Rebirth of the Financial Crisis Sweeping the World

Chapter 155 155 Huge loss of 2 billion and market value shrunk by 75%!

Wang Guanxi, who was eating breakfast at the moment, also noticed [Wing Lung Insurance suffered a huge loss of 2 billion].

This news was suddenly released before the market opened. It was really not easy, and it smacked of conspiracy.

Wang Guanxi continued to check the public shareholders of Wing Lung Insurance, including Asia Financial Holding Company, and Wang Guanxi immediately thought of Chen Tianqing.

There are regulations that insurance companies cannot go bankrupt and can only be acquired or merged.

This time Wing Lung Insurance Company must be finished, so the institution that acquired it is likely to be the Asian Financial Holding Company.

This Asian Financial Holding Company is also an insurance company, and its main business is the insurance industry!

Chen Tianqing must have acquired Wing Lung Insurance at the lowest cost. Wing Lung Insurance was also acquired by an insurance company in his previous life.

But Wang Guanxi can't remember which one.

Only now do I know that it was Chen Tianqing who acquired Wing Lung Insurance.

The acquisition price seems to be only 100 million Hong Kong dollars.

Wing Lung Insurance, which was originally 2 billion, was finally acquired by Asia Financial Holdings for 100 million, which is equivalent to the price of cabbage.

Now that Wang Guanxi knew about it, he naturally wouldn't let Chen Tianqing get it so easily. He happened to be short of an insurance company.

Let's see how far Wing Lung Insurance's share price will fall

Hey, I cut you off

`····

Soon the stock market opened, and Chen Tianqing's people began to smash the market crazily.

200,000 shares!

200,000 shares!

200,000 shares!

···

5 million shares sold!

The stock price plummeted!

It fell from the 20.00 position to the 16.00 position.

In the United States, Annis of IndyMac Bond Management is also stupid!

What's going on here, someone smashed the market in advance, and they have no chance to sell at a high level!

sell

Sell Quickly

Yes, Mr. Annis. The traders then began to sell the shares of Wing Lung Insurance. They held 10% of the shares of Wing Lung Insurance, worth 200 million Hong Kong dollars. The 200 million Hong Kong dollars is not too much now. For them who lack funds,

That's meat too.

2 million shares!

2 million shares!

···

Soon Wing Lung Insurance's share price continued to plummet under their selling.

15.00!

14.05!

13.56!

·····

Asia Financial Holdings, Chen Tianqing yelled: Sell more!

Of course he knew that IndyMac Bond Management was selling when the stock was down so badly.

Well, just right, everyone sells together.

Yes, Chairman Traders Continue to Sell

12.40!

11.50!

10.50!

10.00!

Many retail investors were also shocked when they saw the report of Wing Lung Insurance Company’s huge loss of 2 billion Hong Kong dollars. The stock price fell so hard again, they also closed their positions frantically!

The stock price continues to fall!

9.00!

8.00!

···

3.00!

In just one morning session, the share price of Wing Lung Insurance plummeted by 75%, and its market value shrank from 2 billion Hong Kong dollars to 300 million Hong Kong dollars!

The market value lost 1.7 billion Hong Kong dollars in one morning session.

Wang Guanxi was eating lunch, watching the share price of Wing Lung Insurance Co., Ltd. plummeted by 75%, and its market value shrank from 2 billion Hong Kong dollars to 300 million Hong Kong dollars!

It was a total surprise.

Soon he saw the news that Wing Lung Insurance Company suffered a huge loss of 2 billion Hong Kong dollars.

This Wu Zhankun is finished.

The Wu family has already been hit. In order for Wu Zhankun to continue to be in charge of Wing Lung Insurance, Wu Zhankun’s father bought a 40% stake in Wing Lung Insurance from China Merchants Wing Lung Bank for HK$800 million.

Now it's all right, 800 million Hong Kong dollars has become 120 million Hong Kong dollars, which is a miserable loss.

This Wu Zhankun is GG.

Last night Wu Zhankun was still bragging in front of him, saying that Wing Lung Insurance had a market value of 2 billion Hong Kong dollars, and asked him to take out 2 billion Hong Kong dollars!

It's all right now.

NTM's humming, is it still humming now?

Wang Guanxi has a good appetite, eating salad is refreshing.

At this moment, the Culture Hotel, 17th floor, room 1750.

Wu Zhankun just woke up. He was too tired last night and didn't want to get up.

The beautiful model from Ji Yuan Model Company beside him had already left, he turned on the news, and he was completely dumbfounded.

The market value has shrunk by 75% in one morning!

