"Sheng Huo Ling" or "Yi Jin Jing" Sanitary companies rush to the market to think

As a branch of the ceramics industry, sanitary ware companies have been extremely eye-catching in recent years. Overseas listing, strong alliances, and endorsements by various stars have all indicated the start of the branding process of the sanitary ware industry. Although there are many powerful sanitary enterprises in the scene, but due to the ever-changing market in the sanitary ware industry, the increasingly fierce competition in enterprises, rivers and lakes has never been called the boss. Experts have already pointed out that in the next decade, China's sanitary ware industry will surely emerge as a leader enterprise with a group of strong companies occupying a relatively large market share in the industry and guiding industry trends. The first place in China's sanitary ware was placed there, naturally causing a stir. Many companies are targeting the magic weapon of listing.

On March 30, 2010, Zhongyu Building Material Group Co., Ltd. was formally listed on the main board of the Frankfurt Stock Exchange of Germany and became the first Chinese sanitary ware company successfully listed in Europe. According to reports, Zhongyu IPO raised funds for the first time at 105 million euros, becoming the first Chinese company to raise funds on the Main Board of the Frankfurt Stock Exchange. On March 30, local time, "Frankfurters" reported that China's sanitary ware and faucet manufacturer Zhongyu Building Materials Group Co., Ltd. (Joyou AG, JY8.XE, referred to as Zhongyu Sanitary Ware) on the 30th in Frankfurt to pay 14.75 euros. The trading price was successfully listed, which was 13.5% higher than the issue price. The IPO raised funds to 105 million euros and became the largest Chinese company entering the Frankfurt securities market.

One thing in this matter, shocked bathroom counterparts. People are almost out of their career instincts to tell each other, and the topic of “listing” has once again been placed on the planning schedule of many sanitary companies. A surge of listings swept the bathroom industry.

Shortly afterwards, the industry reported another news: Shenluda is expected to achieve the listing of domestic A shares. According to public information, Jiumu Group has launched a listing plan in 2010 and is expected to list on the domestic A-shares in 2014.

On July 19, 2010, Fujian Daily News published the article “Shenluda Co., Ltd. Proposed Initial Public Offering of A Shares to Get Coaching Announcement”. At this point, Shenluda ** entered the actual operation stage and quickly entered government-assisted counseling. period. In fact, throughout the mainstream bathroom companies, besides Shenluda, Jiumu, Brilliant, Dongpeng, and ABC, the listing plan has long been launched, and it has been proceeding step by step.

For example, Jiumu Group, as early as the end of August 2007, Jiumu Group signed contracts with China Jianyin Investment & Securities Co., Ltd. and China Construction Bank Corporation for a domestic listing business (IPO business) cooperation agreement. Ever since, it was not surprising that it announced its listing strategy at the dealers' annual meeting in 2009.

On June 16 this year, Jiumu Sanitary officially announced the establishment of Jiumu Kitchen & Bath Co., Ltd. “Jiumu Kitchen & Bath Co., Ltd.” was formally established, and has started to comprehensively reform the system, operation and management, R&D and innovation, product structure, and corporate culture, and initiated the informatization of SAP and OA projects to achieve institutionalized and systematic management. People pointed out that this is in fact the deployment of Nine Animal Husbandry in advance of the listing.

Nan'an District, another giant, brilliant plumbing bathroom has already entered the list of listed companies in Nan'an City.

Huida sanitary ware, Bode Seiko combined with Emperor sanitary ware, Olussa sanitary ware, Mediterranean sanitary ware, etc. are also publicly stated that they will launch a listing plan or are preparing for listing. China Water Plumbing Industry Base The head of Shuikou Town in Kaiping City interviewed by the media in 2010 also stated that it will train one or two companies to go public in the next five years.

Following the passion of this stock market, companies leading the way ahead of the listing will continue to provide templates and experience for the listing of other sanitary companies. Senior industry sources said that the Chinese sanitary ware giant will continue to set off a wave of listing in the next five years.

Holy Order or Yi Jin Jing?

Wulin Supreme, Sword and Dragon. Relying on the sky, who and the battle. However, in front of the sacred order, Tu Long refused to destroy it. The sacred order is a sacred relic of the Ming dynasty and is used as a witness. Hand held the sacred order, the identity can protect the country, to ensure that the orthodox blood lineage through the ages. The listing of companies, like martial arts martial arts won the sacred order, both strong vocal, but also Feng Yi wing. But with careful thought, in fact, "listing" is just like practicing the Yi Jin Jing. To be listed, it was first converted into a joint-stock company, and systemization and institutionalization were indispensable and even radically changed.

