My Age of Investment

After Lin Bing finished reporting his work, Wang Tao, who accompanied Li Zexiang to the meeting, changed from his usual silent introversion and spoke very actively: "Mr. Xia, DJI Phantom 1 and Fuxing FX2 are sold online at the same time. The products are sold through various channels such as the website, Jingxi Mall, Fuxingzhijia offline stores, and Best Buy, a chain brand of home appliances and electronic products in the United States.

As of yesterday, DJI Phantom 1 has achieved sales of 12,000 units. "

Looking at Wang Tao who was overjoyed, Xia Jingxing smiled and said, "Really? This is a good start. It shows that DJI Phantom's product design has impressed consumers. Your three years of hard work have not been in vain."

Wang Tao smiled slightly, "I still want to thank Mr. Xia for personally bringing the goods. The group has also provided us with a lot of resources to help. If we only rely on ourselves, we may not be able to achieve the current results for another three years of development."

Li Zexiang nodded in agreement. As a student, he was an honest person. He really didn't say this to please his boss deliberately, but because he felt it.

After DJI became a member company of Fuxing Industrial Group, it indeed received a large amount of resource support.

Not to mention that the boss Xia Jingxing personally promoted drone products at the much-anticipated mobile phone launch conference. Through the Fuxing Industrial brand, DJI easily signed cooperation with large and small sales channels, even in the supply chain. , Fuxing Mobile has also provided countless support to DJI.

There is a lot of similar help. DJI only needs to study hard and improve its products. It does not need to worry too much about marketing, branding, supply chain, finance and other aspects.

It really proves the old saying: The good wind sends me to the blue clouds by virtue of its power.

Standing on the shoulders of Fuxing Industry, DJI has made great achievements in development for several years. Now the development of this company has entered a new stage, from an unknown person to a well-known name among American technology enthusiasts. "Oriental Black Technology".

Other executives around him were as shocked by DJI as they were by Fuxing Mobile.

As the smallest and least significant aerospace business group within the group, it was actually proud and proud.

Originally they thought DJI was just a toy company, but looking at it now, even if it is still a toy company, it is still a high-end toy company.

It’s not cheap, priced at US$699 overseas and RMB 4,999 domestically!

Xia Jingxing smiled and said: "With the continuous development and progress of smartphones, AI technology and chip industries, DJI still has great sales potential that can be tapped.

The 12,000 products currently sold are all consumer-grade drones, and there are more use scenarios that need to be developed. "

Wang Tao nodded lightly, "Understood, after the success of DJI Phantom 1, we are already working on the development of professional-grade and industrial-grade products.

In the future, DJI will not stop at aerial photography and travel only for individual consumers. "

Xia Jingxing smiled and said: "Don't be too anxious. Make a name for yourself in the consumer market first, cultivate this market well, polish the products and technology, and then move towards professional and industrial grades that are heavier in weight, volume and development difficulty." market."

Wang Tao nodded and smiled and said: "Okay, we will launch the official product of Phantom 2 as soon as possible, and at the same time make improvements to solve various problems that users encounter when using Phantom 1."

Xia Jingxing smiled lightly, feeling that Wang Tao had matured a lot. It seemed that the environment changed a person a lot.

“What is the sales ratio between the domestic and U.S. markets?”

Wang Tao replied: "The gap is huge, basically 2 to 8. Of the 12,000 units sold, the US market contributed nearly 10,000 units."

Xia Jingxing was not surprised at all by this result. Americans are richer, and consumerism is prevalent. They like to spend money to enjoy themselves, and they don’t feel pain when buying flashy things. It’s a matter of drinking today and getting drunk today, worrying tomorrow. .

In contrast, except for model aircraft enthusiasts, not many people in China are willing to spend 5,000 yuan to buy a drone for fun.

Xia Jingxing said: "Okay, this market sales share may be maintained for a long time. DJI's main focus should be on overseas markets and entering the European market as soon as possible."

