my fintech empire.

As of the close, the three major A-share indexes plummeted across the board. The Prev Index plummeted -5.16% to close at 2985.44 points; the Shenzhen Component Index plummeted -7.00% to close at 12726.54 points; the ChiNext Index plummeted -4.46% to close at 1082.24 points.

The combined trading volume of the two cities released a huge amount of 5323 billion, setting a historical record.

In terms of individual stocks, Weibo, the most popular leader, dropped its limit in the afternoon, closing at 190.49 yuan, and released 128 billion in volume today.

The funds that entered the market today, no matter who they are, will be buried. The index took two weeks to rise, and a big negative line fell through.

Qunxing Capital has completed its liquidation plan yesterday, and it can be regarded as a very comfortable evacuation, avoiding stepping on each other with the market.

……

On weekends and weekends, a "small composition" caught Fang Hong's attention.

On Saturday morning, an article questioning the alleged illegality of WeChat's "voice function" appeared on the Internet, and spread rapidly over the weekend.

According to this "small composition", the "voice function" of WeChat is Internet telephony, which belongs to the category of telecommunications operations and requires relevant licenses, but WeChat obviously does not have a legal license.

Therefore, this is an illegal operation that violates laws and regulations and should be banned or shut down.

Moreover, this "small essay" stated that once WeChat rises, it will inevitably have a great impact on the business of the three major operators.

The fermentation during weekends and weekends can be determined to be fueled by someone, and the rapid expansion of influence lies in the objectivity of many contents of this "small composition", such as the fact that it will impact the business of operators.

Once WeChat becomes popular, people use WeChat for long-distance communication, and the demand for making calls will decrease. This is indeed objective, especially with the popularity of smartphones, it will be more obvious in the era when everyone has a smartphone .

But Fang Hong paid a little attention, but didn't care too much.

China Unicom operator is currently the second largest shareholder of WeChat, and Xincheng Local State-owned Assets is the third largest shareholder. The most important thing is that Qunxing Capital is now connected to the top institutions of the five national teams.

Who dares to cross provinces to Xincheng to arrest people and arrest the WeChat development team?

But at this time, some entrepreneurs who want to make mobile instant messaging software are a little worried about being caught, especially if they have no background, they may be caught across provinces.

On the contrary, this small composition has reduced the emergence of WeChat’s competitors in a sense.

But big names like Goose Factory and Rebs are not afraid.

In short, to make mobile instant messaging software, it is not enough to have innovative technology and funds, but also to have a strong enough background support!

The fermentation of this "small composition" had no substantial impact on WeChat, but Weibo's stock price was hit by the board, and there was an extremely tragic sell-off in the following week.

……

On Monday, November 11th, the A-share market opened. Weibo opened sharply lower by -15% at a price of 181.13 yuan.

At around 13:22 in the afternoon, Weibo's stock price dropped to 171.44 yuan and hit the limit, breaking out of two consecutive limit-downs. Today's trading volume released 95.27 billion yuan, out of the shrinking limit.

Today's index fell 1.5 percentage points in intraday trading, and then rebounded and turned up +0.97%, showing a golden needle bottoming out the K line.

But the next day, the market tumbled again.

The market opened on Tuesday, November 11. The market opened in the morning with a similar trend as yesterday. It fell by more than one point at the beginning of the market and then began to rebound. The script in the morning was similar, but the script in the afternoon was completely opposite.

At around 13:20, the index plunged again, plummeting all the way for an hour. At around 14:20, the 2900 mark of the Shanghai Stock Exchange Index was broken down in one fell swoop, and the lowest drop fell to 2885 points, a drop of more than 4 percentage points.

The entire market was wailing, and the two big negative lines directly fell through all the gains in the past month.

As for individual stocks, Weibo was even more miserable today, and the call auction reached the price of 154.29 yuan, directly hitting a one-word limit down.

This is the first time that Weibo has experienced a three-day limit since its backdoor listing, and it is also the first time that there has been a one-word limit.

At 10:30, the price limit of Weibo was pried open, triggering investors to follow suit. Why did they dare?Because the leaders of the two cities will have a retaliatory rebound when the cumulative short-term sharp drop is around -[-]%.

Most of the people who come in today are playing with this logic to grab a rebound, and then prepare to smash it tomorrow to take over.

In the end, I never expected that it was me who took over.

