China'S Top 100 E-Commerce Enterprises List Released In The First Half Of 2019

In August 26th, 100EC.CN, a well-known think-tank in China, published the list of top 100 e-commerce enterprises in China in the first half of 2019.

The data from the "top 100 electricity supplier list" came from the large database of "electronic treasure", which is based on the market value of China's electricity supplier listed companies (up to the last trading day of June 28, 2019), and the valuation of the "unicorn" company (up to the first half of 2019 years). Data analysis and research were carried out to cover four major areas, including retail electricity providers, B2B providers, cross-border electricity providers and life service providers (not counting online education and online medical treatment).

It is reported that the lowest threshold of the company's total value (market value or valuation) is 2 billion yuan (the same below). In addition, in July, the newly listed shares of the League of nations, three squirrels and the market worth buying were all higher than the 2 billion yuan of the threshold of the list, and the market value rose significantly after the listing. Therefore, the IPO value of the above cities was counted in the list. In addition, valuing 1 billion yuan to 1 billion US dollars, the "thousand mile" business enterprise, because the public disclosure of data is less, it has not been counted.

The list data show that in the first half of 2019, the total number of top 100 e-commerce enterprises was 5 trillion and 820 billion yuan. Among them, the total value of retail business is 4 trillion and 340 billion yuan, the total value of life service business enterprise is 1 trillion and 250 billion yuan, the total value of B2B business enterprise is 163 billion yuan, and the total value of cross-border electricity supplier enterprises is 73 billion yuan.

　　 The top 46 household electrical appliance companies listed on the top 100 list of electricity suppliers are ranked by market value. 58, the same city, vip.com, no worries, Ruicheng coffee, Antarctica, electricity, treasure, electricity, harrow travel, gathered, Gome, retail, shop, Lok, cross border, cat eye entertainment, Shanghai Steel Union, Zhuo Er Zhi Lian, micro union group, Huading stock, contact and interaction, China praise, Guan Fu shares, baby tree group, business treasure, Tian Ze information, gleth, Yexin, three squirrels, focus technology, royal home exchange, Huicong group, 1 drug network, Qi Yi technology, League of nations shares, road cattle, cortone core city, temple library, Guang Bo shares, mogujie.com, it is worth buying. Alibaba, US group review, Jingdong, millet group, many spans, Ctrip, suning.com

　　 The top 54 "unicorn" e-commerce providers listed in the top 100 list of electricity suppliers are ranked according to the valuation level. 滴滴出行、瓜子二手车、美菜网、大搜车、汇通达、首汽租车、万达电商、爱回收、曹操专车、ofo、小红书、淘票票、每日优鲜、中商惠民、土巴兔、找钢网、途虎养车、孩子王、良品铺子、谊品生鲜、欧冶云商、曹操出行、微店、贝贝集团、口袋购物、辣妈帮、ETCP停车、百果园、客路旅行、我买网、驴妈妈、易久批、易果生鲜、斑马快跑、蜜芽、首汽约车、艾佳生活、要出发、1919酒类直供、执御、人人车、返利网、车置宝、便利蜂、波奇网、车猫二手车、车易拍、酒仙网、卷皮网、转转、洋码头、婚礼纪、58到家、马蜂窝。

According to Cao Lei, the director of the electronic commerce research center of the well-known e-commerce think tank network in China, the director of the electronic commerce research center in the first half of 2019, the list of the top 100 e-commerce enterprises in China is undoubtedly the most excellent "head platform" for the current China's e-commerce platform, and the data used in the list are objective data from the capital market and the publicly disclosed investment and financing market, which is highly authentic and widely representative, so the list has strong authority. Recently, the State Council issued the "guiding opinions on promoting the healthy development of platform economy". The suggestion put forward that we should optimize the platform economic development environment and promote the healthy development of platform economic norms. The policy is favorable to the development of e-commerce platform.

　　 After deeply studying the top 100 electricity supplier data, Cao Lei pointed out the following seven characteristics:

　　 First, the overall scale continues to rise, becoming a new engine for China's economic development.

In the first half of 2019, the total number of top 100 e-commerce enterprises was 5 trillion and 826 billion 233 million yuan, accounting for 12.92% of China's GDP of 450933 yuan in the first half of the year. The overall scale of e-commerce has been rising steadily, and has gradually become a new engine for China's economic development, and also an important engine of the digital economy.

In the top 100 list of electricity suppliers, there are 46 listed electricity supplier enterprises and 54 Unicorn enterprises. Although unicorns are ahead of the listed e-commerce companies in terms of quantity, the "oligopoly effect" of the unicorn companies is even more significant from the total value distribution, with only 1 enterprises valued at more than 100 billion yuan. On the contrary, the total number of listed electricity suppliers in the total value of 50 billion yuan or more accounted for 90%. The strong market competitiveness of the listed electricity providers is mainly due to the expansion of the profit model promoted by the abundant cash flow advantage. Sufficient cash flow to support a subsequent series of business expansion and industry mergers and acquisitions, continue to extend business to other related fields, such as finance, logistics, advertising, cloud computing, technology, urban, government affairs, and ultimately form a "flywheel effect", Alibaba and Jingdong are the most typical.

