerbbs.com/162e12f8dcec770ec19f66f2abb0d5db","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3514329116425907","authorIdStr":"3514329116425907"},"themes":[],"htmlText":"\n \n \n 【分析师称Moderna股价荒谬,看空下跌75%】美国银行(Bank of America)分析师杰夫·米查姆(Geoff Meacham)表示,Moderna的股价很荒谬,可能会较目前水平下跌75%[眼眼] <a href=\"https://laohu8.com/S/MRNA\">$Moderna, Inc.(MRNA)$</a>\n \n","listText":"【分析师称Moderna股价荒谬,看空下跌75%】美国银行(Bank of America)分析师杰夫·米查姆(Geoff Meacham)表示,Moderna的股价很荒谬,可能会较目前水平下跌75%[眼眼] <a href=\"https://laohu8.com/S/MRNA\">$Moderna, Inc.(MRNA)$</a>","text":"【分析师称Moderna股价荒谬,看空下跌75%】美国银行(Bank of America)分析师杰夫·米查姆(Geoff Meacham)表示,Moderna的股价很荒谬,可能会较目前水平下跌75%[眼眼] $Moderna, Inc.(MRNA)$","images":[],"top":1,"highlighted":2,"essential":2,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/892522524","isVote":1,"tweetType":2,"object":{"id":"59be914bf3b04624a6475638dc34d08f","tweetId":"892522524","videoUrl":"https://1254107296.vod2.myqcloud.com/e2ad4227vodcq1254107296/0e8616843701925922450537087/f0.mp4","poster":"https://static.tigerbbs.com/4516e00a66213c42b595ac8455310c35"},"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":260,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":895621277,"gmtCreate":1628740845299,"gmtModify":1633689844728,"author":{"id":"4087770624341400","authorId":"4087770624341400","name":"hintuang","avatar":"https://static.tigerbbs.com/659d9777dc4ea3d38a46980a74ae3d8c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087770624341400","authorIdStr":"4087770624341400"},"themes":[],"htmlText":"😁😁","listText":"😁😁","text":"😁😁","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/895621277","repostId":"1137984871","repostType":4,"isVote":1,"tweetType":1,"viewCount":271,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":804668310,"gmtCreate":1627954496130,"gmtModify":1633754939276,"author":{"id":"4087770624341400","authorId":"4087770624341400","name":"hintuang","avatar":"https://static.tigerbbs.com/659d9777dc4ea3d38a46980a74ae3d8c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087770624341400","authorIdStr":"4087770624341400"},"themes":[],"htmlText":"[强] [强] ","listText":"[强] [强] ","text":"[强] [强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/804668310","repostId":"1121813214","repostType":4,"isVote":1,"tweetType":1,"viewCount":366,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}