Li Zekai expressed his desire to be the General Manager, and Feng Yu and Fu Guangzheng both agreed. Actually, the General Manager was the most tiring position. Although the General Manager had a lot of authority, it was not a lot. Luckily, Li Zekai was still one of the directors and was considered the second-in-command of the company.
The 3 of them discussed over dinner, and the company's authority was divided among themselves. Next, it will depend on Superman Li and Fu Rongbing's attitude.
… …
That night. Li Zekai called Superman Li and Li Zeju over after dinner: "Dad, Boss, let's go to the study. I have something to say."
Superman Li looked at Li Zekai. Didn't I just give you 100 million USD this morning? Is there something wrong with the company? No. Feng Yu and that kid from the Fu Family had already invested in the company. Li Zekai's lawyer was also the Li Family's lawyer. That's why after the contract was signed, Superman Li knew about it immediately.
"Sir, is the company in trouble?" Li Zeju asked with concern.
Although the 2 brothers were not close, they were still brothers. Their relationship was not as bad as what the tabloids said. Also, Li Zeju had already been confirmed as the successor, and there was nothing for them to fight.
"Dad, Boss, I had signed the contract with Feng Yu and Fu Guangzheng today. They will invest 10 million USD each and will be the shareholders of Pacific Century Group. During dinner, we talked about China's investments … … "
Li Zekai told his family about their discussion. It was obvious that he only had 20 million USD with him. It was not enough to invest. Based on the results of their discussion, Fu Guangzheng, Fu Rongbing, Li Zekai and Superman Li will invest 30 million USD each for 15% of the company's shares. Feng Yu will invest 75 million USD for 35% of the company's shares. The remaining 5% of the company's shares will be sold at half price of 5 million USD to those key management personnel.
That's why Li Zekai still needs to borrow at least 10 million USD from his family and ask his father or his brother to invest 30 million USD. He also needs to transfer a few people from his family's supermarket department to manage the company. Most importantly, he still needs to use his family's supermarket's distribution channels to supply Tai Hua Supermarket Group.
"The total equity is 200 million USD. Why did Feng Yu add another 5 million USD?" Li Zeju asked curiously. Five million USD was not a lot to them, but it was not a small amount either. Who would be willing to pay more?
"The naming rights of the supermarket belongs to him, and he wants to be the executive supervisor."
"He wants to be an executive supervisor? Then who is going to be the chairman? "Li Zeju was surprised. He thought Feng Yu was going to be the chairman. Supervisors were not allowed to be the chairman or general manager of a company. Wasn't that giving up the company's greatest power?
"Fu Guangzheng will be the Chairman, and I will be the General Manager."
"Fu Guangzheng? Isn't that Fu Rongbing? Zeju, how is Fu Guangzheng? "Superman Li asked. Fu Rongbing had been managing supermarkets for many years and should be the most suitable candidate.
"I don't know much about him, but Hong Kong's Guanghui Trading had been managed by Fu Guangzheng for the past two years. It's just that I heard a joke, saying that he likes antiques, calligraphy, and paintings. There was once a small-scale auction, and when he appeared, he said that in order to attend this auction, he would not even hold a board meeting, "Li Zeju replied after thinking for a while.
These words had affirmed Fu Guangzheng's capabilities and at the same time, pointed out his weaknesses.
"Dad, Boss, let me add something. Many of Feng Yu's businesses in China are owned by Fu Guangzheng, and Fu Guangzheng is the one managing them. "
If this was not the case, why would Feng Yu support Fu Guangzheng to be the Chairman? It was also because of this that when Feng Yu supported Fu Guangzheng to be the Chairman, Fu Guangzheng did not object and asked for the position of General Manager.
"Fu Guangzheng is managing Feng Yu's businesses in China?" Li Zeju was puzzled. Feng Yu was the major shareholder, but he handed over the management rights to Fu Guangzheng. Why? Why did he trust Fu Guangzheng so much? Had they known each other for many years?
Superman Li knew what was going on. He looked at his eldest son: "Do you think a 20 years old young man will have the time to learn management when he is focused on investing?"
There were many geniuses in one area, but he had never seen a genius in all areas! Feng Yu was the Executive Supervisor, and it was enough for him to manage the company's finances. Everyone was managing the company to make money. No matter what, Feng Yu was the major shareholder, and he was the one making the most money.
Li Zeju suddenly realized that Feng Yu was not good at management. But even if he was not good at it, he could still hold the power in his hands. Li Zeju was impressed by Feng Yu's ability to hand over the power to someone else.
"Dad, I think Mr. Xi's investment is great. But why is the investment as high as 200 million USD? How many supermarkets are you all going to open? With China's economy, are you sure you all can make money? Have you all calculated how long it will take for you all to recover your investment? "Li Zeju asked.
200 million USD was more than 1 billion HKD. Feng Yu could set up at least 10 supermarkets. Other than Beijing and Shanghai, were there any other cities in China that were suitable for setting up supermarkets?
"Our initial plan is to set up at least 20 supermarkets at the same time. Our main expenditure will be the supermarket rental, shelves, marketing, and deposits. The total investment for each supermarket should be less than 100 million RMB. Although I am not familiar with China's economy, Fu Guangzheng had been in China for many years, and the Fu Family also owns supermarkets. He estimated that we can recover our investment within 3 years. "Li Zekai said.
"100 million RMB for each supermarket, and you all want to set up 20 supermarkets with this amount of funds? That means you all are going to get loans?" Li Zeju frowned. This was too much. Did they not consider the risks?
"That's right. We are going to get at least 1 billion RMB, and our target is to set up at least 50 supermarkets within 3 years. Within 5 years, we will set up more than 100 supermarkets!" Li Zekai said confidently.
"Did Feng Yu mention how long he thinks he can recover his investment?" Superman Li suddenly asked.
Li Zekai hesitated for a while, but in the end, he replied seriously: "Feng Yu said that he will recover his investment within 1 year, and then he will continue to invest in setting up new supermarkets."
"1 year? Are you kidding me? Can the supermarkets recover their investment within a year? Don't you know about supermarkets? Their profits will not be more than 15%. Most of the time, the profits are only 10%! If you want to recover 100 million RMB in a year, how much is your monthly turnover? 100 million RMB? " Li Zeju shook his head. This Feng Yu was too confident. Had he ever set up a supermarket before? Did he think the profits of supermarkets were high?
"Zeju, do you still remember our analysis on the profits of the Fu Family's first supermarkets?"
"Between 30% to 35%." Li Zeju quickly told him the figures he remembered.
Wait, what did his father mean? Could it be that the profits of their supermarkets in China were very high? Was this possible?
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