Rise and Fall of Zhu Yuuzhu

Author: Zhu Yingshi
Publisher:
Publish Date: 2006-07-01
Features: Here is an inspiring entrepreneurial story from China, from a penniless startup youth to the eighth-richest person in the country, then to a "national poorest person" with debts of over two billion yuan, and finally to a billionaire capitalist. This book shows you the opportunities that led to his rise, the of his failures, and explores how he turned a health product into a profit machine in just one year, and how he controlled the dozens of companies he held, building a "Shi Yuzhu System" consisting of two parallel systems of listed and non-listed companies. Shi Yuzhu's real-life story, with its rich plot and dramatic fate, exceeds the imagination of financial novels. In the wave of China's economic reform, Shi Yuzhu is undoubtedly one of the legendary entrepreneurs. In 1989, Shi Yuzhu graduated with a master's degree and borrowed 4,000 yuan to start a business. The M-6401 typesetting software he developed earned 1 million yuan in just four months. He then launched the M-6402 software, which topped the sales of similar products nationwide. In 1991, he founded the Giant Group and launched the M-6403, achieving a profit of 35 million yuan. In 1993, he launched the M-6405, Chinese laptop computers, and Chinese handwriting computers, among other products. Only the Chinese handwriting computers and software had sales of 360 million yuan that year. The Giant Group became China's second-largest private high-tech enterprise. In 1994, Shi Yuzhu was elected one of the "Top Ten Reform Leaders in China." In 1995, he launched 12 health products, including Brain Gold, and invested 100 million yuan in advertising. Shi Yuzhu was listed as the eighth-richest person in mainland China by Forbes. In 1997, due to a series of misguided expansion decisions and the construction of the Giant Tower, which led to a broken capital chain, the Giant Group collapsed, leaving debts of 250 million yuan. Shi Yuzhu fell into the category of the "national poorest person," embodying a classic case of a company's rapid rise and fall. In 1998, Shi Yuzhu began his second entrepreneurial journey. He led a group of former Giant employees to start producing Brain Gold, turning it into a famous brand in China within just two years. In 2000, Brain Gold became the top-selling health product in China, achieving an annual sales record of 1 billion yuan. In 2001, Shi Yuzhu paid off his 250 million yuan debt and incorporated "taking personal responsibility" into the new Giant Group's business philosophy, demonstrating through his actions the rule that "only by pursuing integrity can one rise again." In the ups and downs of the fate of private entrepreneurs, Shi Yuzhu's story of his second rise highlights the charm and value of "persistence and perseverance." In 2001, Shi Yuzhu was elected "CCTV China's Economic Annual Person."