Chapter 894 "The person who sends the pillow is here!"
"Will it be inappropriate to eat at home?"
At night, Wanliu Academy Community, which is very close to Zhongguan Village, is one of the places where the bosses of Internet giants like to live, and Tan Jincheng's new home in the imperial capital is also here.
In recent years, Tan Jincheng has also purchased some real estate in various parts of the world, and his real estate has it in China, Beijing, Shanghai, Guangzhou and Shenzhen.
Real estate in China is mainly for business trips to facilitate living. If he goes on a business trip for a long time, he usually lives in his own house.
"It's okay, today is not a formal meeting, and it was also his own request."
Foreigners seem to have a special hobby for being a guest. BMW CEO asked Tan Jincheng to meet tonight, and the request was to come to Tan Jincheng's home in the imperial capital to visit.
"It's good, it can be more hidden. We don't need to make too much preparations, just be more casual."
According to the original rigid regulations, foreign-funded automobile brands can only establish two joint ventures in China, such as Mitsubishi Motors, which cooperates with Weilai, and their other partner is Southeast Auto.
Although Southeast Auto is almost out of reach, it is not that easy for Mitsubishi to give up their cooperation with them to find a new partner, let alone find a third partner.
The popularity of new energy vehicles is booming, and first-tier brands are no longer satisfied with the two joint venture sub-brands and are eager to find new partners.
Last year, the top team did not stop everyone from having a signal of policy opening, and many first-tier brands began to get ready.
Mercedes-Benz has indirectly reached a cooperation intention with BYD through Daimler, and its old rival BMW, who is seeking breakthroughs in new energy, also wants to find a new partner.
It is the best choice to cooperate with BMW and be a BMW battery supplier.
At around 7 o'clock in the evening, Kruger arrived as promised and brought a bottle of red wine as a gift.
"Welcome to visit Harold."
"I'm disturbing you, Tan."
Kruger and Tan Jincheng are also old acquaintances. After a high-five, they joked: "There shouldn't be a reporter squatting near your home. Tan's popularity is not inferior to popular stars at all."
That's right? The Two Sessions are popular people from all walks of life entering Beijing, and there are also a large number of stars in the entertainment industry. Since Tan Jincheng started on the plane, many people have come to take photos with him. This popularity is not inferior to popular stars at all.
His handsome face, a worth of 100 billion yuan, and his always good reputation and high exposure in the past two years have made Tan Jincheng's popularity rise rapidly.
Tan Jincheng's popularity is now comparable to BAT founder, Rebs and others.
"Haha, probably not. The privacy of this community is OK. Besides, it was still a bit cold this night. No one would be waiting for me like a star."
"But even if you are photographed, it doesn't matter. We can say to the outside world that we are talking about the battery supply contract."
Kruger shrugged and grinned, "That's not good, but your reason is indeed feasible, but I have to say that Tan, you are really popular now."
During the Two Sessions, media from all over the world gathered here, and a lot of foreign media wanted to invite Tan Jincheng to interview, especially his recent cash-out on Nvidia and Tesla caused a lot of sensation on Wall Street.
Foreigners want to know what he wants to do with the money he cashed out, or is he simply not optimistic about Nvidia, Tesla, or US stocks?
"The operating pressure of modern enterprises is getting greater and greater. As founders, we need to maintain a balance between keeping low profile and attracting popularity. Staying low profile is our own cultivation, but in terms of business operations, we need to seize all the popularity so that our products can sell better."
Kruger nodded and thoughtfully. It is true. A good entrepreneur and manager must be a good "salesman."
"Come on, I hope the dinner I prepared for you will satisfy you."
Although it was a family dinner, Tan Jincheng also said it was a little casual, but there was no casual in the specific dishes. The dinner dishes were combined with Chinese and Western dishes, including Western dishes that suit the German people's appetite, and traditional Chinese food.
Among them, the roast duck, which foreigners particularly like, was also placed on the table at this time. In fact, Tan Jincheng didn't quite understand what was delicious this thing.
"It's very rich, thanks to Tan for the hospitality."
After saying hello to Tan Jincheng's family, Kruger and Tan Jin sat opposite each other. The table was only two of them. Although it was a family dinner, there was something to talk about, and Kruger also understood this.
BMW's CEO personally contacted the captain's chairman, so it was naturally impossible to talk about such a small matter as a matter of battery supply.
Benefiting from BMW's trust and the power battery corporate standards provided by it, the power battery project has found a way out. Since then, the power battery project has been developing rapidly, and BMW has also become one of Weilai's important customers.
However, due to size issues, BMW's battery procurement business does not account for a very high proportion. In addition to Wei's source, the large customer base of Xuanwu series batteries is Tesla and BAIC. In addition, Geely's procurement volume has also increased significantly.
