Zheng Yonggang: Investment Logic From Industry To Finance

Zheng Yonggang, 57, is no longer the famous businessman who wears "Shan Shan suit". His role is more like an active investor. In 1989, he founded the Shan Shan suit, Zheng Yonggang from clothing industry to lithium battery materials, and then to buy rare earth mines to enter the upstream industry. In recent years, he has invested a lot of money, not only in banking and insurance, but also in futures, equity investment, venture capital and other businesses through a number of private equity funds and Vc firms.

He likes to do things that others have not done, and "to make a mountain out of nowhere". So how did Zheng Yonggang complete his transition from industry to finance? What is his investment logic?

　　 Reporter: Shanshan Group is a company. clothing The enterprises that start up also have many brands. Now the business scope of Shanshan has been very wide. What are the current business structures and what sectors are the key points?

Zheng Yonggang: in the past, Shanshan was a clothing enterprise and the earliest listed company in the industry. After 1999, it began to set foot in lithium battery materials. It should be the world's largest composite material company for cathode materials and anode materials. Besides, the group also involves commercial real estate, but the largest sector is financial investment, such as banks and insurance. Now, Shanshan is a company that combines industrial capital and financial capital. There are 3 listed companies outside the country, and three shareholders' business segments are relatively comprehensive.

　　 Reporter: in addition to making lithium battery materials, and the electric vehicle research institute, what kind of layout will there be in the new energy vehicle whole industry chain, will it get involved in vehicle business?

　　 Zheng Yonggang From the general trend, after the Internet era, the next one is probably the era of environmental energy. We set foot in the new energy assets very early. industry chain The core of the Automotive Research Institute is to manufacture automobiles, especially new energy vehicles, including new energy vehicles, and has started research and development in Israel and the United States.

Now our new energy layout is just beginning. These are listed by the listed companies. Recently, we have begun to make prototype cars, including the launch of new energy vehicles.

　　 Reporter: now you have not only participated in many banks, but also involved in insurance, futures and other fields. Are there any plans for the listing of insurance assets and how can they be realized?

Zheng Yonggang: in the past, finance was monopolized by the state. After two years of opening up, private enterprises began to set foot in it. The Chinese fir group entered the field earlier. The main consideration now is to make the insurance company scale. In the future, it will consider listing or backdoor listing. This is inevitable because the combination with capital is the future trend of the insurance company. But the two years will not consider listing. The most urgent thing is to enlarge the scale and create an innovative insurance company.

How do I make an innovative insurance company? I think that most enterprises do zero insurance now, and the scale is very fast. But the core of the pension industry, such as the future of the public, the key is to serve these industries through product innovation, because it is far from enough to rely on the endowment insurance of the state, and ultimately depends on the commercial endowment insurance, and may even become the leading factor.

　　 Reporter: what is the positioning and intention of Shanshan Group to the original clothing industry?

Zheng Yonggang: for the whole Shanshan Group, the clothing sector is still profitable, but the proportion is not large, about 20%. Now there are 20 brands, some of which are joint venture brands, and the brand of Shanshan is still the largest.

Shan Shan is the earliest home clothing company, the clothing sector will continue to innovate, make brand promotion, China's brand is always unable to come, because the mass brand is China, the real name brand is France, Italy is the main. China wants to go out, it is necessary to further enhance the design, brand culture and other aspects, and strive to squeeze into the ranks of world brands.

From the perspective of actual controllers, clothing brands should not only keep up development but also upgrade them, because clothing is a fashion industry, not a sunset industry.

　　 Reporter: Shan Shan is going into other strange fields from clothing. How do we consider the assets industry that has been involved later? What are the referential significance for other enterprises' transformation?

Zheng Yonggang: the state proposes an industrial upgrading and transformation. We often start 3 or 5 years ahead of schedule.

We are aware that new energy is an industry in the future. We will discuss it and finally get involved in lithium battery materials. When our headquarters arrive in Shanghai, considering that Shanghai will definitely be an international financial centre in the future, we have to do something about finance, and it is impossible to open factories in Shanghai.

Our bosses try not to stay in Shanghai. Instead, we run around the world to study the trend of macroeconomics and judge them based on these trends.

Now the country has entered the period of transformation and upgrading. At the macro level, you should study the industrial symbols that do not conform to the development strategy of the country. On the micro level, it is necessary to understand their own positioning, even if the same products are upgraded through the upgrading of technology. If the national strategy is regarded as a eliminated industry, it should not be done again.

Entrepreneurs in transition are not omnipotent, and manufacturing can be successful through diligence and wisdom, but it is not feasible to cross the border in the same way. The same is true of the successful transformation of Shanshan. When making lithium battery materials, there was a carbon Research Institute and the only one in the country. I was grafted with this research institute. They had a 863 topic. If people who make clothes blindly do lithium batteries, the probability of success is almost zero. To do insurance is also similar. We invite the best professional insurers to do CEO and operate with professional teams. If I do it by myself, I will probably fail.

　　 Reporter: now you are more invested in energy, and gradually retreat to the real estate business. Will you consider letting your son take over?

Zheng Yonggang: whether a son wants to or not likes to take over is the core. If his son is an elite, he also likes what his father does. Of course, he can take over, but most of them do not necessarily do it. Therefore, it is more scientific to hire a professional team to do business, and the separation of the two powers is more scientific.

The "generation generation" has gone through a very difficult process. It is very tough to seize the opportunities of the times. The second generation is different, maybe it can take over. According to this rule, all the rich families can take over, but the probability of success is very small. In addition, it depends on children's preferences.

To run an enterprise or a professional elite team, "you can enjoy the wealth of your father as a shareholder, but you don't have to operate, but share and management rights are separated. If the next generation does not operate only shareholders, hiring professional people to do it will be more conducive to the continuation of wealth. "