Gome accused of missing electric business opportunities

Silicon Valley December 31 according to the "Huaxia times" in the article, home appliance chain giant Gome (micro-bo) in the face of successive declines in performance, finally realized that the electric dealer is not a piece of crap. As a result, Gome selected in 2013 and its old rivals Suning as the way to break the road, to electrical and online under the integration of line. Among them, the electric business is promoted to and Gome 26 years to lay the line under the same important position.


　　


Clearly, the electric business is shouldering the major responsibility of the loss of Gome's electrical performance. However, after a year of 2012 years of fighting, Gome apparently has no Su Ning had to exert the power of a good time, put in front of an unusually arduous battle.


　　


new logo to "electrical"


　　


December 25, Gome officially released the next three years of new strategic planning, people found that the identity of gome electrical appliances, the word has quietly disappeared.


　　


gome (micro-blog) to the electrical strategy has been confirmed by the company's top brass. Gome President Wang Junzhou told reporters: "Gome will be in the main business of electrical extension, and then talk about electrical appliances may have some far-fetched." ”


　　


according to Wang Junzhou revealed that Gome online next year will be introduced home, home textiles, mother and child, such as non-electrical products, gome entity stores in the future will gradually expand the merchandise. He also said that the proportion of appliances in the SKU, although not too high, but the proportion of sales will continue to remain.


　　


in Gome's new strategy, the electronics is to better achieve online business and offline business close integration. Gome Senior Vice President Li Juntao to reporters, "We can not take e-commerce every day with others, to play the game of the integration to play with him." ”


　　


at the same time, online and offline integration is becoming the business model of retail trade. Gome Electrical appliances in charge of the senior vice president of the business Shangui told reporters that in the United States in the 2012 retail industry top ten rankings, in addition to the Amazon nine other companies are online under the coordinated development. "The ' Business-to-consumer entity store ' represents the direction of the industry's profit model for the next 5-10 years. ”


　　


The first step of the old opponent Su Ning is a strong positive example. The same experience of home appliances market slowdown adverse effects of Suning Appliance Three quarterly show, although its third quarter appeared more than 30% of the decline, but Suning's net profit still amounted to 597 million yuan, its first three quarters net profit of 2.351 billion yuan.


　　


in the announcement line under the fusion, Gome has been on the organizational structure of the line in the promotion of procurement, logistics, after-sale and other aspects of integration.


　　


It is noteworthy that Gome announced the establishment of the Senior Vice President Li Juntao head of the Headquarters procurement business system, in the E-commerce online procurement business, while the newly established Gome Accessories company enriched the differentiated products online and offline supply capacity.


　　


In addition, the release of Gome's new strategy is full of big shareholder Huang Guangyu figure. In addition to Huang's entrepreneurial story to interpret the "letter" culture of the Gome brand, Wang Junzhou also told reporters that Gome's 2013-2015 strategy has been approved by the Gome Board of directors and Huang.


　　


a profit timetable


　　


in fact, although Gome has begun to enter the electric business in the past 2003 years, but the gome treatment of electric dealers has always been a small-time attitude, the development of the center of gravity has always been placed in the expansion of the physical stores, but the development of the electric business is beyond the imagination of Gome. Ali Department of the cat and Taobao in the double 11 the day the turnover reached 19.1 billion yuan, its annual total turnover is a breakthrough of 1 trillion yuan. And under the impact of the electricity business, the so-called hundreds of billions of enterprises in the United States is declining. Gome's third quarterly bulletin showed revenue of HK $36.057 billion in the three quarter of 2012 years ago, down 18% from a year earlier, and a net loss of HK $687 million.


