Chapter 1170 [Market confidence returned overnight]
Faced with Zhang Qi's precise words, General Manager Wu was speechless for a moment. He sighed bitterly and said: "I understand these truths, and there is no better choice besides this."
"Everyone who knows your grievances and contributions knows that the greater the sacrifice, the greater the reward will be in the future. If you can be downgraded three levels in a row, you may not be unable to jump three levels in a row when you are promoted in the future." Zhang Qi comforted him and emphasized at the same time.
: "You have to be patient and determined. As long as you don't turn the situation into a deadlock, when the time comes, revitalizing it is a matter of flipping."
General Manager Wu nodded and sighed again. After calming down his emotions, he said: "But there must be a reasonable reason for dismissal and demotion. What is the good reason?"
Zhang Qi, who was standing aside, lowered his head in thought and remained silent. After a while, he looked at General Manager Wu again: "The state-owned assets have been lost."
Hearing this, General Manager Wu nodded understandingly: "This is reasonable."
Not to mention that WeChat is a subsidiary of Qunxing, Qunxing’s shareholder structure includes five major Guojia teams. As far as WeChat is concerned, its second largest shareholder is China Unicom. This incident of illegal holding reduction by WeChat’s major shareholder caused the company’s stock price to plummet.
There is nothing wrong with saying that state-owned assets will suffer heavy losses if they are cut in half.
…
After General Manager Wu finished the conversation with Zhang Qi, he returned to the SGX headquarters and hosted a meeting in person.
At the meeting, he conducted a profound self-examination, self-criticism, and self-reflection, saying that as the top leader and the gatekeeper of SGX, his work was not solid enough, his understanding was insufficient, and he was derelict in his duties, which severely damaged the SGX.
authority and credibility, causing investors in the market to suffer heavy economic losses and losses of state-owned assets...
All the participants were stunned, and some even found it unbelievable and even caught off guard.
Reading between the lines, the top leader had taken over all responsibilities. This made all the subordinates present at the meeting confused, but they were deeply shocked. They even speculated in their hearts whether General Manager Wu's earth-shaking change was due to self-awareness or whether it was due to self-awareness.
What force majeure factors were encountered...
Everyone is more willing to believe the latter, but of course no one would be stupid enough to say it at this time. On the contrary, many participants saw that the top leader took all the responsibilities, and they couldn't really let the top leader take all the responsibilities.
So the participants present also quickly followed suit and conducted self-examination, and their awareness suddenly arose.
After the meeting, it will be reported directly.
This matter soon spread like wildfire as if it had wings. It became the biggest news event in the capital market that day. The media rushed to report it. As soon as the announcement from the SGX came out, the market exploded again.
Investors were also confused, and it triggered heated discussions and reposts in major stock forums and communication groups.
[Ah this...]
[Incredible, I never expected it...]
[Woc! Is it true or false? Is this fake news? I don’t believe it, it’s impossible, absolutely impossible!]
[I was also shocked, and I thought it was a joke by netizens, but it was indeed true. I went to the SGX official website to look at it, and the summary of the notification was posted on the official website. It was clearly written in white and black.
This couldn’t be truer.]
[Good guy...]
[Who could have imagined this? I never expected that there would be such a huge reversal.]
[Could God K take action?]
[It’s hard to say, but God K just posted a Weibo, and this is a turning point. It’s hard to say.]
[Haha, why do I think he raised his hand to WeChat because he wanted to please the boss, but he opened it in the wrong way and caused a big trouble. Now he realizes that he has caused trouble, so he has this amazing turn.]
[I knew that God K had not betrayed, and it was impossible for him to do so, and there was no reason to do so.]
[Are you going to step into the game to protect the SGX?]
…
As time went by, amidst the commotion in the capital market, the SGX issued another major announcement late at night.
The formal results of the illegal reduction of holdings by WeChat's major shareholders have come out. The SGX has dealt with it seriously in accordance with laws and regulations. WeChat will be listed as ST shares with immediate effect, becoming the first listed company on the SGX to wear the ST hat.
After being listed as ST shares, they are not allowed to be decapitated in the next two years, and are not allowed to refinance within three years. At the same time, they will be removed from the NSE 50 Index constituent stocks when the market opens on the first trading day after the holiday, and will not be included in the NSE 50 Index in the next five years.
.
Major shareholders who reduce their holdings in violation of regulations must also be severely punished in accordance with laws and regulations.
In addition, the announcement also disclosed a major piece of news. The current top leader of SGX has voluntarily submitted his resignation, and the second top leader will temporarily take over related work matters.
General Manager Wu made a quick decision and dealt with WeChat seriously according to the procedures before letting the second-in-command take over his job. Firstly, he did not want to leave this hot potato to the second-in-command, and secondly, he did not want anything to go wrong again. At this time, it was really
There can be no more mistakes.
Besides, the second-in-command is not stupid. If General Manager Wu doesn’t make a decision on WeChat, the second-in-command will beat him to death and not dare to take over this hot pot. Even if he would rather offend General Manager Wu completely, he will never do it.
Yes, so the WeChat matter must have a definite result from General Manager Wu.
The heavy announcement issued by the SGX late at night caused a huge shock in the capital market. Many people were extremely shocked and shocked when they saw the news. Until now, they had never thought of the first case of illegal shareholding reduction of a listed company on the SGX.
Not only was an Internet giant with a market capitalization of trillions in value banned from ST for two years, prohibited from refinancing for three years, and excluded from the SGX 50 index for five years, it also included the first chief executive of the SGX.
.
No matter how serious the outside world expected it to be, no one thought it would be this severe.
The next day, the three-day May Day holiday officially began, and Big A also closed for the holiday. The market confidence of the SGX was directly rebuilt, and all the confidence that had been lost was restored overnight. Before the holiday,
People who have intervened in bargain hunting have dared to pop open champagne at halftime to celebrate eating big meat after the holidays. This time, they are not afraid that popping champagne at halftime will overturn the situation.
Investors' confidence in SGX not only returned overnight, but was also firmer than ever before, because this time the confidence was rebuilt with the sacrifice of a giant with a market capitalization of trillions and the sacrifice of SGX's top leader.
cost.
Another suspense now is how to deal with the major shareholders who illegally reduced their holdings, but the top leaders of SGX are involved. Judging from this point alone, its intensity will definitely not be small, and it can even be liberalized to increase the amount.
OK.
"This time it was really a serious misjudgment. I have to recover when the market opens after the holiday..." A trader from an investment institution said with a bit of amazement. His colleagues around him couldn't help but said: "Looking at the current market sentiment, confidence is really
It is visible to the naked eye that it is recovering, and this intensity has set a precedent that has not been seen in A-shares in the past 20 years. Even now, I am deeply shocked when I see this news."
The trader nodded and said: "After this incident, the authority and credibility of SGX have been unprecedentedly consolidated. It can be called a trustworthy person. No matter who takes over, the top leader of SGX will not dare to cross the line. The size of listed companies has changed."
I don’t dare to cross the line. Whether it is from a personal emotional or rational perspective, this time I am really optimistic about the future of SGX beyond expectations. What Fang Hong said before about the ten-year bullish growth is no lie."
