It is said that even the most arrogant foreign counterparts have been deeply shocked after visiting Shenyang Machine Tool, a modern factory with a total investment of 1.8 billion yuan and covering more than 700,000 square meters. They have traveled all over the world and have never seen it before. A grand and stylish machine tool factory. In 2009, Shenyang Machine Tool Group completed sales revenue of 12 billion yuan. According to the recently announced world machine tool company rankings by Cardinal, it is ranked 5th in the world. In 2002, its sales revenue was only 1.3 billion yuan, ranking 36th in the world.
For some time, the largest machine tool company in China seems to be intentionally or unintentionally keeping a distance from the outside world. Occasionally, it appears in the media, and it is also full of the pride of the "elderly son of the Republic", carrying the mission of revitalizing China's equipment manufacturing industry; but the company's operation is rarely revealed.
However, it is quite criticized by the outside world that this rapid growth process brought to Shenyang Machine Tool Co., Ltd. not only the improvement of the income level, but also the decline of asset quality and profitability. Judging from its financial data for the past five years, in general, the company's operating income has been rising, and its net profit has been greatly reduced. This is in stark contrast to the situation of Kunming Machine Tool, another listed company under the Shenyang Machine Tool Group. .
If a few years ago, the industry mentioned Shenyang machine tools, even if you don't have an admiration, you will definitely feel a little nervous, or beware; now, some domestic counterparts have some disapproval of the industry boss. Its luxury factory buildings, as well as the “big road goods†shipped from it, have become “negative models†that other companies have taken for granted. Even the people in the industry privately "cooked wine on the hero", actually excluded the Shenyang machine tool from the future industry hegemon.
Shenyang machine tools that have been silent for two years seem to be saying something. As the "big boss" in the industry, I am afraid that even many people in the industry are still unclear. What did Shenyang Machine Tool do in the past two years, and where will it head in the future?
On March 18, 2010, in the face of "China's Electromechanical Industry", Guan Xiyou, Chairman of Shenyang Machine Tool, talked about the development history of Shenji in recent years, his views on the development trend of the world machine tool industry and the future development of the company. The core of his talk is “transformation and innovationâ€, which is the theme of his administration since he took office in 2008. During this period, and in subsequent interviews, "China's Electrical and Mechanical Industry" strongly felt that a profound change has been brewing and erupting inside Shenyang's machine tools, but it seems to be unpredictable from the outside. "China's Electrical and Mechanical Industry" found that Shenyang's financial statements for the past two years are not good-looking, and it is very likely that the "cost" that comes with this change, the industry may have overlooked its betting chips for the future.
On the timetable of Guan Xiyou, in 2015, Shenyang Machine Tool will become “the largest and strongest machine tool manufacturer in the worldâ€. Has it been confirmed by some insiders that the Shenyang machine tool is “bigger and weakerâ€, can this be achieved? How will it be achieved?
This boss does not make money. If Chinese companies are to be bigger and stronger, they will only cause tragedy.
- Famous economist Lang Xianping If you summarize the development of Shenyang machine tools in the years from 2002 to 2008, "bigger" is undoubtedly one of its most prominent features. This point, we can see through the financial data released by Shenyang Machine Tool listed company, it is particularly clear: in 2002, the company's total assets of 3.972 billion yuan, operating income of 1.075 billion yuan; by 2008, these two figures have expanded to 9.328 billion Yuan and 6.545 billion yuan, respectively, more than doubled and six times.
This is the golden age of the development of China's machine tool industry. With the rapid growth of China's economy, fixed assets investment in the downstream industries of machine tools such as automobiles, aerospace and construction machinery has increased rapidly. In 2002, China became the world's largest machine tool consumer in the first time and has remained so far. From 2002 to 2008, the output of China's gold cutting machine tools increased by 18.58% annually. The average annual growth rate of CNC machine tool production was as high as 33.22%. In this sense, China is able to create two of the top 10 companies in the world's machine tool industry (except for Shenyang machine tools and the other is Dalian machine tools), which can be described as a hero.
During this period, Shenyang Machine Tool launched a series of cross-border and cross-regional acquisitions: first, the acquisition of the German company Heath in 2004, the restructuring of Yunnan CY Group, followed by the Kunming Machine Tool Plant in 2005. Usually, mergers and acquisitions are regarded as the most effective means for rapid expansion of enterprises. The ambition of Shenyang Machine Tool to "bigger" is self-evident. It should be pointed out that behind this series of acquisition decisions, it seems that Shenyang Machine Tool has been worried about its continuous "bigger" development path. However, the situation quickly turned sharply.
Or from the financial data released by Shenyang Machine Tool listed company, its net profit surged from 4.58 million yuan in 2002 to 133 million yuan in 2006, and then suddenly fell to only 21.19 million yuan in 2008. According to the company’s latest 2009 annual report, it achieved a net profit of 27.04 million yuan last year (as analysts pointed out, this is based on non-recurring gains and losses such as debt restructuring income and government subsidies, if deducting non-recurring gains and losses, Its net profit is -25.48 million yuan, and the profit situation is still not optimistic.
This is in stark contrast to the other two listed companies in the machine tool industry, Kunming Machine Tool and Qinchuan Development: it was also affected by the financial crisis. In 2009, unlike the loss of Shenyang Machine Tool, Kunming Machine Tool deducted non-recurring After the profit and loss, the net profit rate still reached 14%, Qinchuan development also reached 8%, and since 2002, even in the best years, Shenyang machine tools have a net profit margin of 3%, which is quite a "small profit"!
