Supor was sold at a low price of 4 billion in 2006 and acquired by a French company. It changed from a domestic brand to a foreign-owned company. A state-owned enterprise became a foreign enterprise overnight, with a current market value of 68.9 billion yuan!

Su Zengfu, the founder and actual shareholder of Supor, who was accused of "selling out national assets", said he had no regrets. Why is this? So why did Su Zengfu sell Supor at such a low price?

What twists and turns have Su Zengfu and his Supor experienced? In this issue, Ziya Children's Fun Business will bring you tips and tricks to help you understand the ups and downs of Su Zengfu and Supor.

Su Zengfu was born in Yuhuan County, Zhejiang Province in 1941. When he was a boy, Su Zengfu came from a poor family. Therefore, he worked extra hard and lived up to his family's high expectations to serve in the navy.

Su Zengfu’s tough teenage life and military career taught him to sharpen his mind in difficult situations, but fate always seemed unfair to him.

After retiring, Su Zengfu's career change was not smooth, so he had to go home to farm. It was not until he was nearly 30 that he entered a pressure cooker accessories factory in Yuhuan County as a small employee.

After working in the factory, Su Zengfu still maintained the hard-working style of military life and worked conscientiously. Su Zengfu, who was born in a farm family without any background, became the director of the accessories factory through his own efforts ten years later.

This should have been a happy thing, but the parts factory that Su Zengfu took over was facing poor management problems at the time.

It turns out that the market environment for pressure cookers was not good at that time, and the performance of their factory that made pressure cooker accessories was naturally not good either. Su Zengfu, who has always been accustomed to solving problems by himself, is determined to lead the factory out of trouble.

As the saying goes, you can’t build without breaking, so Su Zengfu made a bold decision: Since the pressure cooker product is not performing well in the market, it is better to make a pressure cooker product that can satisfy the market.

Faced with this shocking decision, some managers and employees thought it was too risky, but Su Zengfu still defied all opinions and raised 3 million yuan to build his own pressure cooker production line. My old employer Shuangxi pressure cooker OEM.

Su Zengfu relies on his down-to-earth and hard-working spirit to lead the factory employees to work hard. The pressure cookers they produce are of reliable quality and have high production efficiency.

This time also coincided with the country's announcement to cancel the dual-track price system, which reduced the factory's production costs again and increased sales revenue, which greatly increased the profits of Su Zengfu's pressure cooker factory.

With hard work and opportunities, Su Zengfu’s pressure cooker factory soon had an annual net profit of 80 million yuan, which was even several times higher than that of his employer Shuangxi. How can there be any OEM in the world? It makes more money than the genuine factory.

Double Happiness soon broke up with Su Zengfu due to trademark issues. Su Zengfu and his factory were kicked out by Double Happiness and were no longer allowed to OEM their products. However, it was this separation that made Su Zengfu determined to create his own brand.

Su Zengfu thought that since OEM pressure cookers can sell well in the market, there is no reason why they cannot sell their own pressure cookers and sell them under their own brands.

Su Zengfu did what he said and founded Supor. In this way, China's first private pressure cooker brand was born.

After splitting up and going it alone, Su Zengfu needed to consider more things. In the past, he only needed to produce pressure cookers and sell them, but now he needs to be responsible for the Supor brand.

For a brand to be competitive, it needs to be better than others. Su Zengfu chose to work hard on safety.

When we were children, our parents must have warned us not to mess with the pressure cooker. Once the high-temperature and high-pressure gas inside leaks or explodes, people may be seriously injured.

At that time, the quality of Chinese pressure cooker products varied, so Supor hoped to create a safe pressure cooker product so that consumers could use it with confidence.

Supor has put extra effort into the anti-blocking cover and pressure relief window of the pressure cooker, so that the gas in the pressure cooker can be discharged in time when the pressure is released. Supor has launched the brand appeal of "safety at home", which is very popular. It quickly aroused strong repercussions in the market.

Customers are very satisfied with the safety of Supor pressure cookers, and also recognize Supor's products in other aspects. In this way, Supor has made a name for itself in China's pressure cooker market.

After entering the 21st century, the consumption power of Chinese residents has also increased day by day. Supor is no longer limited to the production of pressure cooker products. Various kitchen utensils and kitchen supplies have also come out of Supor's production lines, constantly filling the market.

Supor’s induction cookers, dishwashers and other cooking utensils and kitchen supplies began to be sold all over the country, and Supor’s kitchen supplies began to penetrate into the hearts of Chinese consumers.

In 2004, Supor has become the largest kitchen supplies production company in the country and was listed on the Shenzhen Stock Exchange. Su Zengfu worked hard for ten years and finally made Supor bigger and stronger and became a famous enterprise in China.

In an interview, he said that the Supor brand was like his child, and he devoted all his efforts to it. But who would have thought that Su Zengfu would sell Supor just two years later? almost all of the shares.

What happened that allowed Su Zengfu to suddenly sell the brand he regarded as his child?

In 2006, Su Zengfu issued an additional 40 million shares to French SEB and cashed out 4 billion yuan in one year. By the beginning of 2007, Su Zengfu only held 0.01% of Supor shares.

Supor has now completely become a foreign company. Speaking of the reasons, Su Zengfu could only say that this was really a helpless move.

After Supor’s listing, not only did its profits not increase significantly, but instead declined, the stock price also fell, and Supor’s development temporarily stalled.

Su Zengfu also realized that Supor’s future development may be very difficult due to financial and market conditions. At this time, the French SEB Group extended an olive branch to Supor.

Provided some technical support for Supor and received many orders. Faced with development difficulties and with 4 billion yuan in capital, Su Zengfu chose to sell the Supor brand completely.

In this way, Supor became a foreign-owned brand, and Su Zengfu was also labeled as "selling out national assets." Supor was not forced into a desperate situation back then, and its current market value is booming, reaching 68.9 billion yuan.

But at that time, the market was still exploring development. Faced with the mushrooming of private enterprises, local banks did not have so much funds to support them all.

We cannot look at Supor’s plight from the current perspective, which is why Su Zengfu said that he has no regrets about selling Supor.

In fact, Su Zengfu did not completely sell the Supor brand. After selling the kitchenware field to the French SEB Group, he founded Supor Sanitary Ware.

Today's Supor is also developing vigorously in the fields of bathroom products, personal care products and household appliances. Although it has not achieved the impressive results of reaching the top of the Chinese kitchenware market, it has also continued to sustain the Supor brand. With vitality.

Li Ka-shing once said: "Enterprises should be raised like sons and sold like pigs." We cannot say whether this sentence is definitely correct or wrong.

But when faced with critical decisions, it is brave to forge ahead boldly, and it is also wise to retreat bravely. Su Zengfu once led the workers in the parts factory to go it alone and founded Supor.

After going public, it was sold when it faced a business crisis. Today’s Supor is not selling out national assets as some people say. Supor’s sanitary ware, household appliances and other industries are still active in our lives today. .

Su Zengfu said that he has no regrets. We can understand that it is not that if time goes back, he will still sell Supor, but that when faced with decisions, moving forward and retreating can be regarded as a strategy.