When the gambling came to the fifth year of the announcement, Xiaomi finally successfully entered the HKEx. The performance data disclosed in the prospectus is that the revenue of Xiaomi in 2017 exceeded 100 billion, reaching 114.625 billion yuan, a year-on-year increase of 67.5%.
In Dong Mingzhu, Lei Jun’s five-year, one-billion-year gambling commemoration of the 142th day of the countdown, Xiaomi once again did not hide his ambitions in the smart home and the Internet of Things, and announced in a big way to enter the air-conditioning field, directly into Gree and even once Allies - the hinterland of the United States.
Although air-conditioning is a novice, Xiaomi started out as an Internet mobile phone, and it has generated 100 billion yuan in revenue in just seven years. The high-efficiency retail rules and Internet play that Lei Jun believes are not a deterrent to traditional manufacturers.
Time Weekly reporter learned that this is the third time in the history of Xiaomi to enter the air-conditioning field. Compared with the previous two tests of water, this time it seems to be more emboldened and more prepared. The reason lies in the technical force behind the shift. Shifting '. Xiaomi air-conditioner behind the scenes, is actually from the air-conditioning industry has the name of 'Whampoa Military Academy' Gree Electric. Standing behind the Xiaomi air-conditioning soul and 'key Mr.' Xiao Youyuan, the last venture, it is from Gree Skyworth, the Skyworth air conditioner has been built from scratch. On the road to accelerate the air conditioning, Xiaomi actually adopts the means of 'curving the country' and 'curving overtaking'.
And the same dramatic as Lei Jun’s digging into the air conditioner, as early as the beginning of 2015, Dong Mingzhu announced that he had broken into Xiaomi’s base camp, the smart phone field. Although Dong Mingzhu once claimed to be the best mobile phone, 'three years’ The words of "killing Xiaomi" are released from time to time, but so far on the various sales lists, Gree mobile phones are still hard to see.
With the five-year period approaching, the outside world’s focus has returned to the 1 billion gambling contract between Lei Jun and Dong Mingzhu. When Lei Jun was busy re-reforming Xiaomi and busy helping Xiaomi to go public, Dong Mingzhu was exhausted. It is Gree's multiple dreams, making mobile phones, building cars, investing in chips, and slamming Highly shares for further extension in the compressor industry chain. Dong Mingzhu leads Gree to non-stop into one new field after another. Lei Junhe Who is more worried than Dong Mingzhu? The mystery of the 'century gamble' that has lasted for five years is about to be revealed. Who will laugh at the end?
Gree team behind the millet air conditioner
On July 23, at the time when the '1 billion gambling contract' was about to be honored, Xiaomi suddenly released a high-profile Mijia Internet air conditioner with a price of 1999 yuan. In the eyes of many netizens, Xiaomi directly entered the air-conditioning field in Gree. Very provocative.
In fact, this is not the first time that Xiaomi has entered the air-conditioning field. As early as 2015, Xiaomi launched the first 2,699 yuan 'i. Youth Smart Air Conditioner' after the high-profile shareholding in the United States. In August 2017, Xiaomi The ecological chain enterprise Zhimi Technology once again released a 4399 yuan full DC inverter air conditioner, jointly developed by Zhimi Technology and Changhong Air Conditioning, and produced by Changhong Air Conditioning.
Changhong confirmed to the Times Weekly reporter that the latest Mijia Internet air conditioner is still manufactured by Changhong, but the information on the order is not disclosed.
Xiaomi insiders told reporters that Xiaomi’s air conditioning was actually in the stage of asking for the stone. After two trials, the previous attempts, research and development, sales, and market have all laid the experience for this time. The third time to enter the air-conditioning The difference is that Mijia Air Conditioning has all the marketing, marketing, pricing, and obedience to receive its own system operation, more in line with Xiaomi's style.
Some people familiar with the matter told the Times Weekly reporter that the original cooperation between Xiaomi and the United States was the initial stage of entering the air conditioner. It may not even be an air conditioner, but as a smart hardware, so many preparations are not very full, how? The idea of doing air conditioning is not particularly mature. In simple terms, it is in the running-in period. The two sides have different ideas about intelligent hardware products. There is no clear idea of how to cooperate, so the first one did not get very good sales.