In 2008, the total profit target of Shenyang Machine Tool at the beginning of the year was 210 million yuan, but the actual completion was only 60.85 million yuan (less than 30% of the target value); in 2009, its total profit target was lowered to 120 million yuan, and ultimately only Completed 98.29 million yuan (82% of the target value). It is not difficult to see that on the issue of profitability, the largest machine tool company in China has been somewhat incapable. The problem is that the industry leader - the world's fifth-ranked, has won the China Industrial Award, enjoys the title of "National Innovative Enterprise", has repeatedly filled the domestic gap, and has a monopoly advantage in some product areas - why not make money? ?
There may be many reasons. In our opinion, the main thing is probably the following two points:
First, in 2004, Ram Charan called for companies to pursue quality growth in the book Growth Power. The so-called high-quality growth is mainly reflected in the simultaneous and continuous growth in revenue growth, profit growth and cash flow from operating activities. Investigate the changes in these three indicators in the past five years of Shenyang Machine Tool listed companies: operating income continues to increase, net profit declines rapidly, cash inflows from operating activities continue to shrink, and even net cash outflows have occurred for three consecutive years. This shows that Shenyang Machine Tool lost its cost control in the process of pursuing scale expansion, and its operational efficiency declined. The cost of its growth is high.
The famous economist Lang Xianping once pointed out that Chinese enterprises can't be bigger and stronger, but Chinese enterprises can easily get out of control as long as they become bigger and stronger, which will cause the company's follow-up operations to be in trouble. Companies that have problems in this area are too numerous to enumerate. The advice he gave was that companies must “excelerate and control costs†in the process of becoming bigger, otherwise it would be difficult to be strong.
Secondly, comparing the gross profit level of Shenyang Machine Tool, Kunming Machine Tool and Qinchuan Development, the three machine tool listed companies in recent years, Shenyang machine tools are around 17%, Kunming machine tools are around 35%, Qinchuan development is around 25%, which is certain The extent reflects the different development paths and competition strategies of the three companies. Shenyang machine tools started from ordinary lathes, drilling machines and boring machines. Although these general-purpose products are large in quantity, due to fierce competition and serious product homogeneity, gross profit margins are generally not high. Especially after CNC machine tools gradually established the status of mainstream products in the market, this seems to be the shortcoming of Shenyang Machine Tool “Difficult to turn aroundâ€.
In contrast, the Kunming machine tool, known as the "é•— milling family", Qinchuan development of the grinding machine is second to none in the country, this fine and specialized product positioning, although they are unlikely to achieve the same size as Shenyang machine tools, but the goal The strategy of gathering has given them a relatively high level of gross profit.
For Shenyang machine tools, the most direct and effective way to increase gross profit margin is to increase the proportion of CNC machine tools in production and sales. In recent years, it has indeed made great efforts in this respect, and has achieved great results; but as of now, the proportion of ordinary machine tools in its total revenue is still as high as 40%. Product structure adjustment has not kept up with changes in market demand and has become one of the bottlenecks restricting the development of Shenyang machine tools.
If we take a slight view, we will find that many leading manufacturing companies in China have faced the trap of “bigger†in the long history of China (and of course enjoy the thrill of “biggerâ€). : Large-scale expansion of production - low-cost competition to seize market share - the establishment of a huge corporate empire - the cost has risen sharply, gross margins have fallen sharply - corporate losses or even bankruptcy. Liu Chuanzhi told us about the "winter" of rising Lenovo's share and falling gross profit. Zhang Ruimin once described Haier as "one meter and eight", but malnourished and weak, "cannot compete and compete with others." The solution lies in the transformation and upgrading of enterprises to jump out of the past model and enter a new higher level cycle. We have seen their hard work in doing so. Including Li Shufu, he is trying to achieve a great leap in Geely through radical internationalization.
As mentioned earlier, as early as 2004-2005, when M&A was heavily implemented, Shenyang Machine Tool’s concerns about its own development path have already emerged, and its choice of M&A objects: German Heath – has a history of 140 years, The world-famous heavy-duty machine tool manufacturer, Yunnan CY Group - "China's machine tool industry gold export base", Kunming machine tool - known as the "镗 milling family" market segment leader, it is clear that these acquisitions are not for simple scale expansion, It has revealed its clues to "product structure adjustment" and "market structure adjustment".
In 2006, Shenyang Machine Tool moved to the new plant area as a whole. Then, in 2007, Shenji seized the opportunity of relocation and carried out a “reform and re-engineering in the history of Chinese industry†(Chen Huiren, former chairman of Shenyang Machine Tool). At the beginning of 2008, Chen said at the annual managerial meeting of Shenyang Machine Tool: “It must be acknowledged that the development of Shenyang Machine Tool in the past few years is based on the development of scale expansion. In contrast, the quality and efficiency objectives are in the second place. To be at the level of one level, this mode of development is unsustainable.†“Transformation†has been established as a new theme for the development of Shenji in the next few years. However, what surprised the outside world was that after a few months, Chen immediately went to work without any warning.
Late Transformations For a long time, we have been using scale advantages to avoid change... it is like thinking about small businesses.
