本文节选自国盛证券"周期共振下的周期选择"电话会议嘉宾发言： 国盛研究所副所长，钢铁首席笃慧 近期股票市场迎来了久违的大涨，社会大量资金蜂拥进入股票市场，上涨的速度和幅度令人瞠目结舌。很多人认为经 济是股票市场的晴雨表，实际并不是这样。全社会资本过剩才是资本市场繁荣的必要条件。国家工业化的起飞阶段， 往往经济高速增长，往往并不是虚拟资产的表现期，比如2003年中国进入工业化起飞期，经济大牛市股票大熊市，这 一期间实体经济回报率太高，资金脱虚向实。而真正股票市场的大发展时期往往是工业化进入成熟期，经济增速下台 阶，比如日本70年代中后期之后经济增速下降到5%左右，股票市场迎来长期牛市。 全社会资本过剩我们可以看到目前的居民储蓄已经达到150万亿左右。很多人认为是过去几年居民储蓄上升是因为收 入下降引起的预防性储蓄，情况并不是这样。因为中国居民储蓄增加值的中枢上升是从2018年开始的。如果我们仔细 去拆解中国居民增加值的来源，主要是三方面构成的，最大的一块是来自于2018年之后的每年一季度，一季度我们知 道是中国人发年终奖分红的时候，过去几年除了新能源半导体出口链这些科技密集型行业企业还在做一些资本开支， 很多传 ...

( 日本MA) Al for Africa: Use cases delivering impact July 2024 Ezoomic 3454 3584 GSMA The GSMA is a global organisation unifying the mobile ecosystem to discover, develop and deliver innovation foundational to positive business environments and societal change. Our vision is to unlock the full power of connectivity so that people, industry, and society thrive. Representing mobile operators and organisations across the mobile ecosystem and adjacent industries challenges, the GSMA delivers for its members acros ...

Financial Data and Key Metrics Changes - Tesla's Cybertruck production has reached a record of 1,300 units per week, with a target of 2,500 units per week by the end of 2024 [8] - The company is expected to see a 200-300% year-over-year growth in energy storage deployments in 2024 [10] Business Line Data and Key Metrics Changes - Tesla produced the most electric vehicles (EVs) globally in 2023 [9] - The 4680 battery project has made good progress, with every Cybertruck equipped with 4680 batteries [10] Market Data and Key Metrics Changes - Tesla's Supercharger network continues to grow, with plans to invest $500 million this year to expand the network [10] - The demand for vehicles is primarily constrained by cost, with the potential for Model Y sales to reach 5 million units annually if priced below $20,000 [13] Company Strategy and Development Direction - Tesla is focusing on building a battery recycling ecosystem to support the production of thousands of Model Y units [16] - The company is also exploring the potential of humanoid robots, with plans to produce Optimus at scale, potentially generating significant profits [4][5] Management's Comments on Operating Environment and Future Outlook - Elon Musk highlighted the rapid advancements in Full Self-Driving (FSD) technology and the potential for a Tesla-owned autonomous taxi network [3] - The company is committed to sustainable manufacturing and has made significant progress in reducing carbon emissions [20] Other Important Information - Tesla's mission is to accelerate the world's transition to sustainable energy, with customers avoiding over 20 million metric tons of CO2 emissions in 2023 [22] - The redesigned Model 3 has been praised, and Model Y is expected to remain the best-selling vehicle in 2024 [24] Q&A Session Summary Question: Regarding Musk's 2018 CEO performance award - The analysis from ARK Invest is worth reviewing, as their estimates are considered the most accurate [12] Question: Is Tesla still developing HVAC systems? - No specific answer provided in the documents [14] Question: About the design of the autonomous taxi without a steering wheel - The vehicle will be designed to minimize the risk of injury to pedestrians, with remote control capabilities for intervention if necessary [15] Question: When will Cybertruck be available internationally? - Cybertruck is designed for North America, with potential for certification in other markets next year, but complexities may delay this [30] Question: Regarding lithium refining and expansion beyond Texas - There are sufficient lithium resources if geopolitical conflicts do not arise [39]

The Mobile Economy Eurasia 2024 The GSMA is a global organisation unifying the mobile ecosystem to discover, develop and deliver innovation foundational to positive business environments and societal change. Our vision is to unlock the full power of connectivity so that people, industry and society thrive. Representing mobile operators and organisations across the mobile ecosystem and adjacent industries, the GSMA delivers for its members across three broad pillars: Connectivity for Good, Industry Services ...