Wang Junjin: It is more important for a company to grow longer than to grow big

In the late 1980s, Mr. Wang, a low-key, steady man, traveled with his eldest brother. At the beginning of the 1990s, they contracted the route from Changsha to Wenzhou. At the time, it was a bold move.

In 2002, as a private enterprise, Wanyao invested 108 million yuan to become a shareholder of China Eastern Airlines Wuhan Company. The aviation industry, which has a "glass door" to private capital, struggled with state-owned enterprises in the equity competition. In people's eyes, this is more complete "audacity".

Due to overwork, Wang Junyao died young and sadly. Although already had the psychological preparation, the eldest brother died after days or let Wang Junjin lose, "fortunately, the enterprise has not chaos". He stepped forward to maintain a smooth transition in the group.

"The group should be a century-old store" is a sentence that Wang Junyao said most before her death. This goal, in the hands of Wang Junjin, continued.

In August, Juneyao Airlines will launch a direct flight from Shanghai to Okinawa, Japan. In the face of competition from the powerful state-owned airlines, Wang knew that to gain a place in the competition, he had to make his brand and characteristics, and he had to "outsmart" his way to success.

Grassroots Wen Shang: Bold "Baotian"

'The decision to leave home was a very natural one in Wenzhou at that time,' Mr. Wang said, recalling the time he left home to start his own business. "In the local area, as long as there is a bit of ability, all want to be the boss, they want to go out to try, even if they do not work, then come back to do well."

Wang Junjin recalls that in the early 1990s, many young Wenzhou residents left home carrying their bags to run businesses, supplies, and marketing. "That's why Wenzhou later had so many bosses in all kinds of industries and fields." Among those eager entrepreneurs are Wang Junyao and Wang Junjin. During the Asian Games, they started selling flags and badges associated with the Games, making their first cash.

With the first bucket of gold, Wang Junjin followed his brother to Hunan. Although my experience in Hunan did not accumulate much wealth, I accumulated important experience for starting a business.

"Experience is important because with experience comes a lot of judgment." Recalling his time in Hunan, Mr. Wang called it a period of "accumulation" or "preliminary accumulation."

"To see the world, when you are just starting, you need to work hard in all aspects." This is how he described the scene.

On the way, the train is crowded with migrant workers carrying bags and bags. Sometimes the brothers had no seats on the train, so they had to stand in the crowd for a long time, or even sleep under the train seat.

Speaking about this experience, Wang Junjin believes that it played a great role in their future business development. "For subsequent growth, it is very important to experience, experience, which I think is very important."

These are not the only gains of toil. The experience of running around and working hard on the road not only sharpened their spirit but also brought them the idea of starting a business unexpectedly.

At THAT TIME, many Wenzhou fellow migrant workers in Hunan do business, hard work for several years down, accumulated under a box of cash how to take home? A fellow countryman proposed: "It is better to pack a plane to go back, take the fellow countryman back together."

At that time, whether it was a joke or a real demand, Wang Junyao and Wang Junyao kept such a suggestion in mind and tried to push it. "That's how we started, to reach out, to talk, to bag a plane."

But how easy is it to be the first to eat crab? The difficulties were obvious: for one thing, there were no flights to Wenzhou, or even to Hangzhou, the provincial capital. Second, to open air routes, need to go to the relevant departments to examine and approve, time is too late.

Although there were many difficulties, after negotiating with the civil aviation department, the brothers learned that if they wanted to charter planes for a long time, they could discuss it. So, with a glimmer of hope, they continued to strengthen contact with civil aviation authorities, gradually understanding the need for charter flights, what procedures to go through, and how to manage possible risks and other issues.

Everything comes to those who wait. After more than half a year of communication, more than 100 seals were stamped by various departments, and the documents were tens of centimeters thick when stacked up. Finally, Wang Junyao and his brother got the approval documents from the Civil Aviation Administration and the Air Force and contracted the route from Changsha to Wenzhou.

"At that time, there was a saying of 'covering the land and the sky, and we were 'covering the sky'." "Mr. Wang said proudly.

At that time, to buy a plane ticket, you needed to be above the level of the regiment, and you needed a letter of introduction. Very few people fly. "So we are relatively early in this class, in this field." He always remembered the important date, July 28, 1991.

Wrestling state-owned enterprises: success or failure is experience

With the success of charter flights, the careers of the three brothers gradually took off.

When asked who had the final say when there were disagreements, Mr. Wang smiled and said, "When making a big decision, everyone's opinion will be expressed, but in the end, the big brother has the final say. That's the rule."

But, he adds, because the business is so new, there's nothing that you can't agree on. "At that time, the enterprise was not big, it was a small start-up, and these things were relatively simple. There was no shareholders' meeting, no board of directors, nothing so complicated."

In 2002, as a private enterprise, Wanyao invested 108 million yuan to buy a stake in China Eastern Airlines Wuhan Company, which was once regarded as one of the landmark events in the marketization of the civil aviation industry. It took three years from the start of negotiations to the official stake, and Mr. Wang, who handled the whole process at the time, believes that the decision to buy a stake in China Eastern "had to do with our obsession to get into the airline's main operating business."

In the operation after the investment, the state-owned leading China Eastern Airlines, and the private Guangyao in the style of the different gradually revealed. "In terms of efficiency, in terms of decisions, there were a lot of decisions that we felt were inappropriate and shouldn't have been made, and so there was some disagreement."

During this time, another great event occurred, which also changed the life trajectory of Wang Junjin and the development direction of the Junyao Group.

In November 2004, Wang Junyao, chairman of Junyao Group, died of illness. Ten days after Wang's death, the group held a press conference and Wang Junjin stepped forward to take over as chairman.

Mr. Wang said that although the group had been prepared, his brother's death had left him confused. "A lot of things are easier when the boss is there."

He has maintained a smooth transition of the group, including the acquisition of a 90 percent stake in Wuxi Commercial Building Group, to lay the foundation for a future foray into retail commerce.

In the aviation sector, when Wuhan Airlines, which is part of the State-owned Assets Supervision and Administration Commission of Wuhan City, offered to sell a 40 percent stake in the Wuhan branch of China Eastern Airlines, both Ms. Kwan and China Eastern wanted to take over the stake. After the intense game, the end of the withdrawal of Junyao group.

"It was natural that we didn't get it in the end. China Eastern Airlines is a big state-owned airline enterprise, from the government's point of view, certainly to the big state-owned airlines or more at ease." "Mr. Wang said.

Although the whole process was not smooth, Wang Junjin mentioned in the summary of this experience that the appointment of the chief financial officer made the company clear in the whole operation, financial data, cost, and other indicators, which accumulated experience for the future establishment of Juneyao Airlines.