Chapter 295 Valuation
The eighth is the pan-entertainment business beyond games.
Hongmeng Music has the largest number of users, with 83 million registered users worldwide; novels follow, with users exceeding 32 million; comics last, with users exceeding 13 million, generating revenue of 135 million Huaxia coins and net profit of 38 million Chinese currency.
Finally, Hongmeng Payment, Internet cafe management software and other businesses generate revenue.
Overall, the company's net profit can reach 20.7%, if valued at 35 times.
As of now, the company is valued at $4.2 billion. ”
As soon as this was said, excitement showed on the faces of everyone present.
They all hold a large amount of equity in the company, and the increase in the company’s valuation means that their net worth has increased.
“Wow…. ”
Loud applause sounded.
After Xu Liang waved his hand, everyone calmed down.
“It can be seen that everyone is very happy, and I am very happy too. The valuation has increased and everyone has made money. However, as the company’s senior management, we not only need to see the good side of the company, but also see the good side of the company. Under the appearance of rapid development of the company, there are hidden worries.
Some people may ask, what are the hidden worries?
First, external threats to Nintendo's game business. , Microsoft, EA, Ubisoft and Vidy One Games compete, especially Nintendo, the world's largest game company, this year's revenue is 27.8 billion Huaxia coins, almost 8 times ours
The revenue of Microsoft, EA, and Ubisoft is also far higher than ours. The only one we surpass is Vidy One Game. Their net revenue this year is US$410 million.
So, our game business still has a long way to go.
I don’t ask you to surpass Nintendo, but we must at least surpass Ubisoft next year.
Then there is Internet search. Although Bing is currently the largest Internet search company in the world, there is still Google behind us who is rapidly catching up.
They firmly occupy the entire English market, especially the American market.
This year they generated $86 million in revenue and achieved a net profit of $7 million. Although it is not as good as us, as long as it occupies the entire English market, it will occupy half of the global search market. It can be foreseen that it will be our biggest enemy in the future, and also our biggest enemy in the European market.
In the portal business, we are not as good as Yahoo and AOL.
The music business is subject to copyright and piracy, making it difficult for us to generate substantial revenue.
Not to mention other businesses, we are not even among the top ten in the world. "
After a pause and giving everyone time to digest, Xu Liang continued.
"In order to further optimize our business model and management structure, I announce that the following adjustments will be made.
First, the 'Hongmeng Game Hall', originally affiliated with Hongmeng Games, will be renamed 'Sina Game Hall'. Under the jurisdiction of Sina Corporation.
Hongmeng Games cannot be both a referee and an athlete.
Second, restructure the business of Pangu Corporation.
Pangu Games. Browser owned by Bing Corporation
The mailbox business is owned by Sina Corporation.
Hongmeng payment and website management software are directly under the jurisdiction of the head office.
Part of the original company personnel will be transferred to other subsidiaries, and the rest will be established under the leadership of the company's president Zhou Kun to establish a Hongmeng West Asia subsidiary, which will be fully responsible for the operation of the company's business in the Arabic-speaking region. The subsidiary is headquartered in Dubai. ”
Everyone was shocked. They didn’t expect that Pangu had changed so much. Almost all the business and personnel were vacant.
Soon they subconsciously looked at Zhou Kun, whose expression Calm, with no emotion or anger on his face
Everyone understood, and it was obvious that the company had communicated with him in advance.
"As for the future development of Pangu Company, Mr. Xie and I are currently making adjustments. When we have a clear idea, we will announce it to everyone at the conference."
After hearing this, everyone felt that Somewhat curious.
But Xu Liang didn’t say anything, and there was nothing they could do.
"Third, disband Hongmeng Xiangjiang subsidiary, which was originally part of the Greater China business of Hongmeng Xiangjiang subsidiary, and will be merged into Hongmeng Central and South subsidiary, under the leadership of President Li Haizhen.
The original Philippine market business was transferred to Hongmeng Nanyang subsidiary and was led by President Wang Tao. ”
The jurisdiction of the Xiangjiang subsidiary is too small. Although there are many people, apart from the 30 million people in Greater China, the Philippine economy is too poor. With the continuous expansion of Hongmeng, there is no need to retain another one. Independent subsidiary.
The reduction can also save administrative expenses.
"Fourth, Hongmeng Germany subsidiary was established to focus on the German market, and Qu Guangyun, the former president of Hongmeng Xiangjiang subsidiary, was appointed. President of the company. ...Laoqu, the German-speaking population in Europe exceeds 100 million, and they are all economically developed areas.
So, your task is very heavy. ”
Qu Guangyun nodded, "Mr. Xu, please rest assured. I will adjust company policies according to local conditions and user habits, and will never copy Xiangjiang's old routine."
"As long as you understand this." After a pause , "As well as the leaders of all our subsidiaries, you must always keep in mind that you should adapt to local conditions, put users first, and respect local user habits.
If I find that any of you do not comply with local regulations because of contempt for local users, His behavior and habits have caused heavy losses to the company, and I will punish him without mercy."
"Understood"
Everyone agreed quickly.
"Fifth, Hongmeng Games operates independently and the management remains unchanged."
