Chapter 38: First Encounter on the Silk Road

The following morning, the Bangkok Stock Exchange.

As the opening bell rang, the Golden Elephant Food Industry Company, which had been suspended for nearly two weeks, officially resumed trading. Inside the trading hall, countless eyes were fixed on the massive quote board. Before the suspension, Golden Elephant’s stock price had plummeted to a low of 1.05 Thai Baht, and market sentiment was generally pessimistic.

However, the very first transaction of the day gapped up, opening directly at 1.25 Thai Baht! Immediately following this, a surge of buy orders poured in, pushing the price upward with every trade.

1.30...
1.35...
1.40...

Trading volume spiked dramatically, with the turnover rate exceeding 5% in just half an hour. The panic selling had long since been cleared out by Sugar Heart Capital during the period leading up to the suspension and their accumulation at low levels; at this moment, sell orders in the market were scarce. The primary force driving the stock price, aside from a few keen-nosed speculative funds, was a powerful and sustained wave of buying. This was precisely the market capitalization management being executed by Fang Wenshan under Chen Bingwen’s instructions, using the remaining funds of Sugar Heart Capital. The objective was clear: to reverse market expectations and restore the value of Golden Elephant.

The initial acquisition of 51.3% of Golden Elephant had cost 2.385 million Hong Kong dollars. This time, Chen Bingwen used the remaining 1.6 million-plus Hong Kong dollars entirely to support the stock. By 10:30 a.m., the stock price of Golden Elephant stood firmly at the 1.50 Thai Baht mark, a gain of over 42%. The entire exchange was buzzing with speculation about what had happened behind the scenes at Golden Elephant.

Just then, explosive news spread through the exchange's official news agency, major financial newspapers, and radio stations, reaching every corner of the Bangkok and Thai financial circles in a short time:

"Golden Elephant Food Industry Company announces that it will hold a press conference at the Bangkok Oriental Hotel at 2:00 p.m. today to explain matters regarding the change in company control, major future strategic development, and the introduction of important strategic investors!"

At the press conference, journalists from local Thai media and international financial outlets based in Thailand were packed into the room. Although Golden Elephant’s market capitalization was only a few million Hong Kong dollars, it was, after all, one of the twenty-something listed companies in Thailand; the media still deemed it worthy of attention.

At exactly 2:00 p.m., Chen Bingwen walked onto the podium with a steady gait, accompanied by Fang Wenshan, Wirayut, and a middle-aged man in the uniform of a senior manager from Bangkok Bank. The camera flashes below turned into a blinding sea of light.

Chen Bingwen skipped the pleasantries and went straight to the point. His voice, carried clearly through the microphone, was followed immediately by a Thai interpreter:

"Good afternoon, members of the media. I am Chen Bingwen, representative of Sugar Heart Capital Limited. First, on behalf of the new Board of Directors of Golden Elephant Food Industry Company, I thank you all for your interest in Golden Elephant."

"As you are aware, Sugar Heart Capital has legally and compliantly acquired 51.3% of Golden Elephant’s equity through secondary market trading, becoming the company’s controlling shareholder."

He paused, scanning the room, and delivered the first bombshell:

"Today, I am honored to announce a milestone partnership for the future development of Golden Elephant. Thailand’s largest financial institution, Bangkok Bank, has officially become a strategic shareholder of Golden Elephant Food Industry Company, holding a 30% stake!"

As soon as he finished, the room erupted. Reporters raised their hands, and the sound of shutters grew even more intense. Bangkok Bank investing in a food company that had just experienced a crash and was in turmoil was a shocking turnaround!

Chen Bingwen gestured for silence and continued: "Bangkok Bank’s investment is a powerful endorsement of Golden Elephant’s core asset value, future potential, and the capability of our new management team. This not only provides Golden Elephant with invaluable credit support but will also bring rich financial resources and localized expertise to the company. We are confident that with the support of Bangkok Bank, Golden Elephant will overcome its difficulties faster and achieve stable development."

He signaled to the representative from Bangkok Bank beside him. The middle-aged manager stood up and, in brief, forceful Thai, confirmed the investment and emphasized Bangkok Bank’s confidence in Golden Elephant’s new management and strategic planning.

Next, Chen Bingwen threw out the second piece of good news, addressing the fundamental business operations that the market cared about most.

"Currently, Golden Elephant’s production and business activities have fully resumed and are accelerating. The production capacity for coconut milk and syrup at our Rayong factory has returned to normal levels and is being continuously optimized. More importantly, we have locked in stable, high-quality raw material supply channels, guaranteeing the continuity of production."

