2022年10月31日 星期一
傳特斯拉(TSLA.US)曾考慮入股嘉能可最終因環保問題告吹
https://www.zhitongcaijing.com/content/detail/820244.html
智通財經APP獲悉，據報導，特斯拉(TSLA.US)在2021年與礦業巨頭嘉能可就收購後者10%至20%的股份進行了初步談判。特斯拉旨在尋找製造電動汽車電池所需的鈷、鋰和鎳等原材料。有消息稱，雙方於今年3月繼續進行談判，但最終未達成協議，原因是特斯拉擔心嘉能可廣泛的煤炭開採業務不符合其環保目標。
今年早些時候，特斯拉首席執行官埃隆•馬斯克表示，除非成本有所改善，否則特斯拉可能不得不直接大規模進入採礦和和鋰精煉行業，不過在這方面還沒有任何重大聲明。
據報導，特斯拉正在推進自己的計劃，在德克薩斯州墨西哥灣沿岸建設鋰精煉廠。另外，嘉能可已經與電池製造商SK Innovation和三星SDI，以及汽車巨頭寶馬和通用汽車(GM.US)簽署了鈷供應協議。
智通聲明：本內容為作者獨立觀點，不代表智通財經立場。未經允許不得轉載，文中內容僅供參考，不作為實際操作建議，交易風險自擔。更多最新最全港美股資訊，請點擊下載智通財經App
【券商聚焦】大和下調JS環球生活(01691)目標價14%至9港元料其利潤率受匯兌等不利因素拖累
http://hk.stock.hexun.com/2022-10-31/207009320.html
大和發研報指，JS環球生活(01691)於10月27日披露第三季度運營數據，期內SharkNinja業務銷售額增長穩健，主因新產品類別（戶外產品、個人護理、空氣淨化器等）全球市場份額增長、及新市場（德國、日本、澳大利亞、東南亞等）的成功擴張。雖2021年的主要逆風因素在2022年轉變為利好因素（運費和商品成本通脹、關稅、零部件短缺），且當前匯兌變動使公司與中國供應商協商價格更為有利，但管理層指出，節省的費用或再次投資於營銷及促銷活動以推動收入增長。管理層亦認為日元/英鎊/歐元的貶值將影響毛利率。由於SG&A費用上升，利潤率仍面臨壓力。
該行續指，管理層對SharkNinja業務的第四季銷售勢頭仍較為樂觀，因看好黑色星期五促銷活動前景，且當前渠道庫存水平較為正常的零售商需進一步補貨。但公司預期第三季銷售的兩位數銷售增長不會持續。考慮到整體消費者情緒疲弱及匯兌的不利因素，管理層現預計公司今年全年收入同比持平，淨利潤或同比下降10%左右。綜上，考慮到新產品及拓展新市場方面推廣及促銷成本上升的預測，該行將2022-24年每股收益下調10-18%，目標價由10.5港元下調14%至9港元，維持“買入”評級。
沃爾瑪推帶貨平台 KOL佣金無上限
週二，這家大型零售商宣布了該網站的測試版，讓網紅和社交媒體創作者可以通過為沃爾瑪「帶貨」而獲利。該公司計劃在 2023 年正式推出這平台。
沃爾瑪營銷主管William White在新聞稿中說：「我們知道我們的客戶每天都會在社交平台追看他們最喜歡的網紅所分享的內容......我們的下一步策略是藉著將我們的顧客與他們最愛的網紅直接與我們的品牌以及他們所喜歡的沃爾瑪品牌作連結。」
當內容創作者在網站上登錄，就可以在任何社交平台以至「群組」之中分享公司的產品連結。他們可以利用分析工具去追蹤他們推介的表現，再通過分佣的模式賺取收入。他們可以申請參力品牌推廣活動。到目前為止，網站對創作者沒有最低的社交媒體關注要求，也沒有限制創作者可以賺多少錢，儘管沃爾瑪沒有透露網紅可以將獲得多少分紅。
「我們不會透露創作者可以分享的佣金百分比，但很高興能夠讓他們通過這個平台，進一步發展他們的事業和社群，」沃爾瑪在Yahoo財經上說。
根據 Statista 的數據，美國今年社交媒體的銷售額目前估計為 518 億美元，預計到 2028 年將達到 1452 億美元。
沃爾瑪最大的競爭對手亞馬遜 (AMZN) 於五年前推出了以創作者為本的驅動的銷售平台Amazon Influencers。
通過亞馬遜，創作者可以獲得固定的佣金率，從電視銷售的 2% ，到通過亞馬遜視頻遊戲推薦的 20% 不等。亞馬遜還於今年 9 月下旬在印度推出了其 QVC 風格的購物平台 Amazon LIVE。該節目於 2019 年在美國推出，網紅可以在直播時連結到亞馬遜頁面。例如，迪士尼最近在 Amazon LIVE 上贊助了秋季玩具禮品指南。
首批允許創作者從他們的推薦中獲利的平台包括 LIKEtoKNOW.it 和 rewardStyle，都在 2021 年歸入了數碼推廣平台 LTK 旗下。
Baillie Gifford 基金在第三季度購買了更多中國拼多多、蔚來汽車的股份
路透香港10月28日 - 歐洲最大的資產管理公司之一、近年來看好中國的Baillie Gifford第三季度在其投資組合中增持了部分中國成長型股票，儘管政策不確定性上升，交易所備案文件顯示顯示。
向美國證券交易委員會提交的最新 13F 文件顯示，這家總部位於愛丁堡的投資集團在 7 月至 9 月期間增持了電子商務平台拼多多(PDD.O)的 110,737 股和電動汽車製造商蔚來汽車的 50,039 股。
Baillie Gifford 在此期間還出售了 7,033,302 股理想汽車的股份。
在共產黨十年兩次的全國代表大會之前，許多基金經理將他們對中國的風險降至最低。
截至 9 月底，拼多多以 17.7 億美元的市值位列 Baillie Gifford 在美國上市的第 12 大控股公司，蔚來位列第 16 位。它最大的持股是特斯拉公司（TSLA.O）。
Baillie Gifford 的公關代表本週通過電子郵件回复路透社，拒絕評論他們在中國的最新立場，稱該公司不關注宏觀地緣政治問題，而是關注他們投資的公司的長期機會.
For Baillie Gifford holdings:
Pinterest 收益：這是投資者應該知道的 Chinese /English Subtitles
https://www.youtube.com/watch?v=vMJocmWH2ko&t=13s
字幕記錄
Pinterest 剛剛報告了收益，如果
你注意到股價上漲了
如果你正在看這個，意義重大
視頻你很有可能是
試圖找出結果在哪裡
真的很好
Pinterest 是否開始轉向
角落
或者管理層只是在貼牆紙
超出預期的糟糕結果
傑森·霍爾（Jason Hall）
傑夫·桑托羅（Jeff Santoro），我們將採取
深入了解 Pinterest 的最新收益
