Becoming Rich with Daily Scavenging APP-Chapter 559: I Don’t Have High Hopes

"Additionally," Wang Wei continued, "to ensure our fresh produce stores provide top-notch service and are of premium quality, we will standardize all our stores to maintain consistency across the board.

Since we present ourselves as a boutique store, we must guarantee the quality of all our fresh produce and cannot allow any spoilage.

In the past, fresh produce chain brands typically had supervisors conduct occasional spot checks for these issues.

However, this often led to some employees only doing their jobs during inspections.

So we have adopted an intelligent high-definition camera monitoring system.

This involves installing high-definition cameras in stores to enable remote surveillance of all locations by supervisors.

This system allows supervisors to oversee all stores remotely through shift rotations. If any spoilage occurs, staff can be immediately alerted to discard or replace the items, preventing customers from purchasing them.

It also helps ensure that staff maintain the store’s hygiene standards and do not slack off.

Moreover, Miracle Fresh Produce has established partnerships with several supply bases. We only accept goods from these partnered suppliers to maintain product variety consistency."

"You’ve previously said that you only operate offline, not online. But if I want to invest in your stores, I hope you can integrate with my express delivery brand. How will you solve this?"

"While we operate predominantly offline, we aren’t entirely disconnected from online operations. Our approach to online services is that orders can be placed online, but our service is limited to payments and selection of existing goods.

That is to say, customers can only buy what’s available in-store from online. We don’t accept pre-orders, making it easy to integrate with your express shopping program."

After listening to Wang Wei, Chen Yiyang felt that Wang’s approach to managing fresh produce was undoubtedly sound.

With significant capital support, rapid expansion, and economies of scale can be achieved.

The future would be limitless.

Moreover, focusing solely on fresh produce means less baggage.

There’s no need to be dragged down by many unprofitable ventures like Yonghui.

Hence, Chen Yiyang immediately decided to invest in Miracle Fresh Produce.

However, this investment will not be made public at the moment.

Chen Yiyang needs to wait for the right timing.

Meanwhile, on the acquisition front, there was already a fallout between Chen Yiyang and Yonghui, halting all acquisition work and ceasing negotiations with Yonghui’s major shareholders.

During this pause, Yonghui specifically issued a statement mentioning that both Chen Yiyang and Mingchuang Youpin were interested in acquiring Yonghui.

Upon hearing this news, the market saw Yonghui’s stock price immediately bounce back.

Subsequently, Chen Yiyang reached out to Mingchuang Youpin’s CEO, Ye Guofu.

"Is Mingchuang Youpin planning to acquire Yonghui?" Chen Yiyang asked over the phone.

"I don’t have any intention to invest in Yonghui," replied Ye Guofu, though not entirely ruling it out.

But this response was evidence that Mingchuang Youpin was indeed contemplating the idea.

"What are the terms you’re discussing with Yonghui? Three board seats each?"

"How did you know?" a surprised Ye Guofu responded.

Negotiations about board seats are highly confidential.

Ye Guofu was taken aback that Chen Yiyang was aware of this.

"I guessed, because when we initially negotiated with Yonghui, their promise was three seats for us and two for them.

But after your entry, they wanted an additional seat."

"Is that so." After a moment of silence, Ye Guofu continued, "Frankly, I think Mr. Chen, you could consider co-investing in Yonghui with Mingchuang Youpin.

Personally, I have a positive outlook on Yonghui. If we both invest, Yonghui’s market value could quickly rise back to its peak."

"I’m not interested in that," Chen Yiyang replied, "but currently, I hold an eight percent stake in Yonghui.

If you acquire another twenty-six percent, combined with my eight percent, you’ll have thirty-four percent in Yonghui and a veto power.

At that point, you’ll have a decisive voice in board seat allocation."

In general, large companies typically prefer potential investors, no matter how good the relationship, not to own more than thirty-four percent.

This is because a major shareholder with such influence can rally other shareholders and potentially remove the founder.

Yet Zhang Xuansong would never have imagined that Chen Yiyang was willing to sell his stake to Mingchuang Youpin and get out.

According to Zhang’s calculations, the news of Mingchuang and Chen Yiyang’s co-investment in Yonghui would cause the market value to continuously rise.

Holding onto those shares would bring constant earnings each day.

They could be gradually sold off for endless profit.

A deal with no downside.

But that was exactly the profit Chen Yiyang wasn’t interested in.

Zhang Xuansong’s actions this time had genuinely disgusted him.

He had facilitated Shoudonglai’s assistance in Yonghui’s restructuring, and even negotiated early on that Yonghui would follow the Shoudonglai model going forward.

This involved offering benefits to customers and employees and following a sustainable, healthy model.

Yet Zhang Xuansong was only concerned with making money.

He used Shoudonglai’s aid to make money, using Chen Yiyang’s investment reputation to make money.

And then, worried that Chen Yiyang might obstruct his profits, he brought in Mingchuang Youpin.

There’s no way Chen Yiyang would let him get away with that.

Thus, Chen Yiyang decided to take a financial hit if necessary, but ensure Mingchuang Youpin acquired a veto power share.

Once that’s done, no matter what actions Mingchuang Youpin takes, it’s essentially like having a parent looking over Zhang Xuansong.

Ye Guofu, upon hearing that Chen Yiyang was willing to sell his shares, was, of course, in full support.

Even though selling now brought a much higher price than when first acquired, it wasn’t overly excessive.

The eight percent stake Chen Yiyang held was originally valued at about fifteen billion.

Now he sold it to Mingchuang for twenty billion.

A profit of five billion.

But once Mingchuang watches Yonghui’s shares rise, the eventual sell-off will earn far beyond those five billion.

After reaching an agreement with Mingchuang Youpin and selling off his shares,

Chen Yiyang surprisingly accepted a phone interview with a media outlet.

"Hello, Mr. Chen," the reporter asked on the other end, "we’ve heard you’ve invested in Yonghui. Could you comment on whether you have confidence in Yonghui’s future chain supermarket model?"

"I’m only optimistic about Shoudonglai’s business model," Chen Yiyang replied.

"We’ve heard you facilitated Shoudonglai’s transformation of Yonghui. Do you foresee Yonghui evolving into a chain supermarket akin to Shoudonglai?"

"Not optimistic," Chen Yiyang replied bluntly, "didn’t you hear the other day when Mr. Yu criticized Yonghui on stage, saying Yonghui made money but didn’t distribute it to employees? With that mindset, they’ll never be like Shoudonglai."