Wenzhou Encourages Enterprises To Go Public, Innovate And Develop "Wenzhou Mode"

"10 years ago, Wenzhou enterprises were faced with the situation of" fast fish eating slow fish ". Today, we have embarked on a way of" lion eating tiger ".

Chen Zengxin, deputy general manager of Kangnai group, said.

The Wenzhou shoe giant, which is playing the brand at home and abroad, is considering listing as soon as possible, leveraging the capital market to achieve the dream of multinational footwear enterprises.

More than a year ago, Wenzhou enterprises were far away from the capital market.

What caused them to make such a big change in just one year?

The temptation of capital Rubik's Cube: August 16, 2007, Wenzhou private enterprise Shenzhen wedding bird clothing Limited by Share Ltd listed on the stock exchange of Hong Kong.

The Wenzhou municipal government has specially organized more than 30 key Wenzhou enterprises to travel to the scene.

The two cities in Shenzhen and Shanghai are bullish.

On the day of the opening of the wedding bird, the stock jumped 45 yuan, nearly 4 times the issue price, and the total market value rose from 1 billion 200 million yuan to 4 billion 320 million yuan.

This scene took the Wenzhou bosses in front of the Shenzhen Stock Exchange to show their eyes dumbfounded.

Under the good news bird effect, the boss of the observation company regrets that he has to go back to make the enterprise reform and listing.

Wenzhou private enterprises started from leather and clothing, and formed the advantage of monopoly.

The capital adequacy of Wenzhou enterprises has always been a negative attitude toward listing.

After all, on average, we need to pay nearly 2 million yuan in sponsorship fees, and we should publish our own business situation after listing. This makes Wenzhou enterprises, which are not short of money, and are accustomed to family management.

However, the huge wealth effect suddenly erupted in the capital market has stimulated the nerves of Wenzhou's private enterprises in less than two years.

Comparing Hangzhou with more than 40 listed companies, there are more than 20 listed companies in Shaoxing. Wenzhou had only one listed company before the first half of 2006, and it was still listed overseas.

Aware of the great temptation of the capital market, from the second half of 2006 to August 2007, the 4 enterprises of Huafeng spandex, Ruili group, Huayi Electric Company and newspaper bird were listed on the market, which triggered a boom in the listing of Wenzhou enterprises.

"We will be able to raise 1 billion 200 million of the list of birds on the market, not counting the market value. How long will it take to make the product?"

Chen Zengxin said.

Under the demonstration effect, Wenzhou enterprises began listing training as a top priority since last year.

According to the data provided by Wenzhou finance office, the listing of Wenzhou enterprises is taking shape under the stimulation of listed companies such as news birds and so on. Besides the dozen enterprises preparing for listing, the number of enterprises planning to go public has exceeded 50.

The preliminary estimate of the Wenzhou municipal government is that in 2010, the total number of listed enterprises in Wenzhou is likely to reach 30.

These enterprises, which are concentrated in leather goods, clothing and small commodities, will gradually form a "Wenzhou plate" with strong regional economic characteristics in the domestic and foreign markets.

Under the pressure of enterprise survival crisis, the biggest stimulus to Wenzhou enterprises is BELLE International's listing in Hong Kong.

In May 23, 2007, BELLE was listed in Hong Kong and its total market capitalization broke through HK $52 billion 300 million, becoming the largest mainland retail listed company in the HKEx, and making BELLE enter the top ten of the world's footwear industry.

BELLE's successful listing has made Wenzhou shoe enterprises realize that the integration stage of the domestic shoe industry's survival of the fittest has arrived.

If the former shoemaking enterprises can also rely on technology, design and marketing to create a world, then enterprises that have no capital market support can only be merged by larger enterprises today.

We can feel deeply about their worries about the future growth of enterprises in Wenzhou.

Wenzhou CHINT group, a leading low voltage electrical appliance company in China, has already set up a A share listing plan, and will be listed in Shanghai.

The head of well-known enterprises in Wenzhou has seen the most recent stock market financing.

A person in charge of the listing Office of Wenzhou said that although many private enterprises in Wenzhou are now the leading enterprises in the industry, if they can not make use of the stock market in time, they may be eaten up by catching up companies in the future.

This survival crisis is the main reason for Wenzhou enterprises to pay more attention to the capital market for more than a year.

Wang Jianman, Secretary of the Wenzhou Municipal Committee, talked about the role played by the government in the listing of enterprises. It was considered that listing is like adding a powerful engine to enterprises, which has injected a strong impetus for the sustainable development of enterprises and leaping development.

Wenzhou should take the listing of enterprises as an important way to innovate and develop the "Wenzhou model" to achieve Wenzhou's "third leaps".

"We hope that enterprises will know that listing money should not be the purpose of enterprises," said the staff of the Wenzhou listing office's listing office. Listing can make Wenzhou private enterprises bigger, but the most important thing is standardized operation, from family management to modern enterprise system management, so as to make a qualitative leap in Wenzhou's enterprise groups.

Local officials have summed up the image of supporting enterprises to be listed as "pushing up the horses and sending them another journey".

The Wenzhou municipal government has promulgated that the government of the same level will give enterprises a reward of two million yuan for the listing of enterprises or the implementation of backdoor listing and the registration of listed companies to Wenzhou.

The government will also give preferential treatment to land used for restructuring and listing enterprises in terms of land use and taxation.

With the support of the local government, domestic and foreign listing guidance agencies are pouring in.

Representatives of the Wenzhou stock exchange also made a special trip to Wenzhou. They contacted more than 100 well-known enterprises in Wenzhou and invited them to go public.

In order to provide better listing services to enterprises, the Wenzhou municipal government set up a finance office in August 2007. One of the main tasks is to promote the listing process of Wenzhou enterprises.

Zhang Zhenyu, director of Wenzhou financial affairs office, analyzed that Wenzhou private enterprises had gradually moved to the stage of capital competition from original product competition to brand competition.

The listing of enterprises can not only solve the funds needed for development, but also provide a stable and long-term financing channel for the sustainable development of the company, so that it can become a public company and enhance its popularity. At the same time, it will improve the corporate governance structure, lay the institutional foundation for the long-term healthy development of enterprises, and enhance the competitiveness of enterprises.

You Xiaoping, chairman of the board of directors of Huafeng Group, thinks that "listing has made Huafeng a leap from family businesses to modern public companies."

Chen Daorong, chairman of Huayi Group, believes that "some doctoral students and masters are more willing to come to work in our company."

According to statistics, there are 5757 Enterprises above Designated Size in Wenzhou, and 29 enterprises are among the top 500 private enterprises in China.

Leading enterprises in the industry grow at a rate of 50% per year, and urgently need capital market financing support to speed up capacity expansion and brand building.

In Wenzhou, traditional clothing, leather shoes, lighters, low voltage electrical appliances and other industries have already occupied the domestic industrial advantages, and there are a large number of enterprises in the second tier.

Wenzhou has repeatedly reminded enterprises such as the introduction of corporate listing at many times that the listing should be listed as an effective means rather than a goal, and a correct view of the role of capital market in the development of enterprises.