In the afternoon, the index crashed in a stampede, causing Weibo's stock price to fall again and seal the limit. The trading volume of the day released 76.53 billion yuan, further shrinking.

……

Wednesday, June 11.

Weibo’s bidding price opened lower by -6.66%, and it was the limit-down again that day. The stock price closed at 138.86 yuan, and the daily turnover shrank to 61.39 billion yuan. This is Weibo’s fourth consecutive limit-down.

Thursday, June 11.

The Weibo bidding price opened -5.67% lower, and it fell to the limit again that day. The stock price reached 124.97 yuan, the market value shrank to 661 billion, and the daily turnover further shrank. Today it is 52.14 billion yuan. The transaction scale of 52 million yuan is still the most traded stock on the day of Sit.

The stock fell from the historical high of 218.11 yuan last Friday to the current 124.97 yuan, and the cumulative decline of five consecutive limit-downs reached -42.7%, which is already close to being cut in half.

At this moment, the comment area of ​​Weibo's stock bar is full of wailing.

[Please call me Chasing Warrior Gao, my code name is 218.11, who else? ]
[This is not cut? ]
[Leeks are not cut! ]
[Cow pen! ]
[Downtrend, nothing good will work. ]
[The killing is really ruthless! ]
[The 200 book, is there any hope of solving the problem? ]
[218.11 There is no suspense at the top of the universe, cut it off, the crazy feast that lasted for half a year should also end. ]
[There is no stock that only rises but never falls, no matter how good a company is, it is impossible to keep rising. ]
[Any rebound is an opportunity to escape, run, silly boy! ]
[They are all stuck on horses, and they still run a few times! ]
[It is easy to buy but difficult to sell, and the rise is weak and the stock price is disabled.Shareholders will run out of money until they die, and the market value will be wiped out in tears.I wanted to cut my flesh and leave, but I was afraid that the banker would make an effort, and the situation would be very cold, and this matter would be difficult. ]
[I strongly opposed Teacher Tianya’s withdrawal from the literary world at the beginning...(cover face.jpg)]
[Writer giants are haunted, and I feel that the bottom is imminent. ]
……

The author who published that "little essay" has now been smashed by the stockholders who are stuck in the Weibo stock, but it is an anonymous article, and the stockholders are equivalent to rushing into the air.

No one expected that the power of an article directly set Weibo up to 4 limit downs, evaporating a market value of 500 billion yuan, plus the previous one, it was 5 limit downs.

But in fact, it is the profit-taking of big funds. As for the small essay, it just accelerated the mean return of Weibo's stock price.

Five consecutive down limit is indeed too hard and too hasty. This is the real collective irrational behavior, and the emotional ebb and flow are mixed.

Now the stockholders who are locked in by Weibo have become confused when they see the five-day limit of this stock, and they can't see the bottom at all.

But Weibo actually has a bottom line.

Because several major capital institutions are responsible for the management of Weibo’s market value, Zhongtai Capital, Pengrui Capital and other major domestic institutions have already distributed chips frantically when Weibo’s market value exceeded the [-] billion mark. Cash out.

The funds raised by these institutions will be divided into three parts, the first part will be their profits and put back into their pockets, and the second part will be used to support the Weibo market. Once the stock price drops to the point that only a few major institutions When the price is set internally, or when the liquidity is extremely sluggish, they will sell.

The third part of the money actually belonged to Qunxing Capital, but it was temporarily placed under the names of those institutions.

Because Qunxing Capital will also reduce its holdings in the future, but as the largest shareholder, it will reduce its holdings. If an announcement is made to reduce its holdings, the stock price will definitely fall into a dog before Qunxing Capital officially reduces its holdings.

How to do it?

That is, Zhongtai Capital, Pengrui Capital and other institutions will support the market at this time, resist the selling pressure of the market and push up the stock price. This requires real money to undertake. And the money they paid was the third part of the funds.

In this way, the third part of the funds was transferred from the secondary market to the hands of Qunxing Capital. There was no illegal operation in the whole process, and everything was carried out in accordance with legal procedures.

Qunxing Capital doesn't even have a drawer agreement with them, it's more like a gentlemen's agreement, but the real core driving force behind it is - credit!
It is the credit of Fanghong, the credit of Qunxing Capital, and the establishment of sufficient strategic mutual trust between the two partners.

There are scammers everywhere in the financial circle, there is no credibility at all, but it is the circle that pays most attention to credibility.

……