Diamond Xinfu Chen Huairong: 15 years to build the largest enterprise
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Along with its landing, a group of billionaires represented by Chairman Chen Huairong will also surface.
According to the prospectus, Boshen Tools intends to publicly issue 43.4 million shares, and the total share capital after the issuance is 173.4 million shares.
In 2007, the net profit of Boshen Tools was 54.107 million yuan. According to the total share capital after the issuance, the earnings per share was about 0.31 yuan. According to the 30 times price-earnings ratio, the stock price was about 9.3 yuan. Based on this calculation, Chen Huairong, the chairman of the company with a shareholding ratio of 22.5%, will have a net worth of 360 million yuan after the company's listing.
Boshen Tools is a national high-tech enterprise specializing in R&D, production and sales of diamond tools, power tools and alloy tool products. It owns two wholly-owned subsidiaries of Boshen and Singapore Boshen and has offices in Europe.
Its predecessor is Shijiazhuang Boshen Tools Group Co., Ltd., headquartered in the National High-tech Industrial Development Zone of Shijiazhuang City, with a registered capital of 130 million yuan, is the largest diamond tool manufacturer in China.
In the early 1990s, diamond tools entered a period of large-scale development and application, but the domestic market was always monopolized by foreign brands.
Chen Huairong is optimistic about this business opportunity. At the end of 1994, he and four colleagues resigned from Shijiazhuang Coal Mine Machinery Factory and founded Boshen Tools Co., Ltd. to get involved in the diamond industry.
After the first batch of products came out, Chen Huairong personally led the staff to the door-to-door sales promotion. When you see the door, you can go in and blast it out until you can put it on the shelves of the people's store or try it out in the factory. At the same time, try the product "pay later."
Gradually, the product has a market. At the end of 1995, the team of Chen Huairong successfully completed sales of 6 million yuan.
With genuine products, Boshen achieved sales of 12 million yuan in 1996 and a profit of 4 million yuan.
In 1998, Boshen Company had its own production workshop, built a research building, quality inspection room, bought large equipment, and achieved sales of 40 million yuan. They have jointly carried out project research and development with internationally renowned companies, and have more than 90 national patents. More than 20 product projects have been listed as national, provincial and municipal key projects.
At present, Boshen Tools has more than 1,800 employees and annual sales income of nearly 400 million yuan, making it the largest diamond tool manufacturer in the country.