Jian'ou, abbreviated as "Zhi", is a county-level city under the jurisdiction of Nanping City, Fujian Province. Located in the north of Fujian Province, in the upper reaches of the Minjiang River, it is the county-level city with the largest land area and the largest population in northern Fujian Province. It is a pilot demonstration county for the integration and development of rural industries in China, the hometown of bamboo in China, the hometown of cone chestnut in China, the capital of root carving in China, the national modern agricultural demonstration area, the national organic product certification demonstration and creation area, and the famous liquor city in southeast China.
Jian'ou has a long history, outstanding people, has a written history of more than 3,000 years, is a provincial historical and cultural city with a history of more than 1800 years of county history, one of the earliest four counties set up in the history of "Fujian", the earliest set up in the history of Fujian, Fujian's construction is taken from Jianzhou (now Jian'ou). In 943, Wang Yanzheng declared himself emperor in Jianzhou and established the state of Yin; in 945, Wang Yanzheng changed the state of Yin to the state of Min, and the capital was still located in Jianzhou; in 1913, the government was withdrawn, and Jian'an and Ouning were made Jian'ou County, and in 1992 the county was withdrawn to establish a city. According to the data of the seventh population census, as of 00:00 on November 1, 2020, the permanent population of Jian'ou City was 434451 people. In 2020, the city's GDP will reach 28.029 billion yuan.
The business celebrities introduced to you today are from Jian'ou, Nanping, Fujian Province, who have achieved excellent academic performance since childhood, and have always been local academic leaders, graduated from Changchun University of Geosciences and Fuzhou University, and obtained master's degrees. Founded In 2002, He founded Liding Optoelectronics, under his leadership, ushered in rapid development, became a well-known enterprise in the domestic lens industry, and was listed on the main board of the Shanghai Stock Exchange in 2020, and he also successfully doubled his wealth. He is Wu Fubao, the founder and actual controller, chairman and general manager of Xiamen Liding Optoelectronic Technology Co., Ltd. From the very beginning, this Jian'ou entrepreneur decided to "not take the usual road", diligently pursued high-end research and development, and strived to create a "national brand" in the industrial TELEVISION lens industry that can compete with Japanese brands.
Liding Optoelectronics' "high-precision" optical lens products can realize fisheye lenses with a field of view level of 255°, fixed-focus lenses up to 32 million pixels, and starlight-level zoom lenses with a light (F value) of 0.95. In addition to the "high-precision end", in our side, as long as there is a "lens" in the place, it may be a powerful figure of Dingguang, such as roads, community security video surveillance, driving recorders, drones, VR/AR equipment, sports DV....... Over the past 18 years, Liding Optoelectronics has benchmarked the international first-line standard in terms of product performance, continuously improved the stability of product performance and quality of the main optical lenses, and with excellent optical lens design capabilities, reliable process capabilities and advanced process levels, Liding Optoelectronics occupies a position in the international market, and optical lens products are exported to more than 80 countries and regions.
Looking back, Wu Fubao's successful life is inseparable from what he has learned, which shows that knowledge is the first productive force and the cornerstone of scientific and technological innovation. Today, Wu Fubao is well-known in the optoelectronic industry and is also a good example for young people to learn. Xiaobian specially sorted out Wu Fubao's information for everyone to refer to and learn from as an example, and also hoped that he could continue to work hard, be the pioneer and model of the times, set a good example for the people, and make more contributions to society.
So, who is Wu Fubao?
Wu Fubao is a relatively low-key rich man, he has never revealed his detailed hard work experience to the media, and his experience on the Internet is also a short dozens of words "summary summary", which is very mysterious. Fortunately, after many searches, Xiaobian finally found some specific experiences about Wu Fubao.
