0628 City Building Plan

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Alibaba Group's emphasis on Chenxing home delivery is not a matter of one or two days, 8848 learned from Amazon in the United States, Zhai Yan, He Yuntao and others have become more and more profound with the growth of 8848, especially in today's China, to attract more consumers to accept the way of online consumption, there are only two fundamental means:

One payment, two delivery, and as 8848 gradually becomes the Internet giant of China's online retail, the most basic "integrity" condition of the original "three mountains" will no longer be a problem - at least not the problem of 8848, which is precisely the origin of the two major C2C websites Taobao and Tmall.

Alipay has grown with the growth of 8848, and many subsidiaries of Chenxing Group and Alibaba Group have endorsed Alipay's credit, and the problem of "payment" has gradually ceased to be a heart disease in front of consumers.

Song Chen once believed that the three mountains of payment, integrity, and distribution that e-commerce urgently needed to solve were only distribution, that is, logistics in a broad sense.

Why is logistics important?

Because logistics determines whether the efficiency of supply chain resource allocation can be maximized; determines whether the product can be delivered to the user quickly...... Logistics for e-commerce, on the one hand, is the guarantee of user experience, on the other hand, it is the premise of supply chain efficiency improvement! ”

The essence of B2C e-commerce is retail, the retail industry is a small profit but quick turnover industry, when the market to a certain scale, consumers are increasingly mature and rely on online shopping, will inevitably shift from low-level price, channel competition to a higher level of brand, technology competition, e-commerce ultimately mainly rely on the difference between purchase and sale and value-added services to obtain profits.

This is a great deal of time to determine that e-commerce must continue to strengthen, optimize the supply chain and even the management and integration of the industrial chain, in order to realize the transformation of logistics from a cost center to a profit center, specifically to the Chenxing Group in 2oo1, Chenxing Home Express is still a heavy asset that needs to continue to invest heavily and cannot get profit returns for a long time, and it is a cost center.

If it was 99 years, at that time, Song Chen took advantage of the capital market's craze for technology stocks to list 8848, Ctrip, and Chenxing Network successively, and promoted the mortgage of some assets of Chenxing Group to Chinese commercial banks at inflated valuations. In exchange for more than $1 billion in credit lines -- how much of this is made from government resources -- is certainly no secret to those who are interested.

Song Chen, who knew that the NASDAQ crisis was not far away, did not hesitate to use this power, and at that time, Song Chen and his Chenxing Group were valued at hundreds of billions of dollars, so he effortlessly obtained the first batch of up to 600 million yuan from major banks, which greatly improved the cash flow of Chenxing Group.

With huge cash assets, Song Chen, who is full of confidence, will naturally not be stupidly put in the bank, otherwise he will not be able to bear the huge interest generated every year. With these funds, on the one hand, he instructed the three major listed companies 8848, Ctrip.com, and Chenxing Network to maintain cash flow and wait for the NASDAQ crisis to come; On the other hand, he began to frequently acquire and invest in high-quality Internet assets in China, such as 163.neT, Banyan Shuxia, Zhongguancun Online, Huayi Brothers, and Guangguang Media. Breaking into China's film and television media industry planted the seeds for the future of video, literature, games, music, etc.

At the same time, he quietly increased the capital of Alibaba Group, and the first step was to put his equity in Chenxing Home Express into Alibaba Group, and the senior management of Chenxing Home Express accepted the position of Alibaba Group, and sent sufficient cash ammunition for Alibaba Group's acquisition of Chenxing Home Express.

In fact, this is the Jingdong Mall-style exhibition route, that is, standardized logistics. Build a competitive fortress in the vertical field, integrate the supply chain, gradually occupy the high position of the smile curve industrial chain, vigorously squeeze and offset the natural and backward advantages of traditional retail, and gradually realize the ideal state required by e-commerce logistics: in a limited time, at a limited cost, the limited goods will be delivered to the limited location. We will make every effort to meet the unlimited service needs of users and maximize the value of user experience.

This is Song Chen's long-term strategy for Alibaba Group, and the core executives of Alibaba Group are well aware of this, and they also resolutely and efficiently implement Song Chen's plan: this has Alibaba Group's non-core business "Pufan clothing design + cash" in exchange for equity from Golden Leather Shoes and Kang's Clothing, and there is also a scene where Zhai Yan entrusted Zhang Ruoxi to convey the acquisition intention to Xia Lianzhong, and many shareholders Chen Jian, Shi Dongsheng, Cai Ding, and even Yang De's father Yang Jinchang and Zhang Ruoxi's father Zhang Hua also agreed to Alibaba's request. Cash out with very good returns.

