The Pmigration Of Gome: Zhang Dazhong, The New Shopkeeper

Wong Kwong Yu took a step to roll the gun.

In March 9, 2011,

In August last year, Wong Kwong Yu made five proposals in prison, including revoking the allotment, revoking the chairman and executive director of Chen Xiao and Sun Yiding, appointing Zou Xiaochun (micro-blog) and Huang Yanhong as executive directors.

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Then, in March 28th, Gome signed the signature.

However, compared with the annual report released by Suning Appliance (12.94, -0.19, -1.45%), "old rival", Gome's performance is much worse.

In 2010, Suning Appliance's 1342 stores realized operating income of 75 billion 505 million yuan, up 29.51% over the same period last year, and realized net profit of 4 billion 12 million yuan, up 38.82% over the same period last year.

Gome's net profit has been less than half of Suning.

Just after a battle of power, in the face of such achievements, can the new leader Zhang Dazhong lead Gome to glory?

Who is Zhang Dazhong?

Founder of Dazhong electrical apparatus.

In the winter of 1980, Zhang Dazhong made 60 sets of floor lamps in his own kitchen, making a profit of 160 yuan.

In 1989, Dazhong Electric Appliance was established and its sales volume was 8 billion 700 million yuan in 2006.

Over the past 20 years, Dazhong electrical appliances have been taking root in Beijing and developing in North China.

And it occupies 50% of the market share of Beijing electrical appliances sales, and becomes the only electrical appliance chain store covering Beijing inner city, community and outer suburb county.

Zhang Dazhong, who was born in Beijing, is said to be "the third senior high school student". She once joined a queue in the countryside of Beijing suburb, and was assigned to Haidian District Beijing supply and Marketing Cooperative in 1972.

In early 1989, Dazhong audio company, which had a business area of only 10 square meters, opened for sale in Xidan, Beijing. It was the first store of Dazhong electrical appliances.

In 1999, Dazhong electrical appliances officially started as an electrical Monopoly chain store.

2005 is the peak of prosperity.

This year, Zhang Dazhong, 58, initially established the idea of national expansion.

He sent more than 10 expedition missions in order to occupy the national market with heavy gold and expand the territory of the great and Middle China.

This year, the sales of Dazhong and Beijing stores accounted for 40% of the market, equivalent to the sum of Gome and Suning.

As far as Dazhong Electrical Appliance Co., Ltd. has deeply ploughed the Beijing market, the annual sales volume has broken through 10 billion. Meanwhile, the other three home appliance chain enterprises have already formed the encirclement potential.

Later, in the four year of Zhang Da Zhong, the Gome, which entered the household appliance sales in Beijing, took Beijing as the center and spread the chain stores nationwide. In 2002, it successfully listed and became the most powerful rival in the market. In 1996, Chen Xiao, who rebuilt the Yongle brand, and 40 colleagues who worked together in Shanghai for two years stood firm in Shanghai. In 1990, Suning boss Zhang Jindong, who sells air-conditioned products, went to the helm of the chain appliance store in 1995. He took Nanjing as the hinterland and quickly conquered other cities.

Although China and the United States have made impressive achievements, according to a manager in a large and medium-sized enterprise, with the increase of the scale of enterprises, the shortage of talent reserves, the imperfect management system and the lack of effective supervision mechanism within the company have been exposed.

In addition, private enterprises generally exist in a mouthpiece, decision-making arbitrarily too strong, and other issues in Dazhong electrical appliances.

At that time, Zhang Dazhong was overindulged in the number and turnover of fast-growing storefront. It was said that he simply believed that Dazhong electrical appliances could be developed into so-called "China's first business group" by introducing highly educated and high-quality managerial talents.

The inherent problems are in sharp contrast to the brilliance of external sales. In the face of such a situation, three years before the retirement age, Zhang Dazhong began to think about how to sell his hard built businesses.

The first rumor was that best buy wanted to buy Dazhong electrical appliances.

By April 2006, Yongle and Dazhong signed a strategic cooperation agreement. The two sides plan to complete the merger within one year through the way of equity replacement. After the merger, they will produce the third largest household appliance retail enterprises in China, and have the strength to oppose Gome and Su Ningliang electric appliance predators.

In order to express sincerity, Yongle even paid the "combined margin" of 150 million yuan.

