Chapter 483: Targeted Share Offering

Chen Yang, was that Hong Kong island news leaked by you? Online, the news about Jiangshan Automobile's impending targeted share offering caused an uproar, and Yexin's first thought was that Chen Yang was stirring up trouble.

Because she knew Chen Yang's relationship with Zhu Zhu was anything but ordinary. As the latter was a Hong Kong elite family, having a few financial media people release some mainland financial news was very easy.

Moreover, even if this news were false, Jiangshan Automobile Group would need time to sue the other party. That time would be enough to drag Wang Haifeng and Zheng Weimin into the mire, leaving them unable to get out.

"Sister Xin, the Hong Kong island news wasn't sent by me; maybe it's actually true..." Chen Yang didn't want to confess to Yexin, because he couldn't explain the source of the news about Jiangshan Automobile's impending targeted share offering. He couldn't possibly say: "In my past life I fell flat on my face in this pit, so the impression is deep."

"If it's true, then Wang Haifeng will at least have to eat another limit-down this time." Yexin didn't want to investigate the news's truthfulness; as long as Wang Haiyang and the shareholders of Wuyou Residence lost money, she would be very happy.

"Looks like I'll have to turn off my phone for a while!" Chen Yang clearly understood that the more Wang Haifeng's people lost this time, the crazier their retaliation would be. After thinking, he told Yexin: "Sister Xin, please remember to strengthen security recently, and try not to let strangers enter Jiangmen Dao."

Yexin said: "All the property on Jiangmen Dao has been taken over by me, and all the security personnel have been replaced with my own people. If Wang Haifeng comes here to cause trouble, he's probably knocked on the wrong door."

Chen Yang breathed a sigh of relief upon hearing that she had strengthened security.

The next morning, the sound of a computer monitor being smashed came again from the large client room of East River Securities.

Because Jiangshan Automobile hit another limit-down during the collective bidding auction.

This time the locked order wasn't 300,000 lots, but a desperate 1,300,000 lots.

"Dr. Tian, what should we do now?" Wang Haifeng stared coldly at Tian Wen, now deeply regretting having listened to his advice. If they had lifted the limit-up yesterday, they would have already withdrawn most of their funds!

"Chairman Wang, don't panic." Facing Wang Haifeng's questioning, Tian Wen's expression remained calm. "If the funds from Jiangshan Automobile Group's targeted share offering are used to expand the company's business or develop new projects, in the long run it should be good news."

Wang Haifeng snorted coldly: "If it's good news, why is today's situation worse than yesterday's?"

Tian Wen sighed and explained: "Most shareholders lack discernment; they believe rumors at face value. Upon hearing some analysts say that targeted share offerings would dilute their equity and devalue their stocks, they become so frightened they can't sleep."

"Actually, the shares issued via targeted placement are directed at institutions and large capital through non-public offerings, and in the short term they do not affect shareholders' interests at all."

This time Wang Haifeng understood Tian Wen's meaning, and he said: "Dr. Tian, shouldn't we find some people to explain online the benefits of targeted share offerings, so that retail investors would stop selling their shares?"

Tian Wen shook his head and said: "Our explanations now are useless. It must be the senior management of Jiangshan Automobile Group who first come forward to clarify the truth of this news."

"If it's false news, we don't need to waste effort explaining it. If it's true news, we must explain according to its content; only then will it be persuasive."

Wang Haifeng found another computer, opened Jiangshan Automobile Group's official website, saw that they had not yet issued an explanation, and furiously cursed: "What a damn company—its stock has plummeted for three days straight, and they haven't made a peep. Is this company even theirs anymore?"

Tian Wen gently soothed him: "Chairman Wang, perhaps Jiangshan Automobile Group's internal meeting is still ongoing; we should just wait a bit longer. This is such an important matter that they will surely issue an explanation before market close today. Otherwise, even if we don't kick up a fuss, the Securities Commission will go to them for an explanation."

Wang Haifeng looked at Jiangshan Automobile's stock, stuck at the limit-down, sighed helplessly. At this point, besides waiting, he had no better option.

He had invested ten billion yuan this time, and in just three days he had already lost 3.5 billion yuan. Looking at the balance in his stock account, he felt like dragging Zhu Junhao out to flay and bone him.

"Zheng Weimin, you good-for-nothing! I sent you to find Zhu Junhao—how long has it been, and still no word?"

"Chairman Wang, I've already had people watch Jiangmen Dao and Mayor Sun's residence around the clock, but that damned Zhu Junhao just won't show up!" Zheng Weimin looked at Wang Haifeng with a grievous expression; in fact, he hated Zhu Junhao even more than Wang Haifeng did.

Because Wang Haiyang's ten billion yuan came from other shareholders' investment in the East River Second Bridge Old City Renovation Project, even if they lost money, those people wouldn't dare to complain. But his three billion yuan loss was entirely his own money.

Wang Haifeng suddenly thought of someone and immediately asked Zheng Weimin: "Chen Yang, what has that kid been up to these past two days?"

Zheng Weimin said: "I inquired and found that Chen Yang returned to Qingshui City on the day the stock hit limit-down. That guy is surely hiding out at his father-in-law's territory, afraid we'd seek revenge."

Wang Haifeng snorted: "Can a newly promoted prefecture-level city mayor really keep him safe? This kid is far too naive."

Zheng Weimin reminded Wang Haifeng: "Chairman Wang, Lin Jianguo is not only the mayor of Qingshui City, but his influence in the city's political and legal system is deeply entrenched. As long as Chen Yang doesn't leave Qingshui City, you truly have no recourse."

Upon hearing this, Wang Haifeng's face grew even darker. "He likes to hide in Qingshui City, so we'll go after East River New City and the People's Agricultural Products Trading Company. I want to see how long he can endure."

Zheng Weimin hesitated, then whispered to Wang Haifeng: "Chairman Wang, the Provincial Party Committee Secretary Cheng and Governor Liu just visited the People's Agricultural Products Trading Company; if we cause trouble now, will we run into trouble?"

Upon hearing this, Wang Haifeng hesitated for a moment, then told Zheng Weimin: "Don't touch the People's Agricultural Products Trading Company; we can first move against East River New City. Zhu Junhao's acquisition of Aspire Group is actually not legal. If we use this issue to freeze his company, the building materials supply for East River New City will be cut off."

"Then I'll greet the building materials suppliers in Xingcheng and tell them not to supply the International New City project. That way, the project will have to halt indefinitely."

Zheng Weimin wholeheartedly agreed with Wang Haifeng's idea, adding: "The building materials suppliers in Xingcheng won't supply, but they could still buy from elsewhere. I think it's best to also cut off their external procurement channels."

"Your idea is great!" Wang Haifeng directly gave Zheng Weimin a thumbs up.