The health beautiful group that having 38 years of histories (A of deep Kang Jia, 000016.SZ) want transition. This company plans erasure to consume the label of electronic domain, turn and make innovation of a science and technologyDrivecast control platform company.

Not only hereat, kang Jia still lets his thought flow freely to realized battalion to receive 60 billion yuan 2020, breed 3 battalion to had controlled the new industry of one billion four hundred and ten million and sixty-five thousand four hundred and eight, make 1-3 the company appears on the market outside new churchyard, finished battalion to receive 100 billion yuan 2022.

To implement these grand plans, kang Jia should sign area of freshness garden of industry of 5 old science and technology newly in itsInvestment43 billion yuan. In the meantime, the company marchs environmental protection and semiconductor industry, position of prospective general key is energy-saving environmental protection, semiconductor, new the domain such as material, still will timely enter the field such as car of big health, new energy resources, 5G.

As a result of each program backside is involved large-scaleInvestment, kang JiaCapitalPressure all is shown. Want to know, kang Jia comes from 2011 2018 first quarter, appear continuously deduct the loss after blame.

Span to this kind layout of type ground dilate, one does not wish speak bluntly of the personage inside the course of study of sign one’s name ” breakneck, pace is stridden a bit greatly ” . Many analyst also thinks, investment ability of Kang Jia and financing ability all do not support his to undertake multinomial nonrelevant diversity develops.

But in Kang JiaPresidentZhou Bin looks, at present sets Kang Jia to run on what circuit, too early still. “Layout 5 to 6 circuit, the likelihood has 34 to run, everybody can know Kang Jia is what company at that time. ” Zhou Bin says.

Program of transition of big span strategy

“Kang Jia has been made those who give to be a purpose in order to span with dilate is brand-new development strategy program. ” Zhou Bin expresses.

The health beautiful group with state-owend enterprise strong colour, wanting broken above all is system is manacled, implement mixture ownership reform in the round namely. Mix change means to include to adopt a company to make reform, introduceThe strategy investsPerson, employee is held, asset andOperationReapportion and move the way such as asset reset.

Kang Jia is existing ” 3 old 6 new ” business, “3 old ” business reachs mobile phone business for color television, white report respectively, at present color television business is mixed correct afoot, introduce clearlyThe strategy investsPerson direction, kang Jia is muchMediaOf business ” limited company of science and technology of electron of Shenzhen Kang Jia ” give a shop sign formally; White cable business will make administrative layer oppose a plan, run an in the round promotion through driveOperationLevel of management, at the same time the butt joint invests a bank, search strategical investor, the key pays close attention to industrial capital kind investor; Mobile phone business had been finished mix change, kang Jia is occupied 51% , administrative group is occupied 49% , will carry out 2 times at the same time mix change, introduce new strategy investor actively. Zhou Bin did not disclose the strategic investor of intent.

Wait as to environmental protection business, Internet business ” 6 new ” business, undertake establishing in order to mix form of system of ownership in the beginning of hold water namely. In Kang Jia’s program, “6 new ” also make exert oneself point.

The Chongzhongzhi of health beautiful transition is business diversity development again. Compare with posture of industry of other home appliance, the diversity in tentative plan of health beautiful group is outward and outspread antenna more, more extensive. And this are denounced by the place inside course of study just about.

Zhou Bin expresses, health beautiful group will with strategical burgeoning industry is given priority to, layout has appeal of more expensive estate, accord with Kang Jia attribute and with other business board piece the new industry that has synergism.

New industry includes Wu of 4 great undertaking group group, it is respectively ” business of division of garden of science and technology group ” , ” industryProductBusiness group ” , ” platform serves business group ” , ” castCapitalBusiness of be in harmony group ” .

Business of division of garden of science and technology group development thinking is relatively clear already. Kang Jia already with Chu city, satisfy government of door of guest of peaceful, Nanjing, appropriate, sea to sign collaborationAgreement, farther join forces develops business of division of garden of industry of science and technology, 5 bigAreaProject total investment will be as high as 43 billion yuan.

