Rebirth in Hong Kong: From Dessert Shop to Industrial Empire

Chapter 30 The Starry Sea of ​​the Dessert Shop (Please add to your favorites, vote for monthly tickets, recommend it, and keep reading)

The following day, in Causeway Bay, at Chan Kee Dessert Shop.

Inside the brand-new, bright glass counter, the familiar red bean paste, sesame paste, ginger milk curd, and other regular sweet soups no longer occupy the center position, but rather two rows of crystal-clear glass bowls.

On the left is a pure white and delicate coconut milk sago pudding, with the floating, translucent sago pearls and bright red goji berries resembling pearls and agates from the seabed.

On the right is a dazzling golden mango pomelo sago dessert, with plump grapefruit pieces and coconut milk drizzled on top, resembling a work of art.

Above the counter, a striking red sign with gold lettering reads: "Chen's Secret Recipe: Hong Kong Island's First Coconut Sago Pudding, HK$2.8; Mango Pomelo Sago, HK$3.5."

This price was definitely considered "luxury" on the streets of Causeway Bay in 1978.

The lunch rush is approaching, and the streets are becoming increasingly crowded.

A young woman in a stylish dress and carrying a small handbag passed by, her eyes drawn to the exquisite mango pomelo sago dessert in the counter.

"Huh? Mango Pomelo Sago? What a unique name, and it looks so beautiful!" She walked closer curiously.

Shop assistant Lu Shanshan immediately greeted her warmly: "Miss, you have a good eye! This is our Chen Kee's newest dessert, a first in Hong Kong, Mango Pomelo Sago! It's made with top-quality Luzon mangoes, imported grapefruit pulp, and Thai coconut milk, with a rich flavor, sweet and sour, perfect for this weather! Want to try a bowl?"

"Three and a half dollars?" The young woman frowned slightly upon seeing the price, clearly hesitating for a moment.

A white-collar man in a suit with a briefcase tucked under his arm also stopped and peered over: "Mango pomelo sago? The name is interesting, but the price... it's much more expensive than other sweet soups."

As expected, doubts arose.

Lu Shanshan's smile remained unchanged, and her voice was clear and melodious: "Sir and Madam, you get what you pay for! Look at the ingredients: the sweetness of fresh mango puree, the slightly sour and juicy grapefruit pulp, the smoothness of coconut milk, plus the chewy sago pearls. It's full of layers of flavor. You definitely can't find such an authentic taste anywhere else!"

Many office workers who have tried it say it's definitely worth the money!

As she spoke, she deftly scooped a small spoonful of mango pomelo sago from the sample bowl with a delicate little spoon and handed it to the young lady: "Miss, you can try it first. If you don't like it, you don't have to buy it!"

Golden mango puree mixed with grapefruit pieces and sago pearls exudes an enticing complex fruity aroma.

The young woman hesitated for a moment, then took the small spoon and gently put it into her mouth.

Instantly, her eyes lit up!

"Wow!" The rich, sweet mango flavor explodes in your mouth, followed by the refreshing tartness of the bursting grapefruit segments, perfectly balancing the sweetness. The chewy sago pearls add to the enjoyment of chewing, and finally, the smooth and warm coconut milk finishes the meal.

The flavors are distinct, the sweet and sour balance is just right, and the cool texture soothes the midday heat.

"So delicious!" The young woman's face lit up with a delighted smile, and without hesitation, she said to Lü Shanshan, "Give me a bowl! No, two bowls to go! I'll take them back for my colleagues to try!"

"Give me a bowl too!" The man in the suit next to him was also intrigued by this reaction. "I want to see if it's worth three and a half dollars!"

With the first person to try it, coupled with the staff's professional introduction and tasting strategy, the hesitant crowd began to waver.

Especially for white-collar workers, young women, and tourists who pursue fashion and pay attention to taste and quality, the price of three and a half dollars seems to carry the labels of "high-end" and "worth trying" after seeing the exquisite appearance and hearing words such as "first in Hong Kong" and "top imported fruit".

By 3 p.m., feedback from the five trial sales points in Causeway Bay, Tsim Sha Tsui, and Central had been collected and sent to the Kwun Tong Food Factory.

Holding the phone logbook, Gao Zhenhai, with a look of relief and excitement on his face, reported to Chen Bingwen:

"Brother Wen! It's done! It really is done!"

