Chapter 1472 [Xingyu Technology's low-cost capability is also very strong]

"At what price can the lowest price of the vehicles cooperated with Tongtai be reduced?" Fang Hong asked while looking at the video. Qin Feng replied: "It should be around 210,000 yuan. This is already the limit at this stage. It cannot be done." to a lower price than this.”

Qin Feng pondered for a while and then added: "Unless the employees of Tongtai Automobile Group are not given a significant salary increase, their salary and benefits remain as they are, and the scale of employee expansion is reduced from the original 20,000 people to 13,000, this would be The final selling price can be reduced to about 170,000 yuan.”

Hearing this, Fang Hong shook his head and said: "It is not advisable to squeeze the residual value of corporate employees. This is contrary to the value concept that Galaxy has always adhered to. A sweatshop label will definitely be deducted."

Qin Feng nodded and said: "Not only that, if you do this, employees will definitely take advantage of it. The strict quality control requirements will definitely not be met. The probability of overturning is extremely high, and it will also damage the brand reputation of Xingyu Technology. Compressed to 21 Wan is not only the limit of our current capabilities, but also a relatively balanced price, and the company is not without profits.”

It is not advisable to increase profits by squeezing the surplus value of a company's employees. It will fall into a vicious circle of death spiral. When employees' income is low, they will have no money to spend, and if they cannot afford a car, it will inhibit product sales.

The size of the employees of Tongtai Automobile Group is indeed small, and the sample size will not affect the general trend.

But Xingyu Technology is not just cooperating with Tongtai Automobile Group. This is just the beginning. More car companies will cooperate later. The total sample size will be large, and quantitative changes will lead to qualitative changes.

What's more, the automobile industry is a typical intensive industry, with tens of millions of people dependent on this industry chain.

Fang Hong nodded and asked again: "So with a selling price of 210,000, what is the gross profit of Tongtai's bicycles? Have you calculated it?"

Qin Feng answered in an orderly manner: "According to the results of our internal data model, after stabilizing, the gross profit of a single vehicle can be about 12.6%, that is, the gross profit of each vehicle sold is 26,500, and the final profit can be 21,500. In the end The net profit rate can reach 6.5%, which means that for every car sold, Tongtai Automobile Group can make a net profit of 13,600 yuan.”

Hearing the data he reported, Fang Hong was slightly surprised, and immediately said: "There is a final net profit rate of 6.5 percentage points, which is more than twice that of Yadi. That's pretty good."

According to the 2018 financial report data disclosed by BYD, the company’s full-year net profit margin was only 2.73%, while this year’s interim performance net profit margin was 2.65%.

Fang Hong couldn't help but smile and said: "This kind of cost control ability is already very good. I think Xingyu Technology's low-cost capabilities are not inferior to BYD. After all, our products have higher gold content. The net profit of the bicycle can be 13,600, I estimate. If Yang Zhenghai found out, he would be so excited that he couldn't sleep for three days and three nights, and he would be secretly enjoying the fact that the net profit from the bicycle was 5,000 yuan. "

This is not an exaggeration at all. After all, if Tongtai Automobile Group had not embraced Xingyu Technology's super power, it would probably have been delisted or even faced bankruptcy and reorganization.

The net profit of a bicycle can reach 13,600 yuan. At present, Biyade's bicycles can't do that, so what kind of bicycle is needed?

Such a net profit is possible because Tongtai Automobile Group cooperates with Xingyu Technology, and many technologies are directly supported by Xingyu Technology. This means that Tongtai Automobile Group no longer needs to conduct research and development on its own, and can save a large amount of research and development costs. This part of the money saved is profit.

This is all due to the glory of Xingyu Technology, or it can be said that after reaping the technological dividends overflowed by Xingyu Technology, Yang Zhenghai will know that lying down and handing over his "soul" is a good thing.

Xingyu Technology is also building cars itself, focusing on the mid-to-high-end market, and investing as much as it can in R\u0026D.

With so much technology accumulated, it does not go to the mainstream mass market, but it can overflow some technological dividends to the younger partners of the car companies it cooperates with. This is also a major attraction for potential partners of other car companies in the future, and it is also a reflection of competitiveness. .

