Chapter 464 Amazing annual profits
After the heads of each subsidiary left, Wang Fengzhi also walked in with several pieces of information and said: "Yang Sheng, the profit data of each subsidiary has been released."
The business data within the group do not need to be kept secret from each other, because the scale cannot be hidden, but the net profit is a secret that only the headquarters knows. Each subsidiary only needs to know its own situation.
Although you can sometimes guess, it is impossible to guess accurately. Only the headquarters has the data of all subsidiaries, and even at the headquarters, many people are responsible for different businesses, and they are not allowed to disclose the company to each other. Confidential.
"Okay, let me take a look." Yang Wendong took the information and read it carefully.
In fact, he also knows the general data, but he also has to look at the complete financial data at the end of every year.
Wang Fengzhi explained: “The one with the highest net profit last year was Changxing Industrial, with the combined net profit of the four business divisions being HK$77.63 million;
Ranked second is Changxing Shipping, with a net profit of 41 million, but these do not take into account the cost of purchasing new ships. These costs will be depreciated after the ships are operated in the future, including the new ships we are already operating. This logic. ”
"Well... just follow your financial calculation method." Yang Wendong nodded and asked: "What about Changxing Real Estate? There was no profit last year?"
Land prices have been falling for 65 years. Naturally, Yang Wendong will not let Changxing Real Estate do anything else. In Hong Kong, apart from rent collection, there is basically no other business income.
Wang Fengzhi said: "Yes, the income of Changxing Real Estate last year was very low, with only a net profit of more than 3 million Hong Kong dollars. The main source was rent collection. However, not all rental income is not affected by the real estate crisis. Many businesses went bankrupt, and some There is no long-term agreement signed, and the income from this area has also plummeted
In addition, many real estate properties were purchased with loans in the early stages, and the rental income also needs to pay the mortgage, so the income is not high.
As for the former naval site land purchased in the second half of last year and the investment in Singapore, in principle, like new ships, they need to be depreciated after subsequent operations, so they are not included in this year's profits. ”
"Okay, more than 3 million is enough." Yang Wendong said with a smile: "The cash out of Changxing Real Estate last year made more than 100 million, which is much better than Changxing Industrial."
During the real estate crisis, naturally you should not think about making money, but spend money. It makes more sense to buy at the bottom. However, it is not that time yet, so everything can only be on hold.
Wang Fengzhi continued: "Like Changxing Real Estate, there are Changxing Media and Carrefour. The main business of these two subsidiaries is in Hong Kong. There is a problem in Hong Kong's economy. They are having a hard time, and they all have losses in their accounts.
So I deliberately transferred the depreciation of infrastructure equipment to the future, and then depreciated it later when it was profitable. This is also a legal tax avoidance. ”
Yang Wendong said: "It's okay, it's a method. What about Watsons and Honor Electronics?"
Wang Fengzhi replied: "Both Watsons and Honor Electronics have good results. Watsons' net profit last year was 17.9 million yuan, and the average profit margin was about 10%. However, the OEM profit for Pepsi is only about 5%. Several of our own products, The profit margin is much higher, with the highest herbal tea having a profit of 30%
Honor Electronics' net profit last year was 32.6 million yuan. The profit margins of various electrical appliances in Hong Kong and overseas are very high. However, in order to promote the brand, it also spent a lot of money on advertising operations. Last year, the advertising investment was 21 million yuan. ”
"It's okay. We still have to invest in advertising." Yang Wendong said: "In the future, Honor will enter more home appliance industries. As long as the brand is promoted, the later costs will be reduced a lot."
Suppose a brand is No. 1 in the region in making electric fans, and then it makes other home appliances. Although consumers may not trust this brand of home appliances, at least they know the name and don't worry about after-sales problems. This is a great help.
And in the after-sales area, if a product has an after-sales point, it is much more convenient to add other products than to rebuild the after-sales point alone.
"Yes, the early investment in building a brand must be much higher." Wang Fengzhi also agreed: "Also, Changxing Culture's profit margin is higher, comics and newspapers are better, only about 20%, but some stickers, toys , the profit rate is as high as over 200%
Last year, Changxing Culture's total profit was 11 million, with a profit margin of 40%. This was because a lot of money was invested in the production of cartoons. ”
"I know that the cartoon itself will not be very profitable, but if it is played in many places, the various peripheral derivatives will be the main profit." Yang Wendong nodded.
Whether it's cartoons or comic books, they don't need to make a profit. All they have to do is sell it to everyone as cheaply as possible. As long as there are enough people who like it, the various peripherals can make ten times the profit.
This logic is actually very similar to that of the Internet. The software itself attracts users for free, and then finds ways to attract other industries that can make money. However, comics in traditional industries cannot deliver newspapers for free, at most at low prices.
Wang Fengzhi said: "Yes, there were some other investments at the group level last year, such as the acquisition of KFC and the investment in Hang Seng Bank. Since they were not cashed out, I did not include them in the group's profit table.
