No joy, no loss. November 12 8:40 am, is in play Barbie Cooking Games Hong Kong on a business trip Jingdong Group Chairman of the Board, CEO Jingdong Liu Qiang East through telephone access (NASDAQ: JD) executives morning meeting. As always, he calmly listened to a report on the various lines of business.
People expect him to two-eleven's performance to give encouragement and incitement, but he did not. The day before, his rival Alibaba (NYSE: BABA) achieved single-day turnover of 91.2 billion yuan.
"'Double 11' Is that for a false face it?" In the week before the war two-eleven, Liu Qiang East to "financial" reporter expressed his care for numbers. Two-eleven day, he on a business trip, nor took command.
November 16 evening, Jingdong released third quarter earnings: total transactions (GMV) 1150 billion yuan, an increase of 71%; net income of 44.1 billion yuan, an increase of 52%; net loss of 530.8 million yuan, but the non-US Under generally accepted accounting principles (Non-GAAP) net profit 27 million yuan; two-eleven orders grew 130%. Previously, Alibaba Oct. 27 reported third-quarter results: its season total transactions (GMV) 7130 billion yuan, an increase of 28%, net income of 22.171 billion yuan, an increase of 32%; adjusted non-GAAP Under profit amounted to 9.252 billion yuan, an increase of 36%.
At twice the industry average growth rate trend, Jingdong has become perhaps the biggest rival of Ali Baba, who had more than two-eleven before stop clothes and food brands into the Jingdong sales. In the earnings conference call, analysts asked double eleven price war Liu Qiang East, said:. "Price war has been playing for three years, I think we do not need to waste time to discuss this issue."
He was trying to get myself to become calm, forget that never thought to wear back shoes wilderness Qiang East entrepreneurs, ready to Advanced ideal entrepreneur. His opponent from the new eggs, Dangdang, Suning into Alibaba, and even larger companies, he has fear but go forward. Some say he is more like the original himself - calm, direct, insists that he has continued to express to the outside world, in the past in order to Jingdong brand started to act perverse, vital, this is not true to yourself.
"On the microblogging curse is to vent, but it will organize the breeding sycophant, a war of words, slogans culture." Liu Qiang East microblogging from September 2012 will be updated almost stopped, and now he is more concerned about play Dora Games the organization, strategy and culture, as well as in the electricity business this way, can rebuild a home business Jingdong.
He did not admit that he is entrepreneur, at least now he from global retail business NO1. The dream is still far. But he still thinks Jingdong will become China's largest Internet companies.
Laid down his life running
Like many Chinese entrepreneurs growth path, this year 41-year-old Liu Qiang East was born in Jiangsu in rural, has a very strong desire to get rid of poverty, when students start a business to open a restaurant but so owe a huge debt, but also has a very stout nerves, he Never fear, able to stand up again and again, to accept a severe test.
He is the boss, likes to call the shots and the idea of a firm, between right and wrong is never free. 1996 graduated from the Department of Sociology, Renmin University, two years after the Japanese company, started in 1998 in the Zhongguancun counter swing, he gave himself set the rules: determined not to sell fakes, in 2003, this small company has become the largest magneto-optical product vendors, but in 2004 decided to abandon the line Qiang East, the switch to electricity providers.
In the past few years, Ma created the Ali Baba, and get a $ 1 billion investment in Yahoo, ebay also $ 150 million acquisition of a wholly-owned eBay, Amazon's $ 75 million acquisition of places of excellence, Dangdang have even gone the C round of financing.
When the 2003 Netease founder Ding Lei, China's new richest man, has been shattered Chinese Internet start to recover. If not Qiang East, there will be another person to become China's electricity business leader, this is the choice of the Internet era.
2007 Jingdong get the first financing from today's capital of 10 million dollars, but this time now 3C division president of Wal-Mart is still working. Jingdong was arranged by human resources, he and Liu Qiang East about the interview in Shenzhen, Shenzhen when Liu hurried to see him, because he did not have time, put Liu's pigeons. After a three-month opportunity to travel to Beijing, and Liu Qiang East supra the surface. Liu Qiang East is very straightforward, just say, "laughed loose you can, you fit Jingdong." This gave the king was impressed, because generally the first interview, the employer will say think about each other, and Liu is not so much routine.
