Wish Huicong Has Passed Through The Spring And Autumn, Winter And Summer For 28 Years

When the years are quietly turning, when 10000 days and nights are the glory of the past, from 1992 to 2020, Huicong has gone through 28 years of spring and autumn, winter and summer.

October 18 is the 28th birthday of Huicong group. Liu Jun, chairman of the board of directors of Huicong group, wrote a personal letter to all Huicong people. In the letter, Liu Jun summarized the important strategies for Huicong to achieve phased victory in the past three years, and his expectations for the future of all Huicong people.

The paper is short and the sentiment is long.

Dear Huicong people: on October 18, 2020, Huicong is 28 years old. The average life span of the world's top 500 companies is 42 years. Compared with the life cycle of the world's best companies, Huicong has gone through two-thirds. Huicong, which was listed in 2003, is already a "veteran" of listed companies. In the past 28 years, we have made some achievements and made many mistakes. In recent years, we have been reviewing our company from decision-making mechanism to execution details. Although we have the entrepreneurial spirit, motivation, ambition, skills and professional ethics, we still haven't built Huicong into a great organization. For organizations, failures and lessons are the best teachers. I firmly believe that they can change the development process of an organization and make the future success of the organization like a catalyst. But the premise of all these problems is that adjustment and change must begin with each and every one of us.

On January 17, 2018, we made clear the vision of Huicong: to be a leading industrial Internet Group in China; to empower traditional industries with Internet and data; to set the goal of "becoming a company with a market value of 100 billion yuan". We have gained a lot of blessing and recognition, but also received more sarcasm and sneer. After three years of hard work, we have been on the road. I believe that we will eventually reach the other side of our dream. And those who satirize and sneer, they will stay in place, looking up at our more and more distant back. I have repeatedly stated that although Huicong is 28 years old, it is still a start-up company, and it is very difficult to raise funds and recruit talents. But even if the company is small and has very limited resources, finding the right people is the most important task. Startups often can't get the talent of the company, because they work in other companies with higher salary, so sometimes you need to lower the standard moderately and ask a simple question: is this person as enthusiastic about the mission of expanding the enterprise as you are and willing to make the same efforts.

Fortunately, we offer not only dreams, but also sharing mechanisms. The first success of China model and Zhaoxin explains this problem from another angle. Obviously, these two companies have the possibility of independent listing of a shares, and we will also have the opportunity to obtain good financial returns together with the team. I've been thinking, as an entrepreneur, I used to manage myself, but when I transformed from a workshop type start-up to a well managed company, we have been constantly learning lessons and setbacks. Until I finally understood that entrepreneurs were more likely to trust their intuition, and that well-trained professional managers would take advantage of a more orderly management system. It is these so-called limiting factors that lay the foundation for the next stage of development of Huicong. Fortunately, Yonghong joined in at the right time. He is a senior professional manager with entrepreneurial gene, which greatly promotes the development of Huicong. If Wu Lei meets a person who is not sincere with him, I must thank him for his cruelty.

In the past three years, if you ask me if I am satisfied with anything, there are two things: first, a large number of outstanding talents have joined Huicong; second, we have survived! This has also given me greater confidence and motivation to continuously promote and optimize the talent recruitment and mechanism construction of various business sectors. In the past three years, there have been some sighs: one life, two games and three geomantic omens. Regardless of China and the west, CCB will help in 2018; in 2019, the government will step forward; in 2020, we will usher in financing and opportunities for various runways. Because we've won the most precious thing - the time needed for transformation. We have survived. This is not fatalism. The success of every enterprise requires luck. Great success requires great luck and the help of dignitaries. CCB and the government are the nobles of Huicong. In the process of starting a business, of course, you will experience rejection, sadness, laughter and heartache. But in the end, we made it. Because, I always believe in the success of starting a business. Our failure (maybe) will make many people happy. I can't allow this kind of thing to happen, because many people's hobby is to gloat over the failure of others. We returned the money of CCB in advance, because we must not let the people who helped us fall into a struggle. This is the bottom line of life.

In addition to strategy, talent, mechanism and luck, the most important thing is subtraction, focusing and making fewer mistakes. No matter what the macro situation, the world situation, the epidemic situation and China and the United States, we have done the right thing at the most challenging time. We have acquired companies in history: Zhongguancun Online, Zhaoxin, Huijia and zhongfu.com. Among them, we have transformed and upgraded the former two, and determined to devalue the latter two. Although we have done more than four billion dollars in goodwill, we must do it right. Among the more than 20 angel investment companies in which Huicong participated, we fully supported China model and Cotton Union, made phased holding, provided funds and support in various aspects. Fortunately, they run very fast. In the history of Huicong MBO company, we took back part of it and closed part of it. We focused on supporting the shopping mall and buying chemical plastics. The shopping mall is another bright spot in the past two years. It has won the favor of investors, the team has achieved a new leap forward, and Huicong has also gained income and long-term value, forming a multi win result.

The outbreak of the epidemic was initially determined, and the survivors survived. Today's Huicong has not been able to contribute more to the disaster areas and give back to the society. However, we do not lay off workers, reduce salaries and pay taxes according to law. I always put the interests of the team, shareholders and customers far ahead of me. Of course, I won't make the same old mistakes of over trust, lack of supervision, relying on intuition instead of process. The strategy of the group and each business segment has been mentioned many times in the past few years, and I don't want to repeat it here. We've been doing it for three years, constantly optimizing, but never changing course. I think we're far from successful, but I'm sure we're on the right track, and we have a chance to succeed beyond our expectations, provided that each of US pursues excellence, not with our heart or mind, but with our soul. Not to do it, but to do it in place. Please be sure that the company will fully share the mechanism to repay your every effort. As a member of HCT, we all need to work hard to achieve success. On the other hand, they should accompany their families and care about their children's growth and spiritual world. You don't know if you're doing well because you won't see the results until many years later. I've been in Huicong for three years. According to the memories of those closest to me, I don't think I'm doing a bad job. Because I insist on study, exercise hard and self-discipline to ensure that I find a balance between work and life. I very much hope that everyone in the work is desperate, everyone in life is happy.

Happy birthday to Huicong!

Every hardworking Huicong person, like a song, thank you for having you! For example, Zhang Lei wrote in the book value: "on the road of long-term ism, walk with the great pattern observer and be the friend of time." I have always believed that Huicong will become a great company, and I firmly believe that every practitioner will gain achievements and growth, personal value and wealth here. Wish Huicong and everyone!

Chairman of the board of directors of Huicong group October 18, 2020

About Huicong group

Huicong Group Co., Ltd. (02280. HK), founded in 1992, is committed to becoming China's leading industrial Internet Group, enabling traditional industries with Internet and big data, and listed on the main board of Hong Kong.

As the earliest b-end enterprise service provider in China, in order to meet the multi-level needs of market development and national strategy, in January 2018, Huicong group took the lead in proposing a comprehensive layout of industrial Internet. In practice, Huicong found that China's traditional industries have a market scale of 100 billion and trillions, with huge development space. In 2019, it has formed three business groups of new scientific and technological retail, intelligent industry, platform and enterprise service, and six vertical runways for investment and incubation, and established a complete industrial Internet Ecology.

Huicong group is willing to keep running, iteration, innovation and empowerment, seize the opportunities given by the times, create more value for customers, focus on the transformation of traditional industries, and be the booster of China's industrial transformation and upgrading.