No matter pay Xia, is Li Aijun, even even Song, the recent three years obtained the progress of progressing by leaps and bounds, had certain influence in the profession, but along with the expansion of scale, was the successful public figures on society. 不管是付霞,还是李爱军,甚至平松,最近三年得到了突飞猛进的进展,在行业内都有了一定的影响力,但随着规模的扩大,算是社会上的成功人士了。 But, each one is more successful, idea nearly is less same, conforms in the together success ratio also to reduce. 可是,各自越成功,理念越不近相同,相互间整合在一起的成功率也在降低。 Because everyone 's mature maturity degree and Chinese economy's growth in market, each factory arrived had the certain amount stages. 由于每个人在市场上的成熟成熟程度和中国经济本身的增长,每家厂子已经到了有一定量的阶段。 At this stage, Li He did not have very big determination to make the industrial reorganization merger and acquisition, he thinks that the adjustment of Chinese traditional trades and industry structure also needs some time, because the current industrial structure presents the small scattered in disorder weak pattern. 在这个阶段,李和还没有很大的决心去做产业整合并购,他认为中国传统行业产业结构的调整还需要一段时间,因为目前的产业结构呈现出小散乱弱的格局。 Could not need several years, because the market size was very attractive, the industrial prospect looked good very much, finally, the massive merchants emerged these emerging big industries, from the textile and small commodity to the steel and chemical industry to the petroleum to the metal to the automobile, various trades and occupations everybody did, the mushroom growth same emitted batches of manufacturers, the low horizontal and low beginning building redundant project, the manufacturer stood in great numbers. 要不了几年,因为市场规模很诱人,产业前景很看好,结果,大量的商人一齐涌入那些新兴大产业,从纺织、小商品到钢铁、化工到石油到金属到汽车,各行各业大家都来搞,雨后春笋一样地冒出成批的厂商,低水平、低起点重复建设,厂商林立。 So long as is the threshold low profession, then certainly will present the manufacturer to stand in great numbers, the aspect of blind competition, finally is everybody fights the price war, projects on the market order chaos, invariably causes the entire profession to lose money or is the meager profit, the industrial overall expiration. 只要是门槛低的行业,那么就一定会出现厂商林立、恶性竞争的局面,结果就是大家都打价格战,打到市场秩序混乱,往往导致全行业亏损或者是微利,产业整体失效。 The manufacturer in profession survives to barely survive, everybody is eating the soup, cannot eat the pork. 行业内的厂商生存维艰,大家都在喝汤,吃不到大肉。 This is more than 100 years ago the industrial characteristics of American Morgan time. 这是100多年前美国摩根时代的产业特点。 This stage China must experience, described US that time industry characteristics vocabulary, can be used to describe in the future several years of Chinese industry conditions. 这个阶段中国是必须经历的,描述美国那个时代产业特点的语汇,可以用来描述往后几年的中国产业状况。 For example, the building redundant project and manufacturer stand in great numbers, the blind competition and price war, the market order chaos wait/etc.. 比如说,重复建设、厂商林立、恶性竞争、价格战不息、市场秩序混乱等等。 Although since 1990, the industrial merger and acquisition conformity of China has had, but in the two years, high-frequencier, after 2000, is to merge the high-frequency stage of conformity, real estate, finance, material, energy and other resources will be getting more and more centralized. 虽然从1990年至今,中国的产业并购整合一直在发生,只不过这两年以后更加高频,2000以后才是并购整合的高频阶段,房地产、金融、材料、能源等资源会越来越集中。 Some are the crosswise merger and acquisitions of same profession, some are the vertical expansions of industry chain. 