The listing of companies is undoubtedly a new opportunity for the development of enterprises. For example, Cai Yu, chief operating officer of Zhongyu Sanitary, once stated that the listing has provided Zhongyu with a new opportunity for development. Zhongyu will make full use of this opportunity to improve its leading position in the market.

Since 2010, Zhongyu has indeed been expanding the domestic market at a surprising rate. The astonishing expansion speed not only continues to consolidate its own market position, it also brings impact to its peers and brings the whole industry to the capital market. Confidence.

At present, the successful case of Zhongyu's rapid development after IPO seems to convey such a message: In the past, sanitary ware companies commonly used celebrity endorsements or peer-to-peer alliances to promote the rapid development of enterprises and strive to occupy the market as soon as possible. Sanitary companies have become somewhat thin.

At present, many domestic sanitary ware companies have encountered bottlenecks in their development. Industrial upgrading and rapid expansion require huge financial support, and listing ** is the first choice to break. At the same time, with the launch of this magic weapon, sanitary companies can get more benefits.

Professionals point out that the company’s listing mainly has these benefits:

First, to enrich channels and enhance reputation: to raise funds for enterprises to further develop and expand, so that companies can grow bigger and stronger steadily; help companies improve their credit status, enjoy low-cost convenience; let companies have Richer channels and more channels.

Second, standardize corporate operations and attract outstanding talents: It can help enterprises standardize governance structure, improve management systems, and improve operational efficiency. The use of stock options and other means to achieve effective incentives for employees and management can help enterprises attract outstanding talents. Strengthen the development potential of the company.

Third, prove the company's strength, enhance corporate image: Listing is a strong proof of the level of corporate management, development prospects, profitability; through newspapers, television stations and other media, can increase corporate awareness, enhance corporate image, expand market influence.

4. Finding the value of stocks and increasing their liquidity: Using market-based evaluation mechanisms to discover the true value of corporate stocks; Increasing the liquidity of stocks is an effective way to realize the maximization of stock returns and realize investment capital.

Taking the first two points as an example, sanitary ware companies can quickly expand their business scale and expand their terminals with large and stable funds. At the same time, they can circumvent the financial risks associated with ups and downs in their operations, enhance transaction credits, and enhance follow-up. **ability.

For sanitary ware companies that still rely solely on their profit accumulation and borrowing private funds to run their businesses, there is no strong capital base to back them. If development is not well-supported, it can easily be thrown away by other powerful companies.

As the standardization and openness of enterprise operations are the preconditions for the listing of companies, for some family-owned management companies, the listing of companies means the baptism of the old system of enterprises. Many sanitary companies in Fujian producing areas have the distinctive feature of family-style management. This family-owned management has once played its unique advantages. However, the disadvantages associated with the simple structure, the confusing organization, and the transfer of management with individual will often constrain the development of the company. When the planning of an enterprise far exceeds the capacity load of the family's core members, the company faces difficulties. Normative enterprise management has become an imminent issue. To take the most recent example, some family-owned companies often split their homes. In many cases, separating a family means that the company is forced to split and the loss of assets is almost inevitable. These are extremely unfavorable for the development of the company. For enterprises to go public, they must first reform the joint-stock system. The supervision of stockholders, governments at all levels, securities regulatory agencies and the society, and the transformation of operating mechanisms are the prerequisites for the steady development of modern enterprises. As Hong Guangming, the old chairman of the Shenluda Group, puts it, the purpose of listing is to standardize the management of enterprises and realize the transition from a family company to a modern company, so as to make the company bigger and stronger and allow the national brand to achieve better development.

All roads will be listed on the Mingding Summit. When this road is not available, please save the country through the curve. In fact, many sanitary companies have encountered setbacks during their listing or after listing.

In 2009, the industry once blew up the wave of listings, but given that the world was experiencing an international financial crisis at the time and affected by the financial crisis and the continuous decline in the real estate market volume, the turnover of the ceramics industry continued to decline, and the export situation was even more unbearable. Faced with the ever-changing capital market, Dongpeng Sanitary Ware and other companies had been forced to suspend the listing plan and wait for the next suitable time for listing after the storm, which slowed down the listing process.

In fact, the listing of the ceramic industry is very difficult. In addition to the financial situation, as one of the 13 key pollution industries classified by the Ministry of Environmental Protection, the government does not encourage the listing of the building materials industry. As an approved stock issuance system, companies must first go through the Securities and Futures Commission. Many ambitious sanitary companies are stuck at this point.

