memory manufacturer Wanghong formed an army in 1989 and was extremely glorious at the beginning of its establishment. However, after entering the second 10 years, Wanghong founder Wu Minqiu left the battlefield due to heart problems, the company fell into a trek and unexpectedly fell to a trough. In 2002, it even lost 10 billion yuan a year and encountered a survival crisis. Seeing Wang Hong's death and Wu Minqiu recovered from a serious illness, he decided to return to the world. Not only did he miraculously bring the company back to life, but he has also occupied a place in the Flash Memory market so far, and NOR Flash's market share is the world's number one. One of the key strategies that he can turn the world around is "jumping innovation".
Biography of Wu Minqiu, Chairman of Wanghong, "Biography of Wu Minqiu - From Zero to Excellent Knowledge and Planning" is on the market. (Source: Provided by the industry)
"If the company grows steadily, it may be able to set goals in sequence, but Wanghong was a laggard at that time, and its products had lost their competitiveness. Many technologies must be developed in a leap-by manner." Wu Minqiu mentioned the current situation in his new book "The Biography of Wu Minqiu: From Zero to Excellent Knowledge and Planning", which is so bad that many people in the park think that Wanghong is going to disappear, but the laggard must be bolder and more innovative than the leader. He must transcend existing technologies and existing competitors and directly think about the market competitiveness in five years in order to survive.
Hong Junxiong, currently the vice president of Wanghong product design and engineering development, participated in Wu Minqiu's jumping innovation plan. He recalled that at that time, Wu Minqiu asked not only to reduce costs, but also to increase market value. Neither the market nor the cost side could just improve slowly. There must be a jumping improvement, because Wu Minqiu believes that following the steps is useless, and it will only get farther and farther away. In the end, it will be dead. If you have competitiveness, you must "jump" the process to surpass it.
Wu Minqiu's so-called process skipping is to skip over 50 nanometers, jump directly from 75 nanometers to 36 nanometers, then jump from 36 nanometers to 19 nanometers, and then to 3D. This goal was initially scared everyone, but Wu Minqiu was confident, "There is one advantage of lagging behind, that is, competitors have helped you prove a lot of things. Doing things that the other party has not done yet is called research and development." During that time, the lifestyle of going to work at the company at 5 a.m. and leaving until late at night has become his daily life.
In addition to jump-and-see innovation, Wu Minqiu has also set out three "Focus" plans. The first Focus is to make sure that each person can only participate in two projects at most, re-examine more than 80 projects, and require internal rethinking the purpose, competitiveness and other aspects of the project, and properly arrange resources; the second Focus is to focus on memory and protect Wanghong's most precious and largest assets; the third Focus is to focus on only one specific goal every year from 2003 to 2005, and focus on only one specific goal every year, concentrate firepower on R&D, sales and other aspects, and strive to do its best.
Wu Minqie made drastic reforms and refocused on the R&D direction, Wanghong's operations gradually improved. Since 2003, losses gradually converged, and by 2006, they turned to profits. The revenue scale has also hovered around 20 billion yuan since the original period, and since 2006, it can exceed 20 billion yuan every year and return to profit track. Last year (2021), Wanghong seized the opportunity of semiconductor shortage and broke through the 50 billion level in one fell swoop, writing down the best results of the past years with annual revenue of 50.6 billion yuan and pure profit of 12 billion yuan after tax. Recalling that Jedi rescue experience, Wu Minqiu still feels a lot compared to the present.
"At that time, many people in the science park thought that Wanghong was missing, but I founded Wanghong and couldn't watch it disappear!" Wu Minqiu said that many famous Turn Around experts in the United States hired them to rescue the company when they had problems, but the practice was to cut off all R&D and unprofitable products. The company closed down a few years later because there were no new products. This time, the firefighting also taught him a great lesson, which was how to make good things with jumping thinking, "We must find a way to understand the real cause and solve the problem."
Wu Minqiu said that the first and second decades each have their own difficulties. The first year is starting a business. Everyone feels good. The second year is losing money. Everyone is frightened by the loss every year. The two processes make him clearer about how to manage and build confidence. "Smart people need stupid people to take care of. When I prove that I can do it, smart people believe that work is valuable. Only by sacrificing themselves can they see "I am with you". Everyone bears different responsibilities but everyone is equal. I also want to instill such concepts for colleagues."
Wanghong's second decade went relatively turbulent, and in the third decade, it not only turned from loss to profit, but now it has firmly stood firm in the ROM and NOR Flash markets. In the fourth decade, Wu Minqiu believes that the most important thing is what to do, and he also hopes to convey the concept to the internal, "because of their efforts (referring to employees) to make the company better." When talking about the next layout, he humorously said that many things still have to be hidden, but he must be the first in doing things. "People say that there are a few knives, and I must prepare more knives."
"Wu Min Queue Biography - From Zero to Excellent Knowledge and Scheme"
"Wu Min Queue Biography - From Zero to Excellent Knowledge and Scheme" new book is on the market!
Editor: ECHO
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