Although she only has a secondary school degree and was once a little-known small **, she now has 8,000 patents, earns tens of billions of dollars a year, and once became the richest man in Shenzhen.
Once** commented on her products: "One out of every two high-end mobile phones in the world uses her products. ”
Wu Chunyuan, chairman of AAC Technologies Holdings, is an indispensable and important figure for mobile phone giants such as Huawei, Apple and Samsung.
How did Wu Chunyuan go from a small ** to the position of a billionaire step by step?
My sister's experience from living in secondary school to counterattack.
Many people are not very familiar with Wu Chunyuan's name, and it seems that she is rarely reported in the news, but she is a real billionaire, as early as 2006, she has been on the "Forbes China Rich List", and once became the richest man in Shenzhen.
AAC Technologies, which is co-managed by Pan Zhengmin and his wife, is a leading company in the field of acoustics, providing speakers, earpieces, microphones and other acoustic equipment for smartphones. In other words, these devices fall under the category of their accessories.
Even Huawei's latest top-of-the-line flagship Mate60 also uses AAC Technologies' products for its speakers.
According to relevant information, in the heyday of AAC Technologies, it made annual profits from Apple with tens of billions of dollars, ranking second in Apple's ** chain, second only to TSMC, which fully demonstrates the strength of AAC Technologies.
Wu Chunyuan has achieved a lot of success now, but she is just an ordinary person in the vast number of beings, just like we did more than thirty years ago.
Wu Chunyuan was born in 1971 in Changzhou, Jiangsu Province, and her family is very ordinary, and her parents are ordinary workers.
Many entrepreneurs excel academically at a young age, often winning the top prize in the college entrance examination and gaining admission to prestigious universities.
Wu Chunyuan's grades are not excellent compared to them, after graduating from junior high school, she worked hard, and finally chose to study at Changzhou Health School, which is just an ordinary secondary school.
A few years later, Wu Chunyuan graduated from the health school and found a job related to her profession as a ** in a local hospital. Her life is peaceful and regular, and it seems that everything has been settled.
At this time, she met a math teacher named Pan Zhengmin through a friend's introduction, and the two fell in love quickly, and then became husband and wife. From that moment on, the wheel of fortune began to turn, and Wu Chunyuan was about to usher in a new life.
At that time, the two husbands and wives were still living a peaceful life, but Pan Zhengmin's father, Pan Zhonglai, was very unstable.
As a technician in a machinery factory, Pan Zhonglai is usually keen to study all kinds of gadgets, and can often find some business opportunities.
In 1986, Pan Zhonglai discovered a product called electromagnetic sparkler, which was warmly welcomed by the market. However, Japan does not have the capacity to produce such products, so it needs to rely entirely on imports from Japan.
Out of curiosity, he disassembled several similar products and found that their internal structure was similar, and their implementation principles were not complicated.
Pan Zhonglai immediately told the factory director about this idea, but the factory director did not adopt it after hearing it, but reprimanded him for being whimsical and not doing his job.
Pan Zhong was very angry about this matter, and once it was determined that the plan was feasible, he directly quit his job, and then used all his savings plus bank loans to scrape together more than 100,000 yuan to establish a factory called "Yuanyu Electronic Equipment".
Pan Zhonglai was short of manpower, so he called his son and daughter-in-law to help.
Pan Zhonglai's vision proved to be correct, the domestic electromagnetic announcer was successfully developed soon after, ** cheap and functional, and soon occupied a large number of domestic markets.
In just five years, Pan Zhonglai earned a profit of nearly 3 million, which really shocked everyone.
In order to grow the company, Pan Zhonglai moved the factory to the booming city of Shenzhen, and then founded AAC Technologies on this basis.
At the helm. Pan Zhonglai is now an old man, and his mind is all focused on research and development, so he plans to take a back seat and hand over the company to his daughter-in-law.
After years of observation, he discovered that his daughter-in-law had a better business talent than his son. Now the company has developed to its current scale, and Wu Chunyuan has made great contributions.
