In the face of the cashless world, the big chess of Guangdian Express has just begun...

“Everything is flowing, everything is changing, and everything contains the bud of its own elimination.”

Everything is going from extinction from the moment of birth, and so is cash. The ever-changing Internet technology has accelerated the process of cashless social processes, bringing great convenience to human life, but it is definitely not an exciting news for ATM-made domestic brands that have just emerged in the global competitive arena. .

In 2016, the domestic ATM brand has become the absolute dominant in the domestic market, and foreign brands other than Hitachi have gradually faded out of the Chinese market.

However, with the development of Internet financial technology, the cashless social process has accelerated, the pace of transformation and upgrading of traditional banks has accelerated, and the growth rate of domestic traditional ATM demand has slowed significantly. According to statistics, in 2016, major state-owned banks, national joint-stock banks, city commercial banks, rural commercial banks, rural credit cooperatives and other financial institutions purchased about 103,000 ATMs, a decrease of 14.88% compared with 121,000 in 2015.

In this era, the company will use the QR code to pay for life. For the Guangdian Express, which has been the No. 1 seller in the ATM market for nine consecutive years, it has clearly felt the crisis brought about by the cashless society. In terms of performance, Guangdian Express's total operating revenue in 2016 was RMB 4,423,590,000, a year-on-year increase of 11.34%. The growth rate was down by 14.7 percentage points compared with 2015, while the net profit attributable to shareholders of listed companies experienced negative growth for the first time, reaching -6.07. %; From the stock price point of view, Guangdian Express (002152) has been weak since 2016 and is not satisfactory.

The decline of the traditional ATM industry has allowed Guangdian Express to shake the foundation of its main business around ATM. Then, will Guangdian Express be “taken away” without cash?

First, the exponential change: How long does it take to leave the radio and television express?

The first thing to be clear is that the trend of cash demise can no longer be reversed. Internet technology brings "destructive innovation" to finance, as Brett King said in "Bank 3.0", "in traditional banking. The old things like outlets, ATMs, cash, checks, etc. can be said to have been 'thinking of Xishan', and the speed of change is accelerating, and no one can stay outside."

Second, it must be clear that cash will not die immediately. From ancient times to the present, the new and old replacements of anything will not be completed in an instant, hesitation or even opposition to new technologies and new things, and history has been constantly being staged. When the car first appeared in Europe, the United Kingdom specifically issued the "Red Flag Act", which stipulated that the maximum speed should not exceed 6.4 km/h. There must be someone to shake the flag in front of the car, and this ridiculous bill has gone through 31 years since its promulgation to abolition.

Not long ago, the China Banknote Printing and Minting Corporation issued an official message on the WeChat. "The country needs paper money and electronic payment. The banknotes cannot disappear. The gap between urban and rural areas and between young and old is still not enough. Offline, mobile payments are difficult to achieve full coverage of daily economic activities." Therefore, no matter how mature the technology and environment, the complete cancellation of cash will involve quite complicated factors.

In February of this year, Alipay predicted that it would take five years to promote China into a cashless society. On April 18, Alipay’s parent company Ant Financial and the United Nations Environment Agency initiated the establishment of a “no-cash alliance” and issued a cashless An initiative to improve business effectiveness. Comprehensive technology, environmental policies, regional economic development imbalances and the coordination of relevant factors, the cash-free society will take at least 3-5 years to come, and cash and electronic payments will also be symbiotic for some time. For Guangdian Express, this time is enough to do a lot of things to change their own destiny.

As stated at the beginning of this article: only changes will remain unchanged. A company that cannot change with the changes in the market environment is doomed to go a long way. "When you eat a bowl, look at the pot, think about the field." This sentence is often reflected in the company’s sense of urgency after being mentioned by the general manager of the Guangdian Express, Mr. Ye Yu. Looking back at the development of the Guangdian Express in the past 17 years, With the "self-evolution" and rapid response genes - whether it is the institutional change of employee stocks, or the full layout of the service industry in peace of mind, or the strong involvement in the field of innovation, is confirming the rapid Strain" brand gene. In the face of the sudden changes in the market environment, Guangdian Express has stood in the watershed of history. When it enters, it is fixed in the world;

