Chapter 123: A Wise Man Thinks a Lot
On Li Yuan's side, the fund's positions have been fully filled.
The total amount is only 5.4 billion. At the closing stage, the maximum amount that can be deposited is around 530 million.
It had already exceeded the limit before, and it was only after selling for 80 or 90 million that it was brought down to a reasonable range.
However, as the stock price approached the limit, his capital positions increased.
Because the holding loss was 100 million, 120 million could be replenished at the limit down point.
If the stock price rises, causing the capital ratio to exceed 9.98%, it is not considered a violation as long as it does not exceed it during the buying phase.
If Li Yuan wants to make a move, he must bring down the stock price.
At this moment, he suddenly realized a problem.
I don’t trade personally, so I’m not very clear about my position situation, but the trader is definitely not an idiot!
Do they have no idea about the stocks they are responsible for? Do they not know what the buy limit is?
I exceeded the limit, but I didn’t even remind myself.
Even if the person you are looking for is not a powerful one, you should still understand the most basic common sense.
"Small orders are placed at the price limit of Lianying Technology. No chips above this price will be accepted!"
The other party lost so many chips today, and he was able to hold back on grabbing even when the price hit the limit down. This is enough to show that he is a very powerful character. It will not be effective if he places a large order, so it is better for him to place small orders and slowly take the chips.
If one party is targeting me, then it's still okay. Neither side has too many bargaining chips, and today we have already reached the limit.
What I fear most is that several companies are trying to make a fortune from me.
Of today's 2.9 billion, only about 1.6 billion have entered the market so far, leaving 1.3 billion to go.
Lianying Technology is in a very bad situation today, and it must make its net value look better.
The remaining 1.3 billion can only be used to buy some high-risk tickets.
Otherwise, there would be no way to make up for the 100 million yuan loss on Lianying Technology.
Slowly, I finally made it to the closing time.
Li Yuan didn't even look at the transaction results and went straight home.
At twelve o'clock at night, the net value of the day was updated.
1.0879 (+3.4%)
The net worth is positive, but the difficulties remain.
And he saw the margin lending quota situation.
The margin lending quota of more than 500 million has now become zero.
This is simply not something that can be done by one person or one force.
Some people specifically chose Lianying Technology because it has a high upper limit, a low lower limit, and a not low market value.
With a market value of 20 billion, if you really want to scam it, you can lose 1 billion.
Cut the meat and run? That's not his character.
Now that you are here, make good money!
He sent a message to Yu Yue, asking him to call the brokerage firm and ask them to check who had looked at his account.
Although he felt that the brokerage firm was unlikely to do such a thing, he still had to rule it out.
There are not many people at the brokerage firm who have the authority to view accounts at will, and records are kept every time, so it is not difficult to find out the truth.
Although he had no direct evidence, anyone who saw it would have doubts.
The call was quickly returned, and many senior executives from the brokerage firm had looked at it. After all, Li Yuan chose a small brokerage firm, and it just so happened that Qingtian Capital had a lot of money in the past two days.
However, they only looked at the funds and did not check the specific holdings, which is recorded.
Li Yuan already had an idea in his mind.
Securities firms are indeed reluctant to do such things. Once something goes wrong, small securities firms cannot take the blame.
Moreover, brokerage firms are subject to very strict supervision , and illegal short selling is basically the limit. If they dare to engage in insider trading, not only will they be fined to the point of bankruptcy, but if the amount involved is large, many people will be implicated.
Wednesday.
Lianying Technology opened three points lower, and on that day, Qingtian Capital once again increased its subscription funds by 300 million.
At the same time, there is a subscription limit.
Many people who wanted to buy the Skyworth Mixed Small and Mid-Cap Fund have discovered this situation.
"What the hell, what does that mean? Why is there a limit on subscription? Only 50,000 yuan per person? This is bullshit!"
"Are you getting carried away, Yuanshen? You don't even want the money I give you?"
"You are so awesome, why don't you do private equity? Don't you have the ability to do private equity? You trade small amounts of money to gain some popularity, and then you can make money easily? Rich people are not that stupid, and they won't give you money easily."
"It is now basically certain that Li Yuan is doing the opposite. The net value was 5 points on the first day, but only a pitiful 3 points on the second day. It may only be 1 point today. I advise everyone who wants to redeem to hurry up. They have already designed it. The subscription fee and management fee. If you withdraw now, you will have to bear the 1.5% redemption default fee. You will have to give up more than half of the 9 points of profit in two days."
