Chapter 1149: Always imitate

In Yan Wenjie's temporary residence in Nancuiyuan, behind the main building is an exquisite square courtyard. It is said to be a garden. In fact, it is an aluminum frame and tempered glass plate to form an open space. The ceiling is a sky blue curved glass plate, which can be opened and closed according to the weather. In addition to the back wall of the main building, the other three sides are transparent glass plates and imitation steel and aluminum frames. There is a hedge blocked by one person and a half-high person on the outside. There is no cover to the lake in the north. You can see the beauty of Yangui Lake and the green scenery of Yangui Mountain from a distance. There is a pool three or four meters square in the corner of the wall, with koi carp and half-height stone steps next to it. Water flows out and pours into the pool, forming a miniature artificial waterfall. The ground is covered with white garden stones with yellow water ripples, and several floating soils are planted with ornamental plants such as jade beans and begonia...

When Wang Haisu was designing and building this villa, he was envious of the backyard. Yan Wenjie came over and took a look and said, "It's time here." This villa became Yan Wenjie's temporary residence in Jianye.

It’s not a question of how much it costs. Wang Haisu knows that this villa should not belong to him.

Looking at Yan Wenjie sitting on the bench, his eyes seemed to fall on the shimmering lake outside the window, Wang Haisu thought to himself: He should be looking at the lights on the other side of the lake, right?

The uneven and scattered lights on the northeast corner of Yangui Lake that you can see here are mostly the lights of Yanyuan, Oak Garden, Youth Apartment, and Yandong Apartment - Behind the gorgeous lights is the sunshine of Kumhu.

The first thing Yan Wenjie said when he met Zhang Ke in Xuefu Lane was to say to him: "I think you will remember me." He sounded quite heroic at first, and I believe Yan Wenjie would never listen to others mention this in front of him anymore.

The first move of Hongxin Construction to participate in Donghai Province was to annex Jincheng Real Estate. With the cooperation of Xiejia and Jingdian Real Estate, Shanghai City has developed rapidly in recent years and has a great demand for commercial real estate. Hongxin Construction has successfully annexed Jincheng Real Estate... It has made more than 800 million in a single project, which is still a good performance that Hongxin Construction has never had before.

Even if Haisu Technology's stock price was cut in half and fell below 20 yuan per share, the profits behind Hongxin Investment and Jingdian Real Estate are still very considerable.

The average cost of targeted share issuances totaling 1 billion yuan was only 15 yuan per share, and there was still nearly 400 million yuan in profits; Hongxin Investment used nearly 600 million yuan to enter the secondary market to push the stock price of Haisu Technology to rise, and the stock price fell again and again, and there was still a floating profit of more than 300 million yuan at this time. When buying a shell, the cost was only tens of millions. Calculated the funds invested by Haisu Technology and 8818 before the backdoor acquisition was only 400 million yuan; although the obtained part of the legal person stocks cannot enter the securities market for circulation, the calculated market value is still a huge number as high as 3 billion yuan.

When he was on the Software Industrial Park project, Hu Zongqing occupied a dry stock in Haisu Technology. If Haisu Technology wants to go public through a backdoor listing, Hu Zongqing must withdraw. Wang Haisu does not know how much Jingdian and Hongxin paid Hu Zongqing behind the scenes.

Wang Haisu silently calculated in his mind that Hongxin and Jingdian's investment in Haisu Technology in the past two years should be about 2 billion, and the total market value of the equity they controlled was more than 5.2 billion. It cannot be considered a setback, but Wang Haisu saw a clear frustration in Yan Wenjie's eyes.

If you give up resistance and all existing plans cannot be implemented, it is a failure, right?

If this strict standard is required, Haisu Technology's operation will indeed fail.

The lower limit of the additional issuance plan approved by the board of directors, shareholders' meeting, and approved by the China Securities Regulatory Commission is 34 yuan per share. After Hongxin gave up resistance, the share price of Haisu Technology fell and broke through, and it had fallen below 20 yuan per share. If the stock price reversal within the five months left, the conditions for public issuance will be subject to a reversal unless the fundamental situation reverses.