- Ford Motor Company Chairman Bill Ford
Regarding the resignation of Chen Huiren, Shenyang Machine Tool has not been as deep as ever. It is widely believed that this is related to the fierce contradiction caused by Shenyang Machine Tool in the process of selling shares to foreign investors. In April 2007, Shenyang State-owned Assets Supervision and Administration Commission issued a 49% stake in Shenyang Machine Tool Group. In June of that year, it was reported that JANA, the US hedge fund, would receive a 30% stake in Shenji Group. This foreign acquisition was prolonged and eventually abortion was announced in October 2009. In November 2009, the Shenyang State-owned Assets Supervision and Administration Commission once again listed the 30% equity of Shenji Group, but suffered an embarrassment that was delayed and no one was delisted. This highly-recognized restructuring has not yet been completed.
What is not well known to the outside world is that the overall relocation in 2006 and the reorganization of the reorganization in 2007 caused great confusion and even confusion within the Shenyang machine tool, which led to a passive situation in its production and operation. To some extent, this is one of the direct reasons for the sharp decline in the profitability of the machine in 2007 and 2008.
It is understood that before moving into the new park, the four mainframe factories of Shenyang Machine Tool basically operate independently. After moving into the new park, after the “reconstructionâ€, the four mainframe companies were reorganized into 11 new mainframe business units, and functions such as financial funds, procurement and external resources, and human resources were separated from the corporate units and concentrated in the group headquarters. The core business functions of the department are positioned as R&D, marketing and product integration manufacturing processes. The original intention of this design is to reduce the redundant configuration of resources and maximize the advantages of group concentration.
However, the result of the operation is very problematic: as the business entity of the company, the business department must face the complicated and uncoordinated instructions issued by the large organizational system on the one hand, and the powers of people and property that should be enjoyed on the other hand. The enthusiasm and initiative are severely constrained; each business unit only pays attention to the output and output value, and cannot control the cost; there is no effective cooperation between the business divisions, and the procurement supply and production demand are out of line; the organization operation efficiency is low, and the market and service customers cannot be responded to in time. .
In the end, this "breaking down the structural system and business processes that have been accumulated over the past few decades", "the change that led to the complete elimination of the management experience of every manager" (Chen Huiren), with Chen’s resignation And stop. In June 2008, after Guan Xiyou, the general manager of Shenyang Machine Tool, became the chairman of the board, he immediately raised the scalpel for this highly centralized management system. The power of people and property returned to the operating entity, while streamlining the organization and optimizing the process. The Ministry urgently needs a key purchased part, which has to go through the approval and balance of the logistics platform and financial platform of the Group's headquarters. The link is complicated, and after the division is divided according to its actual situation, the process is at least “shortâ€. /3 to 1/2.
At the age of 44, Guan Xiyou was a veritable young man. At the age of 33, he became the general manager of Zhongjie Friendship Factory. At the age of 38, he became the general manager and vice chairman of Shenyang Machine Tool Group. In 2001, he led the Zhongjie Friendship Factory to win the bid for the Shanghai Maglev high-speed train track processing equipment project. In just six months, he successfully completed the task that many people thought was impossible, and laid the groundwork for it in China. The status of the industry.
As Shenyang Machine Tool entered the “Chong Xiyou eraâ€, according to its employees, “the company’s weather is one of the changesâ€. We seem to be able to see some of his differences with his predecessor from his first speech to the company manager after he took office. In this short speech, there are three requirements for the work style of managers at all levels: first, less notice or no notice; second, less punishment, more incentives; third, caring for employees ,From the little things. According to people close to Shenyang Machine Tool, Chen Huiren is majestic, and Guan Xiyou is very friendly. For the latter, the reporter has fully felt during the interview process; while the former, the reporter has never interviewed Chen Huiren and did not dare to comment.
Guan Xiyou once said that if the company is likened to a ship, I am not a captain or a helmsman. I have positioned myself as the functional designer of this ship: for example, if we are going to a scientific investigation, I will arrange the function of breaking ice and go to war. I will arrange rockets and missiles. Undoubtedly, since he took office, the most arduous and urgent task in his desk is still transformation – what function will he design for the big ship of Shenyang Machine Tool?
Today, the goal of Shenyang Machine Tool to become the world's number one in 2015 has already shown the world. If it is based on scale, as some foreign counterparts predict to Guan Xiyou: "You can do it in 2012." Shenyang machine tools have great experience and inertia. But this is obviously not what Guan Xiyou wants: the real world first, not only has scale, technology, brand, business philosophy and business model, but also one can not be less, but also has a leading role in the industry, which means "not only Be big, and be strong."
How to climb the peak?
We don't want to be the world's boss,
However, we are already on the road to the world's boss.
-- Sun Yafang, Chairman of Huawei. Although the industry is constantly questioning, Guan Xiyou told China Electromechanical Industry that within the Shenyang machine tool, "no one employee suspects that our goal cannot be achieved."
The bottom gas comes first. Shenyang Machine Tool has been betting on the road of technological innovation for a long time. It is gradually becoming a big success. According to him, at present, "we are in the eve of the breakthrough of key technologies."
The pain of technology, I am afraid that Shenyang machine tools and even the entire Chinese machine tool industry can never be forgotten. We have gone through a long period of market-changing technology, but in the end we found that this road is not feasible. Due to the lack of self-innovation ability, we introduce a generation, behind a generation, how to imitate how not, Guan Xiyou said that the biggest gain at that stage is to let us know the gap with the world's advanced level.
