Metropolis: My Rising Life

Chapter 402 Chen Dashao’s greed

A well-known financial newspaper published a long report on its website, newspapers, magazines, Weibo, vx and many other media.

The content of the report is almost the same as the self-media content of the previous few days.

But unlike the self-media, the content reported by this more authoritative newspaper is more trustworthy, especially because it contains a lot of substantive evidence.

“Feiying Agriculture and Animal Husbandry has major financial errors. According to our investigation, Feiying Agriculture and Animal Husbandry and its auditing agency have serious fraud.”

“…The company has reported that there are now 260,000 live pigs, but according to our actual site survey, it is estimated that the entire company will only have 130,000 at most, and possibly even less.”

“Feiying Agriculture and Animal Husbandry lost more than 3 billion yuan last year, which is seriously inconsistent with the data on its financial statements, and there is no omission in content such as illegal related transactions.”

“…We seriously suspect that the 800 million yuan bond of Feiying Agriculture and Animal Husbandry that will expire in two months cannot be repaid, and we have doubts about the company’s cash position!”

Various on-site photos were exposed in batches, and various detailed data were conclusive. In particular, a detailed comparison between the revised financial statements and the current corporate statements was made.

The crimson numbers and the “minus” sign in the whole report are shocking.

In an instant, the stock market was full of turmoil and 25 shocks. Professional media was more authoritative than self-media. In particular, the presentation of so many detailed data and the self-confidence of those media reporters made investors panic.

If such a big incident occurs, the China Securities Regulatory Commission will almost certainly intervene and conduct detailed investigations. It may even involve criminal liability for some illegal activities.

On the first day, the stock plummeted by 13.45%, and on the second day it fell again by 9.85%, because the Hong Kong stock market did not have a circuit breaker mechanism, and the stock price almost plummeted.

Although the domino effect is not likely to collapse in one fell swoop, the cliff-like stock price curve and red mark still shock people.

In addition to the Feiying agricultural and animal husbandry enterprises themselves, those investors are even more worried.

Especially those investors who enter the market at a high position, do not know whether to stop the loss in time or continue to insist at this time.

After all, as the first domestic pig farming stock in the animal husbandry industry, as one of the few high-ranking large enterprises in southern Henan, people do not believe that it will completely collapse.

But for some people who enter the market at a low price, leaving at this time is the best way to make less money, but somehow they will make money after all.

The only people who can be sure that they have lost a lot of money are those who went long when the stocks were strong before.

At this time of desperation, Feiying Farmers and Animal Husbandry also knew that he was bound to die if he died.

Therefore, the entire enterprise was forced to admit that the financial statements were false, and released the latest statistics, completely negating the previous statements.

“The company’s total operating income was 5.447 billion yuan, a year-on-year decrease of 10.56%; the net profit attributable to listed companies was 646 million yuan, a year-on-year decrease of 25.64%.”

“…The total loss of the entire company in 17 years was 3.3 billion yuan, and the loss in 18 years is expected to be between 2.5 and 3.2 billion yuan.”

“Due to the expansion of business operations, there has been a cash flow rupture due to poor management, excessive debt ratios, and financial deleveraging, and the rupture of cash flow has caused problems in breeding, which has led to the starvation of pigs.”(Read more @ wuxiax.com)

“…”

Feiying Farmers and Animal Husbandry personally admitted that it caused an uproar. It is no small matter to be involved in financial scandals and admit that the statements are falsified. Let alone the enquiries that may be faced later and the responsibilities of the head of the enterprise.

The most intuitive phenomenon is that the stock price continued to leak wildly, and because Feiying Agriculture and Animal Husbandry admitted to financial fraud, its auditing company was also held accountable.

The companies audited under the name of this auditing company are even more distrusted by investors. It can be said that the auditing agency has no credit, which means that it is completely bankrupt.

Fortunately, this audit institution is not large, but it is impossible for those large audit institutions to dare to engage in fraud with Feiying Agriculture and Animal Husbandry.

In the end, the credit rating agency believed that Feiying Agriculture and Animal Husbandry was likely to be unable to repay the debt of 800 million yuan that was about to expire, thus lowering its credit rating from aa- to c.

