Bilibili Score of 9.7, PepsiCo Partnership, "Ten Thousand People Plan"... 6 Takeaways and 4 Insights | FreeS Fund Chalkboard · February
Do what's right, not what's easy.
Welcome to the February edition of the FreeS Fund newsletter. We'd like to share our latest updates with friends who have long followed and supported us:
- FreeS Fund founding partner Li Feng was named to the "GPLP 2018 Top 10 Most Influential Angel Investors" list.
We also have good news from the FreeS family:
- Deep Tech: Robby partnered with PepsiCo to launch an autonomous snack delivery robot; NextVPU CEO Feng Xinpeng was selected for the national "Ten Thousand Talents Program"; Shangyue won the bid for Guangxi China Tobacco's "Internet Plus Procurement" integrated platform project; Meimiao Environmental Protection signed a new landfill leachate tailwater treatment project.
- Consumer: The animated series The Great Wall of Warriors, produced by 2:10 Animation, received rave reviews on Bilibili with a score of 9.7.
In the year ahead, FreeS Fund will continue to stay grounded and push forward, while remaining eager to explore the unknown. We look forward to constantly encountering innovation and excellence.
FreeS News
FreeS Fund Awards
▍FreeS Fund Founding Partner Li Feng Named to "GPLP 2018 Top 10 Most Influential Angel Investors"
On February 20, 2019, the 3rd GPLP Investment Industry Summit and 2018 Influence Awards Ceremony was held in Beijing. The summit was jointly organized by GPLP, a leading domestic financial media platform under Rhino Finance, together with Qingfeng Finance, multiple domestic industrial investment institutions, renowned academic institutions, and authoritative media outlets. Aiming to provide an independent third-party perspective for objective and fair discussion of various issues in the investment field, the summit recognized individuals and institutions that have contributed to the industry and offered recommendations for the development of the venture capital sector. FreeS Fund founding partner Li Feng was named to the "GPLP 2018 Top 10 Most Influential Angel Investors." (See coverage: [Qingfeng Finance] GPLP 2018 Annual Influence Awards: Five Major Lists Unveiled)
Perspectives from FreeS
▍Li Feng, FreeS Fund: "Everyone has overcorrected by preparing for the worst"
Crises always happen when you least expect them. Yet at the beginning of 2019, China — from top to bottom — struck a posture of being ready for the worst, prepared to confront a potential economic downturn. For individuals, this meant tightening belts and cutting consumption; for companies, laying off staff and boosting efficiency; for the government, rolling out policies and holding meetings to provide both policy support and confidence.
Moreover, a consensus had formed around what China's economy should do next, including upgrading manufacturing and reducing excessive reliance on real estate investment. Almost everyone knew what needed to be done and how to do it, and had braced themselves for hard times. "Everyone has overcorrected by preparing for the worst."
By normal reasoning, a sudden crisis is unlikely under these circumstances. It feels more like everyone knows what's missing, knows what needs to be done, and has set a target to reach. We're now at the starting point of that journey. (See coverage: [Li Xiang Knowledge Briefing] Li Feng ①: Why Is Everyone So Pessimistic About 2019?)
▍Li Feng, FreeS Fund: "Once expectations improve, everything flips immediately"
Major shifts in expectations typically result from a series of consecutive events that exceed expectations in the same direction. Take 2018: if only one of deleveraging, U.S.-China trade friction, the ZTE and Huawei incidents, financial regulatory tightening, or P2P platform collapses had occurred, people might not have turned so pessimistic. But these events happened in rapid succession, and each one's aftermath exceeded expectations. The resonance they created caused everyone to recalibrate their expectations.
Similarly, in 2019, a series of consecutive events exceeding expectations in the same direction could also compound and shift the pessimistic expectations from early 2019, pushing the expectation needle back toward optimism. (See coverage: [Li Xiang Knowledge Briefing] Li Feng ②: Three Variables That Could Change Pessimistic Expectations)
FreeS Family Updates
Deep Tech | Robby Partners with PepsiCo to Launch Autonomous Snack Delivery Robot
In early 2019, PepsiCo began operating its first autonomous snack delivery robot at the University of the Pacific in the United States, becoming the first major food and beverage company in America to adopt snack delivery robots.
The autonomous delivery robot was developed through a partnership between PepsiCo and Robby Technologies, a San Francisco Bay Area company. It delivers food and beverages from PepsiCo's Hello Goodness product line to students on the University of the Pacific campus. (See coverage: [Huixin APP] PepsiCo's Latest Innovation — Autonomous Snack Delivery Robot)
Deep Tech | NextVPU CEO Feng Xinpeng Selected for National "Ten Thousand Talents Program"
Recently, the General Office of the Central Organization Department issued the "Notice on the Fourth Batch of National 'Ten Thousand Talents Program' Selections." NextVPU CEO Feng Xinpeng was selected as a leading science and technology entrepreneur in the fourth batch of the national "Ten Thousand Talents Program."
The national "Ten Thousand Talents Program" runs parallel to the "Thousand Talents Program" for recruiting high-level overseas talent; it is a key support program targeting domestic high-level talents. It represents a major talent initiative by the central government to coordinate both domestic and international talent resources, emphasizing high-end leadership and comprehensively advancing China's talent development. (See coverage: [NextVPU] NextVPU CEO Feng Xinpeng Selected for National "Ten Thousand Talents Program")
Deep Tech | Shangyue Wins Bid for Guangxi China Tobacco "Internet Plus Procurement" Integrated Platform Project
Recently, Shangyue won the bid for Guangxi China Tobacco's "Internet Plus Procurement" integrated platform project. The company will help Guangxi China Tobacco build its own digital procurement platform, accelerating and improving efficiency in enterprise procurement.
