Net Red Electricity Supplier First Share, Listed On The 100 Day Of Anxiety And Hesitation

Compared with the net red, which is bright and beautiful, fans are surrounded by fans, the headquarters building of "net red electricity supplier" is a gray and black building surrounded by fields and factories. In order to highlight the truth of net red, hatching companies are mostly low-key, few interviewed, and secret about their operation mode. But with its listing in the US stock market in April 3rd, if it was surrounded by public opinion, it would no longer be able to keep a low profile. Such as the prospectus shows that its losses are expanding, and "attracting gold" depends on the situation of Zhang Dayi's head net red, which has attracted the attention of investors and the media. According to the prospectus, 2017-2019 years, such as the business platform, respectively, achieved 1 billion 200 million yuan, 2 billion yuan, 2 billion 200 million yuan GMV (total transaction). Among them, the contribution of Zhang Dayi shops to total revenue is 50.8%, 52.4% and 53.5% respectively. Rely on net red hatch, net red business, such as Han went to the head of the industry, but how to maintain the leading position, such as Han is still looking for the answer.

Such as Han LOGO display wall Beijing time in June 14th, such as Han published the first earnings after listing, losses continue. Data showed that in the fourth quarter, the net revenue was 237 million 300 thousand yuan, up 20.7% over the same period last year. Net loss was 28 million 700 thousand yuan, a decrease of 55.1% compared with the net loss in the same period last year. A week after the release of the financial report, zinc finance saw Sun Lei, co-founder and President of the Han Holdings Limited. During the nearly 2 hours of dialogue, zinc finance mentioned the share price, performance and questioned profit model. Sun Lei's answer was particularly cautious. In the interview, Sun Lei emphasized the 11 "brand co creation", which is called a co creating platform for a fashion brand. This positioning first appeared in the first earnings report released after listing, such as Feng Min, the chairman of Han holdings, formally put forward the vision of creating a "China Fashion Brand Co creation platform" at the earnings call conference. Before that, Feng Min once stressed that "Han is an Internet technology application company".

If Sun Lei, co founder and President of Han Holdings Limited, was listed on the market after the listing, the pressure was unprecedented. This pressure was not only reflected in the search for the "positioning" of the founding team, but also from the top down to the employees. For example, Han Yu, director of the red Contract Department, told zinc finance that compared with last year, the target of the contract increased by 3 times, and the direction of the contract also extended from the clothing business to the US, and the number of departments increased by only 2. Sun Lei mentioned in his interview that if Han as a relatively new business model, it is not easy to be understood and needs more communication with the two tier market and investors. However, they seem to have no way of thinking about dialogue. After an interview with Sun Lei and other relevant business executives of zinc and finance, there was no objective reason for the sudden request for "suspension of the follow-up interview". Standing in the spotlight such as Han, there seems to be no standing behind the net red of the share. Zhang Dayi, however, failed to practice the common sense of public opinion. This awkward caution contrasts sharply with Zhang's signature smile. After listing, the most intuitive experience is anxiety, anxiety and pressure. "We are the first to do this in China." Sun Lei emphasized that when he entered the track early, he did not tell an early story about it. How to solve the performance bottleneck of Taobao shop, how to cooperate with Zhang Dayi and how to cultivate the fashion acuity of the red people? These culvert stories have been avoided and replaced with more professional and beautiful words.

Such as the red screen wall, sun Lei, told zinc finance, such as its own brand and cooperative fashion brands, can pass low cost brand value transfer through social media, get user feedback, and then affect business decisions. In this regard, through social media interaction with fans, give fashion dress matching, makeup matching, so that fans to pay the red man, described by Sun Lei as "like to help them realize the fashion concept of people." "Their unique charm and aesthetic value are valuable, such as the transformation of this part of value into commercial value, helping them establish personal content and content, and get more fans in social media." Sun Lei described this.

