Immigrants from Wang Zihao

China's richest man, an Australian, has changed from a pauper to a successful person who talks about cooperation with the British prince. He lost 654.38+0.86 billion in the ups and downs of his career development. Who is he? Why is there such ups and downs in business life?

In recent years, the domestic photovoltaic industry has developed rapidly, and one of the first people to do business in this field is Shi, an Australian from China.

In 2006, Shi was 43 years old and became the richest man in China with a net worth of 654.38+086 billion. At the same time, because he is engaged in photovoltaic industry, he is known as the father of photovoltaic industry in China.

Shi Yu 1963 was born in a poor family in Jiangsu. He showed extraordinary learning ability since he was a child. At the age of 16, he was officially admitted to the optical research major of Jilin University.

1983 Shi Shi was sent overseas for postgraduate study because of his strong English communication skills, so Shi officially entered the University of South Wales on 1988.

At that time, martin green was a teacher. The professor won the Nobel Prize for Environment for his research on solar energy. Since then, under the guidance of Martin, Shi has made a breakthrough in the field of optics.

From 65438 to 0993, Shi became an Australian citizen. In 2000, I began to consider returning to China to start a business. At that time, under the pressure of his family, he chose to sell all his savings and return to China alone with $400,000.

After returning home, Shi only had $400,000 and several technical patent certificates, so he met Li without friends. Li was moved by Shi's investment spirit, and he was willing to give himself 8 million yuan to return investors to a world-leading enterprise. Since then, relying on his connections in Jiangsu, he has established Wuxi Suntech Solar Power Company with well-known enterprises such as Little Swan and Pharmaceutical Industry, and raised 6 million US dollars at 200 1, plus 400,000 US dollars of history and technology worth 6,543,800+6,000 US dollars.

However, for Shi, starting a business is very difficult. At that time, he faced multiple pressures from the top and bottom of the enterprise and team members. In order to solve the business dilemma, he worked continuously in the factory. Because he kept a posture for a long time, his legs often hurt.

Since then, Suntech Group has produced the first equipment, and the company has gradually gathered. After that, Shi went abroad to run the market, and in 2003 the company expanded production and put into production.

Since then, the company has purchased old equipment eliminated from abroad, saving more than RMB 10 million. With advanced equipment and related technologies, Suntech has quickly emerged from the losses in 2002, and its revenue performance in 2004 has increased by a full 20 times.

In 2005, Suntech went public in the United States. After the close of the day, Shi's personal net worth exceeded 1, and he became a well-deserved billionaire.

However, after the company went public, Shi's mentality began to change. Faced with huge income and profits, Shi began to indulge in pleasure.

He once said that he "will never make a penny again, just spend money". Since then, he bought nearly 65,438+00 luxury cars and spent $200,000 on a charter flight to talk about photovoltaic solar energy cooperation with the British prince.

At that time, the scale of China's photovoltaic industry could indeed support the extravagance and waste of history, but there were also huge hidden dangers, that is, most of the domestic photovoltaic industry's market share was in the hands of foreign enterprises, and most of the equipment, machinery and raw materials had to be imported from abroad.

In other words, stone enterprises are assembling foreign equipment and materials to a certain extent, lacking the competitive advantage of core technology.

After that, in 2008, the price of silicon materials used to manufacture photovoltaic solar products rose, which led to the extreme compression of the company's profit margin. At the same time, many competitive enterprises have emerged in this industry in China, and the development of Suntech Group has entered an unprecedented cold period.

By the end of 20 12, the debt scale of Suntech Group reached 8 1.8%, the production profit was not enough to fill the capital gap, and the stock price also showed a downward trend.

In this stormy time, he was forced to resign as CEO and chairman of the company. On March 20 13, suntech group went bankrupt and reorganized, and was officially delisted on February 20 14. Since then, Stone has completely lost 186 billion.

Today, Shi has changed from an industry leader to the boss of a bankrupt enterprise, and the domestic photovoltaic industry has also lost an excellent enterprise.