Sprinkle coins every day

Chapter 514 Overseas mergers and acquisitions are frequent, but Zhang Shuo has to forbear and restrain? !

At the beginning of 16, various mergers and acquisitions have been staged one after another.

On January 1th, Mogujie and PrettyShuo merged at a 11:2 stock exchange price. The overall valuation of the new company is nearly US$1 billion, and the prospect looks very attractive.

This can be regarded as another merger and acquisition in the field of Huaxia e-commerce.

Mogu Street was established in 11. It is positioned as an e-commerce website focusing on female consumers. Relying on the fertile e-commerce soil of Mobao, it guides traffic to Mobao with the help of social platforms through content modes such as selection and shopping guide.

thus rapidly rising.

At its peak, Mogujie once provided Mobao with 10% of its traffic, and its own number of users reached 60 million.

This also laid a "solid" foundation for the new company's valuation of US$3 billion.

But only Zhang Shuo knew that this was just a flash in the pan.

When the original Time and Space Mogu Street went public in 18, its market value had shrunk to US$15 billion, which was directly cut in half.Wait until 22 years, the latest market value is less than 20 million dollars.

It's no different than delisting.

.........

The next day, Wanda announced that it would acquire 35% of the equity of Legendary Films of the Beautiful Country for no more than US$100 billion in cash.

After all, Lao Wang still couldn't bear the urge to buy overseas.

Although the acquisition of a mere US$35 billion, it cannot be compared with the previous acquisition of Hitachi Storage and Dongzhi Flash Memory, including the ongoing acquisition of Xianzhengda.

But a single overseas acquisition of over 20 billion is considered a big deal no matter what.

But how to put it—

Lao Wang is still too impulsive, and his investment vision is not very good.

Regardless of other things, when it was acquired by Wanda, Legendary Pictures was burdened with debts as high as more than 90 billion US dollars, and it was under pressure to make profits. It is really not a high-quality asset.

The purchase price of US$35 billion is really a serious premium.

Wanda wants to give it a go, and even plans to integrate Wanda Films and Legendary Films together to develop into a super film and television giant that spans both inside and outside the Chinese market.

The ideal is full, but the reality is very skinny.

At the end of 16, that is, at the end of this year, the movie "The Great Wall" was released. With the results of word-of-mouth and box office smashing the street, it shattered its fantasy of creating a Chinese-style popcorn movie.

It also clearly revealed the smoke of the capital war between Wanda and Legendary Pictures to the world.

Not bad.

"The Great Wall", as Wanda's super gamble, is known as a billion investment, top Chinese and foreign directors, and a Hollywood blockbuster. Under its reputation, it is actually hard to live up to it.

Under the strong escort of the Lunar New Year file and Wanda's film announcement, the final box office was only 11.7 billion, which was far from reaching the return on investment.

The most direct feedback is that Wanda Cinemas has continued to decline, and "The Great Wall" was released for ten days, and the total market value of Wanda Cinemas evaporated by about 54.9 billion. Even grandma couldn't recognize the loss.

Then the CEO of Legendary Pictures resigned suddenly, which further verified the failure of "The Great Wall".

The irony is--

Just half a year after "The Great Wall" fell into the sand, "Wolf Warrior 2" was born.

It can be seen that only "soil" is the most fashionable.

In contrast, whether it is "foreign", "half-earth, half-foreign", or even "earth-like", it is difficult to really win the favor of Chinese consumers.

.........

three days later.

Haier announced that it has reached a memorandum of strategic cooperation with the beautiful country GE Group. The former will acquire the home appliance business unit of GE Group at a price of US$54 billion.

Another overseas merger and acquisition, and the amount is higher than Wanda.

After the acquisition is completed, Haier will acquire all the R&D and manufacturing capabilities of GE home appliances, nine factories in the beautiful country, and logistics and distribution channels all over the world.

GE's idea of ​​selling its home appliance business has actually existed for a long time.

As early as September 14, GE's home appliance department announced its sale to Electrolux. The offer at that time was US$9 billion. After more than a year of investigation, the transaction was stopped by Pretty Country.

Subsequently, GE's home appliance business was re-listed for sale. The buyers who participated in the bidding included Samsung, LG, Haier and Mei. In the end, Haier did not get the GE home appliance business because of the high bid.

This is also not the first time Haier has thought about GE.

As early as 08, there were rumors in the industry that Haier wanted to acquire GE's home appliance business, but GE's value was still too high for Haier at that time.

Some commentators said that Haier's "winning" of GE is a win-win situation.

