Reborn since 1993

Chapter 1387 The Bullet from Three Years Ago
Wanjia Appliance City was a hidden project planted by Dongling Hi-Tech, not a direct investment by Dongling Hi-Tech.

Instead, the investment comes from the Wanjia Foundation, which was established in Singapore. Over the years, Wanjia Appliances City's funds have been flowing in and out through the Cayman Islands, Bermuda, the Virgin Islands, Hong Kong, Singapore, and other places.

Over the years, it has become impossible to find out who invested in the Wanjia Foundation, but on the surface, it has no connection whatsoever with Dongling High-Tech.

Starting with the acquisition of Blanger Electric Appliances in France, Wanjia Electric Appliances City has been expanding rapidly across all sectors over the years.

Wanjia Appliance City consists of a large appliance mall and appliance retail stores. It has stores in various parts of Europe, from Paris in France to England, Germany, Italy, Southeast Asia, and mainland China.

In recent years, the scale of Wanjia Appliances City has been continuously increasing. Even during the Southeast Asian financial crisis, Wanjia Appliances City still acquired many large shopping malls from Siam, Malaysia, Singapore, Japan, South Korea and other places to serve as Wanjia Appliances City stores.

In terms of scale alone, with Dongling High-Tech's continuous and subtle investment over the years, Wanjia Appliance City's store scale in Old Europe alone has surpassed the number of established appliance chain brands in Old Europe such as Saturn Appliance City, Metro, and Midea.

Wanjia Appliances City, located in the old European appliance market, did not rely on price wars to seize market share, but rather on service and after-sales support as its selling points.

Sales staff at places like Wanjia Appliances City receive professional training every year, enabling them to make recommendations based on user needs, including when buying computers. They can help users solve the problem of choosing a computer by considering the intended use of the machine and the user's budget.

This is not an easy task. It requires patience, professional skills, and the ability to ensure that the sales associate stays long-term, rather than running away right after training!

To achieve this, the headquarters of Wanjia Appliances City implemented a salary plus profit-sharing system for its various local appliance stores.

For example, the monthly salary of employees at a Vanguard electronics store in Paris depends on their basic salary and the profits of their store. The more the store earns, the higher their bonus will be.

This inadvertently binds the store employees to the Wanjia Appliances Mall where they work. They are not working for Wanjia Appliances Mall, but for themselves!
When you're working for yourself, whether you want to earn more money depends on your ability and performance. Under such circumstances, you can imagine how they would treat their customers. Who would be cold and indifferent to their sugar daddy?

Besides service and professional product recommendations, Wan Jia Appliances City's selling point is its after-sales service and repair.

Like America, old Europe had extremely high labor costs. Anywhere that required manpower, forget about hiring; the prices were outrageously high.

Repairing electrical appliances, home appliances, and electronic products all require human intervention, and you can imagine how expensive that would be in old Europe. Sometimes, the cost of a single repair is almost as much as buying a new machine.

Wanjia Appliances City promises delivery, installation, after-sales service, and repair. Even after the warranty period, there are standard charges. Although they charge money, it is by no means outrageously expensive.

After-sales service for Wanjia Appliances City is mainly handled through small retail stores. These stores not only sell products but also provide after-sales service and repairs, with the latter playing an even greater role.

After-sales service is sometimes handled by the original manufacturer, while in other cases, it is handled by Wan Jia Appliances Mall personnel according to the agreement. Even if the warranty period has expired, Wan Jia Appliances Mall's after-sales service will still handle repairs, but... you have to pay. Of course, the amount you pay is fixed and they won't overcharge you.

Like the sales assistants in the mall, Wanjia's after-sales service technicians also receive commissions, and their salaries are quite high.

With this combination of strategies, Wanjia Appliances City now has a similar feel to JD.com in the old days of e-commerce in Europe.

Although the products sold at Wanjia Appliances City are a few cents more expensive than those in appliance stores that engage in price wars, the products sold at Wanjia Appliances City are guaranteed, and after-sales service and repairs are also provided.

Middle-class families are the main customer group of Wanjia Appliances City. They need products that are both cost-effective and have requirements for brand, image, and after-sales service, which Wanjia Appliances City meets.

To achieve all this, Wanjia Appliances City has to reduce its profits, allocating a portion of its earnings to select brands and distribute profits to employees. Currently, all of this requires significant financial investment to maintain Wanjia Appliances City.

Among companies in the same industry, the employees of Wanjia Appliances City have the highest income.

The profits distributed to employees are substantial, and the land and shops beneath the Wanjia Appliance City mall and stores were all purchased for their own use.

This results in Wanjia Appliances City's profits being significantly lower than those of chain appliance brands such as Metro and Saturn.

But for Dongling Hi-Tech, it doesn't need to make much money from Wanjia Appliance City. As long as it survives and can continue to increase the number of stores, that's enough!

After all, what was the mission that Li Dongling gave to Wanjia Appliances City when he established it?
It's not about how much money it makes or how quickly it fleeces investors; it's about establishing an offline sales channel system for Dongling Hi-Tech overseas.

