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From a migrant girl who dropped out of school to the richest woman in Chaoshan Province
In 1988, a migrant girl who dropped out of junior high school and worked as a farmer at home for many years chose to go to Shenzhen. She came to Xixiang, Bao'an District, Shenzhen, and entered a factory called "Marine Precision Computer Connector Factory".
Her name is Wang Laichun, a Chaoshan Chenghai native, 21-year-old, like countless migrant girls who have gone south, spending their most youthful years on the busy assembly line.
At that time, the factory was in a harsh environment and in harsh conditions. In the makeshift dormitory, there is a row of large bunks, no water heater, no shower room, and the only way to take a shower is to go to the next cabin. The food in the canteen has no oil and water, coupled with the high labor intensity on the production line, it is often tired to the point of weakness and hunger to the point of being dazzled. In order to rush the construction period, overtime and all-night work are common things, sometimes leaving work at two or three o'clock in the morning, and appearing on the production line on time at 8 o'clock.
Even if people in that era could endure hardships, such a working environment also made many people choose to "carry buckets and run". Most of those who persisted in it also left after their youth was exhausted, which is the fate of countless migrant girls.
But Wang Laichun broke this fate, she is an atypical representative of the working sisters.
She worked in the factory for 11 years, until the factory was renamed "Foxconn" and reached the highest position that a mainland employee could reach- senior section chief.
In 1999, 32-year-old Wang Laichun decided to leave Foxconn and, together with his brother, took out all his savings and founded "Luxun" company.
The story behind it is very inspirational.
In just 10 years, Wang Laichun made a listed company, which is now the famous "Luxun Precision", with a value of up to 2.3 billion.
This kind of wealth-making speed, it is not too much to describe her as a "business wizard", right?
Regarding the origin of Wang Laichun, one of the most widely circulated sayings on the market is the help of Gou Taiming. As Gou's former "love general", Wang Laichun went out to start a business and received full support from the former boss. Luxun can survive in the early stage, relying on Foxconn's orders, for a long time, Luxun Precision is the foundry factory of Foxconn, the king of foundry, and about 50% of the business is from Foxconn.
We can understand that Wang Laichun contracted several workshops at Foxconn and went out to do it alone.
However, after 10 years of entrepreneurship, that is, after going public, Wang Laichun began to truly "fly alone".
In the first two quarters of 2010, the proportion of Foxconn's business decreased from about 50% to less than 20%.
That reduces the orders of Foxconn, a large customer, from where to make up?
Of course, Foxconn's big customer Apple. After ten years of being a "second-hand foundry", Wang Chunlai tried everything to become a "first-hand".
In the past 10 years, Wang Laichun has changed from a manager on the production line in the past to a master of capital operation. She gradually pried open apple's door by acquiring various businesses.
In 2010, Luxshare Precision acquired part of the equity of Boshuo Technology and obtained the certification of high-voltage AC connectors. Entered the supply chain of Sony and Microsoft.
Subsequently, Luxshare Precision acquired Liantao Electronics and became a supplier of Apple's connecting wire. In 2014, Luxshare Precision developed its own wireless charging business and became a supplier of Apple Watches. In 2017, it obtained the OEM qualification of Apple's wireless headphone AirPods, and is now the world's largest foundry of AirPods. In 2018, it became a supplier of Apple computers, tablets and mobile phones by acquiring the shares of several companies in the field of acoustics.
This "apprentice" of Foxconn officially began to compete with the "master" for territory.
Luxun female workers, Wang Laichun, Cook
2、
Gamble on tens of billions of cars
To create another legend
Another decade has passed, Wang Laichun and her Luxun Precision have been soaring, and in 2021, she ranked 57th in China's rich list with a wealth of 60.7 billion yuan. More than 30 years ago, the migrant girl who dropped out of school became the richest woman in Chaoshan Province.
For years, people have relished the story of her counterattack, but Wang Laichun's legend is far more than that.
Wang Laichun's compatriot Li Ka-shing said: No business can flourish forever.
