At 8:30 in the morning, a piece of information exploded across the financial sector, sparking a heated debate on Weibo. It was a confession of financial fraud from a company called Baiyao Biological.
Of course, this company was a Heavy Position Stock of the Shengyuan Group.
No company is completely devoid of issues. If you have even the slightest problem, a force at the level of Zhongyi Tang can unearth it.
The confession didn't go into much detail, rely laying out various financial fabrications. The company was now under investigation by the relevant departnts.
You know, Baiyao Biological had a trillion-level valuation. It was considered a star stock. And it turned out they committed financial fraud?
It's like this: if an ordinary person swears or gets into a fight on the street, at most they spend a few days in jail, get out, and that's the end of it. But if it's a public figure, their future is over.
"Mr. Chen, have you seen the news on Weibo?"
In Shengyuan Group's office, one of Chen Hong's subordinates held out a tablet.
Chen Hong asked in confusion, "What news?"
"Take a look and you'll see!"
Soon, Chen Hong began to look through it. Baiyao Biological's confession of fraud was very straightforward, with everything clearly explained.
After reading it, Chen Hong faintly felt that this was no accident. Could it be that Luofeng had made his move? After all, I just made that Great Demon King video to prank Luofeng. And just one day later, he retaliated?
Chen Hong imdiately called the company's general manager. "Manager Wei, how much of Baiyao Biological does Shengyuan Group hold?"
"A total of 1.9 billion in funds," Manager Wei said.
"Find a way to deal with it!" Chen Hong ordered. "I rember this capital is our own, right?"
Shengyuan Group had substantial proprietary funds, totaling around 13 billion.
"Yes!"
"Since it's our own money, let's cut our losses decisively. Resolve this capital issue as best as possible, even if it ans accepting a larger loss!" Chen Hong said. "By the way, regarding our stock market investnts, unless they are in companies we know thoroughly and are certain are without issues, or whose issues are impossible to find, sell off all other stocks!"
Chen Hong had witnessed Luofeng's incredible ability more than once: his knack for digging up a company's dirty laundry and using it as a point of attack.
So, to deal with Luofeng, their invested companies needed to be unassailable, leaving Luofeng no angle to exploit.
Chen Hong had now adopted a defensive stance.
「Nine o'clock sharp.」
The Daxia stock market opened.
However, Baiyao Biological, after the pre-market auction, had just opened for trading when its price plumted from thirty-five bucks to 31.6 yuan.
It was a drop of about ten percent, hitting the circuit breaker limit. Shengyuan Group held a large amount of the stock, but even if they wanted to cut their losses, they couldn't because the circuit breaker had halted trading.
Over at Fengshun Investnt Company, they imdiately began to spread rumors. They turned Shengyuan Group's attempt to reduce its Heavy Position Stocks into a lead story. The rumors suggested that Shengyuan Group was rushing to divest because those companies might also have issues, possibly even financial fraud. Otherwise, why the sudden urgency to reduce their holdings?
Because of this, Shengyuan Group's plan to reduce its holdings in these Heavy Position Stocks also failed.
After all, without buyers, how could they reduce their holdings?
Luofeng was in the library. At that mont, he received a call. A slight smile touched his lips as he answered.
"Brother Feng, good afternoon!"
Chen Hong was as courteous as ever.
"Hello, Brother Chen Hong!" Luofeng replied politely.
"Is the Baiyao Biological situation your doing?" Chen Hong asked.
"The Great Demon King in the shadows is just playing a little joke on Brother Chen Hong!" Luofeng replied.
"Heh, I'm quite curious, Brother Feng, what thods do you use? How do you dig up information on these companies?" Chen Hong continued. "Indeed, Baiyao Biological is one of our Heavy Position Stocks. That's confidential information for our company. Could it be that Brother Feng has really bribed soone from our company?"
"Guess?" Luofeng said mysteriously.
"What's your plan for this round, Brother Feng?" Chen Hong asked.
"Actually, I should be asking you that. I've already tried to let things be, haven't I?" Luofeng replied.
"Brother Feng, have you ever been jealous of anyone?" Chen Hong asked.
Luofeng considered it.
He truly hadn't been jealous of anyone. Young and successful, with no insecurities. His girlfriend was very pretty, he had plenty of money, was in good health, and handso. Who could he possibly be jealous of?
"I don't think there's anyone I'm jealous of," Luofeng said.
"..." Chen Hong was sowhat speechless.
"I really envy you, Brother Feng. You're so outstanding there's no one for you to be jealous of. But I'm very jealous of you!" Chen Hong said.
"Why the envy? Your life is already a huge win," Luofeng said.
Luofeng was right. Chen Hong, in terms of lifestyle and status, had already achieved what ordinary people couldn't even dream of. Won? He could pick any he wanted. Houses? He could choose any he wanted. Status? His standing in the Capital City circles wasn't low, and if he went elsewhere, he'd be treated like absolute royalty, wouldn't he?
"Brother Feng, I really envy you! Everyone likes you, everyone wants to be friends with you, everyone says you're amazing. Don't you know that?" Chen Hong exclaid.
"Of course I know. It's because I can bring benefits to everyone," Luofeng said.
"Before you appeared, all these praises were mine. Therefore, Brother Feng, I must defeat you. I must reclaim my honor! In the circles of Capital City, there can only be one young, successful, and confident individual—and that's !" Chen Hong declared.
"Boring!" Luofeng said, followed by a light "Hmm".
This Chen Hong is really a bit odd, Luofeng thought. But perhaps he's just not used to suddenly falling from such a high position? After all, it's lonely at the top.
"By the way, Brother Feng, rely causing one of my Heavy Position Stocks to lose so value ans we only lose a bit of money at most. This move doesn't really affect us much!" Chen Hong said.
"Heh, as long as Shengyuan Group incurs losses, that's fine by ," Luofeng replied. "Besides, I also know that Shengyuan Group's main fund managent projects are governnt-backed. But are governnt-backed projects necessarily completely safe?"
"What do you an?" Chen Hong began to feel nervous.
Is there sothing unstable about governnt-backed projects? What on earth is Luofeng up to? Chen Hong wondered.
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