Chapter 1323: Family Office

Before he knew it, Xia Yu could no longer count the number of capable soldiers under his command. When he had some free time, he realised that he could completely be a hands-off boss.

Although it was definitely not as fast as when he was in charge himself,

But at the very least, healthy development and outperforming the market average is more than enough.

In high spirits, Xia Yu simply went on a field trip, going deep into each company to check on the situation.

Of course, it was limited to companies in Hong Kong.

But even in Hong Kong, there were a lot of companies under his banner, and it would be impossible to visit them all in less than a month, and that was still calculating the time with him visiting non-stop.

So Xia Yu could only visit selectively.

The first place he went to was the Jiuding Culture Media Group.

Previously, the Jiuding Culture Media Group was located in the lower floors of the Jiuding Building in Kowloon, but as the group continued to develop and expand, the original space could no longer accommodate it.

After consulting Xia Yu, the wealthy Jiuding Culture Group moved out and now owns an entire office building.

Yan Wenhan was immediately alerted by the arrival of Xia Yu, the chairman, who had not been here for a long time. The latter immediately dropped what he was doing and hurried to Xia Yu.

'Chairman, I'm sorry to have kept you waiting.'

'Do you want to go to the office and have a seat?'

Yan Wenhan said apologetically.

'No, walk with me and tell me about the current situation of the company,'

Xia Yu slightly shook his head to reject Yan Wenhan's proposal, and then commanded.

'Okay.'

...

Jiuding Media Group is now a super media giant with assets of over 140 billion Hong Kong dollars.

The biggest pillar is still Jiuding Newspaper Company, but the second most valuable is the listed Galaxy Movies Company.

Then in the second echelon are Jiuding Book Company, Jiuding Animation Co., Ltd., Global TV Station and Focus Media Co., Ltd.

This Focus Media Company, which was established less than a year ago, has an internal valuation of over 10 billion Hong Kong dollars.

Xia Yu gave it its name, and it was given access to resources from the very beginning, but it was still unexpected that it could develop so quickly.

The president of Focus Media Advertising Co., Ltd. is Chen Tianhua, a middle-aged man of only 38 years old who studied at the London College of Communication in the UK and was an outstanding Chinese person recruited from the UK through Korn Ferry.

Xia Yu had heard of his name, but this was the first time he had met him.

After meeting Xia Yu, Chen Tianhua respectfully greeted Xia Yu and Yan Wenhan.

Yan Wenhan, who was accompanying them, instructed Chen Tianhua, 'Mr Chen, take the chairman around the company and introduce the company's operations.'

'Okay.'

'The company was established less than a year ago, but thanks to the support of the parent company, it acquired five advertising companies at once at the beginning of its establishment, which strengthened its personnel and gave it a good start. Currently, the company has 1,064 employees...'

'Thanks to the resources of the group, the company's current clients include Jiuding Real Estate Group, Bright Dairy, Master Kong Foods, Cathay Pacific, Tiangong Electronics, and Tiangong Electrical Appliances...'

As they walked, Chen Tianhua introduced the company's situation to Xia Yu and the others as if he were reciting the names of family treasures.

Before they knew it, they had arrived at the company's finance office. Without Xia Yu having to prompt him, Chen Tianhua immediately asked the accountant to bring out the company's internal financial report for the first half of 1984.

'Chairman, this is the company's financial report for the first half of the year. Please take a look.'

Chen Tianhua respectfully handed Xia Yu the financial report in both hands.

'Let me see how good your results are.'

Xia Yu directly sat down on a stool and smiled as he flipped through it.

As he looked, a curve formed at the corner of his mouth, making Chen Tianhua, who was observing Xia Yu's expression, feel relieved and let out a silent sigh of relief.

In the first half of 1984, Focus Media's advertising company's revenue reached 2.59 billion Hong Kong dollars, and its net profit reached 1.25 billion Hong Kong dollars, with a net profit margin of 48.3%!

This is quite a terrifying revenue figure!

According to this data, if it doesn't grow in the second half of the year, it will maintain this data.

Then Focus Media's advertising company's revenue will exceed 5 billion Hong Kong dollars, and its net profit will reach 2.5 billion Hong Kong dollars.

If it were to go public, at a modest price-earnings ratio of 10 times, it would be worth HK$25 billion!

But with the resources of the entire Jiuding Group behind it, taking over the advertising business of the entire group, and cooperating with other companies with its reputation and connections, the future of Focus Media Advertising is destined to be bright.

