Chapter 119: The whole line collapses
All day on the 27th, Chen Qiaoshan was careful.
After all, this time it was a big mess. The Delong Group is not a small character who can be kneaded. He is really worried that his personal safety will be threatened.
Of course, the day was very peaceful. The Peking University campus was as usual, not as turbulent as the financial market.
Chen Qiaoshan was actually a little sure of it. The foundation of the Delong Group is in northern Xinjiang, and it is a new consortium that has only been in the past few years from its birth to its rise. It may not have such great influence in Yanjing.
At the same time, Peking University is not an ordinary place. Not to mention the influence of the school, Guanghua School of Management should not be underestimated.
You can often see an Audi with a license plate leading to the Beijing OA7 in front of Guanghua Tower. Chen Qiaoshan has seen it more than once. After hearing the introduction, he realized that it was the dean's car.
In Guanghua, 7172, like Li Guarantee, became the synonym for the president.
Chen Qiaoshan knew nothing about Yanjing's license plates, but he was popularized after he turned around.
That license plate is distributed by the Central Direct Service, which is nothing to be surprised. Wu Market was the think tank of the previous government, and it is legitimate to receive this treatment with Li Co., Ltd.
The most important reason why Chen Qiaoshan is so confident is that it is not the first time that the Delong Group has fallen into the whirlpool of public opinion.
The senior executives of Delong Group may not have realized that it is now the time for life and death. Perhaps they have known it for a long time, but they have been deceiving themselves.
The first time the Delong Department was questioned was two years ago. Professor Lang from the Chinese University of Hong Kong was the first to fire.
Chen Qiaoshan knew that Professor Lang would be active in the domestic economic circle in the next few years, but no matter how he looked at him, he would not look like a serious economist. After all, whether it was helping people whitewash, standing up for a bag company, or creating momentum for a fraudulent company, it was not something a scholar should do.
The most incredible thing is that Professor Lang actually used his rich financial knowledge to cheat his mistress of 9 million, which was simply a destruction of his views. No wonder there is a saying on the Internet that Professor Lang defeated 99% of economists in the world in terms of sleeping women and raising money.
As early as 2001, Professor Lang posted a document to question the repayment risks of the financing platforms under the Delong Group, but it did not have any substantial impact on the Delong Group at that time.
The result of the incident was unexpected. After the fall of Delong Department in 2004, Professor Lang became famous because of these remarks.
Of course, under the current situation, Chen Qiaoshan would not let Professor Lang be specialized in his beauty. He also tried his best to achieve his goal and risked the cost of being retaliated against, and personally reported to the China Securities Regulatory Commission.
The report was sent out half a month ago, but there has been no reply yet.
Chen Qiaoshan was not surprised at all. If he received feedback, it would be an accident.
Chinese stock investors are the most honest investors in the world, and today's Shanghai and Shenzhen stock markets are the most irregular stock markets in the world.
Many listed companies have not paid dividends for more than ten years. What's more, the same company is listed at the same time as foreign countries. The foreign markets pay dividends normally every year, and the domestic markets do not pay dividends all year round.
Stocks are circulating shares of listed companies. If you buy stocks, you will be shareholders. If you invest money, you will not be paid dividends. How can this be done in the world?
Such a strange thing happened in the domestic stock market, but the China Securities Regulatory Commission has been inactive or turned a blind eye to it.
Chen Qiaoshan had no hope that the CSRC would intervene with a letter of report. He just took the opportunity to create a gimmick to attract the attention of public opinion.
There is no doubt that Chen Qiaoshan succeeded this time.
Nowadays, there are news reports on the Delong Group that have been reported. Fortunately, Sina Finance knows the limit and hides his surname from the news reports. However, Peking University Qiaoshan really made a name in the financial industry this time, and this is exactly what Chen Qiaoshan needs.
The 28th is the weekend, and the day passed peacefully. Chen Qiaoshan knew that this was just the tranquility before the storm came, and the real storm was brewing.
During the two days of the weekend, Delong Group issued three announcements in a row, clarifying that Delong Group did not withdraw funds from Tunhe Shares, but all defenses were pale.
In fact, it is very simple for Delong Group to clear the suspicion. They just need to take out the share delivery records with Weiling Group and the details of the financial transactions. However, they did not do this, which is almost a guilty statement.
The capital market is the most ruthless, and the survival of the strong is the basic rule of survival.
