Chapter 483 Suitable for Carrying
In the afternoon, sunlight shines through the huge floor-to-ceiling windows of the CEO's office on the top floor of the technology building, illuminating the interior with a clear glow.
Zhang Yong sat behind a large desk, his eyes fixed on the computer screen, fixed on the latest updates on the official Weibo of the "China Government Network".
The blog post is concise and to the point: [This year, China's GDP growth target: 7.5%! ]
The release of this indicator is a routine every March, but this year it is particularly different because it is accompanied by a carefully designed promotional poster.
The distant view of the picture is a thriving modern city skyline under a clear blue sky.
In the most eye-catching spot in the center of the picture, standing tall as a backdrop of national economic confidence, is the headquarters building of Tenda Technology Group.
Zhang Yong's eyes lingered on the picture for a long time, and he understood.
All of this stems from Chairman Song Ci’s groundbreaking “Internet Plus” proposal at the National Conference.
The proposal goes beyond the scope of the enterprise itself and systematically explains for the first time 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.
Once the proposal was announced, it caused a huge sensation and heated discussion in academia, industry and even politics.
At this moment, the government's official website has chosen Tengda Technology Building as the "image spokesperson" for the country's economic goals, and its intention is self-evident.
This is not only an affirmation of Tenda Technology's leading position in the industry, but also a high recognition and endorsement of the "Internet +" strategic direction.
The country's expectations for economic development are concretely projected onto this building, which symbolizes the future of innovation and technology.
A surge of glory followed, but also a heavy pressure. This picture is a silent test paper.
Tenda has been pushed to the center of the stage, which means that its strategy must succeed and must effectively help the country achieve or even exceed the 7.5% target.
This is not just about the company's own business development, but also carries a mission at the national strategic level.
If you succeed, you will prosper and shine with the country; if you fail, today's praise will become tomorrow's ridicule.
How should resources be allocated? How should technology be brought to the grassroots level? How should integration with traditional industries be promoted? Each of these questions is crucial to the ultimate outcome.
As his thoughts raced, Zhang Yong noticed the time in the corner of his screen jump to 2:15 p.m. He closed his notebook, picked up the white porcelain teacup on the table, and went downstairs for the meeting.
When I walked into the conference room, all the participants on both sides of the long table were already there.
He nodded to several core executives, walked straight to the main seat and sat down, and directly ordered: "Let's get started."
Jiang Tiantian, director of the group's general office, then announced loudly, "Good afternoon, presidents! We are now convening this month's regular meeting of group executives."
Because Chairman Song is still in Beijing attending the National Conference, this meeting was chaired by CEO Zhang.
Zhang Yong calmly scanned the room's audience and got straight to the point: "Today, the government announced the 2013 economic growth target, and everyone has seen it.
The background of the promotional image uses our Technology Building!"
The conference room was completely silent, and everyone listened with bated breath.
"This is the highest honor bestowed upon Tengda by the nation, and a recognition of Chairman Song's forward-looking 'Internet Plus' strategy."
Zhang Yong paused, his tone sinking slightly, "But it's also a heavy responsibility!
Mr. Song also forwarded the post on WeChat Moments, saying only: "This building has a nice shape and is suitable for carrying." Carrying what? I think everyone here knows.
The executives present nodded one after another with serious expressions.
They all pay attention to the chairman's dynamics and the subsequent impact of the proposals, and are well aware that from today on, the group's development direction is not only related to its own profits and losses, but is 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 spoke to me on the phone at noon. He asked the group to respond immediately to the country's call to 'stabilize growth and protect employment.'"
I have decided to immediately launch the company's largest spring campus recruitment in history, creating 5,000 new jobs.
You will take the lead and require all departments and subsidiaries to report detailed recruitment needs within two days, and the Human Resources Department will uniformly plan and implement recruitment.
We need to be fast and accurate, and demonstrate Tengda’s efficiency and social responsibility.”
"Understood, Mr. Zhang. I will make arrangements immediately after the meeting." Zhou Yu quickly recorded and responded.
After giving the order, Zhang Yong turned to look at the Chief Operating Officer Wang Jing beside him and said, "Mr. Wang, this matter concerns the implementation of the group's strategy and external image. Mr. Song attaches great importance to it.
Please personally take charge of the overall work and coordinate resources from all parties to ensure that recruitment is carried out efficiently and in line with the 'Internet+' expansion plans of each business line."
Wang Jing immediately nodded solemnly: "Don't worry, Mr. Zhang, I know the seriousness of this matter. I will follow up personally to ensure implementation."
The regular meeting proceeded as planned. Several department presidents gave concise work reports and put forward some resource coordination requirements with great efficiency.
It was Shen Boyang, the president of Today’s Optimal, who was reporting, and he said in an urgent tone, “Mr. Zhang, there is an emergency that must be reported.
Competition in the food delivery market is fierce. Baidu, Meituan, and Ele.me, which is backed by Alibaba, seem to have formed a tacit agreement and are circling us.
