金十图示：2025年07月18日（周五）热门中概股行情一览（美股盘中） 153.35亿市值 106.41亿市值 97.83亿市值 19.18 25.29 4.32 +0.84(+4.61%) +0.69(+2.83%) -0.08(-1.82%) 新东方 TALHAR 好未来 唯品会 唯品会 葡萄方 82.03亿市值 65.36亿市值 81.00亿市值 15.73 50.16 10.71 0.00(0.00%) +0.42(+2.76%) +0.09(+0.80%) 金山区 | 命富科技 SOU 名创优品 55.92亿市值 44.58亿市值 56.48亿市值 15.95 42.00 17.88 0.00(0.00%) +0.04(+0.20%) +1.10(+7.45%) 再鼎医药 雾芯科技 == zai- 38.03亿市值 33.26亿市值 27.60亿市值 2.27 34.24 28.08 +0.36(+1.30%) -1.77(-4.92%) -0.04(-1.95%) 陆金所控股 im 爱奇艺 LU com O Y 微博 19.45亿市值 25.78亿市值 24.01亿市值 10.30 2.77 2. ...

Market Capitalization Overview - New Oriental has a market capitalization of 14.65 billion [2] - TAL Education Group has a market capitalization of 10.35 billion [2] - Vipshop Holdings has a market capitalization of 8.20 billion [2] - Grape King has a market capitalization of 7.88 billion [2] - Qifu Technology has a market capitalization of 4.15 billion [2] Stock Performance - New Oriental's stock increased by 0.15 (+0.83%) [2] - TAL Education Group's stock increased by 0.33 (+1.36%) [2] - Vipshop Holdings' stock increased by 0.04 (+0.07%) [2] - Grape King's stock increased by 0.18 (+1.22%) [2] - Qifu Technology's stock increased by 0.54 (+3.78%) [2] Additional Companies - Zai Lab has a market capitalization of 2.83 billion, with a stock increase of 0.57 (+1.61%) [2] - iQIYI has a market capitalization of 1.83 billion, with a stock decrease of 0.05 (-0.49%) [2] - Weibo has a market capitalization of 2.40 billion, with a stock increase of 0.04 (+2.42%) [2] - Lexin has a market capitalization of 1.09 billion, with a stock increase of 0.10 (+1.02%) [2] Smaller Companies - Sohu has a market capitalization of 0.29 billion, with a stock decrease of 0.01 (-0.16%) [3] - Huami has a market capitalization of 0.18 billion, with a stock increase of 1.02 (+7.88%) [3] - Cheetah Mobile has a market capitalization of 0.16 billion, with a stock decrease of 0.37 (-3.71%) [3] - Aurora Mobile has a market capitalization of 0.02 billion, with a stock decrease of 0.28 (-2.29%) [3]

Market Capitalization Summary - New Oriental has a market capitalization of 15.067 billion [2] - TAL Education has a market capitalization of 9.000 billion [2] - Vipshop has a market capitalization of 8.787 billion [2] - Pinduoduo has a market capitalization of 7.726 billion [2] - Zai has a market capitalization of 6.389 billion [2] - BeiGene has a market capitalization of 8.516 billion [2] - Xpeng Motors has a market capitalization of 5.528 billion [2] - 36Kr has a market capitalization of 3.631 billion [2] - Weibo has a market capitalization of 2.791 billion [2] Stock Performance - New Oriental's stock decreased by 0.49 (-2.53%) [2] - TAL Education's stock decreased by 0.46 (-2.08%) [2] - Vipshop's stock increased by 0.19 (+5.15%) [2] - Pinduoduo's stock decreased by 0.85 (-1.60%) [2] - BeiGene's stock decreased by 0.01 (-0.03%) [2] - Xpeng Motors' stock decreased by 1.40 (-4.09%) [2] Additional Company Insights - Huya's stock increased by 0.19 (+5.03%) [3] - 36Kr's stock decreased by 0.14 (-1.64%) [3] - Weibo's stock decreased by 0.11 (-1.07%) [2] - Financial One's stock increased by 0.10 (+1.34%) [3] - Cheetah Mobile's stock decreased by 0.02 (-0.77%) [3]

