Chapter 796: 796
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“Hello? Steve? I am Feng . I will be returning to China for about 3 months to conduct market research . ”
Ballmer was dumbfounded . You think I don’t know you want to return to China? Market research? You think we are idiots!
“Ok . I will email you if we need you . ”
It was almost the end of December, and Christmas is around the corner . Christmas is an important festival in the US . But Feng Yu was not interested . He just wanted to spend the New Year Day back in China .
The Empire State Building’s ownership was still not settled . But Hideki Yokoi had used his measures to take back control over the building . In another one to two months, the building will be ready to be transacted . Donald had also sued those two long-term tenants, and he told Feng Yu that he was confident that will win the lawsuit . Those tenants will be forced to stop the lease agreement .
Feng Yu will not interfere in all these . He was only interested in acquiring the building . He even leaves the renovations to Donald .
Kirilenko also needed to return to Moscow to settle some businesses . He also needs to prepare the funds for the new software company . Elena also returned to Moscow with Kirilenko . On the other hand, Feng Yu flew back to Hong Kong .
“Brother Feng, you finally come back . Do you enjoy your time in the US?” Li Zekai gave Feng Yu a hug .
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“It’s so boring there . But I had to go there to survey first . I intend to set up branch companies and factories there in the future . ”
Feng Yu was not lying when he said this . He felt this was an excellent time to enter the US market . AIWA had a factory in the US, and Wind and Rain Electronics, home appliances, should also set up factories there . Feng Yu also want to take back control over the distribution channels in the US .
It was dangerous for Feng Yu to let the Fu family have full control over the sales of his products . If there were any problems with the Fu family’s distribution networks, he would have no way to rectify the problem .
Of course, Feng Yu will still work with the Fu Family now . But he needs to separate the Europe, US and Asia markets .
Setting up factories in the US might be expensive, but Feng Yu would save on transportation and importation taxes .
Feng Yu had discussed this with Fu Guangzheng about this, and Fu Guangzheng understood his decision . Anyway, Fu Guangzheng still has shares in these companies and could still make money .
“Brother Feng, have you tried any blondes in the US?” Li Zekai asked with a lewd smile .
Feng Yu glanced at Li Zekai . This idiot was the same as the rumors . He just likes to try women of different nationalities all over the world . Feng Yu heard from Fu Guangzheng that Li Zekai had changed girlfriend again .
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But Fu Guangzheng had no right to laugh at Li Zekai . He was also the same as him . He said this was the benefit of having an older brother . Their fathers are strict with the oldest son and do not really restrict them .
“Brother Feng, you really do not know how to enjoy life . What’s the use of making so much money if you don’t know how to enjoy it?” Li Zekai shook his head . Feng Yu was different from everyone he knew .
Li Zekai thought about this . This might because they were all wealthy second-generation and Feng Yu was a wealthy first generation .
“My target is to exceed your father . ” Feng Yu said this, and Li Zekai kept quiet .
Hmph, you dare to make fun of me?! How can I exceed your father if I just focus on enjoying life?
“Oh, Tai Hua Supermarket opened a few more hypermarkets . Some places are not suitable to set up hypermarkets . So, we only open supermarkets there . ” Li Zekai changed the topic .
Li Zekai was not very happy with what Feng Yu said . Who was his father? Superman Li! Asia’s richest man . Feng Yu wants to exceed his father? Although Feng Yu’s assets had been growing, his father’s assets are also increasing .
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“How many hypermarkets and supermarkets do we have now?” Feng Yu asked .
“36 hypermarkets and 14 supermarkets . There will be 2 more supermarkets opening next month . ”
Feng Yu frowned . The rate of expansion was faster than he expected . At this rate, they will have more than 100 hypermarkets and supermarkets in 2 years .
“Are there any dividends this year?” Feng Yu asked .
Li Zekai shook his head . “We had invested all our profits back into the business, and we still owe the banks . We will also not get any dividends next year or the next 3 to 5 years . ”
Feng Yu nodded . He knew this would happen during the initial stage of expansion . Some of their supermarkets might not be profitable, let alone the hypermarkets . If they did not get any bank loans, they had to slow down their expansions .
But after the initial few years, Tai Hua Supermarket Corporation will bring in high profits .
“Have Carrefour and Walmart set up branches in China?” These two companies had massive funds, and if they enter the Chinese market, they will slow Tai Hua Supermarket’s expansion plans .
“Carrefour had opened a branch, and Walmart is preparing to open one branch in a few months . These two companies had gotten the locations the branches from us . But the prices they bid were much higher than us . ” Li Zekai and Fu Guangzheng had been monitoring these two companies closely .
“What are we going to do? Let them set up more branches or……”
“Of course not . We decided to surround them and suppress them . We will increase our promotional efforts in the branches of the same cities . We will market our brand as China’s homegrown brand . We will also make use of the media to attack their reputation and brands . Don’t worry . We will not make up stories . We will only report the truth . ”
This idea was from Fu Guangzheng . His family’s supermarket was attacked the same way in Southeast Asia and suffered massive losses . Luckily, his father was able to react fast and pull out of the Southeast Asia market in time to stop the losses .
“What about the other supermarkets in China? Are they a threat to us?”
“No! They might be doing well in their local regions, but they are only limited to 3rd, or 4th tier cites . No other supermarkets can compete with us in the 1st and 2nd tier cities . No local supermarket companies dare to stand against us!” Li Zekai replied proudly .
All the companies that stood in front of Tai Hua Supermarket in the past suffered massive losses . Now, Tai Hua Supermarket had firmly secured the top tier cities, like Beijing and Shanghai, and 2nd tier cities markets .
No other supermarket companies can compare to even a tenth of Tai Hua Supermarket’s funds and scale . How are they supposed to go against Tai Hua Supermarket?
Feng Yu had a smile on his face . Tai Hua Supermarket will be taking over the whole Chinese market……