"I am pleased to announce that Golden Elephant has signed a long-term, stable strategic supply agreement with our important affiliate, the rapidly growing Chen’s Food Limited from Hong Kong. Over the next three years, 70% of the high-quality coconut milk and syrup capacity from our Rayong factory will be prioritized for supply to Chen’s Food to support its rapid expansion in Hong Kong and the Asian market."

A change in control, the entry of Bangkok Bank, the resumption of production, and the securing of large, long-term orders—four major positive developments came one after another, instantly reshaping the market's perception of Golden Elephant. The press section was in a frenzy, with questions flying one after another.

At the venue, a middle-aged man from the Songchai family heard Chen Bingwen discuss the future of Golden Elephant and cast a complex look at Chen on the stage and the Bangkok Bank representative beside him. He closed his notebook and quietly left the room.

The official news of Bangkok Bank’s investment and the lopsided public opinion at the press conference completely dashed any thoughts the Songchai family might have had of a counterattack or sabotage. They had no choice but to accept reality.

A week later, at the Golden Elephant Rayong factory.

In the office, Chen Bingwen was attentively listening to the Golden Elephant management team report on their progress.

"The supply points for the six cooperatives in the northern provinces of Phang Nga and Chumphon have all been established, and the quality has consistently reached Grade A standards," reported Chaiwat, the procurement manager of Golden Elephant, as he handed over a report.

Chen Bingwen nodded, his eyes scanning the procurement data.

Pongchai added from the side: "Daily production capacity has stabilized at 5 tons, which fully satisfies the dedicated line for Chen’s Food. The settlement channel established by Director Wirayut is highly efficient."

Fang Wenshan took over: "The settlement currency is pegged to the US dollar."

"Very good," Chen Bingwen nodded with satisfaction.

...

After the meeting, once the management team had left the office, leaving only Chen Bingwen and Fang Wenshan:

"Mr. Chen, this game of chess with Golden Elephant can be considered truly alive now," Fang Wenshan said, sounding relieved. "The stock price is stable, we have bank support, and the raw material and sales channels are open. All that remains is to optimize management and improve efficiency step by step."

Chen Bingwen nodded. "The foundation is solid, but it is far from time to relax. Pongchai and Chaiwat have decent abilities, but their vision is limited. As CFO, Wirayut is professional, but we need time to build rapport. For the next year at Golden Elephant, the core will be two things: stabilizing production and reducing costs. Ensure that the supply to Chen’s Food is foolproof, and at the same time, improve internal operational efficiency; profits will naturally follow."

He set down his water glass. "Accountant Fang, for the daily supervision and financial auditing of Golden Elephant, I leave it to the diligence of De-Xin; send someone to check once a quarter. I will review the statements regularly. Additionally, find a professional manager who understands Thai, is familiar with the local business environment, and has strong execution skills to be the resident representative of Sugar Heart Capital at Golden Elephant. Their rank should be higher than Pongchai’s, and they will be responsible for overseeing the execution of our strategy. Keep an eye out for candidates; background and ability are the top priorities."

"Understood, Mr. Chen," Fang Wenshan replied immediately. This was a necessary step to keep Golden Elephant on a stable track.

"As for Bangkok Bank, maintain a good relationship. Give their appointed director plenty of face, but do not let core decision-making power slip away. If there are problems you cannot solve, contact me," Chen Bingwen added. He knew the honeymoon period with Bangkok Bank needed to be carefully nurtured.

After dealing with these matters, Chen Bingwen exhaled softly. Coming to Thailand for a month felt like going through an intense campaign. Now that the smoke was clearing, the time to return had come. Thinking of his parents in Sham Shui Po, the busy Gao Zhenhai and Zhong Qiang in the Kwun Tong factory, and the recently emerging Chen’s Sweet Soup in Hong Kong, a faint sense of longing welled up in his heart.

"The flight back to Hong Kong is tomorrow afternoon," Chen Bingwen said to Fang Wenshan. "There are no arrangements for this afternoon, so why not join me for a stroll? I want to buy some gifts for my family and Ah Hai and the others."

Fang Wenshan readily agreed. "Good. I know a few good specialty shops. Thai silk, crocodile leather goods, and essential oils are all excellent choices."

