Chapter 667: 667
After days later, Feng Yu received a call from Liu Yonghao . There were good news and bad news .
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The good news was Feng Yu was welcomed to join the Guangcai Program, and the government had granted approval to set up a Guangcai Committee . This will be a government recognized organization .
There will be an organizing committee and Liu Yonghao promised Feng Yu that Feng Yu will be one of the members in the committee . The chairman and vice chairman of the committee will be selected from the 10 founders of this program .
In the future, Feng Yu can also volunteer to take part in the selection of Chairman . This was fair to everyone . The success of Feng Yu’s businesses was more than enough for him to run for the position of Chairman . He was more qualify than all the other members .
Although Liu Yonghao did not know how many shares Feng Yu owns in all those companies, those companies were all doing very well . Even if Feng Yu only owns 10% shares of those companies, his total assets were much higher than all of them .
Feng Yu was satisfied with this piece of good news . He was not interested in becoming the Chairman or vice chairman . It was good enough to be one of the members . He wants to be in charge of education . He knows that no one will vie with him for this role, as even if all of them add up, their contributions were not more than Feng Yu alone .
Feng Yu wanted to be in charge of education was because he knew how the people outside work . You donated 1 million RMB to build a building, but the cost of the project might be lesser than 500,000 RMB or lower .
Feng Yu did not want to donate money to build school buildings, and the buildings collapse in the future . If that happens, it will be too late to get hold of the one responsible . Lives will be gone!
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Feng Yu discussed with Liu Yonghao, and he agreed . He said that he will help to convince the other founders .
Feng Yu was delighted with this news . The bad news was also acceptable . Feng Yu was not really upset over it .
The bad news was companies which have Hong Kong shares were temporarily not allowed to invest in Minsheng Bank . Even if the company was owned majority by Chinese funds, it was also not allowed . So, many of Feng Yu’s companies were not allowed to invest in the bank as Fu Guangzheng owns shares in those companies .
The other companies where only one person who owns the controlling stake of the company, was also not allowed too .
That means Feng Yu was not allowed to use several companies to invest in the bank and get a place in the Board of directors . Feng Yu thought back on his companies . Only a few of his companies could participate in this venture .
Wind and Rain Logistics should not be investing as Feng Yu’s brother-in-law was not interested . Tai Hua Agriculture products were eligible to participate, but the company does not have a lot of liquid assets . Tai Hua Trading was also eligible . But if Tai Hua Trading invested in Minsheng bank, then Feng Yu had to change the bank account, and there will be issues with settling the payments with Kirilenko . After all, ICBC bank had given Tai Hua Trading the green light to do international fund transfer, and the charges were lower . The transactions were also faster as a lot of paperwork were exempted .
Bing City Pharmaceutical was also eligible . But it needs the approval from the Bing City Government first . Will Zhang Ruiqiang agree to invest in Minsheng bank? Even if he agrees, the amount invested will also be minimal .
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Wind and Rain Battery Factory was eligible, but it does not have enough funds . The battery factory had used all its profits for its R&D, and its sales were only average .
The next company Feng Yu considered was Lehaha . Zhong Qingxian might not be willing to use the company’s funds to invest in this bank . After all, this bank might not be profitable anytime soon .
So, Feng Yu decided to not invest temporarily . However, Liu Yonghao told Feng Yu that he could invest as a private investor . That means Feng Yu could invest 100 million RMB out of his own pocket in return for 1% shares .
If Feng Yu invested and then disclose his wealth, he should have no problems getting a place in the Board of Directors even when he owns 1% shares .
Liu Yonghao felt apologetic towards Feng Yu . Feng Yu had shown his interest and his financial capabilities . But Liu Yonghao told Feng Yu that most of those companies were ineligible .
Feng Yu was okay with it . He was also not interested in investing a lot of his money . Minsheng bank would yield no returns for the time being . He will increase his investments 8 to 9 years later .
Feng Yu called Zhong Qianxian to tell him that he decided to halt Lehaha’s investment in Minsheng bank and its better for Lehaha to carry on with their development plans .
Zhong Qingxian was also relieved . If Lehaha were to invest its funds into Minsheng bank, his plans for Lehaha would be disrupted . Now, it was the best opportunity for Lehaha to grow rapidly .
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Lehaha had a competitor for its tea beverages . The competitor was Xurisheng Group .
In Feng Yu’s previous life, Xurisheng Group was China’s market leader in tea beverages and was the first company to introduce tea beverages . This company held the number one position until the year 2000 .
But in this life, the market leader of tea beverages had become Lehaha . No only Lehaha was the first to introduce tea beverages, it still owns the trademark for Red Tea .
But Xurisheng Group still introduced their product, and it was named as Ice Tea . But actually, it was Ice Red Tea .
Xurisheng Group Ice Tea was only sold in two provinces . It was because their production was not capable enough and their brand was not established .
If it wasn’t for Xurisheng Group Ice Tea was a carbonated can drink, no one will buy their products .
In this era, carbonated drinks were extremely popular in China . Letting out a loud burp after drinking a can of carbonated drink feels good . Also, many Chinese felt canned drinks were high-class products and were better than bottled drinks!
Xurisheng Group was considered an imitator . Lehaha had gotten the head start and had introduced the Refreshing series of carbonated drinks . They secured the number 2 position for the beverage sales for this summer . The number one position was still Jianlibao .
It was easy for Lehaha to suppress Xurisheng Group, but Xurisheng Group suddenly introduced a new product . It’s warm tea .
It will be the winter season soon, and carbonated drinks’ sales will drop . But Xurisheng Group introduced warm tea beverage now and Zhong Qingxian was pissed .
Zhong Qingxian was not able to beat Jianlibao, as Jianlibao had already been exported overseas . Jianlibao was also China’s top beverage company for years . But Xurisheng Group was a newly set up company and was now trying to snatch Lehaha’s market share .
Don’t you know that Lebaishi’s carbonated drinks were also beaten by us?!
Lehaha will also be introducing warm beverages . This warm beverage was Tang, a kind of powdered fruit drink!
Feng Yu had drunk Tang before in his previous life . Also, there was nothing special with the taste, but it felt good during winter . The Chinese were used to powdered beverages in the era because of another popular product in China . It was a foreign brand drink . Cola Cao!
Lehaha had been researching Cola Cao’s formula . But they were unable to replicate the taste . Even if they produced a product that tastes similar to Cola Cao, it was also useless . Cola Cao had entered the Chinese market in 1990 and had set up a joint venture factory . It positions itself as a high-end nutritional drink . It will not be easy to beat Cola Cao .
But Zhong Qingxian did not want to give up . If Lehaha was able to establish their brand in the warm beverage market, then they will be able to rival and even beat Jianlibao .