Industry Day Showing the Chancellor candidate

Status: 06/22/2021 6:12 p.m.

How can the climate change succeed and Germany be preserved as an industrial location? The Chancellor candidates gave outlooks at the Industry Day. In the end there was nothing more than friendly applause.

From Eva Ellermann, ARD capital studio

German industry is worried: climate neutrality by 2045 – how should Germany, a country of industry, export and innovation, achieve that?

The head of the Federal Association of German Industry (BDI), Siegfried Russwurm, fears that new climate protection goals and specifications will overwhelm the industry: “Just to raise the bar, although athletes and coaches don’t yet know how to cope with the lower ones – that is not a successful training strategy. And to do that as a trainer, and certainly not to talk to the athlete about it beforehand. ”

Merkel’s last day of industry

Chancellor Angela Merkel does not find it difficult to commit to Germany as an industrial location, but she warns that self-evident things have to be worked out over and over again.

It is her last appearance at an Industry Day and she uses it to make demands on the hosts on the way to climate neutrality: “We urgently need – we should work with the BDI – a forecast for electricity demand in 2030. The Assumptions that the electricity price will not increase are probably not sustainable. Then we need a plan that requires more line construction than we have planned today, “said Merkel.

SPD Chancellor candidate Olaf Scholz shares the Chancellor’s diagnosis and uses it to attack Federal Economics Minister Peter Altmaier. He assumes constant electricity consumption until 2030 – Scholz adds: “Let me say it loud and clear: the electricity lie.”

Scholz presents himself as a doer. He promises the industry that electricity will remain affordable for them. “That is why we will abolish the EEG surcharge by 2025 and reorganize the taxes and surcharges in the energy sector,” said Scholz. “My goal is an industrial electricity price of four cents.”

Laschet: no tax increases

Competitor Armin Laschet is not that specific. The Union chancellor candidate shows understanding for the concerns of the industry. “My idea is that in 20 years’ time we will still have a steel industry, still have a chemical industry, another automotive industry – then climate-neutral,” says Laschet. “But if you do not formulate this goal at the beginning, but just keep increasing guidelines and limit values, issuing bans, you will in the end gamble away the status of the industrialized country.”

The “Corona Method” with regulations down to the smallest detail does not fit the future. Laschet promises: less maneuvering and no tax increases.

There is no getting around climate neutrality, emphasized Annalena Baerbock. Image: dpa

Of course, Green Chancellor candidate Annalena Baerbock knows that this is her address too, but she emphasizes that there is no getting around the goal of climate neutrality: “Whether you like it or not – the competition is about who will be the markets of the future first achieved climate-neutral, in the future it will also have the edge in terms of economy and thus socio-political. ” The course must now be set for a social and climate-friendly market economy, said Baerbock. All three candidates for Chancellor appear a bit nervous at their show in front of the most important German business association. At the end of the day there is friendly applause for everyone, but no more at the German Industry Day

Source | Mustang Finance

But in three years, Wan Hongjian, the eldest son of Shuanghui Empire, was “kicked” out of the core power circle by his father, Bandung. His second son, Wan Hongwei, had a play?

Recently, Wanzhou International (0288.HK), the world’s largest pork processing company, suddenly announced that it intends to remove Wan Hongjian from the positions of executive director and vice president, with immediate effect.

The reason for the recall was that Wan Hongjian had recently committed an “improper attack” to the company’s property, making the company believe that he was “unable to perform his responsibilities as a director, prudence and diligence.”

