The hottest second generation took over from Maste

Second generation succession: Master Kang changed to "master"

in the evening of December 20, Master Kong Holdings announced that Wei Yingzhou would resign as the executive director and chairman of the board of directors of the company on January 1, 2019. Thereafter, he will serve as a senior consultant of the company

at the same time, in this personnel change, Wei Hongming, the eldest son of Wei Yingzhou, was appointed chairman of the board of directors and member of the committee, and Wei Hongcheng, the third son, was appointed Executive Director. This personnel change means that Master Kang has officially entered the era of the second generation at the helm

"(this handover) has no direct impact on the management of professional managers. The group thanks Mr. Wei Yingzhou for his valuable contributions over the years, and looks forward to the new leadership taking the original intention of serving consumers when they started their business that year, operating carefully from a new starting point, and creating new achievements in the future on the basis of the reassurance of the government and consumers." Master Kang insiders said

at the helm, Wei Yingzhou: create the legend of "China's Noodle King" with one hand

from a small oil processing plant to the establishment of today's 60billion volume instant noodle Empire, Wei Yingzhou can be called a meritorious service

Wei Yingzhou, born in Taiwan, China in 1954, is 64 years old this year

in 1992, "Tianjin Dingyi international food company" was put into operation and entered the business of instant noodles. In August of the same year, the first package of braised beef noodles was born, and quickly swept the country, becoming Master Kang's enduring fist product

in fact, when Wei Yingzhou planned to make instant noodles, uni president instant noodles had 40 or 50 factories across the country

compared with similar products at that time, Master Kang's braised beef noodles were equipped with a beef seasoning bag and paper bowls and forks. The price of 1.98 was moderate. Since then, Master Kang has become a synonym for "instant noodles"

at that time, the first production line in Tianjin could only produce more than 100000 bags of instant noodles a month, which was not enough to supply Tianjin and nearby markets. However, Wei Yingzhou insists that only 20% of the products can be sold in Tianjin, and the remaining 80% must be transported to the whole country for distribution, so as to open up national popularity

from 1992 to 1995, the turnover of Master Kong soared from 27million to 2.45 billion, and its verification results should be considered. The temperature correction has increased 100 times

under Wei Yingzhou's strong opposition, since 1994, Master Kang has adopted the strategy of holding high and fighting hard to quickly seize the market, and has successively set up production bases in Guangzhou, Hangzhou, Wuhan, Chongqing, Xi'an, Shenyang and other places, realizing rapid expansion of its territory

in 1996, Master Kong successively entered the field of cakes and beverages, which together with the instant noodles business formed the three pillars of Master Kong. In the same year, Master Kong was listed on the main board of Hong Kong. It was also in this year that Dingxin International Group acquired Dexter and began to set foot in the catering chain industry. Now it has three major brands, "Dexter" Western food, "youleheshi" ramen, "niuleting" barbecue

in 1997, Dingxin International Group established Tesco supermarket in Shanghai

in 1998, Dingxin Group acquired Weiquan Food Industry Co., Ltd. at a price of $300million

in 2001, Master Kang's annual sales of instant noodles exceeded 6billion bags at one stroke, and was crowned as the "king of Chinese noodles"

nowadays, Master Kong has developed into a leader in the food and beverage industry with an annual turnover of more than 60billion, a household penetration rate of 82.6% in China, and a coverage of 900million consumers. There are more than 100 production lines, and the annual sales of instant noodles and tea drinks exceed 12billion bags and 10billion bottles respectively. According to statistics, the instant noodle bowls sold by Master Kang every year can circle the earth 37 times

it is natural to cultivate the "second generation of Kang" to succeed for many years.

unlike the elders who have been exposed frequently in public, Wei Hongming and Wei Hongcheng brothers are low-key, rarely appear in front of the media, and few people know their resumes

it is reported that Wei Hongming, the eldest son, is 41 years old. He holds a degree in mathematics from King's College London in the United Kingdom, a master's degree in mathematics from bunell University in the United Kingdom, and a master's degree in management from Stanford University in the United States. He once worked as an asset allocation analyst at Makena capital in the United States, which is owned by Microsoft co-founder Paul Allen. He joined the board of directors three years ago as an executive director

Wei Hongcheng, the third son, is 36 years old. He graduated from Imperial College London with a bachelor's degree. He received a master's degree from Waseda University in Japan and an MBA from Harvard Business School. He has worked in the headquarters of Blackstone Group and PepsiCo successively

for a long time, the problem of "second generation" succession in family enterprises has attracted much attention, and how to realize the transfer of power and the smooth transition of operation and management has become the key point. Economy - when sorting out the personnel changes of Master Kang's management in recent years, China's economy found that the "handover stick" had begun to take shape as early as 2006, and the generation change had been completed in stages in more than a decade

Wei Hongcheng, the third son, also joined the group in 2007 for many years of experience, during which he facilitated the cooperation between Master Kong and international strategic partners such as Starbucks and Disney, and promoted the planning of the fast-moving product market research system TMRs of China Motor Products Circulation Association of the Shanghai Municipal People's Government

now that the five-year period has expired, Wei Hongming has succeeded his father as chairman of the board of directors. No matter from the experience of operation and management, familiarity with the business or the internal and external environment of the company, his succession is now natural

at the same time, the stability and maturity of the company's management team led by Wei Junxian provides a reliable business guarantee for the alternation of generations

challenge of Master Kang

in terms of instant noodles, Master Kang also represents the epitome of an industry

from 2000 to 2015, the operating revenue of Master Kong increased from 6.09 billion yuan to 66.71 billion yuan, an increase of 10 times, with a compound annual growth rate of 20.2%

however, since 2011, the performance of Master Kong Holdings has slowed down, reaching the peak of revenue in 2013, and the revenue continued to decline in 2014, 2015 and 2016. From the perspective of stock price, it is more obvious that Master Kong Holdings was listed in Hong Kong in 1996. At that time, its initial price was HK $1.68. In 2011, its stock price reached HK $23.9, with a market value of HK $140 billion. On December 21, it closed down 2. Pick it up 1. The screen is broken! Directed by the daily mail on June 2 48%, the closing price is only 10.22 Hong Kong, and the market value has shrunk by nearly two-thirds

as an instant noodle giant, Master Kong's performance is significantly affected by the industry

data show that from 2013 to 2016, the demand for instant noodles in China fell continuously, with the annual sales volume falling from 46.22 billion packages to 38.52 billion packages, a decrease of 16.66%. According to Nielsen, a market research organization, China's instant noodle industry stopped its decline and began to recover in 2017. The overall market sales rose by 0.3% and sales increased by 3.6%. Master Kang's performance has also eased

at the same time, in 2017, Master Kong Holdings achieved an operating revenue of 58.953 billion, an increase of 6.07% year-on-year; According to the financial report released by Master Kong Holdings, in the first half of 2018, the company's turnover increased by 8.5% year-on-year to 30.996 billion. In addition, according to the financial report of the third quarter of 2018 released by Master Kong Holdings, the revenue of Master Kong Group in the first three quarters was 49.859 billion yuan, an increase of 3.32% year-on-year

industry analysts believe that the recovery of Master Kong's instant noodles business is mainly due to the transformation and upgrading of the company. On the one hand, implement the strategy of multi price with products, consolidate the high price side and develop the high end; On the other hand, enrich consumption scenarios and IP cooperation, making eating instant noodles a topic for young people; At the same time, we have made innovations in product technology and launched a number of new products