Duan Yongping, the founder of BBK, returns to China to live for a period of time every year. He himself is a very low-key person and will not make a big fuss when he returns home. Many people don't know that he was in Shanghai during this time.
Of course, after Huang Zheng’s Pinduoduo emerged as a new Internet giant, A Duan’s name has become well known to ordinary people and is known as the business godfather of a generation. BBK's vivo and oppo are among the top five manufacturers in the world in terms of sales. The glorious achievements of BBK VCD and cordless phones have been revealed. As well as his successful investment case of investing in NetEase and making a hundredfold profit after going to the United States.
NetEase was listed on Nasdaq in 2000, and then experienced the collapse of the Internet wave, coupled with NetEase's financial problems, the stock price fell to $0.64. Aduan opened a position when NetEase's stock price reached US$0.8, and only reduced his position when NetEase's stock price reached above US$100.
How many times is the profit in between? You can imagine how awesome and dazzling this investment case is!
In 2006, Duan bought Buffett's lunch on eBay for US$620,100, which started the process of wealthy Chinese buying Buffett's lunch. The price is getting higher every year. It is worth mentioning that the person he took to have lunch with Buffett was Huang Zheng.
Before that, A Duan was only relatively famous in the circle. He has an account on Xueqiu, "The Great Way Is Intangible, I Am Tangible", where he will share some experiences in stock trading. Moreover, it is specially stated that in order to avoid misunderstandings, we will not comment on domestic business colleagues.
His fans know very well that A Duan is the kind of person who chats when he can and doesn't talk when he can't. He looks very Buddhist, but in fact he has a very thorough view of life and society.
Life is not about arguing with some people to win or lose, but about doing things that make you happy and meeting friends who share the same views.
This will be March 27, and it has been a few days since he and his wife returned to China to visit relatives and friends. Listening to his "little friend" saying these words, A Duan smiled and took a sip of coffee, sitting on the balcony on the fifth floor, savoring the century-old elegance of the Shanghai Bund.
"Let me see, Boss Jing is not necessarily showing weakness to the enemy, or setting up a trap. There is a high probability that he is very dissatisfied with Uber's current performance, so he changed people. And he should have a target candidate, so he first hired his assistant Push yourself to the position of the person in charge and do something drastic. The teacher back then had a saying: Clean the house before treating guests."
To his old subordinates and his younger brother Huang Zheng, he is not an authoritarian parent, but plays a leader-like role. Perhaps this is also his brilliance!
Not everyone can be a business godfather. At least there must be enough business ideas to be implemented by the disciples. Like Godfather Liu, everyone knows what he means as Godfather. If you don’t know, just go to BZhan and read Professor Zhang’s explanation.
And Papa Ma’s various golden sayings are actually golden sayings, not business logic. Lakeside University is so popular, and Jiangnan Club is so awesome, no one really thinks that the logic of Jack Ma's golden words is awesome, right?
Lao Ma is indeed very good at doing business, but others may not be willing to teach you the real thing. And you may not know how to teach it. But Aduan can guarantee that there are a group of disciples who can learn it and have the same way of thinking in running a business.
These words made Huang Zheng slightly silent. He said that Boss Jing was "whimsical" in two ways.
First, he felt that it was a bit nonsense to use this matter to dig a hole by replacing Jing Gao with a new person in charge of Uber. I was stunned.
Second, he felt that it was unreasonable for Jing Gao to push his assistant to Uber and try to turn around performance.
Assistants can do a lot of things, but not every assistant ends up being a great person. He has started many businesses over the years, and Pinduoduo is the most successful. He has also met quite a few characters. Have your own understanding of the position of assistant.
But now A Duan actually thinks this way.
Duan Yongping smiled slightly and didn't say much. He doesn't like preaching, he just likes to talk.
He had met Igao in Silicon Valley in the United States, and he knew a little about this little brother who was two wheels younger than him! For example, despite the fact that Jing Gao likes to hide behind the scenes, Jing Gao actually has a very strong personality.