▲ Picture source: Wanzhou International Announcement As soon as the announcement came out, there was an uproar. Wan Hongjian is the eldest son of Wanlong, the founder of Wanzhou International, and has been in the company for many years. . It is worth noting that the inscription of this dismissal announcement is: “Bandung, Chairman and Chief Executive Officer of Wanzhou International Co., Ltd. by order of the board of directors”, which means that this is a “recall order” signed by Bandung himself. What happened between the 81-year-old founder and the 52-year-old eldest son? How will Wanzhou International’s scepter handover plan follow up? Only 16 days have passed since the high vote was elected In China’s pork products industry, no one can match Shuanghui. Under Bandung’s iron fist, Shuanghui has grown from a small meat factory on the verge of bankruptcy to a multinational giant with an annual sales revenue of more than 20 billion U.S. dollars. Bandung is also known as the “king of pigs” and “the world’s number one butcher”. . Bandung, now in its elder age, still owns two listed companies, Shuanghui Development (000895.SZ) and Wanzhou International, with a total market value of more than RMB 190 billion. ▲Image source of Bandung: the company’s official website Wan Hongjian, the eldest son of Bandung, was once regarded as the successor of the “Pork Empire”. Public information shows that Wan Hongjian was born in 1969. From 1990 to 2010, he started as a front-line worker in the deli workshop, and then successively served as the sales director of the Beijing office of the sales department of Shuanghui Group and the deputy director of the foreign trade department. Since February 2012, he has served as Deputy General Manager, Director of International Trade Department, and Vice President of Rotex, the parent company of Shuanghui Development. In 2018, Wan Hongjian was elected as the executive director of Wanzhou International and entered the core decision-making level. At the Wanzhou International Shareholders’ Meeting on June 1, 2021, Wan Hongjian had just been re-elected as an executive director, with 91.1% of the votes in favor, which was even higher than the 75.2% of his father, Bandung. At this time, there are still 16 days before he is removed… ▲Image source: Wanzhou International Announcement After this vote, Wanzhou International immediately announced its intention to repurchase 1.917 billion shares at a price of HK$7.8 per share, involving a capital of HK$14.95 billion. The purpose is to optimize the company’s capital structure, increase the earnings per share of the shares, and reduce the group’s capital cost. Generally speaking, if the stock repurchase plan from public shareholders goes well, the shareholding of listed companies will increase, and the corresponding right to speak will be even greater. As the eldest son, Wan Hongjian is not associated with many companies under the Shuanghui Department. According to Tianyan, he only worked in Guangzhou Shuanghui Commercial Chain Co., Ltd. (hereinafter referred to as “Guangzhou Shuanghui”), Qingyuan Shuanghui Commercial Investment Co., Ltd. (hereinafter referred to as “Qingyuan Shuanghui”), and Wuhu Shuanghui Import and Export Trade Co., Ltd. (hereinafter referred to as “Wuhu”). Shuanghui”) has served as a shareholder and executive. In addition, he has served as the legal representative of Luohe Industrial Investment. Among them, Wan Hongjian is the largest shareholder of Qingyuan Shuanghui. Through this company, he controls 14.67% of Guangzhou Shuanghui’s shares, but both companies have been cancelled. Wuhu Shuanghui, where he served as an executive, is still in existence and is controlled by Rotex. Who will take over? With Wan Hongjian’s sudden dismissal, the succession issue of the Shuanghui system will become complicated and confusing again. Regarding the issue of succession, Bandung said in an interview with CBN in March 2015 that it had already considered ten years ago that it must be resolved through mechanisms. When the succession team matures in 2017, they will withdraw. “I will solve this problem first from the mechanism. The first is to quantify the standards, and the corresponding levels must meet the corresponding standards, that is, to bear the corresponding responsibilities; the second is to compete for posts. All managers at all levels are competing for posts, and A special assessment mechanism is required to be assessed every month and every year. It is precisely because of this set of methods that successors and management teams must rely on this mechanism to generate them.” Bandung said. In March 2018, Wanzhou International announced that the vice president Wan Hongjian was appointed as an executive director. Only a few months later, Wan Hongjian was promoted to vice chairman of the board of directors and held multiple positions at the same time. While Wan Hongjian was entrusted with the important task, Wan Hongwei’s second son Wan Hongwei was also nominated as a non-independent director candidate for the board of directors of Shuanghui Development. According to the data, Wan Hongwei was born in 1973, has a bachelor’s degree, and is a Hong Kong resident. In his early years, he was the director of the Hong Kong branch of Shuanghui Group, the deputy manager of Shuanghui Group Import and Export