Chapter 559 A Defeated Soul
When He Chengzhong, Vice President of Yipay, rushed to the chairman's office after receiving the notification, he was greeted by a rather artistic scene.
Song Ci was facing away from him, leaning alone against the huge floor-to-ceiling window.
The summer sun shone through the glass, outlining his tall figure with a golden edge, and a contemplative tranquility filled the air.
"Chairman Song".
With a soft call, Song Ci snapped out of her reverie, turned and walked to her desk, pointing to the chair in front of her: "Sit down. There are a few things you should write down."
His conversation with his uncle Liu Xiaochen about the cash crunch and the potential risks of P2P lending was still fresh in his mind, and he decided to strike while the iron was hot and make arrangements in advance at the early stage of the storm.
He Chengzhong sat down as instructed, opened his notebook, held his pen at attention, and waited for instructions.
Song Ci got straight to the point: "Are you familiar with the P2P lending services that are currently emerging in the market?"
"I understand, Chairman Song."
He Chengzhong is clearly paying attention to this field. "I have looked at the market data. There are probably as many as 500 online lending companies of various types. The growth is very fast."
Song Ci was slightly surprised. It was only 2013, yet the number of P2P platforms had already reached such a massive scale.
Tenda Technology's early adoption of mobile payment and internet finance has, to some extent, accelerated the growth of P2P lending.
The follow-up question was: "Among these companies, are any using EasyPay for fund collection and transfer?"
He Chengzhong dared not be negligent and gave a detailed report: "Chairman Song, I have been personally overseeing this work and listing it as a key matter of concern."
The main finding was that the growth rate of the capital pools on some platforms was abnormally high.
I'm worried that if these companies run into problems, it will affect EasyPay's reputation and the safety of users' funds..."
Song Ci nodded in approval, saying, "That's good. It's a good thing to be able to see this layer in advance and to be vigilant."
Having received affirmation, He Chengzhong spoke about the control measures: "For P2P companies, I require that payment gateways be tightened."
Access to the YiPay API is absolutely prohibited without proper qualifications or third-party guarantees.
"Well done! You've handled this checkpoint very well!" Song Ci looked at He Chengzhong with increasing admiration.
This vice president took over the management of EasyPay after his predecessor, Lin Haifeng, was transferred to MYbank.
Not only did they manage all their businesses in an orderly manner and achieve soaring performance, but more importantly, they possessed a keen sense of risk control.
Song Ci secretly pondered that it was time to consider removing the "deputy" title from his position and officially appointing him to head YiPay.
"I would like to add a few more requirements, which must be implemented immediately." Song Ci paused briefly before outlining his instructions:
"Optimize the real-time trading system. Once abnormal trading data is detected on the platform, such as a large amount of small funds accumulating in a short period of time, the system should automatically issue an alert and restrict the trading."
For transactions suspected of usury or charging exorbitant upfront fees, we will attempt to intercept and issue risk warnings at the payment stage.
As soon as He Chengzhong recited a line of Song Dynasty poetry, he would quickly jot it down in his notebook, the pen scratching softly.
Finally, Song Ci solemnly admonished, word by word: "In short, I don't want the first thought of the victims when any online lending platform collapses and makes headlines in the future to be:
"Our money was transferred to them through YiPay! This situation must be prevented at its source!"
He Chengzhong immediately stated, "Chairman Song, rest assured, I will strictly enforce the access standards and establish a 'whitelist' system. I will safeguard the security of YiPay and will never betray your trust!"
"You've worked hard. This work is not only to maintain the group's reputation, but also to protect the safety of users' assets, so please pay close attention," Song Ci encouraged.
He was well aware of the difficulty of this task.
Human greed leads many uninformed users to be unable to understand the controls implemented by EasyPay in the face of the lure of high returns.
Instead, they will complain that the platform is hindering their shortcut to "making money by transferring funds".
P2P lending is still in its infancy, and various problems have not yet surfaced. He can't say much to the higher-ups, so he can only take it one step at a time, uphold a sense of responsibility, and prevent problems before they arise.
In the next office, Wang Jing glanced quickly at the last page of the document, then picked up a pen and signed her name with swift, decisive strokes.
"Alright." She closed the folder and handed it to the secretary standing beside her. "Give it to the office and forward it to Chairman Song for review."
"Okay, Mr. Wang."
Just then, a soft knock came at the door.
"Please come in."
The door was pushed open, and Liu Rong, president of Tengda Culture, entered.
Wang Jing looked up and saw who it was, and asked in surprise, "Why are you at headquarters?"
Liu Rong put on a smile: "President Wang, there are some work-related matters I'd like to report to you in person."
Wang Jing understood and nodded slightly to her secretary: "Go ahead and get busy, I'm free for now."
