The next day, Zhang Yida drove from the hotel to the West Africa headquarters of Trustar Technology.

Place is also on Victoria Island, a short walk from the Oriental Hotel, a five minute drive away.

When he arrived at the door of a high-end office building, after getting off the bus, Zhang Yida took a few looks, and there was not much difference between him and the high-end office buildings in China.

The difference is that domestic security guards are generally bare-handed, at most with a scaring baton.

It's a good place here, two strong black men with AK47s standing in the doorway.

This shows the security of Nigeria!

However, the security on Victoria Island is very good, and there are generally no major problems.

Because it is a wealthy neighborhood, there is a lot of police deployed here, and there are also a large number of companies and gun-armed security guards hired by the wealthy.

Chinese technology companies going overseas, as well as multinational companies from Europe and the United States, are also concentrated here.

Cao Lu waited at the door of the office building with several executives early, and when he saw Zhang Yida and his party arried, he hurriedly stepped forward to greet Zhang Yida and his party upstairs.

Transfar Technology Co., Ltd. is registered in Hong Kong, with Ruixiang holding 51% of the shares and Transsion holding 49% of the shares.

At present, it has 4 subsidiaries, and its business covers four directions: mobile payment, music, short video, and news aggregation.

The four products are: mobile payment PalmPay, music streaming platform Bopy, short video platform Vskit, and news aggregation app Scooper.

As the headquarters of West Africa, Trucloud is not small in Lagos, with nearly 300 Chinese employees engaged in technical and operational work alone.

In addition, there are thousands of non-resident employees, mainly engaged in auxiliary work, such as drivers, cooks, cleaners, security guards, etc.

The rent of the office building is not cheap, the rent for a year is 600 US dollars per square meter, and the company rents five floors, a full 8,000 square meters, and the rent alone needs to spend 4.8 million US dollars a year.

In addition, Chuanrui also leased hundreds of apartments as Chinese staff dormitories, the kind of three-bedroom and one-living room, one set for three employees, with a rent of 20,000 US dollars per set a year, and a year to spend 2 million US dollars.

In addition, the apartment property fee is very high, equivalent to half of the rent, and you need to pay millions of dollars a year.

This money cannot be saved, and it is also necessary to avoid any accidents in Lagos, where the security is not good, by gathering employees to live together and going out as much as possible.

Non-national employees do not need to pack accommodation, at most they can eat, but the meal standard is far from catching up with the Chinese staff.

After Zhang Yida went upstairs, he sat on the company's sofa, looking through the financial report of Chuanrui Company, and at the same time making a rough calculation in his heart.

If you add in the annual salary of 180 million yuan for 300 Chinese employees, the salary of 20 million yuan for more than 1,000 non-national employees.

The two major pieces of rent and manpower expenditure alone will cost 250 million yuan to nearly 260 million yuan every year, not including the cost of marketing and promotion of Internet products and various administrative expenses.

And that's just Nigeria alone.

Trucloud has a product R&D center in China, and has also set up branches in Kenya, Egypt, South Africa, Ethiopia, Ghana and other countries, and the annual expenditure of the entire company is 1 billion yuan.

What Shen Beipeng told him yesterday made him wake up a lot.

The domestic experience cannot be copied from all the past, and if you stupidly spend money on subsidies in Africa, it is likely that you will end up with chicken feathers and wool by black buddies.

You have to learn to calculate the economic accounts!

After a brief look at the financial report, Zhang Yida almost knew it.

put aside the financial report and gave an order to Cao Lu, who was sitting on the side, to call all the company's executives to the conference room to prepare for the meeting.

"Cao Lu, you first talk about the development of the company's various products. ”

Zhang Yida sat in the first place, and after seeing that everyone had arrived, he turned his head to look at Cao Lu, who was sitting on his left hand, and gave an order.

Cao Lu nodded, got up and walked to the projector, ready to play PPT.

Cao Lu looked at Zhang Yida and asked: "Transsion is an important shareholder of our company, and it is also an important partner, should I talk about Transsion first?"

Zhang Yida nodded, Ruixiang does not have much resources in Africa, and Chuanrui does rely on Transsion very much to develop, which must be frankly admitted.

However, Ruixiang's R&D and operation experience in Internet products is not comparable to Transsion.

The cooperation between the two sides is also to learn from each other's strengths and make a big cake together, and there is no such thing as who takes advantage of whom.

If you can't bring substantial benefits to Transsion, the ghost will cooperate with you.

Shen Beipeng and Xu Xiaoming were also present, and they were very interested in Transsion's message and wanted to hear how amazing this king of Africa was.

Cao Lu opened the PPT and began to introduce: "In Africa, Transsion far surpassed other competitors with a market share of 48.71% last year, and Samsung, which ranked second, was only 10.27%.

Transsion's total shipments are 124 million units, ranking fourth among global mobile phone brand manufacturers, second only to Samsung, Apple and Huawei, and higher than rice, OPPO and vivo.

