Entertainment mogul: Starting his business with the internet

Chapter 483 Suitable for Carrying

In the afternoon, sunlight streamed through the huge floor-to-ceiling windows of the CEO's office on the top floor of the technology building, bathing the interior in a clear and bright light.

Zhang Yong sat upright behind his large desk, his gaze fixed on the computer screen, on the latest updates from the official Weibo account of the "China Government Website".

The blog post is concise and to the point: [my country's GDP growth target for this year: 7.5%!]

The release of this indicator every March is a routine event, but this year it was made all the more special by the accompanying carefully designed promotional poster.

In the background of the picture is a thriving modern city skyline under a clear blue sky.

In the most prominent position at the center of the image, standing majestically as a backdrop to national economic confidence, is the headquarters building of Tengda Technology Group.

Zhang Yong's gaze lingered on the picture for a long time, and he understood.

All of this stemmed from Chairman Song Ci's groundbreaking "Internet+" proposal at the national conference.

The proposal goes beyond the scope of enterprises themselves, and for the first time systematically elaborates on how to use Internet technology to fully empower traditional industries such as manufacturing, agriculture, and services, improve total factor productivity, and build a new engine for the national economy.

The proposal caused a huge sensation and heated discussion in academic, business and even political circles as soon as it was announced.

The government's choice of the Tengda Technology Building as the "image representative" of the national economic goals on its official website at this moment speaks volumes.

This is not only an affirmation of Tenda Technology's leading position in the industry, but also a strong recognition and endorsement of the "Internet+" strategic direction.

The nation's aspirations for economic development are concretely projected onto this building, which symbolizes innovation and the future of technology.

A surge of pride welled up, but so did a heavy burden of pressure. This image is a silent test paper.

Tenda's rise to the center stage signifies that its strategy must succeed and genuinely contribute to the country achieving or even exceeding the 7.5% target.

This is no longer just about the company's own business development, but also carries a mission at the national strategic level.

Success brings prosperity and glory to the nation; failure turns today's praise into tomorrow's ridicule.

How should resources be allocated? How should technology be disseminated? How should integration with traditional industries be facilitated? Every question is crucial to the final outcome.

Lost in thought, Zhang Yong glanced at the time in the corner of the screen and saw it had jumped to 2:15 PM. He closed his laptop, picked up the white porcelain teacup on the table, and got up to go downstairs for a meeting.

Upon entering the conference room, all the attendees on both sides of the long table were already present.

He nodded to several key executives, walked straight to the head seat, and ordered, "Let's begin."

Jiang Tiantian, Director of the General Office of the Group, then announced loudly: "Good afternoon, Presidents. We are now convening the monthly meeting of senior executives of the Group."

As Chairman Song is still in Beijing attending the national conference, this meeting will be chaired by CEO Zhang.

Zhang Yong calmly scanned everyone in the conference room and went straight to the point: "Today the government announced the 2013 economic growth target, as everyone has seen."

The promotional image uses our technology building as the background!

The meeting room was completely silent; everyone held their breath and listened intently.

"This is an unparalleled honor bestowed upon Tenda by the nation, and a recognition of Chairman Song's forward-looking 'Internet+' strategy."

Zhang Yong paused, his tone slightly somber, "But it is also a weighty responsibility!"

Chairman Song also shared it on WeChat Moments, simply commenting: "This building has a nice design, suitable for carrying." Carry what? I think everyone here knows the answer.

The executives present nodded in agreement, their expressions solemn.

They all pay close attention to the chairman's activities and the subsequent impact of the proposals, and know that from today onwards, the group's development direction is not only related to its own profits and losses, but also closely linked to "using the Internet to empower the entire national economy".

Zhang Yong looked at the head of human resources: "Zhou Yu, Chairman Song and I spoke on the phone at noon. He demanded that the group respond to the national call to 'stabilize growth and ensure employment' as soon as possible."

I have decided to immediately launch the largest spring campus recruitment drive in the company's history, creating 5000 new job opportunities.

