Sleepless night!
Young is good.

Perhaps because he was not used to being with someone else, he woke up several times during the night and accidentally went astray in a daze, causing the latter to also not have a good night's rest.

Early in the morning, his biological clock forced him to wake up. After washing up, he patted his butt, said a few words, and left.

Only Lin Qingyi, who was woken up by the slap, looked confused. She looked at the time and fell back to sleep...

"...Please give a warm round of applause to welcome the new board of directors of Chimo.

Chairman and Executive President Mr. Li Zehua.

Mr. Gu Shijie, Executive Director and Group Head of Human Resources.

Mr. Yang Zhichao, Executive Director and President of the Group Marketing Division.

Mr. Wu Yibin, Director and President of Public Relations Department, President of Temasek China Region.

Mr. Qin Lang, Director and President of Marketing Operations Department.

Mr. Fang Guohui, former deputy general manager of Zhongxin International Investment Department and current director and president of finance department of Chimei.com.

Ms. Yu Li, Director and Secretary of the Board.

Independent director, Mr. Wu Liangyu, professor of the School of Economics and Management of Shanghai Jiao Tong University.

Independent director, Mr. Zhou Zhengxiang, professor of the School of Economics and Management of Fudan University. ”

As Yu Li finished reading out the above personnel appointments and dismissals, warm applause broke out in the meeting hall.

Not to mention the newly joined Wu Yibin, Fang Guohui of Zhongxin is also a senior leader in the industry. He graduated from Yale in his 40s and is particularly good at capital operations.

He also serves as the financial director of Qingyun Investment and Qingyun Real Estate.

As for his backing, he is recognized by Xu Xin of Tomorrow Capital, Zhongxin, MoTou, and Bank of China Investment, and he also represents the interests of Gaoling Capital.

It can be foreseen that for a long time in the future, Fang Guohui will lead the financing plans of Chichime and Qingyun Investment in real estate.

It is also responsible for contacting banks, funds and other financial institutions for orderly capital expansion.

The same scene also happened in the building next door, where the new Hummingbird headquarters officially moved there and was also elected by the general shareholders' meeting.

Li Zehua, Zeng Haiyang, Xie Bin, Hu Zhiyuan, Nie Tengyun and other five people are members of the board of directors of Fengniao Smart Logistics Group.

Hu Zhiyuan represents JD.com, Nie Tengyun represents other express delivery companies, and the voting rights of shares of Temasek, Gaoling Capital, Tomorrow Capital, Magic Investment Group, etc. are entrusted to Li Zehua himself.

After they make their Series B investment in Hummingbird, they will reallocate board seats based on their shareholdings.

This is mainly due to the market particularity of Hummingbird. It is not afraid of market competition and can develop on its own without too much external intervention.

Temasek, which could provide the greatest support, temporarily compromised and did not intervene in the board of directors, only appointing a professional financial team.

If there is an event that involves the major interests of all shareholders, Wu Yibin, as the venture capital representative, can intervene in a timely manner.

Ultimately, Li Zehua won the game with venture capital. If the board of directors had set up 7 seats as Chi Mo did, he would not have the right people to recommend.

For example, Xie Bin plays the role of a mouthpiece. He actually replaced Temasek's seat. After all, the latter will put forward a suitable person.

Then Li Zehua will have no one to send for the time being, and he will have to either accept 2 to 3 or 3 to 3. Neither result is acceptable.

JD.com has e-commerce and a professional team to support it, so Hu Zhiyuan's position is unshakable.

It is natural for Nie Tengyun to replace Yu Weilong to join Fengniao. Yunda has already accepted investments from Qingyun Investment, Temasek and Magic Investment.

For this seat, Yunda will send a representative to reside in Hummingbird and exercise the duties of a director on behalf of Nie Teng.

Among the mainstream players in the market, only SF Express, ZTO Express, Shentong Express and EMI do not hold shares with Hummingbird.

ZTO Express is on the decline, it is almost impossible to cooperate with EMI, the contact with Shentong is progressing steadily, and Zhongtong Yunda has signed the formal documents.

Huitong has been dismembered. The first step of the takeover plan is to connect with major franchisees, confirming that they will be acquired one by one, and basically leaving Huitong no chance to go back on its word.

However, Yuantong, the earliest cooperative partner, has only signed a letter of intent so far and is still waiting and watching.

Only SF Express, the number one player in the logistics and express delivery industry that relies on direct operations and occupies the mid-to-high-end market, has not yet made a choice.

We contacted Wang Wei through different channels, but he was not very interested and preferred to maintain a balance between Taotao's Cainiao Network and Hummingbird.

To put it bluntly, Wang Wei doesn't think highly of Taotao's style of play, and is quite hostile towards Hummingbird.

