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- JessyyyyyJessyyyyy
  ·2021-08-25
  Good
  Kuaishou Technology Posts Qtrly Adjusted Net Loss Of RMB4.77 Billion
  Kuaishou Technology announced the unaudited consolidated results of the Company for the three and si
  Kuaishou Technology Posts Qtrly Adjusted Net Loss Of RMB4.77 Billion
  607 评论
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- JessyyyyyJessyyyyy
  ·2021-08-23
  Wow
  Paysafe: Where Is The Floor?
  Summary Paysafe's revenue growth for its fiscal 2021 second quarter has sped up. High leverage has
  Paysafe: Where Is The Floor?
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- JessyyyyyJessyyyyy
  ·2021-08-15
  Better
  非常抱歉，此主贴已删除
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- JessyyyyyJessyyyyy
  ·2021-08-13
  Yes
  非常抱歉，此主贴已删除
  581 评论
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- JessyyyyyJessyyyyy
  ·2021-08-11
  Wow
  非常抱歉，此主贴已删除
  839 评论
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- JessyyyyyJessyyyyy
  ·2021-08-10
  Ya
  Stocks making the biggest moves in the premarket: Casper Sleep, AMC Entertainment, 3D Systems and more
  Casper Sleep Inc. – The sleep products company reported record quarterly revenue that came in above
  Stocks making the biggest moves in the premarket: Casper Sleep, AMC Entertainment, 3D Systems and more
  585 评论
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- JessyyyyyJessyyyyy
  ·2021-08-06
  Yo
  非常抱歉，此主贴已删除
  832 2
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- JessyyyyyJessyyyyy
  ·2021-08-05
  Ok
  非常抱歉，此主贴已删除
  499 评论
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- JessyyyyyJessyyyyy
  ·2021-08-02
  Ok
  非常抱歉，此主贴已删除
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- JessyyyyyJessyyyyy
  ·2021-07-31
  Wow
  You can beat stock market indexes — this fund manager has, and this is how she and her team did it
  Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fu
  You can beat stock market indexes — this fund manager has, and this is how she and her team did it
  473 评论
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Net loss was 7.04 billion yuan, compared with the 6.25 billion yuan loss projected.</p>\n<p><a href=\"https://laohu8.com/RN?name=RNLive&amp;rndata=%7B%22liveId%22:%2216296990282877%22%7D\" target=\"_blank\">Q2 2021 Kuaishou Technology Earnings Conference Call</a></p>\n<p><img src=\"https://static.tigerbbs.com/4b509844047790d8e963e13fc790db37\" tg-width=\"1189\" tg-height=\"596\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/1c164ab8bf034ae0500759913e971e79\" tg-width=\"1186\" tg-height=\"518\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/5c06cc6e67cb37fe31f2add56208fe29\" tg-width=\"1192\" tg-height=\"517\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ba8da541a6a01d31051ff7261e69f112\" tg-width=\"1188\" tg-height=\"331\" referrerpolicy=\"no-referrer\"></p>\n<p><b>BUSINESS REVIEW AND OUTLOOK </b></p>\n<p>As a leading content community and social platform with hundreds of millions of daily active users, we, Kuaishou, are well-positioned to continue cultivating a vibrant, trust-based ecosystem, while bolstering our monetization capabilities through better management of our massive traffic, and further strengthening our value proposition for our users and customers.</p>\n<p>Amid consistent improvements to the experience for users as well as service capability of advertisers and merchants, and efforts to empower them with our unique content and ecosystem, we achieved total revenues of RMB19.1 billion in the second quarter of 2021, representing a year-over-year increase of 48.8% which outpaced the 36.6% year-over-year increase in the first quarter of 2021. Revenues from online marketing services grew by 156.2% year-over-year to RMB10.0 billion in the second quarter of 2021, contributing over 50% of our total revenues once again. Revenues from other services including e-commerce increased by 212.9% year-over-year to RMB2.0 billion in the second quarter of 2021.</p>\n<p><b>Ecosystem </b></p>\n<p>Driven by our investments to continuously iterate traffic distribution algorithms and to enhance social trust and enrich content ecosystem, we further increased user engagement and user activeness on our platform. This helped propel the average daily time spent per DAU on Kuaishou App to reach 106.9 minutes in the second quarter of 2021, increasing by 7.7% quarter-over-quarter and 25.2% year-over-year. Leveraging the growing public domain traffic on our platform, we have continuously optimized our algorithms by deepening our insights and understanding of user behaviors and preferences in content consumption as well as the evolving user needs, which allows us to continuously improve our distribution algorithms, leading to further optimized user experience.</p>\n<p>Besides improvements in user engagement, we also achieved solid results in promoting user activeness. Through the improved efficiency of traditional user acquisition channels and retention measures as well as organic growth driven by strong social trust and diversified content, our DAUs to MAUs ratio reached 57.9% in the second quarter of 2021 on Kuaishou App, expanding by 1.1 percentage point quarter-over-quarter. Our average DAUs on Kuaishou App increased by 11.9% year-over-year to 293.2 million in the second quarter of 2021, while the year-over-year growth rate accelerated every month during the quarter, showing a healthy momentum. The growing user activeness was also driven by our improved user retention rate resulted from our efforts to facilitate full-cycle user management which spans user acquisition, user retention and monetization, as well as providing optimized content recommendation and personalized services. This synergistic user management also allows us to continuously improve our products and address user needs more promptly and effectively.</p>\n<p>The strong social trust is the backbone of our ecosystem and differentiates us from other industry players. In the second quarter of 2021, social trust was further strengthened on our platform, as demonstrated by the increasing number of pairs of mutual followers on Kuaishou App, which reached 12.6 billion pairs on a cumulative basis by the end of the second quarter of 2021, increasing by 60% year-over-year.</p>\n<p>Continuous expansion in our leading content categories and the scale and diversity of our content ecosystem also contributed to our increasing user engagement and growing user activeness. We have continually strived for differentiated and refined content offerings that cater to diverse user needs. Our featured Kuaishou Playlet&nbsp;delivered excellent results, contributing over 800 series of short plays, each of which received more than 100 million video views accumulatively by June 30, 2021, and including 40 exclusive series produced by our own Project Astral. On new content verticals side, we are proud to have become an industry benchmark in the sports category. In addition to our colorful professionally generated and user generated sports content library, we have recently become the official broadcaster of the Tokyo 2020 Summer Olympics and the Beijing 2022 Winter Olympics, bringing our users a more innovative sports viewing experience and an even more interactive experience in sports content creation through short videos and live streams.</p>\n<p>To encourage content creation and optimize content distribution, we have distributed not only short videos, but an increasing amount of premium live streaming and e-commerce content to users through refined algorithms for public domain traffic. By doing so, we have enabled our users to discover a broader variety of more interesting, meaningful and useful content that serve their new needs. This has also allowed our platform to become increasingly attractive and friendly to content creators, as evidenced by the number of high quality content creators growing continuously and healthily on a monthly basis during the second quarter of 2021. These factors further reinforced our strong flywheel effects in content creation and content consumption.</p>\n<p><b>Online marketing services </b></p>\n<p>We achieved strong online marketing services growth in the second quarter of 2021, with revenues increasing 156.2% year-over-year to RMB10.0 billion. In particular, revenues from brand advertisements maintained its high growth, outpacing the year-over-year growth rate of revenues from online marketing services once again, while the number of brand advertisers on our platform increased by nearly four times compared with the same period of last year. These results were driven by our continuous efforts to improve our brand image, marketing efficiency as well as service capabilities, helping brands attract and grow user base, increase popularities and further enhance user stickiness and loyalty through private domain operations.</p>\n<p>Brand advertisement has become one of the strategic focuses for us. As we continue to invest in infrastructure and tools to unlock the value of our massive traffic and improve efficiency for advertisers, we endeavor to establish a closed-loop solution offering endto-end online marketing services to brand advertisers. These marketing services include production of customized short video ads, live streaming marketing support, follower base and private traffic management, as well as e-commerce monetization. From this services tool box, our brand partners can execute their strategies in brand discovery, promotion and product sales all within our platform. This in turn enhances the environment for our content creators to reap rewards from their talents and establishes an all-in-one destination where our users can discover trusted brands and sources and even socialize and make purchases from them.</p>\n<p>To bring our solutions and platform-wide benefits to more brands, we have also expanded our sales teams for brand advertisements to cover more industries together with brand advertising agencies that further bolster our market reach. The main industries we focus on include fast moving consumer goods, beauty and cosmetics, and electronics. For each industry, we offer a customized traffic conversion model based on the industry’s characteristics, which we continually refine and upgrade</p>\n<p>On feeds advertisement, in order to boost our value proposition and drive strong return on investment for our advertising partners, we have been investing in infrastructure, which includes an iterative intelligent bidding system with improved advertising effectiveness and efficiency across the board. This system is underpinned by optimized algorithms to provide better matching between ad content and target audiences. With AI-based tools, we were able to assess the effectiveness of different ad content and assist in the production of creative content to not only generate higher returns for advertisers, but also maintain the user experience hence growing room for ad loads. These efforts helped drive our online marketing services with better effectiveness and stronger pricing power in the second quarter of 2021.</p>\n<p>On the product side, we launched the Magnetic Taurus&nbsp;platform in the second quarter of 2021, which provides comprehensive closed-loop e-commerce marketing solutions connecting public and private domain traffic. This platform offers multiple options for customization, as well as data visualization and data monitoring, which allows more precise marketing services for merchants. The introduction of Magnetic Taurus has helped improve the efficiency of our algorithms and traffic monetization capabilities and broaden the diversity of advertisers on our platform as well as enhance their engagement. Following the launch of Magnetic Taurus, the number of advertisers served by Magnetic Taurus has continuously increased.