　　


once publicly stated that "I do not believe that a company with a sales of 10 billion will have more procurement advantages than a trillion-dollar enterprise" Wang Junzhou also have to admit: "2012, the Consumer electronics market growth is lower than in previous years, E-commerce in the first line of the market has constituted a significant impact on the entity stores, which ”


　　


In addition to the proposed electricity business is Gome's core channels, Wang Junzhou also told reporters that Gome expects the power channel will be in years to account for the group's business 20%-30% of sales. This ratio means that the market share of the electricity channel will be the same as Gome's current three or four-line city.


　　


profit is the Gome electric Business 2013 repeatedly mentioned target keyword. Not only Wang Junzhou said that 2013 Gome will actively seek the possibility of profitability in E-commerce, Shangui first also said that the integration of Gome online, hoping to become the independent electric business industry to be the first to achieve profitability of the enterprise.


　　


Gome's own profit judgment mainly stems from its own supply chain advantage. Wang Junzhou to reporters, "Gome is the biggest difficulty is how to improve multi-channel operations, in this round of competition, who can build low-cost and efficient supply chain, who won." ”


　　


According to the reporter understands, once believed the relationship with the supplier is to fight out Gome, with Skyworth, Haier, Lenovo and other enterprises to form a supply chain alliance, in order to strengthen their supply chain advantage. At the same time, gome in the country more than 200 key cities have large warehousing base, 123-line city of large household appliances can achieve localized logistics distribution.


　　


but the senior level to gome electric business time is not much. Shangui first even put forward the electric quotient in six months to one year of time profit target.


　　


It's hard to get into the electric circle


　　


However, after a year of 2012 years of fighting, electric business enterprises have been basically scheduled seating. Paller Consulting company Senior Director Luo Qingxi (Micro Bo) once told reporters that even if the loss of the electricity business to continue to invest in money, because miss this loss of gold period, will not enter this circle.


　　


and now, the United States is faced with the outcome of the game after the first set of situation. In the Ali department to the absolute superiority of the first, Jing-dong ranked second, in the industry launched a large-scale acquisition of Suning easy to buy, there are Tencent investment in the easy news and Amazon China, and so there are strong outside the financial support of the strength in the United States and Gome PK snatch third position.


　　


familiar with the gome industry insiders told reporters that in the market share gradually centralized now, the United States to fight from the scale of the opponent is impossible, even if it is not easy to snatch market share.


　　


in fact, in front of rivals such as Lin, the power of the dual-brand Gome is not optimistic. Gome's third quarterly report, the first three quarters of this year, Gome's total sales of about 3.1 billion yuan, the results of the difference is too far from the competitor. Suning easy to purchase in the first three quarters of this year to achieve nearly 9.6 billion yuan in revenue; Beijing East 2012, the company's income and open platform for trading flow is a breakthrough in the 60 billion yuan mark.


　　


and the United States to strengthen the supply chain of the killer, also not be optimistic. According to reporters, the current Gome's supply chain advantage is still limited to the traditional home appliances, and suning through the acquisition of vertical electric dealers, has expanded and opened more categories of supply chain.


　　


at the same time, with the Gome and the company PK Competition third place Suning easy to buy, Xun, Amazon China, in addition to performance than Gome, its relying on the parent companies are without exception in the profit state, this is the loss of Gome can not match.


　　


Apparently, Gome had a tough fight in 2013.


　　


　　


Invisible Wealth Imperial suning: Layout real estate to seek bureau finance


　　


Author: Wangyongjian


　　


December 26, 2012, the 22 anniversary of the venture, Suning Electric (002024.SZ) Chairman Jindong to the group all 180,000 employees sent a letter. The letter, called "The transition to a new journey and new Suning", is concise, but it is revealing important information at least two points.


　　


point is originated in the early 2012, Suning group brand "to the electrical", operation "Super electrical" is about to be completed, the letter, Jindong the first public address of Suning Appliance parent company--Suning Electric Appliance Group Co., Ltd. for "Suning Group" Another point is to further clarify the 2020 sales of Suning group will reach 1 trillion yuan.


