Zheng Peimin: Has Been In The "Crater" Entrepreneurship

In warm and humid Hainan Boao, entrepreneurs are passionate.

Liu Ruiqi, President of Heng Yuan Xiang, was standing at the fortune forum, talking about the brand operation of Heng Yuan Xiang. Then he talked about the tragedy of China as a "world factory".

In a forum with "wealth" as its theme, more people believe that Liu's courage and enthusiasm come from his real creation and sharing of wealth. He came from his "MBO formula" in Heng Yuan Xiang, and he paid 92 million to become the real owner of the business.

This scene is very gratifying to the angry young man on the stage, not only because Heng Yuan Xiang's MBO has been his masterpiece, but Wang Jiafen is becoming his client.

More importantly, MBO is evolving from the "scream" on the forum five years ago to the mainstream voice and mainstream operation.

It is here that he started his own business age.

This young man is Zheng Peimin, chairman of the investment consulting company.

After the "Sixteen big" banner of MBO is displayed, the smell of wealth surges.

After the completion of the new and old handover, the new general secretary Hu Jintao presided over the first meeting of the Central Committee of the CPC Central Committee. "Restructuring" became one of the four major priorities of 2003.

In the past 10 years, the political wind on the top of the "restructuring" has finally become clear again.

The era of a capital change has come in an extremely sensitive way. It has become the epitome of our great political and economic convergence.

Zheng Peimin has embarked on the wave of the times.

He saw the MBO market earlier and threw himself into it.

In 1997, Cheng, who graduated from the school of economics and management of Tsinghua University, went to work at the headquarters of PICC.

But in the second half of 1998, when the state reorganized trust, Zheng had to reconsider his direction in the future, he had sober consideration. "I have nothing to do with and no capital. What I can exchange with society for interests is my profession only."

At the end of the day, he felt that the research of executive incentive is his best.

Therefore, he chose the operator shareholding consultation as his goal.

In October 1998, no famous Zheng decided to start his own business.

It should be said that Zheng Peimin's success lies primarily in his foresight of the MBO market.

But in 1998, more of this is intuition rather than foresight.

Even so, it is still a courageous decision.

Because in 1999, when the four party property rights reform woke up the whole industry like thunder, the political trend of property rights reform continued to rush East and West.

In a public speech in the same year, Wang Wei, chairman of Wan Meng investment management company, boldly predicted that there might be a MBO boom in China in the next five years.

But someone questioned Wang Wei on the face. Why can you make such a judgement?

At this time, Zhejiang HOLLEY Wang Li Cheng's MBO has been in civilian low profile for five years.

In the following year, the vigorous Chunlan reform was stopped.

How many characters have been lost in the process of the pformation of Chinese enterprises?

But a potentially huge MBO market already exists.

The accumulation of market forces in the past 20 years, the flourishing of civil power, the long-awaits of restructuring state-owned enterprises, and the revival of entrepreneurs' value have created an unprecedented demand for "personalization of state capital".

In the process of restructuring state-owned enterprises, the huge wealth effect is not only for the "entrepreneurs" group, but also for the restructuring of state-owned enterprises.

On different occasions, Zheng claimed that he was selling shoes or selling water to entrepreneurs.

But this is no longer important.

The key is positioning: Zheng wants to turn MBO into a product, a service, and an industrial thing.

It is said that MBO's market is growing by 20~30 enterprises every year.

From 2000 to the present, there are 15 listed companies in MBO.

In the next two years, the total number will be around 100, accounting for 10% of the listed companies.

According to a research survey conducted by Zheng Jiqi colleagues: if the fee is based on Rong Zheng's current fees, the consultation fee of the operator will be at least several hundred million.

In order to coordinate the relationship between the enterprise and the government, the company started running the MBO plan for the first time, until the introduction of strategic investors for the "restructuring". Zheng ran on his three level of design.

But Zheng Chenggong's bottom line also lies in his persistence and professionalism.

The number of veterans who fought in the business world no longer belittled the young man before he sat down to listen to him. The key was to talk about it for more than ten minutes and found that he was quite professional in the equity incentive.

This is the first operation of the holding forum in 1999, which led Rong and Zheng to come up with a commercial Banner for MBO. In May 2000, Rong issued a comprehensive research report on the executive pay and shareholding status of Chinese listed companies and a summary of the situation of equity incentive in Chinese enterprises. The white paper, known as the annual report of entrepreneur value, has caused a great sensation, and the China Securities Regulatory Commission, Shanghai Stock Exchange and Shenzhen stock exchange all attach great importance to this report.

So by the end of 2000, Zheng Peimin suddenly received a phone call. The party secretary and deputy director of the development research center of the State Council Chen Qingtai led a research group to visit Shanghai.

Chen did not know Zheng, but the relevant ministries and commissions of the Central Committee already knew that Rong was making a great deal of voice in the ownership of operators.

In this way, Zheng Shen and Chen Qingtai and Wu Jinglian were the fifteen national ministries and commissions of China's research and Research Group on Incentive and restraint mechanisms.

Prior to that, Zheng Peimin had two times to accompany the CSRC chief consultant Liang Ding Bang to inspect the ownership of Shanghai operators.

Zheng has entered the "official" vision.

This is a good symbol for the gold rush in the restructuring of enterprises.

Why can we now enter the middle level (referring to coordinating government relations in MBO)?

Because Rong Zheng has made so many cases, and has established a brand in the market and has a reputation, so the government is willing to listen to us.

With the approval of many ministries and commissions of the country, then we go to the places to operate, which are second levels.

