In Xinxiang City, Henan Province, Hongli Avenue, a 'new fly recruitment office' facade, has been a bright red lock, the diagonally opposite the recruitment office Henan Xinfei Electric Co., Ltd. (hereinafter referred to as' new Flying electrical appliances. "A statue of white marble went straight to the main entrance, an old-fashioned two-door refrigerator with a large ball on top, and a stainless steel eagle just above it for wings.
New fly company main door 'new flying refrigerator' sculpture
Due to a continuous huge loss of 507 million Singapore Dollars (about 2.483 billion yuan) for more than six consecutive years, the total liabilities of the company exceeded 2.2 billion yuan. The refrigerator giant Xinfei Electric, which has enjoyed a reputation in the country, finally stopped production on November 1, 2017 The whole decision.
For the decline of the new flight, some people point the finger at the foreign shareholder introduced 23 years ago - Singapore Hong Leong Group, which refers to its poor operation after mastery of operational leadership.Analyze that the local government in the management of the brand new issue , Affecting the reputation of the brand new flying However, the new fly after the simple emotion of employees, the new fly 'when the family' Liu Bingyin missed 'listing', 'diversified' opportunities for the impact of the new fate of the same can not be ignored.
After several twists and turns, surging news correspondents also contacted a number of middle-level and senior people who had worked in the new fly to try to restore the once-fantastic refrigerator business from a small loan-financing military enterprises to become the leading domestic refrigerator industry After introducing foreign shareholders at the peak, why they have missed the opportunities for development in succession and gradually declined.
The golden age of 'Liu Bingyin': it was listed in the top ten most valuable brands in China
'The whole plant accumulated losses reached 70 million, the company for three consecutive months by the loan for the wages of workers.' This is Xinxiang Radio Equipment Factory in 1981, when the state was under the jurisdiction of the original four-machine unit Small local military enterprises. Xinxiang Radio Equipment Factory is the earliest predecessor of the new fly, that year, Liu Bing silver Xinxiang Radio Equipment Factory ranked the last deputy director.
Li Liangyin, former director of the working party of Xinfei Party Committee, exchanged views with Liu Bingyin (right)
When other leaders fled this' heavy disaster 'households, Liu Bingyin provoked the director of the burden .In order to make the business turnaround, Liu Bingyin mobilize workers to engage in' short and fast 'project, relying on the assembly' black and white TV 'and' included Dual-use machine 'earned 1.8 million yuan.In 1983, Xinxiang Radio Factory not only paid off all the arrears, but also removed the loss of the hat.
After seeing the selling of refrigerators, Liu Bingyin decided to convert the refrigerator and the introduction of the Italian Philips IRE equipment and technology .In December 8, 1984, Xinxiang refrigerator factory a project broke ground, since then officially launched the new fly. More than 18 million investment, 6 imported production lines, 9 domestic production lines, 100,000 refrigerator production line in November 10, 1986 formally put into operation.
After investing in the market, 'Xinxiang - Snowflake' refrigerators won many honors and awards such as 'Golden Rabbit Special Prize' for the first Shanghai EXPO Premium Products Expo in Shanghai.
Later called Xinxiang - Phillip, but a legal dispute, so later changed into a 'new fly', flying word is actually taken 'Phillip' filipino homonym. ' 'Elders' told surging journalists.
In 1988, Xinxiang Refrigerator Factory completed the annual production plan and sales revenue three months in advance, realizing the profits and taxes and the per capita profit and tax ranking first in Xinxiang City, and Xinfei became the star enterprise in Xinxiang City. Achieve sales of 214 million yuan, profit 28.79 million yuan.
'Although he did not finish the fourth grade in elementary school, he dared to think hard and did not have any idea and management was very strict.' The above informed sources told the surging news reporter that Liu Bingyin demanded strict product quality. He said publicly that ' Brand, knock on who's rice bowl '.
On May 20, 1990, when Liu Bingyin slammed more than 400 unqualified refrigerators on the face of hundreds of new flyer sales representatives, news media and newflight employees, Liu Bingyin once again concentrated in September of the same year Destroyed more than 1,000 unqualified refrigerators, eliminating the need for a deputy director in charge of quality. The whole factory was suspended for one month. The salary of the entire factory management staff was reduced by 30% to carry out the full quality rectification.
