Zoomlion's success is built on the foundation of integrity, harmony, and professionalism. Two key points need to be highlighted first. First, Zoomlion has demonstrated strong leadership in the industry, with its corporate profits consistently ranking at the top for several years. Second, behind every successful company stands a remarkable entrepreneur, and Zhan Chunxin embodies all the qualities of an outstanding leader. In the early 1990s, Zoomlion was still in its infancy. The concrete pump it produced had just entered the market, and although the product was not easy to sell, it gradually gained traction among customers. However, challenges soon arose. During the summer, high temperatures caused the hydraulic oil to heat up rapidly, leading to poor performance of the pumps. Negative feedback started to come in, and the company faced intense pressure to resolve the issue. Compared to the well-known story of Haier’s Zhang Ruimin publicly criticizing his company’s refrigerators, Zhan Chunxin’s decision to halt production voluntarily to address the problem remained largely unknown. Over time, Zhan rarely spoke about this incident, and even many employees were unaware of it. Yet, this moment marked the beginning of his entrepreneurial journey. As he once said, “The key to building a century-old company lies in the sense of responsibility of those who run it. Without that, making money is just a one-time deal. How can it last?” Zhan Chunxin’s proactive decision to stop production reflected not only his integrity but also his deep sense of responsibility. Moreover, during the process of mergers and acquisitions, his ability to maintain harmony, coordinate effectively, and respect multiple stakeholders further showcased his qualities as a great entrepreneur. At a public event, Zhan delivered a passionate speech on the merger with Puye. He explained: “We have never had such favorable conditions as we do today. Puye is an old enterprise that, under the planned economy, bore responsibilities that should have been handled by the government. It’s like a giant bandit holding back a young plant. Our restructuring aims to remove that burden, giving the company unprecedented growth potential. When companies reform, non-performing assets must be disposed of, retirees properly resettled, and companies must be lightened.” “We’ve never had so many shared resources. Through restructuring and M&A, we’ve created a big family where market, technical, and financial resources can be shared. This is something neither Puye nor Zoomlion had before. For example, market networks from Puye, Zhonglian, and Winning are now combined, creating a powerful resource. Technically, Puye has a strong team, while Zoomlion’s predecessor was the country’s only comprehensive research institute. Together, they form a unique advantage. Financially, Zoomlion is a well-funded listed company with sufficient reserves to support any project.” “We’ve never seen such a long-lasting and prosperous market. With the country continuing to invest in infrastructure and maintain GDP growth, we are facing unprecedented opportunities.” Regarding post-restructuring management, Zhan emphasized clarity. He stated that the company operates based on capital bonds, with the shareholders' meeting as the highest decision-making body, the board of directors as the permanent authority, and the general manager as the executive. Zoomlion is an independent entity, and after the merger, there should be no overlapping structures or administrative hierarchies. Only through a clear, scientific system can companies truly thrive. Zhan’s ability to manage the macroeconomic environment of the company was evident. Despite being offered a government position, he declined, stating that his strength lay in engineering and business, not politics. His focus remained on driving innovation and growth within the company. Today, as an outstanding entrepreneur, Zhan Chunxin has embodied the essential qualities of honesty, harmony, and professionalism. With the completion of corporate restructuring, he has transformed from a manager into a true entrepreneur. This transformation marks a significant milestone in both Zoomlion’s development and his own career. Experts praised the harmonious institutional reform of Zoomlion. After the restructuring in 2006, it became a model of state-owned enterprise reform in Hunan. Although the provincial government still holds a majority stake, the modern enterprise system is taking shape. Employees now operate within a structured framework, seeking greater development while maintaining their ownership rights. According to researchers in Beijing, Zoomlion’s restructuring was a cautious and efficient compromise, reflecting the central government’s concept of "harmony." Zhan himself emphasized that this was not a compromise, but a genuine effort to ensure the company’s long-term success. He believes that when the company grows, investors benefit, and employees gain value. This win-win situation reflects the maximization of resource utilization. As Zhan noted, achieving this institutional change took 10 years of hard work. Each step in the process represented a breakthrough, carefully balancing the interests of all parties involved. These efforts, though risky, ultimately led to a more sustainable and successful future for Zoomlion.

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