My Age of Investment

After Lin Bing, Li Ying was the second to give a report. With her brows filled with joy of harvest, she first glanced at Xia Jingxing, who was sitting at the top, and then looked around and said, "In the past year, the scale, scale, and Speed ​​and industrial upgrading have become key words in the panoramic blueprint of China's home appliance industry in 2010.

The size of the domestic home appliance market exceeded the one trillion yuan mark for the first time, reaching 1.04 trillion yuan. The domestic market growth rate for the whole year exceeded 18%, the highest in the past 10 years.

With this shareholder style, Fuxing Smart Home has successfully completed a five-year "internal strength training", reshaped the brand, integrated production, supply chain, channel dealers and other resources distributed across the country, and achieved annual sales of refrigerators respectively. 8 million units, 11 million washing machines, 3.5 million air conditioners, 9.5 million televisions, and 48 million kitchen appliances and small household appliances.

In addition, the digital industrial company established on the basis of the production plants spun off from various home appliance brands also undertakes some home appliance OEM and mobile phone OEM business, especially the mobile phone OEM business. The growth is very gratifying, and it already has an annual production and manufacturing The capacity of 5 million new smartphones.

Next year, the digital industry will begin to try to OEM tablets, laptops, and desktop computers. The automotive OEM business will start later, and it does not yet have the production qualifications and technology in this area.

According to rough statistics, Fuxing Smart Home's annual revenue in 2010 was approximately 69.6 billion, with net profit of approximately 2.5 billion. "

After listening to Li Ying's report, the executives present nodded involuntarily, and then began to exchange glances with each other.

In the past, Home Electronics Group was the second largest player within the Fuxing Industrial Group, but now it seems that it will probably remain the second largest player for thousands of years.

However, its revenue growth rate is still very impressive. They vaguely remember that Fuxing Zhijia's revenue was only 40 billion two years ago, but now it has almost doubled.

Excluding OEM, if we compare the home appliance business separately with peers such as Midea and Gree, it is probably close to the two.

Among them, Gree mainly sells air conditioners, and its products are not as diversified as Fuxing Smart Home.

As for Midea, due to the fact that Fuxing Zhijia blocked brands such as Little Swan washing machines in advance, its rise has been affected to a certain extent. It has not been crowned the home appliance king this year, and its revenue has been gradually caught up with Fuxing Zhijia. .

Unlike the executives, Xia Jingxing did not pay too much attention to Fuxing Smart Home's revenue and market ranking. Instead, he asked Li Ying about Fuxing Smart Home's next plans and arrangements.

“The four-year campaign of sending home appliances to the countryside is almost coming to an end. The three provinces and one city in the pilot program, including Henan, Shandong, Sichuan, and Qingdao, will end their subsidies at the end of November 2011, while other provinces and cities will end their subsidies one year later.

It is foreseeable that after the state stops financial subsidies, the purchasing enthusiasm of consumers in the already almost saturated rural and small town markets will quickly fade, and home appliance sales will also fall sharply.

In the long run, it will be difficult for Fuxing Zhijia to maintain a business growth rate of 30 to 40% just relying on the domestic demand market, and competition among peers is also becoming increasingly fierce.

During the National Day last year, a bloody incident occurred in a shopping mall in Anhui Province. A shopping guide from Gree beat an intern salesperson from Midea to death. "

After hearing this incident, the surrounding executives all changed their expressions. Is the home appliance industry so involved?

…

Xia Jingxing frowned slightly and said, "Why did I hear that someone from Midea went to tear up the poster at Gree's booth first, and two people hit one person. Gree's employees fought back out of self-defense and killed one of the Midea employees. It pushed him down, causing the other person to bleed on the brain, and because this person’s platelet count was far lower than normal, he died after resuscitation failed.”

Li Ying nodded and said: "Yes, although it seems to be an accidental incident, it also illustrates the fierce competition in the home appliance industry.

In fact, not only Midea and Greta, but also our employees have had conflicts with employees of other home appliance companies, but no fatalities have occurred. "

Li Ying's fluttering words, "It's just that no fatalities have happened," made other executives look at her. Compared with the home appliance industry that has been swept away by Tianji, the business sectors they are responsible for seem to be a little better.

Thinking of this, they suddenly felt that they no longer needed to envy other people's business growth, after all, it was really "beaten" with punches and kicks.

Xia Jingxing looked thoughtful. He was not completely unaware of the employees fighting to rob the market, but hearing about it again today inevitably made him feel a little touched.

Without technical content, we can only do it domestically.

Executives sit in their offices strategizing, while employees below are having their heads in the mall.

Let's just say this is a business war, just the kind of business war where an ax gang is wielding an ax to grab territory.

As if she knew what Xia Jingxing was worried about, Li Ying immediately added: "We have already made detailed plans to explore foreign markets.

Next month, Fuxing Smart Home will hold a product launch conference in London to release the first generation of smart home products equipped with Hongmeng IoT operating system.

This is also the first step for Fuxing Zhijia to enter the European market.

In addition, we have also negotiated a sponsorship contract with Liverpool FC for advertising on the chest of the jersey. Fuxing Zhijia’s logo will follow the footsteps of Liverpool players competing in the Champions League and appear in front of hundreds of millions of European users. "

Xia Jingxing smiled and said, "Okay, I have practiced internal kung fu for five full years now, and it's time to show foreigners "Chinese Kung Fu".

However, it should be noted that the British and some Europeans are always immersed in the afterglow of the colonial empire that has long since dissipated and cannot extricate themselves. They have always viewed technological products from China with contempt.