It is noteworthy that we found a very interesting phenomenon. From 5 billion yuan to 10 billion yuan, from 10 billion yuan to 15 billion yuan, and from 15 billion yuan to 20 billion yuan in terms of the total value distribution range, the number of "unicorn" electricity supplier companies was three times, two times, more than the number of electricity suppliers listed companies. This shows that the "unicorn" electricity supplier is not only strong in quantity and strength, but also has sufficient reserve strength and perfect echelon structure. If the IPO is to be realized in the future, the unicorns will have greater development potential.

　　 Two is the focus of the distribution of electricity providers gathered in northern Shanghang, the first tier cities accounted for over 70%

From the number of cities in the "top 100 electricity supplier list", there are three cities in the first tier tier 10 cities: 33 in Beijing, 22 in Shanghai, and 14 in Hangzhou. There are 5 cities in the second echelons of 2 to 10: 8 in Nanjing, 5 in Shenzhen, Wuhan in Sweden, Guangzhou in the Hongkong and Hongkong in the province.

Judging from the ranking of electricity providers in different cities, the number of the top 100 cities ranked third in Hangzhou, with the total value of 3 trillion and 166 billion 75 million yuan ranking first in the top 100 electricity supplier cities, mainly from the absolute leading volume of Alibaba 3 trillion and 30 billion 49 million yuan market value. As the largest economic city in the country, Shanghai not only has 22 hundred strong electricity suppliers, with a total value of 568 billion 726 million yuan, but also has many spells and 2 C0 billion market capitalization groups.

Beijing has a siphon effect with its strong "suction power" and various resources, information, talents, policies and other advantages, with a total of 33 yuan and a total value of 1 trillion and 656 billion 321 million yuan. 6 of the top 10 of the list are in Beijing, including dripping trips, Group reviews, Jingdong, and millet group, with a total value of over 4 billion. As the most attractive "national e-commerce demonstration city", the largest number of e-commerce enterprises in Beijing and "gold content" the highest, is leading the country's e-commerce development.

　　 Three, the rapid growth of the retail electricity supplier market is the "fresh force" to stimulate the consumer market.

In recent years, the contribution of consumption to economic growth has been increasing, and it continues to be the first driving force for economic growth, and the electricity supplier is expected to become a "fresh force" for promoting consumption. The use of the Internet to upgrade the traditional retail industry through "Internet +" and to integrate online and offline will help to boost the retail industry and play a greater role in promoting consumption. At the same time, online transactions of non physical commodities are showing a rapid growth trend, and the consumption field is also expanding.

Data show that the "top 100 electricity supplier list" in the distribution of electricity supplier segments, retail electricity providers accounted for 74.47% of the total number of 3/4, occupy the total number of listed companies, including Alibaba, millet, Jingdong, many, suning.com, melon seeds used cars, vip.com, Antarctica, big search vehicle group, Wanda electricity supplier ranked the top 100 electricity supplier list, the total value of the retail business TOP10. In addition, 28 of the life service providers accounted for 21.52%, 14 of the B2B electricity providers accounted for 2.79%, and 8 of the cross-border electricity providers accounted for 1.22%.

From the perspective of the development of the industry, as long as the industrial foundation, mode innovation, technology application and user habits that support the rapid development of online retail have not changed, even if the growth rate of online retailing will gradually slow down from the high-speed growth stage to the high quality development stage, the future prospects can not be underestimated.

　　 Four, the industrial Internet is in the ascendant, becoming the next "outlet" of the electricity supplier.

We noticed that in the first half of 2019, the list of B2B companies was 14, accounting for only 2.79%. Among them, there are 8 listed companies, including Shanghai Steel Union, Zhuo Zhi Lian, Guan Fu shares, business treasure, focus technology, Huicong group, League of nations shares, and Koto core city, and 6 Unicorn companies, including: American food network, Huitong Da, China Merchants Huimin, search for steel net, European business cloud business, Yi Long batch. Overall, the total valuation and average valuation of the B2B electric Unicorn listed above are higher than the market value of similar listed companies. This reflects that the valuation of B2B "unicorn" has a big "bubble", while the market value of B2B listed companies is underestimated in the two tier market, which should have great potential for development and investment.

At present, the industrial Internet has entered the draught. The next twenty years will be the golden age of the industrial Internet. The key to winning the battle lies in "serious connections". In addition to maintaining the core advantages of the platform, the industrial Internet must also enlarge the industrial ecology, join hands with more partners to improve the ecology of Internet services, and achieve mutual benefit and win the triple win of the platform, enterprises and the third party. In some ways, the internal driving force of the development of enterprises is technological innovation, and the driving force of the development of enterprises is the industrial Internet. We believe that the biggest market power in the future is undoubtedly from the consumption Internet to the industrial Internet.

