On January 8th, last week was the first trading week in 2024, but judging from the performance of risky assets, the start of the new year was not ideal.

　　In the first week of the year, the major stock indexes of US stocks fell across the board, and the S&P 500 index fell by 1.52%, which was the first decline in the past 10 weeks, ending the longest consecutive gains in the past 20 years. Both US Treasury bonds and corporate bonds recorded their biggest weekly declines since October. According to the statistics of Zerohedge, in terms of evaporated market value, in 2024, the global bond and stock markets lost more than $3 trillion for the worst start in history.

　　The market value of the seven major technology stocks including Apple, Microsoft, Alphabet, Meta, Amazon, NVIDIA and Tesla evaporated by more than 400 billion US dollars last week, and their share prices almost retreated all the gains in December.

　　All this is mainly due to the callback of the Fed’s interest rate cut transaction. Last week, both ADP employment data and non-farm employment data exceeded expectations, indicating that the US job market is still full of resilience, which suppressed the market’s expectation of the Fed’s interest rate cut in March.

　　Guotai Junan, the first window of the interest rate cut transaction began to show fatigue after two months. The rush of the market is the most fundamental reason: interest rate cuts would have brought loose liquidity, but the congestion of "interest rate reduction transactions" has brought new problems. For fear of missing trading opportunities, the accumulation of a large number of positions on the one hand makes the negative spread of long-term debt trading more significant, on the other hand, it also leads to the increasingly tight liquidity in the market.

　　It is worth noting that Apple’s performance was the most "bleak" last week. Apple’s share price fell for the fifth consecutive day last Friday, with a drop of 5.9% in 2024. Due to concerns about the future prospects of the iPhone, it was downgraded by two investment banks within a week. To make matters worse, the US Department of Justice is close to filing an antitrust lawsuit against Apple, and it is possible to file a lawsuit in the first half of this year at the earliest.

　　According to the report, the US Department of Justice is focusing on the entire Apple ecosystem: how Apple uses its control over hardware and software to make it more difficult for consumers to give up the company’s equipment and make it more difficult for competitors to compete. Investigators’ concerns include the closed iMessage service and payment system, which performs better when Apple Watch is paired with iPhone.

　　At present, the market value difference between Apple and Microsoft is only 3%. If there is any mistake in the consumer electronics leader, the position of the "stock king" of the US stock market may be handed over to the AI ​ ​ trendsetter Microsoft.

　　Looking at this week, the most global concern is the 2024 International Consumer Electronics Show (CES), which is known as the "Electronic Spring Festival Evening". On January 9th, it will be opened in Las Vegas, USA, when all kinds of new consumer technology products around the world will be exhibited. The industry expects more AI products to be unveiled this year.

　　The giants of this year’s CES show are gathered, and it is estimated that more than 130,000 industry participants and more than 4,000 companies will participate. Major technology companies such as AMD, Hisense, Lenovo, LG, Nvidia, Panasonic, Qualcomm and Samsung are expected to make major announcements and product releases at CES 2024. This year’s CES keynote speech focused on artificial intelligence and technology for good. As the upsurge of generative artificial intelligence continues to spread, CES 2024 is expected to create a new wave of artificial intelligence innovation.

　　In addition, this week will focus on the inflation data of China and the United States, and many senior officials of the Federal Reserve and the European Central Bank will deliver speeches; OpenAI will go online to customize GPT store; Bank of America shares started the Q4 earnings season.

　　[Market Review]

　　Last week, the Nasdaq Composite Index fell 3.25%, the S&P 500 Index fell 1.52% and the Dow Jones Industrial Average fell 0.59%. The three major indexes of U.S. stocks ended the record of rising for nine consecutive weeks.

　　[One-week preview]

　　[Weekend Highlights]

　　In the first week of 2024, the global stock and bond market value evaporated by more than $3 trillion.

　　In the first week of 2024, the major stock indexes of US stocks fell across the board, and the S&P 500 index fell by 1.52%, which was the first decline in the past 10 weeks, ending the longest consecutive gains in the past 20 years. Both US Treasury bonds and corporate bonds recorded their biggest weekly declines since October. According to the statistics of Zerohedge, in the first week of this year, the value of global stock and bond markets wiped out a staggering $3.18 trillion.

　　NVIDIA’s share price hasn’t peaked yet. Can it rise by 42% this year?

　　According to the latest report released by Bank of Nvidia, as continues to make use of its success in developing and selling artificial intelligence chips, the sharp rise in its share price last year may continue into 2024.

　　The bank said that NVIDIA’s fast-growing income and profits will enable it to generate 100 billion dollars of free cash flow in the next two years. By contrast, NVIDIA’s free cash flow in the past two years was less than $30 billion. Arya, an analyst at Bank of America, reiterated his "Buy" rating on NVIDIA and his target price of $700, which means that the company’s share price has a 42% upward potential compared with the current level.

　　"Electronic Spring Festival Evening" CES 2024 will open AI "Singing Drama"

　　On January 9th, the 2024 "Electronic Spring Festival Evening" International Consumer Electronics Show (CES) will be held in Las Vegas, USA. At that time, various new consumer technology products around the world will be exhibited, and the industry expects more AI products to appear this year.

　　The giants of this year’s CES show are gathered, and it is estimated that more than 130,000 industry participants and more than 4,000 companies will participate. Major technology companies such as AMD, Hisense, Lenovo, LG, Nvidia, Panasonic, Qualcomm and Samsung are expected to make major announcements and product releases at CES 2024.

　　Apple Head Display Vision Pro has been sent to the US distribution warehouse or the release date will be announced next week.

　　According to Mark Gurman, a well-known science and technology reporter, Apple’s retail department and supply chain are fully preparing for the launch of the head-mounted Vision Pro. This headset has been shipped to the distribution warehouse in the United States, and it seems that it can provide sufficient inventory for Apple retail stores for sale in February. He predicted that Apple would soon release an official statement about the release date of Vision Pro, probably next week, so as not to be upstaged by the new product information from CES Electronics Show. Some retail employees are already in the process of going to Apple Park to receive Vision Pro sales training.

　　Apple may release a generative AI tool in June.

　　Mark Gurman revealed in the latest issue of "Power On" that Apple plans to launch a series of tools based on generative artificial intelligence at the World Developers Conference (WWDC) in June. Gourmain said that these new tools will appear as part of iOS 18, including an improved version of Siri. The new version of Siri is said to have more natural conversation ability and provide a more personalized user experience.

　　The initial US$ 1.66 trillion budget agreement between the two parties in the United States is expected to prevent the government from shutting down.

　　The leaders of the US Congress reached a $1.66 trillion agreement on Sunday local time to provide funds for the federal government in 2024, which will reserve funds for key domestic and social safety net projects in the event that the Republican Party demands to cut the government budget. At present, parliamentarians are faced with a severe deadline to pass legislation, compile agreements and avoid a partial government shutdown. About 20% of government funds, including some necessary projects, will be exhausted on January 19th, and the rest will be exhausted on February 2nd.

　　[financial calendar]

Special feature of 1905 film network After four days of release, the box office exceeded 20 million, and the real-time prediction of related platforms is expected to reach 40 million, which is the achievement achieved so far from the young director support program of the China Film Directors Association called the "Green Project".

　

Among the 25 young directors selected in the past five sessions of the Onion Project, 15 films have been made, and 5 films including "Rabbit Violence" have been presented to the audience. It can be said that it is one of the most efficient new director plans in China at present.

　

But at the same time, we will also have a question. At present, Rabbit Violence, which has the highest box office, has 20 million, while Over the Spring, which has a high reputation, has a total box office of only 10 million. And there have been several billion new directors in the market. Under such circumstances, why do we need these new director support programs?

