1.
"If this matter is not pursued to the end, I am no longer qualified to be the president of SF Express!"
In April 2016, SF Express boss Wang Wei changed from his usual low profile and posted an angry message in WeChat Moments. This harsh word quickly swept the Internet.
Why is Wang Wei so angry?
One day ago, a courier boy from SF Express collided with a car while riding a three-wheeler to deliver goods in Dongcheng District, Beijing. The car owner yelled at him as soon as he got off the car and slapped the courier boy six times in the face. The courier boy who was beaten not only did not fight back, but also apologized repeatedly. The video was recorded and quickly spread all over the Internet...
Li Xiang, founder of Li Auto Li Xiang said after watching the video:
"The money I paid to repair the car included the time he (the driver who beat him) lost in driving the taxi. It was not a penny too much for him." of. With a reasonable request, he slapped him back every time he slapped the courier boy. This is what I really think. "
Netizens were also filled with indignation and supported the beaten courier guy...
When the news reached the ears of SF Express boss Wang Wei, he posted such a domineering post on Moments, vowing to seek justice for the beaten employees.
Countless netizens commented: is what a boss should look like.
In the end, SF Express came forward to negotiate, and the attacker was sentenced to administrative detention for 10 days in accordance with the law on suspicion of provoking quarrels and provoking trouble.
A year later, SF Express borrowed Dingtai New Materials to complete its listing on the Shenzhen Stock Exchange, and stock was renamed SF Holding . On the day of listing, Wang Wei also brought the beaten courier to witness the bell-ringing ceremony...
In fact, Wang Wei, the boss of SF Express, was very low-key and mysterious before.
2.
Wang Wei was born in Shanghai in 1970. His father was a Russian translator for the Air Force, and his mother was a university teacher. His family was quite well off.
html When he was 17 years old, Wang Wei and his family moved to Hong Kong. After graduating from high school, he went to work for an uncle in Shunde, Guangdong, and started a small printing and dyeing industry to learn the craft.
At that time, tens of thousands of manufacturing factories in Hong Kong moved to the mainland, and more than half of them were located near the Pearl River Delta region. Letters exchanged between Hong Kong and the Pearl River Delta region became very frequent. However, mailing took two or three days, which was very inefficient.
Uncle's printing and dyeing business has more and more orders in Hong Kong, but it takes a long time to send the printing and dyeing samples to Hong Kong for customer confirmation. In order to improve efficiency, he asked someone at the dock to help with the delivery.
Wang Wei, who is only in his 20s, has been handling this kind of business for his uncle for a long time. He travels between the two places and is very familiar with the situation on both sides. Many acquaintances also ask him to carry letters and samples along the way to meet their urgent needs.
As time went by, more and more people came to him to help him carry letters along the way, so that he had to use a trolley suitcase to carry letters. When the trolley suitcase could no longer be pulled, Wang Wei realized that this was a business opportunity!
As a result, he often rode a motorcycle through the streets and alleys, tied a large number of parcels collected on the back seat, carried goods for both parties, and earned profits. He was called a "parallel importer".
In 1993, 23-year-old Wang Wei became increasingly busy with his "delivery" business, so he decided to make this his main business. He borrowed 100,000 yuan from his father, and set up SF Express in Shunde with five friends to start an express delivery business.
Because it is reliable and only operates in the mid-to-high-end express delivery market, it avoids competition with large companies, has relatively generous profits, and has established relationships with all aspects. In addition, SF Express has caught up with the booming economy, and its business has developed smoothly.
In just a few years, Wang Wei dared to go against the giants of state-owned enterprises...
3.
In those years, the mainland economy was booming, and the trade between Hong Kong and the mainland entered a honeymoon period. Letters exchanged increased sharply. Wang Wei's business was very prosperous, and he earned millions of dollars a year.
html The 125-year-old Wang Wei's pocket suddenly bulged and floated. Some "nouveau riche" behaved arrogantly and wanted to tell the world that I, Wang Wei, am no longer the poor person I used to be. I am also a rich man!
