Chapter 34: Moving Forward in Crisis
"You'll get used to it in the future, and there's a lot more we have to do." Chen Weidong looked at the harbor in the distance, and his thoughts didn't know where to drift.
...…
In 1997, new changes were taking place every day in the "infinity" companies, and the computer companies could be said to have changed the most.
Due to Chen Weidong's "laissez-faire", computer companies can no longer be described as wealthy.
Almost every day, new members join.
In just one year, Infinity has grown from nothing to the largest Internet company in Hong Kong.
The company's business has also expanded from instant messaging to games, music, novels, etc.
The number of employees has reached more than 700.
Looking at the whole of Southeast Asia, it is not necessarily impossible to be the first.
"Xiangjiang University", "Xiangjiang University of Science and Technology", "Xiangjiang University of Technology" ...... and a series of college graduates, all of whom are proud to have received offers from Infinity companies.
This is not to say that Infinity is very technically high-end, but because the salary it offers is simply too high.
Even interns who have just joined the company have a staggering monthly salary of 35,000 Hong Kong dollars.
As a result of the financial turmoil caused by Thailand, it began to sweep across the Asia-Pacific region.
Heung Kong has also been greatly affected, with many companies closing down, laying off employees, and cutting salaries.
In this period when everyone is in danger and afraid that they will be fired as soon as they wake up, it is very rare for the "Infinity" company to maintain its expansion.
The company's first few management, now the annual salary + bonus has reached a staggering more than 30 million, even if you buy a house in Central, it is not a problem, and it is even higher than the income of ordinary second-tier stars.
Some news media even jokingly called them "working emperors".
Of course, if you want to enter the management level, in addition to the corresponding ability, there are still some hard indicators.
For example, Hong Kong locals like to mix English and Cantonese when communicating with colleagues.
Although the company did not explicitly say that it was not allowed, it also privately stated that anyone must be able to speak Mandarin.
Otherwise, there is absolutely no chance of promotion.
In the words of the big boss, "Xiangjiang has returned, you can't even speak Mandarin, and you are not a Chinese." ”
Later, the company has developed, and you will be sent to the mainland, how to communicate with people?
Song Yunjiang implemented this very well, and the management also promoted many technicians from the mainland.
The company adopts a flexible work system, weekends and weekends, various subsidies, and leaders like to give bonuses from time to time, as if there is no place to spend too much money.
Even Li Xi'er complained many times that the treatment of the company next door was too good and she wanted to go to work there.
This is the status quo of the "infinity" company.
It is also because it is too humane, from time to time there will be relatives of individual local employees who have to come to the company to "inspect".
The company's management is required to arrange more work for employees, the reason is: working less than eight hours a day, too easy, which is not in line with the fine tradition of hard work of Xiangjiang people, young people just have to endure more hardships... And so on.
Some employees of the company were speechless when they heard this.
Fortunately, the company's senior management came forward and explained to them in a good voice, "We are a high-tech company, not a factory assembly line, it is all arranged from above, and we can't help it, and ......so on."
In this way, we can appease those grandmothers and old ladies who come to the company every day after eating morning tea and have nothing to do.
Similarly, because the salary offered by Infinity is far higher than the industry average, the company's vice premier, Song Yunjiang, was attacked on his way from work.
Fortunately, it was only some skin injuries and was discovered by passers-by in time, which saved the day.
However, after this incident, the company's senior management took it very seriously.
Immediately spent a huge amount of money to recruit several "veteran soldiers" in the security company, who were specifically responsible for the personal safety of the company's executives.
It took millions to upgrade the computer equipment of the local police station, which completely prevented similar things from happening.
July 1997.
The financial crisis in Thailand broke out because Southeast Asian countries have similar economic development models and similar economic lifelines.
After the fall of the Thai baht, the Philippine peso, the Indonesian rupiah, and the Malaysian ringgit have also become the targets of international speculators.
Soon after, the crisis spread to regions and countries such as Duwan, Heung Kong and South Korea.
In order to raise the cost of funds for international speculators, interest rates in many countries have risen sharply, causing extremely serious internal economic losses.
Businesses collapsed, bad bank debts soared, unemployment soared, and the financial turmoil in Southeast Asia turned into the Asian financial crisis.
October 1997.
Stay Bay Bank gave up defending the NT$ exchange rate, which depreciated by 6.5% in a single day.
The crisis spread to the Hong Kong stock market and foreign exchange market.
Rumors began to circulate in the market that Heung Kong might abandon defending the linked exchange rate system in order to remain competitive.
At the same time, some people in the business circles have also done a little bit of work, and have repeatedly made public remarks suggesting that the Hong Kong dollar should be devalued.
As a result, the media, which listened to the wind and rain, took the opportunity to make a big news, which led to a large-scale Hong Kong dollar sell-off.
From October 21 to 23, the Hong Kong dollar continued to experience significant selling pressure in markets such as Hong Kong, London and New York.
The Hang Seng Index also fell from 13,601.01 points to 10,426.3 points to close, plummeting 3,174 points in just four days.
On the 28th, the Hang Seng Index fell below the 9,000-point mark.
Countless shareholders lamented that October was simply the darkest month for the Xiangjiang stock market in decades.
"Mr. Chen, fortunately, you told us to withdraw all the funds in advance, otherwise we would have suffered a big loss."
Feng Yiwen, the trading director of Infinity, said with a happy face in the office at this time.
In a month, the stock market plummeted by 30%, and countless financial institutions in Central were trapped, only infinity was not affected in the slightest, and it has to be said that this is a miracle.
"This is just the first wave of tentative attacks on international funds." Chen Weidong frowned.
During this time, the Infinity Fund was almost stuck, following international travel funds in the Philippines, Malaysia, and Singapore....... Attack from many places.
International speculators can be said to have no bullets, every shot is missed, and whichever one is aimed, which one will fall.
And the baptism of this battle has also made the company's internal traders more and more skilled in dealing with international capital attacks.
From not being able to keep up with the operation at the beginning, to now being at ease.
Attacking again and again, the snowball of "infinity" is getting bigger and bigger.
So much so that now Chen Weidong glanced at the twelve-digit numbers on the account, and his heart was unwavering.
Unknowingly, on the road of fate, he has transformed from an eighteen-year-old immature boy to a big man who controls the fate of hundreds of people.
Now he walks around the company, and a look can silence employees for a long time.
It wasn't what he wanted, because he knew it well.
The majesty of the so-called superior is actually not due to identity!