Rebirth in Hong Kong: From Dessert Shop to Industrial Empire

Chapter 26 Secure the Pocket (Please add to your favorites, vote for monthly tickets, recommend this book, and keep reading)

The interview lasted nearly two hours, starting with Chan Kee Dessert Shop, a small shop of less than 30 square meters in Sham Shui Po, and how they discovered the potential needs of workers in the industrial area and pioneered the mobile sales point model.

How to win four stalls at the Victoria Park Lunar New Year Fair and become famous overnight.

How did we withstand the pressure to expand through loans, establish a central kitchen, set up 20 mobile outlets, 5 standard stores, and now this new factory in Kwun Tong?

“Every step we take has been difficult, but we strive to make steady progress.” Chen Bingwen’s voice was calm and powerful. “Quality is the foundation, and trust is the soul.”

Without these two things, Chen's wouldn't be where it is today, much less tomorrow.

This sesame paste incident serves as a wake-up call and a test for us.

It has made us more acutely aware that the larger the scale, the greater the responsibility, and the more obsessive we must be in safeguarding quality and trust!

The rhetoric that everyone in later generations is familiar with stirred Lin Xiaowei's emotions.

He realized that the young boss in front of him possessed a depth of thought and business acumen far beyond his years.

Finally, Lin Xiaowei specially asked Chen Bingwen to stand next to the brand-new water purification equipment, with the busy and orderly production line as the background, and took a photo.

The following day, the Hong Kong Island Commercial Daily published an interview titled "An Industrial Revolution Triggered by a Bowl of Sweet Soup!"

The accompanying photo is of Chen Bingwen standing next to the water purification equipment, his eyes calm and exuding a maturity beyond his years.

The interview with the Hong Kong Island Commercial Daily was like a small stone thrown into the calm lake of Hong Kong's business community.

In a villa in Deep Water Bay, Li Ka-shing, having just finished breakfast, habitually flipped through several major newspapers.

When he saw the photo of Chan Ping-man standing next to a water purification system in the Hong Kong Island Commercial Daily, along with words that were ahead of their time such as "Industrial Revolution," "Standardization," and "Quality First," his gaze lingered for a moment.

This future "superman," who started with plastic flowers and is now ambitiously planning for an even larger empire, had a barely perceptible smile playing on his lips.

"It's interesting that a business located on a street corner can achieve such a scale!"

He muttered to himself and casually placed the newspaper aside.

For him, this news was just a small episode in his morning reading, an example of a struggling person from the bottom of society emerging.

In the Fulimen Tea Restaurant, Zhang Shichang slammed the newspaper heavily onto the greasy table, splashing a few drops of coffee.

"Pah! He just got lucky! A sugar water vendor dares to call himself an entrepreneur?"

Although he spoke toughly, when he saw the descriptions in the report such as "sales of thousands of bowls per day," "central kitchen," and "coverage of 30 points in Kowloon," he felt an indescribable irritation and a trace of barely perceptible jealousy welling up inside him.

He realized that this young man, whom he once regarded as a rival, seemed to have broken out of his familiar circle and embarked on a fast track that he could not understand and could not catch up with.

At the morning meeting in the office, Zhou Mingzhe, the manager of Wing Lung Bank, deliberately held up this newspaper, pointed to Chen Bingwen's photo, and said to his team: "Look! This is the client I approved a loan of 300,000 against all odds last time!"

In a short period of time, Chan Ping-man went from a dessert shop in Sham Shui Po to a food factory and sales network covering Kowloon, and now he's on the front page of the Hong Kong Island Commercial Daily!
These are the truly promising entrepreneurs our bank needs to find and support!

His tone was filled with pride; Chen Bingwen's success was undoubtedly a highlight of his career.

The impact of the interview went far beyond just gaining fame.

In the following days, business at Chen Ji Dessert's various mobile outlets and standard stores clearly took another step forward.

That article became the best advertisement. Customers came not only for the delicious dessert, but also with curiosity and trust to see what this quality-conscious boss could make.

