At the end of September 1983, the extraordinary shareholders' meeting and key employee meeting of Xinchuang Electronics Company were held.

Since the company implements the duplication of shareholder and employee identities, all employees may not be shareholders, but all shareholders are employees.

In the case of normal retirement, the deceased shareholder can not let the shares be accepted by his heirs, but can be converted into cash and the company will take back the equity.

The same is true for employees who leave the company. Once you leave the company, the equity you hold will be sold to the company, and no non-company employee is allowed to hold the company's equity.

Although this incentive mechanism retains most of the first-class talents, employees who have achieved results in the company will generally not easily leave their jobs and change jobs, even if their ability can no longer afford important positions, but they can also do some simple work, only obtain the rights and interests of shareholders, and they can also be mixed very moisturizing.

Of course, in this way, the company's performance loss must also be explained to employees, especially key employees who hold equity.

Although, with an extra layer of constraints, Lin Qi can't make any decisions and doesn't let everyone know, but in fact, allowing employees and shareholders to participate in decision-making is beneficial to the company in the long run.

In particular, in the case of a company like a start-up electronics company, talent is the greatest asset of the company in the long run. Gradually let people feel like they are "in charge", which is better than thinking that they are "part-time workers" and have no sense of ownership at all.

This hybrid of capitalist and socialist incentive systems is what has made Huawei a reality. In the 90s, Huawei was not a weak enterprise, and its products could only be low-end products in China, mainly sold to the township market. But in the blink of an eye in the 21st century, Huawei's painting style has changed abruptly, and it has gradually become the world's top technology giant and the boss of the telecommunications equipment industry. This kind of high-tech field can also gain a competitive advantage, which shows that Huawei's incentive system is indeed unique.

For example, later peers around the world were lazy and lazy, and few higher-tech companies worked overtime desperately to stay one step ahead of their competitors. Huawei's internal employees almost regard overtime as the main way to realize the value of life, and talented people can indeed reap huge rewards for their hard work. This wolf-like approach uses interests to motivate self-motivated people to work hard. The end result is that Huawei's people work harder and more tired than their opponents, so ...... Climb to the top of the industry, from a very weak company to the most powerful giant.

The design of the new startup system is not exactly the same as Huawei's, and there are a lot of differences. For example, Lin Qi currently holds more than 98% of the shares and sells 1% of the shares internally every year. It will take more than 90 years to reduce the stake to the extent that Huawei's founder Ren Zhengfei has a stake of 1%.

Therefore, although Lin Qi gives employees the right to know, it is he who really makes the decision. It's just that it is equivalent to an enlightened emperor in ancient times, through early dynasties, twists and turns, etc., so that his ministers feel that they can influence the emperor and thus affect national affairs. In this way, some emperors who humbly accept the good advice of their ministers will be considered Ming Emperors. Mingjun does not need to take into account the interests of the common people, anyway, the "people" are not the common people, but these officials, scholars, landlords, wealthy businessmen and other strata, if these basic plates are stabilized, the situation will definitely not completely collapse all at once. And some emperors who see too thoroughly and are too detached from the ruling class will be abandoned by the ruling class and consider them to be faint monarchs, but the ruling class is centrifuged, and most of these faint monarchs will collapse.

From the company's point of view, the ruling class is naturally these shareholders and backbones, leaving a path to rise, so that the reserve talents have the opportunity to show their talents and be incentivized, which can ensure the company's long-term success.

"It is enough to keep 100 million dollars in reserves, and the rest of the dollars will be gradually sold to those who need them through market transactions. When Lin Qi held an internal meeting within the company, he said to key employees and shareholders, "Reducing the holdings of US dollars every day is not less than 15 million!"

"Boss, do you really do this?" Although, a year in advance, the company exchanged a large amount of cash into US dollars, and even borrowed more than 2 billion Hong Kong dollars in loans. After that, at a cost of less than US$1 to HK$6, more than US$547 million of reserves were returned.

At 1 US dollar to 8 Hong Kong dollars, it can also earn a profit of nearly 1.1 billion Hong Kong dollars. In fact, it is not difficult to exchange 1 US dollar for Hong Kong dollars and repay 9 Hong Kong dollars.

From this point it is enough for the whole company to shout, the boss is wise!

However, if the Hong Kong dollar still plummets after the US dollar is exchanged for the Hong Kong dollar, and foreign investors do not accept the Hong Kong dollar, then the company will lose a lot.

"Of course!" Lin Qi said without hesitation, "Actually, we need to repay 1.1 billion Hong Kong dollars in debt and interest in the short term. In the long run, more than 1 billion yuan of principal and interest will be repaid one after another, and at the current exchange rate, there will be absolutely no loss. In addition, it is estimated that the Hong Kong government will soon resume the linked exchange rate system, and foreign businessmen will accept Hong Kong dollar payments again...... All in all, according to my personal judgment, the Hong Kong dollar is now undervalued, and in the future, after the linked exchange rate system, it will be higher than the current exchange rate! Otherwise, the income generated by HSBC's foreign exchange holdings will not be enough to offset the losses caused by its holding more Hong Kong dollar assets, do you think the government will let HSBC lose money?"

"Definitely not!" Everyone here knows that HSBC's real influence may be above the Hong Kong governor.

HSBC is not only the largest bank in Hong Kong, but also a quasi-central bank, and this quasi-central bank is also a listed company, and the shareholders who hold HSBC's equity are not only traditional British capital, as well as local capital in Hong Kong, but also have a lot of equity held by Wall Street financial capital in the United States.

Through HSBC, we can share a large amount of dividends from Hong Kong's economic growth, how can this capital make HSBC lose money?

Ordinary small and medium-sized banks in Hong Kong, if they want not to lose money, the Hong Kong dollar exchange rate must be about 1 US dollar to 7 Hong Kong dollars, and the interest rate difference earned can hedge the exchange losses. However, banks such as HSBC and Standard Chartered have bought US dollars on a large scale before, although they cannot completely hedge the loss of the depreciation of the Hong Kong dollar, at least, the depreciation of the Hong Kong dollar to 8 will not be a loss.

And taking into account the interests of these big banks, let them make a little money, then, the linked exchange rate between the Hong Kong dollar and the US dollar will not be lower than 8!

As a result, many small and medium-sized banks and financial institutions may fall into losses, which in turn provides opportunities for large banks to merge and acquire small and medium-sized banks.

Therefore, the Hong Kong dollar exchange rate will definitely lose money in the end, but the exchange gains of a few large banks that are prepared can hedge the loss of depreciation of Hong Kong dollar assets.

This judgment was not deduced by Lin Qi himself, but by the financial think tank of the new venture electronics company, through a large amount of information and professional knowledge.

Combined with Lin Qi's fixed exchange rate for the later Hong Kong dollar linked exchange rate system, it is inevitable that there is a bit of a sudden realization. These quasi-central bank-level banks are really awesome and can work out judgments that are beneficial to themselves and weaken their competitors by acting as referees themselves or interfering with the referees' judgments.