This is the advantage of the consortium's resources. Entering any industry, it can grow rapidly like a snowball.

Once Focus Media Advertising was established, the two most difficult problems of funding and business development were solved, so it was hard not to grow!

"Very good results!'

After putting down the financial report, Xia Yu said with appreciation.

'Thank you, Chairman, for your praise. We have achieved these results thanks to the resources of other companies,'

Chen Tianhua said modestly, although he was very happy.

Yan Wenhan added, 'Chairman, Focus Media has set many records in the advertising industry in Hong Kong, such as becoming the largest advertising media company in Hong Kong just two months after its establishment.'

Xia Yu smiled and nodded, subtly reminding Chen Tianhua, 'Hong Kong is just the starting point. Focus Media has been able to thrive in Hong Kong, but that's just having a very good start. I hope to see Focus Media go beyond Hong Kong and Asia, and shine on a global scale.'

Chen Tianhua's heart trembled, and with a serious face, he lowered his head and said, 'Chairman, I will continue to work hard.'

'Well!'

'Do a good job!'

Xia Yu looked at Chen Tianhua with expectation, patted his shoulder and said encouragingly.

'Wenhan, let's go, let's go to other companies and have a look.'

...

After several days of visits, the overall situation of all the companies was good, but Xia Yu also found quite a few problems.

Some of the problems involved the corresponding companies, and he pointed them out to them in person and demanded that they be rectified.

However, some of the problems were at the level of the conglomerate, and he was the only one who could find a solution to them. No one else was at that level, nor did they have the authority to solve them.

That day, Xia Yu arrived at the Tiangong Electronics Group and met with Fok Kin Ning again.

The Tiangong Electronics Group never let Xia Yu down, no matter what.

In the first half of 1984, the entire group's revenue once again set a record, reaching 6.778 billion U.S. dollars.

Video games and portable music players were still the biggest pillars, but the development of the subsidiary Tiangong Motorola Electronics Co., Ltd. was also very impressive.

This subsidiary launched the Tiangong K101 mobile phone on 15 April, and then it was fully distributed in May.

As of June, two and a half months after its launch, a total of 28,243 units had been sold, mostly to families and companies purchasing in bulk.

The price per unit was HK$25,000.

Therefore, in terms of selling mobile phones, sales reached HK$706 million.

Then there is the network access fee of HK$10,000 per unit, which has increased revenue for Hong Kong Telephone Company by HK$282.43 million.

Based on the current population of Hong Kong, the per capita mobile phone ownership rate is 0.5%.

Of course, this cannot be calculated in this way, because many of the consumers who bought and purchased these phones came from Southeast Asia. At present, the signal base stations have not been built throughout Southeast Asia, and some countries have not obtained permission. However, after many wealthy people come to Hong Kong, their phones will temporarily be able to function.

For the rich, it's only a few tens of thousands of Hong Kong dollars, so they can definitely afford it.

Xia Yu was very satisfied with the development of Tiangong Electronics Group, so much so that he was considering whether to transfer Fok Kin-ning.

After some deliberation, Xia Yu decided to ask Fok Kin-ning what he thought, after all, this was a matter that would determine Fok Kin-ning's life.

So after the tour of the company, Xia Yu went to Fok Kin-ning's office to talk to him in private.

'Jianing, you have put Tiangong Electronics in good order, and your abilities are beyond doubt. I intend to give you more responsibilities.'

'But I also respect your opinion,'

Xia Yu said slowly, after taking a sip of tea, crossing his palms and looking at Huo Jianing with a serious expression.

Huo Jianing sat up straight subconsciously and said respectfully, 'Chairman, please give your orders, I will do my best.'

'Eh~'

'Don't promise me yet. Listen to me first. This matter will affect your entire life. If you agree, it will be a lifelong commitment.'

Xia Yu waved his hand and said.

Hearing Xia Yu say this, Huo Jianning's heart lifted. He became more serious: 'Chairman, what is this matter?'

Xia Yu said slowly: 'You are my secretary. You can be said to be the person who knows me best. You should know that my business is very large.'

Fok Kin-ning nodded in agreement. He could guess that the chairman had business interests outside Hong Kong, but he wasn't sure what they were, and he didn't really want to find out, because when he was Xia Yu's secretary, he was already kept busy by the territory of the Jiuding Group alone.

It was also as Xia Yu's secretary that he came to understand just how powerful the Jiuding Group was.

'My career in Hong Kong is only a part of my entire career, accounting for about a quarter, or even less.'

Upon hearing this, Fok Kin-ning's body trembled and his eyes widened.

