Ten years ago, I was in a daze. At that time, the definition of the word "local tyrant" may still stay on the retro and cool AJ on my classmate's feet. Then boss Xu appeared and began to educate us with practical actions, what is money and what is true follow one's inclinations.
While we are still bemoaning the "Dream 3" team in Barcelona, where the hope of China football lies, Mr. Xu stopped pretending and laid his cards on the table. 1 100 million bought the Guangzhou team and started a series of dazzling capital operations. Under the heavy money, dozens of international players poured in, and legendary stars shined. For a time, the smell of money filled the sky of Tianhe Stadium, making people call it "really fragrant".
Boss Xu has become a capital idol, and the money storm starring him has just begun. 2013165438+1October 10, Evergrande Ice Spring was released, and Boss Xu opened up territory for high-end drinking water industry; On August 27th, 20 14, Evergrande released grain and oil, and continued to enter the grain and oil industry; 20 14,10126 October, Evergrande baby milk powder was released, and the maternal and infant industry was not spared. 2015165438+1October 20th, Evergrande Life Insurance was released, and the insurance industry ushered in baptism; On March 201June 16, Evergrande's financial services were released, and the pattern of Internet finance industry quietly changed.
Fireworks bred by capital, with boss Xu's every move, are scattered in all aspects of life, and every flower is like a "back wave", which makes people envy.
Maybe the boss is not satisfied. "After exploration, we found that the industrial volume of selling hundreds of millions and billions a year does not match the scale of Evergrande's annual sales of 600 billion." Boss Xu is depressed. The implication is that the plate in front of Evergrande's diversified development is too small to bear the ambition of this company with total assets of nearly 2 trillion.
What shall we do? Looking back on people's basic necessities of life, Mr. Xu seems to suddenly find that this "line" Evergrande seems to have never set foot in, and the huge automobile manufacturing industry chain is in line with the diversified development needs of Evergrande. It hit it off, and Mr. Xu directly wanted to make a big deal. "Strive to become the largest and strongest new energy automobile group in the world in 3-5 years."
Without the jumble in the big group and the tangle in the new forces, xu teacher began to run around the world, directly, simply and neatly. After parting ways with Mr. Jia, Mr. Xu spent a year traveling around the world in 23 countries and 47 cities, and inspected 58 auto companies around the world, and finally came to a conclusion: nothing is unbreakable, and some are not enough.
How rich is boss Xu? You can make a simple comparison. In 20 19, the turnover of Evergrande group was 477.56 billion yuan and the net profit was 33.54 billion yuan. And Geely, as the leader of its own brand? In 20 19, the total income was only 97.4 billion yuan and the net profit was 8.26 billion yuan. As the best-selling independent brand in China, Geely's assets are only a quarter of Evergrande's. Looking at the "big fish and big meat" in this dish, Li Bin, Li Xiang and He cried while they were greedy.
Wei Lai once said earnestly in front of a flowing bill: "Our previous investment was to spend money to buy time." In this regard, boss Xu deeply agrees. You can't imagine the happiness of being rich, but I can. Want the qualification of the whole vehicle? Buy! Want the core technology? Buy! Want a channel system? ! Buy! In front of Evergrande, which pursues "buy while buy", Wang Duoyu shed tears in shame.
Mr Xu has been admiring Lian Heng since the beginning of last year. First, he bought NEVS, a Swedish new energy automobile company, for $930 million. 5 1% equity, and then increase capital to obtain 100% equity. Saab's fans opened one after another, with tears in their eyes. I didn't expect Saab to have a chance to "return to the world".
Then, with a wave of his hand, Mr. Xu invested wholly in Protean, the exclusive British animal company, to develop hub motors; Enter Shanghai Kanai new energy and develop power batteries; Form a joint venture with Hofer in Germany to develop the core technology of powertrain. Even with10.50 billion euros (about RMB10.65438+0.40 billion yuan), the Swedish super-running company Koenigsegg was established, and a 65:35 joint venture company was established. The two sides began to carry out comprehensive capital and technical cooperation.
