"Fertilizer King" Stanley (002588) ushered in a new "head", and a long-distance handover that lasted for 20 years has finally settled. On August 19, Stanley issued an announcement stating that according to the resolution of the first extraordinary meeting of the sixth board of directors, the company elected Gao Jinhua as chairman and legal representative of the company, with the same term as the current board of directors.
Stanley has always focused on the research and development, production and sales of compound fertilizers. After experiencing a period of rapid development and adjustment, the compound fertilizer industry has now entered a period of transformation and development.
Judging from Stanley's financial reports in recent years, its operating income has been hovering around 6 billion yuan. The 45-year-old Gao Jinhua has 20 years of experience in the fertilizer industry. After officially taking over, he will take the helm and bravely break through the previously set revenue goal of "10 billion in five years".
20-year handover "long-distance race"
When people think of Stanley, the first thing that comes to mind may be the slogan "Yellow soil and black soil, use Stanley for fertilization", and this catchy sentence comes from its founder Gao Wenban .
Gao Wenban once started with two or three shovels and three or four woven bags, and led Stanley to create the myth of the compound fertilizer industry. He was born in 1948. He was born as a farmer and became a householder at an early age. He first tested the waters in a small business and developed a keen business sense. After discovering the business opportunity of agricultural fertilizers, Gao Wenban went ahead and bought the raw materials and "mixed them" himself, thus embarking on the road of entrepreneurship.
In 1992, Gao Wenban established the first compound fertilizer production enterprise - Huafeng Fertilizer Factory (the predecessor of Stanley) in Linshu County , driving Linshu County to enter the compound fertilizer industry. Under the leadership of Gao Wenban, Stanley developed more than 60 varieties of compound fertilizers in three series: high, medium and low concentration within one year. Among them, high-concentration compound fertilizer also won the "First Prize of Shandong Province Technological Innovation Award".
In 2004, Stanley entered the ranks of "China's Top 100 Fertilizers". The company pioneered the domestic high-tower melt granulation compound fertilizer, which was also regarded as a milestone event that promoted Stanley's rapid development. In 2003, Gao Wenban, under great pressure, made the decision to jointly challenge the high-tower compound fertilizer production technology with the Shanghai Research Institute of Chemical Industry. The
high-tower melt granulation compound fertilizer production line has brought a qualitative leap to Stanley. "Before this, our annual sales revenue was only more than 3 billion, and we encountered a 'ceiling'. But now, we are more than 3 billion, and the growth rate is still very large." Gao Wenban once said in a media interview that at that time, Stanley led the latest manufacturing technology of domestic compound fertilizer production with the world's most advanced high-tower compound fertilizer production process, which led to the rise of more than 200 high-tower compound fertilizer companies in China like a prairie fire.
At that time, Gao Jinhua also participated in the research of this technology. As early as 2002, Gao Jinhua entered Linyi Huafeng Fertilizer Co., Ltd. and worked step by step. He successively served as assistant to the general manager and general manager of the company, promoting and witnessing the development and growth of Stanley.
Resume shows that Gao Jinhua has won many honorary titles such as "Young and middle-aged experts with outstanding contributions to the National Hundreds and Thousands of Talents Project ", "Commemorative Medal to Celebrate the 70th Anniversary of the Founding of the People's Republic of China", "Outstanding Inventor of Shandong Province", and enjoys the State Council's special government allowance. In addition to overcoming technical difficulties with
, Stanley also began to pay attention to the construction and operation of the brand, and Gao Jinhua led this work. In 2004, the younger generation Gao Jinhua took aim at the advertising opportunity of CCTV's "Weather Forecast" and said that when he went to rural areas for research every year, he found that CCTV's "Weather Forecast" was a program that farmers often watched. Relying on advertising, Stanley's brand influence has been further expanded.
In 2011, Stanley successfully landed on the Shenzhen Stock Exchange, opening a new chapter in the development of the capital market. Stanley has been upgraded from a small rural workshop to a leader in the field of agricultural inputs and fertilizers. Stanley's magnificent transformation is inseparable from the innovation and efforts of two generations.
