"Beautiful group always is far from go bankrupt to have 6 months time only. "Beautiful group always is far from go bankrupt to have 6 months time only..
Wang Xing is in in-house speech by 2013, use again " crisis consciousness " rap stuff, and to complete member establish next lofty ideal: Want to become the company of new the first a group of people of same interest.
When those, beautiful round course struggles one year, took the group of more than 50% to buy market share, in hotel industry just " the inadvertently Liu Chengyin that insert willow " , "Ticket of every 8 pieces of movies has 1 piece is to pass what beautiful group sells " , just entered Popular feeling ran high outside sell business... " O2O " it is the most popular at that time Internet vocabulary, no matter be Internet tycoon, still be like 10 thousand amount to such traditional business tycoon, kill in succession into O2O domain.
4 years many past, behead falls masses of shake handshandle net, annex is commented on, had suppressed hunger, contend carry Cheng, beautiful group already became the life that is without controversy to serve kind of cable business gigantic without bully, compatriots " idle away in seeking pleasure lives row " more comprehensive ground wraps inclose. "Booth shop gets too big what to want to work " once was media and investment the doubt with common to Wang Xing people, and this one doubt one face about serves as nowadays " zoology story " overmeasure value is obtained on 2 class market.
On September 20, beautiful group is commented on land harbor formally to reach place, the Hong Kong after becoming afterwards millet the 2nd " be the same as a different advantageous position " IPO, up to closing quotation, relatively price of IPO of 69 HK dollar rises 5.29% , sign up for 72.65 HK dollar, market prise is close 400 billion HK dollar (add up to 50.8 billion dollar about) , surmount Beijing east (38.9 billion dollar) , millet (47.4 billion dollar) , become the China that is next to BAT company of the 4th big Internet. Deduct relevant after issueing expenditure, beautiful round IPO adds up to collect capital 32.56 billion HK dollar (add up to 4.15 billion dollar about)
Comment of bovine article article says president of poineering a dark horse, beautiful group is the most significant in perhaps saying IPO one round this this year. It is market prise not merely, also just did not grow, advocate if Wang Xing is representing brand-new generation industry leader,come on stage. This generation is born at mobile Internet directly, understand Chinese mobile aborigines truly, understand and on direct service 100 million " user paying fee " and it is only no longer " discharge " , understand " outside 5 annulus " broad China. When the business that does baronial immensity group dreams, their heart is full of the force of belief, clean, direct, dauntless, what cannot see " ruse " and " original sin " shadow. They are true grown below BAT shadow but have truly fearless generation.
Do poineering work 8 years however, the money of beautiful group signs up for all the time deficit. Comment on computation of book of raise capital by floating shares according to beautiful group, deduct can change but redemptive and preferential an evenhanded value is fluctuant the accumulative total loss that cause, beautiful graph comments on 8 years to manage deficit of sexual accumulative total to even more 30 billion. With Beijing east same, allege repeatedly the cash that oneself are Yamaxun flows - the beauty of outspread mode is round, be worth so high estimate to be worth really?
By what appraise be worth 400 billion HK dollar?
Beautiful group will be finished last year in October value of the appraise when round of financing restrains 31.4 billion dollar recently, go only 10 months, at present appraise is worth more than 50 billion dollar, appraise value promotes 80% above.
From appear on the market in light of subscribe circumstance, above all Tecent (beauty of the hold before this is round 20% share) threw the foundation stone of 400 million, the capital of line of sea minister of foreign affairs such as Oppenheimer, Lansdowne is right also its very chase after hold in both hands, visible sth used to one's own advantage is long-term to beautiful group of value value. Gao Cheng comes out to give out before this appraise is worth 57 billion dollar, appraise is worth Magenshili 580 dollars,
Zhang Lei of author of tall Ling capital expresses, the business dilate of beautiful group, open border develop land, look be like marksmanship of Xiang Yu the Conqueror, leave to close greatly greatly, let a person hard classify, have no way is right mark. But value the company that beautiful group has old structure viewpoint of value this kind for a long time. Wang Xing is to insist to ponder over a problem with primary principle all the time actually, beautiful round all without exception is cutting a domain to promote efficiency for place, create value for the user. Shen Napeng of virgin copartner of China of Chinese larch capital is written civil say, raise the quota supports beautiful group " the likelihood is the most important decision in investing course ten years " .
Hit out everywhere in different domain return triumph of can big range, "Immensity bound " beautiful group told an Orphean story to capital market. Contrast is made desperately " Internet company " the millet of fixed position, still obtain coequal appraise value in the beautiful group of deficit, it is the capital market clear proof to Internet company preference.
In " 9 be defeated to be gotten the better of " author Li Zhigang looks, beautiful group does although be a few " chicken ribs " business, but string became together " fat " . Its " T " word business strategy is more afflictive to the company of a few perpendicular domains.
Ground of enough rodomontade of shellfish Zun Sineng offers a piece of advice investor need not count on a company short-term inside implementation gain, it is Yamaxun's driving cash grades performance rear. Same " without border " Yamaxun's current city is filled with rate be as high as 160 times, besides electric business, cloud service is to become a company more most the business that make money, in intelligent AI, household the domain also is in an industry to lead a position, return sortie content to be achieved formerly distribute, domain of medical treatment health.
