Those Years When I Was Forced to Top the Forbes List

Chapter 249 Dimensionality Reduction Strike
People outside were discussing it, and people inside were starting to ask questions.

"Old Nie, this technique is worth so much? Why didn't you tell me before?"

Nie Neng had always controlled the Chongqing University of Posts and Telecommunications' School of Information Science and Technology. He was also the university president before, so no one else had the right to question him.

The new principal, Chen Liuting, had just been transferred from the Municipal Education Commission and, being a mechanical automation major, didn't know much about communications. He hadn't paid much attention to the school-run company's affairs.

He was shocked to discover that the school possessed such a valuable technology, yet the school only had tens of millions in expenditures each year, scrimping and saving, and his tone couldn't help but complain.

Seeing Chen Xuebing sitting opposite him, Nie hesitated for a moment before answering, saying with a slightly uncertain tone, "Regarding the technology licensing issue, we originally planned to talk to Datang, but the 3G licenses haven't been issued yet, and we're being pressured by Datang's patents, so we can't negotiate a good price. Therefore, I plan to wait."

Seeing that his words were vague, Chen Xuebing glanced outside the door and noticed that the conversation outside seemed to have stopped as they listened to what was happening inside. He then deliberately spoke loudly to them:

"That's right! There are prerequisites for us to offer such a high price! First, we need 3G licenses to be issued, allowing for full commercial use! Second, we need to be able to deeply optimize this protocol stack to maintain our technological lead! Third, we need to guarantee production and sales channels, ensuring that communication equipment manufacturers and mobile phone manufacturers purchase our chips! In this process, we also need to invest a lot of money to maintain our market position! It's not enough to just have this technology! There are still many variables!"

"Oh"

Chen Liuting and the two school leaders understood.

Chen Xuebing glanced outside.

I just don't know if the person outside understood.

Nie Neng seized the opportunity and said with a smile, "Mr. Chen is right, so we need to talk about exclusive licensing. Shouldn't we sign a guaranteed minimum revenue agreement every year? Otherwise, if Spreadtrum is not competitive in the market, our patents will be wasted, which would be a huge loss. Mr. Chen, how about we set a ten-year term, based on your 200 million, with a guaranteed minimum of 20 million every year? If the profit sharing is higher than 20 million, we'll go with the profit sharing. How about that?"

Chen Xuebing gave a dry laugh.

This old fox has a good plan: he pays out as usual when he makes a lot of money, and guarantees a minimum of 20 million when he makes less.

If the market is bad in the first year, he should be given 1000 million, and if the market is good in the second year, he should be given 3000 million. According to his calculation, he would have to pay 1000 million in the first year, so he would get 5000 million in two years.

Moreover, 3G licenses haven't even been issued yet.

"Hehe, Chairman Nie, I'm in the investment business. There's a saying in our investment world: 'No risk, no reward.' Since you're unwilling to take risks, how about a fixed annual dividend of 20 million, starting from the date the 3G is issued, with a dividend period of ten years? How about that?"

Chen Xuebing was in a hurry to propose this condition because he was afraid that something might go wrong.

The one outside must have her eye on it.

It would be good if they were interested in Chongqing University of Posts and Telecommunications.

I'm afraid they'll set their sights on Spreadtrum, such a big company.

Nie Neng fell into deep thought upon hearing this condition.

There was also some commotion outside.

He Zhiya rushed in: "Principal Chen!"

Ignoring both Nie Neng and Chen Xuebing, he walked straight to Chen Liuting and openly whispered something in his ear.

He couldn't hear what she was saying, but Chen Liuting's expression subtly changed.

After calming down for a few seconds, Chen Liuting stood up and said, "Let's wait and see about this."

After saying that, he glanced at Nie Neng.

Nie Neng's smile also froze.

He has authority, but Chongqing University of Posts and Telecommunications Information Science is, after all, a university-run enterprise. Now that he has stepped down from his position as president, Chen Liuting has the final say at the university.

Chen Liuting is a city-level cadre.

Chongqing University of Posts and Telecommunications receives its annual funding from the city government.

If Mount Tai were to truly descend, Chen Liuting would be unable to withstand it.

Seeing that he had really come in to cause trouble, Chen Xuebing stared at He Zhiya with an inscrutable expression.