How can we find these people and make them into commercial value? The source of pressure falls on net red contract department. "I have to do well, if I can't do well, it may affect a lot of things. I feel that way." Talking about the feelings after the listing, Tianyu sighed to zinc finance and economics. The business indicators of the signing of a red man will be directly shown in the earnings report. This is what makes Tianyu produce a sense of pressure to "do well". According to the prospectus, the most important two part of its business model is e-commerce and social networking, such as involving consumers through KOL (key opinion leaders), and accumulating social assets with KOL, thus helping brands and online retailers sell more goods. Therefore, Tianyu's KOL or net red is a very important part of the commercial realisation. After listing, it speeded up the rhythm of the signing of the red man. "We need to sign more high-quality red men to ensure quantity and quality." Tianyu admits that her pressure has become very great.

According to PPT, a roadshow shown in listing 2017, under the platform service mode such as culvert, in the year of fiscal year KOL18, it increased to 57 in fiscal year 2018, and 101 in the first 9 months of 2019 fiscal year, an increase of 102% over the same period last year. Tianyu told zinc finance that there were very few red people who could support a shop. Maybe they could find one or ten, but it was hard to find one hundred or two hundred red men. According to the prospectus, GMV accounted for more than 60% of its contribution in the 2018 fiscal year. Such as the three big nets, red Zhang daiyi, Daikin and Guan aunt micro-blog fans are 10 million 530 thousand, 3 million 830 thousand and 2 million 290 thousand respectively, and their corresponding Taobao shop fans are 10 million 90 thousand, 3 million 260 thousand and 710 thousand respectively. Zhang Dayi sat firmly in the first place.

Zhang Dayi now looks back, three years from Zhang Da Yi and his Taobao shop. In 2016, in the documentary "net red", Zhang Dayi shouted to the camera that "2016 is definitely the era of Zhang Dayi". Today, Zhang Dayi is still supporting the US stock listed company with one person's income. This is still the era of Zhang Dayi for Han. There is no new breakout of net red, which is the biggest anxiety after listing. Net red to develop the "NASDAQ" aura is indeed plated with a layer of gold, dream of becoming the next "Zhang Da Yi" of the girls in throng. On the night of the NASDAQ bells listing, micro-blog's private letter of the Contract Department of Tianyu was exploded. "We received nearly more than 3000 private letters that evening." Tianyu recalled. Tianyu told zinc finance that micro-blog was not just the signing department, but micro-blog, CEO Cheng Ke, of Han Culture Communication Co., Ltd. received more than 10000 comments and private letters. "How can I sign a contract," "send mail, hope to reply", "I am more interested in makeup, but no video experience". On the day of listing, the Ministry of contract issued a red man recruiting micro-blog, and almost all of them are "I want to be net red".

Micro-blog, who signed the Ministry's red letter recruitment campaign, "has been doing this screening for a long time. It has doubled in peace. People in our department are studying interview skills." Tianyu said. Hatch more vegetarian nets red, it is possible to cultivate the top net red and head net red. Compared with the main signing mode with mature net red, such as culvert began to further layout the hatching of Su man net red. However, the development of a vegetarian red net often involves several links, such as digging, signing, training and so on. It needs to spend a lot of time and money in the early stage. If the contract department has a sentence, slogan is "choice is greater than effort". The contract department will be almost two days later. How to measure whether a person has the potential to make a net red, such as culvert, is mainly based on two aspects of fan foundation and content base, but Tianyu emphasizes that "the most touching thing is whether he has determination." In addition, three rounds of data tests will be set up before signing the contract to assess the direction of his adaptation.

If the posters put up on the walls of the culvert are signed, it will be their exclusive brokers, a series of training courses, and orientation in the direction of style and realisation. "When we go from the content incubation period to the leap development period, net red has to go all the way to this style and run away from it." Tianyu said. This is a process of continuous acceleration. In the fastest half a year, a vegetarian red can rise to 80 to 1 million fans. It can set up an electronic business shop. Sun Lei disclosed that a vegetarian red net with 300 thousand fans can reach 3 million of GMV in the first commercial realisation. Yang Xia, who was born in 1991, was concerned about Zhang Da Yi. He signed a contract at the end of July 2016 and signed a contract with Taobao. She had a clothing store on the Taobao. She usually accumulated 170 thousand fans in the social media, including mother and baby, clothing and daily life sharing. After signing the contract, she became a beauty net.

