Chapter 685: A cash cow with a monthly turnover of 400 million

The preliminary auditions for 'Super Girl' are still in full swing, and more and more contestants are standing out. Many of them come from privileged backgrounds and are using their resources to increase their fame.

Global TV does not stop them from doing so. After all, this is a huge star-making campaign, and it's best if they are willing to do it themselves.

After all, the only ones who will benefit in the end are Global TV and Universal Music.

Anyone in their right mind knows the unspoken rule: as long as you are still in the competition, you must never sign with another music company.

Otherwise, you won't get anywhere!

Global TV is getting better every day, and other companies are not doing badly either.

Just like Jiuding Real Estate Group, once October began, property transactions skyrocketed.

This was mainly due to the land plot that Xia Yu had previously told Liu Shihao to buy, as well as the properties that were previously under development.

On the first of this month, the section of the Hong Kong subway from Shek Kip Mei to Kwun Tong officially opened to traffic, and along with it, property prices along the subway line skyrocketed.

It was crazy. The more the property prices rose, the more buyers there were.

The sales hall was packed every day with people looking at properties or taking part in the lottery.

Jiuding Real Estate Group had the most land along this section of the subway line, and of course it was reaping the biggest profits!

When Liu Shihao reported the turnover, Xia Yu just smiled and encouraged him.

According to media statistics, since the beginning of the year, the average price of residential buildings in Xiangjiang has risen by 52% compared to the beginning of the year.

In particular, after MacLehose returned from the mainland in April, he brought the words 'rest assured, Xiangjiang investors' from the north, which reassured most Chinese in Xiangjiang.

Xia Yu knew very well that Xiangjiang's housing prices will continue to rise!

He can't stop it, and instead of feeling sorry for himself, he should follow the trend of the times and grow his own business.

Generally speaking, the fourth quarter of every year is a time of significant growth in the consumer sector.

For this reason, Xia Yu specially called a meeting with the heads of the major subsidiaries of the Jiuding Retail Group in order to learn more about each company and make strategic adjustments.

The meeting was held in the Jiuding Building, and the heads of the 7-Eleven convenience store chain, Wellcome supermarket, Mannings pharmacy, IKEA furniture, and Jiuding electrical appliance companies were present.

Xia Yu sat at the head of the table, with the staff of the chairman's office sitting at the end taking notes.

His gaze swept over the faces of Fu Kai, Zhou Cheng, Wang Liang, Lin Sen, and Song Hai, and Xia Yu nodded with satisfaction.

'First, I will introduce the achievements of each company, and then I will raise the problems encountered during the development process. We will solve them on the spot if we can.'

After Xia Yu set the tone, he looked at Fu Kai, who was sitting on the far left. The latter understood, got up, bowed slightly to the people present, and then began to report on the achievements.

'With the strong support of the chairman and the parent company, the 7-Eleven convenience store chain has achieved leapfrog results. The company has been implementing the plan to open ten stores every week, and now has 450 stores, including 120 in Kowloon, 100 in the New Territories, 150 on Hong Kong Island, and 80 in Macau.'

'The company has 1,520 employees... Last month's total revenue was 107 million Hong Kong dollars...'

Xia Yu was not happy with this result. Instead, he frowned slightly. This expression fell into Fu Kai's eyes, and his heart gave a small thump.

In fact, in Xia Yu's opinion, this speed and revenue were indeed low.

He knew very well that in the future, in 2012, the 7-Eleven convenience store group would have more than 56,000 stores worldwide, including 16,000 stores in the island country alone.

The 16,000 stores on the island alone employ 300,000 people and generate annual revenue of more than 60 billion US dollars.

If you do the math, the average annual revenue of a store is 3.75 million US dollars, and the average monthly revenue is 310,000 US dollars.

But if you look at the 7-Eleven convenience stores in Hong Kong, the 450 stores have a combined monthly revenue of 107 million Hong Kong dollars, which is an average of 237,000 Hong Kong dollars per store, or just over 50,000 US dollars.

The gap with the island country is more than five times.

Although the time span is 40 years, Hong Kong is not mainland China, and the gap with Europe and the United States is relatively small, not to the point where the money has depreciated six times in 40 years.

Therefore, there is still a lot of untapped potential in the 7-Eleven convenience store chain.

After Fu Kai finished his report, he looked at Xia Yu uneasily. After discovering that the chairman had no intention of speaking, he let out a sigh of relief.

'Zhou Cheng,'

After Xia Yu called out the name, Zhou Chengli from Wellcome Supermarket stood up and bowed, then began his report.

'Reporting to the Chairman, Wellcome Supermarket Limited opened another new supermarket in Mong Kok in September. Currently, the company has 12 large supermarkets and 18 medium-sized supermarkets. The average monthly revenue of large supermarkets is around 6 million, and the monthly revenue of medium-sized supermarkets is around 3 million. Last month's total revenue was 132 million Hong Kong dollars...'

Xia Yu was satisfied with this result, but there was still potential to be tapped.

In the future mainland, as long as it is operated in a good location, a super-large supermarket of 10,000 square metres can achieve an annual turnover of 500 million yuan, and the monthly revenue peak can reach 41 million, which is 46 million Hong Kong dollars.

The large supermarkets here now generally range from 1,500 to 2,500 square metres, and a monthly revenue of 6 million Hong Kong dollars is certainly not bad.

Moreover, the population density in Hong Kong is much higher than that on the mainland, and the consumption level is naturally higher as well.

'Report to the chairman...'

Next, Wang Liang, Lin Sen, Song Hai and the others reported one after the other.

Mannings Pharmacy has expanded and now has 48 stores in Hong Kong and Macau.

IKEA Furniture City is relatively large, and so far it has only four flagship stores, three in Hong Kong and one in Macau.

Finally, there is Jiuding Electrical Appliances Co., Ltd., which Xia Yu heard about last month when Song Hai reported on it, so he will not mention it again.

Overall, the five subsidiaries of the Jiuding Retail Group are doing well.

Retailers have a terrible cash flow, but they can also pressure suppliers to pay for goods within one to three months.

The Jiuding Retail Group's monthly turnover can reach 400 million yuan, which is a solid cash cow and has made a huge contribution to Jiuding Bank.

'I have also listened to your reports, and generally speaking, they are all commendable.'

'However, apart from Jiuding Electrical Appliances, the expansion of the other four companies is currently limited to Hong Kong and Macau. Although this is conducive to laying a solid foundation, a year is enough. It's time to go beyond Hong Kong and Macau.'

Xia Yu concluded.

Lin Sen, the general manager of IKEA Furniture Co., Ltd., hesitated to speak, but Xia Yu nodded at him, and he immediately reported, 'Chairman, our IKEA Furniture situation is relatively special.'

'IKEA is a Swedish company. At the time of the Jardine period, IKEA franchised Jardine to open stores in Hong Kong, and all they had to do was pay a certain annual franchise fee.

'After you took over, this clause remained unchanged, except that IKEA only gave the franchise rights to Hong Kong and Macau. So if you want to expand externally, this is a problem you have to face!'