My fintech empire.

Chapter 1270 [MIX Listing]

Hearing what Fang Hong said, Qin Feng thought for a moment and then said, "So you're giving up the subcontinental market? I think we can do this as a compromise. We can do business there, but forget about setting up a factory there. We can produce domestically and export and sell them there, and then find a local agent. The less profit, the better."

Hearing this, Fang Hong couldn't help but smile and said, "This method is not bad, but it needs to add a few more details. The payment must be made before the goods arrive, and the payment must be made immediately. No credit is allowed. In short, no real estate or heavy assets can be left in Ah San's hands, including accounts receivable."

Qin Feng also nodded immediately to show his approval. This is obviously to take the light asset route, not to invest too much sunk costs in the subcontinent, and not to own fixed assets above a certain scale in the local area, especially no heavy assets, otherwise when the third brother turns against you, you can only curse and stare in the street.

To put it bluntly, it means we are only doing a one-time deal with them. If the cooperation is pleasant, we can continue it. If it is not pleasant, we can just clap our hands and part ways amicably. Xingyu Technology will not suffer any sunk cost losses.

Even the after-sales service center will not be set up locally. Instead, the goods will be sent domestically by express delivery, and they will have to bear the costs.

If the third brother can't accept it, then we won't do this business.

Xingyu Technology will not gain any weight by taking over this market, nor will it lose any meat by losing this market, because according to Fang Hong’s strategy of going global, the brand must never lower its own value.

People are sometimes very strange. The more expensive you sell something to them, the more they think it’s great.

I can afford this price, but you can't. So I can show off and act superior in front of you. On the contrary, if it is something that anyone can use, he won't feel the need to use it, because he can't show off and act superior even if he buys it.

There are people like this everywhere in the world, and they are willing to pay for it.

Therefore, Fang Hong’s strategy for Xingyu Technology to go global is not to lower its own value overseas, but to create a sufficiently high brand premium.

It is human nature to admire the strong. If you lower your own standards and put yourself in a lower position from the start, how can you tell stories, history, culture, and heritage in a way that convinces people and makes them pay for it?

And selling at a higher price abroad has another foreseeable benefit.

That is, it will win further support and love from the domestic consumer base, as well as further recognition.

Because when they find that foreigners have to spend a lot more money to buy products like Xingyu Technology, this will make domestic consumers intuitively feel that Xingyu Technology prefers domestic customers more.

Everyone likes to be favored; this is human nature.

There is no doubt that it will further stimulate sales in the mainland market and will provide more support to Xingyu Technology. The overall performance will only be greater in absolute terms compared to overseas revenue.

As for the cross-border smuggling of products that may be caused by the large price gap between domestic and foreign markets, that is even less of a problem.

In fact, quite the contrary, Fang Hong actually hopes that someone will do this. The more volume sold, the more Xingyu Technology will earn. As for the middlemen earning part of the profit difference, it doesn't matter at all and it is what they deserve.

They are indirectly helping you to sell your products and expand the market. Many jobs that can be done on the surface, and even some jobs that cannot be done on the surface, are also done indirectly for you. What else do you want?

Besides, Xingyu Technology will inevitably make the profit it deserves.

……

After meeting and talking with Qin Feng for more than an hour, Fang Hong explained the strategic matters of going overseas and then left.

Going global is inevitable. You can’t just stay at home forever. In the end, everyone will be a loser and no one will be a winner. So you have to go global. Fang Hong estimates that it will take three to five years at the shortest and seven to eight years at the longest to see an explosion in the overseas market.

But the prerequisite for an explosion in a few years is that we must start planning and laying out now, so that we can accumulate strength for future development.

In the next few days, Fang Hong met and talked with the heads of the core enterprises under the Qunxing Group one by one, and began to plan the strategy of going global, including Jiuzhou Blue Arrow, Jiutianxing Network and other enterprises.

It is about to be ten years since Qunxing Capital was founded. In the past ten years, it has basically focused on operating in the Greater China market. In the next ten years, the strategic position of overseas markets will be gradually enhanced. By then, the world will see that Qunxing Capital will become more and more active in the international market.

……

Thursday, June 5.

Around 8:50 in the morning, the square at the main entrance of one of the four flagship stores of Xingyu Technology, located in the new city center, was crowded with people. People lined up in a zigzag shape, waiting for the flagship store to open for business.

Today is the official release day of the first MIX terminal headset device launched by Xingyu Technology. The people queuing are all here for MIX. The group of people at the front of the line had already reserved a spot here ten days ago, otherwise they would not be able to get to the front of the line.

Just across the street from the flagship store, there was a seemingly ordinary but actually modified car parked in a parking space on the side of the road, and the person sitting inside was Fang Hong.

He stayed in the car and did not come out, just looking outside through the window. If he came out, he would definitely attract a crowd of onlookers.

"The last time such a grand occasion occurred was three years ago..." Fang Hong was obviously quite satisfied when he saw this situation. Xingyu Technology is the absolute flagship of Qunxing Star and one of the most core pieces of the huge business empire of this Qunxing Star. The development of the company is also something Fang Hong attaches great importance to.

Fang Hong is not the only one who has such feelings. Many colleagues in the industry, including some die-hard fans of Xingyu Technology, also have such feelings.

As the time approached 9 o'clock, Xingyu Technology's four offline flagship stores including many directly-operated stores officially opened for business at almost this time, and the first group of consumers in the line quickly entered the store.

There were also staff on site to maintain order, after all, there were thousands of people queuing.

"Let's go, go back."

Fang Hong looked for a while and then told the driver that there was nothing to see and he could not get off the car to go to the store to take a look.

Judging from the grand occasion on site, the first generation of MIX will definitely become the first phenomenal product in the field of head-mounted display terminal devices. Whether in terms of content ecology or hardware technology level, it is a huge lead compared to similar competing products of the same period, and its annual sales volume can reach tens of millions.

After a while, the two cars parked in front drove away first, and the car Fang Hong was in followed closely behind. Several cars also followed behind. Six or seven cars drove into the middle of the lane one after another and drove away.

……

(End of this chapter)