2003: Starting with Foreign Trade

Chapter 732 Auto Finance Company
"Hey, why are you giving out red envelopes when it's not a holiday? 200 yuan? Wow, that's quite a lot."

"Just take it, stop talking so much nonsense, it was given to you by the big boss."

On the last Monday of June, all the companies under Tan Jincheng Holdings, including the Flash Group, Weilai Group, and Orange Group, received a small bonus.

"That's true, hehe, I like bosses like that, who give us things every now and then."

200 yuan isn't a lot, but it's not a small amount either. After work, you can go out for a nice meal, or buy a few pounds of meat, add a couple of dishes for the kids, and buy them something to make them happy.

"We already gave out gifts a few days ago for the Dragon Boat Festival. I heard that these red envelopes were given out by the boss personally. Apparently, it's because the boss's wife gave birth to a child. Everyone received one."

"Wow? Everyone has one? How many people are in the company? How much money would that cost? Our factory must have several thousand people, right?"

"I don't know, why ask so many questions? It's not like you're paying anything, just take it."

"Oh, let's post this on Dingding Community and see if employees from other companies have received it, or if only FlashChi has gotten it."

The office staff were busy showing off their penises, while the workshop staff were still lining up to receive red envelopes. Everyone was chattering and discussing why they were receiving these red envelopes. The employees who loved surfing the internet were showing off the gossip they had read online.

"Hehe, it must be the boss's baby. A few days ago, I saw a post from an employee of Beicang Hospital saying that the boss's wife was hospitalized. I just don't know if it's a boy or a girl."

"If only the boss could have babies every day, then he wouldn't have to work, haha."

"Damn, do you think the boss is a pig? Even pigs don't give birth like that."

"Hahaha, that's hilarious! You're really daring to dream big, aren't you?"

Beicang District, People's Hospital.

"Look at you, making such a big fuss, and you always tell us to keep a low profile."

Gu Qingqing, who had just given birth, looked a little weak, but her overall spirits were still quite good.

Gu Yanning just came to see her, and her cousin told her that every employee of all the companies controlled by the entire Flash Speed ​​Group, Wei Lai Group, and Orange Group received a 200 yuan red envelope. This is truly something else.

"Haha, I'm so happy! Speaking of which, I never expected that the company I directly control would already have 3.3 employees. Wow."

It was Tan Jincheng who instructed Zeng Jixiang to distribute red envelopes to the employees.

To be honest, he wasn't really sure how many people the company had right now. The business was constantly expanding, and recruitment was ongoing. Every year, a batch of employees would come in from various large corporations through social recruitment and campus recruitment.

The company directly controls 3.3 people, which is something we never dared to imagine before. However, judging from the current situation, it shouldn't be long before we have 4 or 5 people.

"You lost several million just because you were so happy. That kid is really lucky."

In the early morning of June 28, 2010, Gu Qingqing gave birth to Tan Jinchuan. Both the Tan and Gu families were overjoyed, and the entire staff of Beicang District People's Hospital breathed a sigh of relief.

Since Gu Qingqing was admitted to the hospital, the special care ward has been flooded with visits from powerful and influential figures, both local and from out of town, putting them under immense pressure.

"Isn't he lucky? This little brat doesn't have to do anything. He can just lie there and be well-fed and clothed for the rest of his life."

Oh, what a pity. It would have been better if it were a daughter. It seems that the Tan family has a relatively low chance of having daughters. Tan Jinyue was treated very well in her previous life because her family had very few daughters since her father's generation.

Tan Jincheng only has one aunt, a rural girl born in the 1960s or 1970s. Whether she went to school or not is another matter, but she must have done a lot of farm work.

His aunt had never lifted a finger since childhood; she couldn't cook before she got married and was spoiled rotten by her family.

“You should go to work. You’re just staying here every day, which is disrupting the hospital’s order.”

Since her admission, her husband has basically stayed at the hospital. In addition to a constant stream of visitors, he also handles his work at the hospital, making this floor a bustling place with people coming and going.