Hongmeng Games is getting bigger and bigger, and there are more and more things happening, and it is no longer suitable to stay within the company. "Finally, the Hongmeng Management Committee is established. The main leaders of each subsidiary, as well as myself, Mr. Xie, Mr. Finance, Mr. Shen, the Chief Technology Officer, and the Chief Human Resources Officer, will serve as members of the Management Committee.
The management committee will meet on the seventh of every month to summarize and listen to the reports of the company and each subsidiary, and to solve major problems encountered by each company.
The meeting will be chaired by me, if I am not here. , will be hosted by Mr. Xie.
Keep meeting minutes on file.
In the future, the Hongmeng Management Committee will become the main management organization of Hongmeng. ”
One person can gauge the shortcomings, and two people can gauge the strengths. Only by working together can the company develop and grow.
As the company grows, it is no longer possible to be managed by one person or a few people. Now What is needed is the wisdom of the group.
After this adjustment, the entire Hongmeng company is divided into five direct subsidiaries: Hongmeng Games, Yihaodian, Bing, Hongmeng and Sina, as well as South Korea, Japan, Zhongnan, Seven overseas subsidiaries in Southeast Asia, West Asia, Europe and Germany.
Businesses still directly under the headquarters include: Hongmeng Literature, Hongmeng Comics, Hongmeng Payment and Hongmeng Internet Cafe Management Software.
The main business is pan-entertainment, Internet search and portal websites, and the non-main business is e-commerce, online payment, software, etc.
"Okay, the report from the head office is over. Now it's the turn of each subsidiary to report."
Xu Liang's eyes turned around and landed on Qian San who was sitting behind him. On Tai.
“Old Qian, let’s start with your No. 1 store.”
Qian Santai was a little surprised. He thought Xu Liang would order the Hongmeng Japanese subsidiary with the largest revenue first.
But now that he has been called upon, he does not have stage fright.
Although Yihaodian’s revenue is not as good as that of subsidiaries such as Dongying and Bing, it is not much different.
“It has been nearly a year and a half since the establishment of No. 1 Store. During this year and a half, under the guidance of the head office and Mr. Xu, No. 1 Store has made great progress. Progress.
As of the end of 2001, there were 23 offline stores in Yihaodian, located in nine major cities: Beijing, Magic City, Yangcheng, Pengcheng, Jinmen, Hangcheng, Daocheng, Jinling and Wuchang. The average store area is more than 2,000 square meters, all located in mainstream business districts
In the entire fiscal year 2001, offline stores generated revenue of 219 million Chinese dollars and net profit of 71.29 million Chinese dollars.
Compared with offline, the online No. 1 store has developed more rapidly.
As of now, Yihaodian has a total of 3.1 million registered users, covering a total of 11 categories and more than 30,000 online products, including audio and video products, clothing, shoes and hats, bags, and daily necessities.
Especially after cooperating with Hongmeng Pay to solve the problems of difficulty in payment, claim settlement and return, Yihaodian has made great progress.
For the entire fiscal year 2001, online revenue was 115 million Chinese dollars and net profit was 21.2 million Chinese dollars.
In fiscal year 2002, we plan to continue to expand the types and quantities of online products, increase the number of offline stores, and strive to exceed 30 VIP stores before the end of the year.
In terms of performance, we strive to exceed 600 million Chinese dollars and net profit exceed 150 million Chinese dollars after the end of fiscal year 2002.
Also.
Mr. Xu, I hope that the operating restrictions of No. 1 Haodian can be relaxed and we can become a real e-commerce company. "
Looking at the longing in Qian Santai's eyes, Xu Liang sighed.
He had expected this day.
Everyone has ambitions. In the past two years, Yihaodian has made great achievements in e-commerce and cultivated mature talents. After perfecting the technology, it will definitely want to continue to grow.
This is determined by human nature.
“Which mode do you want to choose?” Xu Liang asked.
Qian Santai was shocked. The big boss didn't explicitly refuse, which meant there was hope.
He said quickly.
“B2C.
Our No. 1 store model is B2C, so this business-to-individual model is most suitable for us, and there are also very mature business models at home and abroad.”
Xu Liang nodded slightly.
“I can promise you, but the company’s main business is pan-entertainment and Internet search, so I can’t give you much help at the moment.”
Qian Santai felt happy and said quickly.
“Without the support of the headquarters, the online and offline profits of our No. 1 store are enough to support our early expansion. In addition, I hope to cooperate with the boss’s Hanhua Capital’s ‘Xuanwu Fund’, and they will invest in the construction of logistics We will rent the base and pay the rent on time."
"You are very good at seizing opportunities...but it is up to you to discuss how to cooperate. Ability."
"Yes."
Qian Santai nodded quickly.
They are all companies owned by the boss, so it is much easier to negotiate than outside banks or funds.
"Old Wu, the next one is your game department."
Wu Xifan nodded and took out the information he had prepared long ago.
"Currently, there are three game studios under Hongmeng Games, Dijiang, Jumang and Zhurong.
It operates five games, "Legend 2", "Millennium", " "Red Moon", "Bubble Hall" and "Bubble Show".
(End of this chapter)