According to Shandong media figure Yin Bo’s social media report, why has there been no substantial progress in Shandong Taishan’s share reform? If elaborated upon, it could fill a book; if limited to one sentence, it’s because four years ago, under the policy requirement for central state-owned enterprises to divest their tertiary industries, when the former owner transferred shares to the new owner, both parties thought they had understood the matter, but in fact, they did not.
The reporter disclosed that the share reform plan designed by the former owner seemed foolproof, giving 40% of the shares and management rights to the new owner, while dividing the remaining 60% of the shares equally between two small shareholders within its own entity, and offering an additional 5% of equity dividends to the new owner free of charge, along with free use of hardware facilities. Essentially, it’s like adopting out a child, but retaining 60% of the child-rearing costs, while providing free housing and clothing, and even sending red envelopes during holidays. Under normal circumstances, such favorable terms should have ensured a smooth transition of the club to the era of the new owner.
When discussing the reasons, the reporter wrote, “It’s very simple, there’s no consensus on the future positioning and goals of the club, as well as the associated level of investment. One side hopes for higher goals, even if it means becoming a mid-ranking team, it should remain at the top of the mid-ranking league, with the total investment from all shareholders remaining unchanged; the other side believes that as long as the team survives, why spend so much money being a mid-ranking team?”
Additionally, the reporter wrote, “This year’s environment is poor, next year may be worse, there’s still no solution for the debts accumulated over the past four years, and setting high goals for the future would only exacerbate the situation, leaving us even more powerless. Precious time is being wasted in these disputes. The last historical opportunity is thus gradually slipping away from Taishan.”