The Birth of Shanghai's First Conglomerate

Chapter 535 Global Annual Meeting
The listing of Tengyou Media was like a bombshell.

The funds were invested in the entire domestic stock market, which is beneficial to the capital market.

Short videos have become commonplace in recent years; some people missed out while others seized the opportunity.

Even Weishi, which was nurtured by giants like Tencent, was beaten down by Douyin.

These are all platform-level companies, while leading influencer companies like Tengyou Media have achieved a valuation of 80 billion yuan by relying on early-stage development of influencers.

This is something that many large investors never expected.

This has led numerous large companies to see the opportunities in short videos and to encourage their employees to open online video accounts.

Douyin's Doujia also made a fortune at this time.

Consequently, the value of his 3.5% stake in Douyin also increased.

Douyin's "Dou+" strategy essentially involves spending money to buy traffic, which means that the era of unbridled growth for short videos is about to end.

In the early days, all sorts of ordinary people could become super internet celebrities overnight through luck or certain special talents.

In the later stages, however, it basically becomes the domain of capital.

It's practically impossible for someone without money to get rich overnight through such a grassroots platform.

There may still be such cases, but the chances will become increasingly slim as capital continues to enter the market.

After completing this IPO, Chen Pingsheng will only have 21% of the shares in Tencent Media.

It remains the largest shareholder.

Tengyou took only three years from its inception to its IPO.

This speed is undoubtedly astonishing.

February 18, 2019.

Chen Pingsheng held the 2018 Global Annual Summary Conference of Tencent Film Group in Shanghai.

This is both a look ahead to 2019 and a summary of the past year.

Looking back, Tengying Group faced numerous market challenges in 2018.

After several reforms and adjustments, we were fortunate to have made it through.

It also established a CEO rotation system, completely changing the era of rule by man where companies could rise or fall because of one person.

At the same time, they also launched a massive wave of layoffs at their headquarters in 2018.

Regardless of the reason, corporate layoffs are a dereliction of duty by senior executives, including the chairman.

The reason for this is that competition in this era has become increasingly fierce, and if Tengying Group is not careful, it will face elimination at any time.

Chen Pingsheng stood on the stage, below him were more than 100,000 employees from Tencent Film headquarters.

To date, Tencent Film Group has a total of 720,000 employees.

The number of employees is not what we are proud of; what we are proud of is that we have provided each of them with the five social insurances and one housing fund, as well as weekends off and eight days off per month.

If that's all there is to it, it still can't be something we can be proud of.

What makes us even more proud is that our group's employee salaries and benefits are far ahead of the competition.

This is what a company should truly be proud of.

Thunderous applause erupted from the audience, and both Chen Jianjun and Peng Ying, who were sitting in the front, couldn't help but shed tears.

With a son like this, how can I not be proud and honored?

Even Erpiya was listening attentively, without making a fuss.

“In the past, we would select 100 outstanding store managers every year and award each of them one million yuan in cash. This year, as we have more and more stores, we will select 200 outstanding store managers and the individual bonus will increase from one million to two million yuan.”

"Not only have the bonuses for outstanding store managers increased, but the group has also added awards for the most beautiful waitress, the most beautiful grassroots employee at headquarters, and the best middle-level manager."

I earned too much in the past year, in addition to the bonuses that had been predetermined within the group.

Chen Pingsheng personally donated one billion yuan as employee bonuses. Such a huge sum caused some to burst into tears after initially laughing.

Some people even started laughing while crying; they were all outsiders.

It's not easy to work in a big city. If he's that rich, he really should treat his employees better.

After all, without the hard work of these hundreds of thousands of employees, he wouldn't be enjoying his success and prestige.

A billion! Even Chang Fu was shocked.

Most of the time at a group's annual meeting is spent handing out money.

The employees have worked hard all year. Do you really expect your boss to spout a bunch of nonsense at a company annual meeting that doesn't cost any money?
More than a thousand people received the bonus, most of whom were frontline employees.

The remaining half are middle management.

The minimum is 100,000, and the maximum is 2 million.

This is completely separate from the group's year-end bonus; it is Chen Pingsheng's personal reward.

It's both an encouragement and a way to make them happy at the start of the new year.

In response, he also announced a major announcement.

"In 2019, I will personally award 200 apartments in Shanghai to the best store managers, and 100 small apartments of 100 square meters to the group's middle management."

Tengying Group no longer belongs to him alone, but is a commercial behemoth supported by these 700,000 employees.

By the end of 19, the apartments near Kingsoft headquarters will be completed, as will the Tengying high-end community.

A 100,000 yuan bonus might excite these ordinary employees for a few months, but a house will definitely excite them for many years.

He is no longer the street vendor he once was, but a well-known entrepreneur throughout the country.

Once you have the ability, you should go and protect the poor and needy.

At the very least, they should give their internal employees a satisfactory explanation.

This is also why Chen Pingsheng rarely makes donations outside; Tengying Group still has too many employees who are worried about dowries and buying houses.

How could he possibly hand over this money to those exploitative and greedy charities?

In 2019, Tencent Pictures aimed to expand its workforce to one million employees.

At the same time, we will do our best to make our due contributions to some traditional industries.

He said a lot and took a lot.

The only thing left unsaid was the group's 2019 goals.

Tengying Group is very simple: if you do your job well and achieve high performance, you'll have more bonuses than you can ever earn.

This applies not only to senior management but also to the most junior, ordinary employees.

Don't worry that your contributions will go unnoticed, just like a new female employee at Deer Antlers Coffee.

The girl had just come from the mountains and didn't know anything, but she treated her work and clients with the utmost sincerity.

She will also receive the Most Beautiful and Outstanding Waitress Award, with a prize of 300,000 yuan.

Employees' spontaneous behavior should never be encouraged by words alone.

The group headquarters must treat every outstanding employee who is willing to contribute well; only in this way can their market share continue to grow.

Corporate profits will also increase.

This is also the main reason why the brands under the Tengying Group can maintain the best reputation in an increasingly competitive era.

We do not take advantage of our large size to bully customers, nor do we use brainwashing training to deceive our employees.

Treat customers with sincerity and provide excellent benefits to encourage employees to spontaneously consider the store or company their home.

In the long run, they may not be the most profitable in the market, but they will certainly be the ones who survive the longest.

(End of this chapter)