This bastard is actually supporting Yunda Yuantong to go the direct operation route. Isn't this trying to smear SF Express?
Not turning the table over and starting a fight is just giving some face to the Tonglu Group. As for Hummingbird and the Qingyun Group behind it, they cannot even rank in front of SF Express.

Not to mention stock swaps, when SF Express's revenue was 13 billion, American Capital attempted to acquire it in full for 40-50 billion.

In the first half of 09 alone, SF Express's revenue exceeded 35 billion yuan, and its annual revenue is expected to exceed 80 billion yuan.

Based on the lowest valuation alone, SF Express is worth more than 150-200 billion yuan at this time.

What about hummingbirds?
A little more than one tenth.

After the first round of introducing strategic investors, Li Zehua and Qingyun Group's shares in Hummingbird dropped to about 60%.

Even if the shares are increased proportionally and SF Express is invited to join, it will not make much sense. After all, we cannot expect strategic cooperation from a partner with whom we do not have much business dealings.

However, Li Zehua was not in a hurry. Although SF Express was actively preparing to establish SF Airlines and create the first private express airline company in the country.

But soon Jack Ma will meet the king of SF Express, and this is destined to be a fierce confrontation between the two giants, and no one can make concessions on core interests.

Taotao hopes that SF Express will align itself with the three major express delivery companies, provide cheap services, and join the Cainiao network, thereby reducing the cost of e-commerce online shopping.

SF Express hopes to occupy a special position on Taotao, and even use it as a breakthrough to get a share of the e-commerce online shopping industry.

The plans proposed by the two strong men were all dreams, so it was naturally impossible for them to reach an agreement.

When Taotao and SF Express fall out, Pinxixi group buying will take advantage of the situation and break out, and then when we approach SF Express to discuss cooperation, we will have enough attractive chips.

It’s okay not to cooperate. SF Express’s five years of confusion will make Wang Wei understand that not everyone can build an e-commerce online shopping platform.

It's just like what happened to BYD. It ate it two months ago, but it looked down on it. On the contrary, it can still invest in it.

By the same token, SF Express doesn’t even look down upon Pinduoduo, which has a valuation of tens of billions or even hundreds of billions!
In the future, you can still get on board when the former's market value reaches hundreds of billions or trillions.

As long as SF Express has not embarked on the path of international expansion, has not entered the vehicle logistics industry, and has not completed the private air cargo plan.

Sooner or later, the market will force it to return to the embrace of e-commerce.

Unfortunately, JD.com and Pinxixi are both in the Qingyun camp, so there is no way SF Express can bypass the olive branch extended by Qingyun Group.

Back to the topic, after this board adjustment, several of the most important issues were reviewed and passed.

For example, the first batch of option awards of our group will be finally approved and the distribution list will be determined, and it is stipulated that the first batch of 2% equity of Hummingbird will be taken.

The targets are those who were promoted to team leader or above before 2009:9 on September 30, 12.

Since this is the first pilot, referring to the company's establishment time, there will be quite a lot of new people entering the market in the next two months, so the equity distribution/purchase will not be done all at once.

It is also stipulated that the corresponding virtual equity amount must be paid in full during normal working hours before December 12 of this year, otherwise it will be deemed as a waiver of the rights and interests.

At the same time, all colleagues who enjoy the first batch of option rewards and obtain the qualification to purchase shares must sign a non-compete agreement if they leave within the prescribed period.

Within one year after leaving the company, those who join the food delivery and logistics industry will have all their rewards and additional subsidies during the non-competition period recovered, and will also have to compensate the company for its losses.

Of course, a piece of paper alone cannot win over everyone, but it is currently the cheapest and most effective means to ensure that most people can say no when faced with temptation.

The meeting also stipulated that the next option issuance time must not be later than six months after the B round of investment, and the grantees will no longer include the most grassroots managers.

At this stage, the company is planning to introduce a talent assessment system for project and product managers.

By then, only those who have reached the level of branch manager, second-level department manager or above, or corresponding technical positions or logistics positions will be able to enjoy option rewards.

The second round of distribution is an expected option reward, and there is a prerequisite that one must have served the company for more than two years before being able to subscribe to the corresponding shares.

It has to be said that the first batch of employees who joined, especially those in logistics positions, were extremely lucky.

Because many of them were classified as team leaders in this rating.

Frontline delivery and promotion staff don't have to worry, because in the next two months, the company's business will expand nationwide in conjunction with Pinxixi's group buying business.

There will be a lot of vacancies in grassroots management positions by then.

To put it bluntly, at this stage, anyone who is quick-witted and successfully meets the requirements in the weekly assessment has a great chance of being promoted.

Solve the option allocation problem.

Naturally, it comes to the part of salary increase that everyone likes to see. Take Li Zehua as an example. Before introducing venture capital funds, he paid out all his own money.

