My Age of Investment

After entrusting Li Yaozu and the Hong Kong Island team with full authority to conduct due diligence on Hengtai, Xia Jingxing returned to the mainland from Hong Kong Island.

Pengcheng was his first stop.

After receiving a capital injection of 100 million yuan from Xia Jingxing, DJI has changed from shot to shot, moving its office from the cramped and narrow warehouse of Chegongmiao Magazine to the spacious and bright office building in Nanshan Science and Technology Park.

The Nanshan Science and Technology Park has only been built for a few years, but it has gathered the essence of the entire Pengcheng science and technology industry. Enterprises settled in the park include Huawei, ZTE, Penguin, Great Wall, Shenzhou, Konka and so on.

DJI chooses to settle here, in addition to enjoying certain policy support, it can also attract talents nearby.

Nowadays, there is no major in drones at all, and DJI can only recruit some engineers with good basic skills from other technology companies. Everyone relearns and explores how to manufacture drones and flight control systems.

Li Zexiang and Wang Tao stood at the entrance of the company, welcoming Xia Jingxing and his party.

Wang Tao was still the same as before, reticent, and stood aside after greeting Xia Jingxing.

Li Zexiang, on the other hand, has a lot of sophistication and sophistication. He smiled and led Xia Jingxing to visit the new office of DJI, introducing him while visiting.

Then, he and Wang Tao brought Xia Jingxing to a conference room.

As soon as he sat down, Li Zexiang said, "Mr. Xia, don't be surprised. We just moved here, and we haven't had time to start a lot of work."

Xia Jingxing waved his hand indifferently, "It's fine, it's already very efficient."

What he said was actually the truth. Wang Tao and Li Zexiang returned to China from the United States half a month ago with a full harvest.

As soon as the two returned to Pengcheng, people from the Fuxing Industry Group came to the door.

First signed an equity investment agreement with them, and then paid an initial equity investment of 30 million yuan to help lease a new office.

At the same time, Fuxing Industrial Group also transferred more than ten employees from Fuxing Mobile to the south of Pengcheng to join DJI, and served as DJI's CFO, HR, legal affairs and other important positions.

The joining of these people quickly helped DJI set up a corporate framework, improve various functional departments, and transform it from a small workshop into a decent company.

If Wang Tao and Li Zexiang are not included,

The original DJI had only 3 employees, and the number of people sent by Fuxing Industrial Group was several times more than this number. In terms of personnel composition, the parent company has already accounted for the majority.

Wang Tao and Li Zexiang have no objection to this. After all, Fuxing Industrial Group has invested so much money in DJI, and it is a normal request to control the company, and this is only carried out with their consent.

Now everyone's goal is the same, and they all want to make the cake bigger.

And when they were in the United States, Xia Jingxing talked with them about the corporate structure and division of responsibilities.

The group headquarters sends people to manage finance, manpower, marketing, etc.;

Wang Tao served as the company's CTO, liberated from the mundane tasks he hated, freed up all his energy, led the team to conduct research and development, and released the first product as soon as possible;

As the CEO of the company, Li Zexiang is in charge of the overall situation. At the same time, he uses his identity and influence in the academic world to recruit some talents from various universities on Hong Kong Island, the mainland and overseas to join DJI to strengthen the company's R\u0026D capabilities.

When they were in the United States, the two visited the product launches and delivery meetings of Fuxing Mobile and Tesla, and had in-depth conversations with the R\u0026D teams of the two companies.

After visiting and communicating along the way, they were deeply impressed by the research and development concepts and feelings of Xia Jingxing and the two companies.

Whether it is a mobile phone or a car, they are all working towards the goal of "subverting tradition and bringing innovation to the world".

Engineers or scientists have always had a sense of arrogance, or IQ superiority, and the more capable they become, the more arrogant they are.

Wang Tao embodies this to the fullest. When interviewed by the media in his previous life, he bluntly said, "This world is too stupid, it's unbelievably stupid."

But when facing Xia Jingxing, he can only put away this sense of superiority, because compared to Fuxing mobile phone and Tesla, the current DJI is nothing.

"The Chinese New Year is coming soon, and the recruitment work can only be temporarily suspended. After the Spring Festival, DJI will fully start the recruitment and expand our R\u0026D team."

Li Zexiang glanced at Xia Jingxing, who looked normal, and continued to report: "In addition, I have already called several of my graduate students, and they all agreed to join DJI, and they will come to report in the next year."

"Is there Zhu Xiaorui?" Wang Tao interrupted suddenly.

"Yes, she has just received a doctorate from the Center for Robotic Systems at the University of Utah, and Harbin Institute of Technology plans to hire her as an associate professor at the Institute of Deep Research.

She is not yet 30 years old, and she is about to lead a doctoral student, and she is still a woman. "

The latter sentence seemed to be deliberately said by Li Zexiang to Xia Jingxing.

He glanced at Xia Jingxing and said, "Mr. Xia, this girl is very accomplished in the field of robotics. I want to hire her as the chief scientist of DJI."

Wang Tao was afraid that Xia Jingxing would disagree, so he nodded wildly from the side: "That's right, this senior sister's skills can beat me ten times."

