Allen Heraver: Mobile interconnection innovation business model

The seventh annual IRIS Summit in Shanghai Kerry Center Hotel Grand opening curtain. The meeting is the 10 anniversary of the establishment of the Advisory Group, after Beijing, Guangzhou, the year after another industry event. With the theme of "Embracing change", the summit focuses on the change and innovation of the Big Data age, focuses on the trend of the new economy, analyzes the successful experience of network marketing in the past 15 years, and closely tracks the developing trend in the field of mobile Internet.

The following is a transcript of a speech by the managing director of Deutsche Bank, Allen Heraver, on the theme of "Creating a new eco-chain with mobile internet innovation business model":

(pictured by Allen Heraver, managing director, Deutsche Bank)

Allen Heraver: Ladies and gentlemen! I am Deutsche Bank Allen Heraver, and I cover Deutsche Bank's entire Asia internet telecoms and High-tech industry research and analysis.

I today and my colleague Alex to make a speech for you, Alex itself is responsible for our China Internet Business analysis coverage, if you do not recommend, I use English to do the following speech.

Industry View:

Competition for some of the Internet's core industries (such as search, display advertising, online travel, electricity dealers) intensified.

Competition forces market leaders (such as Baidu and Ctrip) to react strongly.

Most of the competition will last longer and continue to pressure margins.

Usage/size share in the short term or continue to fluctuate, but our investment theme is not based on this.