　

one

When talking about what kind of directors Shallot is planning to find for China films, Sun Yang, the producer of Under the Sun, said, "I don’t think so. You can’t say that the talents you must ask Shallot to find are, must be, and. In fact, the person was the last person to look at. For example, at that time, the person who signed up for the green project could not be so good — — It is more important to see the potential of a future. "

Liang Ming, the director who filmed "Under the Sun", was selected as one of the top five directors of the Third Green Project in 2018 with this project. After the film was completed, it was shown in several international film festivals and was released in China in November 2020. It took two years from selection to release.

Compared with other venture capital activities in the mainland, the speed of the Green Onion Program to support young directors is quite fast, and compared with the previous two sessions, it seems to the outside world that young directors have completed their own projects more smoothly.

　

The chairman of the Green Onion Project believes that this is an inevitable trend from market development to brand building. At the beginning of the Green Onion Project, the industry still held a wait-and-see attitude towards young directors.

　

Since the first green onion plan launched in 2015, the market has indeed experienced a change from indifference to new directors to venture capital and new director plans. And the shallot project, which has entered the sixth session, has always held a good hand — — This plan initiated by China Film Directors Association is equivalent to gathering the collective strength of directors in China to tap new talents for the industry.

　

Jia Zhangke,,, and other directors have all held the post of chairman, and the evaluation instructors include directors and producers of,,,,, and so on. It is the best industry resource to help the new director complete his feature film debut.

　

2

Most of the young directors selected for the Green Onion Project have relevant film and television education background and certain professional experience, and this phenomenon has become more and more obvious in recent years. However, unlike other venture capitalists, after five years’ development, the Shallot Project pays more attention to training, and the selected directors will go through several months’ mentor training before choosing the final five.

　

We are also very curious, why do these young directors with certain experience need training?

　

"All of our training courses are facing actual combat." Chairman Wang Hongwei explained, "Facing the front line of creation, facing the current environment and market. Maybe college education can’t keep up with the market and the environment so fast. Then our training as this industry must not be divorced from the market and the environment. "

　

Many reports have also talked about the training mode of the Shallot Project, which is a series of training from creation to distribution. But what is more important is obviously the further support for their creation after the selection of the top five directors. Sun Yang, the producer, told us that the reward mode of the Onion Project now is to put the bonus into the crew account after the crew is established, so as to ensure that the funds can be used as film investment, and at the same time, the funds for the director’s reward have become the director’s share in the film.

　

However, only 1 million funds are not enough to support the operation of a crew. The project selected for the Green Onion Project may not be the more commercial theme favored by the market, so Xiaodong Hou, the chief producer of the Green Onion Project, is also helping the project with financing. For example, negotiate with companies such as Ali and Wanda, give these companies priority investment rights and jointly support young directors.

　

An industry veteran revealed that every year, Xiaodong Hou would go to major companies to introduce projects related to the Green Onion Project, hoping to promote cooperation and jointly launch a new director.

　

three

However, when the project is filmed and put on the market, it will have the commodity attribute. The market is more looking forward to the commercial performance of these films. Wang Hongwei has been thinking about the arrival rate of these films. He mentioned that the Sixth Shallot Plan, which has already started, is working hard to improve the arrival rate and the influence on the audience and the market in terms of selecting projects and training directors.

　

In Sun Yang’s view, the success of the Shallot Project is to make directors recognized in the industry. "This goal may be different from that of the Pure Art Film Festival. We still have to consolidate the market, consolidate the team of young directors, and update the market, genre and film awareness. "

　

"Rabbit Violence may be expected to reach more than 40 million, which is a good state. I think the box office is really not the first important thing for these young directors. "

　

"Including our" Under the Sun ",although from the market point of view, it didn’t get a very explosive harvest, but the director Liang Ming actually gained more because he was recognized in the industry and won some related awards. I think these are enough things."

　

Sun Yang’s remarks have indeed been confirmed by other directors. For example, Liang Ming, Bai Xue and other directors’ next works are already in preparation. Chen Shizhong, who was selected as one of the top five directors of the 5th Green Project, has not started shooting his own selected project, The Wild Romance, but he has been recognized by the industry. His new film, Finding Her, is invested by Wanda and Dongshen, starring in it, which is also a very good opportunity for the new director.

　

four

Compared with other domestic venture capital and new director support programs, the biggest feature of the Green Onion Program is that there is no related film festival to form a closed-loop system. But in Wang Hongwei’s view, this just gives directors more freedom.

　

Wang Hongwei said that once the support plan has formed a closed loop, it may not be a healthy phenomenon, and it may be the best choice for the director to complete the final inspection of the works more openly facing the market. "Our annual plan will last for about four months, which is actually beyond the span of any film festival. And if it is based on a certain film festival, then it feels like it has become a relatively closed system. "

　

When the works are handed over to the market, they are faced with the consideration of real money and silver. When "Over Spring" was released, the producer and director of the film once asked whether the Shallot Project could continue to travel with the film for a period of time in the film’s announcement stage.

　

However, Wang Hongwei also admitted that the strength of China Film Directors Association is not enough to cover the stage of publicity and development, and the industry association is not a publicity and development company, and more can only rely on the strength of the big coffee industry to complete the follow-up work.

　

"The box office is not ideal. There are reasons why the content of the film itself is relatively small, and some of them are really unable to keep up with the announcement of these low-cost films. Then, in the current market environment, Xuanfa has become a thing that needs real money to do, so it will be relatively difficult. This is also a new director. If it is said that after shooting a film that is actually professionally qualified or even better, then the problem faced at the export end. "

　

For example, "Rabbit Violence", which was produced by the producer, cooperated with Cat’s Eye in the release stage, and became the best-selling film in the box office. "Over Spring" has been escorted by Wanda. Looking at the film of the current green onion project, the one who is photographed is likely to become a little dark horse.

　

This film, which was selected for the 4th Green Project, starred by Yao Chen,, and so on, can be called the best combination of personal expression and commercialization pursued by the current Green Project, and it has been finished. And, as a producer, was selected for the fifth shallot program, which was officially launched in July this year.

　

Talking about the future development direction of the Green Onion Project, Wang Hongwei said that even if the reaction in the market is weak, I hope that the industry can see the ideas, concepts and the ability to shoot feature films of this group of young directors: "Our goal is not only to push a film, but more importantly, a group of directors can become such a generation that can take over in the future China films, especially in the mainstream film market."

The Biodiesel Industry Development Policy (hereinafter referred to as the Policy) recently released by the Energy Bureau proposes to build a sustainable raw material supply system that is suitable for the characteristics of China’s resources, mainly based on waste oils and supplemented by wood (grass) non-edible oils.

　　In order to achieve the above objectives, the Policy proposes that the provinces that develop the biodiesel industry of waste oil should build a relatively complete recycling system of waste oil and improve the laws and regulations on recycling; Initially establish an oil supply model for energy crops (plants); Explore and optimize microalgae culture and oil extraction technology to achieve a breakthrough in microalgae biodiesel technology.

　　The Policy also requires that biodiesel production enterprises must build a complete and reliable raw material supply system. Biodiesel production enterprises with waste oil as raw materials should formulate a perfect waste oil supply plan, focusing on the connection with the provincial biodiesel industry special plan, and sign a long-term contract or agreement with the waste oil supply unit that has obtained the business license to clarify the source and quantity of waste oil. With oil-bearing energy plants as raw materials, raw material planting bases of corresponding scale should be built.

　　The Policy also requires that the yield of biodiesel products (calculated by convertible substances) should reach more than 90%, the consumption of methanol per ton of biodiesel products should not be higher than 125 kg, the fresh water should not be higher than 0.35 m3, and the comprehensive energy consumption should not be higher than 150 kg of standard coal; By-product glycerol must be recovered, separated and purified; "Three wastes" are discharged up to standard. Biodiesel production facilities that still fail to meet the requirements within two years should be eliminated.

　　The Policy encourages the promotion and use of biodiesel in key areas of air pollution prevention and control such as Beijing-Tianjin-Hebei, Yangtze River Delta and Pearl River Delta. Encourage automobile and ship manufacturers and related research institutions to optimize the design of diesel engine systems and give full play to the power, energy saving and environmental protection characteristics of biodiesel blended fuels.

