"..." Seeing Xiang Qiuning resentment and entanglement about her resignation and resignation when she returned to Guangcheng to be turned away, Chen Li asked her to sit in her arms.

Xiang Qiuning had just taken a shower and his hair was half dry. It was lush and black, like black paint, making his skin look more white and delicate, exuding the luster of porcelain, with delicate facial features and brightness. His deep eyes were like deep pools under the dark light.

What is even more heart-wrenching is the plump and unconsciously a trace of fat under her slender neck. It is soft and boneless, full of elasticity and charming curves. It can arouse men's endless desires at any time and indulge in things between men and women.

Chen Li reached into Xiang Qiuning's nightgown and lingered in the charming peaks and valleys.

Xiang Qiuning had just enjoyed it happily. He was not in high spirits at this moment, but he was still confused about the crisis that Xiang Qiang had brought to Nanhua Real Estate. He grabbed Chen Li's hand and prevented him from touching him.

"Forget it, I will issue an announcement tomorrow to announce the reduction of my holdings in Nanhua stocks, so that they can reduce their temperature. The situation may not be that serious," Chen Li took back his hand, hugged Xiang Qiuning in his arms, and said, "We have made enough money this time..."

Xiang Qiang was confused and indulged in the vain glory brought by the title of richest man, and could not get rid of it. He mortgaged his shares in Nanhua Real Estate to financial institutions, borrowed huge amounts of funds and acquired shares of Wanbang Real Estate. The biggest risk was high leverage.

Theoretically, the higher the share price of Nanhua Real Estate, the more funds it can borrow from pledged stocks, but as the leverage becomes larger, the higher the risks it contains.

This risk does not lie in the fact that Xiangqiang has to pay more than 100 billion yuan in interest for the huge amount of funds borrowed every year, but in the fact that Nanhua Real Estate's stock price may fluctuate significantly, resulting in a sharp shrinkage of the value of the mortgaged assets. Once it is below the closing line, Xiangqiang has no other assets to supplement the margin, and the mortgaged shares may be forcibly closed.

Chen Li announced that he would reduce his holdings of Nanhua's stock in his hands, and strive to keep Nanhua's stock price fluctuating within a limited range. On the one hand, even if he turns around and falls in the future, the amplitude will not be particularly steep. On the other hand, he will limit the amount of funds borrowed by Xiang Qiang, reduce leverage, and force him to acquire Wanbang Real Estate shares, so he will not be so radical...

Moreover, with Chen Li taking the initiative, other institutional investments smelled the atmosphere behind it, which not only reduced the attention to Nanhua Real Estate, but also reduced the expectation that Xiangqiang would continue to increase its holdings in Wanbang Real Estate after considering that the amount of funds that Xiangqiang could borrow was restricted, thus suppressing Wanbang Real Estate's stock price.

Since persuasion is useless, then use practical actions to let Xiang Qiang know that it is not possible to just do it.

Of course, Chen Li initially held 5% of Nanhua Real Estate's shares and used 4 billion yuan of funds. At this time, the market value of this part of the stock has risen to 10 billion yuan. From the perspective of pure financial investment, after locking in holding for more than half a year, he should also reduce his holdings and clear his holdings.

Xiang Qiuning thought that this might be impossible, so he asked Chen Li again: "Can Zheng Wenyuan reduce his holdings and reduce Wanbang's stock price so that neither side can tighten the strings of both sides?"

Zheng Wenyuan eventually borrowed 5 billion yuan of funds from Xiang Qiuning, and Zheng Wenyuan ultimately did not raise a quotation on Wanbang, so the shares he held were not subject to the lock-up period and could be reduced at any time.

Zheng Wenyuan increased his holdings in Wanbang Real Estate from the beginning as an independent third party, and then he was unable to sign a joint actor agreement with the trust investment funds and investment companies controlled by Zheng and Han, which were controlled by the two trust investment funds and investment companies behind the scenes, and merged the voting rights.

Zheng Wenyuan borrowed huge capital to increase his stake in Wanbang Real Estate, with the goal of helping Han Zirui and others to gain a certain buffer time. However, Han Zirui and others were slow to move afterwards. It was not until Xiang Qiang's stake in Wanbang reached 15%, so he was in a panic and temporarily suspended the market for a week to find a countermeasure. Zheng Wenyuan did not need to help them lock their positions.

Chen Li summoned Zheng Wenyuan, Xu Yuanzhou, Ding Yang, Huang Chaocheng and others and decided that Chen Li would first issue an announcement to reduce his holdings in Nanhua Real Estate. They would wait until the suspension period of Wanbang Real Estate was over before starting to reduce their holdings in Wanbang's stocks. Of course, whether other institutional investors can be driven to ship and suppress the stock prices of both companies depends on God's will. This is no longer within their focus. Xu Yuanzhou and Zheng Wenyuan have made a lot of money with Chen Li.

Chen Li's stock holdings of Nanhua Real Estate have a market value of up to 10 billion yuan, while Nanhua Real Estate's volume fluctuates at a high level, and the daily trading volume is only more than one billion yuan. If Chen Li wants to reduce his holdings, he cannot finish his holdings in one day. It was also on Monday that he first reduced his holdings of Nanhua Real Estate's shares by 0.5%, and then issued a clearance and reduction announcement after the closing of the trading day, that is, he plans to reduce all the shares of Nanhua Real Estate in three months, and no longer increase his holdings of Nanhua Real Estate within six months after the reduction.

