When the closely-watched Zhejiang economic semi-annual report was published, the Morning Post reporter conducted a survey on the state of economic development in Zhejiang and published an investigation report entitled "Recovering valuable parts and relying on transformation." This has aroused widespread concern among readers.

In the critical period of China’s economic upswing, people are also focusing on whether the current economy has “bottomed”, whether signs of recovery have emerged, and how the future economic trend will be. What experience has the financial crisis brought to us? And lessons? From government officials to experts and scholars have expressed their opinions.

At the same time, Wanxiang Group’s semi-annual report on its operation was also announced. Under the severe impact of the financial crisis, Wanxiang Group's revenue for the first half of the year increased by 3% year-on-year, and profit increased by 66%. What is in this report card? It reflects what kind of trend of the Zhejiang economy? Not long ago, we came to Wanxiang Group and asked Chairman of the Board Lu Guanqiu to talk about the actual operation of the company.

Q: Is the current economy in Zhejiang "bottomed"? Can you say that "recovery" has begun?

Lu Guanqiu: "Covering the bottom" has expired, and "recovery" will take time.

"For Wanxiang, the most difficult period has passed!" Lu Guanqiu admits that this financial crisis was the most dangerous shock he encountered in the 40 years since he set up the factory. In particular, since October last year, products have always been in short supply, and they often have to work overtime. There has been only three or four days a week. Even if it is like the solar energy industry, the price of polysilicon has dropped from 400 US dollars to 60-70 US dollars. "Now it's time. We started to work overtime again. Solar energy also has a profit in July." Lu Guanqiu said with joy.

"To say the recovery, from the perspective of universality, there will be a period of time!" Lu Guanqiu, who likes to speak with data, got up and brought up the latest report in July, pointing us to see, "Compared with the same period last year, the export of auto parts." It still fell 51.4% and solar energy dropped 73%."

The fiery scene of the workshop made Wanxiang people invigorated. Lu Guanqiu, who can serve as the chief, is still awake. He believes that companies like Wanxiang, although already involved in 10 industries, are a considerable part of exports. As long as the status of export dependence has not yet completely changed, the prospects for the international market are not yet clear and the variables are many. It is still too early to talk about recovery.

Lu Guanqiu introduced that, as China's largest automotive parts and accessories company, the sales of Wanxiang have improved, mainly relying on government policy's “leveraging”. This is a “blood transfusion” function, although the role of pulling is obvious. It is also temporary. The real recovery still depends on the market's "blood making," which will take at least a year or two.

"Of course, you can't wait passively." Lu Guanqiu said, "Opportunity is always for those who are prepared to go." Wan Xiang has been meticulously studying the world's "car development map". They found that the German public is environmentally friendly and energy-saving. With development prospects, they immediately tracked and climbed the pro. In the financial crisis, when the U.S. GM, Chrysler and other giants fell down, the German public appeared to be outshone. “In the beginning, our parts were actually supplied to the 'VW'. In fact, we focused our attention on it and, in accordance with its requirements, constantly adjusted the structure and improved the technological and environmental protection content. When technology, environmental protection, etc. do not adapt to or close down or reduce production, there is preparation for the universal to win the opportunity. Now North and South 'Volkswagen' wheel unit, mainly by our support!" Lu Guanqi said proudly.

Second question: Why are so many private funds flowing from industry to the stock market and property market?

Lu Guanqiu: Industrial investment in the future is a kind of green investment, environmental protection investment, and low-carbon investment. It will inevitably experience "painful period" and "lost period"; if the company wants to develop, it must correctly handle the relationship between industry and finance.

From the review of this newspaper, at present, private capital in Zhejiang is still relatively abundant, but many business owners are unwilling to guard the hard-earned business again, have turned their funds to stocks or real estate development, and even keen on luxury goods consumption. Why does this happen?

Lu Guanqiu, who has been sticking to the industry, said that he was concerned about this phenomenon very early on. He believes that this is first and foremost an environmental issue. People's thinking will always change with changes in the environment. In the current environment, the stock market and real estate are quick and the investment industry is slow. This is also true. Like a universal electric car, it has been put into use for ten years. Not only has it not made money, it has to be voted on.

However, Lu Guanqiu believes that the main reason for the investment industry is still the people's wait-and-see and confusion about the real economy. In the past, most of the industries were built with high-consumption, low-cost labor. Although the cost is low but the quality is not high, some of them also cause some damage to the environment. The future industry is green, environmentally friendly, low-carbon, and scientific and technological. This requires the concentration of science and technology, talent, and funds. It is a kind of "green investment." For such industries, investors are not yet familiar with them and are not sure. At the same time, the commodities produced by such "new industries" still need to open up markets and create consumption. In the current situation of excess market and weak domestic demand, it still requires a lot of material resources and manpower. This will inevitably cause investors to wait and hesitate. The wait-and-see attitude to industrial investment is also one of the reasons why Lu Guanqiu believes that it cannot be said that "recovery" cannot be said.