If these industries have operational results in the future, or if we cash out one day, I will include them in the calculation. ”
"Yes, KFC won't be big in the short term. According to Hang Seng Bank, it is an investment. Even if it is listed on the market one day, unless we cash out, otherwise we will just count the company's assets. We do not count the appreciation or decline of real estate and the stock market for annual profits. It’s worth it,” Yang Wendong continued.
Putting these financial data into the financial report will only affect the results of the real industry. For Changxing Group, the core is industry and some service industries, not finance. No matter how much money is made in finance, Yang Wendong is also prepared to rely on it and then Support several of its core industries.
Wang Fengzhi continued: "Understand, based on various data, the group's net profit last year was HK$170 million, which has exceeded HSBC." "We also relied on overseas to achieve today's results." Yang Wendong said: " If it’s just in Hong Kong, it’s basically impossible to surpass HSBC.”
Even HSBC itself will become one of the world's top ten banks in the future by expanding overseas.
Wang Fengzhi nodded and said: "Yes, Changxing Industrial, Changxing Shipping, Watsons, and Honor Electronics all rely on overseas investment. Even Changxing Real Estate is now focusing on investing in Singapore."
"Okay, let's do that." Yang Wendong said again: "It's still the old rules. Before the Chinese New Year, the company distributes more benefits to group employees. The finance department must cooperate with the anti-corruption department at the headquarters to conduct investigations to ensure that no problems arise. If there are problems, they will be reported immediately Call the police.”
Corruption is a big problem for any large group. It is true that some managers have too much power. Although their income is not low, it is far behind compared to the money or things passing through their hands.
Therefore, internal anti-corruption is also the top priority of Changxing Group. It has always adopted a high-pressure policy. A thousand-mile dam bursts in an ant nest. This sentence is also a summary of the wealth of the ancients. In the early days, when the scale of corruption was small, it was not taken seriously. When internal gangs formed, It becomes difficult to treat, just like cancer cells.
Wang Fengzhi agreed and said: "Don't worry, Yang Sheng, I know what to do."
Anti-corruption within the Changxing Group is very strict. Sometimes they would rather spend 100,000 yuan to investigate evidence of embezzlement of 10,000 yuan, just to give others enough shock.
……
The entire group's accounts were settled at the end of the year. Yang Wendong didn't have much to do before the New Year. Naturally, there were dedicated people responsible for all the small things.
The time soon came to New Year's Eve.
"Boohoo~" A large number of fireworks were shot upward on the grass, and when they reached the air, they exploded with roaring sounds.
"It's so fun~" Several children of the Yang family were watching the fireworks from a distance. Every explosion brought them childlike laughter and they clapped their hands very diligently.
Yang Wendong and others were also waiting nearby, watching various fireworks. In an era without mobile phones, it was also very exciting to go out and watch the New Year fireworks.
"There will be something more fun later. I specially commissioned someone from China Resources to buy it from the mainland." Yang Wendong said with a smile.
Fireworks during the Spring Festival are a traditional Chinese festival. Many fireworks in Hong Kong are imported from the mainland. However, many fire accidents occurred in the early years. The Hong Kong government has also begun to restrict fireworks in densely populated places. In some rural areas or villa areas, Nature has no limits.
"Okay!" Bai Yushan also smiled happily, and played with the camera in her hand, taking pictures of the flames above.
The second daughter of the Bai family has good family conditions since she was a child. She has been exposed to photography since she was a child, so she knows how to play with cameras. In this regard, Yang Wendong and Su Yiyi are far inferior.
After a while, bigger fireworks spread out and lit up the entire sky, like a giant flower. After seeing it, it was unforgettable.
"Let's go home. TVB has prepared a Spring Festival Gala with many entertainment programs." Yang Wendong said with a smile: "From now on, the whole of Hong Kong will have programs to watch during the Chinese New Year."
Although Lai's TV station has been around since 1957, it is a British-owned TV station. Due to market demand, it has to focus on Cantonese or Mandarin programs, but its level of care is very average. There are only few TV series. It is just taking advantage of the fact that many people in Hong Kong have no entertainment. If you have to watch the program, you have to pay for it.
After TVB came out, it was naturally different. Even though there were no competitors, Yang Wendong asked the company to be divided into several departments, and then compete with each other for ratings, just to have good programs to watch. The same is true for the Spring Festival Gala. Each department does its own thing. , and then summarize who does the best, and those who do well will be rewarded. This can also be regarded as a way to avoid inaction due to monopoly.
After everyone went home, they turned on the TV station and saw that the Spring Festival Gala was about to begin.
Bai Yujie walked out from downstairs, Yang Wendong smiled and said: "Yujie, you missed the fireworks just now."
"Well, I watched the same thing through the glass upstairs." Bai Yujie replied with a smile.
Bai Yushan immediately stepped forward and turned off the sound of the TV.
"What's wrong?" Yang Wendong asked with some confusion.
Bai Yushan went over to support her sister, glanced at Yang Wendong, and said, "It's no big deal, it's just that you are going to be a father again, and Yujie is pregnant."
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(End of chapter)