Picture from: Tu Chong Creative
The first batch of Internet executives who switched careers to the real estate industry began to resign.
Recently, a person familiar with the matter disclosed to 36 Krypton that Fan Chi, the co-CEO of Gemdale’s property management company and former vice president of Alibaba Group, is about to resign. He has just worked in Gemdale Property for one year, and his whereabouts are unknown. 36 Krypton asked Jinfang for confirmation, but as of press time, it has not received a reply.
Fan Chi has worked in Ali for more than ten years. During his tenure, his level reached M6. He has successively served as executives of Alipay, Fliggy, and Ali Entertainment. In September 2021, Fan Chi joined Gemdale Property Management, responsible for the digital transformation of the company, and reported directly to Ling Ke, chairman of Gemdale Group. According to media reports, Fan Chi, who joined Gemdale Properties, has a high annual salary and shares in the company.
Fan Chi’s pseudonym in Ali is “Cheng Yaojin”. As an executive in the Internet industry, the news that he entered the real estate industry halfway to become an executive caused a sensation in the industry. How to stir up the digitalization of the transmission industry has become the focus of the outside world. But apart from taking business executives to Hangzhou to do market research after joining the company, Fan Chi hardly made any public appearances or other developments.
It is understood that before Fan Chi joined Gemdale Properties, Ling Ke highly recognized Fan Chi’s long-term experience in operating Internet companies. During Fan Chi’s tenure in the Alipay Express Payment Project, he followed his leader Fan Zhiming and realized Alipay’s “100 million users” on the wireless terminal. business goals, so as to stand out.
It is reported that Link has high expectations for the introduction of experienced Internet professionals to transform the relatively conservative and dull real estate and property management businesses. I have always had great expectations for Gemdale’s technological development. I once made a statement that “build a house like a car.” In terms of property, Link believes that technology should empower property management and services and improve the level of intelligence in property services.
It is speculated that the introduction of Fan Chi, in addition to improving the level of business digitization, also means that Gemdale is also seeking listing of property companies.
Gemdale Property has never released a clear listing timetable. In 2021, “Golden Real Estate” will officially change its name to “Gemdale Smart Service”. Since Wanwuyun, a property company under Vanke, was listed on the Hong Kong Stock Exchange, among the top 10 real estate companies, only Longfor and Gemdale’s property companies have not been listed, and Longfor Zhichuang Life is promoting the second submission.
According to the annual report of Gemdale Group, as of the end of 2021, Gemdale’s smart service contract management area will exceed 330 million square meters, surpassing the investment accumulation of the fifth-ranked listed logistics company in terms of management area. During the same period, Gemdale Smart Services newly expanded contracted area of over 70 million square meters.
After Fan Chi joined, the digitalization of the property business has been slightly reflected in Gemdale’s financial report. Gemdale Group’s 2021 financial report shows that in terms of technology-enabled property services, Gemdale has independently developed and cooperated in the construction of digital systems and platforms, and exported Internet SaaS to the outside world Intelligent technology services such as online services, the software serves about 3,800 communities.
It will be a boom in 2021 for executives from major Internet companies to join the real estate industry, and it was once considered “anti-commonsense investment” by the outside world. Industry insiders believe that it is a good thing to use Internet people to stir up the game, which can make the Internetization of the property industry faster . However, there are relatively few talents who understand both technology and business logic, which is also one of the obstacles to promoting digital operations.
Although the real estate and property industry’s acceptance of digitalization is gradually improving, the integration of digitalization and business has always been difficult. According to media sources, within Gemdale, the management is opposed to expanding the scale by spending money on acquisitions.
As a labor-intensive industry, the property industry has always been strict on cost control. From the perspective of cost, self-developed digitization helps enterprises control costs. However, Huaan Securities pointed out that for leading property management companies with large volume, large personnel, and big data , pay more attention to the low-cost “grafting” ability of technology. High standardization is a sharp weapon to ensure relatively low prices, but the secret to maintaining low prices lies in “optimized supply chain and the most refined cost management based on the advantages of scale.”
Gemdale did not disclose the investment related to digital business. Digitalization is effective in reducing costs and increasing efficiency, but the investment will cost a lot of money.
Taking Wanwuyun as an example, according to the prospectus, from 2019 to 2021, the research and development expenditure of Wanwuyun will be 200 million yuan, 250 million yuan and 370 million yuan respectively. As of December 31, 2021, the company’s R&D team had a total of 460 employees.
Ding Xianfeng, Chief Scientist of Wanwu Cloud, is also from Alibaba. Before joining Wanwu Cloud, Ding Xianfeng was the Chief Intelligent Network Scientist of Alibaba Cloud and the leader of the IoT Subcommittee of Alibaba Technology Committee. With nearly 20 years of experience in IoT and artificial intelligence, he has worked in Silicon Valley for 15 years and served as a global director of the International Sensor Industry Association.
Wanwuyun told a story that persuaded capital to vote – “Butterfly City”, distinguishing itself from all other listed property companies, so “Diecheng” is considered a “shell” in the property management industry. In October 2022, Wanwu Cloud was successfully listed on the Hong Kong Stock Exchange.
36 Krypton Author｜ Song Hongshan
media reports
36Kr Sohu Technology Netease Technology
Event Tracking
- 2022-12-14 The former vice president of Ali left Gemdale Property Management and worked for only one year
- 2021-05-12 Fan Chi, vice president of Alibaba, resigns: he has served for 11 years in total and has been in charge of word-of-mouth, Fliggy and other businesses
- 2020-06-18 Readjustment of Ali Entertainment: Dai Wei as COO, Fan Chi transferred
- 2019-10-16 Fan Chi, the CEO of Koubei, was transferred to the vice president of Ali, responsible for the hotel business
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