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Let'S Invest In About 30000000000 And Pledge To Become China'S "Nike And Adi" Clothing Magnate.
"The United States has Nike, Germany has ADI, YOUNGOR also has the strength to become such a group!" Li Rucheng, 68, dressed in a navy blue suit at YOUNGOR shareholders' meeting said that his voice was not high but was very penetrating.
Looking back on Modern Chinese history, Ningbo businessmen left behind their own heavy brushwork.
The first Chinese funded bank, the first Chinese shipping shipping company, the first Chinese funded machine factory and the first Chinese funded electric lighting factory were all established by Yongshang. Looking at the vast sky, Li Da, Samsung, Cao Guangbiao star, Wang Kuancheng star and Run Run Shaw star glimmering, lighting up the future for Yongshang.
Li Rucheng, the founder and chairman of YOUNGOR group, is the representative of the new generation of Ningbo entrepreneurs. brand And then frequently embarked on the road of capital operation, known as "Buffett of the clothing industry". It has brought YOUNGOR into the ranks of hundreds of billions of enterprises by virtue of the "three carriages" of clothing, real estate development and equity investment.
Looking back at the magnificent 40 years of the past, how did Li Rucheng start YOUNGOR from 20 thousand yuan to the first brand of Chinese clothing, from small workshop to 100 billion "clothing kingdom"?
Costume king Li Rucheng
In 1978, the spring breeze of reform swept over the land of Yongcheng. Li Rucheng, who had been in the countryside for 15 years, saw the turning point of fate.
With the surge of educated youth returning to the city, Li Rucheng also bid farewell to the countryside in 1979, and entered the newly established town run enterprise: youth. Garment factory That is, the predecessor of YOUNGOR, which is said to be a garment factory, is actually only sewing some bits and pieces for the state-owned garment factories in the town.
Li Rucheng, who is practical and competent, first spanported a brick truck to a small worker, and later was appointed the leader of the cutting team. However, due to the market impact, the factory's business is broken, and more than 100 educated youth are unemployed.
Opportunity always favors pioneers who dare to go ahead, and fortune always belongs to the strong who holds the destiny.
When a fellow villager in Shenyang visited Ningbo for a new year, he accidentally mentioned that his Liaoyuan warp knitting factory had a large number of unsold stock fabrics. He wanted to find a processing point in the South and make them ready for sale. With such an inadvertent dialogue, Li Rucheng, who had no way out, caught a straw for help.
So he volunteered to seek cooperation, and after many twists and turns, he finally got a large list of 12 tons of fabric from the far northeast. This adventurous move made the garment factory a success. At the same time, Li Rucheng won the trust of everyone and was elected director of the youth garment factory.
In the short two or three years after being director of the factory, the factory made millions of dollars and excavated valuable first gold.
In 1986, Li Rucheng began to create "Beilang port" in the name of Ningbo's opening up new landmark "Beilun port". As a result, the "Beilun port" shirt was put on the market and attracted much attention from the market.
"Beilun port" became famous in the first World War, which made Li Rucheng even more aware of the importance of the brand. To change the brand that has already been sold, this courage and courage has made today's China the first. Men's wear brand And also made Li Rucheng.
YOUNGOR is the English name of the two word "Youth". According to Li Cheng Cheng, "YOUNGOR" has both the historical continuation of the "Youth" factory and its expectations for the future. In August 1990, a joint venture with Macao Nan GUANG company was established, and the YOUNGOR brand was established.
In the era of manufacturing industry's main production, Li Rucheng, after visiting Jesse, the largest clothing sales company in the United States, decided to go the other way. The key to winning the market is to use strong distribution capabilities to achieve zero inventory.
As a result, he dispatched 300 elite troops from various departments, and set up 30 market departments in 25 cities throughout the country.
Almost overnight, the YOUNGOR banner endorsed by Kris Phillips is full of big rivers and lakes.
Since then, Li Rucheng has invested 300 million yuan in heavy gold, opened 100 large flagship stores in 30 cities such as Hangzhou, Nanjing, Wuhan and Chengdu, and increased this number to 1000 after 5 years.
In 1998, YOUNGOR international garment city began to build. In the same year, YOUNGOR listed on the Shanghai stock exchange, and Li Rucheng led YOUNGOR into the capital market.
In 2001, YOUNGOR signed a contract with two Japanese companies to build the world's largest fabric production base. By 2002, YOUNGOR had more than 50% sales channels.
