Although he is a rich second generation, Liu Chang doesn't like being called a rich second generation, and he even pretends to be a rich second generation.
Liu Chang has typical characteristics of the second generation. After studying abroad and returning to China, he entered his parents' company, and the time is ripe to take over.
Fashionable Liu Chang didn't like raising pigs at first, but she had her own hobbies. Once, rebellious, she borrowed millions from her father to start a business, but in the end, she returned to new hope. She said that hobbies and careers cannot be equated.
20 13, Liu Chang was ordered at a critical moment, shouldered the banner of new hope, walked out of the rich second generation aura of "Liu Yonghao's daughter", and gradually established the social impression of "creating the second generation of Chang Lu". In fact, eight years after Liu Chang took over, New Hope Group, a 100-billion-dollar ship, moved forward smoothly.
The new dairy industry has landed in Shenzhen Stock Exchange, the new hope service has landed in Hong Kong Stock Exchange, and the territory of 100 billion new hope capital is also expanding.
However, African swine fever, COVID-19 epidemic situation and pig cycle make New Hope face great challenges. In the first three quarters of this year, the new hope of listed companies (000876. SZ) lost 641100 million yuan, the first loss since listing. Not only that, the new hope debt increased by 23.7 billion yuan during the year, and the asset-liability ratio of the new dairy industry also rose sharply.
Liu Chang said that agriculture and animal husbandry should adhere to the long-term principle. Perhaps short-term challenges will not change Liu Chang's long-term "new hope".
From disgust to "I raise pigs"
He Chaoqiong, the daughter of Stanley Ho, the gambling king of Macau, started her own business before taking over, and finally returned, still following her parents' wishes. Liu Chang's succession has almost the same route.
In China, almost all daughters of the rich second generation have a fixed experience, that is, studying abroad, receiving western-style education and having an MBA degree. After returning to China, she will take over according to her parents' arrangement.
Liu Chang's succession route is slightly deviated. /kloc-At the age of 0/4, Liu Chang made up her mind to be a social butterfly and made her own business card. /kloc-When she was 0/6 years old, she saw Chunxi Road (Chengdu) selling fashion jewelry.
1996, Liu Chang, who was only 16 years old, was sent abroad to study. After returning to China, Liu Chang was resistant to taking over the pig raising. She wants to do something that interests her.
When recalling her daughter's entrepreneurial experience, Liu Yonghao revealed that she had opened a fashion shop, a restaurant, invested in a coffee shop, founded an advertising company and made a record. For a while, she also wanted to take part in the super girl competition.
Liu Yonghao was very open-minded about Liu Chang's rebellion. Instead of stopping it, he provided millions of loans. Liu Yonghao said that starting your own business and working in New Hope Group are all experiences.
In fact, Liu Chang doesn't want to enter new hope. On the one hand, she doesn't want to "associate with pigs and chickens" all day because of the pursuit of fashion. On the other hand, this may be the most important. She doesn't want to live under the aura of "Liu Yonghao's daughter".
However, in 2002, he returned to New Hope in the name of "Li", and gradually grew from an ordinary employee of New Hope Agricultural Office to an office director. At that time, "Li" worked hard and was alert and low-key. No one expected to have contact with Liu Yonghao's daughter. Later, he served as director and deputy general manager of Southern Hope.
20 1 1 year, after 10 years in the name of "Li", he stood out as a new director of hope.
Two years later, on May 22nd, 20 13, New Hope ushered in a historic moment of great turning point. This is also an important moment in the career of Liu Yonghao and Liu Chang. On this day, 62-year-old Liu Yonghao handed the scepter of New Hope to Liu Chang, and Liu Chang took over as the chairman of New Hope.
Today, in the position of chairman, Liu Chang has worked for 8 years.
In eight years, Chang Lu completed the transformation. From the fashionable girl who pursued fashion at the beginning to the second-generation entrepreneur in China today, Liu Chang no longer dislikes going into pig farms and is no longer afraid of going into slaughterhouses. In the face of the interview, she confidently replied, "I raise pigs."
Regarding her daughter's qualitative change, Liu Yonghao described that Liu Chang is working hard now and often thinks all night. She is a person who loves fashion. It is not easy for her to give up the yearning and pursuit of fashion and engage in one of the most practical, basic and traditional industries.
From staying in business to starting a business, establish the label of "Liu Chang"
Liu Yonghao was uneasy when he handed the baton. Eight years later, Liu Yonghao felt very gratified. At present, Liu Chang can be regarded as a successful successor in the second generation of post-80s enterprises in China.
Liu Yonghao is not at ease for a reason. 20 13 is a special period. The agriculture and animal husbandry have undergone profound changes, the feed market has turned sharply, and the pig cycle has entered a trough. Coupled with the public opinion of "fast-growing chickens" and the bird flu incident, Liu Yonghao once laughed at himself for handing over a "most unlucky listed company" to his daughter.
Liu Yonghao still made arrangements to invite Chen Chunhua, a professor from Peking University, as the co-chairman and CEO of New Hope. Liu Yonghao said that Chen Chunhua is not only Liu Chang's sister, but also a mentor. Three years later, when his term of office expired, Chen Chunhua chose to retire.
In the face of the crisis, Liu Chang lived up to expectations and gradually upgraded from a defender to an entrepreneur.
After taking over the new hope, Chang Lu first promoted the transformation of the new hope industry and made changes in marketing and channels, product structure, market expansion and many other aspects.
The most prominent changes are shown in three aspects. First, product expansion is no longer limited to feed, livestock and poultry breeding and slaughter processing, but also entered the food field. The second is to expand the market, speed up the international layout and carry out new retail transformation. In recent years, New Hope's overseas sales revenue accounted for more than 10%.
