Abstract Many people's original memories of superhard materials even stay on glass-cut glass knives. In fact, the wide application of super-hard materials has already penetrated into all aspects of production and life. Synthetic diamond has been a superhard material for many years. 50th century...
Many people's original memories of superhard materials even stay on glass-cut glass knives. In fact, the wide application of super-hard materials has already penetrated into all aspects of production and life. Synthetic diamond has been a superhard material for many years. In the 1950s, people made synthetic diamonds through high-temperature and high-pressure bonding, and cutting tools entered the period represented by superhard materials. In the 1970s, people used high-pressure composite technology to form polycrystalline diamond (PCD), which solved the problem of rare and expensive natural diamonds, and extended the application of diamond tools to aviation, aerospace, automotive, and electronics. , stone and other fields. To this end, Sifangda’s financial director Jin Hongfeng also gave an example. “We developed a diamond escape hammer last year. Many high-end cars are very hard, ordinary hammers are difficult to open, and we apply superhard materials to the hammer tip. Specifically for use in car escapes." Founded in 1997, Henan Sifangda Superhard Materials Co., Ltd. is a high-tech enterprise specializing in the production of polycrystalline diamond (PCD) and related products. It is reported that Sifangda is the only PCD manufacturer in China with only a few production lines in the world, including PCD composite sheets for oil/natural gas drill bits, PCD composite sheets for coalfield/mine tools, PCD high-grade drawing blanks and PCD/PCBN tools. Use four types of composite tablets. At present, its products are not only sold well in China, but also exported to more than 40 countries and regions in Europe, America, Africa, Southeast Asia, etc., regardless of R&D capability, production technology or production scale, Sifangda is manufacturing composite superhard materials in China. The field is second to none.
Time and place
With the updating and application of technology, these years of super-hard materials show a very strong growth momentum. Jin Hongfeng does not hide the optimism about the prospects of the super-hard materials industry. "I am very optimistic about this industry, super-hard materials and products. Mainly refers to diamond and cubic boron nitride, as well as composite materials made of these two materials as the main component, because of its highest strength, highest hardness, high wear resistance, it is widely used in machine tools, building decoration tools, high speed. Road construction tools, coal fields, oilfield excavation tools, stone mining tools, precision instruments and other fields. The development of superhard materials industry is closely related to national security, and its consumption has become an important indicator to measure a country's industrial development level, so it is called Strategic storage materials. In addition, super-hard materials and products can not only solve the problem of difficult processing of various new materials that ordinary abrasives are not suitable, but also high-efficiency, high-precision, energy-saving and environment-friendly products, which fully conform to the national industry. Policy. Superhard materials will gradually replace those with high energy consumption and heavy pollution. Corundum and silicon carbide abrasives have become the development direction of the world's emerging materials, so they are also known as the sunrise industry. At present, the super-hard materials industry is listed as a strategic emerging industry in Henan Province and a major new material industry in Zhengzhou. one."
Obviously, the external factors of the development of the enterprise are already available. In February 2011, Sifangda successfully listed on the GEM of the Shenzhen Stock Exchange and became the first local enterprise in Zhengzhou Economic Development Zone to successfully list in China. In 2014, affected by the gradual increase in US oil and gas production in recent years, as the demand for PCD composites for oil and gas drilling consumables increased, the performance of Sifangda in the first three quarters of 2014 increased significantly by nearly 30%.
Talking about the company's good development momentum, Jin Hongfeng believes that Sifangda's strategic transformation by taking the opportunity is the internal cause of achieving excellent performance. “At the end of 2013, our company convened key personnel, including sales, R&D, management and other personnel to conduct a full strategic analysis and analysis, and analyzed in detail the situation and countermeasures of our products, markets, competitors, etc., and determined the company's market. Focus and product focus, set up benchmark enterprises, adjusted sales assessment indicators and incentive policies, so the company's sales revenue will increase significantly in 2014. Not only that, but the company also continuously increases sales and sales personnel, management personnel, Sales staff We invited relevant institutions to train, establish and improve the large customer template, and also carry out hierarchical management for customers; for management personnel, the company purchased the online courses of China Europe Business School for all middle and high-level executives, and managed the management level of each management personnel. The improvement has indeed played a positive role. It can be said that at present, Sifangda has entered a period of healthy development in all aspects."
Must be done
Sifangda is a typical technologically enterprising enterprise. R&D innovation has always been the cornerstone of the company's continued growth. As the leader of the domestic composite superhard materials industry, Sifangda attaches great importance to R&D and innovation investment. The company's annual investment in research and development and awards for technology accounts for an average of more than 6% of sales revenue, and in recent years it has exceeded 8%. The huge R&D investment and the exploration of professional fields over the years have formed the company's strong technical accumulation. According to Jin Hongfeng, Sifangda is very young. The average age of the company is less than 40 years old. It is such a dynamic and innovative company that Jin Hongfeng feels a positive cultural atmosphere. Jin Hongfeng came to Sifangda as the chief financial officer at the beginning of 2013. At this time, Sifangda is in the stage of preparing for strategic adjustment. Jin Hongfeng, who has many years of financial work experience, gradually realized the shortcomings of the company's financial management. Start to improve. “First of all, I started to standardize the workflow of management positions from the finance department. This is the beginning of the company's gradual refinement management. At present, our company is implementing standardization and knowledge management of all job workflows. With the development of the industry, competition is coming. The more intense, the homogenization of products is getting closer and closer, whoever products are more refined, who pays more attention to details, who is more competitive. In our company, there is such a sentence: complicated things are simplified, simple things are streamlined. , the quantification of process things, the quantitative informationization of things."
