Lifan Yin Mingshan: Who is the right person who is the successor?

“This is my best birthday gift.” On January 10, 2011, Yin Mingshan, the chairman of Lifan Group, received a gift two years late because of the financial crisis. Lifan shares stock code “601777”. (On November 25 last year, Chongqing Lifan’s shares were successfully listed on domestic A shares)

After listing, the Yin family’s book wealth exceeded 10 billion yuan, but the skyrocketing wealth has not changed Yin Mingshan's trajectory. He still drove him to work on time with Lifan 520. This year, he was 73 years old, and he has established the Lifan brand for 19 years. When accepting an interview with Netease Auto, he laughed and said, "I still have to do it for a few years.

Yin Mingshan told Netease Automobile that “in late 2006, Lifan started to be a relatively late starter. After thinking about it, Lifan had grown up in the struggle between difficulties and hardships. I would like to bite my teeth. I give them (employees). For eight years and ten years, we must be able to do the car."

Recently, Yin Mingshan, the chairman of Lifan Group, accepted an exclusive interview with Netease, telling us about his concept and story.

"I succeeded because I learned and read well."

Netease Auto: Lifan is listed, and one thing you have been waiting for has already been reached. Many media say you are very successful. Do you think you have succeeded?

Yin Mingshan: You may have heard that I did not have a high academic qualification and I read a high school. Nor was it positioned before the reform and opening up, and the family was not well-born. It was the landlord's origin. It is very difficult for people like this to have a world in China. I think the reason why I can achieve this small achievement today is mainly because I like to read and study hard. If I am not good at school, there can be no today.

I started my business at the age of 55. Many people at the age of 55 are reluctant to work or think that their brains are not agile enough to learn. The reason why I am still a little different, I think the fundamental reason is that I am good at learning and reading.

The reform and opening up has given everyone in China an opportunity, but only some people, only a few percent have the opportunity to come to the fore. Although they have a variety of other developments, they are all very good at learning, even if their original level of education is not high, such as many big bosses, only junior high school education, but their junior high school education level. It is not worse than many graduate students and doctoral students.

Because of his continuous learning and continuous accumulation, he has only today. Me, too, I am a landlord's child. In the poor mountain valley, I must say that it was a misfortune in the end of my life. But I must run out to study. I went to Chongqing from the mountains to study. The book is also quite good, so I have today. I really know that children in rural China grow up with healthy development and education as the first factor. They have fewer opportunities. So he learns well. He can always find opportunities to show. Plus I have been a teacher for a few years, so I think that schooling is very important. (As of now, Yin Mingshan has funded the construction of 102 charity charity primary schools)

"The law of the industry determines that we build cars."

Netease Automobile: Since the establishment of Lifan in 1992, you have been mainly producing motorcycles and engines. They have developed quite maturely. Why did you choose to enter the corporate industry in 2006?

Yin Mingshan: Actually, we know that it is very late in 2006, when it was determined by the laws of an industry. The motorcycle industry is a very strange law, and it will grow more and more prosperous with the country’s affluence. However, when it is more affluent, the sales of motorcycles will fall, and they will really buy family cars. The world’s economic development is very clear. When the Japanese motorcycle was most developed, he had 35% of motorcycles, and 100 Japanese had 35 motorcycles. Now 3.5% are gone, and even 3.5% of them are not. China's motorcycles have now reached a stage of relatively slow development and are approaching an inflection point.

Yin Mingshan and his car 520

In addition, many motorcycles are doing well and there are more choices at this time. Another one, we choose the most difficult is to open up new areas. Fortunately, we also have ancestors to do a better job. For example, BMW started from a motorcycle. I think that when a motorcycle is transferred to a car, the most successful Honda, Suzuki, and Kia, Kia are now almost close to 2 million. The road that our ancestors gave us is also very difficult. After an imaginative move, Lifan has always struggled to grow up in the midst of hardships and difficulties. I would like to bite my teeth, including eight years of ten years for them, and I will certainly be able to make cars. This year is the sixth year. With more than ten years of practice in the past, I believe that the eight years and ten years can still be successful. If it is earlier, it may take three to five years. When we are late, it will take eight to ten years.

Netease Automobile: Does it mean that the car has become the main business of Lifan Group afterwards?

Yin Mingshan: I think that from the motorcycle to the car, the most successful Honda, I admire him very much. When they were the first in the world, their motorcycles started to be sedans. Until today, the car has also become the world's best. And his car sales revenue is nine times that of motorcycle sales.

