The breakfast restaurant was crowded, and many people around him were whispering about the recent news in the newspapers. Lu Feng had no appetite and sat there in a daze.
Several newspapers were laid out in front of me, one of which had a headline: "Interview with an expert in the field of electronics and semiconductors. The expert said: 'Indigenous people are not suitable for starting businesses in high-end fields.'"
Another headline featured a photo of a remarkably handsome man, captioned "Jiao Enfan, PhD Returnee," with a large headline reading: "PhD Returnee Angrily Criticizes Northern Tycoons for Spending Money; Enfan, Founder of Electronics, Talks About Electronic Technology."
After reading the report, Lu Feng learned that this "General Manager Jiao" had done a lot of research on him, saying that he came from a poor background, was uneducated, used underhanded methods, acted without any method, and had a kind of gangster-like air about him, no different from a street thug.
He started with a barrage of criticism, then talked for a long time about the piano, from Beethoven to Mozart, and finally said that he was about to bring an impact to the domestic electronics technology industry, especially the television industry. He said he had received hundreds of millions of dollars in investment from Wall Street and obtained licenses to use several key technologies.
Mr. Jiao's attitude towards the current distribution of the electronics industry is that overseas companies focus on technology, use money to buy technology patent licenses, and use overseas investments to invest in factories in China.
He envisioned seizing the market by taking advantage of the cheap domestic labor force. According to his prediction in the interview, within two years at most, his television sets could capture 30% of the domestic market share, and he also emphasized the overseas market.
High profits can be achieved with only low investment in branding, marketing, product manufacturing, and transportation, which will become the benchmark model for the future electronics and semiconductor industry.
They also pointed out that Lu Feng's spending spree and showmanship should raise red flags, as it could very well be illegal fundraising, which is unacceptable in the industry.
At the end of the interview, the host pressed him on which firm on Wall Street had invested in him, but he didn't say. As for the investment of several hundred million, he didn't specify whether it was in US dollars or RMB.
"You're in the eye of the storm now, you're definitely famous in the electronics industry. A lot of people are calling and cursing at you. The young girls who answered the phone were even made to cry and wanted to quit!" Zhang Fengxia said while eating. "Didn't you say that you could buy a horse's bones with a thousand pieces of gold? You've spent the thousand pieces of gold and bought the horse's bones, but where's the thoroughbred horse?"
"A thoroughbred horse is on its way!" Lu Feng said, picking up the bowl in front of him.
"Why are you talking about him? What's easy these days? Take it slow, if it doesn't work this year, try next year, what's the rush? It's not like we're so poor we can't afford to eat!" Su Yourong said.
Zhang Fengxia snorted softly; she didn't want to talk to Su Yourong.
Lu Feng looked at her with great surprise, drinking his porridge while thinking to himself, "It's really unbelievable that Su Yourong could say such a thing."
On second thought, she might have also hoped for his failure, so that he would naturally accept the smuggling and assembly business with annual profits of hundreds of millions. He didn't think much about her sudden change, which led to him being caught off guard by the internal strife at Jiamei later.
After finishing his meal, Lu Feng returned to his room without saying a word. Cui Ning was arriving soon, which was good news for him. Once back in his room, he first called Jiang Xiaoyan and they chatted about some things at home.
After hanging up, I called Gao Zhiwei again and gave him a brief overview of the factory situation. Preparations for the autumn product launch are complete. We've recently expanded the R&D department, signed a contract with Wahaha, and are expecting to begin production next spring.
"By the way, Mr. Lu, some people in the factory have been talking about your supplementary card lately. Mr. Li's idea is that this matter is not legitimate, so cancel the supplementary card and put the money under temporary loans, and then clear it out when the year-end dividends are distributed."
"How many times have I mentioned a supplementary card?" Lu Feng frowned slightly.
"It's not me who said it, it's some middle managers, some even said that you're going to run away after the financing."
“Don’t believe everything you hear. Just revise the previous IPO prospectus and use it again. It would be best to finalize this before the end of the year. Set the market valuation at 700 million. What do you think?” Lu Feng asked.
"Mr. Lu, the price increase is too much. In April, our valuation was over 100 million. It has increased sevenfold in just a few months. Why don't we wait a little longer? Once our product is launched in the southern market next year, the valuation will definitely go up."
How could Lu Feng wait until then? By then, it would be too late. After thinking about it, he realized that with a valuation of 700 million, it would indeed be difficult to raise funds.
"Five hundred million?"
"That's unlikely, around four hundred million would be about right."
The next two years will be a period of growth for Jiaming Foods. It is estimated that the market value will soar to about 1.5 billion yuan in these two years. Lu Feng roughly estimated that he would need to sell 35% of his shares to cash out more than 100 million yuan of start-up capital.
"Let's go with the price of over 400 million, selling 35% of the equity. Get back to work."
Gao Zhiwei sighed on the other end of the phone. He understood that Lu Feng was determined to leave. In his heart, he regarded Jiaming Foods as a career, but in Lu Feng's eyes, it was just a stepping stone!
Around 10 a.m., Lu Feng arrived at the airport. After several months, he saw Cui Ning again. The two were both quite emotional. They found a restaurant at noon, sat down, ate, and chatted.
"President Lu, you've made quite a splash. On the way here, the whole plane was full of people talking about you. You still love to create a stir. How's that thing I told you about last time?" Cui Ning said while eating, "Let me tell you, there are huge profits to be made here. As long as you have the money, I can handle everything."
Lu Feng shook his head and said, "I plan to start a proper business."
"To make money, do you have the technology patents? Have you contacted the supporting manufacturers? Do you have the sales channels? These large electronic products require high-precision machine tools. Not to mention anything else, producing a high-precision plastic mold pressing machine costs several million yuan, and it's all imported."
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