Menghai Jinshi Agriculture Co., Ltd. is located in Banggang Village, Mengsong Township. The company focuses on standardized cultivation, large-scale production and industrialized operation of citrus, with 26 full-time employees. With the strong support of the county party committee and the county government, the company actively explores and implements the development model of "Party organization+company+cooperative+farmer", builds the party organization in the industrial chain, gathers party member in the industrial chain, makes the people rich in the industrial chain, builds the brand in the industrial chain, and takes the road of the whole industrial chain development, with about 300 employees per season, which drives the local people to increase their income by more than 1.1 million yuan every year.

Build a strong organization to lead the development of enterprises

The company attaches great importance to the leading role of party building in development. In June 2017, it established a party branch, insisted on building teams, strengthening organizations, grasping demonstrations, promoting the construction of party organizations and promoting the development of enterprises.

First, build a strong team to lead the development.

Adhere to the "three trainings", train the production backbones into party member, party member and party member, and train the production backbones into managers, and truly select people who know how to operate, manage and have leadership skills to the post of branch secretary, thus building a party member team with high quality, strong ability and good function.

The second is to promote development by pairing and building together.

The party branch of the company gives full play to the advantages of the enterprise’s industrial characteristics, actively cooperates with the general party branch of Banggang Village, and carries out work in the aspects of activity interconnection, complementary development and common solution of difficulties, so as to promote the deep integration of party building work and industrial development. Through the leadership of the Party branch, we fully mobilized the enthusiasm and initiative of the masses, further revitalized idle land resources, successfully transferred 3,000 mu of idle land, paid more than 6 million yuan of land transfer funds, and built 1,500 mu of "standardized orchard+citrus planting base".

The third is to give full play to advantages and help development.

The company actively organized party member to carry out household publicity and policy guidance, and organized the masses in the mode of "company+farmers" by adopting the mode of "big growers showing themselves". More than 20 households participated in citrus industrial planting, attracted about 300 seasonal employees and paid more than 800,000 yuan in wages every year.

Doing a good brand to promote industrial development

Adhere to green agriculture, quality agriculture, strong brand agriculture, and promote mountain specialty products to become high-quality goods.

The first is to expand the industrial scale. Relying on the good business environment in Menghai County, in 2022, the company signed an investment agreement with Shuangjiang Siwu Citrus Fruit Industry Co., Ltd. through the government platform of state investment projects, with a total investment of 150 million yuan, and will build a large-scale pollution-free citrus production base of 3,000 mu, with an annual output of 10,000 tons, total sales of more than 80 million yuan and tax revenue of more than 5 million yuan.

The second is to overcome technical problems. The company pays close attention to the transformation and study of modern agricultural technology, establishes citrus demonstration planting base, vigorously develops environmental protection and comprehensive development of resources, and integrates livestock and poultry breeding, biogas production, intelligent greenhouse and micro-drip irrigation water-saving technology to build a modern orchard with less consumption and more output and multi-level recycling. The citrus planted by the company went on the market one month earlier than the products of the same period on the market, winning the market opportunity; The newly developed "seedless citrus" has won wide recognition from consumers, and truly transformed the resource advantage into industrial advantage, competitive advantage and development advantage.

The third is to optimize the management mode. The management mode of "company+technology+order base+demonstration base+farmers" was adopted, which effectively reduced the procurement and transportation costs in other places, promoted the development of upstream and downstream industrial chains, and effectively promoted the people to increase their income and become rich.

Interest connection drives the development of the masses

The company constantly improves the system and mechanism, adopts the mechanism of linking agriculture with agriculture such as order purchase, drives farmers from "small production" to "big market", forms a pattern of complementary advantages and division of labor and cooperation in the industrial chain of enterprises and farmers, and promotes the stable income increase of the masses.

The first is to enhance the development stamina of the masses. On the basis of helping the masses to develop, the company extended the chain of assistance. The company established a guaranteed purchase mechanism with poverty-stricken households in Mengsong Township. On the premise of ensuring quality, it gave priority to purchasing oranges from poverty-stricken households, and provided unified services such as "material supply, technical guidance, and market sales" to help the masses cut costs and increase income, which not only enhanced the development potential of enterprises, but also carried the development support of the masses.

The second is to improve the overall quality of the masses. In view of the technical shortcomings of fruit farmers in orchard management, pest control, etc., party member, who is familiar with the national language and has technical expertise, and his employees have been waiting for a long time to carry out technical guidance on cultivation and management. Regularly carry out citrus planting guidance and business training, invite state and county experts to carry out various trainings for more than 10 sessions, benefiting 3000 people, realizing the transformation of orchard from extensive management to refined management, and improving product quality and family income.

The third is to fulfill corporate social responsibility. Always adhere to the principle that "non-public enterprises will always follow the Party" and show their gratitude to the Party with practical actions. In 2021, the Party branch of the company organized employees to express condolences to the frontline guards on the border for many times, and donated 30,000 yuan for strengthening the border and preventing and controlling the epidemic, supporting the infrastructure construction of villages, subsidizing poor students, etc., and helping the masses solve practical difficulties with their hearts.

Original title: Mengsong Township, Menghai County: "Small Fruit" Drives "Great Development"

1905 movie network news "You rob me, I rob you, the account is right!", the 2024 absurd crime comedy film released the "Rich Together" version trailer and the "Tribulation in Tribulation" version poster, highlighting the film’s dark humor, and all the characters in the film were also revealed.,,, Playing three "poor ghosts" temporarily organized a group to rob, but they met with other gangs who were not good, and even played a police officer, Sister Jiang, who was chasing all the way, all forces You rob me, I rob you, a good show after the mantis catches the cicada and the yellow bird is about to debut. The movie "Temporary Robbery" was directed by the producer and Mai Qiguang, and gathered three generations of old, middle-aged and young people in the Hong Kong circle to focus on a continuous series of robberies, which will be released nationwide on January 19, 2024.

Three poor ghosts are rich together in two robberies, and a group of bandits will gather with you to rob him and make his appearance

In the "Rich Together" version of the trailer released by the movie, the gangster Mei Lantian (played by Guo Fucheng) said "how much money are you short of" as an opportunity to uncover the prelude to Mei Lantian inviting the poor ghosts Ah Gui (played by Lin Jiadong) and Mu Ronghui (played by Ren Xianqi) to form a temporary group to rob. One gangster, two gangsters, a series of robberies that make people laugh and laugh came into being. The gangsters robbed the foreign exchange store, the street gunfight was about to break out, the stolen money changed hands several times, and the profiteers, thieves, thieves, police, gangsters and other people of different identities met because of the "bag of money". The mantis caught the cicada, and the yellow bird was behind, and all kinds of people gathered to stage a absurd drama of "you rob me, I rob you". The structure of the multi-line narrative, the humorous atmosphere, the high-energy reversal of the plot… Director Mak Qiguang aimed the camera at the ordinary citizens and the little people at the bottom of the streets of Hong Kong, and depicted the "livelihood" of ordinary people who worked hard for money.

The easter egg at the end of the trailer has planted a new suspense for the audience. In the black and white screen, the temporary robber group is planning a plan. Mei Lantian stuttered and asked: "I don’t know how to divide the money after talking for so long." The stupid and witty tone is anti-" gangster "character, and Murong Hui is like a decision maker waving" adjourning the meeting ". The story is confusing, and the truth is difficult to distinguish. What is the truth? It needs to be released urgently. Since the official announcement of the movie "Temporary Robbery", the popularity has continued to rise. Whether it is the film’s unique temperament, absurd and humorous style, or the image of the buck-toothed bandits starring Guo Fucheng, it has refreshed the audience. They have praised "the three bandits are here" and "I haven’t seen this type of Hong Kong film for a long time". As the characters continue to reveal their characters, the story concepts are also released layer by layer, arousing the audience’s infinite curiosity and conjecture.

