Chapter 338 What use could this small sum of money from Feiyan Industrial Group be? ...

In the Spring Festival of 1986, another year had passed, and the family spent a festive Spring Festival together in their small villa on Fuxing West Road.

That year, the family bought another imported VCR and a video game console. Li Jianzhi asked his comrade-in-arms to bring back a batch of the latest Hong Kong and Taiwan videotapes from Guangzhou, which attracted the neighbors and children to come and watch the videos on the TV.

The two sisters, Qing Sui and Qing He, like to watch videotapes, while the two siblings, Qing Feng and Qing Lan, prefer to play video games.

Qin Xiangxiang: "No watching horror movies at home!"

"No shouting while playing games."

As for Qin Xiangxiang herself, she screamed and yelled while watching horror movies, but she couldn't resist her daughters' temptation. The three of them drew the curtains, snuggled on the sofa to watch a horror movie, and ended up screaming all at once.

"I'm never watching horror movies with my daughters again!"

Li Jianzhi: "He says one thing but does another."

The kitchen was used to cook the New Year's Eve dinner, with the latest electric slow cooker and imported rice cooker. Even though they were the newest models, they still looked like simple old-fashioned relics to Li Jianzhi.

At this time, many households had rice cookers, but after using them for a while, most of them were left idle.

At this point, the rice cooker is prone to breaking down. If it breaks down, it won't trip the circuit breaker, meaning the rice cooker will keep cooking, posing a significant fire risk.

When Li Jianzhi was a child, his neighbor next door continued to use a rice cooker that was broken, and had the children in the family manually trip the circuit breaker every day. One time, the children were playing and, instead of causing a major disaster, a pot of rice was burned into a pot of charcoal.

Li Qingfeng: "The rice cooked in this electric rice cooker still doesn't taste very good."

Qin Xiangxiang: "I also think it's easy to make it half-cooked."

Li Jianzhi: "When the technology improves in the future... let's try cooking porridge in an electric slow cooker."

The kitchen in the small villa was large, and the whole family mobilized to prepare the New Year's Eve dinner. There were all kinds of dishes, such as poached chicken, eight-treasure duck, braised pork hock, and braised fish, and the table was full of them.

"Mom, I made you a new cotton-padded jacket!" The daughter, Li Qinghui, has now grown into a graceful young lady and has inherited her mother's talent for weaving and clothing. Of course, she has also inherited her mother's... laziness.

She has skillful hands and is good at painting, but she's too lazy to move or paint.

During the Chinese New Year, I made a beautiful Chinese-style cotton-padded jacket for my mother by hand. It was made with the latest imitation silk fabric developed by Feiyan Textile Factory, and it was very beautiful.

Qin Xiangxiang was overjoyed: "Let's wear matching mother-daughter outfits for Chinese New Year!"

Li Jianzhi: "Didn't Dad have one?"

Li Qingfeng: "Doesn't my brother have one?"

Li Qinghe and Li Qinglan asked in unison, "Doesn't my sister have one?"

Li Qinghui: "..." This big family is really suffocating.

A new year, a new outlook:

"Comrade Li Qingfeng will graduate from Fudan University this year."

"Qinghui is taking the high school entrance exam!"

"We're still two adorable elementary school students!"

Despite the tremendous success the business school has achieved in the new year, it remains mired in controversy and has even drawn criticism from a prominent domestic economics professor.

"Business schools seem to solve many practical problems, but this is based on empiricism and pragmatism! They only train profit-driven businessmen..."

These articles received support from many people in the intellectual and educational circles, and even sparked a "hundred schools of thought debate," bringing considerable public pressure to the development of the business school and pushing Qin Xiangxiang, the "soul principal," into the vortex.

"Perhaps Qin Xiangxiang herself is a profit-driven person?"

“A wrong value orientation will inevitably lead to a wrong result.”

"This is corrupting education in a capitalist way..."

...

As Qin Xiang read through the criticisms leveled against her, she realized that being an honorary principal wasn't easy. When interviewed by the media, she only responded with one sentence:

“When the business school was first established, we went to many universities to invite teachers, but not a single professor was interested in our makeshift business school. Now they criticize us for being empiricist and pragmatic. This is not because the school initially wanted to provide systematic theoretical training and education—but that path was not feasible from the beginning, so we had to find another way.”

"We can only rely on practice to forge our own unique path."

Qin Xiangxiang's response, after being reported by the media, also sparked a heated discussion, with some supporting her and others questioning it.

"The person who is truly driven by profit is probably not Principal Qin, but someone else entirely."

"The process of establishing a business school was really not easy. We couldn't find professional teachers, so we were forced to invite some bankrupt professors to complete the practical experience of 'coming back to life'."

"Is it really impossible to invite a professor? Or does Principal Qin lack the sincerity to make three visits to the thatched cottage?"

"But business schools still need to provide students with systematic theoretical education..."

...

Amid these public opinions, the State Commission for Restructuring the Economic System and the Ministry of Education jointly formed a research team, which quietly arrived in Shanghai and went straight to the Shanghai Business School to conduct specific research on education reform.

"Principal Qin, your school's practical achievements are remarkable, but what are the universal management principles behind them? I hope you can give this serious consideration."

The research team affirmed the practical achievements of the business school, but also raised some questions, and also requested that the business school gradually move towards a "formalized" academic path.

Their advice was to summarize universally applicable rules.

In essence, it means conducting case studies, refining theories, and producing academic results—that is, writing papers.

Business schools have many valuable case studies, which translate into numerous "papers." However, few business school students have academic backgrounds, and while they may be entrepreneurs, they may not necessarily write systematic and standardized papers.