In addition to responding to exponential changes in the outside world, Guangdian Express has a higher mission, and the message of “innovating technology to facilitate human life” is in line with the current trend of artificial intelligence. Not long ago, an article pointed out that the murderer behind the bank's three-year layoffs of 300,000 is not the mobile payment of the two horse owners, but the financial self-help equipment that has robbed the bank tellers. But who can deny the reconfiguration of the entire financial ecosystem of mobile technology based on Internet technology and even financial services on the mobile side? All in all, in the final analysis, humanity has never stopped pursuing the pursuit of a more convenient and beautiful life. This kind of exploration stimulates the continuous rise of technology, new and old iterations. In the 3-5 years before the full cashless society comes, the transformation and upgrading is indeed a huge challenge. For Guangdian Express, everything is possible.

Second, the game of the game: understand the four ecological layout of Guangdian Express

In the face of the financial technology revolution of Nokia, the company has not planned to tie it to the ATM from the beginning. “Building a new capital and helping the global competition and developing a win-win situation”, just like the theme of the annual development in 2017, under the industry's multi-diversity diversification strategy, Guangdian Express has laid out early in the field of financial services and intelligent financial technology. Has begun to take shape. If you divide the four dimensions of the old business - new business, old customers - new customers, what cards can be played in the hands of Guangdian Express?

1, the old customer - the old business dimension - solid wall Qingye

As winter has arrived, the domestic traditional ATM market is going downhill. Although domestic brands have become more powerful in recent years, this industry has already passed the era of “lying money to make money”, product homogenization has become more serious, and market competition It has become incandescent. Under the gunfire of price wars, corporate profits have fallen and then dropped. In the future, the battlefield will migrate to the stock market. It is still unknown who the deer will die, and the industry is reshuffled.

As for the leading faucet under the Guangdian Express, although it has been a competitor for many years, it has also sat down firmly. The reason is very simple. First, it has mature technology and industrial chain advantages, and there is no fear of price war on cost factors. Second, Bank customer resources accumulated over the years. What is currently to be done is to continue to consolidate the leading edge, further expand the market share of the stock market, and squeeze the living space of competing products. Not long ago, Guangdian Express announced the opening of the bidding project for ICBC's domestic and overseas ATMs. At this point, Guangdian Express became the only financial smart equipment supplier in China to successfully enter the six major state-owned banks. Under ICBC's blessing, Guangdian Express is domestic. The status of the industry has become more difficult to shake.

2, new customers - the old business dimension - open the territory

With the exception of a handful of developed countries such as Sweden, the cashless process in countries around the world is not as fast as expected. In developed countries in Europe and America, although there are gains, there is still a gap between the company and the first-line brands. In the Middle East, Asia-Pacific, Africa and other developing countries and less developed countries, cash is still the most mainstream payment method. In these countries, Guangdian Express has gradually become a local market through the “One Belt, One Road” winds. Mainstream brands. In 2016, Guangdian Express achieved a recovery growth in the Turkish market, with a contract of 150 million yuan for the whole year; in 2016, it achieved a breakthrough in the Russian market, and signed contracts for more than 30 million yuan throughout the year; in the Asia-Pacific region, VTM sales maintained a good momentum.

Data from RBR predicts that global ATM shipments will increase by more than 100,000 units per year in 2015-2021. In 2016, global ATM reserves will be approximately 3.3 million units. It is estimated that this number will reach 4 million units by 2021. Around the world, Asia-Pacific, the Middle East, Africa, Latin America and other developing countries and less developed countries will account for about 70% of the total number of ATMs, and these areas are precisely the key target markets of Guangdian Express.

In addition, as time goes by, the demand for replacement of old machines in the overseas ATM market is increasing. The data shows that the current demand for replacement of old ATM equipment in the world is about 300,000 units per year, and this number will be It will continue to grow in the next few years and will reach 380,000 units in 2020.