Contrast observation beauty is round, cash shedding is enough, up to on April 30, the cash of beautiful group and cash equivalent are 26.27 billion yuan, relatively end increased 6.86 billion yuan 2017; Still be in gigantic deficient, beautiful group is in 2015, 2016, 2017 and end 2017, before 2018 April classics net specified number of the deficit after adjusting is respectively 5.9 billion, 5.4 billion, 2.9 billion, 300 million and 2 billion yuan. Notable is, at present level should realize gain difficulty very big, and the brunt business that can contribute cash to flow has the worry that enters bottleneck period however. Up to before 2018 4 months, beautiful group realizes business income fifteen billion eight hundred and twenty-four million yuan, more than annual did business 2016 income 13 billion yuan, adjacent annual did business 2017 income 33.9 billion yuan half. The income of beautiful group basically comes from outside meal sell, to etc of inn and wine brigade, new business 3 parts, the proportion that each business holds gross earnings is respectively 61.2% , 27.5% , 11.3% .
The group is bought (to inn) business, beautiful group had held the market share of 80% , but pare be gone to by amalgamative calculative in book of raise capital by floating shares inn and hotel, the group buys business GMV to began to feel the ceiling 2016, q4 is added fast had fallen to 2% .
And sell outside current brunt business, although beautiful group has had the market share that exceeds an in part, but the industry competes special astringent. The denounce in A endowment 9.5 billion dollar bought next hunger, as integrated as public praise, this opponent is very formidable, and do not lack cash, it is not quite feasible that beautiful round light relies on money to want to enlarge market share.
Present GMV is in beautiful group this 360 billion levels, contrast index of data of file of the financing before a beautiful group that media reports is early, beautiful round plan GMV was accomplished 2017 750 billion the left and right sides, adjacent 2019 -1454759936, but beautiful group is current the GMV level of 360 billion is far anticipated under set 2017.
Although beautiful group is in book of raise capital by floating shares data of cite moxa luck, outspread to whole market dimensions confidence is dye-in-the-wood, but outer sell a field (China and foreign countries of cost of beautiful round sale sells caballero cost to occupy than 69.37% ) , stare at closely in the adversary of eye covetously below, it is very difficult that GMV and profit appear both hold concurrently. From raise only settle or live in a strange place to change to leading a hand now, the possibility is a few realer. Beautiful group is going in carry out at present this one train of thought, the wool interest rate that deserves to send professional work when shortly by 2016 7.7% increase
Beautiful group is in those who go out to go up all right in a large-scale layout begins from 2017, the professional work of 4 big pillar that gives to be promoted to be a company first all right (to inn, excellent, journey, piece row) one of. Though have,fill a logic of zoology, dan Jiju arrange is group is in the beauty go to sea make below the background that did not lack new GMV business noise, urgently, kill already smoke of gunpowder falls decided net makes an appointment with car domain to appear a little brash. Stem from policy and capital consideration, right now the decision extends the net that burns money to make an appointment with car business to also be no longer should break break.
And 15.5 billion buy rub do obeisance to trade whether be to one's profit up to now still vexed. Gigantic deficient under again heavy gold is bought rub the asset that do obeisance to and indebted, income can support operation cost only and cannot enclothe depreciation, hair loss is severe; Moreover, the capital that makes the United States round becomes heavier, give what linage occupies pair of whole systems to be contributed in coordination first no matter, more the profit margin that has reduced beautiful group ceaselessly is pulled once more low.
Beautiful group in recent years deficit closes quickly narrow, the report of beautiful Yin Meilin is forecasted, beautiful group outstanding achievement is OK 2020 make up the deficits and get surpluses, press computation of general accounting standard, net profit will achieve 8.9 billion yuan of RMB, city is filled with rate about 35 times to 41 times.
Another props up what beautiful round overmeasure is worth is Tecent do not leave do not abandon. "Tecent department " beautiful group is exclusive the tripartite that there are 3 entries in small letter purse.
From the point of company point of view, the adversary of beautiful group remains A basically only in. But the argue that serves electric business with life of the department in A already was not before norms of 100 round big fight, this is a regular army between than going all out, more the strategic chime of whole group is the same as test ability. Beautiful group should obtain higher appraise cost, need surpasses A in life service territory in, obtain space of higher negotiate a price. 2013, wang Xingceng puts forward beautiful round GMV to wanted to exceed -727379968 2020. Broke through 2017 360 billion, from ambitious -727379968 goals remnant is less than 3 years of time.
The zoology story of beautiful group should continue to tell, must build a dominant position in its zoology productivity respect, avoid to reduce " big and not strong " .
Where is the opportunity of the second half?
Book of beautiful round raise capital by floating shares shows, the biggest source in beautiful round income is commission form, and the main source of commission is outer still sell the market (advocate if carry collection middleman's fee to B) , occupied 70% above, remaining ability is wait for business to inn.
