20131On October 29th, 65438+ Lin Jinfeng announced that it would increase its holdings of Maotai (the exact amount has not been announced). This is the first time that Lin Jinfeng has invested in Maotai for ten years, and it is also the first time in the past three years.
1989, Lin Jinfeng, who was still in senior three, accidentally walked into the Shenzhen Stock Exchange with his father and never left. Before going to college, Lin Jinfeng read all the books about financial principles. When he was a freshman, Lin Jinfeng started his first investment with a tuition fee of 6,000 yuan. By the time he graduated from college, Lin Jinfeng was already a millionaire.
In 2003, he founded Shenzhen Xin Ying Investment Co., Ltd. (later Xin Ying Investment Group). In the past nine years, its net worth has increased by more than 20 times, with a compound annual growth rate of 42.04%, which greatly outperformed the market. 20 1 1 year, he turned his attention to the field of asset management, and Xinying Ruifeng Investment Management Enterprise was founded by Xin Ying Group.
It is no accident that Lin Jinfeng invested in Maotai. Before investing in Maotai, he studied the prospectuses and annual reports of all listed companies in the liquor industry, and even the small notes on the materials were not spared. Before the listing of 200 1 Maotai, Lin Jinfeng paid attention to it for five years, and also paid attention to liquor enterprises such as Wuliangye (the last sought-after liquor at that time) and Tuopai. He did a lot of work when he clearly took Maotai as the research object: he had a one-day discussion with the manager of Maotai Shenzhen office and Maotai dealers. Conduct consumer surveys, go to shopping malls every weekend, and interview all consumers who buy wine, including understanding why they buy red wine/yellow wine instead of white wine, why they buy Wuliangye instead of Maotai, and so on.
During the investigation, a' consumption experience' touched him greatly: "People who have drunk Maotai have a high preference for Maotai and will continue to buy it, but their loyalty to other wines is not so high." This is not reflected in the annual report or any materials, but comes from personal surveys of hundreds of consumers.
It is out of this comprehensive investigation and study that Lin Jinfeng decided to buy Kweichow Moutai. "At that time, almost all the funds were invested." Lin Jinfeng was one of the first investors to buy Maotai. He has held it since the end of 2003. Recalling the first time I attended the Maotai shareholders' meeting, the scene at that time was still vivid: "I was invited by Maotai to go from Shenzhen to Guiyang, and then I took a seven-hour mountain road to Maotai Town. I met a large number of senior executives such as Chairman Ji Keliang and General Manager Yuan Renguo, and they received me very warmly. "
Since it was acquired in 2003, Kweichow Moutai has brought rich returns to Lin Jinfeng. In the past nine years, Lin Jinfeng has not sold a single share. In 2003, Xin Ying Investment was the sixth largest shareholder of Maotai. Over the years, various fund companies have come and gone, and Lin Jinfeng has always been unmoved. 20 12, 10, maotai 2065438+. 20 13 1, Lin Jinfeng, the tenth largest shareholder of maotai, announced that he would increase his holdings in maotai.
In 2007, Lin Jinfeng invested in liquor enterprises again and became the second largest shareholder of xifeng liquor, Shaanxi.
In mid-September, 2009, Shenzhen Xin Ying Venture Capital Company officially acquired 0/00% shares of Anhui Shuanglun Liquor Co., Ltd. According to the listing information of Anhui Bengbu Property Rights Exchange, the reserve price of this transaction was 209 million yuan, and the actual purchase price was about 400 million yuan. In addition to 209 million yuan of brand and infrastructure, it also includes nearly 200 million yuan of liquor assets and other assets. On August 20 1 1, Lin Jinfeng became the chairman of Shuanglun Liquor Industry. From 20 12, 1 1, the myth that liquor will not fall in the bear market was shattered. Regarding the plasticizer problem, Lin Jinfeng said that in the process of wine production, some links come into contact with plastic products, which may lead to plastic dissolution and lead to the problem of plasticizer exceeding the standard.