"This is still considered good. If it continues for a few days, who knows how much it will fall. If I have to bear the high redemption fees at that time, I will definitely lose money!"
Under Li Yuan’s video, a group of speeches with rhythm began to appear.
Although some people have refuted it, it cannot be suppressed in any way and continues to spread.
Some people were really affected and started redeeming their funds.
Yu Yue knew about the large-scale redemption at the first time. Occasionally, some people redeemed in the past few days, but the total amount did not exceed one million. Maybe something happened.
But today, in less than two hours, there were more than 60 million fund redemption applications.
At half past eleven, after Li Yuan came out of the trading room, Yu Yue told him about this matter.
"Only 60 million to redeem it, right?"
Li Yuan asked.
"Boss, 60 million is not a small amount. These people are willing to leave even if they have to pay the redemption fee. I'm afraid they won't come back again... There are too many people trying to stir up trouble now. Boss, why don't you close the comment section of that account?"
There are too many comments to delete.
Besides, it would be better to just close the comment section instead of deleting the comments, to prevent someone from continuing to delete the comments.
Unexpectedly, Li Yuan didn't care at all and said, "Since they are willing to listen to other people's one-sided words, let them go. Oh, and control the news. If anyone asks, just say that the redemption is more than 600 million."
"ah?"
Li Yuan smiled and said nothing more.
It is difficult to run a company because no one knows whether they will be betrayed.
Especially when it comes to finance, any piece of news can become a breakthrough for others.
He didn't know if Yu Yue was the one who sold the information, so he could only test him little by little.
When the market opened at 1 p.m., he directly told the trader: "The company encountered a large amount of redemption applications today. Other stocks are difficult to move. Let's take out some funds from Lianying Technology, 100 million first, and sell the remaining 400 million in the morning market tomorrow to deal with the redemption."
Funds are all T+2. If you redeem on Wednesday, the funds will be credited to your account on Friday.
As for the fund company, it only needs to sell stocks and prepare funds.
Guo Meng felt very upset when he heard that Li Yuan was going to cut 500 million yuan to deal with the redemption.
Because Li Yuan's other operations were perfect except for Lianying Technology, where he was tricked. Currently, the loss on a single stock has exceeded 120 million.
If we lose another 100 million today and the stock price drops by several points, the loss may reach 150 million.
This is a vicious cycle.
It may even drag down other market conditions.
There are frequent portfolio adjustments today, and there is not much room for maneuver.
Only Lianying Technology can come up with so much money.
Four hundred million tomorrow will probably push Lianying Technology directly to its limit down.
Then... Li Yuan will lose at least 200 million on Lianying Technology.
It basically wiped out the gains on the second day.
On Tuesday, if Lianying Technology had not lost 100 million yuan, it would have made 260 million yuan, and the net value should have increased by about five points.
The actual time was just past three o'clock.
For the first time, she saw resentment on Li Yuan's face.
This is a huge disaster for the Qingtian Mixed Small and Medium Cap Fund, which is determined to make a big splash.
Finally, it made it to the closing time.
There is no doubt that Lianying Technology was hit by the limit down by the Qingtian Mixed Small and Medium Cap Fund, otherwise there would be no way that 100 million yuan of funds could come out.
With this level of commitment, I'm afraid we won't be able to get the remaining 370 million by tomorrow.
A total of 620 million was invested, and now only 100 million is left, plus stocks worth 370 million. Tomorrow, this part of stocks will lose more than 30 million.
If you can’t escape, you will continue to lose money.
It has been basically confirmed that the loss will bottom out at 200 million.
After the market closed, Li Yuan still didn't look at anything and left the company directly.
After Li Yuan came back, he has been looking into the equity changes of Lianying Technology.
After two days of sharp decline, Lianying Technology's market value has fallen to 18 billion.
If it falls further, it will be infinitely close to 16 billion.
The market value of this kind of electronics factory is entirely supported by its performance, because there is nothing that can increase its price-to-earnings ratio.
The technology is average, and compared with other electronics factories, it has no advantages, either in management or connections.
It is by relying on its strong scale and a price-earnings ratio of around 13 that it has managed to support a market value of more than 20 billion yuan.
When the market value drops to around 16 billion, the price-to-earnings ratio will become 9, and a bunch of bulls will appear out of thin air at this position.
Because value investing should be taken into consideration at this time.
This is not like a short-term explosive market that leads to a trap with an extremely low price-to-earnings ratio. This is simply an expectation generated by the underestimation of market value.
