Rebirth in Hong Kong: From Dessert Shop to Industrial Empire

Chapter 27 Grand Ambitions (Please add to your favorites, vote for monthly tickets, recommend this book, and keep reading!)

On the day of the move, Chan Kee Dessert Shop on Kwai Lam Street in Sham Shui Po was exceptionally lively.

Neighbors gathered at the shop entrance, watching Chen Guofu and Wang Qiaozhen, their faces beaming, directing the employees who came to help as they carefully moved a few simple pieces of furniture and several heavy camphor wood chests.

"Uncle Chen, Aunt Chen, congratulations on moving!" Uncle Fu, with a pipe in his mouth, smiled and clasped his hands in greeting. "Golden Garden, a prime location in Mong Kok, Ah Wen has really made something of himself!"

"Thank you for your kind words, Uncle Fu!" Chen Guofu's voice was loud and clear, and his wrinkles smoothed out. "It's all thanks to the neighbors, and also to Awen for his hard work!"

The neighbors around him, especially the uncles and aunts who had watched Chen Bingwen grow up, looked on with envy and emotion.

"Tsk tsk, spending 210,000 to buy a building! The Chen family has really struck it rich!"

"Ah Wen is only eighteen years old and can already afford a house in Mong Kok, while my family's good-for-nothing son is still hanging out in gangs..."

"Ah Wen opened a food factory and made a fortune at the Victoria Park Lunar New Year Fair. He's truly a master at turning lead into gold!"

"More than that! Look at those mobile vending carts and dessert shops, and those two big factories—this isn't just a dessert shop anymore, it's clearly a large company!"

Chen Bingwen stood at the shop entrance, looking at the undisguised joy on his parents' faces, and a hint of reluctance to part with the old shop.

Smiling, he went over to comfort her, saying, "Mom and Dad, we're just moving out, it's not like we're never coming back. What's there to be reluctant about!"

The moving convoy drove away from Sham Shui Po and headed towards Mong Kok amidst the envious gazes of the neighbors.

When the car came to a smooth stop at the grand entrance of Jindu Garden, and the uniformed security guards respectfully opened the glass door for them, Chen Guofu and Wang Qiaozhen felt as if they had stepped into another world.

The gleaming marble floor, the bright lights, the quiet elevator—everything seemed so orderly and exuded the atmosphere of modern life.

Opening the security door of the new home, a bright and spacious space comes into view.

Although the furniture was simple, the windows were bright and clean, and sunlight streamed in through the newly installed beige curtains, creating a warm and tranquil atmosphere.

"Dad, Mom, this big master bedroom is for you." Chen Bingwen pushed open the door to the master bedroom. "It has a bay window and lots of sunlight."

“This is too big, Wen, you stay here. Your dad and I will stay in a smaller place.” Wang Qiaozhen waved her hands repeatedly.

“Mom, listen to me. You’ve worked hard your whole lives, you deserve to live in the best.” Without waiting for a reply, Chen Bingwen pushed his parents’ luggage into the master bedroom and pointed to another room, saying, “I’ll live in this west-facing room, it’s quiet, and there’s another room that I can use as a study.”

When the Chen family moved, Gao Zhenhai and his sister Gao Meiling also came to help with the setup.

Gao Meiling quickly helped Wang Qiaozhen make the bed and hang up her clothes, her face full of envy and sincere blessings: "Aunt Chen, this house is so beautiful! It's a hundred times better than our public housing!"

"Brother Wen is truly capable!" Her gaze as she looked at Chen Bingwen's retreating figure was filled with undisguised admiration.

The simple housewarming party was held in the dining room of the new home.

The roast meats and stir-fries that I brought back from the tea restaurant downstairs filled the newly bought dining table.

There were no guests, only the Chen family of three and the Gao siblings.

The food was ordinary, but it was of great significance.

Chen Guofu made an exception and opened a bottle of baijiu, pouring a small glass for Chen Bingwen and Gao Zhenhai as well.

He picked up his wine glass, his hand trembling slightly. Looking at the bright and clean new home, and then at his calm and confident son, a thousand words choked in his throat, but in the end, they all came out as, "Wen, great! Dad's happy!"

He tilted his head back and downed the pungent liquor in his glass in one gulp, his face flushed with excitement.

Wang Qiaozhen's eyes were also moist as she kept putting food on her son's and Gao's siblings' plates, saying, "Eat, eat more!"

We've moved to a new house; life will be even better from now on!

Gao Zhenhai was genuinely delighted: "Uncle Chen, Aunt Chen, Brother Wen, congratulations on moving! This house is truly magnificent!"