In 2008, when the financial crisis swept the globe, YOUNGOR completed the biggest overseas acquisition of China's apparel industry, buying the men's clothing business of KELLWOOD, the US apparel giant, at a price of 120 million US dollars.
People often attribute the clothing industry to the sunset industry, but Li Rucheng still makes the clothing industry flourishing. Since 1994, the share of YOUNGOR shirts has always been the first in the country. It has gone through 25 trials and hardships.
Li Rucheng spent nearly thirty years making a township garment enterprise the first men's clothing brand in China. But in the past few years of YOUNGOR's market capitalization, the main garment industry has not behaved like the main industry, and the more profitable real estate and investment sideline industry occupies a more important position, especially the investment business with the largest profit contribution.
Buffett in the clothing industry
In 1999, YOUNGOR first set foot in financial investment; in 1999 ~2005, YOUNGOR gradually invested in CITIC Securities, Guang Bo shares, yeco Technology (later renamed the hemp industry, LIAN Electronics), Ningbo bank and so on. In 2005, the split share structure was completely rolled out, and the capital market entered a rapid development period. YOUNGOR's holdings of financial assets increased rapidly, exceeding 20 billion yuan.
In 2007, YOUNGOR sold 45 million 65 thousand and 600 shares of CITIC Securities, achieving an investment income of 1 billion 651 million yuan, accounting for half of the net profit of YOUNGOR. In 2009, YOUNGOR gained about 1 billion 860 million yuan from CITIC Securities, Haitong Securities (13.330,0.55,4.30%) and Jinma shares, and gained 536 million yuan from China Ping An, Guang Bo stock and Jin Zhengda in 2015.
YOUNGOR investment as of 2015 shares All the proceeds obtained were 12 billion 316 million yuan, and the names of "God's son", "elegant securities" and "elegant investment" were launched, while YOUNGOR's helmsman Li Rucheng was also known as "Buffett of the clothing industry".
It can often walk in the river where there are no wet shoes. Even Buffett, a stock god, will inevitably have a case of buying $200 billion from Boxill Hathaway. Li Rucheng's biggest investment failure should be invested in CITIC shares in 2015.
In July 17, 2015, a wholly owned subsidiary of YOUNGOR, new Malaysia clothing International Co., Ltd. signed an agreement with CITIC stock. It plans to subscribe 859 million shares of CITIC shares at HK $13.95 / share, with a total investment of HK $11 billion 986 million, all of which are self financing.
By the end of 2015, YOUNGOR had invested 16 billion 467 million yuan in its strategic stake in CITIC shares through two tier market holdings, and accumulated 1 billion 425 million shares, representing 4.9% of the total share capital of CITIC. At that time, YOUNGOR's net assets were only 20 billion 100 million yuan, and the investment was almost half of the family.
However, in the 2016 annual report, the book showed that the investment cost about 3 billion 774 million yuan. Another stock of investment losses is LIAN electronics, which shrank by 96 million 920 thousand and 600 yuan.
Wealth makes people dizzy, and failure makes YOUNGOR more sober. Li Rucheng has been suffering from false fire and has been thinking hard. He has been adjusting investment business over the years.
Despite two unsuccessful investments, YOUNGOR's investment sector has contributed the highest net profit in the "three carriages" in the past 4 years in the past 6 years. However, as of the end of 2018, the investment cost of YOUNGOR's investment business was 31 billion 600 million yuan, and its book value was 33 billion 200 million yuan.
Some people say that Li Rucheng's luck is so good that he has caught the bull market and real estate Daniel in the stock market. Shirts are still sold here and there. The asset value of equity investment has gone up ten times or tens of times. If YOUNGOR is now compared to a plane, its fuselage is the main garment industry, and equity investment and real estate are like two wings.
In the age of no doubt, return to the main business
"What is the main industry is not the main business, making money is my main business. But we should not only pay dividends to shareholders, but also let stock prices go up. " "The United States has Nike, Germany has ADI, YOUNGOR also has the strength to become such a group."
On the afternoon of May 20th, Li Rucheng said at the 2018 annual general meeting of shareholders at YOUNGOR headquarters in Ningbo, Zhejiang, that when Li Rucheng talked about the company's return to its main business, he was full of money.
2019 was the 40th anniversary of YOUNGOR group's establishment. YOUNGOR has been in the market for many years. Li Rucheng, 68, announced that YOUNGOR would no longer carry out financial investments. The goal of the company was to build a world-class company. fashion Group.
After experiencing ups and downs in the capital market, YOUNGOR is clearly preparing to further focus on the main garment industry, and thoroughly say goodbye to the two class market "stock god" image.
