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Chapter 551
Chapter 551
Chapter 551: Resource Chamber of Commerce Meeting (Part Twenty-two)
Translator: Atlas Studios Editor: Atlas Studios
All of the media in Heavenly State was reporting on this, and those shareholders who were most sensitive crazily started to sell their shares on Qian Family Energy Group Co., Ltd, causing the share price to drop from 36.2 yuan per share to 34.39 per share in a single day, a 5% drop in share price.
Just half a day, the net worth of the Qian Family Energy Group Co., Ltd dropped from 32.2 billion to 30.59 billion, a total of 1.6 billion yuan vanishing into thin air.
And very obviously, this was only the beginning.
...
The second day, 8 AM, after the stock market just opened, more of the shares were being sold. Just half an hour later, the share price started to drop again, from 34.39 to 32.67, another 5% drop, and the net worth dropped to 29.06 billion, another 1.5 billion vanishing into thin air...
What was worth mentioning was that while numerous shareholders were selling their shares of Qian Family Energy Group Co., Ltd, in secret, a few parties were buying up the shares. In just two days’ time, they had bought 8% of Qian Family Energy Group Co., Ltd’s total shares, and obviously, they were still continuing to do so...
...
From here, it could be seen how right the Bureau Chief was in preventing news of Hong Weiguo’s impeachment to be leaked out to the media previously.
In fact, for large corporations like Sangle and Qian Family Energy Group Co., Ltd, it wasn’t easy to truly destroy them. Their true worth lied in their share prices. As long as the share price didn’t fluctuate too much, everything else didn’t really matter.
In the information age, what would affect share prices the most? Without a doubt, it was information itself!
For Sangle, all of its information was being sealed, it could be said that the only news on Sangle during its impeachment was good news about its restructuring and the three magnates allying together. Practically no one knew of Sangle’s trouble at that time, and its share price wasn’t affected.
But as for the Qian Family, things were totally different.
The Bureau Chief didn’t seal the news on the Qian Family. Therefore, its shareholders would sense its problem immediately, therefore selling away their shares.
Once the share price started to make large drops, what followed next would be even more drastic drops as others followed.
...
Tianhai City, inside Li Jing Hotel.
“Hahaha, it’s just two days and we have already bought in 8% of the Qian Family’s shares.” Inside Hong Weiguo’s room, the four of them were looked at the information on the computer screen. Liu Yihui laughed loudly and said, “Weiguo, well done! Your Dali is really incredible. With this 13 billion capital from selling the jades, plus another 11 billion the three of us invested, this total of 24 billion capital is enough to buy more than 51% of the Qian Family Energy Group Co., Ltd’s shares! After we gained control of Qian Enterprise and release this news, the share price will rise back up and we will really make a large sum from this!”
“Hehe, Qian Guangzhao probably never thought that because he impeached Weiguo, the end result is his company being taken over by us, right? Haha!” Mu Tie was very happy.
“Yup, the current progress is not bad, but we mustn’t be careless.” Hong Weiguo looked at the statistics on the screen, touched his chin, and said in a deep voice, “From what I know, Qian Guangzhao holds about 22.54% of his company’s shares. The other main shareholder is Toyoda Conglomerate, who holds 16.82% of the shares. Therefore, if we really want to gain control of the Qian Enterprise, we need to have more than 39.36% of the shares to be able to kick them out of the board of directors. Currently, the share price of Qian Family Energy Group Co., Ltd is falling drastically, we need to stabilize the share price eventually to prevent it from dropping too much. If not, even if we gain control of it, it wouldn’t be easy pulling the share price back up. In that case, it wouldn’t be very worthwhile doing all this.”
“Yup, that’s true.” Liu Yihui nodded and said, “Previously, the share that dropped the most number of days was Tian Jia Corporation, having a drop in share price for a record of 27 continuous days! Its code is 500646. Ever since that, no one dared to buy its shares anymore. If we continue to allow the share price of the Qian Enterprise to drop like this, even after we buy over the company, this will become a problem for us.”
Last time, Tian Jia Corporation’s share price dropped for 27 days straight and directly went bankrupt. Ever since that, as long as investors heard the words “Tian Jia” they would avoid it completely. If Qian Enterprise’s share price continued to drop like that, even if they bought over the company, it wouldn’t be of any use to them anymore.
“Let it drop for another four times, then we shall start to control the share price a bit.” Hong Weiguo decided and said, “After that, we must slow down the tempo! This time, we are buying over Qian Enterprise to give it to Dali to play with, we can’t give him something too rubbish. If not, I won’t have to face to give it to him.”
“Haha, OK! Then it’s decided!” Everyone laughed in unison.
...
Tianhai Military Headquarters, large conference room.
The Bureau Chief sat on stage and looked at the document in his hand. After a while, he smiled and nodded. His assistant Mu Huishou instantly took the document and retreated.