To truly break into the European market, it takes time and a lot of effort. "

Li Ying nodded to express her understanding. Having said that, sometimes Europeans are more annoying than Americans, but when it comes to business, they are not shabby. When the day comes when Europeans no longer have troubles, they will be honest.

Then, Zeng Fuqun briefly reported the 2010 financial report of the new energy business group. Revenue was 4.2 billion, and net profit was negative, with a loss of about 1.5 billion.

Because it is backed by Fuxing Industrial Group, the first guinea pig of the CATL era naturally chose Fuxing Automobile.

Speaking of this, Zeng Fuqun introduced in detail: "This year Fuxing Motor will release its first new energy vehicle, which will be equipped with our lithium batteries.

In addition, the four ministries and commissions started pilot work on subsidies for private purchases of new energy vehicles last year. According to industry analysts, subsidies and promotion of new energy vehicles should be further increased this year.

For new energy vehicle companies and automotive power battery manufacturers, the spring we dream of has finally arrived.

However, judging from Tesla's growth trajectory, promoting new energy vehicles is a long process. The installed capacity of power batteries will not increase for a while, and more energy will eventually be put on research and development while introducing products into new energy sources. The automotive supply chain, while improving the performance of our batteries based on market feedback, is our main development direction in the next few years. "

Xia Jingxing nodded slightly. He seldom interfered in the work of the new energy business group and chose to delegate power to Zeng Fuqun. Whether from the experience in his previous life or the close contact in this life, it showed that Zeng Fuqun was a very independent person who formulated strategies. He is also a very precise talent and does not need to worry too much.

After introducing the development of automotive power batteries, Zeng Fuqun added: "The progress of the photovoltaic business is slower. The team has been established for so long. In addition to doing some silicon material research and development work, the main energy is spent on collecting information on the industry chain. The midstream and downstream industry information and analysis of market dynamics are the same as the research team of an investment fund."

Xia Jingxing smiled and said, "Is there any problem? This is what I asked you to do in the first place! It is so difficult to build a building brick by brick. It is far better to buy a building at the right time, then decorate it yourself and open it to the public."

Zeng Fuqun reminded: "I think our domestic counterparts are going crazy. In the past year or two, they have been crazy about building new factories and expanding production capacity. Are we just going to keep watching?"

"Don't worry about them. It's just the last bit of madness. When the bubble bursts, you have to sell yourself honestly."

Seeing that Zeng Fuqun still looked dubious, Xia Jingxing decided to give him reassurance and said, "The European debt crisis is getting worse. Some people will not be able to sit still."

Zeng Fuqun's eyelids suddenly twitched. He understood the boss's subtext, which meant that someone would make some off-market moves that violated the spirit of fair trade.

can you?

Considering that China's photovoltaic industry has "both ends outside", 90% of its products are exported, and its upstream silicon material and silicon ingot production technology also relies heavily on foreign countries. If someone really wants to hit you hard, there is almost no way to counterattack.

Considering that Europe is currently mired in debt and the economy is in a slump, domestic photovoltaic companies are still frantically expanding production capacity, pretending not to know that there is overcapacity, and seem not to worry at all about problems with sales channels...

The more Zeng Fuqun thought about it, the more he felt that Xia Jingxing's words made sense, and maybe something big was going to happen.

Thinking of this, he is no longer in a hurry to rush into the photovoltaic industry to get a piece of the pie. When the sky falls, he can just step in and clean up the mess. Who can refuse the Fuxing Industry, which holds a lot of money?

…

After Zeng Fuqun, Shen Yang, general manager of Wuling Motors, also made a work report on behalf of the automobile sub-group. In addition to saying that he would actively cooperate with the new energy business group to complete the promotion of automobile power batteries, he also focused on introducing the development results of the three major automobile brands. .

Driven by favorable policies such as cars going to the countryside and purchase tax concessions, Wuling sold a total of 1.15 million mini cars in 2010. Not only did it retain the industry sales champion for four consecutive years, it also became the first domestic company with annual production and sales exceeding 1 million vehicles. A single car company.

As a new brand, Baojun has also sold nearly 80,000 vehicles and has initially established a firm foothold in the industry.

The two subsidiaries contributed to the entire revenue of Fuxing Automobile Group, about 41 billion, while Lilan's revenue was very small, only one to two billion. Due to being dragged down by Fuxing Automobile, when the financial report of the automobile group as a whole was calculated, Lilan turned into a negative number, with a loss of about 2.2 billion.

Shenyang explained: "Fuxing Motor will officially release its first new energy vehicle this year, and the financial report should be improved by then."

Xia Jingxing shook his head and laughed, "Then you appear to be too optimistic. If you want to promote new energy vehicles, you will need to prepare for losses for at least five years, or even ten years.

I can still bear the temporary loss, of course, provided that the sales of cars are getting higher and higher. "

Shen Yang quickly nodded in agreement.

Seeing the other party's performance, Xia Jingxing suddenly felt hesitant. Although Shenyang was very capable and led Wuling to great success, new energy vehicles were still somewhat different from traditional fuel vehicles. For example, the marketing methods were very different. He When considering whether to appoint Shenyang as the CEO of the entire Fuxing Automobile Group, is it possible to manage it himself first like the mobile phone business?

While Xia Jingxing was thinking about this matter, Shen Xiangyang and Li Zexiang reported on their work on behalf of Cloud and Wisdom and the Aerospace Business Group respectively.

The two business groups are still at the bottom of the pile. One relies on Fuxing Cloud to support its appearance, and the other relies entirely on DJI drones to make a little money. The revenue has not exceeded the 1 billion mark, and the loss figure is several times the revenue. .

Both business groups are still in their infancy and will take at least several years to reach maturity.

The last one to report was Zhang Rujing, who brought good news and bad news to Xia Jingxing.

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