怎麼樣 傑夫
很好，我很好奇這個
我看了結果然後看到了市場
反應，兩個沒有排隊，所以我
想談談它是的
這更好或更壞，我們要
進入那個，但在我們做一點之前
首先，如果你有一點家務
喜歡我們的視頻 如果你喜歡什麼
我們正在做請點擊訂閱
按鈕它對我們有幫助，我們非常感謝
那第二個我想給個小費
感謝我們的讚助商 The Motley
傻瓜，我們製作這些視頻是因為
如果你正在尋找偉大的
股票創意轉到我們的鏈接傻瓜網
正斜杠這件事放在了一些
信息和傻瓜會給予
你最值得買的 10 隻股票
現在謝謝你
好的，傑夫，我要分享
屏幕在這裡，讓我們簡單談談
數字所以有一些好的我們會
從好的權利和一件事開始
那很好
至少出乎意料的是
收入確實繼續增長，你看
在Cadence這裡回到最後
這是偉大而艱難的一年
補償
收入仍在高速增長
個位數，對，就是這樣
好吧，你得到了一個 Pinterest
股東你必須同意
正確的
是的，我的意思是艱難的比賽就是跳躍
告訴我你知道離開 43
收入同比增長
一年前
嗯，除此之外還有 8%
你知道讓它變得更好一點
比看起來
嗯，你知道，我總是
對世界其他地方感興趣
我知道那隻是很小的一部分
現在的業務，但是
嗯，你知道這是非常健康的成長
如果他們能得到一些牽引力
在那裡，並讓那部分成為他們的呃
收入蛋糕變大一點你
知道那隻是一件好事
是的，讓我們談談為什麼
收入正在增長，這是我們的便便 arpu
每個用戶的平均收入
我們繼續看到
朝著正確的方向前進 11
在全球範圍內增長最快
今天的重要業務顯然是美國
和加拿大，你看到那些數字
知道我們在說你知道
在以下方面更為重要
每個用戶的美元價值高於任何其他
市場向上 15 然後其餘
排除美國和世界
加拿大，不包括歐洲，所以大部分
它正在尋找的發展中市場
再次擴大，向上移動
基本上，但它仍然只是一個很小的
傑夫這是業務的一小部分
一個廣告業務，所以你想
解釋為什麼這個數字如此重要
這個數字很重要，因為
現在他們是一家廣告公司
你知道考慮到我們的結果
從其他公司看到一些
季度廣告收入下降
增加是一件好事
Pinterest 即使它什麼都不是
要把你的襪子脫掉
公司正在嘗試稍微調整一下
遠離大量用戶增長並進入
通過這些用戶獲利的更好計劃
所以他們會有廣告和
可能哦，他們有廣告
可能永遠都會，但他們也是
試圖使網站更具購物性
他們試圖讓用戶來
Pinterest 尋找靈感，然後如果
他們看到他們喜歡的東西能夠
非常容易，幾乎沒有摩擦
點擊並在那裡購買那個東西
那麼顯然Pinterest會採取
從那筆交易中扣除利率
仍處於起步階段，它是
創始人下台的原因
帶來了呃新的 CEO 比爾準備好了誰
有電商背景好感動
轉發它會很有趣
這可能會如何影響我們的便便，但這是正確的
現在每個用戶的平均收入
指標完全基於
廣告他們是，我只是想
給一種
比較它在談論事實
他們在這方面做得很好
我們剛剛看到的環境
嗯嗯 Facebook 和
一個
Instagram 的母公司元數據
嗯，剛剛報告了收入和平均水平
每位用戶的收入下降了三
直線季度
Pinterest 繼續增長
數字所以說很多思考
目前的廣告市場狀況
營銷人員的經濟狀況
繼續看好價值
作為一個廣告平台，所以現在
這真的很重要，但確實如此
你提到你提到了
與新任首席執行官計劃真正專注於
嗯電子商務和創造更多
混合業務
我認為這很重要，因為現在
我將在屏幕上分享這裡
因為一件事是
真正的挑戰
過去的 Pinterest 真的更多
在這一點上超過一年是訂婚
是的，我們正在經歷一段時期
每月活躍的四分之三
用戶實際上在全球範圍內下降
基礎，終於回到了穩定
點，但正如你在
在圖表上它仍然下降
百分之二再次在其最重要的
市場所以你認為這是一個主要的
重點
參與是一個主要的焦點
也是電子商務焦點的一部分
向前
是的，我認為它必須是我的意思是他們
不需要 他們不需要
發布 40 50 用戶增長可能
他們在大流行期間做到了
成功，尤其是如果他們能
繼續獲利，但不能留下來
平坦它不能減少，你知道一個
我記得首席執行官給出的報價
在之前的財報電話會議中是
嗯，你知道人們過去常來
互聯網購買他們想要的東西
他們現在能找到的最優惠的價格
他們上網來決定什麼
購買所以如果他們可以成為目的地
對於您知道類似的購物者
如果可以的話，去逛街吧
將櫥窗購物者帶入 Pinterest
這不僅可以驅動呃平均
每個用戶的收入，但也可以帶來
那些月平均用戶數回來了
好，這是我一直在說的
幾年了，你的東西
我談到的是 Pinterest 的
社交媒體平台
似乎是最
已經為完美而打造
交易的呃那種關係
因為人們來找它
對於他們的想法
想要製造或他們想要購買
無論哪種情況，他們已經準備好
花錢，那真的是
如果你能把它從只是
有針對性的廣告嵌入
電子商務關係就在那裡
平台的一部分
是的，他們仍然在一個
社交媒體的利基，他們很善良
獨一無二的，沒有其他平台
那裡提供 Pinterest 的內容
如果他們能找到你的路，就會這樣做
知道讓利基更有利可圖，
對新成員更具吸引力
或一組新用戶，那麼他們應該
繼續成功
好吧，你提到了我正在做的事情
分享我們要去的最後一張幻燈片
在這裡你提到更多
有利可圖，我們知道那是
Pinterest 現在沒有發生
費用在增加 費用在來
起來，它實際上變得有點
少一點利潤你想要你想要
稍微談談這個
是的，我的意思是你知道你和我
之前說你想要這些數字
你想在這些領域增長
不是周圍的企業
通常會增加你知道的研發支出
其銷售和營銷支出超過一年
問題是你不能成長
這些費用 20 到 40 一年，而
您的收入僅在中期增長
高個位數
變成你知道你不能的點
永遠這樣下去，所以你知道
這是特別特別的焦點
現在對於一家仍然
試圖成長為無利可圖的
盈利能力並試圖達到
持續產生的點
你知道正的自由現金流
嗯，但我想關鍵在這一點上
就像你說他們是他們是他們是
積極做決定
如果有一段時間你的成長是
如果有時間你會放慢速度
進行您想要提供的過渡
你必須在 RD 上花費更多
擁有偉大的產品和偉大的
經驗，你需要專注於
客戶獲取，因為他們是
他們的銷售和營銷費用權利
完全正確，你知道，所以這可能
是他們必須花費的時間
我認為值得記住的是
他們唯一一次真正去過
盈利或現金流為正
在大流行期間，當他們看到一個
令人難以置信的增長量，因為
人們被困在家裡，所以這可能
讓投資者認為他們
準備好成為一家盈利的公司
也許他們不是
嗯，但最終你確實需要看看