At the third level, we are investing now. We have introduced a Li Bao capital club. Now there are more than ten financial investors in this club. The introduction of membership system is a bit like the nature of private clubs. We have brought together a group of people who want to make MBO financial investments at home and abroad. The chain of MBO consulting services is now relatively complete.

Zheng knows his course very well.

The list of customers can be covered by the most famous enterprises in China.

As the top five of PC, in addition to Lenovo, founder, Tongfang, Shida and Rong are all involved, it is only a matter of intervention.

In real estate, there are upper housing group, China Housing Group, consumer enterprises have bright dairy industry, Shanghai Jahwa, retail trade has Shanghai friendship and so on.

Among Listed Companies in Shanghai, 90% of the companies that have held managerial shareholding are their clients.

In the whole country, by MBO, there will be about 25 companies coming out in 2003, and perhaps 10 of them are Rong.

Zheng seems to have enough reason to be proud.

The business of "crater" has been on the "crater".

After the publication of the book "the value of knowing this book" by Zheng and his team,

The comment on the Internet is very sharp: "Rong Zheng's development is very fast, and the boss Zheng Peimin is only thirty years old. He is very young. His trick is to make a fortune.

MBO can only achieve the greed of some state-owned executives' ambitions.

Many executives want to be MBO executives.

They have the right but no big money, and their personal desires are inflated.

So how can we make the power in hand become a huge asset?

Rong is strongly recommending that the executives of state owned enterprises do MBO and have a share in it.

This widely circulated comment on the Internet reflects the mentality of the current society: the extreme distrust of state-owned enterprises and even the distribution of social wealth.

This sentiment spreads in the middle and lower classes of society.

And many ugly realities in the pitional period aggravated this sentiment.

Just like the huge controversy caused by Forbes's list of China's richest men, they really show the sharp confrontation between China's reform and the adjustment of deep interests.

In fact, MBO has been criticized from the outset, and the accusation is endless.

Quite a number of intellectuals criticized it severely, and questioned the rationality of the case from Guangdong to the United States.

They want both the rationality of history and the rationality of reality.

In doing this kind of unsympathetic point of view, he has to have a thorough understanding of his role and a deep understanding and traction of deep values.

It is Zheng Peimin's "banner" to excavate the undervalued entrepreneurs' value with the eyes of investment banks. But Zheng Tongsu's "shoe theory" may be more able to show his own standing that he has only been a shoemaker, and a person who makes Nike shoes for entrepreneurs.

Why do you compare yourself to a shoemaker?

"After WTO, we are going to run with foreign athletes, but you find that their athletes are wearing Nike shoes while Chinese athletes are barefoot.

Our entrepreneurs rely on a kind of spirit, a kind of consciousness in work, this is not enough.

The material conditions are so different that the CEO's salary is millions of dollars, plus hundreds of millions of dollars, and millions of RMB in China do not dare to take it out. We are the culture.

After China's accession to the WTO, China's equity incentive will have to compete with foreign enterprises on a runway, but when people wear shoes, we are barefoot, so Chinese entrepreneurs must also wear shoes.

Do you think how big the market is?

95% of entrepreneurs in China do not wear these shoes.

What is the original sin of MBO?

However, the original sin of wealth is magnified and distorted in the current political and economic situation in the strong stratum differentiation.

Some media people have pointed out that the two forces of openness and pparency, black box operation, market value orientation and vested interests have been running through the 10 years of property rights reform in China.

But where is the perfect historical plan?

The biggest problem with MBO is the environment.

This is almost an exclamatory consensus.

In repeated changes in the political trend of the restructuring of enterprises, they are not trapped in the trap of ideology or some kind of doctrine, but also rich in conscious action, which is a critical consideration for the entrepreneurs.

Because MBO wasn't made overnight.

Wang Licheng has been reconstructing HOLLEY for eight years, and so did TCL's Li Dongsheng, even though it was MBO of Heng Yuan Xiang and Liu Ruiqi spent four years.

"But the key is that you need to take the first step". After four years of "crater" career, Zheng made his opinion.

The final success of the TCL Li Dongsheng's Apollo plan is the last baton I did, involving the final share redistribution.

But in the 2002 TCL reform, hardly anyone knew about Zheng's intervention.

In the four years of entrepreneurship, Mr Cheng has been playing a two role behind the restructured business. As a practitioner, Zheng has been promoting many enterprises to plan, practice MBO and gain business interests from them. As a third person (enterprise and government), he has gone deep into the most delicate and complex ecological environment of Chinese enterprises to observe and study.

When MBO becomes a development strategy of Chinese enterprises, the work of Zheng and his team is becoming a part of the layout of China's big enterprises.

The Chinese enterprises in their observation are the image of the real situation.

On the basis of this real observation, Zheng has formed the method and spirit of doing things in this industry.

This determines that in the special pition period, the operation of local MBO is not guided by the perfect scheme, but by the most realistic choice.

In the dialogue with it, we see that everything is concise and pragmatic.

Reporter: what are your basic principles in doing so many MBO cases?

Zheng Peimin: I have a saying that China's operator holdings, whether MBO or other, are the six words summed up by the property rights reform in South of Jiangsu.

The interests of the upper and lower interests, the interests of the left and right, the interests of the new and the old, the interests of the government and the enterprise, and you will succeed if you do not do anything illegal.

We should not be theoretical or idealistic. They should always talk about what we should do. We are talking about how to break the law and implement the plan in every way.

First of all, I recognize the contribution of history. Secondly, I do not touch high-voltage electricity. I do not violate the existing laws and regulations.