"The past is gone, the future is coming. Past successes can never be repeated; lessons from the past must be remembered. " Li Rucheng said in his letter to shareholders.
In fact, the slogan of YOUNGOR's "return to the main industry" can be traced back to the end of 2016. At that time, Li Rucheng announced in a high-profile manner that "five years should be used to recreate a YOUNGOR" to develop the main garment industry. However, according to the company's earnings data in 2018, the profitability of the main garment industry is still not as good as that of real estate and investment business.
The 2018 annual report shows that during the reporting period, the company completed its operating income of 9 billion 635 million yuan, and realized a net profit of 3 billion 677 million yuan attributable to shareholders of listed companies, of which the fashion apparel sector completed business income of 5 billion 644 million yuan, an increase of 13.22% over the same period last year, and the net profit attributable to shareholders of listed companies was 830 million yuan, an increase of 9.34% over the same period last year. But this data has a certain gap compared with the real estate business 1 billion 49 million yuan, investment business 1 billion 798 million yuan profit.
At the same time, in today's era of diversification, YOUNGOR has always been the main product of suits and shirts. Its return to the main business seems to be blocked and long: the product line of the company is not abundant, and its brand matrix is still in the stage of restructuring. At present, the company's main brands are business classic YOUNGOR, positioning in high-end American leisure HartSchaffnerMarx, high-end custom brand MAYOR and socks. Underwear And bedding bathroom brand HANP (hemp family). In addition, the company's YOUNGORLADY (YOUNGOR) Women's wear The workshop series has not been sold in large areas. Children's wear The product is only in the exploratory stage.
But now, the YOUNGOR's return to the main industry is uncertain. Faced with the temptation of investment business, Li Rucheng still made trade-offs in the confusion of main business. As to whether this decision is correct, time will give the answer.
summary
The height of a tree rises from its root, and the river loses its source by thousands of miles.
The spirit of daring to innovate and sticking to quality is flowing in the blood of a group of new era Yongshang, such as Li Rucheng, rooted in the soil of Ningbo, and is blooming on the sunny land of the Chinese nation.
I hope that YOUNGOR, as a Chinese national costume, can carry the banner of China made in the clothing industry. It will stand on this proud soil like HUAWEI.
When the storm came, everyone was blown down.
Many people fell down and became corrupt.
But you just get up and start the journey of life again!
The real strong is standing up after falling down, and can move on.
Looking back on Modern Chinese history, Ningbo businessmen left behind their own heavy brushwork.
The first Chinese funded bank, the first Chinese shipping shipping company, the first Chinese funded machine factory and the first Chinese funded electric lighting factory were all established by Yongshang. Looking at the vast sky, Li Da, Samsung, Cao Guangbiao star, Wang Kuancheng star and Run Run Shaw star glimmering, lighting up the future for Yongshang.
Li Rucheng, the founder and chairman of YOUNGOR group, is the representative of the new generation of Ningbo entrepreneurs. brand And then frequently embarked on the road of capital operation, known as "Buffett of the clothing industry". It has brought YOUNGOR into the ranks of hundreds of billions of enterprises by virtue of the "three carriages" of clothing, real estate development and equity investment.
Looking back at the magnificent 40 years of the past, how did Li Rucheng start YOUNGOR from 20 thousand yuan to the first brand of Chinese clothing, from small workshop to 100 billion "clothing kingdom"?
Costume king Li Rucheng
In 1978, the spring breeze of reform swept over the land of Yongcheng. Li Rucheng, who had been in the countryside for 15 years, saw the turning point of fate.
With the surge of educated youth returning to the city, Li Rucheng also bid farewell to the countryside in 1979, and entered the newly established town run enterprise: youth. Garment factory That is, the predecessor of YOUNGOR, which is said to be a garment factory, is actually only sewing some bits and pieces for the state-owned garment factories in the town.
Li Rucheng, who is practical and competent, first spanported a brick truck to a small worker, and later was appointed the leader of the cutting team. However, due to the market impact, the factory's business is broken, and more than 100 educated youth are unemployed.
Opportunity always favors pioneers who dare to go ahead, and fortune always belongs to the strong who holds the destiny.
When a fellow villager in Shenyang visited Ningbo for a new year, he accidentally mentioned that his Liaoyuan warp knitting factory had a large number of unsold stock fabrics. He wanted to find a processing point in the South and make them ready for sale. With such an inadvertent dialogue, Li Rucheng, who had no way out, caught a straw for help.
