Chapter 1148 Hongmeng 2007 (Part 1)
After leaving Sanlitun, Xu Liang came to the Hongmeng Spacecraft Headquarters in the Future Science City.
As Hongmeng’s reputation in the global technology community grows, it has become a holy place for geeks in China and even around the world.
Every time he comes here, Xu Liang sees people taking pictures here.
After a brief look, I came to the chairman's office on the fifth floor.
Not long after, the group COO Xie Wen opened the door and walked in.
"Mr. Xu."
"Waiting for you, come here quickly."
Invite him to sit down on the sofa in the reception area.
Xu Liang picked up the brewed tea and poured him a cup.
"Are you ready?"
"The senior management of the head office and major branches are already here. Even if they are unable to come due to temporary commitments, they will participate in today's mid-year meeting via video."
Xu Liang nodded, picked up the tea in the cup and drank it in one gulp.
"Let's go, finish it early so that we can arrange work for the second half of the year."
Xie Wen stood up and followed him.
The two came to the conference room on the top floor.
The room, which could accommodate hundreds of people, was already half full.
There are also people waiting on the monitors hanging around.
As the two people came in, everyone quickly stood up.
When he came to the middle seat and sat down, Xu Liang glanced at him.
Group Chief Operating Officer Xie Wen, Co-President Qu Guangyun, Chief Financial Officer Xiang Jie, Chief Technology Officer Shen Weiguo, and Chief Talent Officer Dexin.
He Guiyou, Group Marketing Department.
Zhao Tai from the Crisis Public Relations Department.
Xu Hanxing, Director of Group Supervision Department...
More than 20 senior executives from the group headquarters were all present.
In addition to them there are also subsidiary presidents.
and Yu Jun, co-president of Hongmeng Corporation and president of Bing.
President of No. 1 Store, Qian Santai
President of Pangu Company, Yang Tingkun
President of Hongmeng Pay, Shang Zhengfeng
Hongmeng Games President, Wei Xiao
President of Sina Corporation, Wang Zhidong
President of Jinshan Company, Zou Hongwei
Universal Pictures President, Ron Meyer
Youku【YouTube】President, Sun Yan
President of Chaos Company [Digital Earth], Liang Xiaoping
President of Android Company, Qiu Bojun.
Coupled with the vice presidents of major companies and heads of overseas regions, there are nearly a hundred people, forming today's huge "Hongmeng Group".
It needs to be emphasized that with the continuous development of the global Internet, the business of Hongmeng's major subsidiaries continues to grow.
The previous model of overseas subsidiaries directly managed by the headquarters has been cancelled.
All Bing’s global business has been delegated to Yu Jun.
The same goes for other subsidiaries.
Without dual jurisdiction, major subsidiaries have closer ties with overseas branches and become more efficient.
And you can rationally plan overseas business according to your own business.
For example, Bing's business covers the whole world, but Kingsoft's business is only in Asia, or even China. There is no need for the latter's overseas companies to be too big.
This obviously saves money.
Seeing the respectful expressions of everyone in the audience, Xu Liang, who had always remained calm, couldn't help but feel satisfied.
This is the country he built.
After taking a slight breath, Xu Liang waved his hand.
"Everyone, take a seat."
After he sat down, everyone sat down.
After quickly scanning everyone with his profound eyes, Xu Liang smiled.
“It has been almost eight years since the day Hongmeng was established.
In eight years, you and I have built a powerful technology group from scratch that spans the world and is famous all over the world.
As of today, the group holds four listed companies with a total market value of US$214.254 billion.
There are seven unlisted companies with a valuation of US$103.57 billion.
The business scope includes the Internet, e-commerce, finance, pan-entertainment, operating systems and other industries.
It has seven laboratories worldwide.
The group has nearly 50,000 employees.
We can stand proudly in front of world-class technology companies including IBM, Microsoft, Western Digital and so on.
I'm no worse than you! ”
Wow...
Loud applause resounded throughout the conference room.
Everyone's faces showed excitement and excitement.
As the big boss said, Hongmeng is no worse than any other technology company in the world.
After the applause stopped, Xu Liang continued with a smile.
"However, no matter how good the results are from this moment, it has become yesterday. The purpose of calling everyone here today is to summarize the past results, so that everyone can have a detailed understanding of the group and at the same time, look forward to a higher level. The future.
At the same time, it also leads the group to a higher peak. ”
After another burst of loud applause.
"Currently, the company has a total of 11 subsidiaries. The one with the highest market value is Bing, which currently exceeds US$150 billion."
As soon as these words came out, everyone couldn't help but cast envious glances at Yu Jun.
