Chapter 304: Total Sales 32.1 Million Units, Revenue 726.3 Billion! Yu

Xucheng, Zhuxianzhu Technology Park, Building 9, Room 8a3.

Chen Yansen sat at the head of the table, glanced at Zhang Yinjia, then said: "Begin."

Around the long conference table sat the core executives of Orange Pay: heads of online payment, offline payment, and commercial monetization, along with business directors from technology, operations, risk control, finance, legal, and customer service.

Most of them came from ZhiFuBao, PingAn, and commercial banks—either intimately familiar with financial industry operations or experts in internet product marketing methodologies.

"Zhou Mingxuan, you start." Zhang Yinjia nodded slightly, then signaled the vice president of Orange Pay to begin his report.

"Boss, Boss Zhang, regarding the Yu'e Bao product plan, I've coordinated with the fund company. The preliminary framework is a 'money market fund + payment consumption' model."

"Users can instantly convert their account balance into a money market fund to earn returns, and during payment or consumption, they can directly use their fund shares as payment."

Zhou Mingxuan set up the projector, opened a PowerPoint, and spoke slowly.

He held a master's degree in finance from HKU and had fifteen years of securities industry experience, having served as director and general manager at multiple fund organizations—a seasoned insider with both ability and connections.

He joined Orange Pay because he saw the growth potential of mobile payments, the substantial equity incentives, and the generous salary package.

"Orange Pay controls thirty million active users. If we embed a low-volatility, stable-yield money market fund into the product, we can boost user retention, account value, and Orange Pay's profitability."

Zhang Yinjia nodded in agreement, adding:

At this point, Ali had not yet targeted this segment—so whoever launches first owns Yu'e Bao!

"Are there any issues with technical integration, payment settlement, or regulatory compliance?" Chen Yansen asked.

"High-concurrency transactions are indeed a challenge. Traditional centralized data architecture struggles to handle traffic spikes in the tens of millions. The tech team proposes a distributed architecture, spreading data and computing power across multiple servers to enhance scalability and fault tolerance," replied Jiang Leiming, head of the technology department.

"We hold the 'Securities and Futures Business Operating License' and the 'Consumer Finance License,' but Yu'e Bao combines payment, fund sales, and money market fund services—touching multiple regulators including banks and the Fund Regulatory Association. There are no clear rules on whether this is permitted or illegal."

We hold both the "Securities and Futures Business License" and the "Consumer Finance License," but the Yu'ebao product integrates payment, fund sales, and money market funds—spanning multiple departments including banks and the Fund Regulatory Association—and there are no clear rules defining whether this is permissible or violates regulations.

If laws are unknown, their power is unpredictable!

The pioneer's task is to feel for stones across the river!

In his view, Yu'e Bao could certainly be done—but carried some compliance risk. It all depended on whether Chen Yansen dared to move forward.

"Also, to enable Yu'e Bao's payment function, the product must support real-time redemption. But most domestic fund companies still use T+1 settlement—clearly inadequate." Zhou Mingxuan continued.

Chen Yansen smiled faintly. He had repeatedly accepted investments from Huake, Huaxin, and China Merchants primarily to prepare for Yu'e Bao's launch.

"Tianfu Fund is willing to cooperate. They plan to roll out a T+0 redemption feature soon, using an advance-funding mechanism to enable real-time redemption."

Chen Yansen looked up at Zhou Mingxuan, speaking calmly.

"Understood, Boss. I'll handle the coordination." Zhou Mingxuan's eyes lit up; he immediately volunteered.

"Many things have no precedent—create them yourself. Within three days, I want the final feasibility report. Tech department assesses system capacity. Legal department immediately study the regulatory red lines."

Chen Yansen instructed the group, then paused and added: "Orange Pay isn't here to chase waves—it must become the wave itself."

Hearing this, Zhang Yinjia, Zhou Mingxuan, Jiang Leiming, and others couldn't hide their excitement. With licenses secured and the T+0 redemption hurdle cleared, all obstacles to Yu'e Bao's launch were gone.

With Orange Pay's user base and Senlian Capital's backing, Yu'e Bao's market potential was guaranteed!

As the company's valuation soared, their stock options would multiply in value.

The payment market was a huge cake—if you didn't take a bite, what was the point of being reborn?

