Although Xu Zhirui refused directly on the spot, he still called his father Xu Yuande to explain the situation after returning to the car.
After hearing what happened, Xu Yuande also felt that Si Mingyu had gone insane. He was asking for six billion right away. Not to mention whether the Xu Group could come up with the money, even if he wanted to, as a listed company, it wasn't something he could decide on his own.
Xu Yuande convened a board meeting overnight. He was the chairman, but what was to come was not just his responsibility. He had to gather everyone's strength to fight against the foreign enemies.
The board meeting was very successful, especially after everyone saw that Xu Yuande had mortgaged his property to borrow 2 billion to stabilize the stock price, they all expressed their determination to fight the other party to the end.
Of course, Xu Yuande would not tell the major shareholders some irrelevant content from the meeting.
The Xu Group's nearly 30 billion yuan valuation is just a general estimate. The real estate and office buildings owned by Xu Yuande have nothing to do with the listed group, which is why he claims they are mortgaged. However, since he is the group's chairman, it's not a problem to include them in the calculations.
This also explains why shareholders supported Xu Yuande after they learned about the loan to stabilize the stock price. He was using his own money to save everyone.
When the stock market opened the next day, the first person to feel the pressure was the person in charge of the Xu Group at the Hong Kong Stock Exchange. Although there were many short orders before, they were relatively scattered. The total amount of 30 million was not visible even among the 10 billion outstanding shares of the group, not to mention the entire market.
The sudden influx of funds caught the Xu family off guard. Fortunately, the funds from the Shanghai Pudong Development Bank were already in place, which was why they were able to remain calm.
But the other party's funds seemed endless. As soon as you took one order, several new ones would immediately appear. The original head of the exchange and his team thought that the other party's valuation of 10 billion was already an overestimate, but by the close of the first day, it had easily exceeded 10 billion.
Xu Yuande always paid attention to the news of the stock market. When he saw this moment, he was already doubting whether his 2 billion could withstand it.
If the opponent only has these three moves, I can be sure to win. But if the opponent launches such a strong attack again tomorrow, how will I respond?
Xu Yuande picked up the phone and started dialing everywhere, with one purpose: to raise money. With money, everything is easy; without money, nothing is possible.
The so-called short selling is when the operator expects the stock to fall, and sells the chips in his hand at the market price, and then buys them back after the stock futures fall to earn the difference in the middle. Its characteristic is the transaction behavior of selling first and buying later.
The other party suddenly has such a large number of stocks in their hands, either they borrowed them from other institutions or collected them from retail investors. But no matter how they got them, there must be corresponding financial guarantees, otherwise what if you can't pay them back?
For both parties, the competition is about financial strength.
Pufa Bank was very considerate and would lend money on the same day as long as there was collateral. However, the Xu Group didn't have much to pledge, so they scraped together 200 million yuan and borrowed it.
If the loan didn't work out, he could only borrow money. But no matter whether Xu Yuande called or visited, the response he got was always, "Sorry, Mr. Xu, I don't have enough money."
Is this true?
How is that possible?
There are many rich people in Shanghai. Ten or twenty billion is a piece of cake. Hundreds of billions can be raised in minutes. Are they all short of money on the same day?
In reality, Si Mingyu approached Guo Zhixian, the patriarch of the Guo family, and asked him to spread the word: "The Xu Group's affairs are too complicated, so it's best not to get involved."
The Guo family is a Shanghai-based financial company. While not a large one, they are well-known within the industry. Their sudden rise to wealth and 3.5 billion yuan following Si Mingyu has made the Guo family a household name in the industry.
In finance and investment, whoever can make money is the boss, and when the Guo family makes money, their voice becomes louder. Now that the Guo family is spreading rumors to alert everyone to the risks, there may be real risks.
Not to mention anything else, just look at the situation of making 10 billion in one day, and I don’t know what will happen the next day. I have no relationship with Xu Yuande, so why should I take the risk with money?
Just when Xu Yuande was desperate for help, news broke that all blockbusters and most regular films would no longer be released on Xu's Cinema Line in the second half of the year. The news was brief, listing the film titles and, to lend credibility, including several images of notices sent by the producers to Xu's Cinema Line.
The news initially circulated only internally, but the more you tried to cover it up, the faster it spread, and gradually it became distorted. Rumors began to circulate, such as Xu's Cinema Line was failing and Xu's Group was abandoning the cinema industry.
Although Xu and his son were extremely angry about these rumors, they could do nothing about it. After all, the news that was released was true if it was traced back to the source. You couldn't blame the spectators for misinterpreting it.
But the impact was enormous. Investors panicked after hearing the news. Combined with the short orders against Xu Group in the stock market in recent days, some people began to lose hope.
That’s not all. Subsequently, news came out that several film crews were not considering cooperating with Xu’s Film Company.
Each film and television company has its own famous and unknown actors. You can provide money and manpower to shoot with other companies or drama groups, or you can take the lead in shooting your own film and let those who are interested join in. This is the norm in the industry.
Several production crews sending messages saying they won't work with Xu's Pictures is a bit redundant, given the numerous instances. For example, if Zhang San interviews and doesn't make the cut, the production crew sends a message saying they won't consider working with Zhang San. If Li Si interviews and doesn't make the cut, the production crew sends another. If Wang Wu comes to invest and the production crew isn't impressed, they send one. If they send all the candidates, how can they reach everyone?
But they're willing to go to such lengths, and you can't say anything. Did you go? Yes. Did they like you? No. Is what the crew said true? Yes.
But when this news reached the ears of shareholders, it was a different story. How could Xu's Film also be in trouble? At this time, some people began to run away.
The reason this happened was because Gu Shuanghui and Wang Jianguo were behind the scenes. These two things weren't complicated at all. The crews didn't lose anything, but they could earn extra money and save face for the bosses. So why not do it?
Of course, this is just a small problem. The Xu Group can also do such a small trick. It does have an impact on the stock price, but the impact is not significant.
The fatal blow came from an official announcement.
The announcement that all MCN agencies and live broadcast accounts under the Xu Group were suspended and relevant personnel were punished became the last straw that broke the camel's back.
The estimated market value of these institutions and anchor accounts is close to 2 billion, and the Xu Group has always promoted it this way. Now that the announcement has come out, the impression given to shareholders is that not only has a 2 billion industry been lost, but future revenue will also be greatly reduced.
In the era of live streaming sales, how can we sell goods and make money if live streaming is gone?
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