If Internet companies in the 1990s loved portal websites, then the pinnacle of the Internet in the new century is search engines.
It’s not just Bing’s market value that dominates Europe and Asia that is dazzling.
Google, which dominates the English-speaking world, is also an Internet giant with a market value of over 100 billion.
"Old Yu, you will be the first to make the report today."
Yu Jun, wearing a gray T-shirt, black sweatpants, and white sneakers, nodded.
His casual outfit is the most common style in Hongmeng.
The big boss Xu Liang is like this, what he does is what he preaches and what he practices, the whole Hongmeng's dressing style is quite free.
"Dear Mr. Xu, colleagues, Bing's leadership and care at the head office, and with the efforts of all Bing employees, as of June 30, 2007.
Total revenue in the two quarters was US$8.56 billion, a year-on-year increase of 58% and a month-on-month increase of 6%;
Net profit was US$1.925 billion, an increase of 28% over the same period last year.
In terms of business, Bing is mainly divided into two parts: online and offline.
The online business is mainly based on search, with six self-operated columns including news, encyclopedia, Q&A, pictures, knowledge, and books;
There are also eleven cooperation columns including music, video, library, map, Tieba, cloud disk, translation, and education.
After nearly eight years of accumulation, there are currently 34.952 billion pieces of content in the Bing index database, making it the world's largest index database.
Bing currently occupies 87% of the Chinese search market, 76% of the Japanese and Korean markets, 84.8% of the Southeast Asian market, 64.6% of the European market, 78.5% of the Middle East market, 41.9% of the South American market, 43.5% of the African market, and the lowest in the North American market, only 12.4% .
It is the world's largest Internet search company, accounting for 62% of the total global search market share. ”
Online search is not about technical quality, but accuracy.
The larger the database, the more accurate the search provided.
Bing has a huge advantage in this regard. And as time goes by, the advantages will become greater and greater.
“Thanks to the rapid development of search business, online advertising business has become Bing’s largest source of revenue, accounting for 80% of Bing’s total revenue.
Bing currently has 550 million registered users worldwide, 2.289 million enterprise users, and 1.328 billion daily users. ”
Yu Jun took a breath, feeling the envious eyes around him, and felt very comfortable in his heart.
“The offline part is mainly based on outdoor advertising channels.
It mainly includes three parts: building advertising, outdoor advertising, and commercial advertising.
Building advertising covers more than 190 cities across the country, with about 780,000 self-owned spaces, covering more than 72 million community people, and a market share of more than 70%.
On average, it reaches more than 200 million urban mainstream people every day.
The outdoor advertising part covers all first-, second-, third- and fourth-tier cities across the country, with 137,000 pieces of outdoor billboards, LED displays, light boxes, etc., reaching more than 100 million urban mainstream people every day.
Commercial advertising currently mainly includes offline channels such as cinemas, hospitals, and shopping malls.
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It has signed contracts with more than 3,000 channels including 679 cinemas, 1,289 hospitals, and 738 shopping malls, and nearly 10,000 screens. ”
"Bing's offline channels have become an important supplement to its online advertising business, effectively improving Bing's competitiveness in the advertising field and promoting the development of Bing's search business."
"Currently, Bing's offline channels are already the dominant player in the domestic industry. Next, we will develop abroad through mergers, acquisitions and investments, and strive to become the leading outdoor advertising company in East and Southeast Asia within three years."
After finishing speaking, he put down the documents in his hands.
"This is the end of my report. I would like to ask Mr. Xu and colleagues to comment."
Wow...
Xu Liang took the lead, and everyone applauded.
After the applause stopped, Xu Liang smiled.
"Over the years, Bing's development has been booming. Lao Yu, you are indispensable."
"Thank you for the award." Yu Jun said calmly.
"I agree in principle with the expansion of Bing's offline channels, but the focus of your development is not the advertising content, but the advertising delivery channels."
"Yes, we must keep it in mind."
Xu Liang waved for him to sit down and then turned his eyes.
"Old Qian, Yihaodian is now the company with the second highest market value of Hongmeng. It's up to you to make the report."
Qian Santai, who was wide and fat, quickly stood up.
"Mr. Xu, everyone, Yihaodian has been developing for seven years and is now the largest e-commerce company in East Asia and Southeast Asia.
We currently cooperate with more than 675,400 online merchants, covering 24 major categories including bags, bedding, shoes and hats, and electronic products, more than 200 subcategories, and nearly 150,000 different products.
The website has 273 million registered users and 387.5 million daily active users.
As of June 30, Yihaodian’s total revenue in the two quarters was US$5.422 billion and net profit was US$69 million.