He Zhiya also didn't want to offend Chen Xuebing, his cash cow, so he walked over, patted him on the shoulder, and whispered, "Leader Huang won't let you suffer any losses. Just wait a little longer."

Chen Xuebing looked outside and found that Leader Huang had already left.

He didn't even ride in the bus that had pleased him so much; it seemed he was probably going back to frantically study communications.

He sneered and said, "Old He, you're one of Leader Huang's top lieutenants, so I'll take your words as if they were spoken by Leader Huang. If..."

Chen Xuebing didn't need to say the unspoken implication.

The stock market is a place where they kill but don't bury.

He Zhiya, a usually steady old man, had surprisingly become quite slick lately, fueled by the secondary market. He chuckled and said:
"Then go settle accounts with Leader Huang! I truly admire you and consider you my mentor! Come on, let me treat you to tea!"

The people opposite were speechless upon hearing this.

Chairman He now holds the power of life and death over several state-owned enterprises in Chongqing, yet he bows down to this young General Manager Chen.
"Go find Leader Huang to settle accounts"—this is something you can say to anyone.
Both Nie Neng and Chen Liuting realized that Mr. Chen, the investor in Spreadtrum, had a lot of influence, and they felt a sense of powerlessness.

If Leader Huang were to personally intervene, Chongqing University of Posts and Telecommunications would likely become nothing more than a pawn at the mercy of others.

Leader Huang didn't treat Chongqing University of Posts and Telecommunications as a mere pawn, and after several days, there was no movement whatsoever.

Chen Xuebing guessed that Leader Huang was probably not too busy to remember, but rather being cautious.

When it involves the telecommunications industry, it's bound to be a big deal.

In such a large country, there are only six operators and two or three standards. Even a small communication package can have tens of millions of users.

But Chen Xuebing was quite anxious.

When Wu Ping contacted Nie Neng, he received a resentful reply: "Your General Manager Chen didn't reach an agreement with Leader Huang, so how can we negotiate? We originally had a supervision contract for a highway communication project, but now it's all been suspended."

Fortunately, Chen Xuebing held a card that caught the attention of Leader Huang, which forced Leader Huang to come and meet him.

On the morning of June 13, at the Three Gorges Square in Shapingba District, banners announcing the opening of Pang Donglai restaurant covered half of the building.

Downstairs, there were people everywhere.

"Dear customers, the upstairs area is crowded and the waiting time is too long. We suggest you come during off-peak hours to shop. Our discounts will last for seven days. Dear customers..."

The loudspeaker at the stairwell kept playing this sentence, which attracted a group of skeptical customers, and even some passersby wanted to go upstairs to see for themselves.

Under several large parasols, a dozen young people were enthusiastically serving people coming down from upstairs.

"Uncle, have some water! We made our own plum juice, it'll cool you down!"

"Wow! This tastes great! What did you use to season it?"

"Sour plum powder! They sell it upstairs! Uncle, I'll give you a sample pack. Take it home and drink it. If you like it, come back here to get more!"

A middle-aged man who had been watching for a while with his hands behind his back heard this and came over.

"If I don't go upstairs to buy anything, will you still deliver it?"

"Here you go! I'll get you a pack!"

A smiling girl wearing a vest with the Pang Donglai logo brought over a small bag of plum powder and explained, "Uncle, this is 20 grams, enough for four cups like this. If you prefer it sweeter, you can make three."

The middle-aged man actually received the plum powder and felt a little confused. After hearing the young girl's enthusiastic introduction, he was even more bewildered. After confirming that it was free, he took a deep look at the sign upstairs and left.

Another elderly woman came along, walking her dog and looking around as she prepared to go upstairs.

"Auntie! Are you going upstairs? Give me the dog! We can leave pets here!"

"Wang! Wang!"

"Oh no! No, no, girl, this dog can't live without me. If it's separated from me, it'll bark like crazy!"

"It's alright, Auntie! We have free snacks here, and the dogs love them!"

The auntie was taken aback: "Dogs... they even have special treats?"

"Yes! There's a pet section upstairs! But it's a bit crowded right now! The checkout line will take a long time! You can go up and take a look first, and if you see something you like, you can buy it next time!"

Seeing the little girl's sweet smile, the auntie laughed too: "Little one, is this your first time working? A new supermarket is bound to be crowded! You can't rush customers on opening day! It's bad luck!"