Compared with Xingyu Technology's SCN-3 sedan, the total gross profit of selling three cars is equivalent to one SCN-3. However, with a price of 210,000, the audience is definitely larger than that of Xingyu Technology's N series cars. of.

Fang Hong thought for a moment and seemed to be talking to himself: "If this car can be successfully launched on the market as scheduled, it will not be a big problem for the annual sales to be stable in the range of 700,000 to 1 million vehicles. Corresponding to the company's annual net profit The profit can reach the range of 9.5 billion to 13.6 billion, and given a price-to-earnings ratio of 50 times, the corresponding market value can range from 475 billion to 680 billion. "

At this point, Fang Hong turned around and said with a smile: "Considering that Tongtai Automobile Group handed over its 'soul', this 'soul' is worth 20 times the price-earnings ratio. If you cut off 20 times, it will be priced at 30 times the price-earnings ratio. Correspondingly Its market capitalization is in the range of 280 billion to 400 billion.”

This is all very clear. Today, Qunxing Group has, to a large extent, mastered the pricing power of the capital market in the Mainland.

Fang Hong continued: "To the younger brothers who are cooperating, you, the leader of the martial arts alliance, must have a good balance. You cannot let a single younger brother become bigger. In the future, the car sales of these younger brother car companies must be roughly balanced, so that they can be in the lower level." Niche competition is intertwined.”

Hearing this, Qin Feng couldn't help but say: "In this way, will they directly lose their ability to innovate and tacitly stop competing with each other?"

Fang Hong smiled and said calmly: "Do you think that the king of volume, BYD, standing next to you, is a decoration?"

Qin Feng nodded in sudden enlightenment when he heard it. He almost forgot that there was a Dizi, who was a super king of volume, and he was walking his own way. It is highly likely that he would not cooperate with Xingyu Technology.

The younger brothers of Tongtai Automobile Group are in the same ecological niche as BYD and are competitors with each other, but they are not in the same system. With such a super king of volume, the younger brothers definitely dare not lie down and wait for feeding, otherwise they might be rolled to death one day.

Xingyu Technology will wait until the ecological system of the sinking market is established. The many younger brothers in this ecological niche will not care whether they live or die. If they are eliminated, they will be replaced by others. In the eyes of Xingyu Technology, it is metabolism. Anyway, whoever is eliminated and whoever enters will use Xingyu Technology's standards and intelligent solutions.

It is like the Android ecosystem in the smartphone industry. The collapse and rise of Android phone manufacturers have no impact on Google. What has an impact on the Android system is Xingyu Technology's Tai Chi TOS system and Apple's iOS system.

Xingyu Technology and Tongtai Automobile Group jointly launched a sedan. The 15% share of the car price is reflected in the cost of this car for Tongtai Automobile Group, because Xingyu Technology plays the role of a supplier.

The price is 210,000 yuan, which means Xingyu Technology has to accrue 31,500 yuan. As long as Tongtai Automobile Group sells a car, Xingyu Technology will take 31,500 yuan, mainly for technology licensing fees and channel marketing fees.

Channel marketing fees account for 6%, which means that in the future, when Tongtai Automobile Group builds and sells the car, the car can be sold in Xingyu Technology's online mall, offline flagship stores and direct stores.

Technology licensing fees account for 9%, of which the main technology license is Xingyu Technology's intelligent car system, which accounts for 7%, or about 22,000 yuan per car.

If Tongtai Automobile Group can sell 700,000 cars a year, with a net profit of 9.555 billion, Xingyu Technology can earn 22.05 billion, which is 2.3 times the net profit of Tongtai Automobile Group.

Objectively speaking, the bulk of the profit is still taken by Xingyu Technology.

But for both parties of the cooperation, both are winners, except that Xingyu Technology wins big and Tongtai Automobile Group wins medium.

Even if it is a medium win, it is a big win for Tongtai Automobile Group, which is on the verge of bankruptcy, and it is a win without effort?

With an expected net profit of tens of billions, how many domestic automobile manufacturers can achieve such a profit?

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