证 券 2024 年 06 月 24 日 研 究 5 月销量同比大幅上升，问界品牌在中国高端新 报 势力的地位进一步稳固 告 —赛力斯（601127.SH）公司动态研究报告 买入(维持) 投资要点 分析师：林子健 S1050523090001 ▌ 5 月乘用车销量同比大幅上升 linzj@cfsc.com.cn 6 月 2 日，赛力斯发布 5 月产、销快报：公司 5 月总销量 联系人：谢孟津 S1050123110012 3.86 万辆，同比上升 130.8%，1-5 月公司总销量 18.66 万 xiemj@cfsc.com.cn 辆，同比上升154.2%。 基本数据 赛力斯同比大幅上升： 5 月公司新能源汽车销售 3.41 万 2024-06-24 辆，同比上升 298.6%，其中赛力斯汽车销售 3.22 万辆，同 当前股价（元） 95.23 比上升 489.1%，其他车型销售 0.45 万辆，同比下滑 45.0%。 总市值（亿元） 1438 1-5 月公司新能源汽车销售 15.68 万辆，同比上升 342.4%， 总股本（百万股） 1510 其中赛力斯汽车销售 14.11 万辆，同比上升 602.5%， ...

那大家很诧异说为什么我一个互联网传媒的首席会出现在消费的这样一个专场里面去讲大家有没有想过这个问题其实在我看来为什么就是本质上来讲消费品其实分成三种啊等会我们会去讲 对先过一下目录先过一下目录啊这个首先第一个消费品及媒介这点我觉得非常重要就是这是我为什么跨界来这场讲的这个很重要一个理由就是大家买一样东西买的不只是这个东西的使用价值而买的是把它发到社交网络以后所产生的正外不幸那这个事情很关键那么其次呢是每一件属性能否进行积累和增值这个里面就是很关键预期差就在这里了 如果说一个产品它在社交网络上的裂变和增长速度非常快那它有可能就能够产生超预期的收益第三个符号仪式的社交这个的话我也会展开讲 因为社交网络往往是什么货客成本最低的网络也往往是这个有社交压力最强这个网络那在这个里面一旦有一些商品有一些符号有一些产品形成了比较强大的社交货币的时候那它的往往这个壁垒会非常强比如说林纳贝尔的表情包那最后再讲一个就是我们去寻找哪些具有不对称性的这一系列的这个研究和投资要素去寻找一些差异化的观点啊因为 我就只讲差异化的部分啊好那好那首先我这个跨界的理由我们先开始讲一讲这个消费品的核心竞争力啊在我看来就三点啊当然这个是基于我互联网传 ...

Summary of the Conference Call Industry Overview - The report provides a comprehensive overview of the printer industry, including definitions and historical development [1] Industry Chain Analysis - An analysis of the printer industry's supply chain is included, detailing the various components and stakeholders involved [1] Company Analysis - The report features an analysis of key companies within the printer industry, focusing on their market positions and competitive strategies [1]

各位投资者晚上好我是东吴商社首席分析师吴金草那么欢迎参加我们今天的这个电话会那么今天呢我们是对于我们日前发布的这个重要的一个深度报告烟酒茶里面为什么只有 查没有这个强品牌这样的一个深度报告做一个解读那么实际上的就是在这个问题呢我其实思考了非常久啊就是说这个为什么有些品类能够形成一些强品牌而有些品类呢其实没有形成强品牌他似乎有很大的需求也有很大的一个空间但是他的品牌一直没有形成包括这个在17年到这个22年之间 不断的有这个就是关于淘品牌跟抖品牌的这样的一些讨论就是说通过这个线上某些这个看起来做的渠道比如说直播或者说一些其他的渠道那么形成品牌的一些过程那么我们看到了一个非常显著的现象就是说烟酒茶里面这三个所谓的大品类这个三大嗜好品逢年过节都作为这个就是 重要的一个采购的一个消耗品但是烟和酒我们都看到了强的品牌但茶没有那么从这么一个讨论中我们希望得到的一个结论是怎样的品类具有怎样属性的品类能够形成聚集强的有溢价的品牌 而目前有一些的品牌他们是通过怎样的方式形成的也会做一些回顾和分析那么我们希望找到一些我们现在看到的还在不断堆积品牌力不断形成品牌力的品牌比如说我们会重点讲的名创优品这样的一些品牌等等的那么今天我们会针 ...

