Zhang Jindong And Wong Kwong Yu Grudge 21 Years: Red Face To White Face

But in the coming 10 years, there may be subversive changes.

After 21 years of struggle, Zhang Jindong and

In June 19th, Zhang Jindong announced to the industry for the first time in Nanjing.

This is just a fragment of the two people fighting each other since 1990.

In 1987, Wong Kwong Yu, who was 6 years younger than Zhang East, first hung out the signboard of the Gome store at Zhushi Kou.

Three years later, Zhang Jindong set up Suning home appliance company in Nanjing.

In 2000, Suning opened its first store in Beijing in the cold wind.

From this day on, the two southerners unanimously locked the target.

However, the opposite nature of character decides that there is only one winner between Zhang Jindong and Wong Kwong Yu.

At the summit of the 2004 Gome global strategic cooperation, Wong Kwong Yu, a young entrepreneur who was in the face of suppliers, emphasized: "if you can give me something, I will take the lead to support your brand."

If you balance my opponent with Wong Kwong Yu, I will have a way to balance your opponent. "

This statement full of gunpowder did not achieve the deterrent effect. Instead, it made the supplier here unconsciously cast a friendly look at Wong Kwong Yu's opponent.

Obviously, Zhang Jindong's blood supply to upstream manufacturers and the production and production of producers in the off-season not only made Suning seem warm hearted, but also enough to impress all the suppliers who lost their humanity in the brutal market competition.

Wong Kwong Yu, who was arrogant and highly aggressive, did not put this in his eyes.

He relied on his skillful capital operation skills, in the acquisition of Yongle electrical appliances and Dazhong electrical appliances, two times of cross cutting love to defeat Suning.

Zhang Jindong, who could not eat grapes, also said that despite the acquisition of Yongle by Gome, Suning's market value was still larger than that of Gome.

Gome wants to eat Suning.

Wong Kwong Yu's answer is even more provocative: "from the perspective of capital market, the valuation of Suning's stock price should be overestimated, which is divorced from the facts."

In this case, the stock price of Suning fell 5%.

But all this stopped abruptly in 2008.

In 2008, with the Wong Kwong Yu case as a symbol, Suning stepped ahead of Gome.

This time, Chang did not want to leave much room for his opponent to fight back.

Therefore, sunning's plan to build a global enterprise and the plan to sell more than 680 billion yuan in the next 10 years also take for granted.

Red face to white face

On the new year's day of 1987, a 100 square meter shop on the 420 East Street of Zhushi Kou, Beijing's front gate, hung out the signboard of "Gome store".

The shopkeeper is the two brother. His brother Wong Kwong Yu is 18 years old. He has not graduated from junior high school.

He often pushes bicycles to understand market conditions and pushes tricycles to carry goods back and forth.

He was very tired after a day, but he was used to it.

When he was a child, he often broke his food in three days and two days. In order to share the burden on his family, he often collected plastic bottles and old books and newspapers in the nearby towns during the holidays. He could earn two or three yuan a day when he was lucky.

At that time, the home appliance industry was very good and different from the tragic price battlefield in the future.

In this seller's market, many businessmen are waiting for the opportunity to make a big profit. However, the two brothers have been sticking to the path of small profits but quick turnover.

After three years of operation, Wong Kwong Yu, who is smart enough, has seen through the supply channels of the middlemen. He pondered and opened several branches and contacted upstream manufacturers to try to get rid of the middlemen's control over supply and price.

At this time, far away in Nanjing, Zhang Jindong just resigned from the work of Nanjing Howe group.

In the winter of that year, he opened a Suning Electric Appliance Company on the road to Ninghai in Nanjing with 100 thousand yuan, and walked into the cold air-conditioning industry at that time.

In the same year, Wong Kwong Yu and the manufacturers directly worked together to kick off the middleman and set up the underwriting mode for home appliance retailing.

Get rid of the restrictions of channels, and come out at a very young age. Wong Kwong Yu explained the jungle rule to the extreme.

At the 2004 Gome global strategic cooperation summit, faced with suppliers, Wong Kwong Yu said he was unruly and even full of threats: "in fact, no one can get away from us, whoever wants to crush them and who wants to keep them in the palm of his hand is unlikely.

The rule of my work is that you trust me, and I will give you more trust; if you can give me, I will take the lead to support your brand; if you take my Wong Kwong Yu to balance my opponent, I will have a way to balance your opponent.

The scene is silent. In the face of such a strong partner, many suppliers are afraid to go out.