When building the supply chain system, Mr. Xu deeply realized that rivers and lakes are not fighting, but the truth of the world, and he held hands with the world's top 60 auto parts leading enterprises such as Bosch, Magna, China, ThyssenKrupp, Jetta Gatt and BASF, and called them brothers.
Evergrande is never vague about the technology that can be bought, and the technology that cannot be bought is introduced through cooperation. What boss Xu has to do is to shorten the product development cycle as much as possible, launch products as soon as possible, and seize market opportunities.
Moreover, in terms of vehicle manufacturing, Evergrande announced the establishment of vehicle production bases in Guangzhou, Shanghai, Tianjin, Liaoning and other places, while the production bases in Nansha, Guangdong and Songjiang, Shanghai have entered the stage of equipment installation and commissioning. Two days ago, xu teacher also specially visited these two bases in the south. I wonder if Mr. Xu will have a heroic feeling of "fighting in autumn" when he faces 2545 KUKA robots in the base.
Of course, real estate companies have always dominated the world and earned scale by sales. Evergrande certainly knows the importance of controlling sales channels. As early as two years ago, Evergrande invested 65.438+045 billion yuan in Guanghui Group, the world's largest automobile dealer, and became its second largest shareholder. What is the concept of 65.438+0.45 billion? Let's just say that the money of that year can win the third largest shareholder seat of BYD in the secondary market. It is conceivable that Xu's tactical system of holding high and fighting high reveals a vicious spirit of "money is a thing outside the body"
Therefore, in a short period of 1 year, Evergrande completed the closed-loop basic layout of the industrial chain from technology research and development to core component manufacturing, and from vehicle manufacturing to 4S sales. Just this week, Evergrande released six concept cars, namely, "It can only be seen from a distance, not ridiculous". These models are also designed by designers who have worked in Mercedes-Benz, BMW, Volkswagen, Audi, Alfa Romeo, Jaguar and other brands, and they exude an unusual "Shen Hao" spirit.
There's nothing I can do these days but turn on my cell phone. It is full of promotional photos of the true story of winning the advertising plan in the 1990s. If you add the voice-over of "Always Eat the World", the inner taste is really positive. Even after the magical brainwashing in the morning and evening, I can still taste the charm of "steam wave".
This wave? This wave is a magic sound, what is needed is a memory point. After this week, I can allow you not to know Evergrande Real Estate, but I will never allow you not to know the existence of Hengchi Automobile.
On the other hand, compared with the real estate industry with project system, high leverage and high gross profit margin, the investment return period of making cars is too long and the return on net assets is not high. It depends not only on heavy investment, but also on long-term technical reserves. Why did boss Xu come to this "muddy water"?
You know, in 20 18, the average ROE of the top 20 real estate enterprises in China reached 20. 1%, while the ROE of Daimler Group was only about 18%. Moreover, in terms of profit, Daimler's net profit in 20 18 was 7.6 billion euros, nearly 60 billion yuan, while China Evergrande reached 72.2 billion yuan, more than 100 billion yuan. In any case, boss Xu is doing a thankless job.
But boss Xu knows exactly what China needs now. In the previous 20 years, the real estate industry was full of vitality and there were more and more bubbles. The pressure of land cost and credit cost in the real estate industry continued to increase, especially after 20 16, and deleveraging suppressed the real estate industry, which had a great impact. Therefore, to push China forward requires more dynamic new forces.
The new energy industry, which meets the needs of economic and social transformation and development, has a broad market prospect, and is currently at a low point in the industry, with relatively low entry costs. Once it is profitable, it can produce as much cash flow and profit rate as real estate.
Buffett once told his partner Munger at the shareholders' meeting, "I would rather earn 15% fluctuation than 12% stability." Perhaps, for xu teacher, the fluctuation of new energy is "15%", which is in line with the identity of Evergrande. As for the previous investment, it was just bait.
Collect a week's Che Xun, review the size of the car market, and a week's Che Xun anecdote. See you next week!
Text/Chao Luo
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