The secretary understood, quietly withdrew, and gently closed the door behind her.
After Liu Rong sat down, without much small talk, she took out a neatly bound document from her briefcase and handed it over with both hands.
"Mr. Wang, this is a list and plan of all the film and television projects that Tengda Culture will start filming or are currently in preparation for in the second half of the year. Please review and approve them."
Wang Jing didn't take it, but pushed it back and shook her head, saying, "I'm not in charge of this specific business anymore."
Zhang Zhao is about to take over as the Executive President of the Digital Media and Entertainment Business Group. He will report to headquarters the day after tomorrow. From now on, you will report directly to him on these projects.
Today, Tenda Group is an international internet giant, and as the group's chief operating officer, she needs to devote more energy to overall operations management.
Oversee the entire process from product, technology, and marketing to sales and customer service.
In addition, she is also responsible for strategic agreements with leading partners and promoting in-depth cooperation in joint product development and channel distribution, leaving her with no time to specifically inquire about the details of any particular business segment.
Liu Rong's outstretched hand froze in mid-air, a hint of embarrassment and resentment flashing across her face. She reluctantly withdrew the document, her voice lowering slightly:
“Zhang Zhao… Although he is the CEO, you are, after all, a director and COO of the group. He can’t surpass you.”
Upon hearing this, Wang Jing understood and sighed softly.
"Liu Rong, although Zhang Zhao's appointment document has not been officially announced, Chairman Song has already spoken, so this matter is a done deal."
Your focus should be on doing your job well and cooperating with the new management structure; that's the right thing to do.
With her thoughts laid bare, the last vestige of a forced smile vanished from Liu Rong's face, replaced by a mix of resentment, grievance, and a lingering obsession.
She gritted her teeth and decided to cut to the chase: "Mr. Wang, I'm also a veteran who's worked my way up with the group! Back when we founded Southern Cinemas..."
"I don't want to hear your complaints!" Wang Jing's tone suddenly turned stern as she interrupted sharply.
"Throughout the group, more than half of the presidents are key employees who followed Chairman Song from the early days of the company. Which one of them hasn't made contributions?"
She paused, her voice softening slightly, yet carrying even more weight: "You've made contributions, and the company has never treated you unfairly. You've received all the stock options and benefits you deserve."
Chairman Song even considered your early contributions and specially approved an additional one million stock options for you. Liu Rong, one should know how to be grateful, and even more importantly, be content.
These words were like a bucket of cold water poured over Liu Rong's head. She was speechless, her lips moved but no sound came out.
After a long silence, he gave a bitter smile, tinged with self-mockery and indignation: "President Wang, in what way do I fall short of Zhang Zhao?"
Does his ability to attract attention in theaters simply because he introduced some new tricks and installed a few claw machines make him seem more capable?
Disappointment flashed across Wang Jing's face, and she sighed softly, "Even now, you still don't know where you went wrong!"
These words struck Liu Rong like a heavy hammer, instantly replacing the resentment on her face with astonishment.
After a long pause, he sat up straight, his expression becoming more serious than ever before: "Please explain clearly, so that I can understand why I lost."
Wang Jing slowly began, “If you and Zhang Zhao switch positions and work in the same department, it will be easy to compare your abilities and work performance.”
Liu Rong couldn't help but defend herself: "After I joined Tengda Culture, the company's revenue and profit growth were no worse than when Zhang Zhao was in charge!"
“No, you’re only seeing the surface.” Wang Jing shook her head, deciding to hit the nail on the head and wake her up.
"After taking over Southern Cinema Line, Zhang Zhao not only stabilized the core business, but also made a lot of innovations in non-ticket business, scenario consumption, and digital membership system, and his achievements are obvious to all."
However, after you took over Tengda Culture, you overlooked an extremely important strategic segment.
"What sector?" Liu Rong frowned, quickly reviewing the work in her mind, but did not find any oversights.
"It's the advertising business!" Wang Jing revealed the answer directly. "During your time at the helm of Tengda Culture, the advertising business has been almost stagnant, with no growth!"
"An advertisement?" Liu Rong was completely stunned, subconsciously repeating, "An advertisement?!"
“When Tengda Culture was first established, Chairman Song insisted on setting up an advertising department. At the time, I was a little puzzled as to why a film and television company with content production as its core would attach so much importance to advertising.”
Wang Jing's voice was filled with reminiscence and admiration, "Until later, the group developed super traffic portals such as Weibo, WeChat, and Toutiao one by one."
Only after building this vast ecosystem did I truly understand the profound depth of Chairman Song's strategic planning!
She stood up, walked to the window, and looked at the rows of buildings outside. Her tone became impassioned:
"Looking at the world, Tenda Technology is already the second largest internet advertising platform giant after Google!"