Zhang Shuo, as someone who has experienced it, is also clear that Haier's acquisition of GE appliances is generally considered a success, and the latter's market share in the beautiful country will continue to rise in the future.

not like wanda
As for the acquisition of GE home appliances itself, how much positive effect can it bring to Haier's global brand influence, global R&D capabilities, and overseas market development.

This is the benevolent see benevolence, the wise see wisdom.

.........

But no matter what, Wanda and Haier launched overseas mergers and acquisitions one after another, coupled with the acquisition of Xianzhengda that Bud is participating in, it still sparked a wave of discussions on the Chinese Internet about companies going overseas.

"Wanda can!"

For the [-]s and [-]s, in the field of cultural industries, Hollywood is definitely one of the iconic symbols of overseas strong cultural exports.

Wanda's acquisition of Legendary Films is a kind of reverse acquisition and counterattack.

Naturally, it makes some people feel excited!

"Compared to Wanda's acquisition of Legendary, I appreciate Haier's acquisition of GE appliances more. After all, manufacturing is the foundation. The so-called cultural industry can only be regarded as icing on the cake at best."

"That's right, it's like the acquisition of Xianzhengda that Mengya participated in."

"There's no need to praise the highs and depress the lows, right? It's all overseas acquisitions, wouldn't it be good to have more blooms? Let's look forward to the industrial blockbuster launched by Wanda and Legendary Films this year."

On the Chinese Internet, there are still many people who have some kind of "belief" in Hollywood.

Unbreakable even.

.........

Monday, May 1.

At the meeting, Senior Vice President Lu Qi reported a piece of news, "I participated in the board of directors of Tenda Video last week and said that the spin-off and listing plan of Tenda Video was hindered."

"Oh? What's the reason?" Zhang Shuo asked curiously.

"One is the protest of small and medium shareholders of Tenda, saying that Tenda's spin-off of Tenda Music has violated the interests of small and medium shareholders. Now it is even more intolerable to spin off Tenda Video."

Many of Tenda's major shareholders are also shareholders of Tenda Video.

in contrast.

A large number of small and medium shareholders only hold Tenda shares and only enjoy indirect benefits from Tenda Video.

It's natural to feel violated.

"One more thing, in the eyes of investors, Tenda Video does not have any particularly prominent advantages over Qiyi Video, Heyi Group, and Pessimism Video, and its future development is full of great uncertainty."

Especially with the acquisition of Qiyi Video by Qinghe Group, the involution in the field of long video has become even worse.

No wonder investors are not optimistic about Tenda Video.

However, with Tenda's resilience, it is estimated that the follow-up will continue to promote the spin-off and listing of Tenda Video, otherwise, it will be a serious setback to its big entertainment strategy.

This is the current Tenda, which is unacceptable anyway.

Subsequently.

Lu Qi also reported the progress of Qiyi Video’s search for TV manufacturers’ partners. “We are already talking about domestic mainstream brands such as Haixin, TCL, Skyworth, and Haier. The most active one is Haier.”

"Hale?"

Zhang Shuo was a little surprised. In his impression, Haier is most famous for its refrigerators, and TV doesn't seem to be its strong point.

"It's like this..." Seeing this, Lu Qi explained: "Haier probably hopes to establish a relationship with Qinghe Group and even Mengya through the cooperation with Qiyi Video, and wants to be in the field of smart home appliances. We have reached a strategic cooperation."

"So it is."

Suddenly, Zhang Shuo remembered that at last year's Internet conference, the founder of Haier had proposed the idea of ​​"interconnection" and had a short conversation with Tan Yunsong in the middle.

It turned out that the foreshadowing had been laid long ago.

Reminiscent of Haier's recent acquisition of GE appliances, it is not difficult to see Haier's expansion ambitions.

It is also very strategic.

"We can cooperate."

Zhang Shuo didn't think too much, and nodded in response, "In the early stage of the research and development of the Xiyang system, the general tone of interconnection was set. It is also time to start the connection with smart home appliances."

Previously, in order to speed up the research and development progress of the Xiyang operating system, the system was split into various subsystems, which were applied to mobile phones, tablets, laptops, smart watches and VR glasses.

And just in the second half of last year.

Xilang Technology has already started the system integration of the three major platforms of mobile phones, tablets, and smart watches, and will continue to integrate laptops, desktop computers, and VR glasses in the future.

Smart home appliances are naturally within the integration scope of the information system.

"Chairman, I have an idea."

Gu Mingzhang, the senior vice president, interjected at the right time and said: "Look, we have the Xisoil system, Maili Group has also accumulated strong manufacturing capabilities, and at the same time, we have a platform like Qiyi Video, so we don't lack anything."

"In that case, is it possible to consider referring to Pessimism's model and produce smart TVs by yourself?"

