What Lin Yi got in Yuezhou was a piece of "familiar land", and the local government really provided great convenience and gave him the green light to go through all the procedures.
Therefore, Wanli Travel soon obtained the complete set of procedures. Lin Yi personally announced the official start of the production base and symbolically shoveled the first soil.
At this point, the car-building project for which he had high hopes entered the implementation stage.
Another thing can also be put on the agenda.
After Lin Yi returned to Beijing from Yuezhou, the company's CFO Liu Jianni submitted an important document, namely the 2017 financial audit report.
"I won't go over it. You can tell me the key points."
Liu Jianni had already expected it, so she dug out the attached summary for him and introduced it.
"First and most importantly, in the 2017 financial year, due to the various cost reduction measures we implemented since the beginning of the year, Wanli Travel's main business, the online ride-hailing business, has achieved profitability."
"Because this is our first year of turning a loss, the level of profitability is not very high yet, but it is a good start and we expect better financial performance in 2018."
"As a result, we have achieved the performance commitments we made to investors when Wanli Travel merged with Tukdu Taxi in the third quarter of 2016."
"Lin Yi, we did it."
This is indeed a big achievement, because the unlucky Uber is still troubled by profitability problems. As much favor as Kalanick received at the beginning, he is now being criticized a lot.
I don't know how long that guy can sit there.
However, Lin Yi didn't take this as much good news. He just achieved his goal step by step. After all, they made a lot of trade-offs for this.
Since the merger with Dudu, except for the kings of each group who briefly coveted the piece of cake that Wanli Travel had already occupied, no other unsighted guy has jumped out to oppose it.
Not only did Lin Yi draw a line between Chu and Han with Wang Xing, but he also exercised restraint with all overseas competitors, including Uber, and did not take the initiative.
In short, profits should be made.
"In addition, the company's overall financial performance in 2017 has other highlights."
"Given that we have completely divested the unprofitable business modules, we are completely clean in this regard."
"In other aspects, our exploration in new business directions is mainly reflected in investment subjects, specifically three projects."
"Among them, the investment in Mobike, a shared bicycle company, contributed the largest amount of non-operating profit to us in 2017."
“Since our first investment in Mobike in September 2016, we have made additional or co-invested investments in every subsequent round, and our shareholding ratio reached a maximum of 40% before Mobike was acquired.”
"In November last year, you decided to give up Mobike's merger and acquisition opportunity to Factory A. The total consideration at that time was approximately US$3 billion, and the transaction was completed before the end of the year."
"Through this transaction, the company recovered a total of approximately US$1.2 billion. Compared with our total investment in previous rounds, the return on investment exceeds 200%, and the cycle is just over a year."
“Such a good project was something I didn’t often come across when I was a venture capital investor.”
Liu Jiani was obviously in a good mood, and it was rare for her to make a joke.
Lin Yi invested in the shared bicycle industry for more than a year, and finally gave Mobike a false shot and got rid of this pit.
Of course, Factory A doesn’t think it’s a trap.
This kind of transaction in which both parties feel that they have made a profit is a perfect transaction.
"There are also two projects, namely the autonomous driving project in cooperation with Xiong Factory, and the car manufacturing project that has introduced the first round of financing led by Factory A."
"Both projects are now in the early investment stage, with huge costs and long investment periods. They are expected to drag down performance for a long time, so we have divested them financially."
"The autonomous driving project was originally led by Xiong Factory, and the car manufacturing project was intentionally split off and named Pengcheng Automobile separately. According to your opinion, it can be independently listed in the future."
"This is the general situation of the company."
Liu Jianni talked about it in a variety of ways, but in fact it can be summed up in one point:
They have met the conditions for listing.
But before that, Lin Yi had another suggestion.
"Jenny, there is an idea that I have been thinking about for a long time since my senior sister left. I think it is time to discuss it with you."
"Now the company's business lines are very concise, and our goals are also very clear. You know more about profitability than I do."
"At the same time, I also hope to devote more energy to focusing on the highlight of the next few years, the car-building project."
"So, I suggest that your position be promoted from CFO to CEO. What do you think?"
Such an important decision was certainly not made on a whim.
In terms of loyalty and ability, Lin Yi has worked with Liu Jianni for several years and has full trust in her. In terms of the current business of Wanli Travel, even if Lin Yi continues to serve as CEO, he may not be able to do better.
Judging from the company's development stage, a professional manager with a financial background is responsible for the top management team, which is usually a sign that a large company is maturing.
For example, Xiaoyaozi from Factory A.
Of course Liu Jianni also understood what a huge opportunity this was for her.
She has been on this journey for four years, from a venture capital investor to a corporate CFO.
And from CFO to CEO, it is a very long distance. Many people cannot cross it in their lifetime, but now it seems that it is just around the corner.
There must be some turmoil in her heart, but she didn't show any urgency.
"As for Pengcheng Automobile, after the production base starts construction, the entire construction cycle will not be completed in a short while. As for the research and development of Pengcheng 1, you only play a guiding role."
"Wanli Traveling here, although the business has been stable, after all, our history is only five years. Is it too early for you to step down at this time?"
"From my experience, it is best to have a transition period of one or two years after listing, then the whole process will be very smooth."
Lin Yi looked more confident than herself.
"There is no need to be so cautious, because traveling thousands of miles is no longer the precarious situation it once was. Changing a CEO will not cause any turmoil and speculation. Wasn't it fine when the senior sister left before?"
"Besides, I am not quitting the company directly. I will still serve as chairman, but I will basically let you and the management team go at the specific business level."
"As for the timing issue you mentioned, I think it should be done sooner rather than later. If you want to change, do it before it goes on the market. If the province launches a surprise attack after it goes on the market, the outside world will think something has happened to us."
Liu Jianni understood.
Although becoming CEO does not mean that she has the highest power in the company, as Lin Yi is still on top, this step is still of great significance.
For this, she wanted to express her gratitude.
As for why Lin Yi did not stay as CEO himself, but let her serve as a transitional position such as president, the reason is not difficult to guess.
Liu Jianni still remembered that Lin Yi said that in his heart, that position only belonged to one irreplaceable person.