Rebirth of the Financial Crisis Sweeping the World

  Chapter 177 177 Expenditure 5.5 billion funds dried up, the bank draws a loan!

After Hong Tianwen left, Lu Yinhe sat on the sofa, lost in thought.

  To be honest, the borrowing of 500 million Hong Kong dollars this time is not to increase the stock price, but to maintain the stock price.

  500 million Hong Kong dollars can buy 100 million shares. He doesn't believe that this black shirt insurance company can still short 100 million shares?

  At the end of the day today, he was also frightened, and this time underestimated the strength of the black shirt insurance company.

  Unexpectedly, it was true that the Black Shirt Insurance Company originally said that it would use 2 billion Hong Kong dollars to short Galaxy Entertainment Group!

  No bragging, no frightening.

  And they actually thought that the black shirt insurance company was just using 500 million to 1 billion Hong Kong dollars in funds.

  Today they suffered a big loss, and the family’s private funds were also consumed by the Black Shirt Insurance Company.

   After thinking for a while, he asked, "How is the situation with the black shirt insurance company?"

  Now he is most concerned about how much money the black shirt insurance company has to short the Galaxy Entertainment Group.

  The Galaxy Entertainment Group is the largest company in the Lu family and the most profitable company.

  This time the shareholding ratio increased from 45% to 60%, which consumed 3.2 billion Hong Kong dollars.

  And their family's private funds have dried up.

  At this time, the special assistant Feng Tianmin stepped forward and said respectfully: "Chairman, I've found out."

  Lu Yinhe asked anxiously: "How much money do they have?"

  Feng Tianmin said seriously: “The black shirt insurance company has no excess funds to short.

  Behind the black shirt insurance company is the Fung family of Wing Hang Bank.

  The funds of the entire insurance company are stored in Wing Hang Bank.

  I heard that Wing Hang Bank also loaned 500 million Hong Kong dollars to the Black Shirt Insurance Company.”

  Thinking about it for a while and he continued: “Currently, the Black Shirt Insurance Company still owes 500 million Hong Kong dollars to China Merchants Bank’s China Merchants Wing Lung Bank, 500 million Hong Kong dollars to Get Good Credit Co., and Wing Hang Bank 500 million Hong Kong dollars.

  A total of 1.5 billion Hong Kong dollars in loans owed to the bank!

  The bank that mainly supports it is Wing Hang Bank. "

  Insurance companies have liability reserves. I heard that this black shirt insurance company has a high proportion of liability reserves, and these liability reserves are stored in Wing Hang Bank.

   Then he took out another report, which was provided by the undercover agent in the black shirt insurance company.

  The total assets of the black shirt insurance company are 15 billion, financial assets 5.1 billion, cash flow 2 billion, real estate 900 million, and liability reserves 7 billion.

  The total debt is 15 billion, of which 500 million is a loan from China Merchants Bank, 500 million is a loan from Get Good Credit Company, and 500 million is a loan from Wing Hang Bank

  Currently, the net assets of the black shirt insurance are negative HK$200 million.

  Lu Yinhe looked at the black shirt insurance company owed the bank a loan of 1.5 billion Hong Kong dollars, and he was immediately relieved.

  Now the cash flow of the black shirt insurance company has been exhausted on the stock of Galaxy Entertainment Group.

  The cash flow of HK$2 billion is definitely gone, and the bank still owes 1.5 billion loans.

  The longer the time delays, the black shirt insurance company will be finished, and even the interest will not be paid.

  The net assets are already negative 200 million Hong Kong dollars. If it continues to be negative, the Securities Regulatory Commission will take action. This is obviously insolvent!

   "It's done!"

Lv Qihui beside    couldn't help but said: "This black shirt insurance company is really crazy, and it's irresponsible!"

   "Father, the black shirt insurance short stocks are all borrowed, and the daily interest rate is also very high. As long as we drag it down and consume it, the black shirt insurance company won't even pay the interest."

  Lu Yinhe nodded: "This 500 million Hong Kong dollar fund may not be used anymore."

  The black shirt insurance company is now the mud bodhisattva crossing the river and it is difficult to protect itself. Where can there be the ability to continue to short Galaxy Entertainment Group?

  He regrets the mortgage of 500 million Hong Kong dollars for the villa.

  It was just a false alarm, because I was too nervous.

  At this time, Lu Qihui suggested again: "Father, we can continue to fix it and kill it!

  In the news, the black shirt insurance company has falsified financial affairs, abused funds in violation of regulations, and became insolvent a long time ago, and has been falsifying financial affairs!

  And Wing Hang Bank cooperates with the fake, let the Securities Regulatory Commission investigate it! "

  Since this time, Get Hao Financial Group, Galaxy Entertainment Group and a series of partners have been working on the black shirt insurance company.

Moreover, when the Black Shirt Insurance Company privatized Convoy Global Insurance Company, it was illegally manipulating the stock price, pitting many ordinary shareholders, privately giving major shareholders a 20% premium, and buying major shareholders at a price of 120 million Hong Kong dollars per share. stock.

