Edit: Ziya Children's Fun Merchant will be a tip
He is the "best worker in history", and he has risen the company's market value from 50 billion to 700 billion by selling condiments. At the age of 56, he was worth 19.9 billion on the Forbes list, and at the age of 64, his worth skyrocketed to 195 billion.
His career has also reached its peak, he was supposed to retire successfully, but suddenly encountered the biggest Waterloo in his life, and the company's market value shrank by 500 billion overnight, what kind of difficulties did he encounter?
From an ordinary worker to a billionaire, how did he do it?
After graduation, he entered the factory and was promoted to management
In 1955, in order to conform to the trend of the times, 25 ancient sauce gardens in Foshan, Guangdong Province were merged into Foshan Zhujiang Soy Sauce Factory.
Thanks to the good foundation laid in the early stage, Zhujiang Soy Sauce Factory has been far ahead in the domestic seasoning market.
However, with the increasing number of people who carve up the cake and the invasion of foreign capital, the Pearl River Soy Sauce Factory has been affected to a certain extent.
Plant leaders have been looking for change, but with little success. But what they didn't expect was that Pang Kang, who was born in 1956, would be the "savior" of the factory.
Pang Kang is a native of Foshan, Guangdong, and his family background is very ordinary. In order to change his fate, he has worked very hard since elementary school Xi.
After the college entrance examination, he was successfully admitted to Nanjing Normal University majoring in food machinery. At that time, the identity of a college student was more pure than gold, so 26-year-old Pang Kang was assigned to work as a technician in the Pearl River Soy Sauce Factory as soon as he graduated.
Pang Kang, who first arrived at the factory, felt very confused, because he had eaten a lot of soy sauce, but he had never brewed it himself. Everyone in the factory was busy, making Pang Kang, who wanted to ask for teaching, unable to speak.
Later, in order to integrate into the team as soon as possible, he first spontaneously figured out the process of soy sauce brewing: picking beans, making koji, and brewing.
His performance made the leader very satisfied, and soon arranged a special person to teach him how to brew a good bottle of soy sauce from scratch.
When Pang Kang actually got started, he realized that everything was not as easy as he saw. But he did not back down because of this, but persevered to break through one difficulty after another.
Not long after entering the factory, Pang Kang's soy sauce brewing technology has improved rapidly. In 1988, the soy sauce factory was restructured, and Pang Kang, who had become the deputy director at that time, decided to take the opportunity to reform the factory's production process.
First of all, he did not hesitate to spend 30 million yuan to buy foreign advanced production lines, and then hired more than 100 technical talents to put into the production line with high salaries.
As a result, the plant saves manpower while improving efficiency, increasing throughput, and improving product quality.
Courage to change and rapid development
Of course, because of the product upgrade, the sales volume has also increased exponentially, and by 1990, Zhuhai Soy Sauce Factory became a national second-class enterprise under the leadership of Pang Kang.
Since then, Pang Kang has led the soy sauce factory to continue to reform and develop, and in 1994, in line with the policy of state-owned enterprise reform, the Pearl River Soy Sauce Factory was renamed Haitian Condiment Food Company.
In order to maintain the good development of the company and the stability of the company's personnel, Pang Kang divided the company's shares into 3 percent of the management and 7 percent of the employees.
At first, everyone was harmonious, but soon the company had a situation of chaotic management, open contention and secret fighting due to the share division system.
As a result, the company suddenly fell into a crisis, and in order to protect the company, Pang Kang had to make a decision to reclaim the shares. As soon as the news came out, Pang Kang was instantly pushed to the forefront.
In the past, everyone's praise for him was swept away, and they began to scold him for being a profiteer who crossed the river and demolished the bridge. However, Pang Kang was not defeated, but continued to implement his own decisions.
Since 1995, when the company proposed to recycle its shares, Haitian has embarked on a series of changes.
In order to increase sales, Pang Kang did not hesitate to spend a lot of money to put the advertisement of Haitian soy sauce on the CCTV stage in 1999. With the blessing of CCTV's halo, the Haitian brand has instantly entered thousands of households.
In 2000, after careful consideration by Pang Kang, Haitian became a Sino-foreign joint venture. With the blessing of foreign capital, Haitian has made a qualitative leap in both production and marketing.
In just one year of Sino-foreign joint venture, Haitian's total sales exceeded 1 billion yuan. It's unprecedented to be able to generate such income by selling seasonings.