</p>\n<p><b>Live streaming </b></p>\n<p>Our live streaming ecosystem remained active and healthy, anchoring a thriving platform for us. The engagement level of our live streaming users improved to a higher level as evidenced by a DAUs penetration rate of over 70% in the second quarter of 2021 on Kuaishou App.</p>\n<p>With respect to content creation, we maintained our leadership in terms of number of active streamers and depth and breadth of content offering in various categories catering to different users’ interests, setting us apart from other platforms. The number of daily active streamers on our platform stayed elevated at about 1.9 million during the second quarter of 2021, attracting diverse user cohorts and contributing to a rich and healthy live streaming ecosystem.</p>\n<p>We have started undertaking initiatives to deepen monetization of live streaming in the public domain. Through extensive cooperation with talent agencies for live streaming, we have provided enhanced exposure to high-quality content in the public domain and had more systematic operations. In the second quarter of 2021, we launched Project Blue Ocean&nbsp;with the intention to cultivate long-term partnerships with talent agencies nationwide, to collaboratively facilitate healthy development of our live streaming ecosystem and promote high-quality live streaming content leveraging our massive public domain traffic. The drive to cooperate with more talent agencies has brought notable results. By June 30, 2021, the number of talent agencies on our collaboration roster increased by nearly 400% year-over-year comparing with that by June 30, 2020, helping us achieve a 16.9% quarter-over-quarter growth and an 18.2% year-over-year growth in monthly ARPPU for live streaming services on Kuaishou App.</p>\n<p>Besides leveraging public domain traffic to promote live streaming, we have also worked on enhancing the governance of live streaming in the private domain, which can inspire more trust and interaction from our users. We believe it will help us create more opportunities for superior content creators. With constant improvements in governance capabilities, traffic efficiency and content offering, we are committed to sustaining the healthy growth and vibrancy of our live streaming ecosystem. This allows content creators with a stickier follower base to further develop, which in turn improves our overall user stickiness and monetization potential of our platform.</p>\n<p><b>Other services including e-commerce </b></p>\n<p>Our other services maintained strong growth momentum in the second quarter of 2021 with revenue increasing by 212.9% year-over-year to RMB2.0 billion, primarily driven by e-commerce, which generated GMV of RMB145.4 billion, doubling from the GMV in the same period of last year. With respect to Kwai Shop, the closed-loop mode of our e-commerce business, its contribution to the total e-commerce GMV for the second quarter of 2021 increased to 90.7%, compared with 66.4% in the same period of 2020. We have continued to enhance the e-commerce infrastructure, including the introduction of tools to make the account opening and management procedures easier for merchants, operate their stores and utilize multi-dimensional data to analyze product performance and user behavior, facilitating and optimizing their product selection. Our closed-loop e-commerce ecosystem has also been further expanded and reinforced continuously.</p>\n<p>We further upgraded our e-commerce strategy, strengthening our advantageous trustbased e-commerce model through private domain, which is more suitable for promoting longtail or non-standardized products, while introducing more products from established brands through public domain. To be specific, we have adopted a two-pronged e-commerce strategy: first, solidify our competitive edge in trust-based e-commerce by leveraging the immersive nature of our content and the trust our merchants and streamers fostered through their private domain operations; second, work to fully unlock the value of the public domain in e-commerce by adding more branded products and gradually building users’ trust and confidence in our products and our platform.</p>\n<p>Private domain is the bread and butter of our platform. It contributed the majority of our total e-commerce GMV in the second quarter of 2021. As we continually refine our unique business model with content and trust at its core, this will further drive the average repeat purchase rate as well as the conversion rate to e-commerce buyers.</p>\n<p>In the public domain, we have strived for a full spectrum of business solutions to support brand self-operated e-commerce live streaming, which include elite distribution, public traffic support, private traffic conversion and operation as well as other brand supporting policies. These efforts have not only broadened our merchants base and merchandise supply, but also expanded users’ circle of trust from streamers to products and to our platform itself, which helps incentivize more e-commerce transactions and reinforce our position as a highly trusted one-stop e-commerce platform.</p>\n<p>In addition to supporting merchants, during the second quarter of 2021, we also spared no effort to enrich merchandise supply, strengthen platform governance for consumers, and enhance user experience, all aiming at further optimizing our e-commerce ecosystem.</p>\n<p>Our efforts on branded products have also effectively contributed to improvements on merchandise supply, as well as e-commerce DAUs penetration rate and average order value for e-commerce on Kuaishou App. In the second quarter of 2021, we have expanded our merchandise offerings beyond the top-selling categories of women’s apparel, jewelry and jade, beauty and cosmetics. Some emerging product categories such as men’s apparel and sportswear, home appliances and digital products, as well as household goods all achieved high growths in terms of e-commerce GMV during the second quarter of 2021, contributing to an increasing percentage of total e-commerce GMV on a quarter-over-quarter basis. Going forward, we will continue to explore more categories with sufficient scale and high e-commerce compatibility to further fuel our e-commerce GMV growth.</p>\n<p>Becoming a safe and trusted platform for users has always been our core value proposition. As such, we have continued to focus on quality control and ecosystem governance to safeguard a vibrant and healthy ecosystem. In the second quarter of 2021, we continued the reinforcement of Kuaishou Selection, our official platform of e-commerce product selection, which has improved the e-commerce experience for our users as well as the efficiency of influencers and merchants. First, we introduced more branded products to Kuaishou Selection in the second quarter of 2021. By providing and promoting officially selected branded items, we have enhanced the overall product quality on our marketplace, making the shopping experience more carefree for consumers. In addition, by deepening collaborative partnerships with brands, we have significantly broadened our selection of products for customers. Kuaishou Selection has also lowered the entry barriers for e-commerce streamers to promote merchandise on our platform and improved their activeness and engagement levels. Driven by these factors, total e-commerce GMV of Kuaishou Selection increased by nearly 90% on a quarter-over-quarter basis in the second quarter of 2021.</p>\n<p>We also proactively enhanced our ecosystem governance and consumer rights protection. In the second quarter of 2021, we launched a “Trust Card” that offers a series of guarantees provided by merchants to consumers, such as refund without return, compensation for fake goods, 7-day unconditional return, etc. We will continue to strengthen our platform governance to better protect the rights of our users and business partners, and improve overall customer experience.</p>\n<p><b>Overseas </b></p>\n<p>Overseas expansion has become one of our key strategic efforts given the time window and high growth potential in the overseas markets. The overseas short video and live streaming industry is much less mature and still at an earlier stage of development and commercialization. It has low user penetration and is full of opportunities for future growth and development with user needs yet to be fully met, representing significant and diverse monetization potential.</p>\n<p>Underpinned by our experience as the pioneer and a leader of the short video and live streaming industry, with deep insights, mature products and strong technological capabilities accumulated through more than a decade’s rich experience entrenched in the industry, and outstanding advantages in establishing and improving content ecosystems, we are ready to seize the current window of opportunity in the overseas markets by building interactive content communities and social platforms to encourage more people to create value through creation, communication and interaction.</p>\n<p>We strategically focus our overseas development efforts in countries and regions that have high population density, strong cultural acceptance for short videos and good upside monetization potential. In the first half of 2021, we primarily focused on markets in South America, Southeast Asia, and the Middle East. We have been actively investing in user acquisition and user activeness improvement. Simultaneously, we have been working to enrich and deepen our content ecosystem, encouraging localized content creation and growing content in different categories, which improve user engagement and retention, as well as rapidly establish an ecosystem that builds a self-reinforcing virtuous cycle between content community and user community. Besides encouraging user generated content, we have also proactively explored premium localized professionally generated content. In June 2021, we became an official sponsor and the official social media platform of the CONMEBOL Copa America 2021 held in Brazil, with rights to short video production of this event. Our successful operation of CONMEBOL Copa America 2021 events effectively improved the user engagement and activeness in the South America market.</p>\n<p>During our initial exploration of overseas markets, we achieved encouraging results that well exceeded our original expectations, further solidifying our resolve to grow our overseas business. In June 2021, we achieved MAUs of more than 180 million in the overseas markets. The growing user base in overseas markets helps us to gain better insights into our users by leveraging our technology and data analysis capabilities, enabling us to provide optimized recommendation algorithms, and continuously refine our products and user experience. All these investments, efforts and accumulated experience will be invaluable assets for our longer-term development in the broad overseas markets.