IndustryProductBusiness group respect, kang Jia announces to establish department of ministry of career of environmental protection science and technology, career of semiconductor science and technology, position of prospective general key is energy-saving environmental protection, semiconductor, new the domain such as material.

This among them, with Kang Jia correlation spends taller upriver business semiconductor to be worth to pay close attention to.

Well-known, semiconductor also is ” burn money ” industry. How does doubt defeat the hi-tech doorsill of bureau semiconductor industry and high fund doorsill to the outside, kang Jia professes, can use ” cleverer way ” will do semiconductor business.

“Kang Jia makes semiconductor is not an empty hole invites the wind-weakness lends wings to rumors, ” the health beautiful group of business of semiconductor of be assigned personal responsibility for deputyPresidentLi Hongtao expresses, “Go up in CES this year Kang Jia is the chip that released 8K, and the innovation large award that this chip wins CES. We are being laid in all the time, these reserve are done not have previously civil change, but we have an advantage. “

Health beautiful itself also is put in many semiconductor demand, kang Jia 2017Purchasesemiconductor amount probably 1 billion dollar, “Be close to next year 10 billion (RMB) , future can outstrip the growth of 30% every year 5 years. This is very large body amount, mean conductor of our company half-and-half to have digestible energy power. ” Li Hongtao still says, semiconductor itself also has very bigThe market.

According to introducing, kang Jia will be comprehensive layout semiconductor design, semiconductorMake, semiconductorEquipment, the industrial catenary such as semiconductor material, the product direction of the key is net of couplet of memory chip, content parts of an apparatus, photoelectricity parts of an apparatus. Li Hongtao still discloses, can release to follow the chip of content couplet net related biology identifying this year.

Zhou Bin expresses, kang Jia should use 5-10 year time, ascend body international is outstanding semiconductor company cavalcade, devote oneself to to become company of conductor of before China 10 most, year battalion has received one billion four hundred and ten million and sixty-five thousand four hundred and eight yuan.

If say Kang Jia enters semiconductor industry to still calculate follow a rational line to do some work well, that marchs span of environmental protection industry is bigger. What is the reason of the choice? How to solve a lot of bottleneck such as technology, capital, resource, talent? Environmental protection how does as other as Kang Jia business produce synergism? This is the issue that Kang Jia needs to reply.

Ministry of career of science and technology of health beautiful environmental protection has pointed business way ” water pollution prevents and cure ” , ” air pollution prevents and cure ” , ” solid flotsam processing and reclaim rework is used ” , ” soil contamination processing and rehabilitate ” wait for popular domain.

Kang Jia expresses great expectations to environmental protection business, the target is 1-2 the fact inside year is battalion to close 8 billion – 12 billion yuan. Zhou Bin still hopes to use 3-5 year time, concoct high end of a home’s top-ranking dimension of environmental protection carryBrand, realize year of battalion to close 18 billion – 26 billion yuan strategy goal.

Zhou Bin says, enter environmental protection industry, kang Jia is having natural advantage. These advantages include, of setting of center look forward to prop up, adequate capital preparation and good industry cooperate with.

But public figure of a few trades thinks, these reason are not quite sufficient. It is the basis that ends setting of look forward to can’t make trade of sortie environmental protection; 2 it is capital respect, kang Jia is difficult also character advantage. Cooperate with as to the industry, look nowadays environmental protection industry also is correlation is spent not tall.

Chase after heat probably, with sending gift is Kang Jia the real reason place of business of layout environmental protection. “Major center look forward to already had business of layout environmental protection. ” Zhou Bin is being accepted when interviewing, express.

In addition, sort of environmental protection industry is various, industrial catenary is complex and diversiform, environmental protection appears on the market the company is in more water, gas, earth, solid is useless, monitor, the domain choose such as processing one or enter twice, like Kang Jia this kind comes up ” sweep the deck ” the enterprise is rarely seen.

