OFweek smart home network news recently, "for their own endorsement," Chen Europe and fire, but this is not because of Jumei's stock price or performance, but because of Chen's vice business done too much.

After May 5 announced that it invested a total of 300 million yuan in cash to invest in Shenzhen Street, the melons still immersed in the entertainment atmosphere of Chen Ou and Wang Sicong. “Who knows, on May 25, the media passed on?” The news of the resignation of the founding software team of LaiDai Electric. In the following week, the former shareholder Haiyi of the Street Power Company and Yu Haibin, head of development of the original street power, shouted across the Internet, causing the negative news of the street power to continue to burst.

For Chen Ou, the new chairman of Street Power Technology, these things are normal. Chen Ou's response was: "When the tune arrives, the team's employees flow normally and don't need to overinterpret it." It turned out that after Jumei's injection of street power, Jumei's management had identified some senior executives, such as inviting former Ali. Piao ticket director Yuanyuan served as street CEO...

Investment sharing Baobao, investment Baobao's core patent... Chen Ou said that Jumei Youpin has no cap on the investment of the project, and will continue to inject billions of funds in the next three months.

This sideline has made a lot of enthusiasm. However, as the owner of Jumei Youpin, Chen Ou seems to have snubbed his main business, but Jumei Youpin has not been very good recently, and it can even be said to be dismal. Chen Ou does not want to continue to “speak for himself”?

Why are you not playing?

In that year, Chen Ou’s phrase “I speak for myself” has made the popularity of Jumei Premium Products soar. After successfully landing the New York Stock Exchange in May 2014, Jumei Youpin became the first vertical beauty makeup e-commerce company to be listed in the United States. After that, the company's share price rose. In August of the year of listing, its share price reached a historical high of US$39.45. For a time, Chen Ou can be said to be infinitely bright.

However, the scenery is apt to die. From the third quarter of 2014, Jumei's performance began to decline. By the end of 2015, Jumei's stock price had fallen to US$10. However, the 10 knife is still not the end of the decline. By the end of January 2016, Jumei’s stock price was only less than US$6.5, which was a drop of 84% in one year and a half compared to its 40th knife during its peak period.

As for the continuous decline of stock prices, Chen Ou felt that Jumei was seriously underestimated, so on February 17, 2016, he announced the start of the privatization process. The privatization price was US$7. At the time, Chen Ou said that privatization would help the company to be more flexible during the transition and enable the company to better cope with transformation and competition.

However, the initial issue price for your IPO was 22 US dollars! The privatization price of Jumei 7 knife did not receive the support of shareholders, but attracted dissatisfaction and shelling. For a time, the angry shareholders even changed Chen’s “spoken for himself” to “a shameless endorsement”, and Zhu Shahu, the managing director of Jinsha Jiang, directly called “Chen Qi” in the circle of friends. In the end, due to the strong dissatisfaction of many small and medium shareholders, the privatization of Jumeimei failed.

The main business did not hold on, and the popularity was also scattered... In the course of a year-long privatization, Jumei began to fall apart. In April 2016, the two joint CFOs Gao Meng and Zheng Yunsheng both left. In early May of 2017, according to the 20-F filing submitted by Jumei Youpin to the US SEC, Xu Xiaoping and Evergreen Evergreen also disappeared from the list of Jumei Youpin’s major shareholders, which means that they have significantly reduced their positions or even All clearance cash out of the game.

Then I'm going to be out of business!

Faced with the failure of privatization, continued declining stock prices, and the shrinking market value of Jumei Premium Products, boss Chen Ou does not seem to have come up with a decent method to save the tide. He was busy developing new business, and the main industry e-commerce did not improve, but the sideline did a lot of work.

Otherwise, first engage in movies and television. In early 2016, Jumei announced the establishment of the film company “Jumei Film and Television” in an attempt to obtain a large amount of traffic through the fan economy, thereby saving the decline in performance. However, more than a year has passed since its establishment, Jumei Film and TV Group has still failed to produce a decent response, and has invested in and participated in productions of TV dramas such as “Warm Strings” and “Summer Tree Paradise”. Waves. And Chen Ou himself is frequently appearing in various variety shows, hoping to use this to increase the exposure, to stimulate the United States and the United States and the United States and the United States and excellent products e-commerce business, but do not mix eggs.