Market Capitalization Overview - The market capitalizations of various companies are listed, with TAL Education Group at 14.308 billion, Vipshop at 9.496 billion, and others showing significant values [2]. - Notable market movements include a decrease of 0.03 (-0.17%) for TAL Education and an increase of 1.03 (+2.04%) for Vipshop [2]. Company Performance - Companies like Zai Lab and Qifu Technology show market capitalizations of 5.970 billion and 5.731 billion respectively, with Zai Lab experiencing a decrease of 0.20 (-1.08%) [2]. - The performance of other companies such as Huya and Sohu is also noted, with market capitalizations of 5.53 billion and 4.20 billion respectively [2]. Stock Price Changes - Stock price changes indicate a mixed performance, with some companies like Lexin increasing by 0.76 (+8.33%) while others like New Oxygen decreased by 0.07 (-2.12%) [3]. - The overall trend shows fluctuations in stock prices across various companies, reflecting market volatility [3].

Market Capitalization Overview - NIO has a market capitalization of 143.32 billion, while TAL Education has 94.60 billion [2] - Vipshop's market cap stands at 76.95 billion, with a stock price change of -0.04 (-0.30%) [2] - Zai Lab has a market cap of 58.43 billion, showing a price increase of +0.34 (+0.79%) [2] Stock Performance - NIO's stock price decreased by -0.13 (-0.72%), while TAL Education's increased by +1.60 (+7.66%) [2] - Vipshop's stock price decreased by -0.09 (-2.56%), whereas Zai Lab's increased by +0.47 (+2.61%) [2] - The stock price of iQIYI increased by +0.01 (+0.28%) with a market cap of 23.75 billion [2] Notable Changes - Sohu's market cap is 4.03 billion, with a stock price decrease of -0.37 (-2.69%) [4] - Tianjing Bio's stock price surged by +1.05 (+32.31%) despite a market cap of only 1.80 billion [4] - Huami's market cap is 4971.35 million, with a stock price increase of +0.48 (+16.11%) [4]

Market Capitalization Summary - TAL Education Group has a market capitalization of 14.284 billion [2] - Vipshop Holdings has a market capitalization of 8.942 billion [2] - 51Talk has a market capitalization of 7.770 billion [2] - New Oriental Education has a market capitalization of 6.304 billion [2] - 58.com has a market capitalization of 5.867 billion [2] Stock Performance - TAL Education Group's stock increased by 0.11 (+0.62%) [2] - Vipshop Holdings' stock decreased by 0.08 (-0.37%) [2] - 51Talk's stock increased by 0.12 (+0.22%) [2] - New Oriental Education's stock increased by 0.04 (+1.31%) [2] - 58.com’s stock increased by 0.28 (+0.63%) [2] Additional Company Insights - New Oriental Education's stock price is 18.29 [2] - Vipshop Holdings' stock price is 15.09 [2] - TAL Education Group's stock price is 3.48 [2] - 51Talk's stock price is 10.34 [2] - 58.com’s stock price is 12.00 [2]

Market Capitalization Overview - New Oriental has a market capitalization of 14.065 billion [2] - TAL Education (好未来) has a market capitalization of 8.413 billion [2] - Miniso (名创优品) has a market capitalization of 5.728 billion [2] - JD.com (京东) has a market capitalization of 66.01 billion [2] - iQIYI (爱奇艺) has a market capitalization of 2.439 billion [3] Stock Performance - New Oriental's stock decreased by 0.15 (-0.77%) [2] - TAL Education's stock decreased by 0.21 (-1.20%) [2] - Miniso's stock increased by 1.24 (+2.61%) [2] - iQIYI's stock decreased by 0.05 (-0.48%) [3] - JD.com's stock increased by 0.39 (+3.92%) [3] Company Comparisons - New Oriental's market cap is significantly higher than that of TAL Education, which is about 60% of New Oriental's value [2] - Miniso's market cap is approximately 67% of TAL Education's market cap [2] - iQIYI's market cap is lower than that of Miniso, indicating a weaker market position [3] Industry Insights - The overall market performance shows a mixed trend with some companies experiencing gains while others face declines [2][3] - The education sector, represented by New Oriental and TAL Education, shows volatility with both companies experiencing stock price fluctuations [2] - E-commerce and entertainment sectors, represented by Miniso and iQIYI, also reflect varying market sentiments [2][3]