</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>Kuaishou Technology Posts Qtrly Adjusted Net Loss Of RMB4.77 Billion</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\">\nKuaishou Technology Posts Qtrly Adjusted Net Loss Of RMB4.77 Billion\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-08-25 16:32</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Kuaishou Technology&nbsp;announced the unaudited consolidated results of the Company for the three and six months ended June 30, 2021.Kuaishou Technology’s revenue beat estimates.Sales rose to 19.1 billion yuan ($3 billion) for the three months ended June, versus the 18.7 billion yuan average forecast. Net loss was 7.04 billion yuan, compared with the 6.25 billion yuan loss projected.</p>\n<p><a href=\"https://laohu8.com/RN?name=RNLive&amp;rndata=%7B%22liveId%22:%2216296990282877%22%7D\" target=\"_blank\">Q2 2021 Kuaishou Technology Earnings Conference Call</a></p>\n<p><img src=\"https://static.tigerbbs.com/4b509844047790d8e963e13fc790db37\" tg-width=\"1189\" tg-height=\"596\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/1c164ab8bf034ae0500759913e971e79\" tg-width=\"1186\" tg-height=\"518\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/5c06cc6e67cb37fe31f2add56208fe29\" tg-width=\"1192\" tg-height=\"517\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ba8da541a6a01d31051ff7261e69f112\" tg-width=\"1188\" tg-height=\"331\" referrerpolicy=\"no-referrer\"></p>\n<p><b>BUSINESS REVIEW AND OUTLOOK </b></p>\n<p>As a leading content community and social platform with hundreds of millions of daily active users, we, Kuaishou, are well-positioned to continue cultivating a vibrant, trust-based ecosystem, while bolstering our monetization capabilities through better management of our massive traffic, and further strengthening our value proposition for our users and customers.</p>\n<p>Amid consistent improvements to the experience for users as well as service capability of advertisers and merchants, and efforts to empower them with our unique content and ecosystem, we achieved total revenues of RMB19.1 billion in the second quarter of 2021, representing a year-over-year increase of 48.8% which outpaced the 36.6% year-over-year increase in the first quarter of 2021. Revenues from online marketing services grew by 156.2% year-over-year to RMB10.0 billion in the second quarter of 2021, contributing over 50% of our total revenues once again. Revenues from other services including e-commerce increased by 212.9% year-over-year to RMB2.0 billion in the second quarter of 2021.</p>\n<p><b>Ecosystem </b></p>\n<p>Driven by our investments to continuously iterate traffic distribution algorithms and to enhance social trust and enrich content ecosystem, we further increased user engagement and user activeness on our platform. This helped propel the average daily time spent per DAU on Kuaishou App to reach 106.9 minutes in the second quarter of 2021, increasing by 7.7% quarter-over-quarter and 25.2% year-over-year. Leveraging the growing public domain traffic on our platform, we have continuously optimized our algorithms by deepening our insights and understanding of user behaviors and preferences in content consumption as well as the evolving user needs, which allows us to continuously improve our distribution algorithms, leading to further optimized user experience.</p>\n<p>Besides improvements in user engagement, we also achieved solid results in promoting user activeness. Through the improved efficiency of traditional user acquisition channels and retention measures as well as organic growth driven by strong social trust and diversified content, our DAUs to MAUs ratio reached 57.9% in the second quarter of 2021 on Kuaishou App, expanding by 1.1 percentage point quarter-over-quarter. Our average DAUs on Kuaishou App increased by 11.9% year-over-year to 293.2 million in the second quarter of 2021, while the year-over-year growth rate accelerated every month during the quarter, showing a healthy momentum. The growing user activeness was also driven by our improved user retention rate resulted from our efforts to facilitate full-cycle user management which spans user acquisition, user retention and monetization, as well as providing optimized content recommendation and personalized services. This synergistic user management also allows us to continuously improve our products and address user needs more promptly and effectively.</p>\n<p>The strong social trust is the backbone of our ecosystem and differentiates us from other industry players. In the second quarter of 2021, social trust was further strengthened on our platform, as demonstrated by the increasing number of pairs of mutual followers on Kuaishou App, which reached 12.6 billion pairs on a cumulative basis by the end of the second quarter of 2021, increasing by 60% year-over-year.</p>\n<p>Continuous expansion in our leading content categories and the scale and diversity of our content ecosystem also contributed to our increasing user engagement and growing user activeness. We have continually strived for differentiated and refined content offerings that cater to diverse user needs. Our featured Kuaishou Playlet&nbsp;delivered excellent results, contributing over 800 series of short plays, each of which received more than 100 million video views accumulatively by June 30, 2021, and including 40 exclusive series produced by our own Project Astral. On new content verticals side, we are proud to have become an industry benchmark in the sports category. In addition to our colorful professionally generated and user generated sports content library, we have recently become the official broadcaster of the Tokyo 2020 Summer Olympics and the Beijing 2022 Winter Olympics, bringing our users a more innovative sports viewing experience and an even more interactive experience in sports content creation through short videos and live streams.</p>\n<p>To encourage content creation and optimize content distribution, we have distributed not only short videos, but an increasing amount of premium live streaming and e-commerce content to users through refined algorithms for public domain traffic. By doing so, we have enabled our users to discover a broader variety of more interesting, meaningful and useful content that serve their new needs. This has also allowed our platform to become increasingly attractive and friendly to content creators, as evidenced by the number of high quality content creators growing continuously and healthily on a monthly basis during the second quarter of 2021. These factors further reinforced our strong flywheel effects in content creation and content consumption.</p>\n<p><b>Online marketing services </b></p>\n<p>We achieved strong online marketing services growth in the second quarter of 2021, with revenues increasing 156.2% year-over-year to RMB10.0 billion. In particular, revenues from brand advertisements maintained its high growth, outpacing the year-over-year growth rate of revenues from online marketing services once again, while the number of brand advertisers on our platform increased by nearly four times compared with the same period of last year. These results were driven by our continuous efforts to improve our brand image, marketing efficiency as well as service capabilities, helping brands attract and grow user base, increase popularities and further enhance user stickiness and loyalty through private domain operations.</p>\n<p>Brand advertisement has become one of the strategic focuses for us. As we continue to invest in infrastructure and tools to unlock the value of our massive traffic and improve efficiency for advertisers, we endeavor to establish a closed-loop solution offering endto-end online marketing services to brand advertisers. These marketing services include production of customized short video ads, live streaming marketing support, follower base and private traffic management, as well as e-commerce monetization. From this services tool box, our brand partners can execute their strategies in brand discovery, promotion and product sales all within our platform. This in turn enhances the environment for our content creators to reap rewards from their talents and establishes an all-in-one destination where our users can discover trusted brands and sources and even socialize and make purchases from them.</p>\n<p>To bring our solutions and platform-wide benefits to more brands, we have also expanded our sales teams for brand advertisements to cover more industries together with brand advertising agencies that further bolster our market reach. The main industries we focus on include fast moving consumer goods, beauty and cosmetics, and electronics. For each industry, we offer a customized traffic conversion model based on the industry’s characteristics, which we continually refine and upgrade</p>\n<p>On feeds advertisement, in order to boost our value proposition and drive strong return on investment for our advertising partners, we have been investing in infrastructure, which includes an iterative intelligent bidding system with improved advertising effectiveness and efficiency across the board. This system is underpinned by optimized algorithms to provide better matching between ad content and target audiences. With AI-based tools, we were able to assess the effectiveness of different ad content and assist in the production of creative content to not only generate higher returns for advertisers, but also maintain the user experience hence growing room for ad loads. These efforts helped drive our online marketing services with better effectiveness and stronger pricing power in the second quarter of 2021.</p>\n<p>On the product side, we launched the Magnetic Taurus&nbsp;platform in the second quarter of 2021, which provides comprehensive closed-loop e-commerce marketing solutions connecting public and private domain traffic. This platform offers multiple options for customization, as well as data visualization and data monitoring, which allows more precise marketing services for merchants. The introduction of Magnetic Taurus has helped improve the efficiency of our algorithms and traffic monetization capabilities and broaden the diversity of advertisers on our platform as well as enhance their engagement. Following the launch of Magnetic Taurus, the number of advertisers served by Magnetic Taurus has continuously increased.</p>\n<p><b>Live streaming </b></p>\n<p>Our live streaming ecosystem remained active and healthy, anchoring a thriving platform for us. The engagement level of our live streaming users improved to a higher level as evidenced by a DAUs penetration rate of over 70% in the second quarter of 2021 on Kuaishou App.</p>\n<p>With respect to content creation, we maintained our leadership in terms of number of active streamers and depth and breadth of content offering in various categories catering to different users’ interests, setting us apart from other platforms. The number of daily active streamers on our platform stayed elevated at about 1.9 million during the second quarter of 2021, attracting diverse user cohorts and contributing to a rich and healthy live streaming ecosystem.</p>\n<p>We have started undertaking initiatives to deepen monetization of live streaming in the public domain. Through extensive cooperation with talent agencies for live streaming, we have provided enhanced exposure to high-quality content in the public domain and had more systematic operations. In the second quarter of 2021, we launched Project Blue Ocean&nbsp;with the intention to cultivate long-term partnerships with talent agencies nationwide, to collaboratively facilitate healthy development of our live streaming ecosystem and promote high-quality live streaming content leveraging our massive public domain traffic. The drive to cooperate with more talent agencies has brought notable results. By June 30, 2021, the number of talent agencies on our collaboration roster increased by nearly 400% year-over-year comparing with that by June 30, 2020, helping us achieve a 16.9% quarter-over-quarter growth and an 18.2% year-over-year growth in monthly ARPPU for live streaming services on Kuaishou App.