With access to massive user traffic and the unparalleled channel advantages of the group, we are well-positioned to contribute to this success!
Tengda Culture should have seized the opportunity and made great strides in the digital advertising field, becoming a top advertiser in the mobile internet era! But what about you?
She turned around, her eyes sharp and compelling: "You come from a background in the cinema business, so you naturally value the film and television business."
When they arrived at Tengda Culture, their mindset remained unchanged. They devoted most of their energy and resources to the film and television sector, neglecting the advertising business with unlimited potential.
This isn't exactly putting the cart before the horse, but it certainly proves that your business acumen is indeed too narrow!
Wang Jing returned to her seat and objectively assessed: "When Zhang Zhao was in charge of Tengda Culture, the group's ecological advantages were far less obvious than they are now, and the support he could obtain was also limited."
However, Tengda Culture's advertising business has maintained a high growth rate of tens of percent annually, showing very strong momentum. Now, do you understand?
"So... that's where the problem lies." After listening to Wang Jing's meticulous analysis, Liu Rong felt as if all her strength had been drained.
He slumped back in his chair, a complex, bitter smile on his face, a mixture of realization, regret, and a deep sense of powerlessness.
"Hearing what you say, I... I really didn't lose unjustly. It was my own limited vision that prevented me from keeping up with the strategic thinking of the group and Chairman Song."
Seeing that she had finally come to her senses, Wang Jing softened her tone and said with emotion, "Chairman Song has always promoted the capable and demoted the mediocre!"
You need to understand that the advertising industry is far larger and more substantial than the film and television industry.
"With proper management, Tengda Culture's advertising revenue could easily reach three to five times its film and television revenue! Digital advertising has enormous potential!"
"At the beginning of the year, at the 2012 summary meeting, Chairman Song mentioned 'ecological synergy' and 'traffic monetization,' which was actually a hint to you."
Unfortunately, after six months, you don't seem to have grasped the point.
In contrast, Zhang Zhao previously worked at SCIO’s Visionary company and had dealings with more than a dozen television stations in the United States.
Having handled complex media resources and advertising business, my vision and overall perspective are indeed broader than yours.
At this moment, Liu Rong's resentment had vanished, leaving only a sense of complete acceptance.
With such a major oversight in her work, the chairman has no choice but to select a more capable person.
"Alright, let bygones be bygones," Wang Jing comforted him. "Don't get emotional, adjust your mindset, and cooperate well with Zhang Zhao in the future."
The stage at Tengda Group is large enough; as long as you have the ability and can keep up, there will be plenty of opportunities.
Liu Rong took a deep breath, calmed her chaotic thoughts, and solemnly stated:
"Mr. Wang, don't worry, I'll personally take charge of the advertising business when I get back. Today... thank you for your guidance, and I apologize for bothering you."
Wang Jing nodded slightly in agreement. Just as Liu Rong was about to get up and take her leave, she suddenly remembered something:
"Oh, right, there's one more thing. The group has reached a cooperation agreement with Paramount, and Transformers 4 will be filmed in Hong Kong and other locations."
At that time, we can send several directors and producers to the film crew to learn from them.
Go back and make arrangements to select a few ambitious and quick-witted key personnel to participate. This is an excellent opportunity to learn about the industrial processes of Hollywood filmmaking.
Liu Rong's expression turned serious: "Understood, this is a valuable learning opportunity."
Wang Jing added, “Hollywood’s big productions generally adopt a ‘producer-centric system,’ which is different from the ‘director-centric system’ in China.”
However, its rigorous process management and cost control are well worth learning from and are very suitable for Toutiao Video.
Learn how to utilize industrialized processes to achieve mass production and standardized manufacturing of film and television projects, thereby increasing the probability of creating blockbuster hits.
She paused, then emphasized, "You need to pay close attention to this. The people you send should learn how the production system is structured and how teams work together."
Understand the specific responsibilities of different roles such as producer, production manager, on-set producer, and location liaison.
Pay particular attention to how the production department monitors the budget and executes expenditures. In Hollywood, every expense has a strict process and monitoring system.
Liu Rong carefully noted down: "Okay, I will have the trainees focus on the advanced experience of the production management system and the directing team."
"Remember, the industrialization of film is not just about piling up technology and processes; it is more about a way of thinking, a work culture, and a spirit of collaboration."
Make sure the people sent there observe, learn, and reflect extensively, and bring back the essence of what they've learned.
“I understand. Mr. Wang, if there’s nothing else, I’ll head back now. Thank you so much for today,” Liu Rong said sincerely, standing up.
Wang Jing nodded slightly: "Go back. Give the digital advertising business a thorough review."
"I need to come up with a preliminary idea and plan, which I'll report to Chairman Song at the group's mid-year meeting in a few days."
(End of this chapter)
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