Market Capitalization Overview - The market capitalization of TAL Education Group is 14.95 billion, while Vipshop Holdings has a market cap of 9.21 billion [2] - Other companies such as Miniso and Qifu Technology have market caps of 7.77 billion and 6.33 billion respectively [2] - The market cap of various companies shows a range from 5.22 million to 149.53 billion, indicating a diverse market landscape [2] Stock Performance - TAL Education Group's stock increased by 1.64 (+1.55%), while Vipshop's stock rose by 0.07 (+1.88%) [2] - Miniso's stock saw a significant increase of 1.24 (+6.99%), indicating strong market performance [2] - Companies like Huya and Yiren Digital experienced slight declines in their stock prices, with decreases of -0.03 (-0.81%) and -0.10 (-0.96%) respectively [2] Comparative Analysis - The comparison of market caps shows that TAL Education Group leads with 14.95 billion, followed by Vipshop and Miniso [2] - The performance of stocks varies significantly, with some companies like Miniso showing robust growth compared to others that faced declines [2] - The data indicates a competitive environment among these companies, with varying degrees of market success and stock performance [2]

Corporate Structure and Operations - 9F Inc. operates primarily through its PRC subsidiaries and VIEs, with no material operations of its own[11]. - The company has not made any capital contributions or loans to its offshore subsidiaries or PRC subsidiaries during the fiscal year ended December 31, 2023, with all amounts paid to subsidiaries being nil except for RMB 7.5 million received from VIEs[14][15]. - The company incurred payables of RMB 1.3 million for expenses and RMB 13.26 million for service fees to its PRC subsidiaries, but no payments were made[15]. - The company has ceased operations of its online lending information intermediary business and transferred investor rights to licensed asset management companies, with repayments expected within 36 months[30]. - The company operates under a variable interest entity structure, which may face regulatory challenges that could impact its ability to consolidate financial information[87]. - The company relies on contractual arrangements with its VIEs and their shareholders for a significant portion of its business operations, which may not provide effective operational control[91]. Financial Performance and Risks - The company incurred net losses of RMB233.7 million, RMB594.9 million, and RMB140.3 million (US$19.8 million) in 2021, 2022, and 2023, respectively[31]. - Net cash used in operating activities was RMB229.7 million in 2021, while net cash provided was RMB63.3 million and RMB62.5 million (US$8.8 million) in 2022 and 2023, respectively[31]. - The company may incur substantial costs as a result of being a public company, which could affect its ability to fund operating expenses[32]. - The company may face significant costs and time to procure additional permissions if regulations change, which could adversely affect its business operations and financial condition[21]. - The company faces uncertainties regarding compliance with PRC laws, which may require additional licenses or permits for its operations in China[37]. Regulatory Environment - The company is subject to extensive regulatory requirements in Hong Kong and Southeast Asia, and any non-compliance may affect its financial results[21]. - The company is closely monitoring regulatory developments in China, particularly regarding approvals from the CSRC and CAC for its previous and future offerings[23]. - The company must comply with the Confidentiality and Archives Rules, which mandate that all working papers produced in China must be stored locally and not transmitted outside without approval[23]. - The PRC Foreign Investment Law and its Implementation Regulations, effective January 1, 2020, introduce uncertainties regarding the classification of contractual arrangements as foreign investments[89]. - The PRC government has significant authority to regulate the operations of offshore holding companies, which may lead to uncertainties affecting the company's business and financial condition[96]. Taxation and Financial