Management Models and Their Limitations - The article discusses four common management models: personal management, delegation management, oversight management, and excessive institutional management, highlighting their limitations [2][3][6][7]. Personal Management - Personal management lacks standardization and replicability, as it relies on the charisma of an individual, making it difficult to sustain once that individual leaves the company [2]. Delegation Management - Delegation management has vulnerabilities due to the difficulty in accurately assessing the capabilities and character of those entrusted with responsibilities, which can lead to negative impacts on company development [3]. Oversight Management - Oversight management is limited in scope and can be arbitrary, as it relies heavily on the authority of individuals, potentially leading to a situation where the owner becomes overly involved in day-to-day operations, undermining the roles of functional departments [6]. Excessive Institutional Management - Excessive institutional management can lead to an overwhelming number of processes and regulations, resulting in inefficiencies and a bloated talent pool, which can hinder operational effectiveness [7][9].

Group 1 - Midea Group's logistics subsidiary, Ande Intelligent Logistics, is planning to list on the Hong Kong Stock Exchange, potentially marking the 10th publicly listed company controlled by the He family [1][5] - The He family has built a vast capital network through Midea Group, spanning various sectors including home appliances, healthcare, environmental protection, culture, and logistics [4] - Midea Group has been actively pursuing spin-off listings, with Ande Intelligent Logistics being a key component of its ToB (business-to-business) strategy [7][10] Group 2 - Ande Intelligent Logistics, established in 2000, focuses on supply chain solutions and has a nationwide service network covering over 130 cities, with a warehouse area exceeding 8 million square meters and a fleet of over 30,000 vehicles [7] - The company aims to achieve a revenue of 30 billion yuan by 2025, with over 80% of its business coming from external clients, showcasing its market expansion capabilities [11] - The decision to list on the Hong Kong Stock Exchange is influenced by the need to avoid stringent A-share listing requirements and to capitalize on the favorable valuation environment for ToB logistics companies [11] Group 3 - Midea Group's revenue is projected to exceed 400 billion yuan in 2024, with its ToB business becoming a significant growth driver, contributing over 25% to total revenue [10] - The company has faced challenges in its ToB business, including low profit margins and competition from major players like JD Logistics and SF Express [10][11] - The He family's governance model emphasizes a balance between family control and professional management, allowing Midea to thrive as a leading private enterprise [13][17]