Shulou(Shulou.com)06/02 Report--

A fierce new crown pneumonia epidemic "knocked open" the door to 2020.

In the fight against the epidemic, major Internet enterprises show their own magic power. Ali Health and Ping An good doctors have opened the entrance of "online consultation" one after another;12306 uses the big data of ticket sales to track the close contact information of confirmed patients on the train number; USTC Xinfeld applies AI technology to help primary medical institutions screen cases...

As one of the Internet listed companies, 2345 Group starts from message dissemination, launching epidemic map, latest progress, material donation, epidemic anti-rumor and other related functions in its PC product matrix and APP fleet system. At the same time, along with the resumption of work and resumption of school, employees were organized to telecommute at home on February 10, and the kernel of 2345 accelerated browser and automatic blocking advertisement function were upgraded, so as to reduce the problems of video jam, slow loading and compatibility of online class platform.

From the stock market performance to see, affected by the epidemic, online medical care, online education and other related enterprise stocks continued to rise. However, this surge "wave" has nothing to do with 2345, it is still in a state of tepid or even declining.

On February 3,2020, it opened at 2.84 yuan on February 3,2020, down 10.13%, closing the limit. According to statistics, 2345 has not been on the Dragon and Tiger List in the recent month. Even worse, since its listing in 2014, its share price has been "falling." Obviously, although the 2345 company, which once relied on the "2345 browser," has not fallen down, it has already struggled desperately...

all the way

Turn back the clock to 2005.

That year, China was ushering in the "third wave" of the Internet, and the second wave of entrepreneurship among domestic Internet companies was on the rise. According to public information, in addition to BAT, most of the mainstream companies in China's Internet field started between 2005 and 2009, and Internet products led by Douban, 58 Tongcheng and Qihoo 360 blossomed.

Thanks to good external conditions, the newly founded 2345 Group took off quickly only with a product called 2345 website navigation (www.2345.com). According to official information, as of 2011, the website has more than 20 million daily independent visitors and more than 60 million page views. According to Google's "TOP 1000 list of global websites in September 2011", 2345 URL navigation ranked 75th in the global website and 22nd in China.

Then, after 2345 Group looked at the "track," combined with its own resources and experience, it launched the first offline promotion alliance "2345 Ace Alliance" in China, followed by derivative development of 2345 good pressure, 2345 browser, 2345 picture king, 2345 security guard, 2345 ace input method and other software, 2345 scenery for a while.

After obtaining a certain market position and user base through the product matrix, 2345 is also preparing to break into the capital market like other players.

In June 2014, the company successfully borrowed the shell on 2345 and was listed on Shenzhen Stock Exchange under the name of "the first share of the Internet," with the trading code of SZ002195, officially listed on the sixth A-share market. At the same time, 2345 saw a windfall windfall_Internet finance.

On 2345, the cash loan platform "2345 Loan King" was launched quickly to vigorously expand the cash loan business. With the strong ability of cash loan to "suck gold," the financial report of 2345 has been dazzling all the way since 2015.

Between 2015 and 2017, revenue from the financial business grew 230 times in 2345, according to the company's earnings report. Among them, in 2017, due to the rapid development of Internet consumer finance business, the total operating income of the company increased by 85.41% year-on-year to 3.23 billion yuan, the operating profit was 880 million yuan, an increase of 36.77% compared with the same period last year, and the net profit attributable to shareholders of listed companies increased by 46.72% year-on-year to 930 million yuan.

By the end of 2017, 2345 has basically formed the development of mutual funds and promotion of relevant financial products around the three directions of personal consumption finance, automobile consumption finance and commercial finance. Not only that, after touching the Internet finance business on February 345, its share price once soared to 112.75 yuan per share, and became a benchmark enterprise in the mutual gold industry.

However, things always have two sides, and the hidden risks behind the rapid growth are gradually exposed.

