The Birth of Shanghai's First Conglomerate

9 month 5 number.

The matter of the young woman's cheongsam shop being vandalized has been largely resolved.

Even if that burly man with the buzz cut went bankrupt, he could only come up with a little over a million, which wouldn't even cover a fraction of the compensation.

All that's left is to go in and repent.

Chen Pingsheng went to the Hongxing Hotel near his parents' place twice more. When it first opened, business was very good, but now it's just so-so.

The main reason is not anything else; currently, gatherings for consumption are discouraged everywhere.

I'm afraid that something might go wrong and I'll get sick or something.

If we're talking about what kind of economy will rise when consumption declines, it's roughly those industries where happiness can be obtained with low consumption.

For example, affordable snacks, mobile games, etc.

These are things that can bring happiness for a small amount of money; nobody likes watching movies that cost tens of dollars a ticket.

The short drama industry is also undergoing a revolution. To call it a revolution would be more like to say that it is getting rid of the current padded TV dramas.

Those short dramas that were highly homogenized are also being upgraded, with many high-quality short dramas of ten minutes or so being produced.

Its characteristics are short, fast, and exciting, perfectly satisfying the needs of viewers.

The market needs to undergo significant changes; otherwise, where would we find the energy to continuously develop new markets?

Similarly, on September 7th, after the establishment of Tengyou Investment Fund, it invested in more than a dozen projects in just one month.

With an investment amount of up to 2.9 billion yuan, this is undoubtedly another newly emerging venture capital fund in the short video field in China.

On September 10th, Tengfei New Energy launched its new vehicle, and orders continued to surge.

Good news keeps coming!

Chen Pingsheng didn't pay much attention to these things; he took some time to visit his wife.

Song Yanxi has been busy with the expansion of Tongxin Family recently.

If Shuiyunjian is only for high-end consumers, then Tongxinjia is affordable for almost anyone.

Because of the lower level of consumption, the employees' income cannot be compared with that of the employees at Shuiyunjian.

The difference is more than just a little bit.

The average monthly salary of employees at Tongxinjia is between 10,000 and 15,000 yuan.

The price over at Shuiyunjian is between 40,000 and 60,000.

Even with store profit sharing and various benefits, it still can't compare to a purely high-end establishment like Shuiyunjian.

A neck and shoulder wellness treatment at Tongxin Home only costs a couple hundred yuan.

The minimum income at Shuiyunjian starts at two thousand, so employee salaries naturally follow the consumption patterns.

To avoid excessive comparison between the two companies, Michelle Song simply separated the two companies.

Subsequent financial reports, including employee salaries, will not be made public.

To be honest, these days, it's considered quite good if you can earn tens of thousands of yuan after studying for one or two years and then graduating.

It's just that with Shuiyunjian ahead of them, the employees who come after will feel a certain sense of inferiority.

If you completely separate these two sides, everything will be fine.

Once people adapt, there will still be plenty of people willing to do it.

Song Yanxi had no choice; Shuiyunjian's revenue had dropped by almost half this year.

The decline exceeded 30%, and it is estimated that it will fall further next year.

This is entirely determined by market factors and has little to do with their own business operations.

His wife's side has always been all women, so Chen Pingsheng rarely comes, and it's not very convenient for him to come.

There are often internal training sessions, and the girls are always naked during these sessions.

How embarrassing it would be if he accidentally saw this.

"Yanxi, Tongxinjia should be able to turn a profit within two years, right?"

"About the same," Song Yanxi said. "At most two years. People are more health-conscious these days, so they'll just go online and find health programs themselves without much advertising."

“That’s good.” Chen Pingsheng nodded. “I don’t think there’s any need to pursue an IPO for this project in the future. If possible, we should try to increase the employees’ income.”

It wasn't that he was particularly kind-hearted; it was mainly because this industry brought together many genuine rural girls.

Or they are married women who would be happier if their boss earned a little less.

Earning an extra billion or eight hundred million a year is simply not worth mentioning to him.

He might as well use this project to accumulate more good fortune for his family, hoping for a life free from illness and disaster.

"It's probably not possible right now. Once things are really stable here, I'll try my best to improve employee benefits. We'll only need to keep 8% of the net profit for ourselves."

The gross profit margin in the health and wellness industry is generally very high; for a project costing 200 yuan, the product cost is very low.

The only expense is the labor cost, which is generally between 15% and 25% in the health and wellness industry.

Of course, proper health maintenance is the standard.

The informal kind, at least 50% or more.

Taking only 8% of the net profit is already very low; the rest should be used to provide high incomes for employees.

This is a low-end industry, and their goal is to open five to six thousand stores within three years.

If we calculate based on eight employees per household, there would be approximately 50,000 ordinary female employees.

This is undoubtedly another huge number.

He never expected to make a lot of money in this low-level industry; he mostly just shared profits with his employees.

"By the way, do you ever think about becoming a teacher in the management school yourself?"

"Then forget it."

Song Yanxi said, "You became the honorary principal over there and didn't attend a single class. If I were to be demoted to a teaching position or something and still not attend a single day, there's no point in doing that."

"Too."

Chen Pingsheng said leisurely, "I used to think I would go there to take classes often, but after spending a day there I realized that almost half of them are junior managers from Tengying Group. If I were to go and teach them, would it be like calling the boss to a meeting or calling the teacher to give a lecture?"

That's why he chose not to go there often.

Changfu, on the other hand, was having a great time and seemed to really enjoy being a teacher.

He and his wife are both very famous.

As soon as you sit there, everyone in the grassroots of Tengying will recognize you.

It would be awkward if a perfectly good management school turned into a meeting of bosses.

Song Yanxi asked him if he had anything else planned for the afternoon. If not, she suggested that he invite the management team to have lunch together.

Chen Pingsheng didn't have much to do in the afternoon, except that he was going to pick up Dapiwa in the evening.

There are also small restaurants in the headquarters canteen, so you don't need to go out to order food.

You can eat very well here.

Song Yanxi arranged a large private room, which was full of more than a dozen people, all of whom were senior managers of her women's team.

Some of the people were people he knew, but most of them were people he didn't know.

My younger sister, Chen Qi, also holds a temporary position here, but she only works sporadically.

I'm just getting paid by Xianyu (a second-hand marketplace platform).

These high-ranking executives, who are mostly girls from rural areas, are now able to manage their own finances.

In the early days, the main way to manage money was to speculate on real estate with the boss's wife, but later the boss's wife sold off the properties.

They followed suit and threw it too.

After realizing that making money from real estate became difficult, those with spare cash started learning how to invest in stocks.

All the inside information was provided by Song Yanxi; she took care of her whenever she could.

We should try our best to help everyone earn more money.

(End of this chapter)