You will take the lead and require all departments and subsidiaries to submit detailed staffing needs within two days, with the Human Resources Department responsible for unified planning and execution of recruitment.

Be fast, be accurate, and demonstrate Tenda's efficiency and social responsibility.

"Understood, Mr. Zhang. I will make arrangements immediately after the meeting." Zhou Yu quickly took notes and responded.

After giving his instructions, Zhang Yong turned to Chief Operating Officer Wang Jing beside him: "President Wang, this matter concerns the implementation of the group's strategy and its external image, and Chairman Song attaches great importance to it."

Please personally oversee the entire process, coordinate resources from all parties, ensure the recruitment work progresses efficiently, and align it with the "Internet+" expansion plans of each business line.

Wang Jing immediately nodded solemnly: "Don't worry, Mr. Zhang, I know what's important. I will personally follow up to ensure it is implemented."

The routine meeting proceeded smoothly, with several department heads giving concise reports on their work and raising some resource coordination needs, making it extremely efficient.

When it was time for Shen Boyang, the president of Today's Choice, to report, he said urgently, "President Zhang, there is an emergency that I must report."

The food delivery market is currently fiercely competitive. Baidu, Meituan, and Ele.me, which is backed by Alibaba, seem to have formed a tacit agreement to encircle and suppress us.

After saying this, he quickly pulled up the prepared data projection: "Baidu Waimai is concentrating all its resources to focus on the capital market; Ele.me is firmly rooted in its home base of Jiangsu, Zhejiang and Shanghai, not giving up an inch of ground."

Meituan, on the other hand, is the most aggressive, engaging in direct competition with us in major provincial capitals across the country, and has invested heavily in this area.

This targeted, regional offensive clearly indicates that the three parties have reached some kind of temporary agreement, intending to jointly contain us first.

Zhang Yong squinted, fully aware of the situation in the food delivery industry; it was nothing more than an old-fashioned strategy of "alliance."

Faced with Tengda, their strongest common enemy, former rivals who had clashed with each other temporarily united in order to survive.

"They are under great financial pressure. What is the status of our subsidies?"

A hint of embarrassment flashed across Shen Boyang's face: "President Zhang, the 30 million yuan special subsidy that the group approved for us at the end of January has been used up. We need to apply to the group for further financial support."

"Thirty million, all used up?" Zhang Yong asked incredulously, and a suppressed murmur immediately filled the conference room.

Burning through 30 million in just over a month, without any decisive change in the market landscape, the speed at which this money was being burned shocked the executives present.

Sensing the doubts of the crowd, Shen Boyang hurriedly explained, "President Zhang, distinguished presidents, please let me explain. We're spending our money efficiently!"

With WeChat's precise traffic entry point, a more advanced intelligent order dispatch algorithm, and a self-built, highly efficient rider team, the average subsidy cost per order is only about half that of Baidu and Meituan.

We invested 30 million, but to maintain their market share, they were forced to invest far more than us, estimated to be over 60 million.

Zhang Yong composed himself and pressed for key metrics: "What is the current market share?"

Shen Boyang immediately replied: "According to the latest monitoring data, the proportion of selected products today is 46%, maintaining the first place."

Baidu (22%) and Meituan (20%) ranked second and third respectively. Ele.me had approximately 10%, while other smaller platforms were negligible.

Upon hearing the data, Zhang Yong felt a sense of unease about Meituan.

This company has risen from behind and is showing great momentum. At this rate of growth, it is only a matter of time before it surpasses Baidu to become the second largest player in the industry. No wonder the chairman has repeatedly regarded it as a major threat internally.

After a moment's thought, he decisively instructed: "President Shen, I'll approve another 50 million for you. The subsidies can't stop; when it's time to fight, we must fight decisively and without hesitation."

Shen Boyang was overjoyed upon hearing this, as the money was enough to support him in another two months of intense competition. However, Zhang Yong changed the subject: "However, even if the group can afford to subsidize it, fighting three opponents alone is a poor strategy; the cost is too high."

