Song Zheng also analyzed the true meaning of "good children" and the "Westernization Movement" four times.

Song Zheng, who has always been low-key and introverted, was once again pushed into the media spotlight. A few days ago, the Ernst & Young China Entrepreneurship Award was announced in Beijing. Song Zheng, President of Goodbaby Group, also won the award among many entrepreneurs. The Ernst & Young Entrepreneurship Award was held for the first time in the United States in 1986. In the world of management, this award is called the "Oscar" of the corporate world. This is the first time it has entered China.

Among the selection materials, Ernst & Young’s evaluation is: “Good Kids” has occupied half of the children’s market in the United States. At the same time, more than 2,200 patents have achieved the status of "good children" as the first independent brand for Chinese children, and they have entered 400 million households in the world. This is known as the "good boy phenomenon" in the industry. This shows that independent intellectual property rights are the passport for entering the international market.

The first "Westernization Movement":

Foreign shareholders

Good children are already a household name in China, but Song Zheng has never been satisfied. He worked more than 60 hours per week. The entrepreneurial spirit embodied in him and the performance of good children in corporate governance, financial performance, strategic orientation, innovation awareness, and global influence were enough to make Song Zheng still His company has become a model in the industry.

The insider knows that behind the beauty of a good boy today, there is countless hard work and wisdom in Song Zheng. In the past 16 years, the Goodbaby Group has completed three "Westernization Movements." Every "Westernization Movement" has given good children a chance to "develop" again, helping them to jump from a bankruptcy school-run factory to a large enterprise group with an annual sales income of about 2.7 billion yuan.

In front of the reporter, Song Zheng, who was wearing a white shirt and wearing fine-edged glasses, was still elegant and peaceful. His words and deeds conveyed the spirit of a gentleman. This private entrepreneur from a family of Chinese medicine practitioners still maintains a low-key style and does not raise publicity.

In early 2006, the European PAG Group acquired the Goodbaby Group shares held by Hong Kong First Shanghai, Japan SoftBank Group (SB) and American International Group (AIG)'s China Retail Fund (CRF) for US$122.5 million. So far, PAG Group has become the absolute controlling shareholder of Goodbaby Group. It is worth noting that the purchase price of PAG Group is equivalent to 15.74 times the net profit of good children in 2004. At the same time, this acquisition has also become the first case of capital market leveraged acquisition of Chinese business.

Song Zheng, president of Goodbaby Group, also pointed out: “Goodbaby has never let the shareholders who invest in it disappointed. The first Shanghai, SB and CRF who gave good children's shares to PAG Group are not founding shareholders of good children. They are also from Someone else has gained good children’s equity through high prices, and this time it has changed hands, and it has already earned a lot of pounds.The first Shanghai sells at a price nearly five times that at the time of the acquisition, while the SB and CRF sell at a price that is acquired. 2 times of the time."

Song Zheng also said that in 1994, Goodbaby exchanged 33% of the stock for a $4.5 million investment in Hong Kong China Property. In 1996, the good boy re-invested 33% of his shares in Hong Kong's first Shanghai investment of 6.7 million U.S. dollars. It goes without saying that the good boy’s equity has increased by 53.33% in one year. Shortly afterwards, First Shanghai completed a 33% equity swap deal with China’s homeowner with US$10 million. In 2000, Goodbaby reintroduced strategic investors to develop e-commerce. SB and CRF also acquired a 13.2% share of US$9 million.

Song Zheng also believes that several successful overseas financings have achieved absolute absolute dominance of the good boy in the market. The history of capital entry is the history of good children growing up.

The second "Westernization Movement":

Enter the European and American markets

Song Zheng also said that good children are completely based on patented technology to open overseas markets. Strong product development capabilities are the core competitiveness of good children. He believes that good children's products must have three elements at the same time: they must have a unique idea, but also to adapt to the style of the local market, and finally must have the ability to commercialize the design program.

Almost all overseas employees of good children are local people. Song Zheng also believes that the local people can better understand the local consumer culture. Now, the wages of foreign employees who are paid monthly by good boys already account for 43.6% of the salaries of middle-level and above cadres. In the past two years, the average annual sales growth rate of the baby stroller market in the United States is only 5% to 6%, but the growth rate of good children in the United States has reached 10%. Goodbaby, a sports and leisure baby carriage developed for the European market a year ago, has a wholesale price of more than 700 euros and a gross profit margin of more than 20%. Less than a year after its launch, the car sold more than 200,000 vehicles in Europe.