Li Yuan would not do anything illegal, such as joining forces with others to fight back against himself, as that would be meaningless.
All he has to do is borrow...
Kill the other party within the reasonable and legal scope of operation!
At twelve o'clock that evening, the net value of the third day came out.
1.1102 (+2.05%)
As some people expected, it fell further today, but it did not fall directly to a point as some people said.
In just three trading days, Li Yuan has earned 11 points, which would have been blown away if it were placed in other funds.
After all, the overall market conditions are not good.
But in Li Yuan's case, the data was so good on the first day, but it deteriorated little by little in the next two days. The suspicion of counter-party trading increased sharply, which naturally caused dissatisfaction among many investors.
The redemption quota was further increased, but they could not get the money this week and had to wait until next week.
So even if there really is a redemption of 600 million, Li Yuan is not afraid.
He has plenty of ways to replenish his funds.
Thursday is here as expected...
After the market opened, a shocking scene occurred at Lianying Technology.
Directly limit down!
The funds for the order reached 300 million.
Li Yuan smiled.
Even the way out is blocked.
Obviously, the opponent was not willing to let him leave with a loss of 200 million yuan, and wanted him to lose more.
In other words, what he said in the trading room yesterday was known to others.
It wasn't Yu Yue who leaked it. If it was Yu Yue, he would know that there was only more than 60 million in redemption and he wouldn't be so anxious.
That means the people in the trading room...
Of course, it is not ruled out that the people in the trading room let people outside the trading room know through internal communication.
In short, apart from himself and Yu Yue, there must be someone who is a traitor in the company, this is certain.
The trader in the trading room is the most suspicious.
…
Inside the conference room of Lianying Technology.
There is a large screen behind Chairman Feng Tianming, which clearly displays the stock price of Lianying Technology.
After he and others arrived, he said directly: "Everyone has seen the situation. Someone is shorting us. The current market value has been reduced to only 16.2 billion. I don't want to say more, and I don't want to speculate whether there are insiders working with them. In short, I can accept the fluctuations in Lianying Technology's stock price, but I can't accept being hit by three consecutive limit downs! In this situation, what do our investors think? Will there be retail investors who dare to enter the market to buy our stocks in the future? Will the stocks we hold still be valuable in the future?"
The most important thing about stocks is reputation. If you ruin your reputation and make everyone lose money, people will not want to play the stock market anymore.
Restoring investors' confidence in them is not something that can be done in a short period of time and requires a lot of money.
Those present were all management, and they all held some stocks to a greater or lesser extent. The stock market was their money printing machine, and they did not want to see Lianying Technology lose the ability to cash out in the secondary market.
If something goes wrong, if there are any problems with Lianying Technology’s business in the future, they won’t be able to find anyone to take over.
Feng Tianming said: "I personally plan to increase my holdings by 300 million, and I will take out 90% of the net profit as dividends this year..."
The situation was still easy to deal with at the beginning, as the company's major shareholders came out to endorse the company, causing the short-selling funds to be more restrained.
The latter is for all shareholders.
The company's annual net profit is around 1.8 billion, and it uses the profits for expansion almost every year.
This year's dividend distribution is 90%, which means more than 1.6 billion yuan in dividends.
Based on the current stock price, it’s a full ten points.
This is much better than using it to increase wages on a normal day.
Because the personal income tax on wages is very high, while stock dividends only require 20% tax deduction.
After all, their annual salary starts at several million. If they want to get more money, the subsequent personal income tax threshold is 45%. A dividend of 5 million is almost equivalent to an increase of 8 million in salary.
Moreover, they basically have stocks worth hundreds of millions of dollars and can easily share tens of millions of profits.
"Chairman, those guys are really outrageous. We should set an example for the shareholders! I am only half a point away from raising my placard. I will raise my placard today!"
A major shareholder has spoken.
Others don’t want to miss out on this dividend either. Even if the stock price goes up a little more, it will still be a good deal.
Anyway, the invested money has turned into stocks and will not be less for the time being.
Feng Tianming glanced at the screen behind him and saw that the order of 300 million yuan had suddenly been reduced by 100 million yuan.
So he said, "Then everyone should hurry back and prepare. How dare a bunch of clowns come to our territory and make trouble? I want to see where they get the stocks they borrowed!"
He wasn't that angry after being hit two days ago
If the stock hadn't hit the limit down today, he wouldn't have been so aggressive.
