Why financing material exposure to prop up the high valuation of millet

As one of the most talked about company unicorn, millet listed is recognized as the world's largest listed 2018 case, although always calm attitude towards the IPO, millet, but the company's listing process, conditions and revenue expansion plans all the time in the spotlight。
Beijing Daily reporter was informed that on March 15, before the millet public financing promotional material for the first time exposure, the material of the current valuation of $ 68 billion millet, millet listed on the assumption that the fourth quarter of 2018, the market value of $ 85.4 billion -1351 million , a true millet is about to be unveiled。 Income structure exposure according to the exposure of the promotional material, millet up to 1 day active users.3.2 billion monthly active users 1.6.5 billion daily average users time was 312 minutes (5.2 hours)。 In daily active user accounts for the percentage of monthly active user data, it ranked first millet 80%, higher than the micro-channel ranked second by one percentage point more than third place FaceBook (Asia) of 60% is 20 percentage points higher。
Material also showed a loss of millet 9, 2015.800 million profit in 2016 9.$ 1.3 billion profit in 2017 is expected to 75.8.2 billion yuan, profit margin of 6.5%, to 2019, net profit will reach 188 millet.3.1 billion 2016-2019 year compound average growth rate of millet net profit by 174%。
Millet in the composition of income in 2016, 79% comes from hardware, 21% from the Internet services business。 Net profit was only 2 hardware business.8%, while net profit margin Internet services business is more than 40%。
Millet is expanding the proportion of Internet services revenue in 2017 is expected millet revenue of $ 17.6 billion, which accounted for the hardware business revenue was 68.3% is expected by 2019, the proportion of Internet services business revenue will exceed hardware revenue, then millet revenue will reach $ 38.2 billion。 Materials also performed valuation of millet。 If the listing of millet in the fourth quarter of 2018, the market capitalization of between $ 85.4 billion -1351 million, but did not give millet respond to such information。
But in November 2017, millet, chairman and CEO Lei Jun has said that it has completed 100 billion yuan (about 158.$ 300 million) sales target。 No material exposure in financing long ago, millet listing of progress came new version again。 One of the news that millet will be landing HKEx in the third quarter of 2018, becoming the first listed company in Hong Kong shares with different rights。 March 14, Haitong International Vice President and Chief Executive Officer Chung Lin told the media that Haitong International will continue to communicate with Lei Jun, he is also planning to fly to Beijing recently with the management, executives and millet do further communication。
An informed source told the media, "the Commission has worked with the top interviewed Lei Jun, millet is now more mature, hope to be back (A-share listed)."。
While promoting the market, Lei Jun began to decentralization。
March 13, Cheetah Mobile announced that Lei Jun has submitted his resignation the board of directors, as chairman and director positions, will serve as consultants。
Cheetah Mobile CEO Fu Sheng will take over as chairman Lei Jun, a real helm。 2017 Annual Lei Jun has resigned the post of chairman of the era gathered, transferred to consultants and hold equity voting rights entrusted to the chairman of the era gathered Li Xueling。 In this regard, the view that this is Lei Jun hope millet on the market before, try to avoid excessive related party transactions questioned。 Performance bottomed out, "Why is everyone so concerned about the high degree of millet, high valuation is of course the one hand, on the other hand it is tenacious。 "Big Data analyst Liu Dawei Chi police with respect to the Beijing Daily reporters," Millet implemented in mid-2017 sales bottoming out, which is very rare in the course of development of smart phones, it is worth learning and tribute。
"By 2016, millet mobile phone sales have fallen sharply, annual shipments fell 36%, even once fell out of the top five worldwide, the company's development has also exposed many problems。
For the revitalization of millet, Lei Jun in the same year originally responsible for the development and supply chain Zhou Guangping transferred, personally responsible for the development and supply chain, channel aspect by Lin Bin, president of millet to carry out large-scale offline stores, to force the Indian market。
2017 A year later in July, Lei Jun said the second quarter of 2017, mobile phone single-season shipments of 23.16 million units, setting a record high in 2017 released a series of millet and millet 6, MIX2 and other products in an open letter, experienced dormant for a year, millet achieve bottoming。
"Millet's counter-attack, mainly due millet in the supply chain to enhance the above。
In fact, the reason why millet 2016 sales have fallen sharply, not because of millet phone users abandon, do not want to buy, but loopholes in the millet supply chain management, including some of the first half of 2016, long-term product in short supply, and frequent outbreaks quality problem。
With the mid-2017 after the LEI millet personally take over the management of the supply chain, you can see, millet sales returned to normal growth in the state。
"Liu Dawei think so。
After bottomed out period, in addition to replenish the supply chain, but Lei Jun also corrects his "triathlon" theory, the "software + hardware + services" upgraded "new retail hardware + Internet +", the new territory of the integration of new retail under the original millet net electricity supplier channels and lines of force are channels millet house。
Millet two-year plan to open 1000 Millet future home。 Lei Jun in the 2017 mid-fourth quarter, said millet home to 2018 will begin heavy volume, will not help millet absolute performance in two years。
Millet home team, KPI Lei Jun is given revenue exceeded $ 10 billion over five years。
Easy to expand overseas in the last mid-2017, in addition to the complete counter-attack, millet is still running all the way internationalization process。
2017 international mid millet even be considered a pleasant surprise。
In the 2018 annual meeting of millet, Lei Jun is proposed, millet international business achievements made so far is just the beginning, the global market territory, as well as large gaps in the market is waiting to open up。 Therefore, millet 2018 not only to give support in terms of strategy, resources, localization of product development, but also to send more elite forces around the world directly to Kaijiangtuotu。
According to several research agency data show that since mid-2017 third quarter, millet mobile phone sales have been two consecutive quarters first in the Indian market。 In Indonesia, Myanmar market, millet phone market has entered the top three。 For European markets, millet are more cautious, a month ago, millet House officially open for business in Barcelona's first store, but the store is not the millet outlets but authorized stores。 For the US market, Lei Jun has revealed this point in time by the end of 2018 or early 2019。 An anonymous industry sources told Beijing Daily reporter, "millet overseas markets main advantage is price and value for money, you know millet in the highly competitive domestic market, whether mobile or TV products, it is highly cost-effective one of the main advantages of the product, that advantage to overseas markets become more prominent. "。 He further said, "millet internationalization of difficulty is also very prominent, in addition to the different policies of different countries abroad, need to develop appropriate marketing strategies to adapt, the biggest problem is that patents, millet phone early in the overseas market mainly due to the frequent snags here, along with millet and Qualcomm and Microsoft reached an important patent licensing agreement, was able to ease, but the core technology is still the main column difficulty off the coast of the domestic mobile phone manufacturers to enter the market. "。 Beijing Chinese Commercial News reporter Wei Wei / text poplar / tab。