Starting with the investment of 4,000 Yuan,
the founder, Mr. LU Guanqiu,
successfully transformed an agriculture machinery repair factory into a multinational enterprise.
1970’s
Be realistic and seek for innovation.Utilize local workforce, second-hand equipment, diversification strategy, local market.Company daily revenue reaches 10,000 Yuan, employee’s highest annual earnings break 10,000 Yuan
1980’s
Base on domestic market, make attempts to international markets, optimize internal management, and focus on daily routine works.Company daily revenue reaches 100,000 Yuan, employee’s highest annual earnings break 100,000 Yuan
1990’s
Group strategy in general concept, accounting system in details, capital operation module, and internationalized market.Recruit nationwide, hire foreign employees in the oversea markets, use top facilities, and products sell to the global market.Wanxiang’s daily revenue reaches 1,000,000 Yuan; while employee’s highest annual earnings break 1,000,000 Yuan
New Millennium
Group strategy in general concept, accounting system in details, capital operation module, and internationalized market.In 2009, Wanxiang’s daily revenue reaches 10,000,000 Yuan; while employee’s highest annual earnings break 10,000,000 Yuan
Business Story
“Tenfold in Ten Years”
By 2019, Wanxiang Group’s daily revenue should reach 100,000,000 Yuan;
while employee’s highest annual earnings shall break 100,000,000 Yuan
One inspiring motto could generalize the development of Wanxiang --- “Tenfold in Ten Years”.
The “First Decade” starts from the birth of Wanxiang to the late 1970’s. The baby giant used diversification business strategy and the so-called “Factory-Style” production module. There were many multifarious products, such like: coulter, rake, bearing, cardan joint, and so forth. Till the end of 1970’s, there were already more than 300 employees, the annual output value has exceeded 3 million Yuan. The company realized daily revenue of 10,000 Yuan, and the employee’s highest annual earnings break 10,000 Yuan.
The “Second Decade”. In 1980’s, Wanxiang started to concentrate on producing cardon joint, and established a “Main-Factory-Style” of linear functional management system, consequently improved efficiency. During this period, the cardon joint from Wanxiang came to the fore in the domestic market, and been selected as one of the three designated production enterprise. By the end of the 1980’s, the company’s daily revenue reached 100,000 Yuan; employee’s highest annual earnings broke 100,000 Yuan.
The “Third Decade”. In 1990’s, the management mode of Wanxiang changed from “Main-Factory-Style” to “Group-Style”, as a result, the company had an explosive growth. Due to the growth, the company started to produce more kinds of products, and the products upgraded from components to assembly units to system. All the specialized production, serialization products, Modular supply are realized. Within this third decade, the company’s daily revenue reached 1,000,000 Yuan; employee’s highest annual earnings broke 1,000,000 Yuan.
The “Forth Decade”. Entering the new millennium, Wanxiang Group’s traditional manufacturing businesses continued its rapid development, and became the leader in the China’s automotive components manufacturing industry. On the other hand, Wanxiang Group also set foot into and got breakthrough development in finance, service, modern agriculture and so many other areas. As a consequence, it gradually became a modern enterprise group. Till 2009, the company’s daily revenue reached 10,000,000 Yuan; employee’s highest annual earnings broke 10,000,000 Yuan.
In 2009, the 40th anniversary of Wanxiang Group, the company proposed the continuation of the company motto “Tenfold in Ten Years”. Until, 2019, the company’s daily revenue may reach 100,000,000 Yuan; employee’s highest annual earnings shall break 100,000,000 Yuan. In order to attain that goal, Wanxiang Group must rely on clean energy industry.