However, Lu Guanqiu firmly believes that it must be a real economy to recover its glory after the financial crisis. After all, the entity is the support of the economy and it is the long-term interest. Of course, while powerful enterprises invest in industry, they should also attach importance to the operation of capital, combine “tangible” and “intangible”, and use “intangible” resources to create “tangible” values. Wanxiang still insists on the development of industry in the future. This requires more solid strength, including capital, technology, and talent. If the accumulation of industry alone is not enough, we must integrate social capital and resources with capital operation and other means.

"Universal system" has become increasingly powerful in the capital market. Currently Wanxiang Holdings has five listed companies: Wanxiang Qianchao (000559), Wanxiang Denon (600371), Chengde Lulu (000848), Shunfa Sunny (000631) and Amber Energy (0090.HK). There are more than 5 listed companies that have equity participation. first half of this year. Profits increased by 66% year-on-year, which contributed to the capital operation.

Three questions: Wanxiang's new energy vehicles have been in operation for 10 years. Many places have long been witnessing the trial run of all-electrically produced pure electric vehicles. Why hasn't you seen Wanxiang’s announcement of building vehicles?

Lu Guanqiu: It is a major event to build a car. It must be responsible to the society and be responsible to the people. Now I don't have this ability and strength.

"I don't build cars, my son also wants to make!" Lu Guanqiu's rhetoric is still in the ears. However, how many years have passed and Wanxiang's auto parts industry has gone up one after another, especially since his pure electric vehicle has been in operation for five years. Why is it that the vehicle is still not on the vehicle? Old friends are once again Ask Lu Guanqi once.

“The automobile is a highly intensive industry with funds, talent, and technology. How easy is it to make a car? The car is good or bad. You are comfortable and uncomfortable when you sit in. When you are in a new car, the difference is not great. After waiting a few years, you can see that Safety, comfort, low energy consumption, environmental protection, long life cycle, the cars I want to build must stand the test of time and history, be responsible to the society and the people, and I won't create cars that are short-lived. The giants of the foreign auto industry have always felt that I am not strong enough or capable enough.” Lu Guanqiu responded very frankly.

Speaking of his own car dreams, Lu Guanqi accidentally leaked the secret: "Next year in Shanghai, Tianjin, Hangzhou and other places, especially at the Shanghai World Expo, there will be 2,000 large-scale pure electric vehicles carrying passengers. which provided."

The "powertrain" of pure electric vehicles is based on lithium batteries. It is difficult to make new energy vehicles. The battery capacity, battery life cycle, and post-retirement processing are all worldwide problems. Wanxiang has tackled these problems for 10 years and has achieved remarkable results. When people asked about the prospects of pure electric vehicles, Lu Guanqiu said: “The outlook is absolutely promising, but it also requires a lot of investment. How many years can we push the market? I think it would be a decade faster, and it may take 20 years to be slow!” However, Lu Guanqiu is as firm as ever. "I will continue to invest and devote my life, not to mention the fact that the country has already introduced encouragement policies!"

Four questions: For 40 years of universal struggle, what are the mysteries of Evergreen?

Lu Guanqiu: Correctly Recognizing Oneself, Not Doing Things That Exceed Yourself

July 8 this year marks the 40th anniversary of Wanxiang Venture. The group did not invite leadership, did not invite friends, and did not hold a banquet. It only opened a "self-entertainment" conference. Lu Guanqiu took office and delivered a speech entitled "To Continue the Year of Struggle by Adding Zero". , The whole audience was invigorated. After seeing the reaction from the audience, Lu Guanqiu smiled very happy.

A person familiar with the matter told us that during the period from the end of June to the beginning of July, Lu Guanqiu rarely received guests, including reporters who had heard from all over the country and heard the news, and almost reached the level of “retreat”. In fact, Lu Guanqiu did only one thing in those days, but he repeatedly asked himself, “Is it ten years for me to struggle?” Should we not mention it, can we not do it? He’s looking for a core team of entrepreneurs to discuss it over and over, and ask financial staff to measure it repeatedly. The target plan was changed one by one, and it was finally decided that we must continue to “strive for zero for ten years”.

Wanxiang started its business in 1969. From the 1970s to a profit of 10,000 yuan, to last year's daily profit of 10 million yuan, every 10 years of universal profits has successfully added a "zero". Annual growth rate of 25.89%. At the same time, the top earners of employees also added a “zero”. For Ten Thousand Years of Struggle for Ten Thousand People, this means that by 2019, the company will realize a daily profit of 100 million yuan, and the employees will have a maximum annual income of 100 million yuan. This formulation, in fact, the image, and easy to remember - this is the style of Lu Guanqiu.

We asked Lu Guanqiu, where is the mystery of Wan Xiang’s “evergreen”? He replied with a little thought: “To know oneself correctly and not to do things that exceed their own strength! The direction of Wanxiang is greater than in the past, but at home and abroad. The company is still smaller than we are, and Wanxiang has made progress year after year, but we are still lagging behind in the era of rapid leaps.I always feel that the strength of Wanxiang is not enough, so at any time I dare not boast of 'haikou'. In recognition of his own smallness, or to have the spirit of rushing forward, at this year’s National People’s Congress, Premier Wen Jiabao has refined the universal spirit for me: 'hard work, bold innovation, hard work, and courage.' I hope one day , Wanxiang can become a world-famous brand company that is respected and worthy on this earth!"

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October 10, 2023