Reborn Entrepreneurial Giant.

Chapter 472 The Battle between WeChat and Tenxin

Qiancheng Motor's financial report for the first half of 2011 is about to be released, including Mitsubishi Pajero's revenue exceeding 60 billion. This is an achievement achieved after cutting off Cheetah Motors.

Then there is no profit?Of course it's impossible. Although the gross profit was about 15%, the loss in the first half of the year exceeded [-] billion.There will definitely be losses in the second half of the year, but the magnitude will be smaller.

However, due to financing and continued investment, Qiancheng Automobile's total assets have increased and its debt ratio has dropped to about 50%. In the second half of the year, there will be subsidized loans from Hunan Province, not much more than about 5 million, which is better than nothing, but a bit disappointing.

"It seems that we still have to rely on ourselves." Qu Li had a headache and overestimated Hunan Province.

"Should we borrow money from banks or issue corporate bonds?" Lu Tao knew that Qiancheng Auto would inevitably burn money in the future. Everything from battery motors to electronic controls, as well as super charging piles, as well as modular platforms...

"..." Qu Li was dumbfounded. At first, he asked Qiancheng Auto to show off in Europe and the United States. He had the idea of ​​issuing corporate bonds in the United States. After all, the loan interest rates there were low. But after consulting a financial expert, he learned about the credit rating of the corporate bonds issued by Qiancheng Auto. It can only be classified as junk debt.

The interest rate on the U.S. dollar bonds issued by Jumei is about 3%, and the credit rating is speculative grade. The normal junk-grade bond interest rate is 7%, which is considered low interest. The only way to reduce costs is convertible bonds.But the company’s market value is trading sideways between 150 billion and cannot rise. Is it not cost-effective to issue bonds now?

He really had no choice. He still had Xiangjiang Wealth Bank to take care of the situation and was able to get a loan within 7%.This is the benefit of abundant resources. Although A-share investors don't like Qiancheng Motor and think Qu Li is a layman who doesn't know how to build cars, they also know that this company will not go bankrupt easily. There are really too many resources that Qu Li can mobilize. .

"It's still early..." Qiancheng Auto has only been financing for a long time, and now it's borrowing money. The outside world doesn't know what the outside world will think of it. Of course, Qiancheng Auto will often be short of money in the future.

Why Qu Li is so concerned about the debt issue? The reason is simple. The higher the debt ratio, the smaller the ability to resist risks. Once the sales of a certain car fail, there is likely to be a cash flow crisis and the greater the risk of bankruptcy.Of course, this is not absolute. Apple's debt ratio is as high as 85%, but it is still fine; HP's debt ratio is as high as 109%, but it is still not bankrupt; a company's debt ratio is as high as 90%, well, it may be scolded to bankruptcy.

The 5 million subsidized loan was still too little. Lu Tao went to negotiate with no results, forcing Qu Li to chat with the leaders of the Hunan provincial government again.

"Many people will be unhappy if you move the Qiancheng Geometry production line to Beijin." The leader

"If this is the case, then there may be more unhappy things in the future." Qu Li has always been straightforward and speaks his mind. This is well known to everyone.

"..."

"In my long-term plan, Qiancheng will definitely build factories in Europe and the United States. We will give priority to business in mature markets and compete with the best companies in the world..." Qu Li

"We are not preventing future progress, but we must take into account the specific situation. Hunan Province is difficult, and the income of the people of Xingsha..." The leader played the emotional card

"I have done enough for Xingsha, not to mention the BYD factory. Honor and Jumei have holding subsidiaries registered here. If they must interfere with my operations, or if someone can do better than me, I don’t mind letting someone else lead.”

"No one wants to interfere with Qiancheng Motor, we have done a lot of work for you..."

"But many people in Honor have objections to me. I have invested nearly 10 billion US dollars in Qiancheng Automobile. However, due to various reasons, it has affected the development progress of pure electric vehicles."