To Zhang Dazhong's surprise, Yongle announced that it would be less than 3 months after the announcement of the takeover of the company, and that he himself was coveted by Shanghai's long Gome.

Things suddenly changed.

Big and medium want to sell but can not, Yongle wants to buy but powerless, Gome attitude wavering, Suning cold treatment, best buy cross the foot to make this acquisition drama effect continuously.

Wong Kwong Yu said he was interested in big and medium. Chen Xiao told the media that he could not make friends with him. Zhang Jindong commended him on retirement age.

For these, Zhang Dazhong was extremely secretive.

People close to Zhang Dazhong said that the internal affairs of enterprises should be decided by Zhang Dazhong himself.

More than 20 years of struggle, and 20 thousand of the large group of employees are tortured.

Some people say that Zhang Dazhong is old. Some people say he is tired. Some say he hopes to be hurt in the repeated encounter with Yongle acquisition.

Originally wanted to compete with Yongle and strong to compete with Gome and Suning, now they are left alone.

All it can do is wait for the next merger.

At this time, Dazhong Electric appliance is selling between Gome and Suning.

Because the leadership style is always hands-on, Dazhong electrical appliances did not establish effective management and supervision mechanism, nor did it cultivate enough successors to win the battle. Therefore, the sale of Dazhong seems to be the only way out for Zhang Dazhong.

Finally, in December 2007, Zhang Dazhong achieved his long strategic choice of "self development, preferable combination".

The Gome holding company, which has been listed in Hongkong, has obtained the exclusive management and operation rights of Dazhong electrical appliances through the bank's entrustment of loans to the independent third party, and the purchase price is 3 billion 650 million yuan.

The acquisition completed the great integration of the domestic appliance market.

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3 billion 650 million plus Yongle paid 3 billion 800 million of the 150 million and 60 year old Zhang Dazhong because he failed to fulfill his obligation to purchase.

Do you want to retire from rivers and lakes to enjoy your old age?

Obviously, Zhang Dazhong had a new plan.

Chen Xiaohe and Zhang Dazhong were brothers in trenches just a year before the acquisition of Gome.

Today, Chen Xiaoyao became the president of a rival company, which made Zhang Dazhong feel frustrated.

In fact, Zhang Dazhong's conservative character is one of the reasons leading to the merger of the big and the middle.

He believed in the "how much money to do big business" and "no diamond without porcelain" and other business principles, making Dazhong electrical appliances in the development process missed the opportunity to scale and capital operation.

Zhang Dazhong, one of the three acres in Beijing, was unable to keep pace with the progress.

For the sale of large and medium-sized enterprises, Zhang Dazhong, who has been following the company for many years, sighs "he is really old."

Compared with Wong Kwong Yu of the Gome (born in 1969), Yongle's Chen Xiao (1959 born man), Suning's Zhang Jindong (born in 1963), Zhang Dazhong born in 1948 did not have the advantage of age, but was that why he had no intention to fight?

If the fourth largest position in the big and middle market ranks third, Yongle can form a triple stand with the US and Soviet Union. Now, the removal of Yongle into the top three of the three armour will not be able to form a powerful restraint.

This point is clear in Zhang Da Zhong.

In December 2007, Gome announced its hosting.

It is worth noting that in June 2006, Zhang Dazhong took out 1 hundred million of capital and registered a new company, Dazhong investment Limited by Share Ltd.

All this came so fast as if it had been planned for a long time.

Dazhong investment Limited by Share Ltd will be a company that concentrates on venture capital investment, merger and acquisition, listing and other businesses, focusing on Beijing's urban infrastructure construction, cultural construction, new technology development and other fields.

In particular, the people's livelihood enterprises and deficit state-owned enterprises concerned by the government are not only exporting funds, but also, by exporting talents and output management, reintegrating enterprises into serving the people and sharing concerns for the government.

Zhang Dazhong's new choice is quite meaningful. Instead of relying on capital operation, he lost the opportunity to develop the venture capital, instead, he joined the venture capital industry.

Is Zhang Dazhong's conservative suited to the industry that has just begun in China?

In this regard, he seemed full of confidence: "when the big and medium-sized companies started their business, they started with a floor lamp selling 6 yuan, and created a big and middle electrical appliance.

Now the situation of big and medium investment is not known how many times better than 20 years ago.

