Mr Wang at the annual meeting of the speech: how to achieve 2015 billions

Mr Wang in the beauty of a mass of third anniversary today in a speech in the meeting, said the group had been buying industry, market share is more than twice the second. Mr Wang is also explained in detail the Meituan 2015 billions of target is how to calculate.

this is Mr Wang’s speech in full:

the stage lights are very bright, I can’t see you, but I want to say that all our colleagues are too talented. Today, so valuable time, I want to tell you about three o ‘clock.

the first point is appreciated. This is not a subject, review Meituan for three years, we initially a dozen people, one city, a single every day till now there are more than 2700 colleagues, 2700 cities in China, 40000, has made some achievements, made me feel thanks to many people.

first of all to thank the people around me, I think the first thing you good to the people around, realize their good, you can be good, for further, in turn, is certainly not founded. So, I want to thank and I work together with the matter, thank you, thank MuRongJun, thanks to Lao wang, thank you cat, support, and I want to thank them for helping me, and tolerance. Because everyone has flaws, include me too, just because people have a lot of shortcomings, so in the work, the team are needed in each aspect, the team can help each other and support each other, tolerate each other when necessary.

then I want to thank all the colleagues, including performances, no show today’s colleague, as well as the star of “American” today, and haven’t judge on the star of “American colleagues, is your joint efforts to make the team to grow better. In addition, there are a lot of colleagues in the field, and is now in the work, can’t come to the scene for uninterrupted service consumers colleagues, we would like to thank them.

we would also like to thank has now left the company, but had to Meituan former colleagues. No matter what because they leave the group, they in office for the group’s business done things, service for consumers and businesses, I think should also thanks to them, without their efforts, and there would be no today.

so, we would like to thank all the colleagues, and present is not present, present and former colleagues, thank you.

I want to talk about the second point, also let I was very excited, is the goal.

in the past three years we have made very good result, but we should not only look at the past, still more to look forward, to see a lot of things in the future. So, I prepared a very brief PPT, this is only one page of PPT, share with you.

let’s take a look at this simple fact, after three years of efforts, we have become the undisputed “coupon”, our market share is the second of two times the left and right sides. You must be very concerned about, more want to hear a word, is not only the group-buying, O2O. O2O words is a very fresh, it has very much explanation, literal interpretation is OnlineTo Offline and online to Offline, there can be many different reading, but I think is the most important characteristics of a O2O online to Offline. Is the trading online, offline consumption.

you think about it, the traditional e-commerce, C2C, B2C, online trading, it is offline. So our new O2O, Internet part is similar, the same line to hand in easy, but we do not a commodity of e-commerce, we do the local service is the focus of the e-commerce, so, the most important feature is the trading online, offline consumption, O2O two parts, the part is important in addition to the consumer is the transaction, when it comes to trading, it is the value of the volume of the simplest expression.

we are launched on March 4, 2010, to the end of that year, the total volume is 140 million, by 2011, we have increased by about 10 times. Is the expansion of the city, on the other hand, was exploring the depth of each city, so we achieve the growth of 10 times in 2011, the turnover of 1.46 billion. By 2012, to further strengthen our team, and in terms of mobile Internet, our market share rapidly rising, and so achieve the growth of 3.8 times, in 2012 the overall volume is 5.55 billion. But we are in the whole group buying market share is not more than 30%, is still a very small proportion.

in the past three years, we are going very well, in a common effort, has obtained the very considerable prospect. But at this point in time, we look forward, will know we are still very small a thing before. I remember very clearly, on March 4, 2011, namely the regiment launched a week conference, which is we first put forward “overdue return” consumer protection plan meeting, I communicate with you, may be some people remember, then I think the things the size of 90 billion. Now looking back, the past two years, deepened our understanding of the industry, before we know it seems very crazy, estimates that is now looking at a thing is very, very conservative.

things progress faster than everyone’s imagination, 5.5 billion sounds like a very big number, but it is just a small. We can to understand the things from many Angle, there are 1.3 billion people, 5.5 billion mean, spread to everyone only 4 dollars. Everyone a listen to is definitely up, for the local service, 4 yuan can’t do anything at all. And we give consumers more better and cheaper to eat drink to play, is that everyone needs to play and eat, today, nearly half of people use the Internet, we have reason to believe that over time, as our service further, everyone can use the Internet, mobile Internet way to enjoy the beer and skittles services they need, so this is a trillions of the market.

from another perspective, we made 5.55 billion before us, and we know that last year’s double tenth day a taobao Tmall promotions made 19.1 billion, taobao Tmall development very well, their main is doing the commodity electronic commerce, we have every reason to believe that the service of electronic commerce is a completely as commodity scale of e-commerce market. It can also be seen in another report, if you focus on the macro situation, you can see that in 2012 the national GDP and the distribution of each industry, I believe that 2012 is the third industry production value is less than the second industry output value last year. The third industry is the service industry, with the second industry industrial output gap in rapid reduction. Starting this year, statistics report will be the third industry, service industry output value is greater than the second industry, and America just do is the third industry, is the e-commerce services.

here, I want to say, just after we appreciate all the things, in fact, we would also like to thank this era has given us this opportunity, if there is no Internet, no mobile Internet popularization, we have no method to reach consumers, if not the whole of China’s economic development, especially the development of daily consumption, we will not have a rich soil, all of our efforts, all of the work including innovation actually is big in the soil, to thank this time.