Gao Meiling smiled and agreed, "Yes, it's even more beautiful than the houses in the movies."

Chen Bingwen smiled and poured his father another glass of baijiu, then picked up his own glass and looked at the Gao siblings.

"Ah Hai, Ah Mei, thank you for your hard work these past few days."

Gao Zhenhai hurriedly waved his hand: "Brother Wen, what are you saying! You led us to start working and make money, and you even paid us a lot for overtime. We are so grateful to you!"

Beside her, Gao Meiling smiled and nodded vigorously while holding the bowl.

After dinner, the Gao siblings said goodbye and left.

Chen Guofu and Wang Qiaozhen, filled with excitement about their new environment and a touch of fatigue, went to bed early.

Chen Bingwen stood alone on the spacious balcony of his new home, gazing at the distant neon lights, contemplating and planning the future of Chen's Dessert.

The HK$2.48 million did not bring only ecstasy; this wealth was a lever to unlock a larger empire, not the end of pleasure.

The next morning, Chen Bingwen returned to the Kwun Tong Food Factory and immediately called Professor Zhou of Hong Kong Polytechnic University.

"Professor Zhou, good morning. I'm Chen Bingwen from Chen's Sweet Soup. We're ready for the bottled sweet soup project we discussed last time." Chen Bingwen got straight to the point, his tone warm and enthusiastic.

"Mr. Chen, you're really efficient." Professor Zhou's voice came through the receiver, tinged with admiration. "The bottled sugar water project, moving from the laboratory to the market, is no small challenge."

Flavor preservation, shelf life at room temperature, selection of packaging materials, and large-scale production processes are all challenging aspects.

Maintaining the unique smooth texture and natural flavor of the sugar syrup at room temperature while preventing microbial growth is a significant challenge in the current food technology field.

Are you sure you want to invest such a large amount of resources?

"Professor, I'm sure." Chen Bingwen's tone was firm. Only by achieving bottled production as soon as possible could they break through geographical limitations.

Moreover, with his advanced memories providing guidance, he believed that Professor Zhou's research and development would not take long.

"Chen Ji cannot be satisfied with just being found on the streets and alleys."

Sweet soup is a daily staple for Hong Kong people, but its convenience and consumption scenarios should be redefined.

Bottled packaging is a key step in breaking through the limitations of on-site production and sales.

Flavor is the soul, shelf life is the lifeline; this requires your professional team to overcome difficulties.

Chen Bingwen paused for a moment, then added, "Funding is not a problem; I have reserved special funds for research and development."

The site is right next to the Kwun Tong factory. I rented a warehouse and with a little renovation, it can be used as a research and development center.

Please provide me with the equipment list as soon as possible, and I will procure and install it simultaneously. We need both speed and quality assurance.

"Good!" Professor Zhou was inspired by his determination. "Since Mr. Chen has such courage, our college will definitely do our best."

Next week, I will personally lead the team to conduct an on-site investigation to refine the technical approach and experimental plan.

The joint laboratory model is excellent; we can conduct research and pilot-scale testing simultaneously, accelerating the industrialization process.

Bottled sugar water will be a brand new battleground, a milestone that will truly bring the "Chen Ji" brand into every household, convenience store, and supermarket shelf.

After hanging up the phone, Chen Bingwen summoned Gao Zhenhai and Zhong Qiang.

"Ah Hai, sign a long-term lease immediately for that vacant warehouse next to the Kwun Tong factory. The area should be large enough to be divided into a laboratory, a pilot plant, and an office area."

The renovation plan was launched simultaneously, and ventilation, water and electricity, and sewage disposal were all carried out to high standards, especially in terms of cleanliness, which was in accordance with food production standards.

That will be our Chenji R&D Center from now on!

"Understood, Brother Wen!" Gao Zhenhai perked up and quickly jotted down notes in his notebook. "I'll go talk to the homeowner this afternoon."

“Brother Qiang,” Chen Bingwen looked at Zhong Qiang again, “After the R&D center is launched, you will select four of the most meticulous and eager-to-learn technicians to follow Professor Zhou’s team throughout the entire process!”

We need to learn not only the technology, but also the R&D process, experimental methods, and problem-solving approaches.

In the future, we'll need you to train our own R&D team!

"Don't worry, boss!" Zhong Qiang nodded vigorously. "I will definitely select the best employees to participate."

After explaining the work arrangements, Chen Bingwen continued, "Chen's business is getting bigger and bigger, and we can no longer rely on just a few of us to do small-scale operations like before."