"At the Causeway Bay branch, we sold 265 bowls of mango pomelo sago and 243 bowls of coconut sago! At the Tsim Sha Tsui branch, we sold 178 bowls of mango pomelo sago and 252 bowls of coconut sago! The Central branch sold a little less, but still 195 and 128 bowls respectively! Several locations have requested emergency restocking!"

His voice was somewhat excited: "Many of those who bought it bought two or three bowls at a time to take away! The staff said that almost everyone who tried it bought it!"

At first, they thought it was expensive, but after eating there, they all said it was worth it!

Chen Bingwen looked at the numbers in the notebook and a relieved smile appeared on his face.

The new product achieved this sales volume in just a few hours after its launch.

The first step was a success!

The high-end sweet soup strategy has initially gained recognition from the target market.

The mango pomelo sago at HK$3.50 and the coconut sago at HK$2.80 have successfully carved out a niche in Hong Kong Island's upscale consumer district.

"Ah Hai, inform Zhong Qiang to do everything possible to ensure the supply of the new products, and not to relax the quality in the slightest! Also," Chen Bingwen's eyes flashed with a sharp light, "have Lü Shanshan and the others keep an eye on collecting customer feedback, especially suggestions on taste and sweetness."

We need to continue optimizing it.

He knew that the high-end market had a very low tolerance for flaws; once a reputation was established, it was worth a fortune, but it could collapse in an instant.

Just then, the phone rang again.

Gao Zhenhai picked up the phone, and as was his habitual act of taking out a pen to record the sales figures, he realized that he was looking for Chen Bingwen.

"Mr. Chen, hello, I am Vincent Fang from Dexin."

Fang Wenshan's calm yet slightly joyful voice came from the other end of the phone, "Congratulations! The registration procedures for Chenji Food Co., Ltd. have been completed. The relevant qualification documents, trademark registration acceptance notice, and most importantly, the first draft of the asset appraisal report are all ready."

Is today convenient for you? I'll deliver it to you personally.

"That's great! Thank you so much, Accountant Fang!" Chen Bingwen perked up. "I'll be waiting for you at the Kwun Tong factory."

"Okay, see you in an hour." Fang Wenshan hung up the phone decisively.

Less than an hour later, a black Crown sedan came to a steady stop in front of the Kwun Tong Food Factory.

Fang Wenshan, carrying a heavy briefcase, walked in with a young assistant, his steps relaxed.

"Accountant Fang, welcome, welcome! It's kind of you to come all this way." Chen Bingwen was already waiting at the door, extending his hand warmly.

"Mr. Chen, congratulations! Chenji Food Co., Ltd. is officially setting sail today!" Fang Wenshan smiled broadly and shook hands firmly with Chen Bingwen. His sharp eyes caught the composure in Chen Bingwen that was beyond his years, and he nodded to himself.

This young man seems to be transforming every time I meet him.

"Accountant Fang, please come in." Chen Bingwen led Fang Wenshan and his party to the Kwun Tong factory office.

Inside the office, Gao Zhenhai, Zhong Qiang, and others were already standing and waiting. Upon seeing Fang Wenshan, they all greeted him respectfully.

Fang Wenshan nodded slightly, his gaze sweeping over the somewhat simple but neat and orderly office, finally landing on the Hong Kong Island map on the wall that marked the locations of all of Chen Kee's factories, distribution points and standard stores, and he couldn't help but nod in approval.

After the guests and hosts were seated, Vincent Fang didn't engage in much small talk and went straight to the point.

He gestured to his assistant to open the file box and take out a series of beautifully bound, thick documents.

"Mr. Chen, congratulations on the official establishment of your company! These are the complete set of registration documents, articles of association, shareholder register, and most importantly, the Asset Appraisal Report issued by Dexin Accounting Firm for Chen Ji Food Co., Ltd."

Fang Wenshan handed the thickest report to Chen Bingwen with both hands.

Chen Bingwen accepted it solemnly.

The report cover is stamped with Dexin's logo and the words "Asset Appraisal Report of Chenji Food Co., Ltd."

He turned to the title page, and what came into view was a clear summary of data:
1. Fixed Assets: Cheung Sha Wan Food Factory (including land use rights and buildings on the site) appraised value: HK$320,000;

The assessed value of the Kwun Tong food factory and R&D center warehouse (including land use rights and buildings) is HK$930,000; production equipment (both Cheung Sha Wan and Kwun Tong factories)
Transportation vehicles (mobile food trucks, delivery tricycles, etc.)
2. Intangible assets

The assessed value of the "Chen Ji" series trademark rights (registration has been completed for all categories of food and beverages) is HK$120,000.