we look down, this is an overall plan, we hope Meituan volume can reach 18.8 billion in 2013, compared with 2012 is 3.4 times of growth. This is a very worth aiming for, but not unreachable goals, on the contrary, it with us before, or a moderate conservative goals. In January 2013, our sales have reached more than eight hundred million, a joke, even if we do not progress this year, 12 months will be more than ten billion. In the past year we have overfulfilled the goal, the development of better than we expected.

today we drove a convention, is also the third Meituan anniversary celebration. We look back at the past three years, also want to look to the future three years. So, I want to share with you the other one goal: 2015 Meituan should achieve the goal of the year one hundred billion.

one hundred billion, 2015, one hundred billion is what meaning, difficult? Sounds like a very big number, but it’s not out of reach, because it is difficult to imagine things, as long as you put it down, decomposition, decomposition again, then someone responsible for each step of the way, have a team, everyone, the whole thing is. If we put one hundred billion down slightly, will find that as long as we successfully completed the goal of 18.8 billion this year, back in 2014 and 2015, an average of only 140% a year, which is 2.4 times per year, to 2015 can be successfully completed one hundred billion goals. Growing at 140% a year, this is much slower than in the past few years we all Numbers. As long as we don’t make mistakes, as long as our products more deeply, more rich, product selection can always guarantee the high quality, low price, guarantee is very convenient, we will be able to accomplish this goal. Because consumer demand is so strong, and the merchant’s demand is so strong, we have reason to very rapid growth.

attention to look at my title is “from the group’s three years to O2O decade”, in the first decade of this century is a traditional e-commerce booming, ten years at the beginning of 2010, as the group development, O2O really start. So, I believe that the second decade of the century is a decade of O2O, and group purchase because very good agree with the most important characteristics of O2O trading online, offline consumption, so it is a very good start. With three years to the past, we compared to the original, from the initial opening only a city, only one a day, every single day, now has a lot of changes have taken place. We now have 94 city, every single can put a lot of day, for a businessman can have multiple solutions, we have tens of thousands of single online at the same time, consumer choice is more and more rich. As long as we walked along the “more, better and more cheap beer and skittles” the direction to do, the most abundant choice to consumers, to ensure that the low price, of service and a variety of convenient methods, including PC, including mobile phones, this is a O2O the best place to start. So we grasp the O2O ten years, we have to have confidence in myself.

after three years of efforts, we have made very good progress, at present we have 40 million customers, 200000 merchants, moreover, there are more customers, more merchants before waiting for us to develop. Then we bold look to this decade, namely O2O before the end of the decade, we hope Meituan in what position?

in 2020, when the O2O before the end of the decade, can I believe Meituan annual turnover of more than one trillion. This is also a seems to be very big, unreachable goals, but is just put it down, and then someone to implement each step of the way, it won’t be so difficult. I share with you the most simple way of calculation, from one hundred billion to one trillion is ten times, if we give yourself time to five years, are only grew by 60% a year, or 1.6 5 power can achieve more than 10 times of growth. When the size of the third industry is the trillions, five years later when the Internet popularization, further improve the consumers to further improve the popularity of mobile Internet, we have no reason to don’t believe the industry will be a huge industry. And as the industry leader, we will through our efforts, through our innovation, through I continue leading all aspects of the service.

we want to be worst O2O platform, so by the year 2020 comes, we have reason to believe that we should set the goal in more than one trillion above. So, this is the goal, the goal regardless of grand grand, actually you want to break it, you can understand it, and I believe a higher goal will be has incentive effect to everyone, this is one of the largest feeling to me for the past three years. In the beginning, frankly I think I am very optimistic, but I didn’t realize that consumer demand is so strong, O2O this things so quickly, and our team is so. So, at this point in time, I believe that we have every reason to pride, there is reason to pride, but we also have reason to see there are a long way before, more space.

O2O decade will is doomed to be a cow force and helpless painful ten years. Cow force, because it will be very, very big, the third industry more than the second industry? The Internet will greatly affect the matter. So, O2O this thing is very big, will be very newbier. But, on the other hand said helpless pain, because, as you know, we, no matter where a department which one link, the competition is very fierce, consumers and businesses a variety of needs, and this thing is doomed to be a requirement for high quality, low price, there is also a very important factor is the low margin. We need in each link through everyone’s efforts, through the adjustment of the whole structure, by improving the management through the innovation of product technology, improve efficiency, reduce cost and provides consumers with higher quality and lower prices of services.

here, we have to remember a word “you have confidence in the future, you are now the patient”, may be the next one year, two years, three years, will be very tough but painful. But we want to do is very light, has great prospects, I want you to like me very confident about the future, is very patient with now.

the third point, about the talent and growth.

I repeatedly stressed that “man is the most important product Meituan, is also the biggest Meituan assets”. Because we don’t have factory, warehousing logistics center or other large-scale fixed assets, all of our asset is people. So, we want to achieve the goal, the most important input will be on top talent. We need to hire better people, needs and provide better training for all the people, and better incentives, everyone got a better growth. So, at this point, I would like to thank colleagues present, not only include those who worked with us, but has left colleagues.

we always believe that, man is the most important assets, and the most important product. So, we will do better in this place, more employment, more on the cultivation of talents. When everyone has a better development, the company can better development, to achieve all our goals, merchants and consumers to mass of the platform in the United States use O2O way to get what they want – consumers get more, better and more cheap beer and skittles. Merchants can bring guests by us, to make money. nullnullnullnull