Jack: Business Family Dream

The average life cycle of the private enterprises in Taizhou is 3-5 years, and the survival rate of enterprises above 10 years is less than 30%.　　In Ranford's view, only by listing, "the family business into a corporate family" is the long-term survival of enterprises.　　Trainee reporter Zhu Jian three years ago, resigned Zhejiang New Jack Sewing Machine Co., Ltd. chairman and transferred to vice chairman of the Ranford, the office from the luxurious East house moved to a small and quiet West. "My present position is the Chairman of Jack Holdings and vice chairman of New Jack, looking at the big name, in fact, is commander." Look, I don't even have a phone call for me. "At the end of the two-hour interview, Ranford, fiddling with the silent phone, said," Now, even if all executives evaporate for a week, everything will work. As one of the enterprises involved in the restructuring of Taizhou private enterprise, Jack Holdings has been placed in high hopes.　　In the past a long time, Ranford has been trying to reform equity, which coincided with the government's actions. While the acquisition side restructuring actually need not let the status quo to contrast Ranford 5 years ago busy.　　December 2004, Jack Holdings into the reorganization of Jiangxi Jian Machine Tool Factory, the establishment of Jiangxi Jack Machine Tool Co., Ltd., is a private enterprise mergers and reorganization of state-owned assets of a classic case. At that time, Ranford was determined to give himself "burden". The Ranford, who had been the parent of everything, "left the hand" in the reorganization. Despite the withdrawal of local state capital, Ranford a total of 31% of the shareholding, retained the original number of senior executives. "At that time the consideration is, only our capital and the culture of the enterprise inject, the management continues to give the professional team to take care of." Ranford recalls. At the time, decentralization was a bold enough attempt, but it received unexpected results. In a short period of time, Jack Holdings has evolved from "One Foot jump" made from a sewing machine to a "walking" of sewing machines and machines.　　As a result, in 2008, the overall market for sewing equipment exports shrank significantly, Jack holding by virtue of machine tool manufacturing performance, invincible. From then on, the new system of executive shareholding was rapidly promoted within Jack's holding. Since 2005, its subsidiaries have gradually joined the ranks of the transformation of shares. Today, at the New Jack level, 7% of the shares are held separately by 10 senior executives. For example, two of the motor and machine tool industry, Jack Holding Group Holdings accounted for 56% and 69%. In addition, for the export of sewing equipment unfavorable situation, New Jack also took out 6% of the shares with the dealers share. "Whether the executive or the distributor, holding a certain share, that means a stable equity interests, but also conducive to enterprise human resources and sales network long-term stability."　　Ranford explained. In July this year, New Jack again invested 45 million yuan, through the non-equity, non-debt-style acquisition of Bullmer (Ben Ma) and topcut (Tuo card), Zhejiang New Jack set up a Topcut-bullmer (Tuo card Ben Ma) company. With the former Jack holding restructured RiverSigian machine Tool Plant Similarly, Ranford gives a 25% per cent stake in the German management. And unlike before, this New Jack acquisition, the fancy is the same for sewing machine manufacturers Bullmer and Topcut, in the industry's core technical force and international marketing Network. "Through its integration, expansion, market integration, enhance NEW Jack core technology content and export capacity." Since the acquisition in July, the value of the enterprise output chain increased by 50% in August, doubled in September than in July. Our order is now in a few months ' time. This shows the effectiveness of our mergers and acquisitions.　　"Ranford said. However, Jack holding the original through the domestic and overseas acquisitions, and in the reorganization of the executive shareholding, so that the restructuring of their own corporate equity restructuring of the "acquisition of the Law", which is strongly advocated by the Taizhou government of the equity restructuring campaign is still an exception.　　"Zhejiang merchants" reporter noted that after two times of large-scale acquisitions, Jack holding a debt rate of only 52%. Ranford said: "If we do not invest not to buy, we can not even ask the bank for a penny of the loan."　　"It also means that the" Jujek "may only apply to companies with excellent" good money "performance. It is reported that the newly established Topcut-bullmer company, will be in Germany and strive to market.　　This is likely to be a shortcut to the market for Jack, who has been looking for years to enter the capital markets at home and abroad. This Ranford introduced Jack holding the current tentative listing plan: "Relative to overseas capital markets, we are more attracted to the domestic a-share, it is closest to the status of private enterprises." Between 2011 and 2012, Jack holding or will have two subsidiaries to the capital market, one is the New Jack of the SME board, and the second is the Gem Jack Machine. The listing of managers as Chairman and legal representative is not only the goal of Jack holding for the next 3 years, but also the long-cherished wish of most private enterprises. Ranford told reporters that the reform and opening-up over the past 30 years, the average life cycle of Taizhou private enterprises is 3-5 years, more than 10 years of enterprise survival less than 30%.　　In his view, only by listing, "the family business into a corporate family" is the long-term survival of enterprises. He said: "First, the family business must be restructuring, so that equity open and diversified, at the same time, the formation of stable human resources and unified corporate culture, so that every employee really regard the enterprise as their own home." This is the reason for Jack holding to participate in the government-led equity reengineering program, and at this stage become a standard quasi listed company.　　"The Unity of corporate culture" is not an armchair policy, but a Ranford to the core decision-making of the enterprise. Ranford not Taboo "protest", but stressed: "Only in this way, Jack's right to operate and ownership can be completely separated, so that the decision-making force step." Generally speaking, for the group of subsidiaries, the Chairman of the group at the senior level, the general manager is hired. But we have to step, not just the chairman, but the legal representative.Positions are entrusted to the management layer. "New Jack Chairman Zhaoqing, formerly XI ' an veteran state-owned sewing machine factory, the former XI ' an standard sewing industry AG head. Ranford and he had known each other five years ago, their professional quality and business philosophy has long been familiar: "The separation of two rights, the need to find such a consistent goal, the value of the same people." He must bear the legal risk, the management performance responsibility, the value orientation and so on, although only 1% shares. "Similar to this, Jack holding a number of subsidiaries of the head of the company, such as Jiangxi Jack Machine Tool Co., Ltd. Chairman Chen Huaqui, general manager Jiang Group, Hunan Jack CNC Grinder Co., Ltd., chairman of the Hu Yu, and so on, all in Ranford said" goal and value orientation ", and thus truly grasp the real power And they became the real creators of Jack's holdings of wealth.　　Data show that the annual sales of New Jack has been as much as 700 million or 800 million yuan, driving Jack's sewing equipment in the field of nearly 1 billion yuan per year total sales; the machine tool and motor industry, which is on track, is expected to bring 4.6 billion yuan sales increment to the group next year. Under the joint founder of Ruan's brothers Jack Holding, the three brothers ' decision management also shifted from a strong to "inaction." "At the moment, the restructuring of the family-owned shares has had a very good effect at the subsidiary level," he said. The structure and management of the entire group will also be moving in this direction.　　"It is reported that the group level, Ruan Brothers total shareholding of nearly 100%, in the next three years, through three additional, gradually reduced to 30%-50%." "The core asset of an enterprise is innovation, and the entrepreneurial skill is innovation." Among them, it includes the system innovation represented by equity. "The three brothers in the largest share of the President Lan Jixiang said.