If it weren't for the Nasdaq bubble, Sohu and NetEase would both want to be listed on the Hong Kong stock market.
Due to the bursting of the Nasdaq bubble, investors in U.S. stocks still have lingering fears about Internet companies, and they cannot enjoy a better valuation by listing on Nasdaq.
After repeatedly communicating with underwriters and realizing that going to Nasdaq was an option with half the effort, Sohu and NetEase were listed on the Hong Kong stock market.
Xiangjiang is closer to China, and investors in Xiangjiang also have a better understanding of China's Internet companies. As the capital market picks up, they are still willing to invest in the stocks of some Internet companies. Judging from the experience of Americen Internet Company, Sohu and NetEase are both first-class companies.
As the venture capital institution behind Sohu and NetEase, Xinxing Investment participated in the listing of these two Internet companies on the Hong Kong stock market, and Wu Shiqiang participated in the listing bell as a representative. Sohu and NetEase naturally hope that Zhou Xin will come to the Hong Kong Stock Exchange to participate in their bell-ringing ceremony. They joked privately that if Zhou Xin attended the bell-ringing ceremony for the listing, the stock price would rise by at least 20%.
At the same time, Sohu and NetEase were lucky enough to complete the listing in mid-2001. If it had been later, after September, the entire secondary market would have collapsed due to the Amerikan incident. Sina was just a little behind them and planned to go public in October. As a result, the entire capital market collapsed and Sina's listing plan could only be postponed.
As for Alibaba and Tencent, these two companies have high expectations. Tencent achieved breakeven early and is not in a hurry to go public. Alibaba is also not in a hurry. Their business model does not lack investment.
After Jack Ma talked with Zhou Xin, Zhou Xin asked Jack Ma to contact Pony directly to look for opportunities to enter Amerikan. Jackma did successfully find the opportunity to help some small and medium-sized supermarket chains build online malls for Amerikan. China will officially join the WTO on December 11, and Alibaba has already partnered with two supermarket chains to put products from China on their shelves.
Jack Ma’s sense of smell is sharp enough. Even if Taobao does not engage in C2C business, Alibaba’s focus on foreign trade and financial business is enough to become a giant.
For a long time after the Nasdaq bubble burst, there was almost only one player in China's venture capital market, emerging investment. Wu Shiqiang has also changed from the previous image of investors who only listened but did not invest to becoming the only financial backer father, vaguely feeling like the godfather of China's Internet industry.
Wu Shiqiang enjoys this feeling. It is much more enjoyable than working as a lobby manager at the Los Angeles branch. Therefore, Wu Shiqiang knows very well who he wants to serve and who he wants to please.
Every time Zhou Xin came back, Wu Shiqiang would personally provide services. After Zhou Xin and Director Zeng finished chatting, Wu Shiqiang had been waiting at the door for a long time.
The driver and Wu Shiqiang sat in the front seat of the Mercedes-Benz, leaving the entire back seat space to Zhou Xin.
"Okay, I roughly understand, Shiqiang, you did a good job. We actually have our own methodology for investing in Internet companies. The follow-up will be to continuously optimize this methodology based on the actual situation."
“In addition, you don’t need to be too obsessed with investing in UnionPay. An enterprise of UnionPay’s nature determines that it cannot accept external investment. In addition, it is not a good thing to stick to an enterprise that supervises the capital transactions of state-owned enterprises.
Just walk around more when you are in Yanjing and help me find out when China will open up electronic payment and when it will allow private enterprises to apply for electronic payment licenses. "
Wu Shiqiang observed through the front seat mirror that Zhou Xin did not close his eyes to rest after getting in the car, so he took advantage of every opportunity to report on the work.
There are not many opportunities to report work to leaders face to face. Zhou Xin didn’t say much after listening to it because he knew every investment made by Xinxing Investment and the early-stage companies he invested in were all well-known companies, and he was not worried about losing money on the investment. .
After Zhou Xin finished chatting in Yanjing, he flew directly to Shenhai that day. He wanted to take a look at the current situation of Xinxin Technology in Shenhai, and then chat with Hu Zhengming and Guan Jianying face to face.
Zhou Xin agrees with Hu Zhengming's strategic concept of targeting China's local market and producing chips that satisfy Chinese consumers.
Because after joining the WTO, the purchasing power of Chinese consumers will gradually increase. In the ten years from 2001 to 2010, China was a huge market for both computers and mobile phones.
The most important reason why Neon's NEC entered China and was willing to cooperate with Chinese companies to establish chip manufacturers is because they have taken a fancy to China's consumer market of 1.3 billion people.
"Newman, I heard that now your professor has been replaced by Oldham. Oldham will not be poached by you." Hu Zhengming joked.
Zhou Xin said: "I didn't plan to poach him originally. Oldham should retire after taking care of me. I'd better let him enjoy his retirement life. Xinxin Technology's intensity is too high."
