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Guest businessman Wu Ting: The entrepreneurial spirit of Chinese Hui businessmen

author:Guest Business Studies

On December 20, the 2023 Huizhou Entrepreneurs Helping Anhui High-quality Development Conference and the Inaugural Meeting of the General Association of Huizhou Entrepreneurs were held in Hefei. Xu Lejiang, Deputy Director of the United Front Work Department of the CPC Central Committee and Secretary of the Party Leadership Group of the All-China Federation of Industry and Commerce, delivered a speech, Han Jun, Secretary of the Anhui Provincial Party Committee, and Wang Qingxian, Deputy Secretary of the Anhui Provincial Party Committee and Governor, presided over the meeting.

At the scene, the General Association of Huizhou Merchants was formally established. Wang Chuanfu, chairman of BYD, served as honorary president, Yang Yuanqing, chairman of Lenovo, served as chairman, Yin Tongyue, chairman of Chery, Liu Qingfeng, chairman of iFLYTEK, and Hong Qinghua, chairman of Jingyu, served as executive chairmen.

Guest: President Wu Ting, the founder of business science and the author of "The Art of War", was invited to attend the conference and gave a keynote speech on "The Entrepreneurial Spirit of Chinese Huizhou Merchants", and presided over the guest theme dialogue on the spirit of Huizhou businessmen in the new era. Tang Liangzhi, Chairman of the CPPCC Anhui Provincial Committee and Secretary of the Party Leadership Group, Ren Qinghua, Vice Governor of Anhui Province, and other leaders attended the meeting and listened. The following is the content of this speech, Enjoy~

I am very honored to be invited home, in the first 30 years of my life, I grew up in Anhui, and have been in the whole country and the world, for Anhui propaganda and endorsement. I have also brought some new Huizhou businessmen to my hometown, such as Linglong Tire, which was put into production with 5 billion yuan last year, Dai Kesi, which opened on the day of the World Manufacturing Conference in September, with 500 million yuan in manufacturing industry and an annual output value of 6 billion yuan, and our guest industrial park also introduced more entrepreneurs to become new Huizhou businessmen with a monthly tax of 3-500 million yuan.

The guest business school I founded is a leader in China's all-case teaching, with the vision of "visiting companies all over the world and recording the business of the times". In our view, we can see as far into the future as we see the history, and there is no world view without looking at the world. Therefore, in the dimension of history and the times, I have led more than 700 entrepreneurs to grow and learn Xi.

Do you know where the World Case Study Xi Center is? Harvard Business School. Over the past 100 years, Harvard Business School has created a huge case base, because the United States has long been the largest economy, the United States has a prosperous business, innovative technology and excellent business civilization, so the American business school has undoubtedly become the center of the world's business case and the spread of entrepreneurship.

In the future, China is destined to become the world's largest economy. On the way to the arrival of our second centenary dream, on the road of our reform and opening up for more than 40 years, in fact, China has given birth to a lot of business scenes, many interesting business stories, and a lot of good entrepreneurial spirit, so China will become the world's business case center in the future, so China also needs a business school with full case teaching like Guest Business, which is my mission.

It is my important duty to create heroes in the times and to explore and promote the entrepreneurial spirit of the new era.

In July 2023, Article 22 of Article 31 of the Opinions of the Central Committee of the Communist Party of China and the State Council on Promoting the Development and Growth of the Private Economy proposed that it is necessary to "cultivate and promote the entrepreneurial spirit". So what exactly is entrepreneurship?

Schumpeter, the "father of innovation," said that entrepreneurship is the attitude of constantly seeking innovation and seeking new possibilities, even if those new possibilities often bring risks. Entrepreneurship is a practice that includes the identification of opportunities, the efficient use of resources, and the organizational and leadership skills needed to achieve innovation, Peter Drucker said.

Today we are convening a conference to think about and discuss nothing more than that:

Why do we need to refine the spirit of Huishang?

What is the spirit of Huishang?

How to promote the spirit of Huizhou businessmen?

Only when we find the common spirit of Huizhou businessmen, we can not only meet offline physics once a year, can we truly understand and integrate with each other, we will have a sense of belonging anytime and anywhere, and we will "gather is a fire, scatter is full of stars".

Because of the need to do cases, I have been accompanying entrepreneurs for a long time, researching industry leaders and business leaders for a long time, and maintaining close communication with them. In terms of time, today I will take a sample of cases, see the big from the small, take the six Huizhou businessmen that everyone knows, and refine and summarize the typical entrepreneurial spirit of the three Huizhou businessmen based on the business class of our guests and my first-hand interview materials.