Financial Data and Key Metrics Changes - The automotive industry is expected to witness significant growth from June to September due to the release of multiple new products, following previously delayed consumer demand [1][2] - The annual demand baseline for the automotive sector shows strong resilience and stability, with a normal market demand stabilizing around 400,000 units [2][10] Business Line Data and Key Metrics Changes - The report highlights that the recent policy of replacing old vehicles has led to a market exploration period, indicating a positive future impact on automotive sales [2][3] - The introduction of several heavyweight new energy vehicle models, such as the BYD Qin L and Song L, is expected to enhance overall industry demand [3][10] Market Data and Key Metrics Changes - The automotive market has experienced a decline in sales due to a price war and consumer hesitation from late February to April, but a recovery is anticipated with the acceleration of new product iterations starting in May [3][10] - The overall market demand remains stable despite various influencing factors, including tax policies and price wars, maintaining a moderate growth trend [2][10] Company Strategy and Development Direction - The report emphasizes the importance of technological innovation and overall sales improvement in the new energy vehicle market, moving away from reliance on single model growth [4][12] - Companies are encouraged to focus on those with a strong lineup of new products during the upcoming release period from June to September [1][10] Management's Comments on Operating Environment and Future Outlook - Management expresses optimism about the market outlook, drawing parallels to previous years when new product launches followed periods of delayed demand [10][12] - The automotive industry's growth is expected to remain resilient, with annual growth typically fluctuating within a range of plus or minus 3 percentage points [10][13] Other Important Information - The report indicates that the export performance of traditional automakers has improved, contributing positively to their fundamentals [12] Q&A Session Summary Question: Why is the annual demand baseline for the automotive market considered resilient? - The speaker noted that the expected release of multiple new models from June to September, including significant models from BYD and others, is likely to boost market demand, especially addressing supply shortages in the electric vehicle sector [5][10] Question: Why were the automotive sales data for Q1 and Q2 this year relatively low? - The speaker explained that the first five months of the year saw low weekly data averages of about 370,000 to 380,000 units due to repeated pandemic challenges and a price war, which led to consumer hesitation [13] Question: What are the key new models expected to launch from June to September? - The speaker listed several key new models, including the BYD Qin series, Song L, and others, which are anticipated to significantly impact market demand [5][10] Question: How does the company view the growth potential in the new energy vehicle sector? - The speaker highlighted the immense growth potential in the new energy vehicle sector, emphasizing that companies should leverage platform technology and iterative advancements to enhance overall sales [12][14]

Employer Brand Index 2024 ...

本次电话会议仅服务于国泰捐赠券正式签约客户会议音频及文字记录的内容仅供国泰捐赠券客户内部学习使用不得外发并且必须经国泰捐赠券研究所审核后方可留存国泰捐赠券未授权任何媒体转发此次电话会议相关内容未经允许和授权 转载转发均属侵权国泰均安证券将保留追究其法律责任的权利国泰均安证券不承担因转载转发引起的任何损失及责任市场有风险投资需谨慎提请广大投资者谨慎做出投资决策 大家好欢迎参加户外行业集中度提升关注品牌端投资机会目前所有参会者均处于静音状态在主讲演讲结束后将留有提问时间下面有请主持人讲话谢谢各位领导大家好我是国家治安的反腐分析师曹冬青那么最近的话我们团队是推出了户外运动行业的期待深度报告昨天和前天的话我们是分别给各位领导汇报了第一篇和第二篇 主要是分析了最近几年国内户外运动行业这些的原因还有进行了中日的一个户外运动行业的对比今天的话给大家汇报的是我们户外运动系列报告的最后一篇主要是分析了目前国内户外运动行业的竞争格局还有可能存在的一些投资机会今天的汇报主要是分为三大部分首先的话就是我们去分析了一下整个户外运动行业目前的一个竞争格局 其次的话就是把现在户外运动行业的参与者分为了两大类分别是专业户外品牌还有泛户外品牌 ...