IndyMac went bankrupt, too, and the investment was all over.

His phone dropped to the ground.

A sharp pain struck, as if a knife had been stabbed in my heart.

He doesn't know what to do?

Take funds to protect the market?

It's just sending money in for free, it's useless.

Wing Lung Insurance is insolvent, which is also the fate of being acquired. If you want to avoid being acquired, you have to pay for it yourself.

He hurriedly dressed, and then rushed back to Yonglong Insurance Company.

At the opening of the afternoon session, IndyMac Bond Management continued to sell the shares of Wing Lung Insurance Company. They felt that Wing Lung Insurance would also be dragged down by them and lead to bankruptcy.

Before Wing Lung Insurance goes bankrupt, clear the stocks quickly.

Annis didn't close his eyes all night. The Asian stock market opened today. They were just about to sell the shares of Wing Lung Insurance, but some institutions smashed the market, causing them to sell at a very low price.

Keep Selling, Clear Out

Yes, Mr. Annis. The two traders kept closing their positions.

Coupled with the crazy liquidation of retail investors, the market value of Wing Lung Insurance fell from 300 million Hong Kong dollars to 150 million Hong Kong dollars!

The total share capital is 100 million shares, and the stock price is fixed at 1.5 yuan per share.

A retail investor exclaimed: My God, the share price of Wing Lung Insurance fell from 20.00 yuan per share to 1.5 yuan per share today, and the market value has shrunk by 1.85 billion Hong Kong dollars.

A retail investor: Damn, if I know this, I should short it

Shorting 200,000 shares will make a lot of money, said a retail investor with some regret.

And Guanxi was very happy seeing the stock price of Yonglong Insurance plummeted so much. Chen Tianqing planned to acquire Yonglong Insurance, and he also thought about it, but he was not in a hurry to call Wu Zhankun and asked Chen Tianqing to call first.

At this moment, in the chairman's office of Wing Lung Insurance Company, Wu Zhankun was leaning on the boss's chair, staring at the chandelier blankly, his eyes were dull.

Today, the stock price of Wing Lung Insurance has collapsed, and the market value is still 150 million.

And today China Resources Beer, China Resources Gas, China Resources Cement, Sinopec... these stocks are all falling.

Wing Lung Insurance's loss is incalculable.

In fact, Wing Lung Insurance suffered a huge loss of 2.5 billion. In addition to the recently shrunk assets, the assets held are now 3 billion, and the liabilities are 3.2 billion. The net assets have become negative, negative 200 million.

Wing Lung Insurance's cash flow has dried up.

Moreover, the assets may shrink further. Wing Lung Insurance is finished this time.

Not only was Wing Lung Insurance Company ruined, but he himself suffered disastrous losses and his career was in shambles.

At this moment, his phone rang, and it was Chen Tianqing calling, saying that he wanted Asia Financial Holdings to acquire Wing Lung Insurance.

Merger and acquisition? Wu Zhankun's face was a little dark. This Wing Lung Insurance was run by him. Before China Merchants Bank acquired Wing Lung Bank, he begged his father to spend 800 million Hong Kong dollars to buy 40% of Wing Lung Insurance from China Merchants Bank Wing Lung Bank. shares.

He is really unwilling to let the Asian Financial Holding Company merge and acquire it now.

On the phone, Chen Tianqing said again: Zhan Kun, Wing Lung Insurance is finished this time, you should sell it early, the market value will definitely fall below 100 million tomorrow, and it will be lower in the future. I will give you the acquisition price of 100 million now, which is not bad. Otherwise, the purchase price will be 50 million, or even lower.

Tomorrow, Chen Tianqing intends to continue to sell the shares of Wing Lung Insurance, driving Wing Lung Insurance's share price even lower!

Today, he only sold 5 million shares at the opening of the market. The rest of the stocks sold were retail investors or other financial institutions.

Let me think about it. Wu Zhanhai's complexion was extremely complicated, uncomfortable, extremely uncomfortable!

Is this the end of Wing Lung Insurance?

He hates it!

This IndyMac Bond Management and IndyMac Bank are killing him!

That bastard Chen Tianqing is still making trouble.

His cousin Wu Zhanhai is also in a difficult situation, and everyone is miserable.

He didn't dare to ask his family to continue to ask for money. Before that, his father bought 40% of Wing Lung Insurance's shares in order to spend 800 million!

Now Wing Lung Insurance has a market value of 150 million, and 40% is worth 60 million.

There are still 60 million left in the 800 million, and his father will probably break his leg when he goes back.

Soon the phone rang again, it was from Wang Guanxi, he thought about it and got through.

What's up?