Keep hungry and thirsty, and be a hard-working top student

Guest businessman Wu Ting: The entrepreneurial spirit of Chinese Hui businessmen

First of all, everyone knows this person, Huawei Yu Chengdong, I define the spirit of Huizhou businessmen he represents as "keep hungry and thirsty, and be a diligent top student".

Recently, there is a very popular Internet phrase, called "far ahead", because Yu Dazui "bragged" again, he said, "Compared with the new forces and Tesla, we are far ahead." "Friends are copying Huawei, but they can only copy the surface, not the essence. "The M9 will redefine the best smart SUV under 10 million......

This photo was taken at the 2019 annual meeting of our guest business school, Yu Chengdong bragged on the spot, and it became popular all over the country, saying that the newly released Huawei mobile phone will catch up with Apple in China in an all-round way. Is bragging the label of the entrepreneurial spirit of Huizhou businessmen? Of course not, what is the entrepreneurial spirit and label of Huizhou businessmen? It is to realize the boasted bull. The terrible thing is that looking back on the past, the bull that Yu Chengdong bragged about at the beginning was really carved into his personal glorious war history. Our guests sent 2 visits and 3 interviews, and I observed his kingly spirit and scholarly characteristics up close.

Speaking of gossip, Yu Chengdong when he was a child, even if he fights, he must win, and the friends around him say that he has a ruthless spirit, and he is not afraid of blood. In China in the 80s, the only way to change your destiny and realize your dreams was to study. The classmates were immersed in hard study in the classroom, and Yu Chengdong was sweating like rain in the fields.

In the college entrance examination in 1987, he entered the automatic control department of Northwest University of Technology with the top score in the county, and after graduating two years as a graduate student, he stepped into Tsinghua University.

In 1993, Yu Chengdong joined Shenzhen Huawei. As a member of the technical team, he was deeply involved in the research and development of switch C&C08.

In 1998, the switch business situation was very good, but Yu Chengdong had a hunch that 3G was the future, and took the initiative to propose and create a wireless communication division, Ren Zhengfei invested more than 6 billion, and the product was made, but the license was not issued. Ren Zhengfei asked them, "When will you get 6 billion back for me?" made product director Yu Chengdong under great pressure, and he could only work with Xu Zhijun and was forced to turn to overseas markets to make money. The European market is like an impregnable wall, and Huawei is full of bags. When he was desperate, Yu Chengdong approached Telfort, a small Dutch operator, and said: "If you give me eight months, I will definitely develop what you want." By the deadline, Huawei really took out a "distributed base station" and signed an order of 25 million with the Netherlands.

In 2013, Huawei surpassed Ericsson to become the undisputed number one supplier of communications equipment.

In 2011, when Yu Chengdong was in full swing with Ericsson, he received an email from the personnel department, which read: "Go back to Shenzhen and take over Huawei's mobile phone business." ”

He returned to China to take over the terminal business, and when he came to power, he cut off the 30 million OEM machines he was making, shouting that he wanted to make Huawei's own smart phones. This was a shock to everyone.

In 2020, after "bragging" on the stage of the annual summit of guest business, Huawei's mobile phone really surpassed Samsung with a market share of 21.4% and successfully topped the industry's Mount Everest. Yu Chengdong really made "the bulls that he bragged about in the past basically come true." ”

In the midst of U.S. sanctions and the company's existential crisis, Yu Chengdong re-pondered: As a terminal with wheels, the automotive industry is surging, can Huawei take this opportunity to fight for another future?

Yu Chengdong's "being a top student" is a typical characteristic of Huizhou businessmen. In the minds of our Anhui people, learning Xi and growing up is placed in a particularly important position. Although some people may think that it is too one-sided, I think it is an extremely important and correct way of life and attitude.

Guest businessman Wu Ting: The entrepreneurial spirit of Chinese Hui businessmen

Liu Qingfeng, when he was still a Ph.D. student at USTC in 1999, led 18 students to found iFLYTEK. Since its inception, they have engaged in artificial intelligence, and their first industrialized achievement is also based on the model of Chinese speech recognition. In 2008, iFLYTEK was successfully listed, becoming the first listed company in China's voice industry, and also the first listed company to successfully ring the bell for college students' entrepreneurship.

In the field of artificial intelligence, iFLYTEK has always been at the forefront of technology, and in May this year, iFLYTEK officially released the Xinghuo cognitive model, which is the only large model that is completely independently developed under domestic computing power. Thanks to its outstanding achievements in the field of artificial intelligence, iFLYTEK has also been recognized as a member of the "Chinese National Team of Artificial Intelligence".