Notable still is, old business pace already developed to stagger in environmental protection industry, scope is very limited. In classification of Shen Mohang industry, project of the water Wu below public utility category, environmental protection and serve two stature industries to appear on the market in the company, only 3 appear on the market the company did business 2017 income has realized one billion four hundred and ten million and sixty-five thousand four hundred and eight yuan, it is respectively 3 get together environmental protection (300072.SZ) , green jade fountainhead (300070.SZ) and new abstruse share (600803.SH) . Kang Jia is returned this not introductory environmental protection ” recruit ” , the battalion that hopes environmental protection business contributes one billion four hundred and ten million and sixty-five thousand four hundred and eight dimensions inside two years closes, its difficulty cannot call not quite.

Of Kang Jia ” ambition ” more than still these.

Zhou Bin discloses even, kang Jia will be timely ” the domain waits in net of couplet of car of big health, new energy resources, big data, content, 5G ” have key position. Kang Jia puts forward to locate from personal core is ” should become to innovate with science and technologyDriveplatform company ” .

Zhou Bin expresses to interfacial news, early days enters new industry, much meeting chooses with the form that buys, joint-stock company still includes to establish later wait for means. “The innovation of mechanism system brings huge extra dividend to us, kang Jia is a platform, welcome of all kinds partner to cooperate with Kang Jia. “

Look at present, course of study of put into production of health beautiful place ” have appeal of more expensive estate ” accomplished at this o’clock really, each industry all is industry of blast tuyere heat, but whether does partial business accord with Kang Jia attribute, and with other business board piece generation synergism, this are worth deliberate.

Each battalion that careful comparative Kang Jia puts forward receives a target to be able to discover, put in a few mysterious place among them.

Kang Jia plans to realized battalion to receive 60 billion yuan 2020, breed 3 battalion to had controlled the new industry of one billion four hundred and ten million and sixty-five thousand four hundred and eight. According to annals of A of deep Kang Jia, the company did business 2017 gross income 31.2 billion yuan. This is meant, 3 years course of study of health beautiful original owner is holding future every year 30 billion yuan of right-and-left dimensions, add on 3 battalion to had controlled the new industry of one billion four hundred and ten million and sixty-five thousand four hundred and eight,

How had these 3 battalion received the industry of one billion four hundred and ten million and sixty-five thousand four hundred and eight to distributing? Environmental protection industry is firstly, zhou Bin already made clear 1-2 the fact inside year is battalion to receive 80-120 100 million yuan. Semiconductor industry appears to be not listed in its, because Zhou Bin’s target is 5-10 year time semiconductor business year battalion receives ability to cross one billion four hundred and ten million and sixty-five thousand four hundred and eight yuan. So,

“Investment chief inspector had seen 500 many projects. ” Zhou Bin expresses. Probably the answer also amid.

“One billion two hundred and fifteen million seven hundred and fifty-two thousand one hundred and ninety-two battalion close is a doorsill probably, burn one’s boats, let go one wrestle. Went, kang Jia still is Kang Jia; Be impassable, kang Jia perhaps made the history. ” personage of one state-owend enterprise expresses to interfacial news. Current state-owend enterprise reforms a process to be being accelerated ceaselessly, annex recombines between the state-owend enterprise carry reducing an amount character is big trend. In be operated actually, judge assetQualitydifficulty should be more than judgement asset dimensions far, because this operation becomes a main target.

Nevertheless, not be all let go the business of one wrestle can succeed. As we have learned, the battalion that ever put forward 3 years to come true to rush to reach 200 billion yuan high from hundreds 100 million dimensions with respect to look forward to having center several years ago accepts a target, hundreds 100 million bad Zhang are formed to be recombined finally however after radical dilate.

Lessons drawn from others’ mistakes

This strategy transition, health beautiful group has begun to hit last week the brand of Bin.

