Create a dolphin
The "hypoglycemic fever" has made the sugar substitute industry soar, and related enterprises have stepped into the track of "sweetness".
In the past month, sucralose, one of the main products of sucrose substitutes, has increased by more than 20%. Jinhe Industry, a leading global artificial sweetener company, has a daily limit for two consecutive days, and the financing balance has reached a new high of nearly one year. Baolingbao, which specializes in "erythritol", also achieved a daily limit before.
It is understood that Jinhe Industry is the main producer of sweeteners acesulfame K, sucralose and flavor maltol, among which the output of acesulfame K and sucralose ranks first in the world. In the national sweetener market of about 6.6665438 billion yuan, Jinhe's sales of sugar substitute is 6.5438 billion yuan, and its strength is beyond doubt.
But in the early days, Jinhe was a state-owned fertilizer plant on the verge of bankruptcy. The brilliant achievements of Jinhe from a small factory to the world cannot be separated from the vigorous development of Yang Yingchun and China sugar substitute industry.
During the period of 1997, the afterheat of the Asian financial crisis still existed, and China's economy declined. At the same time, the small nitrogen fertilizer industry began to lose its former "glory". At the age of 30, Yang Yingchun was ordered by the crisis to abandon politics and go to sea to be the director of Lai 'an Fertilizer Plant.
At that time, the fertilizer plant lost150,000 yuan for the whole year, the assets were insolvent, the employees were worried, and the enterprise was in chaos. Immediately after taking office, Yang Yingchun formulated a competitive appointment system, standardized management, increased subsidies and equity incentive policies to attract talents. At the same time, in order to get rid of the decline of the fertilizer industry, Yang Yingchun encouraged to increase research and development efforts and invest in developing new products.
1999, the company launched the spice production line, which broke the pattern of single production of chemical fertilizer for a long time. Since then, industrial magnesium oxide and melamine projects have been launched, and maltol production technology has been introduced, basically realizing the diversification of product structure.
In 2003, Yang Yingchun bought a chemical fertilizer plant and reorganized its assets to get rid of the old state-owned business model. But it really had a chance to leap from fertilizer production to food additive industry in 2005.
At that time, the patent of the German company Nutrinova on acesulfame K had expired. This gives Yang Yingchun, who has already targeted the acesulfame K market and completed the pilot test through self-research, an opportunity. When his colleagues intensively introduced the production technology of acesulfame K, he immediately launched the production line of acesulfame K on a large scale.
The artificial sweetener acesulfame K produced by diketene is about 200 times sweeter than sucrose. Because of its non-metabolism and non-absorption, acesulfame K is an ideal "sugar substitute" for dieters and diabetics.
It is understood that there have been six generations of artificial sweeteners, and Acesulfame K is the fourth generation. Prior to this, the artificial sweeteners on the market were mainly saccharin, sodium cyclamate and aspartame, but saccharin and sodium cyclamate were listed as prohibited additives in many countries because they did not meet the standards. Acesulfame K became a popular sugar substitute at that time.
With the continuous expansion of scale, in 20 1 1 year, Jinhe successfully landed on the small and medium-sized board of Shenzhen Stock Exchange. In the first year of listing, Jinhe achieved a total operating income of 2.284 billion yuan and a net profit of 65.438+0.82 billion yuan.
In fact, the development of Jinhe is inseparable from Yang Yingchun's precise grasp of every opportunity. In 20 15, Suzhou Haobo, the only company in China that can compete with Jinhe and can compete with diketene and acesulfame K, fell into a loss after its listing failure. In less than two years, it ended in bankruptcy.
Jinhe has rapidly expanded its production and seized market share here. Jinhe's luck doesn't stop there. The shock of raw material diketene industry directly put Jinhe in the spotlight.
Jiangsu Tiancheng, with an annual output of 8,000 tons of diketene in 20 16, was forced to stop production due to environmental failure. In the same year, Ningbo Wanglong Group, the main manufacturer of diketene, also stopped production due to leakage. Major manufacturers have an accident, and the price of diketene has risen rapidly due to shortage.
The biggest competitor fell, and other peers were in trouble because of rising raw materials and had to rely on outsourcing to survive. At that time, Jinhe relied on its own advantages of self-produced raw materials to reduce the cost of acesulfame, and grew rapidly through price war, directly becoming the largest producer of acesulfame.
