Li Feilie's Truth about Wuhu

Wuhu Hengxin Group was originally a large state-owned enterprise mainly engaged in copper refining and copper processing, with three branches and one subsidiary. 1998, the group established Xinke New Materials Co., Ltd. with its excellent assets and went public in 2000.

200 1 Wuhu set off the climax of state-owned enterprise restructuring. As a package agreement, Wuhu City will match the advantages and disadvantages of Hengxin Group, Port Company, Wuhu Paper Net General Factory, Haifeng Chemical and Fanchang Aluminum-Zinc Mine, and package investment as a whole. This move attracted a large number of private enterprises such as Zhejiang Shanshan Group and Fujian Tian Li Investment Co., Ltd. to participate in the acquisition, and Wuhu Commercial Aircraft was just one of them. However, the fundamental factor that ultimately decides whether to stay or not is their respective acquisition methods. Shanshan Group and Tian Li Investment proposed direct acquisition, that is, direct acquisition of listed companies with excellent assets, rather than acquisition of non-listed companies with asset losses, while Wuhu Commercial Aircraft proposed indirect acquisition, that is, indirect acquisition of listed companies through acquisition of parent companies. The reporter also found the data of "Statistics of Retirees' Wages Outside the System in 2004" in the trade union of Hengxin Group: In 2004, the medical subsidies, medical insurance premiums, rents and utilities of the retirees of Hengxin Group were distributed to a total of 6,543,800+0.5 million yuan, with a per capita distribution of 2,032 yuan. In the face of a reporter's question, Cheng, deputy general manager of Hengxin Group, told the reporter: "According to the requirements of restructuring, we must first buy out social functions such as employees and debts of Hengxin, and then gradually divest it. However, in order to stabilize the interests of employees, Comac has not divested its social functions so far, and all expenses such as staff hospitals, staff canteens, water, electricity and gas are borne by enterprises. This is unimaginable for a private enterprise that has not yet gone out of losses! "

The reporter tried to understand how much benefit he got from Hengxin, but was quickly interrupted by Cheng's anger: "This kind of media hype is extremely unfair to Hengxin. Although the benefits of Hengxin after the restructuring have been growing rapidly, due to many historical factors, Hengxin is still in a state of loss. Comac supported Hengxin many times when it was short of funds. 200 1 provided funds of 654.38 billion. It is reported that at the recent workers' congress, Li Feilie once said, "I will invest 200-300 million yuan in Hengxin in the next two years. If the enterprise fails again, it is your responsibility. " Afterwards, many leaders were deeply ashamed and heavy. According to the data, the net profit of Xinke Materials was 4.2 million yuan in 2002, 122 1000 yuan in 2003 and15.93 million yuan in 2004.

It can be seen that in the case of a sharp rise in copper raw materials, after Comac moved in, the performance of new materials continued to improve.

In the copper rod production workshop, many employees actively expressed their views when reporters questioned some media accusations against Comac and Xinke. Some people call it "irresponsible". They believe that the turbulence in the early stage of company restructuring is inevitable. After COMAC came in, it broke many original unreasonable systems and established more effective employee incentive mechanism, competition mechanism and budget management mechanism. Wage income is linked to cost and performance, which eliminates the confusion of overstaffing. In particular, the company decided to establish a marketing system and increase project investment, which solved many bottleneck problems for many years. Although it will lead to a decline in benefits in the short term, it is of great significance in the long run.