Cao Dewang is a famous "automotive glass king" in the mainland, but in the glass market, in addition to Cao Dewang, there is also a legendary "glass queen" in the mainland, she is Zhou Qunfei.
The reason why she is a legendary figure is because she was born poor, but in less than 40 years, she achieved a reversal of identity, once surpassing Yang Huiyan and becoming the richest woman in Chinese mainland.
1. Dazzling stars
In 2015, before the listing of Lens Technology, Zhou Qunfei held 99.09% of the company's shares. For professionals, the deep meaning can be seen at a glance.
The development of any company is inseparable from the support of funds, and the source of funds is mainly three ways, the first is capital market financing, mainly refers to the IPO of listed companies and stock issuance and pre-listing financing. The second way is debt, which is reflected in the company's asset-liability ratio, and the third channel is the company's self-hematopoiesis.
As soon as Lens Technology was listed, it quickly became a 100 billion unicorn, which is enough to see the success of its development. Zhou Qunfei's stock holdings of up to 99.09% also show that the company's development momentum is rapid, relying on the company's self-hematopoietic and small-scale debt, it can meet the company's development needs.
Even after the company went public, Zhou Qunfei still owned more than 80% of the company's equity and was the absolute controller of the company. At present, the stock price of Lens Technology is 20.31 yuan / share, with a total market value of 101 billion, which is one of the few listed companies in the A-share market with a market value of more than 100 billion.
Founded by Zhou Qunfei in July 2003, the company's glass products are mainly used in mobile phones, computers, smart homes and other electronic consumer products, and is the upstream supplier of well-known mobile phone brands such as Apple, Huawei, Samsung, OPPO, Vivo and so on.
In 2014, in the global market share of mobile phone glass, Lens Technology became the world's largest supplier of mobile phone glass with a market share of more than 50%. In the same year, the company's revenue reached 14 billion, with more than 80,000 employees.
However, in recent years, the company's development has encountered obstacles, and the stock price is also in a state of sharp fluctuations. Although Lens Technology still maintains its position as the industry leader, investors' expectations of the company have dropped significantly.
Second, the development dilemma
"Apple dependence" is widely used by the outside world to describe the business ills of Lens Technology, 2012-2017, lens Technology's most important downstream customers are Apple, in the company's sales structure, Apple's proportion remained above 40%, in 2012 even once exceeded 60%, the company's main revenue customers, Apple's proportion has been the largest.
Apple's expected revenue for the fourth quarter of 2018 was cut by $9 billion, gross margin was cut by 38%, and Samsung Group, the second largest customer of Lens Technology, also cut operating profit by 38.1%. The two largest customers suffered setbacks in their operations, and the gross and net profit margins of Lens Technology also produced different downward adjustments.
The speed of financing is also the most criticized point of Lens Technology, since the initial IPO raised 1.506 billion yuan in 2015, in 2016 and 2017, the company raised 3.112 billion yuan and 4.756 billion yuan through fixed increase and convertible bonds, respectively.
According to the company's fundraising direction, the raised funds will be invested in "sapphire production and intelligent terminal applications" and "3D curved glass production", and it is widely believed that the company's fundraising plan is tailored to Apple's products, which further triggers shareholder criticism of the company's excessive dependence on Apple.
The global smartphone market is nearly saturated, with rapid growth reaching a ceiling in 2017 with 1.566 billion global smartphone shipments, and has since fallen into a continuous decline.
As the world's largest supplier of mobile phone glass, Lens Technology has been the most direct impact, with a total of 9.517 billion yuan of total funds raised in 3 years in hand, and how to use it has become a problem for the company.
Affected by the decline in the terminal market, the capital market reacted to the stock price of Lens Technology for the first time, from the high of 22.08 yuan in 2017 to the low of 5.2 yuan in 2019, a drop of a staggering 76.4%. However, in any case, Lens Technology still has a huge market influence, and Zhou Qunfei's status as the "glass queen" has not wavered.
Iii. The Queen of Glass
Zhou Qunfei was born in 1970 in a small mountain village in Xiangxiang City, Hunan Province, to a poor family. The father was blinded in both eyes and lost two fingers in an explosion accident, and the mother left the family because she could not bear the heavy burden of the family.
Zhou Qunfei's brothers and sisters began to work when she was very young, leaving only her and her disabled father in the family, and she had to bear the burden of the family from an early age.
In the second year of junior high school, her uncle brought her to Shenzhen to work in a watch and glass factory. Zhou Qunfei knows the truth that knowledge changes fate, going to work during the day and going to night school at night, not only that, she also taught her driver's license and accounting knowledge, and slowly mastered the screen printing technology.
Later, the factory was abandoned in the process of an expansion, and the boss was reluctant to continue to fund the construction. Zhou Qunfei persuaded the boss to continue the expansion and personally took over the management of the factory, and achieved great success in a short period of time with screen printing technology.
The factory owner also gradually fell in love with Zhou Qunfei, and the relationship between the two gradually warmed up, and finally got married. However, after the marriage, due to the private nature of the factory, the boss's relatives filled a large number of important positions and began to exclude Zhou Qunfei. In the end, Zhou Qunfei, who was unbearable, not only resigned and left the factory, but also divorced his boss. And with his sister, brother-in-law, brother-in-law, sister-in-law and other people in 1993 invested 20,000 yuan to start a business.
With the slow expansion of the career, Lens Technology was also officially born, in 2015, Zhou Qunfei with a net worth of 50 billion yuan, was selected by the Hurun female rich list as the Chinese mainland new female richest woman. Zhou Qunfei, who has a successful career, did not choose to find another business strongman with the same identity to start a family, but entered the palace of marriage with his driver in 2008. Perhaps for her, plain love is the most important.
summary
From a rural girl working in Shenzhen to the success of her later entrepreneurship, Zhou Qunfei earned 50 billion yuan in more than 20 years, becoming the richest woman in China in 2015. The failure of her first marriage had a great impact on her, which may be an important reason why she chose to marry an ordinary person in her second marriage.
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