Hong Kong, January 1995.

The 1994 annual meeting of Xinchuang Electronics Group was held.

The new headquarters of Xinye Electronics Group, a square that can accommodate 30,000 people to attend the meeting, after the tempered glass roof is closed, the air conditioning is turned on in the venue, even if the weather is in January, it is as warm as spring.

Xinchuang Electronics Group, as a company advocating decentralized management, basically delegates its daily operations to its subsidiaries. However, it is necessary to compile financial reports at the annual meeting every year.

In this way, the management of the group can have a more macro understanding of the overall performance of the group company.

"Thanks to the contributions of the employees of the group company and the employees of the subsidiaries, the consolidated revenue of the subsidiaries of the new venture electronics group reached 185 billion US dollars in the past year, an annual growth of about 25%. At the same time, the total profit attributable to the shareholders of the parent company of the group company reached 34.58 billion US dollars, with a growth rate of more than 40 percent! Of course, compared with some of the world's low-key money-making companies, such as Saudi Arabia's Aramco, the new venture electronics group is naturally willing to bow down......," Lin Qi said after the financial statements of the company's subsidiaries were summarized.

For a moment, the employees present couldn't help but be stunned, and soon laughed.

Compared to those oil companies, it is true that the new venture electronics group is not the most profitable. But...... In terms of future growth potential and the promotion of human society, companies like Xinchuang Electronics Group are the mainstay of changing human society.

As for resource oligarchs such as Aramco Oil, in essence, they are eating their old books and digging up seemingly abundant resources buried in the ground, but in fact, they will occasionally run out one day to make money. It seems that these companies are also working, but in fact, they are overdraft labor, digging up the existing resources and supplying them to the market for consumption.

But no matter how abundant the resources are, a pessimistic estimate of a hundred years, an optimistic estimate of two or three hundred years, should be exhausted. In the world's oil-rich regions, it is not uncommon to see examples from the discovery of oil to the depletion of oil resources. Only when it was discovered that mining was discovered, it was destined that one day the resources would be dug up.

Xinchuang Electronics Group is different, relying more on human intelligence and production to continuously create benefits. Through innovation to discover new markets, and a large number of orders to the foundry, the foundry is also constantly improving efficiency.

In essence, the progress of human productivity is more dependent on the intellect than merely on the exploitation of the laborer's time. Technological progress and the efficiency of growth are countless times greater than pure exploitation.

In the case of simple exploitation and technological advancement, even if a person is asked to work for 24 hours, it may not be able to squeeze double the output.

But...... After technological progress, the production efficiency of human beings has increased by more than 10,000 times. Taking the textile industry as an example, the labor efficiency of the textile industry in the early days of the founding of the People's Republic of China has been equivalent to the efficiency of dozens of times that of the ancient textile technology, and the efficiency of the textile industry in the early days of reform and opening up has increased at least dozens of times compared with the beginning of the founding of the People's Republic of China. In the past 40 years of reform and opening up, the per capita efficiency of the textile industry has increased by more than 100 times compared with that at the beginning of the reform and opening up? In less than 100 years, the continuous injection of scientific and technological content has led to the output of a worker in the textile industry compared with the efficiency of a worker 100 years ago. The modern textile industry, which has improved the efficiency of 10,000 times, is still disliked that the per capita output value is too low, and continues to increase the per capita output value. The way to increase per capita output value is not simply to rely on management, overtime and the like, but more on technological innovation.

To put it simply, the repetitive labor of human machinery is as small as sand in the face of the exponential improvement of technological innovation. Creativity is the only way to create benefits and value in the long run. Labor without creativity and innovation is nothing more than repetitive mechanical busyness.

For example, at present, Pangu Computer Co., Ltd., Xinchuang Xin, Xinfei Electronic Technology, Phoenix Games, Xinchuang Communications, Palm Entertainment Games and other companies under the New Venture Electronics Group, which one does not rely on innovation and technology to drive the growth of performance?

"Judging from the business report of last year's subsidiary, the growth star should be Pangu Computer Co., Ltd. In terms of profit scale, it doubled last year, reaching a profit of 16.7 billion US dollars, and it is also because of the excellent subsidiaries such as Pangu Computer Co., Ltd., the profit growth rate has reached a new high, which has pushed up our overall profit growth. Lin Qi smiled and took the roll call.

In an instant, everyone on the line applauded, and Gao Tian couldn't help but show a smug smile.

