Because the name of another financial institution was used, most people in the Hong Kong financial circle did not know that this stock market battle was initiated by the East Asia Mingyu Group.
Moreover, this only happened within the Hong Kong Stock Exchange, so apart from people in the industry, no one else would take it seriously even if they saw news reports.
However, this incident has already caused an uproar in the relevant circles in Shanghai.
First of all, in the business circle, the Xu Group is a large company with a market value of nearly 30 billion, but it fell apart in less than two weeks. Even as a bystander, one can't help but sigh.
The financial community, second only to the others, had paid close attention to the stock market battle from the outset, and many even managed to snatch a piece of the Xu Group's profits later on. But everyone had to admit that the other side was too ruthless, and that even if the same thing happened to them, they wouldn't be able to withstand it.
Finally, in the industry circle, the advertising and media industry in which the Xu Group is engaged, as well as the film, television and audio-visual industry in which it is involved, have all been greatly affected, but the final outcome will depend on when the dust settles.
The collapse of Xu Group's outstanding shares, valued at over 10 billion yuan, led to the collapse of nearly 10 billion yuan in shares held by major shareholders. The majority of this was naturally held by Xu Yuande and his son. Because Xu Yuande had used personal loans to prop up the stock price, other major shareholders, believing the group would be safe, did not have time to flee.
Now the stocks are worth nothing.
The person who profited the most in this fight was naturally Si Mingyu. After deducting the fees for Tom's team and all other expenses, he still had a revenue of 7 billion.
It would be easy to take out 2 billion from it to repay the loan used to purchase shares in Peacock Feather Cosmetics Company.
Although each of the six companies led by Guo Zhixian only earned more than 20 million yuan, it only took a few days after all, so in terms of return rate, they had already made a fortune.
The most troubled person is the president of Pudong Development Bank's Shanghai branch.
The Xu Group borrowed 5.2 billion yuan by mortgaging its real estate, of which 3 billion yuan was used to acquire 20% of the shares of Peacock Feather Cosmetics Company and 2.2 billion yuan was used to save the company's stock price.
Now the money is definitely not coming back, but the bank is useless with nine billion worth of real estate. The problem is that with so many office buildings suddenly flooding the secondary housing market, not only will they be difficult to sell at a high price, but they may even impact the commercial real estate market in Shanghai.
Of course, apart from Xu and his son, the worst-hit ones are the group's major shareholders. They raised 300 million yuan to save the stock price, but now it's all gone. One by one, they are either trying to commit suicide or cursing in Xu Yuande's office, but is it useful?
As for the leeks, who cares about their opinions?
It is true that all the stocks of Xu Group are worthless, but the group is still there. Even after delisting, it can still continue to operate, but the prerequisite is that they can survive this most difficult time.
The impact of the collapse was that Xu's business lost new growth. Why would new clients choose to work with a company with such an uncertain future? Existing clients, on the other hand, prayed at home that Xu's business would not collapse before completing their contracts.
While revenue decreased, the group's expenses didn't. Besides, you don't think the Xu Group doesn't have other debts to repay, do you?
The group has borrowed a lot of money through various means during its operations. Although the total amount is only 300 million, that is compared with the previous market value. In this case, the bank people are already blocking the door.
Besides, there are still many accounts payable owed. In the past, the Xu Group was big and powerful and everyone was at ease. But in this situation, if we don’t get it back quickly, where can we cry if it goes bankrupt?
The most important thing is that the collateral for the 200 million yuan loaned from Pufa Bank is not real estate but other valuables of the group, including a lot of production equipment. If it were in the hands of the bank, there would be no need to do this job.
For a while, the Xu Building was as chaotic as a vegetable market. Shareholders were trying to commit suicide inside, people were asking for money outside and were very excited. In the middle, Xu and his son were in a state of panic.
But these have nothing to do with Si Mingyu. All he has to do is enjoy the fruits of victory.
After seeing off Tom's team, he announced on the spot that Song Yanming would reward anyone who participated in the stock market work targeting the Xu Group with five million, and the rest would receive five hundred thousand each.
The reason why they were given less this time is because they are not the main force. It is common practice to reward people according to their merits, and we should not give them generous rewards blindly.
At the same time, he instructed the Finance Minister Bian Guohai that all the people in the group and Dongshen Wealth would receive 10,000 yuan each, including the lowest-level cleaning lady, and the rest would receive an increase according to their level.
Don’t ask, just be happy.
Group company, conference room.
A meeting is underway to discuss the next steps.
"Uncle Xiao, please talk to the Xu Group. We want to take over their advertising media. The group lacks its own publicity channels." Si Mingyu said.
"What kind of conditions should be offered to them?" Xiao Shixian asked while taking notes.
"We can relax the purchase price appropriately. Tell the Xu shareholders that once the acquisition is completed, our feud with the Xu Group will be over. They know what to do."
Compared with the price, a ceasefire agreement is what Xu’s shareholders need more.
"Uncle Bian, please review the financial aspects." Si Mingyu turned around and said.
"Don't worry about that, we have sufficient funds now." Bian Guohai said he was under no pressure.
"Sister Lu, please see if there are any entire buildings for sale in Shanghai. We can take a look at the ones you choose. You don't have to worry about the price." Si Mingyu said to a mature woman in a suit.
As the group expands, the existing office space will soon be insufficient, so we need to prepare for this. Building a new building is definitely too late, so we should just buy an existing one.
"Okay, I'll show it to Mr. Si after I've selected it." Her full name is Lu Jiamei, and she is the new manager of Dongya Mingyu Asset Management Company.
"Uncle Fu, how is the shipment volume at the electronics company? What about the development of new products?" Si Mingyu asked Fu Wanyun last.
"Sales have reached saturation. The consumption capacity of those small African countries is not very good. Even though we are the exclusive operator, the shipment volume has stopped growing. New products have been launched, and increasing revenue depends on these new products." Fu Wanyun replied.
"It's fine to maintain the status quo in this regard. Next, I'll ask Uncle Fu to look for a place to build our own factory, or we can acquire it. We can't always do OEM, we must have our own manufacturing entity. But there's no rush in this regard, so keep it confidential." Si Mingyu reminded.
"Don't worry about this, Mr. Si." Fu Wanyun also supports the real economy.
"Everyone, the group is currently in a period of growth, and what we lack is talent. Each branch can start recruiting. If you find a suitable candidate, don't let them go. Even if they have to work from home first, we can't leave them without someone available while we wait for our new office space."
"I understand, Mr. Si." Everyone agreed.
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