Foshan Lighting Zhongxin Cai’s new chairman Pan Jie took office

Zhong Xincai’s curtain call

20 years of dividends written into history

After hosting the annual shareholder meeting of Foshan Lighting, Zhong Xincai, the chairman of Foshan Lighting for 49 years, completed his final mission in the company.

Foshan Lighting was formerly the state-owned Foshan Bulb Factory, and Foshan SASAC was the largest shareholder. In 1993, the company successfully listed and became the first listed company in Foshan. Since its listing, Zhong Xincai has been the chairman and general manager of the company.

After 2002, the company's shareholder structure changed. After Zhong Xincai repeatedly took over the company's high-level application for the failure of MBO (management buyout) for Foshan Lighting, on August 31, 2004, Foshan SASAC and Osram Prosperity Holdings Co., Ltd. respectively. Signed a share transfer contract with Hong Kong Prosperity, Osram Prosperity accounted for approximately 13.47% of the total share capital, and Hong Kong Prosperity accounted for approximately 10.50% of the total share capital, respectively becoming the first and second largest shareholder of Foshan Lighting.

Subsequently, in the second half of 2008, Zhuang Jianyi transferred the 39.86% equity of Osram Prosperity held by its subsidiary, Youchang Lighting Equipment to OSRAM, which was equivalent to indirectly transferring 13.47% of Foshan Lighting to OSRAM. Osram became the major shareholder of Foshan Lighting.

Although the controlling shareholder of the company has changed, the status of Zhongxin in Foshan Lighting has not been shaken in the following period.

In the past 20 years since the listing of Foshan Lighting, the company has a large proportion of cash dividends each year, with a total cash dividend of more than 2.944 billion yuan, and the company's total financing amount is only 1.010 billion yuan. The ratio of the total amount of cash to the total financing amount is 2.92. In the capital market, the distribution plan of 3 yuan for every 10 shares was introduced in the same year. In the following 19 years, the annual dividend has never been interrupted by cash dividends. In the most year of 1994, every 10 shares were distributed at 8.1 yuan (including tax), and in the lowest year, there were also 2.2 yuan (tax included) for every 10 shares.

The new chairman emerged

Pan Jie took office

From the perspective of the new board members of Foshan Lighting, it has the characteristics of professional and younger. Prior to his appointment at Foshan Lighting, Chairman Pan Jie served as CEO of Greater China for General Electric's Power Generation and Water Treatment Group, and three of the board of directors worked at General Electric.

The reporter found that Liu Xingming, the company veteran, served as the company's vice chairman and general manager. It seems that even if Zhong Xin left, but Liu Xingming, a veteran of Foshan Lighting, will still play a role in stabilizing the situation.

It is worth noting that another director of the company, Yang Jianhu, and financial director Yin Jianchun also came to General Electric. Yang Jianhu is a Ph.D. in Optoelectronic Materials Science, Shanghai Institute of Optics and Mechanics, Chinese Academy of Sciences. From July 2004 to April 2009, he worked at General Electric (China) Co., Ltd., and in May 2009, he served as Technical Director of General Electric Hangzhou Times Lighting Co., Ltd. . Yin Jianchun previously served as Director of Global Financial Planning Analysis for the Energy Electronics Division of the General Electric Group.

Targeting strategic change

Among the qualifications for the board of directors to vote for the board of directors, one thing is more interesting, and it must have rich experience in leading the strategic transformation of the company's business.

GM's lighting companies have always been committed to providing revolutionary innovation products, and LED GM has always been the industry leader.

Foshan Lighting's LED started late, there is no first-mover advantage, but its brand and channel advantages in the lighting industry are still there. The company said that in 2013, it will continue to increase investment in LED lighting products from R&D, production and sales. It is not difficult to see the true intention of introducing the general manager.

For the introduction of the general department of Foshan Lighting, the reporter interviewed professionals in the lighting industry. The other party revealed that the introduction of general-purpose executives can not only enhance the company's brand value and management level, but also leverage the experience of world-class companies to bring management innovation and technological breakthroughs to the company.

How does the company's new chairman Pan Jie find a balance point in the company's veteran, Hong Kong's actual controller Zhuang Jianyi and Osram's triangular relationship, and lead the company to achieve a strategic transformation to achieve better development, the industry said it will wait and see!

Pan Jie: born in 1971, holds a bachelor's degree in electric light source from Fudan University's Department of Light Source and Lighting Engineering, graduate student of Chinese Academy of Sciences, Shanghai Institute of Technical Physics, Chinese Academy of Sciences, master's degree in optics and optoelectronics, Fudan University School of Management / B1-Norwegian School of Management Master's degree. From March 2001 to June 2009, he worked as a general manager of the Asian Lighting Business at the General Electric Company Consumer and Industrial Products Group. From July 2009 to March 2011, he worked in the US Lingxiao Electronics Co., Ltd. Regional CEO; from April 2011 to June 2012, working in the GE Energy Electronics Division of the United States, as the head of Asia Pacific for Energy Electronics; July 2012 to present, working for GE Power Generation and Water Treatment Group, GE - CEO of Water Treatment Group Greater China.

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