這些指標扭轉了它只是一個
投資者將多久
必須等待最後一個問題傑夫我是
Pinterest 股東，我相信你是
也是 Pinterest 的股東
今天你有錢投資的股票
無論您是否擁有它，您正在尋找
在並且你正在考慮它
現在 Pinterest 是否更值得購買
當你在你的視野中或者我們還在
有點觀望
或者你是否擔心他們
無法做到這一點
樞
我仍然擔心他們不會去
能夠拉開樞軸，嗯，我是
持有我的股票 我不賣
嗯，我只是想看看，我是
在我們開始之前尋找它
錄音我想看一些證據
他們計劃使網站更
shoppable 正在取得一些進展
所以無論是他們的實際數字
報告或管理層評論
開始讓我相信人們是
在應用內點擊購買
當我看到一些證據表明
那是朝著正確的方向前進
可能準備購買更多股票
現在我在等待和等待
模式是的，我想那是我想我
同意你這是最好的方法
現在看看他們即將成為
花更多的錢嘗試發展
他們沒有展示的東西
他們可以完全按照你說的做
給他們一些時間來賺取更多
他們可以做的資本改進改進
它
字幕記錄
Pinterest just reported earnings and if
you've noticed the stock price is up
significantly if you're watching this
video there's a good chance you're
trying to figure out where the results
really good
and is Pinterest starting to turn the
corner
or is management just wallpapering over
bad results that beat expectations I'm
Jason Hall this is the smattering joined
by Jeff Santoro and we're going to take
a dive into Pinterest latest earnings
how's it going Jeff
it's good I'm I'm curious about this one
I read the results then saw the market
reaction and the two didn't line up so I
want to kind of talk through it yeah is
this better or less worse we're going to
get into that but before we do a little
bit of housekeeping first of all if you
like our videos If you enjoying what
we're doing please click that subscribe
button it helps us we really appreciate
that and second I want to give a hat tip
and a thanks to our sponsor The Motley
Fool we get to make these videos because
of the Fool If you're looking for great
stock ideas go to our link fool.com
forward slash this mattering put in some
information and the Fool's Gonna Give
You their 10 best stocks to buy right
now thanks for that
all right Jeff I'm going to share the
screen here and let's talk briefly about
the numbers so there was some good we'll
start with the good right and one thing
that was good
at least against expectations is that
revenue does continue to grow you look
at the Cadence here going back to last
year which was a great year and a tough
comp
and revenue is still growing in the high
single digits right that's that's that's
okay you got as a as a Pinterest
shareholder you got to be okay with that
right
yeah I mean the tough comp is what jumps
out to me you know coming off of 43
year-over-year Revenue growth from a
year ago
um to have eight percent on top of that
you know makes it a little bit better
than it may look
um you know and and I'm always
interested in that rest of the world
number I know that's a very small part
of the business right now but
um you know that's pretty Healthy Growth
and if they can ever get some traction
there and and make that part of their uh
Revenue pie grow a little bit bigger you
know that that's only a good thing for
the business yeah let's talk about why
