If someone asks, what does Tsinghua Tongfang do? Some people have answered that it is doing LED. Some people say that it is sewage treatment. Some people say that it is a PC (personal computer). Only these three industries are enough to make a difference. However, this is not enough. Tsinghua Tongfang has already deployed 12 industries including digital city, Internet of Things, digital TV, Zhiwang, microelectronics, semiconductor lighting, multimedia, military, and environment, and its market value has reached 30 billion yuan.
Excessive diversification is difficult to cultivate the core of the enterprise, and it is easy to create a swing in positioning. This is a pattern that seems to violate corporate management practices. Recently, when the reporter threw this question to Lu Zhicheng, the president of Tsinghua Tongfang, he had his own theory: "Our industrial layout is like playing Go, we must first take the eye position, and then connect several points together. Once again, the situation will win."
Lu Zhicheng was recommended to study at Tsinghua University in 1973. In 1977, he successfully graduated from the Department of Thermal Engineering of Tsinghua University, majoring in HVAC, and also the first batch of master's degree holders in China. After graduation, he stayed on as a teacher.
In order to promote the use of scientific research results, in 1989, Lu Zhicheng and his colleagues founded Beijing Tsinghua Artificial Environment Engineering Co., Ltd., starting from scratch. In June 1997, Beijing Tsinghua University Enterprise Group initiated the establishment of Tsinghua Tongfang Co., Ltd. The company founded by Lu Zhicheng was merged into Tsinghua Tongfang. After the establishment of Tsinghua Tongfang, it was listed on the Shanghai Stock Exchange and Lu Zhicheng was appointed as the president.
After the launch of the GEM, Tsinghua Tongfang’s unique development model has excited the capital market: many companies incubating by Tsinghua Tongfang can be spun off.
On October 20th, Tongfang's shareholding company, BesTV, increased its capital by RMB665.59 million and was subscribed by Shanghai Oriental Media Group, Shanghai Chengbei Investment Consulting Co., Ltd. and Shanghai United Investment Corporation. At this point, the shares of BesTV held by Tongfang shares were diluted to 15.466%. Tongfang withdrew from the position of major shareholder and was interpreted by market participants as BesTV is about to be on the GEM.
On November 12, Jingyuan Electronics announced that it intends to issue 107 million shares to Tongfang, Qingjing Micro Technology and Zhao Weijian, and acquire 100% equity of Tongfang Microelectronics. Stimulated by this positive, the crystal source has a daily limit. This is actually a backdoor listing of Tongfang Electronics.
After 15 years of development, Tsinghua Tongfang has grown into a medium-sized enterprise with assets of 30 billion yuan, covering 12 industries including information systems, the Internet, environmental protection, and building energy conservation.
Lu Zhicheng also completed a difficult transition from professor to entrepreneur. Lu Zhicheng said that he is not confident in the combination of these two identities. As an entrepreneur, he wants to pursue profits and scale, as a professor he hopes for technological innovation. "First of all, we must train top experts. In this industry, the top three people in the country must have at least one in the same party." In Lu Zhicheng’s mind, it is clear that the size and profit of the company is the second, and what really makes him fascinated is "world class." The independent core technology is not to buy people, to use people's, but to really own things."
Dialogue Lu Zhicheng
"New Finance": As a school-run enterprise, what do you think is the advantage and disadvantage that this identity brings to Tsinghua Tongfang?
Lu Zhicheng: Tongfang is backed by Tsinghua and has a unique advantage. Tongfang's development model is to industrialize scientific and technological achievements, and in the process to incubate a group of high-tech enterprises, while cultivating leading figures in high-tech enterprises. We regard Tsinghua University as the "virtual research institute" of Tongfang. Tsinghua University has very strong human resources and project resources. We have found out good research results and invited relevant teachers to develop together.
If a company wants to develop, there must be a lot of investment in the future. The Tsinghua background of Tongfang can reduce the risk of investment pre-research. When the market needs it, we can find relevant experts in time. In the process of project industrialization, the project team teachers can go to the same party to industrialize the project. In the end, some people may stay in the company to become the general manager, and some people return to the department to continue to be professors after completing the mission. This is a very effective policy for Tsinghua University to support the development of the industry, which is called “transplantation with soilâ€.
"New Finance": Some people say that the biggest problem of school-run enterprises is management, such as corporate governance. How do you see this problem? What work will Tsinghua Tongfang do in management in recent years?
Lu Zhicheng: From the management mechanism, we have gone from a number of branch offices in the past to the headquarters system, to today's 12 headquarters system. In the future, we must also have institutional innovation, which is to be able to operate faster and better in a development stage of the enterprise.
