After finishing his trip to the United States, Zhang Yida quickly flew to Boao Town, Qionghai City, Hainan Province to attend the 2017 Boao Forum for Asia Annual Conference.
The theme of this annual meeting is "Facing the Future of Globalization and Free Trade", with a total of 42 sub-forums and 12 closed-door dialogues, with diverse forms, rich content, and wide-ranging topics.
Many companies under Zhang Yida have received invitation letters.
Among them, Lu Qi delivered a speech at the artificial intelligence sub-forum on behalf of Zhonghe Group.
Gathered together with Microsoft Global Senior Vice President Hong Xiaowen, Hanson Roboti Goertzel, Stanford University Professor Zhang Shousheng, Qiandu President Zhang Yaqin, Sogou CEO Wang Xiaochuan and other big names in the technology industry.
Together they discussed the future of artificial intelligence and the profound changes and impacts it will bring to people's lives.
Zhang Yida, on behalf of Ruixiang Digital Technology Group, participated in the financial technology sub-forum.
He highlighted the various scientific research achievements achieved by Ruixiang Digital Technology over the years, and stated that Ruixiang Digital Technology Group will continue to maintain an open attitude and export various advanced financial technology technologies to ASEAN and surrounding Asian countries.
Then, Zhang Yida participated in multiple roundtable meetings with private entrepreneurs and IT leaders.
During the break during the meeting, Liu Yonghao met Lei Jun and Zhang Yida for a chat.
"Yida, I haven't had time to congratulate you yet. Congratulations on the successful listing of the third company!"
Liu Yonghao looked at Zhang Yida with a smile. He admired the young man sitting opposite him from the bottom of his heart.
I haven't even graduated from college yet, and three listed companies have been created.
And each one is quite large, with their combined market value approaching US$20 billion.
Lei Jun also smiled and said: "In the past, the media always used me as the general manager of Kingsoft at the age of 28, and they thought it was extremely arrogant.
It's okay now, everyone's eyes are focused on you."
Zhang Yida burst into laughter, "The two eldest brothers are both heroes of the same generation. If they had debuted in the mobile Internet era, their results would probably be just as high as mine."
I have caught up with a good era, otherwise in the 1980s and 1990s, no matter how good your skills are, it will take time to accumulate."
The three made some jokes, and Liu Yonghao added: "I think besides Yimindai, many Internet financial companies are planning to go public this year. Is the time ripe?"
"It's almost there," Zhang Yida nodded, "it started to explode in 2013, and it has been accumulated for three or four years now, and many companies have already stood out.
There are not just one or two mutual financial companies with annual revenue in the billions and annual profits of hundreds of millions. Many of them are ready to go public."
Lei Jun asked again: "Does Ruixiang have a clear plan to go public?"
Zhang Yida shook his head, "The time is not yet ripe, we have to settle down."
"Then the Rice Group is going to get ahead of you."
Zhang Yida remembered that in his previous life, rice was launched in 2018. Calculating the time, it was indeed almost the same.
Rice mobile phones are not only popular in China, but have also achieved leading positions in many overseas countries and markets.
Lei Jun's second entrepreneurial venture can be regarded as relatively successful.
Liu Yonghao talked about Pet Holdings again. He smiled and said: "Pate Holdings is amazing. From e-commerce to pet food factories and pet medical chain, it has formed a complete ecosystem.
Others want to learn from it, but they can’t!”
Zhang Yida chuckled, knowing that Xinwang Group was also interested in entering the pet market to get a piece of the pie.
Earlier, it invested in the pet e-commerce company LeChong and acquired a dog food factory in Australia.
The momentum is quite good, but compared with Pate Holdings Group, it is still a little behind.
The biggest problem still lies in the Internet platform and traffic.
If traditional enterprises want to transform into a new economy, it is not easy to succeed all at once.
However, Zhang Yida did not dare to slack off. The two biggest competitors of Pate Holding Group in the pet market were Gaoling and Xinwang Group.
None of these two companies are fuel-efficient.
It’s just that everyone is still staking their claim in the incremental market, and the competition is not fierce.
While chatting, the three of them brought the topic to Xingwang Bank, a community of interests.
"I see that Alipay has opened a traffic portal for MYbank, so I wanted to discuss with you to see if Toulonghui can also open a portal for Xingwang Bank?"
Liu Yonghao was afraid that Zhang Yida had other ideas, so he explained: "Yida, as you know, Internet banks cannot open physical branches. The task of attracting deposits must be completed online.
Apart from its mobile phone application market, DaMi Group cannot provide Xingwang Bank with much help elsewhere.
As Touronghui has 500 million users and is a financial APP, the heavy responsibility of attracting traffic has to fall on you.
Of course, Xingwang Bank will not let Rui Xiangbai do the work. You can settle the fees how you want."
Zhang Yida waved his hand and said, "I'm serious, Ruixiang is also a member of Xingwang Bank, and we have no shirk from the responsibility.
In addition to collecting deposits, Ruixiang can also share the borrowing assets of Yongbei and Daibei with Xingwang Bank, and we will jointly lend."
"That's great!"
