Where Is The Future Of Ma'S Heavy Burden Of Tencent With Half A Life Of BAT?

I go on thin ice, every year is like 15 years of heavy pressure, otherwise I will not look like this.

Ma Huateng: I always feel that Tencent has only half lives.

Perhaps they did exaggerate, but the sense of crisis and the dilemma faced by the BAT giants who are in the eyes of the people are real.

On the night of June 21st, Tencent announced that it bought a Supercell 84.3% stake in Finland hand tour developers for $8 billion 600 million. The paction also refreshed the maximum amount of Tencent's acquisition of foreign investment.

The move also reinforces the position of Tencent's global gaming supremacy.

Mergers and acquisitions have become a common news in China's Internet over the past two years.

According to incomplete statistics, the number of listed companies and start-ups in BAT three companies who own or hold shares has reached over 20 and hundreds of companies respectively.

BAT's frequent acquisitions of huge sums of money are hard to relieve the pressure of the giants.

The key is that at present, BAT's main businesses have bid farewell to the fast growing period, but the capital market can ignore these, and continue to give their high speed growth expectations. This contradiction between the pressure faced by the giants is becoming increasingly prominent.

The giants are worried.

Recently, China represented by BAT.

The giants have made speeches in public to discuss the growth bottlenecks and development difficulties brought about by the disappearance of the demographic dividend of the mobile Internet. They are all planning the future, but the future is uncertain.

In June 8th, Baidu chairman Robin Li, who had just been questioned by Wei Xi Xi, said at the Baidu Union summit that the demographic dividend period of PC Internet and mobile Internet is coming to an end.

Robin Li openly shared his concerns. "What is the Internet to maintain its sustained and rapid growth?" the view that the demographic dividend is about to disappear has been prevailing for some time, but this is probably not the anxiety of Robin Li.

In June 14th, at Alibaba investor day conference, Ma said Alibaba had not yet thought about how to use data to cash in, but his strategy was to "make every business segment of its business flourish for three years."

Fear of capital, voting with feet

The capital market has already reflected this concern ahead of time, seeing that the high growth of the company is difficult to sustain, and the capital that profits will choose to vote with feet.

In fact, in order to alleviate the anxiety of giants, acquiring new territories through acquisitions and mergers and acquisitions has gradually become a common path for Chinese Internet giants in the past two years.

After the "Wei Zexi incident" was exposed, Baidu's stock price fell more than 9%, and the market value evaporated more than 6 billion dollars.

Recently, Baidu has lowered its two quarter earnings forecast from 3 billion 120 million to 3 billion 190 million US dollars to 2 billion 810 million to 2 billion 820 million U.S. dollars. The reason for this reduction is mainly from the adjustment of advertising revenue. The main concern is that the government will strengthen the supervision of the medical industry advertising.

Baidu shares fell 6% on the same day, saying billions of dollars.

In September 2015 and February this year, Alibaba shares fell to less than $60. In fact, since the beginning of 2015, the share price of Alibaba has been lower than the issuing price for most of the time.

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Even Ma complained at the investor communication conference that it is difficult for foreign investors to explain what Alibaba is doing.

On the books, in the four quarter of 2015,

Net profit fell by 1% over the past three years: the figure increased by 25% in the three quarter and increased by 36% in the previous quarter.

Wall Street no longer believed the story, and saw that it was not easy to make money.

Diversified exploration, layout Finance

In order to make up for the declining trend of the main business growth, BAT has launched multiple attacks.

On the one hand, BAT turns into a new field represented by finance. On the other hand, giant companies are increasingly involved in the offline industry.

In these two aspects, there are more and more acquisitions and acquisitions.

In 2015, many major mergers in the industry, including the US group and the public comment, 58 city and Ganji network, dripping and fast, all involve online and offline integration. Tencent has become the winner behind the above merger cases.

Robin Li once called out Baidu's slogan that cost 20 billion to O2O battlefield.

Alibaba is hungry after entering the stock market, after 58 gets home, through the investment way further controls the under line market.

The giant Internet Co has also grown into an indescribable monster in the past five years.

Ma Yun said, "can you explain Alibaba's business model in one sentence? No, I can't do it."

Competition among BAT is also spreading in more and more traditional fields.

Tencent and Alibaba are in the leading position in the financial field where giants are laying out.

In contrast, Baidu is in the position of catch-up, but its recent personnel adjustment actions in the field of financial business are frequent.

At the same time, there is another trend that is likely to be behind two of the BAT companies, such as drops and 58.

Where is the future of BAT?

With the growth of Chinese market dividends, the market has been approaching the ceiling of growth, and the integration with traditional industries has entered the deep water period. Chinese Internet companies including BAT have already faced a new policy and market environment, and even should be pformed.

BAT power line from the strategic needs, in fact, whether online or offline, BAT giants are looking forward to eventually will be installed in a core ecosystem.

The importance of data is highly recognized by the three giants of BAT, which is the core of Internet Co in the future.

Ma Huateng once again reiterated Tencent's position as a "connector".

Connecting people and services has been the emphasis placed by Tencent in recent years. It embraces traditional industries in the form of "Internet +", and realizes the resonance and coordinated development of traditional economy and new economy.

In Robin Li's view, driving the realization of data value and even the core kinetic energy of the new stage of Internet development will be artificial intelligence.

This is also the core view that he has repeatedly pmitted over the past six months.

Alibaba side, first, continue to expand the scale of users, and increase the volume of pactions.

When the city reaches the top, it will develop the countryside; when China is at its peak, it will develop overseas.

In the future, Alibaba's overseas customers will even surpass the Chinese mainland.

Ma Yun even gave a clear figure: 2 billion of the world, of which China 8~10 billion.

In Ma's words, I had blown a cow B 10 years ago, you couldn't understand it, but I realized it.

Today, I will give you another 10 years of cattle B, you probably do not understand, but it doesn't matter, as long as I believe that I can achieve it.

But believe it or not, BAT is planning the future, but the future is not clear.