Without core technology, it is almost impossible to move internationally. Guan said that I was motivated by the boss. At the 2003 International Machine Tool Show in the United States, Shenyang Machine Tool was arranged in the basement to ask people if they could go to the hall. People answered that you still have no qualifications, and you can't give money. The taste that has been despised is so far in the throat.
After more than ten years of technical research and development, Shenyang Machine Tool only realized in the past few years that the original number of roads was wrong. It can only be considered as design, not called R&D; in fact, it is not the drawings, nor the so-called technical know-how. It is technical optimization. For example, a new product project in cooperation between a machine and a German university, the product prototype came out, but did not meet the design goals, what is the reason? Just go to other people to optimize, Guan Xiyou said, for example, to give people a comprehensive MRI, the machine is starting up, there are several computers on the other side showing the various states of the machine, there are problems here, there are The problem, then give you the solution to optimize the solution. However, the project was not finished, and it was stopped by the German government. Because the competitors were anxious and ran to complain, the relevant organizations also proved that the research may have the birth of basic technology and key common technologies, thus arming Chinese enterprises with German technology. .
Guan Xiyou said that one of the reasons why German manufacturing is so developed is that its entire socialized research system is too perfect. After returning to China, he visited some universities and research institutes in China and found that the gap between us and others is very large. Some things are urgently needed by the industry, but enterprises can't do it. We can't raise so many professors and customs, but companies, especially leading companies, have the responsibility to participate and make their own efforts. In recent years, Shenji has done a lot of work in the combination of production, study and research. Recently, Tongji University has been jointly established with Tongji University - Shenyang Machine Tool Research Institute.
Since the road of technology introduction is nowhere to go, Shenyang Machine Tool has accelerated the pace of independent innovation. This process is very painful. Guan Xiyou said that the first is a large-scale investment, and the pressure is great. Secondly, how to cultivate and retain talents is also a very troublesome issue. For example, after moving into the new factory area, it was determined to engage in control system software. Before that, Shenyang Machine Tool had hoped to buy it with foreigners. People had a high price of 60 million euros, and some experts pointed out that even if they bought it, they should be able to understand the need. In the past five years, I have understood that I will change it. I have to wait two years. But to do it yourself, the early suffering is huge. Not only do you have to raise a large number of development teams with high salaries, the investment is very high every year, and it is not like building a house. You can see how high it is every day, because what they finally took out is a piece. CD. Finally, this team has made achievements since last year.
In the process of independent innovation, Guan Xiyou summed up two things: First, compared with the R&D process, the results of R&D are not the most important. Because even if this product development fails, new technologies will be generated throughout the process, and new experiences will be accumulated. These technologies and experiences can be applied to other products to improve your overall level. Second, we must pay attention to the construction of research and development systems and platforms. A sentence from a high-level Siemens company has impressed Guan Xiyou. He said that Siemens is not a product, it is a human being.
After the financial crisis, Guan Xiyou strengthened his judgment on the two major development trends of the world machine tool industry: First, the world machine tool industry is accelerating the transfer to China. In 2009, China became the world's No. 1 machine tool producer for the first time, and for the first time surpassed the US to become the world's No. 1 automobile production and sales country. This is an important sign that China's industry has entered a period of upgrading and rapid development, which provides domestic machine tool enterprises with A rare historical opportunity; second, modern manufacturing technology has made tremendous progress in the past decade. From the current point of view, it is unlikely that revolutionary changes will occur in the future for a long time. The world's major machine tool manufacturers have obvious technology. Convergence, homogenization competition is becoming more and more serious, which gives latecomers a chance and space to catch up.
In addition, Chinese companies have an important advantage, that is, low labor costs. Guan Xiyou has calculated an account. At present, the world's two major machine tool powers - Germany and Japan, labor costs account for 30% to 35% of the total cost, while China's highest is only 8%, which means that Chinese companies have at least 20% or more. Cost advantage. What we lack is still technology, management and brand.
The problem has settled on the transformation and upgrading. Shenyang Machine Tool has proposed that it is necessary to completely eliminate ordinary machine tools in the next three years. The specific method is to transfer the production of ordinary products through OEM. It is understood that, like Shenyi Lathe Factory, an OEM special implementation team was established in early September last year. At the end of December, the monthly output of its OEM machine tools reached 1,200 units. However, considering that the proportion of ordinary machine tools in the production and sales of Shenyang machine tools is still as high as 40%, this is undoubtedly a huge challenge.
With the elimination of ordinary machine tools, the CNC machine industry park of Shenyang Machine Tool Co., Ltd. will mainly produce five new series of products that use the latest technology and developed for the international market: new trampoline series, new CAK series, new HTC series, Xinlijia series and New bedroom plus series. The development of this new five-category product reflects an important product strategy of Shenyang Machine Tool: “Low cost, internationalizationâ€.
In Guan Xiyou's view, there is a break in the product hierarchy of CNC machine tools in China and the world. "The value is equivalent to a gap between 30,000 and 1 million. There must be a generation of products in the middle," he told China's electromechanical industry. "The new five products of Shenyang Machine Tool are to fill this gap. Therefore, we are not targeting the world's top products and technologies, but are market-oriented and provide the most cost-effective products for domestic and international customers."
At present, Shenyang Machine Tool is committed to building a new supply chain in the upstream of the industrial chain, using its own scale advantage to bundle the world's high-end supply chain system to create a boutique host; in the interior, it is vigorously promoting lean production, while promoting manufacturing, while rapidly promoting the enterprise R&D and service transformation, and began to lay out the global marketing and service system; finally, in the role of the market, Guan Xiyou hopes that Shenyang Machine Tool will present in front of customers not “selling products†but “cutting expertsâ€, “to let customers If there is a processing problem, I think of the Shenyang machine tool."
