Jiang Bin, The audio giant

16 June 2020

Jiang Bin was born in 1965 in the city of Weifang, China.

During his studies, he often skipped lectures and took refuge in the library, in order to read everything he could find there. In spite of his lack of attendance, he graduated from Beihang University of  Aeronautics and Astronautics and holds an MBA from Tsinghua University. 

He began his career in an electronics company, the fruit of a joint venture between the Weifang government and a Japanese electronics company.

Jiang Bin, motivated and determined, is not satisfied with this position which, for him, comes down to «carrying the suitcase of his boss». After 9 years of experience, he ends up resigning and decided to open his own microphone manufacturing plant. His business turns out to be profitable but the young entrepreneur does not succeed in convincing his business partners to develop more aggressively: his manufacturing plant closes its doors. In June 2001, still convinced of its potential, the businessman decided to give another chance to the adventure, but this time with a partner from Hong Kong. The start-up, Goertek, then had only a dozen employees including his wife, Hu Shuangmei, who would later develop the marketing department.

We determine our course of action by watching and reproducing the behavior of those around us: people whose stories and actions inspire us.

Jack Ma’s model is Forrest Gump. Jiang Bin also has his own model: his inspiration is none other than Matsushita Konosuke, founder of Panasonic, known for being the «god of management» in Japan, for his leadership qualities and his economic thinking. Jiang Bin is inspired by his business philosophies and opens the doors to success. As of 2006, Goertek established strategic R&D partnerships with the Chinese Academy of Sciences, Tsinghua University, Beihang University, Harbin Institute of Technology, Nanjing University and the Ocean University of China. In 2008 Goertek Co. Ltd was listed on the Shenzhen Stock Exchange. The management remains family-run: Jiang Bin remains chairman, his brother Jiang Long and his wife become vice-chairman. The activity is growing quickly with the development of smartphones. From 2009 to 2014, Goertek experienced a quick growth and its market capitalization increased sharply. In 2014, the company bought a majority share of the Danish speaker manufacturer Dynaudio. With this acquisition, Goertek enters in the professional audio market with the Dynaudio and Dynaudio Professional brands. The Chinese manufacturing is also a heavyweight in the virtual reality industry. Out of its factories come products like the Oculus Rift or the PlayStation VR, among hundreds of others.

In 15 years, the Chinese company has stood out as a giant of industrial manufacturing and ODM (Original Design Manufacturer) and reminds us that Made In China is now a guarantee of quality and innovation.

Goertek is today a leading technological and innovative company that focuses mainly on R&D, production and sale of electro-acoustic components, optical components, electronic accessories, 3D packaging and finished products (augmented reality , robotics, AI). The company works with many advanced technologies all around the world. Goertek has filed more than 19,000 patents since its creation. Goertek’s customers include big groups such as Panasonic, Samsung, Apple, Sony, Huawei and Lenovo. Finally, the company also cooperates with internationally renowned universities such as Stanford University or MIT. Jiang Bin knows that employees are the strength of the company.

The motto of Goertek is “We succeed together”.

Many measures have been taken in order to motivate and preserve talent. The company has set up all kinds of measures for its employees (insurance, education for children, workplace facilities such as dry cleaners, hairdressers, electrical terminals, psycho consultation). In 2012, Jiang Bin created a foundation dedicated to helping survivors and victims of natural disasters. In May 2016, Goertek donated $20M to Beihang University where Jiang Bin used to study, to promote research and cultivate talent. Jiang Bing is married to Hu Shuangmei and have one child.

« A better life enriched by technology »

KEY FIGURES

  • Headquarters in Weifang, China
  • More than 59 000 employees in the world Market capitalization : $10bn
  • Turnover : $4.9bn
  • Net profit : $180M
  • 37 Chinese offices and 9 international offices More than 19 000 patents

SOME AWARDS WON BY GOERTEK IN CHINA

  • Top 100 of the listed companies in 2014
  • 151st place among the top 500 private foreign trade companies in 2014 
  • 4th place among the top 100 best electronic component companies in 2015
  • 221st place among the top 500 private manufacturing compagnies in 2015
  • 5th place among the top 100 best electronic component manufacturers in 2017 and 2018

Jiang Bin is the founder of Goertek Inc., one of the Chinese leaders in wireless acoustic components. Goertek serves telecommunications and the electro-acoustic industries worldwide. His fortune is estimated at $4.1bn. (source : Forbes 2020).

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