I think one day, at the latest, this year, cars and motorcycles will reach one to one scale. Now in terms of profits, our motorcycles need to be a bit higher because motorcycles are more mature. It will take a long time for the ratio of cars and motorcycles to reach 2:1. In the end, I would not dare to be as successful as Honda 9:1. I think 5:1 is still possible.

"Lifan made cars for 5 years and can only count as passing"

Netease Automobile: From the year of 06 to 2010, Lifan has been building cars for more than five years. Are you satisfied with the current development status?

Yin Mingshan: I'm quite satisfied, but I can only pass the exam. The passing score is slightly more. The accumulation of our own talents is mainly the accumulation of talents, accumulation of technology, and accumulation of experience. It is still not very successful and not very good. Have not encountered good opportunities, such as BYD has F3 opportunities. After all, a business needs opportunities. Opportunities are accumulating and waiting for it. It may happen some day.

Netease Automobile: You mentioned BYD. In terms of the speed of development of cars, BYD's development is still relatively fast. However, relatively speaking, Lifan is relatively slow. Compared with them, do you think Lifan is such a development model that is different from them?

Yin Mingshan: As a whole, BYD is probably five years ahead of ours. The past few years are the most critical years. We have two major differences. The first is not to learn, and Bafit is descending from heaven. This is where the nobles help and no one can learn. Chery was at least four to five times bigger than BYD. Now BYD has already surpassed Chery. It is because BYD has Bafite. Another is its deep processing.

"Auto companies are capital-intensive companies and must be listed"

Netease Auto: Why should Lifan be listed?

Yin Mingshan: Of all the successful auto companies in the world, few are not listed companies. Because in fact it is an intensive enterprise, relying on intensive capital, relying purely on a single enterprise, can never be done, so it must be listed. If the listing is optional for motorcycles, motorcycles may not be listed, it does not matter, small businesses, and the amount of money earned each day is sufficient. Therefore, it is a critical step and a very important step. We try to publicize our company and try to absorb as much public funds as possible. We have more funds and we will increase our efforts in development.

Netease Auto: After the listing, what is your long-term plan?

Yin Mingshan: First of all, motorcycles need to be bigger and stronger. After extending into automobiles, motorcycles are still the world champions. Our motorcycles are still very important in China. Our exports are already the first, and we must maintain our position first. . Our domestic sales can generally be ranked in the top five. There is no way to be the first. This objectively speaking, we must also maintain stability. We are stable in the top five, and even have to rise. The overall size must be bigger. We are building a brand new motorcycle factory. We propose to build the best motorcycle factory in the country. The goals that have been put forward have been automated, informationized, and low-carbonized. But there is no doubt that we must invest more money and more energy in the automotive industry.

"You can do anything, but you can't tell lies."

Netease Automobile: Lifan Plant has a lot of slogans, some of which are very interesting, such as everywhere is "Toyota Toyota is everywhere, but also we Lifan people do?" These banners are you think?

Yin Mingshan: We have passed the era of slogans and slogans. You have not experienced the slogan of slogans. From the 1950s, from children to adults, until the reform and opening up, we grew up in the sea of ​​slogans and slogans, so the banner slogans in our minds left a deep imprint. This thing cannot be said to be good, nor can it be said that it is not good. The slogan of the slogan itself is only a tool. If it is used well, it is not good to use it well. The main purpose is to use to inspire employees, some of these words are very encouraging.

Yin Mingshan's Lifan slogan culture

Netease Automobile: Actually, you have two sentences. The company is very interesting. "I would rather be a negative sailor and not be a sailor," and there are "heroes and heroes coming forth from time to time." This kind of corporate philosophy is very interesting. How should we interpret this corporate philosophy?

Yin Mingshan: Starting from me, it is better for others to sail negatively and not to force others to sail. My subordinates, he does not keep his promise. This is unforgivable. If you just find a reason and don't respect people, such management will definitely not work. He is excellent in other aspects. In fact, credit is not a more or less noble quality. Sometimes a person is not necessarily very good in many places, but he is very trustworthy. I feel that keeping promises is a basic one. I think the Bible in business and business is credit. We have two businesses, my advisor is not filial to his parents, his temper is tempered or gentle, and he has nothing to do with me. As long as he has the same, I can do business with him, keep promises, fail credit, how gentle and filial you are. Parents, how old and young, I can't do business with you, so this is the Bible's top priority, the first criterion. We are now talking about the company, the media is worth it, really. You can do anything, but you can't tell lies.

