The Sweetness of the Seventies
Chapter 1000 - 969: Investment Project

Chapter 1000: Chapter 969: Investment Project

Moreover, he had already given up his secure job, effectively burning his bridges in order to pursue entrepreneurship and build a career.

They possessed such courage partly because Wu Youliang had indeed developed some promising products and partly because they had wealthy good friends like He Tiantian and Huo Yingjie, who could provide significant financial support.

After listening, He Tiantian nodded and said, "One of you is in charge of management, and the other is responsible for technology. You’ve also invested six hundred thousand, taking a fifty-one percent stake, which is very reasonable. Are there other investors? If not, I’ll cover the entire amount; if there are, I’ll take a smaller share."

"Cui Ying said she can put in three hundred thousand, and Qin Li can put in two hundred thousand. We need to see how much you’re going to invest before we can allocate the shares," said Wu Youliang, looking towards Huo Yingjie and He Tiantian.

Upon hearing this, Huo Yingjie smiled and replied, "That leaves a nine hundred thousand gap. How about this: I’ll contribute an electric water heater, along with nine hundred thousand, for a thirty-five percent stake. I won’t be involved in the day-to-day operations but will send an accountant over."

"Electric water heater?" Wu Youliang exclaimed excitedly, "Do you know how to make that?"

"Yes, I do," answered Huo Yingjie, "I’ll send you the blueprints in a while; you can try and you’ll see. As you know, in the city, some places can’t install solar energy due to certain constraints, so it’s more convenient and cost-effective to install electric water heaters in bathrooms."

"I was thinking of starting with solar energy and developing electric water heaters once we scaled up," Wu Youliang said, "In that case, is our investment not a little low?"

Huo Yingjie smiled and replied, "It’s not low. Currently, many factories are not operating, so you can directly purchase a factory, then use it as collateral for loans to buy equipment. As long as the product is of high quality and looks good, combined with the right advertising, we won’t lack business. Once we start making money, we can reinvest and expand production."

"Alright, let’s do it that way," said Wu Youliang, his spirits lifted and full of hope for the future.

That night, back at home, He Tiantian asked, "Is that electric water heater based on some patents you came up with last year?"

"Yes!" Huo Yingjie answered, "They are already available overseas. We can bring over a few units directly, file our own patents, and with the blueprints, we can quickly manufacture and sell the finished product."

"I hope it goes well," Tiantian said with a nod, "Now everyone has their own business and income is increasing. When fall comes, I want to donate more things to the orphanage."

"Good," Huo Yingjie said with a smile, "When poor, one only has the means to help oneself; when wealthy, one should help the world. Since we have money, we should help those in need and accumulate blessings for our family."

"Yeah!" Seeing her husband’s agreement, He Tiantian was very pleased.

She’d found two investment opportunities just by going out.

He Tiantian only invested money and did not participate in management, which made things much easier for her.

Money, for her, was no longer an issue; she didn’t have the energy to manage things herself. Collaborating with other trusted individuals was the best approach.

When her father-in-law had time, He Tiantian discussed Wu Youliang’s venture with Huo Zhekun.

"Dad, although it’s a private enterprise, it has its own two product patents. If it develops well, it will be a domestically developed product, not just technology imported from abroad. In some respects, we are not inferior," He Tiantian said as she showed Wu Youliang and Huo Yingjie’s prepared materials to Huo Zhekun.

Taking the documents, Huo Zhekun examined them carefully and commented, "Not bad, there are indeed patents. We attract foreign capital to learn from their advanced management and technology. Since domestic potential exists, we should support it; such support is essential for the real development of our national industry."

As Huo Yingjie sipped his tea nearby, he agreed, "Dad, you’re right. We’re not mentioning this to get special treatment for Wu Youliang’s company, but rather to suggest that in attracting foreign investment, the development of local industry must not be neglected. It will take a long time to assimilate foreign technology into our own, but if we have our own technology, we need to actively develop it and offer favorable policies for high-tech industries. We can’t just focus on offering policies to foreign investors while neglecting domestic private enterprises. Ultimately, the development of a nation’s industry must be in the hands of our own people."

Those who are not of our kind have different hearts.

Huo Zhekun took these words seriously and realized he had indeed overlooked these matters previously. He needed to think carefully about how to encourage the development of private enterprises.

"Indeed, I’ll take note," Huo Zhekun nodded, "By the way, Yingjie, with the development of foreign investment and private economies, there is an impact on state-owned enterprises (SOEs) and collective enterprises, and this impact is growing. Many SOE leaders have come to the government to report their concerns, and it’s troubling me a lot!"

Hearing this, Huo Yingjie chuckled and said, "In the past planned economy, everyone produced based on the targets set by superiors, not for profit. No matter how much or how well you worked, the salary was the same, which is why many factories were reluctant to update their production technology, improve management, and enhance service attitudes. Now the market has opened up, gradually allowing different economic forms to coexist. SOEs are still stuck in their old ways, unable to compete technologically with foreign firms, and not as agile or proactive as private companies. They keep relying on government support and resting on laurels. If this continues, one day nobody will want the products they make."

Huo Zhekun’s expression changed drastically upon hearing this; he knew his son never spoke in vain and was particularly discerning in his political predictions.

"Yingjie, our country’s SOEs occupy vital sectors and industries and are a major source of fiscal revenue. If SOEs lack competitiveness, it directly affects local fiscal income, with significant repercussions," Huo Zhekun said gravely, "The rigid management and outdated technology of SOEs are indeed very serious problems. If not addressed, it could indeed bring a great disaster to the country."

"Yes, so we must formulate related policies, change the management philosophy, actively take the market, and ensure that the products fit the needs of the people, not just meet targets. And the scientific and technological research in schools should also meet market demands and become real productive forces, not just papers copied from the lab and filed away," Huo Yingjie continued, "Some outdated military technologies can be converted for civil use, which would enhance civilian production technology."

Huo Yingjie’s Huaxia Rare Materials Research Institute conducted research specifically tailored to government agency requirements, avoiding wasteful studies, saving costs, and maximizing use.