Extraordinary Genius - Chapter 202 – Buying into Le Ha Ha Part 1
Feng Yu was CCTV’s biggest client, and Cheng Baojun was worried that this kid would turn his back on the deal. He could only agree with Feng Yu’s request. He promised Feng Yu that he would get 3 more advertising slots.
That evening, Zhong Qingxian wanted to return a treat to Feng Yu. He looked for a restaurant which was about the same grade as Little Sheep Hotpot. With a black wallet in hand, he walked into the restaurant with Feng Yu.
Once again he saw Feng Yu’s fanciful ordering style. Feng Yu flipped to a random page of the menu and pointed out a few dishes which he does not want and ordered the rest!
Zhong Qingxian really wanted to spit on Feng Yu’s face. There were only the two of us, how can we finish all the food?
Feng Yu was still asking him to eat and drink more. Zhong Qingxian was trying his best to finish all the food. He was not someone who was wasteful.
About half an hour later, Zhong Qingxian was full. He saw that there were still lots of leftovers on the table and felt the pain. He used the toilet as an excuse to leave the table for the front counter. He wants to pay the bills first.
“Sir, your table was already paid in excess. If you are leaving soon, we will give you your change.”
Zhong Qingxian was reaching for his wallet when he heard this. He looked at the waiter. At first, he was happy and thought that someone else had paid their bills by mistake, but he became embarrassed when he realized that Feng Yu had gone to the toilet earlier.
The dinner for these two days was paid for by others, and he was embarrassed. Feng Yu was so much younger than him, and he was the one who had invited Feng Yu out for dinner. He felt like he was taking advantage of a young kid.
“Manager Feng, why are you paying for this dinner? I had said that I will be treating you.” Zhong Qingxian reached for his wallet in his pocket to return Feng Yu the money. But after reaching for quite some time, his hand was still in his pocket.
Feng Yu was laughing in his heart, but he still stopped Zhong Qingxian: “Mr. Zhong, you don’t have to be so polite to me. You can treat me when I go to Hangzhou next time.”
Zhong Qingxian took out his hand from his pocket and said embarrassedly: “Thanks for paying. Next time must be my treat.”
“Mr. Zhong, we had finished our dinner. How about we have some tea back at the hotel?”
Zhong Qingxian paused for a while. He knew that Feng Yu wants to talk about him buying a stake in his company, but he could not refuse Feng Yu. Feng Yu had just treated him to another dinner, and if he rejects Feng Yu’s offer, it will look bad on him.
“Mr. Zhong, have you considered the things we spoke about yesterday? How much do you need? Tell me a figure.” Feng Yu wanted to settle this deal as soon as possible.
In his heart, he was smiling to himself when he thinks of buying a stake of Le Ha Ha.
“Manager Feng, even though my company has a lack of funds now, we can still get a loan from the bank. So even if I agree to let you buy a stake in the company, I cannot give you a lot of shares.”
Zhong Qingxian starts to play little tricks. His company was expanding the factory using the loans from the bank. He still owed his suppliers money for raw materials and his workers’ salaries. He and his two other partners did not get a single cent of wages for the past six months.
He said this was because he wanted Feng Yu to invest but at the same time, he does not want to sell a lot of shares. He was hoping for this Feng Yu to agree,
Feng Yu laughed. Since you said this, then don’t blame me if I take over Le Ha Ha in future.
“No problem. Mr. Zhong, how much do you need and how much shares can you give me?”
“How about 5 million RMB for 10% share?”
5 million RMB for 10% shares? That means that Le Ha Ha was worth 50 million RMB! After deducting the loans and debts, the company was at most worth less than 20 million. This Zhong Qingxian really had the nerve!
Feng Yu narrowed his eyes and suddenly laughed: Mr. Zhong. It is easy for me to find out about your company’s assets. I am wealthy, but that does not mean that I will squander my money. I am investing my money to make more money. 5 million RMB for 30% shares is more reasonable!”
“Impossible!” Zhong Qingxian rejected Feng Yu’s offer. Even if he and his two other partners sold the shares to Feng Yu based on proportions, his control over the company would be lowered, and his position as the boss would be threatened.
“6 million for 30%.” Feng Yu sat on the chair and crossed his arms confidently.
“Manager Feng, you……”
“7 million for 30%!” Feng Yu did not give Zhong Qingxian the chance to speak and continued to increase his offer.
Zhong Qingxian’s breathing became fast. He did not expect Feng Yu to negotiate in this manner. Who the hell would just increase the offer without giving the other party the chance to speak? But he got to admit that this negotiation style was effective. At least he did not have the opportunity to say the things he wanted to say.
“Manager Feng, the number of shares is too much.” Zhong Qingxian calmed himself and said.
Feng Yu laughed: “Mr. Zhong. It seems like it is not the price you are unhappy about. You are afraid that I will buy over the shares of your other partners and take over Le Ha Ha.”
Zhong Qingxian was not embarrassed when Feng Yu said what was on his mind. Yes, he was thinking about this. He had set up this company through his own hard work, and because he had a lack of funds, he had to get two of his friends as partners. He must have the full authority if this company!
“10 million for 40% shares. This will be my final offer! Don’t be so anxious to reject me. I can include a condition in the contract. If you did not make any major mistakes, you would still be Le Ha Ha Company’s legal representative, General Manager, and decision maker!”
Gold and money have value, but talents are priceless.
Zhong Qingxian had used very little capital to lead Le Ha Ha to be China’s leading beverage company within 10 years and remained as the leader for many years. Just this achievement alone was worth Feng Yu investing in him.
Furthermore, Feng Yu remembered that this year, Le Ha Ha sales would achieve more than 10 million RMB and there was even a shortage of Le Ha Ha products on the market. With his investment, there would be an increase in production and the sales figures would be even higher. Just the northeast region would contribute a vast amount of profits.
The profit margin for Le Ha Ha’s health supplement drinks was very high. Feng Yu could get back his investments within two years, and the rest would be pure profits.
Getting TV stars to sign the long-term contract was learned from Le Ha Ha. In his past life, one of Le Ha Ha’s subsidiaries had signed a long-term contract with a new not so famous singer. Later, this singer became very famous in China, and Le Ha Ha still uses this singer for its products marketing activities every year. Le Ha Ha gave this singer a red packet for the events he attended. When the contract ended, this singer extended the contract even he had a pay cut.
Zhong Qingxian was amazing when it comes to picking the right product, the understanding of China’s market, the company’s direction, brand management, sales, etc.
If Feng Yu could become partners with this person, he wouldn’t mind even if he does not have the controlling stake in the company. It would be better for him as someone capable is running the company and he does not need to worry.
Feng Yu slowly drank his tea. He believed that no one would be able to resist the conditions he offered!
10 million RMB for 40% shares and still let me run the company as the boss? I am also the final decision maker? With this injection of funds, the company can increase its production capabilities, occupy the market fast and become the leader in the children’s health supplement drinks industry.
Zhong Qingxian was in a dilemma again……