In front of the author, the three former executives and executives who participated in and witnessed the brilliant history and littering of Xinfei Electric now have their own careers in different countries and businesses and can bring them together Not an easy task, one of them is Malaysian.

Almost two months ago, Xinfei Electric released a notice of suspension of production and restructuring, and one month after that, various reports of the resolution of the new flight appeared in the media. However, all kinds of texts with similar contents instead caused the Xinfei Electric to fall into the history of restructuring and reorganization The process is more subtle, the evaluation of the foreign side of the Singapore-based Hong Leong Group is also open to question, so three of them sat in early December with the author out of respect for the personal opinion of the three of them, I can not disclose their Their names and identities, but their respective discourses outline a new flight closer to the truth of history, a new one that can give the Hong Leong Group more apt judgment.

Tolstoy said that happy families are similar, but unfortunate families have their own misfortunes.This sentence can also be more appropriate at the corporate level, the industrial environment, the evolution of the market situation, the business model Change, the switching of product structure, the transfer of the competitive landscape, etc., all bring about the same problems and pressure to the enterprises in them, but these are just external conditions, the dilemma of the new fly in the moment, full verification The fortress is the internal wisdom of this wisdom.

New fly and Hong Leong under the wave of joint ventures

The emergence of the brand name of the new fly with a natural foreign gene, in 1984, Liu Bingxin in Xinxiang, Henan Province, the introduction of Philips refrigeration technology was born out of the 'new fly' (the new fly this brand was officially opened in 1986) .From 1984 Between this period of 1994 and 1994, the refrigerator product still exists as a luxurious product. The domestic market is in its infancy. After a decade of precipitation and development, the new refrigerator can increase its production and sales volume to about 300,000 units .

In 1994, Singapore Hong Leong Holdings Henan Xinfei Electric Co., Ltd., holding ratio reached 51%, Xinfei Group still accounted for 49% of shares.It should be pointed out that the Hong Leong injection of new aircraft into shares, not a In the mid-1990s, a wave of large-scale foreign investment broke out in our country, a phenomenon that is common throughout the home appliance industry.

Shenyang Sanyo, Guangzhou Matsushita, Shanghai Hitachi, Shanghai Sharp, Mitsubishi Electric, Fujitsu, Hefei, Sanyo and so a large number of joint ventures were established at the time, the introduction of Hongfeng Xin Fei Electric is only one of them. Have to say, Hong Leong The injection and holding, to the new aircraft at the time provided development funds, the capacity of the new flying refrigerator thus raised to 100 million units or more.

This time must mention a person, he plays an important role in the ups and downs of the new fly late, he is the vice chairman of the new flying electric since 1994. It is worth mentioning that the new fly The reason to be able to enter the Hong Leong vision and successful holding, Gao Jialin played a key role, it is he in many capital cooperation projects to find a new fly.

In 1994, Hong Leong Holdings and the capital injection of Xinfei Electric had played a positive and positive role in the development of Xinfei and promoted the steady improvement of Xinfei Electric in all aspects of production capacity, technology, product, management, brand and market sales, etc. As the founder of Newfly, Liu Bingyin still held the post of chairman after Leveron Holdings, and from this aspect, it reflects that Hong Leong respected the operation and development of the local team from the very beginning.

Has formed a history, can not be used if the assumptions or conditions to judge, with almost new start of the same historical period of China and Italy, Snow and other refrigerator companies have earlier fade out of the mainstream brand camp or out of the market, as a reference It can be seen that the role of Hong Leong into shares in the new fly .In fact, the new world known as the refrigerator sector 'Four Golden Flowers' is after 1994, which confirms from another side of Hong Leong to the The positive effects brought by the new fly.

In 2001, Liu Bingyin died, which was a huge loss to Newfly, and after Liu's passing, Li Gen served as Xinfei Electric's party secretary and general manager until mid-2017 to retire. From 2001 to 2004, these three Management of the new fly during the year is relatively chaotic, but the market is still fundamentally stable, abundant domestic refrigerator market opportunities, rich channels of resources, competition is not sufficient. Then the annual sales volume of the new flying refrigerator can be maintained at about 1.5 million and maintain Profitability.

From 2005 onwards, the new flying into an unprecedented high-speed electrical appliances development stage, especially when Zhang Donggui was in charge of the new flying appliances handsome India during the production and marketing of new size, profitability reached a historic peak.

Earth-shaking system construction

By the end of 2004, Xinfei Electric ushered in the new chairman of the Malaysian Zhang Donggui, his arrival also opened a new development cycle after the new fly.It is worth mentioning that Zhang Donggui as chairman of the new flying electrical or Singapore Feng As president of Long Asia Group, Xinfei is only one of the more than 20 companies he is responsible for. Under Zhang Donggui's leadership, in 2005, Hong Leong again increased its investment in Xinfei and its shares increased from 51% in 1994 to 90%.

