Myself I am not very good at public speaking, in fact my background is and Chris, we are studying biology and chemistry, and my bachelor's degree in biology and Chemistry graduate is genetics.
Icahn is still a very small company, because of transit investment companies, fast, hungry, e the driver is not listed companies worth billions of dollars. Last year, more than 1.7 billion yuan income, net profit 11% per cent of the time, because the United States valuations are not high, so is the $ 1 billion domestic market value doubled three times no problem. United States capital is like the explosive growth companies.
Icahn three turning points: the earliest sex health network (B2C), the transition to B2B, from online to offline (merged with the State examination).
First we're an Internet company, Elken network is first B2C Web sites, the creation of icon when there is no business model, we think it is in between consumers and businessmen need to Alibaba, consumers with hotels, airlines pay between elong, ctrip, the medical industry also need to be platform companies, as an intermediate platform between consumers and medical institutions.
Icahn was created in 04, the earliest time as with many entrepreneurs, are based on their own life experiences to create the company. I'm from the United States came back, the doctor does not go to the hospital, I think that the best medical services in Beijing should be private foreign hospital doctors clinic, there are many such private international clinics in Beijing, Hong Kong Macau Center there is a clinic in Hong Kong, I often go there. After you become a member, an annual medical examination, a dental cleaning is free of charge, any subsequent discount.
I feel this is the best medical services in Beijing. I'm talking about the agent of your product, we will sell membership cards packed with, a name for us is Icahn Junan card. Elong is created with me before, we were looking for telephone sales person came from the hospitality industry, telemarketing to sell only sell one card a month. Is what we call sales talk to an elder sister for a month, eldest son in the United States reading is lonely, not embarrassed, so I bought a card. I think this is not a business model, or sell the second card.
Our second card called love Kang Yi Tong card, 100 million children in China. Here women have experienced as a mother, to the hospital to wait for hours, often in the presence of other mothers do checks, no dignity. We were in Beijing maternity hospital and experts from the Peking Union Medical College Hospital signed on as lectures, consulting experts, health talk each week, our sales sit in pregnant women to chat with them, send her their leaflets this weekend to listen to lectures. Icahn's Office was built outside the SOHO, each time more than more than 30 pregnant women, sold five or six cards per week, we finally found a business model. Selling hundreds of thousands of. But membership package to make an appointment, so many experts in total number, then do it anymore, it's not a business model.
Therefore, the icon from the second year onwards we will transition to a B2B, who is spending money on health care, we found before the icon appears, especially when many large companies, GE, IBM Corporation, nearly 10,000 employees located in many cities. Personnel department at a local hospital, a Medical Center for medical examination of employees, headquarters does not have statistical data, does not know the health conditions, or can't do health management.
I said if you could outsource all of Icahn, Icahn helped you build a website, call center, we help you find the experience Centre and hospital. Believe Icahn, a Fortune 500 company, we began to get a lot of customers.
According to the popular view now, through the Internet and Internet access to the flow of thought, it's not good? but why Icahn from online to go offline? Icahn moved from B2C to B2B, business of less than 1 million Yuan for the first year, second year made more than 10 million.
We have a problem, take them to the hospital we'll lose money, because the hospital does not give a discount, send them to the profit of the private medical center, but they are not willing to work with you, they think you're speculative dealers, grab their customers and profits. We used the mode of Internet access to the client, but can't drop.
Icahn took us two years to create understanding, when we talk about the Internet when thinking what is the biggest bottleneck? graft to traffic from the Internet when those products and services, certain of these products and services is the need for excess, otherwise flow to no avail. Alibaba to sell things are bound to be excess, goods such as LV I want to sell not willing in the Alibaba, because he is a scarce resource. Elong, ctrip why? because of excess hotel rooms and airline tickets are, in addition to the season. But high quality medical resources are scarce, and therefore do not need distribution. Icahn was later forced to go from line to line.
At that time two of the largest chain of Medical Center, one in Beijing and one in Shanghai. The two companies, Icahn will need to work with them. Chris arranged by one investor Icahn and talk about cooperation with the Beijing company, supposed to meet bosses on both sides, then the other party didn't show up. They welcomed me to his Vice President, moved two chairs in the hallway, talk to me about half an hour. Over the years, Icahn income of more than 1.7 billion yuan last year, nearly 800 million yuan of the company around. So I often warn the staff: don't underestimate small companies, big companies are small companies to subvert.
Icahn was forced to decide to go from line to line, 2007, Elken network final Ambassador examination and Shanghai's largest private medical center merged. Icahn was about about 20 million yuan of income, the Ambassador about 80 million Yuan. From the search NET light set a one time full
Because Elken network is an Internet company, though on a smaller scale, but growth is good, so merge Icahn proposed a higher proportion, then bargain, repeated several times. As determined in the negotiation process of the programme changed twice, but then I was determined not to do, and do not want to merge.
I was on business in Jinan, Zhang called me in the evening and the next day go to Japan on business, then went to Japan mobile phones are not roaming, it can't. So he said he gave me a last phone call, the two sides could take a step back, or merge.
He said he made one final effort, achievement, not make it. I had a fight with Nancy, I said I don't want to close, and then both sides unhappy hung up the phone. The next morning, Jason could give me a call, said Nancy to go to Japan before he made a phone call and asked him to give me a call to talk. Jason Jiang said, any success is inseparable from the founder of the company.
Second, don't underestimate the power of capital. Capital OK, for the company's development is still very good. After that call out, I really really cool, thought for a long time. Finally decided to merge direction. Finally, Icahn and Ambassador shareholders, both through creative methods, Ambassador merged with Icahn.