Of course, this number includes feature phones.

Next, let's look at the data of smartphones separately.

With affordable prices and down-to-earth functions, Transsion smartphones shipped 34.06 million units in Africa last year, accounting for 34.3% of the African smartphone market, and also ranking first in Africa.

Samsung and Birch are second and third, with 22.6% and 9.9% market share, respectively.

Transsion Holdings' mobile phone brands are equipped with self-developed smart terminal operating systems, HiOS, itelOS and XOS.

Up to now, more than 80 million Transsion smartphones have been connected to the Internet every month, 80% of which are in Africa.

At present, all four APP applications of Transnova have reached cooperation with Transsion, and all of them have opened the pre-installation mode.

As long as users buy Transsion mobile phones, in addition to the feature phone itel, the low-end smartphone Infinix and the mid-to-high-end brand TECNO will be pre-installed with our product applications.

At present, we have 4 Internet applications, and each of them has tens of millions of monthly active users!"

Zhang Yida leaned back in his chair, thinking seriously.

Ruixiang is not only a shareholder of Transsion, but also a partner of Transsion in the Internet business.

The reason why the four subsidiaries of Transcent have been able to achieve the current results is due to the great credit of Transsion.

The APP is directly pre-installed and shipped out of the factory, saving a lot of promotion effort and cost.

In addition to the four applications of the Truscent system, Transsion also has the instant messaging software Palmchat and the app store PalmPy, which are all applications launched before the establishment of Trusion.

Zhang Yida is very greedy for these two applications, and has always wanted Zhu Zhaojiang to transfer these two software to the Chuanrui system, but the latter will not let him live or die.

In addition, Transsion's Internet territory also includes mobile phone manager, browsers, web portals, etc., which are currently wholly controlled by Transsion.

Of course, these Zhang Yida are not very attractive.

PalmPy has 50 million users in Africa, a figure second only to Google Play.

And Palmchat is even more ruthless, this app called "African WeChat" does not even let go of a feature phone, must be pre-installed one, and has nearly 200 million registered users.

There is a lot of room for imagination here, and if Transsion can continue to dominate the African smartphone market, it will not be a problem at all to tear off a big cake in the very Internet market.

Cao Lu, as the CEO of the parent company Chuanrui, made a few more summary remarks and handed over the specific business introduction to the person in charge of the four applications.

Reeves, as CEO of PalmPay, was the first to take the stage to speak.

"PalmPay has entered 7 countries including Nigeria, Kenya, Ghana, and South Africa, with more than 30 million registered users.

The services provided include: electronic payment, transfer and remittance, mobile phone bill and data top-up, water, electricity and cable TV bill payment, etc.

There is a 10% discount on top-up of phone bills on PalmPay, and there is no charge for transfers between users, and a small fee is charged for external accounts, such as bank transfers.

In addition to Transsion, another strategic partner of PalmPay is Visa.

Visa cardholders can link their cards to pay on our platform, while card-not-not-present users will receive a virtual Visa account to access Visa's payment network and access Visa's financial products.

In the future, we plan to add more than 100,000 merchants that support Visa payments to complement our online payment network.

At present, the time is not yet ripe for us to launch consumer financial services and wealth management services such as Yongbei and Loan.

Partnering with Visa only enriches our merchant base and financial services.

When the time is ripe in the future, it will still use payment to derive more financial services like Ruixiang, so as to increase revenue and profits.

In addition, we have reached cooperation with several major African banks, including Pan-African Commercial Bank, and cross-border remittance business between African countries will be our next focus. ”

Zhang Yida nodded and motioned for Reeves to continue, who bowed slightly and continued: "Then let's talk about PalmPay's competitors in Nigeria and even the whole of Africa.

We have 7 main competitors in Nigeria, and each of them is not weak.

They are JumiaPay, launched by local e-commerce giant Jumia, and Interswitch, which has reached a blockchain supply chain finance cooperation with Microsoft.

On a side note, Interswitch is rumored to be very close to a unicorn valuation, but there has not yet been a public funding to confirm the identity of a unicorn.

Once successful, they will be Africa's second unicorn. ”

Zhang Yida and Shen Beipeng glanced at each other, and they both saw the strangeness in each other's eyes.

Reeves flipped the page of the PPT and continued: "Silicon Valley star incubator YC graduates and Penguin-backed financial start-up Flutterwave, a partner of Paystack and Alibe, are also our fierce rivals.

There are also Cellunt, which has completed a $47.5 million Series C round and Paga, which has completed a $10 million Series B+ investment.

These two companies have been established for a long time, one in 2004 and the other in 2009, and both have done business in African countries other than Nigeria, with tens of millions of registered users, and their strength should not be underestimated.

The last one is Opay, which is controlled by the same Chinese-funded enterprises as us, and their controlling shareholder is Kunlun Wanwei. ”

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