Wang Feng, chairman and president of Shandong Linglong Tire Co., was named an Ernst & Young Entrepreneur Of The Year for 2020 in China. He's one of 10 entrepreneurs in the country to receive the award.
The award was initially given to U.S. leaders in 1986, and has since expanded to more than 145 cities and 60 countries and regions around the world. The first award program in China was held in 2006.
In the face of the COVID-19 outbreak, in 2020 the winners showed their entrepreneurial spirit while delivering "outstanding achievements for China’s steady economic recovery and robust development."
Here's a look at four categories and achievements that earned Feng the honor:
1. Vision and mission
"Chairman Wang Feng’s acute international vision put forward an international development strategy in 2010, leading Linglong Tire to actively expand on a global scale. Currently, the company has seven production bases worldwide. In 2020, he led the team to upgrade the “5+3” global strategy to “6+6”, indicating the construction of six overseas factories and six Chinese factories on the basis of a global R&D and marketing system to further optimize the industrial layout and improve market share."
2. Ingenuity and persistence
"His focus on R&D has also led Linglong Tire to adhere to 'emphasizing on technology, management, creating a reputable brand, and maximizing efficiency' in order to enhance the overall strength of the company, contribute to the technological transformation and upgrading of the tire industry, and promote the high-quality development of China’s tire industry. At present, the company’s patent ownership ranks among the top Chinese tire companies, and it is the only company in the industry that has won the 'China Industry Award.'"
3. Innovation and beyond
"Even amidst the unfavorable market environment in 2020, Chairman Wang Feng’s pursuit of innovation and self-improvement remains evident as he led the team to launch the “new retail” plan ahead of time, and through the development of a smart marketing platform, he engineered a new combination of online and offline retail for Linglong Tire, actualizing a comprehensive transformation into full-service market. Under the new retail force, the company’s various indicators in the first three quarters have grown despite the current downward trend, achieving an operating income of 13.246 billion yuan, jumping to the 11th place in the world’s listed tire companies, pushing Linglong’s development to new heights."
4. Responsibility and Mindset
"Chairman Wang Feng’s innate responsibility and mindset to 'contribute to the world' has inspired him to bravely assume public responsibilities in environmental protection, community service, job creation, employee growth, and charity. During the COVID-19 pandemic, he took the initiative to make outstanding contributions in material donations, epidemic-prevention material supply, resumption of work and production, and stable employment, which fully demonstrated the sense of responsibility and mission of entrepreneurs in the new era."
During his acceptance speech for the award, Weng said he would "lead the Linglong team to always uphold the corporate mission of building dreams with ingenuity and prosperity through the tire industry, and build Linglong into a world- class enterprise with the spirit of integrity, innovation and entrepreneurship."
