Like most people in poor areas, Zheng Yuanbao, who was born in 1958, was full of words like "hunger, cultural revolution and struggle". Unlike Nan Cunhui, who made a living by mending shoes after dropping out of school, Zheng Yuanbao chose fishing as his first job after leaving school when he was 15 years old. At that time, he earned fifty cents a day. Two years later, Zheng Yuanbao switched to working while the iron is hot. Others have to study for three years, and he can go it alone in two months. Soon after, Zheng Yuanbao studied with his teacher and practiced boxing every day. He studied under Sun Yat-sen's bodyguards, Liu Baichuan and his son, and Jin Defu, a famous Wenzhou teacher, and learned a good martial arts.
For a long time, Zheng Yuanbao talked about his "strikeouts" (fishing, striking while the iron is hot, boxing), which was his indomitable character. At the same time, because of his martial arts reputation, many disciples came to take refuge. According to Zheng Yuanbao's own statistics, he has taught more than 3,000 disciples, all of whom are bosses of big companies.
In this way, Zheng Yuanbao opened an iron shop in Liushi, Wenzhou, specializing in processing farm tools and hardware products for local people. At the same time, he founded a martial arts school to recruit students and accumulated a sum of money, which became the original accumulation of his business. Arrived at 1976, he contracted the electromechanical control factory in Fei Ying, Hangzhou, and started a small workshop production, which is the real business trip.
1982, Zheng Yuanbao went to Shanghai to buy a local enterprise and founded Shanghai Nanhui Mechanical and Electrical Equipment Factory, namely Shanghai People's Low-voltage Electrical Appliance Factory.
Six years later, the electrical appliance industry in Wenzhou has flourished, so Zheng Yuanbao returned to Wenzhou and took over a low-voltage electrical appliance factory with only 12 employees, 30,000 yuan of assets and a CJ 10 AC contactor. This is the embryonic form of today's huge People's Electric Appliance Group.
On this basis, enterprises in Zheng Yuanbao run faster and faster. Merger and acquisition became the main strategy of his career expansion: 1996 acquired 66 electrical appliances enterprises in Wenzhou; 1999 acquired 34 state-owned enterprises in Shanghai; 200 1 Acquired Jiangxi Substation Equipment General Factory, ranking second in the same industry in China. Zheng Yuanbao, who was born in the martial arts, seems to be afraid of Xiong Xinbao. During his 30 years of running a business, he has successively acquired nearly 100 enterprises with a crazy attitude, and his footprints are all over China, which can be described as "playing all over the world".
At that time, Zheng Yuanbao bought a 3,000-square-meter administrative office building at No.465, beijing east road, Shanghai, which is known as "a mechanical and electrical street in China", and then spent 65.438+0.2 billion yuan to build the People's Shanghai Industrial Park covering an area of 200 mu. This action, which was considered risky by many people at that time, just laid the position of people's electrical appliance industry today.
China People's Electric Appliance Group has 12 wholly-owned subsidiaries, 85 holding member enterprises, more than 800 processing cooperative enterprises and 1800 sales companies. Its industry spans energy, urbanization, modern logistics, shipbuilding, commerce, import and export trade, investment, electronic information technology and other fields.
"Schneider has developed so rapidly since he came to China, thanks to China's support in all aspects," Zheng Yuanbao explained the success of international competitors. According to relevant statistics, in 2005 alone, Schneider acquired two enterprises every month in China. In the past 10 years, Schneider's sales in China increased from 400 million euros to 7 billion euros today, and M&A strategy contributed greatly.
Zheng Yuanbao said that if people's electrical appliances want to go abroad, the first step is to integrate talents, markets, technology, information and other factors, open up their own market, and "use their resources to make money for me."
"Now we are negotiating the merger with several foreign companies, and things have not yet been decided. We are not merging small enterprises, but merging large enterprises; We are not merging a single industry, but merging multiple industries; We not only completed the merger in China, but also merged international enterprises. "
"The road of merger will continue because it is suitable for the development of private enterprises, which not only solves the problem of mass employment, but also completes the integration of resources." Schneider's entry is "very stressful and dangerous" for us.
"Schneider, as well as other international giants, came to me a long time ago to talk about cooperation, and I refused." Referring to Schneider's joint venture with Delixi, Zheng Yuanbao was excited with a wave of his hand.
