Ouyang Group.
Chairman's Office.
Ouyang Ming was also holding a newspaper that his secretary had just brought him. When he took a look, he almost spat the tea he was drinking onto his secretary's face.
"What, what's going on?"
Ouyang Ming swallowed the tea with difficulty, his face turning red. With a "smack," he slammed the newspaper onto his desk and roared.
"Call me and ask, now, immediately, right away."
"Yes, boss, I'll go right away."
The secretary was trembling with fear. She had also seen the morning newspaper, which reported on the sale of counterfeit goods at Ouyang Group's counters.
If left to develop unchecked, no explanation will be given.
I believe it won't take more than an hour. No, at this moment, there's only half an hour left before the Hang Seng Stock Exchange opens.
Who knows what might happen in half an hour?
at the same time.
Ouyang Ming made a call to his administrative assistant, "Quickly, call the China Securities Regulatory Commission immediately and report that the company has major news that needs to be clarified. Now, quickly, request that Ouyang Group's stock be temporarily suspended from trading."
However, if Ouyang Ming could think of these things, Chen Dong naturally could too.
Choosing this time to act means exploiting a loophole in the regulatory system.
You can't just do whatever you want. Temporary suspension of trading? What a joke. There are no undisclosed material events. It takes at least one trading day.
In other words...
Even if Ouyang Group applies to the China Securities Regulatory Commission for a temporary suspension of trading right now, it will take at least until the next trading day.
This is still the ideal situation.
In fact, suspending trading temporarily is far more complicated than you might think; it requires multiple applications and approvals before it can be finally approved.
Moreover, it's just clarifying negative news; normally, the China Securities Regulatory Commission (CSRC) wouldn't bother with this.
On the contrary, we will continue to monitor any unusual movements in Ouyang Group's stock.
Five minutes until the Hang Seng Stock Exchange opens.
The administrative assistant replied, "Chairman, our request for a temporary suspension of trading has been rejected."
"..." Ouyang Ming was almost going crazy at this moment.
He felt he was having a run of bad luck; he had just finished cleaning up his son Ouyang Fei's mess when his company was hit with negative news.
Hopefully, these two matters are not related.
Ouyang Ming said with a gloomy face: "Go and notify them to convene a meeting of the board members."
"Yes, Chairman."
When you're down on your luck, even drinking water can cause problems.
When Ouyang Ming notified the other board members to hold a meeting, the Hang Seng Stock Exchange opened.
Inside the stock exchange.
A stock trader who had just filled out a form quickly handed it to the floor trader and shouted anxiously.
"Quickly, place a sell order for Ouyang Group's stock."
Trader: "Sir, the current share price of Ouyang Group is HK$10.21 per share. You hold a total of 1,100 shares in your account. Do you want to sell them all?"
"Yes, sell them all, quick, quick, lower the price by 1 cent."
HK$10.11.
HKD 9.85.
HKD 9.46.
......
In less than a minute, the stock price of Ouyang Group dropped by 3%.
Moreover, there were no large buy orders to be seen, only a few scattered buy orders, which were quickly buried by the massive sell orders.
The trader had just quoted the price when his eyes widened in disbelief. He said with an embarrassed expression, "Sir, I must remind you that it's unlikely your selling price will be enough to close the deal."
Men know that too.
The screen clearly shows a downward-sloping candlestick on the intraday chart, with no sign of a rebound, and the stock price continues to decline...
-4%.
-6%.
-10%.
Just three minutes after the market opened, the stock price dropped from 10.21 to 9.28, a full ten percent drop.
The man's heart was bleeding as he watched, but this was only the beginning.
-12%.
-17%.
The man was pale, large beads of sweat slowly sliding down his forehead. He clenched his fists so tightly that his fingertips dug into his palms. He gritted his teeth and said angrily, "Sell, sell them all. Sell them voluntarily."
The trader was taken aback. "Sir, the buy order is only HK$7.80 right now."
"Sell!"
At HK$7.8 per share, this represents a drop of over 30%.
The man gritted his teeth. He was afraid that if he waited any longer, the stock price would drop even lower, and he didn't want to wait any longer.
The biggest difference between active selling and pending selling is that one doesn't look at the price; a transaction will only occur if there are buy orders below. Otherwise, it will keep searching for buy orders below.
A pending order refers to placing a sell order at a certain price level without considering whether anyone will buy it below.
The downside is that in the event of a stampede like today, it's very likely that not a single share will be sold.
When news of the stock market reached Ouyang Ming's ears, he felt a sudden darkness engulf him.
They didn't get it in half an hour, and the company's overall market value shrank by 30%.
A shareholders' meeting should be convened immediately.
He didn't want to wait a moment longer; at this moment, he had to stabilize the morale of his troops.
Ouyang Group is a listed company, and as such, its shares are publicly traded.
The Ouyang family holds approximately 37% of the shares in the Ouyang Group, making them the rightful largest shareholder.
The second and third largest shareholders hold 8% and 5% respectively.
These people are close to Ouyang Ming, and together they account for 50% of the shares in the Ouyang Group.
By simply acquiring another 1% of the shares, absolute control can be achieved.
Regardless of any negative news from the outside world, once the news is clarified afterward, the stock price will naturally rebound.
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