Dr. Li was persuaded by him. Jason was right. If he didn't sell, he would go bankrupt. If he sold, he might be able to get back on his feet.
They knew about his dispute with the bank and that he was short of money. The initiative was in their hands; it wasn't up to Dr. Li to decide.
Dr. Li was somewhat dejected. "The minimum is 12 million! I can't accept anything less than that."
Jason chuckled, adjusting his glasses. "Dr. Li, your shares can still be sold; they're not completely unsellable. You've only lost half; you still have half left. The maximum price we can offer from Mandarin is 10 million. We'll buy all your formulas and existing inventory, along with the patents and brand. From now on, Dr. Li, you can't continue selling skincare products with the same formula under the name 'Liuguang'."
Dr. Li knew all this, but he felt the price was too low.
His stores can make a lot of money every year. Mandarin acquired Liuguang and can break even in two or three years. The price is not high at all.
Jason, however, kept trying to lower the price.
Jason seemed to read his mind and smiled, saying:
“Dr. Li, Mandarin is a legitimate company and we have been very kind to you. If it were any other company, they wouldn’t even give you five million, let alone one million! You’re being chased by the bank for debt, and they would have to agree to give you one million. There’s no other way. Things have come to this point, and we have no choice but to compromise.”
Dr. Li knew he was right.
If Mandarin doesn't buy it, it will be difficult for Dr. Li to find someone else who appreciates Liuguang. Rather than letting his years of hard work go to waste, he might as well sell it to someone else.
Dr. Li slumped onto the sofa, "Fine, ten million it is!"
Jason raised an eyebrow. "I set the price, but I still need to talk to the boss about the specifics. Show me all the formulas you have. If you have a lot of formulas, the boss will think you're sincere and might just approve the transfer of money to you! For you, how quickly the money arrives is a matter of life and death. So, it all depends on your sincerity."
Dr. Li understood what he meant. He still had several unfinished formulas. Although they hadn't been officially launched yet, if he sold the formulas and let Mandarin's lab continue the research and development according to his ideas, he could have more formulas.
After Jason returned, he told Chu Yu about the results of his negotiations.
Chu Yu stared at Jason for a long time. She had to admit that Jason was quite good. He was efficient, decisive, and didn't try to take the lead. He had made up his mind and would tell Chu Yu later so that she could make the final decision.
To be honest, the price was lower than Chu Yu had expected. Since Jason was able to negotiate it down, Chu Yu had nothing to complain about.
"No problem. Have Dr. Li prepare the prescription, and let Mandarin's accountant prepare the money."
“Okay, I’ll contact Mandarin’s staff right away.”
Chu Yu nodded. She was only responsible for making decisions. Specialized tasks should be handled by specialized people. She had hundreds of employees, and if she had to do everything herself, her salary would be wasted!
Once she sets the price, she needs Liu Mingchuan and Wang Cainian to send some people over to check the formula and see if it's genuine. Then, the legal department will draft the acquisition contract, and all departments will coordinate well. They'll also need to hire lawyers to mitigate risks. Once everything is done, they can proceed with the next steps.
When Li Miao learned in China that she had acquired a brand, he was completely surprised and even made a special call to Chu Yu.
"Is this brand really good?"
“I think it’s good, but a professional evaluation requires our team to come and see if there are any problems with its formula. But from the user experience, this brand’s products are very stable, which may provide new ideas for Mandarin.”
Chu Yu felt that once the brand grew stronger, it would be inevitable to acquire other brands. Acquisition meant that the brand's patents could be shared by other brands within the company.
Liuguang's patent can be used by Mandarin, but Mandarin will not be used by Liuguang. After all, Mandarin is more expensive. If Liuguang's formula is the same as Mandarin's, who would pay a high price for Mandarin?
However, the discarded formula of Mandarin can be used by Ryuko, so that customers who cannot afford to buy Mandarin can enjoy Mandarin's patented technology at a lower cost.
“Acquisitions are an essential part of brand growth. Now that we have two brands, Mandarin and Liuguang, it’s up to you how to make them bigger,” Chu Yu said.
Li Miao smiled. Naturally, she felt it was her duty to help. She was now handling company affairs and watching the brand grow from nothing to something, which made her feel very comfortable.
It's like raising your own child, watching them grow from a helpless infant to a fledgling, independent individual, until they grow up strong enough to leave you and soar high in the sky!
By the time that time comes, when Mandarin and Liuguang have fully developed their capabilities, their brands will surely be famous both at home and abroad!
After giving his instructions, Chu Yu embarked on the most important part of his trip to the port city—viewing and purchasing land!
Just as she had predicted, good plots of land in Hong Kong were rarely sold. These plots were expensive and only circulated among the city's wealthy. In her previous life, Chu Yu knew a tycoon who bought a plot of land in Hong Kong and spent billions to build a villa. The sea view there was truly exceptional.
Chu Yu was extremely envious. He never imagined that he would have the chance to become a tycoon in his lifetime, to return to Hong Kong in the late 1980s, and to buy land and build a villa on the hillside of Hong Kong.
Chu Yu didn't know many people in Gangcheng, so she asked Yu Xiangwen to help her look at land. Yu Xiangwen didn't expect her to be so persistent about building houses. You know, she's a woman, it's fine to do business, but why is she always thinking about buying and building houses?
The two climbed towards the top of the mountain, with the real estate agent walking in front and the two women following behind.
"Tell me, how many houses do you own in Gangcheng?" Yu Xiangwen asked.
"Less than twenty sets," Chu Yu said casually.
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