Liu Qiangdong Talked About Double Eleven Being Registered: No Company Can Afford An Industry.

Asked how to treat Ali's registration of "double eleven" trademark, Liu Qiangdong replied: monopoly will cause damage to the whole industry, and the interests of consumers will also be damaged.

Jingdong will not and will never use "Jingdong 618" trademark to kill others this year.

In November 4th, Jingdong Group Chairman and CEO Liu Qiangdong ended their second days off on duty, and the Chinese entrepreneur interviewed him.

Liu Qiangdong: there is no big change. Every quarter, Jingdong has to publish its earnings report and hold an analyst meeting. This is the only change.

Now 99% of the work in the financial reports is Huang Xuande (Jingdong group CFO) and Shen Haoyu (Jingdong mall CEO). Their team is doing it. I am not good at it either.

After the listing of Jingdong, I haven't seen investors or participated in analysts' meetings. They are all colleagues in charge of investor relations in finance department. When they are not in the silent period, they attend various kinds of analysts' meetings almost every week.

Liu Qiangdong: our business layout this year is divided into several parts: Jingdong mall, Jingdong finance, patting and technical services.

The change is that we have acquired the electronic business of Tencent, and many new colleagues have been set up, and a wholly-owned subsidiary has been set up.

We also plan to set up a hardware based subsidiary.

The pat net is an independent subsidiary. It is tied up with Jingdong finance and Jingdong mall in the group, and has independent human, financial and material allocation.

At present, most of our group's income is in Jingdong mall, which has not changed much.

Chinese Entrepreneurs: what new progress has been made in the cooperation between Jingdong and WeChat?

Liu Qiangdong: our cooperation with WeChat has been exploring for half a year. Recently, the patrolling of the micro shop just went online, and its growth rate at the compound growth rate of 10% per day is increasing far beyond the imagination of any of us.

Jingdong mall has also been on the micro shop, we have just upgraded it, now a large number of our third party sellers are applying for the opening of the micro shop, B seller's tools and C sellers still have a lot of differences.

After the listing, we have been working with WeChat (Zhang Xiaolong, senior vice president of Tencent and WeChat business leader). We have to give it a centralized entrance to the centralized business mode, at least let some aimless customers know where to find it, not only by advertising promotion and our sales volume.

Liu Qiangdong: any big business promotion, without the participation of Jingdong, is not an industry matter.

I believe that everyone's mentality is different. In fact, "Jingdong 618" we have registered, but we have never threatened to say that others can not be used. This year's "618" urge us to invite colleagues to participate.

We believe that no company can hold up an industry, if any, it will bring absolute monopoly, the whole industry will be damaged, and the interests of consumers will also be damaged.

We have also registered all kinds of trademarks, just to prevent vicious infringement. We will not and never use the trademark "Jingdong 618" to kill others this year.

Both June and double eleven have become popular online shopping festivals. Netizens have the right to choose.

Liu Qiangdong: the scale of development of China's electricity supplier industry has surpassed that of the United States. We must attach importance to combating counterfeit and shoddy products if we want to continue to develop.

We have also done surveys. In rural areas, we are very familiar with each other. If anyone bought fake products, all villagers will know about it on the second day.

When the electricity supplier is expanding to the 4-6 tier cities and rural areas, it faces the reputation problem of the whole industry.

We have developed almost 1-3 lines of cities, but 80% of the 4-6 cities do not have online shopping. They have great psychological obstacles when shopping online, which is the problem of fake goods online.

Over the past ten years, many people have made a lot of money relying on fake goods, which in turn has affected the online shopping crowd.

If you are cheated by Beijing people, you can still protect your rights through various means. But if you are a rural person, you may even complain about micro-blog.

I think the time has come for the country to unify its fight against counterfeit goods.

If we find counterfeit goods, we can only seal the pactions on the Jingdong platform and impose a fine on them, and we can not seal off the offices of the sellers.