"It seems that we need to manage Haisu Technology well..." Yan Wenjie stood up and lit a cigarette, looked at Wang Haisu again, and said nothing.

Wang Haisu knew very well what Yan Wenjie was going to say.

Everything was operated on the premise of public issuance, and only required Haisu Technology to expand its scale and strengthen its industry ranking in the shortest time. It was like applying stimulants to the human body, requiring the greatest explosive power in a short time, and it never considered the long-term development issues of the company.

It is impossible to issue additional additional issuance in a short period of time. Once the radical strategies like stimulants lose their effect, Haisu Technology will become extremely weak. Not to mention maintaining the current achievements, it is possible to return to its original form.

If the blitzkrieg does not work, we must change to a protracted war. On the one hand, we must ensure the safety of nearly 2 billion investment in Haisu Technology, and on the other hand, we must wait for the opportunity to reverse before making public additional issuances; at this time, we must decisively make fundamental adjustments to Haisu Technology, the software industry park, the Chuangyu Internet Cafe, and the 8818 e-commerce website business policies.

Wang Haisu knew that in Yan Wenjie's mind, he would not be the right candidate; perhaps Yan Wenjie needed someone to stand up and take on the responsibility of the continued decline in the stock price in front of shareholders, but he was the right candidate.

Wang Haisu knew that he had no room for struggle at all. The control of Haisu Technology was not in his hands, and he was just a false reputation as the president. He avoided Yan Wenjie's eyes and looked down at the tip of his leather shoes. He didn't know whether to take the initiative to resign, but thought in his heart that maybe it was not what he guessed.

"I think about it. Before re-formulating the business strategy, the management of Haisu Technology needs to adjust first. I will serve as chairman and Qi Jun as president. There should be no problem?" Yan Wenjie moved his eyes from Wang Haisu and directly discussed with Lin Xue. "The construction of Samsung's macro core has been temporarily slowed down. We can't even hurry up. The chain Internet cafe business and software industrial park are temporarily stable. The key is that 8818's business should be adjusted as soon as possible..."

Wang Haisu was very frustrated. Yan Wenjie seemed to have no concern about Haisu Technology's personnel adjustments at all. If he kicked it aside from a distance, even if he held about 1% of Haisu Technology's legal shares, it would be a waste.

Wang Haisu raised his head and wanted to win him a little. As soon as he looked up, Yan Wenjie looked over and said to him: "How about you come and assist Wen Xin in the chain Internet cafe affairs department?"

"Yes." Wang Haisu nodded, without the courage to refuse or fight for anything else, and did not say anything again.

Liu Qijun took out a stack of documents from his briefcase and said, "This is my consideration of some of the business below Haisu Technology these days. I hope it will inspire you..."

Today's matter was settled a few days ago. Wang Haisu thought to himself, looking up at Lin Xue, Lin Xue turned to glance at the lake outside the window, not knowing what she was thinking.

Wang Haisu took the document and since he was still in charge of the chain Internet cafe business, he started from this aspect.

Unicom Donghai Company has registered and established Unicom NetEase to develop chain Internet cafe business in Donghai, with great action. In addition to six large direct stores and developing franchisees, Unicom NetEase also recruited Jianye's existing small and medium-sized Internet cafe franchise. Since the opening of Unicom NetEase Xuefu Store in early May, Unicom NetEase has expanded rapidly, and the number of Internet cafes in Jianye has exceeded 20,000.

The number of total machine machines in Jianye Internet cafe industry reached 150,000, but in the same period last year, this figure was only 40% now.

