Reinventing the Millennium.

Chapter 776 Demons and ghosts come to meet each other (two in one)

The overall market in the east, the fierce competition environment, the uncertain future of new business, and the successive reduction of stocks in the hands of the chairman and executives are the logic of Lehman Brothers' shorting of Yike's stock price.

Since the short report comes from a well-known Wall Street investment bank, it naturally has a seemingly smooth logic.

Among them, Lehman pointed out that senior executives Su Wei, Yu Hong, and Zhou Xin who were closely related to Fang Zhuo, the chairman of Yike, all sold all the stocks they held after the lock-up period.

After reading the Lehman report, many people are confused about the business logic, but when they see the stock reduction, they immediately feel that this executive’s action is in line with imagination. If your top management is still optimistic about the company’s future development, why not Continue to hold it?
The short report is public, the news is spreading, and the influence is expanding.

After one night, Fang Zhuo, who was working normally, wanted to put the company affairs first, but the continuous calls disrupted everything.

In addition to Zheng Ge, Lan Hua, Lao Xiong, Wang Ge and others who called for the first time last night to express concern and help, the head of ICBC, the head of Bank of China, the leader of Lin'an, the retired old man Ni Runfeng and others who contacted today also have similar statement.

Everyone generally thinks that this is a matter that can be solved with funds. If Mr. Fang is really short of money, too much may not work, so if you make it together, you will always be able to squeeze out a share.

So do others.

Fang Zhuo specifically asked Ni Runfeng: "Excuse me, old Ni, you are retired and can't even move public funds. How can you help with money?"

Ni Runfeng replied very seriously: "For so many years, I have saved 200 million pension funds, and I am sure you will have no shortage of friends. What if the last gap is 200 million?"

He added: "My son is in Yike. Although I don't think Mr. Fang's skill will solve the problem, I have to make a statement. When I see my son in the company, Mr. Fang must not immediately think of—oh, Xiao Ni's old man followed suit at the beginning."

If there is difficulty in Yike, follow the etiquette in all directions.

Fang Zhuo couldn't help laughing when he heard this, um, this part of Lao Ni...

He still expressed the same thanks as in other phone calls, and explained the situation of this personal grievance a little bit, and finally said: "Old Ni, you keep the money, and if I encounter difficulties in the future, I will spend the money together. "

Ni Runfeng said, "It's a deal."

After Fang Zhuo put down his phone, he felt that there were quite a few friends who were really willing to help. Old Ni said it more bluntly. His son, Xiao Ni, was still in Yi Ke, so of course he couldn't just watch Yi Ke have an accident.

As for other friends, whether it is a joint investment or an industrial connection, it’s okay to think that Yike will not have any accidents, and it’s okay to judge that the business map is still stable. I am grateful.

Most importantly, how to deal with this matter?

Cold treatment?heat treatment?
Of course, Fang Zhuo thought it was funny to short Lehman, but his reasons were hard to make public. Even when he talked about this matter with Xiao Su last night, when it came to the relationship between Lehman Brothers and the subprime debt market, the latter was skeptical.

Su Wei's feeling is that Lehman Brothers may be affected by the subprime debt market, but how much can it be affected?

The name of the Wall Street investment banking giant is indeed resounding.

Fang Zhuo's friends were moved by the sale of this time-honored brand, but today's calls were mostly interview applications from media reporters.

Fang Zhuo declined all the media who could call his number, and asked a familiar editor-in-chief, who gave him an answer that made him feel like he was in an information cocoon.

What is Lehman shorting Yike?
It is the first case of shorting a Chinese concept stock in the US stock market!
Record breaking!

Who broke this record?

It is Fang Zhuo who has won the Forbes Mainland Rich List three times in a row!

And, somewhat darkly humorous, the “short selling” mentioned in the last media interview was exactly what Mr. Fang did in the Hong Kong stock market against Gome.

The media reporters have a tacit understanding not to use the Hong Kong stocks as a precedent, but only to frame the U.S. stocks. Some people have reprinted the short-selling report of Lehman Brothers in the first place, and typed the words "the first Chinese stock to encounter short-selling".

As a very hot party, Mr. Fang's response was also very much pursued by the media.

Even the deputy editor-in-chief of Sina in Shencheng shyly made a phone call, asking if he wanted to clarify the matter.