Of course. It's absolutely inevitable to complain about Alibaba Group's ugly appearance!

As the chairman of Shangcheng Group and Wang Zuoyong, who is also the chairman of Chenxing Home Express, his current expression is definitely not good-looking. At this moment, he unabashedly expressed his complaints in front of Zhai Yan, Cai Chongxin, and Wang Xiaoxue.

"We all said yes. The chairman of Chenxing House Express gave it to me, and I came forward to take the land to open commercial real estate and logistics real estate, and now you have changed what it means, unload the mill and kill the donkey! ”

Zhai Yan smiled and said, "Wang Dong's words are serious, the two families of Song and Wang are in the same breath, we don't dare to treat you as a donkey!" Otherwise, our family wouldn't be overturned, and Xiaoxue wouldn't sit next to me properly! ”

Wang Xiaoxue, who was sitting on the side, smiled but did not speak, her facial features were bright and pretty, her medium length was scattered on the knife-like fragrant shoulders, and her temperament was charming; She was wearing only a red knitted skirt and white stockings to modify her flawless long legs, like a sexy and bewitching girl.

Wang Zuoyong looked at the bright and mature Zhai Yan with a smile, who would have thought that the woman in front of her, who was only twenty-five or sixteen years old, not only had a three-year-old son at a young age, but also took charge of the huge and important technology group of China Chenxing Group.

"I know the purpose of Alibaba Group's want Chenxing home delivery! The reason why we invested in the logistics industry at the beginning was that on the one hand, Song Chen promised us a far-reaching and attractive prospect, and on the other hand, as you said, the two families of Song and Wang belong to the relationship of in-law, and I should of course support it as a father-in-law! Of course, I will not deny the interests of the Wang family, this is a matter of mutual benefit! ”

Wang Zuoyong paused, and said lightly: "In the past two years, I have circled a lot of land for Chenxing Home Express in major cities across the country, I have not seen the windfall profits of land value-added, Chenxing Home Express has entered the road of fast development, our Shangcheng Group has the patience to wait for the huge income brought by the skyrocketing land assets, but has never been wary of you Alibaba Group can't wait to jump out and ask for a cake!" ”

Tsai Chongxin smiled slightly. said: "Wang Dong, you have filtered, not to mention that our Alibaba Group will return your original investment of 100 million yuan at a three-fold premium, about Chenxing Home Express delivery of more than 40,000 acres of land, as long as Shangcheng Group has demand, we will definitely cooperate with Wang Dong in a preferential way, and we will never let you suffer!" In addition, it has been a year since the commercial office building project near Liujiazui in Pudong was under construction. Among them, the cooperation with the former shareholders will continue, and Wang Dong does not have to worry about us changing our minds halfway. ”

It's one thing to suffer or not to suffer, the initiative is in the hands of others, how can it be comfortable in your own hands? Wang Zuoyong muttered in his heart, and then asked tentatively: "Alibaba Group's wholly-owned acquisition of Chenxing Home Express has a lot of costs, not to mention that Chenxing Home Express Company also undertakes hundreds of millions of yuan in loans. Just the cash acquisition will require about 1.4 billion 500 million! This price is not small, do you Alibaba Group have to swallow Chenxing home delivery in this way? ”

"The importance of Chenxing home delivery to Alibaba Group, even if I don't say it, Uncle Wang, you know it!" Zhai Yan explained, "Indeed, it is indeed a bit cramped in the eyes of many people to buy back Chenxing Home Express in just two years. But that's why we're determined! On the one hand, this means that Chenxing Home Express will have a big move next, on the other hand, it is also for the future Alibaba Group as a whole to go public, the burden of early acquisition is much smaller than that of late acquisition, we will not stop at China's logistics companies, this is also a necessary step to cooperate with the group's upcoming international operations! ”

Operating internationally? Is Alibaba Group planning to enter the European and American logistics industry through capital mergers and acquisitions? This is really a big ambition, but it is also in line with Song Chen's consistent layout.

Wang Zuo's heart moved. Looking at Wang Xiaoxue again, she smiled and nodded, so he muttered: "That Chenxing Mansion is in a hurry to send the position of the chairman......"