Institutional innovation is very important in different stages of development of an enterprise. Some enterprises, especially state-owned enterprises, are somewhat restricted. It is difficult to innovate in system innovation and management system. It will delay a lot of time on some issues. This is a big problem. If the enterprise is not constrained, there will be many changes in the innovation of the mechanism.
What I am doing today is to make the management structure of the company better, the management of the department and the management of horizontal grouping. These two matrix managements become a mechanism, and who is the president is also this idea.
"New Finance": Tongfang has twelve major industries, and the industrial direction is very good, such as building energy, Internet of Things, semiconductor lighting, etc., all belong to the strategic emerging industries that the country strongly advocates. However, compared with such a large industrial cluster, why is the size of Tongfang only 30 billion yuan?
Lu Zhicheng: I think we will double in three years or so, no more than five years. However, the scale of more than 50 billion yuan is not enough. It will take 10 years to reach the scale of 100 billion yuan. On this issue, I also struggle with myself. Our goal may not be to reach hundreds of millions of dollars. Of course, there is no certain scale, nor can we become a world-class enterprise. So the scale must be, but more important is the scale of the content. In addition, we must pursue our core competitiveness. Now, we need to train top experts in major industries, and it is also important to manage talents.
"New Finance": What do you think Tsinghua Tongfang got in the capital market? How should companies use the capital market?
Lu Zhicheng: When Tongfang was founded, we relied on Tsinghua University, which already had certain technical reserves and gathered a group of talents. However, due to lack of funds, we could not make scientific and technological achievements bigger and stronger. At this time, listing became a key turning point. We proposed the strategic direction of “technology + capitalâ€. First, we learned how to survive and develop in the capital market. Second, we learned how to industrialize existing scientific and technological achievements into social services. .
Since it is "technology + capital", technology is always the core competitiveness of Tongfang. Different from many companies that take trade and technology routes, Tongfang is taking the road of combining "learning, research, production and use". This makes the same party enter the market late, but because of its own core technological advantages, it can be in many fields. Post-production.
One of the practices of Tongfang in cultivating the results of incubating scientific and technological research is called “proposed risk investmentâ€. It is essentially different from venture capital in the ordinary sense. The proposed venture capital investment is a fixed industry direction. Tongfang invests according to its own industrial planning, industrial development direction and industrial chain construction. After investment, it is not for the purpose of exit, but through the management policy of “asset authorization management, plan budget assessment, company supervision and executionâ€, assisting it to continue to do Big and strong.
At this stage, Tongfang has cultivated a group of outstanding enterprises including Weishi shares, artificial environment, HowNet, and microelectronics, and then a group of people, a technology, several rooms and several articles. The project of the thesis has evolved into a national and world-class technology enterprise.
"New Finance": Tsinghua Tongfang has always turned scientific research projects into profitable projects, but the problem is that the company's strategy and main business are easy to sway, and it is difficult to connect various industries. How to solve this problem?
Lu Zhicheng: Many of Tongfang's industries are actually centered on two major industries: IT and energy. Tongfang always invests and incubates according to its own industrial planning needs, which is fundamentally different from venture capital. Venture capital is to invest in 10 projects. As long as one of the projects has achieved 50 times of revenue, the other 9 projects can be abandoned. But the majority of Tongfang’s success is the vast majority because we are venture capital in the industry chain.
"New Finance": Professors are learning and teaching, and entrepreneurs are business and profit. How do you grasp these two roles?
Lu Zhicheng: When I decided to do something, I was both a professor and an entrepreneur. I had to have a professor's understanding of the trend of technology development and the entrepreneur's understanding of the current social needs. The combination of the two is the basis for decision-making. In this sense, I feel that I am not a good professor from the perspective of a pure professor. From an entrepreneurial point of view, I am not a good entrepreneur. I am a very good person in charge of the enterprise. It is a benevolent investor, not too harsh. Therefore, I am not qualified in these two aspects. I am a professor and I am an entrepreneur. I may be 60 points, just pass the exam and do the work well.
"New Finance": What level do you think Tongfang can achieve as a "world-class high-tech enterprise"? How long is the target implementation?
Lu Zhicheng: In fact, the conditions are very simple. First of all, you must have world-class talents, IT, and world-class talents in IT. At the same time, you must have world-class independent core technology, not to buy people, use people's Therefore, we must have what we really have; of course, as an industry, we must have the world's so-called market share, industry scale, and industrial influence. In this step, it is actually world-class.
