Those present were momentarily speechless upon hearing this, but a reduction in routine financial expenditures would certainly start with employee salaries, since employees are the easiest to manage.
"I've told you many times, how much money can you make by taking money from the poor?" Lu Feng said to Boss Bao, "You have to take money from the rich. This debt of 800 million is not much in terms of the group's total assets. We have factories, land, machinery, markets, brands, and patents. Let alone 800 million, even 8 billion is not a problem. Be bolder!"
Mr. Bao's face must be very wrinkled. This is really not how you live. After thinking for a moment, he still spoke up: "Mr. Lu, we still have 200 million yuan in debt to Suzhou Bank, and we also have a lot of debt to municipalities in various places. The current total debt has reached 1.2 billion yuan. If we include the debts borne by suppliers and distributors, it is estimated to be close to 1.5 billion yuan."
A debt of 1.5 billion yuan is a figure that would make any private enterprise in China shudder.
So much debt wasn't accumulated in a day. Jiafeng Electronics started in Suzhou, and Lu Feng had borrowed everything except for less than 200 million yuan in cash. And to this day, apart from a little interest, he hasn't paid back a single penny.
However, Lu Feng felt that it was not enough. The bigger the dream, the bigger the stage. From the beginning of the year until now, he has been struggling, but the internationalization route has been progressing very slowly. There has not been much progress in overseas markets, and he has been completely stuck at the technical level.
The gap between domestic and international companies is like a chasm! In its previous life, Lenovo paid a price that most companies could not afford to pay in order to bridge this gap.
Regarding the company's debt, the entire finance department discussed it from various perspectives. Their advice to Lu Feng was to stabilize the situation. As long as things stabilize, it won't take too long. In five years, Jiafeng Electronics will become an undeniable force in Greater China.
If we do well in R&D, marketing, and branding, Mr. Bao's answer is that going global within ten years is no problem at all.
This time limit would be enough to make any private enterprise boss in China so excited he couldn't sleep. Ten years of steady progress would allow his company to go international; there's nothing more satisfying than that.
Mr. Bao saw the potential of Jiafeng Electronics. As it stands, Jiafeng Electronics already has the potential to become a behemoth; it just needs time.
Of course, in order to make this boss less troublesome, the finance department was actually making empty promises. They said that as long as he could just eat, drink, and have fun without working hard, the company would naturally become an international company ten years ago.
Other company executives all advised their boss to work hard, but only Boss Bao and his group racked their brains to tell Lu Feng to settle down.
Lu Feng flipped through the group's financial statements in front of him. He really couldn't wait ten years. Ten years later would be 2004, the time when the mobile phone industry would explode. At that time, Jiafeng R&D Company would have to have the ability to replace MediaTek.
If Lu Feng wants to make a name for himself in the domestic chip industry, he must seize the opportunity presented by the era of generic domestic mobile phones after 2000. If we consider this, Lu Feng really doesn't have much time left.
“The debt problem has never been the problem; the problem is time. The R&D company must step up its efforts. We must expand our reach this year.” Lu Feng closed the folder and said, “Next year will be 1995. Time waits for no one; it will be June soon.”
"Huh?" Boss Bao raised his eyelids to look at Lu Feng, his voice trembling slightly. He was such an old man, and had worked in the bank his whole life. His greatest ability was to ensure that the company's finances remained stable and improved.
However, at this moment, the old man was very unconfident when facing Lu Feng, because he could tell from Lu Feng's words that this guy was going to cause trouble again.
“I have a general understanding of the financial situation, so you don’t need to worry about that. Money isn’t really a problem. We’re due to release the mid-year report to shareholders soon, so let’s not delay. We spent so much money acquiring overseas laboratories this year, and shareholders are quite concerned about that.” Lu Feng stood up as he spoke and said, “That’s all for now.”
As Lu Feng left, the deputy general manager of the finance department turned to General Manager Bao beside him and asked, "General Manager Bao, what did General Manager Lu mean when he said that time waits for no one?"
"It means speeding up." Boss Bao sighed and said, "These young people really don't understand, and there's nothing we can do about it."
Inside a private room in the cafeteria, Lu Feng sat eating lunch. Since returning, he had reorganized the entire group. The domestic market had stabilized, and even the competition in the television market was within a certain range.
When competition is at a stalemate, a company has essentially established itself. As the market gradually expands, its market share will increase, and it will earn more and more money.
It's just a matter of time, which is why Premier Bao dared to say that Jiafeng Electronics will definitely go global in ten years.
Once the domestic situation is stable, we need to focus on the international arena.
Eight or nine people at the table were eating in silence. Lu Feng didn't speak, and no one dared to open their mouths. After a while, Lu Feng picked up a piece of food with his chopsticks and said, "By the way, isn't there some kind of dinner party tomorrow? The one that Elmi is going to."
"The dinner party organized by Nokia, right?" Du Guoying asked. "They sent over the invitations. I heard that in the last two months, they have suddenly opened up the European market, and with the good performance in the domestic market, it's a great start."
"Anyway, Nokia has started to get arrogant lately," Wei Yandan continued. "I heard that Elmi said in public that once Nokia rises, no company in the world can stop it. It's been quite a lively scene lately."
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