Perhaps smart home is a direction. On April 26, Jumei announced its entry into the field of smart homes and established the independent brand "Reemake." Jumei announced the launch of two air purifiers, Reemake Air One and Reemake Air One Plus. Chen Ou said that the two air purifiers will focus on high-performance, high-value, intended to explain that it is a part of the economic value of the economic circle, but this explanation is too far-fetched.

The long haze of northern cities is a business opportunity, but it is also the Red Sea of ​​air purifier manufacturers. At present, the traditional air-exchange filtration products have been established, and the market pattern has long been established, and the new-style products are the areas with higher technical thresholds. In front, there are Philips, Samsung, Panasonic, and the United States and other established home appliance manufacturers standing behind, followed by millet, cheetah mobile and even hammer Internet companies to catch up on the beach, the United States started the electricity supplier in the manufacturing industry is clearly an out-and-out white.

Nowadays, air purifiers are relatively standardized products, and their technologies, structures and principles are relatively mature. Jumei does not have any accumulation of upstream and downstream industrial chains. The most important part of smart hardware is the control of supply chains. There are countless Manufacturers fell on the supply chain. How can the latecomers like Jumei have much room for survival? Choosing to enter the game at this time is worrying about the ability to gather business opportunities in the United States.

Well, the sharing economy is not very hot? In May, Chenou set his sights on the field of shared charging treasures and spent RMB 300 million on street power. However, this investment is not favored by the outside world. For this reason, Chen Ou and Wang Sicong, the son of Wanda, have also staged a good show for each other and led to the gambling of “Eat Cheung”.

Chen Ou's shared charging treasure road did not go smoothly (at least for the time being). Opening and tearing after the departure of some of the senior management team led to public opinion negative comments on the street power shareholders, at the same time, because of this series of turmoil, Jumei stock prices ushered in another plunge.

On Tuesday, the US stock market plunged more than 9% within a short period of time in the United States, and the transaction volume was significantly enlarged. As of Tuesday's close, Jumeiyou shares plunged 8% on the New York Stock Exchange to close at US$2.76, setting another record low.

For some recent investment projects, Chenou is full of confidence and said that “Jumei Youpin has no cap on street power projects and will continue to inject billions of dollars in the next three months.” Although Chen Ouxu Words, but can Jumei come up with so much money?

According to the latest financial report of Jumei Youpin, as of June 30, 2016, Jumei Youpin held approximately RMB 2.8 billion (RMB) in cash and cash equivalents. If you really like Chen Ou, put it into billions of dollars? This still has to be recalculated. Whether it is to put all the money in cash or find other funds to spur street power, the high-risk consequences of Jumei can bear it?

Whether it is the earlier sharing of bicycles or the shared charging treasure of today's virtual fire, the industry is still in a state of desperately burning money, and no company is truly profitable. How long does the net worth of wealthy Jumei can persist in such a war of burning money? If it is unsuccessful, it will be like a charity like Chen Ou? Is this kind of speech a child's play or another form of endorsement?

Where should we go in the future?

The failure of privatization, the cash withdrawal of shareholders, and the lowest stock price are only lower. Now Chen Ou does not seem to worry about the plight of the main business, and it is not even mentioning it in public.

Indeed, it is understandable that a company faces difficulties and seeks to diversify its development and seek breakthroughs. However, all this is based on its own core competitiveness. Today, Jumei has no diversified capital.

According to the latest data provided by Yiguan Qianfan, the active users of Jumei Youpin have seen a continuous decline for two months, and the number of active users is far lower than that of only VIP Club and Pinto.

At present, for Chenou and Jumei's team, regardless of the prospects of film and television, air purifiers, and shared chargeable treasures, please do not forget that your main business is still Jumei Youpin, and its accumulated market value has fallen more than now. 90%, in this case, the most important thing is to try to save the e-commerce main business dilemma, rather than holding the investor's money to do what they think "flip".

Watching the United States continue to open up a new battlefield, reminds me of blindfolded LeTV, the only difference is that the original LeTV has more money (and potential) than the current United States, when the bubble disperses, what will leave behind A scene, Chen Ou can think about.

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