Liushi Town, Yueqing City, Wenzhou, a small town in the south of the Yangtze River with only 50 square kilometers, has now gathered more than 3,000 electrical appliance manufacturers, as well as many well-known domestic enterprises such as Zheng Tai Group, Delixi Group, People's Electric Appliance Group, Great Wall Electric Appliance Group and Macquarie Electric Appliance Group. The annual output value reached more than 30 billion yuan, accounting for more than 65% of the national production share of small power industries.
Up to now, these low-voltage electrical giants have updated some previous development methods and gradually started to take the joint venture route. Zheng Tai chose GE (taking out some projects to cooperate with GE), Delixi chose Schneider, Tianzheng chose ABB, and Great Wall Electric chose Siemens to achieve the best integration of market, capital and technology.
In particular, on June 5438+February 65438+February 07, 2006, Schneider and Delixi signed a joint venture framework agreement, and both parties agreed to establish Delixi Electric Co., Ltd. with equal capital contribution at the ratio of 1: 1, with the Chinese as the chairman. The new company will continue to use the Delixi brand.
Unexpectedly, this caused fierce opposition from Nan Cunhui, Hu Chengzhong's former classmate and entrepreneurial partner. From June 5438 to February 2006, after Schneider and Delixi signed a strategic cooperation agreement, Nan Cunhui, who has always been known for his calmness, took the initiative to meet with media reporters. He said, "Schneider came to Liushi, a rural place, to monopolize the high, medium and low end of low-voltage electrical appliances!"
According to Nan Cunhui, after the negotiation with Schneider in 10, he has seen the China low-voltage electrical appliance market that Schneider is determined to win-"multinational companies are used to using standards, patents, acquisitions, temptations and other means to achieve their goals".
Similarly, Zheng Yuanbao also expressed this disgust and anger to reporters this time. In his view, international electrical giants came here to "destroy" China's national brands. Words such as "resist the acquisition of multinational companies and build national brands" often appear in his speeches.
Many people in the industry speculate that the road of "joint venture first, then loss, then holding" will be staged in Delixi, and Delixi brand will naturally flow to foreigners.
It is understood that the six series of products to be produced by Schneider and Delixi New Company are also the main products of Zhengtai and Renmin Electric Appliances, occupying 70% of the market share of low-voltage electrical appliances. Zheng Yuanbao said that at present, the competition in domestic low-power industry is the most intense and fragile moment, and Schneider's entry will inevitably make national brands feel "great pressure and great danger". Moreover, he judged that after the joint venture, multinational companies would dominate. Lu Yansun, former executive vice minister of China Machinery Department, once pointed out: "The strategy of foreign capital entry is very clear, that is, to seize the initiative."
In fact, Zheng Tai had previously sued Schneider for patent infringement, claiming 330 million yuan. The Patent Reexamination Board of the State Intellectual Property Office ruled that Chint's patent for "high-breaking miniature circuit breaker" was valid, but Schneider's reason for "invalid patent" was not established. "This is a very crucial step and confirms the legal basis of Chint v. Schneider." Xu, legal director of Zheng Tai Group, said.
Zheng Yuanbao told reporters that if a non-electrical enterprise wants to come up with capital, technology or market to cooperate with other people's electrical appliances, he would welcome it. However, if international colleagues ask him this question, it is impossible.
"Every industry in China should establish its own national brand. We should not only focus on the ten-year competition, but also base ourselves on the hundred-year competition. Without national brands, what can we compete in the international market? " Zheng Yuanbao made an important speech.
In his view, the first development period since the reform and opening up was mainly to strive for economic benefits and solve the problem of food and clothing. You need to protect the brand interests. "Entrepreneurs in China need to have a sense of justice and mission." Zheng Yuanbao said.
From 1989, we took over Yueqing People's Low-voltage Electrical Appliance Factory and the "People" brand. Zheng Yuanbao has a soft spot for this brand, and among its 85 holding companies, the brand "People" is uniformly used. In addition, Zheng Yuanbao is proud that in 2006, "People" brand became one of the top 500 most valuable brands in China, with a value of 465,438+25 million yuan. The company's slogan is: People's Electrical Appliances, Serve the People.
According to Zheng Yuanbao, in the early days of the development of people's electrical appliances, no one came to help; On the contrary, when the company is booming and everything is lacking, they are all icing on the cake. He asked: "In those days, the market competition was so chaotic and fierce. Now people's electrical appliances still have their own world?"
