Hou Kepeng Executive Chairman of Shenzhen Furniture Industry Association Chairman of Shenzhen Fashion Industry Alliance Member of Shenzhen Municipal CPPCC, Vice Chairman of City Federation of Industry and Commerce
On June 7, Minhua Holdings, a leading company in China's home furnishing industry, was short-selled by short-selling institutions, and its share price plummeted. Then, V, brokerage analysts, Zhitong Finance and other parties all expressed their support for Minhua.
On June 9, Minhua Holdings surged 26% in early trading. As of yesterday, Minhua Holdings closed at 6.740, basically returning to the stock price before the short-selling of Surabaya. Minhua Holdings expressed its confidence to investors and the market with repurchased shares.
Minhua Holdings' share price continued to rise on June 13
How does the subsequent tense develop? Is Man Wah Holdings a problem company? During the period, many people asked me to ask for my attitude.
First of all, a private enterprise that has no background but has grown into an industry leader and a national brand. A company that has donated nearly 100 million yuan from 2006 to 2017, one invested more than 10 million in employee training and talent support. A company with over 10,000 jobs, a company that pursues perfection from material selection to quality, quality inspection and service, a company that has invested nearly 150 million yuan to build a solar photovoltaic power generation project to be a green eco-industrial park. The 30 billion yuan enterprise... Why is it called the name of “falsificationâ€, is it really a fake, or is it made in China?
Secondly, I don't want to evaluate the right and wrong of drowning. Many institutions have strongly refuted the short-selling behavior of drowning. But on this matter, for Minhua Holdings, I have three opinions on Chinese furniture and for Chinese manufacturing.
1. What kind of company can win respect?
We often say that “being a good person beforehand†can win the market and the future only by winning the respect of others. Minhua Holdings, which has been in existence for 25 years since its establishment in 1992, is not easy for the furniture industry. Minhua Holdings has maintained its leading position in the industry for 25 years and has earned the respect of consumers, the market and society.
1. Make the quality the ultimate.
Quality, not through national standards, meets the demanding quality of consumers. Minhua insists on selecting the world's top 500 green environmental protection raw materials and adopting advanced production technology. It has introduced many sets of world-class production equipment from Italy, Germany, Japan and other countries to create an innovative “green pipeline†and boldly adopt new technologies. New materials and new processes, continuous improvement of digital process management and quality inspection system, with more than 200 designers' wisdom, more than 100 production processes, more than 10,000 workers' skill, more than 20 countries, industry standards, With 25 years of brand accumulation, it has created Minhua's international first-class quality.
2. Make innovation to the extreme.
Continuous innovation capability determines the core competitiveness of the company. Mentioning Minhua Holdings, I have to mention CHEERS Chivas, one of the three major brands, which is a brand that firmly occupies the leading position in domestic and international functional leisure sofas. From 2013, the company launched the technology fabric sofa to launch the office in 2015. Leisure dual-purpose chairs, smart chair lifts and other functional single-seat chairs for the market segment, and now to the Chihuahua 5-star mattress, the independent research and development of space alloy net, volcanic cotton, ice and snow, three advanced technology sleep materials and domestic Stand-up sleep tester - iScan, while enriching and upgrading Minhua smart home, the company has obtained more than 200 appearance and technology patent certifications. Minhua has gathered more than 200 European and American designers and domestic R&D talents to form an experienced product design and R&D team to build the core competitiveness of enterprise development.
3. Make the cost to the utmost.
Minhua Holdings' 2017 financial report shows that Minhua's overall period expense rate is controlled within 20%, gross profit margin exceeds 40%, and the average annual growth rate exceeds double digits. This is entirely due to the company's excellent cost control capabilities and vertically integrated production models. The main raw materials of Minhua products are leather, steel, PVC imitation leather, wood plywood, printed cloth and chemicals. At present, the company's upstream iron frame and sponge can be supplied by the company itself, and it has the largest sponge manufacturing factory in China. Sponges required for the production of sofas, surplus products can also be sold externally. The iron frame is mainly provided by the subsidiary Wujiang Ruimai, and its production capacity ranks among the top three in the world. The products are supplied for self-use on the one hand and exported to other functional sofa enterprises on the other hand. Therefore, in the context of the company's focus on functional sofa business, accumulating more than ten years of production experience, grasping the right of upstream raw materials, and enjoying the reputation of domestic functional sofa first class brand, it can fully achieve a net interest rate of 22% or more.
