Entrepreneurship success is difficult,
but failure is easy!
He was once a top international scholar, a leader in China's photovoltaic industry.
In just 5 years,
The company has become the top three photovoltaic companies in the world, and
He has also become the richest man envied by more than one billion people!
can spend $200,000 to charter a flight to a meeting,
can buy 10 luxury cars for yourself,
can have dinner with the US vice president,
can talk about cooperation with the British prince,
can stand out as a hero, few people can compete with!
However, after another 7 years,
lost all his wealth of 18.6 billion and fell from the altar.
He is the founder of Wuxi Suntech Solar Power Co., Ltd.
. Shi Zhengrong
00000s from the richest man in the mainland to penniless. Who is wrong with the ups and downs of
12?
01
01
00 a mountain village boy counterattacked international scholars and richest man
5 years of wealth of 18.6 billion yuan, and was known as the "people who save the earth"
1963, Shi Zhengrong was born in a small village called Taiping Village, Jiangsu. When he was born, he discovered that his mother had twins. He was younger brother. At this time, he had two children at home. With them, the four children were too burdened with the family. It was still a period of natural disasters. There was no way, so the family gave him to the Shi family, who had just given birth to a stillbirth.
Shi Zhengrong has been sensible since he was a child. He has helped his family work since he was 6 years old. His adoptive parents also love him very much. Although his family is poor, he has always supported him to go to school.
In the university, Shi Zhengrong's intelligence was fully utilized. After finishing his undergraduate degree in Changchun Science and Technology , he obtained his master's degree from the Chinese Academy of Sciences. Two years later, he studied abroad at the University of New South Wales, Australia for public expenses and studied under the Nobel Prize winner Professor Martin Green.
During his study abroad, he perfectly obtained his doctorate with polycrystalline silicon thin-film solar cell technology, and became the first person in the world to overcome how to grow silicon thin films on glass. At the same time, he also held more than 10 patents for solar cell inventions in his hand. has become the executive director of Australia Pacific Solar Power Co., Ltd.
If this continues, Shi Zhengrong will definitely have a place in the international academic community, and even the Nobel Prize is not impossible. But in September 2001, the government of Wuxi City visited Australia to look for projects that are both high-tech and high returns. At that time, the country was encouraging Chinese people to return to China to start businesses. In this way, the government of Wuxi City and Shi Zhengrong got online. After the initial contact between
, the two parties reached an agreement to support Shi Zhengrong in Wuxi. So Shi Zhengrong gave up academic research and returned to China to start a business with a two-year salary of US$400,000.
With the help of the Wuxi Municipal Government, eight local state-owned enterprises invested US$6 million, and Shi Zhengrong's cash and technology estimated at US$2 million. The two parties jointly established Wuxi Suntech Solar Power Co., Ltd. for US$8 million, and Shi Zhengrong served as general manager.
Although the development was not smooth at the beginning, under Shi Zhengrong's internationally leading technology attack, the market quickly opened. By the end of 2004, Suntech Power's production capacity reached 540 megawatts and sales revenue of US$10 billion, becoming one of the three giants in the global photovoltaic industry.
By 2005, Suntech Power soared into the sky and completed privatization with the help of the Wuxi government. On December 14 of that year, it was listed on on , and at the close of the day, it reached US$34.02 per share. Shi Zhengrong has also gained US$18.6 billion, becoming the richest man in China in 2006.
Then, Shi Zhengrong's halo was more and more, and he was awarded the "Special Contribution Award" by the International Photovoltaic Science and Engineering Conference, and was named "Environmental Hero" and "50 People Who Can Save the Earth" by the US Time magazine. Suntech Power is even called "Microsoft in the photovoltaic world", which was very glorious for a while.
02
html lost 18.6 billion in 37 years. Who is wrong?
succeeded too quickly, and failure came quickly. By the first half of 2012, just 7 years after it went public, Suntech Power's stock price fell from the highest $80 to $1, and Shi Zhengrong's value was cleared.
As the darling of the global photovoltaic industry, why did it plummet and develop like this with the world's leading technology?