"In addition, Hang Seng Bank is also very rare, creating a profit of 50 billion Hong Kong dollars last year, and the growth rate has also doubled. This is not an easy achievement, after all, traditional banking business, in fact, on a global scale, can not achieve such a growth rate. Hang Seng's growth rate, on the one hand, has laid out the Asian consumer market and added a large number of outlets. In addition, it is the Internet channel to expand the personal financial services business, creating a growth return that far exceeds that of the traditional business. In this regard, the new CEO of Hang Seng Bank, Mr. Lin Weizhong, has done quite well, taking into account the risk control experience of traditional banks, and embracing new Internet technologies, so that at present, Hang Seng Bank should be the world's banking industry, Internet technology is at the forefront of the bank. Lin Qi smiled, "Of course, the stock price of Hang Seng Bank last year was not easy, it grew against the trend, the stock prices of other companies fell last year, and Hang Seng Bank rose by 30%, and its market value exceeded the 400 billion mark." It is the leader of the Hong Kong stock market in turn, and it is currently either HSBC or Hang Seng, taking turns to sit in the bank. ”

"Thank you Mr. Lin and colleagues, at present, our Hang Seng management is not staring at the stock price, who is the largest listed company in Hong Kong by market capitalization, we look very lightly, after all, who is awesome, not as good as the new venture electronics group, not listed than the entire Hong Kong listed company market value combined. Lin Weizhong patted his ass and said, "In addition, the achievements of Hang Seng Bank are also inseparable from the Internet ecology and traffic tilt of the new entrepreneurship department." For example, Tesco has helped us a lot, last year, Yougou only gave our Yu'e Bao products to import deposit flow, so that Yu'e Bao's current cumulative deposit balance exceeded 30 billion Hong Kong dollars, a year on this deposit, regardless of the loan itself, on the Yu'e Bao money market fund itself, you can earn 0.6% of the management fee. Not to mention Huabei, at present, this business not only brings business growth, but also brings nearly 100 million yuan in handling fee profits. In the future, once the Internet is popularized to every household, Hang Seng Bank hopes to overtake with the help of the Internet and become the world's top bank. In short, we are not looking at the present, but on the future. The focus of the layout is not on traditional business, but on Internet business. ”

Hang Seng Bank's current market value has exceeded 400 billion Hong Kong dollars, and its market value is not much different from HSBC. In terms of deposit and loan scale, Hang Seng also has HK$1.2 trillion in deposits, and the loan scale also exceeds HK$1 trillion. In addition, the net profit exceeded HK$50 billion. It can be said that after Hang Seng Bank became a subsidiary of the new entrepreneurship department, the development speed far exceeded the original history.

Historically, Hang Seng has always grown faster than HSBC, but it is always impossible to surpass HSBC, because Hang Seng is a subsidiary of HSBC. No matter how fast it grows, most of the equity is HSBC's.

And now Hang Seng is gradually gaining momentum, mainly because the parent company has become a new venture electronics group. Under the transformation of Xinchuang Electronics Group, Hang Seng Bank has not only become a bank with leading technology and the earliest investment in the layout of the Internet banking system, but also changed from a traditional bank to an efficient Internet bank. Moreover, the new venture electronics group has kept its business working capital in Hang Seng Bank for a long time, and this cash is more than 100 billion Hong Kong dollars when it is small, and it will grow to more than 300 billion Hong Kong dollars when it is more than that.

Relying only on the deposit and fund settlement of the new venture electronics group, the growth rate of Hang Seng Bank is naturally faster than in history. Due to Lin Qi's contribution to China, Hang Seng Bank has become the first Hong Kong-funded bank to be able to open a national chain of outlets in China. Of course, out of the need for rankings, the saying of the five major banks has begun to become popular in China, and the five major banks of Henggong and China Agricultural Construction. With the economic growth of China, it is not a problem for the deposit and loan business of the four major banks to exceed that of Hang Seng Bank, especially in doing some large state-owned enterprises and state-level projects, the advantages of the four major banks far exceed those of Hang Seng.

However, Hang Seng is not without advantages, relying on the importance of the Internet, Hang Seng provides ordinary investors with more flexible Yu'e Bao deposit business than traditional money market funds by serving ordinary consumers, as well as providing Huabei loan business. Yu'e Bao business can charge 0.6% management fee, the larger the size of the deposit, the more management fee charged, of course, ordinary consumers actually get the benefits, the deposit not only has the flexibility of a demand deposit, but also has the same interest as a one-year time deposit. Huabei is a credit card-like business, similar to a credit card, and earns fees in both directions. First of all, consumers use Huabei to pay, even if consumers do not pay in installments, they do not need to pay additional handling fees in full in the next month's bill period, but the merchants who collect money in Huabei need to pay a 1% handling fee, simply put, even if the buyer does not pay interest at all, Huabei will not lose money. If consumers are temporarily short of money and choose to pay in installments, then the installment payment requires additional handling fees, and the merchants and consumers make money at both ends.

At present, based on the big data of Tesco.com, there is more information about users, and the computer automatic risk control is also more timely for risk discovery. All, the current loss of bad debts is relatively low.

As a financial enterprise, it is natural that you cannot do everything in everything, after all, the funds of any financial institution are limited. At present, in terms of Internet business, Hang Seng Bank basically focuses on the consumer finance of ordinary people, and has given up large customers. At the same time, although the interest rate of Hang Seng Internet banking is slightly higher than that of traditional bank loans, it is still not outrageous. Risk control and return on investment do not rely on usury. After all, Hang Seng Bank is prepared to go the right way, not to do crooked ways. Those crooked ways in the financial field are essentially not long-term, and only by truly formulating a financial industry with inclusiveness can the scale be developed.