Hired the president that assume office through contest this last year, was born 1979, compare Kang Jia only big a year old. Before this, he ever held the position of camp of health beautiful battalion to carry management center chief inspectorAssistant, assistant inspector general, chief inspector, trustee bureau chairmanAssistantCarry holding battalion concurrently a lot of post such as management center chief inspector.

AcceptMediaWhen interviewing, zhou Bin has oneself and other company contrast frequently, advantage of oneself of not stint fine number. As to transition result how, who unknown.

Go ten years, kang Jia in home appliance industry downfallen trend is behaved quite apparently. Be like nonfeasance, industry position drops, enterprise dimensions and gain ability are in drop.

Liang Zhenpeng of personage of observation of home appliance industry thinks, kang Jia’s biggest question is, in the field that personal classics enters, did not do good far. Business line fact of Kang Jia is not little already, black report, white report, mobile phone, small home appliance, but air conditioning, freezer, washing machine, without before can accomplishing a trade euqally 3, before linking a trade 10 enter very hard. The fist product that even if is Kang Jia — color television also fails to enterThe marketBefore 3.

It is with mobile phone business exemple, kang Jia is to enter bureau person company of prior of mobile phone industry. However, after managing 18 years, battalion of business of health beautiful mobile phone closes to still did not exceed 1 billion yuan.

In store of health beautiful government, health beautiful mobile phoneThe priceDiffer to 1999 yuan from 179 yuan, machine of much money old person, the mobile phone of 1000 yuan of above has 4 only.

In outstanding achievement respect, beautiful, did business of division force and sea Er 2017 income all exceeds 150 billion yuan, kang Jia already looked at its a person’s back, gully is filled hard. Industry of bypass home appliance 3 tycoons, with color television board piece industry posture is compared, kang Jia is not one-up also.

TCL group (000100.SZ) one billion two hundred and fifteen million seven hundred and fifty-two thousand one hundred and ninety-two yuan of col already were broken through before battalion closes to be in early 4 years, sichuan long rainbow (600839.SH) although be in downfallen trend together, battalion closed to also have seventy-seven billion six hundred and thirty-two million yuan last year. What be worth to be carried most is sea letter electric equipment (600060.SH) , sea letter electric equipment is in battalion closed to be in 30 billion yuan of echelon formation together with Kang Jia 2017, obtained those who exceed 700 million yuan to buckle profit of the net after blame however, CostRise considerably, outstanding achievement falls greatly the nearly 60% data later. Meanwhile, kang Jia deducted the loss after blame 2017 nearly 100 million yuan.

Kang Jia comes from 2011 2018 first quarter, successive 7 years another quarter appears deduct the loss after blame, also explain its advocate business Wu already was old deficit.

To Kang Jia, transition is inevitable choice actually. But this to Kang Jia transition plans, photograph of much cool detachment of trade public figure looks. The core reason that does not value is not had outside at 2 o’clock, one span is too big, 2 money come from which.

Liang Zhenpeng thinks of Kang Jia ” circuit says ” breakneck, “This is blind diversity ” .

Liang Zhenpeng expresses, great majority of transition of home appliance company is relevant diversity development, also can have nonrelevant diversity development now and then, for instance the mobile phone business of division force. Kang Jia this transition, what involving business is nonrelevant diversity mostly. Nonrelevant diversity is opposite for the risk is bigger, unknown number is higher.

In home appliance enterprise, sea Er, beautiful diversity thinking is clear. For example, sea Er great majority layout is domain of home appliance IT, about a hundred kinds of a few product such as computer, mobile phone with sea Er advocate correlation of course of study is spent very tall. Move toward industrial robot domain beautifully, because of its him itself also should turn to intelligenceMake, PurchaseIndustrial robot.

Look in Liang Zhenpeng, now is not to rely on to break money to be able to enter a market, without the technologyPatent, affirmative meeting encounters a competitorPatentBlock.

Embark on a journey hard also through bought way. “Truly good technology, the company with true strong competition ability, others won’t sell you. ” Liang Zhenpeng expresses.