According to the annual report, Guangdian Express's overseas market operating income in 2014 was 217,386,100 yuan, accounting for only 6.9% of the company's total operating revenue. In 2016, the overseas market operating income was 458,226,500 yuan, and the overseas revenue accounted for 10.36%. More than doubled. By focusing on building a regional operation system and vigorously strengthening the construction of overseas localization services, the overseas business of Guangdian Express has gradually formed a multi-point trend, and the overseas incremental market cannot be underestimated.

3, old customers - new business dimensions - go hand in hand

Eggs can not be placed in the same basket. In order to comply with the changing trend of China's banking industry, Guangdian Express has been actively promoting the service transformation of enterprises as early as a few years ago, and building a financial industry chain around financial service outsourcing.

In addition to the traditional ATM machine maintenance and cash handling, it has more comprehensively entered the armed escort of cash. With the power of the capital market, a large number of companies in the M&A industry have quickly become the industry's integrators. As a benchmarking enterprise in the national financial services industry, Guangdian Yintong, a wholly-owned subsidiary of Guangdian Express, continues to innovate its technology application and business development model, and widely uses smart mobile terminals, big data mining, cloud processing and other technologies to independently develop and mature. The information management platform, RFID logistics management system, etc., and throughout the entire cash flow process. Such a combination of "technical + security" innovation is helping many domestic escort enterprises after decoupling to make great strides in the new blue ocean of market competition.

In addition, Guangdian Express is also accelerating its pace in non-cash outsourcing such as bill processing and credit card collection. In 2014, the revenue of Guangdian Express from the service industry was only 20%. In 2016, this figure increased to 32.66%. From one-fifth to one-third, it took only two years. It will not take long for the service sector revenue. It will fully exceed the traditional manufacturing business.

This is just the beginning. In the future, banks will consider the cost reduction and efficiency increase. ATM is likely to outsource the lease. Overseas, the ATM full outsourcing operation market is very mature. It is based on the world's largest ATM operator "CARDTRONICS". It operates 225,000 ATM devices worldwide, with an average revenue of 10,000 US dollars per device. China's current ATM holdings are about 800,000 units. If the average annual operating cost per device is 80,000-100,000 per year, it will generate an annual outsourcing operation market of 64-80 billion yuan, and Guangdian Express has been walking at ATM. At the forefront of the full outsourcing operation exploration, it is already doing a partial benchmarking test. Once the policy environment is mature, with the market share of the first in China, even if only 10% of the market is won, the profit is extremely considerable.

In the context of banking reform, the transformation of outlets is a topic that cannot be circumvented. In this respect, Guangdian Express started slightly later, but with the industry advantages that have been deposited for many years, it seems that it is not a problem to catch up quickly. From the traditional single equipment provider to the demand-oriented system solution provider is the only way, the current sector in the domestic business accounted for a relatively small, but in the next 3-5 years will become a major point of domestic business.

4, new customers - new business dimension - metamorphosis

From the company's 2016 annual report, the company's R&D investment in 2016 reached 363,476,900 yuan, an increase of 9.14% compared with 2015. R&D investment accounted for 8.22% of operating income, compared with 14.65% of Huawei, 13.95% of Microsoft, 13.59% of Google, and 7.73 of Samsung. %, Apple's 4.6% is not low, and has remained above 8% in the past two years.

The world's first radio and television express collection "face + finger vein + iris" recognition technology in one ATM.

The high R&D investment that has been going on for many years has also brought phased results to the innovation of financial intelligence technology. In the field of biometrics, the national standards for biometric identification led by Guangdian Express have reached five, and intelligent terminal devices based on face recognition, finger vein recognition, iris recognition and voiceprint recognition have been introduced. It has been launched in many fields such as domestic finance, government affairs, and aviation, and has begun to take shape in the industry.

In the field of artificial intelligence based on big data and cloud computing, the Guangdian Express Research Institute has established the Fintech Research Center. Currently, it is actively promoting cooperation with Baidu. The R&D can be used for humanized services at the front end and intelligently managed in China. Support decision-making in credit, various financial transactions and financial analysis, and use it in the background for risk prevention and control based on blockchain and cloud computing, providing more personalized and intelligent functions such as smart investment, smart contracts, and intelligent service terminals. Financial services and product solutions.

It is foreseeable that after 3-5 years, the field of financial intelligence technology will become the core business of Guangdian Express.