In the afternoon, the Bangkok sun remained intense. The two, accompanied by a translator, left the hotel and strolled through the bustling streets. Chen Bingwen chose an exquisite crocodile leather wallet for his father, Chen Guofu, a set of premium jasmine aromatherapy essential oils and handmade soaps for his mother, Wang Qiaozhen, and a practical leather tool bag for Gao Zhenhai. While passing a jewelry store, he paused for a moment to pick out a sapphire-inlaid silver bracelet with a simple and elegant design for Gao Meiling; the young girl had helped the family a lot, and she deserved a decent gift.

With the shopping mostly done, the two returned to the Oriental Hotel, carrying several bags. As they passed through the lobby, Chen Bingwen’s gaze inadvertently swept across a relatively quiet corner. A rather inconspicuous storefront caught his attention. The sign featured elegant Chinese calligraphy: "Jin Tai Silk."

Through the bright glass display window, one could see that what was on display was not the usual tourist souvenirs, but bolts of silk with warm luster and fine textures.

"A silk shop?" Fang Wenshan noticed it too. "Opening in a place like this, they are likely targeting high-end guests and foreign visitors. It won't be cheap."

Chen Bingwen’s gaze, however, lingered on the plaque.

"Jin Tai Silk..." he murmured. "To open such a purely Chinese-style silk shop in Bangkok, the owner must either be obsessed with traditional culture, or..." A thought flashed through his mind: "They are Chinese or of Chinese descent."

"Accountant Fang, shall we go in and have a look?" Chen Bingwen stepped toward it.

As they pushed open the solid wooden door, a copper bell hanging from the doorframe gave a crisp, melodious "ding." A middle-aged woman in a modified cheongsam with a gentle temperament was carefully organizing the shelves. Seeing guests enter, she looked up, a perfectly calibrated smile on her face, and greeted them: "Sawasdee ka."

Chen Bingwen nodded slightly, his eyes lingering on the silk, and replied in Chinese: "Hello. This silk... is very unique. It doesn't look like the common local style."

Hearing pure Chinese, the woman immediately switched to equally fluent Mandarin: "Sir has a keen eye. Our Jin Tai silk uses select mulberry silk from northern Thailand as raw material, but the weaving techniques and designs inherit the old craft brought over from Chaozhou by our ancestors."

"Chaozhou?" Chen Bingwen felt a stir. The Chaozhou business community had immense power in Southeast Asia, with influence penetrating various fields, including economy, politics, and culture. He picked up a bolt of plain crepe satin that felt exceptionally smooth and delicate, holding it up to the light; the luster was as gentle as flowing water.

"Good material. This level of craftsmanship cannot be achieved without years of dedication."

"Sir is a connoisseur," the woman’s smile deepened. "My ancestor was a weaver in the city of Chaozhou who later went to Nanyang and settled in Chiang Mai. This craft has been passed down through generations. It’s a pity that fewer young people are willing to learn it now..." Her tone carried a hint of imperceptible regret.

Just then, the shop door was pushed open again. A young man in a well-tailored suit with a tall, upright figure walked in. He was about twenty-seven or twenty-eight years old, with handsome features. More eye-catching was that he was holding the hand of a little girl of about eleven or twelve. The girl was wearing a pretty floral dress, her eyebrows arched, her skin fair, looking like a delicate porcelain doll.

"Mom, Yingluck and I are back," the young man said in Thai to the woman, his voice gentle.

"Shin, you're back," the smile on the middle-aged woman’s face became incredibly warm. "Yingluck, are you tired?"

"Not tired, Mom! Brother took me to eat some delicious coconut ice cream!" The little girl Yingluck’s voice was crisp and melodious, her eyes glancing nimbly at the two strangers, Chen Bingwen and Fang Wenshan.

The young man called "Shin" then noticed the two guests in the shop. His gaze lingered on Chen Bingwen for a moment with a professional, scrutinizing look, but it quickly turned into a polite nod, greeting them in Thai: "Sawasdee krub."

Chen Bingwen put down the silk he was holding, smiled, and responded in Chinese: "Hello. Your mother’s silk is breathtaking."

Hearing Chen Bingwen’s fluent Chinese, a flash of surprise crossed Shin’s eyes, and he replied in Thai: "Thank you. My mother’s craftsmanship is the foundation of Jin Tai." He seemed unaccustomed to talking much in front of strangers, but his attitude was not arrogant.

Understanding what Shin said through the translator, Chen Bingwen took the initiative to reach out: "My surname is Chen, Chen Bingwen, from Hong Kong. This is my colleague, Mr. Fang Wenshan."

Shin paused slightly, then naturally reached out to shake Chen Bingwen’s hand: "Nice to meet you. Thaksin Shinawatra. This is my sister, Yingluck."

