First, Shanhaiguan is the first unicorn-level company incubated under the Jump umbrella but not part of the Jump system's holdings. This is a positive factor for the value reassessment of Jump itself.
Second, Shanhaiguan acts very swiftly. Even before acquiring Family Good Items, Cheng had already prepared for the backdoor listing. In other words, Cheng's decisive battle is quick—it's a business blitzkrieg.
Third, internally, Jump requires extensive evaluation and study on how to deal with Shanhaiguan. The scale of Shanhaiguan determines that if Jump attempts to throttle it, Shanhaiguan could take its influencers to other video platforms—essentially handing knives to competitors.
With Cheng present, the influencers of Shanhaiguan can continue to ride the wave and grasp traffic direction in the coming years. This is premised on Cheng daringly pushing Jump Video to the brink while Shanhaiguan gets listed.
Regarding the game between Jump and Shanhaiguan, Cheng welcomes it.