The project aims to achieve full-process digital operations and full-traceability across all stages — from budget control, product pool management, purchase requisition, purchase approval, order management, receiving management, reconciliation management, invoice management, to payment collection and disbursement — while enabling mobile approval through WeCom. Through quality and price comparison, joint procurement, intelligent analysis, and poverty alleviation through consumption models, the project will systematically enhance the digital transformation of enterprise procurement toward greater transparency, openness, and efficiency. (See coverage: [Shangyue] Shangyue Wins Bid for Guangxi China Tobacco "Internet Plus Procurement" Integrated Platform Project)
Deep Tech | Meimiao Environmental Protection Signs New Landfill Leachate Tailwater Treatment Project
Kunshan Meimiao Environmental Protection Technology has signed a new landfill leachate tailwater treatment project in Shanghai. Through lab testing of wastewater samples and on-site pilot testing, Meimiao's combined BDD advanced oxidation and electro-oxidation process gained client recognition for both treatment effectiveness and cost.
Through long-term technical accumulation, Meimiao has developed certain technological advantages in electro-oxidation for industrial wastewater treatment (extremely high COD removal rates, stable operation, etc.). The company also adheres to standardized modular approaches in project implementation, ensuring quality in engineering design and construction (small footprint, no solid waste generation, etc.). (See coverage: [Kunshan Meimiao] Meimiao Update: New Landfill Leachate Tailwater Project Signed)
Consumer | 2:10 Animation's The Great Wall of Warriors Scores 9.7 on Bilibili
Since its premiere on January 19, 2019, The Great Wall of Warriors has achieved a 9.7 rating on Bilibili. Airing in primetime, the show has achieved viewership ratings exceeding 1.38%, on par with Boonie Bears: Treasure Hunt and Pleasant Goat and Big Big Wolf: The World Guardians.
The Great Wall of Warriors is a full-CG fantasy adventure animated series featuring an all-animal cast, jointly produced by Youku, 2:10 Animation, and Electric Pictures, and meticulously crafted by 2:10 Animation over three years. Having previously created IPs such as The Silver Guardian and I Am Jiang Xiaobai, 2:10 Animation specifically assembled a team with film production experience for this project, applying cinematic standards and sensibilities to a TV animated series. (See coverage: [Sanwenyu] Bilibili Score of 9.7: Chinese Animation The Great Wall of Warriors Shows Huge Potential)
Perspectives from the FreeS Family
▍Ren Jiujin, Particle Fever: To Be a Pioneer Brand, Not a Trend Chaser
You don't have to follow whatever's popular. Our ambition is to be a pioneer brand, not someone chasing trends.
Chinese people's aesthetic sensibilities and consumer demands are underestimated. It's not that they can't accept avant-garde, sophisticated styles — it's that you don't dare to take that step. If you're forever riding the wave, you'll never stand at its crest. So our team isn't afraid to be the first to try something new; in fact, we encourage and compete to be first. (See coverage: [CYOT] From Peking University to Harvard: How a 90s Legal Professional Became a Pioneer Sportswear Brand Leader | CYOT Interview: Ren Jiujin)
▍Lin Sheng, Chicecream: The Core of New Brands Is Scene Extension
Scene has become the key to product innovation. Because consumers show different needs in different scenarios, and now a critical point for product innovation is scene extension.
I've always believed that any competitive advantage built on the surface level of a product is unsustainable. If you can make it, others can make something similar — this applies to any product. So you need to think from the perspective of scene. Many companies are obsessed with creating hit products, but if you look at products in isolation, divorced from scene, it becomes exhausting. (See coverage: [Yecao New Consumer] The Secret to Hit Products, Chicecream's Lin Sheng: The Core of New Brands Is Scene Extension)
▲IPO, New Zealand Team Building, Funding, New Launches... Go Fight, Go Make Mistakes, Go Fall, Go Win in 2019 | FreeS Newsletter · January
▲IPO, 7 Insights, 20+ Awards... Continuing to "Do What's Right, Not What's Easy" in 2019 | FreeS Newsletter · December
▲Breaking Technical Bottlenecks, 20 Million+ Fans... 16 Achievements and 5 Insights | FreeS Newsletter · November
▲Retail Unicorn Born, Championship Win, Finding "Nails"... 12 Advances and 3 Insights | FreeS Newsletter · October
▲Fund II First Closing, New Launches, Awards... 13 Achievements and 4 Insights | FreeS Newsletter · September
▲Top 5/15/50/100, Expanding to India, Partnering with Tencent on In-Car Systems... 13 Achievements and 8 Insights | FreeS Newsletter · August
▲Strategic Investment, Rocket Test, "Iron Triangle Plan"... 7 Advances and 3 Insights | FreeS Newsletter · July
▲Crayfish Goes Overseas, Chip Launch, Talking About TikTok... 7 Developments and 3 Reflections During World Cup Season | FreeS Newsletter · June
▲11 Advances in Early Summer: Grown-Up, We Still Believe "Creating Is Endlessly Fun" | FreeS Newsletter · May
▲Funding, Licenses, New Launches, Team Building, Awards... 15 Important Events in the April of This World | FreeS Newsletter · April
9 Achievements and 4 Insights in Spring | FreeS Newsletter · March
