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Breaking down and pinching out vitality Zoomlion's exploration of property right system reform

breaking up and pinching out vitality Zoomlion's exploration of property right system reform

China Construction Machinery Information

Guide: at the beginning of its establishment, Zoomlion carried not only the ambition of entrepreneurs to serve the country through industry, but also the historical task of China's scientific research system reform. Over the past 22 years, the reform of corporate governance structure with equity diversification as the core under the specified conditions has run through the process of Zoomlion's science and technology industrialization, industrial science and technology and enterprise globalization

at the beginning of its establishment, Zoomlion carried not only the ambition of entrepreneurs to serve the country through industry, but also the historical task of China's scientific research system reform

in the past 22 years, the corporate governance structure reform with equity diversification as the core has run through the whole process of Zoomlion's technology industrialization, industrial technology and enterprise globalization, realizing the maximization of the value of shareholders, society and state-owned assets

in 1996, Zoomlion's products were continuously recognized by the market, and its performance was ready for listing. This year, zhanchunxin, as the legal representative of Zoomlion, also took the post of president of China Construction Machinery Institute

"at that time, there were two options for reform: first, Zoomlion separated from the Construction Machinery Institute and started a new business; second, it adopted 'one set of people and two brands'."

"'The palm and back of the hand are all meat ', choose the second path!" In this way, the Construction Machinery Institute led by Zhan Chunxin and Zoomlion are integrated into a community of "lips and teeth depend on each other and share the same interests". The research institutes (offices) affiliated to the Institute of construction machinery are under the jurisdiction of Zoomlion and become the scientific research and development center of its subsidiaries. Scientific and technological personnel are fully engaged in research. Soon, a large number of technologically advanced and market-oriented scientific research achievements came out one after another

however, with the incorporation of the institutions and personnel of the construction machinery institute into the Zoomlion, the old habits of "units" under the old system began to spread in the Zoomlion: arranging seniority according to seniority, setting posts according to people, and eating big help to develop more potential utilization pots for other industries... The system drawbacks accumulated over the past few decades have restricted the further development of this new enterprise

"in carrying out the reform of the scientific research system, we must not lose one traditional state-owned scientific research institute under the planned economic system, but also one more traditional state-owned enterprise." Zhan Chunxin is soberly aware that the only way to solve the deep-seated contradictions is to establish a modern enterprise system

1997, under the guidance of the Ministry of construction, the joint-stock reform of Zoomlion kicked off

however, the transformation from a public institution to a joint-stock enterprise was resisted by the researchers of the Institute of construction machinery. "I am still a national cadre today. How can I become an enterprise employee tomorrow? What if I lose my job?"

The emancipation degree of productive forces depends on the emancipation degree of people's ideas. In the face of the old personnel structure of the Institute, only by "breaking and pinching" the original management mode can new vitality burst out

1997, the Construction Machinery Institute implemented the internal personnel system reform of "all laid-off workers compete for posts". The number of administrative departments was reduced from 14 to 7; All personnel files of formal employees shall be sealed up, and all employees shall be employed competitively and paid according to their posts; Employees who fail to take up their posts, regardless of their original levels and qualifications, can enjoy basic wages and social insurance within three years while continuing to look for jobs while participating in skill training

1999, taking advantage of the enterprise transformation of national scientific research institutions, the Institute of construction machinery fully completed the reform of the property right structure of Zoomlion and restructured it into Zoomlion, a joint-stock scientific and technological enterprise controlled by the Institute

in 2000, Zoomlion successfully entered China's A-share market and became a public company

restructuring cannot be achieved overnight

at this time, the Construction Machinery Institute was regarded as "three dissimilarities": neither scientific research institutes under the Ministry of construction nor public institutions of Hunan provincial government; At the same time, the contradictions in enterprise management have gradually emerged: state-owned enterprises are "dominated by one share", and employees' enthusiasm is not high

the "model" of the reform of scientific research institutes in China is facing new tests

in November, 2004, the Institute of construction machinery began to implement the phased restructuring

in October, 2005, the Construction Machinery Institute completed the corporate transformation and became a limited company absolutely controlled by state-owned capital. Its Chinese shares account for 94.1% and its employee shares account for 5.9% (policy incentives for the appreciation of state-owned assets of scientific research institutes)

in may, 2006, the state owned assets supervision and Administration Commission of Hunan Province listed and transferred 32.1% equity of the Institute. Among them, 24.1% was transferred to the management team and key employees (Yifang technology and Changsha Hesheng Technology Investment Co., Ltd.), and 8% to Hony capital. The shareholding structure of the Institute has been transformed into: 62% owned by the state, 30% owned by the management and key employees, and 8% owned by financial investors

in 2007, the Construction Machinery Institute sold the operating assets related to its main business to Zoomlion, realizing the overall listing. Liquidation and cancellation began in June

on the last day of 2008, the spray free bumper came into being. Hunan Provincial Administration for Industry and Commerce issued the notice of cancellation of registration, allowing Jinan micro Vickers hardness testing institute to cancel its registration. So far, after more than 50 years of journey, Changsha Institute of construction machinery has completed the history of undertaking. It was once a national scientific research institute and the birthplace of industrial technology, and finally fully integrated into Zoomlion

Zoomlion has therefore become an overall listed company without a parent company, and has built a multinational operation system with diversified equity and scientific governance structure

in 2010, Zoomlion H shares were listed on the Hong Kong stock exchange

through continuous system reform, Zhan Chunxin led Zoomlion to complete the "three-level jump" from research institute to state-owned enterprise, joint-stock company and global company, becoming the only a+h-share listed company in China's construction machinery industry

Zoomlion has built a "community of interests" platform for the state, the collective and the individual through the reform of the enterprise's property right structure

the institutional obstacles have been eliminated, and science and technology has released great power under the modern enterprise system. Within six years after the introduction of strategic investors, Zoomlion's operating income increased from more than 4 billion yuan to 90.2 billion yuan in 2012, and its profit and tax increased from 757million yuan to nearly 12billion yuan

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