As the reputation of the Haitian brand became more and more famous, the market gradually appeared to be in short supply. In order to solve this problem, Pang Kang once again exerted his "banknote ability" and purchased a fully automatic packaging production line in 2003. The line can pack around 24,000 bottles of seasoning per hour.
Two years later, Pang Kang invested 1 billion yuan again to build the world's largest condiment production base with an annual output of 1 million tons in Foshan - Haitian Gaoming.
In 2008, after decades of reform, Haitian finally became a private enterprise controlled by management.
Also in this year, Haitian has 800,000 square meters of large sunshine pools, and also introduced 10 automatic production lines from Germany. Haitian has now fully automated the seasoning production process.
In 2013, Haitian's total sales exceeded 10 billion yuan, becoming the first enterprise in the domestic condiment industry to exceed 10 billion yuan.
So how did Haitian do this? Of course, this is inseparable from Pang Kang's wise decision-making every time.
First of all, he dared to change, but he spent a lot of money to buy foreign advanced production lines in the early stage or later realized the centralization of power. Under his leadership, Haitian gradually transformed from a soy sauce factory to a well-known private enterprise.
Secondly, he is willing to spend money, and every time he spends it on the edge of the knife. The purchase of a fully automated production line has increased efficiency and output, and sales have also risen.
Spend a lot of money on advertising, so that the Haitian brand is deeply rooted in the hearts of the people. After a long period of "brainwashing", even if they see other brands of condiments in the supermarket, they will most likely choose Haitian in the end driven by curiosity.
On top of that, Haitian's sales channels are very broad. As early as 2003, Pang Kang set up a sales team of 1,000 people.
Not only has it achieved full coverage of cities and towns across the country, but even remote villages can see Haitian's figure. After the implementation of full coverage of the domestic market, Haitian gradually expanded to foreign markets.
The company is listed with a market value of 100 billion yuan
In this way, Haitian, as a leading brand in China's condiment industry, was successfully listed in 2014 with a market value of nearly 50 billion.
As the chairman of the company, Pang Kang also successfully entered the Forbes list with a value of 19.9 billion yuan, and 34 other executives in the company have become billionaires.
However, even if Haitian has been successfully listed, Pang Kang still does not dare to take it lightly. Because brands such as Lee Kum Kee, Qianhe, and Chubang, which were established around Haitian, are also growing rapidly at an irresistible speed.
Haitian focuses on the traditional soy sauce, while Lee Kum Kee has developed an umami-rich oyster sauce that has been sought after by consumers as soon as it was launched.
Qianhe has been focusing on 0 addition since its inception, but because the price is more expensive than other brands, it has not caused a splash.
But as people's lives are getting better and better, and everyone attaches great importance to physical health, Qianhe has become a new dark horse in the condiment industry.
The soy sauce that has been dried for 180 days has attracted the attention of many consumers.
Seeing that Haitian was about to be overtaken, Pang Kang immediately gathered talents and carried out research and development on oyster sauce, cooking wine, 0 added soy sauce, vinegar, etc.
Because of the fast response, Haitian not only maintained the first position in the industry, but also rose in market value.
In 2019, Haitian's market value exceeded 300 billion, and in April 2020, the market value went straight to 400 billion, and less than 5 months later, Haitian's market value approached 700 billion.
As soon as the news came out, it immediately caused a sensation in the business circle, because it is difficult for people to imagine that the market value of a company selling condiments can surpass that of state-owned enterprises such as PetroChina and Sinopec.
However, the curse of "the moon is the loss" was immediately fulfilled in Haitian, and after the outbreak of the new crown epidemic in 2019, Haitian was greatly impacted, and the market value of Haitian shrank by 300 billion directly after the end of the epidemic.
But Pang Kang maintained a calm attitude as always, and after continuous adjustments, the company was back on track. Although it is difficult to return to the original, the status of the industry leader is at least still there.
But in 2022, a consumer found that the ingredient list of a certain soy sauce of Haitian brand was significantly more food additives added in the domestic version than the foreign version.
After the exposure video was widely disseminated on short videos, Haitian fell into an unprecedented crisis of public opinion. Even if Haitian's public relations department made a timely clarification, consumers did not buy it at all.
In this way, Qianhe, who has always advocated zero addition, came to the stage, and other brands of condiments have also become the new favorites of consumers.
As of now, Haitian's market value is only about 200 billion yuan, and Pang Kang's worth has also fallen from the highest value of 195 billion yuan in 2020 to 80 billion yuan now.
But the social rules have always been like this, thirty years in the east of the river and thirty years in the west of the river. As long as Haitian makes products with heart, it is not impossible to return to the top.
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