The main creator draws materials from ordinary people’s lives and creates sincere creations, absurd + police and bandits to create black humorous Hong Kong films

In a limited space, can there be more drama? On the group portrait poster of the "robbery in robbery" version released simultaneously by "Temporary Robbery", the bright yellow background is filled with scenes from foreign exchange shops, car repair shops and other trailers. The 10 actors are separated on the upper and lower sides of the stairs covered with small advertisements, arranged in an arc, and pointed their pistols at the previous person with interesting expressions and shapes, perfectly restoring the robbery scene of "you rob me and I rob you". The picture is very humorous and at the same time conceals clues. Ren Xianqi and Zhang Keyi are at the beginning and end of the team respectively. Murong Hui, played by Ren Xianqi, holds his head in his hands and has a terrified expression on his face. He is being threatened by the fat fork he plays; Lin Jiadong plays Ah Jiao, holding a bag with "coward" in his hand, and the toy pistol in his hand is very suitable for the scene. He is being pointed at by his wife Yilin with a gun in her pregnant belly; Bingbing hides behind Anan, the thief downstairs, the big head of the thief, the robber Mei Blue Sky, and the underworld shrimp raise their guns less closely. The police officer Jiang Sister holds the gun with both hands at the end of the team, heroic and righteous. Among them, Mei Lantian, the gangster played by Guo Fucheng, is wearing red clothes that attract the attention, carrying a bag of money and holding an AK in hand, and sunglasses can’t hide the hostility, showing domineering behavior. The key prop throughout the movie, the red taxi, is parked at the door of the repair shop, silently watching the absurd robbery that is full of fun.

The movie "Temporary Robbery" tells the story of the gangster Mei Lantian, the taxi driver Ah Jun, and the nursing home social worker Murong Hui who accidentally formed a team to rob. Three decadent middle-aged people were involved in a storm in order to track down a huge sum of money they had stolen. At the same time, the female police detective Jiang also locked the three people. You rob me, I rob you, and for a while the gangsters each have a ghost, and a bag of money actually caused a shocking robbery… Who robbed who? The creative inspiration of this film comes from the plight of the peers around director Mai Qiguang who are short of money, and relies on the insight into the current situation of ordinary people’s lives. After five years of painstakingly polishing the script, the director and team combined absurd and police elements in the creation to deconstruct a series of social issues in a dark and humorous way. Behind the absurd banter, there is also no lack of Maimai’s warmth of humanistic care.

The movie "Temporary Robbery" is produced by Er Dongsheng, directed by Mai Qiguang, starring Guo Fucheng, Lin Jiadong, Ren Xianqi, and Zhang Keyi, starring Lin Xue,,, Wang Minde, Sun Jiajun, Zengbit, Fu Jiajun, Zhang Songzhi, Jiang Zhuowen, Chen Yishen, and Wang Songyin. It will be released nationwide on January 19, 2024.

On July 16, 2023, the fourth season of CCTV’s "Hello Life" is about to go LIVE. As the only designated car for the column, "120,000-class large 7-seat electric hybrid SUV" Blue Power E5 will also take viewers and friends to enjoy a better life. Every Sunday night at 19:30, lock in CCTV-3 variety channels or CCTV, CCTV Video, Youku and Tencent and other online platforms to watch the fourth season of "Hello Life". Blue Power E5 will say hello to life with everyone!

"Hello Life" is a new youth travel life slow variety show jointly produced by China Central Radio and Television Station and CCTV Network, and produced by CCTV Variety Channel. This July, the fourth season of the show will return heavily, and will continue to lead everyone to feel the rainbow after the wind and rain, the fireflies in the jungle, the warm singing under the stars, and the hearty laughter between the streets… Life is beautiful like a dream. In the natural flow, everyone on the road can enter their dreams, realize their dreams, and become the protagonist of life, so that everyone’s emotions and emotions can be best presented. In this season’s program, hosts Nigel Matti and Sanbing will travel to Shenzhen, Xilin Gol League, Hangzhou, and Harbin with many star guests to explore the deeper depths of real life and say "hello" to life more sincerely! In the fourth season of "Hello Life", the only designated car for the column, Blue Electric E5, has also become a travel partner for hosts and guests to experience a better life during the journey, and will accompany the "sunny combination" Nigel Matti and Sanbing along the way, as well as Yu Kewei, He Classmate, Yue Yunpeng, Xu Mengtao, Ayunga, Wang Bingbing and other guests, to escape from busy work and return to the natural and authentic life state with a positive and optimistic attitude, talk about life experience, and share life aesthetics.

The "120,000-class large 7-seat electric hybrid SUV" Blue Power E5 has the same leading advantage of easy to use and good province. It not only has a large space, but also has a 5 + 2-seat super space to bring a wide field of vision and a comfortable driving experience. In addition, it has a long battery life. The WLTC comprehensive cruising range is as high as 1150km, and there is no mileage anxiety. It can also get a green card, enjoy the green card advantage of unlimited travel and no purchase tax, and save 10,000 yuan in Shanghu. The key is also to save energy consumption. The fuel consumption of WLTC’s 100-kilometer feed is only 5.5L. It can save 50,000 yuan after five years of 100,000 kilometers of use. The NEDC pure electric cruising range is as high as 110km, and travel is more economical. In addition, Blue Power E5 is also the first model to be equipped with HUAWEI HiCar 3.0 in depth, sharing Hongmeng Technology, which is

In order to further promote the popularization of new energy vehicles and upgrade rural travel methods, Blue Power E5 actively responded to the national call of "New Energy Vehicles to the Countryside". From now until September 20, it will launch the "Thousand Counties and Thousand Towns Tour Exhibition", actively guiding rural residents to go green with practical actions, and helping the popularization of new energy vehicles in the rural market. This season’s "Hello Life" focuses on the theme of "Rural Construction and Development".

What kind of excitement will the "sunny combination" and "CCTV group soul" gather together? Which hot land and which stories will the star guests in the new season find? All is well, please follow Blue Power E5 to set off together. Lock in CCTV-3 variety channel at 19:30 every Sunday night, or CCTV, CCTV video, Youku and Tencent and other network channels, Blue Power E5 accompanies you to love, and say "Hello" to the longing life together!

In order to further enrich the resources such as exhibitions, lectures and social cultural relics appraisal of Pudong History Museum, recently, Pudong History Museum and Shanghai Collection Association held a series of activities of co-construction and co-education in the museum.

More than 100 guests, including relevant personnel from Shanghai Collection Association, Pudong New Area Cultural Relics Protection Management Office, Pudong History Museum and cultural enthusiasts, participated in the day’s activities. On that day, the folk treasure-hunting activities were the most popular, and the organizers specially invited Zhu Li, former general manager of Shanghai Cultural Relics Store, distinguished professor Shen Asia, researcher of Shanghai Museum and ancient conservatory of Fudan University. They are all famous experts in antique art appraisal. Many collectors at the scene heard the news and came out with their own collections for experts to appreciate.

Most of the objects brought by collectors are ancestral objects, including porcelain, calligraphy and painting, ancient coins and many other categories. Through the professional guidance and appraisal of experts, everyone has a new understanding of their "baby". Many participants said that it is still meaningful to invite experts to treasure in the museum, hoping that Pudong History Museum can provide more opportunities for appreciation and exchange for folk collectors.

1905 movie network news On the evening of November 26th, the movie Long Live was premiered in Beijing. Directors Cheng Gong, Ren Changzhen and the producers of the film appeared one by one. Go player Ke Jie also attended the premiere as a special guest to watch this documentary film. Although the host never let go of the feeling of chatting with Ke Jie and playing chess with artificial intelligence, Ke Jie returned to the movie, saying that after playing chess with artificial intelligence, he felt that life was not easy and long live life.