However, some responsible persons in related departments also revealed that although the construction industry and enterprises produce pollution, although inevitable, this does not mean that pollution cannot be listed. “Mainly to meet the national industrial guidance, sanitary ware is not a restrictive industry, since there are listed companies. The precedent, then the focus is on the company's anti-pollution, pollution control techniques and means, is to be able to meet or even exceed the national standards. Some to abide by the law first."

However, the wave of development through listing has not diminished. There are farsighted and brave sanitary enterprises have never given up to achieve corporate listing through various channels.

Zhongyu Group chose to cooperate with foreign brands, and the listing of shares in Frankfurt, Germany, provided new ideas for many companies. According to industry sources, overseas listed companies are required to disclose relevant corporate information, such as shareholder composition, shareholding allocation, financial status, profit model, and timely updates of relevant information. Because the threshold for listing and issuance under the registration system is relatively low, it has become the first choice for many companies to go public. It can quickly and easily raise funds through the listing to carry out enterprise-related project development. For some export-oriented enterprises, the choice of overseas listings, in addition to the low threshold, can further develop their own businesses and have dual advantages. Fujian Hengda has successfully listed on the backdoor in the United States. Foshan Asian Ceramics has been domestically marketed in the United States. Jinjiang Wanli Ceramics has been listed in South Korea...

In front of many successful cases, sanitary companies have full confidence.

However, after the listing, it does not mean that you can sit back and hold a lot of capital to worry. The Chinese stock market was established in 1990. Three years later, Fujian Haosheng Co., Ltd. successfully listed and was known as the “Chinese ceramics first stock”. In 1999, Eagle Brand Ceramics was successfully listed on the Singapore Exchange. In the same year, China's first professional sanitary equipment manufacturing and listed company, Siwei Holding, was successfully issued in A shares in 1999. Sanitary companies have also entered the listing history since then. Under the role of pioneers, many companies have followed suit and set off a wave of sprints. However, as of today, listed ceramic companies are still very few, and sanitary ware companies are still alone. The ceramic sanitary ware companies that were listed on the market have also been embarrassing. Fujian Haosheng as a veteran architectural ceramics listed company after undergoing a year-round decline in the performance of the ceramic industry, in August 2001 resolutely transformed into a real estate company through asset replacement, and changed its name to Lijia shares; Eagle Ceramics went public and delisted The insurance was sold into empty shells and turned into state-owned enterprises again. In the sanitary ware business, four-dimensional sanitary wares have undergone several changes, and state-owned enterprises have been transformed in the future; the Chenglin Sanitary Ware, which opened a market for Taiwanese-funded companies listed in mainland China, has been exposed to the development of almost annual losses in recent years. The post-listing normative process is like a curse, so that some companies suddenly can no longer meet each other, many companies are often at a loss or even go astray.

Therefore, despite the fact that all roads pass through the top of the light, the thorns along the way may not be very pleasant. After the summit is over, they must be extremely careful when they are small.

Everyone wants to be Zhang Wuji. Some securities experts pointed out that if the company's mentality is not right after the listing, pampered, performance decline is not impossible, the development track of some listed companies is evidence. Looking at the ceramic companies, there are not many companies that have developed steadily after the listing. Some of the examples of delisting after the listing of companies, such as those mentioned above, are startling.

Some problems that have not been solved for a long time in the development of a company cannot be left unchecked because it is listed. Funding is also not the reason for blindly pursuing diversification, disregarding the main business, and expanding arbitrarily. According to industry sources, if you want to go public, you should try your best. Everyone wants to be wild, but not everyone is a natural martial artist. The foundation is thin and plump. Listing is not a goal. It is just a means. It is a magic weapon, not a final fantasy. Through the listing, sanitary ware companies are pursuing a modern enterprise system that guarantees the stable development and expansion of the enterprise, as well as the trend of securitization that can not avoid the industry capital operation.

2011 has already become a thing of the past. A new round of commercial wars is underway, and it will be a beautiful state of the market economy that never sees Nanjing and Japan. In the new year, how can bathroom companies renew their listing history? How to avoid the "down on the market" historical tragedies? All need the industry to think together.

Saying goodbye to the first year of the securitization of China's ceramic sanitary ware industry, we have reason to believe that people who pursue dreams will never die, and the ideal of pursuing enterprise development to bring Chinese sanitary ware products to the world will never be extinguished. The majority of market demands are calling for energy saving and emission reduction. In response to the call to go public, we use dreams as horses and make strides.