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According to our ordinary people's thinking, real estate and finance should make money in real life, even if real estate is cold now, but the Internet industry is still very prosperous.
But few people know that in fact, China's manufacturing industry is really strong, even in Hong Kong, where every inch of land is expensive, and there are still manufacturing bigwigs who rely on the real industry to achieve an annual income of 99 billion.
This big guy is more low-key, but the achievements he has made should not be underestimated, and he has successfully created his own business empire by manufacturing electric drills. So, who is this mysterious boss? How could he break through in Hong Kong with a real industry?
The beginning of the legend
Hong Kong was first developed as a concession in the early years in the 50s of the last century. Hong Kong has an influx of labor, which has also ushered in new opportunities for Hong Kong's manufacturing industry.
The larger the population, the cheaper the labor, so many developed countries choose to set up factories in Hong Kong, and gradually Hong Kong's manufacturing industry has become the pillar of Hong Kong's economy.
Zhong Zhiping has also experienced the golden age of Hong Kong's manufacturing industry, it is precisely because of the development of Hong Kong's manufacturing industry that the young Zhong Zhiping can enter the factory to work, but Zhong Zhiping is not a person who is satisfied with the status quo, he wants to seek a breakthrough for himself.
With hard work and diligence, he rose through the ranks, and during this time he met a man who was important to him, named Horst · Julius · Pudwell.
Pudwell is a German who has worked for Volkswagen Germany before, he is an engineer and, like many German workers, is rigorous and conscientious enough.
After Zhong Zhiping and Pudwell met, they found that they had many of the same ideas, and both of them were employees working on the front line, and they were particularly sensitive to changes in the industry.
Later, the two also started a company, but mainly as a middleman, which would buy products from the mainland and Hong Kong, and then they would sell them to European United States companies, and gradually the business became bigger and bigger.
But soon they realized the problem, because the products they purchased are from different factories, so they can't guarantee the quality, and it is difficult to do unified after-sales service, so it looks good in the short term, and in the long run, it will definitely affect the company's reputation and is not conducive to the overall development.
At the same time, they are also aware of some changes within the industry, once cheap labor, is an opportunity for Hong Kong's manufacturing industry to rise rapidly, but with the rapid rise of Hong Kong's economy, labor costs continue to rise, Hong Kong's manufacturing industry has a labor advantage will also be exhausted.
In this situation, Hong Kong's financial and real estate industries are rising, and more and more talents are pouring into these two industries, and Hong Kong's manufacturing industry is facing a more severe situation.
But Zhong Zhiping and Pudwell did not choose to go with the flow, realizing that the crisis may be a turning point and that the manufacturing industry can continue to grow.
But if they want to better grasp the market, they can't just do trade as before, but have their own factories, so that the quality of the products produced can be controlled by them, and they can fundamentally enhance the competitiveness of their products and get greater opportunities.
So, they built their first factory and began to produce electric drills for some European and American brands.
The road to independent brands
Zhong Zhiping attached great importance to technology when he first built the factory, in order to introduce advanced technology. It also accepted a stake in a Japan brand.
It is with the blessing of this technology that the products produced by Zhong Zhiping's TechNiche are guaranteed, and those European and United States countries have more trust in Ct&T.
But Zhong Zhiping is an ambitious person, he is not only satisfied with other brands to do OEM, he wants to create China's own national brand, only in this way, the industry can occupy a place in the future market competition.
But no matter what the industry, it is not so easy to build a new brand, especially in the manufacturing industry.
Because China did not have any famous brands in the world at that time, the international market was occupied by some European and American brands, and it was very difficult for an emerging brand to gain a foothold in this market.
More importantly, China's overall industrial development at that time was relatively backward, and although Hong Kong was relatively developed, those foreign companies that came to Hong Kong to build factories did not send core technology to Hong Kong.
The power tool industry that Zhong Zhiping wants to engage in has relatively high technical requirements, and other countries have gone ahead for decades, and it is not easy for Chuangke Industry to catch up.
In addition, some other old brands already have their own mature sales networks and relationship networks, and if a new brand wants to break in, it is to share their cake, and it will definitely be suppressed by those old brands.