2008 New Year's Da entry. "The company grew quickly, funds have been very nervous." Wang said, when the company purchased the day depends on how much merchandise completely before closing the customer how much money, finance is often paid no money to pay wages and salaries to purchase fee. But he rarely saw Liu Qiang East frown, financial decentralization on personnel but not large margin.
On one occasion, Wang Xiaosong holding a 5,000,000 to find Qiang East prepayment single signature, Liu looked up and stared at him: "I have permission to tell you how much you pay as long as you signed, financial money, take the money directly? on the line. "Wang Xiaosong told the" Financial "reporter, he took a single payment turned the moment, tears almost fell down," there is such a boss, you must take the thing into the dry. "
A long period of time, Liu Qiang East Management Company has quite quack gas, he unified call for the company's employees are "brothers", he trusted brothers, but also willing to share, in the early Jingdong logistics staff do have the option to take. But he is also very good face, when many people can not challenge his authority. Years ago, an employee in his opposite hand put on the table to talk, he would take it that the employees towards him pound the table, to expel immediately afterwards were persuaded to give up.
Many people think that Liu Qiang East decentralization because of his extensive simple character, but he is a very careful person knows what they have to. He went to financing, the company first said that he did not say, and their growth history, it is easy to be attracted to the other side of his personality, thereby accepting his company. Wang Xiaosong impression was: "The company always short of money, but Liu always find the money."
Liu Qiang Dong said, he has two special money for the first time in 2008, investors see seven or eight a day, a week to see 42 investors, it was the only time he fears the company will not collapse, it really night Bald, eventually got a $ 21 million B play Baby Hazel Games round of financing; the other one was in 2012, he and Suning price, and Zhang Jindong betting company growth, but also to listen to Dangdang founder Li Guoqing yell "Jingdong funds strand breaks" the same year in November to get 400 million dollars Jingdong D round of financing, and the first year just received $ 1.5 billion in C round of financing.
In the eyes of peers, Jingdong like a huge "swallow the money machine." Since the 2007 decision to self logistics, Jingdong investment in logistics has been more than ten billion yuan. Also that year began, Jingdong began to expand the category, from 3C to books to department stores, but also a ten billion investment. And Liu Qiang East also do not want bigger profits, he must earn to earn 100 80 "high profits will usher in thousands of thousands of competitors." At the same time, he is a cautious type of financial managers, there have been tens of billions of yuan in cash on Jingdong account.
Snowy day, he sat in a warehouse explosion warehouse fine thinking, whether to spend money on Amazon, where, and then understand the truth: the electricity supplier is not a light company, take great efforts to build warehouse logistics, Extension category. Quarrel with him for the investor, even signed a gentleman's agreement with them, "you are either responsible or not to interfere with the results of my administration," and the establishment of AB share structure. He also has endured outsider evaluation of his "silly big thick black", but now the summary Jingdong why flew when exactly will be attributed to this - excellent business layout.
Liu Qiang East "financial" told reporters that he did not want too much talk about strategy, Void, he considered what today's business development needs support, he wants the real user experience. This is slightly different and Ma. Ma gives a grand vision of a century, he cares about is the business of doing business can smoothly; Qiang East has shown to be more like watching 2--3 years thing he cares about is that consumers can not be met.
Staff evaluation Jingdong Liu Qiang East 90 is a head punch dare daring beast, his side's executives believe that this is actually persistent, his first investment in human capital today, founder Xu said he was a "killer entrepreneurs "" others against, he still insisted. "
May 22, 2014, Jingdong listed on Nasdaq in the United States, had a total of about 2.9 billion dollars in financing, listing to raise about $ 2 billion, $ 26 billion market capitalization of the day, Xu new capital today to get 150-fold return on investment . November 18, 2015, market capitalization of $ 39.35 billion Jingdong, Alibaba market value of $ 194.973 billion, a difference between the two is still five times, while 10 years ago only Jingdong Alibaba million.
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