It has only been 15 years since the establishment of Tongfang, and it is still a teenager, so it is still far from this goal. What we are doing today is to prepare for the realization of our dreams, so the road is still very long.
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
Excessive diversification is difficult to cultivate the core of the enterprise, and it is easy to create a swing in positioning. This is a pattern that seems to violate corporate management practices. Recently, when the reporter threw this question to Lu Zhicheng, the president of Tsinghua Tongfang, he had his own theory: "Our industrial layout is like playing Go, we must first take the eye position, and then connect several points together. Once again, the situation will win."
Lu Zhicheng was recommended to study at Tsinghua University in 1973. In 1977, he successfully graduated from the Department of Thermal Engineering of Tsinghua University, majoring in HVAC, and also the first batch of master's degree holders in China. After graduation, he stayed on as a teacher.
In order to promote the use of scientific research results, in 1989, Lu Zhicheng and his colleagues founded Beijing Tsinghua Artificial Environment Engineering Co., Ltd., starting from scratch. In June 1997, Beijing Tsinghua University Enterprise Group initiated the establishment of Tsinghua Tongfang Co., Ltd. The company founded by Lu Zhicheng was merged into Tsinghua Tongfang. After the establishment of Tsinghua Tongfang, it was listed on the Shanghai Stock Exchange and Lu Zhicheng was appointed as the president.
After the launch of the GEM, Tsinghua Tongfang’s unique development model has excited the capital market: many companies incubating by Tsinghua Tongfang can be spun off.
On October 20th, Tongfang's shareholding company, BesTV, increased its capital by RMB665.59 million and was subscribed by Shanghai Oriental Media Group, Shanghai Chengbei Investment Consulting Co., Ltd. and Shanghai United Investment Corporation. At this point, the shares of BesTV held by Tongfang shares were diluted to 15.466%. Tongfang withdrew from the position of major shareholder and was interpreted by market participants as BesTV is about to be on the GEM.
On November 12, Jingyuan Electronics announced that it intends to issue 107 million shares to Tongfang, Qingjing Micro Technology and Zhao Weijian, and acquire 100% equity of Tongfang Microelectronics. Stimulated by this positive, the crystal source has a daily limit. This is actually a backdoor listing of Tongfang Electronics.
After 15 years of development, Tsinghua Tongfang has grown into a medium-sized enterprise with assets of 30 billion yuan, covering 12 industries including information systems, the Internet, environmental protection, and building energy conservation.
Lu Zhicheng also completed a difficult transition from professor to entrepreneur. Lu Zhicheng said that he is not confident in the combination of these two identities. As an entrepreneur, he wants to pursue profits and scale, as a professor he hopes for technological innovation. "First of all, we must train top experts. In this industry, the top three people in the country must have at least one in the same party." In Lu Zhicheng’s mind, it is clear that the size and profit of the company is the second, and what really makes him fascinated is "world class." The independent core technology is not to buy people, to use people's, but to really own things."
Dialogue Lu Zhicheng
"New Finance": As a school-run enterprise, what do you think is the advantage and disadvantage that this identity brings to Tsinghua Tongfang?
Lu Zhicheng: Tongfang is backed by Tsinghua and has a unique advantage. Tongfang's development model is to industrialize scientific and technological achievements, and in the process to incubate a group of high-tech enterprises, while cultivating leading figures in high-tech enterprises. We regard Tsinghua University as the "virtual research institute" of Tongfang. Tsinghua University has very strong human resources and project resources. We have found out good research results and invited relevant teachers to develop together.
If a company wants to develop, there must be a lot of investment in the future. The Tsinghua background of Tongfang can reduce the risk of investment pre-research. When the market needs it, we can find relevant experts in time. In the process of project industrialization, the project team teachers can go to the same party to industrialize the project. In the end, some people may stay in the company to become the general manager, and some people return to the department to continue to be professors after completing the mission. This is a very effective policy for Tsinghua University to support the development of the industry, which is called “transplantation with soilâ€.
"New Finance": Some people say that the biggest problem of school-run enterprises is management, such as corporate governance. How do you see this problem? What work will Tsinghua Tongfang do in management in recent years?
Lu Zhicheng: From the management mechanism, we have gone from a number of branch offices in the past to the headquarters system, to today's 12 headquarters system. In the future, we must also have institutional innovation, which is to be able to operate faster and better in a development stage of the enterprise.
