Chapter 748 Views on Jingdong (2)

?It seems that Yang Cheng's words are reserved, and Liu Dong is also rare to be at ease, showing an attitude of humbly asking for advice, and even has a signal for help between words, which is really rare. You must know that he dared to face countless media , the existence of choking with Jack Ma on the stage, now he turned down his face to ask Yang Cheng, a young man, for advice, so that Yang Cheng felt that if he couldn't say something dry, he would be sorry for him.

He squeezed his chin and pondered for a while and said slowly, "I don't understand your investment ideas, whether it is Bitauto, Tuniu Travel, or a series of investments such as financial software, Yonghui Supermarket, etc. There is no connection at all. Putting aside the loss of its stocks after you invest in these projects, it is completely useless to Jingdong from a strategic point of view.

If you have to be serious, it seems that only Yonghui Supermarket has a little supplement to Jingdong's industrial chain. After all, it is not difficult to see from this investment that you plan to return from online to offline, and even your strategic intentions go hand in hand.

But those other investments, IMHO, if it were me, I wouldn't do it at all. "

Liu Dong's face was as dark as the night, and the milk tea beside him could even feel the repressed anger and helplessness of his fiancé.

Now that Yang Cheng has opened up the chatter box, he naturally doesn't care so much. If he wants to ask for advice sincerely, he has to stand up to criticism. Of course, he doesn't think he is so good. He can educate this legendary entrepreneur, but just stands on the sidelines. In fact, it can see the essence of things better.

"And from the perspective of Wall Street, for a company with a history of 12 years, the tenure of Jingdong's management team is not long. Will there be problems with inexperience? Or the relationship between your management is not harmonious. ? There is even a power struggle? This is the most worrying thing for Wall Street investment banks, after all, the stability of the management plays a vital role in whether the company can develop positively."

Yang Cheng's words really hit Jingdong's point. Liu Dong's face warmed up, and he was no longer as stinky as before. After all, Yang Cheng had completely rejected his investment before. This is for him with strong self-esteem It's hard to accept.

But then Liu Dong sighed in his heart about the management's opinion. It's amazing. It's worthy of being a descendant of a family who can gain a foothold on Wall Street. When he doesn't know much about the group, he directly points out the problem, and his vision is really accurate.

Yang Cheng is right. For a company that has been established for 12 years, where did the early managers of the company go in the past ten years?

Jingdong’s management and staff turnover is indeed very frequent, and they especially like airborne. Most of the executives who come by airborne come from foreign companies, and there are not a few who leave because the culture is not suitable. On the one hand, these executives are attracted by professionalism, and on the other hand. On the one hand, it is also due to international considerations, but Jingdong’s internationalization is not doing well. Whether it is overseas brand awareness or actual overseas business development, the former head of international business dug from Warwick with high hopes has also been forced to resign. .

Liu Dong also gradually realized this problem, but there was no way around it. The old man who followed him was slowly unable to keep up, but the newly joined professional strongman did not agree with his personal philosophy, and it was difficult to knead them into a whole. It also made Liu Dong question professional managers, which is also the root cause of the current situation.

Yang Cheng was still talking, "In addition, people within your group have been selling Jingdong shares, including major shareholders and yourself. Your equity has been being diluted. I don't know if it's because you are short of money or something. This will also make Wall Street doubtful, even the founders have begun to cash out, why do we still keep the stock?"

Liu Dong quickly interrupted and explained, "Jingdong is ready to repurchase 1 billion US dollars of stock."

But Yang Cheng waved his hand, "It's useless, if you don't implement the repurchase initiative, Wall Street's doubts will not decrease for a day,

The big investment banks are okay, they can afford to wait, but the small investment banks are all rudderless. If the wind is not good, don’t expect them to stand by. No matter what happens afterwards, run away to save your own life. "

Liu Dong smiled wryly and shook his head, Yang Cheng was right.

"Actually speaking, the continuous decline of your stock price is ultimately due to your own lack of hematopoietic ability. When a company continues to raise funds from shareholders and creditors, especially when the company has been established for a long time and is still losing money year after year, it is worth it. Attention has been drawn.

In particular, you Jingdong has always had a great appetite for financing from the capital market, creditors and shareholders. If I remember correctly, since 2009, Jingdong has raised nearly 10 billion U.S. dollars, and the company's net cash flow is almost It mainly comes from financing, and even now it has to rely on extracorporeal blood transfusion to maintain life, which is really incredible.

Of course, this does not rule out the possibility that you and your group are playing a big game of chess. Then I don’t know. The above is my understanding of Jingdong. I hope it can be of some help. "

As soon as Yang Cheng finished speaking, Liu Dong raised his wine glass and thanked with emotion, "Thank you, thank you from the bottom of my heart, it's not like no one has said similar things, but I haven't listened carefully and thought about it. Listening to your words is better than reading ten years of books."

"I don't dare to take it seriously, it's just a little bit of humble opinion, and it's all superficial. It can't be taken seriously. It's an honor that Mr. Liu is willing to listen to me."

The two exchanged polite words, clinked glasses to finish off the wine in the glass, Liu Dong said in a joking tone, "It's a pity that Mr. Yang has no investment business in China, otherwise we will have a great chance of becoming a partner."

These tentative words were laughed off by Yang Cheng. Before he was reborn, Jingdong had always been a trap. Although on the surface it started to make profits and the stock price soared, in fact, Jingdong's fundamental problems remained unsolved. It can be solved, the so-called profit is only obtained through financial means and forced from consumers, which is not a long-term solution.

Of course, Yang Cheng didn't know that after his rebirth, Liu Dong was involved in a sexual assault lawsuit in the United States. If he knew, he wouldn't have jumped into the trap.

How could Liu Dong know so much at this time? Seeing that Yang Cheng didn't answer, he just thought it was because he was unwilling to invest in Jingdong. As Jingdong grows bigger, let's see if you will rush to beg me when the time comes.

Such a naive idea should not appear in a successful entrepreneur like Liu Dong, but at this moment, facing Yang Cheng who is superior, Liu Dong really thinks so.