Fang Zhuo was quite unexpected about this situation.

But when you hear words such as "the first", "short", and "the richest man", you can somewhat understand the concern in today's public opinion environment.

However, my friends, not every short sale can see results. You can’t get excited when you hear this word, and feel that there must be something wrong when you see the report of a foreign giant.

Fang Zhuo thought so in his heart, considering to observe the fluctuation of the stock price, and then give some positive responses appropriately.

On the day of August 8th, the phone calls continued from morning till night.

At night, those who should be asked have been asked, those who should be rejected have been rejected, and the number of calls has gradually decreased.

However, when Fang Zhuo arrived home, a related Hong Kong media report was forwarded to the email for review. The media over there suddenly compared "Yike was shorted by Lehman" with "2001 Enron fraud case" .

Enron used to be one of the world's largest energy, commodity and service companies, No. 500 in the "Fortune" magazine's "Top 7 in the United States", suddenly filed for bankruptcy at the end of 01, becoming the largest bankruptcy in American history case.

Even the prestigious Arthur Andersen accounting firm was forced to disintegrate and close down because of its involvement.

The Hong Kong media cited the "Enron Incident" and asked several questions following Lehman Brothers' short-selling report.

——Is there any connected transaction in Yike?Is there financial fraud?Is there insider trading?
The tabloids are relatively unscrupulous and will not have much influence, but one or two major newspapers published the short-selling report of Lehman Brothers, and the financial channel of the TV station quickly discussed it, which made doubts gradually get bigger.

I don't know whether it was affected by public opinion or Lehman, but in two days, Yike's stock price fell by more than 8%.

Fang Zhuo felt that the drop was reasonable, but the company still took advantage of the market break to give a formal response, refuting the reasons in the Lehman Brothers short-selling report - Yike has always been committed to promoting the development of the Chinese market and leading the music industry In the transformation of the Internet era, actively expand the company's new business profit points...

As for the doubts from the Hong Kong media, Yike Company ignored them.

At the same time, in order to express confidence, as the chairman, Fang Zhuo also routinely ended the shareholding reduction plan that had not been fully completed.

When the U.S. stock market was closed, Yike’s stock price rebounded by 4%, which seemed to be a normal fluctuation.

But...Wang Yanyou from Sina complained to Mr. Fang on the phone: "Lehman is obviously shorting Yike, why did Sina's stock price drop by 10%?"

This really puzzled Fang Zhuo.

Sina is just an honest kid, honestly building some outdated portals, delving into the profitability of blogs, and operating some foreign games, how could it be accidentally injured?

Moreover, when Yike's stock price began to rebound, Sina was still in that unlucky state.

Fang Zhuo can only guess: "I think Sohu and NetEase have also fallen by [-]% or [-]%. This is not Sina's fault. It may be that the US stock market suddenly feels that the overall signal of Chinese concept stocks is not good."

Wang Yan was very wronged, of course it was not Sina's fault!
Good things and good things can't catch up, and bad things and bad things will be ahead of me!
Following Yike’s announcement, Fang Zhuo does not plan to respond in person, but wants to deal with this matter coldly. You are shorting Lehman. It is your job to be able to make money by shorting. I, Yike, will silently save my mobile phone , Do business, is this the head office?

Two days later, Lehman's answer was - no.

On August 8, Lehman Brothers issued a supplementary report.

To Fang Zhuo's surprise, the content of this report seems to be more detailed, and there are many specific details about the operation of Yike's stores in China. cake behavior.

Yike does have self-operated stores, which acted as a regional storage point a long time ago. Later, as the market went down, they gradually became superficial, and more began to undertake after-sales and brand promotion work.

Fang Zhuo's most surprising point is that Lehman's examples of different store operations seem to be very careful, even a little too hard.

A Wall Street giant sending employees all the way to conduct field research?

This is unlikely to be an answer that fits the situation at this time. Instead, it is likely that outsourcing or cooperation with mainland investigation companies or even hedge funds has been carried out.

Fang Zhuo was a little unhappy considering this direction.

Lehman is insane, and the media sees it as a joke, which is understandable. How can there be companies in the mainland that follow suit?

I, Yike, travel the rivers and lakes, it should be because I have more friends.