Wu Fubao, born in November 1963, Nanping Jian'ou people, graduated from Changchun University of Geosciences, Fuzhou University master's degree. He is currently the actual controller, chairman, general manager, director and legal representative of Xiamen Liding Optoelectronics Co., Ltd., the chairman of Xiamen Yiweida Investment Co., Ltd. and Xiamen Ruiying Intelligent Technology Co., Ltd., the executive partner of Xiamen Yiweida Investment Partnership (Limited Partnership), Xiamen Dingzhijie Investment Partnership (Limited Partnership), Xiamen Xinliding Investment Partnership (Limited Partnership), Xiamen Liding Investment Partnership (Limited Partnership), and the Executive Director of Xiamen Dinghao Investment Co., Ltd. On October 27, 2021, Wu Fubao, Wu Hongyue and his father and son ranked 1526th in the "2021 Hurun Rich List" with a wealth of 4.6 billion yuan.
Wu Fubao, a billionaire, was born in an ordinary family in Jian'ou, Nanping, Fujian Province, with excellent academic performance from childhood, and was a neighbor who was "someone else's child"; he was admitted to Changchun University of Geosciences at the age of 18; he studied for graduate school at Fuzhou University at the age of 22; after graduating from a master's degree at the age of 25, he successively served as the business manager and assistant general manager of Xiamen Kaiyuan Foreign Trade Company, the assistant general manager of Xiamen Far East International Trade Company, and the general manager of Dalian Dai mengde Grain and Oil International Trade Co., Ltd. Manager of the international trade department of Zhongbao Dai Mengde Co., Ltd., deputy general manager and general manager of Fuzhou Yiweida Optoelectronic Technology Co., Ltd., entered the field of imaging optics at the age of 38, immersed himself in the study of imaging optical design technology, has rich experience in the design and development of optical lens products, and led the development of a number of invention patents of the company;
After several years of precipitation, the 39-year-old has accumulated rich industry experience and a large number of contacts, he decided to start a formal entrepreneurial road: formally founded Xiamen Liding Optoelectronic Technology Co., Ltd., and served as the chairman and general manager; at the age of 42, he became the director of the second board of directors of Hubei Xinhuaguang Information Materials Co., Ltd., and acquired a land cover plant in Xiamen Haicang Xinyang Industrial Zone and established sales outlets in LA and Shenzhen in the United States; at the age of 47, he invested in aspheric technology and established Freeform Branch At the age of 52, Zhangzhou acquired 200 acres of land to establish a future long-term production base; at the age of 55, the company completed the shareholding system restructuring, changed its name to Xiamen Liding Optoelectronics Co., Ltd., and established the Xiamen Haicang Southern Industrial Production Base and Jiangxi Shangrao Branch to expand the optical cold working production base;
At the age of 57, he led Liding Optoelectronics to ring the bell in the A-share IPO on the main board of the Shanghai Stock Exchange, becoming the 50th A-share listed company in Xiamen, the 14th domestic and foreign listed enterprise in Haicang, and was listed for the first time in the "2020 Hurun Rich List", ranking 1113th with a wealth of 5.1 billion yuan; at the age of 58, it was listed again in the "2021 Hurun Rich List" and ranked 1526th with a wealth of 4.6 billion yuan;
Committed to creating a "national brand"
"The road to simplicity lies in moderation, not rushing forward, and stable development." Wu Fubao said that this is his business philosophy: steady operation, focus on technological improvement, with brand, quality, innovation and constantly win the market, "make a lens, tree a monument." ”
Wu Fubao's entry into the lens industry was the result of serendipitous coincidence at the beginning of the century. In 2002, he fully acquired a factory on the verge of closure in Fuzhou, and he "used dozens of large trucks" to relocate all the Fuzhou production lines to Xiamen, settled in the International Student Entrepreneurship Park, officially registered Xiamen Liding Optoelectronic Technology Co., Ltd., and embarked on the road of creating a "national brand".