Pan Zhengmin fully agreed with Pan Zhonglai's arrangement, and the husband and wife began to divide labor and cooperate, Wu Chunyuan was responsible for enterprise operations, and Pan Zhengmin was responsible for product promotion.
In 1996, the company's business has matured, the market has gradually become saturated, and many companies have begun to catch up, gradually occupying the original market share of AAC Technologies, resulting in AAC Technologies in trouble.
In order to promote the development of the company, Wu Chunyuan and her husband made an important decision - they decided to go overseas to find new customers.
After inspecting the United States for more than a month, the couple found that the market for mobile phone accessories has great potential, especially in the field of mobile phone speakers. With the advanced technology mastered by AAC Technologies, it is not only able to produce mobile phone speakers, but also with excellent quality.
At that time, AAC Technologies was unfortunately only a small factory with no reputation in the world, and no mobile phone manufacturer was willing to give up long-term and stable business to discuss cooperation with AAC Technologies.
The couple encountered a lot of difficulties outside the home and had to return to China early. But they didn't give up because of this, and left their products and business cards every time they went out to visit the manufacturer.
In 1997, there was finally a cross-ocean ** call to AAC Technologies, the other party was Motorola, the giant of the mobile phone industry at that time, and they hoped to discuss a cooperation plan.
What is the connection between a company that is not well-known internationally and a well-known international mobile phone giant?
At that time, there was a financial turmoil in Asia, which affected one of Motorola's parts suppliers, and the company's business fell into crisis.
However, Motorola is planning to launch a new mobile phone product at this moment, and it needs to develop a new custom acoustic device.
Under normal circumstances, Japanese companies must hold a meeting to discuss whether or not to agree to conduct the study. But now they are facing a financial turmoil, so they did not hesitate to refuse.
Subsequently, Motorola contacted several ** companies, all of whom expressed their reluctance to take huge risks to develop new acoustic equipment at this time.
Just when Motorola was troubled by this, a person in charge remembered the products and business cards left by Wu Chunyuan, and found that the quality and level of AAC's products were no less than those of other accessories companies, so he called ** to negotiate.
When Wu Chunyuan received **, she realized that this was an excellent opportunity to open the overseas market, and she agreed without hesitation, so the two sides began their first cooperation.
With the joint efforts of Pan Zhonglai and a group of technical experts, the new acoustic products that meet Motorola's standards were successfully launched, and even surpassed the standards proposed by Motorola at that time, which made them very satisfied, and thus received more orders from Motorola.
Thanks to the efforts of Pan Zhengmin, this news has also made AAC Technologies quickly emerge in the world, and everyone knows that there is such a strong and cost-effective manufacturer in China, and all partners have come one after another.
Wu Chunyuan learned a lot of valuable knowledge through this experience, the most important of which is that she needs to have solid core skills in order to secure her competitive advantage.
She invests huge sums of money every year to establish research institutes around the world and continues to conduct research on cutting-edge acoustic technologies.
With perseverance and hard work, AAC Technologies has accumulated a large number of scientific and technological achievements in the past ten years of development, totaling up to 8,000 items, covering almost all aspects of the acoustic field.
So, when Apple first designed its phones, the first thing that came to mind was AAC Technologies. In the mobile phone industry, AAC Technologies is a presence that cannot be ignored at all, and the two began a 16-year cooperation.
AAC Technologies makes tens of billions of dollars in profits from Apple almost every year.
However, even the glorious giants will eventually decline, and AAC Technologies is not in a good position at the moment, with profits declining for five consecutive years.
AAC Technologies' interim performance report released in August this year showed that the net profit in the first half of the year was only 1500 million yuan, a year-on-year decrease of 571%, such a sharp decline is like a heavy blow, hitting AAC Technologies the brain.
AAC Technologies' stock price has plunged, and investors have complained about it.
AAC Technologies explained that the impact of the weak mobile phone market on profits is the main reason, but it is expected to continue to improve in the future.
The trough of the enterprise may only be temporary, but Wu Chunyuan successfully transformed from a small ** to an entrepreneur worth tens of billions, showing the peak moment of her life.
Let's wait and see what her strategy holds next.