Reinventing the Millennium

July 29, Monday, Hong Kong stocks.

Due to the Penguin institutional shareholder Shenxin Kechuang’s announcement on reducing its holdings last Friday, as well as public opinions concerning Penguin appearing on the Internet, and the plan of competitor Weibo...

Penguin shares opened lower and fluctuated during the session, but the decline narrowed in the afternoon and finally closed at HK$98.5, down slightly by 0.62% throughout the day.

According to financial observers, the confidence of investors has not been significantly affected. Penguin's overall recent trend is relatively strong and is expected to continue its upward trend.

Penguin’s share price is HK$98.5, which is a market value of HK$173.3 billion. When converted into US dollars, the market value is US$22.3 billion.

At the same time, the other three YBAT giants, Yike in the US stock market, have a market value of US$38.9 billion, Baidu in the US stock market has a market value of US$21.8 billion, and Alibaba in the Hong Kong stock market is significantly behind, with a market value of only US$11.3 billion.

However, everyone knows that Alibaba is only listed on the B2B business in Xiangjiang. Today, C2C Taobao, which accounts for a higher proportion, is unlisted and will definitely enter the secondary market in the future.

Penguin is in very good shape. The uproar of public opinion brought about by Zhihu, Weibo and portal websites has no real effect, so it has been stopped and gradually subsided.

It’s hard for Wang Fengyi to explain his regretful and complex mentality. Well, giants like Penguin do have a solid foundation. According to this momentum, the market value may exceed US$30 billion this year.

I don’t know whether the investment income from the shareholding reduction of Shenxin Science and Technology this time can keep up with Penguin’s growth rate.

Although Wang Fengyi has made a collective decision within the company, he will still bear a large responsibility for making the decision this time. After all, this is an extremely important asset disposal for Shenxin Technology.

Taking responsibility and not taking responsibility are two different mentalities. Therefore, Wang Fengyi pays special attention to the trends of domestic smartphones these days, and is also particularly concerned about the PP software on his mobile phone.

In addition, he received instructions from Mr. Fang, intentionally or unintentionally, that the money invested by Shenxin Science and Technology in "Mi Tuan" should be used in the name of funds obtained from reducing Penguin shares.

Wang Fengyi smacked the taste. Does it mean that Mr. Fang is very optimistic about the future development of Mi Tuan? Do you want to be sure of your own operations?

However, the income from the shares purchased by Shenxin Kechuang before Penguin went public is already more than 180 times calculated at this point in time. Can a model like Mi Tuan, which has not yet been verified in the domestic market, have such great potential?

Wang Fengyi listened to many of the ideas of entrepreneur Lei Jun with an inquiring attitude, but he also adhered to his role and never talked nonsense or made random suggestions. He only expressed confidence if he had to say something.

In addition, he also asked the team to conduct industry research and conduct forward-looking analysis.

Be willing to invest money, listen more, talk less, and give confidence.

Lei Jun, who was busy building a team, had more contact with the general manager of Shenxin Science and Technology, and suddenly realized that the rumors were wrong. Although Mr. Wang laughed and cursed, he had the demeanor of an investment boss.

On August 3, Wang Fengyi’s sudden enthusiasm for the group buying model faded a little. Coinciding with the launch of a new Android phone by Kesheng founded by Ni Runfeng, he thought of calling Mr. Fang and went to Yike to listen together. Listen to the press conference and ask for some investment strategies on the project track.

However, as soon as the call was connected, Mr. Fang said that he was attending a semiconductor industry symposium led by Shen Cheng, but he couldn't get away.

"There's nothing to see. I have Lao Ni's Kesheng mobile phone in the drawer in my office. If you want to try it out, I'll have one delivered to you this afternoon."

"Actually, it's nothing new. I don't think it's mature, but the profit may be greater than that of Meizu and Hanwang. It uses all the parts that can be used in China, and the cheapest ones within the range."

"Okay, let's put it this way, I'm entering the conference room. I have to be busy with the ice core recently."

Wang Fengyi listened to Mr. Fang's simple evaluation and wondered what another mobile phone targeting entry-level Android would look like.

As a result, he watched the whole scene and found that it was exactly what Mr. Fang said... Today's smartphones are mostly based on the M series because of the popularity of Yike. Products such as Meizu and Hanwang have glass backs, but Yike's products have glass backs. It's German glass, and these two are domestically produced glass, so the cost difference is only 100 yuan.

But Kesheng is different. It does not claim to have any quality. It directly uses domestic engineering plastics, which further reduces costs, including screens, batteries, etc.

