Zhang Jindong battle49-year-old Forbes Rich List evergreens, founder Zhang Jindong, Suning now the situation is from excitement to normal after the change, the fate of a group of former star entrepreneurs portrayal of China's economy has experienced: straight up and operational Zhongxingpengyue social status on screeching halt, replaced by a poor performance, the aura faded, even push everyone down the wall. In the past 22 years most of the time, Suning retail business and Nike SB the booming real estate business, as the rapid development of China, developed from a street shop is China's largest air-conditioning 3C products retailer. But into 2012, well retired, his name listed companies, Suning Appliance in the first three quarters of 2012, net profit fell 31.28 percent rare year is expected to decrease 30% - 40% market capitalization In the past more than a year of time has shrunk by nearly half, resulting in net worth has shrunk more than 2 billion US dollars. This of course there are factors slowing growth in China and real estate business downturn. In the past, Suning just constantly adding new stores to meet the burgeoning needs of users, and now, Zhang Jindong consider how timely is more profitable to turn off those who do not shop, so as not to drag on the overall performance. Only in the third quarter of 2012, Suning to turn off the 59 stores, while over the same period was only 37 new stores, closed the first half of the more than 100, and each turn off a shop, Suning have lost hundreds million. If the problem is just that simple, because Zhang Jindong believe China's economic growth will continue, China's urbanization will have a long period of growth, and the Chinese people generally, as the real estate is the safest investment. Greatest enemy - the rise of online retail. 'The growth in any economy, there will be ups and downs, but we are now experiencing is a valley, long survive this array, the new growth cycle will come,' he said. But the reality is not simple. Zhang Jindong, has realized that his greatest enemy is not the economic downturn, but the rise of online retail. Two years ago almost negligible upstart online shopping Jingdong Mall, in the last year, let Suning of headaches. Since Jingdong mainly rely on external capital to support operations, it will want to do first large-scale price war, and to achieve profitability, and its main business and there is a big overlap with Suning Appliance, then, Suning will withstand a price war weight, not only the loss of part of the user, but also suffered a loss of gross margin decline and market capitalization. 'A few years ago, our concern is how to transcend physical counterparts, and now people focus has shifted to Taobao and other new rivals online for the development of e-commerce, investors have concerns, and we fell, largely online counterparts dragged down performance. But we can not stay in the past, we will fight in the end! 'What storms have seen Zhang Jindong, described the mood changes and the moment he experienced in just one year. Prior to this, he and China's Internet entrepreneurs rarely stars friendship, he has access to all areas of electronics giant Gangster or investment industry, such as Samsung Electronics CEO Lee Jae-yong, Microsoft Nike Pepper Shoes founder Bill Gates and CEO Martin Palmer, investment Warren Buffett predators. And now he must fight with China's nouveaux riches. Caught off guard 'Su Jing war' Four months ago, investment in Hony 2012 annual meeting - Hony Suning Appliance institutional investors, concerned Suning Tesco Jingdong Mall price war has become one hot topic, Zhang Jindong immediately and here's a few friends playing a bet: If this year (2012) the electricity supplier's business Suning Suning Tesco's growth rate does not exceed Jingdong Mall, he would give each of them to send a upcoming OLED TV. Let his surprise, a few days later, the playfully bet even speculation by the media and social networking is: If growth this year is slower than Suning Tesco Jingdong Mall, Zhang Jindong, the company is willing to give Qiang East. Then, Jingdong Mall Liu Qiang, founder of the East also had to respond tit for tat on their own micro-Bo: If Jingdong won, he would 'win' Suning shares of 100 million shares to the average person to forward the article microblogging . 'This is the characteristics of the industry, spreading it out of control, but bad things turn into something good, brand awareness and traffic Suning Tesco's but has been greatly improved, which is the network marketing, we must learn and adapt to it.' Zhang Jindong emotion Road. He now believes that he should be more close to the media, rather than in the past to be closed up (because he is also vice chairman of the CPPCC National Committee and the National Federation, the company's public relations department in the past too much to worry about his contacts with the media will be words misconduct). 