Regarding the sales of air conditioners released earlier, Xiaomi refused to disclose specific data to reporters, but the online sales situation can be seen. Times Weekly reporter saw on the Jingdong platform that a 1.5-level energy-efficient product sold by Zhimi Home Appliances flagship store Full DC inverter air conditioner, priced at 4399 yuan, there are '1000+' comments under the bottom, the favorable rate is 97%; and Tmall, the value of air conditioning sales season, the monthly sales of this air conditioner is about 400 units, the score is 4.8 points or so.
Ou Wei senior consultant Zhang Yanbin told Time Weekly reporter that Xiaomi is doing air conditioning. From his perspective, the first is to lay out the whole house appliances of Xiaomi. Air conditioners are the main electrical appliances of home appliances, and they are indispensable. Secondly, air conditioners are many home appliances. The only category with room for growth, Xiaomi wants to enter the field of home appliances, air conditioning is the most investment value; third, after Lei Jun and Dong Mingzhu bet, Dong Mingzhu entered the field of mobile phones, in order to 'demolition of each other', Xiaomi Leijun Will enter the field of air conditioning.
It is worth mentioning that the reason why Xiaomi entered the air-conditioning field for the third time is more than enough. The key lies in the technical soul behind. Xiaomi has adopted the 'curve to save the country' on the road to accelerate the air conditioning. ' s method.
The intellectual chain company Zhimi Technology, which belongs to Mijia Air Conditioning, actually has another important partner, Zhuhai Sanyou Environmental Technology Co., Ltd. Times Times reporter consulted the industrial and commercial materials and learned that the company’s legal person is the co-founder of Xiaomi, Xiaomi Ecology. Chain manager Liu De, the company's registered capital is 10 million yuan, 100% holding by Beijing Xiaomi Mobile Software Co., Ltd. But the company's business record shows that the former founder and legal person is Xiao Youyuan, registered in March 2017 Capital changed from the original 500,000 yuan to the current 10 million yuan. Xiao Youyuan is currently the manager of the company. This means that the technical background of Zhuhai Sanyou, a wholly-owned subsidiary of Xiaomi, has a certain relationship with Gree Electric.
In 2015, Gree Electric's overseas sales director, cooling expert Xiao Youyuan, with a group of technical backbones, set out to create Skyworth air conditioners from Gree. The core team of Skyworth Air Conditioning is basically equivalent to a scaled-down version of Gree Air Conditioning. Its team members are almost all from The 'Whampoa Military Academy' of the air-conditioning industry and the opponent of Skyworth Air Conditioner Gree. Xiao Youyuan became the president of Skyworth Air Conditioning.
According to an interview with Time Weekly reporter, Skyworth air conditioners grew rapidly. The company was registered at the end of 2014. After half a year, the first air conditioner was successfully rolled off the line. Within one year of its establishment, it achieved a sales performance of 200 million yuan. By the end of 2016, Skyworth Air Conditioning After two years of establishment, Xiao Youyuan passed the news of leaving.
The official website shows that Zhuhai Sanyou Environmental Technology Co., Ltd. is a technology company. It was established in Zhuhai High-tech Zone in September 2016. The company's 2017 annual turnover is expected to be RMB 150 million, including commissioned R&D projects and sales of finished products. The business is to provide specific technology and product R&D outsourcing for domestic and foreign customers, technical guidance for manufacturing process and after-sales technical services, as well as customized high-end electrical products and high-end laboratory equipment for domestic and foreign customers. 40 people, the company has applied for more than 40 patents including invention patents for half a year.
On July 30, Xiao Keyuan, the 'key Mr.' behind Xiaomi Air Conditioning, replied to Time Weekly reporter: 'Actually, Xiaomi’s air conditioning is not a game of play or bet, but a real industry, with a long-term perspective. Planning and long-term considerations. At the same time, the competitiveness of the Xiaomi air-conditioning team is not worse than that of the mainstream mainstream teams in the industry.
Product thinking difference
Xiao Youyuan did not want to comment on the reporters. In his opinion, Xiaomi, as a latecomer, has both disadvantages and advantages.
'A product can be successful, first need to have a competitive technical team, a recognized brand, better marketing channels and business models, these millet have. Xiaomi plus three friends technical team, both good hardware The team, professional air-conditioning team, and the deep integration of Xiaomi's smart home and Internet model, to a certain extent, is a strong combination. This is the competitive advantage of Xiaomi air-conditioning.
Gree and the United States refused to comment on the competing products of Xiaomi.
