The He family and the other three families had no idea who they had offended.
The Xu Group, with a market capitalization of nearly 30 billion, was directly hit and its value shrank by 90%. This is what happened at the Hong Kong Stock Exchange. Unfortunately, the East Asia Mingyu Group was using a pseudonym at the time. If the four companies knew about it, they would definitely not dare to touch it. It would be neither a scam nor a crime.
Si Mingyu arranged for people from the East Asia Mingyu Asset Management Company to enter the market and launch a sniper operation against the stocks of the four companies. Not only would they be delisted, but they would also suffer heavy losses.
The combined market value of the four companies was only over 16 billion Hong Kong dollars, but Si Mingyu directly loaned 15 billion Hong Kong dollars from the Trust Bank to the asset management company. This stock market battle was destined to be won before it was even fought, it was just a matter of how much he would win.
For President Lu David, Si Mingyu asking him for a loan was giving him face.
As far as he knew, the other party's net worth was close to 140 billion Chinese yuan, while his foreign debt was less than 19 billion. The LNG ships under his name alone were making a crazy profit of 1.4 billion per month. For such a high-quality customer, he had to do everything he could to get more loans.
It's not an exaggeration at all. It was fine when Si Mingyu was not well-known before. But in the past six months, the heads of various bank branches in Shanghai have been trying their best to contact him, hoping to provide him with financial services.
Dongya Mingyu Group was a private company; all it took was Si Mingyu's approval. It was much easier for banks to deal with one person than with companies with numerous partners, boards of directors, and other personnel, requiring meetings and negotiations.
As for the shareholders of China Merchants Bank? It doesn't matter. We can meet any conditions offered by China Merchants Bank. You are welcome to buy our bank's shares.
This is a bit off topic.
The media companies were also busy. All kinds of negative information about these four companies were dug up, and then they contacted the media and newspapers in Hong Kong to expose them.
Of course, we will definitely not spread irresponsible news. We will only reprint news that has been verified by various official or major media, no matter how long ago it happened, as long as it is true.
To be honest, all four companies had their share of issues throughout their history, but due to the length of time they spanned, they were often exposed only occasionally and quickly passed. However, this time, a compilation of their past problems was broadcast, and the impact was significant.
In the morning, the tabloids published false news about Si Mingyu. In the afternoon, major media in Hong Kong exposed the problems of the four companies. At the same time, stock market attacks against the four companies were immediately launched. The counterattack came so quickly.
Now it's the turn of the four companies to be in a mess.
The exposed information is all true. It is impossible for the four companies to accuse any media, saying that they are wrong to bring up things that happened several years ago or even more than ten years ago and talk about them again. If this is the fact, then are they not allowed to talk about it after a few years?
This big melon is more eye-catching in the eyes of Hong Kong residents than Si Mingyu's case. After all, the former is a true matter that concerns the people of Hong Kong, while the latter is nothing but a fabricated topic of conversation.
Even more remarkable is the fact that many prominent commentators have also weighed in on these revelations. To call them comments is a bit of a subtle understatement, as these are matters that have already been concluded. In reality, these people simply need to criticize the four companies based on the outcome of the incident.
You guys didn't do your job properly and were punished, so what if I, a Hong Konger, scold the capitalists? Riding on this wave of enthusiasm, these commentators gained a lot of attention.
Of course, no matter what, these things are in the past. The four companies have been punished and dealt with, and there is not much point in bringing them up now.
However, the stock market attacks on the four companies, coupled with the amplification of these news, caused their share prices to fluctuate dramatically. Fortunately, because it only lasted half a day, it was barely able to hold up.
These four companies are not fools. They can guess who did these things even if they have to guess. But the problem is, what can you do if you have no evidence?
Even if there is evidence, what does it matter? Neither stock market activity nor leaking information violates any laws, so you can only hold on.
But in reality, they couldn't hold on at all. The stock prices plummeted as soon as the market opened the next day, and the four companies had no way to save themselves.
Take the He family, for example. If the company's market capitalization remained at 5 billion, their 40% stake would be worth 2 billion. However, the more the stock price fell, the more the He family's net worth would shrink. If we consider real estate and other assets, the entire He family's net worth would not exceed 300 million.
Generally speaking, midstream companies like these are very safe. Small institutions cannot do anything that affects their stock prices due to funding issues, and large institutions and big speculators do not value their small amount of money.
If you have billions of funds or are able to raise this amount, there is no need to enter the stock market to target listed companies of this level, because in the end you will not make much money after wasting time and effort.
Just like the He family, they wanted to save the stock price but couldn't. In fact, after placing hundreds of millions of short orders, the He family had no way to deal with it.
It is impossible to raise money. The banks have already received the news. Who would be stupid enough to lend money to the He family who will definitely not be able to pay it back?
Borrow money? Sorry, your He family should pay back the money He Yaocheng owes first.
So He Maochang could only watch the stock price plummet.
The same is true for the other three families, or to say, they are better off than the He family and can raise some money for rescue, but it is only to postpone the time of death.
The An family, which is engaged in the financial industry, has the most liquid funds among the four companies. After investing hundreds of millions of yuan, An Guangtian saw that the stock price was still irreversible and simply gave up treatment.
Ultimately, the money invested by Si Mingyu was too huge. Although it was a waste to use a sledgehammer to crack a nut, it is undeniable that the effect was very significant.
The four families, who had no power to fight back, could only admit defeat and beg for mercy, but they found that they could not contact Si Mingyu.
That's right, in order to avoid unnecessary trouble, Si Mingyu changed hotels, but his contact information was only known to a few people including Chen Weirong and Lu David. How could He Maochang and others have the face to ask these people to tell them their contact information?
But after all, he was a local tyrant in Hong Kong. If they checked, they could still find the hotel where Si Mingyu was staying. There were only a few five-star hotels in Hong Kong. But this would take time. Every minute of delay would mean another dollar drop in the stock price. By then, even if they could save the company, the loss would be heavy.
On the other hand, for the East Asia Mingyu Asset Management Company that launched this sniping attack, their final profit would only be around 100 million Chinese yuan.
Firstly, the interest on the loan of 15 billion Hong Kong dollars is not small and must be deducted from the profit. Secondly, the four companies invested only several hundred million Hong Kong dollars to save the stock price. In addition to their own companies, many retail investors and speculators also took a bite, so there is not much left after a share.
However, for Si Mingyu, he just wants to defeat these four companies. He doesn't care even if he loses money, let alone making a profit.
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