From entrepreneurs, investors to car dreams
Editor’s note: This article comes from WeChat public account “Zhang Dongwei ” (ID: dushibuluo), author Zhang Dongwei.
On the evening of October 22, Easy Car Network (NYSE: BITA) announced today that the company’s board of directors special independent committee has hired financial advisory companies Duff & Phelps and Duff & Phelps Securities As an independent financial advisor, help evaluate the company’s previous privatization proposals.
On the evening of October 22, LeTV.com issued a clarification announcement that since the outbreak of the business crisis in 2017, Jia Yueting has repeatedly claimed to guarantee repayment, but there is no guarantee for actual action.
This is LeTV’s response to the “Declaration on Mr. Jia Yueting’s Personal Bankruptcy Restructuring and the Establishment of Creditor Trust” issued by the Jia Yueting Debt Processing Group.
I. Entrepreneur
A. Li Bin
As early as 1996, Li Bin founded Beijing Antarctic Technology Development Co., Ltd. during his university years. In 1997, he joined Beijing Branch Paper Industry Information Technology Co., Ltd. founded by Li Guoqing.
—There is a small tidbit here: In Li Bin’s Baidu Encyclopedia, he wrote “Create Beijing Branch Paper Industry Information Technology Co., Ltd.”, but in fact, Li Bin just went to work and after one year left.
—Beijing Branch Paper Industry Information Technology Co., Ltd., the name sounds unknown, and its other name is “Dangdang.”
Li Bin founded the company in June 2000. On November 17, 2010, he led the company to become the first automotive internet company listed in China (stock code: BITA).
B. Jia Yueting
Jia Yueting resigned from the sea during the Iron Rice Bowl of the Inland Revenue Department. He founded a computer training school, worked as a private high school, and also involved steel business and coal business.
In 2002, Jia Yueting founded the “Saibeier of Shanxi”. In 2003, he established Beijing Xiboer Communication Technology Co., Ltd. (hereinafter referred to as Beijing Xiboer), and later evolved into Siboer Technology.It was listed on the Main Board of Singapore in November 2007.
On November 10, 2004, Jia Yueting registered and established LeTV Information Technology (Beijing) Co., Ltd. (hereinafter referred to as “LeTV Network”). In August 2010, Jia Yueting led the unseen LeTV network on the GEM. Became the first video site listed on the A-share market (stock code: 300104).
Comment:
Starting a listed company is the career ideal and life dream of most entrepreneurs.
Either Li Bin or Jia Yueting, they have completed the journey from the boss to the boss and embarked on the stage of life.
Second, Investor
A. Li Bin
As an old player in the automotive industry, Li Bin has almost seized every wave of the wind to continue to woven his travels. The “going empire” he invested in was spectacular and was praised as “the godfather of travel” by the outside world.
Easy car network, Weilai car, and Mobike bicycle are all famous unicorn companies. The used letter used cars have also been listed in the US.
According to the incomplete statistics reported by “Intelligent Things”, Li Bin’s travel map covers the whole cycle of car life from car-making to user-looking, to car-selling, car-to-sale, and second-hand car sales. More than 30 companies in the Internet automobile industry chain in five major fields, including vehicle manufacturing, automotive aftermarket, automotive peripheral services, and mobile travel services, have penetrated into many links related to vehicles.
Like Lei Jun, Li Bin believes that “investors help not add chaos”, so they are very trustworthy in being invested in companies. This is also evident in the development of the Mobike bicycle, Hu Hu can decide on various matters.
B. Jia Yueting
Jia Yueting is of course a chaser.
In 2003, the establishment of “Shanxi Xibei” in Shanxi was to seize the turf of the nationwide large-scale deployment of 3G communication base stations and the sale of base station infrastructure equipment to telecom operators.
In 2004, LeTV was founded to capture local electricity.Letter operators have rushed to IPTV, providing video on demand services to users, and urgently need to purchase video content.
In 2010, LeTV.com was one of the famous demon stocks with the help of the GEM.
