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Can Jingdong'S High Bargaining Power Continue?

2014/2/10 8:21:00 19

Mobile Internet spring tide is no longer left behind during the Spring Festival. < a href= "//www.sjfzxm.com/news/index_s.asp" > the reshuffle of "/a >" is pushing Jingdong to seize the tide of listing.

However, after the shuffle, can the Jingdong's high bargaining power continue? This is a hot topic in the industry after the news of new year's Eve listing on Jingdong.

the list of topics that can not be avoided: /p >

On the eve of new year's Eve, B 2C electric giant Jingdong formally submitted a prospectus to be listed on the New York Stock Exchange or NASDAQ, with a financing amount of US $1 billion 500 million. P

More than a month ago, Liu Qiangdong also declared that "Jingdong did not plan to go public in 2014".

for why choose to submit the listing application at this time, the person in charge of the investment fund told the reporter that the investment time of Jingdong's early investors has exceeded 5 years.

At the same time, the reshuffle of electricity providers in the mobile Internet era is also pushing Jingdong to seize the tide of listing and win the capital and space needed for the future development.

in recent years, listing has been a hot topic for a href= "//www.sjfzxm.com" > Jingdong < /a >.

Last year, Liu Qiangdong, who just returned from the United States, publicly told the media that Jingdong did not plan to go public in 2014. He said he did not visit investors or companies in the United States this year, but simply went to school.

, however, in just two months later, Jingdong submitted the listing application in a whirlwind manner.

SEC file disclosure information shows that Jingdong submitted a prospectus in January 30th.

The prospectus said that Jingdong plans to list in the US and choose between the NASDAQ and the NYSE, with a planned financing of 1 billion 500 million US dollars, as an underwriter by the Bank of America, Merrill Lynch and UBS. However, the specific stock code, time to market and price range have not been determined.

since the end of October last year, the 58 cities, where to go, the 500 lottery network, the 3G portal network and the automobile home have landed in the US capital market, and the share price has risen sharply, setting off a small climax of IPO.

"In addition to the demand for self financing and equity incentive, V C/PE investors are also important forces to promote the listing of shares in the US.

The upsurge in the US market since the end of October has brought huge rewards to the investment institutions behind it, especially the foreign bodies such as Sai Fu, D CM, Hua Ping, G G V, ID G and so on.

By the end of 2013, a large number of Chinese enterprises will be listed in the US. No matter in the market reaction or in public opinion, they will bring more convenience to the latecomers and attract more enterprises to try to go to the US IPO.

public information shows that before the IPO, the Jingdong has been carrying out a total of four rounds of financing of about 2 billion 300 million US dollars.

The first time in August 2007, it received $10 million in capital today. The last financing was in early 2013, with a scale of nearly $700 million, but the valuation scale dropped from $10 billion before to $7 billion 250 million.

the person in charge of the investment fund told reporters that the investment time of Jingdong's early investors has exceeded 5 years. It has entered the cash flow period with the usual investment cycle of venture capital.

"And investors have limited capital allocation. Jingdong and Alibaba are always competing in the market.

Whoever wins the initiative will gain greater initiative. "

strong > high interest income is questioned.

like the many listed stocks that have been listed before, Jingdong also submitted the prospectus after the profit has just been achieved.

prospectus shows that the net revenues of Jingdong in 2011 and 2012 were RMB 21 billion 130 million yuan and 41 billion 380 million yuan respectively, with net losses of 1 billion 284 million yuan and 1 billion 729 million yuan respectively.

In the first three quarters of 2013, the net revenue of Jingdong was 49 billion 216 million yuan, up 70% from 28 billion 807 million yuan in the same period of last year, achieving a profit of 63 million yuan and a loss of 1 billion 424 million yuan in the same period in 2012.

however, another notable statistic is that in the first three quarters of 2013, Jingdong's operating loss was 316 million yuan, the net income of interest was 215 million yuan in the same period, and the income from other aspects such as financial subsidies was 164 million yuan.

the head of a local electricity supplier told reporters that the increase of market share made Jingdong's bargaining power more and more high, thus pushing Jingdong's accounts payable turnover days longer and longer.

"From 2011 to 2013, the supplier's account period increased from 30 days to 40 days. The extension of the account period can provide Jingdong with the ideal deposit fund and storage interest."

Nandu reporters have found that this is verified in the prospectus.

Prospectus shows that in 2011, Jingdong accounts receivable turnover days were 35.3 days, 42.1 days in 2012, and 43.1 days in the first three quarters of 2013.

Meanwhile, the accounts payable of Jingdong exceeded 10 billion yuan by September 2013.

these people predict that the coming of the mobile era will bring a new round of shuffling to the electricity supplier industry.

"Competition intensifies, Jingdong's high bargaining power will be challenged. In addition, the Internet will enhance the efficiency of the supply chain and shorten the account period." these factors will test the profitability of Jingdong after listing. "

[key] /p >

Jingdong supplier account extended to 40 days

the head of a local electricity supplier told Nandu reporters that the increase of market share made Jingdong's bargaining power more and more high, thus pushing Jingdong's accounts payable turnover days to grow.

"From 2011 to 2013, the supplier's account has been extended from 30 days to 40 days. The extension of the account period can provide Jingdong with the ideal deposit fund and storage interest."

> the reporter looked up the < a href= "//www.sjfzxm.com/news/index_cj.asp" > < < /a > > found that this point was verified in the prospectus.

Prospectus shows that in 2011, Jingdong accounts receivable turnover days were 35.3 days, 42.1 days in 2012, and 43.1 days in the first three quarters of 2013.

Meanwhile, the accounts payable of Jingdong exceeded 10 billion yuan by September 2013.