After the interview, Lu Feng immediately called Manager Liu to inquire about the position. Manager Liu replied that they had already bought 13% of United Capital's shares. The problem was that Manager Liu's purchase had lifted United Capital's stock price, which was originally in a downward trend.
It's not just them buying; United Capital is also conducting buybacks. The amount isn't large, but it's very important for confidence in the stock market. Currently, United Capital's stock price is stuck at 9.9 yuan, and they dare not buy rashly.
"Complete the remaining 7% within ten days. If the stock price doesn't drop, then buy it immediately!" Lu Feng instructed.
The financial war in Hong Kong in the previous life lasted about a year. This time, Lu Feng felt it wouldn't take that long, and there shouldn't be any major problems before November.
According to Lu Feng's estimate, the most intense period of the battle should be this month. Once the market stabilizes, securities stocks will be the first to rebound and stabilize. At that time, it will be extremely difficult to get stocks from Su Yourong.
Lu Feng even suspected that Su Yourong had already realized that someone was taking advantage of the situation to buy stocks at low prices, but Lu Feng didn't care.
After hanging up the phone, he went straight to the agreed location, where the three shareholders of United Capital were already waiting impatiently.
Upon meeting, Mr. Wang, a man in his sixties, stood up to pour tea for Lu Feng, and the three of them were as attentive as his little followers.
"No, no! Just have the waiter pour it." Lu Feng hurriedly said to the three of them, "It's been a while since we last met. How have you been?"
"Mr. Lu, didn't you say you'd be back on the 5th?" Mr. Li's face was wrinkled like a Shar Pei, and he looked much older than he had a few days ago.
This past week has been incredibly difficult for the three of them. They watched helplessly as their stocks were halved in value, and the Hong Kong dollar plummeted against the US dollar. If priced in US dollars, their net worth had shrunk by 90%.
They also considered pledging the stocks to banks, but now banks define stocks as extremely high-risk assets and refuse to pledge them. They approached some former owners, wanting to sell them for a valuation of 5 billion, but the owners said that Hong Kong has returned, its global financial status is gone, and the mainland has the Shanghai Stock Exchange, so there is no room for Hong Kong financial companies to exist.
Whether viewed from a short-term or long-term perspective, this is a company destined to go bankrupt. Even if someone were to buy it, they would definitely buy a large securities firm.
The three of them were so anxious that they scratched their heads and couldn't sleep all night, fearing that Lu Feng would never return. Today he finally came back, how could they not be happy?
"Something came up at home and I'm in a bit of a bind. Have you thought it through?" Lu Feng asked the three of them.
The three nodded vigorously, eager to sign the contract right away.
Seeing how readily they agreed, Lu Feng understood that they were just like retail investors selling at a loss, terrified by the market. If he didn't take advantage of them now, when would he?
Lu Feng feigned reluctance, picked up the teacup in front of him, took a sip, and remained silent.
Seeing this, the three became even more nervous. Mr. Wang spoke up, "Mr. Lu, didn't you say you were going to buy it?"
“I really didn’t expect the situation to deteriorate like this in such a short time. In the current situation, even a stock market crash would have to admit defeat. In addition, I was not satisfied with my trip back to Beijing, and I am somewhat hesitant.” Lu Feng looked at the three of them and said, “Moreover, the market value of United Capital in the secondary market is only HK$5 billion now.”
Although the three were anxious, they weren't stupid. The fact that Lu Feng came today meant he wanted to buy, and his words were just an attempt to lower the price.
But they are powerless against the odds, and in this situation, the other party is trying to lower the price, so they dare not say anything.
"Mr. Lu, please name your price," Mr. Wang said in a low voice.
Lu Feng lit a cigarette and pondered for a moment, his gaze occasionally sweeping across their faces. He could tell that these three were genuinely interested in selling, and if they couldn't sell their shares today, they would probably be in tears.
“I won’t take advantage of you. I also have a question about this matter. I’ll acquire it at a valuation of 3 billion!” Lu Feng offered a tentative price.
Lu Feng originally wanted to cut them in half, but he was afraid they couldn't accept it and scared them away.
“Mr. Lu, this price has almost been halved. United Capital isn’t a very large brokerage firm, but its current valuation of 5 billion is basically at its bottom. People are already buying in large quantities, and Mr. Su is also actively buying back shares.” Mr. Li was anxious and said to Lu Feng, “Even if the market is in a bad state, can it really drop another 50%?”
"Don't think like that. There's a saying: 'A bull market has no top, and a bear market has no bottom!' Let me tell you this: Wall Street's big offensive hasn't even started yet. The next month will be the most brutal." Lu Feng took a puff of his cigarette and said, "I might as well tell you the truth."
"I have just accepted full authorization from the mainland office to take charge of the defense of the Hong Kong dollar. The mainland has limited funds; how long can it hold out? Nobody knows. In addition, I am not in charge of the Hong Kong stock market. I can also tell you that large-cap stocks will be an important battleground."
"As for small-cap stocks, it's all up to fate. You're talking about company buybacks, but how much money do you have? Can you stop retail investors and funds? How much money do you have to buy back shares?"
"Mr. Lu, when it comes to business, we should discuss things. How about this, let's also set a valuation. It's 4 billion, and we'll give you a discount of 1 billion!" Mr. Wang said.
Lu Feng shook his head, stood up, and prepared to leave.
He had only intended to bluff them, but when he reached the door, all three of them held their breath and didn't call him back. Lu Feng paused for a moment and strode out.
These three have been frightened by the market. They definitely won't be able to hold on for the next month. There's a high chance that if the market opens lower tomorrow, they'll be scared into handing over their shares.
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