On the day of the interview, Yang Xia is recording the beauty evaluation video, such as Han's help to her content and promotion. Yang Xia mentioned that the video quality she shared in the past was rather rough. If the same topic is to be done now, it will have more requirements for the content quality. For example, a video may only last 3 minutes, but it may take 5 to 10 minutes in the future to do as much detail as possible. From signing up to now, Yang Xia's fans have risen from 170 thousand to 1 million 270 thousand. "My personal image has been magnified. Maybe someone will recognize me and take photos with me now." Yang Xia believes that MCN agencies cooperate with micro-blog and other platforms, enjoying many support policies, basically enabling the video playback volume of its net red to double, which is also an important reason for the rise of the powder. Since the beginning of 2018, the change of the environment has brought pressure on the "Buddha Department". Besides repeating the contents of the past, she has to make the future contents more qualitative and elaborate, and keep up with the new traffic windows such as Taobao's live broadcast and compete with more competitors in the field. This is the ability to give net red as well as its own hematopoietic ability. Three years ago, when Tianyu first came to the headquarters of the Han Dynasty, she was mistaken for the wrong place because of the fields, factories and the office buildings. Recalling the scene at that time, Tianyu sighed, "this is very similar to our industry. People only see a bunch of net red taking pictures, but you will find it completely different when you walk in." In 2016, the development of China's net red has gone through the network segment stage of social networking, and has gone to the era of Taobao, short video, live broadcast and so on. At that time, Tianyu was just a graduating college student, and the operation mode of "net red + Incubator + supply chain" was just established. For the net red hatching thing, at that time, such as Han and Tianyu are only new people. Tianyu believes that in 2016, "Han is more like incubating a shop than hatching a person." If the role of broker is to help net red to manage the store, the promotion department is promoting the net red shop.

For example, the red wall of the website is derived from the continuation of the "Zhang Dayi model". In 2011, Feng Min opened the Taobao women's clothing store "Li Bei Lin" and sold the sales volume to the top ten of the Taobao market, but in the next two years, the growth of her performance gradually slowed down. In order to find a new way, in July 2014, Feng Min found the 27 year old Zhang Da Yi cooperation, opened a Taobao women's shop, and won the Taobao clothing category sales champion in one year. Such as Han also ran out of a new model - through the net red powder, and then from the social platform to import traffic, and finally through the realization of the electricity supplier. "This is a strong alliance, which is the market environment, platform bonus period, Zhang Dayi's own charm and ability, and the accumulation of experience and resources in the electricity supplier and supply chain." Sun Lei said.

Zhang Dayi, Feng Min, Cai Chongxin, Li Bei Lin sun Lei also mentioned that by 2015, double eleven, such as Han interior confirmed that this road ran through. He believes that this model is commendable, such as culvert does not rely on Amoy system internal traffic, instead is the external traffic to the Amoy department. In 2015, "Li Beilin" was officially renamed "such as". The success of the Zhang Dayi model has enabled us to follow the same route in the next few days - hatching net, and then reallocating it through the clothing business. However, with the rise of small red books, jitter, fast hands and other platforms, such as Han had to cater for. Net red type is more subdivided, content form has also developed into graphic text and video parallel. Various kinds of MCN institutions such as live broadcast, short video and other fields have sprung up all over the country.

