The next morning, Lu Feng got up, ate breakfast, and went to school or work. At 8:30 a.m., the first meeting about the electronics mall officially began.
The electronics mall project team was also meeting Lu Feng for the first time, and several of the relevant executives seemed a little nervous.
"I need to talk to President Lu about the recent interview with the Gome boss. We're almost done with resource integration and goods procurement. Half of them are our products, right?" Wei Yandan asked the group.
"Yes, the original small appliances have also been arranged. We have signed supply contracts with 30 new suppliers, which basically cover the vast majority of home appliances. The prices are also relatively low because we use our own logistics system."
"I'll show the report to General Manager Lu in a bit."
After studying the work on the table for a long time, everyone breathed a sigh of relief once they confirmed that everything was in place.
The conference room door opened, and Lu Feng stepped in. Seeing Wei Yandan, he asked, "President Wei, have you eaten?"
"We've already eaten, please have a seat. These are the current project leaders for the electronics mall. We haven't established a subsidiary company yet; we've just set aside a department for management," Wei Yandan explained.
Lu Feng glanced at the group, sat down, and asked, "I heard the CEO of Gome gave an interview?"
“We’ve heard about it too. The electronics store hasn’t even opened yet, and the atmosphere is already tense. Some people are even saying privately that we want to do everything and that we’re suspected of monopolizing the market,” Wei Yandan said helplessly.
"Regarding the electronics malls, we won't follow their lead. We'll do our own thing! That way, outsiders won't say that Jiafeng people are warlike and always fighting. We'll just open a few electronics malls of about 2,000 square meters each in first-tier cities. The first batch will be planned to have ten malls. How much will the total investment be?" Lu Feng asked.
"Mr. Lu, we've made a budget so far. Based on the land prices, rents, labor costs, decoration costs, advertising costs, transportation costs, etc. in the top ten cities, we've calculated that the average initial investment for each company is estimated to be around five million, and for ten companies, it's estimated to require five hundred million!"
“Five hundred million is not much!” Lu Feng nodded and said, “Then let’s open one before the end of the year, and we can take our time with the others. But the plan needs to be grand. I need a grand plan for the electronics city and a development report.”
Wei Yandan has been by Lu Feng's side for quite some time, and she previously paid great attention to projects such as overseas markets, VCDs, and pagers.
He personally oversees everything, and if there are difficulties he can't handle, he rushes to the front line to deal with them himself.
However, Lu Feng didn't seem too concerned about the electronics store this time. He seemed to need something, but didn't want to invest too much money.
Lu Feng really didn't want to run an electronics mall, but investors needed him to make promises for them. If he wanted to do R&D, nobody would give him money.
Only by developing an electronics mall and touting Jiafeng Electronics Mall as a large-scale chain electronics mall in the United States can there be a future, and most of the funds will still be prioritized for R&D companies.
Moreover, Lu Feng is starting to get a little anxious. As his shareholding decreases, Jiafeng Electronics' expansion and market value growth must satisfy the board of directors. Although the board meeting has not yet been held, Lu Feng will face pressure this year.
Throughout the meeting, Lu Feng seemed somewhat perfunctory, only repeatedly mentioning the need to control costs, that the expansion of the electronics mall should be slow and cautious, and that a pilot program should be launched in Shenzhen first to gather data and develop a management system before further expansion.
Anyone who knows Lu Feng even slightly can see that his heart isn't in the electronics store at all.
The meeting lasted for two hours in a relaxed atmosphere. The people in charge were initially worried that President Lu would be too serious, but they didn't expect that they could get things settled with just a few words and laughs.
After the meeting, Wei Yandan looked at how happy they were and didn't say anything. She had originally thought that they would have important positions within the group, but now it seemed that they didn't have much of a chance for promotion.
After the meeting, Lu Feng went straight to the R&D company and gathered together a group of senior executives from Liucheng.
"Did President Ni leave?" Lu Feng asked Liu Cheng.
“He left today. He came over after finishing up what he was doing. I can tell he still wants to do something, he has that kind of urge,” Liu Cheng replied.
"We'll set up a separate project team for him, and he can focus his efforts on whichever area of research he wants!" Lu Feng said in a deep voice.
"Mr. Lu, are we really going to make computers?" Liu Cheng asked in a low voice.
"Not necessarily, we'll see!"
"If we invest so much money and have the technology, but don't produce it, isn't that a waste of money?"
"How could it be a waste of money? We can sell the technology patents for licensing later, to Lenovo!" Lu Feng said earnestly.
"Huh?" Liu Cheng was both amused and exasperated upon hearing this, and nodded in agreement.
"Alright, let's get down to business. It's almost October, and 1994 will be over soon. The group has developed very rapidly this year, and the progress of the R&D company has also been made by leaps and bounds. In particular, we have obtained 1,600 patents for the three products of television, pager, and VCD, including more than 300 core patents. That's very good, and I'm very pleased!"
"However! I want to tell you all that next year we need to accelerate and move forward at a faster pace. We are still far from the world's top level, and there is a huge gap between us and companies like Sony, Motorola, Panasonic, and even Samsung. The gap in core technologies is too large."
"Why do we attach so much importance to R&D? I coaxed, tricked, and even concealed the money we raised and stuffed it into the R&D company, just hoping to get it faster, faster and faster. What are you? You are the heart. With a strong heart, we are not afraid of anything."
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