</p>\n<p>Besides leveraging public domain traffic to promote live streaming, we have also worked on enhancing the governance of live streaming in the private domain, which can inspire more trust and interaction from our users. We believe it will help us create more opportunities for superior content creators. With constant improvements in governance capabilities, traffic efficiency and content offering, we are committed to sustaining the healthy growth and vibrancy of our live streaming ecosystem. This allows content creators with a stickier follower base to further develop, which in turn improves our overall user stickiness and monetization potential of our platform.</p>\n<p><b>Other services including e-commerce </b></p>\n<p>Our other services maintained strong growth momentum in the second quarter of 2021 with revenue increasing by 212.9% year-over-year to RMB2.0 billion, primarily driven by e-commerce, which generated GMV of RMB145.4 billion, doubling from the GMV in the same period of last year. With respect to Kwai Shop, the closed-loop mode of our e-commerce business, its contribution to the total e-commerce GMV for the second quarter of 2021 increased to 90.7%, compared with 66.4% in the same period of 2020. We have continued to enhance the e-commerce infrastructure, including the introduction of tools to make the account opening and management procedures easier for merchants, operate their stores and utilize multi-dimensional data to analyze product performance and user behavior, facilitating and optimizing their product selection. Our closed-loop e-commerce ecosystem has also been further expanded and reinforced continuously.</p>\n<p>We further upgraded our e-commerce strategy, strengthening our advantageous trustbased e-commerce model through private domain, which is more suitable for promoting longtail or non-standardized products, while introducing more products from established brands through public domain. To be specific, we have adopted a two-pronged e-commerce strategy: first, solidify our competitive edge in trust-based e-commerce by leveraging the immersive nature of our content and the trust our merchants and streamers fostered through their private domain operations; second, work to fully unlock the value of the public domain in e-commerce by adding more branded products and gradually building users’ trust and confidence in our products and our platform.</p>\n<p>Private domain is the bread and butter of our platform. It contributed the majority of our total e-commerce GMV in the second quarter of 2021. As we continually refine our unique business model with content and trust at its core, this will further drive the average repeat purchase rate as well as the conversion rate to e-commerce buyers.</p>\n<p>In the public domain, we have strived for a full spectrum of business solutions to support brand self-operated e-commerce live streaming, which include elite distribution, public traffic support, private traffic conversion and operation as well as other brand supporting policies. These efforts have not only broadened our merchants base and merchandise supply, but also expanded users’ circle of trust from streamers to products and to our platform itself, which helps incentivize more e-commerce transactions and reinforce our position as a highly trusted one-stop e-commerce platform.</p>\n<p>In addition to supporting merchants, during the second quarter of 2021, we also spared no effort to enrich merchandise supply, strengthen platform governance for consumers, and enhance user experience, all aiming at further optimizing our e-commerce ecosystem.</p>\n<p>Our efforts on branded products have also effectively contributed to improvements on merchandise supply, as well as e-commerce DAUs penetration rate and average order value for e-commerce on Kuaishou App. In the second quarter of 2021, we have expanded our merchandise offerings beyond the top-selling categories of women’s apparel, jewelry and jade, beauty and cosmetics. Some emerging product categories such as men’s apparel and sportswear, home appliances and digital products, as well as household goods all achieved high growths in terms of e-commerce GMV during the second quarter of 2021, contributing to an increasing percentage of total e-commerce GMV on a quarter-over-quarter basis. Going forward, we will continue to explore more categories with sufficient scale and high e-commerce compatibility to further fuel our e-commerce GMV growth.</p>\n<p>Becoming a safe and trusted platform for users has always been our core value proposition. As such, we have continued to focus on quality control and ecosystem governance to safeguard a vibrant and healthy ecosystem. In the second quarter of 2021, we continued the reinforcement of Kuaishou Selection, our official platform of e-commerce product selection, which has improved the e-commerce experience for our users as well as the efficiency of influencers and merchants. First, we introduced more branded products to Kuaishou Selection in the second quarter of 2021. By providing and promoting officially selected branded items, we have enhanced the overall product quality on our marketplace, making the shopping experience more carefree for consumers. In addition, by deepening collaborative partnerships with brands, we have significantly broadened our selection of products for customers. Kuaishou Selection has also lowered the entry barriers for e-commerce streamers to promote merchandise on our platform and improved their activeness and engagement levels. Driven by these factors, total e-commerce GMV of Kuaishou Selection increased by nearly 90% on a quarter-over-quarter basis in the second quarter of 2021.</p>\n<p>We also proactively enhanced our ecosystem governance and consumer rights protection. In the second quarter of 2021, we launched a “Trust Card” that offers a series of guarantees provided by merchants to consumers, such as refund without return, compensation for fake goods, 7-day unconditional return, etc. We will continue to strengthen our platform governance to better protect the rights of our users and business partners, and improve overall customer experience.</p>\n<p><b>Overseas </b></p>\n<p>Overseas expansion has become one of our key strategic efforts given the time window and high growth potential in the overseas markets. The overseas short video and live streaming industry is much less mature and still at an earlier stage of development and commercialization. It has low user penetration and is full of opportunities for future growth and development with user needs yet to be fully met, representing significant and diverse monetization potential.</p>\n<p>Underpinned by our experience as the pioneer and a leader of the short video and live streaming industry, with deep insights, mature products and strong technological capabilities accumulated through more than a decade’s rich experience entrenched in the industry, and outstanding advantages in establishing and improving content ecosystems, we are ready to seize the current window of opportunity in the overseas markets by building interactive content communities and social platforms to encourage more people to create value through creation, communication and interaction.</p>\n<p>We strategically focus our overseas development efforts in countries and regions that have high population density, strong cultural acceptance for short videos and good upside monetization potential. In the first half of 2021, we primarily focused on markets in South America, Southeast Asia, and the Middle East. We have been actively investing in user acquisition and user activeness improvement. Simultaneously, we have been working to enrich and deepen our content ecosystem, encouraging localized content creation and growing content in different categories, which improve user engagement and retention, as well as rapidly establish an ecosystem that builds a self-reinforcing virtuous cycle between content community and user community. Besides encouraging user generated content, we have also proactively explored premium localized professionally generated content. In June 2021, we became an official sponsor and the official social media platform of the CONMEBOL Copa America 2021 held in Brazil, with rights to short video production of this event. Our successful operation of CONMEBOL Copa America 2021 events effectively improved the user engagement and activeness in the South America market.</p>\n<p>During our initial exploration of overseas markets, we achieved encouraging results that well exceeded our original expectations, further solidifying our resolve to grow our overseas business. In June 2021, we achieved MAUs of more than 180 million in the overseas markets. The growing user base in overseas markets helps us to gain better insights into our users by leveraging our technology and data analysis capabilities, enabling us to provide optimized recommendation algorithms, and continuously refine our products and user experience. All these investments, efforts and accumulated experience will be invaluable assets for our longer-term development in the broad overseas markets.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"01024":"快手-W"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1138197095","content_text":"Kuaishou Technology announced the unaudited consolidated results of the Company for the three and six months ended June 30, 2021.Kuaishou Technology’s revenue beat estimates.Sales rose to 19.1 billion yuan ($3 billion) for the three months ended June, versus the 18.7 billion yuan average forecast. Net loss was 7.04 billion yuan, compared with the 6.25 billion yuan loss projected.\nQ2 2021 Kuaishou Technology Earnings Conference Call\n\nBUSINESS REVIEW AND OUTLOOK \nAs a leading content community and social platform with hundreds of millions of daily active users, we, Kuaishou, are well-positioned to continue cultivating a vibrant, trust-based ecosystem, while bolstering our monetization capabilities through better management of our massive traffic, and further strengthening our value proposition for our users and customers.\nAmid consistent improvements to the experience for users as well as service capability of advertisers and merchants, and efforts to empower them with our unique content and ecosystem, we achieved total revenues of RMB19.1 billion in the second quarter of 2021, representing a year-over-year increase of 48.8% which outpaced the 36.6% year-over-year increase in the first quarter of 2021. Revenues from online marketing services grew by 156.2% year-over-year to RMB10.0 billion in the second quarter of 2021, contributing over 50% of our total revenues once again. Revenues from other services including e-commerce increased by 212.9% year-over-year to RMB2.0 billion in the second quarter of 2021.\nEcosystem \nDriven by our investments to continuously iterate traffic distribution algorithms and to enhance social trust and enrich content ecosystem, we further increased user engagement and user activeness on our platform. This helped propel the average daily time spent per DAU on Kuaishou App to reach 106.9 minutes in the second quarter of 2021, increasing by 7.7% quarter-over-quarter and 25.2% year-over-year. Leveraging the growing public domain traffic on our platform, we have continuously optimized our algorithms by deepening our insights and understanding of user behaviors and preferences in content consumption as well as the evolving user needs, which allows us to continuously improve our distribution algorithms, leading to further optimized user experience.