看看孟山都的业绩表现就会发现,这场贴标签运动其实是多么不值一提。这家公司上周三报告称,它第三财季营收下降了近6%,但股价却飙升超过了5%。它还宣布,今后两年将回购100亿美元的股票。这家公司尤其表示,主要受益于旗下种业和转基因业务,它的盈利到2019年将至少增加一倍。
None of this is particularly surprising, except perhaps to some of the meme-spreaders. And it’s all happening despite more-serious resistance to GMOs across big swaths of the globe.
这些情况其实不足为奇,可能只会让一些“迷因”传播者大跌眼镜。而这个业绩实际上是在全球大范围反对转基因作物的背景下取得的。
Monsanto MON -0.43% makes money almost no matter what. If its corn business sinks, as it has this year, it makes up for some of the losses by selling more soybean seeds (many farmers tend to switch between the crops depending on market conditions). If rivals gain market share, it often makes money from the technology licenses it sells to, for example, DuPont DD -0.18% , its chief competitor (and, as a licensee, one of its biggest customers). When its patents expire, it sells farmers on the newer seed varieties it is constantly pushing through its pipeline. The company is hedged to the hilt: seemingly, any loss is also a potential gain.
不管市场风云如何变幻,孟山都总能赚钱。如果玉米业务像今年一样有所缩减,它就会通过扩大大豆种子(大多数农户都会根据市场情况在这两种作物中挑一种)的销量来弥补这一损失。如果对手的市场份额增加,它就会常常通过把技术许可卖给杜邦公司(DuPont)这样的主要对手(作为技术受让方,也是它最大客户之一)来赚钱。如果它的专利到期了,它又会把它一直在渠道中力推的新种子卖给农户。这家公司能最大限度地对冲风险:任何损失似乎都能带来收益。
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