Today, the dispute over Gome's equity is about to have a preliminary statement: the Gome shareholders' meeting, which is in full swing, will vote to decide the outcome of the dispute between Chen Xiao and Huang Guangyu. It should be said that Chen and Huang probably didn't expect to come to this day at first. At the beginning of the war, one took advantage of people's danger to stage a good show of forcing the palace, and the other took sadness as the main theme and set off a wonderful Jedi counterattack. The purpose seems to be to expect the intervention of "non-market factors" and help them overwhelm their opponents and become the upstart who dominates Gome with high-sounding excuses such as "national brand", "image protection" and "overall interests". When the balance between Chen and Huang is difficult to break this round, the two sides turned to the battlefield of public opinion, and a good show of "national brand image" and "bottom line of business ethics" was vigorous and has not been extinguished so far. However, unlike similar incidents in the past, this time, "non-market factors" seem to have taken a detached stance and have basically been inseparable bystanders. Although public opinion is highly concerned and actively voiced, it has not completely stood on one side and criticized the other. Finally, it's the market's turn to make a decision: all shareholders' meeting, all shareholders present at the meeting, one share and one vote, which is at least the fairest and most in the interests of shareholders from the perspective of capital and market. From the long-term stalemate between Chen and Huang, it is not difficult to see that at the level of the board of directors or major shareholders, Chen Xiao and Huang Guangyu are basically in a state of balance, and no one can easily overwhelm each other. In this way, the vote of minority shareholders may become the last straw to crush the camel. In fact, before the start of the election campaign, both sides realized this. The first retail investor who arrived at the meeting suddenly increased his holding of Gome shares by 65,438+06,000 shares before the meeting, hoping to have the right to speak as much as possible, so that his demands can be better expressed. This is a direct reflection of Chen Huang's "psychological warfare" effect. At present, Huang Guangyu seems to have the upper hand in "psychological warfare". According to the online boasting, it seems that there are obviously more people who think that Chen Xiao is "excessive" and "immoral" than those who support Chen Xiao's "forced palace". However, when both sides of the struggle attach great importance to the struggle for the commanding heights of public opinion and morality and are bent on winning the Tianwang Mountain of righteousness, "people will run counter to it." More importantly, the voting at the shareholders' meeting is not characterized by one person, one vote, but one share, and the tradable shares themselves can also be bought suddenly in the stock market. No matter how turbulent the public opinion is and where the moral balance falls, "the more you share, the better" is the yardstick of equality. As can be seen from the stock market trend in recent days, Gome's share price has a huge amplitude, and its trading volume has even been enlarged by 10 times. This fully shows that although newspapers and networks are lively, they are at best secondary battlefields, even feints and smokescreens. As veterans of the capital market, both Huang and Chen know where the real focus is. Although it may not be satisfactory, it is a progress in the process of marketization to let the market decide the success or failure of equity competition. What is worrying is that although the voting result can determine the outcome, it may not end the dispute between Huang and Chen. No matter who wins or loses, the loser still holds considerable equity and the right to speak of the board of directors. If you choose not to cooperate in the board of directors, Gome's decision-making and reaction mechanism will be passivated; Once the loser decides to retreat and leave, Gome, a behemoth, is bound to face the danger of "slimming" or even splitting into two. In recent years, Gome is in an increasingly unfavorable situation in competitive sales, and the upgrading of internal friction is a very important factor. Whether we can quickly give a game of chess to the battle of Huang Chen and let Gome go into battle lightly is probably the most common expectation of the majority of minority shareholders and onlookers for Gome and this shareholders' meeting.