The Development Cause of Simo Motor

 

However, except simo motor, from a horizontal point of view, the development of the non-public economy in our city has yet to reach another level, and the influence of the non-public economy needs to be further expanded. Starting today, we will focus on the outstanding non-public economic organizations in our city.

 

Some of these enterprises have an important position and role in the economic and social development of our city. Some have unique characteristics in business philosophy, management model, and institutional mechanism innovation. Some have enhanced their market competitiveness by focusing on brand concepts, energy conservation and emission reduction, and technological innovation. , While developing ourselves, we do not forget to give back to the community and pay attention to social welfare undertakings.

We capture their brilliance, but we are willing to provide useful reference for the non-public economic development of our city. Xi'an Simo Motor Co., Ltd., a well-known company in Xi'an, everyone who is familiar with it knows that this company has changed its name twice. The two company name changes also reflect the huge thrust brought by the system reform to simo motor. The predecessor of Simo Motor is Xi'an Motor Factory, one of the three major motor factories in the country.

 

Like many large state-owned enterprises, it has also created brilliance in the era of planned economy. However, since 1993, the mechanism has been inactive, the management has been backward, and the market share has declined year by year... Xi'an Electric Motor Factory has gone downhill and is in danger of being eliminated by the market. In 2002, a reform quietly emerged in the motor factory, streamlining the organization and compressing personnel.

 

The new leadership team started from changing the old management model of state-owned enterprises as "large and complete", divesting the social functions of the enterprise, and establishing various special self-operated and self-financing subsidiaries to bring non-main businesses to the market, and outsource casting, forging and other processes to reduce the burden on the enterprise. In the year of reform, it turned losses into wins.

 

In 2004, after tasting the fruits of the successful reform for the first time, the restructuring of Xi'an Motor Factory took a greater step. They were to be transformed into a limited liability company. The two southern enterprises associated with the electric motor factory and the 31 natural persons in the factory held the shares together, and the state-owned assets were withdrawn at once. This is also the first state-owned enterprise in Shaanxi Province to be completely restructured. They succeeded. Without adding a burden to the government, Xi'an Motor Factory was restructured into "Simo Electric (Group) Co., Ltd." As a whole. The vitality of non-public ownership is reflected in the enterprise, and the mechanism is more flexible. The piecework wage system for workers has changed the situation where people were frivolous in the past, and the heavy rewards for technical R&D personnel have stimulated the climax of product innovation.

 

The production economy of the enterprise has developed rapidly and healthily. In 2006, Simo Motor has become a leader in the industry. In 2007, in order to solve the capital bottleneck encountered in the further development of the enterprise, Simo Electric was restructured into a joint stock company for the second time. This share transformation has attracted attention in the manufacturing industry. A number of companies inside and outside the province want to take shares. Sany Heavy Industry, a well-known domestic equipment manufacturing giant, has also heard the wind and invested more than 15 million shares. What it sees is the potential of Simo Motor's development. At the end of 2007, the new Simo Electric (Group) Co., Ltd. was born. Now it is a group enterprise composed of a core company and 12 subsidiaries.

Today's Simo Motor is the second largest output in the domestic motor industry. More than 1,800 varieties of products are exported to 40 countries and regions. The industry has grown at the fastest rate for seven consecutive years. Profits and taxes increased from 9.46 million in 2000 to 75.8 million in 2007, and the income of employees has also nearly doubled; in 2007, it reached 1.2 billion total assets and annual sales revenue of 2 billion yuan. On the other hand, the other two state-owned enterprises that were once ranked among the top three domestic motor factories at the same time, one has withdrawn from the motor industry, and the other has been restructured late and is currently operating in a dismal manner.

 

In 2008, Simo Electric was busy with one thing, which was listing and financing, hoping to make the company bigger through direct financing. In the first half of the year, under the strong recommendation of the municipal government, Simo Electric has ended the listing counseling period and is waiting to participate in the approval meeting of the Securities and Exchange Commission. At the same time, the company plans to expand after going public.

In 2010, the group's sales revenue reached 3 billion yuan, and strive for 5 billion yuan. The merger of Inner Mongolia Motor Factory, Shandong Zhangdian Motor Factory... The blueprint of Simo Motor will be launched throughout the country. [Comment] The development history of Simo Electric can be condensed into a few words, reform, reform and then reform. They not only pursue the interests of large state-owned enterprises, but through restructuring, break the conservatism, and take out their own assets to attract foreign companies to participate in stocks; they do not take the indirect financing of bank loans, and actively prepare for direct listing financing. It is bold attempts over and over again that have made today's industry leader. Making full use of one's own institutional advantages and constantly innovating mechanisms are the cornerstone of the development of non-public enterprises.