Hong Kong Island's New Rich Era

Chapter 29 North America Trip
The development of a manufacturing company generally requires it to first establish itself in the local market and gain certain technological progress and quality experience.

When they have a certain degree of confidence, they will expand overseas. This is a normal development path for a manufacturing company.

In the past, domestically produced construction machinery was a good example. It first developed domestically, and after reaching a certain scale, it seized the opportunities of the Belt and Road Initiative and entered the overseas market.

The more domestic markets a company has, the more likely it is to achieve success. A strong domestic market means it has a solid foundation, and the more likely it is to succeed in overseas markets.

Manufacturing companies in Hong Kong, a small place like Hong Kong, obviously do not have such conditions and are basically engaged in OEM for foreign brands.

In the end, only some manufacturing companies that seized the opportunity of reform and opening up of the mainland market survived, while most of those that did not seize the opportunity disappeared.

The future of Orange Technology and Chigo Industry naturally lies in the mainland, but if they want to enter the mainland market, they have to wait until at least after the reform and opening up, which is at least several years or even ten years from now.

At present, if enterprises want to develop, they must rely on the European and American markets. And the basic plate of Hong Kong is real estate. This is a reality that cannot be faced.

However, the more high-end the product, the more difficult it is to enter the mature market, unless there is a technological revolution and you happen to seize the opportunity.

For example, in the automobile industry, after the European and American markets stabilized, there were basically no new players entering the market, and there were only a few top players over and over again.

In the 70s, large items such as air conditioners, refrigerators, and televisions were popular industries, and there were a large number of well-known brands in Western countries. If you were a new brand, it would be difficult to enter this traditional market of European and American capital.

Therefore, Liu Zhicheng chose the low value-added electric fans as the industrial entry point at that time. No matter how big your business is, no one will be jealous.

But Orange Technology’s products are more troublesome, and Liu Zhicheng must be prepared for his trip to the beautiful country.

Arcade games currently have no channels, and after becoming popular, they will face suppression from RB companies.

The most difficult part is to open up the market, so Liu Zhicheng plans to let the arcade machines enter a supermarket of a certain size, let it ferment naturally and gain market recognition.

In this way, we can gradually gain a foothold in foreign markets, and then people will definitely come to us and seek cooperation.

So, the first time entering is the most difficult, but it will be much easier later on, and it will become easier and easier.

In preparation for this trip to the United States, Liu Zhicheng opened a new account at Citibank and deposited 2.1 million Hong Kong dollars, which was converted into US dollars, equivalent to 4000 million US dollars, in preparation for the trip.

She discussed it with her mother and finally Yin Huifen agreed to come to Hong Kong to help handle some company affairs.

It’s not that Liu Zhicheng doesn’t trust the current management, but now is a critical moment for Orange Technology and no accidents can occur.

Of course, going to the beautiful country is not just for tourism. The most important thing is to successfully enter the North American market for your own arcade games.

Although the sales representatives of Orange Technology have established good relationships with the purchasing departments of some chain retailers, Chigo's electric fans have been successfully put on the shelves.

Arcade machines are different from electric fans. These are far from enough and must have a major layout.

From Hong Kong to Los Angeles, USA, Liu Zhicheng had to stop in Tokyo to refuel. It took a day and a night to reach the west coast of the United States and then fly to New York. He was almost exhausted.

Fortunately, I was sitting in first class, where I could lie down and rest, and there was enough space to move around, otherwise I would have gone crazy.

There were also people picking us up at the airport in Beautiful Country. Orange Technology has an office in Beautiful Country, and several resident sales representatives picked us up at the airport.

"Mr. Liu, this way please."

Wang Xianguo, head of North American sales at Orange Technology, brought Liu Zhicheng and his team to the parking lot next to the airport, where two company business vehicles were already waiting.

After Liu Zhicheng got in the car, he felt very comfortable. The American car had a large space, which was very good.

Along the way, Liu Zhicheng asked about Wang Xianguo's work in the United States in the past few months.

Just after the Spring Festival, Wang Xianguo came to America and began to work with retailers in America to expand the fan market for Chigo Industry. Currently, the only large retail giants in America are Celtic Supermarket and Sears, and Wal-Mart is still a regional company.

These two leading retail companies have annual sales of more than 10 billion US dollars and have branches across the United States.

However, Liu Zhicheng did not have high requirements for Wang Xianguo and did not force him to enter the supply chain of these two supermarkets.

Liu Zhicheng only asked them to enter a supermarket, which was a regional supermarket with an annual turnover of only two or three hundred million US dollars, namely the Walmart supermarket headquartered in Arkansas.

After several months of hard work by Wang Xianguo and his colleagues, they took advantage of Chigo fans' price advantage and successfully put Chigo Feng fans on the shelves of Walmart supermarkets.

A deputy manager of Wal-Mart's purchasing department also became good friends with Wang Xianguo. Liu Zhicheng specifically reminded Wang Xianguo not to cross FL's bottom line.

Liu Zhicheng and his team went straight to Citibank's headquarters without having time to adjust to the time difference. Wang Xianguo had already made an appointment to meet with York, the bank's senior investment manager.

Because Liu Zhicheng had tens of millions of US dollars in deposits in Citibank, he naturally became a high-level VIP customer of Citibank.

"Hello, Mr. Liu."

York, a senior investment manager at Citibank, knew that a VIP client would come to discuss investment business today, so he attached great importance to it and had been waiting in the lobby for a long time.

"Hello, York." Liu Zhicheng also said politely.

York smiled and said, "Mr. Liu, please follow me."

Liu Zhicheng only brought lawyer Wang Fengyun with him, and followed York to the 42nd floor by elevator, while the others stayed and waited.

After the three of them entered a separate office, one of York's assistants immediately came over and served them brewed coffee.

York smiled and said, "Mr. Liu, only the most distinguished guests can enjoy this coffee, a high mountain variety specially shipped from Colombia."

"Then I am honored. Thank you for your hospitality, York."

Liu Zhicheng took a sip and said, "Not bad, great!"

As a Chinese who has lived two lives, Liu Zhicheng is not interested in coffee, but he has to brag about it for the sake of socializing.

The two chatted for a while and then got down to business.

"Mr. Liu, your assistant told me on the phone that you want to entrust Citibank to make an investment. What project do you want to invest in?"

"I want to invest in the stock of a retail company and would like to get help from Citibank."

Liu Zhicheng took another sip of coffee and said slowly, "This retail company is called Walmart."

“Wal-Mart?”

York thought for a moment and asked, "Mr. Liu, are you talking about the Walmart in Arkansas?"

"It's this supermarket." Liu Zhicheng nodded and said.

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(End of this chapter)