He introduced himself and his sister. Hearing these names, combined with Shin’s appearance, Chen Bingwen instantly knew the identity of the brother and sister before him. They were the Shinawatra siblings who would profoundly influence Thai politics in the future! At this moment, Thaksin was clearly still serving in the police force, and that capable air was the aura polished by his time in the police.

"Mr. Shinawatra." Chen Bingwen switched to the honorific, his gaze turning to little Yingluck, who was secretly sizing him up, and smiled gently. "Miss Yingluck is very cute."

Hearing the compliment, little Yingluck hid behind her brother somewhat shyly, but her big eyes were full of smiles.

"Mr. Chen is too kind," Thaksin said politely. He seemed not to want to linger in small talk and said to his mother, "Mom, I’m dropping some things off with Yingluck, and then I have to go back to the station."

His mention of "the station" confirmed Chen Bingwen’s judgment.

"Alright, work is important," Thaksin’s mother nodded lovingly.

Chen Bingwen knew it was not appropriate to disturb them further, but he didn't want to miss this opportunity to establish an initial connection. He picked up the plain crepe satin from earlier and said to Thaksin’s mother: "Ma'am, please help me wrap this plain crepe satin and that bolt of pale green Xiangyun silk."

Thaksin’s mother was somewhat surprised; both were high-end materials in the shop and were not cheap.

"Mr. Chen has good taste; these are our finest pieces this year. Your wife must have great taste," she said while skillfully taking the materials, smiling with a compliment.

Chen Bingwen smiled frankly: "This is for my mother. She has worked hard all her life; she should have something nice."

He paid, took the beautifully wrapped silk, and glanced at Thaksin and Yingluck, who were waiting quietly nearby; he had already made up his mind. He took a simple business card from his briefcase, which only had "Chen Bingwen" in Chinese regular script and a Hong Kong phone number, and handed it to Thaksin: "Mr. Shinawatra, it is a pleasure to meet you. Please forgive the intrusion. This is my business card. I run a food business in Hong Kong and occasionally do some investments. The silk at Jin Tai is impressive; if we have the chance to meet again, I hope we can exchange more."

Thaksin took the extremely simple business card, pondered for a moment, and also took a business card from his inner suit pocket, handing it to Chen Bingwen: "Mr. Chen is too polite. This is my card. There will be plenty of time in the future; I hope we can talk more."

The card was printed with Thaksin’s full name and title: Deputy Commissioner of the Metropolitan Police Bureau of Bangkok. While the position was not the absolute top, it was already a mid-level position with real power in the Bangkok police force, and his future was boundless.

Chen Bingwen put it away solemnly: "So it is Commissioner Shinawatra, excuse my lack of recognition." He understood that the value of this card could not be measured by a single shopping trip. This might be a hidden path leading to the future high-level political and business circles of Thailand.

"It is my duty," Thaksin nodded slightly, seemingly accustomed to the title. He turned to his mother and sister: "Mom, Yingluck, I’m leaving." He then nodded to Chen Bingwen and Fang Wenshan: "Mr. Chen, Mr. Fang, see you again."

Watching Thaksin’s figure disappear outside the shop, Chen Bingwen’s heart rippled slightly. Who could have imagined that this young police commissioner would one day hold the reins of the country? And that the innocent little girl, Yingluck, would also walk the same path to the pinnacle? The winds and clouds of history sometimes begin with such an inadvertent encounter.

"Mr. Chen, would you like to see anything else?" Thaksin’s mother’s voice pulled Chen Bingwen’s thoughts back.

"Not for now, ma'am. Your silk is excellent; I will come again if there is a chance." Chen Bingwen smiled and bid farewell, leaving the Jin Tai silk shop with Fang Wenshan.

On the way back to the room, Fang Wenshan couldn't help but lower his voice: "Mr. Chen, that Commissioner Shinawatra... he has an extraordinary presence. Your handing over the business card was brilliant. In a country like Thailand, family power is everywhere; getting to know this Commissioner Shinawatra can also help us build some connections in the police system."

Seeing Chen Bingwen take the initiative to hand over the card, and then learning that Thaksin was a deputy police commissioner, Fang Wenshan mistakenly thought Chen Bingwen was doing it to build connections.

Chen Bingwen stroked the smooth silk packaging in his hands and laughed: "Accountant Fang, this is just a casual move; it's enough to plant the seed first."

After saying that, he checked the time: "Let's go back to the room and pack up. There is still a lot to deal with in Hong Kong."