After saying that, he quickly pulled up the prepared data for projection: "Baidu Waimai is concentrating all its resources on the capital market; Ele.me is firmly rooted in its base camps in Jiangsu, Zhejiang and Shanghai, not giving up an inch of ground;
Meituan has the strongest momentum and is engaging in head-on battles with us in major provincial capitals across the country, with huge investments.
This regional, focused offensive clearly shows that the three parties have reached some kind of temporary agreement to jointly contain us."
Zhang Yong narrowed his eyes, knowing full well the current situation of the takeout industry. It was nothing more than the ancient strategy of "vertical alliance".
Faced with Tengda, their strongest common enemy, the former rivals temporarily united in order to survive.
“They are under great financial pressure, so what about our subsidies?”
A trace of embarrassment crossed Shen Boyang's face. "Mr. Zhang, the 30 million special subsidy that the group approved for us at the end of January has been used up. We need to apply for further financial support from the group."
"Thirty million, all used up?" Zhang Yong was a little bit unbelievable, and a burst of suppressed discussions suddenly sounded in the conference room.
Thirty million was burned through in just over a month, and the market structure had not undergone a decisive change. This speed of burning money shocked all the executives present.
Feeling the doubts of the crowd, Shen Boyang hurriedly explained: "Mr. Zhang, all the presidents, please listen to my explanation. Our money is burned efficiently!
With WeChat's precise traffic entrance, more advanced intelligent dispatching algorithms and its own efficient team of riders, the average subsidy cost per order is only about half of that of Baidu and Meituan.
We invested 30 million, but the other party was forced to invest much more than us to maintain their market share, estimated to be over 60 million."
Zhang Yong calmed down and asked about the key indicator: "What is the current market share?"
Shen Boyang immediately replied: "According to the latest monitoring data, today's preferred selection accounts for 46%, maintaining the first place.
Baidu holds 22% and Meituan 20%, ranking second and third respectively. Ele.me holds about 10%, and the remaining small platforms are negligible.”
After hearing the data, Zhang Yong was secretly shocked by Meituan.
This company has come from behind and is showing strong momentum. At this rate of growth, it is only a matter of time before it surpasses Baidu and becomes the second in the industry. No wonder the chairman has repeatedly regarded it as a major concern internally.
After a brief thought, he made a decisive arrangement: "Boss Shen, I will approve another 50 million for you. The subsidies cannot be stopped. When it is time to fight, we must fight resolutely and without mercy."
Shen Boyang was overjoyed when he heard this. This amount of money was enough to support him in competing in high-intensity competition for another two months.
But Zhang Yong changed the subject: "However, fighting one against three is still a bad idea, even if the group can afford the subsidies, because the cost is too high.
We must concentrate our firepower and prioritize defeating one of them to break their alliance. Mr. Shen, in your opinion, which of these three is the weakest and most likely to be eliminated first?"
Shen Boyang answered almost without thinking: “Baidu Takeout!”
This answer surprised many, including Zhang Yong. Baidu is a powerful company with a strong investment strategy, 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 strong on the outside but weak on the inside.
Their current market share is almost entirely due to high subsidies regardless of cost. The average subsidy amount per order is more than twice ours!
Even so, its market share was still being rapidly eroded by Meituan, which has strong execution capabilities and a fiercely motivated field sales team.
Although Ele.me currently ranks fourth in market share, it has a secure capital chain backed by Alibaba and is very resilient.
In contrast, Baidu's core search business is facing huge challenges. O2O is not the core of its strategy, and its determination and persistence in investment are questionable.
If the subsidy effect falls short of expectations or pressure on the group level increases, they are most likely to be the first to shrink or even give up."
Zhang Yong listened and quickly weighed the pros and cons. Shen Boyang's analysis hit the nail on the head; striking the weakest link is often the fastest way to break an alliance.
He immediately made the decision: "Okay! Then concentrate our firepower and focus on attacking Baidu Waimai!
Keep fighting until the other party can no longer bear it and voluntarily withdraws from the competition, or turns to fight Meituan and Ele.me!"
This decisive strategic decision made some senior executives attending the meeting slightly dazed.
For a long time, the company's overall strategic direction was almost entirely insightful, planned and ultimately decided by Chairman Song Ci.
CEO Zhang Yong relies more on strong operational and execution capabilities to implement the strategy.
Song Ci is not here at the moment, and Zhang Yong's sharp judgment and strategic courage remind everyone.
This CEO, who is usually diligent, pragmatic and a little introverted, is also one of the founders of Tengda. His vision and decisiveness have never been absent, but they are often overshadowed by the more dazzling brilliance of Song Ci.
COO Wang Jing took in everyone's expressions and felt a surge of emotion.
The "three giants" of Tengda's core decision-making level have clear division of labor: Song Ci is the navigator who looks into the distance and draws the blueprint.
Zhang Yong is the captain who ensures that every part of the giant ship operates efficiently; while she is the first mate who is responsible for supervising execution and checking for omissions and fixing deficiencies.
The clear distinctions on a daily basis allow the company to run in an orderly manner, but it is also easy for people to overlook that the captain himself also has the courage and wisdom to determine the direction of the ship.
The regular executive meeting of Tenda Technology Group lasted for several hours and ended in an orderly manner until sunset.