Faced with the competition from small and medium-sized Internet cafes that sprouted like mushrooms after a rain and China Unicom, which also appeared as a giant, Chuangyu Network Cafes cannot guarantee the original Internet price and its profit margin has been greatly compressed. Although it can still maintain a high profit margin, it is far from expectations. To be precise, when acquiring Chuangyu Network Cafes, everyone here realized that the entry threshold for the Internet cafe industry was low and the competition in the future was fierce. The so-called expectations are just a trap to tempt small and medium-sized investors. But at this time, even one of their own feet was trapped in.

Chuangyu Internet Cafe originally hoped that Hu Zongqing could help urge the city to introduce policies as soon as possible to raise the entry threshold for the Internet cafe industry, and expelled some small and medium-sized Internet cafes that lack qualifications, limiting the competition in the Internet cafe industry. Unexpectedly, China Unicom Internet Garden made a quick step and expanded rapidly in the form of recruiting small and medium-sized Internet cafes.

Even if Jianye City now introduces strict Internet cafe industry rectification policies, it will help China Unicom to expand its scale, and Chuangyu Internet Cafe has limited benefits.

Liu Qijun's document proposed that Chuangyu Internet Cafe should suspend its previous high-cost expansion plan and consolidate its existing achievements, which is also a helpless move. Dongda Chuangyu has successfully ended from the chain Internet cafe industry with 300 million yuan in cash, and may be one of the biggest beneficiaries of this industry.

Compared with the software industry park and e-commerce, the chain Internet cafe business is not complicated. Wang Haisu has no big opinion on the matter. He just needs to not kick it away from the distance. Besides, he also proposed to acquire the chain Internet cafe business from Dongda Chuangyu.

Due to the limitations of the domestic industrial environment and without such great perseverance and investment from Kumho, the software business under Haisu Technology is quite limited, and this business is just to cooperate with Jingdian Real Estate in the name of the Software Industry Park to share profits in real estate development.

Jianye’s park is on the south bank of Yangui Lake. In recent years, the development of Yangui Lake area has been very rapid, making the Jianye Software Industrial Park a very superior geographical location and profitable from the development of commercial real estate. This is also the main reason why Haisu Technology has achieved good performance in the past two years. However, the parks in Jianye have almost been developed and there will be no big breakthrough in performance. In Kingsoft, Wenzhou’s two parks are both suburban counties far away from the city and have slow development and are not suitable for business immediately.

Not only can't hoard land with peace of mind, but also have to consider the pressure exerted by local governments. Wenzhou only agrees to share profits with the Yan family, and there is no need to worry about the land being taken back; but Kingsoft is not possible at all. From Xu Xueping, Liang Weifa, Tang Xueqian in Jiangnan Province, to Zhao Youlun in Jinshan City, his eyes are all staring at the Kingsoft Software Park. Even if he wants to play the edge, it is not possible. The development area within the specified time meets the standards promised at the time, and the Kingsoft Municipal Government will take back the land at any time.

Wang Haisu looked up at Yan Wenjie and others, thinking that they might have prepared themselves for Kingsoft Software Park to take it back?

The most important thing at the moment is to adjust the development strategy of e-commerce website 8818. 8818 is simply a bottomless pit to make money.

Due to Amazon and Ebay's successful example, e-commerce became a hot spot among the Internet economy hotspots in 1998 and 1999. 8818's e-commerce business was also regarded as the most important and core business asset of Haisu Technology to develop.

Since its founding 8818, Haisu Technology and Hongxin have injected a total of 600 million yuan, holding 70% and 30% of the shares respectively. After nearly two years of rapid development, they have become the largest e-commerce company in China with a market share of 60%.

Even if the market share is the first, the actual significance is not much. Due to the completely different differences between the developed countries in Europe and the United States, China's total e-commerce market in 1999 was less than 200 million yuan. On the other hand, the radical development and promotion strategy consumed a large amount of 8818 yuan in the past year. The initial 600 million yuan of funds was less than 160 million yuan. Even if the radical development and promotion strategy is now adjusted, even if the offline logistics and warehousing system built in the past year is no longer expanded, it will require a large amount of funds to be invested every year. The 160 million yuan of funds in the account may be able to support it until next year.