\nBesides improvements in user engagement, we also achieved solid results in promoting user activeness. Through the improved efficiency of traditional user acquisition channels and retention measures as well as organic growth driven by strong social trust and diversified content, our DAUs to MAUs ratio reached 57.9% in the second quarter of 2021 on Kuaishou App, expanding by 1.1 percentage point quarter-over-quarter. Our average DAUs on Kuaishou App increased by 11.9% year-over-year to 293.2 million in the second quarter of 2021, while the year-over-year growth rate accelerated every month during the quarter, showing a healthy momentum. The growing user activeness was also driven by our improved user retention rate resulted from our efforts to facilitate full-cycle user management which spans user acquisition, user retention and monetization, as well as providing optimized content recommendation and personalized services. This synergistic user management also allows us to continuously improve our products and address user needs more promptly and effectively.\nThe strong social trust is the backbone of our ecosystem and differentiates us from other industry players. In the second quarter of 2021, social trust was further strengthened on our platform, as demonstrated by the increasing number of pairs of mutual followers on Kuaishou App, which reached 12.6 billion pairs on a cumulative basis by the end of the second quarter of 2021, increasing by 60% year-over-year.\nContinuous expansion in our leading content categories and the scale and diversity of our content ecosystem also contributed to our increasing user engagement and growing user activeness. We have continually strived for differentiated and refined content offerings that cater to diverse user needs. Our featured Kuaishou Playlet delivered excellent results, contributing over 800 series of short plays, each of which received more than 100 million video views accumulatively by June 30, 2021, and including 40 exclusive series produced by our own Project Astral. On new content verticals side, we are proud to have become an industry benchmark in the sports category. In addition to our colorful professionally generated and user generated sports content library, we have recently become the official broadcaster of the Tokyo 2020 Summer Olympics and the Beijing 2022 Winter Olympics, bringing our users a more innovative sports viewing experience and an even more interactive experience in sports content creation through short videos and live streams.\nTo encourage content creation and optimize content distribution, we have distributed not only short videos, but an increasing amount of premium live streaming and e-commerce content to users through refined algorithms for public domain traffic. By doing so, we have enabled our users to discover a broader variety of more interesting, meaningful and useful content that serve their new needs. This has also allowed our platform to become increasingly attractive and friendly to content creators, as evidenced by the number of high quality content creators growing continuously and healthily on a monthly basis during the second quarter of 2021. These factors further reinforced our strong flywheel effects in content creation and content consumption.\nOnline marketing services \nWe achieved strong online marketing services growth in the second quarter of 2021, with revenues increasing 156.2% year-over-year to RMB10.0 billion. In particular, revenues from brand advertisements maintained its high growth, outpacing the year-over-year growth rate of revenues from online marketing services once again, while the number of brand advertisers on our platform increased by nearly four times compared with the same period of last year. These results were driven by our continuous efforts to improve our brand image, marketing efficiency as well as service capabilities, helping brands attract and grow user base, increase popularities and further enhance user stickiness and loyalty through private domain operations.\nBrand advertisement has become one of the strategic focuses for us. As we continue to invest in infrastructure and tools to unlock the value of our massive traffic and improve efficiency for advertisers, we endeavor to establish a closed-loop solution offering endto-end online marketing services to brand advertisers. These marketing services include production of customized short video ads, live streaming marketing support, follower base and private traffic management, as well as e-commerce monetization. From this services tool box, our brand partners can execute their strategies in brand discovery, promotion and product sales all within our platform. This in turn enhances the environment for our content creators to reap rewards from their talents and establishes an all-in-one destination where our users can discover trusted brands and sources and even socialize and make purchases from them.\nTo bring our solutions and platform-wide benefits to more brands, we have also expanded our sales teams for brand advertisements to cover more industries together with brand advertising agencies that further bolster our market reach. The main industries we focus on include fast moving consumer goods, beauty and cosmetics, and electronics. For each industry, we offer a customized traffic conversion model based on the industry’s characteristics, which we continually refine and upgrade\nOn feeds advertisement, in order to boost our value proposition and drive strong return on investment for our advertising partners, we have been investing in infrastructure, which includes an iterative intelligent bidding system with improved advertising effectiveness and efficiency across the board. This system is underpinned by optimized algorithms to provide better matching between ad content and target audiences. With AI-based tools, we were able to assess the effectiveness of different ad content and assist in the production of creative content to not only generate higher returns for advertisers, but also maintain the user experience hence growing room for ad loads. These efforts helped drive our online marketing services with better effectiveness and stronger pricing power in the second quarter of 2021.\nOn the product side, we launched the Magnetic Taurus platform in the second quarter of 2021, which provides comprehensive closed-loop e-commerce marketing solutions connecting public and private domain traffic. This platform offers multiple options for customization, as well as data visualization and data monitoring, which allows more precise marketing services for merchants. The introduction of Magnetic Taurus has helped improve the efficiency of our algorithms and traffic monetization capabilities and broaden the diversity of advertisers on our platform as well as enhance their engagement. Following the launch of Magnetic Taurus, the number of advertisers served by Magnetic Taurus has continuously increased.\nLive streaming \nOur live streaming ecosystem remained active and healthy, anchoring a thriving platform for us. The engagement level of our live streaming users improved to a higher level as evidenced by a DAUs penetration rate of over 70% in the second quarter of 2021 on Kuaishou App.\nWith respect to content creation, we maintained our leadership in terms of number of active streamers and depth and breadth of content offering in various categories catering to different users’ interests, setting us apart from other platforms. The number of daily active streamers on our platform stayed elevated at about 1.9 million during the second quarter of 2021, attracting diverse user cohorts and contributing to a rich and healthy live streaming ecosystem.\nWe have started undertaking initiatives to deepen monetization of live streaming in the public domain. Through extensive cooperation with talent agencies for live streaming, we have provided enhanced exposure to high-quality content in the public domain and had more systematic operations. In the second quarter of 2021, we launched Project Blue Ocean with the intention to cultivate long-term partnerships with talent agencies nationwide, to collaboratively facilitate healthy development of our live streaming ecosystem and promote high-quality live streaming content leveraging our massive public domain traffic. The drive to cooperate with more talent agencies has brought notable results. By June 30, 2021, the number of talent agencies on our collaboration roster increased by nearly 400% year-over-year comparing with that by June 30, 2020, helping us achieve a 16.9% quarter-over-quarter growth and an 18.2% year-over-year growth in monthly ARPPU for live streaming services on Kuaishou App.\nBesides leveraging public domain traffic to promote live streaming, we have also worked on enhancing the governance of live streaming in the private domain, which can inspire more trust and interaction from our users. We believe it will help us create more opportunities for superior content creators. With constant improvements in governance capabilities, traffic efficiency and content offering, we are committed to sustaining the healthy growth and vibrancy of our live streaming ecosystem. This allows content creators with a stickier follower base to further develop, which in turn improves our overall user stickiness and monetization potential of our platform.\nOther services including e-commerce \nOur other services maintained strong growth momentum in the second quarter of 2021 with revenue increasing by 212.9% year-over-year to RMB2.0 billion, primarily driven by e-commerce, which generated GMV of RMB145.4 billion, doubling from the GMV in the same period of last year. With respect to Kwai Shop, the closed-loop mode of our e-commerce business, its contribution to the total e-commerce GMV for the second quarter of 2021 increased to 90.7%, compared with 66.4% in the same period of 2020. We have continued to enhance the e-commerce infrastructure, including the introduction of tools to make the account opening and management procedures easier for merchants, operate their stores and utilize multi-dimensional data to analyze product performance and user behavior, facilitating and optimizing their product selection. Our closed-loop e-commerce ecosystem has also been further expanded and reinforced continuously.\nWe further upgraded our e-commerce strategy, strengthening our advantageous trustbased e-commerce model through private domain, which is more suitable for promoting longtail or non-standardized products, while introducing more products from established brands through public domain. To be specific, we have adopted a two-pronged e-commerce strategy: first, solidify our competitive edge in trust-based e-commerce by leveraging the immersive nature of our content and the trust our merchants and streamers fostered through their private domain operations; second, work to fully unlock the value of the public domain in e-commerce by adding more branded products and gradually building users’ trust and confidence in our products and our platform.