Wang Min said that he is a loyal person. After skipping a slot at the age of 18, he took root in Xugong. Starting from the apprentice, he became the head of today's China's top engineering machinery manufacturer. From 2005 to 2006, Wang Min, Chairman of XCMG Group, directed a highly controversial M&A case in China – Carlyle’s acquisition of Xugong. Even in the face of skepticism in selling state-owned assets, Wang Min still declined the large-scale state-owned enterprises who came to the door to express their investment intentions and insisted on their own initial choices. Although the M&A case was eventually denied, Wang Min’s goal was still clear. "It is our unshirkable responsibility to make XCMG a global famous national brand. It is not an issue that cannot be done, but it must be a good problem."
Industry Prediction 1: In 2015, Chinese construction machinery companies will enter the world's top three commercial papers: As the leader of the industry leader, how do you evaluate the current status of China's construction machinery industry? In the first and second quarters of this year, the domestic construction machinery market has witnessed two heavy fires. Do you think this situation is normal?
Wang Min: In recent years, China’s construction machinery industry has developed rapidly and the industry scale has expanded rapidly. In 2010, China has become the world’s largest market for construction machinery; especially after the financial crisis, China began to play more and more in the development of the global construction machinery industry. Importantly, the Chinese market is becoming the most important growth pole in the world's construction machinery industry. Many local companies are constantly improving the rank of Chinese corporate groups in the world rankings, releasing their influence.
In addition to the downturn that had occurred during the financial crisis in 2009, the domestic construction machinery industry has been experiencing rapid growth. In the first three months of this year, explosive growth has occurred. The sales volume of the entire industry has increased by more than 50%, but from April At the beginning, sales declined significantly and continued until June. Do not continue to decline in the second half is not bad. However, I think that such a timely and appropriate callback is a sign of healthy development. The industry needs continuous development momentum.
Business Daily: What are the prospects for the development of the industry in the next five years or even longer? What changes will happen?
Wang Min: In the next five years, ten years or even longer, the Chinese economy will continue to gallop on the rapid development track. The construction machinery industry is in fact very closely related to economic development and investment construction. Therefore, driven by the rapid economic development in China, the construction machinery industry in China will also have a stronger vitality.
During the “Twelfth Five-Year Plan†period, industry companies should expand their product markets and capital markets globally, base themselves on the industry’s ability to broaden and upgrade construction machinery, heavy truck mainframe products and core parts and components systems, and turn to the high end of the real world-class competition as soon as possible for the future. Equipment manufacturing companies.
XCMG ranked seventh among the top ten global engineering machinery manufacturers in 2011. Our goal is to strive for the top five in 2012 and the top three in 2015. We know that although we are now in the top seven, we still have a big gap with the top three companies. Even if we enter the top three in the next five years, we still have a lot to learn, because even if the scale increases and the ranking rises, we have to do The real international big brands have to work even harder. We are still not enough to understand the needs of users, and some are eager for quick success.
Industry Prediction 2: "Transition from the East to the Whole World" is about to realize the business paper: You just emphasized that the goal of the next five years is the "global market," then what are your suggestions and expectations for the internationalization of the company?
Wang Min: Whether it is from the perspective of the global macroeconomic trend or the development of the mechanized view of the construction machinery industry, there is an unprecedented opportunity for Chinese companies. By taking this opportunity, we can successfully achieve The ambitions and dreams of the world to the world and the global advancement from the east are also very historical missions of China's construction machinery enterprises.
In the "going out" attempt, we also learned a lot. In the late 1980s and early 1990s, Xugong set up more than 100 offices overseas and dispatched many employees to work overseas. However, as a result, the business was not completed, people were gone, and money was not received. This lesson tells us to “go global†to localize, use local sales, services and local agents. Internationalization is not a matter of building a factory to control individual stocks. If you want to go deep into the local market, it is very important to set up a local company. You must also strive to get listed on the local capital market, improve the ability of large-scale capital operations and global mergers and acquisitions, and successfully integrate more foreigners to understand this brand. Really become an international brand.
