The online shopping platform "Story Ztore", which specializes in local brands, started the anti-regulation campaign. After one of the founders, Ling Junjie, made comments on the Internet in support of the amendment to the Fugitive Offenders Regulations, some netizens initiated a strike action. It recorded a loss of nearly 60 million yuan in two years.
In the middle of this month, TV Broadcasting (0511) and Shaw Brothers Holdings acquired 75% of "Story" for a total consideration of 200 million yuan, of which 130 million yuan will be paid by injecting advertising resources including its artists, TV advertisements, etc., only 70 million yuan Yuan is paid in cash.
In an exclusive interview with "Hong Kong 01", Junjie Ling said frankly that the social events in 2019 had a great impact on "staff", but he would not use political factors as an excuse. The partners and employees are sorry.
Ling Junjie confessed that the anti-amendment turmoil brought him a lot of mental pressure, causing him to fall into depression for a time. "In 2015, we really used time-honored brands to shoot the door... I would like to ask for support for Hong Kong brands and local brands. The representative pretends to be local? Speaking of selling local brands, I don’t make any money at all.”
On June 12, 2019, at the beginning of the anti-revision movement, a large number of demonstrators surrounded the Legislative Council to prevent the passage of the "Fugitive Offenders Ordinance", triggering fierce police and civilian conflicts. On the same day, Ling Junjie, one of the founders of "Story", posted a message on his personal Facebook page. He supports the amendment, saying that he believes that only a small group of people are "intentionally doing things." I hope that everyone can discuss it rationally. The image of "store" immediately changed from "local" to "blue shop," and it was suppressed by netizens.
Two years later, TVB acquired 75% of the shares in "Story". Ling Junjie said in an interview that "Story" made him feel mixed. At that time, many people published articles about it and launched it online, including launching a stop-buying in the Liandeng forum, etc. It is undeniable that personal attacks have had a great impact on the "staff". "The business hasn't fallen a lot, but malicious attacks and other attacks have caused us to push forward the plan without being able to do so. It hurts either."
He pointed out that at first he didn't think that the demonstration would last so long. At that time, the society became polarized. The "Story" leadership made an administrative decision to "keep quite" and stop all marketing efforts.
Will not use politics as an excuse
"Story" has lost money in the past two years. Is it the main reason for supporting the revision of the post?
Ling Junjie said that he can’t make a assertion, because "Story" itself focuses on the Hong Kong market, and he will not use political factors as an excuse. How big? I don’t dare to talk about it, but what’s done is done, something has happened, and I’m not going to use it as an excuse.”
Recalling the anti-amendment turmoil, Ling Junjie said that "Story" was questioned for "pretending to be a local", which made him very sad, because the original intention of founding "Story" was to allow more people to come into contact with Hong Kong's time-honored brands.
He recalled that in the early days of its establishment in 2015, he personally went to the time-honored shops and begged them to supply goods, but some merchants only wanted to supply them at retail prices. Carrying the rice, every package sold will lose one package", "I’m even more upset in 19 years, because people think that I pretend to be local. I want to ask, support Hong Kong brands and support local brands, which means pretending to be local I sell local brands, all of which don’t make money, so please go and pretend to be my watch.”
Hope to share experience and help young entrepreneurs
When asked if he regretted publishing the article in support of the amendment, Ling Junjie thought about it for a while and said that he did not regret it personally, but he felt sorry for the impact on his family, partners and employees.
As for why he chose to sell his equity to TVB, Ling Junjie said that the other party is a good partner and should not underestimate its advertising power. In addition, TVB hopes to develop e-commerce, which can complement each other strategically and produce synergy (synergy).
Ling Junjie emphasized that "Story" has built a lot and laid a solid foundation for Hong Kong, especially in logistics, and has also helped many local time-honored brands.
Ling Junjie, who is also the chairman of the Elite Club, said that he hopes to devote more time to youth work in the future. Opportunities in the Bay Area.
Ling Junjie has signed up to run for the "National Group Hong Kong Representatives" sub-group of the fifth sector of the Election Committee. He has passed the qualifications and was automatically elected.
For the list of other candidates, please refer to the "Hong Kong 01" Election Committee page.
Interview | 6 All-China Youth Federation Election Committee: Never give up young people and advocate seizing opportunities in the Greater Bay Area. Do not immigrate Shaw Brothers acquired Stories and spent 200 million of them, 70 million of which were used in cash to pay TVB to take advantage of the prosperous e-commerce market and Stories. Is it enough to wash the business connection for 3 years and see a boom?
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