Exploring the story behind Zhejiang's "Jiaxing Big Dark Horse": Founded in 2010, enterprise valuation 49 billion
DATE:  Jun 20 2023

Ling Zhimin (LINGZHIMIN), born in January 1961, American nationality, permanent residency in the United States, graduated from the Department of Physics, Fudan University, majoring in semiconductors, and graduated from the Catholic University of Leuven, Belgium, majoring in microelectronics, with a doctoral degree.

He is currently the controlling shareholder, actual controller, chairman and general manager, and legal representative of Yuneng Technology Co., Ltd. Chairman and legal representative of Jiangsu Lingchu Yuneng Technology Co., Ltd.

on January 13, 2023, yuneng technology co., ltd. ranked 260th in the "2022 hurun China top 500" list with an enterprise valuation of 49 billion yuan.

as of March 31, 2023, yuneng technology (688348.SH) has total assets of 5.468 billion yuan, total liabilities of 1.622 billion yuan and net assets of 3.846 billion yuan.

as of June 19, 2023 Beijing time, the stock price of yuneng technology (688348.SH) is 265.21 yuan/share, with a total market value of 21.217 billion yuan.

according to the latest data of tianyan check APP, yuneng technology co., ltd. (formerly known as Zhejiang yuneng technology co., ltd.) was established in March 2010 and is located in Jiaxing city, Zhejiang province. it is an enterprise mainly engaged in electric power, heat production and supply.

is also a solar photovoltaic intelligent micro inverter as the core technology, the collection of power electronics, wireless communications, embedded software, cloud computing, high reliability technology and other technology platforms in the field of energy Internet leader.

Focus on the field of new energy of photovoltaic power generation, mainly engaged in the research and development, production and sales of component-level power electronic equipment in distributed photovoltaic power generation systems. The main products include micro-inverters, intelligent control shutters, energy communication and monitoring and analysis systems Wait.

With the advantages of R & D innovation, product certification and global marketing network, the company's products are sold to more than 90 countries and regions such as mainland China, America, Europe and Australia, forming a global sales and service network..

On June 8, 2022, Yu Neng Technology Co., Ltd. was listed on the Shanghai Stock Exchange's Kechuang Board (stock code 688348), becoming the 512 domestic listed company in Zhejiang and the 55th in Jiaxing.

The prospectus shows that Yuneng Technology's revenue in 2018, 2019, and 2020 will be 0.236 billion yuan, 0.385 billion yuan, and 0.489 billion yuan respectively; net profit will be 12.63 million yuan, 21.56 million yuan, and 75.66 million yuan respectively.

according to the 2022 annual report data released by yuneng technology (688348.SH), the enterprise will realize operating income of 1.338 billion yuan in 2022, up 101.27 year on year. The net profit attributable to the parent was 0.361 billion yuan, up 250.30 year on year.

through the big data analysis of eye search, yuenergy technology co., ltd. has invested a total of 10 enterprises, including Jiaxing yuzhong new energy technology co., ltd. and

Jiaxing Weihui Photovoltaic Technology Co., Ltd., Zhejiang Yingda Weixin Electronics Co., Ltd., Jiaxing Yuneng Trading Co., Ltd., Haining Yuneng Electronics Co., Ltd. (canceled), Zhejiang Chuangzhi New Energy Co., Ltd., Jingning Yuneng Technology Co., Ltd.,

and the absolute holding company Jiangsu Lingchu Yuneng Technology Co. In addition, there are Jiaxing Changhong Yuzhong New Energy Co., Ltd. (canceled), open string poly nuclear private equity investment fund (Qingdao) partnership (limited partnership) and other equity enterprises.

According to the latest data of public information of listed companies, the controlling shareholder and actual controller of Yuneng Technology Co., Ltd. are Ling Zhimin and Luo Yuhao respectively. The former holds 14.52 per cent of the shares of the enterprise and the latter 12.36 per cent.

In addition, the chairman, general manager and legal representative of Yuneng Technology Co., Ltd. are all Ling Zhimin. So, what is the story behind Ling Zhimin?

Characters main experience

Ling Zhimin is a top student in the Physics Department of Fudan University, and he is also the first batch of public students after my country's reform and opening up. At that time, the cost of studying abroad was borrowed by the Ministry of Education from the World Bank.

In October 1989, after graduating from the University of Leuven, 28-year-old Ling Zhimin received a postdoctoral research position in the Department of Electronic Engineering and Computer Science at the University of California, Berkeley. Since October 1990, he has been a senior chief engineer of AMD company in the United States.

