The entrepreneurial experience of Chen Bang, chairman of Aier Ophthalmology, is quite legendary. In 1997, Chen Bang started his second business with a capital of 30,000 yuan. Today, his listing on the GEM has brought his worth to a higher level.
Chen Bang personally holds 23.8 million shares of Aier Ophthalmology, but Hunan Aier Investment, in which he controls 41.65%, also holds 60 million shares of Aier Ophthalmology. Chen Bang’s actual shareholding totals 65.446 million shares, accounting for 65% of the total share capital. Based on the issue price of 28 yuan/share, the market value of the stock market has reached 1.832 billion yuan.
Among the wealth-making stories on the GEM, the most legendary story is that of Chen Bang, chairman of Aier Ophthalmology: a "layman" who did not understand ophthalmic technology landed on the GEM by opening an eye hospital. Rich list.
The introduction of Chen Bang’s resume in Aier Ophthalmology’s prospectus is extremely simple. Chen Bang, 44, is the founder of AIER Ophthalmology. He holds a master's degree and is a part-time MBA tutor at Hunan University. But behind this simple resume, Chen Bang has an extremely rich and legendary personal experience. Chen Bang was born in the military. After retiring from the army, he worked as an equipment agent, cultural disseminator, and real estate, and was involved in a wide range of industries.
In the late 1990s, China's reform and opening up further deepened, and policies were once relaxed, allowing private capital to enter the medical field, which had previously had high barriers to entry. This made Chen Bang, who was working hard in the medical device industry, shine. He read about the unlimited business opportunities in the new medical policy, so he decided to enter the field of ophthalmology, which was still unpopular at the time.
“When I entered the medical industry, I mainly wanted to try a new field.” Chen Bang downplayed his decision back then, but now it seems that what he was pushing was a door that was estimated to be as high as 30 billion yuan. The door to a huge market of scale.
In 1997, Chen Bang spent 30,000 yuan of his savings to cooperate with traditional public hospitals in the form of a "hospital within a hospital" and set up an ophthalmology department in the public hospital to perform myopia examination and routine myopia surgery. Taking advantage of the superior resources of public hospitals, I made the first pot of gold in my life.
However, the good times did not last long. In 2000, the country began to vigorously rectify the "hospital within a hospital" public hospital. Chen Bang had to move out of the public hospital and find another way out. In 2001, he opened the first specialized hospital in Shenyang, Liaoning. Without resources to rely on, Aier Ophthalmology's business plummeted. During this period, due to poor business, Chen Bang's important partner, who was also the technical backbone of Aier Ophthalmology, chose to leave.
However, there must be a road before the car reaches the mountain. After 2002, Chen Bang, who refused to admit defeat, chose to establish a chain hospital in the form of a joint venture with others or units under adversity. In early 2003, Aier Eye Hospital opened four hospitals almost simultaneously in Changsha, Chengdu, Wuhan and other places, and at the same time vigorously recruited employees. At this time, ophthalmic medical treatment has become a popular specialty. Aier Eye Hospital's business is going smoothly, and its reputation is almost as high as that of Beijing Tongji Hospital. and Sun Yat-sen University Eye Hospital and other industry leaders.
Since then, Aier Ophthalmology has begun to extend its reach to first-tier cities such as Shanghai and Shenzhen and third-tier cities such as Hunan prefecture-level cities. In just a few years, 19 chain eye hospitals have been opened in 11 provinces and cities across the country.
After Aier Ophthalmology was listed on the GEM, Chen Bang’s net worth skyrocketed, from the initial 30,000 yuan to the current book wealth of 4.86 billion yuan. Chen Bang’s wealth creation story has added a lot of inspiration to the GEM. .
As early as 2004, Chen Bang had been in contact with American venture capital, trying to enter Nasdaq, and the negotiations lasted two years. But at the last moment, Chen Bang believed that overseas capital could not fully understand the situation of private hospitals in the domestic industry, so he resolutely gave up the Nasdaq dream.
The timing of the launch of the GEM just gave Aier Ophthalmology, which was fully prepared for listing, an opportunity to flex its muscles. Chen Bang’s dream of going public was realized in the A-share market. At the "9th China Venture Capital and Private Equity Investment Annual Forum" hosted by Zero2IPO Group not long ago, Chen Bang, as the only GEM founder, entered the "Top 10 Chinese Entrepreneurs Supported by VC/PE in 2009" "Strong" list, Chen Bang's 2009 can be said to be a rise to fame.
But behind the glory, Aier Ophthalmology has also been questioned by many voices. As the only listed company on the GEM and the first "medical institution" listed company in China, Aier Eye Hospital raised 938 million yuan in its first issuance of funds, which was 2.76 times the original plan of 340 million yuan. It also became the highest proportion of funds raised on the GEM. most companies. Some experts believe that over-raised funds can only sit in bank accounts and earn interest for a period of time, which is obviously not in line with the original intention of the GEM to solve the financing difficulties of small and medium-sized enterprises.
“As a hospital chain, we never worry about how to spend the money.” Chen Bang responded to the market’s doubts about its over-raising with a series of plans. Chen Bang explained that the over-raising is 600 million funds will also be used to build Aier Eye Hospital, and it will definitely not pursue diversified development. For the future, Chen Bang’s goal is to erect the Aier Ophthalmology brand in most provincial capital cities across the country within three years.