Challenges on the road to industry transformation
has been on the market for 11 years, and Stanley's development scale has continued to expand.According to the official website, the company has built 12 major production bases in Linshu and Plains of Shandong, Fuyu of Jilin, Guigang of Guangxi, Dangyang of Hubei, Ningling and Suiping of Henan, Fengcheng of Jiangxi, Dingxi of Gansu, Luntai of Xinjiang, Longhua of Hebei, and Songzi of Hubei, with an annual production capacity of 5.32 million tons.
Moreover, Stanley has also established more than 3,000 sales and service providers and more than 100,000 sales and service outlets in 31 provinces, municipalities and autonomous regions across the country, achieving an overall layout of R&D, production, marketing and service across the country.
Stanley's 2021 annual report shows that Stanley achieved operating income of 6.435 billion yuan in 2021, with a year-on-year growth of of 4.09%. Judging from the comprehensive financial report, the year of listing was the year in which its revenue and net profit increased the most. In 2011, Stanley achieved operating income of 4.569 billion yuan, a year-on-year increase of 57.50%; net profit was 245 million yuan, a year-on-year increase of 39.62%.
Among them, in 2015, Stanley's operating income reached 7.047 billion yuan, a year-on-year increase of 24.64%; net profit reached 620 million yuan, a year-on-year increase of 25.23%. This was also Stanley's best year. In the following six years, Stanley's operating income has hovered around 6 billion yuan.
Stanley’s performance growth problem is actually closely related to the development of the industry. After the supply-side structural reform of , small and medium-sized enterprises in the industry were gradually eliminated, excess production capacity was gradually cleared, and the industry competition pattern gradually transitioned from competition between large enterprises and small and medium-sized enterprises to competition between large enterprises, and the compound fertilizer industry gradually entered a mature stage.
In this regard, Stanley stated in the 2021 annual report that the competition among compound fertilizer companies will be comprehensive competition, and it will be competition between comprehensive leading companies. Stanley will continue to improve its comprehensive competitiveness through various measures such as expanding the upstream and downstream industrial chains, reducing production operating costs, improving research and development capabilities, improving product structure, consolidating brand influence, deepening channels, and improving agrochemical services.
It is worth noting that Stanley will extend the industry chain to the upstream of as one of its important development strategies. It is understood that Stanley has entered the phosphorus chemical industry through mergers and acquisitions, joint ventures, cooperation and self-construction, and established a phosphorus chemical- phosphate fertilizer -compound fertilizer industry chain. According to Stanley's announcement on June 30, Stanley will use its holding subsidiary Songzi Stanley Yihua New Materials Technology Co., Ltd. as the project implementation entity, investing 4.47 billion yuan to build the new energy material precursor iron phosphate and supporting projects in Songzi City, Hubei Province, deeply coupling the new energy materials industry with the phosphorus chemical industry, and through the phosphorus chemical industry Preparing and purifying phosphoric acid to produce iron phosphate, the precursor of new energy battery cathode materials, and supporting flame-retardant fire-fighting materials, water-soluble fertilizers, and special fertilizers. We will promote the development of new energy materials business, fine phosphorus chemicals, and new fertilizer businesses with the circular economy development model, and realize the strategic layout of Stanley's phosphorus chemical industry chain.
Compound fertilizer demand and price fluctuations are deeply affected by the upstream and downstream. Expanding the phosphorus industry chain can be said to be an important measure for Stanley to achieve the "five-year 10 billion" goal of the fertilizer sector. At the end of June this year, Gao Jinhua said at Stanley's 2022 mid-year operation and management meeting that "the road to victory is to have no retreat, big changes, and win the changes." "The company will deploy phosphorus chemicals, open up the industrial chain, develop new energy, and create a Stanley in three years."
Stanley is also constantly increasing the proportion of commercial crop fertilizer and horticultural fertilizer business, focusing on horticultural fertilizer business both online and offline, continuing to expand online platforms, and improving the number and quality of offline outlets.
Now, Stanley has also entered his thirties. Faced with risks such as fluctuations in raw material prices, changes in agricultural policies, and repeated domestic epidemics, what kind of answer will "second-generation leader" Gao Jinhua hand over? We'll see.
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