How Did The Old Boat Create A Sea Myth?

Caption: sewing machine for Shen Bei car dashboard

11 years ago, it was a continuous loss. It was supported by land sales and old factories.

Today, Shang Shang Bei group Limited by Share Ltd, the old state-owned enterprise in Shanghai, relies on the courage to fight against war, and becomes the world through cross-border mergers and acquisitions.

Industry giants, production and sales scale is the first in China.

At present, Shang Shin net assets are about 2000000000 yuan, and the asset liability ratio has dropped from 74% to 35%. There is no money in the country and 1 billion yuan in cash.

11 years ago, he bought DA, a German sewing giant, and then led DA to beat Bai Fu.

Shang Gong bought Bai Fu again.

Pak Fu has always been the boss of the European sewing industry. DA is the second year, and the two German companies have been playing for 150 years.

Under the unification of Shang and Bei, the end of a hundred years of resentment turned into a sister enterprise and a sensation in the industry.

It is amazing that Shin Bei, who completed such a pioneering effort, was still losing money 11 years ago, which was supported by the sale of land and old factories.

Nowadays, the crow becomes Phoenix, and becomes the world's sewing machine industry giant at the same time. The scale of production and sale is the first in China.

At present, Shang Shin net assets are about 2000000000 yuan, and the asset liability ratio has dropped from about 74% to 35%. There is no money in the country and 1 billion yuan in cash.

Aman Chang, chairman of Shanghai Shenbei group, said that at the time, Shen Bei, who was on the brink of life and death, opened the sea merger and acquisition journey with courage.

The small sampan was not overthrown by the wind and waves, and then ate the German 100 year old tycoon. Shang Shang Shen Bei rescued the two old enterprises who were deeply involved in the bankruptcy crisis, and also saved their own sinking.

Over the past 11 years, the industry has invested 12 million 500 thousand euros in Europe, and now its net assets are as high as 80 million euros.

At that time, the purchase price of European company stock rose from 0.14 euros to 22 euros now.

Today, there are 32 subsidiaries and subsidiaries, 15 overseas, and a total of 4626 employees. Among them, about 49% of overseas employees and a high degree of internationalization are rare in state-owned enterprises.

There are many companies that go to sea, but Shang Shang Shen did create the myth of manufacturing overseas mergers and acquisitions.

Snakes swallow elephants and fight at the edge of life and death.

Many people are not sure about Shang Shang Bei, but mention the "Butterfly" sewing machine, which is known to everyone in the 70s and 80s of last century.

"

Shang Shang Shen Bei built a factory in 1965. As an old state-owned enterprise of Shanghai light industry system, it has made brilliant achievements. Its products have been the symbol of Shanghai goods.

But after the reform and opening up, factories were beginning to take the road of "Mai Cheng".

In 2004, Shang Gong Shen Bei ranked the top ten in China's sewing machinery industry.

Losses in successive years can only be maintained by selling land and factories.

Where is the future? Shang Shang Bei is facing the choice of life and death.

Aman Chang said, "in fact, there are only two ways. First, the listed companies are integrated by other businesses, and Shanghai has lost a light industry veteran.

。

The second way, in 2002, has found an opportunity and has always been concerned about the goal of the German century old DA company, which has the highest level of sewing machine manufacturing technology in the world, and also has poor economic performance, and shareholders are reluctant to invest in it again.

{page_break}

At that time, cross-border M & A was still a novelty. Even the government departments were discussing how to approve it, not to mention that Shang Shin was facing a merger of snakes and elephants.

In 2004, Aman Chang, who was in danger, admitted frankly, "it is very troublesome to bring out all the family property and do well. It is very troublesome to do poorly. I am the main responsible person.

After five Board meetings, he finally decided to go out resolutely.

In fact, I did not have one hundred percent of my mind at that time, that is, to try and form a breakthrough.

In 2005, Shang shinvei invested 35 million 950 thousand euros in the acquisition of DA94.98% shares in the way of debt based investment, and with the help of DA's high-end technology and products in the field of industrial sewing, through the dual integration of technology and market at home and abroad, it broke the trend of many years in a single stroke. At present, the sales revenue in Europe reached 180 million euros, with a net profit of 25 million euros.

From 2005 to 2013, Aman Chang was called the "8 year war of resistance", that is, integrating DA and Eurasian linkage.

At the same time, Shang Shang Shen Bei began to streamline policies and reorganization and integration, split 6500 employees, and close more than 60 write off enterprises.

By 2013, the strength increased, including capital and profitability in the entire industry sewing machine industry has been in a very leading position, the company's enterprises are turning around.

At this time, under the integration of SHINBUN, DA's rival, 100 Fu, has been beaten up and down, and is on the verge of bankruptcy.

