Rubble trader becomes a billionaire


ChinaAt the age of 33, Cao Ngoc Can still went around collecting scraps, but more than ten years later, Cao Ngoc Can became a billionaire.

Cao Ngoc Can was born in 1976 in Hefei city, Anhui province into a poor family. He only finished high school, then stayed at home to work in the fields, get married and have children like many other young people in the village.

Family life was difficult, so at the age of 32, he said goodbye to his wife and children to Shenzhen, looking for a chance to change his life. No degree, no youth, Cao applied for jobs everywhere but couldn’t. In order to stay in the city, he worked as a porter, carrying goods… the salary was just enough to rent a dilapidated house, even without windows.

Spending frugally, after a year he had a little capital to open a popcorn stall in the market. Many times, seeing a scrap collector passing by the store, he also wanted to give it a try. “Anyway, this job does not take capital, just work hard,” Cao thought. He collected enough 1,000 yuan to buy a tricycle and decided to change jobs.

Cao Ngoc Can is currently the General Director of YTO Express. It is one of the ten largest express delivery companies in China. Image: 163.com

Every day, Cao leaves home at five o’clock in the morning and only returns late at night. Working hard, one day he earned 3,000 yuan. However, the man is very frugal, only eating steamed buns every meal, the money he earns is sent back to his family.

Working as a scrap collector, he comes into contact with all kinds of people every day, so he gradually learns how to treat people. Wherever he collects scraps, Cao also cleans up, and is very demanding in his work, so he is loved by many people.

However, he was always aware that this was only a temporary job, so he started to turn to recycling some electronic waste. Although the purchase cost is higher, the profit is also better. Tao’s life has also been less difficult since then.

Once in a country meeting, a friend showed off a new camera bought from abroad. At that time, digital cameras were unfamiliar in China. Immediately, a business idea flashed into my head. He thinks that if the camera is popular in the international market, it will certainly be popular in China as well.

Back home, Cao searched for documents and did his own research to design the drawing of a digital camera. After a month when the design was completed, he reached out to businesses that could manufacture cameras in Shenzhen, hoping to cooperate. Finally, a boss agreed to help Cao make a model.

Bringing a sample camera to offer, many times Cao was kicked out. Undeterred, he continued to offer many other places and finally a company accepted. Initially, the owner of this company was not satisfied with the design of the product, just said to leave a sample for customer comments. Unexpectedly many customers appreciate the shape as well as the quality. The owner immediately ordered a series of products. From the first order, Cao has collected 600,000 yuan (2.1 billion) in profit.

Then, with the sales getting better and better, Cao Ngoc Can established two factories, starting to produce his own products.

In 2008, the world financial crisis hit, causing Cao’s factory to go bankrupt. In 2010, he returned to his hometown. Cao’s cousin previously opened a courier company YTO Express in Anhui, but due to difficulties, it is also about to close. Realizing a new opportunity, Cao suggested that he transfer the company to him.

Cao Ngoc Can inspects parcels at the company, November 2021.  Photo: 163.com

Cao Ngoc Can inspects parcels at the company, November 2021. Image: 163.com

At that time in Anhui, this was the worst performing express delivery company, even with only a few employees. Cao Ngoc Can began to stay up at night to learn operating knowledge and change a series of new policies.

The first thing he did was increase the base salary of his employees to stimulate them to work harder. He also stipulates that if the parcel is lost, it is the employee who must compensate, not the company, so the loss situation is reduced, customer complaints are not as many as before. The final change is to speed up delivery times for customers, if not exceptional, all parcels must be delivered on the same day.

Thanks to Cao Ngoc Can, after a few years, YTO Express has entered the ranking of top service companies in China.

By 2017, Cao Ngoc Can built the headquarters of YTO Express with an area of ​​100,000 m2, expanding its business to air logistics distribution, warehousing and building an e-commerce service center. Currently, he is an active billionaire and philanthropist in China.

Vy Trang (According to 163.com)

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