Zheshang Securities Research Report pointed out that the ambition of Xiaomi's air-conditioning layout lies in smart home. In the future, Xiaomi will continue to leverage various domestic air-conditioning capacity to launch various types of Internet air conditioners, and use air-conditioning as a model to integrate many LoT devices of Mijia, so that Xiaomi Intelligent The home forms a closed loop of service. If it is, Xiaomi smart home will be the next city; if it fails, Xiaomi's light asset operation will not be overweight. This is also the core growth path of Xiaomi mobile phone and TV in the past few years.
The Xiaomi prospectus shows that in 2017, IoT and consumer goods revenues were 23.4 billion yuan, accounting for 20.5% of total revenue. IoT and consumer products revenues are mainly from own products, including smart TVs, laptops, artificial intelligence speakers, and intelligence. Routers, etc., and the sale of eco-chain products. The 'iron trilogy' business model of 'hardware + new retail + internet service' is regarded as a source of high valuation of Xiaomi.
According to Liu Buchen, a senior home appliance industry analyst, Xiaomi’s success is essentially the success of the business model. The success of the so-called business model is that it is almost the first enterprise in China to operate hardware completely according to Internet thinking, which makes it win. A lot of young people love it. But it is worth noting that at the product level, Xiaomi still can't talk about big innovations and breakthroughs.
On the other hand, Xiaomi’s famous opponent, Gree Dong Mingzhu, began to cross-border mobile phones in 2015. Dong Mingzhu also gave birth to 'Geli mobile phone, killing Xiaomi in minutes'. 'Gree mobile phone will not be bad for three years' and so on. '. However, it turns out that after several rounds of iteration, there is still no splash of water.
Liu Buchen believes that it is not practical to use the thinking of mobile phones to do air conditioners and air conditioners. It is very difficult for Xiaomi Air Conditioner to squeeze into the mainstream camp with an annual sales volume of 6 million sets.
Who has more chances in the 1 billion gambling bureau?
The incident dates back to December 12, 2013. At the CCTV Annual Economic People Ceremony, Lei Jun and Dong Mingzhu both won the annual economic figures. In the awarding session, due to the effect of the program, Lei Jun, Dong Mingzhu made a decision on the spot. Bet'. Lei Jun said that if the millet model turnover beats Gree within 5 years, Dong Mingzhu would like to pay himself 1 yuan. Dong Mingzhu immediately poured a layer of 'hot oil' on the bet, claiming that if he was defeated, he would be willing to pay 10 100 million yuan.
A joke-style gambling game spread like a virus. For the next two years, Dong Mingzhu was as eloquent as 'Net Red' and personally went to Gree for his endorsement. On the other hand, Xiaomi also experienced a decline in sales and fell to the bottom. , then return to the development curve of the peak.
When the gambling came to the fifth year of the announcement, Xiaomi finally successfully landed on the Hong Kong Stock Exchange. The performance data disclosed in the prospectus is that the revenue of Xiaomi in 2017 exceeded 100 billion yuan, reaching 114.625 billion yuan, a year-on-year increase of 67.5%.
From mobile phones to new energy vehicles, to the first non-dividend, it is necessary to invest heavily in the chip field, and then to the brand Haili shares intends to further extend the compressor industry chain, Dong Mingzhu is actively stabilizing the main business of Gree air-conditioning However, it is constantly seeking expansion. However, mobile phone and automobile projects are not successful from the current status quo. Even recently, Zhuhai Yinlong was also in arrears with suppliers, and many suppliers came to collect debts. Nanjing Yinlong Also heard the news that was seized.
Gree's financial report shows that in 2017, Gree's revenue reached 150.019 billion yuan, a year-on-year increase of 36.24%. Compared with 2017 revenue, leading millet 35 billion yuan. It is worth mentioning that at the time of betting, Gree's sales have been Breaking through 120 billion yuan, Xiaomi's revenue in the 'early period' has just broken 30 billion yuan, and the starting line between the two has nearly 4 times the gap.
According to the Flush data, as of July 30, 2018, 24 institutions predicted Gree's 2018 annual results within 6 months, with an average of 180.7 billion yuan. The 8 institutions' revenues for Xiaomi Group's 2018 revenue. The predicted value is 202.8 billion yuan.
Liu Buchen told the Times Weekly reporter that the gambling on Dong Mingzhu and Lei Jun is the revenue of the two companies in 2018. From the perspective of last year's revenue, Xiaomi may not be able to lose Gree this year. Lei Jun will lose the gamble, but Gree’s The development stamina is not as good as Xiaomi.
'After 2020, Xiaomi and Gree are more than the scale of revenue. I guess the probability of winning Gree will be much larger than now.'