Su Ning's anti-tradition: price war is necessarily the only deficiency is the electrical business experience

Jindong, chairman of Suning Appliance

Today is the first day of the East Suning price war. Is it necessary for them to fight a mortal war? This newspaper recently exclusive interview with Jindong, in the interview, Zhang did not disclose any details of the strategy, but the reporter has obviously felt that Su Ning is about to start a full-scale war. Because no matter from which part of the supply chain, Suning has completed the preliminary layout: Product line expansion, experience optimization, open platform for efficient operation, the supplier of the shortening cycle, the improvement of the background service capabilities, and at present Suning has 60 Logistics Base, 12 automated selection Center, 5,000 service outlets and 10 cloud data centers.

For Su Ning, the only lack is: the experience of the electrical business. But Jindong has already been heroic dry cloud. Price war is its inevitable move. Zhang's strategic goal is not Jingdong, he has to face up to Alibaba and Tencent, he is against himself, is the traditional retail, to see how suning anti-traditional.

July 12 Evening 22 o'clock, Suning electric appliance Nanjing Xu Headquarters, the lights are still brightly lit. The office building, which can hold 10,000 people, looks out from the outside, with every blue glass window flashing brightly to the night. For the new ten-year strategy, suning employees often work late into the night. But outside the Xu, Su Ning's such busy and hard work has not been known to the outside world.

Affected by the latest issue of 8 billion yuan, Suning appliance stock price yesterday (August 13) fell to 5.88 yuan, the share price (after the right) hit a three-year low. The price of its founder, Jindong, has evaporated by nearly half. And in the stock price continued to fall, Jindong had to add to the Trust company 442 million shares of Suning appliance. What happened to Su Ning?

Over the past 8 years, Suning electric appliances business income growth of nearly 40% year, net profit compound growth nearly 60%, 2004 to 2011 market value growth nearly 20 times times. This year is the first year when Suning's new decade strategy began to drive the overall layout. In the planning of Jindong, in 2020, Suning electric offline entity stores will be built 3,500 stores, on the line suning will realize the purchase of 350 billion yuan sales revenue. He built an unprecedented new retail model: the virtual reality of online interaction-Wal-Mart + Amazon.

The Grand Blueprint has just begun to show itself, and the capital markets have opted for a way of pulling down share prices. In Beijing Gao Hua Securities Limited Liability Company's Asia Pacific buying list, has not seen suning appliance. Also has the agency to be quite suning appliances, a fund manager told "Global entrepreneur" reporter, "every time we discuss suning appliances, immediately stand into two camps, one side bullish, side bearish, attitude is very resolute, anxious to fight up." ”

Why did Suning suddenly turn from a retail giant into a controversial institutional investor? Is the capital market voting with its feet? In an exclusive interview with global entrepreneur, jindong a light smile, "they don't understand me." Then it was silent, and after a few seconds said, "It's good, I don't need so many people to understand." ”

The day before the interview, Jindong has just had a long talk with Hong Yi Investment President Hony. The latter had participated in Suning appliance directional issue on July 6, to more than two market 42.9% of the agreed price (12.15 yuan/unit) subscription 98.7654 million shares, 1.2 billion yuan, officially into the capital Suning appliances, accounted for 1%. In this issue, Jindong himself to run east investment in the name of the purchase of 3.5 billion yuan of new shares, and last year agreed to participate in the issue of Xinhua life because of the state-related regulations failed to obtain PE qualifications in a timely manner, it is unable to subscribe (800 million yuan).

Jindong This description hony, "He is too clever, he sees Su ning see." "Hony has also made public his attitude:" After due diligence, we think that Suning is a company with investment value, now may drop 40%, in the future we earn several times even more than 10 times times the return. "" Suning in the warehousing, logistics and information system has accumulated a lot, suning easy to buy last year to do 6 billion yuan scale and profitability, this and other burning money to do the scale of the model is not the same. ”

Here, Jindong finally started a little excited, "you can not say that you built a 10-storey building, said that they are the tallest building, you have to look at the next to a person although not started building, but has played enough to cover the 100-storey building foundation." He meant that Suning was the latter.