However, not long after such days, he began to wake up, and even began to believe in Buddhism. Under the reminder of his family, he began to become low-key. If you don't advance, you will retreat. Commercial competition also makes Wang Wei unable to stop.
At that time, China Post had unique resources and the mailing speed was relatively fast, but the price was very impressive, 70 yuan per item!
In order to grab business, Wang Wei only charged 40 yuan per order. Even so, he still made money. This was Wang Wei's strategy of "cutting prices to grab the land" at that time.
The number of SF Express outlets was far less than that of China Post, so Wang Wei quickly made another ruthless move.
In 1996, SF Express started from Shunde and adopted the cooperative agency method to radiate its business to all parts of Guangdong and outside the province.
Every time a site was built, a company was registered and owned by local franchisees, allowing them to operate differentiated operations. This strategy allowed SF Express to quickly dominate the Pearl River Delta express market. While conquering cities and territories, it also laid a huge thunder for itself...
At that time, Wang Wei was a super workaholic, working fifteen or six hours a day, and forcing his employees to run wild.
Front-line salesmen work hard and are very motivated. In order to make more money, they use all their power and rush towards the goal of 24-hour delivery. In the process of sending and receiving parcels, accidents often occur...
In 1997, SF Express has taken over most of the express delivery in mainland China and Hong Kong. On the road to Hong Kong, 7 of the 10 express delivery trucks are owned by SF Express.
In Bow Lan Street, Hong Kong, dozens of large trucks belonging to Wang Weiyun Express have blocked a narrow street, causing neighbors to complain all the time. The rapid development of SF Express has also made this originally deserted street extremely lively...
The existence of SF Express has even made state-owned enterprises take a detour.
At that time, representatives of the state-owned giant China Railway Express went to Guangdong to discuss with the local customs, hoping to take advantage of the opening of the Beijing-Kowloon Railway to open express delivery services in Hong Kong and Guangdong, but they were declined. They said:
"SF Express has already monopolized the entire business. Even if it opens this line, it cannot get enough supply and lose money."
With its monopoly position, Wang Wei made a lot of money. Even the front-line salesmen of Guangdong SF Express could earn tens of thousands of yuan a month in 2000.
Making money is the kingly way, and it is also the best advertising. Seeing the performance of Guangdong SF Express, other regions also joined SF Express's network one after another, and its business quickly spread across the country.
SF Express’s expansion speed is astonishing, but hidden dangers also follow it.
4.
Some franchisees are driven by interests and work independently in the contracting area, and do not listen to Wang Wei's dispatch at all. Some franchisees are also shipping goods. "Bringing in private goods" has seriously affected the brand image; some franchisees even "support their own troops", act as "local tyrants", and even go against the company...
For a time, SF Express franchise stores tended to be divided among princes. The huge express delivery empire that Wang Wei had just established was in danger of falling apart, and the brand reputation was severely challenged.
Wang Wei made a prompt decision and struck out with lightning speed to quickly regain control of SF Express.
His method is also simple and crude, just throw money at it: The franchisees who want to stay will have all their property rights repurchased by SF Express, and will be given favorable conditions to convert them into direct operations. The boss can stay and continue to be a manager; if he does not obey, then the right Unable to afford it, he directly cut off his business relationship with SF Express and reorganized his team and outlets locally...
changed from franchise to direct operation, turning franchisees from "small bosses" to "workers" overnight. Who would be willing to do that?
This decision affected the franchisees' cake. Therefore, some people threatened and intimidated Wang Wei. Some even offered huge rewards and used the Hong Kong underworld to hunt him down!
Wang Wei responded very forcefully: "You can't take my life, but I still want to take back your power."
In order to prevent accidental attacks As a student, Wang Wei is even more low-key, reclusive and refuses to be interviewed by the media. Even his internal magazines are hard to find. For many years since its establishment, only Wang Wei's back or blurry side photos have been published...