Naturally, it is impossible to offer a salary that is too high. The last time his salary was raised, it increased from 10,000 to 25,000. This time, it will be increased in one go, including the corresponding option rewards.

In the next six months of this year, he can take a minimum salary of nearly three million from the company, which is the option price calculated based on the first round of valuation.

The cash portion every month is as high as 80,000.

That's all, and I only ate one. The value of Hummingbird is slightly lower, and including the value of options, it is still about 2 million.

As for the Pinxixi group-buying business project preparatory team, there are hundreds of millions of funds on the books, but the specific business is still being carried out under the names of Chime and Hummingbird Crowdsourcing.

Naturally, there is not much hard work compensation. If he raises his salary, the management below will naturally follow suit, but the front-line employees, who are the largest number of people involved, have not seen a significant increase.

Because the salaries received by most of them are at an upper-middle level even in Shanghai, it is difficult to continue to adjust before the delivery commission increases significantly.

The salary of 2009 or 15 in was much better than that of the same type of job years later.

For front-line employees, the biggest change is that the company with which they sign their labor contracts has changed.

About four thousand people benefited from this, switching from Hummingbird crowdsourcing to Chimome or Hummingbird Express. Their salary increase was not large, but they gained additional labor protection rights such as five social insurances and one housing fund.

Li Zehua also did not forget to paint a rosy picture, promising that anyone who works for any company under Qingyun for three years in the future will be able to enjoy the company's housing purchase subsidies and low-interest loans.

For those who have been employed for five years and have reached the corresponding level, the company can provide cheaper internal housing purchase indicators, as well as settlement indicators in major cities.

To realize this plan, Qingyun Real Estate will participate in commercial real estate investment projects according to the planned schedule.

It's not about making money, just shops and housing are enough, the former is used to support the expansion plan of the restaurant chain.

The latter will be brought under the company's management and rented/sold to internal employees.

As for those employees who have not transferred to the three major groups, they will continue to remain under Hummingbird Crowdsourcing and continue to provide services in the form of labor dispatch.

As for labor dispatch, there are definitely no five social insurances and one housing fund.

However, this situation will not last long. The outstanding ones will continue to be absorbed into the group to work, and their welfare benefits will be the same.

Those who try to take advantage of troubled waters, lack the ability and have a problematic attitude, are not enterprising and are often complained about, please go back to where you came from, because there is no such thing as an idle person in a high position.

As for the disputes?

That doesn't exist. Before venture capital was involved, there was an entire law firm serving them. Now that they have money, the legal team has expanded three times.

Qingyun has reached cooperation with two large law firms and three medium-sized law firms in Shanghai.

There is even a branch of a large international law firm. These people are eager to have disputes and lawsuits, which means more profits will be generated.

You get what you pay for, the professionals are top notch.

It was just a labor contract and a dispatched labor contract, but they nitpicked on all the words to the point that Li Zehua couldn't even bear to read it.

A most basic employment agreement actually has dozens of pages.

Sometimes he even wondered if these guys were cooperating with the printer sellers. Otherwise, how could he explain the large number of printers the company had purchased recently?

In short, the importance of Hummingbird crowdsourcing has been further enhanced, and the subsequent Pinxixi recruitment plan will involve tens of thousands of people.

The vast majority of them will be included in the Hummingbird crowdsourcing system, starting with labor dispatch and having to prove that they are indeed suitable for the job.

Only those who stand out in the competition in performance, ability and attitude can enjoy corresponding treatment.

Li Zehua now has a bit of a capitalist face. Starting a business is never a joke, and he now has tens of thousands of employees under him.

He must carefully consider every decision. Of course, he must be foresighted and seize the opportunities of the times. Every business plan is bound to succeed.

But no matter what, the Qingyun system, which has just started, cannot bear too heavy a burden. He can only ensure relative fairness as much as possible.

He pays corresponding remuneration and provides equal labor protection to workers who provide effective labor.

Apart from this, there is not much he can do. Even with Jiandan Ai Crowdfunding, the number of people he can help at this stage is very limited.

In addition to solving the above-mentioned major problems, this board meeting will focus more on fine-tuning the company's established policies.

For example, the expected revenue and gross profit in the third quarter will increase significantly on the original basis, because in Shanghai alone, Chimei contributed nearly 30 million in sales within half a month.

Not to be outdone, Hummingbird Express grew at an astonishingly high speed, especially after reaching a cooperation with Shentong, the number of express parcels per day reached an astonishing level.

In addition, with the start of operations of various branches, the daily cash flow has become a headache for more than 40 professional financial cashiers.

Fortunately, we now have online recharge and consumption channels, as well as offline POS machines and scanners, which eliminate most cash transactions.

Otherwise, the Finance Department would probably be furious.

After also dealing with and adjusting some expected developments and matters related to cooperation with related companies.

