2003: Starting with Foreign Trade

Chapter 414 Preparations After Organizing Finances

"Is this how you usually talk to Pengya at work?"

Tan Jinyue was running around the house, and Tan Jincheng didn't close the door to the study. He was speaking loudly, and Zhang Suzhi, who was passing by, heard him.

"I just told them the consequences of not completing the task. Besides, I can't really fire him, I can only deduct some money from his pay."

"Couldn't you be more tactful? What if he gets upset if you do it this way?"

"No need for euphemisms, it's better to be straightforward at work. That's how Qingqing and I always assign tasks. He's an adult, and he needs to learn to manage his own feelings if he's upset."

Tan Jincheng always felt that it was better to keep things simple and direct. He might feel a little uncomfortable at the time, but it would pass quickly afterward and wouldn't leave any lingering resentment.

However, Tan Jincheng is rarely as strict as he is today. He really feels that, if he doesn't put it more seriously, the GXG project team is really falling behind schedule and has spent a lot of money to acquire the brand operation rights.

It's a well-established brand, and the clothing styles only need minor adjustments to suit the body types and aesthetics of Chinese people. If they can't quickly enter the market and build brand awareness with such good conditions, it would be a waste of resources.

In 07 and 08, we had to build up GXG's brand awareness in the national market, and elevate it to the level of Metersbonwe, so that we could have a big breakthrough when the Double Eleven online shopping festival came in 2009.

Opening a store, advertising, hiring celebrities for endorsements—these are all things you have to follow. And the celebrities you hire for endorsements aren't just entertainment stars; with the Olympics coming up, no celebrity can match the popularity of athletes.

This time, GXG chose Sun Yue from the Guojia Basketball Team as their spokesperson. The Guojia Basketball Team's fighting spirit at the 2008 Olympics left a deep impression, and Sun Yue had several impressive moments, including several spectacular blocks against Carmelo Anthony.

Sun Yue's performance at the Olympics wasn't the best, but he was daring and hardworking, and he's also quite handsome. As a spokesperson, he might not be the best, but he's definitely the most cost-effective.

Even if nothing unexpected happens, Tan Jincheng wouldn't hire Liu Feiren. His endorsement fee is too damn expensive, and frankly, the cost-effectiveness isn't very good. Besides, he already has too many endorsements, including a bunch of well-known brands. Given GXG's brand status, he's not even in the top priority list.

Other athletes are not quite as good in terms of appearance, and their commercial value in minor sports is generally not that great. Sun Yue, as a basketball guard in one of the three major ball sports, is just right.

Sun Yue's endorsement fee is 150 million yuan for two years. This is because he was selected for the national team to participate in the Olympics, so the fee has increased a bit. Otherwise, 100 million yuan for two years would probably be enough, which is very cheap.

These days, if there's a chance to piggyback on the Olympics, you should definitely do it; the buzz is definitely stronger than that of celebrities.

Most importantly, except for the top-tier athletes, endorsement fees are genuinely cheap. Aside from a few more regulations, there are no other hassles. While they can't directly use the Olympic image during the Olympics, they can...
The endorsement period in 07 and 08 was perfect, and since the Olympic cycle was over, there was no need to renew the contract. The cost-effectiveness was truly unbeatable. In addition, this guy also won an NBA championship ring in 09.

Tell me if it's reasonable or not? It'll shock Old Zhang and give GXG some talking points for its brand image.

Today is the first day of the May Day holiday. Tan Jincheng mainly handled official business at home and didn't have any other activities. Gu Qingqing went home, as she is still a student.

It's perfectly reasonable for students to go home for the holidays, but they probably won't stay for more than a few days. Last month, Tan Jincheng went back to his hometown to pay respects to his ancestors, and the enthusiasm was so overwhelming that even the county sent people to try to contact him.

Compared to Tan Jincheng, Gu Qingqing's experience is even more legendary if you disregard the controlling shareholder behind Orange Technology.

She studied computer science on her own during her sophomore year of college, and founded Orange Technology, a company outside her major. With an investment of 300 million yuan from her father, she became the legal representative and CEO of Orange Technology. In just one year, Orange Technology's valuation made her a billionaire.

Born in 1987, a junior in college, an entrepreneur, a woman, a billionaire, and known as the most beautiful CEO in the internet industry—all these labels are concentrated on one person, Gu Qingqing.

As a student of Ningbo University, Gu Qingqing receives the most enthusiastic promotion, and the halo surrounding her is arguably even more dazzling than that of Tan Jincheng, who came from a less privileged background.

This is the difference between having a formal employment contract and not having one.

Tan Jincheng, a self-taught individual, wants to increase his reputation, but he has no other way but to continuously improve his own strength, which may even attract the covetousness of those in the shadows.

Gu Qingqing, on the other hand, doesn't need to do that. Orange Technology has several large investment institutions backing it, and she herself is a college student at Ningbo University. Those who attacked Flashspeed before didn't dare to say a single bad word about Orange Technology.

