You Invest In Three Directions: Sports, Internet And Technology.

In sports industry, direction and business mode are very important. Capital is just catalyst.

July 30th, at the summer forum of the 2016 annual meeting of NetEase economists,

Group CEO Xu Zhihua, Winter Olympic gold medal winner Wang Meng,

Andy Chen, President of investment company, Yang Bing, co-founder and President of tiger sports, and Liu Fan, capital co founder of dune capital, are driven by capital.

The topic of change has been discussed.

The following is a record of dialogue:

Yang Bing: in addition to attracting the attention of many users at the user level, the Olympic Games are also the same at the capital level. Whether sponsors or investors who are concerned about this field, they will be more social events because of their sports attributes, which will increase the understanding of sports industry. This understanding is the best opportunity for sports industry to pay attention to.

Liu Fan: I am concerned about a sports industry dominated by the early stage. Now the sports industry is basically just starting in China. Actually many entrepreneurs have some opportunities.

Many entrepreneurs can hardly get the direct relationship between the Olympic Games and marketing directly in the mainstream media and marketing channels.

But it does not matter, because China's sports development is in the information age, rather than the European and American countries, also belongs to the development of the industrial age, in fact, it gives more entrepreneurs more opportunities.

Including the current traffic and attention, is not completely monopolized, there are many new media, including some direct broadcast channels generated.

For us, more attention is paid to the project we have invested in. We must seize this opportunity. After all, four years of strong wind has come, you need to turn the attention to sports and its influence into the productivity of its own enterprise.

In this process, you can see what kind of enterprises can better grasp, of course, I hope that the enterprises they are invested in have good ideas and good ways to show their relationship with the Olympic Games.

In addition, it is also helpful for us to explore some new teams in this process.

Wang Meng: because I just got involved in the sports industry. I have some ideas about directionality. My ideas are not quite the same as what we usually see, or what we see.

Because we hope we can get involved in the blank of winter sports. Winter sports in our revolution, as we all know, few people pay attention to this. As you have just said, many brands, international brands enter the Chinese market, the real thing is to let the whole world know.

Chinese brands have some knowledge in China, but they do not necessarily reach the world.

The same is true in winter projects, most of which are foreign brands and do not have a Chinese brand.

How does the event hold? Many people think that how you hold the event, for us, just like we have some internationally famous athletes, many of them are unable to participate in the competition now, but retired players who have won the championship have many groups, many people who like him, they also want to see them again, they can make their own competitions, and they can set their own rules and make their own use of these media, including our use of intermediaries.

We see some successful foreign professional league matches. In China, we watch Olympic Games, many games, some professional competitions, like I am a professional athlete. We hope to make it into a professional thing. What can we do? It may need to be done through sports industry. I hope to do it from winter.

Of course, if these ideas can be implemented, can they be realized? Of course, capital is needed.

Who will give it to you? Do people who start early business and have no experience can do well on their own ideas? We don't have much data. Why? We definitely need it, and we need a lot of people to come to us. Why didn't we take this step? Because it's too impatient for us.

Capital, or ourselves, we all hope to find the most tacit partners.

Andy Chen: we always agree with our origins. Our foundation comes from the accumulation of shoes and clothing manufacturing in the past twenty or more years.

From another point of view, we can see why the "bird of fortune" will change from manufacturing to the layout and operation of the whole industry, from the industry to the strategic change of the industry, or upgrading. In fact, it has never left the sports industry circle for the past decade or so, although we are doing the most basic manufacturing part of the industry.

As for this change, in fact, I really like the theme of today, because capital drives change. Indeed, because we are listed in the capital market, we have entered the capital market, because after being listed on the first listed sporting goods company of A shares, of course, we get the support of capital, so we can have the opportunity to drive our pformation in the future development strategy of the company. I think this is the first relationship between capital and change, and this strategic change can be formed through listing.

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The second is when we carry out the whole layout and operation of sports industry, the birds in this field pay great attention to the two things of capital and pformation.

