Cao Honghai Wuxi Jiangsu Took Over 2 Companies

Cao Honghai of Wuxi Jiangsu Took Over 2 Companies

Cao Honghai, a newly rich man in Wuxi, Jiangsu, was ordered to take over the company at the age of 27 and is now worth 4.6 billion. Life took over the company, now worth 4.6 billion.

 

Entrepreneurs emerged in the private economic market

As the saying goes, the waves behind the Yangtze River push the waves ahead. With the development of the times, a large number of young and promising entrepreneurs have emerged in the private economic market. 

Compared with the traditional entrepreneurs of the older generation, these young soldiers have they have a sharper sense of smell and insight into new things, and their appearance has injected infinite vitality and vitality into the development of the private economy.

 

Jiangsu Wuxi

In this issue of "Biography of Old Horse Business Legends", the big name in the business world brought to you by the editor is Mr. Cao Honghai, an outstanding young entrepreneur from Wuxi City, Jiangsu Province. 

It is reported that Mr. Cao Honghai's personal wealth mainly comes from the high-tech enterprise at the helm of him - Wuxi Chemical Equipment Co., Ltd. 

It is included in the rich list, but we calculated based on the existing reliable data and found that at present, Mr. Cao Honghai's personal worth is conservatively estimated to have exceeded 4.6 billion yuan. Then, Lao Ma will lead everyone to get to know this outstanding Wuxi private entrepreneur.

 

Early experiences

He is a model worker in Jiangsu Province and Wuxi City, a young and middle-aged academic and technological leader in Jiangsu Province, the second prize of the Ministry of Education's Science and Technology Progress Award, and the first prize of China's industry-university-research cooperation innovation achievements. 

Award: the third prize winner of National Energy Administration Science and Technology Progress Award.

In July 1977, Cao Honghai was born in an ordinary working-class family in Wuxi County, Jiangsu Province (now Xishan District, Wuxi City). 

His father, Cao Qisheng, was one of the earlier batch of entrepreneurs in Jiangsu to go to sea to do business after the reform and opening up. Cao Honghai grew up in a relatively wealthy family. After graduating from high school, he was sent to Canada by his father to study.

 

 

Cao Honghai

The origin of the Cao Honghai family and Xizhan shares can be said from 25 years ago. In 1997, the Wuxi Chemical Equipment General Factory, which was originally a collectively-owned enterprise, was insolvent and on the verge of bankruptcy due to poor management. His father, Cao Qisheng, led the factory. 

More than 80 workers of the company raised funds together, took on the debt owed by the factory, and took over the management responsibility of the factory, thus embarking on the road of entrepreneurship.

 

In danger

In 2004, Cao Qisheng was in poor health, and Cao Honghai, who was studying in Canada, resolutely interrupted his studies after receiving the invitation from his father, and was ordered to take over the banner of enterprise management from his father. 

At the time of taking over, the company was still small in scale, with poor profitability and uncertain development prospects. The outside world also maintained a skeptical attitude towards this 27-year-old "young marshal". 

Cao Honghai introduced the innovative ideas and methods he learned from abroad into enterprise management, insisted on developing new technologies and new products, and took the development path of scientific and technological innovation.

 

 

Cao Honghai defied public opinion and invested a lot of money in R & D

He defied public opinion and invested a lot of money in the research and development of high-efficiency heat exchange equipment. 

After day and night, he led the team members to overcome many difficulties and finally created a sintered high-throughput sintering type with completely independent intellectual property rights. 

The heat exchange tube products broke the monopoly of foreign companies in one fell swoop, successfully filled the gap in the domestic market, and gradually established the industry benchmark status of Tin Packing Co., Ltd.

 

Grow and develop

Perhaps due to his years of overseas study experience, in terms of the market, Cao Honghai adheres to the development route of "internationalization", takes Europe as a breakthrough, and gradually extends the market of tin equipment shares to many developed countries such as the United States, Canada, Singapore, Japan and so on. 

When faced with the "encirclement and suppression" of powerful foreign companies, he chose not to back down, but to continue to increase investment in technology research and development, and to fight to the end with these foreign rivals, for "Made in China" and "China" The "creation" force went out to sea and made an immortal contribution.

 

 

Tin Packing Shares

Now, since Cao Honghai took the helm, after nearly 20 years of deep cultivation and precipitation in the industry, Tin Packing Co., Ltd. has gradually grown into a world-leading metal pressure vessel R&D, design, manufacturing, sales and related technical services and overall solutions supplier. Its products are widely used in petrochemical, fine chemical, natural gas, marine engineering equipment, nuclear energy, solar photovoltaic and solar thermal power generation and other fields.

 

Highlight moment

On September 20, 2022, Cao Honghai led Tinzhan Co., Ltd. to successfully land in the capital market and successfully listed on the Shenzhen A-share main board. 

The success of this listing not only opened a new page in the history of enterprise development, but also made Cao Hong a success. Since then, Hai has successfully entered the ranks of "billionaires". 

After taking over the company for 18 years, he ushered in a "highlight moment" belonging to his business era. 

As of the press release of Lao Ma, the total market value of tin equipment shares has exceeded 6.5 billion yuan.

 

 

Tin outfit shares listed on Shenzhen Stock Exchange

According to the information disclosed in the low-key prospectus document of the tin equipment shares to the Shenzhen Stock Exchange, before this listing, Cao Honghai directly held about 78.75% of the company's shares as a natural person and had absolute control over the company. 

After the issuance of new shares to dilute, this figure has dropped to about 59.06%. 

Calculated based on the current share price of tin equipment, Cao Honghai’s personal worth has skyrocketed by about 3.9 billion yuan during this listing journey.

 

Tin Packing Shares

In addition, we also reviewed the financial reports of Xizhuang Co., Ltd. in the past six years. The data shows that from 2017 to 2021 and the first half of 2022, Xizhuang Co., Ltd. has achieved net profit of 47.58 million yuan, 83.41 million yuan, and 1.67 million yuan. 100 million yuan, 193 million yuan, 229 million yuan and 128 million yuan. Calculated based on the value of the shares currently held by Cao Honghai, plus the dividends corresponding to this part of the net profit, at present, Cao Honghai's personal worth should be at least 4.6 billion yuan or more, which also just proves that we are in the article. The conjecture about its worth data at the beginning.

 

 

Cao Honghai and Entrepreneurship

For entrepreneurship itself:

Firstly, we must have a keen sense of smell to detect the business opportunities hidden around us.

Secondly, we must have the courage to be the first to put our ideas into action.

Thirdly, we need to have a clear and clear understanding of ourselves and the company. Positioning, understand what you are good at and what you want, success is not accidental.