For some time, the largest machine tool company in China seems to be intentionally or unintentionally keeping a distance from the outside world. Occasionally, it appears in the media, and it is also full of the pride of the "elderly son of the Republic", carrying the mission of revitalizing China's equipment manufacturing industry; but the company's operation is rarely revealed.
However, it is quite criticized by the outside world that this rapid growth process brought to Shenyang Machine Tool Co., Ltd. not only the improvement of the income level, but also the decline of asset quality and profitability. Judging from its financial data for the past five years, in general, the company's operating income has been rising, and its net profit has been greatly reduced. This is in stark contrast to the situation of Kunming Machine Tool, another listed company under the Shenyang Machine Tool Group. .
If a few years ago, the industry mentioned Shenyang machine tools, even if you don't have an admiration, you will definitely feel a little nervous, or beware; now, some domestic counterparts have some disapproval of the industry boss. Its luxury factory buildings, as well as the “big road goods†shipped from it, have become “negative models†that other companies have taken for granted. Even the people in the industry privately "cooked wine on the hero", actually excluded the Shenyang machine tool from the future industry hegemon.
Shenyang machine tools that have been silent for two years seem to be saying something. As the "big boss" in the industry, I am afraid that even many people in the industry are still unclear. What did Shenyang Machine Tool do in the past two years, and where will it head in the future?
On March 18, 2010, in the face of "China's Electromechanical Industry", Guan Xiyou, Chairman of Shenyang Machine Tool, talked about the development history of Shenji in recent years, his views on the development trend of the world machine tool industry and the future development of the company. The core of his talk is “transformation and innovationâ€, which is the theme of his administration since he took office in 2008. During this period, and in subsequent interviews, "China's Electrical and Mechanical Industry" strongly felt that a profound change has been brewing and erupting inside Shenyang's machine tools, but it seems to be unpredictable from the outside. "China's Electrical and Mechanical Industry" found that Shenyang's financial statements for the past two years are not good-looking, and it is very likely that the "cost" that comes with this change, the industry may have overlooked its betting chips for the future.
On the timetable of Guan Xiyou, in 2015, Shenyang Machine Tool will become “the largest and strongest machine tool manufacturer in the worldâ€. Has it been confirmed by some insiders that the Shenyang machine tool is “bigger and weakerâ€, can this be achieved? How will it be achieved?
This boss does not make money. If Chinese companies are to be bigger and stronger, they will only cause tragedy.
- Famous economist Lang Xianping If you summarize the development of Shenyang machine tools in the years from 2002 to 2008, "bigger" is undoubtedly one of its most prominent features. This point, we can see through the financial data released by Shenyang Machine Tool listed company, it is particularly clear: in 2002, the company's total assets of 3.972 billion yuan, operating income of 1.075 billion yuan; by 2008, these two figures have expanded to 9.328 billion Yuan and 6.545 billion yuan, respectively, more than doubled and six times.
This is the golden age of the development of China's machine tool industry. With the rapid growth of China's economy, fixed assets investment in the downstream industries of machine tools such as automobiles, aerospace and construction machinery has increased rapidly. In 2002, China became the world's largest machine tool consumer in the first time and has remained so far. From 2002 to 2008, the output of China's gold cutting machine tools increased by 18.58% annually. The average annual growth rate of CNC machine tool production was as high as 33.22%. In this sense, China is able to create two of the top 10 companies in the world's machine tool industry (except for Shenyang machine tools and the other is Dalian machine tools), which can be described as a hero.
During this period, Shenyang Machine Tool launched a series of cross-border and cross-regional acquisitions: first, the acquisition of the German company Heath in 2004, the restructuring of Yunnan CY Group, followed by the Kunming Machine Tool Plant in 2005. Usually, mergers and acquisitions are regarded as the most effective means for rapid expansion of enterprises. The ambition of Shenyang Machine Tool to "bigger" is self-evident. It should be pointed out that behind this series of acquisition decisions, it seems that Shenyang Machine Tool has been worried about its continuous "bigger" development path. However, the situation quickly turned sharply.
Or from the financial data released by Shenyang Machine Tool listed company, its net profit surged from 4.58 million yuan in 2002 to 133 million yuan in 2006, and then suddenly fell to only 21.19 million yuan in 2008. According to the company’s latest 2009 annual report, it achieved a net profit of 27.04 million yuan last year (as analysts pointed out, this is based on non-recurring gains and losses such as debt restructuring income and government subsidies, if deducting non-recurring gains and losses, Its net profit is -25.48 million yuan, and the profit situation is still not optimistic.
This is in stark contrast to the other two listed companies in the machine tool industry, Kunming Machine Tool and Qinchuan Development: it was also affected by the financial crisis. In 2009, unlike the loss of Shenyang Machine Tool, Kunming Machine Tool deducted non-recurring After the profit and loss, the net profit rate still reached 14%, Qinchuan development also reached 8%, and since 2002, even in the best years, Shenyang machine tools have a net profit margin of 3%, which is quite a "small profit"!
