Chapter 601: April General Meeting

The Internet Conference is being actively organized with official backing, making the event’s warm-up very lively.

Some prominent online bloggers have also started to ride the wave of publicity, educating everyone about the intent of this conference.

In summary, the nation has embarked on a fast-paced development path of ‘Internet Plus,’ and the future internet industry will receive strong support and expansive growth.

Due to the prestigious nature of the conference, the guest list has stirred quite a buzz.

Among those invited, Jiang Qin is the youngest,

A 22-year-old university student. This news went viral as soon as it was released; Linchuan University’s admission plans are about to start, seizing the moment to cycle the news of Jiang Qin’s achievements.

The organizers of the conference also made a special call to go through the schedule with Jiang Qin,

He’s to give a speech and engage in a friendly discussion with the two Uncle Mas. Jiang Qin gladly agreed.

Although the dialogue is friendly, the war in the food delivery arena is escalating.

Group-Buy Delivery, with an initial subsidy campaign of implementing a two-thousand subsidy, quickly signed up quality riders and established a dedicated delivery business group.

Part-time riders, meanwhile, are managed by the Group-Buy crowdsourcing business group.

The riders are now being categorized and managed differently.

Hungry Yet and Baidu Delivery are helpless, and as the youngest player, Praise Delivery’s business is dwindling.

Even worse are the others, categorized simply as ‘other’.

Additional, unimportant ones.

Since small platforms can’t afford to burn cash, riders are naturally unwilling to take their orders, leading to their demise once they run out of delivery riders.

There’s an exception among these ‘others’, called Super Delivery Man.

Super Delivery Man has foreign backing and also received investment from Hurricane Investment, so money isn’t an issue; their misfortune, however, lies here.

As soon as they entered the market, someone inexplicably criticized their food quality as terrible, complaining that the beef noodle soup was poorly packed and half the broth had spilled.

Then, the head of Super Delivery Man, Liu Yihua, was bewildered.

They had researched the market upon entering and found low-end saturated, so they aimed at a high-end delivery market, meaning they never sell beef noodles…

Before this issue was even resolved, a subsidy war began.

Everyone was burning money. Well, so would they!

However, Liu Yihua realized he had misjudged his target.

The food delivery customer base consists of people too busy to dine out themselves; these people don’t care about whether the food is high-end.

While there is a market for luxury food delivery, it should not be the sole focus.

Starting on serving elite white-collar workers, he hit a wall and discovered the market actually favors those catering to average consumers.

This leads to a consequence: low order volume means burning subsidies for riders is futile.

Riders like subsidies, but without orders, subsidies are pointless.

So Liu Yihua started using money to subsidize customers instead, offering an eighty percent discount to boost user numbers and match them with riders, managing to survive by a stroke of luck.

Elder Feng Shihua of Feng’s family became silent after reading the monthly report.

Upon entering the market, this ‘superhero’ threw punches, creating a dazzling display, but hitting no one and exhausting himself was not the intended outcome.

Super Delivery Man has always been successful in the Southeast Asian market, and their global strategic layout has been impressive.

Their market value of twenty billion U.S. dollars wasn’t just talk, but their entry into the domestic market turned them into weaklings.

“Mr. Liu, this won’t do.”

“Mr. Feng, the Chinese food delivery market is somewhat peculiar. People even consider pizza a luxury food.”

Feng Shihua grimaced, “Lower your stance a bit. Though the domestic market is vast, the luxury delivery you offer isn’t affordable for everyone.”

A rough start isn’t critical; Super Delivery Man quickly shifted focus to a mid-to-low-end market for white-collar workers.

Unfortunately, his second market choice was dominated by Baidu Delivery.

Having just acquired Fast Order, Baidu Delivery lacked neither personnel nor funds, and delivered a heavy blow, leaving Super Delivery Man disoriented.

Feng Shihua chuckled.

He reclaimed control over Feng Shi Real Estate and Hurricane Investment from Qin Jingqiu and immediately invested in Super Delivery Man, essentially testing the waters of the domestic internet market.

Everyone knows this phase in China; the internet is a huge gold mine.

But he hadn’t anticipated the globally dominant Super Delivery Man becoming so frail upon entering this market, contrasting greatly with his overseas understanding.

In fact, while power plays a role, they underestimated the internal competition within domestic commerce.

Amazon, Yahoo, Groupon, and now Super Delivery Man—all came in fiercely in recent years and retreated in defeat.

This failed trial made Feng Shihua realize that foreign tactics simply don’t work in the domestic market.

At noon, Feng Shihua, riding back from the China headquarters of Super Delivery Man, couldn’t help massaging his temples, feeling utterly exhausted.