Investment Rating - The report does not explicitly provide an overall investment rating for the industry but highlights the brand value and strength of various asset management and sovereign wealth fund brands, indicating a positive outlook for strong brands in the sector [5][18]. Core Insights - The report emphasizes the significant contribution of brand strength to the business value of asset managers and sovereign wealth funds, suggesting that there is further value to be unlocked by enhancing brand positioning beyond operational scale [5][6]. - BlackRock is identified as the world's most valuable asset management brand with a brand value of USD 7.0 billion, while JP Morgan Asset Management is recognized as the strongest brand with a Brand Strength Index (BSI) score of 87.4 [18][22]. - The report notes a trend of traditional asset managers entering private credit markets and sovereign wealth funds adopting characteristics of venture capital and hedge funds, indicating a blurring of lines between different types of financial entities [6][7]. Summary by Sections Brand Value Ranking - BlackRock leads the ranking with a brand value of USD 7.0 billion, followed by JP Morgan Asset Management, Vanguard (USD 6.0 billion), and Blackstone (USD 4.3 billion) [20][39]. - The top ten strongest asset management brands include JP Morgan Asset Management, BlackRock, and Vanguard, with BSI scores reflecting their market presence and performance [22][34]. Sovereign Wealth Fund Insights - The Public Investment Fund (PIF) is highlighted as the most valuable sovereign wealth fund brand with a value of USD 1.1 billion, ranking second in strength with a BSI of 62.1 [29][30]. - The Abu Dhabi Investment Authority (ADIA) is noted as the strongest sovereign wealth fund brand with a BSI of 63.9, showcasing the competitive landscape among sovereign wealth funds [30][39]. Brand Strength Analysis - The report outlines the importance of brand strength in driving business returns, customer loyalty, and competitive advantage, with strong brands able to command higher prices and attract top talent [8][9]. - Key factors influencing brand strength include presence, performance, professionalism, and purpose, which are assessed through a structured methodology [46][50]. Market Trends - The report indicates a growing importance of alternative managers and sovereign wealth funds in the asset management landscape, with notable brands like Blackstone and KKR making significant impacts [6][18]. - The analysis suggests that brands with active investment strategies tend to have a higher proportion of brand value relative to assets under management (AuM), highlighting the strategic importance of branding in investment management [6][7].

海外仓模式引领，品牌跨境大势所趋0609_导读 海外仓 国泰君安证券 产业趋势 时代背景 产业逻辑 竞争要素 亚马逊 FBA 三方仓 价格优势 投资决策 产 业链一体化 竞争优势 活跃客户数 并购 租赁 协同效应 信息流 C端客户 数据驱动 章节速览 ● 05:09 中国耐用消费品的发展趋势 ● 07:22 亚马逊海外仓的发展模式 ● 15:26 大建云仓的经营优势 问答回顾 发言人 答：海外仓在跨境电商领域中具有显著的发展潜力和重要作用。首先，整体来看，随着跨境电 商物流市场规模的高速增长，海外仓与直邮共同驱动行业发展，而海外仓的市场份额逐年上升且增速超 过直邮，表现出明显的领先地位。其次，从行业结构角度看，2022年to C市场的跨境电商物流规模 中，海外仓占据了超过一半的份额，并且第三方仓的崛起预示着电商经营分化的产业趋势。此外，以美 国为代表的海外市场中，由于其制造业外迁至其他国家和地区，使得海外仓特别是中国制造能力强的国 家（如中国）成为承接订单的重要基地。亚马逊作为海外仓市场的领头羊，凭借早期布局和FBA（ Fulfillment by Amazon）模式的优势，成功地在国内外积累了大量品牌和卖家 ...

仅服务于国泰捐赠券正式签约客户会议音频及文字记录的内容仅供国泰捐赠券客户内部学习使用不得外发并且必须经国泰捐赠券研究所审核后方可留存国泰捐赠券未授权任何媒体转发此次电话会议相关内容未经允许和授权 转载转发均属侵权国泰均安证券将保留追究其法律责任的权利国泰均安证券不承担因转载转发引起的任何损失及责任市场有风险投资需谨慎提请广大投资者谨慎做出投资决策 大家好 欢迎参加国泰军安电话会议目前所有参会者均处于静音状态下面有请主持人讲话 谢谢好呀 各位投资者大家下午好实在不好意思因为刚刚线路的原因导致稍微晚了一点开始然后今天我是国泰军安轻工坊的首席分析师刘嘉芬然后我们之前其实 一直觉得整个跨境电商里面的海外仓其实这个模式其实也是一个比较严重的行业而且未来从产业趋势来讲其实我们觉得也是一个方形未来的一个状态所以我们其实之前也在第一时间做了一个深度的研究然后今天也借这样一个时间节点来对我们的深度研究在线上向各位投资者做一下汇报 首先第一个就是我们大概分了四个部分,一个是供需,包括整个的产业趋势,第二是时代背景,然后整个的第三个是产业逻辑,以及竞争的核心的竞争要素和胜负手。 首先第一个向各位投资者汇报的肯定是说为什么海外仓非常 ...