However, Fan Wubing also felt a little curious. If Song Yuanping had a lot of corporate stocks in his hands, he could make steady profits and not lose money by waiting for the market to circulate. Why should he take it out and mortgage it to others so uninsured?

From this point of view, there is only one possibility, that is, Song Yuanping and Cui Dingshan have invested too much in the stock of Kangcheng Technology, the plague chicken, so otherwise he would never have taken out such a good thing.

"Could you have invested a lot in Kangcheng Technology?" Fan Wubing asked.

"To be honest, for this stock, I not only dumped all my cash, but also borrowed 200 million yuan from others. If I cannot resurrect myself in a short period of time, the losses of Cui Dingshan and I will be 700 to 800 million yuan. If I don't have to force debts, I will jump off the building." Song Yuanping said bitterly.

Fan Wubing still felt a little suspicious, so he asked, "I see your style, although it is also ruthless, but there is not room for anything to do. Why did he get so deep this time?"

"The main reason is the estimation of the situation. There was a little deviation. My original expectation that the market should have reached a low point and started to move slowly. However, the US stock market is booming now, but the domestic stock market still has not improved much. Except for a few individual stocks, most of them are still silent." Song Yuanping replied, "But I can also conclude that the opportunity will not be too far. At most, within half a year, the market will definitely rise again. At that time, it will be a good opportunity for shipment. So I am anxious to raise money everywhere and start to slowly increase Kangcheng Technology. Then, with some good news, this time, it will be a smooth completion."

After listening to Song Yuanping's analysis, Fan Wubing nodded and thought that this person's general trend analysis was quite accurate. In just half a year, the market created an amazing 5.19 market and began to take the bull market.

The market on May 19, 1999. On the day of the official launch, noon was relatively calm, and a large number of funds flooded in the afternoon. That is, from that day on, the market was bullish for a month. In thirty-one days, the Shenzhen Stock Exchange rose by 90%, and basically all individual stocks exceeded 70% of profits. The reason for this increase was that six policy suggestions submitted by the China Securities Regulatory Commission to the State Council were approved.

The mainland stock market has experienced a consolidation for nearly two years. The market has been in a downward state overall, and many stocks and funds have also fallen below the issue price one after another.

This kind of decline was rare at that time. What should the CSRC do? At that time, there were two views. One view was that it would not interfere. The CSRC only regulates supervision, and the market quality had nothing to do with it. However, after careful investigation, research and analysis by the leadership of the CSRC, it held another view that securities regulatory departments should not let it go in the face of a downward situation. They should be proactive, clear-cut, and resolutely take effective policy measures to promote the healthy development of the market.

In the eyes of the leadership, the capital market is an important part of the socialist market economy. If the market is sluggish, the capital market will not be able to play its role. Only when the market develops can it play its role. In fact, this principle is very simple. If you buy stocks, you will lose money, and if you buy stocks, you will be trapped. Who will buy it?

The market continues to be sluggish, which leads to difficulties in issuing new stocks, which is not conducive to the function of the capital market, supporting the reform of state-owned enterprises, and establishing a modern enterprise system. Investors are generally trapped and suffer serious losses, which is not conducive to improving people's living standards and protecting the interests of the people, and at the same time affecting investors' confidence.

Overall, the development of China's capital market requires correct policy support and correct public opinion guidance. Compared with the developed capital market, the domestic capital market has been established and developed for a short time, and the system, mechanism and legal system are not perfect enough. If it is not actively improved, it cannot promote the healthy development of the market.

Therefore, after weighing the pros and cons, the CSRC felt that the government could not use policies to guide and support the stock market, which was really not suitable for domestic situations, so it introduced six major policies to detonate the May 19 market.

According to the current policy trend, the submission and approval of this policy will obviously be repeated, so Fan Wubing does not doubt that the 5.19 market will appear like the history he is familiar with. It may have different time, but it will definitely not be too different. After all, the stock indexes of the two markets have been consolidating at a low level for two years, and have reached the critical point that should explode.

From the other hand, it is impossible for the world to have a stock market that only falls but does not rise. That would be too evil. The government would never let this happen. After all, the stock market is a barometer of the national economy. If the stock market is always in a dark state, then the government's face problems are not good. In any case, the rise will definitely explode.

"The legal person stock nodded without hesitation, thinking that the value of such a thing is difficult to estimate, so he asked, "Which company's legal person stock is it?"

"Xiang Torch, 20 million shares." Song Yuanping said to Fan Wubing.

