Pate.com is a self-operated e-commerce company, but GMV is very important.

GMV = sales volume + canceled order amount + rejected order amount + returned order amount, that is, GMV is the sum of paid orders and unpaid orders.

Revenue in 2014 was 275 million yuan, approximately 55% of GMV.

The net profit is not very good, -35.8 million yuan.

Pet.com is in the stage of burning money to increase its reputation. Almost all the goods in the mall are sold at cost price, and there are special offers every day.

The O2O business issues discount coupons and free trial coupons to users every day... burning money like water.

There are still 230 million in working capital, and only 20 million of the 250 million obtained from Series A venture capital have been spent in the past two months.

Zhang Yida knew that Lu Fenghai was a hard-working person and was very economical with money, but this method of saving money was meaningless because it was too slow to improve the platform's data and reputation.

So I sent an email to Lu Fenghai and wrote:

"Lao Lu, you are spending too slowly. You must burn 20 million every month in 2015, and you must burn all the Series A venture capital by the end of the year.

Before December, it will be enough to achieve a monthly turnover of 7 to 8 billion, and then start Series B financing.

Don’t be afraid of burning money, as long as the scale is expanding and the market share is increasing, there will be rich people who will foot the bill.”

Then Zhang Yida started to read Huimin Bicycle's financial report again, and the picture was touching.

Revenue was 20 million yuan, cash loss was 61 million yuan, bicycle depreciation loss was 36 million yuan, and total loss was more than 77 million yuan.

The 720,000 cars built are considered assets and need to be depreciated over 24 months. They depreciate very quickly in the first few months. After being put on the market for three months, they are only worth 70%-80% of the ex-factory price.

The deposit financial management cooperation with Ruimin Financial Management only started in January 2015, and the income was not included in 2014. The only income in 2014 was cycling income.

More than 40 operation centers were built, 150 million yuan was spent on purchasing 800 light trucks for dispatching bicycles, and there is still 168 million yuan in working capital.

According to the financial model, the monthly income in 2015 will be between 40 million and 50 million yuan, the monthly expenditure will be between 100 million and 110 million, and the monthly cash loss will be between 50 million and 70 million.

Zhang Yida was frightened when he saw it, and he thought to himself that if he didn't start a round of financing before March, he would probably go bankrupt technically.

Finally, there is the financial report of Dogford, Zhang Yida’s early cash cow.

Revenue was 45.96 million yuan and net profit was 22.6 million yuan.

Back and forth, Zhang Yida withdrew 5.5 million and 5 million in cash from Dogfud twice in April and July of the year.

Including the remaining 2.6 million yuan invested at the time of establishment, Dogford has a total of 14.7 million yuan in liquidity.

Zhang Yida feels that Dogfud, the cash cow, gives him the most peace of mind. It has never lost money since its establishment, and it also provided considerable financial help when establishing Pet.com and Huimin Bicycle.
Chapter completed!