'Unfortunately, to my identity, the same can not and Liu Qiang East has its own micro-Bo.' He said with some Air Jordan 9 Retro regret. But to learn the Internet this, not just more in the media, more make some sensational views that simple. In the past 20 years, he has used an upward trend in the era of the well-established pattern, namely 'Once we determined that agree with a target, every step of the highest goal to do, we made One thing, from the program to execute, at least three years. ' Annual goals are to honor? Like most traditional entrepreneurs, he always believed that the success of a business depends on the development and integration capabilities down to earth, he treated the opinions of e-commerce has not changed much. For example, he believes e-commerce is still a business, and this is Suning nearly 20 years of accumulated most valuable assets, such as more than 100 million users at least once had to buy from Suning, the industry one of the best supply chain management (Suning 2011 income over 90 billion yuan for the same period of three to four times Jingdong Mall), tens of thousands of people service team, hundreds of cities across the country logistics body, any one of these is like pure Jingdong Mall online shopping companies have spend huge amounts of money and a long time to solve. 'Now a lot of young people, a lot of new technology, very impulsive, such as Facebook, its users a large amount, but it can not allow these people to stay, and where to spend money, so it's shares fell badly.' However, The problem is how to accumulate past into new impetus to move forward rather than Ren Qicheng burden. Back in 1999, Zhang Jindong Sun Weimin, vice chairman and now a go Zhongguancun, is there to examine the burgeoning e-commerce, but until 10 years later, Suning really take action, thus giving rise to the time-space Jingdong Mall . In a company like Suning in up to ten years time has been so smooth, high-growth companies, the biggest challenge of change does not come from the outside, but inside. Zhang Jindong still clearly remember, in 2008 he attended the 'two sessions' in Beijing, in order to reach a consensus as soon as possible on online shopping in the company, he called all the executives, from the evening have been talking to five o'clock the next day. At the same time, he also had to do the work of suppliers, because they fear of online shopping would be damaging to their voice and interests, precisely because the supplier concerns, Suning has been unable to let go of problems resulting from the online and offline business each stroke problems, such as online and offline achieve the same below price, and such cut excess in store salesman. 'This incident (and Jingdong price war) accelerated our understanding of online and offline and change, a big step forward, that the power is too important, and we are now really confident in the past to allow different opinions to this day can not talk about, and anyone who does not agree you have to leave. 'But, before everything on track, Zhang Jindong, must prove himself again,' he says it will do. ' Although in the past the impression to investors Zhang Jindong, the 'walk the talk', but he reneged on the e-commerce business, the goal in 2011 Suning Tesco raised 80 billion yuan, and finally completed only 70 percent. It could eventually lead to the then head of Suning Tesco Ling Guosheng was removed. Some people have predicted, Suning Tesco in 2012 may still be able to fulfill the goal, early in its mandate to own 19 billion -200 billion, but when the end of the third quarter to 95 billion yuan. Of course, Zhang Jindong will not throw in the towel now, he still stubbornly believe that the company will be able to complete the task, and is expected to appear in a single day trading record of $ 500 million in the last month. 'Give me a little time, we need to run, we have to find the ability to play the way we still have to continue to learn, gain experience, exposure problems, can be targeted to solve, eventually found a new feeling.' For example, in August and Jingdong Mall price war in the day, Suning Tesco's website was paralyzed, which is not ability, as early as several years ago, Suning invested billions of investment information systems, but never encountered Suning site visits The sudden surge, after this incident, the company initially know how to deploy resources to the blade, in order to make the best user experience. 'I still believe slow is fast, as the competition in the past Suning same line, peer through the capital leverage robbed in front of us, but we are back from the start of large-scale investment, and now, I still think that to So far run very fast opponent sooner or later will encounter bottlenecks scale, such as scale reached 500 billion to $ 100 billion, their background might have problems. 'concentrating a superior force and now, it seems Suning Tesco development effort time. Zhang Jindong, the speed so far made the most radical action was recently acquired for $ 66 million, a veteran of the maternal and child products vertical electric provider red children. The site started from a mail order catalog, but as facing a transition and Suning pressure from online shopping, but unfortunately, due to internal disagreement, missed opportunities in transition, a disadvantage in competition with a comprehensive online shopping platform. However, Suning, the red child still valuable. 