Free Web NovelChapter 154: Chapter 154: Little Red Car’s Monthly Summary Meeting
「September 25, 2014. Thursday. Sunny.」
After answering the roll call in his Si Xiu class, Wu Yun took advantage of the break between periods to slip out the back door under the gazes of many female students.
Wu Yun had originally planned to skip class entirely, but considering the prep time needed for the company’s summary meeting, the first monthly review was scheduled for 9:30 AM.
So, as a show of respect for the Si Xiu teacher’s authority in taking attendance, he stuck around for one period before driving off in his Big Black Bull under everyone’s watchful eyes, disappearing from his classmates’ sight.
"Boss, you’re already skipping class?!" Li Shiming was still in disbelief.
He knew college wasn’t as strict as high school, but the authority of teachers had been ingrained in him since childhood. The mere thought of skipping class brought to mind the teacher’s cane and the punishment of his parents pulling his ear.
Liu Yongheng was also eager to try it, but since he had nothing to do if he skipped, he just picked up his phone and started looking up cars again.
Wu Yun drove into the technology park. It was already 9:20, past the morning rush hour.
He took the elevator and soon arrived at the company office.
The receptionist was already used to the chairman’s flexible work schedule, as everyone knew Wu Yun was still a student.
He might show up at any time if he didn’t have class.
As a result, some busybody had secretly gotten a hold of Wu Yun’s class schedule and was circulating it among a small group of people.
Wu Yun headed straight for the conference room and pushed the door open.
Seeing the conference room was full, Wu Yun smiled and joked, "Whew, good! It’s still a few minutes before 9:30! Otherwise, President Li would be complaining about me, the chairman, setting a bad example by being late!"
Li Qiuliang was a bit speechless. He had made one little joke when Wu Yun was late once, and now Wu Yun constantly used it to tease him.
"President Wu! Don’t say that! Even if you were late, I can’t dock your pay!" This was because Wu Yun didn’t draw a salary at all.
Li Qiuliang’s words made many people in the room burst out laughing.
’I wonder if I should follow the example of that future entrepreneur and take a symbolic one-yuan salary.’
After Wu Yun took his seat at the head of the table, Li Qiuliang cleared his throat and said, "Alright, alright! Let’s get started with our first monthly summary meeting!"
With that, he nodded to Li Yan, the administrative supervisor standing by the presenter’s podium, signaling for the meeting to begin.
"Good morning, leaders and colleagues! Welcome to Little Red Car’s first monthly summary meeting."
Li Yan only displayed the cover slide of the PowerPoint, allowing an administrative staff member to take a photo.
She then began introducing the day’s agenda without a script.
"First, let me introduce today’s attendees. We have President Wu, President Li, all the mid-level and senior management from the head office, as well as the general managers and mid-level and senior management from our branch offices."
As she spoke, she brought up several split screens on the main display, showing that the branch offices in several major cities were participating via video conference.
Of course, a private company doesn’t care as much about formalities as a state-owned enterprise. Efficiency and profit are far more important.
If this weren’t the very first monthly summary meeting, they probably would have skipped the introductions and gone straight to the main topic.
"This meeting will be divided into three parts. First, our achievements since Little Red Car’s launch."
As Li Yan spoke, the PowerPoint on the large screen switched to the table of contents.
"Second, an analysis of the problems we’re facing."
"And third, a discussion on future development strategies and compiled suggestions."
The PowerPoint slide changed, moving into the first segment.
"Little Red Car officially launched on August 21, 2014. As of 6:00 PM on September 24, 2014, our company has deployed a total of 800,000 shared bikes across five cities, including the Capital City. The following is a bar chart showing the number of bikes in each city."
The chart clearly showed three tiers. Rongcheng had the most with 260,000 bikes. The Capital City and Modu were in the second tier with 160,000 each. The remaining cities, Guangzhou and Peng City, had only 110,000 each.
"As of 6:00 PM yesterday, after compiling statistics from the head office and verifying data reported by the branch offices, our company’s registered users have surpassed ten million, reaching a total of 10.23 million."
Next was another chart showing user statistics. Due to its special circumstances, Rongcheng remained at the top of the list.
After reviewing the user statistics, Li Yan moved on to present the total amount of deposits collected and the percentage of users who had paid them.
Perhaps because of Little Yellow Car, the Capital City had the lowest deposit payment rate, at only 95%.
Overall, Little Red Car’s deposit payment rate was around 97.5%.
Even so, Little Red Car had collected nearly 3 billion yuan in deposits. After deducting payments to the bicycle factories, Little Red Car still had over 2 billion yuan in cash sitting in its ICBC account.
This made Luo Guangrong both happy and worried. He was afraid that Little Red Car would transfer this massive amount of deposits away.
That’s why he called to invite Wu Yun and the others to dinner every couple of days.
Unable to refuse Luo Guangrong, Wu Yun and Li Qiuliang finally agreed to attend the dinner tonight.
"Next is our company’s revenue analysis, which is divided into two main categories: first, rental income from rides, and second, income from deposit interest and short-term investments."
"As of last night, our company has earned 48.6 million yuan in rental income from rides."
As soon as Li Yan finished speaking, some people in the room who didn’t know the figures gasped in shock.
The company had generated such high earnings just two months after its founding. If they deployed more bikes in the future, the revenue would be even higher!
Many faces lit up with joy. As founding members, they knew that as the company grew, there would definitely be room for them to be promoted.
’If I had the Mind Reading Technique, I’d be laughing at them for getting ahead of themselves. Leaving aside bike damage and depreciation, this rental income will barely cover operating costs. Everything else will be used to plug the financial hole created by misappropriating deposits and replacing bikes. As the number of bikes increases, this hole will certainly grow larger, though it will remain within a controllable range. Of course, once the market becomes saturated, the hole will eventually be filled. But I won’t be around to see that. By then, I will have already sold Little Red Car for a good price.’
Wu Yun looked at the excited expressions on his subordinates’ faces while thinking about Little Yellow Car. ’Once Little Yellow Car completes its Series A funding, that’s when Little Red Car will really take off.’
"The estimated income from the company’s deposits in the bank is around 4 to 5 million yuan."
...
"Because the bikes have only been deployed for a short time, the attrition rate is only about 0.2%, and even those can be repaired, have parts replaced, and be put back into service."
Li Yan took a sip of water, quietly observing the hushed discussions and excited expressions below. Then she pressed the microphone button and continued, "Although our company was only founded two months ago, and Little Red Car has only been online for one month, we are still operating at a loss. However, looking at our growth trajectory, four words sum it up—the future is bright!"
"Alright! Now for the second key point: an analysis of the problems our company is currently facing."