revenue is growing and it's our poo arpu
average revenue per user
and we continue to see
steps in the right direction here 11
growth on a global basis the most
important business today clearly the US
and Canada you see those numbers you
know it's we're talking you know
substantially more important in terms of
dollar value per user than any other
market right up 15 and then the rest of
the world which excludes the U.S and
Canada and excludes Europe so most of
the developing markets that it's looking
to expand in again that moved up
substantially but it's still just a tiny
tiny part of the business Jeff this is
an ad business right so you want to
explain why this number is so important
well this number is important because
right now they are an ad business and
you know considering the results we've
seen some from other companies this
quarter with ad revenues declining any
kind of increase is a good thing for
Pinterest even if it's nothing that's
going to knock your socks off the
company is trying to Pivot a little bit
away from massive user growth and into a
better plan for monetizing those users
so they're going to have advertising and
probably oh they have advertising
probably always will but they're also
trying to make the site more shoppable
they're trying to have users come to
Pinterest for inspiration and then if
they see something they like be able to
very easily with very little friction
click and buy that thing right there and
then obviously Pinterest would take a
take rate off of that transaction that's
still in its infancy it's part of the
reason that the founder stepped down and
brought in uh the new CEO Bill ready who
has a background in e-commerce so moving
forward it'll be interesting to watch
how that might affect our poo but right
now those uh average revenue per user
metrics are based entirely on
Advertising they are and I just want to
give kind of of a
comparison it's talking about the fact
that they are so so good in this
environment we just saw
um uh Facebook and
um
um Instagram's parent company meta
um just reported earnings and average
revenue per user has fallen for three
straight quarters
and Pinterest continues to grow that
number so that says a lot thinking about
the state of the ad market right now the
state of the economy the marketers
continue to look favorably on the value
of this as an ad platform so for now
that's really important and but it is
you mentioned you mentioned the the the
plan with its new CEO to really focus on
um e-commerce and kind of creating more
of a hybrid business
and I think that's important because now
I'm going to share on the screen here
because the one thing that has been a
real challenge
for Pinterest over the past really more