\nPrivate domain is the bread and butter of our platform. It contributed the majority of our total e-commerce GMV in the second quarter of 2021. As we continually refine our unique business model with content and trust at its core, this will further drive the average repeat purchase rate as well as the conversion rate to e-commerce buyers.\nIn the public domain, we have strived for a full spectrum of business solutions to support brand self-operated e-commerce live streaming, which include elite distribution, public traffic support, private traffic conversion and operation as well as other brand supporting policies. These efforts have not only broadened our merchants base and merchandise supply, but also expanded users’ circle of trust from streamers to products and to our platform itself, which helps incentivize more e-commerce transactions and reinforce our position as a highly trusted one-stop e-commerce platform.\nIn addition to supporting merchants, during the second quarter of 2021, we also spared no effort to enrich merchandise supply, strengthen platform governance for consumers, and enhance user experience, all aiming at further optimizing our e-commerce ecosystem.\nOur efforts on branded products have also effectively contributed to improvements on merchandise supply, as well as e-commerce DAUs penetration rate and average order value for e-commerce on Kuaishou App. In the second quarter of 2021, we have expanded our merchandise offerings beyond the top-selling categories of women’s apparel, jewelry and jade, beauty and cosmetics. Some emerging product categories such as men’s apparel and sportswear, home appliances and digital products, as well as household goods all achieved high growths in terms of e-commerce GMV during the second quarter of 2021, contributing to an increasing percentage of total e-commerce GMV on a quarter-over-quarter basis. Going forward, we will continue to explore more categories with sufficient scale and high e-commerce compatibility to further fuel our e-commerce GMV growth.\nBecoming a safe and trusted platform for users has always been our core value proposition. As such, we have continued to focus on quality control and ecosystem governance to safeguard a vibrant and healthy ecosystem. In the second quarter of 2021, we continued the reinforcement of Kuaishou Selection, our official platform of e-commerce product selection, which has improved the e-commerce experience for our users as well as the efficiency of influencers and merchants. First, we introduced more branded products to Kuaishou Selection in the second quarter of 2021. By providing and promoting officially selected branded items, we have enhanced the overall product quality on our marketplace, making the shopping experience more carefree for consumers. In addition, by deepening collaborative partnerships with brands, we have significantly broadened our selection of products for customers. Kuaishou Selection has also lowered the entry barriers for e-commerce streamers to promote merchandise on our platform and improved their activeness and engagement levels. Driven by these factors, total e-commerce GMV of Kuaishou Selection increased by nearly 90% on a quarter-over-quarter basis in the second quarter of 2021.\nWe also proactively enhanced our ecosystem governance and consumer rights protection. In the second quarter of 2021, we launched a “Trust Card” that offers a series of guarantees provided by merchants to consumers, such as refund without return, compensation for fake goods, 7-day unconditional return, etc. We will continue to strengthen our platform governance to better protect the rights of our users and business partners, and improve overall customer experience.\nOverseas \nOverseas expansion has become one of our key strategic efforts given the time window and high growth potential in the overseas markets. The overseas short video and live streaming industry is much less mature and still at an earlier stage of development and commercialization. It has low user penetration and is full of opportunities for future growth and development with user needs yet to be fully met, representing significant and diverse monetization potential.\nUnderpinned by our experience as the pioneer and a leader of the short video and live streaming industry, with deep insights, mature products and strong technological capabilities accumulated through more than a decade’s rich experience entrenched in the industry, and outstanding advantages in establishing and improving content ecosystems, we are ready to seize the current window of opportunity in the overseas markets by building interactive content communities and social platforms to encourage more people to create value through creation, communication and interaction.\nWe strategically focus our overseas development efforts in countries and regions that have high population density, strong cultural acceptance for short videos and good upside monetization potential. In the first half of 2021, we primarily focused on markets in South America, Southeast Asia, and the Middle East. We have been actively investing in user acquisition and user activeness improvement. Simultaneously, we have been working to enrich and deepen our content ecosystem, encouraging localized content creation and growing content in different categories, which improve user engagement and retention, as well as rapidly establish an ecosystem that builds a self-reinforcing virtuous cycle between content community and user community. Besides encouraging user generated content, we have also proactively explored premium localized professionally generated content. In June 2021, we became an official sponsor and the official social media platform of the CONMEBOL Copa America 2021 held in Brazil, with rights to short video production of this event. Our successful operation of CONMEBOL Copa America 2021 events effectively improved the user engagement and activeness in the South America market.\nDuring our initial exploration of overseas markets, we achieved encouraging results that well exceeded our original expectations, further solidifying our resolve to grow our overseas business. In June 2021, we achieved MAUs of more than 180 million in the overseas markets. The growing user base in overseas markets helps us to gain better insights into our users by leveraging our technology and data analysis capabilities, enabling us to provide optimized recommendation algorithms, and continuously refine our products and user experience. All these investments, efforts and accumulated experience will be invaluable assets for our longer-term development in the broad overseas markets.","news_type":1},"isVote":1,"tweetType":1,"viewCount":607,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":835665696,"gmtCreate":1629712784115,"gmtModify":1631890259873,"author":{"id":"3587085224026177","authorId":"3587085224026177","name":"Jessyyyyy","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3587085224026177","authorIdStr":"3587085224026177"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/835665696","repostId":"1190758315","repostType":4,"repost":{"id":"1190758315","kind":"news","pubTimestamp":1629712689,"share":"https://www.laohu8.com/m/news/1190758315?lang=&edition=full","pubTime":"2021-08-23 17:58","market":"us","language":"en","title":"Paysafe: Where Is The Floor?","url":"https://stock-news.laohu8.com/highlight/detail?id=1190758315","media":"seekingalpha","summary":"Summary\n\nPaysafe's revenue growth for its fiscal 2021 second quarter has sped up.\nHigh leverage has ","content":"<p><b>Summary</b></p>\n<ul>\n <li>Paysafe's revenue growth for its fiscal 2021 second quarter has sped up.</li>\n <li>High leverage has hampered profitability and will remain a headwind until the company generates enough free cash flow on a quarterly basis to pay it back.</li>\n <li>The share price continues to fall on the back of negative SPAC sentiment.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/86757d2b7d17b7fe7071210bad77f795\" tg-width=\"1536\" tg-height=\"800\" width=\"100%\" height=\"auto\"><span>ipopba/iStock via Getty Images</span></p>\n<p>Paysafe's (PSFE) fall was immediately followed by another fall. The company has now become one of the poster boys for the decline of special purpose acquisition companies and DeSPACs. Of how a go-public conduit that was once held in high regard eventually came crashing down when exposed to the advent of time. For many Paysafe bulls, the worst possible scenario has come to pass. But they are not alone, nearly all investors in DeSPACs are feeling the smoke from the burning of their respective investments. This is despite these targeting entirely different sectors, customers, and geographies.</p>\n<p>To illustrate this conundrum, a riddle. What does a dog toy company, a direct-to-consumer telehealth company, a digital lender, and Paysafe have in common apart from having been SPACs?</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/88b2c677e09e609cb1130119524f7580\" tg-width=\"635\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p>\n<p>Paysafe's bulls have been left reeling, we all have. As DeSPACs regardless of their underlying financials and industry continue to show a strong correlation with each other. I continue to believe this to be a short-term aberration. In the longer term, it should melt and allow companies with solid financials to rise to higher values.</p>\n<p>The problem left for Paysafe bulls is does the company possess these solid financials?</p>\n<p><b>Leverage, Faster Growth, And Cash Burn</b></p>\n<p>Paysafe recently published its fiscal 2021 second-quarter results. This saw the company realize revenue of$384.34 million, a year-over-year increase of 12.7% and a beat of $5.9 million on analyst estimates. It's encouraging that the rate of revenue growth sped up from the 5% recorded in the previous quarter as the company was able to record a 41% YoY growth in payment volume to $32 billion.</p>\n<p>Unfortunately, this did not translate to material net profit for the period which came in at just $6.6 million, albeit an improvement on the net loss of $15.9 million in the year-ago quarter. For its 2021 fiscal year, Paysafe expects revenue to be in the range of $1.53 billion to $1.55 billion versus a consensus of $1.55 billion. Adjusted EBITDA is expected to be in the range of $480 million to $495 million. This places the company's forward price to revenue multiple at 3.85x. Of course, this rises to 5x when the net debt of $1.87 billion Paysafe held on its balance as at the end of the quarter is considered.</p>\n<p>Indeed, the company held long-term debt of $2.1 billion only partially offset by cash and equivalents of $248 million. As free cash flow during the quarter was negative at $8.5 million, the company is not currently in the position of being able to pay back its debt through its operations. This cost $61 million in interest payment during the quarter, up 15% from the year-ago quarter and around 9x times net income during the period. This debt was inherited from the company's previous private equity owners and will restrict the company's operational capacity until it can be paid off from consistent free cash flow.</p>\n<p>The company also announced the acquisition ofSafetypay, a Florida-based payments platform that enables eCommerce transactions and operating primarily in Latin America. However, while the acquisition cost of $441 million was provided, the underlying financials for Safetypay was not.</p>\n<p><b>What Comes Next?