Zhang Jindong, a legendary business hero, whose history and business spirit are still alive in the Chinese business community.
How a person born in an ordinary place fought his way out of the business world, finally established a sensational business empire, and then went into the twilight after the peak because of the changes of the times and internal management problems, this is the story of Zhang Jindong and Suning Group.
Zhang Jindong was born in an ordinary family, his father died very early, and the family was in a difficult situation. So since he was a child, his brother has been raising him. Despite living in poverty, Zhang learned to endure hardship and be independent, which laid the foundation for his later business path. After graduating from university, Zhang Jindong entered a factory to work, and his life was very peaceful.
But he longs for a bigger stage to fulfill his ambitions. So, he decisively quit his stable job and chose the thorny road of entrepreneurship. Relying on the small amount of money he had saved from working in a factory, Zhang Jindong opened a small shop named "Suning", which mainly sold household appliances. Unlike other stores, Zhang Jindong provides door-to-door installation and after-sales service.
This move immediately attracted many customers, and business was booming. In a few years, Suning's scale has expanded, with profits exceeding 10 million. Thanks to Zhang Jindong's business acumen of correctly grasping the market and management, Suning has rapidly developed into a national chain enterprise and occupies an important position in the domestic electrical appliance retail industry.
In the mall, Zhang Jindong met many similar people, such as Wang Jianlin of Wanda Group, who established a good relationship. Zhang Jindong is a businessman with a heart for the world, and he is willing to lend a helping hand to his friends.
When Evergrande Group faced huge debts and its performance declined, Zhang Jindong gave up his 5% stake and converted it into common stock, with the aim of attracting more external capital to inject into the company. When Wanda Group also had a debt crisis, he took the initiative to raise 34 billion funds to support Wang Jianlin.
It can be said that the network and goodwill image that Zhang Jindong established in the business world back then were tangible and valuable. This also established his reputation and status in the industry.
Time has passed, and today's Suning Group is no longer what it used to be. Years of blind expansion and failed investment have led to corporate liabilities of up to 300 billion. Profits have fallen sharply, development has stagnated, and it has reached the brink of life and death. For this reason, Zhang Jindong had no choice but to step down from his post as chairman of the board of directors of the company and take a back seat.
As the founder, his success and retirement can be said to be forced by the situation, not completely dominated by personal will. But after all, Zhang Jindong has achieved fame, and it seems understandable that he chose to protect himself in the later stage of his business career.
However, it is worth mentioning that those business celebrities who once received Zhang Jindong's help are now rarely helping Suning Group. Maybe they think that now that Zhang Jindong has abdicated, there is little point in helping, or they choose to stand by based on interests and interests.
This, in turn, shows that the personal contacts in the mall where you help me and I help you are still based on interests. Few people can really give up their small family and take care of everyone like Zhang Jindong.
Despite this, Zhang Jindong's generosity and business spirit in his business career still left a deep impression on us. He is not only a successful person, but also an entrepreneur with feelings. This spirit is very valuable. It is believed that in the future, China's business community will need more Zhang Jindong-style figures with a sense of social responsibility and valuing affection over interests.
To sum up, Zhang Jindong and the Suning Group he founded are full of ups and downs in their history and subsequent declines, which are full of legends. They reflect a microcosm of decades of changes in China's business environment and corporate growth. It has certain enlightening significance for us to analyze business phenomena and summarize historical lessons.