In China's economic map, there are a number of highly influential and competitive enterprises, which have taken the lead in their respective fields by virtue of their strong innovation capabilities, stable business strategies and unique business models, but have not stepped on the stage of the capital market and have chosen the development path of non-listing. Among them, the five most eye-catching private enterprises are: communications and technology giant Huawei, global digital content leader ByteDance, drone industry leader DJI, beverage empire Wahaha, and the legendary brand Lao Gan Ma in the condiment industry.
Huawei Technologies***
Founded in 1987 by Mr. Ren Zhengfei, Huawei, located in Shenzhen, a city at the forefront of reform and opening up, has grown into a leading global ICT solutions provider over the past 30 years. Huawei has more than 2070,000 employees in more than 170 countries. Although its financial situation is enough to make it stand out in the capital market, Huawei has always maintained its original intention and refused to go public. Ren Zhengfei has repeatedly elaborated on the reasons for Huawei's non-listing, emphasizing that it should maintain its independence and avoid the short-term profit-seeking pressure of the capital market from interfering with the company's long-term strategy, and believes that going public may weaken the company's hard-working cultural genes.
ByteDance***
Also a bright star in Beijing, ByteDance was founded by young entrepreneur Zhang Yiming, with a series of phenomenal products such as Toutiao and Douyin, with an employee of 110,000 people and business coverage all over the world, profoundly changing the global Internet content ecological pattern. Although the outside world has never stopped speculating and expecting ByteDance's listing, Zhang Yiming and his management seem to intend to follow a more independent growth path, and achieve steady growth in the company's value through continuous internal innovation and resource integration, rather than introducing external capital through IPO. This decision fully demonstrates ByteDance's determination to plan for the long-term of the company, as well as its determination to resist the huge wealth effect brought by the listing.
DJI***
Shenzhen-based DJI, under the leadership of Mr. Wang Tao, has become the absolute leader in the field of global civilian drones. Only 1With more than 20,000 employees, DJI's products and technologies have been widely used in agriculture, film and television production, surveying and mapping and other industries, demonstrating strong R&D strength and market share. Despite its ability to go public, DJI has also held on to its private listing options to maintain its independence in product development and control over its core technologies.
Hangzhou Wahaha Group***
Wahaha Group, rooted in the beautiful scenery of Hangzhou, was founded by entrepreneur Mr. Zong Qinghou, and is loved by consumers for its rich and diverse beverage product line, with about 30,000 employees. Wahaha Group has always adhered to the real economy as the core, adhered to the principle of non-listing, and proved that the real manufacturing industry can also create value that cannot be underestimated with solid business performance.
Guiyang Nanming Lao Gan Ma Flavor Food Co., Ltd.
Finally, it is mentioned that the old godmother, who is known for being maverick, and the founder, Ms. Tao Huabi, has created a chili sauce kingdom with her own hands, relying only on 050,000 employees create a brand that resonates around the world. Although its profitability is comparable to that of many listed companies, Lao Gan Ma still adheres to the tradition of low-key pragmatism, adheres to the unlisted state, and maintains the family-style management characteristics and product quality reputation.
Although none of these five Chinese companies chose to go public, they have created remarkable economic benefits and social influence by virtue of their respective competitive advantages and market positions. If they choose to go public, it will undoubtedly trigger a new billionaire in the capital market, and may even give birth to a new billionaire or even the richest man in Asia or the world. However, it is precisely this choice not to pursue short-term capital returns, insisting on independent operation and strategic autonomy that has left a strong mark on the history of business in China and even the world, and has become a unique case of interpreting the wisdom of modern enterprise management.