Yue Yue Medical Director Wu Guangming: Entrepreneur Behind Ten Fold Shares

Wu Guangming is a tiger. He was born in 1962 in an ordinary fisherman's family in Danyang, Jiangsu.

Jiangnan area is known as "

Wu Guangming told reporters: "the name" fish jump "was related to our fishermen's identity.

I remember that I had a campaign to go to the countryside in the second year of the year, but we didn't have to go to the countryside, because our identity was fisherman.

At that time, our family lived in the city, but we were still fishermen, which made me strong in fishermen's identity.

The days that followed his father's fishing nets were over.

Because of his mechanical background, Wu Guangming once worked as a metal syringe for animals after graduation.

As the medical device industry was associated with veterinary equipment, Wu Guangming discovered the great prospect of the medical device industry.

So he decided to switch, and gradually opened the door to the medical device industry from stethoscope and blood pressure meter.

In 1998, Wu Guangming and his father Wu Lianfu jointly founded the Jiangsu Yue Yue Medical Equipment Co., Ltd., that is, the predecessor of fish diving medical treatment.

Wu Guangming said: "many years ago, many of the lakes on our side were converted into fertile fields. We did not have the foundation and platform for survival.

Later, we registered a trademark called "fish jump" and finally changed the trade name to the company name.

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The master of methodology

10 years after the creation of the fish jump brand, Wu Guangming led the diving medical treatment onto the road of listing.

The company's IPO issue price is 9.48 yuan / share. Since its listing, the annual net profit of Diyue medical treatment is not less than 50% per annualized rate. After three rounds of dividends, the highest price of the diving medical price reaches 132.32 yuan / share (after the restoration of power, the same below), and the current stock price is also around 100 yuan, which is a Tebbagger of the name symbol (ten times).

In the experience of medical success, Wu Guangming's role is not to be ignored.

From the initial wheelchair to the subsequent nursing products and then to the medical oxygen supply series, the efforts of fish diving medical company to gain growth momentum through product line development have always had a high success rate.

For products that have so far been very effective

The truth is far more complicated than Wu Guangming described.

In the field of fish diving, any new product should develop a corresponding business model.

From the beginning of market research, raw materials, managers, sales areas, to the stock of talent is not suitable for selling these things, whether there is this gene, there is no connections, fish diving medical treatment for any product as far as possible not to make the prediction that man can conquer nature.

Moreover, Wu Guangming pays more attention to the comparison between medical investment and output of fish diving.

In 2005, fish diving medical technology made a major technological breakthrough for a technology intensive medical device through hard tackling, but Wu Guangming announced that it would not put the product into the market at the celebration meeting for the breakthrough.

Wu Guangming said: "this project requires a large number of very powerful people to do so. Instead of putting so many talents on products that are not enough to produce disruptive growth, it is better to put them on a market with better prospects.

Although it has technical barriers, it does not produce value for our company at that time.

I must put the company's ability in the most developed place. "

Wu Guangming is a very methodical person.

Under his influence, the fish diving medical treatment has already formed a set of own method to the product choice.

In fish diving medical treatment, Wu Guangming is responsible for the overall product strategy formulation, below him, each business has the specialized person to be responsible for the research.

Including product information provision, engineering design, packaging, logistics, pricing and other links are completed by independent departments.

On the basis of seeking optimal design in every link, the final integration is decided by Wu Guangming himself.

Wu Guangming said: "for a product, capital, talent, and market, any problem can cause the product to advance smoothly or fail to achieve the expected revenue.

You know, the life cycle of a product is limited. My job is to seize the best window period and integrate social resources, human resources and market resources together. This is a very systematic thing, forming a system is very important.

In addition to methodological issues, Wu Guangming also emphasized attention. Wu Guangming is now cleaning up his sideline investment.

In his words, "I am not doing anything at all. I am concentrating on medical business.

I don't think a company's revenues should be within the billions of dollars.

10 the year before last can be done, because at that time what to do to make money, but until now there is no unpopular industry, to do business or to rely on professionalism.

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Walking on two legs

Under the guidance of Wu Guangming and his methodology, fish diving medical is expected to launch sleep respirator, blood glucose meter and sterilizer product in the first quarter of 2012.

Coupled with the previous launch of X ray machines, comprehensive diagnosis and treatment equipment and other large equipment, fish diving medical products are pforming from simple medical devices to high-tech medical devices.

Wu Guangming said, "the company itself has strategic positioning, and also has the ability to start doing these things.

For me, it is the medical treatment group as a medical group. There are many product lines in the medical group. We plan to mainly divide three product lines.

The existing product line of fish diving is divided into rehabilitation nursing, medical oxygen supply and medical clinical products.

In the foreseeable future, fish diving will adjust the product line to family medical series, medical consumables and medical imaging series of medical appliances.