　　


The letter did not respond to the media said that Suning Property Group Limited (hereinafter referred to as "Suning home") will be listed in Hong Kong. "I haven't heard anything about H-share listings. "Suning, a middle-level manager who did not want to be named, told the China Business newspaper reporter, Suning property is not listed in the company, this situation is not clear."


　　


but this newspaper exclusive obtained the news shows, in Suning group in the future annual revenue amount of 1 trillion yuan planning, suning home and offline retail, online electric trader is called Suning Group "troika".


　　


low-key Rich


　　


2012 China's richest list shows that Jindong is ranked 12th in 20.16 billion yuan. It must be said that Jindong's strength is obviously "underestimated".


　　


Although Suning Group is currently the first domestic shout out 2020-year revenue of 1 trillion yuan of private companies, "work" very bold, but Jindong and Suning company's "personhood" is quite low-key.


　　


Forbes October 12 released the 2012 China Rich list shows that Jindong to 20.16 billion yuan in the 12th position. It must be said that Jindong's strength is obviously "underestimated".


　　


Suning in the first half of 2012 earnings data show that Jindong I directly owned Suning appliance 27.9% of the equity, while, its I hold 28% of Suning appliance Group shares, and Suning Electric group holds 13.47% stake in Suning appliance. Together, Jindong holds about 31.67% per cent of suning appliances. To Suning appliance now about 6.8 yuan/share share price (as compared with Forbes release) estimates, only this part of the equity value is as high as 15.9 billion yuan (7.383 billion shares x31.67%x6.8 yuan/share).


　　


need to explain, Suning Electric Group also directly hold Suning easy to buy 40% stake, which also means that Jindong I hold suning easy to buy 11.2% stake.


　　


Suning easy to buy October 2012 will be the annual revenue assessment target 20 billion yuan to 17 billion ~180 billion, the value of its stock is difficult to predict. One can refer to the standard is that 2011 Jingdong Mall net sales of 21 billion yuan, 2012 Beijing east will be the revenue target of 50 billion yuan; Regardless of the results of the completion of the Jing-dong, with Suning easy to buy about the equivalent of 1/3 Jingdong mall revenue, Beijing East March 2011 valuation of 10 billion U.S. dollars, November 2012, the latest valuation is 7.25 billion U.S. dollars, even if the Su Ning easy to buy than Jingdong mall higher than the gross margin, Jindong held the 11.2% suning stock valuation also at least 1.689 billion yuan (7.25 billion USD/3x11.2%x6.24 Yuan/USD).


　　


It also means that, according to Forbes ' statistics, Jindong's other assets held by Suning Electric group are valued at only 2.571 billion yuan.


　　


public data show that suning Electric group completed 2011 revenue as high as 190 billion yuan, minus suning appliance 2011 93.889 billion yuan turnover, Suning Electric group to real estate in other sectors of the business revenue also up to 96.111 billion yuan. Jindong by holding 28% per cent of the Suning appliance group to share 2011 revenue of nearly billions of dollars in earnings, the 2.571 billion-dollar Forbes valuation is clearly irrational.


　　


But it is this unreasonable valuation, let Jindong in the wealth list relatively "low-key."


　　


"Crash" Wanda


　　


in commercial real estate, advanced hotels, chain and other industries, Suning home and Wanda Group highly coincident. And at the end of 2012 Wang shouted high pay to set up Corps team, has been aspiring to become China "Wal-Mart + Amazon" Suning appliances Will and Wanda "crash".


　　


as mentioned earlier, and the same as Jindong, Suning Electric Group, another important unlisted assets-suning home is also a "stealth" master.