Not only that, he has also moved his business to his home, where he is often accompanied by several burly men to protect his safety at all times. Even so, Wang Wei is still under great pressure. It is said that sometimes he will burst into tears while eating...
Since the interests of front-line couriers are not affected, Wang Wei "cuts down the vassal" with an iron fist and accurately attacks those franchisees who do not listen to orders. After years of rectification, he has completely firmly grasped the control in his own hands.
Wang Wei became so cruel that he even touched his father! His father and sister, who have been in business with him for more than 10 years, have not received a penny of shares in after this reorganization.
SF Express’s direct operation model has been implemented across the country, its outlets have been continuously improved, and the market has further expanded, becoming a strong competitor that cannot be ignored with three links and one link.
In 2003, with the outbreak of SARS, business in the aviation industry was sluggish and air freight prices plummeted. 33-year-old Wang Wei once again seized the opportunity to strengthen himself.
He signed an agreement with Yangtze River Express to charter five planes, becoming the first private express company in China to use all-cargo planes. This all-cargo aircraft has a load capacity of 15 tons and constantly travels between the three distribution centers in Guangzhou, Shanghai, and Hangzhou, greatly improving SF Express's operating speed.
In addition to chartering special flights, SF Express has also signed agreements with a number of airlines to charter dedicated bellyholds on relevant routes to transport express items. These measures have made SF Express fast and safe and improved its brand competitiveness.
During this period, the Internet coincided with the rapid development. Domestic online shopping users increased year by year, orders increased explosively, and the express delivery industry also ushered in vigorous development.
In order to quickly seize the market, Wang Wei has mortgaged properties or shops to banks nine times to obtain loans for expansion.
At that time, Wang Wei exuded the temperament of an adventurer. Someone commented on him:
"Wang Wei is very brave. He has the courage to continue to expand. He earns 10 yuan and takes 8 yuan to open a new store."
When it comes to expansion, there is nothing you can't think of, and there is nothing Wang Wei can't do.
5.
In 2009, SF Express received permission to establish an airline. Wang Wei bought two aircraft at one time, becoming the first domestic private express company to own its own aircraft, forming a high-level competition point.
In 2010, SF Express's profit reached 13 billion yuan, second only to China Post, and captured 18% of the country's express delivery market.
Wang Wei, whose pockets were bulging, acted arrogantly again.
This year, 40-year-old Wang Wei spent HK$350 million, breaking the local land price record, acquiring land on La Salle Road in Kowloon Tong, Hong Kong, and building two villas by himself, which caused a sensation.
The paparazzi of Hong Kong's "Next Weekly", in order to find out this mysterious boss, went undercover to the Hong Kong SF Express headquarters and sent express delivery for several days. After a lot of trouble, they took a photo of Wang Wei and published "Parallel importers can buy houses and 757 airplanes." After
was exposed by Hong Kong media, it is said that Wang Wei was very unhappy for a time, but the media still didn’t know much about him.
Even many investors who wanted to make an appointment with Wang Wei found it difficult to do so. According to the chairman of a consulting company, many American investors, including Citibank , had planned to spend US$10 million in commissions and asked intermediaries to contact Wang Wei to discuss investment, but they were all rejected.
Also rejected by Wang Wei were Jack Ma . It is said that Boss Ma made two appointments with Wang Wei but was declined both times.
Although he failed to cooperate, Jack Ma still expressed his admiration for Wang Wei. He said: He admits that it is difficult for him to manage express delivery. The person he admires most is Wang Wei, the boss of "SF Express" who can manage 70,000 grassroots employees.
In addition to the company's rules and regulations, Wang Wei's method of managing front-line employees also plays the emotional card. He speaks internally and confesses to employees: "There would be no me without you, thank you.", and the most important thing is to give high commissions to the front-line employees.
In early 2011, a post about SF Express couriers earning 15,000 yuan a month caused heated discussion on the Internet. SF Express’s model of more work and more gain was enviable.