有的是同行业的横向并购,有的是产业链的纵向扩张。 Currently speaking, the general industry development of China is imbalanced, the concentration ratios of some professions are high, the profession is at the overcapacity stage. 从目前来说,中国的整体行业发展是不均衡的,有些行业的产业集中度非常高,行业处于产能过剩阶段。 Regarding the new economy profession, leader has not been born, or the birth leader has not surpassed the very outstanding operational efficiencies and business models of other enterprises. 对于新经济行业,龙头企业还没有诞生,或者诞生的龙头企业并没有超出其他企业的非常优秀的运营效率和商业模式。 Chinese industrial capital is imbalanced, exactly is the Li He current investment opportunity. 中国产业资本的不均衡,恰恰是李和目前的投资机会。 He already started to cut into the holding investment comprehensively, at present holding has invested many family/home enterprises. In Li He the capital is observing positively opportunity of industrial reorganization. 他早就开始了全面切入控股型投资,目前控股型投资了很多家企业。李和手里资本正在积极观察其中产业整合的机会。 He highest hope, through the merger and acquisition conformity, molds 1-2 leading enterprises. 他最大的希望,是通过并购整合,塑造一两家的领军企业。 Which opportunities in the conformity is containing and potential dangers, how also presents the new trend? 整合中蕴含着哪些机会和潜在风险,又呈现出怎样的新趋势？ How should carry out the conformity behavior, how to dodge these risks? 该如何开展整合行为,如何去规避这些风险？ Li He are not clear. 李和自己都不明白。 However, he has to conform, because of the unconformability, the bottleneck of reforming can face immediately is more urgent, earliest bumps into the ceiling, the even loosen they are absolutely possible to tow his general orientation the hind leg. 但是呢,他又不得不整合,因为再不整合,马上会面临的转型的瓶颈更加急迫,最早碰到天花板,平松他们完全有可能拖他大方向的后腿。 The conformity strategy already can be his withdrawal method, to their independent opportunities, they followed his these years after all, he should give them a stretch of world. Naturally, can be to continue the one way of cooperation expansion principal work and corresponding industry, but can also be after some profession enters the platform time, further method of value conformity. 整合策略既可以作为他的退出手段,给他们独立自主的机会,毕竟他们跟了他这些年,他应该给他们自己一片天地。当然,也可以作为继续合作扩大主业和相应产业的一种方式,还可以作为当某个行业进入平台期后,进一步价值整合的方法。 The Li He fighting method, is different from the equity investment mentalities of many pioneers, needs the industry ability and financial ability, can have the professionalism team of corresponding investment ability in internal and external different markets, carries on corresponding operation. 李和的打法,不同于许多的创业者的股权投资思路,需要具有实业能力、金融能力,能够在境内外不同市场间有相应投资能力的职业化团队,来进行相应的操作。 His development totally depends on the prophet to predict generally, shows the direction and path for everybody, plays a role of lighthouse, has not participated in the undertaking team personally, personally takes care of things, what suffers hardships to exhaust oneself are most is even Song and Li Aijun these people, therefore he not only has guilty, and has grateful. 他的发展完全靠先知一般的预言,替大家指明方向和道路,起一个灯塔的作用,在创业团队中并没有亲自参与,事必躬亲,受苦受累最多的还是平松和李爱军这些人,所以他既有愧疚,又有感激。 He a few words must conform at this time baseless, must consider that after all their feeling, gives them the right of free choice, has scruples these many years friendship. 他此时凭空一句话要整合,总归要考虑一下他们的感受,给他们自由选择的权利,顾忌一下这么多年的交情。 even Song looked at pay Biao, the say/way of not caring at all, „I do with two Biao elder brothers, am headed by two Biao elder brothers, I listen his.” 