Core syrup recipe
Preliminary total net assets: HK$1.83 million
One million eight hundred and thirty thousand!
Chen Bingwen immediately recognized that Fang Wenshan was using the replacement cost method for valuation.

Otherwise, it would be impossible to have so many assets.

His profits from Wharf Holdings included HK$960,000 from purchasing a factory and HK$210,000 from purchasing Golden Garden, leaving him with HK$1,310,000.

Even after paying off the Wing Lung Bank loan, there would still be about one million left.

With this, plus the HK$1.83 million valuation of Chen Ji Foods, his assets are now close to HK$3 million.

Although what is truly usable is the remaining HK$1.3 million from the Wharf Holdings stock proceeds.

But in just a few months, he went from a dessert shop on the verge of bankruptcy in Sham Shui Po to having assets of nearly three million dollars. Only he knows the hardships he went through.

"Accountant Fang, Dexin's professionalism and efficiency are admirable. This report is of great significance."

Chen Bingwen closed the report and sincerely thanked Fang Wenshan.

This report is the first solid cornerstone for Chenji Foods to establish itself in the capital market.

"Mr. Chen, you flatter me. It is our duty. It is an honor for Dexin to be involved in Chen's growth."

Fang Wenshan smiled, but his tone naturally shifted, becoming more serious, and his eyes held a deeper meaning that went beyond ordinary business cooperation. "Mr. Chen, the company has been established and officially launched, marking your first step into the business world."

With Chenji's current asset size, clear business model, and strong cash flow, and more importantly, with a visionary and decisive leader like yourself, its future development potential is limitless.

He leaned forward slightly, lowered his voice, but spoke clearly: "Dexin is not just an accounting firm. We have extensive experience and a wide network of contacts in areas such as corporate financial consulting, financing advisory, and IPO preparation."

Whether Chenji Foods needs further equity or debt financing to support its rapid expansion, or aims for longer-term goals such as entering the capital market and going public, its future direction remains uncertain.

Fang Wenshan paused deliberately, staring intently at Chen Bingwen, as if confirming the other's reaction.

Clearly, this astute accountant saw in the valuation process the enormous potential of Chen Ji to far exceed its current book value.

Fang Wenshan's words echoed in the somewhat simple office, carrying the seductive power unique to senior consultants, as if they could glimpse the future.

However, Chen Bingwen simply sat quietly.

The valuation report worth 1.83 million was not like a key to the palace of wealth in his hands, but rather a book whose ending he had already read.

He gently closed the report, his face showing no ripples from the mention of going public, but rather a calm that bordered on scrutiny.

Fang Wenshan keenly noticed the profound and composed demeanor on Chen Bingwen's face that was beyond his years, a reaction that should not be expected from an entrepreneur who was just beginning to explore the concept of going public.

“Accountant Fang,” Chen Bingwen’s voice rang out, calm and clear, carrying a rationality detached from the noise that he had acquired in investment bank conference rooms in his previous life, “Thank you for Dexin’s high regard and for your great expectations for the future value of Chenji.”

He paused slightly, looking directly at Fang Wenshan: "The capital market, or going public, is just a natural tool for any company seeking long-term development, a means of raising funds and revaluing its value in stages."

It's important, but it's not the end.

Fang Wenshan's smile froze slightly.

Chen Bingwen's reaction was excessively calm, and his perspective was excessively detached.

This doesn't seem like an entrepreneur; it's more like a chess player holding a chess manual and overlooking the entire game.

“I agree with your assessment of Chen Ji’s current value.” Chen Bingwen picked up the report, his tone professional and confident. “This assessment, based on assets, brand, cash flow, and growth potential, is logically clear and based on solid data.”

This clearly demonstrates that Chenji Foods has initially established a solid foundation for telling a compelling story in the capital market.

“However,” he changed the subject, his tone taking on a sharp edge reminiscent of an investment banking elite from his previous life analyzing projects, “the timing for going public now is not right, and more importantly, the goals are too narrow.”

“Narrow-minded?” Fang Wenshan repeated subconsciously, his brows furrowing slightly. This was the first time in his many years in the industry that he had heard an entrepreneur use this word to describe the goal of going public.

“Not bad.” Chen Bingwen leaned forward slightly, his aura instantly becoming more imposing and insightful. “What can going public bring?”
It boils down to three things: financing, brand endorsement, and shareholder exit channels.

