Three days after listing, the market value is 43.66 billion US dollars, ranking among the top five of China capital stocks. Why is shell?

Alibaba is the largest platform for turnover. Who is the second largest platform? I’m sure many people say it’s Jingdong. In fact, it’s shellfish. Last year, the total transaction volume of the platform was 2.1 trillion yuan. It has become the largest real estate transaction and service platform in China and the second largest commercial platform in China. < / P > < p > according to the prospectus, in 2018 and 2019, the operating revenue of shells was 28.6 billion yuan and 46 billion yuan respectively, with a growth rate of more than 60%. In the first half of 2020, the income from shell house hunting reached 27.26 billion yuan, an increase of 39% compared with 19.61 billion yuan in the same period of last year, which is still in high-speed growth. It’s hard to imagine that Zuo Hui, the founder of shell, is also the founder of China’s largest real estate agency chain. < / P > < p > it can be said that Lianjia subverts Lianjia, and Zuohui also subverts Zuohui. It took shell only three years to go through the road of Lianjia for 20 years. On August 17, the U.S. stock market closed, and the shell price rose to $38.72/ads, with a market value of $43.66 billion, exceeding Baidu’s market value of $42.71 billion, making it one of the top five stocks in China. < / P > < p > although shell, which came out in 2018, has been established for only two years, the chain behind it has been running for 19 years, and Zuo Hui is a follower of “long-term doctrine”. “The industrial Internet needs more long-term spirit,” he said. < / P > < p > just as Huawei thinks about “whether Huawei will be the next to fall”, chain experts always think about “how to beat chain experts”. This mode of thinking is to think of danger in times of peace, and it is also the “Sage Inside and king outside” of the commercial version. The enterprise is only a carrier to realize the founder’s value, not the ultimate goal. If we find a better way, if others can’t subvert ourselves, we have to subvert ourselves. < / P > < p > Why do offline real estate agents have become the best in the world and bother to be online? Zuo Hui’s answer is: “this is an opportunity to create greater value. If you don’t come to a bigger stage, you will face all kinds of restrictions.” This sentence is obviously because Zuo Hui sees the limitations of offline intermediary. With the continuous expansion of enterprises, the management cost and ability need to be improved, while the marginal effect is declining. It is difficult for real estate intermediary to penetrate into the grass-roots level where the situation is more complex. Chain home has made 8000 stores in 20 years, which is a very remarkable and standardized achievement. But shells have covered 42000 stores in more than two years. < / P > < p > of course, the number of stores is only an external data, not all or the key to the success of shell. Shell can create such a huge value in a short time, which is a call of duty and the choice of the times. < / P > < p > in such a big market of China’s real estate transaction, there will eventually be a platform that will win in the final standardization and scale. The offline era of this platform is the chain home, and the online era is the shell house. < / P > < p > in fact, although chain home has achieved a scale that ordinary people can’t reach offline, Zuo Hui knows from beginning to end that he can’t eat an industry with one enterprise. Chain home is only an enterprise no matter how it develops. If he wants to realize his dream and find a bigger stage, he must be an open platform. < / P > < p > in fact, from 2009, Lianjia began to consider the open platform. In 2014, Lianjia launched the Internet-based upgrade and transformation. In 2018, Lianjia launched the wave of mobile Internet and started shell house hunting. < / P > < p > chain home has also changed from a closed enterprise platform to an open ACN, creating an operating system for the real estate trading industry, connecting different brands and brokers, helping service providers to cooperate efficiently and share success, so as to provide customers with better and more convenient services. < / P > < p > if the emergence of lianjia.com makes the resources of Lianjia achieve integration and interoperability, then the birth of shell house hunting will create a resource connection platform for the whole industry. The prospectus reveals that ACN has significantly improved the efficiency of real estate transaction industry: in 2019, more than 70% of the stock house transactions on shell platform are completed through ACN cross store cooperation. The average transaction amount of a single store increased from 10.9 million yuan in the second half of 2018 to 20.3 million yuan in the second half of 2019, with an increase of 86.2%. It can be said that the efficiency improvement is very obvious, which is like reengineering for the industry. < / P > < p > Zuo Hui’s success can be summarized as follows: first, he has deep insight into people; second, he has the courage to face the fundamental problems of the industry; third, he has the leading application of new technologies and concepts. < / P > < p > the intermediary industry is first of all a personal industry, most of which are people to people communication, because the real estate transaction process is complex, service plays a vital role in it. In the face of the same demand and housing supply, the final results of good intermediary and bad intermediary may be very different. This may be a clearer understanding after you watch the hot series some time ago. < p > < p > ACN is actually invented to solve the problem of people. Under the premise of complying with the rules of full sharing of housing information, it enables brokers of the same brand or cross brand to cooperate with each other in different roles and participate in a transaction. After the transaction, the Commission is divided according to the proportion of commission of each role. < / P > < p > break the barriers of stores, brands and intermediary cooperation, turn the complex real estate transaction game into a digital and transparent transaction mode, greatly improve the turnover efficiency of industry