For founders, we are very concerned about the issue of control. If a small company, no development, no more shares, and another control are of no use. Although I have is from the Harvard Medical School, but is reading genetics, never worked as a doctor, or how to manage medical institution under the line. Since 2007 I love Kang took over the entire State, doesn't know how to manage medical institutions, it took three years to learn how to manage a chain of medical institutions.
Based on publicly available data, starting from 2011, Elken State income has ranked first in the industry, and held until now. This process, there are many investors Icahn helped Icahn, has a lot of big-name funds, including Goldman Sachs, Singapore Government sovereign funds, such as Merrill Lynch, CIC, Beijing SASAC, brings a lot of credibility to Icahn.
In the past more than 10 years, Icahn most busy, are two of the earliest investors, a venture of Shanghai Lin Huijuan, second is Chris. To love Hong Kong better development, and made a lot of sacrifices. Jason could be introduced by Nancy to help me. See spring 2005, Lujiazui in Shanghai Jin Mao a foot massage shop next to the hotel. We talked for more than 10 minutes, Jason could decide to vote for me, voted in the millions of dollars. Investors continue to come in later, the Board of Directors have enough seats, but Zhang ying and Shanghai venture investors, two directors, but share one vote, the two directors a vote, I guess such things Chris is never in other companies.
I am sure that, like me experience than our young investors, say we mind open enough, they must be bad. Review a decade ago, I sure wouldn't listen, what state of mind is not open, but now in retrospect, I think that we should listen to. Company size, has great relationships with entrepreneurs. I communicated with Chris, he is two years younger than me, sometimes that I, I can't stand it. But not to think so. Founders say the investors do not understand us, do not understand the industry, in fact, business is the same, sometimes it makes sense to listen.
The past ten years, Icahn from as early as there is no business model, moved from B2C to B2B platform, Internet models, build customer platform, and then go from online to offline. But I think Internet and medical combined time to has, recently heard registered network valuation 1 billion dollars, actually love Kang yiqian is China maximum of registered company, in 2005, Beijing, and Shanghai, and Guangzhou, and Shenzhen total 8 home registered company, love Kang acquisition has 6 home, a night Zhijian into has maximum of registered company, but that when registered no commercial mode, later various reasons not do has.
Icahn has passed the exam, do a billion of Yuan, but worth only $ 1 billion, the company registered an estimated tens of millions of RMB yuan, or loss, is worth $ 1 billion. Icahn decided to invest, re-established booking registration platform, after a period of time will be able to see more than 10 provinces in Icahn investment guidance and communications platform.
Aiko mobile is an independent company, I personally invested in 20% shares, Icahn 70%,10% given to the management team. Detailed lists of the United States 15 going public move medical company, one of Icahn investment, Icahn hopes to invest their technologies to China. In addition, today we are honoured to have the opportunity to become shareholders of the good doctor. On the mobile platform, most medical experts, I think it is a good doctor, hospital above most experts, we are the only shareholders of a medical industry.
Now everyone is talking about big data, one as an entrance physical examination. Some of our peers telling itself is the largest medical data entry. But big data if data to be exact. Medical examination data correctly without the quality of medical equipment and diagnostic reagents. All medical centres in the country, including public hospitals, Medical Center, GE, Siemens, Philips, Roche Diagnostics, high-end medical equipment and diagnostic reagents Icahn are the biggest buyers, dominated by low-end equipment made some of our peers, not domestic equipment is not good. Well, three hospitals will start using. Our transit investment and a lot of equipment and Diagnostics company, we'd like to see if a high diagnostic accuracy, Icahn can be used.
We communicate with Chris, maybe you don't love sports together with latitude and longitude, to invest in Diagnostics, medical device companies. Today this opportunities, do about advertising, we also voted has several specifically do mobile medical company, love Kang will build a open platform, last year almost service has 3.6 million people, two years ago service has 2.7 million people, annual increased 35% of customer number increased, almost three years around, enterprise customer crowd reached 10 million around, medical number not up of, but customer quality I believes must is highest of. Estimated 90% Internet company, Baidu, Alibaba group, Tencent, with Icahn, among the top 500, 208 with Icahn, among China's top 100, 81 with Icahn.
Mobile Internet time here, to make an appointment in the past was used as a scalper. Now on Internet + platform, transit investment and good dentists, more beautiful, these are a lot of needs. Chain of clinics under the line, and Icahn following a service, but I feel that it has not come out, but I see opportunities in the Pediatric outpatient department, Wo Yi Hop in the children's Hospital of the new century, the United States did a good job in this regard.
In the United States, social security, the retirement age of 65 before they can use, so the company must buy insurance for employees, so the United States half of commercial insurance and the Government's health-care. China's social security, there is no obligation to buy any commercial insurance for employees, most health supplementary insurance to every high-end insurance executives. United States an insurance policy about US $ 5,000 a family, spend about $ 15000.
Similar United States high-end insurance there, too few, I estimate that no more than 500,000. So if in China, combining medical and insurance, if you find a good method, available to middle-class families, find a good pattern, there will be a great opportunity.
Why physical examination can succeed? medical industries, large-scale medical support will be provided must depend on the expert resource, not too dependent on the specialist resources and physical examination this pattern. So why do Asian heart hospital in Wuhan, China's largest private heart hospital, was successful, but that is a. May not be copied, it is not business, medical success, because he is a service system.
So much for. Thank you very much!