　

Long live life records the living conditions of more than ten ordinary Chinese in 2017. Among these people, there are female taxi drivers, street singers and couples, and uncles who pedal three rounds in Lhasa. These people who have no intersection constitute the hardships and helplessness that the film wants to tell, but everyone is silently insisting on life.

　

When talking about why he invested in such a film, producer Guo Binggang said: "As a practitioner in the industry, a director once said that in our industry, people are doing it and the sky is watching. The industry is progressing, and practitioners should provide the audience with nutritious works. Long live life is one of them. This film is kind and warm. I believe this film will go well in the future. This film can make some contributions to the industry. "

　

The two directors have worked closely together before, and the title of "Long Live" comes from a TV documentary that they collaborated on 10 years ago. Ren Changzhen, one of the directors, said that this cooperation was planted 10 years ago. She recalled that she was still a TV director who filmed celebrities instead of ordinary people, while Cheng Gong was an advertising director.

　

Recalling the filming process, Cheng Gong said that it was very easy: "It is easy to make a film. It’s very simple for us. It took three months. After 45 days. This movie is over. Very easy. " But to his surprise, the film was well received during roadshows in more than 20 cities.

　

Go player Ke Jie, as a special guest, also took the stage to talk about his feelings. Although he was also "digging a hole" by the host and talked about his experience of playing chess with artificial intelligence, Ke Jie still smiled and said that after playing with AI, he knew that life was not easy, and then said: "After playing chess with AI, I will feel that life is very beautiful, long live life."

　

The movie Long Live will be officially released on November 27th.

　 　 　 　Core tip:

1. Xiaomi, which has not cooperated with any traditional mobile phone brand, has achieved the fastest growth, and the ecological chain strategy is the main reason, which is a unique solution for Xiaomi to expand the market power boundary.

2. Xiaomi’s ecological chain is an active strategy. It takes capital and values as a link, binds a large number of hardware suppliers and entrepreneurs, achieves scale effect, and enhances user stickiness, which is essentially different from the so-called ecological strategy of promoting "ecologicalization".

3. Xiaomi makes its controllable organizational boundary always coincide with the market boundary through the ecological chain, thus effectively achieving the purpose of eliminating competition, improving penetration and preventing entry, which is a very clever market power strategy.

　

Case Provision | Case Center of Entrepreneurial Dark Horse College

Author | Nine Records

　

04

Ecological chain:

The Resource Boundary of Xiaomi Market Power

In fact, among Internet people, Lei Jun is neither the first one to make a mobile phone, nor the last one, nor even the most famous or determined one.

In September 2015, 360 CEO Zhou Hongyi posted a message in a circle of friends, "… … I’ll fuck anyone who stops me from making a mobile phone … …” His remarks were aimed at his partner Coolpad. In December 2014, Qihoo 360 reached a strategic alliance with Coolpad to set up a joint venture company. Coolpad provided smart phone design, research and development, technology, manufacturing, supply chain management, quality control, marketing, after-sales service and other resources, and 360 provided security software, mobile application design and online marketing and promotion resources. But then Coolpad announced the cooperation and shareholding of LeTV, which triggered Zhou Hongyi’s warning.

According to media reports, as early as before the rise of Xiaomi, Zhou Hongyi had talked about cooperation with Huawei with the model of "selling mobile phones at low prices to gain users and Internet advertising distribution to gain benefits", but the cooperation failed. There is also Netease Ding Lei, who found his own shareholder Duan Yongping. As the founder of BBK, Duan Yongping also has a considerable say in vivo and OPPO, and then he didn’t talk it over.

There are several similar examples. In terms of "Internet thinking" and the number of users, Ding Lei and Zhou Hongyi may not be weaker than Lei Jun, but they would rather choose the form of cooperation with mobile phone brand manufacturers, because they know that the traditional ecological model of upstream suppliers and downstream agents is naturally beneficial to enterprises that have been in the industry for a long time. This "market barriers" is hard to break, so it is better to cooperate.

However, today, we can see that Xiaomi, which has not cooperated with any traditional mobile phone brand, is the fastest growing "Internet mobile phone". The difference in strategy is the main reason for the difference in results.Xiaomi adopts a power strategy based on value creation rather than a competitive strategy, which is the ecological chain strategy.

1. Converting capital into resources

To understand Xiaomi’s ecological chain strategy, we must first understand Xiaomi’s position in the market.

Even though a certain power base has been formed in the market through the export of values and fan base, Xiaomi is still at a natural disadvantage in key dependence and trading partnership.

One of the most realistic problems is the competition for upstream resources. Mobile phone hardware industry,There is an extremely complex supply chain system, and each mobile phone company often has hundreds of suppliers.Both start-ups, medium-sized enterprises and large enterprises are facing the challenge of supply chain, and some spare parts even need to be reserved one year in advance. Even with Apple’s power position, every generation of apples may have difficulties in supply in the first two months, and all "hunger marketing" is helpless.

In 2013, Xiaomi once launched a 10400mAh mobile power supply from 69 yuan, but it was out of stock for a long time, and the problem was in the industrial chain. According to media reports at that time, some small and medium-sized brand customers complained that Samsung shelved its plan to supply millet batteries at low prices. Since then, Xiaomi Note2 has also been postponed because it can’t get the most tight AMOLED screen. It is understood that after the decline of Xiaomi’s growth rate in 2015, due to the upstream supply chain manufacturers’ adjustment of the supply plan for Xiaomi to prevent risks, Xiaomi suffered a four-month shortage, indicating that Xiaomi in the supply chain still lacked strong power endorsement.

Another problem lies in the downstream user service link. As an Internet company, Xiaomi’s purpose is not only to sell mobile phones, but to retain users and maintain relationships with users through new retail channels to form long-term services. But if there are no more hardware products besides mobile phones, this business model is not established. Because buying a mobile phone is a very low-frequency behavior, there must be a higher-frequency transaction interaction between Internet companies and their users. In cmnet, software is generally downloaded free of charge, so we must rely on hardware to solve this dilemma.

An obvious problem is that more people are needed to make more kinds of products, but Xiaomi’s pursuit of concentration means keeping the company as small as possible and not doing too many things. If hundreds of hardware products are made, the management pressure and communication pressure are unimaginable.

Like other manufacturers, Xiaomi can also choose to cooperate, but cooperation will lead to the concession of Xiaomi’s product values, with the increase of intermediary agents and circulation links. Many cross-border Internet entrepreneurs have lost their power and lost themselves in cooperation.

Through the establishment of cognitive and relational boundaries, Xiaomi has been invincible in how to sell mobile phones, but it still needs to gather more strength to break the constraints of resources and become the master of the market.

Every entrepreneur has his own unique gift. Lei Jun’s gift is not only his enthusiasm for the Internet, but also his capital operation. He knows what capital wants, and he also has a letter of trust for capital. After 2013 and 2014, with the rise of "Double Innovation", thousands of new intelligent hardware entrepreneurs appeared in China, and they showed Lei Jun a new solution.

As a result, Xiaomi began to use capital to solve the problem. From 2013 to 2014, Xiaomi invested in 25 startups a year.

Xiaomi has two teams to face the cooperation of the ecological circle. One is the ecological circle fund within Xiaomi, which is led by co-founder Liu De. The second is Lei Jun’s Shunwei Fund. In addition, in June 2016, Xiaomi announced that the private bank "Sichuan Hope Bank" jointly sponsored by New Hope Group and other enterprises was officially approved by the China Banking Regulatory Commission. On September 1st, Xiaomi and China UnionPay officially released Xiaomi Pay. In May 2017, it reached a fund cooperation of 12 billion yuan with Changjiang Fund.

Different from the natural ecosystem around big companies, Xiaomi’s ecological chain is a market strategy. The traditional industry ecological chain is that manufacturing enterprises integrate upstream and downstream by means of procurement and distribution. The ecological chain of Xiaomi is to gather a group of startup companies through capital means to realize "group purchase" in the upstream and enrich the products of Xiaomi’s new retail channels in the downstream.

