The 59 year old "godmother of Shanzhai machine" created a chip company with a market value of 19.1 billion in Tianjin
2022-04-25
Rong Xiuli, 59, the godmother of Shanzhai machine, gained her first IPO in her life—— Weijie Chuangxin successfully landed on the science and innovation board, with the latest market value of 19.196 billion yuan. So far, Tianjin has its name in the large territory of Chinese chips. With the exposure of this news, the name "Rong Xiuli" has once again entered the public's attention. After all, in the days when China's mobile phone was still in the "functional machine", she, who was born as a cowherd girl, once made the "Shanzhai machine" the second in sales in China, ranking 11th on the Hurun it rich list with a net worth of 4.2 billion yuan. However, after missing the best opportunity for the transformation of smart machines, in the face of the impact of manufacturers such as Xiaomi and Huawei, "Shanzhai machines" have now become old machines. After many years, the former "godmother of Shanzhai machine" began to rush to make cores again. The company was valued at 18 billion yuan before listing (now it has risen to 19.1 billion after listing), and her net worth has also risen by more than 4.5 billion. So this time, when people are in Tianjin, can she succeed in gorgeous transformation? "Shanzhai machine godmother" creates the first share of domestic pa The track chosen by Rong Xiuli is the RF front-end chip. From 2G to 5g, any electronic device with wireless communication function (mobile phone, tablet, wearable device, etc.) will use this kind of chip, and its technology has been undergoing rapid iteration. Rong Xiuli, who once "stumbled" in mobile phone research and development, chose the chip field to start a business this time. She no longer "outsourced" the research and development part, but mastered the technology in her own hands. RF front-end chip is the general name of four types of chips: switch, low noise amplifier (LNA), power amplifier (PA) and filter, among which PA and filter are the most difficult. What really makes Weijie Chuangxin stand out from a group of RF front-end chip companies is the research and development for 4G PA. Since the establishment of Weijie Chuangxin in 2010, the industry has experienced several rapid iterations, from 2G, 3G to 4G. During this period, there have been many competitors for RF front-end chips. In this period of rapid change, Rong Xiuli was keenly aware of the wind direction of the communication industry, resolutely put down 3G, which was still hot at that time, and invested heavily in the research and development of 4G PA. It was also here that Rong Xiuli found the home of Weijie Chuangxin and finally obtained the investment of MediaTek, the "major shareholder". Subsequently, MediaTek brought the business of several mobile phone manufacturers such as huami OV to Weijie Chuangxin, further enabling it to gain a firm foothold in this market. According to the semiconductor industry observation, the purchase amount of PA for the top ten mobile phone clients in China in 2021 was nearly 20 billion yuan, of which foreign manufacturers accounted for about 70% of the market, while the rest domestic manufacturers accounted for about 15% of the market. Weijie Chuangxin has a market share of 15%, close to the sum of other domestic manufacturers, and has made a lot of contributions to the localization of chips. At the same time, Rong Xiuli also pays special attention to R & D when building Weijie Chuangxin team. Dr. Feng Wang, chief technology officer (CTO) of Weijie Chuangxin, graduated from the University of Minnesota and once served as the chief engineer of wireless receiver and transmitter design in Huawei. Lin Sheng and Bai Yunfang, R & D directors, have a master's degree from Fudan University. The prospectus shows that although the company has less than 300 people, the proportion of R & D personnel has reached two-thirds, of which the number of people with bachelor's degree or above is close to 83%. By the end of 2020, the company had invested 591 million in R & D, accounting for more than 20% of its revenue. The company and its subsidiaries had 37 authorized patents at home and abroad and 87 exclusive rights in integrated circuit layout design. Now, when Weijie Chuangxin was listed, it has been known as "the first share of RF PA". Of course, like the era of rapid changes in 2G, 3G and 4G, Weijie Chuangxin also needs to deal with the changes of chip technology in 5g era. In terms of performance, Weijie Chuangxin has been in a state of loss in recent years, and the net profit has not increased synchronously with the operating revenue. All kinds of reasons also led to the poor performance of Weijie Chuangxin on the first day of listing. The stock price suddenly collapsed and broke at the opening. As of the closing, it fell 36.04% and the market value evaporated by 9.6 billion yuan. Even so, the value of Rong Xiuli in this IPO has once again become the focus of many people's attention. According to the prospectus, Rong Xiuli directly and indirectly holds 24.19% of the shares of Weijie Chuangxin. Based on the opening market value of 18 billion, Rong Xiuli's personal wealth will rise by 4.5 billion. People can not help but think of the "glorious moment" when Rong Xiuli ranked 11th with 4.2 billion yuan when Hurun it rich list was released in 2008. Therefore, in addition to the Weijie Chuangxin company listed this time, Rong Xiuli's self-made and ups and downs of the past have once again become the focus of the public. Xueba, born as a cowherd girl Rong Xiuli was born in 1963 in a small village in Xinxiang City, Henan Province. Since childhood, she has shown an unyielding spirit. For example, in the matter of cattle herding, in order to be like the boys in the village, Rong Xiuli sang "who says women are inferior to men" in front of her parents. And her