What is the logic of the whole sports industry? What do you mean by "birds of a bird"? We summed up a very clear sentence to fully satisfy everyone's sports needs, so our core is the sports crowd. All we have to do is to meet the needs of these sports crowd in the future.

These consumption, from the past, we think narrow sense of sporting goods, equipment, to the future services, and even the future sports entertainment, this is what we can provide.

In this part, we have made full use of capital and pformation to make such a layout. For example, at the beginning of last year, we set up the largest sports industry fund at that time. 2 billion, today, of course, there are many large scale funds. From the past year's performance, perhaps its report card is more satisfactory.

We have put in about 30 projects covering different fields of sports entrepreneurship, including fitness, including running, including football, including basketball, including outdoor, a bunch of intelligent hardware and software value-added services, venue booking and so on.

All of these, in the layout of the birds, we have firmly locked the sports industry fund in the direction of sports, Internet and technology. What we are looking for are those that have future development prospects and hatchable targets.

From this perspective, we use funds to invest, we need to hatch, the listed companies themselves, we will look for some mature business models have already formed, there is a certain scale and income of the target to cooperate.

What we did earlier was to find a good company like tiger Hu. What you said is relevance. In fact, we are the largest shareholder of tiger pads. After we had a cooperative relationship with tiger flop, we set up an industrial fund. The only bird in the world is LP.

Later, we joined the Chinese College Sports Association and the Middle School Sports Association, and we brought the tiger to us.

In fact, this series of things are capital, and all of them are driven by capital. What is the relationship between these events?

In fact, all of them are back to the core of investment logic, and we must fully meet everyone's needs. Therefore, we are able to participate in and organize our future sports events and activities through the students we have just talked about, for example, from primary schools to 320 million of college students. We have three groups of people, school crowds, Tiger flutter and all sports related companies that we have invested. We have got more than 200 million registered users, and the sports technology companies that are invested and participated by App now have nearly 100 million of our monthly activities.

Such a crowd, such user big data, will be helpful to us in the future research on the logic of the layout of the sports industry, or the steps and stages of implementation, which is what we are doing and logic.

Yang Bing: in fact, Tiger flutter is very typical. With the help of capital, some lovers have done some things and made some things.

At the very beginning, my partners and I first assumed a BBS and didn't know much about capital. After making some efforts to grasp the opportunities of some times, we had a certain scale.

When the company got a certain scale, we got the first investment in 2007.

Under the promotion of investment, Tiger flutter became the largest sports website in China in 2009. In 2013, we became the largest App of sports enthusiasts in China.

All these are inseparable from the promotion of capital.

In the course of development, we also have many contacts with many of us who love sports industry. We have our own unique understanding and understanding of this field. We have our own unique way to meet the needs of sports users. In this context, we work together with industrial capital such as noble birds. Through our understanding of sports industry, we can help some entrepreneurs who have dreams, abilities and daring to help them realize their dreams together with the power of capital.

In this process, there will also be some sports industry overheating, bubble, and other industries. This is a very normal phenomenon. The so-called sports industry in the past many years, it should be said that the user's potential demand is running in front of capital in the past many years. But in the past two years, capital has unprecedented concern for the sports industry, even if there are some small bubbles, it is very normal.

With the continuous development, we believe that capital will bring greater and greater changes to the whole sports industry and bring more and more help.

Xu Zhihua: from the perspective of our thinking, from a perspective of basic sports enthusiasts' needs, a sports enthusiast needs not only to buy equipment, but also to exercise, to communicate, to get emotional satisfaction, to watch competitions and so on.

In the past, we have focused on equipment satisfaction, and more in other fields are considering brands. With the coming of the "strong wind" in China's sports industry, PEAK put forward that in the equipment manufacturing industry, it is a very timely way to begin to expand to the sports service industry.

Because the current capital market in Hongkong is a capital market dominated by institutions, they are more rational and pragmatic. They do not want to do something that seems to be risky or not good at it, and you want to focus on what you are good at.

Under such circumstances, we should seek a better platform, or seek a higher platform that can support our next goal development. This is why we are determined to privatize.