After saying that, he saw a row of pet cabinets by the door with many cats and dogs, and people were carefully feeding them, so he handed the dog leash to her and went upstairs.

Not far away, Leader Huang, along with several city and district leaders, quietly watched this scene.

"The service is good," said Manager Huang.

Just as Chen Xuebing was about to reply, Huang's secretary leaned in and whispered, "Mr. Chen, Huang has brought several leaders to visit the opening ceremony. Were there no ceremonies prepared?"

Chen Xuebing then realized what the group of leaders were waiting for downstairs, and laughed without hesitation, "It's my fault. I was planning to bring the leaders here as customers today, but I didn't inform them! I called Yu Donglai this morning, but he was sweeping the floor. I can't get through to him now either. I guess he's busy serving customers!"

"Oh?" District Chief Liu of Shapingba was somewhat surprised: "The chairman personally provides services? Is it a gimmick or...?" "There's no gimmick, it's just a personal habit!" Chen Xuebing waved his hand with a smile: "He's always like this, you can't find him in a crowd! I went to his supermarket in Henan to look for him, and after searching for a long time, he was just wearing a straw hat and playing cards with people at the entrance!"

The leaders all laughed.

Before even going upstairs, Yu Donglai left the leaders with a simple and honest first impression.

Chen Xuebing suddenly felt a pang of nostalgia.

Lao Yu's character is well-crafted.

Should I also cultivate a likable persona for myself?
"Then let's do as General Manager Chen says and go up and be customers!" Leader Huang waved to the waiting reporters: "Reporters, don't come with us, let them do their own interviews."

The secretary immediately ran over to negotiate with the accompanying reporters.

The group went upstairs.

At the entrance, there's a free shoe-shining area, an umbrella lending area, and a free ice jelly stall at the checkout counter, where customers in line can take whatever they want.

The place was packed with people, and many customers who came out were full of praise.

A group of leaders watched in amazement.

"Do they offer these services in Henan as well?" Director Huang asked.

"They don't have ice jelly or plum juice, which is a local specialty of Chongqing," Chen Xuebing guessed, then laughed, "They really understand the eating habits of Chongqing people."

Actually, when planning the Jiangbei flagship store, Chen Xuebing originally intended for them to try running a hot pot restaurant.

After all, when it comes to attracting customers to shopping malls, besides Pang Donglai, Haidilao is the best.

With Pang Donglai's service and quality control, and under his guidance, it would be absolutely no problem to create a Haidilao, and the ingredients would also highly overlap with their supply chain.

Hot pot is a dish where you can put almost anything in it.

He even came up with a name for it: "Pang Donglai Food Experience Store".

But people from Chongqing are picky eaters when it comes to hot pot.

The beef tallow must have an oil content of over 85%, the tripe must be directly supplied from the slaughterhouse at 3 a.m., and the base sauce must be hand-stirred by a local master chef.

Don't try to fool me. Many Chongqing locals can really tell the difference. Even Haidilao itself gets criticized a lot in Chongqing.

There's a political red line to sesame oil dishes: pure minced garlic!

Don't add any sesame paste or seafood sauce to my food!

Forget about 90-degree bowing service. I prefer bosses who personally scold their customers. It shows their quality is top-notch, and good wine needs no bush!

Don't offer any clear broth hot pot as a gift either. What kind of clear broth does a normal person eat? Unless there are pea shoots!

Authentic hot pot is the kind that gives you diarrhea after eating it!
These Chongqing locals become incredibly picky when it comes to hot pot, and each one has their own unique way of being picky. Chen Xuebing didn't want to cross that line, lest he dampen Pang Donglai's enthusiasm for service.

The group continued walking forward, searching for service details.

Actually, you don't need to look for them deliberately; they're everywhere.

There is a separate tasting area next to the fruit and vegetable section.

There is also a large processing station where live fish are killed, scaled, and gutted, and ice-preservation bags are provided free of charge. Meat is shredded or sliced, dried chili peppers are ground into powder, and hot pot base is packaged in portions.

The home appliance section has a temporary childcare area, where a row of small stools sit in front of a television playing cartoons, and there are dedicated caregivers.