Shang Bei Shen Bei took advantage of the situation and won 100 blessings in 2013.

The end of DA and hundred hundred years of struggle.

In the same year, he bought a 50 year old German family business, Kell man special machine maker (KSL), to acquire high-end product technologies including 3D sewing robot and program-controlled pattern machine with rotary head.

In August last year, Germany invested 28 million 500 thousand euros to win the H.Stoll26% stake in the world's largest weaving machine manufacturer, a century old shop.

So far, a complete automatic industrial sewing equipment technology has been constructed to achieve the height of borrowing ladder.

It has formed DA, 100 Fu, KSL and other brand echelons. It has maintained the global leading edge in many fields such as 3D sewing robot, automatic sewing unit, medium thick sewing machine, shoe maker and so on, providing automatic sewing equipment for almost all luxury companies in Europe.

All the mid and high-end car seats in the world are sewn by the sewing machine of Shing Bei's top brand 90%.

At the same time, after cutting into aerospace, almost every aircraft manufacturer in China bought sewing machine for Shangbei Shenbei.

Advanced research and development is faster than our competitors.

More than ten years' journey, how can we create a sea going myth by the old dilapidated boat of Shenbei? Aman Chang said that enterprises are always on the road, every day is doing thin ice, and doing things with fear.

Aman Chang said that the most fundamental thing in manufacturing industry is product innovation.

At the same time, as a listed company, it should make full use of capital innovation, and the business model needs innovation, which needs to cater to the changes in the market.

Mergers and acquisitions are the Long March, and the integration is the beginning of the long march.

First of all, in R & D, the acquisition of so many enterprises must do well in the division of labor and work in accordance with its own core competitiveness.

"Who will do what? He will give more patents to us, and then let other enterprises can not repeat their labor. The technology can be exchanged with each other, and the competition is not allowed inside. This leads to the formation of more than one group of technology centers for the R & D strategy, leading four Eurasian development centers, resource sharing and collaborative development.

After researching and developing M-type platform and putting into commercial production, DA has not only developed a new generation of H-type thick material machine, but also made initial success in developing modular thicker machine, made new breakthroughs in sewing automatic sewing unit, and made progress in the research and development of automatic sewing unit for denim clothing. KSL is the world leader in lightweight carbon fiber sewing technology and 3D sewing and cutting process automation.

More importantly, these R & D is ahead of the market.

Aman Chang said, at that time, Japan, including domestic competitors, was still fighting in the single garment factory. A machine and a female worker were single machines.

The so-called special machine, is to make every process of clothing design into a special action, make it form semi automation, make the clothing durable, bags are more beautiful, LV, Chanel and other luxury brands are from the Shang Sebei sewing machine.

{page_break}

When the opponent came up with a special machine, it was just a financial crisis at that time.

Last year, the industry dropped by 20%, and Shang Shang Bei was still profitable because it had gone through a road of automation.

Aman Chang disclosed that now the company has shifted its energy to three new and new materials, the representative is carbon fiber; new technology, all the craft is not only sewing, actually sewing is a connection, one is automation, the other is connection, apply these technologies to the actual production.

In addition, targeting new industries such as aircraft, especially in the next 10 years in China, aircraft manufacturing will replace the development of automobiles.

At the same time, the company's "industry 4" has begun to go down to earth.

At present, the sewing robot for Shang's Shenbei used for aircraft carbon fiber composite parts is priced at 15 million yuan.

Aman Chang said that the company has started research and development from 3D to "industry 4", and I call it AMS.

A is automation, M is modularization, S is intelligent, and AMS has industry 4.

Tian Ji racing, shopping malls as battlefields

Aman Chang said, if the acquisition of production base, let it develop separately, there will be no synergy.

Only integration can make M & a play the role of 1+1>2.

At that time, Shang Shang Shenbei graded the layout of European factories according to the level of human resources.

All the spare parts are purchased from China and manufactured in Romania; Czech factory is the integration of sewing machine head and German factory assembly, and the last OEM "MADEINGerman".

Integrating brand is also a question of University.

"The brand developed by acquisition and merger must be collate and make a provision for these brands, otherwise the competition among brands will produce internal friction."

If each enterprise is allowed to make their own decisions, they must fight each other.

There must be an integration, all sales to platform management.

In the market, Shang Shang also started business competition with Japanese heavy machinery.

Aman Chang used the "Tian Ji race" strategy, using the "superior horse" automatic sewing unit against the middle horse in the Japanese system, and using the "medium horse" medium thick sewing machine to fight against the inferior horse in Japan.

A standard sewing machine for the "top class horse" in Japan.

Only the reformers are the only innovators, but the innovators of reform.

The Phoenix Nirvana journey to Shenhai Bay is undoubtedly a vivid lesson for the current cross-border mergers and acquisitions of enterprises.