resources and the efficiency and income of the whole participants. Thus formed an attractive trading system, planted Indus tree, and ultimately attracted the Phoenix. < / P > < p > real information is the core of the industry competition that chain home has long found. If you have found a house online, whether you rent or buy it, I’m afraid you will encounter the problem of false house supply. Many perfect housing types and prices have been sold in the end. From this time on, you become the fish on the cutting board of the intermediary. You begin to welcome round after round of housing promotion. In the end, what you often rent or buy is not what you originally thought. < / P > < p > since 2011, Lianjia has emphasized the four truths of housing supply, namely “real existence”, “real sale”, “real price” and “real picture”, and started to build the most complete and real real real estate database dictionary in China, realizing the full cycle management of housing supply, with a complete track and record from housing supply input to maintenance to transaction, to potential owners’ maintenance and re entry Record the process. < / P > < p > this system has been translated to the shell house search platform, and now has realized more than 226 million real houses. General intermediaries like to make money with asymmetric information, but Zuohui guarantees that shells will not make money with asymmetric information. Under the waves, consumers finally choose the real, choose the chain home, choose the shell to find a house. < / P > < p > about the application of new technology, what you feel most is VR house viewing, which solves the biggest pain point of house viewing. When I chose a house, I had to run dozens or even dozens of houses, which consumed a lot of time, but if I didn’t go to the field, there were many things that I couldn’t find. < / P > < p > the application of VR house viewing solves this problem very well. After the arrival of the epidemic, it has almost become a magic weapon for the industry to save itself. From here, we can see the technical advantages of shells, and also the foresight of shells for the industry. With the help of the three axes, shell keenly grasped the pain points of house buyers, cooperated with the overwhelming advertising and good user experience, and won the wide recognition of consumers. For the broker group, the charm of ACN platform is irresistible. If you don’t join, it means that a person is fighting and competing with an industry. With more and more people joining, the value and charm of the platform will become greater and greater, which makes the shell like a snowball, growing rapidly. < / P > < p > at the beginning of shell’s launch, 58 city, which had been cut the cake of online traffic, had cooperated with a number of intermediary brand organizations to fight against the conference. So far, Yao Jinbo, CEO of 58 group, still thinks shell is a closed platform, which is a pity. The reason why people don’t understand shells is that they still know little about the industry. < / P > < p > generally speaking, the changes we see in the industry are all from light to heavy, and almost all of them follow the same path. Because it is difficult for offline entities to have the motivation and willingness to subvert themselves, they often resist upgrading and transformation, and eventually have to bow to the trend and be subverted by internet giants. < / P > < p > it is reasonable to say that with the complexity of the chain home industry, the height of barriers, high customer orders, complex legal relations and professional service requirements, it is quite confident that it will not be subverted by Internet intermediary services, because the most important thing is not the price, but the reliability. < / P > < p > the listing of shell and the delisting of 58 anjuke show that the industry competition should first follow the essence rather than simple price war. But Zuo Hui chose to change his life from heavy to light, which is undoubtedly a great choice. Of course, what’s more remarkable is that the success of the reform, rather than tossing around to the end, has affected the development of the main business, which is particularly admirable. < / P > < p > this fully proves that Zuo Hui has a more thorough understanding of the real estate industry and a very deep understanding of the application of Internet technology. Past experience tells us that it is easy for real enterprises to learn how to play the Internet business, but it is difficult for Internet enterprises to have the advantages of real enterprises. Many popular Internet companies are only a few years old. Once the transformation of traditional enterprises is successful, they will really break out the power to change the industry pattern. < / P > < p > from a higher level, Zuo Hui’s goal has never been to become a bigger enterprise and make more money. From the beginning to the end, he hopes to redo this industry, so that real estate agents can have more dignity, consumers can buy their favorite houses more transparently and cheaply, and a complex, non-standard, low-frequency, opaque, unprofessional and closed business environment can be created The industry has become an online platform with transparent information, high-frequency transactions, open cooperation, and high degree of digital informatization. < / P > < p > the social significance and social value of this measure exceed the enterprise significance and enterprise value. It is precisely because of such a higher dimension and pattern goal that shells can develop rapidly and become the Lighthouse of the industry. < / P > < p > I remember in 2004, chain home took the lead in clearly putting forward the sunshine operation mode of “transparent transaction, signing three-party agreement and not eating price difference” in the industry, sweeping away the haze of the industry. In 2008, chain home began to build a real estate dictionary, let the real sunshine into the industry. < p > < p > in 2013, chain home released “four reassuring service promises” to protect consumers. At every time node, chain operators are changing their lives for the healthy development of the industry, which is probably the original intention of Zuo Hui, and shells are the ultimate carrier of this original intention.