Shi Yuzhu business in China is undoubtedly the most legendary figures, 3,000 yuan at home, five years after the series House, After Shi Yuzhu suddenly fall into the abyss from the peak, back 2.5 billion in debt. A few years later, Shi Yuzhu miraculous comeback to pay off huge debts. This year in March, Shi Yuzhu completed the merger with Stone Group Holdings, won again for his ten hundreds of millions of net worth, firm size over the past Zhuhai Giant.
Mid-Autumn Festival on the eve of the Shanghai is still a bit hot.
sat opposite, Shi Yuzhu customary place on a cigarette, placed in front of small-Yixing teapot .
started smoking in January, it was the lowest of his life. before his habit of always holding his hand a pen.
1989 years into the limits and abortion.
again after the success of Shi Yuzhu outlook on life has greatly changed, no longer the pursuit of vigorous every day in perpetuity. In addition to a lot of time to work, Shi Yuzhu only hobby is playing online games grand . He said, ; other is biological engineering and brain gold project from scratch, by the end of the second proposed venture.
The former indicates that China's first poor
Reporter: Many people are building 7 years ago, the crisis occurred in the giant fresh. experienced such ups and downs, there must be a lot of emotion, right?
Shi Yuzhu: Yes. The reason why we can quickly it is because the fall of that fall that unforgettable lesson in Egypt, a traditional Chinese culture, is to see investments not previously failed. not failed, there is little money for him to vote. This culture is the failure of tolerance, respect for the loser, but the Chinese, but giant wrestling is inevitable even if the media do not report mm, even then I covered up the giant building. when I was really dizzy, and even some of my team are not the objective of the.
Reporter: It is said that giant building continue to increase imply that the high and the Chief?
Shi Yuzhu: There are so going children. begins the 18th floor, then 38,48,54,64, and finally added to the 72 level. In the past I have been reluctant to say this matter. Then I went to Leung visited the majority (when he was secretary of Zhuhai City) once, he said, there is indeed this component, we want to cover up. was a high turnover rate of Chinese students, many graduate to go abroad, and few return. National leaders gave him a political mandate, as rewards to scientists, as a successful venture in China to establish the typical college students. want to build the giant building with high, to draw attention to the signs of things, aware of our business, from the The students stay in the country to attract business.
Reporter: Why did not you do a bank loan?
Shi Yuzhu: would like to loan, but loan-to-none. then it is very difficult if not engage in dishonest loans to the paragraph. Unlike the current bank, as long as no risk, you could borrow.
Reporter: 10 years of your life path can be a ; bungee jumping , are very anxious all day.
the most difficult thing about the next 10 months to save the process. I passed a lot of measures in the country and to the United States to find investors. are seeking others, obsequious, and others often also playing you. all negotiations have failed, and suddenly all made sense to do, the mood is relaxed instead.
when the media is hype, slowly climb. It can be seen from the sales of melatonin .1997 sales will come three, four hundred thousand .1998 monthly sales trend: 15 million, 300,000, 450,000, 600,000, 800,000 , 100 million, 300 million, 500 million hh1999 began to 800 million, 10 million, exceeded 100 million until December, the month has 30 million profit, and although there is no accumulation, but we have a good state.
money Tip
Despite the setback and for a time disappeared, but Shi Yuzhu that their business was not interrupted. Zhuhai Giant left transformation strategy, products and team, Shi Yuzhu comeback is still the fundamental hh card giant was started by the Han But ten years ago Shi Yuzhu have a sense of crisis. to find a lot of experts, including U.S. experts, research what the next century, the hottest, most promising. then come to the conclusion that life science.
implementation of the product In 1994, on health care products is the brain of gold on the success of the year to the summer of 1995 have been on the rise, and the resulting peak of the giant moment of Zhuhai. melatonin approval before entering the experimental stage, the giant eruption of the crisis the.
Reporter: Melatonin really that profitable?
Shi Yuzhu: drugs, health care products These products have three success factors, one less will not work. The first factor is the product is good. The first is the mainstream theory view is not tenable. Vitamin A few experts even say that it is not good, but the key to look mainstream. Second is to look after the consumer can take effect immediately felt. Otherwise, can not form a good reputation, You will be very tired, especially the effects of advertising are particularly dependent on advertising. Even if the playing time advertising to make money. The second factor is the need for good planning programs. a lot of good products in China, and not done successfully, This and related to the planning program. The third factor is to have a good team to implement the program.
time, we would have to save this product Zhuhai rely on a giant, so we must choose a particularly good product Caixing. in We have checked more than 8,000 academic papers, it has more than 7,000 papers are fully in the affirmative. theoretically valid, this is no problem. More importantly, health care products are most afraid of others after eating that and do not eat a kind. Why is it that so many media controversy?
