Wenzhou'S "Capital Storm"

On the morning of September 13th, in the auditorium of AOKANG group headquarters, Wang Zhentao and bender held their hands tightly under the glowing lamp.

Wang Zhentao is the chairman of AOKANG group, the largest private shoe making enterprise in China.

The two sides formally formed a global strategic alliance, and Kearney will make a comprehensive plan for the 2008~2012 year development strategy of AOKANG group, aiming directly at the listing plan within two years.

"Listing is inevitable. At present, there are 20 investment banks and securities companies such as Goldman Sachs, Macquarie, and so on." we have initially identified 5 candidates, and now we will choose 2 of them to further discuss, "said AOKANG.

Wang Zhentao said that with the listing of other shoe brands in Wenzhou, the market structure of the footwear industry has also faced fundamental changes.

In fact, it is not just AOKANG, nor is it just the shoe industry in Wenzhou. At present, more than 100 enterprises in Wenzhou are waiting to appear on the market. Dozens of enterprises have introduced strategic investors, joint ventures, mergers and acquisitions, and acquisitions.

It has become the everyday language of Wenzhou bosses.

Wang Zhentao said, Wenzhou entrepreneurs have begun to consider the power of capital, which means that "Wenzhou manufacturing" has begun to enter the era of "two ways of industrial operation and capital operation".

Professor Fan Xiaoping, director of the EMBA center of Zhejiang University, who has studied quite well in Wenzhou, also said that Wenzhou is facing the pformation from the traditional economic era to the new economic era, and Wenzhou capital is achieving a new leap.

The power of example: Wenzhou is famous for its light industry, "China Shoes Capital", "China Electric Capital", "China's metal shell lighter production base" and "Chinese razor production base".

A large number of competitive industries with high market share and popularity at home and abroad have created the brilliance of "made in Wenzhou" once.

But at the same time, in recent years, the serious shortage of land, water and electricity has begun to make Wenzhou's densely packed enterprises complain incessantly. The shortage of rigid resources has already constituted the bottleneck for the development of Wenzhou. The competition from the doorway also makes Wenzhou's profit margins become smaller and smaller, and more and more manufacturing enterprises begin to move outside to find new outlets.

Statistics from Zhejiang Statistical Bureau show that in 2006, Wenzhou's gross domestic product was 183 billion 438 million yuan, an increase of 13.3% over the same period last year.

From the aggregate perspective, it ranks seventh in the Yangtze River Delta cities, and the growth rate has dropped to fifteenth place, ranking the second in Zhejiang province.

From this point of view, there is a point of view that "Wenzhou manufacturing" begins to decline and Wenzhou mode faces crisis.

Not only that, but the "occupy" of the latecomers and competitors made Wenzhou businessmen worried.

In the first half of May, the global stock offering of Belle International Holdings Ltd (1880.HK), which was also fought in the footwear industry, was frozen over HK $433 billion 700 million, breaking through the record set by ICBC last year.

The IPO, BELLE international raised a total of HK $8 billion 660 million, and its total market value exceeded HK $50 billion, which was called "the largest mainland retail listed company in the HKEx market value" by Hongkong media.

"Shock!"

Wang Zhentao, who has always been talkative, has cherishing words like gold. He only used two words to describe his feelings in the face of the above figures.

In the following September 12th, BELLE international stock price reached HK $9.8 and its market value was close to HK $78 billion. Wang Zhentao said, this can not but make him feel shocked again. "If these funds are used in the whole country, what should we do?"

Wang Zhentao's worries are not unfounded. Previously, BELLE International said it would take about 24% to 25% of its financing to open new stores in the mainland. According to the existing plan, 1000 new stores will be opened each year, including more retail sports stores.

Once again, Wang Zhentao felt "shocked" that BELLE was already in action. "A few days ago, we led the team to visit BELLE, and suddenly discovered that BELLE had begun to intervene in the production of men's shoes. Before going public, the enterprise was mainly just making women's shoes, adding another competitor, and it was a heavyweight."

