After experiencing multiple social changes and economic progress, a large number of influential enterprises have emerged in China.In the intelligent machine industry, Chen Mingyong led OPPO to complete multiple corporate transformations and become a well-known enterprise

After experiencing multiple social changes and economic progress, a large number of influential enterprises have emerged in China.

In the intelligent machine industry, Chen Mingyong led OPPO to complete multiple corporate transformations and become a well-known enterprise. With clear image quality, excellent battery life, and extremely high cost-effectiveness, the peak sales volume reached 110 million, occupying a huge market share.

From a child from a poor family to a person on the 2022 Rich List, what kind of journey did he go through with OPPO? Why insist on not listing?

The Road of 'Counterattack'

Chen Mingyong was born in a rural area of Sichuan in 1969. During his childhood, Chen Mingyong's family was in dire straits and his parents were always struggling for a living. Living in such a background, Chen Mingyong was very sensible from a young age and made his parents worry free.

Fortunately, Chen Mingyong's parents understood the importance of knowledge and had always supported him in receiving a good education, placing great expectations on him. Finally, Chen Mingyong graduated from Zhejiang University with his own efforts to pursue further education in Information and Electronic Engineering.

After graduation, Chen Mingyong interned at the then popular "Little Overlord" company, which had just acquired the "Step by Step Machine" brand and completed a new round of expansion, requiring members to be responsible for the new sector. As a newcomer, Chen Mingyong was highly valued by Duan Yongping, the "father of investment", with a down-to-earth attitude and excellent work ability, and was given the first opportunity to showcase his skills.

Chen Mingyong, who was appointed as an administrator for the first time, faced the rapidly iterating market for finished products. He grasped the psychology and needs of consumers and demanded that employees design innovative, avant-garde, and trendy products with their own industry characteristics and advantages. Add popular elements and bold and vibrant colors to the DVD.

His foresight quickly received market feedback, laying a solid foundation for his future work.

The electronic product market in the 21st century has been impacted by various countries and is constantly changing.

In 2001, the era of DVDs came to an end, and the demand for DVDs in the market bottomed out, completely becoming a memory of the past era. MP3 has entered the public eye and become a new darling of the market. Chen Mingyong made a decisive decision and gave up DVD production, officially renaming "Bubugao" as OPPO, embarking on a new path.

The new MP3 products released by OPPO at the beginning of its establishment became a trend and were accepted by the public.

After experiencing this incident, Chen Mingyong deeply understood that MP3 will eventually be eliminated by the times. He became the first group of people to come into contact with the mobile phone market.

At the moment when the industry was emerging, Chen Mingyong invested a large amount of research and development funds, reaching 50 billion yuan in just three years. He delved into the performance of mobile phones, attracted customers with a consistent aesthetic, and lowered phone prices, making them affordable for ordinary income employees.This has opened up a huge market for OPPO and earned a lot of reputation and capital.

Nowadays, OPPO still pays attention to fashion trends, constantly trying color combinations, and launching new products with clear pixels and excellent sound quality, firmly controlling consumers' attention. Not only has it become a recognized brand by Chinese people, but its various products are also exported to overseas countries.

The option of 'not going public'

In the interview, Chen Mingyong admitted that the company is ready to go public at any time, but at this stage, there is no such plan.

The biggest benefit of going public is to raise funds publicly and increase awareness. Currently, OPPO has no demand for either.

Firstly, as a thriving brand in the domestic mobile phone market, OPPO has already spread throughout the internet world.

Furthermore, according to professionals, many mobile phone retailers are very willing to cooperate with OPPO, with a large order volume and one of the best payment speeds in the industry, with sales reaching over 100 million units.

The payment speed of partners is an intuitive factor in determining a company's financial situation. It can be seen that OPPO has a very abundant flow of funds, and its self recovery speed is extremely fast. The investment in research and development, promotion, and other aspects is within the plan, and there is no need to publicly raise funds from society.

Going public can also bring difficulties. Selling equity to society will inevitably dilute the company's rights. Excessive decentralization of power will lead to a decrease in leadership efficiency, inability to make accurate adjustments to business strategies, and can also disrupt company construction, affecting the operation of corporate policies.

Information transparency is also a major challenge for private enterprises, which means that they need to obtain benefits in the shortest possible time to attract investment. For enterprises, focusing solely on immediate interests and giving up long-term plans is a huge crisis. At the same time, it is important to pay attention to every detail. Any slight disturbance may cause shareholders to sell their stocks, bringing a fatal blow to the development of the enterprise.

In the fierce competition in the industry, many excellent enterprises have emerged, and many brands have slid to the bottom, never recovering and wandering on the brink of bankruptcy.

From the development of OPPO, it can be seen that continuous innovation, continuous technological breakthroughs, seizing consumer demand, and standing at the forefront of the times are one of the secrets to a company's growth and strength, and enduring prosperity.

The input cost is the innovation of the product, and if it is not listed, it is to retain the right to speak for the enterprise. Everything is a decision made after careful consideration.

I believe that in the future development process, more "Chen Mingyong" will appear, bringing about industry changes and even profound impacts on the entire economy and society.

After reading this article, if you have any opinions or ideas, please feel free to discuss them in the comments section.

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