On August 12th, with the success of Weichai Power's acquisition of the Hunan Torch, Lu Guanqiu’s acquisition in China was once again declared a miss. But this does not change the fact that after one of the capital players has fallen to the ground, the Wanxiang Group under Lu Guanqiu is the successful model for the integration of Chinese capital and industry.
In the acquisition of domestic companies, Gu Chujun and Lu Guanqiu have played against each other several times. Gu Chujun’s lightning-like action has caused Lu Guanqiu to lose Yaxing and Yuxi shafts.
In the development of private enterprises, Lu Guanqiu acknowledged the combination of Delong's gold production. But soon, Gu Chujun fell and Deron collapsed. Lu Guanqiu is still an evergreen tree standing in the Chinese business community.
The fundamental difference from these capital players is also here. Lu Guanqiu is first a production operator, and later is a capital manager. With the gradual accumulation of business growth, when relying purely on production and management has become a bottleneck for corporate development, capital is like a steady stream of blood injection, stimulating the development of corporate production, as well as the rapid expansion of domestic and international markets through mergers and acquisitions. Lu Guanqiu has seized the opportunity for capital expansion in a timely manner.
"Wanxiang (in the world) only has a small market share. Our goal is to dominate the global auto parts market, and global cars need to be universal." Lu Guanqiu once said that the completion of this There are only two means to achieve the goal - its own rolling development and mergers and acquisitions, in particular, the latter is the company's rapid expansion. Lu Guanqiu is relying on its powerful and universal strength. It has established its position in the international auto parts market through acquisitions and mergers and has become the top 100 auto parts in China.
However, such a strategic vision Lu Guanqi in the domestic several acquisitions in the action significantly slower than the opponent half a beat, the results with the coveted company passed. However, we cannot but admit that universal rolling development has become the status quo today, precisely because Lu Guanqiu is "slow."
Take the road of combining industrial management and capital management, and continue to expand capital through various means such as production and operation, asset restructuring, foreign investment, and technological transformation. This principle we all understand, the magic of Lu Guanqiu is to use the means of playing capital more sophisticated and high-quality, and strive to minimize capital risks.
Yes, the integration rhythm of Lu Guanqiu is slow. In integration, the most difficult thing is to control the rhythm. Lu Guanqiu knows the secrets. Throughout his several major integrations, all of which lasted for several years, this slow rhythm, of course, would cost a certain amount of money or be eaten by others, but it was always stronger than the acquisition failure. In 2001, Lu Guanqiu acquired UAI, a US-listed Nasdaq-listed company. It took a number of years to formulate a series of clauses to circumvent the risk of mergers and acquisitions with the original shareholders, and successfully reduced the purchase price from 19.36 million US dollars to 420,000 U.S. dollars. Tai Chi Kung Fu ball is talked about.
From a parts and components company involved in real estate, tourism services, aquatic food and other industries, cross-industry mergers and acquisitions are often taboo. The late integration of mergers and acquisitions requires a completely different corporate culture, business strategy, and manpower structure, and the success rate is lower than that of peers. Lu Guanqiu has his own brilliant ideas. The acquisition of Huaguan Technology and Chengde Lulu is the case. His direct purchase of shares from the largest shareholder is actually quietly lowering the ratio of major shareholders. For example, Lulu Group's holding of Chengde Lulu's equity dropped from 64.9% to 38.9%. Fuhua Group holds Huaguan Technology. Equity fell from 85.33% to 45.75%, paving the way for his future plan to become the largest shareholder. And in Lu Guanqiu's merger and acquisition rules, the first is to not violate the direction of the existing industry, and not against the business purpose. This preconceived consideration is the great wisdom of Lu Guanqiu.
Lu Guanqiu is a myth in the Chinese business community. In recent years, Wanxiang has failed to integrate at home, and we feel that Lu Guanqiu is an ordinary person and cannot be too deified. However, after experiencing several failed mergers and acquisitions, he said: "We will take a small step and guarantee a 25% annual growth rate."
After savoring this simple sentence, we discovered the reason why Lu Guanqiu, who had already been in the Liaison Year, did not fall for 30 years at the mall. Compared to the all-powerful entrepreneurial figure, Lu Guanqiu's entrepreneurial history is not really shocking. However, many years have passed and many people have become obscure. Only the pace of the old Lutou is still so light and steady.