The conversation between the two was not happy. The next day, the bigger leader met Qu Li.We did not talk directly about enterprises, but from macroeconomics to local economy, from domestic to foreign countries, from science and technology to humanities. No one who has reached a high position in this world is simple.

Many people in the country are studying Qu Li. Many of his boasts have finally come true. He has never lost any bets he made. Even if he wanted to disintegrate the Winter Alliance, he also gave a practical plan. Smartphones not only accelerated the mobile Internet , may also disintegrate...

Some people doubt that Qu Li, who is so young, has such profound insights into the Internet industry, but some people find reasons. Qu Li said that he wanted to go to Silicon Valley, but he mastered English communication skills in less than a year, and his learning ability is "terrible" So".

The leaders of Hunan Province have known Qu Li for several years, and this exchange lasted the longest. They couldn't help but ask Qu Li why he invested in Hunan Province.

"Domestic housing prices are too high, the gap between the rich and the poor is still widening, and there will be cracks at the social level that are difficult to heal..." Qu Li quickly thought of something and changed the subject: "Xingsha's housing prices are well controlled. If I can control it, I will increase investment here and bring at least two large companies with a market value of more than [-] billion to this city..."

"Oh, besides Qiancheng Automobile, are there other ones?" the leader was curious.

"The other one is Time Network." Qu Li said confidently

"Shijiang.com, which book and video website?" The leader didn't believe it. He knew this website.

"Books, videos, and videos are just the least valuable part of time. We have developed two mobile applications, one is called Xiaohongshu Instagram, and the team is in Beijin; the other is called WeChat, and the team is in Yangcheng." Qu Li

"WeChat!" the leader exclaimed, this is amazing

The battle between Shijiazhuang WeChat and Goosechang Tenxin has basically decided the winner. The voice function at the beginning of the year was launched in the global version, and the "people nearby" function appeared in the domestic version in June.Once these two killer features were launched, they quickly attracted a large number of user registrations.

Why are leaders surprised?Of course, it is inseparable from the great success of Shijiazhuang WeChat. In July, Huang Zheng, a person near the development of Tencent in Goose Factory, opened a Weibo account and shared the number of new Shijiazhuang WeChat users every day for seven consecutive days. By the end of July, it had exceeded 7 million users.

During this period, Tencent started QO diversion, and the QO core team was transferred to the Yangcheng Tencent team. Mahua Teng, Zhang Xiaolong, and Echang CTO formed a top decision-making group. They met until two o'clock in the morning every day to update functions and stabilize the system. Sexual maintenance is done to the extreme...

The person in charge of Time WeChat is Huang Zheng. No one should doubt his ability. Qu Li let him make decisions and asked Jumeiyun to transfer a team from Beijin to Yangcheng. Jumei also arranged elite soldiers and generals to listen. Arranged by Huang Zheng.In addition, Lu Qi and Lin Bing also came to help, responsible for coordinating various resources and starting a shopping spree with the goose factory.

Both companies have almost devoted the most resources to the instant messaging APP market. Time WeChat has been established longer and has a leading advantage, but its operating experience is not as good as that of Goose Factory. At first, as the number of users increased, the system stability was supplemented, and several times Short-term downtime.With Jumei Cloud joining the battlefield, the stability has been greatly improved and there have been no more problems.

At the end of July, the number of domestic WeChat users exceeded 7 million, and almost more than half of smartphone users had registered with WeChat. This advantage was strengthened in August, and most of the new smartphone users registered with WeChat, reaching 4000 million users. This is Goose Factory Historical data for November.

Gochang has QO diversion, Quli has Kunlun App Store and mobile phone pre-installation...

The business war between Huang Zheng WeChat, Zhang Xiaolong Tengxin, Jumei Time and Goose Factory in the summer of 2011 was the most eye-catching business war besides Honor's acquisition of Motorola mobile phones, and even affected Honor's acquisition.

It is said that some people objected to the Ministry of Industry and Information Technology, believing that the acquisition of Honor would bring about a monopoly.

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