Beijing is still the base for Zhang Dazhong's two venture.

On the basis of the familiarity of the market and the resources behind it, Zhang Dazhong really has some advantages.

Many senior executives before Zhang Dazhong also joined in the big and middle investment with Zhang Dazhong.

However, entering an industry far away from the electrical appliance sales industry is undoubtedly a zero start for Zhang Dazhong and his team.

In recent years, there are quite a few entrepreneurs who have retired from successful enterprises to venture capital industry, and these venture capitalists have formed their unique investment ideas because of their entrepreneurial experiences.

Zhang Dazhong's 25 years of entrepreneurial experience has been a great asset for him.

The sum of this wealth with 3 billion 800 million real gold and silver may be the biggest consideration for him to choose this investment industry.

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Since Zhang Dazhong took over the Gome, there has been a lot of heated debate.

In fact, when Wong Kwong Yu and Chen Xiao struggled to fight in August 2010, there was news that Zhang Dazhong was expected to help Wong Kwong Yu solve the financial difficulties.

The News quoted Wong Kwong Yu's sister Huang Xiuhong as saying that Wong Kwong Yu's bid to buy Dazhong electrical appliances made Zhang Dazhong feel "enough".

Perhaps it was out of an unpopular feeling for the big China or the United States, and at the invitation of Wong Kwong Yu, Zhang Dazhong came back.

It is worth noting that in the acquisition of Dazhong electrical appliances, Zhang Dazhong signed a "competition avoidance agreement" with Gome, which will no longer enter the field of home appliance chain in the future.

However, since then, Zhang Dazhong has been involved in the appliance industry under the cover of his newly established investment company.

Nowadays, it is hard to avoid a lot of speculation when we go back to the appliance industry.

On the day of assuming office, Zhang Dazhong indicated that he had a very good relationship with Gome and was very familiar with the management of Gome. At present, the management of the Gome is stable, even if there is a flow of personnel, it is also a normal situation.

For the development of Gome, he said this year's top priority is to accelerate the pace of expansion and increase the speed of opening stores.

This coincides with the expansion strategy of major shareholder Wong Kwong Yu.

After the first public appearance, Zhang Dazhong flew to Brazil with his family immediately.

Can Zhang Dazhong be qualified as chairman of the board of directors of Gome?

Some analysts believe that from the perspective of capability, Zhang Dazhong and Wong Kwong Yu both start from the retail market, while Dazhong electrical appliances is a regional brand and Gome is a national brand.

The two requirement is different for managers.

On the other hand, Zhang Dazhong's parachuting to Gome as an "alien character" is also a question of how to win the top management of Gome. After all, the corporate culture of Gome and Gome in his time is different.

At the beginning, Lenovo bought IBM personal computer business, which led to the resignation of many IBM employees in China.

Optimists believe that in the past few years when they quit the industrial commercial sector, Zhang Dazhong quickly moved on to the top floor in venture capital and securities capital operations. Not only did they gain more profits than the original big appliances, but also became familiar with the way of financial capital to integrate the electrical appliance industry, and its sustainable investment ability was predicted by the media and even reached tens of billions of dollars.

In addition, Zhang Dazhong is a good choice for all stakeholders of Gome.

Although the dispute between Gome and the US stock market has come to an end, the company's share price performance is still not optimistic.

Influenced by Chen Xiao's departure message, Gome shares fell for a long time.

Liu Buchen, a senior home appliance expert, believes that the stock price change is based on established judgment, because high-level personnel changes will inevitably affect the management of the company in the short run.

In the long run, Chen Xiao's resignation has both positive and negative effects on Gome.

If a large shareholder chooses Zhang Dazhong or others to serve as chairman of the board, the relationship between management and major shareholders will be more harmonious and communication will be more effective.

How far can Gome's Zhang Dazhong era go? There are also many variables that do not control itself for Zhang Dazhong.

The industry market, the external politics and the policy environment are scattered; in the shareholder matrix, the shareholders' parties agree with each other about the new Gome strategy they draw; and how effective the new management will be for the new rules of the game is a potential variable.

In addition, as far as Zhang Dazhong himself is concerned, there was a rumor in the past few years that it was a temporary pfer of interest in the interests of the Gome, or did it reopen the brilliance of the appliance industry?