Volume 1 Chapter 127 - Power of the Frestech Chamber of Commerce
Volume 1 Chapter 127 Power of the Frestech Chamber of Commerce
Although no one would run in front of Xu Yi to question if he had the qualifications to be here, there were quite a few people that came forward with questioning tones.
Xu Yi hadn’t been at the banquet long when the Amrit Chamber of Commerce’s chairman Moon Cruise came forward with a smile and a glass of wine.
“Chairman Xu, usually when we invite you to banquets, you always say that you’re too busy to come. Why is it that when the Lord City Lord invites you, you immediately appear?”
Since the exclusive supply agreement in terms of cement with Xu Yi and after experimenting with the cement quite a few times, confirming the wonderful effect of this thing, which far surpassed anything the Amrit Chamber of Commerce used before, chairman Cruise would always have a smile when he saw Xu Yi. It was no longer filled with disdain and suspicion like before when the Frestech Chamber of Commerce had just joined the Business Union.
Xu Yii raised the cup of wine with a smile to clink it with his glass, “Chairman Cruise, that’s unfair to me. You have to know that I even rejected the Lord City Lord’s invitations before this, it wasn’t just you guys. There’s no other choice there were too many things to handle with our company. I haven’t even had time to sleep since I’ve been too busy with work. For me to participate in this banquet, I had to do everything I could.”
“It’s a good thing to be busy with work. The things of your Frestech Chamber of Commerce has always been popular, so of course you as the chairman will be busy.” Chairman Cruise laughed before suddenly moving closer and asking in a low voice, “Chairman Xu, give me some facts, how many units of that Magic Lamp have you sold?”
Xu Yi revealed a faint smile and raised a hand.
“Five thousand? No, it can’t be that little. Then…..fifty thousand units?” Seeing Xu Yi nod, chaiman Cruise gasped as his face filled with shock, “Isn’t this just half a month? You actually sold that many already? Chairman Xu, you…..could it be that your Frestech Chamber of Commerce has used charm magic on everyone in Banta City? Making it so that everyone will buy your stuff?”
Xu Yi couldn’t help smiling. Although he didn’t use charm magic, with the various products that the Frestech Chamber of Commerce has released and with the Frestech Chamber of Commerce’s various advertisements and reports in «Banta Times», the people of Banta City had a high approval of the Frestech Chamber of Commerce and the Frestech Brand. No matter what product the Frestech Chamber of Commerce comes out with, it would attract overall attention.
For the Magic Lamp this time, because the two genius designers Agnes and Vivian worked together, just the design alone of the Magic Lamp was enough to attract everyone’s attention. Adding in the influence of the Frestech Chamber of Commerce, it created this kind of terrifying sales numbers.
“Chairman Cruise, if I knew this kind of powerful magic, why would I open a company? I would just charm people and make them obediently give me the gold coins in their pockets, alright” Xu Yi said in a teasing voice, “For it to sell that well, of course it’s because our Frestech Chamber of Commerce’s product is good enough. Like the cement, do you not like it?”
Hearing Xu Yi mention the cement, chairman Cruise nervously looked around. He took a few looks at Xu Yi before saying in a low voice, “Chairman Xu, I ask you to keep this a secret for now.”
Xu Yi nodded with a faint smile.
In business, being able to have an advantage would play an important use.
Now that the Amrit Chamber of Commerce had obtained the exclusive rights to cement from the Frestech Chamber of Commerce, it meant that they had an advantage over other companies in terms of materials. This meant that the Amrit Chamber of Commerce would be able to grow quite a bit in the future.
Chairman Cruise naturally wished that Xu Yi wouldn’t reveal this secret, to avoid affecting his and the Amrit Chamber of Commerce’s plan.
Seeing that Xu Yi closed his mouth, chairman Cruise gave two dry laughs before saying, “Chairman Xu, let’s talk about the previous topic. Why did you have time today to participate in this banquet? I really am curious.”
Xu Yi looked at him, “What? Do you think that I’m not qualified to come to this auction?”
“How could that be?” Chairman Cruise shook his head, but he still paused before saying in a tactful voice, “Only hasn’t your company been developing in magic machines the entire time? Why are you suddenly interested in iron mines?”
“Your Amrit Chamber of Commerce specializes in construction, so why are you here?” Xu Yi asked back.
“Hei, it takes quite a bit of iron in construction sites. Not to mention that thing you mentioned before…..” Chairman Cruise lowered his voice again, “That reinforced concrete also consumes quite a bit of iron. If I can get an iron mine, it’s better than buying it from other people. I think chairman Xu should be very clear that that fellow Fuller Morgan has quite the black heart.”
Xu Yi spread his hands, “Then do you think that the magic machines our Frestech Chamber of Commerce produces needs quite a bit of iron ores?”
Chairman Cruise looked at Xu Yi for a while before slightly knitting his brows, “Then that means chairman Xu really has intentions for those two iron mines?”
“Of course, otherwise why would I be here?” Xu Yi answered naturally before pointing at the hall filled with people, “This is a rare public auction for an iron mine by the royal family, not only are there companies from our Banta City, even large companies from other cities are here. I think that if his majesty allowed it, companies from other countries would also be here. In the end, the use of iron ores is just too widespread and who would let go of the chance to own two iron mines?”
