Zhang Ruimin on Economic Moats

Zhang implemented strict, military-style workplace rules at Haier, including fines for employees who did not push in their chairs when leaving desks, reflecting an operating culture centered on discipline and process control.

Haier pursued an active foreign-acquisition strategy under Zhang, including acquiring New Zealand appliance maker Fisher & Paykel in 2012 and Sanyo's Japanese white-goods business around 2011, as part of global expansion.

By the year prior to Zhang's 2021 departure, Haier Group reported revenue of 230 billion yuan, net profit of 11.47 billion yuan, total assets of 352.8 billion yuan, and a combined market value across its three publicly traded subsidiaries of 278 billion yuan, growing from 29 manufacturing plants and over 70,000 employees globally, per Caixin.