The track of net red hatching is getting more crowded. The number of net red is increasing and its realisation is becoming more and more diversified. According to the data released by Ai Rui's "China Red Net Economic Development Research Report" in 2018, net red already has diversified forms of advertising, electricity supplier, live broadcast, Q & A, reward and content payment. The top three of net income share are: advertising revenue accounts for 19.6%, accounting for 19.3% of the electricity supplier income, accounting for 17.2% of the live broadcast. In early 2018, if he decided to expand some pan entertainment red men, he hoped to increase advertising revenue. In 2018, China's net red economic development research data show that in 2017, the scale of domestic pan entertainment live market reached 45 billion 320 million yuan, an increase of 63.6% over the previous year. It is estimated that the pan entertainment live market will reach 112 billion 90 million yuan in 2020, an increase of 25.4% over the same period last year. At the same time, in 2018, the revenue generated by live broadcast, signing fees and fans' reward had reached 38.4% of the net income.

"We just closed doors, and now we must force ourselves out of the comfort zone." Feng Min mentioned in an interview. Now, whether it is from the internal organizational structure, or the positioning of the actual work of various departments, has undergone tremendous changes. In addition to the direction of clothing e-commerce, net red is more inclined to hatch beauty, tourism and other more types of net red. The hatching of net red has formed a complete process. The signing department, the content department, the Red Man Department, the promotion department, the electricity supplier department and the advertising department are responsible for the front-end red man mining, content output, red man brokers, and the promotion of the whole platform.

At the same time, if the official new business department was established this year, a team of about ten people will be formed to sign the live broadcast and assist live broadcaster. However, in the face of more and more short video platforms and live platforms, Sun Lei believes that the transaction attributes of these platform traffic are relatively low. For the realization of e-commerce, the commercial efficiency may not be very high, but on the other hand, considering the low cost of these traffic, they may also have good performance and need comprehensive consideration. As for how to deal with the new traffic platform, sun Lei does not seem to be in a hurry. Strengthening supply chain Sun Lei's exploration is part of the strengthening of the supply chain. Besides training net red, we have done a lot of work in the supply chain investment. If we have to invest heavily in supply chain construction, we must continue to spend money to make money. "Part of our supply chain will help them (Wang Hong) to realize their fashion ideas, which is followed by a long industrial chain, and then the better quality of service can be passed on to their users." Sun Lei told zinc finance.

According to the previous report of Chinese entrepreneur, in November 2016, it invested 130 million yuan in creating a flexible supply chain, and was ready to integrate garment manufacturing and fabric supplier resources in a self run way. Fabric suppliers can submit product information to the platform to form a fabric data information library. Clothing processing plants and brands can search related fabric information through the platform, place orders, and also publish fabric needs on the platform. For example, the head of supply chain, such as Li Shang Zhen, vice president of Han holding holding company, expressed to zinc finance and economics that, in terms of fabric, such as culvert, many basic materials were selected, and they invested funds to prepare materials, so that suppliers did not have to bear the risk of preparing materials, and the reaction speed was fast and the quality was guaranteed.

At the same time, for different stages of net red, such as Han will also develop different supply chain solutions. Li Shang Town takes Zhang Dayi as an example to illustrate that 1 billion volumes of net red like Zhang Dayi may be equivalent to 2 billion volume companies under the line, so they should match the suppliers with similar volume specifications. For example, in the face of Zhang Dayi's 5 minute order explosion in double eleven activities, if we want to sell 10000 pieces of merchandise for a 10000 dress style, Such a supply capability requires adequate financial support. In fact, many MCN organizations need a lot of financial support in choosing the business development or transformation process. According to clourey's "white paper on the development of China's MCN industry" published in 2019, 46.2% of the MCN institutions with sufficient funds are concerned about the financing status. 59.4% of the MCN institutions with normal financial status are planning to finance.

Li Shang Town disclosed that such a factory had once owned a factory of about 1000 people. At present, there are already 40-50 suppliers factories that can meet the production requirements in garment production. Li Shang Zhen gave an example. If we expect to sell 1 million 500 thousand down garments this year, if we can cooperate with suppliers, we can prepare 50 tons of down materials ahead of time. According to the pre sale and purchase data of the electronic business platform, we can get the required quantity of this style in this sales cycle, and then adjust it in time. The whole cycle may take three months, but the double eleven down jacket can be made in about 15 days. This is the achievement that has been painted at the end of the supply chain. At the same time, this set a higher demand for the number of front-end nets and its sales capacity. There must be enough net red to sell enough goods to form a virtuous circle.