The profit rate of agriculture and animal husbandry is not high, and technology and cost are the key to success or failure. Promoting technological innovation is the third change promoted by Liu Chang.
Chang Lu said that the pig industry is developing towards scale, modernization, intelligence and data, and the trend is unstoppable. The final support of technology is efficiency. Pig raising has entered the next era, and enterprises will change from large-scale competition to a contest between technology and cost. Enterprises will compete to raise 100 kg pigs in the future, who will spend less money, time and resources.
The technologies mentioned by Liu Chang mainly include biotechnology, precision feeding, animal protection, therapeutic vaccines, global supply chain technology, environmental protection technology and information technology.
Liu Chang publicly stated that for the new hope, it is not only a digital upgrade, but also an overall industrial upgrade iteration, and digital transformation is a very important part.
The transformation of pig industry in Liu Chang also reflects the new hope of commercial transformation. Today's pigsty is no longer a traditional pigsty. Pigs live in buildings with sensors installed around them. The wind, temperature and humidity in the room are controlled by the system.
Intelligent farming not only saves labor costs, but also reduces the contact between pigs and the outside world and reduces the risk of infection.
In addition to the new hope of industrial transformation, Liu Chang also promotes the expansion of capital territory. At the beginning of 20 19, New Dairy successfully landed on Shenzhen Stock Exchange, and Liu Chang, who participated in the establishment of New Dairy, held 64.57% of its shares as the actual controller. In May this year, New Hope Service was successfully listed on the Hong Kong Stock Exchange, becoming the sixth listing platform of Hope Department.
Internal industry transformation and upgrading, embrace new technologies, digital and intelligent industries, enrich industrial formats with the help of capital markets, and expand external markets and global layout. Liu Chang, which is constantly expanding the territory of new hope industries and capital, is no longer just "Liu Yonghao's daughter", but her label is "Liu Chang, the second generation entrepreneur".
"New hope" faces new challenges.
Eight years ago, when New Hope faced great challenges, Liu Yonghao went behind the scenes and Liu Chang was ordered to go to the stage. Eight years later, Liu Chang is facing great new challenges.
The most serious challenge is still the new hope of listed companies. Since 20 17, the operating income of New Hope has been increasing continuously, but the net profit attributable to shareholders of listed companies has been declining.
Specifically, from 20 17 to 2020, the company achieved operating income of 62.567 billion yuan, 69.063 billion yuan, 82.0.51billion yuan and 65.438+00982.5 billion yuan, up by 2.77% and 65.438+0038 respectively. The corresponding net profits were 2.28 billion yuan, 65.438+70.5 billion yuan, 5.042 billion yuan and 4.944 billion yuan respectively, with year-on-year changes of -7.66%, -25.23%, 654.38+095.78% and -654.38+0.94% respectively.
Affected by the pig cycle, the net profit of 20 17 and 20 18 declined continuously. Since the second half of 20 19, the pig price has risen sharply and the net profit has increased sharply. However, in 2020, the net profit of Mu Yuan, Zhengbang Technology and Tianbang will still increase substantially, while the net profit of New Hope will drop substantially.
In the first three quarters of this year, New Hope achieved an operating income of 94.475 billion yuan, a year-on-year increase of 26.32%, and a net profit of-6,405,438+0 billion yuan, a year-on-year decrease of 225.89%. The net profit of companies in the industry generally declined, and most of them lost money. New Hope failed to effectively resist cyclical risks.
Not only is it a huge operating loss, but New Hope also faces greater liquidity pressure. By the end of September this year, the company's monetary fund12.702 billion yuan, short-term loans of 206.5438+0.52 million yuan, non-current liabilities due within one year of 3.853 billion yuan, long-term loans of 34.65438+0.65438+0.3 million yuan, bonds payable of 4.836 billion yuan, and total long-term and short-term liabilities of 62.954 billion yuan.
At the end of last year, the company's long-term and short-term liabilities were 39.202 billion yuan and 654.38+0.345438+0 billion yuan respectively. In the first three quarters of this year, the long-term and short-term debts increased by 23.752 billion yuan and 65.438+0.4 billion yuan respectively compared with the beginning of the year.
The large-scale expansion of the new dairy industry is also facing greater financial pressure. By the end of the third quarter of this year, the company's monetary fund was 50140,000 yuan, and its long-term and short-term debts were 39130,000 yuan, of which short-term debts were163,900 yuan, which was a big funding gap.
By the end of September this year, the asset-liability ratios of New Hope and New Dairy were 64.83% and 68. 14%, respectively, up by 1 1.77 percentage points and 1.49 percentage points from the beginning of the year.
It is worth mentioning that in the eight years since he took over, there have been three presidents, supervisors Han,, and directors (first resigned as directors, then as presidents) resigned from relevant positions.
Liu Chang said that agriculture and animal husbandry should follow the long-term principle, and planting is basically a four-year cycle. In order to stabilize the risk of cyclical fluctuations, the format of New Hope Group is constantly taking risks and diversifying. In addition to feed, livestock and poultry breeding, dairy industry, chemical industry, real estate, property services and financial investment, the company actively expands the industrial chain. The most typical is food business, which mainly includes pig slaughtering, deep processing of meat products, central kitchen and other sub-fields, including prefabricated dishes, and has launched brands such as "Qianxihe", "Liuhe Cuisine", "Beauty" and "Jiahe Yipin". In the first half of this year, the food sector made the most significant effort in the hot pot food track, and the overall income of its "network celebrity big single product" beautiful farm crisp meat increased by 292%.
However, at present, Liu Chang has not crossed the cycle, and it is not only facing enormous operating pressure, but also facing greater liquidity pressure.
Where is the new hope? Liu Chang is still searching.
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