In July 1984, Shanghai promulgated a local regulation - "Interim Provisions on the Issuance of Stocks". Shanghai Feile Electroacoustic General Factory seized the opportunity and was the first to "eat crabs".
On November 14 of this year, with the approval of the Shanghai Branch of the People's Bank of China, Shanghai Feile Electroacoustic Factory, Feile Electroacoustic Factory No. 3, Shanghai Electronic Components Industrial Company, and Industrial and Commercial Bank of China Shanghai Branch The Jing'an branch of the trust company initiated the establishment of Shanghai Feile Audio Co., Ltd.
On November 18, Shanghai Feile Audio Co., Ltd. officially opened at No. 174 Wuyi Road and issued shares to the public and employees. The total share capital is 10,000 shares, with a face value of 50 yuan per share. A total of 500,000 yuan was raised, of which 35% was subscribed by legal persons and 65% was publicly issued to the public, commonly known as "Xiao Feile".
On the day of the stock issuance, many enthusiastic people came early to queue up to buy stocks, and the queue formed an endless queue as far as the eye could see. Feile Audio became the first joint-stock enterprise in Shanghai and the first company in Shanghai to issue shares to the public.
On November 14, 1986, at the Great Hall of the People in Beijing, when Deng Xiaoping donated a Shanghai Feile Audio Company stock with a face value of RMB 50 to John Verlin, chairman of the New York Stock Exchange, "Xiao Fei "Le" shocked the world as "the first stock in New China".
In 1987, Shanghai Feile Electroacoustic Factory was restructured into Shanghai Feile Co., Ltd. and became one of the earliest listed companies in China, commonly known as "Da Feile".
In June 1990, the State Council formally approved the establishment of the Shanghai Stock Exchange, and the stock of "Feile Audio" was transferred to the Shanghai Stock Exchange and was among the first batch of listed companies, becoming one of the "old eight-share stocks" in Shanghai. The establishment and stock listing of "Xiao Feile" marked that the reform of state-owned enterprises entered a stage focusing on property rights.
Above: Fei Yue Li project renderings
Nowadays, with the urban renewal of Wuyi Road, the old site of Fei Le Factory is also being built into Fei Yue Li, a gathering place for modern fashionable and creative industries. The project is led by K. Wah International, and the well-known architect Liu Yichun is responsible for the overall design. It aims to create a composite form of "office + commercial + exhibition space + public cultural space" to form a closed loop of cultural and creative industries in the park. Feile shares and Feile shares will be remembered by Wuyi Road as a special piece of history.
| Pictures come from the Internet and data maps
| Writer: Li Yuanyuan
| Editor: Cheng Qian
| Editor: Yan Wenbin
| * Please indicate the source of reprinting is "Shanghai Changning"