Company, and the secretary to the chairman of Shuanghui Group. This also means that both Bandung sons have entered the core management of Wanzhou and Shuanghui, which is interpreted by the media as Bandung is preparing for retirement. At the beginning of 2019, Shuanghui Development announced that it intends to issue shares to Rotex, the sole shareholder of the controlling shareholder Shuanghui Group, and rarely adopts the acquisition method of absorbing and merging the parent company by subsidiaries, with the intention of realizing the overall listing of Shuanghui Group. This is also another major capital operation undertaken by Bandung after the acquisition of Smithfield and the promotion of the listing of Wanzhou International. Public information shows that the shareholding structure of Shuanghui Development is quite complicated. Its ultimate actual controller is Xingtai Group Co., Ltd. (hereinafter referred to as “Xingtai Group”) registered in the British Virgin Islands. Its specific shareholding structure is: Xingtai Group holds Xiongyu Investment holds 100% of the shares. Xiongyu Investment is the largest shareholder of Wanzhou International listed in Hong Kong. Wanzhou International holds 100% of Rotex through its wholly-owned subsidiary, Glorious Link, and Rotex holds 100% of Shuanghui Group. % Equity, Shuanghui Group holds Shuanghui Development. Exploring all the way down, from Xingtai Group to Shuanghui Development, its shareholding structure has as many as seven layers. A financial person familiar with Shuanghui told Yema Finance, The overall listing of Shuanghui Group through mergers and acquisitions is an optimization of the equity relationship between Shuanghui Development, Wanzhou International and Xingtai Group by Bandung for its succession plan, which is conducive to strengthening its family’s control over Shuanghui Group. ▲Photo by Yema Finance After Wan Hongjian’s related positions were removed, Wanzhou International currently has only four executive directors: Bandung, Guo Lijun (CFO), Dennis Pat Rick Organ (President and Chief Executive Officer of Smithfield Foods), and Ma Xiangjie (Henan Shuanghui Investment Development) President of the company limited by shares). Wanlong’s second son, Wan Hongwei, also served as an assistant to the chairman of Wanzhou International, but was not a member of the board of directors. The eldest son is frustrated, will the second son Wan Hongwei be pushed to the front? China Food Industry Analyst Zhu Danpeng told Yema Finance, Bandung is more cautious and suspicious. Wan Hongjian’s dismissal is not just about performance, but also some deep-seated problems, including strategy and business philosophy. “So I think Bandung’s youngest son will go to the front of the stage. .” In addition, there are also reports that Wan Zihao, the grandson of Bandung, had served in Shuanghui as early as the vice president of Shuanghui Development. Tianyancha shows that a person named Wan Zihao serves as a director in all seven companies under Shuanghui. However, in the Shuanghui Development Announcement, Wan Zihao’s name was not retrieved. The chairman of the board of directors is still controlled by Bandung, and the “successor candidate” seems unclear. It’s not uncommon to “destroy the long and raise the young” Fathers start their own businesses, and there are many “family succession” paths passed down by their children, and it is not uncommon for second sons to succeed. Linyuan Group is the largest private enterprise group in Taiwan. It was founded by well-known Taiwanese entrepreneur Cai Wanlin. Its predecessor and core company is Cathay Life Insurance. The “Cai Family” represented by Cai Wanlin is Taiwan’s top consortium and Taiwan’s leading financial capital. In July 1995, the US “Forbes” announced the world’s top ten richest people. Cai Wanlin ranked sixth in the world with 8.5 billion US dollars, and was once the world’s richest Chinese. On September 27, 2004, Cai Wanlin unfortunately passed away at the age of 81. Linyuan Group is now succeeded by Cai Hongtu, the second son of Cai Wanlin. According to the data, Cai Hongtu is 69 years old this year, graduated from the Department of Law of National Taiwan University, and later went to the United States for further study. At the age of 28, he obtained a doctor of law and returned to China. At the age of 38, he formally took over the post of chairman of Cathay Life Insurance from his father Cai Wanlin. Cai Hongtu is not the only “second generation” who was born with a golden spoon, studied abroad, and returned to the country to inherit his father’s career. Recently, the China Securities Regulatory Commission’s “Advance Notice of Administrative Penalties and Market Banning” has brought Yihua Life, a listed furniture company and the Chaoshan wealthy Liu Shaoxi family behind it, to the attention of the public. According to the “Administrative Punishment Letter”, after investigation, the China Securities Regulatory Commission determined that Yihua Life’s periodic reports from 2016 to 2019 contained serious false records, and the former chairman Liu Shaoxi was prohibited from entering the securities market for life. Liu Shaoxi is a Chaoshan capital boss. He was born in woodworking in his early years. With the enthusiasm of Chaoshan people to “work hard to win” for many years, Yihua Life has