The Birth of Shanghai's First Conglomerate

The group's annual meeting is usually held on the 15th or 18th.

The date when the entire group will take its annual leave is not far off.

Chen Pingsheng has decided to hold this year's annual meeting in Hong Kong.

There wasn't a specific reason; it was simply to let the employees have some fun during the two-day annual meeting.

Hong Kong's thriving film industry is not the only thing that has flourished despite its decline; it also boasts finance, real estate, and shipping, all of which were once dominant forces in Asia.

As for the internet, technology, or manufacturing sectors, they have basically been squeezed out by the land rent economy.

January 18th, less than half a month before the official start of the annual holiday.

Tencent Group convened its 20,000 headquarters employees in Hong Kong for its annual global headquarters gala.

It includes top-tier celebrities such as Liu Yifei, Zhao Liying, Yang Mi, Shen Teng, and Wu Jing.

Of course, there are also countless internet celebrities with over ten million followers.

Regardless of whether internet celebrities are fleeting or not, large-scale platforms like Xinteng Live and Tengyou Media can rapidly develop and incubate new internet celebrities through their own mechanisms.

The platform also needs to promote a key internet celebrity every once in a while to generate buzz and traffic.

Their relationship with the platform is one of mutual success.

At this year's annual meeting, Chen Pingsheng once again attended in a well-fitting Zhongshan suit.

To be honest, it's hard not to get arrogant when you reach his level.

Because with any action you take, countless people will offer all sorts of interpretations.

If you raise your glass even slightly, everyone will bend down and lower their glasses to toast you.

If he glances at any beautiful woman twice, whether she's a top star or a commoner school beauty, he might undress and appear in bed with her that night.

This is the boundless influence a man can have after reaching a certain level.

It is also an inner desire that he needs to be wary of at all times.

That's why he often goes back to experience the life of the middle class or ordinary people.

It serves as a reminder to myself that we are all ordinary people living in this world.

There were so many amazing singers at the company's annual party.

He still prepared two songs: Li Zongsheng's "Ordinary Man's Song" and Dou Wei's classic song "No Place to Hide".

It's okay that I can't hit the high notes in this song. As long as I'm of high status, the audience will still applaud.

As 17 came to a close, the development slogan for the entire Tengying Group in 18 became "seeking development while maintaining stability."

The core principle can be summarized in two words: stability and steadiness.

This reflects the changing times and is a key indicator for the group in the coming years.

Whether it's the entertainment industry or catering, milk tea, department stores, coffee, and retail, the focus will be on steady development.

Even at this year's annual meeting, Chen Pingsheng directly emphasized that a major turning point in the mainland property market is imminent.

He may not cause the economy to regress by decades like the housing market crash of the 1990s.

However, the downturn in all industries is almost a foregone conclusion.

Because more than half of middle-class families in China have their assets tied up in the real estate market.

Once the turning point arrives and the housing market circulation rate drops rapidly, the family assets of these people will quickly be devalued.

The corresponding effect is a downgrade in consumption.

Based on this judgment, Chen Pingsheng himself will increase his investment in Pinduoduo indefinitely.

Because it caters to the trend of consumption downgrading.

Taobao, Tmall, JD.com, and others are clearly betting on consumption upgrades.

The outcome of different paths will ultimately depend on whether the Chinese people become richer or poorer.

Because we live in Hong Kong, we enjoy more freedom of speech and other aspects.

Chen Pingsheng also directly urged the group's employees not to consider buying a house for the next three to five years.

At his level, a trip to Beijing would provide access to a wealth of top-level information. It's not that he's significantly smarter than others; it's just that he has access to more information that ordinary people don't.

The rise in housing prices in recent years is completely abnormal.

In a sense, it's more like raising prices to reduce inventory.

If this phenomenon were applied to the stock market, it could be interpreted as top-level market manipulators wanting to cash out.

Then it must first raise the stock price, since investors tend to chase rising stocks rather than falling ones.

Only by continuously rising stock prices can more retail investors be attracted to buy.

Meanwhile, the big players who orchestrate the scheme can remain hidden and cash out in the final wave.

The rest is history.

The chives come in waves, and they might even be uprooted.

If Chen Pingsheng's words were to get out, it would definitely cause a stir online.

But he still brought it up: he couldn't change everyone, but he could prevent his employees from becoming the last ones left holding the bag.

This also serves as a reminder to everyone to be vigilant against the turning point.

After the lively annual meeting lasted for more than four hours, the group's employees were free to go to Hong Kong for entertainment and shopping.

As for the remaining senior management team, they will all stay.

After the last wave of executive layoffs, the group has finally stabilized again.

Unlike before, its frontline employees have been greatly rekindled in their enthusiasm for work.

Because it's quite obvious that the entire group now advocates for fairness and impartiality.

This is a great source of happiness for those frontline employees.

As for retaining senior executives, the main reason is to announce next year's strategic development goals.

The general direction remains unchanged.

The group's core focus remains on developing new energy vehicles.

In addition, there are small venture capital funds, such as the Dream Fund.

We will focus on traditional markets and vigorously explore industries and targets for sustainable investment.

These are all part of the strategy for the future market.

As for the existing listed industries, they will be fully integrated with Tencent Media's influencer economy in 18.

This means going live on Douyin, primarily through your own corporate account or corporate marketing department.

First, cultivate a matrix of enterprises and deeply integrate with the online traffic economy.

Including Boiling Sheep, Deer Antler Coffee, and Bobo Milk Tea, all of them need to cultivate their own internet celebrity economy in 18.

Previously, it was just a matter of experimenting, letting them improvise.

Since 18, the online economy has been elevated to a strategic level.

If traditional industries don't embrace short videos, they don't even know how they'll be eliminated in the future.

Mastering short videos has become an important task for Chu Qiuyan and Yang Qian for 18 years.

The group's most important development direction is also adjusted according to the ever-changing times.

In recent years, short videos have become the most popular online apps among young people.

Everyone, including large corporations like theirs, needs to keep up with the times.

By the time this annual meeting concludes, the goals for 18 will be largely clear.

Chen Pingsheng himself made it clear that the little rascal would be on vacation soon.

He also had to rush to Shanghai to pick them up and bring them to Hong Kong.

(End of this chapter)