Wang Hai Let Two Stars Are Privatizing?

This story is just like an old-fashioned TV series. All the conflicts in the story are coincidences under specific circumstances and backgrounds, and the most important background is Wang Hai, the president of the Qingdao double star group.

In 1941, Wang Hai was born in a small village on the lakeside of Weishan in Shandong. In 1974, Wang Hai became the director of the Political Department of the nine rubber factory in Qingdao (later renamed Double Star Group), deputy secretary of the Party committee and director of the political department in 1976, and served as the party secretary in 1983. Since then, the double star Wang Hai era has been started.

Over the past 30 years, Wang Hai has carried out his pursuit of value in the small business of Qingdao's twin star, and has made Qingdao double star develop into a diversified enterprise group from a medium-sized loss making company with a single production of yellow rubber shoes. At the same time, it has become the first listed enterprise in China to make shoes as the main business.

We should say that Qingdao's achievements today are inseparable from Wang Hai's contribution.

In Qingdao double star, mentioned Wang Hai, everyone is respectful and respectful, but can be endless, is definitely Wang Hai's great achievements.

An official in Qingdao said more clearly that "there is no double star without Wang Hai".

Such a culture is actually the most proud of Wang Hai.

In Binxing group, the strategic decision of the company is Wang Hai, like "general" on the battlefield, and the appointment and removal of personnel is almost entirely in accordance with Wang Hai's thought; even Wang Hai has publicized that "double star is Wang Hai and Wang Hai is a double star"; and such slogans and slogans are glittering on the wall of the building of the double star group building, which makes every visitor feel the great and strong Wang Hai.

As a result, Wang Hai has also created a miracle of the position of the president of the double star for more than 30 years.

The MBO story of Wang Hai is the combination of his strong personality and ingenious thinking.

In February 17, 2008, the Spring Festival just passed. Double star Chengdu science and Technology Development Co., Ltd. (hereinafter referred to as Chengdu double star) received a document from the Twin Star Group. It explicitly called for 51% stake in Qingdao double star holding Chengdu double star.

This document makes Chengdu double star somewhat surprised, because Chengdu double star and Qingdao double star are both under the banner of "double star", but in fact, the two have no connection with any equity, debt and debt.

Chengdu Binxing is a private enterprise established after the overall restructuring of the former Qingdao double star sales company. However, it still acts as an agent in the sale and sale of shoes and clothing products with double stars.

Nevertheless, Chengdu double star replied in February 19th, saying that "the feelings of the two star brands remain unchanged, and insist on being a double star". It only requires a clear definition that the holding body is a two star group or a twin star industry limited.

It did not think that the requirement of this clear holding body had caused "trouble".

February 23rd, the Chengdu double star received the double star group green double star hair word (2008) 8 red head document, immediately relieved the double star Chengdu science and Technology Development Co., Ltd. to continue to use the double star trademark, not to operate the double star product.

"According to the approval of the Qingdao municipal SASAC, the group has authorized the operation rights of shoes and clothing products to Qingdao Double Star Industrial Limited by Share Ltd. After being terminated, your company should cooperate with the Qingdao Double Star Industrial Limited by Share Ltd (hereinafter referred to as" two star celebrities ") to do the pfer work of the market.

Immediately after that, double star celebrities sent a notice, "our company shoulders the sacred mission of" doing well the maintenance and cultivation of the double star brand, and realizing the double star brand re appreciation ". The company decided to award only the regional operation rights of the double star products to our holding company (holding more than 51%).

If your company wants to become a general agent for the two star products in the southwest region, we should negotiate with our company within 3 days from the date of receipt of this notice.

Two tough wording documents of the group and celebrities suggest that Chengdu binaries must pfer their controlling shares to double star celebrities.

In fact, the reason why the Chengdu double star executives feel puzzled is why the two star group issued a request for double star celebrities holding.

And why is it so urgent?

Executives of Chengdu's twin stars are very curious.

But the development of events is far beyond the imagination of Chengdu's twin stars.

