Lei said the 4 billion dollar value of millet is not related to sales

Millet Company CEO Lei June 26, Millet Company announced, successfully financing 216 million dollars. Then Millet company Chairman and CEO Lei accepted this reporter interview, said: Millet mobile phone This round valuation 4 billion U.S. dollars. But Lei did not disclose investors: the investment agreement is not disclosed. Earlier, Reuters had reported that millet this round by the investment in Facebook, the Russian DST group. Entrepreneurship two years, 4 billion U.S. dollar valuation, millet refresh the growth rate of Chinese internet companies. Prior to the end of 2010, millet Company completed a round of financing, the amount of 41 million U.S. dollars, the investment side for Morningside, Qiming and IDG, the valuation of about 250 million U.S. dollars; in December 2011, millet Company completed a new round of 90 million U.S. dollar financing, valuation of 1 billion U.S. dollars, investors including Qiming, IDG, shun for the fund, Temasek, Qualcomm, Morningside. The valuation logic is four times times more valued than the previous round, with a 4 billion-dollar valuation nearly as close to the BlackBerry's 4.9 billion dollar as the equivalent of Nokia's market capitalisation. Among Chinese internet companies, the value of millet is now second only to Tencent (HK $402.9 billion), Baidu (38.8 billion U.S. dollars), Alibaba (35 billion U.S. dollars), NetEase (7.4 billion U.S. dollars), ranked five, already more than Shanda, Ctrip and other companies. Lei said that the millet high valuation because of "a": the left foot of the internet, the right foot smart phone. According to the company's data, Millet mobile phone sales in May this year exceeded 700,000 units, since the end of last year sales, Millet handset total sales have exceeded 3 million units. The source said that the Millet mobile phone plan to complete sales of 5 million units this year. Lei thinks, the investor gives Millet handset overestimate value, with millet handset current sales relation is not big, they see is millet handset's future. HTC had the highest market capitalisation of $40 billion trillion, and Nokia had the highest market capitalisation of $200 billion trillion. Lei said, "in the mobile internet era, the market will enlarge, will be born a big company, investors believe that millet is possible." Lei that the millet company is now two years old, investors to two-year-old Baidu, Alibaba, Tencent are not valued at the price/earnings ratio, but the future valuation. Looking back after ten years is a very successful investment story. Lei said that the current stage of millet, relying on the "City dream rate", rather than P/E. Ai Media Consulting CEO Zhang said: "Investment in millet is not only the dream investment, investors bullish millet is the reason for millet stand in the" industrial intersection "above," smart Mobile + mobile Internet "to invest a lot of imagination space. Compared with the traditional mode, the millet system is more cost-saving. Zhang Analysis, millet mobile phone's electric dealer system saves the channel cost, at the same time is a forecast market sales perception system; Millet "fever machine" brand connotation has been recognized, from the core of the spread of Internet users, in addition to Apple, the smartphone does not yet have a company "strong brand" characteristics; miui+ Software (Internet applications and services) + hardware model has some advantages. RayThe army is called "Millet system in line with all the characteristics of the Electric Company": Call center, logistics, electrical sales platform. He believes that even if the millet as a home e-commerce company, but also a large company: to the May sales of millet For example, shipments of 700,000 units, each mobile phone price of 1999 yuan, turnover of 1.4 billion yuan, the annual sales of up to 16.8 billion yuan. The analogy is Beijing east, China's biggest company, which traded 20.9 billion yuan last year. Lei smile: "I recently in research, will be remote control car to" xiaomi.com "to sell. "Profit Margin truth millet successful financing news, not Lei himself first in Weibo disclosure, but its rival Qihoo 360 chairman Zhou." In the past one months, Zhou in micro-blog slammed the millet mobile phone profiteering, the two people for this is not lively. Industry insiders generally believe that the move is intended to force millet price, for 360 Huawei Special machine Open. Zhou 祎 reported that the amount of millet financing also said that the Millet financing report also revealed two core information: one is the millet mobile phone commitment to 10 billion sales of 2.5 billion yuan profit, the second is further confirmed the millet mobile phone profiteering, so that each net profit of more than 700 yuan. Lei said: "The so-called financing report is pure fabrication, millet this round of financing without any financing report." Lei also to Zhou 祎 empty shout: Since weeks always see report, please take out publicity for everyone to see. For "Millet mobile phone profiteering," said Lei that Zhou will be "part of the purchase cost" and "machine costs" confused, the concept of a replacement, parts purchase costs accounted for only a portion of the cost. Even the cost of purchasing, it is not the sum of parts prices, but also includes a variety of taxes, insurance costs: In the case of tariffs, the highest component tariffs of 12%, of which display 5%, camera 2%; At the same time, customs will levy value-added tax, import insurance will be added to the entrance, the rate is generally 3 per thousand; There is a cost of exchange. All the above costs are added together, which is the cost of parts purchasing. The next cost is the cost of production. Millet mobile phone currently on behalf of the factory has two, one is WA, one is Foxconn. In order to ensure good product rate, testing production lines, only one of the cost of engineering machines, Millet generation engineering prototype up to 2000 units. Lei said: The cost of 2000 sets of engineering machines amounted to millions of yuan. Hardware manufacturers will accept the cost of mold, each open mold cost of hundreds of thousands of dollars. The next cost is warehousing costs, the cost of royalties paid to Qualcomm, the company's operating costs, staff salaries and so on. Lei said that the Millet mobile phone online sales more with Alipay and credit cards, both will charge a certain fee. According to the reporter understand, Alipay's rate is 3 per thousand. In addition there are education, urban construction and other costs. Lei response Zhou: In the case of fierce price competition, the use of Qualcomm 8260 dual-core chip mobile phone has not been less than 2000 yuan, which from the negative proof of "millet profiteering" is not established.