Chapter 250: Investment in the Electronics Industry and Visiting the Bai Family
"Honor, huh? Honor Electronics... That does sound pretty good," Wang Zhiqun mused, rolling the name over in his mind. "It works in both Chinese and English, and even in some European languages, it's easy to pronounce."
"I've already instructed the lawyers to register the brand globally," Yang Wendong said. "Now it's up to you to finalize the core team as soon as possible."
Wang nodded. "Understood. Since Chinese New Year is on February 4 next year, I'll aim to resign from my current company in the U.S. before the 15th. I can complete the onboarding paperwork before then, but I'll need to stay in the States a while longer to assemble a team and scout transistor manufacturing equipment. There should be several manufacturers over there looking to offload or relocate production lines."
"Transistor production lines?" Yang thought for a moment and said, "Focus especially on Fairchild Semiconductor. I've heard they're considering moving production lines out of the U.S."
"Fairchild?" Wang Zhiqun raised his eyebrows. "That company is a big name in the States."
"And also," Yang continued, "help me look into the profiles of all their employees—especially the senior technical staff."
"I can do that," Wang replied, then asked, "Are you thinking of poaching them? That might be difficult."
"No, I have other uses for that information," Yang said, without going into details. "Just gather what you can."
Fairchild Semiconductor was, in many ways, the West Point of the electronics industry. In the future, many tech giants—most famously Intel—would be founded by people who left Fairchild.
Trying to invest in companies like that after they were already successful was nearly impossible. But in their early days, when their scale was still small, success was much more attainable—just like it had been with Walmart.
Of course, tech companies were different from retail. Even if you got in early, the moment a company like Intel made it big, it was unlikely they'd let a Chinese investor retain a significant stake. But regardless, it was worth trying. Even if he had to cash out early, the returns would still be astronomical.
This was, in a way, Yang Wendong's earliest strategic investment move in the electronics sector.
Wang didn't press the matter and simply nodded. "Alright, I'll look into it."
After a bit more small talk, they had lunch together. Then Wang Zhiqun took his leave.
Wei Zetao commented with a grin, "Mr. Yang, Wang is very well-connected in the U.S. With him joining us, I'm confident he can build out the core framework of Honor Electronics in no time."
"Yes. But the most important thing is still whether we can manufacture transistors ourselves," Yang said. "Once we've got our own supply, we'll be able to make all kinds of electronics without fear of being choked off."
While transistors weren't the only critical component in electronics, they were certainly the most essential—the foundation of the entire industry.
Just like in his past life, even though China had a massive electronics manufacturing sector, it still relied heavily on importing chips. The result? Companies like Qualcomm siphoned off over half the profits from China's smartphone industry.
Worse, Qualcomm would sometimes restrict supply to Chinese factories, creating artificial production shortages and essentially holding manufacturers hostage. And they could get away with it—because they had the leverage.
"You're absolutely right," Wei agreed.
"Alright, the electronics stuff can wait until after New Year. For now, let's talk about the end-of-year bonus and care packages for our workers," Yang said. "Is everything ready?"
"It's all been arranged," Wei replied. "Every worker, whether at our Tsim Sha Tsui or Kwun Tong sites, regardless of tenure, will receive the same care package as long as they're employed.
Each person will get a jug of oil, a bag of rice, and five jin of salted pork. It's all stored in the cold storage, and we'll distribute everything right before the holiday to ensure everyone has a good New Year."
"And what about workers from our partner suppliers in the park?" Yang asked.
Changxing's industrial park housed not just their own factories but also those of their suppliers.
"They'll receive care packages too," Wei said. "I've already spoken to their bosses. Compared to the profits they're making, this is a tiny expense.
If any of them can't even do this much, I'll have to reconsider our long-term collaboration with them."
"Good," Yang nodded. "We want our workers to have a great New Year. Once we hit full production capacity next year, both quality and output will rise. That'll boost Changxing Industrial's profits, which will make everything else I want to do a lot easier."
His business empire was already quite large, and both the real estate and shipping arms had grown significantly. But in reality, they were still in the early stages. They weren't yet generating the kind of profits that could offset the massive initial investments.
From the beginning, Changxing Industrial had always been the group's financial backbone. Even if Honor Electronics succeeded, it wouldn't be profitable in the early years.
Previously, their growth had been constrained by fragmented supplier networks, poor management, and limited production capacity. Now, with the new industrial park, those issues had been resolved.
By next year, Changxing Industrial's profits would likely surge—enabling the group to push forward more aggressively in both real estate and shipping.
"I understand," Wei said.
He knew his boss's reasoning well. Yes, Yang was genuinely good to his employees—but also shrewd enough to recognize that motivated workers delivered better results.
Changxing's products were positioned as higher-end exports, where quality was paramount. That meant everyone in the company had to be part of the quality assurance process—especially the workers on the factory floor.
To make that happen, employees needed to truly care about the company's success.
To encourage this, they offered not only emotional appeals but also real incentives. Every worker who spotted and reported a defect received a reward—recognition and cash.
Both hearts and wallets were taken care of.
…
January 2, 1962 – Chi Shan Road, Zhile Villa
A Mercedes-Benz followed the winding road under the guidance of a security guard and entered the villa complex.
Inside the car, Yang Wendong chuckled. "Yushan, your neighborhood is really something else. It's way nicer than the place I used to live in Tsim Sha Tsui."
He had long since moved out of the villas he bought early in his career. Those properties had been handed over to his old allies Zhao Liming and Lin Haoyu as rewards for their loyalty in the startup days.
Bai Yushan smiled and said, "Of course! This is Hong Kong Island, after all. There are lots of wealthy people here, and plenty of upscale villa districts. Kowloon has only started developing more recently."
