Mr. Wei: Not optimistic about platform type electric Business enterprise

November 6, 2012-7th, 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 the Royal Fund chairman David Wei received an interview with Eric Network:

Moderator: Hello, everyone, Eric, this is the 7th Annual Forum in 2012, we are pleased to invite the Chairman of the Royal Fund Mr. Wei, welcome Mr. Wei to our netizens to say hello!

Mr. Wei: Hello!

Moderator: I remember hearing you said before, to the Internet technology to improve the traditional industries, the traditional industry to accumulate experience to promote the development of the Internet, how to interpret the two-tier relationship?

Mr. Wei: We have invested the largest wedding photography company Mrs. Kim This brand, is a very traditional industry, will not be replaced by the Internet, is a cat will not be killed by the industry, the total not necessarily men and women go to the day Cat Mall to buy a PS software, the men and women PS is married. The industry will not be eliminated by the Internet, but it does not mean that it cannot be transformed by the Internet. Before and after the investment lady, we helped the enterprise to set up the online wedding photography sharing community and how to sell it online. Through the revision you can look at, now called 121314.com, this domain name design is our planning, at present, from the Internet plate business accounted for more than 40%. has been a great help to the growth of performance. This is an example of integrating it and the Internet to upgrade a traditional enterprise.

Also look at the Internet companies we are investing in, including mobile internet companies, which in the entire sales organization, product planning, we have introduced a lot of traditional industry consumer experience. For example, the consumer industry attaches great importance to customer classification, but the internet feels that the crowd is too much, instead of very attention to classification, we put to the typical users, consumer classification management of many management methods into the Internet enterprise, let it to its user behavior classification, management, operation, also played a very good effect.

Moderator: In the 5 companies you invest in, there are 3 companies that are related to the Internet and the electricity business?

Mr. Wei: Of the 5 companies that have completed their investment, two are internet companies and one is business-to-business.

Moderator: This can explain that you are still more optimistic about the development of the Internet now, so to vote for them? Or is it that the traditional industry will invest more in it?

Mr. Wei: The proportion of our investment in this fund is probably 4:3:3,40% we will focus on consumer goods, 30% e-commerce, 30% Internet, the fund's formulation is about such a proportion.

Moderator: There is a question to ask you, in the investment of these companies, a single investment is the biggest investment in good yes, this you can introduce? Why did you throw so much?

Mr. Wei: A lot of people asked Baidu, Alibaba fourth level is what, China's fourth level of Internet must be one of the largest data accumulation companies. BAT three can become Baidu, Alibaba, Tencent is very important reason based on its user volume and based on its data. From the point of view of data accumulation, good easy a itself data on Chinese netizens more than Tencent, Baidu, Alibaba. In the next big data age, who has the data is likely to win. The second step is who applies the data, can use the good data. Right now, yes. The most important aspect of improving your business ability is data capability. How to put a good people in mind is an Internet advertising intermediary this traditional idea into industry advertising pioneer. But we must not forget that without this intermediary business, it is impossible to collect the largest user data in China, the intermediary business not only to survive, live well, but also in the history of the accumulation of China's largest Internet user database.

Moderator: Do you have any expectations or plans for a good listing?

Mr. Wei: There is a saying from Alibaba began to say, often said that the listing should not have a timetable, before listing a few milestones to do a good job, when these work well, the listing itself is ripe. Because you can plan what you should do, you will never be able to plan what will happen to the capital market, plan what is not available, or plan what you can.

Moderator: Now there is also a topic that is most mentioned is the electric business industry, before the Electric corps buy compare fire, but now is not the case, especially the group buy appeared the obvious downhill trend, many enterprises are in bankruptcy, there is a data that is the average of 5 closed every day, then, for you, the future will also be optimistic about the domestic electric business?

Mr. Wei: The entire Royal fund has not invested in more than a year of business or consumer-related e-commerce, but so far, E-commerce is our second largest investment, such as the Shenzhen agricultural products Trading E-commerce platform, this is a business-to-business platform, so when the market is too concerned about the customer, Ignoring E-commerce and a business-to-business. Of course, the company does not say is not optimistic, I often said that when others look good, we are calm, others greedy when we are a bit afraid, when the market began to fear, we may be shot, recently we began to pay more attention to the E-commerce companies, but E-commerce companies scored a lot of classes, There are types of platform such as Taobao cat type, there are online retailers, such as Jingdong, shop 1th, such as online retailers. There are customers, green boxes, selling bags and other private brands, there are also public comments such O2O mode of E-commerce, these 4 categories inside we also have different concerns, we are not concerned about the platform class, we think the platform escape, we will pay more attention to online O2O such e-commerce and E-commerce brand category.

Moderator: You just talk on the stage is also related to innovation, vitality of these two key words, in your optimistic companies in these industries, will take this thing to measure it?

Mr. Wei: Vigor is easy to judge, we take the enterprise two times to see, one is 8:30 A.M. to 9:30 between, one is about to see the 6:30, you see work when most of the staff is very happy, smiling to work, will also see many enterprises work very painful, you immediately points out which enterprises have vitality. Also look at work time, are already ready to rush home, the enterprise vitality is not strong. But we also see a lot of enterprises, 6 o'clock to see and 9 o'clock to see there is no difference, this business is our favorite, very energetic. Judge an enterprise's vigor to look at nine or 52 points. Look at innovation, we rarely directly to understand the enterprise innovation. We look at innovation through users and customers. In interviewing customers, look at the user's point of view to see if they are satisfied with the service provider, the product provider. Innovation is not for others, but for users. So we rarely pay attention to how we introduce them to innovation, and we will test the effectiveness of their innovation from the customer's perspective, innovation is actually a continuous to meet and continue to lead the concept of customer demand, it is not for innovation and innovation.

Moderator: When it comes to innovation, you also said that training is also your very fancy, you will also from the company training system above as a criterion of judgment?

Mr. Wei: We rarely judge innovation from the training system, we still look at the results. Customer and user satisfaction with innovation is very important, if not satisfied we will be from the company's training, incentives, assessment of these latitude to adjust. Our company has its own financial partners and partners in marketing, helping companies to improve these weaknesses.

Moderator: Thank you very much for your interview with Eric. Thank you.