The hospital parking lot was constantly filled with luxury cars, and people were even coming to take photos. All of this got back to her.

"No rush, let's talk about it after you're discharged from the hospital. It won't make a difference if you wait a couple more days."

Gu Qingqing was in good health and had a natural birth. If it were an ordinary person, they would probably be discharged from the hospital after half a day. Gu Qingqing didn't plan to stay for too long either, because nobody likes to stay in the hospital.

"It's up to you then, but you should also be mindful of the impact. The internet is so developed now, if we keep going like this, people will start talking about us."

Her hospitalization this time was quite a big affair. Tan Jincheng alone arranged a lot of security personnel. Tall, cold-eyed staff members could be seen everywhere on this floor, which did have a somewhat negative impact.

Tan Jincheng chuckled but did not respond.

Having lived two lives, Tan Jincheng always took childbirth very seriously and did his best to take good care of pregnant women. In his previous life, he didn't have as much money, but he still managed to get a special care ward for the baby through connections.

Needless to say, they're both still young, and this is their first child, so what's wrong with exaggerating a little?
Sometimes, letting go of one's natural instincts can have negative consequences, but Tan Jincheng doesn't think there's anything wrong with that; he's not some kind of moral exemplar.

"You were right before. When our child turns 20, you'll only be 45. By then, you'll be able to help us. How should we raise him?"

"Aren't you thinking too far ahead? This little guy hasn't even been born for 24 hours yet."

Mothers are different; they think so far ahead. The baby has only just been born, and they're already thinking about the baby's education and succession. They're really thinking ahead.

However, Mr. Tan doesn't actually have the educational experience of a top-tier rich second-generation, but he has seen quite a few examples.

More than a decade later, a joke circulated on the internet: "It's not that I'm afraid of rich kids indulging in eating, drinking, and having fun, it's that I'm afraid of rich kids being overly ambitious."

If you don't start a business, don't mess around, and simply take over the family business honestly or don't take over at all and just coast along, then it's no problem for generations to be wealthy. But if you mess around, things are likely to go wrong.

They should learn from Lao Wang. He gave Xiao Wang a few hundred million and let him do whatever he wanted. After realizing he wasn't cut out for it, Xiao Wang gave up. He usually just criticizes female celebrities online. He doesn't mess with people he can't afford to offend, so nothing bad will happen to him.

Following Lao Wang's approach to disciplining children is not a bad idea.

Generally speaking, as long as you don't have too high expectations for the next generation, there's nothing to worry about. With the gradual concentration of social resources, most of the next generation's achievements are actually not as good as the previous generation's.

The older generation farms in the fields, while the younger generation works overtime in cubicles; essentially, they are doing the same kind of work.

"Now we have to think about it. Children grow up really fast. Look at Jin Yue, she's almost six years old. When I first met her, she was just a tiny little thing. It's only been a blink of an eye."

"Just stay safe and sound, that's all that matters. Don't have too high expectations. Besides, we're still young. If we ruin this account, we can just start a new one."

If all else fails, just find a professional manager. Given the size of his assets and the ability to guarantee employment for so many people, even if he's just messing around, he can still keep things going for several years.

But it's too early to talk about that. He's only 25. If he can't keep up, someone might mess with him, and this little brat won't have the chance to inherit the mantle. If he can keep up, this little brat can live a peaceful life.

The young couple were discussing how to raise their next generation when a knock came from the hospital room.

"Hey, you're here! What did you bring?"

When Tan Jincheng opened the door, he saw Zhang Xupeng and his wife. Nie Ruoxi was holding a bouquet of flowers and smiling at Gu Qingqing.

Zhang Xupeng said with a grin, "You got there first, so my child will have to call your son 'big brother' from now on."

"Haha, then you two should work hard. If the two of you are close in age, you can fight together and then study together."

Boss Tan is in a great mood today; the project that he's been working on for a whole year has finally come to fruition.

"That makes sense. It seems we really need to work harder. But what if I have a daughter?"

Zhang Xupeng nodded. He and Tan Jincheng had studied together since childhood, and their friendship, built over 20 years, seemed likely to continue into the next generation.