This almost means that no one dared to lend to this company, and all banks would shut it out. Whoever dared to borrow would be a direct death, and the handler could investigate whether he had taken bribes.

The self-media, which was sent a lawyer’s letter by Feiying Agriculture and Animal Husbandry before, issued a new report for fear that the world will not be chaotic.

“Shocked, is it possible that Xiangjiang stock is about to give birth to a penny stock that plunges 98% a day? 》

…

The villa in southern Henan was in a mess. Hao Yuanning was sitting on the sofa with bloodshot eyes, with a wine bottle next to him.

More than two weeks this week may be the most painful and worrying time in his life.

In less than two weeks, he saw what it means to be a mansion.

A company with a market value of 27 billion yuan fell by more than 60% in two weeks. The total assets of their Hao family were nearly 11 billion yuan two weeks ago, but only two weeks later, only left was left. Four billion.

This is the property of the entire family!

The reason why the company still has this part of the valuation is because although the company’s financials are fraudulent, those assets are also real.

Even if the number of livestock in the entire enterprise is not as high as previously stated in the fraud, it is still half of the total.

Although the pork market was sluggish before, there are signs of recovery. The remaining nearly 100,000 pigs are the last capital of the company and the bargaining chip for a comeback.

So even if the stocks fell off the cliff, the total family assets were reduced by more than half, and the entire 17 billion yuan evaporated directly in the stock market, but at any rate it slowed down.

Although the company will face accountability next, the foundation of the company is still there, and the local officials will not move too hard to make them completely ruined.

Now even if the company is already a little insolvent, but it can survive anyway, even if they are so miserable, but they are better than those of the working class, they can still live in big villas and drive luxury cars.

Hao Yuanning prayed in her heart that this matter could be over quickly, even if the things facing later are still difficult, but no matter how hard it is, it is impossible to be more painful than it is now.

However, although the vast majority of investors and speculators have lost disastrously, the short-selling institutions behind the scenes that have been prepared before should be full of profits at this time.

Even if most of the 17 billion evaporating money is false, there is always real money flowing into the other party’s pocket.

Hao Yuanning thought fiercely.

He actually wants to know who is shorting his company, but what if he knows it?

…

“Mr. Chen, we have been in a stable for two days. After finishing the final preparations, we can kill with one blow.”

“…I have a rough idea. Now our net income of 700 has exceeded one billion, but this is not enough. We can continue to make a lot of money!”

“HeungKong’s stock market has some rules that are quite fucking. It does not have a delisting mechanism, but it does have an unlimited trading suspension mechanism.”

“…There have been short-selling companies before, and the company directly used a two-year suspension to make those short-sellers leave in disgrace. If we continue to short-selling, people are likely to use such disgusting tricks against us.”

Qiu Lei looked at the numbers on the account and said with jealousy.

They still have the last chance, and they can still fight. You see, the market value of this company still has nearly 10 billion yuan, and this 10 billion li can continue to squeeze out money!

In Qiu Lei’s eyes, Feiying Farming and Husbandry had become a golden rooster laying eggs, and all the golden eggs were laid out. The money came out faster than Bank X.

“Well, it’s time to end this farce.”

After thinking about it, Chen Yi sent a message to his other subordinate. All the preparations were done. Then, as long as he acted in a play, he could get what he wanted without spending a penny.

He likes this kind of strategizing, the feeling of playing with people in the palm of his hand when he is behind the scenes, maybe until now, Hao Yuanning still doesn’t know who is arranging their house.

This is not private enmity, but pure Chen Yi’s greed. If Hao Yuanning and his company are okay, then Chen Yi would not be able to do so to death even with the help of the sky.

To blame, they can only blame themselves for their own problems. They fraudulently gave Chen Yi the opportunity to not only avenge his personal revenge, but also obtain a huge amount of wealth.

The body is not afraid of the shadow leaning, the ancestors sincerely do not deceive me! .

Read more @ wuxiax.com. Chinese MTL Fan-Fiction/Second Element novel can be read @ HotMTLNovel for free.