Reinventing the Millennium

Fang Zhuo has always been determined and efficient in his work.

This time I called three old friends overnight to discuss the possibility of complementarity between online B2C and offline home appliance chains.

One person is short-term, two people are long-term.

If even the strategic idea fails to work, he doesn't have to insist on acquiring Dazhong Electrical Appliances.

Like Xiong Xiaoge and Xu Xin, these two have considerable experience and vision.

As for Wang Fengyi, he was promoted from deputy general manager to general manager this year. He has full control over Shenxin Science and Technology and is now a well-known figure in the investment community.

Whether he decisively took the shares of Penguin or invested in Yike immediately, the industry admired his keen vision and cutting-edge judgment. Even Fang Zhuo called him "Mr. Wang" when he saw him.

Of course, Wang Fengyi actually prefers Mr. Fang to call him Brother Wang. He has proudly mentioned at many wine parties that Mr. Fang, Forbes's richest man in the Mainland, is always his best friend, and their friendship is always a good one.

But Wang Fengyi never agrees to requests from Mr. Fang. Well, a general manager should act like a general manager.

He has his own unique experience.

When you invest, don’t you mean investing in people at the end of the day?

If Mr. Fang hadn't wanted our company's seal, I would have put all the official seals in his office. You are just investing in others. I am the ultimate investor.

I drink, I eat, I accompany the leaders, but I am a good investor.

For example, this night, why did Mr. Fang urgently call out anyone but himself except IDG and Capital Today?

Comrades, investment vision is a kind of ability, business judgment is a kind of ability, and trust itself is also an ability.

Wang Fengyi even felt that the last one was rarer than the previous ones.

At 11:30 p.m., the discussion in the conference room came to an end temporarily. The sudden silence made Wang Fengyi, who was a little confused, suddenly startled, oh, the discussion is over.

"There is no rush for Tesco's first round of financing. Our consensus on B2C development is the key, and money is secondary."

"Actually, to be honest, I was originally thinking about the Internet, but later I suddenly realized that no matter what, the most important thing is to make Tesco successful and accelerate its development."

"Otherwise, if B2C, which is faltering in its start, has to compete with C2C, which has been developing for several years, to compete for the market, it will definitely be more difficult the later it is."

After a brief summary, Fang Zhuo said directly and neatly: "Let's go and rest on the plane tonight. Old Xiong, New Sister, I will discuss the acquisition in front of Zhang Dazhong tomorrow morning."

Xiong Xiaoge and Xu Xin both nodded. Regarding the speed of the acquisition negotiation, it may not only involve the development plan of Tesco, but also some convenient personal grudges.

At this time, Wang Fengyi also stood up and said calmly: "I'll go too."

Xiong Xiaoge and Xu Xin both looked at Wang Fengyi in surprise.

Fang Zhuo was also a little stunned: "If we don't talk about Tesco when we go to the capital, what are you going to do with us? They are also returning to the capital on the way."

Wang Fengyi said solemnly: "Maybe you need to drink."

When Fang Zhuo thought about it, it made sense: "Okay, let's go. If Kechuang has anything to do tomorrow, you can tell me on the way and don't miss your work."

"Yeah, no problem." Wang Fengyi is not worried about his company at all. As long as the general manager controls the strategy, others will naturally be taken care of. Now, Mr. Fang's actions are the biggest strategy.

The secretary books the tickets and the driver moves the car.

Before leaving, they took the documents and materials that needed to be discussed and selected the subordinates who needed to follow. The group took a business car and headed straight to the airport.

The secretary estimated the flight time and the distance to the city, and ordered a late-night snack in the middle of the flight so that he could pick it up on the way without wasting time. This way, he would not have to inconvenience the Five Zang Temple during the rush.

"Mr. Fang, I have been traveling between Beijing and Shanghai this day. Next time you should just call me for this kind of thing." Sitting in the car, Xiong Xiaoge suddenly realized that he had to go back to Beijing after working for a long time, and couldn't help complaining.

"I'm afraid that if we can't explain clearly on the phone, if there is any disagreement or the tone of voice is wrong, you hang up the phone again." Fang Zhuo said seriously, "You can rest assured when we talk about this kind of thing in person, and I can rest assured too."

Xiong Xiaoge held the steaming soy milk he ordered and asked, "Go straight to the capital to get a channel for chain electrical appliances. Mr. Fang, how did Mr. Huang offend you?"

Wang Fengyi and Xu Xin both pricked up their ears, it was so rare to hear such first-hand gossip.

"It's not about offending or offending, it's just a matter of convenience. Changhong's Lao Ni and Mr. Ni, they need to digest products and launch LCDs. Our e-commerce business is also in this category." Fang Zhuo said calmly, " I help Mr. Huang, and Mr. Huang won’t thank me even a word. I help Lao Ni. Changhong can work with Ice Core to increase production capacity. What do you think I should choose?”

