Chapter 207 - 206 Brushing Teeth and Washing Face (1/3)
After reading the development history of the Shangdong Group, Yang Chen understood everything.
It could be said that Wei Qingzhong and Liu Chengpeng started the business together, but the Shangdong Group was single-handedly founded by Wei Qingzhong.
During the period when Wei Qingzhong established the Shangdong Group, Liu Chengpeng left and returned to the company three times.
When they first started the business, Liu Chengpeng couldn’t handle the pressure, which was one of the times.
To prevent Liu Chengpeng from suffering losses, Wei Qingzhong borrowed money to buy 50% of Liu Chengpeng’s shares at a premium. At that time, they were just a small sales company specializing in selling telephones.
Liu Chengpeng didn’t suffer a loss at that time because even if they valued the company, it could only be calculated based on liabilities and wasn’t worth much. Besides, Wei Qingzhong bought it at a premium, which was what Liu Chengpeng needed at the time.
The second time was when the company started to show promise, and Wei Qingzhong hired Liu Chengpeng back as the deputy general manager, and they managed the company together.
But after working for a while, Liu Chengpeng resigned again.
The reason for this is hard to guess, but the third time it’s more obvious.
The third time, the Shangdong Group was officially established, began recruiting shareholders, raised funds, and divided shares. Wei Qingzhong once again invited Liu Chengpeng into the company and gave Liu Chengpeng 11% of the shares for free.
Those 11% of shares were worth tens of millions at the time!