After Lu Feng left, the atmosphere in the room improved considerably. Everyone was toasting and laughing, and at least they all had smiles on their faces.
Li Quanliang gathered General Manager Zheng, General Manager Hou from TCL, and some other medium-sized enterprises together. He understood that the market was currently chaotic, and if they wanted to make a profit and capture a share of the VCD market, there was only one way: squeeze out the others.
These people have temporarily formed a united front, and Lu Feng is no longer a threat. The remaining task is to fight against other pirates. At the same time, Li Quanliang has also signed a private agreement with President Zheng.
He promised that if Jiafeng Electronics went bankrupt and restructured in the next few months, he would mortgage the factory buildings, patents, sales channels, and brand names of Desheng and Dejin companies in exchange for an interest-free loan of no less than 300 million yuan from Li Quanliang, and up to 500 million yuan!
Few state-owned enterprises in the country can commit to such a large sum of money at once, and Changhong is one of them. Since it overtook Panda in the television market in the early 1990s, it has been profitable every year.
After receiving the agreement, General Manager Zheng was extremely excited. His life was about to take off, and the dream of a small company swallowing an big one was no longer just a dream. Li Quanliang was also very happy to see him.
Only Lu Feng could clean up this mess at Jiafeng Electronics. He bet that President Zheng wouldn't be able to repay the money within two years, or even a year.
General Manager Zheng wants Jiafeng Electronics, but Li Quanliang wants them all!!
After the tea party ended, Huang Youwei hurriedly met with the local finance officials and the local bank officials to hold a meeting on a plan to prevent the collapse of Jiafeng Electronics. The content was simple: everyone pooled their money to support Jiafeng Electronics.
Often, when businessmen are at their peak, they truly are. They ride in luxury cars and are greeted with smiles wherever they go. When big entrepreneurs visit smaller places, local leaders have to accompany them. In the eyes of ordinary people, they are definitely important figures.
But when it comes to desolation, it is also exceptionally sorrowful. If Jiafeng Electronics is likened to a person, this person is not yet dead, but a group of brothers and friends are standing in the yard playing suonas, wailing and crying on the surface, saying "brother, rest in peace" while their hearts are fixed on this family.
The following day, newspapers in many places published calls for patent protection, improved patent laws, and standardized market competition mechanisms, but these were just empty words.
Sales have plummeted by nearly 90%. Previously, truckloads of goods were being transported all over the country, with highways and waterways operating simultaneously, creating a bustling scene. But in just a few days, the warehouse's inventory limit has already been reached.
The new factory has completely shut down. When the workers arrived, they were just cleaning and attending classes. Many of them were distracted, and some were already asking around about other factories, preparing to pack up and leave.
When a building is on the verge of collapse, a wise person will not stand under its walls. There are too few people who are willing to weather the storm with the company. Although we have experienced many crises before, none were as severe as this, and there was no production stoppage.
In addition to the daily newspaper reports, there were rumors circulating privately that the company was going to be acquired by state-owned assets. Some people also said that Jiafeng Electronics originally started by relying on the Panda branch factory, and now it was going to be taken back.
The news of its nationalization spread the most, and some newspapers even started reporting it. Lu Feng sat in his office reading the newspaper, wondering if Huang Youwei was testing the waters by leaking information to the outside world.
Zhang Fengxia knocked on the door, walked in, and looked tired. She sat down opposite her and sighed, saying, "This factory is alright. Wepuda is still producing, and there are still products like tape recorders and radios. The new factory has stopped production, and a new factory manager has been appointed. People are in a state of panic, and we can't calm them down."
"Don't worry, do you know what we have in abundance in China?" Lu Feng held a newspaper in his hand, covering his face.
"What?"
"So what if they all leave? With such high salaries, even if they all leave, you can recruit ten or twenty thousand people in a week, right?" Lu Feng put down his newspaper, his face beaming with interest. "Do you still remember Zhuang Yuntian?"
"That idiot you tricked?" Zhang Fengxia asked, puzzled. "What happened?"
"He still holds convertible bonds of Jiafeng Electronics. Hasn't he always wanted it to be nationalized?" Lu Feng chuckled, put the newspaper on the table, and said, "I'll find his phone number and tease him a bit."
Zhang Fengxia was speechless. If it came to having a good mindset, ten of hers wouldn't be as good as his. He still had the mind to tease others at a time like this.
Lu Feng found Zhuang Yuntian's phone number and called him.
"Hey! Mr. Zhuang, this is Lu Feng, from Jiafeng Electronics." Lu Feng leaned back in his chair, a smile on his face, and teased, "Let me tell you, that thing we talked about back then is almost done."
Zhuang Yuntian on the other end of the phone rolled his eyes. Not long ago, he told headquarters that investing in Lu Feng was the right decision. Before Lu Feng's second round of financing, they should convert the bonds into equity. As soon as Lu Feng raised funds, they would make a profit immediately.
He was praised by his boss at the time, but a few days later the situation took a dramatic turn. He was told to continue holding the bonds, and if the company went bankrupt, he could get his money back.
"President Lu, investing in you was the worst thing I've ever done in my life, understand? The worst thing, without a doubt!" Zhuang Yuntian said through gritted teeth, "Your investors are all crazy. Mr. Feng is so old, couldn't you have let him live a few more years?"
"What kind of talk is that? Back then, we said that if Jiafeng Electronics were nationalized, your little bit of money would increase tenfold. Isn't this your chance?" Lu Feng asked with a smile, "Such a good opportunity, let's buy some more. If we don't buy now, we won't be able to buy any more. Maybe I'll sell them in a few months."
"Go to hell, you liar!" Zhuang Yuntian cursed angrily and hung up the phone.
Lu Feng leaned back in his chair and laughed, as if teasing a child, and said to Zhang Fengxia, "He called me a liar. People these days can't tell right from wrong."
"What's next? Give me some reassurance." Zhang Fengxia sighed and said, "The market is tough. Even General Manager Zhu has stopped work and is resting at home, saying he doesn't want to look at the reports. The only person who's busy is Wei Yandan."
This chapter is not finished, please click the next page to continue reading!
Continue read on readnovelmtl.com