We must concentrate our firepower and prioritize taking down one of them to break their alliance. Mr. Shen, in your assessment, which of these three is the weakest and most likely to be eliminated first?

Shen Boyang answered almost without hesitation: "Baidu Waimai!"

This answer surprised many, including Zhang Yong. Baidu is a powerful company with decisive investments, and currently holds the second-largest market share. How could it be the weakest?

Seeing everyone's confusion, Shen Boyang gave a detailed analysis: "Baidu is all bark and no bite."

Their current market share is almost entirely built up by massive subsidies regardless of cost, with the average subsidy per order being more than twice that of us!
Even so, Meituan was still rapidly eroding its market share. Meituan has extremely strong execution capabilities, and its ground sales team is incredibly aggressive.

Although Ele.me currently ranks fourth in market share, it is backed by Alibaba, has a secure cash flow, and is very resilient.

In contrast, Baidu's core business, search, is facing enormous challenges. O2O is not a core strategy, and its determination and sustainability in investing in it are questionable.

If the subsidies fall short of expectations or pressure increases at the group level, they are most likely to be the first to scale back or even abandon the program.

After listening, Zhang Yong quickly weighed the pros and cons. Shen Boyang's analysis hit the nail on the head; attacking the weakest link is often the fastest way to break an alliance.

He immediately made the decision: "Great! Let's concentrate our firepower and focus our efforts on cracking down on Baidu Waimai!"

Keep fighting until the other side can't take it anymore and voluntarily withdraws from the competition, or turns to entangle themselves with Meituan and Ele.me!

This decisive strategic decision left some of the high-ranking officials present slightly bewildered.

For a long time, the company's overall strategic direction has been almost entirely determined, planned, and ultimately decided by Chairman Song Ci.

CEO Zhang Yong's success is largely attributed to his strong operational and execution capabilities in bringing strategies to fruition.

With Song Ci absent at this moment, Zhang Yong's sharp judgment and strategic vision serve as a reminder to everyone.

This usually diligent, pragmatic, and somewhat reserved CEO is also one of the founders of Tenda. His vision and decisiveness have never been absent, but they are often overshadowed by the more dazzling light of Song poetry.

COO Wang Jing took in everyone's expressions, her heart filled with mixed emotions.

The three core decision-makers of Tengda have a clear division of labor: Song Ci is the navigator who looks to the future and draws up blueprints.

Zhang Yong is the captain who ensures the efficient operation of every part of the giant ship; while she is the chief mate responsible for supervising the execution and checking for omissions and deficiencies.

The clear distinction between different roles on a daily basis keeps the company running smoothly, but it can also make people overlook the fact that the captain himself also possesses the courage and wisdom to determine the course.

The executive meeting of Tenda Technology Group lasted for several hours, until sunset, before it finally ended in an orderly manner.

At the same moment, the solemn Great Hall of the People had just adjourned, and delegates poured out from all the exits.

As Song Ci walked slowly out with the crowd, he was still reflecting on the discussions about economic transformation that had taken place at the meeting that day.

Just then, a deep, gentle male voice with a Sichuan accent came from beside him: "Chairman Song, your suggestion today on leveraging 'Internet+' to empower the national economy was truly excellent!"

Following the sound, Song Ci saw a kind-faced elder smiling at him. He immediately recognized him as Liu Yonghao, a legendary figure in China's private economy and the founder of New Hope Group.

"Mr. Liu, you're too kind." Song Ci stopped and shook hands with him humbly. "These are just some immature and shallow opinions. I'm just showing off my limited skills in front of you seniors."

Liu Yonghao laughed heartily and waved his hand, saying, "Chairman Song is too modest. Your suggestions are insightful, forward-looking, and highly feasible. I heard that many delegates and ministerial comrades were discussing them after the meeting."

In his concluding remarks, the leader specifically mentioned encouraging this kind of innovative thinking, and those of us in traditional industries have also benefited greatly from it.

The two exchanged a few pleasantries about the conference agenda. Song Ci's heart skipped a beat; she had been planning to visit Liu Yonghao recently to discuss important matters, and this unexpected encounter was truly a stroke of luck.

