As the call for hydrogen fuel cell vehicles is getting louder and louder, Snowman has also stepped on the cusp of this emerging industry. From April 6 to 9, Snowman shares have won 4 stop-and-go boards.
As of the close of trading on April 12, Snowman shares rose another 3.88% to 9.10 yuan, with a total market value of 6.1 billion yuan and the boss's net worth of 1.3 billion yuan.
<h1 class="pgc-h-arrow-right" data-track="7" >01 Once the business failed, the comeback achieved ice-making equipment to carry the handle</h1>
Lin Rujie was born in October 1968 in Changle, Fujian Province. After graduating from high school at the age of 20, he founded a trading company in his hometown as soon as he graduated, but later went out of business because of bad business.
From 1990 to 1993, Lin Rujie went to Japan to study, and successively studied at Komajin Language Academy in Tokyo, Urayasu Business School in Chiba Prefecture, and Mitsubishi Heavy Industries Refrigeration Technology College.
After learning refrigeration technology, he worked in refrigeration technology for three years in Takagi Industries (Co., Ltd.) in Japan. After returning to Japan at the end of 1997, he successively joined THE JAPANESE MARUZEN (Fuzhou) company and MARUZEN (HIGASHIYAMA) company as factory director and general manager.
7 years of study and practical experience in the refrigeration industry has made Lin Rujie ignite the passion of entrepreneurship. In March 2000, he founded Changle Snowman Refrigeration Equipment Co., Ltd. (the predecessor of Snowman Shares).
Since then, Snowman shares have gradually developed and grown under the leadership of Lin Rujie. By 2005, Snowman was already the bearer of the domestic ice-making equipment field.
Whether it is an international and domestic large supermarket such as Wal-Mart and Yonghui Supermarket, or giants such as Gezhouba, China Water Conservancy and Hydropower, and Huaibei Mining, they are all customers of Snowman Shares.
<h1 class="pgc-h-arrow-right" data-track="7" >02 Acquisition of international leader</h1>
As the company grew bigger and bigger, Lin Rujie found the biggest shortcoming of the industry, that is, the "ceiling" was too low and the scale of the industry was too small.
This made him difficult, and after careful consideration, Lin Rujie decided to expand the company's industrial chain and develop upstream first.
In 2008, Snowman began technical cooperation with the Swedish centennial company OPCON. "In the process of technical cooperation, we realized the importance of mastering the core technology and the world's well-known brands, so we launched a series of international mergers and acquisitions and equity participation." Hua Yaohong said.
At the end of 2011, Snowman successfully listed on the A-share market, raising 726 million yuan, and after obtaining these funds, the company began a wave of acquisitions in the capital market.
Since 2013, Snowman has acquired some or all of the shares of five or six companies in a row.
These include OPCON's core technology and full stake in compressors; the global assets of Rifcom Compressors in Italy; a stake in CN corporation in the United States; and a stake in Canadian Water Gion, which became its largest shareholder.
In addition, Lin Rujie also won two Chinese companies, Hangzhou Longhua and Jiayun Oil and Gas, one involving central air conditioning and the other involving oil and gas, both downstream of the compressor.
With the pace of mergers and acquisitions of the company, from 2013 to 2015, the stock price of Snowman shares also rose, with the highest increase of 390% in 3 years.
The reason why Snowman shares stepped on the outlet of hydrogen fuel cells is because among the companies it acquired, Sweden's OPCON invented the oxygen supply system and hydrogen circulation pump for fuel cell vehicles, and was once the supplier of air compressors used by 85% of the world's fuel cell system companies.
Another company, Canadian Water Ji Neng, is also a global leader in the field of hydrogen energy, mastering a large number of electrolyzed water to produce hydrogen; designing and building hydrogen refueling stations; proton exchange membranes and fuel cell stack technology.
<h1 class="pgc-h-arrow-right" data-track="7" >03 Last year' loss was 180 million</h1>
Even with a large number of excellent assets in the field of hydrogen energy, it is strange that the Snowman shares do not have good profitability. Its financial data shows that from 2017 to the first three quarters of 2020, the company's non-net profit was negative, with a total loss of nearly 190 million.
According to the 2017 annual report of Snowman Co., Ltd., after completing the transformation from the traditional ice industry to the upstream industry of refrigeration compressors, the company is currently laying out the transformation from a high-end refrigeration equipment manufacturer to a comprehensive energy utilization system solution provider and service provider.
In this process of transformation, the company's internal impairment provisions and industrial layout in the compressor business and hydrogen energy field, and the external hydrogen energy industry are still on the eve of the outbreak, etc. have become the main reasons for the company's negative deduction of non-net profit for many years.
According to the performance report released by Snowman In February, the net profit in 2020 was nearly 180 million yuan, down 415.6% year-on-year. The achievement also set the company's biggest loss since going public in 2011.
In the future, if there is no performance support, even if the head wears the crown of the leader in the field of hydrogen fuel cell vehicles, the stock price rise of Snowman shares may be difficult to continue.
(Author |.) City Boundary Wang Shuaiguo Edited by | Lang Ming)
![If you don't work hard, no one will ever be fair to you, and only after you work hard, have resources, and have the right to speak, you can fight for a fair opportunity for yourself. Good Night [Little Snowman][fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)