According to official information disclosure, the rapid development of Internet consumer finance business dominated by "2345 Loan King" led to a substantial increase in the amount of loans and advances, resulting in a corresponding increase in the bad debt losses borne by the company to 966 million yuan. From 2016 to the first half of 2017, the bad debt rate of this business increased to 3%.

In addition, 269 million yuan of bad debts were "sold" to Guangxi Guangtou Asset Management Co., Ltd. at a price of 5.283 million yuan on February 345, involving 185,100 loans. With this write-off of bad debts, the bad debt rate for the whole year of 2345 2017 is actually close to 4%, and its specific bad debt amount is almost equal to the total revenue of Internet finance business in 2018.

The pace of regulation followed. On December 1,2017, the leading group for special rectification of Internet financial risks and P2P online loan risks issued the Notice on Standardizing and Rectifying "Cash Loan" Business. It is clearly required to strictly standardize the management of network small loan business, suspend the issuance of network small loans without specific scenario support and designated purpose, gradually reduce the stock business, and complete the rectification within a time limit.

This new regulation has hit all relevant platforms in the industry, including 2345. According to media reports, most employees were persuaded to quit when the cash loan business was suspended on February 345, and nearly 100 employees were persuaded to quit.

I have to admit that cash loans did create a "myth" for 2345 in a short time. Unfortunately, a myth was just a myth. The company indulged in the "sweetness" brought by cash loans and lacked the ability to perceive crises, resulting in such vulnerability when the crisis of high bad debt rate hit.

The huge loss of bad debts "woke up" 2345, after the release of the new rules, it resolutely cut off high-interest cash loans. In line with the idea of staying green mountains without fear of firewood, a new round of business transformation began on February 345.

Dream Broken Block Chain

"Take off" the coat of cash loan, panic 2345 anxious "jump into" a hot blockchain field.

At the beginning of 2018, the proportion of Internet information service revenue will be increased from 36.84% in 2017 to 66.43% in 2018 from the revenue structure. Subsequently, 2345 (Shenzhen) Blockchain Technology Co., Ltd. was established, and then "2345 Blockchain Scheme White Paper 1.0" and "2345 Planet Alliance Plan" were released, aiming to create a platform for users to gain incentives through behavior based on blockchain technology, and to issue a bold statement to the outside world: "Join the Planet Alliance, you can make money online."

At the beginning, the blockchain dream of 2345 developed well. It is reported that the blockchain private cloud disk "Octopus Planet" owned by 2345 was sold out in only 12 seconds on the official website launch day. By the end of March 2018, the number of people who ordered the product through the official website reached 1.81 million, and its price soared from the initial 999 yuan to 1299 yuan. Then, the product also appeared on Jingdong crowdfunding platform, breaking through one million yuan in 3 seconds and completing the crowdfunding target of 10 million yuan in 56 minutes.

This success is also reflected in the financial results. The 2345 financial report shows that in the first half of 2018 alone, 2345 achieved revenue of more than 1.18 billion yuan in the Internet information service sector (including 2345 planet alliance), an increase of 127.95% compared with the same period of the previous year. In other words, 2345 made huge revenues through the 2345 Planet Alliance program in just a few months.

However, the good times did not last long, and the doubts of 2345 came fiercely.

In December 2018, several agents and individual users of Octopus Planet (hardware terminal products under the Planet Alliance ecosystem) came to Shanghai headquarters on 2345 to defend their rights, claiming that Octopus Planet was suspected of false propaganda. The agent reported that at this time, the sales director who was originally responsible for interfacing with the agent had left, and there was no successor to approach the agent for business and ask for a refund.

Han Meng, founder of 2345, saw that the "mining game" could not be played, and finally chose to give up. In the official website product service page, Planet Alliance APP under the shelf about all products and related introduction information of Star Coin.

Although the block chain "game" of 2345 is over, it can't help but make people think deeply. There are many players involved in the block chain, but why does 2345 end up like this?