Gao Zhenhai excitedly reported to Chen Bingwen: "Brother Wen, the Mong Kok store sold out twice this morning! The staff all said that many people came looking for us with newspapers in hand!"

However, despite the bitter sesame paste incident, Chen Bingwen remained completely unfazed.

Fame is a double-edged sword; the higher you are praised, the more devastating the fall will be.

The fact that this crisis was averted and even turned into a blessing in disguise is largely due to timely and sincere crisis management and the "scientific endorsement" brought by Professor Zhou's authoritative report.

But what about next time? What if the problem lies in a more hidden aspect?

He knew that praise was like a bubble, easily burst, and only solid internal strength could support Chenji to go further.

Establishing an independent quality control department has become his top priority.

He summoned Gao Zhenhai, Zhong Qiang, and the key team leaders from the Cheung Sha Wan and Kwun Tong factories together.

"Everyone," Chen Bingwen's voice was not loud, but it carried an undeniable weight, "this incident has served as the loudest warning to us."

What has enabled Chen Kee to achieve its current success? It's the word-of-mouth reputation from the neighborhood, the trust of our workers, and the brand we built at the Victoria Park Lunar New Year Fair! But all of this is built on one foundation—quality!

His gaze swept over everyone.

“In the past, we were small and could manage things by relying on experience and a sense of responsibility.”

But now?

The Cheung Sha Wan and Kwun Tong factories produce dozens or even hundreds of barrels of syrup every day, which are delivered to dozens of locations in Kowloon!

If any step goes wrong, what is delivered to the customer will not be sweetness, but bitterness!

This time it was a water issue; next time it could be a batch of raw materials, equipment cleaning, or operator negligence! We can't be this lucky every time!

"Therefore, starting today," Chen Bingwen announced loudly, "a dedicated quality control department will be established. Its sole responsibility is to ensure that every step, from the raw materials entering the factory to the finished products being delivered to the sales outlets, meets the highest standards set by Chen Ji! Unqualified products will absolutely not be allowed to leave the factory!"

I personally selected the people in the quality control department, and they report directly to me!

Over the next few days, Chen Bingwen personally selected four of the most rigorous, meticulous, and principled people from among the existing employees.

Two people each at the Cheung Sha Wan factory and the Kwun Tong factory.

They may not be the most technically skilled employees, but they are definitely the most critical and stubborn.

Chen Bingwen gave them a short intensive training session, the core of which was all the key control points in the production of sugar water.

In addition, Chen Bingwen specifically dedicated time each day to training employees on quality control issues.

As a food production company, if you don't have a sense of quality control, it's only a matter of time before problems arise.

Therefore, Chen Bingwen now requires even ordinary employees to understand and master the importance of quality control.

Just as Chen Bingwen was fully focused on building a quality control system and consolidating the foundation of Chenji Dessert,

The Wharf Holdings takeover saga was surprisingly brought to a halt by those with ulterior motives.

For several days, neither newspapers nor radio stations reported on the matter.

Since the news that Jardine Matheson Chairman Newbikin urgently sought help from HSBC ignited the market, Wharf Holdings' share price experienced a precipitous drop, and the market has fallen into an eerie calm.

The stock price fluctuated narrowly between 31 and 33 yuan, and the trading volume also shrank significantly compared to the previous record high.

Speculation about the "mystery buyer" continues to circulate in the market, with Li Ka-shing's name being mentioned more and more frequently, but Cheung Kong Holdings has maintained an intriguing silence.

Aside from issuing platitudes such as "actively seeking solutions to protect shareholder interests," Jardine Matheson has taken no further substantive action.

Entering March, the market finally began to change.

Several large buy orders spearheaded the price increase, which began to rise slowly but steadily, breaking through resistance levels of 35 yuan, 38 yuan, and 40 yuan one by one, with trading volume increasing moderately.

A suppressed excitement and speculation began to permeate the market.

By March 6th, it had surprisingly risen to nearly 46 yuan.

Chen Bingwen, who closely monitors the market and possesses a "prophetic" perspective, understood the undercurrents beneath the calm surface.