</b></p>\n<p>I like many other investors in SPAC companies expected Q2 2021 results period to be when the correlation begins to melt and a period that would allow stronger companies to start detaching themselves from the SPAC herd. However, this correlation only seems to have heightened. In this sense, Paysafe's Q2 2021 results never really mattered. Whether good or bad the common shares would have fallen. This systematic selloff of SPACs is a holdout from the SPACs are dead trade mantra.</p>\n<p><b>So what comes next?</b></p>\n<p>There will eventually be a detachment from the retail-led ebbs and flows of the wider SPAC market and Paysafe might stand to benefit whenever this happens. The Q2 results were decent with growth picking up and the company improving its profitability. While I'd stop short of calling the financials solid as high debt will continue to weigh down on profitability, Paysafe is not standing still and stands to benefit from the expanding North America iGaming market. For future returns, Paysafe bulls should in the interim look to the wider SPAC market where sentiment currently sits at rock bottom. In the longer term, look to higher profitability to support a concrete plan by management to materially reduce debt. This will help the company reduce its current $200 million annual interest cost.</p>\n<p>DeSPACs are not standing still. And I continue to believe that current negative sentiment has run its course and the sell SPAC trade too crowded. Hence, just as time saw companies once held in high regard come crashing down, it will see them rise back up.</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>Paysafe: Where Is The Floor?</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\">\nPaysafe: Where Is The Floor?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-23 17:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4451055-paysafe-where-is-the-floor><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nPaysafe's revenue growth for its fiscal 2021 second quarter has sped up.\nHigh leverage has hampered profitability and will remain a headwind until the company generates enough free cash flow ...</p>\n\n<a href=\"https://seekingalpha.com/article/4451055-paysafe-where-is-the-floor\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PSFE":"Paysafe Ltd"},"source_url":"https://seekingalpha.com/article/4451055-paysafe-where-is-the-floor","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190758315","content_text":"Summary\n\nPaysafe's revenue growth for its fiscal 2021 second quarter has sped up.\nHigh leverage has hampered profitability and will remain a headwind until the company generates enough free cash flow on a quarterly basis to pay it back.\nThe share price continues to fall on the back of negative SPAC sentiment.\n\nipopba/iStock via Getty Images\nPaysafe's (PSFE) fall was immediately followed by another fall. The company has now become one of the poster boys for the decline of special purpose acquisition companies and DeSPACs. Of how a go-public conduit that was once held in high regard eventually came crashing down when exposed to the advent of time. For many Paysafe bulls, the worst possible scenario has come to pass. But they are not alone, nearly all investors in DeSPACs are feeling the smoke from the burning of their respective investments. This is despite these targeting entirely different sectors, customers, and geographies.\nTo illustrate this conundrum, a riddle. What does a dog toy company, a direct-to-consumer telehealth company, a digital lender, and Paysafe have in common apart from having been SPACs?\nData by YCharts\nPaysafe's bulls have been left reeling, we all have. As DeSPACs regardless of their underlying financials and industry continue to show a strong correlation with each other. I continue to believe this to be a short-term aberration. In the longer term, it should melt and allow companies with solid financials to rise to higher values.\nThe problem left for Paysafe bulls is does the company possess these solid financials?\nLeverage, Faster Growth, And Cash Burn\nPaysafe recently published its fiscal 2021 second-quarter results. This saw the company realize revenue of$384.34 million, a year-over-year increase of 12.7% and a beat of $5.9 million on analyst estimates. It's encouraging that the rate of revenue growth sped up from the 5% recorded in the previous quarter as the company was able to record a 41% YoY growth in payment volume to $32 billion.\nUnfortunately, this did not translate to material net profit for the period which came in at just $6.6 million, albeit an improvement on the net loss of $15.9 million in the year-ago quarter. For its 2021 fiscal year, Paysafe expects revenue to be in the range of $1.53 billion to $1.55 billion versus a consensus of $1.55 billion. Adjusted EBITDA is expected to be in the range of $480 million to $495 million. This places the company's forward price to revenue multiple at 3.85x. Of course, this rises to 5x when the net debt of $1.87 billion Paysafe held on its balance as at the end of the quarter is considered.\nIndeed, the company held long-term debt of $2.1 billion only partially offset by cash and equivalents of $248 million. As free cash flow during the quarter was negative at $8.5 million, the company is not currently in the position of being able to pay back its debt through its operations. This cost $61 million in interest payment during the quarter, up 15% from the year-ago quarter and around 9x times net income during the period. This debt was inherited from the company's previous private equity owners and will restrict the company's operational capacity until it can be paid off from consistent free cash flow.\nThe company also announced the acquisition ofSafetypay, a Florida-based payments platform that enables eCommerce transactions and operating primarily in Latin America. However, while the acquisition cost of $441 million was provided, the underlying financials for Safetypay was not.\nWhat Comes Next?\nI like many other investors in SPAC companies expected Q2 2021 results period to be when the correlation begins to melt and a period that would allow stronger companies to start detaching themselves from the SPAC herd. However, this correlation only seems to have heightened. In this sense, Paysafe's Q2 2021 results never really mattered. Whether good or bad the common shares would have fallen. This systematic selloff of SPACs is a holdout from the SPACs are dead trade mantra.\nSo what comes next?\nThere will eventually be a detachment from the retail-led ebbs and flows of the wider SPAC market and Paysafe might stand to benefit whenever this happens. The Q2 results were decent with growth picking up and the company improving its profitability. While I'd stop short of calling the financials solid as high debt will continue to weigh down on profitability, Paysafe is not standing still and stands to benefit from the expanding North America iGaming market. For future returns, Paysafe bulls should in the interim look to the wider SPAC market where sentiment currently sits at rock bottom. In the longer term, look to higher profitability to support a concrete plan by management to materially reduce debt. This will help the company reduce its current $200 million annual interest cost.\nDeSPACs are not standing still. And I continue to believe that current negative sentiment has run its course and the sell SPAC trade too crowded. Hence, just as time saw companies once held in high regard come crashing down, it will see them rise back up.","news_type":1},"isVote":1,"tweetType":1,"viewCount":717,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":830059550,"gmtCreate":1628995152770,"gmtModify":1631890259884,"author":{"id":"3587085224026177","authorId":"3587085224026177","name":"Jessyyyyy","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3587085224026177","authorIdStr":"3587085224026177"},"themes":[],"htmlText":"Better","listText":"Better","text":"Better","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/830059550","repostId":"2159145532","repostType":4,"isVote":1,"tweetType":1,"viewCount":672,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":897969388,"gmtCreate":1628868580144,"gmtModify":1631890259926,"author":{"id":"3587085224026177","authorId":"3587085224026177","name":"Jessyyyyy","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3587085224026177","authorIdStr":"3587085224026177"},"themes":[],"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/897969388","repostId":"2159657218","repostType":4,"isVote":1,"tweetType":1,"viewCount":581,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":895023429,"gmtCreate":1628695511461,"gmtModify":1631890259930,"author":{"id":"3587085224026177","authorId":"3587085224026177","name":"Jessyyyyy","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3587085224026177","authorIdStr":"3587085224026177"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/895023429","repostId":"2158280307","repostType":4,"isVote":1,"tweetType":1,"viewCount":839,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":896152776,"gmtCreate":1628563592795,"gmtModify":1631890259939,"author":{"id":"3587085224026177","authorId":"3587085224026177","name":"Jessyyyyy","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3587085224026177","authorIdStr":"3587085224026177"},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/896152776","repostId":"1196813173","repostType":4,"repost":{"id":"1196813173","kind":"news","pubTimestamp":1628550902,"share":"https://www.laohu8.com/m/news/1196813173?lang=&edition=full","pubTime":"2021-08-10 07:15","market":"us","language":"en","title":"Stocks making the biggest moves in the premarket: Casper Sleep, AMC Entertainment, 3D Systems and more","url":"https://stock-news.laohu8.com/highlight/detail?id=1196813173","media":"CNBC","summary":"Casper Sleep Inc. – The sleep products company reported record quarterly revenue that came in above ","content":"<div>\n<p>Casper Sleep Inc. – The sleep products company reported record quarterly revenue that came in above Street forecasts, though it still reported a quarterly loss. Casper Sleep said it saw strong growth ...</p>\n\n<a href=\"https://www.cnbc.com/2021/08/10/stocks-making-the-biggest-moves-in-the-premarket-casper-sleep-amc-entertainment-3d-systems-and-more.html?&qsearchterm=biggest%20moves\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","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>Stocks making the biggest moves in the premarket: Casper Sleep, AMC Entertainment, 3D Systems and more</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\">\nStocks making the biggest moves in the premarket: Casper Sleep, AMC Entertainment, 3D Systems and more\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-10 07:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/08/10/stocks-making-the-biggest-moves-in-the-premarket-casper-sleep-amc-entertainment-3d-systems-and-more.html?&qsearchterm=biggest%20moves><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Casper Sleep Inc. – The sleep products company reported record quarterly revenue that came in above Street forecasts, though it still reported a quarterly loss. Casper Sleep said it saw strong growth ...</p>\n\n<a href=\"https://www.cnbc.com/2021/08/10/stocks-making-the-biggest-moves-in-the-premarket-casper-sleep-amc-entertainment-3d-systems-and-more.html?&qsearchterm=biggest%20moves\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DDD":"3D系统","IHG":"洲际酒店","ARMK":"Aramark","KSU":"堪萨斯南方铁路","PLNT":"Planet Fitness Inc","CHGG":"Chegg Inc","IIVI":"COHERENT CORP 6.00% MANDATORY CON PFD SER A","AMC":"AMC院线"},"source_url":"https://www.cnbc.com/2021/08/10/stocks-making-the-biggest-moves-in-the-premarket-casper-sleep-amc-entertainment-3d-systems-and-more.html?