than a year at this point is engagement
right we're coming off of a period of
three quarters where monthly active
users actually declined on a global
basis and finally got back to a steady
point but as you can see on the on the
on the chart there it's still declined
two percent again in its most important
market so do you think this is a major
Focus
that engagement's a major Focus that's
also part of that e-commerce Focus going
forward
yeah I think it has to be I mean they
don't need to they don't need to be
posting 40 50 user growth like maybe
they did during the pandemic to be
successful especially if they can
continue to monetize but it can't stay
flat it can't decrease and you know one
of the quotes I remember the CEO giving
in a previous earnings call was
um you know people used to come to the
internet to buy the thing they wanted at
the best price they could find it now
they come to the internet to decide what
to buy so if they can be a destination
for Shoppers who are you know it's akin
to window shopping right if they can
bring window Shoppers into Pinterest
that could not only drive uh average
revenue per user but could also uh bring
those monthly average user numbers back
up well it's something I've been saying
for a couple years now and something you
and I've talked about is Pinterest of
the social media platforms
seems to be the one that's most
already built to be perfect for that
transactional uh sort of relationship
because people are coming to it to look
for ideas for things that they either
want to make or they want to buy in
either case they're already primed to
spend money and that's really really
valuable if you can turn that from just
targeted ads to having an embedded
e-commerce relationship right there as
part of the platform
yeah and they also still operate in in a
niche of social media right they're kind
of unique there's not another platform
out there that offers what Pinterest
does so if they can find a way to you
know make that Niche more profitable and
more appealing to a new set of members
or a new set of users then they should
continue to be successful
well you mentioned something I'm doing
sharing the last slide we're going to go
over here you mentioned being more
profitable and we do know that that's
not happening with Pinterest right now
expenses are going up costs are coming
up and it's actually becoming a little
bit less profitable you wanna you wanna
talk through this a little bit
yeah I mean you know you and I were
saying earlier you want these numbers
you want growth in these areas there's
not a business around that doesn't
typically grow its you know r d spending
its sales and marketing spend year over
year the problem is you can't be growing
these expenses 20 to 40 a year while