been transformed from a small furniture factory into the first private enterprise in Shantou. It is understood that in Chenghai District, Shantou, there is a jingle, “Chenghai Sanmo die (in dialect, meaning can’t die), Xuemin, must filial piety, Liu Shaoxi.” It means that the three people, including Liu Shaoxi, are in this small place in Chenghai. Turn your hands for the clouds and cover your hands for the rain, and you can’t die. Yihua Life is a typical Chaoshan family business. Many companies under the “Yihua Department” have Liu Shaoxi’s family. Liu Shaoxi’s eldest son Liu Zhuangqing is responsible for the health and capital sectors of the “Yihua Department”; Liu Shaoxi’s second son Liu Zhuangchao takes over Yihua Wood; Liu Shaosheng, the younger brother of Liu Shaoxi, once took over the real estate sector of the “Yihua Department”. Among them, the second son, Liu Zhuangchao, inherited the life in Yihua, the origin of the “Yihua family”. According to data, Liu Zhuangchao went to study in the United States when he was 16 years old. After graduating in 2010, he was only 22 years old and joined the Yihua Life management team. In 2017, Liu Zhuangchao was elected as the chairman of the new board of directors of Yihua Life. At that time, Liu Zhuangchao took the top position of the “Yihua Department” at the age of 29. The “second generation” of Chaoshan family businesses and the real estate company Hesheng Chuangzhan. Zhu Jurong, 32, is the jewel in the hands of Zhu Mengyi, founder of Hopson International. Zhu Jurong started working as an assistant to the president in the company as early as 2009, when he was 20 years old. In 2012, she was appointed as executive director and executive vice president, and was promoted to vice chairman of the board of directors in 2013. On January 10, 2020, Zhu Jurong took over the burden of Zhu Mengyi and became the new chairman of the board of directors of Hopson Chuangzhan. It is understood that Zhu Jurong has two older brothers, both of whom are also working hard in the family business. Some analysis pointed out that Chaoshan people have a tradition of “preferring boys to girls”. Zhu Mengyi’s ability to hand over important listed real estate companies in the hands of young women is evident in his preference for his daughters and Zhu Jurong’s strength. The quasi “post-85” born in finance did not disappoint his fathers. In the first year at the helm, he handed over a beautiful report card in equity investment, which is a typical “one generation engaged in industry and the second generation invested.” Hesheng Chuangzhan, which she is in charge, bought shares of Ping An Insurance, Xiaomi Group, Ping An Health, HSBC Holdings, and China Mobile. As of November 19 last year, except for China Mobile’s loss of HK$186 million, all other stocks have achieved profitability. It brought a book profit of over 3.7 billion Hong Kong dollars for Hopson Development, or about 3.1 billion yuan. For comparison, in the first half of 2020, Hopson Development’s net profit was HK$5.1 billion. If we take HK$3.7 billion as the net profit yardstick for real estate companies, only 22 real estate companies outperform Hopson Chuangzhan, but their revenue is much higher than Hopson Chuangzhan. But not all private companies will choose family members to succeed, compared to how to enjoy the Midea Group, which has a market value of more than 500 billion yuan. Although the sons, daughters, and daughters-in-law of the He family are all talents, the business of Midea mainly relies on the team of professional manager Fang Hongbo. Midea Group’s 2020 semi-annual report data shows that Fang Hongbo, chairman and president, will receive 9.63 million yuan of pre-tax remuneration from the company in 2020; vice presidents Yin Bitong, Gu Yanmin, and Zhu Fengtao will be 7.65 million yuan, 3.48 million yuan, and 4.94 million yuan respectively. yuan. “Sharing” may be the most important secret of “beauty”. ▲He Xiangjian Picture Source: Midea’s official website Li Delin, the well-known financial big V and the founder of Delin News, told Yema Finance, The most critical aspect of Midea’s succession issue is to “manage one’s own power and make good use of the people who can use it.” The He family has mastered the equity and control rights, and made good use of a team of professional managers like Fang Hongbo. And the most important question under the diversified expansion of the United States is whether it can find the second and third Fang Hongbo. Midea Group may be the most adept at using professional managers in the entire A-share listed company, and family members have built a huge “Midea Department” through investment and collaboration. According to incomplete statistics from Yema Finance, the He family members currently control 8 listed companies, including 6 A-shares, 1 Hong Kong stocks, 1 Germany, and 1 NEEQ company. They have also participated in more than 10 financial companies. Institutions spanning manufacturing, automotive, medical, real estate, environmental protection, film and television, finance and other industries, and are still expanding… This model also brings enlightenment to many family-owned private enterprises facing inheritance problems in the A-share market ! Which succession model is most suitable for family-owned private enterprises? Welcome to leave comments.

