At 9:30, Lu Feng changed into a light blue suit without a tie, stepped out of the room, and went to the reception room to meet Feng Zhiyao.
"Is this all the fuss to welcome me?" Feng Zhiyao stood up, a hint of joy on his face, feeling quite important.
"Has President Du arrived?" Lu Feng asked Liu Cheng.
"I estimate I'll arrive around noon. President Wei has already arranged a lunch dinner for me," Liu Cheng replied, standing up.
"Oh, oh!" Lu Feng nodded, looked at the suitcase next to Feng Zhiyao, and asked, "Weren't you going to make some investments after the New Year? Why did you bring a suitcase?"
“I’ll keep an eye on you!” Feng Zhiyao retorted stubbornly.
"Then keep an eye on him. Tell me in advance, stay by my side, and you'll hear all the company secrets. If you leak anything and it causes company financial loss, you'll be held responsible. I'm going to grab some breakfast. When President Du arrives, let me know!"
"I haven't eaten either." Feng Zhiyao jogged after him.
Breakfast was simple: a bowl of porridge and a small portion of pastries. Feng Zhiyao sat opposite Lu Feng, glanced at him several times, and said, "I heard you're thinking of developing your career in the entertainment industry?"
“Trade secret!” Lu Feng replied coldly.
"I'm also a shareholder..."
"You're the son of a shareholder, so don't ask questions you shouldn't ask, and don't give me any development advice or directions. I'll be very busy during this time and won't have time to tease you." Lu Feng finished speaking and ate his meal in silence.
Feng Zhiyao felt somewhat uncomfortable sitting opposite Lu Feng, who was dressed in a suit and looked exceptionally refined, like an elite talent. He was very aloof, which made people feel a little intimidated.
At 11 o'clock, Wei Yandan replied that she had picked up President Du and was on her way to the hotel. As the host, Lu Feng set off for the hotel ahead of time.
At 11:30, Lu Feng met with President Du in a private room at the hotel. The two were overjoyed to see each other. Since meeting Lu Feng, a series of problems at Starry Sky Media seemed to have been solved. People in Hong Kong are still quite superstitious.
During the Chinese New Year, Mr. Du consulted a fortune teller. According to the divination, Lu Feng would be his benefactor for the next ten years, bringing him great fortune.
"Sit down!" Lu Feng said politely.
After everyone was seated, Wei Yandan sat next to Lu Feng.
"Let me introduce you first, Mr. Du. This is Ms. Wei, the Vice President of Jiafeng Electronics. She is currently in charge of the business unit and will be your main contact person for future cooperation in the entertainment and media sectors," Lu Feng explained.
"Hey!" Wei Yandan greeted him politely in two standard Cantonese phrases, showing that she had done her homework.
After exchanging pleasantries with Wei Yandan, President Du turned to Feng Zhiyao, exchanged a few words with him, and asked him about Mr. Feng.
"I've had internal meetings, and everyone agrees that partnering with Jiafeng Electronics is an excellent choice. You produce the hardware, and we provide content support. In terms of content promotion, the celebrities' fame can boost the business, which has a very promising future."
“That’s for sure. Our products sell very well, and we have a lot of resources in terms of celebrity promotion and packaging. My idea is to first bring some of the more famous celebrities to the mainland to make a great start.” Lu Feng looked at President Du and asked, “What do you think?”
"That's for sure. The key issue is piracy. Piracy in mainland China is rampant. A few years ago, some Hong Kong talent agencies wanted to enter the mainland market, but they were piracy of cassette tapes and videotapes too severely," Mr. Du said with concern.
"We'll handle the theft prevention. We'll focus on hardware-based theft prevention. Complete theft prevention is unrealistic. I believe what we can offer is high-definition, lossless services. The market for that is huge. If we can capture even one-tenth of the market, we'll be rich."
Mr. Du's concerns about the mainland market are also very reasonable. Hong Kong had previously tried to enter the mainland market, but was driven back to Hong Kong by the army of pirates.
Lu Feng's idea is to provide hardware-based anti-theft protection and higher-definition, higher-quality content.
The two chatted happily, with Wei Yandan occasionally offering her own insights. No alcohol was consumed during the meal, but the atmosphere at the table was excellent, and even Feng Zhiyao frequently joined in the discussion.
After dinner, they went to the reception room for tea. Lu Feng sat down and asked, "So the joint venture is settled then. What are your thoughts on the equity structure, Mr. Du?"
"Our internal discussion has led us to hope that we can own 51% of the shares. The celebrities and artists are ours, as is the content production. You will be responsible for packaging, promotion, organizing performances, and getting on TV," said General Manager Du, revealing his thoughts.
Lu Feng nodded slightly. He had expected this outcome, but he still wanted to try.
“We’ll invest 5 million, and you can invest less. We want the mainland distribution rights for the artists, films, and songs. The artists must sign contracts and follow our arrangements when they come. Also, they must endorse Jiafeng Electronics. We can pay an endorsement fee, but the price won’t be too high,” Lu Feng said to President Du.
Mr. Du looked troubled. This was equivalent to paying five million, only to have all the meat eaten and leave him with just a bone.
"President Lu, I won't be able to explain this to you when I get back. These conditions are too harsh."
Lu Feng understood his idea: he wanted to test the waters in mainland China, but he was unwilling to invest too much. He wanted to find a company to take the risk. Once the business was good here, as the major shareholder, he would immediately dilute his shares and introduce new shareholders from Hong Kong. A few years later, Jiafeng Electronics was squeezed out of the board of directors.
“We’ll contribute eight million, and you’ll contribute two million, on the same terms as before.” Lu Feng looked at him and said, “This is the best I can offer. If you can’t agree, I will contact other major companies in Hong Kong, such as Golden Harvest.”
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