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Text Chapter 2875 The Development of Xiaomiao Electronics

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    Since May 2009, the price of Dreamsno2 in the mainland market was raised to 2199 for 16GB and 2599 for 32GB. Fairy Company has been criticized by many people.  They felt that Xiao Qi had already made enough money, but he actually had to raise the price, which would reduce the discounts for the Chinese people. It was really unkind.  Fairy Company had no special explanation for this. It was not until the six major electronics manufacturers in China and Xiaomi Electronics launched domestic mobile phones that everyone suddenly realized that Xiao Qi was making way for them.  Think about it, what would it look like if the prices of domestic mobile phones from China and Fairy Company¡¯s Dreamsno2 collided?  I dare not say that even one of them can¡¯t be sold, but it¡¯s definitely not as popular as it is now, and it still has good sales in Southeast Asia.  Although it seems that they will not reach the sales volume of 50 million units in the first year, the sales volume in the first half year is almost more than 13 million units, which can be regarded as fulfilling their expectations.  For this reason, Fairy Company has also specifically lowered the patent contracts with its six major mobile phone manufacturers. It does not charge patent fees based on a total of 300 million units, but it has saved them a lot of expenses.  The remaining one, Xiaomiao Electronics, has a much easier life than these six big companies, because they are themselves a subsidiary of Fairy Company. Although Yu Lihong doesn't think so, his employees all work for Xiao Qi.  Being proud of controlling Xiaomiao Electronics made Yu Lihong feel a little uncomfortable.  Yes, now that Xiaomiao Electronics is developing so well, the technology, raw materials, parts and even sales network provided by Fairy Girl Company are very important. But without Yu Lihong¡¯s sudden call for technical personnel to develop and take care of the company¡¯s affairs, Xiaomiao Electronics would  Can the company develop to where it is today?  You know, in the past five months or so, Xiaomiao Electronics' sales have exceeded 18 million units, ranking second in mainland China, better than Huawei and Lenovo!  And Xiaomiao Electronics¡¯ reputation is also very high.  Because of its strong technical strength, the selected parts suppliers are also very powerful.  Thanks to Fairy Company's quality control system, the repair rate of Xiaomiao Electronics is less than 1%, which is much higher than the 3% of others.  With such encouragement, Xiaomiao Electronics has actively started to develop Xiaomiao Mobile Phone 2.  It is expected that it will be available again in February next year at the latest and the upgrade will be completed.  Of course they also have many shortcomings.  For example, Fairy Company, currently ranked first, has controlled the repair rate to 0.002%, followed by Apple, which has a repair rate of only 0.007%, and Samsung, which is 0.01%.  The quality of these large companies is indeed very good and their praise is also high. If Xiaomiao Electronics wants to learn from them, it must once again strengthen its product quality control.  In fact, Yu Lihong knows where the current weakness of Xiaomiao Electronics is, that is, in order to control costs, the parts they choose are relatively cheap, including LCD screens, CPUs, etc., which are simply not as good as Dreamsno2.  But the price of Dreamsno2 is not much more expensive than Xiaomiao mobile phone, but why is the profit margin so high?  It¡¯s very simple.  Because they adopt a large-volume purchasing method, suppliers are willing to make small profits but quick turnover, and more importantly, many of the technology patents are owned by Fairy Company. After excluding this part of the cost, the cost can be reduced by more than 30% in one go.  This is something Xiaomiao Electronics cannot do.  Although Xiaomiao Electronics is a 60% subsidiary of Xiao Qi Holdings, Yu Lihong has to go it alone, so Fairy Company is only responsible for financial auditing and other aspects. Xiaomiao Electronics is still responsible for its own profits and losses in operations, including the purchase of parts.  This is also true for the payment of various patent fees.  They spend more than Fairy Company, not only on hardware costs for patent licensing, but also on patent fees for various software technologies.  This part is more than 20% higher than that of Fairy Company. Adding the two items together, you will know why dreamsno2 has a high profit margin, while Xiaomiao Electronics only has a gross profit margin of about 15%.  Of course, although the gross profit margin is now very low, this is only the beginning.  As parts prices fall and production and sales increase in the future, gross profit margins will naturally continue to grow.  Even so, the gross profit margin of Xiaomiao Company has reached 120 million yuan in the past five months, and the net profit is about 70 million yuan.  Since there was no need to repay the loan, Yu Lihong applied with Xiao Qi, and all the 70 million was awarded to the company's employees. He also received 3 million, which was considered an average level.  " Xiao Qi doesn't care that Yu Lihongfa's bonus is all the profits so far. Xiaomiao Electronics has a promising future. It has achieved preliminary results at this stage. It should be rewarded and encouraged.  ¡°Besides, the funds he invested were only a very small part, and it was not yet his turn to make money from Xiaomiao Electronics.  In Xiao Qi¡¯s view, the most important thing for Xiaomiao Electronics now isIt starts to develop, and only those who are motivated can develop better after being encouraged.  What makes Yu Lihong depressed is that when he went to the toilet, he heard everyone talking, and it was Xiao Qi who was thanked by everyone. He thought that this reward was given by Xiao Qi, who had always been generous. It was really depressing that there was no benefit for doing good deeds.  However, Yu Lihong doesn¡¯t have that much time to be depressed. He has more important things to do now.  