Aviation industry Corona isn’t the only problem

Status: 06/18/2021 6:46 a.m.

Aviation has been hit particularly hard by the Corona crisis. But the industry is also under pressure when it comes to climate protection. Will the change now succeed?

From Michael Immel, ARD aviation expert

The mood in the aviation industry has brightened. Because quite a few planes are filling up again, and many people are looking forward to their summer vacation. And so bookings are going through the roof almost everywhere these days: Lufthansa, Eurowings and Condor – all are experiencing a huge summer trend.

Will the first be the last?

The “National Aviation Conference”, which today is attended by top representatives from politics, business and trade unions at Berlin-Brandenburg Airport, wants to continue this positive trend. But it won’t be easy. Even if capacity utilization is now increasing sharply: over the year as a whole, the aviation industry will probably only end up at 40 to 50 percent of the pre-crisis level. Lufthansa boss Carsten Spohr had already stated last spring: “We were the first industry to be affected by this global crisis and aviation will be one of the last to leave it.”

Remove travel restrictions

In the joint declaration on the aviation conference to be signed in Berlin today, it is therefore stated: “After around 15 months of almost total standstill, the German air transport system is suffering from massive economic losses. Therefore, further decisions and measures are necessary to revive air traffic to support.”

It is primarily about travel restrictions that are to be lifted gradually. And to simplify travel, in particular through a digital vaccination certificate for proof of vaccination, recovery and test results. This should accelerate the processes at the airports.

Successful and sustainable

In the nine-page paper that tagesschau.de is available, the main focus is on a green strategy for the German aviation industry. The revival should be based entirely on sustainability. Climate protection, eco-efficiency and sustainable competitiveness: These are the future topics for the entire industry – which has also understood that lip service alone will not be enough in the future.

“An essential instrument for climate protection in air traffic is the rapid and continuous renewal of the aircraft fleets”, it says in the Berlin declaration. New commercial aircraft would emit up to 25 percent less CO2 than the previous generation. With the collapse of air traffic, however, the renewal of the fleet has largely come to a standstill. “That is why the federal government has initiated a funding program to provide an economic incentive for the fleet renewal. We are continuing to advocate for the rapid approval of the program under state aid law during this legislative period.”

Criticism from unions

Meanwhile, in the run-up to the aviation conference, there is massive criticism from unions. According to the ver.di survey, 16 percent of the workforce have left air transport since the beginning of the pandemic. “The numbers of downsizing are frightening,” said Mira Neumaier, ver.di federal specialist group leader for aviation, who is also taking part in the aviation conference today.

“In view of the extremely thin workforce even before the start of the pandemic and the great stress situation for the employees, it is to be feared that a regulated restart in air traffic – even at 50 percent of the pre-crisis level – will no longer be affordable.”