Faced with this problem, Qin Xiangxiang had no choice but to send her own son to the business school. She invited many students from the Department of Economics and Management at Fudan University to establish a "Case Study and Theory Extraction Center" to summarize and extract successful and unsuccessful cases created by the business school, and to summarize management methodologies such as "Principles of Technology Commercialization", "Survival Rules for Small and Micro Enterprises", and "Transformation of Township Enterprises".

“Son, you guys come and teach Aunt Chen, Sister Bai, and others how to write papers, as well as Lu Pingchuan, whose case is also typical, and Liu Qiaomei…”

Li Qingfeng: "Mom, you should write a few more papers yourself!"

Qin Xiangxiang: "..." Let's just blow up the school!

It's truly a reversal of the natural order. When Qin Xiangxiang graduated from university, she thought that completing her graduation project was enough. Now that she's the principal, she's being forced to write a thesis and engage in academic research.

Business school faculty and students began writing a large number of academically rigorous papers. Under the guidance of professors with academic backgrounds such as Zhu Chonggui and Jiang Guohua, they submitted one paper after another to domestic journals such as Economic Research and Management World.

One paper was accepted, the second paper was accepted... the third, the fourth...

These papers have also demonstrated in the academic community that the practices of Shanghai business schools can be "academized".

"Principal, based on the current academic achievements of the school, it should take about two or three years for the city leaders to strongly promote the business school to be approved as an adult higher vocational college directly under the State Education Commission."

This means upgrading to a legitimate "junior college" and having the authority to independently issue nationally recognized junior college diplomas.

If it can obtain formal approval, it will be a qualitative leap, meaning that the "Shanghai Business School" will be officially incorporated into the national higher education system and will cultivate professional talents with nationally recognized academic qualifications.

Qin Xiangxiang: "..."

Ah, this—this makeshift troupe.

Qin Xiangxiang took the college entrance exam in 1977, and now she has founded a university all by herself and become its president.

This is just too amazing!

After all, sixteen years ago, she never even considered going to university! Nor did she ever think about becoming a university president!

In 1986, the most important thing for Qin Xiangxiang was the implementation of the factory director responsibility system by the state, and the overall group-based reform of Feiyan United Factory and other affiliated industries.

Feiyan Industrial Group was established, with Qin Xiangxiang serving as chairman and general manager.

In 1987, Feiyan Industrial Group became a pilot unit for shareholding system reform.

"Shareholding system reform? What is shareholding system reform?"

"Sell the factory piecemeal?"

"This is a historic opportunity! The shareholding system reform will fundamentally establish a modern enterprise system!"

...

Feiyan Industrial Group, as a highly profitable and representative enterprise in Shanghai, was selected as one of the first batch of pilot units for shareholding system reform. The specific shareholding system reform plan still relied on the "Feiyan Industrial Group Shareholding System Reform Plan" designed by Li Qingfeng and other students majoring in economics and management at Fudan University.

The specific equity structure is designed as follows: 30% state-owned; 25% corporate shares; 25% employee shares; and 20% social legal person shares.

“Every employee, whether senior management or a basic worker, can purchase employee shares. Outstanding faculty and staff of the business school, as well as high-performing business school students, can also subscribe. Other partner companies can purchase corporate shares…”

...

After this design was implemented, many people in the factory were unhappy, feeling, "This is our factory, and you're just breaking it up and selling it off?"

Many workers worry that the shareholding reform will be detrimental to them, or that their share of the profits will be reduced. But in reality, this may be the only chance for many ordinary workers to get rich overnight.

These are original shares!

But many people didn't realize this at the time.

"After the shareholding reform, this factory will still belong to the state and to all of us. We will share the profits and the burdens when there are troubles, and we will overcome difficulties together."

The par value of Feiyan Industrial Group's stock is one yuan per share, and all employees within the group can subscribe to the stock.

Wang Youyou, Yin Pingping, Gao Rong and other former textile factory workers from the island, as well as veterans like Jiang Dayou and Wei Shanhe, all contributed almost all of their savings to buy stocks.

Everyone knows this could be a good thing. Some people are willing to give it their all, while others are conservative. It's like a sieve. In the end, even a difference of 100 yuan in stock can create a huge gap between two families.

During the shareholding reform process, Qin Xiangxiang, through Feiyan Holdings Co., Ltd., a company wholly owned by her, controlled 25% of the corporate shares. These shares will not be traded on the market.

At the same time, Li Jianzhi took out his salary book, and the couple pooled together 50,000 yuan to subscribe to the maximum number of shares that an individual employee could purchase, 50,000 shares.

In the end, the company raised 20 million yuan from employee shares alone.

The corporate shares were subscribed by enterprises under the military region and Hong Kong companies that had cooperation with Pengcheng Special Economic Zone Development Company.

The military region and Pengcheng Special Zone fully support Qin Xiangxiang. In addition, she owns 25% of the shares, giving her more than 40% actual say on the board of directors.

The state holds 30% of the shares, but does not participate in the operation and management; it only receives dividends.

This 40% control is enough for Qin Xiangxiang to achieve absolute control over Feiyan Industrial Group.

In July 1987, Feiyan Industrial Group completed its shareholding reform and officially issued shares.

When employees first received their shares, they were unsure of what use these small pieces of paper could be.

"Could this be a scam?"

The minimum purchase price for stocks is 100 shares, which is 100 yuan. This is the choice of many skeptical ordinary workers, who buy 100 shares to test the waters, even if they become worthless. Some ordinary workers, however, are bolder and go bankrupt, buying 1,000 or even 2,000 shares. Some even borrow money to buy tens of thousands of shares.

At first, they were ridiculed.