He was well aware that, in the original historical trajectory, Wharf Holdings would eventually rise to nearly HK$46, and then, due to HSBC's strong intervention and mediation, Li Ka-shing "pragmatically" accepted HSBC's arrangement and gave up the acquisition of Wharf Holdings.

As a result, Wharf Holdings' stock entered a period of decline that lasted for several months until Li Ka-shing transferred the Wharf Holdings shares he had acquired to Pao Yue-kong at a favorable price, which triggered another fierce battle for the Wharf Holdings takeover bid.

However, by then the two sides in the conflict had become Y.K. Pao and Jardine Matheson, both backed by HSBC.

The financial briefing showed Wharf Holdings' closing price yesterday: HK$45.8.

This figure is very close to that historic milestone, and it has almost reached the lower limit of the market's valuation of Wharf Holdings' assets at this time.

The time window is closing.

HSBC's intentions are about to become apparent. Once the news of a successful mediation is announced, the share price is likely to fall sharply due to unmet expectations. Continuing to hold the stock carries far more risk than opportunity.

Without hesitation, Chen Bingwen dialed Manager Zhang's number.

"Manager Zhang," Chen Bingwen's voice was very decisive, without the slightest hesitation, "Please operate on my behalf and clear out the positions."

Wharf Holdings is selling all its stock at market price.

There was a two-second silence on the other end of the phone; Manager Zhang was clearly surprised by this sudden decision.

He thought Chen Bingwen would wait a little longer and try for an even higher price.

"Mr. Chen? Are you sure? The current price is 45.8, the market is relatively stable, and there's no news from Jardine Matheson or HSBC, so perhaps it can still..."

"Confirmed." Chen Bingwen's tone was unusually certain. "With the money in hand, my goal has been achieved."

He didn't explain further, but that unusual decisiveness was clearly conveyed through the telephone line.

"Understood!" Manager Zhang, true to his professionalism, calmly replied, "I'll arrange it immediately, close the position at market price! I'll give you final confirmation of the transaction shortly."

The time that followed became rather long.

Chen Bingwen sat in his office, his fingers unconsciously tapping on the desk.

His gaze seemed to be fixed on the factory buildings outside the window, but his mind was completely absorbed in the silent financial transaction.

Half an hour later, the phone finally rang again.

"Mr. Chen! All sold! Average price: HK$45.6!" Manager Zhang's voice carried a hint of relief and excitement at completing the task. "Excellent! After deducting commission and all fees, your account balance is HK$2,487,800!"

The funds have been fully transferred to your designated bank account. Congratulations, Mr. Chen!

Even though he was mentally prepared, Chen Bingwen's heart still skipped a beat when he heard the exact number.

Two million four hundred and eighty thousand! Even though Chen Bingwen had already calculated the amount, his heart still skipped a beat when the number was clearly announced.

"Thank you for your hard work, Manager Zhang. It's been a pleasure doing business with you!"

Chen Bingwen's voice remained steady, but a slight smile crept onto his lips.

With this fortune, which was an astronomical sum for ordinary people in Hong Kong in 1978, he would have an almost limitless amount of fuel and possibilities for his future development.

Previously, it was necessary to proceed step by step, accumulating funds and strength little by little.

With this funding, Chen Bingwen decided to try a different approach.

However, he needs to solve the housing problem first.

The Chen Kee Dessert Shop, less than 30 square meters in size, on Kwai Lin Street in Sham Shui Po, is both a shop and the "home" where the family of three has lived for more than ten years.

His parents squeezed into the narrow attic, while he slept on a makeshift "bed" made of a few planks of wood downstairs.

The environment was cramped and damp, offering absolutely no privacy.

Before, I had no money, and I had to stretch every penny in half to spend it.

All profits were invested in expansion.

Now, he has enough confidence to give his parents, who have worked hard for half their lives, and himself, a truly stable and comfortable home.

"Dad, Mom, it's time for us to move." Chen Bingwen calmly announced the decision when he got home for dinner.

