Reborn Entrepreneurial Giant

Qiancheng Motor's financial report for the first half of 2011 is about to come out, including Mitsubishi Pajero's revenue of more than 6 billion, which is the result of cutting off the Cheetah Motors.

Then there is no profit? Of course it is impossible. Although the gross profit is about 15%, the loss in the first half of the year exceeded one billion. There will definitely be losses in the second half of the year, but the range will narrow.

However, due to financing and continuous investment, the total assets of Qiancheng Automobile have increased, and the debt ratio has dropped to about 50%. In the second half of the year, there will be a subsidized loan from Hunan Province, which is only about 500 million yuan. It is better than nothing, and I am a little disappointed.

"Looks like I still have to rely on myself." Qu Li had a headache, overestimating Xiang Province

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

"..." Qu Li was dumbfounded. At the beginning, he asked Qiancheng Auto to show in Europe and the United States. He had the idea of ​​issuing corporate bonds in the United States. After all, the loan interest rate there is low. After consulting financial experts, he knew the credit rating of the corporate bonds issued by Qiancheng Auto. Can only belong to junk debt.

The interest rate of U.S. dollar bonds issued by Jumei is about 3%, and the credit rating is speculative grade. The normal junk-grade bond interest rate of 7% is considered low interest rate. The only way to reduce costs is convertible bonds. But the company's market value is between 15 billion and it can't go up. Is it not worthwhile to issue bonds now?

He really has no choice, and he still has Xiangjiang Fortune Bank as a backstop, which can get a loan within 7%. This is the benefit of abundant resources. Although A-share investors don’t want to see Qiancheng Motors and think that Qu Li is a layman who doesn’t know how to build cars, they also know that this company will not go bankrupt easily. Qu Li can mobilize too many resources. .

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

The reason why Qu Li pays so much attention to the debt issue is simple. The higher the debt ratio, the lower 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%, and it’s still fine; HP’s debt ratio is as high as 109%, but it still hasn’t closed down; someone thinks that its debt ratio is as high as 90%, um, maybe it’s about to go bankrupt.

The subsidized loan of 500 million yuan was still too little, Lu Tao went to negotiate but failed, forcing Qu Li to chat with the leaders of the Hunan provincial government again.

"Many people are not happy when you arrange Qiancheng Geometry production line to Beijin." Leader

"If this is the case, then there may be more unhappy things in the future." Qu Li has always been straightforward and straightforward, which is well known.

"..."

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

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

"I have done enough for Xingsha, let alone the BYD factory. Glory and Jumei have holding subsidiaries registered here. If they must interfere with my business, or someone can do better than me, I don't mind letting someone else lead."

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

"However, many people in Glory have objections to me. They have invested nearly 1 billion US dollars in Qiancheng Automobile, but due to various reasons, the development progress of pure electric vehicles has been affected."

The conversation between the two was not happy, and the bigger leader met Qu Li the next day. Instead of directly talking about enterprises, from macroeconomics to local economy, from domestic to foreign countries, from technology to humanities, it is easy for no one to reach a high position in this world.

Many people in the country study Qu Li. He brags a lot, and finally realizes it. He has never lost a bet. Even if he wants to disintegrate the Winter Alliance, he has given a practical solution. Smartphones not only speed up the mobile Internet , may also disintegrate...

Some people wonder why Qu Li has such deep insights into the Internet industry at such a young age, but some people find reasons. Qu Li said that he wanted to go to Silicon Valley, and he mastered English communication skills in less than a year. So".

The leaders of Hunan Province have known Qu Li for several years, and this exchange time is the longest, so they couldn't help asking why Qu Li invested in Hunan Province.

"Domestic housing prices are too high, the gap between the rich and the poor is still widening, there will be cracks that are difficult to heal..." Qu Li quickly thought of something, and changed the subject: "Xingsha's housing prices are well controlled, If it can be controlled, I will increase investment here and bring at least two large companies with a market value of over 100 billion to this city..."

"Oh, besides Qiancheng Automobile, is there any other?" The leader was curious

"The other one is Mtime." Qu Li said confidently

"Mtime.com, which book, video and audio 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 apps, one is Xiaohongshu Instagram, and the team is in Beijin; the other is WeChat, and the team is in Yangcheng." Qu Li

"WeChat!" The leader exclaimed, this is amazing

The confrontation between Shiguang WeChat and Goose Factory Tencent has basically drawn the winner. The voice function at the beginning of the year was launched in the global version, and the "Nearby People" 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 Time WeChat. In July, Huang Zheng, a person near Goose Factory Tencent Development, opened a Weibo account and shared the number of new users of Time WeChat every day for seven consecutive days. By the end of July, it had exceeded 30 million users.

During this period, Tencent launched QO diversion, and the QO core team was transferred to the Yangcheng Tencent team. Ma Huateng, Zhang Xiaolong, and Goose Factory CTO formed a top decision-making team. They met every day until 2 o'clock in the morning. Functions were updated and the system was stable. Sexual protection is the ultimate...

The person in charge of Shiguang 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 strong generals. Arranged by Huang Zheng. In addition, Lu Qi and Lin Bing also came to help, responsible for the coordination of various resources, and started a shopping battle with the goose factory.

The two companies have almost devoted the most resources to the instant messaging app market. Shiguang WeChat has been established for a longer time and has taken the lead, but its operating experience is not as good as that of Goose Factory. At first, the system stability was supplemented with the growth of users, and several times Short downtime. With Jumeiyun joining the battlefield, the stability has been greatly improved, and there are no more problems.

At the end of July, the number of domestic WeChat users exceeded 40 million, and almost half of smartphone users registered on WeChat. This advantage was strengthened in August. Most of the new smartphone users registered on WeChat, reaching 50 million users. This is Goose Factory Historical data for November.

Goose Factory has QO diversion, Quli has Kunlun app store and mobile phone pre-installation...

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

It is said that some people objected to the Ministry of Industry and Speech, thinking that the acquisition of Glory would bring about a monopoly.

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