The amount of funds offset by Tunhe Co., Ltd. in Huiyuan transactions exceeded 300 million yuan, and involved hops illegal guarantees of more than 100 million yuan. The net profit disclosed in the company's annual report last year was less than 80 million, which undoubtedly involved concealment and fraud of the annual report.
Chen Qiaoshan understood that judging from the current market expectations, Tunhe Co., Ltd.'s future is worrying.
He waited quietly that tomorrow's stock market is the time to test the phased results. He believed that Tunhe shares are doomed this time. What's more, if the situation deteriorates, the China Securities Regulatory Commission will inevitably intervene in the investigation, and everything will be settled.
Sure enough, at 9:15 on September 29, the stock market started calling bidding, and Tunhe Co., Ltd. had a large number of sell orders. As soon as 9:30, the stock price fell rapidly. By the same 10:00 a.m., the stock price fell by 4%. It took only 15 minutes. Tunhe Co., Ltd. directly plunged and hit the limit.
Today has created another history. This is the first time that the third stock has hit the limit since the Delong Group took over the third stock.
The limit down of Tunhe shares caused a chain reaction. Xiang Torch and Alloy Investment, a subsidiary of Delong Group, experienced a panic selling. As of the close, Xiang Torch fell 4.1%. Alloy Holdings was suspected of having institutional funds entered the market at the end of the trading session, and the stock price rose sharply, with a small quota of 0.4% throughout the day.
Strictly dragged down by the market of the third stock market, the stock prices of seven listed companies held by Delong Group plummeted.
As of 3:00 p.m., the Delong Group's cumulative market value has evaporated by more than 3 billion yuan.
On the night of September 29, a netizen posted on Sina Finance Forum that the CSRC intends to investigate the suspected concealment and falsification of Tunhe Co., Ltd.’s annual report.
In the early morning of September 30, Sina.com released its headlines, and the China Securities Regulatory Commission urgently summoned senior executives of Tunhe Co., Ltd.
In the early morning of September 30, Delong Group issued a statement that all the allegations made by Peking University Qiaoshan against the group were false, and the group intends to file a civil lawsuit against Peking University Kanshan (Qiaoshan) and related news media for wanton slander.
At 9:30 in the morning, Tunhe Co., Ltd. opened at the daily limit. As of noon, Xiang Torch fell 4.1%, and Alloy Co., Ltd. fell 2.1%.
When Chen Qiaoshan saw the news in the morning, he felt relieved. Just take legal measures, but he was really afraid that the other party would be foolish.
At 12 noon, Sina Headlines published an exclusive text message, and Peking University Qiaoshan issued a three-point statement on the accusation of Delong.
First, Tunhe Co., Ltd. is involved in insider trading, illegally misappropriating funds from listed companies, and falsifying annual reports.
Second, Delong is suspected of manipulating the stock market.
Third, Delong Group welcomes legal measures to safeguard its legitimate interests, and also advocates that the majority of shareholders take legal weapons to protect their own interests from losses.
Chen Qiaoshan did not provide detailed evidence this time, and only reiterated at the end of the statement: The three old stocks under the Delong Group, whether the stock price should rise or fall or not fall. This is the best evidence for manipulating the stock price. If you have any questions, please ask relevant economists, such as Professor Yan Zhijie of Peking University School of Economics and Management.
This statement was published on Sina.com's headlines, which also created a history. The three major domestic portals issued personal statements on the homepage for the first time.
As soon as Sina news came out, the market was shocked.
At 13:00 p.m., Xiang Torch opened and hit the daily limit. As of 15:00, the stock market closed, Alloy Holdings fell 7.1%.
At 16 pm, Sina Finance exclusively disclosed that on September 29, qfii bought 300,000 shares of Alloy Holdings at the end of trading yesterday, with a loss of nearly one million in one day.
This is the first time since the stock market reform in the middle of the year that foreign institutions have intervened in the third Delong group stock market, but unfortunately they have not stopped the decline of Alloy Holdings.
As of today's closing, Delong Group's book losses exceeded 6 billion, and its cumulative market value was approaching 10 billion in two days.
On the afternoon of the 30th, Chen Qiaoshan had two professional English classes, and he was always a little restless.
Now things have become a big deal, and the National Day holiday is coming. He knows that he must be extremely careful and no one can guarantee whether Tang Wanxin will be anxious.
As soon as the bell rang, Chen Qiaoshan picked up the textbook and left directly, which made the teacher who was still teaching on the podium extremely dissatisfied.
Chapter completed!