As China's wave of joint ventures broke out in 1994, a large number of joint ventures began to promote wholly-owned foreign-funded enterprises in Sanshui and Matsushita in 2002. In this period, Hong Leong achieved a sole proprietorship. Hong Leong raised the proportion of its holding shares in one fell swoop To 90%, also in line with the overall trend of domestic and foreign-funded enterprises in China at that time.

After the arrival of Zhang Donggui, Xinfei started construction of Daxing in various fields such as production, supply and sales, team building, internal management, fixed assets investment, technology upgrade, etc. In 2006, Xinfei invested 500 million yuan to expand production capacity and put into operation the new factory in 2007 and 500 million There are 300 million yuan investment in the bank loans, the amount of money in less than two years have already paid off.

The introduction of international management concepts and transformation management system is Zhang Donggui in charge of the new fly after another innovative work, at the same time, Zhang Donggui also actively recruit talent in the world, from Japan and South Korea to introduce technology and equipment.

It is understood that Zhang Donggui at the time of management was mainly reflected in three aspects, quality and production, financial incentives and human resources, and the establishment of the new internal flying within the human capital Commission, the Finance Committee, Technology and Production Committee, Marketing Committee, Enterprise Culture Subcommittee, Supply Chain Committee, International Business Development Committee and so on. All these committees are co-ordinated by the executive committee under the board of Sinofec. Moreover, there are not many Singaporeans and expatriates in these management and organizational modules, A large number of domestic local staff as the key positions in the management mode and personnel team building, Zhang Donggui has been pursuing the principle of localization.

In the external collaboration and branding, Xinfei and Xi'an Jiaotong University jointly set up a technology research and development, in order to improve the brand name of the new fly in the younger user groups, but also invested in sponsoring the China Football Super League and the new Silk Road beauty pageants. The production workshop, office space, staff restaurant and dormitory for employees in all positions set up a reward mechanism and KPI assessment methods, which greatly improved the welfare of employees and boosted the enthusiasm of the work in Zhang Donggui served as chairman of the board, the new employees frequently Can share bonuses after the company's high growth performance, so many media reports claim that 'no pay rise over a decade' is not true.

Golden like six years

All the internal and external enterprise system is still the ultimate goal of building market sales, in fact, in 2005, Zhang Donggui dominated the 'continued growth plan.' The market will always be concerned about the efforts and preparedness of enterprises, appliances to the countryside in 2007 The implementation of industrial policies for the production and marketing of new flying electrical power to provide an external boost.

In 2009, Zhang Donggui launched an accelerated growth plan within Xinfei. Prior to the launch of new product development, R & D and upgrade, team building, capacity expansion and other aspects of investment, driven by the two major market plans, the positive effect was obtained A comprehensive show.At that time, the team of Xin Fei Electric internal motivation and centripetal force reached a peak.

From 2005 to 2010, Zhang Donggui served as Chairman of Xinfei Electric within six years, is the golden development cycle of Xinfei Electric. By 2010, the sales volume of Xinfei Electric in refrigerators reached about 5.5 million sets, While there are nearly 800,000 units freezer sales.New-fly sales peaked in 2010, the year of July created a monthly sales of 720,000 units of history, the highest profitability of the year in 2009. This During the period of the new long-term refrigerator in China's leading brand in the camp among the well-known Hong Kong has become a core profit unit.

Although Zhang Donggui in charge of more than 20 physical units, but he still want to do more new flying electrical appliances, as chairman of the new flight, Zhang Donggui every month about a week's time for the new flying electrical management, which Also reflects his emphasis on the new flying electrical appliances.

When the market size and profitability continued to rise, placed in front of Zhang Donggui and Xinfei Electric options to enlarge the program is not much, Zhang Donggui at the time had judged that there should be a new space for sustainable development of the new aircraft, either to buy Other enterprises, or acquired by other companies.I understand that at that time Zhang Donggui also on behalf of the new fly to Europe with a number of well-known brands of home appliances purchase project acquisition, but also Hong Leong Group has also received China's home appliance business acquisition of the new offer .

The rapid development of the domestic refrigerator market has attracted the attention of many enterprises and capital. In particular, there is a strong willingness to buy home appliance enterprises that have not yet made a manufacturing layout in refrigerators and freezers until 2010, which may be regarded as abundance The best opportunity for Long to withdraw from the new fleet is to make people marvel at the fact that Hong Leong repeatedly summoned the patience of the acquirer, and at this time, Hong Leong has made huge returns from 2005 to 2010, The continued development of new flying electrical appliances in the space and profitability, Hong Leong Group's core management's pale perception of the Chinese market has been reflected in this matter.