At the same time, its direct operation model has further exerted its advantages. When its peers lamented that "if you raise prices, you will die, if you don't, you will die." SF Express relied on its brand advantage to ensure relatively generous profits.
Because in the industry, SF Express is recognized as a faster and more standardized company. It jumped out of price wars earlier and focused on service brands. Its high unit price is also accepted by consumers.
Every time a reporter mentions that SF Express has the highest turnover among private express delivery companies, Wang Wei will immediately say:
"Don't talk about this number one, China Post's turnover is much higher than ours. We still have many shortcomings in management and need to continue to improve."
In fact, Wang Wei is a person with a very sense of crisis. A friend commented on him:
"He is the kind of person who feels that a disaster is imminent if he does not adjust for three months, so he often gets angry."
SF Express has the strongest on-site information management capabilities among private express delivery companies. It has a ready-made logistics network, air transport capacity advantages, and professional talent reserves.
Although Wang Wei said that financing is a road of no return. Taking this road means that he can no longer design and lead his own career in a completely independent way, but he still embarked on this road...
6.
In order to go public, Wang Wei broke from his low-key normality and appeared at the beginning of the article. He posted on WeChat to stand up for the courier who was beaten.
He also accepted interviews with the media, and even accepted an invitation from Ma Huateng to participate in the Guangdong-Hong Kong-Macao Greater Bay Area Forum held in Hong Kong. He chatted and laughed with the big guys and rarely appeared in public.
It is worth mentioning that after SF Express was listed, Wang Wei’s net worth once exceeded that of Jack Ma and Ma Huateng, but he could spend 1.4 billion and give red envelopes to employees, with the minimum amount being 1,888 yuan and the maximum exceeding 10,000 yuan.
Wang Wei, who originally said that SF Express would not go public, why did he break his promise?
7.
Wang Wei once said: "Listing is nothing more than obtaining the funds needed for enterprise development. SF Express There is also a lack of money, but SF Express cannot go public for money.”
Express experts believe that the reason why Wang Wei broke his promise is because it will be very slow to rely solely on original capital accumulation to make the company bigger and stronger.
Only through listing financing and increasing investment in equipment can we develop faster.
Data show that in 2015, SF Express’s operating income exceeded 47.3 billion yuan, which was four times that of YTO and six times that of STO. However, its net profit attributable to the parent company was 1.62 billion yuan, more than twice that of YTO and more than three times that of STO. Not proportional to revenue at all.
At the same time, SF Express’s asset-liability ratio is also higher than the industry average.
Perhaps many reasons came together to force Wang Wei to open his arms to capital.
However, Wang Wei and Jack Ma fell out soon after the listing.
In June 2017, SF Express suddenly announced that it would close its data interface to Cainiao, which meant that Alibaba Cainiao could not provide SF Express logistics data to platforms such as Tmall and Taobao.
SF Express said that the trigger was that the other party first cut off the information interface of Fengchao and "blocked" Fengchao. It also said: " Rookie blocked SF Express. The reason behind it was that Alibaba had always wanted SF Express to switch from Tencent Cloud to Alibaba Cloud . "
But Cainiao responded, "Jointly promote information security and consumer privacy protection. However, SF Express and Fengchao declined due to various reasons, which is difficult to understand. "
The two sides are fighting each other, just like Rashomon . Gods fight, but it is consumers and businesses who suffer.
The merchant cannot determine whether the buyer has received the goods, and the buyer cannot track the logistics information of the goods in real time.
Some employees said that Alibaba and SF Express have had a long-standing feud, but this time it broke out. After all, the media once revealed that Wang Wei had rejected Jack Ma, and Jack Ma had also rejected Wang Wei...
Later, the relevant national departments convened high-level negotiations from both parties, and the two sides restored the data, and the dispute between the bosses was settled.
In 2020, when the epidemic broke out, SF Express’s performance exploded again. Revenue in the first half of the year was 71.129 billion yuan, a year-on-year increase of 342.05%; net profit attributable to shareholders of listed companies was 3.762 billion yuan, a year-on-year increase of 21.35%.
