The Birth of Shanghai's First Conglomerate

Chapter 764: Approachable
Chen Pingsheng was quite approachable.

When I have free time, I'll sit on the first floor like those college students and find a book to read.

Even when there's nothing else to do, you can still play games on the computer.

His studious demeanor, typical of middle-aged and elderly people, was quite encouraging to the college students.

Who says people shouldn't learn when they get old? Look at him, he's still working just as hard.

As for Su Xiaoxi, she has her own principles. Although she has more freedom in her time after coming here, she still works very diligently.

There were no complaints whatsoever. That silly boy Chen Lu had his heart completely devoted to her, and his academic performance improved rapidly because of Su Xiaoxi.

Now, because she is somewhat depressed, such a large emotional fluctuation is taboo for any person in a position of power.

Chen Pingsheng put down the copy of "One Hundred Years of Solitude" in his hand. Apart from the fact that all the names in the book are long strings, it is indeed a very unique book.

He called Su Xiaoxi, who was arranging the bookshelf, over and asked her, "How are you getting used to work lately?"

"Uncle Chen, as I always have."

"Hmm... You're a top student from a prestigious university, so doing simple, brainless work every day isn't really suitable for you."

Chen Pingsheng handed her a book, saying, "This is the internal report on the development of Tengying Group over the past eight years. It records the group's development history in detail, including the detours we took and the internal meeting minutes."

Many large companies have their own development books, but these books are usually the result of embellishment by external authors.

Or perhaps it's to sing praises of the founder and establish a deified image.

The book "Tengying's Eight-Year Internal Reference" that Chen Pingsheng gave her was completely different.

It contains detailed records of the group's development and challenges at each major stage.

Most importantly, there are no perfect people in it, only timely adjustments after taking detours.

There are also speeches by high-level officials at various conferences.

These internal books are never sold to the public; they are only distributed to internal employees who reach a certain level.

This is purely for internal management.

Over the years, many people have wanted to write a business biography under Chen Pingsheng's name.

He rejected them all; he's not a legend, nor does he deserve to be one.

Su Xiaoxi was flattered and surprised to find herself holding such a thick book of Tengying's Eight-Year Internal Reference.

When she returned to school after work, she opened the book about Chen Lu's father as if it were a priceless treasure.

At a top university like theirs, the dormitory environment is very good, with only four girls living there.

Everyone usually studies diligently and rarely disturbs each other, only chatting occasionally when there is something to discuss.

Su Xiaoxi sat alone by the window, a ray of light shining on her face, making her look both desolate and beautiful.

When she opened the first page of the book, it contained a record of a summer in 2013.

At that time, traffic was the most important factor in the entertainment industry, and BAT (Baidu, Alibaba, Tencent) dominated the entire mobile internet era.

The three major video websites cover the entertainment industry.

Tengying Group was born in this environment. In its earliest days, Tengying Group relied solely on investment to generate profits.

Only after it grows bigger will it start using its own recruited artists or opening training classes.

All Tencent Film artists are employed under an independent personal system within the Tencent Film Group.

In other words, the group provides the resources, and the artist's small group receives 90% of the profits.

A good cooperation model has enabled Tengying Group to grow rapidly.

Ultimately, a development path was determined, centered on entertainment traffic and covering the entire physical industry.

In just a few short years, Tengying Group has successively invested in and established a large number of physical enterprises, including Bobo Milk Tea, Deer Horn Coffee, Snack Run, and Boiling Sheep Catering.

No path to success is predetermined; it is something that is constantly explored in response to the changing times.

Su Xiaoxi looked around until eight o'clock in the evening.

She not only saw the early development history of Tengying Group, but also learned about many drawbacks of large groups' development.

As with previous management teams who, before taking office, deliberately indulged themselves, leading to shocking incidents such as an internal "selection of concubines" within the entire group and collusion among offline management.

The group has held numerous large-scale meetings, made timely adjustments, and even undertaken sweeping reforms.

This is how the group has survived to this day.

This shows that no company's development begins smoothly.

Even someone as capable as Chen Lu's father only belatedly completed the group's reform after making many mistakes.

However, the values ​​he has always upheld have not changed.

The pace of development is so fast that people simply can't keep up.

The internal report detailed an investment failure that occurred shortly after TikTok was founded, when its founder approached them for funding at a valuation of $70 billion.

As a result, Chen Pingsheng and all the top investors he knew felt the valuation was too high and all passed on the deal.

Later, Chen Pingsheng only recognized the company's value and didn't pay much attention to the current price.

This is why he was able to successfully invest in Tesla in 16 and heavily invest in Nvidia in 18.

These two investments were the reason why his personal wealth increased dramatically.

After that, the entire group began a full transformation into the technology sector, investing from 16 until after 2023, when the technology sector finally achieved break-even.

The capital invested during this period was beyond imagination.

The book barely touches on the technology sector, only mentioning it briefly.

"Xiao Xi, what are you looking at so intently?"

One of her roommates came over curiously and asked her, and Su Xiaoxi replied, "It's nothing, it's just a book that an elder gave me."

"Oh...you have such good grades and you're still studying so diligently, can I borrow it to take a look?"

“This…” Su Xiaoxi hesitated. It wasn’t that she was stingy, but mainly because when Chen Lu’s father gave it to her, he didn’t say that she could lend it to others.

"See? But don't tell anyone else."

After thinking about it, she agreed.

"What kind of book is it, all so mysterious?"

My roommate took it and exclaimed, "Tengying's Eight-Year Internal Reference? How do you have a book like this? This isn't a book from the school library, is it?"

"No, it was given to me by Chen Lu's father."

"That's it."

Her roommate also started reading with great interest. The eight-year internal report included some of the controversies that arose during the recruitment process.

And changes in the human resources department of Tencent Pictures Group.

The founder's own philosophy was the most affected by this.

Early recruitment standards led to Tencent Film Group's personnel expenses far exceeding those of the entire era.

But the final result was also unexpected.

According to internal statistics, the turnover rate of the earliest impoverished college graduates recruited by Tengying Group was far lower than that of the industry average, and the same was true for their promotion rate.

The stability and recognition of its talent pool greatly ensured that Tengying Group weathered the three-year period of hardship that was the coldest period for the real economy.

Even now, most of those people have become the backbone of the entire group.

This also propelled the group forward steadily after leaving the halo of the founder's past.

From its past failures to its present successes, from basic personnel recruitment to its eight-year development history, Tengying Internal Reference meticulously records almost every step of the process.

There is no deification of any person in it; it is just a true record.

And the more this is the case, the more the book's true value is revealed.

Anyway, after reading it, Su Xiaoxi couldn't sleep for a long time, and even saw the golden age of entrepreneurship in it.

(End of this chapter)