In November 2014, Xiaomi made a round of financing for air purifiers before the air purifier products were listed, with a valuation of 25 million US dollars. If in the traditional supply chain mode, Xiaomi can only get market power equivalent to his actual investment (millions of RMB); However, under the eco-chain model, the power resources obtained by this product are equivalent to those of a company with a valuation of $25 million. In this way, Xiaomi changed the expected capital investment into realistic resources.

This is an original new gameplay that binds products, capital and users together. It is precisely because of this innovation that Xiaomi has used thousands of people to do things that tens of thousands of people can do, and firmly held his own values and did not compromise with the old tradition.

In the animal world, small and weak animals always have to erect their feathers and expand their bodies in the face of a large number of hostile opponents, so as to scare off their opponents. The same is true for start-ups. If they shrink in a corner and are timid, they will definitely become the dish of their opponents.

The ecological chain is another key link in the construction of Xiaomi’s market power. Through the ecological chain, Xiaomi forms alliances with some start-ups by means of capital, and at the same time makes them no longer competitors.

If Apple’s success benefits from a complete ecological chain circled by its own IOS system, then Xiaomi’s ecological chain is an active strategy. It takes capital and values as a link to bind a large number of hardware suppliers and entrepreneurs. On the one hand, it achieves scale effect, on the other hand, it also enhances user stickiness, thus building Xiaomi’s resource-based power boundary.

2. "Xiaomi Ecology" is not "LeTV Ecology"

It is worth noting that Xiaomi’s ecological chain is a market strategy, which is essentially different from the "ecosystem" naturally formed around large enterprises. Xiaomi’s ecological chain is a product of intentional cultivation, not a decentralized network connection, but a core alliance strategy.

The concept of "ecosystem" comes from biology, which was introduced into the field of organizational theory by American sociologists in the 1970s, and formed the school of "organizational ecology". After the rise of the Internet, some scholars put forward the similarity between commercial ecosystem and biological ecosystem, and there are also various relationships among food chain, macro environment and competition. They named such an organizational form that is highly dependent on external cooperation and resource management as "Network Based Organizational Form", which is different from the traditional organizational form that is highly closed or highly dependent on market transactions and has clear boundaries, which is what we now call "ecological model" or ".

Ecology and platform are two concepts that are often confused, although they have many connections. Simply put, the platform strategy is to build a market, while the ecological strategy is to build a city. The core of platform strategy is to link bilateral relations to match transactions, while the core of eco-strategy is to create a closely linked multi-format system by constructing and managing extensive and multi-level cooperative relationships (long-term strategic cooperation agreements, investments, joint ventures, mergers and acquisitions and other non-product transactional relationships).

If Xiaomi only buys products from various startups, or only lets enterprises sell products in Xiaomi channel, Xiaomi is the builder of the platform, but Xiaomi is doing "investment+incubation": enterprises in the ecological chain are independent companies. Xiaomi generally holds 20%-25% shares in eco-chain companies, jointly defining products, leading design, assisting in research and development, and endorsing the supply chain. Therefore, the ecological chain of millet has greater diversity and more complex symbiotic relationship.

In the business ecosystem, energy and nutrients mainly appear in the form of user flow. In the process of Alibaba’s development from a platform to an ecosystem, massive users have always been the core and solid foundation of its construction. Similarly, Tencent announced the implementation of the open strategy to build an ecosystem around WeChat, which obviously comes from hundreds of millions of highly sticky users of WeChat.

In addition, in the organizational ecosystem, the value chain assumes the role of food chain. In nature, the food chain is the core organizational logic, which determines the flow and transformation path of energy and nutrients. In Xiaomi ecological chain, the development and release of hidden value of user groups depends on the construction of value chain in the ecosystem.

Therefore,Xiaomi’s ecological chain is actually an extension of its own power boundary. As the core of the ecological chain, Xiaomi should provide a user base that can support the healthy development of the whole ecosystem and control the key links of the value chain/network, which is by no means possible for every enterprise.

In the domestic A-share market, one company once set off the ecological banner, that is LeTV.

Jia Yueting, chairman of LeTV, said: "Our competition with peers can no longer be measured by the gains and losses of a certain stage or point, but more depends on the connection and integration of all links in the ecological chain and the cross-border innovation and continuous subversion on this basis." An open letter to employees.

As a result, LeTV put forward an "eco-anti-"business model, established an all-encompassing ecosystem from sports programs to online car rides, and believed that mutual diversion among eco-enterprises would have great commercial value. For example, from the very beginning, Jia Yueting’s positioning of LeTV’s mobile phone was to attract users with video and become the entrance of LeTV’s ecological terminal, so LeTV’s mobile phone has been sold below the cost price. (April 2015, China Entrepreneur Magazine, "Don Quixote • Jia: The Lonely Journey of the Subverter.

Letv’s typical imagination of "ecological opposition" is: in the stadium scene, there is a moment when people have the strongest desire to buy — — When you see Messi kick the ball into the goal, then you will think, I’ll buy a pair of shoes like this!

Later we learned that it was a dream.

The out-of-control LeTV Ecology can only make a fuss about related party transactions, deferred income tax and equity distribution of subsidiaries, and hide losses.

However, LeTV’s failed attempt does not mean that the development prospect of Xiaomi Ecology is gloomy. Xiaomi’s ecological logic is much simpler and more effective: Xiaomi does not expect related transactions between eco-chain enterprises to bring income (LeTV’s case proves that this income is unreliable), but uses the eco-chain to improve the overall market efficiency.

Moreover, there is always a core in Xiaomi’s ecological chain — — Xiaomi mobile phone and Xiaomi brand values, which provide fast-growing resources and channels for other start-ups. Unlike the "loss-making" sales of LeTV’s mobile phone, Xiaomi’s mobile phone has always been making money, although it claims low gross profit margin.

In the early days of the rapid growth of Xiaomi’s mobile phone, some suppliers complained that Xiaomi’s "Internet thinking" was good, but it was predatory, which depressed the profit margin of supply chain enterprises. However, using the eco-chain strategy, as of the first quarter of 2018, Xiaomi has brought more than 210 eco-chain enterprises into its own track, further enhancing its power position in market negotiations, and also allowing suppliers who cooperate with Xiaomi to have more orders.

It can be said that Xiaomi effectively uses his power to eliminate the dissatisfaction of suppliers, and at the same time, it is further transmitting Xiaomi’s values — — There will be a large number of users coming with the price reduction, which is the reappearance of Xiaomi’s cognition of market power in the industrial chain relationship.

In December 2015, Lei Jun proposed that the ecological chain should be an independent brand. Three months later, "Mijia" was released.To some extent, Xiaomi’s "Mijia" ecological chain system can be regarded as the intelligent hardware version of the App Store.The App Store launched by Apple in 2008 is a successful example of a single enterprise establishing an ecosystem, which determines the acquisition form of applications and services in the era of mobile Internet.If the smart hardware in the future is also the first choice to enter the track of "Mijia", the growth space of Xiaomi will be limitless.

3. Under the rule of Xiaomi

For an ecosystem, win-win is the premise of growth. An ecological chain that can continuously share benefits for all participants is fundamentally sustainable.

Then, can everyone achieve a win-win situation in the Xiaomi ecological chain?

The answer is yes.

First of all, the ecological chain has changed the relationship between Xiaomi and other startups and reduced the future risks of Xiaomi.

In the early days, Xiaomi’s market power cognitive boundary of "high quality, high value and high cost performance" not only affected the big manufacturers it aimed at, but also affected the future of many entrepreneurial projects.

In 2014, at the peak of domestic intelligent hardware entrepreneurship, entrepreneurs, investors and entrepreneurs often asked the same question, "If Xiaomi made your product, how would you respond?"