Independent directors Wu Liangyu and Zhou Zhengxiang who attended the meeting jointly provided a research report on the development of takeout and express delivery business in Shanghai.

They don't just eat and do nothing. The data part of this can be ignored, but the risks at the economic policy level and the analysis of support expectations are irrelevant.

It provided quite important argumentative support, and even Fang Guohui from Zhongxin nodded in approval.

"Professor Wu, I saw that this report has signatures from many leaders of relevant departments.

At the same time, given your status as an economic advisor to the Magic City government, can I simply approve this report?

Will it be passed at the next stage of the government work meeting and issued and implemented as a local policy? "

Fang Guohui highlighted some of the contents, such as the training on battery vehicle registration and unified standards:
“This paragraph should be a proposal from the Vehicle and Horse Department, but fortunately, there is policy rebate support for unified personnel training for large companies and the registration of trams.

All in all, the company only needs to bear about 30% of the cost.”

Wu Liangyu nodded and said, "Yes, at the meeting last week, Director Zhang of the Vehicle and Horse Bureau's proposal was approved and will be implemented on a pilot basis in September.

The first pilot area is Minhang. After full communication with the chairman, I voted in favor at the meeting.

It also conveyed some opinions on business operations, with an emphasis on employment, workers' wages and other aspects.

After comprehensive consideration, the government agreed to provide subsidies in the form of local financial subsidies. "

This is the benefit of being an independent director. These two great professors from the School of Business and Management have deep connections in their respective fields.

Especially Wu Liangyu, who is an economic adviser to the Shanghai government and can participate in some key economic decision-making meetings.

This 70% local financial rebate policy was obtained due to his promotion and some special reasons.

The operating cost savings from this item alone are enough to offset all the expenses you have incurred while serving in this position.

Li Zehua was not stingy either. He donated 100,000 yuan to each of the two professors' socio-economic survey projects in the name of the company.

The board of directors smiled and immediately raised their hands to pass it unanimously...

After the meeting, two new directors, Wu Yibin and Fang Guohui, came to the office for tea.

Fang Guohui had just arrived and was very humble.

Especially since the chairman in front of us has achieved such great success at the age of less than 20, we dare not take it lightly.

"Chairman, this is the corporate financing report I made when I was at Zhongxin. If you find it ok, I will apply to Zhongxin for a corporate financing channel in the name of Qingyun Capital."

It wasn't so quick to come out originally. Although the template was ready, Qingyun Group was established not long ago, and the asset audit and financial report still needed third-party verification.

But after joining the company, I realized that everything was not as I had imagined. For a startup company, there was actually an international registered accounting firm helping with accounting and auditing throughout the entire process.

And it was completely unqualified third-party evidence, which was simply a pillow thrown to you when you were sleeping.

Fang Guohui, who was worried about having no place to put his skills to good use, seized the opportunity and immediately performed his famous skills.

Not enough time to register?

There is absolutely no problem. The original company has so many layers of skin in its hands, so just peel off any one of them and put it on Qingyun Investment.

We guarantee that the ugly duckling will transform into a white swan in seconds. With such high growth expectations and the largest market share in the country, there is unlimited room for imagination.

With the support of internationally renowned venture capital institutions and powerful local figures in Shanghai, it is extremely easy to issue bonds.

For this reason, he even dared to guarantee: "Chairman, there is a three to five million yuan arrangement in the early stage. At most three months, at least this amount can be brought back from the market."

As he spoke, he raised three fingers. The unit was naturally not tens of millions, but hundreds of millions.

For ordinary people, borrowing money is so difficult, but for Fang Guohui, who is familiar with the inside story and has connections, the financial market is as easy as picking up money.

Of course, the prerequisite is to have a foundation like Qingyun Group. If it were any other company, even if they offered 30% or 50%, no one might take the order.

"Seven percentage points per year?"

Li Zehua was making tea and subconsciously glanced at the document. "It's a bit too much. This also includes various handling fees and rebates. Three hundred million, how about cutting 15% first?"

Fang Guohui smiled and said, “Not much at all. I have seen the loan documents under the name of Qingyun Real Estate, and you are required to provide a personal joint guarantee.

When it comes to business, let me be fair, but who can guarantee success?

If every entrepreneur has to provide unlimited guarantee liability before getting money from the market, who would dare to start a business?
Isn't this curbing the speed of economic development? It is also not in line with the laws of social development. Please look at these disclaimers. We are professional and guarantee that the source of this money is clean.

It can withstand investigations from all parties, ensuring that enterprises can use it with confidence. "

Finally, there is a flower happiness that I haven’t mentioned, but everyone understands it.

Li Zehua could not deny it. When in Rome, do as the Romans do. Just consider it as paying protection money.

More than 200 million yuan was raised in three months, which is just enough to provide financial support for future investments in commercial real estate, drones, navigation maps and monitoring equipment.

(End of this chapter)