　　


December 28, Suning appliances announced that suning property for the Jindong holding subsidiary, registered capital of 200 million yuan, as at December 31, 2011, Suning Real Estate (combined statement) total assets of 24.702 billion yuan, 2011 to achieve net profit of 486 million yuan.





from the official website of Suning home, said: "Suning Property commercial real estate involved in Beijing, Shanghai, Nanjing, Tianjin, Chengdu and other national many one or two-line cities, the reserve developed more than 80 Suning Plaza, Suning Electric Plaza and other products, the industry covers a large shopping malls, electrical flagship stores, five-star hotels, Grade A office buildings, serviced apartments and so on. Under construction projects are the city's core business enclosure landmark building: 88 floors 400 meters high Nanjing Olympic Suning Plaza, 388 meters of the Xin Jie Kou Ning Plaza, 338 meters Zhenjiang suning Plaza, 328 meters of Wuxi Suning Plaza, 266 meters Xuzhou Suning Plaza, 100 meters of Qingdao Lichang Suning Electric Plaza and a series of large-scale commercial complex projects are comprehensively promoting the development and construction. ”


　　


's strength is so strong and the current domestic commercial real estate leader, Wanda Group is called about.


　　


Wanda Group's official website, said: Dalian Wanda Group was founded in 1988, the formation of commercial real estate, luxury hotels, tourism investment, cultural industry, chain stores five major industries, enterprise assets of 250 billion yuan, annual income of 140 billion yuan, annual tax 20 billion yuan. Has opened in the country 55 Wanda Plaza, 34 five-star hotels, 814 movie screen, 46 department stores, 51 discount KTV. 2015-year goal: assets of 300 billion yuan, annual income of 200 billion yuan, annual tax 30 billion yuan, become a world-class enterprise.


　　


is not difficult to see, in commercial real estate, luxury hotels, chain and other industries, Suning home and Wanda Group highly coincident. And at the end of 2012 Wang shouted high pay to set up Corps team, has been aspiring to become China "Wal-Mart + Amazon" Suning appliances Will and Wanda "Crash":


　　


Suning to operate the air conditioner started under the line, after the expansion to home appliances, 3C, and so on, by the end of 2011, by the subsidiary of Suning Easy to purchase online books, department stores, home, virtual services, such as new operational areas, and Wanda Group chain since the line department store started, the future of the operation of the electric business is not clear, But for the gross margin of digital products and electricity is very difficult to not be tempted.


　　


has reported that Suning in the city has 30 million square meters of land reserves, 2012-Year plan to start commercial real estate projects have 8 million square meters. As of the first half of 2012, Wanda's land reserve reached 39 million square meters, including 5.5 million square metres of new land reserves.


　　


This is also the media will be suning real estate known as Jindong hidden in the water under the "nuclear submarine" data confirmation. March 23, China Real estate TOP10 Research group released the "2012 Chinese real Estate Hundred Enterprises Research Report", Suning property was 2012 China real Estate Hundred enterprises, Chinese commercial real estate enterprises TOP10, China real estate business growth TOP10.


　　


"Back to the tree good shade" Suning real estate was founded in July 2005. The company's industry and commerce data show that suning real estate legal representative Ma Xiaowing, the initiator shareholder Suning Appliance shareholding 55%. In October 2008, Suning property increased to 200 million yuan, shareholders changed-Jindong capital contribution of 120 million yuan accounted for 60%, Suning Electric appliance group 50 million yuan accounted for 25%, Buyan, Ma Xiaowing, Shong respectively 10 million yuan each accounted for 5%. At the end of 2010, Buyan and Shong withdrew, the amount of Jindong capital increased from 120 million yuan to 130 million yuan, accounting for 65% of the shares.


　　


It is worth mentioning that in adhering to the commercial chain development as the leading industry, Suning home also involves the Suning Olympic Riverside Mansion project, Purple Jindongshire and other residential real estate, Zhongshan International Golf and other tourism real estate, Suningrui City, Xuzhuang Sunin Group headquarters base, such as science and technology real estate, the country many Suning Logistics Base logistics industrial real estate.