Cai Chongxin said very calmly: "Wang Dong is willing to work more for those who are capable, and our group naturally welcomes it." But correspondingly, our idea for the real estate sector is to spin off the company and specialize in industrial real estate such as commercial real estate or logistics centers! ”

"Commercial and industrial properties?" Wang Zuoyong hesitated.

"Yes!" Cai Chongxin nodded seriously, "This is also the request of our chairman, he doesn't want us to get too involved in residential real estate!" The Chenxing community opened in cooperation with the Great Song Group will not be the norm in the future! ”

Wang Zuoyong muttered: "Since you want to sell the equity of Chenxing Home Express. Then I have no intention of continuing to serve as the chairman, but in order to ensure our partnership with Chenxing Home Express, can we let our company join the management of the real estate company? ”

"No need!" Zhai Yan shook her head, just when Wang Zuoyong was disappointed. She smiled lightly, "Wang Dong doesn't have to regret it!" I may go to the United States in the next few months, and Xiaoxue may take over as chairman of Alibaba Group. ”

Wang Zuoyong was slightly startled, and then looked at his daughter's smiling appearance, he breathed a sigh of relief and said with a smile: "Miss Zhai is smart and reasonable, admire!" In that case, the acquisition of Chenxing Home Express is so decided! ”

Wang Xiaoxuejiao, who had not spoken, said with a smile: "Dad, don't be too happy, because we also have one thing we want you to make up your mind right now!" ”

His eyebrows twitched, and Wang Zuoyong pretended to be surprised and asked: "Losing Chenxing Home Express is more of a gain than a loss for me, what else do I have to make up my mind?" ”

Wang Xiaoxue pondered for a while, and then looked at Zhai Yan and Cai Chongxin, only to see the two nodding with a smile, she said: "Although Ah Chen doesn't want us to be deeply involved in real estate, he has another purpose for commercial real estate, and he hopes that Chenxing Group can have more in-depth cooperation with Shangcheng Group!" ”

Wang Zuoyong asked quietly: "More in-depth cooperation?" What kind of in-depth cooperation? ”

Cai Chongxin took out a cowhide file bag from his briefcase and handed it to Wang Zuoyong, who glanced at him and reached out to take it.

Cai Chongxin said solemnly: "This is the chairman of the board of directors last year after the investment in Huayi Brothers and Guangguang Media, using his leisure time to outline the commercial real estate project, Wang Dong is a celebrity in the real estate industry in Jiangnan Province, he would like to ask you to correct!" ”

Huayi Brothers? Light Media?

Wang Zuoyong glanced at Cai Chongxin suspiciously, and then looked at the two daughters of Zhai Yan and Wang Xiaoxue, who were smiling and silent, and they were not ambiguous, they opened it and took a look, and then he gasped. He looked intently as he muttered with blazing eyes, "For a person who doesn't want to get involved in real estate." He's so ambitious! ”

Zhai Yan said lightly: "Thanks to you, in the past two or three years, Chenxing Mansion Express has circled a lot of land across the country, and these lands need to be found for investment and export, otherwise the government will definitely have a whisper, and maybe the land will be taken back, then it won't be beautiful!" However, in this way, it is impossible to use all of these lands for industrial storage; On the other hand. Since we don't do residential real estate, we can only think of ways to do commercial real estate! Ah Chen means that we can cooperate with Chenxing Group, we will take a stake in Shangcheng Group, and bear part of the funds of the plan! ”

Wang Zuoyong looked at the plan very carefully and did not answer immediately. Through the proposal. Wang Zuoyong saw a lot of information: first, this is really Song Chen's handiwork, which is large-scale and takes into account the upstream and downstream industrial chains; Second, the plan is somewhat similar to Wanda's commercial real estate projects, but the pattern is larger and corresponding. The stakes are also greater; Third...... Song Chen's vision of laying out the future is really deep and terrifying.

Taking a deep breath, Wang Zuoyong groaned: "From the beginning of contact with foreign media giants last year, to the investment in Huayi Brothers, Guangguang Media, and then to the planned cinema investment, one link after another, step by step, it is completely his style!" Anyway, how much do you Chenxing Group plan to invest in Shangcheng Group? In what way? ”

Real estate is a capital-intensive industry. The gap in funds is endless, and Wang Zuoyong's acceptance of Chenxing Group's capital injection is a normal reaction, but his last sentence revealed his different intentions.