Xia Jingxing had heard of Zhu Xiaorui, she was indeed a formidable female scientist.

In her previous life, she served as the chairman of the branch and international affairs committee of the IEEE International Robotics and Automation Society. This is the first time a mainland scholar has held this position.

Then she also led the team to successfully realize the first flight test and aerial photography experiment of Mount Everest in China using a small unmanned helicopter.

The most powerful thing is that, as the person in charge, she developed a set of "Intelligent Pre-Detection System for Archaeological Excavation Site". .

What is the concept of this award? If you get another award of the same level, you can enter the Academy of Engineering or the Academy of Sciences as an academician.

In his previous life, Li Zexiang also recommended Zhu Xiaorui to join DJI, which had just started, and provided a great boost to DJI's early technological development.

This kind of talent is willing to join, Xia Jingxing naturally has no reason to object.

"Technically, as I said before, it's all up to you to check it out. The people sent by the group headquarters are mainly to assist you."

Seeing Xia Jingxing's admonitions so easily, and really not casually meddling in technical matters as promised before, Wang Tao and Li Zexiang felt relieved a lot.

Especially Wang Tao, he can let go of the company's equity, business management and other things, but for the research and development, he is very focused on it, and he regards it as his ideal house.

Fuxing Industrial Group has already controlled 70% of DJI's shares, and at the same time sent people to take over various important positions in DJI except R\u0026D. As long as there are no major problems in the R\u0026D work, Xia Jingxing will not point fingers too much.

This can be regarded as a tacit understanding reached between him and Wang Tao, each takes what he needs. With the help of Fuxing Industrial Group's capital strength, Wang Tao has developed a world-leading drone, and Fuxing Industrial has an additional world-class brand.

"What are your thoughts on the future development of DJI?"

Previously, Xia Jingxing hadn't discussed this topic with the two of them in depth because the matter had not been finalized. Now that DJI has joined the Fuxing Industrial Group, he desperately hopes that this drone company can grow rapidly.

"Fully develop our own flight control system..."

Wang Tao thought for a while, and added: "You can also save a few machines, let's sell them to the outside world, and make some money."

Li Zexiang didn't open his mouth. He knew that his student's proposal was a little too petty. With the ambition of Fuxing Industrial Group, he definitely didn't like this kind of small business.

Xia Jingxing smiled, but made no comment.

Wang Tao’s thinking cannot be said to be wrong. DJI developed in this way in his previous life. He saved drones just like saving computers, and then sold them to make a profit. The money was used to support the research and development plan of the flight control system.

The price of the aircraft produced by DJI is not low, and it was sold to a state-owned enterprise for 200,000 yuan, but after the product was demonstrated to the leader, it was shelved, or the product was taken home by the leader for his son to play with.

Sales are limited, making it difficult to become a big company.

Coupled with Wang Tao's lack of skills and experience when he was young, the team quickly fell apart, and someone secretly sold the company's design drawings.

Even worse, there are competitors who bought the blueprints, bought DJI's internal employees, and used DJI equipment for product testing...

The reason why DJI was able to survive in the early days has a lot to do with Wang Tao's paranoia that he must do things well, and it has a lot to do with Li Zexiang's many times of help.

Xia Jingxing turned his attention to Li Zexiang, he wanted to hear the opinion of this scientist with market-oriented thinking.

Seeing this, Li Zexiang knew that it would be impossible not to speak up.

He pondered for a moment, then slowly said: "Mr. Xia, if I'm not wrong, you want to make drones into popular electronic products like mobile phones and cars."

Xia Jingxing smiled and nodded slightly.

Li Zexiang continued: "In that case, there are a few issues that must be resolved.

The first problem is the cost. A drone on the market now costs hundreds of thousands or hundreds of thousands.

It is a very niche product, only those who really like model airplanes and have a certain financial strength can afford it.

If drones are to be brought to the market on a large scale, the manufacturing cost must be reduced to at least one-fifth, or even one-tenth of the current level.

Secondly, I have recently researched the UAV market and found that there is no complete machine sales company, and all players DIY or buy other people's DIY products.

To describe it in one sentence: Buy the frame in the east market, buy the flight controller in the west market, buy the battery in the south market, buy the propeller in the north market...and then assemble it into a complete machine.

These two problems can be summed up. In fact, there is only one problem. The supply chain system is not perfect, and the market and industry have not been formed. "

Xia Jingxing smiled: "The summary is very good! In my opinion, this is actually complementary. The cost is too high, which leads to the high price, which makes the sales very low. Naturally, there will be no supply chain manufacturers specializing in the production and supply of drones. individual parts.

But if we can give supply chain manufacturers ten times or a hundred times the orders, some people will be interested in this business, thereby achieving the effect of reducing the cost of parts.

When the cost of parts is reduced, the selling price will naturally be reduced, so as to achieve the purpose of increasing sales. "

After listening to this analysis, both Wang Tao and Li Zexiang focused their attention. This is not difficult to understand, it is the effect of scale and the reduction of marginal costs.

"But just to solve these problems, DJI is still a toy for enthusiasts, or the usage scenarios are still limited, which is the key to shackle sales."

Xia Jingxing crossed his arms and looked at the two with a smile. He wanted to see if they could come up with any good ideas.