But no matter what, BMW, which is actively deploying the new energy industry, is one of the most important customers of Weilai, including BMW Germany and BMW Brilliance, who are actively launching new energy models.
This is what Kruger came to the door for.
Due to changes in the economic environment, the National Development and Reform Commission has been discussing lowering the investment threshold in the fields of finance and new energy vehicles since last year in order to further attract foreign investment. In addition, first-tier brands are not satisfied with the two partners, and the two parties can be said to be a hit.
It is precisely because of this that the policy has not been officially announced, as top entrepreneurs, I have long known that this decision is only a matter of time before it is passed.
But some things cannot be done too clearly, and it will be ugly no matter if you fight for it yourself.
FAW, SAIC, JAC, Volkswagen and Audi are having a big fuss over this incident. On November 11 last year, SAIC signed a memorandum of understanding to establish SAIC Audi with Volkswagen at Wolfburg, which aroused strong opposition from FAW.
These companies have made a good cooperation into palace dramas.
"MINI domestically produced?"
In order to avoid leaking news and causing unnecessary trouble to palace dramas like Volkswagen, Kruger did not disclose much to the outside world before his public visit. The reason given was to renew the BMW brand with FAW.
It has not been long since Tan Jincheng got the news that Kruger wanted to meet him. The two sides did not communicate much, but only knew it was about in-depth cooperation in new energy vehicles.
In fact, this is also normal. New energy vehicles have become the hottest blue ocean market around the world. Who doesn’t want to take a bite?
In addition, with the support of the dual points policy, big points players like Weilai and BYD are also very coveted by many manufacturers.
If you want to drill for policy loopholes, anyone can do this; small companies with insufficient points can buy points to hedge, and it won’t cost much money.
When large enterprises do not want to give up their existing product landscape, finding a big player with points to cooperate has become their first choice.
Not only BMW, but since the introduction of the double-point policy, Tan Jincheng has received requests from many multinational automakers, including its current joint venture partner Mitsubishi, in terms of cooperation in new energy vehicles.
If you choose who you don’t choose who you are, the initiative lies with Tan Jincheng. Even if you don’t cooperate, he can sell points to make money.
At present, Weilai's complete vehicle and power batteries are far ahead in terms of production capacity and sales, and he has a lot of points in his hand.
Of course, Kruger knew this, so he showed the greatest sincerity that BMW could show, that is, the domestic and electric power generation of its sub-brand BMW MINI.
Before becoming CEO, he was responsible for business including MINI, motorcycles, Rolls-Royce and after-sales service for a long time, until 2013.
In addition, before becoming CEO, this person was also in charge of core businesses such as human resources and production, and he is considered a practical person.
In addition to these specific businesses, he also served as the direct boss of the current design director Thomas.
"This is a very good idea."
Tan Jincheng was indeed a little moved. The joint venture factory built a factory to localize and electrify BMW MINI. With Mitsubishi’s declining heights, it was able to take over the banner of Weilai in the joint venture field and enhance the company’s influence.
Kruger smiled, thinking that Thomas was right, and he didn't need to talk nonsense to the young chairman about business, just go straight to the point.
As long as the chips given can make him moved, it is easier to discuss cooperation.
In some details, the young chairman didn't care so much, and even could benefit the partner manufacturers.
"Yes, we want to seek a new partner in your country to make the MINI brand domestically produced, and in addition to strengthening our cooperation in the field of new energy."
"Build a joint venture?"
"Yes, that's right."
BMW has done a thorough job in the domestic production. Currently, BMW produced in China can achieve more than 60% of the complete vehicle. After the Tiexi Engine Factory is completed, the localization rate of the engine can also reach 40%, which is the highest among all joint venture brands.
The large amount of domestic production of parts has brought BMW a critical point of profit, but they have also fallen into some dilemma in sales, being overtaken by Mercedes-Benz in China and being surpassed by Lexus in the United States.
The three-cylinder BMW 1 Series is often the target of ridicule, and as a luxury brand, this reputation is quite unfavorable.
The headquarters also analyzed that there is no problem with the large number of parts and the sales of each model, and the overall sales in China exceeded 500,000 vehicles in 2016.
So where does the problem arise?
marketing!
Which car company is the best in marketing in China? Come on the lieutenant! After comprehensive analysis, Weilai has almost become the only choice for BMW.
"What about Huachen's opinion?"
Although Tan Jincheng was moved, he didn't want to fall into palace dramas like SAIC, FAW and Volkswagen. In this era of great development, there was no need to waste this energy. "This is also the reason why I came here secretly. We don't want the farces of Volkswagen to happen to ourselves, but don't worry, there will be no problem with Huachen, we will handle everything."
"Of course, we still need to take some confidentiality measures at this stage, and try not to let more people know about our cooperation; of course, if possible, I hope you can participate in the negotiations in person."
