The weather is sunny and the stock market is cloudy.
Changchun Biotech has reached its fifth limit-down, and its market value has fallen by 41% compared to before Monday.
"A million-hand closing order! Why the hell didn't you even give me a chance to leave the market?"
"Yao Shou! This is the rhythm of falling directly to ST!"
"Haha! Don't talk about ST, I believe in forced delisting!"
"Delisting? No way, that would be the first A-share in Dahua to be delisted due to major violations..."
"Delisting or not is not something we should consider, but does this count as a misrepresentation by a listed company? Can shareholders with heavy positions demand compensation according to law?"
"Compensation according to law? I guess the person upstairs was hallucinating."
"Alas! Life is patchy, and the stock market is squandering money..."
Countless frustrated investors are wailing, tomorrow is the weekend, but they have no hope of getting out of their trap.
As the details of the case are revealed one by one, the chairman of Changchun is detained, and Changchun Biotech's stock will be suspended from ST trading soon, and will continue to fall to the limit...
Xu Group.
"Mr. Xu, so far, we have lost 370 million yuan. I'm afraid it won't be good if this continues..." Cui Jizhong said worriedly.
"I can count!" Xu Jinsong said with a gloomy face.
It's one thing to have a vague guess, but it's another thing to watch things worsen.
According to the current way of decline, if the 900 million they invested can come out with one or two billion, it will be considered a high price. The worst case scenario is that they will lose all their money.
The huge book losses were one thing, but the criticism from the old guy Xu Boli was the bigger problem he had to face.
With such a huge loss, it must be impossible to hide it.
Although Xu Boli and his son have been temporarily fed by an investment department, there is no guarantee that Xu Boli and his son will not attack again after receiving the news at the next board meeting.
"What's the situation over there in the Qinling Mountains now?"
"According to the news from the top, the situation is quite optimistic. The struggle between the top and the local government on this matter is not a day or two, and it is not something that can be changed by a little change.
At present, project construction has resumed." Cui Jizhong reported.
There are more than a thousand illegally built villas. With such a huge movement, how could the higher-ups not know what is going on?
The reason for the delay has to do with national conditions...
Xu Jinsong breathed a sigh of relief after hearing this.
A bad news and a good news, at least it won't make you miserable on both sides.
As long as the project in the Qinling Mountains is completed and we seize the time to take action as soon as possible, then this sum will be settled.
I don't know why, but after this incident was revealed, he always felt a little anxious, always feeling like something was going to happen.
"Tell the person in charge over there to hurry up and complete the project as soon as possible, and then find a few marketing agents to sell the villa over there as soon as possible!"
"Okay, Mr. Xu." Cui Jizhong nodded, then said with some hesitation.
"One more thing is that a large amount of funds in the stock market are locked up. Although our liquidity will not be exhausted, it will be quite tight.
The investment plan for the second half of the year may be affected. Do you think we need to ask the Strategy Department to slow down some expansion..."
The Xu Group originally had more than 2 billion working capital in its books, but this time it was robbed of less than half, leaving only more than 1 billion.
More than one billion may seem like a lot, but for the huge size of the Xu Group, it is already walking a tightrope.
However, Xu Jinsong categorically rejected Cui Jizhong's sound suggestion.
"No! Once the company's strategic investment slows down, it will tell the outside world that Xu's operations are indeed experiencing difficulties.
Xu Boli and his son had more excuses to question my abilities, and we became even more passive on the board of directors.
Therefore, we must not slow down our strategic pace, we can only find ways to raise funds!”
"But... our debt ratio is already very high. Although the bank still has a part of the loan line, this money has already gone somewhere.
If corporate bonds are issued for financing, the board of directors' approval is required, which will also raise questions from the outside world.
After all this calculation, there is still a funding gap of several hundred million..."
Although the current real estate situation is grim, at least there are no three red lines.
Under the crazy expansion model of developers who borrow chickens to lay eggs, current real estate companies are basically "circling money with one hand and land with the other", and the capital turnover rate has reached the extreme.
Under such circumstances, it is not that easy even with the capabilities of the Xu Group to suddenly generate nearly one billion in funds out of thin air.
"Ha! Didn't you forget that the group just acquired a P2P company recently?"
"This...Mr. Xu, do you mean to use this P2P company to finance yourself?" Cui Jizhong's eyes widened.
P2P, which is the abbreviation of peer t, is person-to-person, also known as peer-to-peer network lending.
It is a private small-amount lending model that gathers small amounts of funds and lends them to people in need of funds.
It is a type of Internet Finance (ITFIN) product.
What Cui Jizhong calls self-financing is to turn the person-to-person intermediary business into financing for oneself or in disguised form.
"Mr. Xu, I'm afraid there are some risks in doing this, right?" Cui Jizhong frowned.
Regarding platform self-financing, although the country currently has no clear legal definition, it is generally believed that self-financing platforms are very likely to violate the crime of illegally absorbing deposits and setting up financial institutions without authorization under the criminal law.
Because the P2P platform is self-financing, it is equivalent to borrowing money from itself, and the risk control is in vain. The repayment ability review, mortgage guarantee, etc. are just a formality, which can easily lead to overdue or bad debts.
And when bad debts occur, all safeguards fail to have any practical effect, often causing investors to lose their money.
Therefore, P2P platform self-integration is completely playing on the legal sidelines.
It's okay if nothing happens, but if something happens, the Xu Group will probably be in a lot of trouble.
Although P2P was originally intended to suppress loan sharking and promote private financing, the profit-seeking nature of capital has turned it into an out-of-control beast.
