According to the Forbes Global Real-time Rich List, Wei Jianjun, chairman of Great Wall Motors, and his family are currently worth $30 billion, about 195 billion yuan, ranking 55th on the list. In the 2020 Hurun Rich List, Wei Jianjun was only worth 450 yuan, ranking 96th in the list. In less than a year, Wei Jianjun's net worth soared by 150 billion.
In fact, Wei Jianjun's skyrocketing wealth is related to the continuous rise in the stock price of Great Wall Motors. In the middle of May this year, The stock price of Great Wall Motors was 30 yuan / share, with a market value of only 280 billion yuan, and by mid-September, it had exceeded 60 yuan / share, and the stock price had doubled in four months, and the market value increased by nearly 300 billion yuan.
This at least proves that for Wei Jianjun, the second generation of the rich, the original choice was not wrong.
<h1 class="pgc-h-arrow-right" data-track="13" >01, Hebei Fu'er generation of fortune history</h1>
<h1 class="pgc-h-arrow-right" data-track="86" > uncle got into office after a car accident and relied on a 100,000 yuan pickup truck to gain a foothold</h1>
Wei Jianjun was born in 1964, his father is the first generation of entrepreneurs in Baoding, Hebei Province, the family is very solid, is a rich second generation born with a golden key. After failing the college entrance examination, Wei Jianjun worked for a period of time in the Beijing micro-motor factory, until his father gave him a Second-hand Rada made in the Soviet Union as a birthday gift, which made Wei Jianjun completely fall in love with the car.
Soon after, Wei Jianjun's father, Wei Deyi, gave up his Beijing hukou and returned to his hometown to set up the Taihang Equipment Factory, mainly engaged in the production of drainage equipment, which later developed into the Taihang Group. At the same time, his uncle also founded Great Wall Industry, mainly engaged in the car modification business, which is the predecessor of Great Wall Motors.
The change came in 1989, when his uncle died after a car accident, and great wall was later in trouble after handing over a report card with an annual loss of 2 million yuan due to poor management.
At this time, Wei Jianjun, who was only 26 years old, made an important decision, he chose to contract the Great Wall that his uncle had poured his heart and soul into, and took the remaining more than 60 employees to start a new journey. "At that time, we mainly did the modification of light passenger vans and produced campers, and the conditions were very difficult," Wei Jianjun recalled.
Miraculously, shortly after Wei Jianjun came to power, the Great Wall successfully achieved a turnaround. Many years later, when Wei Jianjun recalled this experience, he said, "I have always told myself that the Great Wall has no way out, no choice, and I have not, when an enterprise, a person has no more choices, the chance of doing a good job is greater." ”
For the five years from 1991, the Great Wall was in the stage of primitive capital accumulation and waiting for the opportunity to take off. It's just that perhaps Wei Jianjun couldn't imagine that the opportunity could come so quickly.
In the late 1990s, when cars were emerging in China, the market competition based on cars was particularly fierce, but Wei Jianjun decided at this time to start with pickup trucks. In contrast, there were not many pickup truck manufacturers in China at that time, and the price of imported pickup trucks was often as high as 200,000 or 300,000 yuan, which was a promising and not fiercely competitive market.
"What really made the Great Wall stand up was the decision to switch to pickup trucks. When I visited Europe, the United States and Southeast Asia, I found that the popularity of pickup trucks is very high, but because the main focus of large domestic companies is in cars, pickup trucks have become marginal models. So I think it's a market with a lot of potential, and pickup trucks of about 100,000 must be competitive," Wei said.
Facts have proved that Wei Jianjun's choice was correct. In 1996, the Great Wall launched a Deer Pickup truck with a price of less than 90,000 yuan and good comfort and power, which triggered a hot discussion in the market. Subsequently, the Great Wall gained the upper hand in the competition with Tiandi Automobile and became the leader in the domestic pickup truck industry. In 1997, the sales of Great Wall pickup trucks were only 1,700 units, and two years later, it reached 13,000 units, ranking first among similar products.
Wei Jianjun even believes that "the Great Wall has, to a certain extent, guided the demand for pickup trucks in the Chinese market." ”
<h1 class="pgc-h-arrow-right" data-track="87" >02, "the first bucket of gold" attracted heated discussion</h1>
<h1 class="pgc-h-arrow-right" data-track="88" > raised 8 million shares and became the richest man in China after listing</h1>
Wei Jianjun, who had a firm foothold, decided to get the real right to speak.
In 1998, Great Wall Industry was reorganized into Great Wall Motors, and the government of Nandayuan Township, the largest shareholder at the time, allocated 25% of the equity to Wei Jianjun and transferred its 21% stake again for 8 million yuan. So far, Wei Jianjun has successfully obtained 46% of the shares of Great Wall Motors, becoming the largest shareholder.
However, at that time, there were also doubts, believing that the source of Wei Jianjun's 8 million was unknown. I have to say that in that era when ten thousand yuan households were scarce, 8 million was undoubtedly an astronomical number that ordinary people could not dream of. But for this fund, Wei Jianjun's response is "self-financing", and it is not impossible for him to do this with his father as a patron.
Entering the 21st century, due to the restriction of pickup trucks in Beijing, Shanghai and other places with strong purchasing power, Wei Jianjun decided to transform to a more lucrative SUV. In 2000, Great Wall invested 300 million yuan to establish Great Wall North China, and 2 years later launched a Toyota-like Saifu SUV with a price of only more than 80,000 yuan, sold 40,000 vehicles a year and a half, and with Saiying, Saijun and other products, quickly occupied the domestic low-end market.
