On January 10, 2006, another new Chinese rich man was born. His name is Shi Zhengrong.

On this day, Wuxi Suntech (NY:STP), the chairman of the board of directors, broke through the US$30 on the New York Stock Exchange (NYSE), with a personal holding of 68 million shares and a paper wealth of about 16.1 billion yuan. Wuxi Suntech IPO (initial public offering) less than a month, the stock price has risen 38%.

A few months ago, Shi Zhengrong was still unknown. On the evening of September 18, 2005, he took part in a staff chorus competition. After he sang "The Field in Hope", he made up his mind to go public on the NYSE. Three months later, he became the richest man in China.

On the same day, the solar energy company IPO of Wuxi Suntech, the New York Stock Exchange was also very popular, and the general manager Joseph Fung made an exception to approve the party can be held in the trading floor. The staff of the New York Stock Exchange also had to admit: "I haven't seen such a lively scene for a long time."

The New York Stock Exchange is the heart of the global capital market. The daily stock trade is as high as 2.5 billion shares. It can be said that it constantly interprets the myth of the rich. This time, the opportunity was Shi Zhengrong, who became the first mainland private entrepreneur to enter the New York Stock Exchange.

Decoding one: financing change

It was registered in January 2001 and started operations in 2002. It earned $900,000 at the end of 2003, a profit of $18 million in 2004, an estimated profit of $50 million in 2005, and an estimated profit of $100 million in 2006...

This three-year triple jump success story is a bit dazzling. It doesn't look like a technical hero, it's more like a digital hero holding a wand. This may be the cuteness of the virtual economy era.

In fact, before the listing, Wuxi Suntech has successfully completed the private placement. In the first half of 2005, Wuxi Suntech's overseas companies have raised 80 million US dollars from internationally renowned investment funds such as Goldman Sachs, British Union, Longke, France Natexis, and Spain Pukai. The huge funds have entered Wuxi Suntech. Equity acquisition of all domestic shareholders. As a result, Wuxi Suntech has become a foreign-invested company with 100% holdings in overseas companies.

Wuxi Suntech collects other shareholders' equity, which is a contest between the business philosophy of “Turkish School” and “Sea Turtle Party”. When Wuxi Suntech's operation was on the right track, as a corporate investor, Wuxi's “Turkish School” began to slap the “Turtles” represented by Shi Zhengrong and tried to participate in corporate management, which brought great management to Shi Zhengrong. trouble.

For Wuxi Suntech, Shi Zhengrong has a huge goal, which is to achieve 1000 MW of capacity in 2010 and become the world's largest PV company. But seeing this chaotic situation in front of you, it is obviously impossible to achieve this goal.

How to change this situation? The only solution is to introduce more capital. Of course, it is more important to bring Suntech into a larger international background. It can be said that this move can be described as “one arrow and two sculptures” or “one arrow and many sculptures”.

At first, Shi Zhengrong's courage was not big enough. He only wanted to get the company listed in Singapore, and then hesitated in Hong Kong, Nasdaq and other listed destinations. Later, the visit of Wall Street financiers changed his mind. After several communications, he finally decided to divert to the New York Stock Exchange.
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