In addition to e-commerce, Yihaodian’s other major business segment is logistics.
Currently, it has 28 first-level logistics centers, 673 second-level logistics centers, 14,000 logistics outlets, and 48,600 logistics self-pickup cabinets in East and Southeast Asia.
It has 39 cargo aircraft, 105 cargo ships of various types (the most in Southeast Asia), and more than 5,000 cars of various types.
274 million packages shipped.
The total revenue in the two quarters was US$712 million, and the net profit was US$171 million..."
Xu Liang listened in his ears and nodded secretly in his heart.
Yihaodian's market capitalization is around US$26 billion, one-third lower than Amazon.
If it were based on e-commerce alone, the market value of Yihaodian would not be so high. The key is that Yihaodian spends more money on logistics than Amazon.
Revenue from logistics has become the basis for supporting No. 1 Haodian’s market value of US$26 billion.
"In the next three years, Yihaodian's main goal is to consolidate its dominance in domestic e-commerce, especially in the B2C field, while continuing to dig deep into the Japanese, Korean and Southeast Asian markets, and to develop the Australian, New Zealand and European markets.
In terms of logistics, we mainly focus on the domestic, Japanese, Korean and Southeast Asian markets, and also take into account the European market. ”
The logistics infrastructure in developed countries is relatively complete. Unlike China and Southeast Asia, it is not much worse than starting from scratch.
Especially in Southeast Asia, the infrastructure is so poor.
There are many things that even No. 1 Store wants to invest in but cannot do anything about.
Fortunately, although there are few railways and roads in Southeast Asia, there are many rivers.
These natural roads save a lot of logistics investment costs.
After Qian Santai stopped, Xu Liang organized his words.
“Yihaodian is developing well, but we cannot relax.
Domestically, you face competition from Alibaba, and abroad you face competition from Amazon and Rakuten.
Once you relax, you are likely to be caught up by others and completely lose the opportunity to compete for global e-commerce dominance. ”
Qian Santai nodded quickly.
I also felt a little resentful.
If it weren't for the support of a big boss, he wouldn't pay attention to Alibaba or the Kunlun First Choice, which has been on the rise recently.
"Don't worry, I will definitely push No. 1 up and down and never let up."
Xu Liang nodded slightly, waved for him to sit down, and looked at Wang Zhidong.
"Old Wang, you come next."
Wang Zhidong stood up as he had expected it.
"Since its integration with Vivendi Networks, Sina has become a world-class Internet portal spanning Europe and Asia.
Second only to Yahoo in the global portal field.
As of now, Sina's major websites have 467 million registered users and 413 million daily active users.
It has nine major business sectors: Sina News, Sina Sports, SouFun, Tieba, Autohome, Sina Game Hall, Sina Mailbox, Sina Blog, and Sina Weibo.
It is the largest online news website in Europe and Asia, ranking first in the country and even the world in many businesses.
Total revenue in the two quarters of this year was US$3.125 billion, a year-on-year increase of 17%, and net profit was US$297 million, a year-on-year increase of 21%..."
Although Sina's revenue is more than that of Yihaodian, it is an indisputable fact that portals have been declining.
Even Yahoo's market capitalization has dropped from US$80 billion at its peak in 2005 to US$50 billion now, and Sina is no exception.
When it first merged with Vivendi, its market value once exceeded US$50 billion, but now it has dropped to US$37.2 billion.
If it weren't for the rapid development of Soufun, Autohome, and Weibo owned by Sina.
There will be more falls.
In addition to the decline in market value, Sina's price-to-earnings ratio also fell.
As of now, it’s more than 20 times. Not to mention compared to Bing’s price-to-earnings ratio of more than 50 times, it’s also much worse than Yihaodian.
The latter's price-to-earnings ratio is now close to thirty.
Fortunately, Hongmeng has been maintaining its shareholding in Sina on a regular basis.
Over the past two years, the shareholding has been reduced from 33.69% when it merged with Vivendi Network to the current 24.17%.
US$4.8 billion was cashed out.
Although the shareholding has been reduced, Hongmeng still firmly controls Sina by virtue of the AB share system.
Xu Liang explained a few words and asked Wang Zhidong to sit down.
Next is Kingsoft, which just launched this year.
Its revenue and profits are incomparable to those of the previous three big brothers.
Although the price-to-earnings ratio is still higher than that of Yihaodian, its market value is only a fraction of several companies.
This couldn't help but make Zou Hongwei take a deep breath.
By the time he finished his report, excluding the Internet technology companies that had been sold, all listed companies under Hongmeng were here.
(End of chapter)