Neighbors brought him into the business
Chen Bang served as a soldier. After he retired, he worked as an equipment agent, engaged in cultural communication, and also dabbled in real estate. In the 1990s, he pocketed 30,000 yuan He went to Shanghai to work hard, rented in an alley, and met a neighbor who made a living by leasing ophthalmic treatment equipment to hospitals. After some chatting, Chen Bang, who had no industry experience, decided to enter the gold mining industry, and it didn't take long for him to "find the feeling." ".
In 1997, Chen Bang adopted the "hospital-within-a-hospital" model to tie up with public hospitals and set up ophthalmology specialties in public hospitals to perform myopia examinations and routine eye surgeries. In those years, relying on the superior resources of public hospitals, Chen Bang made his first pot of gold. In 2001, Chen Bang set up his own business and opened the first eye hospital in Shenyang, but his business plummeted. Chen Bang decided to make a last-ditch effort and set up four hospitals in Changsha, Wuhan and Chengdu in 2003. The road to becoming a chain brand brought Aier Ophthalmology back to life and was out of control.
The listing was originally aimed at Nasdaq
Among the first 28 companies listed on the GEM, Aier Ophthalmology, founded in 2003, is one of the few "age-appropriate" companies . In 6 years, from a "clinic-style" eye hospital with an area of ??only 1,500 square meters to a medical group with 19 chain branches today, in Chen Bang's view, these can only be regarded as "relatively smooth", because at that time Aier Eye Hospital Had the chance to run dazzlingly.
“In 2004, when Aier Ophthalmology was less than one year old, we were preparing to list the company on Nasdaq.” Chen Bang paused, “People may not believe it, but at that time we We had serious talks with American venture capital for two years, and they were very interested, but we gave up at the last moment." The reason for giving up was that Chen Bang believed that overseas capital could not fully understand the role of private hospitals in China at that time. industry situation. "Our status as a private company makes us the first to try something new. There is no ready-made product that we can copy, so we should do it ourselves."
However, the failure of capital internationalization made AIER Ophthalmology more attractive. It has won the favor of the International Finance Corporation (IFC), a subsidiary of the World Bank that aims to promote the development of private enterprises in developing countries. In 2006, Chen Bang received a check for US$8 million. Aier Ophthalmology was the only domestic company to obtain a long-term low-interest loan from IFC at that time. "Although the money is not much, and it is just a loan and not an equity investment, this step is the key to our listing." Since then, IFC has required Aier Eye Hospital to comply with international standards from the audit and accounting of the group's financials to the direct drinking water and fire hydrants in the hospital reception hall. "So our listing this time seems easy and simple."
< p>The stock price does not allow long-term investors to lose moneyThe ease of listing is also reflected in the stock price on the day of listing. The issue price of Aier Ophthalmology was set at 28 yuan. The opening price on the first day was 48.86 yuan. It reached as high as 72 yuan during the session and closed at 51.90 yuan that day. After that, it rose and fell, with little fluctuation.
“I am quite satisfied with the performance of the stock price since its listing. I think more than 50 yuan is reasonable for Aier Ophthalmology.” However, some brokerages pointed out in research reports that Aier Ophthalmology’s reasonable price The range is between 30 yuan and 40 yuan. Chen Bang was a little excited about this, "The securities dealers who have actually contacted us or learned about our hospital on the spot will definitely not give such a low price. To be honest, many researchers who write these reports They don’t understand our industry at all.” When talking about the future trend of the company’s stock price, Chen Bang made a detour, “Since many funds have not started to invest, it is basically private equity and retail investors who are speculating now, so the entire GEM market is in trouble. It will take a year to see the stock price trend. Of course, for long-term investors, I can say here that Aier Ophthalmology will not make them lose money.”
Chen Bang believes that the gradual relaxation of policies. The opening may be the biggest and most long-term benefit for Aier Ophthalmology in the future. When talking about the geometric growth of his personal wealth, Chen Bang did not want to talk more, "I don't care about the stock price every day. I became the richest man on the GEM because others told me to do it. I don't know how to calculate it myself." , and that is all the wealth on the account. After a nap, there may be hundreds of millions more, or there may be hundreds of millions less.”
Super fundraising chain will reach Beijing within three years
Compared with the company's stock price and his own worth, Chen Bang has a more important thing to worry about right now: how to spend the 600 million yuan raised. "As a hospital chain, we never worry about how to spend the money," Chen Bang explained. "The 600 million will also be used to build Aier Eye Hospital, and we will never pursue diversified development." Chen Bang's goal Yes, within three years, AIER Ophthalmology signs have been erected in most provincial capital cities across the country, "If it comes to Beijing, we will definitely arrive within three years."
The ambitious Chen Bang wanted to " "Three years of nationwide chain" goal, now spend most of the time on the plane, "flying to three or four cities in a day is normal." What Chen Bang couldn't bear the most about this change was that smoking was not allowed on the plane. In just over an hour of being interviewed by reporters, Chen Bang received an independent director of the company, a securities dealer and a business partner, and spent the rest of the time talking one after another. Before October , Chen Bang doesn't know how to smoke. "After all, now that the company is listed, the pressure is a bit high."