Institutional innovation is very important in different stages of development of an enterprise. Some enterprises, especially state-owned enterprises, are somewhat restricted. It is difficult to innovate in system innovation and management system. It will delay a lot of time on some issues. This is a big problem. If the enterprise is not constrained, there will be many changes in the innovation of the mechanism.
What I am doing today is to make the management structure of the company better, the management of the department and the management of horizontal grouping. These two matrix managements become a mechanism, and who is the president is also this idea.
"New Finance": Tongfang has twelve major industries, and the industrial direction is very good, such as building energy, Internet of Things, semiconductor lighting, etc., all belong to the strategic emerging industries that the country strongly advocates. However, compared with such a large industrial cluster, why is the size of Tongfang only 30 billion yuan?
Lu Zhicheng: I think we will double in three years or so, no more than five years. However, the scale of more than 50 billion yuan is not enough. It will take 10 years to reach the scale of 100 billion yuan. On this issue, I also struggle with myself. Our goal may not be to reach hundreds of millions of dollars. Of course, there is no certain scale, nor can we become a world-class enterprise. So the scale must be, but more important is the scale of the content. In addition, we must pursue our core competitiveness. Now, we need to train top experts in major industries, and it is also important to manage talents.
"New Finance": What do you think Tsinghua Tongfang got in the capital market? How should companies use the capital market?
Lu Zhicheng: When Tongfang was founded, we relied on Tsinghua University, which already had certain technical reserves and gathered a group of talents. However, due to lack of funds, we could not make scientific and technological achievements bigger and stronger. At this time, listing became a key turning point. We proposed the strategic direction of “technology + capitalâ€. First, we learned how to survive and develop in the capital market. Second, we learned how to industrialize existing scientific and technological achievements into social services. .
Since it is "technology + capital", technology is always the core competitiveness of Tongfang. Different from many companies that take trade and technology routes, Tongfang is taking the road of combining "learning, research, production and use". This makes the same party enter the market late, but because of its own core technological advantages, it can be in many fields. Post-production.
One of the practices of Tongfang in cultivating the results of incubating scientific and technological research is called “proposed risk investmentâ€. It is essentially different from venture capital in the ordinary sense. The proposed venture capital investment is a fixed industry direction. Tongfang invests according to its own industrial planning, industrial development direction and industrial chain construction. After investment, it is not for the purpose of exit, but through the management policy of “asset authorization management, plan budget assessment, company supervision and executionâ€, assisting it to continue to do Big and strong.
At this stage, Tongfang has cultivated a group of outstanding enterprises including Weishi shares, artificial environment, HowNet, and microelectronics, and then a group of people, a technology, several rooms and several articles. The project of the thesis has evolved into a national and world-class technology enterprise.
"New Finance": Tsinghua Tongfang has always turned scientific research projects into profitable projects, but the problem is that the company's strategy and main business are easy to sway, and it is difficult to connect various industries. How to solve this problem?
Lu Zhicheng: Many of Tongfang's industries are actually centered on two major industries: IT and energy. Tongfang always invests and incubates according to its own industrial planning needs, which is fundamentally different from venture capital. Venture capital is to invest in 10 projects. As long as one of the projects has achieved 50 times of revenue, the other 9 projects can be abandoned. But the majority of Tongfang’s success is the vast majority because we are venture capital in the industry chain.
"New Finance": Professors are learning and teaching, and entrepreneurs are business and profit. How do you grasp these two roles?
Lu Zhicheng: When I decided to do something, I was both a professor and an entrepreneur. I had to have a professor's understanding of the trend of technology development and the entrepreneur's understanding of the current social needs. The combination of the two is the basis for decision-making. In this sense, I feel that I am not a good professor from the perspective of a pure professor. From an entrepreneurial point of view, I am not a good entrepreneur. I am a very good person in charge of the enterprise. It is a benevolent investor, not too harsh. Therefore, I am not qualified in these two aspects. I am a professor and I am an entrepreneur. I may be 60 points, just pass the exam and do the work well.
"New Finance": What level do you think Tongfang can achieve as a "world-class high-tech enterprise"? How long is the target implementation?
Lu Zhicheng: In fact, the conditions are very simple. First of all, you must have world-class talents, IT, and world-class talents in IT. At the same time, you must have world-class independent core technology, not to buy people, use people's Therefore, we must have what we really have; of course, as an industry, we must have the world's so-called market share, industry scale, and industrial influence. In this step, it is actually world-class.
It has only been 15 years since the establishment of Tongfang, and it is still a teenager, so it is still far from this goal. What we are doing today is to prepare for the realization of our dreams, so the road is still very long.
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
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