"The first two companies (Zheng Taihe and Delixi) are joint ventures, but there is no better performance than Renmin Electric." Later, Zheng Yuanbao added, "Whether it is the cooperation between Chint and foreign capital or the merger of Delixi and Schneider, there may be their own reasons." Five subsidiaries will be listed in five years?
At present, the capital market is extremely hot, and many Zhejiang enterprises have listed their own listing schedules. Wenzhou enterprises, which have always been uninterested in listing, have also attracted a wave of listing. Hi Bird will be listed soon, and many Wenzhou enterprises, such as Metersbonwe, Bang Wei and Bang Wei, are also actively preparing for it, or realize their dream of listing through a more convenient backdoor.
At the same time, as the leading enterprise of low-voltage electrical appliances in China, Shanghai Guotai Junan, as the initiator, is assisting the preparatory work of Zheng Tai Group.
Regarding the topic of listing, Zheng Yuanbao said, "People's Electrical Appliances must go public and complete the transformation from manufacturing market to capital market."
Zheng Yuanbao divides the listing needs of enterprises into three categories: the first category is enterprises that need a lot of capital investment and support to develop core technologies; The second is that the enterprise is poorly managed, unsustainable and needs emergency funds; The third is excellent enterprises, in order to let investors share the fruits of China's rapid economic development through investment enterprises and make enterprises more competitive in international and domestic markets.
There is no doubt that People's Electric Appliances is the third kind of enterprise in Zheng Yuanbao's eyes. "Private enterprises are listed to pay attention to brand interests." He said, "The capital market is a double-edged sword, which can greatly enhance the company's popularity and make the company notorious overnight."
In fact, the enthusiasm of Wenzhou enterprises to go public before was not high. Zhou Dewen, president of Wenzhou SME Promotion Association, said, "Wenzhou's financing channels are very developed and convenient, and it can receive a lot of funds in a short time to solve the urgent needs of enterprises." Since then, the desire of Wenzhou enterprises to go public for financing is relatively less strong. In addition, because Wenzhou enterprises can be regarded as the earliest private enterprises in New China, the corporate governance structure is not standardized, and they have to be "entrusted" after listing, which inevitably makes people hesitate.
After many efforts and the demonstration effect of the market, in recent years, Wenzhou private enterprises, as the "insulator" of listing, have finally "electrified", and listed companies have gone wave after wave.
A number of high-quality private enterprises in Wenzhou are actively preparing for listing, such as Weiming Environmental Protection, Baoxin Bird Clothing Company, Red Dragonfly Group, Mason Company, etc., all of which have officially started the listing process. Five companies have signed sponsorship agreements with brokers, and the follow-up resources are sufficient. More than 70 companies have carried out shareholding system reform and reached a certain scale. According to the disclosure, there are more than 100 private enterprises with listing intention.
Zheng Yuanbao said that the strength of family businesses is limited, and how to become infinite must take the road of joint-stock enterprises. "After we integrate the five resources of productivity, economy, technology, market and information, we can break the disadvantage of family business."
"This is not a question of social responsibility, this is a question of paying taxes. If you don't change it, your spirit can't be guided, so enterprise management is a question of social responsibility and social mission. You can't take your own business to death. "
"People's Electrical Appliances will be split and listed." Regarding the specific plan for the listing of People's Electrical Appliances, Zheng Yuanbao said that the preparatory activities for the listing of the company are in the process of preparation and are progressing smoothly. "The company is going to list five subsidiaries in five years," he said. "But the listing step may be later than Zheng Tai."
Zheng Yuanbao means that the 1 company of People's Electric Appliances is listed later than Zhengtai, but the fifth subsidiary will be listed within five years.
As for which five subsidiaries went public, which capital market they pointed to, and how much money they raised, Zheng Yuanbao responded with a smile. He just said that the pre-listing projects such as restructuring and planning of related companies are making positive progress.
A short-term plan obtained by the reporter shows that the company expects that after 3-5 years of business development, capital market financing will replace equity investment and become the most important source of funds. Zheng Yuanbao once said at an internal meeting that among its many subsidiaries, Shanghai, Zhejiang and Jiangxi are preparing to go public, but the specific time and place of listing need further planning.