At the same time, the solemn meeting in the Great Hall had just ended and representatives were pouring out from various exits.
Song Ci walked slowly out with the crowd, still thinking about the discussion on economic transformation at today's meeting.
At this moment, a deep and gentle male voice with a Sichuan accent came from the side: "Mr. Song, your proposal today on using 'Internet+' to empower national economic development was really well spoken!"
Song Ci looked in the direction of the voice and saw a peaceful, elderly man smiling at him. He immediately recognized him as Liu Yonghao, a legend in China's private economy and founder of New Hope Group.
"Mr. Liu, you're too polite." Song Ci stopped and shook hands humbly. "These are just some immature and superficial opinions. I'm sorry to show off my skills in front of all you seniors."
Liu Yonghao smiled heartily and waved his hand, saying, "Director Song, you're being too modest. Your suggestions are insightful, forward-looking, and actionable. I heard that many representatives and comrades from ministries and commissions were discussing them after the meeting."
The leader also specifically mentioned in his summary that we should encourage this kind of innovative thinking. Those of us who are engaged in traditional industries have also benefited greatly from it. "
The two exchanged a few pleasantries about the conference's agenda. Song Ci's mind shifted. He had recently been planning to visit Liu Yonghao to discuss important matters, and unexpectedly, meeting him here was a perfect opportunity.
He never liked procrastination, so he said, "Mr. Liu, it's better to meet by chance than to invite you. I just happen to have something to discuss with you."
Liu Yonghao was slightly stunned, then showed great interest: "Oh? Mr. Song, please speak." The two of them slowed down their pace tacitly and talked while walking along the corridor outside the conference hall.
Song Ci got straight to the point: "To be honest with you, Mr. Liu, Tengda is planning to take the lead and apply to establish a private bank."
As soon as these words came out, a gleam of light flashed in Liu Yonghao's eyes.
He is not only a giant in agriculture and animal husbandry, but also one of the founding shareholders of China's first private bank, Minsheng Bank. He has served as vice chairman for a long time and has a deep affection and understanding for the banking industry.
He immediately asked, "Private banks? This is no small matter. What specific ideas does Mr. Song have?"
Song Ci further explained: "Yes. But it will be a different bank, a pure internet bank.
It has no physical business outlets; all deposits, loans, payments, settlements and other services are completed through the online platform.”
"Relying on your WeChat Pay?" Liu Yonghao is by no means a traditional entrepreneur who is complacent. He always pays close attention to cutting-edge technologies and new business models and immediately grasps the key.
"WeChat and its payment ecosystem will be one of the core carriers and traffic entrances." Song Ci nodded and then elaborated on the idea in detail.
"The bank will leverage internet technology to provide more convenient and efficient inclusive financial services to individual consumers and small and micro businesses that are not adequately covered by traditional financial services."
Liu Yonghao was a true expert and immediately thought of the key question: "Mr. Song, you came to me today, could it be that you want New Hope Group to participate in the investment?"
Knowing that regulatory requirements have strict restrictions on the shareholding ratio of a single shareholder in private banks, Tengda must find high-quality shareholders to jointly initiate the venture.
Song Ci admitted frankly: "That's exactly what I meant. New Hope Group is the leader of China's agricultural industry, with a deep industrial foundation and a huge upstream and downstream network.
An important strategic direction for the Internet bank we are planning in the future is to carry out agricultural assistance businesses such as agricultural loans and supply chain finance.
This is highly consistent with New Hope Group's development strategy, and we can form a strong complementary advantage."
For this "MyBank" which is still in the blueprint stage, Song Ci has a clear positioning: focusing on personal consumption and microfinance.
Once Tengda takes the lead in breaking through, Alibaba Group will inevitably follow suit quickly and establish another Internet bank based on the Taobao Tmall ecosystem, and its main service targets will focus on the massive small and medium-sized enterprises on the platform.
In addition to individuals and small and micro enterprises, the vast rural and agricultural markets are fertile land with huge potential and in urgent need of financial irrigation.
Promoting inclusive finance and assisting 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.
Introducing Liu Yonghao and New Hope Group is undoubtedly the best strategic choice to leverage this blue ocean.
Liu Yonghao pondered for a moment. Having navigated the business world for decades, he had weathered many storms and possessed a discerning eye. In just a few minutes of conversation, he had already quickly weighed the pros and cons.
While internet banking is a new phenomenon, its future is undeniable. Partnering with the burgeoning Tengda Group and tapping into the promising rural finance sector is also a strategic opportunity for New Hope.
He raised his head, a deeper smile on his face, and said in a tone of inquiry and sincerity: "Mr. Song, Internet banking is indeed a new thing, and I am very interested.
However, as an old man, I still need to learn some of the specific operating models and risk control details. I wonder if Mr. Song can help me clear up my confusion?"
Song Ci readily agreed and looked at the time. "Of course. Mr. Liu, it's getting late. There's a nice restaurant nearby that's quiet and elegant. Why don't we eat and chat?"
"Haha, okay! Then I'll bother Mr. Song." Liu Yonghao agreed with a smile.
The two business leaders, representing China's old and new economic forms, walked side by side towards the sunset.
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(End of this chapter)
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