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Of course, privatization is still in the process, and it has not been successful. This is also a major shareholder of our company, especially our family. Based on the confidence in the Chinese sports industry, we believe that in the future, China's sports industry population base and the confidence of increasing demand, we make such a decision.

Back to the relationship between capital and industry, what do I think of capital? Just now we have been walking all the way, from the original start-up company to the listing in Hongkong, and now we are seeking to withdraw from the market. The whole process is not easy, but the whole process is closely related to capital.

I think we can understand capital as a catalyst. If you are in the right direction again, the catalytic role of capital will make you go better, but if you are not in the right direction, it will also accelerate your death.

Capital can be understood as a catalyst, as entrepreneurs, sports industry practitioners, more need to consider whether we are in the right direction.

In the right direction, the business model of each stage is different and crucial. Finally, we do business, and the final goal is to repay shareholders. I think this is something that must be faced. No entrepreneur can think of what I do, where my business model is, where I am, I don't know, you don't even know where your future business model is going to start, it's irresponsible.

Of course, you can leave behind the move, this is your last move, but the business must have cash flow, with profits to support, the enterprise can develop.

Of course, the requirements of cash flow and profit are different at different stages. In the early stage, more business models are required. After entering the middle and later stages, you may ask for your cash flow, and your profits should meet the requirements of capital.

Capital is a catalyst, it is not pure good or bad, the key is where you are.

Liu Fan: like the outbreak of the first year of sports in 2015, capital still occupies a very important position. It may be more fierce than the catalyst. It is like the last straw to drag the industry to the age of vigorous development.

The dune capital I founded is a relatively young investment organization. It was just established in early 2014. At the beginning of our establishment, sports is the industry direction of our investment. This is a more interesting experience to share with you.

In those days, we mainly looked at the cultural industry and sports industry. Before that, we had a good investment manager for mobile games, and thought that the style was not divided.

Sports industry as a point of consumption upgrading, we pay attention to the housing economy + dynamic economy, should be to the point of time, especially in the super city and first tier cities, then began to pay attention to sports industry, it is also very lucky, in October, No. 46 launched, in 2015, the capital market burst up.

In 2014, when we were looking for good sports events, we found that the biggest problem was that sports had no industrial thinking and direction. The whole sport was more like a project, and the foundation of a business is, of course, because of the lack of industrial chain, including the lack of physical education industry. At that time, it basically belonged to the planned economy sports system, and there was no such hotbed.

Since the introduction of the policy, the influx of capital has attracted a lot of attention.

This change led to the influx of funds. The first step was to motivate people. In my view, it may be a very important opportunity for the whole sports industry to have a V bottom.

At least a lot of people who had better chance cost before, he may be in some entertainment industry people, willing, or other Internet industry, or other industry people, the attention and devotion of sports is too much.

Also very grateful, like the giants, Wanda, music, Ali, these will invest a lot of money in all kinds of copyright, including the layout of some clubs, first of all let the sports industry become more beautiful, good-looking, at the same time, based on the eight thousand US dollars per capita GDP, can be very natural sports industry, sports consumption appeal on the basis of the participation economy will certainly keep up with, this is also dune capital for the participatory economy is very concerned about.

Because people eventually want to consume, the sports industry itself is a big health related, related to the cultural industry, and education related, is a natural O2O industry, because in addition to the competition, there is no sports industry can be done on the finger, on the computer, on the mobile phone.

So it needs to have a lot of deep down to love sports, and some thoughts on the Internet will also have some ideas. Of course, it is better to be able to understand more about the financial team.

Combined with these, I would feel that capital is quite important for the sports industry in this stage.

As I remember last year, there were more than 150 investments, and more than 25 billion of the amount of financing happened in the sports industry.

But we really look at 2015 and 2014, even if the growth of GDP in 2016 is much higher.

Patience is needed. Just like the patience of Yi teacher, we must first lay out the layout, or we need to invest some money. The bubble will not matter. After the bubble is down, we will know who can push a wave.