Looking back at this time, it might be a rare choice to accept Amazon's offer to acquire. After Haisu Technology refused, Amazon turned around to acquire Lianshang.com, the second largest domestic e-commerce market in the domestic e-commerce market at that time, for US$40 million. Although the Internet financial stock market crash broke out and Amazon's stock price fell a lot, the acquisition of Lianshang.com had been completed. Amazon's financial strength was sufficient. In mid-May, when the e-commerce website was hit hardest, it injected US$80 million into Lianshang.com to develop a complete offline logistics and warehousing system and began to promote on a large scale.

Seeing that Liu Qijun's report did not mention the adjustment of the 8818 e-commerce business development strategy in detail, Wang Haisu looked up at him, and then looked at Zhang Wenxin, CEO of 8818, who has been in charge of e-commerce business.

Zhang Wenxin raised his head at this time. He was born as a marketing director of Microsoft China. He habitually took a oil pen and sang it in his hand, saying: "If 8818 significantly reduces its existing promotion plan, its market share will likely surpass Lianshang.com by the end of the year... Zhuoyu's trends should actually attract our attention."

"Oh?" Yan Wenjie responded and looked at Zhang Wenxin.

Dongda Chuangyu invested in e-commerce Zhuoyu Network in 1998, but the investment was a bit too slim. Even if Quantun Online was introduced later, it only invested 4 million US dollars in total. Although the domestic e-commerce market ranks fourth, its market share is far from comparable to the ranking first and second 8818, Lianshang.com.

But behind Dongda Chuangyu is Kumho, just this is enough to attract enough attention - Yan Wenjie also attaches great importance to Zhuoyu.

The biggest capital operation in front of Zhuoyu is to re-invest Dongda Chuangyu. Quantun Online has a total of US$8 million in capital injection, but compared with Amazon's investment in Coupon Network, it is a bit slim.

Seeing Yan Wenjie, Lin Xue and others' eyes full of confusion, Zhang Wenxin knew that they did not understand enough about the characteristics of the Internet industry, and said: "It should be said that Zhuoyu should not be a threat to 8818, but Dongda Chuangyu, Quanteng Online and Zhuoyu have made significant adjustments to their Internet resources in the past month, and the industry is still very concerned. Quanteng Online is the number one Chinese portal website after all..."

"Oh, let's continue..." Yan Wenjie signaled Zhang Wenxin to continue speaking. He was always worried that Jinhu would stumble and destroy their good things. Although the good things had been lost half, Jinhu could not be careless.

"Dongda Chuangyu acquired Quantung Online's MICQ business with US$20 million and 6% equity, but last week, Zhuoyue.com created a brand new shopping channel on Quantung Online's portal, using Quantung Online as an e-commerce promotion platform - Zhuoyu.com only needs to pay Quantung Online an annual promotion fee of 8 million yuan..." Zhang Wenxin said.

"Ah, the promotion fee is so low? Yahoo was really a lion at the beginning!" Lin Xue said in surprise.

They once proposed a similar channel cooperation plan to Yahoo China, but Yahoo China Lion made a big statement, with a quotation of up to 30 million, accounting for 30% of the annual promotion cost of 8818. They had to choose to carry out regular promotion cooperation with Yahoo China.

"Quantong Online offers such a low price for Zhuoyu. On the one hand, the Internet bubble burst and the Internet value is being revaluated; on the other hand, Quantong Online is also a major shareholder of Zhuoyu. After two capital injections, Quantong Online holds 20% of Zhuoyu.com's equity," Zhang Wenxin explained that everything is controlled by Jinhu, the more resources it has, the cost control advantages that others cannot reach. This is not comparable to Haisu Technology. He did not make this clear, and said, "In addition to Quantong Online's channel cooperation, Zhuoyu.com made the largest business adjustment in early June, and created a shopping street website in addition to the boutique mall website. Zhuoyu's shopping street website imitated the Ebay e-commerce model, attracting individual investors to use the online platform provided by Zhuoyu.com to open online stores for Internet retail trade; at the same time, MICQ instant messaging software is placed in the website as a communication tool between online store operators and online shoppers..."

