From a practical point of view, the success of capital operation of Chinese enterprises and the sustainable benefits to enterprises must be closely related to industrial support. Whether Haier's capital operation with industrial expansion as the core or Delong's integration of traditional industries with capital market takes capital operation as a strategic means, while Yi 'an obviously lacks the industrial foundation. The so-called investment projects are far from industrialization or have little technical content at all. The most important thing is that in the Yi 'an model, the industry has only become a "story background" for "circling money". Many enterprises engaged in capital operation in China also suffer from the Yi 'an model. In the eyes of these capital operation operators, capital operation is to speculate in stocks and circle money.

. M&A is an important means of capital operation, and the key to the success of M&A lies in integration. The failure of many M&A behaviors does not lie in the technical problems (including price problems) of M&A itself, but often lies in the problems of integration after M&A, or even the delay in forming effective integration. Both Delong and Haier regard integration as a very important link in the process of capital operation, and even think that integration is more important than merger and acquisition itself. Haier emphasizes the importance of corporate culture integration, while Delong attaches importance to the integration of human capital and industrial structure. It is this incomparable emphasis on integration that has created the miracle of Haier's sustainable development and Delong's expansion.

Delong memorabilia No.16, October 2116

1986

Delong's predecessor

-

Urumqi

New Product Technology Development Department and Tianshan Trading Company were established successively,

engaged in color development,

clothing

wholesale, food processing, computer sales and other businesses.

1992

Xinjiang Delong Industrial Company was incorporated with a registered capital of RMB

811,111

. Xinjiang Delong Real Estate Company was established and began to enter the fields of entertainment, catering and real estate investment.

1994

Xinjiang Delong Agriculture and Animal Husbandry Co., Ltd. was established with a registered capital of RMB

1

billion yuan to develop agriculture and animal husbandry in Xinjiang.

1995

Xinjiang Delong International Industrial Corporation was established with a registered capital of RMB

211 million. Set up a liaison office in North America to expand foreign business.

1996

Xinjiang Tunhe legal person shares were acquired to form Xinjiang Tunhe Group.

1997

was transferred to Shenyang

alloy legal person stock, and entered the manufacturing field of household outdoor maintenance equipment and electric tools. Transferred the legal person shares of Hunan Torch and entered

the field of auto parts manufacturing.