Dirt of pace of Liu of personage of another the observation inside course of study also holds similar point of view. “The circuit that you prepare is more, explain energy is more dispersive, capital demand is bigger, cong Mou is planted also explain administrative layer is unsharpness to future on degree. This is not a favour, because every circuit needs the investment of talent, energy and money. ” Fang Hongbo ever also offerred beautiful group president ” track ” , but carry the 2nd runway only, in an industry prepares besides home appliance, namely robot industry.

“My active to Kang Jia strategy holds so not positive view. Kang Jia from without serve as abrupt between the movement is big, look in me transition pace is stridden so that have a place too big. ” Liu Buchen says, “Transition accuses to cast model group of industry of science and technology, with the industry that the purpose enters, come round to see Kang Jia be not done almost from eye. “

To Kang Jia the one billion two hundred and fifteen million seven hundred and fifty-two thousand one hundred and ninety-two battalion 2022 accept a target, liu Buchen speak bluntly, “5 years battalion closes turn over double above, kang Jia does not have something made to order. ” did not undertake venture gains is evaluated, did not cut the financing source that has safeguard truly, the data that rely on a concept only and has is forecasted, its are no point as a result.

Those who be based on pair of health beautiful transition is anxious, two industry observation personages happen to coincide mention another once home appliance tycoon — Chun Lan share (600854.SH) .

20 centuries 90 time, chun Lan air conditioning is not had in industry limelight 2, almost every sell a two stage air conditioning to have is Chun Lan air conditioning, relatively the city of division force air conditioning of instantly is occupied rate is high still. Chun Lan begins technology of sortie autocycle, medium-sized lorry, energy, ice to wash later, the domain such as batholith of investment of TV, IT, finance, car and compressor, be about to make ” Chun Lan is Caesarean ” .

After the road of the diversity that experienced dynamic, did not stand fast advocate the Chun Lan group of course of study already was close to retreating city nowadays, battalion closed 2017 only 819 million yuan of dimensions, newest market prise is not worth 2.5 billion yuan.

Too numerous to mention one by one of lessons drawn from others’ mistakes. Outside dividing Chun Lan group, brilliant temporarily bay the enterprise of a lot of home appliance such as electric equipment of dragon of group of Ke Ma, cygnet, division also is after diversity, new advocate industry competition not do one’s best, dominant position of original owner industry is lost, be reduced to poverty comes to be bought.

“This is a lesson, these enterprises are to break down was in highbrow, exceed oneself capacity, the irrelvant diversity that pursuit exceeds high speed to develop. This kind of risk is very huge. ” Liang Zhenpeng expresses, nearly two years happy inspecting also is a very outstanding example. “A lot of enterprises close down recombining main reason is too anxious diversity. Accordingly Kang Jia still is should a few more careful. “

Capital difficult problem

The another main reason that does not value to Kang Jia inside course of study is how to solve capital difficult problem.

Kang Jia only investment of garden of industry of science and technology has 43 billion clear yuan, if there are 3 new industries to be able to achieve the battalion of one billion four hundred and ten million and sixty-five thousand four hundred and eight level to close inside two years,

Liang Zhenpeng is mentioned, kang Jia plans to need a large number of capital to throw now, but this devoted plan exceeds its annual net gain far. Loan invests, easy endowment not pay a debt in kind or by labour, annual net profit is difficult also countervail accrual.

From Kang Jia oneself outstanding achievement looks, it is difficult to show serve as somewhat. Although health beautiful vest in appeared on the market last year,the net gain of company shareholder exceeds 5 billion yuan, but gain dispute is regular be caused by of increase and decrease. 2017, health beautiful is in make over course of study of buy of Shenzhen city Kang Qiaojia town to invest limited company 70% equity achieved one-time earnings of a huge sum.

Old since, health beautiful asset is indebted lead tall look forward to. Came 2010 indebted rate all was in asset 2015 75% the left and right sides, peak value was reached 2016 80.75% . This is in higher level according to be in the person of the same trade, ju Kangjia with the asset 2016 indebted rate was home appliance board 2015 piece first of each company. This is not a good number. Sold 2017 child after gaining profit, indebted rate fall after a rise reachs the capital fund of the company 65.20% . But this but one cannot again.