Shi Yuzhu: more negative media coverage, but little or no negative word of mouth. Why then took the liberty reported, this product does not go? Melatonin sold for eight years, or in accordance with the original trend of steady growth. if, as they say, even if there is no negative reports, certainly not. and our consumers are very stable.
these negative reports often do not have the angle consumer material, but with some so-called expert opinions. Experts are also 隔行如隔山, I think most people say that the two types: one is to take over the consumer, one is specialized in the research of experts in the field . truly a study in this area of domestic also twenty or thirty people.
to earn all the money into advertising, and then later some people say that Melatonin advertising , what you say faster than advertising? I can not imagine what a better way.
melatonin sales in recent years has been the market leader of the first health care products to a single product, Advertising is certainly the biggest. We are determined according to the proportion of sales is basically in accordance with trade practice.
you see right now (Autumn), others say for sure that melatonin ad too much, but just a few months ago, Some media said that melatonin die, Melatonin does not advertise the.
fact that we have pulse, 2 months to early September of advertising is very small. each year in two waves: one is the Spring Festival, a is the Mid-Autumn Festival. Mid-Autumn Festival is the biggest push down the density of 10 days, the Spring Festival is 20 days, only 30 days together, pulled full-year cost is not high. This is 30 days, I spend much missed annoying. These days in the past, you see the time my ad, will resent it, will feel a lot of our advertising is, in fact, been reduced more than half of the. this but in fact there are many skills, all my own way out (smile).
Reporter: this point, you and Qin pool, love many of these former king, or a different standard.
Shi Yuzhu: Yes. We are not quite dry. I think they (including the Giants in the past) sometimes in the reckless, reckless with their own strength, and even Ouqi elements. In addition to production, our biggest expense is advertising, but still make use of every penny Ph Jiban. We must be doing the most advertising successful and cost and some large enterprises with more than one-third do not have to be.
two or three years ago, media reports have also criticized our advertising every year forecast: According to this approach, the product one year to die, over two years. continuous predictive 5 years, but in fact we have not finished the past few years (laughs).
melatonin has been for five consecutive years was named quite happy (humorous tone). You see this in five years, China's The winner for each year, many are down, it is the commentary from the artistic point of view, and on product sales did not help.
addition to the regular marketing art of war under the market to research, Shi Yuzhu a quiet nature, like to see modern revolutionary history, you can sit in one place all day without moving behind closed doors of his : I heard you like to see Mao's book, whether the lessons of his military thinking, the same as the war to organize the marketing?
Shi Yuzhu: Yes, indeed reference, the marketing campaign has been made. Mao Wayaobao summarizes the principles of the ten military until the liberation war, do not they still use it? he asked one city in one place do not care about the gains and losses, concentrate superior forces to destroy the enemy's effective strength of enterprises as well. strategy can be at a disadvantage , but must be in a tactical advantage. specific to a battle, must have 3 times, 5 times the enemy's superior forces.
make a new product, this period must be sufficient to concentrate financial and human resources can not be average or do too many things. we generally will enter a state of emergency, when war is sometimes the practice to a high degree of centralization of power. New Year's time, so 20 days is indeed sometimes the style of some of the military. But after a period of time , will return to normal.
Reporter: Could you talk about your experiences in marketing planning?
Shi Yuzhu: Marketing is not an expert, can not superstitious experts. I think the university about 80% of marketing materials The contents are wrong. If there experts, I think that only experts are the consumers. to do a product demonstration in the early stages must have a lot of time to soak in among consumers.
my culture a team, they must always be under the city must be at least a month I asked them to keep up to 100 consumers in-depth conversation. must I take to the streets holding a product to sell, not sell out to pay a fine, sold for as bonus. This forced him to perfect the process of selling him. Once he saw an argument on the success of a consumer, put down his words sum up into advertising. My plan has always been on the market which go there learned from the consumer.