Soon, when Fang Zhuo asked someone to ask which friend from the mainland wanted to join in the embarrassment, another old friend stepped forward first, and also expressed that he was not optimistic about the future of Yike from a financial point of view, and wanted to be short of Yike.

If it were anyone else, Fang Zhuo would be unhappy with such a blatant statement, but it happened that Rhubarb, who was shorted for the first time in the Hong Kong stock market, made such a statement, which really made him...

Let him laugh three times on the spot when he heard the news.

There is no such thing as "I can only short you, but you cannot short me"!

You Mr. Rhubarb were first restricted in liquidity and settlement cycle, and then you were short-sold and locked up to cash out. In the end, you had no choice but to accept the trendy merchants to take the opportunity to buy shares. Now you are giving a long-overdue counterattack with the hot word "short-short". normal.

Fang Zhuo had a great understanding of Mr. Rhubarb's actions.

As for the matter of Gome, who is about to die, jumping up and attacking me suddenly, I understand it, and it is better to solve it as much as possible.

Fang Zhuo marked President Da Huang, and patiently wanted to see if any friends would jump out at this time.

What he didn't expect was that the competition in the e-commerce field did not know whether it was a coincidence or just picked such an opportunity to make some small movements.

At the beginning of this year, Dangdang announced that it will increase the construction of logistics and warehousing, actively expand the business of all categories, and strive to participate in the development of the domestic B2C track.

In fact, Dangdang is indeed doing this, showing a firm determination to develop.

Tesco has a storage center in Beijing, which is located in Tongzhou, and this area is the logistics and storage sector planned by Beijing.

In May, considering the rapid development, e-buy planned to buy another piece of land for expansion and construction. It was almost the same, but the latest news was that Dangdang jumped out to use this land for warehousing and logistics.

Dangdang wants to increase investment, yes.

Dangdang wants to expand the warehouse, yes.

Dangdang's connections can cross love, yes.

But Qing Zi took advantage of this time to come out, either Fang Zhuo's carelessness or Su Wei's feeling a little bit like being thrown into trouble.

Rhubarb can always come out and add insult to injury, what is the relationship between you Qingzi and Yike here?
You absolutely can't!

Yike Investment holds the shares of Dangdang. Last year, Fang Zhuo and Li Guoqing made a bet in front of many big bosses. The time is still a little short, but according to the current development speed, Li Guoqing can't win.

Fang Zhuo didn't even need to mark Qingzi, after listening to Xiaosu's report, he planned to find a suitable day to bring Yike Investment's people to the door to collect debts in person.

However, the continuous changes in the country made Fang Zhuo change his mind on how to deal with Lehman.

The cold treatment didn't cool things down. Instead, multiple fields began to rise and fall, so it can only be heat treated.

In response to Lehman's second supplement to the short-selling report, Yike Company no longer announced a response this time. Instead, it began to notify the media to hold a press conference to respond positively to the doubts from Wall Street giants one by one.

And, Fang Zhuo felt that since Lehman came to his door like this, it just gave him a reason for the source of funds.

How do you get the money to buy companies frequently?

Earned money during the financial crisis!

How do you make money in a financial crisis?

Short Lehman!

Why are you shorting Lehman?

It was Lehman who shorted me first!
So, it's not that I can make money, it's Lehman who brings my brothers to make money!
Fang Zhuo thinks that it is not difficult to respond to Lehman Brothers’ short report, and he intends to show everyone that “short selling” is not so mysterious. If you can short me, I can also short you. You are all short, right?
The press conference was scheduled for August 8th, and the media who received the notification had enough time to fly to Shanghai.

The media that didn't receive it began to look for relationship activities, trying to get first-hand information as soon as possible. This is considered to be the most concerned event in the domestic business and financial circles recently.

On August 8th, the eve of the press conference, in addition to some media reprints, reports, and analysis, the specific news on Fang Zhuo's desk was that QQ alumni finally couldn't help but use Penguin traffic in the competition with Xiaonei. This big killer.

That is to say, seeing that Xiaonei.com has gradually built a solid campus social ecology by using its first-mover advantage and not inferior financial resources, QQ alumni abandoned the practice of mandatory real-name registration and began to import huge traffic from strangers, intending to quickly catch up with the number of users. outperform competitors.

Fang Zhuo made a mark, thinking that Penguin had made a mistake in this strategy, and that it chose a time when the competition changed was not friendly.

(End of this chapter)