Under the leadership of Liu Qingfeng, iFLYTEK's operating performance has grown rapidly year after year, and its market value has been rising. When it went public in 2008, iFLYTEK's market value was only 3.2 billion yuan. In 2022, its market value was once close to 200 billion yuan, and now although it has fallen slightly, in just 15 years, iFLYTEK's market value has still increased by more than 43 times.

I have been to Xunfei many times, and a sentence on their wall impressed me: "The brightest torch is either the first to burn the prairie or the first to extinguish." ”

Hui businessmen, not only keep hungry and thirsty, always be diligent top students, but also have a strong industrial determination, is an innovative doer.

Maintain concentration and be an innovative doer

Guest businessman Wu Ting: The entrepreneurial spirit of Chinese Hui businessmen

Wang Chuanfu, the entrepreneurial spirit he represents, I think is "to maintain concentration, to be an innovative doer".

On August 2, 2023, the Fortune Global 500 list was released globally, and BYD ranked 212th, up 224 places from 2022, becoming the Chinese company with the largest increase in ranking this year.

From January to July 2023, BYD's new energy vehicle sales exceeded 1.5 million units, with cumulative sales exceeding 5 million units.

This photo is also a special moment. I have been studying the new energy vehicle industry for a long time, and I have also done a lot of industry research and cases, articles and videos, which is the most in-depth offline exchange with Wang Chuanfu. A month later, BYD held a press conference for a total of 5 million new energy vehicles off the assembly line.

At the off-line ceremony, BYD proposed that "together, it is a Chinese car", and proposed that "BYD should do a proof question, BYD can, new energy can, and Chinese cars can".

There was a video that exploded the circle of friends at the time, that is, everyone saw a science and engineering man like Wang Chuanfu tearing up at the press conference.

Why is he crying?

In my opinion, Wang Chuanfu is a person who is very determined to work, he has been working on batteries for more than 30 years, batteries in undergraduate science, batteries in graduate school, and batteries in his work. When he aimed at the direction of the car, when he acquired the first car brand, when he developed the first new energy vehicle, when he decided to give up fuel vehicles and all in new energy vehicles, the general trend of new energy was far from coming, and he almost collapsed in the long river of history several times.

Tears are his catharsis for the grievances he suffered behind his adherence to his strategic determination.

Wang Chuanfu famously said: "BYD has a fish pond, and there is a lot of technology in this fish pond, including blade batteries, engines, etc., when the market and customers need it, I will catch a fish from a pool and use it." ”

I think he's a bit modest, it's not just a fish pond. BYD has an investor that everyone knows, called Warren Buffett, Buffett has an important theory called the moat, I think, technology, is BYD's moat. It is precisely because of his hard work and innovation that he can be proud of the new energy rivers and lakes today, and has made great contributions to the industry in the energy revolution and China in the overtaking of corners.

Guest businessman Wu Ting: The entrepreneurial spirit of Chinese Hui businessmen

Chery is not like this? Located in Anhui Province, many people do not know that Chery has long been the originator and benchmark of China's automobile globalization.

In 2001, Chery's 10 "Fengyun" cars were exported to Syria, creating a precedent for China's mass export of cars. Since then, he has continued to set new export records for Chinese car brands.

When the shipyard was bought in 2007, Chery's annual export volume had exceeded 100,000 yuan.

In the first half of 2023, Chery exported 398,500 units, accounting for 17% of the country's total automobile exports and 53% of the total sales of the Chery Group. In other words, Chery's overseas market has surpassed that of its own market. This is undoubtedly a milestone in the history of Chinese automobiles.

Grinding technology and polishing products according to local conditions are the elements of Chery's success in going overseas.

The road conditions in South America are not good, with many mountain roads and slopes, so Chery has improved the power of the cars exported to South America to improve the acceleration performance and climbing function;

There are many deserts in the Middle East, and the sand particles floating in the air will accelerate the wear and tear of vehicle parts, so Chery has strengthened the sealing treatment for vehicles exported to the Middle East to prevent the sand particles from entering; Riyadh, the capital of Saudi Arabia, has a summer temperature of more than 50 degrees, and the mobile phone is automatically turned off, but Chery's employees are still testing the performance of the car's components under the sun.

In major overseas markets such as Brazil and Russia, Chery will develop according to local conditions, which is more intimate than local brands, and can naturally be recognized by users.

Eat hard. Without strategic determination and insistence on innovation, any enterprise would have gone home long ago.

