Reborn Entrepreneurial Giant

In order to help Xiao Ma persuade Zhang Yimou to join, Qu Li asked Big Dog to buy the film and television adaptation rights of "Snowpiercer", and also gave the idea of ​​"Human Purge Project", which is a low-cost and high-grossing movie that is only released overseas. , can help pony earn a little money.

Of course, small money in Qu Li's eyes is not necessarily for the film and television company. He remembered that the cost of this series of movies was less than 10 million US dollars, and the box office was around 100 million US dollars. How many days is this the revenue of Glory?

Qu Li was busy with Glory, Wu Shihong began to accept media interviews, and this year's annual meeting of entrepreneurs and leaders was about to start again. Qu Li was invited to participate, but he refused, not because he held grudges, but because he thought it was meaningless.

Some Wall Street financial capital came to Beijin to discuss financing with Mr. Qu Lilei. Looking at the incredible data, it is difficult to give a suitable valuation.

The profit margin of Honor mobile phones is very high. The average price is about 200 US dollars, and the selling price is about 500 US dollars. Even if the channel fee of 120 US dollars is deducted for each phone, there is still a profit of 180 US dollars. cost, and a net profit of about $80.

Honor's products this year include three series of mobile phones, one tablet computer, and two notebook computers.

The sales volume of the iPhone in 2010 was about 40 million, and the Honor brand influence is not weak. Even if the sales volume of the G3 is not as good as that of the iPhone 4, the combined magic and mate series will definitely exceed the iPhone. There is also the G4 just released, and the sales volume of the Honor mobile phone in 2010 is roughly calculated. Should be able to exceed 50 million units.

The sales volume of tablet computer iPad was 15 million units in 2010. Because the operating system of Honor GPad is Android, there is a natural gap with iPad, and the annual sales volume is 10 million units. The two series of notebook computers count as 1.5 million units, which is not too bad, and the profit is not high.

That is to say, in 2010, Honor mobile phones and tablets should be able to sell about 60 million units, with a profit of US$80 per unit, and a net profit of US$4.8 billion. If the negative effects caused by various investments and industrial support are removed, the net profit will never be less than US$3 billion.

According to the valuation of the consumer electronics industry with a price-to-earnings ratio of 10, Honor has at least US$30 billion. Forbes greatly underestimated Honor. However, it is impossible for these investment institutions to invest in Glory at a valuation of 30 billion.

"Honor's risk is controllable now, and there is no problem with Apple's patent lawsuit..."

"Our development strategy is quite clear. The smartphone business is at the core, and the vast majority of investments revolve around improving our competitive advantage. Our investment in pure electric vehicles accounts for less than 10% of our net profit..."

"The smartphone market still has great growth potential, and our profitability can be raised to a relatively high level at any time..."

Lei Jun introduced the development of Honor this year on stage, which greatly affected the confidence of some investors. Apple's 2010 fiscal year's net profit reached 14 billion US dollars, and its market value was about 250 billion US dollars.

"Glory should be listed directly, no one can afford such a large investment." One of them spoke, although it was a bit exaggerated, but it also made sense. The subprime mortgage crisis has just passed, and the capital market has become active again, but who dares to make a fortune? Just spend tens of billions of dollars.

The sales of Honor’s 1.5 million computers are about 800 million. Including tablet phones, it is estimated that there will be about US$31 billion in sales revenue in 2010. According to the net profit margin of about 21.5% in Apple’s financial report, Honor’s net profit level can be adjusted to 66. 100 million US dollars, 18 times the price-earnings ratio, the valuation can reach 120 billion US dollars.

We must know that in the eyes of consumers and investors at this time, Honor faintly surpasses Apple, with greater vitality and imagination, and it is possible to defeat Apple in the patent war, making it even more banned globally.

These people don't know how much profit Apple's Appstore can bring, they don't know the excellence of IOS, and they don't know that the cost of Honor mobile phones will increase year by year due to patent expenses. Samsung Electronics can be said to be one of the best consumer electronics companies in the world. Its subsequent market value did not seem to exceed US$500 billion, because a large part of the value-added profits of smartphones was shared by Google Android. Samsung can be replaced, but Apple has no brand that can be replaced.

Although these capitals are optimistic about Glory, no one dares to take the risk of investing in Glory with a valuation of more than 100 billion US dollars.

Qu Li didn't dare to act recklessly at this time, this random struggle could be a gap of tens of billions of dollars, I really dare not take it lightly.

At the same time, Double Eleven is coming, Taobao has launched a promotion, and Jumei will start promotional activities at the same time, Zangda, Yixun, Yihaodian, Fanke Eslite, etc. have such plans, and the entire network is promoting double Singles' Day, shopping carnival, Taobao is more willing to spend money on publicity than Jumei.

This is caused by the different business models of the two parties. Taobao needs traffic, and Jumei needs efficiency. In theory, the service scale of Taobao platform model has no upper limit, while Jumei’s self-operated model must have an upper limit, which can manage hundreds of thousands. Employees' enterprises can be called excellent in terms of organizational structure and management capabilities.

Qu Li didn't go to Yangcheng, but contacted them by phone and email. He didn't care about the sales promotion. Da Dongzi and Xu Lei were the ones who dared to fight tough battles.

With the current scale of Ali Taobao, it is impossible to choose one of the two, so most merchants can carry out promotions on the two websites at the same time. The difference is that Taobao has individual sellers.

In fact, there are many differences. Jumeijuhuasuan emphasizes service, which includes logistics and after-sales, as well as the evaluation system, that is, Jingdou of Goudong. Limit withdrawals or even kick out of the platform.

Although Jumei attaches great importance to products and services, and Juhuasuan attaches great importance to price and service, they both emphasize service, but the most important thing is always price. No matter how good your service is, if the price difference of the same product is more than 100 yuan, most buyers will Choose the cheaper one. Because domestic labor costs are low, services are "worthless".

But low price is not a panacea in sales promotion, or the same low price, Taobao has almost no advantage over Jumei, so Taobao's promotion is to make consumers lose their sensitivity to price. Various complicated promotion methods, first rise The price is re-promoted, there are coupons for activities, and you can receive red envelopes. After the last toss, there are indeed discounts, but a lot of time is wasted.

Jumei’s two domestic platforms have diverged in promotions. Jumei takes the high-end and high-quality route, giving price-sensitive users the opportunity to spend time to get discounts and buy products that they would not normally buy. Juhuasuan learns from Wal-Mart and Pinxixi to make "everyday low prices". In this way, Taobao's sales promotion illusion can be broken, and consumers can return to rational shopping.

The more you study Pinxixi, the more you can discover their excellence. Of course, this does not mean that Pinxixi is a "good company". There is nothing wrong with low prices, but they have low prices but no quality. Only Goudong's B2C model can achieve high quality and low price with its own brand through efficient supply chain management.

Jumei’s long-term strategic planning is not wrong, but the entire e-commerce industry is exploding. Taobao’s combat effectiveness is subverting at this time. Know.

On Double Eleven in 2010, more than 1,000 sellers participated in the event on the Taobao platform, and the transaction volume exceeded 2 billion. Jumei has less than 500 sellers participating in the event, plus less than 1,000 Juhuasuans, and the transaction volume of third-party sellers is less than 1 billion, far inferior to Taobao.