4. Make the service to the extreme.
Furniture is a typical experiential consumption. If the service is not done well, it will be difficult to win the market.
As of March 31, 2017, the number of Minhua brand flagship stores reached 1966. In addition to the unified practice of image, unified design, unified display layout, and contextualized experience, Minhua was the first to implement the same price. The furniture company with the same service, and launched the "30 days no reason to return" service, the implementation of the "first question responsibility system" within 24 hours to solve the problem commitment, in good faith management, high-quality service concept, to create a world-class, subject A respected home business.
5. Make social responsibility the ultimate.
The so-called responsibility is not just to donate money to the school. Although Minhua Holdings has donated nearly 100 million yuan from 2006 to 2017, the real responsibility lies in the promotion of social progress.
Man Wah Holdings not only uses the best quality products to improve people's lives and health, but also promotes the development of green environment with the demand for environmental protection. The three major industries that Minhwa Holdings has put into production in Guangdong's two industrial parks in Huizhou, Tianjin and Jiangsu Wujiang The park and the Chongqing Industrial Park under construction all adopt low-carbon and ecological models, especially the self-owned roof of the factory to build solar photovoltaic power generation projects with nearly 150 million yuan. It is also the first in the domestic furniture industry to open solar energy utilization projects. The company, which can save about 10,000 tons of standard coal per year, when it is planted on the earth more than 10,000 trees absorb carbon dioxide emissions each year.
Man Wah Holdings uses its firm belief in “responsibility and development†to create a resource-saving and environment-friendly modern enterprise.
Therefore, today's Minhua Holdings, which ranks in the forefront of the market value of Asian home-listed companies, has a market value of more than 30 billion Hong Kong dollars; as a strategic partner of the world's top 100 home retailers, it spans the core economies of Asia, the United States, Europe and Australia. In the region, the products have been sold in more than 80 countries and regions; as the world's leading smart home enterprise, it has become the pride of China's home national brand.
If such a company is not worthy of respect and can not give investors and the market confidence, what is the future of the Chinese furniture industry!
Second, what kind of entrepreneurs can lead the company to success?
Minhua is undoubtedly one of the most successful companies in the Chinese furniture industry, but is his success accidental? Perhaps the development of Chinese furniture has its historical contingency. However, from entrepreneurship to leading, Minhua’s development and the founder Huang Minli’s mind and pattern are inseparable.
From the founding of Minhua Comb Chemical Plant in 1992 to the successful listing in Singapore in 2005, the listing in Hong Kong in 2010, and the value of Minhua in the year of more than 30 billion yuan, Huang Minli has become a business leader from obscurity.
I have known Huang Mingli very early. Today, everyone sees that Huang Minli was awarded the "Outstanding Contribution Award" by Singaporean Prime Minister Lee Hsien Loong. He was one of the "Top Ten Outstanding Young Entrepreneurs of Hong Kong Industrial Industry" selected by the Federation of Hong Kong Industries. On the cover of "Forbes Asia", "Deckchair Tycoon", and won the 49th list of Forbes Hong Kong's 50 richest people, Dr. Huang Minli was awarded the Bronze Bauhinia Star by the Chief Executive of the Hong Kong Special Administrative Region, and was named "Influenced Industry Merit". And ranked in the highest honor hall of China's home furnishing industry - the first China Home Furnishing Hall of Fame...
What I saw was Mr. Huang Minli’s blue silk to white hair. He was resting four hours a day, and all the time was put into work. He was at least 2 months a year for further study, which is his ultimate quality. Harsh, comprehensive investment in technology and technological innovation, and the practice of economic and social responsibility, there is a widespread picture in the industry: that is, Huang Minli is carrying a bottle in the post to listen to the staff report, his professionalism in the industry I am afraid it is difficult to find a second person, and this spirit is both a love for the cause and a responsibility for responsibility. Huang Minli is a model for contemporary Chinese entrepreneurs.