Today, Jinhe has an annual output of 0/0.2 million tons of acesulfame K, becoming the largest direct supplier of acesulfame K in the world, accounting for more than 60% of the market share, and has reached cooperation with Wahaha, Mengniu, Yili and other enterprises.
And the development of enterprises has also pushed up the value of the helm. According to Hurun Report 2020, Yang Yingchun and Yang Le became the richest people in Chuzhou with a wealth of 7.5 billion yuan.
The success of Ansai Mi made Yang Yingchun firmly believe that she could copy the second and third "Ansai Mi".
After Acesulfame K, it is the fifth generation sweetener sucralose developed by Taylor Company in Britain. Yang Yingchun has never concealed her optimism about sucralose. When expanding the production of acesulfame K, Yang Yingchun wanted to introduce sucralose, but there was no breakthrough in the production technology of sucralose at that time in China.
I wanted to use the existing financial strength to directly acquire related enterprises, but Yang Yingchun, who was quite conscious of R&D, finally chose to give up taking shortcuts and conduct independent research and development by introducing technology. This decision also laid a solid foundation for Jinhe to win the sucralose market later.
In 20 14, Jinhe completed the research and development of a set of sucralose production technology and system, and the trial production was successful. This year, Yang Yingchun also transferred half of her equity to her son Yang Le, who entered the board of directors to prepare for the second generation of succession.
In Yang Yingchun's view, as long as the second generation is willing to take over, the first generation can retire early, because new blood can stimulate the vitality of enterprises. And Yang Le lived up to expectations. Under his leadership, Jinhe's sucralose business gradually expanded.
In 20 17, Yang Le became the vice chairman, and Yang Yingchun began to fade out and focus on behind-the-scenes business. 20 19, Yang Le officially took over. The smooth transition between the old and the new has also maintained the steady development of Jinhe.
Since then, Yang Yingchun's father and son have been fighting in secret, and Jinhe's production capacity has nearly doubled.
The data shows that in 20021year, Jinhe's sucralose production capacity will reach 8000 tons, far exceeding the sucralose creator Taylor, accounting for about 33% of the global total production capacity. In other words, Jinhe Industry will become the double champion of global production of acesulfame K and sucralose.
Although today, compared with DuPont, Dow and Wanhua Chemical, the largest MDI chemical company in China, Jinhe still has a big gap in all aspects. However, in the sugar substitute industry, Jinhe can be described as "dominating one party".
The data shows that in 2020, Jinhe's operating income was 465,438+33 million yuan, and its net profit reached 912 million yuan, making it one of the industry champions with the most stable growth of A shares.
Looking back on Jinhe's success, besides the founder's keen control of opportunities, investment in technology research and development, and always maintaining the "lifeline" of green production, Yang Le, the new helm, also contributed a lot.
Unlike most "rich second generation", Yang Le, who finished his master's degree in finance from the United States, will still stay in the factory wearing blue work clothes.
Before entering Jinhe, he worked in a brokerage investment bank and started his own business. The startup company also went to the New Third Board. It is these experiences that make him more awe-inspiring and cautious about the capital market, thus discovering the importance of doing business in a down-to-earth manner.
Therefore, although Jinhe has strong financial strength, so far, there are still few cross-border investments and mergers and acquisitions. According to Yang Le, Jinhe Club has been focusing on the main chemical industry. Even if there are mergers and acquisitions in the future, it will be for the main business.
Of course, the outbreak of sugar substitute industry has also helped Jinhe a lot.
With "Yuan Qi Forest" becoming the darling of the capital market, the beverage industry has set off an upsurge of "sugar-free" drinks. It seems that with the word "sugar-free", products mean health and fashion.
In order to realize the "sugar-free" of drinks, sugar substitutes are mainly added, which are sweet but do not produce heat. Take Coca-Cola for example. Sucralose has been added to the latest Coca-Cola.
As "reducing sugar" has become the living habit of young people, it will gradually become a trend for sweeteners to replace sucrose. Data show that China is the largest sugar substitute producer in the world, accounting for 75% of the global sweetener production. From the perspective of market space, the market for sweeteners is very broad. Jinhe's future, without accident, can also go up a storey still higher.