From the beginning of taking over the enterprise, Wu Fubao chose the latter "blue ocean model", not seeking to be a large enterprise but seeking to be a strong enterprise. "My philosophy is to either don't do it, or make an influential brand." Wu Fubao said that as a business operator born in science and engineering, he knows that it is easy to become a large enterprise and it is difficult to become a strong enterprise, and he also deeply believes that industry can save the country, and believes that only by aiming at high-end manufacturing is the real long-term way.
"In this industry, the Japanese have been meticulously crafting for more than 80 years, while China has only been 20 years." He said that in terms of technology, process and management, the Chinese counterpart as a whole lags behind the Japanese counterpart. Therefore, from the day of its establishment, Wu Fubao has set the competition goal on its Japanese counterparts, for which it has continuously invested in research and development forces, and has not hesitated to spend a lot of money and high prices to hire global industry technology research and development elites, "like the CTO of our R&D department and the COO of the operation center, they are all high-paid foreign experts, of which the CTO (technical director) is Japanese."
Wu Fubao said, "The company not only has Zemax, Zhongwang CAD, Creo4.0 and other basic optical design and structural design software, but also increased investment in high-precision testing instruments and experimental equipment, purchased three-dimensional, UA3P, spectrophotometer, infrared interferometer, polarizer, TAYLOR HOBSON, RoHS detector, roundness meter, HR, eccentricity detector, interval tester, integrating sphere, MTF testing and other testing instruments and walk-in high and low temperature humidity and heat testing chamber 3. High and low temperature (hot and cold) impact test chamber, IP9K waterproof test chamber, microcomputer-controlled electronic universal testing machine, temperature, wet and vibration three comprehensive test chamber, dustproof test chamber, automatic impact test bench and other experimental equipment, providing a strong guarantee for the quality of new products. ”
"High-end manufacturing, technology is based on precipitation and accumulation, need to have time and financial resources to invest." Wu Fubao introduced that the reason why he is willing to invest heavily in technology research and development is because since the establishment of Liding Optoelectronics, he has been committed to making a strong enterprise rather than a large enterprise, committed to becoming a respected enterprise, and committed to establishing a "national brand". Today's Liding Optoelectronics, with the quality of the product to prove the technical level to reach the international first-class, won the international market recognition of new brands from China, but also won the respect of international competitors.
Wu Fubao said that in 2014, an international authoritative evaluation agency evaluated that the CS lens independently developed and produced by Liding Optoelectronics ranked fifth in the world and the first in China. "Excellent quality, so that Liding Optoelectronics has become a long-term supplier of many world-class enterprises." Panasonic has assessed many of its peers in China, and they feel that the only one in China that can become their qualified supplier is our Liding Optoelectronics. Wu Fubao proudly introduced.
In addition to Panasonic, Wu Fubao introduced that many of the global merchants of Liding Optoelectronics are world-class large enterprises, "the top 5 enterprises in the field of global industrial video are all customers of the company".
For more than ten years, Liding Optoelectronics has independently developed and designed more than 1500 different optical lenses, and has obtained 67 invention patents and utility model patents, which is one of the manufacturers with complete variety planning among similar lens manufacturers. The company's products cover zoom, fixed focus, ultra-wide angle, ultra-low illumination, no distortion, fisheye and other lenses, the application areas cover security, machine vision, biometrics, medical, animation imaging, intelligent transportation, video conferencing, smart home and action cameras and other fields, for the global especially in the European and American market segments to provide optical solutions, 90% of the company's products exported to Europe and the United States.
The 50th A-share listed company in Xiamen
Liding Optoelectronics, full name Xiamen Liding Optoelectronics Co., Ltd., is a supplier of optical solutions for high-end customers in the global optoelectronic segment, and is a national high-tech enterprise integrating R&D, design, production and sales. The company's business covers intelligent security, computer vision, automotive electronics and professional consumer and specialty applications, and its products and services are mainly aimed at the world's leading companies in the segment. From 2016 to 2018, the operating income achieved by Liding Optoelectronics was 239 million yuan, 422 million yuan and 526 million yuan, and the net profit was 87.3539 million yuan, 134 million yuan and 202 million yuan, respectively, and from 2016 to 2018, the operating income and net profit continued to grow; from 2019 to 2020, the operating income achieved by Liding Optoelectronics was 465 million yuan and 417 million yuan, respectively.