Although Fan Wubing knew that the chips in Song Yuanping must be very valuable, when he heard him say that this was Xianghuoju's legal person stock, he couldn't help but be stunned for a moment, and then he was a little surprised.

Xiang Torch, one of the three troops of the Delong system, I really didn't expect that Song Yuanping had 20 million shares of Xiang Torch in his hand. This person really made Fan Wubing look at him with admiration. He didn't expect that he actually took Tang Wanxin's tailwind chariot.

Tang Wanxin, a representative of the Delong Group, who is very influential in the domestic capital market, made his fortune from the Shenzhen subscription certificate incident. At that time, he spent money to hire 5,000 people and took the train from Urumqi to Shenzhen to queue up to receive the subscription lottery form. Each of these people had a small wooden stool, and they lined up to receive 50 yuan in labor fees a day. One row was for three days. The lottery form he received was exchanged for original shares, which made Tang Wanxin make a big profit.

Xinjiang Delong Industrial Company, which he and his elder brother Tang Wanli and others, specializes in stock operations in the capital market. They acquired large quantities of original shares and internal employee shares of state-owned enterprises in northwestern provinces such as Xinjiang and Shaanxi, either reselling them to financial institutions in Xinjiang, or waiting for the market to sell them to cash out.

However, unlike other dealers, Tang Wanxin has his own business ideals. In his opinion, the global industrial structure is undergoing a huge evolution, and China is undoubtedly the most important part of it. Many traditional industries have opportunities to rapidly amplify. However, due to the backward system and concepts, most Chinese companies have small models, diversified investments, and no competitiveness. Therefore, optimizing and integrating them through capital management and revitalizing existing stocks will be the hope for the Chinese-style economic takeoff.

By purchasing legal person shares, Tang Wanxin became the largest shareholder of the three municipal companies, Tunhe, Chenyang Alloy and Xianghuo Torch, forming the so-called "three horses" of the Delong Group.

Then, the three old state-owned enterprises were implemented according to their own business philosophy. Taking Xiang Torch as an example, this enterprise was originally just an old enterprise producing spark plugs. Tang Wanxin proposed the big auto parts strategy. First, he acquired 75% of the equity of the largest importer of the United States brake system T Company and its nine joint ventures in China, thus gaining a certain share in the US auto parts import market. Then he controlled a car gear company in Shaanxi and became the bank's professional leading domestic enterprise. Immediately afterwards, Xiang Torch issued announcements one after another, and had various reorganizations and joint ventures with Dongfeng Motor, Shaanxi Automobile Group, and Heavy Duty Truck Group. Finally, Xiang Torch owned more than 50 subsidiaries, becoming the largest enterprise in the three industries of China's gear, spark plug, and military off-road vehicles. At the same time, it is also the second largest manufacturer of air conditioning compressors and the largest exporter of automobile brake systems.

Of course, Delong needs a lot of money to complete this series of mergers and acquisitions. Where does the money come from? Then he has to rely on the banker to speculate.

Delong's skills in positioning are actually very simple. Tang Wanxin raised the stock price step by step by step by continuously releasing good news and integrating and reorganizing concepts, and then made profits from it. Since 1996, the stock price of Delong's "three horses" has begun to rise all the way, and the Delong Group has exploded even more wildly, running wildly in the Chinese stock market, setting a record of soaring tens of millions of stock investors.

Later, after three share allocations, after re-rights, the stock price of each share rose from 7.6 yuan to 85 yuan, and the alloy shares rose fifteen times. Xinjiang Tunhe also gave shares several shares, and the stock price after re-rights rose eleven times.

The three stocks controlled by a dealer rose tenfold within five years, and the whole country looked at him, and no one else was there. Delong therefore became the most prominent name of the world's number one dealer. So for a long time, the stocks were not good, and they were famous when they were virtuous, and they were not afraid of high prices. They became effective when they were high, which almost became the only way for Chinese investors to make money. Delong's dealer made a total profit of more than 5 billion from such dealer activities.

"You have cooperated with Tang Wanxin?" Fan Wubing calmed down and asked Song Yuanping after he calmed down.

He originally thought that Song Yuanping was fighting alone, but he didn't expect that Song Yuanping could cooperate with the more fierce dealer Tang Wanxin, and he also controlled the 20 million legal shares of Xianghuo Torch, the leader of the Delong system's three troops. It was a bit unexpected.
Chapter completed!