第一部分：From Ada

1. WeFlat--WeChat 暗指腾讯不景气的一年

flat: commercially inactive; sluggish（贸易或商业）萧条的，停滞的，不景气的

2. bruising: extremely rough or painful; very difficult and unpleasant

3. shake up: a major set of changes in an organization or a system 重组

4. in time: before sth. happens; early enough

第一段：由“谁在杀死腾讯”一文引入腾讯第三次组织架构调整的真实原因

1. sth. is the crown jewel of 皇冠上的宝石

2. swap 指腾讯内部结构调整

3. ostensibly 表面上

4. sanitise(sanitize):

    ~language/news/content 

    a sanitized account of one’s life

5. self-serving: working or acting for your own advantage

Scoffing  WeChat users circulated the article just to highlight the switch. 微信用户转发只是嘲讽一下腾讯内部调整的真实原因。

第二段：腾讯股价下跌

1. touchy: oversensitive, delicate

    He's ~ about his appearance/past.

It has since shed $218bn, roughly equivalent in value to losing Boeing or Intel.

2. shed(vt.): to decrease/drop

3. fare: get along

    fare well/badly: to do sth. well or badly

4. even so: in spite of that; despite what has just been said

第二部分：From 史妍

1. the chief culprit

(1) 原文：A regulatory hold-up that was blocking it from charging for new video games was the chief culprit, it explained.

(2) 解释：= the main culprit 罪魁祸首、首要原因

(3) 造句：High labor costs are the chief/main culprit.

2. cash sth. in

(1) 原文：... but because of the monetisation freeze, Tencent cannot cash in.

(2) 解释：to exchange something such as an insurance policy for its value in money 把……兑换成现金

(3) 拓展：cash-in-'hand 用现金支付（结算）的

(4) 造句：I'd like to cash my traveler's check in.

3. tough sth. out

(1) 原文：Analysts now assume that Tencent will need to tough it out until the second half of 2019.

(2) 解释：to deal with a difficult situation by being determined, rather than leaving or changing your decision 渡过（难关），从（困境）中挺过来

(3) 造句：After breaking up she told herself to confident and tough it out.

4. slowdown in

(1) 原文：Capricious regulators may not be wholly to blame for the slowdown in online games.

(2) 解释：reduction in；减少、放缓

(3) 造句：When I burn the midnight oil, there is a sharp slowdown in learning efficiency.

5. eat into

(1) 原文：Users may simply be spending less time on Tencent's online entertainment, as other players eat into its market share.

(2) 解释：侵占

(3) 造句：Those programs running in the background eat into a lot of computer internal storage.

6. flagship

(1) 原文：For its flagship game, "Honour of Kings", ...

(2) 解释：the best and most important product 旗舰，通常用单数

(3) 造句：Pyramix, the digital audio workstation, is Merging's flagship product.

第三部分：From 蓬蓬豆

我赏析的这三段的内容主要是：

For skittish investors, all this has concentrated minds on whether the giant can maintain its momentum as it enters its third decade. Most agree that gaming will remain an important part of the company, but not its chief driver of revenue growth.

这里表达了对Tencent转型后的一个预测，在它奔三的阶段，尽管游戏仍然会是重要的收益来源，但不在成为最重要的来源。

1. 这篇文章在形容投资者和管理者时，用了两个类似的形容词

一个是capricious，反复无常的；善变的

一个是skittish，善变的，英英释义都有“change their beliefs or opinions often”的意思，其中在以前对“有权不可任性的”翻译中，就有人这样翻译过：

Those with power shall not be capricious.

2.maintain its momentum 保持它的势头,非常简洁明了，在晨读群Eric鼓励我们加油时会说keep up，这里maintain its momentum我觉得可以用在趋势预测类作文中，表示稳步增长。

3.remain an important part  remain，每日一词里面学习过的remain，但是如果我自己来写的话可能还是会写成is still an  important part，所以还是得注意活学活用。

Two concerns are particularly acute. Because its games have done so well, Tencent has been lackadaisical in monetising other parts of its business. It has rightly been nervous about expanding advertising within WeChat, though the service sees unrivalled Chinese mobile traffic of over 1bn monthly active users. Last year Tencent took about one-tenth of total third-party spending on digital ads in China. But Baidu, China’s leading search engine, took 19% and Alibaba, a giant in e-commerce, drew in almost a third.

