At the beginning of 2000, Tao Shoulong and his wife Yan Qihuai spent 8,000 yuan to work hard in Shaoxing, Zhejiang. He took refuge in the powerful local Southern Group and became a foreign trade salesman. It only took him three years to become the vice president in charge of foreign trade marketing of Southern Group.
Soon, Tao Shoulong started his own business and established Baifu Import and Export Trading Company. In 2003, he founded Zhejiang Longjiang Textile Printing and Dyeing Co., Ltd., the predecessor of Longjiang Group. Soon, due to its extraordinary export volume, Longjiang Company quickly became popular and became one of the local textile exporters.
But Tao Shoulong doesn't just bury himself in trade. He knows how to deleverage-use the capital market to realize his accelerated expansion, which is what distinguishes him from many local entrepreneurs in Shaoxing. In 2006, Tao Shoulong finally reached the peak of his life.
This year, with the assistance of Temasek in Singapore and Softbank in Japan, Tao Shoulong's company Dragon Printing and Dyeing was officially listed in Singapore on September 7th. Tao Shoulong became famous in World War I. After winning the first battle, Tao Shoulong began to get carried away. According to a senior executive of Longjiang Group, shortly after the printing and dyeing of Longjiang went public, someone inadvertently mentioned Tao Shoulong's old club and the Southern Group, which has always been grateful to him. Drunk Tao immediately struck the table: "What do you mean by South? I can buy it tomorrow. "
To most people's surprise, this is not Tao's drunken joke. A few months later, Tao decided to buy Southern Technology Co., Ltd., a subsidiary of Southern Group, by way of debt. At that time, the total liabilities of Southern Science and Technology amounted to 470 million yuan, and its assets were mainly 250 mu of factory buildings, machinery and equipment and a six-story office building in Kebei Industrial Park, Shaoxing County. After the acquisition, the production scale of Tao Shoulong tripled, but it also left him a huge debt of about 470 million yuan.
But Tao Shoulong didn't stop his steps. After he merged Fiona Fang Manufacturing and Baifu Clothing into Longjiang Group, he started a new round of expansion. Tao Shoulong also shifted his main energy from dragon printing and dyeing to southern science and technology.
In May 2007, a large-scale cyanobacteria pollution broke out in Taihu Lake basin, and some textile printing and dyeing enterprises with wide production capacity along Taihu Lake stopped production. Tao Shoulong saw the opportunity from here, and he immediately decided to launch a lucrative 3.6-meter wide production line. At this time, the production lines of most textile enterprises in Shaoxing are1.5-1.8m narrow production lines.
A few months later, Tao Shoulong spent 200 million yuan to introduce 1 1 ultra-wide production line from abroad at one time. At that time, there were only 3 1 ultra-wide production lines in China. Despite the huge investment, the operational risk of Longjiang Group at this time is still controllable. According to the data provided by Gao, the manager of the foreign trade department of the Group, the trade volume of the Group in 2007 was nearly 80 million US dollars, ahead of domestic textile enterprises.
The real turning point came after Tao Shoulong decided to push Southern Technology to Nasdaq.