Author: Yang Qiaoyu Chen Xiaoping Editor: Chen Xiaoping Ye Yingcheng Source: Jule Co., Ltd.
A leading dairy company in Chengdu has passed away.
On the evening of September 8, Jule Co., Ltd. announced that it had received a notice from the family of Chairman Tong Enwen that Tong had died on the afternoon of the 6th at the age of 78.
">"The death of Mr. Tong Enwen has caused us to lose a great entrepreneur, a wise mentor and a kind elder." The announcement reads.
Jule is a well-known dairy company in Sichuan with annual revenue of more than 1.6 billion yuan, and there is even a Jule Road in Chengdu. As soon as the news was announced, Jule's official website was also turned black and white.
Transfer of power is a key issue at the moment. According to the announcement, Tong Enwen himself controls 73.35% of Jule's voting rights and is the actual controller. Judging from the existing signals, his son-in-law is expected to take over.
""The company's business management team performs its duties normally, and all business activities will not be affected." Jule emphasized that the shares held by Tong Enwen will go through relevant procedures in accordance with laws and regulations.
Smooth handover
Tong Enwen personally made arrangements for his death.
On July 30, Jule Co., Ltd. announced that Chairman Tong Enwen was unable to perform his duties as chairman due to physical reasons. The board of directors agreed to elect director Gao Zhaohui to act as chairman, legal representative and other duties.
Tong Enwen and Gao Zhaohui are relationships with father-in-law and son-in-law, and Gao is currently the general manager, in charge of daily operations. This arrangement is expected to ensure a smooth subsequent handover.
Jule disclosed that the daily operations are under the responsibility of the management, and the current operations are normal; Tong Enwen's death will not affect the normal operation of the board of directors.
Tong Enwen
">"Complete the by-election of directors, the election of chairman and other work as soon as possible." The official said so.
Jule Co., Ltd., founded by Tong Enwen during his lifetime, has a history of about 60 years. The predecessor can be traced back to the Chengdu Chemical Pharmaceutical Factory established in 1966.
In 1996, Tong Enwen keenly grasped the opportunities of the times and took the lead in the launch of sterile filling pure milk in the southwest market, leading the company to successfully transform into the dairy industry, especially the "Sora Milk" milk-containing beverage, which quickly occupied the leading position in the market.
In 2024, Jule's share in the Chinese milk-containing beverage market was 0.82%, ranking eighth; its share in the Chinese blended yogurt beverage market was 0.97%, ranking fourth.
It is a regional leader and its sales are concentrated in Sichuan.
From 2020 to 2024, Jule has maintained considerable growth, slowly increasing from revenue of approximately RMB 1 billion to RMB 1.641 billion, and its net profit has reached RMB 232 million.
Tong Enwen is also the actual controller of Jule.
He himself holds 35.58% of Jule Group's shares, indirectly controls 45.87% of Jule Shares' shares, and individuals directly holds 26.51% of the shares, controlling a total of 73.35% of the voting rights.
Taking the factory as the home
Tong Enwen has worked in a factory throughout his life.
He was born in February 1947 with a high school education. He has worked in Chengdu Chemical Pharmaceutical Factory since 1966. He served as the factory director from 1978 to 1985. He founded the "Jule" brand in 1984, and eventually crossed the dairy industry.
It is reported that Tong himself comes from a prominent family. For example, his father Tong Kai is the first generation of American students studying radio engineering in China. He graduated from Harvard University and his parents' witness when they got married was Hu Shi.
Tong Enwen inherited the scientific insight and innovative spirit of his father.
According to the announcement, in 1982, the "stevia glycoside extraction process" he led the invention was awarded by the Ministry of Light Industry and was awarded the special allowance of the State Council, and the "Jule" brand was also born.
Tong Enwen has been working in a factory for almost 60 years, and she is also loved by employees.
According to the reporter of "Daily Economic News", a reporter saw at the scene, on the afternoon of the 8th, several retired employees gathered to mourn and say goodbye to Tong Enwen.
">"Everyone thinks this boss is very good. Jule Company has been glorious for so many years because he has done his best." Some retired personnel have a high opinion of children.
Some people describe it in three consecutive terms, saying that it is very considerate of employees.
The reporter of "21CBR" checked the prospectus and found that as of the end of 2024, the total number of Jule employees was 1,753, 236 people over 50 years old, accounting for 13.46%, and 12 people even re-employed after retirement; about 95% of employees have social security and provident fund, and the remaining ones are mostly new jobs that have not been processed.
The reporter checked Jule official Weibo, and said that Tong Enwen's information was less. His personal direct appearance dates back to February 2020.
At that time, the new crown epidemic had just begun, and children organized material delivery on the front line.
">"We will send it directly to various points, so that front-line medical staff, tourists from other places to Chengdu and patients with suspected diseases can feel the support and care of the people of Chengdu." He said at the time.
At that time, Jule donated milk supplies to two designated hospitals for treatment in Chengdu and three designated isolation hospitals for people from other places to Chengdu, and delivered the products as soon as possible.
Successor
After Tong Enwen passed away, his son-in-law Gao Chaohui is expected to take over Jule.
Gao was born in July 1972 with a master's degree. Since 1993, he has been engaged in software engineering related work for a long time, and has worked in well-known companies such as EFFM Software and IBM. He once worked as a consultant and project manager at Boston Consulting.
Gao Chaohui
In May 2011, Gao joined Jule, who was managed by his father-in-law, and thus served as a director and general manager. He has been responsible for daily operations for many years.
The latest official announcement specifically mentioned that in 2011, Tong Enwen "actively promoted the inheritance of leadership and carefully cultivated a new generation of managers", showing that Gao Zhaohui was his preferred successor.
Jule's prospectus disclosed that Gao Zhaohui's salary in 2024 was 5.3419 million yuan, which is higher than Tong himself and other executives, showing his important position.
At present, the overall dairy industry is under pressure, and sales across the industry are declining. Local leaders like Jule are facing strong attacks from industry leaders and new dairy industries in the same city.
In this environment, Jule still maintained growth. From January to June, its revenue was 823 million yuan, a year-on-year increase of 6.04%. The largest source of revenue source of milk-containing beverages increased to 485 million yuan, which reflects Gao Zhaohui's leadership ability.
At present, whether Jule's listing process has been affected has become the focus of market attention.
Jule is now a listed company on the New Third Board.
From the first IPO in 2017 to June 2024, Tong Enwen's team successively had "four battles" on the IPO on the Shenzhen Stock Exchange, but none of them could do it.
After that, Jule changed to the Beijing Stock Exchange, started listing guidance in September 2024 to passed the acceptance, and successfully obtained the admission ticket from the Beijing Stock Exchange. He just officially submitted his IPO application at the end of June.
Unexpectedly, Tong Enwen passed away when he was about to go public.
How to promote listing and deal with the dairy industry downturns tests the management wisdom of successors.