Obviously, there are still many outstanding entrepreneurs like Huang Minli, such as Shenzhen furniture meritorious figures Huang Huakun, You Guozhong, Huang Weiye, Shi Wenyuan, Zhuang Sun, etc. Their life has been dedicated to Chinese furniture and also created Chinese furniture. Brilliance.
3. Why are short-selling institutions such as drowning water frequently aimed at manufacturing in China?
Looking through the history of Surabaya, from 2009, four Chinese companies listed in North America, ONP, RINO, DGW, and China High Speed ​​Media (CCME), were launched. As a result, the stock price plummeted and the development of the company was frustrated. Today, Lishui has once again made it difficult for Minhua Holdings.
I don’t talk about right and wrong here, but it’s not hard to find out why the short-selling institutions such as Lishui frequently attacked the Chinese enterprises and shorted China. Is there a problem with China's manufacturing industry, or is it a game of plundering financial capital?
Obviously, Chinese manufacturing, represented by Chinese furniture, is the world's number one in terms of volume, but there is still a certain gap between the quality, design, manufacturing and service of the world. It is difficult for China to create a national brand, and it is difficult to gain recognition in the international community and win respect. Perhaps it is only possible for the short-selling institutions such as Lishui to take advantage of it.
China's manufacturing has developed to today, ushered in a historic transition period. The direction of this transformation is undoubtedly "Industry 4.0". However, for Chinese furniture, many small and micro enterprises still stay in the mechanized "Industry 1.0" era, most of them. Enterprises are in the era of electrification "Industry 2.0", and a few enterprises in the leading position in the industry tend to automate the "Industry 3.0" era, which can achieve the "Industry 4.0" era of "Intelligent Manufacturing + Internet", thus rivaling Germany and the United States. almost none.
Then, how can Chinese furniture win respect, how to promote industrial transformation and upgrading, can we establish a strong image of Chinese manufacturing in the international arena?
1. Continuously improve quality. Quality is the foundation of manufacturing and the foundation of China's furniture transformation and upgrading. In recent years, Shenzhen Furniture Industry Association led Shenzhen Furniture from fully implementing member quality inspection to establishing “Shenzhen Furniture†brand logo, from launching “China Green Furniture Premium†evaluation to launching and implementing “Shenzhen Standard†(furniture category) China's furniture quality testing system and quality standards upgrade. In the future, the Shenzhen Association will rely on Shenzhen International Furniture Fair to fully implement the “Quality Star Ratingâ€, eliminate the entry of inferior products and enterprises, create a safe and high-quality trade environment, and promote the upgrading of the quality of furniture enterprises and industries, and promote the excellence of China's furniture industry. The true formation of the quality ecological chain.
2. Encourage design innovation. The gap between Chinese furniture and the international level lies mainly in the gap between design innovation. In 2016, Shenzhen International Furniture Fair was upgraded to Shenzhen Fashion Home Design Week. The purpose is not only to promote international design communication, but also to build a Chinese and foreign design docking platform. More importantly, it promotes the original design progress of China with the international top design power, and guides the tradition with original design. The transformation of manufacturing industry has promoted the transformation of China's furniture industry from “manufacturing brand†to “design brandâ€. Only by design innovation to promote industrial upgrading, can China's manufacturing win international recognition.
3. Accelerate Internetization. "Internet +" as China's national strategy is an important way to achieve "industrialization 4.0" and "Made in China 2025". In the past, Shenzhen Family Association promoted furniture enterprises to accelerate the integration of Internet information through the introduction of three-dimensional homes. Today, the Shenzhen Association of Students and Baidu will jointly launch the “Baidu Brand Zone†after the industry’s first “China Furniture Consumer Demand Big Dataâ€. Baidu Express has two platforms to promote the Internet upgrade of Chinese furniture.
Up to now, the share price of Man Wah Holdings has continued to grow. This shows that the industry, the market and the society are full of confidence in such a responsible and reputable leading company in the home furnishing industry. However, the development of Chinese furniture still has a long way to go, made in China. The dream of internationalization is still waiting for us to achieve.
At this time, only returning to the original heart, with the spirit of the Chinese furniture people should be the craftsman spirit, pioneering spirit, committed to the creation of a healthy life in China, committed to the progress of China's harmonious society, and jointly realize the great dream of the Chinese nation's rejuvenation.
Editor in charge: Liu Bing
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