Yang Wendong replied, "That's true. But the economy in Tsim Sha Tsui is picking up quickly. Who knows—one day it might rival some areas here on the island."
"Really?" Bai Yushan asked with interest. "Because of your factory? I heard Tsim Sha Tsui's tax revenue went up by 30% last year compared to the year before. All thanks to Changxing Industrial?"
"Haha, not quite that much," Yang chuckled. "Maybe two-thirds of that increase was due to us. The rest came from the area's natural economic growth."
While Changxing's Tsim Sha Tsui factory wasn't as large as the new Wanren Industrial Park in Kwun Tong, it still employed four to five thousand people. It was the main production site for Post-it notes and mouse traps.
Because most of the core material—paper—was imported, its impact on the surrounding industry wasn't as strong as plastic-based products. But in terms of economic contribution, it was still significant.
"Sounds like you're showing off on purpose," Bai Yushan teased. "Turn right here. Number 16 is my house."
"I see it." Yang turned the steering wheel slightly, and as the car straightened, another "Bai Yushan" appeared—waiting outside a villa.
As the car came to a stop, Yang got out, and Bai Yujie greeted him with a smile. "Welcome to our humble home, Mr. Post-it King."
Yang laughed. "If this is a 'humble home,' then I guess there are no fine houses in all of Hong Kong."
"It's not that impressive. Your Mid-Levels villa probably beats ours hands down," Bai Yujie replied.
Yang smiled again. "Not many people live up in the Mid-Levels. If you're interested, you can come stay a few days."
"That sounds wonderful. I'll have to visit sometime," Bai Yujie grinned.
"Of course." Yang didn't mind—there were plenty of empty rooms in his Mid-Levels property.
"Come on in," Bai Yujie said.
"Mm." Yang followed, grabbing some gift boxes from the trunk—mostly health supplements and tonics.
Among Hong Kong's wealthy, gifting high-end health products was the norm. Expensive trinkets were meaningless between affluent families. What mattered was utility and thoughtfulness.
In the courtyard, a middle-aged man stood beside a similarly aged woman, along with a visibly pregnant young woman—around thirty. That, Yang guessed, must be the "Second Aunt" Bai Yushan had mentioned.
"Brother Dong, this is my father, my mother, and Aunt Yun," Bai Yushan introduced.
"Uncle Bai, Aunt Lin," Yang greeted with a smile. He already knew their names—Bai Qiwen and Lin Yumei.
As for the pregnant woman, he gave her a polite nod.
Bai Qiwen laughed. "Haha, just call me Uncle Bai, then. Come in, come in."
Lin Yumei accepted the gifts and smiled. "You didn't have to bring anything. Just your visit is enough."
"Just a little something," Yang said. "Some health supplements."
Inside, the sisters gave Yang a tour of the home.
"You two share a room?" Yang asked, surprised.
"Of course," Bai Yujie replied. "We've shared a room since we were kids. Back then, the family wasn't rich. Later, when business got better, we had more rooms—but by then, we were already used to sleeping together."
"Oh." Yang left it at that.
Girls had certain privileges in this regard. Two women could go shopping holding hands or hug when happy or sad. If two men did that, it would be… a little hard on the eyes.
Soon after, they sat down to a family-style banquet.
The Bai family's meals were quite good. They had a personal chef, and their hospitality ensured that Yang left with a full stomach.
Later, they moved to the villa's third-floor terrace—a cozy sunroom with a glass ceiling. The winter sun filtered in gently, making it pleasantly warm.
The women chatted on one side while Yang and Bai Qiwen sat with a tray of strawberries between them, inevitably drifting to the topic of real estate.
"Uncle Bai, why haven't you invested in property?" Yang asked curiously. "Renovation work is tough, and a good investment property can earn more through appreciation."
Bai Qiwen nodded and said, "Let me tell you a funny story. For our residential renovation business, our team would buy a small unit in each complex just to get in as 'owners.' Then we'd visit neighbors to pitch our services—much more effective that way.
But over the years, I realized the total profit from all the renovation jobs in a given building was often less than the increase in value of that one small unit."
"Yeah, it's crazy—but that's reality," Yang said.
In the past few years, Hong Kong real estate had surged almost as much as it would during the famous booms of the '80s and '90s. It just wasn't as well known because most Chinese tycoons were still in the wealth-accumulation phase.
Many small-time players had made it big through property.
Of course, countless others went bankrupt during the 1966 crisis. But those who survived went on to become legends.
"I've dipped my toes in," Bai Qiwen said. "Used the money I earned from renovations to buy a few commercial spaces on the island—just a dozen or so. I couldn't afford more."
Yang thought for a moment. "You might want to look at Tsim Sha Tsui or Kwun Tong. They're not as developed, but they've got more room to grow. The appreciation potential is even higher than on the island."
When a city's economy matures, downtown areas appreciate, but the percentage increase in newer, underdeveloped districts can be even higher.
"Good idea. I'll look into that," Bai Qiwen said. "But I'll still keep running the renovation business. This is my life's work. Plus, I've got over a hundred men working for me—it's how they make a living."
"Of course," Yang said with a smile. "It's the same for me. We built our companies together, and no matter how far I go, I'll always try to take care of the people who were with me from the start."
Many Hong Kong tycoons got rich from real estate. But few gave up their original businesses unless they absolutely had to. Even Li Ka-shing continued running Cheung Kong's other divisions—not just for sentiment, but to support the employees who'd been with him through thick and thin.
Yang planned to do the same.
Even when Hong Kong's industrial base moved out, he wouldn't be able to keep tens of thousands on the payroll. But he'd make sure to create new opportunities for as many of them as possible.
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