Looking back at the reasons why the company first got involved in blockchain, founder Han Meng once said: "(Planet Alliance Project) can build a platform layer, first acquire a large number of users through Planet Alliance, then build a virtual city and ecological platform with tens of millions of people living every day, and then introduce more product requirements. "

It is not difficult to see from the words of founder Han Meng that on the surface, the layout of blockchain in 2345 is to "absorb" and maintain the number of users, but in fact it is to find profit growth point. However, their own technology and risk control capabilities are not in place. Therefore, when the tide receded, the embarrassment of "naked swimming" appeared again on 2345.

After all, whether it is "octopus planet" or so-called blockchain star coin, it reflects that the understanding of blockchain is not clear and the implementation is not in place in 2345, and the natural result is doomed to failure.

2020, how to break the game?

After a series of business failures such as cash loans and blockchain, the problem of transformation is once again in front of us. However, what else could a defenseless 2345 break through? The answer: users and traffic.

First, the user base of 2345 is large and the growth rate is high, which builds a good "culture medium" for the launch of new products. According to official information disclosure, the accumulated coverage of 2345 series products exceeded 100 million users from the original million, reaching 260 million person-times. According to the Quarterly Analysis Report of China Internet Traffic in Q3 of 2019,2345 browser and 2345 weather king respectively ranked on the growth list of China Mobile Internet in the current season, entering the TOP 50 of the growth rate of tens of millions of APP users. In addition, the report also pointed out that 2345's play-earning planet APP, its last week of October per capita single-day usage compared with the last week of September increased by 6%.

It can be seen that the increase of user growth rate and the increase of usage time have accumulated a large number of user groups for the transformation of 2345, which is not only conducive to the promotion of new products or businesses, but also conducive to expanding their own market share. On the other hand, it also reflects that complaints such as frequent pop-up advertisements, which have long been complained about, have been greatly improved, which is also a key link in the 2345 Transformation Bureau.

Second, 2345 use flow advantage and science and technology gene to dig artificial intelligence "blue sea." According to the report of "2019 China Artificial Intelligence Industry Development Index," the development of domestic artificial intelligence industry has stepped into the fast lane in 2019, accelerating the penetration of multiple application scenarios and becoming an important driving force for promoting economic and social development. According to other data disclosure, it is estimated that the market scale of artificial intelligence industry in China will exceed 110 billion yuan in 2023, and the scale growth of radiating and driving surrounding industries will exceed 100 billion yuan.

The outbreak of the current epidemic situation has greatly activated the scenario application of artificial intelligence technology. AI remote assisted diagnosis, AI image analysis, AI drug research and development, AI temperature detection, AI medical robot, AI case activity track tracking and other forms bloom everywhere, artificial intelligence industry hidden market value is obvious.

2345 started as a website navigation service, with inherent traffic advantages and the ability to develop Internet products and technologies. In 2018, on the basis of the New Science and Technology Research Institute, a large data center team was set up on February 345 and a precision marketing system was put into operation. At the beginning of June 2019, Shanghai Xinyi Intelligent Technology Co., Ltd., which focuses on artificial intelligence solution providers and operation service providers, invested RMB 5000 strategically.

All kinds of signs show that the artificial intelligence industry in 2345 has certain conditions and development potential. As Chen Yubing, the current chairman of 2345, once said: "2345 is essentially an Internet company. Our core advantages are the acquisition and realization of traffic and innovation in new technologies. No matter what the business, we will eventually realize the realization of our traffic advantage. "

Therefore, 2345 revealed in the latest financial report that the company has launched and established the future development strategy of "mobile interconnection + artificial intelligence." In order to accelerate the realization of new strategic development goals, it is focusing on investment in three directions: middle station, intelligent algorithm and large data center.

There's still a fight to be had.

It can be seen from the strategic goal of 2345 that 2345 is determined to develop on the path of artificial intelligence. Is that promising artificial intelligence the way to go? Reality does not seem to be the case.