Reporter: Melatonin seems to three somewhat similar marketing, you inspired by the three?
Shi Yuzhu: I went to three studied, three is really a success .
We are now the main battlefield is placed inside the county. because of China's market is a pyramid, the top competition is fierce, the greater the more down market, but generally not capable of developing business in the City, often we focus on the following focus on the maintenance of the old consumer group and make the gift market, an annual spring festival the whole year of sales accounted for 50% -70%.
rely on large trading
Melatonin, Shi Yuzhu pay off the debt in history. brain Platinum production plant in Wuxi, Qingdao, domestic products were sold to listed companies, Shi Yuzhu and several hundred million dollars cash. This year in March, a larger transaction. Shi Yuzhu Melatonin and gold partner will be 75% interest in the marketing chain transfer to Stone Group Holdings , four-way cost is 600 million Hong Kong dollars and 560 million convertible bonds.
Reporter: Stone pay you the money credited into account the up?
Shi Yuzhu: 600 million Hong Kong dollars has been credited into account, 560 million convertible bond also in the hands of three batches according to the agreement of these bonds into shares will all transfer completed until 2006.
Reporter: Melatonin give you more than 6 years has created more than a billion of wealth, the growth rate is staggering.
Shi Yuzhu: We're so far more than that and Mr. Chen (laughs). is not a level that people really badly.
Reporter: Can you tell us about you and Stone do the deal?
Shi Yuzhu: At first, Stone did not intend to sell, but to the United States. later section of the total raised this matter, plus I always have a personal friendship paragraph to the same conditions in the first section of the total. he before our very understanding. Stone has a difficult time I often help solve some of the total segment financial difficulties. At one section of the total proposed to set up a four-way giant light, we agree that soon after a sum of money (1 million) for the program over. Section Chief know that our money is earned by melatonin.
Reporter: Some media believe that melatonin is not worth so much money, say you this is the high cash, how do you see?
Shi Yuzhu: start to finish is a win-win deal. For us, in addition to taking of a part of the cash, all of a sudden become a major shareholder of Hong Kong listed company, is also a cost-effective. For Stone, it's because Sina stock soared, and suddenly look a lot of money on hand. how to get the money to buy assets of Stone continued to make profit? If buy bad assets of listed companies is a fatal blow. acquisition can solve this problem.
As for prices, I am the party, said not; media said not too. really have a say should be the intermediary. This is an internationally renowned invited agency, the other is to employ KPMG, Deloitte, we employ the . The two sides also are employed by investment banks, law firms, and now the price is seven agencies also recognized. I think this is a fair price.
Reporter: If in accordance with the price-earnings ratio to evaluate your performance must be stable .
Shi Yuzhu: health care products industry in the United States is generally 15 times earnings trading in Hong Kong is 12 times, we and Stone talking about 10 times, cut down from 12 times, in fact, when turnover is 9.74 times . intermediaries have a scientific method to count, to investigate product life cycles and future trends. We offer to each other hundreds of thousands of long-term use of those data.
assess the price includes the discount profitability . We are two hundred cities in the sales network, which is where our concept of the Chinese people is not cheap. but abroad, do not think so, he will see samples, combined with our pay out the sales files, two verification. see you distribution network to push a new product can not make money, how much money, and then converted into present value.
melatonin sales this year in January and all time highs during the Spring Festival program is 5.8 million, the actual completion of the 8.2 billion. to sell bare all stock, factory production also continuous Jiaye Ban. melatonin close to 3.5-4 a million a year profit, sales profit of 75% of links have 170 million. agreement in the first year of the commitment was only 90 million, because the partner has just put the gold market is still a loss period. the actual audited profit of 1.2 billion achieved. Although the profit the first year commitment, but not into the listed company, because the acquisition on March 6 this year to complete . the second year commitment is from 3 months to the end of June next year to achieve 170 million and the listed company.
Reporter: Why would you sell Jianteshengwu melatonin production plant (000,416 original Qingdao domestics)?
Shi Yuzhu: This company is Wangyuan Si, and a member of the Institute of Taishan, he has been in the capital market Gunda. He acquired this company in Qingdao, to support its business, to buy our factory. because it is a good friend it. melatonin production is only part of the acquisition of the profits, and now it is holding a production approval, I took the mark, who can do without.
Reporter: He offered to come to you, right?