In 2008, the total profit target of Shenyang Machine Tool at the beginning of the year was 210 million yuan, but the actual completion was only 60.85 million yuan (less than 30% of the target value); in 2009, its total profit target was lowered to 120 million yuan, and ultimately only Completed 98.29 million yuan (82% of the target value). It is not difficult to see that on the issue of profitability, the largest machine tool company in China has been somewhat incapable. The problem is that the industry leader - the world's fifth-ranked, has won the China Industrial Award, enjoys the title of "National Innovative Enterprise", has repeatedly filled the domestic gap, and has a monopoly advantage in some product areas - why not make money? ?
There may be many reasons. In our opinion, the main thing is probably the following two points:
First, in 2004, Ram Charan called for companies to pursue quality growth in the book Growth Power. The so-called high-quality growth is mainly reflected in the simultaneous and continuous growth in revenue growth, profit growth and cash flow from operating activities. Investigate the changes in these three indicators in the past five years of Shenyang Machine Tool listed companies: operating income continues to increase, net profit declines rapidly, cash inflows from operating activities continue to shrink, and even net cash outflows have occurred for three consecutive years. This shows that Shenyang Machine Tool lost its cost control in the process of pursuing scale expansion, and its operational efficiency declined. The cost of its growth is high.
The famous economist Lang Xianping once pointed out that Chinese enterprises can't be bigger and stronger, but Chinese enterprises can easily get out of control as long as they become bigger and stronger, which will cause the company's follow-up operations to be in trouble. Companies that have problems in this area are too numerous to enumerate. The advice he gave was that companies must “excelerate and control costs†in the process of becoming bigger, otherwise it would be difficult to be strong.
Secondly, comparing the gross profit level of Shenyang Machine Tool, Kunming Machine Tool and Qinchuan Development, the three machine tool listed companies in recent years, Shenyang machine tools are around 17%, Kunming machine tools are around 35%, Qinchuan development is around 25%, which is certain The extent reflects the different development paths and competition strategies of the three companies. Shenyang machine tools started from ordinary lathes, drilling machines and boring machines. Although these general-purpose products are large in quantity, due to fierce competition and serious product homogeneity, gross profit margins are generally not high. Especially after CNC machine tools gradually established the status of mainstream products in the market, this seems to be the shortcoming of Shenyang Machine Tool “Difficult to turn aroundâ€.
In contrast, the Kunming machine tool, known as the "é•— milling family", Qinchuan development of the grinding machine is second to none in the country, this fine and specialized product positioning, although they are unlikely to achieve the same size as Shenyang machine tools, but the goal The strategy of gathering has given them a relatively high level of gross profit.
For Shenyang machine tools, the most direct and effective way to increase gross profit margin is to increase the proportion of CNC machine tools in production and sales. In recent years, it has indeed made great efforts in this respect, and has achieved great results; but as of now, the proportion of ordinary machine tools in its total revenue is still as high as 40%. Product structure adjustment has not kept up with changes in market demand and has become one of the bottlenecks restricting the development of Shenyang machine tools.
If we take a slight view, we will find that many leading manufacturing companies in China have faced the trap of “bigger†in the long history of China (and of course enjoy the thrill of “biggerâ€). : Large-scale expansion of production - low-cost competition to seize market share - the establishment of a huge corporate empire - the cost has risen sharply, gross margins have fallen sharply - corporate losses or even bankruptcy. Liu Chuanzhi told us about the "winter" of rising Lenovo's share and falling gross profit. Zhang Ruimin once described Haier as "one meter and eight", but malnourished and weak, "cannot compete and compete with others." The solution lies in the transformation and upgrading of enterprises to jump out of the past model and enter a new higher level cycle. We have seen their hard work in doing so. Including Li Shufu, he is trying to achieve a great leap in Geely through radical internationalization.
As mentioned earlier, as early as 2004-2005, when M&A was heavily implemented, Shenyang Machine Tool’s concerns about its own development path have already emerged, and its choice of M&A objects: German Heath – has a history of 140 years, The world-famous heavy-duty machine tool manufacturer, Yunnan CY Group - "China's machine tool industry gold export base", Kunming machine tool - known as the "镗 milling family" market segment leader, it is clear that these acquisitions are not for simple scale expansion, It has revealed its clues to "product structure adjustment" and "market structure adjustment".
In 2006, Shenyang Machine Tool moved to the new plant area as a whole. Then, in 2007, Shenji seized the opportunity of relocation and carried out a “reform and re-engineering in the history of Chinese industry†(Chen Huiren, former chairman of Shenyang Machine Tool). At the beginning of 2008, Chen said at the annual managerial meeting of Shenyang Machine Tool: “It must be acknowledged that the development of Shenyang Machine Tool in the past few years is based on the development of scale expansion. In contrast, the quality and efficiency objectives are in the second place. To be at the level of one level, this mode of development is unsustainable.†“Transformation†has been established as a new theme for the development of Shenji in the next few years. However, what surprised the outside world was that after a few months, Chen immediately went to work without any warning.
Late Transformations For a long time, we have been using scale advantages to avoid change... it is like thinking about small businesses.
- Ford Motor Company Chairman Bill Ford
Regarding the resignation of Chen Huiren, Shenyang Machine Tool has not been as deep as ever. It is widely believed that this is related to the fierce contradiction caused by Shenyang Machine Tool in the process of selling shares to foreign investors. In April 2007, Shenyang State-owned Assets Supervision and Administration Commission issued a 49% stake in Shenyang Machine Tool Group. In June of that year, it was reported that JANA, the US hedge fund, would receive a 30% stake in Shenji Group. This foreign acquisition was prolonged and eventually abortion was announced in October 2009. In November 2009, the Shenyang State-owned Assets Supervision and Administration Commission once again listed the 30% equity of Shenji Group, but suffered an embarrassment that was delayed and no one was delisted. This highly-recognized restructuring has not yet been completed.
