Early Life
Nan Cunhui was born in Yueqing, Zhejiang Province, China, in July 1963. His early life was marked by financial challenges. At the age of 13, he began working as a shoemaker to support his family. This early exposure to business and the struggles of his family shaped his entrepreneurial spirit and provided the foundation for his future success.
Rise to Success
In 1984, at the age of 21, Nan Cunhui founded Qiujing Switch Factory, the predecessor of CHINT Group, with an initial investment of 50,000 yuan. This marked the beginning of his journey in the electrical equipment industry. He recognized the opportunities presented by China's economic reforms and focused on producing high-quality products. In 1991, the factory was restructured into a joint-stock company. By 1994, Nan established the first enterprise group in the industry. He introduced foreign investment and advanced technology to grow his business.
Key Business Strategies
Nan Cunhui's success is attributed to several key business strategies. He emphasized diligent industrial pursuit and brand innovation, which helped CHINT to expand globally. His focus on quality and long-term vision set his company apart. Nan also embraced the concept of value sharing, reducing his personal equity and allowing investment in technology and management to grow the company. CHINT has strategically positioned itself in three key sectors: Green Energy, Intelligent Electrical Solutions, and Smart Low-carbon Solutions.
Philanthropy
Nan Cunhui is also known for his commitment to social responsibility. He established the Commonweal Foundation, which has contributed more than $62.36 million in donations and relief to various social welfare undertakings, including poverty alleviation and education.