He never liked procrastination, so he said, "Mr. Liu, it's better to meet by chance than by invitation. There's something I'd like to discuss with you."

Liu Yonghao paused slightly, then showed great interest: "Oh? Chairman Song, please go on." The two slowed their pace and walked and talked along the corridor outside the Great Hall of the People.

Song Ci got straight to the point: "To be honest, Mr. Liu, Tengda is planning to take the lead in applying to establish a private bank."

Upon hearing this, a glint of light flashed in Liu Yonghao's eyes.

He is not only a giant in the agricultural and animal husbandry industry, but also one of the founding shareholders of China Minsheng Bank, the first private bank in China, and served as its vice chairman for a long time. He has a deep affection for and understanding of the banking industry.

He immediately pressed further: "A private bank? That's no small matter. What specific plans does Chairman Song have?"

Song Ci further explained: "Yes. But this will be a very different kind of bank; it will be a purely internet bank."

It has no physical branches; all deposit, loan, payment, and settlement transactions are completed through an online platform.

"Relying on your WeChat Pay?" Liu Yonghao is by no means a traditional entrepreneur who is stuck in the past. He has always paid close attention to cutting-edge technologies and new business models and immediately grasped the key point.

"WeChat and its payment ecosystem will be one of the core carriers and traffic entrances." Song Ci nodded and then elaborated on his idea.

"This bank will leverage internet technology to provide more convenient and efficient inclusive financial services to individual consumers and micro-business owners who are not adequately covered by traditional financial services."

Liu Yonghao, a true expert, immediately thought of the key question: "Chairman Song, did you come to see me today because you want New Hope Group to also participate in the investment?"

Knowing that regulations impose strict restrictions on the shareholding ratio of a single shareholder in private banks, Tengda inevitably needs to find high-quality shareholders to jointly initiate the project.

Song Ci readily admitted: "That is exactly what I meant. New Hope Group is a leading enterprise in China's agricultural industry, possessing a deep industrial foundation and a vast upstream and downstream network."

A key strategic direction for our planned internet bank in the future is to develop agricultural assistance businesses such as agricultural loans and supply chain finance.

This aligns perfectly with New Hope Group's development strategy, allowing us to create a powerful synergy.

For this "MYbank" that is still in the blueprint stage, Songci has a clear positioning: focusing on personal consumption and microfinance.

Once Tenda breaks through first, Alibaba Group will inevitably follow suit quickly, establishing another internet bank based on the Taobao and Tmall ecosystem, primarily serving the massive number of small and micro enterprises on the platform.

Beyond individuals and micro and small enterprises, the vast rural and agricultural markets represent a fertile ground with enormous potential that urgently needs the nourishment of financial resources.

Promoting inclusive finance and supporting agricultural development is not only the direction of national policy, but also one of the real values ​​that Song Ci hopes to create for society.

Bringing in Liu Yonghao and New Hope Group is undoubtedly the best strategic choice to tap into this blue ocean market.

After a moment's thought, Liu Yonghao, a seasoned businessman with decades of experience and keen insight, quickly weighed the pros and cons in just a few minutes of conversation.

Although internet banking is a new phenomenon, the direction it represents is undeniable. Partnering with the booming Tenda Group to enter the promising rural finance sector is also a strategic opportunity for New Hope Group.

He raised his head, a deeper smile spreading across his face, his tone inquisitive and sincere: "Chairman Song, internet banking is indeed a novel concept, and I am very interested in it."

However, there are some specific operational models and risk control details that this old man still needs to learn. I wonder if Chairman Song could enlighten me?

Song Ci readily agreed, glancing at the time: "Of course. Mr. Liu, it's getting late. There's a nice, quiet, and elegant restaurant nearby. Why don't we eat and chat?"

"Haha, okay! Then I'll have to trouble Chairman Song." Liu Yonghao agreed with a smile.

Two business leaders, representing China's old and new economic models, walked side by side toward the setting sun.

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(End of this chapter)