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特斯拉承诺至多回购百亿美元股票 有那么多现金吗？_我的网站

一 |     今年迄今为止，特斯拉股价已经累计下滑45%，周二报收于每股222.04美元。    

    A drone made of bamboo-based composite materials is seen in flight. Photo: official WeChat account of Long BambooA Chinese team has developed a drone using bamboo-based composite materials after making a breakthrough in a technique that allows bamboo to be flattened while preserving its tough outer layer. The drone has completed multiple test flights, China Central Television (CCTV) News reported.
Long Bamboo, a company based in East China's Fujian Province, developed the technique that preserves the bamboo's tough outer layer and allows different parts with different densities of the material to be used according to their properties, improving its overall performance.
In the past, the outer skin of bamboo was often treated as leftover material and eventually burned into low-value bamboo charcoal.
According to a company release in February, bamboo-based composites now make up more than 25 percent of the entire drone, while its fuselage skin is made entirely from the company's own high-performance bamboo composite material.
The bamboo-based material also offers a major cost advantage, costing only about one-quarter to one-tenth as much as aviation-grade carbon fiber. After the drone is retired, the material can naturally degrade, allowing it to effectively "come from nature and return to nature."
The team spent four years building data models, upgrading equipment and refining the material. The resulting drone has a wingspan of more than 2.5 meters but weighs only about 7 kilograms, and has already completed multiple test flights, according to CCTV News.
Bamboo was traditionally used mainly in products such as tableware and furniture. Now, however, the material is finding its way into a wider range of industrial applications. Bamboo fiber is being used in automobile interiors, while bamboo-based materials are also being explored as possible substitutes for plastics, glass fiber and carbon fiber in some applications. 
China has the world's largest bamboo resource base, with about 7.56 million hectares of bamboo forests nationwide. The country also ranks among the world leaders in bamboo resources, bamboo cultivation technologies and the development and utilization of bamboo materials, per CCTV News.
Global Times 
。如果其汽车像苹果iPhone那样占据行业主导地位，这个价格看起来很有吸引力。不过，第三季度业绩中出现的一个问题表明，特斯拉汽车需求可能会减弱。而且只有当特斯拉赶超苹果的梦想成为现实后，向股东返还现金才有意义。周三，特斯拉公布第三季度营收超过210亿美元，同比增长56%。即使在提价后，该公司向客户交付的汽车数量也增加了42%。马斯克表示，特斯拉可以保持至少每年50%的交付量增长率，直到2030年达到2000万辆销量。在上季度供应链驱动的放缓威胁到产量和交付增长之后，特斯拉似乎已重回正轨。

二 | 特斯拉17%的营业利润率超过了竞争对手福特和通用汽车，后两者的电动汽车业务利润更低。因此，特斯拉的汽车更像是苹果的iPhone。

三 | 市场研究机构Counterpoint Research的数据显示，苹果攫取了智能手机行业的绝大多数利润，而特斯拉也有望在电动汽车行业获得类似的成功。分析师们相信，就像苹果一样，特斯拉能够击败怀疑者，并保持盈利，至少接近2030年的目标。假设它能做到这些，每辆车的收入约为4.5万美元，而其核心业务的运营利润率保持在15%。将由此产生的营业收入与福特的市盈率相比较，再以10%的折扣率计算，特斯拉的股价应该是249美元，略高于周三的收盘价。从这个意义上说，特斯拉7000亿美元的估值是合理的，但也有个问题值得注意。特斯拉第三季度交付的汽车数量比当季生产的汽车少6%，按绝对值计算差距是有史以来最大的。该公司将此归咎于运输困境，然而令人担忧的是，这似乎也表明其需求增长乏力。2013年，苹果面临着利润和增长缩水的类似挑战。大卫·艾因霍恩（David Einhorn）和卡尔·伊坎（Carl Icahn）等投资者要求苹果利用现金储备回购低迷的股票，这一押注得到了回报。随着股价下跌，特斯拉现在也感受到同样的压力。但在2013年年初，苹果拥有1370亿美元的现金和有价证券，而特斯拉拥有210亿美元。同时，特斯拉也有巨大的现金需求，今年的资本支出相当于现金储备的34%左右，而苹果支出仅占6%。特斯拉报告称，该公司2022年第三季度营收超过214亿美元，较去年增长56%，但略低于分析师预期的219亿美元。特斯拉当季交付了343830辆汽车，同比增长42%，但比其生产的汽车数量低6%。

四 | 马斯克已经证明，在制造汽车方面，他拥有毋庸置疑的能力。不过，在派息方面，在现阶段把现金返还给股东依然存在很大风险。（小小）。

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Published on:10:30:56