Such as culvert office environment from the stock market performance, the mode of culvert has not been favored by the market. Data show that if the first day of listing was broken, the stock price of the company ended up at $7.85, down 37.2% compared with the initial price of $12.5. By the end of July 5th, its share price had fallen by 72% compared with the first day of listing. Cai Zongyuan, a special commentator of Huasheng securities and a well-known financial expert in Taiwan, pointed out the reason why the capital market questioned such questions: no profit. "If the stock price is cut, the share price can reflect that its market acceptance is not high, and the market value of no profit is supported." Cai Zongyuan believes that if the company's revenue can continue to grow and has a continuous profitability, the general stock price reaction will not be so bad, but the problem is that the market recognition is low, and the basic value of the company can not support the stock price. "Losing money is not terrible. It is terrible that investors have no clear confidence in the company's future growth expectations." Cai Zongyuan told zinc finance. Does money really work? "We are rich and rich enough to solve many problems." Tianyu said in an interview that money is a good thing for Han. Similarly, in the face of doubt 3 days after listing, Mr. Cheng sent a message at micro-blog, and wrote to the outside science popularization website, "what kind of resources are there?" The first is money, money and money. Alibaba and micro-blog are both shareholders. They are all like money. "

Such as micro-blog Culture Communication Co., Ltd. CEO Cheng Ke micro-blog resource type shareholders are strong, which makes it not bad money and channels. But according to the prospectus, the net loss in the first three quarters of fiscal year 2017 is 40 million 130 thousand yuan, 89 million 950 thousand yuan and 57 million 500 thousand yuan respectively. In the 2018 fiscal year, the total operating loss was 72 million 350 thousand yuan, including 146 million yuan in marketing. As for the reasons why Cai Zongyuan has never been able to make profits, he believes that only a few of Zhang Dayi's net red can be brought to the benefit of the company. In fact, such as Han and the original cooperation with Zhang Dayi, "you are responsible for the beauty of flowers, I am responsible for making money to support families" mode is different, mature net red is always scarce, sending the red net "debut" mode is more suitable for the development. Sun Lei said that since 2017, micro-blog has only a few thousand or hundreds of vegetarian red nets. When the number of fans of the vegetarian reached 20 and 300 thousand, the business realisation began.

Such as the official website home page in a vegetarian from thousands of fans to 300 thousand fans in the process of powder, "such as Han will be through the vegetarian net red rose powder data performance screening." Sun Lei told zinc finance. According to Tianyu's description, there will be more rounds of publicity in this process. Multiple rounds of social media delivery are bound to generate expensive pre promotion costs. According to micro-blog's earnings report, in 2018, micro-blog's advertising and marketing business revenue amounted to $1 billion 500 million. Cai Zongyuan also said that in many of the red net of the vegetarian people, there is another question mark that can bring a profit.

For example, the homepage of the official website has returned to the origin of the capital market. Faced with doubts about the capital market, Sun Lei said with certainty that because the electricity supplier environment and user habits in the US are different from those in China, such a company does not match the companies in the US market. At the same time, China's mobile Internet has developed faster than the United States, such as Han is an updated business model. "If Han is not a simple MCN institution, it is a misunderstood point." Sun Lei emphasized to zinc finance and economics. If the business model is recognized, in Cai Zongyuan's view, the key lies in whether it can narrow the scope of loss, whether it can grow on revenue, whether the gross margin can be improved, and whether the centralization and simplification of net Hong can be improved. As the "net red business first share", Chinese examinees, such as culvert, first explored the depth of US stocks, faced with the loss of traffic dividends, the high cost of supply chain construction, and the unreplicability of net red.