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Alibaba research briefing Alibaba research briefing Time :2007-10-10 Location: Venture House, Alibaba is headquartered in Hangzhou Officer: Ma (Chairman), David Wei (CEO), Jia Jiong (CEO assistant) Research: Zhongzhao Min, on behalf of other investment institutions ? 1, Ma its people Alibaba Chairman of the Board and Chief Executive Officer. &quot;Concave cheeks, twisted hair, a mischievous grin, a 5-foot-tall, 100 pounds of urchins look like&quot;, July 17, 2000 the world famous magazine &quot;Forbes&quot; the cover story for the first time a Chinese entrepreneurs were describing, the &quot;little man&quot; is the founder of the world&#39;s largest B2B website Ma. 1964, 10, was born in Hangzhou. June 1988 graduated from Hangzhou Normal University Foreign Language Department. April 1995 founded the &quot;Chinese Yellow Pages&quot; website, is the first Chinese business information site online, in the earliest formation of enterprise service-oriented Internet business model. The end of 1997, Ma and his team developed the Ministry of Foreign Trade in Beijing, the official site, online commodities exchange market a series of national sites. In early 1999, he went back to Hangzhou to 500,000 yuan venture to develop Alibaba (www.alibaba.com). In 2001, Chinese enterprises, &quot;WTO&quot;, to better develop the international market goals, Alibaba launched the &quot;China Suppliers&quot; service, recommended to the world China&#39;s top export enterprises and commodities, also launched the &quot;Alibaba recommend purchasing commercial&quot; service with international procurement group Wal-Mart, General Electric, Markant and Sobond other allied together in cross-border online purchases; In the same year, together Alibaba China Federation of Industry, the State Council Development Research Center and other departments jointly launched the initiative set up in China, &quot;9.19&quot; Integrity Day, and introduced world-first online credit management of enterprise-class products &quot;credit links&quot;; In the same year, the Harvard Business School in the public Alibaba China MBA case management practice, and again in transition management practices Alibaba selected case studies. In September, the U.S. financial magazine &quot;Forbes&quot; named best in the world again Alibaba B2B site is one of the only selected site. October 2000, the U.S. Asian Business Association selected this year&#39;s Ma, &quot;business leaders&quot;, in recognition of his innovative business models and enterprises to enter international markets to help countries realize the contributions made by globalization. Jack Ma, founder of the company&#39;s development closely related to the exchange and study with him, I give the following positive assessment: Ambitious and firm conviction, rigorous thinking, stunned the world rally team, the implementation of strong, is a rare entrepreneur ? Second, B2B e-commerce environment 1, China&#39;s Internet development: the development of the Internet a necessary condition for B2B e-commerce, China&#39;s Internet users from 59.1 million in 2005 to 1,37 million in 2006, a compound annual growth of 23.4% penetration rate of 4.6 over the same period % to 10.5%, 66% use broadband Internet access, according to the number of users has been second in the world. However, the penetration rate of the United States and Japan, and 44.9%, 69.4%. 2, China&#39;s SMEs: any economies, SMEs are one of the most creative groups, China is no exception. According to the National Bureau of Statistics, 2004, China&#39;s SMEs, together with other private companies, the contribution to the GDP is about 58%, 48% contribution to revenue, import and export contribution to 68% and 75% of employed urban employment. By the end of 2006 more than 42 million SMEs. Third-party B2B online trading market operated by the increasing number of SMEs. 2002, 100 million to 8.8 million in 2006. And according to official statistics, online marketing budget of the total budget increased from 2.1% in 2002 to 10.8%, and the rise. ? Third, the business profile Alibaba is China&#39;s leading B2B e-commerce company, mission is to help small and medium enterprises development, so that &quot;There is no difficult business.&quot; Calculated according to registered users, is the largest online B2B company. Mainly by four domestic e-commerce business: Alibaba, HC, global resources and NetSun 2004, accounting for 39% of Alibaba, Alibaba in 2005 accounting for 56%, accounting for 68% in 2006. The company operates two trading market, the international trading market (www.alibaba.com) and domestic market (www.alibaba.com.cn). , To expand the customer base, the company free of charge to all registered users to provide basic services, all the buyers have free and members who wanted to become suppliers of membership fees charged by the seller, the international members through annual dues 50,000 yuan, the domestic members of 2800 yuan per year, Membership renewal rates as high as 70% - 80%. The company also provides value-added services to members to get more revenue. From 2004 to the first half of this year&#39;s business and profits are listed below: ?2004 2005 2006 2007 (January-June) Registered users (million) 620,110,019,802,460 Paying members (name) 77000141000219000255000 Revenue (million) 359407383013639095770 Net income (million) 7386170454219938295207 ? Fourth, investment points Ma and Wei, that the company has the following investment highlights: 1. SME e-commerce market, the future prospects are very bright. 2002 SME B2B e-commerce market is only 1 million, in 2007 it reached 11.7 million U.S. dollars. With the increasing use of B2B e-commerce SME platform, B2B e-commerce platform in 2012 will reach 41 million U.S. dollars, the annual compound growth rate will reach 45%. At the same time SME online marketing budget share of only 2.1% in 2002, 2006, it reached 10.8%, is expected to reach 20% by 2012. 2. Alibaba is now the world&#39;s first B2B e-commerce brand, revenue and market share ahead. Alexa statistics show that Alibaba.com is the world number one e-commerce sites, but also the world&#39;s first national business and trade sites. 3. Alibaba and the users is a win-win business model and revenue model. Alibaba currently provides users with free registered users, charges membership services and value-added services will enable users of different services will be the result of different promotional and marketing opportunities. Alibaba also will also provide users of different services revenue, so will be a win-win revenue model. 4. Alibaba has the perfect combination of localization and international management team and unique corporate culture. Alibaba 18 business veteran still in service for the company, including seven in the listed companies, and other all other companies in the group, but the board has four founders, the board of directors and management team, many of per capita international background. Alibaba to enterprises in order to better implementation of six values will be incorporated into the quarterly appraisal of their being, and financial indicators to each accounted for 50%. 5. Alibaba has good growth opportunities and development strategies. Currently, there are 42 million SMEs, of which 900 SMEs using B2B million, of which Alibaba has only 256,000 paying members, so the market prospect. Alibaba future regional expansion will continue to expand the number of users, paying customers to accelerate the conversion, and will also strengthen the development of new products, drive sales, provide more value-added services. 6. Alibaba now has a good cash flow and profitability, low risk and high growth in the financial model. Alibaba international trading market growth rate of registered users reached 46%, of which 31% growth rate of paying members; the Chinese market registered users grew by 62%, 41% paid membership. Bue said that Alibaba&#39;s annual revenue growth of 69%, annual operating profit growth has reached 114%. ? Fifth, research summary Slightly.
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