"Shareholders and employees of the new venture communications company, as you know, I came today to celebrate the listing of the new venture communications company on the Shenzhen Stock Exchange, and it has become a giant listed company on the Shenzhen Stock Exchange.

Well, the A-share market with a market value of 30 billion in its infancy is indeed a giant. However, we have to look at the large companies in the world, which are hundreds of billions of dollars or even hundreds of billions of dollars.

Relatively speaking, our market capitalization is really not a giant. Just a ...... Small and medium-sized enterprises, both in the many companies and business units of our new entrepreneurship department. Or internationally, real status. A company with a market value of 30 billion is really not a big business.

After the listing, I heard people talk about market capitalization, stock price. 30 billion market capitalization. 60 yuan a share, well, everyone's sense of financial investment is rising. In the office, there are more books such as "Securities Analysis", "K-line Theory", "Smart Investor", etc., and almost everyone is reading these books hard, which makes me have the illusion that I am not walking into a technology company, but into the office of a securities company.

I was very disappointed by this.

If you look at the annualized returns of financial companies around the world, Warren Buffett and Berkshire have an average annual return of more than 20% on investment. However, there are many excellent companies that have achieved better net profit growth than Berkshire for decades. For example, our new start-up communication company, in the past few years, the annual profit has increased tenfold or several times! Now the large-scale and explosive growth has passed, but according to the current industry growth rate and the 50% growth rate of enterprise orders, there should be no problem. These...... It is not brought by financial investment, but the return of your down-to-earth business, grabbing orders, and serving customers!

Don't you think it's important to abandon a good business with an annualized growth of more than 50% and study a financial industry where the best companies in the industry can only maintain long-term annualized returns of more than 20%?

The new venture communication company was founded in 85, but around 83 years, the team devoted two years to the research and development of the first 500-door program-controlled switch in China, which solved the drawbacks of domestic program-controlled switches relying on imports. Subsequently, relying on the cost advantage, we program-controlled switch market, quickly achieved domestic monopoly, originally all relied on imports, and now, there is no market for imported products in China. After all, our price is one-fifth of theirs, the performance is not worse than theirs, and the after-sales service is better than theirs! No, like many industries, they don't even give the opportunity to use our products at all. Even if you use it, if something goes wrong, it will be blacklisted, and you will never have to ......"

"It is also the tolerance of domestic users that makes us gain room for growth. In addition, a large number of user feedback in the process of use of the situation, also help us grow, at least, our user manual, will not be revised, so that users know, what are the common problems, how to solve. ”

"After the success of the program-controlled switch, we then began to do more new services such as broadband network, cable TV network, wireless communication base station and so on. Subsequently, according to market demand, terminals, telephones, debugging demodulators, routers, mobile phones, etc. were made...... It can be said that our success has always relied on technology, continuous technical research, finding and solving problems. R&D products, sales of products, etc...... If we continue on this road, we will become stronger and stronger! Because the more problems we discover and solve, the stronger our combat effectiveness will be. The market share will also be higher and higher. In general, our core competitiveness should be a problem-solving company. As long as we are better at solving problems, the higher the barriers will be built, and the harder it will be for our peers to challenge us. We can establish a monopoly advantage in the industry for a long time, eat the most profitable part, and obtain an annualized rate of return that far exceeds that of the financial industry. ”

"However, now that the company is listed, it has a large market capitalization! With a market value of 30 billion yuan, more than 20% of the shares are held by the founding team and employees. Many managers and employees have talked about the rise and fall of the company's stock recently, when they became multimillionaires, hundreds of millions of net worth, and so on. However, during this period of time, the speed of the company's problem solving has been significantly slower. Originally, we sent someone over 24 hours a phone call, but now, there is no one on a phone call for 72 hours, where are the people going......?

"So, I'm a little disappointed in you! The founding team of the new venture newsletter is irrelevant? Do you just want to wait until the stock restriction period has passed, and then start selling money to retire and enjoy life? If you have this kind of thought, I advise you to retire early and let people who have the ability and ambition to do business go to work...... I'm sorry, my words are a bit heavy, but that's roughly what it means, 30 billion market value is a fart! Listing is an egg! Is this just our goal? Listing is just a scenery on our journey, not the end. At present, we are not even the most mainstream telecommunications companies in the world, and the top five telecommunications companies in the world are not on our list, and the first is still far away! Looking at those goals, you don't want to fight, you don't want to achieve them? What is the number one in China? We want to be the number one in the world! To engage in an industry, we must try our best to do our best, and I think that the goal of being the first in the world is at least to be achieved, and after that, we can talk about enjoyment and relaxation, and now we ...... You are still far from the goal, far from the time when the swords and guns are put into storage and the horses are put in Nanshan!"

"If you lose your sharpness now, you're a little proud. I think that in ten years, let alone the number one in the world. Even if it is the first place in the domestic market now, it may not be able to keep it. Because, if you don't work hard, your peers will be more desperate than you!"

After Lin Qi criticized mercilessly, Wang Dayou, the current general manager of the new venture communication company, said ashamedly: "Mr. Lin, I didn't take the lead! I often talk about the stock price and market value, and the employees who hold shares below have learned from it." ”

"The company's market value, stock price, and information disclosure should normally be done by the secretary of the board of directors. There is a special position of secretary of the board of directors, who answers questions from the market and investors and discloses business conditions. For other members of the management, there is no need to do the work of secretary of the board of directors. Lin Qi said.

At present, domestic securities disclosure is not as mature as that of later generations, and later listed companies can not only respond to phone calls, emails and other inquiries. There are also special personnel who are stationed on the information disclosure website designated by the CSRC to answer investors' questions. In Lin Qi's era, there was basically a question that must be answered, even if it was a little bit of a panacea and the answer was not asked, it was necessary to go through a procedure and respond to the questions on every page.

At this stage, information disclosure is not very sound, and it is mainly disclosed in designated newspapers. However, the new start-up communication company has also built an official website. In addition to providing contact information and product information catalogs for communicating with customers, the official website also includes the operation and information disclosure status of listed companies.

To a certain extent, although Lin Qi's tone is a little heavier, the current team of the company is only excited for a while, and they are too concerned about the listing.

After Lin Qi beats, the company's management and employees' minds gradually shifted to R&D, production, sales, after-sales and other main businesses.