Hu Zhengming asked: "You know the intensity is high and you dug me into this fire pit."
Zhou Xin said: "No, no, no, professor, you are much younger. You are in the prime of life. At this age, it is the time to work hard."
After some pleasantries, Zhou Xin got to the point: "Professor, I think your idea is right, but we should not wait for Intel. Cooperation with Intel is something beyond our control.
Is Intel willing to cooperate with us, is it willing to invest in Xinxin-Huahong Integrated Circuit Manufacturing Company, and is it willing to design a CPU for the Chinese market?
These are all unknowns, and we cannot base Xinxin’s strategic vision on unknowns. Even if you have a good relationship with Intel, that's not how we build our future strategy.
This can be one of the things we do, but it can't be the only one.
I have another idea, that is mobile phone chips.
Can we design a mobile phone chip that integrates various types of audio, video decoding, signal processing, etc.?
That is to say, when mobile phone manufacturers use our mobile phone chips, they only need to design the casing, camera, screen and keyboard.
We will help them integrate all the chips, and we can also provide systems and development platforms.
The most important thing about such a chip is the cost, which needs to be controlled at an extremely low level. "
What Zhou Xin said is what MediaTek will do in the future. In 2004, MediaTek launched a solution that was hailed as a "turnkey" solution by industry insiders.
Originally, in the era of feature phones, making mobile phones was a technical job. More than a dozen chips and components such as mobile phone processors, communication basebands, multimedia decoding chips, and memories will most likely come from different suppliers.
These different suppliers have different development tool standards, and mobile phone manufacturers need to conduct a lot of engineering testing and debugging.
In addition, although they are functional phones, mobile phones in the first decade of the 21st century have functions such as taking pictures, music, calculators, and alarm clocks.
The system, software, and UI often need to be handled by mobile phone manufacturers themselves.
The two hurdles of hardware and software have raised the barriers to entry in the mobile phone industry.
Until MediaTek's mobile phone chips changed this status quo, the integrated chips allowed one company to manufacture mobile phones, and for a while the mobile phone industry was in chaos.
The large number of mobile phone advertisements in China's TV shopping advertisements after 2004 also benefited from MediaTek's solutions.
The integrated mobile phone chip designed by MediaTek has completely changed the Chinese mobile phone industry in a very short period of time.
For a time, everyone who wanted to make money from mobile phones rose up and turned into a Huaqiangbei technology giant. Watch phones, four-SIM, four-standby, and high-end business phones are all things you can’t imagine, and there is no copycat phone that can’t do it.
By 2006, MediaTek's total mobile phone chip shipments exceeded 100 million, capturing 40% of China's mobile phone chip market, ranking first, and earning the honorific title of the father of copycat phones.
From 0 to 40%, it only took MediaTek two years to rely on this solution to become the industry leader in the domestic market.
Until the era of smartphones, even though they had trouble with one core and the industry myth of nine-core viewing, which made Meizu miserable, MediaTek was still an important player in the field of mobile phone chips.
What Zhou Xin proposed was to give him MediaTek's path ahead of time. This is what he thought was a mobile phone that could be consumed in the Chinese market.
Moreover, this kind of copycat phone can be exported to underdeveloped and developing countries in large quantities by relying on the low-price strategy.
After Zhou Xin finished speaking, Guan Jianying knew MediaTek very well, and he immediately thought of another chip. He said: "I think there is no problem with this idea.
Whether it is VCD or DVD, previous chips required a combination of chips, and the cost remained high.
After MediaTek entered this market, it launched an integrated optical drive chip that integrated the player system onto a single chip, lowering the price of DVDs from 2,000 yuan to several hundred yuan.
MediaTek relied on this strategy to quickly seize the market. I don't think there's anything wrong with Newman's idea.
And integrating chips is not that difficult. We can do it in one year at most. We can do it in one year.
It doesn’t even take a year if you have experience designing A1 series chips. "
To put it bluntly, we need to adopt a low-price strategy. China's production lines cannot produce high-end chips, so we can only adopt a low-end strategy. We must first run the chip production line, cultivate talents, and optimize the manufacturing process.
Hu Zhengming said: "I think it is possible, but after walking around China before, I feel that mobile phones are still high-end goods. Ordinary consumers in China may not be as accepting of mobile phones as computers."
Zhou Xin said: “That’s because mobile phones often cost four to five thousand, and even domestically produced mobile phones cost more than two thousand. This price is indeed a bit high.
If the price of mobile phones can reach below 1,000 yuan, then Chinese consumers' demand for mobile phones will suddenly explode.
And my proposal to make integrated mobile phone chips does not mean that we will no longer make computer chips. Computer chips are still discussed with Intel, but I just want to say that we cannot place all our hopes on this one thing. "
Yesterday's was blocked and released this morning
I updated 5k last night, and this chapter is 3k, which makes up for the day I took off!
(End of chapter)