No choice.

No choice at all.

Fang Zhuo continued: "I have talked a lot with Lao Ni, and I still remember the competition that Changhong once had. Lao Ni said at that time, 'Market competition does not believe in tears.' Hey, I think this is so cold and realistic. , just like when I first started running a registration website, a school teacher who went to Shanghai also personally taught me the truth, business competition is ruthless."

"Whether you think it's a personal grudge or a business competition, in fact it's not important at all. Just do things and push forward."

Involving ice cores.

Xiong Xiaoge's position was undoubtedly on this side, but he still sighed in his heart, what did Mr. Ni, the old senior, teach Mr. Fang?

We can’t teach it anymore, we really can’t teach it anymore!

Commercial vehicles speed through the city late at night.

At one o'clock in the morning, the flight from Shanghai to Beijing carried a group of people to the negotiation table of Dazhong Electrical Appliances.

December 18, 8:30 am.

Zhang Dazhong, the head of Dazhong Electrical Appliances, felt as if he was dreaming when he looked at the negotiation team in front of him.

Suddenly someone called at night and said that Mr. Fang from Yike wanted to talk about the sale of Dazhong Electrical Appliances.

If it weren't for the mention of the richest man in the Mainland, Zhang Dazhong would almost curse on the phone. Who said that Dazhong Electric Appliances was going to be sold?

By morning, Mr. Fang from Yike had already arrived for a formal interview.

Zhang Dazhong felt that if this was not his dream, then the other party was dreaming. Dazhong Electric had worked so hard to establish and grow until now, so how could it be sold to the other party?

The stiff pleasantries are over and the buyer gets straight to the point.

"Gome, 227 stores, Suning, 193 stores."

"Yongle, 108, Sanlian, 254, Five Stars, 120."

"Mr. Zhang, there are many chain electrical appliance companies in the country. The number of stores of these five companies far exceeds that of Dazhong. The five-star appliances with the lowest sales are at least 1.5 times that of Dazhong. The competition faced by Dazhong is not unsevere."

Now that Xiong Xiaoge is here, he will play his role and use data to explain the situation of Dazhong Electrical Appliances.

"Suning and Gome were successfully listed this year, and next year they will have the capital to expand their stores on a large scale."

"Yongle Electric has made clear its listing plan for next year, which will inevitably intensify competition. There is also Five Star. They said they will list overseas."

"Mr. Zhang and Mr. Huang of Gome personally told the media that Gome does not rule out using large-scale mergers and acquisitions to integrate the market in the future. This statement already shows determination."

Now that Xu Xin is here, he will play a role. When he mentions the trend of the chain electrical appliance market, capital begins to enter the market. That is bloody and cruel competition. The big fish will definitely eat the small fish. There is no other possibility.

"Mr. Fang, coffee."

Now that Wang Fengyi is here, he plays his role and puts the brewed coffee in front of Mr. Fang.

Zhang Dazhong, the head of Dazhong Electrical Appliances, had no expression, making it difficult to tell what he was thinking.

Fang Zhuo took a sip of coffee: "Mr. Zhang, my trip may be a bit abrupt, but Mr. Zhang doesn't have to doubt my sincerity, otherwise I wouldn't have invited you here so early in the morning. The domestic electrical appliance chain market has changed. At this time, you need capital to play better.”

"We at Yike are very interested in the operation and after-sales service of Dazhong Electrical Appliances. If possible, it will be a part of Yike's learning."

"The reason why I put Dazhong Electrical Appliances in the first place I see is because I have a good impression of Dazhong Electrical Appliances."

Zhang Dazhong's expression finally changed: "Good impression? Where does Mr. Fang's favorable impression come from?"

"I have been to Dazhong Audio Equipment City on Yuquan Road in Beijing several times." Fang Zhuo said with a smile, "Last year, I came to see the market and channels of Yike products in Beijing, and I walked around at will. At that time, I went to Yuquan The way to go is definitely into Dazhong Audio Equipment City.”

Zhang Dazhong nodded slightly, this is a large and conspicuous store.

"I am deeply impressed by the enthusiastic service of this store. Our products are also selling very well there. If I remember correctly, Yike's MP3 is still No. 1 in this category in Dazhong Audio Equipment City, right?" Fang Zhuo asked.

Zhang Dazhong shook his head honestly: "I don't know this, but Yike's MP3 has always been very popular, I know this."

"Mr. Zhang, let's not talk about the price. Let's first talk about whether you have this intention. If not, Mr. Xiong, Mr. Xu, Mr. Wang and I won't waste any more words." Fang Zhuo said untruthfully, "We will do this this afternoon. I made an appointment with Five Stars, who wanted to list it overseas, and I happened to know a lot of friends in the United States who could help."

