In addition to hydropower investment, Wang Qinian is interested in a lot of targets, such as Suning Electric Appliances during the transformation. Pen, fun, and www.biquge.info

In the past, Suning Electric was the public lover in the A-share market, the white horse stock of the white horse stocks. Fund managers flaunt their past performance, usually mentioning that they have invested in large companies such as Moutai and Suning in the past. As a result, many investors are very fond of entrusting him to take care of their money.

It can be seen how powerful Suning's influence was at its peak!

The issue price of Suning Electric's IPO is only 16.33 yuan per share, and its stock price is equivalent to more than 1,300 yuan at the peak of 2010, and the return rate to investors is nearly 100 times after 6 years of listing.

This rate of return, even if compared with Tencent, is not much different.

However, Suning's performance in 2013 has been declining for several years, and investors obviously do not have much patience for Suning's transformation, so there has been a decline in performance and stock price.

Suning's share price fell from more than 21 yuan in January 2010 (more than 1,300 yuan at the compound price) to more than 4 yuan in 2013.

Even taking into account that in April 2010, Suning had 10 shares and 5 shares, the lowest price of 4.56 yuan should actually be equivalent to 6.84 yuan in January 2010. But even so, Suning's stock price fell by nearly 70% compared to 2010!

Once the king of growth stocks, Prince Charming in the A-share market was soon seen as a broken house and abandoned by investors as successive quarters of sluggish performance and stock price performance.

In addition, the media and institutions that have written countless praises in the past have also begun to turn to cynicism. There are also a small number of Suning fans, who are ridiculed by the market.

After all, Suning is in transition!

Historically. Many companies have transformed, and the success of the transformation is naturally promising, and more companies that fail to transform are tantamount to accelerating suicide. The old main business is withering day by day. New business investments have continued to lose money and have not improved. Naturally, they died faster.

Therefore, investors often look forward to the transition and are afraid of it!

In fact, Suning was at its peak in 2010, and the gap between Tencent, Baidu, and Ali was not very large. However, after the peak in 2010, Suning's model went wrong - the rise of e-commerce channels challenged the advantages of offline channels.

Originally. Suning's model is equivalent to offline Taobao, and many counters in electrical appliance chain stores are rented to electrical appliance brand manufacturers, so that electrical appliance manufacturers can put their own goods on the shelves of Suning's stores, and Suning can earn a lot of rent from electrical appliance manufacturers.

This model is essentially the "charter public" and "second landlord" model. Since there are some stores that Suning buys by himself, the counter is divided into pieces for rent, which is obviously more profitable than renting out the entire store. Since the second landlord has a store that Suning did not buy, but a long-term rented store, the rented store was divided into pieces of counters to attract investment, and the manufacturers paid expensive rent to put their goods on the shelves.

Besides. For the goods sold through Suning's channels, the consumer payment is paid to Suning's account. Suning can postpone for a few months and then pay the manufacturer. Past. A large amount of the payment of brand manufacturers is used as interest-free cash flow, which Suning uses to invest in a lot of commercial real estate and expand stores and warehousing.

The rise in the price of real estate has also caused Suning to use cash flow to invest in real estate even if retail does not create value, just to beat the time difference, and the yield obtained from the real estate price increase can be amazing.

Before 2010. Suning is a real profiteering, making money to earn hand cramps. Moreover, the growth rate is also amazing! In the years of 04 ~ 10 years. Tencent and Baidu in the same period are also faster than Suning!

This model is very awesome in history, and Gome and Suning in the 90s all relied on this model to rise. In the past, this model not only failed the domestic department store retail companies, but also the giants who entered the Chinese market overseas were also unadaptable, and the profitability and growth rate could not be compared with Suning and Gome.

Alibaba's Taobao and Tmall models are essentially the Internet version of Suning's model. Taobao builds a platform, and then, the merchant buys the goods by himself, the merchant is responsible for selling the goods, and the merchant pays the express logistics cost by himself. Then, it was finally closed, and I had to accept the platform's rake. You can escape the country's taxes, but you can't escape the "taxes" of Taobao's commission.