During the “Twelfth Five-Year Plan†period, Xugong will achieve two breakthroughs, on the one hand, it will regulate and unify the overall operation of the listed company; on the other hand, it will realize the integration of the “heavy card + special vehicle†business. In addition, XCMG will also enhance its three major capabilities: First, it will enhance its ability to integrate and grow core types of machinery, particularly earth-rock machinery and concrete machinery resources; second, it will enhance its international competitiveness; and third, it will enhance large-scale capital operations and global M&A capabilities.
Industry Prediction 1: In 2015, Chinese construction machinery companies will enter the world's top three commercial papers: As the leader of the industry leader, how do you evaluate the current status of China's construction machinery industry? In the first and second quarters of this year, the domestic construction machinery market has witnessed two heavy fires. Do you think this situation is normal?
Wang Min: In recent years, China’s construction machinery industry has developed rapidly and the industry scale has expanded rapidly. In 2010, China has become the world’s largest market for construction machinery; especially after the financial crisis, China began to play more and more in the development of the global construction machinery industry. Importantly, the Chinese market is becoming the most important growth pole in the world's construction machinery industry. Many local companies are constantly improving the rank of Chinese corporate groups in the world rankings, releasing their influence.
In addition to the downturn that had occurred during the financial crisis in 2009, the domestic construction machinery industry has been experiencing rapid growth. In the first three months of this year, explosive growth has occurred. The sales volume of the entire industry has increased by more than 50%, but from April At the beginning, sales declined significantly and continued until June. Do not continue to decline in the second half is not bad. However, I think that such a timely and appropriate callback is a sign of healthy development. The industry needs continuous development momentum.
Business Daily: What are the prospects for the development of the industry in the next five years or even longer? What changes will happen?
Wang Min: In the next five years, ten years or even longer, the Chinese economy will continue to gallop on the rapid development track. The construction machinery industry is in fact very closely related to economic development and investment construction. Therefore, driven by the rapid economic development in China, the construction machinery industry in China will also have a stronger vitality.
During the “Twelfth Five-Year Plan†period, industry companies should expand their product markets and capital markets globally, base themselves on the industry’s ability to broaden and upgrade construction machinery, heavy truck mainframe products and core parts and components systems, and turn to the high end of the real world-class competition as soon as possible for the future. Equipment manufacturing companies.
XCMG ranked seventh among the top ten global engineering machinery manufacturers in 2011. Our goal is to strive for the top five in 2012 and the top three in 2015. We know that although we are now in the top seven, we still have a big gap with the top three companies. Even if we enter the top three in the next five years, we still have a lot to learn, because even if the scale increases and the ranking rises, we have to do The real international big brands have to work even harder. We are still not enough to understand the needs of users, and some are eager for quick success.
Industry Prediction 2: "Transition from the East to the Whole World" is about to realize the business paper: You just emphasized that the goal of the next five years is the "global market," then what are your suggestions and expectations for the internationalization of the company?
Wang Min: Whether it is from the perspective of the global macroeconomic trend or the development of the mechanized view of the construction machinery industry, there is an unprecedented opportunity for Chinese companies. By taking this opportunity, we can successfully achieve The ambitions and dreams of the world to the world and the global advancement from the east are also very historical missions of China's construction machinery enterprises.
In the "going out" attempt, we also learned a lot. In the late 1980s and early 1990s, Xugong set up more than 100 offices overseas and dispatched many employees to work overseas. However, as a result, the business was not completed, people were gone, and money was not received. This lesson tells us to “go global†to localize, use local sales, services and local agents. Internationalization is not a matter of building a factory to control individual stocks. If you want to go deep into the local market, it is very important to set up a local company. You must also strive to get listed on the local capital market, improve the ability of large-scale capital operations and global mergers and acquisitions, and successfully integrate more foreigners to understand this brand. Really become an international brand.
During the “Twelfth Five-Year Plan†period, Xugong will achieve two breakthroughs, on the one hand, it will regulate and unify the overall operation of the listed company; on the other hand, it will realize the integration of the “heavy card + special vehicle†business. In addition, XCMG will also enhance its three major capabilities: First, it will enhance its ability to integrate and grow core types of machinery, particularly earth-rock machinery and concrete machinery resources; second, it will enhance its international competitiveness; and third, it will enhance large-scale capital operations and global M&A capabilities.
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