Five years later, the restless Ling Zhimin left AMD and moved to another Silicon Valley chip company, Xilinx Semiconductor, as a senior director. The variable field logic gate chip invented by this company is the core device of the micro inverter.

In July 2007, 46-year-old Ling Zhimin crossed the border to serve as a senior vice president of an American Solaria company that produces low-power concentrating solar cells.

In the United States, Ling Zhimin lived and worked for more than twenty years. In mid -2009, Ling Zhimin and Dr. Luo Yuhao, who had been partners for 11 years, resigned and returned to China and officially started their business.

in March 2010, Ling Zhimin and Dr. Luo Yuhao jointly founded Zhejiang yuneng technology co., ltd (predecessor of yuneng technology) in Nanhu, Jiaxing, Zhejiang province.

In May 2013, Zhejiang Yuneng Photovoltaic Technology Integration Co., Ltd. under the leadership of Ling Zhimin launched its third-generation product since its official operation, the world's first "three-phase" micro-inverter, which shocked the industry.

In 2014, while successfully achieving the second-stage goal, Yuneng Technology also achieved the third-stage goal five years ahead of schedule, becoming the second largest company in the world in terms of micro-reverse shipments.

this year, 53-year-old ling zhimin invested in Jiaxing yuzhong new energy technology co., ltd. according to the latest data from tianyan, yuneng technology co., ltd. holds 100 per cent of the shares of the enterprise and has an absolute controlling stake.

through the analysis of big data, Jiaxing yuzhong new energy technology co., ltd. has invested in one enterprise, namely Jiaxing yuchuang energy co., ltd., a wholly-owned subsidiary.

through the analysis of big data, Jiaxing yuchuang energy co., ltd. has invested in one enterprise, namely Jiaxing hongyuan new energy co., ltd., a wholly-owned subsidiary.

in 2017, 56-year-old ling zhimin successively invested in Zhejiang yingda weixin electronics co., ltd. and Jiaxing changhong yuzhong new energy co., ltd. (canceled).

according to the latest data from tianyan, yuneng technology co., ltd. holds 100 of the former (I .e. a wholly-owned subsidiary) and 20% of the latter.

in 2018, 57-year-old ling zhimin successively invested in Jiaxing weihui photovoltaic technology co., ltd., a wholly-owned subsidiary of yuneng technology co., ltd., Haining yuneng electronics co., ltd. (canceled) and other enterprises.

In 2019, 58-year-old Ling Zhimin invested another 10 million yuan to establish Jiaxing Yuneng Trading Co., Ltd., a wholly-owned subsidiary of Yuneng Technology Co., Ltd.

in 2022, 61-year-old ling zhimin led yuneng technology co., ltd. to be listed on the sci-tech board of the Shanghai stock exchange (stock code 688348), becoming the 512 domestic listed company in Zhejiang and the 55th in Jiaxing.

Ling Zhimin, as the founder, controlling shareholder and actual controller of the enterprise, has doubled his value as a result, making it on the Hurun Rich list in 2022 for the first time, ranking 954 in the country with a wealth of 6.8 billion yuan and 12th in Jiaxing, Zhejiang Province.

this year, Ling Zhimin successively invested and founded Zhejiang Chuangzhi New Energy Co., Ltd., Jiangsu Lingchu Yuneng Technology Co., Ltd., Kaixian Junuclear Private Equity Investment Fund (Qingdao) Partnership (Limited Partnership) and other enterprises.

According to the latest data from Tianyan, Yuneng Technology Co., Ltd. invested 270 million yuan, 55 million yuan and 60 million yuan respectively in the above three enterprises, with the shareholding ratios of 100, 55% and 30% respectively.

through the big data analysis of the eye, Zhejiang chuangzhi new energy co., ltd. has invested in 9 enterprises, including Beijing zhongke haoxin technology co., ltd.