Many manufacturers in the e-commerce industry who purchase their own goods are prone to losing money. After all, e-commerce can't make a profit, the profit is the difference between the purchase and the shipment, and some e-commerce companies directly sell goods at a price that is impossible to make money, which must be a loss.

The cleverness of the Taobao model is that it attracts countless merchants to sell their goods. Regardless of profit or loss, Taobao can share the profits. The most risk is borne by the shopkeepers of e-commerce, and Taobao only has to take a cut to collect money.

The reason why Suning and Gome's offline model has been challenged is essentially because the threshold of the offline model is very high. The settled in are some large enterprises with a certain scale, and the variety of goods displayed at the offline counter must be limited, and the variety cannot be as rich as the online website.

In the online mode, the lowest threshold is naturally Taobao, which does not have much capital, and even does not have stores and warehouses, and you can also register an e-commerce account to sell things. A large number of sellers are naturally cannon fodder who are difficult to make money, but under the crowd tactics, the number of merchants has gathered into a massive total transaction volume on the platform.

Of course, Taobao in this time and space is not the boss of the market, and at present, the first camp of the domestic e-commerce industry is competing with each other.

The Little Prince e-commerce and Ali Taobao compete for power, and companies like JD.com are alone in the second camp. Suning Tesco, Vipshop, and Yihaodian are in the third camp.

Of course, Suning entered e-commerce relatively late, and only began to resolve to transform e-commerce in 09 years, and launched Suning Tesco in 2010. is not only later than the Little Prince, Taobao and other websites, but even a few years later than JD.com.

Suning's problem is actually not the Internet gene, but because it is late!

Entering the market a few years later and wanting to gain market share. Naturally, there are many difficulties!

Of course, Suning still has huge advantages, such as: There are more than 1,600 offline flagship store resources, and other small stores, express logistics and other systems. The scale is also quite large.

In essence, Suning's overall online and offline scale is not lost to JD.com. Even, Suning's offline stores and warehousing resources are not much inferior to the little prince.

However, Suning is not very successful for the time being, mainly due to the problem of online and offline cooperation, due to the beginning. Suning is online to online, offline to offline, even if we continue to work hard to hope that offline and online can be synergistic, but due to lack of experience, so, it is very difficult.

If Suning can be pulled into the camp of the little prince and his friends, it can produce a win-win situation. Suning lacks traffic, lacks users, and there is no shortage of friends and little princes.

What Suning does not lack is channels, these offline channel resources. If it is used properly, it can help the little prince and his friends make up for the weaknesses and gaps in some areas.

……

Since June 2013, the small partner Financial Holding and Little Prince E-commerce Group. Joined forces to start buying shares of Suning Electric.

Among them, the small partner spent 1.15 billion yuan to buy 200 million shares of Suning Electric, and at the same time, Little Prince E-commerce spent 683 million yuan to buy 120 million shares.

Suning Electric's current total share capital is 7.38 billion shares, and the little partner and the little prince have formed a concerted action, and together, they have increased their holdings of nearly 5% of Suning Electric's shares.

In the past, Baidu wanted to take a stake in Suning.com to fill Baidu's shortcomings in e-commerce, but. Zhang Jindong, the head of Suning, suggested that Baidu go directly to the market to buy shares of Suning Electric. Because, Suning Tesco is a subsidiary of Suning Electric. Buying shares of Suning Electric is equivalent to indirectly holding Suning Tesco.

Baidu did not buy Suning's shares later, so it naturally lost the possibility of strategic cooperation with Suning.

Wang Qinian doesn't mind the meager profits of Suning Electric Company during the transition period. In essence, he values Suning's resources, as long as Suning is willing to carry out strategic cooperation with small partners, then the synergies generated are far more than the benefits obtained by holding stocks.

Soon after, Wang Qinian contacted Zhang Jindong, chairman of Suning, by phone and said: "Hello Zhang Dong, I am Wang Qinian!" ”

"What's the matter?" Although Zhang Jindong said that he welcomed all kinds of capital to buy Suning's shares in the market, he was a little uneasy when he really encountered Wang Qinian's large-scale purchase.