Similarly, in order to lower the purchase price, Zhang Jindong, a graduate of the Chinese department who read Confucian classics, clearly sang a red face. He played a strange trick for dealers to infiltrate into the production field.

In the second years of entrepreneurship, Zhang Jindong provided blood for all entrepreneurs who had never been to swim upstream, that is, production and production support to producers in the off-season to ensure preferential prices and adequate supplies in the peak season.

Zhang Jindong is very proud of the relationship between Suning and the manufacturers, which is unmatched by other dealers.

"Mastering the channel means mastering wealth," he said.

Zhang Jindong's gentle style extended to the company.

After the listing, Zhang Jindong, holding 48% of the shares, gave some of his equity to senior executives, and even the senior executives stationed in various localities owned shares of their branches.

This has also accumulated more popularity for Zhang Jindong.

By contrast, Wong Kwong Yu has become a bare commander.

He is extremely strict with his employees, even harsh.

In the face of Wong Kwong Yu, executives are always in a state of trepidation.

Because they will never be able to meet Wong Kwong Yu's demands.

Even in front of his older employees, Wong Kwong Yu always shows his domineering power and shows authority.

"If it is not for the opportunity to train you, let me personally do business, Gome will be better than now."

At the beginning of his career, Wong Kwong Yu, a young and successful young man, came to prominence in the industry almost alone. He was quite confident and dependent on his ability.

In Gome, control has been firmly in Wong Kwong Yu's hands.

After listing, Wong Kwong Yu personally controlled Hong Kong listed companies China's 97.2% stake in Peng run.

Wong Kwong Yu pferred the 65% stake in Gome, a wholly owned company, to China, and almost all the management of the company was excluded.

Life is a mirror. In return, Wong Kwong Yu, who regards himself as too high, is constantly being squeezed out by his peers.

Some even claim that he is the "underworld boss" in Gome. Wong Kwong Yu does not think he is disobedient, he simply shaved his head.

Eggs and eggs

China's home appliance chain sales industry has been far from being peaceful. Five or six years ago, this field was still a mixed battle among the princes.

At that time, five enterprises were known: Wong Kwong Yu's Gome, Zhang Jindong's Suning Appliance, Chen Xiao's Yongle appliance, Zhang Dazhong's Dazhong electrical appliance, and Zhang Jisheng's triple company.

There are countless other stragglers.

Wong Kwong Yu, the radical and haste hay hero, fired the first shot of the merger war.

Wong Kwong Yu, who knows the law of the jungle, believes that the best defense is attack.

Suning chairman Zhang Jindong is not a lamp for saving oil. He is also looking for his own merger as a hunter.

Huang and Zhang have both unified the trend of China's household electrical appliance chain retailing, thus launching all the way to kill them.

In the face of Wong Kwong Yu's favorable conditions, Chen Xiao, who was scheduled to sign a contract with Zhang Dazhong for second days, was killed halfway and put into the embrace of Gome.

Wong Kwong Yu completed the acquisition in the form of Yongle 5 billion 268 million Hong Kong dollar stock plus cash.

After the acquisition, no matter from the number of stores, sales revenue and profitability, Gome was two times that of Suning. The gap between Gome and Suning stores increased from dozens to 300, and Suning obviously fell into the wind.

However, Zhang Jindong said: "Chairman Chen Xiao of Yongle is my good friend. Through his reorganization with Gome, he and his team have achieved their value". "We will also express our appreciation to Gome, because it has contributed to the integration of China's home appliance chain market and reduced us to a competitor."

However, Zhang will not wait for him to die. This time, he made his first move.

In 2007, Zhang Jindong aimed at the big middle school.

After some discussions, he gave a high price of 3 billion yuan, and only one step away from the signature. Wong Kwong Yu opened up a higher price of 650 million yuan for Zhang Dazhong than Zhang East. The amount of 650 million yuan huge money that had come to hand cramps made Zhang Dazhong hesitate to turn to Wong Kwong Yu's arms.

Second years of Valentine's day, the streets of Ji'nan, Shandong are full of promo Promo promotions, but a Traders Hotel in the west of the city is hidden in swords.

In this sparsely sparse Hotel, 4 companies tried to get the controlling stake of the Sanlian company at auction, including Gome and Suning.

Two times, Zhang Jindong was both nervous and helpless.

In the face of the last piece of territory in the home appliance retailing industry, Zhang Near East must win.

At 9 a.m., the auction began.