Chen Guofu was picking at the rice in his bowl when he heard this, his hand trembled, and he almost dropped his chopsticks.

Wang Qiaozhen was also stunned. She put down her soup bowl and looked at Chen Bingwen.

"Move? Move to where?" Chen Guofu's voice was a little dry. "We've lived in this shop for more than ten years. Although it's a bit old and cramped, we're used to it."

Besides, what will happen to this shop if we move away?

He subconsciously looked around the small space that held half a lifetime of joys and sorrows.

Although dilapidated, it is full of memories.

"Keep the shop open," Chen Bingwen said gently. "This is the root of Chen's Shop, and it's our brand."

But I can't stay here anymore.

The place is too small, the environment is poor, and it's not good for your health.

You've worked hard for most of your lives; you deserve to live more comfortably.

Wang Qiaozhen's eyes reddened slightly: "Awen, Mom knows you're filial. But buying an apartment must cost a lot of money, right?"

Although we've made some money now, the factory still has expenses, the workers need to be paid, and we still have to repay the bank loan. We need to be careful with our spending and prioritize business operations.

Chen Bingwen understands his parents' concerns.

They are used to being frugal and meticulous in their calculations for survival.

"Mom and Dad, don't worry." He put down his chopsticks, took his mother's hand, and looked at his father. "I've got the money sorted out. The money we made from Wharf Holdings' stock is enough for us to buy a nice house, and we'll still have plenty left to support business expansion."

This is not a waste of money; it is a reward for your hard work over the past half-life, and it is the dignity that Chenji deserves.

He paused for a moment, then continued, "We've moved, so the attic on the second floor of the shop can be vacated. We can store some raw materials or tools there, and use it as a temporary rest area."

"So, which building do you want to buy?" Chen Guofu finally relented, his voice carrying a hint of barely perceptible expectation.

Who wouldn't want to live in a more spacious and respectable place?
Before, I didn't have any money, so I didn't even dare to dream of owning a house. I could only hope that the public housing I applied for would be available soon.

"Mong Kok, Golden Garden." Chen Bingwen already knew his target and directly gave the name.

Although he wanted to buy a house, he didn't intend to do it all at once.

Now is not the best time to buy a house; buying a temporary home is sufficient.

If I really want to buy, I'll wait until the stock market crash and real estate collapse of 83.

Chan Ping-man explained, “Golden Garden is a residential complex built two years ago. It has a great location. It’s right in Mong Kok, with very convenient transportation and a very convenient lifestyle.”

As he spoke, he took out the prepared materials, a few pages of information he got from a real estate agent: "I've got my eye on a three-bedroom unit, about 700 square feet (about 65 square meters)."

This size is spacious enough for our family of three, and it will be enough even if we have guests in the future.

"700 square feet. How much would that cost?" Wang Qiaozhen was most concerned about the price.

“The price is around HK$300 per square foot,” Chen Bingwen said, revealing a figure that made his parents gasp. “The total price is around HK$21.”

"Two hundred and twenty-one thousand?!" Chen Guofu's voice changed.

In their past understanding, this was an astronomical figure, a huge sum of money that a dessert shop might not be able to accumulate in decades!
“Yes, 21. This house is just a temporary measure for us,” Chen Bingwen said calmly.

"Transition?" Wang Qiaozhen asked, puzzled.

Chen Bingwen laughed and said, "Yes, it's a transition. My career is just starting out, and my focus is still on Kowloon."

Buying a property in Mong Kok makes it convenient to manage the factory and shops.

Once we've established a stable foundation, I'll buy you a truly grand house in the Mid-Levels of Hong Kong Island, with its back to the mountains and facing the sea!

That's where we'll truly settle down.

“Jindu Garden is great,” Chen Guofu nodded excitedly, his voice slightly choked. “I’ll listen to you, Wen! Dad believes you!”

Mid-Levels on Hong Kong Island? That's a place they wouldn't even dare to dream of.

Wang Qiaozhen wiped her eyes and smiled, "Yes, let's listen to Awen! We're moving!"

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(End of this chapter)