Securing jobs

“It is not enough to save corporations,” warns Stefan Herth, president of the cockpit pilots’ union. “The short-time work allowance was an important measure in the acute crisis. What we now need is the sustainable safeguarding of jobs. In the past year and a half, politics has shown too little commitment here,” said Herth.

As a major shareholder, the federal government also has the responsibility not to lose sight of the well-being of employees when making important business decisions. “Wage dumping and social cuts at state expense must not be accepted anywhere.”

Speaking at a regular press conference on the afternoon of June 15, Chinese Foreign Ministry spokesman Zhao Lijian affirmed that the comprehensive strategic cooperative partnership between China and Russia in the new era is the relationship between China and Russia. comprehensive, regardless of any changes. Cooperation between the two parties has no limits. He also stressed that any attempt to sabotage Sino-Russian relations would be doomed to failure. Chinese Foreign Ministry spokesman Zhao Lijian. (Photo: Reuters) The Chinese side’s statement came after Russian President Putin’s speech to the US media, affirming satisfaction at Russia-China relations “reaching an unprecedented height”, as well as appreciation for the fact that the two sides have reached an unprecedented height. The party maintains a high level of trust and cooperation in the fields of politics, economics, science and technology, military technology, etc., while recognizing that the Russia-US relationship is currently at a low level. the most in many years. In the words of a Chinese foreign ministry spokesman, Beijing and Moscow are “really united as mountains, the friendship is unbreakable”. The two countries have overcome the challenge of unexpected changes in the international situation and established a model model of a new type of relationship between great powers. Mr. Trieu Lap Kien said that in just 1 month, the two countries will celebrate the 20th anniversary of the signing of the “Treaty of friendship and cooperation between China and Russia”. This is an event of special significance in the relations between the two countries and will promote Sino-Russian cooperation on a higher starting point, broader scope and deeper level. He emphasized: “Real gold is not afraid of fire, we also advise those who are looking for ways to divide China-Russia relations that any attempt to destroy Sino-Russian relations will not be realized. . Hopefully these people won’t go too far down the road of zero-sum games and group political confrontation.” Immediately before these statements of the Chinese side, the G7 and NATO Summit simultaneously issued statements criticizing China and for the first time naming Beijing as a security threat and a serious challenge. system. Recently, Russian Ambassador to China Andrey Denisov, when responding to Chinese media, once affirmed that “it will not happen” that Russia separates from China and approaches the US when the Biden administration applies the strategy ” somewhat soften relations with Russia” to focus on dealing with China, according to him, “this view is too short-sighted”.

Leni was followed and guided by his mother Heidi Klum in the backstage of the shoot. The beloved daughter Leni of the cult supermodel U50 Heidi Klum has just appeared in the first solo cover photo of Glamor magazine with an anesthetic charm. 20 years ago, Heidi Klum was also the first model to appear in this publication. Impressing in a bright purple flower dress, Leni Klum is very brave and proves her natural acting ability in front of the camera when succeeding her mother. The teenage girl has big round eyes, a doll-like plump face and a radiant charm. The 16-year-old Leni Klum is 1m70 tall with the physique of a promising model Supermodel Heidi Klum’s daughter was praised by netizens as beautiful as an angel The full moon model inherits many of her mother’s beauty and long legs. The real teenage girl is Helene Boshoven Samuel, is the daughter of Heidi Klum and ex-lover – the boss of Formula 1 racing village Flavio Briatore. Sexy 16-year-old girl in backstage taking pictures Quite sternly, Heidi Klum once confirmed that she wanted her 16-year-old daughter to be a model. “She took part in the opening of Berlin Fashion Week, for the first time I saw my daughter striding on heels like a real fashion model. I felt very excited when I watched Leni perform, especially the first time I worked with her and now she’s doing everything herself, even though I’m there Leni has been following me to the photo shoots since she was a kid and is really bold in front of the camera turned. I went to Germany’s Next Top Model and Leni completed a lot of scenes modeling had to do. A lot of times at the end of the shoot, she said, “Now it’s my turn!” She really loves this job! ” She is very close to the famous mother