What’s Wrong With Me Being a Rich Man?

Chapter 214 Yaba Crisis

The report on the one-word crossing of the mountain peak received no response from any parties.

Or, there is no response yet.

However, it is said that both the Hong Kong Stock Exchange and Nasdaq have asked to confirm the authenticity of the news.

It is late in New York, and there are 11.5 hours before the opening of the Nasdaq, and even 9 hours before the market, so you can wait for the bullets to fly across the ocean, and the time to take action across the mountain is Hong Kong Traffic The normal trading time period.

Therefore, the capital market responded as soon as it knew the news.

The wind from the mountains blew up Alibaba's secondary market.

Before 11 a.m., Alibaba's stock price trend rose, and after this point, the stock trend showed a significant turn, and it fell 6% of the stock price in an hour.

After an hour's break at lunch, Alibaba's stock price fluctuated downward from 1:00 to 4:00 pm.

In the end, Alibaba's stock price fell 11% in most of the day, and its market value evaporated by more than HK$9.3 billion.

There was no response from the company involved, but the investors had already believed in Shanfeng's information.

Strictly speaking, the Alibaba Network Company of the Hong Kong Stock Exchange is only the B2B business of Alibaba Group, and does not include the current strong Taobao and Taobao Mall. The problems of Alipay are more of the interests of the entire group.

However, the undisclosed transfer of important assets, the internal problems exposed by this and the possibility of a more intense struggle, have caused doubts.

In addition, it is only B2B after all. Although Taobao and Taobao Mall are in full swing, Alibaba's B2B's own growth is not surprising due to the strong impact of the financial crisis. This incident provides many investors with a reason to withdraw.

HK$9.3 billion was wiped out, and the short selling that crossed the mountain was undoubtedly half successful.

However, a question that makes investors, institutions, insiders and outsiders and Alibaba itself confused is how did the short seller, Guoshanfeng, lock in this transfer incident?

With such doubts, the problems that arose in the first two short sellings emerged again - who is behind the mountain peak?

From the analysis of factors such as the naming of the mountain peak, the target scope, the research report, and the registration location, it is likely to be a domestic institution.

But where did it get information of Alibaba at this level?

That night, the editor-in-chief from Caixin Weekly spoke on the Baixiaosheng platform, updated the relevant information, confirming that Alibaba was transferring in June this year.

In June, it has been half a year.

Alibaba did not issue secrets, and are the shareholders of Yahoo and SoftBank aware of it? Do they agree to such a transfer?

Is there any instruction from Yahoo or SoftBank behind this trip?

It’s not that Alibaba’s own people leaked the secrets, right?

If the information source comes from Alibaba, is it unintentional or intentional?

The 5-year agreement between Alibaba and Yahoo is about to expire. Is there a deeper game here?

The sentence from Shanfeng is too concise. Combined with Alibaba's B2B launch and the expiration of cooperation between Alibaba and Yahoo, there seems to be more understanding for exploration.

Unlike Alibaba Group, which has been experiencing the booming development of the Chinese market, Yahoo has been on a downward trend in recent years.

The cooperation between the two companies was in August 2005. At that time, Yahoo obtained 40% of Alibaba's average value for US$640 million in cash, Yahoo's China business and Taobao shares purchased from SoftBank. share.

Although Yahoo was not at its peak at that time, it was still quite strong, while Alibaba was just making its mark, and its overall revenue did not even exceed the threshold of $100 million.

To this day, in less than 5 years, everything seems to be turning upside down.

Alibaba has become one of the BAT giants of China's Internet, but Yahoo has lost in the competition with Google and Facebook. Even founder Jerry Yang resigned as CEO and was replaced by Bats.

Last year, Microsoft proposed to acquire Yahoo for $44.6 billion, but was eventually rejected by Yahoo's board of directors on the grounds that it "has greatly underestimated the value of Yahoo."

This year, Yahoo's market value has fallen to $21.8 billion, and it is impossible to get the acquisition price that was like last year.

Although Bartz, who was in office for a year, seemed unable to improve the company's fundamentals, despite having reached a global search business with Microsoft, reorganized many businesses, and tried to promote the development of Yahoo online media...

However, investors vote with votes and do not approve of these measures and are gradually moving away from Yahoo.

At the same time, the friendly relationship between Yahoo and Alibaba is also taking a sharp turn. Unlike Jerry Yang, Bartz has a tough personality and straightforward words. It is said that he once accused Ma Yi, who visited him in person, and believed that he had destroyed Yahoo's brand in China.

She has such a personality, but Ma Yi is not a fuel-efficient lamp. This year, there have been many unpleasant public opinion influences.