Guest businessman Wu Ting: The entrepreneurial spirit of Chinese Hui businessmen

In 1886, German Carl Benz invented the world's first automobile, the Mercedes-Benz. In the same year, Daimler also built the world's first four-wheeled car.

The automobile industry in the true sense of the word began in 1913 when Henry Ford produced the Model T on an assembly line. The United States has become the world's automobile center, and the automobile industry is therefore the originator of management.

With the gradual maturity of the automobile industry, the industrial division of labor is becoming more and more refined. Whoever can manage the supply chain well will be able to reduce costs and focus more on the chassis, engine and transmission to improve quality. In this era, Toyota has become the global car company leader, precisely because it pioneered the Toyota production method. Under Toyota's leadership, Japan has become the world's automotive center in the 2.0 era.

At present, the changes of this era are subversive, because the key to the car is no longer the traditional three parts, but the power battery and the Internet of Vehicles, automatic driving and other intelligent vehicle technologies, which is the era of smart new energy. Therefore, after Germany, the United States, and Japan, with batteries and technology, China will inevitably be the center of the automotive 3.0 era.

Anhui has a vehicle industry base, industrial advantages such as intelligence and new energy, and the resources of the main enterprises in the automobile industry chain, and they are all returning to their hometowns.

Huizhou businessmen do industry, down-to-earth. Regardless of the outburst or scale, our Jianghuai Plain and mountains and rivers give birth to a tolerant and calm mind. Therefore, today, it is the era of the real economy, the era of "seeking up and down", and the era of Huizhou merchants.

Maintain character and be the leader of the times

Guest businessman Wu Ting: The entrepreneurial spirit of Chinese Hui businessmen

Hui merchants are humble and clumsy, but Hui merchants have always been synonymous with character and quality.

Typical representatives are industry leaders such as Fang Hongbo and Li Bin.

Last year, I had a three-hour conversation with Fang Hongbo, and I led more than 80 entrepreneurs on the spot, and everyone was listening immersively. I think the spirit of Huishang that he represents is "to maintain character and be the leader of the times".

Fang Hongbo and I are a native of Anqing, and in my eyes, he is a person who is "humble at the moment, responsible in his heart, and far-sighted in his eyes", and has the style of a Confucian businessman. He was an editor, a collector of art, skiing, in good shape, and restrained.

If we look at the history of global business, it is difficult to find such a story, Midea and Gree, two companies have gone around for decades, not only becoming duopoly enterprises in the same industry, but also cultivating top helmsmen within each of them at the same time.

Fang Hongbo and Dong Mingzhu have many similarities: they both resigned from the system in the early 90s of the last century and went to Guangdong alone; they both started from the grassroots level and turned the tide in the process of enterprise development; they both took over the scepter in 2012, and then sent their respective companies to the list of the world's top 500. Judging from the obvious personality traits, they are completely different, Dong Mingzhu is like a fire, fierce and blazing, and Fang Hongbo is like water, invisible on weekdays, but he can cut gold and stone in an instant.

During the two sessions of the National People's Congress in 2016, Dong Mingzhu, chairman of Gree, directly attacked on this special occasion, publicly accusing Midea of academic fraud, infringement and theft of trade secrets, and also distributed a dozens of pages of printed materials "What Midea has done over the years" as evidence for the on-site media.

Fortune magazine in 2017 reviewed the incident. In the face of Midea's 100,000 angry employees, Fang Hongbo issued an order, asking them to "spit on their faces", scold them and fight back. Mr. Fang said the reason for this was that he believed it would be worth mentioning in the long run, and that it would take time for China to build a mature commercial civilization.

What has Midea done? To be the leader of the times. In the impression of most consumers, Midea is still a white goods brand manufacturer, and we in the technology manufacturing industry know that over the years, Midea has been showing great leadership and innovation in the creation of management and operation, the mechanism of scientific and technological innovation, and the leadership of cutting-edge technology industry.

The world's three major rating agencies, Standard & Poor's, Moody's, and Fitch, have upgraded Midea's credit rating to "A". Midea has thus become the enterprise with the highest credit rating among domestic private manufacturing enterprises. You know, for the manufacturing industry, the only ones in the world who can get this evaluation may be Samsung and Siemens before. That's character.

The construction of Midea's R&D system has not stopped for a moment. They have set up a global R&D network of 35 research centers in 12 countries around the world, with more than 18,000 R&D personnel worldwide. That's leading.

