Those present were all moved by these words, especially some of the long-time employees who had watched Jiafeng Electronics grow step by step. The finance manager was particularly touched.
He knew Jiafeng Electronics' financial situation best. From the very beginning, money was pouring out like the Yellow River bursting its banks. For a period of time, he was so stressed that he couldn't sleep. He didn't know when he would open his eyes one day to find that the company's cash flow had collapsed.
As copper companies began to engage in cutthroat competition, market prices fluctuated wildly, with large companies starting to use price wars to squeeze out smaller businesses.
Three days later, Jiafeng Electronics announced that it had signed contracts with nine medium-sized copper companies at prices five percent higher than the market rate.
Furthermore, the head of the commerce department stated in an interview that he hopes the copper market will remain stable, as vicious price competition will only lead to greater market chaos.
Upon hearing this, the copper company's boss cursed incessantly. Jiafeng Electronics had been dominating the television industry, throwing money at the market, and now they were making sarcastic remarks?
A wave of orders from Jiafeng Electronics has reduced the intensity of competition in the copper market, but the fierce competition continues.
In the three provinces where the company has established a presence, Wepuda's sales have surpassed Changhong's, making it the undisputed number one. Panda's OEM production has also begun, and everything is progressing rapidly.
We definitely can't enter the Sichuan market anytime soon; the wrangling and lawsuits will take at least a year and a half to resolve. The marketing department has decided to postpone our entry into that market!
Inside the meeting room, Lu Feng flipped through the reports in his hand. The consumption potential of major provinces had been largely explored. The transportation costs in some provinces were simply too high, such as Yunnan and Guizhou.
"Once freight logistics, terminal sales points, assembly plants, and after-sales service are all established, which province can be fully connected by the end of the year?" Lu Feng asked Zhu Lidong.
Zhu Lidong pondered for a moment and said, "The easiest place to open up now is the coastal area. We are already very familiar with the port of Ningbo. As for the inland areas, Henan, my idea is to first target cities like Guangzhou and Shenzhen!"
Lu Feng nodded and said, "That's fine. There's a lot of consumer potential and many factories over there."
“There’s a problem, though. The market there is very competitive, and it’s a hub for foreign brands. Once we go there, it’ll be a whole system, from marketing and advertising to assembly plants and finding distributors to cooperate with. All of that costs money!” Zhu Lidong took a folder from the vice president next to him and said, “The average cost to get through to a province is ten million!”
Everyone present fell silent; after all, it all came down to money.
Lu Feng sighed and flipped through the reports in front of him. It seemed that he couldn't make any rash moves in the next month or two. Since yesterday, Jiafeng Electronics had entered a period of stable profits.
Daily profits range from 300,000 to 500,000. The finance department estimates that, based on market peaks and troughs, profits for the second half of this year will be around 60 million.
Jiafeng Electronics' total liabilities amount to 260 million yuan, not including the 80 million yuan that Lu Feng swindled. If that were included, the company would be on the verge of bankruptcy.
The competition over the past few months has brought Jiafeng Electronics to the brink of bankruptcy. If they fight on for another month, Lu Feng really won't be able to hold on.
After three hours of discussion, Lu Feng ultimately decided to postpone market expansion, focus on developing these three provinces, and then proceed with market development in other provinces after August.
Yesterday was still a day of fierce competition, but in just a few days, it's as if nothing ever happened. The terminal market remains intense, but everyone understands one thing: Wepuda has truly stood up.
Many companies have begun to study Jiafeng Electronics, from its products, internal management, marketing, employee incentives and other systems. Rather than studying Jiafeng Electronics, they are studying Lu Feng.
This is a person who has repeatedly created miracles. If Jiaming was just lucky before, then Jiafeng Electronics cannot be said to be so lucky.
It was already the end of June, and the scorching heat of midsummer was baking the earth. The air conditioning in Lu Feng's office was on, making it somewhat cool, when the phone on his desk rang.
Who is it?
"Mr. Lu, this is Secretary Cui. I'm coming to the city tomorrow for a meeting, the mid-year private enterprise conference. You've performed exceptionally well this year. Let me give you a heads-up, the title of local leading enterprise might go to your company."
"Really? Then thank you, Secretary Cui. Things have been going on and on lately," Lu Feng said happily.
Since Mr. Lu is so happy, I'll say it all at once. It's double happiness! On the first of next month, provincial leaders will be coming to inspect the factory. They've arranged for your factory to be there. Please make the necessary preparations.
Lu Feng was taken aback for a moment upon hearing this, then realized what he meant and said, "No problem!"
After exchanging a few polite words, Lu Feng hung up the phone, stood up, left his office, pushed open the door to Zhang Fengxia's office, and said, "We'll be a bit stricter on production these next few days. The leaders are coming to inspect on the first of next month, and there might be TV stations or something."
"Huang Youwei is coming?" Zhang Fengxia looked up, somewhat surprised, and said, "If he wants to come, he can come."
"If he comes, do I need to give any instructions? He's from the province."
Everything returned to normal, and Lu Feng's work pressure was greatly reduced. Judging from the current profit situation, paying back the 80 million yuan deficit would not be a problem at all. As for bank loans, they could be discussed next year. As long as there was a market, nothing else mattered.
Lu Feng has been working himself to the bone for the past six months, almost non-stop, and he's been thinking about taking a break.
The following day, a grand conference of private entrepreneurs was held, with a total of 120 people in attendance, basically bringing together all the prominent businessmen in the city.
Before the show started, everyone was searching for Lu Feng in the crowd. Although many people didn't know what Lu Feng looked like, everyone knew one thing: he was very young.
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