This kind of strength is not the kind of arrogance or brainless self-confidence, but a kind of confidence that comes from the heart: So do this as I say!
In addition, after just a few hours of contact in Silicon Valley, he found that Jing Gao particularly admired the teacher, was familiar with Mao Zedong's Selections, and could practice and apply them in business wars. A very knowledgeable entrepreneur. He is not the kind of young man who makes a fuss or the rich second-generation entrepreneur who pretends to be deep and steady.
Huang Zheng thought for a moment and said, "A Duan, do you think Uber is a stock that you can invest in?"
Two years ago, Phoenix Fund begged him to invest in Pinduoduo and develop e-commerce in order to compete with Alibaba. But he simply disagreed. Because Pinduoduo had already developed at that time and was about to be listed on NASDAQ in the United States, there was no shortage of money at all. What else can Phoenix Fund bring besides money? Hostility with Ali? Totally unnecessary.
In the end, Aduan called him, and he gave Phoenix Fund 5% of its shares, at a high premium of course.
So he actually has a somewhat condescending "advantage" over Jing Gao mentally. I don’t believe the rumors in the world about Boss Jing’s illustrious reputation. Now that the dividend period of the mobile Internet has expired, who can build a business is someone who is not famous for stepping on the "corpse" of others?
However, A Duan seems to have a very good opinion of Jing Gao.
Duan Yongping smiled and put the coffee cup in his hand on the dining table and said, "I haven't studied Uber's stock yet. I'll look at Uber's reports another day."
His main battlefield for value investing is the New York stock market and the domestic stock market. I really don’t pay much attention to Hong Kong stocks.
In fact, he is already paying attention to Uber. If Uber's stock price drops due to this change of chairman and CEO, he may buy shares. Now that Shanghai-Hong Kong Stock Connect has been launched, he has a financial team in Shanghai that is separate from the BBK department. I also took it with me to make investments for my brothers.
It's just that he doesn't want to say more right now, which is actually unnecessary. He doesn't like to persuade others, he just expresses his own point of view. Whether others agree or not is not something he can control.
Huang Zheng nodded and turned to chat with Aduan about other interesting things.
…
…
The news that Uber's chairman and CEO Zhang Yanqi resigned due to personal reasons was announced by Uber, causing great shock. Storms and waves.
Jing Gao did not change his mind to care about the outside world, but continued his ordinary but fulfilling and happy daily life in the capital.
On Saturday morning, he took his beloved wife for a prenatal check-up. While Weiwei was doing musical prenatal education in the hospital, he received a call from Li Yanhong while waiting outside the room: "Mr. Jing, what's going on with Uber?"
Baidu is one of Uber's shareholders and a member of Uber's board of directors, with a seat. Of course, it was not Li Yanhong who served as a director, but the vice president of legal affairs under him.
Jing Gao and Li Yanhong have a good personal relationship, and he said bluntly: "Uber's annual report is too bleak. I really don't have the eyes to see it, so it can only be changed."
Li Yanhong probed: "Mr. Jing, how good is Jing Shufeng? Uber is a core member company of the Phoenix Group!"
Jing Gao smiled and said: "Mr. Li, don't worry, Xiao Jing still has two brushes." Of course he would not reveal his true thoughts, but would help his assistant.
Li Yanhong laughed, thought about it countless times, and said, "Okay, Baidu will support your decision."
"Mr. Li, thank you. We will have a golf date another day. I haven't played with you for a while."
"Okay." Li Yanhong smiled and hung up the phone. This kind of invitation is invalid in ordinary social interaction. "Next time" means no. But at the level between him and Jing Gao, this was just a talking point. As long as he wanted to talk to Jing Gao about something, he could make an appointment at any time.
Baidu's voting rights on Uber's board of directors are "invalid", and Uber is the first company in Hong Kong to adopt AB shares. At that time, Jing Gao was torturing the secret directors of the Hong Kong Stock Exchange. Therefore, it has more than 50% of the voting rights.
Therefore, regardless of the rumors from the outside world at this time, he is of course willing to go with the flow and sell Jing Gao a small favor.
(End of chapter)