Wang Wei was so angry that he sent another 500 million yuan in red envelopes to his employees! Each employee received a red envelope of 888 yuan...
is rich, but Wang Wei also has troubles.
8.
Wang Wei recalled the past and said that he made a lot of money when he was young. Like a nouveau riche, he spent money lavishly and lived a very extravagant life.
Although he is rich, his spirit is empty. Later, he found spiritual sustenance in Buddhism.
It is said that eight Buddha statues were placed in Wang Wei's office. He said:
"I believe in Buddhism. I believe that people's achievements have nothing to do with their abilities. Achievement is related to blessings, so having money is not a big deal, and having skills is not a big deal. Making money is just It's just fate. So I think some achievements in personal career are not worth exaggerating. "
However, after going public, Wang Wei can no longer keep a low profile, because new troubles will follow him.
The involution and homogeneous competition in the express delivery industry have seriously dragged down the price of express delivery tickets; moreover, the strong bargaining power of upstream partners has also restricted the rise and fall of express delivery prices, and SF Express's profits have also declined.
Wang Wei could only apologize at the shareholders' meeting, admitting that he had not managed the business well...
In order to improve profitability, SF Express expanded from the express delivery business to the retail industry and spent a lot of money to launch "SF Express E Business District", "Fenghuotai" and " Feng e Full Food ", etc., but the results were not ideal.
In order to make a breakthrough, Wang Wei has been emphasizing to the company’s employees: relies on selling labor to move goods, which is not SF Express’s ultimate destiny.
From convenience stores, unmanned shelves, fresh food delivery, smart logistics, financial services to industrial clusters, and then to cross-border e-commerce, this is SF Express’s “sea of stars”.
However, Wang Wei’s e-commerce layout also failed in his journey to “Stars in the Sea”.
In 2022, Shanghai Qianqu Network Technology Co., Ltd., a subsidiary of SF Express's cross-border e-commerce platform "Fengqu Haitao", was filed for bankruptcy liquidation.
SF Express Investment holds 48.93% of shares of . is the largest shareholder. SF Express Chairman Wang Wei indirectly holds 24.86% of the shares. SF Holding's share price has also been plummeting, causing Wang Wei's net worth to shrink significantly...
What's worse is that SF Express's service and reputation have also been questioned by the public.
In September this year, the news that "SF Express lost 20 grams of gold, and the insured price was 8,000, but only 2,000 was compensated" became a hot search topic on Weibo .
Later, SF Express responded that the full amount of the insured amount of 8,000 yuan had been paid to the account in advance.
However, this is not an isolated case. A woman in Guangdong said that an Apple mobile phone worth 11,000 yuan was lost by SF Express, and SF Express only compensated 1,000 yuan based on the insured price.
Since then, some netizens have exposed that an order with an insured price of RMB 18,000 was damaged during transportation, and SF Express only compensated 500 yuan in the end...
Such rights protection incidents have emerged one after another, putting SF Express at the forefront of public opinion again and again.
Recently, in the first wave of the epidemic after full liberalization, antipyretics, antigen and other medicines have been hard to find. Therefore, many people have provided scarce medicines to family and friends by mail. Unexpectedly, SF Express also encountered problems many times during the transportation process.
Some netizens said that the express delivery they mailed had holes and Merrill Lynch and other drugs were stolen, which once again put SF Express on the hot search...
Of course, SF Express is not the only one with similar problems, but such rights protection incidents happen again and again. No matter how much public relations are used, the damage to the brand image is immeasurable.
The gold cup and silver cup are not as good as the public's reputation. If it harms the interests of consumers and messes up the reputation, the tailwind will turn into a headwind, and it may be difficult to recover.
The author of this article: Wan Xiaodao, writes about stars and gossip, with evidence and evidence; upright image and slanted shadow are all determined by oneself. Welcome to follow @万小刀 headline number
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