He’s struggling to adapt to the domestic pace, just like the foreign-backed Super Delivery Man is struggling with the local market.

“Uncle Gong, drive slower.”

“Alright.”

Feng Shihua closed his eyes.

Uncle Gong glanced at him through the rear mirror, “Elder, are things not going smoothly?”

“Indeed, they aren’t. Oh, Uncle Gong, please refer to me as President Feng in public.”

“Alright, President Feng.”

Feng Shihua looked out the window, “I was able to regain control of the company from Qin Jingqiu because I’m a Feng. The shareholders respect my father, but if I can’t achieve the peak successes from Qin Jingqiu’s era, this respect won’t last forever.”

Uncle Gong didn’t fully understand but knew his visit to Super Delivery Man’s headquarters was unfruitful, mulling over this before speaking, “President Feng, perhaps you should meet Miss Nanshu.”

“Help me bring Nanshu here when summer vacation starts.”

“Alright…”

Uncle Gong sighed, not continuing.

What he was trying to remind Feng Shihua was, my goodness, why spend money on that superhero? Our son-in-law rules the food delivery market.

Have you seen that Group-Buy? Yellow and everywhere!

Meet Miss Nanshu, make her happy, and our son-in-law might just be able to help you find a shortcut.

Thinking about it, Uncle Gong suddenly realized his book “Pride of the The Eternal Son-in-Law” was in the back, so he coughed, “President Feng, if you’re feeling tired, how about reading some web novels to relax?”

“The Crazy Implication”

Feng Shihua picked it up, glanced at it, uninterested, and casually placed it back on the seat.

Uncle Gong felt somewhat helpless and kept silent focusing on driving.

Soon, the car pulled into the villa.

Duan Ying and Andy were playing on the lawn and immediately came up to greet the car.

“You’re back. How’s business?”

“A waste. I invested money, and they don’t even know how to spend it right.”

Duan Ying brought him some tea, “What about Feng Shi Real Estate?”

Feng Shihua took a sip of tea, “When Qin Jingqiu was here, she was advancing the development of mixed-use complexes, integrating commerce, office, residential, entertainment, and dining, which significantly appreciated the surrounding areas. I plan to continue this direction.”

“So, Hurricane Investment’s investment isn’t going well?”

“The domestic internet commercial sector is still starting up. There are lots of opportunities, but it’s highly competitive. A trend involves countless participants. I thought foreign monks could chant well, but it just doesn’t work here.”

Duan Ying nodded thoughtfully, “By the way, honey, do you remember my nephew?”

Feng Shihua paused, “Your nephew?”

“Yes, his name is Duan Wenzhao. He came to our wedding.”

“A bit of an impression. Is he the tall, thin one with fine eyebrows?”

Duan Ying nodded, “He’s running a food delivery platform too, and it’s doing quite well. Called ‘Meal Point’ and it’s now widely used across major universities nationwide, and it’s turning a profit. He just needs some investment now.”

Feng Shihua glanced at her, “You haven’t mentioned this before, have you?”

“Actually, the day I came back from overseas, my brother’s family came to see me. Wenzhao wanted to seek your investment, but I refused him.”

“Why?”

Duan Ying held his hand, “You had just taken the company from Qin Jingqiu, and your credibility wasn’t established yet; then immediately investing in my relative wasn’t a wise move.”

Feng Shihua thought for a moment, “Did he bring his project proposal and development report?

“He did, it’s in my room. Do you want to see it?”

“That superhero is unreliable, but if Hurricane Investment wants to make a mark in the internet sector, we need something solid to show for it. Otherwise, the shareholders won’t agree to future ventures. Let’s take a look; it won’t take much time.”

Duan Ying stood up, took a step out, then hesitated and stepped back, “Let’s leave it, Shengrong; you’re too tired today. We can look at it tomorrow.”

Feng Shihua smiled, “It’s okay, go get it.”

“You’re impossible.”

“…”

A few minutes later, Duan Ying returned to the living room, bringing the project proposal and development report for 【Meal Point】, showing it to Feng Shihua.

The college student market is relatively easy to manage within the national scope because the competition isn’t fierce, and the fixed position of the personnel is quite conducive for delivery.

So although 【Meal Point】 isn’t as prominent as the top platforms, its recent development report looks very promising, especially the speed of business growth, comparable to the early growth of Hungry Yet, which surprises Feng Shihua.

“Wenzhao, this little guy, actually made something happen.”

“Really? I don’t quite understand it.”

Feng Shihua closed the project proposal, “Have him come over; I’ll talk to him.”

Duan Ying nodded, “Alright, I’ll call him later.”