Third, play no cash: eat cash, why dare to cash life?

Faced with the cashless down-and-down attack of Internet technology, the core advantages of the “full set of currency processing technology” that Guangdian Express has been proud of have gradually declined. Want to "play" with a bunch of Internet technology giants in the future technology financial ecosystem, what are the chips in the hands of Guangdian Express?

1. Set up a mature “production, study and research” system for many years, and complete the complete chain of technology-product-landing solutions;

2. A huge service network and operational capabilities;

3. Rich domestic and international financial customer resources and marketing network;

One thing that can be foreseen is that no matter how technology develops, how virtual online virtual reality is, how easy the cashless society is, the real physical world will not disappear, and the entry from the physical world to the online virtual world will not disappear. Of course, various connection terminals as entrances are unlikely to be just mobile or wearable devices in the future. For example, at present, some bank intelligent outlets and smart terminal devices in government service halls are the entrances to the online services.

Internet technology companies have technology, but it is difficult to connect with hardware terminals and landing solutions. Just as Tencent does not make mobile phones, Google does not mass produce unmanned vehicles. Unless it acquires related industrial manufacturing companies, it must be Internet technology companies in the future. Integrating with industrial manufacturing, these three points are the most core resources for the future smart financial sector, including cashless.

This is also confirmed by the official announcement of the “Cashless Alliance” initiated by Antwerp and the United Nations Environment Agency. As the most well-known cash and television express, it is very clear that every link of currency circulation, combined with Internet technologies such as big data, cloud computing, biometrics, etc., quickly forms relevant landing terminal products according to the needs of the cashless society.

In the field of intelligent transportation, Guangdian Express has grasped the development trend of Internet + rail transit applications, independently developed a new generation of Internet ticketing system, and combined with a series of automatic ticket-selling intelligent terminals, it can provide a full set of Internet ticketing solutions for urban rail transit lines. It supports a variety of ticket purchase methods such as bank card flash payment, WeChat payment, Alipay, and offline two-dimensional code ticket collection function, and intelligent coverage of ticket sales service. As of 2016, Guangdian Express Internet ticketing equipment “cloud ticketing machine” and “cloud gate machine” have been put into operation in four cities including Guangzhou, Shenzhen, Wuhan and Hangzhou.

In addition, the VTM (Remote Video Teller Machine) independently developed by Guangdian Express can be as free from time and place as online payment processing, and can accept services that require physical media exchange (such as print receipt, card issuance, etc.) like a traditional counter. It can also be used to form an interactive service advantage with the surrounding business districts, further complementing the shortcomings of online payment and over-the-counter payment, and enriching the customer experience of cashless payment.

Not only that, but through the Internet, cloud computing, big data, biometrics and remote video communication technologies, Guangdian Express has established a cloud VTM intelligent platform for banks, governments and pan-financial enterprises to share, and successfully launched the first domestic Cloud smart counter machine - cloud VTM. The intelligent platform and cloud VTM provide users with a low-cost, low-risk, flexible choice of network locations and innovative service tools for rapidly deploying services nationwide. At present, Cloud VTM is being put into production in batches in cities such as Guangzhou, and provides applications such as small loans, insurance, tourism, and government convenience services on Cloud VTM.

In the face of the ever-changing environment of the times, whether it is the forward-looking layout of the industrial structure, the evolutionary upgrade of its own organizational form, or the innovative application of intelligent technology, the brand name of the “fast-changing” brand of Guangdian Express has never changed, “innovative The brand mission of technology to facilitate human life has never changed. If you become a major event, you will find it because of the situation, and you will follow the trend. This is exactly the basis of Guangdian Express’s fearless and cashless society.

Kevin Kelly mentioned in the book "The Necessity" that everything is flowing, and the new form will be the fusion of old things, which is far different from the old ones. Through hard work and imagination, we can learn to recognize the front more clearly and not blindly.

The saddest thing in this era is that -

Work hard, but not on the wind.

Smart, but not in the trend.

Knowing the trend means that we are already victorious. In the face of a cashless society, this big game of Guangdian Express has just begun...

Editor in charge: Liu Bing

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