"My daughter is good too. She's my childhood sweetheart. Anyway, my little rascal won't lose out."

Nie Ruoxi chuckled. These days, there's no longer any custom of arranging marriages for children from a young age, but having a playmate to play and study with from childhood is still quite nice.

"You shameless brat! Shouldn't you be going to the company? Staying in the hospital every day isn't a good thing."

Zhang Xupeng was somewhat speechless. In addition to visiting him, he had come today at the behest of company and district leaders to help Boss Tan return to normal work as soon as possible.

They always come to the hospital to report on their work; what kind of nonsense is this?

Others dared not speak up, and the district was not in a position to directly intervene, so it was only appropriate for him to step forward.

"Alright, I understand. I'll be discharged in two days, so it won't affect me then. If they feel it's inappropriate in the next few days, just let them handle it themselves, or you can take care of it for them, or you can ask Zeng Jixiang."

People in this world are often not in control of their own lives; he can't truly abandon his work now, and neither can Zhang Xupeng.

Since the end of May, Tan Jincheng has taken advantage of the merger of the two companies to not only keep a close eye on the progress of new energy vehicle research and development, but also to carry out a series of reorganizations within the company.

Many senior and middle-level managers from the two main entities, including Weilai and Shanchi, have been transferred from their current positions.

The restructuring stopped after the boss's wife was hospitalized, and the company's management didn't know whether the boss wanted to continue or end it. Zhang Xupeng nodded: "That's fine then, a couple more days won't make a difference. Also, when are you going to the US?"

Tan Jincheng had already discussed with Zhang Xupeng in private that he would be visiting Tesla in the United States in July to explore cooperation opportunities, as the boss's wife had just given birth and was in postpartum confinement.

To prevent any unforeseen circumstances, the boss needs to make some arrangements before going abroad.

Zhang Xupeng was Tan Jincheng's most trusted person. In fact, as the company grew bigger and bigger, if they needed to travel for a long time, their schedules were always staggered. There were very few periods when neither of them was away from Beicang for an extended period of time.

"On the 17th, you should also adjust your schedule."

Through Shen Nanpeng's connections, they got in touch with Elon Musk in the US. Musk was very interested in the cooperation offered by Weilai Auto, and he was also very interested in Tan Jincheng. Musk's American Dream is that he likes people like Tan Jincheng who achieve fame at a young age.

What Musk found most interesting was the industry Tan Jincheng had chosen. While the younger generation of entrepreneurs often chooses the internet, Musk knew that although Tan Jincheng had internet businesses, his main business was actually manufacturing.

It's very rare to see a young person who chooses to work in the physical world instead of the internet. Musk really wants to ask him personally why he made that choice.

Half of 2010 has passed, and the Yuechi A1 has sold really well during these six months. Since winning the SUV sales championship for the first time in March, it has been taking turns with the CRV to take the top spot, and monthly sales have never fallen below 10,000 units.

Besides the added advantage of its legendary status, the biggest reason is the explosive growth of the SUV market share this year. Compared to last year, the market share of SUVs, which used to be a niche market, has increased to about 12% in the first half of this year.

Compared to the beginning of the year, it increased by about 3.5%, and in the passenger car market, its market share has approached that of the mid-size car market, becoming one of the mainstream models.

The SUV market has truly opened up.

In June, the Yuechi A1's monthly sales surged to 13504 units, once again surpassing the Honda CR-V to become the top seller. From January to June, the Yuechi A1 sold a total of 66098 units, with total sales exceeding 8.5 units.

Without a doubt, the Yuechi A1 will join the ranks of single models with total sales exceeding 100,000 units in August, and it's only a matter of time before annual sales reach 100,000 units.

The peak sales season of September and October is still far from over, and the end of the year is yet to come. The second half of each year is the peak season for car sales.

"We sold 1.3 vehicles in June, which was somewhat unexpected. It seems that the car loan program that started in Guangzhou is working."