Gu Mingzhang didn't do it on a whim.

Among many mobile phone manufacturers, Xiaomi has been producing smart TVs for a long time, and Huawei is also following up.

Since this is the case, it seems logical for Maili Group to enter the smart TV track, and the conditions it has will only be more favorable than Xiaomi and Huawei.

If you think about it more carefully, there is even a smart manufacturing platform such as Walli Zhizao under the banner of Germination.

It is simply blessed.

"Never mind."

Zhang Shuo shook his head, "Smart TV is indeed a good track, and I also believe that Maili Group can do a good job. But, in terms of product diversification, Maili should focus on the consumer electronics field."

"In order not to dilute the brand value of Maili, but also dilute the research and development focus of Maili."

After any company has developed to a certain scale, it seems to be a very logical thing to take a diversified development path when it is stuck in a growth bottleneck.

But this is not really the optimal solution.

Because of diversification, it often means that the company's organizational structure, business lines, etc. will become more and more bloated, which will not only dilute the brand influence, but more importantly, it will distract the focus on the main business.

If one is not good, diversification may fail, and the main business may instead be in crisis.

There are countless similar examples.

Of course, as Gu Mingzhang said, Maili Group has unique conditions to enter the smart TV track, and it is unlikely to affect the main business of consumer electronics.

But the problem is-

If Maili Group makes a start now and enters the smart TV track, will it be able to enter the field of smart speakers, smart refrigerators, smart air conditioners and other household appliances in the future?

The truth is the same!
Once the head is opened, there is no turning back when the bow is opened.

Still take the example of Xiaomi mentioned by Gu Mingzhang just now. In the original time and space, Xiaomi has made bold attempts on the road of diversification, doing everything from TVs, speakers, sweeping robots, and air conditioners.

The follow-up even focused on the new energy vehicle track.

Among them, Xiaomi TV, which focuses on high cost performance, even reached the top of the Chinese market in sales, surpassing traditional TV manufacturers such as Hisense and TCL.

But if you look closely at its profit margin, it's hard to say.

Analyzing Xiaomi's financial report, it is not difficult to find that although Xiaomi has flourished in the diversified track, the absolute main force of revenue is still from the mobile phone business.

Other products looked lively, but did not really boost revenue growth significantly.

On the contrary, OV, which has been focusing on the smartphone track, has shown more restraint than Xiaomi in this area, and knows how to concentrate resources on the research and development of the mobile phone sector.

The follow-up performance in the high-end market is actually better than that of Xiaomi.

This is all a lesson!

Conversely, it is precisely because Xiaomi's main business is the smartphone segment, the profit margin is too low, and it has never been able to break through to the high-end market. In order to maintain revenue growth, it was "forced" to choose a diversified business strategy.

Including Xiaomi's follow-up car manufacturing is also based on the same logic.

The problem is that Maili is different from Xiaomi. Now it has reached the top of the global high-end smartphone track, with a scary high profit margin, and future revenue growth will not be a problem.

The sales of its tablets, laptops, smart watches and other products are also increasing year by year.

There is no trouble for Xiao Mi at all.

Since this is the case, the grains of wheat should not be wasted. We must learn to properly control our desire for "diversification", concentrate our energy and resources, take root in the consumer electronics circuit, and continue to bring better products to consumers.

Instead of pursuing revenue, engage in smart TVs.

Like GE Group, in order to focus on its main business, it even did not hesitate to sell its home appliance business to Haier. Maili Group has no reason to say that it should do the opposite.

There is another very important reason why Zhang Shuo disagrees with Maili Group entering the smart TV track.

That is--

Chinese TV manufacturers represented by Hisense, TCL, etc. have already done very well, and their standards have reached the world's leading level, and they are even exploring overseas markets.

Since this is the case, there is really no reason for the Maili Group to join in the fun.

"Of course!"

Zhang Shuo changed the subject and said with a smile: "Mai Li Group does not need to enter the smart TV track, but it does not need to sit on the sidelines. As we have seen, the home appliance industry is ushering in a profound transformation of intelligence."

This is the trend.

"Mai Li Group can completely rely on the accumulation of Germination in this area, use the soil system as a platform, integrate the resources of Qinghe Group, Fertile Soil Research Institute, Xingyun Group and other aspects, play an enabling role in it, and provide home appliance manufacturers Provide a full range of software services."

The core of intelligence is software.

Otherwise, the founder of Haier would not have approached Tan Yunsong at the previous Internet conference.

"Understood!"

Gu Mingzhang was also enlightened by the big boss.

He was indeed a little greedy.

(End of this chapter)