So he volunteered to seek cooperation, and after many twists and turns, he finally got a large list of 12 tons of fabric from the far northeast. This adventurous move made the garment factory a success. At the same time, Li Rucheng won the trust of everyone and was elected director of the youth garment factory.
In the short two or three years after being director of the factory, the factory made millions of dollars and excavated valuable first gold.
In 1986, Li Rucheng began to create "Beilang port" in the name of Ningbo's opening up new landmark "Beilun port". As a result, the "Beilun port" shirt was put on the market and attracted much attention from the market.
"Beilun port" became famous in the first World War, which made Li Rucheng even more aware of the importance of the brand. To change the brand that has already been sold, this courage and courage has made today's China the first. Men's wear brand And also made Li Rucheng.
YOUNGOR is the English name of the two word "Youth". According to Li Cheng Cheng, "YOUNGOR" has both the historical continuation of the "Youth" factory and its expectations for the future. In August 1990, a joint venture with Macao Nan GUANG company was established, and the YOUNGOR brand was established.
In the era of manufacturing industry's main production, Li Rucheng, after visiting Jesse, the largest clothing sales company in the United States, decided to go the other way. The key to winning the market is to use strong distribution capabilities to achieve zero inventory.
As a result, he dispatched 300 elite troops from various departments, and set up 30 market departments in 25 cities throughout the country.
Almost overnight, the YOUNGOR banner endorsed by Kris Phillips is full of big rivers and lakes.
Since then, Li Rucheng has invested 300 million yuan in heavy gold, opened 100 large flagship stores in 30 cities such as Hangzhou, Nanjing, Wuhan and Chengdu, and increased this number to 1000 after 5 years.
In 1998, YOUNGOR international garment city began to build. In the same year, YOUNGOR listed on the Shanghai stock exchange, and Li Rucheng led YOUNGOR into the capital market.
In 2001, YOUNGOR signed a contract with two Japanese companies to build the world's largest fabric production base. By 2002, YOUNGOR had more than 50% sales channels.
In 2008, when the financial crisis swept the globe, YOUNGOR completed the biggest overseas acquisition of China's apparel industry, buying the men's clothing business of KELLWOOD, the US apparel giant, at a price of 120 million US dollars.
People often attribute the clothing industry to the sunset industry, but Li Rucheng still makes the clothing industry flourishing. Since 1994, the share of YOUNGOR shirts has always been the first in the country. It has gone through 25 trials and hardships.
Li Rucheng spent nearly thirty years making a township garment enterprise the first men's clothing brand in China. But in the past few years of YOUNGOR's market capitalization, the main garment industry has not behaved like the main industry, and the more profitable real estate and investment sideline industry occupies a more important position, especially the investment business with the largest profit contribution.
Buffett in the clothing industry
In 1999, YOUNGOR first set foot in financial investment; in 1999 ~2005, YOUNGOR gradually invested in CITIC Securities, Guang Bo shares, yeco Technology (later renamed the hemp industry, LIAN Electronics), Ningbo bank and so on. In 2005, the split share structure was completely rolled out, and the capital market entered a rapid development period. YOUNGOR's holdings of financial assets increased rapidly, exceeding 20 billion yuan.
In 2007, YOUNGOR sold 45 million 65 thousand and 600 shares of CITIC Securities, achieving an investment income of 1 billion 651 million yuan, accounting for half of the net profit of YOUNGOR. In 2009, YOUNGOR gained about 1 billion 860 million yuan from CITIC Securities, Haitong Securities (13.330,0.55,4.30%) and Jinma shares, and gained 536 million yuan from China Ping An, Guang Bo stock and Jin Zhengda in 2015.
YOUNGOR investment as of 2015 shares All the proceeds obtained were 12 billion 316 million yuan, and the names of "God's son", "elegant securities" and "elegant investment" were launched, while YOUNGOR's helmsman Li Rucheng was also known as "Buffett of the clothing industry".
It can often walk in the river where there are no wet shoes. Even Buffett, a stock god, will inevitably have a case of buying $200 billion from Boxill Hathaway. Li Rucheng's biggest investment failure should be invested in CITIC shares in 2015.
In July 17, 2015, a wholly owned subsidiary of YOUNGOR, new Malaysia clothing International Co., Ltd. signed an agreement with CITIC stock. It plans to subscribe 859 million shares of CITIC shares at HK $13.95 / share, with a total investment of HK $11 billion 986 million, all of which are self financing.