performance is also very outstanding. Not only does she raise the fattest cattle, but also her riding skills are first-class. Therefore, the village gave her a nickname - "rongwazi". After reaching the age of study, Rong Xiuli may also be because of this self-confidence, her grades have been very excellent, and her only dream at that time was to enter the University. Hard work pays off. She finally realized this dream in 1979 and successfully entered the major of internal combustion engine of Hunan University. There are 35 students in the class and only four girls. Rong Xiuli is one of them. In addition to learning, Rong Xiuli is also gifted in sports. When she just went to college, because of her height advantage, she was favored by many coaches of track and field, basketball and volleyball teams. But because she prefers "speed", Rong Xiuli joined the track and field team. It is said that Rong Xiuli insisted on training every day during her university and won the track and field sprint champion of colleges and universities in Hunan Province for three consecutive years. And her record of more than 11 seconds, once maintained, is 10 years. After graduation, Rong Xiuli was assigned to Luoyang Tractor Research Institute because of her excellent grades. Although her daily work is relatively boring, she still insists on not admitting defeat. She competes with her male colleagues for hard work and works overtime. In ten years, Rong Xiuli became a middle-level cadre of the Institute. But at that time, that is, 1992, the times and technology were undergoing rapid and earth shaking changes. Rong Xiuli did not want to keep her one-third of an acre of land and resolutely chose to go to Beijing to study for an MBA at China Europe Business School. That is, during this period of study, Rong Xiuli visited France, Italy and other countries and broadened her horizons. More importantly, Rong Xiuli found her interest in business and sales. The birth of a generation of "Shanzhai legend" In 1993, she entered a small company that operated telephone exchanges and other communication equipment. In the second half of the year, as the largest mobile phone agent in Finland, "Briggs & Fung" had plans to enter the Chinese market, it entrusted Rong Xiuli's company to do research. After some research work, Rong Xiuli thought that the BP machine was the mainstream at that time, but it was very inconvenient (there was no instant messaging), so she suggested that the boss take the agency. However, the development of the market was not as smooth as Rong Xiuli thought. At that time, the mobile phone was called "big brother". Not only the cost was high, but also the signal was not good The final result is that Rong Xiuli's company bears a debt of 1.6 million yuan, and her Hong Kong boss is still preparing to immigrate. But she didn't admit it: After losing so much money, you lent it to me, and I'll repay you usury. Earn money. Why can't you earn it back? I believe that having the confidence to earn money is a good thing for you! In this way, Rong Xiuli took over the inventory of the company and the agency of Briggs & Fung in 1995 and established Briggs & Fung communications. Her company has done a lot of business, acting for Nortel, wholesale and Samsung. Slowly, Rong Xiuli made her first pot of gold. But Rong Xiuli, who makes money, is not satisfied with this - why not make mobile phones alone? So, in 2003, she decided to go upstream and register Tianyu Langtong company. Later, the well-known "Shanzhai legend" Tianyu mobile phone was born. At first, Tianyu mobile phone also tried self research, but the result was a loss of 80 million yuan. Under the pressure of high R & D costs, Rong Xiuli was forced to "outsource" the most important part of mobile phones, that is, chip technology, to MediaTek. As for the reason, it was very simple, because MediaTek was cheap at that time, and it could also provide mobile phone design solutions. Therefore, under the favorable conditions of time, place and people, Rong Xiuli sold 10 million mobile phones in 2006. In 2008, with 24 million sales, it surpassed Jinli and Huawei and stood at the top of the pyramid of domestic mobile phones. In the same year, after Warburg Pincus Investment Group invested 530 million yuan in Tianyu mobile phone, Rong Xiuli also announced: Tianyu will enter the middle and high-end mobile phone market from the traditional middle and low-end mobile phone market. But in 2009, the year known as the first year of China's 3G, the turning point was quietly staged. At that time, the introduction of iPhone by China Unicom opened the curtain of the domestic smartphone market, which also changed the mobile phone channel and made operators more and more important. At that time, Rong Xiuli chose to cut social channels on a large scale... But this decision made Tianyu's sales fall sharply. At this time, in addition to apple, Samsung, Xiaomi, vivo and oppo are already on the stage of history. There is another option, Rong Xiuli also bet wrong. That is, Google withdrew from the Chinese market in 2010. She thinks Google is gone. Who will use Android? So Rong Xiuli resolutely gave up Android and chose Microsoft With the development of the mobile era, the final answer is also obvious. Finally, Tianyu mobile phone will be reduced to the old machine. Later, someone commented that the experience of "godmother of Shanzhai machine" was a channel for success and a channel for failure; Others said that Rong Xiuli failed to grasp the life-saving straw of Android. But there is no doubt that Rong Xiuli and her Tianyu mobile phone did make domestic mobile phones brilliant in those years. Now, it is still the unyielding Rong Xiuli who returns with the chip. Can she continue to write a legend? We'll see. (Xinhua News Agency)
Edit：Li Ling Responsible editor：Chen Jie
Source：QbitAI
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