　　 Five is 2019 again usher in the "tide of market" A shares listed on the electricity supplier once again "gate"

The "plate" of the electricity supplier listed companies has grown from scratch to less than many, especially the rapid increase in the number of new businesses in the past two years, which highlights the favor of the capital market for this category of "new economy" enterprises. 2019 in the first half of the year, the top 100 electricity supplier list showed that the number of electricity companies listed before the deadline reached 46, with a total market value of 4 trillion and 774 billion 518 million yuan, accounting for 8.18% of the total value of A shares in Shanghai and Shenzhen two cities in the first half of 2019.

Among them, the successful listing of 13 household appliance enterprises in 2018 has set the record of the largest number of electricity providers listed, including the retail business in the top 100 list, Xiaomi, mogujie.com, Zan, baby tree, excellent letter, royal family remittance, 1 drug network and group car, as well as the life service field group comment, Cheng Yilong and Qi Yi Technology.

In 2019, the "listing tide" seemed to be more intense. As of the end of July, there were 8 new listed e-commerce companies, including the gathering of the top 100 list, micro alliance, culvert, three squirrels, worth buying, union shares, Ruixing coffee and cat eye entertainment, all of which went public in the first half of 2019.

We noticed that in 2018, 13 listed electricity supplier companies, except the royal family remittance for A shares, the rest gathered in the US stock and Hong Kong stock overseas IPO, while in 2019 only eight months ago, it was worth buying, three squirrels and the League of nations 3 shares landed on A shares. We predict: with the opening of the "Chuang Chuang board", more business companies will be landing on the A stock and Shanghai and Shenzhen two cities in 2019 to achieve IPO.

The main reason for the choice of overseas listing is that in addition to the VIE red chip structure of many companies, the listing of overseas markets has made the capital market more imaginative and easier to be sought after by capital. In addition, the 8 electricity suppliers listed on the list chose the HKEx to go public. As the most accepted overseas market for mainland enterprises, Hongkong accepted the major reform of the "different rights of the same stock" in 2018, which is the main reason for attracting many "new economy" companies, and become the largest number of listed companies to land on the stock exchange. As a whole, listed companies can optimize their corporate structure by entering the capital market. Both in terms of financing capability and management level, they will help enterprises develop steadily and steadily.

　　 Six, the "unicorn" company has grown rapidly and has become an important part of the electricity supplier.

In the "electricity supplier 100 list", the 54 electricity suppliers "unicorn" the largest number of retail electricity providers, 27, followed by 18 life service providers, B2B electric 6 and 3 cross-border electricity providers. Although there are retail electric providers, the first "unicorn" melon seeds used cars - the valuation of 61 billion 803 million yuan, but because the retail industry as a whole is relatively small profits, so the value of 327 billion 82 million yuan in the field of life service providers. The "unicorn" of life service electric business relies on "animal head" to travel 384 billion 552 million yuan, and the total value of 575 billion 544 million yuan is the first in the field of "unicorn". In addition, B2B electric business "unicorn" total value of 114 billion 754 million yuan, third; cross-border electricity supplier "unicorn" 34 billion 325 million yuan total value at the end.

Retail business "unicorn" in the future by expanding business to enhance valuation has become an inevitable trend. For example, Beibei group, which was founded by the mother and infant electric provider Beibei network, has built a series of platforms such as Bei Dian, Bei Bai, and friends group to meet the diversified needs of consumer, entrepreneurship, finance, community services, and so on, and initially formed a "closed loop".

As the fresh electricity supplier "unicorn" daily bright future will optimize the cold chain logistics, through the creation of "capillary" to promote the coordinated development of multiple scenes. New technologies, new industries, new business models break out of cocoon and traditional industries are reborn, providing opportunities for the birth of a large number of "unicorns". We believe that the birth of the electric unicorn is closely related to the industry's heat, policy support and development trend.

　　 Seven is the difficulty of raising capital cold financing, electricity providers "cold winter" quietly.

2019 in the first half of the year, the top 100 companies on the list of businesses, such as love recycling and freaky mom, are getting financing. According to the database of the electronic commerce research center, "electronic data treasure" database, in the first half of 2019, a total of 225 financing events were monitored in the domestic electricity market. The total amount was 41 billion 110 million yuan, down 39.35% and 60.80% respectively. In the first round of financing, e-commerce investment and financing in the first half of 2019 basically concentrated in the A round, angel wheel and B round, which means that many platforms are emerging. At the same time, investment and financing become more and more difficult at the later stage, and the survival of the fittest will test the maturity and development of the business mode of the platform.

"Wave of the sand", we found that: the list of companies on the top 100 companies in this year's capital cold season is more and more "cold winter, Ao Mei counter trend bloom". In the first half of the year, the electricity providers who got the financing included: $1 billion 500 million of financing for the car group of the second-hand car parent group, valued at 61 billion 803 million yuan, ranking tenth in the top 100 list; Yi Long approved the investment of Hua Ping, which was $100 million D+ round of financing, with a valuation of 8 billion 583 million yuan, ranking fifty-sixth in the top 100; wedding ceremony obtained 70 million dollars D1 round financing, valued at 6 billion 867 million yuan, ranking the top 100 list, Seventy-eighth.

But on the whole, the capital market is cold, the difficulty of financing is greatly enhanced, and the slowdown in electricity providers and other internal factors and external factors will further test the maturity and development of business models of all platforms.