羡慕段永平的王石，真的老了！

Core Viewpoint - The article reflects on the journey of Vanke and its founder Wang Shi, highlighting the company's rise and current challenges, emphasizing the impact of Wang's leadership style and market decisions on Vanke's trajectory [5][21]. Group 1: Company History and Development - Vanke was founded in 1984 by Wang Shi, initially as a trading company dealing in consumer electronics, achieving over 50 million in revenue and 3 million in net profit in its first year [9][10]. - The company underwent significant transformations, including a shareholding reform in 1986, which aimed to clarify ownership and led to the establishment of Vanke as a real estate developer [14][15]. - By 1991, Vanke was listed on the Shenzhen Stock Exchange, with a diverse shareholding structure that included state-owned, collective, and foreign shares, which facilitated its entry into the real estate market [15][16]. Group 2: Market Position and Strategy - Vanke quickly adapted to the real estate sector, becoming a leading player in a competitive market characterized by both state-owned enterprises and local developers [18][19]. - The company distinguished itself through a focus on product quality and customer service, achieving a reputation for excellence in the mid to high-end market segments [20][21]. - Vanke's strategic decisions, such as slowing down expansion in favor of quality over quantity, contributed to its strong financial health and reputation as a "top student" among real estate firms [21]. Group 3: Leadership and Challenges - Wang Shi's leadership style, characterized by a strong desire for control, led to significant conflicts during two major shareholder disputes, the "Junwan War" and the "Baowan War," which impacted Vanke's stability [23][24]. - The "Baowan War" resulted in substantial financial strain on Vanke, as aggressive tactics to fend off external investors drained resources and shifted the company's focus back to high turnover and expansion [24][25]. - The article suggests that had Wang Shi approached these conflicts with a more market-respecting attitude, Vanke might have navigated its challenges more effectively, potentially avoiding its current difficulties [25].