Beijing time on June 18 news, investors worried about slowing economic growth,U.S. stocks mixed today. The S&P 500 lost 5.8% for the week, its biggest weekly loss since March 2020, while the Dow and Nasdaq each lost about 5%. As of the close, the Dow fell 38.29 points, or 0.13%, to close at 29,888.78 points; the S&P 500 rose 8.07 points, or 0.22%, to close at 3,674.84 points; the Nasdaq rose 152.25 points, or 1.43%, to close at 10,798.35 point.
Major technology stocks in China concept stocks rebounded collectively,The new energy vehicle sector rose,Xiaopeng Motors rose more than 9%, Weilai rose more than 8%, and Li Auto rose more than 4%.
Major U.S. tech giants rose across the board:
▲ Major US technology giants
Major Chinese tech stocks rose across the board:
▲ China’s major technology stocks
China concept stock price
Other Chinese concept stocks that rose include:
▲ Other Chinese concept stocks that have risen
Companies that fell include:
▲ Other Chinese stocks that fell
▲ Baidu’s return on capital employed is only 3.4%, which is lower than the industry average
The formula for calculating the rate of return on capital employed is, EBIT ÷ (total assets – current debt), specifically for Baidu, it is 10 billion yuan ÷ (376 billion yuan – 68 billion yuan) = 0.034. As a result, Baidu’s ROIC is 3.4%, which is a fairly low ROIC and lower than the 5.1% average for the interactive media and services industry.
▲ Five years ago, Baidu’s return on capital employed was 7.2%
On the face of it, Baidu’s return on capital employed doesn’t inspire investor confidence. Over the past five years, Baidu’s return on capital employed has shrunk to 3.4% from 7.2% five years ago. However, its business appears to be growing at the moment, thanks to both capital and revenue growth. Businesses and shareholders will benefit in the long run if the increased capital provides additional returns. Baidu has reduced its debt-to-assets ratio to 18%, which is part of the reason for its lower return on capital employed, according to data.
▲ Jianpu’s Q1 revenue increased by 42.6% to 207.6 million yuan
Jianpu last night released its unaudited financial results for the first quarter ended March 31, 2022. According to the financial report, the total revenue of Jianpu in the first quarter increased by 42.6% to 207.6 million yuan from 145.6 million yuan in the same period of the previous year; the net loss expanded from 51 million yuan in the same period of the previous year to 53 million yuan, and the net loss rate increased from 35.3%. narrowed to 25.6%. As of March 31, 2022, Jianpu’s cash, cash equivalents, term deposits, restricted cash and short-term investments were valued at RMB 685.8 million, and liquidity was approximately RMB 372.3 million.
▲ Jianpu’s net loss expanded to 53 million yuan
In the first quarter, the number of credit card applications and domestic loan applications facilitated by Jianpu’s recommendation service increased by 28.6% to 900,000 and by 77.3% to approximately 3.9 million, respectively.
US/Foreign tech stocks
Other foreign tech stocks that rose included:
▲ Other foreign tech stocks that rose
Companies that fell include:
▲ Other foreign tech stocks fell
▲ Industry insiders: Metaverse platform will be riddled with scandals
Andy Yen, CEO of encrypted email client company Proton, predicts that the Meta metaverse platform will be riddled with scandal. Meta founder Mark Zuckerberg (Mark Zuckerberg) once said that the “physical Internet” will be the future of technology, but Andy Yan believes that Zuckerberg’s efforts will eventually fail, “people have realized that. How creepy is Google Glass, which Google introduced about 10 years ago.”
▲ Google Glass is creepy
Andy Yan has said that the “surveillance capitalism” business model of companies such as Meta and Google is unbearable in the real world, and they track users every day and record what they say and do. On the Internet, people are often unaware that they are being watched because surveillance is not “visible to the naked eye.” Scandals on the “brick and mortar Internet” may make more people aware of how their information is being watched online. Based on Facebook’s past performance, a scandal on the metaverse platform is almost certain.
▲ Amazon internal research report: 2024 will not recruit enough warehouse employees
An internal Amazon research report said it is concerned that it will not be hiring enough warehouse workers by 2024. “If current business models continue, Amazon’s U.S. fulfillment network will not be hiring enough employees in 2024,” the report’s authors wrote. Amazon declined to comment.
▲ In order to retain warehouse employees, Amazon has relaxed labor discipline
Amazon’s retail operations rely on hundreds of fulfillment centers around the world to fulfill orders. Recent earnings reports show that while overseas business is growing, the U.S. still accounts for about 70% of retail sales. To meet market demand and maintain its dominance, Amazon will have to address the challenges it faces with warehouse staff shortages. In areas like Phoenix, Amazon is already under pressure to relax its labor discipline in an effort to reduce staff turnover because it can’t hire enough warehouse workers.
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