For small companies, I think ambition and morale are very important. In large companies, where the chairman of the board goes to take a big holiday for a week, there is still no problem. It can go very far with inertia, and small businesses cannot.

Netease Automobile: In the entire operation of Lifan, do you think the credibility issue is the first one?

Yin Mingshan: You ask us to go up and down the staff, investigate and find out, they can accuse Lifan, but they can not or rarely criticize Lifan for failing to keep promises. I can have such problems, but this point, over ten years, has repeatedly stressed the importance of setting an example, keeping promises, and slowly established a relatively good atmosphere.

"Striving for 300,000 Targets in 2015"

Netease Auto: Do ​​you think that after three to five years, what will be the overall size of a car in Lifan?

Yin Mingshan: In a common language in the world, there should be 300,000 vehicles in the world. China's situation is different. China's cost will be lower, and China will not need 300,000 vehicles. However, sooner or later, China will have real integration with the world and it will reach 300,000 vehicles that day. Therefore, our goal to reach 2020 is to achieve 300,000 vehicles. Of course, if we realize that it will be a little late in 2020, we will not be able to achieve it in 2015. We will not achieve it in 2015 as soon as 2016, and we must achieve it as soon as possible.

Netease Auto: To achieve a total size of 300,000 vehicles in 2015?

Yin Mingshan: In a better situation, the ideal situation. Because the business is not big.

Netease Auto: Compared with BYD, it is still relatively conservative.

Yin Mingshan: Of course I couldn't say anything. I admired a sentence Toyota had once said. He said that when Toyota climbed like a turtle, it was very successful. When Toyota ran like a rabbit, it must have failed. . It has its philosophy.

Of course, this fiercely competitive world, like a turtle, will certainly be trampled to death. To do it steadily, you can't run like a rabbit, and the turtle can crawl a little slower. Learn from the previous lessons. If you say a word of triumph, you can achieve 300,000 vehicles in two or three years. Can you do it? It can also be done, but that may leave behind a hundred holes.

I am a very old person, already 73 years old, so the speed and ultimate effect of the operation are dialectically united and the output of desperate plans may reach, but last year many companies around us desperately plotted the output and gave them Left a lot of quality problems. It should be said that China's output last year went up, but the quality of last year recalled a lot.

"Lifan's own brand is always our leader."

Netease Auto: Are you still talking about Subaru project cooperation?

Yin Mingshan: The topic of Subaru is very sensitive. It is not successful if something begins without success. So on this topic, I can only say that there is such a willingness and the degree to which we are going. We will pay attention together.

My point is that Lifan's own brand will always be our leader, but I don’t exclude and apportion it out, allocate some funds, some resources can cooperate with foreign capital, cooperate with state-owned enterprises, and cooperate with other private enterprises. Because companies are too big and rely solely on Lifan, it may be difficult to do so. But I'm sticking to my own brand. I think after a hundred years, my Lifan is still a self-innovative independent brand.

In turn, some joint ventures, I don't think they can do it for a hundred years. Because people come here to make money, it is definitely not to help you develop. You have to figure it out. He can also make money. I can make money, too. But he wants to help you to become a 100-year-old opponent. Is he stupid?

They are already very clear in China. They are in the process of earning money and making money, what they should do, but it is absolutely impossible for their brand to provide you with the core technology to you.

For the automotive industry, we experienced the first wave. At present, for example, joint venture brands have introduced models such as Sailou and sold more than 50,000. After this wave came, the independent brands still have to put more pressure on them.

Therefore, BYD, Chery, Geely, the Great Wall and the seahorse must be careful. They really are, he originally bought 200,000 more than 100,000, he disdains to earn tens of thousands. When we look at this very compelling case, his 10,000 yuan, a few thousand dollars of profits will also be earned. With his brand advantages, technological advantages, market advantages, the second wave of motorcycles has reached a climax, independent brands Can't stand it anymore. However, I believe that the third wave of time is the independent brand. Therefore, we are brewing motorcycles and we must set off a third wave of preparations to meet their challenges.

Netease Automobile: Just now you mentioned the matter of cooperation with Subaru. I ask. Standing on the stand of Lifan and standing on the stand of the municipal government, do you still want to have a successful cooperation with them?

Yin Mingshan: It can be said that we want to cooperate with Subaru. We want to cooperate with any other company that may come to Chongqing.