The crazy growth of the Great Wall can be seen from its performance.
In 2000, Great Wall Motor's net profit was 55 million yuan, and by 2002 it reached nearly 300 million yuan. Subsequently, Great Wall Motors landed on the Hong Kong Stock Exchange at the end of 200, becoming the first private automobile enterprise listed in Hong Kong. Even so, Wei Jianjun still felt slow, and in his opinion, he could be listed within half a year. As the biggest beneficiary, Wei Jianjun and his family became the richest car in China with a net worth of 3.5 billion.
In fact, shortly before the listing of Great Wall Motors, Wei Jianjun carried out a series of operations, first dividing the 10% equity of Great Wall Motors held by the union at that time into 9% and two 0.5%, and selling them to his father Wei Deyi, his mother Chen Yuzhi and his wife Han Xuejuan for 13.7 million yuan and 760,000 yuan respectively.
Subsequently, Wei Jianjun sent 10 shares for every 10 shares to all shareholders, including himself, and distributed 2.5 yuan in cash, and the biggest beneficiary was also the Wei Jianjun family. Among them, Wei Jianjun made a profit of nearly 20 million yuan, while his father made a profit of 3.8 million yuan. After the listing of the Great Wall, Wei Deyi's name appeared in the list of shareholders of Great Wall Motors, and he ranked second with a shareholding ratio of 6.5%, second only to his son Wei Jianjun, who held 33.23% of the shares.
In addition, Great Wall Motors, which has just launched an SUV, was once caught in a "plagiarism storm". After the Hong Kong stock market listing, Nissan Motor announced that the Great Wall's Saiying was copying Nissan's Palatine model and said it would take it to court. Although Wei Jianjun was very calm at the time and said that there was "absolutely no infringement", the incident still caused a lot of turmoil.
<h1 class="pgc-h-arrow-right" data-track="90" >03, the richest family in Hebei was born</h1>
<h1 class="pgc-h-arrow-right" data-track="89" > increased by 150 billion yuan a year, and the great wall's net profit hovered for a long time</h1>
After the listing, the Great Wall sits firmly on the throne of China's SUV market leader.
At that time, Wei Jianjun, who was full of confidence, said bluntly, "As the boss of the Chinese market, our economic SUV is not worse than foreign countries, and the price is lower, so we must take this opportunity to be the first in the global economy SUV." In fact, the car is very proud, the fierce competition will have a lot of fun, there is no competition and there is no pressure, the greater the pressure, the more it can stimulate motivation. ”
Of course, with the abundance of funds, Wei Jianjun has not considered a piece of the pie in the field of cars, but the sales of Great Wall Motors' first car, the Genie, are not ideal. At that time, in the face of ridicule inside and outside the industry, Wei Jianjun retorted, "In China, when many scholars and industry insiders predict an industry, they are basically not sure, but the emergence of a market is created by operators close to the market."
However, the folding of the car field does not affect the Great Wall's achievements in SUVs.
In 2011, an SUV called Haval H6 went on the market, allowing Wei Jianjun to regain face. This car not only became China's first SUV brand with millions of sales, won the title of national SUV, but also made the Great Wall full of money. In 2010, Great Wall's net profit was only 2.8 billion yuan, and by 2013 it had increased to 8.2 billion yuan, soaring nearly 200% in three years, and allowed Great Wall's SUV brand to win the throne of sales champion for eleven consecutive years.
Also in 2011, Great Wall Motors officially landed on the Shanghai Stock Exchange, becoming the second car company to return to A-shares from H shares after BYD. But the issue price of 13 yuan and the situation that broke at the opening made Wei Jianjun very annoyed, "Let me see, the stock should be sold for 30 yuan, how much red have we divided since the listing of Hong Kong stocks?" How much return will it bring to shareholders? ”
Today, with the rise of the concept of new energy vehicles, the stock price of the Great Wall has once again ushered in a crazy rise. According to Oriental Wealth Choice data, in mid-May this year, the stock price of Great Wall Motors was 30 yuan / share, and by mid-September, it had exceeded 60 yuan / share, and the stock price had doubled in four months, and the market value increased by nearly 300 billion yuan. Such an achievement is also twice as high as the 30 yuan that Wei Jianjun said that year.
According to the Forbes Global Real-time Rich List, Wei Jianjun, chairman of Great Wall Motors, and his family are currently worth $30 billion, about 195 billion yuan, ranking 55th on the list. In the 2020 Hurun Rich List released in October last year, Wei Jianjun was only worth 450 yuan, ranking third in Hebei. In less than a year, Wei Jianjun became the new richest man in Hebei with a skyrocketing 150 billion yuan.
Of course, this does not mean that Wei Jianjun sits back and relax, looking at the great wall's net profit in recent years, it can be found that its net profit has fallen sharply since its net profit exceeded 10 billion yuan in 2016, and handed over the 5 billion yuan answer sheet of "waist chopping" in 2017, and has been hovering near the 5 billion yuan mark for a long time. Not only that, but also since 2016, Great Wall Motors' revenue has also begun to stagnate at the 100 billion mark.
This means that the Great Wall urgently needs a new performance breakthrough point. New energy may be a good new opportunity, but whether Wei Jianjun can grasp it this time and take the Great Wall to a new level is still unknown.
(Author 丨Shijie Feng Chenchen Editor 丨Liao Ying)