- industry has rushed forward, and no matter how big the cake is, it cannot be divided into
Suntech Power's success has made many enterprises and governments jealous. For this replicable model of "scientists + local governments + overseas capital", everyone is not stingy, rushing to imitate and rushing forward. At that time, there were 600 cities across the country, and photovoltaic industry and photovoltaic industrial parks were built.
Photovoltaic industrial park in a certain place in China
For a while, China's photovoltaic industry was unprecedentedly prosperous. Among the top ten photovoltaic companies in the world, 5 of them belong to China. The result of this is fierce competition, overcapacity and reduced profits.
Before 2010, the profit of the photovoltaic industry was 139%. After September 2010, the profit fell rapidly to only 20%. The first thing to do is a photovoltaic giant like Suntech Power.
- went upstream, failed to win and defeated, falling from the altar
90% of China's photovoltaic industry relies on imports, and 90% of its products also rely on exports. With overcapacity and price reduction, Europe and the United States and other countries pilot high anti-dumping, anti-subsidy fines and high punitive import tariffs, resulting in a significant shrinkage of Suntech's profits.
plus the financial crisis in 2008, the global photovoltaic industry encountered a cold winter. At this time, Shi Zhengrong did not retreat but advanced and expanded rapidly. By the end of 2011, Suntech Power's bank loans soared to US$1.7 billion.
At that time, the raw material polysilicon was almost in the hands of foreign countries. With the increasing number of photovoltaic companies, the price of polysilicon was also rising rapidly, from more than US$100 per kilogram to more than US$400 per kilogram. The final product price fell rapidly due to overcapacity.
main raw material for photovoltaic products "polysilicon"
Under such circumstances, Shi Zhengrong did not retreat and tried to sign orders with foreign giants. Under Shi Zhengrong's soft and hard work, he signed a ten-year purchase order worth US$6 billion with the US MEMC company . As a result, Suntech Power lost $212 million in this order alone.
- The government leads, and there is too much care, which makes the enterprise develop abnormally
Sunde Electric Power was developed under the care of the Wuxi government. From the initial provision of venues, introduction of funds, guaranteed loans in banks, and later privatization and listing, local governments are present at all times. This makes it difficult for a child who grew up under the government's infancy to withstand the invasion of storms.
not only Suntech Power, but also photovoltaics across the country. In 2011 alone, the national subsidy of solar energy projects was RMB 9.4 billion. Coupled with environmental pollution and other factors, the photovoltaic industry has been developing abnormally since the beginning.
Some media reports: "In a sense, photovoltaic companies "black China's environment" to help European and American countries achieve "green".
- people like to do their own things. Buying 10 luxury cars
There are many factors that have fallen into the sky, and of course it has nothing to do with Shi Zhengrong. Shi Zhengrong is a person who does his own things. He never cares about other people's opinions. On the day of listing, he said to his friends: "From now on, I will never make a penny again, I will spend money."
Of course, he did not make money, but he spent money very well. He once spent $200,000 to take a business jet to attend the Davos Forum, bought himself ten luxury cars, and met different people driving different cars.
At the Suntech Power headquarters in Wuxi, one of the walls is the largest solar cell curtain wall in the world.
Shi Zhengrong is also a person with good face. He had lunch with US Vice President Gore and talked about cooperation with Prince Charles of the United Kingdom. Shi Zhengrong also has a habit of asking executives to speak English as long as there is a foreigner present. In terms of recruiting people, he prefers executives with multinational corporate background and overseas life experience.
While he is high-profile and luxurious, he still has not changed in his work and life. For example, he does not like socializing, does not go to bars, does not play basketball, does not play antiques, and likes to drink with his classmates.
He always said that he is a scientist, not an entrepreneur!
Shi Zhengrong has succeeded and failed, but today he does not judge heroes by success or failure, and he returns from overseas to start a business. From a scientist to a businessman, he has changed himself step by step. Even if the fall is painful, he has written a legend in China's photovoltaic industry. After all, it was him who advanced the development of China's photovoltaic industry by 15 years!
I hope every entrepreneurship will succeed!
I hope every company can develop healthily!
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