Mao Ruixin (Shenzhen) Technology Co., Ltd., Tyco Tianrun Semiconductor Technology (Beijing) Co., Ltd., Jiangsu Chaoxin Star Semiconductor Co., Ltd., Shanghai Weiwang Optoelectronics Technology Co., Ltd.,

Shanghai Jingxin Technology Co., Ltd., Hai Zhan Core Electronic Technology Co., Ltd., Shanghai Jingneng New Energy Co., Ltd., Zhuhai Gallium Future Technology Co., Ltd. and many other enterprises.

through the analysis of big data, Jiangsu lingchuyuneng technology co., ltd. has invested in 2 enterprises, including Jinhua lingchujinneng technology co., ltd., Tianjin aolian construction engineering co., ltd. and other wholly-owned subsidiaries.

in 2023, 62-year-old ling zhimin invested another 10 million yuan to establish jingning yueneng technology co., ltd., a wholly-owned subsidiary of yueneng technology co., ltd., in Lishui city, Zhejiang province.

Learning from successful experiences

Ling Zhimin is an entrepreneur with pioneering spirit and innovative ability. His successful entrepreneurial experience lies in mastering advanced technology and management experience, and actively applying it to practice.

He has served as senior director engineer and senior director in well-known companies such as AMD and Xilinx. In the end, Ling Zhimin chose to return to China to start his own business and founded Yu Neng Technology to start his own business.

Through continuous technological innovation and marketing, Ling Zhimin led the company to develop the world's first "three-phase" micro-inverter, and successfully listed on the Shanghai Stock Exchange Science and Technology Innovation Board, successfully building the company into a leading enterprise in the photovoltaic field.

Ling Zhimin's successful entrepreneurial experience has the characteristics of multi-field experience accumulation, innovative spirit, investment layout, teamwork and corporate culture construction. These experiences have good reference significance for entrepreneurs.

one of Ling Zhimin's successful experiences is accumulated in many fields: Ling Zhimin has rich experience in chips, solar cells and other fields, which provided him with important technical support and business insight when he founded Yuneng Technology.

Ling Zhimin's second successful experience, innovative spirit: Ling Zhimin has served as an executive in many well-known companies in Silicon Valley and has accumulated rich management experience and innovative thinking, which has effectively promoted the company's technological leadership and market competitiveness.

In the process of starting a business, he continuously promoted technological innovation and led the company to develop the world's first "three-phase" miniature inverseThe variable greatly improves the company's core competitiveness. This spirit of technological innovation is the key to the sustainable development of enterprises.

the third successful experience of Ling Zhimin, diversified development: Ling Zhimin always pays attention to the market development trend, constantly looks for new business opportunities, and quickly enters new fields, so as to expand the business scope of the company.

In the process of starting a business, Ling Zhimin not only founded YuNeng Technology, but also invested in a number of enterprises, involving new energy, electronics and other fields. This diversified development strategy helps enterprises to occupy a larger market share in the market competition.

the fourth successful experience of Ling Zhimin is teamwork: in the process of starting a business, Ling Zhimin paid attention to teamwork and personnel training. He resigned and returned to China together with Dr. Luo Yuhao, who had been a partner for 11 years, to jointly found Yuneng Technology.

He stimulates the enthusiasm and creativity of employees by establishing a perfect talent training mechanism, so as to improve the overall competitiveness of the enterprise. This concept of focusing on personnel training is an important guarantee for enterprises to achieve long-term development.

the fifth successful experience of Ling Zhimin is financial stability: Ling Zhimin has always maintained a stable financial style in the process of starting a business. He pays attention to the profitability of the enterprise, does not blindly expand, but carries out diversified development and technological innovation on the basis of ensuring the financial stability of the enterprise. This financially sound business philosophy helps companies achieve sustainable development.

Ling Zhimin's successful experience tells us that entrepreneurs should have pioneering spirit and innovation ability, carry out diversified development, promote technological innovation, pay attention to personnel training, and maintain financial stability. Only in this way can enterprises remain invincible in the market competition.

Conclusion: Ling Zhimin is a successful entrepreneur with rich professional and investment experience. After graduating from studying abroad, he worked in many well-known companies and then started his own business.

He has invested and founded a number of enterprises, and eventually led the company to list on the Shanghai Stock Exchange. And ranked 954 in the country with a wealth of 6.8 billion yuan.

Ling Zhimin's successful entrepreneurial experience is highly praised. His experience shows that it is very important to constantly learn and explore new fields and markets, and it also requires enough patience and perseverance.

At the same time, he also showed courage and determination, not afraid of failure in the process of starting a business, and continued to try new things. His success also shows that in the field of technology, innovation and research and development are very important.

Finally, his success also shows that there is a broad market and development prospects in the solar energy industry and the new energy field. Ling Zhimin's successful entrepreneurial experience is worth learning from other entrepreneurs.

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