Zhong Xincai: Foshan Lighting Growth

The hot market and the rapid pursuit of wealth have aroused some enthusiasm at the Foshan Lighting Shareholders' Meeting held yesterday. Zhong Xincai, the chairman of the helm company, faced the shareholders’ praise or bombardment of the company’s unfamiliar idea, and did not hesitate to be honest. He said that Foshan Lighting should be a "hundred-year-old shop", and the old brand should continue to develop for a long time. In the face of shareholders' doubts about the company's development stagnation, he sincerely reviewed himself, saying that the 63-year-old who wants to stay in the company is to restore the company's image; he is willing to stay in the company because he sees the development prospects of the company. . At the meeting, he alone took the entire shareholder's inquiry time and conveyed his confidence in the company's development.

Responsible for the increase in sales volume

In 2006, the main business income of Foshan Lighting increased by 1.4% compared with the previous year. The total profit and net profit increased by 7.6% and 8.15% respectively. In this regard, Zhong Xincai said frankly that this is equal to no growth. Despite the many factors such as equity transfer and unsatisfactory people, the first is his own responsibility. He wants to review it.

However, Zhong Xincai is obviously more willing to guide shareholders to look forward. In answering the shareholder's motivation about the company's growth, he has counted the company's advantages. First of all, the impact of RMB appreciation on export-oriented companies has more harm than good, but for Foshan Lighting, the advantages outweigh the disadvantages. He said that because the export of small companies is more and more difficult, and Foshan Lighting is in a clear advantage in international competition due to the quality of the brand, the company will take this opportunity to accelerate product exports. Last year, the company's exports increased by 20%, and this year will maintain this level. Secondly, with the standardization of unfair market competition behavior in China, other small enterprises are subject to more restrictions, and Foshan Lighting will eventually win with its own large-scale operation advantages and a good foundation in the domestic market. In addition, the company itself has sufficient funds and low costs, and the company's development prospects are expected.

Zhong said that after the adjustment of the previous two years, he took practical measures in the first year of this year. First, to ensure the development of enterprises, sales must be increased. For this reason, the company has signed the responsibility form at all levels. Whoever can not complete the task will step down. Now the company is full of crisis awareness; on the other hand, it is energy-saving and reducing costs. He said that sales in the first quarter of this year have increased, and so far it has increased by 12%.

Zhong Xincai’s words resonated on the shareholder floor. One shareholder said that after the adjustments in 2005 and 2006, it was felt that Foshan’s lighting growth was recovering, and the investment income was icing on the cake. The company’s growth this year can be expected.

Continue to do "100 years old"

The idea that Zhong Xincai is not familiar with it has successfully circumvented the risks of real estate investment and entrusted wealth management in previous years, but at the same time, the capital operation of other companies has also made shareholders feel hot, and there are shareholders at the shareholders meeting. Directly pointing to Foshan lighting is too conservative, I hope that Foshan Lighting, with its strong financial strength, through mergers and acquisitions and other actions, to expand the pace of growth in the main business. Other shareholders are eager to enjoy the personal character of Zhong Xincai and Foshan Lighting's leading financial situation in China. We hope that the company will seize a good period of rapid development in China and find a better development direction based on the company's financial resources. A private equity fund that claims to have held a good four-year harvest of Foshan Lighting's stock has praised Zhong's steady business ideas. He said that the current domestic capital market is so popular that everyone is keen on mergers and acquisitions, but the merger itself is the coexistence of income and risk.

In the face of the shareholders' speech, Zhong Xincai admitted that his personal character led to the company's relatively conservative business. He smiled that Foshan Lighting has not had any big money to come into speculation, because the funds say that he does not cooperate, there is no subject matter. He said that the competition in the domestic electric light source market is extremely fierce. In the past, some mergers and acquisitions were also envisaged, but the company has a premise that it should not cause losses to investors.

Zhong said that his philosophy is that Foshan Lighting should be a hundred-year-old brand. The century-old brand is not a year or two of development and scenery. It is not a year of rapid growth, and the old brand is always in the foreground. However, he also said that the company is also looking for good projects around energy-saving products to speed up the company's development.

At the shareholders meeting, Zhong also answered questions from shareholders about the issue of equity incentives. It is said that as early as 2002, in order to retain talents, Foshan Lighting implemented the equity incentive fund approach. Zhong Xincai said that in the past few years, funds have been drawn up, and nearly 200 managers and technical backbones have been motivated to purchase Foshan Lighting stocks in a unified manner and locked up for two years. From the perspective of the effects in recent years, the incentive mechanism has indeed played a significant role. He said that there are new ideas for the incentive mechanism in the next step. The overall purpose is to further mobilize the enthusiasm of the talents that are useful to the company and let them develop together with the company.


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