As a mage, I just want to pursue the truth

Chapter 106 Only a monopoly can enjoy excess returns
The pricing in foreign markets will be higher than that in the domestic market, coupled with the rapid iteration of domestic mobile phones, the profits in foreign markets are considerable.

Take rice as an example. In 2020, rice's overseas revenue exceeded its domestic revenue for the first time.

As the investment director of Shunwei Capital, Cheng Gang knew the sources of profits in the mobile phone industry.

Shunwei Capital invested in many mobile phone supply chain companies after Lei Jun founded Rice.

Cheng Gang asked back: "Mr. Chen, when your company buys Qualcomm's patent license, will Qualcomm charge fees in steps?"

Qualcomm generally sells chips, and then charges a package for other patents.

"The brain-computer connection patent of Kechuang Bio is currently the only commercially available brain-computer connection patent on the market. I think it is completely reasonable to enjoy an appropriate premium."

"Relying on our Chinese-language brain-computer to connect to mobile phones, OPPO has made a lot of profits in Greater China."

Generally speaking, the proportion of high-end Bluetooth headsets launched by mobile phone manufacturers is less than 20.00%.

And after the launch of the brain-computer connection mobile phone, the proportion of buying brain-computer connection headphones is almost [-]%.

Almost all major mobile phone manufacturers operate in this way.They also set it up so that only their own brain-computer is connected to the mobile phone and can only match their own earphones.

If the user uses other brain-computer connection devices, mobile phone manufacturers say that there will be no restrictions, but in fact it will make your operation become stuck.

Rice has been building momentum in the field of public opinion to gain a firm foothold in the high-end market, but OV, who is doing things silently, occupies a lot of the high-end market that Huawei has withdrawn from.

On the contrary, I have always emphasized that only the rice in the high-end market has a high price every time I have to repeatedly emphasize to users how cost-effective and technical it is, so it is so expensive.

The target consumers of high-end mobile phones do not care about cost performance.This is where rice is very contradictory.

Regarding the second phase of brain-computer connection patent authorization, the major mobile phone manufacturers have privately coordinated and tried to advance and retreat together, trying to delay and avoid too much price increase this time.

"If you agree to Kechuangbiology's request this time, then the price will be raised to [-] next time, and [-] next time!"

"You must know that Qualcomm's 5G patent fees are not so exaggerated! Do we have to accept such a high patent licensing fee?"

Qualcomm's 5G patent licensing fee is 60.00% of the sales price of each mobile phone multiplied by 5.00%.

"We're going to be consistent."

Everyone privately said that they would resist the monopoly of Kechuang Biology, but it turned out that Samsung was the first to sign a patent licensing contract.

In order to occupy the high-end market in Europe and America before Apple, Samsung directly signed the patent licensing fee of 500 yuan.

Before the news that Samsung signed first got out, Dami signed the second one.

When the news of the two signings came out, the Alliance to Resist the Hegemony of Sci-tech Biomonopoly came to an end before it was established.

After the disclosure of the new brain-computer connection patent licensing agreement of Kechuangbiology, the outside world can see the huge profits of monopoly.

A one-time price increase of [-]% without a counter-offer.

This is an excellent science popularization for science and technology as the primary productive force, making Huaguo realize why we have to climb the upstream of the industrial chain.

It also made everyone realize how valuable monopoly technology is, and the news quickly detonated the circle of public opinion.

Pharmaceutical stocks have been under pressure for 22 years, and their valuations have been double-killed from the news side to the capital side.The previous core track does not seem to be so core, and the pharmaceutical companies that seem to have technical content do not seem to have as much technical moat as everyone imagined.

Also as a company in the pharmaceutical sector, Kechuang Bio will also be suspected by institutions and retail investors, wondering why it can enjoy such a high valuation?
Big V on Xueqiu posted a long article discussing this issue,
"With the recovery of the news, science and technology, which had been falling sharply for several days, finally became popular, and today it is a long-yang line with volume and returned to 2000 yuan.

It is rumored that the unit price of the brain-computer connection patent authorization of the English Department of Kechuang Biology is 500 yuan. The news has not yet landed, and Kechuang Biology has not yet issued an announcement.

But in terms of trading volume, it should be true. The unit price retail investors of Kechuangbio cannot support such a large volume.

Today I want to talk about whether the valuation of trillions of rmb of science and technology innovation is worth it.The Ningde era reached its highest valuation in December last year, with a market value of 12 trillion.

现在回落后估值还有1.2万亿。而宁德时代20年净利润只有50亿元，科创生物21年全年的净利润在100亿左右。

Everyone will say that the Ningde era has high expectations and high growth. In the future, the penetration rate of new energy vehicles will further increase, so the Ningde era can enjoy high valuations.

But if you think about it differently, isn’t science and technology innovation high-growth?Regardless of his innovative drug pipeline, the net profit growth in the past two years is expected to exceed [-]% in the field of scientific innovation and biological brain-computer connection.

Originally, the market expected to complete the research and development of the brain-computer connection of the English Department this year. As a result, Kechuang Bio completed the research and development goal that should have been completed throughout the year in January.

That is to say, the profits of Kechuangbio in this area can be released in advance, just as the production capacity of high-end mobile phones of major mobile phone manufacturers has not yet started this year, the profits in this area are worth looking forward to.

As a minority shareholder of Kechuang Bio, I have been holding Kechuang Bio since its listing until now, and I have increased my position in the past two days.

I have more expectations for it, not only the brain-computer connection to the mobile phone, but my expectation for Kechuangbio is that it can truly break through the boundary between cyberspace and real space through brain-computer connection, and land the metaverse together with other Huaguo companies .

I hope that the next industrial revolution will be initiated by Huaguo, and we can occupy the upper reaches of the industrial chain.

This expectation is of course very false. To be honest, it is now the brain-computer connection technology of the English department, as well as the Japanese, Korean, Arabic and Russian departments.

The progress of brain-computer connection technology research and development in these languages ​​will definitely exceed expectations.

In addition, the brain-computer connection prosthetics that Kechuangbio is making. The demo video they officially released recently has a very obvious effect. I personally compared similar videos abroad, and I feel that the prosthetics of Kechuangbio are obviously more flexible.

After the brain-computer connection of these two pieces lands, it can support a valuation of trillions.

As for the pipeline of endorphins and innovative drugs, innovative drugs are currently not managed by Mr. Zheng himself, but are also managed by a team led by Dr. Hua Guo from Pfizer.

With financial support and no pressure on time and performance, I believe that Kechuang Bio can steadily build a systematic drug research and development pipeline.

It is entirely possible to become a pharmaceutical giant that is competitive in the international market in the future.

Therefore, I think the market value of Kechuangbio’s trillion yuan is not overestimated, but underestimated.

The decline these days is caused by the fund's overkill and multiple declines, rather than the company's own logic or performance problems.

And it can be clearly seen that although the stock price has been falling, foreign capital continues to flow in, and the net inflow of northbound funds is hundreds of millions every day.

After the Europa asset management giant released its annual report last year, they also increased their positions in science and technology in the fourth quarter.

Investors who have invested in Kechuangbio need not worry at all, as long as they are ready to grow with great companies. "

(End of this chapter)