In March 18th, the double star group issued a green double star [2008] 12, 13 and 14 red head documents to the agents and chain stores in the southwest region of the two stars, reiterated the lifting of the brand authorization of the Chengdu company. The Group officially authorized the two star celebrity company to open a new logistics platform in Chengdu, and asked everyone to contact the new platform.

This means that the double star group is promoting double star celebrities to seize the network resources of Chengdu company.

The reason why Chengdu double star is dissatisfied is that double star celebrities are also truly private enterprises. The president of Binxing group, Wang Hai, is the largest shareholder, accounting for 21.88% of shares and chairman of the board of directors. 5 people from Binxing, including Wang Hai, altogether hold 46.78% of celebrity industry. Why do they ask such enterprises to hold themselves?

And why do groups work so hard for the benefit of double star celebrities?

What is more suspicious is that the documents say that the two star company is a group enterprise. In fact, the restructuring plan of the double star group has already indicated that the group will sell 16.5% of the famous industrial shares, and the celebrity industry will become a company that is fully controlled by Wang Haihe and Qingdao's twin Star executives. There will be no property relations between the listed companies Qingdao Binxing and celebrity industries.

So anxious and tough means that people can not help but think of the media has long been rumor about Wang Hai's privatization strategy.

The alternative MBO?

In order to safeguard its legitimate rights and interests, southwest binaries submitted an emergency report to the Qingdao SASAC and the Qingdao Municipal Committee, requesting the government to conduct an investigation.

Tracing the economic dispute and investigating its behind the scenes content, we can see the shadow of "privatization" that Wang Hai led the two stars.

In fact, Wang Hai's actions are all very concealed and fragmented. Each plot seems to have little direct relationship with privatization. But with all the events interrelated, we found an alternative MBO "jigsaw puzzle" that bypassed the law.

What is worth praising is that Wang Hai's strategy has not focused on fixed assets such as machines and factories, but rather cleverly applied to intangible assets such as trademark brands and so on. With the operation platform of state-owned enterprises, through a series of moves and maneuvers, once the actual control of brands and networks has been completed, it is natural for us to start a new business and build our own binary stars.

Brand identification "stealing"?

In January 12, 2008, the double star group issued a notice: "we request that all theaters, logistics platforms and agents should be renovated, except that new chain stores must be renovated according to the new chain store door design plan. The original chain stores must be renovated and replaced according to the new door design plan in a phased and planned way. This work is required to be completed before June 2008."

However, the group's uniform logo is no longer the two small stars before, but a bird that is replaced by a "W" shape. This logo is not the brand logo registered by the double star group.

According to the insider, "double stars" was first identified as "China famous trademark" in 1995.

Since 2000, the trademark "Wang Hai", "WANGHAI" and "W" (resembling birds, which are registered in the first letter of Wang Hai Chinese phonetic alphabet) have begun to apply to the State Administration for Industry and commerce. These trademarks involve a total of 48 categories, including shoes, clothing, sporting goods and small commodities.

According to the insider, "these trademark applications are registered by Wang Hai, President of the double star group. After pferring these trademarks to Qingdao Binxing celebrity company, the famous company handed it to the Binxing group. After that, the brand logo of the two stars changed from the original two stars to a small bird. The original double star trademark almost completely withdrew from the public view."

"In 2002, the replacement of the brand name VI system was updated, but in essence it marks the pfer of trademark ownership. The large number of advertising investment of the Bi star group every year is essentially used to promote celebrity trademark."

The insider told the author, "therefore, we can see the brand chaos of two small stars and birds coexisting in all the product labels of the double star group.

Once Wang Hai retire from the position of president of the group, it will mean that the two star group can not continue to use the trademark and logo of the double star celebrities, and the advertising input of the two star group has made a wedding dress for others.

Main business "golden cicada"?

According to the analysis of the industry, if the brand identification is the "masterpiece" of Wang Hai, then the stripping of the footwear business from the listed company is a stroke.