Jia Yueting’s “Essence of Ecology” created by LeTV, expands and deepens “Internet+” with “ecological anti-“, and integrates TV, mobile phone, automobile and content, sports, finance and other fields through cloud computing technology. As one, hatching new Internet eco-products has created new economic and social values.
The huge layout of the seven major ecosystems naturally forced Jia Yueting to fully decentralize. The funds in the LeTV system were used at random, and the personnel entered and exited frequently. Laojia basically did not ask.
In the seven years of inventory, according to incomplete statistics, the amount of LeTV system financing (direct financing + indirect financing) including LeTV has reached 72.859 billion yuan, and the investment amount and investment plan have reached 150 billion yuan.
Comment:
As a creative and superior investment, Li Bin and Jia Yueting have completed the upgrade of entrepreneurs to investors.
As an investor, the two big men are very kind to their own people: Mobike bicycles are retired with a $100 million worth of works; LeTV.com was given a risk of 440 million yuan to three senior executives in 2017. Annual salary.
Three, car dreams
It is said that there is a saying that men are “poor cars, rich tables.”
The two poor people, Li Bin and Jia Yueting, love to play with cars.
1. Li Bin
In November 2014, Weilai was founded by Li Bin, Liu Qiangdong, Li Xiang, Tencent, Gaochun Capital, Shunwei Capital, and other top Internet companies and entrepreneurs who deeply understood the users, and obtained Temasek and Baidu Capital. Dozens of well-known institutions such as Sequoia, Magnolia, Lenovo Group, Huaping, TPG, GIC, IDG, and Joy Capital invested.
Let’s start a business, all need legendary stories to set off. For example, Ma’s teacher went to the bathroom and Sun’s justice to make an investment in the urine. Li Bin is also unconventional.
For example, his relationship with Jingdong founder Liu Qiangdong: Li Bin and Liu Qiangdong are peers, both born in 1974, Liu Qiangdong is only four months older than Li Bin, and Liu Qiangdong is also the first one of Li Bin’s current Weilai car. According to one of the five investors, according to the investment details revealed by the tea sister Zhang Zetian, Li Bin spoke for 15 minutes in the dinner of Liu Qiangdong’s family. Liu Qiangdong took 10 seconds to consider and said Yes.
It’s another entrepreneurial story of N seconds to get an investment.
Li Bin, as the godfather of travel, did not expect the public. On September 12, 2018, he led Weilai Automobile to successfully list on the New York Stock Exchange (stock code: NIO).
However, the performance of Weilai Auto after the listing was not very good. Due to the unexpected loss in the second quarter of 2019, Weilai’s share price fell, with the biggest drop of more than 50%. Since the listing, it has fallen from the highest point of 13.8 US dollars/share to 1.69 yuan/share yesterday, a drop of 87.7%, and the market value has shrunk by three-thirds. two.
Similar to A-shares, the US stock market has a “1 dollar delisting rule.” If the average stock price is less than 1 US dollar for 30 consecutive trading days, the NYSE will issue a delisting warning. If the company being warned is issued a warning. In 90 days, the corresponding measures are still not available, and the stock will face a forced withdrawal. On the other hand, the cash reserve of Wei Lai’s book has been in a hurry. In the second quarter of this year, Weilai’s disposable cash in a single quarter was reduced by 4.08 billion yuan.
The disaster is not alone. Because of the battery, there have been three spontaneous combustion events in Weilai. On June 27 this year, the State Administration of Market Supervision issued an announcement that Weilai Automobile recalled Weilai ES8 electric vehicles, a total of 4803 vehicles, and the recalled cars accounted for more than 20% of the total sales.
However, these factors are just a matter of money. According to Yang Zikai, executive director of the Blue Lotus Research Institute: “There is a saying in the industry of new energy vehicles that your annual output should reach 200,000 units, and you can barely reach this line of life and loss.”
So, the core issue of Weilai Auto is a mass production problem.
2. Jia Yueting
In the same year that Li Bin established Weilai Automobile, in 2014, Jia Yueting also began to build a car for his dreams. He has been building a car on Weibo for five years.
In August 2016, LeTV Supercar won the Shenzhen Venture Capital, Legend Holdings, Oceanwide, and Xinhualian.