Zhai Yan raised her eyebrows and asked: "Considering the policy restrictions on foreign investment, the equity is capped at 3o%, as for what way...... Wang Dong seems to have different requirements? ”

Wang Zuoyong stared at Zhai Yan, and only after a while did he mutter: "Chenxing Group's peep into the cultural industry, so it should not be the group's purpose to make the decision to invest in Shangcheng Group. It's the ultimate strategy of the subordinate company! ”

"Not bad!" Cai Chongxin nodded cautiously and did not deny it, but he did not specify which subsidiary it was, he was one of the few people who knew Song Chen's specific plan. Every time he imagined the blueprint of the empire outlined by Song Chen, he was excited.

Wang Zuoyong was silent for a long time before he said slowly: "Since it is a 3 times premium, the equity value of the Chenxing Home Express I hold is 300 million, and the 3o% net equity value of Shangcheng Group is 150 million, so I will buy 450 million shares in the company!" ”

Zhai Yan frowned and was silent, while Wang Xiaoxue glanced at her, squirmed her lips and finally didn't say anything. Cai Chongxin thought about it for a while, and finally shook his head slowly and said, "This matter, I can't answer you for the time being!" But I guess it might be a little difficult! ”

Wang Zuoyong was silent, just staring at Zhai Yan.

Zhai Yan pursed her lips and said slowly: "Ah Chen's answer may be the same as Mr. Cai, but the biggest reason is that in addition to objective factors, there are some subjective problems that are difficult to solve, not to mention, this opening is opened, and it is difficult for us to refuse the request of our father-in-law!" ”

Father-in-law? Songhua?

Wang Zuoyong was silent for a moment and said slowly: "Although our Shangcheng Group lacks funds, my Wang family is not!" Then again, since the two families of the Song Dynasty are in the same spirit, presumably making sincere concessions should be the proper meaning of the question, Mr. Zhai, Mr. Cai, what do you say? ”

After thinking for a moment, Zhai Yan's frowning brows calmed slightly, and Ying Ying smiled: "Although we can't replace equity in this way, I think we can promise to give Shangcheng Group a certain amount of stock options in the near future!" But correspondingly, I want to increase my 3o% stake to 35%, what do you think? ”

Shangcheng Group has not yet been listed, and unlike Da Song Group, most of the equity is concentrated in the hands of Wang Zuoyong, his wife and two sons, and Wang Xiaoxue, as a daughter who can marry out at any time, has less than 3% of the equity...... Therefore, it was an easy decision to sell 35% of the equity in exchange for the jump exhibition of Shangcheng Group.

It is very clear that as long as he is in close contact with Song Chen, Wang Zuoyong can not only get more strategic details from Song Chen, but also rely on Chenxing Group to get the favor of the banking system, and help his daughter gain a firm foothold in Chenxing Group.

Therefore, Wang Zuoyong nodded very happily, but soon he was confused: "Is this plan to pull into the Great Song Group?" ”

Zhai Yan shook his head and said categorically: "The strength of the Great Song Group is not good, the project of Chenxing Community in Qiantang City has involved enough energy and funds from my father-in-law, plus the European City project is deep in mud, and he does not have the strength to participate in the city-building plan now!" ”

"What about Yang Dong? Or is it Dong Cai of Dongou Limao? Wang Zuoyong continued to probe.

Zhai Yan looked at Wang Zuoyong with a smile and said, "Is Wang Dong not confident enough to win over Dongou Hotel, or is he trying to share the risk with others?" ”

Wang Zuoyong said with a smile: "I have a great relationship with them, if there is a big project, even if I don't want them to participate, at least we have to communicate!" However, sharing risks is also one thing, after all, to complete this plan to rebuild the city, the scale of investment must be at least 5o billion! To leverage these funds, our Shangcheng Group is also the first time, we can't be cautious! ”

Zhai Yanyan said: "Wanda's 'order real estate' model has a certain reference value, and we can learn from one or two!" However, Wang Dong is also an old man, if you want to continue to cooperate with Dongou Limao, Dasong Group or Dongou Hotel, we have no opinion, but there are some details we still need to ask for your consent! In addition to the cinema assets to belong to us, I also hope to maintain a close relationship with Ctrip.com for the tourism real estate project, and Ctrip.com may also participate as an independent investor. That's why we chose Shangcheng Group as our partner, rather than Wanda Group, which has a successful experience in Northeast China! ”

When Wang Zuoyong heard it, he knew that this was Zhai Yan...... Or maybe it's Song Chen's bottom line, so he nodded affirmatively.

"These details are negotiable!"