This antagonism leads to many situations of "cottage" millet. In a dialogue with senior government officials in 2015, Lei Jun also specifically mentioned the proliferation of counterfeit goods. Because of Xiaomi’s strong influence in the hearts of consumers, some startups in the south began to make Xiaomi’s mobile phones and accessories, which caused many problems. Xiaomi once asked the government to increase anti-counterfeiting efforts.

However, with the development of Xiaomi’s ecological chain, these voices have gradually weakened. If you can get Xiaomi’s investment and guidance, why bother to "cottage" it?

This reflects the power of Xiaomi ecological chain.

The future enemies of a company include not only those visible competitors, but also those startups that don’t know where they are. It is impossible to solve the problem simply by relying on competitive strategy. Xiaomi makes its controllable organizational boundary always coincide with the market boundary through the ecological chain, thus effectively achieving the purpose of eliminating competition, improving penetration and preventing entry, which is a very clever market power strategy.

Secondly, the ecological chain has effectively cultivated Xiaomi’s allies in values.

Liu De, the co-founder of Xiaomi in charge of the ecological chain, is a designer and once worked in the Whampoa Military Academy of China Industrial Designers — — University of Science and Technology Beijing is the head of the Department of Industrial Design, and he leads the team in charge of the design of Xiaomi mobile phone.

Liu De divides Xiaomi’s ecological chain into three layers: the innermost layer is the basic hardware such as mobile phone and TV, which is closed and Xiaomi can only do it himself; The second layer is the product directly related to it — — Headphones, charging treasures, bracelets, and IOT devices such as rice cookers, electric kettles, and smart desk lamps are semi-open; The outermost layer is household consumables, such as rice related to rice cookers, filter elements related to purifiers, etc. Xiaomi does not do it himself. The products of the first two floors are also part of Xiaomi’s new retail channel, which can sell the products of the third floor. For example, you can place an order to buy filter elements on the APP page of Xiaomi air purifier.

Xiaomi requires every product to be explosive, and Liu De’s team will personally participate in the design of eco-chain products, and use Xiaomi’s rapid penetration of the market to help these products quickly occupy the market.

In addition to the support of capital and supply chain, Xiaomi will also pass on some explosive methodologies, such as how to simplify the design of a product, reduce costs and meet 80% of the needs of 80% users. When mi band was launched that year, Xiaomi asked the manufacturer Huami Technology to focus on two things — — Reduce power consumption, increase viscosity and improve design. When smart wearable devices cost thousands of dollars in foreign countries, Huami Technology launched the first generation mi band in 79 yuan, which quickly became popular.

The well-known self-media curiosity daily has analyzed the reasons for the success of Huami Technology. They found that in terms of sales expense ratio, relying on Xiaomi’s channel and word-of-mouth marketing, the sales expense of Huami accounted for less than 2% of revenue for a long time, while its peer benchmarking manufacturer Fitbit was nearly 25%. With the help of Xiaomi ecological chain, its procurement cost is also nearly 50% lower than Fitbit.

In order to support the cost of sales, Fitbit’s gross profit margin has been maintained at around 40%. However, the gross profit margin of Huami was only 12.3% and the net profit margin was -4.2% when it produced the first generation of mi band, so it was able to create explosions and cultivate users at a very low price. After the launch of Xiaomi’s second-generation bracelet in mid-2016, the price was raised from 79 yuan to 149 yuan, and the net profit rate of Huami Technology became positive. Therefore, in just three years, the strength of Huami, after being a large-scale brand, has undergone a major reversal compared with Fitbit: the net interest rate of Huami has risen to 8.15%; After 2015, Fitbit’s revenue continued to decline and it fell into a loss.

Of course, there are also some eco-chain enterprises that don’t like to survive in this system. Because the Xiaomi ecological chain emphasizes cost performance, both Lei Jun and others in the company like to say, "The biggest disadvantage of this product is that it is too cheap!" It is difficult for these enterprises to obtain higher gross profit within the Xiaomi ecological chain.

In this respect, Xiaomi is also different from Wal-Mart. The ecological chain is an open platform, which only participates in the incubation of start-ups from 0 to 1, and the later development is not limited. Entrepreneurs can make their own brands outside the ecological chain, and it doesn’t matter if they don’t even accept Xiaomi’s investment. Xiaomi is not so much a channel provider as a product gathering place with common values.

With the help of ecological chain, Xiaomi has effectively constructed the resource boundary of its own market power, so its market position is more stable.

05

Replay

The previous article is magnificently about 20,000 words, but it is actually just studying a problem:What is the reason why Xiaomi can succeed in the market?

Around this problem, we have two findings:

First of all, we find that power strategy, not competition strategy, is leading the growth of Xiaomi.

As mentioned above, the growth of Xiaomi is a textbook case of market expansion. As a start-up, they have established a set of.Market power system in the name of "Xiaomi mode": establish the brand identity in the era of mobile internet with cost performance and explosion rate, and use this to push back the improvement of organizational efficiency and establish the cognitive boundary of power; Turn customers into "fans" and let them participate in the design and promotion of products, so as to form the relationship boundary of enterprise market power; Build an ecological chain by means of venture capital, share the risk of market demand with small hardware startups, accelerate their growth and expand the resource boundary of enterprise market power.

It is this innovative system that distinguishes Xiaomi from many mobile phone manufacturers, builds and cultivates its own exclusive market, and grows step by step in the environment surrounded by wolves, dancing with the wind and soaring to the top.

From the beginning to the end, Xiaomi’s market decision is to occupy the market "mainly with me". We have not found that Xiaomi has taken the initiative to make competitive efforts to find the gap of opponents or build barriers to prevent opponents from attacking. But because of this, they always hold the initiative of the market.

In the dark horse college of entrepreneurship, according to the mental model, entrepreneurs are divided into two categories: heaven school and earth school. Xiaomi can be said to be a typical Tianpai company. Huawei and ZTE have been communication enterprises for 20 years, and Lenovo, OPPO, vivo and other companies also have rich experience in manufacturing and selling consumer electronic products, all of which are naturally grown in this industry. But Xiaomi is not, Xiaomi is a real heterogeneous — — It is more like the spokesperson of the future Internet product model in today’s social ecology — — If you believe Lei Jun’s prediction.

Generally speaking, Tianpai startups succeed in the market, or they seize the opportunity of social change and create a new industry, such as Ali; Either have some independent innovative technologies and find ways to realize them, such as Baidu. Because it is difficult to break through the bottleneck of resources and relationships, Tianpai startups are generally afraid of fighting with incumbent enterprises in the traditional business environment. But Xiaomi is different. It brings the idea of Tianpai entrepreneurs to the world of local giants and proves itself in the market struggle.

Xiaomi’s method of winning the struggle, specifically, Xiaomi’s method of building its own power in the market through values, rice flour and ecological chain, is more practical for today’s entrepreneurs. Because the opportunities of using innovative tools to change the world in the initial stage of the Internet have become less and less, entrepreneurs are now facing more situations, how to take root in an industry and do their best to create a new and successful company. Xiaomi is an example in this respect.

Secondly, we believe that Xiaomi’s achievements also challenge the traditional company value evaluation system.

In 1970, Milton Friedman, an economist, published a famous article in The new york Times Magazine: Corporate social responsibility is to improve profits. This creed, together with the hypothesis of "rational man" in economics, supports the continuous improvement of corporate profits and the legalization of personal income of shareholders and executives.

However, Drucker, a master of management, does not agree with this view. In his view, profit is the result and should not be the purpose of management. It is the reward given to the owner by the enterprise for its continuous operation, but the purpose of the enterprise must exist in the society.

Xiaomi is such a Drucker-style enterprise instead of Friedman-style enterprise. It is a dream enterprise, not a profit machine, but a startup company that wants to create value for society.

In Xiaomi’s business model, user reputation is the origin, cost performance is the engine, and social media is the accelerator. Everything Xiaomi does is to provide products that are "touching and affordable", and he believes that actively reducing the gross profit margin of hardware will eventually bring the desired business value.