At this time to mention again before 2010 as the vice chairman of the new flying high-power appliances, in 2009, more than a year of retirement of his successful retirement when the new fly in 2010 to achieve the highest volume of business sales volume , Inflection point is also formed, Zhang Donggui's sudden resignation has become the new fly by the beginning of decline.

Deteriorating until the reorganization

In 2010, Zhang Donggui disagreed with the senior executives of Hong Leong Group on various aspects of his ideas and concepts. This inconsistent view is not merely reflected in the new flying. After all, Zhang Donggui, who was also the president of Hong Leong Asia, In charge of the industry is really a lot of the end of the year, Zhang Donggui resigned.At the same time, has retired, but won the trust of the Hong Leong Group Kuok family Gao Jinlin returned to the board as chairman .In 2011 mid-term, Ruan Jianping as the core of the team stationed in the new fly.

The new management team can be described as a radical new aircraft transformation, Zhang Donggui as chairman of the establishment of the management system almost all been broken, directly led to the disintegration of team members, including the development of new high-speed development time in the local The team also left a lot in May 2011, Yang Jian also left the new flight after the work contract expired, and Wang Jianhua left.From management to marketing, production to technology, there was a wave of new fly A wave of group leaving tide.

In 2012, Xinfei launched a brand new LOGO, changed the eagle image that has been used for 28 years ago into 'seagull', greatly reduced the brand recognition of the new LOGO, and placed new channels and terminals in the layout of new LOGO Lack of enough 'new fly' Chinese exposure, which formed a huge negative impact on the brand name of the new flight.

Ruanjianping team reason why the new fly LOGO change is also a cause for the accident before 2012, the new fly into the small appliances and other areas of coverage and rumors spread.Can be true in Hong Leong in 1994 and 2005 twice The acquisition of the new flying electrical appliances and eventually 90% stake in the same time, the new group to give the new flying electrical brand authorization is limited to refrigerators, freezers, washing machines and air conditioners and other white goods, from beginning to end by the Hong Leong Holdings, the new flying electrical appliances are not small Household electrical appliances, kitchen appliances and other fields have had any aspect of investment in the brand standardized management, the performance of the new group is worth discussing.In order to avoid the market has emerged in other new products, the formation of the new flying electrical products confusion, Without the 'eagle' new flying new brand image was born.

From 'Eagle' to 'Seagull' itself is not a very good moral.Fortunately, from 2012 onwards, to home appliances, energy-saving benefits, such as the introduction of industrial policy began to gradually withdraw from the pre-stimulus Under the action of policy, the market demand has been released in large quantities, and the refrigerator market has also entered the stage of stock competition from the stage of incremental development.The environment for survival and development confronted by Xinfei Electric Appliances has suddenly worsened.

In 2011, with the previous market inertia and channel relationship, the sales and operation of the new flight did not occur collapse collapse, but has entered a downward spiral.And a large number of personnel, leaving the team makes Xinfei internal panic, All kinds of contradictions have been intensified, and in 2012 a well-known strike broke out.

The face of deteriorating market sales and business decline, Hong Leong as the controlling party to do the most things is substitutions, but also frequent substitutions.Hong Long usual practice is to appoint a COO and a CFO, and, In order to maintain the balance of power, the chief operating officer and the chief financial officer also co-exist with each other and the foreign parties and the Chinese team do not have enough trust with each other. Since 2012, the COO assigned by Fenglong to Xinfei has been almost every six months A change, the shortest term of a COO on-the-job time is only 42 days.

Frequent fluctuations in the top management positions Xinfei internal management chaos, rent-seeking activities similar to the emergence of the supply chain and other sectors, in the constant torment and internal friction, the new flying sales of the appliance difficult to improve in this year 10 During the few months prior to the announcement of the suspension and restructuring announcement in January, the new flight was at a loss for a long time, and in the process, the new flight group, which accounted for only 10% of the equity, was powerless.

Now, the dilemma of the new flying electrical is obvious to all .From the initial anonymous growth of the mainstream brands in the refrigerator industry, to the top of the market column.Longlong injection and holding has played a positive role, it is beyond doubt; However, from the glorious peak, the reduced production and restructure from now till now, and Honglong's fault can not be avoided.Of course, there are also market factors, especially the implementation phase of industrial policy represented by home appliances going to the countryside and the exit phase of the later period, bringing the market While the essence of the new flying fall is still in the internal, the market as the external environment tends to deteriorate at the same time, expanding the internal problems of enterprises.

The twists and turns of the development of the new fly in the domestic market, condensed foreign-funded enterprises to adapt to the pain, reflects the transformation of the Chinese home appliance industry, reflects the changes in the appliance brand pattern, of which there are many successful elements can learn from, there are many, many Worth to learn the lessons of the future of the new fly to where it is yet to be known, and to provide warning signs to other businesses is a living textbook.