平松看了看付彪,满不在乎的道,“我跟着二彪哥干,以二彪哥为首,我听他的。” He spoke this saying, bold air-drying said that but is own true idea, only then he was clear, because from level , he although once with two young tigers, however the present status will not compare two Biao difference. 他说这话,豪气干云,但是是不是自己的真实想法,只有他自己清楚了,因为从层次上来说,他虽然曾经是跟着二彪的,但是现在的地位不会比二彪差。 49 cities inquired completely, little has does not know his Boss even. 49城满打听,很少有不知道他平老板的。 Two young tigers saw Li He also to light the cigarette, has selected one, says with a smile, „your boy little spoke the sour words, before everybody brothers in the same place, closed right up against the fist, I depended a physical strength, you also favored me, I received. However was now different, like Li elder brother often said that must eat meal by the brain.” 二彪见李和也点了烟,也跟着点了一根,笑着道,“你小子少说酸话,以前大家兄弟在一起,靠着拳头,我仗着点体力,你们也抬举我,我受了。但是现在不同了,就像李哥经常说的,要靠脑子吃饭。” Some Li He, him are actually not good to take in a big way, appears amiable to even Song. 有李和在,他倒是不好拿大,对平松也显得平易近人。 Li He asked Su Ming, „your meaning?” 李和问苏明,“你的意思呢？” „They are the silly roe deer, wants the elder brother you to make a decision.” Su Ming felt suddenly a little became estranged Li He, was a little uncomfortable at heart. “他们俩都是傻狍子,还是要哥你拿主意。”苏明突然感觉有点疏远李和了,心里有点不是滋味。 Guo Dongyun the digression said at this time, „I thought Mr. even and Mr. pay are very able people, necessity that has not conformed with actually. Under present has the real estate, if conforms, will be a real estate enterprise of large-scale.” 郭冬云此时插话道,“我觉得平先生和付先生都是很有能力的人,倒是没有整合的必要。在座的各位名下都是有房产的,如果真的整合起来,将是一个超大规模的房产企业。” Li He has shot under the cigarette ash, said, „you continued.” 李和弹了下烟灰,道,“你继续说。” Guo Dongyun continues saying that „according to my idea, can conform with four real estate companies, the place big real estate of Mr. even Song can be separated from the big group, forms voluntarily. pay Biao Mr. Xiangyang real estate , is also second to none in the south, does not need to merge. Mr. Shen Daoru the property scale of broad real estate, only under Guo Bingjiang's Sun Hung Kai. As for Miss Chen Lihua's Fuhua real estate, in the high-end property domain of Hong Kong, only limits under Whampoa. Four can unify to establish an executive committee, realizes the unified accounting standards, the overall plan is coordinated, resource sharing.” 郭冬云继续道,“按照我的想法,可以整合成四家房产公司,平松先生的地大地产可以脱离了地大集团,自行组建。付彪先生的向阳地产,在南方也是首屈一指的,也没有必要合并。沈道如先生旗下的远大地产的物业规模,也只在郭炳江的新鸿基之下。至于陈立华小姐的富华地产,在香港的高端物业领域,也仅限在黄埔之下。四家可以统一成立一个执行委员会,实现统一的会计准则,统筹协调,资源共享。” She now thought was very clear, since these people refuse to accept her, she does not need to win over again, no matter serves is deceiving, is not her original intention and disposition, she might as well make a fresh start. According to the scale, big group has been second to none in entire world, she does not need to eat meal in a pot with these people again. 她现在已经想的很清楚了,既然这些人不服她,她也就没有必要再拉拢了,不管是伺候着还是糊弄着,都不是她的本意和性格,她不如另起炉灶。按规模来说,地大集团已经在全世界是首屈一指了,她没有必要再和这些人在一个锅里吃饭。 Li He agitated has lit the third cigarette, sighed, „that line, even Song, your real estate company was independent from the place big group.” 李和烦躁的点了第三根烟,叹口气道,“那行,平松,你的地产公司从地大集团独立出来吧。” She thinks, is this principle, if later even Song and Guo Dongyun has the contradiction, he must worry. 