Netease Automobile: Still want to reach such a cooperation?

Yin Mingshan: Making money is natural, I also want to make money. This is our common goal, so we may sit down and talk. However, we will still be honest and work, and we must invest in our own independent innovation of our own brands. I myself should say something slightly better than the others. I don't have such arrogance.

Netease Automobile: Lifan is still more pragmatic.

Yin Mingshan: So I said that 300,000 vehicles are the target of 2015.

Netease Auto: This point is a little bit like a Guangdong company.

Yin Mingshan: Because I once worked in a company in Guangdong, I learned a lot of technology and made a remark that earning, developing, accumulating, and accumulating technology are very important.

"If you can afford to be a chairman, if you do not have enough conditions, you will become a major shareholder. How much will you divide?"

Netease Automobile: You just said that you are 73 years old this year. As a private entrepreneur and a family business, did you choose your successor?

Yin Mingshan: Every company wants sustainable development and wants to build a century-old store. However, there is a cruel reality that China is called rich for three generations.

Netease car: There is this saying.

Yin Mingshan: This is not an argument, but a very cruel objective fact. So the choice of a successor is related to whether or not you will be able to go through three generations in the future and whether it can be sustainable. So I always think that my family is just a major shareholder. I have now sold a part of my shares and I have sold a lot of stocks. I may end up It will reach 51%, and it may finally retreat to 34%. At a critical point, the last 34% will not come. Since this is the case, why do I have to be the boss of my family? This is a good model. I think that the company has lasted more than 100 years and is very stable. The financial crisis has caused GM and Chrysler to endure the hardship. I think the fundamental reason is that they have not trained generations of successful successors.

The study of Ford's successors was for a moment the Ford family, not for a while, and for a while. To establish a rule, do not necessarily pass it to the family, nor do they necessarily pass it to family members and pass it on to outsiders. There are people in the family who can be the chairman of the board. Ford's most successful is the chairman of the board of directors. It is between people outside the family and the family, constantly alternating, so that its talents continue to thrive, and companies can develop sustainably.

Netease car: So you refer to this model?

Yin Mingshan: Yes, refer to this model. Of course, I also have to carefully train my family because they are a continuation of my life. Weak parents in the world, who do not love their children? Not enough conditions? I often teach them that if you can afford to be a chairman, you will be a big shareholder if you do not have enough conditions.

"I think I'm always happy in the automotive industry and always optimistic"

Netease car: Review your journey, how do you sum up your own?

Yin Mingshan: I have outlined myself and always be an optimist. I am optimistic. I think that I am always happy in the auto industry and always optimistic. I will always believe that we will have a day of development and we will have a prosperous day. A person living in this world, to succeed and his attitude has a great relationship. So attitude is everything.

NetEase Car: For the younger generation, what experience do you have for contemporary young people?

Yin Mingshan: See more and read the brighter side of life. If you see a lot of dark side, but I see more than you. I stand taller. I see more problems, but if I am uncomfortable myself, I am like an angry youth every day. I spend a lot of time delaying, and the time for study and the time for work are delayed.

Guest Profile

Demonstrating Yin Mingshan's legendary life from the prisoner to the guest

January 1938, was born in Chongqing Fuling.

1952 - 1958, studying in Chongqing.

1958-December 1978, the transformation of a chemical plant in Chongqing.

From January 1979 to March 1981, he served as the English teacher of the Design Institute of Chongqing Municipality and the chief of English teaching and research at the University of Hong Kong.

February 1983 - February 1985 editor of Chongqing Publishing House.

From April 1986 to April 1991, he was the chairman of Chongqing Changjiang Books and Magazines.

In January 1992, Chongqing Hongda Vehicle Fittings Research Institute was officially established.

In December 1997, Lifan Group was officially established.

In 2002, he was elected president of the Chongqing Municipal Chamber of Commerce and Industry.

In 2003, he was elected Vice Chairman of Chongqing Municipal Committee.

In January 2006, Lifan 520 successfully held a global synchronous listing conference in Chongqing.

In July 2008, Lifan joined hands with the United States (AIG) International Group, which was transformed from a private enterprise to a joint venture.

In December 2008, Lifan signed a donation agreement with the Tibet Caigong Township Primary School, marking that Lifan has donated 100 glorious schools nationwide.

On November 25, 2010, Chongqing Lifan’s shares were successfully listed on domestic A shares.