This announcement was still quite shocking. The next day, the stock price directly jumped to three points and opened low, and then fell to a 5% drop, which stabilized the stock price as the trading volume increased. In the following days, the stock price of Nanhua Real Estate fell continuously, and the overall market value evaporated by 20 billion in just one week.

Han Zirui obviously hadn't come up with any good countermeasures, and he temporarily applied to the China Securities Regulatory Commission for a week's suspension, locking the transaction first, not asking Xiang Qiang to continue to increase his holdings; and by the second week, Chen Li continued to reduce his holdings of Nanhua Real Estate's stock and continued to suppress the stock price of Nanhua Real Estate. By late December, Chen Li reduced all the stocks of Nanhua Real Estate. Nanhua Real Estate's stock price was relatively high, down 15%, and the market value evaporated 30 billion in more than half a month.

Chen Li settled the settlement. After deducting the management expenses for Chaoying Investment, he received a net profit of about 4 billion yuan, which gave people the feeling that it was indeed much better than that of industrial enterprises.

During this period, Wanbang Real Estate also resumed trading.

In addition to Zheng Wenyuan and others, many institutional investors also analyzed that the decline in Nanhua's stock price may fall further in the future, which will seriously affect the funds that Xiangqiang can borrow. At the same time, compared with the previous low, Wanbang Real Estate's triple increase was a bit high. In the first few days of resuming trading, it fell with a more fierce momentum.

Zheng Wenyuan, Xu Yuanzhou and others' market value was greatly reduced, but after clearing the position and settlement, they also made a lot of money - Zheng Wenyuan made a net profit of 2 billion after repaying Xiang Qiuning's principal and interest.

This wave of decline in Wanbang Real Estate is actually the best opportunity for Han Zirui and others to increase their holdings in Wanbang Real Estate and open up the gap with Xiang Qiang and others. Even if Han Zirui and others only raised 3 billion yuan in their hands, this is a secret that Xiang Qiang and others don’t know. In this process, Han Zirui can resolutely increase even a 2% shareholding ratio, which may repel Xiang Qiang’s ambition to compete for control of Wanbang.

However, Chen Li had dinner with Zheng Suxin and Lu Chuanxue several times, but the news was that Han Zirui and others felt that Wanbang's stock price was too high at this time. They hoped that Wanbang's stock price would fall by 20% and increase their holdings compared to the high point when it was cut in half.

Chen Li was also speechless in this regard. How could he care about temporary gains and losses in the dispute over controlling equity?

Zheng Wenyuan and the others and a large number of institutional investors chose to significantly reduce their holdings at this time, which has suppressed Wanbang Real Estate's market value from the highest 200 billion yuan to less than 150 billion yuan at this time, which has greatly reduced the cost of Han Zirui and others to reduce their holdings. They still have to be careful of temporary floating profits and losses. It is no wonder that as long as the projects handled by Han Zirui directly compete with Xinchaorui, they will be beaten to no power to fight back.

After all, it is the factor in personality that takes advantage of everything.

Of course, Chen Hai felt that Nanhua Real Estate's stock price was high and decided to reduce its holdings, but in the eyes of many people, it was still reduced to halfway up the mountain.

At the end of December, Huayuan Investment representative Zhao Yuan issued an announcement claiming that he was full of confidence in the future development of Nanhua Real Estate, believing that Xinrui City’s reduction in Nanhua holdings was a completely miscalculation of Nanhua’s development potential, and Huayuan Investment will increase its holdings of Nanhua Real Estate by no more than 5% within the next three months; Yuyuan Investment also issued an announcement claiming that it would continue to lock in the 5% of Nanhua Real Estate’s shares for six months without reducing its holdings, and it is not ruled out that it will continue to increase its holdings.

Nanhua Real Estate's equity is much more concentrated than Wanbang. Xiang Qiang holds 32% of the shares, and other management and founders hold 15% of the shares. Huayuan Investment's share increase ends this time, and the holdings will reach 22%. With Yuyuan Investment's 5% locked shares, these items will lock 74% of the shares.

Therefore, after the two announcements of Huayuan Investment and Yuyuan Investment were slaughtered, and with the influx of large buy orders, the stock price of Nanhua Real Estate quickly stopped falling and rebounded, quickly surpassing the previous high, and the stock price reached a new peak.

From this point of view, Chen Li did not make enough money by selling out 5% of Nanhua Real Estate.

However, Wanbang Real Estate's equity is relatively dispersed. Zheng and Han companies, plus the newly-established major shareholder Xiangqiang, have only locked in 35% of the shares in total. Once the decline starts, it will be more difficult to stop the decline and rebound. However, after Zheng Wenyuan and Xu Yuanzhou and others cleared their positions, Wanbang Real Estate's stock price remained at around 15 yuan in late December, and did not decline further.

During this period, Xiang Qiang did not continue to increase his holdings in Wanbang Real Estate's stock, and Han Zirui and others were a little relaxed in their consciousness.

At the end of December, when the two newly established institutional investments in Wanbang Real Estate increased their holdings by 2% or 3% of their respective shares, under Lu Wenbing's name, Yinghai Investment, which was entrusted by Xiangqiang to conduct the acquisition, announced that the signing of a joint actor agreement with these two investment institutions, means that the shares of Wanbang Real Estate held by Xiangqiang have reached 20%, and on the surface it has become Wanbang Real Estate's largest single shareholder, tying the shareholding ratio of Zheng and Han companies. Even the fourth round of increase cost was only 8 billion, which is much lower than expected.
Chapter completed!