Over the past two years, the major Chinese home appliance giants have begun a vigorous internationalization process. They have begun large-scale overseas mergers and acquisitions, and have launched comprehensive attacks in Europe, the United States, and Japan. As a pioneer in the internationalization of Chinese companies, Li Dongsheng, chairman of TCL Group (000100.SZ), has experienced various international setbacks earlier, and is more aware of the ups and downs.
"Overseas mergers and acquisitions need to prepare for the worst, and we must make various plans and prepare for hard and evil battles." On June 27, during the Third China-Israel Technology Innovation Investment Conference, Li Dongsheng was This statement was made in an interview with the First Financial Reporter. He also said that in the future TCL will continue to divest non-core industries, and strive to complete major restructuring and divestiture work by the end of 2018 to form an industry focus.
Regarding investment in Israel, Li Dongsheng also said that Israel, a country with a small territory and insufficient population and resources, forced them to compete through innovation, and the products were mainly oriented to the European and American markets. There will be greater opportunities for the Chinese market in the future. Israel ’s leading technologies in the four industries of defense, agriculture, biotechnology, and electronic information are all needed by China.
Recently, Li Dongsheng became the largest shareholder of TCL Group (000100.SZ). He also explained to the First Financial Reporter that he became the largest shareholder. It was determined very early in 2015, and TCL Group has no actual control so far. People, this nature has not changed, the recent announcement as the de facto largest shareholder, in accordance with regulatory requirements to make disclosures.
Li Dongsheng, who has experienced twists and turns in the process of internationalization, also has many personal feelings about the topic of internationalization. "Chinese companies are faced with the same choices at this stage, so it depends on how the company's internationalization strategy is determined, and in what way the company's existing capabilities are suitable to promote internationalization."
He said that internationalization should be prepared accordingly, including the preparation of human resources and funds. Although bad things do not want to happen, they must be prepared for the worst. Once they happen, there will be a plan to deal with them. The most taboo is the difficulty. Only then did I find a way to deal with it, "Be prepared to fight hard and evil battles!" Chinese companies should have a corresponding understanding of the laws and regulations of the local society, as well as social and humanities. "You can't change the environment, you can only adapt to the environment to drive the business to a better landing."
TCL Group's revenue has been hovering on the scale of 100 billion for three years. Starting in the second half of last year, TCL promoted a new round of reform and tried to focus on its main business. However, Li Dongsheng believes that focusing on the main business does not mean that there is only one industry. Among the successful home appliance companies in the world, except for air-conditioning companies that can be more successful with a single product, most of the Chinese, Japanese, and Korean companies, including the more successful Samsung It is a comprehensive enterprise.
"We currently have ten strategic units, including seven major industrial groups, three major service businesses and venture capital. We will continue to restructure and divest unrelated industries." In the future, the industries headed by TCL Group will gradually decrease. At the end of 2018, the main restructuring and divestiture work can be completed, and the number of projects directly managed by TCL Group will be reduced from 50 to about 25. Over the past six months, TCL has divested and reorganized several projects.
At present, the traditional consumer electronics and home appliance industries are in a stage of excessive competition. Only by improving their own competitiveness and having better innovation capabilities can they survive and develop better. Taking smart phones and smart color TVs as an example, a large number of mobile Internet technologies are embedded in products. In the past, TCL was only a terminal product manufacturing, and now we need to provide better services. "So we have established three service units to provide services such as smart Internet. ".
In order to strengthen the capabilities of software development and big data cloud computing, Li Dongsheng revealed that TCL is brewing a plan to invest in Zhuhai. This year, the state strongly supports the development of the Guangdong-Hong Kong-Macao Greater Bay Area. Zhuhai is the pivot. In the past, TCL had invested in Zhongshan City on the west coast of Zhuhai. It is hoped that the project layout in Zhuhai City will be implemented this year. Software development and big data cloud computing business are in Zhuhai is more suitable for landing.
Focus on information technology artificial intelligence projectsOver the past two decades, Chinese companies have been accelerating the pace of internationalization, with both success and failure. Li Dongsheng said, "We have no cases of failure, but some projects have some twists and turns." The characteristics of each company are different, and each company's internationalization strategy is also different. Recently, TCL's investment in Israel is more Pay attention to the applicability of technology and how it can help the marketization of technical products and obtain greater benefits.
Speaking of TCL's investment in Israel, Li Dongsheng said that he had paid attention to the development of Israel two years ago and had started to communicate with related Israeli innovation companies. Last year, he began to make investments. TCL's way is to first invest in local technology innovation fund companies , Became their LP (Limited Partner), and last year participated in two Israeli technology innovation fund companies; through the relationship of these innovation funds, and then contact some projects.
TCL has established an office in Israel to strengthen communication. This year, we plan to promote the next step of investment, and invest directly in the project, hoping to participate in the project to a greater extent by directly participating in the project, Li Dongsheng said.
Israel has very good technology, especially in the four major areas, including defense military industry, agriculture, biotechnology, artificial intelligence information technology, etc., which are closely related to the Israeli defense military industry. "We are more interested in the field of information technology and artificial intelligence. This time we invested in a project based on information transmission and big data cloud services. It is still in progress, but it is temporarily inconvenient to disclose too much, which requires relevant government departments. Approve. "
Israel has technology and has very good product projects, but the market is small and needs to face the world. In the past, it was very successful in the European and American markets. Now Israel has gradually attached importance to the Chinese market. Previously, many US European capitals have been paying attention to Israeli projects. The United States has the largest number of acquisitions of Israeli projects. Chinese companies have also paid attention to Israel ’s potential and opportunities in recent years. In this regard, TCL is ahead.
"Israel has a strong ability to innovate and has a relationship with the Jewish people. It is also forced out. It has a small population and relatively poor resources. In this environment, innovation is the only way out." Development opportunities, including the sale of defense military technology to the United States. At present, Israel has no major industries, mainly small and medium-sized innovative companies. "I visited Israel two months ago. The largest company has a little more than 200 people. We consider investing, and the average company has a dozen people." Li Dongsheng said.
In 2016, TCL's global color TV sales exceeded 20 million units for the first time, ranking third in the global color TV industry. Li Dongsheng believes that TCL's overseas business revenue will account for more than 50% in the future. Implementing different strategies in different regions overseas, such as in emerging markets such as Vietnam, TCL has established production bases. In Europe and the United States, it will take the form of acquisition to gradually establish its own brand. According to IHS data, in the first quarter of 2017, TCL shipped 950,000 sets of color TV sets in North America, accounting for 13% of the share. International breakthroughs require technology drivers, including the use of intelligent voice technology, artificial intelligence technology and new display technologies. TCL currently has overseas R & D centers in the United States.
TCL Group is currently planning to issue shares to purchase assets, which is still in suspension. In this regard, Li Dongsheng said: "Subject to the announcement, the progress is still very smooth."
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