I used to think that the best way to evaluate a company was whether it was listed or not. However, after staying in the company for a long time, and having a clearer understanding of the company's development strategy, development goals and future plans, and then combining the company's situation with a comparative analysis of the pros and cons of going public, my attitude towards evaluating the good and bad of a company by going public has changed, and I'd like to take this opportunity to share with you my personal understanding of why Komman is not going public now.
First of all, it is important to state that going public is not the ultimate goal of a company, nor is it the only criterion for evaluating whether a company is good or bad.
There are excellent companies that go public, and there are excellent companies that do not go public. By and large, going public is a process of corporate development and a very good corporate management system. A truly excellent company will not take going public as the ultimate goal; it is simply a process of corporate development. Komen has never said that it will not go public, but only that it will not go public for the time being. Komen is in the process of development, and it is not suitable for going public now.
Why is it not appropriate to go public now? This is closely related to the company's values, that is, Komen believes that it is good or bad to go public now. Our company leaders often put Mr. Lu Xun's words on their lips: "You can eat this egg as long as it tastes good, you don't care who laid it." Used in Coman is: "The product is sold to you to use on the line, you think the product is good, reasonable price and good service, you buy Coman products, why do you have to care whether it is listed or not listed companies it?"
First, Coman does medical equipment, belongs to the medical equipment industry. The medical device industry is an incomplete market behavior. For example, if people make a steamed bun or make a piece of clothing, inside the supermarket is five dollars cheaper or ten dollars cheaper, immediately sold; or like Liu Qiangdong do Jingdong, need a large amount of money to quickly buy a car, build warehouses, improve the supply chain response speed, these are a complete market behavior. Medical equipment is related to the core of the human being: life and health, a product out is not a question of high or low price, nor is it a question of good or bad quality, it has a process of research and development, certification, listing and promotion, so it is not a complete market behavior.
Secondly, the industry characteristics of medical equipment and product characteristics, as well as marketing methods, is also an incomplete market behavior. The characteristics of medical device products are strictly regulated by countries around the world. It is not a cell phone that can be sold as soon as it is produced to make a phone call. Medical devices have a strict regulatory system, and the characteristics of the product dictate that money is not the only thing that can drive a product to market quickly. Like Komman is currently developing a respirator, invested five or six years to research and development, even if made this year, but also three years to market, which has a strict regulatory process, which is not a capital can solve the problem.
Third, the capital itself is flawed. Medical devices belong to the high-tech industry, talent is the most important. Like Huawei, it is about the knowledge-based economy. Knowledge-based economy is the economy of knowledge, advocating the use of knowledge, high-end talent to promote the development of the company. Capital economy can not replace the knowledge-based economy. Our company has always advocated learning from Huawei, Huawei emphasizes the return on contribution, the greater the contribution, the higher the return, through the contribution, the return on both sides of the force to promote the company's forward development. For enterprises, talent is the most important, with knowledge as the basic economy to promote the development of the company. Relying on knowledge, relying on talent is our development, with the contribution of results to feedback talent. Like Mobay and other do *** enjoy bicycle, need to quickly finance to take money in to buy a bicycle, this is called the capital economy. But medical equipment is different, for example, our company is developing a respirator, without good talent, even if there are ten billion won't be able to do it. Knowledge-based economy is the ultimate reward system that our company advocates, where the company contributes back to the talent according to the size of the contribution, and the talent in turn pushes the company forward.
It is undeniable that the economy can promote technological progress to a certain extent, but from the point of view of the characteristics of the industry, the capital itself on the development of the medical device industry and promote the role of the limited, which is why Komman did not list the value of the problem. Capital itself is profit-seeking, the purpose of capital to enter the pursuit of profit, he does not care how the development of the company, he wants everyone to exit after the listing, and then determine the next goal to chase. Komman belongs to the high-tech development enterprises, capital to the development of the company's biggest problem is short-sightedness, capital pursuit of short-term benefits.
As a graduate student majoring in journalism and communication, I could have chosen the new media industry and become part of the 100,000-plus creation trend, but eventually I entered the medical equipment industry, which is unrelated to my specialty, to engage in copywriting work, and the reasons for this will not be repeated, but I came here and have not regretted it, and a large part of the reason for that is because of the influence of the company's leadership and development philosophy. I remember that shortly after entering the company, I had the honor to speak with one of the company's senior leaders. After inquiring about my specialty, he gave me this quote: "There are a lot of leaders in the traditional media, or new media industry, and you have a graduate degree, but how sure are you that you can make yourself a leader in this industry? Whereas if you work in the medical device industry, where you have very few peers, you have every opportunity to become a top talent in this specialized niche." The lure of such an opportunity for me was indeed not small. But what really attracted me in the end was the company's top-to-bottom commitment to implementing the concept of leadership in every development strategy and in every action.
The ultimate ideal that Komen wants is the development of a timeless business. For the company, this may sacrifice short-term benefits, but it has long-term development and greater benefits. For example, the company's ventilator has been in development for five or six years, with more than a dozen engineers, four doctoral students in it, and 20 to 30 million dollars spent on it, all of which is consuming the company's profits. If the capital comes in, the capital will require each year to realize how much profit, if you can not reach the profit, then only to cut the respiratory machine, which affects the long-term development of the company's business.
Why doesn't Komen go public at this stage? Because the company is now focusing on products, users and employees. The company's focus is now on how to do a good job of the product, to serve the user well, to do a good job of the market behavior, and to improve the treatment of employees. Now Coman is a small company in this industry, it is too late to spend more energy to cope with capital. The advantage of not going public lies in the company can purely focus on the main business; there is a greater benefit is the rapid response, in order to the company's development goals, can quickly mobilize the company's resources to focus on a particular goal.
There is a staged process in the development of a company. I think Komen is not going public now because it has big dreams and bigger ambitions, and the company doesn't see going public as the ultimate goal. Maybe one day Komen will go public, and when that stage comes, the company will go public.