"Of course there is no problem with this."
Kruger's request was completely reasonable and in line with Weilai's interests. The other party could come out with the MINI brand, which was with sincerity of cooperation, and Tan Jincheng was not disappointed.
The MINI brand is also from the UK. After BMW took over, it has developed its kart-style handling sense, short wheelbase and precise steering are MINI's greatest driving pleasure, and the empowerment of the BMW brand makes it very popular.
To be honest, although the name of this car is relatively feminine, it is actually not suitable for women to drive because it is not very comfortable to drive. However, the biggest problem of MINI is to get rid of the name of "little three cars".
After all, this thing faces a female group. 70% of MINI's user portraits are female car owners, the average age is not high, and 85% choose high-end models.
The name of "Miaosan Car" can easily affect its sales.
The core model of MINI is MINICooper. If it can improve handling and driving comfort to a certain extent, and then launch a pure electric version, then MINI can still do it.
The most important thing is that MINI is also BMW. Cooperating with two foreign brands, BMW and Mitsubishi, can enhance Weilai's brand image even if it is just a name.
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For Wei, who has always been committed to building brand influence, this is really a sleepy person who gives him a pillow.
"Then it's OK, I wish us a happy cooperation!"
Kruger happily raised his wine glass, and Tan Jincheng also smiled and touched him.
Since tonight is just a cooperation intention and there is no specific cooperation matters involved, both parties also click to stop, and the following chat will be more pleasant.
"Weilai's financial report for 2016 should be very impressive, right?"
It is another financial report season. Weilai and Flash have always had the habit of publishing annual reports in early March, and this year is no exception. The official annual report will be released on March 3, the closing day of the two sessions.
"It's OK, BMW is also good this year. Speaking of which, we all benefit from this market."
Tan Jincheng knew the specific data. Weilai's financial report in 2016 was the most eye-catching year since its establishment, with revenue and profits rising sharply. The performance of the two core businesses, especially power batteries, was very impressive.
The power battery business has invested a lot, but the revenue growth is also very scary. In 2015, the power battery revenue was only 5.703 billion yuan, and the net profit was only 930 million yuan.
By this year, Weilai's power battery business soared to 14.9 billion yuan, and its net profit was as high as 3.1 billion yuan.
The significant increase in these two data greatly improved Weilai's industrial structure.
The business of automobiles and parts is also impressive due to the sales of the Yuechi series.
"The total revenue of the automotive sector is 54.069 billion yuan and profit is 8.1158 billion yuan. The average net profit of bicycles has declined."
At five o'clock in the afternoon of March 3, Wei Lai released the full-year financial report for 2016 and the first quarter of 2017 on time, with a total revenue of 68.969 billion yuan and an overall profit of 11.2158 billion yuan.
Compared with 2015, the year-on-year growth of the two data was as high as 54.05% and 88.926% respectively!
At the close of today, Weilai Co., Ltd. closed at 124.17 yuan, up 5.76% throughout the day, with a market value of more than 270 billion yuan, ranking 18th in A-shares, surpassing BYD with a slight advantage and becoming the listed car company with the highest market value in China.
In the first quarter of 2017, the trend of institutions hyping up blue-chip stocks has begun to emerge. The stock prices of blue-chip stocks, including banks, liquor, energy, home appliances and automobiles, have risen for several consecutive months.
Moutai has risen for six consecutive quarters, with an increase of up to 103%. As the number one blue chip in the GEM, Weilai Co., Ltd.'s stock price also increased by 35.12% from the lowest price of 91.89 yuan in January 2016.
Since its listing on November 3, 2014, Weilai Co., Ltd., with an issue price of 25.14 yuan, has had a net income of nearly four times in 28 months. Although it fell by more than 40% during the period, it was also caused by the stock market crash.
Judging from the trend of stock prices, Weilai Co., Ltd., the leading stock in the ChiNext, is definitely a safe haven under the sharp fluctuations of the stock market in the past two years.
Coupled with the significant increase in performance last year, Weilai, with a market value of more than 270 billion yuan, is still a "potential stock" in the eyes of institutions, and major institutions still maintain the overall valuation of Weilai shares of 400 billion yuan.
However, there is no problem behind Wei Lai's beautiful financial report data.
Compared with 2015, Weilai's average bicycle net profit has declined, which is mainly caused by price wars. Weilai participated in and even initiated price wars several times, which greatly affected its bicycle net profit.
In addition, behind each round of price war, Wei Lai will provide certain compensation to the old car owners, which has well maintained Wei Lai's reputation among the old user group. However, while pleasing consumers, it is the increase in Wei Lai's sales costs.