Shi Yuzhu : Yes.
realize the idea of listing in accordance with the Shi Yuzhu, Stone will also be the future of life science and technology transformation. Objectively, the four-way sales of the current health care products has also been much larger than the IT.
Reporter: Do you have no development of new products? what the future development plans?
Shi Yuzhu: has reserves of 10, and now the first pick in the test market. See No, I first spend money on their own cultivation, once the mature the listed companies to sell.
There are dozens of sub-industry, health care products. At present, we sleep and vitamin status of the two large pieces occupy the boss. the next 1-2 years we have to fight an occupation. all accounts is not possible , can account for 5-10 months on it. our conventional health care abroad is not afraid, they do not understand China. this industry can really grasp the general direction of the country not more than 10 people. The only fear is the MLM company, it is not Law.
Reporter: Your network has been sold to Stone, so in the future you can only do through the four-way?
Shi Yuzhu: Yes. I became responsible for this listing the company, some of our results have also been fitted into, and we entered the board of directors also began to secure the rights and interests. It should be said, we have achieved a market, is a listed company.
Reporter: You are now Stone the CEO, and how you intend to manage the listed companies do?
Shi Yuzhu: Some people think that I will not engage in management, but since I think my management also. because no matter which set of management, the sole purpose of four: the first First, allow employees to maximize enthusiasm; second, allowing to maximize sales; the third, allowing minimal cost; fourth, the purchase price and the company is safe. a few years, we have achieved these aims the.
our staff turnover rate is very low, and now are basically the backbone of the old giant. authorization is fully supporting the management is very strict. New Year's we summarize a bit, Melatonin, and there are 6.0 billion gold partner sales, not a penny of the bad debts. the industry is 20% of the average level of bad debts.
from the expenditure side, our city is through the taste of media studies. Since we are not short of money to be first to sign all year contract, and even the money once in place, the price down, the possibility of kickbacks between cadres and the school very well with each other guarantees. who eat a rebate, to be punished by a fine of 5 times, the guarantor should also be fined. this We have some technical measures.
Safety First Reporter: Why did you say you're never away from bankruptcy only 12 months?
Shi Yuzhu: I think the business operation to its current size, safety is first, the development is not the first one.
First of all, my product can be sustained and stable development, the company can not suddenly die someday.
followed on the financial situation to be safe and have enough cash reserves. tactical reserve including cash, Treasury bills. strategic reserves, including our buy Huaxia Bank, Minsheng Bank's corporate shares, profitability and cash capabilities are strong.
In terms of talents, the company's core cadres to be able to stability is maintained, can not let him loss, a loss would also be unsafe.
I am financially conservative, debt control in less than 10% is green; 20% yellow; 30% are red, absolutely can not touch. We are now almost is about 15%.
tax for 3 years we have more than two hundred million. My basic attitude is this: to fight for the country's preferential policies to do everything possible to fight dental caries in this basis, I give financial provided a penny of tax evasion are not allowed. This will ensure the company at least there are no major problems.
I will not mess investment, investment mistake is fatal to a project, only to do some strategic reserves, short-term investment. China Shipping Group, listed in Hong Kong, I made over two hundred million of strategic investments, listed next to loss of 50 million, it is earned. Li Ka-shing is the highest bidder, I loss of 50 million when the loss of Hong Kong newspapers said Li Ka-shing a hundred million then. eyes I am what is not cast.
Reporter: You do not home in Shanghai?
Shi Yuzhu: No, that does not pay. Recently there have been some changes in the concept. We buy land to build House, all personal use, not more than 3 layers, haha (everyone laughs). but we will buy a very large area, bought several hundred acres.
Reporter: only if it is not worth the cover layer 3?
Shi Yuzhu: It is not worthwhile, but we are own thing. Initial interest in Shanghai's suburbs, because we are doing the national market, exactly the same in urban and rural areas. We and the Shanghai government to deal with as little as possible, so the farther away that 也好. In Shanghai, government leaders I have never seen, nor go to the meeting. Shanghai a little better, you do not understand leadership, but it can pay taxes, there is a good environment.
Reporter: In the property has been not to invest?
Shi Yuzhu: We do not do later. they are not familiar with the industry firmly do. My principle is that only the current product. After all, I was born in IT, there are good IT when appropriate project, as an investor, the number may be a bit small.
Source: China Economic Times
No comments:
Post a Comment