Chen Yansen's expectations for Orange Pay were modest: just make it into the top three in the industry.

Next, each department reported on progress, performance reviews, product optimizations, market analysis, and competitive dynamics.

The meeting lasted an hour, ending just before four.

Chen Yansen glanced at his watch. The promised short meeting had turned into a long one.

After Zhang Yinjia and others left, Zhou Shouzhi, Wang Teng, Ye Qiuping, Zhang Cong, Zhou Ze, and Yan Peng entered the conference room one after another.

After Zhang Yinjia and the others left, Zhou Shouzhi, Wang Teng, Ye Qiuping, Zhang Cong, Zhou Ze, and Yan Peng entered the conference room one after another.

"Chief Chen!"

Dozens of greetings rang out in unison.

Chen Yansen nodded slightly and turned to Zhou Shouzhi, who had just sat down: "Old Zhou, lead the meeting. I'll just listen."

Zhang Cong, Zhou Ze, Wang Teng, Yan Peng exchanged glances—once again, their respect for Zhou Shouzhi rose several notches.

Everyone understood: though Zhou Shouzhi's title was CFO, he also held CEO-level authority.

The timing simply wasn't ripe yet.

Facing the down-to-earth nickname "Old Zhou," Zhou Shouzhi could only smile wryly and nodded to Yan Peng: "Old Yan, start with the annual data."

Faced with the down-to-earth nickname "Old Zhou," Zhou Shouzhi could only smile wryly and nod, turning to Yan Peng: "Old Yan, let's review the annual figures."

Chen Yansen blinked—he hadn't expected Zhou Shouzhi to adapt so quickly. Only a few days in, and he'd already given Yan Peng a nickname.

Yan Peng smiled awkwardly, connected the projector, and read in a low voice: "As of September 2nd, total Orange phone sales reached 32. million units: 27. million domestically, 4. million overseas. Total revenue: 66. 3 billion Huayuan. Hardware gross profit: 8. 2 billion. Software gross profit: 4. 7 billion. Combined: 12. 9 billion."

"Domestically, Orange phone sales are primarily online, with offline as secondary. Orange C1: 2. million units. Orange D1: 13. million. Orange C2: 5. million. Orange C3: 4. million. Qingcheng D1S: 1. million."

"Overseas, focus is on Abyssinia and Nigeria, plus select East and West African retail markets. Orange F1: 2. million. Orange F2 (revised C1): 800, 00. Orange F3 (revised C2): 300, 00. Lemon D1 (revised D1): 1. million."

In eight months, global sales hit 32. million units, revenue nearly 70 billion Huayuan. At annualized rates, Orange Tech's phone business alone would rank among the world's top 500. "What's the net profit?" Chen Yansen asked casually.

In eight months, global sales reached 32. million units, generating nearly 70 billion Huayuan in revenue; if calculated annually, Orange Tech's smartphone business alone would rank it among the Fortune 500. "What's the net profit margin?" Chen Yan asked casually.

In the past half-year, Orange Tech had poured over 4 billion Huayuan into R&D and over 10 billion to buy land and build its headquarters in Lucheng. With over 10 billion in gross profit, net margin after all costs was just 2. %.

Over the past eight months, Orange Tech poured over 4 billion Huayuan into R&D and bought land in Lucheng to build its headquarters, yet after deducting all costs, the 10-billion-Huayuan gross profit yielded only a 2. % net profit margin.

Compared to hundreds of billions in revenue, it was pitifully small.

Yet Orange Tech supported hundreds of thousands along its supply chain!

Domestic suppliers like Desai Battery and Jingdongdong relied entirely on Orange Tech to thrive.

For Chen Yansen, the tens of thousands of threads of human virtue generated monthly by Orange Tech and its phone factories mattered far more.

"Continue," Chen Yansen waved his hand.

With so many subsidiaries, profitability still came down to competition. The platform's GMV exceeded 200 billion, revenue hit 29 billion Huayuan, and after expenses, net profit remained around 20 billion—a true money printer.

Manufacturing required high investment and long payback cycles; its meager returns couldn't compare to e-commerce or gaming.

Why did Zhou Hongyi, Ma Liyun, Ding Lei, and others dare sell phones at zero profit?