"It doesn't matter. Qian Wei can afford this. He must participate in the price war in order to maintain sales and price wars, but we must not ignore old users, so this subsidy policy will continue."
During the financial report conference call, Tan Jincheng seemed very domineering when answering this question.
He doesn't care what investors think. Wei Lai has always claimed to value consumers. How could he let them buy stocks and only see money in their eyes.
However, it is better to participate in this price war less often. Weilai has already had a certain industry status, so it is not a big deal to always initiate or participate in price wars.
This year we still have to make a fuss about the entire industrial chain, just like the Great Wall.
Speaking of Great Wall's bicycle net profit is really enviable. Great Wall, which also has SUVs and no sedan business, has very enviable bicycle net profit. No wonder Old Wei dared to say domineeringly that if Great Wall does not make money, then no car company in the country will make money.
Great Wall Bicycle has high net profit. In addition to their excellent performance in the SUV and pickup truck markets, the most important thing is their full industrial chain strategy.
The whole vehicle is own, and most of the core components are own. Can you not make money?
Wei Lai also has a full industrial chain strategy, but it is based on new energy vehicles. It has not yet been completed and has not yet reached the explosive period.
"It seems that it's time to find Zhang Li to see if he can dig up his wife."
Thinking of the bet with Wang Fengying back then, Tan Jincheng felt it was time to talk to her again. In 2016, Weilai's overall revenue was still far behind Great Wall, and there was also a considerable gap in the vehicle business.
However, Tan Jincheng felt that Wei still had a great chance of coming for this three-year agreement.
As for the other issue that Weilai was questioned by investors, it was cash flow problem. The cash flow of Weilai in 2016 was very serious.
There is nothing to say about this. Last year, Weilai invested and built a lot in power battery factories, automobile factories, parts factories, etc., and earned more and spent more. Just like his huge amount of engines, he spent a lot of money.
Investors' doubts on the conference call were more or less picky about Weilai's 2016, but it was indeed something that Weilai needs to pay attention to.
When the Yuechi series can no longer grow as much as it did in 2016 and increase the net profit of bicycles, Weilai must find ways to improve the profitability of other models of bicycles.
As for cash flow, it really needs to be noted.
Wei Lai's financial report and today's formal outfit appeared outside the venue for interviews with reporters, Tan Jincheng appeared on the Internet, especially the already popular short video APP, which was even more popular, was flooded with Boss Tan.
Since its launch in September last year, a certain voice, which was in the cold start stage, has gradually gotten on track after a period of slow user growth. Although daily active users cannot be compared with a certain player, it has great potential.
In the current jing, Tan Jincheng, who has been in the jingle since the beginning, can definitely be regarded as the "No. 1 Internet celebrity" of jingle. Zhang Yiming has attracted many users with this investor.
Xiao Zhang didn’t even promote the APP of a certain voice in the early stage. This guy really saves as much as possible.
Boss Tan, who was in full swing during the Two Sessions, secretly did not stop communicating with BMW. At present, the two sides have reached some agreements on the cooperation in the development of pure electric vehicles and traditional power vehicles.
In addition, we are actively discussing the feasibility of MINI brand automobile cooperation.
The whole process was in a state of secrecy. Kruger, who appeared in Liao Province, was maintaining his inspection with BMW Brilliance and was very satisfied with the progress of the negotiation with Wei, and the same was true for Tan Jincheng.
On March 15 and March 17, Tan Jincheng, who remained in the imperial capital after the end of the Two Sessions, secretly signed the "Disclosure Agreement on Exploring and Developing Feasibility of Pure Electric Vehicles and Traditional Powered Vehicles" and the "Discussion and Evaluation Agreement on the Feasibility of MINI Brand Auto Cooperation".
At this point, the two parties who love and are interested formally reached a preliminary agreement on cooperation.
According to the content of the agreement, the two parties jointly established a new automobile company. The new company comprehensively gathers the field of new energy vehicles, integrates and utilizes the technology, resources and management advantages of both shareholders to develop a new generation of pure electric vehicles for the global market.
To put it bluntly, it is committed to the localization and electrification of MINI. The shareholding ratio of the new company is 50:50. The chairman is appointed by Wei Lai, and the vice chairman is appointed by BMW.
In addition to the tradition, BMW's relinquishment of its position as chairman is based on many reasons.
They have no problem building cars, but they are still a little unacceptable in Chinese marketing, which often triggers some public relations crises.
"The first step is to get MINI out of the reputation of a mistress?"
After the signing of the cooperation agreement, Kruger was a little anxious to hear Tan Jincheng's opinions on MINI's brand reshaping.
"Haha, let's talk about this after the joint venture is confirmed. I have some other things to rush to the Shanghai Stock Exchange, it's too late."
Damn, the joint venture has not been officially established yet, do you still want to have sex for nothing?
(This chapter ends)