"I'm planning to set up a formal food company." Gao Zhenhai and Zhong Qiang were both invigorated upon hearing this.

The company has been established! This signifies that they are the core members of a formalized food enterprise.

"Brother Wen, how do we set up a company?" Gao Zhenhai asked, both excited and somewhat bewildered.

Chen Bingwen gestured for the two to sit at the conference table and patiently began to explain.

This was also the first time he had talked about his recent plans for Chen's Dessert in front of the two of them.

"The first step is asset injection."

All current operating assets, including: Cheung Sha Wan Food Factory, Kwun Tong Food Factory, 30 mobile food cart sales points in Kowloon, and five standard stores of "Chan Kee Dessert Station" in Mong Kok, Yau Ma Tei, Tsim Sha Tsui, Causeway Bay, and Central;

All trademarks and syrup recipes were assessed and valued, and then injected into the newly established company.

Gao Zhenhai was a little confused: "Brother Wen, aren't these shops and factories all yours? Why do you still need to buy your own things?"

Chen Bingwen patiently explained, "Ahai, this is called asset restructuring. It's like putting loose eggs into a sturdy basket, which increases the value of the basket (the company)."

In the future, when we take out loans, collaborate, or even sell shares, people will look at the value of the entire "basket," not just a single egg.

Gao Zhenhai reacted quickly: "Brother Wen, I understand! Just like the Victoria Park Lunar New Year Fair, when four stalls are bundled together for bidding, the price is higher than when they are sold individually! We are now bundling all our business into one big stall!"

“That’s right!” Chen Bingwen nodded approvingly. “I will find a professional accounting firm to complete the asset appraisal report as soon as possible.”

Zhong Qiang, concerned about the technology, asked: "Boss, the formulas all belong to the company now, how do we keep them confidential?"

“Brother Qiang, that’s a good question.” Chen Bingwen was prepared. “I control the key steps of the core formula and will license it to the company as a ‘trade secret’ for a nominal fee.”

At the same time, the company will sign a strict confidentiality agreement and a non-compete agreement with you.

"As for Shunda Logistics," Chen Bingwen looked at Gao Zhenhai, "Sheng Ge's side is our strategic partner. It maintains independent operation, but has signed a long-term exclusive delivery agreement."

Their stability and efficiency are a crucial part of our supply chain and a significant factor contributing to the company's valuation.

Chen Bingwen has a clear blueprint and ambitious goals. Through asset injection and standardized operation, he aims to upgrade a dessert shop into a food company with a complete industrial chain (production + distribution + sales), brand value, and stable cash flow.

Its valuation will far exceed the simple sum of its individual assets.

Asset integration is the skeleton, while improving profitability is the flesh and blood.

Chen Bingwen knew that in order to increase the company's valuation, in addition to scale, profit margin and growth potential were equally important.

Increasing the average order value and launching new products with high profit margins are top priorities.

"Currently, our main products, red bean paste, sesame paste, savory dumplings, and sweet soup sets, have an average order value of HK$1.5-2 and a gross profit margin of about 60%."

Chen Bingwen not only analyzed the situation but also taught the two of them step by step.

These ideas and approaches, while perhaps not entirely ahead of their time, were certainly unique in Hong Kong at that time.

Chen Bingwen glanced at Gao Zhenhai and Zhong Qiang, who were listening intently, and continued:
"This is very competitive in the industrial area, but in core business districts like Causeway Bay and Central, the price ceiling is still very high for white-collar workers and tourists."

He presented two meticulously designed plans:

"First, upgrade the existing product line."

The standard store launched a refined series, raising the price of a serving of sweet soup to 2.5-3.5 yuan.

The factory's distribution points still retain classic models to meet the needs of workers.

"Secondly, we will launch new high-profit strategic products! Coconut Milk Sago Pudding and Mango Pomelo Sago Pudding!"

Chen Bingwen's eyes gleamed, "The target audience is students, young women, white-collar workers, and customers who pursue trendy tastes."

He explained in detail these two desserts, which originated in later generations and will become popular in Asia in the future.

Coconut Milk Sago Pudding uses Thai coconut water and coconut milk, paired with chewy sago pearls, resulting in a refreshing taste, rich coconut aroma, and visual appeal. It is priced at 2.8 yuan.

Mango pomelo sago is made with sweet mango puree and coconut milk as a base, with sweet and sour grapefruit pulp to cut through the richness, and cooked sago pearls. It has a rich and distinct texture, an attractive golden color, and is full of tropical flavor.

Although the cost of mangoes is slightly higher, the profit margin is huge, and the price is set at 3.5 yuan.