In addition to strictly managing the quality of products, Liu Bingyin, who does not follow the common sense, also boldly broke the rigid thinking of many employees in state-owned enterprises during that period.
At that time, some people always thought that "when we entered the New Flying Door, we were state-owned enterprises.
'' Today's work is not working hard and looking for work tomorrow, 'the phrase was on the wall at the time, and Liu Bingyin was the real handler. "The above-mentioned reporters told surging journalists that Liu Bingyin took the lead in breaking down the' iron wages' in the planned economic system, Iron chairs, iron rice bowl 'system of rigid, engage in competition, cadres can get on,' a deputy director because they did well, directly to the factory pushing the cart.
December 18, 1991, approved by the People's Government of Henan Province, Xinxiang Refrigerator Factory as the basis, the province together with dozens of refrigerator accessories manufacturers, universities and research institutions, set up the establishment of Henan Xinfei Electric Group.
January 18, 1994, Henan Xinfei Electric Group restructuring Henan Xinfei Electric (Group) Co., Ltd., the internal share of employees accounted for 17.04%, the proportion of state-owned assets accounted for 82.96%.
'From 1991 to 1994, the company grew at an average annual rate of 40%.' 'The above informed sources told the surging news reporter that under the leadership of Liu Bingyin, Xinfei once entered the top ten most valuable brands in China.
May 20, 1990, the new company to destroy 400 unqualified refrigerator scene
Singapore Hong Leong Group: the sales of the new flying refrigerator once exceeded 1.2 million units, total profit exceeded 300 million
In the infinity of new flying, spring breeze, the Hong Leong from Singapore appeared.
August 2, 1994, Henan Xinfei Electric (Group) Co., Ltd. and Singapore Hong Leong Electric Pte Ltd, Singapore Yuxin Electric Co., Ltd. to set up a joint venture Henan Xin Electric Co., Ltd., the proportion of the three parties were 49% 45% and 6% .On the same year on October 13, Henan Xinfei Electric Co., Ltd. was formally established.
The new flying electrical appliances registered capital of 668,637,700 yuan, of which 327,632,240 yuan Xinfei Group invested, Singapore, both sides invested 341,100.53 million.
In the early spring of 1994, in order to promote and implement the reform and opening-up strategy promulgated by Henan Province with great effectiveness, Singapore, where one of the four little dragons in Asia was headed by the leading delegation of Henan Province during the visit, and Lee Kuan Yew, former Singaporean supervisor, Leaders earnestly hope that the business community in Singapore insightful investment in Henan for the development of why the choice for the Hong Leong Group shares, former director of the Party branch of Xinfei Lee Lanyin, in the "advertising in the end," wrote a book, then Hong Leong Mr. Guo Fangfeng, Chairman of the Board of the Company, was encouraged by this meeting and immediately sent officers to visit Henan and eventually chose Xinfei Electric as its partner.
'When the joint venture in 1994, the new flight sales can not keep up with Haier, but profits than Haier, a net profit before the joint venture Haier no one year more than the new fly.' 'The above informed person surging news reporters, When the mouth, Liu Bing silver does not want to joint ventures with foreign capital.
On June 8, 1994, feasibility study report of Xinfei Honglong Joint Venture Project was held in Zhengzhou, Henan Province. The meeting agreed that after the joint venture, Xinfei Airlines can make use of the post-joint capital, technology and management advantages to enhance its competitiveness in the international market . 'Liu Bingyin is very strong, he disagrees, so formed such a shareholding structure.' He said Singapore was also trying to control, but Liu Bingyin did not agree, the dilemma through the Henan Provincial Government in Singapore Representative office set up Yu Xin Electric Appliance in Singapore. "So Yu Xin Electric Appliance Co., Ltd. plus 55% shares of Xinfei Group convinced Liu Bing-Yin to agree."
In fact, Yu Xin Electric and Hong Leung Electric holdings of 51%, the same can be achieved on the new flying electrical control of the position.