　　


according to the plan, by 2020, suning real Estate will "complete 300 electric flagship stores, 50 shopping malls, 100 high star hotels and 60 Logistics Base construction", it seems that the investment required is huge; As the company is mainly relying on the acquisition of land after the bank mortgage to obtain loans to develop the model, overall, suning real estate needs operating funds and no outside analysis of the "hungry".


　　


Financial


　　


Chongqing suning Micro-loan Company and Suning Yi Bao, Huaxia Tong two third-party payment company together to build its overall financial services system for Suning appliances and suning easy to buy line under the integration of the development of financial support.


　　


Jindong also gradually dabbled in the financial sector.


　　


Just like Ma Yun (Weibo), "Alibaba department" has Alipay, Suning Electric has 100% stake in Nanjing Suning Yi Bao Network Technology Co., Ltd., Yi Pay in June 2012 won the People's Bank of China issued a third party payment license. Suning easy to buy official sources said, Yi pay "In addition to Su Ning easy to buy more abundant capital flow, suning Yi Bao Huge membership information base, for Suning easy to buy research network consumption behavior to achieve precision marketing created conditions."


　　


but for Jindong's vast wealth empire, the abundant cash flow created by the electric appliance retail and the extreme hunger and thirst of the real estate development, there is a huge "affiliated transaction" GAP, how to comply with the listed company system, and maximize the efficiency of capital turnover, the layout of finance is not just for suning easy to purchase services so simple.


　　


as early as August 28, 2009, Suning Appliance and Jiangsu Bank Co., Ltd. signed the "share agreement" to 540 million yuan to subscribe to 1.79% stake in Jiangsu Bank. Only from the shareholding ratio, Jindong first-time shareholding in the bank is not intended, but since the establishment of a large number of strategic to enter the electric business, its efforts to build financial services chain around the power has been targeted.


　　


May 11, 2011, Suning Electric Appliance and Wuhu Construction Investment Co., Ltd. signed the "Property rights transaction Contract", the investment of 80 million yuan, the latter held by the Wuhu Wan Tong Card Co., Ltd. 98.4% shares. On the same day, Suning Electric holding 60% of the shares of Suning and Wuhu Jinghu Construction Investment Co., Ltd. signed the "Property rights transaction Contract", the capital contribution of 9.9 million yuan, under the holding of Anhui Huaxia Tong Payment Co., Ltd. (hereinafter referred to as "Huaxia Tong") 9.9% shares. The same year May 16, Suning Electric and Wuhu network Huitong Electronic Technology Co., Ltd. signed the "Equity transfer Agreement", the same to 9.9 million yuan, by let Huaxia Tong 9.9% shares.


　　


July 2011, Beijing Suning Electric Appliance Co., Ltd. as a representative of Beijing Tongzhou District Enterprises, funded 9 million yuan, with the National Development Bank and other regional enterprises to launch the establishment of Beijing Tongzhou State-owned Township Bank Co., Ltd., holding 9%. And Su Ning in Beijing's electric Business Logistics distribution Center also finalized Tongzhou.


　　


the latest news, December 5 night, Suning appliance issued a notice that the Chongqing Suning Microfinance Co., Ltd. will be set up with 300 million yuan, of which, Suning Electric group accounted for 25%, suning electrical appliances wholly-owned Hong Kong subsidiary-Hong Kong Su Ning accounted for 75% shares.





Microfinance Company "and Suning Yi Bao, Huaxia Tong two third-party payment company, to build its overall financial services system for Suning appliances and suning easy to buy online under the integration of the development of financial support", Su Ning issued a notice said.


　　


as of this newspaper, Suning has not yet on a number of key data to respond. And according to Suning June 2011 "New decade Strategic planning" revealed the news, to 2020, Suning group to become a trillion-level enterprise, of which, e-commerce sales of 300 billion yuan, physical store sales 350 billion yuan. That is to say, suning property and finance and other sectors will contribute to the remaining 350 billion yuan in 2020.


　　


"Remember, Wanda is our major competitor in the future." "A core executive of Suning Group said to its subordinates.