"Show kindness!" Wang Qinian said with a smile on the phone, "We don't want to control Suning, we are not interested in participating in Suning's management." We are more interested in cooperating with Suning for a win-win cooperation! ”

"Oh?" Zhang Jindong asked, "What kind of cooperation?" ”

"The cooperation between e-commerce and retail channels, such as mobile phones, TVs and various products of small partners, can be sold on the shelves of Suning channels. Suning Tesco can also operate a flagship store on the Little Prince e-commerce website, well, not only the flagship store, we can even give Suning Tesco a special channel to import a lot of traffic to Suning Tesco flagship store! Wang Qinian explained, "In terms of payment cooperation, Suning Tesco canceled its own payment tool, and instead used our small partner wallet as the main payment tool!" ”

"Impossible, according to such a cooperation law, wouldn't Suning become a vassal of the little prince's e-commerce and small partners?" Zhang Jindong thought about it for a short time and refused.

Zhang Jindong, a well-known figure in the domestic business community, is naturally a little arrogant. The boss of the traditional retail industry, many electronic and electrical brands in the past, have to tie up Suning.

How could Suning have lowered his posture and become the little brother of another platform?!

"Well, count me too impatient!" Wang Qinian thought for a moment and said, "If you don't agree to such an in-depth cooperation from the beginning, then let's have some simple cooperation!" For example,Our X super TV,At present, it is also an entrance to the Internet,Just like PCs and mobile phones,You can access the Internet。 Today, millions of users use our TVs and set-top boxes to access the Internet, not only to watch videos and TV channels, but also to log in to the e-commerce app on the TV to make purchases. Has Suning considered launching a TV version of the app? ”

"That's fine!" Zhang Jindong thought to himself that just making an app on a TV platform was actually beneficial to Suning.

Although,The user scale of the little partner's X super TV is not much,But since it was launched in November last year。 In 2012, the number of users of X Super TV and X Super Box exceeded one million.

In the first half of 2013, X super TV sold 1.5 million units in half a year, shaking the domestic TV market. Some users who have not changed their TVs have also bought x super box to experience, and the sales of x super box in the first half of the year exceeded 5 million.

According to this trend, the XOS system is likely to become the mainstream operating system of TVs in the era of smart TVs. Even domestic TVs still have more than 300 million units in stock. If these users are all replaced with XOS system smart TV,Then,Network TV will definitely become both PC、Mobile phone、Tablet and other terminals,One of the most important Internet channels。

Even if he doesn't say a word of admiration, Zhang Jindong gradually understands that Suning's pattern is far inferior to that of his partners. Not to mention that it is not as good as a small partner, even if it is the little prince e-commerce, it is also a step ahead of Suning.

And Wang Qinian's purchase of Suning Electric's shares is actually a gesture, expressing optimism about Suning's resources and prospects. If not, who will buy it?

To tell the truth, Suning's resources are extremely rich, and resources such as stores, warehousing, logistics, and brands are all very valuable assets. It's just that Suning's huge system has not yet been truly Internetized!

In fact, this Internet-based experience can be gradually learned and transformed over time.

Even though Suning has lost its hegemony at the top of the stable Internet, it makes good use of the resources at hand and goes hand in hand with JD.com. It should not be difficult to become the fourth largest e-commerce giant in China and the top ten in the world's e-commerce industry.

In addition, Suning has some more awesome advantages, such as the sales service of home appliances and electronic products, which is actually very professional. As far as selling air conditioners and buying TVs is concerned, it is not the end of the sale, but after the sale, it is necessary to have strong service capabilities to help customers come to install and repair.

Covering the whole country of service and maintenance network, this ability is not available even to many home appliance brand manufacturers. There are only Suning and Gome, the two traditional home appliance giants, and the offline resources and human resources they have at their disposal are difficult for traditional Internet manufacturers to catch up with all at once.

As far as the air conditioner is difficult to install, it doesn't seem to be very technical. But in fact, a certain level of professionalism is still required. For example, installing air conditioning in high-rise buildings is not just for anyone. Cultivating a hard-working installer is actually not as simple as recruiting some highly educated management talents. (To be continued.) )