your revenue is only growing in the mid
to high single digits right at some
point that becomes you know you can't
continue that way forever so you know
that's particularly particularly a Focus
right now for a company that's still
unprofitable that's trying to grow into
profitability and trying to get to the
point where it's consistently generating
you know positive free cash flow
um but I guess the key is at this point
like you said they're they're they're
actively making a decision
if there's a time when your growth is
slowing if there's a time that you're
making a transition you want to offer
more you've got to spend on R D you have
to have a great product and a great
experience and you need to focus on
customer acquisition as they are with
their sales and marketing expense right
right exactly and you know so this might
be the time they have to make that spend
I think it's just worth remembering that
the only time they've really ever been
profitable or cash flow positive is
during the pandemic when they saw an
incredible amount of growth because
people were stuck at home so it that may
have got investors thinking that they
were ready to be a profitable company
when maybe they weren't
um but eventually you do need to see
those metrics turned around it's just a
matter of how how long investors will
have to wait last question Jeff I'm a
Pinterest shareholder I believe you're
also a Pinterest shareholder looking at
the stock today you have money to invest
whether you own it or not you're looking
at and you're thinking about it
is is Pinterest more buyable right now
when you're in your view or are we still
kind of in a wait and see moment
or or do you have concerns that they're
not going to be able to pull off this
pivot
I still have concerns they're not going
to be able to pull off the pivot um I'm
holding my shares I'm not selling them
um I I just I want to see and I was
looking for it before we started
recording I want to see some evidence
that their plan to make the site more
shoppable is gaining some ground right
so whether it's actual numbers that they
report or management commentary that
starts to um convince me that people are
clicking within the app to purchase
things when I see some evidence that
that is heading in the right direction I
might be ready to buy some more shares
right now I'm I'm on a wait and hold
pattern yeah I think that's I think I
agree with you that's the best way to
look at it right now they're about to be
spending more money to try to develop
this thing that they haven't shown that
they can do exactly what you said let's
give them some time to to earn any more
Capital improve improve that they can do
it
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