Yu Lihong's idols are Xiao Qi and Gang Leader Qiao, but in terms of actual actions, Yu Lihong's idol is more biased towards Gang Leader Qiao, because he is an outgoing person and likes to express his ideas, unlike Xiao Qi.  Like Qi, he always stays behind the scenes and is not willing to deal with the outside media at all.  So Yu Lihong specially allocated a part of Xiaomiao Electronics' funds to do marketing for himself, hoping to build himself into the pioneer of the new generation of Internet smartphones.  In the past six months, Yu Lihong has appeared everywhere in publicity on the Internet and in newspapers and magazines. He has become the leader of the new generation of intelligent electronics. Those who don't know think he is better than Xiao Qi.  Under the cover of a public relations company, Yu Lihong gave speeches everywhere, promoting Xiaomiao Electronics as a brand specifically for the Internet. It is said to be the most closely connected with the Internet and is a brand specially created for young people.  Use the least profit to serve everyone.  "Don't mention it, Xiaomiao Electronics' Xiaomiao mobile phone is at least very beautiful in appearance. Yu Lihong also learned from Xiao Qi and Qiao Gangzhu.  Coupled with the right price and the publicity of the Internet brand, many young people are willing to try this phone to see how it is.  So Xiaomiao mobile phone is a smartphone supported by Fairy Lab technology.  Compared with the mobile phones of the other six mobile phone manufacturers, they are indeed very good in terms of running speed, mobile phone battery life, etc. In addition, Yu Lihong used his enchanting speech to make everyone admire him and Xiaomiao Mobile Phones.  , and naturally gained everyone¡¯s love.  Compared with the previous Xiaomi mobile phone, the backer behind Xiaomiao mobile phone is more powerful.  It¡¯s definitely not what Rebus could compare to when he started his business.  Coupled with the constant support of Fairy Company, Xiaomiao Mobile Phone was on the right path from the beginning, and its development was naturally much faster than that of Xiaomi Company.  Xiao Qi spent 300 million yuan to obtain 60% of Xiaomiao Electronics¡¯ shares.  But it doesn't mean that he only paid so much. The technical support of Fairy Company is very important. In terms of parts, the parts suppliers chosen by Xiaomiao Mobile not only provide the best supply and the most favorable price,  The payment can be settled in 3 months; as for the foundry, Yinhuang Electronics and Mingxing Electronics are the choices.  The workmanship is excellent and the cost is cheap these are all for Xiao Qi's sake.  Otherwise, if someone from another company comes here, do you think the price will increase by more than 20%?  Therefore, the development of Xiaomiao Electronics is inseparable from Xiao Qi¡¯s support.  Even the increase in its valuation is due to the addition of "Xiao Qi Investment".  Bank of America Merrill Lynch, which has now regained some of its strength, has proposed a valuation of 5 billion yuan for Xiaomiao Electronics. If it continues to develop at the current rate, within three years, the valuation will definitely exceed 50 billion yuan.  !  Bank of America Merrill Lynch also began to actively contact Xiaomiao Electronics.  I hope it can be listed in the United States, or at least in Hong Kong.  But Yu Lihong refused without hesitation.  When he told his friends in private, he felt that Bank of America Merrill Lynch¡¯s valuation of Xiaomiao Electronics was too low, and the IPO valuation was calculated based on 10-15 times annual turnover.  Now Xiaomiao Electronics is at least about 20 billion yuan!  Yu Lihong also said that unless Xiaomiao Electronics achieves a valuation of more than 30 billion US dollars, he will not consider any listing plan.  ¡°Well, although Yu Lihong only holds 28% of the shares, less than half of Xiao Qi¡¯s, Xiao Qi doesn¡¯t care about Xiaomiao Electronics at all.  Therefore, he and the management have the final say on everything.  At first, Yu Lihong was a little worried that Xiao Qi would take the opportunity to control his company, but for more than a year, he was the only one who asked Xiao Qi for help, and never had Xiao Qi order him or anything. This made Yu Lihong believe that Xiao Qi  Qi indeed has no intention of annexing Xiaomiao Electronics.  Of course, if you think about it, it's a bit sad. Compared with the companies that Fairy Company absorbed, Xiaomiao Electronics is simply far behind.  Yu Lihong has no extravagant hope of being on an equal footing with Xiao Qi through Xiaomiao Electronics. Xiao Qi¡¯s assets are more than 700 billion US dollars. Even if he makes Xiaomiao Electronics better, it will take at least ten or twenty people to compare with Xiao Qi.  property.  What's more, Xiao Qi's real property is much more than that. Yu Lihong knows that the land owned by Xiaoyao Logistics alone is worth at least 300 billion US dollars.?Booth and Fu Run, the two shameless people who collect money, are simply arranging property irresponsibly!  Therefore, Yu Lihong¡¯s goal is to become the most powerful professional manager like Gang Leader Qiao. This is already the best honor!  Now, if we do the math, Xiaomiao Electronics¡¯ revenue this year should be more than 1.7 billion yuan.  After stabilizing the consumer market, Xiaomiao Electronics not only needs to develop its efforts in mainland China, but also needs to continue its promotion in Southeast Asia and Indochina.  ¡°We would rather use the money earned from the mainland market to subsidize the markets of these countries than to promote the reputation of Xiaomiao mobile phones.  It would be great if Xiaoyao Mall could open all over Asia! ? Then all the marketing efforts can be saved!  Yu Lihong sighed again.  Although this relies on Fairy Company, who said Xiaoyao Mall's channels are so good?  In the Indian market, Xiaomiao mobile phones are extremely popular, contributing almost one-third of their monthly sales of more than 3 million!  Thinking that Xiao Qi has such a trump card channel, Yu Lihong sighed again, why can't he be so good?  (To be continued.) 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