“Very long in the past period of time, kang Jia is the enterprise with gain poorer ability, others gain, his deficit; Fasten gain of National People’s Congress, he is small gain. Health beautiful oneself does not have so much capital, can living, also be the support of city of parent company overseas Chinese. ” Liu Buchen says, accordingly Kang Jia can use exterior fund only.

“Pure be born inside the former some that relies on oneself accumulate, it is insufficient. ” Li Chunlei of chief inspector of finance affairs of health beautiful group also realizes this problem.

Nevertheless, kang Jia thinks he already had perfect to prepare.

Above all, it is the support of city of large stockholder overseas Chinese. “Kang Jia is to appear on the market the company, strong support that has large stockholder, in capital respect so Kang Jia is deficient in, capital in order. ” Li Chunlei says, began what group of overseas Chinese city gives Kang Jia nearly 10 billion yuan of scope to give a letter 2015, exceed short be in harmony to be able to be brought through sending oppositeCostInferior capital.

Next, the financing of ceaseless and outspread oneselfChannel. “Will tell at present, we want to be able to undertake through partner capital signs up for the business that negotiable securities of stock capital fund turns, the fund that garden of the loan that include a property and buys, science and technology develops, and before the partial industry of garden of science and technology, we have when cast considering ‘ collect ‘ and ‘ retreat ‘ . “

“In addition, financial orgnaization is confident also to us. ” Li Chunlei expresses.

To this, analysis of Liu pace dirt says, strength of support of town of overseas Chinese of health beautiful parent company won’t be very great. Come, the investment of industry of semiconductor, environmental protection is very big; 2 come, itself of overseas Chinese city also is not company of count as one of the best in real-estate industry; 3 come, of overseas Chinese city oppose a scale only 21.75% , its help also is met very finite.

Kang Jia is widening through all sorts of means financingChannel, and carry out quite rapid.

On May 22, a of deep Kang Jia (000016.SZ) announcement, the company plans to be not open hair not to exceed 5 billion yuan of debenture all right, the plan is used at repaying to have the side such as breath debt and compensatory circulating fund.

With day, health beautiful group shows, plan to begin negotiable securities of assets of receivable Zhang fund to turn business, the plan issues dimensions not to exceed 1 billion yuan. This action can reduce receivable Zhang money to be opposite of company capital take up, increase company assets liquidity.

“5 billion yuan of debenture can be given out, or hind word. ” Liu Buchen expresses, all along of traditional home appliance enterprise lacks financing capacity, beautiful, capability of division force profit is strong, capital market is filled with to the city that reach rate still low, need not carry Kang Jia more. “The gain ability that Kang Jia goes is too poor, can successful financing is very difficult. “

Frequency of incident of break a contact of near future debt is unripe, the enterprise sends debt to die. Oriental gardens (002310.SZ) be about to send debt 1 billion yuan, only collect gets 50 million yuan,

An analyst thinks, investment of semiconductor industry, environmental protection trade is larger, although succeed financing 5 billion yuan solve a problem hard also. “Capital still can have very big gap ” , his analysis says.

On 2 class market, investor also gave out to the transition of health beautiful group oneself manner. Past a week, a5 of deep Kang Jia closes 21 days month go up, fast fall after a rise pours later, clinch a deal the quantity is day-to-day and atrophic, drop repeatedly 5 trade day, accumulate drop 7.05% , run be defeated by grail index.

On May 25, a of deep Kang Jia returns occurrence brushstroke convert into money a large amount of trading, clinch a deal 3 million, clinch a deal valence 5.37 yuan, relatively that day convert into money of closing quotation value 7.89% , relatively before convert into money of closing quotation value 10.05% .

Visible, face a company to release ” heavy pound ” profit is good, capital market mood also is hesitant, a little anxious still to foreground even.