But it can also sell to other platforms, so I suggest that the government popularize electronic invoices and electronic business registration, fully grasp the business information, increase supervision and law enforcement, and eliminate cross platform selling.

This involves the issue of tax payment for electricity suppliers.

In my opinion, tax payment will not cause businesses to die, because businesses pay 17% of value-added tax, if calculated according to the amount of pactions is 1-3%.

In fact, the cost of sellers on some trading platforms has been very high. Advertising fees and miscellaneous buckles are far higher than taxes.

I do not think that paying taxes will cause sellers to die. On the contrary, they can also make sellers who sell genuine products and regular tax payment live better, and gradually eliminate the sale of fake goods.

We sell genuine products now, but we can't make money. Sellers who sell water products earn a lot of money. Their prices are cheap, forcing them to sell genuine products and lowering their prices.

Therefore, those sellers who have been deceive and deceive have been protected. Sellers who sell genuine genuine goods live very hard.

China

Liu Qiangdong: two focuses.

The first is fresh food.

3C we made up a large share of clothing, and clothing merchants accounted for a large share. I think the third big category is fresh food, which is just needed and eaten every day. There are no big players yet.

Packaged food is now doing well and growing fast, and fresh food will become the focus of competition in the next five years.

The second is Internet finance. We have just launched the financial products related to e-commerce. Users need to be nurtured. We expect that Internet finance will explode in the next five years.

Chinese Entrepreneurs: Jingdong has started internationalization. What are we going to do in the future?

Liu Qiangdong: our business model is still three: electricity, finance and technology.

Internationalization only extends horizontally to more countries and regions. I think there is no qualitative change in the business model.

Chinese Entrepreneurs: Jingdong is listed, and the company is big. What changes do you have in your mindset?

Liu Qiangdong: I haven't changed much personally. The only change is that as a public company, when you talk about numbers, you should be very careful. You used to ask me any number, I can say, now I have to think about it for a long time, and can't talk about financial figures at will.

This company has just been 11 years old. It is very young, and a lot of business has just started. We still have too many new things to explore.

We did not feel so great that we could stop and enjoy the so-called success in the past 11 years.

When you have a lot of new business to do, your mindset will not be old.

Chinese Entrepreneurs: we see Jingdong's earnings report. The losses in the second quarter of this year increased a lot from last year's year. We are all concerned about when Jingdong will be able to make profits.

Liu Qiangdong: the question of profitability has been asked seven or eight years ago. To be honest, I have just figuring out what the US GAAP is and what is the non American Accounting Standard (NON-GAAP).

Our NON-GAAP index can better reflect the actual business results of the company, and it is also a more valued index for investors.

From the NON-GAAP point of view, we are at the break even point.

Before listing, I told investors clearly that in the case of financial safety, we will still focus on the rapid development of the company, rather than one-sided pursuit of profit.

Besides, our cash flow is very healthy.

But if you look at the US GAAP index, we are indeed losing money on the books. This is mainly because we have paid the cost of intangible assets arising from pactions with Tencent according to the requirements of the US guidelines, but from the point of view of operation, we do not need to actually pay the cost. In addition, our cost includes the cost of equity incentive to employees, which is also a matter of no cash outflow.

General companies will adjust these items to get NON-GAAP indicators.

Chinese Entrepreneurs: what do you think of the rapid rise of service providers in recent years?

Liu Qiangdong: I think an electric business can develop, the key is that it can bring value.

I also ordered meals on the public comment and the US group. If they do not have one day, I will feel inconvenient, and such a company will be valuable.

I have been in business for so many years. If there is something regretted, it is still not enough radical at the beginning. The courage is still too small. There is no way to lose money in the early layout of group buying and life services. At that time, there was still a little bit of fear.

However, you can become the first industry in two or two years. It may take ten years for you two years later to become the first possibility in the industry.

The life service market is very large. We can't do the first thing now, but we should also be able to provide this service because it is valuable.

The market is changing and technology is developing. Maybe we will find a new tipping point on that day.