Different from the biased view, the joint venture with Hong Leong Group at that time contributed to the leapfrog development of Xinfei. "After the joint venture invested 420 million to build China's largest fluorine-free refrigerator plant with an annual capacity of 600,000 units, the internal Called Plant No. 39, completed and put into production on January 5, 1996. One middle and high-ranking official told the surging news correspondents that the introduction of the fluorine-free refrigerator conforms to the international and domestic calls for the protection of the ozone layer and has gained market after the product was introduced widely accepted.
In 1996, the sales volume of Xinfei Refrigerator topped 1.2 million units, breaking the total profit of 300 million yuan for the first time.
'The new fly is a flourishing time.' 'The above-mentioned high-level media told the surging news reporters, because they did not promptly shift from' product management 'to' brand management ', has yet to be able to' diversified 'new fly in the peak period has begun to bury Under the hidden danger.
Li Liangyin talks with Gao Jialin (right), former chairman of Xinfei
'Diversity' missed: refused to go public, has tried twice to enter the air conditioning industry
The sales of the new flyers increased from 1.2 million units in 1996 to 1.6 million units in 2000, but sales have been stagnant. The profit margin has dropped from 16% in 1996 to less than 6% in 2000. The data disclosed by Li Liangyin in the book shows the steady decline of Xinfei Electric Appliance.
"Compared with the diversified beauty, the brand value of the United States was 2.9 billion yuan in 1997, while the brand value of the new flight reached 3.2 billion yuan. In 2001, the sales volume of the United States series almost reached 15 billion yuan, while the new Flying sales are 2.5 billion -30 billion hovering between 'and the refrigerator industry' four major families' members of Kelon, Rongsheng, Qingdao Haier, the gap is even greater.
What is the use of 'big and all'? Haier is not engaged in a lot of new stuff? Practice has proved nothing worthwhile cattle, the profits and taxes have not been more than one-third of me. "" Advertisement in the end " Book, disclosed Liu Bingyin's view on 'diversity.' For the listing of the enterprise, Liu Bin silver did not think so, 'listing, listing! Beijing, Shanghai, Shenzhen ... ... dial a wave of intermediaries ran over' tinker 'I am not tempted, and I told them that the market is not a thing of money, and I have no money to spend on the bank. The bank has also lent me miles.' In the 'Advertisement In the end "written in this book.
In 1993, Midea Appliances and Qingdao Haier signed onto the capital market one after another to capitalize on the financing conditions convenient for the capital market. As a result, the two companies walked farther and farther along the diversified road and left Newfound behind.
After realizing the gap, Liu Bingyin also twice promoted the new fly to diversify into the air conditioning industry, but failed twice.
The first was in the second half of 1997 when Whirlpool invested in Shenzhen for three consecutive years in a loss of its blue-wave air conditioners and Whirlpool decided to "liquidate" the Blue Wave air-conditioner for a price of 200 million yuan.
However, attempting to take over and then achieve the new idea of 'diversification', but was opposed by the Board of Singapore. 'Beyond the expectations of the Chinese executives Xinfei Electric.' Li Liangyin said in the book, as representative of the new electrical Xu Xiaodong That blindly involved in the risk of air conditioning industry is too large, and Leung Kwan Lam, director of the Hong Leong Group also agreed, the acquisition decision was eventually rejected by the board of directors.
The second attempt to enter the new air-conditioning air-conditioning industry was in early 2000. At that time, Xinfei Electric attempted to acquire Zhongshan City, Guangdong Province Sanrong air-conditioning Electric Co., Ltd. 'Even the handover time are basically talking to Sanrong company.' Informed sources told surging news reporters, the acquisition once again rejected by the Hong Leong Electronics and Henan New Electric, the same reason not want to blind expansion of new flying and engage in a "consumable war."