&qsearchterm=biggest%20moves","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1196813173","content_text":"Casper Sleep Inc. – The sleep products company reported record quarterly revenue that came in above Street forecasts, though it still reported a quarterly loss. Casper Sleep said it saw strong growth in both retail and direct-to-consumer sales channels, but noted that it is also dealing with higher input costs and supply chain difficulties. Shares initially rallied in the premarket, but subsequently tumbled 6.1%.\nAMC Entertainment – AMC reported a quarterly loss of 71 cents per share, 20 cents a share smaller than Wall Street had anticipated. Revenue came in above analysts’ forecasts. AMC was helped by the lifting of Covid restrictions and the return of moviegoers to theaters, along with the release of several hit movies. Its shares surged 7.8% in premarket action.\n3D – 3D Systems earned 12 cents per share for its latest quarter, beating the 5 cents a share consensus estimate. The 3D printing technology company’s revenue beat estimates as well. 3D said it had successfully come through the most challenging 12 months it had ever experienced amid the pandemic. 3D’s stock soared 14.1% in premarket action.\nKansas City Southern –Canadian Pacific Railway(CP) raised its cash-and-stock offer for Kansas City Southern to about $300 per share. Canadian Pacific had struck a deal to buy its rival rail operator for $275 per share, but Kansas City Southern subsequently agreed to a higher offer fromCanadian National Railway(CNI). Kansas City Southern surged 7.2% in the premarket, while Canadian Pacific lost 1.7% and Canadian National rose 1.9%.\nAramark – The foodservice company reported a quarterly profit of 3 cents per share, beating the penny a share consensus estimate. Revenue came in slightly below forecasts. Aramark said it benefited from rebounding sales volume as well as effective cost management. Aramark shares added 1.3% in the premarket.\nPlanet Fitness – Planet Fitness missed estimates by 2 cents a share, with quarterly earnings of 21 cents per share. Revenue topped estimates as gyms reopened and membership numbers increased for the fitness center operator. Shares fell 3.2% in the premarket.\nThe RealReal – The RealReal lost 50 cents per share for its latest quarter, 3 cents a share wider than analysts had anticipated. The operator of an online pre-owned luxury goods marketplace also saw revenue fall short of estimates. The company said gross merchandise volume was up 91% compared to a year ago, and up 84.5% from repeat buyers. The stock slid 6% in premarket trading.\nChegg – Chegg beat estimates by 6 cents a share, with quarterly earnings of 43 cents per share. The online education company’s revenue also topped forecasts. Chegg raised its full-year outlook, saying its international growth continues to be strong. Its shares added 2.9% in the premarket.\nInterContinental Hotels Group PLC – InterContinental Hotels reported an operating profit for the first six months of the year, rebounding from a year-ago loss as summer vacation bookings jumped. The operator of Holiday Inn and other hotel chains eliminated its dividend to cut costs, however, sending its shares down 1.6% in premarket trading.\nII-VI Inc – The maker of optoelectronic components beat estimates on the top and bottom lines for its latest quarter, earning 88 cents per share compared to a 76 cents a share consensus estimate. It also had its highest-ever backlog at the end of the quarter.","news_type":1},"isVote":1,"tweetType":1,"viewCount":585,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":893140854,"gmtCreate":1628249986678,"gmtModify":1631890259951,"author":{"id":"3587085224026177","authorId":"3587085224026177","name":"Jessyyyyy","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3587085224026177","authorIdStr":"3587085224026177"},"themes":[],"htmlText":"Yo","listText":"Yo","text":"Yo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/893140854","repostId":"1182741560","repostType":4,"isVote":1,"tweetType":1,"viewCount":832,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":890742044,"gmtCreate":1628137486088,"gmtModify":1631890259964,"author":{"id":"3587085224026177","authorId":"3587085224026177","name":"Jessyyyyy","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3587085224026177","authorIdStr":"3587085224026177"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/890742044","repostId":"1177429885","repostType":4,"isVote":1,"tweetType":1,"viewCount":499,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805783903,"gmtCreate":1627906832602,"gmtModify":1631890259977,"author":{"id":"3587085224026177","authorId":"3587085224026177","name":"Jessyyyyy","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3587085224026177","authorIdStr":"3587085224026177"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/805783903","repostId":"1161935562","repostType":4,"isVote":1,"tweetType":1,"viewCount":507,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802119437,"gmtCreate":1627731091729,"gmtModify":1631890259991,"author":{"id":"3587085224026177","authorId":"3587085224026177","name":"Jessyyyyy","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3587085224026177","authorIdStr":"3587085224026177"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/802119437","repostId":"1147779023","repostType":4,"repost":{"id":"1147779023","kind":"news","pubTimestamp":1627716124,"share":"https://www.laohu8.com/m/news/1147779023?lang=&edition=full","pubTime":"2021-07-31 15:22","market":"us","language":"en","title":"You can beat stock market indexes — this fund manager has, and this is how she and her team did it","url":"https://stock-news.laohu8.com/highlight/detail?id=1147779023","media":"MarketWatch","summary":"Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fu","content":"<blockquote>\n <b>Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.</b>\n</blockquote>\n<p>Investing is a tough game. That’s why so many mutual funds lag behind their indices.</p>\n<p>So when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.</p>\n<p>The American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth&nbsp;Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.</p>\n<p>The fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.</p>\n<p>Here are the five key takeaways, with examples of specific stocks.</p>\n<p><b>1. Own companies that can “land and expand” in big markets</b></p>\n<p>Even though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.</p>\n<p>Bill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.</p>\n<p>Bill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.</p>\n<p>“Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.</p>\n<p>Founder-run companies such as this one are worth considering because they often outperform.</p>\n<p><b>2. Seek out innovators</b></p>\n<p>Ram’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.</p>\n<p>Back in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.</p>\n<p>Boston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.</p>\n<p>“We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”</p>\n<p>This penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.</p>\n<p>A key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.</p>\n<p>They’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.</p>\n<p>But don’t count out this innovator yet.</p>\n<p>“We recently announced plans to develop new innovative beverages with&nbsp;Beam Suntory&nbsp;that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory&nbsp;sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”</p>\n<p><b>3. Look for companies that can create and dominate a niche</b></p>\n<p>For years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.</p>\n<p>This is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.</p>\n<p><b>4. Buy companies in the early stages of rapid growth</b></p>\n<p>One way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.</p>\n<p>Alnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.</p>\n<p>“This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”</p>\n<p><b>5. Hold stocks for the long term</b></p>\n<p>All of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.</p>","source":"lsy1603348471595","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>You can beat stock market indexes — this fund manager has, and this is how she and her team did it</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\">\nYou can beat stock market indexes — this fund manager has, and this is how she and her team did it\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-31 15:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/you-can-beat-stock-market-indexes-this-fund-manager-has-and-this-is-how-she-and-her-team-did-it-11627481445?mod=article_inline><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.\n\nInvesting is a tough game. That’s why so many mutual funds lag behind their indices.\nSo when ...</p>\n\n<a href=\"https://www.marketwatch.com/story/you-can-beat-stock-market-indexes-this-fund-manager-has-and-this-is-how-she-and-her-team-did-it-11627481445?mod=article_inline\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯","SPY":"标普500ETF",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/you-can-beat-stock-market-indexes-this-fund-manager-has-and-this-is-how-she-and-her-team-did-it-11627481445?mod=article_inline","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147779023","content_text":"Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.\n\nInvesting is a tough game. That’s why so many mutual funds lag behind their indices.\nSo when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.\nThe American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.\nThe fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.\nHere are the five key takeaways, with examples of specific stocks.\n1. Own companies that can “land and expand” in big markets\nEven though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.\nBill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.\nBill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.\n“Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.\nFounder-run companies such as this one are worth considering because they often outperform.\n2. Seek out innovators\nRam’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.\nBack in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.\nBoston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.\n“We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”\nThis penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.\nA key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.\nThey’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.\nBut don’t count out this innovator yet.\n“We recently announced plans to develop new innovative beverages with Beam Suntory that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”\n3. Look for companies that can create and dominate a niche\nFor years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.\nThis is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.\n4. Buy companies in the early stages of rapid growth\nOne way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.\nAlnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.\n“This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”\n5. Hold stocks for the long term\nAll of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.","news_type":1},"isVote":1,"tweetType":1,"viewCount":473,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"following","isTTM":false}