这里引出了腾讯转型后面临的两个重大问题，第一是在其他产业上资助远远不够，甚至在投放广告方面都十分谨慎。

4.Two concerns are particularly acute.

有两个问题特别严重，这里可以积累一个引出问题的表达。替换最最直白的：There are two problems

5.lackadaisical /ˌlækə'dezɪkl/ 无精打采的

6.monetise other parts of its business   从其他业务中获利，替换了常用的 make profits

7.see unrivalled Chinese mobile traffic of 1bn monthly active users   unrivalled,看着很复杂，其实中间就是个rival，这样就好记了，意思同unparalleled

A second worry is that crimped profits will make it harder for the firm to keep investing heavily in areas outside its core business. Tencent has been backing promising startups in a race with Alibaba to find new users and sources of growth, battling indirectly in areas as varied as food delivery and online education. In some, such as cloud computing, the pair compete directly. Although Tencent’s investors are supportive of this approach, Jerry Liu of UBS, a bank, says the wider tech sell-off stems from a recognition that China’s maturing internet sector is becoming “a zero-sum game”: dominant platforms are having to invest more to stay ahead and so their margins are shrinking.

第二个问题就是利润缩水让腾讯在投资核心业务以外的产业上显得心有余而力不足。它和阿里或明或暗地在资助朝阳产业上开展了花样竞争。但是如果它要领先，它就得投资更多，；利润也会进一步缩水。

8.crimp 有两个意思，常见的是作及物动词，意为“把(织物或面团)压出褶”，第二个意思是“减少”。这里crimped作形容词，取第二个意思。

9.back promising startups  back这里作动词，意为“支持，资助”，算是熟词僻义

If you back a person or a course of action, you support them, for example by voting for them or giving them money

9.food delivery 食品配送

10.zero-sum 一方得益一方受损的；得失所系的，类似于 double-edged，我觉得这个词用于企业之间的博弈很贴切

11.margins are shrinking 利润缩水

个人感悟：对这种文章，虽然能够查了生词后大致了解一句话的意思，但是读下来还是云里雾里。不知道这些大头挣了钱以及为了挣了更多的钱想搞些什么……

个人盲点：

Although Tencent’s investors are supportive of this approach, Jerry Liu of UBS, a bank, says the wider tech sell-off stems from a recognition that China’s maturing internet sector is becoming “a zero-sum game”: dominant platforms are having to invest more to stay ahead and so their margins are shrinking.

这句话我理解句意是：尽管腾讯的投资者都支持腾讯的一些投资行为，但Jerry Liu 这个人又说了，这种大范围的技术抛售，来源于公众的一个认识：就是中国这些成熟了的互联网产业就像一局得益和损失同在的游戏，主要的平台必须投更多的钱，但是同时他们利益也就缩水了。

但是还是不大懂它要说什么……

第四部分：From 肉丸子

Tencent’s first internal-restructuring plan since 2012, announced in September, offers a clue to the company’s thinking. In it Tencent set out a long-termshiftaway from the consumer internet towards business services, marking “a new beginning for the company’s next 20 years”. It has set up a new unit for cloud and “smart” industries, combining all itson-demandsoftware and online services for firms that seek to go digital. Pony Ma, Tencent’s boss, said the “main battlefield” for mobile internet ismovingfrom consumers to companies.

第九段：腾讯2012年第一次计划进行内部改革，让我们得以一窥腾讯的想法。腾讯是想要从To C转成To B。

shift每日一词又出现啦！这里是名词。腾讯希望从To C转型成To B，就是用的shift这个词。段尾moving一词，跟shift同义。

on-demand= available when needed or wanted 只能用在名词前

eg：My cable company offerson-demandservice/movies.

Alibaba,born tobring businesses online through itsvirtual emporia, has a strongleadin thisarena. Last year it took 45% of China’s fledgling cloud-computing market, worth 69bn yuan ($10bn), compared with 10% for Tencent, according to IDC, a research firm. Still, Tencent doubled revenue in cloud services in the second quarter compared with the same period last year. Earnings from “other businesses” (ie, payments and cloud)overtookthose from its social networks for the first time.

