Chu Qiuyan stood up to explain, "Everyone, please don't be anxious, this is our boss, and he will definitely provide a satisfactory answer to everyone."
Chen Pingsheng signaled for them to sit down and said, "Rest assured, it's our fault, and we will take full responsibility."
"In situations like this, if more than one Bobo Milk Tea appears within two kiloters, we will provide a full refund as well as compensate for the ti you've lost because of this."
"A full refund? How do you plan to refund it?"
"Imdiately."
Chen Pingsheng instructed the finance departnt, "As long as it's confird to be our problem, compensate each individual store with a standard of four hundred thousand, and additionally, according to a standard monthly inco of eight thousand per capita, make up for the ti you've lost."
"Are you sure?" the mother looked at him skeptically.
It seed she hadn't expected things to go so smoothly.
Moreover, they were already satisfied just to get their money back, never having thought they'd be compensated for their wages as well.
"Once our boss has made a promise, it's as solid as gold," Qiuyan assured.
Chu Qiuyan told him that the reason Yang Qian couldn't handle it in ti was mainly due to the company not having enough funds available.
Furthermore, she simply couldn't decide on her own when it ca to such a large amount of refunds.
Chen Pingsheng believed the more critical issue was the influence of her previous work at Zhengfu.
In such a position, as long as people's grievances weren't widely known,
they'd usually be answered within a certain number of working days.
Facing so many people showing up at once, her instinct was to delay for so ti.
Only after discussing with everyone would she take action.
Lacking funds was an easy fix; he could transfer a few hundred million over at any ti.
It didn't even require that much, thirty million was more than enough.
But such an action ant Yang Qian was no longer suitable to serve as the Chief CEO of Bobo Milk Tea.
A public explanation was owed, both to the people and to the shareholders in Xiangjiang.
The stock price falling below its initial public offering price as the market opened was just terrible.
Chen Pingsheng imdiately cashed out all Vanke Shares in his hands and also announced that he would additionally take on the role of president for this venture.
Yang Qian's departure wasn't unjust; her managent indeed had major problems.
Now, she had essentially beco the scapegoat.
However, she could first help out at Antler Coffee.
Her experience was more than sufficient for that role; it just wasn't suitable for dealing with adversities.
Especially in situations where she didn't know who was targeting her.
...
Chen Pingsheng was decisive and quick in handling matters.
He disbursed bonuses to employees quickly, and assud corporate responsibility even more quickly.
After drawing 50 million from Tengying, he imdiately initiated an investigation.
As soon as it was confird that poor managent due to his own responsibility led to losses,
he refunded the money without delay.
However, after he started issuing refunds, more franchisees seeking refunds appeared one after another.
The main issue was still the poor location of their stores, which led to losses.
In selecting store locations, Bobo Milk Tea's headquarters had detailed standard data.
If it didn't et the standards, opening the store was absolutely not allowed.
Clearly, in the process of rapid growth, the corporate standards had been lowered to their minimum level.
Problems were everywhere.
This perhaps was the reason Chu Qiuyan had hesitated before.
Chen Pingsheng decisively took responsibility, preferring to pay out of his pocket rather than letting those who believed in his company bear the losses.
While he issued refunds quickly, the stock price of Bobo Milk Tea in Xiangjiang plumted disastrously.
In less than a week, the stock price had halved.
When it was listed, Bobo Milk Tea was valued at three billion.
Just less than a week after listing, it had fallen to around 1.6 billion.
The primary issue was that the more he refunded, the larger the financial losses appeared on the books.
As soon as it went public, it suffered such huge losses, who would still want to buy in?
Chen Pingsheng spent a hundred million to resolve the franchise complaints of Bobo Milk Tea.
His own shareholding in the company therefore rose from the original 9% up to 13%.
In such circumstances, he, the founder, was still willing to increase his stake by 4% at a market value of 2.5 billion.
That also gave the other shareholders quite a bit of confidence.
Beyond that, Chen Pingsheng took the 380 million from the Vanke cash-out and decisively used it for a buyback plan in the Xiangjiang stock market.
At the sa ti, under the na of Tenghui Capital, it was announced that the original founder of Bobo Milk Tea took 380 million for a stock buyback.
You should know that at this ti, Bobo Milk Tea's issue price had already dropped to 3.5 per share.
The entire market value was less than 1.5 billion.
He alone used nearly four hundred million for bottom-fishing buyback, which ant he could sweep up half of Bobo Milk Tea's shares on the market.
No matter how much others sold, he could sweep them all up.
Tenghui was ready to throw in four hundred million into Bobo Milk Tea when investors had completely lost faith in it.
Whatever the reason, this act gave the market a strong sense of confidence.
This is the arrogance of having enough cash; without the ability to put forth so much money at once,
the company would probably have been sued by shareholders into delisting.
Fortunately, after weathering the storm, the share price finally stabilized at five yuan.
As a result, he made a substantial profit.
At the very least, he had earned back that one hundred million he had lost.
Keep in mind he bought back shares at 3.5, and now the price had risen to five.
One way or another, he had made almost one-third in profit.
Stock markets are like this, filled with thrills and excitent, heart-stopping at every turn.
Fortunately, he had gradually stabilized the situation, and he was still carrying out buybacks on the Xiangjiang side.
He was striving to push Bobo Milk Tea's share price back up to the issue price of seven yuan.
Once he had finally stabilized things on his end, he was ready to start adjusting Bobo Milk Tea's business plan.
But it was at this ti that Tong Zelan ca to find him.
She had already cashed out of Bobo Milk Tea earlier, retaining only a 12% stake. With the share price falling as it had, the remaining shares were basically worthless.
There was simply no waiting for the day they would recover.
Thankfully, Chen Pingsheng re-entered the fray and swiftly stabilized the share price again.
That finally stopped the plumting.
This was why she liked to work with him; the guy was very responsible in his actions.
The key point was that he had a lot of money; in a real crisis, he alone could support half the sky.
He was worlds apart from the likes of the rich kid Wang Yanfeng.
At least with Bobo Milk Tea's share price, as long as he was willing to step in, he could stabilize it in minutes.
It was just a matter of wrapping up a bit more money.
The reality proved that he was indeed rich.
He imdiately ca up with nearly five hundred million in cash, which she would find quite difficult to gather at once.
Of course, her own share had also decreased a bit, diluted.
The main thing was that Chen Pingsheng had taken out a hundred million to genuinely address the complaints from Bobo Milk Tea's franchisees.
That hundred million was not taken for nothing; it was due to the dilution of their shares to him — otherwise, they would have had to pay up.
With the stock price having fallen so miserably, who would be willing to pay?
Tong Zelan was experienced and well-inford; in franchise operations, there was never a guarantee of 100% profit.
Complaints were naturally nurous.
Just not so concentrated.
It was clear that soone was targeting them.
If soone was causing her to lose inco, she naturally couldn't just sit back and do nothing.
She imdiately investigated and found out the results.
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