Ernst & Young has named Wang Feng, Chairman and President of Linglong Tire., one of its entrepreneurs of the year in China.
Ernst & Young Recognises Wang Feng’s Achievements
He was one of the 10 entrepreneurs to receive the award at the 15th Ernst & Young Entrepreneur Of The Year 2020 Award China Selection Ceremony that was held in Shenzhen on 18th December 2020.
The award is one of the most prestigious international business accolades for entrepreneurs in the world. It was first held in the United States in 1986 and has since expanded to more than 145 cities in 60 countries and regions. The first award programme in China was held in 2006.
With the theme as ‘Know Your Challenge, Go Far and Beyond’, this year’s award programme focused on business leaders who bravely innovated and forged ahead by actively playing a key role in society and fulfilling social responsibilities, amidst a challenging Covid-19 situation.
Under Feng’s leadership, Linglong Tire has become a leading company in the Chinese tyre industry, and has subsequently gone global. His achievements in the below four categories won him the honour:
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 7 production bases worldwide. In 2020, he led the team to upgrade the ‘5+3’ global strategy to ‘6+6’, indicating the construction of 6 overseas factories and 6 Chinese factories on the basis of a global Research & Development, as well as marketing system to further optimise the industrial layout and improve market share.
2 Ingenuity and persistence
His focus on R&D has also led Linglong Tire to adhere to ‘emphasising on technology, management, creating a reputable brand, and maximising efficiency’ in order to enhance the overall strength of the company, to contribute to the technological transformation and upgrading of the tyre industry, and to promote the high-quality development of China’s tyre industry. At present, the company’s patent ownership ranks among the top Chinese tyre companies, and it is the only company in the industry that has won the China Industry Award.
3 Innovation and beyond
Even amidst the unfavourable market environment in 2020, Feng’s pursuit of innovation and self-improvement remained evident as he led the team to launch the ‘new retail’ plan ahead of time. Through the development of a smart marketing platform, he engineered a new combination of online and offline retail for Linglong Tire, actualising a comprehensive transformation into full-service market. With 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 11th place in the world’s listed tyre companies, pushing Linglong‘s development to new heights.
4 Responsibility and Mindset
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 supplies, 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 award acceptance, Feng said he would lead the Linglong team to always uphold the corporate mission of building dreams with ingenuity and prosperity through the tyre industry, and build Linglong into a world-class enterprise with the spirit of integrity, innovation and entrepreneurship.