The domestically produced alternative parts cultivated by Yike + MediaTek's more mature chip solutions + spontaneously emerging parts manufacturers are finally the Android entry-level phones produced by veteran Ni Runfeng.

What kind of glass do you want? Engineering plastics can’t be used?

The pixels are enough, the speakers are enough for listening, and the screen is smaller than many phones from Nokia and Samsung on the market.

Kesheng’s price is set at 1,899 yuan, but it comes with a bunch of freebies such as headphones, power banks, and stickers. The advanced version, which is obviously more cost-effective, is also cheaper than other domestic manufacturers.

Wang Fengyi wondered whether Ni Runfeng's Kesheng didn't need to invest any R\u0026D budget at all, and whether it even used YMS's ecological solutions.

In addition, Keshenglian has very few offline brand stores and ships purely through the e-commerce platform.

What should I do if something goes wrong?

Kesheng cooperates with Tesco to carry out warranty. You can pick up the product at your door and guarantee return and repair.

After Wang Fengyi got the Kesheng mobile phone later, he felt that the product created by Mr. Ni was like a high-quality copycat phone, and it was a veritable entry-level entry-level phone.

He knew that Mr. Ni and Mr. Fang had a good relationship, and he suspected that this assembly idea came from Mr. Fang. In other words, the idea of ​​reducing costs in this way was originally something that Yike wanted to do on his own, but gave up because of brand value considerations.

Otherwise, why would Yike cultivate domestic parts manufacturers? Otherwise, why would Bingxin cooperate with MediaTek to provide chip solutions?

Wang Fengyi bases himself on the present, looks forward to planning and backward to development, and feels that there are gains in investment.

…

Time has entered August, and the Internet industry is still dissatisfied with its overlord. Lei Jun’s Mi Tuan.com is about to be launched. Domestic Android camp manufacturers are springing up. All aspects of the YMS ecosystem are advancing one by one. For Yike, the adjusted company structure We also have to face an important test.

Yixin has been confirmed to be launched on September 30, which means that Yixin's YMS ecosystem will make up for what is almost the most critical link - mobile communications.

It also means that the biggest competition between giants this year will be Yike and Penguin. Others, such as Baidu and Sogou, Taobao and Tesco, one is PC and mobile, the other is C2C and B2C, will all succumb here. under.

After all, everyone knows that communications business is Penguin’s core foundation.

Not only the Yixin team and the YMS team, but also Fang Zhuo himself was slightly excited when he thought about this competition. While he was paying attention to internal promotion strategies, he was also providing external resources as much as possible.

As many financial institutions in the United States were sued by the SEC last month, Yike's financial crisis was basically eliminated, and patent negotiations with Nokia were restarted to consider the launch of Yike's Symbian system.

However, unlike the last time when Nokia executives came to apply and were rejected, this time there seemed to be an internal situation there, and even the negotiating executives were changed twice.

Yu Hong, who has returned to the United States, personally participated in the negotiations and came to a simple conclusion: Nokia's decline in the second quarter of this year completely panicked some of its internal staff.

The new Symbian touch-screen phone launched by Nokia despite infringement did not have the immediate effect as expected, and even did not stop the decline.

According to statistics from the well-known organization IDC, Nokia's smartphone shipments in the United States in the second quarter have dropped to 32%. Although it is still the number one manufacturer, the 10-point quarter-on-quarter drop is a waterloo.

More importantly, the Android camp has rushed to second place. Smartphone sales including Yike, Samsung, HTC and other brands accounted for 29.3%, which is very close to Nokia's Symbian.

Nokia is falling and Android is rising. According to this ebb and flow rate that surprises everyone, the number one spot in smartphone system shipments in the third quarter will change hands.

Once it changes hands, can Nokia still climb up the ladder?

Industry observers are not optimistic.

This caused dissatisfaction with Simons within Nokia. The current CEO Simons was formerly the CFO. Perhaps, with such a background, he is not a good leader to lead the company forward.

As for what kind of good leader can eliminate stubborn diseases, reverse decline and restore growth in just a few months...

The US "Business Weekly" also noticed the internal sentiments from Nokia sources, and jokingly gave a suggestion: We have an excellent candidate to recommend. His business operations last year were widely praised around the world, and he also knows mobile phone products extremely well. , and is particularly concerned about Nokia, that is Fang Zhuo, the second best president in the world. If Simons can't do it, why not ask Fang Zhuo to try?

Nokia ignored such advice.

However, some European media responded remotely: Fang Zhuo may not be able to do it. He seems to be very worried about the retaliation from many hedge funds in the United States. Now he cannot leave China or work at Nokia.

