Has Jingdong Bought 1 Store Yet?

On the recently announced strategic cooperation agreement between WAL-MART and Jingdong, the first mentioned strategy is that Jingdong will own the main assets of mall 1, including the brand, website and APP of "shop No. 1".

WAL-MART will continue to operate Shop No. 1 in its own business and join the 1 mall.

So what does store 1 mean in this multinational marriage? How much value can it bring to Jingdong?

In fact, it was acquired, but not in strict sense.

If we buy it completely, we should see that the 1 store revenue and GMV data disclosed will be incorporated into the Jingdong earnings report.

Therefore, this fully coincides with the judgment of the elder brother before joining the stock market: Jingdong will not take the initiative to purchase No. 1 store.

Even if it is WAL-MART strategy shares Jingdong, 1 shop assets are packaged to Jingdong.

If there is no acquisition, it is necessary to talk about it.

How much is the number 1 store? Actually, the core asset of shop No. 1 is users and brands. It is impossible for WAL-MART to continue to operate itself.

User traffic is Jingdong, employees also let Jingdong merge, warehousing and distribution has also been integrated to Jingdong, let WAL-MART continue to maintain.

Self employment is impossible.

How much is the number 1 shop? Of course we need to talk about it.

So this is just a way of handling.

In 2014, Tencent's strategic stake in Jingdong made the Tencent electric business (ECC) packaged to Jingdong, but the terms of the merger did not include Yi soon network.

Jingdong is only a minority shareholder of Yi soon network, so since then, Jingdong's earnings report has not been included in the earnings of Yi soon network.

At present, shop No. 1 has less than 10 billion revenue a year, assuming that the loss rate is 10%, and it loses 1 billion in one year.

Not only business losses, business scale is still shrinking, the exact fall of the cliffs, more and more marginalized in the market.

From the scale, it is also unable to meet the strategic demands of WAL-MART China, or even drag down WAL-MART's performance in China.

As a matter of fact, the No. 1 store's core management team left Shop No. 1 very early. To be precise, there was no backbone before gang and Liu Junling left.

The news of the gathering of people and the gossip in the circle was that they were founded from shop No. 1 to be packaged and processed. In addition to the money earned by gang and Liu Junling, the brothers did not make a fortune. Even after starting from scratch, they finally achieved the CXO level.

Obviously, the No. 1 shop lacking core core has lost its cohesive force.

Unable to reverse the predicament, WAL-MART will certainly have to throw away the burden.

If not, asset value will go to zero.

The handling of this merger is similar to that of Yi soon.

After that, the impairment of assets goodwill was mainly patting, QQ online shopping, and there was no impairment of assets goodwill for Yi soon network, because Yi soon network had never merged into Jingdong.

Therefore, we should not worry that when Jingdong merged into Shop No. 1, we should do the assets impairment of the pit father's assets and drag the profits.