  And privatizing the stocks in the hands of stockholders at a price of 1.00 yuan per share, this 20% premium difference is enough to make the black shirt insurance company suffer a heavy blow.

  At present, a class action lawsuit has been filed by retail investors for compensation.

  There is also the employees who have bought the insurance policy of the black shirt insurance company are also launching a surrender, a class action lawsuit!

  These lawsuits are settled one by one, without 50 million Hong Kong dollars, it can't be done!

  Now it is very useful to continue suing the Black Shirt Insurance Company for financial fraud and insolvency.

  At that time, China Merchants Bank draws loans, and Get Well Financial Group can also draw loans in this name.

  Now the black shirt insurance company has no cash flow, he does not believe that this black shirt insurance company is not finished!

  At that time, the Galaxy Entertainment Group’s stock had to be closed, and the company suffered a huge loss, and then the company died and was acquired.

  Lv Yinhe was very happy when he heard this. This little son, Lv Qihui, has so many bad ideas. This is a good way.

   "Okay, just do it!"

  "Father, then I will arrange it." After saying that, Lu Qihui hurriedly arranged.

  Although the private funds of the Lu family have dried up, there are still many companies under the Lu family.

  Not only the Galaxy Entertainment Group, this Galaxy Entertainment Group is just the largest enterprise.

  Lu Qihui just left, Lu Yinhe's phone rang.

   was called from the eldest daughter Lu Yufang in the United States.

  It is said that the Stanford Hotel Group in the United States has suffered a serious impact.

   was borrowed by Citibank and urgently needed US$300 million in funds.

  Otherwise, the Stanford Hotel Group will be over and will be acquired by a hotel group in the United States.

  The Lu family has industries all over the world, covering Singapore, Hong Kong, Thailand, the United States, and the United Kingdom.

  Unexpectedly, there was a problem with the Stanford Hotel in the United States.

  In 2006, Stanford Hotel Group acquired a lot of hotels. When the funds were insufficient, they looked for bank loans, and the scale became larger and larger.

  He was complacent for a while.

  Unexpectedly, the US economy was very bad this year, and the real estate collapse caused the value of many hotels to plummet.

  The price of their Stanford Hotel was very high when they acquired the hotel, but now it is very bad.

  Need 300 million US dollars of capital.

  300 million US dollars is more than 2.3 billion Hong Kong dollars!

  The family currently has 500 million Hong Kong dollars in funds, and they still mortgaged the villa.

  Except for the Galaxy Entertainment Group, the family business does not have much capital flow, and the scale is not large. It would be good to mobilize 300 million Hong Kong dollars.

  And Galaxy Entertainment Group has ample funds. It is no problem to mobilize 1.5 billion Hong Kong dollars, but it has places where it needs to be used!

  Lu Yinhe was lost in thought.

  Family funds spent only HK$3.2 billion for the Galaxy Entertainment Group, and just borrowed HK$500 million.

  Can't borrow anymore.

  Anyway, the Lu family now holds 60% of the shares of Galaxy Entertainment Group. The funds of Galaxy Entertainment Group can be invested wherever they want to invest.

  But this thing has to be done sneakily, and the outside world should not know that Galaxy Entertainment Group used 1.5 billion Hong Kong dollars to rescue the Lu family’s Stanford Hotel Group in the United States.

  Just do it!

  He hurriedly raised funds. The family’s funds were 500 million Hong Kong dollars, Galaxy Entertainment Group 1.5 billion Hong Kong dollars, and other companies in the family raised 300 million Hong Kong dollars to form an investment fund.

   A total of 2.3 billion Hong Kong dollars was invested overnight in the Stanford Hotel Group in the United States to solve the family’s industrial crisis in the United States.

  There was no more than 2.3 billion Hong Kong dollars this time, leaving the Lu family and the family business in short supply.

  Finally, the working capital of HK$5.2 billion is gone.

  Lu Yinhe couldn't help but smoke a cigar to ease the sense of urgency.

   Soon the negative news about the black shirt insurance company, the financial fraud, and the news that it was already insolvent, were published by the media under the Galaxy Entertainment Group's cooperation, and it was still headline news.

  ··

8pm.

  Wang Guanxi, Feng Shaokun and Zhou Tianjing were dining at Ming Pavilion.

  This is a rare high-end Cantonese restaurant in Mong Kok. It is located on the 6th floor of Cordis. It is elegantly decorated with bronzes and full of antiques.

  A variety of wines are provided here, and the waiter will also assist customers in choosing the right wine to go with the dishes.

  The three of them ordered the signature dishes, the Supreme Honey Sauce Barbecued Pork, Cheese Baked Stuffed Crab Cover, Ming Court Fried Chicken.

  Of course, there are also dragon emperor wearing golden armor, teapot with clear soup of matsutake and bamboo fungus, and fresh pepper Dongxing spot ball··These lovely dishes.