The reason is that the conditions for the cooperation between the two companies in 2005 put Alibaba's control at risk.

Once in October 2010, Yahoo, which already occupied a board seat, has the right to add another position to its current four seats. At that time, Yahoo will have 2 seats, Alibaba will have 2 seats, and SoftBank will have a completely different situation.

In addition, Yahoo's voting rights will also increase from 35% to 39%, while Alibaba's voting rights will be reduced from 35.7% to 31.7%, and SoftBank will keep 29.3% of the voting rights unchanged.

Even, according to the agreement, Yahoo has the right to replace Ma Yi as CEO.

Under normal circumstances, Yahoo will definitely not do this, but what if...

Whether it is the board of directors or the right to vote, this is not a joke, and Ma Yi absolutely cannot ignore such risks.

The tenderness and affection of these two families has long become mutual suspicion. For example, Wei Zhe, a core executive of Alibaba, publicly stated that Alibaba's relationship with Yahoo is like a gradually alienated grandson and grandfather, but... grandfather always dies .

Someone else talked about the current situation and said bluntly that "Yahoo is like a diaper sticking to Ma Yi's body, which makes him feel very uncomfortable."

With such an undercurrent game, I suddenly slashed the cold one over the mountain peak, which inevitably makes people wonder if there is any inside story.

However, judging from the informal news that circulated, Alibaba seemed to be innocent. At the Baixiaosheng Forum that night, many people said that executives of the Alibaba Group were inquiring about the situation of Shanfeng.

Such actions do not seem to be directed and acted by themselves.

However, some people say that you must do a complete set of tricks, and this kind of thing must be known only by a few people.

The same situation also happened across the ocean. According to sources on Wall Street to the media, Yahoo expressed "strong curiosity" about crossing the mountain.

And, at 6:30 in New York, half an hour before the market, Bloomberg published an official response from Yahoo.

First, the restructuring of Alipay has not been approved by Alibaba's board of directors and shareholders, and Yahoo did not learn about this situation until recently.

Second, CEO Bartz said that Yahoo has no intention of taking over Alibaba's equity. She will definitely join Alibaba's board of directors at the end of 2010, execute the agreement signed between Yahoo and Alibaba in 2005, and get a second seat.

The official statement from Yahoo undoubtedly instantly led Alibaba into the camp of cheaters.

However, such a statement cannot restore the decline in Yahoo's stock price.

From 7:00 to 9:30, Yahoo's stock price fell by nearly 3%, and after the official trading, its stock price plummeted. At 10:30 a.m. in New York, Alibaba responded to this accusation after Yahoo's statement.

Alibaba directly confronted and denied the content of Yahoo's statement, directly pointing out that in the board of directors in July this year, the group clearly confirmed that it would transfer 70% of Alipay's equity to an independent Huaxia company, and there was no Yahoo's ignorance.

As for whether Yahoo will sell Alibaba shares, Alibaba has not answered questions from many reporters.

One said they didn't know, and the other said they had notified.

There are listed companies on both sides, Alibaba has already fallen to the point of respect, and Yahoo naturally follows it.

Compared with 11% of Alibaba's B2B's first day, Yahoo is better, falling 12.5% ​​throughout the day, directly evaporating US$2.725 billion.

Alibaba is only part of the listing, with limited size. Yahoo's losses in proportion far exceed Alibaba's B2B. CEO Barts has also been questioned by investors and it is difficult to deal with its relationship with Alibaba.

For example, the Wall Street Journal simply commented before the day was over, believing that Butz would probably follow in Jerry Yang's footsteps.

The verbal battle between the two sides on the transfer of control of Alipay and whether they know it is far from ending with one statement. However, Ma Yi's performance at the industry summit and the opacity of this equity transfer made him directly face criticism in China.

Public opinion is boiling, market value evaporates, shareholders are turning against each other...

The third move of Kushanfeng undoubtedly achieved all-round success after Yahoo's stock price clearly fell.

No mistakes, one song, one content, one in 6, one book, one bar, one reading!

At noon on December 31, Xu Xin and Yu Xing, who had a relationship repaired, had lunch together, and naturally talked about the hot situation yesterday.

It is hard for her not to sigh: "A word crossing the mountain made the two listed companies mess with it. It is really hard to say that it did a beautiful job."

Yu Xing was a little surprised: "Mr. Xu still thinks such a short seller is doing a pretty job?"

Xu Xin explained to Yu Xing, who is easy to be either this or that, "I am not talking about its position, but its style of doing things, or its completeness in doing things, and its efficiency in doing things."