Many years ago, at a Boao Forum, Liu Yonghao, chairman of New Hope Group, called Huawei and Midea "enterprises closer to greatness" in his speech. His reasoning is that they are not only large-scale, but also have strong innovation capabilities, and he is proud of China to have such enterprises.

In the past two years, the global chip shortage has spread to various industries such as home appliances and automobiles, and global home appliance giants have had to reduce production and compress orders, and some domestic home appliance companies have even completely run out of stock.

At this time, Midea took out its own chip. In 2021, they achieved mass production of 10 million pieces, and in 2022, the output is expected to reach 80 million pieces, which not only ensures their own use, but also supplies them to other home appliance companies.

The company that produces chips is called Shanghai Meiren Semiconductor, which was laid out by Midea in 2018 when the Sino-US trade war just started. At that time, they began to analyze which links in the supply chain may be at risk of stuck. When they laid out the chips, some people questioned whether Midea's core manufacturing was off. Finally, after three years of spare tires, he became famous.

Last year, when new energy vehicles were hot, Welling Auto Parts Co., Ltd., a subsidiary of Midea's electromechanical division, made a high-profile appearance and officially announced the mass production capacity of a large number of core components such as motor drive systems and thermal management systems, which made Midea enter the core area of new energy vehicles.

In February this year, Midea invested 11 billion yuan in Anqing City, Anhui Province to build a new energy auto parts base.

Guest businessman Wu Ting: The entrepreneurial spirit of Chinese Hui businessmen

Li Bin is also a leader of character. Weilai is the world's first Chinese car brand to sell at a high price, which is our pride, you know, in the early years of China's high-end car market, has always been the mainstream of foreign auto giants, and Li Bin is China's own car brand from quantitative change to qualitative change, from low-end to high-end milestone figure, Weilai is also the world's first "user enterprise".

The user service provided by NIO is a kind of no-man's land exploration of extreme innovation. When they first listed on the U.S. stock market, Li Bin took out a quarter of his personal holdings, that is, 50 million shares, and put them under a special trust fund. He himself retained the voting rights of this part of the stock, and gave the right to use the proceeds to the owners of NIO. These stocks are worth about $1 billion, but they are all a promise to advance and retreat with users' real money. Regarding NIO's user services, I have also summarized a user golden triangle model for them, that is: brand co-construction, user co-creation, and value sharing.

Guest businessman Wu Ting: The entrepreneurial spirit of Chinese Hui businessmen

In addition to the above Anhui entrepreneurs, there are more Hui business forces that cannot be ignored, such as in the field of consumer catering, there are Babi steamed buns that "contract Chinese's breakfast", three squirrels of "Internet snack first share", "tens of billions of income, nuts first, listed companies" Chacha Food, "China's new beverage power head brand" Yuanqi Forest, "Chinese fast food first brand" hometown chicken, "Chinese catering first scale" small vegetable garden, "ingredient beauty cutting-edge head brand" HBN, and "the country's first personal Douyin account, More than 100 million fans" Brother Xiao Yang and so on. All of them have achieved very outstanding results in their respective fields, and they also demonstrate the unique spirit of Huizhou businessmen.

In the visiting class, I asked Fang Hongbo what your lighthouse is, and he replied that there are two, one of which is "my hometown Anqing." When I don't know where the road lies ahead, I go back to where I grew up, stand by the river, and think about my original intention. ”

The entrepreneurs I mentioned today all contribute to giving back to their hometowns to varying degrees. Fang Hongbo put into operation 11 billion yuan in Anqing to build a new strategic base for new energy auto parts; Yu Chengdong brought Huawei's automobile industry to Anhui; Liu Qingfeng has always been an AI leader and rooted his headquarters in Hefei; Wang Chuanfu invested tens of billions of yuan in Anhui to build a park and build a new energy power battery and accessories project; Li Bin is even more open as a platform for Hefei, "I see everyone now, I have to tell him "you come to Hefei quickly"", BYD project settled in Hefei is said to be the result of Li Bin as a "investment ambassador"......

Therefore, in my opinion, the three major entrepreneurial spirits of Huizhou businessmen are: keep hungry and thirsty, be a diligent top student, maintain concentration, be an innovative doer, maintain character, and be the leader of the times. Of course, I also want to say that the last point, and the most important, is that Huizhou businessmen still have a grateful heart, after they grow up freely in their hometown, they know how to return to their hometown and share the value with their hometown, and this is the ultimate most moving quality of Huizhou businessmen.

We stand alone together,谢谢大家。

Guest businessman Wu Ting: The entrepreneurial spirit of Chinese Hui businessmen

Author | Wu Ting

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