Obligations - Under PRC laws, dividends can only be paid out of accumulated after-tax profits, and at least 10% of profits must be set aside for statutory reserves until reaching 50% of registered capital[18]. - The maximum statutory tax rate applicable to hypothetical pre-tax earnings is 25%, with a withholding tax of 10% on dividends distributed to foreign holding companies[16]. - The company relies on dividends and distributions from its PRC subsidiaries for cash and financing needs, which may be limited by regulatory requirements[18]. - The tax residency status of the company remains uncertain, which could affect tax obligations and shareholder returns[124]. - The company must comply with various tax regulations to avoid sanctions from PRC tax authorities[125]. Market and Competitive Landscape - The company’s future financial performance depends on user retention, acquisition costs, and market competition, with no assurance of maintaining current fee rates[32]. - The competitive landscape is challenging, with competitors potentially having more resources and better adaptability to market changes, which could adversely affect market share[51]. - The company is navigating an evolving regulatory environment that may impose additional compliance requirements on its technology empowerment services[29]. - The company has been expanding its internet-based securities investment business, particularly in offshore securities investment services, to connect individual investors with Hong Kong and U.S. stock markets[34]. Cybersecurity and Data Protection - The company has not experienced any material breaches of cybersecurity measures and believes it has complied with relevant laws and regulations regarding cybersecurity and data protection in all material aspects[54]. - The company relies on a massive amount of user data to conduct its business, and any loss or compromise of this data due to cyber-attacks could adversely affect its operations[56]. - The company is evaluating the impact of cybersecurity regulations on its business practices and plans to strengthen its information management and privacy protection systems[207]. - The company must establish channels for reporting network product security vulnerabilities and retain logs for at least six months[210]. Shareholder Rights and Corporate Governance - The dual-class share structure limits the influence of Class A ordinary shareholders on corporate matters, potentially discouraging change of control transactions[132]. - The voting rights of ADS holders are restricted by the terms of the deposit agreement, limiting their ability to direct the voting of underlying shares[135]. - Holders of ADSs may not have direct voting rights and must provide instructions to the depositary for voting on underlying Class A ordinary shares[136]. - The company has adopted home country corporate governance practices that may afford less protection to shareholders compared to U.S. domestic issuers[151]. Strategic Initiatives and Future Outlook - The company plans to establish a one-stop online brokerage platform in Singapore, aiming to provide clients access to a variety of investment products globally[66]. - The company is developing new online wealth management products to retain and attract investors, but market acceptance remains uncertain[39]. - The company aims to expand its services and product offerings by applying for more licenses and acquiring licensed entities in Hong Kong and other regions[165]. - The company has implemented internal control procedures to ensure compliance with PRC laws and regulations regarding content displayed on its platforms, but cannot assure full compliance at all times[62].

在不久前一起网贷诉讼中，玖富出借人王某向玖富平台提起诉讼，请求判令玖富普惠偿还借款本息。经市、省各级法院民事判决败诉后，原告王某不服，向最高院申请再审，最高院判定王某与玖富普惠之间不存在民间借贷法律关系，平台不用承担还本付息的责任。该案再次提醒网贷出借人，只有起诉网贷真实借款人才有胜诉把握，平台没有法定还款责任。 该案中，最高院认为案件审理焦点在于，王某与玖富普惠之间是否为民间借贷法律关系；玖富普惠是否应向王某承担还本付息的责任。经审理各项证据后，最高院认定，王某和玖富普惠之间并无订立民间借贷合同的意思表示，客观上王某并无实际出借款项给玖富普惠，玖富普惠亦无实际出借款项给用款人。因此，玖富普惠平台是作为中介服务机构提供借款信息服务，其与王某之间属于中介合同关系。据上分析，王某主张其与玖富普惠之间成立民间借贷关系缺乏事实与法律依据，本院不予采纳。对于玖富普惠是否应向王某承担还本付息责任的问题，根据前述分析，玖富普惠与王某之间为中介合同关系，而非民间借贷关系，故玖富普惠依法无需承担偿还借款的责任。最高院裁定如下：驳回王某的再审申请。 因此，网贷出借人要主张债权，追究还款责任，就必须针对网贷实际 ...