But even if the road ahead is difficult, Zhong Zhiping did not choose to give up, he firmly believes that only excellent quality in the manufacturing industry will be strong enough.
As a result, TTI began its own acquisition path, from a United Kingdom vacuum cleaner brand to a United States power tool brand, TTI has improved its product line and mastered more advanced technologies through acquisitions one after another.
However, brand acquisition is only the beginning, and doing a good job in brand integration to avoid homogenization and better play the brand benefits is the real problem that Zhong Zhiping wants to solve.
In order to better leverage the effect of these acquired brands, TTI has begun to carry out targeted and differentiated positioning of its products, and has formed a more complete product line for consumers with different needs.
But this is not the end, the manufacturing industry talks about technology, and technology needs to change year by year, only continuous innovation, the core competitiveness of enterprises will be strong, so the innovation and technology industry attaches great importance to the research and development of new products.
In order to better develop the enterprise, Zhong Zhiping pays special attention to the cultivation of talents, and has cooperated with many universities and scientific research institutions.
After the breakthrough in lithium-ion battery technology, TTI was the first to apply this technology to power tools, and later in order to further innovate power tools, TTI even incorporated machine learning technology, bringing about a technological revolution that makes power tools more convenient and durable.
Later, the name of TTI became more and more famous in the international market, and this road of independent brand was truly successful.
2nd in the world
Power tools are actually very close to the lives of ordinary people, whether it is home maintenance or industrial production, these tools are always indispensable.
The power tools produced by TTI today now occupy a large share of the global market and are competitive enough, which is also related to the original strategic pattern of TTI.
Although many people refer to Zhong Zhiping as the "king of electric drills", this does not mean that TTI will only produce electric drills, but the electric drill is a product produced by TTI when it first made its fortune, and some people later used this name to refer to Zhong Zhiping.
Now there are hundreds of power tools produced by Maker Industry, and electric drills are just one of them.
Today's TTI industry actually mainly relies on power tools and floor care cleaning to generate revenue, among which power tools have a stronger ability to generate revenue, contributing more than 80% of the total marketing revenue.
In 2023, the total revenue of Techtronomic Industry will exceed US$13.7 billion, second only to Stanley Badger Group in United States, and the second in the world.
TTI has been able to achieve such results thanks to the unique vision and acumen of the founders, and it is under their leadership that TTI has developed into such a strong state.
However, Zhong Zhiping, as one of the founders, did not stay in his original position, but left more opportunities to the next generation.
Today, Chung has retired to the background and is more focused on serving the society, and has also served as the chairman of the Federation of Hong Kong Industries, and is particularly concerned about the cultivation of high-level talents, because Chung Zhiping himself attaches great importance to education.
Zhong Zhiping went to work in an electronics factory without graduating from middle school in his early years, which has always been Zhong Zhiping's regret, and later after the success of the company, he also attaches great importance to learning, no matter how busy he usually reads and reads, and even has obtained a lot of doctorates.
For Zhong Zhiping, the degrees he obtained by reading books and writing papers were actually to fulfill his dream when he was young.
Nowadays, even though Zhong Zhiping no longer works in the company, he still cares about the development of the real industry, and when he sees that more and more people are starting to play finance, he also reminds everyone to remember that Hong Kong still has industry, and there is still the real industry as a support.
Zhong Zhiping called on everyone to support the real industry, even if they play stocks, they can also buy more stocks related to the real industry, which is actually a disguised support for the real industry.
epilogue
Zhong Zhiping has been able to lead the development and growth of TTI Industry step by step under the overall environment of Hong Kong's manufacturing industry, and has become the world's second largest power tool company, with a market value of more than 200 billion yuan, which is an amazing achievement.
But compared with his unique vision, Zhong Zhiping is more admirable that he has always adhered to his original intention, and has not easily changed his path because of market fluctuations, and he insists on down-to-earth production and manufacturing in the real industry, which is the most admirable.
Resources:
"From Macau to Hong Kong, black hair becomes white hair, how did Zhong Zhiping become the "king of electric drills"? 》
"Selling electric drill lawn mowers, the two bosses of China and Germany earn 90 billion a year"
"Hong Kong Manufacturing Giants: Hardware Tools to the World's No. 2, Annual Revenue of Over $99 Billion"
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