'In this area, we did them a professional, if we own from scratch, may be two to three years to achieve this level. The time now is important to us.' Zhang Jindong program in a category or search for more technical fields have skills The company acquired its Narusuning large platform, complementary advantages, these companies will maintain their own brand, as well as the corresponding marketing and customer marketing independence, but will no longer have their own independent website, but as Suning one channel available, and the opportunity to move to the Air Jordan 19 next line Suning channels. At the same time, in the traditional line of business, Suning is also a series of revolution, to accommodate the new features of Chinese consumers and industry competition. Different from the past twenty years, now choose and purchase decisions of consumers randomness are bigger than ever, and the boundaries of the industry and therefore become more blurred, in order to obtain in the case of a slowdown in overall growth above-average growth, it is necessary to re-supply and demand matching, open up more new business. For example, turn off the poor performance of those stores at the same time, Suning positive new type of large-scale self Expo super stores, where consumers can buy in addition to the traditional household appliances, 3C products, but also increase the department stores, daily, books, finance and virtual products, even including 20 kinds of smart home solutions. These stores also assume fusion pioneer of online and offline, such as the user can choose to search online and orders in the store from mentioning, enjoy a variety of services, may be reversed. 'We hope that these stores can act as the final word on the user.' Zhang Jindong define super store. Over the years, he has been regarded as the Wal-Mart on the target object Suning, and now he thought that this object should be adjusted to 'Wal-Mart + Amazon.' Coincidentally, recently there were rumors, Amazon founder Bezos is considering opening the store in order to better compete with Wal-Mart. Zhang Jindong believe that this nurtured many stars entrepreneurial market, will continue to feed them, but it will change the way. 'China's development is not five or ten years, there is quite a long time, Chinese consumption is one-quarter to one-fifth of the US population is five times the United States, but we must stand in a global perspective and to look at opportunities height. 'To this end, he never doubted the decision to buy Japanese Laox own - even if recent events in Japan's business because of the Diaoyu Islands by the impact - and he wants to help Suning Laox improvements in supply chain management, product buyout, underwriting and customized high Maori business capacity and full Suning animation, watches and music product categories. While he regarded as an international bridgehead Suning Hong Kong, 2012 revenue is expected to grow by 200% -300%. 'Effect caused by us in Hong Kong is very, very large, very successful future, we will enter it as a base to Southeast Asia, around 2016, will enter the European market, but we are not starting from scratch, but take mergers and acquisitions.' He excitedly He said. In addition, he Nike Air Force 1 is also not shy about talking about the real estate business. In the past, he is more willing to allow people to connect him with retail, but very little about this aspect of the topic. According to his plan, 'in the near future, real estate Suning will become a main industry.' Suning's real estate business is mainly concentrated in the Suning home, which the company has become the de facto invisible estate giant, has so far developed nearly ten million square meters of the project, covering shopping malls, flagship store, hotel, apartments, office buildings and so on. He believes that the real estate future is still a lot of room, but profits has passed, the growth rate will match the speed of economic development, but for those solid and steady companies, is still a good business. Moreover, the retail business of the future Suning need more self-built properties - according to plan, 2020 will be built 300 self-built stores. He also has a past rarely brought by new ambitions: Suning to sell every electronic device in the home Ru Suning own content. 'In the past there is no opportunity to direct consumer contact, now have after you can put our service to them.' Column is now on the agenda is the application store Suning client (a collection of applications, games, music, videos and other content software), Suning Tesco clients will be the first occupiers. His plan is: Suning have sold a large number of computers, televisions and mobile terminals each year, the final users of these products is to have colored the content, why not by the placement Suning underwriting customized content in its products, such as Samsung, Pioneer customized underwriting phone. However, he may have to convince those vendors allow Suning to do so. He Lei Jun millet technology is very appreciated. When 'Millet is very successful, through the channel of the implant into service Suning already think we millet more than content.' Recently, however, reportedly tried to put into the content of millet in new products, the regulated party with no license ? Zhang Jindong halt opportunity, but perhaps it has a wide range of government-business relations in accordance with his long-term plan, Suning's history is no longer a burden, but a treasure: each functional module can be developed into a separate business, such as for Supplier of B2B, technology, logistics and after-sales service, cloud storage. Suning is planning to build 8-12 in the national data centers in the world, built in three research and development centers. 