The lack of a sense of crisis is the greatest crisis.
From 1982 to 1992, Chongqing established its first packaging industrial company with administrative management functions. In 1983, the Red Flag Carton Factory under its umbrella (later converted to a state-owned enterprise and renamed Huaya Paper Industry for listing) took the lead in introducing Japanese-made printing slotting machines and five-layer corrugated cardboard lines, taking control of the technological high ground and leading the market for ten years, thus gaining the first pot of gold after the reform and opening up.
From 1992 to 1999, collective township enterprises successively purchased domestic production lines and printing slotting machines, dividing the market with the state-owned enterprise group led by Huaya. Although after 1994, Huaya introduced more advanced wide-width double-arch seven-layer lines from the United States and raised hundreds of millions of yuan in the stock market, the drawbacks of the state-owned system in corporate development strategies bound people's hands and feet, preventing advanced technology from being fully utilized, resulting in a large amount of asset loss, leaving Huaya with no advantage to speak of. From 1999 to 2004, a large number of collective enterprises completed private shareholding reforms, greatly increasing their vitality, then carried out technological upgrades and equipment updates, achieving comprehensive rapid development. As one side rose, the other fell; Huaya, as the "last aristocrat," finally fell into the tragic situation of ceasing production and giving up the entire market, which became an ironic twist on its strategy of "giving profits to capture the market."