She added: "If it is true that crossing the mountain is not instructed by Alibaba or Yahoo."

Yu Xing laughed: "Can it really be the bitter plan of one of these two families? That's all nonsense."

Xu Xin shook her head and seriously introduced the dispute over interests between Yahoo and Alibaba.

This struggle is almost open. For example, Yahoo's response to the transfer of Alipay's equity yesterday also specifically mentioned that it will not sell Alibaba's equity. This actually means that Yahoo will not accept Alibaba's equity repurchase.

It’s not that it doesn’t sell it to others, but that it doesn’t sell it to Alibaba itself in a specific context.

CEO Butz still has to emphasize this at such a juncture, which shows the tension in the relationship between the two sides.

Yu Xing listened with relish and interesting. It was quite inspiring to see the game between large companies.

He asked a question: "Mr. Xu, who do you think the statements of these two companies are true? Do you know about Yahoo?"

"In this Alipay equity transfer, in fact, it doesn't matter who is true or false. I see that someone on your website says that Alibaba is trying to obtain a payment license, and there must be such factors." Xu Xin said with thought, "But no It's comprehensive. I think Ma Yi has the intention to use the transfer of equity to highlight Yahoo. Even if according to Alibaba's statement, its board of directors in July talks about this matter, the equity was transferred in June."

"Bats is unwilling to let Alibaba buy back its shares, and he is very tough in doing things, but Ma Yi's move is undoubtedly even tougher. He firmly controls the entire group and tells Yahoo with practical operations that the other party cannot win control."

When Xu Xin said this, she couldn't help but shake her head: "Yahoo is the major shareholder. Who can retreat if it involves tens of billions of dollars or even more? So, this game is a game for brave people. ”

Yu Xing took a sip of tea and raised a fact: "What if there are really no two companies behind the mountain? What if it is really just an accident?"

Xu Xin thought about it for a long time this time.

Then she said, "The short selling of crossing the mountain peak has made the contradiction even more acute. If it is really just an accident, it is really what crossing the mountain peak means, then it is like a Cuban crisis. Well, between these two companies The game should be called the 'Yaba Crisis', so both of them must be particularly anxious now."

It involves payment licenses, agreement expiration, equity repurchase, control disputes, and interests that are so big that it is even timid...

A Yaba crisis that tests the will of both sides.

Xu Xin lowered her head and thought, and then looked up and said, "I can't see clearly, but this time I passed the mountain, it really shocked the country and abroad. Many media have reported on its short selling, tsk, one sentence, just one sentence Words! ”

Thinking about this and the current movement, she couldn't help laughing: "Tomorrow is 2010, crossing the mountain makes everyone in this matter welcome the new year with a very bad mood. ”

Yu Xing also smiled: "Mr. Xu, after you said this, I really understand the meaning of 'beautiful' you said."

Xu Xin heyran: “Yes.”

No matter what the position is, this short seller is very quick and skillful in doing things.

After eating some food, Yu Xing said sincerely: "I am the winner in this matter."

Xu Xin understood Yu Xing's words and nodded, "Well, Bai Xiaosheng's influence has really expanded gradually. Many media have used your analysis. What are the current user numbers?"

Yu Xing replied, "2.16 million."

"You can welcome 2010 with peace of mind." Xu Xin smiled. Such user growth can be evaluated as "excellent".

After hearing this comment, Yu Xing felt a subtle illusion that Mr. Xu also knew his identity.

He raised his glass and said, "Mr. Xu, the past is all in 2009. I hope Bai Xiaosheng and you have a more pleasant future."

Xu Xin held the cup, thinking about the bad mood brought by Bai Xiaosheng and Yu Xing, he couldn't help but say angrily: "It's good that you can keep it for a year."

When Yu Xing heard her give a specific time limit, he felt that it was not good. This often came true...

He calmly put down his wine glass, ate the dishes for a while, and then talked about Bai Xiaosheng's listing prospects, and finally inadvertently asked about the listing plan of today's capital investment project.

Xu Xin didn't think this was a secret, so she naturally talked about Tudou.com: "Tubou.com must be earlier than you, and it will definitely IPO in 2010."

Yu Xing sighed inwardly, this time is within a year.

He raised his wine glass again and changed his name in a slow-heating style: "Sister Xin, I will say nothing, I respect you."

Xu Xin held the wine glass and felt that after the troubles between Bai Xiaosheng and Yu Xing in 2009, at least, her ability to withstand pressure was definitely stronger.

She slowly drank this glass of wine. What can't beat me will only make me stronger!

(End of this chapter)