After Gu Qingqing was discharged from the hospital and returned home, Tan Jincheng also returned to work after completing his three-day treatment. When he received the sales figures for Yuechi A1 in June, Tan Jincheng was quite surprised. Compared to May, sales had increased by 24.39%, which was incredibly impressive.

"Well then, we don't lack production capacity this year, so let's just do the same car loan for Yangzi Automobile, boost sales, and see if we can break into the top five."

Data analysis shows a significant increase in new users applying for car loans for the Yuechi A1. This is market demand, and since there is demand, there's no need to hide anything; just do it.

“Indeed, I didn’t expect the data to change so much. Boss, how about we start our own auto finance company?”

Zhang Yong had worked as a car sales manager and was well aware of the profits involved.

"That requires cooperation with banks; engaging in financial projects requires approval from the China Banking Regulatory Commission."

Tan Jincheng stroked his chin. It's better for car companies to have their own finance company. It seems that Dizi established an auto finance company after the withdrawal from the network, thus plugging the loophole, right?
Auto finance companies are not just about lending money for cars; their business scope is very broad, and they play a significant role in the business.

However, this cannot be done without cooperation with banks and approval from the China Banking Regulatory Commission.

Zhang Yong laughed and said, "That's right, this is something you'll have to handle, boss. We're doing quite well with Yongcheng Bank, so you should be able to talk to them without any problem."

In 2010, the financial market was quite cautious towards private enterprises. Without a certain scale or strong connections, even car companies wouldn't allow you to establish a business.

Did you think Dizi didn't want to start a business a few years ago? Doesn't Boatman know that no business is as good as lending money?
"Okay, I'll go talk to the leaders of Yongcheng Bank. We don't know if it will be successful."

"There shouldn't be any major problems. Our Yuechi A1 can still sell around 70,000 units in the second half of the year, and the pickup trucks can sell at least 10,000 units as well. That's close to 100,000 units in total."

"Okay, I'll make the contact right away and try to finalize the framework before I go abroad. You can handle the rest."

Tan Jincheng thought about it and agreed. With sufficient benefits and the current policies being relaxed, there was no reason why a local commercial bank wouldn't cooperate.

Ningbo Bank also owns shares in the company. As a local listed bank, it also needs to consider its performance.

"Okay, then I'll get ready."

Zhang Yong was decisive; it was definitely right to prepare in advance. Even if he couldn't succeed this time, he had to succeed next time. In short, he had to get it done this year so he could make a fortune next year.

The boss doesn't care about specific data like whether the company makes money or how much profit it makes. The boss is only responsible for strategic planning, but that has a lot to do with him as the CEO.

It's not the boss's fault that we can't make money; it's the CEO's fault.

Compared to Tan Jincheng, Zhang Yong was more eager to establish the financial company.

Tan Jincheng was based in Beicang, but he knew quite a few people in the high-level leadership circle of Ningbo. Tan Jincheng, the president of Ningbo Bank, had private contact information, and he didn't hide it from Zhang Yong at this moment, directly taking out his phone and making a call.

"President Luo, Weilai Auto has merged with Jin New Energy, and our cars have been selling well this year. With the policies being relaxed, how about we partner up to set up an auto finance company?"

The minimum requirement for establishing an auto finance company is a registered capital of at least 5 million yuan, which must be fully paid up. In addition, at least one of the investors must have more than five years of rich experience in auto finance business management and risk control.

Alternatively, you could bring in a qualified professional management team to the auto finance company, which would essentially be a small, compliant loan company.

Tan Jincheng didn't have five years of experience in the automotive industry, but Zhang Yong did, and that's why the automotive finance company used him as its legal representative.

"Wow, Weilai Auto has become so big! Oh right, I haven't congratulated President Tan on the huge sales of the A1 last month."

Last year, Weilai Auto wasn't particularly eye-catching, only a treasure in Beicang District. But after winning the SUV sales championship in March this year, and with the overall sales of Yuechi A1 predictable, it has become the darling of the entire Ningbo city.