Starting from 2.48 yuan per share, the auctioneer increased the price by 0.1 yuan per share, and the price quickly called over 5 yuan. The remaining two companies stopped playing the cards, while Gome Suning was riveting and all the way up to 19.8 yuan shares. Wong Kwong Yu, who was conservative and cautious, was slightly hesitant.

The three road lords were all accepted by Wong Kwong Yu. The expansion speed of Gome's eggs was much higher than that of Suning.

Zhang Jindong could not conceal his frustration: "I do not understand capital operation". "Suning will focus on its own strength."

Wen attack Wu Wei Yu, Wong Kwong Yu and Zhang Jindong are constantly copying themselves.

After more than 20 years of logging and self replication, the number of stores in Gome and Suning last year could sprint 1300.

Suning and Gome don't match each other, and the scope of their influence is interlocking. A street can occasionally see Suning and Gome door to door or door to door.

To clear up opponents, Wong Kwong Yu and Zhang Jindong found that there was only one side left.

Therefore, close combat and close combat are inevitable.

Without a trace of concealment and wriggle, Wong Kwong Yu said he wanted to buy Suning.

At this time, Zhang Jindong, who always showed a gentle and elegant image, also revealed his lofty spirit: "Su Ning does nothing but you, I will give it to you!"

Who is aggressive?

After Wong Kwong Yu was arrested and sent to prison, Suning surpassed Gome as the industry leader in the season.

A strong enemy is bound by his hands and feet. For Zhang Jindong, he can not but say that it is an opportunity.

Here, some of the sunning appliance stores appeared to be celebrating the arrest of Wong Kwong Yu's posters, but let the outside world have more accusations against Zhang.

The struggle between the two is hard to say who is right or who is wrong.

In the merger of Gome and Yongle, the news of many Yongle employees who voted for the United States voted for Suning.

Wong Kwong Yu was furious, but Zhang Jindong disdained to say that despite the acquisition of Yongle by Gome, Suning's market value was still larger than that of Gome.

Gome wants to eat Suning as "having desires but not being able".

After Wong Kwong Yu's successful takeover of the big and medium-sized business, Suning's failed buyer told the media: "although there are more than 60 stores in Beijing, there are no more than 5 influential companies in Beijing.

According to this calculation, the value of Suning should be seven or eight billion, even if the premium is added, it will be about 1 billion yuan.

Therefore, if the purchase price exceeds 1 billion yuan, it is not cost-effective.

This sour grape mentality also makes Gome dissatisfied.

This makes Zhang Near East without jealousy: "home appliance chain is an industry that can not be speculators. We must stick to every step and take time and stamina."

One plus one is not necessarily equal to two, nor is it greater than two.

From the open data, it is useless to rely on doping competition, only internal strength can win.

Zhang Jindong changed his usual mildly image: "I know this market must be our win."

Wong Kwong Yu is not a vegetarian either. "M & A is a necessity for the whole industry to develop to a certain stage.

If some enterprises do not see clearly such basic laws or dare not try, their development prospects are bound to be flawed.

We are much more mature in the industry than any other competitor.

The so-called market value, we think it is a weak point in desperation to find some support points.

Such a spaced confrontation obviously can not satisfy Wong Kwong Yu's appetite.

He further pointed out the war: "from the perspective of capital market, the valuation of Suning's stock price should be overestimated, which is divorced from the facts."

In this case, the stock price of Suning fell 5%.

It surprised the former teacher, Mr. Zhang Jindong.

He said angrily: "who is aggressive, this is a public comment in the industry.

How can we say such irresponsible words to the media with the status and status of Guangyu and Chen?

For the future, their goals are very consistent.

Zhang Jindong said: "the core value of an enterprise is to create wealth for the society.

Service is the only product of Suning.

In the next 10 years, Suning aims to be a world-class company and become an international world-class company.

Wong Kwong Yu said: "I hope Gome will play a leading role in this industry, and even people around the world will change their views on the sales mode of home appliance industry and the different ways to enjoy home appliances because of the existence of Gome."

Some people say that Zhang Jindong is a real entrepreneur and Wong Kwong Yu is just a speculator.

Although Zhang Near East is closer to Confucian businessman, Wong Kwong Yu's existence of suppliers' money to open shop and other issues is similar to Zhang's existence.

Two people also "do not work properly" to involve in the real estate business. In ambition, Zhang Jindong and Wong Kwong Yu may be the same. Wong Kwong Yu and Zhang Jindong are idealistic fighters.

The difference between the two people's fate is not only related to the occasional factors, but also to the character.

Especially in China, which emphasizes modesty, it knows how to hide it and has the amplification function that other character factors do not have.