2003: Starting with Foreign Trade

Chapter 488 Unprecedented Promotional Efforts
Compared to previous years, the early winter in Ningbo this year feels noticeably colder.

The continuous drizzle and chilly winds made Tan Lihua, who was new to living here, feel very uncomfortable.

"Why is there so much rain in this lousy place? Was it always like this?"

Holding Tan Jinyue in his arms, he complained as he walked out of the market with his wife, holding up an umbrella. Liu Suman, who was next to him, also quickly held up an umbrella to shield Zhang Suzhi, who was carrying groceries.

Zhang Suzhi replied with a smile, "It rained a lot last year too, but it seems not as much as this year. Jincheng told me that winters in Ningbo are like this, you'll get used to it."

Her husband came to visit, and the family was reunited. She was happier than anyone else. To be honest, she wasn't used to living here either. She was over forty years old and had to endure living apart from her husband in a strange city.

If it weren't for her two children, she wouldn't have gone to such lengths. Although life in Yicheng was far less affluent than here, it was the lifestyle she preferred and was more accustomed to, with family, friends, and a husband.

Although Zhang Suzhi didn't say it, she actually relied on Tan Lihua quite a bit. When she was young, there were many children in her family, and as the eldest sister, she suffered a lot because the family needed her to take care of them.

Although life was still tough after marriage, she felt a level of protection and care that she had never experienced at her parents' home. What woman wouldn't want such treatment?

Tan Lihua is also the eldest son in his family. As the eldest son, he has a certain authority in the family. Before he got married, he had a rather irritable temper, spoke very loudly, and was someone who dared to argue with people.

However, he has never raised his voice in front of his wife. He went from being a man who couldn't cook very well to becoming a master chef. The couple, who had a very good relationship, now have to endure living apart.

Interestingly, because of their separation, both of them actually learned how to use computers. The reason was the old mindset that phone calls were too expensive, while QQ video calls were much cheaper. In addition, it also allowed their daughter to see her father from time to time, so that she wouldn't completely forget him.

Tan Jincheng is rarely home, but the couple often video chats. However, video chats are not as good as meeting in person every day.

Well, that's great. The eldest son has brought his father over and won't let him go back.

"There are still more than two months until the New Year. Why do you think Jincheng won't let me go back?" Tan Lihua was also curious about this.

He was definitely going to attend his daughter's birthday party, as it was already in the plan. However, after the birthday party, his son wouldn't let him go back home and said he wouldn't be coming home for the Chinese New Year this year, which was a bit unexpected for Lao Tan.

Tan Lihua didn't spend the Spring Festival in his hometown last year, and he really wanted to spend it there this year. He hadn't even moved into the newly built house in his hometown yet, but now it seems he can't decide where to spend the Spring Festival.

The son's attitude was very firm. He said that from now on, they would start preparing for the New Year here, and he would not only prevent them from going back, but also prevent his brother-in-law Zhang Qingliang from going back to his hometown for the New Year.

They didn't even explain why, which is really strange.

"I don't know. I overheard him chatting with Qingqing the other day. He said the weather this year is strange and told Qingqing not to go on business trips too far away recently. He himself has also stopped traveling around. That should be the reason?"

"This is ridiculous. You said it yourself, apart from more rain than in previous years, how is the weather any different? You're not only going to control us, but you're also not going anywhere yourself? Where did you hear that?"

The family was already in the car. Liu Suman was in charge of driving them home. The two spoke in Yicheng dialect, which Liu Suman couldn't understand at all, but little Tan Jinyue could.

“My brother said it while he was sleeping that it would snow heavily this year, and I heard it.”

The unintentional remark from their youngest daughter left Tan Lihua and his wife looking at each other in bewilderment.
-
"Mr. Kuang, it's been a long time."

In the top-floor office of the Flash Motors headquarters building, Tan Jincheng met Kuang Ping, whom he hadn't seen in a long time.

Speaking of which, Kuang Ping has been incredibly busy this year. From the beginning to the end of the year, Qiming Venture Partners has invested in many projects, including follow-on investments in Orange Technology, as well as internet projects such as Touchmedia, Zhongyuan Network, and Jiayuan.com.

I've heard that they're in talks with Vancl again, wanting to participate in Vancl's Series C funding round. The success of Orange Club has also brought Vancl, which was already making quite a splash, into the spotlight of the capital market.

In addition, they are also involved in Touch Media's Series B follow-on investment project. The fact that they were able to take the time to come to FlashCheer at this critical time shows that they really value Tan Jincheng.

These investment tycoons have been incredibly busy this year, searching for investment projects all over the country and even the world. They've been especially busy since the internet investment boom.

This year has been relatively good for internet entrepreneurs. Almost every founder with some ability has received some investment from venture capital firms, making it a bumper year for them.

"I was discussing financing for a project and happened to come to Ningbo to take a look around. I said, Mr. Tan, have you ever thought about moving Orange Technology to Hangzhou or Shanghai, or even just downtown Ningbo? Beicang is too remote, it's too much trouble for us to come all this way."