Wang Zhentao said very seriously, "the recent pressure is really not small, and even can not sleep."

"Competition is inevitable and has entered the white hot state".

Wang Zhentao said that the shoe industry was a sunset industry in the past few years, but it did not expect China to develop so fast. In the next two or three years, the footwear industry will have a watershed. "With the listing of BELLE, Daphne, Anta and other footwear brands, the domestic footwear market is rapidly changing from a high industrial economy to a geometric capital growth economy, and the further concentration of market share can also be expected."

"Now, it is not" big fish eating small fish "," fast fish eating slow fish ", but" lions eat tiger ".

Wang Zhentao thinks, so it is time for AOKANG to go public. "In this era of pursuit of speed, we must consider the power of capital. Only in this way can we effectively integrate all kinds of resources and make enterprises bigger and stronger."

Not only is AOKANG, but "Wenzhou made" has also begun to act. In August 16th, Wenzhou's IPO, the first private shoe enterprise in Wenzhou, was listed on the mainland. The opening price was 45 yuan, an increase of more than two times that of the issue price of 12.6 yuan, and its Chairman Wu Zhize's figure also increased from the initial 370 million yuan to 1 billion 300 million yuan.

This is actually the fifth listed company in Wenzhou, but on the day of the announcement, AOKANG, red dragonfly, Muse bonwell, Semir, red and yellow blue, Tian Zheng, Kai Quan, and other more than 30 private enterprises were also listed on the Shenzhen Stock Exchange to see the soaring stocks. The Wenzhou businessmen repeatedly sighed that some people even claimed that they had to take out the calculator to figure out how many pairs of shoes or clothes they could sell to earn that amount of money.

Wu Zhize said that listing can not only further improve the internal governance structure, but also speed up the construction of direct chain network, but he also laughs that "it is not the listing that has wings, and the birds have been flying."

Qian Jinbo, who is also a shoe maker, is planning to put the red dragonfly on the market, and Zhou Chengjian, the chairman of the United States, who is the founder of the virtual operation, has also been reported to be listed in Hongkong. The largest CHINT electric appliance company in the mainland is planning to go public next year in the A share market.

Even if the listed companies are temporarily unknown, Wenzhou enterprises have begun to consciously join the capital war - the joint venture between Xia Meng group and Zegna group, the joint venture between Delhi group and French electrical giant Schneider, and Jinshi beer to join in intelu.

Fan Xiaoping said, "capital war" has become a breakthrough in the pformation and take-off of "made in Wenzhou", and it has also changed the impression that Wenzhou enterprises "prefer industrial investment to capital market" for a long time.

If we do not go public, we will be able to attract more talented people to join, control more resources, manage more standardized, and become a public enterprise. This will be the "third fires" that the "made in Wenzhou" enterprise is ignited, and it is another process of Phoenix Nirvana.

Fan Xiaoping is full of anticipation of the capital pformation of "made in Wenzhou".

Fan Xiaoping believes that in the era of rapid growth of the brand, the urgent task of "Wenzhou manufacturing" is brand innovation and upgrading. To achieve these, it is an important way to make changes through the capital market. "However, this fire needs to be burned thoroughly, knowing that capital operation is actually dancing with" golden fetters ".

In the face of the current phenomenon of private enterprises waiting for listing in Wenzhou, Wang Zhentao also has a sensible understanding: "being able to go public does not mean that it is a successful enterprise. Listing is only an internal requirement for managing internationalization and brand internationalization. If it can meet these requirements, it will be no harm if it is not listed."

Fan Xiaoping also said that many enterprises were confused by money when they were listed, and even the strategic planning before listing was temporarily dealt with. "Such enterprises, listing and capital operation are all blind, and the market may die sooner.

The speed of development of any enterprise should be compatible with its own ability.

Perhaps, based on this, businessmen in Wenzhou are making up for the knowledge of capital wars.

Fan Xiaoping disclosed that at present, over 550 of the students enrolled in the EMBA center of Zhejiang University accounted for over 10% of Wenzhou businessmen.