  Feng Shaokun was eating barbecued pork and couldn’t help asking: “Guanxi, what happened to the Black Shirt Insurance Company’s battle against the Lu family today?”

  He has been busy today, so he just took a look at the stock price of Galaxy Entertainment Group. The fluctuations are indeed very intense and the trading volume is very large.

   And after Zhou Tianjing cut open a piece of fried chicken, he also said: "Today I saw the stock price soaring and plummeting. What happened to the battle?

  How many million shares did you sell today? "

  He had a holiday with Lu Qihui of the Lu family. This time, the black shirt insurance company shorted the Galaxy Entertainment Group. He has been staring, hoping that the Galaxy Entertainment Group’s stock price will plummet, but it has risen and fallen sharply.

  Wang Guanxi said lightly: "It's only 400 million shares!"

  Feng Shaokun and Zhou Tianjing, when they heard it, they looked at Wang Guanxi in amazement, and the little knives and forks in their hands fell on the table.

  Ding·Ding·Ding!

  The two are terribly horrified!

  400 million shares, that is, the sale of stocks worth more than 2.2 billion Hong Kong dollars. The Lu family still took over. One can imagine the financial resources of the Lu family!

   Then Feng Shaokun quickly opened the stock price chart and took a look.

  Today, Galaxy Entertainment Group’s stock price opened at 5.84. Although it soared and plummeted during the period, it closed at 5.40.

  Feng Shaokun couldn’t help but said, “Guanxi, it’s okay this time? You shorted 400 million shares, worth at least HK$2.2 billion. You actually suppressed the stock price by 0.44 yuan?”

  This is not a good thing.

  Wang Guanxi’s black shirt insurance company sold 400 million shares, and the stock price fell by 0.44 yuan, which is simply too tragic.

  This Lu family is a tiger, and the tiger’s **** can’t be touched.

  What should I do if the stock price cannot go down now?

  400 million shares are borrowed, and a lot of interest is paid every day, but the black shirt insurance company is entangled in lawsuits and a lot of negative news. What can I do?

   Zhou Tianjing also said: "Guanxi, this time the black shirt insurance company is in danger"

  Selling stocks with a price value of more than 2.2 billion Hong Kong dollars, the stock price has fallen so little. This time you may have to lose a lot of money. It is really hard to believe what the short-headed black-shirt insurance company will face next.

  Wang Guanxi smiled faintly: "It's okay, it should be the Lu family that is dangerous!

  This time, the black shirt insurance company consumed a lot of their funds at a high level!

  If the situation changes, their Lu family will have no money to protect the plate. If they have money, they dare not protect the plate."

  This time consumes so much money from the Lu family. When the financial tsunami strikes, the Lu family can’t come up with funds to save the family business, and Galaxy Entertainment Group may have to go bankrupt.

  At this time, the news media is also reporting negative news about the black shirt insurance company, financial fraud, misuse of funds, incompatibility, and manipulation of stock prices··

  Fortunately, the Black Shirt Insurance Company is not a listed company, otherwise tomorrow’s stock price will definitely be sold off.

  Wang Guanxi didn’t care about this, but it was just a lawsuit. If they didn’t win, they would drag on, consume each other’s legal fees and time. If they couldn’t drag on, they would settle.

  After dinner, everyone went to play snooker.

  Just after finishing a round, CEO Huang Shao called over.

  Connected, Wang Guanxi asked: "What's the matter?"

  Huang Shaokai said nervously on the phone: “BOSS, China Merchants Bank wants to draw loans from us, urging us to repay. Get a good credit company is also urging us to repay based on our financial fraud.”

  "The company does not have enough cash now, they suspect that our finances are fraudulent..."

  Today, the news of the financial fraud of the black shirt insurance company was published in the headlines of the media by Lv Qihui.

  In the evening, two bricks were hired. During the conversation, the topic was about fraudulent property and insolvency of the black shirt insurance company.

   also revealed that the black shirt insurance company manipulated the stock price and pitted stockholders during the privatization, and asked the Hong Kong Securities Regulatory Commission to investigate this matter.

   also encouraged all shareholders of the original Convoy Global Insurance Company to join the class action, and let the black shirt insurance company compensate an additional 20 million Hong Kong dollars.

  The Lu family is really sinister.

  Wang Guanxi thought for a while and said: "Let's drag it down first, tell them to repay after five days, drag it first."

  Jiehao Credit Co., Ltd. was originally discussed at the Convoy Global Insurance Company’s shareholders meeting that day. Unexpectedly, the Jiehao Financial Group turned its face again.

  Moreover, China Merchants Bank will also come to draw loans, obviously suspecting that the black shirt insurance funds are insolvent.

  Now the black shirt insurance company is indeed out of money, continue to drag it first.

  "The matter of financial fraud, misuse of funds, and insolvency, please also clarify, and then let the Black Shirt Legal Company sue Galaxy Entertainment Group..."

  "Yes, BOSS" ended the call, and Huang Shaokai took a few vice presidents to do it quickly.

  (End of this chapter)