Chen Baifeng, the chairman of Ruiying, the eldest in the family, was unable to go to school following graduating from junior high school due to his poor family background when he was a child, so he went to the north to become an apprentice, and thus developed his technical skills. Since choosing to start a business, it has not been all smooth sailing, but he has always been able to turn his life around. In 2008, he encountered the global financial crisis. The company did not lose money. The epidemic hit the world economy hard. Since 2020, both revenue and profit have hit new highs for two consecutive years.
Chen Baifeng, who was born in Chiayi, said that when he was in the third grade of elementary school, his family moved to Taitung in the back mountain. After graduating from junior high school, he went north to work as an apprentice in a machinery factory. At that time, the monthly salary was only 150 yuan, and there was no refreshment fee to work overtime at night, but he didn’t care, he knew how to spend money appropriately, and learned techniques from the masters. For example, at that time, a bowl of Yangchun noodles was 1.5 yuan, and some side dishes such as dried tofu and kelp were cut. It cost 5 or 6 yuan for a midnight snack, but it was the best time for him to communicate with the masters. Everyone is willing to teach him. The technology gave him, the money, it was quite worth it.
The humble Chen Baifeng said that he was lucky and was regarding to become a soldier. He was drawn by the overlord and only served 45 days of supplementary military service. While waiting for the draft, because he didn’t want to be idle, his emotional intelligence friend’s factory made room for him. Putting a machine to produce OEM parts, although this is only a one-person company, the boss and co-worker, has since opened his entrepreneurial road.
After serving in the military, he founded Shenghui Enterprise, started to hire employees, and gradually expanded the scale of operation. The fifth year of the business was a very critical year. The company began to transform the production of roller skate bearings. At first, it was manually produced, and then imported. Automated equipment and computer testing, the operation is booming.
Chen Baifeng said that he has three younger brothers, who are majoring in architectural design, electronics and other majors. After graduation, they have joined his company one following another. The four brothers are callous and work together to develop their careers regardless of family.
Thirty years ago, Chen Baifeng began to produce garage door bearings and other products to prepare for export, and cooperated with the establishment of a wholly-owned He Ying company. In 1997, he planned the company’s stock listing cabinet, set up Rui Ying, and bought Wugu Industrial Zone. Build a factory on the land and transfer the business of Ha Ying to Rui Ying.
Chen Baifeng said frankly that Ruiying, which mainly produces bearings, is only priced at 0.3 to 0.4 US dollars for each bearing. However, following adding steel pipes or PU plastic shells at both ends of the bearing to become rollers to increase the added value, the price of each roller increases. to $3 to $11. Ruiying then carried out product transformation. In recent years, the roller has been listed as the main product for export.
More than five years ago, Ruiying mainly produced bearings, and also spent 5 million yuan to develop bearings for suitcases. Chen Baifeng was full of confidence at that time, thinking that Ruiying’s product quality and price were competitive, but he was unable to enter the supply. chain system.
Not discouraged, although he entered the suitcase bearing market and hit the iron plate, he also saw a new field of logistics equipment and opened another window for the company.
Chen Baifeng said that many years ago, he learned that a customer engineer hit a hole-in-one golf ball and specially gave him a box of golf balls. After that, he also met to play golf and established a personal friendship with golfers. The engineer later jumped to Amazon, the leading e-commerce company in the United States, and introduced Ruiying to Amazon’s supervisor on his behalf, and began to enter the supply chain system of Amazon’s five logistics and storage equipment factories.
This is what happened in 2019. He entered the Amazon logistics equipment supply system in one fell swoop. Instead of being satisfied, Chen Baifeng was even more trembling. He helped Ruiying set the goal of double-digit growth in annual performance and doubling of turnover within five years.
In the past two years, the freight rate has soared, the shortage of shipping containers, the uncontrollable shipping schedule and the problem of port congestion have plagued the export-oriented enterprises. In the second half of last year, Ruiying also faced the impact of customers who decided to cut orders for their own production in order to save costs. In order to continue to win orders, Ruiying made a decisive decision and decided to reduce the price by 5%. This strategy worked so that orders returned, and the overall order visibility was seen in the third and fourth quarters. At present, as long as the shortage of cabinets can be solved, this year’s revenue has the opportunity to challenge 2.6 billion yuan, rewriting a record high for the third consecutive year.
Chen Baifengmu’s greatest wish is to make Ruiying like many of his American customers. Some of these companies can be traced back to when they started in the United Kingdom. He hopes to make Ruiying another century-old enterprise through continuous efforts and improvement.
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