This response did not end the competition, and some American media continued the exchange: That is a pity. I am afraid that by the time Fang Zhuo is willing to leave China, he will no longer be able to find the Nokia brand.

Such exchanges made Fang Zhuo happy, but even if someone called him on Twitter, he did not respond.

What's the response? Nokia didn't send me an invitation either.

Anyway, Simmons seems to be in an unstable position, and I wonder if the next Nokia leader is already around.

On August 5, Fang Zhuo welcomed the leader's inspection of the Third Ice Core Factory in Shanghai. This time, not only Qiu Ciyun was present, but Liang Mengsong was also called over from Luzhou.

Under normal circumstances, Fang Zhuo is not willing to disturb Dr. Liang, but... when it is out of specification, he can also ask Dr. Liang to get familiar with his face.

The leaders walked around the factory area, and the ice core trio of Fang Zhuo, Qiu Ciyun, and Liang Mengsong answered questions in an orderly manner.

In fact, according to Fang Zhuo’s many exchanges with different leaders, everyone supports semiconductors, but the reality is objective and the competition is severe. Bingxin has received almost full support. It is very gratifying to have reached this point. .

"Ice core is developing very fast, and we are all very happy, including some retired leaders. Every time we talk about ice core, the smile on our face comes." The leader stopped and looked at the outline of the third factory.

Liang Mengsong replied: "Actually, it's not bad. This is the normal speed of development. The further you go, the more difficult it becomes."

The leader was a little surprised.

"If it is a regular unrestricted environment, as Dr. Liang said, the ice core speed is actually the former core speed." Fang Zhuo explained, "If others have it, we can buy it. Although the starting point is low, the pursuit will be very fast. Come on, it’s just that the country is in an unconventional situation.”

Within a few years of its founding, SMIC has become one of the top ten foundries in the world under the leadership of Zhang Rujing. In terms of process technology alone, the gap between it and Taiwanese has been narrowed to more than one generation.

In almost 2004, SMIC was in mass production of 130nm and trial production of 110nm, while Taiji was in mass production of 90nm chips.

Zhang Rujing is confident that the process gap will be caught up in the next few years. Then there will be the well-known lawsuits of several years and the advancement brought by the immersion lithography process.

In the same way, Bingxin is now catching up to a position that is more than a generation behind. This is driven by technological masters such as Liang Mengsong and Hu Zhengming, as well as the capital investment of Fangzhuo United Ventures, the policy support of upper and lower administrations, and the support of the mainland market. Development, but looking back at history from this factory, this is just another pursuit of the mainland's foundry companies after restrictions were removed.

The leader was silent.

When Fang Zhuo saw this, he continued: "I'm just afraid that if someone else has it but is unwilling to sell it, or if he is willing to sell it but someone won't let him sell it, the ice core's pursuit will be delayed."

Ice core is just a foundry link in the semiconductor chain, and this chain itself is based on the global industrial division of labor.

It is one thing to catch up in the OEM sector, but the lagging behind of the overall industry is a bigger problem.

The leader nodded after a moment: "It is right to have this concern. The domestic industry has just begun to show good signs of development, but traveling a thousand miles cannot be achieved in a day. We still have to work together."

Fang Zhuo did not continue to talk about this topic, and instead introduced the significance of the development of ice core to Yike mobile phone products. The third factory in Shencheng is Sony's sensor production line, which is a good example of upstream and downstream integration.

I don’t know whether it was planned in advance or the communication at the factory was effective. After the inspection on this day, on the second day alone, the big fund determined a communication mechanism with the wafer service alliance, focusing on studying and judging all links of the domestic industry chain. development opportunities.

Fang Zhuo is a real person.

After two phone calls, he said very directly: "There are opportunities in every aspect. We have discussed it before, but we have to pay more."

The leader of the big fund laughed, and the only reply on the phone was to try harder.

Ice core is on the right track, but the development environment is a hidden danger, no, it is an obvious danger. Fortunately, from the current point of view, it should still be able to achieve a period of smooth development.

Fang Zhuo communicated with Qiu Ciyun for two days, with an idea of ​​change and response in mind, and considering the forward-looking development strategy for a certain period of time.

But just as he was pondering how the ice core could be moved around, a new war broke out on the Internet.

On August 16, Penguin launched version 3.2 of QQ Doctor. The interface and functions are very similar to 360.

There was noisy public opinion at the end of last month, there was just the announcement of Shenxin Science and Technology's shareholding reduction, and there was even Wang Fengyi's example using 360. It was only half a month later that Penguin entered the field of network security with similar methods.

Zhou Hongyi from 360 was shocked and angry.

The Internet suddenly became lively again, Penguin, it’s you again.