The Jiuding Consortium only accounted for such a small proportion?

My goodness!

How much is the chairman hiding, and just how powerful is he?

At this moment, Fok Kin-ning's curiosity exploded, and he couldn't imagine what that concept was!

Xia Yu didn't care about Huo Jianning's expression changes, and continued, 'Previously, due to special circumstances, I didn't want anyone to know, but now, the time is gradually ripe.'

'Of course, there is also an even more important reason.'

'At present, I can still control the entire situation for the time being, but the disadvantages are also obvious. My career is too large, and my energy is limited. Sometimes, I cannot process information in time, and I have not achieved the optimal level of resource coordination and utilisation.'

'It can be said that to a large extent, this has restricted the development of my career.'

'So after much thought, I decided to establish a management body at the top of all my businesses and set up my own family office to help me run them all.'

'There are two requirements for members of the Xia family office: loyalty and competence. Once they are in, they must serve me for life.'

'You are a person of good character, very loyal to me, and your abilities are outstanding. Whether it's knowledge of the capital market, clerical work, or managing a large group, your abilities are excellent and comprehensive.'

'So I plan to let you be the head of my family office, that is, the butler of the Xia family, except that you will move from the foreground to the background.'

'Of course, this is a matter of mutual consent. You are only 32 years old, and you still have a long life ahead of you. I won't force you, so you can make your own decision.'

'And don't feel any pressure. Even if you don't want to come, I will still give you a platform to display your talents.'

After saying these words of earnest advice, Xia Yu took a sip of tea, leaned back on the sofa, and quietly watched Huo Jianning's face change constantly.

Xia Yu's words had a huge psychological impact on Huo Jianning.

At the same time, he was also filled with gratitude towards Xia Yu.

The head of the family office, the head of the Xia family, would undoubtedly become Xia Yu's most important confidant.

He could fully imagine that in the chairman Xia Yu's vast business empire, Xia Yu was the supreme emperor, and his status was completely second to none.

Just as Xia Yu had said, he had sufficient recognition of his loyalty and abilities before wanting him to take on such a position.

What warmed his heart even more was that Xia Yu did not force him, but instead gave him enough respect to let him choose for himself, in a heart-to-heart talk.

If he chose to agree, then he would gain a lot, such as a lofty position in Xia Yu's conglomerate and the ability to see the deepest scenery in the world.

But he would also lose a lot, such as the sense of accomplishment he currently felt from running the Tiangong Electronics Group, the thrill of being a dominant force in the business world, and most importantly, the fact that he and his descendants would be completely bound to Xia Yu...

There are gains and losses, and it all depends on how he makes his choice and how he wants to go through life.

He has already reached the most important fork in the road of his life!

'Chairman, thank you for your trust in me!'

'Please wait a moment, I want to think about it for now,'

Fok Kin-ning stood up and respectfully bowed to Xia Yu.

Xia Yu's eyes flashed with a hint of satisfaction, and he raised his hand to indicate that he should sit down: 'Well, you should think about it carefully. I'm in no hurry.'

'Thank you, Chairman!'

After thanking Xia Yu again, Fok Kin-ning sat down and lowered his head in contemplation.

After about ten minutes...

Fok Kin-ning suddenly looked up, his gaze had become extremely determined, and he said firmly to Xia Yu: 'Chairman, I have already made up my mind. I will entrust you with my life!'

'You have cultivated me and made me what I am today. You have been kind and generous to me, and I can never repay you for your kindness. I am willing to do my best to serve your family!'

After saying this, Fok Kin-ning stood up again, bowed to Xia Yu at a 90-degree angle, and remained in that position.

Xia Yu's face beamed with a smile of relief.

'Good, good, good!'

'I was right about you.'

'Kin-ning, get up,'

Xia Yu said three 'goods' in a row with a happy smile, and said he would help him up with both hands.

'Thank you, Chairman!'

'Jianing, you need to find a replacement as soon as possible to take over the position of president of Tiangong Electronics Group, and you need to take the lead in establishing the family office as soon as possible.'

'Chairman, please give me three days. I will conduct a final test on the various aspects of the quality of several senior executives within the company to see who is more suitable. If there is no suitable person, I will need to ask you to transfer someone over.' Huo Jianing said steadily.

'Okay, do as you wish,'

Xia Yu said with a smile, letting go and letting Huo Jianning do as he wished.

'It's getting late, I'll go back first. Call me if there's anything.'

'Okay, Chairman, I'll see you out.'