In addition, regarding the problem of liquor overcapacity and liquor inflection point that investors are worried about at present, Lin Jinfeng thinks: "The golden decade of liquor industry has passed, and it is impossible to grow like this. The 30,000 liquor enterprises in China have been expanding their production in the last five years, and the market supply exceeds demand. The competition will be more intense. "
But for high-end liquor such as Maotai, he is still optimistic. "In fact, every industry has good enterprises and poor enterprises. Why do we still insist on holding Maotai? Because Maotai has been innovating and has always been the leader in the liquor industry, the potential behind it is still relatively large. "
As for Shuanglun Winery, Lin Jinfeng, as the chairman, doesn't care how much money Shuanglun can earn in the short term, but hopes to have long-term value. "We are committed to making the best wine in China. As long as the quality is improved, we will naturally make money. " In Lin Jinfeng's view, industry is the foundation of national economic development, and industry, entrepreneurs and innovation are the future of the country, not the financial and capital markets.
In the long-term thinking of years of investment, Lin Jinfeng summed up the "two wastes" in the current market-"too many people waste money on speculation; Young entrepreneurs believe that giving up industry is a waste of asset allocation in the whole society, which also leads to the loss of industrial base in China. "
In September 2009, Xin Ying invested 400 million yuan to acquire 0/00% shares of Anhui Shuanglun Liquor Industry/KLOC, and completed the shareholding system reform in three months. Two-wheel liquor industry has completed the enterprise system transformation with the fastest speed and the most thorough solution to the problems left over by assets among Anhui liquor enterprises. On 20 1 1, Lin Jinfeng was appointed as the chairman of Shuanglun Liquor Industry and fully participated in the operation and management of Shuanglun Liquor Industry.
20 12 is the third year of Jiro's political reform. Since the establishment of 1949, this once the first state-owned winery has grown with * * * and China * * *. Over the past 60 years, it has experienced ups and downs: after the struggles in 1999 and 2000, Jiro released "Blast Furnace Home" to break the dilemma.
Three years after Xin Ying bought Jiro, Jiro has undergone earth-shaking changes. Under the background of reorganization, Erlang is seeking a new future through new planning: establishing a new management team, establishing a perfect modern enterprise system, researching and developing new products, and perfecting product lines ... to provide a strong impetus for Erlang's development. From 2008 to 2009, despite the cold snap of the global economic crisis, the two-wheel wine industry maintained steady growth. June 20 10, two-wheel liquor industry readjusted its product structure, taking the "blast furnace" brand as the core, and created a series of blast furnaces, blast furnaces and blast furnaces in a harmonious year. Among them, "blast furnace home harmonious vintage wine" was born as a new flagship product. 20 1 1 year, the enterprise realizes sales revenue 1 100 million yuan. Among them, the year series products were listed for just over one year, and the sales volume reached 350 million yuan.
All this shows that Xin Ying's motivation for two-wheeled vehicles is not a word "money", but "capital" to push them to a higher starting point.
Lin Jinfeng said frankly that Jiro was different from other liquor companies he invested in. He invested Jiro in business. He will regard Jiro as his own child, support the development of the enterprise, and promise never to sell Jiro.
Lin Jinfeng believes that doing business, like investing, requires long-term goals, long-term concentration and investment. For two wheels, Lin Jinfeng always adheres to the concept of long-term value investment. He doesn't care how much money the two-wheeler can earn in the short term, but hopes to have long-term value. What he often says to the two-round team is: as long as it has long-term value, it must be done; As long as it is beneficial to customers first, it must be done.
Lin Jinfeng attaches great importance to the product quality control of double-wheel wine industry. Shuanglun Liquor Industry has the largest number of sommeliers in Anhui liquor enterprises. Lin Jinfeng emphasized that quality is the most fundamental strategy. Everything that enterprises do today to improve quality can be felt by consumers when they consume, and they can also appreciate the importance that operators attach to production management ability and the sincerity of providing consumers with the best products.
As the chairman of Shuanglun Liquor Industry, Lin Jinfeng thinks that his biggest change to Shuanglun is to make Shuanglun firmly walk on the right road and make progress every day. "I believe that doing everything well will have good returns in the future." This is Lin Jinfeng's philosophy and persistence.