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Jinlong Wang Li Dahong: from the beer King to 'transform' non-woven King

by:Sunshine     2019-12-02
On November 2004, 50-year-old Communist Party member Li Dahong took the title of 'beer King' and resigned as chairman of Hubei jinlongquan beer group. What he faces is a life-and-death choice. In 2000, jinlongquan group implemented the reform of separation of main and auxiliary enterprises, divesting its subordinate glass products companies and other auxiliary enterprises from the group, and formed a Hubei jinlongwang Investment Co. , Ltd. , which is owned by all employees. According to the requirements of the government, the main person in charge of the company must hold large shares and serve as the chairman of the company. Li Dahong is of course the candidate. After three years of operation, due to the fierce competition in the main beer market, the purchase price of its packaging materials and raw materials has been continuously squeezed. Jinlongwang is facing tremendous operational pressure, and employees have requested to withdraw shares. The board of directors of jinlongwang company decided to return the 'life-saving money' of the employee's buyout status after the equity contraction '. The board of directors also decided that whoever pays 200 thousand yuan of risk of mortgage will be the boss of Golden Dragon King. However, due to the aging of enterprise equipment, poor adaptability to the product market and low profit level, no one dare to be the poor boss. At this time, the company faced bankruptcy, the 'life-saving money' of its employees could not be fulfilled, and a large number of employees were laid off. At this time, at the recommendation of the board of directors of jinlongquan Group, Li Dahong implemented a debt-bearing operation for jinlongwang company. In order to avoid the suspicion of related party transactions and profit transfer in the main and auxiliary industries, he resigned from all positions such as chairman of jinlongquan group in November 2004, shouldering the heavy burden of private enterprises and starting his second venture in life. Rebuilding a golden dragon spring Li Dahong is very clear: even if the Golden Dragon King can come back to life, it will not become a big climate, because the scale of the enterprise is too small, the equipment is too aging, and the various burdens are too heavy. To turn over completely, we must find new alternative industries. Through a large number of market research, Li Dahong found that there is no high-grade non-woven fabric production line in China, and the domestic and foreign market demand for high-grade non-woven fabrics is extremely strong. He resolutely decided to establish jinlongwang nonwoven company in Jingmen in a joint venture with the world's non-woven fabric giant Israel AVGOL company. The previous high-grade non-woven fabric production line, 1. Where did 0. 8 billion yuan come from? Li Dahong found the jinlongquan group and requested a loan guarantee. Leaving jinlongquan Group, Li Dahong lost his right to speak. Jinlongquan and jinlongwang are only business relations. However, the reason why Li Dahong requested jinlongquan Group to provide loan guarantee is very good: more than 800 people in jinlongwang used to be employees of jinlongquan group, and they made sacrifices for the reform; In addition, jinlongwang is willing to use non-woven fabric production lines and other equipment for counter-guarantee. As a result of the negotiations, jinlongquan group provided jinlongwang company with 1. A loan guarantee of 0. 4 billion yuan. In addition, Israel contributed 40 million yuan. Land acquisition, factory building and imported equipment were officially put into operation in less than a year. According to Li Dahong's vision, the profit scale and profit level of non-woven fabrics are comparable to those of Jin Longquan, which is equivalent to rebuilding a 'Jin Longquan '. There is often a gap between the ideal and reality of being a non-woven king in China. Although Li Dahong has been in the market for most of his life, he has been psychologically prepared for the emergence of various difficulties, but the difficulties that occurred after the non-woven fabric was put into production still caught him off guard. Due to various reasons, the bank's 70 million yuan loan was delayed. Of the 70 million yuan, 40 million yuan is working capital. Without this working capital, raw materials cannot be bought back. Without raw materials, equipment will only be idle. The enterprise has no production and no profit, but the bank's loan principal and interest should be repaid on time and the employee's salary should be paid. In 2005, enterprises suffered a loss of more than 10 million yuan. Li Dahong traveled around and used all social relations to raise funds. In the most difficult time, he took out all his savings of 800 thousand yuan for many years and the 800 thousand yuan bonus paid by the government when he left office, and paid his employees wages. In 2006, Li Dahong finally found an Enterprise Group in Wuhan and was willing to provide jinlongwang with a working capital loan guarantee of 10 million yuan. After the loan of 10 million yuan was put in place, it was equivalent to injecting a shot of heart strengthening agent for Jin Longwang, and the company quickly resumed normal production. In that year, jinlongwang produced more than 5000 tons of non-woven fabrics and sold them out, thus curbing losses. The following data witnessed Li Dahong's efforts: in 2005, a loss of 14. 9 million yuan; 2006, flat; Profits in 2007 were 7 million yuan; In January to September 2008, the profit was 6 million yuan. At present, Jin Longwang's high-grade non-woven fabrics have occupied domestic markets such as Shanghai, Fujian, Jiangsu, Zhejiang and Guangdong, and have become suppliers of world-renowned enterprises such as P & G, Kimberly, Canada, and Japan. AVGOL company witnessed Jin Longwang's growth in the predicament and witnessed Li Dahong's personality charm. The board of directors of the company recently decided to inject capital into jinlongwang nonwoven Company 2. 0. 8 billion yuan, another world's most advanced high-grade non-woven fabric production line, has made jinlongwang the largest high-grade non-woven fabric production base in China. 'Stress is also motivation. After doing business for so many years, I believe in this sentence: hard work, persistent struggle, there will be final success. 'Li Dahong said with great emotion. (Jingchu net)
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