What Has Dragged Down The Growth Of Jingdong Itself?

< p > here the world is < a target= "_blank" href= "http://www.91se91.com/" > dress < /a > a target= "_blank" href= "_blank" > shoes "< > hat net" Xiaobian "for everyone to introduce is hand in hand Tencent did not expect Jingdong to sounded the performance alarm.

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< p > analysis shows that Jingdong, which is losing money, is facing more and more constraints and challenges. Although its cooperation with Tencent has succeeded in raising valuations before its listing, at present, the effectiveness of this cooperation is only limited to lifting valuation and failing to produce any effect on the actual business of Jingdong. Even because of the weakness of the original e-commerce business of Tencent, the integration is too large to drag itself up.

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At P on Friday at 8:00 p. m. Eastern time, Jingdong will announce its first earnings report after the opening of the US stock market in IPO.

With the imagination brought by cooperation with Tencent WeChat, Jingdong's share price has risen from $19 to $30.

However, according to the latest data released by Eri consulting, the share of Jingdong in the 2 quarter of 2014 did not rise or fall, and the market growth rate was far below that of peers.

This led investors to worry about Jingdong's first earnings report.

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< p > Ari's latest "2014Q2 China online shopping market paction scale report" shows that Tmall's market share is 57.3%, its growth rate is nearly 7% compared with Q1, and it continues to lead the B2C shopping market. Jingdong ranks second in the market share of 21.2%, and the decrease is 2.1%.

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< p > in Jingdong's latest China 2014Q2 online shopping market scale report, the Jingdong, which has access to the first level import of Tmall, is a big surprise. Its share is not up or down, the ratio is down by 2.1%, the 21.2% row is second, and the gap between boss and Tmall is further widening. The market share of the latter has increased by nearly 7%, accounting for 57.3%.

What is even worse is that Jingdong's share is combined with the result of QQ online shopping, in other words, the share of Jingdong itself slipped more than 2.1%.

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< p > data show that in the 2014Q2 online shopping market of China, the scale of B2C market pactions is 284 billion 500 million yuan, accounting for 45.2% of China's total online shopping market scale, which is 6.7 percentage points higher than that of 38.5% in the same period in 2013.

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Less than P, Tmall's strength is not new.

But access to the first level WeChat entry, the two quarter just completed the listing of Jingdong, but on the growth rate, but vip.com, Gome online, shop 1 and other peers, the decline in market share, the outside world was surprised.

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Less than P, Tencent has become the most enviable dowry for WeChat.

If the entrance obtained by the reviews is still hidden, the entrance to the two level is in the "wallet", so the entry from the Jingdong is better. It is parallel to the game at the first level entrance "discovery". However, the entrance is still unable to boost the share of Jingdong.

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Less than p weeks later, the contribution from WeChat shopping channel seems to have declined after the a href= "http://www.91se91.com/news/index_s.asp" > Jingdong < /a >.

Nomura Securities estimates that due to the conflict of interest between Jingdong and Tencent or the lack of operational experience of this channel, the contribution of this channel to the total amount of Jingdong merchandise trade (GMV) is only one digit.

"In the current valuation of Jingdong, the good cooperation with Tencent has been overestimated."

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< p > Nomura Securities has issued a "holding" rating and a target price of $27 for Jingdong, which is already lower than Jingdong's current stock price.

As the market's valuation of Jingdong and WeChat's cooperation is rational, Jingdong's share price will suffer considerable downward pressure.

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< p > according to information learned by Nomura Securities from Jingdong supplier, Jingdong has already put pressure on suppliers after IPO to maintain its gross profit margin in order to maintain its gross profit.

Therefore, although the overall growth rate is not as good as the market, the gross profit of Jingdong in the two quarter may exceed expectations.

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< p > in August 13th, Tencent's Q2 earnings report showed that its e-commerce business income in the second quarter was 48% lower than that in the first quarter of 2014.

According to the analysis, the decrease of Tencent's e-commerce revenue is mainly caused by the strategic paction with Jingdong, resulting in the pfer of traffic and the divestiture of Tencent's e-commerce platform business.

But for now, Tencent's "meat cutting" has failed to increase Jingdong's "weight gain".

In fact, after obtaining the entry of WeChat, Jingdong or Tencent never disclosed the data of WeChat entry.

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< p > fat cat analysis shows that Jingdong, which is losing money, is facing more and more constraints and challenges. Although its cooperation with Tencent has succeeded in raising valuations before its listing, at present, the effectiveness of this cooperation is only limited to lifting valuation, and has not produced any effect on Jingdong's real business. Even because of the weakness of the original e-commerce business of Tencent, the integration is too large to drag itself up.

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< p > and not long ago, "a href=" http://www.91se91.com/news/index_f.asp "> market < /a" rumors, Tencent WeChat will cooperate with Suning to cooperate with Suning's big promotion activities.

Although the subsequent Tencent denied it, the rumor also raised questions from the outside world. Tencent is probably unable to enrich the expected business scenario for WeChat because it sees that the cooperation with Jingdong is not ideal, thus starting to seek cooperation among other electricity providers.

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