All to capture the terminal market, seize the mobile internet gateway. Fortunately, they all failed—otherwise, domestic smartphones would've become advertising machines for internet giants.

Next, Yan Peng reported revenue and gross profit figures for Mos (Alexa) smart speakers, power banks, Bluetooth headphones, and phone accessories—totaling 72. 3 billion Huayuan.

"The Orange Smart Life Store via KuaiPao has launched. Sales are decent. Offline self-operated stores should mirror online offerings to boost brand recognition. Don't wait for Orange Pad 1 or Orange MagicBook—quickly build out offline sales, after-sales, and experience channels."

"Kuai Pao's Orange Smart Life Stores have launched, and sales are going well. The offline company-owned stores should align with the online channels to boost brand recognition—no need to wait for the Orange Pad 1 or Orange MagicBook to launch; first, rapidly establish offline sales, after-sales, and experience channels."

"No problem," Zhou Shouzhi replied with a confident smile.

He'd long planned Orange Tech's offline channel strategy: expand from first-tier to second- and third-tier cities, with company-owned stores as the core, supplemented by exclusive and authorized outlets—diverse formats covering malls, communities, and telecom shops.

The next presenter was Wang Teng, followed by Ye Qiuping, Zhang Cong, Zhou Ze, and others.

The meeting lasted until five. Golden sunset light stained the windows.

Chen Yansen didn't rest. After holding separate business and finance meetings with Huang Zheng and Liang Bo, he stepped out the door.

Night had fallen heavily; the evening wind blew sharp and restless, carrying the faint chill of early autumn.

Orange Tech, Pinbei Mall, Orange Pay, and Toutiao were all advancing steadily under his plan.

Last week, he received an invitation to the 11th Internet Conference. Official data showed China's internet user base had reached 540 million, a penetration rate of 42. %.

Mobile users exceeded one billion, with 360 million using smartphones. Clearly, the era of mobile internet was arriving.

This was why Ali, 360, NetEase, and Shanda were all rushing into phone manufacturing.

The main constraints on Toutiao, Lingxi Browser, and similar products were smartphone penetration, mobile network speed, and data pricing.

In Chen Yansen's view, 360 million smartphones was still too few.

"The Orange D1 and Qingcheng D1S strategies worked well—they forced Xiaomi, 360, OPPO, Huawei, Lenovo, and Coolpad to slash prices on mid- and low-end smartphones by hundreds. Too expensive? Users won't buy."

As he walked toward the cafeteria, Chen Yansen mused inwardly.

As Chen Yan walked toward the cafeteria, he pondered silently.

In Beijing, police inspectors from Tianjin, Changshan, Tangcheng, Anci, and other regions launched a coordinated operation at 10: 0 p. . on September 3rd.

They raided nineteen gray-market studios in one sweep, seizing assets worth 40 million, and fielded countless calls from "wool parties" being questioned.

Many were still dreaming of monthly incomes of a million when police burst in and dragged them from their beds.

That night, gray-market operators across North China were terrified—only when they realized inspectors targeted only "Didi Chuxing" wool studios did they breathe easier.

That night, gray-market operators in North China were terrified; only after learning that the police inspectors were targeting only "Didi Chuxing" wool workshops did they finally breathe a sigh of relief.

Hui Ge and his crew, who had fled to Annan, breathed a sigh of relief upon hearing the news. Had they been slower, they'd be in prison now.

"Hui Ge, what do we do?" Yaozi asked, panicked.

"Relax. The inspectors won't find us. If the little cow's gone, we'll find a big golden cow. I don't believe we can't find a loophole in Didi's system!"

"Don't worry—the Police Inspectors won't come after us. If the little cow's gone, we'll find a golden cow. I refuse to believe we can't find a loophole in Didi Chuxing's system!"

Gray-market operators were like leeks—cut one, another grew. Though the little cow's software was cracked and some customers arrested, plenty still wanted to get rich quick. Buyers would never run out.

The only problem: they needed to develop a new software fast.

"Hui Ge, we've got plenty of tech talent here in Annan. Let's hire tomorrow," said A Zhen, standing nearby.

"Alright, handle it," Hui Ge grunted.

Didi Chuxing was a fat sheep—generating millions monthly. No one would let go!

Didi Chuxing, this fat sheep, generates millions in monthly income for us—no one is willing to let go!

(End of chapter)