What is not well known to the outside world is that the overall relocation in 2006 and the reorganization of the reorganization in 2007 caused great confusion and even confusion within the Shenyang machine tool, which led to a passive situation in its production and operation. To some extent, this is one of the direct reasons for the sharp decline in the profitability of the machine in 2007 and 2008.
It is understood that before moving into the new park, the four mainframe factories of Shenyang Machine Tool basically operate independently. After moving into the new park, after the “reconstructionâ€, the four mainframe companies were reorganized into 11 new mainframe business units, and functions such as financial funds, procurement and external resources, and human resources were separated from the corporate units and concentrated in the group headquarters. The core business functions of the department are positioned as R&D, marketing and product integration manufacturing processes. The original intention of this design is to reduce the redundant configuration of resources and maximize the advantages of group concentration.
However, the result of the operation is very problematic: as the business entity of the company, the business department must face the complicated and uncoordinated instructions issued by the large organizational system on the one hand, and the powers of people and property that should be enjoyed on the other hand. The enthusiasm and initiative are severely constrained; each business unit only pays attention to the output and output value, and cannot control the cost; there is no effective cooperation between the business divisions, and the procurement supply and production demand are out of line; the organization operation efficiency is low, and the market and service customers cannot be responded to in time. .
In the end, this "breaking down the structural system and business processes that have been accumulated over the past few decades", "the change that led to the complete elimination of the management experience of every manager" (Chen Huiren), with Chen’s resignation And stop. In June 2008, after Guan Xiyou, the general manager of Shenyang Machine Tool, became the chairman of the board, he immediately raised the scalpel for this highly centralized management system. The power of people and property returned to the operating entity, while streamlining the organization and optimizing the process. The Ministry urgently needs a key purchased part, which has to go through the approval and balance of the logistics platform and financial platform of the Group's headquarters. The link is complicated, and after the division is divided according to its actual situation, the process is at least “shortâ€. /3 to 1/2.
At the age of 44, Guan Xiyou was a veritable young man. At the age of 33, he became the general manager of Zhongjie Friendship Factory. At the age of 38, he became the general manager and vice chairman of Shenyang Machine Tool Group. In 2001, he led the Zhongjie Friendship Factory to win the bid for the Shanghai Maglev high-speed train track processing equipment project. In just six months, he successfully completed the task that many people thought was impossible, and laid the groundwork for it in China. The status of the industry.
As Shenyang Machine Tool entered the “Chong Xiyou eraâ€, according to its employees, “the company’s weather is one of the changesâ€. We seem to be able to see some of his differences with his predecessor from his first speech to the company manager after he took office. In this short speech, there are three requirements for the work style of managers at all levels: first, less notice or no notice; second, less punishment, more incentives; third, caring for employees ,From the little things. According to people close to Shenyang Machine Tool, Chen Huiren is majestic, and Guan Xiyou is very friendly. For the latter, the reporter has fully felt during the interview process; while the former, the reporter has never interviewed Chen Huiren and did not dare to comment.
Guan Xiyou once said that if the company is likened to a ship, I am not a captain or a helmsman. I have positioned myself as the functional designer of this ship: for example, if we are going to a scientific investigation, I will arrange the function of breaking ice and go to war. I will arrange rockets and missiles. Undoubtedly, since he took office, the most arduous and urgent task in his desk is still transformation – what function will he design for the big ship of Shenyang Machine Tool?
Today, the goal of Shenyang Machine Tool to become the world's number one in 2015 has already shown the world. If it is based on scale, as some foreign counterparts predict to Guan Xiyou: "You can do it in 2012." Shenyang machine tools have great experience and inertia. But this is obviously not what Guan Xiyou wants: the real world first, not only has scale, technology, brand, business philosophy and business model, but also one can not be less, but also has a leading role in the industry, which means "not only Be big, and be strong."
How to climb the peak?
We don't want to be the world's boss,
However, we are already on the road to the world's boss.
-- Sun Yafang, Chairman of Huawei. Although the industry is constantly questioning, Guan Xiyou told China Electromechanical Industry that within the Shenyang machine tool, "no one employee suspects that our goal cannot be achieved."
The bottom gas comes first. Shenyang Machine Tool has been betting on the road of technological innovation for a long time. It is gradually becoming a big success. According to him, at present, "we are in the eve of the breakthrough of key technologies."
The pain of technology, I am afraid that Shenyang machine tools and even the entire Chinese machine tool industry can never be forgotten. We have gone through a long period of market-changing technology, but in the end we found that this road is not feasible. Due to the lack of self-innovation ability, we introduce a generation, behind a generation, how to imitate how not, Guan Xiyou said that the biggest gain at that stage is to let us know the gap with the world's advanced level.
Without core technology, it is almost impossible to move internationally. Guan said that I was motivated by the boss. At the 2003 International Machine Tool Show in the United States, Shenyang Machine Tool was arranged in the basement to ask people if they could go to the hall. People answered that you still have no qualifications, and you can't give money. The taste that has been despised is so far in the throat.