Wang Hai indirectly acquired the ownership of the trademarks of listed companies. However, if we want to excavate gold mines in a familiar field of operation and not arouse public investors' doubts about competition in the same industry, the most simple solution is to peel off the original main business.

In 2001, Qingdao Twin Star, a shoemaking shoe manufacturer, entered the tire industry in 2001 by merging the local tire production giant, Huaqing tire Industrial Corporation.

In 2003, the Qingdao double star board stressed that the development strategy of enterprises is to invest more in the tire industry. Since then, the company's main business has been expanded from single cold sticky footwear manufacturing and sales to the manufacture and sale of rubber tires and other products.

The introduction of new business has also made foreshadowing for footwear production.

In April 24, 2006, the board of directors of the Qingdao double star decided to pfer the footwear assets to the associated star company.

Qingdao bins sell cold sticky shoes, including housing, machinery and equipment, construction projects and land use rights.

After consultation, the pfer price is set to be assessed at a net value of 110 million 159 thousand and 800 yuan.

The reason why the shoe industry is faded from the shoe industry is that the competition in the shoemaking industry is fierce and profit margins are falling. Avoiding potential competition and reducing related pactions will help to concentrate on strengthening and strengthening tire business.

In fact, many people who sell double star products do not think much of the NPC. A dealer in Lanzhou said that although the shoes and clothing products were highly competitive, but because Qingdao double star was located in the two or three line city and evaded the fierce competition in the mainstream channel, the development of shoes and clothing business was very fast, almost every year increased by 30%.

This is also confirmed by the performance of Chengdu's twin stars.

"After the restructuring of the southwest region in 2004, the enterprises developed rapidly, and the number of outlets increased from 300 to nearly 3000 in late 2007, and most of them came from the franchisees.

If there is no profit support, what will the franchisee recognize the brand?

In the interview, president Zhu Ning of the double star group also said, "many people who make double star products have made money, and the two stars have become rich people's production line."

On the one hand, people who make shoes and clothing products make a lot of money. On the one hand, the profits of listed companies' shoes business are declining. What is the problem?

In Qingdao's double star industries, tires and shoemaking are the first and second largest industries respectively. In the first half of 2007, the main business revenue was 1 billion 723 million yuan and 164 million yuan respectively, with gross margins of 8.49% and 15.15% respectively.

This shows that although the footwear industry is in a highly competitive market, gross profit margins are still higher than the tire business.

The two star group's assets are divided into two parts: one is the cold sticky shoes of listed companies, and the two is the vulcanized footwear business of celebrities.

In contrast, the cold sticky shoes business has a heavier weight.

Information shows that in 2005 only southwest double star sales amounted to 500 million, rough check of which vulcanized shoes at least more than 200 million, in 2007, southwest double star sales amounted to 700 million yuan huge, we can imagine the total number of Qingdao double star sales network in the country.

And behind this seemingly rapid loss, is there a surprising profit that has been hidden?

Despite the various doubts about the legality of the sale of footwear assets by Qingdao's twin stars, Qingdao's SASAC has once been involved in the investigation, but has not yet prevented the spin off of Qingdao's double star's footwear assets.

In January 3, 2008, Qingdao double star announced that: the asset paction pfer certificate issued by the Qingdao asset trading center, the 128 million 440 thousand and 800 yuan footwear business assets of Qingdao double star has fulfilled the procedures of recruiting, photographing and hanging. Celebrities will pay the above payments three times before December 31, 2008.

From then on, only one single tire manufacturing and selling shell was left for Qingdao's double stars. The golden cicada fled to the famous industrial stock company, and the pair of star shoes that started on it will be stripped off the listed companies.

"Double star celebrities" redeemed?

He has the right to use the brand in a real sense. In the case of the double star group, the two star celebrities completely broke up with the Qingdao double star and the two star group.

Double star celebrity Industrial Company, founded in September 16, 2002, has a registered capital of 31 million 530 thousand yuan.