Optical lenses are the core components of optical imaging systems, widely used in smart phones, security video surveillance, machine vision, in-vehicle imaging systems, as well as smart home, video conferencing, sports DV, VR/AR equipment, drones, motion capture, 3DSensing, computer vision and other emerging consumer electronics industries. Nowadays, video surveillance and mobile phone cameras fill life with cameras. These ubiquitous cameras are likely to be produced by Chinese manufacturers, because in 2018, The global mobile phone camera market share of Chinese manufacturers accounted for at least 79%; the global security surveillance camera market share accounted for at least 93.7%. These manufacturers include Fuguang Co., Ltd. (688010), United Optoelectronics (300691) and Shunyu Optics (HK2382) of 100 billion. However, the gross profit margin of these well-known listed companies is not as good as that of Liding Optics: the gross profit margin of Liding Optoelectronics has always remained above 52% in recent years, while the average gross profit margin of other domestic comparable listed companies is about 35%. Among them, Sunny Optics (HK2382) has the highest gross profit margin, but it does not exceed 45%.
The reason why the gross profit margin of Liding Optoelectronics is higher than that of domestic comparable companies is that it mainly exports high-end products, and its products have higher added value, and naturally have higher gross profit margins. To become a supplier of high-end optical lenses from overseas high-quality manufacturers, the quality of Liding Optoelectronics products is crucial. At present, Liding Optoelectronics 255 ° field of view horizontal fisheye lens, up to 16 million pixels of fixed focus lens, light to 0.95 starlight zoom lens, long focus short-wave infrared lens and other optical lens products, all belong to their respective subdivisions with high technical difficulty, in the industry-leading level of products. Liding Optoelectronics can produce so many high-quality optical lenses, mainly because of its high technical level, and has formed six core technologies, including "temperature drift control technology of optical system", "ghost image of optical lens, analysis and control technology of stray light" and so on. For example, when manufacturing a fixed focus lens, because the structure of the glass lens will change with temperature changes, the focal length will drift and the imaging will not be clear.
After years of development, Liding Optoelectronics has formed long-term and stable cooperative relations with many internationally renowned EMS manufacturers and terminal brand customers, and its products are exported to Hong Kong, Taiwan, Japan, South Korea, the European Union, the United States, Canada, Thailand and other countries and regions, and have a high reputation in the global optical lens industry. At present, the company has become an important partner of security video surveillance, Emerging Consumer Electronics and other well-known multinational companies in the field of security video surveillance and emerging consumer electronics such as Axis, Arlo, Ring, Bosch, Panasonic ( Panasonic ) , Avigilon , Philir ( FLIR ) .
On July 30, 2020, Xiamen Liding Optoelectronics Co., Ltd. was listed on the main board of the Shanghai Stock Exchange, with a stock code of 605118, becoming the 50th A-share listed company in Xiamen and the 14th domestic and foreign listed enterprise in Haicang. The opening price of Liding Optoelectronics was 11.14 yuan, the closing price was 13.36 yuan, and the closing price increased by 43.97% compared with the issue price, and the market value was 5.417 billion yuan calculated at the closing price. According to the latest financial report of Liding Optoelectronics, in the first three quarters of 2021, the total operating income was 360 million yuan, an increase of 16.6% year-on-year; the net profit attributable to the mother was 120 million, an increase of 1.3% year-on-year; and the earnings per share were 0.29 yuan. Export business is an important source of income and profit for the company, so the changes in trade policies in major selling countries have a greater impact on the company's operating performance.