Zhang Dazhong pondered.

After a while, he said: "Mr. Fang, to be honest, I'm still confused. If it were you, how would you feel if someone wanted to buy Yike when you woke up?"

Fang Zhuo smiled slightly: "I will see if the right person brings the right price."

Zhang Dazhong asked: "What does it mean to be a right person?"

Fang Zhuo replied: "I am someone who can promise to still delegate the management of the company to me."

Zhang Dazhong was silent for a few seconds and then asked: "What is the right price?"

Fang Zhuo replied again: "The price can make my heart skip a beat."

Zhang Dazhong was stunned, but he was curious about the price figure, and remained silent for a few seconds: "What is the correct price that Mr. Fang brought?"

Xiong Xiaoge and Xu Xin looked at each other. It seemed that Mr. Zhang did not insist on holding Dazhong Electrical Appliances into the future.

In fact, this situation is expected.

During this night of running around, the four presidents flew from Shanghai to Beijing, and the people below were also busy collecting more detailed information about large and medium-sized electrical appliances and conducting various possible studies and judgments.

In the two years from 2002 to this year, Dazhong Electrical Appliances has developed rapidly, from regional to national level, but it has also encountered some inevitable problems. Internal decision-making and external situations have brought great challenges to Zhang Dazhong, who is nearly 60 years old. A lot of pressure.

According to the figures released last year and the assessment of this year's situation, it is unlikely that Dazhong Electric's annual sales will exceed the 7 billion mark, and the net profit may be only a little over 100 million.

Gome entered the Beijing chain appliance market four years later than Dazhong, but Gome's scale here soon approached that of Dazhong.

In particular, its performance after its listing this year makes it even more difficult to be optimistic about the competitiveness of the overall market.

Once the big players have capital, the gap between them will widen.

In the morning, the IDG and Yike teams worked overtime to synthesize all information and came up with a price range of 2.0-2.5 billion, which is US$240-300 million, which is acceptable to Yike, a Nasdaq-listed company. purchase price.

When it comes to money, Fang Zhuo also has to be cautious. Although this is still a rough negotiation, if you want to have a follow-up, you must first reach a certain rough consensus.

He took another sip of coffee and said succinctly: "2 billion."

Zhang Da's heart just jumped slightly, and he didn't think it was the kind of jump that Mr. Fang just said.

"Mr. Zhang, don't you think something is right?" Fang Zhuo observed the expression on the other side.

Zhang Dazhong thought about his explanation.

"2.4 billion." Fang Zhuo directly quoted another price, "This is our investment budget for Five Star Electric Appliances, and it is also the upper limit price for Dazhong. If Dazhong is not satisfied, it may be that Dazhong has met the right person but failed to do so. Bringing the right price.”

In the blink of an eye, it went from 20 to 2.4 billion.

The purchase price is more than a slight jump.

But it makes no sense to say that my heart is pounding.

Zhang Dazhong breathed out: "Mr. Fang, at my age, I think slowly. You came to the door so suddenly, and it was really hard for me to... hard to think."

"Of course it is understandable. If Dazhong Electric is willing to sit at the negotiating table, we can also discuss more operating conditions in the future. Price alone is not the only factor." Fang Zhuo said, "Under the same value, cash or cash + stocks All methods can be discussed.”

He continued: "Accordingly, our acquirer also needs necessary review. If Mr. Zhang has this intention, we will have a good discussion, and Dazhong Electrical Appliances will not need to make major decisions in the near future."

Zhang Dazhong suddenly felt something in his heart. This "major decision" sounds quite routine, but...

He suddenly thought of some rumors about cooperative brands. He had not taken them seriously before, but they may not be credible now.

But if you say that the other party came to acquire Dazhong Electrical Appliances because of this, it would be too disrespectful to regard money as money.

Zhang Dazhong was distracted. When he came back to his senses, he looked at the close associate vice presidents on his left and right. Finally, he nodded and said, "Mr. Fang, we can talk again."

…

Skyworth encountered unexpected situations and attracted a lot of media attention.

However, from the interview responses to the official website information to the high-level press conference, as well as Skyworth's comfort to the channels and the support of the four major electrical appliance retailers, it is difficult not to praise Skyworth's calm response in the face of crisis.

In the nearly 48 hours since the incident to the morning of the 18th, some media called Skyworth’s response a textbook golden 48 hours of crisis public relations.

At noon that day, Skyworth's working team responsible for connecting with channel providers also arrived at the headquarters of several important partners, intending to implement the large-scale commercial purchase and sales agreements previously agreed to by the other parties.

At almost the same time, Changhong’s team finally arrived in the capital under the leadership of its leader Ni Runfeng.