By the end of 2015, YOUNGOR had invested 16 billion 467 million yuan in its strategic stake in CITIC shares through two tier market holdings, and accumulated 1 billion 425 million shares, representing 4.9% of the total share capital of CITIC. At that time, YOUNGOR's net assets were only 20 billion 100 million yuan, and the investment was almost half of the family.
However, in the 2016 annual report, the book showed that the investment cost about 3 billion 774 million yuan. Another stock of investment losses is LIAN electronics, which shrank by 96 million 920 thousand and 600 yuan.
Wealth makes people dizzy, and failure makes YOUNGOR more sober. Li Rucheng has been suffering from false fire and has been thinking hard. He has been adjusting investment business over the years.
Despite two unsuccessful investments, YOUNGOR's investment sector has contributed the highest net profit in the "three carriages" in the past 4 years in the past 6 years. However, as of the end of 2018, the investment cost of YOUNGOR's investment business was 31 billion 600 million yuan, and its book value was 33 billion 200 million yuan.
Some people say that Li Rucheng's luck is so good that he has caught the bull market and real estate Daniel in the stock market. Shirts are still sold here and there. The asset value of equity investment has gone up ten times or tens of times. If YOUNGOR is now compared to a plane, its fuselage is the main garment industry, and equity investment and real estate are like two wings.
In the age of no doubt, return to the main business
"What is the main industry is not the main business, making money is my main business. But we should not only pay dividends to shareholders, but also let stock prices go up. " "The United States has Nike, Germany has ADI, YOUNGOR also has the strength to become such a group."
On the afternoon of May 20th, Li Rucheng said at the 2018 annual general meeting of shareholders at YOUNGOR headquarters in Ningbo, Zhejiang, that when Li Rucheng talked about the company's return to its main business, he was full of money.
2019 was the 40th anniversary of YOUNGOR group's establishment. YOUNGOR has been in the market for many years. Li Rucheng, 68, announced that YOUNGOR would no longer carry out financial investments. The goal of the company was to build a world-class company. fashion Group.
After experiencing ups and downs in the capital market, YOUNGOR is clearly preparing to further focus on the main garment industry, and thoroughly say goodbye to the two class market "stock god" image.
"The past is gone, the future is coming. Past successes can never be repeated; lessons from the past must be remembered. " Li Rucheng said in his letter to shareholders.
In fact, the slogan of YOUNGOR's "return to the main industry" can be traced back to the end of 2016. At that time, Li Rucheng announced in a high-profile manner that "five years should be used to recreate a YOUNGOR" to develop the main garment industry. However, according to the company's earnings data in 2018, the profitability of the main garment industry is still not as good as that of real estate and investment business.
The 2018 annual report shows that during the reporting period, the company completed its operating income of 9 billion 635 million yuan, and realized a net profit of 3 billion 677 million yuan attributable to shareholders of listed companies, of which the fashion apparel sector completed business income of 5 billion 644 million yuan, an increase of 13.22% over the same period last year, and the net profit attributable to shareholders of listed companies was 830 million yuan, an increase of 9.34% over the same period last year. But this data has a certain gap compared with the real estate business 1 billion 49 million yuan, investment business 1 billion 798 million yuan profit.
At the same time, in today's era of diversification, YOUNGOR has always been the main product of suits and shirts. Its return to the main business seems to be blocked and long: the product line of the company is not abundant, and its brand matrix is still in the stage of restructuring. At present, the company's main brands are business classic YOUNGOR, positioning in high-end American leisure HartSchaffnerMarx, high-end custom brand MAYOR and socks. Underwear And bedding bathroom brand HANP (hemp family). In addition, the company's YOUNGORLADY (YOUNGOR) Women's wear The workshop series has not been sold in large areas. Children's wear The product is only in the exploratory stage.
But now, the YOUNGOR's return to the main industry is uncertain. Faced with the temptation of investment business, Li Rucheng still made trade-offs in the confusion of main business. As to whether this decision is correct, time will give the answer.
summary
The height of a tree rises from its root, and the river loses its source by thousands of miles.
The spirit of daring to innovate and sticking to quality is flowing in the blood of a group of new era Yongshang, such as Li Rucheng, rooted in the soil of Ningbo, and is blooming on the sunny land of the Chinese nation.
I hope that YOUNGOR, as a Chinese national costume, can carry the banner of China made in the clothing industry. It will stand on this proud soil like HUAWEI.
When the storm came, everyone was blown down.
Many people fell down and became corrupt.
But you just get up and start the journey of life again!
The real strong is standing up after falling down, and can move on.
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