The Success History Of YOUNGOR Li Rucheng

Li Rucheng 30 years

To become the world's largest garment enterprise

30 years ago, he became a worker in the youth garment factory as a placement of educated youth. In the past 30 years, he has led the youth garment factory to explore and develop a small town factory into the largest garment enterprise in the world and set foot in many fields such as real estate, international trade, equity investment and so on.

He is Li Rucheng, chairman and chief executive of YOUNGOR group.

On the occasion of the 60th anniversary founding of the Republic, Li Rucheng recalled his extraordinary experience from the educated youth in the countryside to the industry leader, and recollections of little known past events.

The year turned the tide to show talent.

Born in Shanghai, there are 4 brothers and sisters in the family.

In 1958, when Li Rucheng was 8 years old, his family moved from Shanghai to Ningbo.

At the age of 15, Li Rucheng went to the county of Lighthouse in Yin county to "queue up" for farming.

15 years later, Li Rucheng came to the youth garment factory in 1980.

At that time, the youth clothing factory was built by 20 thousand yuan educated youth settlement fee.

The workshop is located in the basement of the village side stage. The sewing machines are all moved by their employees from their homes. The main business is to produce some shorts and short sleeves for other factories.

With diligence, Li Rucheng was appointed leader of the cutting team soon after he entered the factory.

However, soon after the business was cut off, more than 100 educated youth were unemployed.

At this time, Li Rucheng accidentally heard that a factory in Northeast China needed to find a partner, so he volunteered to contact him.

After many setbacks, Li Rucheng got the fabric processing business.

After returning to Ningbo, the other party sent 12 tons of fabric to be processed. Li Rucheng was both a designer and a dispatcher, arranging all the links properly and properly.

The profit of the factory increased from tens of thousands of yuan to 200 thousand yuan, and the monthly salary of workers rose from 20 yuan to seventy or eighty yuan.

This business in Northeast China has not only made enterprises fail, but also revealed Li Rucheng's potential management and management ability, so that Li Rucheng has won the trust of everyone.

Under the unanimous proposal of workers, Li Rucheng served as director of the youth garment factory.

After Li Rucheng became director of the factory, he had a fully developed stage of managing talent.

At that time, the youth clothing factory had no capital, no technology, no management experience, and he led everyone to take the "learning route".

He aimed at his counterparts in Shanghai and studied and sought cooperation with them.

Under the management of Li Rucheng, the 1982 youth garment factory and Shanghai opened a shirt factory to achieve a horizontal joint venture.

3 years of cooperation have made millions of profits for the youth garment factory, and have also enabled workers to acquire technical and quality management experience.

After digging into the first barrel of gold, Li Rucheng hit the independent brand "Beilun port" shirt in 1986, and was welcomed by the national market.

In the second year, "Beilun port" shirts were notified by the Ministry of Commerce of the state as the best selling products in the country.

In 1989, the annual sales of "Beilun port" shirts reached 3 million.

In 1989, Li Rucheng aimed at the advanced technology and management of his international counterparts, and introduced his partner, Macao Nan Guang, to speed up the development of youth garment factory.

In second years, the youth garment factory was renamed YOUNGOR.

Hundreds of millions of millionaires

In Li Rucheng's eyes, 1993 is a milestone in YOUNGOR's development.

That year, YOUNGOR was converted into

The group collectivization was realized, which laid the foundation for YOUNGOR's listing and development in 1998.

The idea of "pforming YOUNGOR into a standardized joint-stock enterprise" comes from an investigation by Li Rucheng in Hongkong.

In 1988, Li Rucheng's inspection in Hongkong revealed that the joint-stock enterprises in Hongkong had clear property rights and standardized operation of the market mechanism.

This touched Li Rucheng. After he returned to Ningbo, he decided to carry out shareholding system reform for YOUNGOR, a village with unclear property rights.

Due to the constraints of various factors, Li Rucheng's first shareholding reform in YOUNGOR failed at last.

In 1993, the state promulgated policies to speed up the development of shareholding system. At that time, Ningbo was looking for a pilot enterprise to carry out group shareholding.

YOUNGOR has become the first choice pilot enterprise in Ningbo.

When formulating the share allocation plan of enterprise property rights, the problem of the ownership of enterprise property that puzzled Li Rucheng in the first share reform has a good solution this time.

Li Rucheng recalled, "after Comrade Xiaoping's South inspection speech in 1992, the town leaders who came to discuss the stock reform plan were liberated. We solved the property rights problem of assets in 15 minutes.

25% of YOUNGOR's original assets belong to the town, and 75% of the employees belong to the enterprise.

This solves the problem of not previously discussing the ownership and division of enterprise assets.

In March 31, 1993, joint-stock YOUNGOR was officially registered.

Li Rucheng recalled, "from 1993 to 2002, the market space at that time was very beneficial to YOUNGOR after the shareholding system reform. Our sales at that time increased by more than 90% per year, and the profit grew by more than 80% per year.

In 1993, we had only 26 million yuan of assets. Now we have about 15000000000 yuan in net assets and a total market value of about 20000000000 Yuan. At the highest time last year, there were about 70000000000 yuan, which could be flat with Hongkong's Kowloon warehouse.

Let Li Rucheng feel especially successful that this share reform not only solves the problem of ownership of enterprises, but also allows the old employees of the company to hold shares.

He told reporters, "I remember that I put forward a condition: employees must hold shares.

At that time, our retired workers worked in YOUNGOR for more than 10 years, leaving nothing behind. I feel they owe them one.

When the shareholding system was reformed, I invited them all, so that each of them could enter 5000 shares.

Now they have become.

Every year, there are 40 thousand yuan to 50 thousand yuan in dividends.

YOUNGOR has created thousands of millionaires and hundreds of millions of millionaires.

For the development of YOUNGOR, Li Rucheng concluded that the development of YOUNGOR is synchronous with reform and opening up.

From the development of a township enterprise to the present scale, YOUNGOR is regarded as the leader in the industry.

The growth of YOUNGOR is a portrayal of the development of the times and social progress. "We can say that every step of our growth has been benefited from the party's leadership and reform and opening up."