Then, Dongling High-Tech's products can continuously enter the market that Wanjia Appliance City has entered through this channel.

Wanjia Appliances City performed this task exceptionally well!
Moreover, Wanjia Appliances City also has hidden income, namely membership income, which has become increasingly important in Wanjia Appliances City in recent years.

Members of Wanjia Appliances City enjoy benefits such as the lowest discounts on appliance purchases, extended warranty periods, and discounts on repairs.

Currently, the membership renewal rate of Wanjia Appliances City is around 60%, which is far from enough compared to the membership scale and renewal rate of traditional shopping malls such as Costco. However, Wanjia's number of members worldwide is also increasing.

Now, Wanjia Appliances City is preparing to take another step forward, launching an assault on the throne of the world's number one appliance chain brand. "Wanjia Appliances City has been in preparation for so many years."

"I've prepared plenty of cards and have a backup plan; this time I'm sure I'll get what I want!"

Li Dongling stroked Ning Wenke's hair and said to her.

"I'll be in Gangcheng for a while, working on the preparations for Wanjia Electrical Appliances City. Nothing unexpected will happen!"

Upon hearing Li Dongling's words, Ning Wen snuggled closer to him and curled up even more.

Li Dashanren's words clearly indicate that he intends to personally oversee Wanjia Appliance City. With Li Dashanren in charge, what could Ning Wen possibly worry about?
Compared to the fierce competition for telecommunications in Hong Kong back then, the current Wanjia Electrical Appliances City is nothing compared to the bigger picture!
Looking at Ning Wenke, who was fast asleep, Li Dongling gently stroked her hair. He estimated that he would be staying in Hong Kong for a while.

In Hong Kong, there's a huge mess to deal with. Besides the launch of 3721 and Ruyan e-cigarettes, there's also the TVB issue!

Mr. Shao has already spread the word that he will withdraw from TVB, and now many people inside and outside Hong Kong have their eyes on this largest Chinese television station in Southeast Asia.

Li Dongling would definitely try to acquire this television station if given the opportunity.

Just like how Wanjia Appliances City is set up overseas to serve as Dongling High-Tech's overseas sales channels.

With TVB, Dongling High-Tech now has its own mouthpiece and publicity channels in Southeast Asia. The influence of the internet can surpass that of traditional media.

However, Dongling High-Tech can't just do nothing and wait for more than ten years. Who can guess what might happen by then?
By securing TVB, they have essentially gained a stable base of public opinion, which allows them to promote and advertise Dongling High-Tech's products.

Secondly, when faced with a public opinion crisis, Dongling Hi-Tech can also make its voice heard through TVB, so that it won't be silenced and unable to say anything, suffering in silence.

Only the person who wronged you knows how wronged you are, but your opponent will not pity you; instead, they will take advantage of your weakness to kill you!

If there's a chance to acquire TVB, then Tungling Hi-Tech will definitely want to do so. However, Tungling Hi-Tech can't use its own name, so it will probably have to use Cyberport as a front.

The TV station in Hong Kong must have been acquired by Hong Kong Company, right?
I ask you, is there any company in Hong Kong with a stronger Hong Kong heritage than Cyberport, which is currently the second largest company by market capitalization in Hong Kong? Who dares to say that Cyberport is not a Hong Kong company?

Before the media even reported on Li Dongling's arrival in the port city, the news spread like wildfire, and phone calls and invitations to the philanthropist Li for the banquet began to pour in.

However, Li Dongling also planned to hold a banquet to announce to the entire city that the philanthropist Li had returned and that another big operation was about to begin...

Those Hong Kong tycoons, Southeast Asian families, and investment companies that want to ride the coattails of the Hong Kong Future Industry Fund and China.com should prepare their Hong Kong dollars and chips and wait for Mr. Li to make his selection!
However, the arrival of Li Dongling brought mixed feelings. Many people felt that a chance to make a fortune had come, while others felt uneasy about it.

Especially after Li Dongling's words at the airport were leaked, some people felt even worse than if they had swallowed a fly.

……

"What does he want to do?"

"Since when did Orange Telecom become so entitled to point fingers?"

"Orange Telecom is a British company, how could they possibly extend their reach there?"

Inside the fortified villa of the Li family in the Yangtze River, Li Zekai, who rushed back after hearing the news, spoke with great dissatisfaction to someone who had broken through his defenses.

Orange Telecom is likely the most important deal in the history of the Lee family of Cheung Kong, involving hundreds of billions or even trillions of Hong Kong dollars.

The entire Li family of the Yangtze River knew how important this deal was, but now it was at risk of being ruined by the philanthropist Li, which was something the Li family of the Yangtze River could not tolerate.

"That's a really clever tactic!"

"The younger generation surpasses the older generation; you have to admit it!"

Mr. Li, the owner of Changjiang, showed no signs of anxiety and remained calm. He simply sighed, lamenting that Mr. Li's move was like a sword strike he had made three years ago, now hitting the Li family three years later.

(End of this chapter)