“Yup, from the current looks of things, everything is going well.” The Bureau Chief laughed and said, “Qian Guangzhao’s Qian Family Energy Group Co., Ltd has always been working very closely with Toyoda Conglomerate and causing havoc in Heavenly State, pushing up the oil price. This time, we got rid of this turmoil as part of the time, this is really quite an achievement for us.”
“Yes, but Bureau Chief.” A person asked in puzzlement, “We did indeed destroy the Qian Family this time, but the question is, how should we handle such a large corporation like the Qian Enterprise? Is the country taking it over? Or something else?”
The Qian family had fallen, but their company couldn’t be just thrown away like that. This was a very large corporation, they had to find someone to take it over. But the problem was who to take over.
As expected, another person said, “Bureau Chief, in my view, we secretly planned against Hong Weiguo this time, although it’s part of the big plan, we should give him some compensation, right? If there are no other ways, let’s just give this energy company to the Hong Family. After all, Hong Weiguo is quite a good person.”
His words gained the agreement of everyone present. “Exactly, I really don’t feel very good plotting against him this time. This isn’t a small matter, we should indeed compensate him.”
“Yup, if we can have a good relationship with him, it will be beneficial to us, too. Isn’t that prodigal Hong Dali going into the weapons industry? If we give this company to him, Hong Dali would have more money to squander with!”
“Hahahaha, you old sly old foxes.” The Bureau Chief laughed and said, “As for how to handle the Qian Enterprise, Boss and I have already thought of it. This time, Hong Weiguo did indeed suffer some loss. Therefore, Boss’ intention is to transfer the company to Hong Dali and rename it Dali Energy Corporation. This little rascal Hong Dali easily caused such big trouble to Qian Guangzhao this time, you guys should believe in Boss’ foresight, right?”
Hong Dali casually moved a finger and totally destroyed the Qian Enterprise.
Previously, those people here still suspected Hong Dali’s capability, but now, no one had any doubts anymore.
“Bureau Chief, let me ask something.” Someone thought for a while and asked, “Although we can transfer the Qian Family Energy Group Co., Ltd to Hong Dali, the problem is, under what excuse are we going to do that? If we directly give it to him for free, Hong Weiguo would know that we plotted against him and his son. That wouldn’t be very good, right? According to Hong Weiguo and Hong Dali’s protective nature...”
“Yup, that’s indeed a problem.” The Bureau Chief touched his chin and said, “In this case, I shall ask Hong Weiguo to buy the Qian Enterprise’s shares...”
But just as he said this, Mu Huishou suddenly rushed in and placed a new document in front of him.
“What’ this?” The Bureau Chief took up the document and browsed through. Then, he suddenly slapped his thigh fiercely and said, “Indeed, no one from the Hong Family is simple! Haha, impressive!”
Everyone felt weird and asked, “Bureau Chief, what’s impressive? What did the Hong Family do?”
“That’s right, tell us too, what caused you to be so surprised?”
“Hong Weiguo is indeed the number one genius in the Hong Family in the last 100 years.” The Bureau Chief laughed and said, “Currently, Hong Weiguo has already started buying up the Qian Enterprise’s shares. He already has 13% of the shares now and is still buying them!”
“So formidable!” Everyone got a shock. “We haven’t even decided what to do here and Hong Weiguo’s side has already started buying the shares? And he already has 13%?”
“That’s right, this pair of father and son are both amazing!” The Bureau Chief said, “OK, what we need to do next is to throw in more shares into the market so Hong Weiguo can buy enough shares to surpass Qian Guangzhao. In that case, he will be able to directly gain control of the Qian Enterprise and save us a lot of trouble, haha!”
...
Tianhai City, Wangxiang Mountain villa district, Qian Family Villa.
Qian Guangzhao dispersed all of the attendants in the villa and sat in the living room alone. He was holding a phone and talking to his family.
“What’s the progress with the packing up over there?” Qian Guangzhao slowly asked, “How many people have left?”
“Everyone is packing up now, they are all preparing to emigrate overseas.” A sharp female voice sounded through the phone. “But all of our money in the country has been frozen. Also, three of our accounts overseas have been frozen, too. We lost about 400 million of cash overall.”
“Yes, I knew that the Chamber of Commerce wouldn’t withdraw so easily.” Qian Guangzhao insipidly said, “Ask the family members to escape first before talking about other things. I shall stay guard here just in case to negotiate with the Chamber of Commerce.”
“OK, be careful.”
“I know.” Qian Guangzhao slowly hung up.
He continued to sit there and went quiet as if he was a piece of lifeless wood.
After sitting there for a whole half an hour, Qian Guangzhao suddenly let out a long breath, encrypted his phone, and made a call. It got through very quickly, and Qian Guangzhao insipidly said, “Follow everything according to the treaty. Start getting ready. How long do you need?”
“We can install it in just 12 hours.” The voice over the phone didn’t sound like a Heavenly State citizen. “We have been preparing it since we learned of your impeachment.”
Qian Guangzhao smiled and said, “Good.” Then, he hung up the phone.