This game started because both sides have certain moral and capital resources.
From Huang Guangyu's point of view, his moral resources include three aspects: Gome was founded for itself, which has the natural legitimacy of rule and is recognized by China's traditional consciousness; Created a glorious history, and its strategy once dominated the world; Attacking Chen Xiao has no morality, and it is a "villain" who hits people when they are down. The disadvantage is that Huang Guangyu is accused of being overbearing by the emperor and sacrificing the interests of listed companies by means of capital occupation and cash withdrawal. More realistically, Huang is still in deep trouble. How does he control the company and lead its development? In terms of capital resources, Huang Guangyu owns about 34% of the shares (even if Bain decides to convert debt into equity, the shareholding ratio is about 30%), and there are more than 400 unlisted stores. It is reported that Zhang Dazhong and Chaoshan Enterprise Group will provide financial support.
On the other hand, Chen Xiao's moral resources are mainly concentrated on Huang Guangyu's performance after the accident. He personally led the company through the most difficult time, introduced funds to prevent Gome's capital chain from breaking, and his performance was also good, with a substantial year-on-year increase (although Huang Guangyu's family accused him of closing the store and falsifying his performance), and at the same time established a low-key, rational and convergent professional manager image. Its disadvantage is that in the case of the merger of large and medium-sized enterprises, under the guidance of "orthodox" culture, the public has obvious moral prejudice against its behavior. In terms of capital resources, Bain Capital fully supports it, with a small number of shares, joint executives and suspicious "golden handcuffs".