Liu Yonghao was overjoyed. Regarding the Internet industry, he only knew how deep the water was after being exposed to it.
Zhao Weixing, the current president of Xingwang Bank, told him that traffic is the foundation of everything. Without traffic, there would be no users, no deposits, and naturally no lending business.
There are only three main things that banks can do, deposits and loans, and deposits and loans are gone. Under the influence of mobile payment, the transfer business is useless.
Zhao Weixing was a talent he poached from Leech Financial Services, and Liu Yonghao still listened to his words.
"Yida, I'll help you."
Lei Jun smiled and said, "In addition to Daibei and Yongbei, Yimin Wangjin and Yimindai, as well as Ruixin Group's Xinglong Loan and Huinong Dai, if you have needs, you can come to Xingwang Bank to wholesale funds."
"Yes, yes," Liu Yonghao nodded hurriedly, "the financial cooperation between Xinwang Financial and Rice Financial can be slowed down.
Prioritize the satisfaction of your companies. You have helped so much, and you deserve it."
Zhang Yida smiled and said: "There's no rush, let's wait until the deposits are increased."
"OK!"
Liu Yonghao nodded heavily and added: "After reading the operating reports of WeBank and MYBank, I realized how long there is to catch up.
The cumulative amount of loans issued by WeBank's "Weilidai" exceeds 160 billion yuan, the total number of loans exceeds 20 million, the maximum daily loan size exceeds 1 billion yuan, and the maximum daily number of loans exceeds 100,000...
The number of small and micro enterprises served by MYbank has exceeded 2 million, with a loan balance of nearly 30 billion yuan and total assets exceeding 60 billion yuan...
We currently have a registered capital of 3 billion yuan in our account, and business development is slow. It is not an exaggeration to say that we are "poor and have nothing"."
Zhang Yida comforted him, "Don't worry, Xingwang Bank has only been open for three months, and this all needs time to settle."
Lei Jun also said very domineeringly: "We three cobblers plus one piece, I still don't believe it, we can't arm-wrestle with two horses."
"Haha, what you said is absolutely true!" Zhang Yida also agreed.
After finishing the meeting and returning to the capital, Zhang Yida immediately arranged for Ruixiang's people to make various connections with Xingwang Bank.
Zhang Yida requires the following people to complete various data docking and testing in the shortest possible time, and arrange for Xingwang Bank to settle in the Touronghui APP as soon as possible.
Time waits for no one!
WeBank and MYbank, the former was established two years earlier than Xingwang Bank, and the latter was established one year earlier.
It has first-mover advantage and the traffic advantage of major shareholders.
To be honest, Zhang Yida doesn't have much confidence in surpassing these two companies. It would be a good victory to catch up with them.
In terms of equity, Ruixiang holds 29.5% of the shares of Xingwang Bank. Ali and Penguin are the largest shareholders of the two banks, with a shareholding ratio of 30%, which is only half a point higher than Ruixiang.
In terms of shareholders' equity, the gap between Ruixiang and Xinwang Group is only half a point, which can be considered negligible.
The most important thing is control. Currently, the control of Xingwang Bank is in the hands of Xinwang Group.
In addition to appointing directors, the positions of chairman and president of Ruixiang and Daimi Group are all in the hands of Xinwang Group.
However, Liu Yonghao is also an old man, and he does not live alone. He is willing to give even part of the raised funds to the Internet finance companies owned by Zhang Yida and Lei Jun.
The starting point for Zhang Yida's investment in Xingwang Bank was to provide funding channels.
As long as there is no problem with this, everything else is fine.
Moreover, TouRongHui provides richer financial services, which is also beneficial to Ruixiang.
…
DouShi CEO Zhang Lan reported a big news to Zhang Yida.
"You said that Kuaishou has begun to enter countries such as Russia, Brazil, and Vietnam?"
Zhang Lan looked serious, "Not only Kuaishou, Toutiao Video has also launched an overseas version of TikTok, entering the Southeast Asian and American markets.
This is to compete with us in the international market."
Lu Qi, who was listening on the sidelines, also interjected: "It seems that Kuaishou has also noticed that Sweet Potato Video is inserting itself into their inner market. Is this a counterattack?"
He turned to look at Zhang Yida, "The expansion of the Asian market must be accelerated. In addition, the European and American markets must also strengthen defense."
“Currently it’s Kuaishou and Toutiao, but in the future it may be Facebook and Google.
A user only has so much Internet usage time, and a large chunk of it is cut off by short videos.
Any giant that relies on advertising revenue will be restless. I wouldn’t be surprised if Penguin and Qiandu launch their own short videos in the future.”
Lu Qi sighed, "That's true, but there may be so many competitors coming in, which will pose a great challenge to us."
"Under the throne, there are many bones. In the short video, there will only be one king in the end.
DouShi and Musical.ly have a certain first-mover advantage. But the advantage is not obvious. When the number of daily active users in the world reaches 1 billion, I am afraid we will be able to breathe a sigh of relief."
Lu Qi looked solemn, "We are still more than four times short of this goal. We have a tough battle to fight!
At present, our priority is to enter the markets of developed countries first, which is for commercial realization. Do we need to adjust our strategy now?"