"These two products have novel tastes, excellent appearance, and catchy names, making them very easy to generate buzz and positive word-of-mouth."

The trial will begin at five standard stores and mobile locations in Causeway Bay and Tsim Sha Tsui, highlighting a first-of-its-kind, summery concept for Hong Kong Island.

Chen Bingwen is full of confidence in these two blockbuster products, saying, "They will become our powerful tools for penetrating the mid-to-high-end market, enhancing our brand image, and increasing our average order value!"

There's another point Chen Bingwen didn't mention: the popularity of these products will also inflate the valuation of Chen Ji Dessert.

Gao Zhenhai was thrilled: "Brother Wen, just hearing the name 'Mango Pomelo Sago' makes me want to drink it! I guarantee it will be a huge hit!"

Zhong Qiang was a little worried: "Boss, the cost of mangoes is not low. If they're sold at such a high price, will anyone buy them?"

"Brother Qiang, don't worry." Chen Bingwen said with a smile, "White-collar workers in office buildings in Central and Causeway Bay spend more than ten dollars on a meal for lunch. Spending three or five dollars to drink a bowl of innovative dessert that is unique to Hong Kong Island, with generous ingredients and top-notch taste is a piece of cake for them."

We want to make money from those who pursue quality, novelty, and prestige.

Moreover, this mango pomelo sago will be our flagship product, representing Chen Ji's highest standards.

Chen Bingwen's analysis and plan unfolded like a clear blueprint before Gao Zhenhai and Zhong Qiang.

For them, terms like "establishing a company," "asset restructuring," "launching new products," and "increasing average order value" are both new and powerful.

Gao Zhenhai finally fully understood the meaning of "packaging up large stalls". He realized that Brother Wen's ambitions went far beyond the few factories and shops in front of him.

"Brother Wen, I get it! It's about bringing all the profitable businesses under one name and making that name more valuable!"

Gao Zhenhai slapped his thigh, his eyes shining, "From now on, when others want to partner with us or borrow money, they'll be looking at the capabilities of this large food stall, not how many bowls of sesame paste a single dessert shop sells!"

“That makes sense.” Chen Bingwen nodded, satisfied with Gao Zhenhai’s understanding. “Brother Qiang, you just need to keep the formula confidential in mind.”

I will have a lawyer draft the documents. The core steps will be handled by me; you will be responsible for breaking down and executing the production process to ensure safety.

Zhong Qiang breathed a sigh of relief: "Boss, I understand. The recipe is our livelihood, we can't be careless."

He didn't want to lose his job and get embroiled in a lawsuit because of the leaked formula.

“Okay,” Chen Bingwen stood up and walked to the Hong Kong Island map hanging on the office wall, which marked the locations of existing factories, distribution points and standard stores.

"The next step needs to be swift."

"Ah Hai, go and negotiate the warehouse lease next to the Kwun Tong factory immediately. Professor Zhou's R&D center needs to be established as soon as possible; the site and renovations cannot be delayed even for a day."

"Received!" Gao Zhenhai stood up abruptly. "I'll get on it right away!"

"Brother Qiang, new product development is the most important thing. I've already written down the recipes for coconut milk sago pudding and mango pomelo sago. Take them back and get on the standardized production trials as soon as possible."

The key points are taste, sweetness balance, and stability of ingredient ratios, especially the ratio of mango and grapefruit in mango pomelo sago and the control of the ripeness of sago.

I need to see samples that can be consistently produced within a week.

Zhong Qiang took the slip of paper from Chen Bingwen, which listed the core ingredients and general steps for the two new products: "Don't worry, boss, I'll oversee it personally. Mangoes are expensive, so we need to make them the best we can and avoid any waste."

“Hmm.” Chen Bingwen looked at it. “I will find a professional to handle the specific procedures for the company’s establishment.”

Your current task is to help me lay a solid foundation, establish the R&D center, and successfully launch new products.

The two men accepted the order and left, leaving Chen Bingwen alone in the office.

Company establishment, bottling, and new product launch. These three lines are like high-speed gears, interlocking and driving the "Chen's Dessert" machine forward with a roar.

Every moment of delay could mean missing out on a trendsetting opportunity.

In the late 1970s and early 1980s, Hong Kong Island experienced an economic boom, with opportunities everywhere. However, it also harbored countless covetous individuals and eager competitors. Speed ​​was of the essence, and Chen Bingwen could not afford to waste a single second.

　I'll update this first and then revise it. Thank you so much for your support! Thank you!
　　
　
(End of this chapter)