Transformation And Innovation, Seeking Wenzhou Listed Companies To Survive In Adversity

Beijing's Olympic cable equipment project, xingle group, which is worth about 180 million yuan (RMB, next to about 36 million yuan), is a family business like Wenzhou's big and small businesses.

However, after six or seven years ago, the company changed its new manager Yu Wen pin to usher in a new style of work. Its management rights and ownership fell on the two batches of different hands: the professional manager employed brought technology and new thinking, and was responsible for daily operation and management. Wages were the return of their ability; major problems were still decided by Directors' decisions or at shareholders' meetings, and the return of shareholders was the dividend of the company.

In other words, the shareholders of the company can be ordinary employees, and their executives are salaried people.

However, there is no problem in doing so. Yu Wen pin (38 years old) said that shareholders were aware of their actions by restricting their superiors by power, making management lack of "clean strength".

In order to make corporate governance more standardized (especially regulating shareholders' behavior), the Group Chairman and president is actively preparing for the listing of the company.

In his office in Liushi, the "capital of electrical appliances" in Wenzhou, Yu Wen pin said with earnestness: "there are many potential risks in irregularities, and non-standard companies go bankrupt faster."

In the early 90s of last century, Yu Wen pin's father Yu Jie joined three brothers to invest in building cables.

Yu Yijie thought wishfully that he would be able to speak as an elder brother.

To his surprise, there were serious disagreements within the enterprise within a few years.

In 1995, the cable factory was divided into two parts. Yu Yi Jie and one of his brothers went to Liushi to rebuild the xingle cable company. After a few years, the two brothers were in conflict again.

The two separation made Yu Yi Jie suddenly realize that he was not able to run an enterprise according to the economic laws, even if he was a brother, it would be very difficult for long-term cooperation.

He also clearly understood the truth. He pointed out that xingle sales last year reached 7 billion 100 million, but the rapid development brought new problems.

"We are from small businesses, a good employee is not necessarily a good manager, we must make a large internal adjustment."

More than 10 employees have left since taking office. Yu Wen pin is not shy about this.

"Today, the company has left a senior executive. He has a high degree of technology, but he loves to play the role of power, and he is too poor to communicate with his colleagues and subordinates.

Employees can choose enterprises, and companies have the right to choose employees. I dare say: employees can enjoy three years' hardship with the company, and they will enjoy 30 years of happiness.

In view of the fact that the company lacks talents, he is unwilling to rush to seek listing abroad. He also hopes to attract advanced and excellent talents through listing and achieve brand benefit.

"To be listed, the company has to undergo a large-scale review and audit to enhance credibility.

Moreover, through stock trading, the company can get a lot of publicity from the analysis of the rise and fall of the stock, and it is the promotion of the brand.

The last goal of the listing is financing. "

Recently, Chinese and foreign media have reported that many foreign enterprises in Wenzhou are in a predicament for various reasons, including raw material prices and labor force rising, China's export tax rebate reduction and RMB appreciation.

Zhou Dewen, President of Wenzhou SME Promotion Association, said that about 20% of the enterprises were in stoppage or semi stoppage.

For example, last year, there were more than 3000 fasteners (hardware) industries in Wenzhou, and only more than 1900 remained in this year's statistics, and at least 20% of the small and medium enterprises in the garment industry were in a stoppage or semi stoppage.

In addition, the Wenzhou shoe leather industry association report shows that in recent months, there are more than 70 shoe factories in Wenzhou.

Nevertheless, Yu Wen pin should not be afraid of having the same environment as his colleagues. He also points out that more problems can be solved through more analysis and research and joint efforts with relevant government departments.

In 2006, in the face of two or three times the rise in international copper prices, xingle group developed a copper clad aluminum cable, which produced at least half of its copper consumption and reduced its cost by two to 30%.

Zhou Dewen told the newspaper that listing and innovation are the two ways to reverse the evil trend of Wenzhou enterprises.

He said: "in fact, Wenzhou enterprises are making various attempts, including listing, so Wenzhou people are very cold on the stock market. Wenzhou people do not speculate in stocks.

In the past few years, few private enterprises in Wenzhou have been listed, and now four private enterprises are listed, including overseas listing or domestic backdoor listing.

He explained that Wenzhou people have been engaged in manufacturing, and they like to do things that are visible and touching.

"For example, buying a house, no matter how the housing market changes, the key is very comfortable in its pocket, but the stock market is just a piece of paper."

However, in the face of national macroeconomic regulation and control, and with the awareness that listing can get a lot of capital from the capital market, it can make the industry stronger and bigger, and introduce new technologies. The enthusiasm of Wenzhou listed companies is soaring.