According to traditional business ethics, all enterprises will try their best to avoid the situation of zero gross profit, because that means that your company has no barriers in the market.

But Xiaomi did the opposite. It took the initiative to reduce the gross profit, which was consistent with the words of Amazon founder Bezos:"A large company with low gross profit that can survive is itself the biggest moat."However, it is a big challenge to traditional business values.

Why should an enterprise exist? This involves the fundamental definition of enterprise and even entrepreneur value. The expectations of shareholders are different from the interests of enterprises, and the goal of investors is only to make money.

Interestingly, when Xiaomi went public, most media in China, even a large number of self-media, always unconsciously worried about investors.Look at the value of millet simply from the perspective of making money.People ask Lei Jun again and again, where is the moat, where is the revenue growth point and where is the profit? butFew people study the value of millet from the perspective of society and market. However, few people in the media are real investors in Xiaomi.

In our opinion, the value of Xiaomi lies in the value it creates for users. Xiaomi can become Xiaomi because it is a real market revolutionary and a great entrepreneurial experiment that is still going on.

Moreover, the traditional evaluation system can not reflect the possible changes in the future and the value of entrepreneurs’ personal factors to the company.

On the road to Xiaomi’s success, there are huge contingency factors: if Xiaomi didn’t just catch up with the tide of "double innovation" and loose capital environment in the first four years and rush to the "stratosphere" with the fastest speed, would it be able to survive the twists and turns in 2015-2016? If Lei Jun hadn’t happened to be the president and angel investor of Jinshan, could Xiaomi have won the unthinking support of so many netizens and business partners at first, thus enjoying loyalty and reputation? These questions are hard to answer.

But if we look at it from another angle, it is precisely because the founder of Xiaomi is Lei Jun that it can have these accidental opportunities. Lei Jun’s upward motivation, adherence to Xiaomi’s values, familiarity with the method of "lean entrepreneurship" and his resources, contacts and personality are the necessary conditions for all future opportunities of Xiaomi.

In fact, it is precisely the combination of the founder’s personal characteristics and the entrepreneurial methodology based on uncertainty that makes the startup explode with great energy. Wu Xiaobo, a media person who spent $200,000 to buy Xiaomi shares, said, "Lei Jun himself is the biggest premium of Xiaomi".

For an ongoing change, people always overestimate the change it will cause in the next year, but underestimate its long-term impact.

Looking back now, as Lei Jun said in an open letter on the eve of listing: "In the past eight years, the cottage in China has been completely eliminated; China’s smart phones and smart hardware are getting better and better in quality and cheaper in price, and they are rising strongly in the world … … Xiaomi has also become the fourth largest smartphone manufacturer in the world, changing more than 100 industries through eco-chain products. "

Isn’t it an extraordinary market achievement for a startup company to grow from zero to the fourth place in the world in eight years in a long-standing mainstream battlefield?

It should be noted that this paper only studies Xiaomi as a startup company. When a company gets bigger and bigger, especially after listing, it is likely that some decisions that helped it succeed will no longer apply. According to the case center of Entrepreneurship Dark Horse College, in the future market, Xiaomi still faces at least four main risks:

1) Risk of explosives.Xiaomi’s low gross profit strategy determines that each of their products must be explosive, and the cost should be diluted by explosive products, otherwise it will lose money. Take Xiaomi air purifier as an example, the mold opening cost is 10 million. If only 10,000 units are sold, the cost of each unit will increase by 1,000 yuan. Only after the sales volume can reach millions of units can this cost be reduced to a negligible level. This requires that every product of Xiaomi must be based on the needs of a large number of users, and a large number of people will buy it. However, the preferences of modern users can easily migrate with the head IP, and the demand for diversification is also increasing. The emergence of explosions is very accidental. Once a heavyweight product fails to become an explosive product, Xiaomi may fall into huge financial risks.

2) Fan risk.Xiaomi should become both a popular company and a fan culture company. The contradiction here is, is the growth of fans sustainable? Every company can maintain a limited number of fans. If the number of fans stops growing, the growth space of Xiaomi’s subsequent Internet services and intelligent hardware products will be greatly tested, and Xiaomi will lose its difference from other mobile phone manufacturers. No matter from the perspective of future development or current market, Xiaomi needs new means to interact with users and complete new traffic conversion.

3) Main channel risk.Xiaomi’s ecological chain is a big stove, and Xiaomi’s own brand is a heat source. With waste heat, the surrounding intelligent hardware can be made. But the outside world defines an enterprise, or more from its main channel. Especially in the capital market, I prefer "Friedman-style" enterprises, and it is difficult to understand the ecological practices of startups. Letv’s case is not to be discussed. Since 2014, Haier has launched a "micro-model" to build an entrepreneurial ecosystem and achieved good results. From the beginning of 2014 to the present, Haier’s revenue has doubled, its profit has increased by 70%, and its share price has doubled. However, in the same period, Gree focused on its main business, its revenue didn’t change much, its profit doubled, but its stock price quadrupled. Therefore, no matter how great achievements Xiaomi’s ecological chain has made, the valuation of Xiaomi may be defined more according to its position in the main channel in the capital market.

4) Technical risks.Every startup company will enter the "new normal" of slow growth sooner or later after experiencing a high-speed growth period. At that time, companies without the accumulation of key core technologies cannot have stable market power. The next development of Xiaomi needs to get more source innovations from the outside to the inside, including hard technology.

For a startup, all success is temporary. The greater the achievements in the past, the greater the challenges in the future.

Today, the development of Xiaomi has changed from the company that wanted to "follow the trend" and take a ride on the mobile Internet to the standard-bearer who promoted the concept of "touching people’s hearts and being kind in price". But as of 2017, Xiaomi’s share in the global mobile phone market is still only 6.4%. This shows that changing people’s inherent cognition is the most difficult thing in the world. Even if you are sincerely starting from users, you will not let all users become your fans. This is also the fate of most reformers in history — — There were countless people who wanted to change the world, and eventually they became a supplement to the diversity of the original world.

Today, the mobile Internet has become much more complicated than what Xiaomi imagined when he was born. In the early days of Internet application, companies that master Internet tools in advance may be able to dig the "first bucket of gold" more easily, but in the future, all companies will be Internet companies.

As time goes by, everything that God has given a person will be gradually taken back, talent and identity will lose their aura, fans will get old, fashion trends will change, and all that can be left is what they have fought for at the moment.

Lei Jun said: Kind people will not be too bad luck. We wish Lei Jun good luck! Xiaomi, good luck!

[References]】

[1] Professor Catherine &bull of Stanford University; M• Eisenhardt, Market Construction and Boundary Shaping: Entrepreneurial Power in the nascent market (translated by Yu Ming, Guanghua, Peking University).

[2] Xu Xiaoping, a teacher of Zhenge Fund, talked about Entrepreneurship several times.

[3] Luo Xiaoqu, Ph.D. of Stanford University and former chief strategy officer of the dark horse of entrepreneurship, has made relevant research results on "entrepreneurship ecology".

[4] Notes of Xiaomi, Li Wanqiang, Hong Feng, Gao Ziguang and other partners and executives in the dark horse college of entrepreneurship.

[5] Xiaomi’s internal marketing manual "Sense of Participation" and experience collection "Notes on Xiaomi’s Ecological Chain Battlefield".

[6] Caitlin • Muff, Thomas • Dilik et al., Management Education for the Benefit of the World.

[7] Zhou Hang, Shunwei Capital; Feng Weidong, Tiantu Capital; Dai Saiying, founder of three dads; Liu Jianhong, Peng Gang, former senior executives of LeTV; etc. in the dark horse college of entrepreneurship.

[8] Major media reported publicly.

[For more reading, see Article 12.】

Values, Rice Flour and Ecological Chain: Xiaomi’s Market Power Game (I)

Values, Rice Flour and Ecological Chain: Xiaomi’s Market Power Game (Ⅱ)