Specifically, the new family medical series has a certain overlap with the existing rehabilitation care series. The fish diving medical plan will enhance and strengthen the existing products.

In some of the new industries, such as medical imaging, medical consumables, and diving medical care, it will become a bad boy in the market, making Johnson and other international giants feel the pressure of competition.

Wu Guangming said: "new products, we currently require gross margin of more than 50%.

The high gross profit rate is still some high quality consumables, such as the blood sugar tester paper, and I am very optimistic about this profit.

In terms of price, I will not compete with the international giants in price war. My price will be only a little lower than that of foreign products, but I am better than him in terms of service, big advertising investment and better cloth distribution, and I will have more room for dealers.

Wu Guangming seems not to be too worried about medical imaging products such as X ray machines, which are more concerned about the market.

"Large equipment is an essential choice for the long-term development of a company, but its impact on us will not be apparent in one or two years.

At present, we still concentrate on the medical appliances, and even the future medical consumables will surpass the revenue brought by large-scale medical equipment.

There is still a certain distance between the large medical equipment and the channels with our traditional advantages. Although our hospital channels have been basically established, we need a certain amount of time to open up.

In addition to the product line adjustment, the road to the future of fish jump medical care will be linked to the overseas market.

Up to the first half of this year, only about 13.19% of the medical revenues from overseas market came from overseas markets.

Wu Guangming's ambition is to make 50% of the market at home and abroad.

Wu Guangming said: "the sales structure of the company will change.

The first time last year was 10% export, 90% domestic sales, maybe next year or the year after next, we have 30% or even 50% of the export, and finally will have at least 50% of the export or even 60%. I am confident that the globalization of the company is our most important thing. "

In fact, regardless of product line upgrade or sales target expansion, diving medical treatment can not get around the upgrading of technology level.

Without reliable and advanced products, product lines can not be upgraded, and products can not be sold abroad.

Prior to this, the success of the diving medical treatment was widely considered to be the role of OTC channel, but with the change of product structure and sales target, this advantage needs new support.

In this regard, Wu Guangming can see very clearly: "companies can not rely solely on marketing, this is very strong, but it is not a fortress of the company, but also can not become a bottleneck for the company.

In the future, the company is walking on two legs, one leg is marketing, and the other leg is technology.

Of course, in this process, mergers and acquisitions are indispensable. "

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Hold high the banner of merger and acquisition

The story of Bao Yue's medical stake in Borat (300246) has long been well known to investors.

Behind this well known story, however, lies in the philosophy of merger and acquisition: the goal of M & a must have core technology, which must maintain rapid growth, and adopt different control strategies for different objectives.

For Borat, Wu Guangming's initial strategy was to take advantage of the strong capital strength of the company after its listing.

At the height of the peak, Wu Guangming's Jiangsu Alex Investment Limited has a higher share of the company than the current one, and everything looks very smooth.

But Wu Guangming finally chose to give up. "After a period of understanding, I found that Borat is not very compatible with the fish diving medical gene. The business can make it better by itself, so I chose to give up some of the shares of Borat.

Judging from the present results, the judgement was right at that time. If it is really incorporated into the framework of fish diving medical treatment, it may not have such a success today.

The future is the same. If we go in or keep the distance, we will finally see whether the value is worth doing.

Although there is a way out on the acquisition path, Wu Guangming has been very clear about the purpose of M & A, that is, acquiring technology.

He said: "I and fish diving medical need to find a partner through mergers and acquisitions, because our company's method is to establish trade and market first, then to establish technology, and finally to build production facilities. We are going to trade, technology and industry. From then on, we first establish sales capabilities, clinical capabilities and market capabilities. After this platform has been built, we can build up technology and technology and turn it into cash flow."

In addition to technical indicators, Wu Guangming also needs to see the growth of M & A targets.

Wu Guangming's interested companies mostly have core technology, so the purchase price is relatively high.

On the basis of having the technical strength, Wu Guangming believes that as long as the target of M & A can sustain high-speed growth for several years, the price that looks relatively high will become acceptable in a few years, and growth is also decisive.

Wu Guangming's thinking is clear, and the acquisition of medical treatment has followed.

In October 14th, the fish diving medical announcement announced that it would buy part of the stake in Zhenjiang Conley Medical Devices Co., Ltd. and increase its capital, which will eventually hold 60% of Zhenjiang Conley.

Wu Guangming told reporters with a smile: "in terms of mergers and acquisitions, we usually take two ways, one is holding 60%~65%, and the other is wholly owned.

This is related to the company's strategy. Holding 65% of the company is sure to use the original team of the company, so it needs some encouragement from the original team.

If wholly owned, it is ready to successfully take over when the other side does not cooperate.

Now that we have to take over the whole market, 1% of the shares can not be left to each other, because even if we own 100% of the shares, we may encounter all kinds of boycott.