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The American Apple founder Jobs’s speech at the new product launch was imitated by countless entrepreneurs, and Wang Donglei was one of them. Wang Donglei is the chairman and general manager of Dehao Runda.
On the afternoon of June 8, Wang Donglei wore white T-shirts and slacks, and introduced a new LED product called flip chip to hundreds of customers and suppliers in front of a large screen. Wang Donglei said that in this product field, Dehao Runda's goal is the world's first. Wang’s temperament may come from his other identity, the chairman of China’s largest lighting brand, Lei Shizhao. At the end of 2012, on the occasion of NVC Lighting's guilt, Dehao Runda took the opportunity to acquire the latter 20.05 shares and became the largest shareholder of NVC Lighting. At the end of April this year, Dehao Runda re-acquired 6.86 shares of NVC Lighting, which increased its shareholding in NVC Lighting to 27.1. Wang Donglei told the Economic Observer that he will continue to increase NVC lighting in the future, but now there is no A clear timetable.
A senior LED industry expert said that after the acquisition of NVC Lighting's equity as the single largest shareholder, Dehao Runda has actually taken the top spot in the Chinese lighting industry. In fact, five years ago, Dehao Runda's main business was to produce small household appliances and become one of the world's three largest home appliance manufacturers. Today, Wang Donglei said that Dehao Runda has successfully transformed LED.
In the year of 1996, Wang Donglei founded China Resources Electric Co., Ltd. in Zhuhai, Guangdong. The company officially changed its name to Guangdong Dehao Runda Electric Co., Ltd. in 2001. Dehao Runda, which produces Western-style small household appliances business by OEM, has quickly become a leader in this field. Wang Donglei said that before the transformation, the company's bread machine produced 70 to 80 global market share. Wang Donglei was also the king of the bread machine. In fact, in addition to the bread machine, the company's ovens, ovens, electric fryers and other small household appliances occupy a very large market share. But the 2008 financial crisis hit the industry. At that time, almost all companies engaged in this industry were very difficult to get orders from Europe and the United States, and Dehao Runda also faced such a dilemma.
In this context, Wang Donglei decided to transform. The determined transformation path is to engage in new energy-related industries. At that time, I investigated LED, lead phosphate aluminum battery and wind energy solar energy. Wang Donglei said. Finally, Wang Donglei decided to choose a more autonomy LED industry. In his view, other industries are more restricted by government subsidies, and the LED industry can get rid of government subsidies through technological advancement and achieve independent profits. After determining the direction of transformation, Dehao Runda quickly entered the LED industry through mergers and acquisitions. In early 2009, the company introduced strategic investor Guangdong Jianlongda. Since then, Dehao Runda has invested 100 million yuan to support Taishan Jianlong and has been assigned all the fixed assets related to LED business by Guangdong Jianlongda and Enping Jianlong, and has successfully entered the LED industry packaging field.
In August of that year, Dehao Runda acquired the highly competitive Shenzhen Ruitu Display Technology Co., Ltd. in the field of outdoor LED display in China. Two months later, the company officially announced the transformation and raised 1.5 billion yuan to invest in the construction of LED factory in Wuhu. Today, Dehao Runda owns seven R&D and manufacturing bases in Zhuhai, Wuhu, Zhongshan, Shenzhen, Dalian, Yangzhou and Anhui. Despite the manufacturing capabilities, the company still lacks strong channels to support it. Wang Donglei said frankly that in the beginning of entering the LED industry, the acquisition of a lighting company with strong channels is an established plan.
The opportunity appeared in 2012. In this year, there were thousands of specialty stores in China, and NVC Lighting, the largest lighting company in China, broke out. The company’s founder Wu Changjiang and the investors represented by the founding partner of Safran Asia Investment Fund compete for control of the company, causing the production of the star company to be stagnant.
Wang Donglei told the Economic Observer that he was not affected by this because the NVC channel was still unparalleled, and Dehao Runda just valued its channels. According to industry insiders, NVC Lighting now has as many as 4,000 stores.
At the end of 2012, Dehao Runda announced that it has acquired a total of 20.05 shares of NVC Lighting through its wholly-owned subsidiary Dehao Runda International (Hong Kong) Co., Ltd. at a total price of approximately RMB 1.343 billion, becoming the largest shareholder of NVC Lighting. Industry insiders familiar with NVC Lighting said that the acquisition was not optimistic about the industry at the time, but Dehao Runda did get the channel for NVC lighting through this acquisition. This makes the company the only full-chain manufacturer in the LED industry. In April of this year, Dehao Runda once again spent 500 million yuan from Wu Changjiang and NVC Inc. to accept the 6.86 shares of NVC Lighting. At this point, Dehao Runda has held a 27.1 stake in NVC Lighting. However, Wang Donglei said that in the future, I believe that it will continue to increase its shareholding in NVC. It is also possible to become the same group, and these are only possible, there is no fixed timetable. Wang Donglei said.
Successful transformation?
At the new product launch conference on June 8, in addition to Wang Donglei, Ding Yisheng, chief operating officer of the company's chip business unit, and Mo Qingwei, vice president of chip research and development, all made a Steve's speech and introduced the company's new products. This product is a new generation of LED technology called the new generation of flip chip named after Sirius. The above LED industry experts said that this flip chip technology was previously only in the hands of the two giants Philips and Cree. On this day, Dehao Runda announced that this new technology can achieve mass production. Mo Qingwei said that using this new technology can save 30 fixed assets investment.
At present, the more widely used in the market is a technology that has become a pre-loaded chip. Compared with the packaged chip, the flip chip has higher luminous efficiency and more stable performance. After launching this new product that is considered to be a future trend, Wang Donglei is more confident in the success of the company's transformation. Dehao Runda is the first company in Asia to have this technology. Our goal is to make the chip the third in the world. The future goal is to make Dehao Runda a world-class lighting group. Wang Donglei said. According to UBS forecasts, the overall growth rate of the global lighting market from 2013 to 2015 was 36, 37 and 38 respectively, of which residential LED lighting market demand increased by 157, 90 and 62 respectively. Meanwhile, China LED Online predicted that 2014 LED lighting The output value will reach 17.8 billion US dollars, and the total number of LED lighting products shipped will reach 1.32 billion, a growth of 68 compared with 2013.
In fact, in 2014, as the company's major bases were put into operation, Dehao Runda's chip business performance began to show rapid growth. Wang Donglei revealed that in March of this year, the company's LED chip sales revenue was about 90 million yuan, and it was raised to 120 million yuan in May. Our goal is to achieve a monthly sales of 150 million yuan in the first quarter of 2015 and 200 million yuan in the second quarter. Wang Donglei said.
Dehao Runda said that the implementation of the company's capacity expansion plan needs to be adjusted in real time according to market demand, and there is certain uncertainty. However, the company still faces some difficulties in LED expansion. For example, government subsidies are reduced and overcapacity in the LED industry. In this dilemma, in 2013, Dehao Runda's sales revenue was 3.13 billion yuan, a year-on-year increase of 13.5; but net profit fell 94.55 year-on-year to 8.826 million yuan. In the first quarter of this year, Dehao Runda's sales revenue was 765 million yuan, an increase of 8.56 year-on-year; net profit fell 182.4 year-on-year, with a loss of 35.66 million yuan.
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