Ningbo has a well-developed industrial sector, with strong industries in chemicals, shipbuilding, clothing, and even steel. Other industries, such as the auto parts industry chain, are also very developed. However, the complete vehicle industry is the only sector that is lacking.

Two years ago, Beicang introduced Zhongtai, but it was all talk and no action. They originally planned to talk to Geely, but Geely has been busy with acquisitions and expansions in the past two years, so they haven't reached an agreement yet.

As long as it doesn't violate any regulations, Yongcheng Bank will definitely cooperate with the city to help Weilai Automobile.

"Hehe, this is to respond to the call, isn't it? Here's what I'm thinking: we'll contribute 4 million in registered capital, and your bank will contribute 1 million for a 20% stake. How about we partner up to start an auto finance company?"

There's no such thing as someone keeping everything to themselves. Besides, the China Banking Regulatory Commission lets the banks handle it, which is much easier than trying to pull strings yourself.

Luo Bo thought for a moment: "I have no problem with it in principle, but we need to have a meeting about this. How about we give President Tan the news later?"

This is good news. It seems that Weilai Auto's sales target of 15 vehicles this year is secure, and it should be able to sell around 20 vehicles next year.

According to market forecasts, by 2013, the proportion of car purchases financed by loans will increase from the current 9.3% to 17.4%. In addition, he also noticed the car loan rules recently piloted by Wei Lai in Guangzhou.

I have to say, this guy did a really good job. With this approach, Weilai Auto's car loans will definitely be much higher than those of other car companies. This is a deal worth making.

"Alright, then I'll have to trouble you, President Luo. I'll be going to the United States on the 17th of this month. If you make a decision then, you can contact our General Manager Zhang Yong."

"No problem, no problem. Mr. Tan, you go ahead with your work. I'll just contact Mr. Zhang directly when the time comes."

He knew Zhang Yong; he was in charge of the specific business of Weilai Automobile. After the board of directors approved it, the specific person in charge would then liaise with Zhang Yong.

"Alright, this is pretty much just a formality. You can handle the coordination later. Let Ningbo Bank take care of the China Banking Regulatory Commission. Just keep an eye on things and make sure everything that's required is there, but don't overdo it."

"Okay, I'll go and make the arrangements right away, and first get the management team in place."

"Well, if there's anything you don't understand, you can ask Huang Ming and Cheng Linfeng. They're professionals in finance, and they might be able to introduce you to some useful people."

Having finished discussing the matter, Tan Jincheng thought for a moment and then remembered something else: "By the way, what's the deal with that manufacturing manager you mentioned visiting at the Great Wall Jingmen production base last time? Who is he, and why did you have to personally go and invite him?"

Zhang Yong slapped his forehead. He had been so busy lately that he had completely forgotten to report this matter: "Hehe, that guy is something else, but his wife is even more something else."

"What do you mean?"

Tan Jincheng also became curious.

"Mr. Zhang Li is the deputy general manager and manufacturing manager of Great Wall Tianjin. He has been working at Great Wall for a long time and has excellent business skills. I have been in contact with him for a long time, but he will not be able to start working until the end of the year, so I forgot to report to you a few days ago."

Tan Jincheng nodded, signaling Zhang Yong to continue.

"Actually, poaching Zhang Li is the first step. My main goal is to poach his wife. You should know who his wife is, Ms. Tan, who is Wang Fengying."

Damn, Tan Jincheng was stunned. Zhang Yong's ambition was quite large. Of course he knew this guy. He joined Great Wall in 91 and served as the vice chairman, executive director and general manager of Great Wall from 03. He also served as the general manager of Baoding Sales Company.

Her nickname is "Iron Lady," and she is exceptionally capable. The success of the Haval H3 series is largely due to her efforts.

Tan Jincheng was stunned for a long time, then gave Zhang Yong a thumbs up: "You're awesome. If you can poach President Wang, I'll personally reward you with 500 million yuan."

Goodness, the most intense competitor to the Yuechi A1 among domestic brands right now is the Haval H series. Zhang Yong, that big-eyed guy with thick eyebrows, is preparing to undermine its competitiveness.

(End of this chapter)