No matter be outside sell, going out still is new all right retail, it is durative expensive devoted professional work, need seasonable compensatory ammunition. To beautiful group character, want to obtain a better appraise value, need is outer the rig that sells share of market of the implementation on business of this one opposite core to go up, improve its balance sheet, build steady commercial pattern around its; Perhaps move from business of potential innovation sex, develop a new business that fills imaginary space.
But book of raise capital by floating shares is less to the data exposure of new business.
In the book of raise capital by floating shares that replaces edition, before business of mysterious all the time beautiful round banking opened veil: The loan that beautiful group begins to offer To B and To C from 2016 serves, end on April 30, 2018, wait for in what beautiful group comments on platform to go up receive remaining sum to be 2.092 billion yuan about. But this part business can get " cash is borrowed " the great influence that waits for policy to change.
Beautiful group takes below tripartite to pay license tag, make pay aggregate system, it is hasten of general trends place, gather data through paying, roll out derive a service, form zoology closed circuit, also drop pair of exterior channel at the same time depend on and cost expenses. For whole, the battalion of financial product and service receives contribution very finite still, but of future can imagine the space is not little. With Beijing east to consult, in 8 million business door the Beijing with the hatch in market of 400 million user east battalion received finance 2017 exceed one billion four hundred and ten million and sixty-five thousand four hundred and eight yuan, appraise is worth more than 130 billion yuan.
In the new business of beautiful group, group having the beauty shines buy the new retail position that lays delicacy with small elephant. These two business also are direct with A Lizheng the face competes, the tycoon such as Su Ning also is trying, but too big distinction is done not have in real operation, and the sign that still sees dimensions changes battalion to close hard at present.
But review beautiful group before the means that much battle line hits out, had user data, pay wait for infrastructure, can learn quickly and get through arrives a new industry. Because this looks in many people, beautiful group issues content fluid to fasten support to fall in powerful line, business sells outside sending what be not meal showpiece, it is to walk along meal to supply catenary upper reaches even, walk along the platform of B2B from B2C, give business door to offer a solution, probable it is a new broad market.
In fact, beautiful group had 2016 " fast ass " business, will with hunger flames of war lights B end; Second half of the year rolled out meal to open platform last year, with ERP (Enterprise Resource Planning) service business cooperates, issue business door to offer those who be based on zoology for the line, the integral solution of entire chain, drive promotion of efficiency of meal course of study. Data shows first half of the year, the meal that already software of nearly 200 meal serves business to join beautiful group to comment on opens platform. But look on whole, do not have the business that here the domain does very outstandingly at present. New retail observer tells an elder small amusement, business door is supplying what value on chain business is the price, whose petty gain chooses who, spend without faithfulness.
And the market structure that beautiful group did not satisfy now, raise the price of the commodities once more this year B2B business. On March 17, beautiful group is commented on the group associates before announcing to appoint old Xu Dong holds the position of executive vice-president of senior vice president, whole world of group of before 3 afterbirth beautiful group comments on a group senior vice president, responsible big retail cause group B2B career ministry.
Beautiful group comments on article of Wang Hui of meal platform president to had made a very wonderful presentation last year, he thinks, a lot of companies can die, leave an opportunity supplying catenary and 2B. Adopt Internet science and technology, drive service line of business to take the lead in accomplishing supply side reform. And this also is current almost a consensus of the market, chinese lipstick benefit is broken gradually, the Internet product of 10 years of 2C consumed the individual the market, behavior to be transformed thoroughly in the past, the requirement that the enterprise carries also produces revulsion, the enterprise should reduce cost, improve efficiency, the market that the enterprise serves is capacious La Hai. The most apparent token is, chinese company is right SaaS more and more approbate, a lot of enterprises in succession " go up the cloud " .
The Oracle in Euramerican enterprise, SAP and add up to of Home Salesforce3 market prise restrain 450 billion dollar, had measured level in with Google and Facebook, and the form that company level of home serves the market to still cannot see a tycoon. Have media coverage, tecent is undertaking the largest section is adjusted coming for years, 2B and 2G business will be amalgamative, because,be of 2C " bushfighting " be hit, should begin to hit camp and moat battle of louder 2B business position, 2B and 2G business ability let Tecent defend triumphal fructification.
This also is the opportunity of beautiful group. The hand grasps the resource of 4.7 million businessmen, it can be done not only supply chain, still can infiltrate meal SaaS serves. The Li Zhigang that studies beautiful group according to dogging for years discloses in an interview, this year March, beautiful group held water " B2B supplies catenary career ministry " , after 2 months, be in one ground of Nanjing only, the month trades the specified number is lousy 100 million.
Book of raise capital by floating shares shows, beautiful group is commented on is offer comprehensive solution to the businessman, include fine tool of accurate online sale, deserve to send infrastructure, and system of ERP of high in the clouds, group pays the system, life that supplies catenary and financial solution platform of service electron business affairs.
Beautiful group has begun from ego fixed position to 2B business sailing. The beauty of double round drive is round, can pare the ceiling probably to taller.
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Outspread discussion
Did you choose beautiful group or hunger?