Wang Laichun's Lixun, after many years of triumphant progress, also encountered crises and variables.
In 2021, a company called OFILM, which is also a "fruit chain", was excluded from the "fruit chain" because it failed to meet Apple's strict standards, which directly led to the company's market value shrinking by two-thirds. Its 2021 results preview shows that it expects a net loss of 1.9 billion to 2.7 billion yuan for the full year.
Such a bloody lesson made Wang Lichun dare not change.
Over the years, although it has got rid of the "Foxconn foundry", Wang Laichun's Luxun is also heavily dependent on Apple, a big customer. From the data point of view, among the top 5 customers of Luxshare Precision, Apple, the largest customer, accounted for 69% of the marketing volume.
Luxun and Apple are deeply bound, one prosperity and one loss. Once Apple's performance declines, Luxun will also fall in response.
After 2020, with the introduction of other brands of wireless headphones, the market for Apple wireless headphones has been eaten. As the world's largest foundry, Luxun Precision has naturally been affected, and the growth rate of net profit has slowed down significantly.
There is also OFILM's "lessons from the past", warning that it may face the "disaster of extinction" that may be replaced.
According to industry insiders, Apple is the "most ruthless", they never talk to you about friendship, only about interests, about quality, about cost and efficiency, and thorough survival of the fittest.
In such a "life and death juncture", Wang Chunlai chose "high gambling".
She took out 13.5 billion yuan to enter the car industry.
On February 11, 2022, Luxshare Precision announced that it will set up a joint venture with Chery New Energy for 13.5 billion yuan. Wang Laichun's goal is not to create a complete new energy vehicle. After all, if you build a whole vehicle, 13.5 billion yuan is simply not enough.
In the words of Wang Laichun: Luxshare Precision does not build complete vehicles, but cooperates with Chery New Energy to develop the ODM business (original design manufacturer) that builds good cars for others, and aims to seize the opportunity window to enter the world's leading first-tier supplier.
For Wang Laichun and Lixun, this will be another difficult entrepreneurship. Standards in the automotive industry are more stringent than in the consumer electronics industry. You know, there are no Chinese companies in the four major manufacturers of first-tier suppliers in the global automotive industry, and there are only 8 Chinese companies in the top 100 first-tier suppliers in all industries in the world.
The investment of 13.5 billion yuan is not a small amount for Luxshare, and once it enters the automotive industry, it is likely that this money is only an admission ticket.
But entrepreneurship is like this, and if it is not successful, it will become a person.
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The epitome of Made in China
Wang Laichun's car-making gamble and her proactive positive changes are also the epitome of current Chinese manufacturing.
For decades, Chinese manufacturing has become the "world's factory" by integrating foundry into the global industrial system, creating unprecedented economic growth.
But in such an industrial system, our foundries can only earn a small profit.
Take those domestic companies that are trying their best to squeeze into the "fruit chain", taking foxconn, the boss between them, as an example, to help Apple assemble a mobile phone, and the profit is up to 9.5 US dollars, that is, more than 60 yuan. And this mobile phone is sold to China, at least 5,000 yuan to start.
However, although the profit is small, the good thing is that the amount is large. We have the most "cheap labor" in the world, and if others eat meat, at least we can get a piece of the pie.
But now, the time is changing, this demographic dividend is gradually fading, southeast Asian foundries are rising strongly, which is not like a wolf, has long been coveted for this business.
In such a situation, even if you redouble your efforts, it is impossible to maintain the status quo.
China is a big country, we can't rely only on real estate to support the economy, only rely on the Internet to support the future. Any big country is also a manufacturing power. When our manufacturing industry is facing a huge crisis, what we need most is more entrepreneurs like Wang Laichun who dare to change and dare to take risks.
We need to use more stringent standards to demand ourselves, need to create higher value-added products, from the past "small profits, high sales" foundry model, to "master the core technology" of the high-end manufacturing model to move forward.
I hope that in the next decade, Wang Laichun and her Lixun can create another legend.