After more than ten years of technical research and development, Shenyang Machine Tool only realized in the past few years that the original number of roads was wrong. It can only be considered as design, not called R&D; in fact, it is not the drawings, nor the so-called technical know-how. It is technical optimization. For example, a new product project in cooperation between a machine and a German university, the product prototype came out, but did not meet the design goals, what is the reason? Just go to other people to optimize, Guan Xiyou said, for example, to give people a comprehensive MRI, the machine is starting up, there are several computers on the other side showing the various states of the machine, there are problems here, there are The problem, then give you the solution to optimize the solution. However, the project was not finished, and it was stopped by the German government. Because the competitors were anxious and ran to complain, the relevant organizations also proved that the research may have the birth of basic technology and key common technologies, thus arming Chinese enterprises with German technology. .
Guan Xiyou said that one of the reasons why German manufacturing is so developed is that its entire socialized research system is too perfect. After returning to China, he visited some universities and research institutes in China and found that the gap between us and others is very large. Some things are urgently needed by the industry, but enterprises can't do it. We can't raise so many professors and customs, but companies, especially leading companies, have the responsibility to participate and make their own efforts. In recent years, Shenji has done a lot of work in the combination of production, study and research. Recently, Tongji University has been jointly established with Tongji University - Shenyang Machine Tool Research Institute.
Since the road of technology introduction is nowhere to go, Shenyang Machine Tool has accelerated the pace of independent innovation. This process is very painful. Guan Xiyou said that the first is a large-scale investment, and the pressure is great. Secondly, how to cultivate and retain talents is also a very troublesome issue. For example, after moving into the new factory area, it was determined to engage in control system software. Before that, Shenyang Machine Tool had hoped to buy it with foreigners. People had a high price of 60 million euros, and some experts pointed out that even if they bought it, they should be able to understand the need. In the past five years, I have understood that I will change it. I have to wait two years. But to do it yourself, the early suffering is huge. Not only do you have to raise a large number of development teams with high salaries, the investment is very high every year, and it is not like building a house. You can see how high it is every day, because what they finally took out is a piece. CD. Finally, this team has made achievements since last year.
In the process of independent innovation, Guan Xiyou summed up two things: First, compared with the R&D process, the results of R&D are not the most important. Because even if this product development fails, new technologies will be generated throughout the process, and new experiences will be accumulated. These technologies and experiences can be applied to other products to improve your overall level. Second, we must pay attention to the construction of research and development systems and platforms. A sentence from a high-level Siemens company has impressed Guan Xiyou. He said that Siemens is not a product, it is a human being.
After the financial crisis, Guan Xiyou strengthened his judgment on the two major development trends of the world machine tool industry: First, the world machine tool industry is accelerating the transfer to China. In 2009, China became the world's No. 1 machine tool producer for the first time, and for the first time surpassed the US to become the world's No. 1 automobile production and sales country. This is an important sign that China's industry has entered a period of upgrading and rapid development, which provides domestic machine tool enterprises with A rare historical opportunity; second, modern manufacturing technology has made tremendous progress in the past decade. From the current point of view, it is unlikely that revolutionary changes will occur in the future for a long time. The world's major machine tool manufacturers have obvious technology. Convergence, homogenization competition is becoming more and more serious, which gives latecomers a chance and space to catch up.
In addition, Chinese companies have an important advantage, that is, low labor costs. Guan Xiyou has calculated an account. At present, the world's two major machine tool powers - Germany and Japan, labor costs account for 30% to 35% of the total cost, while China's highest is only 8%, which means that Chinese companies have at least 20% or more. Cost advantage. What we lack is still technology, management and brand.
The problem has settled on the transformation and upgrading. Shenyang Machine Tool has proposed that it is necessary to completely eliminate ordinary machine tools in the next three years. The specific method is to transfer the production of ordinary products through OEM. It is understood that, like Shenyi Lathe Factory, an OEM special implementation team was established in early September last year. At the end of December, the monthly output of its OEM machine tools reached 1,200 units. However, considering that the proportion of ordinary machine tools in the production and sales of Shenyang machine tools is still as high as 40%, this is undoubtedly a huge challenge.
With the elimination of ordinary machine tools, the CNC machine industry park of Shenyang Machine Tool Co., Ltd. will mainly produce five new series of products that use the latest technology and developed for the international market: new trampoline series, new CAK series, new HTC series, Xinlijia series and New bedroom plus series. The development of this new five-category product reflects an important product strategy of Shenyang Machine Tool: “Low cost, internationalizationâ€.
In Guan Xiyou's view, there is a break in the product hierarchy of CNC machine tools in China and the world. "The value is equivalent to a gap between 30,000 and 1 million. There must be a generation of products in the middle," he told China's electromechanical industry. "The new five products of Shenyang Machine Tool are to fill this gap. Therefore, we are not targeting the world's top products and technologies, but are market-oriented and provide the most cost-effective products for domestic and international customers."
At present, Shenyang Machine Tool is committed to building a new supply chain in the upstream of the industrial chain, using its own scale advantage to bundle the world's high-end supply chain system to create a boutique host; in the interior, it is vigorously promoting lean production, while promoting manufacturing, while rapidly promoting the enterprise R&D and service transformation, and began to lay out the global marketing and service system; finally, in the role of the market, Guan Xiyou hopes that Shenyang Machine Tool will present in front of customers not “selling products†but “cutting expertsâ€, “to let customers If there is a processing problem, I think of the Shenyang machine tool."
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