Don't underestimate the power of being a college student. This identity is often an absolute shield, and no one dares to provoke them easily.

With Gu Qingqing's current fame, Yiwu is far more developed than Tan Jincheng's hometown, and the spread of news there is on a completely different level. Gu Qingqing probably won't have a moment's peace if she goes home, and she'll have to come back within a couple of days.

She's still too young. Before she left, Tan Jincheng reminded her to be careful about the enthusiasm of her relatives and even the neighborhood committee when she got home. Having never experienced anything like this before, Gu Qingqing even thought it would be similar to her last Mid-Autumn Festival visit to Tan Jincheng's hometown. How could this year be the same as last year?

In the heyday of the physical retail industry, it was really profitable. Shanchi, Jinpeng, and Jinyi, the three companies they founded, had very good financial situations. Bafang Electric, which was consolidated into the financial statements at the end of last year, is a downstream supplier.

However, as it is a core component, its financial situation is also very good.

Dexian Electronics, which was consolidated into the financial statements for the first time this year, performed quite well. However, the current situation is not optimistic. Money is becoming increasingly difficult to earn. The 3C digital industry in Guangdong Province is very developed, dating back to 1980, and has a history of more than 20 years.

The industry has now entered the late stage of rapid development, including hardware manufacturing companies such as Huawei and Sino-Singapore, and even software development companies such as Tencent.

When a market develops to the point where giants emerge, it is in the later stage of rapid development. The pursuit then shifts from simple scale to quality, and high-quality development becomes the goal of the next stage.

Guangdong Province has also introduced a number of support policies in this regard, which is one of the reasons why Zhao Wu was able to accept the sale so readily. With both policies and money, it wouldn't be difficult for him to find a direction to start a new business.

Currently, 3C products are extremely reliant on distributors. D.Phone, Hongtu Sanyou, Gome, and Suning are their important distributors. However, with the decline in home appliance profits, powerful distributors like Gome and Suning have begun to prepare to intervene in the 3C retail business.

The current king of distribution channels, Meituan, has announced the establishment of a communications company, causing turmoil in the industry. In addition, China Mobile and China Telecom have also entered the retail industry of 3C products.

Simply put, the offline channels have entered a chaotic battleground. Due to the lack of transparency in the pricing of electronic products, everyone wants a piece of the pie, which poses a significant threat to the profits of electronics manufacturers.

However, Tan Jincheng's acquisition of Dexian Electronics was not for the purpose of making 3C products, but rather to become an OEM manufacturer of mobile phone lithium batteries. 3C products were just an add-on, and the decline in profits brought by distributors was actually insignificant.

With Jin Yi Industrial's export channels, its self-produced and self-sold 3C products still have a certain survival space even under the impact of the financial crisis. In addition, Tan Jincheng does not value offline channels such as Gome very much.

With the arrival of the mobile internet era, their good days are numbered. Online shopping is the future channel for 3C products. At worst, they can cut everything off and learn from the example of Da Zui's drastic measure of cutting off customized phone business to achieve a drastic rebirth.

Pisen's flagship product isn't computer accessories or other 3C products, but rather their power banks. This is the key product that ultimately made Pisen known in the market.

Developing the prototype of the power bank with all our might, and then making things like phone cases, should be the next cash flow business we need to focus on.

Speaking of all the businesses related to e-commerce and online shopping in the Flash Group, they are more profitable than many stores today. Before Tmall appeared, most Taobao store owners were individuals, which made their channels much weaker.

Tan Jincheng's Taobao store, opened as a company, directly eliminates middlemen and has the support of a group company for courier services, which is much more efficient and profitable.

Now that the group company is so large, it takes several days just to look at these financial statements. Unlike before when there was only one company, Flash Technology, Tan Jincheng didn't need to look at the financial statements to know the company's operating status.

"We really are lacking in talent."

After reviewing financial statements at home for two days, Tan Jincheng's biggest takeaway was this: each company has its own independent finance department, and the final reports are all compiled and processed at the head office's finance headquarters. Even this centralized processing is a very difficult task.

There are also many signatures and decisions to be made on a regular basis. It can be said that the biggest problem that FlashDrive is currently facing is the lack of middle and senior management talent. The company has developed too fast and the quality of its staff simply cannot keep up.

Once the Tianjin factory, Wangjiang industrial base, and Luzhou power battery factory are fully operational, the data will be even more massive.

It looks like I'll have to work with a headhunting firm after the holiday to recruit some management talent from various companies, and also find two more highly skilled assistants to form an assistant team.

Otherwise, with this kind of work intensity, he'll get erectile dysfunction sooner or later.

Needless to say, Tan Jincheng's financial restructuring this time was in preparation for the automotive business, and it was also time to establish more connections with Zhongtai.

I haven't had much time to follow Zhongtai lately, and I don't know how far their new model development has progressed.

Research and development? Tan Jincheng was mistaken. Zhongtai, which had made a fortune from selling cars, had no intention of engaging in any research and development. Ying Jianren was busy buying things everywhere.

(End of this chapter)