Ultimately, all three serve a more core objective: to build an unshakeable business ecosystem and a sustainable competitive advantage.

He turned around and traced his finger across the Hong Kong Island map on the wall, from the Kwun Tong factory to the Causeway Bay store, and then to the Hong Kong Island area, which has not yet been fully developed: "What is Chan Kee's core advantage at present?"
It is a unique model of central kitchen + standardized stores + mobile outlets, a high-end dessert matrix that is the first of its kind in Hong Kong Island with the ultimate taste, and it is also breaking through the technical barriers of bottled sugar water!
"The funds raised from the IPO should be used to strengthen and amplify these core advantages, not just for the sake of going public!" Chen Bingwen said firmly. "What should we do with the financing? It's not simply to open more stores; that's tactical expansion."

It is by controlling the lifeline, building our own cold chain logistics network, controlling the origin of core raw materials, gaining control of the supply chain, and continuously iterating our core products that we have constructed a foundation that others cannot learn from or destroy!

Fang Wenshan's composure vanished completely. His hand, holding the teacup, froze in mid-air, his knuckles unconsciously tightening slightly.

Having worked in the industry for over twenty years, he had heard countless bosses' grand ambitions, but no one had ever articulated the theory of capital as a tool and the fundamental strategy of business so coldly yet passionately, hitting the core of the matter.

Listening to Chen Bingwen's calm yet weighty analysis, Fang Wenshan unconsciously straightened his back, as if he were seeing the young man sitting opposite him for the first time.

He was no longer a lucky one who needed his enlightenment, but a chess player who held the chess manual in his hand and whose vision had already pierced through the next ten years.

Chen Bingwen's gaze seemed to pierce through the office in front of him, and he saw the prototype of a huge food empire led by Chen Ji: "Only when these real business barriers are built, and when Chen Ji products are as popular as soft drinks and Coca-Cola, will they be ready to be built."

When our high-end desserts become a cultural symbol of Hong Kong Island and even Southeast Asia, going public will be the natural step and the one that maximizes our value!
The IPOs at that time weren't about solving survival issues or cashing out; they were about leveraging resources a hundredfold to conduct cross-regional mergers and acquisitions, integrate upstream and downstream businesses, and even define industry standards!

The office was silent.

Gao Zhenhai and Zhong Qiang only vaguely understood what Chen Bingwen was saying, but they were overwhelmed by the grand and resolute tone in his words, and felt their blood surging.

Fang Wenshan completely abandoned his initial sense of superiority as a "guide," replacing it with a solemnity and admiration when facing a real chess player.

This young man is hardly some lucky nobody who needs his enlightenment.
He clearly possesses a clearer, broader, and more fundamental business strategic vision than the vast majority of CEOs of listed companies!

He views going public as a tool rather than a goal. He pursues far more than the empty fame and short-term wealth brought by a stock code. Instead, he aims to build a food empire that covers the entire industry chain, from raw materials to R&D, from production to distribution, and from stores to bottling, and that has absolute say in the industry!
Chen Bingwen picked up his teacup, took a sip, and his sharp and imposing aura subsided slightly, but the light in his eyes remained bright: "Therefore, Accountant Fang, Dexin is an important financial advisory partner of ours."

The core task at this stage should be to assist us in completing strategic preparations such as optimizing the financing structure, developing talent, and selecting strategic investors, so as to lay a solid foundation for a real capital explosion in the future.

Now, please help us win this 'foundational battle' that will determine our future.

Fang Wenshan took a deep breath and slowly stood up. His face no longer held any hint of probing or guidance, only sincere respect and a solemn sense of witnessing the beginning of a great undertaking.

“Mr. Chen,” Fang Wenshan extended his hand, his tone more serious than ever before, “your words today have been a revelation to me.”

Your understanding of the essence of business, your use of capital tools, and your pursuit of long-term value far exceed my expectations.

It is an honor for Dexin to participate in this 'battle of the foundations'.

Your strategic blueprint is crystal clear. Dexin will mobilize its most elite forces and go all out to assist Chenji Foods in building an unshakeable competitive advantage!

Their hands clasped tightly once again.

This is not just a business collaboration, but also a deep recognition and alliance under a grand vision.

With his vision ahead of his time and the financial wisdom accumulated in his previous life, Chen Bingwen completely impressed this experienced financial advisor, and also set the future of Chen Ji Foods in a future that far exceeds that of a dessert shop, or even a typical listed company.

　Thank you all for your support!
　　
　
(End of this chapter)