Chairman Cruise looked around the hall filled with people chatting with each other before giving a nod, “Indeed, this is a rare chance, who would want to let it go?” After saying this, he turned to Xu Yi and hesitantly asked, “But chairman Xu, based on the news I’ve heard from the Lord City Lord, the starting price of these two iron mines is five hundred thousand gold coins for one mine…..”
Simply put, he was doubting Xu Yi’s finances.
Xu yi smiled. Even though chairman Cruise hesitated for a while, he finally couldn’t stop himself from asking this. He said in a relaxed voice, “Un, I’ve also heard this. This starting price can be considered quite low, but I think with how many people are eyeing it, the price in the end should far surpass this.”
Chairman Cruise observed Xu Yi. After seeing that his face didn’t even change after hearing the shocking number of five hundred thousand gold coins, his heart couldn’t help filling with doubt.
The Frestech Chamber of Commerce was only in Banta City and they sold things under everyone’s gaze. How much income they have, everyone had seen already.
According to the estimate of the Business Union from last time, even if each of the Frestech Chamber of Commerce’s products made pure profit, their income in the last half a year should only be less than two hundred thousand gold coins. What made Xu Yi think he could meddle in the auction for these two iron mines? Where did the Frestech Chamber of Commerce get all that money?
Of course, it was impossible for him to get the answer from Xu Yi. So he could only chat with Xu Yi about a few things before leaving.
When he turned around, chairman Cruise looked over the banquet hall and he was suddenly shocked.
In this area of over five hundred square meters where the highest arc was only around four meters tall, looking around, chairman Cruise suddenly saw many products from the Frestech Chamber of Commerce.
On the walls to the left and right, going from one side to the other, there were up to twenty Variable Temperature Magic Air Conditioners lining the walls.
Although in the advertisement from the Frestech Chamber of Commerce, it said that a single Variable Temperature Magic Air Conditioner could support an area of thirty square meters, this was a banquet hall the Lord City Lord used to host guests, of course he wouldn’t be petty. So he bought twenty units from the Frestech Chamber of Commerce at once.
Because it was deep winter now, the night was cold enough to ice formed, so there were twenty Magic Air Conditioners on at the same time in this banquet hall. It made the banquet hall as warm as spring.
Under the Magic Air Conditioners, there was also a row of stands and on each stand was a row of the Frestech Chamber of Commerce’s newest Magic Lamps. They were releasing a bright light that lit up the room like it was daytime.
When the banquets were held before, other than the countless candles that were on the wall, there had to be candles placed on every table to light up the entire hall.
But now they just needed to hang a few Magic Lamps, as well as the Magic Lamp Chandelier specially made by the Frestech Chamber of Commerce and the hall was brightly lit, without a single feeling of darkness.
Seeing the Magic Air Conditioners and Magic Lamps, chairman Cruise couldn’t help thinking of a guess that even he didn’t dare believe.
Perhaps……everyone had underestimated the Frestech Chamber of Commerce.
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Xu Yi didn’t know that chairman Cruise was thinking about all of this and he didn’t know that he had seriously misjudged the Frestech Chamber of Commerce because he saw all the different products
But he knew the guess of two hundred thousand gold coins in chairman Cruise’s mind, he definitely would have been surprised.
This is because according to the financial record Sebas had made half a month ago, in this half a year, not including the income from the Magic Lamps, the Frestech Chamber of Commerce had earned just around two hundred thousand gold coins from their products.
But the real profit of the Frestech Chamber of Commerce was not something outsiders could calculate.
The reason was very simple, every product of the Frestech Chamber of Commerce had explosive profits! Moreover, they were very terrifying profits!
The one with the lowest profit margin was the first product, the Magic Fan.
This is because when the Magic Fan was developed back then, Xu Yi wasn’t that experienced with researching magic machines, so he didn’t properly decrease the cost of the Magic Fan.
Moreover, Xu Yi didn’t have enough dwarven craftsmen back then and hadn’t developed the production magic machines to mass produce them yet. So most of the outer covers for the Magic Fans were made from blacksmiths in Banta City, which increased the cost even more.
But even like this, the profit margin of the first generation Magic Fan was over 50%.
As for the second generation Variable Speed Magic Fan, because the production methods had matured and they could use the production magic machines to mass produce them, the cost had greatly decreased, while the price was the same as the first generation Magic Fan. This created a profit margin of over 70%.
As for the agricultural magic machines, the Magic Air Conditioners, the Magic Rice Cookers, and the current Magic Lamps, no matter which one it was, they didn’t have a profit margin of under 70%.
This meant that in less than half a year, the Frestech Chamber of Commerce’s gross sales number was two hundred thousand and their gross profit was a shocking one hundred and forty thousand gold coins!
Of course, the Frestech Chamber of Commerce had invested quite a bit during this time.
Most of this was spent on research.
For research on new products, new technology, and new theories, Xu Yi didn’t hold back at all to invest.
In this half a year, Xu Yi had invested over twenty thousand gold coins just on this aspect alone.
Adding in the close to thirty thousand gold coins they spent on worker wages, the current Frestech Chamber of Commerce’s balance had eighty seven thousand four hundred and sixty three gold coins.
For Xu Yi and the Frestech Chamber of Commerce that were made from nothing, this was without a doubt a large amount.
But if this amount was used to buy the two iron mines, it was far from being enough.
After Xu Yi finished calculating in his mind, when he lifted his head, he met the distant curious gaze of the Falcao Chamber of Commerce’s chairman Fuller Morgan.