'In the past the computer constantly upgrading, but the future is actually 3G to 4G is enough hard disk space, do not always change, we have a lot of backstage space and content, some of which are free.' This is indeed a very ambitious project. If you can do so even if it is part of the online business Suning may have been behind other major rival Taobao situation, inventive, as he described, 'they began to build from the platform, and products we intervene, the same thing.' But the premise is not too fast competitors. Real opponent only two: Taobao system, Tencent in the field of Internet users in general might remember about three sites, while others will be mercilessly ignored them. However, Liu Qiang Jingdong Mall East, and his short list has not yet entered Zhang Jindong. 'They're still a child, and we are not a heavyweight.' In his eyes, only two real opponents, but three years ago have been identified: Taobao system, Tencent. 'Taobao is a marketing success, is the pioneer of the Internet platform, we Nike Shoes are learning objects, but it also makes use of Chinese laws and regulations are not standardized, advantage of the loophole, eBay in China will not work, you can not complain, it has its own value, there it exists. Tencent has a huge user base, but turning them into purchasing user is not easy, not the stuff the line moved online, the acquisition of several sites that simple. 'he said of his opponents . Compared Taobao and Tencent, he believes the advantage of Suning background system. But he also has to play down competition of gunpowder: the competition is not life and death, not to destroy the opponent, but to create their own unique ecosystem. In particular, and Taobao all open platforms, open platform Suning will only assist in high major appliances, 3C and books, etc. centralization for independent business product areas, Suning will make their own decisions, and in maternal, clothing and other goods more long tail and professional requirements of a higher category, will co-operate with the vertical sites. 'Maybe Ma will cooperate with us.' Suddenly he quipped. But it also will be a competition of resources. Although he does not Jingdong as a rival, but it is undeniable that, because of the financial markets from the capital to more than a billion dollars, Liu Qiang East dare to challenge him, but recently, Jingdong and melt into a sum of $ 400 million funds. Rumor had before, trying to suppress Liu Qiang East Suning shares, reducing its ability to finance from the stock market, because the industry's consistent logic, who can stick to the end, adhere to the user to make a final judgment, whoever will a winner. However, Zhang Jindong, fight a protracted war of strength may be underestimated. In July, he had just spent 3.5 billion yuan to subscribe for a private placement Suning Appliance - Despite the approval of the lag in the implementation of this additional Suning stock has shrunk by nearly half compared to the additional price, but he is still committed to subscribe for its own ratio. One part for the construction of Suning Tesco headquarters, is expected to house 20,000 people when completed in 2014. Right-hand man and Bo, the difficulty is determined so far, his most worrying areas, employment is outdated and incentives, as well as online and offline each stroke caused by vested interests. He did not intend to create a Suning Tesco employee incentive system, even children so newly acquired red team is no exception, and excellent staff are often online shopping industry are expecting higher levels of remuneration and more attractive incentives . He preferred the so-called cause-oriented managers to pursue long-term, rather than speculators. He also rarely used airborne troops, Suning Tesco 70% of staff are from Suning retail system, his argument is that Nike Air Yeezy online shopping is retail, no one Bi Suning employees more knowledgeable in this area. But concerns were of the view that both the style to break Suning, fast-paced electricity supplier industry, about the Internet, must large scale introduction of external blood. As for the left and right each stroke, he thought with determination, not a problem. Now, determined to have been. Promotion battle November 11 in Su Ning is considered online and offline businesses first 'linkage exercise' a large number of employees were sent to participate in the line of Suning Tesco delivery orders, but it is similar to the distribution of electricity supplier promotion season short board. And before that, Beijing has begun to implement the online and offline hereinafter the same price. He put rhetoric: 2013 will be the beginning of rapid Suning, Suning whole will gain rapid growth, even after sales reached 2,000 billion yuan, the growth rate will remain at a high level over; many electricity providers short board in the background will gradually exposed, and annual revenues of Suning Tesco will soon exceed $ 100 billion. 'The future is bright, but the market will not wait for you all day, only to seize new trends themselves bigger, have a chance. Otherwise, it may be the last people to buy you off.' (Via Forbes Chinese Network)