In order to attract more funds, it is quite common for P2P platforms to have an annualized rate of 10%. Many small and medium-sized platforms are still raising interest rates, and in the end they can only borrow new and repay old ones.
This "tear down the east wall to repair the west wall" model is completely a different kind of Ponzi scheme.
From 2017 to 2018, although there are still a large number of P2P financial companies active in the market, many companies have actually experienced thunderstorms one after another.
Now that asset management is becoming stricter, Xu Jinsong is suspected of going against the trend.
"Our Xu Group can still bear such a small risk!" Xu Jinsong didn't take it seriously.
Seeing that Cui Jizhong wanted to say something else, Xu Jinsong interrupted him directly.
"No need to say anything, just do as I say."
"This...is!" Cui Jizhong could only nod in agreement.
"elder brother!"
At this moment, the door was pushed open, and Xu Jinfeng, wearing a black motorcycle leather jacket, walked in loudly.
Seeing the other party's appearance, Xu Jinsong suppressed the disgust in his heart.
"Why are you here? I'm busy today and I don't have time to accompany you."
"Brother! I don't want to come either, but for the movie investment you promised me, Cui...Uncle Cui always makes me wait, wait, how many days have I been waiting? I'm not in a hurry!"
Xu Jinfeng said and glared at Cui Jizhong.
Cui Jizhong could only smile bitterly.
When Xu Jinsong heard this, his eyes suddenly darkened.
Stupid brother, you probably don’t even know my current situation, so you are still here to cause trouble for me?
Movie investment?
Do you really think that all money comes from the strong wind?
Xu Jinfeng obviously hasn't learned how to "observe words and emotions" yet, and is still talking about his own ideas.
"Brother! You don't know, my brothers and I have met with many producers these days and have been so busy that we finally found a great movie script!
Big writers, big investment, big scenes, all the big names hired, it's definitely a big production!
Even Mr. Hong praised us for our unique vision and said he would participate in the investment with us.
Brother! This movie is guaranteed to make money. You can invest in it with confidence. I dare not say if it is more than a dozen times, but if it is four or five times, it is definitely not a problem. If you encounter it, it is like picking up money!
There is no shop like this after passing this village!”
Xu Jinsong's eyes twitched.
Picking up money? Do you think everyone in the world is like you and can pick up money from me just by opening their mouths?
Although I really wanted to give this stupid Ou Doudou a slap in the face, Xu Jinsong was, after all, deep enough and managed his expression well.
He patiently showed a kind smile.
"Haha! Since Mr. Hong wants to participate in the investment, I think the movie is really good. Well, within 10 days, 200 million yuan of funds will be received."
Cui Jizhong frowned slightly when he heard this, but this was Xu Jinsong's decision, so naturally he couldn't say anything.
"200 million?" Xu Jinfeng seemed to feel that the money was too little and curled his lips.
"Ahem! Mr. Xu, the group has not been rich in funds recently, and there are many investment projects. After all, this is your first time investing in a movie. 200 million is enough to test the water, which is already a lot." Cui Jizhong said quickly.
"Well... okay then." Xu Jinfeng gave up with some reluctance.
"Okay, okay. When the company has free funds, I will definitely increase my support for your movie. That's alright."
"Hehe! This is what you said."
"I said, okay, I'll take you out. Don't go to the company dressed like this in the future. After all, the impact will be bad.
By the way, what’s the name of the movie you’re interested in?”
"Oh! It's called "Fortress", it's a super hot science fiction film, there's definitely a market for it!"
"Hmm! That sounds good."
"..."
"Kacha!" The office door opened.
Xu Jinsong personally sent Xu Jinfeng out with a doting look on his face. In front of outsiders, they looked like a pair of good brothers with deep feelings.
Everyone knows what kind of virtue Xu Jinfeng is, and for Xu Jinsong to be able to protect his younger brother in this way, he has earned a good reputation as a respectful brother.
But today, the atmosphere outside the office feels a little off, a little... too quiet?
Before he even reached the elevator, Xu Jinsong frowned.
The strange eyes and pointing fingers along the way...could it be my misunderstanding?
"Manager Wang, come here!"
Cui Jizhong seemed to be aware of Xu Jinsong's unhappiness and immediately named a manager.
A middle-aged greasy man walked over anxiously.
"Mr. Xu, Mr. Cui, Mr. Xu!" He nodded and bowed.
"What's going on? What are you mumbling about during work hours?"
Cui Jizhong pointed at a few female white-collar workers who were whispering in the distance. They were so frightened that they immediately separated and fell silent.
"This... this..." Manager Wang sweatdropped from his forehead.
"Say!" Xu Jinsong drank with a cold face, which made Manager Wang tremble in fright.
"Yes... there is a rumor about Mr. Xu on the Internet!"
"Huh? Rumors about my brother?" Xu Jinfeng suddenly became interested.
Is it peach gossip?
Xu Jinsong frowned.
rumor?
Another rumor?
Could it be Xu Boli's old coin again?
Ha! Do you want to use the same move on me a second time? Are you underestimating me, Xu Jinsong?
"This... Young Master, please... please see it for yourself."
Manager Wang didn't dare to answer at all, so he could only take out his mobile phone with a grimace.
Before Cui Jizhong could pick it up, Xu Jinfeng snatched it over.
With a flick of his finger, Xu Jinfeng's expression changed from excitement at first, to shock at the end, to disbelief at the end, and he looked up at his brother with an extremely complicated expression...
"what happened?"
Xu Jinsong felt something was wrong in his heart.
But in front of outsiders, he still maintained his expressionless workplace mask and took the phone calmly.
However, half a minute later...
Xu Jinsong's expression management is completely out of control!