Legend Of Ji Qi: Launched The Company On NASDAQ Three Times In 10 Years

From "Made in China" to "Service in China", China needs to vigorously develop domestic demand to transform its economy, and service will become the next growth point. This is the right time for Hanting to go public.

On March 26, Hanting Hotel Chain was listed on the NASDAQ Stock Exchange, with a financing amount of 110 million dollars. On the first day of listing, it closed at US $13.92, up 13.63% from the offering price of US $12.25. This is also the third economic hotel chain group to land on the US stock market seven days after Home Inn. At the same time, its listing means that Ji Qi, as the co-founder of Ctrip and Home Inn, has sent the company to the outside market of Shanghai for the third time as an entrepreneur, which itself has become a legend of Chinese entrepreneurs.

As of yesterday's closing, the share price of Hanting was $14.75, up 20.4% from the issue price of $12.25. Its market value reached $130 million, equivalent to about 900 million yuan. According to the calculation of 62.67% of the shares held by Ji Qi, the value of his personal shares reached 83.19 million US dollars, equivalent to about 570 million yuan.

Ji Qi and his Hanting have become the focus of the media and investors. At the media communication meeting for the listing of Hanting, Ji Qi, known as serious and powerful by the outside world, showed another image in front of the media. Ji Qi answered questions from the media calmly. The act of taking off the tie during the conversation made the reporters present appreciate Ji Qi's easygoing and unconstrained personality. This is consistent with his partner IDG Capital founding partner Xiong Xiaoge's evaluation of Ji Qi.

Sharing resources with Ctrip can reduce costs

Hanting is similar to Home Inn and 7 Days Inn, and has a deeper origin with Ctrip. Ji Qi, the founder of Hanting, is the co-founder of Ctrip and Home. Just before the listing of Hanting, Ctrip (NASAQ: CTRP) announced to acquire about 8% of the shares of Hanting. The cooperation between Hanting and Ctrip has increased Hanting's leverage in the competition of economic hotels.

Ji Qi, executive chairman of Hanting, said that Ctrip is the most knowledgeable intermediary in the tourism industry for the cooperation between Hanting and Ctrip. It knows how to choose hotels, and Ctrip has unique understanding of the industry and its choice. Through Ctrip's industrial culture, Hanting will be able to better understand Ctrip's star rating standards for star rated hotels, so that Hanting will continue to grow. In addition, cooperation with Ctrip can share resources, reduce costs and increase profits for enterprises.

10 years of entrepreneurship: three times to promote the company to NASDAQ

In 2003, Ctrip, founded by Ji Qi, was listed; In 2006, as the founding CEO, he pushed Home Inn to go public. Today, Hanting Hotel successfully launched its overseas IPO. Ji Qi has created three companies in 10 years, and these three companies are listed on NASDAQ in the United States. Because of such a brilliant record, Ji Qi is called by the media as the "Godfather of Entrepreneurship". According to the view that investment companies often say "investment is investment", Ji Qi has become a legend in the venture capital industry.

In Ji Qi's view, the market potential of China's economy hotels is still very large. Ji Qi told reporters that many start-ups are mainly a challenge to himself. The establishment of Ctrip has made him have enough wealth, and the establishment of Home Inn is another hotel he worked in during the work of Ctrip. Ji Qi took out all his savings to do Hanting, and will do it as a lifelong business. Ji Qi firmly believes that many of the world's largest companies will be born in China's service industry in the future, because China's service industry market is the largest, and any enterprise with the largest scale is likely to become the world's first.

Joined hands with IDG three times: friend and investor

Behind the listing of Hanting, Ctrip and Home Inn, there is a common venture capital: IDG. In addition, IDG was settled in the first round of financing. Xiong Xiaoge of IDG has witnessed the overseas listing of companies led by Ji Qi for three times. Xiong Xiaoge and Ji Qi are friends in life and business partners. Xiong Xiaoge said at the media conference in Hanting that he came to attend the press conference in Hanting mainly to make up for an agreement between him and Ji Qi.

When Ctrip and Home Inn, founded by Ji Qi, went public, Ji Qi did not ring the bell on NASDAQ, but the listing of Hanting was originally arranged by two people to go to NASDAQ together to ring the bell for the listing of Hanting. Xiong Xiaoge's failure to make an appointment made this appointment a failure. Therefore, Xiong Xiaoge hurried to meet Ji Qi at the media communication meeting for the listing of Hanting in Beijing to jointly congratulate the listing of Hanting.

It is very difficult for Ji Qi, a successful Chinese company with the same CEO, the same hotel business, and the same local listing. Ji Qi did it and created a myth.

China's service industry will usher in new development

What inspiration does the listing of Hanting Hotel Chain have for China's economic transformation? In Ji Qi's view, the biggest inspiration is that China will usher in the rapid development of the service industry. A number of service industry brands from China will be listed in succession and grow into world-class brands.

This is also in line with the trend of China's economic transformation. As the "factory of the world", China has encountered great obstacles in this round of global financial crisis. Due to the shrinking global market demand, China's exports have suffered a serious decline. It is unrealistic to expect exports to drive economic growth. China's economy is facing a transformation, that is, from an export driven economy to a consumption driven economy. Compared with developed countries, China's service industry still has much room for development and faces unprecedented opportunities.

At the same time, China has always lacked world-class service brands. The proportion of service industry in GDP not only lags behind European and American countries, but also lags behind developing countries such as Brazil and India. Considering that China has the largest consumer market in the world, it is very abnormal that China does not have some world-class service brands. Therefore, the development space of China's service industry in the future will be very large. McKinsey's research report also shows that China will face an upgrade from "Made in China" to "Service in China" in the future.

With the rapid increase of population mobility in China, China's service industry will face a new wave of development opportunities, among which the first one is economic hotels and related service industries.

Xiong Xiaoge is also very optimistic about the listing prospect of Chinese service brands in the future. He believes that if from 2000 to 2009, Chinese companies listed in the United States were mainly Internet and new energy companies, then in the next 10 years, China will have a large number of service concept companies listed in the United States. This is also a sign of the success of China's economic transformation.