The secretary of the board of directors of the "post-90s" is worth nearly 900 million
With the listing and trading of Liding Optoelectronics, Wu Hongyue, the secretary of the board of directors of the company, has thus become the first post-90s member of the board of directors of a listed company in Xiamen. Wu Hongyue served as the secretary of the board of directors of Liding Optoelectronics in May 2018, and entered the board of directors as a director in 2019, holding 13.50% of the shares of Xiamen Liding Optoelectronics Co., Ltd., with an annual salary of 378,800 yuan, according to the closing price of Liding Optoelectronics of 16.22 yuan on January 7, 2022, Wu Hongyue's current value is about 892 million yuan.
According to public information, Wu Hongyue, born in October 1992, a native of Jian'ou, Nanping, has permanent residency in the United States, a bachelor's degree, graduated from Boston University, a bachelor's degree in economics, and holds a certificate of qualification for the secretary of the board of directors of the Shanghai Stock Exchange. He is currently the actual controller, director, secretary of the board of directors and financial director of Xiamen Liding Optoelectronics Co., Ltd. He once served as a supervisor of Xiamen Dinghao, a sales engineer, optical design engineer, technical support section chief, director and secretary of the board of directors of Xiamen Liding Optoelectronics Co., Ltd., has rich experience in customer project research and development and sales, has played a key role in important nodes of the company's core customer projects, and is one of the leaders of business sorting and standardization and intermediary communication in the process of the company's IPO project. On July 20, 2020, Wu Hongyue participated in the road show of The Listing of Liding Optoelectronics as the secretary of the board of directors. He said that Liding Optoelectronics' listed companies in the same industry in China include A-share listed companies United Optoelectronics, Fuguang Shares, Yuhong Optics and Hong Kong listed company Sunny Optical Technology. If you look at the average price-earnings ratio of Fuguang shares and Yuguang Optics, the stock price of Liding Optoelectronics may rise to about 30 yuan, and Wu Hongyue's body value is expected to continue to rise.
In fact, Wu Hongyue also has another identity, and he and Wu Fubao, chairman and actual controller of Liding Optoelectronics, are father and son. According to the prospectus, the actual controllers of Liding Optoelectronics are Wu Fubao and Wu Hongyue father and son, of which Wu Fubao indirectly holds 51.36% of the equity of Liding Optoelectronics through Yiweida Investment, Yiweida Partnership, Dingzhijie Partnership, Xinliding Partnership and other entities, and Wu Hongyue indirectly holds 15.74% of the equity of Liding Optoelectronics through Yiweida Investment, and the two together hold 67.10% of the equity of Liding Optoelectronics.
epilogue:
From an ordinary foreign trade salesman, he counterattacked to now helm the well-known enterprises in the domestic lens industry and single-handedly created an A-share listed company. Entrepreneurship changes life, and Wu Fubao's experience can be said to be the best example of "knowledge changes destiny". Thanks to this, Wu Fubao also won the Hurun Rich List and became the "new richest man in Nanping Jian'ou".
Wu Fubao's unremitting efforts to counterattack life are really admirable. His wealth story may bring some inspiration to those who are struggling. I hope that the majority of entrepreneurs can also understand from the story of this big guy, so that their careers can be improved and reach a higher level.
Resources:
1. "Liding Optoelectronics: In order to cast a "national brand""
2. "Liding Optoelectronics: Build a national brand and strive to become a world-class optical solution provider"
3. "Liding Optoelectronic Optical Lens Gross Profit Margin Stands Out Over Peers: Export Overseas, No Fear of Trade War"
4. "Huawei's smart car once again leverages the enthusiasm of the industrial chain, and Liding optoelectronic optical mirror single product is the most profitable"
5. "Liding Optoelectronics Listed on the Shanghai Stock Exchange: Market Value of 5.4 Billion Wu Fubao Family Enterprises"
6. "Liding Optoelectronics Impact IPO: Overseas Market Accounted for 78.24%"