Super Zoo

The so-called 'lack of culture' is not about being uneducated, but rather, not understanding economics.

Like all self-made entrepreneurs, Suming's previous success stemmed from personal effort and talent. However, as the business grew to a certain stage, these rudimentary capabilities were no longer sufficient to meet development demands, and more specialized knowledge was required for adequate preparation.

From an economic standpoint, Suming's ideas were actually quite naive.

Firstly, the larger the group's assets, the higher the market value after going public—theoretically, this is correct, but there's a caveat: the business sectors of the listed group must be in the same field.

For example, a real estate company going public might include property development, rental leasing, CBD commercial districts, and the construction of cultural tourism zones. All these are based on the foundation of real estate, with each additional relevant industry bolstering the entire group.

Conversely, if the businesses within a conglomerate are not related or even have nothing in common, they would likely impede each other.

Merging various companies from different fields into a super-large group becomes a clumsy hodgepodge, leading to many awkward situations.

What does this group actually do? Where is its future development direction? Where does its core competitiveness lie? Which field is the focus, and how are money and resources allocated?

These issues not only cause confusion among investors but also leave internal employees at a loss, and might even prevent the company from successfully going public.

With listed pharmaceutical companies, real estate companies, technology companies... what exactly is the Taoyuan Group? It's a mismatched entity.

Such thinking is entirely lacking in economic knowledge, a perspective that originates from the average person's point of view.

Forcibly combining companies from different business fields into one group not only creates difficulties in going public but also leads to an inability to effectively and rationally allocate resources. It can also cause a series of management and marketing troubles. It's definitely not as simple as one plus one equals two and can have nearly disastrous consequences.

In a sense, this was also the reason for Suming's previous feelings of 'confusion and helplessness'.

Consolidating the group was his grand goal, and he was constantly in search of the so-called 'opportunity.'

Yet, there was no such 'opportunity' that could amalgamate companies from various fields. Hence, there existed an insurmountable chasm between Suming and his goal.

Because the direction was wrong, his career hit an impasse, and any forced effort would merely result in failure, breaking the proverbial bottle.

Bundling together for an IPO was unworkable; they had to be individually packaged for the IPO.

With a change in thinking, the path ahead suddenly cleared.

There was no need for Park Cheol-bin to elaborate. Suming already had a clear idea in mind.

The company's current mainstays, core, and peripheral industries had already branched out into several major fields.

Field One: Entertainment. The film and television company is one, and the live-streaming platform is another.

Both companies could either merge for an IPO or go public independently.

From a business perspective, it is better for them to list separately.

The prerequisite is to continue growing. For instance, the film and television company—Taoyuan Film and Television—certainly doesn't qualify yet. It needs to produce several more high-box-office films, have box-office sales, stars, a professional team, and ideally establish even the smallest cinema chain.

To continue to expand the live-streaming platform's scale is somewhat challenging.

However, economics teaches us that the most convenient way to expand is through acquisitions.

There are hundreds of live-streaming companies in the country, many of which are moderately profitable but have sound assets. As long as there's money, Suming can proceed with acquisitions and restructuring.

If a live-streaming company can go public, it's not just about making money; it also serves as an excellent promotional platform. As long as a reasonable profit model is found, streamers have a vast array of content they can present live, not just relying on pushing the boundaries to attract attention.

Field Two: Tourism. Relying on the core industry resources of the zoo and the three Taoyuans on the back mountain, linking Huating Reservoir and Qinling Wildlife Reserve, a sizable tourism industry can be developed, with the tourism company eventually going public on its own.

Field Three: Agriculture. Even Suming had not paid much attention to this before, but after consideration and counting on his fingers, Sun Town, the fishing company, the plantation on the back mountain, plus a new unit established to purchase the fruits from Yangchuan City's farmers—it all adds up to agriculture.

Field Four: Catering. Great Sage Liquor Industry, Hong Family Cuisine, and Whisperwind Pavilion.

Among the four major fields, there is also a hierarchy in terms of priorities.

The two companies in the entertainment industry, though starting relatively late, are actually the most ready, lacking only the necessary funds. Once the finances are in place, movies can be produced, or acquisitions can be made to quickly prepare for the IPO.

The tourism business is a long-term endeavor. Strictly speaking, the various attractions are not completely developed yet, and there are two policy obstacles to overcome. The rating of the scenic areas and the acquisition of the zoo must be addressed first. As with the core industry, it's sufficient to ensure its orderly development, without rushing.

There are few agricultural companies listed, and while size is one factor, the most crucial aspect is having core technologies and a brand. Suming has yet to achieve these, so the agricultural company's IPO is not under consideration for now.

The success of the catering business relies on scale and brand, demanding time to accumulate goodwill. Just one or two professional chefs are not enough to make a decisive impact. Da Sheng Liquor is in a booming stage of development, while Hong Family Cuisine and Whisperwind Pavilion are just starting. They too can be allowed to 'fly for a while'; once they've developed sufficiently, Suming can then invest his energy into them.