How to become a Power trader "Leopard"

6 years ago, someone had predicted, do not do 3C when it will fall out of the top three of the electricity quotient, Guoqing said both himself and the management team to accept the status quo. "The electric dealer wants every category to be strong, I do not believe," Guoqing said, "The annual study, we concluded that the strategic conclusion is that digital 3C do not touch, do not challenge Suning Gome, the other suning Gome's mobile phone, notebook computer is not to make money, is relying on everyone's electricity, small household electrical appliances to make money. "So, when the past few years have been clinging to books, clothing, mother and child, home textile and other core categories, and strive to do in these several categories in the first three, but no longer the pursuit of total sales scale."

That's true. After falling below the 4 dollar mark in March this year, when the share price began to climb up, the highest close to 12 U.S. dollars. The capital market is satisfied with the performance of the past few months. These months, when the category focused strategy, the initial results, more importantly, operational efficiency has been significantly improved. We may as well proceed to the next reading of the data.

First, an indisputable fact is that, as with other electric dealers, growth slows. Beginning of this year, the overall growth of the electricity business slowed down, more importantly, the Matthew effect amplification, that is: Giants, large companies are still growing at a high speed, but the small company's living space is shrinking rapidly. Reflected in Taobao, inside the cat is, big sellers growth is gratifying, and small shops but panic, hesitation, hesitation, panic, and reflected in Amoy system, it is the BoE still maintain a high growth rate, although the growth rate has not reached the ideal 100% (you know, they are hoping to break 100 billion).

When this year Q1, Q2 overall GMV year-on-year growth of only 47% and 52%, only passable. However, when the platform business GMV the same period of growth performance is good, Q1, Q2 respectively grew 193% and 178%. In this year's aihongbianye of the electric business industry, it is commendable.

Of course, the other side of open source, also has the margin. In addition to increased revenue, we can also see margin increases as open source. In terms of gross margin, when you're doing a good job. This year Q1, Q2, when the gross profit margin is 17.16%, 17.12% respectively. Grew 48.29% and 61.99% Year-on-year, much higher than the same period of income growth. When the most important reason for this year's margin growth is the operation of the open platform, it has cooperation with Gome online, when the store is also growing gratifying, there is the launch this year when the tail goods, the special sale channel. The operation of the open platform, reflected in the earnings, that is, "other income", which accounted for 2011, 2012, respectively, 1.86%, 3.33%, but this year Q1, Q2, this number has become 4.36%, 4.27%.

Efficiency also means that throttling. The cost structure of electric business, apart from the cost of goods, is operating costs, operations include warehousing logistics, market costs, technical costs and administrative costs. In 2012, when the stock price fell sharply, mainly is the reduction of operating efficiency, its operating cost growth rate of 53.14%, more than 43.52 of the income growth, of course, 2011, when the performance does not seem to be good, 61.1% operating costs growth rate, 58.61% of income growth. The 2012 Q4, when the pattern was a major turnaround, increased its operating costs and income, respectively, by 31.78%, 31.1%, and the two were flat, meaning that an extra dollar was spent, just to make a dollar. This year Q1, Q2, when income growth is higher than the growth in operating costs, means that when a lot of money, at least a second income.

From 2012 Q1 to 2013 Q2, when the operating costs of the growth rate, respectively, 90.77%, 72.23%, 45.35%, 31.78%, 17.12%, 17.7%, this is a perfect slide curve, when the cost control is still very ruthless, this is no wonder, Guoqing had self-deprecating said, Oneself is a steel jumps, all want to break into two flowers.

When the platform strategy begins to take off, it is also reflected in the value of the operating cost rate, if we are based on gross margin, when already from 2012, 168.82% of the year, down to 2013q1 135.11% and Q2 131.91%, that is to say, its losses have been from 68.82%, Fell to 35.11%, 31.91%, the loss of width in the shrinkage. At this rate, it is expected that 2014 Q1 will be profitable again.

Dangdang become the power of the potential of the Giants or some, but need to overcome their own, only to become a power trader "leopard."