Wang Tao replied: "We have already made plans. In the second half of the year, DJI will set up a branch in Germany, or its European headquarters."

"Will funds be tight?"

Wang Tao moved his eyes to Li Zexiang beside him, who smiled and said: "Mr. Xia, nearly 80% of the parts of DJI Phantom 1 can be used with smartphones or computers, and most of them are made by The domestic supply chain provides that the procurement cost can be similar to that of Fuxing mobile phone, but the manufacturing and assembly costs are slightly higher than that of Fuxing mobile phone.

What really drives up the manufacturing cost is the other 20% of components, of which the camera is provided by Sony, the main control chip is from STMicroelectronics, the battery control chip is from Texas Instruments, the gyroscope is from Invensense and Analog Devices, and the dedicated CPU is from Qualcomm and Intel... …

At present, the DJI Phantom 1 has not yet achieved economies of scale, and cannot rely on the supply chain of Fuxing Mobile to lower prices, resulting in the difficulty in lowering the procurement cost of these parts.

Even so, we still have nearly 50% gross profit for every product sold.

If DJI can maintain a relatively ideal sales situation in the future, we will not have a big problem with self-sufficiency. "

Xia Jingxing chuckled and said: "The cost is still a bit high. The cost-to-price ratio is controlled within 20%, which is a relatively reasonable number. The relatively generous profits can also support the company's development trend of maintaining high R\u0026D investment."

Xia Jingxing vaguely remembered that DJI's cost-to-price ratio was very low, just over 10%. It was more profitable than most mobile phone manufacturers. From time to time, it would use its price-killing knife to attack its friends.

Friendly companies are suffering terribly, but DJI is extremely calm because they still have a considerable profit margin after cutting prices.

The reason why we can control costs so well is inseparable from the support of a complete domestic supply chain.

The domestic supply chain has benefited from the development of smartphones. Because labor is cheap, mobile phone manufacturers from all over the world come to China to purchase parts and OEM assembly, which has helped China forge a consumer electronics industry supply chain.

Although they have little technical content, they cannot withstand quantitative changes and turn into qualitative changes. Many foreign-funded enterprises keep saying that they will withdraw from China and go to Southeast Asia and India. In the end, they find that they cannot do without China and they have become too big to lose.

In fact, DJI’s technology is not much ahead of foreign drone manufacturers. The reason why it is competitive in the global market is because it relies on the Chinese supply chain.

It’s not that the United States can’t produce drone products that are comparable to DJI’s, it’s just that it’s very expensive. DJI only costs $1,000 to develop a product, while the United States needs $10,000.

Moreover, DJI has a first-mover advantage, and latecomers will have to pay a high price to catch up.

When Li Zexiang heard Xia Jingxing's request to lower costs, he could only smile bitterly and said: "Lowering costs cannot be achieved overnight. Increased sales, technological improvements, supply chain growth, etc. all take time."

Xia Jingxing said: "I know this, let's plan it as a long-term goal. "

Li Zexiang nodded lightly and said no more.

Then, Zeng Yuqun, President of the Energy Business Group, Li Ying, President of the Smart Home Appliances Business Group, Shen Xiangyang, President of the Cloud and Smart Industry Business Group and Dean of Renaissance China Research Institute, and Wang Jian, Vice President of the Renaissance China Research Institute respectively reported on their work in the first half of the year and made corresponding remarks. work summary.

The CEOs of the three group direct subsidiaries of Fuxing Mall, Fuxing Automobile and Sunchi Real Estate also reported to Xia Jingxing what achievements they had made in the first half of the year and how far they still fell short of the goals and tasks for the second half of the year.

After the five business groups, one sub-group, one research institute, and three directly managed subsidiaries all reported their work, a whole morning passed.

Although Xia Jingxing had asked everyone to give a brief report and he had given various instructions in a concise and concise manner, the company could not handle the situation as it became larger and larger, and it was unavoidable to have high-level discussions.

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