她想了想,也是这个理,万一以后平松和郭冬云发生矛盾,他还要操心。 „Thanks the elder brother.” even Songhe pay Biao say/way with one voice, relaxed, joyful has complied, besides Li He, they definitely is not willing to be pressed a head by other people again, is independent to be good. “谢谢哥。”平松和付彪异口同声的道,都松了一口气,欣喜的应了,除了李和之外,他们肯定不愿意再被他人压一头,独立出来再好不过。 Paying the rosy cloud does not need Li He to ask, the hurried say/way, „Feng Lei is young, the tannery a little while convenient, does not give loving the military big brother.” 付霞不待李和问,就急忙道,“冯磊年纪还小,皮革厂还是有点不趁手,交给爱军大哥吧。” Feng Lei also lowers the head, echoing in a low voice, the tannery is his painstaking care, he also clenches teeth should. 冯磊也是低着头,低声的附和,皮革厂是他的心血,他也是咬牙应的。 Li Aijun beckons with the hand hurriedly, „inadequate, inadequate, where I have energy manages that many. On Feng Lei, not compared with this child careful, he has managed me to feel relieved.” 李爱军急忙摆手,“不成,不成,我哪里有精力管那么多。就冯磊,没比这孩子细心的了,他管着我放心。” He now altogether is two shoe manufacturers, in Jinjiang, in the capital, is tied up, where also has the thoughts manages tannery, said again, tannery that benefit, he could not have a liking for. Opens the main purpose of tannery is to guarantee the supply of his shoe manufacturer. Therefore at this time gives Feng Leiguan, can save many thoughts for him. 他现在总共是两家鞋厂,一家在晋江,一家在首都,忙得不可开交,哪里还有心思管皮革厂,再说,皮革厂那点效益,他真的看不上了。开皮革厂的主要目的都是为了保证他鞋厂的供应。所以此时交给冯磊管,可以替他省下很多心思。 „Then on Feng Lei. Waits to meet you to give a discount, this how much money on how much money.” Li He sees the sincerity that Li Aijun said that is also willing to give Feng Lei opportunity. “那就冯磊吧。等会你们折价,该多少钱就多少钱。”李和见李爱军说的真诚,也愿意给冯磊机会。 „That” Feng Lei looks at pay Xia hesitant, he needs pay Xia to take responsibility. “那”冯磊犹豫的看着付霞,他还是需要付霞做主的。 pay Xia says with a smile, „is gawking silly doing, your loving the military big brother gives you opportunity, hurries to thank others.” 付霞笑着道,“傻愣着干嘛,你爱军大哥给你机会,赶紧谢谢人家啊。” Feng Lei stands to say happily, „thanks loving the military big brother, thanks loving the military big brother!” 冯磊高兴的站起来道,“谢谢爱军大哥,谢谢爱军大哥！” He is excited. 他是激动的很。 Li Aijun says with a smile, „should not be happy too soon, the offensive talk said front, cannot break my goods.” 李爱军笑着道,“别高兴得太早,丑话说前头,可不能断了我的货。” Feng Lei confident say/way, „matter that if has harmed you! Your shoe horn pulls out me freely!” 冯磊信心十足的道,“要是误了你的事！你尽管鞋拔子抽我！” Also is one laughs. 又是一阵哈哈大笑。 The one who most does not have the confidence was Serena, he will be afraid his electric appliance store to merge into under Lu Bo's name, by the qualifications and ability, how he unable to compare Lu Bo! 最没信心的是小威了,他害怕他的电器店会并入卢波的名下,论资历和能力,他怎么样都比不上卢波的！ What is most essential is Li He a little could not take a liking to him. 最关键的是李和一直都有点瞧不上他。 At this time he does not dare to open the mouth randomly, otherwise outsmarts oneself, he does not have the place to cry! 此时他没敢乱开口,要不然弄巧成拙,他都没地方哭去！ Not only he is anxious, sits in Brother Huang Jia of second row of audit, with uneasy, the electric appliance store is also his two brothers' painstaking care! 不光他紧张,坐在第二排旁听的黄家兄弟,都是跟着忐忑不安,电器店也是他哥俩的心血啊！ If does to marry the clothes for others, they can be resigned to call to blame! 如果为别人做嫁衣裳,他们能甘心才叫怪了呢！