"Zhuoyu Shopping Street?" Although Lin Xue is not sure what the difference between Ebay model and Amazon model is, she can still imagine what the Ebay model looks like from the term "shop street".

"Maybe they think that the cost of developing offline logistics and storage systems is too high, adjusting business models, and focusing on building an Internet retail trade platform. Even if Zhuoyu still retains the online mall model, it still has obvious changes compared with the traditional Amazon model. The most obvious feature is that Shengxin Telecom has created an online mobile phone sales counter on Zhuoyu Mall. It is very likely that Zhuoyu will develop the Zhuoyu Mall website into an online sales platform for qualified dealers or channel merchants or even manufacturers, and develop the Zhuoyu Shopping Street website into an ordinary online store retail trade platform..."

"Zhuo Yu's movements are very big," Yan Wenjie said softly. He closed his eyes and thought carefully, and asked again, "Can you see what kind of fruit you have?"

"This is the adjustment that Zhuoyu only made last week. There is no effect at the moment. However, Quantun Online, a listed company in the US Nasdaq, is the main part of a series of adjustments to Internet resources. American investors are still welcome. As the Nasdaq index fluctuates violently and online stocks continue to decline, Quantun Online's stock price has rebounded slightly for five consecutive days..."

Yan Wenjie didn't care what American investors think, nor did he care about the ups and downs of Quantung Online's stock price. He knew that once Zhuoyu's business model was adjusted correctly, it meant that he could continuously obtain financial support from Kumho, which meant that Zhuoyu, which was still very inconspicuous, would also become a strong competitor of 8818 in the e-commerce field.

Of course, another idea flashed through his mind, can 8818 replicate Zhuoyu's business adjustment model?

Yan Wenjie looked at Liu Qijun and saw him leaning forward. He knew that he was also aware of this problem. Zhang Wenxin said so much, so he should have awareness of this aspect, right? Although Haisu Technology does not have so many direct resources, it can still find enough partners in China. The key is whether the business model adjusted by Zhuoyu is on a formal road?

"I think you can give it a try?" Liu Qijun said, "The current development model of 8818 must be adjusted. We are not as rich as Amazon. We must avoid head-on confrontation with Internet merchants. Wenxin said that Zhuoyu's newly developed shopping street model does not occupy a serious resource. 8818 is still sufficient now, and its user resources are far more than Zhuoyu and Lianshang. Now, you can still master the initiative when adjusting your business development model..."

Wang Haisu thought in his heart that he would still emulate Kumho after all. Although Yan Wenjie did not express his opinion, he knew that Yan Wenjie had lowered his head, which he refused to lower: he did not have enough confidence, so he could only follow his opponents step by step, so as not to go wrong again.

Only then did Wang Haisu really feel that Yan Wenjie was still too much behind Zhang Ke. He felt that the phone in his pocket was jumping. A text message came in. He took out his phone and took a look. It was a text message sent by Hu Jinxing. He accidentally put the phone back into his pocket.

Chen Yong and Hu Jinxing broke into Yunlin Securities with a financing of about 39 million yuan, and tried to make a fortune by taking advantage of the opportunity of Haisu Technology to make a fortune. Who would have thought that Haisu Technology's stock price plummeted after a brief increase, and had dropped to 19 yuan per share at this time? If they did not ask Hu Zongqing to say hello to Yunlin Securities and closed their position in time, they would fill in the margin; at this time, in addition to filling in the margin of four million yuan, they also lost an additional loss of 12 million yuan... Wang Haisu could not care about their life or death. He lent them the one million as margin, and he did not think that he could recover it. It was already considered to be a complete end.
Chapter completed!