First, the investment cost is huge and the threshold for technology research and development is high. The launch of a new project, especially one involving technology, requires high capital investment, and artificial intelligence is no exception.

Baidu, one of BAT, is an example of investing heavily in artificial intelligence. Baidu CEO Robin Li once said: "Baidu spends 15% of its revenue on research and development every year, about RMB 10 billion (about US $1.5 billion), and all (R & D) investment is related to AI (artificial intelligence)." "

On the contrary, 2345 is still trapped in the performance decline situation, really worrying. According to the company's financial report disclosure, in the first three quarters of 2019, the operating income was about 2.191 billion yuan, a year-on-year decrease of 10.33%, and the net profit attributable to shareholders of listed companies was about 732 million yuan, a year-on-year decrease of 32.3%.

Moreover, the patent for artificial intelligence research and development in 2345 is zero. According to "China AI Patent Value and Competitiveness TOP50," the list shows that Baidu, which ranks first, has applied for 5712 patents in AI, with an innovation strength score of 97.69. However, there is no figure in the list, and there is no indication of artificial intelligence in the patents published in 2345.

Huge technical expenses and patent problems are a big test for the "blood oxygen" of 2345. In addition, Internet giants such as Ali, Tencent and Baidu are bound to win the artificial intelligence field. There will be a hard battle in the future.

Second, it is difficult to grab cutting-edge talents, and the problem of technology integration remains to be solved. In the competition of artificial intelligence industry, the advantages of top AI talents and team advantages are the strongest competitiveness of enterprises, but AI talents are also the most lacking. According to LinkedIn's "Global AI Talent" report, by the first quarter of 2019, the number of global AI technical talents based on LinkedIn platform exceeded 1.9 million, and the total number of relevant talents in China exceeded 50,000, ranking seventh in the world. At the same time, it is pointed out that the most vigorous and scarce demand for AI talents is AI algorithm, machine learning, GPU, intelligent chip and so on in the subdivision field.

On the other hand, the Matthew effect in artificial intelligence is highlighted, with technology companies such as Google, Facebook and Alibaba spending billions of dollars on average to recruit talent. It can be expected that the pressure on the cash-strapped 2345 to compete with the giant companies is really not small, and it is even more difficult to compete for cutting-edge talents in the field of artificial intelligence.

Finally, AI technologies and products are becoming more sophisticated and sophisticated and are beginning to integrate into people's lives, but policy regulation remains to be improved in the future. In addition, with the issuance of 5G commercial license plate, how to better realize the feasibility and universality of AI and blockchain, VR, AR and other technologies integration is also what 2345 people need to consider.

Write at the end:

It has been 15 years since 2345. It has also hatched many products. It has also dominated people's computer desktops with enterprises such as Thunder. Since its listing, it has been listed among the top 100 Internet enterprises in China for many times. Unfortunately, such a scene was like a flash in the pan. In 2019. Within a year, it quickly dropped 38 places to No.64, setting the lowest "rank" in six years of listing.

Looking at the development process of 2345 Company, whether it is the navigation business that started at the beginning, or the business such as cash loan and blockchain, it is more like blindly following the trend without long-term development planning than the rapid rise of 2345 in the direction of tuyere, so that it is labeled as "where to make money, where there is 2345 figure" in the industry. It is precisely because of the blind obedience of 2345, so that their own stock price, market position, and even revenue performance are affected, long-term ups and downs in the great turbulence.

At present, the market value of 2345 is only 18 billion yuan, which is more than 9.4 times different from the market value of 3601700, its only competitor of A shares. 2345, who was left far behind by his opponent 360, could only explore the vast artificial intelligence field in order to keep himself from falling down. Presumably, facing unknown fields and upcoming challenges, 2345 is still very difficult.

Wen/Liu Kuang public account, ID: liukuang110

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