'Especially in the later years of Comrade Liu Bing-yin, in the middle of senior management and even in senior executives, they lacked decision-making autonomy and were unable to adapt to the rapid changes in the market. As a result, the response of Xinfei was very sluggish. In addition, marketing tools and marketing platforms lagged behind, The overall performance of the new flying electrical appliances began to decline, the market changes was once in a passive situation. "" Advertisement in the end, "a book wrote, eyes quietly watching the rapid decline in sales, which makes Liu Bing silver very angry, temper more and more The bigger the time, he even kept changing the vice president of sales and regional manager, hoping to inspire the revival of the sales performance by inspiring the subordinates' potential through the appointment and dismissal of the 'leverage'.
Unfortunately, on September 15, 2001, Liu Bingyin died of gastric cancer at Guangzhou Southern Hospital, at the age of 61. At this point, the era of Liu Ping-yin ended completely and until the end of his life, Liu Bing-yin failed to lead the new flight toward 'diversification' .
Shutdown in the new flying electrical appliances
Cultural Conflict in Hong Leong: Employees take the initiative to fire and let it burn
In fact, in the six months prior to Liu Bingyin's death, the ownership structure of Xinfei Electric changed in 2001. In February 2001, Hong Leong Co., Ltd. acquired a 6% stake in Yu Xin Electric Appliance. As a result, the shareholding ratio of Hong Leong Electric It increased to 51%, Singapore side has a controlling stake.
Although the controlling interest is changed, according to the joint venture constitution, China still owns the operation and management rights of the joint venture.
After Liu Bingyin's death, Li Gen took over the baton as chairman and party secretary of Xinfei Group and Xinfei Electric Co. After taking over, Li Gen immediately compressed the management department and changed the original vertical management mode to flat Management mode, from the previous "power monopoly" into decentralization to the team, and the implementation of incentives.
In 2002, Xinfei smashed its ranking for 6 consecutive years in a row, ranking third for the first time in the industry. In 2003/2004, it ranked the second consecutive place in the industry. "Li Liangyin wrote in the book To 2004, New Fly once again achieved a historic breakthrough, refrigerator sales exceeded 200 million units to 2.1 million units, an increase of 21%, the highest record.
Li Gen era did not last long .2005 September, Xinxiang local government 510 million yuan for the price of 39% of the shares sold to the Hong Leong shares, Hong Leong appliances in the proportion of new flying jumped to 90%. So far, Hong Leong has finally obtained the operation and management of the new flying electrical appliances.
In November 2006, Malaysian Zhang Donggui replaced Li Gen in charge of Xinfei Electric Appliance Co., Ltd. and carried out drastic reforms on Xinfei Electric Appliance. The conflict between Chinese and foreign management methods and corporate culture has also started.
'A large number of managers from Singapore airborne to the new fly.' 'A former high-level Xinfei Electric told reporters surging in 2005 equity transfer, the new mid-level management personnel does not exceed 100 people, but in 2010 Year, this figure has soared to 400 people.
The rapid expansion of managers has also led to the decision-making process becomes more complicated, inefficient.Li Gen Lee 's president (or general manager) - vice president (or deputy general manager) - management department' decision-making process, and ultimately become 'President - Chief Operating Officer - Senior Vice President - Vice President - management at all levels', 'just a business trip reimbursement, not a few days to sign all the words.'
'Because the business is not mine, I was hired to manage the business.' Zhang Donggui has said frankly.
'Formal workers, migrant workers, are new owners.' This is a widely circulated slogan in the new flying employees, but Zhang Donggui quite disgusted with him, in his view, the business is the boss, the boss is Owners, employees are just employees.
On the first day of the sixth day of the sixth day of each year, Liu Bingyin welcomes employees to work with middle-level and senior cadres at the doorway. "The middle and high-ranking officials said:" After the Singapore management staff came in, these were gradually canceled. I think you are employees, you come to work should be, I also welcome you to do?
'Chinese New Year holidays, the company insisted hair rice rice these rituals.' He told the surging news reporter, some employees have suggested to make a direct money, but was rejected Liu Bing-yin, 'other units will see the new fly will feel good to fly back Family happy, Newflying staff also have pride.
As long as it is not a business trip, Liu Bingyin every day at eight o'clock in the 'new flying blue' tooling appears in the company space, with the company staff to do radio gymnastics, 'Every month the company will give employees a collective birthday, the company canteen can improve The next meal, everyone happy music.
