Galanz finally chose to take the road of diversification, and listing became a step inevitable. This move is better than going late, and it is better to go late than to go.
“We are fully promoting the company's listing.†Liang Zhaoxian, CEO of Galanz Group, publicly stated in January 2011 that “there is no clear timetable yet, but one thing is certain, that is, we will choose the right time to go public as soon as possible.â€
Liang Zhaoxian, who was kindly called "Xiange" by his subordinates, had a big eyebrow and a wide face, and he was extraordinarily simple and friendly when he spoke. When talking about the company's listing, his words showed some cramps.
Starting from the microwave oven, as the only unlisted company among the top five domestic white-light industry, Galanz has won the market with price wars, but it has not been fluent on the listing. In recent years, the news of the preparations for listing has been continuously transmitted from within Galanz, and it has finally disappeared. Nowadays, the old words are added, which adds an intriguing meaning.
The rule of survival of the "spoiler"
There is such a rumor in the market that Galanz is an out-and-out "spoiler." It broke into the field of microwave ovens, and the air-conditioning field that was later stepped into, and the kitchen and bathroom fields that had been involved until recently, all swayed because of its entry.
Galanz is a squid created by its founder, Liang Qingde. Liang Qingde has a cordial call to call "De Shu" in the company.
In 1978, Liang Qingde set up a down products factory, which is a factory. It is actually a small workshop with only 7 employees.
In 1992, Liang Qingde led Galanz into the home appliance industry, and cooperated with Toshiba in Japan to produce microwave ovens, and began to compete in the microwave oven field. In 1995, Galanz took the first place in the Chinese microwave oven market with a market share of 25.1%.
Galanz, known as the “price butcherâ€, uses scale production to support price wars and squeezes competitors out of the microwave oven manufacturing industry with low cost and low price. In 1999, Galanz jumped to become the world's largest professional microwave oven manufacturer, with a production and sales exceeding 6 million units.
In the process of Galanz's sustained rapid development, Liang Qingde has remained unusually calm. He even said to his son Liang Zhaoxian: "We don't do the top 500. We are not interested in doing the top 500. We are not listed. We value it the most. Is it possible for our company to do 500 years?"
Galanz Vice President Yu Yuchang revealed that as a private enterprise, Galanz has been established as an industrial-oriented enterprise for many years and is not willing to do capital-based enterprises with four mergers and acquisitions. "What we are worried about is that after the listing of Galanz, the management will be impetuous, and will pay too much attention to the operation and speculation at the capital level, and ignore the update of technology and management. This is very terrible." Yu Yuchang recalled.
Transformational pain
The year 2000 was an inflection point for Galanz.
In June 2000, Liang Qingde made a good deed, and Liang Zhaoxian became the executive president of Galanz Group and began to take charge of Galanz.
At that time, the Galanz microwave oven had already touched the ceiling. A person familiar with Galanz in China Household Electrical Appliances Research Institute said: "The market space of microwave ovens is difficult to support the rapid development of Galanz. Galanz has therefore ushered in a development bottleneck, or the glory of the microwave oven king is slowly declining, or opening up new ones. The field is undergoing transformation to achieve a second leap forward."
Chen Yuming, vice president of Galanz and president of the ice wash industry group, recalls: "We must find new growth points to have a way out.
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