Interview With Chairman Lin Congying

　　 Joeone Among the top executives, apart from Chairman Lin Congying, the family members also include vice president Chen Jindun (brother Lin Congying's wife), managing director Chen Jiaya (Lin Congying's wife's younger brother), and vice president general Chen Jia poor (Lin Congying's wife's younger brother) holding 30 million 150 thousand shares respectively through Shun Mao investment, platinum investment and wisdom investment, and the market capitalization is 663 million at the time of listing. In addition, Lin Congying's wife, sister Chen Meizhu, held 20 million 950 thousand shares through Chi Chi investment, and the market value was 461 million yuan when the company went public.

In fact, the succession of family businesses has become a common problem faced by the first generation of entrepreneurs in China. Children's interest is not here, and the soil of professional managers has not yet been perfected. China's family businesses are facing the pain of inheritance.

5 years ago, Lin Congying said that the possibility of professional managers to take over the management of the king was 70%-80%. Now, his son is very interested in family businesses. Lin Congying said, "it can be cultivated", but the management team of the nine herd Wang still needs professionalization.

　　 "Family management members will move back".

Reporter: what are the advantages and disadvantages of family businesses in the management of the company?

Lin Congying: family businesses are very good at the beginning of their business. They do not care about paying, do not care about the time, do not care about remuneration, do not care about anything; but to a certain extent, the development of family businesses requires transformation and change.

Reporter: at present, how many family members are there in the management team of 9 Mu Wang? Do you consider the professionalization of management team?

Lin Congying: about half of the family members. In fact, we are already promoting the process of professionalization. One is the professionalization of the management team. The two is that the family management members will move back and let strong professional managers take over more business.

Reporter: in your planning, what will be the process of professionalization of the management team?

Lin Congying: now this system is being built, and these 35 years are gradually improving. The most important problem is the construction of the system and management according to the norms. In fact, we have already planned this system in the early stage, working according to the system and reducing the management of personal randomness.

Everyone in Europe does not want to be a boss, which creates conditions for professionalization of management teams. But China is the opposite. Everyone wants to be boss, which brings differences in management and thinking.

　　 Worries of professional managers

Reporter: does family business introduce professional managers? Will the ownership and management of enterprises conflict?

Lin Congying: the boss looks very bright on the surface, but actually all the boss's happiness index is the lowest. I have no money in my pocket and no time to spend. I think many people are unwilling to become bosses in the future. Now this trend is gradually coming. My children can be shareholders, but they do not necessarily have to be managers.

Reporter: will you be worried about the control of enterprises, similar to the case of Gome?

Lin Congying: the biggest worry is only one thing. In terms of management and management, I have to admit the ability of professional managers. I am a boss, and I may have only one chance in my life. But if professional managers do not have enough perseverance and perseverance, they may change jobs at any time.

For example, business bosses turn their businesses to professional managers, but professional managers may damage the interests of companies and shareholders in pursuit of personal interests. Of course, both sides are responsible for this problem.

Reporter: is there any solution?

Lin Congying: we should improve the system construction and reduce the impact of enterprises. I think we have to go through this process to achieve professional management in Europe. Many European companies have gone through more than 100 years, and shareholders have not known who they are for many times. At home, I haven't seen a successful family business in the management team, but we must go this way in the future.

Reporter: what do you think about the inheritance of enterprises and wealth through family trust in Europe, America and Hongkong?

Lin Congying: I haven't studied family trust yet. Because my stock has not yet been circulated, I can not hold shares through trust. I haven't thought about trusts yet.

Reporter: what are your private banking clients? Will they set up a family business inheritance for you?

Lin Congying: UBS, CICC, Morgan Stanley, HSBC are all, they will give some training to our children, including what responsibilities the successors should undertake, how to improve their abilities and how to change themselves. But it will not tell you how to operate. At the moment, there are still some preliminary and simple things.

The service that private banks give us is more about macroeconomic control and policy trend.

　　 My son is very interested in taking over.

Reporter: at present, you are the actual controller of King Mu, do you plan to get your son to succeed?

Lin Congying: I have three daughters, a son, and now I am not in the company. My daughter does not like this industry, and the ideal is not here. I did not deliberately cultivate my children as successors.

My son is quite interested in doing business. But he is too young to graduate from university next year. He must have the ability to take over. I can train.

Reporter: why do we have tradition after 90? Garment industry Be interested?

Lin Congying: I really knew my son 3 years ago when he just went to England to study and he lobbied me to invest in a KTV in the UK. I think KTV often has young people fighting. It's better not to cook. I can let you try it. Then he made a business plan for me.

I was shocked when I saw that business plan. He used PEST, made a very comprehensive and in-depth analysis of the local politics, economy, culture and technology in the UK, and used DuPont analysis to analyze the company's financial model. The logic of the whole business plan is very clear. He said I wanted to raise money for you.

He was very interested in taking over. A few days ago, he sent me an analysis of the future trend of China's and India's apparel industry by several investment banks such as CICC and Morgan Stanley. He also had some ideas. In the preceding paragraph, he made suggestions with our vice president in charge of sales. It is very insightful to use Xiamen and Zhangzhou to make high salary reform.

Reporter: this generation of young people has not experienced the hardships of your previous generation's entrepreneurship, will they feel less attached to the enterprise?

Lin Congying: actually, when he was young, he looked at me and felt it. Although he went to school in Hongkong before, he would come back in winter and summer vacation. His mind was still eastward and not westernized. He is strong and strong. His sense of belonging is also acceptable. Young people are more open and willing to take responsibility. My son will often argue with me about his ideas and ideas.

Reporter: is your son's succession and the professionalism of the management team contradictory?

　　 Tsung-Ying Lin No matter whether family members or professional managers take over, it can be seen from my point of view. Even if a son takes over, he needs a professional manager. He needs to form his management team.