Under Zhang Donggui's cultural reconstruction, the culture left behind by Liu Bingyin was gradually abandoned.
'It is still a pity to use foreign management tools and do not know how to work together.' One person close to the top of Hong Leong's senior management team failed to renew his corporate culture.
On March 15, 2003, a fire broke out in the most advanced production line of fluorine-free refrigerators. Employees did not wait for fire engines to rush into the factory to extinguish the fire. The factory was dark and the factory was completely renewed after ten days. 'For the new flight staff feelings about the changes in the new flight, the insiders cite two vivid examples, he said that in 2007, Xinfei Electric air-conditioned plant and a fire broke out' when the staff stood on the road While watching the fire, fuck it and burn it, I was on the scene, only 4 years from love to hate, could this company collapse?
Xinfei office area hospital
Huge losses waiting for new students: The government hopes to revive the brand new fly
'Should not be a loss until 2010.' The above told surging journalists, in December 2007, Henan Province became the pilot provinces subsidized home appliances to the countryside, benefiting from this policy, the new performance has not yet appeared a loss, 'At that time Some 50 billion companies have to buy a new fly, but Zhang Donggui did not sell, he believes that the new fly can be further development, to sell a better price.
Thanks to the blessing of home appliances subsidies to the countryside, the entire refrigerator industry has shown a trend of rapid growth, while the increase in the size of the new flyers are only single digits, because they failed to lead the new fly electrical appliances to complete the 'Board of Directors' requirements, Zhang Donggui in 2010 November sadly leave.
Data show that the new loss of flying electrical appliances is precisely from the beginning of 2011. 2011 to 2016, the loss of new flying electrical appliances were 51.66 million Singapore dollars, 117 million Singapore dollars, 37.63 million Singapore dollars, 60.64 million S $ 110 million, S $ 110 million, S $ 130 million, a total of Rmb507 million in losses over a six-year period, at a loss-to-sum ratio of Rmb2.483 billion at current exchange rates.
After Zhang Donggui, Hong Leong began to change his coaching frequently and each one came up with a different strategy. "The above-mentioned people close to Hong Leong told the surging news reporters that some cut advertisements and some cut prices on the products Some cut off outlets, are for a short period of time to make the report look good.
Public information shows that in November 2010, after Zhang Donggui left, in December, the new vice president of new flying appliances Gao Jialin retirement two years later was re-enabled as chairman of the new flight in August 2011, the chairman changed to Nguyen Kennedy as The same year, the original sales general manager Yang Jian appointed by Hong Leong, the former general manager Liang Shangyong, chief financial officer Yin Haoen have left the new flying electrical appliances.
Before the new fly in the country has 18,000 sales outlets, and later cut to 10,000 outlets, so that the cost is the easiest, although the loss reduced, but there are no new products out of channels, sales also dropped sharply. He told surging journalists that policy makers in Hong Leong also opposed the electricity supplier and did not finally launch the electricity business unit until 2013.
Frequent changes in personnel and non-stop replacement strategy not only failed to help the new turnaround, but further hurt the new flying electrical appliances, sustained huge losses eventually make Hong Leong also unable to continue to support.
Hong Leong replenished its capital by 400 million yuan after employees stopped working, and later invested 750 million yuan, a total of 1.15 billion yuan. "The above informed sources told the surging news correspondents that at present, Xinfei Electric has fixed assets of 600 million yuan, Assets of 900 million yuan, while the larger debt of 400 million yuan owed by banks, suppliers 700 million yuan owed loans to 1.15 billion shareholders, a total of about 2.25 billion yuan.
Surging correspondents access to information shows that Xinxiang city government has sent many people to contact with large domestic appliance companies, in addition there are some enterprises take the initiative to contact with the new flight, 'all parties are in full swing to find investors, if we can find a suitable investment People, funds quickly come in, the brand value of the new flight can still hold, if dragged for too long, is also hurt the new flight. "The source said, 'the government also hopes to revive the brand new flight, but also very Confidence.
Surging news reporters also learned that the first meeting of Shinsegae's creditors will also be held on January 19.