Walking to the center of the hall, there is a round platform with several eye-catching characters on it: Chongqing Craftsmanship.

"Fuling Spicy Girl" chili sauce, "Bishan Bamboo Weaving" fruit basket, "Jiangjin Aged Vinegar", and "Hechuan Peach Slices".
When Leader Huang saw this special section, he was quite pleased. He walked over, picked up a bag of Jiangjin rice candy, looked at the price—17.5 yuan—and frowned.

"The prices aren't cheap at all."

"Pang Donglai doesn't rely on price wars, so our products are definitely a bit cheaper than those on the market, but some things are worth the price."

After Chen Xuebing finished speaking, he pointed to a sign stuck in the pile of products and said, "This is Pang Donglai's core service."

Everyone looked closely.

If you don't like it, you can get a full refund!

Leader Huang was somewhat incredulous: "How can we get a refund after we've already eaten it?"

Unheard of!

Chen Xuebing smiled and said, "Why don't you give it a try?"

Upon hearing this, Leader Huang looked around and, finding no one paying particular attention to them, immediately said:

"Let me try!"

After saying that, he opened the rice candy in his hand, took out a piece, and gave one to District Chief Liu next to him.

Today, many people came in to see for themselves, only to be amazed by Pang Donglai's service.

Now even Manager Huang has become a customer who doesn't believe in superstitions and insists on being difficult.

"waiter!"

A little girl ran up to him and said, "Hello, sir!"

"Why is this rice candy so bitter? It's not tasty! Can I return it?" Leader Huang, a native of Zhuji, vividly displayed the sourness characteristic of a small man from Jiangsu and Zhejiang when he got sour.

The little girl hesitated for a moment: "Um, this is caramel, it has a slightly bitter taste. If you don't like it, try the white rice candy, it's sweeter."

"I've already opened and eaten this, can I return it?" Manager Huang persisted.

"Yes, I can return it. Just give it to me." The young girl took the bag from his hand, then looked at the people next to her and asked, "Do any of you gentlemen like caramel? Would you like to try some? Our products are really good."

Seeing that the leader was deliberately making things difficult, Huang's secretary came over and took a piece.

The deputy district head also took one.

Chen Xuebing also smiled and took one.

The bag containing rice candy was almost half empty.

The little girl wasn't angry at all; instead, she watched them eat with a hint of anticipation.

The people who came after couldn't say it tasted bad; it actually tasted quite good.

"It's fine, but our leader doesn't like it. Let's return it," Chen Xuebing said with a smile to the young girl.

"Okay." The little girl smiled and left.

Everyone was silent for a while; the group of leaders were stunned by the 17.5 yuan.

Leader Huang glanced at the daily necessities section in the distance and tentatively asked, "If I buy a bottle of shampoo, can I return it after using half of it?"

"Don't even mention shampoo. If you buy a live fish, kill it, and bring it back saying it's not fresh, you can return it. It just depends on how embarrassed you are," Chen Xuebing said with a calm smile.

Everyone gasped.

"That's outrageous. How can the risks be managed?"

This service appeared way too early.

How early?
Taobao's seven-day return policy started with "Taobao Mall" in 2008.

The seven-day no-reason return policy was explicitly stipulated in the Consumer Protection Law in 2014.

The "Interim Measures for Unconditional Return of Goods Purchased Online" were introduced in 2017, which made all merchants accept unconditional returns.

They operate without physical stores and must use this method to gain consumers' trust.

Pang Donglai's "treating sincerity for sincerity" – a three-day no-reason return and exchange service – began in 1999.

"People's hearts, the trust of consumers."

Chen Xuebing spoke candidly: "Risks also need to be controlled. For some high-frequency, large-amount returns, we need to focus on verifying the reasons for the returns and registering them with real names. However, this will not affect consumers who really want to return the goods. Buying and selling should involve a negotiation process. It's a matter of mutual consent. It's just that there are too many bad people and too much of a barrier. No one is willing to show goodwill first. Pang Donglai is willing. If they succeed, it means that the Olympic spirit of improving the quality of the whole people has truly been put into practice."

Chen Xuebing knows how to attract attention, and his last sentence touched a nerve with the leaders present.

Olympic spirit!

Leader Huang turned to his secretary and instructed, "Please have those reporters come up and give them a good report."

(End of this chapter)