第十段：跟去年同一时期相比，今年第二季度，腾讯在第三方支付和微云的收益，第一次超过了它的社交网络。当然，跟巨头阿里巴巴还是不能比的--腾讯10%，阿里巴巴45%。

born to do sth 生来就是做...的

If you wereborn to doit and truly dedicate yourself to the end result, anything, including walking on water, is entirely possible!  如果你是为此而生的，并且为了最终的结果真正地奉献自己，任何事情，包括水上行走，都是完全可能的。

virtual emporia线上大百货 用来描述阿里巴巴真是再合适不过了！

fledgling，刚会飞的幼鸟。这里用来形容新兴的云计算市场。

lead 这里是名词，领先地位

可以用的搭配：have a strong lead，take the lead， in the lead，hold/lose the lead

arena舞台，是个比较正式的用法，比如 the political arena 政治舞台

overtake= to become greater in number, amount or importance than sth else 大于，超过

这让我想到了之前每日一词学的outXX，可以替换成outrun

例：We mustn't let ourselves be overtaken by our competitors.

Mr Chow reckons that Alibaba and Tencent can both create large businesses in cloud computing since the market has lots of room to grow. And Tencent boasts powerful assets.WeChat is on over four in every five Chinese smartphones, so offers a massive market for firms. Last year it introduced a cloud-based platform that allows companies to offer services to users in WeChat via “mini programs” (ie, tiny apps). There are more than 1m mini programs, used by over 200m people every day.

第十一段：阿里巴巴和腾讯在云计算市场都有很大增长空间。而腾讯，拥有广泛的“群众基础”。去年开发了小程序，每天有超过2亿人使用。

boast 又是每日一词里的！拥有值得自豪的东西~

WeChat is on over four in every five Chinese smartphones.

我可能会这样写，80%Chinese smartphone users have downloaded Wechat。这样一对比，说五个人里面有四个人手机上都有“微信”，感觉更具体，更能感受人数之多。

For now, however, its revenue from such mini programs and other built-in services is still “close to zero”, notes David Dai of Sanford C. Bernstein, a research firm. Meanwhilerivalshave introduced their ownofferingsof mini programs. Among them is Bytedance, a newish giant that has young Chinese hooked on its flawlessly addictive video and news offerings, curated with artificial-intelligence technology. It is athornin Tencent’s side.

第十二段：就目前而言，这些小程序的收益甚微，与此同时还有对手的新产品层出不穷，比如“抖音”，“今日头条”。

rival 对手，前文有unrivalled，可以一起记。

newish= slightly new

hook 本意是 “钩子”。这里是动词，描述了中国年轻人对“抖音”和“今日头条”这样的app的痴迷，上瘾。

例：A lot of people seem to be hooked on sugary foods. 很多人似乎着迷于甜食。

 a newish giant that has young Chinese hooked on its flawlessly addictive video

第一段学了怎么介绍微信，这一段，又学到了怎么介绍抖音！这个介绍让我这样手机里面没有抖音的人，也想下载一个看看哈哈！

thorn 刺

a thorn in sb’s flesh/side眼中钉肉中刺，让我想到了a pain in the ass（美），英国人喜欢说a pain in the neck，不过这俩就不太正式啦。

第五部分：From July

In particular, the way in which Bytedance is capturing very young users, as well as young talent, makes Tencent look increasingly grizzled. To increase its appeal to youngsters, Tencent in April revived a short-video app it had shut down, called Weishi, and made it a near-copy of Bytedance’s wildly popular Douyin app.

内容总结一

这一段这要讲的是Tencent在应对严峻的市场环境的对策。第一句话讲了一下Tencent现在的处境，一个grizzled非常形象的讲出了他的无力感和落寞感。第二句话讲的是Tencent的对策，重新推出Weishi，让它成为一个跟抖音几乎一样的app。

知识点总结一

capture: to get something that previously belonged to one of your competitors.

capture在这里很形象的描述了这种商业竞争，之前背的capture一直是“捕获”的意思，在这里又get到了一个新用法。

造句：SF Express， a Chinese delivery services company， has captured 90% of the express market of Chinese.

grizzled：having grey or greyish hair （literally）

grizzled这个词本身是用来描述人的外貌多一些的，如：a grizzled old man. 在这里被用来描述Tencent，觉得很生动和形象，很有画面感和代入感。这种拟人的表达是自己不太掌握的用法，可以直接背下来。

wildly：extremely

wildly之前我所了解的意思是处于野生的或失控的状态，在这里学习到一个新用法，可以替换very or extremely. 常和popular 和 enthusiastic连用。

造句： Jay Chou’ s concerts in China are wildly popular.