In terms of location, Beicang is indeed remote from Ningbo. It takes longer to get to the city center than to Zhoushan. Without a subway and without private cars, there are only a few bus routes to the city center, and they are always packed. Whenever guests come, Tan Jincheng reminds them to notify the authorities in advance so that someone can pick them up. Otherwise, the journey from the city center to Beicang alone is enough to cause them a lot of trouble.

“That is indeed a problem. We’ll consider it when the time comes. However, the company is still small. Let’s talk about it when it’s bigger,” Tan Jincheng replied with a smile.

Moving the entire company won't be that easy. First, how will Gu Qingqing's office be handled? They can't just live apart. At most, they'll have to set up a branch office in Hangzhou or Shanghai, and make it a bit bigger.

Another major challenge is persuading the Beicang District government to allow the entire company to relocate. Flash Group is considered a favored son in Beicang District, and Orange Technology is also a star company there.

Moreover, it is a rare internet company in Beicang and even the entire city of Ningbo. Not to mention the Beicang District government, even the city of Ningbo might not be able to persuade it, plus there is the connection with Ningbo University.

Leaving aside the employment and tax contributions Orange Technology has made to Beicang, the owners and employees of entertainment venues would probably be devastated if they heard that Orange Technology was moving away.

Kuang Ping clearly knew that this matter was not so easy, so he just said it casually.

For these investors, it would definitely be more advantageous for Orange Technology to locate its headquarters in first-tier internet-developed cities like Shanghai. They could give it a shot and maybe even succeed, right?

Ideally, they hoped that Orange Technology would be based in Shenzhen, firstly because it would be closer to the hometowns of these investors, and secondly because it would better complement Tencent. However, they obviously knew that this was impossible.

The couple, Tan Jincheng and his wife, along with their family, had strong objections to moving so far away.

Shenzhen is the best, followed by Shanghai. As for Hangzhou, even Tan Jincheng himself probably wouldn't be happy with that.

"When is Mr. Tan planning to raise Series C funding? Let me know in advance if you're looking to raise funds, I'm quite busy lately." Knowing Tan Jincheng's personality, Kuang Ping didn't bother with pleasantries and went straight to the point.

The reason for coming to Beicang is to secure Orange Products' Series C funding. Qiming Venture Partners, which holds 12% of Orange Technology's shares, is the weakest of the three investment institutions, but because they got involved the earliest, they hold the most shares.

Vancl and the others were planning to invest, and since Orange Products had already proven its worth, they naturally didn't want to be left behind and were preparing to continue investing.

Kuang Ping's idea was simple: after the Series C funding, Qiming Venture Partners' minimum plan was to maintain its existing shareholding and not dilute its own shares.

Tan Jincheng did not answer directly, but instead asked, "Has President Kuang seen our Double Twelve New Year's Shopping Festival plan?"

Kuang Ping nodded, explaining that he had rushed over because he had already seen it: "I've seen it, and President Shen and President Ma should have seen it too, right?"

This guy is a real marketing genius. He turned November 11th into a shopping festival, and now he's pulling this stunt on December 12th.

New Year's goods? How could he come up with this? This year, December 12th is only the third day of the eleventh lunar month, not even the twelfth lunar month yet. What's the point of buying New Year's goods? He's clearly just looking for another reason to burn money.

Double Eleven, Double Twelve, and then New Year's Day and Spring Festival—these traditional promotional days have always maintained the reputation of burning money on promotions, keeping the popularity at a high level and rapidly accumulating registered users.

The major promotion, which begins during the trial operation, will continue until the Chinese New Year period, lasting approximately three months.

A massive promotion spanning three whole months! This level of intensity is unprecedented, even for internet companies known for burning through cash. Even Alibaba, with its deep pockets, has never done anything like this.

As expected of the troublemaker who dared to throw around a 6000 million yuan promotion on electric scooters, he remains as arrogant as ever.

"Since you've seen it, Mr. Kuang must know that Orange Technology's funds are running out if they keep burning money like this, so the Series C funding round won't be long. Does Mr. Kuang mean to continue investing?"

“That’s right. Since you dare to play this big, there’s no reason for us investment institutions not to play along. Mr. Ma and Mr. Shen must also want to continue investing, right? If you ask me, it would be better if the three of us participated in the Series C round.”

That's how the world of capital works. If you can take it all by yourself, you'll definitely want to take it all by yourself. As for the consequences, that's another story. But clearly, Qiming Venture Partners can't take Orange Technology's Series C funding. The best outcome would be for three companies to invest simultaneously, keeping other potential predators out.

It's a pity that we didn't ask for more shares during the Series A round; otherwise, Qiming Venture Partners could be easily making a fortune now.

In terms of the returns from the first round of investment alone, Qiming Venture Partners has already made a fortune, with a return of nearly 20 times in just two years. This guy is really lucky, considering that this was Kuang Ping's first internet project after returning to China.

Investing in an internet project for someone who owns a factory sounds crazy, and Kuang Ping withstood pressure from the company's shareholders and management.

(End of this chapter)