As the financial director of Sifangda, Jin Hongfeng's work covers all aspects of financial management, but with the different stages of development, Jin Hongfeng's work focus is also changing. “I just came to the company last year, the main focus. It is to understand the company's operations, standardize the cost management and budget formulation. From this year, I mainly focused on the management of funds, including financing and investment."
Although it has developed rapidly, Sifangda’s capital turnover is relatively plentiful. Regarding the management of funds, Jin Hongfeng summed up several key words: precautions, cautious investment, and virtuous circle. “The so-called precautions are planned in advance according to their own actual situation, rather than waiting for things to come and then planning. For example, At present, our company's funds are sufficient, then we need to have full contact with the bank? The answer is yes. When you are good and the funds are full, the bank will come to the door to talk about cooperation and talk about loans. At this time, don't exclude banks, don't I think that I have money and I don't need a loan. I think it is completely acceptable. At this time, we can easily get a low-interest loan. If there is spare fund in the case of guaranteeing the company's daily capital needs, it will not violate the company's overall strategy. Under the premise of planning, we will also do some financial management or investment, such as bank-guaranteed wealth management, securities company's asset management plan, trust company's trust plan, national debt reverse repurchase, etc. In addition, regarding prudent investment, mainly refers to mergers and acquisitions. Or new projects. When we invest, especially mergers or new investments The project is very cautious. The impact of these investments on the company is huge. It is possible that one move will be lost in a careless manner, and even the parent company will be involved. Therefore, when we invest, we must ask a professional team to operate. Will be eager to seek success."
Even if the capital situation is good again, Jin Hongfeng is always strict in the management of cash flow. "The company's cash flow must be in a virtuous circle, mainly due to the collection of accounts receivable. Many companies do not pay attention to the return of the payment in order to report the profit of the report, and do not pay attention to the choice of the customer. This is extremely dangerous. Therefore, we attach great importance to the receipt and receipt of receivables. Now, we carry out hierarchical management of our customers, and list customers with large sales volume, profitable and fast payment as important customers or even strategic customers of the company, and the policy is inclined; The assessment of the salesperson, such as the sales assessment, the payment of wages by payback. Only a virtuous cycle of the company can be recognized by the public, the bank's recognition."
Risk and control
Although Sifangda is in the sunrise industry and has a certain market advantage, in Jin Hongfeng's view, it still can't relax the control of risk, such as the risk of management loopholes caused by the irregular management system within the enterprise. Inaccurate market positioning, risk of sales decline, risk of over-optimistic estimation of macro-industry situation, improper risk of authorization, heavy cash or blind investment, may face the risk of cash flow breakage, and taxation is not planned beforehand. The risk of tax penalties such as tax evasion afterwards. Jin Hongfeng believes that a sound and effective corporate governance structure and effective internal control must be established, as well as an effective risk prevention mechanism. "For example, the audit committee in the corporate governance structure is an empty shelf in many enterprises, but in fact its role is very large, especially in maintaining the effectiveness of internal control and preventing internal fraud; internal Control aspects such as the control of hospitality, we control the sales staff proportionally, for other personnel can apply for ex ante control; risk prevention mechanism, such as major decisions before implementation, we must implement collective decision-making by relevant personnel, and Experts are invited to give professional advice. In fact, in most companies, the system is available, but whether it is effective depends on the determination of the management and the execution of the employees."
Among the many technical means to control risks, Jin Hongfeng pays great attention to the information construction of enterprises. "In the internal information of the enterprise, including past income, cost and expense information; in the external information, including market information, customer information, supplier information, competitor information, policy information, financial information Wait, these data and information are very important to modern enterprises. Information is the root of everything. We can only control the risks of enterprises after we have mastered these accurate data information.
Challenge and transformation
From the accounting firm to the financial work of the company, Jin Hongfeng is no stranger to the transformation. "With the changes in the economic environment, especially after the financial crisis, financial work has become more and more obvious for the decision-making support of enterprises. At the same time, with the development of computer and Internet technologies, the efficiency of financial work has been improved, and the work of financial personnel has been reduced. Intensity also supports more and more financial personnel to transform to management personnel, so I think financial transformation is inevitable.†In the two years of Sifangda, it was also the two years that Jin Hongfeng made a breakthrough in financial work. According to Jin Hongfeng, Sifangda has not done a good job of cost accounting for a period of time. There are some problems in the financial software itself BUG, ​​cost object setting, and product accounting methods, so that the gross profit margins of the two main products are completely opposite. The calculation of gross profit is low-margin, and the calculation of low gross profit is high-margin, which has caused some troubles for the management. Finally, the company executives have a good understanding of the process, so they have certain judgments on the cost and have not easily adjusted. Strategic Direction. In addition, in terms of product pricing, how to determine a reasonable, close to the market unit price must refer to the cost of the financial department; in foreign investment and financial management, it is also necessary to rely on financial personnel to provide professional advice. Through the financial involvement of the business, Jin Hongfeng is deeply impressed by the financial transformation to the business. “It is very necessary for the Finance Society to make more use of technical means and more comprehensively control the business trend. I understand the remoteness of ZTE. Sharing Center, we have also built a lot of information software such as UF ERP software, OA collaborative management, BI management driving warehouse, knowledge management, etc., and are also preparing for financial transformation."
Perhaps, what will never change is change, especially for Jin Hongfeng. “I have been working on finance-related work. It is estimated that this life has a close relationship with financial accounting. To say career planning, I really love the Quartet team. This is an excellent team. If possible, I hope to retire. But I hope that one day I can change my position and challenge."
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