重难点分析一

本段内容比较简单，没有太难的句子，但可以学习的写作方式的用一些拟人的手法，例如：the way in which Bytedance is capturing very young users, as well as young talent, makes Tencent look increasingly grizzled. 这句话中今日头条不仅抢占了用户市场，还吸引了人才，双重的压力，使的Tencent深感无力。

Pan Luan, a former tech journalist who published a widely-read essay in May contending that Tencent had “no dream”, says the giant looks lumbering at times because “its whole structure is ageing”. Young staff say they have few channels for promotion to decision-making positions, says Mr Pan, and few opportunities to build sparky products, as Tencent spends on stakes in other companies. A young Tencent employee who left to work for a newer tech firm says that pay at firms like Bytedance and Kuaishou, a short-video app (in which Tencent has a stake), is “in another band”, and that they feel more like foreign startups.

内容总结二

这一段感觉像是对上文“grizzled”这个地方的进一步描述。Tencent发展的步伐变慢，就是因为他在变老，感觉这一段的开头跟上一段是很呼应了。然后紧接着用两个年轻人的点再support了一下这一段的中心。一是年轻人没机会晋升到重要位置，也没机会去create像抖音一样的产品（因为腾讯把钱投在了一些其他公司，这个点在快手那又体现出来）；二是从Tencent离开的年轻人在更新的科技公司找到激情，完全不同Tencent。

知识点总结二

lumbering：awkward in movement

又是一个比较形象的词，来描述Tencent现在的处境跟上文grizzled很呼应。包括后面的ageing，让我会比较有画面感。

band：a range of numbers within a system .

之前认识band就是乐队的意思，今天扩充一个还有范围的意思。通常会指数目的范围.

在文中，说到工资完全和Tencent不一样，我感觉也体现了，newer tech companies重视年轻人，也反射了Tencent对待年轻人的态度。包括在上一段说到今日头条吸引了很多有才华的年轻人。

造句：In Beijing，there are many people within the 20,000-30,000 dollars income band.

重点难点分析二

Young staff say they have few channels for promotion to decision-making positions, says Mr Pan, and few opportunities to build sparky products, as Tencent spends on stakes in other companies.

对于我来说，这句话比较有特色的就是插入语的使用，因为这是这是我不会的表达方式。因为这一句说是人物A在转述人物B的话，重点还是B的说话内容，所以作者用了插入语引出转述者，但是插入部分又把主语放在动词后面，这个点有点不懂。感觉还原一下应该是here says Pan.

Tencent’s outsize influence in China’s online world is ballast that should steady it as it targets business customers. For sheer scale, WeChat seems likely to hold its own. It has given Tencent a powerful distribution channel for its own games, and has allowed it to stymie new rival products, including Douyin, by blocking them from its platform. But the giant is under pressure, and seems to know it. “We have to stay awake,” urged its president, Martin Lau, last month. Such introspection is necessary. Mr Chow says it was thought until this year that “Tencent could win every battle”. With more formidable competitors on the scene, the company will need to pick its fights more carefully.

内容总结三

第三段主要讲的是Tencent一个应对现状的态度。首先它需要守住自己的影响力和地位，不能轻易的被竞争对手给影响。同时也说了，像微信就助攻去给市场份额和-禁止竞争对手。但是Tencent自己还需时刻谨慎和自省，因为竞争对手也都越来越强大，有种稍有不慎，满盘皆输的感觉.

知识点总结三

ballast：（喻）something that gives stability or substance.

这个词在文章的使用又是一个比拟，但核心意思表达就是一个能起到平衡的作用的一个东西. 这也是我第一次学习这个词语.

target：to make something have an effect on a particular limited group or area.

译为“以...为目标”，之前学习这个词一直是名词形式，今天学习了动词形式。可以直接接目标对象。

造句：The advertisement is designed to target young children.

难重点总结三

Tencent’s outsize influence in China’s online world is ballast that should steady it as it targets business customers.

这句话最大的难点在于，一定要找清楚文中几处it的指代对象是谁，否者容易晕。我的意见是，第一处“it”，是指代的他巨大的影响力. 因为这个影响力是中国互联网界的奠基石，那么Tencent自己也是这其中一员，这个ballast也应该要用来问题他自己的影响力；第二处“it”， 是指的it 还是影响力，因为他们这些巨大的影响力也是他的客户为对象，所以整句话就想表达，“稳住”.